KKD » Topics » Definitions

This excerpt taken from the KKD 8-K filed Dec 17, 2009.

22. Definitions

     (a) “Retirement” shall mean Employee’s Termination of Employment at a time when the sum of Employee’s age and years of employment with the Corporation, its Subsidiaries and affiliates equals or exceeds 65.

     (b) “Termination of Employment” means the discontinuance of Employee’s service relationship with the Corporation and its Subsidiaries, including but not limited to service as an employee of the Corporation and its Subsidiaries, as a non-employee member of the board of directors of the Corporation, or as a consultant or advisor to the Corporation and its Subsidiaries. Except to the extent provided otherwise in an agreement or determined otherwise by the Committee, a Termination of Employment shall not be deemed to have occurred if the capacity in which Employee provides service to the Corporation changes (for example, a change from consultant status to Employee status, or vice versa) or if Employee transfers among the various entities constituting the Corporation and its Subsidiaries, so long as there is no interruption in the provision of service by Employee to the Corporation and its Subsidiaries. Employee shall not be deemed to have incurred a Termination of Employment if Employee is on military leave, sick leave, or other bona fide leave of absence approved by the Corporation of 180 days or fewer (or any longer period during which Employee is guaranteed reemployment by statute or contract.) In the event an Employee’s leave of absence exceeds this period, he or she will be deemed to have incurred a Termination of Employment on the day following the expiration date of such period.


These excerpts taken from the KKD 10-K filed Apr 17, 2009.

22. Definitions

     (a) “Retirement” shall mean Employee’s Termination of Employment at a time when, the sum of Employee’s age and years of employment with the Corporation, its Subsidiaries and affiliates equals or exceeds 65.

     (b) “Termination of Employment” means the discontinuance of Employee’s service relationship with the Corporation, its Subsidiaries and affiliates, including but not limited to service as an employee of the Corporation, its Subsidiaries and affiliates, as a non-employee member of the board of directors of the Corporation, or as a consultant or advisor to the Corporation, its Subsidiaries and affiliates. Except to the extent provided otherwise in an agreement or determined otherwise by the Committee, a Termination of Employment shall not be deemed to have occurred if the capacity in which Employee provides service to the Corporation changes (for example, a change from consultant status to Employee status, or vice versa) or if Employee transfers among the various entities constituting the Corporation and its Subsidiaries and affiliates, so long as there is no interruption in the provision of service by Employee to the Corporation and its Subsidiaries and affiliates. The determination of whether an Employee has incurred a Termination of Employment shall be made by the Committee in its discretion. An Employee shall not be deemed to have incurred a Termination of Employment if Employee is on military leave, sick leave, or other bona fide leave of absence approved by the Corporation of 180 days or fewer (or any longer period during which Employee is guaranteed reemployment by statute or contract.) In the event an Employee’s leave of absence exceeds this period, he or she will be deemed to have incurred a Termination of Employment on the day following the expiration date of such period.

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22. Definitions


     (a)
“Retirement” shall mean Employee’s Termination of Employment at a time when, the sum
of Employee’s age and years of employment with the Corporation, its Subsidiaries
and affiliates equals or exceeds 65.


     (b)
“Termination of Employment” means the discontinuance of Employee’s service relationship
with the Corporation, its Subsidiaries and affiliates, including but not limited
to service as an employee of the Corporation, its Subsidiaries and affiliates,
as a non-employee member of the board of directors of the Corporation, or as a
consultant or advisor to the Corporation, its Subsidiaries and affiliates.
Except to the extent provided otherwise in an agreement or determined otherwise
by the Committee, a Termination of Employment shall not be deemed to have
occurred if the capacity in which Employee provides service to the Corporation
changes (for example, a change from consultant status to Employee status, or
vice versa) or if Employee transfers among the various entities constituting the
Corporation and its Subsidiaries and affiliates, so long as there is no
interruption in the provision of service by Employee to the Corporation and its
Subsidiaries and affiliates. The determination of whether an Employee has
incurred a Termination of Employment shall be made by the Committee in its
discretion. An Employee shall not be deemed to have incurred a Termination of
Employment if Employee is on military leave, sick leave, or other bona fide
leave of absence approved by the Corporation of 180 days or fewer (or any longer
period during which Employee is guaranteed reemployment by statute or contract.)
In the event an Employee’s leave of absence exceeds this period, he or she will
be deemed to have incurred a Termination of Employment on the day following the
expiration date of such period.


