Retention Bonus Agreement between Eddie Bauer and Ann Perinchief (March 5, 2007)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Eddie Bauer is offering Ann Perinchief, SVP of Retail, a retention bonus of $75,000, paid in installments over 10 months, as recognition for her key role during the company's transition to a stand-alone entity. Payments are scheduled for April 6, 2007, September 7, 2007, and January 25, 2008, but are contingent on her continued employment and CEO approval at each payout date. Participation in this program is confidential and limited to select individuals.

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EX-10.4 5 v30261exv10w4.htm EXHIBIT 10.4 exv10w4  

Exhibit 10.4
March 5, 2007
Ann Perinchief
SVP, Retail
Dear Ann:
As we move forward as a stand-alone company, your leadership and focus on the business is essential. To that end, I am pleased to offer you a retention bonus of $75,000. This bonus is in recognition of the key role you will play in our future success.
We will pay this Retention Bonus over the course of the next 10 months. Please see the table below for your payment schedule.
                 
Payment Date   Percentage of Bonus     Payout  
April 6, 2007
     25 %   $ 18,750  
September 7, 2007
     45 %   $ 33,750  
January 25, 2008
     30 %   $ 22,500  
 
                
Total
     100 %   $ 75,000  
 
                
Each payment above will be paid to you when deemed earned by the CEO. You must be actively employed with Eddie Bauer on the date of payout to receive your bonus payments.
Please note that only a very limited number of individuals have been selected to participate in this program, it is imperative and expected that you keep your participation confidential. If you have any questions on this program, please contact Shannon Brown or Stacey Ragsdale.
Thank you for your continued commitment and leadership to the company and to the Brand.
Sincerely,
/s/ Howard Gross
Howard Gross