Document:

LETTER AGREEMENT- SCHUCKENBROCK

 Exhibit 10.12 
  
 [EDS letterhead] 
  
 Personal and Confidential 
  
 December 30, 2003 
  
 Mr. Stephen F. Schuckenbrock 
 [address] 
  
 Dear Steve: 
  
 I am extremely pleased to extend to you this offer to join EDS. You will report to The Office of the CEO and work on special projects related to the transformation of
EDS. However, contingent on the transaction between EDS and The Feld Group closing prior to January 31, 2004, you will assume the role as Executive Vice President, Global Sales and Client Solutions. Upon such change in your role, you will be
appointed as an executive officer of the company. I believe this position is a unique opportunity for you to contribute significantly to EDS’ future. I am confident you will be a valuable member of our executive team. 
  
 Following is a summary of the compensation package we have developed for you. Based on our
conversations, your start date is expected to be December 30, 2003. If you accept this offer, your employment with The Feld Group will cease and you will become an employee of EDS on December 30, 2003. Should the transaction between EDS and The Feld
Group not close prior to January 31, 2004, your employment with EDS shall terminate immediately, any restricted stock granted to you shall be forfeited and EDS shall have no other severance and or separation obligations pursuant to the terms of this
offer. 
  
 Total Cash Compensation 
  
 Your initial annual base salary will be $600,000 and is payable in twenty-four semimonthly
payments. We review executive base salary levels annually and you will be eligible for an increase in January 2005. 
  
 In addition to your annual base salary, you will be eligible to participate in EDS’ annual executive bonus plan. Your 2004 annual bonus target will be 70% of your
base salary (i.e., $420,000). Actual incentive awards are based on individual and EDS’ financial performance, however for 2004, we will guarantee you a minimum payment of at least $420,000, less applicable withholding, payable in the first
quarter of 2005. 
  
 You will also receive a special retention bonus payment in
the aggregate amount of $531,927.64, to be paid out over a period of time and under the terms and conditions as outlined in Exhibit A which is attached. 
  
 Annual Long-term Incentive Compensation Grants 
  
 EDS currently delivers annual long-term incentive compensation to its executives primarily through the granting of nonqualified stock option awards. Annual stock option

  

 Mr. Stephen F. Schuckenbrock 
 December 30, 2003 
 Page 2 of 5 
  

 
grants are typically made in the first quarter of a calendar year and are based on a combination of individual performance and the market level of long-term
incentive compensation for the particular executive position. 
  
 On or about
March 24, 2004, we will grant to you 100,000 options to purchase shares of EDS Common Stock. This stock option award will be granted at the fair market value (the average of the high and low trade price of EDS stock) on the grant date. The exact
terms of this award will be established by our Board of Directors in February. However, we expect this award will vest 100% in four (4) years, where half of the grant could vest after twelve months and the other half after twenty-four months if
EDS’ stock price increases over the grant price by 30% and 50% respectively. Your next opportunity for a long-term incentive compensation award will be in the first quarter of 2005. 
  
 This stock option award will be issued pursuant to the terms and conditions of the applicable EDS stock plan, the individual stock option
award and equity related agreements. I have enclosed for your reference copies of such documents. 
  
 Employee/Executive Benefits and Perquisites 
  
 In addition to the standard health, welfare, retirement and 401(k) benefits available to all EDS employees, you will be eligible to participate in the EDP and Supplemental Executive Retirement Plan (SERP). 
  
 The EDP allows you to defer up to 50% of your base salary and 100% of your cash bonus. Cash
deferrals can be “invested” notionally into either an interest only account or an EDS common stock equivalent account. EDS makes a 25% match on up to 15% of your base salary and 25% of your bonus if your deferrals are invested in EDS
common stock. EDS also provides a 401(k) make-up matching contribution to compensate for IRS-imposed limitations on eligible compensation. Both EDS matching contributions are effective on December 31 each year and are in the form of EDS common stock
units within the EDP. 
  
