Mueller Water Products CEO Zakas agrees to drop single-trigger severance benefits
Mueller Water Products amended the employment terms of CEO Marietta Edmunds Zakas through a letter agreement dated December 9, 2024, effective December 4, 2024. Her prior agreement had provided full severance if she was terminated without cause or for good reason even without a change in control; she has agreed to forgo that benefit, so the change-in-control terms now apply only after a change in control. Her base salary floor, bonus and incentive targets, and several perquisites are unchanged or were modestly enhanced.
Key points
- Letter agreement dated December 9, 2024, effective December 4, 2024, supersedes the August 21, 2023 side letter
- Zakas agreed to forgo full severance on termination without cause or for good reason absent a change in control
- Salary floor of $900,000; target bonus of at least 110% and target long-term incentive of at least 333% of base salary
- Car allowance raised from $1,500 to $2,000 per month; financial planning reimbursement up to $10,000 per year
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 11, 2024.
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