Document:

EX-10.39

 Exhibit 10.39 
 KORN/FERRY INTERNATIONAL 2008 STOCK INCENTIVE PLAN 
 NOTICE OF
RESTRICTED STOCK UNIT AWARD 
  

			
	Grantee’s Name and Office:	  	«First_Name» «Last_Name»
		  	«OFFICE»

 You have been granted Restricted Stock Units (the “Units” or individually a “Unit”)
of the Company (the “Award”), payable in shares of Common Stock of the Company (the “Shares”), subject to the terms and conditions of this Notice of Restricted Stock Unit Award (the “Notice”), the Korn/Ferry
International 2008 Stock Incentive Plan, as amended from time to time (the “Plan”) and the Restricted Stock Unit Award Agreement (the “Agreement”) attached hereto. Capitalized terms used in this Notice and not otherwise defined
shall have the same meanings as set forth in the Plan. 
  

			
	Date of Award	  	«Grant_Date»
		
	Vesting Commencement Date	  	«Grant_Date»
		
	Target Number of Units Awarded	  	«NUMBER_OF_SHARES_To_nearest_10» (target; up to two times target can become vested)

 Vesting Schedule: 
 Subject to the Grantee’s continued service with the Company and other limitations set forth in this Notice, the Agreement and the Plan, the Units will “vest” on the third anniversary of the
Vesting Commencement Date (the “Vest Date”): 
 Up to 200% of the Target Number of Units Awarded shall vest on the
third anniversary of the Vesting Commencement Date subject to Company performance against 3 year performance targets [for the three fiscal years ending April 30, 2014] as set by the Compensation Committee of the Board of Directors (please see
Exhibit B attached hereto)(the “Performance Targets”). The percentage of the Units that will become vested (subject to the Grantee’s continued Service through the Vest Date) shall be the percentage that corresponds to the
Company’s “Relative Ranking” and “Absolute 3-Year Average TSR” as shown in Exhibit B on the table having those headings. (For avoidance of doubt, the vesting percentage shall not exceed 100% unless (i) the
Company’s “Absolute 3-Year Average TSR” is greater than zero percent (0%), and (ii) the Company’s “Relative Ranking” is 7 or better.) 

  
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 In the event of the Grantee’s change in status from employee to consultant, the Grantee
shall continue to be eligible to vest in the Units (subject to satisfaction of the Performance Targets) only to the extent determined by the Committee as of such change in status. 

Upon the vesting of all or a portion of the Units, one Share shall be issuable for each Unit that vests on the Vest Date. The Grantee
shall not acquire or have any rights as a stockholder of the Company by virtue of this Agreement (or the Award evidenced hereby) until the Shares issuable pursuant to this Award are actually issued and delivered to the Grantee in accordance with the
terms of the Plan and the Agreement. No fractional Shares shall be issued with respect to the vesting of the Units. 
 Termination of
Employment; Forfeiture: 
 Vesting shall cease upon the date of termination of the Grantee’s continued service with the
Company for any reason, including death or Disability. Furthermore, the Units shall not become vested to the extent the Performance Targets are not satisfied. If the Grantee’s continued service with the Company terminates for any reason prior
to the Vest Date, whether or not the Performance Targets are satisfied, the Units shall be forfeited and no Shares shall be issued with respect to the Units. The foregoing forfeiture provisions set forth in this Notice as to unvested Units shall
also apply to the new capital stock or other property (including cash paid other than as a regular cash dividend) received in exchange for the unvested Units in consummation of any Change in Control and such stock or property shall be deemed
Additional Securities for purposes of the Agreement, but only to the extent the unvested Units are at the time covered by such forfeiture provisions. 
 IN WITNESS WHEREOF, the Company and the Grantee have executed this Notice and agree that the Award is to be governed by the terms and conditions of this Notice, the Plan, and the Agreement. 

 

			
	 Korn/Ferry International
 a Delaware corporation

		
	By:	 	/s/ Gary D. Burnison
		 	Gary D. Burnison
	Title:	 	Chief Executive Officer

  
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 THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE UNITS SHALL VEST, IF AT ALL, ONLY DURING THE PERIOD OF
GRANTEE’S CONTINUED SERVICE WITH THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OR ACQUIRING UNITS HEREUNDER). THE GRANTEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE, THE AGREEMENT, NOR IN THE PLAN,
SHALL CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO CONTINUATION OF GRANTEE’S SERVICE WITH THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH THE GRANTEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE GRANTEE’S SERVICE WITH THE
COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT UNLESS THE GRANTEE HAS A WRITTEN EMPLOYMENT AGREEMENT WITH THE COMPANY TO THE CONTRARY, GRANTEE’S STATUS IS AT WILL. 

  
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 The Grantee acknowledges receipt of a copy of the Plan and the Agreement and represents that
he or she is familiar with the terms and provisions thereof, and hereby accepts the Award subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this Notice, the Agreement and the Plan in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Notice and fully understands all provisions of this Notice, the Agreement and the Plan. The Grantee hereby agrees that all disputes arising out of or relating to this Notice, the
Plan and the Agreement shall be resolved in accordance with Section 23 of the Plan. The Grantee further agrees to notify the Company upon any change in the residence address indicated in this Notice. 

 

									
					
	Dated:	 	 	 		 	Signed:	 	 

  
 5 

 KORN/FERRY INTERNATIONAL 2008 STOCK INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 
 1. Issuance of Units. Korn/Ferry International, a Delaware corporation (the “Company”), hereby awards to the Grantee (the “Grantee”) named in the Notice of Restricted Stock Unit
Award (the “Notice”), the Total Number of Restricted Stock Units (the “Units” or individually a “Unit”) payable in shares of Common Stock of the Company (the “Shares”) as set forth in the Notice, subject to
the Notice, this Restricted Stock Unit Award Agreement (this “Agreement”) and the terms and provisions of the Company’s 2008 Stock Incentive Plan, as amended from time to time (the “Plan”), which is incorporated herein by
reference. Capitalized terms used in this Agreement and not otherwise defined in this Agreement or the Notice, shall have the same meanings as set forth in the Plan. 
 2. Consideration. The Units have been issued to the Grantee principally for past services and in consideration for past services and continued service with the Company. 