 The SERP provides a retirement income benefit over and
above what is provided in the company’s qualified retirement plan and non-qualified restoration plan. The SERP benefit formula is based on final average earnings (base salary plus bonus) during a five-year period prior to your retirement as
outlined in the plan document. Under the provisions of the SERP, a participant is vested in the plan when attaining age 55 and 70 points (points equal age plus service). 
  
 You are also eligible for reimbursement under our Executive Financial Counseling Program. This benefit provides reimbursement up to $13,000
in year one and $7,500 annually thereafter for financial and estate planning. It also provides you with unlimited reimbursement for your individual income tax return preparation. You will also be eligible for benefits under our annual Executive
Physical Examination Plan. 
  
 In addition to the above, you will also receive a
Change of Control Agreement (a copy of which will be provided under separate cover). In addition to other benefits, if triggered, 

  

 Mr. Stephen F. Schuckenbrock 
 December 30, 2003 
 Page 3 of 5 
  

 
the Change of Control Agreement will provide a cash separation payment, accelerated long-term incentive compensation vesting and excise tax gross-up.

  
 As it relates to transitioning your employment to EDS, the following will
apply to you: 
  

	 	•	EDS will recognize your service date with The Feld Group for vesting, participation and future benefit accruals in any EDS “employee benefit plan”.

  

	 	•	You will be given maximum benefit dollars to purchase EDS benefits regardless of your service date. 

  

	 	•	EDS will recognize year-to-date deductibles from The Feld Group toward satisfying EDS’ deductibles, where applicable. 

  

	 	•	The first year dental maximum of $500 is waived. The annual maximum will be based on the dental plan option you choose. 

  

	 	•	The EDS supplemental life insurance coverage (Group Universal Life) will accept more than 3 times annual salary coverage without proof of good health, if your coverage was higher
with The Feld Group plans and documentation can be provided. 

  
 You
will also be eligible for four (4) weeks of vacation per calendar year starting in 2004. These employee benefits and any other EDS benefit programs that you may be eligible to participate in are subject to review and modification from time to time.

  
 In order to receive the compensation and equity grants described above, you
must be employed by EDS at the time awards are made. This offer of employment is contingent on your execution of the required EDS employment forms, and execution of the EDS Code of Business Conduct. All of these are standard EDS employment
practices. These documents are enclosed for your review. 
  
 Along those same
lines, the EDS Code of Business Conduct requires all employees to honor any agreements they may have with prior employers, including obligations regarding competition and/or the disclosure or use of proprietary information. Accordingly, and as is
our customary practice for senior level executives, EDS’ offer of employment is contingent upon our reviewing and confirming that you are not a party to any agreement(s) that would preclude and/or inappropriately interfere with your discharging
your proposed duties or responsibilities for EDS. 
  

 Mr. Stephen F. Schuckenbrock 
 December 30, 2003 
 Page 4 of 5 
  

 If the terms in this letter are agreeable to you, please sign below and return it to Mike Paolucci in the enclosed
envelope. Please contact me or Mike Paolucci if you have any questions or need additional information about this offer. 
  
 We are very pleased about the prospect of you joining EDS. We have an exciting future ahead of us and look forward to you becoming part of our winning team. 

 

	
	Sincerely,
	
	/S/    MICHAEL H. JORDAN        
	

	 Michael H. Jordan
 Chief Executive Officer

  
 Enclosures 
  

	cc:	Michael E. Paolucci 

  
 I ACCEPT THE TERMS OF EMPLOYMENT OUTLINED IN THIS LETTER. 
  

