Boot Barn Holdings, Inc. Amended and Restated Cash Incentive Plan for Executives
BOOT BARN HOLDINGS, INC.
AMENDED AND RESTATED CASH INCENTIVE PLAN FOR EXECUTIVES
The purpose of the Boot Barn Holdings, Inc. Amended and Restated Cash Incentive Plan for Executives (the “Plan”) is to enhance the ability of Boot Barn Holdings, Inc. to attract, reward and retain employees, to strengthen employee commitment to its success and to align employee interests with those of its stockholders by providing variable compensation, based on the achievement of performance objectives. To this end, the Plan provides a means of rewarding participants based on the performance of the Company and its subsidiaries and business units and, where appropriate, on a participant’s personal performance.
The Plan was originally effective as of August 30, 2017 and is hereby amended and restated effective as of August 26, 2020.
All executive employees of the Company and its subsidiaries are eligible to participate in the Plan. The Committee shall designate which executive employees shall participate in the Plan for each Performance Period. In order to be eligible to receive an Award with respect to any Performance Period, an employee must be actively employed by the Company or a subsidiary on the payment date, except as provided in Section 7 or 8 below.
|5.||Determination of Awards|
|6.||Payment of Awards|
The Committee shall determine achievement of the Performance Goals and the Award, if any, that will be paid by the Company to each Participant, as soon as practicable following the final determination of the Company’s financial results for the relevant Performance Period. Payment of the Awards determined by the Committee shall be made within 2 ½ months following the last day of the Performance Period.
|7.||Limitations on Rights to Payment of Awards|
|8.||Change of Control|
Notwithstanding the foregoing, the Committee may permit a Participant to defer receipt of an Award that would otherwise be payable to the Participant. The Committee shall establish rules and procedures for any such deferrals, consistent with the applicable requirements of Code section 409A.
|10.||Amendment and Termination of the Plan|
The Committee may amend or terminate this Plan at any time, whether prospectively or retroactively and without regard to whether such amendment or termination impairs or enhances a Participant’s rights as in effect prior to such amendment or termination. In the case of termination of the Plan other than in connection with a Change of Control, the Committee may determine that each Participant may receive a pro-rated portion of the Award that would
otherwise have been earned for the then current Performance Period had the Plan not been terminated, as determined by the Committee. Each Award payable in accordance with this Section 10 shall be paid as described in Section 6 above.