Exhibit 10.2
NORTHLAND
CRANBERRIES, INC. XXXX XXXXXXXXXXX
CHAIRMAN & CEO
April 21, 2000
Xx. Xxxxx X. Xxxxxxxxx
0000 Xxxx Xxxxx Xxxxx
Xxxxxxxxx Xxxxxx, XX 00000
Dear Xxxxx:
This letter will confirm the mutual agreement between you and Northland
Cranberries, Inc. (the "Company") to terminate the Key Executive Employment and
Severance Agreement, dated as of December 7, 1998, by and between you and the
Company (the "Agreement"), on the terms and conditions set forth herein. The
Company and you hereby agree that the Agreement will be terminated and that
neither you nor the Company will have any further rights or obligations
thereunder effective as of the day prior to the consummation of a Change in
Control of the Company (as defined in the Northland Cranberries, Inc. Severance
and Stay Bonus Plan (the "Plan")) in exchange for the benefits provided to you
under the Plan as adopted by the Board of Directors of the Company effective
April 14, 2000. If the Plan is amended in any way adverse to your interests or
is terminated prior to a Change in Control of the Company, then this letter
agreement shall be null and void.
Very truly yours,
/s/ Xxxx Xxxxxxxxxxx
Xxxx Xxxxxxxxxxx
Chairman and CEO
Agreed to and Accepted this 21st day of April, 2000
/s/ Xxxxx X. Xxxxxxxxx
----------------------------
Xxxxx X. Xxxxxxxxxx
000 Xxxxx Xxxxxx Xxxxx * X.X. Xxx 0000 * Xxxxxxxxx Xxxxxx, XX 00000-0000 *
000-000-0000 * Fax 000-000-0000
