Notice of Non-Renewal of Employment Contracts between Shells Seafood Restaurants, Inc. and Executives

Summary

This letter from Frederick R. Adler, Chairman of the Board of Shells Seafood Restaurants, Inc., notifies Warren R. Nelson, Arthur J. DeAngelis, and Norma Karter that the company will not renew or extend their current employment contracts. The decision is related to the company's consideration of hiring a new CEO. The notice serves as formal communication that their employment agreements will not be continued beyond their current terms.

EX-10.39 5 dex1039.txt NOTICE OF NON-RENEWAL OF EMLOYMENT CONTRACTS Exhibit 10.39 FREDERICK R. ADLER 1620 SOUTH OCEAN BLVD. PALM BEACH, FL 33480 February 14, 2001 Via Fax and Registered Mail - --------------------------- Mr. Warren R. Nelson Mr. Arthur J. DeAngelis Ms. Norma Karter c/o Shells Seafood Restaurants, Inc. 16313 N. Dale Mabry Highway, Suite 100 Tampa, Florida 33618 Dear Warren, Art and Norma, As you know, we are currently contemplating bringing in a new CEO to the Company. As a result, the Board has decided, until further notice, not to renew or extend any existing employment contracts between the Company and any of its employees. This letter will serve as notice to you of the Company's intention not to renew or extend your employment agreement with the Company. Very truly yours, /s/ FREDERICK R. ADLER ----------------------------------------- Frederick R. Adler Chairman of the Board Directors