Document:

Employment Agreement dated December 23, 2002

Exhibit 10.30.1 
 
EMPLOYMENT AGREEMENT 
 
This Employment Agreement (“Agreement”) is made as of April 2, 2001 by and between Exult,
Inc. (the “Company”), and Michael F. Henn (“Executive”). 
 
The Company desires to employ Executive, and Executive desires to be employed by the Company, on the terms set forth herein. Therefore, the Company and Executive hereby agree as follows: 
 
1. Duties and Responsibilities. 
 
(a) Title and Reporting. Initially Executive shall
serve as a special advisor to the Company’s Chief Executive Officer (the “CEO”). Commencing not later than April 30, 2001, Executive shall serve as the Company’s Executive Vice President and Chief Financial Officer and
shall report to and perform the duties and responsibilities assigned to Executive by the CEO. 
 
(b) Duties. Executive’s duties as Executive Vice President and Chief Financial Officer will include management of and responsibility for the Company’s finances, accounting and
reporting, treasury, taxes, insurance, investor relations, and real estate facilities, and review, structuring and execution of the financial aspects of the Company’s mergers & acquisitions activity. The CEO, or such other person as may be
designated by the CEO, may also assign other duties and responsibilities to Executive that are reasonably related to the foregoing. 
 
(c) Location. Executive shall be based at the Company’s office located at the Corporate Headquarters at Irvine, California,
but Executive shall be required to travel to other geographic locations in connection with the performance of his executive duties. 
 
2. Cash Compensation. 
 
(a) Base Salary. Executive’s initial base salary shall be $300,000 per year payable in accordance with the Company’s
standard payroll policies. Executive’s base salary shall be subject to annual review by the Company, and may be increased or decreased in the Company’s discretion, provided that the Company will not decrease Executive’s base salary
more than once in any 365-day period. Decrease of Executive’s base salary as provided in the preceding sentence will not constitute a breach by the Company of this Agreement, but may trigger certain rights of Executive pursuant to a separate
written severance arrangement with the Company. 
 
(b) Incentive Compensation. Executive will be eligible to participate in incentive compensation programs established by the Company from time to time for its executive officers. The terms of any such incentive compensation
program and Executive’s participation therein will be subject to the discretion of the Company’s Board of Directors. Any bonus is intended to reward contribution to the Company’s performance over an entire fiscal year, and (unless
other commitments are made in writing to Executive) consequently will be paid only if Executive is employed and in good standing at the time of incentive compensation 

payments, which generally occurs within 45 days after the close of the Company’s fiscal year.
Incentive compensation determinations will be made in the Company’s sole discretion. 
 
(c) Withholding. The Company may deduct and withhold any and all applicable federal, state and local income and employment withholding taxes and any other amounts required to be deducted or
withheld by the Company under applicable statutes, regulations, ordinances or orders from the compensation payable to Executive in connection with Executive’s employment. 
 
3. Equity Compensation. 
 
(a) Original Options. Upon commencement of Executive’s employment, Exult will issue to Executive
options to purchase 500,000 shares of Exult common stock (the “Original Options”). 
 
(b) Contingent Options. In addition, Executive will be eligible for future grant of options to purchase up to an additional 250,000
shares of Exult common stock (the “Contingent Options”) based upon Executive’s accomplishment of performance objectives to be established for him by the CEO in consultation with the Compensation Committee of Exult’s Board
of Directors (the “Objectives”). The Objectives will be determined and communicated to Executive in writing not later than July 1, 2001, and will relate to Executive’s performance, and/or his contributions to Exult’s
performance, in 2001. Contingent Options that become issuable will be granted as soon as practicable after Executive’s accomplishment of the required Objectives associated therewith can be definitively determined, but in no case later than
March 31, 2002. Additional stock options other than the Original Options and Contingent Options may be granted to Executive in Exult’s discretion, but no such additional options are promised. 
 
