Exhibit 10.1 Letter Agreement dated September 1, 1999
between the Company and Xxxxxx X. Xxxxxx
XXXXXX X. XXXXXX
00 Xxxx Xxxx Xxxxxx
Xxxxxxx, XX 00000
September 1, 1999
Xx. Xxxx Xxxxxxx
President
Pegasystems, Inc.
000 Xxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Dear Xxxx:
This letter agreement (the "Agreement") effective as of August 1, 1999 will
confirm and summarize the terms and conditions of the indemnification of
Xxxxxx X. Xxxxxx of Needham, Massachusetts (the "Director") by Pegasystems,
Inc. a Massachusetts corporation (the "Company") that we have agreed upon
with respect to my role as a member of the Board of Directors. Specifically,
we have agreed as follows:
The Company hereby agrees to indemnify, hold harmless, defend and reimburse
Director to the full extent lawful from and against, and the Director shall
have no liability to the Company or any of its owners, creditors, security
holders or any other party, for any and all losses, claims, damages,
liabilities and expenses incurred by the Director, including without
limitation any legal fees and expenses as incurred, relating to or arising
out of his role as a Board member (or any other services rendered to the
Company) or out of any action or inaction by the Company or any person or
entity acting by, through or under it, including any legal proceeding in
which the Director may be required to or agree to participate in but in which
the Director is not a party. Director shall be entitled to retain legal
counsel of his own choosing. This indemnification provision shall survive
termination indefinitely.
Sincerely yours,
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
AGREED TO AND ACCEPTED BY:
PEGASYSTEMS, INC.
By: /s/ Xxxx Xxxxxxx
------------------------
Xxxx Xxxxxxx
President
