Document:

exv10w2

Exhibit 10.2

SEPARATION AND GENERAL RELEASE AGREEMENT

     This Separation and General Release Agreement (this “Agreement”), is entered into this 31st
day of March, 2010 (the “Effective Date”), by and between Hossein M. Moghadam (“Moghadam”) on the
one hand, and Western Digital Corporation (“WDC”), on behalf of itself and all other corporations
or other entities a majority of whose outstanding voting stock or voting power is beneficially
owned directly or indirectly by WDC (each, a “WDC Subsidiary”), on the other hand. WDC and all WDC
Subsidiaries are referred to collectively herein as “Western Digital.”

     WHEREAS, Moghadam has been employed as Senior Vice President, Chief Technology Officer of WDC;
and

     WHEREAS, Moghadam and Western Digital have mutually agreed to terminate Moghadam’s employment
relationship with Western Digital upon the terms set forth herein.

     NOW, THEREFORE, in consideration of the covenants undertaken and the releases contained in
this Agreement, Moghadam and Western Digital agree as follows:

     1. Separation. Moghadam’s position as Senior Vice President, Chief Technology
Officer, for Western Digital and as an employee of Western Digital, or in any other capacity for
Western Digital, is hereby terminated effective March 31, 2010 (“Separation Date”). Moghadam
acknowledges and agrees that he has received all amounts owed for his regular and usual salary
(including, but not limited to, any bonus, incentive compensation or other wages), and usual
benefits through the end of the pay period immediately preceding his execution of this Agreement,
or, if signed on or after the Separation Date, through the Separation Date. Except as otherwise
provided in this Agreement, all benefits of employment will cease as of the Separation Date.
Moghadam hereby acknowledges that he is not eligible for any severance benefits under any Western
Digital plan or policy, and that the only benefits he is entitled to after the Separation Date are
those specifically set forth in this Agreement.

     2. Consideration. In consideration for the covenants undertaken and releases given
herein by Moghadam, and provided that Moghadam (a) executes this Agreement, (b) is not in breach or
default of this Agreement, (c) does not revoke this Agreement during the 7 day revocation period
following his execution of this Agreement, and (d) performs all of his obligations under this
Agreement, Western Digital agrees to provide the following consideration (beyond that which
Moghadam is currently entitled to receive):

	 	i.	 	Separation Pay. Western Digital shall pay to Moghadam the sum of Eight
Hundred Twenty Thousand Dollars and No Cents ($820,000), less standard withholding and
authorized deductions, within thirty (30) days of the Separation Date.
	 
	 	ii.	 	COBRA. Provided Moghadam timely elects COBRA continuation of his
medical, dental and/or vision coverage existing as of the Separation Date,
Western Digital shall make the applicable COBRA premium payments on Moghadam’s
behalf until the earlier of (i) eighteen (18) months following the

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	 	 	 	Separation Date
or (ii) Moghadam’s becoming eligible for equivalent coverage under another
employer’s plan(s). Moghadam shall provide notice to Western Digital upon becoming
eligible for equivalent coverage under another employer’s plan(s).
	 
	 	iii.	 	ICP Payment. With respect to the ICP cycle ending July 2, 2010,
Western Digital shall pay to Moghadam a lump sum payment in the amount of Seventy-Six
Thousand Eight Hundred Seventy-Five Dollars and No Cents ($76,875), less standard
withholding and authorized deductions, which represents a pro-rata portion of
Moghadam’s target bonus opportunity under the ICP for the cycle ending July 2, 2010
(with such pro-rata portion based on the number of full months during the cycle prior
to the Separation Date and assuming achievement of the applicable performance goals at
100% of target, regardless of Western Digital’s actual achievement for the cycle). The
amount will be paid within thirty (30) days of the Separation Date. For avoidance of
doubt, Moghadam shall not be entitled to any other amount in respect of the ICP cycle
ending July 2, 2010.
	 
	 	iv.	 	Options. On the Separation Date, Moghadam’s then-outstanding stock
options will vest and become fully exercisable and shall continue to be exercisable at
any time during the three (3) year period following the Separation Date.
Notwithstanding anything to the contrary herein, the exercisability of Moghadam’s
outstanding stock options shall continue to be governed by the stock incentive plan and
stock option agreement applicable to such options.

