Document:

EX-10.2

 EXHIBIT 10.2 

NEWELL BRANDS INC. 

AMENDED AND RESTATED MANAGEMENT BONUS PLAN 

THE MANAGEMENT BONUS PLAN (this “Plan”) of Newell Brands Inc., a Delaware corporation (“Newell”), is hereby amended
and restated as follows, effective as of January 1, 2021. 
 RECITALS 

WHEREAS, effective as of January 1, 2017 the Board of Directors of Newell adopted an incentive bonus plan pursuant to which Newell
awarded bonuses that were intended to constitute qualified performance-based compensation within the meaning of Section 162(m) of the Code (as defined below); and 

WHEREAS, the Organizational Development & Compensation Committee (the “Committee”) of the Board of Directors of
Newell has been granted the authority under Section 10.1 of the Newell Brands Inc. Management Bonus Plan (the “Plan”), to amend the Plan; and 

WHEREAS, the Tax Cuts and Jobs Act of 2017 (the “TCJA”) eliminated the exception from the $1 million deduction limit
under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), for qualified performance-based compensation payable to “Executive Officers,” effective for tax years beginning on or after January 1,
2018; and 
 WHEREAS, accordingly, the Committee previously amended the Plan so that the provisions of the Plan intended to permit
the grant of qualified performance-based compensation under Section 162(m) of the Code, as in effect before the TCJA, generally no longer apply with respect to Bonus Awards (as defined below) granted on or after January 1, 2018; and 

WHEREAS, the Committee desires to amend and restate the Plan; 

NOW, THEREFORE, Newell hereby amends and restates the Plan to read in its entirety as follows, effective January 1, 2021: 

 

	1.	 STATEMENT OF PURPOSE 

1.1 Statement of Purpose. The purpose of the Plan is to encourage the creation of shareholder value by establishing a direct link
between the achievement of designated Corporate Performance Objectives (as defined below) and the incentive compensation of Participants in the Plan. Participants contribute to the success of Newell and its Affiliates (as defined below) through the
application of their skills and experience in fulfilling the responsibilities associated with their positions. Newell and its Affiliates desire to benefit from the contributions of the Participants and to provide an incentive bonus plan that
encourages the sustained creation of shareholder value. 

	2.	 DEFINITIONS 

2.1 Definitions. Capitalized terms used in the Plan shall have the following meanings: 

“Affiliate” means any entity that is part of a controlled group of corporations or is under common control with Newell within
the meaning of Code Sections 1563(a), 414(b) or 414(c), except that, in making any such determination, fifty percent (50%) shall be substituted for eighty percent (80%) each place it appears under such Code Sections and related regulations. 

“Aggregate Corporate Performance Bonus Multiplier” means the percentage(s) from zero percent (0%) to two hundred percent
(200%) that applies to determine the Participant’s Bonus Award for the Bonus Period and corresponds to the Corporate Performance Objective(s) and/or level(s) of Corporate Performance Objective(s) that must be achieved during the Bonus Period to
calculate the Participant’s Bonus Award. The Committee shall establish how the Aggregate Corporate Performance Bonus Multiplier shall be determined for purposes of determining the Participant’s Bonus Award. If the Aggregate Corporate
Performance Bonus Multiplier is to be determined based on the achievement of a single level of a Corporate Performance Objective, the Aggregate Corporate Performance Bonus Multiplier shall be the same as the Corporate Performance Bonus Multiplier
assigned to that single level of Corporate Performance Objective for the Bonus Period. If the Aggregate Corporate Performance Bonus Multiplier is to be determined based on the achievement of more than one Corporate Performance Objective or more than
one level of Corporate Performance Objective, the Aggregate Corporate Performance Bonus Multiplier shall equal the sum of those percentages determined by multiplying (i) the Corporate Performance Bonus Multiplier assigned to each separate
Corporate Performance Objective or level of Corporate Performance Objective for the Bonus Period by (ii) the Weighting Percentage assigned to that separate Corporate Performance Objective or level of Corporate Performance Objective. 

“Beneficiary” means the person or persons designated in writing by the Participant to be the Participant’s Beneficiary.
Such designation shall be made in writing by the Participant in the manner prescribed by the Committee. The Participant may change or revoke such designation at any time, only if such change or revocation is made in writing in the manner prescribed
by the Committee. If, at the time of the Participant’s death, no Beneficiary has been designated or the designated Beneficiary predeceases the Participant, the Participant’s Beneficiary for purposes of the Plan will be (i) the
Participant’s spouse, (ii) if there is no spouse, the Participant’s children, including legally adopted children, in equal shares per stirpes, and (iii) if there is no spouse nor children, the Participant’s estate. 

