Kate Spade & Company 2014 Employee Incentive (Cash Bonus) Plan Description
Kate Spade & Company established a 2014 bonus plan for full-time salaried employees and certain executives. Bonuses were awarded based on the company's or segment's adjusted operating income, free cash flow, departmental performance, and individual goals, all measured against pre-set targets. The executive plan weighted 75% of the bonus on operating income and 25% on free cash flow. The plan was subject to specific terms and conditions, and a similar structure was expected for 2015.
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EXHIBIT 10(a)
DESCRIPTION OF KATE SPADE & COMPANY
2014 EMPLOYEE INCENTIVE PLAN (CASH)
For the 2014 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 2014 fiscal year, Kate Spade & Company maintained a bonus plan for certain executives under which bonuses were earned based on total Company Adjusted operating income (75% of target bonus) and total Company free cash flow (25% of target bonus), 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 2015, with financial targets measured based on similar metrics.
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- EXHIBIT 10(a)
