Document:

Second Amended and Restated Employment Agreement - Joseph L. Jackson

 Exhibit 10.8 
 SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is effective as of the 23rd day of
November 2010 (the “Effective Date”) by and between Wage Works, Inc., a Delaware corporation (the “Corporation”), and Joseph L. Jackson (“Executive”). 

WHEREAS, Executive previously entered into an employment agreement with the Corporation dated February 12,
2007 which was subsequently amended on June 1, 2007 and again on January 28, 2008. On July 1, 2008, the Corporation and the Executive entered into an amended and restated employment agreement which agreement was further amended on
February 12, 2009 and February 12, 2010. The original employment agreement, the amended and restated employment agreement and any and all amendments thereto are collectively referred to as the “Original Employment Agreement”.

 WHEREAS, the Corporation and Executive now desire to amend and restate the terms and conditions of the
Original Employment Agreement in order to consolidate the prior changes. 
 NOW, THEREFORE, in
consideration of the promises and mutual covenants contained herein, the parties agree hereto as follows: 
 PART ONE -
DEFINITIONS 
 For purposes of this Agreement, the following definitions shall be in effect: 

Board means the Corporation’s Board of Directors. 
 Change in Control means the occurrence of any of the following events: 

(i) Change in Ownership of the Corporation. A change in the ownership of the Corporation which occurs on the date that any one person, or
a related group of persons (as such term is used in Section 13(d) and 14(d) of the Securities and Exchange Act, as amended) (‘Person”) acquires, directly or indirectly ownership of the stock of the Corporation that, together with the
stock held by such Person or group, constitutes more than 50% of the total voting power of the stock of the Corporation, except that any change in the ownership of the stock of the Corporation (a) as a result of a private financing of the
Corporation that is approved by the Board or (b) as a result of acquisition of ownership of additional stock by a shareholder of the Corporation that beneficially owns at least two percent (2%) of the outstanding stock as of the date of
this Agreement, will not be considered a Change in Control; or 
 (ii) Change in Effective Control of the Corporation. If the
Corporation has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, a change in the effective control of the Corporation which occurs on the date that a majority of members of the Board is
replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person
is 

 
considered to be in effective control of the Corporation, the acquisition of additional control of the Corporation by the same Person will not be considered a Change in Control; or 

(iii) Change in Ownership of a Substantial Portion of the Corporation’s Assets. A change in the ownership of a substantial portion
of the Corporation’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Corporation
that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Corporation immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair
market value means the fair market value of the assets of the Corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a
change in control event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be
promulgated thereunder from time to time. 
 Further and for the avoidance of doubt, a transaction will not
constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Corporation’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions
by the persons who held the Corporation’s securities immediately before such transaction. 
 Change in
Control Severance Benefits means the various payments and benefits to which Executive may become entitled under Paragraph 15 of Part Four of this Agreement. 

Change in Control Severance Period means the period commencing with the Corporation’s execution of the
definitive agreement for a Change in Control transaction and continuing until the earlier of (i) the termination of such definitive agreement without the consummation of the contemplated Change in Control or (ii) the end of
the twenty-four (24)-month period measured from the closing date of that Change in Control. 
 Code means
the Internal Revenue Code of 1986, as amended. 
 Common Stock means the Corporation’s common stock.

 Employment Period is defined in Paragraph 2 of Part Two of this Agreement. 

Incapacity means the inability of Executive, by reason of any injury or illness, to properly perform his normal
duties and responsibilities under this Agreement for a period of more than one hundred eighty (180) days. 

Involuntary Termination means (i) the Corporation’s termination of Executive’s employment for any
reason other than a Termination for Cause or (ii) Executive’s voluntary resignation within ninety (90) days following (A) a material reduction in his base salary, with a 

  
 2 

 
reduction of fifteen percent (15%) or more to be deemed material for such purpose, (B) a material relocation of his principal place of employment, with a relocation that is more than
fifty (50) miles from the location of his principal office in San Mateo, California to be deemed material for such purpose, (C) a material breach by the Corporation of any of its obligations under this Agreement, or (D) a material
reduction in his job duties; provided, however, that none of the events specified in this clause (ii) shall constitute grounds for an Involuntary Termination unless Executive first provides written notice to the Corporation describing the
applicable event within thirty (30) days following the occurrence of that event and the Corporation fails to cure such event within thirty (30) days after receipt of such written notice. 

An Involuntary Termination shall include the termination of Executive’s employment by reason of death or Incapacity.

 Option means any option granted to Executive under the Plan or otherwise to purchase shares of Common
Stock. 
 Plan means (i) the Corporation’s 2000 Stock Option/Stock Issuance Plan, (ii) the
Corporation’s 2010 Equity Incentive Plan, and (ii) any successor stock incentive plan subsequently implemented by the Corporation. 
 Section 409A means Code Section 409A, and the final regulations and any guidance promulgated thereunder or any state law equivalent. 

Termination for Cause means the termination of Executive’s employment due to (i) the commission of any
act of fraud, embezzlement or dishonesty by Executive or his conviction of a felony, (ii) any unauthorized use or disclosure by Executive of confidential information or trade secrets of the Corporation (or any parent or subsidiary),
(iii) any other misconduct by Executive adversely affecting the business or affairs of the Corporation in a material manner, (iv) Executive’s failure to cure any breach of his obligations under this Agreement or his Proprietary
Information and Inventions Agreement with the Corporation after written notice of such breach from the Corporation and a reasonable cure period of at least thirty (30) days or (v) Executive’s breach of any of his fiduciary duties as
an officer or director of the Corporation. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the Corporation (or any parent or subsidiary) may consider as grounds for the dismissal or discharge of
Executive or any other individual in the service of the Corporation (or any parent or subsidiary), but a dismissal for such other acts or omissions shall not constitute a Termination for Cause for purposes of this Agreement unless otherwise
described above. 
 PART TWO - TERMS AND CONDITIONS OF EMPLOYMENT 

1. Duties and Responsibilities. 
 A. Executive shall serve as the Chief Executive Officer of the Corporation and shall in such capacity report directly to the Board. As Chief Executive Officer of the Corporation, Executive shall devote
his full business time and attention to the business and affairs of the Corporation during the Employment Period. Executive 

  
 3 

 
shall not engage in any other business, job or consulting activity during the Employment Period without the written permission of the Corporation. 

B. Executive’s principal place of employment shall be the Corporation’s principal offices in San Mateo,
California, but Executive may be required from time to time to travel to other geographic locations in connection with the performance of his duties hereunder. 
 C. Executive shall continue to remain subject to the terms and conditions of his Proprietary Information and Inventions Agreement with the Corporation dated February 13, 2007 throughout the
Employment Period and thereafter, in accordance with its terms. A copy of such agreement is attached hereto as Exhibit A. 
 2. Employment Period. Executive’s employment with the Corporation pursuant to this Agreement shall be “at will,” and either the Corporation or Executive may terminate
the employment relationship at any time in accordance with the provisions of Paragraph 10. The period during which Executive is in fact employed by the Corporation pursuant to this Agreement shall constitute the “Employment Period”
hereunder. 
 3. Cash Compensation. 

A. Executive shall be paid a base salary at the annualized rate of Four Hundred Thousand Dollars ($400,000.00). Such rate
shall be subject to annual review by the Board and may be adjusted in the Board’s discretion. Base salary shall be paid at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees. 

B. For each fiscal year of the Corporation during the Employment Period, Executive shall be eligible to receive a cash
bonus in a dollar amount determined by the Board, but the target for such bonus shall not be less than fifty percent (50%) of base salary received during the fiscal year. The actual bonus payable for each fiscal year will depend upon
Executive’s performance and the extent to which Executive has achieved the performance goals established for the Corporation for that year. Any bonus awarded to Executive shall be paid by the 15th day of the third calendar month following the
close of the calendar year for which such bonus is earned. 
 C. The Corporation shall deduct and withhold from
the compensation payable to Executive hereunder any and all applicable federal, state and local income and employment withholding taxes and any other amounts required to be deducted or withheld by the Corporation under applicable statutes,
regulations, ordinances or orders governing or requiring the withholding or deduction of amounts otherwise payable as compensation or wages to employees. 

