Document:

Separation Agreement and General Release dated December 14, 2011

 Exhibit 10.2 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
 This is a Separation
Agreement and General Release (referred to as “Agreement”) entered into this 15th day of December, 2011, by and between Gayle G. Stratmann (referred to as “COLLEAGUE”) and Energizer Holdings, Inc. (referred to as
“ENERGIZER” and defined in Paragraph 15). 
 In consideration of the mutual promises contained in this Agreement,
ENERGIZER and the COLLEAGUE agree as follows: 
 1. COLLEAGUE and ENERGIZER agree that on May31, 2012, COLLEAGUE will no longer
be employed by ENERGIZER and will be removed from ENERGIZER’s payroll. 
 2. In consideration of COLEAGUE’s execution
of this Agreement, and a Second Release (which shall be substantially in the form attached hereto as Exhibit A) at the conclusion of her employment on May 31, 2012 (referred to as “Second Release”), ENERGIZER agrees, after the date of
receipt of a signed, unrevoked copy of this Agreement and the Second Release: 
  

	 	a.	To pay COLLEAGUE, less legally required deductions, a full year FY2012 bonus, calculated based on actual ENERGIZER financial results and a performance rating of 2,
payable November 30, 2012, when other FY2012 bonuses are paid and in any event by December 31, 2012; 

  

	 	b.	In accordance with the terms of the Energizer Holdings, Inc. Deferred Compensation Plan, effective May 31, 2012, COLLEAGUE will become fully vested in any Company
Matching Contributions; 

  

	 	c.	To amend the terms of the time-based restricted stock equivalent award agreements granted to COLLEAGUE as follows: All of the time-based restricted stock equivalents
granted to COLLEAGUE under the terms of her Restricted Stock Equivalent Award Agreements executed by ENERGIZER on October 12, 2009 (4800 shares), November 1, 2010 (4140 shares), and November 7, 2011 (4440 shares) shall not be
forfeited, but rather shall immediately vest and convert into shares of ENERGIZER’s common stock, which shares shall be issued to COLLEAGUE on the date that is six months following COLLEAGUE’s removal from the payroll. In accordance with
the terms of the Energizer Holdings, Inc. 2009 Incentive Stock Plan, shares of common stock shall be withheld upon issuance in satisfaction of applicable withholding taxes; 

 

	 	d.	 To amend the terms of the performance based restricted stock equivalent award agreement granted to COLLEAGUE as follows: All of the performance-based
restricted stock equivalents granted to COLLEAGUE under the terms of her Performance Restricted Stock Equivalent Award Agreement executed by ENERGIZER on October 12, 2009 (5600 shares at target and 11,200 at stretch) shall not be forfeited, but
rather shall immediately vest and be paid to 

 
COLLEAGUE, based on actual ENERGIZER FY 2012 results, on the date that is six months following COLLEAGUE’s removal from the payroll or, in the event that actual ENERGIZER FY 2012 results are
not known on the date that is six months following COLLEAGUE’s removal from the payroll, by December 31, 2012. In accordance with the terms of the Energizer Holdings, Inc. 2009 Incentive Stock Plan, shares of common stock shall be withheld
upon issuance in satisfaction of applicable withholding taxes; and 
  

	 	e.	To pay COLLEAGUE, less legally required deductions, for any vested and unused 2012 PTO days accrued through May 31, 2012 within 2 weeks after COLLEAGUE’S removal
from the payroll. 

  

	 	f.	COLLEAGUE acknowledges, agrees and understands that the Company’s severance obligations described above are expressly conditioned on her execution and
non-revocation of a Second Release substantially in the form of that attached hereto as Exhibit A upon the conclusion of her employment on May 31, 2012. If COLLEAGUE refuses to execute the Second Release, or if she executes the Second Release
but subsequently revokes it, Company shall be relieved of these severance obligations. 

