Document:

EX-10.59

Exhibit 10.59

AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

          THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is effective as of July 2,
2008 (the “Effective Date”), by and between FIDELITY NATIONAL INFORMATION SERVICES, INC., a Georgia
corporation (the “Company”), and BRENT B. BICKETT (the “Employee”). In consideration of the mutual
covenants and agreements set forth herein, the parties agree as follows:

     1. Purpose. This Agreement amends and restates, in its entirety, the obligations of
the parties under the agreement between the Company and the Employee, dated as of October 24, 2006
(the “Prior Agreement”). The purpose of this Agreement is to recognize the Employee’s significant
contributions to the overall financial performance and success of the Company and to provide a
single, integrated document which shall provide the basis for the Employee’s continued employment
by the Company.

     2. Employment and Duties. Subject to the terms and conditions of this Agreement, the
Company employs the Employee to serve in an executive capacity as Executive Vice President,
Strategic Planning. The Employee accepts such employment and agrees to undertake and discharge the
duties, functions and responsibilities commensurate with the aforesaid position and such other
duties and responsibilities as may be prescribed from time to time by the Chief Executive Officer
(the “CEO”) or the Board of Directors of the Company (the “Board”). Except as expressly provided
in Subsection 13(c), the Employee shall devote substantially all of his business time, attention
and effort to the performance of his duties hereunder and shall not engage in any business,
profession or occupation, for compensation or otherwise without the express written consent of the
CEO, other than personal, personal investment, charitable, or civic activities or other matters
that do not conflict with the Employee’s duties.

     3. Term. The term of this Agreement shall commence on the Effective Date and shall
continue for a period of three (3) years ending on the third anniversary of the Effective Date or,
if later, ending on the last day of any extension made pursuant to the next sentence, subject to
prior termination as set forth in Section 8 (such term, including any extensions pursuant to the
next sentence, the “Employment Term”). The Employment Term shall be extended automatically for one
(1) additional year on the first anniversary of the Effective Date and for an additional year each
anniversary thereafter unless and until either party gives written notice to the other not to
extend the Employment Term before such extension would be effectuated. Notwithstanding any
termination of the Employment Term or the Employee’s employment, the Employee and the Company agree
that Sections 8 through 10 shall remain in effect until all parties’ obligations and benefits are
satisfied thereunder.

     4. Salary. During the Employment Term, the Company shall pay the Employee an annual
base salary, before deducting all applicable withholdings, of no less than $337,500 per year,
payable at the time and in the manner dictated by the Company’s standard payroll policies. Such
minimum annual base salary may be periodically reviewed and increased (but not decreased without
the Employee’s express written consent) at the discretion of the Board or the Compensation
Committee of the Board (the “Committee”) to reflect, among other matters, cost

 

 

of living increases and performance results (such annual base salary, including any increases
pursuant to this Section 4, the “Annual Base Salary”).

     5. Other Compensation and Fringe Benefits. In addition to any executive bonus,
pension, deferred compensation and long-term incentive plans which the Company or an affiliate of
the Company may from time to time make available to the Employee, the Employee shall be entitled to
the following during the Employment Term:

	 	(a)	 	the standard Company benefits enjoyed by the Company’s other top executives as
a group;
	 
	 	(b)	 	medical and other insurance coverage (for the Employee and any covered
dependents) provided by the Company to its other top executives as a group, which the
Employee has not elected to receive as of the date hereof because he receives such
insurance coverage from another employer;
	 
	 	(c)	 	supplemental disability insurance sufficient to provide two-thirds of the
Employee’s pre-disability Annual Base Salary, which the Employee has not elected to
receive as of the date hereof because he receives such insurance coverage from another
employer;
	 
	 	(d)	 	an annual incentive bonus opportunity under the Company’s annual incentive plan
(“Annual Bonus Plan”) for each calendar year included in the Employment Term, with such
opportunity to be earned based upon attainment of performance objectives established by
the Committee (“Annual Bonus”). The Employee’s target Annual Bonus under the Annual
Bonus Plan shall be no less than 150% of the Employee’s Annual Base Salary
(collectively, the target and maximum are referred to as the “Annual Bonus
Opportunity”). The Employee’s Annual Bonus Opportunity may be periodically reviewed
and increased (but not decreased without the Employee’s express written consent) at the
discretion of the Committee. The Annual Bonus shall be paid no later than the March
15th first following the calendar year to which the Annual Bonus relates.
Unless provided otherwise herein or the Board determines otherwise, no Annual Bonus
shall be paid to the Employee unless the Employee is employed by the Company, or an
affiliate thereof, on the Annual Bonus payment date; and
	 
	 	(e)	 	participation in the Company’s equity incentive plans.

     6. Vacation. For and during each calendar year within the Employment Term, the
Employee shall be entitled to reasonable paid vacation periods consistent with the Employee’s
position and in accordance with the Company’s standard policies, or as the Board may approve. In
addition, the Employee shall be entitled to such holidays consistent with the Company’s standard
policies or as the Board or the Committee may approve.

     7. Expense Reimbursement. In addition to the compensation and benefits provided
herein, the Company shall, upon receipt of appropriate documentation, reimburse the Employee each
month for his reasonable travel, lodging, entertainment, promotion and other ordinary and

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necessary business expenses to the extent such reimbursement is permitted under the Company’s
expense reimbursement policy.

     8. Termination of Employment. The Company or the Employee may terminate the
Employee’s employment at any time and for any reason in accordance with Subsection 8(a) below. The
Employment Term shall be deemed to have ended on the last day of the Employee’s employment. The
Employment Term shall terminate automatically upon the Employee’s death.

	 	(a)	 	Notice of Termination. Any purported termination of the Employee’s
employment (other than by reason of death) shall be communicated by written Notice of
Termination (as defined herein) from one party to the other in accordance with the
notice provisions contained in Section 25. For purposes of this Agreement, a “Notice
of Termination” shall mean a notice that indicates the Date of Termination (as that
term is defined in Subsection 8(b)) and, with respect to a termination due to
Disability (as that term is defined in Subsection 8(e)), Cause (as that term is defined
in Subsection 8(d)), or Good Reason (as that term is defined in Subsection 8(f)), sets
forth in reasonable detail the facts and circumstances that are alleged to provide a
basis for such termination. A Notice of Termination from the Company shall specify
whether the termination is with or without Cause or due to the Employee’s Disability.
A Notice of Termination from the Employee shall specify whether the termination is with
or without Good Reason.
	 
	 	(b)	 	Date of Termination. For purposes of this Agreement, “Date of
Termination” shall mean the date specified in the Notice of Termination (but in no
event shall such date be earlier than the thirtieth (30th) day following the
date the Notice of Termination is given) or the date of the Employee’s death.
	 
	 	(c)	 	No Waiver. The failure to set forth any fact or circumstance in a
Notice of Termination, which fact or circumstance was not known to the party giving the
Notice of Termination when the notice was given, shall not constitute a waiver of the
right to assert such fact or circumstance in an attempt to enforce any right under or
provision of this Agreement.
	 
	 	(d)	 	Cause. For purposes of this Agreement, a termination for “Cause” means
a termination by the Company based upon the Employee’s: (i) persistent failure to
perform duties consistent with a commercially reasonable standard of care (other than
due to a physical or mental impairment or due to an action or inaction directed by the
Company that would otherwise constitute Good Reason); (ii) willful neglect of duties
(other than due to a physical or mental impairment or due to an action or inaction
directed by the Company that would otherwise constitute Good Reason); (iii) conviction
of, or pleading nolo contendere to, criminal or other illegal activities involving
dishonesty; (iv) material breach of this Agreement; or (v) failure to materially
cooperate with or impeding an investigation authorized by the Board. The Employee’s
termination for Cause shall be effective when and if a resolution is duly adopted by an
affirmative vote of at least 3/4 of the Board (less the Employee), stating that, in the
good faith

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	 	 	 	 opinion of the Board, the Employee is guilty of the conduct described in the Notice
of Termination and such conduct constitutes Cause under this Agreement;
provided, however, that the Employee shall have been given
reasonable opportunity (A) to cure any act or omission that constitutes Cause if
capable of cure and (B), together with counsel, during the thirty (30) day period
following the receipt by the Employee of the Notice of Termination and prior to the
adoption of the Board’s resolution, to be heard by the Board.
	 
	 	(e)	 	Disability. For purposes of this Agreement, a termination based upon
“Disability” means a termination by the Company based upon the Employee’s entitlement
to long-term disability benefits under the Company’s long-term disability plan or
policy, as the case may be, as in effect on the Date of Termination; provided,
however, that if the Employee is not a participant in the Company’s long-term
disability plan or policy on the Date of Termination, he shall still be considered
terminated based upon Disability if he would have been entitled to benefits under the
Company’s long-term disability plan or policy had he been a participant on his Date of
Termination.
	 
