Document:

exv10w6

 

Exhibit 10.6

Acknowledgment

I have reviewed and understand the terms of the Long Term Incentive Program (the “LTIP”) in which I
have been offered participation on the condition that I make the acknowledgments set forth below.
Accordingly, in consideration of my participation in the LTIP, I acknowledge, confirm and agree
that:

	 	•	 	I have reviewed and understand the terms of the Confidential and Proprietary Information
and Non-Competition Agreement that I previously executed and delivered to the Company (the
“Agreement”). I reconfirm that I will abide by the terms of that Agreement, and further
acknowledge and agree that Section 6 of the Agreement, including each subpart, is
reasonable and necessary to protect the legitimate business interests of the Company.
These interests include, but are not limited to, protecting the Company’s confidential,
proprietary and trade secret information, goodwill, reputation, and customer base.
	 
	 	•	 	I have reviewed the Statement of Company Policy regarding Securities Trades by Company
Personnel (“Company Trading Policy”). I understand the Company’s interest in ensuring my
compliance with relevant securities laws governing the trading in Company securities, and I
agree to abide by the Company’s Trading Policy.
	 
	 	•	 	I have reviewed the Business Conduct Standards Policy. I understand the Company’s
interest in ensuring my compliance with relevant securities laws, and I agree to abide by
the Business Conduct Standards Policy.

	 	 	 	 	 	 	 
	Dated: September __, 2005	 	 	 	 
	 	 	 	 	 
	 

	 	Participant:
	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Received by Company on September __, 2005.	 	 	 	 
	 	 	 	 	 
	 

	 	Supervisor:exv10w7

 

Exhibit 10.7

Senior Vice President Level

PANERA, LLC

CONFIDENTIAL AND PROPRIETARY INFORMATION

AND NON-COMPETITION AGREEMENT

     I,
“FirstName» «LastName», in consideration of the offer of employment to me by Panera, LLC
(“Panera” and/or “Company”) or to continue employment with Panera, as the case may be, and the
compensation and other consideration that may hereafter be paid to me, agree to the following:

     1. EMPLOYEE WARRANTIES 

          I warrant that I am free to enter into the terms of this Panera, LLC Confidential And
Proprietary Information And Non-Competition Agreement (“Agreement”) and that I have no
obligations inconsistent with unrestrained employment by Panera and I further represent and warrant
that my performance of all the terms of this Agreement and as an employee of Panera does not and
will not breach any agreement to keep in confidence information acquired by me in confidence or in
trust prior to my employment by Panera. Moreover, I have not entered into, and I agree I will not
enter into, any agreement either written or oral in conflict herewith.

     I agree to: (i) devote my entire business time, attention, and energies to the business of
Panera and its operation, (ii) faithfully and competently perform all duties in connection with my
employment, and (iii) comply with Panera’s policies and procedures including, without limitation,
its Standards of Business Conduct.

     2. NO ASSURANCES OF CONTINUED EMPLOYMENT

          I understand and agree that nothing in this Agreement or any discussions I have had with
Panera or any of its representatives shall be construed to give me any right or assurance of
continued employment by Panera; and that my employment relationship with Panera is terminable at
will, with or without notice, with or without reason, by either Panera or me.

     3. CONFLICTING EMPLOYMENT

          I agree that during the term of my employment with Panera I will not engage in any other
employment, occupation, consulting or other business activity related to the business in which
Panera is now involved or becomes involved during the term of my employment, nor will I engage in
any other activities that conflict with my obligations to Panera, including, but not limited to,
soliciting franchisees or potential franchisees for personal gain and/or benefit.

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     4. CONFIDENTIAL NATURE; PUBLIC STATEMENTS

          4.1 I shall keep confidential the terms of this Agreement except to the extent such terms
become known or available to the public other then by my acts or omissions in breach of this
Agreement. A breach of this confidentiality undertaking shall relieve the Company of any of its
undertakings and obligations set forth herein.

