Document:

EX-10.4

 Exhibit 10.4 

 

			
	

	  	Human Resources Department

 May 14, 2015 
 Mr. Curtis Lu 
 1203 Stonnell Place 
 Alexandria, VA 22302 
 Re: Offer of Employment 

Dear Curtis: 
 We are delighted
to extend to you the following Offer of Employment at FTI Consulting, Inc. (the “Company”). Subject to Board and Compensation Committee approval, the terms of your employment will be as follows: 

 

	 	1.	Position. General Counsel 

  

	 	2.	Base Salary. You will be classified as a full-time, exempt, regular employee at an annualized base salary of $500,000 per year which will be paid in bi-weekly
increments of $19,230.77, minus taxes and withholdings. 

  

	 	3.	Bonus Opportunity. Subject to Board approval and beginning in 2016, you will participate in the Executive Incentive Compensation Plan (“EICP”) with
bonus opportunities set annually upon achievement of corporate and individual goals. Your target bonus opportunity shall be 100% of Base Salary and maximum bonus opportunity shall be 150% of Base Salary. You must be employed on the bonus payment
date to earn any such bonus. To the extent consistent with the form of bonus payments made to other executives of the Company, your annual bonus, if any, may be paid by paying two-thirds in cash and one-third in the form of time-vesting restricted
stock if available. 

  

	 	4.	Annual LTIP Award. Subject to Board approval and beginning in 2016, you shall participate in the Company’s Executive long-term incentive program applicable
to senior executives (the “LTIP”) and will have an expected annual LTIP target opportunity of $500,000, valued in accordance with the Committee practice. The actual LTIP award granted and the terms and conditions of any LTIP award shall be
subject to the discretion of the Committee and may be settled through cash or stock; provided that the terms and conditions of any LTIP award shall be the same as for similar awards made contemporaneously to any senior executive officers of the
Company. 

  

	 	5.	Signing Bonus. Subject to Compensation Committee approval, FTI shall provide you with a sign on package valued at $200,000 which will consist of $100,000 cash
payable upon the commencement of your employment and shares of restricted common stock of FTI valued at $100,000.00 based on the closing share price as of the date of grant. The date of grant for the restricted stock award shall not be prior to the
date that you first commence employment with the Company. Should your employment with the company terminate for any reason other than termination without cause or termination by you with good reason prior to your first anniversary, the cash bonus
will be repayable. The restricted stock award shall vest on the first anniversary of the grant date. In the event of your termination without cause or termination by you with good reason, the unvested portions of the restricted stock award will
immediately vest. All other terms, including vesting terms on other termination events, shall be consistent with the Company’s general form of restricted stock award agreements, as the case may be. 

 
 

 

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	 	6.	2015 Bonus: in lieu of participation in the Bonus Opportunity and LTIP award for 2015 and subject to Board approval, FTI shall provide you with a cash bonus
valued at $400,000 which amount will be payable no later than March 2016 in accordance with standard procedure for payment of annual bonuses. 

  

	 	7.	Paid Time Off. You will be entitled to five weeks of paid time off annually. Paid time off is not an accrued benefit and unused time is not rolled over from year
to year or paid out upon employment termination. 

  

	 	8.	Benefits. Effective the first of the month following your start date (or effective that day if your start date is on the first of a month), you will be eligible
to participate in FTI’s group health benefit plan. Additionally, you will be eligible to participate in FTI’s 401(k) plan effective immediately following your first day of employment with the firm. More details are provided within the
Employee Benefits Summary. 

  

	 	9.	Payments on Termination of Employment. 

  

	 	a.	Termination by Company for Cause or by Employee Without Good Reason. If Company terminates Employee’s employment for Cause or if Employee resigns without
Good Reason, Company will promptly, no later than 30 days from the date of such termination of employment, pay to Employee: 

  

	 	i.	the unpaid amount, if any, of Employee’s Base Salary through the effective date of termination; 

 

	 	ii.	the amount of any substantiated but previously unreimbursed business expenses incurred through the date of termination; and 

 

	 	iii.	any additional entitlements, if any, to which Employee is entitled under the terms of this Offer or any Company benefit plan or arrangement in which Employee was a
participant. 