	 	(f)	 	Good Reason. For purposes of this Agreement, a termination for “Good
Reason” means a termination by the Employee during the Employment Term based upon the
occurrence (without the Employee’s express written consent) of any of the following:

	 	(i)	 	a material diminution in the Employee’s position or title, or
the assignment of duties to the Employee that are materially inconsistent with
the Employee’s position or title;
	 
	 	(ii)	 	a material diminution in the Employee’s Annual Base Salary or
Annual Bonus Opportunity;
	 
	 	(iii)	 	within six (6) months immediately preceding or within two (2)
years immediately following a Change in Control: (A) a material adverse change
in the Employee’s status, authority or responsibility (e.g., the Company has
determined that a change in the department or functional group over which the
Employee has managerial authority would constitute such a material adverse
change); (B) a material adverse change in the position to whom the Employee
reports (including any requirement that the Employee report to a corporate
officer or employee instead of reporting directly to the CEO) or to the
Employee’s service relationship (or the conditions under which the Employee
performs his duties) as a result of such reporting structure change, or a
material diminution in the authority, duties or responsibilities of the
position to whom the Employee reports; (C) a material diminution in the budget
over which the Employee has managing authority; or (D) a material change in the
geographic location of the Employee’s principal place of employment (e.g., the
Company has determined that a relocation of more than thirty-five (35) miles
would constitute such a material change); or

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	 	(iv)	 	a material breach by the Company of any of its obligations
under this Agreement.

Notwithstanding the foregoing, the Employee being placed on a paid leave for up to sixty (60) days
pending a determination of whether there is a basis to terminate the Employee for Cause shall not
constitute Good Reason. The Employee’s continued employment shall not constitute consent to, or a
waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder;
provided, however, that no such event described above shall constitute Good Reason
unless: (1) the Employee gives Notice of Termination to the Company specifying the condition or
event relied upon for such termination either: (x) within ninety (90) days of the initial existence
of such event; or (y) in the case of an event predating a Change in Control, within ninety (90)
days of the Change in Control; and (2) the Company fails to cure the condition or event
constituting Good Reason within thirty (30) days following receipt of the Employee’s Notice of
Termination.

     9. Obligations of the Company Upon Termination.

	 	(a)	 	Termination by the Company for a Reason Other than Cause, Death or
Disability and Termination by the Employee for Good Reason. If the Employee’s
employment is terminated by: (1) the Company for any reason other than Cause, Death or
Disability; or (2) the Employee for Good Reason:

	 	 (i)	 	the Company shall pay the Employee the following (collectively,
the “Accrued Obligations”): (A) within five (5) business days after the Date of
Termination, any earned but unpaid Annual Base Salary; (B) within a reasonable
time following submission of all applicable documentation, any expense
reimbursement payments owed to the Employee for expenses incurred prior to the
Date of Termination; and (C) no later than March 15th of the year in
which the Date of Termination occurs, any earned but unpaid Annual Bonus
payments relating to the prior calendar year;
	 
	 	 (ii)	 	the Company shall pay the Employee no later than March
15th of the calendar year following the year in which the Date of
Termination occurs, a prorated Annual Bonus based upon the actual Annual Bonus
that would have been earned by the Employee for the year in which the Date of
Termination occurs (based upon the target Annual Bonus Opportunity in the year
in which the Date of Termination occurred, or the prior year if no target
Annual Bonus Opportunity has yet been determined, and the actual satisfaction
of the applicable performance measures, but ignoring any requirement under the
Annual Bonus plan that the Employee must be employed on the payment date)
multiplied by the percentage of the calendar year completed before the Date of
Termination;
	 
	 	 (iii)	 	the Company shall pay the Employee, no later than the
sixty-fifth (65th) calendar day after the Date of Termination, a
lump-sum payment equal to 200% of the sum of: (A) the Employee’s Annual Base
Salary in effect immediately prior to the Date of Termination (disregarding any
reduction

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	 	 	 	in Annual Base Salary to which the Employee did not expressly consent in
writing); and (B) the highest Annual Bonus paid to the Employee by the
Company within the three (3) years preceding his termination of employment
or, if higher, the target Annual Bonus Opportunity in the year in which the
Date of Termination occurs;
	 
	 	(iv)	 	all stock option, restricted stock and other equity-based
incentive awards granted by the Company that were outstanding but not vested as
of the Date of Termination shall become immediately vested and/or payable, as
the case may be, unless the equity incentive awards are based upon satisfaction
of performance criteria (not based solely on the passage of time); in which
case, they will only vest pursuant to their express terms; and
	 
	 	(v)	 	the Company shall provide the Employee with certain continued
welfare benefits as follows:

	 	(A)	 	Any life insurance coverage provided by the
Company shall terminate at the same time as life insurance coverage
would normally terminate for any other employee that terminates
employment with the Company, and the Employee shall have the right to
convert that life insurance coverage to an individual policy under the
regular rules of the Company’s group policy. In addition, if the
Employee is covered under or receives life insurance coverage provided
by the Company on the Date of Termination, then within thirty (30)
business days after the Date of Termination, the Company shall pay the
Employee a lump sum cash payment equal to thirty-six (36) monthly life
insurance premiums based on the monthly premiums that would be due
assuming that the Employee had converted his Company life insurance
coverage that was in effect on the Notice of Termination into an
individual policy.
	 
	 	(B)	 	As long as the Employee pays the full monthly
premiums for COBRA coverage, the Company shall provide the Employee
and, as applicable, the Employee’s eligible dependents with continued
medical and dental coverage, on the same basis as provided to the
Company’s active executives and their dependents until the earlier of:
(i) three (3) years after the Date of Termination; or (ii) the date the
Employee is first eligible for medical and dental coverage (without
pre-existing condition limitations) with a subsequent employer. In
addition, within thirty (30) business days after the Date of
Termination, the Company shall pay the Employee a lump sum cash payment
equal to thirty-six (36) monthly medical and dental COBRA premiums
based on the level of coverage in effect for the Employee (e.g.,
employee only or family coverage) on the Date of Termination.

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	 	(b)	 	Termination by the Company for Cause and by the Employee without Good
Reason. If the Employee’s employment is terminated (i) by the Company for Cause or
(ii) by the Employee without Good Reason, the Company’s only obligation under this
Agreement shall be payment of any Accrued Obligations.
	 
	 	(c)	 	Termination due to Death or Disability. If the Employee’s employment
is terminated due to death or Disability, the Company shall pay the Employee (or to the
Employee’s estate or personal representative in the case of death), within thirty (30)
business days after the Date of Termination: (i) any Accrued Obligations, plus (ii) a
prorated Annual Bonus based upon the target Annual Bonus opportunity in the year in
which the Date of Termination occurred (or the prior year if no target Annual Bonus
Opportunity has yet been determined) multiplied by the percentage of the calendar year
completed before the Date of Termination.
	 
	 	(d)	 	Definition of Change in Control. For purposes of this Agreement, the
term “Change in Control” shall mean that the conditions set forth in any one of the
following subsections shall have been satisfied:

	 	(i)	 	the acquisition, directly or indirectly, by any “person”
(within the meaning of Section 3(a)(9) of the Securities and Exchange Act of
1934, as amended (the “Exchange Act”) and used in Sections 13(d) and 14(d)
thereof) of “beneficial ownership” (within the meaning of Rule 13d-3 of the
Exchange Act) of securities of the Company possessing more than fifty percent
(50%) of the total combined voting power of all outstanding securities of the
Company;
	 
	 	(ii)	 	a merger or consolidation in which the Company is not the
surviving entity, except for a transaction in which the holders of the
outstanding voting securities of the Company immediately prior to such merger
or consolidation hold, in the aggregate, securities possessing more than fifty
percent (50%) of the total combined voting power of all outstanding voting
securities of the surviving entity immediately after such merger or
consolidation;
	 
	 	(iii)	 	a reverse merger in which the Company is the surviving entity
but in which securities possessing more than fifty percent (50%) of the total
combined voting power of all outstanding voting securities of the Company are
transferred to or acquired by a person or persons different from the persons
holding those securities immediately prior to such merger;
	 
	 	(iv)	 	during any period of two (2) consecutive years during the
Employment Term or any extensions thereof, individuals, who, at the beginning
of such period, constitute the Board, cease for any reason to constitute at
least a majority thereof, unless the election of each director who was not a
director at the beginning of such period has been approved in advance by

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	 	 	 	directors representing at least two-thirds of the directors then in office
who were directors at the beginning of the period;
	 
	 	(v)	 	the sale, transfer or other disposition (in one transaction or
a series of related transactions) of assets of the Company that have a total
fair market value equal to or more than one-third of the total fair market
value of all of the assets of the Company immediately prior to such sale,
transfer or other disposition, other than a sale, transfer or other disposition
to an entity (A) which immediately following such sale, transfer or other
disposition owns, directly or indirectly, at least fifty percent (50%) of the
Company’s outstanding voting securities or (B) fifty percent (50%) or more of
whose outstanding voting securities is immediately following such sale,
transfer or other disposition owned, directly or indirectly, by the Company.
For purposes of the foregoing clause, the sale of stock of a subsidiary of the
Company (or the assets of such subsidiary) shall be treated as a sale of assets
of the Company; or
	 
	 	(vi)	 	the approval by the stockholders of a plan or proposal for the
liquidation or dissolution of the Company.

