SECOND AMENDMENT TO CHICOS FAS, INC. VICE PRESIDENT SEVERANCE PLAN
Exhibit 10.36
SECOND AMENDMENT
TO
CHICOS FAS, INC. VICE PRESIDENT SEVERANCE PLAN
WHEREAS, Chicos FAS, Inc. (the Employer) maintains the Chicos FAS, Inc. Vice President Severance Plan (the Plan) for the benefit of its eligible employees;
WHEREAS, the Employer deems it necessary and desirable to amend the Plan to clarify the timing of payment of severance benefits under the Plan; and
WHEREAS, this Second Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of the amendment;
NOW, THEREFORE , by virtue of the authority reserved to the Employer by Section 7.1 of the Plan, the Plan is hereby amended, effective January 1, 2013, as follows:
| Section 5.01 of the Plan is hereby amended to delete the first sentence thereof and replace it with a new sentence which shall read as follows: |
A Participants Benefit shall be paid in accordance with normal payroll practices, with the first payment commencing on the first payroll date occurring following the completion of a sixty (60) day period after the Participants Employment Termination Date, provided the Participant has executed and not revoked the Separation Agreement within such sixty (60) day period; otherwise, no benefits are payable to the Participant under the Plan.
IN WITNESS WHEREOF, the Employer has caused this amendment to be executed by a duly authorized representative this 10th day of January, 2013.
Chicos FAS, Inc. | ||
By: | /s/ Sara K. Stensrud | |
EVP-Chief Human Resources Officer |