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CKE RESTAURANTS,
INC.
AMENDMENT NO. 3
TO
EMPLOYMENT
AGREEMENT
This Amendment No. 3 (the “
Amendment ”) to Employment Agreement is made effective
as of December 16, 2008, by and between CKE Restaurants, Inc. (the
“ Company ”) and Brad R. Haley (the “
Employee ”).
RECITALS:
A. The Company and
the Employee entered into an Employment Agreement dated as of
January 2004, and amended on December 6, 2005 and March 20, 2007
(the “ Agreement ”).
B. The Company and
Employee now desire to amend the Agreement as set forth
below.
AGREEMENT
1. Term
. Section 2 is hereby amended to read in its entirety as
follows:
“2.
Term . The term of this Agreement shall commence
on the first day of the Company’s fiscal year commencing in
the year 2004 (the “Effective Date”) and, prior to July
11, 2012, shall terminate three (3) years following the date on
which notice of non-renewal or termination of this Agreement is
given by either party to the other and, on and subsequent to July
11, 2012, shall terminate on July 11, 2015, subject in all cases to
prior termination as set forth in Section 7 below (the “
Term ”). Thus, prior to July 11, 2012, the
Term shall be renewed automatically on a daily basis so that the
outstanding Term is always three (3) years following the date on
which notice of non-renewal or termination is given by either party
to the other and, on July 11, 2012, the Term shall convert into a
remaining three (3) year term ending on July 11,
2015. The Term may be extended at any time upon mutual
written agreement of the parties.”
2. Other
Compensation and Fringe Benefits . Section 4(d) of
the Agreement is hereby amended to add the following sentence at
the end thereof:
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