	 	 	 	For purposes of this Agreement, no event or transaction which occurred or occurs as
a result of the Contribution and Distribution Agreement dated as of June 13, 2008 by
and between the Company and Lender Processing Services, Inc. shall constitute a
Change in Control. In addition, the Employee agrees and consents to any conversion
or modification of outstanding stock options, restricted stock or other equity-based
incentive awards permissible under their corresponding plans (if any) and/or the
assignment of this Agreement in connection with that proposed transaction.

(e) Six-Month Delay. To the extent the Employee is a “specified employee,” as
defined in Section 409A(a)(2)(B)(i) of the Code and the regulations and other guidance
promulgated thereunder and any elections made by the Company in accordance therewith,
notwithstanding the timing of payment provided in any other Section of this Agreement, no
payment, distribution or benefit under this Agreement that constitutes a distribution of
deferred compensation (within the meaning of Treasury Regulation Section 1.409A-1(b)) upon
separation from service (within the meaning of Treasury Regulation Section 1.409A-1(h)),
after taking into account all available exemptions, that would otherwise be payable during
the six (6) month period after separation from service, will be made during such six (6)
month period, and any such payment, distribution or benefit will instead be paid on the
first business day after such six (6) month period.

     10. Excise Tax Gross-up Payments.

	 	 (a)	 	If any payments or benefits paid or provided or to be paid or provided to the
Employee or for his benefit pursuant to the terms of this Agreement or otherwise in
connection with, or arising out of, his employment with the Company or its subsidiaries
or the termination thereof (a “Payment” and, collectively, the

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	 	 	 	“Payments”) would be subject to the excise tax (the “Excise Tax”) imposed by Section
4999 of the Code, then, except as otherwise provided in this Subsection 10(a), the
Employee will be entitled to receive an additional payment (a “Gross-Up Payment”) in
an amount such that, after payment by the Employee of all income taxes, all
employment taxes and any Excise Tax imposed upon the Gross-Up Payment (including any
related interest and penalties), the Employee retains an amount of the Gross-Up
Payment equal to the Excise Tax (including any related interest and penalties)
imposed upon the Payments. Notwithstanding the foregoing, if the amount of the
Payments does not exceed by more than three percent (3%) the amount that would be
payable to the Employee if the Payments were reduced to one dollar less than what
would constitute a “parachute payment” under Section 280G of the Code (the “Scaled
Back Amount”), then the Payments shall be reduced, in a manner determined by the
Employee, to the Scaled Back Amount, and the Employee shall not be entitled to any
Gross-Up Payment.
	 
	 	(b)	 	An initial determination of (i) whether a Gross-Up Payment is required pursuant
to this Agreement, and, if applicable, the amount of such Gross-Up Payment or (ii)
whether the Payments must be reduced to the Scaled Back Amount and, if so, the amount
of such reduction, will be made at the Company’s expense by an accounting firm selected
by the Company. The accounting firm will provide its determination, together with
detailed supporting calculations and documentation, to the Company and the Employee
within ten (10) business days after the date of termination of the Employee’s
employment, or such other time as may be reasonably requested by the Company or the
Employee. If the accounting firm determines that no Excise Tax is payable by the
Employee with respect to a Payment or Payments, it will furnish the Employee with an
opinion to that effect. If a Gross-Up Payment becomes payable, such Gross-Up Payment
will be paid by the Company to the Employee within thirty (30) business days of the
receipt of the accounting firm’s determination. If a reduction in Payments is
required, such reduction shall be effectuated within thirty (30) business days of the
receipt of the accounting firm’s determination. Within ten (10) business days after
the accounting firm delivers its determination to the Employee, the Employee will have
the right to dispute the determination. The existence of a dispute will not in any way
affect the Employee’s right to receive a Gross-Up Payment in accordance with the
determination. If there is no dispute, the determination will be binding, final, and
conclusive upon the Company and the Employee. If there is a dispute, the Company and
the Employee will together select a second accounting firm, which will review the
determination and the Employee’s basis for the dispute and then will render its own
determination, which will be binding, final, and conclusive on the Company and on the
Employee for purposes of determining whether a Gross-Up Payment is required pursuant to
this Subsection 10(b) or whether a reduction to the Scaled Back Amount is required, as
the case may be. If as a result of any dispute pursuant to this Subsection 10(b) a
Gross-Up Payment is made or additional Gross-Up Payments are made, such Gross-Up
Payment(s) will be paid by the Company to the Employee within thirty (30) business days
of the receipt of the second accounting firm’s determination. The Company will bear all
costs associated with the second accounting firm’s determination, unless such

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	 	 	 	determination does not result in additional Gross-Up Payments to the Employee or
unless such determination does not mitigate the reduction in Payments required to
arrive at the Scaled Back Amount, in which case all such costs will be borne by the
Employee.
	 
	 	(c)	 	For purposes of determining the amount of the Gross-Up Payment and, if
applicable, the Scaled Back Amount, the Employee will be deemed to pay federal income
taxes at the highest marginal rate of federal income taxation in the calendar year in
which the Gross-Up Payment is to be made or the Scaled Back Amount is determined, as
the case may be, and applicable state and local income taxes at the highest marginal
rate of taxation in the state and locality of the Employee’s residence on the date of
termination of the Employee’s employment, net of the maximum reduction in federal
income taxes that would be obtained from deduction of those state and local taxes.
	 
	 	(d)	 	As a result of the uncertainty in the application of Section 4999 of the Code,
it is possible that Gross-Up Payments which will not have been made by the Company
should have been made, the Employee’s Payments will be reduced to the Scaled Back
Amount when they should not have been or the Employee’s Payments are reduced to a
greater extent than they should have been (an “Underpayment”) or Gross-Up Payments are
made by the Company which should not have been made, the Employee’s Payments are not
reduced to the Scaled Back Amount when they should have been or they are not reduced to
the extent they should have been (an “Overpayment”). If it is determined that an
Underpayment has occurred, the accounting firm shall determine the amount of the
Underpayment that has occurred and any such Underpayment (together with interest at the
rate provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the
Company to or for the benefit of the Employee. If it is determined that an Overpayment
has occurred, the accounting firm shall determine the amount of the Overpayment that
has occurred and any such Overpayment (together with interest at the rate provided in
Section 1274(b)(2) of the Code) shall be promptly paid by the Employee (to the extent
he has received a refund if the applicable Excise Tax has been paid to the Internal
Revenue Service) to or for the benefit of the Company; provided,
however, that if the Company determines that such repayment obligation would be
or result in an unlawful extension of credit under Section 13(k) of the Exchange Act,
repayment shall not be required. The Employee shall cooperate, to the extent his
expenses are reimbursed by the Company, with any reasonable requests by the Company in
connection with any contest or disputes with the Internal Revenue Service in connection
with the Excise Tax.
	 
	 	(e)	 	The Employee shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require a payment resulting in an
Underpayment. Such notification shall be given as soon as practicable but no later
than ten (10) business days after the Employee is informed in writing of such claim and
shall apprise the Company of the nature of such claim and the date on which such claim
is requested to be paid. The Employee shall not pay such claim prior to the expiration
of the thirty (30) day period following the date on which he

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	 	 	 	gives such notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due). If the Company notifies the
Employee in writing prior to the expiration of such period that it desires to
contest such claim, the Employee shall:

	 	(i)	 	give the Company any information reasonably requested by the
Company relating to such claim,
	 
	 	(ii)	 	take such action in connection with contesting such claim as
the Company shall reasonably request in writing from time to time, including,
without limitation, accepting legal representation with respect to such claim
by an attorney reasonably selected by the Company,
	 
	 	(iii)	 	cooperate with the Company in good faith in order to
effectively contest such claim, and
	 
	 	(iv)	 	permit the Company to participate in any proceeding relating to
such claim;

	 	 	 	provided, however, that the Company shall bear and pay directly all
costs and expenses (including additional interest and penalties) incurred in
connection with such contest and shall indemnify and hold the Employee harmless, on
an after-tax basis, for any Excise Tax or income tax (including related interest and
penalties) imposed as a result of such representation and payment of costs and
expenses. Without limitation on the foregoing provisions of this Subsection 10(e),
the Company shall control all proceedings taken in connection with such contest and,
at its sole option, may pursue or forgo any and all administrative appeals,
proceedings, hearings and conferences with the taxing authority in respect of such
claim and may, at its sole option, either direct the Employee to pay the tax claimed
and sue for a refund or contest the claim in any permissible manner, and the
Employee agrees to prosecute such contest to a determination before any
administrative tribunal, in a court of initial jurisdiction and in one or more
appellate courts, as the Company shall determine; provided, however,
that if the Company directs the Employee to pay such claim and sue for a refund, the
Company shall advance the amount of such payment to the Employee, on an
interest-free basis and shall indemnify and hold the Employee harmless, on an
after-tax basis, from any Excise Tax or income tax (including related interest or
penalties) imposed with respect to such advance or with respect to any imputed
income with respect to such advance. The Company’s control of the contest shall be
limited to issues that may impact Gross-Up Payments or reduction in Payments under
this Section 10, and the Employee shall be entitled to settle or contest, as the
case may be, any other issue raised by the Internal Revenue Service or any other
taxing authority.
	 
