CHANGE IN CONTROL SEVERANCE AGREEMENT MONTEREY GOURMET FOODS, INC. RECITALSChange in Control Severance Agreement • May 22nd, 2008 • Monterey Gourmet Foods • Miscellaneous food preparations & kindred products
WHEREAS, the Board of Directors of Monterey Gourmet Foods, Inc. (“Company”), recognizing that a change in control of the Company (as hereinafter defined) could occur, that its threat or occurrence could result in significant distraction of personnel, and that it is in the best interest of the Company to retain the services of its principal executive employees (“Executives”) and to ensure their continued dedication and efforts without undue concern for their personal financial and employment security, has establish a plan “Plan”) for such purposes; and
