EMPLOYMENT SEVERANCE AGREEMENT AND RELEASEEmployment Severance Agreement and Release • September 30th, 2003 • Piccadilly Cafeterias Inc • Retail-eating places • Louisiana
Piccadilly Cafeterias, Inc. (the “Company”) and Ronald A. LaBorde (the “Employee”) hereby agree effective the 4th day of May, 2003 (the “Agreement Date”) as follows:
June 11, 2003Piccadilly Cafeterias Inc • September 30th, 2003 • Retail-eating places • Pennsylvania
This letter amends and restates the letter agreement dated May 5, 2003 between PMCM, LLC (“PMCM”) and Piccadilly Cafeterias, Inc. (the “Company”) for the engagement of PMCM to provide crisis management services by making available certain temporary employees to the Company for the purpose of assisting in its restructuring as described below (the “Agreement”). You have requested that PMCM modify its engagement a second time as set forth herein, and PMCM is willing to do so. Generally, the engagement of PMCM, including any PMCM employees who serve in Executive Officer positions, shall be under the approval of the Board of Directors of the Company (the “Board of Directors”). (The letter agreement in the form prior to this amendment and restatement shall continue to govern for periods prior to the date hereof.)
