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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 29, 2004
0-15898
(Commission File Number)
______________________________
CASUAL MALE RETAIL GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 04-2623104
(State of Incorporation) (IRS Employer
Identification Number)
555 Turnpike Street, Canton, Massachusetts 02021
(Address of registrant's principal executive office)
(781) 828-9300
(Registrant's telephone number)
______________________________
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 1.01 Entry into a Material Definitive Agreement.
ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation
Under an Off-Balance Sheet Arrangement of a Registrant.
ITEM 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers
On October 29, 2004, the Company completed its acquisition of substantially all
of the assets of Rochester Big & Tall Clothing (the "Rochester Acquisition").
The purchase price was $15 million in cash and the assumption of bank and
subordinated debt of approximately $5 million, in addition to the assumption of
identified operating liabilities such as accounts payable and accrued
liabilities. There is a potential payment over a three-year period of an
additional $4 million, which is subject to an earn-out provision.
In connection with the financing of the Rochester Acquisition, on October 29,
2004, the Company amended its credit facility with Fleet Retail Group, Inc. (the
"Amended Credit Facility"). The Amended Credit Facility continues to principally
provide for a total commitment of $90 million with the ability to issue
documentary and standby letters of credits of up to $20 million. The maturity
date of the Amended Credit Facility was extended to October 29, 2007 and is
subject to prepayment penalties through October 29, 2006. The amendment also
lowered the Company's interest costs under the Amended Credit Facility by
approximately 25 basis points depending on its level of excess availability.
Pursuant to the Amended Credit Facility, the Company also entered into a 3 year
term loan for $7.5 million with Fleet Retail Group, Inc., the proceeds of which
were used in the Rochester Acquisition. Such loan will require principal
payments in the amount of approximately $1.9 million on each of the first two
anniversaries of the loan with the remaining balance due at maturity. The term
loan will accrue interest at the prevailing LIBOR rate plus 5% per annum.
The Company will file the Amended Credit Facility as part of its Quarterly
Report on Form 10-Q for the quarter ended October 30, 2004.
On October 27, 2004, in connection with the Rochester Acquisition, the Board
of Directors of the Company appointed Robert L. Sockolov, the President of
Rochester, as a director of the Company, effective upon the consummation of the
acquisition. Accordingly, on October 29, 2004, Mr. Sockolov became a director
of the Company. Mr. Sockolov will serve until the Company's 2005 annual
meeting of stockholders and until his respective successor has been duly
elected and qualified.
On October 29, 2004, the Company also entered into an employment agreement (the
"Employment Agreement") with Mr. Sockolov.
Under the terms of the Employment Agreement, which will terminate January 31,
2008, Mr. Sockolov will serve as the Chief Executive Officer of the Company's
Rochester division. The Company will pay Mr. Sockolov an annual base salary of
$250,000, subject to annual increases as determined by the Board of Directors or
a committee thereof.
Pursuant to the Employment Agreement, Mr. Sockolov received an option to
purchase 100,000 shares of the Company's common stock, par value $0.01 per
share, at an exercise price of $5.03 per share, the closing price of the
Company's common stock on October 29, 2004. The option vests ratably over a
three year period, with the first one-third vesting on October 29, 2005.
The Employment Agreement provides that in the event Mr. Sockolov's employment is
terminated by the Company for any reason other than "cause" (as defined in the
Employment Agreement) or death, Mr. Sockolov will be entitled to receive his
full compensation and benefits under the Employment Agreement through January
31, 2008.
A copy of the Employment Agreement is attached as Exhibit 10.1 and is
incorporated into this current report by reference.
ITEM 7.01 Regulation FD Disclosure
On November 1, 2004, the Company announced the completion of its acquisition of
substantially all of the assets of Rochester. A copy of this press release is
attached hereto as Exhibit 99.1.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
----------- ------------
10.1 Employment Agreement dated October 29, 2004 between
the Company and Robert L. Sockolov
99.1 Press Release dated November 1, 2004 announcing
Casual Male Retail Group, Inc. completion of its
acquisition of Rochester Big & Tall Clothing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CASUAL MALE RETAIL GROUP, INC.
