Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS Employment Agreement is entered into as of this 9th
day of March 2006 (the “Commencement Date”), by and between Ernest R.
Johnson, (“Johnson”) and Cutter & Buck Inc., a Washington corporation
(“Cutter & Buck”).

 

WHEREAS, Johnson is currently employed by Cutter &
Buck as its Chief Financial Officer and Senior Vice President; and

 

WHEREAS, Cutter & Buck now wishes to employ
Johnson as its Chief Executive Officer, and Johnson desires to accept Cutter &
Buck’s employment in that capacity;

 

NOW, THEREFORE, in consideration of the mutual
agreements set forth below, the parties agree as follows:

 

1.                                       Employment
Duties. Cutter & Buck hereby employs Johnson and Johnson hereby
accepts employment on the terms and conditions set forth by this Agreement. Johnson
shall serve as Chief Executive Officer. In that capacity, subject to the
direction and control of the Cutter & Buck’s Board of Directors (the “Board”),
Johnson shall exercise general supervision and control over Cutter &
Buck’s property, business and affairs. Johnson shall devote his full-time
efforts to Cutter & Buck and shall not undertake self-employment, nor
shall he perform any services or undertake employment for any other
employer except as may be approved in advance by the Board. Johnson
further agrees to participate in no other activities during his employment that
may conflict with the best interest of Cutter & Buck.

 

2.                                       Compensation.

 

a.                                       Base
Compensation. Cutter & Buck agrees to pay Johnson a base salary of
Four Hundred Thousand Dollars ($400,000) per annum, less all lawful and
applicable withholdings and deductions, payable on a basis conforming to the
established payroll practices of Cutter & Buck.

 

b.                                      Incentive
Compensation in Addition to Base Salary. In addition to the basic
compensation set forth above, Johnson shall be entitled to receive such
performance-based incentive compensation as shall be determined by the
Compensation Committee of the Board.

 

3.                                       Term.
This Agreement shall continue through July 31, 2007, subject to earlier
termination in accordance with its provisions. Upon its expiration, unless
earlier terminated in accordance with its provisions, this Agreement, shall be
renewed automatically upon the same terms and conditions for successive periods
of one year, commencing August 1, unless otherwise negotiated and agreed
upon by the parties. The successive one year renewals shall also be subject to
the earlier termination provisions of this Agreement.

 

4.                                       Retirement
Plans. Subject to the satisfaction of eligibility requirements, Johnson
shall participate in Cutter & Buck’s qualified pension, profit-sharing
or other deferred

 

 

compensation plan or combination thereof, if any as offered or amended
at Cutter & Buck’s discretion.

 

5.                                       Time
Off. Johnson shall receive time off for holidays in accordance with Cutter &
Buck’s policies. Subject to Cutter & Buck’s policies regarding limits
on accrual and payout, Johnson shall be entitled to sixteen (16) days of paid
time off per year, accruable at the rate of 4.92 hours per pay period.

 

6.                                       Reimbursable
Expenses. Johnson shall be entitled to reimbursement for all reasonable and
necessary expenses including cell phone charges incurred by Johnson and
approved by Cutter & Buck in connection with Cutter & Buck’s
business, including (i) the cost of up to two season tickets for any two
Seattle-based professional sports franchises; (ii) entertainment and
promotional expenses; and (iii) other direct expenses approved by Cutter & Buck.
All such reimbursements shall be paid monthly, provided Johnson has furnished
to Cutter & Buck such supporting documentation as Cutter &
Buck may reasonably require.

 

7.                                       Insurance.
Johnson shall receive similar medical, dental, group disability and life
insurance coverage provided to all other employees of Cutter & Buck
and upon the same terms and conditions.

 

8.                                       Termination   Notwithstanding
the Term of this Agreement or any renewals, this Agreement may be
terminated by either party as set forth below:

 

a.                                       Termination
Without Cause. Cutter & Buck may terminate Johnson’s
employment hereunder without Cause upon written notice to Johnson. In the event
of termination of Johnson by Cutter & Buck without Cause, and
contingent upon Johnson’s execution of a release of all claims against Cutter &
Buck and its officers, directors, employees and agents, Cutter & Buck
shall pay Johnson as a separation payment a sum equal to twelve
(12) months of his base compensation as of the date of his termination,
less all appropriate deductions (the “Separation Benefit”). Such sum shall be
payable in twelve (12) equal monthly installments. Notwithstanding the
foregoing, in the event that Johnson is terminated without cause under
circumstances that would give rise to a right to a Severance Payment under the
provisions of the Amended and Restated Change in Control Agreement executed
contemporaneously with this Agreement (the “Change in Control Agreement”),
Johnson’s right to receive a Separation Benefit under this Agreement, will be
subject to the provisions of the Change in Control Agreement. Under no
circumstances will Johnson be entitled to receive both a Separation Benefit
under this Agreement and a Severance Payment under the Change in Control
Agreement that would exceed the amount to which he would be entitled under the
Change in Control Agreement.

 

b.                                      Termination
for Cause. Cutter & Buck may terminate Johnson’s employment
hereunder for “Cause” as that term is defined below:

 

(i)                                     Johnson’s
failure to perform substantially his responsibilities under this
Agreement, after demand for substantial performance has been given by Cutter &
Buck that specifically identifies how Johnson has not substantially performed
his responsibilities,

 

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(ii)                                  Johnson’s
conviction of any felony or of a misdemeanor involving fraud, dishonesty or
moral turpitude or the entry against him of any civil judgment arising from
allegations of fraud, dishonesty or moral turpitude, or any violation of law
which has a material adverse effect on Cutter & Buck,

 

(iii)                               Johnson’s breach of this
Agreement that results in financial or reputational detriment to Cutter &
Buck,

 

(iv)                              Johnson’s
misconduct in the performance of his duties under the Agreement that results in
financial or reputational detriment to Cutter & Buck,

 

(v)                                 Johnson’s
breach of Cutter & Buck’s Code of Ethics or Insider Trading Policy, as
now in effect or as modified in the future,

 

(vi)                              Johnson’s
theft or embezzlement from Cutter & Buck, or

 

(vii)                           Johnson’s attempt to
obstruct or failure to cooperate with any investigation authorized by Cutter &
Buck or any governmental or self-regulatory entity.

 

In the event of termination “for Cause,” all obligations of Cutter &
Buck to pay compensation under this Agreement will immediately cease and
Johnson shall be entitled to no further compensation of any kind with the
exception of base compensation accrued to the date of termination.

