Document:

EX-10.R Deferred Income Plan

 

Exhibit (10)r.

AMENDED AND RESTATED

DEFERRED INCOME PLAN

(also referred to as STEP PLUS)

(as amended effective August 22, 2007)

Purpose

Genesco Inc., a Tennessee corporation (“Genesco”) with principal offices located in Nashville,
Tennessee, adopts the following Deferred Income Plan for its eligible employees, effective on June
9, 2000, as amended effective January 1, 2001, May 17, 2005 and August 22, 2007.

This Plan is maintained for the purpose of providing Participants an opportunity to defer
compensation that would otherwise be currently payable to such Participants and to provide the
benefits lost under the Salary Deferral Plan and the Retirement Plan by participating in this Plan.
This Plan is intended to be an unfunded plan maintained primarily for the purpose of providing
deferred compensation for Directors and a select group of management or highly compensated
employees within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as
amended.

ARTICLE 1

Definitions

For purposes of this Plan, unless otherwise clearly apparent from the context, the following
phrases or terms shall have the meanings indicated:

	1.1	 	“Account Balances” shall mean as of any given date called for under the Plan, the balances of
the Participant’s Deferral Contribution Account and Company Contribution Account as such
accounts have been adjusted to reflect all applicable Investment Adjustments and all prior
withdrawals and distributions, in accordance with Article 3 of the Plan.
	 
	1.2	 	“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated
by the Participant in accordance with Article 10, to receive the Participant’s undistributed
Account Balance, in the event of the Participant’s death.
	 
	1.3	 	“Beneficiary Designation Form” shall mean the document which shall be used by the Participant
to designate his Beneficiary for the Plan.
	 
	1.4	 	“Benefit Distribution Date” shall mean the date distribution of the Participant’s Account
Balance is triggered and it shall be deemed to occur on the last day of the month coinciding
with or next following of the Participant’s Termination of Employment for any reason
whatsoever, including but not limited to death. For purposes of Section 5.2, it shall mean
the last day of the month in which the Committee approves the request. The Participant may
elect an irrevocable Benefit Distribution Date that is prior to Termination of Employment (see
Section 5.1) on a deferral made pursuant to Section 3.1 at the time such deferral election is
made.

 

 

	1.5	 	“Board” shall mean the board of directors of the Company.
	 
	1.6	 	“Change in Control” shall mean the earliest to occur of the following events:

	 	(a)	 	The consummation of any transaction or series of transactions as a result of
which any “Person” (as the term person is used for purposes of Section 13(d) or 14(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) other than an
“Excluded Person” (as hereinafter defined) has or obtains ownership or control,
directly or indirectly, of fifty percent (50%) or more of the combined voting power of
all securities of the Company or any successor or surviving corporation of any merger,
consolidation or reorganization involving the Company (the “Voting Securities”). The
term “Excluded Person” means any one or more of the following: (i) the Company or any
majority-owned subsidiary of the Company, (ii) an employee benefit plan (or a trust
forming a part thereof) maintained by (A) the Company or (B) any majority-owned
subsidiary of the Company, (iii) any Person who as of the initial effective date of
this Plan owned or controlled, directly or indirectly, ten percent (10%) or more of the
then outstanding Voting Securities, or any individual, entity or group that was part of
such a Person;
	 
	 	(b)	 	A merger, consolidation or reorganization involving the Company as a result of
which the holders of Voting securities immediately before such merger, consolidation or
reorganization do not immediately following such merger, consolidation or
reorganization own or control, directly or indirectly, at least fifty percent (50%) of
the Voting Securities in substantially the same proportion as their ownership or
control of the Voting Securities immediately before such merger, consolidation or
reorganization; or
	 
	 	(c)	 	The sale or other disposition of all or substantially all of the assets of the
Company to any Person (other than a transfer to a majority-owned subsidiary of the
Company).

	1.7	 	“Compensation” with respect to any Participant shall mean such Participant’s wages as defined
in Code Section 3401(a) and all other payments of compensation by the Employer for a Plan Year
for which the Employer is required to furnish the Participant a written statement under Code
Sections 6041(d), 6051(2)(3) and 6052.
	 
	1.8	 	“Claimant” shall mean the person or persons described in Section 14.1 who apply for benefits
or amounts that may be payable under the Plan.
	 
	1.9	 	“Code” shall mean the Internal Revenue Code of 1986, as amended, and the regulations and
other authority issued thereunder by the appropriate governmental authority. References to
the Code shall include references to any successor section or provision of the Code.
	 
	1.10	 	“Committee” shall mean the committee described in Article 12 which shall administer the Plan.

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	1.11	 	“Company” shall mean Genesco Inc., a Tennessee corporation, and any successor or assigns.
	 
	1.12	 	“Company Contribution Credit” shall mean an amount credited to the Participant’s Company
Contribution Account for a Plan Year in accordance with the terms of the Plan.
	 
	1.13	 	“Company Contribution Account” shall mean the aggregate Company Contributions credited for a
Participant as well as any appreciation (or depreciation) specifically attributable to such
Company Contributions due to Investment Adjustments, reduced to reflect all prior
distributions and withdrawals. The Company Contribution Account shall be utilized solely as a
device for the measurement of amounts to be paid to the Participant under the Plan. The
Company Contribution Account shall not constitute or be treated as an escrow, trust fund, or
any other type of funded account for Code or ERISA purposes and, moreover, contingent amounts
credited thereto shall not be considered “plan assets” for ERISA purposes. The Company
Contribution Account merely provides a record of the bookkeeping entries relating to the
contingent benefits that the Company intends to provide Participant and shall thus reflect a
mere unsecured promise to pay such amounts in the future.
	 
	1.14	 	“Contributions” shall refer to any and all Deferral and Company Contributions, as such terms
have been defined herein.
	 
	1.15	 	“Deferral Contribution” shall mean the aggregate amount of Director Fees and Compensation
deferred by a Participant during a given Plan Year in accordance with the terms of the Plan
and the Participant’s Deferral Agreement and “credited” to the Participant’s Deferral
Contribution Account. Deferral Contributions shall be deemed to be made to the Plan by the
Participant on the date the Participant would have received such compensation had it not been
deferred pursuant to the Plan.
	 
	1.16	 	“Deferral Contribution Account” shall mean a Participant’s aggregate Deferral Contributions,
as well as any appreciation (or depreciation) specifically attributable to such Deferral
Contributions due to Investment Adjustments, reduced to reflect all prior distributions and
withdrawals. The Deferral Contribution Account shall be utilized solely as a device for the
measurement of amounts to be paid to the Participant under the Plan. The Deferral
Contribution Account shall not constitute or be treated as an escrow, trust fund, or any other
type of funded account for Code or ERISA purposes and, moreover, contingent amounts credited
thereto shall not be considered “plan assets” for ERISA purposes. The Deferral Contribution
Account merely provides a record of the bookkeeping entries relating to the contingent
benefits that the Company intends to provide Participant and shall thus reflect a mere
unsecured promise to pay such amounts in the future.
	 
	1.17	 	“Director Fees” shall mean any payments made to a member of the Genesco Inc. Board of
Directors.
	 
	1.18	 	“Disability” shall mean the Executive (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which

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	 	 	can be expected to result in death or can be expected to last for a continuous period of not
less than twelve (12) months or (ii) is, by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months, receiving income replacement benefits
for a period of not less than three (3) months under an accident and health plan sponsored
by the Company and which covers the Executive.
	 
	1.19	 	“Deferral Agreement” shall mean the document required by the Committee to be submitted by a
Participant which specifies (1) the percent of Director Fees or Compensation the Participant
has elected to defer as provided in Section 3.1, (2) the Benefit Distribution Date described
in section 1.4 and (3) for purposes of article 7 and 8 the form of distribution. A deferral
election (or modification of an earlier election) may not be made with respect to Director
Fees or Compensation which is currently available on or before the date the Participant
executed such election. Changes in the amount of the deferral, the benefit distribution date
and/or the form of the distribution can be effective no earlier than as of the beginning of
the first Plan Year following the date on which such changes are received by the Committee or
its designee.
	 
	1.20	 	“Effective Date” shall mean the effective date of this Plan which shall be July 1, 2000.
	 
	1.21	 	“Employee” shall mean an employee of the Company.
	 
	1.22	 	“Employer” shall mean the Company and/or any of its subsidiaries (now in existence or
hereafter formed or acquired) that (i) have been selected by the Board to participate in the
Plan and (ii) have affirmatively adopted the Plan.
	 
	1.23	 	“Enrollment Forms” shall mean the Participation Agreement, the Deferral Agreement, and any
other forms or documents which may be required of a Participant by the Committee, in its sole
discretion, prior to and as a condition of participating in the Plan.
	 
