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Exhibit 10.1  

 
 

AGREEMENT    
    

        AGREEMENT dated September 20, 2006 between Charles Picasso
("Picasso"), and IHS Inc., a Delaware corporation formerly known as IHS Group Inc. (the
"Company"). 

        WHEREAS,
Picasso wishes to resign from employment with the Company and its affiliates. 

        WHEREAS,
the parties wish to set forth the rights and obligations of the parties in connection with Picasso's resignation to ensure an orderly transition for the business. 

        NOW,
THEREFORE, the parties agree as follows: 

        1.     Picasso
hereby resigns as President, CEO and director of the Company as of the date hereof. As of the date hereof, Picasso shall also cease to be an officer or director
of any affiliate of the Company. As used in this Agreement, the term "affiliate" shall mean any company that directly, or indirectly through one or more intermediaries, controls, is controlled by, or
is under common control with the Company. 

        2.     Picasso
shall continue his employment with the Company and continue to receive his current base salary through November 30, 2006 (the
"Effective Termination Date"), notwithstanding his resignation as President and CEO as of the date hereof. As of the Effective Termination Date, Picasso
shall cease to be an employee of the Company. 

        3.     Picasso
shall be entitled to receive an annual bonus payment for the fiscal year ended November 30, 2006 pursuant to the IHS Annual Incentive Plan. In connection
therewith, the personal objectives portion of Picasso's annual bonus shall be deemed achieved at the maximum performance level. 

        4.     Picasso
has received grants of 578,333 shares of Class A common stock of IHS Inc. ("Shares") pursuant to
award agreements (the "Equity Awards"). Immediately prior to the date hereof, 52,777 of such Shares were vested, and 525,556 of such Shares were
unvested. Picasso will vest in 250,000 of such unvested Shares on the date hereof. The remaining 275,556 unvested Shares will be forfeited on the date hereof. The Company shall withhold from the
250,000 Shares that otherwise would be released to him when they vest on the date hereof to satisfy any withholding taxes that may be due as a result of the vesting of such Shares. 

        5.     As
of the Effective Termination Date, Picasso will be credited with 2 additional years for the purposes of the age and service requirements of the IHS Retirement Income
Plan and the IHS Supplemental Income Plan. Picasso's pension under the IHS Retirement Income Plan and his pension under the IHS Supplemental Income Plan will be payable in a total lump sum (Qualified
and Non-Qualified) in an amount of approximately $2,389,107. 

        6.     From
December 1, 2006 through May 31, 2008, Picasso shall make himself reasonably available to perform consulting services on behalf of the Company. Such
consulting services shall be related to such matters as the President and Chief Executive Officer or Board of Directors of the Company may designate from time to time. Picasso shall be paid for such
consulting services an amount equal to $870,000 payable in equal monthly installments of $48,333.33 on the last day of each month during such period, subject to paragraph 9 below. 

        7.     Picasso
and his eligible dependents will be eligible to continue to participate in the Company's medical, dental and vision plans on terms similar to his current
participation (or, if he is ineligible to continue to participate under the terms thereof, in substitute arrangements adopted by the Company providing substantially comparable benefits) from
December 1, 2006 through May 31, 2008. Picasso will not participate in any annual bonus or other incentive plans after the Effective Termination Date, and his membership in the Cherry
Creek Country Club shall revert back to the Company as of the Effective Termination Date. 

 

        8.     Picasso
will be paid the sum of $50,000 in lieu of outplacement services that would otherwise have been provided during the six-month period following the
Effective Termination Date. 

        9.     Notwithstanding
anything in this Agreement to the contrary, in accordance with Section 409A of the Internal Revenue Code ("Section 409A"), the annual bonus
payment provided in paragraph 3 above, the non-qualified portion of the pension benefit provided in paragraph 5 above (approximately $2,236,666.53) and the $50,000 payment
provided in paragraph 8, above shall each be paid on June 1, 2007 (6 months from the Effective Termination Date). In addition, payment for consulting services pursuant to
paragraph 6 above shall be deferred for six months, and payment for the first six months of such services ($289,999.98) shall be paid in a lump sum on June 1, 2007.
Notwithstanding anything in this Agreement to the contrary, to the extent that Picasso and the Company in good faith determine that any other payments or benefits provided for in this Agreement
constitute "deferral of compensation" under Section 409A, then no such amount shall be payable to Picasso prior to the earliest date permitted by Section 409A and the regulations
thereunder. 

        10.   Section 10
(Covenants) of the letter agreement between Picasso and the Company dated October 15, 2004 (the
"Employment Agreement") is hereby incorporated by reference. Picasso acknowledges that the obligations contained in Section 10 of the Employment
Agreement survive the termination of Picasso's employment with the Company for the periods set forth therein and will be fully enforceable thereafter. 

