Document:

Exhibit 10.1

 

GUESS ?, INC.

 

2006 NON-EMPLOYEE DIRECTORS’ 

STOCK GRANT AND STOCK OPTION PLAN

(As Amended and Restated Effective September 13, 2010)

 

1.                                      Establishment; Purpose of the Plan.

 

The
Company maintains the Guess?, Inc. 2006 Non-Employee Directors’ Stock
Grant and Stock Option Plan, which was approved by the Company’s stockholders
on May 9, 2006 and was subsequently amended on July 5 2006. (1)  The Company amended and restated the Plan
effective as of September 28, 2007 and subsequently amended the Plan
effective as of December 17, 2007.  
The Company hereby amends and restates the Plan effective as of September 13,
2010. Effective as of September 28, 2007, no additional Options will be
granted under the Plan unless otherwise provided by the Board.  The purpose of this Plan is to enable the
Company to attract and retain as non-employee directors individuals with
superior training, experience and ability and to provide additional incentive
to such Eligible Directors by giving them an opportunity to participate in the
ownership of the Company.

 

2.                                      Definitions.

 

For
purposes of the Plan, the following terms shall be defined as set forth below:

 

“Affiliate” and “Associate”
have the respective meanings ascribed to such terms in Rule 12b-2
promulgated under the Exchange Act.

 

“Award” means any
award of an Option or Restricted Stock, or any combination thereof, authorized
by and granted under this Plan.

 

“Award Agreement” means a
written document issued by the Company to a Participant setting forth the terms
and conditions of an Award that has been granted under the Plan.

 

“Beneficial Owner” has the meaning ascribed
to such term in Rule 13d-3 promulgated under the Exchange Act.

 

“Board” means the Board of Directors of the
Company.

 

“Code” means the Internal Revenue Code of
1986, as amended from time to time, and any successor thereto.

 

(1) 
The Company maintained the Guess?, Inc. 1996 Non-Employee Directors’ Stock
Grant and Stock Option Plan (As Amended and Restated Effective June 20,
2005), which was originally adopted as the Guess?, Inc. 1996 Non-Employee
Directors’ Stock Option Plan on July 30, 1996.  Effective May 9, 2006, the Company
amended and restated such plan in its entirety as the Guess?, Inc. 2006
Non-Employee Directors’ Stock Grant and Stock Option Plan.

 

 

“Combined Voting Power” means the combined
voting power of the Company’s then outstanding voting securities.

 

“Common Stock” means the Common Stock of
the Company, par value $.01 per share.

 

“Company” means Guess ?, Inc., a
Delaware corporation, including any wholly owned Subsidiary or affiliate, or
any successor organization.

 

“Eligible Director” means a person who is a
member of the Board and who is not an employee of the Company.

 

“Eligibility Date” means the first business
day of each of the Company’s fiscal years, commencing with the first fiscal
year that commences in 2007, while this Plan is in effect.

 

“Exchange Act” means the Securities
Exchange Act of 1934, as amended.

 

“Fair Market Value” means, on any given
date, the closing price of the shares of Common Stock, as reported on the New
York Stock Exchange for such date or, if Common Stock was not traded on such
date, on the next preceding day on which Common Stock was traded; provided that
if the Common Stock is not then traded on the New York Stock Exchange, Fair
Market Value means the fair market value thereof as of the relevant date of
determination as determined in accordance with a valuation methodology approved
by the Board.

 

“Option” means any option to purchase
shares of the Common Stock of the Company granted pursuant to this Plan.

 

“Parent” means any corporation which is a “parent
corporation” within the meaning of Section 424(e) of the Code with
respect to the Surviving Entity.

 

“Participant” means an Eligible Director
who has been granted an Award under this Plan.

 

“Person” means any person or “group” within
the meaning of Section 13(d)(3) or Section 14(d)(2) of the
Exchange Act.

 

“Plan” means the Guess ?, Inc. 2006
Non-Employee Directors’ Stock Grant and Stock Option Plan (formerly the
Guess?, Inc. 1996 Non-Employee Director’ Stock Grant and Stock Option
Plan), as hereinafter amended from time to time.

 

“Restricted Stock” means an Award of shares of Common Stock
granted pursuant to this Plan.  Except as
expressly provided herein or in the applicable Award Agreement, the term “Restricted
Stock” shall include any Award of restricted stock units granted pursuant to Section 5(g) of
this Plan.

 

“Rules” means the regulations promulgated
by the Securities and Exchange Commission under Section 16 of the Exchange
Act, as amended from time to time.

 

“Shareholder Approval Date” means May 9, 2006.

 

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“Subsidiary” means (i) any corporation
which is a “subsidiary corporation” within the meaning of
Section 424(f) of the Code with respect to the Company or
(ii) any other corporation or other entity in which the Company, directly
or indirectly, has an equity or similar interest and which the Board designates
as a subsidiary for purposes of the Plan.

 

“Surviving Entity” has the meaning ascribed
to it in Section 7(b) hereof.

 

Except
where otherwise indicated by the context, any masculine terminology used herein
shall also include the feminine and vice versa, and the definition of any term
herein in the singular shall also include the plural and vice versa.

 

3.                                      Shares Subject to the Plan.

 

Except
as provided in Section 7, the aggregate number of shares of Common Stock
that may be issued under the Plan is 2,000,000(2). Such shares may include authorized but
unissued shares of Common Stock, treasury shares or a combination of both. In
the event the number of shares of Common Stock issued under the Plan and the
number of shares of Common Stock subject to outstanding Awards equals the
maximum number of shares of Common Stock authorized under the Plan, no further
awards shall be made unless the Plan is amended (in accordance with the Rules,
if necessary) or additional shares of Common Stock become available for further
awards under the Plan. Shares of Common Stock that are subject to Options
granted under the Plan that terminate, expire or are canceled without having
been exercised, and any restricted shares of Common Stock subject to a
Restricted Stock Award that are forfeited, cancelled, or for any other reason
do not vest shall again be available for subsequent Awards under the Plan.

