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EXHIBIT 10.16
CHANGE OF CONTROL AND MATERIAL TRANSACTION SEVERANCE PLAN FOR
CERTAIN EMPLOYEES OF ACQUIRED EMPLOYERS
On April
3, 2006, the Human Resources and Compensation Committee (the
"HRCC") of the Board of Directors (the "Board") of The Bon-Ton
Stores, Inc. (the
"Company") adopted a Change of Control and Material Transaction
Severance Plan
for Certain Employees of Acquired Employers (the "Severance Plan"),
to protect
certain former participants in the Saks Incorporated Change of
Control and
Material Transaction Severance Plan (the "Saks Plan") as required
under the
terms of the Purchase Agreement between Saks Incorporated and the
Company dated
October 24, 2005 and amended on February 16, 2006 (the "Purchase
Agreement").
The Severance Plan was effective as of 12:01 a.m., Chicago time, on
March 5,
2006. The new employees of the Company who are former employees of
Saks
Incorporated and were participants under the Saks Plan are eligible
to
participate in the Severance Plan if they became an employee of the
Company on
or shortly after the date the Severance Plan became effective. The
Severance
Plan provides for severance benefits if (1) a participant's
employment is
terminated by the Company
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