 The aggregate of the amounts described in Section 9(a)(i) through Section 9(a)(iii)
hereunder shall be referred to in this Agreement as the “Accrued Compensation”. 
  

	 	b.	Termination by Company Without Cause or by Employee for Good Reason. If Company terminates Employee’s employment without Cause (defined below) or Employee
resigns for Good Reason (defined below), Employee will be entitled to receive the following payments and benefits: 

  

	 	i.	any Accrued Compensation, which amount shall be paid in a lump sum within 30 days of the date of termination; 

 

	 	ii.	continued payment of Employee’s Base Salary for the salary continuation period specified below (the “Salary Continuation Period”); provided that such
amount shall be increased to one times the sum of Employee’s (i) Base Salary plus (ii) Target bonus for the year of termination if such termination occurs during the 18-month period after a Change in Control (as defined in the
Company’s 2009 Omnibus Incentive Plan); and 

  

	 	iii.	 continuing group health and group life insurance coverage for Employee and, where applicable, Employee’s spouse and eligible dependents
(“Benefit Continuation Coverage”) during the Salary Continuation Period at the same benefit and contribution levels in effect from time to time with respect to active similarly situated employees of Company or FTI. If and to the extent
such Benefit Continuation Coverage is not permitted by the applicable plan or by applicable law, Employee will instead be entitled to cash payments sufficient to 

  
 

 

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reimburse Employee and/or Employee’s spouse and eligible dependents, on an after tax basis, for the actual cost of comparable individual or other replacement coverage through the end of the
Salary Continuation Period. The group health portion of Benefit Continuation Coverage will be in addition to and not in lieu of COBRA continuation coverage. The Company may modify its obligations under this Section 9(b) to the extent reasonably
necessary to avoid any penalty or excise taxes imposed on it in connection with the continued payment of premiums by the Company under the Patient Protection and Affordable Care Act of 2010, as amended (“PPACA”). 

For purposes hereof, Good Reason shall mean 
 (i) a material adverse change in Employee’s title, duties or responsibilities (including reporting responsibilities); 
 (ii) a material reduction in Employee’s Base Salary; 
 (iii) a required
relocation of Employee’s principal office by more than 50 miles from his office location in Washington, D.C.; or 
 (iv)
any failure to assign to a successor to the business and substantially all assets of the Company, and of such successor to assume, the obligations of the Company under all applicable plans and agreements with Employee; provided that Good Reason
shall not exist unless and until Employee provides the Company with written notice thereof within ninety (90) days of the date Employee knows or should have known about the initial occurrence of such event, the Company fails to cure such acts
within thirty (30) days of receipt of such notice and Employee terminates employment within thirty (30) days following the expiration of such cure period, otherwise grounds for Good Reason on account of such occurrence shall lapse.

 For Purposes hereof, the following events constitute Cause: If Employee 

(i) is convicted of or pleads nolo contendere to a felony; 

(ii) commits fraud with respect to, or misappropriates any funds or property of, the Company or any affiliate, customer or client of the
Company; 
 (iii) engages in any act or omission which is in material violation of any material policy of the Company;

 (iv) engages in willful material misconduct or gross negligence in connection with the performance of his duties; 

(v) substantially fails to perform his material duties after written request for such performance from the Board; 

(vi) continues to fail to reasonably cooperate in any audit or investigation regarding the Company or its business practices after
written request for such performance from the Board; or 
 (vii) engages in any material misconduct that significantly adversely
affects, or is likely to significantly adversely affect, the business or reputation of the Company. Employee’s termination for Cause will be effective 

  
 

 

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immediately upon the Company’s mailing or transmitting written notice of such termination. For purposes of sub-clause (iv) above, no act or omission shall be “willful” if such
conduct was in good faith and with a reasonable belief that such act or omission was in the best interests of the Company. 
  

	 	c.	General Release. Employee (or Employee’s estate or other beneficiary) shall provide FTI with an executed and effective general release (the
“Release”) of all claims arising under this Offer of Employment or arising out of Employee’s employment relationship with FTI, in a form acceptable to FTI, and such Release must be executed by the Employee and no longer subject
to revocation within sixty (60) days of the Employee’s final day of employment, as a condition of receipt of any salary continuation, accelerated vesting of such options or other equity awards, or continued benefits pursuant to this
Section 9. Any amounts payable pursuant to this Section 9 shall not be paid until the first scheduled payment date following the date the Release is executed and no longer subject to revocation, with the first such payment being in an
amount equal to the total amount to which Employee would otherwise have been entitled during the period following the date of termination if such deferral had not been required; provided, however, that to the extent that any such payments constitute
“nonqualified deferred compensation” for purposes of Code Section 409A, and the sixty (60) day period following the Employee’s final day of employment begins in one taxable year of the Employee and ends in a second taxable
year, then such payment will be made in the second taxable year to the extent necessary to avoid the adverse tax consequences under Code Section 409A, and, if such payments are required to be so deferred, the first payment shall be in an amount
equal to the total amount to which Employee would otherwise have been entitled during the period following the date of termination if such deferral had not been required. 

