Document:

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                                                                  Exhibit 10.5.3

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (THE "AGREEMENT") is entered into as of this
1st day of January 2002, by and between COSI, INC., a Delaware corporation (the
"Company"), and Nicholas Marsh, III (the "Executive").

                                     RECITAL

         The Executive is currently employed as the President of the Company and
is being retained as Chief Operating Officer of the Company, and the parties
have negotiated this Agreement in consideration of the Executive's valuable
services and leadership.

         NOW THEREFORE, in consideration of the mutual promises and covenants
herein contained, the parties do hereby agree as follow:

         SECTION 1. EFFECTIVE DATE. This Agreement shall be effective upon, and
from and after, the date set forth above.

         SECTION 2. DEFINITIONS. As used herein, the following terms shall have
the following meanings:

         (a)      "Board" means the Board of Directors of the Company.

         (b)      "Disability" means that the Executive (1) has been unable, due
                  to mental or physical incapacity, disease or injury, to
                  perform the essential functions of his job, even with
                  reasonable accommodation, for 180 or more days within one
                  year, or (2) the Board has received a written determination by
                  a physician selected by the Board that the Executive will be
                  unable to perform the essential functions of his job, even
                  with reasonable accommodation, for 180 or more days within one
                  year.

         (c)      "Discharge" means the termination by the Company of the
                  Executive's employment during the Period of Employment for any
                  reason other than (i) Good Cause, (ii) death of the Executive,
                  (iii) Disability of the Executive or (iv) Retirement of the
                  Executive.

         (d)      "Expiration Date" means the date that the Period of Employment
                  (as it may have been extended) expires.

         (e)      "Executive's Note" means the note issued by the Executive to
                  the Company under an Executive Stock Agreement dated April 28,
                  1998 between the Company and the Executive.

         (f)      "Good Cause" has its meaning as defined in Section 6 hereof.
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         (g)      "Period of Employment" shall be for a term of three years
                  beginning on the Effective Date of this Agreement and ending
                  on the third anniversary of the Effective Date (the "Third
                  Anniversary Date"); provided, however, that commencing on the
                  Third Anniversary Date, the Executive's Period of Employment
                  shall automatically be extended for successive one-year
                  periods commencing on the Third Anniversary Date and on each
                  anniversary of the Third Anniversary Date unless the Company
                  or Executive gives the other written notice of nonextension at
                  least 180 days prior to that date. Any extension of the Period
                  of Employment shall be upon terms and conditions no less
                  beneficial to the Executive than those in effect hereunder at
                  the time of such extension.

         (h)      "Retirement" means a time when the sum of the Executive's age
                  and employment with the Company equals or exceeds 65.

         (i)      "Senior Management" means the senior executive management of
                  the Company.

         (j)      "Stock Option Plan" means the Cosi, Inc. Stock Incentive Plan,
                  as the same may be amended from time to time, the Cosi
                  Sandwich Bar, Inc. 1996 Incentive Stock Option Plan, and any
                  other similar plans which may hereafter be established by the
                  Company.

         (k)      "Termination Date" means: (i) if the Executive's employment is
                  terminated by reason of death, the Executive's date of death;
                  (ii) if the Executive's employment is terminated by reason of
                  Retirement, the date of his Retirement; (iii) if the
                  Executive's employment is terminated by reason of Disability,
                  the date of his Disability; (iv) if the Executive's employment
                  is terminated for Good Cause, the date specified in the
                  written notice of termination given by the Company pursuant to
                  Section 6(a); (v) if the Executive's employment is terminated
                  by reason of a Discharge, the effective date of Discharge;
                  (vi) if the Executive's employment is terminated by reason of
                  nonextension of the Period of Employment, the Expiration Date;
                  and (vii) if the Executive voluntarily terminates his
                  employment as permitted by Section 6(b), the effective date of
                  his termination of employment.

         SECTION 3. EMPLOYMENT; PERIOD OF EMPLOYMENT. The Company hereby employs
the Executive, and the Executive hereby accepts employment by the Company, for
the Period of Employment, in the position and with the duties and
responsibilities set forth in Section 4, upon the terms and subject to the
conditions of this Agreement.

         SECTION 4. POSITION, DUTIES AND RESPONSIBILITIES. During the Period of
Employment, the Executive shall serve as Chief Operating Officer of Cosi, Inc.
The Executive shall report to the Company's Chief Executive Officer and shall
have such powers and authority normally associated with the position of Chief
Operating Officer at similarly situated companies, subject to the direction and
control of the Chief Executive Officer. Executive shall devote all of his
working time to performing all duties and responsibilities hereunder in good
faith and shall, at all times, act in what the executive reasonably believes to
be in the best interest of the Company. The Executive shall be allowed holiday
and vacation periods, leaves for periods of

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illness or incapacity and personal leaves in accordance with the Company's
regular practices for members of Senior Management. Nothing in this Section 4,
however, shall serve to prohibit or otherwise restrict the Executive, during his
personal time, from engaging or being engaged (i) in activities in connection
with personal investments, (ii) as a consultant to, or serving on the board of
directors of, entities other than the Company, or (iii) in business activities
and investments of his immediate family, and (iv) community affairs; provided,
however, that such activities (A) do not interfere with the performance of
services by Executive hereunder; and (B) do not otherwise violate any of the
terms and conditions of this Agreement.

         SECTION 5. COMPENSATION, COMPENSATION PLANS AND BENEFITS. During the
Period of Employment, the Executive shall be compensated as follows:

         (a)      Annual Base Salary. Executive shall receive an annual base
                  salary equal to $175,000 for 2002; $275,000 for 2003; $400,000
                  for 2004; and such amount as is determined by the compensation
                  committee of the Board (the "Committee") thereafter. In
                  addition, he shall receive non-incentive compensation,
                  inclusive of a car allowance, in the amount of $2,000 per
                  month. Such compensation and non-incentive compensation shall
                  be paid in accordance with the Company's regular schedule for
                  payment of salaried employees.

         (b)      Bonuses.

                  (i)      Cash Bonus. Cash bonus shall be targeted at 50% of
                           Annual Base Salary in accordance with the Company's
                           then current compensation plan for Senior Management.
                           Cash bonus shall be paid based upon the achievement
                           of such goals as may be set by the Committee for the
                           Executive to reach his targeted bonus, and such cash
                           bonus is payable on or before the thirtieth (30th)
                           day following the end of the fiscal year upon which
                           such bonus is based.

