Document:

Employment letter dated December 18, 2006 to Matthew Levin

			
	

	  	 Exhibit 10.23
  
 December 18, 2006
  
 Dear Matt:
  
 This letter confirms the compensation
arrangements which Russ Fradin discussed with you on Monday, December 11, regarding a senior officer position with Hewitt Associates. We are delighted that you are considering this opportunity.
  
 The terms of the compensation arrangement include:
  
 •        An
annualized base salary of $400,000 on a regular, full-time, exempt basis with a performance and pay review in December of 2007, and annually thereafter assuming strong individual performance;
  
 •        An
annual bonus target equal to 60% of your actual base pay earning for the fiscal year which ends September 30, 2007. The bonus payout, which is paid in mid-December, is based on achievement of company and personal goals mutually agreed to and
consistent with those goals set for other senior officers. Actual payouts can range from 0% to 200% of your target bonus;
  
 •        An annual equity grant as defined under our Global Stock Plan consisting of
10,000 shares of performance-based Hewitt stock and 28,000 stock options. The payout of the performance-based shares will be based on the Company’s achievement of fiscal year 2007 earnings per share, operating income, and revenue goals as
established for other senior officers, and can range from 0% to 200% of the target grant amount. These shares would cliff vest 100% as of September 30, 2009. The stock options would be granted at an exercise price on or shortly following your
hire date and would vest 25% per year beginning on September 30, 2007 and annually thereafter for an additional 3 years;
  
 •        A one-time sign-on equity grant of 10,000 shares of time-based restricted
Hewitt stock. 50% of these shares would vest on the first anniversary of your hire date and 50% would vest on the second anniversary of your hire date;
  
 •        Participation in our employee comprehensive benefits program and Hewitt
Associates’ Financial Security Plans, including an annual company retirement contribution, and a company 401(k) match;

			
		  	 Mr. Matthew Levin
 Page 2
 December 18, 2006
  
 •        Participation in our Executive Benefits Program consisting of:

 
 •   27 days of annual paid time off
each calendar year;
  
 •   An
additional five-week vacation splash, or sabbatical, after five years of service with Hewitt, and every five years thereafter;
  
 •   A retirement restoration plan which provides for the company retirement contribution and company 401(k)
match above any qualified plan limits; and
  
 •   A voluntary deferral plan for base pay, annual incentive and/or restoration plan contributions.
  
 Matt, as a senior officer in the Company you would also be subject to stock ownership guidelines that require you to hold stock equal to 3.5x your base compensation. You
would have five (5) years in which to achieve those levels of stock ownership.
  
 This
offer is contingent upon Hewitt receiving completed and satisfactory background and reference checks which we will start immediately given the references you provided. A final offer letter will be provided as soon as possible upon completion of the
reference checking.
  
 If you have any questions or require any additional information,
please call me or Russ directly. Again, we are excited about the opportunity of you joining Hewitt Associates.
  
 Sincerely,
  
 Hewitt Associates LLC
  
 Steve King
  
 cc:    Mr. Russ Fradin, Hewitt Associates
          Mr. David Wille, Hewitt Associates
          Ms. Kristin Slavish, Hewitt Associates
  
 Accepted by: /s/ Matthew Levin
  
 Date:Employment letter dated October 10, 2007 to Steven J. Kyono

			
	

	  	 Exhibit 10.27
  
 October 10, 2007
  
 Private and Confidential
  
 Mr. Steven J.
Kyono
  
 Dear Steven:
  
 We are delighted to extend an offer to you to join Hewitt Associates as Senior Vice-President,
General Counsel and Secretary. This letter confirms the terms of our offer:
  
 •        An annualized base salary of $450,000 on a regular, full-time, exempt basis with a performance and pay review in December of 2008, and annually
thereafter;
  
 •        Eligibility to participate in our next fiscal year’s bonus plan, which begins on October 1 and ends September 30 of next year. Your bonus target will be 60% of your actual
fiscal year base pay earnings. Bonus awards are based on contributions and results through our fiscal year end and are typically paid by the end of December of the eligible plan year. You must be employed by Hewitt on the payout date to be eligible
to receive an award;
  
 •        A one-time sign-on equity grant of 10,000 Restricted Stock Units. These shares would vest 50% on September 30, 2009 and 50% on September 30, 2010. This grant would be
subject to you accepting this offer of employment and approval by the Board;
  
 •        An annual equity grant as defined under our Global Stock Plan consisting of 6,000 shares of fiscal 2008 performance-based Hewitt stock. The payout of the
performance-based shares will be based on the Company’s achievement of key financial goals which will be defined by the Board for the upcoming fiscal year. Metrics for the fiscal 2007 performance shares were earnings per share, operating
income, and revenue and final award amounts can range from 0% to 200% of the grant amount and vested three years from the award date. This grant would be subject to you accepting this offer of employment and approval by the Board of
Directors;
  
 •        An annual equity grant as defined under our Global Stock Plan consisting of 11,000 stock options. The stock options would vest 25% per year beginning on September 30, 2008 and
annually thereafter for an additional three years. This grant would be subject to you accepting this offer of employment and approval by the Board of Directors.
  