3. Transfer Restrictions. Except as expressly provided in Section 14 of the Plan, the Units issued to the Grantee hereunder,
and the Shares subject thereto (and any right or interest therein), may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee prior to the issuance of Shares pursuant to Section 6. Any attempt to
transfer Units or Shares in violation of this Section 3 will be null and void and will be disregarded. 
 4. Termination
of Employment; Forfeiture. Vesting shall cease upon the date of termination of the Grantee’s continued service with the Company for any reason, including death or Disability. If the Grantee’s continued service with the Company
terminates for any reason prior to the Vest Date, the Units shall be forfeited and no Shares shall be issued with respect to the Units. The foregoing forfeiture provisions set forth in this Agreement as to unvested Units shall also apply to the new
capital stock or other property (including cash paid other than as a regular cash dividend) received in exchange for the unvested Units in consummation of any Change in Control and such stock or property shall be deemed Additional Securities for
purposes of this Agreement, but only to the extent the unvested Units are at the time covered by such forfeiture provisions. 

5. Dividend and Voting Rights. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting
rights, with respect to the Units and any Shares underlying or issuable in respect of such Units until such Shares are actually issued to and held of record by the Grantee. No adjustments will be made for dividends or other rights of a holder for
which the record date is prior to the date of issuance of the Shares. 
 6. Timing and Type of Payment. The Company shall
issue to the Grantee one Share for each Unit that vests. Such stock issuance shall occur on a payment date determined by the Company (the “Payment Date”) that is within 10 business days following the Vest Date. 

7. Withholding of Taxes. The Grantee shall, as Units shall vest or at the time withholding is otherwise required by any applicable
provisions of federal or state law, pay the Company the amount necessary to satisfy any applicable foreign, federal, state, and local income and employment tax withholding obligations. At the time the Grantee’s Award is granted, or at

  
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any time thereafter as requested by the Company, the Grantee hereby authorizes, to the fullest extent not prohibited by applicable law, withholding from payroll and any other amounts payable to
the Grantee, and otherwise agrees to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company, if any, which arise in connection with the Award. 

8. Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Award,
the Grantee acknowledges that: (i) the Grantee’s participation in the Plan is voluntary; (ii) the value of the Award is an extraordinary item which is outside the scope of any employment contract with the Grantee; (iii) the Award
is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement
benefits or similar payments, and the Grantee will not be entitled to compensation or damages as a consequence of the Grantee’s forfeiture of any unvested portion of the Award as a result of the Grantee’s termination of service with the
Company for any reason; and (iv) in the event that the Grantee is not a direct employee of Company, the grant of the Award will not be interpreted to form an employment relationship with the Company and the grant of the Award will not be
interpreted to form an employment contract with the Grantee’s employer or the Company. The Company shall be under no obligation whatsoever to advise the Grantee of the existence, maturity or termination of any of the Grantee’s rights
hereunder and the Grantee shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Grantee’s rights or privileges hereunder. 

9. Company Authority. Any question concerning the interpretation of this Agreement, the Notice or the Plan, any adjustments
required to be made under the Plan, and any controversy that may arise under the Plan or this Agreement shall be determined by the Company (including any person(s) to whom the Company has delegated its authority) in its sole and absolute discretion.
Such decision by the Company shall be final and binding. 
 10. Undertaking. The Grantee hereby agrees to take whatever
additional action and execute whatever additional documents the Company may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either the Grantee or the Grantee’s interest
pursuant to the express provisions of this Agreement. 
 11. Entire Agreement: Governing Law. The Notice, the Plan and
this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof,
and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company and the Grantee. These agreements are to be construed in accordance with and governed by the internal laws of the State of Delaware
without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the parties. Should any provision of the Notice or
this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable. 

  
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 12. Successors and Assigns. The provisions of this Agreement will inure to the
benefit of, and be binding on, the Company and its successors and assigns and the Grantee and the Grantee’s legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person will
have become a party to this Agreement and agreed in writing to join herein and be bound by the terms and conditions hereof. 

13. Securities Law Compliance. The Company is under no obligation to register for resale the Shares, whether vested or unvested.
The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by the Grantee or other subsequent transfers by the Grantee of any Shares issued hereunder, including without
limitation (a) restrictions under an insider trading policy, (b) restrictions that may be necessary in the absence of an effective registration statement under the Securities Act of 1933, as amended, covering the Award and/or the Shares
and (c) restrictions as to the use of a specified brokerage firm or other agent for such resales or other transfers. Any sale of the Shares must also comply with other applicable laws and regulations governing the sale of such Shares.

 14. Confidential Information. As partial consideration for the granting of the Award, the Grantee agrees that he or
she will keep confidential all information and knowledge that the Grantee has relating to the manner and amount of his or her participation in the Plan; provided, however, that such information may be disclosed as required by law and may be given in
confidence to the Grantee’s spouse, tax and financial advisors, or to a financial institution to the extent that such information is necessary to secure a loan. 
 15. Headings. The captions used in this Agreement are inserted for convenience and shall not be deemed a part of this Agreement for construction or interpretation. 

16. Application of the Plan. The terms of this Agreement are governed by the terms of the Plan, as it exists on the date of hereof
and as the Plan is amended from time to time. In the event of any conflict between the provisions of this Agreement and the provisions of the Plan, the terms of the Plan shall control, except as expressly stated otherwise herein. 

17. Dispute Resolution. The provisions of this Section 17 shall be the exclusive means of resolving disputes arising out of
or relating to the Notice, the Plan and this Agreement. The Company, the Grantee, and the Grantee’s assignees (the “parties”) shall attempt in good faith to resolve any disputes arising out of or relating to the Notice, the Plan and
this Agreement by negotiation between individuals who have authority to settle the controversy. Negotiations shall be commenced by either party by notice of a written statement of the party’s position and the name and title of the individual
who will represent the party. Within thirty (30) days of the written notification, the parties shall meet at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary, to resolve the dispute. If the dispute
has not been resolved by negotiation, the parties agree that any suit, action, or proceeding arising out of or relating to the Notice, the Plan or this Agreement shall be brought in the United States District Court for the Central District of
California (or should such court lack jurisdiction to hear such action, suit or proceeding, in a California state court in the County of Los Angeles) and that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive,
to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. THE PARTIES ALSO EXPRESSLY WAIVE 

  
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ANY RIGHT THEY HAVE OR MAY HAVE TO A JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions of this Section 17 shall for any reason be held invalid or
unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable. 

18. Notices. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon
personal delivery or upon deposit in the United States mail by certified mail (if the parties are within the United States) or upon deposit for delivery by an internationally recognized express mail courier service (for international delivery of
notice), with postage and fees prepaid, addressed to the other party at its address as shown beneath its signature in the Notice, or to such other address as such party may designate in writing from time to time to the other party. 