“Bonus Award” means the Bonus Award which can be earned and paid for the Bonus Period to a Participant, which results from
multiplying the Participant’s Compensation for the Bonus Period by the product of (i) the Participant’s Target Bonus Percentage and (ii) the Participant’s relevant Corporate Aggregate Performance Bonus Multiplier.
Notwithstanding the foregoing, the Committee in its discretion may establish a different methodology from the foregoing to determine the Participant’s Bonus Award for the Bonus Period. The Participant’s Bonus Award may be increased or
decreased as the Committee in its sole discretion shall determine based on the Participant’s individual performance or such other factors as the Committee determines to be appropriate. 

“Bonus Period” means the period beginning January 1 and ending December 31 of the calendar year in respect of which
the Corporate Performance Objectives are measured and the Participants’ Bonus Awards, if any, are to be determined. 

“Cause” means (i) the Participant’s willful engagement in misconduct in the performance of Participant’s
duties that causes material harm to Newell or any of its Affiliates; (ii) the Participant’s conviction of a criminal violation involving fraud or dishonesty or (iii) the Participant’s unsatisfactory performance or conduct
detrimental to Newell or any of its Affiliates, as determined solely by the Committee. Without limiting the generality of the foregoing, the following shall not constitute Cause under clauses (i) and (ii) above: the failure by the Participant
and/or Newell to attain financial or other 

  
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business objectives; any personal or policy disagreement between the Participant and Newell or any of its Affiliates or any member of the Board of Directors of Newell; or any action taken by the
Participant in connection with Participant’s duties if the Participant has acted in good faith and in a manner the Participant reasonably believed to be in, and not opposed to, the best interest of Newell and its Affiliates and had no
reasonable cause to believe the Participant’s conduct was improper. Notwithstanding anything herein to the contrary, in the event Newell or any Affiliate terminates the employment of a Participant for Cause, as defined in clauses (i) and
(ii) only, Newell or the Affiliate shall give the Participant at least thirty (30) days’ prior written notice specifying in detail the reason or reasons for the Participant’s termination. 

“CEO” means the Chief Executive Officer of Newell. 

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

(i) any individual, partnership, firm, corporation, association, trust, unincorporated organization or other entity (other than Newell or a
trustee or other fiduciary holding securities under an employee benefit plan of Newell or an Affiliate), or any syndicate or group deemed to be a person under Section 14(d)(2) of 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 Newell representing twenty-five percent (25%) or more of the combined voting
power of Newell’s then outstanding securities entitled to vote generally in the election of directors; 
 (ii) Newell 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 Newell’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 Newell’s outstanding securities entitled to vote generally in the election of directors; 

(iii) Newell 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 Newell’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 Newell’s outstanding securities entitled to vote generally in the election of directors; or 

(iv) during any period of two (2) consecutive years or less, individuals who, (A) at the beginning of such period constituted the
Board of Directors of Newell (collectively, the “Board” and individually, a “Director”) (and any new Directors, whose appointment or election by the Board or nomination for election by Newell’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) and
(B) have not in the interim during such period ceased their service as a Director for any duration (without reappointment to the Board as a new Director whose appointment or election was approved by a vote of at least two-thirds of the Directors then still in office who either were Directors at the beginning of the period and throughout such interim period or whose appointment, election or nomination for election was so
approved), cease for any reason to constitute a majority of the Board. 

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

“Committee” means the Organizational Development and Compensation Committee of the Board of Directors of Newell or a sub-committee of the Organizational Development and Compensation Committee of the Board of Directors of Newell. The Committee shall administer the Plan. 

“Compensation” means the Participant’s actual base salary or wages earned during the Bonus Period, excluding incentive
payments, salary continuation, bonuses, income from equity awards, stock options, restricted stock, restricted stock units, deferred compensation, commissions, and any other forms of compensation over and above the Participant’s actual base
salary or wages earned during the Bonus Period. 
 “Corporate Performance Bonus Multiplier” means the percentage(s) from
zero percent (0%) to two hundred percent (200%) that applies to each separate Corporate Performance Objective or separate level of Corporate Performance Objective used to determine the Participant’s Bonus Award for the Bonus Period, if any. The
Committee shall establish the Corporate Performance Bonus Multiplier that corresponds to each Corporate Performance Objective or different level of Corporate Performance Objective that must be achieved during the Bonus Period to calculate the
Participant’s Bonus Award. 
 “Corporate Performance Objectives” means any quantitative business criteria established
by the Committee to determine the Participant’s Bonus Award payout. 
 “Executive Officers” means the Employees or
Participants who are the executive officers of Newell, as defined under the Exchange Act. 
 “Disability” has the same
definition as under any employment or service agreement between the Employer and the Participant or, if no such employment or service agreement exists or if such employment or service agreement does not contain any such definition, Disability means
where the Participant is “disabled” or has incurred a “disability” in accordance with the policies of the Employer that employs the Participant in effect at the applicable time (not counting any short-term disability). 

“Distribution” means the payment of the Bonus Award under the Plan. 

“Distribution Date” means the date on which the Distribution occurs. 

