Summary
Fair Isaac Corporation (FICO) announced on November 26, 2008, that its Executive Vice President and Chief Financial Officer, Charles M. Osborne, will retire effective July 31, 2009. This transition plan includes a substantial consulting agreement post-retirement to ensure continuity and knowledge transfer. Mr. Osborne will remain an employee through July 31, 2009, at his current base salary. Following this period, he will serve as a consultant for six months, from August 1, 2009, to January 31, 2010, receiving a monthly fee equivalent to his current base salary. This arrangement aims to leverage Mr. Osborne's expertise during the crucial transition period and beyond, ensuring minimal disruption to the company's financial operations.
Key Highlights
- 1CFO Charles M. Osborne to retire effective July 31, 2009.
- 2Osborne will remain an employee until his retirement date at his current base salary.
- 3A Transition Agreement has been executed with Mr. Osborne.
- 4Osborne will provide consulting services for six months post-retirement (August 1, 2009 - January 31, 2010).
- 5Consulting fee will be equal to his current monthly base salary.
- 6Mr. Osborne's existing Management Agreement remains in effect.
Frequently Asked Questions
Mr. Osborne is scheduled to retire from his position as Executive Vice President and Chief Financial Officer effective July 31, 2009.
The company has entered into a Transition Agreement with Mr. Osborne. He will continue as an employee until his retirement date and will then serve as a consultant for six months post-retirement to provide ongoing support and knowledge transfer.
During his employment until July 31, 2009, he will receive his current base salary. From August 1, 2009, to January 31, 2010, he will receive a monthly consulting fee equivalent to his current monthly base salary.
No, the filing states that Mr. Osborne's Management Agreement with the Company is not affected by the Transition Agreement.