 

4.                                      Administration of the Plan.

 

(a)           Administration.  The Plan shall be administered by the Board.
Subject to the provisions of the Plan, and notwithstanding the intent that the
Award grants under the Plan be self-effectuating to the maximum extent
possible, the Board shall be authorized to:

 

(i)            adopt, revise and repeal such administrative rules,
guidelines and practices governing this Plan as it shall from time to time deem
advisable;

 

(ii)           interpret the terms and provisions of the Plan and any
Award issued under the Plan (and any agreements relating thereto), and
otherwise settle all claims and disputes arising under the Plan;

 

(2) 
The aggregate share limit of 2,000,000 shares of Common Stock consists of
(a) the 500,000 shares of Common Stock that were initially approved for
issuance under the Plan upon its original adoption by the Board on
July 30, 1996 plus (b) an additional 500,000 shares of Common Stock that
were approved for issuance under the Plan by the Board on April 7, 2006,
subject to approval by the Company’s shareholders at the 2006 Annual Meeting of
Shareholders plus (c) an additional 1,000,000 shares as were necessary to
reflect the Company’s two-for-one stock split effected in the form of a 100%
stock dividend as approved by the Board on February 12, 2007 and
distributed March 12, 2007.

 

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(iii)          delegate responsibility and authority for the operation and
administration of the Plan, appoint employees and officers of the Company to
act on its behalf, and employ persons to assist in the fulfilling of its
responsibilities under the Plan; and

 

(iv)          otherwise supervise the administration of the Plan;
provided, however, that the Board shall have no discretion with respect to the
selection of Eligible Directors to receive Awards hereunder, the number of
shares of Common Stock covered by such Award or the price or timing of any
Awards granted hereunder; provided further that any action by the Board
relating to the Plan will be taken only if approved by the affirmative vote of
a majority of the directors who are not then eligible to participate under the
Plan.

 

(b)           Delegation to a
Committee.  The Board may
delegate to a committee of the Board any or all of its authority for
administration of the Plan and, if such delegation occurs, all references to
the Board in this Plan shall be deemed references to the committee to the
extent provided in the resolution establishing the committee.

 

5.                                      Restricted Stock Grants.

 

(a)           Annual Award Grants.  On each Eligibility Date after September 28,
2007, each Eligible Director who has not been an employee of the Company at any
time during the immediately preceding 12 months shall be granted a Restricted
Stock Award for a number of restricted shares of Common Stock equal to $180,000
divided by the Fair Market Value of a share of Common Stock on the date of
grant.

 

(b)           Restricted Stock
Awards.  Stock certificates or
book entries evidencing shares of restricted stock subject to a Restricted
Stock Award pending the lapse of the restrictions shall bear a legend or
notation making appropriate reference to the restrictions imposed hereunder
and, if so provided by the Board, (if in certificate form) shall be held by the
Company or by a third party designated by the Board until the restrictions on
such shares shall have lapsed and the shares shall have vested in accordance
with the provisions of the Award and the provisions hereof. Restricted Stock
Awards will be evidenced by an Award Agreement containing such terms and
conditions which are not inconsistent with the terms of the Plan.

 

(c)           Vesting.  Each Restricted Stock Award granted under
this Section 5 shall become vested as to 100% of the total number of shares
of Common Stock subject thereto upon the first to occur of (i) the first
anniversary of the date of grant or (ii) a termination of service on the
Board if such Eligible Director has completed a full term of service and he or
she does not stand for re-election at the completion of such term. Promptly
after the vesting date and satisfaction of all applicable restrictions, the
Company shall, as applicable, either remove the notations on any shares issued
in book entry form that have met such conditions or deliver to the Participant
holding the Award (to the extent that the certificate(s) had not
previously been delivered) a certificate or certificates evidencing the number
of the shares of Common Stock as to which the restrictions have lapsed. Book
entries shall be made, or certificates shall be delivered, as applicable,
evidencing vested shares (and any other amounts deliverable in respect thereof
shall be delivered and paid) only to the Participant or his or her personal
representative, as the case may be.

 

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(d)           Transfer Restrictions.  Prior to the time that they have become
vested, neither the restricted shares comprising any Restricted Stock Award,
nor any interest therein, amount payable in respect thereof, or Restricted
Property (as defined in Section 5(e)), may be sold, assigned, transferred,
pledged or otherwise disposed of, alienated or encumbered, either voluntarily
or involuntarily. The transfer restrictions in the preceding sentence shall not
apply to (i) transfers to the Company, (ii) the designation of a
beneficiary to receive benefits in the event of the Eligible Director’s death,
or if the Eligible Director has died, transfers to the Eligible Director’s
beneficiary, or, in the absence of a validly designated beneficiary, transfers
by will or the laws of descent and distribution.

 

(e)           Voting; Dividends.  After the applicable date of grant of a
Restricted Stock Award, the Participant holding the Restricted Stock Award
shall have voting rights and dividend rights with respect to the shares of
Common Stock subject to the award. Any securities or other property receivable
in respect of the shares subject to the award as a result of any dividend or
other distribution (other than cash dividends), conversion or exchange of or
with respect to the shares (“Restricted Property”)
will be subject to the restrictions set forth in this Plan to the same extent
as the shares to which such securities or other property relate and shall be
held and accumulated for the benefit of the Participant, but subject to such
risks. The Participant’s voting and dividend rights shall terminate immediately
as to any shares that are forfeited back to the Company in accordance with
Section 5(f).

 

(f)            Effect of a
Termination of Service.  If a
Participant ceases to be a member of the Board for any reason any shares
subject to the Participant’s Restricted Stock Award that are not fully vested
and free from restriction as of the Participant’s termination of service shall
thereupon be forfeited and returned to the Company.

 

(g)           Awards to Certain
Non-U.S. Participants.  As to
any Award granted pursuant to Section 5(a) to a Participant who at
the time of grant is resident outside of the United States, the Board may, to
the extent it determines necessary or advisable in the circumstances, provide
that such Award shall be made in the form of restricted stock units that will
be payable upon vesting in an equal number of shares of Common Stock (in lieu
of delivering restricted shares of Common Stock at the time of grant of the
award).  The Participant shall have no
voting or other rights as a stockholder of the Company with respect to such
restricted stock units until such time as shares of Common Stock are actually
issued to and held of record by the Participant; provided, however, that the
Board may provide in the Award Agreement for the Participant to hold dividend
equivalent rights in respect of any outstanding and unpaid restricted stock
units.

