<SEC-DOCUMENT>0001193125-15-208979.txt : 20150601
<SEC-HEADER>0001193125-15-208979.hdr.sgml : 20150601
<ACCEPTANCE-DATETIME>20150601160109
ACCESSION NUMBER:		0001193125-15-208979
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20150527
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150601
DATE AS OF CHANGE:		20150601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPUR SEALY INTERNATIONAL, INC.
		CENTRAL INDEX KEY:			0001206264
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				331022198
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31922
		FILM NUMBER:		15903323

	BUSINESS ADDRESS:	
		STREET 1:		1000 TEMPUR WAY
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40511
		BUSINESS PHONE:		800-878-8889

	MAIL ADDRESS:	
		STREET 1:		1000 TEMPUR WAY
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPUR PEDIC INTERNATIONAL INC
		DATE OF NAME CHANGE:	20031202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TWI HOLDINGS INC
		DATE OF NAME CHANGE:	20021119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d935740d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(D) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported) May&nbsp;27, 2015 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TEMPUR SEALY INTERNATIONAL, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-31922</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>33-1022198</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1000 Tempur Way </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Lexington, Kentucky 40511 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(800) 878-8889 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>INTRODUCTORY COMMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Throughout this Current Report on Form 8-K, the terms &#147;we,&#148; &#147;us,&#148; &#147;our&#148; and &#147;Company&#148; refer to Tempur
Sealy International, Inc. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry Into a Material Definitive Agreement </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Amendment to Employment Agreement
</I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On May&nbsp;27, 2015, pursuant to Sections 6.3 and 6.8 of the Employment and Non-Competition Agreement by and between the Company and
Mark A. Sarvary, dated as of June&nbsp;30, 2008 (the &#147;Employment Agreement&#148;), the Company and Mr.&nbsp;Sarvary mutually agreed to amend the Employment Agreement (the &#147;Amendment&#148;) to add two subsections to the Employment Agreement
to address technical issues on the timing of various severance and separation payments to be paid to Mr.&nbsp;Sarvary if and when he separates from the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The description of the Amendment above does not purport to be complete and is qualified in its entirety by reference to the Employment
Agreement, a copy of which was filed as Exhibit 10.1 to Form 8-K filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on June&nbsp;30, 2008, and the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on
Form 8-K and incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Letter Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As previously disclosed in the Company&#146;s Current Report on Form 8-K filed with the SEC on May&nbsp;11, 2015, Mr.&nbsp;Sarvary stepped down
from his positions as President and Chief Executive Officer of the Company, effective May&nbsp;12, 2015. On May&nbsp;27, 2015, the Company sent a letter to Mr.&nbsp;Sarvary confirming that the Company was terminating Mr.&nbsp;Sarvary&#146;s
employment under the Employment Agreement not for Cause (as defined in the Employment Agreement), effective May&nbsp;31, 2015. Mr.&nbsp;Sarvary&#146;s departure will be governed by the terms of the Employment Agreement and the Amendment and other
related compensation and benefit plans. In addition to the foregoing, on May&nbsp;27, 2015 the Company entered into a letter agreement with Mr.&nbsp;Sarvary. The letter agreement confirmed Mr.&nbsp;Sarvary&#146;s termination; Mr.&nbsp;Sarvary
provided a general release and waiver of claims; and the Company agreed to provide Mr.&nbsp;Sarvary with outplacement services and reimburse legal expenses, a mutual non-disparagement provision and certain other provisions relating to his departure.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The description of the letter agreement above does not purport to be complete and is qualified in its entirety by reference to the
Employment Agreement, a copy of which was filed as Exhibit 10.1 to Form 8-K filed with the SEC on June&nbsp;30, 2008, and the letter agreement, a copy of which is filed as Exhibit 10.2 hereto, each of which is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Mr.&nbsp;Sarvary&#146;s Termination </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The disclosure in Item&nbsp;1.01 of this Current Report on Form 8-K regarding Mr.&nbsp;Sarvary&#146;s termination is incorporated by reference
into this Item&nbsp;5.02. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Election of Mr.&nbsp;Luther as Director </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On May&nbsp;30, 2015, the Board of Directors of the Company (the &#147;Board&#148;) appointed Jon Luther to serve as a director, with a term
expiring at the Company&#146;s annual meeting of stockholders for the year 2016. The Board also appointed Mr.&nbsp;Luther to serve on the Nominating and Corporate Governance Committee of the Board (the &#147;NCG&#148;) and the CEO Search Committee
of the Board. There are no agreements or understandings between Mr.&nbsp;Luther and any other person pursuant to which he was appointed to the Board. Neither Mr.&nbsp;Luther nor his immediate family has been a party to any transaction required to be
disclosed under Item&nbsp;404(a) of <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-K.</FONT> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with Mr.&nbsp;Luther&#146;s appointment to and service on the Board and consistent
with the compensation arrangements for non-employee directors as further described under the heading &#147;Director Compensation&#148; in the Company&#146;s 2015 Proxy Statement filed with the SEC on March&nbsp;16, 2015, Mr.&nbsp;Luther will receive
an annual cash retainer, annual equity award grant and reasonable expense reimbursement for his service on the Board, with such amounts to be pro-rated to reflect his time of service. In connection with Mr.&nbsp;Luther&#146;s appointment as a member
of the NCG and CEO Search Committees of the Board, he will receive fees commensurate with such service. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Adoption of Retention Program
</I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additionally, in connection with recent changes in Board composition and the announced search for a new CEO, the Board approved on
May&nbsp;30, 2015 a retention program for certain members of senior management (the &#147;Retention Program&#148;) in order to help ensure stability in the senior management team over the next year and create additional incentives to meet
performance targets for 2015. The Retention Program provides that the Company will make retention bonus payments to certain members of senior management ( the &#147;Senior Executives&#148;) if two requirements are met: (i)&nbsp;the Company meets an
adjusted EBITDA threshold (as defined in the documents creating the Retention Program) for 2015 of $444 million (representing the consensus analysts&#146; estimate for 2015 adjusted EBITDA as of May&nbsp;27, 2015) and (ii)&nbsp;the particular Senior
Executive is still employed at May&nbsp;31, 2016 or was terminated by the Company on or prior to that date, other than for &#147;Cause&#148;, or the Senior Executive terminated his or her employment on or before May&nbsp;31, 2016 for &#147;Good
Reason&#148; (with &#147;Cause&#148; and &#147;Good Reason&#148; having definitions based on the terms of the Senior Executive&#146;s employment agreement or the Company&#146;s Severance and Retention Plan dated as of March&nbsp;18, 2013 which was