     3. Release. Except for those obligations created by or arising out of this Agreement,
Moghadam, on his own behalf and behalf of his descendants, dependents, heirs, executors,
administrators, assigns and successors, and each of them, hereby acknowledges full and complete
satisfaction of and releases and discharges and covenants not to sue Western Digital, its
divisions, subsidiaries, parents, or affiliated partnerships and corporations, past and present,
and each of them, as well as its and their directors, officers, shareholders, partners,
representatives, attorneys, assignees, successors, agents and employees, past and present, and each
of them (individually and collectively, “Releasees”), from and with respect to any and all claims,
wages, agreements, obligations, demands and causes of action, known or unknown, suspected or
unsuspected (collectively, “Claims”), arising out of or in any way connected with Moghadam’s
employment with Western Digital or his separation from Western Digital, including, without limiting
the generality of the foregoing, any claim for severance pay, profit sharing, bonus or similar
benefit, sick leave, pension, retirement, vacation pay, life insurance, health or medical insurance
or any other fringe benefit, or disability, or any other Claims resulting from any act or omission
by or on the part of Releasees committed or omitted prior to the date of this Agreement, including,
without limiting the generality of the foregoing, any claim under Title VII of the Civil Rights Act
of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, the California Fair
Employment and Housing Act, the California Family Rights Act, or any other federal, state or local
law, regulation or ordinance. The foregoing release does not extend to (i) the obligations of
Western Digital referred to in Section 2 above, and (ii) Employee’s vested
rights, if any, under any stock option grant or restricted stock unit grant pursuant to the
terms of such grant agreements.

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     4. Waiver of Civil Code Section 1542. This Agreement is intended to be effective as a
general release of and bar to all Claims as stated above. Accordingly, Moghadam hereby expressly
waives any rights and benefits conferred by Section 1542 of the California Civil Code, which
provides:

“A GENERAL RELEASE DOES NOT EXTEND TO A CLAIM 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 SETTLEMENT WITH THE DEBTOR.”

Moghadam acknowledges that he later may discover Claims or facts in addition to or different from
those which Moghadam now knows or believes to exist with respect to the subject matter of this
Agreement and which, if known or suspected at the time of executing this Agreement, may have
materially affected its terms. Nevertheless, Moghadam hereby waives any Claims that might arise as
a result of such different or additional Claims or facts.

     5. ADEA Waiver. Moghadam expressly acknowledges and agrees that by entering into this
Agreement, he is waiving any and all rights or claims that he may have arising under the Age
Discrimination in Employment Act of 1967, as amended, which have arisen on or before the date of
execution of this Agreement. Moghadam further expressly acknowledges and agrees that:

	 	a.	 	In return for this Agreement, he will receive consideration beyond that which
he was already entitled to receive before entering into this Agreement;
	 
	 	b.	 	He is hereby advised in writing by this Agreement to consult with an attorney
before signing this Agreement;
	 
	 	c.	 	He was informed that he had twenty-one (21) days within which to consider the
Agreement; and
	 
	 	d.	 	He was informed that he has seven (7) days following the date of execution of
the Agreement in which to revoke the Agreement.

     6. Denial of Liability. This Agreement does not constitute an admission by Western
Digital of any violation of federal, state or local law, ordinance or regulation or of any
liability or wrongdoing whatsoever. Neither this Agreement nor anything in this Agreement shall be
construed to be or shall be admissible in any proceeding as evidence of liability or wrongdoing by
Western Digital. This Agreement may be introduced, however, in any proceeding to enforce the
Agreement. Such introduction shall be pursuant to an order protecting its confidentiality.

     7. Proprietary Information and Assignment. Moghadam acknowledges that by reason of
his position with Western Digital, he has been given access to confidential, proprietary
or private materials or information respecting Western Digital and its affairs. Moghadam
represents that he has held all such information confidential and will continue to do so, and that
he will not use such information for any purpose without the prior written consent of Western

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Digital. Notwithstanding anything to the contrary herein, at all times in the future, Moghadam
shall remain bound by the Employee Invention and Confidentiality Agreement he previously executed
(“Proprietary Information Agreement”).

