SEC Contract Filing

Filing Date: 2016-02-24

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d147673dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION COPY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>EMPLOYMENT AGREEMENT</B>, dated as of February&nbsp;24, 2016 (the &#147;Effective Date&#148;), by and between Iconix Brand Group, Inc., a
Delaware corporation (the &#147;Company&#148;), and David Blumberg (&#147;Executive&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WITNESSETH </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company desires to employ Executive, and Executive desires to be employed by the Company, pursuant to the terms as
provided herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and Executive hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.
Engagement of Executive; Duties. </B>During the Term (as hereinafter defined in Section&nbsp;3 below), Executive shall have the title of Executive Vice President, Chief Strategy Officer, and shall have the authority, duties and responsibilities
customarily exercised by an individual serving in this position in a corporation of the size and nature of the Company and such other authority, duties and responsibilities as may be from time to time delegated to him by the Chief Executive Officer
of the Company consistent with his position, title and responsibilities. In addition, Executive will serve as the head of the Company&#146;s incubator investments group, subject to his service in such role being approved by the Company&#146;s Board
of Directors (the &#147;Board&#148;). Executive shall faithfully and diligently discharge his duties hereunder and use his best efforts to implement the policies established and made known to him by the Company. Executive shall report directly to
the Chief Executive Officer of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. Time. </B>Throughout the Term, Executive shall devote substantially all of his professional time to the
business affairs of the Company, provided that nothing contained herein shall be deemed to restrict Executive from engaging in charitable, civic or community activities and/or from overseeing and directing his personal, financial and legal affairs.
In addition to the foregoing exceptions, Executive will also have the right at any time during the Term to serve on the board of directors of up to two (2)&nbsp;other corporations, trade associations and/or charitable organizations approved by the
Board, such approval not to be unreasonably withheld. For purposes of clarification, a reasonable amount of time spent serving on boards will not be counted toward vacation time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.&nbsp;Term.</B> The term (&#147;Term&#148;) of this Agreement shall commence as of the Effective Date and shall continue unless terminated in accordance
with the provisions of this Agreement. The Company and Executive hereby acknowledge that Executive is an &#147;at will&#148; employee and that his employment is for no definite period and may be terminated at any time by the Company or by Executive
as set forth in Section&nbsp;5. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.&nbsp;Compensation. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Base Salary</U>. Executive&#146;s base salary for the Term will be at a rate of not less than $600,000 per annum (effective retroactive to
January&nbsp;1, 2016, less the car payment made to Executive in January 2016), paid in accordance with the Company&#146;s payroll practices and </P></TD></TR></TABLE>

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policies then in effect, with such increases as determined by the Board or the Compensation Committee of the Board from time to time (such salary, as increased from time to time, the &#147;Base
Salary&#148;). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Annual Bonus</U>. In addition to the Base Salary, Executive shall be eligible for an annual bonus (the &#147;Annual Bonus&#148;) having a t