Document:

Exhibit 102

		

			Exhibit 10.2

		

		
			SEPARATION AGREEMENT AND GENERAL RELEASE
		

		
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			This Separation Agreement and General Release (“Agreement”) is entered into by you, Michael Bisignano on behalf of yourself, your heirs, executors, administrators, successors, assigns and anyone else who may sue on your behalf (collectively, “you”) and Terminix Global Holdings, Inc. on behalf of itself, past and present subsidiaries, parent companies, affiliated entities, predecessors, successors, assigns, and their respective past and present officers, directors, employees, insurers and agents (collectively, “Company” or “Terminix”).  In consideration of the mutual covenants in this Agreement, the parties hereby agree as follows:
		

		
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				 1.
			Separation from Employment:  Your employment at Terminix will end, effective March 15, 2021 (“Separation Date”) and you will no longer hold any other position as officer or director with Terminix or any of its subsidiaries or affiliates.

		
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				 2.
			Severance Benefits.  In exchange for your promises as set forth in this Agreement, and subject to your compliance with the terms and conditions hereof, Terminix agrees to provide you with the following severance benefits:

		
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				 a.
			Salary Continuation.  You will receive payments in the total gross amount of $454,500.00 (the “Salary Continuation Payments”), which equals 52 weeks of your current base salary.

		
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				 b.
			Target Bonus.  You will receive payments totaling $272,700.00 (the “Target Bonus”), which equals your target bonus under the Terminix Annual Bonus Plan for the 2021 Plan year.

		
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				 c.
			COBRA Subsidy.  If you participate in Terminix’s Health and Welfare Benefit Plan and elect to continue your medical coverage under the Plan pursuant to the Consolidated Omnibus Reconciliation Act (COBRA), you will receive a one-time lump sum payment of $10,000.00, which equals the difference between your monthly COBRA premiums and your premiums as an active employee for 12 months.  This payment will be made on the first practicable regularly scheduled pay date after the Company receives notice of your election to continue coverage under COBRA.

		
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				 d.
			Career Transition Assistance.  The Company will pay for executive-level career transition services for you with its outplacement services provider for up to 12 months, subject to its normal outplacement services program.  If you wish to initiate career transition services, you must do so within 60 days of your Separation Date by calling 1-877-700-7220, ext. 888 or go to www.lhh.com/register.

		
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			The Salary Continuation Payments and Target Bonus will be aggregated as a single sum and paid in 24 equal semi-monthly installments, starting on the first practicable regularly scheduled pay date after the Effective Date (defined in paragraph 18 below).
		

		
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			Except as otherwise expressly specified in this Agreement, the compensation set forth in paragraph 2 above represents all of the amounts you will be entitled to receive from the Company and you will not be paid any other compensation or benefits.  In addition to any other remedies which may be available at law, the Company may suspend, cancel and/or seek the refund of any payments contemplated by this Agreement upon any violation by you of any representation, warranty or covenant set forth herein.
		

		
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				 3.
			Other Benefits. Upon separation of employment, you may be eligible for payout or benefits under the following policies, compensation plans and benefit plans, even if you do not sign this Agreement:

		
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				 a.
			Group Health Insurance.  If you participate in or are eligible to participate in the Company Health and Welfare Benefit Plan, your eligibility to participate will end on your last day of employment. You will become eligible for continuation of coverage under COBRA on the first day following the last day of employment.  You are solely responsible for the payment of any premiums for COBRA coverage.

		
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				 b.
			Accrued unpaid wages.  You will be paid any accrued, unpaid wages through your Separation Date (including any accrued, unused vacation time as reflected in Terminix’s HRIS system) on the first regularly scheduled pay date following your Separation Date or within the time period required by applicable law.

		
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				 c.
			PSRP/401K.  If you participate in the Company Profit Sharing and Retirement Plan (“PSRP”), your eligibility to participate will end on your Separation Date.  Any Company match credited to your account will follow the 
		

		 

 

			PSRP’s vesting schedules.  Any amounts to be paid, distributed, rolled over, or held under the PSRP will be paid, distributed, rolled over, or held in accordance with the terms of the PSRP and applicable rules and regulations.

		
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				 d.
			DCP.  If you participate in the Company Deferred Compensation Plan (“DCP”), your eligibility to participate in the DCP will end on your Separation Date. Any balance in your DCP account will be distributed or held in accordance with your prior elections, subject to the terms of the DCP and applicable rules and regulations. 

