EXHIBIT 10.3
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FORM OF SEVERANCE PROTECTION AGREEMENT
THIS AGREEMENT (the "Agreement"), dated effective as of_____________
___, 20__ (the "Effective Date") is entered into by and between Buffets, Inc.
(the "Company") and the person named on Appendix A attached hereto ("the
Employee").
WHEREAS the Employee desires to obtain certain financial assurances
from the Company in the event that employment is terminated under specified
circumstances; and
WHEREAS the Company has agreed to extend remuneration under these
circumstances in exchange for the Employee's agreement to certain undertakings
and covenants described below.
NOW THEREFORE, in consideration of the mutual covenants and obligations
contained herein, and other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Employee and the Company agree as
follows:
ARTICLE I
STATEMENT OF PURPOSE
1.1 The purpose of this Agreement is to encourage and motivate the Employee
to devote full attention to the performance of the Employee's assigned duties
without the distraction of concerns regarding involuntary termination of
employment by the Company, its subsidiaries or affiliates. The Company believes
it is in its best interests to provide for severance payments and other benefits
to the Employee in the event employment is terminated for reasons other than
Cause, Disability or on account of death.
ARTICLE II
DEFINITIONS
2.1 "ANNUAL BASE SALARY" shall mean the greater of (a) the Employee's base
salary listed on Appendix A attached hereto, or (b) the Employee's highest rate
of base salary in effect at anytime within the one-year period prior to the
Employee's Date of Termination.
2.2 "CAUSE" shall mean (i) the conviction or pleading of nolo contendere
with respect to a felony, or a misdemeanor involving moral turpitude or
dishonesty in the conduct of the affairs of the Employer or its Subsidiaries,
(ii) gross negligence or willful misconduct or malfeasance by the Employee in
the performance of his or her duties with the Company or any of its subsidiaries
or affiliates, (iii) failure by the Employee to obey the lawful directions of
superiors to whom the Employee reports, which directions are not materially
inconsistent with the Employee's past or present duties and responsibilities, or
(iv) breach of any noncompetition, nonsolicitation or confidentiality
requirements to which the Employee is subject, whether or not such agreement or
requirement is enforceable under applicable law. Notwithstanding the foregoing,
the Employee shall not be deemed to have been terminated for Cause until ten
(10) days after there shall have been delivered to such Employee a written
notice setting forth in reasonable detail the particulars forming the basis for
such termination. The Employee shall be given the opportunity to be heard by the
executive overseeing the Human Resources Department (or, if the Employee reports
to that executive, then the CEO) during such ten day period set forth in the
notice although such hearing will not toll the ten day notice period or alter
the effectiveness of the termination notice unless the designated hearing
officer rescinds the employment termination in writing within such ten (10) day
period.
2.3 "COBRA" means Section 4980B of the Code and Section 601 et seq. of
ERISA, and the proposed or final regulations thereunder.
2.4 "CODE" means the Internal Revenue Code of 1986, as amended.
2.5 "DATE OF TERMINATION" means the last day on which the Employee is
actively employed by an Employer.
2.6 "Disability" shall mean any event of disability under the disability
insurance plan of the Employer covering the Employee, or if there shall be no
such disability plan, then as set forth in any agreement between the Employee
and the Employer, or if there shall be no such agreement, then the inability of
the Employee to perform his or her duties as an employee of the Company or its
Subsidiaries for any period of at least ninety (90) days during any consecutive
12-month period.
2.7 "Employer" means the Company or any subsidiary or corporate affiliate
of the Company.
2.8 "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.
2.9 "PROTECTION PERIOD" means the total number of weeks listed on Appendix
A that are used to calculate the Employee's Severance Benefits.
2.10 "RELEASE" means a general release executed by the Employee in the form
attached hereto as Appendix B or as the same may be revised from time to time by
the Company in its sole and absolute discretion.
2.11 "SEVERANCE BENEFITS" means the severance payments and other benefits
described in Sections 3.2. and 3.5.
2.12 "WEEKLY COMPENSATION" means the Employee's Annual Base Salary divided
by fifty two (52).
ARTICLE III
SEVERANCE PAYMENTS AND RELATED BENEFITS
3.1 ENTITLEMENT TO BENEFITS. If the Employer terminates the Employee's
employment for any reason other than Cause, Disability or death, the Employee
shall be entitled to Severance Benefits provided the Employee executes a Release
at the termination of employment, complies with the provisions set forth in this
Agreement.
