EXHIBIT 4(C)
HIBBETT SPORTING GOODS, INC.
000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxx 00000
September 13, 1996
Xx. Xxxxx X. Xxxxxxxx
000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, XX 00000
Dear Xxxxx:
This letter will serve to formalize the arrangement entered into by you and
Hibbett Sporting Goods, Inc. (the "Company") on August 1, 1996. The Company
shall pay you for your services as a management consultant an annual fee of
$50,000 payable monthly in arrears. In connection with your performance of such
Services, you shall be appointed the Chairman of the Executive Committee, which
shall be established by the Company. This consulting arrangement is terminable
by either your or the Company immediately upon written notice.
In addition, in consideration of your services to the Company, the Company
has granted to you an option to purchase 70,820 shares of Company common stock,
$0.01 per share par value (the "Common Stock") at an exercise price of $8.48 per
share (the "Option:). The Option shall become exercisable on the date six
months after the consummation of the initial public offering of the Company's
Common Stock (the "Initial Public Offering") and shall expire on the date nine
months after the consummation of the Initial Public Offering. Additional terms
and conditions of such Option shall be documented in an option agreement to be
delivered to you.
Very truly yours,
Hibbett Sporting Goods, Inc.
By: /s/ Xxxx X. Xxxxxx, Xx.
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Xxxx X. Xxxxxx, Xx.
Chairman of the
Board of Directors
Acknowledged: /s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
