SEC Contract Filing

Filing Date: 2017-12-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d507099dex101.htm
<DESCRIPTION>EXHIBIT 10.1 - NON-COMPETE AND CONFIDENTIALITY AGREEMENT WITH JACK D. CRUSA
<TEXT>
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<TITLE>EXHIBIT 10.1 - NON-COMPETE AND CONFIDENTIALITY AGREEMENT WITH JACK D. CRUSA</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 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">NON-COMPETE</FONT> AND CONFIDENTIALITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This <FONT STYLE="white-space:nowrap">Non-Compete</FONT> and Confidentiality Agreement (this &#147;Agreement&#148;) is effective as of the 1<SUP
STYLE="font-size:85%; vertical-align:top">st</SUP> day of January, 2018 between Leggett&nbsp;&amp; Platt, Incorporated (&#147;Company&#148;), a Missouri corporation, and Jack Crusa (&#147;Executive&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITALS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A. Executive, through his global work
in Company&#146;s Specialized and Industrial Products Segments as well as his participation in company-wide strategy and management sessions, is intimately familiar with many of Company&#146;s products, customers and suppliers, has obtained
confidential and trade secret business information of Company and its subsidiaries and has developed valuable expertise, goodwill, and business contacts and relationships through his long tenure at the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">B. Company wishes to restrict Executive&#146;s ability to use such confidential information, trade secrets, expertise, business contacts and business
relationships in competition with Company&#146;s business pursuits. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">C. Company and Executive have agreed to enter into this Agreement in recognition of
the above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW THEREFORE</B>, in consideration of the above and for good and valuable consideration, herein set forth, the parties
intending to be legally bound agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AGREEMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <I><U><FONT STYLE="white-space:nowrap">Non-Competition.</FONT></U></I> From January&nbsp;1, 2018 and continuing for a period of three (3)&nbsp;years
thereafter, Executive agrees as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1.1. Executive will not (either individually or through any entity in which he may be an
employee, agent, consultant, advisor, director, shareholder, partner or otherwise affiliated) directly or indirectly in any part of the Territory </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top">engage in any Competitive Activities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top">design, develop, manufacture, assemble, process, distribute, market or sell any Covered Products, or advise, represent or consult with any party not affiliated with Company in performing any of the foregoing;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top">solicit orders from or seek to do business with any customer or competitor of the Company or its affiliates relating to Covered Products or Competitive Activities; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top">influence or attempt to influence any employee, representative, advisor, customer, or supplier of Company to terminate their employment or relationship with the Company or its affiliates, or to alter their relationship
in a way that would be detrimental to the Company or its affiliates. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1.2. Company&#146;s subsidiaries and affiliates
(i)&nbsp;are third party beneficiaries of this Section, (ii)&nbsp;shall have all rights and remedies allowed in law or equity (including injunctive relief) to prevent further violations, and (iii)&nbsp;may also seek damages resulting from any
violation. Executive has reviewed this Section and agr