                  (ii)     Option Bonuses. An annual option bonus shall be
                           granted in accordance with Company's then current
                           compensation plan for Senior Management, with initial
                           target for 2002 of an option to purchase 86,400
                           shares of the Company's common stock. Each such
                           option bonus shall be granted, based upon the
                           achievement of such goals as may be set by the
                           Committee for the Executive to reach his targeted
                           bonus, as of the first day of the fiscal year
                           immediately following the end of the fiscal year upon
                           which such bonus is based.

                  (iii)    Other Bonuses. Executive shall receive such other
                           bonuses as are afforded the Company's Senior
                           Management and shall be eligible to participate in
                           all of the Company's executive compensation plans
                           provided to members of Senior Management of the
                           Company from time to time.

         (c)      Executive shall be entitled to participate in and receive
                  other employee benefits, which may include, but are not
                  limited to, benefits under any 401(k), life, health,

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                  accident, disability, medical, dental and hospitalization
                  insurance plans, use of a Company automobile or an automobile
                  allowance as described in Section 5(a) hereof, and other
                  perquisites and benefits, as are provided to members of Senior
                  Management of the Company from time to time.

         (d)      Executive shall be reimbursed for the reasonable and necessary
                  out-of-pocket expenses, including entertainment, travel and
                  similar items, incurred by him in performing his duties
                  hereunder upon presentation of such documentation thereof as
                  the Company may normally and customarily require of the
                  members of Senior Management.

         (e)      Anything contained in the Executive's Note to the contrary
                  notwithstanding, such Note shall not be due and payable until
                  the later of eighteen months after the Termination Date or
                  April 28, 2005.

         SECTION 6. TERMINATION OF EMPLOYMENT. During the Period of Employment,
Executive's employment may be terminated in the following manner:

         (a)      Termination for Good Cause. The Company may terminate the
                  Executive's employment for Good Cause. Good Cause means:

                  (i)      Executive has willfully failed to follow lawful and
                           material directives of the Chief Executive Officer of
                           the Company which are consistent with those duties to
                           be performed by the Executive under this Agreement;
                           or

                  (ii)     Executive has been convicted of a felony; or

                  (iii)    Executive has materially breached this Agreement;
                           provided however,

                  (iv)     No act or omission shall be treated as Good Cause
                           under this Agreement unless (1) Executive has been
                           provided a written statement of the basis for the
                           Company's belief that such act or omission
                           constitutes Good Cause; (2) Executive has had at
                           least a 30 day period to take corrective action
                           during which period Executive has failed to use
                           reasonable best efforts to take any such corrective
                           action and (3) the Board determines reasonably and in
                           good faith by a vote of at least two thirds of its
                           members then in office that Good Cause does exist
                           under this Agreement.

         (b)      Voluntary Termination. The Executive may voluntarily terminate
                  his employment with the Company upon not less than 30 days
                  prior written notice.

         (c)      Involuntary Termination without Good Cause. The Company may
                  terminate Executive's employment with the Company without Good
                  Cause upon not less than 30 days prior written notice. Such
                  termination without Good Cause shall be a Discharge under this
                  Agreement.

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         (d)      Termination by Reason of Death, Disability, or Retirement. The
                  Executive's employment with the Company shall be terminated by
                  death, Disability or Retirement of the Executive.

         (e)      Termination for Good Reason. The Executive may terminate his
                  employment for Good Reason. Good Reason means:

                  (i)      The Company regularly fails to timely pay Executive
                           his salary under Section 5(a);

                  (ii)     There is a material reduction in the scope of the
                           Executive's responsibilities or authority at the
                           Company without Executive's express written consent;

                  (iii)    The Company relocates the Executive's primary work
                           site more than 50 miles from his primary work site on
                           the Effective Date absent his consent; or

                  (iv)     The Company materially breaches this Agreement;
                           provided however

                  (v)      No act or omission shall constitute Good Reason under
                           this Agreement unless (1) the Company has been
                           provided a written statement of the basis for the
                           Executive's belief that such act or omission
                           constitutes Good Reason; (2) the Company has had at
                           least a 30 day period to take corrective action and
                           (3) the Executive determines reasonably and in good
                           faith that the Company has not corrected or will not
                           correct the act or omission within 30 days.

         Termination for Good Reason shall be treated as a Discharge under this
         Agreement.

         SECTION 7. EFFECT OF TERMINATION.

         (a)      If the Executive's employment is terminated by reason of
                  voluntary termination of employment, the Company shall pay the
                  Executive his base salary, non-incentive compensation
                  (including automobile allowance), bonuses and benefits as
                  provided in Section 5 through the Termination Date. Any
                  payments and benefits due to the Executive under employee
                  benefit plans and programs of the Company, including the Stock
                  Option Plan, shall be determined in accordance with the terms
                  of such benefit plans and programs.

         (b)      If the Executive's employment is terminated by reason of
                  death, or, subject to Sections 13(b) and 15 of this Agreement,
                  Retirement or Disability, the Company shall pay the Executive
                  (or his estate in the case of his death) (i) his then current
                  Annual Base Salary, non-incentive compensation (including
                  automobile allowance), and provide the benefits as provided in
                  Section 5 for a period of one year following the Termination
                  Date and, (ii) an amount equal to Executive's cash

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                  bonus calculated at the greater of (A) 50% of his then current
                  Annual Base Salary or (B) the actual bonus earned by the
                  Executive for the fiscal year directly preceding termination,
                  which shall be paid in equal installments each pay day over
                  such one year period. In the case of Executive's Disability,
                  the Executive shall also receive those benefits payable to him
                  under the applicable disability insurance plan provided by the
                  Company, subject to the terms of such plan. In the case of
                  Executive's Retirement, Executive shall provide 180 days
                  notice before he retires as a condition to receiving the
                  payments contemplated by this Section 7(b). Any payments and
                  benefits due to the Executive under employee benefit plans and
                  programs of the Company, including the Stock Option Plan,
                  shall be determined in accordance with the terms of such
                  benefit plans and programs; provided, however, that all
                  options held by the Executive under the Stock Option Plan
                  shall become 100% vested as of the Executive's termination of
                  employment by reason of death, Retirement or Disability and
                  each such option shall not be subject to accelerated exercise
                  requirements or early termination provisions and instead shall
                  be exercisable through and including that date which is the
                  second anniversary of the Termination Date. Amounts payable
                  under this Section 7 shall be paid in accordance with the
                  Company's regular schedule for payment of salaried employees
                  and the Company's standard payroll policies and procedures.

