Document:

EX-10.1

Exhibit 10.1

	 	 	 	 	 
	October 18, 2006

	 	

	 	

	 
	 	 	 	 
	To the Lenders parties to the
	 	 
	 
	 	 	 	 
	Credit Agreement referred
	 	 
	 
	 	 	 	 
	to below

	 	

Re:
	 	

Request for Extension of Commitment Termination Date

Ladies and Gentlemen:

Pursuant to that certain Five Year Credit Agreement, dated as of December 16, 2005 (as amended
or modified from time to time, the “Credit Agreement,” terms defined therein and not
otherwise defined herein being used herein as defined therein), among Rohm and Haas Company, a
Delaware corporation (the “Company”), the Lenders (as defined in the Credit Agreement)
parties thereto, Citibank, N.A., as agent for the Lenders (the “Agent”), Citigroup Global
Markets Inc., as sole lead arrangers and bookrunner, and Bank of America, N.A., JPMorgan Chase
Bank, N.A. and Wachovia Bank, National Association, as co-syndication agents, the Company hereby
requests that the Termination Date be extended for a period of one year from the Termination Date
now in effect, as provided in Section 2.17(a) of the Credit Agreement.

The Company hereby certifies that the following statements are true on the date hereof, and
will be true on the Extension Date:

(1) the representations and warranties contained in Section 4 of the Credit Agreement,
as amended, are true in all material respects on and as of the date of the Commitment
Extension, before and after giving effect to the requested extension, with the same force
and effect as though made on and as of such date, provided that the term “Disclosed
Litigation” includes all such matters disclosed by the Company on its Forms 10-K, 10-Q and
8-K that were filed prior to the date hereof; and

(2) no Default has occurred and is continuing, or would result from the requested
extension.

The Company also requests that the Required Lenders approve the following amendment to the
second sentence of Section 4.01(i) of the Credit Agreement, effective as of the date hereof:

The second sentence of Section 4.01(i) of the Credit Agreement is amended by inserting
immediately after the parenthetical phrase “(other than the Borrower’s Bristol, Pennsylvania and
Cincinnati, Ohio facilities, which are adjacent to such properties)” and before the semicolon the
phrase “which listing or proposal for listing could reasonably be expected to have, during the term
of this Agreement, a material adverse effect (i) on the Consolidated financial position or
Consolidated cash flows of the Company over an extended period of time (it being understood that
there could be a material adverse effect on the Consolidated results of operations in any given
year because of the Company’s obligation to record the full projected cost of an environmental
remediation project when such costs are probable and reasonably estimable), (ii) on the rights and
remedies of the Agent or any Lender under this Agreement or any Note or (iii) on the ability of any
Borrower to perform its obligations under this Agreement or any Note”.

The foregoing amendment shall be effective when such amendment is approved by the Required
Lenders, and is subject to Section 9.01 of the Credit Agreement.

This notice is subject in all respects to the terms of the Credit Agreement, is irrevocable and
shall be effective only if received by the Agent no later than November 24, 2006.

This notice and request is subject in all respects to the terms of the Credit Agreement, is
irrevocable and shall be effective only if received by the Agent no later than October 30, 2006.

ROHM AND HAAS COMPANY

By

Name: Edward E. Liebert

Title: Treasurer

1

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	__________, 2006	 
	Citibank, N.A.,
as Agent
Two Penns Way
New Castle, Delaware 19720
Attention:
	 	Bank Loan Syndications
	 	 	 	 

Rohm and Haas Company

Ladies and Gentlemen:

Reference is made to the Five Year Credit Agreement dated as of December 16, 2005 (as amended
or modified from time to time, the “Credit Agreement”) among Rohm and Haas Company, a
Delaware corporation, the Lenders (as defined in the Credit Agreement), Citibank, N.A., as agent
for the Lenders (the “Agent”), Citigroup Global Markets Inc., as sole lead arrangers and
bookrunner, and Bank of America, N.A., JPMorgan Chase Bank, N.A. and Wachovia Bank, National
Association, as co-syndication agents. Terms defined in the Credit Agreement are used herein with
the same meaning unless otherwise defined herein.

Pursuant to Section 2.16(a) of the Credit Agreement, the Lender named below hereby notifies
the Agent as follows:

[The Lender named below desires to extend the Termination Date with respect to its
Commitment for a period of one year, to December 16, 2011.]

[The Lender named below desires to extend the Termination Date with respect to its
Commitment for a period of one year, to December 16, 2011 and offers to increase its
Commitment to a maximum aggregate amount of $     .]

[The Lender named below does NOT desire to extend the Termination Date with respect
to any of its Commitment for a period of one year.]

