NEW YORK, United States — Abercrombie & Fitch Co. Chief Executive Officer Mike Jeffries got a new contract with the teen-apparel retailer amid weakening earnings and a shareholder's call for him to be replaced.

The new agreement, which goes into effect after Jeffries’s current pact expires on Feb. 1, pays a base salary of $1.5 million a year with long-term incentive awards at a target value of $6 million and annual bonuses of as much as $4.5 million, the company said in a filing today. Jeffries also has access to the company’s aircraft for as much as $200,000 in personal travel.

Jeffries, 69, has been struggling to reconnect with the chain’s customers, who have become less enamored of its fashions and half-naked models, leading to three straight quarters of sales declines. Abercrombie investor Engaged Capital LLC has urged the company to start searching for a new CEO and consider selling itself to private-equity buyers.

The shares of the New Albany, Ohio-based company slipped 4 percent to $33.49 at 11:03 a.m. in New York. The stock fell 27 percent this year through the close of trading Dec. 6, compared with a 27 percent gain in the Standard & Poor’s 500 Index.

The company also said today in a statement that it will recruit executives to the new position of brand president for each of its Abercrombie & Fitch, Abercrombie kids and Hollister lines as part of its succession planning. Leslee Herro, executive vice president of merchandise planning, inventory management and brand senses, will retire in the spring, the company said.

Engaged Capital, which said it owns less than 1 percent of Abercrombie’s shares, last week said in a letter to the board that there was “no credible successor” to Jeffries inside the company.

Abercrombie last month said full-year earnings would be as much as $1.50 a share on an adjusted basis, excluding charges, trailing analysts’ $1.97 average estimate.

By Lindsey Rupp; Editors: Kevin Orland, Niamh Ring, Robin Ajello