Document:

Q2 2011 Exhibit 10.4

Exhibit 10.4

THIS NOTE AND THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND MAY NOT BE SOLD, TRANSFERRED,
ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR THE COMPANY
RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE
COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

Amended and Revised Convertible Promissory Note

                  For

                  Services Rendered

                  By

                  Presence/Dynamic Presence Marketing Companies on behalf of OmniPresence Holdings, LLC

                  To

                  Cell-nique Corporation

CONVERTIBLE PROMISSORY NOTE 

	
Grid Note 
	
Date of Issuance: June 1st, 2011 

Cell-nique Corporation, a Delaware corporation (the "Company"), for value
received hereby promises to pay to OmniPresence Holdings, LLC, an Illinois limited liability company
("OmniPresence"), or his registered assigns (the "Holder") for services rendered through
its affiliate Presence/Dynamic Presence Marketing Companies (collectively "Presence") which shall represent Cell-nique
Corporation (the "Company") as the Company's sales broker (the "Broker") in the natural foods class of
trade throughout the United States.  The parties have entered into an amended and revised Brokerage Agreement dated June 1st,
2011 that will fully describe the services and engagement provided by Presence on behalf of the Company and its brands.
Compensation earned by Presence Brokerage Agreement shall accrue monthly to Holder's the outstanding balance of the Convertible
Promissory Note hereof subject to default under the Brokerage Agreement. 

The principal sum shall be updated from time-time on attached Exhibit A Grid to the extent that the value of the services
provided by Presence or if partial convention such lesser amount as shall equal the then outstanding principal amount hereof including
accrued and unpaid interest on such outstanding principal amount at the rate of zero percent (0%) per annum, as set forth below, on
the date forty-eight months (48) months after the date of this Note, written above
("Maturity").  Payment for all amounts due hereunder shall be made by wire transfer in
accordance with the Holder's instructions.

The following is a statement of the rights of the Holder and the conditions to which this Note is subject, and to which the Holder, by
the acceptance of this Note, agrees:

1.   Payment of Principal and Interest. 

          (a)  Payment
in Full on Maturity.  Unless this Note is sooner prepaid or converted pursuant to Section 3 hereof or
sooner becomes due and payable under Section 2 hereof, all outstanding principal of and accrued but unpaid interest on this Note shall
be paid in full on Maturity.

          (b)
Interest.  Interest shall accrue on the outstanding principal amount of this Note, at the rate of Zero percent (0%)
per annum (the "Coupon Rate") computed on the basis of a 360-day year (twelve thirty-day
months), from the date such principal amount is advanced to the Company until the earlier of (i) the payment in full of all
outstanding principal of and accrued interest on this Note, or (ii) the conversion of this Note into capital stock of the Company
pursuant to Section 3 hereof.  All payments made under this Note shall be applied first against accrued but unpaid
interest and second against the outstanding principal balance hereof. 

2.   Events of Default.  If one or more of the following events (each an
"Event of Default") shall occur:

        (a)  the Company
shall fail to pay in full any principal, accrued interest or other amounts due to Holder under this Note when due;

        (b)  the Company
shall default in the performance of or compliance with any covenant, agreement or other obligation of the Company contained in this
Note that is not remedied, waived or cured within fifteen (15) days following such default in performance or noncompliance;

(c)  any representation or warranty of the Company contained herein shall prove to
have been false or incorrect in any material respect as of the date of this Note;

        (d)  the Company
shall default (as principal, guarantor or other surety) in the payment of any principal of, premium (if any) or interest on any indebtedness
for borrowed money to any other party, or shall default in the performance of or compliance with any other obligation contained in the
documentation evidencing or securing any such other indebtedness, and in connection with such default such indebtedness becomes
due and payable prior to the date it would otherwise become due and payable, or the Company shall fail to pay such indebtedness at its
stated maturity;