         (c)      Subject to Sections 13(b) and 15 of this Agreement, in the
                  event of the Executive's Discharge by the Company, the Company
                  shall continue to pay the Executive (i) his then current
                  Annual Base Salary and non-incentive compensation (including
                  automobile allowance) and provide the Executive with his then
                  current benefits (as provided in Section 5) through the
                  Expiration Date pursuant to Section 2(c) or for two years,
                  whichever is greater; and (ii) an amount equal to two times
                  the Executive's cash bonus calculated at the greater of (A)
                  50% of his then-current Annual Base Salary or (B) the actual
                  bonus earned by the Executive for the fiscal year directly
                  preceding the year of Discharge, which shall be paid in equal
                  bi-weekly installments over such two year period or such term,
                  whichever is greater. The latter payment is full and final
                  satisfaction of all the Company's obligations for bonus and/or
                  other incentive payments. Any payments and benefits due to
                  Executive under the employee benefit plans and programs of the
                  Company, including the Stock Option Plan, shall be determined
                  in accordance with the terms of such benefit plans and
                  programs; provided, however, that all options held by the
                  Executive under the Stock Option Plan shall become 100% vested
                  as of the Termination Date and each such option shall not be
                  subject to accelerated exercise requirements or early
                  termination provisions and instead shall be exercisable
                  through and including that date which is the second
                  anniversary of the Termination Date.

         (d)      Subject to Sections 13(b) and 15 of this Agreement, in the
                  event of the Company's non-extension of the Employment Period,
                  Executive shall continue to be employed by the Company
                  pursuant to this Agreement through the Expiration Date, and
                  his employment shall be terminated as of the Expiration Date.
                  Thereafter, the Company shall continue to pay Executive (1)
                  the Executive's then

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                  current Annual Base Salary for a period of two years after the
                  Expiration Date, and (2) an amount equal to two times the
                  Executive's cash bonus calculated at the greater of (A) 50% of
                  his then current Annual Base Salary or (B) the actual bonus
                  earned by the Executive for the immediately preceding fiscal
                  year, which shall be paid in equal bi-weekly installments over
                  such two year period. The latter payment is full and final
                  satisfaction of all the company's obligations for bonus and/or
                  other incentive payments. Any payments and benefits due to
                  Executive under employee benefit plans and programs of the
                  Company, including the Stock Option Plan, shall be determined
                  in accordance with the terms of such benefit plans and
                  programs; provided, however, that all options held by the
                  Executive under the Stock Option Plan shall become 100% vested
                  as of the Expiration Date and each such option shall not be
                  subject to accelerated exercise requirements or early
                  termination provisions and instead shall be exercisable
                  through and including that date which is the second
                  anniversary of the Termination Date. It is further provided,
                  however, that within 60 days of the date of notification by
                  the Company to the Executive of its intention not to extend
                  the Period of Employment, the Executive may, at his option,
                  elect, upon 30 days written notice to the Company, to
                  accelerate his Expiration Date and stop working on such date,
                  in which event the salary continuation and other benefits
                  described in this Section 7(d) shall commence as of such
                  accelerated Expiration Date.

         (e)      In the event of the Executive's Termination For Good Cause by
                  the Company, the Company shall pay the Executive his then
                  current base salary and non-incentive compensation (including
                  automobile allowance) and provide the Executive with his then
                  current benefits (as provided in Section 5) through the
                  Termination Date. Any payments and benefits due the Executive
                  under employee benefit plans and programs of the Company,
                  including the Stock Option Plan, shall be determined in
                  accordance with the terms of such benefit plans and programs.

         (f)      Subject to Sections 13(b) and 15 of this Agreement, in the
                  event the Executive's employment is terminated by reason of
                  Discharge or non-extension of the Employment Period, the
                  Company shall furnish the Executive, for a period of six
                  months subsequent to the Termination Date, reasonable office
                  space and secretarial assistance.

         (g)      Subject to Sections 13(b) and 15 of this Agreement, if any of
                  the payments provided for in this Agreement, together with any
                  other payments which the Executive has the right to receive
                  from the Company or any corporation which is a member of an
                  "affiliated group" as defined in Section 1504(a) of the Code
                  (without regard to Section 1504(b) of the Code) of which the
                  Company is a member, would constitute an "excess parachute
                  payment" as defined in Section 280G(b)(1) of the Code as it
                  presently exists, such that any portion of such payments are
                  subject to the excise tax imposed by Section 4999 of the Code,
                  or any interest or penalty with respect to such excise tax
                  (such excise tax, together with any such interest or penalty,
                  are collectively referred to as the "Excise Tax"), then either
                  (1) the Executive shall be entitled to receive an additional
                  payment (an

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                  "Excise Tax Restoration Payment") or (2) if a reduction in the
                  payment to Executive of $15,000 or less would avoid the
                  imposition of Excise Tax, then the payment to Executive shall
                  be so reduced to the extent necessary to avoid imposition of
                  the Excise Tax. The amount of the Excise Tax Restoration
                  Payment, if any, shall be the amount necessary to fund the
                  payment by the Executive of any Excise Tax on the total
                  payments, as well as all income taxes imposed on the Excise
                  Tax Restoration Payment, any excise tax imposed on the Excise
                  Tax Restoration Payment, and any interest or penalties imposed
                  with respect to taxes on the Excise Tax Restoration Payment or
                  any Excise Tax.