 

c.                                       Resignation
without Good Reason. Should Johnson wish to terminate his employment with
Cutter & Buck without Good Reason (as defined below) during the term
of this Agreement, Johnson shall give sixty (60) days prior written notice
to Cutter & Buck specifying the date on which such resignation is to
become effective. In the event of a resignation without Good Reason, Cutter &
Buck shall have no further obligations to pay compensation to Johnson under
this Agreement other than to pay Johnson his base compensation through the date
of resignation. At Cutter & Buck’s sole option, it may elect to
end Johnson’s service at a date earlier than specified in Johnson’s written
notice and pay his compensation through the end of a sixty (60) day notice
period.

 

d.                                      Resignation
with Good Reason. Johnson may terminate his employment hereunder for “Good
Reason” as that term is defined below:

 

(i)                                     The
material diminution of Johnson’s position, duties, responsibilities or status
with Cutter & Buck,

 

(ii)                                  Cutter &
Buck’s assignment of Johnson on a substantially full-time basis to work at a
location where the distance between the new location and Johnson’s principal
residence is at least 30 miles greater than the distance between the former
location and such residence,

 

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(iii)                               Any reduction in Johnson’s
base salary, or a material reduction in benefits payable to Johnson or the
failure of Cutter & Buck to pay Johnson any earned salary, bonus or
benefits except with Johnson’s prior written consent,

 

(iv)                              Cutter &
Buck’s failure to obtain an assumption of the obligations incumbent upon Cutter &
Buck under this Agreement by any successor to Cutter & Buck,

 

(v)                                 The
exclusion or limitation of Johnson from participating in some form of
variable compensation plan which provides Johnson the opportunity to achieve a
level of total compensation consistent with Johnson’s potential compensation
under this Agreement, or

 

(vi)                              Any
demand by any director of the Company that Johnson take any action or refrain
from taking any action where such action or inaction, as the case may be,
would violate any law, rule, regulation or other governmental pronouncement,
court order, decree or judgment, or breach any agreement or fiduciary duty.

 

In the event of a resignation by Johnson for Good Reason, and
contingent upon Johnson’s execution of a release of all claims against Cutter &
Buck and its officers, directors, employees and agents, Cutter & Buck
shall pay Johnson a sum equal to twelve (12) months of his base
compensation as of the date of his resignation, less all appropriate deductions
(the “Separation Benefit”). Such sum shall be payable in twelve (12) equal
monthly installments. Notwithstanding the foregoing, in the event that Johnson
resigns for good reason under circumstances that would give rise to a right to
a Severance Payment under the provisions of the Change Control Agreement
executed contemporaneously with this Agreement, Johnson’s right to receive a
Separation Benefit under this Agreement, will be subject to the provisions of
the Change in Control Agreement. Under no circumstances will Johnson be
entitled to receive both a Separation Benefit under this Agreement and a
Severance Payment under the Change in Control Agreement that would exceed the
amount to which he would be entitled under the Change in Control Agreement.

 

e.                                       Death.
This Agreement, Johnson’s employment hereunder, and Cutter & Buck’s
obligations hereunder shall terminate forthwith upon the death of Johnson and
Cutter & Buck shall have no further obligation to pay compensation to
Johnson or Johnson’s estate, successors or beneficiaries under this Agreement other
than to pay Johnson’s base salary through the date of death.

 

f.                                         Disability.
If Johnson shall fail or be unable to perform this services required under
this Agreement, with or without reasonable accommodation, because of any
physical or mental disability, and such failure or inability shall continue for
three consecutive months or for a total of ninety (90) days during any
consecutive twelve (12) month period, Cutter & Buck shall have
the right to terminate this Agreement thirty days after delivering written
notice of such termination to Johnson; provided, however, that Johnson shall
continue to receive his base compensation to the date of termination.

 

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9.                                       Trade
Secrets and Confidential Information.

 

a.                                       Johnson
agrees that both during and after the Term of the Agreement he will keep
confidential and not disclose or use confidential information relating to
Cutter & Buck’s customers, personnel, designs, pricing, sourcing,
manufacturing and distribution policies, methods of doing business, sales
volume information, business prospects or plans, or any other proprietary
information which is not otherwise available to the general public, including,
but not limited to, information covered under the Uniform Trade Secrets
Act, RCW 19.108 et. seq., except in furtherance of the interests of Cutter &
Buck.

 

b.                                      Johnson
acknowledges that Cutter & Buck’s business and future success depend
upon the preservation of the trade secrets and other confidential information
of Cutter & Buck, its subsidiaries, and their suppliers and customers
(the “Secrets”). The Secrets may include, without limitation, existing and
to-be-developed or acquired product designs, new product plans or ideas, market
surveys, the identities of past, present or potential customers, business and
financial information, pricing methods or data, terms of contracts with present
or past customers, proposals or bids, marketing plans, personnel information,
procedural and technical manuals and practices, servicing routines, and parts
and supplier lists proprietary to Cutter & Buck, its subsidiaries or
their customers or suppliers, and any other sorts of items or information of
Cutter & Buck or its subsidiaries or their customers or suppliers
which are not generally known to the public at large. Johnson agrees to protect
and to preserve as confidential during and after the Term all of the Secrets at
any time known to Johnson or in his possession or control (whether wholly or
partially developed by Johnson or provided to Johnson, and whether embodied in
any tangible medium or merely remembered).

 

c.                                       Johnson
shall neither use nor allow any other person to use any of the Secrets in any
way, except for the benefit of Cutter & Buck. All material containing
or disclosing any portion of the Secrets shall be and remain the property of
Cutter & Buck, and shall be returned to Cutter & Buck upon
the termination of Johnson’s employment or at the earlier request of the Board
of Directors. At such time, Johnson shall also assemble all materials in his
possession or control that contain any of the Secrets, and promptly deliver
such items to Cutter & Buck.

 

10.                                 Intellectual
Properties.

 

a.                                       All
ownership, copyright, patent, trade secrecy and other rights in all works,
designs, inventions, ideas, manuals, improvements, discoveries, processes,
customer lists or other properties (the “Intellectual Properties”) made or
conceived by Johnson during the Term and in connection with Johnson’s
employment with Cutter & Buck shall be the right and property solely
of Cutter & Buck, whether developed independently by Johnson or
jointly with others, and whether or not developed or conceived during regular
working hours or at Cutter & Buck’s facilities, and whether or not
Cutter & Buck uses, registers, or markets the same.

