Document:

exv10w1

 

Exhibit 10.1

CONFIDENTIAL 

SEPARATION AGREEMENT

          THIS SEPARATION AGREEMENT (this “Agreement”) is made and entered into by and between Betty A.
Goff, a resident of Minnesota (“Executive”), and River Hills Wilsons, Inc., a Minnesota corporation
(the “Company”).

BACKGROUND

     A. Executive was employed by the Company, most recently as its Vice President, Human
Resources.

     B. Executive’s employment with the Company has ended effective February 28, 2007 (the
“Separation Date”).

     C. Executive and Wilsons The Leather Experts Inc. are parties to a Stay Bonus Agreement, dated
as of January 30, 2007 (the “Stay Bonus Agreement”), which provides, among other things, for
certain benefits if Executive’s employment is terminated by the Company without cause prior to July
6, 2007.

     D. The parties desire to resolve all issues now between them and have agreed to a full
settlement of such issues, as set forth in this Agreement.

          NOW THEREFORE, in consideration of the mutual promises and provisions contained in this
Agreement and the Release referred to below, the parties, intending to be legally bound, agree as
follows:

AGREEMENTS

     1. Final Pay/Benefits Continuation. Executive confirms that she has been paid in
full for her base salary, compensation, benefits and any accrued and unused vacation time owing to
her through the Separation Date, except as specifically set forth in this Agreement. The Company
will pay to Executive as soon as administratively feasible following July 6, 2007 the retention
bonus provided for in the Stay Bonus Agreement, in the amount of

 

 

CONFIDENTIAL 

$75,000. Executive will have the right to continue her group health, dental and/or vision
insurance coverage after the Separation Date under such terms as are made available to
similarly-situated former employees of the Company, pursuant to the terms of the applicable plan
documents and laws regarding continuation coverage. Except as provided in subparagraph 4.b. of
this Agreement, such continuation coverage shall be at Executive’s own expense. To the extent that
Executive is currently a participant in any retirement, pension, or profit sharing plans of the
Company, Executive will be entitled to her rights and benefits under these plans at the times and
under the terms and conditions set forth in any such plan.

     2. Expense Reimbursement. The Company will reimburse Executive for her regular and
necessary business expenses incurred through the Separation Date in accordance with the Company’s
regular policies and practices. Executive will submit all requests for reimbursement to the
Company no later than March 16, 2007.

     3. Release by Executive. At the same time that Executive executes this Agreement, she
shall execute a Release in the form attached to this Agreement as Exhibit A (the “Release”). This
Agreement will not be interpreted or construed to limit the Release in any manner.

     4. Severance Arrangements. The Company will make the severance payments and other
consideration set forth in subparagraphs 4.a., 4.b. and 4.c. below in lieu of any further payments
or compensation that Executive would otherwise be entitled to receive under any agreement with the
Company or any Affiliate (as defined in paragraph 6 below) or as an employee or officer of the
Company or any Affiliate. The Company will make such payments and provide such consideration only
if (i) Executive has signed this Agreement and the Release and has not rescinded this Agreement or
the Release within the rescission period set forth in paragraph 22 below (the “Rescission Period”),
(ii) the Company has received

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written confirmation from Executive, dated not earlier than the day after the expiration of
the Rescission Period, that Executive has not rescinded and will not rescind this Agreement or the
Release, and (iii) Executive has not breached her obligations pursuant to this Agreement or the
Release.

          a. Salary Continuation. The Company shall pay Executive as salary continuation an
amount equal to Executive’s base salary as of the Separation Date for a period of up to fifty-six
(56) weeks. Payment will be made in accordance with the Company’s regular payroll schedule for the
period commencing after expiration of the Rescission Period and continuing for fifty-six (56) weeks
thereafter. If during the period commencing on the Separation Date and ending on March 27, 2008,
Executive obtains other employment with any other employer working on average 30 hours or more per
week, the Company shall deduct from any salary continuation payable under this subparagraph 4.a.
all amounts earned by Executive as a result of such employment. If during such period Executive
engages in temporary or part-time employment working on average less than 30 hours per week and/or
in self-employment, then the Company shall deduct from any salary continuation payable under this
subparagraph 4.a. gross earnings by Executive from such temporary or part-time employment and
self-employment to the extent that such gross earnings exceed $10,000 per month.

          b. Health Insurance. If Executive elects to continue her group health, dental and/or
vision insurance under the terms of paragraph 1 above and the terms of the applicable plans,
Executive shall complete all paperwork necessary to carry out such election effective March 1,
2007, as specified by the Company or its agents in accordance with the applicable plans. Upon such
election by Executive, the Company shall pay on Executive’s behalf a portion of the cost of the
premiums that she is required to pay to maintain such

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CONFIDENTIAL 

continuation coverage for a period of up to twelve (12) months following the Separation Date, or,
if earlier, until such continuation coverage ceases in accordance with the terms and conditions of
the applicable plans and laws. The premium portion to be paid by the Company shall be equal to the
portion of the health, dental and/or vision insurance premiums that would be paid by the Company if
Executive were an employee of the Company, at the same level of coverage that was in effect on the
Separation Date. The Company shall deduct Executive’s portion of such premiums from payments to
Executive pursuant to subparagraph 4.a., provided, however, if payments owed to Executive pursuant
to subparagraph 4.a. are not sufficient to cover Executive’s portion of the premiums, Executive
shall pay such portion to the Company in accordance with the requirements of continuation coverage.

          c. Outplacement. The Company will provide to Executive executive-level outplacement
assistance services for up to 12 months through a provider designated by the Company. Such
outplacement services shall include office space and administrative support. Executive will not be
paid cash in lieu of outplacement services.

          d. Disclosure. Executive shall promptly and fully disclose to the Company in writing
(i) the nature and amount of any gross income earned by Executive from employment with any other
employer or self-employment following the Separation Date and continuing until the first
anniversary of the Separation Date, and (ii) whether she has become eligible for group health,
dental and/or vision insurance coverage from any other employer. The Company shall have no
obligation to make any payment pursuant to subparagraph 4.a. above unless and until Executive, on
or about the fifteenth day of each month, submits to the Company a signed statement detailing her
earnings (or lack thereof) for the prior 30 days. At the Company’s request, Executive will provide
the Company with documentation of such earnings, including without limitation form W-2s and form
1099s, and any other information

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CONFIDENTIAL 

reasonably requested by the Company relating to any services being performed by Executive during
the period she is receiving salary continuation. Executive shall repay any amounts to the Company
that should have been so mitigated or reduced but for Executive’s delay, failure, or unwillingness
to make such disclosures.

     5. Equity.

          a. Stock Options. Executive acknowledges and agrees that the options listed in this
paragraph below are Executive’s only options to purchase shares of the common stock of the
Company’s parent, Wilsons The Leather Experts Inc., and that such options are exercisable only to
the extent reflected in the “Amount Exercisable” column below. Executive further agrees and
acknowledges that all of the options to purchase common stock of Wilsons The Leather Experts Inc.
will expire and cease to be outstanding in accordance with the terms of the applicable Stock Option
Agreements and plan.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Date of	 	 	Exercise	 	 	Number of	 	 	Amount	 
	     Plan	 	Grant	 	 	Price	 	 	Shares	 	 	Exercisable	 
	1996 Plan
	 	 	01/28/98	 	 	$	5.833	 	 	 	21,000	 	 	 	21,000	 
	2000 Plan
	 	 	08/24/00	 	 	 	20.6875	 	 	 	5,400	 	 	 	5,400	 
	2000 Plan
	 	 	03/29/01	 	 	 	18.9375	 	 	 	4,200	 	 	 	4,200	 
	2000 Plan
	 	 	03/19/03	 	 	 	4.00	 	 	 	12,000	 	 	 	12,000	 
	1996 Plan
	 	 	03/17/04	 	 	 	2.90	 	 	 	12,000	 	 	 	12,000	 
	2000 Plan
	 	 	06/02/05	 	 	 	5.88	 	 	 	90,000	 	 	 	30,000	 

          b. Restricted Stock. The Company and Executive acknowledge and agree that all
restricted stock awards granted to Executive during her employment with the Company are fully
vested.

