Document:

RIMROCK GOLD CORP. 8-K

 

Exhibit 10.2

Employment Agreement

This Employment Agreement
(the "Agreement") is made and entered into as of February 2, 2015, by and between Richard R. Redfern (the "Executive")
and Rimrock Gold Corp., a Nevada Corporation (the "Company").

WHEREAS, the Company
desires to employ the Executive on the terms and conditions set forth herein; and

WHEREAS, the Executive
desires to be employed by the Company on such terms and conditions.

NOW, THEREFORE, in
consideration of the mutual covenants, promises and obligations set forth herein, the parties agree as follows:

1.      
Term. The Executive's employment hereunder shall be effective as of February 2, 2015
(the "Effective Date") and shall continue until the third anniversary thereof, unless terminated earlier pursuant
to Section 4 of this Agreement. Thereafter, the Employment Term shall automatically renew for successive periods of one (1) year,
unless either party shall have given to the other at least thirty (30) days’ prior written notice of their intention not
to renew the Executive’s employment prior to the end of the Employment Term or the then applicable renewal term, as the case
may be. The period during which the Executive is employed by the Company hereunder, including any renewal term, is hereinafter
referred to as the "Employment Term." 

2.      
Position and Duties.

2.1       
Position. During the Employment Term, the Executive shall serve as the VP Exploration
of the Company. In such position, the Executive shall have such duties, authority and responsibility as are consistent with the
Executive's position. The Executive shall also serve as a member of the board of directors of the Company (the "Board").

2.2       
Duties. During the Employment Term, the Executive shall devote such business time and
attention as necessary to the performance of the Executive's duties hereunder. 

3.      
Compensation.

3.1       
Base Salary. The Company shall pay the Executive an annual rate of base salary of $75,0000
in periodic installments in accordance with the Company's customary payroll practices, but no less frequently than monthly. The
Executive's base salary shall be reviewed and renegotiated annually by the Board. The Executive's annual base salary, as in effect
from time to time, is hereinafter referred to as "Base Salary". In addition, the Executive shall receive 7,000,000
shares of the Company upon execution of this Agreement.

 

    	

    	 

    

3.2       
Fringe Benefits and Perquisites. During the Employment Term, the Executive shall be
entitled to fringe benefits and perquisites consistent with the practices of the Company, and to the extent the Company provides
similar benefits or perquisites (or both) to similarly situated executives of the Company. 

3.3       
Employee Benefits. During the Employment Term, the Executive shall be entitled to participate
in all employee benefit plans, practices and programs maintained by the Company, as in effect from time to time (collectively,
"Employee Benefit Plans"), on a basis which is no less favorable than is provided to other similarly situated
executives of the Company, to the extent consistent with applicable law and the terms of the applicable Employee Benefit Plans.
The Company reserves the right to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject to the
terms of such Employee Benefit Plan and applicable law.

3.4       
Business Expenses. The Executive shall be entitled to reimbursement for all reasonable
and necessary out-of-pocket business, entertainment and travel expenses incurred by the Executive in connection with the performance
of the Executive's duties hereunder in accordance with the Company's expense reimbursement policies and procedures.

3.5       
Indemnification.  

(a)       
In the event that the Executive is made a party or threatened to be made a party to any action,
suit, or proceeding, whether civil, criminal, administrative or investigative (a "Proceeding"), other than any
Proceeding initiated by the Executive or the Company related to any contest or dispute between the Executive and the Company or
any of its affiliates with respect to this Agreement or the Executive's employment hereunder, by reason of the fact that the Executive
is or was a director or officer of the Company, or any affiliate of the Company, or is or was serving at the request of the Company
as a director, officer, member, employee or agent of another corporation or a partnership, joint venture, trust or other enterprise,
the Executive shall be indemnified and held harmless by the Company to the fullest extent applicable to any other officer or director
of the Company/to the maximum extent permitted under applicable law from and against any liabilities, costs, claims and expenses,
including all costs and expenses incurred in defense of any Proceeding (including attorneys' fees). 

4.      
Termination of Employment. The Employment Term and the Executive's employment hereunder
may be terminated by either the Company or the Executive at any time and for any reason; provided that, unless otherwise provided
herein, either party shall be required to give the other party at least thirty (30) days advance written notice of any termination
of the Executive's employment. Upon termination of the Executive's employment during the Employment Term, the Executive shall be
entitled to the compensation and benefits described in this Section 4 and shall have no further rights to any compensation
or any other benefits from the Company or any of its affiliates.

 

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4.1       
Expiration of the Term, for Cause or Without Good Reason.  

