SEC Contract Filing

Filing Date: 2015-09-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10109252015.htm
<DESCRIPTION>SWEENEY AGREEMENT
<TEXT>
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<a name="s11e5bfb1ec3a489897bdbbecbea281ca"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EXHIBIT 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">AGREEMENT </font><font style="font-family:inherit;font-size:11pt;">dated September 25, 2015 between Brian Sweeney (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Sweeney</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and IHS Inc., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, Sweeney and the Company are parties to an employment letter agreement dated June 1, 2014 which superseded the terms of the offer of employment letter dated September 12, 2011 (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Employment Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, Sweeney desires to resign from the Company such that Sweeney&#8217;s employment with the Company will terminate November 27, 2015 (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Effective Termination Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the parties wish to enter into this Agreement in connection with the termination of Sweeney&#8217;s employment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, the parties agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.&#160;&#160;&#160;&#160;The parties agree that from September 14, 2015, through the Effective Termination Date (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Transition Period</font><font style="font-family:inherit;font-size:11pt;">&#8221;), Sweeney shall assist the Company as requested in connection with transition matters, and that during the Transition Period, Sweeney shall continue to receive all compensation and benefits payable to him under the Employment Agreement or any other compensation or benefit plan to which he was subject to or participated in prior to September 14, 2015; provided, however, that Sweeney shall provide services during the Transition Period at less than 20 percent of the average level of bona fide services he provided during the 36 months preceding the Transition Period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.&#160;&#160;&#160;&#160;As of the Effective Termination Date, Sweeney shall resign and cease to be an employee, officer or director of the Company or any affiliate of the Company. As used in this Agreement, the term &#8220;affiliate&#8221; shall mean any company that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under control with the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3.&#160;&#160;&#160;&#160;Sweeney and his eligible dependents will be eligible to continue to participate in the Company&#8217;s medical, dental and vision plans on the same terms as he and his dependents participated immediately prior the Effective Termination Date (or, if he is ineligible to continue to participate under the terms thereof, in substitute arrangements providing substantially comparable benefits) for a period of 18 months following the Effective Termination Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">4.&#160;&#160;&#160;&#160;Subject to paragraph 8 below, the Company shall pay Sweeney the sum of $530,000 on December 7, 2015 and the sum of $774,250 on March 15, 2016 (or upon Sweeney&#8217;s death, if prior to March 15, 2016) (such amounts, in the aggregate, reflecting 1.5 times base salary and &#8220;target&#8221; bonus).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">5.&#160;&#160;&#160;&#160;On the Effective Termination Date