        (e)  other than on
terms approved beforehand by the Holder, the Company shall institute proceedings to be adjudicated as bankrupt or insolvent, or shall
consent to institution of bankruptcy or insolvency proceedings against it or the filing by it of a petition or answer or consent seeking
reorganization or release under Title XI of the United States Code, or any other applicable federal or state law, or shall consent to the
filing of any such petition or the appointment of a receiver, liquidator, assignee, trustee or other similar official of the Company, or of any
substantial part of its property, or shall make an assignment for the benefit of creditors, or shall take corporate action in furtherance of
any such action;

        (f)  within thirty (30)
days after the commencement of an action against the Company (and service of process in connection therewith on the Company)
seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution, or similar relief under any present or future statute, law, or
regulation, such action shall not have been resolved in favor of the Company or all orders or
proceedings thereunder affecting the operations or the business of the Company stayed, or the stay of any such
order or proceeding shall thereafter be set aside, or within thirty (30) days after the appointment without the consent or acquiescence of
the Company of any trustee, receiver or liquidator of the Company, such appointment shall not have been vacated;

        (g)  entry of a final judgment in
excess of $2,000,000 (excluding insured portions) against the Company or for which the Company is otherwise responsible that is not
stayed, bonded or discharged within thirty (30) days;

        (h)  any plan of liquidation or
dissolution or winding up is adopted by the Company's board of directors or shareholders or the Company is involuntarily dissolved or
otherwise wound up; or

        (i)  there shall occur, or the Company
shall enter into any agreement providing for, a Change of Control (as defined below) of the Company; the term
"Change of Control" shall mean any transaction or series of related transactions (including without
limitation any reorganization, merger, consolidation, sale of assets or sale of stock) that will result in (i) the sale of all or
substantially all of the assets of the Company, (ii) a change in ownership of 80% or more of the Company's then outstanding
capital stock, in one or a series of transactions occurring within a period of six (6) months, other than any such change of ownership
resulting from the sale by the Company of its securities in connection with one or more financing transactions, or (iii) a
consolidation or merger of the Company with or into any other corporation or corporations (or other corporate reorganization)
immediately after which the shareholders of the Company hold less than fifty percent (50%) of the voting power of the surviving
corporation;

then, upon the occurrence of any Event of Default described in paragraph (a), (d), (e), (f), (h) or (i) above, all outstanding principal
of this Note and all accrued but unpaid interest thereon shall be accelerated automatically, without any further action by any party, and
shall become immediately due and payable notwithstanding any other provision of this Note, without presentment, demand, protest,
notice of protest or other notice of dishonor of any kind, all of which are hereby expressly waived by the Company; and upon the
occurrence of any other Event of Default described in the other paragraphs above, Holder may, at Holder's option exercisable at any
time thereafter, by notice to the Company in writing, accelerate this Note and declare the entire outstanding principal balance of this
Note and all accrued but unpaid interest thereon immediately due and payable, without presentment, demand, protest, notice of protest
or other notice of dishonor of any kind, all of which are hereby expressly waived by the Company.  At any time following any
such acceleration as provided in the preceding sentence, Holder may at its option convert this Note in whole or in part into shares of
New Preferred (as defined in Section 3(b) below) at the Default Conversion Price by written notice to the Company.  Holder
may enforce its rights under this Note and otherwise at law or in equity or both, all remedies available to Holder under this Note or
otherwise shall be cumulative, and no course of dealing between the Company and Holder or any delay or omission in exercising any
power or right shall operate as a waiver thereof.  The Company shall notify the Holder immediately in writing of the occurrence
of any Event of Default, which notification shall include a summary of the material facts relating to such Event of Default and shall
specify the date on which such Event of Default occurred.

