Document:

EXHIBIT 10.01

                               Highland 2000, L.P.
                              ONE NORTH MAIN STREET
                              COUDERSPORT, PA 16915

                                 April 19, 2001

Adelphia Communications Corporation
One North Main Street
Coudersport, Pennsylvania  16915

         Re:      Purchase of Notes of Adelphia Communications Corporation's
                  3.25% Convertible Subordinated Notes due 2021

Gentlemen:

         The undersigned hereby agrees to purchase directly from you, and you
agree to sell to the undersigned, upon the terms and subject to the conditions
set forth herein, at a per note price equal to the Purchase Price per Note (as
hereafter defined), four hundred million dollars ($400,000,000) aggregate face
amount of 3.25% Convertible Subordinated Notes due 2021 (the "Notes"), of
Adelphia Communications Corporation, a Delaware corporation (the "Company"). The
Purchase Price per Note shall equal the sum of (a) the gross proceeds less
underwriting discount received by the Company per note from the underwritten
public offering of the 3.25% Convertible Subordinated Notes due 2021, for which
the Company has executed an Underwriting Agreement with the several underwriters
named therein as of the date hereof (the "Underwritten Public Offering") and (b)
the Additional Amount (as hereafter defined). The Additional Amount shall be
equal to an amount computed, to the eighth decimal place, as though interest
were paid at the LIBOR Rate In Effect (as hereafter defined) plus 75 basis
points (0.0075) on the per note amount determined under clause (a) of the
definition of Purchase Price per Note for each period of three months (or, in
the case of the final period, any portion thereof if less than three months)
subsequent to the date of the closing of the Underwritten Public Offering until
the date of the closing hereunder. The "LIBOR Rate in Effect" shall mean a rate
determined on the first day of each period of three months (or, in the case of
the final period, any portion thereof if less than three months) subsequent to
the Underwritten Public Offering equal to the quotient, expressed as a
percentage (rounded to the nearest 1/100th of 1%), resulting from the division
of (x) the average (rounded to the nearest 1/16th of 1%) of the interest rates
per annum at which deposits of United States Dollars are offered to money center
banks in the London interbank market for deposits of three months by (y) the
percentage equal to 100% minus the reserve percentage applicable on that day
under regulations issued by the Board of Governors of the Federal Reserve System
for determining the maximum reserve requirement for a member bank of the Federal
Reserve System with respect to Eurocurrency liabilities having a three-month
term. The Company shall determine in good faith the LIBOR Rate in Effect for
each such period. The terms of the Notes shall be substantially identically to
the 3.25% Convertible Subordinated Notes due 2021 of the Company being sold in
the Underwritten Public Offering, other than the Notes shall be convertible into
shares of the Company's Class B Common Stock.

         Each of the parties hereto represents and warrants that it has full
power and is duly authorized to enter into and perform this agreement; that it
has all necessary corporate or partnership approvals (subject in the case of the
Company to any shareholder approval required by law) necessary to do so; that
the execution and performance of this Agreement will not conflict with the
organic corporate or partnership documents of it or any order of a governmental
body or agency (subject to any regulatory approvals or regulatory filings and
expiration of waiting periods required by law) or material agreement to which it
is a party or by which it is bound; and that this Agreement is enforceable in
accordance with it terms, subject as to enforcement to bankruptcy, insolvency,
reorganization, fraudulent conveyance and other laws of general applicability
relating to or affecting creditors rights and to general equity principles. The
parties hereto agree that the undersigned is entitled to rely on the
representations and warranties made by the Company in any underwriting or
purchase agreement entered into by the Company with the investment banking firm
or firms conducting the Underwritten Public Offering; provided, however, that
the undersigned represents and warrants to the Company that such representations
and warranties will be true and correct to the best of its knowledge.

