Document:

Corrected Fiscal Year 2007 Performance Share Program Award Agreement

 Exhibit 10.1 
 Hewitt 
 FY2007 
 Performance Share
Program Award Agreement 
 Name 
 Hewitt ID

 Segment 
 Location 
 Congratulations on your selection as a Participant in the Performance Share Program (“Program”) which is governed by the Hewitt Associates, Inc. 2002 Global
Stock and Incentive Compensation Plan (the “Plan”). This Award Agreement and the Plan together govern your rights under the Program and set forth all of the conditions and limitations affecting such rights. Terms used in this Award
Agreement that are defined in the Plan shall have the meanings ascribed to them in the Plan. If there is any inconsistency between the terms of this Award Agreement and the terms of the Plan, the Plan’s terms shall supersede and replace the
conflicting terms of this Award Agreement. For purposes of this Agreement, “Hewitt” means the Company, its Affiliates, and/or its Subsidiaries. 
 Overview of Your Performance Share Units 
  

	1.	Number of Performance Share Units Granted: 

  

	2.	Date of Grant:  

  

	3.	Performance Cycle. The Performance Cycle commences on October 1, 2006, and ends on September 30, 2007. 

  

	4.	Vesting Cycle. The Vesting Cycle commences upon date of grant and ends on September 30, 2009 at which point all units earned shall be fully vested.

  

	5.	Performance Measure(s): The measures used to determine payouts under this program include the following: 

  

	 	(a)	“Earnings Per Share,” 

  

	 	(b)	“Pretax Operating Income,” and 

  

	 	(c)	“Direct Revenue.” 

 These measures are defined in
the 2007 Operating Plan. 
  

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	6.	Amount of Award Earned. The amount distributable to the Participant under the Award Agreement shall be equal to the number of Performance Share Units granted in
Section 1 multiplied by the Earned Percent of Performance Share Units Awarded, determined in accordance with the following schedule: 

  

							
	Payout Percent	 	EPS (50%)	 	 Pretax Operating
 Income (30%)
	 	 Direct Revenue
 (20%)

  

	 	—	Loss reserve on Outsourcing contracts and severance expenses will not count against goals for current contracts 

  

	 	—	Divestitures will also not count in achieving goals (if we have gains/losses) 

  

	 	—	Share buybacks will not impact goals 

  

	 	—	Direct Revenue excludes pass-through revenue 

 If financial
results fall between the figures shown here, the corresponding earned award would be interpolated from the payout percents shown above. 
  

	7.	Revision of Performance Measures. The Performance Measures set forth in this Award Agreement may be modified by the Committee during, and after the end of, the Performance
Cycle to reflect significant events that occur during the Performance Cycle; provided, however, that if the Participant is or will be a Covered Employee for purposes of Code Section 162(m), then such modification can only be undertaken in a
manner consistent with the requirements of Section 162(m) and the regulations thereunder. 

  

	8.	Settlement of Award. Hewitt shall deliver to you one Share of common stock for each Performance Share Unit earned by you, as determined in accordance with the provisions of
Section 6, or, in the alternative at the sole discretion of Hewitt, Hewitt shall deliver to you the cash value of each Performance Share Unit earned by you. Any fractional Shares of common stock for Performance Share Unit payable to you in
accordance with this Section shall be rounded up to the nearest whole Share of common stock. 

  

	9.	Time of Payment. Except as otherwise provided in this Award Agreement, payment in cash or Shares of common stock, earned pursuant to this Performance Share Program Award
Agreement, will be made within two and one-half months (2-1/2) after the end of the vesting cycle, in accordance with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), if applicable.
However, if you are an Officer of the Company, at the end of the calendar year preceding the removal of restrictions, and the removal of restrictions is due to your separation of service from the Company, the units will be converted to shares six
months after your separation of service or two and one-half months (2-1/2) after the end of the vesting cycle, whichever is later. In no event shall any payment hereunder be accelerated except as permitted in accordance with Code Section 409A.

