GNRC Generac Holding Inc

Appointment of Chief Operations Officer

On January 31, 2020, Generac Holdings Inc. (the “Company”) appointed Tom Pettit, age 51, to the newly created position of Chief Operations Officer (“COO”), effective February 17, 2020. Since 2017, Mr. Pettit served as Executive Vice President and Chief Integrated Supply Chain Officer of nVent Electric plc, a leading global provider of electrical connection and protection solutions and a former subsidiary of Pentair plc (“Pentair”), a global industrial company. Mr. Pettit previously served as the Operations Vice President of Pentair since 2015, and as the Chief Operating Officer for BioScrip, Inc., a provider of infusion and home care management solutions, from 2014-2015.

Mr. Pettit will receive an annual base salary of $365,000, and will be eligible to participate in the Annual Performance Bonus Plan (“Bonus Plan”) and to receive annual equity grants under the Company’s Equity Incentive Plan (“Equity Plan”). Mr. Pettit’s target bonus under the Bonus Plan for fiscal 2020 will be 65% of his annual base salary, with the opportunity to earn up to 130% of his base salary. Mr. Pettit’s target equity grant under the Equity Plan for fiscal 2020 will be 175% of his annual base salary. In the event Mr. Pettit’s employment with the Company is terminated without cause in the first 24 months of employment, he will receive salary continuation payments and benefits continuation for 12 months, subject to signing a release of claims and compliance with certain post-employment covenants, including non-competition and non-solicitation of employees. Mr. Pettit will also receive certain relocation benefits, including without limitation reimbursement of certain moving expenses and temporary living accommodations, subject to repayment if Mr. Pettit leaves the Company within one year of relocation. In connection with his hire, Mr. Pettit will receive a one-time sign-on bonus consisting of a $100,000 cash payment and a grant of restricted stock in the amount of $350,000 that will vest in equal installments over the first three years of his employment..

There is no arrangement or understanding between Mr. Pettit and any other person pursuant to which he was selected as COO. There is also no family relationship between Mr. Pettit and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.