 

6.                                      Amendment and Termination.

 

The
Board may amend, alter, suspend or terminate the Plan in whole or in part at
any time and from time to time; provided, however, that any amendment,
alteration, suspension or termination which, under the requirements of
applicable federal or state law or regulation or the rules of any stock
exchange or automated quotation system on which the Common Stock may then be
listed or quoted must be approved by the shareholders of the Company, shall not
be effective unless and until such shareholder approval has been obtained in
compliance with such law. The Board may amend the terms of any Award
theretofore granted, prospectively or retroactively, but no such amendment
shall impair the rights of any Participant without the 

 

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Participant’s
consent. Notwithstanding any provision herein to the contrary, the Board shall
have broad authority to amend the Plan or any Award to take into account
changes in applicable tax laws, securities laws, accounting rules and
other applicable state and federal laws.

 

7.                                      Changes in Capital Structure.

 

(a)           In the event of any change in the outstanding Common Stock
by reason of a stock dividend, recapitalization, reorganization, merger,
consolidation, stock split, combination or exchange of shares, (i) such
proportionate adjustments as may be necessary (in the form determined by the
Board in its sole discretion) to reflect such change shall be made to prevent
dilution or enlargement of the rights of Participants under the Plan with
respect to the aggregate number of shares of Common Stock for which awards in
respect thereof may be granted under the Plan, the number of shares of Common
Stock covered by each outstanding Award, and the exercise price of each
outstanding Option and (ii) the Board may make such other adjustments,
consistent with the foregoing, as it deems appropriate in its sole discretion.

 

(b)           In the event of a change in control of the Company,
(i) all outstanding Options granted hereunder shall become fully
exercisable as of the date of the Change in Control, whether or not then
exercisable, and shares subject to Restricted Stock Awards then outstanding
under the Plan shall vest 100% free of restrictions as of the date of the
Change in Control, and  (ii) in the case of a change in control involving
a merger of, and consolidation involving, the Company in which the Company is
(A) not the surviving corporation (the “Surviving
Entity”) or (B) becomes a wholly owned subsidiary of the
Surviving Entity or any Parent thereof, each outstanding Option granted
hereunder and not exercised (a “Predecessor
Option”) shall be converted into an option (a “Substitute Option”) to acquire common
stock of the Surviving Entity or its Parent, which Substitute Option shall have
substantially the same terms and conditions as the Predecessor Option, with
appropriate adjustments as to the number and kind of shares and exercise
prices.

 

With
respect to Awards granted on and after September 28, 2007, a “Change in Control” shall be deemed to have occurred when
(A) any Person (other than (x) the Company, any Subsidiary of the
Company, any employee benefit plan of the Company or of any Subsidiary of the
Company, or any person or entity organized, appointed or established by the
Company or any Subsidiary of the Company for or pursuant to the terms of any
such plan or (y) Maurice Marciano or Paul Marciano, the members of their
families, their respective estates, spouses, heirs and any trust of which any
one or more of the foregoing are the trustors, the trustees and/or the beneficiaries,
or any other entity controlled by one or more of them (collectively such
persons, estates, trusts, and entities referred to in this clause (y), the “Permitted Holders”)), alone or together with its Affiliates
and Associates (collectively, an “Acquiring
Person”), shall become the Beneficial Owner of both (i) thirty-five
percent (35%) or more of the then outstanding shares of Common Stock or the
Combined Voting Power of the Company (except pursuant to an offer for all
outstanding shares of Common Stock at a price and upon such terms and
conditions as a majority of the Continuing Directors determine to be in the
best interests of the Company and its shareholders (other than an Acquiring
Person on whose behalf the offer is being made)) and (ii) more shares of
Common Stock or more Combined Voting Power of the Company than are at such time
Beneficially Owned by the Permitted Holders, (B) during any period of two
consecutive years, individuals who at the beginning of such period constitute
the Board, and any 

 

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new
director (other than a director who is a representative or nominee of an
Acquiring Person) whose election by the Board or nomination for election by the
Company’s shareholders was approved by a vote of at least a majority of the
directors then still in office who either were directors at the beginning of
the period or whose election or nomination for election was previously so
approved (collectively, the “Continuing
Directors”), cease for any reason to constitute a majority of the
Board, (C) the shareholders of the Company approve a merger or
consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the Surviving
Entity or any Parent of such Surviving Entity) at least 80% of the Combined
Voting Power of the Company, such Surviving Entity or the Parent of such
Surviving Entity outstanding immediately after such merger or consolidation, or
(D) the shareholders of the Company approve a plan of reorganization
(other than a reorganization under the United States Bankruptcy Code) or
complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets; provided, however,
that a change in control shall not be deemed to have occurred in the event of
(x) a sale or conveyance in which the Company continues as a holding
company of an entity or entities that conduct all or substantially all of the
business or businesses formerly conducted by the Company or (y) any
transaction undertaken for the purpose of incorporating the Company under the
laws of another jurisdiction, if such transaction does not materially affect
the beneficial ownership of the Company’s capital stock.

 

With
respect to Awards granted prior to September 28, 2007, a “Change in Control” shall be deemed to have occurred when
(A) any Person (other than (x) the Company, any Subsidiary of the
Company, any employee benefit plan of the Company or of any Subsidiary of the
Company, or any person or entity organized, appointed or established by the Company
or any Subsidiary of the Company for or pursuant to the terms of any such plan
or (y) Maurice Marciano or Paul Marciano, or any trust established in
whole or in part for the benefit of one or both of them or their family
members, or any other entity controlled by one or more of them), alone or
together with its Affiliates and Associates (collectively, an “Acquiring Person”), shall become the
Beneficial Owner of twenty percent (20%) or more of the then outstanding shares
of Common Stock or the Combined Voting Power of the Company (except pursuant to
an offer for all outstanding shares of Common Stock at a price and upon such
terms and conditions as a majority of the Continuing Directors determine to be
in the best interests of the Company and its shareholders (other than an
Acquiring Person on whose behalf the offer is being made)), (B) during any
period of two consecutive years, individuals who at the beginning of such
period constitute the Board, and any new director (other than a director who is
a representative or nominee of an Acquiring Person) whose election by the Board
or nomination for election by the Company’s shareholders was approved by a vote
of at least a majority of the directors then still in office who either were
directors at the beginning of the period or whose election or nomination for
election was previously so approved (collectively, the “Continuing Directors”), cease for any
reason to constitute a majority of the Board, (C) the shareholders of the
Company approve a merger or consolidation of the Company with any other
corporation, other than a merger or consolidation which would result in the
voting securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted
into voting securities of the Surviving Entity or any Parent of such Surviving
Entity) at least 80% of the Combined Voting Power of the Company, such
Surviving Entity or the Parent 