By: /s/ Dennis R. Hernreich
---------------------------
Name: Dennis R. Hernreich
Title: Executive Vice President
and Chief Financial Officer
Date: November 4, 2004
For Information, Contact:
Company Contact:
Jeff Unger, Investor Relations
(561) 514-0115
Andrew Bard, Weber Shandwick
212-445-8368
Casual Male Retail Group, Inc. Completes Acquisition
of Rochester Big & Tall Clothing
Transaction Positions CMRG as the Leader in Men's Big and Tall Apparel
CANTON, MA., Nov. 1, 2004-- Casual Male Retail Group, Inc. (Nasdaq:
CMRG - News), retail brand operator of Casual Male Big & Tall, the
exclusive retailer of George Foreman's clothing collection, announces
the completion of its previously announced acquisition of Rochester Big
& Tall Clothing ("Rochester"). The purchase price was $15 million in
cash and the assumption of bank and subordinated debt of approximately
$5 million, in addition to the assumption of identified operating
liabilities such as accounts payable and accrued liabilities. There is
a potential payment over a three-year period of an additional $4
million, which is subject to an earn-out provision. Casual Male
financed the transaction with a new term loan from its primary lender
and additional borrowings on its existing credit facility, and had no
impact on the Company's overall liquidity.
Seymour Holtzman, Chairman of Casual Male Retail Group, Inc. said, "The
acquisition of Rochester makes us the clear industry leader in the
rapidly growing men's big and tall apparel industry and we are excited
about the opportunity to grow the Rochester brand. We welcome, Bob
Sockolov, President and Chief Executive Officer of Rochester, to our
Board of Directors and look forward to his keen industry insight and
experience."
"This is an outstanding marriage of two companies in specialty big and
tall apparel. We see an incredible synergy between the Rochester and
Casual Male brands and the opportunity to leverage the brands, which
should accelerate the earnings potential of the Company and build a
stronger enterprise that will benefit our shareholders," said David
Levin, CEO and President of Casual Male.
CMRG, the largest retailer of big and tall men's apparel with retail
operations throughout the United States and Canada, operates 495 Casual
Male Big & Tall stores, the Casual Male e-commerce site, Casual Male
catalog business, 13 Casual Male at Sears-Canada stores, 44 Levi's(r) Outlet
by Designs and Dockers(r) Outlet by Designs stores and, 22 Rochester Big and
Tall stores and direct to consumer business. The Company is headquartered
in Canton, Massachusetts and its common stock is listed on the Nasdaq
National Market under the symbol "CMRG."
This press release contains forward-looking statements within the meaning
of the federal securities laws, including statements about the potential
beneficial effect of the Rochester acquisition on the Company and its
earnings potential. The discussion of forward-looking information
requires management of the Company to make certain estimates and
assumptions regarding the Company's strategic direction and the effect of
such plans on the Company's financial results. The Company's actual
results and the implementation of its plans and operations may differ
materially from forward-looking statements made by the Company in this
press release and elsewhere as a result of numerous factors, including the
operational integration associated with the acquisition and other risks
generally associated with such transactions. The Company encourages
readers to refer to its prior filings with the Securities and Exchange
Commission, including, without limitation, its Current Report on Form 8-K
filed on April 14, 2004, that set forth certain risks and uncertainties
that may have an impact on future results and direction of the Company.
# # #
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (the "Agreement"), made as of this 29th day
of October, 2004, is entered into by Casual Male Retail Group, Inc., a
Delaware corporation with its principal place of business at 555 Turnpike
Street, Canton, Massachusetts (the "Company"), and Robert L. Sockolov,
residing at 611 Washington Street, #2602, San Francisco, California 94111
(the "Employee").
The Company desires to employ the Employee, and the Employee desires to
be employed by the Company. In consideration of the mutual covenants and
promises contained in this Agreement, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged
by the parties to this Agreement, the parties agree as follows:
1. Term of Employment. The Company hereby agrees to employ the
Employee, and the Employee hereby accepts employment with the Company, upon
the terms set forth in this Agreement, for the period commencing on October
29, 2004 (the "Commencement Date") and ending on January 31, 2008 (such
period, as it may be extended, the "Employment Period"), unless sooner
terminated in accordance with the provisions of Section 4.
