Liz Claiborne, Inc. 2011 Employee Incentive Bonus Plan Description
Liz Claiborne, Inc. offered a bonus plan in 2011 for full-time salaried employees. Bonuses were awarded based on divisional operating profit or total corporate gross profit compared to set targets, and could also consider departmental and individual performance. The plan was subject to specific terms and conditions. A similar plan was expected for 2012, with financial targets based on adjusted results.
EXHIBIT 10(c)
DESCRIPTION OF LIZ CLAIBORNE, INC.
2011 EMPLOYEE INCENTIVE PLAN
For the 2011 fiscal year, Liz Claiborne Inc. maintained a bonus plan for full time salaried employees under which bonuses were earned based upon either divisional operating profit or total corporate gross profit, 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 2012, with financial targets measured based on divisional or total company adjusted results.
