Abercrombie & Fitch Co. Executive Committee Compensation Structure Change Agreement (Effective August 1, 2009)
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Summary
Abercrombie & Fitch Co. has updated the compensation structure for its Executive Committee members, effective August 1, 2009. Due to increased responsibilities related to executive succession planning and director compensation oversight, the Board of Directors approved new annual retainers: $25,000 for the Executive Chair and $12,500 for each Executive Member. This agreement outlines the new pay structure for these roles within the company.
EX-10.32 2 c93304exv10w32.htm EXHIBIT 10.32 Exhibit 10.32
Exhibit 10.32
ABERCROMBIE & FITCH CO.
CHANGE IN COMPENSATION STRUCTURE FOR EXECUTIVE COMMITTEE MEMBERS,
EFFECTIVE AUGUST 1, 2009
CHANGE IN COMPENSATION STRUCTURE FOR EXECUTIVE COMMITTEE MEMBERS,
EFFECTIVE AUGUST 1, 2009
With the recent reassignment of responsibility for some members of the Board of Directors (the “Board”) of Abercrombie & Fitch Co. (the “Registrant”) and the critical need to more closely monitor executive succession plans and best practices in director compensation, the Executive Committee of the Board will take on additional responsibilities going forward. In light of the additional responsibilities, the Board adopted a new compensation structure for the Executive Committee. At the Board meeting held on August 13, 2009, the Board approved the following compensation structure for the Executive Committee, effective August 1, 2009.
| Committee | Role | Annual Retainer | ||||
Executive | Chair | $ | 25,000 | |||
Executive | Member | $ | 12,500 | |||
