Document:

exv10w2

 

Exhibit 10.2

CKE Restaurants, Inc.

Amendment No. 1

To

Employment Agreement

     This Amendment No. 1 (the “Amendment”) to Employment Agreement is made effective as of
December 6, 2005, by and between CKE Restaurants, Inc. (the “Company”) and Noah J. Griggs
(the “Employee”).

R E C I T A L S:

     A. The Company and the Employee entered into an Employment Agreement, dated as of January 2004
(the “Agreement”).

     B. The Company and Employee now desire to amend the Agreement as set forth below.

AGREEMENT

     1. Term. Section 2 of the Agreement shall read in its entirety as follows:

     “2. Term. The term of this Agreement (the “Term”) shall commence on
the Effective Date and, subject to prior termination as set forth in Section 7
below, shall terminate three (3) years following the date on which notice of
non-renewal or termination of this Agreement is given by either party to the other.
Thus, the Term shall be renewed automatically on a daily basis so that the
outstanding Term is always three (3) years following the date on which notice of
non-renewal or termination is given by either party to the other. The Term may be
extended at any time upon mutual written agreement of the parties.”

     2. Definitions. Terms used but not defined in this Amendment shall have the
respective meanings assigned to them in the Agreement.

     3. Counterparts. This Amendment may be executed in multiple counterparts, each of
which shall be deemed an original, and all of which shall constitute one Amendment.

     4. Terms and Conditions of Agreement. Except as specifically amended by this
Amendment, all terms and conditions of the Agreement shall remain in full force and effect.

[Signature Page Follows]

 

 

     IN WITNESS WHEREOF, this Amendment is executed by the undersigned as of the date first written
above.

	 	 	 	 	 
	 	 	 
	 	     /s/ Noah J. Griggs
 	 
	 	Noah J. Griggs 	 
	 	 	 
	 
	 	CKE Restaurants, Inc.

 	 
	 	By:  	/s/ Peter Churm
 	 
	 	 	Peter Churm 	 
	 	 	Director and Chairman of the Compensation

Committee of the Board of Directors 	 
	 

2exv10w3

 

Exhibit 10.3

CKE Restaurants, Inc.

Amendment No. 2

To

Employment Agreement

     This Amendment No. 2 (the “Amendment”) to Employment Agreement is made effective as of
March 20, 2007, by and between CKE Restaurants, Inc. (the “Company”) and Noah J. Griggs
(the “Employee”).

RECITALS:

     A. The Company and the Employee entered into an Employment Agreement dated as of
January 2004, and amended on December 6, 2005 (the “Agreement”).

     B. The Company and Employee now desire to amend the Agreement as set forth below.

AGREEMENT

     1. Other Compensation and Fringe Benefits. Section 4(d) of the Agreement
is hereby amended to extend the bonus provided for therein to fiscal years 2008, 2009 and 2010.

     2. Definitions. Terms used but not defined in this Amendment shall have
the respective meanings assigned to them in the Agreement.

     3. Counterparts. This Amendment may be executed in multiple counterparts,
each of which shall be deemed an original, and all of which shall constitute one Amendment.

     4. Terms and Conditions of Agreement. Except as specifically amended by
this Amendment, all terms and conditions of the Agreement shall remain in full force and effect.

[Signature Page Follows]

 

 

     IN WITNESS WHEREOF, this Amendment is executed by the undersigned as of the date first written
above.

	 	 	 	 	 
	 	 	 
	 	     /s/ Noah J. Griggs
 	 
	 	Noah J. Griggs 	 
	 	 	 
	 
	 	CKE Restaurants, Inc.

 	 
	 	By:  	/s/ Andrew F. Puzder
 	 
	 	 	Andrew F. Puzder 	 
	 	 	President and Chief Executive Officer 	 
	 

2exv10w4

 

Exhibit 10.4

CKE Restaurants, Inc.

Amendment No. 3

To

Employment Agreement

     This Amendment No. 3 (the “Amendment”) to Employment Agreement is made effective as of
June 11, 2007, by and between CKE Restaurants, Inc. (the “Company”) and Noah J. Griggs (the
“Employee”).

R E C I T A L S:

     A. The Employee initially entered into an Employment Agreement, dated as of January 2004, with
Hardee’s Food Systems, Inc., which Employment Agreement has been amended on December 6, 2005 and
March 20, 2007, and all of which have been assumed by the Company (the “Agreement”).