 

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of
such Surviving Entity outstanding immediately after such merger or
consolidation, or (D) the shareholders of the Company approve a plan of
reorganization (other than a reorganization under the United States Bankruptcy
Code) or complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all of the Company’s assets;
provided, however, that a change in control
shall not be deemed to have occurred in the event of (x) a sale or
conveyance in which the Company continues as a holding company of an entity or
entities that conduct all or substantially all of the business or businesses
formerly conducted by the Company or (y) any transaction undertaken for
the purpose of incorporating the Company under the laws of another
jurisdiction, if such transaction does not materially affect the beneficial
ownership of the Company’s capital stock.

 

8.                                      Unfunded Status of the Plan.

 

The
Plan is unfunded. Nothing contained herein shall give any such Participant any
rights that are greater than those of a general creditor of the Company. In its
sole discretion, the Board may authorize the creation of trusts or other
arrangements to meet the obligations created under the Plan to deliver Common
Stock or payments in lieu thereof with respect to awards hereunder.

 

9.                                      Effective Date and Term of the Plan.

 

The
Plan was originally approved by the Company’s Board July 30, 1996, was
amended and restated effective on May 9, 2006 and subsequently amended on July 5,
2006, and was amended and restated effective September 28, 2007 and
subsequently amended on December 17, 2007. 
Awards granted under this Plan prior to September 13, 2010 shall be
governed by the provisions of the version of this Plan in effect on the date of
grant of the Award.  Awards granted under
this Plan on or after September 13, 2010 shall be subject to the terms and
conditions set forth herein and any applicable amendment hereof.

 

The
Plan shall continue in effect until the earlier of (a) ten years from the
Shareholder Approval Date or (b) the termination of the Plan by action of
the Board. No Awards shall be granted pursuant to the Plan on or after such
termination date, but Awards granted prior to such date may extend beyond that
date. The Board shall have the right to suspend or terminate the Plan at any
time except with respect to any Awards then outstanding.

 

10.                               General Provisions.

 

(a)           Representations by
Participants.  The Board may
require each Participant to represent to and agree with the Company in writing
that the Participant is acquiring the shares of Common Stock without a view to
distribution or other disposition thereof. Such shares may include any legend
or notation, as applicable, that the Company deems appropriate to reflect any
restrictions on transfer.

 

(b)           Continuance of Service
Required.  The vesting
schedule applicable to an Award requires continued service through each
applicable vesting date as a condition to the vesting of the Award and the
rights and benefits under this Plan. Service for only a portion of a vesting
period, even if substantial, will not entitle the award recipient to any
proportionate vesting or avoid or mitigate a termination of rights and benefits
upon or following a termination of services as provided in Section 5(f).
Nothing contained in this Plan constitutes a service commitment by 

 

8

 

the Company, confers upon any Award recipient any
right to remain in service to the Company, interferes in any way with the right
of the Company at any time to terminate such service, or affects the right of
the Company or any affiliate to increase or decrease the recipient’s other
compensation.

 

(c)           No Restrictions on
Adoption of Other Compensation Arrangements.  Nothing contained in this Plan shall prevent
the Board from adopting other or additional compensation arrangements (subject
to shareholder approval, if such approval is required) and such arrangements
may be either generally applicable or applicable only in specific cases.

 

(d)           No Right to
Re-Election.  The adoption of
the Plan shall not interfere in any way with the right of the Company to
terminate its relationship with any of its directors at any time.

 

(e)           No Stockholder Rights.  Except as otherwise expressly authorized by
the Board or this Plan: (a) a Participant shall not be entitled to any
privilege of stock ownership as to any shares of Common Stock not actually
delivered to and held of record by the Participant, and (b) no adjustment
will be made for dividends or other rights as a stockholder for which a record
date is prior to such date of delivery.

 

(f)            Tax Withholding.  No later than the date as of which an amount
first becomes includable in the gross income of the Participant for applicable
income tax purposes with respect to any Award under the Plan, the Participant
shall pay to the Company or make arrangements satisfactory to the Board
regarding the payment of any applicable taxes of any kind required by law to be
withheld with respect to such amount. Unless otherwise determined by the Board,
in accordance with rules and procedures established by the Board, the
minimum required withholding obligations may be settled with Common Stock,
including Common Stock that is part of the Award that gives rise to the
withholding requirement or Common Stock that is payable in connection with such
Award. The obligation of the Company under the Plan shall be conditional upon
such payment or arrangements and the Company shall, to the extent permitted by
law, have the right to deduct any such taxes from any payment of any kind
otherwise due to the Participant.

 

(g)           Applicable Law.  The Plan shall be governed by and subject to
the laws of the State of Delaware and to all applicable laws and to the
approvals by any governmental or regulatory agency as may be required.

 

(h)           Severability.  If any provision of this Plan shall be held
illegal or invalid for any reason, such illegality or invalidity shall not
affect the remaining provisions of this Plan, but this Plan shall be construed
and enforced as if such illegal or invalid provision had never been included
herein.

 

(i)            Compliance with
Rule 16b-3.  The Plan is
intended to comply with Rule 16b-3 under the Exchange Act or its
successors under the Exchange Act and the Board shall interpret and administer
the provisions of the Plan or any Award Agreement in a manner consistent
therewith. To the extent any provision of the Plan or Award Agreement or any
action by the Board fails to so comply, it shall be deemed null and void, to
the extent permitted by law and deemed advisable by the Board. Moreover, in the
event the Plan or an Award Agreement does 

 

9

 

not include a provision required by
Rule 16(b)(3) to be stated therein, such provision (other than one
relating to eligibility requirements, or the price and amount of Awards) shall
be deemed automatically to be incorporated by reference into the Plan or such
Award Agreement.

 

(j)            Expenses.  All expenses and costs in connection with the
administration of the Plan or the issuance of Options hereunder shall be borne
by the Company.

 

(k)           Headings.  The headings of sections herein are included
for convenience of reference and shall not affect the meaning of any of the
provisions of the Plan.