2. Title; Capacity. The Employee shall serve as Chief Executive
Officer of the Company's Rochester Division. The Employee shall be based at
the Company's Rochester Division headquarters in San Francisco, California.
The Employee shall be subject to the supervision of, and shall have such
authority as is delegated to the Employee by, the Board or such officer of
the Company as may be designated by the Board of Directors of the Company
(the "Board").
The Employee hereby accepts such employment and agrees to undertake the
duties and responsibilities inherent in such position and such other duties
and responsibilities as the Board or its designee shall from time to time
reasonably assign to the Employee. The Employee agrees to devote his entire
business time, attention and energies to the business and interests of the
Company during the Employment Period. The Employee agrees to abide by the
rules, regulations, instructions, personnel practices and policies of the
Company and any changes therein which may be adopted from time to time by the
Company.
3. Compensation and Benefits.
3.1 Salary. The Company shall pay the Employee, in periodic
installments in accordance with the Company's customary payroll practices, an
annual base salary of $250,000 for the one-year period commencing on the
Commencement Date. Such salary shall be subject to increase but not decrease
thereafter as determined by the Board or a committee thereof in its
discretion and shall in any case increase not less than 10% per annum over
the previous year's salary (including for any partial year).
3.2 Fringe Benefits. The Employee shall be entitled to
participate in all bonus and benefit programs, if any, that the Company
establishes and makes available to its senior executives to the extent that
Employee's position, tenure, salary, age, health and other qualifications
make him eligible to participate. The Employee shall be entitled to six
weeks paid vacation per year, to be taken at such times as may be approved by
the Board or its designee.
3.3 Reimbursement of Expenses. The Company shall reimburse the
Employee for all reasonable travel, entertainment and other expenses incurred
or paid by the Employee in connection with, or related to, the performance of
his duties, responsibilities or services under this Agreement, in accordance
with policies and procedures, and subject to limitations, adopted by the
Company from time to time.
3.4 Automobile Allowance. Employee shall be entitled to a car
allowance of seven hundred dollars ($700) per month.
3.5 Stock Option. On the Commencement Date, the Company shall
grant to the Employee an option to purchase one hundred thousand (100,000)
shares of the Company's common stock, par value $.01 per share ("Common
Stock"), under the Company's 1992 Stock Incentive Plan, as amended (the
"Plan"). Such option shall have an exercise price equal to the lower of the
closing price of the Common Stock on the date of execution of the Asset
Purchase Agreement pursuant to which this Agreement is being executed or the
date of execution hereof, at the Employee's option, and shall vest in three
equal consecutive annual installments commencing on the first anniversary of
the Commencement Date and in accordance with the vesting provisions of the
Plan.
3.6 Withholding. All salary, bonus and other compensation
payable to the Employee shall be subject to applicable withholding taxes.
4. Termination of Employment Period. The employment of the Employee
by the Company pursuant to this Agreement shall terminate upon the occurrence
of any of the following:
4.1 Expiration of the Employment Period;
4.2 At the election of the Company, for Cause (as defined
below), immediately upon written notice by the Company to the Employee, which
notice shall identify the Cause upon which the termination is based. For the
purposes of this Section 4.2, "Cause" shall mean (a) (i) the Employee has
engaged in habitual absenteeism to the point where it amounts to abandonment
of his employment, or (ii) the Employee has engaged in dishonesty involving
the Company or its assets or business, or (b) the conviction of the Employee
of, or the entry of a pleading of guilty or nolo contendere by the Employee
to, any crime involving moral turpitude or any felony;
4.3 Upon the death of the Employee;
4.4 The Company may, upon not less than 30 days' prior written
notice, terminate Employee's employment for any reason other than pursuant to
Sections 4.1, 4.2 or 4.3, provided that in the event that the Company
terminates pursuant to this Section 4.4, the Employee shall be entitled to
receive his full compensation and all benefits hereunder for the then
remaining term of the Employment Period in accordance with Section 3 hereof.