     8. Warranty Regarding Non-Assignment. Moghadam warrants and represents that he has
not assigned or transferred to any person not a party to this Agreement any released matter or any
part or portion thereof and Moghadam shall defend, indemnify and hold harmless Western Digital from
and against any claim (including the payment of attorneys’ fees and costs actually incurred whether
or not litigation is commenced) based on or in connection with or arising out of any such
assignment or transfer made, purported or claimed.

     9. Termination of Relationship. Moghadam and Western Digital acknowledge that any
employment relationship between them terminates on March 31, 2010, and that they will have no
further employment or contractual relationship except as may arise out of this Agreement.

     10. Non-Disparagement. Moghadam agrees that he shall not (i) directly or indirectly,
make or ratify any statement, public or private, oral or written, to any person that disparages,
either professionally or personally, Western Digital, as well as its trustees, directors, officers,
members, managers, partners, agents, attorneys, insurers, employees, stockholders, representatives,
assigns and successors, past and present, and each of them, or (ii) make any statement or engage in
any conduct that has the purpose or effect of disrupting the business of Western Digital. Nothing
herein shall in any way prohibit Moghadam from disclosing such information as may be required by
law, or by judicial or administrative process or order or the rules of any securities exchange or
similar self-regulatory organization applicable to Moghadam.

     11. Soliciting Employees. Moghadam promises and agrees that he will not, for a period
of one (1) year following the Separation Date, directly or indirectly, solicit any employee of
Western Digital to work for any business, individual, partnership, firm or corporation.

     12. Litigation and Investigation Assistance. Moghadam agrees to cooperate in the
defense of Western Digital against any threatened or pending litigation or in any investigation or
proceeding by any governmental agency or body that relates to any events or actions which occurred
during or prior to the term of Moghadam’s employment with Western Digital. Furthermore, Moghadam
agrees to cooperate in the prosecution of any claims and lawsuits brought by Western Digital that
are currently outstanding or that may in the future be brought relating to matters which occurred
during or prior to the term of Moghadam’s employment with Western Digital. Except as requested by
Western Digital or as required by law, Moghadam shall not comment upon any (i) threatened or
pending claim or litigation (including investigations or arbitrations) involving Western Digital or
(ii) threatened or pending government investigation involving Western Digital. Western Digital
shall reimburse Moghadam for all reasonable out-of-pocket expenses incurred in providing assistance
pursuant to this provision.

     13. Severability. If any provision of this Agreement or its application is held
invalid, the invalidity shall not affect other provisions or applications of the Agreement which
can be given effect without the invalid provision or application and, therefore, the provisions of
this Agreement are declared to be severable.

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     14. Integration Clause. This instrument constitutes and contains the entire agreement
and understanding concerning Moghadam’s employment and the other matters addressed. The parties
intend it as a complete and exclusive statement of the terms of their agreement. It supersedes and
replaces all prior negotiations and agreements, proposed or otherwise, whether written or oral,
between the parties concerning the subject matters. This is a fully integrated document. This
Agreement may be modified only with a written instrument executed by both parties. Notwithstanding
the foregoing, the parties agree that the Proprietary Information Agreement shall remain in full
force and effect.

     15. Waiver. No waiver of any breach of any term or provision of this Agreement shall
be construed to be, or shall be, a waiver of any other breach of this Agreement. No waiver shall
be binding unless in writing and signed by the party waiving the breach.

     16. Counterparts. This Agreement may be executed in counterparts, and each
counterpart, when executed, shall have the efficacy of a signed original. Photographic and
facsimile copies of such signed counterparts may be used in lieu of the originals for any purpose.

     17. Headings. The section headings contained in this Agreement are inserted for
convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

     18. Choice of Law. This Agreement shall be deemed to have been executed and delivered
within the State of California, and the rights and obligations of the parties hereunder shall be
construed and enforced in accordance with, and governed by, the laws of the State of California
without regard to principles of conflict of laws.

     19. Advice of Counsel. In entering into this Agreement, the parties represent that
they have relied upon the advice of their attorneys, who are attorneys of their own choice, and
that the terms of this Agreement have been completely read and explained to them by their
attorneys, and that those terms are fully understood and voluntarily accepted by them.