 

	 	10.	Non-Competition Covenants. Recognizing that Employee is receiving substantial compensation and access to FTI confidential information, Employee acknowledges that
during the Restricted Period (defined below), Employee will not, directly or indirectly, be employed by (where Employee’s employment would involve any level of strategic, advisory, technical, creative, sales, or other similar input), lend money
to, invest in, or engage in a Competing Business (defined below) in any Market Area (defined below). This prohibition includes, but is not limited to, acting, either singly or jointly or as agent for, or as an employee of or consultant or
independent contractor to, any one or more persons, firms, entities, or corporations directly or indirectly (as a director, independent contractor, representative, consultant, member, or otherwise) in such Competing Business. Notwithstanding the
foregoing, (a) Employee may own up to five percent (5%) of the outstanding capital stock of any corporation or other entity that is publicly traded, and (b) following the termination of Employee’s employment hereunder, Employee may
provide services as an officer, consultant, employee, director, partner or otherwise to an entity engaged in multiple business lines (including a business line that is a Competing Business) provided that the business line(s) for which Employee
provides services is not a Competing Business. 

  

	 	11.	Non-solicitation Covenants. During the Restricted Period (defined below), Employee will not, directly or indirectly, whether for Employee or for any other
individual or entity (other than Company), intentionally: 

  

	 	a.	solicit business regarding any case or matter about which Employee was aware during the term of your employment; 

 

	 	b.	solicit any person or entity who is a client of the Company’s business within a twenty-four (24) month period of time
immediately prior to the termination of Employee’s employment with the Company; or 

  

	 	c.	 solicit, induce or otherwise attempt to influence any person who the Company employs or otherwise engages to perform services including, but not
limited to, any employees, independent 

  
 

 

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consultants, engineers, or sales representatives, or any contractor, subcontractor, supplier, or vendor of the Company, to leave the employ of or discontinue providing services to the Company,
provided, however, that this restriction will not apply in the case of any clerical employee of the Company or in the case of any other employee whose employment with the Company has been terminated for at least one (1) year.

  

	 	12.	Confidential Information of Company. Employee’s association with Company under this Offer of Employment has given and will give Employee access to
Confidential Information (defined below) not generally known outside of Company that may be of value to Company or that has been given to Company in confidence by third parties. Employee acknowledges and agrees that using, disclosing, or publishing
any Confidential Information in an unauthorized or improper manner could cause Company substantial loss and damages that could not be readily calculated and for which no remedy at law would be adequate. Accordingly, Employee will not at any time,
except in performing the duties of Employee’s employment under this Offer of Employment (or with the prior written consent of the FTI Board of Directors or Senior Management), directly or indirectly, use, disclose, or publish any Confidential
Information that Employee may learn or become aware of, or may have learned or have become aware of because of Employee’s association with Company, or use any such Confidential Information in a manner that is or may reasonably be likely to be
detrimental to the business of Company. For the purposes hereof, the term “Confidential Information” includes, without limitation, information not previously disclosed to the public or to the trade by Company with respect to its or their
present or future business, operations, services, products, research, inventions, discoveries, drawings, designs, plans, processes, models, technical information, facilities, methods, trade secrets, copyrights, software, source code, systems,
patents, procedures, manuals, specifications, any other intellectual property, confidential reports, price lists, pricing formulas, customer lists, financial information, business plans, lease structure, projections, prospects, or opportunities or
strategies, acquisitions or mergers, advertising or promotions, personnel matters, legal matters, proposals, response to any request for proposal, any other confidential and proprietary information, and any other information not generally known
outside Company that may be of value to Company, but excludes any information already properly in the public domain. Confidential Information also includes confidential and proprietary information and trade secrets that third parties entrust to FTI
or Company in confidence. Confidential Information shall not include any information that (i) has been properly published in a form generally available to the public prior to the date Employee proposes to disclose or use such information or
otherwise is or becomes public knowledge through legal means without fault by Employee, (ii) is already public knowledge prior to the signing of this Offer, (iii) was disclosed by the Employee in the proper performance of the
Employee’s duties hereunder, or (iv) must be disclosed pursuant to applicable law, court order or pursuant to the request of a governmental authority. Information shall not be deemed to have been published merely because individual
portions of the information have been separately published, but only if all material features comprising such information have been published in combination. Employee understands and agrees that the rights and obligations set forth in this Section
will continue indefinitely and will survive termination of Employee’s employment with Company. 