	1.24	 	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended, and the
regulations and other authority issued thereunder by the appropriate governmental authority.
Reference herein to any section of ERISA shall include references to any successor section or
provision of ERISA.
	 
	1.25	 	“Financial Emergency” means an event which results (or will result) in severe financial
hardship to the Participant as a consequence of an illness or accident of the Participant, the
Participant’s spouse, the Participant’s Beneficiary or the Participant’s dependent (as
determined under Section 152 of the Code, without regard to Sections 152(b)(1), (b)(2) and
(d)(1)(B)) or loss of the Participant’s property due to casualty or other similar
extraordinary and unforeseen circumstances beyond the control of the Participant. Examples of
events that are not considered to be a Financial Emergency include the need to send a
Participant’s child to college and the desire to purchase a house.
	 
	1.26	 	“Hour of Service” means (1) each hour for which a Participant is directly or indirectly
compensated or entitled to compensation by the Company for the performance of duties (these
hours will be credited to the Employee for the computation period in which the duties are
performed); (2) each hour for which a Participant is directly or indirectly

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	 	 	compensated or entitled to compensation by the Company (irrespective of whether the
employment relationship has terminated) for reasons other than performance of duties (such
as vacation, holidays, sickness, jury duty, disability, lay-off, military duty or leave of
absence) during the applicable computation period (these hours will be calculated and
credited pursuant to Department of Labor regulation 2530.200b-2 which is incorporated herein
by reference); (3) each hour for which back pay is awarded or agreed to by the Company
without regard to mitigation of damages (these hours will be credited to the Participant for
the computation period or periods to which the award or agreement pertains rather than the
computation period in which the award, agreement or payment is made). The same Hours of
Service shall not be credited both under (1) or (2), as the case may be, and under (3).
	 
	 	 	Notwithstanding the above, (i) no more than 501 Hours of Service are required to be credited
to a Participant on account of any single continuous period during which the Employee
performs no duties (whether or not such period occurs in a single computation period); (ii)
an hour for which a Participant is directly or indirectly paid, or entitled to payment, on
account of a period during which no duties are performed is not required to be credited to
the Participant if such payment is made or due under a plan maintained solely for the
purpose of complying with applicable worker’s compensation, or unemployment compensation or
disability insurance laws; and (iii) Hours of Service are not required to be credited for a
payment which solely reimburses a Participant for medical or medically related expenses
incurred by the Participant.
	 
	 	 	For purposes of this Section, a payment shall be deemed to be made by or due from the
Company regardless of whether such payment is made by or due from the Company directly, or
the Company contributes or pays premiums and regardless of whether contributions made or due
to the trust fund, insurer, or other entity are for the benefit of a particular employee or
are on behalf of a group of employees in the aggregate.
	 
	 	 	For purposes of this Section, Hours of Service will be credited for employment with other
Affiliated Employers. The provisions of Department of Labor regulations 2530.200B-2(b) and
(c) are incorporated herein by reference.
	 
	1.27	 	“Hypothetical Investment” shall mean an investment fund or benchmark made available to
Participants by the Committee for purposes of valuing amounts contributed to the Plan.
	 
	1.28	 	“Investment Allocation Form” (i) shall apply with respect to those Deferral and Company
Contributions credited to the Plan after the effective date of the Investment Allocation Form
but prior to the timely filing of a subsequent Investment Allocation Form and (ii) shall
determine the manner in which such Deferral Contributions and Company Contributions, shall be
initially allocated by the Participant among the various Hypothetical Investments
within the Plan.
	 
	1.29	 	“Investment Re-allocation form” shall re-direct the manner in which earlier Deferral and
Company Contributions, as well as any appreciation (or depreciation) to date, are invested
with the Hypothetical Investments available in the Plan.

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	1.30	 	“1-Year Break in Service” means the applicable computation period during which an Employee
has not completed more than 500 Hours of Service with the Company. Further, solely for the
purpose of determining whether a Participant has incurred a 1-Year Break in Service, Hours of
Service shall be recognized for “authorized leaves of absence” and “maternity and paternity
leaves of absence.” Years of Service and 1-Year Breaks in Service shall be measured on the
same computation period.
	 
	 	 	“Authorized leave of absence” means an unpaid, temporary cessation from active employment
with the Company pursuant to an established nondiscriminatory policy, whether occasioned by
illness, military service, or any other reason.
	 
	 	 	A “maternity or paternity leave of absence” means, for Plan Years beginning after
December 31, 1984, an absence from work for any period by reason of the Participant’s
pregnancy, birth of the Employee’s child, placement of a child with the Employee in
connection with the adoption of such child, or any absence for the purpose of caring for
such child for a period immediately following such birth or placement. For this purpose,
Hours of Service shall be credited for the computation period in which the absence from work
begins, only if credit therefor is necessary to prevent the Participant from incurring a
1-Year Break in Service, or, in any other case, in the immediately following computation
period. The Hours of Service credited for a “maternity or paternity leave of absence” shall
be those which would normally have been credited but for such absence, or, in any case in
which the Committee is unable to determine such hours normally credited, eight (8) Hours of
Service per day. The total Hours of Service required to be credited for a “maternity or
paternity leave of absence” shall not exceed 501.
	 
	1.31	 	“Participant” shall mean any member of the Board of Directors or any Employee (i) who has W-2
earnings and is selected to participate in the Plan in accordance with Section 2.1, (ii) who
elects to participate in the Plan, (iii) who signs the applicable Enrollment Forms (and other
forms required by the Committee) on a timely basis, and (iv) whose signed Enrollment Forms
(and other required forms) are accepted by the Committee.
	 
	1.32	 	“Participation Agreement” shall mean the separate written agreement entered into by and
between the Employer and the Participant, which shall indicate the Participant’s intent to
defer compensation subject to the terms of the Plan and the Participation Agreement itself.
	 
	1.33	 	“Plan” shall mean the Genesco Inc. Deferred Income Plan which shall be evidenced by this
instrument, each Participation Agreement and by each Enrollment Form, as they may be amended
from time to time.
	 
	1.34	 	“Plan Year” shall mean the period beginning on January 1 of each year and ending December 31.
The initial Plan Year shall begin on July 1 and end on December 31.
	 
	1.35	 	“Retirement,” “Retirees” or “Retired” shall mean, with respect to an Employee, severance from
employment for any reason on or after the attainment of age fifty-five (55) if: (a) he has
completed at least 5 Years of Service; and (b) the sum of his age and his whole Years of
Service is equal to at least 70.

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	1.36	 	“Termination of Employment” shall mean with respect to an Employee, the voluntary or
involuntary severing of employment with the Company for any reason other than Retirement or
death. With respect to a Director, it shall mean the discontinuance of serving on the Board.
	 
	1.37	 	“Trust shall mean a grantor trust of the type commonly referred to as “rabbi trust” created
to “informally fund” contingent benefits payable under the Plan.
	 
	1.38	 	“Vested Account Balances” shall mean, the Account Balances defined in Section 1.1 multiplied
by the Vested Percentages of such Accounts as provided in Section 3.5.
	 
	1.39	 	“Year of Service” means the Plan Year (including years prior to the effective date of the
Plan) during which the Participant has at least 1000 Hours of Service.
	 
	 	 	Notwithstanding the foregoing, for any short Plan Year, the determination of whether a
Participant has completed a Year of Service shall be made in accordance with Department of
Labor regulation 2530.203-2(c).
	 
	 	 	If any Former Participant is reemployed after a 1-Year Break in Service has occurred, Years
of Service shall include Years of Service prior to his 1-Year Break in Service subject to
the following rules:

	 	(i)	 	Any Former Participant who under the Plan does not have any vested interest in
the Plan shall lose credits otherwise allowable if his consecutive 1-Year Breaks in
Service equal or exceed the greater of (A) five (5) or (B) the aggregate number of his
pre-break Years of Service.
	 
	 	(ii)	 	After five (5) consecutive 1-Year Breaks in Service, a Former Participant’s
Vested Account balance attributable to pre-break service shall not be increased as a
result of post-break service.

ARTICLE 2

Eligibility, Selection, Enrollment

	2.1	 	Eligibility, Selection by Committee. In addition to members of the Board of
Directors, those employees who are (i) determined by the Company to be includable in a select
group of management or highly compensated employees of the Company, (ii) specifically chosen
by the Company to participate in the Plan, and (iii) approved for such participation by the
Committee, in its sole discretion, shall be eligible to participate in the Plan subject to the
enrollment requirements described in Section 2.2.
	 
