THIS SEVERANCE AGREEMENT (this “Agreement” ) is made as of June 2, 2003, between
On Assignment, Inc., a Delaware corporation (the “Company” ), and Dr. Joseph A. Peterson (the
A. Pursuant to the terms of that certain offer letter dated June 18, 2001 (as same may have
been amended from time to time, the “Offer Letter” ) , the Executive has been employed by the Company, on
at-will basis, as Chief Executive Officer of the Company.
B. By the terms of the Offer Letter, the Company agreed to provide the Executive with
certain severance payments and benefits in the event the Executive was terminated without cause within 18
months of his start date, on December 18, 2002 (except in the case of a change of control, in which case the
Executive receives the severance payments and benefits as provided in the Company’s existing Change of
Control Severance Plan).
C. Since December 18, 2002, the Executive has not had a severance arrangement in place
other than in respect of a change of control transaction, and the Company and the Executive desire now, by the
execution of this Severance Agreement, to agree upon the terms and conditions of such a severance arrangement.
In consideration of the foregoing and the mutual covenants and promises contained herein, the
parties agree as follows:
1. Termination .
(a) Events of Termination . The Executive’s employment with the Company
shall cease upon the first of the following events to occur:
(i) The Executive’s death.
(ii) The Executive’s voluntary retirement at age 65 or older.
(iii) The Executive’s disability, which means his incapacity due to physical or