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Exhibit 10.14
AGREEMENT
This Agreement is made and entered into by The Caldor Corporation ("Caldor")
and XXXXX XXXXXX (Executive").
Caldor agrees to pay to Executive the gross sum of $250,000.00 as a special
bonus. Executive acknowledges receipt of such bonus.
In consideration for Caldor's payment of a special bonus, Executive agrees to
pay back to Caldor the amount of the bonus (net of taxes) in the event that
Executive's employment is terminated either voluntarily or otherwise for cause
within two years of the date of this agreement. The amount agreed to be paid
back is as follows:
One hundred percent (100%) of special bonus if employment
terminates within one (1) year from date of this agreement.
Fifty percent (50%) of special bonus if employment terminates
within two (2) years (but more than one year) from date of this
agreement.
Executive agrees that, in the event Executive's employment is terminated within
the above designated period and the relevant amount of the bonus is not repaid
to Caldor by Executive, in whole or in part, then Caldor may offset the amount
owed against any payments due to Executive from Caldor, including, without
limitation, salary or bonus. However, such right of offset shall not be the
sole or exclusive means of recovery of repayments owed to Caldor by Executive,
and Caldor, or its assigns shall retain all other rights and remedies which may
be available.
Executive acknowledges that nothing in this Agreement constitutes an agreement
to employ Executive for any specified period of time or otherwise affects
Caldor's right to terminate Executive's employment.
Executive further acknowledges that he/she has carefully read this Agreement,
that he/she understands its terms, and that he/she voluntarily signs his/her
name to it.
/s/ Xxxxx Xxxxxx October 3, 1997
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Xxxxx Xxxxxx Date
THE CALDOR CORPORATION
By /s/ Xxxxxx X Xxx Oct 3, 1997
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Date