	2.2	 	Enrollment Requirements. Each individual deemed eligible to participate in the Plan
pursuant to Section 2.1, shall, as a condition to participating in the Plan, complete and
return to the Committee all of the required Enrollment Forms, on a timely basis. In addition,
the Committee shall in its sole discretion, establish such other enrollment requirements
necessary for continued participation in the Plan.

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	2.3	 	Commencement of Participants. Provided a Participant has met all enrollment
requirements set forth in this Plan and required by the Committee, including returning the
Enrollment Forms and other required documents to the Committee within the specified time
period, the Participant’s participation shall commence as of the date established by the
Committee in its sole discretion. If a Participant fails to meet all such requirements within
the specified time period with respect to any Plan Year, the Participant shall not be eligible
to participate during that Plan Year.

ARTICLE 3

Contributions, Investment Adjustments, Taxes and Vesting

	3.1	 	Deferral Contributions.

	 	(a)	 	Election to Defer. A Participant may make an election to defer the
receipt of amounts payable to the Participant, in the form of Director Fees or
Compensation, with respect to any Plan Year; provided that any such election must be
irrevocably made by December 31 of the Plan Year preceding the Plan Year to which the
election shall relate; provided further, in the case of the first year in which a
Participant becomes eligible to participate in the Plan, the Participant may make an
irrevocable initial deferral election with thirty (30) days after the date the
Participant becomes eligible to participate in the Plan, with respect to compensation
paid for services to be performed after the election. Subject to the previous
sentence, the Participant’s intent to defer shall be evidenced by a Participation
Agreement and Deferral Agreement, both completed and submitted to the Committee in
accordance with such procedures and time frames as may be established by the Committee
in its sole discretion. Amounts deferred by a Participant with respect to a given Plan
year shall be referred to collectively as a Deferral Contribution and shall be credited
to a Deferral Contribution Account established in the name of the Participant.
	 
	 	(b)	 	Components of Deferral Contributions.

	 	(i)	 	Compensation. Each Participant who is an employee of
the Company may elect to defer from 2% to 20% of his Compensation which would
have been received in the Plan Year, but for the deferral election. Such
percentage shall be withheld from each payment of Compensation.
	 
	 	(ii)	 	Director Fees. A Participant who is a member of the
Board may elect to defer up to 100% of his Director’s Fees which would have
been received in the Plan Year but for the deferred election. Such amount
shall be withheld from each payment of Director Fees.

	3.2	 	Company Contributions.

	 	(a)	 	Supplement to the Retirement Plan. Each Plan Year, the Company shall
credit to the Company Contribution Account for each Participant whose benefits in the
Retirement Plan for such Plan Year are reduced as a result of participating in this
Plan for such Plan Year an amount equal to (A) minus (B) with (A) being the

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	 	 	 	amount that would have been credited to the Participant’s account in the Retirement
Plan pursuant to Section 4.5(b) of such plan for the same Plan Year if the
Participant had not deferred any Compensation pursuant to Section 3.1 of this Plan
for such Plan Year and (B) being the amount credited to the Participant’s account in
the Retirement Plan pursuant to Section 4.5(b) of such Plan for the same Plan Year.
	 
	 	(b)	 	Supplement to the Salary Deferral Plan. If a Participant contributes
enough 401(k) contributions to the Salary Deferral Plan for a Plan Year so as to
receive the maximum matching contribution available that year as a percent of
compensation, then the Company shall credit an additional amount to his Company
Contribution Account for such Participant for such Plan Year equal to (C) minus (D)
with (C) being the amount that would have been contributed to the Salary Deferral Plan
for the Participant as matching contributions for such Plan Year if the Participant had
not deferred any Compensation pursuant to section 3.1 of this Plan and (D) being the
amount that is contributed to the Salary Deferral Plan for the Participant as matching
contributions for the same Plan Year.

	3.3	 	Selection of Hypothetical Investments. The Participant shall, via his Investment
Allocation Form(s), as more fully described in Section 1.28, and his Investment Re-Allocation
Form(s), as more fully described in Section 1.29, select one or more Hypothetical Investments
among which his various contributions shall be distributed. The Committee shall provide the
Participant with a list of Hypothetical Investments available. From time to time, in the sole
discretion of the Committee, the Hypothetical Investments available within the Plan may be
revised. All Hypothetical Investment selections must be denominated in whole percentages. A
Participant may make changes in his selected Hypothetical Investments from time to time via
submission of a new Investment Allocation Form, as described in and subject to the language of
Section 1.28 or submission of a new Investment Re-Allocation Form, as described in and subject
to the language of Section 1.29.
	 
	3.4	 	Adjustment of Participant Accounts. While a Participant’s accounts do not represent
the Participant’s ownership of, or any ownership interest in, any particular assets, the
Participant’s accounts shall be adjusted in accordance with the Hypothetical Investment(s)
chosen by the Participant on his (i) Investment Allocation Form or (ii) Investment
Re-Allocation Form, subject to the conditions and procedures set forth herein or established
by the Committee from time to time. The Participant’s Accounts will be credited on a daily
basis with the increase or decrease in the realizable net asset value and/or credited interest
and dividend as applicable to the Hypothetical Investments. Any cash earnings generated under
a Hypothetical Investment (such as interest and cash dividends and distributions) shall, at
the Committee’s sole discretion, either be deemed to be reinvested in the Hypothetical
Investment or reinvested in one or more other Hypothetical Investment(s) designed by the
Committee. All notional acquisitions and dispositions of Hypothetical Investments which occur
within a Participant’s accounts, pursuant to the terms of the Plan, shall be deemed to occur
at such times as the Committee shall determine to be administratively feasible in its sole
discretion and the Participant’s accounts shall be adjusted accordingly. Notwithstanding
anything to the contrary, any Investment Adjustments made to any Participants’ accounts
following a

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	 	 	Change in Control shall be made in a manner no less favorable to Participants than the
practices and procedures employed under the Plan, or as otherwise in effect, as of the date
of the Change in Control. For purposes of determining the amount to be distributed to a
Participant, the Participant’s Account Balance shall be valued as of the last day of the
month preceding the month of the distribution.
	 
	3.5	 	Vesting. The Participant shall at all times be one hundred percent (100%) vested in
his Deferral Contribution Account. The Participant shall become one hundred percent (100%)
vested in his Company Contribution Account after the earlier of (1) being credited with five
(5) Years of Service, (2) his death or (3) reaching the age of Retirement as defined in
Section 1.35. The Participant shall be zero (0) vested in his Company Contribution Account
immediately prior to the date he becomes one hundred percent (100%) vested as provided above.

ARTICLE 4

Suspension of Deferrals

	4.1	 	Financial Emergencies. If a Participant experiences a Financial Emergency, the
Participant may petition the Committee to suspend any deferrals required to be made by the
Participant pursuant to his current Deferral Agreement. The Committee shall determine, in its
sole discretion, whether to approve the Participant’s petition. If the petition for a
suspension is approved, suspension shall commence upon the date of approval and shall continue
until the end of the Plan Year. All determinations pursuant to this Section 4.1 shall be made
consistent with Section 409A of the Code and the regulations promulgated thereunder.
	 
	4.2	 	Leave of Absence. If a Participant is authorized by the Company for any reason to
take an unpaid leave of absence from the employment of the Company, the Participant’s
deferrals shall be suspended until the earlier of the date the leave of absence expires or the
Participant returns to a paid employment status. Upon such expiration or return, deferrals
shall resume for the remaining portion of the Plan Year in which the expiration or return
occurs, based on the Deferral Agreement, if any, made for that Plan Year. If no election was
made for that Plan Year, no deferral shall be withheld. If a Participant is authorized by the
Company for any reason to take a paid leave of absence from the employment of the
Company, the Participant shall continue to be considered employed by the Company and the
appropriate amounts shall continue to be withheld from the Participant’s compensation pursuant
to the Participant’s then current Deferral Agreement.

ARTICLE 5

In-Service Distributions

	5.1	 	Elected Distribution from the Deferral Compensation Account. As noted in Section
1.4, at the time each deferral is made, a Participant may elect a Benefit Distribution Date
for his Deferral Contribution Account prior to the Participant’s Termination of Employment,
but no sooner than three years from the end of the Plan Year of the deferral. At the time of
such election, the Participant may elect to receive such distribution in a lump sum payment or
in substantially equal annual payments over a period of up to fifteen (15) years. If no
election is made as to the former payment, such distribution shall be made to

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	 	 	the Participant on such Benefit Distribution Date in a lump sum payment. If the Participant
elects annual payments, the initial installment shall be based on the value of the
Participant’s Deferral Contribution Account, measured on the Benefit Distribution Date
elected, and shall be equal to 1/n (“n” being equal to the total number of annual benefit
payments not yet distributed). Subsequent installment payments shall be computed in a
consistent fashion, with the measurement date being the anniversary of the Original
Measurement Date. In any case, if the Participant’s Deferral Contribution Account is equal
to or less than $10,000 on his elected Benefit Distribution Date, his benefits shall be paid
out in a lump sum, regardless of his payment election.
	 