 

b.                                      If
and to the extent that Johnson makes use, in the course of his employment, of
any items or Intellectual Properties previously developed by Johnson or
developed by Johnson outside the scope of this Agreement, Johnson hereby grants
Cutter &

 

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Buck a nonexclusive, royalty-free, perpetual, irrevocable, worldwide
license (with right to sublicense) to make, use, sell, copy, distribute,
modify, and otherwise to practice and exploit any and all such items and
Intellectual Properties.

 

c.                                       In
accordance with Cutter & Buck’s policy and Washington law, this section does
not apply to, and Johnson has no obligation to assign to Cutter &
Buck, any invention for which no Cutter & Buck trade secrets and no
equipment, supplies or facilities of Cutter & Buck were used and which
was developed entirely on Johnson’s own time, unless (i) the invention
relates directly to the business of Cutter & Buck; (ii) the
invention relates to actual or demonstrably anticipated research or development
work of Cutter & Buck; or (iii) the invention results from any
work performed by Johnson for Cutter & Buck.

 

d.                                      Johnson
will assist Cutter & Buck as reasonably requested during and after the
term of his employment to further evidence and perfect, and to enforce, Cutter &
Buck’s rights in and ownership of the Intellectual Properties covered hereby,
including without limitation, the execution of additional instruments of
conveyance and assisting Cutter & Buck with applications for patents
or copyright or other registrations.

 

11.                                 Authority
and Non-Infringement. Johnson warrants that to the best of his knowledge
any and all items, technology and Intellectual Properties of any nature
developed or provided by him under this Agreement and in any way for or related
to Cutter & Buck will be original to Johnson and will not, as provided
to Cutter & Buck or when used and exploited by Cutter & Buck
and its contractors and customers and its and their successors and assigns,
infringe in any respect on the rights or property of any third party. Johnson
will not, without prior authorization by the Board, use any equipment,
supplies, facilities or proprietary information of any other party. Johnson
warrants that he is fully authorized to enter into employment with Cutter &
Buck and to perform under this Agreement, without conflicting with any
other commitments, understandings, agreements or duties, whether to prior
employers or otherwise. Johnson agrees to indemnify Cutter & Buck for
all losses, claims and expenses (including reasonable attorneys’ fees) arising
from claims brought against Cutter & Buck as a result of any breach by
Johnson of this section.

 

12.                                 Noncompetition,
Nonsolicitation and Non-Hire.

 

a.                                       Subject
to the provisions of Section 12.d., below, Johnson agrees that, both
during the term and for a period of twelve (12) months following the
termination of Johnson’s employment with Cutter & Buck, Johnson will
not in any capacity, directly or indirectly, engage or invest in, own, manage,
operate, finance, control or participate in the ownership, management,
operation, financing or control of, be employed by, associated with, or in any
manner connected with, lend his name or any similar name to, lend his credit
to, render services or advice to, or assist others to engage in or own a
material interest in any business or activity that is, or is preparing to be,
in competition with Cutter & Buck, its subsidiaries or licensees with
respect to any product or any service sold or provided by Cutter &
Buck directly or through a subsidiary or a licensee of the Cutter &
Buck brand in any geographical area in which such product or service is sold or
is actively engaged in. Notwithstanding any other provision of this section,
however, Johnson shall be permitted to maintain an equity ownership

 

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interest in a competing business if that business is subject to
reporting obligations under the Securities Exchange Act of 1934 and Johnson’s
ownership interest does not exceed two percent (2%) of that entity’s
outstanding equity securities.

 

b.                                      Subject
to the provisions of Section 12.d., below, Johnson further agrees that
both during the Term of this Agreement and for a period of twelve (12) months
following the termination of Johnson’s employment with Cutter & Buck,
Johnson will not:  (i) directly or
indirectly solicit or accept business from any actual or identified potential
customer of Cutter & Buck or its subsidiaries which might reasonably
be foreseen to decrease such customer’s likelihood to transact future business
with Cutter & Buck in a volume consistent with its historical
practices or reasonably anticipated future volume; or (ii) attempt to
entice away from Cutter & Buck or its subsidiaries any actual or
identified potential customer of Cutter & Buck or its subsidiaries,
nor will Johnson assist others in doing so. Johnson further agrees that during
the Term of this Agreement and for a period of twelve (12) months following
termination of his employment with Cutter & Buck, he will not induce
or attempt to induce any customer, supplier, licensee, shareholder, investor,
or business relation of Cutter & Buck to sever or diminish its
relationship with Cutter & Buck, or refrain from doing business with
Cutter & Buck, its subsidiaries, or its licensees or in any way
interfere with the relationship between Cutter & Buck and any
customer, supplier, licensee, shareholder, investor or business relation of
Cutter & Buck.

 

c.                                       Subject
to the provisions of Section 12.d., below, Johnson further agrees that
both during the Term of this Agreement and for a period of twelve (12) months
following the termination of his employment with Cutter & Buck, he
will not, directly or indirectly, for himself or any other person or entity; (i) induce
or attempt to induce any employee, consultant, independent sales representative
or independent contractor of Cutter & Buck to leave the employ of or
terminate his, her or its contract with Cutter & Buck; (ii) in
any way interfere with the relationship between Cutter & Buck and any
employee, consultant, independent sales representative or independent
contractor of Cutter & Buck; or (iii) employ, or otherwise engage
as an employee, consultant, independent sales representative or independent
contractor, or otherwise, any individual serving as an employee, consultant,
independent sales representative or independent contractor of Cutter &
Buck or its subsidiaries on the date this Agreement is executed.

 

d.                                      In
the event that Johnson receives a Severance Payment under the Change in Control
Agreement, then the restrictions set forth in Sections 12.a., 12.b., and 12.c.,
above, shall be extended to require Johnson to comply with those Sections for a
period of twenty-four (24) months from the termination of his employment.

 

e.                                       Nothing
in this Agreement prohibits Johnson from providing truthful testimony to
governmental, regulatory or self regulatory authorities.

 

f.                                         Johnson
acknowledges that the covenants contained in this section are necessary
and reasonable to protect Cutter & Buck in the conduct of its business
and that compliance with such covenants will not prevent him from pursuing his
livelihood. However, should any court find that any provision of such covenants
is unreasonable, invalid or unenforceable, whether in period of time,
geographical area or otherwise, then in that event the

 

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parties hereby agree that such covenants shall be interpreted and
enforced to the maximum extent which the court deems reasonable.