filed as Exhibit 10.2 to Form 8-K filed with the SEC on October&nbsp;23, 2013). The amounts to be paid to each Senior Executive are set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tim Yaggi</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interim President and CEO</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dale Williams</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP and CFO</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rick Anderson</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP and President, North America</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">David Montgomery</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP and President, International</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jay Spenchian</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP and CMO</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lou Jones</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP, General Counsel and Secretary</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">450,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Brad Patrick</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP and Chief Human Resources Officer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">450,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Barry Hytinen</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EVP, Corporate Development and Finance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">450,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bhaskar Rao</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SVP, Corporate Finance and Chief Accounting Officer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">300,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing summary of the material terms of the Retention Program is not complete and is qualified in its
entirety by reference to the Retention Program as outlined in the forms of letter agreements to be signed with each Senior Executive to implement the Retention Program, which are attached hereto as Exhibit 10.3 and 10.4, respectively, and
incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;1, 2015, the Company issued a press release
announcing Mr.&nbsp;Luther&#146;s appointment to the Board. The press release is attached to this Current Report as Exhibit&nbsp;99.1. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in this Item&nbsp;7.01 (including Exhibit&nbsp;99.1) shall not be deemed to be &#147;filed&#148; for purposes of
Section&nbsp;18 of the Securities Exchange Act of 1934 (&#147;Exchange Act&#148;), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the
Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">First Amendment to the Employment and Non-Competition Agreement, by and between the Company and Mark Sarvary, dated as of May 22, 2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Letter agreement between the Company and Mark Sarvary, dated as of May 22, 2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Letter Agreement Outlining Retention Program for United States Executive Officers</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Letter Agreement Outlining Retention Program for non-United States Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release announcing the appointment of Jon Luther to the Board, dated June 1, 2015</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: June&nbsp;1, 2015 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Tempur Sealy International, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dale E. Williams</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Dale E. Williams</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President &amp; Chief Financial Officer</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">First Amendment to the Employment and Non-Competition Agreement, by and between the Company and Mark Sarvary, dated as of May 22, 2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Letter agreement between the Company and Mark Sarvary, dated as of May 22, 2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Letter Agreement Outlining Retention Program for United States Executive Officers</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Letter Agreement Outlining Retention Program for non-United States Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release announcing the appointment of Jon Luther to the Board, dated June 1, 2015</TD></TR>
</TABLE>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d935740dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO THE EMPLOYMENT AND NON-COMPETITION AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(MARK A. SARVARY) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
FIRST AMENDMENT TO THE EMPLOYMENT AND NON-COMPETITION AGREEMENT OF MARK A. SARVARY (the &#147;<U>Amendment</U>&#148;) is effective as of the date executed below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Tempur-Pedic International, Inc., now known as &#147;Tempur Sealy International, Inc. (the &#147;<U>Company</U>&#148;) entered
into an Employment and Non-Competition Agreement (the &#147;<U>Employment Agreement</U>&#148;) with Mr.&nbsp;Mark&nbsp;A. Sarvary (&#147;<U>Mr. Sarvary</U>&#148; or &#147;<U>Employee</U>&#148;) effective June&nbsp;30, 2008 (both the
&#147;<U>Parties</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, in conjunction with an evaluation of obligations and entitlements under the Employment
Agreement, the Company and Mr.&nbsp;Sarvary determined that the Employment Agreement was somewhat ambiguous as to the precise dates upon which various severance and separation compensations described in Section&nbsp;3.2 thereof would be paid upon
Mr.&nbsp;Sarvary&#146;s separation from service with the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Parties to the Employment Agreement determined that
an amendment thereto would be appropriate to clarify the time at which separation compensations would be provided and to ensure compliance with Internal Revenue Code Section&nbsp;409A; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS, </B>the Employment Agreement provides that the Parties agree pursuant to Section&nbsp;6.3 that the Employment Agreement may be
amended at any time by mutual agreement and provides pursuant to Section&nbsp;6.8 that the Parties mutually agree to adopt any amendment as maybe necessary to facilitate compliance with Code Section&nbsp;409A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE, </B>the Parties hereto agree to amend the Employment Agreement pursuant to Sections 6.3 and 6.8 as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">The following is added as a separate paragraph at the end of Section&nbsp;3.2(a): </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;The
payments described in clauses (i), (ii), (iii)&nbsp;and (iv)&nbsp;above shall be made, or commence in the case of payments described under clause (iii)&nbsp;above, on the Company&#146;s first regular payroll date that occurs after the required
waiver and release becomes irrevocable but in no event later than 90 days following Employee&#146;s separation from employment; <U>provided,</U> <U>however</U>, that (a)&nbsp;such waiver and release shall be delivered to the Employee on or before
the 14<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day following separation from employment and (b)&nbsp;if such payments could be paid (or commence to be paid) in or during either of two calendar years depending on the date such waiver
and release is executed by Employee and delivered to the Company, such payments shall be made (or commence to be made in case of the payments described in clause (iii)&nbsp;above) on the later of January&nbsp;15, or the date such release is
delivered and becomes non- revocable, of such later calendar year.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">The following is added as a separate paragraph at the end of Section&nbsp;3.2(b): </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;The
