This excerpt taken from the FL 8-K filed Jun 3, 2009.
Date of Report (Date of earliest event reported): May 28, 2009
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
(b) As reported in the Form 8-K dated September 30, 2008 filed by Foot Locker, Inc. (the Company) on October 1, 2008, the employment of Richard T. Mina, former President and Chief Executive Officer of Foot Locker, Inc.-U.S.A., was terminated without cause as of October 31, 2008. On May 28, 2009, the Company provided the attached Term Sheet to Mr. Minas counsel, indicating that the Company will provide to Mr. Mina the severance benefits set forth on the Term Sheet, including a severance payment of $1,463,942 and a payment of $914,620 from the Supplemental Executive Retirement Plan.
A copy of the Term Sheet is filed as Exhibit 99.1 to this report, and the description of the severance benefits contained herein is qualified in its entirety by reference to such Term Sheet.
99.1 Term Sheet