 

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RESTRICTED STOCK AWARD
AGREEMENT

UNDER THE GUESS?, INC.

2006 NON-EMPLOYEE DIRECTORS’
STOCK GRANT AND STOCK OPTION PLAN

 

This
RESTRICTED STOCK AWARD AGREEMENT, dated as of the «GRANT_DATE» (the “Award Agreement”),
is entered into by and between Guess?, Inc., a Delaware corporation (the “Company”),
and «NAME_OF_RECORD»
(the “Grantee”).

 

WHEREAS,
the Grantee is currently a non-employee director (“Eligible Director”) of the
Company and pursuant to the Guess?, Inc. 2006 Non-Employee Directors’
Stock Grant and Stock Option Plan (the “Plan”), and upon the terms and
conditions set forth in the Plan and this Award Agreement, the Company grants
to the Grantee a restricted stock award (the “Award”). Capitalized terms
used herein without definition shall have the meanings assigned to them in the
Plan.

 

NOW,
THEREFORE, in consideration of services rendered and to be rendered by the
Grantee, and the mutual promises made herein and the mutual benefits to be
derived therefrom, the parties hereto agree as follows:

 

1.               Grant.  Subject to the terms of the Plan and this
Award Agreement, the Company hereby grants to the Grantee, effective as of «GRANT_DATE» (the “Date of Grant”),
an Award with respect to an aggregate of «SHARES»
restricted shares of the Common Stock, par value $0.01 per share (the “Restricted
Stock”).

 

2.               Vesting.  Subject to 7 below or Section 7 of the
Plan, the Award shall become vested as to 100% of the shares of Restricted
Stock subject to the Award upon the first to occur of (a) the first
anniversary of the Date of Grant or (b) a termination of service on the
Board if the Grantee has completed one full term of service and he or she does
not stand for re-election at the completion of such term, provided that Grantee
has been continuously engaged as an Eligible Director from the Date of Grant
through the applicable vesting date.

 

3.               Continuance of
Service Required.  The vesting
schedule requires continued service through the applicable vesting date as a
condition to the vesting of the rights and benefits under this Agreement.  Partial service, even if substantial, during
the vesting period will not entitle the Grantee to any proportionate vesting or
avoid or mitigate a termination of rights and benefits upon or following a termination
of service as provided in Section 7 below or under the Plan, except as
otherwise expressly provided in the Plan.

 

4.               Restrictions on
Transfer.    Prior to
the time that they have become vested pursuant to Section 2 hereof of Section 7(b) of
the Plan, neither the Restricted Stock, nor any interest therein, amount
payable in respect thereof, or Restricted Property (as defined in Section 5
hereof) may be sold, assigned, transferred, pledged or otherwise disposed of,
alienated or encumbered, either voluntarily or involuntarily.  The transfer restrictions in the preceding
sentence shall not apply to (a) transfers to the Company or (b) transfers
by will or the laws of descent and distribution.

 

 

5.               Voting;
Dividends.  After the
Date of Grant, the Grantee shall have voting rights and dividend rights with
respect to the Restricted Stock subject to the Award.  Any securities or other property receivable
in respect of the Restricted Stock as a result of any dividend or other
distribution (other than cash dividends), conversion or exchange of or with
respect to the shares (“Restricted Property”) will be subject to the
restrictions set forth in this Award Agreement and the Plan to the same extent
as the shares to which such securities or other property relate and shall be
held and accumulated for the benefit of the Grantee, but subject to such
risks.  The Grantee’s voting and dividend
rights shall terminate immediately as to any shares that are forfeited back to
the Company in accordance with Section 7.

 

6.               Stock
Certificates.

 

(a)          Book Entry Form.  The Company shall, in its discretion, issue
the shares of Restricted Stock subject to the Award either (i) in
certificate form as provided in Section 6(b) below or (ii) in
book entry form, registered in the name of the Grantee with notations regarding
the applicable restrictions on transfer imposed under this Award Agreement.

 

(b)         Certificates to be Held by
Company; Legend.  Any
certificates representing shares of Restricted Stock that may be delivered to
the Grantee by the Company prior to vesting shall be immediately redelivered by
the Grantee to the Company to be held by the Company until the restrictions on
such shares shall have lapsed and the shares shall thereby have become vested
or the shares represented thereby have been forfeited hereunder.  Such certificates shall bear the following
legend and any other legends the Company may determine to be necessary or
advisable to comply with all applicable laws, rules, and regulations:

 

“The ownership of this
certificate and the shares of stock evidenced hereby and any interest therein
are subject to

 substantial restrictions on transfer under an
Award Agreement entered into between the registered owner and

 Guess?, Inc. A copy of such Award
Agreement is on file in the office of the Secretary of Guess?, Inc.”

 

(c)          Delivery of Shares Upon
Vesting.  Promptly after the vesting of
any shares of Restricted Stock pursuant to Section 2 hereof or Section 7(b) of
the Plan, the Company shall, as applicable, either remove the notations on any
shares of Restricted Stock issued in book entry form that have vested or
deliver to the Grantee a certificate or certificates evidencing the number of
shares of Restricted Stock that have vested. 
The Grantee (or the beneficiary or personal representative of the
Grantee in the event of the Grantee’s death or disability, as the case may be)
shall deliver to the Company any representations or other documents or
assurances as the Company may deem necessary or reasonably desirable to ensure
compliance with all applicable legal and regulatory requirements.  The shares so delivered shall no longer be
restricted shares hereunder.

 

(d)         Stock Power; Power of
Attorney.  Concurrent
with the execution and delivery of this Award Agreement, the Grantee shall
deliver to the Company an executed stock power in the form attached hereto as Exhibit A,
in blank, with respect to the Restricted Stock. 
The Grantee, by acceptance of the Award, shall be deemed to appoint, and
does so appoint by execution of this Award Agreement, the Company and each of
its 

 

 

authorized representatives as the Grantee’s attorney(s) in fact to
effect any transfer of unvested forfeited shares (or shares otherwise
reacquired by the Company hereunder) to the Company as may be required pursuant
to the Plan or this Award Agreement and to execute such documents as the
Company or such representatives deem necessary or advisable in connection with
any such transfer.

