Document:

Ex-10.1 Amended EVA Incentive Compensation Plan

 

EXHIBIT 10.1

GENESCO INC.

AMENDED AND RESTATED

EVA INCENTIVE COMPENSATION PLAN

1. Purpose.

The purposes of the Genesco Inc. EVA Incentive Compensation Plan (“the Plan”) are to motivate and
reward excellence and teamwork in achieving maximum improvement in shareholder value; to provide
attractive and competitive total cash compensation opportunities for exceptional corporate and
business unit performance; to reinforce the communication and achievement of the mission,
objectives and goals of the Company; to motivate managers to think strategically (long term) as
well as tactically (short term); and to enhance the Company’s ability to attract, retain and
motivate the highest caliber management team. The purposes of the Plan shall be carried out by
payment to eligible participants of annual incentive cash awards, subject to the terms and
conditions of the Plan and the discretion of the Compensation Committee of the board of directors
of the Company.

2. Authorization.

On February 24, 2004, the Compensation Committee approved the Plan. On April 26, 2005, and
February 20, 2007, the Committee amended the Plan.

3. Selection of Participants.

Participants shall be selected annually by the Chief Executive Officer from among full-time
employees of the Company who serve in operational, administrative, professional or technical
capacities. The participation and target bonus amounts of Company officers and the Management
Committee shall be approved by the Compensation Committee with the advice of the Chief Executive
Officer. The Chief Executive Officer shall not be eligible to participate in the Plan.

The Chief Executive Officer shall annually assign participants to a Business Unit. For
participants whose Business Unit consists of more than one profit center, the Chief Executive
Officer shall determine in advance the relative weight to be given to the performance of each
profit center in the calculation of awards. If a participant is transferred to a different
business unit during the Plan Year he or she shall be eligible to receive a bonus for each of the
Business Units to which the participant was assigned during the Plan Year, prorated for the amount
of time worked in each assignment, unless the Chief Executive Officer determines that a different
proration is warranted in the circumstances.

In the event of another significant change in the responsibilities and duties of a participant
during a Plan Year, the Chief Executive Officer shall have the authority, in his sole discretion,
to terminate the participant’s participation in the Plan, if such change results in diminished
responsibilities, or to

 

 

make such changes as he deems appropriate in (i) the target award the participant is eligible to
earn, (ii) the participant’s applicable goal(s) and (iii) the period during which the participant’s
applicable award applies.

4. Participants Added During Plan Year.

A person selected for participation in the Plan after the beginning of a Plan Year will be eligible
to earn a prorated portion of the award the participant might have otherwise earned for a full
year’s service under the Plan during that Plan Year, provided the participant is actively employed
as a participant under the Plan for at least 120 days during the Plan Year. The amount of the
award, if any, earned by such participant for such Plan Year shall be based on the number of full
months of the Plan Year during which the employee participated in the Plan.

5. Disqualification for Unsatisfactory Performance.

Any participant whose performance is found to be unsatisfactory or who shall have violated in any
material respect the Company’s Policy on Legal Compliance and Ethical Business Practices shall not
be eligible to receive an award under the Plan in the current Plan Year. The participant shall be
eligible to be considered by the Chief Executive Officer for reinstatement to the Plan in
subsequent Plan Years. Any determination of unsatisfactory performance or of violation of the
Company’s Policy on Legal Compliance and Ethical Business Practices shall be made by the Chief
Executive Officer. Participants who are found ineligible for participation in a Plan Year due to
unsatisfactory performance will be so notified in writing prior to October 31 of the Plan Year.