(C) Basic Option Terms. The Original Options, and any
Contingent Options granted, will have an exercise price equal to the fair market value of Exult’s common stock on the date of grant, as determined according to Exult’s 2000 Equity Incentive Plan, and will vest and become exercisable,
subject to continued employment, with respect to 25% of the underlying shares on the first anniversary of the date of grant and with respect to the remaining 75% of the underlying shares in 36 equal monthly installments thereafter. All stock options
granted to Executive are subject to Exult’s applicable stock option plan and any terms or conditions imposed by Exult in connection with the options. 
 
(d) Offset of Certain Standard Stock Option Grants. The total number of shares issuable upon exercise of Contingent Options and
other stock options issuable before the end of 2002 to Executive as part of any standard option grant program that includes other employees or executives will not exceed 250,000. If this limit would be exceeded, then any standard options otherwise
issuable to Executive will be reduced to the extent necessary to avoid exceeding the 250,000 share limit, and such a reduction will not constitute “Good Reason” under Executive’s Severance Agreement or Stock Option Addendum or a
breach of any obligation Exult might have to Executive. This limit will not apply to any stock options issuable in lieu of salary or incentive compensation, any options issued after 2002, or any options granted to Executive prior to 2003 other than
as part of a standard option grant program that includes other employees or executives. 
 

2 

 
(e) No
Representations. No representations or promises are made to Executive regarding the value of Exult stock or options or Exult’s business prospects. Executive acknowledges that information about investment in Exult stock, including financial
information and related risks, is contained in Exult’s SEC reports on Form 10-Q and Form 10-K, which have been made available from Exult’s Human Resources department for Executive’s review at any time before Executive’s
acceptance of employment or at any time during Executive’s employment. Further, Executive understands that Exult does not provide tax advice and acknowledges Exult’s recommendation that Executive consult with a tax specialist regarding
Executive’s employment compensation. 
 
4.
Expense Reimbursement. In addition to the compensation specified in Section 2, Executive shall be entitled, in accordance with the Company’s reimbursement policies in effect from time to time, to receive reimbursement from the
Company for reasonable business expenses incurred by Executive in the performance of Executive’s duties hereunder, provided Executive furnishes the Company with vouchers, receipts and other details of such expenses in the form required by the
Company sufficient to substantiate a deduction for such business expenses under all applicable rules and regulations of federal and state taxing authorities. 
 
5. Fringe Benefits. 
 
(a) Benefit Programs. Executive shall, throughout the period of Executive’s employment with the Company (the
“Employment Period”), be eligible to participate in all executive life and disability insurance programs, group term life insurance plans, group health plans, accidental death and dismemberment plans and disability programs and
other executive perquisites that are made available to the Company’s executive officers and for which Executive qualifies. 
 
(b) Vacation. Executive shall earn vacation time during the Employment Period at the rate of four (4) weeks per year. Vacation
shall accrue and be taken pursuant to the Company’s vacation benefit policy set forth in the Company’s Employee Handbook. Executive also shall be eligible to participate in any “floating holiday” or “personal day off”
programs offered by the Company. During the first year of Executive’s employment, Executive may take up to four weeks of paid vacation before it is accrued, provided that any such pre-accrual vacation will offset vacation as it accrues.

 
(c) Death Benefit. If Executive dies
during the Employment Period other than as a result of suicide, Executive’s legal representatives shall be entitled to receive an amount equal to one year of Executive’s annual salary (but in no case in excess of $500,000), payable in
equal installments in accordance with Company’s standard payroll schedule (subject to all applicable withholdings required by law), but reduced (not below 0) by the aggregate amount of the proceeds of any death benefits paid to Executive’s
survivors under policies of life insurance for which the Company paid all premiums as part of the Company’s standard death benefit arrangements. 
 