     20. Supplementary Documents. All parties agree to cooperate fully and to execute any
and all supplementary documents and to take all additional actions that may be necessary to
appropriate to give full effect to the basic terms and intent of this Agreement and which are not
inconsistent with its terms.

     21. Construction. It is intended that the terms of this Agreement will not result in
the imposition of any tax liability pursuant to Section 409A of the Internal Revenue Code. This
Agreement shall be construed and interpreted consistent with that intent.

[Remainder of Page Intentionally Left Blank]

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     The undersigned have read and understand the consequences of this Agreement and voluntarily
sign it. The undersigned declare under penalty of perjury under the laws of the State of
California that the foregoing is true and correct.

EXECUTED this 31st day of March, 2010, at Orange County, California.

	 	 	 	 	 

	 	 	“Moghadam”
	 
	 	 	 	 
	 

	 	/s/ Hossein M. Moghadam
 

	 	 
	 

	 	Hossein M. Moghadam	 	 

EXECUTED this 31st day of March, 2010, at Orange County, California.

	 	 	 	 	 	 	 

	 	 	“WESTERN DIGITAL”	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Jackie DeMaria
 

Jackie DeMaria
	 	 
	 

	 	Title:
	 	Senior Vice President, Human Resources	 	 

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ACKNOWLEDGMENT AND WAIVER

     I, Moghadam, hereby acknowledge that I was given 21 days to consider the foregoing Agreement
and voluntarily chose to sign the Agreement prior to the expiration of the 21-day period.

     I declare under penalty of perjury under the laws of the State of California that the
foregoing is true and correct.

     EXECUTED this 31st day of March, 2010, at Orange County, California.

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ Hossein M. Moghadam
 	 
	 	Hossein M. Moghadam 	 
	 	 	 
	 

7exv10w1

Exhibit 10.1

[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES 

AND EXCHANGE
COMMISSION. ASTERISKS DENOTE OMISSIONS.]

AMENDED AND RESTATED

WRIGHT EXPRESS CORPORATION

SHORT-TERM INCENTIVE PROGRAM

ARTICLE 1- PURPOSE OF PROGRAM

Wright Express Corporation has adopted this Short-Term Incentive Program (“STIP”) to attract and
retain high-performing employees; to provide incentives for eligible employees to achieve specified
company, department and/or individual performance goals; and to reward such employees for the
achievement of specified goals on an annual basis. The Short-Term Incentive Program is intended to
qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code.

ARTICLE 2- DEFINITIONS

Wherever used in this document, the following terms have the meanings set forth below.

2.1 Appendix means an Appendix to this Program document containing targets, payment metrics,
and other terms of the Program (or modifications thereof) applicable to a specific Plan Year, First
Half-Year Period, or Second Half-Year Period. The Appendices shall be considered part of the
Program document.

2.2 Company means Wright Express Corporation or any legal entity that is controlled by, under
common control with, or that controls Wright Express Corporation.

2.3 Eligible Earnings means total gross pay for the applicable Plan Year, First Half-Year
Period, or Second Half-Year Period (or the portion thereof during which the Participant is actively
employed and eligible to participate in the STIP), including, salary or wages classified by the
Company as regular; paid time off (PTO), whether planned or unplanned; holiday; bereavement; jury
duty; retroactive pay; overtime pay; shift differential; language differential; and excluding,
salary or wages classified by the Company as disability pay, commission/incentive pay, and bonuses.
Under no circumstances shall the same earnings be applicable for a Plan Year and either a First
Half-Year Period or a second Half-Year Period covered by the Plan or included from a period in
which the employee was not a Participant in accordance with section 2.6.

2.4 Effective Date means January 1, 2010.

2.5 MBO means management by objectives — Key Business Drivers.

2.6 Participant means an eligible employee who participates in the Program for a Plan Year,

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[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES 

AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]

First Half-Year Period or Second Half-Year Period in accordance with Article 3.

2.7 Plan Year means the fiscal year of the Company; as of the Effective Date, the Plan Year is
the calendar year.

2.8 First Half-Year Period means the six-month period beginning on January 1st and
ending on June 30th of the Plan Year.

2.9 Second Half-Year Period means the six-month period beginning on July 1st and ending
on December 31st of the Plan Year.