6. Termination of Employment.

A participant whose employment is terminated voluntarily or involuntarily, except by reason of
death, medical disability or voluntary retirement, prior to the end of a Plan Year shall not be
eligible to receive an award under the Plan. A participant who voluntarily retires, is on medical
leave of absence or the estate of a participant who dies during the Plan Year will be eligible to
receive the sum of a prorated portion of the award (positive or negative) the participant would
have otherwise received for a full year’s service under the Plan, provided the participant is
actively employed as a participant under the Plan for at least 120 days during the Plan Year, and
the participant’s bonus bank (positive or negative). The amount of any award payable to such
disabled or retired participant or the estate of such deceased participant shall be based on the
number of full months of the Plan Year during which the disabled, retired or deceased employee was
classified in the Company’s payroll system as an active employee. A participant who has received
or is receiving severance pay at the end of the Plan Year shall be considered a terminated employee
and shall not be eligible to receive an award under the Plan.

7. Economic Value Added (“EVA”) Calculation

EVA for a Business Unit or the entire Company, as applicable, shall be the result of a Business
Unit’s or the Company’s net operating profit after taxes less a charge for capital employed by

 

 

that Business Unit or the Company. The Company will track the change in EVA by Business Unit over each
Plan Year for the purpose of determining bonus as further described below.

8. Amount of Awards.

Participants are eligible to earn cash awards based on (i) change in EVA for a Business Unit and
(ii) achievement of individual Performance Plan Goals to be approved by the Chief Executive Officer
prior to March 31 of each Plan Year. Prior to the beginning of each Plan Year, the Chief Executive
Officer will establish for each Business Unit and for the Company as a whole target levels of
expected changes in EVA for each Business Unit and for the Company for such Plan Year and a range
of multiples to be applied to the participant’s target bonus based on actual performance for the
Plan Year. The multiple related to Business Unit performance is referred to as the “Business Unit
Multiple.” If a participant’s Business Unit is comprised of more than one profit center, the Chief
Executive Officer shall determine the relative weight to be assigned to each profit center’s
Business Unit Multiple. The Business Unit Multiple for such participant shall be the weighted
average of the Business Unit Multiples for each profit center comprising the participant’s Business
Unit. The multiple related to the performance of the Company as a whole is referred to as the
“Corporate Multiple.” The Corporate Multiple and Business Unit Multiples may be positive or
negative and may consist of whole numbers or fractions. Not later than March 31 the Plan Year, the
participant and the participant’s supervisor shall agree on a set of strategic performance
objectives for the participant for the Plan Year (the “Performance Plan Goals”).

The “Declared Bonus” shall be determined as follows:

For participants who are Business Unit Presidents, the Declared Bonus shall equal the sum of (A)
the Business Unit Multiple times one-half the participant’s target bonus plus (B) the Corporate
Multiple times one-quarter of the participant’s target bonus plus (C) the percentage of the
participant’s achievement of his or her Performance Plan Goals determined by the participant’s
supervisor (the “Performance Plan Percentage”) times one-quarter of the participant’s target bonus
times the Business Unit Multiple; provided, however that if the Business Unit Multiple is a
negative number, the Performance Plan Percentage shall be 100%.

For other Business Unit participants, the Declared Bonus shall equal the sum of (A) the Business
Unit Multiple times 75% of the participant’s target bonus plus (B) the Business Unit Multiple times
25% of the participant’s target bonus times the Performance Plan Percentage; provided, however that
if the Business Unit Multiple is a negative number, the Performance Plan Percentage shall be 100%.

For the Corporate Staff participants, the Declared Bonus shall equal the sum of (A) the Corporate
Multiple times 75% of the participant’s target bonus plus (B) the Corporate Multiple times 25% of
the participant’s target bonus times the Performance Plan Percentage; provided that, if the
Corporate Multiple is a negative number, the Performance Plan Percentage shall be 100%.

A participant’s bonus payout at the end of the Plan Year shall be equal to the sum of: (i) the
Declared Bonus, up to three times the participant’s target bonus for the Plan Year plus (ii) one-third

 

 

of the participant’s Declared Bonus in excess of three times the target bonus, provided,
however, that in years in which a positive Declared Bonus is earned but a negative bank balance
exists to be repaid, 50% of the Declared Bonus in excess of two times the target bonus will be
credited to the negative bank.

