Document:

Form of Supplement to Saks Incorporated Performance Share Agreement

 Exhibit 10.27 
 SAKS INCORPORATED 
 Supplement to Performance Share Agreement-Performance Share Award

 Name of Award Holder: «Name» 
 Effective Date of Award: «Issue Date» 
 Number of Performance Shares: «Number of Shares»

 Dear Award Holder: 
 I am pleased to inform you that Saks
Incorporated (the “Company”) has awarded to you the number of shares of its common stock, $0.10 par value, indicated above (the “Performance Shares”). The Performance Shares are awarded to you pursuant
to and subject to the terms and conditions of (1) the Company’s 2004 Long-Term Incentive Plan (the “Plan”), (2) the Performance Share Agreement between the Company and you (the
“Agreement”), and (3) this Supplement to Performance Share Agreement. This Supplement to Performance Share Agreement is an “Award Supplement” referred to in the Agreement. 
 The Performance Shares will vest in accordance with the terms of the Plan and this Supplement as follows, unless the Performance Shares vest earlier in accordance with
paragraph 3 of the Agreement: 
  

							
	 Objective
	  	Performance Goal:
2007 Adjusted EBITDA	  	% of Goal
Attained	 	Performance
Shares Awarded (% of Target)
	 Threshold (Min)
	  	$205	  	87.5%	 	50%
		  	$219	  	93.75%	 	75%
	 Target
	  	$234	  	100%	 	100%
		  	$248	  	106%	 	125%
	 Maximum
	  	$263	  	112.5%	 	150%

 The Human Resources and Compensation Committee of the Company’s Board of Directors in its sole discretion
will determine the Company’s adjusted EBITDA for the 2007 fiscal year for the purposes of this award. You will earn a prorated number of Performance Shares if the Company’s EBITDA for the 2007 fiscal year is greater than threshold
objective but less than the maximum objective. You will forfeit all Performance Shares if the Company’s adjusted EBITDA for its 2007 fiscal year is less than $205 million. If you earn any Performance Shares, they will vest in accordance with
the Plan if you have been continuously employed by the Company or one of its subsidiaries from the effective date of the award specified above through March 9, 2010. You will forfeit all earned Performance Shares if they do not vest
accordance with the preceding sentence. 
  

			
	Saks Incorporated
		
	By:	 	 

		 	Christine A. Morena
		 	Executive Vice President
		 	Human ResourcesForm of Saks Incorporated Restricted Stock Agreement

