Wolverine World Wide Executive Severance Agreements for Executive Officers

Contract Categories: Human Resources › Severance Agreements
Summary

Wolverine World Wide has entered into Executive Severance Agreements with several of its executive officers, including Timothy J. O'Donovan, Stephen L. Gulis, Jr., Blake W. Krueger, Kenneth A. Grady, Cheryl L. Johnson, and Nicholas P. Ottenwess. These agreements specify the severance benefits each executive would receive if their employment is terminated, including a salary multiplier and defined periods for severance and change of control continuation. The terms vary by executive, with some receiving benefits for up to three years or 36 months following termination or a change of control.

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EX-10.13 12 wwwex1013_022807.htm WOLVERINE WORLD WIDE EXHIBIT 10.13 TO FORM 10-K Wolverine World Wide Exhibit 10.13 to Form 10-K - 02/28/07

EXHIBIT 10.13

          The executive officers listed below have entered into Executive Severance Agreements with the Company in the form filed herewith. The information listed below is inserted into the blanks for the respective executive officer's Executive Severance Agreement.

 

Salary Multiplier
Rate
(Section 4(a)(4))


Termination Period
(Section 1(n))

Change of Control
Continuation Period
(Section 2)
       

Timothy J. O'Donovan

3

3 years

36 months

Stephen L. Gulis, Jr.

3

3 years

36 months

Blake W. Krueger

3

3 years

36 months

Kenneth A. Grady

2

2 years

24 months

Cheryl L. Johnson

2

2 years

24 months

Nicholas P. Ottenwess

2

2 years

24 months