  
 4 

 4. Equity Compensation. The Board has approved, and the
Corporation has granted, the following stock options to Executive to purchase shares of the Company’s Common Stock (“Regular Options”): 
  

																	
	 2/26/2007
	  	 	NQSO	  	  	$	4.24	  	  	 	1,200,000	  	  	 	(canceled	) 
	 2/7/2008
	  	 	NQSO	  	  	$	4.14	  	  	 	100,000	  	  	 	—  	  
	 5/25/2007
	  	 	NQSO	  	  	$	4.71	  	  	 	1,350,000	  	  	 	—  	  
	 5/7/2009
	  	 	NQSO	  	  	$	3.07	  	  	 	200,000	  	  	 	—  	  
	 5/6/2010
	  	 	NQSO	  	  	$	2.66	  	  	 	375,000	  	  	 	—  	  

 In addition, the
Board has approved, and the Corporation has granted the following performance-based stock option to Executive to purchase shares of the Company’s Common Stock (“Performance Option”) 

 

													
	 5/6/2010
	  	 	NQSO	  	  	$	2.66	  	  	 	375,000	  
	 11/4/2010
	  	 	NQSO	  	  	$	3.09	  	  	 	300,000	  

 The Performance
Option vests upon achievement of certain performance milestones, as described in the stock option agreement; provided, however, that in the event of a Change in Control, one hundred percent (100%) of the shares subject to the Performance Option
will immediately vest and become exercisable immediately prior to the closing of such Change in Control. 
 The terms of the Regular Options and
the Performance Option (together, the “Options”) are set forth in the respective stock option agreements between Executive and the Corporation and are subject to the terms and conditions of the respective stock plans. The Board will
periodically review Executive’s overall compensation and may, in its sole discretion, make one or more additional option grants to Executive during the Employment Period. 

5. Expense Reimbursement. In addition to the compensation specified in Paragraph 3, Executive shall
be entitled, in accordance with the reimbursement policies in effect from time to time, to receive reimbursement from the Corporation for all business expenses incurred by Executive in the performance of his duties hereunder, provided Executive
furnishes the Corporation with vouchers, receipts and other details of such expenses in the form required by the Corporation sufficient to substantiate a deduction for such business expenses under all applicable rules and regulations of federal and
state taxing authorities (“Supporting Documentation”). Executive must submit the Supporting Documentation for each such expense within sixty (60) days after the later of (i) Executive’s incurrence of such expense or
(ii) Executive’s receipt of the invoice for such expense. If such expense qualifies hereunder for reimbursement, then the Corporation will reimburse Executive for that expense within thirty (30) days thereafter. In no event will any
such expense be reimbursed after the close of the calendar year following the calendar year in which that expense is incurred. 

  
 5 

 6. Fringe Benefits. Executive shall, throughout the
Employment Period, be eligible to participate in all employee benefit plans and programs, such as group, term life insurance and group medical plans, which are made available to the Corporation’s full-time employees and for which Executive
qualifies. 
 Executive shall accrue paid vacation benefits during the Employment Period initially at the rate
of three weeks annually, in accordance with the vacation policies of the Corporation, and may take his accrued vacation at such time or times as are mutually convenient to the Corporation and Executive. 

7. Conditions to Reimbursement. The following provisions shall be in effect for any reimbursements to which
Executive otherwise becomes entitled under this Agreement in order to assure that such reimbursements do not create a deferred compensation arrangement subject to Section 409A: 

(i) The amount of reimbursements to which Executive may become entitled in any one calendar year shall not affect the
amount of expenses eligible for reimbursement hereunder in any other calendar year. 
 (ii) Each reimbursement
to which Executive becomes entitled shall be made by the Corporation as soon as administratively practicable following Executive’s submission of the Supporting Documentation, but in no event later than the close of business of the calendar year
following the calendar year in which the reimbursable expense is incurred. 
 (iii) Executive’s right to
reimbursement cannot be liquidated or exchanged for any other benefit or payment. 
 8. Restrictive
Covenants. During the Employment Period and for the entire period during which Executive is to receive salary continuation payments under either Part Three or Part Four of this Agreement, whether or not those salary continuation payments are
delayed pursuant to Paragraph 18, Executive shall not: 
 (i) anywhere in the United States render any services
or provide any advice, assistance or support to any Competing Business, whether as an employee, agent, representative, consultant, partner, officer, director or stockholder or in any other capacity; provided, however, that the Corporation
acknowledges and agrees that Executive may make a passive investment representing an interest of less than five percent (5%) of an outstanding class of publicly-traded securities of any corporation or other enterprise which may constitute a
Competing Business hereunder; 
 (ii) contact, solicit or call upon any customer of the Corporation on behalf of
any person or entity other than the Corporation for the purpose of selling any products or providing or performing any services of the type normally sold, provided or performed by the Corporation; or 

  
 6 

 (iii) induce or attempt to induce any person or entity to curtail or cancel
any business or contracts which such person or entity has with the Corporation. 
 For purposes of this
Agreement, a Competing Business shall be limited to the following: 
 A. the following companies and their subsidiaries and
affiliates: Automatic Data Processing, Ceridian Corporation, UnitedHealth Group, Aetna, Hewitt Associates, SHPS Inc., Bank of America, Citigroup, Fidelity Management and Research, First Data Corporation, Fiserv, M&I Bank, Bisys Group, and Total
Systems, 
 B. any entity or other business enterprise with less than $200 million of annual revenue that provides
administration of employee benefit programs or other outsourcing of human resources or benefits functions to clients and customers, and 
 C. any division or business unit of any entity or other business enterprise (no matter the size or the annual level of revenue of such entity, enterprise, division or unit) that provides administration of
employee benefit programs or other outsourcing of human resources or benefits functions to clients and customers. 
 9.
Termination of Employment. Executive’s employment pursuant to this Agreement is “at will” and may be terminated by either party in accordance with the following provisions: 

A. Upon Executive’s death or Incapacity (for which no reasonable accommodation is available) during the Employment Period, the
employment relationship created pursuant to this Agreement and the Employment Period shall immediately terminate. 
 B. The
Corporation may terminate Executive’s employment under this Agreement at any time for any reason, by providing written notice of such termination to him. If such termination notice is given to Executive, the Corporation may, if it so desires,
immediately relieve Executive of some or all of his duties. 
 C. Executive may terminate his employment under this Agreement at
any time by giving the Corporation written notice of such termination. 
 D. The Corporation may at any time, upon written
notice, discharge Executive from employment with the Corporation hereunder pursuant to a Termination for Cause. Such termination shall be effective immediately upon such notice. 

10. Payments Due Upon Any Termination. Upon any termination of Executive’s employment during the Employment
Period, the Corporation shall provide to Executive (or his estate): (i) any unpaid base salary earned under Paragraph 3 for services rendered through the date of termination and (ii) the dollar value of all accrued and unused vacation
benefits based upon Executive’s most recent level of base salary. All vesting of Executive’s outstanding Options shall cease at the time of his termination of employment, and Executive (or his estate) shall not have more than the limited
period of time specified in the applicable stock option agreement in which to exercise the Options following such termination of employment for any 

  
 7 

 
shares of Common Stock for which those Options are vested and exercisable at the time of such termination. In addition, in the event of termination under Section 9 A, Executive and/or his
estate shall be entitled to receive the payments and other benefits provided under Part Three of this Agreement. 
 PART THREE
- NORMAL SEVERANCE BENEFITS 
 11. Normal Severance Benefit Conditions. Should Executive’s employment
pursuant to this Agreement terminate by reason of an Involuntary Termination at any time other than during the Change in Control Severance Period, then Executive shall become eligible to receive the severance benefits provided under this Part Three.
Those benefits shall be in lieu of any other severance benefits for which Executive might otherwise be eligible by reason of his termination of employment under such circumstances. 

