Sales Consulting Agreement Between Pegasystems and Joseph J. Friscia (January 2004)
Joseph J. Friscia, after resigning as Executive Vice President of Sales and Service, agreed to provide sales consulting services to Pegasystems through March 31, 2004. In return, Pegasystems will pay Mr. Friscia variable compensation based on the company's first quarter 2004 revenue, with a maximum payment of $100,000. This agreement was made orally at the time of his resignation.
Exhibit 10.25
DESCRIPTION OF AGREEMENT BETWEEN THE REGISTRANT AND JOSEPH FRISCIA
ENTERED INTO IN JANUARY 2004
Joseph J. Friscia resigned as Executive Vice President of Sales and Service in January 2004. At the time of his resignation, Mr. Friscia entered into an oral agreement with Pegasystems pursuant to which he agreed to provide sales consulting services to the company through March 31, 2004 in exchange for variable compensation capped at $100,000. The actual amount of Mr. Friscia’s compensation under the agreement is based on Pegasystems’ revenue in the first quarter of 2004.
