Document:

Option Conversion Agreements

 EXHIBIT 10.11 
 COUNTY OF ROWAN 
 STATE OF NORTH CAROLINA 
 OPTION CONVERSION AGREEMENT 
 WHEREAS, Bank of Davie, Mocksville, North Carolina
(“Davie”), BOC Financial Corp, Landis, North Carolina (“BOC”) and BOC’s subsidiary, Bank of the Carolinas, Landis, North Carolina (“Carolinas”), executed an Agreement and Plan of Reorganization and Merger (the
“Merger Agreement”) on July 20,2001; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement calls for conversion of
each outstanding option (each a “BOC Option” and collectively the “BOC Options”) to purchase shares of BOC common stock referenced in Paragraph 2.05 of Merger Agreement into options to purchase shares of Davie common stock; and

 WHEREAS, Paragraph 6.07 of the Merger Agreement further provides that, as of the Effective Time (as defined in the Merger
Agreement), each BOC Option will represent an option to purchase 0.92 shares of Davie common stock at an adjusted exercise price; and 
 WHEREAS, the undersigned is currently the of a BOC Option; and 
 WHEREAS, the undersigned desires to and agree to
conversion of BOC Option described herein into an option to purchase of Davie common stock 
 NOW, THEREFORE, BE IT RESOLVED, that the
undersigned, by the execution hereof, confirms and agrees to the conversion of his or her BOC Option representing the right to purchase 18,515 shares of BOC common stock at an exercise price of $6.625 and 5,922 shares of BOC common stock at an
exercise price of $5.375 into options to purchase 17,033 shares of Davie common stock at an exercise price of $7.201 and 5,448 shares of Davie common stock at an exercise price of $5.843. 
 This the 31st day of December 2001. 
  

	
	 /S/ Stephen R. Talbert

	Stephen R. Talbert

 COUNTY OF ROWAN 
 STATE OF NORTH CAROLINA 
 OPTION CONVERSION AGREEMENT 
 WHEREAS, Bank of Davie, Mocksville, North Carolina (“Davie”), BOC Financial Corp, Landis, North Carolina (“BOC”) and
BOC’s subsidiary, Bank of the Carolinas, Landis, North Carolina (“Carolinas”), executed an Agreement and Plan of Reorganization and Merger (the “Merger Agreement”) on July 20,2001; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement calls for conversion of each outstanding option (each a “BOC Option” and collectively
the “BOC Options”) to purchase shares of BOC common stock referenced in Paragraph 2.05 of Merger Agreement into options to purchase shares of Davie common stock; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement further provides that, as of the Effective Time (as defined in the Merger Agreement), each BOC
Option will represent an option to purchase 0.92 shares of Davie common stock at an adjusted exercise price; and 
 WHEREAS, the
undersigned is currently the of a BOC Option; and 
 WHEREAS, the undersigned desires to and agree to conversion of BOC Option
described herein into an option to purchase of Davie common stock 
 NOW, THEREFORE, BE IT RESOLVED, that the undersigned, by the
execution hereof, confirms and agrees to the conversion of his or her BOC Option representing the right to purchase 9,500 shares of BOC common stock at an exercise price of $6.625 and 2,072 shares of BOC common stock at an exercise price of $5.375
into options to purchase 8,740 shares of Davie common stock at an exercise price of $7.201 and 1,906 shares of Davie common stock at an exercise price of $5.843. 
 This the 31st day of December 2001. 
  

	
	 /S/ John A. Drye

	John A. Drye

 COUNTY OF ROWAN 
 STATE OF NORTH CAROLINA 
 OPTION CONVERSION AGREEMENT 
 WHEREAS, Bank of Davie, Mocksville, North Carolina (“Davie”), BOC Financial Corp, Landis, North Carolina (“BOC”) and
BOC’s subsidiary, Bank of the Carolinas, Landis, North Carolina (“Carolinas”), executed an Agreement and Plan of Reorganization and Merger (the “Merger Agreement”) on July 20,2001; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement calls for conversion of each outstanding option (each a “BOC Option” and collectively
the “BOC Options”) to purchase shares of BOC common stock referenced in Paragraph 2.05 of Merger Agreement into options to purchase shares of Davie common stock; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement further provides that, as of the Effective Time (as defined in the Merger Agreement), each BOC
Option will represent an option to purchase 0.92 shares of Davie common stock at an adjusted exercise price; and 
 WHEREAS, the
undersigned is currently the of a BOC Option; and 
 WHEREAS, the undersigned desires to and agree to conversion of BOC Option
described herein into an option to purchase of Davie common stock 
 NOW, THEREFORE, BE IT RESOLVED, that the undersigned, by the
execution hereof, confirms and agrees to the conversion of his or her BOC Option representing the right to purchase 9,500 shares of BOC common stock at an exercise price of $6.625 and 2,072 shares of BOC common stock at an exercise price of $5.375
into options to purchase 8,740 shares of Davie common stock at an exercise price of $7.201 and 1,906 shares of Davie common stock at an exercise price of $5.843. 
 This the 31st day of December 2001. 
  