(a)       
The Executive's employment hereunder may be terminated upon the Executive’s failure
to renew the Agreement in accordance with Section  1, by the Company for Cause
or by the Executive without Good Reason. If the Executive's employment is terminated upon the Executive’s failure to renew
the Agreement, by the Company for Cause or by the Executive without Good Reason, the Executive shall be entitled to receive:

		(i)	any accrued but unpaid Base Salary; and 

		(ii)	reimbursement for unreimbursed business expenses properly incurred
by the Executive, which shall be subject to and paid in accordance with the Company's expense reimbursement policy; and

		(iii)	such employee benefits (including equity compensation), if any, as
to which the Executive may be entitled under the Company's employee benefit plans as of the Termination Date; provided that, in
no event shall the Executive be entitled to any payments in the nature of severance or termination payments except as specifically
provided herein.

Items 4.1(a)(i) through 4.1(a)(iii)
are referred to herein collectively as the "Accrued Amounts".

(b)       
For purposes of this Agreement, "Cause" shall mean:

		(i)	the Executive's embezzlement, misappropriation or fraud, whether
or not related to the Executive's employment with the Company;

		(ii)	the Executive's conviction of or plea of guilty or nolo contendere
to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude,
if such felony or other crime is work-related, materially impairs the Executive's ability to perform services for the Company or
results in material harm to the Company or its affiliates;

Termination of the Executive's employment
shall not be deemed to be for Cause unless and until the Company delivers to the Executive a copy of a resolution duly adopted
by the affirmative vote of not less than a majority of the Board (excluding the Executive’s board vote), after reasonable
written notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before
the Board, finding that the Executive is guilty of the conduct described in any of (i)-(ii) above. Except for a failure, breach
or refusal which, by its nature, cannot reasonably be expected to be cured, the Executive shall have ten (10) business days from
the delivery of written notice by the Company within which to cure any acts constituting Cause; provided however, that, if the
Company reasonably expects irreparable injury from a delay of ten (10) business days, the Company may give the Executive notice
of such shorter period within which to cure as is reasonable under the circumstances.

 

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(c)        
For purposes of this Agreement, "Good Reason" shall mean the occurrence of
any of the following, in each case during the Employment Term without the Executive's written consent:

		(i)	a material reduction in the Executive's Base Salary other than a
general reduction in Base Salary that affects all similarly situated executives in substantially the same proportions;

		(ii)	any material breach by the Company of any material provision of this
Agreement or any material provision of any other agreement between the Executive and the Company;

		(iii)	the Company's failure to obtain an agreement from any successor to
the Company to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required
to perform if no succession had taken place, except where such assumption occurs by operation of law;

		(iv)	the Company's failure have the Executive elected and re-elected to
the Board, as applicable;

		(v)	a material, adverse change in the Executive's title, authority, duties
or responsibilities (other than temporarily while the Executive is physically or mentally incapacitated or as required by applicable
law);

Notwithstanding the foregoing, in
the event that a Change in Control (as defined below) occurs during the Employment Term, the Executive may terminate his employment
for any reason during the thirty-day period following the Change in Control and such termination shall be deemed to be for Good
Reason.

4.2       
Non-renewal by the Company, Without Cause or for Good Reason. The Employment Term and
the Executive's employment hereunder may be terminated by the Executive for Good Reason or by the Company without Cause or on account
of the Company's failure to renew the Agreement in accordance with Section  1.
In the event of such termination, the Executive shall be entitled to receive the Accrued Amounts and, the Executive shall be entitled
to receive the following: 

(a)       
a lump sum payment equal to three times the sum of the Executive's Base Salary for the year
in which the Termination Date occurs (or if greater, the year immediately preceding the year in which the Change in Control occurs)
payable in equal installments in accordance with the Company's normal payroll practices, but no less frequently than monthly, which
shall commence on the Termination Date;

 

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(b)       
a grant of ten million (10,000,000) non-dilutive shares of the Company’s common stock,
par value $0.001 (the “Common Stock”), to be issued no later than thirty (30) days following the Termination Date ("Executive
Shares”). The treatment of any outstanding equity awards shall be determined in accordance with the terms of such awards;

(c)        
notwithstanding the terms of any applicable award agreements, all outstanding unvested stock
options granted to the Executive shall become fully vested and exercisable for the remainder of their full term.

4.3       
Death or Disability.  

(a)       
The Executive's employment hereunder shall terminate automatically upon the Executive's death
during the Employment Term, and the Company may terminate the Executive's employment on account of the Executive's Disability.

(b)       
If the Executive's employment is terminated during the Employment Term on account of the Executive's
death or Disability, the Executive (or the Executive's estate and/or beneficiaries, as the case may be) shall be entitled to receive
the following:

		(i)	the Accrued Amounts; and

(c)        
For purposes of this Agreement, Disability shall mean [the Executive's inability, due to physical
or mental incapacity, to substantially perform his duties and responsibilities under this Agreement for one hundred eighty (180)
days out of any three hundred sixty-five (365) days. Any question as to the existence of the Executive's Disability as to which
the Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable
to the Executive and the Company. If the Executive and the Company cannot agree as to a qualified independent physician, each shall
appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination
of Disability made in writing to the Company and the Executive shall be final and conclusive for all purposes of this Agreement.