					
			
	/S/    STEPHEN F. SCHUCKENBROCK        	 	 	 	 12-30-03

	
	 	 	 	 
	Stephen F. Schuckenbrock	 	 	 	 Date

  

 EXHIBIT A 
  
 Retention Bonus Payment 
  
 Retention Bonus Payment. Subject to the following, EDS will pay Stephen F. Schuckenbrock
(“Employee”) a cash bonus up to the aggregate amount of $531,927.64 (the “Bonus Amount”) to be paid as follows: 
  
 (a) one-third of the Bonus Amount shall be paid to Employee as soon as administratively practicable after the later to occur of (1)
Employee’s continued employment until the one-year anniversary of Employee’s date of hire by EDS and (2) the first date after such one-year anniversary on which the closing sales price of EDS Common Stock on the New York Stock Exchange
(the “Trading Price”) exceeds $25.7463 1; 
  
 (b) one-third of the Bonus Amount shall be paid to Employee as soon as administratively practicable after
the later to occur of (1) Employee’s continued employment until the two-year anniversary of Employee’s date of hire by EDS and (2) the first date after such two-year anniversary on which the Trading Price exceeds $27.0396 2; 
  
 (c) one-third of the Bonus Amount shall be paid to Employee as soon as administratively practicable after the later to occur of (1)
Employee’s continued employment until the three-year anniversary of Employee’s date of hire by EDS and (2) the first date after such three-year anniversary on which the Trading Price exceeds $28.3808 3. 
  
 The Employee must be continuously employed by EDS at the time of payment in order to be eligible to receive any Retention Bonus Payment as outlined above. Notwithstanding the foregoing, if Employee is terminated by
the Company without Cause (as defined in the Nonqualified Stock Option Agreement by and between EDS and Employee), by Employee for Good Reason (as defined in the aforementioned Option Agreement) or by reason of Employee’s death or Total
Disability (as defined in the aforementioned Option Agreement), then the Employee need not be continuously employed by EDS in order to be eligible to receive the Retention Bonus Payment after the other conditions outlined in paragraphs (a), (b) and
(c) have been met. 

	1	Such amount to be 7.5% greater than the “fair market value” of the Option Shares on the day before Closing (as appropriately adjusted to reflect stock
dividends, stock splits, combinations, recapitalizations or the like). 

  

	2	Such amount to be 12.9% greater than the “fair market value” of the Option Shares on the day before Closing (as appropriately adjusted to reflect stock
dividends, stock splits, combinations, recapitalizations or the like). 

  

	3	Such amount to be 18.5% greater than the “fair market value” of the Option Shares on the day before Closing (as appropriately adjusted to reflect stock
dividends, stock splits, combinations, recapitalizations or the like).AMENDMENT #3 TO RECEIVABLES PURCHASE AGREEMENT

 Exhibit 10.13 
 Amendment No. 3 to Receivables Purchase Agreement 
  
 This AMENDMENT NO. 3 TO RECEIVABLES PURCHASE AGREEMENT, dated as of December 26, 2003 (this “Amendment Agreement”), is made by and among
Legacy Receivables LLC (the “Seller”), CAFCO, LLC (“CAFCO”), CIESCO, LLC (“CIESCO”), Citibank, N.A. (“Citibank”), Citicorp North America, Inc., as agent (“the
“Agent”) for the Investors and the Banks (each as defined in the Agreement) (as defined below), Electronic Data Systems Corporation (“EDS”), and EDS Information Services L.L.C. (the “Originator”).

  
 Preliminary Statements. (1) The Seller, CAFCO, CIESCO,
Citibank, the Agent, EDS and the Originator are parties to a Receivables Purchase Agreement, dated as of December 27, 2002, as amended as of January 1, 2003 and as of June 30, 2003, (the “Agreement”; capitalized terms used herein
and not otherwise defined herein shall have the meanings attributed to them in the Agreement). 
  
 (2) The Seller, CAFCO, CIESCO, Citibank, the Agent, EDS and the Originator desire to amend certain provisions of the Agreement as set forth herein. 
  
 NOW, THEREFORE, the parties agree as follows: 
  
 SECTION 1. Amendments to Agreement. Upon effectiveness of this Amendment Agreement, Section 1.01 of the Agreement is
amended as follows: 
  
 (1) The definition of “Aggregate
Purchase Limit” is amended by deleting the dollar amount “$500,000,000” in line one thereof and substituting therefor the dollar amount $400,000,000. 
  
