Exhibit 10.2

 

The CORPORATEplan for RetirementSM

EXECUTIVE PLAN

 

Adoption Agreement

 

IMPORTANT NOTE

 

This document has not been approved by the Department of Labor, the Internal
Revenue Service or any other governmental entity. An Adopting Employer must
determine whether the plan is subject to the Federal securities laws and the
securities laws of the various states. An Adopting Employer may not rely on this
document to ensure any particular tax consequences or to ensure that the Plan is
“unfunded and maintained primarily for the purpose of providing deferred
compensation to a select group of management or highly compensated employees”
under the Employee Retirement Income Security Act with respect to the Employer’s
particular situation. Fidelity Management Trust Company, its affiliates and
employees cannot provide you with legal advice in connection with the execution
of this document. This document should be reviewed by the Employer’s attorney
prior to execution.

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ADOPTION AGREEMENT

ARTICLE 1

 

1.01 PLAN INFORMATION

 

  (a) Name of Plan:

 

This is the Ruth’s Chris Steak House Deferred Compensation Plan (the “Plan”).

 

  (b) Name of Plan Administrator, if not the Employer:

 

      

Address:

  

Administrative Committee, Attn. Dione Heusel

    

3321 Hessmer Ave.

    

Metairie, LA 70002

Phone Number:

  

504-454-9025

 

The Plan Administrator is the agent for service of legal process for the Plan.

 

  (c) Plan Year End is December 31.

 

  (d) Plan Status (check one):

 

  (1) þ Effective Date of new Plan: 11/15/2005

 

  (2) ¨ Amendment Effective Date:                     

 

          The original effective date of the Plan: _________________

 

1.02 EMPLOYER

 

  (a) The Employer is: Ruth’s Chris Steak House, Inc.

 

Address:

  

3321 Hessmer Ave.

    

Metairie, LA 70002

Contact’s Name:

  

Dione M. Heusel

Telephone Number:

  

504-454-9025

 

  (1) Employer’s Tax Identification Number: 72-1060618

 

  (2) Business form of Employer (check one):

 

  (A) þ Corporation (Other than a Subchapter S corporation)

 

  (B) ¨ Other (e.g., Subchapter S corporation, partnership, sole proprietor)

 

  (3) Employer’s fiscal year end: last Sunday of the year

 

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  (b) The term “Employer” includes the following Related Employer(s) (as defined
in Section 2.01 (a) (24)):

 

RCSH Management Inc. and all Related Employers

 

1.03 COVERAGE

 

  (a) The following Employees are eligible to participate in the Plan:

 

  (1)    ¨ Only those Employees listed in Attachment A will be eligible to
participate in the Plan.

 

  (2)    þ Only those Employees in the eligible class described below will be
eligible to participate in the Plan:

 

Regional Vice President, Vice President, Senior Vice President, Executive Vice
President, President. Employment title is determined upon the date of hire or,
if by promotion, as of the effective date stated in the Employee’s Personnel
Action Request. Each individual with the above-named employment titles must have
received or, pursuant to a salary increase or bonus, expects to be paid annual
compensation equal to or in excess of the definition of highly-compensated
employee under Code Section 414(q)(l)(B) and each individual must be eligible
for a company bonus. However, if the Administrator should determine that the
foregoing eligibility provision is such that the Plan would not be deemed
maintained “primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees”, i.e. a “top-hat
plan” for purposes of ERISA, the Plan Administrator shall narrow the eligibility
to the extent necessary in the Plan Administrator’s judgment in order to
maintain the Plan’s status as a top-hat plan. If an Employee fails to meet the
eligibility requirements in the immediately preceding year such Employee will
cease to be eligible to participate in the Plan.

 

  (3)    ¨ Only those Employees described in the Board of Directors Resolutions
attached hereto and hereby made a part hereof will be eligible to participate in
the Plan.

 

  (b) The Entry Date(s) shall be (check one):

 

  (1) ¨ each January 1.

 

  (2) ¨ each January 1 and each July 1.

 

  (3) þ each January 1 and each April 1, July 1 and October 1.

 

  (4) ¨ the first day of each month.

 

  (5) ¨ immediate upon meeting the eligibility requirements specified in
Subsection 1.03(a).