		
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				 e.
			Stock Plans.  If you participate in any Company stock plans, including the Amended and Restated ServiceMaster Global Holdings, Inc. Stock Incentive Plan, as amended and restated as of October 25, 2012 (“MSIP”), the Amended and Restated ServiceMaster Global Holdings, Inc. 2014 Omnibus Incentive Plan, as amended and restated as of April 27, 2015, and/or the ServiceMaster Global Holdings, Inc. Employee Stock Purchase Plan (or the applicable successor plans), any account balances, stock options, restricted stock units or other equity held by you as of your Separation Date are subject to the terms and conditions of the applicable stock plans.  This Agreement does not change the terms of those plans, and for the avoidance of doubt, any equity awards outstanding an unvested as of your Separation Date shall be forfeited without vesting or payment in accordance with the terms of the applicable stock plans.  

		
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				 4.
			Release and Covenant Not to Sue.  

		
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				 a.
			Release:  In exchange for the consideration provided to you in this Agreement, you hereby release and forever discharge Terminix, its past and present parent entities, subsidiaries, divisions, limited partnerships, affiliated corporations, successors and assigns,  as well as their respective past and present directors, managers, officers, partners, agents, employees, insurers, attorneys, servants, and each of them, separately and collectively (“Releasees”), from any and all known and unknown claims, charges, complaints, liens, demands, causes of action, obligations, damages and liabilities, known or unknown, suspected or unsuspected, whether or not mature or ripe (“Claims”), that you ever had and now have against any of the Releasees, including, but not limited to, Claims arising out of or in any way related to your employment with or separation from the Company.  This includes, but is not limited to, Claims based on statutes, torts, contracts and common law, Claims for discrimination, wrongful discharge, harassment, retaliation, and unpaid wages, Claims arising under Title VII of the Civil Rights Act of 1964, the Fair Labor Standards Act (“FLSA”), Family Medical Leave Act (“FMLA”), the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act, and any applicable federal, state or local law or regulation governing the employment relationship. You understand that this Agreement includes a release of all known and unknown claims through the Effective Date.  

		
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				 b.
			Limitation of Release:  Nothing in this Agreement will prohibit you from filing a charge of discrimination with the National Labor Relations Board, the Equal Employment Opportunity Commission (“EEOC”) or an equivalent state civil rights agency.  Further, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement under federal, state or local employment or other laws, such as claims for workers’ compensation or unemployment benefits or any claims that may arise after the Effective Date.

		
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				 c.
			Covenant Not To Sue.  To the extent that any Claims covered by the scope of the release herein are not subject to waiver by this Agreement under applicable law (including, without limitation, any Claims arising under or related to FMLA, FLSA, and any other local, state or federal statute governing employment and/or the payment of wages and benefits), you hereby covenant and agree not to sue or otherwise seek any remedy or other form of relief against any of the Releasees relating to such Claims.

		
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				 d.
			Representations: You represent that you (i) have been provided all benefits due under the Family and Medical Leave Act and any applicable state or local law; (ii) have received all wages due, including any overtime pay, bonus pay and commissions; (iii) that you have received all meals and rest breaks to which you were entitled under the Fair Labor Standards Act and any applicable state and local law; and (iv) that you have not had any work-related accidents or injuries that you have not previously reported in writing to the Company.

		
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				 5.
			Confidential Information.  You acknowledge and agree that (a) you have not used or disclosed any Confidential Information other than as necessary in the ordinary course of performing your duties as a Terminix employee for the benefit of Terminix, and (b) you will keep in confidence and trust all Confidential Information known to you, and will not use or disclose such Confidential Information without the prior written consent of Terminix.  As used in this Agreement, “Confidential Information” means (a) all trade secrets, proprietary information, business techniques and processes, technical know-how and other non-public information (including customer, supplier, marketing and financial 
		

		 

		

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			information) used by the Company in connection with its business operations; (b) non-public business information obtained from customers, franchisees, suppliers, contractors and other business partners; and (c) private personnel information.  Nothing in this Agreement precludes you from (a) making any report or disclosure to a government agency to the extent required or protected by statute, regulation or other applicable law; or (b) testifying truthfully in any legal proceedings to the extent compelled by a valid subpoena. 