 (2) The definition of “Bank Commitment” is amended by deleting the dollar amount “$500,000,000” in line
two thereof and substituting therefor the dollar amount $400,000,000. 
  
 (3) The definition of “Commitment Termination Date” is amended by deleting the date “December 26, 2003” in clause (a) thereof and substituting therefor the date December 24, 2004. 
  
 (4) The definition of “Investor Purchase Limit” is amended by
deleting the dollar amount “$250,000,000” in clauses (i) and (ii) thereof and substituting therefor the dollar amount $200,000,000. 
  
 SECTION 2. Effectiveness. This Amendment Agreement shall become effective as of the date hereof at such time that executed counterparts of this
Amendment Agreement have been delivered by each party hereto to the other parties hereto. 

 SECTION 3. Representations and Warranties. Each of the Seller and the Collection Agent makes each
of the representations and warranties contained in Section 4.01 and Section 4.02, respectively, of the Agreement (after giving effect to this Amendment Agreement). 
  
 SECTION 4. Confirmation of Undertakings. EDS confirms and agrees that, notwithstanding the effectiveness of this
Amendment Agreement, the Undertakings heretofore executed and delivered by it are, and shall continue to be, in full force and effect and shall apply to the Agreement as amended by this Amendment Agreement, and the Undertakings are hereby ratified
and confirmed. 
  
 SECTION 5. Confirmation of Agreement.
Each reference in the Agreement to “this Agreement” or “the Agreement” shall mean the Agreement as amended by this Amendment Agreement, and as hereafter amended or restated. Except as herein expressly amended, the Agreement is
ratified and confirmed in all respects and shall remain in full force and effect in accordance with its terms. 
  
 SECTION 6. Costs and Expenses. The Seller agrees to pay on demand all reasonable costs and expenses in connection with the preparation, execution
and delivery of this Amendment Agreement and any other documents to be delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Agent, the Investors and the Banks with respect thereto.

  
 SECTION 7. GOVERNING LAW. THIS AMENDMENT AGREEMENT
SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES THEREOF THAT
WOULD CALL FOR THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. 
  
 SECTION 8. Execution in Counterparts. This Amendment Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment Agreement by facsimile shall be effective as delivery of a manually executed counterpart of
this Amendment Agreement. 
  
 [Remainder of this page intentionally
left blank] 
  

 2 

 IN WITNESS WHEREOF, the parties have caused this Amendment Agreement to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

			
	LEGACY RECEIVABLES LLC
		
	 By:
	 	 /s/ SCOTT J. KRENZ

	 Title:
	 	 Treasurer

  

					
	CAFCO, LLC
		
	 By:
	 	 Citicorp North America, Inc., as Attorney-in-Fact

	 	 	 	 	 
	 	 	 By:
	 	 /s/ KIMBERLY A. CONYNGHAM

	 	 	 	 	 Vice President

	
	 CIESCO, LLC

		
	 By:
	 	 Citicorp North America, Inc., as Attorney-in-Fact

	 	 	 	 	 
	 	 	 By:
	 	 /s/ KIMBERLY A. CONYNGHAM

	 	 	 	 	 Vice President

	
	 CITICORP NORTH AMERICA, INC., AS
AGENT

		
	 By:
	 	 /s/ KIMBERLY A. CONYNGHAM

	 	 	 Vice President

	
	 CITIBANK, N.A.

		
	 By:
	 	 /s/ KIMBERLY A. CONYNGHAM

	 	 	 Vice President

  

			
	ELECTRONIC DATA SYSTEMS CORPORATION
		
	 By:
	 	 /s/ SCOTT J. KRENZ

	 Title:
	 	 Treasurer

	
	EDS INFORMATION SERVICES L.L.C.
		
	 By:
	 	 /S/ SCOTT J. KRENZ

	 Title:
	 	 Treasurer

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