Document:

Exhibit 10.1

 

AMENDMENT AGREEMENT TO

ARCH THERAPEUTICS, INC.

ACCELERATOR FUNDING AGREEMENT

 

This AMENDMENT AGREEMENT
(“Amendment”) is made as of the 28th day of September, 2016 by and between the Massachusetts Life Sciences Center (“MLSC”),
an independent public instrumentality of The Commonwealth of Massachusetts established pursuant to Chapter 23I of the Massachusetts
General Laws, and Arch Therapeutics, Inc. (“Recipient”), a Nevada corporation, having its principal office and place
of business at 235 Walnut Street, Suite 6, Framingham, MA 01702.

 

WHEREAS, MLSC
and Recipient are parties to that certain Massachusetts Life Sciences Center Accelerator Funding Agreement, dated as of September
30, 2013 (the “Loan Agreement”), pursuant to which MLSC loaned recipient $1,000,000 (the “Loan”);

 

WHEREAS, in
connection with the Loan Agreement, Recipient issued MLSC that certain Promissory Note in the original principal amount of $1,000,000
issued by Recipient to MLSC on September 30, 2013 (the “Note” and collectively with the Loan Agreement and the Loan
(the “Loan Documents”); and

 

WHEREAS, MLSC
and Recipient have agreed to an early repayment plan of the Loan, a reduction in the interest rate and amendment of the Loan Documents
on the terms and conditions set forth herein.

 

NOW, THEREFORE,
in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree as follows:

 

1.           Repayment
of Loan.

 

a.           Section
1.1(b) of the Loan Agreement shall be deleted in its entirety and the following Section 1.1(b) shall be inserted in lieu thereof:

 

The Loan will bear interest at
the rate of ten percent (10%) per annum compounding annually based on a 365-day year and determined as of the Distribution Date
(as defined in Section 1.4 hereof) through October 2, 2016 and at the rate of seven percent (7%) based on a 360-day year as of
October 3, 2016 and in accordance with the schedule attached as Exhibit F whereby Recipient shall make twelve (12) monthly payments
of $106,022.04 (“Installment Payments”) on or before the third day of each month beginning with October 3, 2016 and
making a final payment of $106,022.05 on October 3, 2017 (“Maturity Date”).

 

     

     

    

 

Notwithstanding the foregoing,
in the event of the earlier of (i) the closing of a Corporate Event (as defined below) or (ii) the occurrence of a Default (as
defined in the Note), the principal and any remaining unpaid accrued interest on the Note (the “Accrued Balance”),
less the total of any Installment Payments, shall be immediately due and payable.

 

Recipient may elect to redeem the
Note and pay the Accrued Balance, in whole or in part (whether by stated maturity, by acceleration or otherwise) without penalty
or premium, subject to providing MLSC with thirty (30) days’ written notice of proposed redemption.

 

b.           Section
1.1(c)(v) of the Loan Agreement shall be deleted in its entirety and the following Section 1.1(c)(v) shall be inserted in lieu
thereof:

 

“Qualified Financing”
shall mean a sale of any shares of Recipient’s capital stock or any other equity interest to any party pursuant to which
Recipient receives, in a single transaction or series of transactions, cumulative net proceeds of not less than five million dollars
($5,000,000) from October 3, 2016 through the Maturity Date.

 

c.           The
second paragraph of the Note shall be deleted in its entirety and the following paragraph shall be inserted in lieu thereof:

 

All outstanding principal and unpaid
accrued interest shall be due and payable upon the earlier of (i) October 3, 2017 (“Maturity Date”), (ii) the closing
of a Corporate Event (as defined herein) or (iii) upon Default (as defined herein).

 

2.           Event
of Default. Section 4 of the Note is amended by adding the following Section 4(h) at the end thereof:

 

	(h)		Recipient shall have (i) breached or violated any provision of the Amendment Agreement,
dated as of September 28th, 2016, by and between Recipient and MLSC and (ii) not cured such breach within ten (10) business days
after Recipient is notified by MLSC in writing of such breach.