  

	 	3.	COLLEAGUE agrees: 

  

	 	a.	to cooperate with and assist ENERGIZER as directed , and to remain an employee in good-standing, through COLLEAGUE’s last day of employment, so that all
COLLEAGUE’s duties, responsibilities and pending matters can be transferred in an orderly way; 

  

	 	b.	to provide ENERGIZER with reasonable cooperation and assistance, upon ENERGIZER’s request, including testifying at all trials, when COLLEAGUE might have relevant
information. ENERGIZER shall pay COLLEAGUE for any reasonable and necessary expenses and any loss of wages or salary which COLLEAGUE incurs because of her requested cooperation with and assistance to ENERGIZER. If COLLEAGUE is not gainfully employed
elsewhere at the time, ENERGIZER shall pay for COLLEAGUE’s time at an hourly rate based on her final base salary for ENERGIZER as of her payroll removal date; 

 

	 	c.	to return all ENERGIZER materials that may have been issued to COLLEAGUE, including, but not limited to, computer hardware, software, data and disks, draft books, cars,
office equipment and supplies, credit cards, cash advances and, if necessary, to file any outstanding final expense report; 

  

	 	d.	 not to use or to disclose, either directly or indirectly, to anyone other than COLLEAGUE’s supervisor, department manager, human resources
representative or corporate officer any Information (as defined in Paragraph 4 below) or trade 

  
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secrets which COLLEAGUE obtained during the term of her employment with ENERGIZER and/or any actual or potential basis for any charge, claim, or lawsuit against ENERGIZER; 

 

	 	e.	not to make any copies and/or use outside of ENERGIZER, any client lists or any memoranda, books, records, or documents which contain Information (as defined in
Paragraph 4 below) or trade secrets belonging to ENERGIZER; 

  

	 	f.	for a period of one (1) year after termination of COLLEAGUE’s employment (“the Non-Compete Period”), COLLEAGUE will not compete against ENERGIZER in
ENERGIZER’s business. For purposes of this Agreement, “ENERGIZER’s business” shall mean any of the following activities: all aspects of formulating, manufacturing, marketing, distributing, consulting with regard to, and/or
operating a facility for the formulating, manufacturing, processing, marketing, or distribution of batteries, lighting products, razors, shaving related products, tampons, infant feeding and care products, and/or sun protection products.
“ENERGIZER business” includes products and/or methods that presently are used, were used, or are under development or consideration, whether or not completed, for use by ENERGIZER as of the date COLLEAGUE’s employment terminates. For
purposes of this Agreement, “compete” means to accept or begin employment with, advise, finance, own (partially or in whole), consult with, or accept any assignment through an employer with any third party in the United States in a
position involving or relating to ENERGIZER business. This Agreement does not preclude COLLEAGUE from buying or selling shares of stock in any company that is publicly listed and traded in any stock exchange or over-the-counter market. COLLEAGUE
agrees the foregoing restrictions are reasonable, necessary, and enforceable for the protection of the goodwill and business of ENERGIZER; and 

  

	 	g.	In order to protect ENERGIZER’s trade secrets and Information (as defined in Paragraph 4 below), as well as customer/supplier relationships, goodwill and loyalty,
for a period of twelve (12) months following the termination of COLLEAGUE’s employment, COLLEAGUE shall not directly or indirectly solicit or attempt to persuade, or assist any third party to solicit or attempt to persuade (1) any
person to terminate his or her employment with ENERGIZER, (2) any person to decline any offer of employment made by ENERGIZER, or (3) any ENERGIZER employee to accept an offer of employment or pursue employment with any other employer.

 4. COLLEAGUE acknowledges that certain information, observations and data relating to the formulation,
processing, manufacturing, sale and marketing of ENERGIZER’s batteries and battery related products, portable power products, razors, shaving-related products, tampons, infant feeding and care products, and/or sun protection products obtained
by COLLEAGUE during the course of COLLEAGUE’s employment with ENERGIZER, are competitively sensitive and are the proprietary and confidential information of ENERGIZER and its affiliated companies (the “Information”). Such Information
shall include, but not be limited 

