SEC Contract Filing

Filing Date: 2019-01-31

Document Content:
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<TYPE>EX-10.1
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<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FAIR ISAAC CORPORATION </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TRANSITION AND RETIREMENT AGREEMENT </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>WITH MICHAEL&nbsp;J. PUNG </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS TRANSITION AND RETIREMENT AGREEMENT (the &#147;Agreement&#148;) is made and entered into as of January&nbsp;30, 2019 (the &#147;Effective
Date&#148;) by and between Fair Isaac Corporation, a Delaware corporation (the &#147;Company&#148;), and Michael&nbsp;J. Pung, a resident of California (&#147;Pung&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>BACKGROUND </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;Pung began his employment with the Company in 2004 and currently serves as the Company&#146;s Executive Vice
President, Chief Financial Officer and Investor Relations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Pung entered into a letter agreement
dated February&nbsp;6, 2012 (the &#147;Letter Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Pung entered into an Amended
and Restated Management Agreement dated February&nbsp;6, 2012, as amended by an Amendment to Amended and Restated Management Agreement dated April&nbsp;21, 2014 and a Second Amendment to Amended and Restated Management Agreement dated May&nbsp;10,
2016 (the &#147;Management Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Pung are parties to a Past PIIA, New PIIA and
Indemnification Agreement (as such terms are defined in the Letter Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;As of the Effective Date, Pung
holds options to purchase shares of common stock of the Company and holds restricted stock unit awards, performance share unit awards, and market share unit awards pursuant to written option agreements, restricted stock unit agreements, performance
share unit agreements, and market share unit agreements as applicable (the &#147;Equity Awards&#148;), as summarized in the attached Exhibit A to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">F.&nbsp;&nbsp;&nbsp;&nbsp;Pung has announced that he intends to retire from the Company effective December&nbsp;31, 2019 (the &#147;Retirement
Date&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">G.&nbsp;&nbsp;&nbsp;&nbsp;The parties have agreed that following the Effective Date Pung shall remain employed with the
Company and otherwise provide services to the Company under the terms of this Agreement in order to facilitate a smooth transition for the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the mutual promises and provisions contained in this Agreement, the parties, intending to be legally bound,
agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Retirement</U></B>. Pung hereby confirms his retirement and resignation as an officer and employee of
the Company and any of its subsidiaries and affiliates, effective as of the Retirement Date. Pung&#146;s employment with the Company will automatically terminate effective as of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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Retirement Date, unless earlier terminated in accordance with subparagraph 2(d) below. The period of Pung&#146;s employment hereunder is referred to in this Agreement as the &#147;Transition
Term&#148;. Pung shall not have any other employment or engage in any other business venture during the Transition Term. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Employment Terms During Transition</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(a) Scope of Engagement.</B> Subject to the terms and conditions of this Agreement, Pung agrees to remain in the employ of the Company, and
the Company agrees to continue Pung&#146;s employ