Coach 2001 Annual Report Download - page 97

Download and view the complete annual report

Please find page 97 of the 2001 Coach annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

Exhibit 10.15
COACH, INC.
2001 EMPLOYEE STOCK PURCHASE PLAN
ARTICLE I.
PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN
1.1 Purpose and Scope. The purpose of the Coach, Inc. 2001 Employee
Stock Purchase Plan is to assist employees of Coach, Inc. and its subsidiaries
in acquiring a stock ownership interest in the Company pursuant to a plan which
is intended to qualify as an "employee stock purchase plan" under Section 423 of
the Internal Revenue Code of 1986, as amended.
1.2 Administration of Plan. The Plan shall be administered by the
Committee. The Committee shall have the power to make, amend and repeal rules
and regulations for the interpretation and administration of the Plan consistent
with the qualification of the Plan under Section 423 of the Code, and the
Committee also is authorized to change the Option Periods, Offering Dates and
Exercise Dates under the Plan by providing written notice to all Employees at
least 15 days prior to the date following which such changes will take effect.
The Committee may delegate administrative tasks under the Plan to one or more
Officers of the Company. The Committee's interpretation and decisions in respect
to the Plan shall be final and conclusive.
ARTICLE II.
DEFINITIONS
Whenever the following terms are used in this Plan, they shall have the
meaning specified below unless the context clearly indicates to the contrary.
The singular pronoun shall include the plural where the context so indicates.
2.1 "Board" shall mean the Board of Directors of the Company.
2.2 "Code" shall mean the Internal Revenue Code of 1986, as amended.
2.3 "Committee" shall mean the Compensation and Employee Benefits
Committee of the Board, which Committee shall administer the Plan as provided in
Section 1.2 above.
2.4 "Common Stock" shall mean shares of common stock of the Company,
par value $0.01 per share.
2.5 "Company" shall mean Coach, Inc., a Maryland corporation.
2.6 "Compensation" shall mean the base salary or wages and targeted
commissions paid to an Employee by the Company or a Subsidiary in accordance
with established payroll procedures.
1
2.7 "Eligible Employee" shall mean an Employee who (a) is customarily
scheduled to work at least 20 hours per week, and (b) whose customary employment
is more than five (5) months in a calendar year.
2.8 "Employee" shall mean any employee of the Company or a Subsidiary.
2.9 "Exercise Date" shall mean each May 31 and November 30.
2.10 "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.
2.11 "Fair Market Value" of a share of Common Stock as of a given date
shall mean (a) the closing price of a share of Common Stock on the principal