  

	 	13.	Confidential Information of Others. Employee will not use in working for Company and will not disclose to Company any trade secrets or other information Employee
does not have the right to use or disclose and that Company is not free to use without liability of any kind. Employee will promptly inform Company in writing of any patents, copyrights, trademarks, or other proprietary rights known to Employee that
Company may violate because of information provided to it by Employee. 

  

	 	14.	 Property Rights. Employee confirms that all Confidential Information is and must remain the exclusive property of Company. All business records,
business papers, and business documents kept or created by Employee in the course of Employee’s employment by Company relating to the business of 

  
 

 

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Company must be and remain the property of Company. Notwithstanding the foregoing, Employee may retain Employee’s rolodex, palm pilot or similar device, and solely the personal non-business
information stored thereon, to the extent such device does not contain Confidential Information or other property belonging to Company (written or otherwise) not otherwise in the public domain. Employee will not retain copies, excerpts, summaries,
or compilations of the foregoing information and materials following the termination of employment. The rights and obligations set forth in this Section will survive for a period of two (2) years following the termination of Employee’s
employment with Company. 

  

	 	15.	Intellectual Property. 

  

	 	a.	All records, in whatever media, documents, papers, inventions and notebooks, drawings, designs, technical information, source code, object code, processes, methods or
other copyrightable or otherwise protected works Employee conceives, creates, makes, invents or discovers or that otherwise relate to any work Employee performs or performed for Company or that arise from the use or assistance of Company’s
facilities, materials, personnel or Confidential Information in the course of Employee’s employment (whether or not during usual working hours), whether conceived, created, discovered, made or invented individually or jointly with others, will,
together with all the worldwide patent, copyright, trade secret, or other intellectual property rights in all such works, be and remain the absolute property of Company. Employee irrevocably and unconditionally waives all rights that may otherwise
vest in Employee’s authorship (on or after the date of employment) in connection with Employee’s authorship of any such copyrightable works in the course of Employee’s employment with Company, wherever in the world enforceable.
Without limitation, Employee waives the right to be identified as the author of any such works and the right not to have any such works subjected to derogatory treatment. Employee recognizes any such works are “works for hire” of which
Company is the author. 

  

	 	b.	Subject to Section 15(d), Employee will promptly disclose, grant and assign ownership to Company for its sole use and benefit any and all ideas, processes,
inventions, discoveries, improvements, technical information, and copyrightable works (whether patentable or not) that Employee develops, acquires, conceives or reduces to practice (whether or not during usual working hours) while employed by
Company. Subject to Section 15(d), Employee will promptly disclose and hereby grants and assigns ownership to Company of all patent applications, letters patent, utility and design patents, copyrights and reissues thereof, or any foreign
equivalents thereof, that may at any time be filed or granted for or upon any such invention, improvement, or information. In connection therewith: 

  

	 	i.	Employee will, without charge but at Company’s expense, promptly execute and deliver such applications, assignments, descriptions and other instruments as Company
may consider reasonable, necessary or proper to vest title to any such inventions, discoveries, improvements, technical information, patent applications, patents, copyrightable work or reissues thereof in Company and to enable it to obtain and
maintain the entire worldwide right and title thereto; and 

  

	 	ii.	 Employee will provide to Company at its expense all such assistance as Company may reasonably require in the prosecution of applications for such
patents, copyrights or reissues thereof, in the prosecution or defense of interferences that may be declared involving any such applications, patents or copyrights and in any litigation in which Company may be involved relating to any such patents,
inventions, discoveries, improvements, technical information or copyrightable works or reissues thereof. Company will reimburse Employee for reasonable out-of-pocket expenses incurred and pay Employee reasonable compensation

  
 

 

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(at a rate not less than the last prevailing fixed compensation rate received by the Employee during Employee’s employment hereunder) for Employee’s time if Company no longer employs
Employee. 