 

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1.04 COMPENSATION

 

For purposes of determining Contributions under the Plan, Compensation shall be
as defined (check (a) or (b) below, as appropriate):

 

  (a)    þ in Section 2.01(a)(8), (check (1) or (2) below, if and as
appropriate)):

 

  (1)    ¨ but excluding (check the appropriate box(es)):

 

  (A)    ¨ Overtime Pay.

 

  (B)    ¨ Bonuses.

 

  (C)    ¨ Commissions.

 

  (D)    ¨ The value of a qualified or a non-qualified stock option granted to
an Employee by the Employer to the extent such value is includable in the
Employee’s taxable income.

 

  (E)    ¨ The following: _____________________________________________________

 

  (2)    ¨ except as otherwise provided below:
_________________________________________

 

  (b)    ¨ in the                                      Plan maintained by the
Employer to the extent it is in excess of the limit imposed under Code
Section 401(a)(17).

 

1.05 CONTRIBUTIONS

 

  (a)     Employee contributions (Complete all that apply)

 

  (1)    þ Deferral Contributions. The Employer shall make a Deferral
Contribution in accordance with, and subject to, Section 4.01 on behalf of each
Participant who has an executed salary reduction agreement in effect with the
Employer for the calendar year (or portion of the calendar year) in question,
not to exceed 100 % of Compensation, exclusive of any Bonus.

 

  (2)    þ Bonus Contributions. The Employer requires Participants to enter into
a special salary reduction agreement to make Deferral Contributions of any
percentage of Employer paid cash Bonuses, up to 100% of such Bonuses. (The
Compensation definition elected by the Employer in Section 1.04 must include
Bonuses if Bonus contributions are permitted.)

 

  (b)    ¨ Matching Contributions (Choose (1) or (2) below, and (3) below, as
applicable.)

 

  (1)    ¨ The Employer shall make a Matching Contribution on behalf of each
Participant in an amount equal to the following percentage of a Participant’s
Deferral Contributions during the Plan Year (check one):

 

  (A)    ¨ 50%

 

  (B)    ¨ 100%

 

  (C)    ¨         %

 

  (D)    ¨ (Tiered Match)             % of the first             % of the
Participant’s Compensation contributed to the Plan.

 

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  (E)    ¨ The percentage declared for the year, if any, by a Board of
Directors’ resolution.

 

  (F)    ¨ Other:        ___________

 

  (2)    ¨ Matching Contribution Offset. For each Participant who has made 401
(k) Deferrals at least equal to the maximum under Code Section 402(g) or, if
less, the maximum permitted under the Qualified Plan, the Employer shall make a
Matching Contribution for the calendar year equal to (A) minus (B) below:

 

  (A) The 401(m) Match that the Participant would have received under the
Qualified Plan for such calendar year on the sum of the Participant’s Deferral
Contributions and the Participant’s 401(k) Deferrals if no limits otherwise
imposed by tax law applied to 401 (m) Match and deeming the Participant’s
Deferral Contributions to be 401 (k) Deferrals.

 

  (B) The 401(m) Match actually allocated to such Participant under the
Qualified Plan for the calendar year.

 

For purposes of this Section 1.05(b): “Qualified Plan” means the Plan; “401(k)
Deferrals” means contributions under the Qualified Plan’s cash or deferred
arrangement as defined in Code Section 401 (k); and “401 (m) Match” means a
matching contribution as defined in Code Section 401 (m).

 

  (3)    ¨ Matching Contribution Limits (check the appropriate box(es)):

 

  (A)    ¨ Deferral Contributions in excess of ______% of the Participant’s
Compensation for the period in question shall not be considered for Matching
Contributions.

 

  Note: If the Employer elects a percentage limit in (A) above and requests the
Trustee to account separately for matched and unmatched Deferral Contributions,
the Matching Contributions allocated to each Participant must be computed, and
the percentage limit applied, based upon each period.

 

  (B)    ¨ Matching Contributions for each Participant for each Plan Year shall
be limited to $.        

 

  (4)     Eligibility Requirement(s) for Matching Contributions. A Participant
who makes Deferral Contributions during the Plan Year under Section 1.05
(a) shall be entitled to Matching Contributions for that Plan Year if the
Participant satisfies the following requirement(s) (Check the appropriate
box(es). Options (B) and (C) may not be elected together):

 

  (A)     ¨ Is employed by the Employer on the last day of the Plan Year.

 

  (B)     ¨ Earns at least 500 Hours of Service during the Plan Year.

