Amendment to Severance Provisions for Shawn Curran – Gap Inc.

Contract Categories: Human Resources › Severance Agreements
Summary

This letter agreement between Gap Inc. and Shawn Curran extends the severance provisions in Curran's original offer letter until June 30, 2024. After that date, any severance will be determined by the Compensation and Management Development Committee under the same terms as other executive officers. All other terms of the original offer letter remain unchanged.

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EX-10.5 6 exhibit105q32020.htm CURRAN AMENDMENT Document

Exhibit 10.5
Two Folsom Street
San Francisco, CA 94105


November 20, 2020


Shawn Curran    


Dear Shawn:

This letter is to confirm the extension of the existing severance provisions, which are outlined in the “Termination/Severance” section of your offer letter dated March 5, 2020 (“Offer Letter”). The Compensation and Management Development Committee of the Board of Directors (“the Committee”) has approved the extension of such severance provisions to June 30, 2024 with no other changes to such provisions.

After June 30, 2024, you will be eligible for severance, if any, as approved by the Committee under the same terms as similarly situated executive officers.

Other than as set forth above, the terms of your Offer Letter remain in effect.

Yours sincerely,



/s/ Sonia Syngal                                      
Sonia Syngal
President & Chief Executive Officer, Gap Inc.






/s/ Shawn Curran                                 
Shawn Curran



Date: November 20, 2020