     B. The Company and Employee now desire to amend the Agreement as set forth below.

AGREEMENT

     1. Employment and Duties. Section 1 of the Agreement shall read in its entirety as
follows:

     “1. Employment and Duties. Subject to the terms and conditions of this
Agreement, the Company employs the Employee to serve in an executive and managerial
capacity as Executive Vice President and Director of Training of the Company, and
the Employee accepts such employment and agrees to perform such reasonable
responsibilities and duties commensurate with the aforesaid positions as directed by
the Company’s Board of Directors or as set forth in the Articles of Incorporation
and the Bylaws of the Company. Any change in such titles or delegation of duties
inconsistent with such titles without the consent of Employee, shall be deemed a
termination without cause under Section 7(b) below.”

     2. Definitions. Terms used but not defined in this Amendment shall have the
respective meanings assigned to them in the Agreement.

     3. Counterparts. This Amendment may be executed in multiple counterparts, each of
which shall be deemed an original, and all of which shall constitute one Amendment.

     4. Terms and Conditions of Agreement. Except as specifically amended by this
Amendment, all terms and conditions of the Agreement shall remain in full force and effect.

[Signature Page Follows]

 

 

     IN WITNESS WHEREOF, this Amendment is executed by the undersigned as of the date first written
above.

	 	 	 	 	 
	 	 	 
	 	     /s/ Noah J. Griggs
 	 
	 	Noah J. Griggs 	 
	 	 	 
	 
	 	CKE Restaurants, Inc.

 	 
	 	By:  	/s/ Andrew F. Puzder
 	 
	 	 	Andrew F. Puzder, 	 
	 	 	President and Chief Executive Officer 	 
	 

2exv10w5

 

Exhibit 10.5

ADDITIONAL LOAN AND FIRST AMENDMENT TO

SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT

     This ADDITIONAL LOAN AND FIRST AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of May 3, 2007 (this “Amendment”), is made and entered into by and among CKE
Restaurants, Inc., a Delaware corporation (the “Borrower”), BNP Paribas, as administrative
agent (in such capacity, the “Administrative Agent”), the lender signatory hereto (the
“Additional Term Lender”) in connection with that certain Seventh Amended and Restated
Credit Agreement, dated as of March 27, 2007 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), by and among the Borrower, the
Administrative Agent, the lenders party thereto and the other parties thereto. Capitalized terms
used herein and not otherwise defined herein shall have the meaning assigned to such terms in the
Credit Agreement (as amended hereby).

RECITALS

     Pursuant to Section 2.23 of the Credit Agreement, the Borrower may from time to time request
Additional Loans in an aggregate principal amount not to exceed $100,000,000, subject to the terms
and conditions set forth therein.

     On April 19, 2007, the Borrower provided written notice to the Administrative Agent of its
request for Additional Term Loans in an aggregate principal amount of $50,000,000.

     The Additional Term Lender has agreed, subject to the terms and conditions set forth herein,
to make Additional Term Loans to the Borrower in an aggregate amount of $50,000,000.

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AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

     Section 1. Amendments to Credit Agreement.

          (a) The Borrower and the Additional Term Lender party hereto hereby agree that:

               (i) the Commitment (the “May 2007 Commitment”) of the Additional Term Lender and the
aggregate amount of the Additional Term Loans which shall be borrowed (the “May 2007 Term
Loans”) pursuant to this Amendment and Section 2.23 of the Credit Agreement shall be in an
aggregate principal amount of $50,000,000; and

               (ii) the May 2007 Term Loans shall be made on the first date on which the conditions set forth
in Sections 2.23 and 4.2 of the Credit Agreement and Section 2 hereof have been satisfied in full
(the “Additional Loan Effective Date”).

          (b) The Borrower and the Additional Term Lender hereby agree that each May 2007 Term Loan
funded pursuant to this Amendment will have the same ranking and all other terms as the Term Loans,
except that the May 2007 Term Loans shall accrue interest from and including the Additional Loan
Effective Date, and, from and after the Additional Loan Effective Date, the Additional Term Lender
will be a Lender and a Term Loan Lender for any and all purposes under the Credit Agreement.

          (c) To give effect to the May 2007 Term Loans, the parties hereto agree that:

               (i) Section 1.1 of the Credit Agreement is amended by adding the following new definitions
thereto in alphabetical order:

“New Tranche Term Loans” shall have the meaning provided in Section
2.1.

“Original Term Loans” shall mean the Term Loans made on the Closing Date.

