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| CENT > SEC Filings for CENT > Form 8-K on 8-Mar-2013 | All Recent SEC Filings |
8-Mar-2013
Change in Directors or Principal Officers, Financial Statements and Exhib
On March 7, 2013, Central Garden & Pet Company (the "Company") announced that John Ranelli, the Company's Chief Executive Officer, will assume the responsibilities of the President of the Pet segment effective immediately. The Company also announced that it entered into a Consulting Services Agreement with Frank Palantoni, its Executive Vice President and President of the Pet Segment (the "Consulting Agreement") on March 7, 2013. The Consulting Agreement will become effective on the date the Company provides written notice (the "Effective Date") that Mr. Palantoni's Employment Agreement, dated February 14, 2011 as amended on September 28, 2012, is to be replaced and superseded by the Consulting Agreement, which Effective Date will be on or after June 10, 2013. The Consulting Agreement shall continue in effect for an initial term of 21 months (the "Initial Term") from the Effective Date and, at the Company's election and by mutual agreement, an additional 12 months thereafter (the "Remaining Term"). After the Effective Date, Mr. Palantoni will become a consultant and will perform advisory and other services for the Company for an average of 32 hours per month during the Initial Term and, if applicable, for an average of up to ten hours per month during the Remaining Term. The Company shall pay Mr. Palantoni $31,430 per month during the Initial Term and, if applicable, $6,000 per month during the Remaining Term.
A copy of the Consulting Agreement is filed as Exhibit 10.1 to this Form 8-K.
10.1 Consulting Agreement dated March 7, 2013.
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