Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On April 21, 2022, the Compensation Committee of the Board of Directors of
Welbilt, Inc. (the "Company") approved a special cash bonus arrangement (the
"Transaction Bonus") for Jennifer Gudenkauf, the Company's Executive Vice
President and Chief Human Resource Officer. The Transaction Bonus is to be paid
in cash within 30 days after, and contingent upon, the closing of the sale of
the Company's Manitowoc Ice division. Payment of the Transaction Bonus is
contingent on Ms. Gudenkauf's continued employment through the closing of the
sale, unless she is terminated without cause or resigns for good reason. The
amount of the cash bonus will depend on the purchase price and will range
between $25,000 (if a minimum threshold is achieved) and $250,000. The
Transaction Bonus is also contingent on the execution by Ms. Gudenkauf of a
transaction bonus agreement, which will contain detailed terms and conditions of
the grant.
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