Exhibit 10.2
KIRKLAND’S, INC.
5310 Maryland Way
Brentwood, TN 37027
April 3, 2023
Via Hand Delivery
Steve C. Woodward
Dear Woody:
You previously entered into an Employment Agreement with Kirkland’s, Inc. (the “Company”) dated September 21, 2018 (the “Employment Agreement”). In consideration of the mutual commitments contained herein, and to reflect your retirement from employment with the Company on May 31, 2023 (the “Retirement Date”), this letter (this “Letter Agreement”) supplements and modifies the Employment Agreement.
[signature page follows]
-2-
To acknowledge your agreement with the foregoing, please sign and return to me the enclosed copy of this letter, which will then constitute our legally binding agreement.
Sincerely,
| KIRKLAND'S, INC. | ||
| By: | /s/ W. Michael Madden | |
Title: Chief Financial Officer |
I hereby agree to the terms and conditions of Letter Agreement (including the release set forth above in Section 5) on April 3, 2023:
| /s/ Steven C. Woodward |
| Steven C. Woodward |
-3-
EXHIBIT A
RELEASE AND NON-DISPARAGEMENT AGREEMENT
THIS RELEASE AND NON-DISPARAGEMENT AGREEMENT (the “Release”) is made on May ___, 2023 by and between STEVE C. WOODWARD (“Executive”) and KIRKLAND’S, INC. (the “Company”).
WHEREAS, Executive’s employment by the Company terminated on May 31, 2023 (the “Termination Date”); and
WHEREAS, in connection with that termination and pursuant to Section 8(e) of the Employment Agreement by and between the Company and Executive dated as of September 21, 2018 (the “Employment Agreement”) and Section 3 of that certain Letter Agreement between the Company and Executive dated April 3, 2023 (the “Letter Agreement”), the Company has agreed to make certain payments to or on behalf of Executive, subject to the execution of this Release.
NOW THEREFORE, in consideration of these premises and the mutual promises contained herein, and intending to be legally bound hereby, the parties agree as follows:
-4-
-5-
-6-
IN WITNESS WHEREOF, the Company has caused this Release to be executed by its duly authorized officer, and Executive has executed this Release, in each case as of the date first above written.
KIRKLAND’S INC.
By:
Title:
STEVEN C. WOODWARD
By:
-7-