        11.   Following
date hereof, Picasso agrees not to make any disparaging remarks or comments with respect to the Company and its affiliates, and their respective directors,
officers and employees, and the Company agrees that its directors and senior executives will not make any disparaging remarks or comments with respect to Picasso. The Company will make any press
release about Picasso's separation of employment with the Company available in advance of release for Picasso's review and will consider any comments from Picasso with respect to the release. 

        12.   

        (a)   In
consideration for the payments described in this Agreement, Picasso for himself and his heirs, executors, administrators and assigns, does hereby knowingly and
voluntarily release and forever discharge the Company and its respective predecessors, successors and affiliates and current and former directors, officers and employees from any and all claims,
actions and causes of action related to or arising from his employment or separation from employment with the Company, including, but not limited to, under federal, state and local laws, such as
applicable laws of any jurisdiction prohibiting employment discrimination based on age, sex, race, color, national origin, religion, disability, veteran or marital status, sexual orientation or any
other protected trait or characteristic, or retaliation for engaging in any protected activity, including without limitation, the Age Discrimination in Employment Act of 1967, 29 U.S.C. §
621 et seq., as amended by the Older Workers Benefit Protection Act, P.L. 101-433, the Equal Pay Act of 1963, 9 U.S.C. § 206,  et seq., Title VII
of The Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e et
seq., the Civil Rights Act of 1866, 42 U.S.C. § 1981, the Civil Rights Act of 1991, 42 U.S.C. § 1981a, the Americans with Disabilities Act, 42 U.S.C.
§ 12101, et seq., the Rehabilitation Act of 1973, 29 U.S.C. § 791 et seq., the
Family and Medical Leave Act of 1993, 28 U.S.C. §§ 2601 and 2611 et seq., whether KNOWN OR UNKNOWN, fixed or contingent, which
he ever had, now has, or may have, or which his heirs, executors, administrators or assigns hereafter can, will or may have from the beginning of time through the date on which he signs this full and
complete release (collectively the "Released Claims"). 

        (b)   Picasso
fully understands and agrees that: 

        (i)    The
release under Section 12(a), above, is in exchange for payments to which he would otherwise not be entitled; 

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        (ii)   no
rights or claims are released or waived that may arise after the date this Agreement is signed by him or any claims for breach of this Agreement by the Company; 

        (iii)  he
is hereby advised to consult with an attorney before signing this Agreement; 

        (iv)  had
he wished to do so, he could have taken up to 21 days or more to consider this Agreement, he has read this Agreement and understands its terms and
significance, and he executes such Agreement voluntarily and with full knowledge of its effect, having carefully read and considered all terms of the Agreement and, if he has chosen to consult with an
attorney, having had all terms and their significance fully explained to him by his attorney; 

        (v)   he
has seven days following his signature of this Agreement to revoke the Agreement; and 

        (vi)  this
Agreement will not become effective or enforceable until the revocation period of seven days has expired. 

        (c)   Picasso
warrants and represents that he has made no sale, assignment or other transfer, or attempted sale, assignment or other transfer, of any of the Released Claims. 

        (d)   For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company on behalf of itself and its respective predecessors,
successors and affiliates and current and former directors and officers, does hereby knowingly and voluntarily release and forever discharge Picasso and his heirs, executors, administrators and
assigns from any and all claims, actions and causes of action related to or arising from his employment or separation from employment with the Company; provided, however, no rights or claims are
released or waived that may arise after this Agreement is signed by the Company or any claims for breach of this Agreement by Picasso. 

        13.   If
Picasso chooses to revoke this Agreement, he must do so by notifying the Company in writing. This written notice of revocation must be mailed by U.S. first class mail
or by U.S. certified mail within the seven day revocation period and be addressed as follows: 

IHS Inc.

15 Inverness Way

East Englewood, CO 80112

Attention: Senior Vice President, Human Resources 

        14.   This
Agreement, the IHS Retirement Income Plan and the IHS Supplemental Income Plan constitute the complete understanding between Picasso and the Company in respect of
the subject matter of this Agreement and supersede all prior agreements relating to the same subject matter. Without limiting the generality of the foregoing, the Employment Agreement is terminated
effective as of the date hereof and neither party shall have any rights or obligations under such agreements; provided, however, that Section 10
of the Employment Agreement shall survive the termination of the Employment Agreement, as indicated above. Picasso has not relied upon any representations, promises or agreements of any kind except
those set forth herein in signing this Agreement. 