payments described in clause (iii)&nbsp;above shall be made on the Company&#146;s first regular payroll date that occurs after the required waiver and release becomes irrevocable but in no event later than 90 days following Employee&#146;s
separation from employment; <U>provided,</U> <U>however</U>, that (a)&nbsp;such waiver and release shall be delivered to the Employee on or before the 14<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day following separation from employment
and (b)&nbsp;if such payments could be paid (or commence to be paid) in or during either of two calendar years depending on the date such waiver and release is executed by Employee and delivered to the Company, such payments shall be made (or
commence to be made in case of the payments described in clause (iii)&nbsp;above) on the later of January&nbsp;15, or the date such release is delivered and becomes non-revocable, of such later calendar year.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of this 22nd day of May, 2015. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">The Company</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">TEMPUR SEALY INTERNATIONAL, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">/s/ Brad Patrick 5/27/15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President, Chief Human</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Resources Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Employee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">/s/ Mark Sarvary 5/25/15</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d935740dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Tempur Sealy International, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1000 Tempur Way </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Lexington,
Kentucky 40511 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May&nbsp;22, 2015 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark A. Sarvary </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Tempur Sealy International, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1000 Tempur Way </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lexington, KY 40511 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B><U>Termination of Employment </U> </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Sarvary: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;30, 2008 you and Tempur Sealy International, Inc., a Delaware corporation (formerly known as &#147;<U>Tempur-Pedic International
Inc</U>.&#148; and referred to below as the &#147;<U>Company</U>&#148;), entered into an Employment and Non-Competition Agreement (as amended by the First Amendment thereto, the &#147;<U>Employment Agreement</U>&#148;). Each capitalized term used
herein but not defined shall have the meaning ascribed to it in the Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with the termination right
granted to the Company in Section&nbsp;3.1(a) of the Employment Agreement, this letter will confirm the Company has terminated your employment not For Cause, with your termination of employment to be effective May&nbsp;31, 2015, and you agree not to
apply for or accept future employment with the Company or any of its wholly or partially owned subsidiaries or affiliates. This letter serves as notice and confirmation of your termination of employment with the Company. We have provided a separate
letter confirming the details of your exit package under the Employment Agreement (the &#147;<U>Confirmation Letter</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We would
also like to take this opportunity to remind you that, notwithstanding the termination of your employment with the Company, certain of your obligations under the Employment Agreement and other agreements that you may have signed during your
employment with the Company continue. These obligations include, but may not be limited to, obligations relating to Confidential Information and Trade Secrets, as well as non-competition and non-solicitation, as set forth in Article IV of the
Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter agreement will also confirm our agreement on several other matters, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Cooperation</U>. You agree that through July&nbsp;31, 2015 you will be reasonably available by phone and email for consultation on
transition matters and providing information to other members of the senior management team and the Company&#146;s Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.
<U>Reimbursement of Legal Expenses</U>. The Company agrees to reimburse you for reasonable fees and expenses of your legal counsel in connection with providing advice with respect to your departure and the review and negotiation of this letter
agreement and related exit documentation, up to a total of $10,000. This reimbursement will be made promptly after receipt of supporting documentation in reasonable detail. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Non-Disparagement</U>. The Company agrees that it will not issue any press release or make
any other official public statements that disparage you; <U>provided</U> <U>however</U>, that nothing in the foregoing shall be deemed to prevent the Company from complying with its disclosure obligations under applicable law, legal process,
subpoena, the rules of any stock exchange, or legal requirement or as part of a response to a request for information from any governmental authority with jurisdiction over the party from whom information is sought. You agree that you will not issue
any press release or make any other public statements that disparage the Company; <U>provided</U> <U>however</U>, that nothing in the foregoing shall be deemed to prevent you from complying with your disclosure obligations under applicable law,
legal process, subpoena, the rules of any stock exchange, or legal requirement or as part of a response to a request for information from any governmental authority with jurisdiction over the party from whom information is sought. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Computer Files</U>. The Company will provide you with a copy of your Outlook and calendar list from your computer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Outplacement Services</U>. The Company will provide you with outplacement services from a vendor selected by the Company, so long as the
total cost for the services does not exceed $50,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Release and Waiver</U>. As consideration for the promises and consideration
made by the Company in Sections 1-5 of this letter agreement, and as a condition precedent to receiving certain of the payments and benefits set forth in the Confirmation Letter, you agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>Definitions</U>. You agree that, by entering into this letter agreement, you are binding your heirs, executors, administrators,
insureds and assigns, as well as any and all others acting through or on your behalf.&nbsp;You also agree that your release of the Company, set out below, includes a release of the Company&#146;s present and former parent(s), wholly owned or
partially owned subsidiaries and affiliates as well as all of their agents, directors, stockholders, officers, employees, representatives, attorneys, divisions and all of their predecessors, successors, heirs, executors, administrators and assigns,
in each case in its capacity as listed above (collectively, the &#147;<U>Releasees</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>Full General Release of All
Claims</U>. You agree to release the Releasees from any and all legal and equitable claims, of any nature whatsoever, against any of the Releasees, arising out of events occurring before, on or as of the date of execution of this letter agreement as
set forth on your signature line hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>Specific Release of All Other Employment Law Claims</U>.&nbsp;You agree that, except as
provided in Section&nbsp;6.6 of this letter agreement, claims being released under Section&nbsp;6.2 include, but are not limited to, any and all claims against Releasees arising under any federal, state or local statutes, ordinances, resolutions,