A “Bonus Bank” shall be established for each participant each year and shall consist of: (i) the
participant’s positive Declared Bonus not distributed because of payout limitations or (ii) the
participant’s negative Declared Bonus, as applicable. The positive Bonus Bank established for each
Plan Year shall be paid out in three equal annual installments beginning the year following the
Current Plan year except that positive bank balances that exist from prior years will be fully
netted against a negative award in the year the negative award is realized. The negative Bonus
Bank established for any Plan Year shall be eliminated to the extent not repaid pursuant to the
preceding paragraph at the end of three years following the Plan Year with respect to which it
arose.

Any positive balance in the Bonus Bank shall be payable without interest promptly upon the
Company’s termination of the participant’s employment without “Cause,” or upon the participant’s
death or retirement. “Cause” for termination for purposes of this Plan means any act of dishonesty
involving the Company, any violation of the Policy on Legal Compliance and Ethical Business
Practices as then in effect, any breach of fiduciary duty owed to the Company, persistent or
flagrant failure to follow the lawful directives of the board of directors or of the executive to
whom the participant reports or conviction of a felony.

Nothing in this Plan (including but not limited to the foregoing definition of Cause) shall in any
manner alter the participant’s status as an employee at will or limit the Company’s right or
ability to terminate the participant’s employment for any reason or for no reason at all. Upon
termination for Cause or voluntary termination at the participant’s instance, any unpaid portion of
the “Bonus Bank” will be forfeited by the participant.

9. Payment of Awards.

Any awards payable under the Plan (including awards with respect to participants who die, are
placed on medical leave of absence or voluntarily retire during the Plan Year), other than the
amount, if any, to be credited to the Bonus Bank, will be made in cash, net of applicable
withholding taxes, as soon as reasonably practicable after the end of the Plan Year, but in no
event prior to the date on which the Company’s audited financial statements for the Plan Year are
reviewed by the audit committee of the Company’s board of directors. The positive Bonus Bank
balance will be paid in cash, net of applicable withholding taxes, as soon as reasonably
practicable after the date on which it becomes payable.

10. Plan Administration.

The Chief Executive Officer shall have final authority to interpret the provisions of the Plan.
Interpretations by the Chief Executive Officer which are not patently inconsistent with the express
provisions of the Plan shall be conclusive and binding on all participants and their designated
beneficiaries. It is the responsibility of the Vice President Human Resources & Administration (i)
to

 

 

cause each person selected to participate in the Plan to be furnished with a copy of the Plan
and to be notified in writing of such selection, the applicable goals and the range of the awards
for which the participant is eligible; (ii) to cause the awards to be calculated in accordance with
the Plan; and (iii) except to the extent reserved to the Chief Executive Officer or the
Compensation Committee hereunder, to administer the Plan consistent with its express provisions.

11. Non-assignability.

A participant may not at any time encumber, transfer, pledge or otherwise dispose of or alienate
any present or future right or expectancy that the participant may have at any time to receive any
payment under the Plan. Any present or future right or expectancy to any such payment is
non-assignable and shall not be subject to execution, attachment or similar process.

12. Miscellaneous.

Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate
any participant’s employment or to change any participant’s duties and responsibilities, nor confer
upon any participant the right to be selected to participate in any incentive compensation plans
for future years. Neither the Chief Executive Officer, the Vice President Human Resources &
Administration, nor the Compensation Committee shall have any liability for any action taken or
determination made under the Plan in good faith.

13. Binding on Successors.

The obligations of the Company under the Plan shall be binding upon any organization which shall
succeed to all or substantially all of the assets of the Company, and the term Company, whenever
used in the Plan, shall mean and include any such organization after the succession. If the
subject matter of this Section 13 is covered by a change-in-control agreement or similar agreement
which is more favorable to the participant than this Section 13, such other agreement shall govern
to the extent applicable and to the extent inconsistent herewith.

