THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
EXHIBIT 99.1
THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
THIS THIRD AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of April 2, 2015, between THE CHEESECAKE FACTORY INCORPORATED (the “Company”) and XXXXX X. XXXXXXX (“Employee”).
WHEREAS, the Company and Employee previously entered into an Employment Agreement dated June 30, 2009, as amended February 29, 2012 and November 11, 2013 (collectively, the “Employment Agreement”); and
WHEREAS, the Compensation Committee of the Board of Directors of the Company has recommended to the Board of Directors of the Company (“Board”) that the Company enter into this Amendment with Employee; and
WHEREAS, the Board, after review, has determined that it is in the best interests of the Company and its shareholders to enter into this Amendment;
WHEREAS, the parties now desire to enter into this Amendment to extend the term of the Employment Agreement until April 1, 2016; and
WHEREAS, except as set forth herein, all of the terms and conditions for the employment relationship of the Employee with the Company shall remain as set forth in the Employment Agreement.
NOW, THEREFORE, in consideration of the promises and mutual covenants and agreements herein contained and intending to be legally bound hereby, the Company and the Employee hereby agree as follows:
1. Section 2 is hereby amended to read as follows:
2. “Term. The “Term of this Agreement” or “Term” shall continue until April 1, 2016. Any further extension of the Term of this Agreement or Term shall be by the mutual agreement of the Company and the Employee.”
2. The Employment Agreement except as herein amended, shall otherwise remain in full force and effect.
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IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment on the date indicated next to their signatures below.
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COMPANY: | ||
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THE CHEESECAKE FACTORY INCORPORATED, | ||
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a Delaware corporation | ||
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April 2, 2015 |
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By: |
/s/ XXXXX XXXXXXX | |
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Dated |
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XXXXX XXXXXXX, | |
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Executive Vice President, Secretary and | |
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General Counsel | |
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EMPLOYEE: | ||
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April 2, 2015 |
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/s/ XXXXX XXXXXXX | ||
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Dated |
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XXXXX XXXXXXX | ||
