Compensation Arrangement



 Exhibit 10.1 
 Michael T. Cowhig 
 Chairman of the Board 

June 9, 2011 
 Mr. Michael B.
Polk 
 Dear Mike, 

On behalf of the Board of Directors of Newell Rubbermaid Inc. (the “Company”), I am pleased to offer you the position of
President and Chief Executive Officer of our Company, reporting to the Board of Directors. You will continue as a member of the Board. Your employment will commence on July 18, 2011 or such other date as the Company and you may agree
(“ECD”). Below are the key terms of your employment with us: 
  

	 	1.	 Base Salary: Your annual base salary will be $1,200,000 per year, payable in equal, semi-monthly installments. You will be eligible for a
merit increase review at the same time as the Company’s other executive leadership team members (typically April), though you will not be eligible for a merit increase until April 2014. 



 

	 	2.	 Short Term Incentive Plan: You will participate in the Company’s Management Cash Bonus Plan. Your target payout for your cash bonus is
135% of your base salary, with a maximum of 270% depending on Company performance. In view of your anticipated forfeitures with your current employer, your bonus for 2011 will be based upon a full year of base salary (not prorated) in an amount not
less than at 90% of target. 


  

	 	3.	 Monthly Stipend: You will receive a monthly stipend of $3,000 in lieu of all other perquisites (such as tax planning; automobile; and so
forth). 


  

	 	4.	 Executive Physical: You will be entitled to, and expected to participate in, an annual executive comprehensive physical, the costs of which
will be paid by the Company. 


  

	 	5.	 Long Term Incentive Plan: Starting in 2012, you will be eligible to participate in the Company’s Long Term Incentive Program
(“LTIP”). Under the LTIP, you will be eligible to receive a combination of performance-based restricted stock units (“RSUs”), time-based RSUs, and options which are valued at the time of issuance between 385% and 575% of your
base salary, with a target of 480%. The mix of awards, range and target amounts may be adjusted from time to time upon the recommendation of the Board’s Organizational Development & Compensation Committee; provided, however, your 2012
LTIP award will be valued at not less than target. Based on past practices, we expect the award value to be split as follows: thirty percent time-based RSUs, forty percent performance-based RSUs, and thirty percent stock options. These awards vest
after three years, and obviously provide tremendous opportunity to you as the Company’s stock price increases. 


  

	 	6.	 Company Contributions to Deferred Compensation Plan (a/k/a Cash SERP): You will be immediately eligible to participate in the Company’s
2008 Deferred Compensation Plan (“Plan”). Under the Cash SERP component of the Plan, for each full or partial year during your employment, the Company will contribute five percent of your current year’s annual compensation in excess
of $245,000 (or the then current IRS 










	 	 
limitation) and ten percent of your current year’s annual compensation into a Plan account, or such other amount (or no amount) as the Board may from time to time determine for senior
executives, in accordance with the terms of the Plan. For this purpose, your “annual compensation” will be the sum of your salary paid and your annual bonus (if any) under the Management Cash Bonus Plan (or successor annual incentive plan)
paid during the reference calendar year. Thus, your 2011 Cash SERP contributions (which are made in 2012) will be based on your salary paid during 2011. These contributions will begin to partially vest starting with your sixth year of employment
with the Company. However, if you are employed by the Company when you turn 60 years of age, you will be considered fully vested in all of the Company’s contributions to the Plan (including interest or other net earnings thereon).



  

	 	7.	 Company Retirement Savings Program: You are eligible to participate in the Company’s 401(k) plan consistent with other Company
employees, under which the Company will match your contributions dollar-for dollar for the first three percent of your base Salary, and match 50% of your contributions on the next two percent of your base salary. Your contributions are limited by
IRS regulations. In addition, the Company will contribute annually four percent of the first $245,000 (or the then current IRS limitation) of your base salary into the 401(k) Plan. All Company contributions to the 401(k) Plan are subject to a
three-year cliff vesting schedule. 


  

	 	8.	 Signing Bonus: As a one-time signing bonus, you will be paid $1,100,000 within fifteen days after your ECD, though you are obligated to
reimburse the Company within ten days in the event you are involuntarily terminated for Good Cause or a violation of the Company’s Code of Conduct and Ethics, or you resign for other than Good Reason prior to the first anniversary of your ECD
(and for all purposes under this letter agreement, “Good Cause” and “Good Reason” shall have the meaning defined in your Employment Security Agreement provided in Section 14, below (“ESA”)). On your ECD, you will
also be awarded $1,100,000 worth of stock options under the Company’s 2010 Stock Plan based upon the Company’s Black-Scholes valuation method, which award will be subject to a three-year cliff vest. These options will have a strike price
equal to the closing price of the Company’s stock on your ECD and have a 10 year term and such other terms as have been agreed and reflected in a form of stock option agreement provided to you. 