 

3.           Corporate
Event. Section 5(b) of the Note shall be deleted in its entirety and the following Section 5(b) shall be inserted in lieu thereof:

 

“Qualified Financing”
shall mean a sale of any shares of Recipient’s capital stock or any other equity interest to any party pursuant to which
Recipient receives, in a single transaction or series of transactions, cumulative net proceeds of not less than five million dollars
($5,000,000) from October 3, 2016 through the Maturity Date.

 

     

     

    

 

4.           Amendment
Provision. This Amendment is entered into by the MLSC and Recipient in a manner consistent with the provisions of Section
7.7 of the Loan Agreement and Section 7 of the Note. Except as expressly set forth in this Amendment, each of the Loan
Documents is not amended or modified, MLSC has not waived the terms of any of the Loan Documents, and the terms and provisions
of each of the Loan Documents are ratified and confirmed and such terms shall remain in full force and effect.

 

5.           General.
Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Loan Agreement. This Amendment may
be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. The terms of this Amendment shall be construed in accordance with the laws of the Commonwealth of
Massachusetts, without regard to choice of law provisions.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Amendment Agreement on the date first written above.

 

	MASSACHUSETTS LIFE SCIENCES CENTER	 	ARCH THERAPEUTICS, INC.
	 	 	 	 	 
	By:	/s/ Travis McCready	 	By:	/s/ Terrence W. Norchi, MD
	 	Travis McCready	 	 	Terrence W. Norchi, MD
	 	President and CEO	 	 	President and CEOEX-10.1

 Exhibit 10.1 

AMENDMENT TO 
 VALSPAR
CORPORATION 
 NONQUALIFIED DEFERRED COMPENSATION PLAN 

AND ADOPTION AGREEMENT 

WHEREAS, The Valspar Corporation (the “Company”) has entered into the Agreement and Plan of Merger, dated as of
March 19, 2016, by and among the Company, The Sherwin-Williams Company (“Parent”) and Viking Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of Parent (the “Merger Agreement”); 

WHEREAS, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company
(the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of Parent; 
 WHEREAS, the
Company maintains the Valspar Corporation Nonqualified Deferred Compensation Plan (the “Deferred Compensation Plan”), which was adopted by the Company pursuant to the Adoption Agreement executed on April 1, 2014 (the
“Adoption Agreement”); and 
 WHEREAS, the Company desires to amend the Deferred Compensation Plan and the Adoption
Agreement in connection with the Merger. 
 NOW, THEREFORE, the Deferred Compensation Plan and the Adoption Agreement shall be
amended as follows, effective (except as otherwise specified herein) as of the date that this Amendment to Valspar Corporation Nonqualified Deferred Compensation Plan and Adoption Agreement (this “Amendment”) is executed pursuant to
authorization granted by the Board of Directors of the Company: 
 Amendment of Deferred Compensation Plan 

1. Contingent upon the Merger becoming effective, and effective as of the time the Merger becomes effective (the “Effective
Time”), Section 10.2 of the Deferred Compensation Plan is hereby amended by adding the following sentence at the end thereof, and in no event shall the following sentence be amended or deleted from the Deferred Compensation Plan prior
to the day after the first anniversary of the Effective Time: 
 “Notwithstanding the foregoing, the Plan may not be terminated
pursuant to Treasury Regulation Section 1.409A-3(j)(4)(ix)(B) in connection with the transactions contemplated by the Agreement and Plan of Merger, dated as of March 19, 2016, by and among The Valspar Corporation, The Sherwin-Williams
Company and Viking Merger Sub, Inc.” 
 Amendment of Adoption Agreement 

2. Section 4.01(a)(i)(a) of the Adoption Agreement is hereby amended by deleting the maximum percentage amount of “50%”
specified therein with respect to base salary and replacing such percentage amount with “80%”. 
 IN WITNESS WHEREOF, the
undersigned has caused this Amendment to be executed as of the 27th day of September, 2016. 
  

