The Dress Barn, Inc. Suffern, NY 10901 September 25, 2009
EXHIBIT
10.1
The Dress
Barn, Inc.
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September
25, 2009
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▇▇▇▇▇▇▇▇▇ Retail Consulting Ltd.
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Attention:
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Dear
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Reference is made to the letter
agreement dated as of July 18, 2006 (the “Consulting Agreement”), by and between
The Dress Barn, Inc. (the “Company”) and you.
The Company and you hereby agree as
follows:
1. For
clarification purposes only, this will confirm that (i) all consulting services
provided under the Consulting Agreement have been and will continue to be
provided by you personally, but on behalf of ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Retail Consulting
Ltd. (the “Consultant”), and all references to “you” and “your” in paragraphs 2,
3 and 7 of the Consulting Agreement shall be deemed to refer to the Consultant;
(ii) all grants to you as a director of the Company are grants to you
personally, not to your company; and (iii) so long as you are providing
consulting services you may use the title “Director Emeritus” but such title is
not an officer or director position and will not enable you to enter into any
binding commitment on behalf of the Company.
2. Paragraph
6 of the Consulting Agreement is hereby deleted in its entirety, and the
following shall be inserted in lieu thereof:
“6.
This
agreement will continue in effect through September 25, 2012 and thereafter
shall renew automatically for successive one year terms, unless terminated by
either party upon delivery of written notice on or prior to the date that is 90
days prior to the expiration of the then current term.”
3. Except
as amended hereby, all the terms of the Consulting Agreement shall remain in
full force and effect. This agreement amends certain provisions of
the Consulting Agreement and together with the Consulting Agreement sets forth
the entire agreement and understanding of the parties hereto in respect of the
subject matter hereof and thereof.
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September
25, 2009
Page
2
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Please
confirm your agreement by countersigning where indicated below.
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Sincerely,
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| THE DRESS BARN, INC. | |||
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By:
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/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | |
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Chairman
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ACKNOWLEDGED
AND AGREED:
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▇▇▇▇▇▇▇▇▇ RETAIL CONSULTING LTD.
| By: | /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ |
| ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ | |
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President
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/s/ ▇▇▇▇
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▇▇▇▇▇▇▇▇▇, individually