EX-10.56
from 10-K
19 pages
Position Senior Vice President & Chief Human Resources Officer, Reporting to Fran Horowitz, Chief Executive Officer Start Date to Be Determined Base Salary $600,000 Annually; Paid Bi-Weekly. Your Annual Salary Will Be Reviewed Again in March 2022. Ic Bonus Program You Will Be Eligible to Participate in A&F’S Designated Officer Annual Incentive Compensation (Ic) Program Beginning in Fiscal Year 2021, at a Target Payout Level of 75% of Your Annual Base Salary and a Maximum Payout of 150% of Your Annual Base Salary. if You Begin Employment With US After the Start of Fiscal 2021, Your Ic Eligibility for 2021 May Be Pro-Rated Based on Your Start Date. Ic for You and Other Designated Officers Will Be Based on Annual Company Financial Results, and if Earned Will Typically Be Paid in March Following the Conclusion of the Prior Fiscal Year, Subject to Participants’ Being Actively Employed on the Payout Date. (Please Note That the Designated Officer Annual Ic Program Is Subject to Change Each Year in the Discretion of the Compensation Committee of the A&F Board of Directors (The “Compensation Committee”)). Sign-On Bonus Upon Your Commencement of Employment, A&F Will Provide You a One-Time Sign-On Bonus of $250,000. This Sign-On Bonus (Less Applicable Taxes and Other Withholdings) Will Be Made Along With Your First Regular Paycheck. in Order to Obtain This Payment, You Will Be Required to Sign an Agreement to Repay the Sign-On Bonus in Full if You Resign or Are Terminated for Gross Misconduct Within Twenty-Four (24) Months of Your Start Date
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