Document:

Exhibit 10.10

 

As of September 8,
2005

 

 

Mr. Peter Dolphin

 

 

Dear Peter:

 

The
letter agreement between you and Monster Worldwide, Inc., formerly known
as TMP Worldwide Inc. (the “Company”), dated September 11, 2002 (the “Letter
Agreement”), is hereby amended as follows:

 

1.                                       Section 1
of the Letter Agreement is hereby amended to read in its entirety as follows:

 

“1.                                 CHANGE
IN CONTROL.  In the event of any Change
in Control (as defined in the Option Agreement between the Company and you
dated April 4, 2001):

 

(a)                                  options
to purchase Common Stock of the Company that have been or may be granted to you
from time to time pursuant to written stock option agreements between you and
the Company (including but not limited to the options covered by the stock
option agreements between the Company and you dated December 9, 1998, December 1,
1999, April 4, 2001, November 1, 2001 and September 11, 2002),
and

 

(b)                                 shares
of restricted stock that may be granted to you from time to time pursuant to
written stock bonus agreements between you and the Company,

 

in
each case which have not theretofore vested or become exercisable, shall
automatically and immediately become fully vested and exercisable (in the case
of options, for the balance of the ten year term provided by the applicable
stock option agreement), subject to the other terms of the applicable
agreements.”

 

2.                                       Section 2
of the Letter Agreement is hereby amended to read in its entirety as follows:

 

“2.                                 SECTION 280G.

 

(a)                                  Anything
in this agreement to the contrary notwithstanding, in the event it shall be
determined that any payment or distribution by the Company to or for the
benefit of

 

 

you (whether paid or
payable or distributed or distributable pursuant to the terms of this agreement
or otherwise, but determined without regard to any additional payments required
under this Section 2) (a “Company Payment”) would be subject to the excise
tax imposed by Section 4999 of the Internal Revenue Code of 1986, as
amended (the “Code”), or any interest or penalties are incurred by you with
respect to such excise tax (such excise tax, together with any such interest
and penalties, are hereinafter collectively referred to as the “Excise Tax”),
then you shall be entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that after payment by you of all taxes (including
any interest or penalties imposed with respect to such taxes), including,
without limitation, any income taxes (and any interest and penalties imposed
with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, you
retain an amount of the Gross-Up Payment equal to the Excise Tax imposed upon
the Company Payments.

 

(b)                                 For
purposes of determining whether any of the Company Payments and Gross-Up
Payments (collectively the “Total Payments”) will be subject to the Excise Tax
and the amount of such Excise Tax, (i) the Total Payments shall be treated
as “parachute payments” within the meaning of Section 280G(b)(2) of
the Code, and all “parachute payments” in excess of the “base amount” (as defined
under Code Section 280G(b)(3) of the Code) shall be treated as
subject to the Excise Tax, unless and except to the extent that, in the opinion
of the Company’s independent certified public accountants appointed prior to
any change in ownership (as defined under Code Section 280G(b)(2)) or tax
counsel selected by such accountants (the “Accountants”) such Total Payments
(in whole or in part) either do not constitute “parachute payments,” represent
reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of
the Code in excess of the “base amount” or are otherwise not subject to the
Excise Tax, and (ii) the value of any non-cash benefits or any deferred
payment or benefit shall be determined by the Accountants in accordance with
the principles of Section 280G of the Code.

 

(c)                                  For
purposes of determining the amount of the Gross-Up Payment, you shall be deemed
to pay U.S. federal income taxes at the highest marginal rate of U.S. federal
income taxation in the calendar year in which the Gross-Up Payment is to be
made and state and local income taxes at the highest marginal rate of taxation
in the state and locality of your residence for the calendar year in which the
Company Payment is to be made, net of the maximum reduction in U.S. federal
income taxes which could be obtained from deduction of such state and local
taxes if paid in such year.  In the event
that the Excise Tax is later determined by the Accountant or the Internal Revenue
Service to exceed the amount taken into account hereunder at the time the
Gross-Up Payment is made (including by reason of any payment the existence or
amount of which cannot be determined at the time of the Gross-Up Payment), the
Company shall make an additional Gross-Up Payment in respect of such excess
(plus any interest or penalties payable with respect to such excess) at the
time that the amount of such excess is finally determined.

 

(d)                                 The
Gross-Up Payment or portion thereof provided for in subsection (c) above
shall be paid not later than the thirtieth day following an event occurring
which subjects

 

 

you to the Excise Tax;
provided, however, that if the amount of such Gross-Up Payment or portion
thereof cannot be finally determined on or before such day, the Company shall
pay to you on such day an estimate, as determined in good faith by the
Accountant, of the minimum amount of such payments and shall pay the remainder
of such payments (together with interest at the rate provided in Section 1274(b)(2)(B) of
the Code), subject to further payments pursuant to subsection (c) hereof,
as soon as the amount thereof can reasonably be determined, but in no event
later than the ninetieth day after the occurrence of the event subjecting you
to the Excise Tax.

