Chico’s FAS, Inc. Executive Bonus Program Participation Agreement with Michael J. Kincaid

Contract Categories: Business Finance › Participation Agreements
Summary

This agreement between Chico’s FAS, Inc. and Michael J. Kincaid sets the terms for his participation in the company’s executive bonus programs. It requires Mr. Kincaid to repay any bonus received if, within two years, the company must restate its financials due to misconduct and he was involved or failed to prevent it. The agreement ensures compliance with financial reporting laws and the Sarbanes-Oxley Act.

Read More Arrow
EX-10.3 4 g12170exv10w3.htm EX-10.3 PARTICIPATION AGREEMENT - MICHAEL J. KINCAID Ex-10.3 Participation Agreement - Michael J. Kinca  

         
EXHIBIT 10.3
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 Michael J. Kincaid (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/ Scott A. Edmonds    
    Title: Chairman, President & CEO    
       
 
         
  PARTICIPANT:
 		  
  Michael J. Kincaid    
  Participant’s Name — Please Print    
     
 
         
     
  /s/ Michael J. Kincaid    
  Participant’s Signature