Amendment No. 9 to Acuity Brands, Inc. Severance Agreement between Acuity Brands, Inc. and Richard K. Reece dated March 29, 2019
EX-10.B 3 ayi-20190228xex10b.htm EXHIBIT 10.B Exhibit
AMENDMENT NO. 9
ACUITY BRANDS, INC
THIS AMENDMENT made and entered into as of the 29th day of March, 2019, 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, March 28, 2014, October 27, 2014, October 26, 2015, October 25, 2016, October 25, 2017 and January 4, 2019, 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:
Section 2.11 is hereby replaced in its entirety by the following:
2.11 “Severance Period” - A period equal to eighteen (18) months from the Executive’s Date of Termination.
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.
ACUITY BRANDS, INC.
/s/ Richard K. Reece
/s/ Vernon J. Nagel
RICHARD K. REECE
VERNON J. NAGEL
Chairman, President and CEO