Notwithstanding the foregoing, Executive’s entitlement to severance benefits under this Part Three shall be subject
to the following requirements (collectively, the “Severance Benefit Conditions”): 
 A. In order to receive any
severance benefits under this Part Three, but not less than an amount equal to two (2) month of salary continuation payments and at least two (2) months of reimbursed Coverage Costs under Paragraphs 13(a) and 13(b), Executive must comply
with each of the following requirements: 
 (i) Executive shall, within sixty (60) days following such Involuntary
Termination, execute and deliver to the Corporation a Severance & General Release Agreement, in substantially the form attached as Exhibit B hereto (the “Release”), which must become effective and irrevocable, in accordance with
applicable law, no later than sixty (60) days following such Involuntary Termination (such deadline, the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any
rights to severance benefits under this Agreement. No severance benefits will be paid or provided until the Release becomes effective and irrevocable. Upon the Release becoming effective, any payments delayed from the date of Involuntary Termination
through the effective date of the Release will be payable in a lump sum without interest as soon as administratively practicable after the Release becomes effective and irrevocable and all other amounts will be payable in accordance with the payment
schedule applicable to each payment or benefit. In the event the Involuntary Termination occurs at a time during the calendar year where the Release Deadline is in the calendar year following the calendar year in which the Involuntary Termination
occurs, then any severance payments under this Agreement that would be considered deferred compensation under Code Section 409A will be paid on, or in the case of installments, will not commence until, the 61st day after the date of the
Involuntary Termination, or such later date as provided in Paragraph 18 of this Agreement. 
 The provisions of
this Agreement are intended to comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities
or ambiguous terms herein will be interpreted to so comply. The Corporation and 

  
 8 

 
Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions that are necessary, appropriate or desirable to avoid imposition of any
additional tax or income recognition prior to actual payment to Executive under Section 409A. 
 (ii) Executive shall have
complied with, and shall continue to comply with, all of Executive’s obligations under his Proprietary Information and Inventions Agreement with the Corporation (the “PIIA”). 

B. In order to receive additional severance benefits under this Part Three in excess of two (2) months of salary continuation
payments and two (2) months of reimbursed Coverage Costs (“Additional Severance Benefits”), Executive must comply with each of the additional requirements as follows: 

(i) Executive must comply with all of Executive’s obligations under his PIIA that survive the termination of his employment with
the Corporation. 
 (ii) Executive must comply with the restrictive covenants set forth in Paragraph 8 during each successive
month for which he is to receive salary continuation payments, reimbursement of Coverage Costs and a tax gross up payment related to such reimbursed Coverage Costs under Paragraph 12. 

In the event that Executive violates his PIIA, or elects to engage or otherwise engages in any of the activities
precluded by the restrictive covenants set forth in Paragraph 8, Executive shall not be entitled, after the date of such violation or activity (as the case may be), to receive any Additional Severance Benefits. 

12. Normal Severance Benefits. Subject to the requirements of Paragraph 13, the severance benefits to which Executive may
become entitled under this Part Three shall consist of the following: 
 A. Salary Continuation Payments.
Executive shall be eligible to receive his base salary for up to a total period of twelve (12) months at the annualized rate in effect for him under Paragraph 3 at the time of his Involuntary Termination; provided, however, that if Executive
voluntarily terminates employment within ninety (90) days following a material reduction of his base salary that constitutes an Involuntary Termination, then such salary continuation payments shall be based on the annualized rate of base salary
in effect for Executive immediately prior to such reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees, beginning with the first pay date
within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event shall the first such payment be made later than the last
day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Paragraph 18 of this Agreement. The salary continuation payments to which Executive becomes entitled in accordance with this
Paragraph 12(a) (or Paragraph 14(a), if applicable) shall be treated as a right to a series of separate payments for purposes of Section 409A, and each such payment that becomes due and payable during the period commencing with

  
 9 

 
the date of Executive’s Separation from Service and ending on March 15 of the succeeding calendar year is hereby designated a “Short-Term Deferral Payment” and shall be paid
during that period. 
 B. Health Care Coverage. Provided Executive and his spouse and
eligible dependents elect to continue medical care coverage under the Corporation’s group health care plans pursuant to the applicable COBRA provisions, the Corporation shall reimburse Executive for the costs he incurs to obtain such continued
coverage for himself, his spouse and his eligible dependents (collectively, the “Coverage Costs”) until the earliest to occur of (i) the expiration of the twelve (12)-month period measured from the first day of the calendar month
following the calendar month in which his Involuntary Termination occurs, (ii) the first date on which Executive and his spouse and eligible dependents are covered under another employer’s health benefit program without exclusion for any
pre-existing medical condition or (iii) the first date on which Executive elects to engage or otherwise engages in any of the activities precluded by the restrictive covenants of Paragraph 8. In order to obtain reimbursement for his Coverage
Costs, Executive must submit appropriate evidence to the Corporation of each periodic payment within sixty (60) days after the payment date, and the Corporation shall within thirty (30) days after such submission reimburse Executive for
that payment. During the period such medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement: (a) the amount of Coverage Costs eligible for reimbursement in any one calendar year of such coverage
shall not affect the amount of Coverage Costs eligible for reimbursement in any other calendar year for which such reimbursement is to be provided hereunder; (ii) no Coverage Costs shall be reimbursed after the close of the calendar year
following the calendar year in which those Coverage Costs were incurred; and (iii) Executive’s right to the reimbursement of such Coverage Costs cannot be liquidated or exchanged for any other benefit. To the extent the reimbursed Coverage
Costs are treated as taxable income to Executive, the Corporation shall report the reimbursement as taxable W-2 wages and collect the applicable withholding taxes, and the resulting tax liability shall be the Executive’s sole responsibility.
Any additional health care coverage to which Executive and his spouse and dependents may be entitled under COBRA following the period of such Coverage Cost reimbursement under this Paragraph 12(b) shall be at Executive’s sole cost and expense.

 C. Tax Gross-Up Payment. To the extent Executive becomes entitled to reimbursement of
Coverage Costs under Paragraph 12(b) and such reimbursement constitutes taxable income to Executive, he shall be entitled to an additional cash payment in a dollar amount sufficient to cover the federal and state income tax liability attributable to
such taxable income and the additional tax gross-up payment made hereunder. Unless a further deferral is required pursuant to Paragraph 18 of this Agreement, each such tax gross-up payment shall be paid to or on behalf of Executive within ten
(10) business days after the federal and state income taxes to which it relates are remitted to the appropriate tax authorities. Executive’s entitlement to the foregoing tax gross-up payment shall correspond to the same degree to which he
is entitled to the reimbursement of Coverage Costs under Paragraph 12(b) during the twelve (12)-month period measured from the first day of the calendar month following the calendar month in which his Involuntary Termination occurs. 

  
 10 

 PART FOUR - CHANGE IN CONTROL PAYMENTS 

This Part Four sets forth certain payments and benefits to which Executive may become entitled should ah Involuntary
Termination of employment occur at any time during the Change in Control Severance Period. 
 13. Change in Control
Severance Benefits Entitlement. Should Executive’s employment pursuant to this Agreement terminate by reason of an Involuntary Termination within the Change in Control Severance Period, then Executive shall become eligible to receive
the Change in Control Severance Payments set forth in Paragraph 14, subject to the conditions set forth therein. The Change in Control Severance Payments provided under this Part Four shall be in lieu of any other severance benefits for which
Executive might otherwise, by reason of the termination of his employment during the Change in Control Severance Period, be eligible under any other severance plan, program or arrangement of the Corporation, including Part Three of this Agreement.

