SEC Contract Filing

Filing Date: 2024-04-24

Document Content:
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<DESCRIPTION>EX-10.8
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<DIV><FONT size="1" style="font-size:1pt;color:white">AMENDED AND RESTATED SEVERANCE AGREEMENT March 1, 2024 Helen of Troy Nevada Corporation l Helen of Troy Plaza El Paso, Texas 79912 Attn: Board of Directors 1. Employment Relationship. Tessa Judge (&#8220;Employee&#8221;) is currently employed by Helen of Troy Nevada Corporation, a Nevada corporation (the &#8220;Company&#8221;) as Chief Legal Officer. Employee and the Company acknowledge that either party may terminate Employee&#8217;s employment relationship with the Company and any of its affiliates at any time and for any or no reason, provided that each party complies with the terms of this Amended and Restated Severance Agreement (this &#8220;Agreement&#8221;). Capitalized terms used but not otherwise defined in this Agreement are defined in Section 5 below. 2. Release of Claims. In consideration for and as a condition precedent to receiving the severance benefits outlined in this Agreement, Employee agrees to execute a Release of Claims in the form attached as Exhibit A (&#8220;Release of Claims&#8221;). Employee promises to execute and deliver the Release of Claims to the Company within 21 days (or, if required by applicable law, 45 days) from the last day of Employee&#8217;s active employment. Employee shall forfeit the severance benefits outlined in this Agreement in the event that Employee fails to execute and deliver the Release of Claims to the Company in accordance with the timing and other provisions of the preceding sentence or revokes such Release of Claims prior to the &#8220;Effective Date&#8221; (as such term is defined in the Release of Claims) of the Release of Claims. 3. Additional Compensation Upon Certain Termination Events. 3.1 Termination of Employee&#8217;s Employment (Not in Connection with a Change of Control or Retirement Termination of Employment). In the event of a Termination of Employee&#8217;s Employment and contingent upon the Employee&#8217;s execution of the Release of Claims without revocation within the time period described in Section 2 above and in compliance with Section 8 and Section 9 of this Agreement, Employee shall be entitled to the following benefits: (a) an amount equal to (i) twelve (12) months of Employee&#8217;s annual base pay at the rate in effect immediately prior to the date of Termination of Employee&#8217;s Employment plus (ii) 100% of the target annual incentive for the performance period during which Employee&#8217;s employment was terminated, which incentive payment would have been awarded to Employee under the Helen of Troy Limited 2011 Annual Incentive Plan and any successor annual incentive plan or arrangement in which executive officers and employees of Helen of Troy Limited, a Bermuda company (&#8220;Helen of Troy&#8221;), and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the &#8220;Annual Incentive Plan&#8221;); (b) an amount equal to the pro rata portion (as defined below) of the annual incentive payable under the Annual Incentive Plan for the performance period during which Employee&#8217;s employment was terminated had Employee&#8217;s employment not been terminated, based upon the actual performance of Helen of Troy at the end of such performance period and payable at the same time that such payment would be made during Employee&#8217;s regular employment with the Company. For purposes of this Section 3.1(b), the term &#8220;pro rata portion&#8221; shall mean a percentage, when expressed as a fraction, the numerator of which Exhibit 10.8 </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> is the number of days during the applicable performance period in which the Employee was an employee of the Company, and the denominator of which is the number of days in such performance period; (c) the vesting of the pro rata portion (as defined below) of any performance-based compensation that would be vested or otherwise payable to Employee under the Helen of Troy Limited Amended and Restated 2008 Stock Incentive Plan, the Helen of Troy Limited 2018 Stock Incentive Plan and any successor stock or long-term incentive plan in which executive officers and employees of Helen of Troy and its subsidiaries are eligible to participate (as amended, restated or modified from time to time, the &#8220;Stock Incentive Plan&#8221;) for the performance period(s) during which Employee&#8217;s employment with the Company was terminated if Employee&#8217;s employment had not been terminated, based upon the actual performance of Helen of Troy at the end of such performance period(s) and payable at the same time that such payment would be made during Employee&#8217;s regular employment with the Company. For purposes of this Section 3.1(c), the term &#8220;pro rata portion&#8221; shall mean a percentage, when expressed as a fraction, the numerator of which is the number of days during the applicable performance period(s) in which the Employee was an employee of the Company, and the denominator of which is the number of days in such performance period(s); and (d) the immediate vesting of a pro rata portion (as defined below) of any installment of time-vested restricted stock units (&#8220;RSUs&#8221;), time-vested restricted stock awards (&#8220;RSAs&#8221;) and time-