  

	 	c.	To the extent, if any, that Employee owns rights to works, inventions, discoveries, proprietary information, and copyrighted or copyrightable works, or other forms of
intellectual property that are incorporated in the work product Employee creates for Company, Employee agrees that Company will have an unrestricted, nonexclusive, royalty-free, perpetual, transferable license to make, use, sell, offer for sale, and
sublicense such works and property in whatever form, and Employee hereby grants such license to Company. 

  

	 	d.	Notwithstanding the foregoing, this Section 15 (relating to records, documents, papers, inventions, notebooks, source code, object code, processes, methods, patent
applications, letters patent, processes, inventions, discoveries, improvements, technical information, ideas, copyrightable works, copyrights and reissues thereof, and other intellectual property described above, together with any foreign
equivalents thereof (each, an “IP Asset”) )shall not apply to any IP Asset for which no equipment, supplies, facility or trade secret information of Company (including any of its predecessors) was used and that was developed entirely on
Employee’s own time, unless (a) the IP Asset relates (i) directly to the business of Company, or (ii) Company’s actual or anticipated research or development, or (b) the IP Asset results from any work Employee performed
as an employee of Company. 

  

	 	16.	Definitions. For purposes of Sections 10 through 15, the following terms shall have the meaning set forth below: 

 

	 	a.	Restricted Period. For purposes hereof, the term “Restricted Period” means the period beginning on the date of the signing of this offer and ending on
the date that is twelve months from employee’s date of termination. Notwithstanding the foregoing, the Restricted Period will terminate immediately upon the breach by the Company of its obligations under this Offer of Employment. The duration
of the Restricted Period will be extended by the amount of any and all periods that Employee violates the covenants of any of Sections 10 and 11. 

  

	 	b.	Salary Continuation Period. Twelve months 

  

	 	c.	Competing Business. For the purposes hereof, the term “Competing Business” means consulting services, including any lines of business actively
conducted by the Company during the period of Employee’s employment with Company and at the time Employee’s employment ends. 

  

	 	d.	Market Area. For purposes hereof, the term “Market Area” means the area within a 50 mile radius of any location in which Company has an office.

  

	 	17.	Enforceability. If any of the provisions of Sections 10 through 15 are ever deemed to exceed the time, geographic area, or activity limitations the law permits,
the limitations will be reduced to the maximum permissible limitation, and Employee and Company authorize a court or arbitrator having jurisdiction to reform the provisions to the maximum time, geographic area, or activity limitations the law
permits; provided, however, that such reductions apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made. 

 

	 	18.	 Remedies. Without limiting the remedies available to the parties, each party acknowledges that a breach of any of the covenants in Sections 10
through 15 may result in material irreparable injury to Company for which there is no adequate remedy at law, and that it will not be possible to measure damages for such injuries precisely. The parties agree that, if there is a breach or threatened
breach of such covenants, Company will be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction restraining Employee from engaging in prohibited activities or such other

  
 

 

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relief as may be required to specifically enforce any of said covenants. Each party agrees that all remedies expressly provided for in this Offer of Employment are cumulative of any and all other
remedies now existing at law or in equity. In addition to the remedies provided herein, the parties will be entitled to avail themselves of all such other remedies as may now or hereafter exist at law or in equity for compensation, and for the
specific enforcement of the covenants contained in Sections 11 through 16. Resorting to any remedy provided for in this Section or provided for by law will not prevent the concurrent or subsequent employment of any other appropriate remedy or
remedies, or preclude a recovery of monetary damages and compensation. 

  

	 	19.	Employment at Will. You will be an employee-at-will. Employment may be terminated by either party for any reason at any time, with or without cause.

  

	 	20.	Section 409A Compliance. 

  

	 	a.	General. If Employee notifies the Company (with specificity as to the reason therefor) that Employee believes that any provision of this Offer Letter (or of any
award of compensation or benefits) would cause Employee to incur any additional tax or interest under Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”)
and the Company concurs with such belief or the Company (without any obligation whatsoever to do so) independently makes such determination, the Company shall, with the consent of Employee, reform such provision to attempt to comply with Code
Section 409A through good faith modifications to the minimum extent reasonably appropriate to conform with Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such
modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to Employee and the Company of the applicable provision without violating the provisions of Code
Section 409A. 

