Joe’s Jeans Inc. has agreed to pay creative director Joe Dahan $9.2 million in place of earn-out allowances tied to the company’s gross profit.
The sum will be divided into weekly installments stretched over a 33-month period ending in November 2015. It replaces a provision dating back to the 2007 acquisition of Dahan’s company, JD Holdings Inc., by a subsidiary of Joe’s under which Dahan received a percentage of the company’s gross profit over a 10-year period.
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