 

	 	9.	 Employment Transition Award: In light of the long-term compensation you will forfeit at your current employer, the Company will award you
performance-based RSUs on your ECD under the Company’s 2010 Stock Plan in the tentative number of 692,042 RSUs. These awards, respectively, shall vest on the later of the second anniversary of your ECD and the date of satisfaction of the
following performance criteria: 


  

	 	•	 	 Fifty percent of these performance-based RSUs will vest when the Company’s average closing stock price for any twenty continuous trading day
period after the ECD exceeds by ten percent the average closing stock price for the ten continuous trading day period immediately before the date on which the Company publicly discloses that you have accepted the offer herein to become its President
and CEO (the “Announcement Date”); 



  
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	 	•	 	 Twenty-five percent of these performance-based RSUs will vest when the Company’s average closing stock price for any twenty continuous trading
day period after the ECD exceeds by twenty percent the average closing stock price for the ten continuous trading day period immediately before the Announcement Date; 



 

	 	•	 	 Twenty-five percent of these performance-based RSUs will vest when the Company’s average closing stock price for any twenty continuous trading
day period after the ECD exceeds by twenty-five percent the average closing stock price for the ten continuous trading day period immediately before the Announcement Date. 



These awards will vest in the event of your death or disability and will expire to the extent that they fail to vest on or
prior to the seventh anniversary of their grant. 
 On your ECD, you will also be awarded time-based RSUs under
the Company’s 2010 Stock Plan in the tentative number of 346,021 RSUs, fifty percent of which will vest on December 31, 2011, twenty-five percent of which will vest on the first anniversary of your ECD, and the remaining twenty-five
percent of which will vest on the second anniversary of your ECD. 
 The face values of the tentative awards of
the referenced RSUs above in this Section 9 are based upon a closing price of Company stock of $14.45 per share. The number of RSUs actually to be granted to you on your ECD under this Section 9 will be increased or decreased to ensure the
monetary face values of the awards (using the average closing stock price for the ten continuous trading day period immediately before the Announcement Date) are equivalent to the monetary face values set forth above. 

These awards will incorporate the above terms and have such other terms as have been agreed and reflected in a form of RSU
agreement provided to you. 
  

	 	10.	 Executive Relocation: You will be eligible to participate in the Company’s executive relocation program once you are ready to relocate
your family to Atlanta. This will include payment of your closing costs on your home in Atlanta, physical transportation of your possessions to Atlanta, and the costs (realtor and closing costs) associated with the sale of your home in New Jersey.



  

	 	11.	 Personal Use of Corporate Aircraft: You will be entitled to personal use of the Company’s aircraft, though such amount may not exceed
$165,000 in any year (based on the Company’s average hourly cost of operating the aircraft). Any use in excess of $165,000 in a year must be reimbursed to the Company. 



 

	 	12.	 Medical/Dental: You (and your covered dependents) will participate in the Company’s medical and dental coverage consistent with other
Company employees. In the event of your retirement as Chief Executive Officer on or after age 55, and to the extent permitted by law, you and your covered dependents will be eligible to continue such medical and dental coverage until the later of
the dates that your spouse and you become eligible for Medicare benefits, provided that you will be required to pay the same premium rates for such coverage as applies to former employees entitled to COBRA benefits during such period.




  
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	 	13.	 Deferred Compensation: The Company maintains a deferred compensation plan, in which you are eligible to participate if you so choose.



  

	 	14.	 Employment Security Agreement: On your ECD, the Company and you will enter into an ESA in the form attached hereto as Appendix A.



  

	 	15.	 Salary and Medical/Dental Benefits Continuation; Other Benefits: In lieu of all other benefits, prior to any Change in Control, in the event
you are involuntarily terminated (except for Good Cause or a violation of the Company’s Code of Conduct and Ethics) or you resign for Good Reason, upon execution of a mutually agreeable release (which shall contain both non-compete and
non-solicitation provisions) within sixty days of your last day of employment with the Company and which shall not be revoked, you shall be entitled to: (i) salary continuation through the second anniversary of your last date of employment with
the Company at such intervals as salaries are paid by the Company to its executive employees; (ii) medical and dental benefits continuation for you and your covered dependents for a period of twenty-four months at the same premium amount
charged to former employees entitled to COBRA benefits during such period (provided, such medical and dental benefits shall cease on the date you become eligible for coverage under any medical plan provided by any subsequent employer (or consulting
arrangement)); (iii) a Management Cash Bonus Plan payment pro-rated based upon the number of days employed in the year you leave and otherwise payable on the same terms and at the same time as payments to other participants in the Management
Cash Bonus Plan; (iv) a lump sum cash payment payable within thirty days after the employment termination date in an amount equal to the difference (if any) between the aggregate premium for twenty-four months of medical and dental benefits
then charged to active employees for comparable coverage to Executive’s coverage on the date of termination and such premium charged to former employees on such date for comparable benefits under COBRA; (v) vesting of the balance of your
Cash SERP account (including interest accrued thereon); (vi) vesting of the time-based RSUs referenced in Section 9; (vii) retain the performance-based RSUs referenced in Section 9 that have not attained the performance criteria,
and for which you will be deemed vested under the two-year time-vesting period, and such will remain outstanding subject to the satisfaction of the performance criteria until the seven-year expiration date above; and (viii) vesting of the stock
option award referenced in Section 8 above and which stock option will be exercisable for one year after the last day of your employment (but not beyond the ten year term). Notwithstanding the foregoing, salary continuation shall cease on
March 15 of the calendar year immediately after the calendar year of your last day of employment, and on that date you shall be paid a lump sum amount equal to the remaining salary continuation payments referenced in subsection (i) above.