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22. Definitions


     (a)
“Retirement” shall mean Employee’s Termination of Employment at a time when, the sum
of Employee’s age and years of employment with the Corporation, its Subsidiaries
and affiliates equals or exceeds 65.


     (b)
“Termination of Employment” means the discontinuance of Employee’s service relationship
with the Corporation, its Subsidiaries and affiliates, including but not limited
to service as an employee of the Corporation, its Subsidiaries and affiliates,
as a non-employee member of the board of directors of the Corporation, or as a
consultant or advisor to the Corporation, its Subsidiaries and affiliates.
Except to the extent provided otherwise in an agreement or determined otherwise
by the Committee, a Termination of Employment shall not be deemed to have
occurred if the capacity in which Employee provides service to the Corporation
changes (for example, a change from consultant status to Employee status, or
vice versa) or if Employee transfers among the various entities constituting the
Corporation and its Subsidiaries and affiliates, so long as there is no
interruption in the provision of service by Employee to the Corporation and its
Subsidiaries and affiliates. The determination of whether an Employee has
incurred a Termination of Employment shall be made by the Committee in its
discretion. An Employee shall not be deemed to have incurred a Termination of
Employment if Employee is on military leave, sick leave, or other bona fide
leave of absence approved by the Corporation of 180 days or fewer (or any longer
period during which Employee is guaranteed reemployment by statute or contract.)
In the event an Employee’s leave of absence exceeds this period, he or she will
be deemed to have incurred a Termination of Employment on the day following the
expiration date of such period.


-5-





22. Definitions


     (a)
“Retirement” shall mean Employee’s Termination of Employment at a time when, the sum
of Employee’s age and years of employment with the Corporation, its Subsidiaries
and affiliates equals or exceeds 65.


     (b)
“Termination of Employment” means the discontinuance of Employee’s service relationship
with the Corporation, its Subsidiaries and affiliates, including but not limited
to service as an employee of the Corporation, its Subsidiaries and affiliates,
as a non-employee member of the board of directors of the Corporation, or as a
consultant or advisor to the Corporation, its Subsidiaries and affiliates.
Except to the extent provided otherwise in an agreement or determined otherwise
by the Committee, a Termination of Employment shall not be deemed to have
occurred if the capacity in which Employee provides service to the Corporation
changes (for example, a change from consultant status to Employee status, or
vice versa) or if Employee transfers among the various entities constituting the
Corporation and its Subsidiaries and affiliates, so long as there is no
interruption in the provision of service by Employee to the Corporation and its
Subsidiaries and affiliates. The determination of whether an Employee has
incurred a Termination of Employment shall be made by the Committee in its
discretion. An Employee shall not be deemed to have incurred a Termination of
Employment if Employee is on military leave, sick leave, or other bona fide
leave of absence approved by the Corporation of 180 days or fewer (or any longer
period during which Employee is guaranteed reemployment by statute or contract.)
In the event an Employee’s leave of absence exceeds this period, he or she will
be deemed to have incurred a Termination of Employment on the day following the
expiration date of such period.


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These excerpts taken from the KKD 10-Q filed Dec 11, 2008.
Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

     

Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

     

Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

     

These excerpts taken from the KKD 10-K filed Apr 17, 2008.
Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

     

Definitions. For purposes of this Agreement, the following terms have the meanings set forth below:

     

22. Definitions

     (a) “Retirement” shall mean Employee’s Termination of Employment at a time when, the sum of Employee’s age and years of employment with the Corporation, its Subsidiaries and affiliates equals or exceeds 65.

     (b) “Termination of Employment” means the discontinuance of Employee’s service relationship with the Corporation, its Subsidiaries and affiliates, including but not limited to service as an employee of the Corporation, its Subsidiaries and affiliates, as a non-employee member of the board of directors of the Corporation, or as a consultant or advisor to the Corporation, its Subsidiaries and affiliates. Except to the extent provided otherwise in an agreement or determined otherwise by the Committee, a Termination of Employment shall not be deemed to have occurred if the capacity in which Employee provides service to the Corporation changes (for example, a change from consultant status to Employee status, or vice versa) or if Employee transfers among the various entities constituting the Corporation and its Subsidiaries and affiliates, so long as there is no interruption in the provision of service by Employee to the Corporation and its Subsidiaries and affiliates. The determination of whether an Employee has incurred a Termination of Employment shall be made by the Committee in its discretion. An Employee shall not be deemed to have incurred a Termination of Employment if Employee is on military leave, sick leave, or other bona fide leave of absence approved by the Corporation of 180 days or fewer (or any longer period during which Employee is guaranteed reemployment by statute or contract.) In the event an Employee’s leave of absence exceeds this period, he or she will be deemed to have incurred a Termination of Employment on the day following the expiration date of such period.