	 	(f)	 	If, after the receipt by the Employee of an amount advanced by the Company
pursuant to Subsection 10(e), the Employee becomes entitled to receive any refund with
respect to such claim, the Employee shall (subject to the Company’s

11

 

	 	 	 	complying with the requirements of Subsection 10(e)) promptly pay to the Company the
amount of such refund (together with any interest paid or credited thereon after
taxes applicable thereto). If, after the receipt by the Employee of an amount
advanced by the Company pursuant to Subsection 10(e), a determination is made that
the Employee shall not be entitled to any refund with respect to such claim and the
Company does not notify the Employee in writing of its intent to contest such denial
of refund prior to the expiration of thirty (30) days after such determination, then
such advance shall be forgiven and shall not be required to be repaid.
	 
	 	 (g)	 	Any payment under this Section 10 must be made by the Company no later than the
end of the Employee’s tax year following the Employee’s tax year in which the Employee
remits the related tax payments.

     11. Non-Delegation of the Employee’s Rights. The obligations, rights and benefits of
the Employee hereunder are personal and may not be delegated, assigned or transferred in any manner
whatsoever, nor are such obligations, rights or benefits subject to involuntary alienation,
assignment or transfer.

     12. Confidential Information. The Employee acknowledges that he will occupy a
position of trust and confidence and will have access to and learn substantial information about
the Company and its affiliates and their operations that is confidential or not generally known in
the industry including, without limitation, information that relates to purchasing, sales,
customers, marketing, and the financial positions and financing arrangements of the Company and its
affiliates. The Employee agrees that all such information is proprietary or confidential, or
constitutes trade secrets and is the sole property of the Company and/or its affiliates, as the
case may be. The Employee will keep confidential, and will not reproduce, copy or disclose to any
other person or firm, any such information or any documents or information relating to the
Company’s or its affiliates’ methods, processes, customers, accounts, analyses, systems, charts,
programs, procedures, correspondence or records, or any other documents used or owned by the
Company or any of its affiliates, nor will the Employee advise, discuss with or in any way assist
any other person, firm or entity in obtaining or learning about any of the items described in this
Section 12. Accordingly, the Employee agrees that during the Employment Term and at all times
thereafter he will not disclose, or permit or encourage anyone else to disclose, any such
information, nor will he utilize any such information, either alone or with others, outside the
scope of his duties and responsibilities with the Company and its affiliates.

     13. Non-Competition.

	 	 (a)	 	During Employment Term. The Employee agrees that, during the
Employment Term, he will devote such business time, attention and energies reasonably
necessary to the diligent and faithful performance of the services to the Company and
its affiliates, and he will not engage in any way whatsoever, directly or indirectly,
in any business that is a direct competitor with the Company’s or its affiliates’
principal business, nor solicit customers, suppliers or employees of the Company or
affiliates on behalf of, or in any other manner work for or assist any business which
is a direct competitor with the Company’s or its affiliates’

12

 

	 	 	 	principal business. In addition, during the Employment Term, the Employee will
undertake no planning for or organization of any business activity competitive with
the work he performs as an employee of the Company, and the Employee will not
combine or conspire with any other employee of the Company or any other person for
the purpose of organizing any such competitive business activity.
	 
	 	(b)	 	After Employment Term. The parties acknowledge that the Employee will
acquire substantial knowledge and information concerning the business of the Company
and its affiliates as a result of his employment. The parties further acknowledge that
the scope of business in which the Company and its affiliates are engaged as of the
Effective Date is national and very competitive and one in which few companies can
successfully compete. Competition by the Employee in that business after the
Employment Term would severely injure the Company and its affiliates. Accordingly, for
a period of one (1) year after the Employee’s employment terminates for any reason
whatsoever, except as otherwise stated herein below, the Employee agrees: (i) not to
become an employee, consultant, advisor, principal, partner or substantial shareholder
of any firm or business that directly competes with the Company or its affiliates in
their principal products and markets; and (ii), on behalf of any such competitive firm
or business, not to solicit any person or business that was at the time of such
termination and remains a customer or prospective customer, a supplier or prospective
supplier, or an employee of the Company or an affiliate. Notwithstanding any of the
foregoing provisions to the contrary, the Employee shall not be subject to the
restrictions set forth in this Subsection 13(b) if: (A) the Employee’s employment is
terminated by the Company without Cause; (B) the Employee terminates employment for
Good Reason; or (C) the Employee’s employment is terminated as a result of the
Company’s unwillingness to extend the Employment Term.
	 
	 	(c)	 	Exclusion. Working, directly or indirectly, for any of the following
entities shall not be considered competitive to the Company or its affiliates for the
purpose of this Section 13: (i) Fidelity National Financial, Inc., its affiliates or
their successors; (ii) Lender Processing Services, Inc., its affiliates or their
successors; or (iii) the Company, its affiliates or their successors if this Agreement
is assumed by a third party as contemplated in Section 21.

     14. Return of Company Documents. Upon termination of the Employment Term, the
Employee shall return immediately to the Company all records and documents of or pertaining to the
Company or its affiliates and shall not make or retain any copy or extract of any such record or
document, or any other property of the Company or its affiliates.

     15. Improvements and Inventions. Any and all improvements or inventions that the
Employee may make or participate in during the Employment Term, unless wholly unrelated to the
business of the Company and its affiliates and not produced within the scope of the Employee’s
employment hereunder, shall be the sole and exclusive property of the Company. The Employee shall,
whenever requested by the Company, execute and deliver any and all documents that the Company deems
appropriate in order to apply for and obtain patents or copyrights in improvements or inventions or
in order to assign and/or convey to the Company

13

 

the sole and exclusive right, title and interest in and to such improvements, inventions,
patents, copyrights or applications.

     16. Actions. The parties agree and acknowledge that the rights conveyed by this
Agreement are of a unique and special nature and that the Company will not have an adequate remedy
at law in the event of a failure by the Employee to abide by its terms and conditions, nor will
money damages adequately compensate for such injury. Therefore, it is agreed between and hereby
acknowledged by the parties that, in the event of a breach by the Employee of any of the
obligations of this Agreement, the Company shall have the right, among other rights, to damages
sustained thereby and to obtain an injunction or decree of specific performance from any court of
competent jurisdiction to restrain or compel the Employee to perform as agreed herein. The
Employee hereby acknowledges that obligations under Sections and Subsections 12, 13(b), 14, 15, 16,
17 and 18 shall survive the termination of employment and be binding by their terms at all times
subsequent to the termination of employment for the periods specified therein. Nothing herein
shall in any way limit or exclude any other right granted by law or equity to the Company.

     17. Release. Notwithstanding any provision herein to the contrary, the Company may
require that, prior to payment of any amount or provision of any benefit under Section 9 or payment
of any Gross-Up Payment pursuant to Section 10 of this Agreement (other than due to the Employee’s
death), the Employee shall have executed a complete release of the Company and its affiliates and
related parties in such form as is reasonably required by the Company, and any waiting periods
contained in such release shall have expired; provided, however, that such release
relates only to the Employee’s employment relationship with the Company. With respect to any
release required to receive payments owed pursuant to Section 9, the Company must provide the
Employee with the form of release no later than seven (7) days after the Date of Termination and
the release must be signed by the Employee and returned to the Company, unchanged, effective and
irrevocable, no later than sixty (60) days after the Date of Termination.

     18. No Mitigation. The Company agrees that, if the Employee’s employment hereunder is
terminated during the Employment Term, the Employee is not required to seek other employment or to
attempt in any way to reduce any amounts payable to the Employee by the Company hereunder.
Further, the amount of any payment or benefit provided for hereunder (other than pursuant to
Subsection 9(a)(v) hereof) shall not be reduced by any compensation earned by the Employee as the
result of employment by another employer, by retirement benefits or otherwise.

     19. Entire Agreement and Amendment. This Agreement embodies the entire agreement and
understanding of the parties hereto in respect of the subject matter of this Agreement, and
supersedes and replaces all prior agreements, understandings and commitments with respect to such
subject matter. This Agreement may be amended only by a written document signed by both parties to
this Agreement.