  
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 EXHIBIT A 
 CONSENT OF SPOUSE 
 In consideration of the execution of the foregoing
Restricted Stock Unit Award Agreement by Korn/Ferry International, the undersigned, the spouse of , the Participant named therein, does hereby agree to be bound by all of the terms and provisions thereof, the terms and conditions attached thereto,
and those set forth in the Plan. 
  

					
			
	 	 		 	 
	Signature of Spouse	 		 	Date

  

	
	
	 
	Print Spouse’s Name

 [DECLARATION BELOW TO BE COMPLETED BY UNMARRIED INDIVIDUALS] 

I,
                                        
                                        ,
the undersigned, hereby declare that I am not married as of the date hereof. 
  

							
			
	 	 		 	 
				
	Name:	 	 	 		 	Date:

  
 1 

 EXHIBIT B 

TOTAL SHAREHOLDER RETURN PERFORMANCE TARGETS 
 Performance Shares 
 The actual number of shares earned at the end of the 3- year
performance period will range from 0% to 200% of the target opportunity depending on Korn/Ferry’s total shareholder return (“TSR”) relative to a 16 company peer group. (see Table 1 below) 

Table 1: 
  

					
	 Relative Ranking*
	  	Payout as %	 
	  	  	of Target	 
	 1
	  	 	200	% 
	 2
	  	 	185	% 
	 3
	  	 	170	% 
	 4
	  	 	155	% 
	 5
	  	 	140	% 
	 6
	  	 	125	% 
	 7
	  	 	110	% 
	 8 (Target)
	  	 	100	% 
	 9
	  	 	85	% 
	 10
	  	 	70	% 
	 11
	  	 	55	% 
	 12
	  	 	40	% 
	 13
	  	 	25	% 
	 14 (Threshold)
	  	 	10	% 
	 15
	  	 	0	% 
	 16
	  	 	0	% 

 TSR will be calculated as a straight 3-year average over the performance period, and will reflect stock
price appreciation (plus the reinvestment of dividends for relevant companies.) In order to reduce volatility, each annual TSR measurement will start and end with the average closing stock price over a 20-trading day period. 

[Continued on the next page.] 

  
 2 

 Please note that if the average TSR for the 3 year period is less than 0% (i.e. negative) then the award may
be reduced pursuant to Table 2 below. 
  

															
	 	  	 3-Year Average TSR

	 Relative
Ranking
	  	-5% or
lower	 	-4%	 	-3%	 	-2%	 	-1%	 	0%	 	Greater
than
0%
	 1
	  	75%	 	80%	 	85%	 	90%	 	95%	 	100%	 	200%
	 2
	  	71.5%	 	76.5%	 	81.5%	 	86.5%	 	91.5%	 	96.5%	 	185%
	 3
	  	68%	 	73%	 	78%	 	83%	 	88%	 	93%	 	170%
	 4
	  	64.5%	 	69.5%	 	74.5%	 	79.5%	 	84.5%	 	89.5%	 	155%
	 5
	  	61%	 	66%	 	71%	 	76%	 	81%	 	86%	 	140%
	 6
	  	57.5%	 	62.5%	 	67.5%	 	72.5%	 	77.5%	 	82.5%	 	125%
	 7
	  	54%	 	59%	 	64%	 	69%	 	74%	 	79%	 	110%
	 8
	  	50%	 	55%	 	60%	 	65%	 	70%	 	75%	 	100%
	 9
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	85%
	 10
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	70%
	 11
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	55%
	 12
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	40%
	 13
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	25%
	 14
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	10%
	 15
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	0%
	 16
	  	0%	 	0%	 	0%	 	0%	 	0%	 	0%	 	0%

 The following is a list of members of our 16 company peer group: 

 

			
	 CBIZ, Inc
	  	Navigant Consulting, Inc.
	 FTI Consulting, Inc.
	  	Resources Connection, Inc.
	 Heidrick & Struggles International, Inc.
	  	Robert Half International Inc.
	 Huron Consulting Group Inc.
	  	SFN Group, Inc. (formerly Spherion)
	 ICF International, Inc.
	  	The Corporate Executive Board Company
	 Insperity, Inc.
	  	The Dun & Bradstreet Corporation
	 Kelly Services, Inc.
	  	Towers Watson & Co.
	 Kforce Inc.
	  	TrueBlue, Inc.

  
 3 

 KORN/FERRY INTERNATIONAL 

2008 STOCK INCENTIVE PLAN 
 Beneficiary Designation 
 Name of Grantee of Restricted Stock Units: 

Address:                        
                                         
                                         
                                         
                                         

 Spouse’s
Name:                                        
                                         
                                         
                                         
              
 Date of Grant «Grant_Date». Number of
restricted stock units granted was (the “Grant”). This Beneficiary Designation is intended to be effective with respect to all Restricted Stock Units granted to the undersigned except as designated by the undersigned with respect to
specific grants or by the filing of a later Beneficiary Designation form. 
 In the event of my death and in lieu of disposing
of my interest1 in the grant by my will or the laws of
intestate succession, I hereby designate the following persons as Primary Beneficiary(ies) and Contingent Beneficiary(ies) of my interest in the Grant (please attach additional sheets if necessary): 

 

	I	Primary Beneficiary(ies) (Select only one alternative, check box and complete as appropriate) 

							
				
		  	  ̈ (a) Individuals and/or Charities
	 		 	% Share
				
	 1
	  	Name
                                         
                                         
                                         
                                         
                                         
           	 		 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                         
  
				
	 2
	  	Name                            
                                         
                                         
                                         
                                         
                         	 		 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                         
  
				
	 3
	  	Name                            
                                         
                                         
                                         
                                         
                         	 		 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                         
  

  
  

	1 	A married grantee whose Grant is community property may dispose only of his or her own interest in the Grant. In such cases, the grantee’s spouse may designate the
grantee or any other person(s) as the beneficiary(ies) of his or her interest in the Grant on another Beneficiary Designation form. 

  
 4 

	
	      ̈ (b) Residuary Testamentary
Trust

	     In trust, to the trustee of the trust named as the beneficiary of the residue of my probate
estate.