regulations or constitutional provisions&nbsp;and/or common law(s), from any and all actions, causes of action, lawsuits, debts, charges, complaints, liabilities, obligations, promises, agreements, controversies, damages and expenses of any and
every nature whatsoever, both legal and equitable, whether known or unknown, which you had, have ever had, now have or may have against them, including, but not limited to, (a)&nbsp;any and all claims which were, or could have been asserted in any
lawsuit, (b)&nbsp;any and all claims arising out of your employment by the Company and separation from said employment, (c)&nbsp;any and all claims of discrimination or retaliation arising under local, state or federal law including, but not limited
to, Title VII of the Civil Rights Act of 1964, 42 U.S.C. &#167;&#167; 2000e et seq.; 42 U.S.C. &#167;&#167; 1981, 1981A, 1983 and 1985; the Americans With Disabilities Act, 42 U.S.C. &#167;&#167; 12101 et seq.; the Federal Rehabilitation Act of
1973; the Family and Medical Leave Act of 1993, 29 U.S.C. &#167;&#167; 2601 et seq.; Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;), 29 U.S.C. &#167;&#167; 301 et </P>

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seq.; Executive Order 11246, each, as amended, and all other such similar statutes, city or county ordinances or resolutions and anti-discrimination laws of the Commonwealth of Kentucky;
(d)&nbsp;any and all tort claims including, but not limited to, claims of wrongful termination, constructive discharge, defamation, invasion of privacy, interference with contract, interference with prospective economic advantage and intentional or
negligent infliction of emotional distress and outrage, (e)&nbsp;any and all contract claims whether express or implied, (f)&nbsp;any and all claims for unpaid wages, benefits or entitlements asserted under the Fair Labor Standards Act,
29&nbsp;U.S.C. &#167;&#167; 201 et seq. or under Kentucky wage and hour laws, (g)&nbsp;any and all claims for unpaid benefits or entitlements asserted under any Company plan, policy, benefits offering or program except as otherwise required by law,
(h)&nbsp;any and all claims under Kentucky workers&#146; compensation laws, (i)&nbsp;any and all claims for attorneys&#146; fees, interest, costs, injunctive relief or reinstatement to which you are, claim to be or may be, entitled, and (j)&nbsp;any
and all claims of age discrimination under the Age Discrimination in Employment Act, 29 U.S.C. &#167;&#167; 621 et seq., as amended, or under local or state civil rights laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Release of ADEA Claims</U><B>.</B>&nbsp;By execution of this letter agreement, you expressly waive any and all rights or claims arising
under the Age Discrimination in Employment Act of 1967 (&#147;<U>ADEA</U>&#148;), 29 U.S.C. &#167;&nbsp;621 <U>et</U> <U>seq</U>., and further expressly acknowledges and understands the following: (a)&nbsp;that the waiver set forth in this
paragraph, including all subparagraphs, is between you as an individual and the Company and the Releasees , and is written in a manner that is fully understood by you; (b)&nbsp;that the waiver set forth in this paragraph, including all
subparagraphs, refers to rights or claims arising under the ADEA; (c)&nbsp;that by your execution of this letter agreement, you do not waive any rights or claims under the ADEA that may arise after the date this letter agreement is executed; and
(d)&nbsp;that the waiver of rights or claims arising under the ADEA contained in this letter agreement is in exchange for the consideration set forth herein and is above and beyond that to which you are entitled; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Assignment of All Claims</U>. Except as reserved in Section&nbsp;6.6 below, you hereby assign to the Company, without restriction, any
and all suits, actions, charges or claims, of any nature whatsoever, known or unknown, accrued or not accrued, against any of the Releasees.&nbsp;You, for and on behalf of you and your beneficiaries, executors, administrators, successors, assigns,
and anyone claiming through or under any of the foregoing, agree that they will not file or otherwise submit any charge, claim, complaint, arbitration request, or action to any agency, court, organization, or judicial forum, including but not
limited to all federal, state, and local forums, against the Releasees.&nbsp;Nor will you permit any person, group of persons, or organization to take such action on your behalf against the Releasees arising out of any actions or non-actions on the
part of the Releasees arising before execution of this letter agreement.&nbsp;You further agree that in the event that any person or entity should bring such a charge, claim, complaint, or action on your behalf, you hereby waive and forfeit any
right to recovery under said claim and will exercise every good faith effort to have such claim dismissed.&nbsp;The provisions of this paragraph or any other paragraph in this letter agreement shall not be construed to prevent you from filing a
charge with the Equal Employment Opportunity Commission or similar agency, only to the extent you are permitted to do so by law, notwithstanding the provisions of this letter agreement to the contrary.&nbsp;<B>You understand that the provisions of
this Section mean that, except as may otherwise be provided by law, you cannot bring a lawsuit in any forum (whether it be foreign, federal, state, or local) against the Releasees for any reason.</B>&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.6 <U>Only Exceptions to Release and Assignmen</U>t. Notwithstanding any other provisions of this letter agreement, nothing in this letter
agreement shall be construed to be a release or assignment of any claim by you for the following: (a)&nbsp;claims against the Company for failure to perform its obligations under this letter agreement; (b)&nbsp;claims against the Company for failure
to perform its obligations under the Employment Agreement or any of the equity award agreements referred to in the Confirmation Letter; and (c)&nbsp;for retirement benefits under any pension, retirement or retirement savings plan qualified under
Section&nbsp;401(a) of the Internal </P>

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Revenue Code of 1986, as amended, in which you are a participant by virtue of your employment with the Company, to benefit claims under any employee welfare benefit plan, including disability or
life insurance, based on events occurring after your execution of this letter agreement, or to any rights you may have to continued health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986. To obtain disbursements
pursuant to any plan identified in this Section, you shall provide the Company with any necessary notices and elections required by the plan documents, ERISA, and any other applicable laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.7 <U>Representations Concerning Certain Claims</U>. You acknowledge that as of the date this letter agreement is executed,
you:&nbsp;(a)&nbsp;have not suffered a work-related injury that has not been properly disclosed to the Company; and (b)&nbsp;have been paid in full all wages due and owing for any and all work performed for the Company, and that you are not aware of
any facts or circumstances constituting a violation by the Company of the Fair Labor Standards Act, the Kentucky wage act or wage orders, or similar state laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.8 <U>Return of Property.</U>&nbsp;You agree to return all Company property prior to the end of May&nbsp;31, 2015, other than the laptop
computer recently given to you by the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Notice</U>. You agree you will promptly provide the Company a new address for any
notices to be delivered pursuant to Section&nbsp;6.1(b) of the Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Miscellaneous</U>. This letter agreement,