20. Definitions

     (a) “Retirement” shall mean the Optionee’s Termination of Employment at a time when for an Optionee, the sum of the Optionee’s age and years of employment with the Corporation, its Subsidiaries and affiliates equals or exceeds 65.

     (b) “Termination of Employment” means the discontinuance of the Optionee’s service relationship with the Corporation, its Subsidiaries and affiliates, including but not limited to service as an Optionee of the Corporation, its Subsidiaries and affiliates, as a non-Optionee member of the board of directors of the Corporation, or as a consultant or advisor to the Corporation, its Subsidiaries and affiliates. Except to the extent provided otherwise in an Agreement or determined otherwise by the Committee, a Termination of Employment shall not be deemed to have occurred if the capacity in which the Optionee provides service to the Corporation changes (for example, a change from consultant status to Optionee status or vice versa) or if the Optionee transfers among the various entities constituting the Corporation and its Subsidiaries and affiliates, so long as there is no interruption in the provision of service by the Optionee to the Corporation and its Subsidiaries and affiliates. The determination of whether an Optionee has incurred a Termination of Employment shall be made by the Committee in its discretion. An Optionee shall not be deemed to have incurred a Termination of Employment if the Optionee is on military leave, sick leave, or other bona fide leave of absence approved by the Corporation of 180 days or fewer (or any longer period during which the Optionee is guaranteed reemployment by statute or contract.) In the event an Optionee’s leave of absence exceeds this period, he or she will be deemed to have incurred a Termination of Employment on the day following the expiration date of such period.

22. Definitions


     (a) “Retirement” shall mean Employee’s
Termination of Employment at a time when, the sum of
Employee’s age and years of employment with the Corporation, its
Subsidiaries and affiliates equals or exceeds 65.


     (b) “Termination of Employment” means
the discontinuance of Employee’s service relationship with the Corporation, its
Subsidiaries and affiliates, including but not limited to service as an employee
of the Corporation, its Subsidiaries and affiliates, as a non-employee member of
the board of directors of the Corporation, or as a consultant or advisor to the
Corporation, its Subsidiaries and affiliates. Except to the extent provided
otherwise in an agreement or determined otherwise by the Committee, a
Termination of Employment shall not be deemed to have occurred if the capacity
in which Employee provides service to the Corporation changes (for example, a
change from consultant status to Employee status, or vice versa) or if Employee
transfers among the various entities constituting the Corporation and its
Subsidiaries and affiliates, so long as there is no interruption in the
provision of service by Employee to the Corporation and its Subsidiaries and
affiliates. The determination of whether an Employee has incurred a Termination
of Employment shall be made by the Committee in its discretion. An Employee
shall not be deemed to have incurred a Termination of Employment if Employee is
on military leave, sick leave, or other bona fide leave of absence approved by
the Corporation of 180 days or fewer (or any longer period during which Employee
is guaranteed reemployment by statute or contract.) In the event an Employee’s
leave of absence exceeds this period, he or she will be deemed to have incurred
a Termination of Employment on the day following the expiration date of such
period.


This excerpt taken from the KKD 10-K filed Apr 12, 2007.

23. Definitions

     (a) “Cause” shall be limited to the following events: (i) drug abuse by Optionee; (ii) alcohol abuse by Optionee if it interferes with the efficient conduct of business by Optionee; (iii) theft, embezzlement or other similar act by Optionee of any tangible or intangible asset of the Corporation or any customer or supplier of the Corporation; (iv) commission of any other criminal act by Optionee (whether or not Optionee is prosecuted and convicted) if such act causes or is likely to cause damage to the business of the Corporation; (v) a material breach by Optionee of any written agreement between the Corporation and Optionee, or any written policy of the Corporation known by and applicable to all its employees, but a mere mistake in business judgment shall not constitute “Cause” unless it is a part of a continuing pattern of bad judgment that has caused actual damage to the Corporation or its business, and (vi) willful failure by Optionee to follow the instructions of the Board of Directors of the Corporation (the “Board”) or an officer or other supervisory employee of the Corporation duly authorized by the Board, the Bylaws of the Corporation or an officer of the Corporation authorized to give instructions to Optionee, to the extent such instructions are reasonably related to the business of the Corporation, are given in good faith to promote the interest of the Corporation, would not require Optionee to commit any illegal act and are not given to provide the Corporation with cause for terminating Optionee.

