Document:

Exhibit101EmploymentTermLettertoTonyWoodard

EXHIBIT 10.1

May 13, 2014

Tony Woodard
1855 Bishop's Green Dr.
Marietta, GA  30062

ADDRESSEE ONLY – PERSONAL & CONFIDENTIAL

Dear Tony,
Thank you for stepping into the role of interim CFO and for assisting us with the transition. I have every confidence that you will provide leadership to the finance team while ensuring our business remains strong. You can count on the full support of the Leadership Team and me as you take on these new responsibilities. 
I am pleased to confirm that the Board has unanimously approved to add a $10,000.00 (before taxes) monthly premium to your base salary for each month (or part of) you serve as interim CFO. Your annual bonus will be calculated against your total base salary earnings for the year versus your base salary at year end.

In addition you will also be eligible for the following:

	
		
	Award
	Terms & Condition

	Retention Award
A guaranteed cash retention award 
	The cash retention award will be  equal in value to the STIP for VPs (30% of base salary),and 
The award will be paid in March, 2015 after 10K filing

	Amended Severance Agreement
You are eligible for the amended severance policy from 6 months to 12 months
	The amended severance agreement is in effect for the later of one year, or 6 months after the start date of the new CFO
This contingency payment will only be paid if you are terminated without cause during this period

	2012 – 2014 LITP Grant
You are eligible for the three year 2012 – 2014 LTIP Grant
	The  three year (2012 – 2014) LTIP grant is scheduled to vest in April 2015
In the event you are terminated without cause prior to the vesting date, you will be eligible to receive the award on the same terms as others receiving the award

Congratulations Tony. This recognition is a reflection of my appreciation for the competence and character you will bring to your role.  We are grateful to have you on the team.

Sincerely,

/s/ Cheryl A. Bachelder
Cheryl A. Bachelder
Chief Executive OfficerExhibit102LetterreSeveranceAgreementtoTonyWoodard

EXHIBIT 10.2

May 13, 2014

Mr. Tony Woodard
1855 Bishop’s Green Drive
Marietta, GA 30062

Re:  Severance Arrangements

Dear Tony:

With the recent announcement of Mel Hope’s departure in May, Popeyes Louisiana Kitchen, Inc. (the “Company”) would like to confirm with you that you have been identified as a “Key Employee”.  The Company believes you are a key participant in its financial functions and would like to retain the continued benefit of your services, and minimize the impact that the recent announcement might have on your long term employment opportunities with the Company. 

Therefore, the Company would like to enhance your current severance pay to which you otherwise may be entitled under the Company’s current severance plan.  The following terms will now cover your severance benefits until the later of one (1) year from the date of this letter agreement, or six (6) months after the start of employment by the new CFO of the Company (the “Transition Period”):

		
	1.
	As a “Key Employee” you will have the opportunity to receive, instead of the current six (6) months severance pay described in the Company’s current severance plan, the amount of twelve (12) months of severance pay based upon your annualized base salary less applicable holdings at the time of severance.  The payments will be made either in lump sum or salary continuation, as determined by the Company.

		
	2.
	Eligibility for the severance benefits described herein will be triggered by your “Eligible Termination” during the Transition Period.  This generally means that you will be eligible for severance benefits if your employment with the Company is involuntarily terminated by the Company without Cause (as hereinafter defined); but you will not be eligible if you are terminated for Cause, if you voluntarily terminate your employment with the Company, if your employment ends because of your death or disability, or there is otherwise a separation of service (as defined in the IRS tax code and related income tax regulations).  Payment of these severance benefits is further conditioned upon your completion of any reasonably required transition assignments designated by the Company and the execution of a general release of the Company, and any such payments will be made in accordance with the applicable provisions of the IRS tax code and related income tax regulations.