  

	
	      ̈ (c) Living Trust

	
                  
                                         
                                         
                                         
            (or any successor), as Trustee of the
 (print name
of present trustee)

                  
                                         
                                         
                                     Trust, dated 
                                         
               

    (print name of
trust)                                        
                                         
                   (fill in date trust was established)

	

  

	II	Contingent Beneficiary(ies) (Select only one of the three alternatives) 

									
		  	 ̈ (a) Individuals and/or Charities	  		  	 	% Share	  
				
	 1
	  	Name                            
                                         
                                         
                                         
                                         
                	  		  	 	 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                      	  
				
	 2
	  	Name                            
                                         
                                         
                                         
                                         
                	  		  	 	 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                      	  
				
	 3
	  	Name                            
                                         
                                         
                                         
                                         
                	  		  	 	 	 
		
		  	Address                          
                                         
                                         
                                         
                                         
                                      	  

      ̈ (b) Residuary Testamentary Trust

     In trust, to the trustee of the trust named as the beneficiary of the residue of my
probate estate. 

  
 5 

  ̈ (c)
Living Trust 

                   
                                         
                                         
                        (or any successor), as Trustee of the 

                   
     (print name of present trustee) 

                   
                                         
                                         
                    Trust, dated              

	
	
	 

                   
     (print name of
trust)                                        
                                         
   (fill in date trust was established) 
 Should all the individual Primary Beneficiary(ies) fail to survive
me or if the trust named as the Primary Beneficiary does not exist at my death (or no will of mine containing a residuary trust is admitted to probate within six months of my death), the Contingent Beneficiary(ies) shall be entitled to my interest
in the Grant in the shares indicated. Should any individual beneficiary fail to survive me or a charity named as a beneficiary no longer exists at my death, such beneficiary’s share shall be divided among the remaining named Primary or
Contingent Beneficiaries, as appropriate, in proportion to the percentage shares I have allocated to them. This Beneficiary Designation is effective until I file another such designation with Korn/Ferry International. Any previous Beneficiary
Designations are hereby revoked. 
  

							
	 Submitted by: (Check box and sign as applicable)
	 		 	Accepted by:
			
	  ̈ Grantee
     ̈ Grantee’s Spouse
	 		 	KORN/FERRY INTERNATIONAL
				
	 	 		 	By:	 	 
				
	 (Signature)
	 		 	Its:	 	 
				
	
Date:                       
                                         
                                         
  
	 		 	Date:	 	 
				
	 	 		 		 	
	 (Signature)
	 		 		 	
	
Date:                       
                                         
                                         
  
	 		 		 	

  
 6EX-10.40

 EXHIBIT 10.40 
 December 4, 2012 
 PERSONAL AND CONFIDENTIAL 

R.J. Heckman, Ph.D. 
 18731 Melrose Chase

 Eden Prairie, MN 55347-3483 
 Dear
R.J.: 
 We are delighted to extend to you this offer of employment. The purpose of this offer letter (referred to herein as this
“Offer Letter”) is to confirm the terms of your employment, including your responsibilities, reporting relationships, compensation, employee benefits, and professional requirements. 

This Offer Letter is being entered into in connection with that certain Agreement and Plan of Merger dated December 5, 2012 (the
“Merger Agreement”) between Personnel Decisions International Corporation, a Delaware corporation (the “Company”), the stockholders of the Company (the “Stockholders”), PDI Stockholder Representative LLC, a Delaware
limited liability company, Korn/Ferry International, a Delaware corporation (“Korn/Ferry”), and Unity Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Korn/Ferry (“Merger Sub”). Pursuant to the Merger Agreement,
Merger Sub shall be merged with and into the Company (the “Merger”), and the Company, together with all of its business and the goodwill of its business, will be the surviving entity in such Merger and a wholly-owned subsidiary of
Korn/Ferry. 
 Effectiveness of Offer and Commencement Date 
 Written acceptance of this offer of employment must be received on or before December 31, 2012, or this offer of employment becomes automatically withdrawn and of no further force or effect. This
offer of employment is contingent upon the receipt by the Company of results of certain employee information verifications, which may include education, employment, criminal background, and/or credit checks, satisfactory to the Company in its sole
and absolute discretion. 
 In addition, this offer of employment is subject to and conditioned upon the consummation of the
Merger (the “Transaction”). The extension of this offer of employment does not create any promise or assurance, express or implied, that the Transaction will take place, and neither the Company nor Korn/Ferry shall have any liability or
responsibility to you, directly or indirectly, if for any reason the Transaction does not occur. If for any reason the Transaction is not consummated on or before December 31, 2012, then this offer of employment becomes automatically withdrawn
and be of no further force or effect. 
 This offer letter shall become effective automatically upon consummation of the
Transaction (the “Closing”) and the commencement date of your employment with the Company shall be the first day following the date on which the Closing occurs (“Commencement Date”). 

Upon your written acceptance of this offer letter as evidenced by your signature below, and upon the occurrence of the Commencement Date,
this offer letter and those documents 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 2
 
  

 
expressly referred to herein shall embody the complete agreement and understanding between you and the Company regarding the terms and conditions of your employment. Upon the Closing, all prior
offer letters or employment agreements between you and the Company, whether written or oral, are automatically terminated and of no further force or effect, without any liability to the Company or Korn/Ferry, and any and all rights and remedies,
either at law or in equity, or under the express terms of such prior offer letters or employment agreements, which you may have had thereunder arising prior to or in connection with such termination are automatically discharged and waived in their
entirety. 
 Position and Title; Location; Duties and Responsibilities; Reporting Relationships 

Upon the Commencement Date, you will be the Chief Executive Officer of the Company. You will be located in the principal office of the
Company in Minneapolis, Minnesota, and you will report to the Board of Directors of the Company. You will also be an Executive Vice President of Korn/Ferry; provided, however, that your benefits will be those provided by the Company not Korn/Ferry
and your employer of record will be the Company. 
 Your primary duties and responsibilities will consist of such reasonable and
customary duties and responsibilities of a chief executive officer of a company similar to the Company, after giving effect to the consummation of the Merger. Without limiting the generality of the foregoing, your duties and responsibilities shall
include (a) increasing the scale and growing the leadership business of Korn/Ferry to be the most globally relevant leadership business in the world; (b) accelerating the growth of the Company generally; (c) leading and implementing
the effort to extract the agreed upon Net Cost Synergies as set forth in the Merger Agreement while the business of the Company is operated separately; (d) develop and design the integration process and methodology for the combination and
integration of the Company and the Leadership & Talent Consulting division of Korn/Ferry and work the integration committee to effect such combination, with the goal of creating a $500M leadership business; and (e) take a leadership
role in designing, developing and implementing the strategic agenda of the leadership business of Korn/Ferry. 
 In addition to
the foregoing, you shall have such other duties and responsibilities as may be assigned to you from time to time by the Board of Directors of the Company, so long as they are commensurate in title, scope and authority as your primary duties and
responsibilities as the Chief Executive Officer of the Company. 
 Compensation 

Monthly Base Salary 
 You shall receive a monthly base salary of $33,333.33 payable in semi-monthly increments on the Company’s regular payroll dates. 

