Amendment to Severance Provisions for Nancy Green – Gap Inc.

Contract Categories: Human Resources › Severance Agreements
Summary

Gap Inc. and Nancy Green have agreed to extend the severance terms in her October 5, 2020 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-10.6 7 exhibit106q32020.htm GREEN AMENDMENT Document

Exhibit 10.6
Two Folsom Street
San Francisco, CA 94105

November 20, 2020


Nancy Green    


Dear Nancy:

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 October 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/ Nancy Green                                        
Nancy Green



Date: November 20, 2020