     6. Confidential Information and Restrictive Covenants.

          a. Confidential Information. Except as authorized in writing by an officer of the
Company, Executive shall not at any time divulge, furnish or make accessible

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to anyone or use in any way other than in the ordinary course of the business of the Company,
any confidential, proprietary or secret knowledge or information of the Company or any of its
Affiliates that Executive has acquired or will acquire about the Company or any of its Affiliates,
whether developed by herself or by others, concerning (i) any trade secrets, (ii) any confidential,
proprietary or secret designs, processes, formulae, plans, devices or material (whether or not
patented or patentable) directly or indirectly useful in any aspect of the business of the Company
or any of its Affiliates, (iii) any customer or supplier lists, (iv) any confidential, proprietary
or secret development or research work, (v) any strategic or other business, marketing or sales
plans, (vi) any financial data or plans, (vii) any non-public information regarding Company
employees, compensation, stock ownership or benefits, or (viii) any other confidential or
proprietary information or secret aspects of the business of the Company or any of its Affiliates.
Executive acknowledges that the above-described knowledge and information constitutes a unique and
valuable asset of the Company and its Affiliates and represents a substantial investment of time
and expense by the Company and its Affiliates, and that any disclosure or other use of such
knowledge or information other than for the sole benefit of the Company and its Affiliates would be
wrongful and would cause irreparable harm to the Company. Executive will refrain from any acts or
omissions that would reduce the value of such knowledge or information to the Company. The
foregoing obligations of confidentiality shall not apply to any knowledge or information that (i)
is now or subsequently becomes generally publicly known in the form in which it was obtained from
the Company or any of its Affiliates, other than as a direct or indirect result of the breach of
this Agreement by Executive, (ii) is independently made available to Executive in good faith by a
third party who has not violated a confidential relationship with the Company or any of its
Affiliates, or (iii) is required to be disclosed by law or legal process.

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Executive understands and agrees that her obligations under this Agreement to maintain the
confidentiality of the confidential information are in addition to any obligations of Executive
under applicable statutory or common law. For purposes of this Agreement, “Affiliate” shall mean
any entity related to the Company in the present or past, including without limitation its
predecessors, parent (Wilsons The Leather Experts Inc.), subsidiaries, joint venture partners, and
any entities under common control with the Company, and any successors of any of them.

          b. Agreement Not to Compete. For a period of twelve (12) consecutive months after the
Separation Date, Executive will not, without the express written authorization of an officer of the
Company, directly or indirectly, in North America, (i) provide services for or hold any interest in
(including without limitation as a proprietor, owner, principal, agent, partner, officer, director,
stockholder, employee, member, consultant or otherwise) any person or entity primarily engaged in
or planning to enter into the business of manufacturing, designing, marketing, distributing, or
selling leather outerwear, apparel, or accessories; or (ii) provide any services relating to the
manufacturing, designing, marketing, distributing, or selling of leather outerwear, apparel or
accessories for any person or entity, including but not limited to any business in which he is a
proprietor, owner, principal, partner, stockholder or member. Ownership by Executive, as a passive
investment, of less than 1.0% of the outstanding shares of capital stock of any corporation listed
on a national securities exchange or publicly traded on NASDAQ will not itself constitute a breach
of this paragraph 6.b.

          c. Agreement Not to Hire. For a period of twelve (12) consecutive months after the
Separation Date, Executive will not, directly or indirectly, hire, engage, or solicit any person
who is an employee of the Company or any of its Affiliates, or who was an

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CONFIDENTIAL 

employee of the Company or any of its Affiliates at any time during the 180-day period
immediately preceding the Separation Date, in any manner or capacity, including without limitation
as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any
association, consultant or otherwise.

          d. Agreement Not to Interfere. For a period of twelve (12) consecutive months after
the Separation Date, Executive will not, directly or indirectly, induce or attempt to induce any
vendor, supplier, independent contractor or customer of the Company or of any of its Affiliates to
cease doing business with or terminate or alter its relationship with the Company or any of its
Affiliates.

          e. Acknowledgment. Executive agrees that the restrictions and agreements contained
in this paragraph 6 are reasonable and necessary to protect the legitimate interests of the Company
and that any violation of this paragraph 6 will cause substantial and irreparable harm to the
Company that would not be quantifiable and for which no adequate remedy would exist at law.
Executive acknowledges that it would be difficult to fully compensate the Company for damages
resulting from any breach by her of the provisions of paragraph 6 of the Agreement. Accordingly,
in the event of any actual or threatened breach of such provisions, the Company will (in addition
to any other remedies it may have) be entitled to temporary and/or permanent injunctive and other
equitable relief to enforce such provisions, and such relief may be granted without the necessity
of proving actual damages.

          f. Blue Pencil Doctrine. If the duration of, or business activities covered by, this
paragraph 6 are in excess of what is valid and enforceable under applicable law, such provision
will be construed to cover only that duration or those activities as are valid and enforceable.
Executive acknowledges the uncertainty of the law in this respect and

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CONFIDENTIAL 

expressly stipulates that this paragraph 6 be given the construction which renders its
provisions valid and enforceable to the maximum extent (not exceeding its express terms) possible
under applicable laws.

     7. Cooperation. At any time upon reasonable request and notice from the Company,
Executive will, without further consideration but at no expense to Executive,
(a) timely execute and deliver such acknowledgements, instruments, certificates, and other
ministerial documents (including without limitation, certification as to specific actions performed
by Executive in her capacity for the Company or any of its Affiliates) as may be necessary or
appropriate to formalize and complete the Company’s or any Affiliate’s corporate records; provided,
however, that nothing in this paragraph 7 will require Executive to take any action that she
reasonably believes to be unlawful or unethical or to make any inaccurate statement of actual
facts, and (b) provide complete and truthful information to, and otherwise cooperate fully with,
the Company, any of its Affiliates, and any of its or their legal counsel, agents, insurers and
representatives in connection with any investigations, litigation or other matters relating to the
Company or any of its Affiliates in which the Company determines that Executive may have relevant
information. In addition, at the Company’s reasonable request and upon reasonable notice,
Executive will, during the time the Company is making salary continuation payments to her under
paragraph 4 above and without further consideration, discuss and consult with the Company regarding
business matters that she was directly and substantially involved with while employed by the
Company.

     8. Claims Involving the Company. Executive will not recommend or suggest to any
potential claimants or plaintiffs or their attorneys or agents that they initiate claims or
lawsuits against the Company, any of its Affiliates, or any of its or their directors, officers,

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employees, or agents, nor will Executive voluntarily aid, assist, or cooperate with any claimants
or plaintiffs or their attorneys or agents in any claims or lawsuits now pending or commenced in
the future against the Company, any of its Affiliates, or any of its or their directors, officers,
employees, or agents; provided, however, that this paragraph 8 will not be interpreted or construed
to prevent Executive from providing information to any governmental or law enforcement agency or
from giving testimony in response to questions asked pursuant to a legally enforceable subpoena,
deposition notice or other legal process.

     9. Records, Documents, and Property. Executive confirms that she has delivered to the
Company any and all Company or Affiliate records and any and all Company or Affiliate property in
her possession or under her control, including without limitation, manuals, books, blank forms,
documents, letters, memoranda, notes, notebooks, reports, printouts, computer disks, computer
tapes, data, tables, or calculations and all copies thereof, documents that in whole or in part
contain any trade secrets or confidential, proprietary, or other secret information of the Company
or of any of its Affiliates, and all copies thereof, and keys, access cards, access codes, source
codes, passwords, raw materials, products, product samples, credit cards, personal computers,
telephones, BlackBerry and other electronic equipment belonging to the Company or any of its
Affiliates.

     10. Non-Disparagement. Executive will not at any time disparage, defame or besmirch
the reputation, character, image, products or services of the Company, any of its Affiliates, or
the reputation or character of any of their current or former directors, officers, employees or
agents.

     11. Actions Taken by Executive. Executive represents and warrants that, during the
entire period that she has been an employee or officer of the Company or any of its

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Affiliates, she acted in good faith and had no reasonable cause to believe that her conduct was
unlawful.

