Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
As previously reported, on November 29, 2021, George A. Yuhas, General Counsel
and Secretary of Central Garden & Pet Company (the "Company") informed the
Company of his intent to retire during 2022 once the Company appointed his
successor. Mr. Yuhas's resignation as General Counsel became effective on
April 4, 2022 upon the appointment of the Company's new general counsel.
On June 6, 2022, the Company entered into an amendment to Mr. Yuhas Employment
Agreement effective March 1, 2011 (the "Amendment"), pursuant to which Mr. Yuhas
has agreed to continue during a transition period to facilitate the onboarding
of the new general counsel. Pursuant to the Amendment, Mr. Yuhas will continue
on a full-time basis through June 30, 2022 at his existing base salary. From
July 1, 2022 until December 31, 2022, Mr. Yuhas will transition to a part-time
basis at a rate of 60% of his current monthly salary and will be eligible to
participate in the Company's fiscal 2022 bonus plan at a target bonus rate of
40% of his actual salary in fiscal 2022. Effective January 1, 2023, Mr. Yuhas
will become a legal consultant for a period of 18 months. During the consulting
period, he will make himself available for at least 30 hours per month and will
be paid 15% of his current month salary. He will also be paid a lump sum amount
of $118,000 within 30 days January 1, 2023 as partial consideration for entering
into the Amendment.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Exhibit Title or Description
10.1 Amendment No. 1 dated June 6, 2022 to Employment Agreement effective
March 1, 2011 between the Company and George Yuhas.
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