(d) Disability Benefit. If during the Employment Period Executive suffers Permanent Disability as defined at the time of Permanent
Disability in the Company’s 2000 Equity Incentive Plan, or a successor plan thereto other than as a result of attempted suicide, the 
 

3 

Company may, without any liability under this agreement and by written notice to Executive, at any time
thereafter suspend or terminate the Employment Period without any severance obligation, except that Executive shall be entitled to continue to receive payments of his salary, as in effect at the time of the incapacitation or disability leading to
Permanent Disability, in accordance with the Company’s regular payroll schedule for a period 180 days after such suspension or termination, provided that such obligation will be reduced (but not below 0) by the sum of (A) salary paid in excess
of accrued vacation during periods that Executive did not work due to the incapacitation or disability leading to Permanent Disability, plus (B) the aggregate amount of any monthly disability benefits paid to Executive under policies of disability
insurance for which the Company paid all the premiums as part of the Company standard disability benefit arrangements. 
 
6. Employment Attributes. 
 
(a) At-Will. Executive’s employment with the Company is at-will and not for a specific term and may be terminated by either
the Company or Executive at any time, for any reason without cause or advance notice. 
 
(b) Changes. The Company may change Executive’s responsibilities, duties, title, and reporting relationships at any time for any reason. Such changes will not constitute a breach by the
Company of this Agreement, but may trigger certain rights of Executive pursuant to a separate written severance arrangement with the Company. 
 
(c) No Severance. Upon termination of Executive’s employment for any reason, the Company will have no severance obligation
under this Agreement other than for payment of accrued but unpaid salary, vacation and expenses. Executive may, however, be entitled to severance benefits in accordance with a separate written severance arrangement with the Company. 
 
7. Conditions to Employment. Notwithstanding execution
and delivery of this Agreement or any other document related to Executive’s employment or compensation, Executive’s employment with the Company and rights under this Agreement or such other documents are contingent upon satisfaction of the
following conditions: 
 
(a) Proprietary
Information and Inventions. Executive must execute and deliver the Company’s standard Confidential Information and Inventions Agreement. Executive’s obligations pursuant to the Confidential Information and Inventions Agreement will
survive termination of Executive’s employment with the Company. 
 
(b) Eligibility. Executive must provide to the Company the documents listed on the standard Employment Eligibility (I-9) Form, and demonstrate to the Company’s satisfaction Executive’s legal right to work.

 
(c) Prior Employment Cessation. Executive
must have lawfully and effectively ceased employment with the Meyers Group or its successors, and any employment or consulting relationship with any other third party. 
 

4 

 
8.
Representations. 
 
In order to induce the
Company to hire him as set forth in this Agreement, Executive represents, warrants and undertakes to the Company as follows: 
 
(a) Executive has been fully advised to the extent Executive desires by counsel independent of the Company of his obligations under and
the terms of all agreements and other obligations applicable to his relationship with all prior employers or parties engaging Executive’s services and their successors (collectively, the “Prior Employers”). Executive does and
will rely upon his own judgment and the advice he receives from counsel independent of the Company in any action he takes (or decides not to take) in relation to his employment with Exult and with respect to his obligations to Prior Employers, but
Executive will keep the Company fully informed of the nature and extent of his obligations to all Prior Employers at any time and any steps Executive proposes to take to effect his disengagement from all Prior Employers. 
 
(b) Executive has been fully advised by counsel independent of
the Company of his obligations under and the terms of this Agreement and the other documents referenced in Section 10(c). 
 
(c) Executive is under no contractual restriction or other restrictions or obligations that are inconsistent with the execution of this
Agreement or the performance of Executive’s duties and covenants hereunder, and will not breach any obligations to any Prior Employer. 
 
(d) Executive is under no physical or mental impairment that would interfere with Executive’s ability to perform his duties
hereunder. 
 
(e) Executive has full right and
power to enter into this Agreement and perform his duties and covenants hereunder without any consent from any third party. 
 
(f) Executive’s performance of his duties and covenants hereunder will not infringe the rights, including intellectual property
rights, of any third party. 
 
(g) All information
provided by Executive to the Company is true, correct and complete. 
 
In order to induce Executive to enter into this Agreement, the Company represents and warrants to Executive that the terms, conditions, and provisions of this Agreement and the related agreements being entered into between
the Company and Executive as of the date hereof are in all material respects the standard and customary terms, conditions, and provisions of similar agreements previously entered into between the Company and other currently employed senior
executives, other than details of compensation, incentives, benefits, title, and responsibilities unique to each executive. 
 