  
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to, ENERGIZER’s current and planned information systems, the names, addresses or particular desires or needs of its customers, the bounds of its markets, the prices charged for its services
or products, its market share, marketing strategies and promotional efforts in any market, information concerning product development, manufacturing processes, research and development projects, formulas, inventions and compilations of information,
records or specifications, information concerning ENERGIZER’s past and present employees, including compensation, benefits, and Fair Labor Standards Act exemption classification, information concerning future product or market developments,
financial information, information regarding suppliers and costs of raw materials and other supplies, financing programs, overhead distribution and other expenses, or conversion costs. COLLEAGUE understands and agrees that such Information is
important, material and confidential, and that disclosure would gravely affect the successful conduct of ENERGIZER’s businesses. COLLEAGUE agrees that COLLEAGUE will not disclose to any unauthorized persons or use for COLLEAGUE’s own
account or for the benefit of any third party (other than ENERGIZER) any of such Information without ENERGIZER’s prior written consent, unless and to the extent that such Information becomes generally known to and available for use by the
public other than as a result of COLLEAGUE’s acts or omissions to act. COLLEAGUE warrants and represents that COLLEAGUE has, or will before her last day of employment, returned and delivered to ENERGIZER all memoranda, notes, plans, programs,
records, reports, and other documentation (and copies thereof) containing any Information which COLLEAGUE possesses or has under COLLEAGUE’s control. The obligation to protect Information is on-going and does not expire upon the termination
of the parties’ employment or contractual relationship. 
 5. It is understood and agreed that only the PTO and annual
bonus payments, if any, identified in Paragraph 2 of this Agreement will be considered benefit earnings for applicable benefit plans of ENERGIZER. Any other monies paid to COLLEAGUE pursuant to this Agreement shall not constitute earnings for
benefit plan purposes. 
 6. The annual bonus payment, if any, and equity vesting, if any, terms contained in Paragraph 2 of
this Agreement, are in addition to any wages to which COLLEAGUE already is entitled because of her work for ENERGIZER. COLLEAGUE agrees to accept the promises and terms in Paragraph 2 above, in consideration for the settlement, waiver and release
and discharge of any and all claims or actions against ENERGIZER arising under any federal, state, or local statute, law, or regulation pertaining to employment discrimination on the basis of sex, race, color, religion, creed, national origin, age,
mental or physical disability, marital status, veteran’s status, or any other reason established by law, including any claim of actual or constructive wrongful discharge. 
 7. COLLEAGUE agrees to release, settle and forever discharge ENERGIZER, including its agents and employees, from any and all claims, causes of action, rights, demands, debts, or damages of whatever
nature, whether or not COLLEAGUE currently knows of them, which might have arisen from COLLEAGUE’s employment with and termination from ENERGIZER and which may be brought by COLLEAGUE or another person on COLLEAGUE’s behalf. This includes,
but is not limited to, any claim COLLEAGUE might raise under contract or tort law, including actual or constructive wrongful discharge, and all claims of discrimination which COLLEAGUE may have arising out of any violation of any

  
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local, state or federal law, regulation or executive order, including all claims under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of
1991, the Americans with Disabilities Act, the Family Medical Leave Act, the Occupational Safety and Health Act, the Fair Labor Standards Act, the Rehabilitation Act, the Employee Retirement Income Security Act, the Consolidated Omnibus Budget
Reconciliation Act, as well as any claim, right or cause of action under the Missouri Revised Statutes including, but not limited to, Workers’ Compensation Retaliation § 287.780, the Service Letter Statute § 290.140, the Missouri
Human Rights Act § 213.010 et seq., the Ohio Civil Rights Act, as amended, Section 4112.01, et seq., Vermont’s Fair Employment Practices Act, Title 21, Section 495 et seq., the North Carolina Equal Employment Practices
Act, Section 143.422 et seq., the California Fair Employment and Housing Act, the Connecticut Human Rights law, as amended, Section 46a-60 et seq., the Connecticut Human Rights law, as amended , Section 46A-60 et seq., the Arizona
Civil Rights Act, A.R.S §41-1401, et seq., the Florida Civil Rights Act of 1992, Fla. Stat. §760.01-760.11, The Wisconsin Fair Employment Act, Wis. Stat. §111.31 et seq., the Tennessee Human Rights Act, Tenn. Code Ann §4-21-101,
et seq. as amended by Ch. 229, L. 2005, Louisiana Employment Discrimination Law, La. Rev. Stat. Ann. §23:301, et seq., the New Jersey Law Against Discrimination, the Virginia Human Rights Act, Chapter 39, §2.2-3900, et seq., the federal
plant closing law (WARN Act) or any comparable state law, and the Family and Medical Leave Act of 1994 or any state leave law, actions at common law, in contract or tort, all claims for lost wages, bonuses, seniority, reinstatement, attorneys’
fees, costs, and actual, compensatory and punitive damages. Provided, however, that COLLEAGUE shall retain and have specifically excluded from this release any claims she may have against ENERGIZER as identified in paragraph 9 below. 