4.4       
Change in Control Termination.  

(a)       
Notwithstanding any other provision contained herein, if the Executive's employment hereunder
or service on the Board is terminated by the Executive for Good Reason or by the Company on account of its failure to renew the
Agreement in accordance with Section  1 or without Cause (other than on account
of the Executive's death or Disability), in each case within twenty four (24) months following a Change in Control, the Executive
shall be entitled to receive the Accrued Amounts and the Executive shall be entitled to receive the following: 

		(i)	a lump sum payment equal to three times the sum of the Executive's
Base Salary for the year in which the Termination Date occurs (or if greater, the year immediately preceding the year in which
the Change in Control occurs), which shall be paid within thirty (30) days following the Termination Date.

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(b)       
Notwithstanding the terms of any equity incentive plan or award agreements, as applicable,
all outstanding unvested stock options granted to the Executive during the Employment Term shall become fully vested and exercisable
for the remainder of their full term;

(c)        
For purposes of this Agreement, "Change in Control" shall mean the occurrence
of any of the following:

		(i)	one person (or more than one person acting as a group) acquires ownership
of stock of the Company that, together with the stock held by such person or group, constitutes more than 50% of the total fair
market value or total voting power of the stock of such corporation; provided that, a Change in Control shall not occur if any
person (or more than one person acting as a group) owns more than 50% of the total fair market value or total voting power of the
Company's stock and acquires additional stock (excluding Zahav Resources);

		(ii)	one person (or more than one person acting as a group) acquires (or
has acquired during the twelve-month period ending on the date of the most recent acquisition) ownership of the Company's stock
possessing 30% or more of the total voting power of the stock of such corporation (excluding Zahav Resources);

		(iii)	a majority of the members of the Board are replaced during any twelve-month
period by directors whose appointment or election is not endorsed by a majority of the Board before the date of appointment or
election; or

4.5       
Removal from the Board. In the event of that the Executive is removed from the Board
or fails to be reelected to the Board, the Executive shall be entitled to receive the following: 

(a)       
an increase in the Executive’s Base Salary in the amount of $100,000 payable in equal
installments in accordance with the Company's normal payroll practices, but no less frequently than monthly, which shall commence
on the Termination Date;

(b)       
a grant of ten million (10,000,000) shares of Common Stock, to be issued no later than thirty
(30) days following the date the Executive is removed from the Board or fails to be reelected to the Board. 

4.6       
Notice of Termination. Any termination of the Executive's employment hereunder by the
Company or by the Executive during the Employment Term (other than termination pursuant to Section 4.3(a) on account of the Executive's
death) shall be communicated by written notice of termination ("Notice of Termination") to the other party hereto
in accordance with Section  14. The Notice of Termination shall specify: 

(a)       
The termination provision of this Agreement relied upon;

 

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(b)       
To the extent applicable, the facts and circumstances claimed to provide a basis for termination
of the Executive's employment under the provision so indicated; and

(c)        
The applicable Termination Date.

4.7       
Termination Date. The Executive's Termination Date shall be: 

(a)       
If the Executive's employment hereunder terminates on account of the Executive's death, the
date of the Executive's death; 

(b)       
If the Executive's employment hereunder is terminated on account of the Executive's Disability,
the date that it is determined that the Executive has a Disability;

(c)        
If the Executive terminates his employment hereunder with or without Good Reason, the date
specified in the Executive's Notice of Termination, which shall be no less than fourteen (14) days following the date on which
the Notice of Termination is delivered; and

(d)       
If the Executive's employment hereunder terminates because either party provides notice of
non-renewal pursuant to Section  1, the Renewal Date immediately following the
date on which the applicable party delivers notice of non-renewal. 

Notwithstanding
anything contained herein, the Termination Date shall not occur until the date on which the Executive incurs a "separation
from service" within the meaning of Section 409A.

4.8       
Mitigation. 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,
any amounts payable pursuant to this Section 4 shall not be reduced by compensation the Executive earns on account of employment
with another employer.

4.9       
Resignation of All Other Positions. Upon termination of the Executive's employment
hereunder for any reason, the Executive shall be deemed to have resigned from all positions that the Executive holds as an officer
or member of the board of directors (or a committee thereof) of the Company or any of its affiliates.

