CASH INCENTIVE AWARD AGREEMENT
Exhibit 10.139d
AGREEMENT made effective February 1, 2014 by and among Xxxxxxx & Co., a Delaware corporation (the “Company”), Xxxxxxx and Company, the New York subsidiary corporation of the Company (“Tiffany”) and • (“Executive”).
1. This Agreement is intended to be an Award Agreement under the Plan and is subject to all terms and conditions set forth in such Plan, including the Plan provisions limiting implied rights.
2. Executive agrees that he/she shall not be entitled to any cash bonus in respect of the fiscal year ending January 31, 2015 except as provided in this Agreement.
3. Tiffany agrees to pay, or, failing that, the Company shall pay, cash Incentive Award to Executive in respect of the fiscal year ending January 31, 2015 only as follows:
(a) Such award shall be paid, if at all, following the close of such fiscal year and after financial results have been determined and publicly announced, provided that Executive remains employed with Tiffany through the end of such fiscal year;
(b) No award shall be payable unless the following Performance Measure is achieved:
the Company’s consolidated operating earnings for such fiscal year (as adjusted by the Committee pursuant to Section 9.1 of the Plan) equal or exceed $534 million;
(c) If the condition stated in subparagraph (b) is satisfied, a maximum Incentive Award of $•[see Schedule of Maximum Awards attached] will be payable to you, subject to the discretion of the Committee to reduce such award; the Committee will not be limited in the exercise of such discretion.
4. This Agreement shall be governed by the law of the State of New York applicable to agreements made and to be performed within said state.
5. Notwithstanding any other provisions in this Agreement to the contrary, any Incentive Award or portion thereof paid to Executive under this Award Agreement, shall be subject to deductions and clawback as may be required under any applicable law, government regulation or stock exchange listing requirement, or any policy adopted by the Company, including but not
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limited to the Policy for Recovery of Incentive-based Compensation Erroneously Awarded to Executive Officers, adopted by the Parent Board on September 18, 2013.
Xxxxxxx & Co. | ||
(the “Company”) | ||
[Name of Executive] | ||
Xxxxxxx and Company | ||
(“Tiffany”) | ||
Schedule of Maximum Incentive Awards
Xxxxxxx X. Xxxxxxxx -- $3,000,000
Xxxxxxxx Xxxxxxx -- $2,250,000
Xxxxx X. Xxxxxxxxx -- $1,190,000
Xxx Xxxx -- $1,036,000
Xxxxxx X. Cloud -- $660,000
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