 14. Change in Control Severance Benefits. The Change in Control Severance Payments for which Executive may
become eligible under this Part Four shall consist of the following payments and benefits: 
 A. Normal
Severance Benefits. Subject to bis satisfaction of the same Severance Benefit Conditions set forth in Paragraph 11, Executive shall be eligible to receive the same level of salary continuation payments, Coverage Cost reimbursements and
tax gross-up payments and at the same times as set forth in Paragraph 12. 
 B. Termination
Bonus. In addition, should the Change in Control be consummated, then the Board may, in its sole discretion (but taking into account the time elapsed in the Corporation’s fiscal year in which Executive’s Involuntary Termination
occurs and the performance of the Corporation during that portion of the fiscal year), authorize the payment to Executive of all or a portion of his annual bonus for the year of his Involuntary Termination (the “Termination Bonus”), and
any such Termination Bonus to which Executive becomes entitled shall be paid on the first business day, within sixty (60) days following the later of (i) the date of Executive’s Separation from Service due to such Involuntary
Termination or (ii) the effective date of the Change in Control, on which his required Release is effective. However, the benefits under this Paragraph 14(b), together with the benefits provided pursuant to Paragraphs 14(a) and 14(c), shall be
subject to the benefit limitation provisions of Part Five of this Agreement, and in no event shall any Termination Bonus be paid unless the Change in Control transaction is in fact consummated. For purposes of Section 409A, the Termination
Bonus (if any) shall be treated as a Short-Term Deferral Payment. 
 C. Regular Option
Acceleration. To the extent the Regular Options are outstanding at the time of Executive’s Involuntary Termination within the Change in Control Severance Period, but are not otherwise vested and exercisable then the unvested portion
of the Regular Options that would have otherwise vested and become exercisable had Executive completed an additional twenty-four (24) months of continued employment with the Corporation prior to the date of his Involuntary Termination (the
“Accelerable Portion”) shall all immediately vest and become exercisable. 

  
 11 

 D. The Regular Options, as so accelerated, together with all other Options held by Executive
that are vested and exercisable at the time of such Involuntary Termination, may be exercised for any or all of the underlying option shares as fully-vested shares. The Regular Options, as so accelerated, and all other vested options held by
Executive shall remain outstanding until the earlier of (i) the expiration date of the maximum option term or (ii) the expiration of the limited period of time specified in the applicable stock option agreement for which the option is to
remain exercisable following Executive’s termination of employment with the Corporation. 
 PART FIVE - LIMITATION ON
BENEFITS 
 15. No Duplication of Benefits. In no event shall Executive be entitled to benefits and payments
under both Parts Three and Four of this Agreement. 
 16. Benefit Limit. The benefit limitations of this Part Five
shall be applicable in the event Executive receives any benefits under this Agreement that are deemed to constitute parachute payments under Code Section 280G. 

In the event that any payments to which Executive becomes entitled in accordance with the provisions of this Agreement
would otherwise constitute a parachute payment under Code Section 280G, then such payments will be subject to reduction to the extent necessary to assure that Executive receives only the greater of (i) the amount of those
payments which would not constitute such a parachute payment or (ii) the amount which yields Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed on the payments provided to Executive under this
Agreement (or on any other benefits to which Executive may become entitled in connection with any change in control or ownership of the Corporation or the subsequent termination of his employment with the Corporation) under Code Section 4999.

 Notwithstanding the foregoing, in determining whether the benefit limitation of this Paragraph 16 has been
exceeded, a reasonable determination shall be made as to the value of the restrictive covenants to which Executive will be subject under Paragraph 8, and the amount of his potential parachute payment shall accordingly be reduced by the value of
those restrictive covenants to the extent consistent with Code Section 280G and the Treasury Regulations thereunder. 
 Should a reduction in benefits be required to satisfy the benefit limit of this Paragraph 16, then Executive’s salary continuation payments under Paragraph 12(a) or 14(a), as applicable, shall
accordingly be reduced (with such reduction to be effected pro-rata to each payment) to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then any bonus amount to which
Executive may become entitled under Paragraph 14(b) shall be reduced next, and finally the number of shares as to which the Options would otherwise vest on an accelerated basis in accordance with Paragraph

  
 12 

 
14(c) shall be reduced (based on the value of the parachute payment attributable to such option under Code Section 280G), to the extent necessary to eliminate such excess. 

PART SIX - MISCELLANEOUS PROVISIONS 
 17. Separation from Service. For purposes of this Agreement, “Separation from Service” shall mean Executive’s cessation of Employee status and shall be deemed to occur
at such time as the level of the bona fide services Executive is to perform in Employee status (or as a consultant or other independent contractor) permanently decreases to a level that is not more than twenty percent (20%) of the average level
of services Executive rendered in Employee status during the immediately preceding thirty-six (36) months (or such shorter period for which Executive may have rendered such service). Any such determination as to Separation from Service,
however, shall be made in accordance with the applicable standards of the Treasury Regulations issued under Code Section 409A. For purposes of determining whether Executive has incurred a Separation from Service, Executive will be deemed to
continue in “Employee” status for so long as he remains in the employ of one or more members of the Employer Group, subject to the control and direction of the employer entity as to both the work to be performed and the manner and
method of performance. “Employer Group” means the Corporation and any other corporation or business controlled by, controlling or under common control with, the Corporation as determined in accordance with Sections 414(b) and
(c) of the Code and the Treasury Regulations thereunder, except that in applying Sections 1563(a)(1), (2) and (3) for purposes of determining the controlled group of corporations under Section 414(b), the phrase “at least 50
percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in such sections and in applying Section 1.414(c)-2 of the Treasury Regulations for purposes of determining trades or businesses that
are under common control for purposes of Section 414(c), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in Section 1.414(c)-2 of the Treasury
Regulations. In addition to the foregoing, a Separation from Service will not be deemed to have occurred while Executive is on a sick leave or other bona fide leave of absence if the period of such leave does not exceed six (6) months or any
longer period for which Executive is provided with a right to reemployment with the Corporation by either statute or contract; provided, however, that in the event of a leave of absence due to any medically determinable
physical or mental impairment that can be expected to result in death or to last for a continuous period of not less than six (6) months and that causes Executive to be unable to perform his duties as an Employee, no Separation from Service
shall be deemed to occur during the first twenty-nine (29) months of such leave. If the period of leave exceeds six (6) months (or twenty-nine (29) months in the event of disability as indicated above) and Executive is not provided
with aright to reemployment by either statute or contract, then Executive will be deemed to have Separated from Service on the first day immediately following the expiration of the applicable six (6)-month or twenty-nine (29)-month period.

 18. Delayed Commencement of Payments and Benefits. 

A. Notwithstanding any provision to the contrary in this Agreement (other than Paragraph 18.B. below), no payments,
benefits or reimbursements to which Executive becomes entitled under Paragraph 12 or 14 of this Agreement (other than reimbursement of 