          4.2 The provisions of Subsection 4.1 notwithstanding, it shall not be deemed a violation of my
duty to keep the terms hereof confidential should:

               (i) disclosure be compelled by applicable law or by order of either a court of competent
jurisdiction or governmental or administrative authority.

               (ii) disclosure of this Agreement be made by me to members of my immediate family, or to
professionals consulted by me for advise regarding this Agreement, including, without limitation,
lawyers and certified public accountants; provided that any person to whom such disclosure is
authorized shall agree to be bound by the terms of Section 4.

     5. CONFIDENTIAL AND PROPRIETARY INFORMATION

          5.1 I understand and acknowledge that in the course of my employment, I have received and/or
will receive and/or may receive and/or have access to certain “Confidential Information” (as
defined below) of Panera. I hereby acknowledge that such Confidential Information constitutes a
valuable and proprietary asset of Panera which Panera desires to protect.

          5.2 For purposes of this Agreement, “Confidential Information” shall include, but not be
limited to, the following: this Agreement; trade secrets; operating techniques, procedures and
methods; product specifications; customer lists; account information; price lists; discount
schedules; budgets, correspondence with customers, vendors, competitors, employees, partners,
franchisees or any other entity or person; drawings; software; samples; leads from any source;
marketing techniques; procedures and methods; employee lists; internal financial reports
(including, but not limited to, internal sales and/or profit and loss reports) of the Company and
its affiliates and/or franchisees; sourcing lists; and recruiting lists; and any other such
proprietary information, but shall not include any such information which has become generally
known to or available for use by the public other than by my acts or omissions.

          5.3 I agree that during the term of this Agreement and at any time thereafter, I will not,
without the written authorization of Panera: (i) disclose any Confidential Information to any
person or entity for any purpose whatsoever; or (ii) make use of any Confidential Information for
my own purposes or for the benefit of any other person or entity, other than Panera, and it is
expressly understood and agreed that this

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prohibition restricts me from using any Confidential Information in competition with Panera at any
time.

          5.4 I understand that my obligations under this Section 5 are in addition to, and not in
limitation of, my obligations under Panera’s Standards of Business Conduct (or successor document
thereto).

     6. COVENANTS NOT TO COMPETE

          6.1 I covenant and agree that I will not engage in any “Competitive Activity” (as defined
below) at any time during my employment with the Company and/or within the fifty-two (52) week
period following the date of my termination from the Company for any reason or no reason.

          6.2 “Competitive Activity” shall include the following:

               (i) being employed by, or directly or indirectly, advising, consulting in, or acting in any
way as an agent for any company listed on Attachment A (the “Listed Competitors”); or

               (ii) directly or indirectly engaging in, being employed by, advising, consulting in, or acting
in any way as an agent for any entity engaged, in whole or in part, in any retail food
establishment (including any restaurant or bakery, but excluding any exclusively based pizza
concept) in which any of the following categories constitutes more than twenty percent (20%) of its
revenues (an “Other Competitor”): (a) bakery goods and breads; (b) sandwiches, soups and/or salads,
other than those ordered through a wait person taking orders at a table (the term “sandwiches”
shall not include hamburgers); or (c) coffee and coffee-based drinks; as well as any business
(without regard to revenue) that manufactures, wholesales and/or distributes fresh or frozen dough
or bakery products which is or may be competitive with or adverse to the Company’s business and
which is within a 100 mile radius of where the Company is engaged in business or where the Company
is attempting to engage in business or where the Company may reasonably be expected to engage in
business within the 12 months immediately following my termination; or

               (iii) providing any services, directly or indirectly, to any division or direct or indirect
parent company of any Listed Competitor (including the parent companies listed on Attachment A), or
any Other Competitor, or to any other affiliated company of a Listed Competitor or Other
Competitor; other than any entity that owns a minority interest in a Listed Competitor or Other
Competitor solely as a passive investor, without any involvement in the management of such Listed
Competitor or Other Competitor; or

               (iv) having, or acquiring any interest in (whether as proprietor, partner, member,
stockholder, consultant, officer, director, or any type of principal