8. In the event that COLLEAGUE or any person brings a cause of action against ENERGIZER in violation of Paragraph 7 of this Agreement, or
files a charge of discrimination against ENERGIZER with any local, state, or federal agency including but not limited to the Equal Employment Opportunity Commission, the Missouri Commission on Human Rights, or any comparable agency, COLLEAGUE waives
any claim for reinstatement, equitable or legal monetary compensation, or damages incident to such cause of action or charge. 

9. This Agreement shall not affect COLLEAGUE’s right to raise any claims based on any Social Security, Workers’ Compensation,
or unemployment compensation laws, or based on the terms of any employee pension or welfare benefit plan of ENERGIZER, including its subsidiaries and affiliated companies, which may involve benefits that should be paid to COLLEAGUE now or in the
future. 
 10. COLLEAGUE understands that any breach of Paragraphs 3 and 4 of this Agreement could cause irreparable harm to
ENERGIZER. COLLEAGUE agrees that ENERGIZER has the right to seek an injunction to prevent violation of COLLEAGUE’s obligations under this Agreement, in addition to ENERGIZER’s right to seek remedies at law. 

11. COLLEAGUE shall remain covered and indemnified under ENERGIZER’s D&O insurance policies for liability arising from conduct
undertaken by COLLEAGUE in the course and scope of her employment with ENERGIZER. 

  
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 12. ENERGIZER and COLLEAGUE agree to reasonably cooperate with one another with regard to
matters related to the termination of COLLEAGUE’s employment and COLLEAGUE’s exit from ENERGIZER’s business, including but not limited to execution of documents. 

13. This Agreement is intended to finally and fully conclude the employment relationship between COLLEAGUE and ENERGIZER and may be
amended only by an Agreement in writing signed by the parties hereto. This Agreement shall not be interpreted as an admission by either the COLLEAGUE or ENERGIZER of any wrongdoing or any violation of federal, state or local law, regulation, or
ordinance. ENERGIZER specifically denies that it, or its employees, supervisors, representatives, or agents, has ever committed any wrongdoing whatsoever against COLLEAGUE. 
 14. In the event that any provision shall be held to be invalid or unenforceable for any reason whatsoever, it is agreed such invalidity or unenforceability shall not affect any other provision of this
Agreement and the remaining covenants, restrictions and provisions hereof shall remain in full force and effect, and any court of competent jurisdiction may so modify the objectionable provision as to make it valid, reasonable and enforceable.

 15. This Agreement will be governed by the internal law of the State of Missouri and not the law of conflicts. Any lawsuit
concerning the rights and obligations created by, or the enforceability of, this Agreement may be brought only in the United States District Court for the Eastern District of Missouri or, in the event such court lacks jurisdiction, in the Missouri
State Court in St. Louis County, Missouri. The parties waive the right to a jury trial in any such lawsuit. 
 16. For purposes
of this Agreement, the term “ENERGIZER” shall include Energizer Holdings, Inc. and all of its subsidiaries and affiliated companies, predecessors, successors, and assigns of the aforementioned, and all past, present, and future officers,
directors, agents, representatives, stockholders, and employees of any of the foregoing. 
 17. COLLEAGUE expressly acknowledges
that ENERGIZER has given him/her at least twenty-one (21) days to consider this Agreement as originally presented and that ENERGIZER also has given him/her the opportunity to discuss all aspects of this Agreement with an attorney before signing
this Agreement. COLLEAGUE states that she has discussed this Separation Agreement and General Release or, in the alternative, has freely elected to waive any remaining part of the twenty-one (21) days and any further opportunity to discuss this
Agreement with an attorney before signing it. 
 18. COLLEAGUE may revoke her acceptance within seven (7) days after
signing this Agreement. COLLEAGUE’s notice of revocation must be given to ENERGIZER’s Human Resources Department in writing within seven (7) days after signing this Agreement. If COLLEAGUE does revoke this Agreement, neither the
COLLEAGUE nor ENERGIZER will be required to satisfy any of the terms of this Agreement. If COLLEAGUE has not revoked her acceptance, within seven (7) days this Agreement’s effectiveness will become final. 

