Corporate GovernanceJun 23, 2026, 09:32 AM
LCI Industries Amends Executive Employment Agreements
AI Summary
LCI Industries' subsidiary, Lippert Components, Inc., finalized amended and restated employment agreements with Group President Ryan R. Smith and President Jamie M. Schnur, effective June 19, 2026. These agreements clarify severance terms for "Approved Retirement" or death. Notably, Mr. Smith's cash severance multiple was reduced from three times to two times base salary and average bonus, with related payment and restrictive covenant periods shortened from 36 to 24 months.
Key Highlights
- Amended employment agreements for Ryan R. Smith and Jamie M. Schnur.
- Agreements effective June 19, 2026.
- Define severance for "Approved Retirement" or death.
- Mr. Smith's cash severance multiple reduced from 3x to 2x.
- Mr. Smith's severance period reduced from 36 to 24 months.
- Mr. Smith's restrictive covenant period reduced from 36 to 24 months.
Price Impact
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