Relocation Support Package Agreement for Michael Pung, EVP-Chief Financial Officer, Fiscal 2012
This agreement outlines the relocation benefits provided to Michael Pung, who is moving from Minneapolis, MN to San Jose, CA to serve as EVP-Chief Financial Officer. FICO agrees to reimburse or directly pay for home sale and purchase costs, a $55,000 home sale incentive, house hunting trips, transportation and storage of household goods, travel and temporary living expenses, and a tax gross-up (excluding the incentive) for relocation-related income. The support package is subject to FICO's relocation policy, with an estimated total value of $200,000.
EXHIBIT 10.44
Relocation Support Package
Michael Pung
| Term | Description | |
| Role: | EVP-Chief Financial Officer | |
| Relocation: | From Minneapolis, MN to San Jose, CA | |
| Timing: | August — October, 2012 | |
| Support Package: | Reimbursement or direct payment for the following items in accordance with established FICO relocation policy: | |
| • Existing home sale closing costs and customary fees; • Home sale incentive of $55,000; • House hunting trips as needed; • Transportation of household goods; • Storage of household goods for up to 90 days; • Reasonable travel costs to new location; • Temporary living for up to 120 days at new location; • New home closing costs and customary fees; • Tax gross-up for income, excluding Home sale incentive, resulting from reimbursement or payment of relocation expenses).
Estimated total relocation expense, including gross-up: $200K | ||