In the event that, following such termination, the Company fails to pay any
installment when due and such failure to pay is not cured within 30 days of
receipt by the Company from the Employee of written notice of such failure to
pay, the entire remaining balance due to Employee hereunder shall become
immediately due and payable; provided, however, that, if the Company fails to
pay any installment when due and receives a written notice thereof three (3)
times in any one calendar year, then upon the fourth failure to pay an
installment in such calendar year, the entire remaining balance due to
Employee hereunder shall become immediately due and payable without a cure
period.
5. Effect of Termination.
5.1 At-Will Employment. If the Employment Period expires
pursuant to Section 1 hereof, then, unless the Company notifies the Employee
to the contrary, the Employee shall continue his employment on an at-will
basis following the expiration of the Employment Period. Such at-will
employment relationship may be terminated by either party at any time and
shall not be governed by the terms of this Agreement.
5.2 Payments Upon Termination. In the event the Employee's
employment is terminated pursuant to Section 4.1, 4.2 or 4.3 or in the case
of a voluntary termination by the Employee, the Company shall pay to the
Employee the compensation and benefits otherwise payable to him under
Section 3 through the last day of his actual employment by the Company.
5.3 Survival. The provisions of Sections 6 and 7 shall survive
the termination of this Agreement.
6. Non-Competition and Non-Solicitation.
6.1 Restricted Activities. While the Employee is employed by
the Company and for a period of three (3) years after the termination or
cessation of such employment for any reason, the Employee will not directly
or indirectly anywhere in the world:
(a) Engage in any business or enterprise (whether as owner,
partner, officer, director, employee, consultant, investor, lender or
otherwise, except as the holder of not more than 1% of the outstanding stock
of a publicly-held company) that is engaged in the men's retail big and tall
clothing business anywhere in the world; or
(b) Either alone or in association with others (i) solicit, or
permit any organization directly or indirectly controlled by the Employee to
solicit, any employee of the Company to leave the employ of the Company, or
(ii) solicit for employment, hire or engage as an independent contractor, or
permit any organization directly or indirectly controlled by the Employee to
solicit for employment, hire or engage as an independent contractor, any
person who was employed by the Company at any time during the term of the
Employee's employment with the Company; provided, that this clause (ii) shall
not apply to the solicitation, hiring or engagement of any individual whose
employment with the Company has been terminated for a period of 12 months or
longer.
6.2 Extension. If the Employee violates the provisions of
Section 6.1, the Employee shall continue to be bound by the restrictions set
forth in Section 6.1 until a period of seven (7) years has expired without
any violation of such provisions following the termination or cessation of
Employee's employment with the Company.
6.3 Interpretation. If any restriction set forth in
Section 6.1 is found by any court of competent jurisdiction to be
unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographic area, it shall be
interpreted to extend only over the maximum period of time, range of
activities or geographic area as to which it may be enforceable.
6.4 Equitable Remedies. The restrictions contained in this
Section 6 are necessary for the protection of the business and goodwill of
the Company and are considered by the Employee to be reasonable for such
purpose. The Employee agrees that any breach of this Section 6 is likely to
cause the Company substantial and irrevocable damage which is difficult to
measure. Therefore, in the event of any such breach or threatened breach,
the Employee agrees that the Company, in addition to such other remedies
which may be available, shall have the right to obtain an injunction from a
court restraining such a breach or threatened breach and the right to
specific performance of the provisions of this Section 6 and the Employee
hereby waives the adequacy of a remedy at law as a defense to such relief.