               (ii) Section 1.1 of the Credit Agreement is amended by amending and restating the definition
of “Term Loan” in its entirety to read in full as follows:

“Term Loan” shall have the meaning provided in Section 2.1, provided
that for all purposes of the Loan Documents other than the first four
sentences of Section 2.1, “Term Loan” shall include the New Tranche
Term Loans made pursuant to Section 2.1.

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               (iii) Section 2.1 of the Credit Agreement is amended by adding the following after the fourth
sentence of such section:

On May 3, 2007, Additional Term Loans in the principal amount of $50,000,000
shall be made by Lenders agreeing to do so pursuant to Section 2.23
(collectively, the “New Tranche Term Loans").

[Remainder of Page Intentionally Left Blank]

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               (iv) The table set forth in Section 2.1 of the Credit Agreement is hereby amended and restated
as follows:

	 	 	 	 	 	 	 	 	 
	 	 	Paydown Amount	 	 	Paydown Amount	 
	 	 	in connection with	 	 	in connection with	 
	Date	 	Original Term Loans	 	 	New Tranche Term Loans	 
	July 1, 2007
	 	$	300,000	 	 	$	125,000	 
	October 1, 2007
	 	$	300,000	 	 	$	125,000	 
	January 1, 2008
	 	$	300,000	 	 	$	125,000	 
	April 1, 2008
	 	$	300,000	 	 	$	125,000	 
	July 1, 2008
	 	$	300,000	 	 	$	125,000	 
	October 1, 2008
	 	$	300,000	 	 	$	125,000	 
	January 1, 2009
	 	$	300,000	 	 	$	125,000	 
	April 1, 2009
	 	$	300,000	 	 	$	125,000	 
	July 1, 2009
	 	$	300,000	 	 	$	125,000	 
	October 1, 2009
	 	$	300,000	 	 	$	125,000	 
	January 1, 2010
	 	$	300,000	 	 	$	125,000	 
	April 1, 2010
	 	$	300,000	 	 	$	125,000	 
	July 1, 2010
	 	$	300,000	 	 	$	125,000	 
	October 1, 2010
	 	$	300,000	 	 	$	125,000	 
	January 1, 2011
	 	$	300,000	 	 	$	125,000	 
	April 1, 2011
	 	$	300,000	 	 	$	125,000	 
	July 1, 2011
	 	$	300,000	 	 	$	125,000	 
	October 1, 2011
	 	$	300,000	 	 	$	125,000	 
	January 1, 2012
	 	$	300,000	 	 	$	125,000	 
	April 1, 2012
	 	$	28,500,000	 	 	$	11,875,000	 
	July 1, 2012
	 	$	28,500,000	 	 	$	11,875,000	 
	October 1, 2012
	 	$	28,500,000	 	 	$	11,875,000	 
	January 1, 2013
	 	$	28,800,000	 	 	$	12,000,000	 

4

 

     Section 2. Conditions to Effectiveness. The effectiveness of this Amendment is
conditioned upon the following:

          (a) Amendment. The Administrative Agent shall have received counterparts of this
Amendment that, when taken together, bear the signatures of the Borrower, the Administrative Agent,
and the Additional Term Lender.

          (b) Confirmation of Guaranty and Security Interest. The Borrower and each Subsidiary
of the Borrower (other than any such Subsidiary which is an Immaterial Subsidiary) shall have
executed and delivered to the Administrative Agent a Confirmation of Guaranty and Security
Interest.

          (c) Additional Commitment Agreement. The Administrative Agent shall have received an
Additional Commitment Agreement in form and substance reasonably acceptable to it executed by each
of the Additional Term Lender, the Administrative Agent and the Borrower.

          (d) Opinion of Counsel. The Administrative Agent shall have received, on behalf of
itself and the Lenders, a legal opinion of Stradling Yocca Carlson & Rauth, counsel for the
Borrower, addressed to the Administrative Agent, the Issuing Bank and the Lenders and dated the
Additional Loan Effective Date, addressing such matters as the Administrative Agent may reasonably
request.

