MIDDLEBY CORP
EXHIBIT 10.14
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<TYPE>EX-10.14
<SEQUENCE>3
<FILENAME>d50212ex_10-14.htm
<DESCRIPTION>EXHIBIT 10.14
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     <!-- Control Number: 50212                                                            -->
     <!-- Rev Number:     1.0                                                              -->
     <!-- Client Name:    ADP - The Middleby Corp                                          -->
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     <!-- Firm Name:      CCH                                                              -->
     <TITLE>ADP - The Middleby Corp Form 10-K Exhibit 10.14</TITLE>
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<P ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit
10.14 </FONT></P>


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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>CONFIDENTIAL </FONT></P>

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<P ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>THE MIDDLEBY
CORPORATION <BR>SEVERANCE AGREEMENT </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Middleby Corporation
(&#147;Middleby&#148;) and Selim A. Bassoul (&#147;Employee&#148;) enter into
this severance agreement on this 16th day of May 2001. In recognition of the
Employee&#146;s past and continued service to The Middleby Corporation, Middleby
agrees to provide the Employee with two years of base salary severance and two
years of normal employer provided health insurance in the event of the
Employee&#146;s involuntary termination of employment from Middleby for any
reason other than Cause. Cause shall mean personal dishonesty, gross negligence,
willful misconduct, breach of fiduciary duty involving personal profit,
substance abuse, or commission of a felony. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This two-year base salary
severance and health insurance guarantee to the Employee will also be in effect
in the event of a Change in Control of Middleby and shall be considered a
liability of the successor owner of Middleby. In the event of a Change in
Control of Middleby, Employee shall have the right at any time within the
six-month period immediately following the Change in Control to terminate his
employment by providing written notice to Middleby or its Successor. Upon
providing such notice of termination Employee shall be entitled to receive two
years of base salary severance and two years of normal employer provided health
insurance. For purposes of this agreement a Change in Control shall mean any 25
percentage point increase in the percentage of outstanding voting securities of
The Middleby Corporation hereafter held by any person or group of persons who
agree to act together for the purpose of acquiring, holding, voting, or
disposing of such voting securities as compared to the percentage of outstanding
voting securities of The Middleby Corporation held by such person or group of
persons on the date hereof. </FONT></P>

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<TD WIDTH=94%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Example:
On May 16, 2001 individual A owns 2.42% of the total outstanding voting securities of The
Middleby Corporation. Thereafter, individual A commences a series of open market and
private purchases, and on September 16, 2001 for the first time his holdings exceed
27.42% of the outstanding voting securities of The Middleby Corporation. A Change of
Control occurs on September 16, 2001.</FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This agreement expires
three years from the date first above written. </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreed: /s/ Selim A. Bassoul
<BR>Selim A. Bassoul, President and CEO </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For Middleby: /s/ Willian F. Whitman, Jr.
<BR>Willian F. Whitman, Jr., Chairman </FONT></P>


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