EXHIBIT 10.28
FIFTEENTH AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
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THIS AGREEMENT, entered into as of the 12th day of November, 1998
between JG INDUSTRIES, INC.("JG"), an Illinois Corporation, XXXXXXXXX'X
DEPARTMENT STORES, INC. ("Xxxxxxxxx'x"), an Illinois Corporation (collectively,
the "Employer"), and XXXXXXX XXXXXXX (the "Employee").
WHEREAS, Employee has been employed by Employer in an executive
capacity pursuant to an Amended and Restated Employment Agreement dated as of
the first day of June, 1983 as amended (the "Employment Agreement"); and
WHEREAS, Employer and Employee desire to further amend the Employment
Agreement in certain respects as hereinafter stated;
ACCORDINGLY, the Employment Agreement is hereby amended and restated in
the following respect;
1. New Termination Date. The Employment Period shall terminate on
January 31, 2000.
2. Base Compensation. Paragraph 3(a) is deleted in its entirety and
the following is substituted in its place and stead:
"(a) Base Compensation. Effective January 31, 1999 he shall
receive a salary for the Employment Period based upon an annual salary
of $125,000 ("Base Compensation") payable in monthly or more frequent
installments in accordance with Employer's remuneration policy
respecting executives."
3. Effect of Amendment. All other paragraphs of the Employment
Agreement, as heretofore amended, shall remain unchanged and shall continue in
full force and effect.
IN WITNESS WHEREOF, the Employee and the Employer have executed this
Fifteenth Amendment to Amended and Restated Employment Agreement as of the date
first above written.
/s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx
JG INDUSTRIES, INC.
By: /s/ Xxxxxxxx Xxxxxx
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Its: President
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XXXXXXXXX'X DEPARTMENT STORES, INC.
By: /s/ Xxxxxx Xxxxxxxxx
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Its: Chairman
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