Amendment to Offer Letter Between Chico’s FAS, Inc. and Shelley Broader (April 14, 2016)
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Summary
This letter agreement amends Shelley Broader’s October 26, 2015 Offer Letter with Chico’s FAS, Inc. It clarifies that, under the severance terms, a "Change in Control" as defined in the company’s Stock Plan will be considered "Good Reason" for severance if it leads to a significant reduction in duties or responsibilities, including changes in reporting relationships. The amendment is signed by both the Chair of the Board and Shelley Broader, and is effective as of April 14, 2016.
EX-10.1 2 exhibit101amendmenttobroad.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
CONFIDENTIAL
April 14, 2016
Shelley Broader
Chief Executive Officer & President
Chico’s FAS, Inc.
11215 Metro Parkway
Fort Myers, FL 33966
Dear Shelley:
The purpose of this letter is to memorialize an amendment to your October 26, 2015 Offer Letter, as follows:
Under Paragraph 8, Severance, the third sentence shall be revised to read in its entirety as follows: “Furthermore, a “Change in Control” as defined in the Stock Plan shall constitute “Good Reason” under Section 3.02(e)(1) of the Severance Plan if such Change in Control results in a substantial diminution in duties or responsibilities (including a change in reporting relationships).”
Sincerely,
/s/ David F. Walker
David F. Walker
Chair Board of Directors
Chico’s FAS, Inc.
Accepted: | /s/ Shelley Broader | |
Shelley Broader | ||
Date: | April 14, 2016 | |