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whatsoever) in any Listed Competitor, Other Competitor or in any division, or direct or indirect
parent company of any Listed Competitor or Other Competitor, except that the direct or indirect
ownership of five percent (5%) or less of the stock of a company whose shares are listed on a
national securities exchange or are quoted on the National Association of Securities Dealers
Automated Quotation System shall not be deemed having or acquiring any such interest; or

               (v) directly or indirectly being employed by, advising,
consulting in, or acting in any way as an agent for any entity or individual: (a) which is a
franchisee of the Company, or (b) which was a franchisee of the Company at any time within the
twelve (12) months immediately prior to my termination from the Company, or (c) which the Company
is and/or was attempting to secure as a franchisee at any time within the twelve (12) months
immediately prior to my termination from the Company, or (d) which the Company may reasonably be
expected to secure as a franchisee at any time within the twelve (12) months immediately following
my termination or (e) which is or was an equity owner of 10% or more of a Company franchisee; or

               (vi) having, or acquiring any interest in (whether as proprietor, partner, member,
stockholder, consultant, officer, director, or any type of principal whatsoever) any entity: (a)
which is a franchisee of the Company, or (b) which was a franchisee of the Company at any time
within the twelve (12) months immediately prior to my termination from the Company, or (c) which
the Company is and/or was attempting to secure as a franchisee at any time within the twelve (12)
months immediately prior to my termination from the Company, or (d) which the Company may
reasonably be expected to secure as a franchisee at any time within the twelve (12) months
immediately following my termination, or (e) which includes an entity or individual equity owner
that is or was an equity owner of 10% or more of a Company franchisee; except that the direct or
indirect ownership of five percent (5%) or less of the stock of a company whose shares are listed
on a national securities exchange or are quoted on the National Association of Securities Dealers
Automated Quotation System shall not be deemed having or acquiring any such interest.

          6.3 Both during the term of my employment with the Company and at any time within the
twenty-four (24) month period following my termination from the Company for any reason or no
reason, I hereby agree not to directly or indirectly solicit or otherwise attempt to induce,
influence, or encourage any employee, independent contractor, consultant, supplier, or franchisee
of the Company to terminate and/or modify in any way his/her and/or its employment or other such
business relationship with the Company and/or its affiliates.

          6.4 For purposes of Section 6, references to “the Company’s business” and/or “where the
Company is engaged in business” and/or “where the Company is attempting to engage in business”
and/or “where the Company may reasonably be expected to engage in business”, shall mean any and/or
all current and/or future franchisee operations as well as any current and/or future Company
operations.

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          6.5 At any time I may request a waiver, in whole or in part, of Section 6 by notifying the
Company in writing of my request. Within 15 days of my providing the Company with relevant
information pertaining to such a waiver request and my providing such written information as the
Company may request regarding the potential violation of these covenants), the Company, through the
Chief Executive Officer and/or his/her designee, will consider such a request and communicate with
me.

     7. SEPARATION PAY

          7.1 Upon the occurrence of a “Separation Event”, as defined below, and provided I comply with
all of the obligations contained in this Agreement (including, but not limited to Section 6),
Panera agrees to: (i) pay me fifty-two (52) weeks (the “Separation Period”) of my “Base Pay” as
defined in Subsection 7.2 below; and (ii) at my option, continue my health and dental insurance
during the Separation Period, with then existing employee premium payments (if any) to be deducted
from my Separation Pay, with COBRA notification to follow (collectively, the “Separation Pay”).

          7.2 “Base Pay” shall mean my annualized base salary at the time of the “Separation Event” as
pre-established by the Company, plus my annual car allowance, if applicable. Unless specifically
mentioned in the preceding sentence, Base Pay shall not include any bonus, incentive compensation
(including, but not limited to, stock options) or other benefits or allowances I may otherwise be
entitled to receive as of the effective date of the Separation Event. If no base salary has been
pre-established by the Company, then Base Pay shall mean my previous year’s annualized base salary
as reflected in my most recent Form W-2 from Panera, plus my annual car allowance, if applicable.
Unless specifically mentioned in the preceding sentence, excluded from this calculation of my base
salary (and, accordingly, to be subtracted from my prior year’s Form W-2) are any bonuses,
incentive compensation (including, but not limited to, stock options) or other benefits or
allowances received in the prior year.