“Effective Date” means January 1, 2021. 

“Employee” means a common law employee of an Employer who is classified as “exempt” on the Employer’s payroll,
personnel or tax records. A common law employee of an Employer only includes an individual who renders personal services to the Employer and who, in accordance with the established payroll, accounting and personnel policies of the Employer, is
characterized by the Employer as an “exempt” common law employee. An Employee does not include (i) any person whom the Employer has identified on its payroll, personnel or tax records as an independent contractor or (ii) any
person who has acknowledged in writing to the Employer that such person is an independent contractor, whether or not in case of both (i) and (ii) a court, the Internal Revenue Service or any other authority ultimately determines such
classification to be correct or incorrect as a matter of law or (iii) any person who is classified other than as “exempt” on the Employer’s payroll, personnel or tax records. 

“Employer” means Newell and any Affiliate of Newell who employs one or more Employees. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 “Newell” means Newell Brands Inc., a Delaware corporation, and any
successor thereto. 
 “Participant” means an Employee of an Employer who is selected by the Committee to participate in the
Plan. 
 “Plan” means this Newell Brands Inc. Management Bonus Plan, in its current form and as it may be hereafter
amended. 
 “Retirement” means the Participant’s termination of employment with Newell and its Affiliates without
Cause on or after the date the Participant (i) has attained age sixty (60) or (ii) has attained age fifty-five (55) and has ten (10) or more Years of Service. 

“Target Bonus Percentage” means, if applicable, the percentage of the Participant’s Compensation that will be earned as
a Bonus Award where the Corporate Performance Objectives that are achieved for the Bonus Period result in an Aggregate Corporate Performance Bonus Multiplier of one hundred percent (100%). The Target Bonus Percentage for each Participant shall be
established consistent with the Participant’s position in the Employer’s compensation structure. 
 “Weighting
Percentage” means the percentage from one percent (1%) to one hundred percent (100%) assigned by the Committee to each separate Corporate Performance Objective or separate level of Corporate Performance Objective to be achieved to determine
the Participant’s Bonus Award for the Bonus Period. In no event may the sum of the Weighting Percentages assigned to the Corporate Performance Objectives and levels of Corporate Performance Objectives to be achieved for the Bonus Period to
calculate the Participant’s Bonus Award exceed one hundred percent (100%) for either such determination. 
 “Years of
Service” means the Participant’s period of employment with Newell and its Affiliates from Participant’s most recent date of hire (including any predecessor company or business acquired by Newell or any Affiliate, provided the
Participant was immediately employed by Newell or an Affiliate), determined in fully completed years. 
  

	3.	 ADMINISTRATION OF THE PLAN 

3.1 Administration of the Plan. The Committee shall be the administrator of the Plan and shall have full authority to formulate
adjustments and make interpretations under the Plan as it deems appropriate. The Committee in its sole discretion may appoint one or more individuals who are not members of the Board of Directors of Newell or the Committee to administer the Plan on
its behalf, except that the Committee remains responsible to approve all aspects of the Plan that may affect Bonus Awards with respect to Executive Officers. The Committee shall also be empowered to make any and all of the determinations not herein
specifically authorized which may be necessary or desirable for the effective administration of the Plan. Any decision or interpretation of any provision of this Plan adopted by the Committee or its appointees shall be final, binding and conclusive
on all parties. Benefits under this Plan shall be paid only if the Committee or its appointee determines, in its sole discretion, that the Participant or Beneficiary is entitled to them. None of the members of the Committee or its appointees shall
be liable for any act done or not done in good faith with respect to this Plan. Newell shall bear all expenses of administering this Plan. 
  

	4.	 ELIGIBILITY 

4.1 Establishing Participation. Each Employee whose position in the Employer’s compensation structure entitles him or her to
participate in the Plan shall participate in the Plan for the applicable Bonus Period, including any such eligible Employee hired after the commencement of the Bonus Period and prior to October
1st of the Bonus Period. Notwithstanding the foregoing, except as 

  
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approved by the Committee, Employees hired on or after October 1st of the Bonus Period shall not be eligible to participate in the Plan for
that Bonus Period. Any Employee promoted during the Bonus Period may participate in the Plan in accordance with such Employee’s status for the relevant portion of the Bonus Period. 

