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Ferguson plc – ‘10-Q’ for 10/31/23 – ‘EX-10.7’

On:  Wednesday, 12/6/23, at 4:16pm ET   ·   For:  10/31/23   ·   Accession #:  1832433-23-70   ·   File #:  1-40066

Previous ‘10-Q’:  ‘10-Q’ on 6/7/23 for 4/30/23   ·   Next & Latest:  ‘10-Q’ on 3/6/24 for 1/31/24   ·   8 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

12/06/23  Ferguson plc                      10-Q       10/31/23   68:4.4M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    729K 
 2: EX-10.7     Material Contract                                   HTML     27K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     24K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     24K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     21K 
12: R1          Cover                                               HTML     73K 
13: R2          Condensed Consolidated Statements of Earnings       HTML     89K 
                (Unaudited)                                                      
14: R3          Condensed Consolidated Statements of Comprehensive  HTML     45K 
                Income (Unaudited)                                               
15: R4          Condensed Consolidated Statements of Comprehensive  HTML     22K 
                Income (Unaudited) (Parenthetical)                               
16: R5          Condensed Consolidated Balance Sheets (Unaudited)   HTML    126K 
17: R6          Condensed Consolidated Balance Sheets (Unaudited)   HTML     34K 
                (Parenthetical)                                                  
18: R7          Condensed Consolidated Statements of Shareholders?  HTML     58K 
                Equity (Unaudited)                                               
19: R8          Condensed Consolidated Statements of Shareholders?  HTML     21K 
                Equity (Unaudited) (Parenthetical)                               
20: R9          Condensed Consolidated Statements of Cash Flows     HTML    107K 
                (Unaudited)                                                      
21: R10         Summary of significant accounting policies          HTML     35K 
22: R11         Revenue and segment information                     HTML     58K 
23: R12         Weighted average shares                             HTML     34K 
24: R13         Income tax                                          HTML     28K 
25: R14         Debt                                                HTML     39K 
26: R15         Assets and liabilities at fair value                HTML     31K 
27: R16         Commitments and contingencies                       HTML     23K 
28: R17         Accumulated other comprehensive loss                HTML     51K 
29: R18         Retirement benefit obligations                      HTML     32K 
30: R19         Shareholders? equity                                HTML     46K 
31: R20         Share-based compensation                            HTML     44K 
32: R21         Related party transactions                          HTML     25K 
33: R22         Summary of significant accounting policies          HTML     39K 
                (Policies)                                                       
34: R23         Summary of significant accounting policies          HTML     26K 
                (Tables)                                                         
35: R24         Revenue and segment information (Tables)            HTML     52K 
36: R25         Weighted average shares (Tables)                    HTML     34K 
37: R26         Income tax (Tables)                                 HTML     25K 
38: R27         Debt (Tables)                                       HTML     33K 
39: R28         Assets and liabilities at fair value (Tables)       HTML     29K 
40: R29         Accumulated other comprehensive loss (Tables)       HTML     52K 
41: R30         Retirement benefit obligations (Tables)             HTML     29K 
42: R31         Shareholders? equity (Tables)                       HTML     40K 
43: R32         Share-based compensation (Tables)                   HTML     41K 
44: R33         Summary of significant accounting policies - Cash   HTML     28K 
                and Cash Equivalents (Details)                                   
45: R34         Revenue and segment information - Narrative         HTML     21K 
                (Details)                                                        
46: R35         Revenue and segment information - Items not         HTML     49K 
                Allocated (Details)                                              
47: R36         Revenue and segment information - Disaggregation    HTML     42K 
                of Net Sales (Details)                                           
48: R37         Weighted average shares (Details)                   HTML     29K 
49: R38         Income tax - Schedule of Effective Income Tax Rate  HTML     21K 
                (Details)                                                        
50: R39         Debt - Schedule of Debt (Details)                   HTML     51K 
51: R40         Debt - Narrative (Details)                          HTML     59K 
52: R41         Assets and liabilities at fair value - Narrative    HTML     21K 
                (Details)                                                        
53: R42         Assets and liabilities at fair value -Debt          HTML     31K 
                Measured at Fair Value (Details)                                 
54: R43         Accumulated other comprehensive loss - Change in    HTML     44K 
                AOCI (Details)                                                   
55: R44         Accumulated other comprehensive loss -              HTML     43K 
                Reclassification Out of AOCI (Details)                           
56: R45         Retirement benefit obligations - Net Periodic Cost  HTML     32K 
                (Details)                                                        
57: R46         Shareholders? equity - Summary of Share Activity    HTML     51K 
                (Details)                                                        
58: R47         Shareholders? equity - Narrative (Details)          HTML     27K 
59: R48         Share-based compensation - Narrative (Details)      HTML     44K 
60: R49         Share-based compensation - Summary of Awards        HTML     58K 
                (Details)                                                        
61: R50         Share-based compensation - Summary of Time Vested,  HTML     35K 
                Performance Vested and Long-Term Incentive Awards                
                (Details)                                                        
62: R51         Share-based compensation - Schedule of Expense      HTML     24K 
                (Details)                                                        
63: R52         Related party transactions (Details)                HTML     24K 
66: XML         IDEA XML File -- Filing Summary                      XML    116K 
64: XML         XBRL Instance -- ferg-20231031_htm                   XML    749K 
65: EXCEL       IDEA Workbook of Financial Report Info              XLSX     88K 
 8: EX-101.CAL  XBRL Calculations -- ferg-20231031_cal               XML    144K 
 9: EX-101.DEF  XBRL Definitions -- ferg-20231031_def                XML    275K 
10: EX-101.LAB  XBRL Labels -- ferg-20231031_lab                     XML    923K 
11: EX-101.PRE  XBRL Presentations -- ferg-20231031_pre              XML    560K 
 7: EX-101.SCH  XBRL Schema -- ferg-20231031                         XSD    105K 
67: JSON        XBRL Instance as JSON Data -- MetaLinks              333±   490K 
68: ZIP         XBRL Zipped Folder -- 0001832433-23-000070-xbrl      Zip    329K 