  

	 	b.	“Separation from Service”; “Specified Employee”; Six-Month Delay. A termination of employment shall not be deemed to have occurred for
purposes of any provision of this Offer Letter providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code
Section 409A and, for purposes of any such provision of this Offer Letter, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If Employee is deemed on the
date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered deferred compensation under Code
Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of
such “separation from service” of Employee, and (ii) the date of Employee’s death. Upon the expiration of such six-month delay period, all payments and benefits delayed pursuant to this Section (whether they would have otherwise
been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to Employee in a lump sum, and any remaining payments and benefits due under this Offer Letter shall be paid or provided in accordance with the
normal payment dates specified for them herein. 

  

	 	c.	 Reimbursement of Expenses. Notwithstanding anything to the contrary in this Offer Letter, with respect to any reimbursement of expenses of, or
any provision of in-kind benefits to, Employee, as specified under this Offer Letter, the reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (i) the expenses eligible for
reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year; (ii) the

  
 

 

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reimbursement of an eligible expense shall be made no later than the end of the taxable year after the taxable year in which such expense was incurred; and (iii) the right to reimbursement
or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

  

	 	d.	Installment Payments: Specified Payment Periods. For purposes of Code Section 409A, the right to a series of installment payments under this Offer Letter
shall be treated as a right to a series of separate payments. Whenever a payment under this Offer Letter specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole
discretion of the Company. 

  

	 	e.	Change in Control Definition. Notwithstanding anything to the contrary in this Offer Letter, for purposes of the payment of any deferred compensation hereunder,
an event shall not be considered to be a “Change in Control” hereunder unless such event is also a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of
the assets” of the Company within the meaning of Code Section 409A. 

  

	 	21.	Governing Law. The Offer of Employment will be governed by the laws of the state of Maryland, without regard to any conflict of laws provisions.

 This offer is contingent upon your: (1) fully disclosing to FTI the terms of any prior or existing
employment contracts and any limitations on your employment with FTI, (2) stating that you have not breached any such obligation, whether expressed or implied, (3) agreeing that if such obligations do exist, you will not knowingly or
willfully violate any such terms or limitations so long as they remain in force, and (4) stating that notwithstanding any other obligation binding on you, that you are available to start work with FTI on the agreed upon date. 

We think you will find FTI Consulting a challenging and rewarding place to work and look forward to your favorable response to our offer.
If you have any questions regarding group benefits or human resources related issues, please feel free to contact me at (254)848-4084. 

Sincerely, 
 Holly Paul 

Chief Human Resources Officer 
 Enclosures

 I hereby accept the terms of this letter as outlined above. 
  

					
	 

  
	 		 	 May 19, 2015

	Curtis Lu	 		 	DateEX-10.1

 Exhibit 10.1 

AWARD AGREEMENT 
 STOCK
UNITS 
 The Executive Compensation Committee of the Gannett Co., Inc. Board of Directors has approved an award of Restricted Stock
Units (referred to herein as “Stock Units”) to you under the Gannett Co., Inc. 2015 Omnibus Incentive Compensation Plan, as set forth below. 

This Award Agreement and the enclosed Terms and Conditions effective as of July 28, 2015, constitute the formal agreement governing this
award. 
 Please sign both copies of this Award Agreement to evidence your agreement with the terms hereof. Keep one copy and return the
other to the undersigned. 
 Please keep the enclosed Terms and Conditions for future reference. 

 
  
  

			
	Director:
	
	Grant Date:     /    /    
	
	Stock Unit Commencement Date:     /    /    
		
	Stock Unit Vesting Schedule:	  	25% of the Stock Units shall vest on August 1, 20     [year of Grant Date]
		  	25% of the Stock Units shall vest on November 1, 20     [year of Grant Date]
		  	25% of the Stock Units shall vest on February 1, 20     [year following Grant Date]
		  	25% of the Stock Units shall vest on earlier of May 1, 20     [year following Grant Date] or the date of the 20     Annual Meeting [year following Grant Date]

 Number of Stock Units: 
  

					
	  

		  	Gannett Co., Inc.
			