Pursuant to Section 9.01 of the Credit Agreement, the Lender named below hereby approves the
following amendment to the Credit Agreement, effective as of October      , 2006:

The second sentence of Section 4.01(i) of the Credit Agreement is amended by inserting
immediately after the parenthetical phrase “(other than the Borrower’s Bristol, Pennsylvania and
Cincinnati, Ohio facilities, which are adjacent to such properties)” and before the semicolon the
phrase “which listing or proposal for listing could reasonably be expected to have, during the term
of this Agreement, a material adverse effect (i) on the Consolidated financial position or
Consolidated cash flows of the Company over an extended period of time (it being understood that
there could be a material adverse effect on the Consolidated results of operations in any given
year because of the Company’s obligation to record the full projected cost of an environmental
remediation project when such costs are probable and reasonably estimable), (ii) on the rights and
remedies of the Agent or any Lender under this Agreement or any Note or (iii) on the ability of any
Borrower to perform its obligations under this Agreement or any Note”.

The foregoing amendment shall be effective when such amendment is approved by the Required
Lenders, and is subject to Section 9.01 of the Credit Agreement.

This notice and consent is subject in all respects to the terms of the Credit Agreement, is
irrevocable and shall be effective only if received by the Agent no later than November 24, 2006.

Very truly yours,

[NAME OF LENDER]

By:

Name:

Title:

2EX-10.1

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT, made as of August 15, 2005 (the “Commencement Date”) by and between,
Jacuzzi Brands, Inc., a Delaware corporation, with its principal office at Phillips Point – West
Tower, 777 South Flagler Drive, Suite 1108, West Palm Beach, Florida 33401 (the “Company”), and
Marie S. Dreher (“Executive”).

W I T N E S S E T H:

WHEREAS, the Company desires to employ Executive as Senior Vice President, Corporate
Development and Strategy and Executive desires to enter into such employment; and

WHEREAS, the Company and Executive desire to enter into this agreement (the “Agreement”) as to
the terms of Executive’s employment as Senior Vice President, Corporate Development and Strategy by
the Company.

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the parties agree as follows:

1. Definitions.

(a) “Accrued Amounts” means any compensation earned but not yet paid, including and without
limitation, any declared but unpaid bonus, any amount of Base Salary or deferred compensation
accrued or earned but unpaid, any accrued vacation pay payable pursuant to the Company’s policies
and any unreimbursed business expenses payable pursuant to Section 7.

(b) “Cause” means (i) Executive’s refusal or willful failure to perform Executive’s duties;
(ii) Executive’s willful misconduct or gross negligence with regard to the Company or its
affiliates or their business, assets or employees (including, without limitation, Executive’s
fraud, embezzlement or other act of dishonesty with regard to the Company or its affiliates); (iii)
Executive’s willful misconduct which has a material adverse impact on the Company or its
affiliates, whether economic, or reputation wise or otherwise, as determined by the Board; (iv)
Executive’s conviction of, or pleading nolo contendere to, a felony or any crime involving fraud,
dishonesty or moral turpitude; (v) Executive’s refusal or willful failure to follow the lawful
written direction of the Board; (vi) Executive’s breach of a fiduciary duty owed to the Company or
its affiliates, including but not limited to Section 10 hereof; (vii) the representations or
warranties in Section 13(k) hereof prove false; or (vii) any other breach by Executive of this
Agreement that remains uncured for ten (10) days after written notice thereof is given to
Executive.

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

(d) “Disability” means, the Executive (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than 12
months, or (ii) is, by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous period of not less
than 12 months, receiving income replacement benefits for a period of not less than 3 months under
an accident and health plan (long-term disability plan) covering employees of the participant’s
employer.

(e) “Good Reason” means the occurrence, without Executive’s express written consent, of any of
the following circumstances: (i) any material demotion of Executive on or after the Commencement
Date from Executive’s position as Senior Vice President (except in connection with the termination
of Executive’s employment for Cause or due to Disability or as a result of Executive’s death, or
temporarily as a result of Executive’s illness or other absence); (ii) a failure by the Company to
pay Executive’s Base Salary in accordance with Section 3 hereof; or (iii) with regard to a
Relocation (as defined below), a failure of the Company to provide Executive with a relocation
program that is at least as favorable in aggregate as the Relocation Program set forth in Exhibit A
hereof. For purposes of the foregoing, Relocation shall mean a relocation of Executive’s office by
the Company, at any time during the Employment Term, to a location more than thirty-five (35) miles
further than Executive’s then current principal residence is from Executive’s then office.