			
	THE VALSPAR CORPORATION
		
	By:	 	 /s/ Anthony L. Blaine

		 	Name: Anthony L. Blaine
		 	Title: Senior Vice President, Human ResourcesEX-10.1

 Exhibit 10.1 

September 21, 2016 
 Robert Madore 

Dear Robert, 
 We are pleased to offer you a position with
American Eagle Outfitters, Inc. or one of its subsidiaries or affiliates (collectively, the “Company”) in Pittsburgh, PA. This letter confirms the terms of the Company’s offer with respect to your planned employment. You will join the
Company as EVP, Chief Financial Officer, reporting directly to the Chief Executive Officer. The details of the offer are outlined below. 
 This offer
letter and the terms of our offer are strictly confidential. To the fullest extent permitted by law, you agree to keep this offer and its terms confidential and you will not disclose the offer or its terms to any third party (excluding your spouse,
lawyer, tax advisor or pursuant to court order). You understand that if you breach this provision the offer will be automatically revoked and the Company will have no obligation to you. Notwithstanding the foregoing, in the event the offer letter is
publically disclosed by the Company, the confidentiality and non-disclosure restrictions shall not include any information publically disclosed. 

Anticipated Start Date (“Start Date”): The Company anticipates that your first day of employment will be October 28, 2016.

 Sign on Compensation: 
 Sign-on
Bonus: A one-time cash bonus of $500,000 will be paid within the first week of January of 2017, subject to the attached repayment agreement. 

Ongoing Compensation & Benefits: 

Salary: You will receive an annualized base salary of $850,000, payable every two weeks in accordance with the Company’s normal payroll
practices. 
 Annual Incentive Compensation Bonus: You will be eligible to earn an annual incentive compensation bonus for each fiscal year of
your employment, with (a) a target opportunity of 85% of your base salary actually paid in the fiscal year and (b) a maximum opportunity of 170% of your base salary actually paid in the fiscal year. If your start date falls on or before
the final business day of the Company’s 3rd quarter (October 29,2016), you will first be eligible to receive this bonus for the Company’s 2016 fiscal year (to be paid in Spring 2017).
For each performance year, the actual amount of your incentive compensation bonus will be determined at the sole discretion of the management, based upon: (i) the achievement of the Company and brand (if applicable) financial
performance-based goals to be established by the Compensation Committee of the Board of Directors; and (ii) your overall level of performance. In order to be eligible to receive an incentive compensation bonus, you must remain continuously
employed by the Company or any of its subsidiaries or affiliates in a bonus eligible position through the date that it is paid. 

Annual Equity Compensation:  

Restricted Stock Units: Beginning in Spring 2017, you will be granted an annual Restricted Stock Unit award (Annual RSU Award) in respect of a
number of shares equal to $255,000 divided by the closing price of the Company’s common stock on the grant date. The Annual RSU Award will be a part of the ordinary course fiscal year 2017 grant made by the Committee and shall be subject to all
terms and conditions set forth in the 2014 Plan, and an award agreement in the form determined by the Committee. 
 The Annual RSU Award will vest
proportionally over three years from the grant date based solely on your continued service to the Company over that period. 
 Performance Share
Plan: Beginning in Spring 2017, you will be granted a Performance Share Plan award (Annual PS Award) under the company long-term restricted stock unit incentive plan. The target number of shares which you may earn under the Annual PS Award
is $595,000 divided by the closing price of the Company’s common stock on the grant date. Vesting of the Annual PS Award will be contingent upon the achievement of Company performance goals for a given 3-year period. Based upon Company
performance, the Annual PS Award will vest at the time that the Committee 

 
certifies the level of achievement of goals for the 3-year period, subject to your continued employment through the vesting date. The actual number of units vested will be based upon a sliding
performance scale, varying between 0-150% of the target award. Units which do not vest based on Company performance will be forfeited. 
 The Annual PS
Award will be part of the ordinary course fiscal year 2017 grant made by the Committee and shall be subject to all terms and conditions set forth in the 2014 Plan, and an award agreement in the form determined by the Committee. 

