Second Amendment to Employment Agreement of Anthony L. Genito with Spectrum Brands, Inc.
Spectrum Brands, Inc. and Anthony L. Genito amended Mr. Genito's employment agreement effective August 28, 2009. The amendment increases his annual base salary to $425,000 and raises his target long-term incentive plan payout to 150% of his base salary. These changes update the terms previously set in the February 24, 2009 amendment. The agreement outlines Mr. Genito's compensation and incentive terms as an executive of the company.
Exhibit 10.23
Description of Second Amendment to the Employment Agreement of Anthony L. Genito, effective as of August 28, 2009
Effective as of August 28, 2009, the board of directors of Spectrum Brands, Inc. increased the annual base salary of Anthony L. Genito to $425,000, which increase amended that certain Amendment to the Employment Agreement, effective as of February 24, 2009, by and between Spectrum Brands, Inc. and Anthony L. Genito. At that time, Mr. Genito’s target long term incentive plan payout amount was also increased to 150% of his base salary.