2. Term Employment. Except for earlier termination as provided in Section 8 hereof,
Executive’s employment under this Agreement shall be for a one-year term (the “Employment Term”)
commencing on the Commencement Date and ending one (1) year thereafter. Subject to Section 8
hereof, the Employment Term shall be automatically extended for additional terms of successive one
(1) year periods unless the Company or Executive gives written notice to the other at least sixty
(60) days prior to the expiration of the then current Employment Term of the termination of
Executive’s employment hereunder at the end of such current Employment Term.

3. Positions.

(a) Effective on the Commencement Date, Executive shall serve as a senior executive of the
Company, as Senior Vice President, Corporate Development and Strategy. If requested by the Board
or Directors of the Company (the “Board”) or the Chief Executive Officer of the Company, Executive
shall also serve as an executive officer and director of subsidiaries and a director of associated
companies of the Company without additional compensation and subject to any policy of the
Compensation Committee of the Company’s Board (the “Compensation Committee”) with regard to
retention or turnover of the director’s fees.

(b) Executive shall have such duties and authority, consistent with Executive’s then position
as shall be assigned to her from time to time by the Board, the Chief Executive Office of the
Company, or her designee.

(c) During the Employment Term, Executive shall devote all of Executive’s business time and
efforts to the performance of Executive’s duties hereunder; provided, however, that Executive shall
be allowed, to the extent that such activities do not materially interfere with the performance of
Executive’s duties and responsibilities hereunder, to manage Executive’s personal interests and to
serve on civic or charitable boards or committees, and subject to the next sentence, serve on
corporate boards of directors. Executive may serve on corporate boards of directors only if
approved in advance by the Board (which approval may be withdrawn at any time) and shall not serve
on any corporate board of directors if such service would be inconsistent with Executive’s
fiduciary responsibilities to the Company.

4. Compensation.

(a) Base Salary. The Company shall pay Executive a base salary at the annual rate of
not less than the annual rate of $280,000, which is the current base salary in effect on the
Commencement Date. Base salary shall be payable in accordance with the usual payroll practices of
the Company. Executive’s base salary shall be reviewed annually in December by the Board or the
Compensation Committee during the period of the Employment Term and may be increased, but not
decreased, from time to time by the Board or the Compensation Committee, except that, prior to a
Change in Control, it may be decreased proportionately in connection with an across the board
decrease generally applying to senior executives of the Company. The base salary as determined as
aforesaid from time to time shall constitute “Base Salary” for purposes of this Agreement.

(b) Housing Allowance and Relocation. The Company shall provide Executive with a
housing allowance in the amount of $3,500 per month, for the first 12 months of the Employment
Term. For purposes of paragraph 1(e) of this Agreement Executive’s residence during the first 12
months of the Employment Term shall be deemed her principal residence. In the event Executive
remains employed by the Company upon the conclusion of the first 12 months of the Employment Term,
the Company will make benefits under the Relocation Program, described in Exhibit A, available to
Executive.

5. Incentive Compensation.

(a) Bonus. For the fiscal year commencing on or about October 1, 2004 or portion
thereof Executive shall receive a guaranteed bonus of $15,000, payable no later than December 15,
2005. For each fiscal year thereafter, during the Employment Term, Executive shall be eligible to
participate in an incentive bonus plan of the Company in accordance with, and subject to, the terms
of such plan, that provides an annualized cash target bonus opportunity equal to at least 70% of
Base Salary (the “Target Bonus”).

(b) Restricted Stock. Effective as of the date of this Agreement, the Company shall
grant Executive 25,000 restricted shares of common stock of the Company (“Restricted Stock”).
Except as otherwise provided in this Agreement, 8,333 shares of the Restricted Stock shall be
nonforfeitable on the first anniversary of the date of this Agreement; 16,666 shares of the
Restricted Stock shall be nonforfeitable on the second anniversary of the date of this Agreement
and 25,000 shares of the Restricted Stock shall be nonforfeitable on the third anniversary of the
date of this Agreement (three year vesting in equal installments). The Restricted Stock shall be
granted pursuant to the Jacuzzi Brands, Inc. 2004 Stock Incentive Plan and shall be evidenced by a
Restricted Stock Agreement. Executive shall be granted additional shares of Restricted Stock
pursuant to the Jacuzzi Brands, Inc. 2004 Stock Incentive Plan on the same basis as other similarly
situated executives.

(c) Other Compensation. The Company may, upon recommendation of the Compensation
Committee, award to Executive such other bonuses and compensation as it deems appropriate and
reasonable.