together with the Employment Agreement and the equity award agreements referred to in the separate Confirmation Letter constitute the entire understanding and the full and complete agreement of the parties and supersedes and replaces any prior
understandings and agreements among the parties with respect to the subject matter hereof. The provisions of Article V (&#147;Agreement to Submit All Existing Disputes to Binding Arbitration&#148;) and Section&nbsp;6.3 (&#147;Amendment&#148;),
Section&nbsp;6.4 (&#147;Assignability&#148;), Section&nbsp;6.5 (&#147;Severability&#148;), Section&nbsp;6.6 (&#147;Waiver of Breach&#148;), Section&nbsp;6.7 (&#147;Governing Law; Construction&#148;) and Section&nbsp;6.8 (&#147;Tax Compliance&#148;),
of the Employment Agreement will apply to this letter agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>No Wrongdoing by You or the Company</U>. It is understood and
agreed by the parties to this letter agreement that nothing in this letter agreement or the related Confirmation Letter or Employment Agreement constitutes an admission of any liability, violation of law or wrongdoing of any kind or nature
whatsoever on the part of either the Company, the Releasees or you. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Consideration</U>. You acknowledge that you have been advised
to consult with an attorney of your choice prior to signing this letter agreement; and that you have been given at least twenty-one (21)&nbsp;days to review and consider the contents of this letter agreement, but that you may choose to execute the
letter agreement sooner. You further acknowledge that this letter agreement is being signed by you knowingly and voluntarily without coercion or duress and that it is revocable for a seven (7)&nbsp;day period after execution, after which it will
become automatically effective and enforceable without any further act by you unless specifically revoked by you during such seven (7)&nbsp;day period. You understand that the severance pay outlined in this letter, the Confirmation Letter and the
Employment Agreement, and any other consideration hereunder, are conditional upon your execution of this letter agreement and will not be paid until after the seven (7)&nbsp;day revocation period has expired. You further agree and understand that if
you revoke, attempt to revoke or otherwise breach this letter agreement, you must return to the Company the full amount of any severance pay received or provided to you as set forth above or in the Confirmation Letter or in the Employment Agreement,
without offset for any reason at the time of revocation or breach. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Your Representations and Warranties</U>. You represent and warrant that you have done
nothing prior to signing this letter agreement that would violate or that is contrary to any of the covenants set forth herein or in the Confirmation Letter or Employment Agreement. You acknowledge that the Company is entering into this letter
agreement and the Confirmation Agreement in reliance upon your warranties and representations herein and in the Confirmation Letter and Employment Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You have been a great leader for the Company over the years you have served as CEO, and you can be proud of your many accomplishments at
Tempur Sealy. We thank you for your service to the Company and wish you the best of luck in your future endeavors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Please sign where
indicated below to confirm your agreement with the foregoing. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">Best regards,</TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3">TEMPUR SEALY INTERNATIONAL, INC.</TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top">/s/ Brad Patrick 5/27/15</TD></TR>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President, Chief Human</TD></TR>
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<TD VALIGN="top">Resources Officer</TD></TR>
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<TD VALIGN="top" COLSPAN="3">Agreement Confirmed:</TD></TR>
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<TD VALIGN="top">/s/&nbsp;Mark&nbsp;Sarvary</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;Date: May 25, 2015</TD></TR>
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<TD VALIGN="top">Mark Sarvary</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Date] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Name of Eligible US-based Employee] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[ADDRESS] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear [Name of Eligible US-based Employee]: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As you know, Tempur Sealy International, Inc. (&#147;Tempur Sealy&#148; or the &#147;Company&#148;) recently experienced a change in leadership. In order to
encourage you to remain with the Company and to create additional incentives to meet the Company&#146;s performance goals for 2015, you have been selected to participate in a Retention Program as more fully described in Appendix A attached to this
letter (the &#147;Retention Program&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with and subject to the terms and conditions of the Tempur Sealy International, Inc. Severance
and Retention Plan (the &#147;Retention Plan&#148;)<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> the following is an outline of the Retention Program applicable to you: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Retention Performance Criteria</B>: The Company appreciates and values your service as an important part of the executive team. You have been approved to
receive a cash retention award provided you: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">remain employed through May&nbsp;31, 2016 (the &#147;Retention Period&#148;) and fulfill each of your employment obligations and other applicable Retention Plan requirements (except as set forth below); and
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">the Company satisfies a threshold Adjusted EBITDA target for the year ending December&nbsp;31, 2015, as defined in the Retention Program attached to this letter as Appendix A. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash Retention Award</B>: In accordance with the Retention Plan, you will be entitled to a cash retention award (the &#147;Cash Award&#148;) in the amount
of $[<I>Dollar Amount]</I> if the Retention Performance Criteria described above are met. The Cash Award will be paid in a single lump sum within 60 days following the last day of the Retention Period, if the Cash Award is considered earned. If,
prior to the end of the Retention Period, the Company terminates your employment other than for &#147;Cause&#148; or you resign from your employment for &#147;Good Reason,&#148; each as defined in the Retention Plan,<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP> the Cash Award will be paid as described in Appendix A to this letter. You will not be entitled to receive the Cash Award if your employment terminates for any other reason prior to the end of the
Retention Period. </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Please note, the agreement for each eligible employee who has an employment agreement will contain the following clause between the words &#147;Plan&#148; and &#147;the&#148;: &#147;&#133;and consistent with your
employment agreement dated [date]&#148;. </TD></TR></TABLE>
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<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Please note agreement for each eligible employee who has an employment agreement which defines the term &#147;Cause&#148; or &#147;Good Reason,&#148; will, if applicable, define such term as it is defined in his or her
employment agreement. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your employment with the Company is considered at-will. This means that either you or the Company may terminate