     12. Indemnification. Notwithstanding Executive’s separation from the Company, with
respect to events that occurred during her tenure as an employee or officer of the Company,
Executive will be entitled, as a former employee or officer of the Company, to the same rights that
are afforded to other current or former employees or officers of the Company, now or in the future,
to indemnification and advancement of expenses as provided in the charter documents of the Company
and under applicable law, and to indemnification and a legal defense to the extent provided from
time to time to current officers by any applicable general liability and/or directors’ and
officers’ liability insurance policies maintained by the Company.

     13. Confidentiality.

          a. General Standard. It is understood and agreed that this Agreement and summaries
thereof may be disclosed in filings with the Securities and Exchange Commission and summarized in
proxy statements disseminated to shareholders of Wilsons The Leather Experts Inc. Notwithstanding
such public filings, in order to minimize disruption and distraction from on-going business
operations, it is the intent of the parties that the terms of Executive’s separation from the
Company, including the provisions of this Agreement and the Release (collectively “Confidential
Separation Information”), will be forever treated as confidential. Accordingly, except as provided
in subparagraph 13.b. below, Executive will not disclose Confidential Separation Information to
anyone at any time and will not comment on Confidential Separation Information to anyone at any
time and will not comment on Confidential Separation Information if asked about it by employees or
former employees of the Company.

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CONFIDENTIAL 

          b. Exceptions.

	 	i.	 	It will not be a violation of this Agreement
for Executive to disclose Confidential Separation Information in
reports to governmental agencies as required by law, including, but not
limited to, any federal or state tax authority.
	 
	 	ii.	 	It will not be a violation of this Agreement
for Executive to disclose Confidential Separation Information to her
immediate family, her attorneys, her accountants or tax advisors.
	 
	 	iii.	 	It will not be a violation of this Agreement
for Executive to disclose Confidential Separation Information in
connection with any litigation proceeding involving the parties’ rights
or obligations under this Agreement or the Release.
	 
	 	iv.	 	It will not be a violation of this Agreement
for Executive to disclose Confidential Separation Information in the
course of any job search, in response to questions from prospective
employers about Executive’s departure from the Company or Executive’s
obligations under paragraph 6 of this Agreement.

     14. Full Compensation. Executive understands that the payments made and other
consideration provided by the Company under this Agreement will fully compensate Executive for and
extinguish any and all of the potential claims Executive is releasing in the Release, including
without limitation, her claims for attorneys’ fees and costs and any and all claims for any type of
legal or equitable relief.

     15. Withholding of Taxes. The Company shall withhold from payments and benefits
hereunder income and employment taxes and other amounts to the extent required by law. If there is
any dispute over the taxation of any such payment or benefit, the Company and Executive will cause
their respective tax advisors to cooperate in an effort to resolve such dispute.

     16. No Admission of Wrongdoing. Executive understands that this Agreement does not
constitute an admission that the Company, any of its Affiliates, or any of its or their directors,
officers, employees, or agents has violated any local ordinance, state or federal

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statute, or principle of common law, or that the Company, any of its Affiliates, or any of its or
their directors, officers, employees, or agents has engaged in any unlawful or improper conduct
toward Executive. Executive will not characterize this Agreement or the payment of any money or
other consideration in accordance with this Agreement as an admission that the Company or any of
its Affiliates has engaged in any unlawful or improper conduct toward her or treated her unfairly.

     17. Authority. Executive represents and warrants that she has the authority to enter
into this Agreement and the Release, and that no causes of action, claims, or demands released
pursuant to this Agreement and the Release have been assigned to any person or entity not a party
to this Agreement and the Release.

     18. Legal Representation. Executive acknowledges that she has been advised by the
Company to consult with her own attorney before executing this Agreement and the Release, that she
has had a full opportunity to consider this Agreement and the Release, that she has had a full
opportunity to ask any questions that she may have concerning this Agreement, the Release, or the
settlement of her potential claims against the Company and others, and that she has not relied upon
any statements or representations made by the Company, its Affiliates or its or their attorneys,
written or oral, other than the statements and representations that are explicitly set forth in
this Agreement, the Release, and any qualified employee benefit plans sponsored by the Company in
which Executive is a participant.

     19. Assignment. This Agreement shall not be assignable, in whole or in part, by
Executive without the prior written consent of the Company. The Company may, without the consent
of Executive, assign its rights and obligations under this Agreement.

     20. Entire Agreement. This Agreement, the Release, the Stock Option Agreements, and
any qualified employee benefit plans sponsored by the Company in which

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Executive is a participant are intended to define the full extent of the legally enforceable
undertakings of the parties, and no promises or representations, written or oral, that are not set
forth explicitly in this Agreement, the Release, the Stock Option Agreements, or any qualified
employee benefit plans sponsored by the Company in which Executive is a participant are intended by
either party to be legally binding. All other agreements and understandings between Executive and
the Company or any of its Affiliates (including without limitation the Stay Bonus Agreement) are
hereby cancelled, terminated, and superseded.

     21. Period to Consider the Release and the Agreement. Executive understands that she
has 45 days to consider whether to sign this Agreement and the Release. If Executive signs this
Agreement and the Release before the end of the 45-day period, it will be her voluntary decision to
do so because she has decided she does not need any additional time to decide whether to sign this
Agreement and the Release.

     22. Right to Rescind or Revoke. Executive understands that she has the right to
rescind or revoke this Agreement and the Release for any reason within fifteen (15) calendar days
after she signs them. Executive understands that this Agreement will not become effective or
enforceable unless and until she has not rescinded this Agreement or the Release and the Rescission
Period has expired. Executive understands that if she wishes to rescind, the rescission must be in
writing and hand-delivered or mailed to the Company. If hand-delivered, the rescission must be (a)
addressed to Corrie Lapinsky, Director Legal Services, 7401 Boone Avenue North, Brooklyn Park,
Minnesota 55428, and (b) delivered to Corrie Lapinsky within the fifteen-day period. If mailed,
the rescission must be (a) postmarked within the fifteen-day period and (b) addressed to Corrie
Lapinsky at the address in the preceding sentence.

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     23. Headings. The descriptive headings of the paragraphs and subparagraphs of this
Agreement are inserted for convenience only and do not constitute a part of this Agreement.

     24. Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, each of which will be deemed an original, but all of which together will constitute
one and the same instrument.

     25. Governing Law. This Agreement and the Release will be interpreted and construed
in accordance with, and any dispute or controversy arising from any breach or asserted breach of
this Agreement or the Release will be governed by, the laws of the State of Minnesota.

          IN WITNESS WHEREOF, the parties have executed this Agreement on the date stated below.

	 	 	 	 	 
	 	 	 
	Dated: March 16, 2007  	/s/ Betty A. Goff
 	 
	 	BETTY A. GOFF 	 
	 	 	 
	 
	Dated: March 23, 2007  	RIVER HILLS WILSONS, INC.

 	 
	 	BY:  /s/ Michael M. Searles
 	 
	 	Michael M. Searles 	 
	 	Its Chief Executive Officer 	 

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CONFIDENTIAL 

RELEASE BY BETTY A. GOFF

Definitions. I intend all words used in this Release to have their plain meanings in
ordinary English. Specific terms that I use in this Release have the following meanings:

	 	A.	 	I, me, and my include both me and anyone who has or
obtains any legal rights or claims through me.
	 
	 	B.	 	Wilsons means River Hills Wilsons, Inc., Wilsons The Leather Experts
Inc., any company related to River Hills Wilsons, Inc. or Wilsons The Leather Experts
Inc. in the present or past (including without limitation any of their predecessors,
parents, subsidiaries, affiliates, and joint venture partners), and any successors of
River Hills Wilsons, Inc. or Wilsons The Leather Experts Inc.
	 
	 	C.	 	Company means Wilsons; the present and past officers, directors,
committees, and employees of Wilsons; any company providing insurance to Wilsons in the
present or past; the present and past fiduciaries of any employee benefit plan
sponsored or maintained by Wilsons (other than multiemployer plans); the attorneys for
Wilsons; and anyone who acted on behalf of Wilsons or on instructions from Wilsons.
	 
