Kate Spade & Company 2015 Employee Incentive (Cash Bonus) Plan Description
Kate Spade & Company established a 2015 bonus plan for full-time salaried employees and certain executives. Bonuses were awarded based on the company's or segment's adjusted operating income compared to set targets, as well as departmental and individual performance. The plan was subject to specific terms and conditions, and a similar structure was expected for 2016. The plan aimed to reward employees for meeting financial and performance goals.
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EXHIBIT 10(a)
DESCRIPTION OF KATE SPADE & COMPANY
2015 EMPLOYEE INCENTIVE PLAN (CASH)
For the 2015 fiscal year, Kate Spade & Company maintained a bonus plan for full time salaried employees under which bonuses were earned based upon either Adjusted operating income of the segment or total Company, as measured against pre-established targets, and, as applicable, departmental performance considerations and the achievement of individual goals, subject to certain terms and conditions. In addition, for the 2015 fiscal year, Kate Spade & Company maintained a bonus plan for certain executives under which bonuses were earned based on total Company Adjusted operating income, also as measured against pre-established targets, and, as applicable, departmental performance considerations and the achievement of individual goals, subject to certain terms and conditions. A similar bonus plan is anticipated for 2016, with financial targets measured based on similar metrics.
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- EXHIBIT 10(a)
