EXHIBIT NO. 10.5 FIRST AMENDMENT TO EMPLOYMENT AGREEMENT OF CHARLES COCOTAS DATED JANUARY 22, 2008
EXHIBIT NO. 10.5
This First Amendment (this “Amendment”) to the Employment Agreement of Xxxxxxx
Xxxxxxx, dated as of January 22, 2008 (the “Employment Agreement”), is made as of June
_____,
2010, pursuant to Section 13 of the Employment Agreement, by and between Xxxxxxx Xxxxxxx (the
“Executive”) and UFood Restaurant Group, Inc., a Nevada corporation (the
“Company”).
WHEREAS, the Company and the Executive desire to amend the Employment Agreement, as further
set forth herein, in order to extend the term of the Employment Agreement.
NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein, and
for other good and valuable consideration, the receipt of and sufficiency of which are hereby
acknowledged, the undersigned agree as follows:
1. Section 1 of the Employment Agreement is hereby deleted in its entirety and replaced with
the following:
Employment Period. The term of the Executive’s employment by the Company
pursuant to this Agreement (the “Employment Period”) shall commence on
January 22, 2008 and shall continue for a period of five (5) years. Thereafter,
the Employment Period shall automatically renew for successive periods of one (1)
year, unless either party shall have given to the other at least one hundred and
eighty (180) days’ prior written notice of their intention not to renew the
Executive’s employment prior to the end of the Employment Period or the then
applicable renewal term, as the case may be. In any event, the Employment Period
may be terminated as provided herein.
2. In connection with the execution of this Amendment, the Company shall grant to the
Executive non-qualified options to purchase 1,205,673 shares of the Company’s common stock at an
exercise price of $___ per share. One-half of the options shall vest upon the date of grant, and
the other half of the options shall vest in equal amounts on the first day of each month for
thirty-six months following the date of grant.
3. All other terms and conditions of the Employment Agreement shall remain unmodified and in
full force and effect.
[Signature Page Follows]
IN WITNESS WHEREOF, the parties have executed this First Amendment to Executive Employment
Agreement of Xxxxxxx Xxxxxxx, dated as of January 22, 2008, as of the date and year set forth
above.
| UFOOD RESTAURANT GROUP, INC. |
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| By: | ||||
| Name: | ||||
| Title: | ||||
| Xxxxxxx Xxxxxxx | ||||