2.10 Program means this Wright Express Corporation Short-Term Incentive Program, as amended
from time to time, including the provisions of any Appendix, which are incorporated herein.

ARTICLE 3- PARTICIPATION

3.1 Eligible Employees

Each full-time regular or part-time regular employee of the Company who meets the following
requirements shall be a Participant for a Plan Year:

     (a) The employee is not eligible for payout under a subsidiary bonus program, a
commission plan, or a high performance pay plan of the Company; and

     (b) The employee commences employment on or before November 1 of the applicable year;
and

     (c) The employee is generally considered a manager, director, vice president, senior
vice president, executive vice president, or chief executive officer within the Company’s
human resources information system; and

     (d) Except as provided in Section 3.2, the employee is actively employed on the bonus
payment date for the applicable year.

Each full-time or part time regular employee of the Company who meets the following requirements
shall be a Participant for a First Half-Year Period:

     (a) The employee is not eligible for payout under a subsidiary bonus program, a
commission plan, or a high performance pay plan of the Company; and

     (b) Except as provided in Section 3.2, the employee is actively employed on the bonus
payment date for the applicable half year; and

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[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE
COMMISSION. ASTERISKS DENOTE OMISSIONS.]

     (c) The employee is generally categorized as an individual contributor or a team leader
within the Company’s human resources information system; and

     (d) The employee commences employment on or before May 1 of the Plan Year.

Each full-time or part time regular employee of the Company who meets the following requirements
shall be a Participant for a Second Half-Year Period:

     (e) The employee is not eligible for payout under a subsidiary bonus program, a
commission plan, or a high performance pay plan of the Company; and

     (f) Except as provided in Section 3.2, the employee is actively employed on the bonus
payment date for the applicable half year; and

     (g) The employee is generally categorized as an individual contributor or a team leader
within the Company’s human resources information system; and

     (h) The employee commences employment on or before November 1 of the Plan Year.

3.2 Special Rules

     (a) A Participant who dies or becomes totally disabled during a Plan Year, First
Half-Year Period, or Second Half-Year Period (as determined under the Company’s Long-Term
Disability program) may receive a pro-rated bonus at target for the applicable year or
half-year based on his or her Eligible Earnings during the period of the Participant’s
active employment. Any bonus payable to a deceased Participant shall be paid to his or her
personal representative.

     (b) A Participant who is not actively employed on the bonus payment date for a Plan
Year, First Half-Year Period, or Second Half-Year Period due to an approved leave of absence
may receive a bonus for the applicable year or half-year based on his or her Eligible
Earnings during the period of the Participant’s active employment upon his or her return to
active employment by the Company.

     (c) A Participant who shall be the subject of a Performance Improvement Plan and
continues to be the subject of a Performance Improvement Plan at the time payments are made
under Section 5.1 of the Program shall not be eligible to receive a payment until
he or she has successfully met the requirements of the Performance Improvement Plan.

Page 3 of 10

 

[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE
COMMISSION. ASTERISKS DENOTE OMISSIONS.]

ARTICLE 4- INCENTIVES

The Corporate and Executive Officer MBOs for each Plan Year shall be approved by the Compensation
Committee of the Company’s Board of Directors, or its delegate.

An Individual Effectiveness Factor (“IEF”) shall be assigned to an employee classified as an
“associate” based on criteria established by the Company. The IEF for each associate shall be
initially established at 1.00. An associate’s IEF for a Plan Year or Second Half-Year Period may
be adjusted down, but not below 0.75, or up, but not above 1.25, by action of his or her supervisor
with the approval of his or her division Senior Vice President, or Executive Vice President as
applicable, and the Company’s Chairman and Chief Executive Officer. However, the foregoing
adjustments (in the aggregate) must not increase the total amount payable under the Program for the
given year or half-year. In this regard, neither the CEO nor any other executive officer is to be
considered as an “associate.”

The performance measures applicable to a Plan Year, First Half-Year Period, or Second Half-Year
Period shall be set out in the Appendix.