          7.3 Panera agrees that the Separation Pay shall be made in substantially equal installments
following my termination and disbursement shall be on the dates on which I would have received
regular salary payments.

          7.4 The Separation Pay (excluding the health and dental insurance components) will be reduced
(dollar for dollar) solely by any business compensation I receive and/or earn during the Separation
Period from any business source including, without limitation, salary, bonuses, consulting fees,
income from self-employment, stocks, stock options, equity rights, or otherwise (for purposes of
this Subsection 7.4 “cash or equivalent compensation”), other than (i) from Panera or (ii) from the
sale of Panera equity. For purposes of this Subsection 7.4, “cash or cash equivalent compensation”
as above defined shall not include inheritances, income received at any time from passive
investments and/or income received from active investments provided

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such active investments are in existence prior to my termination and are otherwise in compliance with this
Agreement.

          Additionally, if permitted by applicable law, the health and dental insurance components of my
Separation Pay, if elected, will similarly be reduced item by item by any corresponding health and
dental coverage that I receive during the separation Period from any source.

          I shall promptly notify Panera in writing of any and all such cash or cash equivalent
compensation and/or health and dental insurance benefits that I receive or earn during the
Separation Period.

          7.5 Panera shall have no obligation to pay the Separation Pay or any other compensation to me
if:

          (i) no Separation Event occurs, or

          (ii) I fail to comply with all of my obligations contained in this Agreement.

          7.6 For purposes of this Agreement, a “Separation Event” shall mean and be limited to the
termination of my employment with Panera other than (i) by Panera for cause (as defined below),
(ii) as a result of my death or permanent disability (unless termination for a disability is
pursuant to Section 7.8 below), or (iii) by my voluntary separation of services and employment
with, or resignation from, Panera.

          7.7 For purposes of this Agreement, “cause” shall include, for example, but is not limited to,
dishonesty; conviction of a felony or other crime involving moral turpitude; willful misconduct;
gross dereliction and/or gross neglect of duties; a material breach of the terms of this Agreement
which continues uncured for fifteen (15) days after Panera has given written notice to me
specifying in reasonable detail the material breach; or conflict of interest; in each case
determined in good faith by Panera consistent with the examples set forth herein.

          7.8 Panera may terminate my employment if, at any time during my employment, I become disabled
so that I am unable to perform the essential duties required of my employment, with or without
reasonable accommodation or whether any such accommodation would create an undue hardship on
Panera. The determination of my disability for purposes of this Subsection 7.8 shall be made by a
qualified physician acceptable to both parties. In the event that Panera and I are unable to agree
upon a qualified physician, each party shall select a qualified physician, and in the event those
two physicians are unable to agree upon a determination as to my disability, a third neutral
physician (“Neutral Physician”) acceptable to the parties shall be selected. The determination of
disability by the Neutral Physician shall be final and binding for purposes of this Agreement. In
the event my employment is terminated pursuant to this

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Subsection 7.8, said termination shall be deemed a “Separation Event” pursuant to Subsection 7.6 entitling me
to “Separation Pay”, provided I comply with the obligations contained in this Agreement, including
Section 7 and its subparts. In addition to any reductions in Severance Pay provided for in
Subsection 7.4, any Severance Pay made pursuant to this Subsection 7.8 shall also be offset dollar
for dollar by any payments made in the aggregate to me under Panera’s then existing Salary
Continuation and/or Long-Term Disability Plan(s).

          7.9 If I shall voluntarily terminate my employment with, or resign from, the Company I shall
provide the Company at least sixty (60) calendar days’ prior written notice thereof and I will be
expected to continue to perform my duties consistent with the Company’s good faith expectations up
to the date of my voluntary termination or resignation.

