JCG » Topics » Stock Options

This excerpt taken from the JCG 8-K filed Mar 23, 2005.

Stock Options

You will be eligible to participate in J. Crew’s stock option plan.  Subject to approval of the Compensation Committee of the Board of Directors and the provisions of the company’s stock option plan, you will receive non-qualified stock options to purchase 15,000 shares of J. Crew Group, Inc. common stock as soon as practicable after your start date.  The exercise price will be determined by the Compensation Committee of the Board of Directors and 25% of these options will vest and become exercisable each year on each anniversary of the grant date beginning with the first anniversary thereof, provided you continue to be actively employed by us on each vesting date.


Commuting Expenses and Housing Allowance

We will reimburse you for your reasonable commuting costs to travel between your home in Ohio and the company’s offices in New York City, subject to applicable tax withholdings.  We will also provide you with a monthly housing allowance equal to your actual out-of-pocket cost to maintain housing in the New York area (up to a maximum of  $2,500 per month), subject to applicable tax withholdings. These will be provided for up to eighteen (18) months following your start date, provided that you remain actively employed by us.


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