     20. Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Florida, excluding any conflicts or choice of law rule or principle
that might otherwise refer construction or interpretation of this Agreement to the substantive law
of another jurisdiction. Any litigation pertaining to this Agreement shall be adjudicated in courts
located in Duval County, Florida.

14

 

     21. Successors. This Agreement may not be assigned by the Employee. In addition to
any obligations imposed by law upon any successor to the Company, the Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the stock, business and/or assets of the Company, to expressly assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. Failure of the Company to obtain
such assumption by a successor shall be a material breach of this Agreement. The Employee agrees
and consents to any such assumption by a successor of the Company, as well as any assignment of
this Agreement by the Company for that purpose. As used in this Agreement, “Company” shall mean
the Company as herein before defined as well as any such successor that expressly assumes this
Agreement or otherwise becomes bound by all of its terms and provisions by operation of law. This
Agreement shall be binding upon and inure to the benefit of the parties and their permitted
successors or assigns.

     22. Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument.

     23. Attorneys’ Fees. If any party finds it necessary to employ legal counsel or to
bring an action at law or other proceedings against the other party to interpret or enforce any of
the terms hereof, the party prevailing in any such action or other proceeding shall be promptly
paid by the other party its reasonable legal fees, court costs, litigation expenses, all as
determined by the court and not a jury, and such payment shall be made by the non-prevailing party
no later than the end of the Employee’s tax year following the Employee’s tax year in which the
payment amount becomes known and payable; provided, however, that on or after a
Change in Control, and following the Employee’s termination of employment with the Company, if any
party finds it necessary to employ legal counsel or to bring an action at law or other proceedings
against the other party to interpret or enforce any of the terms hereof, the Company shall pay (on
an ongoing basis) to the Employee to the fullest extent permitted by law, all legal fees, court
costs and litigation expenses reasonably incurred by the Employee or others on his behalf (such
amounts collectively referred to as the “Reimbursed Amounts”); provided, further, that the Employee
shall reimburse the Company for the Reimbursed Amounts if it is determined that a majority of the
Employee’s claims or defenses were frivolous or without merit. Requests for payment of Reimbursed
Amounts, together with all documents required by the Company to substantiate them, must be
submitted to the Company no later than ninety (90) days after the expense was incurred. The
Reimbursed Amounts shall be paid by the Company within ninety (90) days after receiving the request
and all substantiating documents requested from the Employee. The payment of Reimbursed Amounts
during the Employee’s tax year will not impact the Reimbursed Amounts for any other taxable year.
The rights under this Section 23 shall survive the termination of employment and this Agreement
until the expiration of the applicable statute of limitations.

     24. Severability. If any section, subsection or provision hereof is found for any
reason whatsoever to be invalid or inoperative, that section, subsection or provision shall be
deemed severable and shall not affect the force and validity of any other provision of this
Agreement. If any covenant herein is determined by a court to be overly broad thereby making the
covenant unenforceable, the parties agree and it is their desire that such court shall substitute

15

 

a reasonable judicially enforceable limitation in place of the offensive part of the covenant
and that as so modified the covenant shall be as fully enforceable as if set forth herein by the
parties themselves in the modified form. The covenants of the Employee in this Agreement shall
each be construed as an agreement independent of any other provision in this Agreement, and the
existence of any claim or cause of action of the Employee against the Company, whether predicated
on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of
the covenants in this Agreement.

     25. Notices. Any notice, request, or instruction to be given hereunder shall be in
writing and shall be deemed given when personally delivered or three (3) days after being sent by
United States Certified Mail, postage prepaid, with Return Receipt Requested, to the parties at
their respective addresses set forth below:

To the Company:

Fidelity National Information Services, Inc.

601 Riverside Avenue

Jacksonville, FL 32204

Attention: General Counsel

To the Employee:

Brent B. Bickett

c/o Fidelity National Information Services, Inc.

601 Riverside Avenue

Jacksonville, FL 32204

     26. Waiver of Breach. The waiver by any party of any provisions of this Agreement
shall not operate or be construed as a waiver of any prior or subsequent breach by the other party.

     27. Tax Withholding. The Company or an affiliate may deduct from all compensation and
benefits payable under this Agreement any taxes or withholdings the Company is required to deduct
pursuant to state, federal or local laws.

     28. Code Section 409A. To the extent applicable, it is intended that this Agreement
and any payment made hereunder shall comply with the requirements of Section 409A of the Code, and
any related regulations or other guidance promulgated with respect to such Section by the U.S.
Department of the Treasury or the Internal Revenue Service (“Code Section 409A”). Any provision
that would cause the Agreement or any payment hereof to fail to satisfy Code Section 409A shall
have no force or effect until amended to comply with Code Section 409A, which amendment may be
retroactive to the extent permitted by Code Section 409A. In addition, the direct payment or
reimbursement of expenses permitted under this Agreement or otherwise shall be made no later than
the last day of the Employee’s taxable year following the taxable year in which such expense was
incurred.

16

 

     IN WITNESS WHEREOF the parties have executed this Agreement to be effective as of the date
first set forth above.

	 	 	 	 	 	 	 
	 	 	FIDELITY NATIONAL INFORMATION SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	BRENT B. BICKETT	 	 
	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

17EX-10.15

Exhibit 10.15

EMPLOYMENT AND SEVERANCE AGREEMENT

AS AMENDED AND RESTATED

     This Employment and Severance Agreement (the “Agreement”), originally effective as of the
28th day of March, 2006, is amended and restated effective this 4th day of
August, 2008, by and between AGCO CORPORATION, a Delaware corporation (the “Company”), and André M.
Carioba (the “Executive”). This Agreement amends, restates and supersedes the Employment and
Severance Agreement between the Company and the Executive effective as of the 28th day
of March, 2006 and any subsequent amendments or restatements thereto.

WITNESSETH:

     In consideration of the mutual covenants and agreements hereinafter set forth, the Company and
the Executive do hereby agree as follows:

     1. EMPLOYMENT.

          (a) The Company hereby employs the Executive, and the Executive hereby agrees to serve the
Company, upon the terms and conditions set forth in this Agreement.

          (b) The employment term previously commenced and shall continue in effect until terminated in
accordance with Section 5 or any other provision of the Agreement.

     2. POSITION AND DUTIES.

     The Executive shall serve as a Senior Vice President of the Company and shall perform such
duties and responsibilities as may from time to time be prescribed by the Company’s board of
directors (the “Board”), provided that such duties and responsibilities are consistent with the
Executive’s position. The Executive shall perform and discharge faithfully, diligently and to the
best of his ability such duties and responsibilities and shall devote all of his working time and
efforts to the business and affairs of the Company and its affiliates. During the two (2) years
following a Change in Control (as defined herein), the Executive’s position (including offices,
titles and reporting requirements), duties, and responsibilities shall not be reduced, and the
Executive shall not be required to work at a location other than the location at which the
Executive was based at the time of the Change in Control.

     3. COMPENSATION.

     (a) BASE SALARY. The Company shall pay to the Executive an annual base salary (“Base Salary”)
Six-Hundred Eighty-Two Thousand Seven-Hundred and Forty-Three Real (R$682,743) payable in equal
semi-monthly installments throughout the term of such employment subject to Section 5 hereof
(except that the first and last semi-monthly installments may be prorated, if necessary) and
subject to applicable tax and payroll deductions. The Company shall consider increases in the Executive’s Base Salary annually, and any such

- 1 -

 

increase in
salary implemented by the Company shall become the Executive’s Base Salary for purposes of this
Agreement.

          (b) INCENTIVE COMPENSATION. Provided Executive has duly performed his obligations pursuant to
this Agreement, the Executive shall be entitled to participate in the Management Incentive Plan and
the Long-Term Incentive Plan that is implemented by the Company.

          (c) SUPPLEMENTAL EMPLOYEE RETIREMENT PROGRAM. During

          the term of this Agreement, the Executive shall be entitled to participate in the AGCO Corporation
Supplemental Executive Retirement Plan (“SERP”).

          (d) OTHER BENEFITS. During the term of this Agreement, the Executive shall be entitled to
participate in the employee benefit plans and arrangements which are available to senior executive
officers of the Company, including, without limitation, group health and life insurance, pension
and savings, and the Senior Management Employment Policy.

          (e) FRINGE BENEFITS. The Company shall pay or reimburse the Executive promptly for all
reasonable and necessary expenses incurred by him in connection with his duties hereunder, upon
submission by the Executive to the Company of such written evidence of such expenses as the Company
may require. Throughout the term of this Agreement, the Company will provide the Executive with
the use of a vehicle for purposes within the scope of his employment and shall pay, or reimburse
Executive for, all expenses for fuel, maintenance and insurance in connection with such use of the
automobile. The Company shall make any such reimbursement or payments under this Section 3(e) no
later than the last day of the Executive’s taxable year next following the Executive’s taxable year
in which the Executive incurs the expense. The Company further agrees that the Executive shall be
entitled to four (4) weeks of vacation in any year of the term of employment hereunder, subject to
the terms of the Company’s vacation policy.