         Each party's obligations hereunder shall be conditioned upon the
Underwritten Public Offering having been consummated, any required approvals
having been obtained, any required filings having been made and any required
waiting periods having expired, and the other party's representations and
warranties being true and correct on and as of the closing date for the sale of
the Notes hereunder (except (i) for representations and warranties which
expressly relate solely to an earlier date or time, which representations or
warranties shall be true and correct on and as of the specific dates or times
referred to therein and (ii) for representations and warranties which are not
true and correct due to matters subsequent to the date of the closing of the
Underwritten Public Offering which have occurred in the Company in the ordinary
course of its business, which have occurred in the Company and been authorized
by the Board of Directors of the Company or which have occurred in the Company
and been authorized by any individual affiliate of the undersigned who is an
executive officer of the Company). A closing on the purchase of the Notes
hereunder shall be held at the principal executive offices of the Company at a
mutually agreeable date following the Underwritten Public Offering; provided,
however, that the closing shall occur no later than 270 days from the date of
the closing of the Underwritten Public Offering. At such closing, (i) the
Company shall deliver to the undersigned certificates for the Notes duly
executed in such name or names as the undersigned shall have requested bearing
appropriate securities laws legends, an opinion of counsel that the Notes have
been duly authorized, are validly existing and fully paid and a registration
rights agreement for the Notes in form similar to the existing registration
rights agreements, entered into in the three years prior to the date hereof,
between the Company and the undersigned or its affiliates and (ii) the
undersigned shall deliver to the Company the purchase price for the Notes in
immediately available funds. In the event that the Underwritten Public Offering
does not close, this Agreement shall be null and void and neither party shall
have any liability to the other hereunder. The obligation of the undersigned to
consummate the purchase of the Notes hereunder will be subject to termination in
the discretion of the undersigned if, prior to consummation, (i) trading in the
Company's Class A Common Stock has been suspended by the Securities and Exchange
Commission or the Nasdaq National Market or trading in securities generally on
the New York Stock Exchange or the Nasdaq National Market has been suspended,
(ii) a banking moratorium has been declared either by Federal or New York State
authorities, or (iii) there has occurred any outbreak or escalation of
hostilities, declaration by the United States of a national emergency or war or
other calamity or crisis the effect of which on financial markets is such as to
make it, in the reasonable judgment of the undersigned, materially impracticable
to proceed with such consummation.

         The aggregate liability of the undersigned and any of its officers,
directors, shareholders, partners or other affiliates (collectively, the
"Undersigned Affiliate Group") for any and all losses, claims, demands whether
for specific performance or otherwise, damages, liabilities, obligations, costs
and expenses (including without limitation, reasonable fees and disbursements of
counsel however sustained or incurred, and including, without limitation, any of
the foregoing enumerated items arising from any action or proceeding involving
any third party) sustained or incurred by or claimed against one or several of
the Undersigned Affiliate Group or otherwise with respect to the subject matter
of this Agreement and the transactions contemplated hereby (collectively,
"Damages") is, and shall be, limited to an amount equal to the greater of (i)
the product determined by multiplying the number of Notes to be purchased
hereunder by the positive excess, if any, of the Purchase Price per Note over
the weighted average trading price during the twenty trading days preceding the
270th day from the date of the closing of the Underwritten Public Offering or
(ii) an amount determined by multiplying the number of Notes to be purchased
hereunder by the Additional Amount per note assuming that a closing on the sale
of the Notes had occurred on the 270th day from the date of the closing of the
Underwritten Public Offering. The Company agrees not to seek any recovery for
Damages or otherwise with respect to the subject matter of this Agreement and
the transactions contemplated hereby which when aggregated with any other
recovery of the Company would result in the Company obtaining from the
Undersigned Affiliate Group an amount in excess of the amount permitted by the
preceding sentence for any and all Damages. In no event shall any of the
Undersigned Affiliate Group be liable for any special, indirect, or
consequential damages sustained by the Company or punitive damages as a result
of a breach of this Agreement or arising out of this Agreement and the
transactions contemplated hereby.

