SEC Contract Filing

Filing Date: 2025-03-06

Document Content:
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<TYPE>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;19, 2025 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gary
Luster </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195; </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Gary, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is my pleasure to confirm our offer of employment
with Barnes&nbsp;&amp; Noble Education, Inc. (&#147;BNED&#148; or &#147;Company&#148;). The following represents the key elements of our offer: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Job Title:</B></TD>
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<TD VALIGN="top">Senior Vice President, Chief Accounting Officer</TD></TR>
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<TD VALIGN="top"><B>Department and Location:</B></TD>
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<TD VALIGN="top">C0836 BNED Finance Executive - Basking Ridge, NJ</TD></TR>
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<TD VALIGN="top"><B>Reports to:</B></TD>
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<TD VALIGN="top">Jason Snagusky - EVP, Chief Financial Officer</TD></TR>
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<TD VALIGN="top"><B>Starting Date:</B></TD>
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<TD VALIGN="top">March 3, 2025</TD></TR>
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<TD VALIGN="top"><B>Base Salary:</B></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">$335,000 annualized</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Payment is on a biweekly basis and is subject to standard payroll deductions and withholdings. Your work week will be 40 hours<B>. </B>Your position is
considered an exempt position, which means that you will not be eligible for overtime pay for hours worked in excess of 40 hours in a given week.</P></TD></TR>
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<TD VALIGN="top"><B>Bonus:</B></TD>
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<TD VALIGN="top">Eligible to participate in our FY26 Incentive Compensation Plan. The bonus target for your position is 35% of your base salary. Payments under the plan are based upon achievement of measurable objectives as defined by the Company
each fiscal year. Payments may be prorated accordingly based upon your start date and the provisions of the Incentive Plan. The fiscal year period is defined as May 1st to April 30th.</TD></TR>
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<TD VALIGN="top"><B>Cell Phone Stipend:</B></TD>
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<TD VALIGN="top">You are eligible to receive $100 per month for cell phone reimbursement. This will be paid in the first pay period of each month.</TD></TR>
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<TD VALIGN="top"><B>Benefits:</B></TD>
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<TD VALIGN="top">You will be eligible to enroll in the Company&#146;s Benefits Plans. Coverage begins after sixty (60) days of continuous employment. Enrollment information will be provided to you by the Benefits department
(&#8195;&#8195;&#8195;&#8195;&#8195;).</TD></TR>
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<TD VALIGN="top"><B>Equity:</B></TD>
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<TD VALIGN="top">Subject to approval by the Compensation Committee at its next regularly scheduled meeting, you will be eligible to receive an equity grant of 30,000 Performance Shares. The share will vest in 1/3<SUP
STYLE="font-size:75%; vertical-align:top">rd </SUP>tranches based on price tr