3.   Conversion.  The outstanding principal amount of and any accrued but
unpaid interest under this Note shall be convertible into capital stock of the Company as follows:

        (a)  Conversion
on Change of Control. In the event of an acquisition of the Company or substantially all of its assets, the principal amount
and all accrued interest then outstanding under the Note Shall become immediately due and payable or the common stock shall be
converted.  In the event of a change in control or an acquisition of the Company or substantially all of its assets and either (a) the
Company shall have the first right to pay the greater of the full amount due or a minimum of $12,500 per month for the pro rated period
in effect within 30 days after said change of control event or (b) if Company permits OmniPresence to Convert, OmniPresence may be
allowed to convert its Note to common stock as part of such transaction at same valuation herein, the outstanding principal amount and
accrued interest of this Note or a minimum amount pro rated at $12,500 per month for the pro rated period in effect shall be converted
automatically, without any further act of the Company or its shareholders, into fully
paid and nonassessable shares of Common Stock of the Company in lieu of repayment of all outstanding
principal and accrued interest under this Note.  Any such conversion shall be deemed to occur at the close of business on
either the date of Conversion.  The number of shares of Common stock issuable upon conversion under this paragraph shall
be determined by dividing the outstanding principal balance plus all accrued and unpaid interest hereunder through the Conversion
date by either (i) the same equity valuation as change of control occurred (the "Default Conversion
Price") or (c) Notwithstanding full payment of the Note and permitted conversion, if OmniPresence is
restricted by the Company's change of control transaction said Note shall be due immediately and OmniPresence shall be entitled to
penalty increase equal to 125% of the face value of the outstanding balance of the unconverted unpaid Notes or a minimum amount pro
rated at $12,500 per month for the pro rated period in effect. 

        (b)  Default Mandatory
Conversion.  In the event that the conditions to change of control conversion into Common
Stock pursuant to paragraph (a) above are not satisfied during the period between the date of this Note and Maturity, then the
outstanding principal amount and accrued interest of this Note or a minimum amount pro rated at $12,500 per month for the pro rated
period in effect shall be converted automatically, without any further act of the Company or its shareholders, into fully paid
and nonassessable shares of Common Stock of the Company in lieu of repayment of all outstanding principal and
accrued interest under this Note.  Any such conversion shall be deemed to occur at the close of business on the date of
Maturity.  The number of shares of Common stock issuable upon conversion under this paragraph shall be determined by
dividing the outstanding principal balance plus all accrued and unpaid interest hereunder through the Maturity date by current market
price per share as traded in the public market or if not traded the most recently completed deal where share price has been determined
by third party (the "Default Conversion Price"). 

        (c)  Note Holder
Conversion.  The Note Holder may elect at any time to convert the outstanding principal
amount and accrued interest of this Note, without any further act of the Company or its shareholders, into fully paid
and nonassessable shares of Common Stock of the Company in lieu of repayment of all outstanding principal and
accrued interest under this Note.  Any such conversion shall be deemed to occur on the notice date and Company shall issued
stock within 3 business days.  The number of shares of Common stock issuable upon conversion under this paragraph shall
be determined by dividing the amount Note Holder desires to convert which shall be subtracted from the grid on Exhibit A hereunder
through the Notice date by current closing market price per share as traded in the public market or if not traded the most recently
completed deal where share price has been determined by third party (the "Note Holders Conversion
Price"). 

Holder to have Registration Rights upon Conversion.  In connection with any mandatory
conversion of this Note into Common Stock, the Company shall ensure that the Holder is made a party, on the same basis as other
investors to any registration rights agreement, investors rights agreement, shareholders agreement, or other agreements setting forth
the rights being granted to such investors in connection future Offering or upon expiration of 144 restrictions.

        (d)  Mechanics of Conversion.

             (i)  Upon conversion of
this Note under paragraph 3(a) or 3(b) above, all amounts due and owing under this Note shall be converted automatically, without any
further action by the Holder and whether or not this Note is surrendered to the Company, into fully paid
and nonassessable shares of Common Stock, which shall be deemed issued and outstanding for all purposes from
and after the time of such conversion as specified in paragraph 3(a) or 3(b) above.  As promptly as possible after such
conversion, the Company shall issue to the Holder a certificate representing the number of shares of Common Stock, as applicable,
issuable upon such conversion in accordance with the terms of this Note (the shares actually issuable hereunder being referred to as
the "Conversion Shares") and a cash payment in lieu of any fractional share otherwise issuable
upon such conversion, in accordance with paragraph 3(e) below; provided, however, that the Company shall not
be obligated to issue to the Holder such certificate or check unless and until this Note, or an appropriate affidavit of loss, is delivered to
the Company. 