 Exhibit 10.28 
 Saks Incorporated 
 Restricted Stock Agreement 
 December 10, 2007 
 This is a Restricted Stock
Agreement between Saks Incorporated (the “Company”) and the individual who has executed this Restricted Stock Agreement above the signature line “Signature of Award Holder” (the “Award
Holder”). The term “this Agreement” means this Restricted Stock Agreement and each Award Supplement (defined in paragraph 1 of this Agreement) relating to this Agreement. 
 Preliminary Statement 
 This Agreement is made
pursuant to the Company’s 2004 Long-Term Incentive Plan (the “Plan”). Capitalized terms used but not defined in this Agreement are defined in the Plan as amended after the date of this Agreement. 
 Terms and Conditions 
 The Company and the Award
Holder agree as follows: 
 1. Restricted Stock Awards. This Agreement is the agreement referred to in section 8 of the Plan. For each of the
Company’s restricted stock awards to the Award Holder pursuant to the Plan, this Agreement, the Plan, and each Award Supplement to this Agreement, which need not be signed by the Award Holder, will govern. The restricted stock awarded by the
Company to the Award Holder pursuant to the Plan together are referred to as the “Restricted Stock.” The Company will evidence each award of Restricted Stock by a Supplement to Restricted Stock Agreement to be attached to
this Agreement from time to time (each an “Award Supplement” and together the “Award Supplements”). Award Supplements will indicate the number of shares of Restricted Stock awarded to the Award Holder
and the restrictions that are applicable to the Restricted Stock awarded. This Agreement governs all Restricted Stock awarded to the Award Holder prior to, on, or after the date of this Agreement, and all Award Supplements, whenever delivered to the
Award Holder, are incorporated into and form a part of this Agreement. 
 2. Restrictions; Forfeiture. 
 (a) Each award of Restricted Stock is subject to each of the following restrictions until the vesting conditions described on the Award Supplement applicable to the award
have been satisfied or the restrictions have otherwise expired or been terminated. Failure to satisfy the vesting conditions by the times specified on the Award Supplement will result in the forfeiture of the number of shares of unvested Restricted
Stock specified on the Award Supplement. Unvested Restricted Stock may not be sold, transferred, exchanged, assigned, pledged, hypothecated, or otherwise encumbered. If the Award Holder’s employment with the Company or any affiliate terminates
for any reason other than as provided in subparagraphs (b) or (c) of paragraph 3 of this Agreement, then the Award Holder will forfeit all of the Award Holder’s right, title, and interest in and to the then-unvested shares of
Restricted Stock as of the date of employment termination, and the unvested Restricted Stock will revert to the Company immediately following the event of forfeiture. 
 (b) The Award Holder will forfeit all Restricted Stock if (i) in the opinion of the Committee, the Award Holder, without the written consent of the Company, engages directly or indirectly in any manner or
capacity as principal, agent, partner, officer, director, employee, or otherwise, in any business or activity competitive with the business conducted by the Company or any of its subsidiaries, or (b) the Award Holder performs any act or engages
in any activity that in the opinion of the Chief Executive Officer of the Company is inimical to the best interests of the Company. The restrictions imposed by this paragraph will apply to all shares of the Company’s common stock and any other
securities issued with respect to Restricted Stock in connection with any merger, reorganization, consolidation, recapitalization, stock dividend, or other change in corporate structure affecting the common stock of the Company. 
 (c) If within six months following the Award Holder’s termination of employment the Award Holder, without the written consent of the Company, engages directly or
indirectly in any manner or capacity as principal, agent, partner, officer, director, employee, or otherwise in any business or activity determined by the Committee, in its sole discretion, to be competitive with any business or activity conducted
by the Company or any of its subsidiaries, the Award Holder will be required to pay to the Company an amount in cash equal to the value of Restricted Stock awards that vested on or after, or within six months prior to, the Award Holder’s
termination of employment, which value will be determined as of the date of vesting. 
 3. Expiration and Termination of Restrictions. The
restrictions imposed by paragraph 2 of this Agreement on each award of Restricted Stock will expire on the earliest to occur of the following (the period prior to the expiration of the award being the “Restricted Period”):

 (a) upon the passage of time or upon the achievement of performance objectives or upon both the passage or time and the achievement of performance
objectives, as provided in the Award Supplement for the award; 
 (b) on the date of termination of the Award Holder’s employment by reason of death,
disability, or retirement at age 65; or 
 (c) subject to section 18 of the Plan, upon the occurrence of a Change in Control and, if applicable, the
termination of the Award Holder’s employment or service within two years following the occurrence of the Change in Control. 
 4. Delivery of
Restricted Stock. All Restricted Stock will be registered in the name of the Award Holder as soon as practicable following the Award Dates specified in the Award Supplements, and all Restricted Stock will be held by the Company in accordance
with the Plan during the Restricted Period in certificated or uncertificated form. Certificates for the Restricted Stock for which the Restricted Period has ended will be delivered to the Award Holder or the Award Holder’s designee upon
request, but delivery may be postponed for a period of time to enable the Company, in exercising reasonable diligence, to comply with registration requirements under federal or state securities laws, stock exchange listing requirements and other
rules, and requirements under any other law or regulation applicable to the issuance or transfer of the Restricted Stock. 