	 	D.	 	Agreement means the Separation Agreement between Wilsons and me that I
have executed on the same date as I am executing this Release, including all of the
documents attached to the Agreement.
	 
	 	E.	 	My Claims mean all of my rights that I now have to any relief of any
kind from the Company, whether or not I now know about those rights, including without
limitation:

	 	1.	 	all claims arising out of or relating to my employment with
Wilsons or the termination of that employment;
	 
	 	2.	 	all claims arising out of or relating to the statements,
actions, or omissions of the Company;
	 
	 	3.	 	all claims for any alleged unlawful discrimination, harassment,
retaliation or reprisal, or other alleged unlawful practices arising under any
federal, state, or local statute, ordinance, or regulation, including without
limitation, claims under Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, 42
U.S.C. § 1981, the Employee Retirement Income Security Act, the Equal Pay Act,
the Worker Adjustment and Retraining Notification Act, the Family and Medical
Leave Act, the Sarbanes-Oxley Act, the Fair Credit Reporting Act, the Minnesota
Human Rights Act, and workers’ compensation non-interference or non-retaliation
statutes (such as Minn. Stat. § 176.82);

EXHIBIT A

 

 

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	 	4.	 	all claims for alleged wrongful discharge; breach of contract;
breach of implied contract; failure to keep any promise; breach of a covenant
of good faith and fair dealing; breach of fiduciary duty; estoppel; my
activities, if any, as a “whistleblower”; defamation; infliction of emotional
distress; fraud; misrepresentation; negligence; harassment; retaliation or
reprisal; constructive discharge; assault; battery; false imprisonment;
invasion of privacy; interference with contractual or business relationships;
any other wrongful employment practices; and violation of any other principle
of common law;
	 
	 	5.	 	all claims for compensation of any kind, including without
limitation, bonuses, commissions, stock-based compensation or stock options,
vacation pay, relocation expenses, perquisites, and expense reimbursements;
	 
	 	6.	 	all claims for back pay, front pay, reinstatement, other
equitable relief, compensatory damages, damages for alleged personal injury,
liquidated damages, and punitive damages; and
	 
	 	7.	 	all claims for attorneys’ fees, costs, and interest.
	 
	 	
However, My Claims  do not include any claims that the law does not allow to
be waived, any claims that may arise after the date on which I sign this Release, or
any claims for breach of the Agreement.

Agreement to Release My Claims. I will receive consideration from Wilsons as set forth in
the Agreement if I sign and do not rescind this Release as provided below. I understand and
acknowledge that the consideration is in addition to anything of value that I would be entitled to
receive from Wilsons if I did not sign this Release or if I rescinded this Release. In exchange
for that consideration I give up and release all of My Claims. I will not make any demands or
claims against the Company for compensation or damages relating to My Claims. The consideration
that I am receiving is a fair compromise for the release of My Claims.

Additional Agreements and Understandings. Even though Wilsons will provide consideration
for me to settle and release My Claims, the Company does not admit that it is responsible or
legally obligated to me. In fact, the Company denies that it is responsible or legally obligated
to me for My Claims, denies that it engaged in any unlawful or improper conduct toward me, and
denies that it treated me unfairly.

Confidentiality. I understand that the terms of this Release are confidential and that I
may not disclose those terms to any person except under the circumstances described in the
Agreement.

Advice to Consult with an Attorney. I understand and acknowledge that I am hereby being
advised by the Company to consult with an attorney prior to signing this Release and I have done
so. My decision whether to sign this Release is my own voluntary decision made with full knowledge
that the Company has advised me to consult with an attorney.

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Acknowledgement of Receipt of Information. I confirm that I have received from Wilsons a
written disclosure of information relating to employees affected by the restructuring of Wilsons’
senior management, which includes the job titles and ages of senior managers who are being offered
severance pay in exchange for a release of claims and information about senior managers who are not
being offered severance pay, and that I understand the information contained on such disclosure.

Period to Consider the Release. I understand that I have 45 days from the day that I
receive this Release and the information disclosure, not counting the day upon which I receive
them, to consider whether I wish to sign this Release. If I sign this Release before the end of
the 45-day period, it will be my voluntary decision to do so because I have decided that I do not
need any additional time to decide whether to sign this Release. I also agree that any changes made
to this Release or the Agreement before I sign it, whether material or immaterial, will not restart
the 45-day period.

My Right to Rescind this Release. I understand that I may rescind this Release at any time
within 15 days after I sign it, not counting the day upon which I sign it. This Release will not
become effective or enforceable unless and until the 15-day rescission period has expired without
my rescinding it.

Procedure for Accepting or Rescinding the Release. To accept the terms of this Release, I
must deliver the Release, after I have signed and dated it, to Wilsons by hand or by mail within
the 45-day period that I have to consider this Release. To rescind my acceptance, I must deliver a
written, signed statement that I rescind my acceptance to Wilsons by hand or by mail within the
15-day rescission period. All deliveries must be made to Wilsons at the following address:

Corrie Lapinsky

Director, Legal Services

Wilsons Leather

7401 Boone Avenue North

Brooklyn Park, Minnesota 55428

If I choose to deliver my acceptance or the rescission of my acceptance by mail, it must be
postmarked within the period stated above and properly addressed to Wilsons at the address stated
above.

Interpretation of the Release. This Release should be interpreted as broadly as possible
to achieve my intention to resolve all of My Claims against the Company. If this Release is held
by a court to be inadequate to release a particular claim encompassed within My Claims, this
Release will remain in full force and effect with respect to all the rest of My Claims.

My Representations. I am legally able and entitled to receive the consideration being
provided to me in settlement of My Claims. I have not been involved in any personal bankruptcy or
other insolvency proceedings at any time since I began my employment with Wilsons. No child
support orders, garnishment orders, or other orders requiring that money owed to me by Wilsons be
paid to any other person are now in effect.

A-3

 

CONFIDENTIAL 

I have read this Release carefully. I understand all of its terms. In signing this Release, I
have not relied on any statements or explanations made by the Company except as specifically set
forth in the Agreement and the Release signed by Wilsons. I am voluntarily releasing My Claims
against the Company. I intend this Release and the Agreement to be legally binding.

	 	 	 	 	 
	 	 	 
	Dated: March 16, 2007  	/s/ Betty A. Goff
 	 
	 	Betty A. Goff 	 
	 	 	 
	 

A-4exv10w1

 

Exhibit 10.1

ACCENTURE LTD

2001 SHARE INCENTIVE PLAN

RESTRICTED SHARE UNIT AGREEMENT

(Key Executive Performance-Based Award)

     Accenture Ltd, an exempted company registered in Bermuda (the “Company”), hereby grants, as of
[___date___], to [___name___] (the “Participant”), a total number of [___number___] Restricted
Share Units (“RSUs”), on the terms and conditions set forth herein. This grant is made pursuant to
the terms of the Accenture Ltd 2001 Share Incentive Plan (the “Plan”), which Plan, as amended from
time to time, is incorporated herein by reference and made a part of this Restricted Share Unit
Agreement (this “Agreement”).

     Capitalized terms not otherwise defined in this Agreement shall have the same meaning ascribed
to them in the Plan. The terms and conditions of the RSUs granted hereunder, to the extent not
controlled by the terms and conditions contained in the Plan, are as follows:

     1. Performance-Based Vesting.

          (a) Performance Period. The RSUs shall vest, if at all, based upon the attainment of specific
pre-established financial performance objectives (the “Performance Objectives”) by the Company for
the period commencing on [___date___] and ending on [___date + [3] years___] (the “Performance
Period”), as set forth in this Section 1.

          (b) Service Relationship. Except as provided in Section 2(a), RSUs that are unvested as of the
termination of the Participant’s full-time employment status with the Company or any of its
Subsidiaries (collectively, the “Constituent Companies”) shall be immediately forfeited as of such
termination and the Company shall have no further obligations with respect thereto. Such employment
status shall hereinafter be referred to in this Agreement as “Qualified Status.”

          (c) Total Shareholder Return.

          (i) Up to twenty-five percent (25%) of the RSUs granted to the Participant pursuant to this
Agreement shall vest, if at all, based upon the Total Shareholder Return for the Company, as
compared to the Comparison Companies, for the Performance Period in the manner set forth on Exhibit
1-A hereto.