5.      
Cooperation. The parties agree that certain matters in which the Executive will be
involved during the Employment Term may necessitate the Executive's cooperation in the future. Accordingly, following the termination
of the Executive's employment for any reason, to the extent reasonably requested by the Board, the Executive shall cooperate with
the Company in connection with matters arising out of the Executive's service to the Company; provided that, the Company shall
make reasonable efforts to minimize disruption of the Executive's other activities. The Company shall reimburse the Executive for
reasonable expenses incurred in connection with such cooperation and, to the extent that the Executive is required to spend substantial
time on such matters, the Company shall compensate the Executive at an hourly rate.

 

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6.      
Confidential Information. The Executive understands and acknowledges that during the
Employment Term, he will have access to and learn about Confidential Information, as defined below and the Executive shall return
all Confidential information to the Company.

6.1       
Confidential Information Defined.  

(a)       
Definition.

For purposes of this
Agreement, "Confidential Information" includes, but is not limited to, all information not generally known to
the public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to: business processes,
practices, methods, policies, plans, documents, research, strategies, techniques, agreements, contracts, terms of agreements, potential
transactions, negotiations, pending negotiations, know-how, trade secrets, applications, work-in-process, databases, records, material,
sources of material, supplier information, vendor information, results, legal information, pricing information, credit information,
supplier lists, vendor lists, developments, reports, discoveries, experimental processes, experimental results; and distributor
lists of the Company or its businesses or of any other person or entity that has entrusted information to the Company in confidence.

The Executive understands
that the above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise
identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary
in the context and circumstances in which the information is known or used.

The Executive understands
and agrees that Confidential Information includes information developed by him in the course of his employment by the Company as
if the Company furnished the same Confidential Information to the Executive in the first instance. Confidential Information shall
not include information that is generally available to and known by the public at the time of disclosure to the Executive; provided
that, such disclosure is through no direct or indirect fault of the Executive or person(s) acting on the Executive's behalf.

(b)       
Disclosure and Use Restrictions.

The Executive agrees
and covenants: (i) to treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly disclose,
publish, communicate or make available Confidential Information, or allow it to be disclosed, published, communicated or made available,
in whole or part, to any entity or person whatsoever (including other employees of the Company) not having a need to know and authority
to know and use the Confidential Information in connection with the business of the Company and, in any event, not to anyone outside
of the direct employ of the Company except as required in the performance of the Executive's authorized employment duties to the
Company; and (iii) not to access or use any Confidential Information, and not to copy any documents, records, files, media or other
resources containing any Confidential Information, or remove any such documents, records, files, media or other resources from
the premises or control of the Company, except as required in the performance of the Executive's authorized employment duties to
the Company or acting on behalf of the Company in each instance (and then, such disclosure shall be made only within the limits
and to the extent of such duties or consent). Nothing herein shall be construed to prevent disclosure of Confidential Information
as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized
government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order.

 

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7.      
Governing Law: Jurisdiction and Venue. This Agreement, for all purposes, shall be construed
in accordance with the laws of New York without regard to conflicts of law principles. Any action or proceeding by either of the
parties to enforce this Agreement shall be brought only in a state or federal court located in the State of New York. 

8.      
Entire Agreement. Unless specifically provided herein, this Agreement contains all
of the understandings and representations between the Executive and the Company pertaining to the subject matter hereof and supersedes
all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to
such subject matter. The parties mutually agree that the Agreement can be specifically enforced in court and can be cited as evidence
in legal proceedings alleging breach of the Agreement. 

9.      
Modification and Waiver. No provision of this Agreement may be amended or modified
unless such amendment or modification is agreed to in writing by the parties. No waiver by either of the parties of any breach
by the other party hereto of any condition or provision of this Agreement to be performed by the other party hereto shall be deemed
a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure
of or delay by either of the parties in exercising any right, power or privilege hereunder operate as a waiver thereof to preclude
any other or further exercise thereof or the exercise of any other such right, power or privilege.

10.   
Severability. Should any provision of this Agreement be held by a court of competent
jurisdiction to be enforceable only if modified, or if any portion of this Agreement shall be held as unenforceable and thus stricken,
such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding
upon the parties with any such modification to become a part hereof and treated as though originally set forth in this Agreement.

The parties further
agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing
such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or
all of the offending provision, adding additional language to this Agreement or by making such other modifications as it deems
warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by law.

The parties expressly
agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any event,
should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified
as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth
herein.

 

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11.   
Captions. Captions and headings of the sections and paragraphs of this Agreement are
intended solely for convenience and no provision of this Agreement is to be construed by reference to the caption or heading of
any section or paragraph.

12.   
Counterparts. This Agreement may be executed in separate counterparts, each of which
shall be deemed an original, but all of which taken together shall constitute one and the same instrument.

