Adjustment to EBITDA Calculation for Executive Bonus Awards – EPL Intermediate, Inc. and El Pollo Loco, Inc.
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Summary
EPL Intermediate, Inc. and El Pollo Loco, Inc. have approved a change to how incentive bonuses are calculated for management and executive employees. For fiscal years 2007 and 2008, the calculation of EBITDA, which determines bonus payouts, will now include expenses from the company's litigation with El Pollo Loco S.A. de C.V. and Arch Insurance Company. This adjustment affects all employees participating in the incentive bonus plan based on budgeted EBITDA.
EX-10.44 9 v107343_ex10-44a.htm
Exhibit 10.44
Adjustment to Calculation of EBITDA Applicable to Executive Bonus Awards
On February 6, 2008, the Compensation Committees and Boards of Directors of EPL Intermediate, Inc. and El Pollo Loco, Inc. (together, the “Company”) approved an adjustment in the calculation of incentive bonuses for management level employees, including executive officers. For all employees, including executive officers, who participate in an incentive bonus plan which is based on the Company’s achievement of budgeted EBITDA, the actual EBITDA amount for fiscal years 2007 and 2008 will include expenses related to the Company’s litigation involving El Pollo Loco S.A. de C.V. and Arch Insurance Company.
