Exhibit 10.2
  
 

RETENTION AGREEMENT
 
This Retention Agreement (the "Agreement") is made this 22nd day of July, 2004,
by and between THE MIDDLEBY CORPORATION, a Delaware corporation, (“Employer”)
and TIMOTHY J. FITZGERALD (“Employee”).
 
 
RECITALS
 
WHEREAS, Employee is a very valuable employee of Employer and Employer wishes to
provide an incentive for Employee to continue to remain in the Employee's
service.
 
 
AGREEMENT
 
NOW THEREFORE the parties agree as follows:
 
1.    In the event that for any reason whatsoever other than (i) termination of
Employee’s employment for “Cause”, as defined in the Severance Agreement by and
between Employee and Employer dated March 1, 2004, or (ii) voluntary resignation
by Employee prior to February 1, 2005, Employer does not offer, on or before
February 1, 2005, to enter into an employment agreement with Employee or
Employee does not accept such employment offer on or before February 1, 2005,
then Employer shall pay to Employee, not later than February 15, 2005, the sum
of $500,000.
 
IN WITNESS WHEREOF the parties hereto have executed this Agreement on the day
and year first above stated.
 

THE MIDDLEBY CORPORATION     TIMOTHY J. FITZGERALD                         
/s/ Selim A. Bassoul     /s/ Timothy J. FitzGerald

--------------------------------------------------------------------------------

   

--------------------------------------------------------------------------------

   

 

 

--------------------------------------------------------------------------------