13.   
Successors and Assigns. This Agreement is personal to the Executive and shall not be
assigned by the Executive. Any purported assignment by the Executive shall be null and void from the initial date of the purported
assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Company. This Agreement shall inure to
the benefit of the Company and permitted successors and assigns.

14.   
Notice. Notices and all other communications provided for in this Agreement shall be
in writing and shall be delivered personally or sent by registered or certified mail, return receipt requested, or by overnight
carrier to the parties at the addresses set forth below (or such other addresses as specified by the parties by like notice):

If to the Company:

Rimrock Gold Corp.

3651 Lindell Rd Suite #D155

Las Vegas, NV 89103

 

If to the Executive:

Rimrock Gold Corp.

3651 Lindell Rd Suite #D155

Las Vegas, NV 89103

Attn: Richard R. Redfern

15.   
Representations of the Executive. The Executive represents and warrants to the Company
that:

15.1    
The Executive's acceptance of employment with the Company and the performance of his duties
hereunder will not conflict with or result in a violation of, a breach of, or a default under any contract, agreement or understanding
to which he is a party or is otherwise bound.

 

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15.2    
The Executive's acceptance of employment with the Company and the performance of his duties
hereunder will not violate any non-solicitation, non-competition or other similar covenant or agreement of a prior employer.

16.   
Withholding. The Company shall have the right to withhold from any amount payable hereunder
any Federal, state and local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable
law or regulation.

17.   
Survival. Upon the expiration or other termination of this Agreement, the respective
rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary to carry
out the intentions of the parties under this Agreement.

18.   
Acknowledgment of Full Understanding. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE
HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS HAD AN
OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT.

 

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[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date first above written.

 

	
        RIMROCK GOLD CORP.

         
	
        RIMROCK GOLD CORP.

         

         

	
         

        By_____________________

        Name: Jordan Starkman

        Title: President
	
         

        By_____________________

        Name: Richard R. Redfern

        Title: Director

 

	 	
         

         

        RICHARD R. REDFERN

         

	 	
         

        Signature: _____________________

        Print Name: ____________________

 

 

 

[SIGNATURE PAGE TO EMPLOYMENT AGREEMENT]

 

    	13EX-10.1

 Exhibit 10.1 

EMPLOYMENT SECURITY AGREEMENT 

This Employment Security Agreement (“Agreement”) is entered into as of the 11th day of February, 2015 (the “Effective
Date”) by and between Newell Rubbermaid Inc., a Delaware corporation (“Employer”), and John K. Stipancich (“Executive”). 

WITNESSETH: 
 WHEREAS, Executive is
currently employed by Newell Rubbermaid Inc. as EVP, General Counsel; 
 WHEREAS, Executive will transition his position to serve as Chief
Financial Officer of Employer; 
 WHEREAS, Employer desires to provide certain security to Executive in connection with such transitioning
of Executive’s employment with Employer; and 
 WHEREAS, Executive and Employer are parties to an Employment Security Agreement dated
as of July 3, 2012, which agreement is hereby amended, restated and replaced in its entirety as set forth herein. 
 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: 

1. Definitions. For purposes of this Agreement, the following words shall have the meanings set forth below: 

(a) “Affiliate” shall have the meaning set forth in Rule 12b-2 under the Securities Exchange Act of 1934. 

(b) “Base Salary” shall mean (i) with respect to Section 3(a) hereof, 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, and (ii) with respect to Section 3(b) hereof, Executive’s annual
base salary at the rate in effect immediately prior to Executive’s termination of employment with Employer. 
 (c)
“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
(solely to the extent Section 3(a) hereof is applicable) or the date of Executive’s termination of employment with Employer (whichever position is higher (solely to the extent Section 3(a) hereof is applicable) at the time) and
(ii) attainment of the targeted performance goals at a one hundred percent (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). 

 (d) “CEO” means Michael B. Polk, President and Chief Executive
Officer of Employer. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 

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

 

	 	(i)	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 twenty-five percent (25%) or more of the combined voting power of Employer’s then outstanding
securities entitled to vote generally in the election of directors; 

  

	 	(ii)	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 fifty percent (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; 

 

	 	(iii)	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 fifty percent (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 

  
 - 2 - 

	 	(iv)	during any period of two (2) consecutive years or less, individuals who at the beginning of such period constituted the Board of Directors of Employer (collectively, the “Board” and individually, a
“Director”) (and any new Directors, whose appointment or election by the Board or nomination for election by Employer’s stockholders was approved by a vote of at least two-thirds (2/3) 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. 

