Dear Shareholders of Biglari Holdings Inc.
1 Dear Shareholders of Biglari Holdings Inc.: Biglari Holdings is an entrepreneurial enterprise that possesses formidable strengths. In August 2008, we took control of a company on the brink of bankruptcy and then built Biglari
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BIGLARI HOLDINGS INC.
www.biglariholdings.comunited states securities and exchange commission washington, d.c. 20549 form 10-q quarterly report pursuant to section 13 or 15(d) of the securities exchange
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www.biglariholdings.com2 Holdings’ architecture was guided by the economic objective of maximizing per-share intrinsic value.1 Despite its advantages, we can further assert that our highly unusual system would not necessarily make sense for other entrepreneurs.
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www.biglariholdings.comAMENDED AND RESTATED INCENTIVE BONUS AGREEMENT THIS AMENDED AND RESTATED INCENTIVE BONUS AGREEMENT (the “Agreement”), dated as of this 28th day of September, 2010, by and between BIGLARI HOLDINGS INC., an Indiana corporation (“Company”), and SARDAR BIGLARI(“Executive”). W I T N E S S E T H:
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