7. Proprietary Information and Developments.
7.1 Proprietary Information.
(a) The Employee agrees that all information, whether or not in
writing, of a private, secret or confidential nature concerning the Company's
business, business relationships or financial affairs (collectively,
"Proprietary Information") is and shall be the exclusive property of the
Company. By way of illustration, but not limitation, Proprietary Information
may include inventions, products, processes, methods, techniques, formulas,
compositions, compounds, projects, developments, plans, research data,
clinical data, financial data, personnel data, computer programs, customer
and supplier lists, and contacts at or knowledge of customers or prospective
customers of the Company. The Employee will not disclose any Proprietary
Information to any person or entity other than employees of the Company or
use the same for any purposes (other than in the performance of his duties as
an employee of the Company) without written approval by an officer of the
Company, either during or after his employment with the Company, unless and
until such Proprietary Information has become public knowledge without fault
by the Employee.
(b) The Employee agrees that all files, letters, memoranda,
reports, records, data, sketches, drawings, laboratory notebooks, program
listings, or other written, photographic, or other tangible material
containing Proprietary Information, whether created by the Employee or
others, which shall come into his custody or possession, shall be and are the
exclusive property of the Company to be used by the Employee only in the
performance of his duties for the Company. All such materials or copies
thereof and all tangible property of the Company in the custody or possession
of the Employee shall be delivered to the Company, upon the earlier of (i) a
request by the Company or (ii) termination of his employment. After such
delivery, the Employee shall not retain any such materials or copies thereof
or any such tangible property.
(c) The Employee agrees that his obligation not to disclose or
to use information and materials of the types set forth in paragraphs (a) and
(b) above, and his obligation to return materials and tangible property, set
forth in paragraph (b) above, also extends to such types of information,
materials and tangible property of customers of the Company or suppliers to
the Company or other third parties who may have disclosed or entrusted the
same to the Company or to the Employee.
7.2 Developments.
(a) The Employee will make full and prompt disclosure to the
Company of all inventions, improvements, discoveries, methods, developments,
software, and works of authorship, whether patentable or not, which are
created, made, conceived or reduced to practice by him or under his direction
or jointly with others during his employment by the Company, whether or not
during normal working hours or on the premises of the Company (all of which
are collectively referred to in this Agreement as "Developments").
(b) The Employee agrees to assign and does hereby assign to the
Company (or any person or entity designated by the Company) all his right,
title and interest in and to all Developments and all related patents, patent
applications, copyrights and copyright applications. However, this
paragraph (b) shall not apply to Developments which do not relate to the
business or research and development conducted or planned to be conducted by
the Company at the time such Development is created, made, conceived or
reduced to practice and which are made and conceived by the Employee not
during normal working hours, not on the Company's premises and not using the
Company's tools, devices, equipment or Proprietary Information. The Employee
understands that, to the extent this Agreement shall be construed in
accordance with the laws of any state which precludes a requirement in an
employee agreement to assign certain classes of inventions made by an
employee, this paragraph (b) shall be interpreted not to apply to any
invention which a court rules and/or the Company agrees falls within such
classes. The Employee also hereby waives all claims to moral rights in any
Developments.
(c) The Employee agrees to cooperate fully with the Company,
both during and after his employment with the Company, with respect to the
procurement, maintenance and enforcement of copyrights, patents and other
intellectual property rights (both in the United States and foreign
countries) relating to Developments. The Employee shall sign all papers,
including, without limitation, copyright applications, patent applications,
declarations, oaths, formal assignments, assignments of priority rights, and
powers of attorney, which the Company may deem necessary or desirable in
order to protect its rights and interests in any Development. The Employee
further agrees that if the Company is unable, after reasonable effort, to
secure the signature of the Employee on any such papers, any executive
officer of the Company shall be entitled to execute any such papers as the
agent and the attorney-in-fact of the Employee, and the Employee hereby
irrevocably designates and appoints each executive officer of the Company as
his agent and attorney-in-fact to execute any such papers on his behalf, and
to take any and all actions as the Company may deem necessary or desirable in
order to protect its rights and interests in any Development, under the
conditions described in this sentence.
7.3 United States Government Obligations. The Employee
acknowledges that the Company from time to time may have agreements with
other parties or with the United States Government, or agencies thereof,
which impose obligations or restrictions on the Company regarding inventions
made during the course of work under such agreements or regarding the
confidential nature of such work. The Employee agrees to be bound by all
such obligations and restrictions which are made known to the Employee and to
take all appropriate action necessary to discharge the obligations of the
Company under such agreements.