         No commissions or discounts shall be paid to any placement agent for
the purchase or sale of the Notes. The Notes shall be purchased and shall be
held for investment.

         This Agreement may be assigned by the undersigned to any affiliate of
the undersigned provided that a majority of John Rigas, Michael Rigas, Timothy
Rigas and James Rigas consent in writing to such assignment. This Agreement may
be executed in one or more counterparts each of which, taken together, shall
constitute one and the same agreement.

         [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

<PAGE>

         This Agreement shall be governed by and construed in accordance with
the internal laws of the State of New York for contracts made and to be fully
performed in such state without giving effect to the principles of conflicts of
law thereof.

                                                Very truly yours,

                                                HIGHLAND 2000, L.P., a
                                                Delaware limited partnership

                                                By: Highland 2000, LLC,
                                                    General Partner, a Delaware
                                                    limited liability company

                                                By: /s/ Timothy J. Rigas
                                                    Authorized Member

Agreed to and accepted on this 19th day of April, 2001 by

ADELPHIA COMMUNICATIONS CORPORATION

By:      /s/ Timothy J. Rigas

Name:  Timothy J. Rigas
Title:   Executive Vice PresidentEXHIBIT 10.10

                           THE SPORTS AUTHORITY, INC.

                           SUPPLEMENTAL 401(k) SAVINGS
                             AND PROFIT SHARING PLAN

                         (as amended November 21, 2000)

WHEREAS, it is in the best interest of The Sports Authority, Inc. and its
Affiliates (the "Corporation") to retain a select group of competent and loyal
management personnel; and

WHEREAS, Congress has from time to time limited the amounts of retirement
benefits available to the more highly compensated employees in relationship to
their pay; and

WHEREAS, the Corporation finds that it is in its best interest to supplement the
retirement pay of a select group of management personnel who might otherwise
receive less retirement pay than their counterparts, and to retain equity among
the Corporation's management personnel;

NOW THEREFORE, the Corporation hereby establishes the following Supplemental
401(k) Savings and Profit Sharing Plan effective January 1, 1996 ("Effective
Date"), as amended November 21, 2000:

ARTICLE I
DEFINITIONS

1.1  Affiliate. "Affiliate" means an entity that is a member of the same
     controlled group (as defined in Code Sections 414(b), (c) or (m)) as The
     Sports Authority, Inc.

1.2  Beneficiary. "Beneficiary" means a person or entity designated by the
     Participant as his or her beneficiary under the terms of the Profit Sharing
     Plan.

1.3  Board of Directors. "Board of Directors" means the Board of Directors of
     The Sports Authority, Inc.

1.4  Change in Control. "Change in Control" means the first to occur of any of
     the following events:

                                       17
<PAGE>

     (a)  the "beneficial ownership" (as defined in Rule 13d-3 under the
          Securities Exchange Act of 1934) of securities representing more than
          20% of the combined voting power of the Corporation is acquired by any
          "person," as defined in sections 13(d) and 14(d) of the Securities
          Exchange Act of 1934 (other than the Corporation, any trustee or other
          fiduciary holding securities under an employee benefit plan of the
          Corporation, or any corporation owned, directly or indirectly, by the
          shareholders of the Corporation in substantially the same proportions
          as their ownership of shares of the Corporation, or any "person"
          acquiring such securities in a sale or transfer by the Corporation in
          a transaction not involving a public offering), or

     (b)  the shareholders of the Corporation approve a definitive agreement to
          merge or consolidate the Corporation with or into another corporation
          or to sell or otherwise dispose of all or substantially all of its
          assets, or adopt a plan of liquidation, or

     (c)  during any period of three consecutive years , individuals who at the
          beginning of such period were members of the Board of Directors cease
          for any reason to constitute at least a majority thereof (unless the
          election, or the nomination for election by the Corporation's
          shareholders, of each new director was approved by a vote of at least
          a majority of the directors then still in office who were directors at
          the beginning of such period).