9. Certain Covenants. 
 
(a) Focus on Company. During the Employment Period, Executive shall devote his full business time and energy solely and exclusively
to the performance of his duties 
 

5 

to the Company, and shall render his services under this Agreement fully, faithfully, diligently, and to
the best of his ability. During the Employment Period, Executive shall not directly or indirectly provide services of any kind or character to or through any person, firm or other entity except the Company, unless otherwise authorized in writing by
the CEO. However, Executive shall have the right to perform such incidental services as are necessary in connection with (a) Executive’s private passive investments, but only if Executive is not obligated or required to (and shall not in fact)
devote any managerial efforts which interfere with Executive’s services to the Company, or (b) Executive’s charitable or community activities, or participation in trade or professional organizations, but only if such incidental services do
not interfere with Executive’s services to the Company. 
 
(b) Prior Employers. Executive will not, in connection with his employment with the Company, breach any obligation to any Prior Employer or other third party, including without limitation by improperly using or disclosing any
confidential information, proprietary information or trade secrets belonging to any Prior Employer, or bringing onto the premises of the Company or in any other way using or referring to any unpublished document or any property belonging to any
Prior Employer unless consented to in writing by such Prior Employer, and will return all property and confidential information belonging to any Prior Employer. This is in addition to all obligations of Executive under the Confidential Information
and Inventions Agreement. 
 
(c)
Non-Solicitation. During the Employment Period and for one (1) year following termination of Executive’s employment, Executive shall not encourage or solicit any of the Company’s employees to leave the Company’s employ for any
reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees; or solicit any client of the Company to do business with a third party in a line of business in which the Company is
engaged at the time, induce any of the Company’s clients to terminate its existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and any client or other third
party. Executive acknowledges that monetary damages may not be sufficient to compensate the Company for any economic loss that may be incurred by reason of his breach of the foregoing restrictive covenants. Accordingly, in the event of any such
breach, the Company shall, in addition to any remedies available to the Company at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach. 
 
10. General 
 
(a) Successors and Assigns. This Agreement is personal
in its nature and the Executive shall not assign or transfer his rights under this Agreement. 
 
(b) Notices. Any notices, demands or other communications required or desired to be given by any party shall be in writing and shall be validly given to another party if served either personally
or if deposited in the United States mail, certified or registered, postage prepaid, return receipt requested. If such notice, demand or other communication shall be served personally, service shall be conclusively deemed made at the time of such
personal service. If such notice, demand or other communication is given by mail, such notice shall be conclusively deemed given forty-eight (48) hours after the deposit thereof in the United States mail addressed 
 

6 

to the party to whom such notice, demand or other communication is to be given as hereinafter set forth:

 

	  To the Company:
	   	  Exult, Inc.

	  	   	  4 Park Plaza, Suite 1000

	  	   	  Irvine, California 92614

	  	   	  Attention: Chief Executive Officer

	
	  With a copy to:
	   	  General Counsel

	
	  To Executive:
	   	  At his address of record as maintained in the Company’s employment files

 
Any party may change its
address for the purpose of receiving notices, demands and other communications by providing written notice to the other party in the manner described in this paragraph. 
 
(c) Entire Agreement. This Agreement, any separate document pursuant to which the Company undertakes
severance obligations to Executive, the Company’s Confidential Information and Inventions Agreement, and the separate documentation related to Executive’s stock options together constitute the entire agreement and understanding of the
Company and Executive with respect to the terms and conditions of Executive’s employment with the Company and the provision by the Company of any consideration or benefits, and supersede all prior and contemporaneous written or verbal
agreements and understandings between Executive and the Company relating to such subject matter. This Agreement may only be amended by written instrument signed by Executive and an authorized officer of the Company. Any and all prior agreements,
understandings or representations relating to the Executive’s employment with the Company are terminated and cancelled in their entirety and are of no further force or effect. 
 
