Summary of LUBYS INC - Yahoo! Finance

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01. Entry into a Material Definitive Agreement.

On August 28, 2012, Luby's, Inc. (the "Company") entered into a seventh amendment to the Employment Agreement dated November 9, 2005 and as amended on October 29, 2007, November 19, 2008, November 19, 2009, April 15, 2010, September 2, 2010 and April 20, 2011 (the "Agreement") between the Company and Christopher J. Pappas to extend the term of the Agreement to December 31, 2013. The amendment to the Agreement did not change any other terms of the Agreement.

This amendment was unanimously approved by the independent directors of the Company's Board of Directors.

The foregoing description of the amendment to the Agreement does not purport to be complete and is qualified in its entirety by reference to the amendment to the amendment to the Agreement, a copy of which is attached as Exhibits 10.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 10.1    Amendment No. 7 dated as of August 28, 2012 to Employment Agreement
                dated as of November 9, 2005 and as amended on October 29,
                2007, November 19, 2008, November 19, 2009, April 15,
                2010, September 2, 2010 and April 20, 2011 between Luby's, Inc. and
                Christopher J. Pappas.