Exhibit 10.28


 


IRV NEGER


TERMS OF EMPLOYMENT


 


	
  Title:

  	
   

  	
  Sr. Vice President – Softlines

  
	
   

  	
   

  	
   

  
	
  Weekly Salary:

  	
   

  	
  $4,326.92 per week ($225,000 per annum)

  
	
   

  	
   

  	
   

  
	
  Starting Date:

  	
   

  	
  First week of September, 2000

  
	
   

  	
   

  	
   

  
	
  Bonus:

  	
   

  	
  Participation in the Target Bonus Plan with
  an opportunity to earn 30% of fiscal year base salary in each fiscal year
  beginning with the fiscal year starting September 2, 2001, subject to
  all terms and conditions of Plan.

  
	
   

  	
   

  	
   

  
	
  Special Bonus:

  	
   

  	
  In lieu of participation in any bonus plan
  for the period through September 1, 2001, the Company will make payments
  of $25,000 on each of the following dates (subject to continued employment on
  the date of payment): September 15, 2000, October 15, 2000,
  April 1, 2001, July 1, 2001, and September 15, 2001.

  
	
   

  	
   

  	
   

  
	
  Stock Options:

  	
   

  	
  An option of 100,000 shares will be
  recommended to the Stock Option Committee to be granted under the 1989
  Non-Qualified Stock Option Plan within ten (10) days after employment
  starting date.

  
	
   

  	
   

  	
   

  
	
  Temporary Housing:

  	
   

  	
  Company will pay for the direct monthly
  leasing costs of a one (1) bedroom furnished apartment in Charlotte for a
  period of three (3) months. If a longer period of time is necessary, it
  will be reviewed on a monthly basis, not to exceed a total of six
  (6) months.

  
	
   

  	
   

  	
   

  
	
  Moving Expenses:

  	
   

  	
  Company will make arrangements and pay to
  move your household effects from Wexford, Pennsylvania to Charlotte.

  



 


	
   

  	
  Confirmed

  
	
   

  	
   

  
	
   

  	
  /s/ Irv Neger

  	
   

  
	
   

  	
  Irv Neger

  



 





















 


IRV NEGER


TERMS OF EMPLOYMENT


 


	
  Pre-Move Travel:

  	
   

  	
  Three (3) trips for both you and your
  wife to travel to and from Charlotte for the purpose of taking care of
  personal needs relating to your move.

  
	
   

  	
   

  	
   

  
	
  Medical and Life Insurance:

  	
   

  	
  Coverage under Group Medical Plan, Medical
  Expense Reimbursement Plan, and Life Insurance Plan in accordance with terms
  of Plan, effective date of hire.

  
	
   

  	
   

  	
   

  
	
  Vacation:

  	
   

  	
  Ten working days during the period from
  September 2000 through April 2001, and fifteen (15) working days
  during each twelve (12) month period commencing May 1, 2001 accruing
  rateably during the periods. We will work with you on a reasonable basis so
  that any vacation you planned in advance in the first prorated vacation year
  can be taken by permitting you to use vacation from the next year in advance.

  
	
   

  	
   

  	
   

  
	
  Severance:

  	
   

  	
  Company will pay severance of three (3) months
  base salary in equal bi-weekly installments during the three (3) month
  period if the Company terminates your employment for reasons other than
  “cause”. (“Cause” is defined as willful failure to comply with reasonable
  written directives of the President, CEO; chronic absenteeism not resulting
  from medical disability; willful misconduct or gross negligence; willful
  violation of substantive Company policies, practices or procedures; or
  indictment for or conviction of a crime involving an act of moral turpitude.)

  



 


 


	
  Confirmed:

  
	
   

  
	
  /s/ Irv Neger

  	
   

  
	
  Irv Neger

  
	
   

  
	
  Dated:

  	
  7/31/00

  	
   

  
				



 


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