(d) Governing Law; Severability. This Agreement will be construed and interpreted under the
laws of the State of California applicable to agreements executed and to be wholly performed within the State of California. If any provision of this Agreement as applied to any party or to any circumstance is adjudged by a court of competent
jurisdiction to be void or unenforceable for any reason, the invalidity of that provision shall in no way affect (to the maximum extent permissible by law) the application of such provision under circumstances different from those adjudicated by the
court, the application of any other provision of this Agreement, or the enforceability or invalidity of this Agreement as a whole. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any jurisdiction by
reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without materially
altering the intention of the parties, then such provision will be stricken and the remainder of this Agreement shall continue in full force and effect. 
 
(e) Remedies. All rights and remedies provided pursuant to this Agreement or by law shall be cumulative, and no such right or
remedy shall be exclusive of any other. A party may pursue any one or more rights or remedies hereunder or may seek damages or specific 
 

7 

performance in the event of another party’s breach hereunder or may pursue any other remedy by law or
equity, whether or not stated in this Agreement. 
 
(f) Arbitration. Any and all disputes and claims between Executive and the Company that arise out of Executive’s employment with the Company or termination thereof shall be resolved through final and binding
arbitration. This shall include, without limitation, disputes relating to this Agreement or any of the other documents referred to in Section 10(c), claims for wrongful termination or breach of contract or breach of the covenant of good faith
and fair dealing, public policy violation, harassment, discrimination, or other claims under any federal, state or local law or regulation now in existence or hereinafter enacted and as amended from time to time. The only claims not covered
by this Agreement are claims for benefits under the workers’ compensation or unemployment insurance laws, which will be resolved pursuant to those laws. Any demand for arbitration must be made within 365 days of the date on which the dispute
first arose (unless a longer period of time is required by law), or it will be deemed waived by both parties. Binding arbitration will be conducted in Orange County, California in accordance with the rules and regulations of the American Arbitration
Association. Executive understands and agrees that the arbitration shall be instead of any civil litigation and that this means that Executive is waiving his right to a jury trial as to such claims. The parties further understand and agree that the
arbitrator’s decision shall be final and binding to the fullest extent permitted by law and enforceable by any court having jurisdiction. The prevailing party in any arbitration conducted pursuant to this Section 10(f), and any appeal
therefrom or related thereto, or any litigation between Executive and the Company related to Executive’s employment or termination thereof that occurs notwithstanding this arbitration provision (all of the foregoing being referred to as
“Proceedings”), shall be entitled to recover from the non-prevailing party all costs incurred by the prevailing party in the Proceedings, including without limitation attorneys’ costs and fees. The identity of the prevailing
party in any Proceeding will be determined by the arbitrator or other trier of fact or tribunal in the Proceeding as the party most nearly achieving the result sought, although the arbitrator or other trier of fact or tribunal may decide in any
Proceeding that there is no prevailing party if, on the basis of all of the facts and circumstances, the interests of justice so require. In addition, the Company shall propose a reasonable set of rules to guide any Proceedings. Such rules shall be
designed to lead to a prompt and just result without undue delay or expense, but will not be prejudicial to either party. If Executive agrees to such proposed rules and guidelines, the Company will pay on Executive’s behalf or advance to
Executive all of Executive’s reasonable costs incurred in the Proceedings. Executive’s acceptance of such payments or advances will constitute Executive’s agreement to reimburse the Company therefor if the Company is found by the
arbitrator or other trier of fact or tribunal to be the prevailing party in the Proceeding. 
 
(g) Waivers; Amendments. The waiver by either party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any later breach of that provision. This
Agreement may be modified only by written agreement signed by Executive and the Company. 
 
(h) Counterparts. This Agreement may be executed in more than one counterpart, each of which shall be deemed an original, but all of which together shall constitute but one and the same
instrument. Facsimile or photographic copies of originally signed copies of this Agreement will be deemed to be originals. 
 

8 

 
IN WITNESS
WHEREOF, the Company and Executive have entered into this Agreement as of the date first above written. 
 

	  Exult, Inc.