     (b) A “Corporate Reorganization” shall be deemed to have occurred if:

     (i) any “Person” as defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Act”), including a “group” (as that term is used in Rules 13(d)(3) and 14(d)(2) under the Act), but excluding the Corporation and any employee benefit plan sponsored or maintained by the Corporation, including any trustee of such plan acting as trustee:

     (A) consummates a tender or exchange offer for any shares of the Stock pursuant to which at least fifty percent (50%) of the outstanding shares of the Stock are purchased; or

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     (B) together with its “affiliates” and “associates” (as those terms are defined in Rule 12b-2 under the Act) becomes the “Beneficial Owner” (within the meaning of Rule 13d-3 under the Act) of at least fifty percent (50%) of the Stock;

     (ii) a merger or consolidation of the Corporation with or into another corporation is consummated and the Corporation’s shareholders immediately prior to the transaction do not own at least fifty percent (50%) of the surviving company’s outstanding stock immediately following the transaction, a sale or other disposition of all or substantially all of the Corporation’s assets, or the liquidation of the Corporation; or

     (iii) during any period of 24 consecutive months during the existence of this Agreement, the individuals who, at the beginning of such period, constitute the Board (the “Incumbent Directors”) cease for any reason other than death to constitute at least a majority thereof; provided, however, that a director who was not a director at the beginning of such 24 month period shall be deemed to have satisfied such 24 month requirement, and be an Incumbent Director, if such director was elected by, or on the recommendation of or with the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors either actually, because they were directors at the beginning of such 24 month period, or by prior operation of this subparagraph (iii).

     (c) “Detrimental Activity” means any activity in competition with any activity of the Corporation, or inimical, contrary or harmful to the interests of the Corporation, including but not limited to (i) conduct related to Optionee’s employment for which either criminal or civil penalties against Optionee may be sought, (ii) violation of Corporation policies, including, without limitation, the Corporation’s insider trading policy, (iii) accepting employment with or serving as a consultant, advisor or in any other capacity to an employer that is in competition with or acting against the interests of the Corporation, including employing or recruiting any present, former or future employee of the Corporation, (iv) disclosing or misusing any confidential information or material concerning the Corporation, (v) participating in a hostile takeover attempt; or (vi) making disparaging remarks about the Corporation (including its officers or directors) or the Corporation’s goods and services.

     (d) “Reload Option” means an Option granted under exercise of an Option having reload rights under the terms and conditions set forth in Section 6.

     (e) “Retirement” shall mean the Optionee’s Termination of Employment at a time when for an employee, the sure of the Optionee’s age and years of employment with the Corporation equals or exceeds 65.

     (f) “Termination of Employment” means the discontinuance of the Optionee’s service relationship with the Corporation, including but not limited to service as an employee of the Corporation, as a non-employee member of the board of directors of the Corporation, or as a consultant or advisor to the Corporation. Except to the extent provided otherwise in an Agreement or determined otherwise by the Committee, a Termination of Employment shall not be deemed to have occurred if the capacity in which the Optionee provides service to the Corporation changes (for example, a change from consultant status to Employee status) or if the Optionee transfers among the various entities constituting the Corporation, so long as there is no

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interruption in the provision of service by the Optionee to the Corporation. The determination of whether a Optionee has incurred a Termination of Employment shall be made by the Committee in its discretion. A Optionee shall not be deemed to have incurred a Termination of Employment if the Optionee is on military leave, sick leave, or other bona fide leave of absence approved by the Corporation of 90 days or fewer (or any longer period during which the Optionee is guaranteed reemployment by statute or contract.) In the event a Optionee’s leave of absence exceeds this period, he will be deemed to have incurred a Termination of Employment on the day following the expiration date of such period.

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     IN WITNESS WHEREOF, the Corporation and Optionee have executed this Agreement hereto as of the day and year first above written.

  KRISPY KREME DOUGHNUTS, INC. 
 
 
By:       
  Print Name:     
  Title:     
 
 
 
[    ]   

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