6. Employee Benefits and Vacation.

(a) During the Employment Term, Executive shall be entitled to participate in all pension,
long-term incentive compensation, retirement, savings, welfare and other employee benefit plans and
arrangements and fringe benefits and perquisites generally maintained by the Company from time to
time for the benefit of senior executive officers of the Company of a comparable level in each case
in accordance with their respective terms as in effect from time to time.

(b) During the Employment Term, Executive shall be entitled to vacation each year in
accordance with the Company’s policies in effect from time to time, but in no event less than four
(4) weeks paid vacation per calendar year. Executive shall also be entitled to such periods of
sick leave as is customarily provided by the Company to its senior executive employees.

7. Business Expenses. The Company shall reimburse Executive for the travel,
entertainment and other business expenses incurred by Executive in the performance of Executive’s
duties hereunder, in accordance with the Company’s policies as in effect from time to time.

8. Termination.

General. The employment of Executive and the Employment Term shall terminate as
provided in Section 2 hereof or, if earlier, upon a termination in accordance with this Section.
The Company or the Executive may terminate this Agreement at any time, subject to the provisions
hereof. All amounts payable hereunder shall be promptly paid when due to Executive or Executive’s
estate (whichever is applicable).

(a)

(b) Death, Disability, Voluntary Resignation without Good Reason, for Cause, or
Non-extension of the Employment Term by the Executive.

(i) The Executive’s employment shall terminate upon the death of the Executive.

(ii) If Executive incurs a Disability, the Company may terminate Executive’s employment for
Disability by providing Executive thirty (30) days written notice setting forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination for Disability at any
time thereafter during such twelve (12) month period while Executive is unable to carry out
Executive’s duties as a result of the same Disability or related physical or mental illness or
incapacity. Such termination shall not be effective if Executive returns to the full time
performance of Executive’s essential functions with or without reasonable accommodation within such
thirty (30) day period.

(iii) Executive may terminate employment without Good Reason upon sixty (60) days prior
written notice.

(iv) Executive’s employment hereunder may be terminated by the Company for Cause by giving
Executive a written notice which shall indicate the specific termination provision relied upon and
shall set forth in reasonable detail the facts and circumstances which provide for a basis for a
termination for Cause. The date of termination for Cause shall be the date indicated in such
notice. Any purported termination for Cause which is held by a court not to have been based on the
grounds set forth in this Agreement or not to have followed the procedures set forth in this
Agreement shall be deemed a termination by the Company without Cause.

(v) If Executive’s employment is terminated during the Employment Term by reason of
Executive’s death, Disability, voluntary resignation without Good Reason, for Cause, or
nonextension of the Employment Term by the Executive, the Employment Term under this Agreement
shall terminate without further obligations to the Executive’s legal representatives under this
Agreement except that the Executive or Executive’s estate (whichever is applicable) shall be
entitled to receive:

1. Accrued Amounts; and

2. subject to Section 9 hereof, any other amounts or benefits owing to Executive under the
then applicable employee benefit plans or policies of the Company, which shall be paid in
accordance with such plans or policies.

(c) Termination for Good Reason, Without Cause or by Nonextension of this Agreement by the
Company.

(i) The Executive may terminate employment for Good Reason at any time within ninety (90) days
after the occurrence of a Good Reason event by providing the Company with written notice that shall
indicate the specific Good Reason event relied upon, set forth in reasonable detail the facts and
circumstances claimed to provide a basis for a termination for Good Reason and provide a proposed
date of termination which shall not occur fewer than ten (10) nor more than sixty (60) days after
the delivery of such notice, provided however, that the Executive may not terminate employment for
Good Reason if the Good Reason event is fully corrected prior to the date of termination specified
in such notice. The failure by Executive to set forth in such notice any facts or circumstances
which contribute to the showing of Good Reason shall not waive any right of Executive hereunder or
preclude Executive from asserting such fact or circumstance in enforcing Executive’s rights
hereunder.

(ii) The Company may terminate the Executive’s employment at any time without Cause or by
nonextension of this Agreement by giving Executive sixty (60) days prior written notice.

(iii) If Executive terminates her employment hereunder for Good Reason, Executive’s employment
with the Company is terminated by the Company without Cause or Executive’s employment with the
Company terminates as a result of the Company giving notice of nonextension of the Employment Term,
Executive shall be entitled to the following:

1. a lump sum payment equal to her Base Salary;

2. health and dental coverage for the Executive and her dependents until December 31, 2007
under the Company’s health plans which cover the senior executives of the Company or materially
similar benefits. Payments under this paragraph 8(c)(iii)(2) may at the discretion of the Company
be made by continuing participation of Executive in the plan as a terminee, by paying the
applicable COBRA premium for Executive and her dependents, or by covering Executive and her
dependents under substitute arrangements;

3. the Accrued Amounts; and

4. subject to Section 9 hereof, any other amounts or benefits due Executive under the then
applicable employee benefit plans of the Company as shall be determined and paid in accordance with
such plans, policies and practices.