3.2 SEVERANCE PAYMENTS. If the Employee is eligible for benefits under
Section 3.1, they shall receive payments equal to the Employee's Weekly
Compensation multiplied by the number of weeks in the Employee's Protection
Period, payable in biweekly installments in accordance with the Employer's
regular payroll practices.
3.3 OTHER BENEFITS DISCONTINUED. Except for those fringe benefits listed on
Appendix A, if any, no fringe benefits or plans or related payroll deductions,
other than those provided pursuant to this Article III (and applicable tax
withholding), shall be continued after the Employee's Date of Termination.
3.4 FORFEITURE. Notwithstanding any provision in this Agreement to the
contrary, any payment of benefits under this Agreement shall automatically cease
in the event the Employee materially breaches the Release or the noncompetition,
nonsolicitation or confidentiality provisions to which they are subject with the
Company, its subsidiaries or affiliates (and the Employee continues to engage in
such conduct after notice from Employer has been received) and the Employer
shall be entitled to a full refund from the Employee of any benefits paid to the
Employee under this Agreement.
3.5 TAX WITHHOLDING; OTHER SET-OFFS. The Employer may withhold from any
amounts payable under this Agreement any federal, state, and local income,
excise, employment, or other tax that is required to be withheld pursuant to any
applicable law or regulation. Payments hereunder shall not be subject to set off
except for bona fide indebtedness or advances owed by the Employee to the
Employer.
ARTICLE IV
DISPUTE RESOLUTION
4.1 DISPUTE RESOLUTION. Any dispute or controversy arising under or in
connection with this Agreement that cannot be mutually resolved by the parties
hereto shall be settled exclusively by arbitration in Minneapolis, Minnesota
before a single arbitrator, who shall be selected jointly by the Company and the
Employee, or, if the Company and the Employee cannot agree on the selection of
the arbitrator, shall be selected by the American Arbitration Association
(provided that any arbitrator selected by the American Arbitration Association
shall not, without the consent of the parties hereto, be affiliated with the
Company or the Employee or any of their respective affiliates). Judgment may be
entered on the arbitrator's award in any court having jurisdiction. The parties
hereby agree that the arbitrator shall be empowered to enter an equitable decree
mandating specific enforcement of the terms of the Agreement.
ARTICLE V
NO MITIGATION
5.1 NO MITIGATION. The Employee shall have no duty to mitigate the amounts
payable by the Employer under this Agreement by seeking or accepting new
employment following the Date of Termination. Except as specifically provided in
this Agreement, all amounts payable pursuant to this Agreement shall be paid
without reduction regardless of any amounts which may be paid or payable to the
Employee as a result of the Employee's employment by another employer.
ARTICLE VI
EXCLUSIVITY OF RIGHTS
6.1 WAIVER OF CERTAIN OTHER RIGHTS. If the Employee is entitled to receive
Severance Benefits pursuant to Section 3.1 hereof, they shall be deemed to have
waived the right to receive severance payments or other severance benefits under
any other agreement, plan, program, practice or arrangement of any Employer.
ARTICLE VII
MISCELLANEOUS
7.1 NO ASSIGNABILITY. This Agreement is personal to the Employee and
without the prior written consent of the Company shall not be assignable by the
Employee otherwise than by will or the laws of descent and distribution.
7.2 PAYMENTS TO BENEFICIARY. If the Employee dies before receiving the
amounts to which they are entitled under this Agreement, such amounts shall be
paid to the beneficiary designated in writing by the Employee, or if none is so
designated, to the Employee's estate.
7.3 NON-ALIENATION OF BENEFITS. The Severance Benefits payable under this
Agreement shall not be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, charge, garnishment, execution or
levy of any kind, either voluntary or involuntary, before actually being
received by the Employee, and any such attempt to dispose of any right to
benefits payable under this Agreement shall be void.
7.4 SEVERABILITY. In the event that any provision of this Agreement is
determined to be invalid or unenforceable, the remaining terms and conditions of
this Agreement shall be unaffected and shall remain in full force and effect. In
addition, if any provision is determined to be invalid or unenforceable due to
its duration and/or scope, the duration and/or scope of such provision, as the
case may be, shall be reduced, such reduction to be to the smallest extent
necessary to comply with applicable law, and such provision shall be
enforceable, in its reduced form, to the fullest extent permitted by applicable
law.