          (ii) For purposes of this Agreement, Total Shareholder Return with respect to the Company and
each of the Comparison Companies shall mean the quotient of (A) the Fair Value of the stock of the
particular company or index on [___end date___], divided by (B) the Fair Value of the stock of such
company or index on [___start date___]. For purposes of calculating a company’s Total Shareholder
Return, the Fair Value of the stock of any company on [___end date___] shall be adjusted to reflect
any and all cash, stock or in-kind dividends paid on the stock of such company during the
Performance Period as follows: the Fair Value of the stock of the company on [___end date___] shall
be multiplied by the sum of (Y) one (1) plus (Z) the number of whole and fractional shares of the
stock of the company that (i) were actually received in respect of one share (or such greater
number of shares that are deemed to have been held at such time pursuant to this clause (c)(ii)) by
way of a stock dividend and (ii) would otherwise result assuming each cash dividend paid on the
stock (or fair market value of any in-kind dividend, as determined by the Committee) of the company
during the Performance Period was used to purchase additional whole and/or fractional shares of
stock of the company on the record date of such dividend based on the fair market value of the
stock of the company (as determined by the Committee), or with respect to the Company, the Fair
Market Value of a Share, on the record date of such dividend.

          (iii) If at any time prior to the completion of the Performance Period, a Comparison Company
ceases to be a publicly-traded company, merges or consolidates with another company, is acquired or
disposes of a significant portion of its businesses as they exist on the date of this Agreement or
experiences any other extraordinary event as determined by the Committee in its sole discretion,
the Committee, in its sole discretion, may remove such Comparison Company.

 

 

          (iv) For purposes of this Agreement: (i) “Comparison Companies” shall mean Affiliated Computer
Services, Inc. (ACS), BearingPoint, Inc. (BE), Cap Gemini S.A., Computer Sciences Corporation
(CSC), Electronic Data Systems Corporation (EDS), EMC Corporation (EMC), First Data Corporation
(FDC), Hewitt Associates, Inc. (HEW), Hewlett-Packard Company (HPQ), International Business
Machines Corporation (IBM), Keane, Inc. (KEA), Oracle Corporation (ORCL), Sapient Corporation
(SAPE), Sun Microsystems, Inc. (SUNW), Unisys Corporation (UIS) and the S&P 500 Index (SPX); and
(ii) the “Fair Value” of (A) a share of stock of a company on a given date shall mean the average
of the high and low trading price of the stock of the company, as reported on the principal
exchange on which the stock of such company is traded (or, if the stock is not traded on an
exchange but is quoted on Nasdaq or a successor quotation system, the average of the mean between
the closing representative bid and asked prices for the stock) and (B) for the S&P 500 Index on a
given date shall mean the average of the high and low values for such index as reported in the Wall
Street Journal (or, if the S&P 500 Index is not reported in the Wall Street Journal, in such other
reliable source as the Company may determine), in each case for the ten (10) consecutive trading
days immediately preceding such date.

          (d) Operating Income Growth Rate. Up to 75% of the RSUs granted to the Participant pursuant to
this Agreement shall vest, if at all, based upon the achievement of Operating Income targets by the
Company for the Performance Period, as set forth on Exhibit 1-B hereto. For purposes of this
Agreement:

          “Target Cumulative Operating Income” shall mean the aggregate of the “Operating Income Plan,”
as approved by the Committee, for each of the Company’s [___number___] fiscal years during the
Performance Period. Within a reasonable period following the availability of all relevant data (as
determined by the Committee in its sole discretion), the Committee will approve the Company’s
operating income plan for each applicable fiscal year during the Performance Period (each an
“Operating Income Plan”).

          “Actual Cumulative Operating Income” shall mean the aggregate of the Company’s actual
operating income for the Company’s [___number
___] fiscal years during the Performance Period,
as determined from the Company’s final, audited financial statements for such fiscal years.

          In the event that, as determined in the sole discretion of the Committee and due to a required
change in generally accepted accounting practices, a change in the accounting methods of the
Company or an extraordinary and material event in the Company’s business (each of the foregoing
events being referred to herein as a “Material Event”), Actual Cumulative Operating Income
determined after the occurrence of a Material Event would be materially different as a result of
the occurrence thereof, the Committee may instruct the Company to determine Actual Cumulative
Operating Income for such period, solely for purposes of this Agreement, as if the Material Event
had not happened or was not effective. Such instruction may be limited to apply to fiscal periods
in which the applicable Operating Income Plan did not account for the occurrence of the Material
Event.

          (e) Certification. No RSUs granted to the Participant hereunder shall vest in accordance with
Sections 1(c) or (d) unless and until the Committee makes a certification in writing with respect
to the achievement of the Performance Objectives for the Performance Period. Following the end of
the Performance Period, the Committee shall review and determine whether the Performance Objectives
have been met within a reasonable period following the availability of all data necessary to
determine whether the Performance Objectives have been achieved, and not later than [___date___],
shall certify such finding to the Company and to the Participant.

     2. Termination of Employment.

          (a) Termination as a result of death, Disability, or Involuntary Termination; Age-Based
Contingent Vesting. Notwithstanding anything in Section 1 to the contrary, the RSUs granted
hereunder shall vest upon the termination of the Participant’s Qualified Status as a result of
death, Disability, Involuntary Termination or if, at the end of the Performance Period,
Participant’s Qualified Status has terminated and Participant has attained a certain age, all as
follows:

          (i) Termination as a result of death or Disability. In the event the Participant’s Qualified
Status is terminated during the Performance Period as a result of death or Disability, the RSUs
granted to the Participant hereunder shall remain outstanding throughout the Performance Period and
shall vest, if at all, in accordance with Sections 1(c) or (d) upon completion of the Performance
Period.

          (ii) Involuntary Termination. In the event the Participant’s Qualified Status is terminated
during the Performance Period due to an Involuntary Termination, the RSUs granted to the
Participant hereunder shall remain outstanding throughout the Performance Period. Upon completion
of the Performance Period, the Participant shall vest in the number of RSUs granted hereunder equal
to the product of (i) the aggregate number of RSUs that would otherwise vest upon completion of the
Performance Period in accordance with

2

 

Sections 1(c) or (d), multiplied by (ii) a fraction, the numerator of which is the whole
number of months that have elapsed from the commencement of the Performance Period through the
effective date of the Participant’s Involuntary Termination and the denominator of which is
[___number of months in Performance Period___].

          (iii) Age-Based Contingent Vesting. (A) Unless paragraph (B) or (C) below is also applicable,
in the event that, as of the end of the Performance Period, the Participant is not in compliance
with the provisions of Section 1(b) for any reason other than death, Disability, Involuntary
Termination or termination for Cause and the Participant has attained the age of 52 prior to the
commencement of or during the Performance Period, one-third of the RSUs granted to the Participant
hereunder shall be deemed to remain outstanding throughout the Performance Period and shall vest,
if at all, in accordance with Sections 1(c) and (d); provided, that, the foregoing shall not be
applicable if the participant had not attained the age of 51 on or prior to the commencement of the
Performance Period.

               (B) Unless paragraph (C) below is also applicable, in the event that, as of the end of the
Performance Period, the Participant is not in compliance with the provisions of Section 1(b) for
any reason other than death, Disability, Involuntary Termination or termination for Cause and the
Participant has attained the age of 54 prior to the commencement of or during the Performance
Period, two-thirds of the RSUs granted to the Participant hereunder shall be deemed to remain
outstanding throughout the Performance Period and shall vest, if at all, in accordance with
Sections 1(c) and (d).

               (C) In the event that, as of the end of the Performance Period, the Participant is not in
compliance with the provisions of Section 1(b) for any reason other than death, Disability,
Involuntary Termination or termination for Cause and the Participant has attained the age of 56
prior to the commencement of or during the Performance Period 100% of the RSUs granted to the
Participant hereunder shall be deemed to remain outstanding throughout the Performance Period and
shall vest, if at all, in accordance with Sections 1(c) and (d).

