July 27, 2010
Exhibit 10.5
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July 27, 2010 |
Xx. Xxxxx X. Xxxxxxx
Senior Executive Vice President, Chief Financial Officer and
Chief Administrative Officer
Rite Aid Corporation
00 Xxxxxx Xxxx
Xxxx Xxxx, XX 00000
RE: Agreement dated as of September 24, 2008 (the “Agreement”) by and between Rite Aid Corporation (the “Company”) and Xxxxx X. Xxxxxxx (the “Executive”)
Dear Xxxxx:
On June 21, 2010, the Compensation Committee of the Board of Directors of the Company approved changes to the above referenced Agreement that: (i) delete the term “$200,000” in the first sentence of Section 4.6 of the Agreement and replace it with the phrase “$67,000 per year”; and (ii) delete the phrase “for a period of up to thirty-six (36) months from the Effective Date” in the first sentence of Section 4.6 of the Agreement. The balance of Section 4.6 remains unchanged.
If you are in agreement with these two changes in the above paragraph, please sign both copies of this letter below where indicated, returning one copy to me and retaining one copy for your records.
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Sincerely, |
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Rite Aid Corporation |
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By: |
/s/ XXXX X. XXXXXXXXX |
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Xxxx X. Xxxxxxxxx |
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Exec. Vice President & General Counsel |
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Agreed: |
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/s/ XXXXX X. XXXXXXX |
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Xxxxx X. Xxxxxxx |
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July 27, 2010 |
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