CONFIDENTIALITY AND NONCOMPETITION AGREEMENTConfidentiality and Noncompetition Agreement • March 9th, 2005 • Valspar Corp • Paints, varnishes, lacquers, enamels & allied prods • Minnesota
This Confidentiality and Noncompetition Agreement (“Agreement”) is entered into by and between The Valspar Corporation, including its subsidiaries, (“Valspar”) and William L. Mansfield (“Executive”).
Congratulations on your upcoming retirement as Chief Executive Officer and subsequent retirement as Chairman of the Board and member of the Board of Valspar. The following summarizes the terms and conditions of your Separation Agreement and Release...Valspar Corp • March 9th, 2005 • Paints, varnishes, lacquers, enamels & allied prods • Minnesota
* You will be 100% vested in these restricted shares effective upon your termination date and the value will be taxed as ordinary income as of that date.