ARTICLE 5- PAYMENTS

5.1 Time and Form

Bonuses shall be calculated and paid in a single payment for the applicable year or half-year, by
no later than March 15 of the following year.

5.2 Position Changes

“Position changes” include promotions, demotions, and transfers between positions and/or
departments. All calculations shall be made based on each Participant’s applicable Eligible
Earnings and the Participant’s position and STIP percentage at the end of the applicable
performance period. If a position change results in a Participant moving from eligibility for
Full-Year participation to eligibility for Half-Year participation after the First Half-Year has
been measured and paid out, the Eligible Earnings for the entire year will be utilized in
calculating the Participant’s Second Half-Year payout.

5.3 Taxes

All federal, state or local taxes that the Program Administrator determines are required to be
withheld from any payments made under the Program shall be withheld.

ARTICLE 6- ADMINISTRATION

6.1 Program Administrator

The Program shall be administered by the Compensation Committee of the Company’s Board of

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[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]

Directors, which may delegate administrative responsibility in whole or in part to the Chairman and
Chief Executive Officer and/or the Senior Vice President, Human Resources (“Administrators”),
subject to any requirements for review and approval that may be established by the Compensation
Committee. In all areas not specifically reserved for such review and approval, the decisions of
the applicable Administrator shall be binding on the Company and each eligible employee under
Article 3. Notwithstanding the foregoing, the Compensation Committee may not modify MBOs or other
performance criteria during a Plan Year so as to increase the payment to a Section 162(m)
Participant (as defined below) or exercise its discretion to increase the amount of incentive pay
that would otherwise be due a Section 162(m) Participant upon attainment of a performance goal.

6.2 Claims

Claims regarding payments under the Program shall be directed to a Participant’s direct supervisor
and/or the Company’s Compensation Department. Any claim regarding the amount of any bonus payment
hereunder shall be made within 30 days of the date of such payment, or shall be forfeited.

ARTICLE 7- AMENDMENT AND TERMINATION

The Company reserves the right to terminate, amend, modify and/or restate this Program, in whole or
in part, at will at any time, with or without advance notice.

ARTICLE 8- MISCELLANEOUS

8.1 Payment Adjustments and Special Circumstances

The Compensation Committee shall have the authority to adjust payments under the Program (upward or
downward) at its discretion. Subject to the approval of the Compensation Committee, the Chairman
and Chief Executive Officer and the Senior Vice President, Human Resources, acting together, shall
have the power to adjust payments under the Program (upward or downward) as and to the extent
appropriate to achieve the stated goals and purposes of the Program and may approve exceptions to
the Program under special circumstances, to avoid undue hardship with respect to a Participant.
Notwithstanding the foregoing, neither the Compensation Committee, the Chairman and CEO, the Senior
Vice President, Human Resources, nor any other person may increase or accelerate the payment due to
any Section 162(m) Participant with respect to any Plan Year. The term “Section 162(m)
Participant” shall mean the Chairman and CEO and each of the four highest paid officers of the
Company (other than the President and CEO) on the last day of the taxable year, for purposes of the
executive compensation disclosure rules under the Securities Exchange Act of 1934.

Page 5 of 10

 

[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE
COMMISSION. ASTERISKS DENOTE OMISSIONS.]

8.2 Information

The Program Administrators shall be responsible for ensuring effective communication of the Program
to eligible employees. Copies of the Program shall be available to all Participants. All
modifications and changes to the Program shall be appropriately documented and communicated to
Participants.

8.3 No Guarantee of Payment

The Company does not guarantee payment of any bonus amounts hereunder, except to the extent that
payment is required by applicable law.

8.4 Limitation of Employees’ Rights

Nothing contained in the Program shall confer upon any person a right to be employed or to continue
in the employ of the Employer, or interfere in any way with the right of the Employer to terminate
the employment of a Participant at any time, with or without cause.

IN WITNESS WHEREOF, Wright Express Corporation has caused this document to be executed by its duly
authorized officer this 29th day of March, 2010.