         SECTION 8. CHANGE IN CONTROL. For purposes of this Agreement, a "Change
in Control" means the date on which the earlier of the following events occur:
(a) the acquisition by any entity, person or group of beneficial ownership, as
that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, of
more than 50% of the outstanding capital stock of the Company entitled to vote
for the election of directors ("Voting Stock"); (b) the merger or consolidation
of the Company with one or more corporations as a result of which the holders of
outstanding Voting Stock of the Company immediately prior to such a merger or
consolidation hold less than 60% of the Voting Stock of the surviving or
resulting corporation; (c) the transfer of substantially all of the property of
the Company other than to an entity of which the Company owns at least 80% of
the Voting Stock; or (d) the election to the Board of Directors of the Company
of three or more directors during any 12 month period without the recommendation
or approval of the incumbent Board of Directors of the Company. A Change in
Control shall not include (a) an initial public offering of the stock of the
Company of (b) any acquisition in which the Executive is a member of the
acquiring group or an officer or owner of the acquiring entity. Upon a Change in
Control, as defined above in this Section 8, all outstanding stock options shall
become 100% vested and immediately exercisable, regardless of whether the
Executive terminates employment or not. If the Executive terminates employment
with Good Reason within 12 months of a Change in Control, to the extent
permitted by law, the Company shall continue the medical, disability and life
insurance benefits which Executive was receiving at the time of termination for
a period of 24 months after termination of employment or, if earlier, until
Executive has commenced employed elsewhere and becomes eligible for
participation in the medical, disability and life insurance programs, if any, of
his successor employer. Coverage under Employer's medical, disability and life
insurance programs shall cease with respect to each such program as Executive
becomes eligible for the medical, disability and life insurance programs, if
any, of his successor employer.

         SECTION 9. CONFIDENTIALITY. During the Period of Employment and
following termination for any reason, the Executive covenants and agrees that he
will not divulge any trade secrets or other confidential information pertaining
to the business of the Company. The term "confidential information" as used in
this Agreement shall mean any secret, confidential or proprietary information of
the Company or its affiliates, other than those which have become generally
known to the public other than through the act of Executive in breach of this
Section 9. The term "trade secrets" as used in this Agreement shall mean
information, including but not limited to technical or non-technical data, a
formula, a pattern, a compilation, a program, a device, a method, a technique, a
drawing, a recipe, a process, financial data, financial plans, product plans, or
a list of actual or potential customers or suppliers that:

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         (a)      derives economic value, actual or potential, from not being
                  generally known to, and not being readily ascertainable by
                  proper means by other persons who can obtain economic value
                  from its disclosure or use, and

         (b)      is the subject of reasonable efforts by the Company to
                  maintain its secrecy.

The Company's rights under this Section 9 shall be in addition to, and not in
lieu of, any rights the Company might have under applicable state law.

         SECTION 10. NON-COMPETITION. The Executive agrees that for a period of
twenty-four months following the Termination Date, Executive shall not directly
or indirectly, personally or with other employees, agents or otherwise, or on
behalf of any other person, firm, or corporation, engage in any restaurant, bar,
coffee shop or similar business establishment in which a majority of revenues
are derived from retail sales of sandwiches and non-alcoholic beverages (any of
the foregoing, a "Competitive Business"), within a 25 mile radius of any place
of business of the Company (including franchised operations) or of any place
where the Company (or one of its franchised operations) has done business since
the Effective Date of this Agreement. Notwithstanding the above, ownership by
Executive of an interest in any licensed franchisee of the Company shall not be
deemed to be in violation of this Section 10.

         SECTION 11. NON-SOLICITATION OF EMPLOYEES. The Executive agrees that
for a period of twenty-four months following the Termination Date, Executive
shall not on his own behalf or on behalf of any other person, firm, partnership,
association, corporation, or business organization, entity or enterprise call
on, solicit or attempt to induce any other officer or employee of the Company or
its affiliates or licensed franchisees to terminate his or her employment with
the Company or its affiliates or licensed franchisees and shall not assist any
other person or entity in such a solicitation unless such employee is terminated
by the Company. If the Executive is found to have hired, during the
aforementioned twenty-four months following the Termination Date, any employee
(i) whose immediately preceding Employer was the Company, and (ii) who
voluntarily terminated his or her employment with the Company, then the
Executive shall be presumed to have engaged in soliciting that employee to
terminate his or her employment with the Company.

         SECTION 12. SUCCESSORS; BINDING AGREEMENT. (a) This Agreement shall be
binding upon, and inure to the benefit of, the parties hereto, their heirs,
personal representatives, successors and assigns. (b) The Company shall require
any successor (whether direct or indirect and whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or
assets of the Company expressly to assume and agree to perform this Agreement in
the same manner and to the same extent that the Company would be required to
perform if no such succession had taken place. As used herein, "Company" shall
mean the Company as defined in the preamble to this Agreement and any successor
to its business or assets which executes and delivers (or is required to execute
and deliver) the agreement provided for in this Section 11(b), or which
otherwise becomes bound by the terms and provisions of this Agreement or by
operation of law.

         SECTION 13. DISPUTE RESOLUTION.

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         (a)      Arbitration. Except as hereinafter provided, any controversy
                  or claim arising out of or relating to this Agreement of any
                  alleged breach thereof shall be settled by arbitration in the
                  New York, New York in accordance with the rules then obtaining
                  of the American Arbitration Association and any judgment upon
                  any award, which may include an award of damages, may be
                  entered in the highest State or Federal court having
                  jurisdiction. Nothing contained herein shall in any way
                  deprive the Company of its right to obtain an injunction or
                  other equitable relief arising out of the Executive's breach
                  of the provisions of Sections 9, 10, and 11 of this Agreement
                  or to take any other action under Section 13(b). In the event
                  of the termination of Executive's employment, Executive's sole
                  remedy shall be arbitration as herein provided and any award
                  of damages shall be limited to recovery of lost compensation
                  and benefits provided for in this Agreement. No punitive
                  damages may be awarded to Executive. All fees paid to the
                  arbitrator shall be the sole responsibility of the Company.

         (b)      Other. The Company may cease payment of any amounts that would
                  otherwise have been due under this Agreement in the event the
                  Company provides the Executive with written notice setting
                  forth the Board's reasonable, good faith, belief that
                  Executive has materially breached Sections 9, 10 or 11 of this
                  Agreement to the detriment of the Company together with
                  substantial proof upon which the Board reached such
                  determination, and the Executive fails to use reasonable best
                  efforts to take corrective action to cure such alleged breach
                  within 30 days of his receipt of such notice. Further, the
                  Company shall be entitled to seek an injunction restraining
                  Executive from any action in violation of Sections 9, 10 or 11
                  of this Agreement, to obtain such equitable relief or to
                  pursue any other available remedies for such violation or
                  threatened violation, including recovery of damages from
                  Executive.

         SECTION 14. COMPANY PROPERTY.