          (f) MODIFICATION OF BENEFITS. Without by implication limiting the foregoing, during the two
(2) years following a Change in Control, the Executive’s compensation, including Base Salary,
incentive compensation opportunity, SERP opportunity, other benefits and fringe benefits shall not
be reduced. Notwithstanding the foregoing, the Company shall be entitled to modify the group
health benefits provided such modifications are applicable to all similarly situated management
employees. To the extent that the Company is not able to continue life, group health or similar
benefits as a result of the terms of the applicable plans or insurance policies, the Company shall
pay the Executive the cost, no less frequently than monthly, that the Executive must incur to
obtain such benefits privately.

- 2 -

 

4. RESTRICTIVE COVENANTS

          (a) ACKNOWLEDGMENTS. The Executive acknowledges that as an Executive Officer of the Company
(i) he frequently will be exposed to certain “Trade Secrets” and “Confidential Information” of the
Company (as those terms are defined in Subsection 4(b)), (ii) his responsibilities on behalf of the
Company will extend to all geographical areas where the Company is doing business, and (iii) any
competitive activity on his part during the term of his employment and for a reasonable period
thereafter would necessarily involve his use of the Company’s Trade Secrets and Confidential
Information and, therefore, would unfairly threaten the Company’s legitimate business interests,
including its substantial investment in the proprietary aspects of its business and the goodwill
associated with its customer base. Moreover, the Executive acknowledges that, in the event of the
termination of his employment with the Company, he would have sufficient skills to find
alternative, commensurate work in his field of expertise that would not involve a violation of any
of the provisions of this Section 4. Therefore, the Executive acknowledges and agrees that it is
reasonable for the Company to require him to abide by the covenants set forth in this Section 4.
The parties acknowledge and agree that if the nature of the Executive’s responsibilities for or on
behalf of the Company and the geographical areas in which the Executive must fulfill them
materially change, the parties will execute appropriate amendments to the scope of the covenants in
this Section 4.

          (b) DEFINTIONS.

(i) “Business of Company” means designing, manufacturing, marketing, and
distributing agricultural equipment.

(ii) “Material Contact” as used in the non-solicitation provision below means
personal contact or the supervision of the efforts of those who have personal
contact with an existing or potential Customer or Vendor in an effort to further or
create a business relationship between the Company and such existing or potential
Customer or Vendor.

(iii) “Confidential Information” means information about the Company, its
Executives, and Customers which is not generally known outside of the Company, which
the Executive learns of in connection with the Executive’s employment with the
Company, and which would be useful to competitors of the Company or potentially
harmful to the Company’s reputation. Confidential Information includes, but is not
limited to: (1) business and employment policies, marketing methods and the targets
of those methods, finances, business plans, promotional materials and price lists;
(2) the terms upon which the Company hires employees and provides services to its
Customers; (3) the nature, origin, composition and development of the Company’s
products and services; and (4) the manner in which the Company provides products and
services to its Customers.

- 3 -

 

(iv) “Trade Secrets” means Confidential Information which meets the additional
requirements of the Georgia Trade Secrets Act.

(v) “Territory” means those countries and areas as more particularly set forth on
Exhibit A attached hereto.

          (c) COVENANT OF CONFIDENTIALITY. During the term of this Agreement, the Executive agrees only
to use and disclose Confidential Information in connection with his duties hereunder and to
otherwise maintain the secrecy of the same. The Executive agrees that for a period of five years
following the cessation of his employment for any reason, he shall not directly or indirectly
divulge or make use of any Confidential Information or Trade Secrets of the Company without prior
written consent of the Company. The Executive further agrees that if he is questioned about
information subject to this Agreement by anyone not authorized to receive such information, he will
promptly notify the Chairman of the Board. This Agreement does not limit the remedies available
under common or statutory law, which may impose longer duties of non-disclosure. The Executive
will immediately notify the Chairman of the Board if he receives any subpoenas which could require
the disclosure of Confidential Information, so that the Company may take whatever actions it deems
necessary to protect its interests.

          (d) COVENANT OF NON-COMPETITION. The Executive agrees that while employed by the Company and
for a period of twenty-four (24) months following the cessation of his employment for any reason,
he will not compete with the Business of Company by performing services of the same or similar type
as those he performed for the Company as an employee, contractor, consultant, officer, director or
agent for any person or entity engaged in the Business of Company. Likewise, the Executive will not
perform activities of the type which in the ordinary course of business would involve the
utilization of Confidential Information or Trade Secrets protected from disclosure by Section 4 (c)
of this Agreement. This paragraph restricts competition only within the Territory.

          (e) COVENANT OF NON-SOLICITATION. The Executive agrees that while employed by the Company and
for a period of twenty-four (24) months following the cessation of his employment for any reason,
he will not directly or indirectly solicit or attempt to solicit any business in competition with
the Business of Company from any of the Customers with whom the Executive had Material Contact
within the last 18 months of his employment with the Company. The Executive further agrees that
for a period of twenty-four (24) months following the cessation of his employment, he will not
directly or indirectly solicit or attempt to solicit any Vendors of the Company with whom he had
Material Contact during the last 18 months of his employment with the Company to provide services
to any person or entity which competes with the Business of Company.

          (f) COVENANT OF NON-RECRUITMENT. The Executive agrees that while employed by the Company and
for a period of twenty-four (24) months following the cessation of his employment for any reason,
he will not directly or indirectly solicit or attempt to
solicit any other employee of the Company for the purpose of encouraging, enticing, or causing said
employee to voluntarily terminate employment with the Company.

- 4 -

 

          (g) COVENANT TO RETURN PROPERTY AND INFORMATION. The Executive agrees to return all of the
Company’s property within seven (7) days following the cessation of his employment for any reason.
Such property includes, but is not limited to, the original and any copy (regardless of the manner
in which it is recorded) of all information provided by the Company to the Executive, or which the
Executive has developed or collected in the scope of his employment with the Company, as well as
all Company-issued equipment, supplies, accessories, vehicles, keys, instruments, tools, devices,
computers, cell phones, pagers, materials, documents, plans, records, notebooks, drawings, or
papers.

          (h) ASSIGNMENT OF WORK PRODUCT AND INVENTIONS. The Executive hereby assigns and grants to the
Company (and will upon request take any actions needed to formally assign and grant to the Company
and/or obtain patents, trademark registrations or copyrights belonging to the Company) the sole and
exclusive ownership of any and all inventions, information, reports, computer software or programs,
writings, technical information or work product collected or developed by the Executive, alone or
with others, during the term of the Executive’s employment. This duty applies whether or not the
forgoing inventions or information are made or prepared in the course of employment with the
Company, so long as such inventions or information relate to the Business of Company and have been
developed in whole or in part during the term of the Executive’s employment. The Executive agrees
to advise the Company in writing of each invention that Executive, alone or with others, makes or
conceives during the term of Executive’s employment. Inventions which the Executive developed
before the Executive came to work for the Company, if any, are as follows:

	 	 	 
	.
 

	 	     

          (i) REMEDIES FOR VIOLATION OF RESTRICTIVE COVENANTS. The Executive acknowledges that the
Company would suffer irreparable harm if the Executive fails to comply with the foregoing, and that
the Company would be entitled to any appropriate relief, including money damages, injunctive and
other equitable relief and attorneys’ fees. The Executive agrees that the pendency of any claim
whatsoever against the Company shall not constitute a defense to the enforcement of this
Noncompetition Agreement by the Company.

          (j) SEVERABILITY. In the event that any one or more of the provisions of these restrictive
covenants shall be held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
Moreover, if any one or more of the provisions contained in these restrictive covenants shall be
held to be excessively broad as to duration, activity or subject, the parties authorize the Court
in which such action is pending to modify said covenants and enforce them to the extent that the
Court deems reasonable.

- 5 -

 

     5. TERMINATION.

          (a) DEATH. This Agreement shall terminate upon the death of the Executive, provided, however,
that for purposes of the payment of Base Salary to the Executive, the death of the Executive shall
be deemed to have occurred ninety (90) days from the last day of the month in which the death of
the Executive shall have occurred.

          (b) DISABILITY. Executive’s employment and all obligations of the Company hereunder shall
terminate upon a finding that the Executive is disabled under the Company’s group long term
disability plan.