	  
	  	By:	  	  

	 Director’s Signature
	  		  	    David Harmon
		  		  	    Chief People Officer

 STOCK UNITS 

TERMS AND CONDITIONS 
 Under the

 Gannett Co., Inc. 
 2015
Omnibus Incentive Compensation Plan 
 These Terms and Conditions, dated July 28, 2015, govern the grant of Restricted Stock Units
(referred to herein as “Stock Units”) to the director (the “Director”) designated in the Award Agreement dated coincident with these Terms and Conditions. The Stock Units are granted under, and are subject to, the Gannett Co.,
Inc. (the “Company”) 2015 Omnibus Incentive Compensation. Terms used herein that are defined in the Plan shall have the meaning ascribed to them in the Plan. If there is any inconsistency between these Terms and Conditions and the terms of
the Plan, the Plan’s terms shall supersede and replace the conflicting terms herein. 
 1. Grant of Stock Units. Pursuant to the
provisions of (i) the Plan, (ii) the individual Award Agreement governing the grant, and (iii) these Terms and Conditions, the Company has granted to the Director the number of Stock Units set forth on the applicable Award Agreement.
Each Stock Unit shall entitle the Director to receive from the Company one share of the Company’s common stock (“Common Stock”) upon the Director’s separation from service. 

2. Vesting Schedule. Except as otherwise provided in Sections 6 and 13, the Stock Units shall vest in accordance with the Vesting
Schedule specified in the Award Agreement; provided that the Director continues as a director of the Company until the dates specified in the Vesting Schedule. 

3. Dividend Units. Dividend units shall be credited to the Director with regard to the Stock Units. Dividend units shall be calculated
based on the dividends paid on shares of Common 

 
Stock. Dividend units shall be deemed to be reinvested in shares of Common Stock as of the date dividends are paid on Common Stock, shall be paid to the Director at the same time and in the same
form as Stock Units are paid to the Director and are subject to the same terms and conditions as the Stock Units, including, without limitation, the same vesting requirements. 

4. Delivery of Shares. The Company shall deliver to the Director a certificate or certificates, or at the election of the Company make
an appropriate book-entry, for the number of shares of Common Stock equal to the number of vested Stock Units as soon as administratively practicable after the Director separates from service, but no later than 30 days from that date. A Director
shall have no further rights with regard to the Stock Units once the underlying shares of Common Stock have been delivered. 
 5.
Cancellation of Stock Units. Except as provided in Sections 6 and 13 below, all unvested Stock Units granted to the Director shall automatically be cancelled upon the Director’s separation from service, and in such event the Director
shall not be entitled to receive any shares of Common Stock in respect thereof. 
 6. Death, Disability or Retirement. In the event
that the Director separates from service on or prior to the Stock Unit Vesting Date due to death, Disability or the age of service limitations set forth in the Company’s Bylaws, the Director (or in the case of the Director’s death, the
Director’s estate or designated beneficiary) shall be entitled to receive at the time of the Director’s death or separation from service the total number of shares of Common Stock in respect of such Stock Units which the Director would
have been entitled to receive had the Director continued employment until the Stock Unit Vesting Date. For purposes of this Award Agreement, Disability shall mean the Director is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

  
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 7. Non-Assignability. Stock Units may not be transferred, assigned, pledged or
hypothecated, whether by operation of law or otherwise, nor may the Stock Units be made subject to execution, attachment or similar process. 

8. Rights as a Shareholder. The Director shall have no rights as a shareholder by reason of the Stock Units. 

9. Discretionary Plan; Employment. The Plan is discretionary in nature and may be suspended or terminated by the Company at any time.
With respect to the Plan, (a) each grant of Stock Units is a one-time benefit which does not create any contractual or other right to receive future grants of Stock Units, or benefits in lieu of Stock Units; (b) all determinations with
respect to any such future grants, including, but not limited to, the times when the Stock Units shall be granted, the number of Stock Units, and the Vesting Schedule, will be at the sole discretion of the Company; (c) the Director’s
participation in the Plan is voluntary; and (d) the future value of the Stock Units is unknown and cannot be predicted with certainty. 

10. Effect of Plan and these Terms and Conditions. The Plan is hereby incorporated by reference into these Terms and Conditions, and
these Terms and Conditions are subject in all respects to the provisions of the Plan, including without limitation the authority of the Executive Compensation Committee of the Company (the “Committee”) in its sole discretion to adjust
awards and to make interpretations and other determinations with respect to all matters relating to the applicable Award Agreements, these Terms and Conditions, the Plan and awards made pursuant thereto. These Terms and Conditions shall apply to the
grant of Stock Units made to the Director on the date hereof and shall not apply to any future grants of Stock Units made to the Director. 

