Attached files
file | filename |
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EX-10.1 - Childrens Place, Inc. | v167585_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): November 24,
2009
THE
CHILDREN’S PLACE RETAIL STORES, INC.
|
(Exact
Name of Registrants as Specified in Their Charters)
|
Delaware
|
(State
or Other Jurisdiction of
Incorporation)
|
0-23071
|
31-1241495
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
915
Secaucus Road, Secaucus, New Jersey
|
07094
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
(201)
558-2400
|
(Registrant’s
Telephone Number, Including Area Code)
|
Not
Applicable
|
(Former
Name or Former Address, if Changed Since Last
Report)
|
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 (see General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers.
In
connection with the termination of employment of Richard Flaks, Senior Vice
President, Planning, Allocation and Information Technology of The Children’s
Place Retail Stores, Inc. (the “Company”), effective as of August 4, 2009 (the
“Separation Date”), the Company and Mr. Flaks entered into an agreement and
general release (the “Separation Agreement”) on November 24, 2009, pursuant to
which, among other things, Mr. Flaks agreed to release the Company from any and
all claims and liabilities arising out of his employment with the
Company. Pursuant to the terms of the Separation Agreement, Mr. Flaks
is entitled to receive (i) a sum of $499,100, less legally required payroll
deductions, payable in 26 bi-weekly installments and (ii) an additional sum of
$101,500, less legally required payroll deductions, payable within 14 days of
the full execution of the Separation Agreement. Mr. Flaks also is
entitled to receive all wages and payments for accrued but unused paid time off,
less any legally required payroll deductions. Pursuant to the terms
of the Separation Agreement, Mr. Flaks shall be subject to certain
confidentiality covenants and until the first anniversary of the Separation
Date, certain non-competition, non-solicitation and non-interference
covenants.
The
description of the Separation Agreement set forth herein does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current
Report on Form 8-K.
Item
9.01 Financial Statement
and Exhibits.
(d)
|
Exhibits
|
Exhibit
10.1
|
Agreement
and General Release, dated November 24, 2009, between The Children’s Place
Retail Stores, Inc. and Richard
Flaks.
|
2
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: November 25, 2009 | THE CHILDREN’S PLACE RETAIL STORES, INC. | ||
|
By:
|
/s/ Susan J. Riley | |
Name: Susan J. Riley | |||
Title: Executive Vice President, Finance and Administration | |||
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