EXHIBIT 10.18
August 22, 1995
Xxxxxx X. Xxxxxx
Chairman of the Board and Chief Executive Officer
Xxxx Xxxxxx, Inc.
0000 Xxxxxxx Xxxxxx
Xxxxxx, XX 00000-0000
Re: Death Benefits Pursuant to Amended and Restated Employment
Agreement
Dear Xxxxxx:
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 June 8, 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 Paragraph 10(d) of your
Amended and Restated Employment Agreement 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. Xxxxxx
Xxxxxx X. Xxxxxx
Chairman of the Board and Chief Executive Officer