The Company reserves the right in its sole discretion to change or modify the manner or mode of delivering compensation and benefits for a performance year
that the Company, in its sole discretion, deems equivalent. 
 Performance Review: Annual performance appraisals take place in March. You will
receive your first evaluation for merit consideration in Spring, 2018 with an April effective date.
 Benefits Plans and Other Programs: You
will be eligible to participate in the Company’s benefit plans and programs that the Company offers to its other senior executives, subject to the provisions of those plans.1 These benefits
include a 401(k) plan, medical, dental, vision, and life insurance, and short and long term disability insurance. For an additional overview of other provided benefits please refer to the enclosed booklet for benefits. Some additional benefits are
outlined below: 
  

	 	•	 	Employee Stock Purchase Plan: You will be eligible to start contributing on the first pay period of the month following your 60th day of employment. You can contribute any dollar amount up to
$100 per pay period (or more without the Company match, pursuant to the terms of the plan), and the Company will match 15% of your contribution, up to $15.00 per pay. This stock vests immediately! 

 

	 	•	 	401(k) Plan: You will be eligible to begin contributing on the first pay period of the month following your 60th day of employment. Associates are automatically enrolled at a three percent
(3%) of pay contribution rate, which is deducted from pay. If you wish to decline enrollment or contribute at a different rate, you must contact The Principal by the 20th of the month prior to your
eligibility. Automatic increases will occur January 1st of every year after you are Company match eligible and will stop when you reach an elective deferral rate of six percent (6%) of pay. The Company will match on associate
contributions of the first 6% of pay after one year of service with the following scale: 1-3% Associate contribution = 100% Company match; 4-6% Associate contribution = 50% Company match (this means that if you contribute 6% of pay, you will
receive an aggregate Company match of 4.5%). In addition, Associates may contribute up to 30% of their annual pay up to the IRS annual allowable maximum. Associates are 100% vested in their employee contribution from day one and are 100%
vested in the employer match after two years of employment. 

  

	 	•	 	Deferred Compensation Plan: Upon eligibility, you may elect to contribute a portion of your salary and, in future years, your bonus to the Deferred Compensation Plan on a tax-deferred basis. This plan
provides you with an additional savings vehicle and allows scheduled withdrawals without early withdrawal penalties in accordance with its terms. 

  

	 	•	 	Health Insurance: Medical, dental and vision coverage (if you elect to participate) will begin with the pay period following the 60th day of your start
date. You can choose between our Aetna US Healthcare Open Choice PPO plan, Highmark Blue Cross Blue Shield PPO, or Aetna High Deductible Health Plan. Each medical plan option provides prescription drug coverage through Express Scripts. Dental
coverage is available through Delta Dental and Vision coverage available through Ameritas Group. 

  

	 	•	 	Cobra: The Company will reimburse you for 70% of the cost of COBRA insurance you purchased from your prior employer for yourself and your eligible dependents until you are eligible to begin medical
coverage under the Company’s group health plan. You must provide documentation of premiums (a copy of the endorsed check used for payment or an electronic payment confirmation statement) to our Benefits Department within 30 days of payment.

  

	1 	Receipt of this letter does not automatically entitle you to benefits offered by the Company. Rather, the letter provides an overview of select health insurance and other benefits. If there is any discrepancy between
this letter and the official benefits plan documents, the plan documents always will govern. The Company reserves the right to amend or terminate any benefit plan in its sole discretion at any time and for any reason. The Company also retains the
discretion to interpret any terms or language used in this letter and any such interpretation shall be binding on you. 

  
 2 

	 	•	 	Relocation: The Company is providing relocation assistance to help defray moving costs and other expenses you may incur as you relocate to your new office in Pittsburgh, PA as outlined in the
Company’s relocation guide. Details regarding these benefits will be provided to you in a separate document under separate cover. You will be contacted by the Relocation Services Department with additional details once you have accepted this
offer. 

