Amendment No. 4 to Acuity Brands, Inc. Amended and Restated Severance Agreement with Richard K. Reece

Contract Categories: Human Resources › Severance Agreements
Summary

Acuity Brands, Inc. and Richard K. Reece have agreed to amend their existing Severance Agreement, originally dated April 21, 2006 and previously amended three times. This fourth amendment, effective October 27, 2014, changes the percentage in Section 4.2 from 80% to 90%. All other terms of the Severance Agreement remain unchanged. The amendment ensures that if Mr. Reece's employment is terminated under certain conditions, he will now receive 90% (instead of 80%) of the specified compensation or benefits.

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EX-10.(III)A(46) 2 ayi-20140831xex10iiia46.htm EXHIBIT AYI-2014.08.31-EX10(iii)A(46)


AMENDMENT No. 4
TO
ACUITY BRANDS, INC
AMENDED AND RESTATED SEVERANCE AGREEMENT


THIS AMENDMENT made and entered into as of the 27th day of October, 2014, by and between ACUITY BRANDS, INC. (the “Company”) and RICHARD K. REECE (“Executive”);

W I T N E S S E T H

WHEREAS, the Company and Executive entered into a Severance Agreement, dated as of April 21, 2006 (“Severance Agreement”), and amended as of October 28, 2009, March 30, 2010 and March 28, 2014, providing for the payment of certain compensation and benefits to Executive if Executive’s employment is terminated under certain circumstances; and

WHEREAS, the parties now desire to amend the Severance Agreement in the manner hereinafter provided;

NOW, THEREFORE, the Severance Agreement is hereby amended, as follows:

1.
Section 4.2 is hereby amended by deleting “80%” from clause (i) and substituting “90%” in lieu thereof.
2.
This Amendment to the Severance Agreement shall be effective as of the date of this Amendment. Except as hereby modified, the Severance Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year first above written.

COMPANY

EXECUTIVE                     ACUITY BRANDS, INC.



______________________________        By: ______________________________
RICHARD K. REECE                 Vernon J. Nagel
Chairman, President and CEO