          7.10 All severance payments required to be made by Panera pursuant to this Agreement to me
shall be subject to the withholding of such amounts, if any, relating to tax (including federal and
state withholding, social security and other applicable taxes) and other payroll deductions Panera
may reasonably determine it should withhold pursuant to applicable law or regulation or agreement.

          7.11 In addition to my other obligations contained in this Agreement, in order to receive any
severance benefits as provided above, I shall voluntarily agree to and sign at or about the time of
my termination a full and complete release in the form appended hereto as Attachment B. It is
agreed and understood that prior to the execution by me of Attachment B, the Company may modify
Attachment B for the sole purpose of complying with any changes in the law.

     8. RETURN OF PANERA DOCUMENTS; COOPERATION

          8.1 When I leave the employ of Panera, I will deliver to Panera any and all drawings, notes,
memoranda, specifications, devices, formulas, and any other documents pertaining to Panera and/or
Panera’s business, including, but not limited to, computer files, together with all copies thereof,
and any other material containing or disclosing any Confidential Information as defined in Section
5 above (collectively “such Documents”). The above shall include any and all such Documents
contained on, for example, a home computer system. I further agree not to retain in any way any
such Documents, and I will, for example, first return such Documents and then delete such Documents
from any home computer system. I further agree that any property situated on Panera’s premises
and/or owned by Panera, including disks and other storage media, filing cabinets or other work
areas, is subject to inspection by Panera personnel at any time with or without notice.

          8.2 I agree that during my employment and thereafter, at Panera’s reasonable expense, I will
do all things including, but not limited to, the giving of evidence in suits and other proceedings
which Panera shall deem necessary or appropriate

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to obtain, maintain or assert rights accruing to, and defending claims against, Panera, its affiliates and/or
franchisees in connection with which I have knowledge, information or expertise; provided, however,
that Panera shall not unreasonably disrupt my current employment and Panera shall compensate me for
the value of my time spent assisting in such matters at my then current compensation rate if I am
not so compensated by my then current employer.

     9. BENEFITS

          Except as herein otherwise provided herein, any benefits arising out of or connected with my
employment shall cease as of the effective date of a Separation Event or other termination of
active employment, as applicable. The foregoing shall not relieve Panera of its obligations under
the law pertaining to my benefits following the effective date of a Separation Event or other
termination of employment.

     10. INJUNCTIVE RELIEF

          I acknowledge that Panera’s remedy at law for a breach of Sections 4, 5, 6 and 8 of this
Agreement would be inadequate and I hereby expressly agree that Panera shall be entitled to apply
to any court, having jurisdiction, for an injunction restraining me in the event of a breach,
actual or threatened, of the covenants contained in this Agreement without the necessity of proof
of actual damages. Such right shall be in addition to any other remedies provided for herein or
otherwise available at law or equity. I further waive any requirement that a bond be posted or that
irreparable damage be demonstrated as a condition to any injunctive relief.

     11. ARBITRATION

          Any controversy or claim arising out of or relating to my employment with Panera (including,
but not limited to, applicable state and/or federal law), this Agreement, or the breach hereof
(“claims”), except for claims which may be enforced pursuant to Section 10, shall be settled
exclusively by arbitration before a single arbitrator which shall be held in the City of Boston, in
accordance with the Commercial Arbitration Rules of the American Arbitration Association. The
provisions hereof shall be a complete bar and defense to any suit, action or proceeding instituted
in any federal, state or local court or before any administrative tribunal with respect to any
matter which is arbitrable as herein set forth. The provision of this section with respect to
arbitration shall survive the termination or expiration of this Agreement. Nothing herein contained
shall be deemed to give any arbitrator any authority, power, or right to alter, change, amend,
modify, add to, or subtract from any provisions of this Agreement the arbitrator shall have no
authority to award punitive damages or attorney’s fees to any party. The decision of the
arbitrator shall be final and conclusive. Judgment on an award rendered by the arbitrator may be
entered in any court of competent jurisdiction.