  

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	10.	Eligibility for Earned Performance Shares. You will be eligible for payment of earned Performance Shares, as specified in Section 8, only if your employment with Hewitt:

  

	 	(a)	Continues through the end of the Vesting Cycle; 

  

	 	(b)	Is terminated due to Death during the Vesting Cycle; or 

  

	 	(c)	Is terminated due to Disability, pursuant to the standards set forth in the Hewitt Associates, Inc. Long-Term Disability Plan, during the Vesting Cycle. 

 If your termination date due to Death or Disability occurs during the Vesting Cycle, you shall be eligible for Performance Shares payout only if your termination occurs
after the end of the Performance Cycle. Distribution of any earned shares would occur after the Vesting Cycle as specified in Section 9. In the event of your death, your beneficiary or estate shall be entitled to the earned Performance Shares
to which you otherwise would have been entitled under the same conditions as would have been applicable to you. 
 All Performance Shares earned under
Section 10(b) and 10(c) shall be made payable in accordance with Section 9. 
 11. Termination of Employment for Other Reasons: In the event
that your employment with Hewitt terminates during the Vesting Cycle, for any reason other than those reasons set forth in Paragraphs 10(b) through 10(c), this entire award shall forfeit and no payment shall be made to you. 
 12. Nontransferability: During the Vesting Cycle, Performance Share Units awarded pursuant to this Award Agreement may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated (“Transfer”), other than by will or by the laws of descent and distribution, except as provided in the Plan. If any Transfer, whether voluntary or involuntary, of Performance Share Units is
made, or if any attachment, execution, garnishment, or lien shall be issued against or placed upon the Performance Shares Units your right to such Performance Share Units shall be immediately forfeited to Hewitt, and this Award Agreement shall
lapse. 
 13. Change in Control: In the event of a Change in Control that meets the requirements of Section 409A of the IRS Code, all units
granted under this plan will become 100% earned and delivered as if a target level of performance had been achieved as set forth in this Award Agreement, and thereafter such Shares shall be freely transferable, subject to applicable federal, state,
and local, domestic or foreign, securities laws. In the event the Change in Control does not meet the requirements of Section 409A of the IRS Code, the units will become fully vested and will later be converted to shares and delivered to you at
such time delivery would have occurred absent such Change in Control. 
 14. Requirements of Law: The granting of Performance Shares under the Plan
shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 15. Inability to Obtain Authorization: The inability of Hewitt to obtain authority from any regulatory body having jurisdiction, which authority is deemed by Hewitt’s counsel to be necessary to the lawful
issuance and sale of any Shares hereunder, shall relieve Hewitt of any liability with respect to the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
  

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 16. Tax Withholding: Hewitt shall have the power and the right to deduct or withhold, or require you or your
beneficiary to remit to Hewitt, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Award Agreement.

 17. Share Withholding: With respect to withholding required upon any other taxable event arising as a result of awards granted hereunder, you may
elect, subject to the approval of the Board, to satisfy the withholding requirement, in whole or in part, by having Hewitt withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax
which could be withheld on the transaction. All such elections shall be irrevocable, made in writing, signed, and shall be subject to any restrictions or limitations that the Board, in its sole discretion, deems appropriate. 
 18. Administration: This Award Agreement and your rights hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time
to time, as well as to such rules and regulations as the Board may adopt for administration of the Plan. It is expressly understood that the Board is authorized to administer, construe, and make all determinations necessary or appropriate to the
administration of the Plan and this Award Agreement, all of which shall be binding upon you, the Participant. 
 19. No Right to Future Grants; No Right
of Employment or Continued Employment; Extraordinary Item: In accepting the grant, you acknowledge that: (a) the Plan is established voluntarily by Hewitt, it is discretionary in nature and it may be modified, suspended or terminated by
Hewitt at any time, as provided in the Plan and this Award Agreement; (b) the grant is voluntary and occasional and does not create any contractual or other right to receive future grants; (c) all decisions with respect to future grants,
if any, will be at the sole discretion of Hewitt; (d) your participation in the Plan is voluntary; (e) the grant is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to Hewitt and
which is outside the scope of your employment contract, if any; (f) the grant is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination,
redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (g) in the event that you are an employee of an Affiliate or Subsidiary of the Company, the grant will not be interpreted to
form an employment contract or relationship with the Company; and furthermore, the grant will not be interpreted to form an employment contract with the Affiliate or Subsidiary that is your employer; (h) this grant shall not confer upon you any
right to continuation of employment by Hewitt, nor shall this grant interfere in any way with Hewitt’s right to terminate your employment at any time; (i) the future value of the underlying Shares is unknown and cannot be predicted with
certainty; (j) notwithstanding any terms or conditions of the Plan to the contrary, in the event of involuntary termination of your employment, your right to receive Shares under the Plan, if any, will terminate effective as of the date that
you are no longer actively employed and will not be extended by any notice period mandated under any federal, state, provincial, or local law (including but not limited to the Worker Adjustment and Retraining Notification Act). 
 20. Amendment to the Plan: The Board may terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan
may in any way adversely affect your rights under this Award Agreement, without your written approval or cause the settlement of any portion of your award that is considered deferred compensation subject to Section 409A of the IRS Code to be
accelerated unless such acceleration does not result in penalties under Section 409A of the IRS Code. 
  

