Lands’ End, Inc. Annual Incentive Plan Additional Definitions (2015)

Summary

This document provides additional definitions and adjustment criteria for the Annual Incentive Plan (AIP) of Lands’ End, Inc. It outlines how the company calculates post-incentive EBITDA for performance periods and specifies adjustments the Compensation Committee may make to financial goals or results. These adjustments account for factors such as currency fluctuations, large legal settlements, changes in laws or accounting methods, asset impairments, business sales or acquisitions, restructuring costs, and extraordinary items. The goal is to ensure fair and consistent evaluation of financial performance for incentive purposes.

EX-10.1 2 a20154308-kexhibit101aipad.htm AIP DEFINITIONS 2015.4.30 8-K EXHIBIT 10.1 AIP Additional Definition

EXHIBIT 10.1

2015 Additional Definition

Under

Lands’ End, Inc.

Annual Incentive Plan

(As Amended and Restated)

Corporate Post-Incentive EBITDA

Earnings before interest, taxes, depreciation and amortization for the Performance Period computed as operating income appearing on the Company’s statement of operations for the applicable reporting period, adjusted for depreciation, amortization, gains/(losses) on sales of assets and other items the Company determines affects the comparability of financial statements. In determining AIP financial goal achievement, the Compensation Committee shall adjust either the performance target or actual results to reflect the following occurrences affecting the Company during the performance period:


•	the effects of currency fluctuations in comparison to plan currency rates


•	gains or losses from litigation, claim judgments, or regulatory proceedings including product recalls or legal and insurance settlements that, in each case, individually exceed $500,000


•	the effect of changes in laws, regulations, or accounting principles, methods or estimates


•	write down or impairment of assets


•	the gain or loss from the sale or discontinuance of a business segment, division, or unit, and the planned, unrealized EBITDA for this business segment, division, or unit


•	results from an unplanned acquired business and costs related to the unplanned acquisition


•	restructuring and severance costs pursuant to a plan approved by the board and CEO


•	the impact of the unplanned termination or loss of store leases


•	extraordinary items as defined by GAAP