Delaware | 1-32227 | 20-0486586 |
(State or other jurisdiction | (Commission | (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
One Cabela Drive, Sidney, Nebraska | 69160 |
(Address of principal executive offices) | (Zip Code) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Term | Through August 31, 2017. |
Position and Duties | Strategic advisor. |
Base Salary | |
Through August 31, 2017 | Annual base salary of $525,000. |
Bonuses | |
Fiscal 2015 | Minimum bonus opportunity of $131,250, target bonus opportunity of $525,000, and maximum bonus opportunity of $787,500 based on the Company’s achievement of applicable business performance objectives. |
After Fiscal 2015 | None. |
Obligations of Company upon Termination | |
Good Reason, other than Cause, Disability | Subject to Mr. Linneman’s execution of a release, upon termination of Mr. Linneman’s employment by the Company without cause or by Mr. Linneman for good reason or as a result of Mr. Linneman’s death or disability, Mr. Linneman is entitled to: • Accrued and unpaid obligations (including base salary and unreimbursed business expenses); • Severance equal to the amount of base salary Mr. Linneman would have received through the end of the term of the Employment Agreement; and • Accelerated vesting of outstanding equity awards. |
Cause, other than for Good Reason | In the event the Company terminates Mr. Linneman’s employment for cause or Mr. Linneman terminates employment without good reason, Mr. Linneman is entitled to accrued, unpaid base salary, unreimbursed business expenses, and other items earned by and owed to Mr. Linneman. |
CABELA'S INCORPORATED | ||||
Dated: | August 14, 2015 | By: | /s/ Ralph W. Castner | |
Ralph W. Castner | ||||
Executive Vice President and Chief Financial Officer |