Amendment to Hartmarx Corporation Management Incentive Plan (November 26, 2007)

Summary

This amendment to the Hartmarx Corporation Management Incentive Plan, approved by the Compensation and Stock Option Committee, sets a deadline for payment of incentive awards. All annual incentive awards must be paid by March 15 following the fiscal year in which they are earned, and longer-term awards must be paid by March 15 after the last fiscal year in which the bonus was measured. The amendment clarifies payment timing for eligible participants in the plan.

EX-10.B.2 2 dex10b2.htm AMENDMENT TO HARTMARX CORPORATION MANAGEMENT INCENTIVE PLAN. Amendment to Hartmarx Corporation Management Incentive Plan.

Exhibit 10-B-2

AMENDMENT TO HARTMARX CORPORATION

MANAGEMENT INCENTIVE PLAN

as Approved by

Compensation and Stock Option Committee

November 26, 2007

 

The Hartmarx Corporation Management Incentive Plan, as adopted by the Compensation and Stock Option Committee on January 19, 2004, and as approved by stockholders on April 15, 2004, is hereby amended as follows:

New Section 6.3. is added to the Management Incentive Plan:

“6.3 Payment of Awards. Payment of all incentive awards for a completed fiscal year will be paid by not later than March 15 following the fiscal year in which such bonus was earned; and for longer term awards, payment shall be made not later than March 15 following the last fiscal year in which such bonus was measured and earned.”

Approved this 26th day of November, 2007, by authority of the Compensation and Stock Option Committee of the Board of Directors of Hartmarx Corporation.