Executive Severance Agreements between Company and Executive Officers (Krueger, Grimes, Linton, Zwiers)
This agreement outlines the severance terms for executive officers Blake W. Krueger, Donald T. Grimes, Pamela L. Linton, and James D. Zwiers with the Company. It specifies the salary multipliers, change of control periods, and continuation periods that apply if their employment is terminated. The agreement ensures that, depending on the executive, they will receive severance benefits based on their salary for a set period (ranging from 2 to 3 years) following certain termination events, including a change of control.
Exhibit 10.13
Exhibit 10.13
The following current executive officers 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 | Change of Control
| ||||||||||||||
| Rate
| Termination Period | Continuation Period | |||||||||||||
| (Section 4(a)(4)) | (Section 1(n)) | (Section 2) | |||||||||||||
| Blake W. Krueger | 3 | 3 years | 36 months | ||||||||||||
| Donald T. Grimes | 2 | 2 years | 24 months | ||||||||||||
| Pamela L. Linton | 2 | 2 years | 24 months | ||||||||||||
| James D. Zwiers | 2 | 2 years | 24 months | ||||||||||||