  
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 19. COLLEAGUE ACKNOWLEDGES SHE HAS READ THIS AGREEMENT CONSISTING OF NINETEEN
(19) NUMBERED PARAGRAPHS AND SEVEN (7) PAGES, AND EXHIBIT A HERETO CONSISTING OF TWO (2) ADDITIONAL PAGES, THAT THE ONLY CONSIDERATION FOR SIGNING THIS AGREEMENT IS THE TERMS STATED HEREIN, THAT NO OTHER PROMISE OR AGREEMENT OF ANY
KIND HAS BEEN MADE TO HIM/HER BY ANY PERSON OR ENTITY WHATSOEVER TO CAUSE HER TO SIGN THIS AGREEMENT, THAT SHE WILL RECEIVE ONLY THE PAYMENTS AND BENEFITS SPECIFIED IN THIS AGREEMENT IN EXCHANGE FOR SIGNING THIS AGREEMENT, THAT SHE IS COMPETENT TO
EXECUTE THIS AGREEMENT, THAT SHE FULLY UNDERSTANDS THE MEANING AND INTENT OF THIS AGREEMENT, THAT SHE HAS HAD AN ADEQUATE OPPORTUNITY TO DISCUSS THIS DOCUMENT WITH AN ATTORNEY AND HAS DONE SO OR HAS VOLUNTARILY ELECTED NOT TO DO SO, AND THAT SHE IS
VOLUNTARILY EXECUTING IT OF HER OWN FREE WILL. 
  

					
	COLLEAGUE	 		 	ENERGIZER HOLDINGS, INC.
			
	/s/ Gayle G. Stratmann	 	By:	 	/s/ Peter J. Conrad
	Gayle G. Stratmann	 		 	 Peter J. Conrad
 Vice
President, Human Resources

			
	Date: December 15, 2011	 		 	Date: December 15, 2011

  
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 EXHIBIT A 

GENERAL RELEASE OF CLAIMS 
 FOR AND IN CONSIDERATION of the severance benefits set forth in paragraph 2 of that Separation Agreement and General Release Agreement dated as of December
            , 2011, by and between Gayle G. Stratmann (referred to as “COLLEAGUE”) and Energizer Holdings, Inc. (referred to as “ENERGIZER” and defined below) (referred
to as “Agreement”), and the other mutual promises and obligations contained therein, COLLEAGUE hereby releases, settles, waives and forever discharges ENERGIZER, including its agents and employees, from any and all claims, causes of
action, rights, demands, debts, or damages of whatever nature, whether or not COLLEAGUE currently knows of them, which might have arisen from COLLEAGUE’s employment with and termination from ENERGIZER and which may be brought by COLLEAGUE or
another person on COLLEAGUE’s behalf. This includes, but is not limited to, any claim COLLEAGUE might raise under contract or tort law, including actual or constructive wrongful discharge, and all claims of discrimination which COLLEAGUE may
have arising out of any violation of any local, state or federal law, regulation or executive order, including all claims under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the
Americans with Disabilities Act, the Family Medical Leave Act, the Occupational Safety and Health Act, the Fair Labor Standards Act, the Rehabilitation Act, the Employee Retirement Income Security Act, the Consolidated Omnibus Budget Reconciliation
Act, as well as any claim, right or cause of action under the Missouri Revised Statutes including, but not limited to, Workers’ Compensation Retaliation § 287.780, the Service Letter Statute § 290.140, the Missouri Human Rights Act
§ 213.010 et seq., the Ohio Civil Rights Act, as amended, Section 4112.01, et seq., Vermont’s Fair Employment Practices Act, Title 21, Section 495 et seq., the North Carolina Equal Employment Practices Act,
Section 143.422 et seq., the California Fair Employment and Housing Act, the Connecticut Human Rights law, as amended, Section 46a-60 et seq., the Connecticut Human Rights law, as amended , Section 46A-60 et seq., the Arizona Civil
Rights Act, A.R.S §41-1401, et seq., the Florida Civil Rights Act of 1992, Fla. Stat. §760.01-760.11, The Wisconsin Fair Employment Act, Wis. Stat. §111.31 et seq., the Tennessee Human Rights Act, Tenn. Code Ann §4-21-101, et
seq. as amended by Ch. 229, L. 2005, Louisiana Employment Discrimination Law, La. Rev. Stat. Ann. §23:301, et seq., the New Jersey Law Against Discrimination, the Virginia Human Rights Act, Chapter 39, §2.2-3900, et seq., the federal plant
closing law (WARN Act) or any comparable state law, and the Family and Medical Leave Act of 1994 or any state leave law, actions at common law, in contract or tort, all claims for lost wages, bonuses, seniority, reinstatement, attorneys’ fees,
costs, and actual, compensatory and punitive damages. 
 In the event that COLLEAGUE or any person brings a cause of action
against ENERGIZER in violation of this General Release of Claims (hereinafter referred to as “General Release”), or files a charge of discrimination against ENERGIZER with any local, state, or federal agency including but not limited to
the Equal Employment Opportunity Commission, the Missouri Commission on Human Rights, or any comparable agency, COLLEAGUE waives any claim for reinstatement, equitable or legal monetary compensation, or damages incident to such cause of action or
charge. 