11. Notices. Notices hereunder shall be in writing and if to the Company shall be addressed to the Secretary of the Company at 7950
Jones Branch Drive, McLean, Virginia 22107, and if to the Director shall be addressed to the Director at his or her address as it appears on the Company’s records. 

  
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 12. Successors and Assigns. The applicable Award Agreement and these Terms and Conditions
shall be binding upon and inure to the benefit of the successors and assigns of the Company and, to the extent provided in Section 6 hereof, to the estate or designated beneficiary of the Director. 

13. Change in Control Provisions. 

Notwithstanding anything to the contrary in these Terms and Conditions, the following provisions shall apply to all Stock Units granted under
the attached Award Agreement. 
 (a) Definitions. 

As used in Article 15 of the Plan and in these Terms and Conditions, a “Change in Control” shall mean the first to occur of the
following: 
 (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (A) the then-outstanding shares of common stock
of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company
Voting Securities”); provided, however, that, for purposes of this Section, the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company,
(iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or one of its affiliates or (iv) any acquisition pursuant to a transaction that complies with Sections 13(a)(iii)(A),
13(a)(iii)(B) and 13(a)(iii)(C); 

  
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 (ii) individuals who, as of the date hereof, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election or nomination for election by the Company’s stockholders
was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial
assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the
Board; 
 (iii) consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction
involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a
“Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the
Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting
securities entitled to vote generally in the election of directors, as the case may be, of the corporation or entity resulting from such Business Combination (including, without limitation, a corporation or entity that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of
the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding 

  
 -5- 

 
any employee benefit plan (or related trust) of the Company or any corporation or entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of,
respectively, the then-outstanding shares of common stock of the corporation or entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation or entity, except to the
extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors of the corporation or entity resulting from such Business Combination were members of the Incumbent Board
at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 
 (iv)
approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 
 (b) Acceleration Provisions.
In the event of the occurrence of a Change in Control, the vesting of the Stock Units shall be accelerated and, if such Change in Control constitutes a “change in control event” within the meaning of Section 409A of the Code, there
shall be paid out to the Director within thirty (30) days following the effective date of the Change in Control, the full number of shares of Common Stock subject to the Stock Units. In the event of the occurrence of a Change in Control that is
not a “change in control event” within the meaning of Section 409A of the Code, the vesting of the Stock Units shall be accelerated and the Stock Units shall be paid out at the Director’s separation from service. 

(c) Legal Fees. The Company shall pay all legal fees, court costs, fees of experts and other costs and expenses when incurred by
Director in connection with any actual, threatened or contemplated litigation or legal, administrative or other proceedings involving the provisions of this Section 13, whether or not initiated by the Director. The Company agrees to pay such
amounts within 10 days following the Company’s receipt of an invoice from the Director, provided that the Director shall have submitted an invoice for such amounts at least 30 days before the end of the calendar year next following the calendar
year in which such fees and disbursements were incurred. 

  
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 14. Applicable Laws and Consent to Jurisdiction. The validity, construction,
interpretation and enforceability of this Agreement shall be determined and governed by the laws of the State of Delaware without giving effect to the principles of conflicts of law. For the purpose of litigating any dispute that arises under this
Agreement, the parties hereby consent to exclusive jurisdiction in Virginia and agree that such litigation shall be conducted in the courts of Fairfax County, Virginia or the federal courts of the United States for the Eastern District of Virginia.

 15. Compliance with Section 409A. This Award is intended to comply with the requirements of Section 409A, and shall be
interpreted and administered in accordance with that intent (e.g., the definition of “separates from service” or “separation from service” (or similar term used herein) shall have the meaning ascribed to “separation from
service” under Section 409A). If any provision of these Terms and Conditions would otherwise conflict with or frustrate this intent, the provision shall not apply. Solely to the extent required by Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”), if the Director is a “specified employee” (within the meaning of Code Section 409A and the regulations and guidance issued thereunder (“Section 409A”)) and if delivery of
shares is being made in connection with the Director’s separation from service other than by reason of the Director’s death, delivery of the shares shall be delayed until six months and one day after the Director’s separation from
service with the Company (or, if earlier than the end of the six-month period, the date of the Director’s death). 

  
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