          (b) Termination for reasons other than death, Disability, Involuntary Termination or Specified
Age Attainment. In the event the Participant’s Qualified Status is terminated during the
Performance Period for any reason other than death, Disability, Involuntary Termination, except as
set forth in Section 2(a)(iii) above, the RSUs granted hereunder shall be immediately forfeited as
of such termination and the Company shall have no further obligation with respect thereto.

          (c) Definitions. For purposes of this Agreement, the following terms shall have the meaning
specified below:

          (i) “Cause” shall mean “cause” as defined in any employment or consultancy agreement (or
similar agreement) or in any letter of appointment then in effect between the Participant and the
Company or any Affiliate or if not defined therein (it being the intent that the definition of
“Cause” shall include, at a minimum, the acts set forth below), or if there shall be no such
agreement, to the extent legally permissible, (a) the Participant’s embezzlement, misappropriation
of corporate funds, or other material acts of dishonesty, (b) the Participant’s commission or
conviction of any felony, or of any misdemeanor involving moral turpitude, or entry of a plea of
guilty or nolo contendere to any felony or misdemeanor, (c) engagement in any activity that the
Participant knows or should know could harm the business or reputation of the Company or an
Affiliate, (d) the Participant’s material failure to adhere to the Company’s or an Affiliate’s
corporate codes, policies or procedures as in effect from time to time, (e) the Participant’s
continued failure to meet minimum performance standards as determined by the Company or an
Affiliate, (f) the Participant’s violation of any statutory, contractual, or common law duty or
obligation to the Company or an Affiliate, including, without limitation, the duty of loyalty, or
(g) the Participant’s material breach of any confidentiality or non-competition covenant entered
into between the Participant and the Company or an Affiliate, including, without limitation, the
covenants contained in this Agreement. The determination of the existence of Cause shall be made by
the Company in good faith, which determination shall be conclusive for purposes of this Agreement.

          (ii) “Disability” shall mean “disability” (A) as defined in any employment or consultancy
agreement (or similar agreement) or in any letter of appointment then in effect between the
Participant and the Company or any Affiliate or (B) if not defined therein, or if there shall be no
such agreement, as defined in the long-term disability plan maintained by the Constituent Company
by which the Participant is employed or for which the Participant serves as a consultant or by
appointment, as in effect from time to time, or (C) if there shall be no plan, the inability of the
Participant to perform in all material respects his or her duties and responsibilities to the
Constituent Companies for a period of six (6) consecutive months or for an aggregate period of nine
(9) months in any twenty-four (24) consecutive month period by reason of a physical or mental
incapacity.

3

 

          (iii) “Involuntary Termination” shall mean termination of Qualified Status, as applicable,
with the Constituent Companies (other than for Cause) which is not voluntary and which is
acknowledged as being “involuntary” in writing by an authorized officer of the Company.

     3. Form and Timing of Issuance or Transfer.

          (a) Vested RSUs. Distribution of RSUs shall be made hereunder only in respect of vested RSUs,
and shall be made in Shares on a one-for-one basis; provided, however, that in lieu of Shares,
fractional vested RSUs shall be distributed to the Participant in cash based upon the Fair Market
Value of a Share at the time of distribution.

          (b) Distribution Date. Unless the Committee permits the Participant to elect to defer the
issuance or transfer of Shares under this Agreement pursuant to Section 22 and such other terms and
conditions established by the Committee (or its designee) in its sole discretion, vested RSUs, if
any, shall be distributed to the Participant in the manner set forth in Section 3(a) on the date
the Committee makes a certification in writing with respect to the achievement of the Performance
Objectives for the Performance Period as provided in Section 1(e).

     4. Dividends. If on any date while RSUs are outstanding hereunder the Company shall pay any
dividend on the Shares (other than a dividend payable in Shares), the number of RSUs granted to the
Participant shall, as of such dividend payment date, be increased by a number of RSUs equal to: (a)
the product of (i) the number of RSUs held by the Participant as of the related dividend record
date, multiplied by (ii) the per Share amount of any cash dividend (or, in the case of any dividend
payable in whole or in part other than in cash, the per Share value of such dividend, as determined
in good faith by the Committee), divided by (b) the Fair Market Value of a Share on the payment
date of such dividend. In the case of any dividend declared on Shares that is payable in the form
of Shares, the number of RSUs granted to the Participant shall be increased by a number equal to
the product of (x) the aggregate number of RSUs held by the Participant through the related
dividend record date, multiplied by (y) the number of Shares (including any fraction thereof)
payable as a dividend on a Share. Any additional RSUs granted to the Participant pursuant to this
Section 4 during the Performance Period shall also be subject to the vesting requirements of
Sections 1(c) and (d).

     5. Adjustments Upon Certain Events.

          (a) The grant of the RSUs shall not in any way affect the right or power of the Company to
make adjustments, reclassification, or changes in its capital or business structure, or to merge,
consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets.

          (b) In the event of any dividend or other distribution other than a cash dividend (whether in
the form of Shares, other securities or other property), recapitalization, reclassification, stock
split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or
substantially all of the assets of the Company, or exchange of Shares or other securities of the
Company, issuance of warrants or other rights to purchase Shares or other securities of the
Company, or other similar corporate transaction or event (collectively, an “Adjustment Event”), the
Committee may, in its sole discretion, (i) adjust the Shares or RSUs subject to this Agreement and
(ii) adjust the methodology for calculating Total Shareholder Return and Operating Income in
accordance with Sections 1(c) and (d) to reflect such Adjustment Event.

     6. Compliance, Cancellation and Rescission of Shares.

          (a) Upon any transfer or issuance of Shares underlying RSUs, the Participant shall certify in
a manner acceptable to the Company that the Participant is in compliance with the terms and
conditions of this Agreement and the Plan.

4

 

          (b) In the event the Participant’s Qualified Status with the Constituent Companies is
terminated for Cause, or Participant otherwise takes such action that would constitute Cause, or if
the Participant breaches any of the provisions of Section 7 of this Agreement, the Participant
shall, to the extent legally permitted, transfer to the Company the Shares that have been issued or
transferred under this Agreement (without regard to whether the Participant continues to own or
control such previously delivered Shares) and the Participant shall bear all costs of issuance or
transfer, including any transfer taxes that may be payable in connection with any transfer.

     7. Restrictive Covenants.

          (a) The Participant shall not, for a period of eighteen months following the termination of
the Participant’s Qualified Status with the Constituent Companies:

          (i) associate (including, but not limited to, association as a sole proprietor, owner,
employer, partner, principal, investor, joint venturer, shareholder, associate, employee, member,
consultant, contractor or otherwise) with any Competitive Enterprise or any of the affiliates,
related entities, successors, or assigns of any Competitive Enterprise; provided, however, that
with respect to the equity of any Competitive Enterprise which is or becomes publicly traded, the
Participant’s ownership as a passive investor of less than 1% of the outstanding publicly traded
stock of a Competitive Enterprise shall not be deemed a violation of this Section 7(a)(i);

          (ii) directly or indirectly (A) solicit, or assist any other individual, person, firm or other
entity in soliciting, any Client or Prospective Client for the purpose of performing or providing
any Consulting Services; (B) perform or provide, or assist any other individual, person, firm or
other entity in performing or providing, Consulting Services for any Client or Prospective Client;
(C) interfere with or damage (or attempt to interfere with or damage) any relationship and/or
agreement between the Company or any Affiliates and a Client or Prospective Client; or

          (iii) directly or indirectly, solicit, employ or retain, or assist any other individual,
person, firm or other entity in soliciting, employing or retaining, any employee or other agent of
the Company or an Affiliate, including, without limitation, any former employee or other agent of
the Company, its Affiliates and/or their predecessors who ceased working for the Company, its
Affiliates and/or their predecessors within an eighteen-month period before or after the date on
which the Participant’s Qualified Status with the Constituent Companies terminated.

          (b) For purposes of this Agreement:

          (i) “Client” shall mean any person, firm, corporation or other organization whatsoever for
whom the Company, its Affiliates and/or their predecessors provided services within an
eighteen-month period before or after the date on which the Participant’s Qualified Status with the
Constituent Companies terminated.