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 21. Successor: All obligations of Hewitt under the Plan and this Award Agreement, with respect to the Performance
Shares, shall be binding on any successor to Hewitt, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of Hewitt.

 22. Applicable Laws and Consent to Jurisdiction: The validity, construction, interpretation, and enforceability of this Award Agreement shall be
determined and governed by the laws of the State of Illinois without giving effect to the principles of conflicts of law. For the purpose of litigating any dispute that arises under this Award Agreement, the parties hereby consent to exclusive
jurisdiction and agree that such litigation shall be conducted in the federal or state courts of the State of Illinois. 
 23. Severability: The
provisions of this Award Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 24. Effect of Failure to Sign. If you do not sign and return the attached Performance Share Program Award Acknowledgement to Margaret Kuretich, Total Rewards,
Lincolnshire by 24 May 2007, then this Award Agreement and the Performance Shares it conveys shall be forfeited, null, and void. 
  

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 Performance Share Program Award Acknowledgement 

 Please acknowledge your agreement to participate in the Plan, receive Performance Shares under the FY2007 Performance Share Program Award Agreement, and to abide by all
of the governing terms and provisions, by signing the following acknowledgement and agreement and returning it to Margaret Kuretich of Hewitt Associates Total Rewards, Lincolnshire, by 24 May 2007. 
 Agreement to Participate 
 By signing this
Acknowledgement and returning it to the Margaret Kuretich of Hewitt Associates Total Rewards, Lincolnshire, I acknowledge that I have read the Plan and the FY2007 Performance Share Program Award Agreement dated 1 December 2006, Rev.
3 May, 2007, and that I fully understand all of my rights under the Plan and the FY2007 Performance Share Program Award Agreement, as well as all of the terms and conditions which may limit my eligibility to retain or receive the
Performance Shares or Shares issued to me pursuant to the Plan and the FY2007 Performance Share Program Award Agreement. 
  

							
	  
	 		 	  
	 	
	Date	 		 	Participants’ Signature	 	
				
		 		 	  
	 	
		 		 	Participants’ Printed Name	 	

  

 6Employment letter dated April 16, 2007 to Jay Rising

 Exhibit 10.2 
  

			
	  
 

  
 

	  	 Revised: April 16, 2007
  
 March 30, 2007
  
 Private and Confidential
  
 Dear Jay:
  
 We are delighted to extend an offer to you to join Hewitt Associates as the President of our HR
Outsourcing Segment. This letter confirms the terms and conditions of our offer, which are subject to both your acceptance and to approval by Hewitt’s Board of Directors.
  