		
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			Pursuant to the Defend Trade Secrets Act, 18 USC §§ 1831-39, you are hereby noticed as follows: An individual may not be held criminally or civilly liable under any federal or state trade secret law for disclosure of a trade secret: (a) made in confidence to a government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; and/or (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Additionally, an individual suing an employer for retaliation based on the reporting of a suspected violation of law may disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, so long as any document containing the trade secret is filed under seal and the individual does not disclose the trade secret except pursuant to court order.
		

		
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				 6.
			Restrictive Covenants.  For a period of 12 months following your Separation Date, you shall not, either personally or in concert with any other person (a) induce or encourage any Terminix employee to terminate his/her employment or seek employment or association with any other person, business or entity; (b) own (other than as a passive shareholder of less than 1% of publicly traded stock), manage, operate, become employed by or provide service to any company that competes with Terminix; (c) solicit or sale any product or service in competition with Terminix to any person, business or other entity that is a customer of Terminix; or (d) interfere with Terminix’s relations with any of its customers, franchisees, subcontractors, consultants, vendors or business partners.  This Agreement is in addition to and does not supersede any other agreements prohibiting non-interference or competition with Terminix.

		
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				 7.
			Code of Ethics and Business Conduct.  You previously have been provided or have access through the Company intranet site to the Company Code of Ethics and Business Conduct (the “Code”).  The discovery of any failure by you to abide by the Code, whenever discovered, shall entitle the Company to exercise any and all available legal remedies, including the suspension and recoupment of any payments made or due under this Agreement and any other agreements between the parties.

		
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				 8.
			Return of Terminix Property.  You agree to return to Terminix all Terminix property, equipment and materials, including, but not limited to, any company vehicle, any laptop computer and peripherals; any cell phone or other portable computing device; any telephone calling cards; keys; Terminix identification card; any credit or fuel cards; and all tangible written or graphic materials (and all copies) relating in any way to Terminix or its business, including, without limitations, documents, manuals, customer lists and reports, as well as all data contained on computer files, “thumb” drives, “cloud” services, or other data storage device, or home or personal computers.   

		
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				 9.
			Assistance.  You agree to provide information to Terminix as requested to help transition your job duties and to cooperate fully with the Company and its counsel with respect to any claims, investigations, legal proceedings or other matters relating to your employment or about which you have knowledge.  You further agree to notify Terminix’s General Counsel immediately in the event you are asked to assist or supply information to any person or entity regarding any such matters.

		
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				 10.
			Non-Disparagement.  You agree that you will refrain from taking actions or making statements, written or oral, which criticize, disparage or defame the business, goodwill or reputation of Terminix (including its products and services), its directors, officers, executives, subsidiaries, parent entities, and/or employees or making statements which could adversely affect the morale of other employees.  Similarly, the Company will instruct its chief executive officer and other executive officers to refrain from making any statements to third parties that disparage or defame you.  You agree to direct any prospective employers seeking to verify your employment data to The Work Number (www.theworknumber.com or 1.800.367.5690; company code “12319”), an on-line employment verification service operated by Equifax Workforce Solutions. Nothing in this Agreement precludes either party from (a) making any report or disclosure to a government agency to the extent required or protected by statute, regulation or other applicable law; or (b) testifying truthfully in any legal proceedings to the extent compelled by a valid subpoena.

		
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				 11.
			Severability.  You and Terminix agree that to the extent that any portion of this Agreement may be held to be invalid or legally unenforceable, the remaining portions will not be affected and will be given full force and effect. 

		
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				 12.
			Dispute Resolution.  Any dispute or controversy between you and Terminix, whether arising out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be subject to The Terminix We Listen Dispute Resolution Plan in effect on your Separation Date, which provides the mandatory and exclusive remedy and procedure for disputes between you and Terminix.  Notwithstanding the foregoing, you agree that Terminix may seek a temporary restraining order and/or preliminary injunction in any court of competent jurisdiction, without the posting of a bond, in order to preserve the status quo or to enforce the covenants in this Agreement.

		
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				 13.
			Notices. All notices required or permitted pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) if to Terminix, when sent by electronic mail with confirmation of delivery; (b), if to you, (i)  upon personal delivery, (ii) when sent by electronic mail with confirmation of delivery, (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. Such notice shall be addressed as follows:

		
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						If to Terminix:

					
						 

					
						Terminix Global Holdings, Inc.