             (ii) In the event of any
conversion of this Note under this Section 3, the person in whose name the certificate for Conversion Shares is to be issued shall be
deemed to have become a holder of record of such Conversion Shares on the date as of which conversion is deemed to occur as
specified in paragraphs 3(a) and 3(b) above, as the case may be. 

(iii)     Whichever of the higher Conversion Price or the Default Conversion Price is the conversion
price at which this Note is actually converted under this Section 3 shall be referred to herein as the "Note Conversion
Price".

        (e)  Fractional Shares.  No
fractional Conversion Shares or scrip shall be issued upon conversion of this Note.  Instead of any fractional Conversion
Shares that would otherwise be issuable upon conversion of this Note, the Company shall pay a cash adjustment in respect of such
fractional interest in an amount equal to that fractional interest of the price at which the Note was converted, as applicable.

        (f)  Stock Dividends, Splits and
Combinations.  If the number of shares of the class of capital stock of the Company issuable upon conversion of
this Note outstanding at any time after the date of issuance of this Note (the "Issue Date") is
increased by a stock dividend or other distribution payable in shares of such stock or by a subdivision, split-up or reclassification of
outstanding shares of such stock, then immediately after the record date fixed for the determination of stockholders entitled to receive
such stock dividend or the effective date of such subdivision, split-up or reclassification, as the case may be, the Conversion Price or
the Default Conversion Price, as applicable, shall be reduced appropriately so that the Holder shall be entitled to receive the number of
Conversion Shares that it would have owned immediately following such action had this Note been converted immediately prior
thereto.  If the number of shares of the class of capital stock of the Company issuable upon conversion of this Note
outstanding at any time after the Issue Date is decreased by a combination or reclassification of the outstanding Conversion Shares,
then, immediately after the effective date of such combination or reclassification, the Conversion Price or the Default Conversion Price,
as applicable, shall be increased appropriately so that the Holder shall be entitled to receive the number of Conversion Shares that it
would have owned immediately following such action had this Note been converted immediately prior thereto.

        (g)  Certain Adjustments.
The Note Conversion Price shall be adjusted up or down, as the case may be, to take into account any stock split, combination, stock
dividend, recapitalization or similar event after the date hereof with respect to the Company's common stock or any other class of
capital stock of the Company in order that the number of shares of Common Stock, as applicable, issuable upon conversion of this Note
and the number of shares of the Company's Common Stock issuable upon conversion of the Common Stock, as applicable, issuable
upon conversion of this Note will not be adversely or positively affected by any such event. 

        (h)  Capital Reorganization or
Reclassification.  If the Conversion Shares shall be changed into the same or a different number of shares of any
class or classes of stock or other property, whether by capital reorganization, reclassification or otherwise (other than a subdivision or
combination of shares or stock dividend provided for above), then in each such event the Holder shall have the right thereafter to
convert this Note into the kind and amount of shares of stock and other securities and property that would have been receivable upon
such reorganization, reclassification or other change in respect of the number of Conversion Shares into which this Note could have
been converted immediately prior to such reorganization, reclassification or change, all subject to further adjustment as provided
herein.