	5.2	 	Withdrawal in the Event of a Financial Emergency. A Participant who believes he has
experienced a Financial Emergency may request in writing a withdrawal of a portion of his
Accounts necessary to satisfy the emergency. Within fifteen (15) days of the request, the
Committee shall determine, in its sole discretion, (i) whether a Financial Emergency has
occurred, (ii) the amount reasonably required to satisfy the Financial Emergency as well as
(iii) the accounts from which the withdrawal shall be made; provided, however, that the
withdrawal shall not exceed the Participant’s Vested Account Balances. In making any
determinations under this Section 5.2, the Committee shall be guided by the prevailing
authorities under the Code. If, subject to the sole discretion of the Committee, the petition
for a withdrawal is approved, the distribution shall be made no later than the twentieth
(20th) day of the month following the Benefit Distribution Date.
	 
	5.3	 	Loans. No loans are allowed under this Plan.

ARTICLE 6

Benefit Upon Termination of Employment

	6.1	 	Termination Benefit. In the event the Participant’s Benefit Distribution Date is
triggered due to his Termination of Employment (as such term is defined in Section 1.36), the
Participant shall receive his Vested Account Balances in a lump sum payment no later than the
twentieth (20th) day of the month following the Benefit Distribution Date.
	 
	6.2	 	Death Prior to Payment of Termination Benefit. If a Participant dies after his
Termination of Employment but before his Vested Account Balances are paid to him, such benefit
shall be paid to the Participant’s Beneficiary in a lump sum payment no later than the
twentieth (20th) day of the month following the Benefit Distribution Date.

ARTICLE 7

Benefit Upon Retirement

	7.1	 	Retirement Benefit. In the event the Participant’s Benefit Distribution Date is
triggered due to his Retirement (as such term is defined in Section 1.35), the Participant
shall receive his Vested Account Balances as provided in Article 9 and such benefits shall
commence (or be fully paid, in the event a lump sum form of distribution was selected) no
later than the twentieth (20th) day of the month following the date of the Benefit
Distribution Date.

11

 

	7.2	 	Death Prior to Completion of Retirement Benefit. If a Participant dies after
Retirement but before the benefits have commenced or been paid in full, the Participant’s
unpaid benefit payments shall continue to be paid to the Participant’s Beneficiary in the form
designated by the Participant at deferral until the Participant’s remaining Vested Account
Balances have been depleted.

ARTICLE 8

Pre-Retirement Death Benefit

	8.1	 	Pre-Retirement Death Benefit. In the event the Participant’s Benefit Distribution
Date is triggered due to his death during employment or service on the Board, the
Participant’s Beneficiary shall receive the pre-retirement death benefit described below and
no other benefits shall be payable under the Plan.
	 
	8.2	 	Payment of Pre-Retirement Death Benefit. The pre-retirement death benefit shall be
paid to the Beneficiary in the forms selected by the Participant pursuant to Article 9 and
shall commence (or be fully paid in the event a lump sum form of distribution was selected) no
later than sixty (60) days after the death of the Participant.

ARTICLE 9

Form of Distributions; Payment Delays

	9.1	 	Distribution Elections. Unless the Participant elects otherwise, his Benefit
provided for in Articles 7 and 8 shall be paid in a lump sum. However, at the time of a
deferral election, a Participant who is an Employee may elect to have his Account Balances
attributable to Contributions made on or after such election and before any subsequent
elections paid in substantially equal annual payments over a period of up to fifteen (15)
years. The initial installment shall be based on the value of the Participant’s Vested
Account Balances, measured on his Benefit Distribution Date and shall be equal to 1/n (where
“n” is equal to the total number of annual benefit payments not yet distributed). Subsequent
installment payments shall be computed in a consistent fashion, with the measurement date
being the anniversary of the Original Measurement Date. In the event the Participant’s Vested
Account Balances are equal to or less than $10,000, his benefit shall be paid out in a lump
sum.
	 
	9.2	 	Effect of Section 409A of the Code. It is intended that (1) each installment of the
payments provided under this Plan is a separate “payment” for purposes of Section 409A of the
Code (“Section 409A”), and (2) that the payments satisfy, to the greatest extent possible, the
exemptions from the application of Section 409A provided under Treasury Regulation Sections
1.409A-1(b)(4), 1.409A-1(b)(9)(iii), and 1.409A-1(b)(9)(v). Notwithstanding anything to the
contrary in this Plan, if the Company determines (i) that on the date a Participant’s
employment with the Company terminates or at such other time that the Company determines to be
relevant, the Participant is a “specified employee” (as such term is defined under Treasury
Regulation Section 1.409A-1(i)(1)) of the Company and (ii) that any payments to be provided to
the Participant pursuant to this Plan are or may become subject to the additional tax under
Section 409A(a)(1)(B) of the Code or any other taxes or penalties imposed under Section 409A
of the Code (“Section 409A Taxes”) if provided at the time otherwise required under this Plan,
then such

12

 

	 	 	payments shall be delayed until the date that is six months after the date of the
Participant’s “separation from service” (as such term is defined under Treasury Regulation
Section 1.409A-1(h)) with the Company, or such shorter period that, as determined by the
Company, is sufficient to avoid the imposition of Section 409A Taxes.

ARTICLE 10

Beneficiary Designation

	10.1	 	Beneficiary. Each Participant shall have the right, at any time, to designate a
Beneficiary or Beneficiaries to receive, in the event of the Participant’s death, those
benefits payable under the Plan. The Beneficiary(ies) designated under this Plan may be the
same as or different from the Beneficiary designation made under any other plan of the
Company.
	 
	10.2	 	Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his
Beneficiary by completing and signing a Beneficiary Designation Form, and returning it to the
Committee or its designated agent. A Participant shall have the right to change his
Beneficiary by completing, signing and submitting to the Committee a revised Beneficiary
Designation Form in accordance with the Committee’s rules and procedures, as in effect from
time to time. Upon acknowledgment by the Committee of a revised Beneficiary Designation Form,
all Beneficiary designations previously filed shall be deemed canceled. The Committee shall
be entitled to rely on the last Beneficiary Designation Form both (i) filed by the Participant
and (ii) acknowledged by the Committee, prior to his death.
	 
	10.3	 	Acknowledgment. No designation or change in designation of a Beneficiary shall be
effective until received, accepted and acknowledged in writing by the Committee or its
designated agent.
	 
	10.4	 	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as
provided above or, if all designated Beneficiaries predecease the Participant or die prior to
complete distribution of the Participant’s benefits, then the benefits remaining under the
Plan shall be payable to the executor or personal representative of the Participant’s estate.
	 
	10.5	 	Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary
to receive payments pursuant to this Plan, the Committee shall have the right, exercisable in
its discretion, to cause the Company to withhold such payments until this matter is resolved
to the Committee’s satisfaction.
	 
	10.6	 	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary
shall fully and completely discharge the Company and the Committee from all further
obligations under this Plan with respect to the Participant, and the Participant’s
Participation Agreement shall terminate upon such full payment of benefits.

ARTICLE 11

Termination, Amendment or Modification

	11.1	 	Termination or Suspension. The Company reserves the right, at any time, to terminate
the Plan. The Plan, but not the Trust, automatically shall terminate upon the dissolution

13

 

		 	of the Company or upon its merger into or consolidation with any other corporation or
business organization if there is a failure by the surviving corporation or business
organization to adopt specifically and agree to continue the Plan. Upon the termination of
suspension of the Plan, all amounts credited to the accounts of each affected Participant
shall become fully vested.
	 
	11.2	 	Amendment. The Company may, at any time, amend or modify the Plan in whole or in
part by the actions of the board; provided, however, that (i) no amendment or modification
shall be effective to decrease or restrict the value of a Participant’s Account Balance in
existence at the time the amendment or modification is made, calculated as if the Participant
had experienced a Termination of Employment as of the effective date of the amendment or
modification, or, if the amendment or modification occurs after the date upon which the
participant was eligible to Retire, calculated as if the Participant had retired as of
the effective date of the amendment and modification, and (ii) except as specifically provided
in Section 10.1, no amendment or modification shall be made after a Change in Control which
adversely affects the vesting, calculation or payment of benefits hereunder or diminishes any
other rights or protections any Participant or Beneficiary would have had, but for such
amendment or modification, unless each affected Participant or Beneficiary consents in writing
to such amendment.
	 
