Compensation Arrangement for Lisa M. Harper, Chief Creative Officer

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation terms for Lisa M. Harper as Chief Creative Officer. She will receive a base salary of $645,000, a bonus targeted at 100% of her salary, health benefits, and a 401(k) with a 4% match after six months. If she is involuntarily terminated (not for death, disability, or cause) within 18 months after a change of control, she will receive a lump sum equal to three times her annual salary plus a pro-rated bonus and 18 months of benefits. For other involuntary terminations, she will receive a lump sum equal to 50% of her base salary.

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EX-10.69 4 v16354exv10w69.htm EXHIBIT 10.69 exv10w69  

EXHIBIT 10.69
KEY TERMS OF COMPENSATION ARRANGEMENT
     
NAME:   Lisa M. Harper
     
TITLE:   Chief Creative Officer
     
BASE SALARY:   $645,000
     
BONUS PLAN:   Target payout at 100% of base salary.
     
HEALTH BENEFITS:   Medical, dental and vision insurance.
     
401K:   4% match, eligible after 6 months.
     
MANAGEMENT CHANGE OF CONTROL
PLAN: 		  If involuntary termination, but not for
death, disability or cause, at any time
within 18 months following the change of
control, eligible to receive a payment equal
to three times annual salary and a
pro-rated bonus, in a single lump sum
payment, less applicable taxes, and benefits
coverage for 18 months.
     
MANAGEMENT SEVERANCE PLAN:   Eligible to receive a lump sum severance
payment equal to 50% of gross base salary if
involuntarily terminated other than for
death, disability or cause.