	 	 	 	 	 
	WRIGHT EXPRESS CORPORATION

 	 
	By:  	/s/ Robert C. Cornett
 	 
	 	 	Robert C. Cornett 	 
	 	 	Its: Senior Vice President, Human Resources 	 
	 

     Date: 3/29/2010

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[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]

APPENDIX I

2010 STIP FACTORS 

STIP Weightings for Plan Year Calculations and Payout

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PPG1	 	 	 	 
	 	 	 	 	 	 	Adjusted	 	 	 	 
	 	 	Adjusted Net Income	 	 	Revenue2	 	 	MBOs	 
	CEO;

CFO, EVP of Fin & Ops;

SVP, Human Resources;

SVP, Client Services; EVP,

Sales & Marketing;

SVP, Corp Payment Sol; SVP,

Corp Development
	 	 	50	%	 	 	20	%	 	 	30	%
	SVP, IT & CIO
	 	 	50	%	 	 	30	%	 	 	20	%
	Vice Presidents (Non-Sales)
	 	 	50	%	 	 	20	%	 	 	30	%
	Vice Presidents (Sales)
	 	 	20	%	 	 	40	%	 	 	40	%
	Directors and Managers
	 	 	50	%	 	 	20	%	 	 	30	%
	Team Leaders and Associates
	 	 	80	%	 	 	20	%	 	 	 	 

 

			
	1 	 	PPG: Price Per Gallon
	 
	2 	 	PPG Adjusted Revenue is reported 2010 Revenue adjusted for the difference between
reported 2010 PPG and Board-approved budgeted 2010 PPG of $2.80.

Payout Levels

In 2010, the Company must achieve at least threshold results for Adjusted Net Income in order to
pay out any portion of the Short Term Incentive Program.

	 	 	 
	Performance Results	 	Payout %
	Threshold

	 	25%
	Threshold/Target
	 	50%
	Target
	 	100%
	Target/Max
	 	150%
	Max or above
	 	200%

Note: Payouts for all MBOs will be according to the above chart and will be interpolated between
the performance results levels whenever possible. If an MBO cannot be interpolated due to the
metrics used, payout level for that MBO will be at the highest performance result level fully
achieved.

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[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE
COMMISSION. ASTERISKS DENOTE OMISSIONS.]

APPENDIX II

MBOs

When establishing the performance goals for non-corporate MBOs, Threshold goals are generally set
at 90% probability of achievement, Target goals are generally set at 75% probability of
achievement, and Maximum goals are generally set at 25% probability of achievement.

Corporate MBOs:

	 	 	 	 	 	 	 
	 	 	Threshold	 	 	 	 
	Performance Goal	 	Performance	 	Target Performance	 	Maximum Performance
	Adjusted Net Income Full-Year1
	 	$ [**]
	 	$ [**]
	 	$ [**]
	PPG Adjusted Revenue Full-Year2
	 	$[**]
	 	$[**]
	 	$[**]
	Adjusted Net Income First Half-Year3
	 	$[**]
	 	$[**]
	 	N/A
	PPG Adjusted Revenue First Half-Year4
	 	$[**]
	 	$[**]
	 	N/A
	Adjusted Net Income Second Half-Year3
	 	Set by 8/31/10
	 	Set by 8/31/10
	 	Set by 8/31/10
	PPG Adjusted Revenue Second Half-Year5
	 	Set by 8/31/10
	 	Set by 8/31/10
	 	Set by 8/31/10

 

			
	1 	 	Adjusted Net Income Full Year means Adjusted Net Income as reported in the
Corporation’s Form 8-K filing reporting the Corporation’s results for 2010 and may be adjusted to
exclude the following items (if any): losses from discontinued operations, the cumulative effects
of changes in Generally Accepted Accounting Principles, any one-time charge or dilution resulting
from any acquisition or divestiture, the effect of changes to our effective federal or state tax
rates, extraordinary items of loss or expense, and any other unusual or nonrecurring items of loss
or expense, including restructuring charges. The Compensation Committee may exercise discretion to
include all or part of an item of loss or expense.
	 