7.5 AMENDMENTS. This Agreement shall not be altered, amended or modified
except by written instrument executed by the Company and the Employee.
7.6 NOTICES. Any notice given pursuant to this Agreement to any party
hereto shall be deemed to have been duly given when hand delivered or mailed by
registered or certified mail, return receipt requested, or by overnight courier,
addressed to the Employee at the address listed on Appendix A and to the Company
at Buffets, Inc., Attn: General Counsel, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇, or at such other address as either party shall from time to time
designate by written notice, in the manner provided herein, to the other party
hereto.
7.7 COUNTERPARTS. This Agreement may be executed by one or more of the
parties hereto on any number of separate counterparts and all such counterparts
shall be deemed to be one and the same instrument. Each party hereto confirms
that any facsimile copy of such party's executed counterpart of the Agreement
(or its signature page thereof) shall be deemed to be an executed original
thereof.
7.8 CAPTIONS. The captions of this Agreement are not part of the provisions
hereof and shall have no force and effect.
7.9 PRONOUNS. Masculine pronouns and other words of masculine gender shall
refer to both men and women.
7.10 NO WAIVER. A party's failure to insist upon strict compliance with any
provision of this Agreement which inures to the benefit of a party shall not be
deemed to be a waiver of such provision or any other provision of this Agreement
by such party.
7.11 EFFECT OF OTHER AGREEMENTS. To the extent that the Employee is subject
to the terms of the Stockholders Agreement between Buffets Holdings, Inc. and
its shareholders by nature of (a) Employee's ownership of common stock of
Buffets Holdings, Inc., and (b) Employee being afforded severance protection in
connection with their common stock investment, then this Agreement shall be void
and of no effect and the severance protection otherwise extended to the Employee
pursuant to the Stockholder Agreement and its associated exhibits and
understandings shall control. CONSISTENT WITH SECTION 6.1 OF THIS AGREEMENT, IT
IS THE MUTUAL INTENT OF THE PARTIES TO THIS AGREEMENT THAT THERE BE NO
"STACKING" OF SEVERANCE BENEFITS FROM MULTIPLE PROGRAMS OR SOURCES OFFERED BY
THE COMPANY, ITS SUBSIDIARIES OR AFFILIATES IN CONNECTION WITH THE EMPLOYEE'S
SEPARATION OF EMPLOYMENT FROM THE EMPLOYER, INCLUDING WITH RESPECT TO THE
COMPANY'S POLICIES, TRADE PRACTICES, SPECIFIC OR GENERAL PROVISIONS DESCRIBED IN
EMPLOYEE'S OFFER OF EMPLOYMENT AND/OR OTHER COMMUNICATIONS, ALL OF WHICH
EMPLOYEE WAIVES IN LIEU OF THE TERMS SET FORTH IN THIS AGREEMENT, ALTHOUGH NONE
OF THE FOREGOING SHALL LIMIT THE EFFECTIVENESS OF ARTICLE V OF THIS AGREEMENT
WITH RESPECT TO INCOME RECEIVED BY THE EMPLOYEE FROM OTHER EXTERNAL SOURCES.
7.12 GOVERNING LAW. This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of Minnesota, without giving
effect to conflict-of-laws principles.
7.13 ENTIRE AGREEMENT. This Agreement sets forth the entire understanding of
the parties with respect to the subject matter hereof and supersedes all
existing agreements among them concerning such subject matter.
IN WITNESS WHEREOF, the Company and the Employee have executed this
Agreement as of the date first set forth above.
