TLRD Tailored Brands Inc

Jack Calandra, the Company’s current Executive Vice President, Chief Financial Officer and Treasurer, will be leaving the Company. This event occurred on July 15, 2020. Mr. Calandra will remain employed by the Company through July 31, 2020 and, in accordance with the terms of his separation agreement, will receive a lump sum of $600,000 upon his departure, which is the equivalent of one year’s base salary. Pursuant to his separation agreement, Mr. Calandra provides a full release of all claims related to his employment with and/or separation from the Company and agrees not to work for certain named competitors of the Company or solicit employees from the Company for a period of twelve months following his termination date. The Company has no immediate plans to replace Mr. Calandra. In the near term, Mr. Calandra’s responsibilities will be divided between Dinesh Lathi, President and Chief Executive Officer, and Holly Etlin, a Managing Director at AlixPartners who has been appointed to a newly created role of Chief Restructuring Officer with the Company.

Effective August 2, 2020, John Vazquez, age 43, has been appointed Chief Accounting Officer and Treasurer of the Company and will also serve as the Company’s principal financial officer. Mr. Vazquez joined the Company in July 2013 as Director- Financial Reporting and was promoted to Vice President-Financial Reporting in January 2015. Mr. Vazquez also became responsible for the Company’s corporate finance and treasury functions in March 2016. Prior to joining the Company, Mr. Vazquez was director of financial reporting for Chico’s FAS, Inc. for ten years and a senior auditor with Ernst and Young LLP and Arthur Andersen LLP. Mr. Vazquez is a Certified Public Accountant licensed in the state of Florida.

There is no arrangement or understanding between Mr. Vazquez and any other persons pursuant to which Mr. Vazquez was selected as an officer. Neither Mr. Vazquez nor any related person of Mr. Vazquez has a direct or indirect material interest in any existing or currently proposed transaction to which the Company is or may become a party. Mr. Vazquez is not related to any of the executive officers or directors of the Company.

Mr. Vazquez will receive an annual base salary of $250,000. His 2020 annual incentive and long term incentives will be determined in due course by the Company’s Compensation and Organizational Development Committee at the same time the determination is made for other executives of the Company. Mr. Vazquez also participates in the Company’s Vice President Change in Control Severance Plan.

The foregoing summary description of Mr. Calandra’s separation agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of his separation agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated by reference herein.