  
 13 

 
Coverage Costs during the applicable period of COBRA coverage) shall be made or paid to Executive prior to the earlier of (i) the first business day of the seventh
month following the date of Executive’s Separation from Service or (ii) the date of Executive’s death, if (a) Executive is deemed at the time of such Separation from Service a “specified employee” within the meaning of
that term under Section 409A, (b) the stock of the Corporation or any successor entity is publicly traded on an established market and (c) such delayed commencement is otherwise required in order to avoid a prohibited distribution
under Section 409A(a)(2). Upon the expiration of the applicable deferral period, all payments deferred pursuant to this Paragraph 18.A. shall be paid in a lump sum to Executive, and any remaining payments, benefits or reimbursements due under
this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 If Executive is, at any time during the twelve-month period ending on the last day of any calendar year, deemed to be a “key employee” within the meaning of that term under Code
Section 416(i), then Executive shall be deemed to be a specified employee subject to the delayed payment provisions of this Paragraph 18.A. for the period beginning on the April 1 of the following calendar year and ending on the
March 31 of the next year thereafter. 
 B. The six month holdback set forth in Paragraph 18.A. above shall
not be applicable to (i) any salary continuation payments under Paragraph 12(a) or 14(a) that qualify as Short-Term Deferral Payments and (ii) any remaining portion of such payments paid after Executive’s Separation from Service to
the extent (A) that the dollar amount of those payments does not exceed two (2) times the lesser of (x) Executive’s annualized compensation (based on his annual rate of pay for the calendar year preceding the calendar year of his
Separation from Service, adjusted to reflect any increase during that calendar year which was expected to continue indefinitely had his Separation from Service not occurred or (y) the maximum amount of compensation that may be taken into
account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s Separation from Service occurs, and (B) such payments are to be made to Executive no later than the last day of the second
calendar year following the calendar year in which the Separation from Service occurs. 
 19. No Entitlement to
Benefits. In no event shall Executive be entitled to any benefits under Part Three or Part Four of this Agreement if his employment ceases by reason of a Termination for Cause or if he voluntarily resigns other than for a reason which
qualifies as grounds for an Involuntary Termination. 
 20. Successors and Assigns. The provisions of this
Agreement shall inure to the benefit of, and shall be binding upon, (i) the Corporation and its successors and assigns, including any successor entity by merger, consolidation or transfer of all or substantially all of the Corporation’s
assets (whether or not such transaction constitutes a Change in Control), and (ii) Executive, the personal representative of his estate and his heirs and legatees. 
 21. Notices. 
 A. Any and all notices, demands or other
communications required or desired to be given hereunder by any party shall be in writing and shall be validly given or made to another party if delivered either personally or if deposited in the United States mail, certified or

  
 14 

 
registered, postage prepaid, return receipt requested. If such notice, demand or other communication shall be delivered personally, then such notice shall be conclusively deemed given at the time
of such personal delivery. 
 B. If such notice, demand or other communication is given by mail, such notice shall be
conclusively deemed given forty-eight (48) hours after deposit in the United States mail addressed to the party to whom such notice, demand or other communication is to be given as hereinafter set forth: 

To the Corporation: 
 Wage Works, Inc. 
 1100 Park Place, 4th Floor 

San Mateo, CA 94403 
 Attn: Board of Directors 
 To Executive: 

Joseph Jackson 
 c/o Wage Works, Inc. 
 1100 Park Place, 4th Floor 

San Mateo, CA 94403 
 C. Any party hereto may change its address for the purpose of receiving notices, demands and other communications as herein provided by a written notice given in the manner aforesaid to the other party
hereto. 
 22. General Creditor Status. The benefits to which Executive may become entitled under Part Three or
Part Four of this Agreement shall be paid, when due, from the Corporation’s general assets, and no trust fund, escrow arrangement or other segregated account shall be established as a funding vehicle for such payments. Accordingly,
Executive’s right (or the right of the executors or administrators of Executive’s estate) to receive such benefits shall at all times be that of a general creditor of the Corporation and shall have no priority over the claims of other
general creditors. 
 23. Governing Documents. This Agreement, together with (i) the stock option agreements
evidencing Executive’s currently outstanding Options and any future Option grants and (ii) his PIIA, shall constitute the entire agreement and understanding of the Corporation and Executive with respect to the terms and conditions of
Executive’s employment with the Corporation and the payment of severance benefits and shall supersede all prior and contemporaneous written or verbal agreements and understandings between Executive and the Corporation, including (without
limitation) the Prior Agreement, relating to such subject matter. This Agreement may only be amended by written instrument signed by Executive and an authorized officer of the Corporation. Any and all prior agreements, understandings or
representations relating to Executive’s employment with the Corporation, other than (i) the stock option agreements evidencing Executive’s currently outstanding Options and (ii) his PIIA, are hereby terminated and cancelled in
their entirety and are of no further force or effect. 

  
 15 

 24. Governing Law. The provisions of this Agreement shall be construed and
interpreted under the laws of the State of California applicable to agreements executed and wholly performed within the State of California. If any provision of this Agreement as applied to any party or to any circumstance should be adjudged by a
court of competent jurisdiction or determined by an arbitrator to be void or unenforceable for any reason, the invalidity of that provision shall in no way affect (to the maximum extent permissible by law) the application of such provision under
circumstances different from those adjudicated by the court or determined by the arbitrator, the application of any other provision of this Agreement, or the enforceability or invalidity of this Agreement as a whole. Should any provision of this
Agreement become or be deemed invalid, illegal or unenforceable by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the extent necessary to conform to applicable law so as to be valid and
enforceable and consistent with the intent of the Parties hereto. If such provision cannot be so amended without altering the intention of the parties, then such provision, including any consideration specifically tied to such provision, will be
stricken and the remainder of this Agreement shall continue in full force and effect. It is the express intent of the Parties that should any of the Severance Benefit Conditions of Paragraph 11(b) be void or unenforceable as written herein then
Executive shall not be entitled to any Additional Severance Benefits under Part Three or under Part Four (as the case may be), or to any Additional Monthly Option Vesting under Part Four. 

25. Arbitration. 
 A. Each party agrees that any and all disputes which arise out of or relate to Executive’s employment, the termination of Executive’s employment or the terms of this Agreement shall be resolved
through final and binding arbitration. Such arbitration shall be in lieu of any trial before a judge and/or jury, and Executive and Corporation expressly waive all rights to have such disputes resolved through trial before a judge and/or jury. Such
disputes shall include, without limitation, claims for breach of contract or of the covenant of good faith and fair dealing, claims of discrimination, claims under any federal, state or local law or regulation now in existence or hereinafter enacted
and as amended from time to time concerning in any way the subject of Executive’s employment with the Corporation or its termination. 
 B. Arbitration shall be held in San Mateo County, California and conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association
(“AAA Rules”), provided, however, that the arbitrator shall allow the discovery authorized by California Code of Civil Procedure section 1282, et seq., or any other discovery required by applicable law in arbitration proceedings. To the
extent that any of the AAA Rules or anything in this Paragraph 25 conflict with applicable law, the arbitration procedures required by applicable law shall govern. 
 C. During the course of the arbitration, the Corporation will pay the arbitrator’s fee and any other type of expense or cost that Executive would not otherwise be required to bear if he were free to
bring the dispute or claim in court and any other expense or cost that is unique to arbitration. The Corporation and Executive shall each bear its or his own respective attorneys’ fees incurred in connection with the arbitration, and the
arbitrator shall award reasonable attorneys’ fees and costs of arbitration to the prevailing party. If there is a 

  
 16 

 
dispute as to whether Executive or the Corporation is the prevailing party in the arbitration, the arbitrator will decide the issue. 

D. The arbitrator shall issue a written award that sets forth the essential findings of fact and conclusions of law on
which the award is based. The arbitrator shall have the authority to award any relief authorized by law in connection with the asserted claims or disputes. The arbitrator’s award shall be subject to correction, confirmation, or vacation, as
provided by applicable law setting forth the standard of judicial review of arbitration awards. Judgment upon the arbitrator’s award may be entered in any court having jurisdiction thereof. 

26. Counterparts. This Agreement may be executed in more than one counterpart, each of which shall be deemed an original,
but all of which together shall constitute but one and the same instrument. 
 [Signature page immediately follows.] 

  
 17 

 IN WITNESS WHEREOF, the parties have executed this Second Amended and Restated Employment Agreement
as of the dates indicated below. 
  

			
	WAGEWORKS, INC.
		
