Exhibit 10.1.10
 
WAIVER
Dated as of November 15, 2002
 
This WAIVER (this “Waiver”) is among JACK IN THE BOX INC. (formerly Foodmaker,
Inc.), a Delaware corporation (the “Borrower”), the financial institutions and
other entities party to the Credit Agreement referred to below (the “Lenders”),
and BANK OF AMERICA, N.A. (formerly NationsBank, N.A. (successor to NationsBank
of Texas, N.A.)), as L/C Bank (as defined in the Credit Agreement) and as agent
(the “Agent”) for the Lenders and Issuing Banks thereunder.
 
PRELIMINARY STATEMENTS;
 
1.    The Borrower, the Lenders, the Arranger, the Documentation Agent and the
Agent have entered into a Credit Agreement dated as of April 1, 1998, as amended
by the First Amendment dated as of August 24, 1998, the Second Amendment dated
as of February 27, 1999, the Third Amendment dated as of September 17, 1999, the
Fourth Amendment dated as of December 6, 1999, the Fifth Amendment dated as of
May 3, 2000, the Sixth Amendment dated as of November 17, 2000, the Seventh
Amendment dated as of August 23, 2002 and the Eighth Amendment dated as of
September 27, 2002 (as so amended, the “Credit Agreement.”) Capitalized terms
used and not otherwise defined herein have the meanings assigned to such terms
in the Credit Agreement.
 
2.    The Borrower has requested that the Lenders waive the restrictions set
forth in Section 6.02(d), (f) and (i) of the Credit Agreement with respect to
the proposed formation by the Borrower of, and investment in, a new acquisition
subsidiary of Borrower (“Newco”) and the proposed acquisition of a target
company identified to the Agent prior to the date hereof (the “Target”) by
Borrower pursuant to a merger of Newco with and into the Target (or pursuant to
any alternative acquisition structure reasonably agreed to between Borrower and
Target, including without limitation an acquisition by Borrower of Newco of
substantially all of the assets and liabilities of Target) on substantially the
terms disclosed to the Agent prior to the date hereof (collectively, the
“Acquisition”).
 
3.    The Required Lenders are, on the terms and conditions stated below,
willing to grant the requests of the Borrower.
 
NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
 
SECTION 1.  Waiver.    Effective as of the date hereof and subject to
satisfaction of the conditions precedent set forth in Section 2 hereof, the
Required Lenders hereby waive the provisions of Sections 6.02(d) (f) and (i)
with respect to the Acquisition but only so long as: (i) the purchase price
(inclusive of assumed liabilities and contingent obligations reasonably expected
to be payable by Borrower and Newco, collectively, in connection with or as a
result of the Acquisition (including by way of example and not limitation,
earn-out and similar payments) does not exceed $50,000,000; (ii) the Acquisition
is consummated prior to January 31, 2003; and (iii) the Target is Solvent
immediately prior to and immediately after giving effect to the Acquisition.
 
SECTION 2.  Conditions to Effectiveness.    This Waiver shall not be effective
until each of the following conditions precedent shall have been satisfied:
 
(a)  the Agent shall have executed this Waiver and shall have received
counterparts of this Waiver executed by the Borrower and the Required Lenders
and counterparts of the Consent appended hereto (the “Consent”) executed by each
of the Guarantors listed therein (such Guarantors, together with the Borrower,
each a “Loan Party” and, collectively, the “Loan Parties”);

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(b)  each of the representations and warranties in Section 3 below shall be true
and correct; and
 
(c)  the Borrower shall have paid to the Agent (i) for the ratable benefit of
each Lender executing this waiver on or prior to November 11, 2002 a waiver fee
of 12 basis points on the Revolving Commitment on each such Lender and (ii) for
the ratable benefit of each Lender executing this waiver after November 11, 2002
and on or prior to November 15, 2002 a waiver fee of 9.5 basis points on the
Revolving Commitment of each such Lender.
 
SECTION 3.  Representations and Warranties.    The Borrower represents and
warrants as follows:
 
(a)  Authority.    The Borrower and each other Loan Party has the requisite
corporate power and authority to execute and deliver this Waiver and the
Consent, as applicable, and to perform its obligations hereunder the Loan
Documents (as amended hereby) to which it is a party. The execution, delivery
and performance by the Borrower of this Waiver and by each other Loan Party of
the Consent, and the performance by each Loan Party of each Loan Document (as
amended hereby) to which it is a party have been duly approved by all necessary
corporate action of such Loan Party and no other corporate proceedings on the
part of such Loan Party are necessary to consummate such transactions.
 
