Document:

EX-10.4 AMENDMENT NO.1 TO 1996 NONQUALIFIED STOCK

 

Exhibit 10.4

AMENDMENT NO. 1

TO THE

AMERICA’S FAVORITE CHICKEN COMPANY

1996 NONQUALIFIED STOCK OPTION PLAN

     THIS AMENDMENT made and entered into this 24th day of March, 2005, by America’s Favorite
Chicken Company (the “Company”).

WITNESSETH:

     WHEREAS, the Company has previously adopted the America’s Favorite Chicken Company
Nonqualified Stock Option Plan (the “Plan”); and

     WHEREAS, § 11 states that the Committee (as such term is defined in the Plan) has the right to
adjust the number or kind of shares of Common Stock to reflect a corporate transaction such as a
reorganization, reclassification, stock dividend or stock split; and

     WHEREAS, § 19 reserves to the Committee the right to amend or the Plan as it shall deem
advisable;

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of the date of shareholder
approval hereof:

1.

     By amending § 11 to read as follows:

     11. Adjustments.

     (a) The number, kind or class (or any combination thereof) of shares of Common Stock
subject to outstanding Options and the Option Price of such shares shall be adjusted by the
Committee in a reasonable and equitable manner to preserve immediately after

	 	(1)  	any equity restructuring or change in the capitalization of
the Company, including, but not limited to, spin offs, stock dividends, cash
dividends (other than ordinary cash dividends), rights offerings or stock
splits, or
	 
	 	(2)  	any other transaction described in § 424(a) of the Code which
does not constitute an Extraordinary Event under Section 14 hereof

the aggregate intrinsic value of each such outstanding Option immediately before such
restructuring or recapitalization or other transaction.

 

 

     (b) Available Shares. If any adjustment is made with respect to any
outstanding Option under Section 11(a), then the Committee shall adjust the number, kind or
class (or any combination thereof) of shares of Common Stock reserved under Section 5 so
that there is a sufficient number, kind and class of shares of Common Stock available for
issuance pursuant to each such Option as adjusted under Section 11(a) without seeking the
approval of the Company’s shareholders for such adjustment unless such approval is required
under applicable law or the rules of the stock exchange on which shares of Common Stock are
traded. Furthermore, the Committee shall have the absolute discretion to further adjust
such number, kind or class (or any combination thereof) of shares of Common Stock reserved
under Section 5 in light of any of the events described in Section 11(a)(1) and Section
11(a)(2) to the extent the Committee acting in good faith determinates that a further
adjustment would be appropriate and proper under the circumstances and in keeping with the
purposes of this Plan without seeking the approval of the Company’s shareholders for such
adjustment unless such approval is required under applicable law or the rules of the stock
exchange on which shares of Common Stock are traded.

     (c) Fractional Shares. If any adjustment under this Section 11 would create a
fractional share of Common Stock or a right to acquire a fractional share of Common Stock
under any Option, such fractional share shall be disregarded and the number of shares of
Common Stock reserved under this Plan and the number subject to any Options shall be the
next lower number of shares of Stock, rounding all fractions downward. An adjustment made
under this Section 11 by the Committee shall be conclusive and binding on all affected
persons.

2.

     Except as herein amended, the provisions of the Plan shall remain in full force and effect.

	 	 	 	 	 
	 	AFC ENTERPRISES, INC.

 	 
	 	By:  	 
 	 
	 	 	Frank J. Belatti 	 
	 	 	Chairman of the Board and Chief

Executive OfficerEX-10.5 SECOND AMENDMENT TO 1996 NONQUALIFIED STOC

 

Exhibit 10.5

SECOND AMENDMENT

TO THE

AMERICA’S FAVORITE CHICKEN COMPANY

1996 NONQUALIFIED PERFORMANCE STOCK OPTION PLAN — EXECUTIVE

     THIS AMENDMENT made and entered into this 24th day of March, 2005, by America’s Favorite
Chicken Company (the “Company”).

WITNESSETH:

     WHEREAS, the Company has previously adopted the America’s Favorite Chicken Company
Nonqualified Performance Stock Option Plan (the “Plan”); and

     WHEREAS, § 11 states that the Committee (as such term is defined in the Plan) has the right to
adjust the number or kind of shares of Common Stock to reflect a corporate transaction such as a
reorganization, reclassification, stock dividend or stock split; and

     WHEREAS, § 19 reserves to the Committee the right to amend or the Plan as it shall deem
advisable;

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of the date of shareholder
approval hereof:

1.

