PAPA JOHN’S INTERNATIONAL, INC.
AMENDED AND RESTATED
NONQUALIFIED STOCK OPTION AGREEMENT
NIGEL TRAVIS INDUCEMENT GRANT
THIS AMENDED AND RESTATED NONQUALIFIED STOCK OPTION AGREEMENT
(“Option Agreement”) is made and entered into effective as of January 31, 2005, by and between (i) PAPA
JOHN’S INTERNATIONAL, INC. , a Delaware corporation (“Company”), and (ii) NIGEL TRAVIS , the
individual (“Optionee”) named in the “Notice of Grant of Stock Options” attached hereto and incorporated by
reference herein as if fully set out herein (the “Notice”). This Option Agreement amends and restates in its
entirety the Nonqualified Stock Option Agreement between the Company and Optionee dated January 31,
A. The Company has negotiated an Employment Agreement with Optionee dated January 31,
2005, which includes, among other things, the obligation of the Company, as an inducement for Optionee to
execute and perform the Employment Agreement and to promote the interests of the Company, its subsidiaries
and its stockholders, to grant an option to purchase shares of the Company’s common stock, par value $.01 per
share (“Common Stock”) at the time of the commencement of Optionee’s employment by the Company.
B. The Option, as defined below, being granted to Optionee pursuant to this Option Agreement, is
an inducement grant by the Company and not a stock option granted under the Company’s 1999 Team Member
Stock Ownership Plan, as amended (the “1999 Plan”), but the terms and conditions with respect to the Option
granted herein are substantially the same as those applicable to a stock option granted under the 1999 Plan;
accordingly, all references to provisions of the “Plan” herein are deemed to refer to the 1999 Plan merely for
purposes of definition and to incorporate certain terms and conditions of the 1999 Plan herein by reference.
NOW, THEREFORE, in considera