	11.3	 	Effect of Payment. The full payment of the applicable benefit under the provisions
of the Plan shall completely discharge all obligations to a Participant and his designated
Beneficiaries under this Plan and each of the Participant’s Participation Agreements shall
terminate.

ARTICLE 12

Administration

	12.1	 	Committee Duties. This Plan shall be administered by a Committee which shall consist
of the Board, or such committee as the Board shall appoint. Members of the Committee may be
Participants under this Plan. The Committee shall also have the discretion and authority to
(i) mark, amend, interpret, and enforce all appropriate rules and regulations for the
administration of this Plan and (ii) decide or resolve any and all questions including
interpretations of this Plan, as may arise in the connection with the Plan. Any individual
serving on the Committee who is a Participant shall not vote or act on any matter relating
solely to himself or herself. When making a determination or calculation, the Committee shall
be entitled to rely on information furnished by Participant or the Company.
	 
	12.2	 	Agents. In the administration of this Plan, the Committee may, from time to time,
employ agents and delegate to them such administrative duties as it sees fit (including acting
through a duly appointed representative) and may from time to time consult with counsel who
may be counsel to the Company.
	 
	12.3	 	Binding Effect of Decisions. The decision or action of the Committee with respect to
any question arising out of or in connection with the administration, interpretation and
application of the Plan and rules and regulations promulgated hereunder shall be final and
conclusive and binding upon all persons having any interest in the Plan.

14

 

	12.4	 	Indemnity of Committee. The Company shall indemnify and hold harmless the members of
the Committee, and any Employee to whom duties of the Committee may be delegated, against any
and all claims, losses, damages, expenses or liabilities arising from any action or failure to
act with respect to this Plan, except in the case of willful misconduct by the Committee or
any of its members or any such employee.
	 
	12.5	 	Employer Information. To enable the Committee to perform its functions, the Company
shall supply full and timely information to the Committee on all matters relating to the
compensation of its Participants, the date and circumstances of the Retirement, Disability,
death or Termination of Employment of its Participants, and such other pertinent information
as the Committee may reasonably require.

ARTICLE 13

Other Benefits and Agreements

The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in
addition to any other benefits available to such Participant under any other plan or program for
employees of the Company. The Plan shall supplement and shall not supersede, modify or amend any
other such plan or programs except as may otherwise be expressly provided.

ARTICLE 14

Claims Procedures

	14.1	 	Presentation of Claim. Any Participant or Beneficiary of a deceased Participant
(such Participant or Beneficiary being referred to below as a “Claimant”) may deliver to the
Committee a written claim for a determination with respect to the amounts distributable to
such Claimant from the Plan. If such a claim relates to the contents of a notice received by
the Claimant, the claim must be made within sixty (60) days after such notice was received by
the Claimant. The claim must state with particularity the determination desired by the
Claimant. All other claims must be made within one hundred eighty (180) days of the date on
which the event had caused the claim to arise occurred. The claim must state with
particularity the determination desired by the Claiming.
	 
	14.2	 	Notification of Decision. The Committee shall consider a Claimant’s claim within a
reasonable time, and shall notify the Claimant in writing:

	 	(a)	 	that the Claimant’s requested determination has been made, and that the claim
has been allowed in full; or
	 
	 	(b)	 	that the Committee has reached a conclusion contrary, in whole or in part, to
the Claimant’s requested determination, and such notice must set forth in a manner
calculated to be understood by the Claimant:

	 	(i)	 	the specific reason(s) for the denial of the claim, or any part
of it;
	 
	 	(ii)	 	specific reference(s) to pertinent provisions of the Plan upon
which such denial was based;

15

 

	 	(iii)	 	a description of any additional material or information
necessary for the Claimant to perfect the claim, and an explanation of why such
material or information is necessary; and
	 
	 	(iv)	 	an explanation of the claim review procedure set forth in
Section 14.3 below.

	14.3	 	Review of a Denied Claim. Within sixty (60) days after receiving a notice from the
Committee that a claim has been denied, in whole or in part, a Claimant (or the Claimant’s
duly authorized representative) may file with the Committee a written request for a review of
the denial of the claim. Thereafter, but not later than thirty (30) days after the review
procedure began, the Claimant (or the Claimant’s duly authorized representative):

	 	(a)	 	may review pertinent documents;
	 
	 	(b)	 	may submit written comments or other documents; and/or
	 
	 	(c)	 	may request a hearing, which the Committee, in its sole discretion, may grant.

	14.4	 	Decision on Review. The Committee shall render its decision on review promptly, and
not later than sixty (60) days after the filing of a written request for review of the denial,
unless a hearing is held or other special circumstances require additional time, in which case
the Committee’s decision must be rendered within one hundred twenty (120) days after such
date. Such decision must be written in a manner calculated to be understood by the Claimant,
and it must contain:

	 	(a)	 	specific reasons for the decision;
	 
	 	(b)	 	specific reference(s) to the pertinent Plan provisions upon which the decision
was based; and
	 
	 	(c)	 	such other matters as the Committee deems relevant.

ARTICLE 15

Trust

	15.1	 	Establishment of the Trust. The Company may establish one or more Trusts to which
they may transfer such assets as the Company determines in its sole discretion to assist in
meeting their obligations under the Plan.
	 
	15.2	 	Interrelationship of the Plan and the Trust. The provisions of the Plan and the
Participation Agreement shall govern the rights of a Participant to receive distributions
pursuant to the Plan. The provisions of the Trust shall govern the rights of the Company,
Participants and the creditors of the Company to the assets transferred to the Trust.

16

 

	15.3	 	Distributions from the Trust. The Company’s obligations under the Plan may be
satisfied with Trust assets distributed pursuant to the terms of the Trust, and any such
distribution shall reduce the Company’s obligations under this Agreement.

ARTICLE 16

Miscellaneous

	16.1	 	Status of Plan. The Plan is intended to be a plan that is not qualified within the
meaning of Code Section 401(a) and that “is unfunded and is maintained by an employer
primarily for the purpose of providing deferred compensation for a select group of management
or highly compensated employees” within the meaning of ERISA. The Plan shall be administered
and interpreted to the extent possible in a manner consistent with that intent. All
Participant accounts and all credits and other adjustments to such Participant accounts shall
be bookkeeping entries only and shall be utilized solely as a device for the measurement and
determination of amounts to be paid under the Plan. No Participant accounts, credits or other
adjustments under the Plan shall be interpreted as an indication that any benefits under the
Plan are in any way funded.
	 
	16.2	 	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors
and assigns shall have no legal or equitable rights, interests or claims in any property or
assets of the Company. For purposes of the payment of benefits under this Plan, any and all
of the Company’s assets shall be, and remain, the general, unpledged, unrestricted assets of
the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and
unsecured promise to pay money in the future.
	 
	16.3	 	Company’s Liability. The Company’s liability for the payment of benefits shall be
defined only by the Plan and the Participation Agreement, as entered into between the Company
and a Participant. The Company shall have no obligation to a Participant under the Plan
except as expressly provided in the Plan and his Participation Agreement.
	 
	16.4	 	Nonassignability. Neither a Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer,
hypothecate, alienate or convey in action receipt, the amount, if any, payable hereunder, or
any part thereof, which are, and all right to which are expressly declared to be, unassignable
and non-transferable. No part of the amounts payable shall, prior to actual payment, be
subject to seizure, attachment, garnishment or sequestration for the payment of any debts,
judgments, alimony or separate maintenance owned by a Participant or any other person, be
transferable by operation of law in the event of a Participant’s or any other person’s
bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement
or otherwise.
	 
	16.5	 	Not a Contract of Employment. Under the terms and conditions of this Plan and the
Participation Agreement, this Plan shall not be deemed to constitute a contract of employment
between the Company and the Participant. Such employment is hereby acknowledged to be an “at
will” employment relationship that can be terminated at any time for any reason, or no reason,
with or without cause, and with or without notice, except as otherwise provided in a written
employment agreement. Nothing in this Plan or any Participation Agreement shall be deemed to
give a Participant the right to be retained

17

 

	 	 	in the service of the Company or to interfere with the right of the Company to discipline or
discharge the Participant at any time.
	 
	16.6	 	Furnishing Information. A Participant or his Beneficiary will cooperate with the
Committee by furnishing any and all information requested by the Committee and take such other
actions as may be requested in order to facilitate the administration of the Plan and the
payments of benefits hereunder, including but not limited to taking such physical examinations
as the Committee may deem necessary.
	 
	16.7	 	Terms. Whenever any words are used herein in the masculine, they shall be construed
as though they were in the feminine in all cases where they would so apply; and whenever any
words are used herein in the singular or in the plural, they shall be construed as though they
were used in the plural or the singular, as the case may be, in all cases where they would so
apply.
	 