1.5  Code. "Code" means the Internal Revenue Code of 1986, as amended.

1.6  Compensation Committee. "Compensation Committee" means the persons who are
     from time to time serving as members of the Compensation Committee of the
     Corporation's Board of Directors.

1.7  Corporation. "Corporation" means The Sports Authority, Inc. and any of its
     Affiliates (a) whose participation in the Plan has been approved by the
     Board of Directors, and (b) which by action of its own board of directors
     shall have adopted the Plan.

1.8  Eligible Spouse. "Eligible Spouse" means the person to whom the Participant
     is legally married at the time of the Participant's death.

1.9  Matching Contribution. "Matching Contribution" means the matching
     contribution made by the Corporation for the benefit of a Participant under
     and in accordance with the terms of the Profit Sharing Plan for a Plan
     Year.

1.10 Matching Contribution Account. "Matching Contribution Account" means the
     account established for a Participant under the Profit Sharing Plan to
     which Matching Contributions are allocated, as adjusted by earnings or
     losses thereon.

                                       18
<PAGE>

1.11 Officer. "Officer" means an officer of the Corporation at the level of Vice
     President or above.

1.12 Participant. "Participant" means any Officer of The Sports Authority, Inc.
     who participates in the Plan in accordance with Article II of the Plan.
     Participant shall also include any Officer of an Affiliate designated by
     the Compensation Committee of the Board of Directors to participate in the
     Plan.

1.13 Plan. "Plan" means The Sports Authority, Inc. Supplemental 401(k) Savings
     and Profit Sharing Plan set forth in this document, as amended from time to
     time.

1.14 Plan Year. "Plan Year" means calendar year.

1.15 Profit Sharing Account. "Profit Sharing Account" means the account
     established for a Participant under the Profit Sharing Plan to which Profit
     Sharing Contributions are allocated, as adjusted by earnings or losses
     thereon.

1.16 Profit Sharing Contribution. "Profit Sharing Contribution" means the profit
     sharing contribution made by the Corporation for the benefit of a
     Participant under and in accordance with the terms of the Profit Sharing
     Plan for a Plan Year.

1.17 Profit Sharing Plan. "Profit Sharing Plan" means The Sports Authority
     401(k) Savings and Profit Sharing Plan.

1.18 Supplemental Matching Contribution. "Supplemental Matching Contribution"
     means the matching contribution credited to the Supplemental Matching
     Contribution Account by the Corporation on behalf of a Participant under
     the Plan for a Plan Year.

1.19 Supplemental Matching Contribution Account. "Supplemental Matching
     Contribution Account" means the account maintained by the Corporation under
     the Plan for a Participant that is credited with amounts described in
     Section 4.2.

1.20 Supplemental Profit Sharing Account. "Supplemental Profit Sharing Account"
     means the account maintained by the Corporation under the Plan for a
     Participant that is credited with amounts described in Section 4.1.

1.21 Supplemental Profit Sharing Contribution. "Supplemental Profit Sharing
     Contribution" means the profit sharing contribution credited to the
     Supplemental Profit Sharing Account by the Corporation on behalf of a
     Participant under the Plan for a Plan Year.

1.22 Trust. "Trust" means the "rabbi trust," which may be entered into in
     conjunction with the Plan.

                                       19
<PAGE>

1.23 Year of Vesting Service. "Year of Vesting Service" means a year of
     "Service" as defined in the Profit Sharing Plan.

ARTICLE II
ELIGIBILITY

     Those employees of The Sports Authority, Inc. who are among a select group
     of management and highly compensated employees, as determined from time to
     time by the Compensation Committee or its designee, and who are
     Participants in the Profit Sharing Plan and who have Profit Sharing
     Contributions or Matching Contributions under the Profit Sharing Plan that
     have been limited in any way by the requirements of the Code and applicable
     regulations, including, but not limited to, Section 401(a)(17) of the Code
     (relating to the $150,000 (indexed) limit on compensation), Section
     401(k)(3) of the Code (relating to discrimination standards) and Section
     402(g) of the Code (relating to the limit on elective deferrals), shall
     participate in the Plan.

