MOHAWK INDUSTRIES, INC. (NYSE:MHK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the previous announcement of Frank H. Boykin’s plan to retire as Chief Financial Officer of Mohawk Industries, Inc. (the “Company”), the Company entered into a transition agreement with Mr.Boykin on January 14, 2019. The transition agreement provides that, upon the appointment of his replacement as Chief Financial Officer and for a period of twelve (12) months thereafter, Mr. Boykin will remain an employee of the Company, providing transition assistance to the new Chief Financial Officer and related support to the financial operations of the Company. During the term of the transition agreement, Mr. Boykin will receive compensation equal to 50% of his current base salary and target annual incentive, together with standard employee benefits.
The foregoing summary of the transition agreement is qualified in its entirety by reference to the full text of the agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form8-Kand incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
MOHAWK INDUSTRIES INC Exhibit
EX-10 2 boykinconsultingagreemen….
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About MOHAWK INDUSTRIES, INC. (NYSE:MHK)
Mohawk Industries, Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products. Its trademarks include American Olean, Bigelow, Lees, Quick-Step and Unilin.