XXXXXXX FOOD AND DRUG COMPANY
000 0xx Xxxxxx, X.X.
Xxxxx Xxxxx, Xxxxxxx 00000
November 25, 1996
Xxxxx X. Xxxxxx
c/o Xxxxxxx Xxxxxx & Co.
00000 Xxxxx Xxxxxx Xxxxxxxxx
Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Re: Extension and Modification to Consulting Agreement made and
entered into as of the 1st day of July, 1991 by and between
Xxxxxxx Food and Drug Company and Xxxxx X. Xxxxxx, as extended
and modified by letters dated April 29, 1993, October 28, 1993,
November 21, 1994 and November 20, 1995
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Dear Xxxx:
Reference is made to that certain Consulting Agreement made and
entered into as of the 1st day of July, 1991 by and between Xxxxxxx Food and
Drug Company (the "Company") and yourself, as extended and modified by those
certain letters dated April 29, 1993, October 28, 1993, November 21, 1994 and
November 20, 1995 (collectively, the "Agreement"). This letter is intended to
confirm our oral agreement to extend the term of the Agreement for an additional
six month term, from July 1, 1996 through December 31, 1996. The terms of the
extended Agreement are to be identical to the terms of the prior Agreement,
including, in particular, the reduced consulting fee of $75,000 per annum;
provided, however, that the Company and you hereby agree to terminate (as of
November 30, 1996) each party's obligations (previously specified in Section
3(c) of the Agreement) regarding certain medical benefits to be provided to you.
Could you please confirm our agreement regarding the extended
Agreement by executing this letter where indicated below and returning the
executed copy to my attention at the address above.
Very truly yours,
XXXXXXX FOOD AND DRUG COMPANY
/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx
Chairman, President and Chief Executive Officer
ACKNOWLEDGED AND ACCEPTED:
/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