					
						 

					
						Attn: VP & Deputy General Counsel

					
						 

					
						marcus.mcdaniel@Terminix.com

					
						 

					
						legal@Terminix.com

					
					
						 

					
					
						 

				

		
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			If to you, at the most recent address listed in the Company’s human resources information system.
		

		
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				 14.
			Governing Law and Venue.  The interpretation, construction and performance of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Tennessee without regard to the principle of conflicts of laws.  Subject to the dispute resolution provisions herein, any judicial proceeding arising from and relating to this Agreement shall be brought in courts having competent jurisdiction located in the State of Tennessee, which shall be the exclusive forum for resolving such disputes.  Both parties consent to the personal jurisdiction of such courts for the purposes of this Agreement.  The parties shall stipulate in any proceeding that this Agreement is considered for all purposes to have been executed and delivered in the State of Tennessee.

		
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				 15.
			Taxes.  Unless otherwise specified, all payments contemplated by this Agreement shall be subject to applicable payroll taxes and other required withholdings.  This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be interpreted and construed consistently with such intent.  Payments provided herein are intended to be exempt from Section 409A of the Code to the maximum extent possible under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such purposes, each payment under this Agreement shall constitute a “separately identified” amount within the meaning of Treasury regulation §1.409A-2(b)(2).  In the event the terms of this Agreement would subject you to taxes or penalties under Section 409A of the Code (“409A Penalties”), you shall cooperate diligently with the Company to amend the terms of this Agreement to avoid such 409A Penalties, to the extent possible; provided, that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement.    You understand that the Company has not provided any advice regarding the tax liability resulting from this Agreement and you shall not rely upon any representations or policies of the Company related to taxation.  You are advised to seek the advice of your own personal tax advisor or counsel as to the tax treatment of any payments contemplated by this Agreement.  The Company specifically disclaims that it has responsibility for the proper calculation or payment of any taxes which may be due other than for standard statutory withholding.

		
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				 16.
			Entire Agreement.  You and Terminix agree that this Agreement constitutes the complete understanding between you and Terminix regarding the matters herein and that no other promises or agreements, express or implied, will be binding between you and Terminix unless signed in writing by you and Terminix.  This Agreement fully supersedes and replaces any and all prior agreements or understandings, if any, between you and Terminix on any matter that is addressed in this Agreement (including, without limitation, that certain offer letter dated [DATE] originally entered into by and between you and ServiceMaster), with the exception of confidentiality/non-solicitation/non-compete 
		

		 

		

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			covenants, which shall continue to apply in addition to, and not in lieu of, the covenants contained in paragraphs 5, 6 and 10 of this Agreement). 

		
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				 17.
			OWBPA Notice.  Pursuant to the federal Older Workers Benefit Protection Act, you are advised as follows:

		
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			This Agreement includes a waiver of claims of age discrimination under the federal Age Discrimination in Employment Act; 

			
	
			
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			You are advised to consult with your personal attorney before signing this Agreement; 

			
	
			
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			You have 45 days from your receipt of this Agreement to consider the Agreement (the “Review Period”);

			
	
			
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			If your executed Agreement is not received by the Company within seven days from the end of the Review Period, the Agreement and any promises offered on behalf of Company contained therein will be null and void;

			
	
			
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			You have seven days after you sign this Agreement to revoke the Agreement. 

		
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				 18.
			Effective Date:  This Agreement becomes effective on the 8th day after you sign, provided you do not revoke the Agreement as provided above.

		
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			YOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT CAREFULLY, UNDERSTAND ALL OF ITS TERMS AND AGREE TO THOSE TERMS KNOWINGLY, FREELY, VOLUNTARILY, AND WITHOUT DURESS.  YOU HAVE CONSULTED WITH YOUR PERSONAL ATTORNEY (OR HAVE HAD AN OPPORTUNITY TO DO SO) REGARDING THE TERMS AND LEGAL EFFECT OF THIS AGREEMENT.
		

		
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						/s/ Michael Bisignano

					
					
						 

					
					
						/s/ David Dart

				
	
					
						Michael Bisignano

					
					
						 

					
					
						David Dart

				
	
					
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						SVP & Chief Human Resources Officer

				
	
					
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						Terminix Global Holdings, Inc.