	
	 /S/ Henry H. Land

	Henry H. Land

 COUNTY OF ROWAN 
 STATE OF NORTH CAROLINA 
 OPTION CONVERSION AGREEMENT 
 WHEREAS, Bank of Davie, Mocksville, North Carolina (“Davie”), BOC Financial Corp, Landis, North Carolina (“BOC”) and
BOC’s subsidiary, Bank of the Carolinas, Landis, North Carolina (“Carolinas”), executed an Agreement and Plan of Reorganization and Merger (the “Merger Agreement”) on July 20,2001; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement calls for conversion of each outstanding option (each a “BOC Option” and collectively
the “BOC Options”) to purchase shares of BOC common stock referenced in Paragraph 2.05 of Merger Agreement into options to purchase shares of Davie common stock; and 
 WHEREAS, Paragraph 6.07 of the Merger Agreement further provides that, as of the Effective Time (as defined in the Merger Agreement), each BOC
Option will represent an option to purchase 0.92 shares of Davie common stock at an adjusted exercise price; and 
 WHEREAS, the
undersigned is currently the of a BOC Option; and 
 WHEREAS, the undersigned desires to and agree to conversion of BOC Option
described herein into an option to purchase of Davie common stock 
 NOW, THEREFORE, BE IT RESOLVED, that the undersigned, by the
execution hereof, confirms and agrees to the conversion of his or her BOC Option representing the right to purchase 9,500 shares of BOC common stock at an exercise price of $6.625 and 2,071 shares of BOC common stock at an exercise price of $5.375
into options to purchase 8,740 shares of Davie common stock at an exercise price of $7.201 and 1,905 shares of Davie common stock at an exercise price of $5.843. 
 This the 31st day of December 2001. 
  

	
	 /S/ Lynne Scott Safrit

	Lynne Scott SafritLetter Agreement

 Exhibit 10.1 
 August 16, 2006 
 Mr. Richard Scanlan 
 31260
W. Somerset Circle 
 Green Oaks, Illinois 60048 
 Dear Rich:

 This letter agreement (the “Agreement”) confirms the agreement that you and Champps Entertainment, Inc. (the “Company”) have reached
regarding the resignation of your current position as Chief Operating Officer and Vice President and the amendment and restatement of your existing employment agreement and the surrender of all rights to any restricted stock granted thereunder in
consideration of your continued employment by becoming a director of operations/market partner for the Minnesota and Illinois Champps Americana locations and entering into the Bonus Buy-In Agreement and the Amended and Restated Employment Agreement
both of even date. The purpose of the Agreement is to establish the consensual nature of this arrangement whereby you are surrendering your position as Chief Operating Officer and Vice President of the Company and surrendering all related benefits,
rights and obligations under the Employment Agreement dated August 17, 2005 and entering into a Bonus Buy-In Agreement and Amended and Restated Employment Agreement. 
 You are entering into this Agreement and the attached agreements voluntarily. You understand that this is a legally binding agreement and that you are giving up your right to bring all possible legal claims against
the Company, among others, including claims relating to your prior employment agreement. 
 With those understandings and in exchange for the promises of you
and the Company set forth below, you and the Company agree as follows: 
  

	 	1.	Resignation 

 You agree to resign as Chief Executive Officer and Vice
President of the Company and all of its subsidiaries effective as of August 16, 2006 (the “Resignation Date”). 

	 	2.	Bonus Buy-In and Amended and Restated Employment Agreement 

 You and the
Company agree that you will enter into the Bonus Buy-in Agreement and the Amended and Restated Employment Agreement both of even date. Under the Bonus Buy-in Agreement, you will acquire a participating interest in and receive bonus payments based
upon operating cash flow of certain Champps restaurants identified therein. The Amended and Restated Employment Agreement will govern your relationship with the Company as of August 16, 2006 and all benefits, rights, duties and obligations of
each of you and the Company relating to your service as Chief Operating Officer and Vice President of the Company under the Employment Agreement dated August 17, 2005 are hereby terminated effective as of such date. 
  

	 	3.	Stock Options 

 You release all right title and interest to any restricted
stock grants or stock units previously granted to you by the Company. 
 This agreement comprises the entire agreement between you and the Company, and all
previous agreements and/or promises between you and the Company are superseded, null, and void. 
  

	 	4.	Notices, Acknowledgments and Other Terms 

 You are advised to consult with
an attorney before signing this Agreement. 
 By signing this Agreement, you acknowledge that you are doing so voluntarily. You also acknowledge that you are
not relying on any representations by me or any other representative of the Company concerning the meaning of any aspect of this Agreement. 
 This Agreement
shall be binding upon each of the parties and upon their respective heirs, administrators, representatives, executors, successors and assigns, and shall inure to the benefit of each party and to their heirs, administrators, representatives,
executors, successors and assigns. 
 This Agreement may be executed in counterparts or duplicate origins, each having the same force and effect as an
original. 
 In the event of any dispute, this Agreement will be construed as a whole, will be interpreted in accordance with its fair meaning, and will not
be construed strictly for or against either you or the Company. 

 The law of Colorado will govern any dispute about this Agreement, including any interpretation or enforcement of this
Agreement. In the event that any provision or portion of a provision of this Agreement shall be determined to be unenforceable, the remainder of this Agreement shall be enforced to the fullest extent possible as if such provision or portion of a
provision were not included. The Agreement may be modified only by a written agreement signed by you and an authorized representative of the Company. 
 If
you agree to these terms, please sign and date below and return this Agreement to me. 
  

					
	 Sincerely,

	
	 Champps Entertainment, Inc.

		
	 By:
	 	 /s/ Michael P. O’Donnell

		 	 Michael P. O’Donnell

		 	 Its:
	 	 President and CEO

  

	
	 Accepted and agreed to:

	
	 /s/ Richard Scanlan

	 Richard Scanlan

	
	 Dated: August 16, 2006

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