your employment at any time, with or without cause. Accordingly, neither this letter, nor any other oral or written representations, should be considered a contract for a specific period of time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Retention benefits paid or payable under this Retention Program are subject to the provision of the Retention Plan and applicable law, including but not
limited to Section&nbsp;3.3 governing tax withholding obligations and Section&nbsp;7.17 governing treatment of payments subject to Section&nbsp;409A of the Internal Revenue Code of 1986, as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please sign and return one copy of this letter to me to signify your agreement to participate in the Retention Program described in this letter. Should you
have any questions or require clarification of any aspects of this Retention Program, please do not hesitate to contact me. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3">W. Timothy Yaggi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Interim President and Chief Executive Officer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Tempur Sealy International, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Name of Eligible US-based Employee]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Executive Retention Program </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>May &nbsp;&nbsp;&nbsp;&nbsp;, 2015 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
accordance with and subject to the terms and conditions of the Tempur Sealy International, Inc. Severance and Retention Plan (the &#147;Retention Plan&#148;), this executive retention program (the &#147;Retention Program&#148;) has been developed to
address retention concerns as a result of the recent change in leadership at both the Board of Directors and the Executive level. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Eligibility and Rationale</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executive Committee members play a critical leadership role
as the Company evolves and works through the changes ahead and delivers on the commitments to stockholders, consumers, customers and all associates. As a result, Executive Committee members (referred to as &#147;Executives&#148;) have been selected
to participate in this Retention Program developed under the Retention Plan to reinforce the Company&#146;s commitment to these eligible participants as the Company works through the changes and creates greater clarity for the business. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Retention Performance Criteria</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executives have been approved to receive a cash
retention award if the following criteria are met: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive remains employed through May&nbsp;31, 2016 (the &#147;Retention Period&#148;) and fulfills employment obligations and other applicable Retention Plan requirements (except as set forth herein); and
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Company meets an &#147;Adjusted EBITDA Threshold&#148; for 2015 as described below </TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Cash Retention Award</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The cash retention award will be paid in a single lump sum within
60 days following the last day of the Retention Period provided the retention performance criteria described above are met. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If the Company
terminates the Executive&#146;s employment other than for &#147;Cause&#148; or the Executive resigns from employment for &#147;Good Reason&#148; (as defined in Retention Plan or, if the Executive has an employment agreement, in the Executive&#146;s
employment agreement) prior to the end of the Retention Period, the cash retention award will be paid in a single lump sum within 60 days following the later of: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive&#146;s termination of employment, provided that the Executive has delivered an executed release and waiver in a form satisfactory to the Company and such release has become effective prior to the close of such
60 day period; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the date the Compensation Committee and the Board of Directors have determined that the &#147;Adjusted EBITDA Threshold,&#148; as defined below, has been met. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executives will not be entitled to receive the cash retention award if they terminate for any other reason before the end of the Retention
Period &#150; May&nbsp;31, 2016. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Retention Program Administration</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">This Retention Program will be administered by the
Compensation Committee (&#147;Compensation Committee&#148;) of the Board of Directors of the Company as the designee of the administering &#147;Committee&#148; as defined in the Retention Plan, and the Compensation Committee will have the full power
and authority to administer and interpret this Retention Program. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Executive Retention Program </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>May &nbsp;&nbsp;&nbsp;&nbsp;, 2015 </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
All determinations by the Compensation Committee in administering and interpreting the provisions of this Retention Program will be final, conclusive and binding on the Company, the eligible
employees selected to participate in the Retention Program and all other interested parties in accordance with Section&nbsp;5.3 of the Retention Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Retention benefits paid or payable under this Retention Program are subject to the provision of the Retention Plan and applicable law,
including but not limited to laws and regulations governing tax withholding and similar obligations. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>&#147;Adjusted EBITDA&#148; For Purposes of Retention Program</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Except as noted below,
all calculations are to be based on generally accepted accounting principles (&#147;GAAP&#148;) applied on a basis consistent with Tempur Sealy&#146;s financial statements included in its SEC filings, except that all calculations will be on a
constant currency basis using 2015 spot foreign exchange rates in effect on April&nbsp;17, 2015 except for the period from January&nbsp;1, 2015 to March&nbsp;31, 2015. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Definition</U>: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#147;Adjusted EBITDA&#148; with respect to Tempur Sealy, means Tempur Sealy&#146;s consolidated net income adjusted to exclude interest expense, taxes, depreciation and amortization (including stock based compensation
amortization) and other adjustments that are allowed under the Company&#146;s 2012 Credit Agreement with respect to the definition of &#147;Consolidated EBITDA&#148; to be excluded from Consolidated EBITDA, on a constant currency basis as described
above and in any event including the adjustments described below if the Compensation Committee exercises its discretion. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Minimum Performance</U></B>:<B> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">No cash retention award will be payable if the &#147;Adjusted EBITDA Threshold&#148; of $444 million is not achieved for the year ended December&nbsp;31, 2015. The Adjusted EBITDA Threshold ($444 million) represents the
consensus analysts&#146; estimate as of May&nbsp;27, 2015 (based on the simple average of Adjusted EBITDA for those Wall Street analysts that cover Tempur Sealy). </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Adjustments to Adjusted EBITDA Threshold</U>: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><U>Discretionary Adjustments</U>: In its determination of whether the Adjusted EBITDA Threshold has been satisfied, the Compensation Committee shall have the discretion to include or exclude certain items not
