This excerpt taken from the CHRS DEF 14A filed May 15, 2009.
Compensation Discussion and Analysis” section above.
The employment agreement provided for Ms. Bern’s participation in our retirement and other employee benefit programs. Ms. Bern also was to be reimbursed for perquisites in an amount up to $75,000 per year, on the same terms and for the same purposes as the perquisites provided to our other senior executives. We also provided Ms. Bern with the use of a company car and driver for business efficiency and security purposes.
To the extent permitted by law, we were required to pay any legal fees incurred by Ms. Bern to enforce the employment agreement, up to a maximum of $50,000. If Ms. Bern’s employment was terminated without cause or for good reason, we were required to pay directly or reimburse Ms. Bern up to a maximum of $50,000 for costs of outplacement services that she utilized within the two-year period following termination.
Under the employment agreement, Ms. Bern also agreed not to compete with us and not to solicit our managers or higher-level employees or suppliers during her employment and for a period of 24 months following termination of employment for any reason.
The payments to Ms. Bern upon her resignation from Charming Shoppes are described below in this Proxy Statement under “