our ability to continue to have the necessary liquidity, through cash flows from operations and availability under our amended and restated revolving credit facility, may be adversely impacted by a number of factors, including the level of our operating cash flows, our ability to maintain established levels of availability under, and to comply with the financial and other covenants included in, our amended and restated revolving credit facility and the borrowing base requirement in our amended and restated revolving credit facility that limits the amount of borrowings we may make based on a formula of, among other things, eligible accounts receivable and inventory; the minimum availability covenant in our amended and restated revolving credit facility that requires us to maintain availability in excess of an agreed upon level and whether holders of our Convertible Notes issued in June 2009 will, if and when such notes are convertible, elect to convert a substantial portion of such notes, the par value of which we must currently settle in cash

Contract Categories: Business Finance - Credit Agreements
EX-10.C 2 y89679exv10wc.htm EX-10.C exv10wc
EXHIBIT 10(c)
 
DESCRIPTION OF LIZ CLAIBORNE, INC.
2010 EMPLOYEE INCENTIVE PLAN
 
For the 2010 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 gross corporate costs, 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 2011.