BUFFETS, INC. Employee
By: _______________________________ ______________________________
Its: _______________________________
APPENDIX A
NAME OF EMPLOYEE : ________________________
ADDRESS: ________________________
________________________
BASE SALARY: ________________________
PROTECTION PERIOD:
OTHER BENEFITS: NONE
APPENDIX B
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(IF THE EMPLOYER TERMINATES THE EMPLOYEE'S EMPLOYMENT FOR ANY REASON OTHER THAN
CAUSE, DISABILITY OR DEATH, THE EMPLOYEE SHALL BE ENTITLED TO SEVERANCE BENEFITS
TO THE EXTENT DESCRIBED IN THE SEVERANCE PROTECTION AGREEMENT, PROVIDED THE
EMPLOYEE EXECUTES A RELEASE AT THE TERMINATION OF EMPLOYMENT, COMPLIES WITH THE
PROVISIONS SET FORTH IN THE SEVERANCE PROTECTION AGREEMENT AND ABSENT A
REVOCATION OR RESCISSION BY THE EMPLOYEE. THE TERM "RELEASE," FOR PURPOSES OF
THIS AGREEMENT, REFERS TO THE COMPANY'S THEN-CURRENT GENERAL RELEASE OF CLAIMS.
THE RELEASE WILL INCLUDE PARTICULARS WITH RESPECT TO THE EMPLOYMENT SEPARATION,
AND PROVISIONS INTENDED TO RELEASE THE COMPANY FROM LIABILITY TO THE FULLEST
EXTENT PERMITTED BY LAW. AS OF THE DATE OF THIS AGREEMENT, THE RELEASE AGREEMENT
UTILIZED BY THE COMPANY FOR DEPARTING MANAGEMENT IS SUBSTANTIALLY AS SHOWN
BELOW. IT MAY BE REVISED FROM TIME TO TIME BY THE COMPANY IN ITS SOLE AND
ABSOLUTE DISCRETION.)
This Separation Agreement and General Release (this "AGREEMENT") is
made between ______ EMPLOYEE ("EMPLOYEE"), ___________________________________ ,
and Buffets, Inc., a corporation, and its subsidiaries and affiliated companies,
including but not limited to Buffets Holdings, Inc., HomeTown Buffet, Inc.,
Tahoe Joe's, Inc., Distinctive Dining, Inc., Restaurant Innovations, Inc., OCB
Restaurant Company, LLC. and OCB Purchasing Co., their divisions, names they are
conducting business under, their successors and assigns and any organizations in
any way related thereto (collectively referred to as "BUFFETS"). For the
purposes of this AGREEMENT, EMPLOYEE means EMPLOYEE and such other name he uses,
his attorneys, heirs, executors, administrators, assigns and spouse (if
applicable).
(BUFFETS WILL INSERT ADMINISTRATIVE DETAILS WITH RESPECT TO THE
SEPARATION OF EMPLOYMENT.)
REPRESENTATION TO THIRD PARTIES/VENDORS. EMPLOYEE agrees that he will
fully disclose to vendors and other outside parties with whom he is in contact,
that he is unable to bind or make commitments on behalf of BUFFETS.
CLAIMS INVOLVING BUFFETS. EMPLOYEE agrees he will not recommend or
suggest to any potential claimants, past or present employees, contractors of
BUFFETS or its subsidiaries and related companies, their attorneys, or agents
that they initiate claims or lawsuits against BUFFETS and/or any of its or their
directors, officers, attorneys or agents. EMPLOYEE will also not voluntarily
aid, assist, or cooperate with any claimants in any claims or lawsuits now
pending or commenced in the future against any of the said entities or
individuals. EMPLOYEE will cooperate with BUFFETS in defending any claim being
made against BUFFETS involving his employment and/or his activities as an
employee of BUFFETS. However, nothing in this paragraph will be construed to
prevent EMPLOYEE from providing truthful testimony in response to direct
questions asked pursuant to a lawful subpoena in any legal proceedings.
REFERENCES. EMPLOYEE agrees to direct or cause to be directed all
future requests for references concerning his employment to the Human Resources
Department of BUFFETS, located at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇, ▇▇ or Buffets, Inc.'s
CEO. The Human Resources Department will respond to all future requests for
references concerning EMPLOYEE by confirming the dates of his employment with
BUFFETS and identifying the last position that he held while working for
BUFFETS. EMPLOYEE will direct any references requests beyond the above to
Buffets, Inc.'s CEO.
NON-DISPARAGEMENT. EMPLOYEE agrees not to disparage BUFFETS or make any
verbal or written defamatory, false or misleading comments or opinions to others
including, but not limited to, third party vendors, brokers or anyone or any
entity that he has had contact with while employed by BUFFETS. The parties agree
that this provision is a substantial provision of this AGREEMENT. EMPLOYEE
agrees that if he violates this provision, he will pay BUFFETS (within ten (10)
business days of the violation or when BUFFETS discovers the violation) the sum
of ___________________ for each violation, payable in cash or certified check.