Annual Incentive Awards 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 3
 
  

 You will be eligible to receive a discretionary annual incentive award in an amount up
to $800,000, consisting of cash and long-term incentive awards, with a combined target for annual cash bonuses and long-term incentive awards of $400,000. This target does not constitute either a minimum or maximum. Long-term incentive awards may be
cash or non-cash long-term incentive awards. 
 The amount of any annual incentive award will be determined by the Board of
Directors of the Company and may be subject to the approval of the Compensation Committee of Korn/Ferry. The amount of any annual incentive award is dependent upon Korn/Ferry’s overall performance, the performance of the Leadership &
Talent Consulting segment of Korn/Ferry, the performance of the Company, your individual performance, and a favorable assessment being made as to your overall contribution to the Company. 

All annual incentive award payments made to you will be subject to required tax withholdings and deductions. 

Annual incentive awards are awarded and paid within a reasonable time following the close of the Company’s fiscal year. Even if you
would otherwise be entitled to an annual incentive award, you shall not be deemed to have earned any such award unless you meet or exceed the other performance thresholds established for similarly situated employees relating to bonus compensation
(e.g. a Good or Exceptional rating on the Values scale of the Nine-Box appraisal system or similar appraisal system) with respect to the applicable fiscal year and you remain an active and full-time employee in good standing through the end of the
applicable fiscal year and through the date on which such annual incentive award is scheduled to be paid to you. If your employment schedule or responsibilities diminish during a given fiscal year, your award may be adjusted accordingly. 

The long-term non-cash incentive award portion of any annual incentive award will be granted pursuant to Korn/Ferry’s Seconded
Amended and Restated 2008 Stock Incentive Plan, as amended from time to time (the “PAP”) in the form of a grant of options to purchase shares of Korn/Ferry common stock (“Bonus Stock Options”), or shares of Korn/Ferry restricted
common stock (“Bonus Restricted Shares”), or in the form of ECAP contributions or other non-cash benefits provided for in the PAP. The value of the Bonus Stock Options and/or Bonus Restricted Shares to be granted or issued will be based
upon a Black-Scholes valuation consistent with Korn/Ferry’s valuation methodology generally. 
 Since
your Commencement Date will be a date other than the first day of the Company’s and Korn/Ferry’s fiscal year, your first annual incentive award will be pro-rated based upon the number of calendar months between the Commencement Date and
April 30, 2013. For example, if the Commencement Date is January 1, 2013, you shall receive one-third of any annual incentive award that would otherwise be granted to you with respect to the fiscal year ending on April 30, 2013.
Thereafter, your annual incentive awards will be in respect of the fiscal years beginning on May 1st and ending on April 30th. 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 4
 
  

 Notwithstanding the above, the Company has agreed to pay you a minimum guaranteed
incentive award in the aggregate amount of $266,666.67 in cash (“Minimum Guaranteed Award”). This Minimum Guaranteed Award shall be for the period beginning on the Commencement Date and ending on April 30, 2014. The portion of the
Minimum Guaranteed Award payable in respect of the period from the Commencement Date through April 30, 2013 is $66,666.67. The portion of the Minimum Guaranteed Award payable with respect to the fiscal year May 1, 2013 through
April 30, 2014 is $200,000. The portion of the Minimum Guaranteed Award payable with respect to the period from the Commencement Date through April 30, 2013 shall constitute a credit against and otherwise reduce the amount of any annual
incentive award otherwise granted to you with respect to such period. The portion of the Minimum Guaranteed Award payable with respect to the period May 1, 2013 through April 30, 2104 shall constitute a credit against and otherwise reduce
the amount of the annual incentive award otherwise payable to you with respect to such period. The Minimum Guaranteed Award shall be payable in equal installments over the relative periods on the Company’s regular payroll dates. 

Sign-On Restricted Common Stock. 
 You shall be issued an aggregate of Four Hundred Thousand Dollars ($400,000.00) worth of shares of the restricted common stock of Korn/Ferry (“Restricted Shares”), with the number of Restricted
Shares to be based upon the closing price of Korn/Ferry’s common stock on the New York Stock Exchange on the Commencement Date. The Restricted Shares will be “restricted shares” awarded pursuant to the PAP, and subject to the terms
and conditions set forth therein. The Restricted Shares will vest in four equal installments on the 1st, 2nd, 3rd and 4th anniversaries of the date of grant. No pro rata portions of such award may be earned. The Restricted Shares will have such
other terms and conditions as may be specified in the Notice of Restricted Stock Award. 
 Benefits 

You shall be eligible for all benefits and employee benefit programs offered from time to time by the Company to its senior executives
generally. 
 “At-Will” Nature of Employment; Termination 

You understand that your employment with the Company is an employment “at will” and this arrangement may be altered only in
writing upon the written approval of the Board of Directors of the Company. The “at will” nature of your employment means that either you or the Company may terminate your employment at any time, with or without cause or reason or notice.

 In addition, your employment with the Company may also be terminated as follows: 

Termination by Reason of Death. Your employment shall automatically terminate on the date of your death. 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 5
 
  