  

	 	16.	 Section 409A: Anything to the contrary in this letter agreement notwithstanding, all benefits or payments payable to you that is
“nonqualified deferred compensation” under Section 409A are intended to comply with Section 409A, and the Company and you agree to mutually modify this letter agreement to the minimum extent as may become necessary for such
compliance. A termination of your employment under this letter 



  
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agreement will not be deemed to have occurred, to the extent Section 409A applies, unless such termination is a “separation from service” within the meaning of Section 409A,
and to the extent required by Section 409A, if you are a “specified employee,” payments that are nonqualified deferred compensation due upon your separation from service will be deferred for six months (or, if earlier, until the date
of your death). Subject to the immediately preceding sentence, to the extent any amount or benefit payable to you under Section 15 or otherwise is nonqualified deferred compensation subject to Section 409A and such amount or benefit is
conditioned upon your providing a release of claims, and if pursuant to that provision payment could be made to you in either of two taxable years depending on the date of such release of claims and expiration of the applicable revocation period,
you shall be paid on the later of January 15 of such later taxable year or five days after the date such release of claims becomes irrevocable. 


 Please note that, except as provided above, all of your equity awards are subject to the terms and conditions set forth in the Company’s award agreements applicable to CEO grants. In addition, you
shall be entitled to retain your May 2011 non-employee Director’s RSU grant, which shall vest one year from the grant date. 
 All of us at the Company are extremely pleased to present this opportunity to you. We are confident that you will provide the leadership necessary to continue our Company’s success and to further
increase shareholder value. 
 This offer will remain irrevocable and open for your acceptance until 5:00 p.m. EDST,
June 23, 2011. Please sign and date where indicated below to indicate your acknowledgment and acceptance of the terms of this letter agreement and return a copy to me at your earliest convenience. 

Sincerely, 
 Michael T. Cowhig 

Chairman of the Board 
 cc: Jim Sweet

  

					
	Agreed and Acknowledged:    	 		 	
			
	 /s/    Michael B. Polk
	 		 	
	 Michael B. Polk
	 		 	
			
	 Date: June 23, 2011
	 		 	


  
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 Appendix A 
 Employment Security Agreement 







 EMPLOYMENT SECURITY AGREEMENT 

This Employment Security Agreement (“Agreement”) is entered into as of this      day of
            , 2011 by and between Newell Rubbermaid Inc., a Delaware corporation (“Employer”), and
                     (“Executive”). 
 WITNESSETH: 
 WHEREAS, the Board of Directors of the Employer has
determined that it is in the best interests of the Employer and its stockholders to employ the Executive as the Company’s President and Chief Executive Officer; 
 WHEREAS, in connection herewith Employer and Executive entered into an employment letter agreement dated June __, 2011 (“Employment Agreement”); 

WHEREAS, Employer desires to provide certain security to Executive in connection with Executive’s employment with Employer; and

 WHEREAS, Executive and Employer desire to enter into this Agreement pertaining to the terms of the security Employer is
providing to Executive with respect to his employment. 
 NOW, THEREFORE, in consideration of the mutual covenants and promises
contained herein, and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows: 
 Definitions. For purposes of this Agreement. 
 “Affiliate” shall
have the meaning set forth in Rule 12b-2 under the Securities Exchange Act of 1934. 
 “Base Salary” shall mean
Executive’s annual base salary at the rate in effect on the date of a Change in Control, or if greater, the rate in effect immediately prior to Executive’s termination of employment with Employer. 

“Bonus” shall mean an amount determined by multiplying Executive’s Base Salary by the payout percentage that would apply
to Executive based on (i) the job position held by Executive on the date of a Change in Control or the date of Executive’s termination of employment with Employer (whichever position is higher at the time) and (ii) attainment of the
targeted performance goals at a 100% level, as determined under the Management Cash Bonus Plan of Employer, or any prior or successor plan or arrangement covering Executive (such amount to be determined regardless of whether Executive would
otherwise be eligible for a Bonus under the terms of any such plan or arrangement or the extent to which the performance goals are actually met). 

  
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 “Code” means the Internal Revenue Code of 1986, as amended. 

“Change in Control” shall mean the occurrence of any of the following events: 

any individual, partnership, firm, corporation, association, trust, unincorporated organization or other entity (other than Employer or
a trustee or other fiduciary holding securities under an employee benefit plan of Employer), or any syndicate or group deemed to be a person under Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), is or becomes the “beneficial owner” (as defined in Rule 13d-3 of the General Rules and Regulations under the Exchange Act), directly or indirectly, of securities of Employer representing 25% or more of the combined voting
power of Employer’s then outstanding securities entitled to vote generally in the election of directors; 
 Employer is
party to a merger, consolidation, reorganization or other similar transaction with another corporation or other legal person unless, following such transaction, more than 50% of the combined voting power of the outstanding securities of the
surviving, resulting or acquiring corporation or person or its parent entity entitled to vote generally in the election of directors (or persons performing similar functions) is then beneficially owned, directly or indirectly, by all or
substantially all of the individuals and entities who were the beneficial owners of Employer’s outstanding securities entitled to vote generally in the election of directors immediately prior to such transaction, in substantially the same
proportions as their ownership, immediately prior to such transaction, of Employer’s outstanding securities entitled to vote generally in the election of directors; 
 Employer sells all or substantially all of its business and/or assets to another corporation or other legal person unless, following such sale, more than 50% of the combined voting power of the
outstanding securities of the acquiring corporation or person or its parent entity entitled to vote generally in the election of directors (or persons performing similar functions) is then beneficially owned, directly or indirectly, by all or
substantially all of the individuals and entities who were the beneficial owners of Employer’s outstanding securities entitled to vote generally in the election of directors immediately prior to such sale, in substantially the same proportions
as their ownership, immediately prior to such sale, of Employer’s outstanding securities entitled to vote generally in the election of directors; or 
 during any period of two consecutive years or less, individuals who at the beginning of such period constituted the Board of Directors of Employer (and any new Directors, whose appointment or election by
the Board of Directors or nomination for election by Employer’s stockholders was approved by a vote of at least 