 

7.               Effect of a
Termination of Service.  If
Grantee ceases to be a member of the Board for any reason any shares of Restricted
Stock subject to the Award that are not fully vested and free from restriction
as of the Grantee’s termination of service shall thereupon be forfeited and
returned to the Company.

 

8.               Notices.  Any notice required or permitted under this
Agreement shall be deemed given when personally delivered, or when deposited in
a United States Post Office, postage prepaid, addressed, as appropriate, to the
Grantee either at the address in the records of the Company or such other
address as may be designated by Grantee in writing to the Company; or to the
Company, Attention: Secretary, 1444 South Alameda Street, Los Angeles,
California  90021, or such other address
as the Company may designate in writing to the Grantee.

 

9.               Failure to
Enforce Not a Waiver.  The failure
of the Company or the Grantee to enforce at any time any provision of this
Agreement shall in no way be construed to be a waiver of such provision or of
any other provision hereof.

 

10.         Governing Law.  This Agreement shall be governed by and
construed according to the laws of the State of Delaware.

 

11.         Amendments.  This Agreement may be amended or modified at
any time by an instrument in writing signed by both parties, subject to Section 6
of the Plan.

 

12.         No Right to
Re-Election.  Neither the
grant of the Award nor the execution of this Award Agreement shall interfere in
any way with the right of the Company to terminate its relationship with the
Grantee at any time.

 

13.         No Restriction
on Right of Company to Effect Corporate Changes.  Neither the grant of the Award, the Plan nor
this Award Agreement shall affect or restrict in any way the right or power of
the Company or its shareholders to make or authorize any adjustment,
recapitalization, reorganization or other change in the capital structure or business
of the Company, or any merger or consolidation of the Company, or any issue of
stock or of options, warrants or rights to purchase stock or of bonds,
debentures, preferred or prior preference stocks whose rights are superior to
or affect the Common Stock or the rights thereof or which are convertible into
or exchangeable for Common Stock, or the dissolution or liquidation of the
Company, or any sale or transfer of all or any part of the assets or business
of the Company, or any other corporate act or proceeding, whether of a similar
character or otherwise.

 

14.         Entire
Agreement.  This Award
Agreement and the Plan set forth the entire agreement and understanding between
the parties hereto with respect to the matters covered herein, and supersede
any prior agreements and understandings concerning such matters.  This Award Agreement may be executed in one
or more counterparts, each of which shall be deemed to be an original, but all
such counterparts shall together constitute one and the same agreement.  The headings of sections and subsections
herein are included solely for convenience of reference and shall not affect
the meaning of any of the provisions of this Award Agreement.  

 

 

This
Award Agreement shall be assumed by, be binding upon and insure to the benefit
of any successor or successors to the Company.

 

15.         Plan.  The Award and all rights of the Grantee under
this Award Agreement are subject to the terms and conditions of the Plan,
incorporated herein by this reference. 
The Grantee agrees to be bound by the terms of the Plan and this Award
Agreement. The Grantee acknowledges having read and understanding the Plan and
this Award Agreement.  Unless otherwise
expressly provided in other sections of this Award Agreement, provisions of the
Plan that confer discretionary authority on the Board do not and shall not be
deemed to create any rights in the Grantee unless such rights are expressly set
forth herein or are otherwise in the sole discretion of the Board so conferred
by appropriate action of the Board under the Plan after the date hereof.

 

16.         Section 83(b) Election.  The Grantee hereby acknowledges that, with
respect to the grant of the Restricted Stock, an election may be filed by the
Grantee with the Internal Revenue Service, within 30 days, of the Date
of Grant, electing pursuant to Section 83(b) of the Internal Revenue
Code of 1986, as amended (the “Code”), to be taxed currently on the fair
market value of the Restricted Stock on the Date of Grant.

 

THE
GRANTEE HEREBY ACKNOWLEDGES THAT IT IS THE GRANTEE’S SOLE RESPONSIBILITY AND
NOT THE RESPONSIBILITY OF THE COMPANY TO TIMELY FILE AN ELECTION UNDER SECTION 83(b) OF
THE CODE, EVEN IF THE GRANTEE REQUESTS THE COMPANY OR ITS REPRESENTATIVE TO
MAKE THIS FILING ON THE GRANTEE’S BEHALF.

 

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed on its behalf by a duly authorized officer and
the Grantee has hereunto set his or her hand as of the date and year first
above written.

 

	
   

  	
  GUESS?, INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Print
  Name:

  	
  Deborah
  Siegel

  
	
   

  	
   

  
	
   

  	
  Its:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  GRANTEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Print Name

  
				

 

 

EXHIBIT A

 

STOCK POWER

 

FOR
VALUE RECEIVED and pursuant to that certain Restricted Stock Award Agreement
between Guess?, Inc., a Delaware corporation (the “Company”), and the
individual named below (the “Individual”), dated as of
                                      ,
the Individual hereby sells, assigns and transfers to the Company an aggregate
of
                
shares of Common Stock of the Company, standing in the Individual’s name
on the books of the Company and, if such shares are in certificate form, represented
by stock certificate number(s)                                                                               
to which this instrument is attached, and hereby irrevocably constitutes and
appoints
                              
                                                                
as his or her attorney in fact and agent to transfer such shares on the books
of the Company, with full power of substitution in the premises.

 

	
  Dated
                            ,              

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
  Print Name

  

 

(Instruction: Please do not fill in any blanks other than
the signature line.  The purpose of the
assignment is to enable the Company to exercise its sale/purchase option set
forth in the Restricted Stock Award Agreement without requiring additional
signatures on the part of the Individual.)

 

 

RESTRICTED STOCK UNIT AWARD
AGREEMENT

UNDER THE GUESS?, INC.

2006 NON-EMPLOYEE DIRECTORS’ STOCK GRANT AND STOCK OPTION PLAN

 

This
RESTRICTED STOCK UNIT AWARD AGREEMENT, dated as of the «GRANT_DATE» (the “Award
Agreement”), is entered into by and between Guess?, Inc., a Delaware
corporation (the “Company”), and «NAME_OF_RECORD» (the “Grantee”).

 

WHEREAS,
the Grantee is currently a non-employee director (“Eligible Director”) of the
Company and pursuant to the Guess?, Inc. 2006 Non-Employee Directors’
Stock Grant and Stock Option Plan (the “Plan”), and upon the terms and
conditions set forth in the Plan and this Award Agreement, the Company grants
to the Grantee a restricted stock unit award (the “Award”). Capitalized
terms used herein without definition shall have the meanings assigned to them
in the Plan.