          (e) Secretary’s Certificate. The Administrative Agent shall have received a
certificate of the Secretary or Assistant Secretary of the Borrower, dated as of the Additional
Loan Effective Date (i) certifying as true, correct and complete as of the Additional Loan
Effective Date, an attached copy of the certificate of incorporation or other similar
organizational document of the Borrower as amended, restated, supplemented or otherwise modified on
or prior to the Additional Loan Effective Date (certified by the Secretary of State or other
comparable authority where customary in such jurisdiction as of a date not more than ten Business
Days prior to the Additional Loan Effective Date) and certifying that there have been no changes to
such certificate of incorporation or other similar organizational document since the date of the
certification thereof by the Secretary of State or other comparable authority where customary in
such jurisdiction, (ii) certifying as true, correct and complete and as in full force and effect as
of the Additional Loan Effective Date, an attached copy of the by-laws or other similar
organizational document of the Borrower as amended through the date of such certificate, (iii)
certifying an attached copy of the resolutions of the Borrower’s Board of Directors approving and
authorizing the execution, delivery and performance of this Amendment and all other documents,
instruments and agreements executed and/or delivered in connection herewith or required or
contemplated hereunder (the “Amendment Documents”), and (iv) certifying the names and true
signatures of the incumbent officers of the Borrower authorized to sign this Amendment and the
other Amendment Documents, together with a certification of the name and
true signature of the Secretary or Assistant Secretary of the Borrower executing and
delivering this certificate.

5

 

          (f) Officer’s Certificate. The Administrative Agent shall have received a certificate
dated as of the Additional Loan Effective Date signed by the chief financial officer of the
Borrower certifying that the conditions set forth in Sections 4.2(a), (b) and (d) of the Credit
Agreement have been satisfied in full with respect to the May 2007 Term Loans.

          (g) No Default or Event of Default. After giving effect to this Amendment and the
Additional Term Loans, no Default or Event of Default shall have occurred and be continuing as a
result of a breach of the covenants in Section 7.1 of the Credit Agreement and the Administrative
Agent shall have received a certificate of the President or Vice President of the Borrower, dated
as of the Additional Loan Effective Date, certifying the foregoing.

          (h) Additional Matters. All corporate and other proceedings taken or to be taken in
connection with this Amendment and all documents incidental thereto, whether or not referred to
herein, shall be reasonably satisfactory in form and substance to the Administrative Agent.

     Section 3. Representations and Warranties. The Borrower hereby represents and
warrants to the Administrative Agent and the Lenders, as of the date hereof, that both before and
after giving effect to this Amendment:

          (a) All of the representations and warranties of the Borrower and each other Loan Party
contained in the Loan Documents (other than representations and warranties which expressly speak
only as of a different date) are true and correct;

          (b) No Default or Event of Default has occurred or is continuing; and

          (c) The May 2007 Term Loans will be used to prepay the Revolving Loans pursuant to Sections
2.2 and 2.11 of the Credit Agreement and for other general corporate purposes.

     Section 4. Affirmations.

          (a) The Borrower hereby (i) expressly acknowledges the terms of this Amendment, (ii) ratifies
and affirms its obligations under the Loan Documents to which it is a party, and (iii) agrees such
Loan Documents remain in full force and effect.

6

 

          (b) The Borrower and the Administrative Agent hereby acknowledge and agree that (i) the
Additional Term Lender is approved and included as a “Term Loan Lender” and as a “Lender”, each as
defined in and under the Credit Agreement, and (ii) the other terms, conditions, rights and
remedies of the Lenders and the Term Loan Lenders otherwise extend in all respects and are
identical to those applicable to the Additional Term Lender under this Amendment.

          (c) The Borrower and the Administrative Agent hereby acknowledge and agree that the May 2007
Term Loans are “Term Loans”, “Loans” and “Obligations” as defined in and under the Credit
Agreement.

          (d) The Borrower and the Administrative Agent hereby acknowledge and agree that the Additional
Term Lender is a Secured Party as defined in and under the Borrower Security Agreement and the
Subsidiary Security Agreement.

          (e) The Borrower and the Administrative Agent hereby acknowledge and agree that the grants of
security interests and pledges of the Borrower pursuant to the Security Documents secures all
amounts advanced and committed under the May 2007 Term Loans and this Amendment, which amounts are
and shall be secured by all of the Collateral as defined in the Credit Agreement.

          (f) The Borrower hereby reaffirms, as of the Additional Loan Effective Date, the covenants and
agreements contained in each Loan Document to which it is a party, including, in each case, such
covenants and agreements as in effect immediately after giving effect to this Amendment and the
transactions contemplated thereby.