  
 A-2









 
two-thirds of the Directors then still in office who either were Directors at the beginning of the period or whose appointment, election or nomination for election was so approved) cease for any
reason to constitute a majority of the Board of Directors. 
 “Good Cause” shall exist if, and only if: 

Executive willfully engages in misconduct in the performance of his duties that causes material harm to Employer; or 

Executive is convicted of a criminal violation involving fraud or dishonesty. 
 Without limiting the generality of the foregoing, the following shall not constitute Good Cause: the failure by Executive and/or Employer to attain financial or other business objectives; any personal or
policy disagreement between Executive and Employer or any member of the Board of Directors of Employer; or any action taken by Executive in connection with his duties if Executive acted in good faith and in a manner he reasonably believed to be in,
and not opposed to, the best interest of Employer and had no reasonable cause to believe his conduct was improper. Notwithstanding anything herein to the contrary, in the event Employer terminates the employment of Executive for Good Cause
hereunder, Employer shall give Executive at least 30 days prior written notice specifying in detail the reason or reasons for Executive’s termination. 
 “Good Reason” shall exist if, without the Executive’s written consent: 
 there is a material change in the nature or the scope of Executive’s authority or duties; 
 Executive is required to report (A) to an officer with a materially lesser position or title than the officer to whom Executive reported on the date of the Change in Control, if Executive is not the
Chief Executive Officer of Employer, or (B) to other than the entire Board, if Executive is the Chief Executive Officer of Employer; 
 there is a material reduction in Executive’s rate of base salary; 
 Employer
changes by 50 miles or more the principal location in which Executive is required to perform services; 
 Employer terminates
or materially amends, or terminates or materially restricts Executive’s participation in, any Incentive Plan or Retirement Plan so that, when considered in the aggregate with any substitute Plan or Plans, the Incentive Plans and Retirement
Plans in which he is participating materially fail to provide him with a level of benefits provided in the aggregate by such Incentive Plans or Retirement Plans prior to such termination or amendment, but expressly excluding any reduction in
benefits that is both applicable equally to all senior executives of Employer who 

  
 A-3









 
participate in the affected Incentive Plan(s) or Retirement Plan(s) and either (x) is made in connection with an extraordinary decline in Employer’s earnings, share price or public
image, or (y) is undertaken in order to make such Incentive Plan(s) or Retirement Plan(s) consistent with the executive compensation programs of those companies with whom Employer competes for attracting/retaining executive talent; or

 Employer materially breaches the provisions of this Agreement. 
 A termination of Executive’s employment by Executive shall not be deemed to be for Good Reason unless (1) Executive gives notice to Employer of the existence of the event or condition
constituting Good Reason within thirty (30) days after such event or condition initially occurs or exists, (2) the Employer fails to cure such event or condition within thirty (30) days after receiving such notice, and
(3) Executive’s “separation from service” within the meaning of Section 409A of the Code occurs not later than ninety (90) days after such event or condition initially occurs or exists (or, if earlier, the last day of
the Term). 
 “Incentive Plan” shall mean any incentive, bonus, equity-based or similar plan or arrangement currently
or hereafter made available by Employer or an Affiliate in which Executive is eligible to participate. 
 “Retirement
Plan” shall mean any qualified or supplemental defined contribution retirement plan, currently or hereinafter made available by Employer or an Affiliate in which Executive is eligible to participate. 

“Severance Period” shall mean the period beginning on the date the Executive’s employment with Employer terminates under
circumstances described in Section 3 and ending on the date 24 months thereafter. 
 “Welfare Plan” shall
mean any plan or arrangement providing health, prescription drug, vision, dental, disability, survivor income or life insurance benefits that is currently or hereafter made available by Employer or an Affiliate in which Executive is eligible to
participate. 
 Term. The term of this Agreement shall be the period beginning on the date hereof and terminating on the
date 24 months after the date of Executive’s termination of employment (the “Term”). 
 Termination of
Employment. If a Change in Control occurs, Executive shall be entitled to the benefits described in Section 4 if at any time during the 24-month period following the Change in Control (i) the employment of Executive with Employer is
terminated by Employer for any reason other than Good Cause, or (ii) Executive terminates his employment with Employer for Good Reason. 