        (i)  Merger or Consolidation.
Subject to the terms of Section 2(i) above, if at any time or from time to time there shall be an acquisition of the Company by another
entity by means of merger, consolidation or otherwise, resulting in the exchange of the outstanding Conversion Shares for securities or
consideration issued or caused to be issued by the acquiring entity or any of its affiliates, then, as a part of such acquisition, provision
shall be made so that the Holder shall thereafter be entitled to receive, upon conversion of this Note, the number of shares of stock or
other securities or property of the acquiring corporation resulting from such acquisition to which the Holder would have been entitled if
the Holder had converted this Note immediately prior to such acquisition.  In any such case appropriate adjustments shall be
made in the application of the provisions of this Section 3(i) with respect to the rights of the Holder after such acquisition to the
end that the provisions of this Section 3(i) shall be applicable after that event in as nearly equivalent a manner as may be
practicable.

        (j)  Notice to
Holders.  In the event the Company shall propose to take any action of the type described in
Sections 3(f), (g), (h), or (i), the Company shall give notice to the Holder, which notice shall specify the record date, if any, with
respect to any such action and the approximate date on which such action is to take place.  Such notice shall also set forth
such facts with respect thereto as shall be reasonably necessary to indicate the effect of such action (to the extent such effect may be
known at the date of such notice) on the Conversion Price or the Default Conversion Price, as applicable, and the number, kind or class
of shares or other securities or property which shall be deliverable or purchasable upon the occurrence of such action or deliverable
upon conversion of this Note.  In the case of any action that would require the fixing of a record date, such notice shall be
given at least fifteen (15) days prior to the date so fixed, and in case of all other action, such notice shall be given at least twenty (20)
days prior to the taking of such proposed action.  Failure to give such notice, or any defect therein, shall not affect the legality
or validity of any such action.

        (k)  Costs.  The Company
shall pay all documentary, stamp, transfer or other transactional taxes attributable to the issuance or delivery of Conversion Shares
upon conversion of this Note; provided, however, that the Company shall not be required to pay any taxes which
may be payable in respect of any transfer involved in the issuance or delivery of any certificate for such shares in a name other than
that of the Holder.

        (l)  Reservation of Shares.
The Company shall take all necessary action to reserve, and shall reserve at all times so long as any principal amount under this Note
remains outstanding, free from statutory or contractual preemptive rights, out of its authorized but unissued capital stock, solely for the
purpose of effecting the conversion of this Note, sufficient shares of Common Stock to provide for conversion of the Conversion Shares
into Company Common Stock.

        (m)  No Impairment.  The
Company will not, by amendment of its Amended and Restated Articles of Incorporation or through any reorganization, transfer of
assets, issuance or sale of securities or otherwise, avoid or seek to avoid the observance or performance of any of the terms of this
Section 3 or the other provisions of this Note and will at all times in good faith assist in the carrying out of all provisions hereof and in
the taking of all actions as may be necessary in order to protect the conversion and other rights of the Holder hereunder against
impairment.

4.   Assignment.  Subject to the restrictions on transfer described in
Section 6 below, the rights and obligations of the Company and the Holder shall be binding upon and benefit the successors,
assigns, heirs, administrators and transferees of the parties.

5.   Waiver and Amendment.  Any provision of this Note may be amended,
waived or modified upon the written consent of the Company and the Holder.  Any amendment, waiver, modification or
consent entered into pursuant to this Section 5 shall be effective only in the specific instance and for the specific purpose for which it
was given.

6.   Transfer of this Note.  The Holder understands that the Company will
instruct any transfer agent not to register the transfer of this Note (or the Conversion Shares issued upon conversion of this Note)
unless the conditions specified in the legend set out in all capital letters at the top of this Note are satisfied.

7.   Notices. All notices and other communications required or permitted hereunder shall
be in writing and shall be deemed effectively given upon personal delivery; upon confirmed transmission by telecopy or telex if sent
during normal business hours of the recipient (or if not, on the next business day of the recipient); three days after deposit with the
United States Post Office, by registered or certified mail, postage prepaid; or otherwise upon delivery by hand or by messenger or one
day after deposit with a nationally recognized courier service, addressed (a) if to Holder, to the Holder's address as set forth
below, or to such other address as such Holder shall have furnished to the Company in writing, or (b) if to the Company, if to
the Company, one copy shall be sent to Cell-nique Corporation, PO Box 1131 Weston, CT 06883 Attention: Dan Ratner, President, or
to such other addresses as the Company shall have furnished to the Holder.