  
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 This General Release shall not affect COLLEAGUE’s right to raise any claims based on
any Social Security, Workers’ Compensation, or unemployment compensation laws, or based on the terms of any employee pension or welfare benefit plan of ENERGIZER, including its subsidiaries and affiliated companies, which may involve benefits
that should be paid to COLLEAGUE now or in the future. 
 COLLEAGUE expressly acknowledges that ENERGIZER has given him at least
twenty-one (21) days to consider this General Release, both as originally presented to her as Exhibit A to the Agreement and, now, at the conclusion of his employment, and that ENERGIZER also has given her the opportunity to discuss all aspects
of this General Release with an attorney prior to execution. COLLEAGUE states that she has discussed this General Release or, in the alternative, has freely elected to waive any remaining part of the twenty-one (21) days and any further
opportunity to discuss this General Release with an attorney before signing it. 
 COLLEAGUE may revoke this General Release
within seven (7) days after her execution of it. COLLEAGUE’s notice of revocation must be given to ENERGIZER’s Human Resources Department in writing within that seven (7) day period. If COLLEAGUE does revoke this General Release,
ENERGIZER will be relieved of any remaining severance obligations set forth in paragraph 2 of the Agreement. If COLLEAGUE has not revoked this General Release, within seven (7) days, ENERGIZER will remain obligated for the severance
benefits set forth in paragraph 2 of the Agreement. 
 For purposes of this General Release, the term “ENERGIZER”
shall include Energizer Holdings, Inc. and all of its subsidiaries and affiliated companies, predecessors, successors, and assigns of the aforementioned, and all past, present, and future officers, directors, agents, representatives, stockholders,
and employees of any of the foregoing. 
 COLLEAGUE ACKNOWLEDGES SHE HAS READ THIS GENERAL RELEASE CONSISTING OF TWO PAGES, THAT
THE ONLY CONSIDERATION FOR SIGNING THIS GENERAL RELEASE IS THAT STATED IN THE AGREEMENT, THAT NO OTHER PROMISE OR AGREEMENT OF ANY KIND HAS BEEN MADE TO HIM BY ANY PERSON OR ENTITY WHATSOEVER TO CAUSE HIM TO SIGN THIS GENERAL RELEASE, THAT SHE WILL
RECEIVE ONLY THE PAYMENTS AND BENEFITS SPECIFIED IN THE AGREEMENT IN EXCHANGE FOR SIGNING THE AGREEMENT AND THIS GENERAL RELEASE, THAT SHE IS COMPETENT TO EXECUTE THIS GENERAL RELEASE, THAT SHE FULLY UNDERSTANDS THE MEANING AND INTENT OF THIS
GENERAL RELEASE, THAT SHE HAS HAD AN ADEQUATE OPPORTUNITY TO DISCUSS THIS DOCUMENT WITH AN ATTORNEY AND HAS DONE SO OR HAS VOLUNTARILY ELECTED NOT TO DO SO, AND THAT SHE IS VOLUNTARILY EXECUTING IT OF HER OWN FREE WILL. 

 

	
	COLLEAGUE.
	
