Amendment Number Three to The Dress Barn, Inc. 162(m) Executive Bonus Plan by Ascena Retail Group, Inc.

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the executive bonus plan originally established by The Dress Barn, Inc., now maintained by Ascena Retail Group, Inc. The changes include renaming the plan and all references from The Dress Barn, Inc. to Ascena Retail Group, Inc., and changing the plan’s governing law from Connecticut to Delaware. The amendment takes effect upon the completion of the company’s reorganization. The parties involved are Ascena Retail Group, Inc. and its executive bonus plan participants.

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EX-10.12 6 v232560_ex10-12.htm EXHIBIT 10.12
Exhibit 10.12

AMENDMENT NUMBER THREE

TO THE

THE DRESS BARN, INC. 162(m) EXECUTIVE BONUS PLAN
 
WHEREAS, subject to the consummation of the reorganization (the “Reorganization”) of The Dress Barn, Inc. (“DBI”), Ascena Retail Group, Inc. (the “Company”), as successor to DBI, maintains The Dress Barn, Inc. 162(m) Executive Bonus Plan (the “Plan”); and
 
WHEREAS, the Company desires to amend the Plan, effective upon the consummation of the Reorganization, to update the Plan’s name and any references to DBI therein, and to change the Plan’s governing law to reflect the Company’s state of incorporation.
 
NOW, THEREFORE, the Plan is hereby amended, effective upon the consummation of the Reorganization, as follows:
 
1.           Section 2(c) of the Plan is amended in its entirety to read as follows:
 
“(c)       “Company” - shall mean Ascena Retail Group, Inc., and any successor by merger, consolidation or otherwise.”
 
 
2.
Section 2(n) of the Plan is amended in its entirety to read as follows:
 
“(n)       “Plan” - shall mean this Ascena Retail Group, Inc. Executive 162(m) Bonus Plan.”
 
3.           Any remaining references in the Plan to “The Dress Barn, Inc.” are hereby replaced with “Ascena Retail Group, Inc.”
 
 
 
 
 
4.           Section 13 of the Plan is hereby amended to delete the reference to “Connecticut” and replace it with “Delaware.”
  
IN WITNESS WHEREOF, the Company has caused this amendment to be executed this 17th day of December, 2010.
 
 
ASCENA RETAIL GROUP, INC.
   
 
By: /s/ Armand Correia
   
 
Title: EVP, CFO