Friendly Ice Cream Corporation Announces Employment Inducement Awards to New Chief Executive Officer
10 Janeiro 2007 - 7:48PM
Business Wire
Friendly Ice Cream Corporation (AMEX: FRN) today reported the grant
of stock options to purchase 75,000 shares of the Company�s common
stock to George Condos as a material inducement to his employment
as the Company�s new President and Chief Executive Officer. These
non-qualified stock options were granted pursuant to an exemption
from the stockholder approval requirements set forth in Section 711
of the American Stock Exchange Company Guide. The stock options
have an exercise price equal to the Company�s closing price on
January 8, 2007 and vest over a three-year period. About Friendly
Ice Cream Corporation Friendly Ice Cream Corporation is a
vertically integrated restaurant company serving signature
sandwiches, entrees and ice cream desserts in a friendly, family
environment in more than 520 company and franchised restaurants
throughout the Northeast. The company also manufactures ice cream,
which is distributed through more than 4,500 supermarkets and other
retail locations. With a 70-year operating history, Friendly's
enjoys strong brand recognition and is currently revitalizing its
restaurants and introducing new products to grow its customer base.
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