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SKX > SEC Filings for SKX > Form 8-K on 3-May-2013All Recent SEC Filings

Show all filings for SKECHERS USA INC | Request a Trial to NEW EDGAR Online Pro



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.

Skechers U.S.A., Inc. (the "Company") commenced the Skechers U.S.A., Inc. Deferred Compensation Plan (the "Plan"), effective as of May 1, 2013. The Plan is being maintained by the Company primarily for the purpose of providing a means for deferral of compensation to a select group of employees, including all of the Company's named executive officers, who are limited in their participation under the Company's 401(k) plan.

Pursuant to the Plan, participants may defer receipt of a portion of their respective cash compensation and elect to have such amounts paid to them (or their beneficiaries in the event of death) upon retirement, termination of employment, death, disability or some other date chosen by the respective participants, in each case, consistent with the terms of the Plan. The Plan will not be funded by the Company, and payments under the Plan will be made by the Company to each participant as permitted by law and in accordance with the participant's election decisions. In addition to providing a means to defer compensation for payment at a later date, the Plan also provides for discretionary contributions that may be made by the Company to the participants. The amounts, timing and vesting of these discretionary contributions will be determined in the sole discretion of the administrator of the Plan, which is the Compensation Committee of the Company. The Plan is being implemented, administered and interpreted consistent with Section 409A of the Internal Revenue Code of 1986, as amended.

Item 9.01 Financial Statements and Exhibits.

10.1 Skechers U.S.A., Inc. Deferred Compensation Plan

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