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                                                                    Exhibit 10.4
                                                               Execution Version



                 MULTI-YEAR PERFORMANCE INCENTIVE BONUS ADDENDUM

      This Addendum Agreement between Larry Pollock ("Pollock") and Cole
National Corporation ("Cole National") has been negotiated between Pollock and
Cole National pursuant to Paragraph 4(b)(ii) and Exhibit A of Pollock's
Employment Agreement (the "Employment Agreement"). The agreed upon terms
covering the period of February 1, 2003 to February 1, 2005 (the "Bonus Period")
are as follows:

1.    The terms of Exhibit A are incorporated herein and made a part of this
      Addendum Agreement.

2.    Seventy-five percent (75%) of the Multi-Year Performance Incentive Bonus
      for the Bonus Period shall be quantitative and twenty-five percent (25%)
      shall be qualitative.


      (a).  The quantitative component of the bonus shall be based upon the
            Lehman Projections presented to the parties on August 14, 2003. In
            order to earn the target bonus set forth in Exhibit A of the
            Employment Agreement, Pollock must achieve the Lehman Plan
            objectives for the Bonus Period, and if those objectives are not
            achieved Pollock shall receive no bonus under this Addendum
            Agreement. In order to earn the maximum bonus set forth in Exhibit A
            of the Employment Agreement, Pollock must achieve the Lehman
            Aggressive objectives for the Bonus Period. If results are in
            between the two objectives the bonus amount to be paid to Pollock
            will be prorated and paid out on a straight-line basis. Expenses
            related to a "change of control" (as defined in the Employment
            Agreement) or an aborted "change of control" shall be excluded from
            the results. The quantitative component will be determined one-half
            (1/2) by EBITDA and one-half (1/2) by Return on Capital
            (calculated by EBITDA as a percentage of capital, both equity and
            debt), each measured during the Bonus Period.


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                                                                    Exhibit 10.4
                                                               Execution Version

            Each of these two measurements will be weighed equally in
            determining and calculating the quantitative component of the bonus.

      (b).  The qualitative component of the bonus shall be based at the sole
            discretion of Cole National's Compensation Committee and can range
            from zero to 100% of the potential contractual formula. The
            performance areas that will be considered for Pollock to earn the
            qualitative component of the bonus include tailored marketing and
            programming for franchisees, leadership development, and effective
            Board interaction.

3.    Anything contained in this Addendum or in the Employment Agreement to the
      contrary notwithstanding, in the event that a change of control occurs
      during the Bonus Period, Pollock shall receive a bonus payment in the
      amount of $500,000, (such amount being referred to herein as the "COC
      Incentive Bonus Payment"). The COC Incentive Bonus Payment shall be paid
      to Pollock within ten (10) days following the change of control.
      Furthermore, in the event of a change of control during the Bonus Period,
      any COC Incentive Bonus Payment paid to Pollock pursuant to the
      immediately preceding sentence, shall be credited against the multi-year
      performance incentive bonus, if any, that Pollock earns for the Bonus
      Period in the event Pollock continues to be employed under the Employment
      Agreement for the duration of the Bonus Period following the change of
      control. If Pollock does not continue to be employed by Cole National or
      any of its affiliates through the end of the Bonus Period, Pollock will
      not be entitled to any additional bonus payments (other than the COC
      Incentive Bonus Payment) under this Addendum for the Bonus Period. The
      payment of the COC Incentive Bonus Payment under this paragraph shall be
      disregarded in calculating the payments required to be made


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                                                                    Exhibit 10.4
                                                               Execution Version

      to Pollock pursuant to Paragraph 6(c) of the Employment Agreement.
      However, for purposes of Section 7 of the Employment Agreement, the
      payment of the COC Incentive Bonus Payment shall be deemed to have been
      made pursuant to Section 6(c) of the Employment Agreement.

4.    In the event of any extraordinary developments which impact retailers
      generally, or extraordinary internal developments which impact operations
      of Cole National, Pollock can request the Compensation Committee of Cole
      National to re-establish the quantitative terms set forth in this Addendum
      Agreement. Any such request must be in writing and any agreed upon
      adjustment to the quantitative terms must also be in writing and signed by
      both parties in order to be effective. Notwithstanding the foregoing, the
      Compensation Committee shall have no obligation to make any such
      adjustment.

      IN WITNESS WHEREOF, the parties have executed this Addendum Agreement on
the 26th day of November, 2003.


COLE NATIONAL CORPORATION

BY: /s/ Leslie D. Dunn
   -----------------------------
   Senior Vice President

LARRY POLLOCK, individually

BY: /s/ Larry Pollock
   -----------------------------


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