Severance Agreement Between FactSet Research Systems Inc. and Peter G. Walsh Dated September 20, 1999
This agreement between FactSet Research Systems Inc. and Peter G. Walsh outlines the severance terms if Mr. Walsh's employment is involuntarily terminated, except for specific causes such as willful misconduct, felony conviction, or breach of fiduciary duty. If terminated without cause, he will receive a payment equal to his annual compensation and continued benefits for twelve months. If a change in control occurs and he is terminated without cause, he will receive two years' compensation and benefits for twenty-four months.
EXHIBIT 10.2
Severance Agreement
By and Between
FactSet Research Systems Inc.
And
Peter G. Walsh
If FactSet Research Systems Inc. (“FactSet” or the “Company”) terminates your employment against your will for any reason other than your willful failure to substantially perform your duties, your being adjudged guilty of a felony by a court of last resort from which there is no appeal, or your material breach of your fiduciary duties to FactSet, FactSet will make a liquidating payment equal to your annual compensation over the past twelve months. In addition, FactSet will continue to provide your standard employee benefits for twelve months from the date of termination.
If any change in control takes place during your employment with FactSet, and your employment is involuntary terminated (other than for cause as described above), FactSet will make a liquidating payment equal to two times your annual compensation over the past twelve months. In additional, FactSet will continue to provide your standard employee benefits for twenty-four months from the date of termination.
| Agreed: | ||||
| /s/ HOWARD E. WILLIE | September 20, 1999 | |||
| Howard E. Willie | Date | |||
| /s/ PETER G. WALSH | September 20, 1999 | |||
| Peter G. Walsh | Date | |||