 

13.                                 Remedies.
Johnson acknowledges that any breach by him of the provisions of
Sections 9, 10, 11 or 12 may be wholly or partly irreparable and
not fully compensable by damages. Johnson hereby agrees that such obligations may be
enforced by injunctive relief and other appropriate remedies, as well as by
damages. The remedies available to Cutter & Buck for violations of
Sections 9, 10, 11 and 12 are cumulative and not alternative.

 

14.                                 Amendment;
Waivers. This Agreement may be amended only by a written instrument
signed by both parties. No breach of any agreement, warranty or representation
shall be deemed waived unless expressly waived in writing and signed by the
party who might assert such breach. No failure or delay by either party in
exercising any right under this Agreement shall operate as a waiver of such
right nor shall any single or partial exercise of any right preclude any other
or further exercise of such right or the exercise of any other right.

 

15.                                 Assignment
Prohibited. Johnson may not assign any of his rights nor delegate any
of his duties hereunder. Cutter & Buck may assign this Agreement
and delegate its duties hereunder in connection with any merger, consolidation,
or sale of assets, or to any of its affiliates at any time owned by, or under
common ownership with, Cutter & Buck, provided that any such successor
or assignee expressly assumes in writing Cutter & Buck’s obligations
hereunder .

 

16.                                 Governing
Law. This Agreement, including all matters of construction, validity and
performance, shall be governed by, and construed and enforced in accordance
with, the laws of the State of Washington without regard to its choice of law
provisions.

 

17.                                 Arbitration.
Except for Cutter & Buck’s right to seek injunctive and other relief
in any court of competent jurisdiction for alleged violations of Paragraphs 9,
10, 11 and 12 of this Agreement, all disputes and controversies of every kind
between the parties hereto arising out of or in connection with this Agreement
and their employment relationship shall be submitted to binding arbitration. The
arbitrator shall be appointed by an arbitration service agreed upon by the
parties, or if the parties cannot agree upon an arbitration service, by the
Judicial Dispute Resolution of Seattle, Washington. The arbitration shall take
place in King County, Washington. The determination made by the arbitrator
shall be final and binding upon the parties hereto, subject only to the right
to appeal such decision to the Superior Court on any basis authorized by the
Federal Arbitration Act.

 

18.                                 Notices.
All notices and other communications called for or required by this Agreement
shall be in writing to the parties at their respective addresses stated below,
or to such other address as a party may subsequently specify and shall be
deemed to have been received (i) upon delivery in person, (ii) upon
the passage of seventy-two hours following post by the first class registered
or certified mail, return receipt requested, with postage prepaid, (iii) upon
passage of twenty-four hours following post by overnight receipted courier
service, or (iv) upon transmittal by confirmed telex or facsimile provide
that if sent by facsimile a copy of such notice

 

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shall be concurrently sent by U.S. certified mail, return receipt
requested and postage prepaid, with an indication that the original was sent
facsimile and the date of its transmittal.

 

19.                                 Savings
Clause. If any provision of this Agreement, is held to be invalid or unenforceable
to any extent in any context, it shall nevertheless be enforced to the fullest
extent allowed by law in that and other contexts, and the validity and force of
the remainder of this Agreement shall not be affected thereby.

 

20.                                 Counterparts.
This Agreement may be signed in several counterparts, each of which shall
be an original, but all of which together shall constitute the same instrument.

 

21.                                 Complete
Agreement. This Agreement comprises the entire agreement between the
parties. It supersedes and merges within it all prior agreements, discussions
or understandings between the parties, whether written or oral, express or
implied. In interpreting and construing this Agreement, the fact that any
particular party may have drafted this Agreement or any provision hereof
shall not be given any weight or relevance.

 

22.                                 Costs
and Expenses of Enforcement. If any legal action or arbitration is brought
to interpret or enforce any term or provision of this Agreement, then, subject
to applicable law, the prevailing party shall, in addition to any other relief
to which such party may be entitled, be awarded against the nonprevailing
party, his or its attorney’s fees and costs reasonably and actually incurred.

 

By his signature below, Johnson acknowledges that he has
read and understood this Agreement, that its terms have been fully and fairly
negotiated between himself and Cutter & Buck, that he has had the
opportunity to seek independent legal advice and has obtained such independent
legal advice about the terms and conditions of this Agreement as he sees fit,
and that he signs it and accepts its terms, covenants and restrictions
voluntarily.

 

Executed by the parties as of the date first written
above.

 

	
  CUTTER & BUCK INC.

  	
   

  	
  ERNEST R. JOHNSON

  
	
   

  	
   

  	
   

  
	
  /s/ Douglas G. Southern

  	
   

  	
  /s/ ERNEST R. JOHNSON

  
	
  By Douglas G. Southern

  	
   

  	
   

  
	
  Its Chairman

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Notice Address:

  	
   

  	
  Notice Address:

  
	
   

  	
   

  	
   

  
	
  701 North 34th Street, Suite 400

  Seattle, WA 98103

  Attn: Chairman

  	
   

  	
  c/o Cutter & Buck Inc.

  701 North 34th Street, Suite 400

  Seattle, WA 98103

  

 

9Exhibit 10.2

 

[CUTTER & BUCK
LETTERHEAD]

 

 

              March
7, 2006

 

Ms. Kaia Akre

c/o Cutter & Buck
Inc.

701 N. 34th
Street, Suite 400

Seattle, Washington 98103

 

Re:                             Change
in Control Agreement

 

Dear Kaia:

 

This letter will
confirm our agreement to amend the existing Change in Control Agreement between
you and Cutter & Buck Inc. (the “Company”) dated January 2, 2006 (the
“Existing Agreement”), a copy of which is attached hereto as Exhibit A.  Specifically, paragraph 1(b) of the Existing
Agreement is hereby amended in its entirety to read as follows:

 

The Severance
Payment shall be equal to 125% of Executive’s annual base salary as of the
Termination Date.  If the Termination
Date occurs during the Window but prior to the Control Event, the Severance
Payment shall be reduced by the sum of any severance payments previously
received by Executive from the Company (but not below zero).

 

This amendment will be
effective as of the date hereof.  All
other provisions of the Existing Agreement shall be unaffected by this letter
agreement and shall remain in full force and effect.

