FIELDCREST XXXXXX, INC.
Inter-Office Correspondence
July 12, 1993
PERSONAL & CONFIDENTIAL
Xx. X. X. Xxxx
Eden
RE: Employee Retention Agreement
Dear Xxx:
Fieldcrest Xxxxxx, Inc. (the "Company") recognizes that, as
is the case with many publicly-held corporations, the possibility
of a change in control may exist and that such possibility, and
the uncertainty and questions which it may raise among key
personnel, may result in the departure or distraction of key
personnel to the detriment of the Company, its stockholders and
its customers.
The Board of Directors of the Company (the "Board") has
determined that appropriate steps should be taken to reinforce
and encourage the continued attention and dedication of the
Company's key personnel, including yourself, to their assigned
duties without distraction in the face of potentially disturbing
circumstances arising from the possibility of a change in control
of the Company.
In order to induce you to remain in its employ, the Company
agrees that you shall receive the severance benefits set forth in
this letter agreement (the "Agreement") in the event your
employment with the Company is terminated under the circumstances
described below subsequent to a "Change in Control" of the
Company (as defined below).