 

	5.	 AMOUNT OF BONUS AWARDS 

5.1 Establishment of Bonuses. 

(a) Establishment of Bonus Awards. The Committee shall establish, for each Participant, the Participant’s (i) Target Bonus
Percentage, if any, (ii) the Corporate Performance Objective(s) and level(s) of Corporate Performance Objectives that must be achieved to determine the Participant’s Bonus Award and (iii) the Aggregate Corporate Performance Bonus
Multiplier that will apply to determine the Participant’s Bonus Award for the Bonus Period. 
 (b) Time and Manner of
Establishment. The Corporate Performance Objectives and levels of Corporate Performance Objectives to be achieved must take into account and be calculated with respect to the full accrual and payment of the Bonus Awards to be paid under the
Plan. Each Participant’s (i) Target Bonus Percentage, (ii) Corporate Performance Objective(s) and level(s) of Corporate Performance Objective to be achieved, and (iii) Corporate Performance Bonus Multiplier that corresponds to
each Corporate Performance Objective or level of Corporate Performance Objective to be achieved (collectively, “Bonus Metrics”) will be established in writing no later than ninety (90) days after the beginning of the Bonus Period to
which they relate; provided that the Committee retains the discretion to postpone the determination of any Bonus Metrics to a later date or to amend any previously approved Bonus Metrics at any time prior to the end of the Bonus Period. The
Corporate Performance Objectives may not include solely the mere continued employment of the Participant, although Bonus Awards may become payable contingent on the Participant’s continued employment in addition to Corporate Performance
Objectives or levels of Corporate Performance Objectives. If there are separate Corporate Performance Objectives and/or separate levels of Corporate Performance Objectives that will apply to determine any aspect of a Participant’s Bonus Award,
the Committee shall assign the Corporate Performance Bonus Multiplier and Weighting Percentage to be used for each separate Corporate Performance Objective and/or separate level of Corporate Performance Objective, and the Participant’s
Aggregate Corporate Performance Bonus Multiplier shall be the sum of the products of (A) each Corporate Performance Bonus Multiplier assigned to the separate Corporate Performance Objective or separate level of Corporate Performance Objective
that must be achieved for the Bonus Period multiplied by (B) the Weighting Percentage the Committee assigned to that separate Corporate Performance Objective or separate level of Corporate Performance Objective. To the extent actual performance
falls between two Corporate Performance Bonus Multipliers assigned to the separate Corporate Performance Objective or separate level of Corporate Performance Objective that must be achieved for the Bonus Period, the Corporate Performance Bonus
Multiplier for that Corporate Performance Objective or level of Corporate Performance Objective shall be determined by straight line interpolation between the two Corporate Performance Bonus Multipliers. 

  
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 5.2 Calculation of Bonus Awards. 

(a) Timing of the Calculation. The calculations necessary to determine the Bonus Awards for the Bonus Period shall be made no later
than the fifteenth day of the third month following the end of the Bonus Period for which the Bonus Awards are to be calculated. Such calculation shall be carried out in accordance with this Section 5.2. 

(b) Calculations. Following the end of the Bonus Period, each Participant’s Bonus Award, if any, shall be calculated based on the
performance achieved for the Bonus Period. The Participant’s Bonus Award for the Bonus Period may be increased or decreased as the Committee in its sole discretion shall determine based on individual performance or such other factors as the
Committee determines to be appropriate. 
 (c) Determination. For purposes of the Bonus Awards, the Committee shall determine whether
and to what extent the Corporate Performance Objectives or levels of Corporate Performance Objectives have been achieved. 
  

	6.	 PAYMENT OF AWARDS 

6.1 Eligibility for Payment. Except as otherwise set forth in Sections 7.1, 8.1 or 9.11 of this Plan or as the Committee may otherwise
approve, Bonus Awards shall not be paid to any Participant who is not employed by an Employer on the last day of the Bonus Period with respect to which the Bonus Award has been determined, or any such later date on or before the date of the relevant
Bonus Award payment as determined by the Committee and communicated to Participants, and a Participant who terminates employment with all Employers prior to such date shall not be eligible to receive any Distribution for (i) the relevant Bonus
Period or (ii) any future Bonus Periods. Additionally, notwithstanding any other provision of the Plan, no Bonus Awards shall be paid to any Participant on and after the time the Participant is notified by the Employer that the
Participant’s employment is to be terminated involuntarily for Cause, whether the Bonus Award is payable with respect to any completed Bonus Period, the Bonus Period in which the Participant’s employment is terminated or any future Bonus
Period. 
 6.2 Timing of Payment. Any Distribution to be paid for a Bonus Period shall be paid no later than the 15th day of the third month following the end of the Bonus Period. 
 6.3 Payment of
Award. The amount of the Bonus Award to be paid pursuant to this Section 6 to a Participant shall be paid in one lump sum cash payment by the Employer. If the Participant dies before payment of the Bonus Award, the Bonus Award, to the
extent still payable, shall be paid to the Participant’s Beneficiary. 
 6.4 Taxes; Withholding. To the extent required by law,
the Employer shall withhold from all Distributions made hereunder any amount required to be withheld by Federal and state or local government or other applicable laws. Each Participant shall be responsible for satisfying in cash or cash equivalent
acceptable to the Committee any income and employment tax withholdings applicable to any Distribution to the Participant under the Plan. 
  

