ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS;
COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
Liz Claiborne, Inc. (the "Company") is filing this Current Report on Form 8-K to
report that Michael Scarpa, Chief Operating Officer, will leave the company
effective November 30, 2008. In addition to the compensation and benefits to
which he is entitled pursuant to the Executive Severance Agreement dated
March 1, 2006 between the Company and Mr. Scarpa, Mr. Scarpa will receive a
grant of 18,500 restricted shares of Company common stock, which will vest one
year from the grant date, subject to forfeiture.
In addition, Andrew Warren, the Company's Chief Financial Officer, has added the
title of Executive Vice President. In connection with this promotion, the
Compensation Committee of the Company's Board Of Directors approved an increase
in Mr. Warren's annual salary from $575,000 to $700,000.
The press release announcing these matters (which is attached hereto as
Exhibit 99.1) is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99.1 Press Release
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