          (ii) “Competitive Enterprise” shall mean a business enterprise that engages in, or owns or
controls a significant interest in any entity that engages in, the performance of services of the
type provided by the Company, its Affiliates and/or their predecessors at any time, past, present
or future.

          (iii) “Consulting Services” shall mean the performance of any services of the type provided by
the Company, its Affiliates and/or their predecessors at any time, past, present or future.

          (iv) “Prospective Client” shall mean any person, firm, corporation, or other organization
whatsoever with whom the Company, its Affiliates and/or their predecessors have had any
negotiations or discussions regarding the possible performance of services within the eighteen
months preceding the termination of the Participant’s Qualified Status with the Constituent
Companies.

          (v) “solicit” shall mean to have any direct or indirect communication of any kind whatsoever,
regardless of by whom initiated, inviting, advising, encouraging or requesting any person or
entity, in any manner, to take or refrain from taking any action.

     8. No Acquired Rights. By participating in the Plan, and accepting the grant of RSUs under
this Agreement, the Participant agrees and acknowledges that:

          (a) the Plan is discretionary in nature and that the Company can amend, cancel or terminate
the Plan at any time;

5

 

          (b) the grant of the RSU under the Plan is voluntary and occasional, and does not create any
contractual or other right to receive future grants of any RSUs or benefits in lieu of any RSUs,
even if RSUs have been granted repeatedly in the past;

          (c) the value of the RSUs is an extraordinary item of compensation, which is outside the scope
of the Participant’s Qualified Status contract, if any;

          (d) the RSUs are not part of normal or expected compensation or salary for any purpose,
including, but not limited to, calculating any termination, severance, resignation, redundancy, end
of service payments, bonuses, long-service awards, pension or retirement benefits or similar
payments;

          (e) the future value of the shares subject to the RSUs is unknown and cannot be predicted with
any certainty;

          (f) the Participant shall not make any claim or have any entitlement to compensation or
damages in connection with the termination of the RSUs or diminution in value of the RSUs under the
Plan, and Participant hereby irrevocably releases the Company and all of its Affiliates from any
such claim or entitlement; and

          (g) the Participant’s participation in the Plan shall not create a right to employment or
further employment with or to provide services as a director, consultant or advisor to the Company
or any of its Affiliates, and shall not interfere with or limit the ability of the Company to
terminate the Participant’s employment relationship or other services at any time, with or without
cause.

          (h) no terms of any contract of employment or consultancy (or similar agreement) of the
Participant shall be affected in any way by the Plan, this Agreement or related instruments, except
as otherwise expressly provided herein.

     9. No Rights of a Shareholder. The Participant shall not have any rights as a shareholder of
the Company until the Shares in question have been registered in the Company’s register of
shareholders.

     10. Unfunded Obligation; Unsecured Creditor. The RSUs granted hereunder are an unfunded
obligation of the Company and no assets or shares of the Company shall be set segregated or
earmarked by the Company in respect of any RSUs awarded hereunder. The RSUs granted hereunder shall
be an unsecured obligation of the Company and the rights and interests of the Participant herein
shall make him only a general, unsecured creditor of the Company.

     11. Legend on Certificates. Any Shares issued or transferred to the Participant pursuant to
Section 3 of this Agreement shall be subject to such stop transfer orders and other restrictions as
the Committee may deem advisable under the Plan or the rules, regulations, and other requirements
of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed,
any applicable Federal or state laws or relevant securities laws of the jurisdiction of the
domicile of the Participant or to ensure compliance with any additional transfer restrictions that
may be in effect from time to time, and the Committee may cause a legend or legends to be put on
any certificates representing such Shares to make appropriate reference to such restrictions.

     12. Transferability Restrictions — RSUs/Underlying Shares. RSUs may not be assigned,
alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant
otherwise than by will or by the laws of descent and distribution, and any purported assignment,
alienation, pledge, attachment, sale, transfer or encumbrance not permitted by this Section 12
shall be void and unenforceable against any Constituent Company. Any Shares issued or transferred
to the Participant shall be subject to compliance by the Participant with such policies as the
Committee or the Company may deem advisable from time to time, including, without limitation,
policies relating to minimum executive employee share ownership requirements. Such policies shall
be binding upon the permitted respective legatees, legal representatives, successors and assigns of
the Participant. The Company shall give notice of any such additional or modified terms and
restrictions applicable to Common Shares delivered or deliverable under the Agreement to the holder
of the RSUs and/or the Common Shares so delivered, as appropriate, pursuant to the provisions of
Section 13 or, if a valid address does not appear to exist in the personnel records, to the last
address known by the Company of such holder. Notice of any such changes may be provided
electronically, including, without limitation, by publication of such changes to a central website
to which any holder of the RSUs or Common Shares issued therefrom has access.

     13. Notices. Any notice to be given under this Agreement shall be delivered personally, or
sent by certified, registered or express mail, postage prepaid, addressed to the Company in care of
its General Counsel at:

6

 

Accenture Ltd

1661 Page Mill Road

Palo Alto, CA 94304

Telecopy: (650) 213-2956

Attn: General Counsel

(or, if different, the then current principal business address of the duly appointed General
Counsel of the Company) and to the Participant at the address appearing in the personnel records of
the Company for the Participant or to either party at such other address as either party hereto may
hereafter designate in writing to the other. Any such notice shall be deemed effective upon receipt
thereof by the addressee.

     14. Withholding. The Participant may be required to pay to the Company or any Affiliate and
the Company or any Affiliate shall have the right and is hereby authorized to withhold from any
issuance or transfer due under this Agreement or under the Plan or from any compensation or other
amount owing to the Participant, applicable withholding taxes with respect to this Agreement or any
issuance or transfer under this Agreement or under the Plan and to take such action as may be
necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes.
Notwithstanding the foregoing, if the Participant’s Qualified Status with the Company terminates
due to death, Disability or Involuntary Termination, the payment of any applicable withholding
taxes with respect to any further issuance or transfer of Shares under this Agreement or the Plan
shall be made solely through the sale of Shares equal to the statutory minimum withholding
liability.

     15. Choice of Law and Jurisdiction. The Participant acknowledges that, (a) as of the date
hereof, the Shares underlying the RSUs granted to the Participant hereunder are publicly traded in
the State of New York on the New York Stock Exchange, (b) the Company and its Affiliates have
significant operations and numbers of employees in New York, and (c) the Company, for the purpose
of ensuring predictability and uniformity of results, desires that there be a common body of law
interpreting and enforcing this Agreement. The Parties acknowledge and agree that the State of New
York has a reasonable relationship to this Agreement and the subject matter hereof and to the
Parties’ relationship to one another. The Parties therefore agree that: THE INTERPRETATION,
PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW AND SHALL BE SUBJECT TO THE EXCLUSIVE
JURISDICTION OF THE NEW YORK COURTS.

     16. RSUs Subject to Plan. By entering into this Agreement, the Participant agrees and
acknowledges that the Participant has received and read a copy of the Plan. All RSUs are subject to
the Plan. In the event of a conflict between any term or provision contained herein and a term or
provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

     17. Rule 16b-3. The grant of the RSUs to the Participant hereunder is intended to be exempt
from the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended from time
to time (the “Exchange Act”) pursuant to Rule 16b-3 promulgated under the Exchange Act.

     18. Signature in Counterparts. This Agreement may be signed in counterparts, each of which
shall be deemed an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.

     19. Entire Agreement. This Agreement and the Plan constitute the entire agreement of the
parties and supersede in their entirety all prior undertakings and agreements of the parties with
respect to the subject matter hereof.

     20. Severability of Agreement. In the event that any provision in this Agreement shall be held
invalid or unenforceable, such provision shall be severable from, and such invalidity or
unenforceability shall not be construed to have any effect on, the remaining provisions of this
Agreement.

