8-KMaterial AgreementsExhibits & Filings

FAIR ISAAC CORP 8-K Report, Material Agreement (Dec 30, 2004)

Filed December 30, 2004For Securities:FICO

Summary

Fair Isaac Corporation (FICO) has filed an 8-K report detailing the adoption of the Fair Isaac Supplemental Retirement and Savings Plan, as amended and restated effective December 1, 2004. This plan is designed to comply with new Section 409A of the Internal Revenue Code and is intended to provide certain highly compensated and management employees with a mechanism to defer a portion of their compensation on a pre-tax basis. The company also commits to making matching contributions under this supplemental plan to offset any losses participants may incur in the standard 401(k) plan due to these deferrals.

Key Highlights

  • 1Adoption of the Fair Isaac Supplemental Retirement and Savings Plan (the "Plan"), effective December 1, 2004.
  • 2The Plan is designed to comply with Section 409A of the Internal Revenue Code.
  • 3Eligible participants include certain highly compensated and management employees.
  • 4Employees can defer up to 25% of base pay/commissions and up to 75% of incentive pay/bonuses.
  • 5FICO will provide matching credits under the Plan to compensate for any lost 401(k) matching contributions.
  • 6Participants are 100% vested in the Plan.
  • 7Deferred amounts are credited with earnings based on benchmark funds and have payout options (lump sum or installments) upon retirement or disability, or a lump sum upon other separations.

Frequently Asked Questions

The primary purpose of the Plan is to allow certain highly compensated and management employees to defer a portion of their compensation on a pre-tax basis, while ensuring compliance with new Section 409A of the Internal Revenue Code.

Eligibility is limited to certain highly compensated and management employees of Fair Isaac Corporation.

The company intends to make matching credits under this Supplemental Plan to make up for any matching contributions that eligible participants might lose in the standard Fair Isaac 401(k) Plan as a result of deferring compensation under this new Plan.

Participants elect a payment form (lump sum or installments over up to 10 years) at the time they establish their account. Payouts occur after retirement or disability. If separation from service is not due to retirement or disability, the account is paid as a lump sum.