EXHIBIT 10.22
August 22, 1995
Xxxxxx X. Xxxxxxx
President and Chief Operating Officer
Xxxx Stores, Inc.
0000 Xxxxxxx Xxxxxx
Xxxxxx, XX 00000-0000
Re: Death Benefits Pursuant to Amendment to Employment Agreement
Dear Xxx:
On behalf of the company, this letter confirms that the
compensation and benefits upon death ("Death Benefits") as set
forth in the Employment Agreement between you and the company,
dated March 15, 1994, will remain in full force and effect until
the application for your life insurance policy has been approved
and said policy issued. As of the effective date of this insurance
policy, these Death Benefits will cease to exist and, in the event
of your death, the terms of the Amendment to Employment and Stock
Grant Agreements, effective as of March 16, 1995, will control.
You agree that you will promptly provide the company a copy of the
insurance policy once it is effective.
Very truly yours,
XXXX STORES, INC.
By: /s/X. Xxxxx
Xxxxxx X. Xxxxx
Chairman of the Compensation Committee
I agree to and accept the terms set forth in this letter.
/s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
President and Chief Operating Officer
