NEWELL BRANDS INC. (NYSE:NWL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Newell Brands Inc. (the “Company”) announced that Fiona C. Laird, the Company’s Executive Vice President and Chief Human Resources and Communications Officer, will be departing the Company effective September1, 2017 (the “Separation Date”). Until the Separation Date, Ms.Laird will assist with the transition of her work duties to her successor. In connection with her departure, on August 24, 2017, the Company and Ms.Laird entered into a separation agreement and general release (the “Separation Agreement”) to which she agreed to a customary release and restrictive covenants. The Separation Agreement entitles Ms.Laird, among other things, to (1)a lump sum severance payment of $700,000 payable no later than 60 days after the Separation Date; (2)her pro-rated annual cash incentive award under the 2017 Management Bonus Plan, payable at actual corporate performance levels and at the same time bonuses are paid to active employees; (3)continued vesting of annual, performance-based restricted stock unit grants that would have otherwise vested within two years after the Separation Date, which will vest on their original vesting date (subject to satisfaction of any applicable performance conditions); (4)continued vesting of her new-hire, performance-based restricted stock unit grants that would have otherwise vested after the Separation Date, which will vest on their original vesting date; and (5)certain other benefits, including continued medical coverage for 52 weeks and executive outplacement services. The foregoing summary is qualified in its entirety by reference to the Separation Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Bradford R. Turner, currently Chief Legal Officer and Corporate Secretary, will assume broadened responsibility as Chief Legal and Administrative Officer and Corporate Secretary of the Company, retaining his current responsibility for legal and governance matters, while adding responsibility for Human Resources and Corporate Security.
| Item 5.02 | Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit No. |
Exhibit Description |
| 10.1 | Separation Agreement and General Release, dated as of August 24, 2017, by and between Newell Brands Inc. and Fiona C. Laird. |
NEWELL BRANDS INC ExhibitEX-10.1 2 d432644dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 August 24,…To view the full exhibit click here
About NEWELL BRANDS INC. (NYSE:NWL)
Newell Brands Inc, formerly Newell Rubbermaid Inc., is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle. The Company focuses on consumer, investment in brands.