By  on March 4, 2009

Saks Inc. wants a long-term relationship with Ron Frasch.

Frasch, who joined Saks in 2004 and has been its president and chief merchandising officer for two years, stands to collect $3 million in cash awards if he remains with the company until 2014. The human resources and compensation committee of Saks’ board voted to give him the money, contingent upon his continued employment, in three equal installments on the third, fourth and fifth anniversaries of the grant, according to a Form 8-K filed with the Securities and Exchange Commission Monday.

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