8.   No Rights of a Shareholder.  Nothing contained in this Note shall be
construed as conferring upon the Holder or any other person the right to vote or consent or to receive notice as a shareholder in respect
of meetings of shareholders for the election of directors of the Company or any other matters or any rights whatsoever as a shareholder
of the Company prior to the time that this Note is converted into Conversion Shares pursuant to Section 3.

9.   Governing Law.  The Agreement shall be governed by, and construed
under, the laws of the State of Connecticut.

10.  Collection Costs.  The Company shall pay on demand all reasonable costs and
expenses, including without limitation reasonable fees and expenses of counsel, incurred by Holder in connection with enforcement of
its rights under this Note.

11.  Lost, Stolen or Mutilated Note.  If this Note is lost, stolen, mutilated or destroyed,
the Company will, on such reasonable terms with respect to indemnity or otherwise as it may in its discretion impose, issue a new note
of like denomination, tenor, and date as this Note.  Any such new note shall constitute an original contractual obligation of the
Company, and the lost, stolen, mutilated or destroyed, as applicable, Note shall be null and void.

12.  Counterparts.  This Note may be executed in counterparts, each of which shall be
enforceable against the party actually executing such counterpart, and which together shall constitute one instrument.

SIGNATURE PAGE TO FOLLOW

CONVERTIBLE PROMISSORY NOTE

 

This Note has been executed and delivered as of the date first above written.

COMPANY: Cell-nique Corporation

By ______________________________

   Dan Ratner, President

ACCEPTED AND AGREED:

HOLDER: OmniPresence Holdings, LLC

 

By _______________________, Title ______________________________

Address: 

   12 Executive Ct., Suite 1

   South Barrington, IL 60010ex10_5.htm

Exhibit 10.5

AMENDMENT NO. 1 TO

RETENTION AGREEMENT

This AMENDMENT NO. 1 TO RETENTION AGREEMENT (the “Amendment”), dated as of October 19, 2011, is by and between Cracker Barrel Old Country Store, Inc. (the “Company”) and Doug Barber (the “Executive”).

WHEREAS, the Company and the Executive entered into an Employee Retention Agreement dated April 23, 2008 (the “Retention Agreement”); and

WHEREAS, the Company and the Executive mutually desire to amend the Retention Agreement to accord with the Company’s current policy regarding Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder and to make other technical changes thereto.

NOW, THEREFORE, the Company and the Executive hereby mutually agree to amend the Agreement as follows:

1.             The following language is added to the end of Section 1.2 of the Retention Agreement:

Notwithstanding the foregoing, if the Change in Control described in this Section 1.2 does not constitute a “change in the ownership of the Company,” a “change in the effective control of the Company,” or a “change in the ownership of a substantial portion of the assets of the Company” as such terms are defined in Section 1.409A-3(i)(5) of the Treasury Regulations, the portion of the severance payments described in Section 3.1 of this Agreement that constitute deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) shall be paid to the Executive in installments over the same period as described in the applicable provision of Section IV.A. of the Cracker Barrel Old Country Store, Inc. Severance Benefits Policy, dated February 19, 2009, as such policy may be amended from time to time.

2.             Section 1.3 of the Retention Agreement shall be stricken in its entirety and the following inserted in its stead:

1.3           “Change in Control Period” means a 2-year year period beginning the day a Change in Control occurs.

