Letter Agreement Regarding Employment Terms Between Nathan's Famous, Inc. and Donald L. Perlyn

Summary

Nathan's Famous, Inc. and Donald L. Perlyn agree that if Nathan's sells its stock in Miami Subs Corporation and Mr. Perlyn's current employment agreement with Miami Subs ends as a result, Nathan's will offer Mr. Perlyn a new employment agreement with terms similar to his existing one. This agreement is made in exchange for Mr. Perlyn signing an amendment to his current employment contract. The letter is signed by both parties and outlines their mutual understanding regarding future employment arrangements.

EX-10.2 3 exhibit10-2.txt LETTER AGT. NATHAN'S FAMOUS, INC. 1400 Old Country Road Westbury, New York 11590 July 12, 2005 Donald L. Perlyn 2798 N.W. 27th Terrace Boca Raton, Fl. 33434 Re: Employment Agreement with Miami Subs Corporation dated as of ------------------------------------------------------------ January 15, 2005 ("Employment Agreement") ------------------------------------------------------------ Dear Mr. Perlyn, This letter will confirm our agreement that, in consideration of your execution and delivery of Amendment No. 1 to Employment Agreement between Miami Subs Corporation and you, upon any sale by Nathan's Famous, Inc. of the stock of Miami Subs Corporation and any termination of the Employment Agreement upon the consummation of such sale, the undersigned will enter into an employment agreement with you on substantially the same terms and conditions as those currently contained in such Employment Agreement. Very truly yours, NATHAN'S FAMOUS, INC. By: /s/Wayne Norbitz ------------------------ Title:President ACCEPTED AND AGREED By: /s/Donald Perlyn -------------------- Donald Perlyn