	16.8	 	Captions. The captions of the articles, sections or paragraphs of this Plan are for
convenience only and shall not control or affect the meaning or construction of any of its
provisions.
	 
	16.9	 	Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and
interpreted according to the internal laws of the State of Tennessee without regard to its
conflicts of laws principles.
	 
	16.10	 	Notice. Any notice or filing required or permitted to be given to the Committee
under this Plan shall be sufficient if in writing and hand-delivered, or sent by registered or
certified mail, to the address below:

Genesco Inc.

P. O. Box 731

Nashville, Tennessee 37202

Attention: General Counsel

	 	 	Such notice shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of the date shown on the postmark or the receipt for registration or certification.
	 
	 	 	Any notice or filing required or permitted to be given to a Participant under this Plan
shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known
address of the Participant.
	 
	16.11	 	Successors. The provisions of this Plan shall bind and inure to the benefit of the
Company and its successors and assigns and the Participant and the Participant’s designated
Beneficiaries.
	 
	16.12	 	Validity. In case any provision of this Plan shall be illegal or invalid for any
reason, said illegality or invalidity shall not affect the remaining parts hereof, but this
Plan shall be construed and enforced as if such illegal or invalid provision had never been
inserted herein.

18

 

	16.13	 	Incompetent. If the Committee determines in its discretion that a benefit under
this Plan is to be paid to a minor, a person declared incompetent or to a person incapable of
handling the disposition of that person’s property, the Committee may direct payment of such
benefit to the guardian, legal representative or person having the care and custody of such
minor, incompetent or incapable person. The Committee may require proof of minority,
incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of
the benefit. Any payment of a benefit shall be a payment for the account of the Participant
and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of
any liability under the Plan for such payment amount.
	 
	16.14	 	Distribution in the Event of Taxation. If, for any reason, all or any portion of a
Participation’s benefit under this Plan becomes taxable to the Participant prior to a receipt,
a Participant may petition the Committee or the trustee of the Trust, as applicable, for a
distribution of that portion of his benefit that has become taxable. Upon the grant of such a
petition, which grant shall not be unreasonably withheld, the Company shall distribute to the
Participant immediately, funds in an amount equal to the taxable portion of his benefit (which
amount shall not exceed a Participant’s unpaid Account Balances under the Plan). If the
petition is granted, the tax liability distribution shall be made within ninety (90) days of
the date when the participant’s petition is granted. Such a distribution shall affect and
reduce the benefits to be paid under this Plan.
	 
	16.15	 	Insurance. The Company, on its own behalf or on behalf of the trustee of the Trust,
and, in its sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as the Trust may choose. The Company or the
trustee of the Trust, as the case may be, shall be the sole owner and beneficiary of any such
insurance. The Participant shall have no interest whatsoever in any such policy or policies,
and at the request of the Company shall submit to medical examinations and supply such
information and execute such documents as may be required by the insurance company or
companies to whom the Company has applied for insurance.

19EX-10.U Genesco Employee Stock Purchase Plan

 

Exhibit (10)u.

AMENDED AND RESTATED

GENESCO EMPLOYEE STOCK PURCHASE PLAN

(as amended effective August 22, 2007)

ARTICLE I.

INTRODUCTION

     1.1 Establishment of Plan

     Genesco Inc., a Tennessee corporation (“Genesco”) with principal offices located in Nashville,
Tennessee, adopts the following employee stock purchase plan for its eligible employees, effective
on October 1, 1995, as amended effective October 1, 2005, and August 22, 2007, subject to Section
3.1. This Plan shall be known as the Genesco Employee Stock Purchase Plan.

     1.2 Purpose

     The purpose of this Plan is to provide an opportunity for eligible employees of the Employer
to become shareholders in Genesco. It is believed that broad-based employee participation in the
ownership of the business will help to achieve the unity of purpose conducive to the continued
growth of the Employer and to the mutual benefit of its employees and shareholders.

     1.3 Qualification

     This Plan is intended to be an employee stock purchase plan which qualifies for favorable
Federal income tax treatment under Section 423 of the Code and is intended to comply with the
provisions thereof, including the requirement of Section 423(b)(5) of the Code that all Employees
granted options to purchase Shares under the Plan have the same rights and privileges with respect
to such options.

     1.4 Rule 16b-3 Compliance

     This Plan is intended to comply with Rule 16b-3 under the Securities Exchange Act of 1934, and
should be interpreted in accordance therewith.

ARTICLE II.

DEFINITIONS

     As used herein, the following words and phrases shall have the meanings specified below:

     2.1 Closing Market Price

     The last sale price of the Shares as reported on the New York Stock Exchange on the date
specified or, if no sales occurred on such day, on the most recent day when sales occurred; but if

 

 

there should be any material alteration in the present system of reporting sales prices of
such Shares, or if such Shares should no longer be listed on the New York Stock Exchange, the
market value of the Shares as of a particular date shall be determined in such a method as shall be
specified by the Plan Administrator.

     2.2 Code

     The Internal Revenue Code of 1986, as amended from time to time.

     2.3 Contribution Account

     The account established on behalf of a Participant to which shall be credited the amount of
the Participant’s contribution, pursuant to Article V.

     2.4 Employee

     Each employee of an Employer (a) who is not a Highly Compensated employee as described in Code
Section 414(q), (b) who is not a Statutory Insider, and (c) whose customary employment by the
Employer is greater than 20 hours per week and greater than five months per year.

     2.5 Employer

     Genesco or any corporation (i) which is a Subsidiary of Genesco, (ii) which is authorized by
the Board of Directors to adopt this Plan with respect to its Employees, and (iii) which adopts
this Plan. The term “Employer” shall include any corporation into which an Employer may be merged
or consolidated or to which all or substantially all of its assets may be transferred, provided
such corporation does not affirmatively disavow this Plan.

     2.6 Exercise Date

     The last trading date of the Plan Year on the New York Stock Exchange.

     2.7 Exercise Price

     The price per share of the Shares to be charged to Participants at the Exercise Date, as
determined in Section 6.3.

     2.8 Five-Percent Shareholder

     An Employee who owns five percent or more of the total combined voting power or value of all
classes of stock of Genesco or any Subsidiary thereof. In determining this five percent test,
shares of stock which the Employee may purchase under outstanding options, as well as stock
attributed to the Employee under Section 424(d) of the Code, shall be treated as stock owned by the
Employee in the numerator, but shares of stock which may be issued under options shall not be
counted in the total of outstanding shares in the denominator.

2

 

     2.9 Grant Date

     The first trading day on the New York Stock Exchange on or after October 1 of each year.

     2.10 Participant

     Any Employee of an Employer who has met the conditions for eligibility as provided in Article
IV and who has elected to participate in the Plan.

     2.11 Plan

     The Genesco Employee Stock Purchase Plan.

     2.12 Plan Administrator

     The committee composed of one or more individuals to whom authority is delegated by Genesco’s
board of directors to administer the Plan. The Plan Administrator shall initially be the
Compensation Committee of Genesco’s board of directors.

     2.13 Plan Year

     The Plan year shall be coterminous with the fiscal year of Genesco. The enrollment year shall
be the first day of October and ending on the last day of September in the following calendar year.
The initial enrollment year commenced on October 1, 1995. The 2007 Plan Year (February 1, 2007 to
January 31, 2008) and the 2006 enrollment year (October 1, 2006 to September 30, 2007) shall each
respectively end on September 28, 2007 and the 2007 Plan and the 2006 enrollment year shall be the
final Plan Year and enrollment year under this Plan.

     2.14 Shares

     Those shares of common stock of Genesco which are reserved pursuant to Section 6.1 for
issuance upon the exercise of options granted under this Plan.

     2.15 Statutory Insider

     Any individual subject to Section 16(a) of the Securities Exchange Act of 1934, as amended,
and any other person so designated by resolution of the Board of Directors.

     2.16 Subsidiary

     Any corporation (other than Genesco) in an unbroken chain of corporations beginning with
Genesco if, at the time of the granting of the option, each of the corporations other than the last
corporation in the chain owns stock possessing 50% or more of the combined voting power of all
classes of stock in one of the other corporations in such chain.

3

 

     2.17 Merger Agreement

     The Agreement and Plan of Merger by and among The Finish Line, Inc., Headwind, Inc. and
Genesco Inc. dated June 17, 2007.

ARTICLE III.

SHAREHOLDER APPROVAL

     3.1 Shareholder Approval of Plan

     If the Plan is not approved by the shareholders of Genesco before October 1, 1995, it shall
not take effect.

