SEC Contract Filing

Filing Date: 2018-11-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.A
<SEQUENCE>2
<FILENAME>exhibit10a.htm
<DESCRIPTION>KIMBALL INTERNATIONAL, INC. EXHIBIT 10.A
<TEXT>
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<div><a name="s06964ebc0b2a4642b03da53105859cc4"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Exhibit 10(a)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;"><img src="kiilogobrandsrgb.jpg" alt="kiilogobrandsrgb.jpg" style="font-family:Arial;font-weight:bold;height:64px;width:336px;"></div><div style="line-height:120%;padding-bottom:19px;text-align:center;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Offer Letter</font></div><div style="line-height:120%;padding-bottom:7px;text-align:left;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Start Date: </font><font style="font-family:Arial;font-size:10pt;">October 31, 2018</font></div><div style="line-height:120%;padding-bottom:7px;text-align:left;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">CEO Appointment Effective Date:</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;November 1, 2018</font></div><div style="line-height:120%;padding-bottom:7px;text-align:left;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Cash Compensation:</font><font style="font-family:Arial;font-size:10pt;">&#32;The two components of your cash compensation will include base salary and participation in the Kimball International, Inc. 2016 Annual Cash Incentive Plan, as amended (the &#8220;Annual Cash Incentive Plan&#8221;).</font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;padding-left:1px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;padding-left:22px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Base salary:</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;$800,000 annually, paid bi-weekly</font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Annual Cash Incentive Plan:</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;Effective on your start date, you will begin participating in the Annual Cash Incentive Plan, with a target payout of 80% of your base salary (at the category 1 level plus 40 percentage points), and with a maximum payout of 120% of your base salary. For fiscal years 2019 and 2020, your minimum payout under the Annual Cash Incentive Plan will be 50% of your base salary, regardless of the performance of Kimball International, Inc. (the &#8220;Company&#8221;) in such fiscal years. Annual Cash Incentive Plan payments are paid out in August and December of each year based on the Company&#8217;s performance in the prior fiscal year and will begin for you in August 2019. If your employment is terminated before a scheduled payment date, you will not be entitled to receive that cash incentive payment or any subsequent cash incentive payment under the Annual Cash Incentive Plan, unless your termination is due to your death, permanent disability and/or Retirement. Solely for your purposes, &#8220;Retirement&#8221; under the Annual Cash Incentive Plan shall mean any termination of your employment, other than for Cause, occurring at or after you have attained the minimum retirement age under the governmental retirement system for the applicable country (age 62 in the United States), or at or after you have reached the age of 55 and have a combination of age plus years of Continuous Service as an executive officer of the Company equal to or greater than 65 and you comply with the process for approval of Retirement established by the Company. &#8220;Cause&#8221; and &#8220;Continuous Service&#8221; shall have the meanings set forth in the Annual Cash Incentive Plan.</font></div><div style="line-height:120%;padding-bottom:0px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Since you are a new employee and will not immediately start receiving incentive compensation payments based on your participation in the Annual Cash Incentive Plan (all incentive payments are made in the following fiscal year based on the Company&#8217;s performance in the prior fiscal year), you will be paid the Annual Cash Incentive Bridge Pa