Michael Kors Holdings Limited – Separation Agreement and General Release (August 7th, 2014)
Separation Agreement and General Release (Agreement), by and between Britton Russell (Employee or you) and Michael Kors (USA), Inc. (together with all of its affiliates, the Company).
Michael Kors Holdings Limited – 1. Title SVP, Global Operations 2. Start Date September 17, 2012 3. Base Compensation $350,000 Per Year 4. Annual Bonus Beginning Fiscal 13 (Which Starts on 4/1/12) You Shall Participate in the Companys Bonus Plan With the Incentive Levels Intended to Be 25% Target- 37.5% Stretch- 50% Maximum; Provided However, That for Fiscal 13 the Amount of the Bonus Payable in Accordance With the Bonus Plan Shall Be Guaranteed at the Maximum Amount Which Would Be $175,000 for the Entire Year, Which Will Be Prorated Based Upon Your Confirmed Start Date. 5. Relocation the Company Shall Reimburse You, Promptl (May 29th, 2013)
Please feel free to call me if you have any questions at all regarding the above. Otherwise, please acknowledge the terms of our offer by returning this letter at your earliest convenience.