     12. NOTICES

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          Any notices required or permitted hereunder shall be given to the appropriate party at the
address specified below or at such other address as the party shall specify in writing. Such
notice shall be deemed given upon personal delivery to the appropriate address or if sent by
certified or registered mail, three (3) days after the date of mailing.

     (i) All notices to me shall be addressed to me at:

                                                  

                                                  

or to such other place(s) as I may designate by written notice to Panera.

     (ii) All notices to Panera shall be addressed to Panera at:

63 Kendrick Street

Needham, NA 02494

Attention: CEO

or to such other place(s) as the Company may designate by written notice to me.

     13. NOTIFICATION OF NEW EMPLOYER

          I agree that I will advise any prospective employer of the covenants and restrictions of this
Agreement before accepting any offer from another employer and such notification shall not be a
breach of Subsection 4.1.

     14. DEATH

          This Agreement and all obligations of Panera hereunder including, but not limited to, any
severance obligation, shall terminate upon my death. In the event of a termination upon my death,
monies or compensation owed by Panera to me up to the date of termination shall be paid to my
estate or designee.

     15. MISCELLANEOUS

          15.1 Except as limited by Section 11 above, I agree and consent that this Agreement and any
dispute arising hereunder shall be governed by the laws of the Commonwealth of Massachusetts and
its applicable courts shall have jurisdiction over such matters; and I agree and consent to waive
trial by jury in any action or proceeding between the parties.

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          15.2 No waiver by Panera of any breach of this Agreement shall be a waiver of any preceding or
succeeding breach. No waiver by Panera of any right under
this Agreement shall be construed as a waiver of any other right. Panera shall not be required to
give notice to enforce strict adherence to all terms of this Agreement.

          15.3 In case any one or more of the provisions contained in this Agreement shall, for any
reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect the other provisions of this Agreement, this Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never been contained
herein, and each provision of this Agreement shall, if necessary, be deemed to be independent of
each other and each supported by valid consideration. If moreover, any one or more of the
provisions contained in this Agreement shall for any reason be held to be excessively broad as to
duration, geographical scope, activity or subject, it shall be construed by limiting and reducing
it, so as to be enforceable to the extent compatible with the applicable law as it shall then
appear.

          15.4 To the extent necessary to provide Panera with the full and complete benefit of this
Agreement, the provisions in this Agreement and my obligations hereunder shall survive the
termination of this Agreement and shall not be affected by such termination. The provisions of
this Agreement shall also survive the assignment of this Agreement by Panera to any successor in
interest or other assignee.

          15.5 This Agreement will be binding upon my heirs, executors, administrators and other legal
representatives and will be for the benefit of the Panera, its successors, and its assigns.

          15.6 The captions and headings throughout this Agreement are for convenience and reference
only, and they shall in no way be held or deemed to define, modify or add to the meaning, scope or
intent of any provision of this Agreement.

          15.7 Except as otherwise contemplated in Subsection 5.4 hereof, this Agreement is the final,
complete and exclusive agreement of the parties with respect to the subject matter hereof and
supersedes and merges all prior discussions between us. No modification of or amendment to this
Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing
and signed by the party to be charged. Any subsequent change or changes in my duties, salary or
compensation will not affect the validity or scope of this Agreement.

          15.8 This Agreement may be executed simultaneously in any number of counterparts, each of
which when so executed and delivered shall be deemed to be an original but all of which
counterparts shall together constitute but one agreement.

          15.9 By signing below, I acknowledge receiving a copy of this Agreement; I acknowledge and
agree that I am entering into this Agreement voluntarily

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and of my own free will; and I acknowledge
and agree that I have not been coerced or suffered any duress in order to induce me to enter into
this Agreement.

          15.10 This Agreement shall be effective as of the first date signed below.

     16. ATTORNEY REVIEW

     I acknowledge that I have been expressly advised by Panera to review this Agreement with an
attorney prior to executing it.