 Termination by Reason of Disability. To the extent permitted by applicable law,
the Company shall have the right to terminate your employment hereunder in the event of your “Disability.” The term “Disability” means any medically determinable physical or mental condition or impairment which renders or has
rendered you substantially unable to perform your duties and responsibilities under this Offer Letter for one hundred and twenty (120) days or more during any given 12-month period during the Term. The effective date of your termination of
employment pursuant to this Paragraph shall be such date after the one hundred and twentieth (120th) day specified above that the Company specifies in a written notice delivered to you. Such “Disability” shall be determined by a
medical doctor mutually agreed upon by you and the Company and if we cannot mutually agree upon a medical doctor within ten (10) days after the Company has given written notice to you nominating its medical doctor, then the medical doctors
selected by you and the Company shall select a third medical doctor who will make such determination. 
 Termination by
Company for Cause. The Company may terminate you immediately for “Cause” (as this term is defined below). The term “Cause” shall mean any one or more of the following events, conditions or circumstances: (i) your
conviction of any felony or misdemeanor involving moral turpitude; or (ii) any plea of nolo contendre entered by you or on your behalf to any felony or misdemeanor involving moral turpitude; or (iii) any conduct on your part which
constitutes fraud, willful misconduct or gross negligence, or any misappropriation of Company funds or embezzlement, or any breach of fiduciary duty by you towards the Company or Korn/Ferry; or (iv) any breach by you of any material provision
of this Offer Letter or the “Agreement to Protect Confidential Information” referred to below, which, if capable of being cured, is not cured within ten (10) days after receipt of written notice of such breach from the Company that
sets forth in reasonable detail the nature of such breach; or (v) any material breach or material violation by you of any Company or Korn/Ferry written policy regarding ethics, code of business conduct, sexual harassment, workplace safety, or
workplace discrimination, which, if capable of being cured, is not cured within ten (10) days after receipt of written notice of such breach or violation from the Company that sets forth in reasonable detail the nature of such breach or
violation; or (vi) any misrepresentation by you of any material fact in your resume, or in the Employment Education and History Form, or in any other new hire paperwork or other employment-related questionnaires, or any omission to state a
material fact in such resume, Employment Education and History Form, new hire paperwork or questionnaires; or (vii) any willful or knowing failure or willful or knowing refusal to perform your duties under this Offer Letter if such failure or
refusal is not cured within ten (10) days after receipt of written notice of such failure or refusal from the Company that sets forth in reasonable detail the nature of such failure or refusal; or (viii) any habitual failure to perform
your duties under this Offer Letter if such failure is not cured within ten (10) days after receipt of written notice of such failure from the Company that sets forth in reasonable detail the nature of such failure. 

Entitlements Upon Termination. 
 In General. Except as otherwise expressly provided in this Offer Letter, all compensation otherwise payable to you under this Offer Letter shall cease to accrue upon

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 6
 
  

 
termination of your employment for any reason, including, without limitation, by reason of your voluntary resignation and your entitlements under applicable plans and programs of the Company
following termination of your employment will be determined under the terms of those plans and programs. As of the date of termination of your employment, the Company shall pay to you all “Accrued Compensation” (as this term is defined
below), and you shall be reimbursed for any legitimate business expenses incurred prior to the date of termination of your employment and not previously reimbursed. For purposes of this Agreement, the term “Accrued Compensation” means, as
of any date, the amount of any unpaid base salary earned by you through the date of termination of your employment and the amount of any unpaid annual incentive award earned by you through the termination date and through the date of payment or
grant, plus any additional amounts and/or benefits payable to you under and in accordance with the provisions of any employee plan, program or arrangement under which you are covered immediately prior to the termination of your employment. In
addition, except as otherwise provided in this Offer Letter and the terms and conditions of any restricted stock purchase agreement or stock option agreement, upon termination of your employment by either the Company or you for any reason:
(a) any unvested restricted shares of Korn/Ferry’s common stock, including the Restricted Shares, will be forfeited; (b) any unvested options to purchase Korn/Ferry common stock held by you as of the date of termination will be
forfeited; (c) vested options held by you as of the date of termination may be exercised within 30 days after the termination date; (d) you will not be entitled to any severance; and (e) all of your unvested interests in the ECAP will
terminate and become forfeited. 
 Severance Upon Termination by Company Without Cause. If your employment with the
Company is terminated by the Company Without Cause prior to the third (3rd) anniversary of the Commencement Date, then, in addition to the amounts provided for above, the Company shall pay you, as severance, an amount equal to your monthly base
salary for the period beginning on the date of termination of employment and ending on the third (3rd) anniversary of the Commencement Date (“Severance Period”), so long as you otherwise remain in compliance with your obligations
under this Offer Letter during the Severance Period. Such severance shall be payable in accordance with the Company’s regular payroll practices, and shall be subject to reduction for any compensation received by you from any other employment
you engage in after the date of such termination. 
 Severance Agreement. Any entitlement to severance under this Offer
Letter by reason of the termination of your employment by the Company without Cause prior to the third (3rd) anniversary of the Commencement Date as provided above shall be subject to and conditioned upon the execution and delivery by the
Company and you of a severance agreement (“Severance Agreement”), containing a general release by you of all known and unknown claims against the Company and Korn/Ferry, and their officers, directors, employees, stockholders, agents and
representatives, in form and substance mutually satisfactory to you and the Company. The Company will cause a draft of the Severance Agreement to be delivered to you following the date of termination of your employment by the Company without Cause.
If for any reason no such Severance Agreement is executed and delivered by the Company and you within thirty (30) days after the date of termination of your employment by the Company without Cause, then you

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
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shall not be entitled to any severance provided for in this Offer Letter or otherwise. 
 Non-Compete Payment Upon Termination of Employment by Employee. If you terminate your employment with the Company or otherwise voluntarily resign at any time prior to the third
(3rd) anniversary of the Commencement Date, then within (30) days after the date of such termination, the Company shall have the right to elect, in its sole discretion, by delivery of written notice to you, that the provisions set forth in
the section of this Offer Letter entitled “Restricted Covenants” shall not apply after the date of such termination (“Termination of Non-Compete Notice”). If for any reason the Company does not send you the Termination of
Non-Compete Notice within such thirty day period, then all of the provisions set forth in the section of this Offer Letter entitled “Restrictive Covenants” shall continue to apply in accordance with their terms after the date of such
termination. Whether or not the Company delivers a Termination of Non-Compete Notice to you, the Company shall pay you an amount equal to your monthly base salary for the period beginning on the date of such termination through the third
(3rd) anniversary of the Commencement Date (“Non-Compete Payment”), in accordance with the Company’s regular payroll practices, subject to required withholding and subject to reduction for any compensation received by you from
any other employment you engage in after the date of such termination. 
 Professional Requirements 

As part of your employment by the Company, we also ask that you provide a detailed description of your job history and educational
background. An Employment Education and History Form for this purpose is enclosed. The information you provide concerning past employment and educational history may be verified by the firm. Your employment is contingent on the accuracy of the
information you provide. 
 Pursuant to the Immigration and Nationality Act, our firm is required to verify the identity and
employment eligibility of all new hires. In order to comply with this legal obligation, we must complete an Employment Eligibility Verification Form I-9 within three days of hire. We have enclosed a Form I-9 for your review. Please note that you
will need to provide either (i) one document from “List A” or (ii) one document from “List B” and one document from “List C” of the form (see page two of the enclosed Form I-9). If you anticipate
having difficulty completing the Form I-9 or producing the required documents, please contact me. 
 Further, all employees of
Korn/Ferry and its subsidiaries, such as the Company, are required to review and acknowledge the firm’s Code of Business Conduct, Code of Business Conduct and Ethics, Non-Harassment and Non-Discrimination Policy, Policy Statement Prohibiting
Payments to Foreign Government Agencies and Officials, Political Parties, Leaders and Candidates, and False Entries in Books and Records, and the Agreement To Protect Confidential Information which govern all aspects of our professional practice.
Copies of such Codes and Policies, and an execution version of the Agreement To Protect Confidential Information, are enclosed. Your employment is contingent on your abiding by the provisions of these documents. Please review the Codes and Policies
carefully and return the signed 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 8
 
