AMF Bowling Worldwide, Inc. Offer Letter to Wayne T. Tennent for Senior Vice President, Human Resources Position

Summary

AMF Bowling Worldwide, Inc. offers Wayne T. Tennent the position of Senior Vice President, Human Resources, reporting to the President and CEO. The offer includes a base salary of $225,000 per year, eligibility for an annual bonus, and participation in company benefit programs, including enhanced senior management benefits. If terminated without cause, Tennent is eligible for 12 months of severance pay. The letter clarifies that employment is at-will and not a binding employment contract. Tennent must sign and return the letter to accept the offer.

EX-10.13 7 dex1013.txt EXHIBIT 10.13 Exhibit 10.13 AMF Bowling Worldwide, Inc. International Headquarters 8100 AMF Drive Mechanicsville, Virginia 23111 Post Office Box 15060 ###-###-#### Telephone ###-###-#### Facsimile Richmond, Virginia 23227 January 24, 2002 [LOGO OF AMF] Mr. Wayne T. Tennent Roland Smith 9257 Royal Grant Drive President Mechanicsville, VA 23116 Chief Executive Officer Dear Wayne: I am very pleased to extend an offer to you to join AMF as Senior Vice President, Human Resources, reporting directly to me. Below are the general terms of your compensation and benefits package upon employment. 1. Compensation A. Your base salary will be $225,000 per year, or $8,076.92 on a bi-weekly basis. B. You will be eligible to participate in the AMF Incentive Program with an annual target bonus of 50% of your annual base salary based upon AMF Consolidated operating performance. The bonus will be prorated for the number of months that you work in 2002, and we will guarantee one half of your prorated target bonus for 2002. 2. Benefits A. You will be eligible to participate in such benefit programs offered to full-time employees of AMF. These include, but are not limited to, group health, dental, life and disability insurance, vacation, personal and holiday pay. A summary booklet of these benefits is enclosed, and will be further reviewed with you in person upon employment. B. Additionally, you will be eligible for the Senior Management Benefits at the Tier 1 level. These benefits include Matching Annuity Plan, enhanced vacation (total of 20 days vacation), additional life and disability coverage, financial planning, airline club membership, and executive physicals. A summary booklet of these benefits is also enclosed, and will be further reviewed with you in person upon employment. 3. Severance If you are terminated for other than cause or willful misconduct, you will be eligible for 12 months of severance pay. AMF Always Means Fun!TM John H. Smith Letter Page 2. This letter is intended to only outline the salary and benefits available to you as an AMF Bowling Worldwide, Inc. employee and should not be considered an employment contract. AMF Bowling Worldwide, Inc. is an at will employer and as such you or the company may terminate your employment at anytime. I have enclosed two copies of this letter. Please sign one and fax a copy to Michelle Clegg in Human Resources at ###-###-####. Also please return the original signed copy to Michelle in the enclosed postage paid envelope for our records. Should you have any questions regarding the compensation and benefits listed above, please feel free to call Michelle at ###-###-####. Wayne, I am very excited to have someone of your experience and leadership capability join AMF. I look forward to working closely with you as we make AMD everything it can be! Sincerely, /s/ ROLAND SMITH Roland Smith President and CEO /s/ WAYNE T. TENNENT 8-02 - -------------------------- ---------- Wayne T. Tennent Date