     I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND THE MEANING OF ITS VARIOUS TERMS AND THE
CONSEQUENCES OF SIGNING THIS AGREEMENT.

     I HAVE BEEN GIVEN MORE THAN REASONABLE TIME TO CONSIDER AND ACCEPT THE CONDITIONS OF THIS
AGREEMENT.

(PLEASE SIGN AND NOTARIZE THE NEXT PAGE)

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	 	 	EXECUTED UNDER SEAL
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	 

	 	Signature	 	 
	 
	 	 	 	 
	 	 	 
	 

	 	Date	 	 
	 
	 	 	 	 
	 	 	 
	 

	 	Name
	 	(typed or printed)
	 
	 	 	 	 
	 	 	SUBSCRIBED AND SWORN TO

before me this                    day of                    , 20     
	 
	 	 	 	 
	 	 	 
	 	 	Notary Public

	 	 	 	 	 
	ACCEPTED AND AGREED TO:	 	 
	 
	 	 	 	 
	PANERA, LLC	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	Name:
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	Title:
	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 
	Dated:
	 	 	 	 
	 	 	 	 	 

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ATTACHMENT A

[Attachment A, illustrative list of Panera’s competitors or their affiliates, omitted. The
Registrant
undertakes to furnish supplementally a copy of such list to the Commission upon request.]

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ATTACHMENT B

GENERAL RELEASE

     I,
“FirstName» «LastName», of ___, ___, for good and adequate
consideration (including the consideration described in the attached Agreement), do hereby release
and absolutely and forever discharge Panera, LLC, its owners, predecessors, successors, affiliates,
assigns, officers, employees, franchisees, insurers, attorneys, investors and agents (hereinafter
“Panera”), from any and all suits, claims, demands, debts, sums of money, damages, interest,
attorneys’ fees, expenses, actions, causes of action, judgments, accounts, promises, contracts,
agreements, and any and all claims in law or in equity, whether now known or unknown, which I ever
had, now have, or which I, my heirs, executors, administrators or assigns, hereafter can, shall or
may have against Panera arising from any events occurring from the beginning of time to this date,
including, without limitation of the foregoing generality, all of same arising directly or
indirectly out of, in connection with and/or in any manner relating to my employment with and/or
separation from Panera, including, but expressly not limited to, any claims which I may have to
recover damages of any kind, including back pay, front pay, damages asserted for physical and
emotional injuries, or any claim to reinstatement and/or employment, or any claims, actions,
complaints or charges brought by me or on my behalf or which could have been brought by me or on my
behalf under the Employment Retirement Income Security Act of 1974 (“ERISA”), the Americans with
Disabilities Act (“ADA”), Title VII of the Civil Rights Act, 42 U.S.C. §§2000(e) et seq., the Age
Discrimination in Employment Act (“ADEA”) or under any other federal, state, municipal, city, town
or common law.

     I further waive my right to any monetary recovery should any federal, state, or local
administrative agency pursue any claim(s) on my behalf arising out of or related in any way to my
employment with Panera and/or separation from employment with Panera.

     1. This General Release is a part of the Agreement between me and Panera that is written in a
manner which I understand and which entitles me to receive money and other things of value to which
under my employment arrangement I would not have received apart from the Agreement.

     2. By this General Release, Panera has given me written notice to consult an attorney and I
have been given the opportunity to consult with counsel of my own choosing.

     3. I have been given adequate time (including in excess of 21 days) to consider this General
Release before signing it.

     4. I have the right to revoke this General Release within eight (8) days of signing it by
notifying Scott G. Blair, Esq., 42 Charles Street, Hingham, Massachusetts 02043 in writing of my
intention to do so.

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     5. By signing this General Release, I understand that I am waiving any rights or claims
arising under ERISA, ADA, ADEA, TITLE VII or under any other federal, state, municipal, city, town
or common law.

     I acknowledge that the execution of this General Release is my own free, voluntary and knowing
act and deed.

Subscribed to and sworn before me, this

___day of___, 2___

Notary Public

My commission expires:

Page 15 of 15

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