 

NOW,
THEREFORE, in consideration of services rendered and to be rendered by the
Grantee, and the mutual promises made herein and the mutual benefits to be
derived therefrom, the parties hereto agree as follows:

 

1.               Grant.  Subject to the terms of the Plan and this
Award Agreement, the Company hereby grants to the Grantee, effective as of «GRANT_DATE» (the “Date of Grant”),
an Award with respect to an aggregate of «SHARES»
stock units (subject to adjustment as provided in Section 7 of the Plan)
(the “Stock Units”).  As used herein, the term “stock unit” shall
mean a non-voting unit of measurement which is deemed for bookkeeping purposes
to be equivalent to one outstanding share of the Company’s Common Stock solely
for purposes of the Plan and this Award Agreement.  The Stock Units shall be used solely as a
device for the determination of the payment to eventually be made to the
Grantee if such Stock Units vest pursuant to Section 2.  The Stock Units shall not be treated as
property or as a trust fund of any kind.

 

2.               Vesting.  Subject to Section 7 below or Section 7
of the Plan, the Award shall become vested as to 100% of the Stock Units
subject to the Award upon the first to occur of (a) the first anniversary
of the Date of Grant or (b) a termination of service on the Board if the
Grantee has completed one full term of service and he or she does not stand for
re-election at the completion of such term, provided that Grantee has been
continuously engaged as an Eligible Director from the Date of Grant through the
applicable vesting date.

 

3.               Continuance of
Service Required.  The vesting
schedule requires continued service through the applicable vesting date as a
condition to the vesting of the rights and benefits under this Agreement.  Partial service, even if substantial, during
the vesting period will not entitle the Grantee to any proportionate vesting or
avoid or mitigate a termination of rights and benefits upon or following a
termination of service as provided in Section 7 below or under the Plan,
except as otherwise expressly provided in the Plan.

 

4.               Restrictions on
Transfer.    Prior to
the time that they have become vested pursuant to Section 2 hereof of Section 7(b) of
the Plan, neither the Stock Units, nor any interest therein or 

 

 

amount
or shares payable in respect thereof, may be sold, assigned, transferred,
pledged or otherwise disposed of, alienated or encumbered, either voluntarily
or involuntarily.  The transfer
restrictions in the preceding sentence shall not apply to (a) transfers to
the Company or (b) transfers by will or the laws of descent and
distribution.

 

5.               Voting;
Dividends.

 

(a)          Limitations on Rights
Associated with Units.  The
Grantee shall have no rights as a stockholder of the Company, no dividend
rights (except as expressly provided in Section 5(b) with respect to
Dividend Equivalent Rights) and no voting rights, with respect to the Stock
Units and any shares of Common Stock underlying or issuable in respect of such
Stock Units until such shares of Common Stock are actually issued to and held
of record by the Grantee.  No adjustments
will be made for dividends or other rights of a holder for which the record
date is prior to the date of issuance of such shares.

 

(b)         Dividend Equivalent Rights
Distributions.  As of any
date that the Company pays a cash dividend on its Common Stock, the Company
shall credit the Grantee with an amount equal to (i) the per-share cash
dividend paid by the Company on its Common Stock on such date, multiplied by (ii) the
total number of Stock Units (with such total number adjusted pursuant to Section 7
of the Plan) subject to the Award as of the related dividend payment record
date.  Any amount credited pursuant to
the foregoing provisions of this Section 5(b) shall be payable to the
Grantee in cash, subject to the same vesting, timing of payment and other
terms, conditions and restrictions as the original Stock Units to which such
amount relates.  No crediting of dividend
equivalents shall be made pursuant to this Section 5(b) with respect
to any Stock Units which, as of such record date, have either been paid
pursuant to Section 6 or terminated pursuant to Section 7.

 

6.               Timing and
Manner of Payment of Stock Units.  On or as soon as administratively practical following
each vesting of the applicable portion of the total Award pursuant to Section 2
hereof or Section 7 of the Plan (and in all events not later than two and
one-half months after the applicable vesting date), the Company shall deliver
to the Grantee a number of shares of Common Stock (either by delivering one or
more certificates for such shares or by entering such shares in book entry
form, as determined by the Corporation in its discretion) equal to the number
of Stock Units subject to this Award that vest on the applicable vesting date,
unless such Stock Units terminate prior to the given vesting date pursuant to Section 7.  The Company’s obligation to deliver shares of
Common Stock or otherwise make payment with respect to vested Stock Units is subject
to the condition precedent that the Grantee or other person entitled under the
Plan to receive any shares with respect to the vested Stock Units deliver to
the Company any representations or other documents or assurances as the Company
may deem necessary or reasonably desirable to ensure compliance with all
applicable legal and regulatory requirements. 
The Optionee shall have no further rights with respect to any Stock
Units that are paid or that terminate pursuant to Section 7.

 

7.               Effect of a
Termination of Service.  If
the Grantee ceases to be a member of the Board for any reason, the Stock Units
shall terminate to the extent such units have not become vested prior to the
first date the Grantee is no longer a member of the Board.  If any unvested Stock Units are terminated
hereunder, such Stock Units shall automatically terminate and be 

 

 

cancelled
as of the applicable termination date without payment of any consideration by
the Company and without any other action by the Grantee, or the Grantee’s
beneficiary or personal representative, as the case may be.

 

8.               Notices.  Any notice required or permitted under this
Agreement shall be deemed given when personally delivered, or when deposited in
a United States Post Office, postage prepaid, addressed, as appropriate, to the
Grantee either at the address in the records of the Company or such other
address as may be designated by Grantee in writing to the Company; or to the
Company, Attention: Secretary, 1444 South Alameda Street, Los Angeles, California  90021, or such other address as the Company
may designate in writing to the Grantee.

 

9.               Failure to
Enforce Not a Waiver.  The failure
of the Company or the Grantee to enforce at any time any provision of this
Agreement shall in no way be construed to be a waiver of such provision or of
any other provision hereof.

 

10.         Governing Law.  This Agreement shall be governed by and
construed according to the laws of the State of Delaware.

