Lands’ End, Inc. Retention Bonus Agreement with James Gooch (March 29, 2017)

Summary

Lands’ End, Inc. agrees to pay James Gooch a one-time retention bonus of $312,500, to be paid in cash around April 16, 2017. If Mr. Gooch leaves the company before February 2, 2018, he must repay the full bonus unless his departure is due to certain exceptions, such as termination without cause, resignation for good reason, death, or disability. Repayment must be made within 30 days of his last day of employment. This agreement is effective upon Mr. Gooch’s signature.

EX-10.48 13 a20170127exhibit1048goochr.htm EXHIBIT 10.48 Exhibit

Exhibit 10.48

Effective as of March 29, 2017

Dear Jim:

Upon your execution of this letter agreement, you will be entitled to receive a one-time special retention bonus of $312,500 (“Retention Bonus”) from Lands’ End, Inc. (the “Company”). The Retention Bonus will be paid in cash on or about April 16, 2017 (subject to withholding and payroll taxes). If your employment with the Company terminates prior February 2, 2018, you will be required to repay the full amount of the Retention Bonus, including any taxes withheld, to the maximum extent permitted by law, unless such termination is (a) by the Company other than for Cause (as defined in your Executive Severance Agreement with the Company, dated as of January 27, 2016 (the “ESA”)), (b) by you for Good Reason (as defined in the ESA) or (c) due to your death or Disability (as defined in the ESA). Such repayment must be made to the Company within thirty (30) days of your last day as an employee of the Company.

Sincerely,

LANDS’ END, INC.

By: /s/ Kelly Ritchie

Name: Kelly Ritchie

Title: Senior Vice President, Employee and Customer Services

Accepted and agreed to as of March 29, 2017

/s/ James Gooch

James Gooch