The term "Cause" shall mean (i) Employee commits fraud or is convicted of a crime involving moral turpitude, (ii) Employee, in carrying out his duties hereunder, has been guilty of gross neglect or gross misconduct resulting in harm to the Company or any of its subsidiaries or affiliates, (iii) Employee shall have failed to materially comply with the policies of the Company or shall have refused to follow or comply with the duly promulgated directives of the CEO or the Board, or (iv) Employee otherwise materially breaches a material term of this Agreement.

		
	3.
	Except as otherwise specified in this letter, all of the terms, conditions and benefits generally available under the Company’s standard severance plan will continue to apply to you. To the extent there is a conflict between the terms of this letter and the terms contained in the Company’s standard severance plan, then the terms of this letter shall control.

This letter agreement does not alter the at-will employment relationship the Company maintains with you, and the employment relationship may be terminated at any time with or without cause or notice either by you or the Company. Nothing in this Agreement prevents you at any time from seeking employment elsewhere, if you feel that is in your best interest. This Agreement is simply meant to reward you for your willingness to continue your employment pursuant to the terms herein.
Please feel free to contact me if you have any questions.

Sincerely,

/s/ Cheryl A. Bachelder
Cheryl A. Bachelder
Chief Executive OfficerExhibit103INDEMNIFICATIONAGREEMENT-TonyWoodard

EXHIBIT 10.3

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT, dated as of May 23, 2014, is made by and between Popeyes Louisiana Kitchen, Inc., a Minnesota corporation (the "Company"), and Tony W. Woodard, an employee of the Company ("Employee").

WHEREAS, Employee has been appointed as the Interim Chief Financial Officer of the Company effective May 23, 2014; and

WHEREAS, it will be difficult to retain key employees of the Company unless such employees are adequately indemnified against liabilities incurred and claims made in performance of their duties as employees of the Company; and

WHEREAS, it is in the best interests of the Company to retain such key employees by providing adequate indemnification by means of indemnification agreements with key individual employees.

NOW, THEREFORE, in consideration of Employee's continued service as an employee of the Company, and as an inducement to Employee to continue to serve as an employee of the Company, the Company and Employee agree as follows:

1.    Indemnification.  The Company agrees to indemnify and hold Employee harmless from and against any claims, liabilities, damages, judgments, penalties, fines or expenses of any type whatsoever incurred by Employee in or arising out of the status, capacities or activities of Employee as an employee of the Company to the maximum extent permitted under Minnesota Statutes, Section 302A.521 (attached hereto as Exhibit A) as in effect on the date hereof.

2.    Advances of Expenses.  Subject to Employee's execution of a written affirmation, satisfactory to the Company, of the Employee's good faith belief that the criteria for indemnification have been satisfied and to repay all amounts advanced by the Company if it is ultimately determined that the criteria for indemnification have not been satisfied, the Company shall advance all expenses incurred by Employee in connection with the investigation, defense, settlement or appeal of any proceeding, action or investigation to which Employee is a party or is threatened to be made a party arising out of the status, capacities or activities of Employee as an employee of the Company to the maximum extent permitted under Minnesota Statutes, Section 302.521, subd. 3 as in effect on the date of this Agreement upon the determination by the Company that the facts then known to those making the determination would not preclude indemnification under Section 502A.521, subd. 6 within 60 days after receipt of said written affirmation.  Employee shall have a reasonable right to appear in person and to be represented by counsel.

3.Other Rights of Employee.  The right of Employee to indemnification or advance 
of expenses pursuant to this Agreement shall not be exclusive of other rights Employee may have (i) under applicable law, (ii) pursuant to other agreements between the Company and Employee or 

1

the Company's Articles of Incorporation or Bylaws, or (iii) pursuant to any agreement with a third party (by way of insurance, indemnification or otherwise).