contemplated in the Company&#146;s April&nbsp;21, 2015 Financial Forecast utilized by the Company to update financial guidance on the 1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> quarter Earnings Call held on April&nbsp;28, 2015,
including but not limited to: restructuring charges, asset impairments, gains/(losses) related to sales of assets, gains/(losses) from litigation or regulatory actions, effect of changes in accounting principles and/or tax laws, separation costs
incurred related to the prior CEO, costs incurred to recruit and retain a new CEO, costs incurred associated with the 2015 Annual Meeting and related events and similar stockholder actions in the future, costs incurred related to the Retention
Program or any other unusual or non-recurring item or items. </TD></TR></TABLE>
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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>d935740dex104.htm
<DESCRIPTION>EX-10.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Date] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Name of Eligible non-US based Employee] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[address] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Name of Eligible non-US based Employee]: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As you know, Tempur
Sealy International, Inc. (&#147;Tempur Sealy&#148; or the &#147;Company&#148;) recently experienced a change in leadership. In order to encourage you to remain with the Company and to create additional incentives to meet the Company&#146;s
performance goals for 2015, you have been selected to participate in a Retention Program as more fully described in Appendix A attached to this letter (the &#147;Retention Program&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with and subject to the terms and conditions of the Tempur Sealy International, Inc. Severance and Retention Plan (the &#147;Retention
Plan&#148;), and consistent with your employment agreement dated [date], the following is an outline of the Retention Program applicable to you: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Retention Performance Criteria</B>: The Company appreciates and values your service as an important part of the executive team. You have been approved to
receive a cash retention award provided you: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">remain employed through May&nbsp;31, 2016 (the &#147;Retention Period&#148;) and fulfill each of your employment obligations and other applicable Retention Plan requirements (except as set forth below); and
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">the Company satisfies a threshold Adjusted EBITDA target for the year ending December&nbsp;31, 2015, as defined in the Retention Program attached to this letter as Appendix A. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash Retention Award</B>: In accordance with the Retention Plan, you will be entitled to a cash retention award (the &#147;Cash Award&#148;) payable in
[Eligible Employee&#146;s local currency] in an amount equivalent to $[specified amount in USD] on the date of payment, if the Retention Performance Criteria described above are met. The Cash Award will be paid in a single lump sum within 60 days
following the last day of the Retention Period, if the Cash Award is considered earned. If, prior to the end of the Retention Period, the Company terminates your employment pursuant to Section&nbsp;14.1 of your Employment Agreement or you resign
from your employment for &#147;Good Reason&#148; as defined in the Retention Plan, the Cash Award will be paid as described in Appendix A to this letter. You will not be entitled to receive the Cash Award if your employment terminates for any other
reason prior to the end of the Retention Period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Retention benefits paid or payable under this Retention Program are subject to the provision of the
Retention Plan and applicable law, including but not limited to Section&nbsp;3.3 governing tax withholding obligations and Section&nbsp;7.17 governing treatment of payments subject to Section&nbsp;409A of the Internal Revenue Code of 1986, as
amended from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please sign and return one copy of this letter to me to signify your agreement to participate in the Retention
Program described in this letter. Should you have any questions or require clarification of any aspects of this Retention Program, please do not hesitate to contact me. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">W. Timothy Yaggi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Interim President and Chief Executive Officer Tempur Sealy International, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Name of Eligible non-US based Employee]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Executive Retention Program </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>May &nbsp;&nbsp;&nbsp;&nbsp;, 2015 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
accordance with and subject to the terms and conditions of the Tempur Sealy International, Inc. Severance and Retention Plan (the &#147;Retention Plan&#148;), this executive retention program (the &#147;Retention Program&#148;) has been developed to
address retention concerns as a result of the recent change in leadership at both the Board of Directors and the Executive level. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Eligibility and Rationale</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executive Committee members play a critical leadership role
as the Company evolves and works through the changes ahead and delivers on the commitments to stockholders, consumers, customers and all associates. As a result, Executive Committee members (referred to as &#147;Executives&#148;) have been selected
to participate in this Retention Program developed under the Retention Plan to reinforce the Company&#146;s commitment to these eligible participants as the Company works through the changes and creates greater clarity for the business. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Retention Performance Criteria</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executives have been approved to receive a cash
retention award if the following criteria are met: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive remains employed through May&nbsp;31, 2016 (the &#147;Retention Period&#148;) and fulfills employment obligations and other applicable Retention Plan requirements (except as set forth herein); and
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Company meets an &#147;Adjusted EBITDA Threshold&#148; for 2015 as described below </TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Cash Retention Award</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The cash retention award will be paid in a single lump sum within
60 days following the last day of the Retention Period provided the retention performance criteria described above are met. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If the Company
terminates the Executive&#146;s employment other than for &#147;Cause&#148; or the Executive resigns from employment for &#147;Good Reason&#148; (as defined in Retention Plan or, if the Executive has an employment agreement, in the Executive&#146;s
employment agreement) prior to the end of the Retention Period, the cash retention award will be paid in a single lump sum within 60 days following the later of: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive&#146;s termination of employment, provided that the Executive has delivered an executed release and waiver in a form satisfactory to the Company and such release has become effective prior to the close of such
60 day period; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the date the Compensation Committee and the Board of Directors have determined that the &#147;Adjusted EBITDA Threshold,&#148; as defined below, has been met. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Executives will not be entitled to receive the cash retention award if they terminate for any other reason before the end of the Retention
