Chico’s FAS, Inc. Executive Bonus Program Participation Agreement with Scott A. Edmonds

Contract Categories: Business Finance › Participation Agreements
Summary

This agreement is between Chico’s FAS, Inc. and Scott A. Edmonds, a key employee selected to participate in the company’s executive bonus programs. It states that if the company must restate its financial results within two years due to misconduct and Edmonds was involved or failed to prevent it, he must repay any bonus received. The agreement is signed by both parties and sets conditions for bonus eligibility and repayment in case of financial reporting issues.

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EX-10.1 2 g12170exv10w1.htm EX-10.1 PARTICIPATION AGREEMENT - SCOTT A. EDMONDS Ex-10.1 Participation Agreement - Scott A. Edmonds  

EXHIBIT 10.1
CHICO’S FAS, INC.
EXECUTIVE BONUS PROGRAMS
PARTICIPATION AGREEMENT
     This Participation Agreement is entered into this 3rd day of March, 2008, by and between Chico’s FAS, Inc. (the “Company”) and Scott A. Edmonds (the “Participant”).
     WHEREAS, the Participant is a key employee of the Company selected by the Company to participate in one or more executive bonus programs (the “Programs”); and
     WHEREAS, as a condition to receiving any bonus payable pursuant to any of the Programs, the Participant acknowledges and agrees to be bound by the following condition:
Repayment of Bonus. If (a) within the two-year period immediately following payment of any Bonus under any Program the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any then applicable financial reporting requirement under the securities laws, and (b) the Participant is subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002 or knowingly engaged in the misconduct, was grossly negligent in engaging in the misconduct, knowingly failed to prevent the misconduct or was grossly negligent in failing to prevent the misconduct, then the Participant shall reimburse the Company for the amount of any such Bonus paid under any Program.
IN WITNESS WHEREOF, the parties have executed this Participation Agreement on the date first written above.
         
  CHICO’S FAS, INC.
 		  
  By:   /s/ Kent Kleeberger    
    Title: EVP & CFO    
       
 
         
  PARTICIPANT:
 		  
  Scott A. Edmonds    
  Participant’s Name — Please Print    
     
 
         
     
  /s/ Scott A. Edmonds    
  Participant’s Signature