        15.   In
the event that any provision of this Agreement should be held to be invalid or unenforceable, each and all of the other provisions of this Agreement will remain in
full force and effect. If any provision of this Agreement is found to be invalid or unenforceable, such provision will be modified as necessary to permit this Agreement to be upheld and enforced to
the maximum extent permitted by law. 

        16.   This
Agreement is to be governed and enforced under the laws of the State of Colorado (except to the extent that Colorado conflicts of law rules would call for the
application of the law of another jurisdiction). 

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        17.   This
Agreement inures to the benefit of the Company and its successors and assigns. 

        18.   Picasso
has carefully read this Agreement, fully understands each of its terms and conditions, and intends to abide by this Agreement in every respect. As such, Picasso
knowingly and voluntarily signs this Agreement. 

        19.   All
payments to be made hereunder by the Company shall be subject to any applicable payroll, income, withholding and other taxes or other applicable deductions required
by law or regulation. 

        20.   By
signing this Agreement, Picasso agrees (i) that he is not relying on the Company or any affiliate for any tax advice and (ii) that he will hold the
Company and its affiliates harmless from any and all liabilities imposed on the Company or its affiliates relating to his income tax obligations in connection with any compensation amounts under this
Agreement or prior to the date hereof. 

        21.   Anything
in this Agreement to the contrary notwithstanding, this Agreement is subject to and conditioned upon approval by the Board of Directors of the Company and will
not become effective or enforceable unless and until such approval is granted. 

        IN WITNESS WHEREOF, Picasso and the Company have executed this Agreement as of the day and year first above written. 

	

 	
 	

/s/  CHARLES PICASSO      
 Charles Picasso
	

 	
 	

IHS INC.
	

 	
 	

/s/  JERRE STEAD      

	 	 	By:	 	Jerre Stead
	 	 	Title:	 	Chairman

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AGREEMENT<Page>

                                                                   Exhibit 10.15

                                   PICIS, INC.
                   2006 SENIOR EXECUTIVE INCENTIVE BONUS PLAN

1.   PURPOSE

     This Senior Executive Incentive Bonus Plan (the "Incentive Plan") is
intended to provide an incentive for superior work and to motivate eligible
executives of Picis, Inc. (the "Company") and its subsidiaries toward even
higher achievement and business results, to tie their goals and interests to
those of the Company and its stockholders and to enable the Company to attract
and retain highly qualified executives. The Incentive Plan is for the benefit of
Covered Executives (as defined below).

2.   COVERED EXECUTIVES

     From time to time, the Compensation Committee of the Board of Directors of
the Company (the "Compensation Committee") may select certain key executives
(the "Covered Executives") to be eligible to receive bonuses hereunder.

3.   ADMINISTRATION

     The Compensation Committee shall have the sole discretion and authority to
administer and interpret the Incentive Plan.

4.   BONUS DETERMINATIONS

     (a) A Covered Executive may receive a bonus payment under the Incentive
Plan based upon the attainment of performance targets which are established by
the Compensation Committee and relate to financial and operational metrics with
respect to the Company or any of its subsidiaries (the "Performance Goals"), as
set forth in EXHIBITS "A-1" AND "A-2" attached hereto. The maximum target bonus
opportunity for a Covered Executive is set forth on EXHIBIT "A-3" attached
hereto (subject to increase for any Stretch Bonus Amount described in Section
4(c) below).

     (b) Except as otherwise set forth in this Section 4(b): (i) any bonuses
paid to Covered Executives under the Incentive Plan shall be based upon
objectively determinable bonus formulas that tie such bonuses to one or more
performance targets relating to the Performance Goals, (ii) bonus formulas for
Covered Executives shall be adopted in each performance period by the
Compensation Committee and (iii) no bonuses shall be paid to Covered Executives
unless and until the Compensation Committee makes a determination with respect
to the attainment of the performance objectives. Notwithstanding the foregoing,
the Company may pay bonuses (including, without limitation, discretionary
bonuses) to Covered Executives under the Incentive Plan based upon such other
terms and conditions as the Compensation Committee may in its discretion
determine.

<Page>

     (c) Each Covered Executive shall have a targeted bonus opportunity for each
performance period. The maximum bonus payable to a Covered Executive under the
Plan is 125% of the Covered Executive's bonus opportunity, the "Stretch Bonus
Amount," as described in Exhibit "A-2" attached hereto.

     (d) The payment of a bonus to a Covered Executive with respect to a
performance period shall be conditioned upon the Covered Executive's employment
by the Company on the last day of the performance period; provided, however,
that the Compensation Committee may make exceptions to this requirement, in its
sole discretion, including, without limitation, in the case of a Covered
Executive's termination of employment, retirement, death or disability.