(g) “Good Cause” shall exist if, and only if: 

 

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

  

	 	(ii)	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 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 thirty (30) days’ prior written notice
specifying in detail the reason or reasons for Executive’s termination. 
 (h) “Good Reason” shall exist if,
without Executive’s written consent: 
  

	 	(i)	there is a material change in the nature or the scope of Executive’s authority or duties; 

  

	 	(ii)	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; 

  

	 	(iii)	there is a material reduction in Executive’s rate of base salary; 

  

	 	(iv)	Employer changes by fifty (50) miles or more the principal location in which Executive is required to perform services; 

  
 - 3 - 

	 	(v)	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 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 

  

	 	(vi)	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). 

(i) “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. 
 (j) “Retirement
Plan” shall mean any qualified or supplemental defined benefit retirement plan or defined contribution retirement plan, currently or hereinafter made available by Employer or an Affiliate in which Executive is eligible to participate.

 (k) “Salary Continuation Period” shall mean the period of time during which Executive is eligible to receive
severance pursuant to the Newell Rubbermaid Severance Pay Plan for Executives Band 10 and above. 
 (l) “Severance
Period” shall mean the period beginning on the date Executive’s employment with Employer terminates under circumstances described in Sections 3(a) and ending on the date twenty-four (24) months thereafter. 

(m) “Severance Plan” shall mean the Newell Rubbermaid Severance Pay Plan for Executives Band 10 and above. 

(n) “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. 

  
 - 4 - 

 2. Term. The term of this Agreement shall be the period beginning on the Effective Date
and terminating on the date twenty-four (24) months after the date of Executive’s termination of employment (the “Term”). 

3. Termination of Employment. 

(a) Change in Control. If a Change in Control occurs, Executive shall be entitled to the compensation and benefits described in
Section 4 if at any time during the twenty-four (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. 
 (b) Other Termination. If Executive is terminated by Employer for
any reason other than Good Cause or a Change in Control (“Involuntary Termination”) during the thirty-six (36) month period following the Effective Date, Executive shall be entitled to the compensation and benefits described in
Section 5. 
 4. Compensation and Benefits Upon Termination of Employment Following Change in Control. Upon termination of
Executive’s employment with Employer under circumstances described in Section 3(a) above, and in lieu of any compensation and benefits under the Severance Plan: 

(a) Subject to Section 15 hereof, Employer shall pay Executive, in a lump sum within thirty (30) days following
Executive’s termination of employment, the sum of: 
  

	 	(i)	two (2) times the sum of Executive’s Base Salary and Bonus; plus 

  

	 	(ii)	Executive’s Bonus for the year of termination multiplied by a fraction, the numerator of which is the number of days in the fiscal year in which the date of termination occurs that have elapsed through the date of
termination and the denominator of which is three hundred sixty-five (365). 

 (b) Subject to compliance with
Section 15 hereof, Executive shall be entitled to receive any and all compensation and 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. 
 (c) Subject to Section 15 hereof,
(i) Executive’s benefits accrued or credited through the date of termination of employment under the Newell Rubbermaid Supplemental Executive Retirement Plan, or its successor (“SERP”) and the Newell Rubbermaid Inc. 2008
Deferred Compensation Plan, or its successor (the “2008 Deferred Compensation Plan”) that 

  
 - 5 - 

 
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 provisions (other than
vesting) applicable to the plans); and (ii) Employer shall also pay to Executive, in a lump sum within thirty (30) days following Executive’s termination of employment, an amount equal to Executive’s benefits accrued or credited
through the date of termination of employment under the Employer’s tax-qualified defined contribution Retirement Plans that are not vested as of the date of termination of employment. 

(d) If upon the date of termination of Executive’s employment, Executive holds any awards (under an Incentive Plan or otherwise)
with respect to securities of Employer, then upon such termination of employment date (i) all such awards that are stock options shall immediately become exercisable upon such date and shall be exercisable thereafter until the earlier of
the third (3rd) year anniversary of Executive’s termination of employment or the expiration of the term of the options; (ii) all restrictions on any awards of restricted securities
shall terminate or lapse; and (iii) subject to compliance with Section 15 hereof, 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. 
 (e) 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, as amended, and Section 4980B of the Code (“COBRA”), shall be provided under COBRA, except that the maximum coverage period shall be extended from eighteen (18) to twenty-four
(24) months, even if such additional six (6) months of coverage is in excess of an applicable eighteen (18) month COBRA continuation period (“Continuation Coverage”). If Executive, his spouse, and/or his eligible dependents
elect Continuation Coverage under any such Welfare Plan, Employer shall, to the extent such payment does not constitute or create a discriminatory insured plan of Employer in violation of Sections 2716(a) and 2716(b)(1) of the Public Health Service
Act, to the pay a portion of the Continuation Coverage premiums as follows: (aa): the portion to be paid by Employer shall, for the first eighteen (18) months of Continuation Coverage, equal the amount necessary so that the total of the
Continuation Coverage premiums paid by Executive, his spouse, and/or his eligible 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; and
(bb) for the final six (6) months of Continuation Coverage, if continued by Executive, his spouse, and/or his eligible dependents, as applicable, Employer shall reimburse a portion of the Continuation Coverage premiums on an after-tax
basis; and the portion reimbursed by Employer shall equal the amount necessary so that 

  
 - 6 - 

	 	
the total of the COBRA premiums paid by Executive, his spouse, and/or his dependents after reimbursements 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, 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 Welfare 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 reimburse the costs of such coverage under such Welfare Plans so that the cost to Executive is the same 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 (or under insurance policies insuring such
benefits), Employer shall provide substantially similar benefits and reimburse the same proportion of costs. 