     By amending § 11 to read as follows:

     11. Adjustments.

     (a) The number, kind or class (or any combination thereof) of shares of Common Stock
subject to outstanding Options and the Option Price of such shares shall be adjusted by the
Committee in a reasonable and equitable manner to preserve immediately after

	 	(1)  	any equity restructuring or change in the capitalization of
the Company, including, but not limited to, spin offs, stock dividends, cash
dividends (other than ordinary cash dividends), rights offerings or stock
splits, or
	 
	 	(2)  	any other transaction described in § 424(a) of the Code which
does not constitute an Extraordinary Event under Section 14 hereof

the aggregate intrinsic value of each such outstanding Option immediately before such
restructuring or recapitalization or other transaction.

 

 

     (b) Available Shares. If any adjustment is made with respect to any
outstanding Option under Section 11(a), then the Committee shall adjust the number, kind or
class (or any combination thereof) of shares of Common Stock reserved under Section 5 so
that there is a sufficient number, kind and class of shares of Common Stock available for
issuance pursuant to each such Option as adjusted under Section 11(a) without seeking the
approval of the Company’s shareholders for such adjustment unless such approval is required
under applicable law or the rules of the stock exchange on which shares of Common Stock are
traded. Furthermore, the Committee shall have the absolute discretion to further adjust
such number, kind or class (or any combination thereof) of shares of Common Stock reserved
under Section 5 in light of any of the events described in Section 11(a)(1) and Section
11(a)(2) to the extent the Committee acting in good faith determinates that a further
adjustment would be appropriate and proper under the circumstances and in keeping with the
purposes of this Plan without seeking the approval of the Company’s shareholders for such
adjustment unless such approval is required under applicable law or the rules of the stock
exchange on which shares of Common Stock are traded.

     (c) Fractional Shares. If any adjustment under this Section 11 would create a
fractional share of Common Stock or a right to acquire a fractional share of Common Stock
under any Option, such fractional share shall be disregarded and the number of shares of
Common Stock reserved under this Plan and the number subject to any Options shall be the
next lower number of shares of Stock, rounding all fractions downward. An adjustment made
under this Section 11 by the Committee shall be conclusive and binding on all affected
persons.

2.

     Except as herein amended, the provisions of the Plan shall remain in full force and effect.

	 	 	 	 	 
	 	AFC ENTERPRISES, INC.

 	 
	 	By:  	     /s/ Frank J. Belatti
 	 
	 	 	Frank J. Belatti 	 
	 	 	Chairman of the Board and Chief

Executive OfficerEX-10.6 SECOND AMENDMENT TO EHT 2002 INCENTIVE STO

 

Exhibit 10.6

SECOND AMENDMENT

TO THE

AFC ENTERPRISES, INC. 2002 INCENTIVE STOCK PLAN

     THIS AMENDMENT made and entered into this 24th day of March, 2005, by AFC Enterprises, Inc.
(the “Company”).

WITNESSETH:

     WHEREAS, the Company has previously adopted the 2002 AFC Enterprises, Inc. Incentive Stock
Plan (the “Plan”); and

     WHEREAS, § 13.1 states that the Committee (as such term is defined in the Plan) has the right
to adjust the number, kind or class (or any combination thereof) of shares of Stock to reflect any
change in the capitalization of the Company, including but not limited to, such changes as stock
dividends and stock splits; and

     WHEREAS, § 15 gives the Board of Directors of the Company the right to amend or revise the
terms of the Plan at any time;

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of the date of shareholder
approval hereof:

1.

     By amending § 13.1 to read as follows:

     13.1 Capital Structure. The number, kind or class (or any combination thereof) of shares of
Stock reserved under § 3, the annual grant caps described in § 6, the number, kind or class (or any
combination thereof) of shares of Stock subject to Options or Stock Appreciation Rights granted
under this Plan and the Option Price of such Options and the SAR Value of such Stock Appreciation
Rights as well as the number, kind or class (or any combination thereof) of shares of Stock subject
to Stock Grants granted under this Plan shall be adjusted by the Committee in an equitable manner
(a) to reflect any change in the capitalization of the Company, including, but not limited to, such
changes as stock dividends or stock splits, equity restructurings, spin-offs, cash dividends (other
than ordinary cash dividends), or rights offerings and (b) to preserve the aggregate intrinsic
value of each such outstanding Option, Stock Appreciation Right or Stock Grant immediately before
such change in the capitalization of the Company.

2.

     Except as herein amended, the provisions of the Plan shall remain in full force and effect.

 

 

	 	 	 	 	 
	 	AFC ENTERPRISES, INC.

 	 
	 	By:  	     /s/ Frank J. Belatti
 	 
	 	 	Frank J. Belatti 	 
	 	 	Chairman of the Board and Chief

Executive Officer

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