         (a)      Executive upon the termination of Executive's employment for
                  any reason or, if earlier, upon Company request shall promptly
                  return all Property (as defined in Section 14(b)) which had
                  been entrusted or made available to Executive by the Company
                  and, if any copy of any such Property was made by, or for,
                  Executive, each and every copy of such Property.

         (b)      The term "Property" means records, files, memoranda, tapes,
                  computer disks, reports, price lists, customer lists,
                  drawings, plans, sketches, keys, computer hardware and
                  software, cellular telephones, credit cards, access cards,
                  identification cards, palm pilots and the like, Company cars
                  and other real or personal property of any kind or
                  description.

         SECTION 15. RELEASE. As a condition to receiving any payments from the
Company after termination of his employment, the Executive (if living) must
execute a release in the form of the release attached hereto as Exhibit A, or in
such other form as is acceptable to the Company and Executive.

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         SECTION 16. NOTICES. For the purposes of this Agreement, notices and
all other communications provided for herein shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

         IF TO THE EXECUTIVE:        Nicholas Marsh, III
                                     30 Christopher Street #4C
                                     New York, New York 10014

         IF TO THE COMPANY:          Cosi, Inc.
                                     242 West 36th Street
                                     New York, NY 10018
                                     Attention:  Pam Palladino

         SECTION 17. GOVERNING LAW. The validity, interpretation, construction
and performance of this Agreement shall be governed by the laws of the State of
New York.

         SECTION 18. MISCELLANEOUS. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and the Company. No waiver by
either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by
such other party shall be deemed a waiver of other provisions or conditions at
the same or at any prior or subsequent time. No agreements or representations,
oral or otherwise, express or implied, with respect to the subject matter hereof
have been made by either party which are not set forth expressly in this
Agreement.

         SECTION 19. SEPARABILITY. The invalidity or lack of enforceability of a
provision of this Agreement shall not affect the validity of any other provision
hereof, which shall remain in force and effect.

         SECTION 20. WITHHOLDING OF TAXES. The Company may withhold from any
benefits payable under this Agreement all federal, state and other taxes as
shall be required pursuant to any law or governmental regulation or ruling.

         SECTION 21. SURVIVAL. The provisions of Sections 9, 10, and 11 of the
Agreement shall survive the termination of this Agreement and shall continue for
the terms set forth in Sections 9, 10, and 11.

         SECTION 22. CAPTIONS. Captions to the sections of this Agreement are
inserted solely for the convenience of the parties, are not a part of this
Agreement, and in no way define, limit, extend or describe the scope hereof or
the intent of any of the provisions.

         SECTION 23. NON-ASSIGNABILITY. This Agreement is personal in nature and
neither of the parties hereto shall, without the consent of the other, assign or
transfer this Agreement or any rights or obligations hereunder. Without limiting
the foregoing, the Executive's right to receive payments hereunder shall not be
assignable or transferable, whether

                                       11
<PAGE>
by pledge, creation of a security interest or otherwise, other than a transfer
by will or by the laws of descent or distribution. In the event of any attempted
assignment or transfer contrary to this section, the Company shall have no
liability to pay any amount so attempted to be assigned or transferred.

         SECTION 24. MITIGATION. The Executive shall not be obligated in any way
to mitigate the Company's obligations to him under this Agreement and any
amounts earned by the Executive subsequent to his termination of employment
shall not serve as an offset to the payments due him by the Company under this
Agreement.

                            *************************

                                       12
<PAGE>
         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed and delivered under its seal pursuant to the specific authorization of
its board of directors and the Executive has hereunto set his hand and seal on
the day and year first above written.

                                             COSI, INC.

                                             By:  /s/ Andrew Stenzler
                                                  -----------------------------

                                             EXECUTIVE

                                             By:  /s/ Nick Marsh
                                                  -----------------------------

                                       13
<PAGE>
                                                                       EXHIBIT A

                        SEPARATION AND RELEASE AGREEMENT

         This Separation and Release Agreement ("Agreement") is entered into as
of this __ day of ___________________________, 20___, between COSI, INC., a
Delaware corporation, and any successor thereto (collectively, the "Company")
and _______________ (the "Executive").

         The Executive and the Company agree as follows:

         1. The employment relationship between the Executive and the Company
terminated on __________________________________ (the "Termination Date").

         2. In accordance with the Executive's Employment Agreement (the
"Employment Agreement"), the Company has agreed to pay the Executive certain
payments and to make certain benefits available after the Date of Termination.

         3. For and in consideration of the payments and/or other benefits to be
provided to and/or on behalf of Employee pursuant to the Employment Agreement,
the sufficiency of which the Executive hereby acknowledges, the Executive, on
behalf of the Executive and the Executive's heirs, executors and assigns, hereby
releases and forever discharges the Company and its stockholders, parents,
affiliates, subsidiaries, divisions, any and all current and former directors,
officers, Executives and agents thereof, and their heirs and assigns, and any
and all Executive pension benefit or welfare benefit plans of the Company,
including current and former trustees and administrators of such Executive
pension benefit and welfare benefit plans, from all claims, charges, or demands,
in law or in equity, whether known or unknown, which may have existed or which
may now exist from the beginning of time to the date of this agreement,
including, without limitation, any claims the Executive may have arising from or
relating to the Executive's employment or termination from employment with the
Company, including a release of any rights or claims the Executive may have
under Title VII of the Civil Rights Act of 1964, as amended, and the Civil
Rights Act of 1991 (which prohibit discrimination in employment based upon race,
color, sex, religion, and national origin); the Americans with Disabilities Act
of 1990, as amended, and the Rehabilitation Act of 1973 (which prohibit
discrimination based upon disability); the Family and Medical Leave Act of 1993
(which prohibits discrimination based on requesting or taking a family or
medical leave); Section 1981 of the Civil Rights Act of 1866 (which prohibits
discrimination based upon race); Section 1985(3) of the Civil Rights Act of 1871
(which prohibits conspiracies to discriminate); the Executive Retirement Income
Security Act of 1974, as amended (which prohibits discrimination with regard to
benefits); any other federal, state or local laws against discrimination; or any
other federal, state, or local statute, or common law relating to employment,
wages, hours, or any other terms and conditions of employment. This includes a
release by the Executive of any claims for wrongful discharge, breach of
contract, torts or any other claims in any way related to the Executive's
employment with or resignation or termination from the Company. This release
also includes a release of any claims for age discrimination under the Age
Discrimination in

