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November 22, 2013

A tale of two Arthurs.

On the benevolent side we have Arthur T who wants to share $56 million with his 22,000 associates.

On the greedy side we have Arthur S who wants the 22,000 associates to pay $46 million to 9 shareholders. Based on court documents in the case against DSM and the profit sharing trustees.

Just an example of what is in store for us should Arthur S win this battle. We all need to throw our support 100% behind Arthur T because in the end, it is the PEOPLE that will determine the outcome.

November 21, 2013

“Goodness is about character – integrity, honesty, kindness, generosity, moral courage, and the like. More than anything else, it is about how we treat other people.”—Dennis Prager

The picture posted below this post is a letter sent to the stores via email today from Bill Marsden. You can read this company document for yourself but this letter is in response to the Board’s request for managements recommendations for bonuses and profit sharing. As you know on the Boards misinformation page they let us all know that they were awaiting for these recommendations so they could vote on them at the meeting scheduled for this coming Monday, November 25, 2013.

ATD’s recommendations are to increase bonuses by about 60% from last year and to give associates 20% of their eligible pay in profit sharing. It is not unusual for ATD to announce the numbers, he does it every year, the only difference this year is the Board has yet to approve these numbers. As the letter clearly states he feels that we deserve these bonuses and profit sharing. He is greatly moved by the support from all of the associates of Market Basket over the past few months but also he knows that you have all remained focused on your jobs and taking care of our customers during this difficult time of uncertainty for all associates. Competition has taken advantage of this chink in our armor by trying to cut prices and lure our customers away while we fight this battle. All of our associates have responded by working harder and focusing on our customers, these things have not gone unnoticed. He is also aware that the August and October bonuses from last year were skipped this year.

This takeover attempt from ASD and his A and A/B directors has cast a dark cloud over our company. Many people have had tremendous anxiety over their future, their careers and their finances. ATD understands this and he has responded in the only way he knows how, he has stood beside us in this fight and he will never walk away from us. He is trying everything within his power to solve this problem for us. We have come together on a united front to save this company and stave off this attempt to destroy our company.

We have made a difference, make no mistake about it, if we hadn’t rallied to ATD’s side in July he would be gone and most of the executives we respect and admire would also be gone. This company would be changed for the worse and you can be sure bonuses and profit sharing would be a thing of the past. ATD understands us and knows how hard this has been on all of us. He is the one that has fought for our bonuses and profit sharing, it is only fitting that we rally behind him and show him how much we appreciate everything he has done and continues to do for us. Every one of us needs to step up and show this Board that we will not give up.

Board, you asked for recommendations, you have them now. The ball is in your court.

November 20, 2013

“A sociopath is one who sees others as impersonal objects to be manipulated to fulfill their own narcissistic needs without any regard for the hurtful consequences of their selfish actions.” —R. Alan Woods

Looking at the timetable of events through public records and court documents including the affidavits posted last night it is crystal clear that ASD has a premeditated agenda to destroy OUR company.

June 18, 2013, Board meeting, Rafaela unexpectedly and without cause changes her allegiance and therefore her votes from ATD to ASD. This caused the shift in the Board in favor of ASD. A meeting was then called for June 24, 2013, and the agenda was released. Among the agenda items was a proposal to remove ATD as CEO of OUR company.

June 19, 2013, ASD visits the homes of Jack Demoulas and Joe Rockwell. Tells them both that ATD will be terminated at the next Board meeting scheduled for June 24th. ASD states that he “has the votes” to get rid of ATD and asks them to serve as interim presidents of the company. This is important because only a day later he is confident that ATD is going to be fired because he already “knows” he has the votes. He is fully aware that by asking these two executives to take over he can assure the Board of a line of succession until the Board hires a CEO.

June 24, 2013, Board meeting postponed because ATD’s two directors couldn’t make the meeting and therefore there was no quorum. The next Board meeting is court ordered for July 18, 2013.

July 11, 2013, the company is made aware of what is going on and in six days the people mobilize and prevent ASD and his Board from firing ATD.

We may have stopped ATD’s firing but that is only temporary and the Board has continued along with the rest of their agenda to destroy OUR company. They have stopped growth, stripped cash out of reserves, taken day to day management of the company away from ATD and are trying to run OUR company with NO EXPERIENCE beyond the fact that the day to day running of the company is NOT the Boards job. They have fired Bill Marsden and Harold Sullivan as Profit Sharing Trustees and bogged down OUR company in committees.

ASD visiting Joe Rockwell and Jack Demoulas and telling them in confidence what his plans were and asking them to join him shows he has no understanding of OUR company or OUR people. He apparently thought that offering them compensation for their change of loyalty would work, maybe because he is driven by monetary gains himself. If he really knew us he would know that our loyalty, allegiance and dedication to both ATD and OUR company runs deep.

We need to come together, all 22,000 of us and STOP this hostile takeover of OUR company. To stand by and do nothing is the same as not voting and complaining about the result. UNITED WE STAND TOGETHER, WE ARE MARKET BASKET!!

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