14. Definitions.

“EVA” means the economic value added to the Company during the Plan Year as determined by the net
operating profit in a particular Business Unit as reflected on the Company’s books for internal
reporting purposes, reduced by the cost of capital.

“Business Unit” means any of the Company’s profit centers or any combination of two or more of the
profit centers, which comprise Genesco Inc.

The “Chief Executive Officer” means the president and chief executive officer of the Company.

The “Company” means Genesco Inc. and any wholly owned subsidiary of Genesco Inc.

The “Compensation Committee” means the compensation committee of the board of directors of

 

 

the Company.

The “Plan” means this EVA Incentive Compensation Plan for the Plan Year.

“Plan Year” means the fiscal year of the Company.

The “Vice President Human Resources & Administration” means the vice president Human Resources &
Administration of Genesco Inc.

The “Management Committee” means executives of the Company with a direct reporting relationship to
the Chief Executive Officer.Exhibit 10.5

 

Exhibit 10.5

HANESBRANDS INC. OMNIBUS INCENTIVE PLAN OF 2006

NON-EMPLOYEE DIRECTOR

STOCK OPTION GRANT NOTICE AND AGREEMENT

To: [Name] (referred to as “you” or “Grantee”, in this agreement)

Hanesbrands Inc. (the “Company”) is pleased to confirm that you have been granted a stock option
Award (this “Award”) effective _________  _____, 20___ (the
“Grant Date”). This Award is subject to the terms of this Stock Option Grant Notice and Agreement
(this “Agreement”) and is made under the Hanesbrands Inc. Omnibus Incentive Plan of 2006 (the
“Plan”) which is incorporated into this Agreement by reference. Any capitalized terms used herein
that are otherwise undefined shall have the same meaning provided in the Plan.

     1. Acceptance of Terms and Conditions. By electronically acknowledging and accepting this
Award within 30 days after the date of the electronic mail notification to you of the grant of this
Award (“Email Notification Date”), you agree that the Award is made at the discretion of the
Committee and that acceptance of this Award is no guarantee that future Awards will be made under
the Plan. You further agree to be bound by the terms and conditions herein, the Plan and any and
all conditions established by the Company in connection with Awards issued under the Plan, and
understand that this Award does not confer any legal or equitable right (other than those rights
constituting the Award itself) against the Company or any Subsidiary directly or indirectly, or
give rise to any cause of action at law or in equity against the Company. In order to exercise the
Award described in this Agreement, you must accept this Award within 30 days of the Email
Notification Date.

     2. Exercise Right. Your Award is to purchase, on the terms and conditions set forth below,
the following number of shares (the “Option Shares”) of the Company’s common stock, par value $.01
per share (the “Common Stock”) at the exercise price specified below (the “Exercise Price”).

	 	 	 	 	 
	Number of Option Shares	 	Exercise Price Per Option Share
	 

	 	$________

     3. Option Type. This Award is comprised of non-qualified stock options and is intended to
conform in all respects with the Plan, a copy of which is available from the Company’s Compensation
and Benefits Department, and the provisions of which are incorporated herein by reference. This
Award is not intended to qualify as an incentive stock option within the meaning of Section 422 of
the Internal Revenue Code of 1986, as amended.

     4. Expiration Date. The Option Shares granted herein expire on the [_________]
anniversary of the Grant Date (the “Expiration Date”), subject to earlier expiration upon your
death, disability or other termination of service, as provided below.

     5. Vesting. This Award may be exercised only to the extent it has vested. Subject to the
restrictions of this Paragraph and Paragraph 6 below, and provided that, for each of the
below-stated dates on which you continue to serve on the Board of Directors of the Company (the
“Board”), you will vest in the below-stated percentage of the total number Option Shares awarded
under this Agreement until you are 100% vested in your Award:

	 	 	 
	Date	 	Vested % of Option Shares Awarded
	[Date]
	 	[%]
	[Date]
	 	[%]
	[Date]
	 	[%]
	[Date]
	 	[%]

 

 

If your Board service is terminated due to your death or permanent and total disability, all Option
Shares will vest as of the date of death or the date you are determined to be permanently and
totally disabled, and the last date on which vested Option Shares may be exercised is the
Expiration Date.