          (c) CAUSE. The Company may terminate the Executive’s employment hereunder for Cause by giving
written Notice of Termination to the Executive. For the purposes of this Agreement, the Company
shall have “Cause” to terminate the Executive’s employment hereunder upon: (i) the conviction of
Executive of, or the entry of a plea of guilty, first offender probation before judgment, or nolo
contendere by Executive to, any felony; (ii) fraud, misappropriation or embezzlement by Executive;
(iii) Executive’s willful failure or gross negligence in the performance of his assigned duties for
the Company, which failure or negligence continues for more than or was not remedied within thirty
(30) calendar days following Executive’s receipt of written notice of such willful failure or gross
negligence; (iv) Executive’s failure to follow reasonable and lawful directives of the Board or his
breach of his fiduciary duty to the Company, which failure is not remedied within thirty (30)
calendar days following Executive’s receipt of written notice of such failure; (v) any act or
omission of Executive that has a demonstrated and material adverse impact on the Company’s business
or reputation for honesty and fair dealing, other than an act or failure to act by Executive in
good faith and without reason to believe that such act or failure to act would adversely impact on
the Company’s business or reputation for honesty and fair dealing; or (vi) the breach by Executive
of any material term of this Agreement, which breach continues for more than or was not remedied
within thirty (30) calendar days following Executive’s receipt of written notice of such breach.

          (d) WITHOUT CAUSE; GOOD REASON.

	 	(i)	 	The Company may terminate the Executive’s
employment hereunder without Cause, by giving written Notice of
Termination (as defined in Section 5(e)) to the Executive.
	 
	 	(ii)	 	The Executive may terminate his employment
hereunder, by giving written Notice of Termination to the Company. For
the purposes of this Agreement, the Executive shall have “Good Reason”
to terminate his employment hereunder upon (a) a substantial reduction
in the Executive’s aggregate Base Salary and annual incentive
compensation taken as a whole, excluding any reductions caused by the
performance of the Company or the Executive, including but not limited
to, the failure by the Executive to achieve performance targets
established from time to time by the Board and/or under the Management Incentive Plan or 

- 6 -

 

	 	 	 	Long Term Incentive Plan or from below budget performance by the Company,
or (b) the Company’s failure to make payments of Base Pay and
incentive compensation, but only upon notice of such failure given
by the Executive within ninety (90) days of the initial existence of
the failure and the subsequent failure of the Company to cure the
non-payment within thirty (30) days of such notice.

          (e) NOTICE OF TERMINATION. Any termination by the Company pursuant to the Subsections (b),
(c) or (d)(i) above or by the Executive pursuant to Subsection (d)(ii) above, shall be communicated
by written Notice of Termination from the party issuing such notice to the other party hereto. For
purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the
specific termination provision of this Agreement relied upon and shall set forth in reasonable
detail the facts and circumstances claimed to provide a basis for such termination. A date of
termination specified in the Notice of Termination shall not be dated earlier than ninety (90) days
from the date such Notice is delivered or mailed to the applicable party and not later than two (2)
years after the initial existence of the failure.

          (f) OBLIGATION TO PAY. Except upon termination for Cause, voluntary termination by the
Executive without Good Reason, or termination as a result of death or disability, and further
subject to Sections 6 and 16 below, the Company shall (i) pay the compensation specified in this
Subsection 5(f) to the Executive for the period specified in this Subsection 5(f), (ii) continue to
provide, no less frequently than monthly, life insurance benefits during the remainder of the
applicable period, including the Severance Period set forth in this Subsection 5(f), and (iii) if
and to the extent the Executive timely elects COBRA continuation coverage, pay the Executive, no
less frequently than monthly, the cost of COBRA premiums for a period of 18 months or such lesser
period as the Executive continues to have COBRA continuation coverage.

     If the Executive’s employment shall be terminated by reason of death, the estate of the
Executive shall be paid all sums otherwise payable to the Executive through the end of the third
month after the month in which the death of the Executive occurred, including all bonus or other
incentive benefits accrued or accruable to the Executive through the end of the month in which the
death of the Executive occurred, on the same basis as if the Executive had continued employment
through such times, and the Company shall have no further obligations to the Executive under this
Agreement.

     If the Executive’s employment is terminated by reason of disability as determined under the
Company’s long term disability plan, the Executive or the person charged with legal responsibility
for the Executive’s estate shall be paid all sums otherwise payable to the Executive, including the
bonus and other benefits accrued or accruable to the Executive, on the same basis as if the
Executive had continued employment through the date of disability, and the Company shall have no
further obligations to the Executive under this Agreement.

     If the Executive’s employment shall be terminated for Cause, the Company shall pay the
Executive his Base Salary through the date of termination specified in the Notice of Termination

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and reimbursements otherwise payable to the Executive, and the Company shall have no further
obligations to the Executive under this Agreement.

     Unless such termination occurs within two (2) years following a Change in Control, if the
Executive’s employment shall be terminated by the Company without Cause or by the Executive for
Good Reason, the Company shall (x) continue to pay the Executive the Base Salary (at the rate in
effect on the date of such termination) for a period of one (1) year from the date of such
termination (such one (1) year period being referred to hereinafter as the “Severance Period”) at
such intervals as the same would have been paid had the Executive remained in the active service of
the Company, and (y) pay the Executive a pro rata portion of the bonus or other incentive benefits
to which the Executive would have been entitled for the year of termination had the Executive
remained employed for the entire year, which incentive compensation shall be payable at the time
incentive compensation is payable generally under the applicable incentive plans; provided,
however, that notwithstanding the foregoing, the Executive shall not be entitled to any severance
payments under clauses (x) and (y) of this sentence upon and after reaching age 65 . The Executive
shall have no further right to receive any other compensation, benefits or perquisites after the
date of termination of employment except as determined under the terms of this Agreement or any
applicable employee benefit plans or programs of the Company or under applicable law.

     If within two (2) years following a Change in Control the Executive’s employment shall be
terminated by the Company without Cause or by the Executive for Good Reason (a “Change in Control
Termination”), the Company shall immediately, and in all events within thirty (30) days after the
date of termination, pay the Executive the sum of (x) two (2) times the Base Salary (at the rate in
effect on the date of such termination), (y) a pro rata portion of the bonus or other incentive
benefits to which the Executive would have been entitled for the year of termination had the
Executive remained employed for the entire year, plus (z) a bonus in an amount equal to the three
(3) year average of the awards received by the participant during the prior two (2) completed years
and the current year’s trend (based upon results through the month most recently complete prior to
the termination, extrapolated for the complete year) multiplied by two (2) times. Any payment due
to the Executive with respect to clause (y) and (z) that is calculated based upon the Company’s
Management Incentive Plan shall be reduced by any similar amounts received by the Executive under
such plan. Also, notwithstanding the foregoing, in the event of a Change in Control Termination,
the Company shall continue the Executive’s life and group health coverage for a period of two (2)
years, subject to the same payments by the Executive that the Executive was required to make prior
to termination. Notwithstanding the foregoing, the Company shall be entitled to modify the group
health benefits provided such modifications are applicable to all similarly situated management
employees. To the extent that the Company is not able to continue life or group health benefits as
a result of the terms of the applicable plans or insurance policies, the Company shall pay the
Executive the cost, no less frequently than monthly, that the Executive must incur to obtain such
benefits privately.

     For the purposes of this Agreement, the term “Change in Control” shall mean change in the
ownership of the Company, change in the effective control of the Company or change in ownership of
a substantial portion of the Company’s assets, as described in Section 280G of the Code, including
each of the following: (i) a change in the ownership of the Company occurs on

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the date that any one
person, or more than one person acting as a group, acquires ownership of stock of the Company that,
together with stock held by such person or group, possess more than fifty percent (50%) of the
total fair market value or total voting power of the stock of the Company (unless any one person,
or more than one person acting as a group, who is considered to own more than fifty percent (50%)
of the total fair market value or total voting power of the stock of the Company, acquires
additional stock); (ii) change in the effective control of the Company is presumed (which
presumption may be rebutted by the Compensation Committee of the Board) to occur on the date that
either: any one person, or more than one person acting as a group, acquires (or has acquired during
the twelve (12)-month period ending on the date of the most recent acquisition by such person or
persons) ownership of stock of the Company possessing thirty percent (30%) or more of the total
voting power of the stock of such Company; (iii) a majority of members of the Company’s Board is
replaced during any twelve (12)-month period by directors whose appointment or election is not
endorsed by a majority of the members of the Company’s Board prior to the date of the appointment
or election of such new directors; or (iv) a change in the ownership of a substantial portion of
the Company’s assets occurs on the date that any one person, or more than one person acting as a
group, acquires (or has acquired during the twelve (12)-month period ending on the date of the most
recent acquisition by such person or persons) assets from the Company that have a total fair market
value equal to forty percent (40%) or more of the total fair market value of all of the assets of
the Company immediately prior to such acquisition or acquisitions unless the assets are transferred
to: a stockholder of the Company (immediately before the asset transfer) in exchange for or with
respect to its stock; an entity, fifty percent (50%) or more of the total value or voting power of
which is owned, directly or indirectly by the Company; a person, or more than one person acting as
a group, that owns, directly or indirectly, fifty percent (50%) or more of the total value or
voting power of all of the outstanding stock of the Company; or an entity, at least fifty percent
(50%) of the total value or voting power is owned, directly or indirectly, by a person, or more
than one person acting as a group, that owns directly or indirectly, fifty percent (50%) or more of
the total value of voting power of all of the outstanding stock of the Company.