  

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3.             Section 2.4 of the Retention Agreement shall be stricken in its entirety and the following inserted in its stead:

2.4           Termination By You For Change in Duties or Compensation During a Change in Control Period.  If during a Change in Control Period there occurs a Change in Duties or Compensation you may terminate your employment with the Company at any time within 120 days after the occurrence of the Change in Duties or Compensation, by giving to the Company not less than 30 and no more than 90 days notice of termination.  Provided that you continue to work during the notice period, any reduction in your Compensation will be restored.  At the option of the Company, following receipt of this notice, it may change or cure, within 30 days, the condition that you claim has caused the Change in Duties or Compensation, in which case, your rights to terminate your employment with the Company pursuant to this Section 2.4 shall cease (unless there occurs thereafter another Change in Duties or Compensation) and you shall continue in the employment of the Company notwithstanding the notice that you have given.  If you terminate your employment with the Company pursuant to this Section 2.4, you shall be entitled to receive Benefits pursuant to Section 3.  Your failure to provide the notice required by this Section 2.4 shall result in you having no right to receive any further compensation from the Company except for any base salary or vacation earned but not paid, plus any bonus earned and accrued by the Company through the Effective Date.

4.             Section 6.4 of the Retention Agreement shall be stricken in its entirety and the following inserted in its stead:

6.4           Entire Agreement. This Agreement supersedes all previous oral or written agreements, understandings or arrangements between the Company and you regarding a termination of your employment with the Company or a change in your status, scope or authority and the salary, benefits or other compensation that you receive from the Company as a result of the termination of your employment with the Company in connection with a Change in Control (the “Subject Matter”), all of which are wholly terminated and canceled.  This Agreement contains all of the covenants and agreements between the parties with respect to the Subject Matter. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made with respect to the Subject Matter by any party, or anyone acting on behalf of any party, which are not embodied in this Agreement.  Any subsequent agreement relating to the Subject Matter or any modification of this Agreement will be effective only if it is in writing signed by the party against whom enforcement of the modification is sought and as is consistent with Section 409A of the Code.

  

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5.           Section 6.9 of the Retention Agreement shall be stricken in its entirety and the following inserted in its stead:

6.9           Certain Additional Payments by the Company.

(a)           Notwithstanding any other provision to the contrary, if any payments or benefits that you would receive from the Company pursuant to this Agreement or otherwise (collectively, the “Payments”) would, either separately or in the aggregate, (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payments will be equal to the Reduced Amount (defined below). The “Reduced Amount” will be either (1) the entire amount of the Payments, or (2) an amount equal to the largest portion of the Payments that would result in no portion of any of the Payments (after reduction) being subject to the Excise Tax, whichever amount after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate, net of the maximum reduction in federal income taxes which could be obtained from a deduction of such state and local taxes), results in your  receipt, on an after-tax basis, of the greatest amount of the Payments.  If a reduction in the Payments is to be made so that the amount of the Payments equals the Reduced Amount, the Payments will be paid only to the extent permitted under the Reduced Amount alternative; provided, that in the event the Reduced Amount is paid, the cash payments set forth in Section 3.1 shall be reduced as required by the operation of this Section 6.9.

(b)           The Company shall engage the accounting firm engaged by the Company for general audit purposes at least 20 business days prior to the effective date of the Change in Control to perform any calculation necessary to determine the amount, if any, payable to you pursuant to Section 3.1, as limited by this Section 6.9.  If the accounting firm so engaged by the Company is also serving as accountant or auditor for the individual, entity or group that will control the Company following the Change in Control, the Company may appoint a nationally recognized accounting firm other than the accounting firm engaged by the Company for general audit purposes to make the determinations required hereunder.  The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder.

(c)           The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the Company and you within 20 days after the date on which such accounting firm has been engaged to make such determinations or within such other time period as agreed to by the Company and you.  Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and you.

(d)           Notwithstanding the foregoing, in determining the reduction, if any, that shall occur as a result of this Section 6.9, the amounts payable or benefits to be provided to you shall be reduced such that the economic loss to you as a result of the Excise Tax elimination is minimized.  In applying this principle, the reduction shall be made in a manner consistent with the requirements of Section 409A of the Code and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but not below zero.

 

  

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6.             A new Section 6.10 is added to the Retention Agreement which shall provide as follows:

	
  

	
6.10

	
Section 409A.