(d) Other.

(i) If (A) Executive’s employment with the Company is terminated by the Executive for Good
Reason, the Company due to elimination by the Company of the position of Senior Vice President,
Corporate Development and Strategy, or the Company without cause, and (B) if such termination is
made without a good faith determination made by the Board that the Executive has not been
successfully performing and completing her duties as assigned to her by the Board and the Chief
Executive Officer of the Company, then

1. the 25,000 shares of Restricted Stock referred to in paragraph 5(b) of this Agreement, that
have not become vested prior to the date of the termination, shall become vested on the date of
Executive’s termination; and

2. the Executive shall receive a bonus in the amount determined by multiplying the amount of
the bonus Executive would have been entitled to receive had she remained in the Company’s
employment for the remainder of the period with respect to which the bonus is granted (“Bonus
Period”), by the ratio determined by dividing X , the amount of days in the Bonus Period that
Executive is employed with the Company, by Y, the total amount of days in the Bonus Period, payable
at the time the bonus would have otherwise been paid if Executive’s employment had not been
terminated.

The decision by the Board to make or not to make the determination referred to in the previous
sentence shall be final, conclusive and binding.

(ii) If Executive’s employment with the Company is terminated for any reason other than for
Cause, Executive will be deemed to have satisfied the 5 year vesting requirement referred to in
Sections 3.4 and 4.4 of the Company’s Supplemental Retirement Plan (the “Plan”). Notwithstanding
any other provision of this Agreement, no provision of this Agreement shall be interpreted as in
any way increasing the number of years of Credited Service (as defined in the Plan) that Executive
is entitled to for purposes of benefit accruals under the terms of the Plan.

9. No Mitigation; No Set-Off.

(a) In the event of any termination of employment under Section 8, Executive shall be under no
obligation to seek other employment and there shall be no offset against any amounts due Executive
under this Agreement on account of any remuneration attributable to any subsequent employment that
Executive may obtain. Any amounts due, except for the Accrued Amounts outlined in paragraph 8 (d)
(iii), under Section 8 are in the nature of severance payments and are not in the nature of a
penalty. Such amounts are inclusive, and in lieu of any, amounts payable under any other salary
continuation or cash severance arrangement of the Company and to the extent paid or provided under
any other such arrangement shall be offset from the amount due hereunder.

(b) Executive agrees that, as a condition to receiving the payments and benefits provided
under this Agreement Executive will execute, deliver and not revoke (within the time period
permitted by applicable law) a release of all claims of any kind whatsoever against the Company,
its affiliates, officers, directors, employees, agents and shareholders in the then standard form
being used by the Company for senior executives (but without release of the right of
indemnification hereunder or under the Company’s By-laws or rights under benefit or equity plans
that by their terms are intended to survive termination of Executive’s employment).

(c) Upon any termination of employment, Executive hereby resigns as an officer and director of
the Company, any subsidiary and any affiliate and as a fiduciary of any benefit plan of any of the
foregoing. Executive shall promptly execute any further documentation thereof as requested by the
Company and, if the Executive is to receive any payments from the Company, execution of such
further documentation shall be a condition thereof.

10. Covenants Against Disclosure, Solicitation and Competition. 

(a) Executive acknowledges that as a result of Executive’s employment by the Company,
Executive will obtain secret and confidential information as to the Company and its affiliates and
create relationships with customers, suppliers and other persons dealing with the Company and its
affiliates and the Company and its affiliates will suffer substantial damage, which would be
difficult to ascertain, if Executive should use such confidential information or take advantage of
such relationship and that because of the nature of the information that will be known to Executive
and the relationships created it is necessary for the Company and its affiliates to be protected by
the prohibition against Competition as set forth herein, as well as the confidentiality
restrictions set forth herein.

(b) Executive acknowledges that the retention of nonclerical employees employed by the Company
and its affiliates in which the Company and its affiliates have invested training and depends on
for the operation of their businesses is important to the businesses of the Company and its
affiliates, that Executive will obtain unique information as to such employees as an executive of
the Company and will develop a unique relationship with such persons as a result of being an
executive of the Company and, therefore, it is necessary for the Company and its affiliates to be
protected from Executive’s Solicitation of such employees as set forth below.

(c) Executive acknowledges that the provisions of this Agreement are reasonable and necessary
for the protection of the businesses of the Company and its affiliates and that part of the
compensation paid under this Agreement and the agreement to pay severance in certain instances is
in consideration for the agreements in this Section.