  

 
acknowledgment forms with your acceptance of this offer. Please review the Agreement To Protect Confidential Information carefully and return a fully executed original of such Agreement with your
acceptance of this offer. Please keep the Codes and Policies, as well as a copy of the Agreement To Protect Confidential Information, for your personal files. 
 Should you accept this Offer Letter, for so long as you are employed by the Company, you agree to (a) devote your full business time to the business and the affairs of the Company, (b) perform
your duties diligently, to the best of your ability and at a level of competency and effectiveness consistent with the position occupied, and to do nothing which would be detrimental to the best interests of the Company or any Affiliate of the
Company, (c) use your best efforts, skill, and ability to promote the interests of the Company and all Affiliates of the Company, and (d) adhere to the policies and procedures of Korn/Ferry which are applicable to the Company of which you
are informed, from time to time, in writing (including, without limitation, by email). 
 Restrictive Covenants. 

a. Preamble. You acknowledge that this Offer Letter, including, without limitation, the provisions of this section entitled
“Restrictive Covenants” are a material inducement to Korn/Ferry entering into the Merger Agreement and consummating the acquisition of the Company and its business pursuant to such Merger Agreement and Korn/Ferry would not have entered
into the Merger Agreement or consummated the Merger without your execution and delivery of this Offer Letter and the inclusions of the provisions of this section entitled “Restrictive Covenants”. Further, you acknowledge and agree that the
provisions set forth in this section entitled “Restrictive Covenants” are reasonable in terms of their substantive scope, geographic and temporal restrictions, and such Restrictive Covenants are necessary in order for the Company and
Korn/Ferry to protect the business of the Company and the goodwill of the business of the Company being acquired by Korn/Ferry in connection with the Merger. 
 b. Certain Definitions 
 i. “Affiliate” of, or
person affiliated with, a specified person, is a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified. The term control (including the terms
controlling, controlled by and under common control with) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by
contract, or otherwise. 
 ii. The term “Client” means only those clients or former clients of the
Company and/or Korn/Ferry (including the Leadership & Talent Consulting division of Korn/Ferry) with respect to which or whom you, at any time during the three years preceding the date of termination or expiration of your employment with
the Company, either alone or in conjunction with others: (a) had contact with or (b) engaged in activities 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 9
 
  

 
or rendered services to on behalf of the Company and/or Korn/Ferry (including the Leadership & Talent Consulting division of Korn/Ferry). 

iii. “Competitive Services” means human capital resources consulting services relating to talent management and
development, including, without limitation (a) executive coaching, teambuilding and leadership development services, (b) the identification, recruitment and/or assessment of board, executive, management, technical and/or professional
personnel, (c) management assessment services, (c) the management and/or supervision of all of the foregoing activities for or on behalf of others. 
 iv. “Competitor” means any person, firm or entity, or any division, department or business unit of any person, firm or entity, rendering or providing in whole or in part any of the Competitive
Services, either for its own account or the account of others. The term “Competitor” includes any Affiliates of a Competitor. 
 v. The term “Employee” means any other employee, consultant, or provider of services to the Company and/or any Affiliate of the Company, whether an employee or independent contractor, who either
(a) was an employee, consultant or provider as of the date on which your full-time employment with the Company ends or (b) was an employee, consultant or provider at any time during the one (1) year period preceding the date on which
your full-time employment with the Company ends. 
 vi. “Non-Compete Restricted Period” means the
period beginning on the Commencement Date and ending on the third (3rd) anniversary of the Commencement Date. 
 vii. “Non-Solicitation Restricted Period” means the period beginning on the Commencement Date and ending on the third (3rd) anniversary of the Commencement Date. 

viii. “Territory” means only the geographic areas in which the Company conducts its business. 

c. Non-Compete 
 During the Non-Compete Restricted Period, whether or not you are employed by the Company, you will not and will cause each of your Affiliates not to, directly or indirectly, either alone or with others
(whether as an owner, director, officer, employee, proprietor, investor, lender, guarantor, consultant, independent contractor, partner, agent or otherwise), do or engage in or support any of the following business or activity: 

i. own or control a Competitor who offers or renders Competitive Services within the Territory; 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
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 ii. become a Competitor, or become an employee, independent contractor, manager, or
agent of any person, firm or entity who is a Competitor where all or a part of your duties or responsibilities will involve the rendition, management or supervision of Competitive Services within the Territory; 

iii. engage in or render any services which are Competitive Services within the Territory; or 

iv. solicit the trade or patronage of any Client with respect to the rendition of Competitive Services, or provide or render Competitive
Services to any Client, or otherwise accept any assignment or engagement from any Client which involves Competitive Services, and you shall not recommend, encourage, or induce any Client to cease its relationship with the Company or Korn/Ferry or
stop using the services of the Company or Korn/Ferry. 
 d. Non-Solicitation 

During the Non-Solicitation Restricted Period, you will not, directly or indirectly, either alone or with others (whether as an owner,
director, officer, employee, proprietor, investor, lender, guarantor, consultant, independent contractor, partner, agent or otherwise), on behalf of a Competitor or otherwise recruit, solicit or hire any Employee, or induce or encourage any Employee
to leave the employ or terminate or limit their business relationship with the Company or any Affiliate of the Company, or induce or encourage any Employee to provide Competitive Services for or on behalf of any Competitor. 

e. Injunctive Relief. You acknowledge that the restrictions in this paragraph entitled “Restrictive Covenants” are
reasonable and necessary in order to protect and maintain the proprietary and other legitimate business interests and good will of the Company, Korn/Ferry and their Affiliates, including, without limitation, the goodwill of the business of the
Company which Korn/Ferry is acquiring in connection with the consummation of the Merger. You further agree that the actual or threatened breach by you of such covenants would cause immediate, substantial, and irreparable harm to the Company,
Korn/Ferry and their Affiliates, for which the full extent of resulting injury would be impossible to calculate, and the Company and Korn/Ferry therefore will not have an adequate remedy at law. Accordingly, you agree that temporary and permanent
injunctive relief would be appropriate remedies against such breach, without bond or security, which is hereby waived by you; provided that nothing herein shall be construed as limiting any other legal or equitable remedies the Company and/or
Korn/Ferry might have. 
 f. Severability—Blue—Penciling. If one or more provisions of this section entitled
“Restrictive Covenants” are held to be illegal, overly broad, or otherwise unenforceable, it is the intention and desire of both parties to this Offer Letter that such illegal, overly broad, or otherwise unenforceable portion(s) shall be
amended (by blue-penciling or otherwise) as necessary to be enforced to the greatest extent possible or, if blue-penciling or similar procedures are not available, limited or excluded from this Offer Letter to the minimum extent required so

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 11
 
  

 
that the provisions of this section entitled “Restrictive Covenants” shall otherwise remain in full force and effect and enforceable in accordance with its terms. 