	 By:
	 	 /s/ John W. Larson

		
	 Title:
	 	 Chairman of the Board

		
	 Dated:
	 	                 , 2010

	
	EXECUTIVE
	
	 /s/ Joseph L. Jackson

	
	JOSEPH L. JACKSON
	
	 Dated: 11/19/10

  
 18 

 EXHIBIT A 
 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

  
 19 

 EXHIBIT B 
 FORM OF SEVERANCE & GENERAL RELEASE AGREEMENT 

 SEVERANCE & GENERAL RELEASE AGREEMENT 

I,
                                        ,
of behalf of myself, my heirs, administrators and representatives, enter into this Severance & General Release Agreement (“Release”) in exchange for the severance benefits under Part Three / Part Four of that certain Second
Restated and Amended Employment Agreement between WageWorks, Inc. (the “Corporation”) and myself, dated                     , 2010
(the “Agreement”), following the [ DATE ] Involuntary Termination of my employment with the Corporation. 
 1. I
represent that (i) I have received from the Corporation all wages earned by me and other amounts owed to me as a result of my employment with the Corporation through my Involuntary Termination; (ii) I have returned to the Corporation all
items of property that the Corporation paid for and/or provided to me for my use during employment with the Corporation; and (iii) I have returned the Corporation all documents, materials and writings made or received by me during the course of
my employment with the Corporation (including copies, excerpts and summaries, whether in paper or electronic form) except my personal copies of documents evidencing my hire, compensation, benefits and stock options, the Agreement, my Proprietary
Information and Inventions Agreement with the Corporation (“PIIA”), and any documents I received from the Corporation as a stockholder of the Corporation. 
 2. I hereby waive, release and forever discharge the Corporation, its current and former officers, directors, agents, employees, stockholders, successors, assigns, parent, subsidiary and affiliated
entities (collectively, “Releasees”) from any and all claims, liabilities, demands, causes of action, costs, expenses, attorney fees, damages and obligations of every kind and nature, in law, equity or otherwise, known and unknown,
suspected and unsuspected, disclosed and undisclosed, arising from or relating to any acts or omissions occurring on and prior to the date I sign this Release, including (without limitation) those arising from or relating to my hiring and
employment with the Corporation and the termination of that employment (collectively, “Claims”), including (without limitation) Claims of wrongful discharge, infliction of emotional distress, defamation, fraud, breach of contractual
obligations, violation of public policy, discrimination, harassment and retaliation in violation of applicable law, including under the federal Age Discrimination in Employment Act of 1967 (“ADEA”), and all Claims for violation of any
other applicable federal, state and/or local law. 
 (a) In furtherance of my intent to waive, release and
forever discharge all Claims against the Releasees, including those that are presently “known and unknown, suspected and unsuspected, disclosed and undisclosed,” I also waive all rights and benefits conferred on me (if any) by
Section 1542 of the California Civil Code and by any comparable provision of other applicable law. I understand that Section 1542 provides: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially
affected his or her settlement with the debtor. 
 I understand that this means that, if I later discover facts different from
or in addition to those that I know or believe to be true as of the date this Release becomes effective, that this Release shall be and remain in full force and effect in all respects notwithstanding such different or additional facts or my later
discovery of such facts. 

 (b) The only exceptions to my waiver, release and discharge of this
Paragraph 2 are any Claims I may have (i) for severance benefits under the Agreement; (ii) for benefits under a government-administered benefits program such as, but not limited to, unemployment insurance benefits; (iii) for
workers’ compensation benefits under any of the Corporation’s workers’ compensation insurance policy or fund (and I represent that I have provided written report(s) to the Corporation’s General Counsel and/or Vice President of
Human Resources of all work-related illnesses or injuries I have incurred during my employment with the Corporation); (iv) for any benefits vested under any written employee benefit plan sponsored by the Corporation and governed by ERISA;
(v) arising from acts or omissions by any Releasees occurring after the date I sign this Release; and (v) which, under applicable law, are not waivable. 
 3. I understand that (i) I shall have twenty-one (21) days from the date of my Involuntary Termination during which to consider this Release, to consult with an attorney of my own choosing to
help me decide whether to sign this Release (which consultation the Corporation advises me to obtain), and to sign this Release if I so choose; (ii) I have seven (7) days after the date I sign this Release during which I can revoke my
signature agreement to this Release by providing written notice to the Corporation’s Vice President of Human Resources of my revocation; (iii) this Release will not become effective until the eighth day after I have signed this Release,
provided that I have not timely revoked my signature agreement to this Release; and (iv) by signing and allowing this Release to become effective, I am forever waiving, releasing and discharging important rights, including my right to any
Claims for damages or other personal relief under the ADEA. 
 4. I represent and warrant that (i) I have carefully read
and understand the terms and conditions of the Agreement, my PIIA and this Release (collectively, “My Agreements”), (ii) I am not signing this Release in reliance on any promise or representation not contained in any of My Agreements;
and (iii) I sign this Release knowingly, voluntarily and without coercion or duress. 
  

			
	 Date:
	 	  

			
	 Signature:
	 	  

			
	 Print Name:
	 	  

  
 2Sublease Agreement by and between Fringe Benefits Management Co. and Registrant

 Exhibit 10.19 
 SUBLEASE AGREEMENT 
 This SUBLEASE AGREEMENT (this
“Sublease”) is entered into as of June 1, 2011, by and between FBMC BENEFITS MANAGEMENT, INC., a Florida corporation (“FBMC”), and WageWorks, Inc., a Delaware corporation (“WW”).

 W I T N E S S E T H: 
 WHEREAS, FBMC and WW have previously entered into that certain Asset Purchase Agreement dated as of November 30, 2010 (the “APA”), pursuant to which, among other things, WW acquired
FBMC’s rights under the Assumed Contracts (as such term is defined in the APA), as well as other Purchased Assets (as such term is defined in the APA), all on the terms and conditions set forth in the APA. 

WHEREAS, FBMC and WW have previously entered into that certain Shared Services Agreement dated as of November 30,
2010 (the “SSA”), pursuant to which, among other things, FMBC agreed to provide certain services to WW on the terms and conditions set forth in the SSA. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties contained herein, the parties
agree as follows: 
  

	1.	Facility License. 

  

	 	1.1.	 License. FBMC hereby grants WW a license (the “Facility License”) to enter and use the facility located at
3101 Sessions Road Tallahassee, Florida 32303 (“Licensed Facility”) and certain equipment and other resources therein during the Term (as defined below), subject to the terms and conditions set forth herein.

  

	 	1.1.1.	 Restricted Areas. Certain areas of the Licensed Facility may be restricted from access by WW personnel, including but not limited to the data
center, network wiring closets, HVAC mechanical rooms and portions of the Licensed Facility in use by FBMC (the “Restricted Areas”). Access to the Restricted Areas will be controlled by FBMC. 

 

	 	1.1.2.	Terms of Use. The terms of WW’s use of the Licensed Facility are specified below: 

 

	 	1.1.2.1.	 WW is required to notify FBMC as soon as possible of any events or incidents involving the Licensed Facility or security of the Licensed Facility.

  

	 	1.1.2.2.	 WW is required to notify FBMC as soon as possible of any known risks or perils that might impact or endanger any occupants of the Licensed Facility.

  

	 	1.1.2.3.	 WW is required to follow any FBMC policies that govern the maintenance or security of the Licensed Facility. 

 

	2.	Services. 

  

	 	2.1.	 Services. FBMC shall provide to WW the following support services (the “Services”) associated with the Licensed Facility.
Payment for the Services is included in the Facility Fee listed in the 

 paragraph 1.3 of the SSA unless otherwise noted. All Services apply only to the
Licensed Facility unless otherwise noted. 
  

	 	2.1.1.	 Service Hours. The Services are to be provided between the hours of 8:00 am and 5:00 pm ET unless otherwise noted or except when the facility
is closed due to holidays, inclement weather or as a result of conditions beyond FBMCs’ control such as, but not limited to, war, strikes, fires, floods, acts of God, governmental restrictions, power failures, or damage or destruction of the
facility. 