	7.	 CHANGE IN CONTROL 

7.1 Effect of Change in Control. If a Change in Control occurs, subject to Section 9.11 of the Plan, (i) Bonus Awards with
respect to any Bonus Period that ended prior to the Change in Control shall be determined based on actual business results achieved for the Bonus Period and (ii) Bonus Awards with respect to the Bonus Period in which the Change in Control
occurs shall be determined assuming the achievement of each applicable Corporate Performance Objective or level of Corporate Performance 

  
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Objective at the target level of achievement for the Bonus Period, except that (i) the Bonus Award for the Bonus Period that includes the Change in Control shall be based solely upon the
Participant’s Compensation for that Bonus Period through the date of the Change in Control and (ii) in case of Bonus Awards for any completed Bonus Period and the Bonus Period in which the Change in Control occurs, (A) the Committee
shall not exercise any discretion to decrease the Participant’s Preliminary Bonus Award and (B) the Participant need no longer remain employed with Newell and its Affiliates on or after the Change in Control. After a Change in Control,
Bonus Awards for any completed Bonus Period shall be paid at the normal time of the bonus payout but in no event later than the 15th day of the third month following the end of the Bonus Period.
Bonus Awards for the Bonus Period that includes the Change in Control shall be paid no later than the 15th day of the third month following the date of the Change in Control. 

 

	8.	 TERMINATION OF EMPLOYMENT 

8.1 Payment after Death, Disability and Retirement. If before a Change in Control occurs the Participant’s employment with all
Employers is terminated during the Bonus Period on account of the Participant’s death, Disability or Retirement, subject to Section 9.11 of the Plan, the Participant shall be entitled to receive for the Bonus Period that includes the date
of the Participant’s death, Disability or Retirement, the Bonus Award that would result based on actual business results for the entire Bonus Period, taking into account the Corporate Performance Objectives and levels of Corporate Performance
Objectives achieved during the Bonus Period, calculated on the same basis as other similarly-situated Participants, except that the Bonus Award for that Bonus Period shall be based solely upon the Participant’s Compensation for that Bonus
Period through the time of Participant’s death, Disability or Retirement. Each Participant described herein also shall be entitled to receive any Bonus Award payable for any Bonus Period that ended before the Participant’s death,
Disability or Retirement, on the same basis as the Bonus Award for the Bonus Period that includes the date of the Participant’s death, Disability or Retirement. Such Bonus Awards shall be paid at the normal time of the bonus payout as if the
Participant had remained employed but in no event later than the 15th day of the third month following the end of the Bonus Period. 

8.2 Payment after Termination of Employment Other Than on Account of Death, Disability or Retirement. If before a Change in
Control occurs the Participant’s employment with all Employers is terminated during the Bonus Period other than on account of the Participant’s death, Disability or Retirement, subject to Section 9.11 of the Plan, the Participant
shall not be entitled to receive a Bonus Award for the Bonus Period that includes the termination of the Participant’s employment other than on account of the Participant’s death, Disability or Retirement, unless the Committee specifically
approves otherwise. The Committee has the discretion to pay the Participant’s Bonus Award that would result based on actual business results for the entire Bonus Period (based solely upon the Participant’s Compensation for that Bonus
Period through the time of Participant’s termination of employment), or any portion thereof, notwithstanding the termination of the Participant’s employment during the Bonus Period other than on account of the Participant’s death,
Disability or Retirement. 
  

	9.	 MISCELLANEOUS 

9.1 Unsecured General Creditor. Participants and their beneficiaries, heirs, successors and assigns shall have no legal or equitable
rights, interests, or other claim in any property or assets of the Employer. Any and all assets shall remain general, unpledged, unrestricted assets of the Employer. The Employer’s obligation under the Plan shall be that of an unfunded and
unsecured promise to pay cash in the future, and there shall be no obligation to establish any fund, any security or any other restricted asset in order to provide for the payment of amounts under the Plan. 

  
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 9.2 Obligations to the Employer. If a Participant becomes entitled to a Distribution
under the Plan, and, if, at the time of the Distribution, such Participant has outstanding any debt, obligation or other liability representing an amount owed to any Employer, then the Employer may offset such amounts owing to it or any other
Employer against the amount of any Distribution. Such determination shall be made by the Committee. Any election by the Committee not to reduce any Distribution payable to a Participant shall not constitute a waiver of any claim for any outstanding
debt, obligation, or other liability representing an amount owed to the Employer. 
 9.3 Nonassignability. Neither a Participant nor
any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof,
which are, and all rights to which are, expressly declared to be unassignable and nontransferable. No part of a Distribution, prior to actual Distribution, shall be subject to seizure or sequestration for the payment of any debts, judgments, alimony
or separate maintenance owed by a Participant or any other person, nor shall it be transferable by operation of law in the event of the Participant’s or any other persons bankruptcy or insolvency, except as set forth in Section 9.2 above.