  

	 	•	 	Paid Time Off (PTO): You will accrue paid time off each pay period (every two weeks) to earn a maximum of 28 PTO days in your first year of employment. You may generally begin to use your PTO days after 60
days of your start date. PTO is inclusive of all personal, sick and vacation days and does not roll over across calendar years. The Company also observes 9 holidays throughout the year (holiday pay will apply). 

Payments Subject to Withholdings & Deductions: The amount of any payment made to you by the Company under the terms of this letter will
be reduced by any required taxes, withholdings, and other authorized employee deductions as may be required by law or as you have elected under the applicable benefit plans. 

Associate Discount: You will receive 40% off regular price merchandise and 25% off sale merchandise. 

At Will Employment: The terms of this letter do not imply employment for any specific period of time. The Company is an “at will”
employer. This means that you can terminate your employment at any time and for any reason and the Company can also terminate your employment at any time and for any reason. 

Notice Period Obligations: By signing this letter, you represent to the Company that your acceptance of this offer and agreement to accept
employment with the Company under these terms will not conflict with, violate or constitute a breach of any employment or other agreement to which you are a party and that you are not required to obtain the consent of any person, firm, corporation
or other entity in order to accept this offer of employment. 
 Non-Disclosure of Confidential, Business and Proprietary or Trade Secret
Information: You further represent and agree that you will not knowingly use or otherwise disclose any confidential, business and proprietary or trade secret information obtained as a result of any prior employment, unless specifically
authorized to do so by your former employer(s). You should clearly understand that this provision of this letter should be regarded as this Company’s explicit instruction for you not to use or disclose this information in breach and / or
violation of your representations and agreement. 
 Confidentiality, Non-competition and Intellectual Property Agreement: Your
employment is conditioned upon your execution of the form of Confidentiality, Non-Competition and Intellectual Property Agreement attached to this letter. 

Background Checks /I-9 Documentation: Any offer with the Company is contingent upon the satisfactory completion of various background
investigations that may include reference checks, employment and education verification, and a federal / national and county level criminal conviction investigation. At or around the time you receive this offer letter, you will be required to sign
and return the Pre-Hire Authorization form and Fair Credit Reporting Act forms. Your hiring and employment with the Company is contingent upon successful completion of your references, your submission to and your ability to provide documentation
sufficient to complete form I-9 as required by law. If your background investigation is unsatisfactory, your contingent employment will be terminated. 

Contractual Severance Payment: You understand that your employment may be terminated by the Company at any time without notice or any payment in
lieu thereof for “cause,” as determined by the Company. Cause will be defined in the same manner as it is in the Change in Control Agreement in place and effective at the time of your termination. If your employment is involuntarily
terminated by the Company, other than a termination for cause and in exchange for your execution and non-revocation of a general release of claims in the form provided by the Company (the “General Release”), you will receive severance in
the form of a series of equal installment payments payable every other week (“Biweekly”) in accordance with the Company’s normal payroll practice as in effect on the date of termination in an amount equal to your then Biweekly base
salary for a period of up to twelve months or until you obtain other employment with the first installment to commence no later than the first payroll date which occurs after the 55th day
following your separation from 