Application of Section 409A 
 This Offer Letter is intended to comply with Section 409A of the Internal Revenue Code, as amended (“Section 409A”), to the extent 409A is applicable, and installment payments are intended
to be treated as separate payments for Section 409A purposes. In addition, notwithstanding any inconsistent provision of this Offer Letter, to the extent the Company determines in good faith that (a) one or more of the payments or benefits
received or to be received by you pursuant to this Offer Letter in connection with your termination of employment would constitute deferred compensation subject to the rules of Section 409A, and (b) that you are a “specified
employee” under Section 409A, then only to the extent required to avoid the your incurrence of any additional tax or interest under Section 409A, such payment or benefit will be delayed until the date which is six (6) months
after your “separation from service” within the meaning of Section 409A. The Company and you agree to negotiate in good faith to reform any provisions of this Offer Letter to maintain to the maximum extent practicable the original
intent of the applicable provisions without violating the provisions of Section 409A, if the Company deems such reformation necessary or advisable pursuant to guidance under Section 409A to avoid the incurrence of any such interest and
penalties. Such reformation shall not result in a reduction of the aggregate amount of payments or benefits under this Offer Letter, nor the obligation of the Company to pay interest on any payments delayed for the purposes of avoiding a violation
of Section 409A. 
 Entire Agreement 
 This Offer Letter contains the entire agreement of the parties relating to its subject matter, and supersedes all prior or contemporaneous agreements, representations or understandings, whether written or
oral, with respect to the subject matter hereof. This Offer Letter may not be modified, changed or discharged in whole or in part, except by an agreement in writing signed by you, in your capacity as the employee, and by another person duly
authorized by the Board of Directors of the Company to execute any such modification, change or waiver on behalf of the Company. 

Authorization to Enter into Agreement and Related Matters 
 You represent and warrant that you are currently legally available to work for the Company, that you have the full legal right and authority to negotiate and accept this Offer Letter and to render the
services as required under this Offer Letter, and that by negotiating, accepting and signing this Offer Letter and rendering such services, you have not breached or violated and are not breaching or otherwise violating any contract or legal
obligation that you may owe to any third party. You further represent and warrant that you have not and will not breach or violate any contract or legal obligation owed to any third party, e.g., a fiduciary obligation owed to your current employer.
You understand that if for any reason any of the foregoing representations or warranties are untrue or inaccurate, or become untrue or inaccurate after your acceptance of this 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 12
 
  

 
Offer Letter, in any respect, then the Company will have the right to terminate your employment for “Cause”, in which event the Company will have no further obligations under this Offer
Letter and will have such other rights as may be available under applicable law. 
 You represent and warrant to the Company
that: (i) you have full legal capacity or the requisite authority and power to execute and deliver this Offer Letter; (ii) this Offer Letter is a valid and binding obligation of you enforceable in accordance with its terms, except as
enforcement thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to or affecting enforcement of creditors’ rights generally; (iii) you have executed this Offer
Letter voluntarily and without any duress or undue influence; (iv) you have read this Offer Letter, understand the terms and consequences of it and have had adequate time to think about this Offer Letter and discuss it with your own legal
counsel; and (v) you are fully aware of the legal and binding effect of this Agreement. 
 Governing Law 

This Offer Letter shall be governed by and construed in accordance with the laws of the State of Minnesota, without regard to its conflict
of laws. 
 Waiver of Jury Trial 
 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS OFFER LETTER OR ANY COURSE OF CONDUCT, COURSE OF DEALING, VERBAL OR WRITTEN STATEMENT OR ACTION OF ANY PARTY HERETO. 
 Acceptance
of Employment 
 In order to accept this offer of employment, please sign this Offer Letter in the spaces provided below and
return it to me, together with the following documents, completed and signed as indicated: 
  

	 	•	 	 Employment and Education History Form 

  

	 	•	 	 Code of Business Conduct: Acknowledgment Form 

  

	 	•	 	 Code of Business Conduct and Ethics: Acknowledgment Form 

 

	 	•	 	 Non-Harassment/Non-Discrimination Policy: Acknowledgment Form 

 

	 	•	 	 Policy Statement Prohibiting Payments to Foreign Government Agencies and Officials, Political Parties, Leaders and Candidates, and False Entries in
Books and Records: Acknowledgment Form 

  

	 	•	 	 Insider Trading Policy: Acknowledgment Form 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 13
 
  

	 	•	 	 Agreement To Protect Confidential Information (copy attached to this Offer Letter) 

 

	 	•	 	 Personnel Information Form: (Section A) 

  

	 	•	 	 Form I-9 

  

	 	•	 	 W-4 Form 

  

	 	•	 	 Employee Authorization for Automatic Deposits Form 

  

	 	•	 	 Business Travel and Expense Reporting: Acknowledgment Form 

 

	 	•	 	 Notice of Restricted Stock Award (copy attached to this Offer Letter) 

[Next Page Is Signature Page] 

 R. J. Heckman, Ph.D. 
 December 4, 2012 
  Page
 14
 
  

 [Signature Page] 

I look forward to your joining us and to your success with the Company. If you have any questions, please don’t hesitate to call me.

  

	
	Sincerely,
	
	PERSONNEL DECISIONS INTERNATIONAL CORPORATION
	
	 /s/ Lowell W Hellervik
 Name: Lowell W Hellervik
 Title: Chairman

  

					
	 ACCEPTED AND AGREED TO:
	 		 	
			
	 /s/ R.J. Heckman            
	 		 	 12/5/12

	 R.J. Heckman, Ph.D.
	 		 	Date

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