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FOSL > SEC Filings for FOSL > Form 8-K on 1-Nov-2012All Recent SEC Filings

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Form 8-K for FOSSIL INC


1-Nov-2012

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

As previously announced, Mark Quick retired from his position as the Vice Chairman of Fossil, Inc. (the "Company") and was appointed to the Company's Board of Directors effective October 26, 2012.

On October 26, 2012, the Company entered into a First Amendment to the Restricted Stock Unit Award Under the 2004 Long-Term Incentive Plan of Fossil, Inc. (the "RSU Amendment") and a First Amendment to the Stock Appreciation Rights Award Under the 2004 Long-Term Incentive Plan of Fossil, Inc. (the "SAR Amendment") for Mr. Quick.

Under each of the Restricted Stock Unit Award (the "RSU Award") and the Stock Appreciation Rights Award (the "SAR Award") granted to Mr. Quick on March 15, 2008, unvested restricted stock units would have been forfeited, and unvested stock appreciation rights would have been terminated, in the event that Mr. Quick ceased to be employed by the Company or any of its subsidiaries. The RSU Amendment and the SAR Amendment amend the RSU Award and SAR Award, respectively, to permit continued vesting of the restricted stock units and stock appreciation rights if Mr. Quick continuously serves as an employee or nonemployee member of the Company's Board of Directors.

In addition, effective October 26, 2012, the Company began paying a portion of Mr. Quick's COBRA premiums for medical insurance. The amount paid by the Company is the portion of the premium that is in excess of the premium Mr. Quick paid prior to his retirement as the Company's Vice Chairman. The Company agreed to pay a portion of these premiums until October 26, 2013.

The foregoing descriptions of the RSU Amendment and SAR Amendment are qualified in their entirety by reference to Exhibits 10.1 and 10.2, which are incorporated herein by reference and filed as exhibits hereto.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Number                            Description of Exhibit
10.1      First Amendment to the Restricted Stock Unit Award Under the 2004
          Long-Term Incentive Plan of Fossil, Inc. for Mark Quick, dated as of
          October 26, 2012.
10.2      First Amendment to the Stock Appreciation Rights Award Under the 2004
          Long-Term Incentive Plan of Fossil, Inc. for Mark Quick, dated as of
          October 26, 2012.


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