 •        Eligibility for our Executive Benefits Plan which currently consists of the
following:
  
 •   Twenty-seven days of vacation/personal time annually;

			
		  	 Mr. Steven J. Kyono
 Page 2
 September 24, 2007
  
 •   An additional five-week vacation splash after five years of service and every five years
thereafter;
  
 •   A
voluntary Deferral Plan for base pay and bonus pay; and
  
 •   A Defined Contribution Restoration Plan which provides for the company retirement contribution and company 401(k) match above any qualified limits.
  
 Participation is based on plan rules and start date at Hewitt. You will receive
an Executive Benefits brochure which provides details;
  
 •        Participation in Hewitt Associates' Financial Security Plans;
  
 •        Eligibility for coverage under our comprehensive benefits programs
described in the enclosed benefits booklet; and
  
 •        Participation in our Change-in-Control Executive Severance Program.
  
 •        Start date of October 15, 2007.
  
 •        Reimbursement for reasonable travel expenses from your home to Lincolnshire as outlined in our travel policy for 2 years from date of hire. After 2 years, this will be reviewed and
amended.
  
 •        Notwithstanding anything to the contrary contained in either this offer letter and/or any written policies of Hewitt Associates LLC, if your employment is terminated by Hewitt without
"Cause" (as hereinafter defined), at any time, Hewitt will be obligated to pay you the equivalent of one year's base compensation and the cash equivalent of the most recent annual bonus in a lump sum payment, less applicable federal, state and local
taxes, within thirty (30) business days from the official termination date. Hewitt will also provide 12 months of health and welfare benefits, post separation consistent with coverage levels at the separation date through subsidized COBRA. For
purposes hereof, "Cause" shall be defined as: manifest dishonesty, fraud, embezzlement or misappropriation relating to Hewitt, or any of its respective funds, property, opportunities or other assets; engaging in wilful misconduct (including but not
limited to discrimination or harassment or unethical or unprofessional conduct) injurious to Hewitt; conviction of or pleading guilty or no-contest to a crime involving moral turpitude or any crime providing for a term of imprisonment. This role

 positions you as a leader in the company and a member of the Hewitt Leadership Group

			
		  	 Mr. Steven J. Kyono
 Page 3
 September 24, 2007

		  	  
 (HLG). As a member of the HLG, you will be subject to
Hewitt's stock ownership guidelines and will be required to abide by Hewitt's non-compete agreement.
  
 Enclosed is a copy of Hewitt's Confidentiality Agreement for your review. Please call us if you have any questions about its meaning.
  
 This offer is contingent upon Hewitt receiving completed and satisfactory background and reference checks, including our review of an investigative consumer
report.
  
 We recognize that you retain the option, as does Hewitt, of ending your
employment with the company at any time, with or without notice and with or without cause. As such, your employment with Hewitt is at-will and neither this letter, nor any other oral or written representations may be considered a contract for any
specific period of time.
  
 Steven, we look forward to a positive response. If there is
any additional information you need to help you make your decision, please feel free to contact me.
  
 Sincerely,
  
 Hewitt Associates LLC
  
 Tracy Keogh
  
 TK:tmg
 Enclosures
  
 Accepted by: /s/ Steven J. Kyono
  
 Date: October 10, 2007Employment Offer Letter

 Exhibit 10.1 
 

 
 November 15, 2007 
 Mr
Massoud Safavi 
 8712 Old Dominion Dr 
 McLean, VA 22102

 Dear Max: 
 On behalf of EFJ, Inc., I am pleased to offer you
the position of Chief Operation Officer (COO), located in our Irving, Texas facility, reporting to the Chairman and CEO, subject to Board of Directors’ approval and the following conditions: 
  

			
	Effective Date:	  	November 15, 2007
	Salary:	  	Bi-weekly base salary of $12,500 (equivalent to $325,000 annual)
	Long Term Incentive:	  	100,000 RSUs – subject to SEC clause attached
	MIP:	  	(Management Incentive Program) Up to 80% of base salary
	Relocation:	  	Maximum of $200,000 (agreement attached)
	Vacation:	  	One hundred and sixty (160) hours per year
	Term:	  	At- will
	Termination:	  	Change in Control – Two (2) years salary – One (1) year benefits – see attached
		  	For other than Cause – One (1) year salary – One (1) year benefits – see attached
		  	Substantial Change – One (1) year salary – One (1) year benefits – see attached

 Fringe benefits under EFJI Employee Benefit Program are described in our Employee Handbook and the Employee
Benefit Summary. 
 Enclosed is our standard employment agreement which we ask you to sign upon acceptance of employment with our company. Please also sign
and return this letter and the enclosed documents at your earliest convenience. Please note that your employment will be on an at-will basis, meaning that either party may terminate the employment relationship at any time, for any reason, with or
without notice, subject to the terms contained in the employment agreement. 
 Max, feel free to call me anytime at (972) 819-0651 or
(214) 995-0099, if you have any questions, concerns, or need additional information on benefits. 
  