     3.2 Shareholder Approval for Certain Amendments

     Without the approval of the shareholders of Genesco, no amendment to this Plan shall:

	 	(i)	 	increase the number of Shares reserved under the Plan, other than as provided
in Section 10.3;
	 
	 	(ii)	 	make participation in the Plan available to any person who is not an Employee;
or
	 
	 	(iii)	 	make participation in the Plan available to employees or any corporation other
than Genesco or any Subsidiary which adopts the Plan.

     Approval by shareholders must comply with applicable provisions of the corporate charter and
bylaws of Genesco, and with Tennessee law prescribing the method and degree of shareholder approval
required for issuance of corporate stock or options.

ARTICLE IV.

ELIGIBILITY AND PARTICIPATION

     4.1 Conditions

     Each Employee shall become eligible to become a Participant on October 1, 1995 or any October
1 thereafter if such Employee has been employed by the Employer for a continuous period of at least
six months prior to such date. No Employee who is a Five-Percent Shareholder shall be eligible to
participate in the Plan. Notwithstanding anything to the contrary contained herein, no individual
who is not an Employee shall be granted an option to purchase Shares under the Plan.

     4.2 Application for Participation

     Each Employee who becomes eligible to participate shall be furnished a summary of the Plan and
an enrollment form. If such Employee elects to participate hereunder, he shall complete such form
and file it with his Employer no later than the next September 15. The completed enrollment form
shall indicate the amount of Employee contribution authorized by the

4

 

Employee. If no new enrollment form is filed by a Participant in advance of any Plan Year
after the initial Plan Year, that Participant shall be deemed to have elected to continue to
participate with the same contribution previously elected (subject to the limit of 15% of base
pay).

     4.3 Date of Participation

     All Employees who elect to participate shall be enrolled in the Plan commencing with the first
paydate after the October 1 following their submission of the enrollment form. Upon becoming a
Participant, the Participant shall be bound by the terms of this Plan, including any amendments
whenever made.

ARTICLE V.

CONTRIBUTION ACCOUNT

     5.1 Employee Contributions

     The enrollment form signed by each Participant shall authorize the Employer to deduct from the
Participant’s compensation an after-tax amount in an exact number of dollars during each payroll
period which may not be less than five dollars ($5.00) nor more than 15% of the Participant’s base
pay on the October 1 on which his enrollment is effective. The term “base pay” shall be determined
before subtracting any of the Employee’s contributions to the Genesco 401(k) plan and the Flexible
Spending Accounts Plan. The dollar amount deducted on each paydate shall be credited to the
Participant’s Contribution Account. No interest will accrue on any contributions or on the balance
in a Participant’s Contribution Account. The Company’s obligations to Participants with respect to
the Contributions under the Plan are unfunded and unsecured and Participants, their heirs and Legal
Representatives are unsecured general creditors with no legal rights or claims to any particular
assets of the Company. No Participant contributions shall be accepted by the Employer under this
Plan after September 28, 2007.

     5.2 Modification of Contribution Rate

     No change shall be permitted in a Participant’s amount of withholding except upon October 1,
and then only if the Participant files a new enrollment form with the Employer at least 15 days in
advance of such date designating the desired withholding rate; except that a Participant may notify
the Employer at any time (except during the period from September 15 through September 30) that he
wishes to discontinue his contributions. This notice shall be in writing and on such forms as
provided by the Employer and shall become effective as of a date provided on the form not more than
30 days following its receipt by the Employer. If a Participant discontinues his or her
participation in the Plan, the Participant may withdraw his or her account balance or leave the
account balance in the Plan and his or her election to purchase for such enrollment year shall
remain in effect. If the election to purchase is not subsequently withdrawn and the Participant
does not terminate employment, the account balance will be applied to the purchase of Shares on the
Exercise Date.

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     5.3 Withdrawal of Contributions

     A Participant may elect to withdraw the balance of his Contribution Account at any time during
the Plan Year prior to the Exercise Date (except during the period from September 15 through
September 30). The option granted to a Participant shall be canceled upon his withdrawal of the
balance in his Contribution Account. The election to withdraw must be in writing on such forms as
may be provided by the Employer. No further contributions may be made with respect to a Plan Year
in which a withdrawal occurs.

ARTICLE VI.

ISSUANCE AND EXERCISE OF OPTIONS

     6.1 Reserved Shares of Stock

     Genesco has reserved 1,000,000 Shares for issuance upon exercise of the options granted under
this Plan. Subject to adjustment pursuant to Section 10.3, the aggregate number of Shares which
may be purchased by Participants pursuant to options granted under the Plan shall not exceed the
number of Shares reserved hereunder. Shares may, however, be originally issued by Genesco or
purchased by Genesco on the open market, in the discretion of the Plan Administrator.

     6.2 Issuance of Options

     On the Grant Date each Participant shall be deemed to receive an option to purchase a number
of Shares at an Exercise Price determined as provided in this Article VI.

     6.3 Determination of Exercise Price

     The Exercise Price of the options granted under this Plan for any Plan Year shall be
ninety-five percent (95%) of the Closing Market Price of the Shares on the Exercise Date.

     6.4 Purchase of Shares

     On an Exercise Date, all of the options which were granted on the previous Grant Date and
which have not subsequently been canceled pursuant to the provisions of the Plan shall be
automatically exercised. The Contribution Account of each Participant shall be used to purchase the
number of whole Shares determined by dividing the Exercise Price into the balance of the
Participant’s Contribution Account. Any money remaining in a Participant’s Contribution Account
representing a fractional share shall remain in his Contribution Account to be used in the next
Plan Year along with new contributions in the next Plan Year; provided, however, that if the
Participant does not enroll for the next Plan Year, the balance remaining shall be returned to him
in cash.

     6.5 Terms of Options

     Options granted under this Plan shall be subject to such amendment or modification as the Plan
Administrator shall deem necessary to comply with any applicable law or regulation,

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including but not limited to Section 423 of the Code, and shall contain such other provisions
as the Plan Administrator shall from time to time approve and deem necessary.

     6.6 Limitations on Options

     The options granted hereunder are subject to the following limitations:

	 	(a)	 	The maximum number of Shares which may be purchased by any Participant on an
Exercise Date shall be equal to the lesser of

	 	(i)	 	2,000 shares, or
	 
	 	(ii)	 	$10,000 divided by the Closing Market Price on the Grant Date
in that Plan Year.

	 	 	 	The maximum number of Shares as determined above shall be adjusted upon the
occurrence of an event described in Section 10.3.
	 
	 	(b)	 	No option may be granted to a Participant if immediately after the option is
granted the Participant would be a Five-Percent Shareholder.
	 
	 	(c)	 	No Participant may assign, transfer or otherwise alienate any options granted
to him under this Plan, otherwise than by will or the laws of descent and distribution,
and such options may be exercised during the Participant’s lifetime only by him.

     6.7 Pro-Rata Reduction of Optioned Shares

     If the total number of Shares to be purchased under option by all Participants on an Exercise
Date exceeds the number of Shares remaining authorized for issuance under Section 6.1, a pro-rata
allocation of the Shares available for issuance will be made among the Participants in proportion
to their respective Contribution Account balances on the Exercise Date, and any money remaining in
the Contribution Accounts shall be returned to the Participants.

     6.8 State Securities Laws

     Notwithstanding anything to the contrary contained herein, the Company shall not be obligated
to issue Shares to any Participant if to do so would violate any State securities law applicable to
the sale of Shares to such Participant. In the event that the Company refrains from issuing Shares
to any Participant in reliance on this Section, the Company shall return to such Participant the
amount in such Participant’s Contribution Account that would otherwise have been applied to the
purchase of Shares.

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ARTICLE VII.

TERMINATION OF PARTICIPATION

     7.1 Termination of Employment

     Any Employee whose employment with the Employer is terminated during the Plan Year for any
reason except death, disability or retirement at or after age 55 shall cease being a Participant
immediately. The balance of that Participant’s Contribution Account shall be paid to such
Participant as soon as practical after his termination. The options granted to such Participant
shall be canceled as of the date of termination.

     7.2 Death

     If a Participant should die while employed by the Employer, no further contributions on behalf
of the deceased Participant shall be made. The legal representative of the deceased Participant may
elect to withdraw the balance in such Participant’s Contribution Account by notifying the Employer
in writing prior to the Exercise Date in the Plan Year during which the Participant died (except
during the period from September 15 through September 30). In the event that no election to
withdraw is made on or before the September 15 preceding the Exercise Date, the balance accumulated
in the deceased Participant’s Contribution Account shall be used to purchase Shares in accordance
with Section 6.4. Any money remaining which is insufficient to purchase a whole Share shall be paid
to the legal representative.

