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AEO > SEC Filings for AEO > Form 8-K on 27-Feb-2014All Recent SEC Filings




Change in Directors or Principal Officers

ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As described in the current report on Form 8-K previously filed by American Eagle Outfitters, Inc. (the "Company") with the U.S. Securities and Exchange Commission on January 28, 2014, Robert L. Hanson, formerly the Chief Executive Officer of the Company, departed from the Company on January 22, 2014. On February 22, 2014, the release of claims executed by Mr. Hanson in connection with his departure as a condition to his receipt of certain severance payments and benefits to which he is entitled under his employment agreement with the Company became effective. As additional inducement for Mr. Hanson to execute and not revoke the release of claims, the Company has agreed to provide Mr. Hanson with additional severance compensation in the aggregate amount of approximately $560,000 consisting of (i) the vesting of certain deferred compensation, stock options and restricted stock units, (ii) the continued ability to vest in certain performance shares, with the amount vesting, if any, dependent on Company performance through the applicable performance period, (iii) relocation and housing assistance, and (iv) legal and professional fees in connection with his departure.

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