5.   TIMING OF PAYMENT

     The Performance Goals will be measured at the end of each fiscal year after
the Company's financial reports have been published. If the Performance Goals
are met, payments will be made within 30 days thereafter, but not later than
March 15.

6.   EMPLOYMENT REQUIREMENT

     A participant must be employed by the Company on December 31st of each year
to be entitled to any bonus payment for that year.

7.   AMENDMENT AND TERMINATION

     The Company reserves the right to amend or terminate the Incentive Plan at
any time in its sole discretion.

                                       2

<Page>

                                  EXHIBIT "A-1"

                                PERFORMANCE GOALS

     ANNUAL REVENUE GOAL: [REDACTED]% of bonus opportunity will be earned if
the Company achieves [REDACTED] revenue growth from previous fiscal year.

     EBITDA GOAL: [REDACTED]% of bonus opportunity will be earned if the
Company meets its EBITDA (earnings before interest, taxes, depreciation, and
amortization) target according to the board-approved plan for the year.

     CUSTOMER SATISFACTION: [REDACTED]% of bonus opportunity will be earned
based on customer satisfaction to be determined by an ongoing Picis customer
survey.

                                       3

<Page>

                                  EXHIBIT "A-2"

                            STRETCH PERFORMANCE GOALS

     IF ALL THE CRITERIA FOR THE SENIOR EXECUTIVE BONUS PLAN AS DESCRIBED IN A-1
ABOVE ARE MET THEN THE EMPLOYEE WILL BE ELIGIBLE FOR ADDITIONAL BONUS ACCORDING
TO THE FOLLOWING STRETCH GOALS:

     ANNUAL REVENUE GOAL: If the Company achieves revenue growth above
[REDACTED] year then the Annual Revenue Goal bonus will be adjusted to
reflect the prorated growth from [REDACTED] as equivalent to an additional
[REDACTED] of the Annual Revenue Growth bonus.

     EBITDA GOAL: If the Company achieves an additional amount of from
[REDACTED] of its annual EBITDA plan, (earnings before interest and taxes,
depreciation and amortization), A Covered Executive shall be eligible to
receive up to an additional 25% of the EBITDA Goal bonus opportunity, such
amount to be pro-rated based upon the Stretch Performance Goal percentages
that are achieved.

     CUSTOMER SATISFACTION: If the Company achieves an additional amount of
from [REDACTED] of its customer satisfaction plan as determined by a Picis
customer survey, A Covered Executive shall be eligible to receive up to an
additional 25% of the Customer Satisfaction bonus opportunity, such amount to
be pro-rated based upon the Stretch Performance Goal percentages that are
achieved.

                                       4

<Page>

                                  EXHIBIT "A-3"

                       FISCAL 2006 TARGET BONUS OPPORTUNITY

<Table>
<Caption>

POSITION                                                    BONUS PERCENTAGE(1)
--------                                                    -------------------
<S>                                                         <C>

CHIEF EXECUTIVE OFFICER                                            50%

PRESIDENT, EMERGENCY CARE DIVISION                                 40%
EXECUTIVE VICE PRESIDENT, GLOBAL SALES                             40%

CHIEF OPERATING OFFICER                                            33.34%(2)
CHIEF FINANCIAL OFFICER                                            34.78%(3)

CHIEF LEGAL OFFICER                                                30%
EXECUTIVE VICE PRESIDENT & CHIEF MARKETING OFFICER                 30%
EXECUTIVE VICE PRESIDENT SUPPORT OPERATIONS                        30%
EXECUTIVE VICE PRESIDENT RESEARCH & DEVELOPMENT                    30%
EXECUTIVE VICE PRESIDENT AND CHIEF INFORMATION OFFICER             30%
OTHER C-LEVEL OR EXECUTIVE VICE PRESIDENT-LEVEL POSITIONS          30%

EXECUTIVE MEDICAL DIRECTOR                                         20%
VICE PRESIDENT, HUMAN RESOURCES                                    20%
VICE PRESIDENT, BUSINESS TRANSFORMATION                            20%
OTHER VICE PRESIDENT-LEVEL POSITIONS                               20%

PRESIDENT, PERIOPERATIVE CARE DIVISION                             N/A(4)
</Table>
----------

1.   PRESENTED AS A PERCENTAGE OF THE COVERED EXECUTIVE'S BASE SALARY.
2.   ACTUAL BONUS OPPORTUNITY FOR 2006 IS $100,000.
3.   ACTUAL BONUS OPPORTUNITY FOR 2006 IS $80,000.
4.   THIS POSITION IS PAID A COMMISSION BASED ON ACHIEVEMENT OF BOOKINGS
     TARGETS. THE MAXIMUM PAYOUT IS $60K/YEAR.

                                       5

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