     Those employees of any Affiliate who are among a select group of management
     and highly compensated employees, and who are selected at the discretion of
     the Compensation Committee or its designee, may participate in the Plan.
     Such action shall be effective as of the later of: (i) the date such action
     is taken; or (ii) its effective date. An employee whose status as a
     Participant is revoked shall be entitled only to any benefits to which he
     or she is entitled under Article IV.

ARTICLE III
VESTING

3.1  Supplemental Profit Sharing Contributions. The amounts credited to the
     Participant's Supplemental Profit Sharing Account shall become one hundred
     percent (100%) vested only after the Participant earns five (5) Years of
     Vesting Service, attains age 65, dies or becomes disabled as defined in the
     Profit Sharing Plan.

3.2  Supplemental Matching Contributions. The amounts credited to the
     Participant's Supplemental Matching Contribution Account shall be and
     remain one hundred percent (100%) vested at all times.

3.3  Change in Control. In the case of a Change in Control, each Participant
     shall become immediately fully vested in the amount credited to his or her
     Supplemental Profit Sharing Account under the Plan.

                                       20
<PAGE>

ARTICLE IV
SUPPLEMENTAL CONTRIBUTIONS

4.1  Supplemental Profit Sharing Contribution. A Supplemental Profit Sharing
     Contribution shall be credited to each Participant's Supplemental Profit
     Sharing Account by the Corporation for the benefit of that Participant for
     each Plan Year. The amount credited shall be equal to the difference
     between (a) and (b) below:

     (a)  The Profit Sharing Contribution that would have been allocated to the
          Participant's Profit Sharing Account under the Profit Sharing Plan on
          behalf of the Participant for the Plan Year if such contribution had
          not been limited by the Code;

     (b)  The amount of the Profit Sharing Contribution actually allocated to
          the Participant's Profit Sharing Account under the Profit Sharing Plan
          on behalf of the Participant for the Plan Year.

     Such Supplemental Profit Sharing Contributions shall be credited at the
time the Profit Sharing Contribution under the Profit Sharing Plan is credited
to the Participant's Profit Sharing Account.

4.2  Supplemental Matching Contribution. A Supplemental Matching Contribution
     shall be credited to each Participant's Supplemental Matching Contribution
     Account by the Corporation for the benefit of that Participant for each
     Plan Year. The amount credited shall be equal to the difference between (a)
     and (b) below:

     (a)  The Matching Contribution that would have been allocated to the
          Participant's Matching Contribution Account under the Profit Sharing
          Plan on behalf of the Participant for the Plan Year if such
          contribution had not been limited by the Code;

     (b)  The amount of the Matching Contribution actually allocated to the
          Participant's Matching Contribution Account under the Profit Sharing
          Plan on behalf of the Participant for the Plan Year.

Such Supplemental Matching Contribution shall be credited at the time the
Matching Contribution under the Profit Sharing Plan is credited to the
Participant's Matching Contribution Account.

ARTICLE V
VALUATION OF SUPPLEMENTAL CONTRIBUTIONS

On each date amounts are credited hereunder, such amounts shall be deemed
invested in shares of Common Stock of the Corporation (icluding fractional
shares), based on the closing price of such shares on the date credited, as
reported in The Wall Street Journal, New York Stock Exchange

                                       21
<PAGE>

Transactions - Composite Transactions. On any date thereafter, the value of a
Participant's Supplemental Matching Contribution Account and Supplemenatl Profit
Sharing Contribution Account shall equal the number of shares in which amounts
credited are deemed invested (as adjusted to reflect stock splits, stock
dividends, recapitalizations, combinations or exhanges of shares or similar
coprorate transactions, and as adjusted to reflect the reinvestment of cash
dividends on such shares), mulitiplied by the price of such shares on such date,
calculated in the manner set forth in the preceding sentence.