 5. Voting and Dividend Rights. Subject to the next sentences, the Award Holder, as beneficial owner of the
Restricted Stock, has full voting and dividend rights with respect to the Restricted Stock during and after the Restricted Period. During the Restricted Period the Award Holder may not assign or pledge voting rights or dividend rights to during the
Restricted Period. During the Restricted Period the Company will withhold dividends paid by the Company with respect to the Restricted Stock and will not pay the dividends to the Award Holder, and the Award Holder will have no right to receive the
any dividends paid by the Company with respect to the Restricted Stock, until the Restricted Period ends and the Company has delivered the Restricted Stock to the Award Holder as provided in paragraph 4. If the Award Holder forfeits any Restricted
Stock in accordance with paragraph 2, the Award Holder’s rights as a beneficial owner of the Restricted Stock, and all of the Award Holder’s interest in them, will immediately terminate, and the Award Holder will not be entitled to payment
of past or future dividends or any other right or benefit with respect to the forfeited Restricted Stock. If for any reason the Award Holder receives dividends with respect to the forfeited Restricted Stock after forfeiture, the Award Holder will
repay to the Company an amount equal to the dividends received. 
 6. Anti-Dilution Provisions. Section 20 of the Plan is applicable to
this Agreement and the Restricted Stock. 
 7. No Right of Continued Employment. Nothing in this Agreement will interfere with or limit in any
way the right of the Company or any affiliate to terminate the Award Holder’s employment at any time, nor confer upon the Award Holder any right to continue in the employ of the Company or any affiliate. 
 8. Payment of Taxes. 
 (a) The Award Holder may make an
election to be taxed upon an award of Restricted Stock under Section 83(b) of the Internal Revenue Code of 1986, as amended, by making an appropriate election with the Internal Revenue Service within thirty days after the date of the award and
by otherwise complying with applicable requirements. 
 (b) At any time the law requires the Company to withhold federal, state, or local taxes of any kind
(including the Award Holder’s FICA obligation) on behalf of the Award Holder as a result of the award of the Restricted Stock, the Award Holder agrees to pay the required withholding amount to the Company no later than the date due, or to make
other arrangements satisfactory to the Company regarding payment of the withholding amount. The obligations of the Company under this Agreement will be conditional on the Award Holder’s compliance with these withholding payment requirements,
and the Company and its affiliates will, to the extent permitted by law, have the right to deduct the withholding amount from any payment of any kind otherwise due to the Award Holder. 
 9. Amendment. This Agreement may not be modified, amended, or waived in any manner except in writing signed by the Company and the Award Holder. The waiver by the Company or the Award Holder of
compliance with any provision of this Agreement will not operate or be construed as a waiver of any other provision of this Agreement, or any subsequent breach of a provision of this Agreement. 
 10. The Plan Controls. The terms contained in the Plan are incorporated into and made a part of this Agreement, and this Agreement will be governed by and
construed in accordance with the Plan. If any actual or alleged conflict between the provisions of the Plan and the provisions of this Agreement occurs, the provisions of the Plan will be controlling and determinative. 
 11. Successors. This Agreement will be binding upon any successor of the Company, in accordance with the terms of this Agreement and the Plan. 

12. Severability. If any one or more of the provisions contained in this Agreement are invalid, illegal or unenforceable, the other provisions of this
Agreement will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included. 
 13. Notice. Notices
and communications under this Agreement must be in writing and delivered personally, by overnight courier, or by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to:

 Human Resources Department 
 Saks Incorporated 
 12 East 49th Street, 4th Floor 
 New York, NY 10017 
 Attn: Sr. Stock Plan
Administrator 
 or any other address designated by the Company in a written notice to the Award Holder. Notices to the Award Holder will be directed to the
address of the Award Holder then currently on file with the Company, or at any other address given by the Award Holder in a written notice to the Company. 
 14. Administration. The authority to manage and control the operation and administration of this Agreement will be vested in the Committee. The Committee will have all powers with respect to this Agreement that it has with
respect to the Plan. Any interpretation of the Agreement by the Committee and any decision made by it with respect to the Agreement is final and binding on all persons. 
 15. Governing Law. Tennessee law will govern the interpretation, performance, and enforcement of this Agreement. 
  

			
	Saks Incorporated
		
	By:	 	

		 	Christine A. Morena
		 	 Executive Vice President - Human Resources

		 	 Saks Incorporated

		
		 	«Name»
		 	Name of Award Holder
		
		 	  

		 	Signature of Award Holder

  

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