‘EX-10.7’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 C:   C: 
  Document  

Exhibit 10.7
AMENDMENT NO. 3 TO THE
FERGUSON ENTERPRISES, LLC
EXECUTIVE LIFE INSURANCE PLAN II
THIS AMENDMENT is made as of the 29th day of November, 2023, by Ferguson Enterprises, LLC, a Virginia limited liability company (the "Company").
WHEREAS, the Company adopted the Ferguson Enterprises, Inc. Executive Life Insurance Plan II (the "Plan") for the benefit of participating employees effective as of January 1, 2006;
WHEREAS, on January 28, 2008, the Company first amended the Plan;
WHEREAS, on March 31, 2019, the Company converted from a corporation to a limited liability company, and was thereby renamed “Ferguson Enterprises, LLC”;
WHEREAS, on September 21, 2023, the Company amended the Plan a second time; and
WHEREAS, pursuant to Section 8.1 of the Plan, the Company reserved the right to amend the Plan, and now desires to do so;
NOW, THEREFORE, the Company hereby amends the Plan, effective as of the date first written above, as follows:
1.The Plan is amended by deleting Section 4.6 in its entirety and replacing it as follows:
4.6 Gross-Up Payment. In the event any premium payment by the Company to or for the benefit of a Participant under Section 4.3 who is not a member of the Executive Committee, as defined by the Company, is subject to (a) the income tax imposed under Subtitle A of the Code, (b) employment taxes imposed on employees under Subtitle C of the Code, or (c) state or local income taxes, then Participant shall be entitled each Plan Year to receive additional compensation in an amount such that is equal to thirty-five percent (35%) of the premium payment on such Participant’s behalf for the Plan Year. Members of the Executive Committee, as defined by the Company, are not entitled to a Gross-Up Payment under this section.


*          *          *
[Signature Page Follows]





IN WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this Amendment to be executed as of the day and year first above written.

FERGUSON ENTERPRISES, LLC
/s/ Ian Graham
Ian Graham
Senior VP & Secretary
TITLE


Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
Filed on:12/6/23None on these Dates
For Period end:10/31/23
9/21/23
3/31/19
1/28/08
1/1/06
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/18/24  Ferguson Enterprises Inc./DE      424B3                  1:3.9M                                   Donnelley … Solutions/FA
 4/18/24  Ferguson plc                      DEFM14A                1:3.9M                                   Donnelley … Solutions/FA
 4/16/24  Ferguson Enterprises Inc./DE      S-4/A                  1:4M                                     Donnelley … Solutions/FA
 4/12/24  Ferguson Enterprises Inc./DE      S-4/A                  6:4.1M                                   Donnelley … Solutions/FA
 3/06/24  Ferguson plc                      10-Q        1/31/24   74:5.4M
 3/01/24  Ferguson Enterprises Inc./DE      S-4                   12:4.2M                                   Donnelley … Solutions/FA


2 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/29/23  Ferguson plc                      8-K:5,9    11/28/23   14:1M                                     Donnelley … Solutions/FA
 9/26/23  Ferguson plc                      10-K        7/31/23  152:16M
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Filing Submission 0001832433-23-000070   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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