bebe stores, inc. (NASDAQ:BEBE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Retention Bonus
To encourage continued employment through the Company’s restructuring process, the Company entered into a
retention bonus agreement with Darren Horvath, the Company's controller and principal accounting officer on August 17, 2017.
Mr. Horvath will receive a retention bonus (the “Retention Bonus”) of fifty thousand dollars ($50,000) should he
remain employed by the Company until December 31, 2017 (the “End Date”). The Retention Bonus will not be earned and will
not be paid if he (i) voluntarily terminates employment or (ii) is terminated by the Company for cause prior to the End Date. If
Mr. Horvaths’ employment is terminated by the Company without cause prior to the End Date, Mr. Horvath will be paid the
entire amount of the Retention Bonus.
The foregoing description of the Retention Bonus does not purport to be complete and is qualified in its entirety by
reference to the Retention Bonus letter agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report
on Form 10-K for the fiscal year ending July 1, 2017.
About bebe stores, inc. (NASDAQ:BEBE)
bebe stores, inc. designs, develops and produces a range of contemporary women’s apparel and accessories. The Company’s product offering includes a range of separates, tops, dresses, active wear and accessories for a range of occasions. It designs and develops its merchandise in-house, which is manufactured to its specifications and it also sources directly from third-party manufacturers. The Company also offers accessories, which include jewelry, optical, fragrance, shoes and handbags. The Company operates stores in the United States, Puerto Rico and Canada. In addition, it has an online store at www.bebe.com that ships to customers in the United States, Canada, Puerto Rico, the United States Protectorates and internationally via its third-party providers, International Checkout and Shoprunner. It has international stores operated by licensees in South East Asia, the United Arab Emirates, Russia, South America, Turkey and other territories.