 

 

	
   

  	
  Best regards,

  
	
   

  	
   

  
	
   

  	
  CUTTER & BUCK INC.

  
	
   

  	
   

  
	
   

  	
  /s/ John T. Wyatt

  	
   

  
	
   

  	
   

  
	
   

  	
  John T. Wyatt

  
	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  Acknowledged, this 7th
  day of March 2006.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Kaia Akre

  	
   

  	
   

  
	
  Kaia Akre

  	
   

  
				

 

 

EXHIBIT A

 

CHANGE IN CONTROL
AGREEMENT

FOR

KAIA AKRE

 

This Agreement is
entered into this 2nd day of January 2006, by and between
Cutter & Buck Inc. (the “Company”) and Kaia Akre (“Executive”).  Executive is an at-will employee of the
Company.  The parties wish to provide
Executive with severance benefits if Executive’s employment is terminated in
connection with a change in control of the Company.  The Company is willing to provide such
benefits if Executive enters into the Company’s form of Confidentiality,
Non-Competition and Nonsolicitation Agreement for executive officers.

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the covenants and conditions
contained herein, the parties hereby agree as follows:

 

1.                                       CHANGE
IN CONTROL.

 

(a)                                  If,
within the period commencing 90 days prior to the date of occurrence (the
“Event Date”) of a Control Event and ending on the date twelve (12) months
after the Event Date (the “Window”), the Company terminates Executive’s
employment (other than for Cause) or Executive resigns for Good Reason, the
Company shall pay to Executive the Severance Payment in immediately available
funds.  If the termination occurs prior
to the Control Event, the Severance Payment is due on the twentieth business
day following the Event Date; if the termination occurs on or subsequent to the
Event Date, the Severance Payment is due on the twentieth business day
following the date of termination (the “Termination Date”).

 

(b)                                 The
Severance Payment shall be equal to 100% of Executive’s annual base salary as
of the Termination Date.  If the
Termination Date occurs during the Window but prior to the Control Event, the
Severance Payment shall be reduced by the sum of any severance payments previously
received by Executive from the Company (but not below zero).

 

(c)                                  Each
of the following shall constitute a “Control Event”:

 

(1)                                  the
acquisition of Common Stock of the Company (the “Common Stock”) by any “Person”
(as such term is defined in the Rights Agreement dated as of November 20,
1998 between the Company and Mellon Investor Services LLC, including any and
all amendments thereto (the “Rights Plan”), together with all Affiliates and
Associates (as such terms are defined in the Rights Plan) of such Person, such
that such Person becomes, after the date of this Agreement, the Beneficial
Owner (as defined in the Rights Plan) of twenty-five percent (25%) or more of
the shares of Common Stock then outstanding, but shall not include any such
acquisition by (i) the Company, (ii) any subsidiary of the Company,
(iii) any employee or director of the Company as of the date hereof, or
(iv) any employee benefit plan of the Company or of any subsidiary of the
Company or any Person or entity organized, appointed or established by the
Company for or pursuant to the terms of any such employee benefit plan; or

 

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(2)                                  the
consummation of any merger, consolidation, reorganization or other transaction
providing for the conversion or exchange of twenty-five percent (25%) or more
of the outstanding shares of Common Stock into securities of any Person, or
cash, or property, or a combination of any of the foregoing; or

 

(3)                                  the
consummation of any sale or other disposition of all or substantially all of
the assets of the Company; or

 

(4)                                  individuals
who, as of the date hereof, constitute the Company’s Board of Directors (the
“Incumbent Board”) cease for any reason to constitute at least a majority of
the Company’s Board of Directors; provided, however, that any individual
becoming a director subsequent to the date hereof whose election, or nomination
for the election by the Company’s shareholders, was approved by a vote of at
least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of
office occurs as a result of either an actual or threatened election contest or
other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Board of Directors.

 

(d)                                 Each
of the following shall constitute “Good Reason”, provided that it occurs during
the Window:

 

(1)                                  the
material diminution of Executive’s position, duties, responsibilities or status
with the Company or its successor, as compared with the position, duties,
responsibilities or status of Executive with the Company immediately prior to
the Event Date, except in connection with the termination of Executive for
Cause;

 

(2)                                  the
Company’s assignment of Executive on a substantially full-time basis to work at
a location where the distance between the new location and Executive’s
principal residence is at least 30 miles greater than the distance between
the former location and such residence; provided, however, that this paragraph
shall not apply to travel in the furtherance of the Company’s business to an
extent substantially consistent with Executive’s business travel obligations as
of the date hereof;

 

(3)                                  the
Company’s failure to obtain an assumption of the obligations of the Company to
perform this Agreement by any successor to the Company;

 

(4)                                  any
reduction in Executive’s base salary, or a material reduction in benefits
payable to Executive or failure of the Company to pay Executive any earned
salary, bonus or benefits except with the prior written consent of Executive;

 

(5)                                  the
exclusion or limitation of Executive from participating in some form of
variable compensation plan which provides the Executive the opportunity to
achieve a level of total compensation (base salary plus variable compensation)
consistent with what the Executive had the opportunity to earn at the Event
Date; or

 

3

 

(6)                                  any
demand by any director or officer of the Company that Executive take any action
or refrain from taking any action where such action or inaction, as the case
may be, would violate any law, rule, regulation or other governmental
pronouncement, court order, decree or judgment, or breach any agreement or
fiduciary duty.

 

(e)                                  Each
of the following shall constitute “Cause”:

 

(1)                                  any
violation by Executive of any material obligation under this Agreement or the
attached Confidentiality, Non-Competition and Nonsolicitation Agreement;

 

(2)                                  conviction
for commitment of a felony;

 

(3)                                  any
violation of law which has a material adverse effect on the Company;

 

(4)                                  habitual
abuse of alcohol or a controlled substance under circumstances that adversely
affect the Executive’s performance of his or her duties in any way;

 

(5)                                  theft
or embezzlement from the Company;

 

(6)                                  repeated
unexcused absence from work;

 

(7)                                  Disability
of Executive (as defined below); and

 

(8)                                  repeated
failure or refusal by Executive to carry out the reasonable directives, orders
or resolutions of the Company’s Board of Directors or any officer to whom he or
she reports.

