Erik Rebich resigned as vice president, general counsel and secretary
of Crocs, Inc., effective Dec. 31. Effective Jan. 1, Daniel P. Hart,
the company’s current executive vice president, administration and
corporate development was appointed as executive vice president, chief
legal and administrative officer and secretary of the company.
In connection with Rebich’s resignation, the company and Rebich entered
into a Confidential Separation Agreement and General Release dated
December 31, 2009. Pursuant to the Separation Agreement, the company
will pay Rebich $375,000, which equates to one year’s annual salary and
target 2009 bonus. In addition, the company agreed to accelerate the
vesting of 33,334 unvested shares of restricted stock held by Rebich.
Rebich will also be entitled to participate in certain health insurance
programs applicable to officers who retire from the company. The
Separation Agreement provides for a general release and waiver of all
claims held by Rebich relating to the company and an agreement by
Rebich to treat certain information regarding the company as
confidential. Rebich has also agreed to serve as a consultant to the
company to provide transition assistance through December 31, 2010,
unless the consulting relationship is terminated by the Company prior
thereto
