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| PERY > SEC Filings for PERY > Form 8-K on 6-Aug-2009 | All Recent SEC Filings |
6-Aug-2009
Entry into a Material Definitive Agreement, Change in Directors or
Effective August 3, 2009, Perry Ellis International, Inc. (the "Company")
entered into a severance agreement and general release with Mr. Paul Rosengard
pursuant to which Mr. Rosengard's employment as the Company's Group President,
Perry Ellis and Premium Brands was terminated. In accordance with the severance
agreement and in exchange for releasing the Company of all claims, Mr. Rosengard
received $262,500. The severance agreement also provided that the employment
agreement dated October 30, 2007 between the Company and Mr. Rosengard would be
terminated, except for the provisions prohibiting Mr. Rosengard from
(i) entering in to any employment or other agency relationship with certain of
the Company's competitors for a period of six months following his separation;
(ii) directly or indirectly, without the Company's express written permission,
for a period of 12 months after his separation from the Company, employing
anyone who is a consultant or employee of the Company at the time of his
separation from the Company or who was a consultant or employee during the
six-month period prior to his separation from the Company; and (iii) disclosing
or utilizing any trade secrets, confidential information, or other proprietary
information acquired during the course of his service with the Company and/or
its related business entities, which provisions will remain in full force and
effect.
The foregoing description is subject to the complete terms of the severance agreement, which is filed as Exhibit 10.1 to this Form 8-K.
See item 1.01 above with respect to Mr. Paul Rosengard's termination as the Company's Group President, Perry Ellis and Premium Brands.
(c) Exhibits.
10.1 Severance Agreement and General Release by and between Perry Ellis
International, Inc. and Paul Rosengard
99.1 Press Release dated August 5, 2009
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