Sally Beauty Supply 2006 Annual Report Download - page 132
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Employment Contracts, Termination of Employment and Change in Control Arrangements
Messrs. Winterhalter, Dowd, Lowery, Robinson and certain other New Sally executive officers are parties to severance agreements
with Alberto-Culver that provide payments and benefits if such officer’ s employment terminates under the circumstances set forth in
their severance agreement within two years after a change in control. In connection with the execution of the investment agreement
these New Sally executive officers entered into termination agreements providing that the transactions are not a change in control for
the purposes of their severance agreements, that their severance agreements will terminate immediately before completion of the
transactions and providing certain benefits described under “The Transactions—Interests of Certain Persons in the Transactions”
beginning on page 88. Following completion of the transactions, the New Sally named executive officers will enter into severance
agreements with New Sally that are described under “The Transactions—Interests of Certain Persons in the Transactions” beginning
on page 88.
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