	2 	 	PPG Adjusted Revenue is reported 2010 Revenue adjusted for the difference between
reported 2010 PPG and Board-approved budgeted 2010 PPG
	 
	3 	 	Adjusted Net Income First Half-Year means Adjusted Net Income as reported in the
Corporation’s Form 8-K filing reporting the Corporation’s results for the 1st and
2nd Quarters of 2010 Income Second Half-Year means Adjusted Net Income as reported in
the Corporation’s Form 8-K filing reporting the Corporation’s results for the 3rd and
4th Quarters of 2010 either, or both, may be adjusted to exclude the following items
(if any): losses from discontinued operations, the cumulative effects of changes in Generally
Accepted Accounting Principles, any one-time charge or dilution resulting from any acquisition or
divestiture, the effect of changes to our effective federal or state tax rates, extraordinary items
of loss or expense, and any other unusual or nonrecurring items of loss or expense, including
restructuring charges. The Compensation Committee may exercise discretion to include all or part
of an item of loss or expense.
	 
	4 	 	PPG Adjusted Revenue First Half-Year Period is reported 2010 Revenue adjusted for the
difference between reported 2010 PPG and Board-approved budgeted 2010 PPG for the 1st
and 2nd Quarters of 2010.
	 
	5 	 	PPG Adjusted Revenue Second Half-Year Period is reported 2010 Revenue adjusted for the
difference between reported 2010 PPG and Board-approved budgeted 2010 PPG for the 3rd
and 4th Quarters of 2010.

Page 8 of 10

 

[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]

Executive Officer Strategic MBOs: CEO, EVPs, and SVPs have the following strategic MBOs for 2010:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2010 Executive MBOs	 
	Executive	 	ANI	 	 	PPG Adjusted Revenue	 	 	MBO Weight	 	 	MBO	 	 	Threshold	 	 	Target	 	 	Max	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	10	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	Dubyak

Smith

Cornett
	 	 	50	%	 	 	20	%	 	 	10	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	Rapkin

Morin

Maxsimic

	 	 	 	 	 	 	 	 	 	 	10	%	 	 	[**]	 	 	$	[**]	 	 	$	[**]	 	 	$	[**]	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	10	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	 
	Stecklair
	 	 	50	%	 	 	20	%	 	 	10	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	10	%	 	 	[**]	 	 	$	[**]	 	 	$	[**]	 	 	$	[**]	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hogan
	 	 	50	%	 	 	30	%	 	 	20	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Strzegowski
	 	 	50	%	 	 	20	%	 	 	15	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	15	%	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 	 	 	[**]	 

Vice President MBOs: Each Vice President generally has 1-2 MBOs, which may include a targeted
strategic or operational MBO.

Manager MBOs: Each Manager or Director generally has 1-2 MBOs. Manager MBOs will generally mirror
the MBOs assigned to their VP, however, in some cases managers may be assigned a targeted strategic
or operational MBO.

STIP Weightings for First Half-Year Period Calculations and Payout

Page 9 of 10

 

[NOTE: CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE 

SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.]

	 	 	 	 	 
	 	 	Adj. Net Income	 	PPG Adj. Revenue
	Associates and Team Leaders
	 	80%	 	20%

Payout Levels for First Half-Year Period

In 2010, the Company must achieve at least threshold results for First Half-Year Period Adjusted
Net Income in order to pay out any portion of the First Half-Year Period of the Short Term
Incentive Program.

	 	 	 
	Performance Results	 	Payout %
	Threshold
	 	25%
	Threshold/Target
	 	50%
	Target
	 	100%
	Target/Max
	 	100%
	Max or above
	 	100%

Note: Payout levels of the corporate metric payout levels will be incrementalized.

Payout Levels for Second Half-Year Period

In 2010, the Company must achieve at least threshold results for Second Half-Year Period Adjusted
Net Income in order to pay out any portion of the Second Half-Year period Short Term Incentive
Program.

	 	 	 
	Performance Results	 	Payout %
	Threshold
	 	25%
	Threshold/Target
	 	50%
	Target
	 	100%
	Target/Max
	 	150%
	Max or above
	 	200%

Note: Payout levels of the corporate metric payout levels will be incrementalized.

Special Provision for Payout of First Half-Year Periods where Actual Performance Exceeds Target

In the case of a First Half-Year Period where the actual performance exceeds Target, payout will be
capped at Target. The Chairman, President, and Chief Executive Officer may exercise discretion to
modify First Half-Year Period and Second Half-Year Period payouts based on Company performance or
other factors.

Page 10 of 10

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