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Quotes & Info
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| CACH > SEC Filings for CACH > Form 8-K on 5-Mar-2009 | All Recent SEC Filings |
5-Mar-2009
Results of Operations and Financial Condition, Change in Directors or Principal Officer
On March 3, 2009, Cache, Inc. (the "Company") issued a press release (the "Press Release") announcing its financial results for the thirteen and fifty-two week periods ended December 27, 2008 and introducing new guidance for the first quarter of fiscal 2009. The Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
On February 24, 2009, the Company entered into a new three-year employment agreement with Thomas E. Reinckens, the Company's Chief Executive Officer. Under the agreement, Mr. Reinckens' annual salary during 2009 is $600,000. This annual salary will be reviewed on an annual basis and can be adjusted based on Mr. Reinckens' performance, the operating results of the Company, the competitive compensation landscape and other factors determined to be relevant by the Company's Board of Directors. Mr. Reinckens is also eligible to participate in the Company's bonus and stock option programs and is entitled to such performance-based bonuses as the Board of Directors of the Company may from time to time determine in its discretion.
Pursuant to the terms of the employment agreement, if the Company terminates Mr. Reinckens' employment during the term and prior to a change in control of the Company, except in certain limited circumstances, then until Mr. Reinckens accepts other employment the Company is required to continue to pay him the full balance of his compensation through the term of the agreement, mitigated by future employment. In the event that Mr. Reinckens is terminated following a change in control of the Company, or he resigns during the period beginning 90 and ending 180 days after the effective date of the change in control, he is generally entitled to receive a one-time payment equal to 24 months of his salary then in effect. The agreement contains covenants by Mr. Reinckens not to solicit employees of the Company for two years following termination of his employment, and covenants by Mr. Reinckens not to compete with the Company for one year following termination of employment without compensation or during the period he is entitled to be paid as described above.
ITEM 9.01 EXHIBITS
99.1 Press release announcing financial results for the thirteen and fifty-two
week periods ended December 27, 2008 and introducing new guidance for the
first fiscal quarter of 2009.
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