(d) “Competition” means participating, directly or indirectly, as an individual proprietor,
partners, stockholder, officer, employee, director, joint venturer, investor, lender, consultant or
in any capacity whatsoever (within the United States of America, or in any country where the
Company or its affiliates do business) in a business in meaningful competition with the Company’s
businesses, provided, however, that such participation shall not include (i) the mere ownership of
not more than one percent (1%) of the total outstanding stock of a publicly held company; or (ii)
any activity engaged in with the prior written approval of the Board.

(e) “Solicitation” means recruiting, soliciting or inducing, of any nonclerical employee or
employees of the Company or its affiliates to terminate their employment with, or otherwise cease
their relationship with, the Company or its affiliates or hiring or assisting another person or
entity to hire any nonclerical employee of the Company or its affiliates or any person who within
six (6) months before had been a nonclerical employee of the Company or its affiliates and were
recruited or solicited for such employment or other retention while an employee of the Company,
provided, however, that solicitation shall not include any of the foregoing activities engaged in
with the prior written approval of the Board.

(f) If any restriction set forth with regard to Competition or Solicitation is found by any
court of competent jurisdiction, or an arbitrator, to be unenforceable because it extends for too
long a period of time or over too great a range of activities or in too broad a geographic area, it
shall be interpreted to extend over the maximum period of time, range of activities or geographic
area as to which it may be enforceable. If any provision of this Section shall be declared to be
invalid or unenforceable, in whole or in part, as a result of the foregoing, as a result of public
policy or for any other reason, such invalidity shall not affect the remaining provisions of this
Section which shall remain in full force and effect.

(g) During and after employment with the Company, Executive shall hold in a fiduciary capacity
for the benefit of the Company and its affiliates all secret or confidential information, knowledge
or data relating to the Company and its affiliates, and their respective businesses, including any
confidential information as to customers of the Company and its affiliates, (i) obtained by
Executive during Executive’s employment by the Company and its affiliates and (ii) not otherwise
public knowledge or known within the applicable industry. Executive shall not, without prior
written consent of the Company, unless compelled pursuant to the order of a court or other
governmental or legal body having jurisdiction over such matter, communicate or divulge any such
information, knowledge or data to anyone other than the Company and those designated by it. In the
event Executive is compelled by order of a court or other governmental or legal body to communicate
or divulge any such information, knowledge or data to anyone other than the foregoing, Executive
shall promptly notify the Company of any such order and Executive shall cooperate fully with the
Company in protecting such information to the extent possible under applicable law.

(h) Upon termination of Executive’s employment with the Company and its affiliates, or at any
time as the Company may request, Executive shall promptly deliver to the Company, as requested, all
documents (whether prepared by the Company, an affiliate, Executive or a third party) relating to
the Company, an affiliate or any of their businesses or property which Executive may possess or
have under Executive’s direction or control other than documents provided to Executive in
Executive’s capacity as a participant in any employee benefit plan, policy or program of the
Company or any agreement by and between Executive and the Company with regard to Executive’s
employment or severance.

(i) During the period the Executive is employed by the Company and for one (1) year following
a termination of Executive’s employment for any reason whatsoever, Executive shall not engage in
Solicitation, and shall not enter into Competition with the Company or its affiliates.

(j) In the event of a breach or potential breach of this Section, Executive acknowledges that
the Company and its affiliates will be caused irreparable injury and that money damages may not be
an adequate remedy and agree that the Company and its affiliates shall be entitled to injunctive
relief (in addition to its other remedies at law) to have the provisions of this Section enforced.
It is hereby acknowledged that the provisions of this Section are for the benefit of the Company
and all of the affiliates of the Company and each such entity may enforce the provisions of this
Section and only the applicable entity can waive the rights hereunder with respect to its
confidential information and employees.

(k) In the event of breach, as adjudicated by a court of competent jurisdiction, of this
Section by Executive, while Executive is receiving amounts under this Agreement, (i) Executive
shall not be entitled to receive any future amounts pursuant to this Agreement, and (ii)
Executive shall be obligated to return to the Company, within 10 days of such adjudication, all
amounts paid by the Company pursuant to this Agreement on or after the date of the breach.

(l) Executive specifically agrees that the restrictive covenants and other provisions of this
Section 5 shall be enforceable by the Company’s successors and/or assigns.

