Attached files
file | filename |
---|---|
10-K - FRANKLIN ELECTRIC FORM 10-K - FRANKLIN ELECTRIC CO INC | form10_k.htm |
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - FRANKLIN ELECTRIC CO INC | exhibit23.htm |
EX-21 - SUBSIDIARIES OF THE REGISTRANT - FRANKLIN ELECTRIC CO INC | exhibit21.htm |
EX-32.2 - EXHIBIT 32.2 CERTIFICATION - FRANKLIN ELECTRIC CO INC | exhibit32_2.htm |
EX-99.1 - FORWARD LOOKING STATEMENTS - FRANKLIN ELECTRIC CO INC | exhibit99_1.htm |
EX-31.2 - EXHIBIT 31.2 CERTIFICATION - FRANKLIN ELECTRIC CO INC | exhibit31_2.htm |
EX-32.1 - EXHIBIT 32.1 CERTIFICATION - FRANKLIN ELECTRIC CO INC | exhibit32_1.htm |
EX-31.1 - EXHIBIT 31.1 CERTIFICATION - FRANKLIN ELECTRIC CO INC | exhibit31_1.htm |
SECOND
AMENDMENT TO
EMPLOYMENT
AGREEMENT OF
R.
SCOTT TRUMBULL
This
Second Amendment to the Employment Agreement is made and entered into on March
2, 2010, by and between Franklin Electric Co., Inc., an Indiana corporation
(“Franklin”), and R. Scott Trumbull (“Executive”).
WHEREAS, Franklin and
Executive are parties to an Employment Agreement dated as of December 3, 2002
and amended as of February 18, 2009 (the “Agreement”), and they now desire to
further amend the Agreement.
NOW, THEREFORE, in
consideration of the mutual covenants and promises contained herein, and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree to amend the Agreement as follows, effective as
of January 1, 2010:
1.
|
By
amending subparagraph 7(b)(A) to read as
follows:
|
(b) If at any
time other than as specified in subparagraph (c) of this paragraph 7, (i)
Franklin shall terminate Executive's employment without Good Cause, or (ii)
Executive shall voluntarily terminate such employment with Good
Reason:
(A) Franklin
shall pay Executive the following amounts: (1) in accordance with
normal payroll practices, the Salary earned by Executive pursuant to
subparagraph 4(a) but not yet paid as of the date of Executive's termination of
employment, and any bonus earned by Executive pursuant to subparagraph 4(b) for
the year prior to the year in which Executive's termination occurs but not yet
paid as of such date, (2) a lump sum cash payment equal to not less than a
prorata portion of the bonus (based on the date on which such termination
occurs) that would be paid to Executive pursuant to subparagraph 4(b) for the
year in which Executive's termination occurs had he remained employed by
Franklin through the last day of such year, paid at the same time bonuses for
such year are paid by Franklin to other executives, and (3) a lump sum cash
payment, within 30 days of such termination, equal to the sum of (a) one and
one-half times the bonus paid or payable to Executive pursuant to subparagraph
4(b) for the year prior to the year of termination, and (b) one and one-half
times Executive's then current Salary.
IN WITNESS WHEREOF, the
parties have executed this Second Amendment to the Agreement on the 2nd day of
March, 2010.
FRANKLIN
ELECTRIC CO., INC.
By: /s/ John
Haines
Its: Vice President, Chief Financial Officer, and
Secretary
R. SCOTT TRUMBULL
/s/ R. Scott
Trumbull