	
	  By:
	  	  
	  	  	

	  	  	  James C. Madden, V

	  	  	  President & CEO

	
	  	  	   

	  	  	  Michael F. Henn

 

9Severance Agreement dated April 2, 2001

 
Exhibit
10.30.2 
 
SEVERANCE AGREEMENT

 
This Severance Agreement (this
“Agreement”) is entered into as of April 2, 2001 by and between Exult, Inc. (the “Company”) and Michael F. Henn (“Executive”). 
 
Executive has entered into an employment agreement with the Company dated April 2, 2001 (the
“Employment Agreement”). In consideration of the Employment Agreement, the provisions hereof, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and Executive hereby
agree as follows: 
 
1. If a Triggering Event
occurs, but subject to Sections 2 and 3: 
 
(a) (i) Covered Options that had not vested as of the date of the Triggering Event but that would have vested if Executive had remained employed with the Company until the first anniversary of the date of the Triggering Event will
vest and become exercisable, and (ii) all shares previously issued upon exercise of Covered Options prior to vesting that would have become free of repurchase rights if Executive had remained employed with the Company until the first anniversary of
the date of the Triggering Event will become free of repurchase rights, as of the date of the Triggering Event, notwithstanding any unsatisfied vesting conditions applicable thereto. Covered Options that accelerate in accordance with this Section
1(a) will be governed by the Plan pursuant to which they were granted, including for purposes of the period for which they will remain exercisable, except to the extent the plan is modified by a written agreement between Executive and the
Company. Covered Options that had not vested as of the date of the Triggering Event and that do not accelerate according to this provision will, unless otherwise provided by the Stock Option Addendum entered into by Executive and the Company
concurrently herewith, be cancelled. 
 
(b) The
Company or its successor will pay Executive the Severance Payment in a lump sum within 15 days after the date of the Triggering Event or, if later, on the date the condition described in Section 3 is satisfied. 
 
(c) If Executive qualifies to continue to receive insurance
coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company will reimburse Executive for the cost of coverage for Executive and Executive’s eligible dependents who were covered under Company-sponsored
insurance on the date of notice of the Triggering Event for a period of 365 days after the date of the Triggering Event under COBRA. The amount of reimbursement shall be equal to the actual premiums Executive pays. 
 
2. (a) If in connection with a Triggering Event not involving
any Change in Control (as defined at the time thereof in the Company’s 2000 Equity Incentive Plan or the successor plan thereto) and not involving any breach by the Company of Executive’s Employment Agreement or any other material legal
obligation to Executive in any material respect, Executive receives benefits under Section 1 of this Agreement, then within five (5) days of the Triggering Event the Company’s CEO may specify a list of companies deemed, in the CEO’s
reasonable good-faith judgment, to be engaged or planning to engage in business activities competitive with the Company (“Listed Companies”). If, without prior written 

 
consent of the Company’s
CEO, at any time within 365 days after the Triggering Event Executive directly or indirectly (i) participates in the ownership, management, operation or control of, or is employed or contracted by, or otherwise engaged in any business relationship
for Executive’s compensation or remuneration or investment with, any of the Listed Companies, or (ii) agrees to do any of the things described in (i), then the Company shall be entitled without consideration or obligation to Executive to cease
payments to Executive under this Agreement and to recover from Executive any cash payments made to Executive pursuant to Section 1(b) of this Agreement, and to cancel any stock options that vested pursuant to Section 1(a) of this
Agreement but have not been exercised, and to rescind any exercise of any stock options that vested pursuant to Section 1(a) of this Agreement. Any restrictions imposed and Company rights under this Section 2(a) will be (or become)
void if the Triggering Event occurs at any time during the period from 60 days before until 548 days after a Change in Control. 
 
(b) If at any time before the third anniversary of the Triggering Event Executive (i) breaches in any material respect any contractual,
legal or fiduciary obligation to the Company, and if such breach is susceptible of cure, fails to cure such breach within 30 days of the Company’s delivery to Executive of notice of the breach and demand for cure, or (ii) disparages in any
material respect the Company or any other person or entity included among the “Released Parties” as defined in Exhibit A, then the Company shall be entitled without consideration or obligation to Executive to cease payments to
Executive under this Agreement and to recover from Executive any cash payments made to Executive pursuant to Section 1(b) of this Agreement, and to cancel any stock options that vested pursuant to Section 1(a) of this Agreement but
have not been exercised, and to rescind any exercise of any stock options that vested pursuant to Section 1(a) of this Agreement. Any obligation of the Company to provide benefits to Executive will be suspended during any applicable cure
period. 
 