 9.4 Employment or Future Pay or Compensation Not Guaranteed. Nothing contained in this Plan nor any action taken hereunder shall
be construed as a contract of employment or as giving any Participant or any former Participant any right to be retained in the employ of an Employer or receive or continue to receive any rate of pay or other compensation, nor shall it interfere in
any way with the right of an Employer to terminate the Participant’s employment at any time without assigning a reason therefore. 

9.5 Gender, Singular and Plural. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, or
neuter, as the identity of the person or persons may require. As the context may require, the singular may be read as the plural and the plural as the singular. 

9.6 Captions. The captions to the articles, sections, and paragraphs of this Plan are for convenience only and shall not control or
affect the meaning or construction of any of its provisions. 
 9.7 Applicable Law. This Plan shall be governed and construed in
accordance with the laws of the State of Delaware. 
 9.8 Validity. In the event any provision of the Plan is held invalid, void, or
unenforceable, the same shall not affect, in any respect whatsoever, the validity of any other provision of the Plan. 
 9.9 Notice.
Any notice or filing required or permitted to be given to the Committee shall be sufficient if in writing and hand delivered, or sent by registered or certified mail, to the principal office of Newell, directed to the attention of the Committee.
Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. 

9.10 Compliance. No Distribution shall be made hereunder except in compliance with all applicable laws and regulations (including,
without limitation, withholding tax requirements), any listing agreement with any stock exchange to which Newell is a party, and the rules of all domestic stock exchanges on which Newell’s shares of capital stock may be listed. The Committee
shall have the right to rely on an opinion of its or Newell’s counsel as to such compliance. No Distribution shall be made hereunder unless the Employer has obtained such consent or approval as the Employer may deem advisable from regulatory
bodies having jurisdiction over such matters. 

  
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 9.11 Other Agreements; No Duplicate Payments. To the extent the Participant and the
Employer are parties to any other agreements or arrangements relating to the Participant’s employment that provide for payment(s) of any bonuses under this Plan on termination of employment, change in control or otherwise, this Plan and such
other agreements or arrangements shall be construed and interpreted so that (i) the Bonus Awards and Distributions payable under the Plan and such other agreements or arrangements are only paid once; it being the intent of this Plan not to
provide the Participant any duplicative payments of Bonus Awards, but that (ii) the Participant shall be entitled to receive the full benefits of both the Plan and such other agreements or arrangements; it being the intent of Newell and its
Affiliates to provide the Participant with the benefits of such other agreements or arrangements. To the extent a Participant is entitled to a bonus payment calculated under this Plan and under any other agreement or arrangement, which would result
in a duplicative payment of the Bonus Award or Distribution, no Bonus Award or Distribution will be payable hereunder if the payment under the other agreement or arrangement is not reduced by any duplicative payment under this Plan. To the extent a
Participant is entitled to a bonus payment or portion thereof calculated under this Plan under any other agreement or arrangement, which bonus payment or portion thereof is not otherwise payable under this Plan, the terms of such other agreement or
arrangement shall control and be given effect. 
 9.12 Confidentiality. The Participant may not discuss or disclose any terms of this
Plan or its benefits with anyone except for Participant’s attorneys, accountants and immediate family members who shall be instructed to maintain the confidentiality agreed to under this Plan, except as may be required by law. 

9.13 Temporary Leaves of Absence. The Committee in its sole discretion may decide to what extent leaves of absence for government or
military service, illness, temporary disability or other reasons shall, or shall not be, deemed an interruption or termination of employment. 

9.14 Compensation Recoupment Policy. Notwithstanding any other provision of this Plan, any Bonus Award received by the Participant
and/or cash paid hereunder, shall be subject to potential cancellation, recoupment, rescission, paycheck or other action in accordance with the terms of any Compensation Recoupment Policy Newell may adopt, and as it may be amended from time to time.
By acceptance of the Bonus Award, the Participant agrees and consents to Newell’s application, implementation and enforcement of (a) any such Compensation Recoupment Policy or any similar policy established by Newell or any Affiliate that
may apply to the Participant and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that Newell may take such actions as are necessary to effectuate the
Compensation Recoupment Policy, any similar policy (as applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the extent that the terms of this Plan and the Compensation Recoupment
Policy or any similar policy conflict, then the terms of such policy shall prevail. 
  

	10.	 AMENDMENT AND TERMINATION OF THE PLAN 

10.1 Amendment. Except as set forth in Section 10.3 below, the Committee in its sole discretion may at any time amend the Plan in
whole or in part. 

  
 10 

 10.2 Termination of the Plan. 

(a) Employer’s Right to Terminate. Except as set forth in Section 10.3 below, the Committee may at any time
terminate the Plan, if it determines in good faith that the continuation of the Plan is not in the best interest of Newell and its shareholders. No such termination of the Plan shall reduce any Distributions already made. 

