Amendment to Agreement and Plan of Merger Between Pathmark Stores, Inc. and The Great Atlantic & Pacific Tea Company, Inc. Regarding Retention Pay Plans

Contract Categories: Mergers & Acquisitions › Merger Agreements
Summary

Pathmark Stores, Inc. and The Great Atlantic & Pacific Tea Company, Inc. have agreed to modify their existing merger agreement to allow Pathmark to include more employees in its retention pay plans and to increase the total payments under these plans, provided the total does not exceed $9.1 million. This amendment clarifies that these changes are permitted despite any previous restrictions in the original merger agreement. Both parties have signed to confirm their agreement to these terms.

Read More Arrow
EX-4.1 2 ex4-1.htm Pathmark Stores, Inc. Form 10-Q; Fiscal Quarter May 5, 2007; Exhibit 4.1

Exhibit 4.1

 

 

Pathmark Stores, Inc.

200 Milik Street

Carteret, New Jersey 07008-1194

Telephone: (732) 499-3930

Telecopier: (732) 499-6891

 

April 23, 2007

 

Mr. Allan Richards

The Great Atlantic & Pacific Tea Company, Inc.

2 Paragon Drive

Montvale, NJ 07645

 

Re:

Agreement and Plan of Merger by and among
The Great Atlantic & Pacific Tea Company, Inc.
and Sand Merger Corp. and Pathmark Stores, Inc.
(“Pathmark”) dated as of March 4, 2007 (the “Agreement”)

 

Dear Allan:

 

This will confirm our understanding that notwithstanding anything in Section 6.1(e) of the Agreement to the contrary, the parties hereto agree that Pathmark may permit additional associates to participate in the Retention Pay Plan for Office Associates in Grade Levels L-26 through L-35, Assistant Vice Presidents, Vice Presidents and Senior Vice Presidents, and the Retention Pay Plan for Non-Exempt Office Associates and Exempt Office Associates Through Grade Level L-25, each dated as of March 4, 2007 (collectively, the “Plans”), as set forth in items 28 and 29 of Section 4.10(k) of the Company Disclosure Letter to the Agreement, or increase the amounts payable thereunder so long as the aggregate payments under the Plans do not exceed $9.1 million.

 

If you are in agreement, please sign below.

 

 

Very truly yours,

 

 

 

 

PATHMARK STORES, INC.

 

 

 

 

By

/s/ Marc A. Strassler

 

 

Marc A. Strassler

 

 

Senior Vice President,

 

 

Secretary and General Counsel

 

Agreed to this 24th day of April, 2007

 

By

/s/ Allan Richards

 

Allan Richards

 

Senior Vice President