(a)           Subject to the last paragraph of Section 1.2 above, the amounts provided for in Section 3.1 shall be paid in a single lump sum cash payment within 30 days after the Effective Date.

(b)           Notwithstanding the other provisions hereof, this Agreement is intended to comply with the requirements of Section 409A of the Code, to the extent applicable, and this Agreement shall be interpreted to avoid any penalty sanctions under Section 409A of the Code.  Accordingly, all provisions herein, or incorporated by reference, shall be construed and interpreted to comply with Section 409A of the Code and, if necessary, any such provision shall be deemed amended to comply with Section 409A of the Code and regulations thereunder.  If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions under Section 409A of the Code, then such benefit or payment shall be provided in full at the earliest time thereafter when such sanctions will not be imposed.  Except to the extent permitted under Section 409A of the Code, in no event may you, directly or indirectly, designate the calendar year of any payment under this Agreement.  Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

(c)           Notwithstanding any provision to the contrary in this Agreement, if on the date of your termination of employment, you are a “specified employee” (as such term is defined in Section 409A(a)(2)(B)(i) of the Code and its corresponding regulations) as determined by the Board (or its delegate) in accordance with its “specified employee” determination policy, then all severance benefits payable to you under this Agreement that constitute deferred compensation subject to the requirements of Section 409A of the Code that are payable to you within the six (6) month period following your separation from service shall be postponed for a period of six (6) months following your “separation from service” with the Company (or any successor thereto).  Any payments delayed pursuant to this Section 6.10(c) will be made in a lump sum on the Company’s first regularly scheduled payroll date that follows such six (6) month period or, if earlier, the date of your death, and any remaining payments required to be made under this Agreement will be paid upon the schedule otherwise applicable to such payments under this Agreement.

 

  

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(d)           Notwithstanding any other provision to the contrary, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of “deferred compensation” (as such term is defined in Section 409A of the Code and the Treasury Regulations promulgated thereunder) upon or following a termination of employment unless such termination is also a “separation from service” from the Company within the meaning of Section 409A of the Code and Section 1.409A-1(h) of the Treasury Regulations and, for purposes of any such provision of this Agreement, references to a “separation,” “termination,” “termination of employment” or like terms shall mean “separation from service.”

(e)           Notwithstanding any other provision to the contrary, in no event shall any payment under this Agreement that constitutes “deferred compensation” for purposes of Section 409A of the Code and the Treasury Regulations promulgated thereunder be subject to offset by any other amount unless otherwise permitted by Section 409A of the Code.

(f)           To the extent that any reimbursement, fringe benefit or other similar plan or arrangement in which you participate during the term of your employment under this Agreement or thereafter provides for a “deferral of compensation” within the meaning of Section 409A of the Code, (1) the amount eligible for reimbursement or payment under such plan or arrangement in one calendar year may not affect the amount eligible for reimbursement or payment in any other calendar year (except that a plan providing medical or health benefits may impose a generally applicable limit on the amount that may be reimbursed or paid); (2) subject to any shorter time periods provided herein or the applicable plans or arrangements, any reimbursement or payment of an expense under such plan or arrangement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred; and (3) any such reimbursement or payment may not be subject to liquidation or exchange for another benefit, all in accordance with Section 1.409A-3(i)(1)(iv) of the Treasury Regulations.

(g)           For the avoidance of doubt, any payment due under this Agreement within a period following your termination of employment or other event, shall be made on a date during such period as determined by the Company in it’s sole discretion.

(Signatures appear on the next page)

  

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IN WITNESS WHEREOF, the undersigned have executed this Amendment effective as of the date first stated above.

	  	
CRACKER BARREL OLD COUNTRY STORE, INC.

	  	  	  
	  	
By:

	
/s/N.B. Forrest Shoaf

	  	
Name:

	
N.B. Forrest Shoaf

	  	
Title:

	
Senior Vice President

	  	  	  
	  	
EXECUTIVE

	  	  	  
	  	
/s/Doug Barber

	  	
Doug Barber

 

 

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