Exhibit 10-54
CKE RESTAURANTS, INC.
SECOND AMENDMENT
TO
EMPLOYMENT AGREEMENT
This Second Amendment (the "Second Amendment") to Employment Agreement,
dated January 1, 1994, between Xxxx Xxxxxxx Enterprises, Inc., as
predecessor-in-interest to CKE Restaurants, Inc. (the "Company") and Xxxx X.
Xxxxxxx ("Founder"), is made effective as of January 1, 2004 (the "Effective
Date"), by and between the Company and Founder.
RECITALS
A. The Company and Founder entered into an Employment Agreement
(the "Agreement") on January 1, 1994, whereby the Company agreed to employ the
Founder for a term of five (5) years from the date of the Agreement.
B. The Company and Founder entered into a First Amendment to
Employment Agreement (the "First Amendment") on November 1, 1997, whereby the
Company agreed to employ the Founder for a term of ten (10) years from the date
of the Agreement (i.e., until January 1, 2004).
C. The Company and Founder now desire to amend the Agreement to
extend the employment term.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing recitals and the
covenants and agreements set forth herein, the parties hereby agree as follows:
1. Employment Term. Section 3 of the Agreement shall be amended
in its entirety to read as follows:
"3. Employment Term. Founder shall be employed under this
Agreement for a term of eleven (11) years from the date of execution of this
Agreement (the "Employment Term"), commencing on the date hereof and terminating
on the close of business on December 31, 2004, unless sooner terminated as
provided in Section 7."
2. Definitions. Terms used but not defined in this Amendment
shall have the respective meanings assigned to them in the Agreement.
3. Counterparts. This Amendment may be executed in multiple
counterparts, each of which shall be deemed an original, and all of which shall
constitute one Amendment.
4. Terms and Conditions of Agreement. Except as specifically
amended by this Amendment, all terms and conditions of the Agreement shall
remain in full force and effect.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, this Amendment is executed by the undersigned as of
the date first written above.
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
CKE RESTAURANTS, INC.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
President and Chief Executive Officer