(c) The Company may exercise its rights
under this Section 2 in whole or part by giving Executive written notice at any time or from time to time within 180 days after becoming aware of the activities described above. Within ten days after receiving such notice from the Company,
Executive shall repay to the Company the cash payments made to Executive pursuant to Section 1(b) of this Agreement, and return to the Company all shares of stock Executive received in connection with any rescinded option exercise, or if
Executive has transferred such shares, then pay to the Company in cash the equivalent value thereof at the time of their transfer. If Executive returns shares to the Company pursuant to the foregoing, the Company will return to Executive the
aggregate exercise price Executive paid for the shares, in the Company’s discretion either by paying Executive cash, or by reduction of amounts Executive owes the Company. If Executive has transferred shares and is therefore obligated to pay
the Company the value thereof pursuant to the foregoing, Executive may deduct from that payment any portion of the aggregate exercise price Executive paid to the Company for the shares that has not been paid to Executive by the Company in its
discretion either in cash or by reduction of amounts Executive owes the Company. 
 
3. The benefits provided to Executive under this Agreement will in each case be contingent upon and subject to Executive’s execution and delivery to the Company, and the effectiveness upon any
applicable period of revocability, of a written release substantially in the form attached hereto as Exhibit A . 
 

2 

 
4. The
benefits provided to Executive under this Agreement will be subject to appropriate income tax withholding and other deductions required by applicable laws or regulations or approved by Executive, and Executive will be responsible for all income
taxes payable as a result of receipt of benefits under this letter, without gross-up or other assistance from the Company except as may be provided by separate written agreement between the Company and Executive. Notwithstanding anything herein to
the contrary, the Company’s obligation to pay or provide any benefits under this Agreement may be reduced in offset by the amount of any (i) monetary obligation Executive has to the Company or any of its Affiliates and/or (ii) liability of the
Company or any of its Affiliates to a third-party as a result of any conduct by Executive that is outside the scope of Executive’s employment with the Company. 
 
5. The following definitions apply for purposes of this Agreement: 
 
“Affiliate” of the Company means any person
or entity controlling, controlled by, or under common control with the Company. 
 
“Cause” means (i) Executive has engaged in any “Misconduct” as defined at the time thereof in the Company’s 2000 Equity Incentive Plan (provided, however, that for the
purposes of this Addendum the last sentence of the first paragraph of such definition of “Misconduct” shall be deleted) or the successor plan thereto; or (ii) Executive’s conviction of, or plea of nolo contendere to, any felony
or misdemeanor in which the actions forming the basis for the charges for which Executive was convicted or to which Executive pled nolo contendere manifested moral turpitude or fraud by Executive, or that has a material adverse effect
(including without limitation reputational effect) upon the Company, or that demonstrates that Executive is manifestly unfit for a position of leadership and trust in the Company. 
 
“Covered Options” means all options to purchase capital stock of the Company or its
successor issued to Executive at any time before or after execution of this Agreement and all options or other securities issued in replacement for such options, provided that with respect to any stock options originally issued to Executive after
the date of this Agreement other than the Original Options and any Contingent Options as described in the Employment Agreement dated April 2, 2001, between the Company and Optionee (“Subsequent Options”) the Company may specify at
any time within 30 days before or after the original date of issuance thereof that such Subsequent Options are not Covered Options for purposes hereof. 
 
“Disability” means Permanent Disability as defined in the Company’s 2000 Equity Incentive Plan, or the successor
plan thereto. 
 
“Executive
Officers” means officers of the Company or its Affiliates in favor of whom the Company has entered into a severance agreement substantially in the form hereof. 
 