  
 A-4









 Benefits Upon Termination of Employment. Upon termination of Executive’s
employment with Employer under circumstances described in Section 3 above: 
 Employer shall pay Executive, in a lump sum
as soon as practicable following Executive’s termination of employment, but in no event later than 30 days following such termination, the sum of: 
 three (3) times the sum of the Executive’s Base Salary and the Executive’s Bonus; plus 
 the Executive’s Bonus multiplied by a fraction, the numerator of which is the number of days in the fiscal year in which the date of termination occurs through the date of termination and the
denominator of which is 365. 
 Executive shall be entitled to receive any and all benefits accrued under any other Incentive
Plans to the date of termination of employment, the amount, entitlement to, form and time of payment of such benefits to be determined by the terms of such Incentive Plans. For purposes of calculating Executive’s benefits under the Incentive
Plans, Executive’s employment shall be deemed to have terminated by reason of retirement under circumstances that have the most favorable result for Executive thereunder. 
 Executive’s benefits accrued or credited through the date of termination of employment under the Newell Rubbermaid Inc. 2008 Deferred Compensation Plan, or its successor (the “2008 Deferred
Compensation Plan”) that are not vested as of the date of termination of employment shall be fully vested and paid in accordance with the terms of the applicable plan (subject to any forfeiture provision under Section 4.3(d) of the 2008
Deferred Compensation Plan). Employer shall also pay to the Executive, in a lump sum as soon as practicable following Executive’s termination of employment, but in no event later than 30 days following such termination, an amount equal to
the Executive’s benefits accrued or credited through the date of termination of employment under the Employer’s qualified defined contribution plans that are not vested as of the date of termination of employment. 

If upon the date of termination of Executive’s employment, Executive holds any awards with respect to securities of Employer,
(i) all such awards that are stock options shall immediately become fully vested and exercisable upon such date and shall be exercisable thereafter until the earlier of the third anniversary of Executive’s termination of employment or the
expiration of the term of the options; (ii) all time-based restrictions on any awards of restricted shares shall terminate or lapse and all time-based awards of restricted stock units shall become fully vested, nonforfeitable and immediately
payable to Executive; and (iii) all performance goals applicable to any performance-based awards shall be deemed satisfied at the “target” level and paid in accordance with the terms of the applicable award agreement; provided, all
performance criteria under Executive’s Employment Transition Award of restricted stock units granted pursuant to 

  
 A-5









 
the Employment Agreement shall be deemed fully satisfied upon the occurrence of a Change in Control (without regard for a condition of a contemporaneous or subsequent termination of
Executive’s employment). 
 During the Severance Period, Executive and his spouse and eligible dependents shall be eligible
for coverage under the Welfare Plans as follows: 
 (i) Coverage during the Severance Period under any Welfare Plan that is a
group health plan as defined in Title I, Part 6 of the Employee Retirement Income Security Act of 1974 (“COBRA”), shall be provided under COBRA, except that the maximum coverage period shall be extended from 18 to 24 months. If Executive,
his spouse, and/or his dependents elect COBRA coverage under any Welfare Plan, Employer shall pay a portion of the COBRA premiums. The portion to be paid by Employer shall equal the amount necessary so that the total of the COBRA premiums paid by
Executive, his spouse, and/or his dependents is equal to the premium that would have been paid by Executive for such coverage as an active employee immediately prior to the Change in Control. 

(ii) Executive and his spouse and eligible dependents shall continue to be covered by all other Welfare Plans in which he or his spouse
or eligible dependents were participating immediately prior to the date of his termination of employment, upon the terms and subject to the conditions of those plans as in effect immediately prior to the Change in Control or, if more favorable to
Executive, as in effect generally at any time thereafter with respect to other senior executives of Employer, as if he continued to be an active employee of Employer, and Employer shall continue to pay the costs of such coverage under such Welfare
Plans on the same basis as is applicable to active employees covered thereunder as in effect immediately prior to the Change in Control; provided that, if participation in any one or more of such Welfare Plans is not possible under the terms
thereof, Employer shall provide substantially identical benefits. 
 The coverage provided under this Section 4(e) shall cease if and when
Executive obtains employment with another employer during the Severance Period and becomes eligible for coverage under any substantially similar plans provided by his new employer. 

Executive shall be entitled to payment for any accrued but unused vacation in accordance with Employer’s policy in effect at
Executive’s termination of employment in a lump sum as soon as practicable following Executive’s termination of employment, but in no event later than 30 days following such termination. Executive shall not be entitled to receive any
payments or other compensation attributable to vacation he would have earned had his employment continued during the Severance Period, and Executive waives any right to receive such compensation. 

  
 A-6









 Employer shall, at Employer’s expense, provide Executive with six months of executive
outplacement services with a professional outplacement firm selected by Employer; provided that the outplacement services must be used by the Executive by no later than the second calendar year following the calendar year in which the termination of
employment occurred. 
 Executive shall not be entitled to reimbursement for fringe benefits during the Severance Period, such
as dues and expenses related to club memberships, automobile, cell phone, expenses for professional services and other similar perquisites. 
 Setoff. Employer’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action which Employer or any of its affiliated companies may have against the Executive or others. In no event shall the Executive be obligated to seek other employment or take any other action by way of
mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment, except as expressly provided in Section 4(e).

 Death. If Executive dies during the Severance Period, all amounts payable hereunder to Executive shall, to the extent
not paid, be paid to his surviving spouse or his designated beneficiary, or if none, then to his estate. Executive’s surviving spouse and eligible dependents shall continue to be covered under all applicable Welfare Plans during the remainder
of the Severance Period. On the death of the surviving spouse and eligible dependants, no further Welfare Plan coverage shall be provided (other than any coverage required pursuant to Title I, Part 6 of COBRA), and no further benefits shall be
paid, except for benefits accrued under any Incentive Plans and Retirement Plans to the date of Executive’s termination of employment, to the extent such benefits continue following Executive’s death pursuant to the term of such Plans.