     6. Termination of Service. Effective upon the date your Board service is terminated (other
than for death or permanent disability as described in Paragraph 5), any Options Shares not vested
will be forfeited, and the last date on which vested Option Shares may be exercised is the
Expiration Date.

     7. Exercise. This Award may be exercised in whole or in part for the number of Option Shares
designated by you on either a paper form specified by the Company or via electronic instructions to
the Company’s designated agent. Any such exercise of this Award shall be accompanied by full
payment of the Exercise Price for such number of Option Shares. Payment of the Exercise Price may
be made in one of the following forms:

     a. in cash;

     b. by surrendering previously acquired shares of Common Stock having a Fair Market
Value at the time of exercise equal to the Exercise Price;

     c. by certifying ownership of shares of Common Stock having a Fair Market Value at the
time of exercise equal to the Exercise Price in exchange for a reduction in the number of
shares of Common Stock issuable upon the exercise of the Award; or

     d. to the extent permitted by applicable law, by delivery of irrevocable instructions
to a broker to (1) promptly deliver to the Company the amount of sale proceeds from the
Stock Option shares or loan proceeds to pay the Exercise Price and any withholding taxes due
to the Company, and (2) deliver to you the balance of the Stock Option proceeds in the form
of cash or shares of Common Stock (as you select).

In connection with any payment of the Exercise Price by surrender or attesting to the ownership of
shares of Common Stock, proof acceptable to the Company shall be submitted substantiating the
shares owned. The value of previously acquired shares submitted (directly or by attestation) in
payment for the Option Shares purchased upon exercise shall be equal to the aggregate fair market
value (as defined in the Plan) of such previously acquired shares on the date of the exercise.
Option Shares will be considered finally exercised on the date on which your payment of the
Exercise Price has been received by the Company. The exercise of any portion of this Award will be
considered your acceptance of all terms and conditions specified in this Agreement. You are
personally responsible for the payment of all taxes related to the exercise.

     8. Adjustments. If the number of outstanding shares of Company Common Stock is changed as a
result of a stock split or the like without additional consideration to the Company, the number of
Option Shares subject to this Award and the Exercise Price shall be adjusted to correspond to the
change in the outstanding shares of Common Stock.

     9. Rights as a Stockholder. You shall have no rights as a stockholder of the Company with
respect to any Option Shares, including the right to vote, until and unless the ownership of such
Option Shares has been transferred to you.

     10. No Rights to Continued Service. Nothing in this Agreement, the Participation
Guide/Prospectus for Hanesbrands Inc. Omnibus Incentive Plan of 2006 (the “Plan Prospectus”), or
the Plan confers on any Grantee any right to continue on the Board. You further acknowledge that
this Award is for future services to the Company and is not under any circumstances to be
considered compensation for past services.

2

 

     11. Transferability of Option Shares. You may not offer, sell or otherwise dispose of any
Common Stock covered by the Option Shares in a way which would: (i) require the Company to file any
registration statement with the Securities and Exchange Commission (or any similar filing
under state law or the laws of any other country) or to amend or supplement any such filing or (ii)
violate or cause the Company to violate the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder, any other state
or federal law, or the laws of any other country. The Company reserves the right to place
restrictions on Common Stock received by you pursuant to this Award.