11. Indemnification. The Company shall indemnify and hold harmless Executive to the
extent provided in the Certificate of Incorporation and By-Laws of the Company for any action or
inaction of Executive while serving as an officer and director of the Company or, at the Company’s
request, as an officer or director of any other subsidiary or affiliate of the Company or as a
fiduciary of any benefit plan. The Company shall cover Executive under directors and officers’
liability insurance both during and, while potential liability exists, after the Employment Term in
the same amount and to the same extent as the Company covers its other officers and directors.

12. Legal and Other Fees and Expenses. In the event that a claim for payment or
benefits under this Agreement is disputed, the Company shall pay all reasonable attorney,
accountant and other professional fees and reasonable expenses incurred by Executive in pursuing
such claim, provided Executive is successful with regard to a material portion of Executive’s
claim.

13. Miscellaneous.

(a) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Florida without reference to principles of conflict of laws.

(b) Entire Agreement/Amendments. This Agreement and the instruments contemplated
herein, contain the entire understanding of the parties with respect to the employment of Executive
by the Company from and after the Commencement Date and supersedes any prior agreements between the
Company and Executive with respect thereto, (but not the terms of, or rights under any equity or
benefit plans or grants existing on the date hereof). Executive shall not receive benefits under
both Section 8 of this Agreement and any other agreement providing for a payment as a result of a
termination of employment in connection with a change in control of the Company (other than the
provisions of an agreement providing a gross-up on any excise tax imposed by or under Section 4999
of the Code). There are no restrictions, agreements, promises, warranties, covenants or
undertakings between the parties with respect to the subject matter herein other than those
expressly set forth herein and therein. This Agreement may not be altered, modified, or amended
except by written instrument signed by the parties hereto.

(c) No Waiver. The failure of a party to insist upon strict adherence to any term of
this Agreement on any occasion shall not be considered a waiver of such party’s rights or deprive
such party of the right thereafter to insist upon strict adherence to that term or any other term
of this Agreement. Any such waiver must be in writing and signed by Executive or an authorized
officer of the Company, as the case may be.

(d) Assignment. This Agreement shall not be assignable by Executive. This Agreement
shall be assignable by the Company only to an entity which is owned, directly or indirectly, in
whole or in part by the Company or by any successor to the Company or an acquirer of all or
substantially all of the assets of the Company or all or substantially all of the assets of a group
of subsidiaries and divisions of the Company, provided such entity or acquirer promptly assumes all
of the obligations hereunder of the Company in a writing delivered to Executive and otherwise
complies with the provisions hereof with regard to such assumption. Upon such assignment and
assumption, all references to the Company herein shall be to the assignee entity or acquirer, as
the case may be.

(e) Successors; Binding Agreement; Third Party Beneficiaries. This Agreement shall
inure to the benefit of and be binding upon the personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees, legatees and permitted assignees of the
parties hereto. In the event of the Executive’s death while receiving amounts payable pursuant to
this Agreement, any remaining amounts shall be paid to Executive’s estate.

(f) Communications. For the purpose of this Agreement, notices and all other
communications provided for in this Agreement shall be in writing and shall be deemed to have been
duly given (i) when faxed or delivered, or (ii) two (2) business days after being mailed by United
States registered or certified mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth on the initial page of this Agreement, provided that all notices to
the Company shall be directed to the attention of the Secretary of the Company, or to such other
address as any party may have furnished to the other in writing in accordance herewith. Notice of
change of address shall be effective only upon receipt.

(g) Withholding Taxes. The Company may withhold from any and all amounts payable
under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant
to any applicable law or regulation.

(h) Survivorship. The respective rights and obligations of the parties hereunder,
including without limitation Section 11 hereof, shall survive any termination of Executive’s
employment to the extent necessary to the agreed preservation of such rights and obligations.

(i) Counterparts. This Agreement may be signed in counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument.

(j) Headings. The headings of the sections contained in this Agreement are for
convenience only and shall not be deemed to control or affect the meaning or construction of any
provision of this Agreement.

(k) Executive’s Representation. Executive represents and warrants to the Company that
there is no legal impediment to her entering into, or performing Executive’s obligations under this
Agreement and neither entering into this Agreement nor performing Executive’s contemplated service
hereunder will violate any agreement to which Executive is a party or any other legal restriction.
Executive further represents and warrants that in performing Executive’s duties hereunder Executive
will not use or disclose any confidential information of any prior employer or other person or
entity.

1

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

JACUZZI BRANDS, INC.

By: s/s     

Name: Steven C. Barre

Title: Senior Vice President, General Counsel

and Secretary

EXECUTIVE

     s/s     

Marie S. Dreher

2

EXHIBIT A

Relocation Program

This document describes the Executive relocation/reimbursement program (the “Relocation
Program”) available to the Executive.

