Waiver and Release of Change in Control Agreement between James C. Richardson, Jr. and Pierre Foods, Inc.

Summary

This agreement, dated October 21, 2002, is between James C. Richardson, Jr. and Pierre Foods, Inc. Mr. Richardson agrees to release and waive all rights under a previous Change in Control Agreement dated July 6, 1999. In exchange for $10 and other consideration, the prior agreement is terminated and no longer has any effect as of the effective date. Both parties acknowledge and accept this termination.

EX-10.2 4 g80177exv10w2.htm WAIVER & RELEASE OF CHANGE OF CONTROL / RICHARDSON exv10w2

Exhibit 10.2

WAIVER AND RELEASE
OF
CHANGE IN CONTROL AGREEMENT

THIS WAIVER AND RELEASE made this 21st day of October, 2002 (the “Effective Date”) by James C. Richardson, Jr. (“Executive”) to Pierre Foods, Inc. (the “Company”).

In consideration of Ten dollars ($10.00) and other valuable consideration, the receipt and legal sufficiency of which is hereby acknowledged, the undersigned Executive does hereby release the Company from, and waive all rights and interest in, that certain Amended and Restated Change in Control Agreement dated July 6, 1999 (“Agreement”) by and between the Company and the Executive, and said Agreement is hereby terminated and is of no further force or effect, effective as of the Effective Date.

IN WITNESS WHEREOF, the undersigned Executive has executed this Waiver and Release as of the Effective Date.


	/s/ James C. Richardson James C. Richardson, Jr.	SEAL)

Acknowledge, Accept and Agree
as of the Effective Date:

Pierre Foods, Inc.


By:		/s/ Pamela M. Witters Pamela M. Witters, Chief Financial Officer