     21. Administration; Consent. In order to manage compliance with the terms of this Agreement,
Common Shares delivered pursuant to the Agreement may, at the sole discretion of the Company, be
registered in the name of the nominee for the holder of the Common Shares and/or held in the
custody of a custodian until otherwise determined by the Company. To that end, by acceptance of
this Agreement, the holder hereby appoints the Company, with full power of substitution and
resubstitution, his or her true and lawful attorney-in-fact to assign, endorse and register for
transfer into such nominee’s name or deliver to such custodian any such Common Shares, granting to
such attorneys, and each of them, full power and authority to do and perform each and every act and
thing whatsoever that such attorney or attorneys may deem necessary, advisable or appropriate to
carry out fully the intent of this paragraph as such person might or could do personally. It is
understood and agreed by each holder of the Common Shares delivered under the

7

 

Agreement that this appointment, empowerment and authorization may be exercised by the
aforementioned persons with respect to all Common Shares delivered pursuant to the Agreement of
such holder, and held of record by another person or entity, for the period beginning on the date
hereof and ending on the later of the date the Agreement is terminated and the date that is ten
years following the last date Common Shares are delivered pursuant to this Agreement. The form of
the custody agreement and the identity of the custodian and/or nominee shall be as determined from
time to time by the Company in its sole discretion. A holder of Common Shares delivered pursuant to
the Agreement acknowledges and agrees that the Company may refuse to register the transfer of and
enter stop transfer orders against the transfer of such Common Shares except for transfers deemed
by it in its sole discretion to be in compliance with the terms of this Agreement. Each holder of
Common Shares delivered pursuant to the Agreement agrees to execute such additional documents and
take such other actions as may be deemed reasonably necessary or desirable by the Company to effect
the provisions of the Agreement, as in effect from time to time. Each holder of Common Shares
delivered pursuant to the Agreement acknowledges and agrees that the Company may impose a legend on
any document relating to or Common Shares issued or issuable pursuant to this Agreement
conspicuously referencing the restrictions applicable to such Common Shares.

     22. Section 409A. The RSUs granted hereunder shall not be deferred, paid out or
modified in a manner that would result in the imposition of a penalty tax on the Participant under
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). In the event that
it is reasonably determined by the Committee that, as a result of Section 409A, the Shares and/or
other payments in respect of the RSUs may not be delivered or paid at the time contemplated by the
terms of this Agreement and the Plan without causing the Participant to be subject to a penalty tax
under Section 409A, the Company will deliver such Shares (or make such payments) on the first day
that would not result in the Participant incurring any tax liability under Section 409A.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date
set forth above.

	 	 	 	 	 	 	 	 
	 	 	ACCENTURE LTD
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Douglas G. Scrivner
	 

	 	 	 	Title:
	 	General Counsel and Secretary
	 
	 	 	 	 	 	 
	 	 	PARTICIPANT
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Address:	 	 
	 

	 	 	 	 	 	 

8

 

EXHIBIT 1-A

Determination of RSU Vesting pursuant to Section 1(c) of the Agreement

	1.	 	Determine Percentile Rank (PR) for each of the Comparison Companies in accordance with the
following formula:

PR = (PB/N)(100)

Where:

     PB = ordinal position from the lowest TSR among the Comparison Companies. The Comparison
Company with the lowest TSR is the first position from the bottom.

     N = number of Comparison Companies in the computation.

	2.	 	After determining and ordering the PR for each Comparison Company, if the TSR of the Company
is equal to the TSR of any other Comparison Company (rounded to the nearest 0.01), then the
Company’s PR shall equal the PR of such Comparison Company. If the Company’s TSR is not equal
to the TSR of any other Comparison Company, then the Company’s PR shall be determined by
interpolation, using the TSRs and PRs of the Comparison Companies having the next highest and
next lowest TSRs in comparison to the Company’s TSR. If there is no Comparison Company with a
TSR that is higher than the Company’s TSR, then the Company’s PR shall be 100. If there is no
Comparison Company with a TSR that is lower than the Company’s TSR, then the Company’s PR
shall be equal to the PR of the lowest ranked Comparison Company.
	 
	3.	 	Upon determining the PR of the Company, the percentage of maximum RSUs granted under the
Agreement that vest shall be determined as follows:

	 	 	 	 	 	 	 
	 	 	Company PR	 	Percentage of maximum RSUs granted
	Performance level	 	(measured as a percentile)	 	under the Agreement that vest
	Maximum
	 	The Company is ranked at or above the 75th
percentile.

	 	 	25	%
	Target
	 	The Company is ranked at the 60th
percentile.

	 	 	16.67	%
	Threshold
	 	The Company is ranked at the 40th
percentile.

	 	 	8.33	%
	 	 	The Company is ranked below the 40th
percentile.

	 	 	0	%

     Performance Between Threshold and Target. If the Company’s Percentile Rank is between
“Threshold” and “Target,” the percentage of the maximum RSUs granted to the Participant under the
Agreement that shall vest pursuant to Section 1(c) of the Agreement shall equal (a) 8.33% of the
RSUs granted under the Agreement plus (b) an additional percentage of the maximum RSUs granted to
the Participant under the Agreement, which percentage shall be determined in accordance with the
following formula:

(PR — 40) x 8.34

20

     where, PR equals the Percentile Rank of the Company, as determined above.

     Performance Between Target and Maximum. If the Company’s Percentile Rank is between
“Target” and “Maximum,” the percentage of the RSUs granted to the Participant under the Agreement
that shall vest pursuant to Section 1(c) of the Agreement shall equal (a) 16.67% of the RSUs
granted under the Agreement plus (b) an additional percentage, not to exceed 8.33%, of the maximum
RSUs granted to the Participant under the Agreement, which percentage shall be determined in
accordance with the following formula:

(PR — 60) x 8.33

15

where, PR equals the Percentile Rank of the Company, as determined above.

9

 

EXHIBIT 1-B

Determination of RSU Vesting pursuant to Section 1(d) of the Agreement

	1.	 	Determine the Company actual percentage of Target Cumulative Operating Income (“AP”) by
dividing the Company’s Actual Cumulative Operating Income by the Target Cumulative Operating
Income and expressing the result as a percentage (the resulting percentage being referred to
as the “Performance Rate” or “PR”).
	 
	2.	 	Upon determining the Company’s Performance Rate, the percentage of maximum RSUs granted under
the Agreement that vest shall be determined as follows:

	 	 	 	 	 	 	 
	 	 	 	 	Percentage of RSUs
	 	 	 	 	granted under the
	Performance level	 	Company’s Performance Rate	 	Agreement that vest
	Maximum
	 	125% or greater	 	 	75	%
	Target
	 	100%	 	 	50	%
	Threshold
	 	80%	 	 	25	%
	 
	 	Less than 80%	 	 	0	%

     Performance Between Threshold and Target. If the Company’s Performance Rate is between
“Threshold” and “Target,” the percentage of the maximum RSUs granted to the Participant under the
Agreement that shall vest pursuant to Section 1(d) of the Agreement shall equal (a) 25% of the
maximum RSUs granted under the Agreement, plus (b) an additional percentage of the maximum RSUs
granted to the Participant under the Agreement, which percentage shall be determined in accordance
with the following formula:

( PR — 80 ) x 1.25

 

where, PR equals the Company’s Performance Rate, as determined above.

     Performance Between Target and Maximum. If the Company’s Performance Rate is between “Target”
and “Maximum,” the percentage of the maximum RSUs granted to the Participant under the Agreement
that shall vest pursuant to Section 1(d) of the Agreement shall equal (a) 50% of the maximum RSUs
granted under the Agreement, plus (b) an additional percentage, not to exceed 25%, of the maximum
RSUs granted to the Participant under the Agreement, which percentage shall be determined in
accordance with the following formula:

( PR – 100 )

 

where, PR equals the Company’s Performance Rate, as determined above.

10

 

RSU Grant Agreement

This Restricted Share Unit grant is subject to the Essential Grant Terms as stated below and the
Terms and Conditions attached herein, which together constitute the Restricted Share Unit agreement
(the “Agreement”).

Essential Grant Terms

Participant:

Restricted Share Unit Award:

RSUs Awarded:

Award Date:

Vesting Schedule

	 	 	 
	Vest Date	 	RSUs Vesting
	 	 	 

Release Schedule

	 	 	 
	Release Date	 	RSU Shares to be Released
	 	 	 

Date:

                                                            

                Participant Signature

11

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