				
	
					
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						Date: 3/15/2021

					
					
						 

					
					
						Date: 3/15/2021

				

		
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			5Document

Exhibit 10.4
SPECTRUM BRANDS HOLDINGS, INC.
[Name of Equity Plan]

RESTRICTED STOCK UNIT AGREEMENT

THIS RESTRICTED STOCK UNIT AGREEMENT (the “Agreement”) is made, effective as of [date] (hereinafter the “Date of Grant”), between Spectrum Brands Holdings, Inc. (the “Company”) and [name] (the “Participant”).

R E C I T A L S:

WHEREAS, the Company has adopted the [name of equity plan], as amended (the “Plan”), pursuant to which awards of Restricted Stock Units may be granted; and

WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Committee”) has determined that it is in the best interests of the Company and its stockholders to grant to the Participant an award of Restricted Stock Units as provided herein and subject to the terms set forth herein.

NOW THEREFORE, for and in consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:

1.    Grant of Restricted Stock Units. The Company hereby grants on the Date of Grant to the Participant a total of [     ] Restricted Stock Units (the “Award”), on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. Such Restricted Stock Units shall be credited to a separate account maintained for the Participant on the books of the Company (the “Account”). On any given date, the value of each Restricted Stock Unit comprising the Award shall equal the Fair Market Value of one share of Common Stock. The Award shall vest and settle in accordance with Section 3 hereof.

2.    Incorporation by Reference, Etc. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. In the event of a conflict between the Plan and this Agreement, the terms and conditions of the Plan shall govern. The Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the Participant and his or her legal representative in respect of any questions arising under the Plan or this Agreement.

3.    Terms and Conditions.

(a)Vesting, Settlement and Forfeiture. The Award and all Restricted Stock Units subject thereto shall be one hundred percent (100%) unvested as of the Date of Grant. Except as otherwise provided in the Plan and this Agreement, and contingent upon the Participant’s continued service to the Company until [        ] (“the Vesting Date”), the Award shall 

vest and become non-forfeitable on the Vesting Date and on such date the Company shall settle the Award and shall therefore (i) issue (in book-entry form) in the name of the Participant one share of Stock (each, an “RSU Share”) for each Restricted Stock Unit, with any fractional shares paid out in cash (and, upon such settlement, those Restricted Stock Units shall cease to be credited to the Account) and (ii) enter the Participant’s name as a stockholder of record with respect to the RSU Shares on the books of the Company.

(b)Transfer Restrictions. The Award granted hereunder may not be sold, pledged or otherwise transferred (other than by will or the laws of descent and distribution) and may not be subject to lien, garnishment, attachment or other legal process. The Participant acknowledges and agrees that, with respect to each Restricted Stock Unit credited to their Account, the Participant has no voting rights with respect to the Company unless and until each such Restricted Stock Unit is settled in RSU Shares pursuant to Section 3(a) hereof.

(c)Effect of Termination of Service. If the Participant’s service as a member of the Board terminates before [date]: (i) due to voluntary resignation (not at the request of the Board or pursuant to a requirement in an employment agreement), death, Disability, or by reason of removal by the shareholders, then the Award shall be cancelled and forfeited, provided, that, in the sole discretion of the Committee, all or part of the Award may vest and become non-forfeitable; (ii) due to resignation at the request of the Board, not being re-elected by the shareholders at an annual or special meeting of shareholders, pursuant to a requirement in an employment agreement, or if Participant becomes a member of the Company’s management and is no longer eligible to receive compensation for services as a Director, then, in the sole discretion of the Committee, a pro-rata portion of the Award, based on the number of days of the fiscal year that the Participant served a non-management Director through the date of termination of service, may vest and become non-forfeitable and the remainder of the Award shall be cancelled and forfeited; or (iii) due to a Change in Control, then the entire Award shall immediately vest and become non-forfeitable.  An Award or portion of an Award that vests pursuant to this Section 3(c) shall be issued as otherwise described in (a) above. 

(d)Dividends. If on any date dividends are paid on shares of Common Stock, then the Participant’s Account shall be credited with dividend equivalent payments either in cash or, at the sole discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends, which accumulated dividend equivalents shall be payable and forfeited at the same time as the underlying Restricted Stock Units are settled or forfeited, and, if such Restricted Stock Units are forfeited, the Participant shall have no right to any dividend equivalent payments relating thereto.

