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American Eagle Discloses Robert Hanson's Severance Package

The brand has written Hanson a check for $560,000 to cover the final details of his severance package.

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Robert Hanson

Robert Hanson

Photo By Steve Eichner

HANSON IN FLIGHT: American Eagle Outfitters Inc. has written former chief executive officer, Robert Hanson, a check for $560,000 to cover the final details of his severance package. Hanson, who gave up his duties as ceo and succeeded by chairman Jay Schottenstein on Jan. 22, was entitled to two years of his annual base salary of $1.03 million a year based on his termination without cause and would also be eligible for a pro-rated portion of his annual cash bonus of up to 260 percent of his annual salary, should maximum performance targets be met. The additional amount covers items such as deferred compensation and stock options, relocation and housing assistance and professional fees related to his departure. Hanson signed on as ceo of American Eagle in November 2011 and succeeded Jim O’Donnell the following February. Details were in a Thursday filing with the Securities and Exchange Commission.