	
	 Sincerely,

	
	 /s/ Michael Gamble

	 Michael Gamble

	 Vice President, Administration

  

							
	ACCEPTED BY: /s/ Massoud
Safavi                                       
         	  	DATE:	 	November 15, 2007

  

			
	Enc.:	  	Employment Agreement and Exhibit 1
		  	Employee Benefit Summary
		  	Attachments noted above

 SEC compliant clause re employment offer to Massoud Safavi: 
 “It will be recommended, subject to the approval of our Board of Directors, that you receive 100,000 Restricted Share Units (RSU) under the provisions of the EFJ Inc
2005 Omnibus Incentive Compensation Plan. These units shall vest over four years with one-forth of the options vesting at the end of the first year and then yearly thereafter. The preceding statements regarding restricted share units do not
constitute a promise of compensation and are not intended to create any obligation on the part of the company.” 
 Change in
Control. 
 In the event of a “Change in Control” (defined herein) during Employee’s employment, and if Employee’s employment
terminates because of the Change in Control within one year following such change for reasons other than those set forth in the following section hereunder, or if substantial change in responsibility or compensation (as defined below) results within
one year following such change of control, Employee shall be entitled to (i) lump sum separation payment in an amount equal to two (2) years salary (based on the Employee’s then fixed monthly salary), (ii) an accelerated full and
immediate vesting of all outstanding long term incentive compensation vehicles, (iii) payment of a lump sum amount in lieu of medical benefits equal to the employee’s COBRA contribution for one (1) year’s benefits and
(iv) possible consideration of a transaction bonus if deemed appropriate by the Board of Directors. The foregoing payments are conditioned on Employee’s execution of a release agreement provided by the Company. “Change in
Control,” for purposes of this Agreement, is deemed to have occurred if 
 (i) there is a sale of all or substantially
all of the Company’s assets to a party other than a current shareholder of the Company; 
 (ii) there is a merger or
consolidation with another company or entity if persons who are not stockholders of the Company immediately prior to such merger or consolidation own, immediately after such merger or consolidation, 50% or more of the voting power of the outstanding
securities of each of the continuing or surviving entity, and any direct or indirect parent corporation of such continuing or surviving entity. 
 (iii) any person, corporation, partnership or other entity, becomes the owner of record of securities of the Company that represent fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities entitled to elect Directors. 
 Benefits in the event Company terminates Employee’s employment.
If the Company terminates Employee’s employment, and does so for a reason other than (i) commission of a crime involving moral turpitude, (ii) failure to perform material duties of his position, or (iii) material
breach of this Agreement, the following shall apply provided that employment termination under item (ii) above shall have been preceded by a written demand for substantial performance identifying the manner in which the company considers the
Employee has not substantially performed his material duties and has provided Employee with a reasonable period to cure the failure: 
  

	 	(i)	lump sum separation pay in an amount equal to one year’s salary (based on the Employee’s then fixed monthly salary) and a lump sum representing the value of medical
benefits equal the same premium rates paid by active employees of the company. 

  

	 	(ii)	such separation pay is conditional on Employee’s execution of a release agreement acceptable to both parties that is in keeping with reasonable and customary business practice.
Nothing contained in this or any other section of this Agreement modifies the at-will relationship of the parties. 

 Substantial Change In Responsibility or Compensation 
 Should Employee’s responsibilities or compensation be substantially changed (as defined hereunder), he will be entitled to elect to terminate his employment within
three (3) months following such change by indicating his intention in writing to the Chairman of the Board, providing three (3) months notice of termination. In the event Employee elects to terminate his employment pursuant to this section
and on condition he executes a release agreement provided by the Company, he shall be entitled to (i) a lump sum separation pay in an amount equal to one (1) year’s salary (based on Employee’s then fixed monthly salary),
(ii) a lump sum equivalent to the amount of the employee portion of the group insurance premium for one year and (iii) vesting of all LTI vehicles due to vest within one year of termination. For purposes of this agreement “substantial
change in responsibility or compensation” shall be defined as a change to new job duties with a corresponding reduction in duties and responsibilities which are not consistent with those normally associated with his existing job title, or a
reduction in salary other than a general salary reduction applied to other members of the executive group.

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