(e)Taxes and Withholding. Under current law and based upon the status of Participant as a nonemployee member of the Board of Directors of the Company, vesting of the Award does not create a withholding obligation.  The Participant shall be responsible for all income taxes payable in respect of the Award. 

(f)Rights as a Stockholder. Upon and following the settlement of the Award, the Participant shall be the record owner of the Common Stock issued in respect thereof unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights, if any, with respect to the RSU Shares. Prior to the Vesting Date, the Participant 
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shall not be deemed for any purpose to be the owner of shares of Common Stock underlying the Restricted Stock Units.
    

5.    Miscellaneous.

(a)Stockholder Approval of the Plan. The Restricted Stock Units granted under this Agreement are issued pursuant to the Plan, as amended, as approved by the shareholders of the Company.

(b)General Assets. All amounts credited to the Account under this Agreement shall continue for all purposes to be part of the general assets of the Company, the Participant’s interest in the Account shall make the Participant only a general, unsecured creditor of the Company. 

(c)Notices. All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be sent by registered or certified first-class mail, return receipt requested, telecopier, courier service or personal delivery:

if to the Company:

3001 Deming Way
Middleton, WI 53562
Facsimile: (608) 288-7546
Attention: General Counsel

with a separate copy to: 
3001 Deming Way
Middleton, WI 53562
Attention: Chief Financial Officer

if to the Participant:
At the Participant’s last known address on file with the Company.

All such notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if personally delivered; when delivered by courier, if delivered by commercial courier service; five business days after being deposited in the mail, postage prepaid, if mailed; and when receipt is mechanically acknowledged, if telecopied.

(d)Clawback/Forfeiture. The Committee may in its sole discretion cancel all or any portion of the Award if the Participant, without the consent of the Company, while providing services to the Company or any Affiliate or after termination of such service, violates a non-competition, non-solicitation or non-disclosure covenant or agreement or otherwise has engaged in or engages in activity that is in conflict with or adverse to the interests of the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities, as determined by the Committee in its sole discretion. If the Participant otherwise has engaged in or engages in any activity referred to in the preceding sentence, the Participant will forfeit any gain realized on the vesting or settlement of such Award, and must 
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promptly repay the gain to the Company, upon 30 days prior written demand by the Committee. In addition, if the Participant receives any amount in excess of what the Participant should have received under the Award for any reason (including without limitation by reason of a financial restatement, mistake in calculations or other administrative error), then the Participant shall be required to repay any such excess amount to the Company upon 30 days prior written demand by the Committee. To the extent required by applicable law (including without limitation Section 304 of the Sarbanes Oxley Act and Section 954 of the Dodd Frank Act), the Award shall be subject to any required clawback, forfeiture or similar requirement. 

(e)Confidentiality

i.The Participant agrees to hold in strict confidence and, except as the Company may authorize or direct, in each case in writing, not disclose to any person or use any confidential information or materials received by the Participant from the Company or any Affiliate and any confidential information or materials of other parties received by the Participant in connection with the performance of Participant.  For purposes of this Section, confidential information or materials shall include existing and potential customer or vendor information, existing and potential supplier information, product information, design and construction information, pricing and profitability information, non-public mergers or acquisition information, financial information, sales and marketing strategies and techniques, know-how and negative know-how, product developments, inventions, technical data, ideas, forecasting reports, marketing techniques and materials, cost information, margin information, information regarding the Company’s interactions with third parties, governmental entities and personnel (including information with respect to the processes and functioning of the Company’s Board of Directors and any committees thereof, and any member or advisor to the Board or such committees), personnel data, employee compensation, salary, and benefits, performance reviews, and business plans, ideas or practices.  Confidential information or materials shall not include any information that has entered or enters the public domain through no direct or indirect fault of the Participant or agent of the Participant.  As to confidential information or materials that constitute a trade secret, the restrictions in this paragraph shall last for as long as the item qualifies as a trade secret under federal or state law.  The restriction on the Participant’s use or disclosure of the confidential information or materials that do not constitute a trade secret shall remain in force during the time the Participant is providing services to the Company and until the earlier of (x) a period of seven (7) years thereafter or (y) such information is of general knowledge in the industry through no direct or indirect fault of the Participant or any agent of the Participant.  The Participant also agrees to return to the Company promptly upon its request any Company information or materials in the Participant’s possession or under the Participant’s control 

ii.Nothing in this Section diminishes or limits any protection granted by law to trade secrets or relieves the Participant of any duty not to disclose, use or misappropriate any information that is a trade secret for as long as such information remains a trade secret.  Nothing herein shall limit or render unenforceable any other agreement between the Company and the Participant regarding the subject matter contained in this Section.  The Participant understands and agrees that the confidentiality obligations set forth in this Section are in addition to any confidentiality obligations imposed by law or other contract with the Company.

