SEC Contract Filing

Filing Date: 2017-05-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>6
<FILENAME>d393670dex108.htm
<DESCRIPTION>EX-10.8 - DESCRIPTION OF PERSONAL USE OF CORPORATE AIRCRAFT BY KARL G. GLASSMAN
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<TITLE>EX-10.8 - Description of Personal Use of Corporate Aircraft by Karl G. Glassman</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Description of Personal Use of Corporate Aircraft by Karl G. Glassman </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;8, 2017, the Compensation Committee of the Board of Directors of Leggett&nbsp;&amp; Platt, Incorporated (the &#147;<I>Committee</I>&#148;) adopted
resolutions regarding the personal use of corporate aircraft by Karl G. Glassman, the Company&#146;s President and CEO. Following the Committee&#146;s comprehensive review of the CEO&#146;s compensation package and given the location of the
Company&#146;s headquarters outside of a major metropolitan area, the Committee extended this perquisite to facilitate the CEO&#146;s schedule and to enable him to more efficiently attend to Company business while traveling. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Glassman&#146;s use of corporate aircraft for personal travel by him and his guests is subject to the aircraft not being scheduled for business
purposes, and is subject to an annual limit of $100,000 in aggregate incremental cost to the Company. Aggregate incremental cost includes variable direct costs associated with the personal flights by Mr.&nbsp;Glassman and his guests and
&#147;deadhead&#148; flights necessitated by such personal use. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company will not provide tax reimbursements to Mr.&nbsp;Glassman for any taxes
arising from imputed income relating to his use of the corporate aircraft for personal travel by him or his guests. </P>
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