	  
	Gayle G. Stratmann

  
 9Amendment No. 6 dated as of December 13, 2011, to Employment Agreement

 Exhibit 10.1 
 AMENDMENT NO. 6 TO EMPLOYMENT AGREEMENT 
 THIS AMENDMENT NO. 6 TO
EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into as of December 13, 2011, by and between FTI Consulting, Inc., a Maryland corporation (“Company”), and Dennis J. Shaughnessy
(“Executive”). 
 W I T N E S S E T
H: 
 WHEREAS, Company and Executive entered into an Employment Agreement dated September 20, 2004, which
was amended by Amendment No. 1 thereto dated April 23, 2007, Amendment No. 2 thereto dated December 31, 2008, Amendment No. 3 thereto dated January 2, 2009, Amendment No. 4 thereto dated June 2, 2010, and
Amendment No. 5 thereto dated March 8, 2011 (collectively, the Employment Agreement and Amendments No. 1, No. 2, No. 3, No. 4 and No. 5 thereto, are referred to herein as the “Agreement”);
and 
 WHEREAS, Company and Executive desire to further amend certain terms and conditions of the Agreement as set fort
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment, Company and Executive
hereby agree as follows: 
 1. Retention Award. Executive shall be entitled to receive a lump-sum cash payment in the amount of
$1,500,000 (the “Retention Award”), payable within ten (10) business days following the date hereof, subject to Executive’s continued employment with the Company on the applicable date of payment. In the event that
Executive’s employment with Company terminates as a result of a termination by Company for “Cause” (as defined in Section 9(b) of the Agreement) or by Executive without “Good Reason” (as defined in Section 9(e) of
the Agreement) at any time prior to December 31, 2013, Executive shall be required to repay to Company, within thirty (30) days following the date of such termination, a pro rata portion of the Retention Award calculated by multiplying the
total amount of the Retention Award by a fraction, the numerator of which is the number of calendar days remaining in the two (2)-year period from January 1, 2012 through December 31, 2013 following the date of such termination and the
denominator of which is 730. The foregoing payment shall be subject to withholding for all federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

2. Equity Grant. Executive shall be granted $2,000,000 worth of common stock of Company, valued as of the date of this Amendment
(the “Equity Grant”). The Equity Grant shall vest in seven (7) equal annual installments, beginning on the first anniversary of the date of this Amendment and continuing on the following six (6) anniversaries of the
date of this Amendment, provided that Executive is employed with Company on each such anniversary, such that the Equity Grant will be fully vested on the seventh anniversary of the date of this Amendment. The Equity Grant will vest in full
immediately upon the termination of Executive’s employment (i) by Company without 

  
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“Cause” (as defined in Section 9(b) of the Agreement), (ii) by Executive with “Good Reason” (as defined in Section 9(e) of the Agreement), or (iii) due to
Executive’s death or “Disability” (as defined in Section 9(d) of the Agreement), and will have such other terms and conditions as are contained in Company’s standard form of restricted stock award agreement. Vesting of the
Equity Grant will continue through the Transition Period and through any period during which Executive is serving as a member of the Board of Directors of the Company. 
 3. Term of Employment. Section 2(a) of the Agreement is hereby amended and restated in its entirety as follows: 

“(a) Employment Term. Executive’s full-time employment under this Agreement will begin as of
October 18, 2004 (the “Effective Date”) and continue for a term to and including December 31, 2013 (the “Employment Term”) or such earlier date as Executive’s employment terminates under
Section 9.” 
 4. Good Reason Definition. Section 9(e) of the Agreement is hereby amended and restated in
its entirety as follows: 
 “(e) Termination by Executive for Good Reason. Executive may resign for
“Good Reason” if, without Executive’s prior written consent: 
 (i)
Company assigns Executive duties materially and adversely inconsistent with Executive’s positions as described in this Agreement; 
 (ii) there occurs a material diminution in Executive’s titles, duties, responsibilities or status (which the parties acknowledge and agree shall occur if Company ceases to be a public company);

 (iii) Company materially reduces Executive’s target annual bonus level for any year below the target for
the preceding year, other than as a result of a decline in Company’s results of operations or other adverse event; 
 (iv) Company materially breaches a material provision of this Agreement; or 
 (v) Company changes Executive’s principal place of employment to a place other than Baltimore, Maryland, New York, New York, West Palm Beach, Florida or such other location as may be mutually
agreeable to Executive and Company. 
 Before resigning for Good Reason, Executive must specify in writing to
Company the nature of the act or omission that Executive deems to constitute Good Reason and, if the situation can be cured, give 