 •   An annualized base salary of
$490,000 on a regular, full-time, exempt basis with a performance and pay review in December of 2007, and annually thereafter assuming strong individual performance;
  
 •   You will be eligible for a bonus target of 70% of your actual fiscal year base pay earnings. Any award
payout will be based on your individual and financial results relative to goals established by you and your manager, and business financial goals. Bonus awards are based on contributions and results through our fiscal year end, September 30,
2007, and are currently planned to be paid in mid-December 2007. You are guaranteed a minimum payout in the first year. This guaranteed payout will be calculated based on your full annual bonus target prorated from your first day of employment
through September 30, 2007. You must be employed by Hewitt on the payout date to be eligible to receive an award;
  
 •   Eligibility to participate in our Global Stock Plan, which is based on both role and performance. The
next grant date is targeted for December 2007. Last year business leaders at this level in the organization received 40,000 stock options and 13,500 performance-based shares. (Please see below for more information about the payout potential for
performance-based shares.) While we have not yet finalized the design of this year’s planned equity grant, we anticipate awards to business leaders to be equivalent to last’year’s grant;

			
	  
 

  
	  	 Revised: April 16, 2007
 Mr. Jay C.
Rising
 Page 2
 March 30, 2007
  
 •   A one-time sign-on equity grant of
10,000 restricted stock units, 10,000 stock options and 7,000 shares of performance-based Hewitt stock. The restricted stock units and stock options would vest 50% after two years (April 1, 2009) with the remaining 50% vesting as of April 1,
2010. Payout of the performance-based shares is based on the Company’s achievement of earnings per share, operating income, and revenue goals as established for other senior corporate officers, and can range from 0% to 200% of the target grant
amount. These shares would vest 100% as of September 30, 2009;
  
 •   A sign-on bonus of $50,000 in the event that your present employer refuses to pay the quarterly cash bonus for which you are currently eligible and due to be paid on April 30,
2007.
  
 •   Participation in
our Executive Benefits Plan which consists of the following:
  
 —Twenty-seven days of vacation/personal time annually;
  
 —An additional five-week vacation splash after five years of service and every five years thereafter;
  
 —A voluntary Deferral Plan for base pay and annual
incentive; and a Defined Contribution Restoration Plan which provides for the company retirement contribution and company 401(k) match above any qualified limits;
  
 •   Participation in Hewitt Associates’ Financial Security Plans, including an annual company Retirement
and Savings Plan contribution and a company 401(k) match;
  
 •   Participation in our Change-in-Control Executive Severance Program. In addition, if you are involuntarily separated from Hewitt within the first 36 months of your employment for reasons other
than cause or change-in-control you will be eligible for:
  
 —One year of severance (base pay plus annual bonus target);
  
 —12 months of health coverage continuation;
  

—Immediate vesting of the one-time sign-on equity grant of 10,000 restricted stock units, and 10,000 stock
options;

			
	

	  	 Revised: April 16, 2007
 Mr. Jay C.
Rising
 Page 3
 March 30, 2007
  
 —To the extent that financial thresholds specified in
your initial grant of 7,000 performance-based Hewitt shares are achieved prior to separation they would also immediately vest;
  
 •   You will be receiving Hewitt’s Relocation Policy; and
  
 •   Eligibility for coverage under our
comprehensive benefits programs described in the enclosed benefits booklet.
  
 This role
positions you as a leader in the company and a member of the Hewitt Leadership Group (HLG). As a member of the HLG, you will be subject to Hewitt’s stock ownership guidelines and will be required to abide by Hewitt’s non-compete
agreement.
  
 This offer is contingent upon Hewitt receiving completed and satisfactory
background and reference checks, including our review of an investigative consumer report. In addition, this offer is contingent upon approval by the Board of Directors. Enclosed is a copy of Hewitt’s Confidentiality Agreement for your review.
Please call us if you have any questions about its meaning.
  
 We recognize that you
retain the option, as does Hewitt, of ending your employment with the company at any time, with or without notice and with or without cause. As such, your employment with Hewitt is at-will and neither this letter, nor any other oral or written
representations may be considered a contract for any specific period of time.
  
 Jay, we
look forward to a positive response. If there is any additional information you need to help you make your decision, please feel free to contact me.
  
 Sincerely,
  
 Hewitt Associates LLC
  
 /s/ P. Artell Smith
 P. Artell
Smith
 HRO Human Resources Global Leader
  
 PAS:tmg
 Enclosures
 cc: Mr. Russell P, Fradin, Hewitt Associates

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