7.4 Equitable Remedies. The restrictions contained in this
Section 7 are necessary for the protection of the business and goodwill of
the Company and are considered by the Employee to be reasonable for such
purpose. The Employee agrees that any breach of this Section 7 is likely to
cause the Company substantial and irrevocable damage which is difficult to
measure. Therefore, in the event of any such breach or threatened breach,
the Employee agrees that the Company, in addition to such other remedies
which may be available, shall have the right to obtain an injunction from a
court restraining such a breach or threatened breach and the right to
specific performance of the provisions of this Section 7 and the Employee
hereby waives the adequacy of a remedy at law as a defense to such relief.
8. Other Agreements. The Employee represents that his performance
of all the terms of this Agreement and the performance of his duties as an
employee of the Company do not and will not breach any agreement with any
prior employer or other party to which the Employee is a party (including
without limitation any nondisclosure or non-competition agreement). Any
agreement to which the Employee is a party relating to nondisclosure, non-
competition or non-solicitation of employees or customers is listed on
Schedule A attached hereto.
9. Miscellaneous.
9.1 Notices. Any notices delivered under this Agreement shall
be deemed duly delivered four business days after it is sent by registered or
certified mail, return receipt requested, postage prepaid, or one business
day after it is sent for next-business day delivery via a reputable
nationwide overnight courier service, in each case to the address of the
recipient set forth in the introductory paragraph hereto. Either party may
change the address to which notices are to be delivered by giving notice of
such change to the other party in the manner set forth in this Section 9.1.
9.2 Pronouns. Whenever the context may require, any pronouns
used in this Agreement shall include the corresponding masculine, feminine or
neuter forms, and the singular forms of nouns and pronouns shall include the
plural, and vice versa.
9.3 Entire Agreement. This Agreement constitutes the entire
agreement between the parties and supersedes all prior agreements and
understandings, whether written or oral, relating to the subject matter of
this Agreement.
9.4 Amendment. This Agreement may be amended or modified only
by a written instrument executed by both the Company and the Employee.
9.5 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts
(without reference to the conflicts of laws provisions thereof). Any action,
suit or other legal proceeding arising under or relating to any provision of
this Agreement shall be commenced only in a court of the State of California
(or, if appropriate, a federal court located within California), and the
Company and the Employee each consents to the jurisdiction of such a court.
The Company and the Employee each hereby irrevocably waive any right to a
trial by jury in any action, suit or other legal proceeding arising under or
relating to any provision of this Agreement.
9.6 Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of both parties and their respective successors
and assigns, including any corporation with which, or into which, the Company
may be merged or which may succeed to the Company's assets or business;
provided, however, that the obligations of the Employee are personal and
shall not be assigned by him. In the event the Company assigns its rights
and obligations hereunder, the Company and its assignee shall have joint and
several liability with respect to the Company's obligations hereunder.
9.7 Waivers. No delay or omission by the Company in exercising
any right under this Agreement shall operate as a waiver of that or any other
right. A waiver or consent given by the Company on any one occasion shall be
effective only in that instance and shall not be construed as a bar or waiver
of any right on any other occasion.
9.8 Captions. The captions of the sections of this Agreement
are for convenience of reference only and in no way define, limit or affect
the scope or substance of any section of this Agreement.
9.9 Severability. In case any provision of this Agreement
shall be invalid, illegal or otherwise unenforceable, the validity, legality
and enforceability of the remaining provisions shall in no way be affected or
impaired thereby.
THE EMPLOYEE ACKNOWLEDGES THAT HE/SHE HAS CAREFULLY READ THIS AGREEMENT
AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS IN THIS AGREEMENT.
[Remainder of Page Has Been Intentionally Left Blank]
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year set forth above.
CASUAL MALE RETAIL GROUP, INC.
By: /s/ David A. Levin
Name: David A. Levin
Title: President and Chief Executive
Officer
EMPLOYEE
/s/ Robert L. Sockolov
Robert L. Sockolov
SCHEDULE A
Prior Agreements
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