 Certain Reductions in Payments. 
 (a) Anything in this Agreement to the contrary notwithstanding, in the event that an independent, nationally recognized accounting firm designated by Employer prior to a Change in Control (the
“Accounting Firm”) shall determine that receipt of all payments, benefits or distributions by Employer or its affiliates in the nature of compensation to or for Executive’s benefit, whether paid or payable pursuant to this Agreement
or otherwise (a “Payment”) would (after taking into account any value attributable to the non-competition covenant in Section 8), subject Executive to the excise tax under Section 4999 of the Code, the Accounting Firm shall
determine whether to reduce any of the Payments paid or payable pursuant to this Agreement (the “Agreement Payments”) to the Reduced Amount (as defined below in Section 7(d)). The Agreement Payments shall be reduced to the Reduced
Amount only if the Accounting Firm determines that Executive would have a greater Net After-Tax Receipt (as defined below in Section 7(d)) of aggregate Payments if Executive’s 

  
 A-7









 
Agreement Payments were reduced to the Reduced Amount. If instead the Accounting Firm determines that Executive would not have a greater Net After-Tax Receipt of aggregate Payments if
Executive’s Agreement Payments were reduced to the Reduced Amount, Executive shall receive all Agreement Payments to which Executive is entitled under this Agreement. Notwithstanding anything to the contrary, in no event shall the value (if
any) attributable to the non-competition covenant in Section 8 be taken into account for purposes of the Accounting Firm’s determination if it would reduce the Agreement Payments to be paid to Executive, it being understood that any such
valuation is intended solely to reduce the amounts that are considered “parachute payments” and therefore reduce any excise tax under Section 4999 of the Code. Any valuation of the non-competition covenant in Section 8 shall be
determined by the Accounting Firm (or, if the Accounting Firm is not able to make such determination, an independent third-party valuation specialist, selected by Employer), and Employer shall cooperate in good faith in connection with any such
valuation process. In no event shall this Section 7 or any other provision of this Agreement be construed to require the Employer to provide any tax gross-up for the Executive’s excise tax liability, if any, under Section 4999 of the
Code. 
 (b) If the Accounting Firm determines that aggregate Agreement Payments should be reduced to the Reduced Amount,
Employer shall promptly give Executive notice to that effect and a copy of the detailed calculation thereof. All determinations made by the Accounting Firm (or, with respect to the valuation of the non-competition covenant in Section 8, to the
extent applicable, the independent third-party valuation specialist) under this Section 7 shall be binding upon Employer and Executive and shall be made within thirty (30) days after a termination of Executive’s employment. The
reduction of the Agreement Payments to the Reduced Amount, if applicable, shall be made by reducing the Agreement Payments under the following sections (and no other Payments) in the following order: (i) Section 4(a),
(ii) Section 4(c), and (iii) Section 4(g). All fees and expenses of the Accounting Firm and the independent third-party valuation specialist (if any) shall be borne solely by Employer. 

(c) As a result of the uncertainty in the application of Sections 280G and 4999 of the Code at the time of the initial determination by
the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by Employer to or for the benefit of Executive pursuant to this Agreement which should not have been so paid or distributed (“Overpayment”) or
that additional amounts which will have not been paid or distributed by Employer to or for the benefit of Executive pursuant to this Agreement could have been so paid or distributed (“Underpayment”), in each case, consistent with the
calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either Employer or Executive which the Accounting Firm believes has a high
probability of success determines that an Overpayment has been made, Executive shall pay any such Overpayment to Employer together with at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no
amount shall be payable by Executive to Employer if and to the extent such payment would not either reduce the amount on which Executive is subject to tax under Sections 1 and 4999 of the Code or generate a refund of such taxes. In the event that
the Accounting Firm, based 

  
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upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by Employer to or for the benefit of Executive
(subject to Section 14) together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. 
 (d) For purposes hereof, the following terms have the meanings set forth below: 

(i) “Net After-Tax Receipt” shall mean the present value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and
280G(d)(4) of the Code) of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1, 3101 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under
Section 1 of the Code and under state and local laws which applied to Executive’s taxable income for the immediately preceding taxable year, or such other rate(s) as Executive certifies, in Executive’s sole discretion, as likely to
apply to him or her in the relevant tax year(s). 
 (ii) “Reduced Amount” shall mean the greatest amount of Agreement
Payments that can be paid that would not result in the imposition of the excise tax under Section 4999 of the Code if the Accounting Firm determines to reduce Agreement Payments pursuant to Section 7(a). 

Restrictive Covenants. During the Term of this Agreement, Executive shall not be associated, directly or indirectly, as an
employee, proprietor, stockholder, partner, agent, representative, officer, or otherwise, with the operation of any business that is competitive with any line of business of Employer or any Affiliate for which Executive has provided substantial
services without the prior written consent of Employer, which shall not unreasonably be withheld, except that Executive’s ownership (or that of his wife and children) of publicly-traded securities of any such business having a cost of not more
than $250,000 shall not be considered a violation of this Section 8. For purposes of the preceding sentence, Executive shall be considered as the “stockholder” of any equity securities owned by his spouse and all relatives and
children residing in Executive’s principal residence. 
 No Solicitation of Representatives and Employees. Executive
agrees that he shall not, during the Term of this Agreement, directly or indirectly, in his individual capacity or otherwise, induce, cause, persuade, or attempt to do any of the foregoing in order to cause, any representative, agent or employee of
Employer or any Affiliate to terminate such person’s employment relationship with Employer or any Affiliate, or to violate the terms of any agreement between said representative, agent or employee and Employer or any Affiliate. 

