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COH » Topics » Transition Employment Agreement and Retirement of Keith Monda

These excerpts taken from the COH DEF 14A filed Sep 25, 2009.

Transition Employment Agreement and Retirement of Keith Monda

Effective July 4, 2008, Keith Monda retired from his position as Coach’s President and Chief Operating Officer. On that date, Mr. Monda’s existing employment agreement with the Company was terminated, and the Company entered into a Transition Employment Agreement with him. Mr. Monda’s agreement provided that he would remain as a part-time employee of the Company until August 31, 2009 and is more fully described under “Employment Agreements” above. The value of Mr. Monda’s transition employment agreement and retirement benefits is displayed below.

   
Compensation Component   Description   Estimated Value(1)
Base salary            $ 207,466  
Bonuses (performance-based and other)     Not eligible     $ 0  
Contract unvested stock options     Forfeited     $ 0  
Annual unvested RSUs     Vesting continues during part time employment     $ 830,342  
Annual unvested stock options     Vesting and exercisability continue until original expiration date     $ 0  
Continuation of employee benefits and perquisites     Medical & dental insurance, executive life and long-term disability insurance; automobile lease     $ 107,028  
Total            $ 1,144,836  

(1) RSU and stock option valuations assume a stock price of $26.93 per share, the closing price of our common stock on June 26, 2009. The value shown for continuation of employee benefits and perquisites reflect the actual costs incurred during fiscal 2009, as well as the expected future costs of each program to the Company as of July 1, 2009. These costs may change.

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Transition Employment Agreement and Retirement of Keith Monda



Effective July 4, 2008, Keith Monda retired from his position as Coach’s President and Chief Operating Officer. On that date, Mr. Monda’s existing employment agreement with the Company was terminated, and the Company entered into a Transition Employment Agreement with him. Mr. Monda’s agreement provided that he would remain as a part-time employee of the Company until August 31, 2009 and is more fully described under “Employment Agreements” above. The value of Mr. Monda’s transition employment agreement and retirement benefits is displayed below.





























































































































































































   
Compensation Component   Description   Estimated Value(1)
Base salary            $ 207,466  
Bonuses (performance-based and other)     Not eligible     $ 0  
Contract unvested stock options     Forfeited     $ 0  
Annual unvested RSUs     Vesting continues during part time employment     $ 830,342  
Annual unvested stock options     Vesting and exercisability continue until original expiration date     $ 0  
Continuation of employee benefits and perquisites     Medical & dental insurance, executive life and long-term disability insurance; automobile lease     $ 107,028  
Total            $ 1,144,836  

















(1) RSU and stock option valuations assume a stock price of $26.93 per share, the closing price of our common stock on June 26, 2009. The value shown for continuation of employee benefits and perquisites reflect the actual costs incurred during fiscal 2009, as well as the expected future costs of each program to the Company as of July 1, 2009. These costs may change.




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These excerpts taken from the COH DEF 14A filed Sep 19, 2008.

Transition Employment Agreement and Retirement of Keith Monda

Effective July 4, 2008, Keith Monda retired from his position as Coach’s President and Chief Operating Officer. On that date, Mr. Monda’s existing employment agreement with the Company was terminated, and the Company entered into a Transition Employment Agreement with him. Mr. Monda’s agreement provides that he will remain as a part-time employee of the Company until August 31, 2009 and is more fully described under “Employment Agreements” below. The value of Mr. Monda’s transition employment agreement and retirement benefits is displayed below.

   
Compensation Component   Description   Estimated Value(1)
Base salary            $ 207,466  
Bonuses (performance-based and other)     Not eligible     $ 0  
Contract unvested stock options     Forfeited     $ 0  
Annual unvested RSUs     Vesting continues during part time employment     $ 903,108  
Annual unvested stock options     Vesting and exercisability continue until original expiration date     $ 0  
Continuation of employee benefits and perquisites     Medical & dental insurance, executive life and long-term disability insurance; automobile lease     $ 107,294  
Total            $ 1,217,868  

(1) RSU and stock option valuations assume a stock price of $29.29 per share, the closing price of our common stock on June 27, 2008. The value shown for continuation of employee benefits and perquisites reflect the cost of each program to the Company as of July 1, 2008. These costs may change annually.

Transition Employment Agreement and Retirement of Keith Monda



Effective July 4, 2008, Keith Monda retired from his position as Coach’s President and Chief Operating Officer. On that date, Mr. Monda’s existing employment agreement with the Company was terminated, and the Company entered into a Transition Employment Agreement with him. Mr. Monda’s agreement provides that he will remain as a part-time employee of the Company until August 31, 2009 and is more fully described under “Employment Agreements” below. The value of Mr. Monda’s transition employment agreement and retirement benefits is displayed below.





























































































































































































   
Compensation Component   Description   Estimated Value(1)
Base salary            $ 207,466  
Bonuses (performance-based and other)     Not eligible     $ 0  
Contract unvested stock options     Forfeited     $ 0  
Annual unvested RSUs     Vesting continues during part time employment     $ 903,108  
Annual unvested stock options     Vesting and exercisability continue until original expiration date     $ 0  
Continuation of employee benefits and perquisites     Medical & dental insurance, executive life and long-term disability insurance; automobile lease     $ 107,294  
Total            $ 1,217,868  

















(1) RSU and stock option valuations assume a stock price of $29.29 per share, the closing price of our common stock on June 27, 2008. The value shown for continuation of employee benefits and perquisites reflect the cost of each program to the Company as of July 1, 2008. These costs may change annually.


EXCERPTS ON THIS PAGE:

DEF 14A (2 sections)
Sep 25, 2009
DEF 14A (2 sections)
Sep 19, 2008

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