EXHIBIT 10.2(b)
AMENDING AGREEMENT
This agreement made March 10, 1997 between The Bon-Ton Stores, Inc.
("Company") and Xxxxxxx Xxxxxxxx ("Executive").
WHEREAS, Company and Executive entered an employment agreement dated August
18, 1995 (the "Employment Agreement"); and
WHEREAS, pursuant to the provisions of the Employment Agreement, Company
made a $750,000 loan to Executive and Executive issued a note to Company to
evidence such loan (the "Note"); and
WHEREAS, Company and Executive have agreed to modify the Note as
hereinafter provided.
NOW THEREFORE, in consideration of $10 each paid to the other, Company and
Executive agree as follows:
The Note is hereby amended to provide that the $375,000 payment due
thereunder on April 30, 1997 shall be due and payable on December 30, 1997
provided, however, that if Executive remains employed by Company pursuant to the
terms of the Employment Agreement through December 30, 1997, or if Executive is
terminated by Company without Cause (as defined in the Employment Agreement) or
does not voluntarily terminate his employment other than due to a Change in
Control (as defined in the Employment Agreement) prior to December 30, 1997,
then the $375,000 principal of the Note due on December 30, 1997 will be deemed
forgiven.
In Witness whereof, the parties hereto have duly executed this Amending
Agreement as of the date first above written.
THE BON-TON STORES, INC.
By /s/ M. Xxxxxx Xxxxxxxxxx
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M. Xxxxxx Xxxxxxxxxx
Chairman
/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx Xxxxxxxx