Resignation with “Good Reason” means (i) breach by the Company of Executive’s
Employment Agreement or any other material legal obligation to Executive in any material respect and failure to cure such breach within 15 days of receipt from Executive of a written demand for cure delivered to the Company within 60 days after
Executive became aware of the breach, followed by resignation by Executive of Executive’s employment within 30 days after 
 

3 

 
the end of such 15-day cure
period; or (ii) resignation by Executive of Executive’s employment within 30 days after (A) being directed to relocate Executive’s primary work location by more than 25 miles, which relocation would increase Executive’s commuting
distance over the distance to Executive’s primary work location before the change; (B) Executive’s level of responsibility, duties, title or reporting relationships are diminished in any material way; (C) Executive’s annual salary is
reduced below $300,000 or by more than 15% in any 365-day period; (D) Executive’s bonus or other incentive compensation eligibility or participation is reduced disproportionately to other Executive Officers, taking into account relative annual
salary levels (provided that non-payment to Executive of incentive compensation because of Executive’s failure to achieve reasonable performance milestones consistent with a written incentive compensation plan that was fairly administered will
not constitute Good Reason); or (E) any successor to the Company or its business fails in any acquisition of the Company or its business, or any other reorganization or change-in-control transaction to assume in full all of the obligations of the
Company under this Agreement. 
 
“Severance Payment” means an amount equal to the sum of (i) Executive’s annual salary as in effect on the first day of the fiscal year in which the Triggering Event occurs or immediately before the Triggering
Event, whichever is greater, plus (ii) Executive’s target bonus for the year in which the Triggering Event occurs as in effect on the first day of the fiscal year in which the Triggering Event occurs or immediately before the Triggering Event,
whichever is greater, provided that Executive’s target bonus for this purpose will in no case be less than 50% of the amount referred to in part (i) of this definition. For these purposes, non-cash bonus components will be converted to and paid
in their cash equivalent calculated as of the time of the Triggering Event. 
 
“Triggering Event” means the Company or its successor terminates Executive’s employment under any circumstances other than for Cause, death or Disability; or Executive resigns
Executive’s employment with Good Reason. The date of the Triggering Event will be the date Executive’s employment terminates. 
 
6. (a) Except as described in the third sentence of this Section 6(a), this Agreement supersedes any and all (i) previous
agreements, plans or addenda related to severance benefits payable to Executive, all of which are hereby terminated and of no further force or effect, and (ii) contrary provisions of any plan pursuant to which Covered Options are granted. In
addition, the benefits payable to Executive hereunder are in lieu of any other severance benefits under any other plan or agreement of the Company implemented or entered into before the date of this Agreement. However, this Agreement is a supplement
to, and not a limitation of, the rights of Executive under the plans pursuant to which the Covered Options were issued, and nothing in this Agreement limits acceleration of stock options or other benefits provided to Executive under stock option
plans of the Company or separate written agreements entered into by the Company on or after the date hereof. 
 
(b) If Executive becomes entitled to the benefits provided under this Agreement, then Section 4.14 of the Company’s 2000 Equity
Incentive Plan, and any similar provisions of any other plan or agreement otherwise applicable to Executive or Covered Options, will cease to apply in circumstances described in item (a) of the definition of “Misconduct” in the 2000

 

4 

 
Equity Incentive Plan
(describing competitive activities), but this will not limit Section 2(a) of this Agreement. 
 
7. Sections 10(b) [Notices], 10(d) [Governing Law; Severability], 10(e) [Remedies], 10(f) [Arbitration], 10(g) [Waivers; Amendments] and
10(h) [Counterparts] of the Employment Agreement shall be applicable to this Agreement as though set forth herein. Without limiting the foregoing, it is specifically intended that the prevailing party in disputes hereunder be entitled to recover
attorneys’ fees and costs as set forth in Section 10(f) of the Employment Agreement. 
 
In witness whereof, the Company and Executive have entered into this Agreement as of the date first above set forth. 
 
EXULT, INC. 

	
	  By:
	  	
	  	  	  	

	  Name:
	  	
	  	  	  	  Michael F. Henn

	  Title:
	  	
	  	  	  	  	  	  

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]