LETTER FROM KORN/FERRY TO PAUL REILLY DTD 06/06/01
Published on December 17, 2001
[KORN/FERRY INTERNATIONAL LETTERHEAD]
June 6, 2001
Mr. Paul C. Reilly
8301 Tallahassee Dr. N.E.
St. Petersburg, FL 33702
As a supplement to the terms and conditions contained in your Employment
Agreement with Korn/Ferry International, this letter adds the following benefits
to your employment package:
1. Korn/Ferry International (the "Company") will cover any difference between
the amount you originally paid for your current primary residence plus
verified capital improvements made since purchase (i.e., your current tax
basis) and the gross selling price received upon sale of this residence
provided such sale is in connection with your relocation to the area of the
Company's corporate headquarters. Any reimbursement provided by the Company
will be adjusted to reflect the effect of any Federal and state taxes due
on the reimbursement.
2. The Company will cover, up to $750,000 gross, any forfeited bonus from your
current employer, upon reasonable confirmation of the amount of such
3. The Company will cover reasonable legal costs associated with the review of
your Employment Agreement by your personal legal counsel.
4. The Company will reimburse you, through the earlier of your permanent
relocation to corporate headquarters or September 30, 2002, for the
reasonable costs associated with your personal travel between Los Angeles
and your primary residence that are not reimbursable as a client or normal
Paul C. Reilly
June 6, 2001
Please call me with any questions regarding these supplemental terms.
/s/ Gary C. Hourihan
Gary C. Hourihan
Executive Vice President
cc: Richard Ferry