DESTINATION XL GROUP, INC. (NASDAQ:DXLG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry Into a Material Definitive Agreement.
On May 25, 2017, Destination XL Group, Inc. (the Company) entered
into the First Amendment to Employment and Chairman Compensation
Agreement (the Amendment) with Seymour Holtzman, the Companys
Executive Chairman of the Board of Directors (the Board).
to the terms of the Amendment, effective May 4, 2017, Mr.
Holtzman has agreed to receive a reduction in his annual
compensation for his services as Executive Chairman from $372,750
to $200,000.Mr. Holtzman will continue to receive an annual base
salary of $24,000 for his service as an employee of the Company,
reporting to the Board.No other changes to the Employment and
Chairman Compensation Agreement were made.
The foregoing description is qualified in its entirety by
reference to the Amendment, which is attached hereto as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
|
10.1 |
First Amendment to Employment and Chairman Compensation |
About DESTINATION XL GROUP, INC. (NASDAQ:DXLG)
Destination XL Group, Inc. is a specialty retailer of men’s apparel with retail and direct operations in the United States and London, England. The Company operates through the Big & Tall Men’s Apparel segment. The Company operates under the trade names of Destination XL, DXL, Casual Male XL, Casual Male XL outlets, DXL outlets, Rochester Clothing, ShoesXL and LivingXL. The Company operates approximately 170 Destination XL stores, 125 Casual Male XL retail stores, 40 Casual Male XL outlet stores, nine DXL outlet stores and five Rochester Clothing stores. Its direct business includes its DestinationXL.com and bigandtall.com e-commerce sites, which support its stores, brands and product extensions. Through its multiple brands, which include both branded apparel and private-label, the Company offers a range of merchandise. The Company carries various designer brands, including Cole Haan, Allen Edmonds, Timberland, Calvin Klein, Lacoste, Donald J. Pliner and Bruno Magli. DESTINATION XL GROUP, INC. (NASDAQ:DXLG) Recent Trading Information
DESTINATION XL GROUP, INC. (NASDAQ:DXLG) closed its last trading session 00.00 at 2.25 with 231,372 shares trading hands.