RELEASE OF CLAIMS. EMPLOYEE HEREBY ABSOLUTELY AND UNCONDITIONALLY
RELEASES, AND QUITS AND FOREVER DISCHARGES BUFFETS, BUFFETS, INC. AND ITS
SUBSIDIARIES, AFFILIATED COMPANIES, DIVISIONS, NAMES IT IS CONDUCTING BUSINESS
UNDER, PREDECESSORS, SUCCESSORS, ASSIGNS, ANY ORGANIZATION WHICH IN ANY WAY IS
RELATED TO BUFFETS, INC. AND, IT/THEIR, PAST AND PRESENT, DIRECTORS, OFFICERS,
EMPLOYEES, ATTORNEYS, AGENTS, MEMBERS, INSURERS AND/OR ANY OTHER REPRESENTATIVES
OF AND FROM ANY AND ALL CLAIMS, DISPUTES, DEMANDS, ACTIONS, SUITS, CONTRACTS,
DEBTS, AGREEMENTS, DAMAGES, INCLUDING ATTORNEY'S FEES, JUDGMENTS, EXECUTIONS,
COSTS, EXPENSES AND OTHER LIABILITIES WHATSOEVER, WHETHER LIQUIDATED OR
UN-LIQUIDATED, ABSOLUTE OR CONTINGENT, INCLUDING BUT NOT LIMITED TO, CLAIMS FOR
BREACH OF CONTRACT, IMPLIED PROMISE, BREACH OF FIDUCIARY DUTY, FORESEEN OR
UNFORESEEN, INTERFERENCE WITH CONTRACTUAL RELATIONS, PROMISSORY ESTOPPEL, BREACH
OF EMPLOYEE HANDBOOK MANUALS OR POLICIES, ANY OTHER COMMON LAW TORTS,
NEGLIGENCE, RETALIATION, DEFAMATION, WHISTLEBLOWER, FAILURE TO PAY WAGES AND/OR
BENEFITS, STATUTORY OR ORDINANCE VIOLATIONS, INCLUDING BUT NOT LIMITED TO, THE
AMERICANS WITH DISABILITIES ACT, THE REHABILITATION ACT OF 1973, THE MINNESOTA
HUMAN RIGHTS ACT, THE WISCONSIN FAIR EMPLOYMENT LAW, THE AGE DISCRIMINATION
EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964 AND AS AMENDED BY THE
CIVIL RIGHTS ACT OF 1991, THE EMPLOYEE RETIREMENT INCOME AND SECURITY ACT, THE
FAIR LABOR STANDARDS ACT, THE NATIONAL LABOR RELATIONS ACT, THE OCCUPATIONAL
SAFETY AND HEALTH ACT, THE FAMILY MEDICAL LEAVE ACT, THE OLDER WORKERS BENEFIT
PROTECTION ACT, AND ANY OTHER FEDERAL, STATE OR LOCAL LAW(S) OR ORDINANCES,
EXCEPT AS SPECIFICALLY EXCLUDED.
THIS RELEASE SPECIFICALLY EXCLUDES AND EXPLICITLY DOES NOT WAIVE ANY
CLAIMS EMPLOYEE MAY HAVE THAT ARISE AFTER HE SIGNS AGREEMENT AND/OR EMPLOYEE'S
RIGHTS OR CLAIMS TO (1) ANY PROPERLY PREVIOUSLY-INCURRED, BUT NOT REIMBURSED,
BUSINESS EXPENSES AS OF THE DATE HE SIGNS AGREEMENT, (2) COBRA CONTINUATION
BENEFITS, (3) ANY 401(K) VESTED BENEFITS MAINTAINED BY BUFFETS, (4)
INDEMNIFICATION UNDER THE BY-LAWS OF BUFFETS, THE LAWS OF THE STATE OF MINNESOTA
OR ANY OTHER INDEMNIFICATION AGREEMENT COVERING EMPLOYEE OR (5) FILE A CHARGE
WITH THE EQUAL EMPLOYMENT OPPORTUNITY COMMISSION ("EEOC") AND/OR ANY STATE HUMAN
RIGHTS DEPARTMENTS, INCLUDING BUT NOT LIMITED TO THE MINNESOTA DEPARTMENT OF
HUMAN RIGHTS, THE WISCONSIN DEPARTMENT OF WORKFORCE DEVELOPMENT, EQUAL RIGHTS
DIVISION, CALIFORNIA DEPARTMENT OF FAIR EMPLOYMENT AND HOUSING, OR RELATED
AGENCY, OR TO PARTICIPATE IN ANY INVESTIGATION OR PROCEEDING CONDUCTED BY THE
EEOC OR ABOVE REFERENCED AGENCIES OR DEPARTMENTS; HOWEVER, HE EXPLICITLY WAIVES
ANY RIGHTS TO FILE A PERSONAL LAWSUIT OR TO RECEIVE MONETARY DAMAGES THAT THE
EEOC AND/OR ANY HUMAN RIGHTS DEPARTMENT OR AGENCY MAY RECOVER.