                                       14
<PAGE>
Employment Act, as amended ("ADEA"). The ADEA requires that the Executive be
advised to consult with an attorney before the Executive waives any claim under
ADEA. In addition, the ADEA provides the Executive with at least 21 days to
decide whether to waive claims under ADEA and seven days after the Executive
signs the Agreement to revoke that waiver. Notwithstanding the foregoing
provisions of this Section 3, the release given by the Executive hereunder shall
not apply to, and the Executive shall retain and shall be entitled to enforce by
litigation or otherwise, all rights arising under or with respect to (i) the
obligations of the Company to indemnify and hold harmless the Executive, (ii)
all directors and officers liability insurance coverage applicable to the
Executive, (iii) Executive's right to enforce the terms of this Agreement and
the Employment Agreement and (iv) any and all benefits to which executive shall
be entitled under the terms of the Company's employee benefit plans.

         4. This Agreement is not an admission by either the Executive or the
Company of any wrongdoing or liability.

         5. The Executive waives any right to reinstatement or future employment
with the Company following the Executive's separation from the Company on the
Date of Termination.

         6. The Executive agrees not to engage in any act after execution of
this Separation and Release Agreement that is intended, or may reasonably be
expected to harm the reputation, business, prospects or operations of the
Company, its officers, directors, stockholders or Executives. The Executive will
take no action which would reasonably be expected to lead to unwanted or
unfavorable publicity to the Company.

         7. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York, without reference to the principles of
conflict of laws. Exclusive jurisdiction with respect to any legal proceeding
brought concerning any subject matter contained in this Agreement shall be
settled by arbitration as provided in the Executive's Employment Agreement.

         8. This Agreement and the Employment Agreement represent the complete
agreement between the Executive and the Company concerning the subject matter in
this Agreement and supersedes all prior agreements or understandings, written or
oral. This Agreement may not be amended or modified otherwise than by a written
agreement executed by the parties hereto or their respective successors and
legal representatives.

         9. It is further understood that for a period of seven (7) days
following the execution of this Agreement in duplicate originals, the Executive
may revoke this Agreement, and this Agreement shall not become effective or
enforceable until the revocation period has expired. No revocation of this
Agreement by the Executive shall be effective unless the Company has received
within the seven (7) day revocation period, written notice of any revocation,
all monies received by the Executive under this Agreement and all originals and
copies of this Agreement.

                                       2
<PAGE>
         10. This Agreement has been entered into voluntarily and not as a
result of coercion, duress, or undue influence. The Executive acknowledges that
the Executive has read and fully understands the terms of this Agreement and has
been advised to consult with an attorney before executing this Agreement.
Additionally, the Executive acknowledges that the Executive has been afforded
the opportunity of at least twenty-one (21) days to consider this Agreement.

         The parties to this Agreement have executed this Agreement as of the
day and year first written above.

                                     COSI, INC.

                                     By:  _____________________________________
                                          Name:
                                          Title:

                                     [EMPLOYEE]

                                     __________________________________________

                                       3<PAGE>
                                                                  Exhibit 10.5.4

January 7, 2002

David Orwasher
20 Greenbrier Road
Westport, CT 06880

Dear David:

Congratulations! We are pleased to offer you a position of employment with Cosi,
Inc. The following is a description of the terms of your employment.

1. You agree to become an employee of Cosi, Inc. in the position of Chief
Development Officer, effective as of the date on which you commence employment,
tentatively scheduled for January 7, 2002. The term of this Agreement will be
for three years from the date on which you commence employment (the
"Commencement Date"). Your position will report directly to the Co-CEO of Cosi,
Inc., Jay Wainwright, with a dotted line to the Chairman, Co-CEO, Andy Stenzler.
In your position, you will be responsible for all real estate development,
construction, design, purchasing, asset management, property management,
corporate real estate strategic policy and real estate acquisition activities of
Cosi. During the term hereof, you agree to use your best efforts to advance the
interests and business of Cosi, supervise its employees, and, subject to
paragraphs 15 and 16 below, devote substantially all of your working time,
attention, knowledge and skills, faithfully, diligently and to the best of your
ability, in furtherance of the business of Cosi. You agree to be available to
confer and consult with and advise the officers and directors of Cosi at such
times and places as may be reasonably required by Cosi. However, your services
shall be rendered in primarily in the New York City Metropolitan area, except
that you will travel as reasonably required by the business of Cosi.

2. Your initial gross salary will be Two Hundred Fifty Thousand ($250,000.00)
Dollars per annum, payable in bi-weekly installments. The Board of Directors
will review your salary annually for increase, which increase shall not be less
than 8% per year. In addition, subject to paragraph 13, you will receive, within
30 days after each
<PAGE>
anniversary of the Commencement Date, a bonus calculated pursuant to paragraph
3, but in no event less than 20% of your gross salary for the year then ended.

3. As Chief Development Officer of Cosi, Inc., you will participate in an annual
cash bonus program based upon the criteria set forth below. Cosi, Inc., shall
review each real estate location signed during your tenure 6, 12 and 24 months
after the store opening (each of such dates an "Assessment Date") to determine
eligibility for bonuses upon the following criteria:

      i.    For every real estate location signed during your tenure, which on
            an Assessment Date achieves a $1.5MM revenue run rate (revenues for
            four sequential one month accounting periods, annualized, per the
            Company's seasonality curve), that also has an occupancy percentage
            (SLG rent, (including any step rent adjustments) real estate taxes,
            and CAM, as defined on the standard P&L Sheet) of under 8.0 percent
            of revenues over that same period of time, a sum amount of Ten
            Thousand Dollars ($10,000) will be added to your bonus amount earned
            in that bonus year (only one such bonus pursuant to this paragraph
            3(i) shall be paid on any single real estate location), or

      ii.   For every real estate location signed during your tenure (exclusive
            of those for which a bonus is, or has been, payable pursuant to
            paragraph 3(i)), which on an Assessment Date achieves a 50 percent
            year one, or combined, averaged year one and year two, Cash on Cash
            return (average or annualized (as the case may be), which for
            purposes herein shall be defined as EBITDA divided by the sum of the
            initial store capital expenditures, cash on cash return, using step
            rent adjustments, and including pre-opening costs as relate only to
            store development activities, but also excluding any pre-opening
            labor or deposits) after the first or second year, as the case may