iii.Notwithstanding any provision in this Agreement or any other agreement that the Participant may have entered into with the Company or any subsidiaries or affiliates thereof on 
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or prior to the date hereof (collectively, the “Confidentiality Agreements”), nothing contained in any of the Confidentiality Agreements shall (i) prohibit the Participant from cooperating with or reporting to the staff of the Securities and Exchange Commission (the “SEC”) possible violations of any law or regulation of the SEC, (ii) prohibit the Participant from cooperating with or making other disclosures to the staff of the SEC that are protected under the whistleblower provisions of any federal securities laws or regulations or (iii) limit the Participant’s right to receive an award for information provided to the SEC staff in accordance with the foregoing. The Participant does not need the prior authorizations of the Company to engage in such cooperation, reports, communications or disclosures and the Participant is not required to notify the Company if the Participant engages in any such cooperation, reports, communications or disclosures. 

iv.Nothing in this Agreement (or any prior agreement on confidentiality to which the Participant may be subject) diminishes or limits any protection granted by law to trade secrets or relieves the Participant of any duty not to disclose, use, or misappropriate any information that is a trade secret, for as long as such information remains a trade secret.  Additionally, nothing in this Agreement (or any prior agreement on confidentiality to which the Participant may be subject) is intended to discourage the Participant from reporting any theft of trade secrets to the appropriate government official pursuant to the Defend Trade Secrets Act of 2016 (“DTSA”) or other applicable state or federal law.  Additionally, under the DTSA, a trade secret may be disclosed to report a suspected violation of law and/or in an anti-retaliation lawsuit, as follows:

1.An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that:  (A) is made (1) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

2.An individual who files a lawsuit for retaliation for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual: (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement (or any prior agreement on confidentiality to which the Participant may be subject) shall limit, curtail or diminish the Company’s statutory rights under the DTSA, any applicable state law regarding trade secrets or common law.

(f)Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable

(g)No Rights to Service. Nothing contained in this Agreement shall be construed as giving the Participant any right to be retained, in any position, as an employee, consultant or director of the Company or its Affiliates or shall interfere with or restrict in any 
5

way the rights of the Company or its Affiliates, which are hereby expressly reserved, to remove, terminate or discharge the Participant at any time for any reason whatsoever.

(h)Bound by Plan. By accepting this Award, the Participant acknowledges that the Participant has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan.

(i)Beneficiary. The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator of the Participant’s estate shall be deemed to be the Participant’s beneficiary.

(j)Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.

(k)Section 409A. It is intended that this Award be exempt from or comply with Section 409A of the Code and this Agreement shall be interpreted consistent therewith. This Award is subject to Section 15(t) of the Plan.

(l)Electronic Delivery. By executing this Agreement, the Participant hereby consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by Securities and Exchange Commission rules. This consent may be revoked in writing by the Participant at any time upon three business days’ notice to the Company, in which case subsequent required prospectuses, annual reports and other information will be delivered in hard copy to the Participant.

(m)Securities Laws. The Participant agrees that the obligation of the Company to issue RSU Shares shall also be subject, as conditions precedent, to compliance with applicable provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, state securities or corporation laws, rules and regulations under any of the foregoing and applicable requirements of any securities exchange upon which the Company’s securities shall be listed.

(n)Entire Agreement. This Agreement, and the Plan, contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior agreements, communications, representations and negotiations in respect thereto. No change, modification or waiver of any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto. 

(o)Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware without regard to principles of conflicts of law thereof, or principals of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware.

(p)Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement.
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(q)Signature in Counterparts. This Agreement may be executed 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 and may be executed by electronic signature or other electronic means.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

Spectrum Brands Holdings, Inc.

_____________________________

Ehsan Zargar
Executive Vice President, General Counsel and Corporate Secretary

Acknowledged and Agreed:

_____________________________
Name: 

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