 

11.         Amendments.  This Agreement may be amended or modified at
any time by an instrument in writing signed by both parties, subject to Section 6
of the Plan.

 

12.         No Right to
Re-Election.  Neither the
grant of the Award nor the execution of this Award Agreement shall interfere in
any way with the right of the Company to terminate its relationship with the
Grantee at any time.

 

13.         No Restriction
on Right of Company to Effect Corporate Changes.  Neither the grant of the Award, the Plan nor
this Award Agreement shall affect or restrict in any way the right or power of
the Company or its shareholders to make or authorize any adjustment,
recapitalization, reorganization or other change in the capital structure or
business of the Company, or any merger or consolidation of the Company, or any
issue of stock or of options, warrants or rights to purchase stock or of bonds,
debentures, preferred or prior preference stocks whose rights are superior to
or affect the Common Stock or the rights thereof or which are convertible into
or exchangeable for Common Stock, or the dissolution or liquidation of the
Company, or any sale or transfer of all or any part of the assets or business
of the Company, or any other corporate act or proceeding, whether of a similar
character or otherwise.

 

14.         Entire
Agreement.  This Award
Agreement and the Plan set forth the entire agreement and understanding between
the parties hereto with respect to the matters covered herein, and supersede
any prior agreements and understandings concerning such matters.  This Award Agreement may be executed in one
or more counterparts, each of which shall be deemed to be an original, but all
such counterparts shall together constitute one and the same agreement.  The headings of sections and subsections
herein are included solely for convenience of reference and shall not affect
the meaning of any of the provisions of this Award Agreement.  This Award Agreement shall be assumed by, be
binding upon and insure to the benefit of any successor or successors to the
Company.

 

15.         Plan.  The Award and all rights of the Grantee under
this Award Agreement are subject to the terms and conditions of the Plan,
incorporated herein by this reference. 
The Grantee agrees to be bound by the terms of the Plan and this Award
Agreement. The Grantee acknowledges having read and understanding the Plan and this
Award Agreement.  Unless otherwise 

 

 

expressly
provided in other sections of this Award Agreement, provisions of the Plan that
confer discretionary authority on the Board do not and shall not be deemed to
create any rights in the Grantee unless such rights are expressly set forth
herein or are otherwise in the sole discretion of the Board so conferred by
appropriate action of the Board under the Plan after the date hereof.

 

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed on its behalf by a duly authorized officer and
the Grantee has hereunto set his or her hand as of the date and year first
above written.

 

	
   

  	
  GUESS?, INC.,

  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Print
  Name: Deborah Siegel

  
	
   

  	
   

  
	
   

  	
  Its:
  

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRANTEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Print NameExhibit 10.2

 

 

October 4, 2010

 

Mr. Michael Prince

2356 NW Hoyt Street

Portland, OR 
97210

 

Dear
Mr. Prince:

 

I
am very pleased to extend to you an offer of employment at GUESS? Inc. as Chief
Operating Officer.  In this position you
will be reporting directly to Paul Marciano, Chief Executive Officer, The Board
of Directors and me.  Your start date
will be determined upon mutual agreement at a later date. We feel you would be
an excellent addition to the team and to the GUESS? family.

 

The
terms of your offer are as follows:

 

1.               Base salary of $450,000.00 per year, with exempt
status, paid in accordance with the Company’s normal payroll practices.

 

2.               Car allowance of $800.00 per
month, paid in accordance with the Company’s normal payroll practices.

 

3.               You will be eligible to
participate in GUESS?, Inc.’s Executive Bonus Program, which currently
bases awards on individual performance and objectives, department, and Company
objectives.  As a participant in this
plan, your bonus opportunity may include both cash and long term equity
incentives as a percentage of your base salary, with an annual target of 40%
for cash bonus and 60% for the long term incentive equity component.  If your employment with the Company begins
after the first fiscal quarter of the year, the bonus will be pro-rated.

 

4.               In addition to the
compensation set forth above and subject to approval by the GUESS?, Inc.
Compensation Committee at its next meeting, you will be granted the following
equity compensation pursuant to the GUESS?, Inc.  Equity Incentive Plan:

 

(a)          Non-qualified options to
purchase 25,000 shares of the Common Stock of GUESS?, Inc. with an
exercise price equal to the closing price of the Common Stock on the grant
date.  Such stock options will vest
during your employment over a four-year period as follows: one-fourth of your
options will vest on each anniversary of the date of grant until fully vested.

 

 

 

(b)         Restricted stock in the
amount of 10,000 shares of Common Stock subject to your signing of a restricted
stock agreement with standard terms and conditions for restricted stock awards
as determined by the Compensation Committee. 
Among other conditions, you will be required to pay the par value of one
cent ($.01) per share of your restricted stock on the date of grant.  Your restricted stock will vest over a
four-year period as follows: one- fourth of your shares will vest on each
anniversary of the date of grant until fully vested.

 

5.               Medical, dental, life,
vacation and disability benefits commensurate in accordance with your position
at GUESS?, Inc. You will accrue vacation benefits at the rate of four
weeks per year.  You will be eligible to
participate in the GUESS?, Inc. 401k Savings Plan following the completion
of your first 90 days of service.  In
addition, you will be eligible to participate in the GUESS?, Inc. Deferred
Compensation Plan.  You will be provided
with a summary and details of these benefits when you begin employment with the
Company.

 

6.               Relocation expenses incurred
during the move from Portland to Los Angeles, including temporary housing, will
be provided by GUESS?, Inc. Please note that these expenses are considered
income for IRS purposes, and you will be taxed on this amount, including
applicable payroll taxes. Your relocation will be coordinated through GUESS?, Inc.
and Professional Relocation & Consulting Services. If you voluntarily
resign from GUESS?, Inc. within twelve months of your hire date, you will
be responsible to reimburse GUESS?, Inc. for all relocation expenses.

 

We
look forward to your joining us at GUESS?, Inc., and a prosperous future
together. Please feel free to contact me if you have any questions.

 

Sincerely,

 

	
   /s/
  Maurice Marciano

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  MAURICE MARCIANO

  	
   

  	
   

  
	
  Chairman
  of the Board

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  AGREED &
  ACCEPTED

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  J. Michael Prince

  	
  10/07/10

  	
   

  
	
   

  	
   

  	
   

  
	
  Michael
  Prince

  	
  Date

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