  
 3 

 
service. If the period during which the installments must commence covers two calendar years, the first installment will commence in the second calendar year. The first installment shall include
a “catch up” payment consisting of any amounts that would have been paid earlier had the payments commenced on the first payroll date following the last day of employment. You will not receive any severance payments if you voluntarily
resign or if your termination is a result of your death or disability. 
 Section 409A: The obligations under this letter agreement are
intended to comply with the requirements of Section 409A of the Code or an exemption or exclusion therefrom and shall in all respects be administered in accordance with Section 409A of the Code. Any payments that qualify for the
“short-term deferral” exception, the separation pay exception or another exception under Section 409A of the Code shall be paid under the applicable exception to the maximum extent permissible. For purposes of the limitations on
nonqualified deferred compensation under Section 409A of the Code, each payment of compensation under this letter agreement shall be treated as a separate payment of compensation for purposes of applying the exclusion under Section 409A of
the Code for short-term deferral amounts, the separation pay exception or any other exception or exclusion under Section 409A of the Code. In no event may you, directly or indirectly, designate the calendar year of any payment under this letter
agreement. All payments to be made upon a termination of employment under this letter agreement may only be made upon a “separation from service” under Section 409A of the Code to the extent necessary in order to avoid the imposition
of penalty taxes on you pursuant to Section 409A of the Code. 
 Notwithstanding anything herein to the contrary, if you are considered a
“specified employee” for purposes of Section 409A of the Code (as determined in accordance with the methodology established by the Company as in effect on the date of your termination of employment), any payment or benefit that
constitutes nonqualified deferred compensation within the meaning of Section 409A of the Code that is otherwise due to you under this letter agreement during the six-month period immediately following your separation from service (as determined
in accordance with Section 409A of the Code) on account of your separation from service shall be accumulated and paid to you on the first business day of the seventh month following your separation from service, to the extent necessary to avoid
penalty taxes or accelerated taxation pursuant to Section 409A of the Code. 
 This letter and its attached documents which are incorporated herein by
reference as if fully set forth, constitute the complete understanding between you and the Company concerning the subject matters(s) addressed, and they supersede any prior or written understanding regarding the terms and conditions of your
employment with the Company. No representations have been made to you other than those contained herein. No oral modifications to the commitments made herein shall be valid. Any changes to these terms must be in writing and signed by you and an
authorized representative of the Company. 
 This offer is contingent upon satisfactory references and assessment results. 

Sincerely, 
 /s/ Jay Schottenstein 

Jay Schottenstein 
 Chief Executive Officer 

I have read and understand, and by my signature below agree to the terms and conditions of this letter: 

 

							
	
/s/ Robert Madore                
            
	  		  	
September 23, 2016                
        
	  	
	Robert Madore	  		  	Date	  	

  
 4 

 AMERICAN EAGLE OUTFITTERS, INC. 

RELOCATION EXPENSE PAYBACK AGREEMENT 

For: Robert Madore 
 In exchange for
American Eagle Outfitters, Inc.’s (“American Eagle Outfitters” or the “Company”) agreement to provide monetary assistance to me in connection with my relocation to Pittsburgh, I agree as follows: 

(1) I acknowledge that I have read this American Eagle Outfitters Relocation Expense Payback Agreement and that I understand its provisions. 

(2) I acknowledge that the Company has agreed to pay directly to me, or to third parties on my behalf, the following benefits in connection with my relocation
to Pittsburgh: 
  

			
	 •    Cost of moving household goods
	  	 •    Home finding trip expenses

		
	 •    Relocation allowance
	  	 •    Travel to the new location

		
	 •    Tax gross-up
	  	
		
	 •    Miscellaneous expenses related to my relocation
	  	
		
	 •    Temporary living and return trips home
	  	

 For purposes of this Agreement, the total amount of the relocation benefits paid directly to me or on my behalf shall be
referred to as the “Total Relocation Amount”. 
 (3) I agree that if I voluntarily terminate my employment with the Company, or any of its
affiliated entities or subsidiaries, for any reason whatsoever, or if I am dismissed by the Company, or any of its affiliated entities or subsidiaries based on gross misconduct or proven dishonesty, before the second anniversary of the date
of my signature to this Agreement, I will pay a prorated portion based upon time worked during the 24 month period of the Total Relocation Amount in accordance with this Section 3. 

