Coach 2004 Annual Report Download - page 120

Download and view the complete annual report

Please find page 120 of the 2004 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 134

  • 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
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

_____________________________
Reed Krakoff
3
EXHIBIT A
[EMPLOYMENT AGREEMENT]
4
COACH
2000 STOCK INCENTIVE PLAN
EXTENSION OPTION GRANT NOTICE AND AGREEMENT
Reed Krakoff
Coach, Inc. (the "COMPANY") is pleased to confirm that you have been
granted a stock option (the "OPTION"), effective as of August 22, 2005 (the
"GRANT DATE"), as provided in this agreement (the "Agreement"). The Option
evidenced by this Agreement is the "EXTENSION OPTION" as defined in that certain
Employment Agreement entered into by and between you and the Company effective
as of June 1, 2003 (as amended as of the Grant Date, the "EMPLOYMENT
AGREEMENT").
1. OPTION RIGHT. Your Option is to purchase, on the terms and conditions
set forth below, the following number of shares (the "OPTION SHARES") of the
Company's Common Stock, par value $.01 per share (the "COMMON STOCK"), at the
exercise price specified below (the "EXERCISE PRICE").
Number of Option Shares Exercise Price Per Option Share
----------------------- -------------------------------
Shares Granted 1,686,581 $32.37
2. OPTION. This Option is a non-qualified stock option that is intended to
conform in all respects with the Company's 2000 Stock Incentive Plan (the
"PLAN"), a copy of which will be supplied to you upon your request, and the
provisions of which are incorporated herein by reference. This Option is not
intended to qualify as an incentive stock option within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended.
3. EXPIRATION DATE. This Option expires on the tenth (10th) anniversary of
the Grant Date (the "EXPIRATION DATE"), subject to earlier expiration upon your
death, disability or other termination of employment, as provided in Section 5
below.
4. VESTING. This Option may be exercised only to the extent it has vested.
Subject to Section 5 below, if you are continuously employed by the Company or
any of its affiliates (collectively, the "COACH COMPANIES") from the Grant Date
until (a) August 22, 2009, this Option will vest with respect to 25% of the
Option Shares as of such date, (b) August 22, 2010, this Option will vest with
respect to an additional 25% of the Option Shares as of such date, and (c)
August 22, 2011, this Option will vest with respect to the remaining 50% of the
Option Shares as of such date.
5. TERMINATION OF EMPLOYMENT.
(a) DEATH OR DISABILITY. If you cease active employment with the
Company because of your death or "DISABILITY" (as defined in the
Employment Agreement), any portion of this Option that is not vested and
exercisable as of the date of such termination shall thereupon be
forfeited; provided, that in the alternative the Human Resources and