ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 17, 2022, Whirlpool Corporation (the "Company"), entered into a
retention agreement (the "Retention Agreement") with Gilles Morel, the Company's
Executive Vice President and President, Whirlpool EMEA. The Retention Agreement
was entered into in connection with the Company's publicly announced plan to
conduct a strategic review of the EMEA region. Under the Retention Agreement,
Mr. Morel will be entitled to receive a cash retention bonus from the Company
equal to Euro 3 million, which will vest and become payable in two installments
as follows: (1) 35% on the closing date of a transaction divesting the EMEA
business (the "Transaction") and (2) following the Transaction, 65% on June 30,
2024, subject in each case to Mr. Morel's continued satisfactory employment with
the Company or any successor company prior to the applicable installment date,
subject to certain exceptions as further set forth in the Retention
Agreement. Mr. Morel will not receive the retention bonus if the Company ceases
to pursue the Transaction or, if the Transaction fails to close by June 30,
2024.
The description of the Retention Agreement in this Current Report on Form 8-K is
qualified in its entirety by reference to the complete text of the Retention
Agreement, a copy of which will be filed as an exhibit to the Company's
quarterly report on Form 10-Q for the quarter ended September 30, 2022.
Website Disclosure
We routinely post important information for investors on our website,
whirlpoolcorp.com, in the "Investors" section. We also intend to update the Hot
Topics Q&A portion of this webpage as a means of disclosing material, non-public
information and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of our website,
in addition to following our press releases, SEC filings, public conference
calls, presentations and webcasts. The information contained on, or that may be
accessed through, our webpage is not incorporated by reference into, and is not
a part of, this document.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
WHIRLPOOL CORPORATION 
