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Papa John's founder outlines future role
August 15, 2007
LOUISVILLE, Ky. — Papa John's International Inc. founder John Schnatter has signed an agreement outlining his future responsibilities with the nation's third-largest pizza chain, according to a filing with the Securities and Exchange Commission. In May, Schnatter stepped down from his post as executive chairman.
Under the agreement, Schnatter's duties include:
- Chairing meetings of the company's board of directors.
- Assisting in agenda development and meetings schedules for the board.
- Providing information and insights on the company's direction to the board.
Schnatter will receive compensation in the form of stock-option grants and will be reimbursed for expenses related to his duties with the company.
Schnatter also granted the company the exclusive right to use his identity and likeness for marketing and promotion of the Papa John's brand.
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