Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) and (e)
Effective as of the First Merger Effective Time, Martin E. Franklin, Ian G.H. Ashken, James E. Lillie, Michael S. Gross, Peter A. Hochfelder,
William P. Lauder, Ros LEsperance, Irwin D. Simon and Robert L. Wood (together, the Former Directors) ceased serving as directors of Jarden.
In connection with the mergers, as of the First Merger Effective Time, Messrs. Franklin and Ashken and James E. Lillie, Chief Executive
Officer, John E. Capps, Executive Vice President-Administration, General Counsel and Secretary, and Alan W. LeFevre, Chief Financial Officer, each ceased to be an executive officer of Jarden.
In addition, on April 13, 2016, Jarden entered into separation agreements with each of Mr. Capps (the Capps Separation
Agreement) and Mr. LeFevre (the LeFevre Separation Agreement and, together with the Capps Separation Agreement, the Separation Agreements). The Separation Agreements were approved by Jardens Board of
Directors upon the recommendation of Jardens Compensation Committee. At the First Merger Effective Time, each of Messrs. Capps and LeFevres employment with the Company terminated and such termination was treated as a
Termination Without Cause in connection with a Change in Control of Jarden under Jardens 2013 Stock Incentive Plan (the 2013 Plan).
As a condition to receiving the separation payments and benefits described in the Separation Agreements, each of Messrs. Capps and LeFevre
were required to execute a release and waiver of claims in favor of Jarden. In addition, Mr. Capps agreed to extend the duration of the non-competition covenants that were contained in his employment agreement from one year
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to four years following the separation date and Mr. LeFevre agreed to enter into a non-competition covenant for four years following the separation date. The foregoing summary description of
the Separation Agreements does not purport to be complete and is qualified in its entirety by reference to the Capps Separation Agreement and the LeFevre Separation Agreement, which are attached to this Current Report on Form 8-K as Exhibits 10.1
and 10.2, respectively, and are incorporated herein by reference as though fully set forth herein.
In connection with the mergers, on
April 13, 2016, each of Messrs. Franklin, Ashken, Lillie, Capps and LeFevre entered into restricted stock agreements, pursuant to which Jarden granted an aggregate of 743,421 shares of restricted stock (the Franklin Restricted
Shares) to Mr. Franklin (the Franklin Agreements), an aggregate of 334,440 shares of restricted stock (the Ashken Restricted Shares) to Mr. Ashken (the Ashken Agreements), an aggregate of 334,440
shares of restricted stock (the Lillie Restricted Shares) to Mr. Lillie (the Lillie Agreements), an aggregate of 70,000 shares of restricted stock (the Capps Restricted Shares) to Mr. Capps (the
Capps Agreements), and an aggregate of 50,000 shares of restricted stock (the LeFevre Restricted Shares, and together with the Franklin Restricted Shares, the Ashken Restricted Shares, the Lillie Restricted Shares and the
Capps Restricted Shares, the Restricted Shares) to Mr. LeFevre (the LeFevre Agreements, and together with the Franklin Agreements, the Ashken Agreements, the Lillie Agreements and the Capps Agreements, the
Restricted Stock Agreements). The Restricted Shares were granted under the 2013 Plan.
The Restricted Shares subject to the
Restricted Stock Agreements automatically and without any action on the part of either of Messrs. Franklin, Ashken, Lillie, Capps or LeFevre became fully vested immediately prior to the First Merger Effective Time. Each of Messrs. Franklins,
Ashkens, Lillies, Capps and LeFevres rights with respect to the Restricted Shares granted pursuant to the Restricted Stock Agreements are subject to, and conditioned upon, each of their compliance with the noncompetition,
confidentiality and other covenants contained in their respective agreements through the fourth anniversary of their date of termination.
The foregoing summary description of the Restricted Stock Agreements does not purport to be complete and is qualified in its entirety by
reference to the Ashken Agreements, the Lillie Agreements, the Capps Agreements and the LeFevre Agreements, which are attached to this Current Report on Form 8-K as Exhibits 10.3, 10.4, 10.5, 10.6, 10.7, 10.8, 10.9, 10.10, 10.11 and 10.12, and are
incorporated herein by reference as though fully set forth herein.
Richard T. Sansones employment agreement with Jarden was
terminated in connection with the mergers, and he will be an employee of Newell as of the date hereof.