SEC Contract Filing

Filing Date: 2024-11-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.24
<SEQUENCE>3
<FILENAME>q4ex-1024.htm
<DESCRIPTION>EX-10.24
<TEXT>
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<title>Document</title></head><body><div id="i02409ccbda514984bd8c931b63f46683_1"></div><div style="min-height:91.44pt;width:100%"><div><img alt="image_01.jpg" src="image_01.jpg" style="height:74px;margin-bottom:5pt;vertical-align:text-bottom;width:624px"></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Exhibit 10.24</font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Corporate Headquarters</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1340 Treat Blvd., Suite 600</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Walnut Creek, CA 94597</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Phone 925.948.4000</font></div><div style="padding-right:-36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 25, 2024</font></div><div style="padding-right:-36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Bradley G. Smith</font></div><div style="padding-right:-36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2169 Green Street, Apt. 2</font></div><div style="padding-right:-36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">San Francisco, CA 94123</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dear Brad,</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I am delighted to offer you the position of Chief Financial Officer (&#8220;CFO&#8221;) of Central Garden &#38; Pet Company (&#8220;Central&#8221;), with an effective date of September 29, 2024. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please find listed below the details regarding your offer. You will report to Central&#8217;s Chief Executive Officer (the &#8220;CEO&#8221;). </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please review the below and if you accept the terms of the offer, sign, date and return this letter to me.</font></div><div style="text-indent:-21.6pt"><font><br></font></div><div style="padding-left:36pt;text-indent:-21.6pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.89pt">FULL TIME PERFORMANCE OF DUTIES</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. During your employment, you will perform those duties and responsibilities consistent with those of a Chief Financial Officer and as directed by the CEO. Except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, during your employment you agree to devote substantially all of your business time, attention, skill and efforts to the faithful and loyal performance of your duties and shall not engage in any other business activities, duties or pursuits, or render any services of a business, commercial, or professional nature to any other person or organization, whether for compensation or otherwise, without the prior written consent of Central. However, the expenditure of reasonable amounts of time for educational, charitable, or professional activities for which you will not receive additional compensation from Central shall be permissible if those activities do not materially interfere with the services required of you as CFO. </font></div><div style="padding-left:36pt"><font><br></font></div><div style="padding-left:36pt;text-indent:-21.6pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2.</font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.89pt">COMPENSATION. </font><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Your base salary pay will increase to $450,000 per year, less applicable taxes, and deductions, based on a normal full-time year.</font></div><div style="padding-left:36pt;text-indent:-21.6pt"><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:400;line-height:120%">You will be eligible to participate in Central&#8217;s Management Incentive Plan, Corporate Segment, at a target rate of 50% of your annual base salary beginning with the 2025 Fiscal Year. Your bonus is based upon both your individual and Central&#8217;s performance during the applicable fiscal year, with a payout made in a lump sum no later than March 15 of the following year. To be eligible for an annual bonus you must be actively employed by Central and in good standing on the date