  

	 	2.1.2.	 Common Areas. The following areas are designated as common areas with shared usage among FBMC and WW: 

 

	 	2.1.2.1.	First floor break room; 

	 	2.1.2.2.	First floor reception area; 

	 	2.1.2.3.	First floor main hallway (running north to south); 

	 	2.1.2.4.	Main parking lot and overflow parking lot; and 

	 	2.1.2.5.	Conference Rooms A and B (unless converted to employee work space). 

  

	 	2.1.3.	Utilities and Water. FBMC will provide utilities and water to WW. 

  

	 	2.1.4.	 Connectivity. FBMC will provide connectivity to all power sources in the facility as needed. FBMC will provide connectivity to the FBMC
telephone system, FBMC Internet and FBMC network as outlined in Schedule B of the SSA, or until such time as WW transitions to their own telephone system, internet and network connections. 

 

	 	2.1.5.	 Annual Back-flow Prevention Testing. As required by the City of Tallahassee, FBMC will continue to facilitate the annual Backflow Prevention
Assembly testing and acquire annual certification of completion in accordance with the City Ordinance. 

  

	 	2.1.6.	 Facility Access Control. FBMC will maintain WW issued HID security cards issued to WW employees in Tallahassee and Ormond Beach offices
within the Sonitrol Security System. This service will include maintaining reasonable security levels as defined by WW, activating and deactivating cards and providing Sonitrol system reports as requested. WW must notify FBMC as soon as reasonably
possible of employee terminations in order to maintain facility security. 

  

	 	2.1.7.	 Facility Security. FBMC will monitor and maintain an alarm system that will detect fire, smoke and break-ins. Facility security incidents
will be managed by FBMC personnel. The fire alarm system will be maintained by FBMC, and will be inspected annually by an authorized technician. FBMC will conduct an annual fire alarm drill to test the alarm system and evacuation procedures.

  

	 	2.1.8.	 After Hours Security. FBMC will provide one security officer from 6:00 pm until 10:30 pm Monday through Friday. Random security checks will
be conducted over the weekends. After hours security incidents will be managed by FBMC personnel. 

  

	 	2.1.9.	Janitorial Service. FBMC will provide daily janitorial service for the facility. 

 

	 	2.1.10.	Sanitation Supplies. FBMC will provide sanitation supplies for all restrooms. 

  
 - 2 -

	 	2.1.11.	 Breakroom. FBMC will maintain vending machine services for the breakroom. FBMC will care for and maintain the refrigerator, ice machine and
water cooler in the breakroom. 

  

	 	2.1.12.	Irrigation System Maintenance. FBMC will provide maintenance to the facilities irrigation system. 

 

	 	2.1.13.	 Building Maintenance. Routine building maintenance will be performed by FBMC to include maintaining lighting both interior and exterior,
window treatments, ceiling tiles, door locks and handles, carpeting, painting, electrical, HVAC, generator and generator fuel, elevator, plumbing, roofing, exterior façade of building, parking lot, speed bumps, signage and all other issues
related to the upkeep and general maintenance of the building. Damages caused by WW personnel resulting in maintenance requests that are not routine will be billed to WW at a rate of $25.00 per hour. Services requiring an outside vendor as a result
of improper use of plumbing, lighting, etc. will be billed to WW. 

  

	 	2.1.14.	 Reserved Parking Spaces. FBMC will designate and maintain reserved parking spaces for WW management staff consistent with the guidelines used
by FBMC. When notified by WW, FBMC will designate and maintain reserved parking spaces for WW employees with ten or more years of service. 

  

	 	2.1.15.	 Dumpster. FBMC will provide a dumpster for facility trash disposal. 

 

	 	2.1.16.	 Landscaping and Lawn Maintenance. Landscaping and lawn maintenance will be provided by FBMC. 

 

	 	2.1.17.	Fire Extinguishers. Annual fire extinguisher inspections will be provided by FBMC. FBMC will ensure that all fire extinguishers are certified annually and
replaced as needed. 

  

	 	2.1.18.	Pest Control. Monthly pest control services will be provided by FBMC. 

 

	 	2.1.19.	Termite Inspection. Termite inspections will be performed every four (4) years by FBMC. 

 

	 	2.1.20.	Parking Lot Flag. FBMC will maintain the flag and flag pole in the main parking lot. 

 

	 	2.1.21.	Floor Mats. Floor mats located at the entry ways of the building will be maintained by FBMC. 

 

	 	2.1.22.	Window Cleaning. Window cleaning will performed as needed and will be provided by FBMC. 

 

	 	2.1.23.	 Easement. The easement is maintained by Sessions Road Partnership and FBMC. FBMC shall continue to keep the easement free from overgrowth and
will maintain the drive way to the facility and the sidewalk areas. 

  

	 	2.1.24.	 Records Retention and Access. Historical client records data dated prior to December 1, 2010 that is stored off-site will remain the
property of FBMC since 

  
 - 3 -

 FBMC will continue to be liable for any activity that occurred during those
plan years. FBMC will continue to maintain the storage of these documents, and will provide access to WW as needed with reasonable notification. FBMC will appropriately destroy these documents as they exceed their retention date. 

 

	 	2.1.25.	 Company Vehicles. FBMC will provide services as needed for transporting materials to be archived or withdrawn from the off-site storage
facilities for WW on an as needed basis for a period which represents the life of the documents (before date of destruction). 

  

	 	2.1.26.	 Climate/Temperature Control. FBMC will be responsible for maintaining the climate control in the building. 

 

	 	2.1.27.	Interior Office Plants. FBMC will provide for the care and maintenance of FBMC-owned plants throughout the facility. 

 

	 	2.1.28.	 Work Area Moves. With reasonable notice, FBMC will coordinate and conduct reasonable requests for workstation or work area moves within the
facility. FBMC will supply office furniture configurations to accommodate WW staffing requirements except in cases where additional expense to FBMC would be incurred. In those instances, FBMC and WW may negotiate shared expenses. Restacking of space
will be scheduled at a time that is mutually acceptable to WW and FBMC. All cubicles and offices that are scheduled to be moved, broken down or any changes in floor plan design will be facilitated through FBMC Facilities Maintenance to ensure proper
break-down and set-up and maintain the integrity of the work stations and to keep warranties in effect. 

  

	 	2.1.29.	 Conference Rooms and Conference Room Setup. With reasonable notice, FBMC will allow WW to utilize available conference space throughout the
Licensed Facility. FBMC will provide setup and breakdown services for use of conference rooms and WW will follow FBMC’s established request procedures to secure the use of conference rooms. 

 

	 	2.2.	Exclusions. 

  

	 	2.2.1.	 Cubicles. WW is prohibited from changing any cubicle configurations, removing cubicles or doing any type of repair or maintenance to
cubicles. Activity of this type must be conducted by an authorized vendor representative or it will invalidate FBMC’s warranty on the cubicles. Any cubicle change that is needed should be requested through FBMC’s Facility Management
department. These services will be billed back to WW at the vendor’s current rate. 

  

	 	2.2.2.	Company Vehicles. WW staff will not be authorized to drive FBMC company vehicles. 

 

	 	2.2.3.	 Replacement Costs. Replacement keys will be billed back to WW at a cost of $7.00 per cubicle/furniture key and $10.00 per door/building key.

  

	 	2.2.4.	 Office Supplies. FBMC will not provide office supplies. Copy machine services and paper will be addressed in a separate agreement.

  
 - 4 -

	 	2.2.5.	 Insurance. FBMC will not provide any type of insurance for WW assets, liabilities or employees. 

 

	 	2.2.6.	 Off-Site Storage. FBMC will not provide off-site storage space for claims documents or any other WW documents dated December 1, 2010 or
after. 