(b)  Enforceability.    This Waiver has been duly executed and delivered by the
Borrower. The Consent has been duly executed and delivered by each Guarantor.
This Waiver and each Loan Document (as amended hereby) is the legal, valid and
binding obligation of each Loan Party hereto and thereto, enforceable against
such Loan Party in accordance with its terms, and is in full force and effect.
 
(c)  Representations and Warranties.    The representations and warranties
contained in each Loan Document (other than any such representations and
warranties that, by their terms, are specifically made as of a date other than
the date hereof) and true and correct on and as of the date hereof as though
made on and as of the date hereof.
 
(d)  No Default.    No event has occurred and is continuing that constitutes a
Default or Event of Default.
 
SECTION 4.  Reference to and Effect on the Loan Documents.    (a) Upon and after
the effectiveness of this Waiver, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, “hereof” or words of like import referring to the
Credit Agreement, and each reference in the other Loan Documents to “the Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended hereby.
 
(b)  Except as specifically amended above, the Credit Agreement and the other
Loan Documents are and shall continue to be in full force and effect and are
hereby in all respects ratified and confirmed.
 
(c)  The execution, delivery and effectiveness of this Waiver shall not, expect
as expressly provided herein, operate as a waiver of any right, power or remedy
of any Lender, and Issuing Bank, the Arranger, the Documentation Agent of the
Agent under any or the Loan Documents, nor constitute a waiver or amendment of
any provision of any of the Loan Documents.
 
SECTION 5.  Counterparts.    This Waiver may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed to be an original and all
of which taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Waiver or the
Consent by facsimile shall be effective as delivery of a manually executed
counterpart or this Waiver of such Consent.
 
SECTION 6.  Governing Law.    This Waiver shall be governed by, and construed in
accordance with, the laws of the State of California.

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IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be executed by
their respective officers thereunto duly authorized, as of the date first
written above.
 
JACK IN THE BOX INC.
(successor to Foodmaker, Inc.),
a Delaware corporation
By:
 
HAROLD L. SACHS         

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Name:
Title:
 
Harold L. Sachs
Vice President and Treasurer

 
BANK OF AMERICA, NA.
as Agent
By:
 
CHITT SWAMIDASAN

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Name:
Title:
 
Chitt Swamidasan
Principal

 
Lenders
BANK OF AMERICA, NA.
By:
 
CHITT SWAMIDASAN    

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Name:
Title:
 
Chitt Swamidasan
Principal

 
CREDIT LYONNAIS
NEW YORK BRANCH
By:
 
DIANNE M. SCOTT        

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Name:
Title:
 
Dianne M. Scott
Senior Vice President

 
CREDIT LYONNAIS
NEW YORK BRANCH
By:
 
F. FRANK HERRERA      

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Name:
Title:
 
F. Frank Herrera
Vice President

 
 
 

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ROYAL BANK OF CANADA
By:
 
CHRIS ABE

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Name:
Title:
 
Chris Abe
Manager

 
UNION BANK OF CALIFORNIA, N.A.
By:
 
MYRA JUETIEN

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Name:
Title:
 
Myra Juetien
Vice President

 
FLEET NATIONAL BANK
By:
 
THOMAS P. TANSI

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Name:
Title:
 
Thomas P. Tansi
Director

 
NETEXIS BANQUE-BFCE
By:
 
FRANK H. MADDEN, JR.

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Name:
Title:
 
Frank H. Madden, Jr.
Vice President & Group Manager

 
By:
 
HARRIS FROMMER

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Name:
Title:
 
Harris Frommer
Assistant Vice President

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CONSENT
Dated as of November 15, 2002
 
The Undersigned, as Guarantors under the “Guaranty” (as much terms are defined
in and under the Credit Agreement referred to in the foregoing Waiver), hereby
consents and agrees to the foregoing Waiver and hereby confirms and agrees that
the Guaranty is, and shall continue to be, in full force and effect and is
hereby ratified and confirmed in all respects except that, upon the
effectiveness of, and on and after the date of, said Waiver, each reference in
the Guaranty to the “Credit Agreement”, “thereunder”, “thereof” and words of
like imports to the Credit Agreement shall mean and be a reference to the Credit
Agreement as amended by said Waiver.
 
FOODMAKER INTERNATIONAL
FRANCHISING, INC.
a Delaware corporation
By:
 
HAROLD L. SACHS        

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Name:
Title:
 
Harold L. Sachs
Vice President and Treasurer