Confidentiality. Executive acknowledges that preservation of a continuing business relationship between Employer or its Affiliates
and their respective customers, representatives, and employees is of critical importance to the continued business success 

  
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of Employer and that it is the active policy of Employer and its Affiliates to guard as confidential the identity of its customers, trade secrets, pricing policies, business affairs,
representatives and employees. In view of the foregoing, Executive agrees that he shall not, during the Term of this Agreement and thereafter, without the prior written consent of Employer (which consent shall not be withheld unreasonably), disclose
to any person or entity any information concerning the business of, or any customer, representative, agent or employee of, Employer or its Affiliates which was obtained by Executive in the course of his employment by Employer. This Section 10
shall not be applicable if and to the extent Executive is required to testify in a legislative, judicial or regulatory proceeding pursuant to an order of Congress, any state or local legislature, a judge, or an administrative law judge. 

Executive Assignment. No interest of Executive or his spouse or any other beneficiary under this Agreement, or any right to
receive any payment or distribution hereunder, shall be subject in any manner to sale, transfer, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind, nor may such interest or right to receive a payment or
distribution be taken, voluntarily or involuntarily, for the satisfaction of the obligations or debts of, or other claims against, Executive or his spouse or other beneficiary, by operation of law or otherwise, other than pursuant to the terms of a
qualified domestic relations order to which Executive is a party. 
 Funding. 

Prior to a Change in Control, all rights of Executive and his spouse or other beneficiary under this Agreement shall at all times be
entirely unfunded and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. Neither Executive nor his spouse or other beneficiary shall have any interest in or rights
against any specific assets of Employer, and Executive and his spouse or other beneficiary shall have only the rights of a general unsecured creditor of Employer. 
 No later than five days following a Change in Control, Employer shall establish an irrevocable grantor trust, substantially in the form of the model trust agreement set forth in Internal Revenue Service
Revenue Procedure 96-24, or any subsequent Revenue Procedure, and shall make a contribution to the trust in an amount equal to the cash payments that would be made to Executive pursuant to Sections 4 and 7 upon a termination of his employment
under circumstances described in Section 3, such amount to be determined as if Executive’s termination of employment occurred on the date of the Change in Control. At six-month intervals commencing from the date of the Change in Control,
Employer shall recalculate the amount necessary to fully fund the above-described benefits and, if the amount exceeds the fair market value of the assets then held in the trust, Employer shall promptly deposit an amount equal to such excess.
Employer shall not terminate the trust until the Term of the Agreement has ended and all cash payments described in Sections 4 and 7 to which Executive is entitled have been made to Executive. Employer shall provide Executive with written
confirmation of the 

  
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establishment of the trust and the deposit of the required amount on his behalf, including a written accounting of the calculation of such amounts. Employer’s failure to establish a trust
and provide such written notice shall constitute a material breach of this Agreement. Notwithstanding the foregoing, this Section 12(b) shall be construed and applied in a manner so as to avoid the application of Section 409A(b)(3) of the
Code. 
 Legal Expenses. Employer shall pay as incurred (within 10 calendar days following Employer’s receipt of an
invoice from the Executive) Executive’s reasonable out-of-pocket expenses, including attorney’s fees, incurred by Executive at any time from the date of this Agreement through the Executive’s remaining lifetime or, if longer, through
the 20th anniversary of the date of the Change of Control, in connection with any action taken to enforce this Agreement or construe or determine the validity of this Agreement or otherwise in connection herewith, including any claim or legal action
or proceeding, whether brought by Executive or Employer or another party, and whether or not Executive is successful with respect to such action taken; provided, that the Executive shall have submitted an invoice for such fees and expenses at least
15 calendar days before the end of the calendar year next following the calendar year in which such fees and expenses were incurred. The amount of such legal fees and expenses that Employer is obligated to pay in any given calendar year shall not
affect the legal fees and expenses that Employer is obligated to pay in any other calendar year, and the Executive’s right to have Employer pay such legal fees and expenses may not be liquidated or exchanged for any other benefit.
Employer’s obligation to pay Executive’s eligible legal fees and expenses under this Section 13 shall not be conditioned upon Executive’s termination of employment. 

Section 409A. 
 The amounts payable pursuant to Section 4 above are intended to be separate payments that are exempt from Section 409A of the Code by reason of the “short-term deferral” exception or
the separation pay exceptions set forth in Section 1.409A-1(b)(9)(iii) or Section 1.409A-1(b)(9)(v) of the Treasury Regulations. To the extent that an amount payable under Section 4 does not comply with any of these exceptions, then
they shall be subject to the following rules: 
 Notwithstanding anything contained in this Agreement to the contrary, if the
Executive is a “specified employee,” as determined under Employer’s policy for determining specified employees on the date of his termination of employment, then to the extent required in order to comply with Section 409A of the
Code, all payments, benefits or reimbursements paid or provided under this Agreement that constitute a “deferral of compensation” within the meaning of Section 409A of the Code, that are provided as a result of a “separation from
service” within the meaning of Section 409A and that would otherwise be paid or provided during the first six months following the date of such termination of employment shall be accumulated through and paid or provided (together with
interest at the applicable federal rate under Section 7872(f)(2)(A) of the Code in effect on the date of termination of employment) within 30 days after the 

  
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first business day following the six month anniversary of such termination of employment (or, if the Executive dies during such six-month period, within 30 days after the Executive’s death).

