December 4, 2000
[Name]
[Address]
[City, State, Zip]
Re: Vested Employee Stock Options
Dear [Name]:
Our records indicate that you have vested options covering [#] shares
of The Quizno's Corporation common stock which were previously issued to you,
with a current value of [$] based on the $8.00 per share (less the exercise
price of each of your options) offered by The Quizno's Corporation in the tender
offer commenced November 13, 2000.
The Company's Board of Directors has authorized us to allow you to
directly tender your vested options to us. We have provided the following
disclosure materials pursuant to applicable securities regulations for your
review and in order that you are fully informed concerning the current status of
the Company for purposes of making your decision whether to tender your vested
options:
1. Form S-8 Prospectus;
2. Form 10-KSB for fiscal year ended September 30, 1999;
3. Form 10-QSB for quarter ended June 30, 2000;
4. Forms 8-K dated September 29, 2000, November 15, 2000, and
November 22, 2000;
5. Letter of Transmittal to Tender Shares of Common Stock of The
Quizno's Corporation;
6. Notice of Guaranteed Delivery to Tender of Shares of Common
Stock of The Quizno's Corporation; and
7. Offer to Purchase for Cash all Outstanding Shares of its
Common Stock.
You have until Monday, December 11, 2000, to tender your vested
options. In order to tender your vested options, please provide the following to
the Company prior to the expiration date of Monday, December 11, 2000:
1. Signed Stock Option Certificate(s); and
2. Signed copy of this letter acknowledging receipt of the
disclosure materials and your desire to tender your vested
options.
If you choose to tender your vested options, the Company will have a
check issued and sent to you upon receipt of the above items and at the time the
other shareholders are paid, assuming that the Company closes the tender. If the
Company does not close the tender, it will return your option certificate(s) to
you.
If you have any questions concerning the disclosure materials or the
tender, or if you would like to review a copy of any material incorporated by
reference into the Form S-8 Prospectus, please contact me at (720) 359-3349.
Very truly yours,
THE QUIZNO'S CORPORATION
Carri L. Bryan
Legal Manager
I, [Name], acknowledge receipt of the disclosure materials provided
herein this ____ day of _______________________, 2000.
By:___________________________________
