Exhibit 10.10
AGREEMENT TO EXTEND TERM OF SEVERANCE BENEFITS AGREEMENT
This Agreement to Extend Term of Severance Benefits Agreement
("Agreement") is entered into this 14th day of October, 2000, by and between
STAPLES, INC., a Delaware corporation ("Staples"), whose principal place of
business is 000 Xxxxxxx Xxxxx, Xxxxxxxxxx, XX 00000, on the one hand, and Xxxx
Xxxxxxx, an individual currently employed as an officer of Staples ("Xxxxxxx"),
whose home address is 00 Xxxxxx Xxxx, Xxxxx, XX 00000, on the other.
WHEREAS, Xxxxxxx and Staples (collectively "the parties") executed a
Severance Benefits Agreement dated September 9, 1996;
WHEREAS, the term of the above-referenced Severance Benefits Agreement
expired on May 31, 2000; and
WHEREAS, the parties wish to reinstate and extend the term of such
Severance Benefits Agreement;
NOW, THEREFORE, in consideration of the mutual promises and statements
contained herein and other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the parties hereby agree to reinstate
the Severance Benefits Agreement in its entirely; provided, however, that the
term of such Severance Benefits Agreement shall be extended and continue in full
force and effect until such time as Xxxxxxx or Staples has delivered to the
other 90-days advance written notice of his or its election to terminate this
Agreement.
Agreed to by the parties:
/s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Xxxx
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Xxxx Xxxxxxx Staples, Inc.
Dated: 10/14/00 Dated: 10/10/00
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