     (g) TAXES. In the event it shall be determined that any payment or distribution by the
Company to or for the benefit of the Executive in the event of a Change in Control, whether paid or
payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, (a
“Change in Control Payment”) would be subject to the excise tax imposed by Section 4999 of the
Internal Revenue Code of 1986, as amended (the “Code”) or any interest or penalties are incurred by
the Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall
be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after
payment by the Executive of all taxes (including any interest or penalties imposed with respect to
such taxes), including, without limitation, any income taxes (and any interest and penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive
retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Change in Control Payments. The
Company shall pay all such Gross-Up Payments before such excise taxes are required to be remitted.

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	 	6.	 	CONDITIONS APPLICABLE TO SEVERANCE PERIOD; MITIGATION OF DAMAGES

          (a) If during the Severance Period, the Executive breaches his obligations under Section 4
above, the Company may, upon written notice to the Executive, terminate the Severance Period and
cease to make any further payments or provide any benefits described in Subsection 5(f).

          (b) Although the Executive shall not be required to mitigate the amount of any payment
provided for in Subsection 5(f) by seeking other employment, except in the case of a Change in
Control Termination, any such payments shall be reduced by any amounts which the Executive receives
or is entitled to receive from another employer with respect to the Severance Period. The
Executive shall promptly notify the Company in writing in the event that other employment is
obtained during the Severance Period.

     7. NOTICES. For the purpose of this Agreement, notices and all other communications to either
party hereunder provided for in the Agreement shall be in writing and shall be deemed to have been
duly given when delivered in person or mailed by certified first-class mail, postage prepaid,
addressed:

          in the case of the Company to:

AGCO Corporation

4205 River Green Parkway

Duluth, Georgia 30096

Attention: Debra Kuper

          in the case of the Executive to:

                                        

                                        

                                        

or to such other address as either party shall designate by giving written notice of such change to
the other party.

     8. ARBITRATION. Any claim, controversy, or dispute arising between the parties
with respect to this Agreement, to the maximum extent allowed by applicable law, shall be submitted
to and resolved by binding arbitration. The arbitration shall be conducted pursuant to the terms
of the Federal Arbitration Act and (except as otherwise specified herein) the Commercial
Arbitration Rules of the American Arbitration Association in effect at the time the

- 10 -

 

arbitration is
commenced. The venue for the arbitration shall be the Atlanta, Georgia offices of the American
Arbitration Association. Either party may notify the other party at any time of the existence of
an arbitrable controversy by delivery in person or by certified mail of a Notice of Arbitrable
Controversy. Upon receipt of such a Notice, the parties shall attempt in good faith to resolve
their differences within fifteen (15) days after the receipt of such Notice. Notice to the Company
and the Executive shall be sent to the addresses specified in Section 7 above. If the dispute
cannot be resolved within the fifteen (15) day period, either party may file a written Demand for
Arbitration with the American Arbitration Association’s Atlanta, Georgia Regional Office, and shall
send a copy of the Demand for Arbitration to the other party. The arbitration shall be conducted
before a panel of three (3) arbitrators. The arbitrators shall be selected as follows: (a) The
party filing the Demand for Arbitration shall simultaneously specify his or its arbitrator, giving
the name, address and telephone number of said arbitrator; (b) The party receiving such notice
shall notify the party demanding the arbitration of his or its arbitrator, giving the name, address
and telephone number of the arbitrator within five (5) days of the receipt of such Demand for
Arbitration; (c) A neutral person shall be selected through the American Arbitration Association’s
arbitrator selection procedures to serve as the third arbitrator. The arbitrator designated by any
party need not be neutral. In the event that any person fails or refuses timely to name his
arbitrator within the time specified in this Section 8, the American Arbitration Association shall
(immediately upon notice from the other party) appoint an arbitrator. The arbitrators thus
constituted shall promptly meet, select a chairperson, fix the time, date(s), and place of the
hearing, and notify the parties. To the extent practical, the arbitrators shall schedule the
hearing to commence within sixty (60) days after the arbitrators have been impaneled. A majority
of the panel shall render an award within ten (10) days of the completion of the hearing, which
award may include an award of interest, legal fees and costs of arbitration. The panel of
arbitrators shall promptly transmit an executed copy of the award to the respective parties. The
award of the arbitrators shall be final, binding and conclusive upon the parties hereto. Each
party shall have the right to have the award enforced by any court of competent jurisdiction.

	 	 	 	 	 	 	 	 	 	 	 
	Executive initials:

	 	 

	 	     
	 	Company initials:
	 	 

	 	     

     9. NO WAIVER. No provision of this Agreement may be modified, waived or discharged unless
such waiver, modification or discharge is approved by the Board and agreed to in a writing signed
by the Executive and such officer as may be specifically authorized by the Board. No waiver by
either party hereto at any time of any breach by the other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party shall be deemed a
waiver of any other provisions or conditions of this Agreement at the same or at any prior or
subsequent time.

     10. SUCCESSORS AND ASSIGNS. The rights and obligations of the Company under this Agreement
shall inure to the benefit of and be binding upon the successors and assigns of the Company and the
Executive’s rights under this Agreement shall inure to the benefit of and be binding upon his heirs
and executors. Neither this Agreement or any rights or obligations of the Executive herein shall
be transferable or assignable by the Executive.

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     11. VALIDITY. The invalidity or unenforceability of any provision or provisions of this
Agreement shall not affect the validity or enforceability of any other provisions of this
Agreement, which shall remain in full force and effect. The parties intend for each of the
covenants contained in Section 4 to be severable from one another.

     12. SURVIVAL. The provisions of Section 4 hereof shall survive the termination of Executive’s
employment and shall be binding upon the Executive’s personal or legal representative, executors,
administrators, successors, heirs, distributees, devisees and legatees and the provisions of
Section 5 hereof relating to payments and termination of the Executive’s employment hereunder shall
survive such termination and shall be binding upon the Company.

     13. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original but all of which together will constitute one and the same
instrument.

     14. ENTIRE AGREEMENT. This Agreement constitutes the full agreement and understanding of the
parties hereto with respect to the subject matter hereof and all prior or contemporaneous
agreements or understandings are merged herein. The parties to this Agreement each acknowledge
that both of them and their respective agents and advisors were active in the negotiation and
drafting of the terms of this Agreement.

     15. GOVERNING LAW. The validity, construction and enforcement of this Agreement, and the
determination of the rights and duties of the parties hereto, shall be governed by the laws of the
State of Georgia.

     16. DEFERRED COMPENSATION PLAN OMNIBUS PROVISIONS. Notwithstanding any other provision of this
Agreement, it is intended that any payment or benefit which is provided pursuant to or in
connection with this Agreement which is considered to be deferred compensation subject to Section
409A of the Code shall be provided and paid in a manner, and at such time, including without
limitation payment and provision of benefits only in connection with a permissible payment event
contained in Section 409A (e.g., death or separation from service from the Company and its
affiliates as defined for purposes of Section 409A of the Code), and in such form, as complies with
the applicable requirements of Section 409A of the Code, to avoid the unfavorable tax consequences
provided therein for non-compliance. For purposes of this Agreement, all rights to payments and
benefits hereunder shall be treated as rights to receive a series of separate payments and benefits
to the fullest extent allowed by Section 409A of the Code. If Executive is a “specified employee”
(as defined in Section 409A of the Code) and any of the Company’s stock is publicly traded on an
established securities market or otherwise, then payment of any amount or provision of any benefit
under this Agreement which is considered to be deferred compensation subject to Section 409A of the Code
shall be deferred for six (6) months as required by Section 409A(a)(2)(B)(i) of the Code (the “409A
Deferral Period”). In the event such payments are otherwise due to be made in installments or
periodically during the 409A Deferral Period, the payments which would otherwise have been made in
the 409A Deferral Period shall be accumulated and paid in a lump sum as soon as the 409A Deferral
Period ends, and the balance of the payments shall be made as otherwise scheduled. In the event
benefits are required to be deferred, any such benefit may be

- 12 -

 

provided during the 409A Deferral
Period at Executive’s expense, with Executive having a right to reimbursement from the Company once
the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise
scheduled. For purposes of this Agreement, any termination of employment will be read to mean a
“separation from service” within the meaning of Section 409A of the Code where it is reasonably
anticipated that no further services would be performed after such date or that the level of bona
fide services Executive would perform after that date (whether as an employee or independent
contractor) would permanently decrease to less than fifty percent (50%) of the average level of
bona fide services performed over the immediately preceding thirty-six (36)-month period.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

	 	 	 	 	 	 	 
	 	 	AGCO CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	     
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	     
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	     
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	     
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	     
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 

	 	     

- 13 -

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