ARTICLE VI
DISTRIBUTIONS

6.1  Timing and Form of Payment. The benefits payable under the Plan shall be
     paid in cash at the later of termination of employment or age sixty-five
     (65), or earlier in the discretion of the Compensation Committee, in one
     lump sum payment. Such payment shall be made within thirty (30) days after
     such event or determination, and the amount thereof shall be based on the
     total value of the Participant's Profit Sharing Contribution Account and
     his Matching Contribution Account as of the date of such event or
     termination.

6.2  Death Benefit. If a Participant dies prior to receiving all amounts
     distributable under the Plan, the Participant's Beneficiary shall receive
     in cash the benefits payable under the Plan, at the same time as such
     Beneficiary receives benefits payable under the Profit Sharing Plan. The
     amount paid shall be based on the total value of the Participant's Profit
     Sharing Contribution Account and his Matching Contribution Account as of
     the same date assets held in the Participants accounts in the Profit
     Sharing Plan are valued for purposes of distribution to the Beneficiary.

6.3  Benefit due to Service with Prior Parent Company. Certain Officers earned
     supplemental retirement benefits while the Corporation was a wholly owned
     subsidiary of Kmart Corporation. The liability for these benefits has
     become an obligation of the Corporation. In addition to any amounts payable
     under the preceding provisions of this Plan, any Officer listed on Exhibit
     A of this Plan shall be entitled to the benefit so listed.

ARTICLE VII
EVENTS CAUSING FORFEITURE

7.1  Termination of Employment. Termination of employment for any reason prior
     to the Participant's vesting under Article III will cause the Participant
     to forfeit any unvested interest in the Plan.

7.2  Forfeiture For Cause. If the Compensation Committee finds, after full
     consideration of the facts presented on behalf of both the Corporation and
     a former Participant, that the Participant was discharged by the
     Corporation for fraud, embezzlement, theft, commission of a felony, or for
     proven dishonesty in the course of his or her employment by the

                                       22
<PAGE>

     Corporation which damaged the Corporation, the amounts credited to the
     Participant's accounts under the Plan will be forfeited. The decision of
     the Compensation Committee as to the cause of a former Participant's
     discharge and the damage done to the Corporation will be final. No decision
     of the Compensation Committee will affect the finality of the discharge of
     the Participant by the Corporation in any manner.

ARTICLE VIII
COMPENSATION COMMITTEE

8.1  Powers of the Compensation Committee. The Compensation Committee will have
     the responsibility for the general administration of the Plan according to
     the terms and provisions of the Plan and will have all powers necessary to
     accomplish those purposes, including, but not by way of limitation, the
     right, power and authority:

     (a)  to make rules and regulations for the administration of the Plan which
          are not inconsistent with its terms and provisions;

     (b)  to construe all terms, provisions, conditions and limitations of the
          Plan, and its construction of the Plan will be final as to all
          parties;

     (c)  to correct any defect, supply any omission or reconcile any
          inconsistency that may appear in the Plan in the manner and to the
          extent it deems expedient to carry the Plan into effect and its
          judgment in those matters will be final as to all parties;

     (d)  to delegate by written notice those clerical and recordation duties of
          the Compensation Committee, as it deems necessary or advisable for the
          proper and efficient administration of the Plan.

          No member of the Board of Directors or the Compensation Committee
     shall be liable for any action taken or determination made in good faith
     with respect to the Plan.

8.2  Conflict of Interest. A member of the Compensation Committee who is also a
     Participant shall not vote or act on any matter relating solely to himself
     or herself.

