UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 15, 2005
THE BON-TON STORES, INC.
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(Exact Name of Registrant Specified in Charter)
Pennsylvania 0-19517 23-2835229
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(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification No.)
Incorporation)
2801 E. Market Street
York, Pennsylvania 17402
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(Address of Principal Executive Offices) (Zip Code)
Registrants telephone number, including area code: (717) 757-7660
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e4(c))
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On August 24, 2004, The Bon-Ton Stores, Inc. (the "Company") appointed
Byron L. Bergren as the Company's President and Chief Executive Officer, and the
Company's Board of Directors elected Mr. Bergren as a Director. Mr. Bergren's
employment agreement commenced August 24, 2004 and continues through January 31,
2008. On March 15, 2005, the Company's Board of Directors approved an increase
to Mr. Bergren's annual base salary, as defined by the employment agreement,
from $700,000 to $750,000 effective from May 1, 2005 through January 31, 2008.
In addition, the Company's Board of Directors approved a bonus payable to Mr.
Bergren of $247,143 for the fiscal year ended January 29, 2005, with $222,143
calculated in accordance with Mr. Bergren's employment agreement and $25,000
representing an additional performance bonus.
On March 15, 2005, the Company's Board of Directors approved a bonus
payable of $845,025 to Tim Grumbacher, Chairman of the Board of Directors, for
the fiscal year ended January 29, 2005. Of this amount, $350,025 represents an
annual bonus calculation and $495,000 represents achievement of certain
specified integration synergies.
On March 15, 2005, the Company's Board of Directors approved a bonus
payable of $149,900 to James H. Baireuther, Vice Chairman, Chief Administrative
Officer and Chief Financial Officer, for the fiscal year ended January 29, 2005.
Of this amount, $114,900 represents an annual bonus calculation and $35,000
represents achievement of certain specified integration objectives.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized. The Bon-Ton Stores, Inc.
By: /s/ Keith E. Plowman
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Keith E. Plowman
Senior Vice President, Finance
and Principal Accounting Officer
Dated: March 21, 2005