 

(f)                                    “Disability”
shall mean any physical, mental or other health condition which renders the
Executive unable to perform the essential functions of his or her position with
or without reasonable accommodation.  Any
disagreement as to whether Executive is disabled shall be resolved by a
physician selected by the Company after an examination of Executive.  Executive hereby consents to such physical
examination and to the examination of all medical records of Executive
necessary, in the judgment of the examining physician, to make the
determination of disability.

 

(g)                                 Notwithstanding
any other provision of this Agreement to the contrary, in the event that any
severance or other payment, benefit or right payable or accruing to Executive
hereunder or under any of the Company’s benefit plans (the “Benefit Plans”)
would constitute a “parachute payment” as defined in Section 280G(b)(2) of
the Internal Revenue Code of 1986, as amended (the “Code”), then the total
amount of severance and other payments or benefits payable to Executive
hereunder and under the Benefit Plans which is deemed to constitute a
“parachute payment” shall not exceed and shall, if necessary, be reduced to an
amount (the “Revised Severance Payment”) equal to 2.99 times Executive’s
“base amount” as defined in Code Section 280G(b)(3).  In the event of a disagreement between the
Company and Executive as to whether the provisions of Code Section 280G
are applicable or the amount of the Revised

 

4

 

Severance Payment, such
determination shall be made by the Company’s independent public accountants or,
if such firm is unable or unwilling to render such a determination, then by a
law firm mutually acceptable to Executive and the Company.  All costs relating to such determination
shall be borne by the Company.  The
Company and the Executive shall cooperate in good faith to make the
determination required by this Section 1(g) by mutual agreement not later
than the later of:  (i) the fifth
day preceding the date that the Severance Payment is or would be due or
(ii) the earlier of (x) the tenth day following the expiration of any
period of accelerated vesting of options to purchase the Company’s Common Stock
provided by Section 5(n) of the Benefit Plan or (y) the tenth day
following the date of exercise by Executive of his or her last remaining option
which was exercisable solely due to the application of Section 5(n) of the
Benefit Plan.  Pending the final
calculation of the Severance Payment or Revised Severance Payment, the Company
shall pay the amounts described under subsection (b) above at the time and
in the manner provided herein; provided that, pending such determination, such
payments shall be reduced by such amounts as the Company estimates in good
faith to be necessary to satisfy its tax (including excise tax) withholding
obligations and effect the reduction in the amount of the Severance Payment, as
contemplated by this subsection 1(g). 
The aggregate amount of any compensation actually paid or provided to
Executive under the terms of this Agreement and in excess of the Revised
Severance Payment shall be deemed, to the extent of such excess, a loan to
Executive payable upon demand and bearing interest at the rate of 8% per annum.

 

(h)                                 Notwithstanding
anything to the contrary contained in this Agreement, the definitions provided
in Section 1(c) which relate to the Company’s Rights Plan shall remain
applicable regardless of whether the Rights Plan itself remains in effect.

 

2.                                       CONFIDENTIALITY,
NON-COMPETITION AND NONSOLICITATION AGREEMENT. 
In consideration of the obligations undertaken by the Company pursuant
to this Agreement, contemporaneously with the execution of this Agreement,
Executive and the Company shall enter into the form of Confidentiality,
Non-Competition and Nonsolicitation Agreement attached hereto as EXHIBIT A
and each agreement shall be effective only if both agreements have been
executed.

 

3.                                       TERM
OF AGREEMENT.  The Company’s obligations
under Section 1 of this Agreement shall expire with respect to Control
Events occurring on or after the second anniversary of the date of this
Agreement (“Initial Expiration Date”), provided however, that such obligations
shall automatically extend for one (1) year on each anniversary of the
Initial Expiration Date unless terminated by the Company effective as of the
last day of the then current one (1) year extension by written notice to
that effect delivered to the Executive not fewer than ninety (90) days
prior to such anniversary of the Expiration Date.  Executive’s obligations under the
Confidentiality, Non-Competition and Nonsolicitation Agreement shall survive
the termination or the expiration of the Change of Control Agreement regardless
of the reason for termination or expiration according to the terms of the
Confidentiality, Non-Competition and Nonsolicitation Agreement.

 

4.                                       AT
WILL EMPLOYMENT.  Unless and to the
extent otherwise agreed by the Company and Executive in a separate written
employment agreement, Executive’s employment

 

5

 

shall be “at will”, with
either party permitted to terminate the employment at any time, with or without
cause.  No term of any employment
agreement between the Company and Executive shall be construed to conflict
with, lessen or expand the obligations of the parties under this Agreement.

 

5.                                       NOTICES.  All notices and other communications called
for or required by this Agreement shall be in writing and shall be addressed to
the parties at their respective addresses stated below or to such other address
as a party may subsequently specify by written notice and shall be deemed to
have been received (i) upon delivery in person, (ii) five days after
mailing it by U.S. certified or registered mail, return receipt requested and
postage prepaid, or (iii) two days after depositing it with a commercial
overnight carrier which provides written verification of delivery:

 

	
  To the Company:

  	
   

  	
  701 N. 34th Street,
  Suite 400

  
	
   

  	
   

  	
  Seattle, Washington
  98103

  
	
   

  	
   

  	
  Attention: Board of
  Directors

  
	
   

  	
   

  	
   

  
	
  To Executive:

  	
   

  	
  Kaia Akre

  
	
   

  	
   

  	
  6230 Wilson Avenue
  South

  
	
   

  	
   

  	
  Seattle, Washington
  98118

  

 

6.                                       WITHHOLDING.  Except as described in subsection 1(g)
of this Agreement, all payments due to and all benefits to be provided to
Executive hereunder shall be subject to reduction for any applicable
withholding taxes, including excise taxes.

 

7.                                       ASSIGNMENT.  Executive’s rights and duties hereunder are
personal to Executive and are not assignable to others, but Executive’s
obligations hereunder will bind his heirs, successors, and assigns.  The Company may assign its rights under this
Agreement in connection with any merger or consolidation of the Company or any
sale of all or any portion of the Company’s assets (including, without
limitation, any division or product line), provided that any such successor or
assignee expressly assumes in writing the Company’s obligations hereunder.

 

8.                                       NO
DUTY TO MITIGATE.  Executive shall not be
required to mitigate the amount of any payment made or benefit provided
hereunder.  The Company may offset any
payment due hereunder by the amount of damages to the Company resulting from
any breach of this Agreement by Executive.