  
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Company at least 30 days after receipt of such notice to correct the situation (and thus prevent Executive’s resignation for Good Reason). Upon the effectiveness of any such termination for
Good Reason, Executive’s obligations during the Transition Period shall commence pursuant to Section 3(b).” 
 5.
Change of Control Severance. The introductory paragraph of Section 10(c) of the Agreement is hereby amended and restated in its entirety as follows: 
 “(c) On or After a Change of Control — Termination by Company Without Cause or by Executive for Good Reason. Executive will be entitled to receive the payments and benefits set forth in
this Section 10(c), in lieu of the payments and benefits set forth in Section 10(b), if Executive’s employment is terminated during the Employment Term (1) by Executive for Good Reason coincident with or during the 24-month
period after a Change of Control occurs, or (2) by Company without Cause coincident with or during the 24-month period after a Change of Control occurs:” 
 6. Section 280G Matters. Section 11 of the Agreement is hereby amended and restated in its entirety as follows: 

“Section 11. Section 280G Matters. Notwithstanding any other provision of this Agreement to the contrary,
in the event that any payment that is either received by Executive or paid by Company on Executive’s behalf or any property, or any other benefit provided to Executive under this Agreement or under any other plan, arrangement or agreement with
Company or any other person whose payments or benefits are treated as contingent on a change of ownership or control of Company (or in the ownership of a substantial portion of the assets of Company) or any person affiliated with Company or such
person (but only if such payment or other benefit is in connection with Executive’s employment by Company) (collectively the “Company Payments”), will be subject to the tax (the “Excise Tax”)
imposed by Section 4999 of the Internal Revenue Code (and any similar tax that may hereafter be imposed by any taxing authority), then Executive will be entitled to receive either (i) the full amount of the Company Payments, or (ii) a
portion of the Company Payments having a value equal to $1 less than three (3) times Executive’s “base amount” (as such term is defined in Section 280G(b)(3)(A) of the Internal Revenue Code), whichever of clauses
(i) and (ii), after taking into account applicable federal, state, and local income taxes and the excise tax imposed by Section 4999 of the Internal Revenue Code, results in the receipt by Executive on an after-tax basis, of the greatest
portion of the Company Payments. Any determination required under this Section 11 shall be made in writing by the independent public accountant of Company (the “Accountants”), whose determination shall be conclusive and
binding for all purposes upon Company and Executive. For purposes 

  
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of making any calculation required by this Section 11, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good-faith
interpretations concerning the application of Sections 280G and 4999 of the Internal Revenue Code. If there is a reduction of the Company Payments pursuant to this Section 11, such reduction shall occur in the following order: (A) any cash
severance payable by reference to Executive’s Base Salary or annual bonus, (B) any other cash amount payable to Executive, (C) any employee benefit valued as a “parachute payment,” and (D) acceleration of vesting of any
outstanding equity award. For the avoidance of doubt, in the event that additional Company Payments are made to Executive after the application of the cutback in this Section 11, which additional Company Payments result in the cutback no longer
being applicable, Company shall pay Executive an additional amount equal to the value of the Company Payments that were originally cutback. Company shall determine at the end of each calendar year whether any such restoration is necessary based on
additional Company Payments (if any) made during such calendar year, and shall pay such restoration within ninety (90) days following the last day of such calendar year. For the avoidance of doubt, in no event whatsoever shall Executive be
entitled to a tax gross-up or other payment in respect of any Excise Tax, interest or penalties that may be imposed on the Company Payments by reason of the application of Section 280G or Section 4999 of the Internal Revenue Code.”

 7. Affirmation. This Amendment is to be read and construed with the Agreement as constituting one and the same
agreement. Except as specifically modified by this Amendment, all remaining provisions, terms and conditions of the Agreement shall remain in full force and effect. 
 8. Defined Terms. All terms not herein defined shall have the meanings ascribed to them in the Agreement. 
 9. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

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 IN WITNESS WHEREOF, the undersigned have signed this Amendment on the date first
above written. 
  

			
	FTI CONSULTING, INC.
		
	By:	 	 /S/ ERIC B. MILLER

	Name:	 	Eric B. Miller
	Title:	 	Executive Vice President and General Counsel
	
	EXECUTIVE
		
	By:	 	 /S/ DENNIS J. SHAUGHNESSY

		 	Dennis J. Shaughnessy

  
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