UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
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Introductory Note
| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously reported, on November 29, 2021, George A. Yuhas, General Counsel and Secretary of Central Garden & Pet Company (the “Company”) informed the Company of his intent to retire during 2022 once the Company appointed his successor. Mr. Yuhas’s resignation as General Counsel became effective on April 4, 2022 upon the appointment of the Company’s new general counsel.
On June 6, 2022, the Company entered into an amendment to Mr. Yuhas Employment Agreement effective March 1, 2011 (the “Amendment”), pursuant to which Mr. Yuhas has agreed to continue during a transition period to facilitate the onboarding of the new general counsel. Pursuant to the Amendment, Mr. Yuhas will continue on a full-time basis through June 30, 2022 at his existing base salary. From July 1, 2022 until December 31, 2022, Mr. Yuhas will transition to a part-time basis at a rate of 60% of his current monthly salary and will be eligible to participate in the Company’s fiscal 2022 bonus plan at a target bonus rate of 40% of his actual salary in fiscal 2022. Effective January 1, 2023, Mr. Yuhas will become a legal consultant for a period of 18 months. During the consulting period, he will make himself available for at least 30 hours per month and will be paid 15% of his current month salary. He will also be paid a lump sum amount of $118,000 within 30 days January 1, 2023 as partial consideration for entering into the Amendment.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Exhibit Title or Description | |
| 10.1 | Amendment No. 1 dated June 6, 2022 to Employment Agreement effective March 1, 2011 between the Company and George Yuhas. | |
| 104 | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTRAL GARDEN & PET COMPANY | ||
| By: | /s/ Joyce McCarthy | |
| Joyce McCarthy | ||
| General Counsel | ||
Dated: June 7, 2022
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