First Amendment to Employment Agreement between The Warnaco Group, Inc. and Jay Dubiner
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Summary
This amendment updates the employment agreement between The Warnaco Group, Inc. and Jay Dubiner. It modifies the terms regarding the payment of a pro-rata bonus to the executive if his employment ends without cause or for good reason, specifically by removing a condition related to the company's CEO. All other terms of the original agreement remain unchanged.
EX-10.11 12 c22837exv10w11.htm EXHIBIT 10.11 Exhibit 10.11
Exhibit 10.11
First Amendment to Employment Agreement
This First Amendment to the employment agreement by and between THE WARNACO GROUP, INC., a Delaware corporation (together with its successors and assigns, the Company), and JAY DUBINER (the Executive), dated as of August 11, 2008 (the Agreement), is made and entered into on the date written below. All definitions not defined herein have the meaning ascribed to such terms in the Agreement.
WHEREAS, the Company desires to amend the Agreement to provide a pro-rata bonus for the Executive upon certain terminations of employment without Cause or for Good Reason;
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the receipt of which is mutually acknowledged, the Company and the Executive agree as follows:
1. Section 5(a)(iv) of the Agreement is amended by deleting the phrase if the Date of Termination occurs after Joseph Gromek is no longer Chief Executive Officers of the Company.
2. Except as otherwise set forth herein, the Agreement continues in full force and effect.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date written below.
THE WARNACO GROUP, INC. | ||||||||
By: | /s/ Joseph R. Gromek | |||||||
Name: | Joseph R. Gromek | |||||||
Title: | Chief Executive Officer | |||||||
THE EXECUTIVE | ||||||||
/s/ Jay Dubiner | ||||||||
JAY DUBINER |
Date: October 31, 2011