	I.	 	The Executive will be reimbursed by the Company for the actual costs associated with the sale
of Executive’s principal home (“Former Home”), as follows:

	 	A.	 	Generally:

Packing, shipping, moving, unpacking and insuring household goods and common
personal possessions (carrier is typically prohibited from delivering perishables,
frozen foods, plants or shrubbery, combustible items and paint, or articles of
extraordinary value such as jewelry, precious stones, stamp collections, wills,
stocks, etc.).

Reasonable (at least three round trips with Executive and one dependent) pre-move
travel, meals, etc. for house hunting.

Selling expenses on Executive’s Former Home as follows:

Reasonable attorney’s fees

Transfer tax

Real estate commission, up to a maximum total of 6% of the gross
sales price.

Disconnecting and connecting normal appliances at origin and destination (not
including installation or overhauling of equipment).

	 	B.	 	The Company will pay for moving the following:

	 	(1)	 	Automobiles (maximum two), registered in Executive’s (or
spouse’s) name.

	 	(2)	 	One boat or trailer, registered in Executive’s (or spouse’s)
name.

	 	C.	 	The Company will not pay for moving firewood, building materials, exclusive use
of van, household cleaning and maid service, assembly or disassembly of portable
swimming pools or items of a similar nature.

	 	D.	 	The Company will reimburse Executive for the following incidental expenses
reasonably incurred in connection with Executive’s relocation:

	 	(1)	 	Travel expenses, including meals and lodging incurred by
Executive and dependents while traveling from Former Home to Executive’s new
location via personal car or common carrier, economy class.

	 	(2)	 	Meals and lodging expenses temporarily incurred by Executive
and dependents, if any, until Executive obtains permanent living quarters.
Such reimbursement shall not exceed such costs for two weeks or until two days
following delivery of Executive’s personal or household goods, whichever first
occurs. Extensions may be granted at the Company’s discretion as a result of
extenuating circumstances.

	 	E.	 	The Company will reimburse Executive for the following expenses in connection
with purchasing a principal house/home within a reasonable proximity to the new
Company’s headquarters’ location no later than twelve (12) months following the
relocation of Executive:

	 	(1)	 	Reasonable attorney’s fees;

	 	(2)	 	Title search and any other filing fees;

	 	(3)	 	Building and termite inspection;

	 	(4)	 	Mortgage application, placement fee and points (up to a maximum
payment of the lesser of 11/2 points or $6,000 for points).

	 	F.	 	The Company will make a payment to Executive equal to one month’s Base Salary
to cover other incidental expenses relating to moving. Executive is not required to
submit a claim for this payment. This payment will be made within thirty (30) days of
Executive’s actual physical permanent relocation, upon notice from Executive confirming
the move.

	II.	 	Tax Issues

Federal Income Tax law generally requires the Company to file forms with the
Internal Revenue Service (“IRS”) indicating the amount of moving and relocation
expenses paid to Executive or to others on behalf of Executive. Such amounts may
include, for example, the cost of moving household goods and real estate commissions
which are paid directly by the Company to outside companies. The total of the
amounts will generally be reported to the IRS on Form W-2, a copy of which will be
sent to Executive.

The Company shall advise Executive of the details of the moving expenses and
reimbursements and will provide the information to Executive in accordance with
applicable IRS Forms or Notices or, if no IRS Form or Notice is required, in a
format selected by the Company.

Executive generally will be required to include in taxable income the amounts shown
on Form W-2 and will be permitted to claim certain moving expense deductions for
amounts paid directly by the Executive and not reimbursed by the Company by filing
Form 3903 — Moving Expense Adjustment, or other applicable IRS forms. The Company
will reimburse Executive for additional federal taxes incurred as a result of
reporting income in excess of allowable deductions resulting from the relocation
other than that resulting from a termination by the Executive without Good Reason or
by the Company for Cause (the “Excess Amount”). However, the income provided
pursuant to Section I.F. will be subtracted from the Excess Amount prior to
calculating the additional federal tax “gross-up”. The Company will also reimburse
Executive for additional state and other payroll taxes, if any, incurred as a result
of paying for expenses referred to above, subject to the same limitations.

The Company is also required to withhold federal income taxes from that portion of
Executive’s reimbursement which are included in income and non-deductible. The
amount of such taxes withheld will be reimbursed to Executive.

Because the tax reimbursement(s) will also be taxable income to Executive in the
year received, the reimbursement(s) will be “grossed-up” so that the amount received
will substantially equal the balance of the tax, as well as the tax on the
reimbursement, at Executive’s marginal rate of federal tax and, if applicable, any
state tax and payroll taxes.

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]