          (g) The Borrower hereby acknowledges and agrees that the acceptance by the Administrative
Agent of this document shall not be construed in any manner to establish any course of dealing on
the Administrative Agent’s or any Lender’s part, including the providing of any notice or the
requesting of any acknowledgment not otherwise expressly provided for in any Loan Document with
respect to any future amendment, waiver, supplement or other modification to any Loan Document or
any arrangement contemplated by any Loan Document.

          (h) The Borrower hereby represents and warrants that, immediately after giving effect to this
Amendment, each Loan Document, in each case as modified by this Amendment (where applicable), to
which it is a party continues to be a legal, valid and binding obligation of the undersigned,
enforceable against such party in accordance with its terms (except, in any case, as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar laws
affecting creditors’ rights generally and by principles of equity).

7

 

     Section 5. Reference to and Effect on the Credit Agreement and other Loan Documents.
The amendments set forth herein are effective solely for the purposes set forth herein and shall be
limited precisely as written, and shall not be deemed to (i) be a consent to any amendment, waiver
or modification of any other term or condition of any Loan Document or of any other instrument or
agreement referred to therein, except as set forth herein, or (ii) prejudice any right or remedy
that the Administrative Agent or any Lender may now have or may have in the future under or in
connection with the Credit Agreement, as amended hereby, or any other instrument or agreement
referred to therein. Each reference in the Credit Agreement to “this Agreement,” “herein,”
“hereof” and words of like import and each reference in the other Loan Documents to the “Credit
Agreement” shall mean the Credit Agreement as amended hereby. This Amendment shall be construed in
connection with and as part of the Credit Agreement and all terms, conditions, representations,
warranties, covenants and agreements set forth in the Credit Agreement and each other instrument or
agreement referred to therein, except as herein amended, are hereby ratified and confirmed and
shall remain in full force and effect.

     Section 6. Further Assurances. The Borrower shall and shall cause each other Loan
Party, upon the reasonable request of the Administrative Agent and at the Borrower’s sole cost and
expense, to execute, deliver, acknowledge or obtain, or to cause to be executed, delivered,
registered, filed or recorded any document or instrument supplemental or confirmatory to the
implementation of the May 2007 Term Loan, all as deemed necessary, reasonable or prudent by the
Administrative Agent to create, better perfect, protect or implement the security interests of the
Administrative Agent for the benefit of itself and the benefit of the Secured Parties

     Section 7. Expenses and Fees. Notwithstanding anything contained in the Credit
Agreement, as amended hereby, or any other Loan Document and in addition to any fees and expenses
required to be paid by the Borrower thereunder, the Borrower agrees to pay all reasonable
out-of-pocket costs, fees and expenses incurred by the Administrative Agent in connection with the
preparation, execution and delivery of this Amendment (including the reasonable fees and expenses
of counsel to the Administrative Agent).

     Section 8. Counterparts. This Amendment may be executed in any number of counterparts
and by different parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same
instrument.

     Section 9. Severability. In case any provision in or obligation under this Amendment
shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision or obligation in
any other jurisdiction, shall not in any way be affected or impaired thereby.

8

 

     Section 10. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS (WITHOUT GIVING EFFECT TO
THE PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW TO THE EXTENT SUCH PRINCIPLES WOULD REQUIRE THE
APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF ILLINOIS).

     Section 11. WAIVER OF TRIAL BY JURY. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH
OF THE BORROWER, THE ADMINISTRATIVE AGENT AND THE ADDITIONAL LENDER HEREBY IRREVOCABLY WAIVES ALL
RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN CONNECTION
WITH THIS AMENDMENT, THE CREDIT AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ANY MATTER ARISING
HEREUNDER OR THEREUNDER.

[Signature Pages Follow]

9

 

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

	 	 	 	 	 
	 	CKE RESTAURANTS, INC.

 	 
	 	By:  	/s/ Theodore Abajian
 	 
	 	 	Name:  	Theodore Abajian 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 

Additional
Loan and First Amendment

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BNP PARIBAS,
as Administrative Agent

 	 
	 	By:  	/s/ Clark C. King
 	 
	 	 	Name:  	Clark C. King III             	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	                     /s/ Michael C. Colias
 	 
	 	 	Name:  	Michael C. Colias 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	BNP PARIBAS,
as Additional Term Lender

 	 
	 	By:  	/s/ Clark C. King
 	 
	 	 	Name:  	Clark C. King III 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	                      /s/ Michael C. Colias
 	 
	 	 	Name:  	Michael C. Colias 	 
	 	 	Title:  	Director 	 
	 

Additional
Loan and First Amendment

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