SEC Contract Filing

Filing Date: 2019-09-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>eh1901059_ex1002.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Paul Weiss
 Document created using EDGARfilings PROfile 4.5.0.0
 Copyright 1995 - 2019 Broadridge-->
</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif" text="#000000" bgcolor="#ffffff">
<!--PROfilePageNumberReset%Num%1%%%-->
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">EXHIBIT 10.2</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: right">Execution Copy</div>

<div style="TEXT-ALIGN: right"><br>
</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">EMPLOYMENT AGREEMENT</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">This EMPLOYMENT AGREEMENT (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Agreement</u></font>&#8221;) is entered into as of September 9, 2019 (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Effective Date</u></font>&#8221;) by and between Spectrum Brands Holdings, Inc., a Delaware corporation, (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Company</u></font>&#8221;) and Jeremy W. Smeltser (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Executive</u></font>&#8221;).</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">WHEREAS, the Company desires to employ Executive upon the terms and conditions set forth herein;</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">WHEREAS, Executive is willing and able to accept such employment on the terms and conditions set forth herein; and</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">WHEREAS, Executive&#8217;s employment with the Company is expressly conditioned upon the agreement by Executive to the terms and conditions of such employment as contained in this Agreement.</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">NOW THEREFORE, in consideration of the promises and mutual agreements contained herein, which include the provision of certain benefits and compensation to which Executive would not otherwise be entitled or receive, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive hereby agree as follows:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Employment Duties and Acceptance.</u></font>&#160; As of October 1, 2019, the Company shall employ Executive as, and Executive agrees to serve and accept employment with the Company as, an employee on such date with the title of Executive Vice President. Commencing on December 20, 2019 or such earlier date as the Company may elect, Executive shall commence service as Executive Vice President and Chief Financial Officer of the Company, reporting directly to the Chief Executive Officer (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>CEO</u></font>&#8221;) of the Company.&#160;&#160;During the Term (as defined in Section 2 hereof), Executive shall devote substantially all of his working time and best efforts to such employment and perform such duties as an employee and subsequently, as Executive Vice President and Chief Financial Officer, in each case including those duties reasonably assigned by the CEO and/or his representatives and/or the board of directors of the Company (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Board</u></font>&#8221;) or committees thereof.&#160;&#160; Executive shall be based at the Company&#8217;s world headquarters in Wisconsin or Missouri office, as determined by the Company.&#160;&#160;In addition, during the Term, Executive agrees to serve without additional compensation as the Chief Financial Officer and or as an officer or director of any other subsidiaries or affiliates of the Company, as reasonably requested by the Company. Other than as provided in this Agreement or subsequently specifically and explicitly approved by the Board or the Compensation Committee, Executive shall not be entitled to any other compensation, benefits or severance for Executive&#8217;s service to the Company.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Term of Employment.</u></font>&#160; Subject to the termination of employment as set forth in Section 4 hereof, Executive&#8217;s employment and appointment hereunder shall be for a term commencing on the Effecti