 The benefits described in paragraphs (e) and (g) of Section 4 that are taxable benefits (and that are not
disability pay or death benefit plans within the meaning of Section 409A of the Code) are intended to comply, to the maximum extent possible, with the exception to Section 409A of the Code set forth in Section 1.409A-1(b)(9)(v) of the
Treasury Regulations. To the extent that any of those benefits either do not qualify for that exception, or are provided beyond the applicable time periods set forth in Section 1.409A-1(b)(9)(v) of the Treasury Regulations, then they shall be
subject to the following additional rules: (1) any reimbursement of eligible expenses shall be paid within 60 calendar days following Executive’s written request for reimbursement, or such later date set forth in Section 14(a)(i);
provided that the Executive provides written notice no later than 75 calendar days prior to the last day of the calendar year following the calendar year in which the expense was incurred so that Employer can make the reimbursement within the time
periods required by Section 409A of the Code; (2) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind
benefits to be provided, during any other calendar year; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

For purposes of this Agreement, the phrase “termination of employment” or words or phrases of similar import shall mean a
“separation from service” with the Employer within the meaning of Section 409A of the Code. In this regard, Employer and the Executive shall take all steps necessary (including with regard to any post-termination services by the
Executive) to ensure that (i) any termination of employment under this Agreement constitutes a “separation from service” within the meaning of Section 409A of the Code, and (ii) the date on which such separation from service
takes place shall be the date of the termination of employment for purposes of this Agreement. 
 It is intended that the
payments and benefits provided under this Agreement shall either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. This Agreement shall be construed, administered, and governed in a manner that
effects such intent, and the Employer shall not take any action that would be inconsistent with such intent. Without limiting the foregoing, the payments and benefits provided under this Agreement may not be deferred, accelerated, extended, paid out
or modified in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon Executive. Although the Employer shall use its best efforts to avoid the imposition of taxation, interest and penalties under
Section 409A of the Code, the tax treatment of the benefits provided under this Agreement is not warranted or guaranteed. Neither the Employer, its Affiliates nor their respective directors, officers, employees or advisers shall be held liable
for any taxes, interest, penalties or other monetary amounts owed by the Executive or other taxpayer as a result of the Agreement. 

  
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 Waiver. No waiver by any party at any time of any breach by any other party of, or
compliance with, any condition or provision of this Agreement to be performed by any other party shall be deemed a waiver of any other provisions or conditions at the same time or at any prior or subsequent time. 

Applicable Law. This Agreement shall be construed and interpreted pursuant to the laws of Delaware. 

Entire Agreement. This Agreement contains the entire Agreement between Employer and Executive and supersedes
any and all previous agreements, written or oral, between the parties relating to severance benefits in the event of a Change in Control. No amendment or modification of the terms of this Agreement shall be binding upon the parties hereto unless
reduced to writing and signed by Employer and Executive. 
 No Employment Contract. Nothing contained in this Agreement
shall be construed to be an employment contract between Executive and Employer. Executive is employed at will and Employer may terminate his employment at any time, with or without cause. 

Severability. In the event any provision of this Agreement is held illegal or invalid, the remaining provisions of this Agreement
shall not be affected thereby. 
 Employment with an Affiliate. If Executive is employed by Employer and an Affiliate, or
solely by an Affiliate, on the date of termination of employment of Executive under circumstances described in Section 3, then (a) employment or termination of employment as used in this Agreement shall mean employment or termination of
employment of Executive with Employer and such Affiliate, or with such Affiliate, as applicable, and related references to Employer shall also include Affiliate, as applicable, and (b) the obligations of Employer hereunder shall be satisfied by
Employer and/or such Affiliate as Employer, in its discretion, shall determine; provided that Employer shall remain liable for such obligations to the extent not satisfied by such Affiliate. 

Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs,
representatives and successors. Any reference in this Agreement to Employer shall be deemed a reference to any successor (whether direct or indirect, by purchase of stock or assets, merger or consolidation or otherwise) to all or substantially all
of the business and/or assets of Employer; provided that Executive’s employment by a successor Employer shall not be deemed a termination of Executive’s employment with Employer (unless otherwise required in order to comply with the
definition of “separation from service” under Section 409A of the Code). 

  
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 Non-exclusivity. Except with respect to agreements regarding severance payments
described in Section 17, the provisions of this Agreement shall not reduce any amounts otherwise payable, or in any way diminish Executive’s existing rights, or rights which would accrue solely as a result of the passage of time, under any
other employment agreement or other contract, plan or arrangement with Employer or an Affiliate. 
 Notice. Notices
required under this Agreement shall be in writing and sent by registered mail, return receipt requested, to the following addresses or to such other address as the party being notified may have previously furnished to the others by written notice.

  

							
		  	If to Employer:	    	Newell Rubbermaid Inc.	  	
		  		    	3 Glenlake Parkway	  	
		  		    	Atlanta, Georgia 30328	  	
		  		    	Attention: General Counsel	  	
				
		  	 If to Executive:
	    	  
	  	
		  		    	  
	  	
		  		    	  
	  	

 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original. 
 IN WITNESS WHEREOF, the parties have executed this Employment Security Agreement as of the day and year written
above. 
  

			
	NEWELL RUBBERMAID INC.
		
	 By:
	 	  

	 Title:
	 	  

	
	  

	 EXECUTIVE




  
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