 

(e)                                  If
any controversy arises between you and the Internal Revenue Service or any
state or local taxing authority (a “Taxing Authority”) with respect to the
treatment on any return of the Gross-Up Payment, or of any Company Payment, or
with respect to any return which a Taxing Authority asserts should show an
Excise Tax, including, without limitation, any audit, protest to an appeals
authority of a Taxing Authority or litigation (“Controversy”), (i) the
Company shall have the right to participate with you in the handling of such
Controversy, (ii) the Company shall have the right, solely with respect to
a Controversy, to direct you to protest or contest any proposed adjustment or
deficiency, initiate an appeals procedure within any Taxing Authority, commence
any judicial proceeding, make any settlement agreement, or file a claim for
refund of tax, and (iii) you shall not take any of such steps without the
prior written approval of the Company, which the Company shall not unreasonably
withhold. If the Company so elects, you shall be represented in any Controversy
by attorneys, accountants, and other advisors selected by the Company, and the
Company shall pay the fees, costs and expenses of such attorneys, accountants,
or advisors, and any tax liability you may incur as a result of such payment.
You shall promptly notify the Company of any communication with a Taxing
Authority, and you shall promptly furnish to the Company copies of any written
correspondence, notices, or documents received from a Taxing Authority relating
to a Controversy. You shall cooperate fully with the Company in the handling of
any Controversy by furnishing the Company any information or documentation
relating to or bearing upon the Controversy; provided, however, that you shall
not be obligated to furnish to the Company copies of any portion of your tax
returns which do not bear upon, and are not affected by, the Controversy.

 

(f) You shall pay
over to the Company, with ten (10) days after receipt thereof, any refund
you receive from any Taxing Authority of all or any portion of the Gross-Up
Payment or Excise Tax, together with any interest you receive from such Taxing
Authority on such refund. For purposes of this Section 2, a reduction in
your tax liability attributable to the previous payment of the Gross-Up Payment
or the Excise Tax shall be deemed to be a refund. If you would have received a
refund of all or any portion of the Gross-Up Payment or the Excise Tax, except
that a Taxing Authority offset the amount of such refund against other tax
liabilities, interest, or penalties, you shall pay the amount of such offset
over to the Company, together with the amount of interest you would have
received from the Taxing Authority if such offset had been an actual refund,
within ten (10) days after receipt of notice from the Taxing Authority of
such offset.”

 

 

3.                                       The
Letter Agreement, as amended by this agreement, is hereby ratified and
confirmed and remains in full force and effect.

 

Please
sign below to indicate your agreement with the foregoing.

 

 

	
   

  	
  MONSTER
  WORLDWIDE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  Myron Olesnyckyj

  	
   

  
	
   

  	
  Name:  Myron Olesnyckyj

  
	
   

  	
  Title:  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Accepted
  and Agreed:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
      /s/
  Peter Dolphin

  	
   

  	
   

  	
   

  
	
  Peter
  DolphinExhibit 10.19

bebe stores, inc.

2006 MANAGEMENT BONUS PLAN

I.                   Eligibility

a.                 To be an “Eligible
Employee” under the bebe 2006 Management Bonus Plan an employee must:

1.                 retain a position
of management entitling the employee for bonus consideration;

2.                 achieve the employee’s
specified financial goals established by the relevant members of Company
management, and approved by the Compensation and Management Development
Committee;

3.                 achieve a
cumulative “meets expectations” rating at the employee’s year end review;

4.                 remain in good
standing as an employee with no “final warnings” issued during either 2006 fiscal
year 4th quarter and fiscal 2007 before fiscal 2006 bonus payments
are made; and

5.                 be employed (or
be moved within the Company from an ineligible position to an eligible
position) by no later than the April 1 of the 2006 fiscal year and be employed
through the date the fiscal year 2006 bonus payments are made. Bonus payment
shall be subject to pro-ration, for the time employed as an Eligible Employee.

II.              Target Bonus Percentage

a.                 Each Eligible Employee
shall be eligible to receive a bonus award based on a target percentage of
salary assigned to such Eligible Employee by the Compensation and Management
Development Committee or relevant members of Company management (“Target Bonus
Percentage”). The range of Target Bonus Percentages for Eligible Employees shall
be established by the Compensation and Management Development Committee. The
amount of an Eligible Employee’s individual Target Bonus Percentage shall be
determined by the Compensation and Management Development Committee or relevant
members of Company management based upon the Eligible Employee’s position and
responsibilities at the Company.

III.         Bonus Components

Within an Eligible
Employee’s Target Bonus Percentage, the potential bonus shall be divided,
allocated and payable, if appropriate, in the following components: 1) Company
performance, 2) individual performance, and/or 3) unit or division performance
(if applicable). The specific breakdown of allocation of each component shall
depend on the specific position held by the Eligible Employee and unit or
division (again, for the latter, if applicable) and shall be determined by the
Compensation and Management Development Committee or relevant members of Company
management. The Company performance component of the bonus shall be based upon
the Company’s earnings per share (“EPS”) for fiscal year 2006 and shall be
subject to a minimum and a maximum threshold, each as determined by the
Compensation and Management Development Committee.

IV.         Other

a.                 The Company’s Compensation
and Management Development Committee shall have the discretion to increase or decrease
compensation awards under this plan as it deems appropriate.

b.                The amount
determined payable shall be subject to all applicable income taxes and
withholdings.

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