WestRock Company (NYSE:WRK) 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
On April 5, 2019, WestRock Company adopted the WestRock Company Executive Severance Plan (the “Plan”). The Plan is intended to provide severance pay to Eligible Executives (as defined in the Plan) whose employment with the Company is terminated under certain circumstances.
to the Plan, an Eligible Executive may be eligible to receive severance pay in the event that the Eligible Executive incurs an Eligible Termination (as defined in the Plan). The term Eligible Termination includes, among others, an involuntary termination by the Company for a reason other than Cause (as defined in the Plan). If an Eligible Executive incurs an Eligible Termination, and subject to certain conditions, including the Eligible Executive’s execution of a separation agreement and general release, the Plan provides that the Eligible Executive will be eligible to receive severance pay in an amount equal to 12 months of base salary and, in most instances, medical insurance coverage for a period of 12 months.
The above description is a summary of the terms of the Plan and is subject to and qualified in its entirety by the terms of the Plan, a copy of which is attached as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
WestRock Co Exhibit
EX-10.1 2 exh_101.htm EXHIBIT 10.1 Exhibit 10.1 WESTROCK company EXECUTIVE SEVERANCE PLAN 1.INTRODUCTION (a) Effective Date. This WestRock Company Executive Severance Plan (the “Plan”) is adopted as of April 5,…
To view the full exhibit click here
About WestRock Company (NYSE:WRK)
WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment consists of its containerboard mill and corrugated packaging operations, as well as its recycling operations. The Consumer Packaging segment consists of consumer mills, folding carton, beverage, merchandising displays, home, health and beauty dispensing, and partition operations. The Land and Development segment is engaged in the development and sale of real estate primarily in Charleston, South Carolina. As of September 30, 2016, the Company owned approximately 61,000 acres of development landholdings primarily in the Charleston, South Carolina region. The Corrugated Packaging segment produces containerboard and high-graphics preprinted linerboard.