     7.3 Retirement

     If a Participant should retire from the employment of the Employer at or after attaining age
55, no further contributions on behalf of the retired Participant shall be made. The Participant
may elect to withdraw the balance in his Contribution Account by notifying the Employer in writing
prior to the Exercise Date in the Plan Year during which the Participant retired (except during the
period from September 15 through September 30). In the event that no election to withdraw is made
on or before the September 15 preceding the Exercise Date, the balance accumulated in the retired
Participant’s Contribution Account shall be used to purchase Shares in accordance with Section 6.4,
and any money remaining which is insufficient to purchase a whole Share shall be paid to the
retired Participant.

     7.4 Disability

     If a Participant should terminate employment with the Employer on account of disability, as
determined by reference to the definition of “disability” in the Employer’s long-term disability
plan, no further contributions on behalf of the disabled Participant shall be made. The Participant
may elect to withdraw the balance in his Contribution Account by notifying the Employer in writing
prior to the Exercise Date in the Plan Year during which the Participant became disabled (except
during the period from September 15 through September 30). In the event no election to withdraw is
made on or before the September 15 preceding the Exercise Date, the balance accumulated in the
disabled Participant’s Contribution Account shall be used to purchase Shares in accordance with
Section 6.4, and any money remaining which is insufficient to purchase a whole Share shall be paid
to the disabled Participant.

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ARTICLE VIII.

OWNERSHIP OF SHARES

     8.1 Share Ownership; Form

     The Shares purchased by a Participant on an Exercise Date shall, for all purposes, be deemed
to have been issued and/or sold at the close of business on such Exercise Date. Prior to that time,
none of the rights or privileges of a shareholder of Genesco shall inure to the Participant with
respect to such Shares. All the Shares purchased under the Plan shall be delivered by the Company
in the manner determined by the Plan Administrator.

     The Plan Administrator, in its sole discretion, may determine that the Shares shall be
delivered by (i) issuing and delivering to the Participant a certificate for the number of Shares
purchased by such Participant on an Exercise Date, (ii) issuing and delivering a certificate or
certificates for the number of Shares purchased by all Participants on an Exercise Date to a member
firm of the New York Stock Exchange which is also a member of the National Association of
Securities Dealers, as selected by the Plan Administrator from time to time, which Shares shall be
maintained by such member firm in separate brokerage accounts for each Participant or (iii) issuing
and delivering a certificate or certificates for the number of Shares purchased by all Participants
on an Exercise Date to a bank or trust company or affiliate thereof, as selected by the Plan
Administrator from time to time, which Shares shall be maintained by such Bank or trust company or
affiliate in separate accounts for each Participant. Each certificate or account, as the case may
be, may be in the name of the Participant or, if the Participant designates on the form prescribed
by the Plan Administrator, in the Participant’s name jointly with another individual, with the
right of survivorship. Such designation may be changed by filing notice thereof.

     8.2 Premature Sale of Shares

     If a Participant (or former Participant) sells or otherwise disposes of any Shares obtained
under this Plan prior to two years after the Grant Date of the option under which such shares were
obtained, that Participant (or former Participant) must notify the Employer immediately in writing
concerning such disposition.

     8.3 Transfer of Ownership

     A Participant who purchases Shares under this Plan shall be transferred at such time
substantially all of the rights of ownership of such Shares in accordance with the Treasury
Regulations promulgated under Section 423 of the Code as in effect on the effective date of this
restatement of the Plan. Such rights of ownership shall include the right to vote, the right to
receive declared dividends, the right to share in the assets of the Employer in the event of
liquidation, the right to inspect the Employer’s books and the right to pledge or sell such Shares
subject to the restrictions in the Plan.

9

 

ARTICLE IX.

ADMINISTRATION AND AMENDMENT

     9.1 Administration

     The Plan Administrator shall (i) administer the Plan and keep records of the Contribution
Account balance of each Participant, (ii) interpret the Plan, and (iii) determine all questions
arising as to eligibility to participate, amount of contributions permitted, determination of the
Exercise Price, and all other matters of administration. The Plan Administrator shall have such
duties, powers and discretionary authority as may be necessary to discharge the foregoing duties,
and may delegate any or all of the foregoing duties to any individual or individuals (including
officers of Genesco or other Employees who are Participants). The Board of Directors shall have the
right at any time and without notice to remove or replace any individual or committee of
individuals serving as Plan Administrator. All determinations by the Plan Administrator shall be
conclusive and binding on all persons. Any rules, regulations, or procedures that may be necessary
for the proper administration or functioning of this Plan that are not covered in this Plan
document shall be promulgated and adopted by the Plan Administrator.

     9.2 Amendment

     The board of directors of Genesco may at any time amend the Plan in any respect, including
termination of the Plan, without notice to Participants. If the Plan is terminated, all options
outstanding at the time of termination shall be immediately canceled and the balance in each
Participant’s Contribution Account shall be paid to that Participant. Notwithstanding the
foregoing, no amendment of the Plan as described in Article III shall become effective until and
unless such amendment is approved by the shareholders of Genesco.

ARTICLE X.

MISCELLANEOUS

     10.1 Expenses

     The Employer will pay all expenses of administering this Plan that may arise in connection
with the Plan.

     10.2 No Contract of Employment

     Nothing in this Plan shall be construed to constitute a contract of employment between an
Employer and any Employee or to be an inducement for the employment of any Employee. Nothing
contained in this Plan shall be deemed to give any Employee the right to be retained in the service
of an Employer or to interfere with the right of an Employer to discharge any Employee at any time,
with or without cause, regardless of the effect which such discharge may have upon him as a
Participant of the Plan.

10

 

     10.3 Adjustment Upon Changes in Shares

     The aggregate number of Shares reserved for purchase under the Plan as provided in Section
6.1, and the calculation of the Exercise Price as provided in Section 6.3, shall be adjusted by the
Plan Administrator (subject to direction by the Board of Directors) in an equitable manner to
reflect changes in the capitalization of Genesco, including, but not limited to, such changes as
result from merger, consolidation, reorganization, recapitalization, stock dividend, dividend in
property other than cash, stock split, combination of shares, exchange of shares and change in
corporate structure. If any adjustment under this Section 10.3 would create a fractional share or a
right to acquire a fractional share, such fractional share shall be disregarded and the number of
shares available under the Plan and the number of shares covered under any options granted pursuant
to the Plan shall be the next lower number of shares, rounding all fractions downward.

     10.4 Merger Agreement

     (a) The Plan shall termination upon the “Effective Time” as set forth in the Merger
Agreement

     (b) Notwithstanding Sections 2.13, 5.1 and paragraph 10.4(a), in the event the Merger
Agreement is terminated for any reason, a new “short” Plan Year and enrollment year shall
begin, and Participant contributions shall recommence, on the first day of the month
following the month in which the termination shall have occurred.

     10.5 Employer’s Rights

     The rights and powers of any Employer shall not be affected in any way by its participation in
this Plan, including but not limited to the right or power of any Employer to make adjustments,
reclassifications, reorganizations or changes of its capital or business structure or to merge or
to consolidate or to dissolve, liquidate or sell, or transfer all or any part of its business or
assets.

     10.6 Limit on Liability

     No liability whatever shall attach to or be incurred by any past, present or future
shareholders, officers or directors, as such, or Genesco or any Employer, under or by reason of any
of the terms, conditions or agreements contained in this Plan or implied therefrom, and any and all
liabilities of any and all rights and claims against Genesco, an Employer, or any shareholder,
officer or director as such, whether arising at common law or in equity or created by statute or
constitution or otherwise, pertaining to this Plan, are hereby expressly waived and released by
every Participant as a part of the consideration for any benefits under this Plan; provided,
however, no waiver shall occur, solely by reason of this Section 10.5, of any right which is not
susceptible to advance waiver under applicable law.

     10.7 Gender and Number

     For the purposes of the Plan, unless the contrary is clearly indicated, the use of the
masculine gender shall include the feminine, and the singular number shall include the plural and
vice versa.

11

 

     10.8 Governing Law

     The validity, construction, interpretation, administration and effect of this Plan, and any
rules or regulations promulgated hereunder, including all rights or privileges of any Participants
hereunder, shall be governed exclusively by and in accordance with the laws of the State of
Tennessee, except that the Plan shall be construed to the maximum extent possible to comply with
Section 423 of the Code and the Treasury regulations promulgated thereunder.

     10.9 Headings

     Any headings or subheadings in this Plan are inserted for convenience of reference only and
are to be ignored in the construction of any provisions hereof.

     10.10 Severability

     If any provision of this Plan is held by a court to be unenforceable or is deemed invalid for
any reason, then such provision shall be deemed inapplicable and omitted, but all other provisions
of this Plan shall be deemed valid and enforceable to the full extent possible under applicable
law.

12

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