 

9.                                       GENERAL.  This Agreement constitutes the exclusive
agreement of the parties with respect to the subject matter hereof and
supersedes all prior agreements or understandings of the parties.  No waiver of or forbearance to enforce any
right or provision hereof shall be binding unless in writing and signed by the
party to be bound, and no such waiver or forbearance in any instance shall
apply to any other instance or to any other right or provision.  This Agreement will be governed by the local
laws of the State of Washington without regard to its conflicts of laws rules
to the contrary.  The parties hereby
consent to the exclusive jurisdiction

 

6

 

and venue of the state
and federal courts sitting in King County, Washington for all matters and actions
arising under this Agreement.  The
prevailing party shall be entitled to reasonable attorneys’ fees and costs
incurred in connection with such litigation. 
No term hereof shall be construed to limit or supersede any other right
or remedy of the Company under applicable law with respect to the protection of
trade secrets or otherwise.  If any
provision of this Agreement is held to be invalid or unenforceable to any
extent in any context, it shall nevertheless be enforced to the fullest extent
allowed by law in that and other contexts, and the validity and force of the
remainder of this Agreement shall not be affected thereby.

 

IN WITNESS WHEREOF, the
parties have caused this Agreement to be signed as of the date first above
written.

 

	
  CUTTER & BUCK
  INC. 

  	
  EXECUTIVE: 

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/ John T. Wyatt 

  	
   

  	
  Signature

  	
  /s/ Kaia Akre 

  	
   

  
	
   

  	
   John T. Wyatt 

  	
  Printed  Name: Kaia Akre

  
	
  Its:

  	
   Chief Executive
  Officer

  	
   

  
						

 

7

 

Exhibit A

 

CONFIDENTIALITY,
NON-COMPETITION AND NONSOLICITATION AGREEMENT

FOR

KAIA AKRE

 

This Agreement is
entered into this 2nd day of January 2006, by and between Cutter
& Buck Inc. (the “Company”) and Kaia Akre (“Executive”).  Executive is an at-will employee of the
Company.  In consideration of the
Company’s execution of the Change of Control Agreement contemporaneously with
this Agreement, Executive promises, on the terms set forth herein, at all times
to protect the Company’s proprietary information and, for the period of time
specified in Section 1(b) below, not to solicit the customers or employees
of the Company.  Executive further
promises not to compete with the Company following termination of Executive’s
employment in connection with a change in control for the period of time
specified in Section 1(a) below.

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the covenants and conditions
contained herein, the parties hereby agree as follows:

 

1.                                       Non-competition
and Non-solicitation.

 

(a)                                  Executive
agrees that during the term of Executive’s employment with the Company and,
subject to receipt of the Severance Payment (as defined below) by the
Executive, until twelve (12) months following the Termination Date (as
defined below), Executive will not in any capacity directly or indirectly engage
in, assist others to engage in or own a material interest in any business or
activity that is, or is preparing to be, in competition with the Company with
respect to any product or service sold or service provided by the Company up to
the time of termination of employment in any geographical area in which at the
time of termination of employment such product or service is sold or is
actively engaged in.  For the purposes of
this Agreement, the terms “Severance Payment” and “Termination Date” shall have
the meanings assigned to them in the Change in Control Agreement (as defined in
Section 6 below).

 

(b)                                 Executive
further agrees that during the term of Executive’s employment with the Company
and for eighteen months after termination of employment, regardless of the
reason for termination, he/she will not directly or indirectly call on, reveal
the name of, or otherwise solicit, accept business from or attempt to entice
away from the Company any actual or identified potential customer of the
Company, nor will he/she assist others in doing so.  Executive further agrees that he/she will
not, during the period stated above, encourage or solicit any other employee or
consultant of the Company to leave such employment for any reason, nor will
he/she assist others to do so.

 

(c)                                  Executive
acknowledges that the covenants in this Section 1 are necessary and
reasonable to protect the Company in the conduct of its business and that
compliance with

 

8

 

such covenants will not prevent
him/her from pursuing his/her livelihood. 
However, should any court find that any provision of such covenants is
unreasonable, invalid or unenforceable, whether in period of time, geographical
area, or otherwise, then in that event the parties hereby agree that such
covenants shall be interpreted and enforced to the maximum extent which the
court deems reasonable.

 

2.                                       Trade
Secrets and Confidential Information.

 

(a)                                  Executive
acknowledges that the Company’s business and future success depend upon the
preservation of the trade secrets and other confidential information of the
Company and its suppliers and customers (the “Secrets”).  The Secrets may include, without limitation,
existing and to-be-developed or acquired product designs, new product plans or
ideas, market surveys, the identities of past, present or potential customers,
business and financial information, pricing methods or data, terms of contracts
with present or past customers, proposals or bids, marketing plans, personnel
information, procedural and technical manuals and practices, servicing
routines, and parts and supplier lists proprietary to the Company or its
customers or suppliers, and any other sorts of items or information of the
Company or its customers or suppliers which are not generally known to the
public at large.  Executive agrees to
protect and to preserve as confidential during and after the term of his
employment all of the Secrets at any time known to Executive or in his/her
possession or control (whether wholly or partially developed by Executive or
provided to Executive, and whether embodied in a tangible medium or merely
remembered).

 

(b)                                 Executive
shall mark all items containing any of the Secrets with prominent
confidentiality notices acceptable to the Company.  Executive shall neither use nor allow any
other person to use any of the Secrets in any way, except for the benefit of
the Company and as directed by Executive’s supervisor.  All material containing or disclosing any
portion of the Secrets shall be and remain the property of the Company, shall
not be removed from the Company’s premises without specific consent from an
officer of the Company, and shall be returned to the Company upon the
termination of Executive’s employment or the earlier request of Executive’s supervisor.  At such time, Executive shall also assemble
all materials in his possession or control which contain any of the Secrets,
and promptly deliver such items to the Company.

 

3.                                       Intellectual
Properties.

 

(a)                                  All
ownership, copyright, patent, trade secrecy and other rights in all works,
designs, inventions, ideas, manuals, improvements, discoveries, processes,
customer lists or other properties (the “Intellectual Properties”) made or
conceived by Executive during the term of his/her employment by the Company
shall be the rights and property solely of the Company, whether developed
independently by Executive or jointly with others, and whether or not developed
or conceived during regular working hours or at the Company’s facilities, and
whether or not the Company uses, registers, or markets the same.