(b) Payments upon Termination of the Plan. Upon the termination of the Plan under this Section 10.2, Awards for future Bonus
Periods shall not be made. With respect to the Bonus Period in which such termination takes place, the Employer will pay to each Participant the Participant’s Bonus Award, if any, for such Bonus Period, less any applicable withholdings, only to
the extent the Committee provides for any such payments on termination of the Plan (in which case all such payments will be made no later than the 15th day of the third month following the end of
the Bonus Period that includes the effective date of termination of the Plan). 
 10.3 Amendment or Termination after a Change in
Control. Notwithstanding any other provision of the Plan, the Committee may not amend or terminate the Plan in whole or in part, or change eligibility for participation in the Plan, on or after a Change in Control to the extent any such
amendment or termination, or change in eligibility for participation in the Plan, would adversely affect the Participants’ rights hereunder or result in Bonus Awards not being paid consistent with the terms of the Plan in effect prior to such
amendment or termination for the Bonus Period in which the amendment or termination of the Plan takes place and any prior Bonus Period. 
  

	11.	 COMPLIANCE WITH SECTION 409A 

11.1 Tax Compliance. This Plan is intended to be exempt from the applicable requirements of Section 409A of the Code and shall be
construed and interpreted in accordance therewith. The Committee may at any time amend, suspend or terminate this Plan, or any payments to be made hereunder, as necessary to be exempt from Section 409A of the Code. Notwithstanding the
preceding, no Employer shall be liable to any Employee or any other person if the Internal Revenue Service or any court or other authority having jurisdiction over such matter determines for any reason that any Bonus Award or Distribution to be made
under this Plan is subject to taxes, penalties or interest as a result of failing to comply with Section 409A of the Code. The Distributions under the Plan are intended to satisfy the exemption from Section 409A of the Code for
“short-term deferrals.” 
  

	12.	 CLAIMS PROCEDURES 

12.1 Filing of Claim. If a Participant becomes entitled to a Bonus Award or a Distribution has otherwise become payable, and the
Participant has not received the benefits to which the Participant believes he is entitled under such Bonus Award or Distribution, then the Participant must submit a written claim for such benefits to the Committee within ninety (90) days of
the date the Bonus Award would have become payable (assuming the Participant is entitled to the Bonus Award) or the claim will be forever barred. 

12.2 Appeal of Claim. If a claim of a Participant is wholly or partially denied, the Participant or his duly authorized representative
may appeal the denial of the claim to the Committee. Such appeal must be made at any time within thirty (30) days after the Participant receives written notice from the Committee of the denial of the claim. In connection therewith, the
Participant or his duly authorized representative may request a review of the denied claim, may review pertinent documents and may submit issues and comments in writing. Upon receipt of an appeal, the Committee shall make a decision with respect to
the appeal and, not later than sixty (60) days after receipt of such request for review, shall furnish the Participant with a decision on review in writing, including the specific reasons for the

  
 11 

 
decision, as well as specific references to the pertinent provisions of the Plan upon which the decision is based. Notwithstanding the foregoing, if the Committee has not rendered a decision on
appeal within sixty (60) days after receipt of such request for review, the Participant’s appeal shall be deemed to have been denied upon the expiration of the sixty (60)-day review period. 

12.3 Final Authority. The Committee has discretionary and final authority under the Plan to determine the validity of any claim.
Accordingly, any decision the Committee makes on the Participant’s appeal shall be final and binding on all parties. If a Participant disagrees with the Committee’s final decision, the Participant may bring suit, but only after the claim
on appeal has been denied or deemed denied. Any such lawsuit must be filed within ninety (90) days of the Committee’s denial (or deemed denial) of the Participant’s claim or the claim will be forever barred. 

  
 12Exhibit 10.1

 

PROMISSORY NOTE

 

	$__________	February ___, 2021

 

FOR VALUE RECEIVED, KLUSMAN
FAMILY HOLDINGS, LLC, an Arizona limited liability company with an address of 2701 E. Camelback Road, Ste. 180, Phoenix, AZ 85016
(“Maker”), agrees and promises to pay to the order of CHEE CORP., a Nevada corporation with an address of 1206
E. Warner Rd, Suite 101-I, Gilbert, AZ 85296 (“Holder”), the sum of __________________ ($__________), with such
amount payable to Holder at the address set forth above, or at such other place as Holder may designate.

 

1.                  
Interest. This promissory note (this “Note”) bears simple interest
at the rate of ten percent (10%) per annum. No interest payments are due until the Maturity Date.

 

2.                  
Payments. The entire balance of this Note is due and payable on or before June 30,
2021 (the “Maturity Date”). Maker may prepay all or any portion of this Note at any time without penalty.

 

3.                  
Security. This Note is unsecured.

 

4.                  
Use of Proceeds. The amount advanced by Holder to Maker, the repayment obligation of
which is evidenced by this Note, shall be used by Maker exclusively toward the purchase of real property located at __________________.