                                       2
<PAGE>
            be, a sum amount of Ten Thousand Dollars ($10,000) will be added to
            your bonus amount earned in that bonus year(only one such bonus
            pursuant to this paragraph 3(ii) shall be paid on any single real
            estate location); and

      iii.  For every real estate location signed during your tenure with the
            Company, which does not achieve either one of the conditions
            described in above paragraphs 3(i) and 3(ii), a Ten Thousand Dollar
            ($10,000) sum amount will be subtracted from the bonus earned by you
            pursuant to Sections 3(i) and 3(ii) in that bonus year (but in no
            event will reduce the bonus below zero).

      iv.   On each anniversary of the Commencement Date, the Company shall
            calculate, with respect to all real estate locations that have been
            open for at least 6 but not more than 18 months, the average revenue
            run rate in accordance with Section 3(i) and the average Cash on
            Cash return in accordance with Section 3(ii). If either average
            exceeds the amount necessary to qualify for a bonus under Section
            3(i) or Section 3(ii), then the bonus otherwise payable under
            Sections 3(i) through 3(iii) shall instead be the amount equal to
            (x) $10,000, multiplied by (y) the number of stores included in such
            calculation.

4. Upon commencing your employment, you will receive an initial sign-on stock
option grant of Seventy Five Thousand (75,000) options at an exercise price of
$7.00 per share, pursuant to both Cosi, Inc. Stock Incentive Plan and a Stock
Option Agreement in substantially the form attached hereto. This initial sign-on
option grant will have a three (3) year vesting schedule as follows: 33.3% after
year 1, 33.3% after year 2 and 33.3% after year 3. These options, and any
granted to you under paragraphs 5 and 6 of this letter, shall immediately vest
and become exercisable in full upon the sale of all or substantially all of the
assets or transfer or control of Cosi, Inc. A "transfer of control" shall be
deemed to have occurred following any transaction involving the Cosi and a third
party or affiliated group of third parties pursuant to which such party or
parties acquire a majority of the

                                       3
<PAGE>
outstanding shares of capital stock of the Company entitled to vote generally in
the election of the Company's board of directors. Additionally, on commencing
your employment, you will be granted a stock option grant pursuant to the Cosi
Stock Incentive Plan and Stock Option Agreement in substantially the form
attached hereto, in the amount of 62,500 shares on your start date, at an
exercise price of $7.00 per share, which option shall have a four (4) year
vesting schedule as follows: 33.3% vesting after year 1, 33.3% vesting on the
thirtieth (30th) month following the grant and 33.3% vesting after year 4.

5. Annually, following the second full calendar year of your employment, you
will receive annual option grants pursuant to the Cosi Stock Incentive Plan and
Stock Option Agreement in substantially the form attached hereto, commensurate
with your position as Chief Development Officer in the minimum amount of Sixty
Two Thousand, Five Hundred (62,500) shares for each full calendar year under
this agreement. The minimum grant under this paragraph 5 shall increase annually
by 20 percent year over year (i.e., 75,000 in 2003, and 90,000 in 2004), all of
which shall have no longer than a three (3) year vesting schedule as follows:
33.3% vesting after year 1, 33.3% vesting after year 2 and 33.3% vesting after
year 3. In the event that, at any time prior to vesting of any of the foregoing
options (whether during or after the employment term under this Agreement), your
employment is terminated by you for Good Reason (as defined below) or by Cosi
for any reason other than Cause (as defined below), then all options actually
granted to you under paragraphs 4 and 5 hereunder shall immediately vest and
become exercisable.

6. As an employee of Cosi, Inc., you will additionally be entitled to
participate in Generation XO, a company wide stock-option bonus plan. The 2000
stock-option bonus was 12.75% of each employee's gross salary, exclusive of cash
bonuses. Cosi does not guarantee that it will make such a stock-option bonus in
future years.

7. As an employee of Cosi, you also will be entitled to participate in our
executive benefits packages. These benefits include full single

                                       4
<PAGE>
coverage in our Cigna PPO for medical, dental and vision insurance and a 50%
contribution for family, spouse and/or children coverage in this same plan. If
the core geography of the Cigna PPO does not cover Fairfield County,
Connecticut, the cost to the employee of coverage shall not be more than it
would be if he selected a PPO provider in the core geography. Cosi will also
provide Life Insurance, AD&D (Accidental, Death and Dismemberment), and
Long-Term Disability coverage in minimum amounts standard to all Cosi, Inc.
employees, but in no event for less than 66-2/3 of base salary for Long-Term
Disability coverage, and $250 thousand in the case of life insurance. You may
enroll in these programs the first day of the month following that in which you
started. Details of the individual benefits can be obtained from the Cosi, Inc.
People Department. Participation in, and the terms of our health care plan are
subject to change without notice but in no event shall diminish below the levels
set forth herein. Cosi will reimburse you for the costs of maintaining your
current health insurance for the period from the commencement of your employment
until the date on which you are covered by the Cosi programs. In addition to the
foregoing, Cosi will reimburse you for the cost of short-term disability
insurance, up to $2,000 per year.

8. You will be entitled to participate in the company's 401(K)- retirement plan.
You may roll over any current accounts you have upon hire and you may begin
additional contributions upon your one year anniversary. Cosi will match your
contributions at 25% up to 4% of your base salary. You can contact the People
Department for more information regarding this plan.

9. As a condition of your employment, you will be required to participate in the
standard partner-training program for all new Cosi, Inc. Support Center
employees.

10. Your current position entitles you to four weeks paid vacation annually.

                                       5
<PAGE>
11. The company will provide you a car allowance of Eight Hundred ($800.00)
Dollars per month. Cosi will promptly reimburse you for all ordinary and
necessary business expenses actually incurred by you in connection with the
performance of your duties hereunder, including but not limited to gas, commuter
and other parking, rail, and travel and entertainment costs to the extent that
receipts, vouchers or other documentation reasonably satisfactory to Cosi are
submitted by you in accordance with expense reimbursement policies of Cosi from
time to time in effect.

