SEC Filings
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8-K | ||||||||||||||||
HRG GROUP, INC. filed this Form 8-K on 01/21/2016 | ||||||||||||||||
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EXHIBIT 10.1
SUBSIDIARY SERVICE AGREEMENT
This SUBSIDIARY SERVICE AGREEMENT (“Agreement”), by and between HRG GROUP, INC., a Delaware corporation (formerly, Harbinger Group Inc., “HRG”), and DAVID MAURA (“Executive”) (collectively, the “Parties”) is made as of January 20, 2016. Capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to such terms in the HRG Agreement (defined below).
WHEREAS, HRG and Executive have entered into an amended and restated employment agreement, dated as of February 11, 2014 (the “HRG Agreement”);
WHEREAS, Spectrum Brands Holdings, Inc., a Delaware corporation and subsidiary of HRG, and its subsidiaries (collectively, “SPB”), desire to retain Executive to serve as SPB’s Executive Chairman and Executive is willing to provide such service (the “Service Arrangement”) and in connection therewith Executive and Spectrum Brands Holdings, Inc. have entered into an employment agreement, dated January 20, 2016 (the “SPB Agreement”); and
WHEREAS, on the terms and conditions set forth in this Agreement, the Parties have outlined their arrangements and understanding with respect to the
Service Arrangement, including the manner in which certain compensation received, and to be received, by Executive under the HRG Agreement will be reduced by certain compensation received, and to be received, by Executive under the SPB Agreement.
NOW, THEREFORE, in consideration of the premises and of the mutual covenants, understandings, representations, warranties, undertakings and promises hereinafter set forth, intending to be legally bound thereby, the Parties agree as follows:
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