(4) If I leave the Company’s, or any of its affiliated entities or subsidiaries, employment as stated above, I authorize the Company to deduct from
monies otherwise due to me, any amounts I am obligated hereunder to pay. I understand that if such monies are not sufficient to repay the full amount that I owe, I will immediately pay the remainder owing to the Company under this Agreement. In the
event that I fail to repay the amounts due within 30 days following the date that I terminate my employment, I will also pay the Company interest at an annual rate of one (1%) percent over prime on all amounts that remain unpaid after the end
of such 30-day period. 
 (5) In the event I breach this Agreement, or default on my obligation to repay all of the Total Relocation Amount, I agree to pay
the Company’s cost (including reasonable attorneys’ fees and court costs) of collecting any amounts payable under this Agreement. Any dispute arising under or in connection with the agreement shall be subject to the exclusive jurisdiction
of the state courts located in Pennsylvania. 
 (6) I understand that the Company’s agreement to provide me with the Total Relocation Amount as
outlined herein is made in the Company’s sole discretion. This does not guarantee my employment with American Eagle Outfitters as the Company is an “at-will” employer. 

(7) This Agreement is in addition to, and does not replace or supersede, any other repayment Agreement I have entered into with the Company and/or its
affiliated entities or subsidiaries. 
  

					
	
/s/ Robert Madore                
        
	  		  	September 23, 2016
	Robert Madore	  		  	Date
			
	 Jolene Sunseri
	  		  	September 23, 2016
	Jolene Sunseri	  		  	Date

 THIS RELOCATION EXPENSE PAYBACK AGREEMENT MUST BE SIGNED AND RETURNED TO AMERICAN EAGLE OUTFITTERS, INC. BEFORE
ANY AMOUNTS WILL BE PAID IN CONNECTION WITH YOUR RELOCATION. 
 AIReS 

6 Penn Center West 
 Suite 200 

Pittsburgh, PA 15276 

 AMERICAN EAGLE OUTFITTERS, INC. 

SIGN-ON BONUS PAYBACK AGREEMENT 

American Eagle Outfitters 

For: Robert Madore 
 In exchange for
American Eagle Outfitters, Inc.’s (“American Eagle Outfitters” or the “Company”) agreement to provide a one-time, sign-on bonus in the amount of $500,000 (gross) to me in connection with my employment, I agree as
follows: 
 (1) I acknowledge that I have read this American Eagle Outfitters Sign-On Bonus Payback Agreement and that I understand its provisions. 

(2) I agree that if I voluntarily terminate my employment with American Eagle Outfitters or I am dismissed by the Company based on gross misconduct or proven
dishonesty during the first 24 months of employment following my start date, I will payback to American Eagle Outfitters a prorated amount of the monies based on the time worked during the 24 month period. 

(3) If I leave American Eagle Outfitters employment as stated above, I authorize them to deduct from monies otherwise due me, any amounts I am obligated
hereunder to pay. I understand that if such monies are not sufficient to repay the full amount I owe, I will immediately pay the remainder owed to American Eagle Outfitters under this Agreement. In the event that I fail to pay the remaining amounts
due within 30 days following the date that I terminate my employment, I will also pay the Company interest at an annual rate of one (1%) percent over prime on all amounts that remain unpaid after the end of such 30-day period. 

(4) I understand that the Company’s agreement to provide me with this Sign-On Bonus is made in the Company’s sole discretion. This does not
guarantee my employment with American Eagle Outfitters as the Company is an “at-will” employer. 
 (5) In the event that I fail to adhere to the
repayment obligations as outlined herein, I also agree to pay American Eagle Outfitters cost (including reasonable attorney’s fees and court costs) of collecting any amounts payable under this Agreement. Any dispute arising under or in
connection with the agreement shall be subject to the exclusive jurisdiction of the state courts located in Pennsylvania. 
 (6) This Agreement is in
addition to, and does not replace or supersede, any other repayment Agreement I have entered into with the Company and/or its affiliated entities or subsidiaries. 

Signature:    /s/ Robert
Madore                             

Print Name: Robert
Madore                               

Date: September 23, 2016
                                

ONE COPY OF THIS AMERICAN EAGLE OUTFITTERS, INC. SIGN-ON BONUS PAYBACK AGREEMENT MUST BE SIGNED AND RETURNED TO HUMAN RESOURCES PRIOR TO
PAYMENT OF ANY AMOUNT. PLEASE RETAIN THE OTHER FOR YOUR RECORDS.

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