 

5.                  
Default. The existence or occurrence of any one or more of the following will constitute
an “Event of Default” under this Note:

 

4.1             Non-Performance. Maker’s
failure to comply timely and fully with any of the terms or provisions of this Note, including, without limitation, the
failure to pay all amounts due within ten (10) days after the due date.

 

4.2             Bankruptcy; Insolvency. Maker being insolvent by
being unable to pay debts when due or by having liabilities in excess of assets; or Maker committing an act of bankruptcy,
making a general assignment for the benefit of creditors, or the filing by or against Maker of a voluntary or involuntary
petition in bankruptcy or for the appointment of a receiver (and any involuntary petition is not dismissed within thirty (30)
days from the filing thereof); or if there commences under any law relating to bankruptcy, insolvency, reorganization or
relief of debtors, proceedings affecting any significant part of Maker’s property or for the composition, extension,
arrangement, or adjustment of any of their respective obligations; or if a writ of attachment, execution, or any similar
process is issued or levied against any significant part of Maker’s property that is not released, stayed, bonded, or
vacated within a reasonable time after its issue or levy.

 

6.                  
Default Interest. Upon the occurrence of an Event of Default, Holder shall be entitled
to receive and Maker shall pay interest on the entire unpaid principal balance at a rate (the “Default Rate”)
equal to fifteen percent (15%) per annum. The Default Rate shall be computed from the occurrence of the Event of Default until
payment in full. This clause, however, shall not be construed as an agreement or privilege to extend the Maturity Date, nor as
a waiver of any other right or remedy accruing to Holder by reason of the occurrence of any Event of Default.

 

7.                  
Acceleration. In addition to all other rights and remedies at law and/or equity Holder
may have if an Event of Default occurs, Holder, at its option without further notice to Maker, may declare immediately due and
payable the unpaid principal balance of this Note together with all other sums owed by Maker under this Note.

 

    	 1

    	 

    

 

8.                  
Notices. All notices that Holder or Maker is required or permitted to give under this
Note shall be delivered to the addresses of Maker and Holder as set forth in the opening paragraph.

 

9.                  
Severability. If any term or provision of this Note is, to any extent,
determined by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Note will not be affected,
and the invalid or enforceable term or provision will be reduced or otherwise modified by the court or authority only to the minimum
extent necessary to make it valid and enforceable. If any term or provision cannot be reduced or modified to make it reasonable
and permit its enforcement, it will be severed from this Note and the remaining terms will be interpreted in a way as to give maximum
validity and enforceability to this Note. It is the intention of Maker that, if any provision of this Note is capable of two constructions,
one of which would render the provisions void and the other of which would render the provisions valid, then the provision will
have the meaning that renders it valid.

 

10.              
Time of the Essence. Time is of the essence of this Note. Whenever
notice must be given, payment made, document delivered, or an act done under this Note on a day that is not a Business Day, the
notice may be given, payment made, document delivered, or act done on the next following day that is a Business Day. “Business
Day” means a day other than a Saturday, Sunday, or a day observed as a legal holiday by the United States government
or the State of Arizona.

 

11.              
Governing Law; Jurisdiction and Venue. This Note is to be governed
by and interpreted in accordance with the laws of the State of Arizona. Any legal action or proceeding with respect to this Note
or any document related hereto shall be brought in Maricopa County, Arizona in any court of competent jurisdiction, and, by execution
and delivery of this Note, Maker and the Holder hereby accept the jurisdiction and venue of such courts.

 

12.              
Successors and Assigns. This Note shall be binding upon and inure to
the benefit of Maker and Holder and their respective successors and permitted assigns. Maker may not voluntarily or involuntarily
transfer, convey, or assign this Note, or any of its duties or obligations hereunder, without Holder’s prior written consent,
which may be withheld for any reason, or for no reason at all. As used herein, the term “Holder” means and includes
the successors and permitted assigns of the Holder.

 

13.              
Absolute Obligation. Except as expressly provided herein, no provision
of this Note shall alter or impair the obligation of Maker, which is absolute and unconditional, to pay the principal amount and
accrued interest of this Note at the time, place, and rate, and in the currency, herein prescribed. This Note is a direct debt
obligation of Maker.

 

14.              
Attorneys’ Fees and Costs. Each party shall bear its own expenses
in connection with the issuance of this Note; provided, however, that if any action at law or in equity is necessary to enforce
or interpret the terms of this Note, the prevailing party shall be entitled to its reasonable attorneys’ fees, costs, and
disbursements in addition to any other relief to which such party may be entitled.

 

15.              
No Waiver by Holder. No delay or failure of
Holder in exercising any right hereunder shall affect such right, nor shall any single or partial exercise of any right preclude
further exercise thereof.

 

(Signature
Page Follows)

 

 

    	 2

    	 

    

 

	 	 MAKER

Klusman
Family Holdings, LLC, 

an
Arizona limited liability company

 

By:
                                                                        

Name:                                                                 

Its:                                                                      

 

  

 

 

 

    	 3

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