  

	 	2.2.7.	 Recycling and Document Shredding. FBMC will not provide recycling or document shredding services. 

 

	 	2.3.	 Term; License Fee. FBMC shall provide the Services for sixty (60) months commencing on December 1, 2010 (“Initial
Term” and together with any extension thereof, the “Term”). For the first thirty-six (36) months of the Initial Term, the price shall be $32.00 per year per square foot of space utilized by WW (the “License
Fee”). On or before the thirty-third (33rd) month of the Initial Term, the parties shall complete a joint review of prevailing local market conditions and rates for comparable space and services and if this review reveals that the
then-current price for comparable space and services deviates by more than ten percent (10%) from the License Fee, then the License Fee shall be revised to that for the final twenty-four (24) months of the Initial Term.

  

	 	2.4.	 Independent Contractor. The parties hereto understand and agree that this Sublease does not make either of them an agent or legal
representative of the other for any purpose whatsoever: No party is granted, by this Sublease or otherwise, any right or authority to assume or create any obligation or responsibilities, express or implied, on behalf of or in the name of any other
party, or to bind any other party in any manner whatsoever. The parties expressly acknowledge (a) that FBMC is an independent contractor with respect to provision of the Services in all respects, and (b) that the parties are not partners,
joint venturers, employees or agents of or with each other. 

  

	3.	 Dispute Resolution. In the event of any dispute between the parties with respect to this Sublease, the parties will use reasonable commercial
efforts to resolve the dispute promptly. If the parties are unable to resolve the dispute within fifteen (15) business days, such dispute will be resolved in accordance with the procedures set forth in the APA with respect to disputes arising
out the APA. 

  

	4.	 General. 

  

	 	4.1.	 Termination. This Sublease may be terminated earlier as follows: 

 

	 	4.1.1.	 By mutual written consent of both parties; 

  

	 	4.1.2.	 By either party entitled to the benefit of the performance of any of the obligations under this Sublease (the “Non-Defaulting
Party”), if the other party (the “Defaulting Party”) shall fail to perform or default in such performance in any material respect, subject to compliance with the remainder of this paragraph. The Non-Defaulting Party shall
give written notice to the Defaulting Party specifying the nature of such failure or default and stating that the Non-Defaulting Party intends to terminate this Sublease with respect to the Defaulting Party if such failure or default is not cured
within thirty (30) days after receipt of such written notice. If any failure or default so specified is not cured within such period, the Non-Defaulting Party may elect to immediately terminate this Sublease; provided, however,
that if the failure or default relates to a dispute contested in good faith by the Defaulting Party, the Non-Defaulting Party may not terminate this Sublease pending the resolution of such dispute in accordance with Section 2.4 hereof. Such
termination shall be effective upon giving a written notice of 

  
 - 5 -

 termination from the Non-Defaulting Party to the Defaulting Party and shall
be without prejudice to any other remedy which may be available to the Non-Defaulting Party against the Defaulting Party; or 
  

	 	4.1.3.	 Automatically, without notice by or to either party, if: (a) either party shall (i) apply for or consent to the appointment of, or the
taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its properties, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the
United States Bankruptcy Code, as now or hereafter in effect (the “Bankruptcy Code”), (iv) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency,
reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or
(iv) take any corporate action for the purpose of effecting any of the foregoing; or (b) a proceeding or case shall be commenced against either party in any court of competent jurisdiction, seeking (i) its liquidation, reorganization,
dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of such party or of all or any substantial part of its assets, or (iii) similar
relief under any Bankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of ninety (90) days, or an order for relief against such party shall be entered in an
involuntary case under the Bankruptcy Code. 

  

	 	4.2.	 Effect of Termination. The obligations of the parties under this Sublease shall cease upon the effective date of termination of this
Sublease, unless otherwise agreed to by the parties. 

  

	 	4.3.	 Force Majeure. Neither party will be held liable to the other for any delay or failure of performance to the extent such delay or failure
results from events beyond that party’s control, including without limitation acts of God, earthquakes, fires, floods, civil disturbance, strikes, labor disputes, and lawful governmental action (a “Force Majeure Event”). The
party claiming suspension due to a Force Majeure Event shall give prompt notice to the other party hereto of the occurrence of the Force Majeure Event giving rise to the delay or failure to perform under this Sublease and of its nature and
anticipated duration, and such party will use its reasonable efforts to cure the cause of the delay or failure to perform promptly and shall resume performance as soon as the Force Majeure Event has ended. 

 

	 	4.4.	 Survival. Notwithstanding the expiration or early termination of this Sublease or any Services hereunder, Sections 2.4, 4.3, 4.5, 4.6
and 4.11 will survive. 

  

	 	4.5.	 Amendment; Waiver. This Sublease may be amended, and any provision of this Sublease may be waived, if but only if such amendment or waiver is
in writing and signed, in the case of an amendment, by both parties, or in the case of a waiver, by the party against whom the waiver is effective. No failure or delay by any party in exercising any right, power or privilege under this Sublease
shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

 

	 	4.6.	 Notices. All communications provided for hereunder shall be in writing and shall be deemed to be given when delivered in person or by private
courier with receipt, when telefaxed and received, or three (3) days after being deposited in the United States mail, first-class, registered or certified, return receipt requested, with postage paid and, 

  
 - 6 -

 If to FBMC: Attn: Patricia K. Neely 

3101 Sessions Road Tallahassee, FL 32303 
 Telephone: 850-425-6200 
 Fax: 850-425-6220 

With a copy to: John Marks III, Esq. 
 Marks & Marks, LLC 
 200 W College Avenue; Ste 225 

Tallahassee, FL 32301 
 Telephone: (850) 222-5139 
 FAX: (850) 222-9732 

If to WW: Attn: General Counsel 
 1100 Park Place, 4 Floor 
 San Mateo, CA 94403 

Fax: 650-577-5209 
 With a copy to: David J. Segre 
 Wilson Sonsini Goodrich & Rosati,
P.C. 
 650 Page Mill Road 
 Palo Alto, CA 94304 
 Fax: (650) 493-6811 

or to such other address as any such party shall designate by written notice to the other party hereto. 

 

	 	4.7.	Non Assignability. Neither party may, in whole or in part, assign or transfer this Sublease without the other party’s prior written consent, which consent
shall not be unreasonably withheld. Any attempted assignment, transfer or delegation without such prior written consent will be void. This Sublease will be binding upon and inure to the benefit of the parties and their permitted successors and
assigns. 

  

	 	4.8.	Counterparts; Effectiveness. This Sublease may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together
shall be deemed to be one and the same instrument. Copies of executed counterparts transmitted by telecopy, telefax or other electronic transmission service shall be considered original executed counterparts for purposes hereof, provided that
receipt of copies of such counterparts is confirmed. This Sublease shall become effective when each party has received a counterpart hereof signed by the other party hereto. 

 

	 	4.9.	Section Headings. The section headings contained in this Sublease are for reference purposes only and shall not affect the meaning or interpretation of this
Sublease. 

  

	 	4.10.	Severability. If any provision of this Sublease shall be declared by any court of competent jurisdiction to be illegal, void or unenforceable, all other
provisions of this Sublease shall not be affected and shall remain in full force and effect, and the parties shall negotiate in good faith to replace such illegal, void or unenforceable provision with a provision that corresponds as closely as

  
 - 7 -

 possible to the intentions of the parties as expressed by such illegal, void, or
unenforceable provision. 
  

	 	4.11.	Governing Law. This Sublease shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might
otherwise govern under applicable principles of conflicts of laws thereof. 

 [Remainder of Page Intentionally
Left Blank] 

  
 - 8 -

 IN WITNESS WHEREOF, the parties hereto have executed this Sublease as of the day and year
first above written. 
 FBMC BENEFITS MANAGEMENT, INC. 
 By:         /s/ Patricia K. Neely 

Name:    Patricia K. Neely 
 Title:      Chief Compliance Officer & VP 
 WAGEWORKS,
INC. 
 By:         /s/ Joseph L. Jackson 

Name:    Joseph L. Jackson 
 Title:      Chief Executive Officer 

[Signature Page to Sublease Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]