 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 plan provided by his new employer. 

(f) 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 within thirty (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. 
 (g) Employer
shall, at Employer’s expense, provide Executive with six (6) months of executive outplacement services with a professional outplacement firm selected by Employer; provided that the outplacement services must be used by Executive by no
later than the end of the second (2nd) calendar year following the calendar year in which the termination of employment occurred. 

(h) Executive shall not be entitled to reimbursement for fringe benefits during the Severance Period, including but not limited to dues
and expenses related to club memberships, automobile, cell phone, expenses for professional services, and other similar perquisites, except as specifically provided herein. 

  
 - 7 - 

 5. Compensation and Benefits upon Involuntary Termination Other Than a Change in Control.
Upon termination of Executive’s employment with Employer under the circumstances described in Section 3(b) above (and in lieu of any payments or benefits under the Severance Plan): 

(a) Employer shall pay Executive, in a lump sum as soon as practicable following Executive’s termination of employment, but in no
event later than thirty (30) days following such termination, the sum of: 
  

	 	(i)	Severance pay in a total amount calculated pursuant to the Severance Plan ; plus 

  

	 	(ii)	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 three hundred sixty-five (365). Such Bonus payment will not be subject to any individual performance modifier. 

 (b)
If upon the date of Executive’s Involuntary Separation, Executive holds any awards (under an Incentive plan or otherwise) with respect to securities of Employer, all unvested stock options and restricted shares shall forfeit except those
which would have otherwise vested during the 24-month period following Executive’s termination date had Executive’s employment not been terminated, all of which shall be permitted to vest as if Executive remained employed during that
24-month period. Any performance goals applicable to any performance-based awards shall be deemed satisfied at the “actual” level. Executive shall remain eligible to exercise any vested stock options throughout the Salary
Continuation Period (“Option Exercise Period”) provided that no stock option will be exercisable under this provision after the earlier of: (i) the end of the Option Exercise Period, (ii) the latest date the option could
have expired under its original terms and (iii) the tenth (10th) year anniversary of the date of the original grant. 

(c) During the Salary Continuation Period, Executive and his spouse and eligible dependents shall be eligible for COBRA coverage during
the Salary Continuation Period under any Welfare Plan that is a group health plan and provided Executive and his spouse/eligible dependents remain eligible for COBRA, for a period of twelve (12) months, Employer shall pay (to the extent such
payment does not constitute or create a discriminatory insured plan of Employer in violation of Sections 2716(a) and 2716(b)(1) of the Public Health Service Act) a portion of the COBRA premiums such that Executive’s COBRA premium payment is
equal to the premium that would have been paid by Executive for such coverage as an active employee immediately prior to the Involuntary Termination. 

(d) 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 thirty (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.  

  
 - 8 - 

 (e) Employer shall, at Employer’s expense, provide Executive with executive
outplacement services for the same time period applicable to others separated and eligible for benefits under the Severance Plan with a professional outplacement firm selected by Employer; provided that the outplacement services must be used by
Executive by no later than twelve (12)months following the calendar year in which the termination of employment occurred. 
 (f)
Executive shall remain for all other separation or severance benefits for which he is otherwise eligible pursuant to the applicable plan or policy document. 

6. 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 Executive or others. In no event shall Executive be obligated to
seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not Executive obtains other employment, except as
expressly provided in Section 4(e). 
 7. Death. With respect to Section 3(a) and 3(b) hereof, if Executive dies during
the Severance Period, (i) all amounts payable pursuant to Section 3(a) and 3(b) 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;
(ii) Executive’s surviving spouse and eligible dependents shall continue to be covered under all applicable Welfare Plans during the remainder of the Severance Period; and on the death of the surviving spouse and eligible dependents, no
further Welfare Plan coverage shall be provided (other than any coverage required pursuant to COBRA); and (iii) no further benefits shall be paid, except for benefits accrued under any Incentive Plans and Retirement Plans to the date of
Executive’s death , to the extent such benefits continue following Executive’s death pursuant to the term of such Plans. 
 8.
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 9), 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 8(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 8(d)) of aggregate Payments if Executive’s Agreement Payments were reduced to the Reduced Amount. If instead the Accounting Firm determines that Executive 

  
 - 9 - 

 
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 9 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 9 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 8 or any other provision of this Agreement be construed to require
the Employer to provide any tax gross-up for 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 9, 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 interest 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 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 compliance with Section 15) together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. 

