Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 17, 2021, Wolverine World Wide, Inc. (the "Company"), and Brendan
Hoffman, currently the Company's President, entered into an Amendment (the
"Amendment") to the Employment Agreement between Mr. Hoffman and the Company
dated August 7, 2020 (the "Employment Agreement"). The changes to the
Employment Agreement pursuant to the Amendment will be effective as of January
2, 2022, and provide, among other changes, that Mr. Hoffman shall serve as the
President and Chief Executive Officer of the Company, with a base salary of
$1,000,000 per annum, and he will be enrolled in the Company's Executive
Short-Term Incentive Plan at the target rate of 120%. If Mr. Hoffman's
employment is terminated by the Company without cause, or by Mr. Hoffman with
good reason, he will receive severance equal to eighteen months of his
then-current base salary, offset by the amount of salary and guaranteed
compensation, if any, he is entitled to from another employer, and the other
payments and benefits described in the Employment Agreement, as amended by the
Amendment.
The foregoing description of the Amendment is not complete and is qualified in
its entirety by reference to the complete text of the Employment Agreement and
the Amendment. The Amendment is filed as an exhibit to this Current Report.
The Employment Agreement is filed as an exhibit to the Company's Annual Report
on Form 10-K, filed on February 26, 2021.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
10.1 Amendment to Employment Agreement by and between the Company and
Brendan Hoffman, dated December 17, 2021
104 The cover page from this Current Report on Form 8-K, formatted
in Inline XBRL.
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