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DRI > SEC Filings for DRI > Form 8-K on 27-Nov-2013All Recent SEC Filings

Show all filings for DARDEN RESTAURANTS INC



Change in Directors or Principal Officers, Financial Statements and Exhibi

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 22, 2013, Darden Restaurants, Inc. (the "Company") entered into an agreement with Andrew H. Madsen (the "Agreement") in connection with Mr. Madsen's previously announced retirement as President, Transition Support effective November 24, 2013. Under the Agreement, for approximately twenty-one months following his retirement, Mr. Madsen will receive his regular weekly gross base salary, will remain eligible to participate in medical, dental, and vision programs similar to his current coverage level, and will continue to vest in existing equity awards in accordance with the terms of the applicable award agreements. In addition, Mr. Madsen will retain certain other ancillary benefits for limited periods, including physical examination, financial counsel and outsourcing benefits.

The Agreement includes customary confidentiality, non-solicitation, non-competition, non-disparagement and release provisions, with forfeiture of the benefits described above in the event of a breach of the Agreement. The preceding description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description
10.1 Agreement, dated November 22, 2013, between Darden Restaurants, Inc. and Andrew H. Madsen

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