8.3  Claims Procedure. The Compensation Committee shall make all determinations
     as to the right of any person to a benefit. If any application for payment
     of a benefit under the Plan shall be denied, the Compensation Committee
     shall notify the claimant within ninety (90) days of such denial setting
     forth the specific reason therefor and afford such claimant a reasonable
     opportunity for a full and fair review of the decision denying his or her
     claim. Notice of such denial shall set forth, in addition to the specific
     reasons for the denial,

                                       23
<PAGE>

     reference to pertinent provisions of the Plan, such additional information
     as may be relevant to denial of the claim, an explanation of the claims
     review procedure and advice that such claimant may request the opportunity
     to review pertinent Plan documents and submit a statement of issues and
     comments. Within sixty (60) days following advice of denial of his or her
     claim, upon request made by any claimant for a review of such denial, the
     Compensation Committee shall take appropriate steps to review its decision
     in light of any further information or comments submitted by such claimant.
     The Compensation Committee may, in its discretion, hold a hearing at which
     such claimant shall be entitled to present the basis of his or her claim
     for review and at which he may be represented by counsel. The Compensation
     Committee shall render a decision within sixty (60) days after claimant's
     request for review (which may be extended to 120 days if circumstances so
     require) and shall advise claimant in writing of its decision on such
     review, specifying its reasons and identifying appropriate provisions of
     the Plan.

ARTICLE IX
AMENDMENT AND/OR TERMINATION

9.1  Amendment or Termination of the Plan. The Board of Directors may amend or
     terminate the Plan at any time by an instrument in writing.

9.2  No Retroactive Effect on Credited Benefits. No amendment or termination of
     the Plan shall adversely affect the rights of any Participant to the
     benefit credited under the Plan for the Participant without his or her
     consent. However, the Board of Directors shall retain the right at any time
     to change in any manner the contributions provided in Article IV, but only
     as to contributions after the date of the amendment.

9.3  Effect of Termination. If the Plan is terminated, no further contributions
     under the Plan will be credited. The contributions credited under the Plan
     prior to the date of termination will be payable under the conditions, at
     the time and in the form then provided in the Plan.

ARTICLE X
CORPORATE OBLIGATION

          The Corporation shall pay the benefits due the Participants under the
     Plan. It is specifically recognized by both the Corporation and the
     Participants that the Plan is only an unsecured corporate commitment and
     that each Participant must rely upon the general credit of the Corporation
     for the fulfillment of its obligations hereunder. Under all circumstances,
     the rights of Participants to any asset held by the Corporation will be no
     greater than the rights expressed in the Plan. Nothing contained in the
     Plan will constitute a guarantee by the Corporation that the assets of the
     Corporation will be sufficient to pay any benefits under the Plan or would
     place the Participant in a secured position ahead of general creditors of
     the Corporation. Though the Corporation may establish a Trust to accumulate

                                       24
<PAGE>

     assets to fulfill its obligations, the Plan and any such trust will not
     create any lien, claim, encumbrance, right, title or other interest of any
     kind whatsoever of any Participant in any asset held by the Corporation,
     contributed to any such trust or otherwise designated to be used for
     payment of any of its obligations created in the Plan. No policy or other
     specific asset of the Corporation has been or will be set aside, or will in
     any way be transferred to any trust or will be pledged in any way for the
     performance of the Corporation's obligations under the Plan which would
     remove the policy or asset from being subject to the general creditors of
     the Corporation.

ARTICLE XI
MISCELLANEOUS

11.1  Limitation of Rights. Nothing in the Plan will be construed:

     (a)  to give a Participant any right with respect to any benefit except in
          accordance with the terms of the Plan;

     (b)  to limit in any way the right of the Corporation to terminate a
          Participant's employment with the Corporation at any time;

     (c)  to evidence any agreement or understanding, expressed or implied, that
          the Corporation will employ a Participant in any particular position
          or for any particular remuneration; or

     (d)  to give a Participant or any other person claiming through him any
          interest or right under the Plan other than that of any unsecured
          general creditor of the Corporation.