 

(b)                                 In
accordance with the Company’s policy and RCW 49.44.140 and RCW 49.44.150, this
Agreement (other than Subsection 3(c)) does not apply to, and Executive
has no

 

9

 

obligation to assign to
the Company, any invention for which no Company trade secrets and no equipment,
supplies, services, or facilities of the Company were used and which was
developed entirely on Executive’s own time, unless:  (i) the invention relates directly to
the business of the Company, (ii) the invention relates to actual or
demonstrably anticipated research or development work of the Company, or
(iii) the invention results from any work performed by Executive for the
Company.

 

(c)                                  If
and to the extent that Executive makes use, in the course of his employment, of
any items or Intellectual Properties previously developed by Executive or
developed by Executive outside of the scope of this Agreement, Executive hereby
grants the Company a nonexclusive, royalty-free, perpetual, irrevocable,
worldwide license (with right to sublicense) to make, use, sell, copy,
distribute, modify, and otherwise to practice and exploit any and all such
items and Intellectual Properties.

 

(d)                                 Executive
will assist the Company as reasonably requested during and after the term of
his employment to further evidence and perfect, and to enforce, the Company’s
rights in and ownership of the Intellectual Properties covered hereby,
including without limitation, the execution of additional instruments of
conveyance and assisting the Company with applications for patents or copyright
or other registrations.

 

4.                                       Authority
and Non-Infringement.  Executive
warrants that any and all items, technology, and Intellectual Properties of any
nature developed or provided by Executive under this Agreement and in any way
for or related to the Company will be original to Executive and will not, as
provided to the Company or when used and exploited by the Company and its
contractors and customers and its and their successors and assigns, infringe in
any respect on the rights or property of Executive or any third party.  Executive will not, without the prior written
approval of the Company, use any equipment, supplies, facilities, or proprietary
information of any other party. 
Executive warrants that Executive is fully authorized to enter into
employment with the Company and to perform under this Agreement, without
conflicting with any of Executive’s other commitments, agreements, understandings
or duties, whether to prior employers or otherwise.  Executive will indemnify the Company for all
losses, claims, and expenses (including reasonable attorneys’ fees) arising
from any breach of by him/her of this Agreement.

 

5.                                       Remedies.  The harm to the Company from any breach of
Executive’s obligations under this Agreement may be wholly or partially
irreparable, and Executive agrees that such obligations may be enforced by
injunctive relief and other appropriate remedies, as well as by damages.  If any bond from the Company is required in
connection with such enforcement, the parties agree that a reasonable value of
such bond shall be $5,000.  Any amounts
received by Executive or by any other through Executive in breach of this
Agreement shall be held in constructive trust for the benefit of the Company.

 

6.                                       Executive
Agreement.  In consideration of the
obligations undertaken by Executive pursuant to this Agreement,
contemporaneously with the execution of this Agreement, Executive and the
Company are entering into a Change in Control Agreement (the “Change in Control
Agreement”), and each agreement shall be effective only if both agreements have
been

 

10

 

executed.  Executive’s obligations under this Agreement
are, and will continue to be, binding on Executive without regard to whether a
Change of Control has or will occur, except for the noncompetition provisions
of Section 1 (a), which shall only arise in connection with a Change of
Control.

 

7.                                       At
Will Employment.  Unless and to the
extent otherwise agreed by the Company and Executive in a separate written
employment agreement, Executive’s employment shall be “at will”, with either
party permitted to terminate the employment at any time, with or without cause.  No term of any employment agreement between
the Company and Executive shall be construed to conflict with or lessen
Executive’s obligations under this Agreement.

 

8.                                       Notices.  All notices and other communications called
for or required by this Agreement shall be in writing and shall be addressed to
the parties at their respective addresses stated below or to such other address
as a party may subsequently specify by written notice and shall be deemed to
have been received (i) upon delivery in person, (ii) five days after
mailing it by U.S. certified or registered mail, return receipt requested and
postage prepaid, or (iii) two days after depositing it with a commercial
overnight carrier which provides written verification of delivery:

 

	
  To the Company:

  	
   

  	
  701 N. 34th Street, Suite 400

  
	
   

  	
   

  	
  Seattle, Washington 98103

  
	
   

  	
   

  	
  Attention: Board of
  Directors

  
	
   

  	
   

  	
   

  
	
  To Executive:

  	
   

  	
  Kaia Akre

  
	
   

  	
   

  	
  6230 Wilson Avenue South

  
	
   

  	
   

  	
  Seattle, Washington
  98118

  

 

9.                                       Assignment.  Executive’s rights and duties hereunder are
personal to Executive and are not assignable to others, but Executive’s
obligations hereunder will bind his/her heirs, successors, and assigns.  The Company may assign its rights under this
Agreement in connection with any merger or consolidation of the Company or any
sale of all or any portion of the Company’s assets (including, without
limitation, any division or product line), provided that any such successor or
assignee expressly assumes in writing the Company’s obligations under the
Executive Agreement.

 

10.                                 General.  This Agreement constitutes the exclusive
agreement of the parties with respect to the subject matter hereof and
supersedes all prior agreements or understandings of the parties.  No waiver of or forbearance to enforce any
right or provision hereof shall be binding unless in writing and signed by the
party to be bound, and no such waiver or forbearance in any instance shall
apply to any other instance or to any other right or provision.  This Agreement will be governed by the local
laws of the State of Washington without regard to its conflicts of laws rules
to the contrary.  The parties hereby
consent to the exclusive jurisdiction and venue of the state and federal courts
residing in King County, Washington for all matters and actions arising under
this Agreement.  The prevailing party
shall be entitled to reasonable attorneys’ fees and costs incurred in
connection with such litigation.  No term
hereof shall be construed to limit or supersede any other right or remedy of
the Company under applicable law with respect to the

 

11

 

protection of trade
secrets or otherwise.  If any provision
of this Agreement is held to be invalid or unenforceable to any extent in any
context, it shall nevertheless be enforced to the fullest extent allowed by law
in that and other contexts, and the validity and force of the remainder of this
Agreement shall not be affected thereby.

 

IN WITNESS
WHEREOF, the parties have caused this Agreement to be signed as of the date
first above written.

 

	
  CUTTER & BUCK
  INC. 

  	
  EXECUTIVE: 

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/ John T. Wyatt 

  	
   

  	
  Signature

  	
  /s/ Kaia Akre 

  	
   

  
	
   

  	
  John T. Wyatt 

  	
  Printed  Name:
  Kaia Akre

  
	
  Its:

  	
  Chief Executive Officer

  	
   

  
						

 

12

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