12. After a three-month orientation period, you will join Cosi's Steering
Committee.

13. (a) Should your employment with Cosi be terminated by Cosi for "Cause" (as
defined below) all stock options granted to you pursuant to paragraphs 4 and 5
above will terminate immediately. Should your employment with Cosi be terminated
by reason of (x) your resignation (other than for "Good Reason," as defined
below), (y) termination by Cosi for "Cause" (as defined below), death or
"Disability" (as defined below), Cosi shall have no further obligations or
liabilities to you under this Agreement after the date of such termination (the
"Termination Date"), except that you shall be entitled to receive (i) all gross
salary and bonuses due and owing to you up to the Termination Date; (ii) expense
reimbursement due and owing to you as of the Termination Date, and, (iii) in the
event of your death or Disability, any bonus payable pursuant to paragraph 3
when and as it comes due.

      (b) In the event your employment is terminated by you for Good Reason or
by Cosi for any reason other than Cause, or your death or Disability, then, in
addition to the payments referred to in paragraph 13(a) above, you shall be
entitled to receive (i) any bonus payable pursuant to paragraph 3 when and as it
comes due, (ii) a severance payment equal to one year's gross salary, and (iii)
continuation, at the expense of the Company, of all executive benefits packages
and other medical, life and disability insurance for a period of one year after
termination.

                                       6
<PAGE>
      (c) As used herein, termination for "Cause" shall be deemed to exist if
(i) if you commit substantial and continued negligence in the performance of
your duties for, or responsibilities to, Cosi, (ii) your commission of a
material breach of this Agreement or any other agreement with Cosi to which you
are party, (iii) your failure to perform material duties reasonably assigned to
you by the Board of Directors or a chief executive officer of Cosi consistent
with your office and this Agreement, (iv) your commission of fraud, theft, or a
material breach of a fiduciary trust for the purpose of gaining a personal
profit, or (v) your conviction of, or plea of nolo contendere with respect to, a
felony involving moral turpitude, fraud or theft; PROVIDED, HOWEVER, that in the
event a breach by you of clause (i) through (iii) is capable of remedy, you
shall have thirty (30) days following your receipt of written notice of such
breach from Cosi to cure the breach.

      (d) As used herein, "Good Reason" means that (i) your duties and
responsibilities have been materially diminished (other than for a reason
constituting Cause), (ii) Cosi reduces, or delays the timing of, its organic
real estate growth program the effect of which is cumulative store growth of
less than 25% a year during the term hereof, unless, however, a bonus program
for and reasonably satisfactory to the employee is instituted that provides for
an opportunity to earn bonuses equivalent to the opportunity afforded by
paragraph 3 under Cosi's existing real estate growth program), (iii) you are
required to report to someone other than a chief executive officer or president
of Cosi, (iv) Cosi has committed a material breach of this Agreement which
continues unremedied for 30 days after written notice of the alleged breach,
specifying the allegations in reasonable detail, has been furnished by you to
Cosi; (v) Cosi has required you to relocate your principal place of business to
a location outside of Fairfield County, Connecticut, or Cosi's principal place
of business in New York City or Westchester County, New York; (vi) the financial
information about Cosi heretofore provided to the employee proves to materially
false or misleading as of the date hereof; or (vii) there has been a change in
control of Cosi at a valuation that equates to less than $7.00 per share of
common stock.

      (e) As used herein, "Disability" shall be deemed to exist in the event you
have been unable or will be unable, due to mental or physical incapacity,
disease or injury, to perform the duties or services consistent with your

                                       7
<PAGE>
office for a continuous period of ninety (90) days or for a period of ninety
(90) days of within a period of one hundred fifty (150) consecutive days.

14. You represent and warrant to Cosi that you are not restricted or prohibited,
contractually or otherwise, from entering into and performing your duties as
described herein. Specifically, you, by virtue of your employment with Cosi,
will not be in violation of any non-competition or restrictive covenant, which
would, if enforceable, restrict your ability to continue as an employee of Cosi
and to perform your duties hereunder.

15. During the term of your employment, you may serve as a consultant to or
member of the board of directors of any entity that is not engaged in a
Competitive Business (as defined in the Confidentiality and Non-Compete
Agreement referred to paragraph 22 below) and you may engage, for your own
account, in real estate development, in each case provided that doing so does
not (i) impair or interfere with your ability to perform your obligations to
Cosi under this Agreement, (ii) result in your competing with Cosi for leasing
of real estate sites of 5,000 square feet or less, or (iii) violate the
provisions of the Confidentiality and Non-Compete Agreement . You will give
contemporaneous notice to Cosi of any consultant arrangements or directorships
that you enter into.

16. Cosi acknowledges and agrees that in the performance of your services to
Cosi, you may in your discretion engage on behalf of Cosi the brokerage and
other services of Ferrara Jerum International LLC, an entity in which you have
an equity interest, provided that the terms of such service are on an arm's
length basis and provide for quality service at competitive and non-preferential
rates.

17. All references in this letter agreement to numbers of options and prices of
shares shall be equitably adjusted to reflect the impact of any stock split,
reverse stock split, recapitalizations, mergers, and similar events.

18. Your obligations hereunder are personal in nature and may not be assigned or
delegated. Cosi may assign this its rights and obligations

                                       8
<PAGE>
hereunder to any controlled subsidiary (provided that Cosi guarantee's such
subsidiary's performance hereunder) any person or entity acquiring all or a
substantially all of its business and assets.

19. Intentionally Omitted.

20. This Document sets forth the entire agreement between the parties relating
to the subject matter hereof and may not be altered, modified changed or
discharged and none of the provisions hereof may be waived except in writing,
signed by the party to be changed therewith. A failure strictly to enforce any
of the terms of this Agreement shall not be deemed to be a waiver of the right
to enforce any such term at any subsequent time.

21. The provisions hereof shall be governed in all respects by the laws of the
State of New York without giving effect to its conflicts of laws principles.

22. You further understand that as a condition of your employment, you will be
required to sign the attached confidentiality and non-compete agreement at the
same time that you execute this agreement.

Cosi, Inc. is pleased to offer you this position of employment and we look
forward to working with you. Please acknowledge your acceptance of employment
with Cosi, Inc. under the terms and conditions herein by signing where indicated
below.

Very Truly Yours,

Andy Stenzler                          Jay Wainwright
Chairman/ Co-Chief Exec Officer        Co-Chief Executive Officer

Read, Acknowledged and Agreed
This ____ day of __________, 2002

 /s/ David Orwasher
---------------------------------
David Orwasher

                                       9

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