  
 - 10 - 

 (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 good faith, as likely to apply to Executive 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 8(a). 

 9. 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 two hundred fifty thousand dollars ($250,000) shall not be considered a violation of this Section 9. 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. 

10. 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. 

11. 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 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 

  
 - 11 - 

 
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. 

12. Executive Assignment. No interest of Executive or his spouse, dependents 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, dependents 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. 
 13. Funding. 

(a) Prior to a Change in Control, all rights of Executive and his spouse, dependents 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, dependents or other beneficiary shall have any
interest in or rights against any specific assets of Employer, and Executive and his spouse, dependents or other beneficiary shall have only the rights of a general unsecured creditor of Employer. 

(b) No later than five (5) 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 92-64, 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 8 upon a termination of his employment under circumstances described in Section 3(a), such amount to be determined as if Executive’s termination of employment occurred on the date of the
Change in Control. At six- (6-) 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 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 13(b) shall be construed and applied in a manner so
as to avoid the application of Section 409A(b)(2) of the Code. 
 14. Legal Expenses. Employer shall pay as incurred
(within ten (10) calendar days following Employer’s receipt of an invoice from Executive) Executive’s out-of-pocket expenses, including attorneys’ fees, incurred by Executive at any time from the Effective Date through
Executive’s remaining lifetime or, if longer, through the twenty- (20-) year anniversary of the  

  
 - 12 - 

 
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 Executive shall have submitted an invoice for
such fees and expenses at least fifteen (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 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 14 shall not be conditioned upon Executive’s termination of employment. 

15. Section 409A. 

(a) The amounts payable pursuant to Sections 4 and 5 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 involuntary separation pay exception (also known as the two- (2-) times rule) set forth in Section 1.409A-1(b)(9)(iii) or certain other separation pay exceptions set
forth in 
Section 1.409A-1(b)(9)(v) of the Treasury Regulations. Notwithstanding the foregoing, no payment shall be made until the end of the thirty- (30-) day determination period under Section 8(b); provided that such determination
shall not preclude application of the Code Section 409A short-term deferral exception. To the extent that an amount payable under Section 4 does not comply with any of the foregoing exceptions or other exceptions or exemptions from Code
Section 409A, including but not limited to the de minimis exception, the exception for certain indemnification and liability insurance plans, and the like under the Treasury Regulations, then the amount shall be subject to the following
rules: 
  

	 	(i)	Notwithstanding anything contained in this Agreement to the contrary, if on the date of his termination of employment Executive is a “specified employee,” within the meaning of Section 409A of the Code
and Employer’s policy for determining specified employees, 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 (6) 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) of the Code in effect on
the date of termination of employment) within thirty (30) days after the first business day following the six- (6-) month anniversary of such termination of employment (or, if Executive dies during such six- (6-) month period, within thirty
(30) days after Executive’s death). 

  
 - 13 - 

	 	(ii)	The benefits described in paragraphs (e), (f), 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 COBRA 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 sixty (60) calendar days following Executive’s written request for reimbursement or such later date set forth in Section 15(a)(i); provided that Executive provides written notice no later than
seventy-five (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; (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; and (4) each payment shall be treated as a separate payment. 

(b) 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 Executive shall take all steps necessary (including with regard to any post-termination services by
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. 
 (c) 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 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 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 Executive or other taxpayers as a result of the Agreement. 

  
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 16. 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. 

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

18. Entire Agreement. This Agreement contains the entire Agreement between Employer and Executive and supersedes
(i) Executive’s rights under the Severance Plan, and (ii) any and all previous agreements, written or oral, between the parties or between Executive and an Affiliate of Employer, relating to severance benefits in the event of a Change
in Control or otherwise, including any previous Employment Security Agreement between Executive and Employer. 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. 
 19. 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 and Executive may terminate Executive’s employment at any time, with or without cause. 

20. 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. 
 21. 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 the 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. 

22. 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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 23. 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:		John K. Stipancich		
			     
		
			     
		

 24. 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 on the actual date(s) specified below, but
effective as of the day and year written above. 
  

			
	NEWELL RUBBERMAID INC.
		
	By:		 /s/ Paula S. Larson

	Name:  		Paula S. Larson
	Title:		Executive Vice President, Chief Human Resources Officer
		
	Date:		February 11, 2015
	
	EXECUTIVE
	
	 /s/ John K. Stipancich

	John K. Stipancich
	
	Date: February 11, 2015

  
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