EX-10.1
from 8-K
7 pages
You Will Be Elected to the Positions of President and Chief Executive Officer (“CEO”), and Will Commence Serving as an Executive Officer of the Company, Effective as of the Day Immediately Following the Day Upon Which the Company’s Quarterly Report on Form 10-Q for the Period Ended September 30, 2018 Is Filed With the Securities and Exchange Commission (The “November Effective Date”). You Will Serve as CEO-Elect From the Start Date Until the November Effective Date, but Will Not Be an Executive Officer of the Company During Such Period. in Addition, You Will Be Appointed as a Member of the Company’s Board of Directors (“Director”), Effective as of the Start Date, Until Your Successor as a Director Is Elected and Qualified or Until Your Earlier Death, Resignation or Removal From Such Office. Your Initial Term as a Director Is Expected to End at the Company’s 2019 Annual Meeting of Shareholders. the Company Currently Expects That You Will Be Re-Nominated for Service as a Director Each Year While Serving as CEO. You Will Not Receive Any Additional Compensation or Benefits for Your Service as a Member of the Board. During Your Service as CEO, You Will Report to the Board and Will Work Primarily at the Company’s Office on Welbilt Boulevard in New Port Richey, Florida. While You Are Employed by the Company, You Will Devote Substantially All of Your Business Time and Efforts (I.E., Not Less Than Approximately 90% of Your Business Time and Efforts) to the Service of the Company. Your Appointment as a Director and Your Election as CEO Is Subject to Approval by the Board
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