Item 1.01. Entry into a Material Definitive Agreement.

On November 19, 2008, Luby's, Inc. (the "Company") entered into amendments to the Employment Agreements dated November 9, 2005 and as amended on October 29, 2007 (the "Agreements") between the Company and each of Christopher J. Pappas and Harris J. Pappas (together, the "Executives") to extend the term of each agreement by one year to August 31, 2010. The amendments to the Agreements did not change any other terms of the Agreements.

These amendments were unanimously approved by the Company's Board of Directors and by the Company's Nominating and Corporate Governance Committee, which is comprised solely of independent directors.

The foregoing descriptions of the amendments to the Agreements do not purport to be complete and are qualified in their entirety by reference to the amendments to the Agreements, the Purchase Agreement and the Rights Agreement, copies of which are attached as Exhibits 10.1 and 10.2 to this Form 8-K and are incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed herewith:

Exhibit No. Description

10.1 Amendment No. 2 dated as of November 19, 2008 to Employment Agreement dated as of March 9, 2001 and as amended on October 29, 2007 between Luby's, Inc. and Christopher J. Pappas.

10.2 Amendment No. 2 dated as of November 19, 2008 to Employment Agreement dated as of March 9, 2001 and as amended on October 29, 2007 between Luby's, Inc. and Harris J. Pappas.

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