11.2  Distributions to Incompetents or Minors. Should a Participant become
      incompetent or should a Participant designate a Beneficiary who is a minor
      or incompetent, the Corporation is authorized to pay the funds due to the
      parent of the minor or to the guardian of the minor or incompetent or
      directly to the minor or to apply those funds for the benefit of the minor
      or incompetent in any manner the Compensation Committee determines in its
      sole discretion.

11.3  Nonalienation of Benefits. No right or benefit provided in the Plan will
      be transferable by the Participant except, upon his or her death, to a
      named Beneficiary as provided in the Plan. No right or benefit under the
      Plan will be subject to anticipation, alienation, sale, assignment,
      pledge, encumbrance or charge (except as provided in Section 206(d)(3) of
      the Employee Retirement Income Security Act of 1974 relating to domestic
      relations orders), and any attempt to anticipate, alienate, sell, assign,
      pledge, encumber, or charge the same will be void. No right or benefit
      under the Plan will in any manner be liable for or subject to any debts,
      contracts, liabilities or torts of the person entitled to such benefits.

                                       25
<PAGE>

11.4  Responsibility for Distributions and Withholding of Taxes. The
      Compensation Committee will furnish information to the Corporation,
      concerning the amount and form of distribution to any Participant entitled
      to a distribution so that the Corporation may make or cause the Trust, if
      applicable, to make the distribution required. It will also calculate the
      deductions from the amount of the benefit paid under the Plan for any
      taxes required to be withheld by federal, state or local government based
      on the Participant's instructions, and will cause them to be withheld.

11.5  Reliance Upon Information. No member of the Board of Directors or the
      Compensation Committee shall be liable for any decision or action taken in
      good faith in connection with the administration of the Plan. Without
      limiting the generality of the foregoing, any decision or action taken by
      the Board of Directors or the Compensation Committee when it relies upon
      information supplied it by any officer of the Corporation, the
      Corporation's legal counsel, the Corporation's actuary, the Corporation's
      independent accountants or other advisors in connection with the
      administration of the Plan will be deemed to have been taken in good
      faith.

11.6  Severability. If any term, provision, covenant or condition of the Plan is
      held to be invalid, void or otherwise unenforceable, the rest of the Plan
      will remain in full force and effect and will in no way be affected,
      impaired or invalidated.

11.7  Notice. Any notice or filing required or permitted to be given to the
      Compensation Committee or a Participant will be sufficient if in writing
      and hand delivered or sent by U.S. mail to the principal office of the
      Corporation or to the residential mailing address of the Participant.
      Notice will be deemed to be given as of the date of hand delivery or if
      delivery is by mail, as of the date shown on the postmark.

11.8  Gender. Whenever any words are used in the Plan in the masculine,
      feminine, or neuter gender, they are to be construed as though they were
      also used in another gender in all cases where they would so apply.

11.9  Governing Law. The Plan will be construed, administered and governed in
      all respects by the laws of the State of Delaware to the extent they are
      not preempted by Federal law.

11.10 Effective Date. The Plan will be operative and effective on January 1,
      1996.

                                       26
<PAGE>

================================================================================
EXHIBIT A
================================================================================
                                                           Equivalent Shares of
                        Shares of Kmart   Value of Kmart   The Sports Authority
                        Stock as of       Stock as of      Stock as of IPO
Names                   11/17/94          11/17/94         11/17/94
--------------------------------------------------------------------------------
Jack A. Smith           3,261.058         $48,508.238      2,716.027
--------------------------------------------------------------------------------
Richard Lynch           1,163.667         $17,309.547      969.18
--------------------------------------------------------------------------------
Arnie Sedel             584.694           $8,697.323       486.972
--------------------------------------------------------------------------------
Robert Timinski         546.142           $8,123.862       454.864
================================================================================

                                       27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}]]