Period &#150; May&nbsp;31, 2016. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Retention Program Administration</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">This Retention Program will be administered by the
Compensation Committee (&#147;Compensation Committee&#148;) of the Board of Directors of the Company as the designee of the administering &#147;Committee&#148; as defined in the Retention Plan, and the Compensation Committee will have the full power
and authority to administer and interpret this Retention Program. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Executive Retention Program </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>May &nbsp;&nbsp;&nbsp;&nbsp;, 2015 </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
All determinations by the Compensation Committee in administering and interpreting the provisions of this Retention Program will be final, conclusive and binding on the Company, the eligible
employees selected to participate in the Retention Program and all other interested parties in accordance with Section&nbsp;5.3 of the Retention Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Retention benefits paid or payable under this Retention Program are subject to the provision of the Retention Plan and applicable law,
including but not limited to laws and regulations governing tax withholding and similar obligations. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>&#147;Adjusted EBITDA&#148; For Purposes of Retention Program</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Except as noted below,
all calculations are to be based on generally accepted accounting principles (&#147;GAAP&#148;) applied on a basis consistent with Tempur Sealy&#146;s financial statements included in its SEC filings, except that all calculations will be on a
constant currency basis using 2015 spot foreign exchange rates in effect on April&nbsp;17, 2015 except for the period from January&nbsp;1, 2015 to March&nbsp;31, 2015. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Definition</U>:</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#147;Adjusted EBITDA&#148; with respect to Tempur Sealy, means Tempur Sealy&#146;s consolidated net income adjusted to exclude interest expense, taxes, depreciation and amortization (including stock based compensation
amortization) and other adjustments that are allowed under the Company&#146;s 2012 Credit Agreement with respect to the definition of &#147;Consolidated EBITDA&#148; to be excluded from Consolidated EBITDA, on a constant currency basis as described
above and in any event including the adjustments described below if the Compensation Committee exercises its discretion. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Minimum Performance</U></B>: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">No cash retention award will be payable if the &#147;Adjusted EBITDA Threshold&#148; of $444 million is not achieved for the year ended December&nbsp;31, 2015. The Adjusted EBITDA Threshold ($444 million) represents the
consensus analysts&#146; estimate as of May&nbsp;27, 2015 (based on the simple average of Adjusted EBITDA for those Wall Street analysts that cover Tempur Sealy). </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Adjustments to Adjusted EBITDA Threshold</U>:</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><U>Discretionary Adjustments</U>: In its determination of whether the Adjusted EBITDA Threshold has been satisfied, the Compensation Committee shall have the discretion to include or exclude certain items not
contemplated in the Company&#146;s April&nbsp;21, 2015 Financial Forecast utilized by the Company to update financial guidance on the 1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> quarter Earnings Call held on April&nbsp;28, 2015,
including but not limited to: restructuring charges, asset impairments, gains/(losses) related to sales of assets, gains/(losses) from litigation or regulatory actions, effect of changes in accounting principles and/or tax laws, separation costs
incurred related to the prior CEO, costs incurred to recruit and retain a new CEO, costs incurred associated with the 2015 Annual Meeting and related events and similar stockholder actions in the future, costs incurred related to the Retention
Program or any other unusual or non-recurring item or items. </TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g935740ex99_1logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TEMPUR SEALY NAMES JON L. LUTHER AS DIRECTOR </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>LEXINGTON, KY, JUNE 1, 2015</B> &#150; Tempur Sealy International, Inc. (NYSE: TPX), the world&#146;s largest bedding provider, today announced that its
Board of Directors has voted to elect Jon L. Luther to the Board of Directors and the Nominating and Corporate Governance Committee of the Board of Directors. Mr.&nbsp;Luther will also serve on the CEO Search Committee formed by the Board of
Directors to lead the search for a new Chief Executive Officer for the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jon L. Luther served as Chief Executive Officer of Dunkin&#146; Brands
from January 2003 to January 2009 and Chairman from March 2006 to January 2009. In January 2009, he assumed the role of Executive Chairman and became non-Executive Chairman from July 2010 until his retirement in May 2013. Prior to Dunkin&#146;
Brands, Mr.&nbsp;Luther was President of Popeyes, a division of AFC Enterprises, from February 1997 to December 2002. Prior to Popeyes, Mr.&nbsp;Luther served as President of CA One Services, a subsidiary of Delaware North Companies, Inc. and served
as President and CEO of Benchmark Services, Inc., a food services company he founded. Earlier in his career, Mr.&nbsp;Luther held various leadership positions at Marriott Corporation and ARAMARK. Mr.&nbsp;Luther is a member of the board of directors
of Six Flags Entertainment Corporation and Brinker International, Inc., and is the Chairman of the Board of Arby&#146;s Restaurant Group. Mr.&nbsp;Luther holds a degree in hotel and restaurant management from Paul Smith&#146;s College. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;I am pleased to welcome Jon Luther to our Board of Directors. He is a proven business leader, with a strong track record of profitably growing large
global consumer branded businesses. Jon has a keen understanding of the consumer and notable brand development expertise. As CEO of Dunkin&#146; Brands, he led the company&#146;s highly successful brand repositioning under the &#147;America Runs on
Dunkin&#148; marketing umbrella. He also has significant relevant experience as a public company CEO and a director of other high-performance public companies. I am confident Jon will make substantial contributions to our Company as one of our two
new independent directors added to the Board since our 2015 Annual Meeting,&#148; stated Frank Doyle, Chairman of the Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Luther
said, &#147;I am honored to join the Board of Directors of Tempur Sealy, an iconic globally-recognized company with best-in-class products, brands and employees. I look forward to collaborating with my fellow directors and the management team to
generate value for all of the Company&#146;s stockholders.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About the Company </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tempur Sealy International, Inc. (NYSE: TPX) is the world&#146;s largest bedding provider. Tempur Sealy International develops, manufactures and markets
mattresses, foundations, pillows and other products. The Company&#146;s brand portfolio includes many of the most highly recognized brands in the industry, including Tempur&reg;, Tempur-Pedic&reg;, Sealy&reg;, Sealy Posturepedic&reg;, Optimum<SUP
STYLE="font-size:85%; vertical-align:top">&#153;</SUP> and Stearns&nbsp;&amp; Foster&reg;. World headquarters for Tempur Sealy International is in Lexington, KY. For more information, visit www.tempursealy.com or call 800-805-3635. </P>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
