SEVERANCE AGREEMENTSeverance Agreement • March 31st, 2010 • Brown Shoe Co Inc • Footwear, (no rubber) • Missouri
This SEVERANCE AGREEMENT (the “Agreement”) is effective as of April 1, 2009 (“Effective Date”) by and between Mark D. Lardie (“Employee”) and Brown Shoe Company, Inc., a New York corporation (“Brown Shoe” and, together with its subsidiaries, the “Company”).
Form of Agreement to Certain Severance AgreementsSeverance Agreement • March 31st, 2010 • Brown Shoe Co Inc • Footwear, (no rubber)
Section 409A to the Internal Revenue Code (“IRC”) imposes significant limitations on amounts that are considered nonqualified deferred compensation (“NDC”). Some payments under your Severance Agreement may be subject to these rules. Therefore, in order to avoid potential negative tax implications to you, we must amend your Severance Agreement to ensure compliance with 409A.
