Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On February 27, 2018, Fiesta Restaurant Group, Inc. (the "Company") and Danny K. Meisenheimer, the Company's Senior Vice President, Chief Operating Officer and President, Pollo Tropical, entered into an agreement (the "Agreement"). The term of the Agreement is effective December 31, 2018 (concurrent with the expiration of the agreement between the Company and Mr. Meisenheimer dated November 4, 2016) and continues until the date of Mr. Meisenheimer's termination of employment with the Company. The Agreement provides that upon termination of Mr. Meisenheimer's employment by the Company without Cause (as defined in the Agreement) or termination of Mr. Meisenheimer's employment by Mr. Meisenheimer with Good Reason (as defined in the Agreement), Mr. Meisenheimer is entitled to (i) an amount equal to one times Mr. Meisenheimer's highest annual base salary in effect prior to the date Mr. Meisenheimer's employment is terminated (plus interest equal to the Prime Rate (as defined in the Agreement) plus three percent, with such interest accruing from the date of termination of employment until the date of payment) and (ii) an amount equal to a pro rata portion of the aggregate bonus under the Company’s Executive Bonus Plan (as defined in the Agreement) for the year in which Mr. Meisenheimer’s employment is terminated (plus any earned and unpaid bonus amounts under the Company’s Executive Bonus Plan for the year prior to the year in which Mr. Meisenheimer's employment is terminated).
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
Fiesta Restaurant Group, Inc. ExhibitEX-10.1 2 frgi-ex101_20188kx030518.htm DANNY MEISENHEIMER SEVERANCE AGREEMENT Exhibit Exhibit 10.1AGREEMENTAgreement (the “Agreement”) dated as of February 27,…To view the full exhibit click here
About Fiesta Restaurant Group, Inc. (NASDAQ:FRGI)
Fiesta Restaurant Group, Inc. (Fiesta) owns, operates and franchises approximately two fast-casual restaurant brands, Pollo Tropical and Taco Cabana. The Company operates through the Pollo Tropical and Taco Cabana segments. Its Pollo Tropical is a fast-casual restaurant brand offering a range of Caribbean food. Taco Cabana restaurants offers a selection of hand-made Mexican food. Pollo Tropical restaurants offer Caribbean menu items, featuring its bone-in chicken marinated in blend of tropical fruit juices and grilled over an open flame. Its Taco Cabana restaurants serves Mexican food, including flame-grilled steak and chicken fajitas served on sizzling iron skillets, quesadillas, hand-rolled flautas, enchiladas, burritos, tacos flour tortillas, customizable salads served in its Cabana Bowl, and its breakfast tacos. It also offer a self-serve salsa bar, which includes a selection of made-from-scratch salsas, sauces, sliced jalapenos, chopped cilantro, chopped onions and other items.