4.    Absolute Right to Indemnification and Advances of Expenses.  The Company agrees that it shall not, and the Company hereby waives all rights that it has or may have to, refuse to indemnify or advance expenses, or withhold payment of amounts for which Employee is indemnified hereunder, or for advance of expenses to Employee, based on any breach or alleged breach of any of the provisions of this Agreement by Employee or for any other reason whatsoever.  In the event Employee is required to bring any action to enforce Employee's rights or to collect monies due to Employee under this Agreement, and is successful in such action, the Company shall reimburse Employee for all of Employee's legal fees and expenses in bringing and pursuing such action.

5.    Amendments to Minnesota Statutes or Company's Articles of Incorporation or Bylaws.  The Company represents that its Bylaws provide for indemnification of Employee to the maximum extent permitted by Minnesota Statutes, Section 302A.521 as in effect on the date hereof and to the maximum extent required by this Agreement.  The Company shall not amend its Articles of Incorporation or Bylaws to reduce or eliminate the Employee's right to indemnification or advances provided for under this Agreement.  Any amendments to the Articles of Incorporation or Bylaws of the Company made subsequent to the date of this Agreement which reduce or eliminate rights of persons entitled to indemnification or advances under such Articles of Incorporation or Bylaws shall not limit the rights of Employee pursuant to this Agreement.  If the Minnesota Statutes, the Articles of Incorporation or the Bylaws of the Company are amended so as to provide for greater indemnification rights or benefits, and Employee shall be entitled to such greater rights or benefits, and Employee shall be entitled to such greater rights and benefits immediately upon such amendment.  Subsequent amendments to the Minnesota Statutes or other applicable law shall in no way reduce Employee's rights under this Agreement.

6.    Maintenance of Insurance.  The Company represents that it presently has in force and effect directors and officers insurance under directors' and officers' liability insurance policies covering certain liabilities which may be incurred by its officers and directors.  The Company may maintain in effect, for the benefit of Employee, directors' and officers' insurance providing such coverage as may, from time to time, be determined by the Board of Directors of the Company, in its absolute discretion.

7.Notification.  Promptly after receipt by Employee of the Company of any notice 
or document respecting the commencement of any action, suit, proceeding or investigation naming or involving Employee and relating to any matter concerning which Employee may be entitled to indemnification or advances pursuant to this Agreement, the party receiving notice will notify the other of the receipt of same, but the failure by Employee to so notify the Company shall not relieve the Company from any obligation under this Agreement or otherwise.

8.    Amendment.  This Agreement may be amended at any time by written instrument executed by the Company and Employee.
9.    Notices.  All notices and other communications between the parties with respect to this Agreement must be made in writing and shall be deemed to have been fully delivered as of the 

2

date on which they are hand delivered or deposited in the United States mail for delivery by registered or certified mail, postage and fees prepaid.

10.    Binding Effect.  Due to the personal nature of the services to be rendered by Employee, Employee may not assign this Agreement.  Subject to the foregoing, the provisions of this Agreement are binding upon and inure to the benefit of (i) Employee and Employee's respective heirs, legal representatives and administrators, and (ii) the Company and its successors, transferees and assigns.

11.    Survival.  The obligations of the Company to Employee as provided in this Agreement shall survive and continue after Employee has ceased to be an employee of the Company.

12.    Validity.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

13.    Arbitration.  Any dispute or controversy arising under or in connection with this Agreement shall be discussed between the parties in a good faith effort to arrive at a mutual settlement of any such controversy.  If, notwithstanding the parties' good faith efforts, a dispute remains unresolved for a period of 45 days after initial notice from one party to the other of the dispute, the parties shall submit such dispute to arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award may be entered in any court having jurisdiction over the controversy.  The costs of the proceeding shall be paid by the Company.  Unless otherwise agreed upon, the place of arbitration proceedings shall be Fulton County, Georgia.

14.    Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota.

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written.

POPEYES LOUISIANA KITCHEN, INC.

/s/ Cheryl A. Bachelder
Cheryl A. Bachelder
Chief Executive Officer

EMPLOYEE:

/s/ Tony W. Woodard
Tony W. Woodard

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]