EMPLOYEE HEREBY WAIVES ALL RIGHTS HE MAY HAVE UNDER THE PROVISION OF
SECTION 1542 OF THE CIVIL CODE OF CALIFORNIA, WHICH READS IN PART, "A GENERAL
RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST
HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR." EMPLOYEE UNDERSTANDS
THE ABOVE QUOTED LANGUAGE OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE, AND
KNOWINGLY ENTERS INTO THIS AGREEMENT BECAUSE IT IS HIS INTENTION TO FOREVER
DISCHARGE BUFFETS FROM ANY AND ALL CLAIMS, KNOWN OR UNKNOWN, WITH THE EXCEPTION
STATED ABOVE.
COVENANT NOT TO COMPETE, CONFIDENTIALITY AND NON-INDUCEMENT AGREEMENTS.
EMPLOYEE has executed various agreements not to compete with BUFFETS, to
maintain the confidentiality of BUFFETS' trade secrets and confidential
information, and not to hire or solicit the employees of BUFFETS. This AGREEMENT
does not alter or affect the enforceability of any of such covenants, which
remain in full force and effect.
NON-ADMISSION. Nothing in this AGREEMENT is intended to be, nor will it
be deemed to be, an admission of liability by BUFFETS that it has violated any
state or federal statutes or laws, local ordinances, or principles of common
law, or that it has engaged in any wrongdoing.
(BUFFETS WILL INSERT CURRENT PROVISIONS REGARDING STATUTORY REVOCATION
AND RESCISSION PERIODS.)
EFFECT OF REVOCATION OR RESCISSION. EMPLOYEE understands that, if he
revokes or rescindes this AGREEMENT, all of BUFFETS' obligations under this
AGREEMENT will immediately cease, and BUFFETS will not pay EMPLOYEE any of the
money or benefits in this AGREEMENT. In addition, severance benefits as
described in this AGREEMENT will be reduced by an amount equal to any payments
required to be made under the Workers' Adjustment and Retraining Notification
Act (WARN).
INVALIDITY. In case any one or more of the provisions of this AGREEMENT
should be invalid, illegal, or unenforceable in any respect, the validity,
legality, and enforceability of the remaining provisions contained in this
AGREEMENT will not be affected or impaired.
GOVERNING LAW. This AGREEMENT will be construed and interpreted in
accordance with the laws of the State of Minnesota.
VOLUNTARY AND KNOWING ACTION. EMPLOYEE acknowledges that he has read
and understands the terms of this AGREEMENT and voluntarily agrees to all terms
and conditions herein. EMPLOYEE further agrees that he has had the right and
opportunity to review this AGREEMENT with his own legal counsel. EMPLOYEE is
relying upon his legal counsel's advice and/or his own individual counsel or
free act; he is not relying on the advice of any other individual or entity.
TAKE TIME TO READ AND CAREFULLY CONSIDER THIS
AGREEMENT AND ITS PROVISIONS BEFORE SIGNING IT!
Date: _________________________ ________________________________
Signature
________________________________
Employee Name
Before me, _______________________, subscribed and sworn to before me this
__________________ date of __________________, 2000, did execute the foregoing
release as of said date in the County of _______________, State of
_______________.
(Stamp)
________________________________
Notary Public
BUFFETS, INC.
Date: _________________________ _______________________________
By: ___________________________
Its: __________________________