     12. Consent to Transfer Personal Data. By accepting this Award, you voluntarily acknowledge
and consent to the collection, use, processing and transfer of personal data as described in this
Paragraph. You are not obliged to consent to such collection, use, processing and transfer of
personal data. However, failure to provide the consent may affect your ability to participate in
the Plan. The Company holds certain personal information about you, that may include your name,
home address and telephone number, fax number, email address, marital status, sex, age, date of
birth, social security number or other payroll identification number, nationality, pay history,
personal bank account number, Plan enrollment forms and elections, any shares of stock or
directorships in the Company, details of all options or any other entitlements to shares of stock
awarded, canceled, purchased, vested, unvested or outstanding in the Grantee’s favor, for the
purpose of managing and administering the Plan (“Data”). The Company and/or its Subsidiaries will
transfer Data amongst themselves as necessary for the purpose of implementation, administration and
management of your participation in the Plan, and the Company may further transfer Data to any
third parties assisting the Company in the implementation, administration and management of the
Plan. These recipients may be located throughout the world, including the United States. You
authorize them to receive, possess, use, retain and transfer the Data, in electronic or other form,
for the purposes of implementing, administering and managing your participation in the Plan,
including any requisite transfer of such Data as may be required for the administration of the Plan
and/or the subsequent holding of shares of stock on your behalf to a broker or other third party
with whom you may elect to deposit any shares of stock acquired pursuant to the Plan. You may, at
any time, review Data, require any necessary amendments to it or withdraw the consents herein in
writing by contacting the Company; however, withdrawing your consent may affect your ability to
participate in the Plan.

     13. Miscellaneous.

     a. Interpretations. Any dispute, disagreement or question which arises under, or as a
result of, or in any way relates to the interpretation, construction or application of this
Agreement, the Plan Prospectus, or the Plan will be determined and resolved by the
Compensation and Benefits Committee of the Company’s Board of Directors (“Committee”). Such
determination or resolution by the Committee will be final, binding and conclusive for all
purposes.

     b. Modification. The Committee may amend or modify this Award in any manner to the
extent that the Committee would have had the authority under the Plan initially to grant
such Award, provided that no such amendment or modification shall impair your rights under
this Agreement without your consent. This Agreement generally may be amended, modified or
supplemented only by an instrument in writing signed by both parties hereto.
Notwithstanding anything in this Agreement, the Plan Prospectus, or the Plan to the
contrary, this Award may be amended by the Company without the consent of the Grantee,
including but not limited to modifications to any of the rights awarded to the Grantee under
this Agreement, at such time and in such manner as the Company may consider necessary or
desirable to reflect changes in law. In addition, the Grantee understands that the Company
may amend, resubmit, alter, change, suspend, cancel, or discontinue the Plan at any time
without limitation.

3

 

     c. Conformity with the Plan. This Award is intended to conform in all respects with, and
is subject to, all applicable provisions of the Plan. Inconsistencies between this
Agreement, the Plan, or the Plan Prospectus shall be resolved in accordance with the terms
of the Plan. By your acceptance of this Agreement, you agree to be bound by all of the
terms of this Agreement, the Plan, and the Plan Prospectus.

     d. Governing Law. All matters regarding or affecting the relationship of the Company
and its stockholders shall be governed by the General Corporation Law of the State of
Maryland. All other matters arising under this Agreement including matters of validity,
construction and interpretation, shall be governed by the internal laws of the State of
North Carolina, without regard to any state’s conflict of law principles. You and the
Company agree that all claims in respect of any action or proceeding arising out of or
relating to this Agreement shall be heard or determined in any state or federal court
sitting in North Carolina, and you agree to submit to the jurisdiction of such courts, to
bring all such actions or proceedings in such courts and to waive any defense of
inconvenient forum to such actions or proceedings. A final judgment in any action or
proceeding so brought shall be conclusive and may be enforced in any manner provided by law.

     e. Successors and Assigns. Except as otherwise provided herein, this Agreement will
bind and inure to the benefit of the respective successors and permitted assigns of the
parties hereto whether so expressed or not.

     f. Severability. Whenever feasible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Agreement is held to be prohibited by or invalid under applicable law,
such provision will be ineffective only to the extent of such prohibition or invalidity,
without invalidating the remainder of this Agreement.

     14. Plan Documents. The Plan Prospectus is available by contacting Dreama Douglas at
336/519-4556.

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