 

  (C)     ¨ Earns at least 1,000 Hours of Service during the Plan Year.

 

  (D)     ¨ Other:  __________

 

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  (E)    ¨ No requirements.

 

Note: If option (A), (B) or (C) above is selected, then Matching Contributions
can only be made by the Employer after the Plan Year ends. Any Matching
Contribution made before Plan Year end shall not be subject to the eligibility
requirements of this Section 1.05(b)(3)).

 

  (c) Employer Contributions

 

  (1)    ¨ Fixed Employer Contributions. The Employer shall make an Employer
Contribution on behalf of each Participant in an amount determined as described
below (check at least one):

 

  (A)    ¨ In an amount equal to ______% of each Participant’s Compensation each
Plan Year.d

 

  (B)    ¨ In an amount determined and allocated as described below:
________________________

 

  (C)    ¨ In an amount equal to (check at least one):

 

  (i.)    ¨ Any profit sharing contribution that the Employer would have made on
behalf of the Participant under the following qualified defined contribution
plan but for the limitations imposed by Code Section 401(a)(17):
____________________________

 

  (ii.)    ¨ Any contribution described in Code Section 401 (m) that the
Employer would have made on behalf of the Participant under the following
qualified defined contribution plan but for the limitations imposed by Code
Section 401(a)(17): ____________________________

 

  (2)    ¨ Discretionary Employer Contributions. The Employer may make Employer
Contributions to the accounts of Participants in any amount, as determined by
the Employer in its sole discretion from time to time, which amount may be zero.

 

  (3) Eligibility Requirement(s) for Employer Contributions. A Participant shall
only be entitled to Employer Contributions under Section 1.05(c)(l) for a Plan
Year if the Participant satisfies the following requirement(s) (Check the
appropriate box(es). Options (B) and (C) may not be elected together):

 

  (A)    ¨ Is employed by the Employer on the last day of the Plan Year.

 

  (B)    ¨ Earns at least 500 Hours of Service during the Plan Year.

 

  (C)    ¨ Earns at least 1,000 Hours of Service during the Plan Year.

 

  (D)    ¨ Other:  ____________________

 

  (E)    ¨ No requirements.

 

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1.06 DISTRIBUTION DATES

 

Distribution from a Participant’s Account pursuant to Section 8.02 shall begin
upon the following date(s) (check either (a) or (b); check (c), if desired):

 

  (a)    ¨ Non-Class Year Accounting (complete (1) and (2)).

 

  (1) The earliest of termination of employment with the Employer (see Plan
Section 7.03) and the following event(s) (check appropriate box(es); if none
selected, all distributions will be upon termination of employment):

 

  (A)    ¨ Attainment of Normal Retirement Age (as defined in Section 1.07(f)).

 

  (B)    ¨ Attainment of Early Retirement Age (as defined in Section 1.07(g)).

 

  (C)    ¨ The date on which the Participant becomes disabled (as defined in
Section 1.07(h)).

 

  (2) Timing of distribution (check either (A) or (B)).

 

  (A)    ¨ The distribution of the Participant’s Account will be begin in the
month following the event described in (a)(1) above, however, if the event is
termination of employment, then such distribution will begin as soon as
practicable on or after the 1st day of the seventh calendar month following such
separation if the Participant was a Key Employee.

 

  (B)    ¨ The distribution of the Participant’s Account will begin as soon as
administratively feasible in the calendar year following distribution event
described in (a)(l) above, provided however, that if the event is termination of
employment, in no event will such distribution begin earlier than the 1st day of
the seventh calendar month following such separation if the Participant was a
Key Employee.

 

  (b)    þ Class Year Accounting (complete (1) and (2)).

 

  (1) Upon (check at least one; (A) must be selected if plan has contributions
pursuant to section 1.05(b) or (c)):

 

  (A)    þ Termination of employment with the Employer (see Plan Section 7.03);
provided however, that if the event is termination of employment, in no event
will such distribution begin earlier than the 1st day of the seventh calendar
month following such separation if the Participant was a Key Employee.

 

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  (B)    þ The date elected by the Participant, pursuant to Plan Section 8.02,
and subject to the restrictions imposed in Plan Section 8.02 with respect to
future Deferral Contributions, in which event such date of distribution must be
at least one year after the date such Deferral Contribution would have been paid
to the Participant in cash in the absence of the election to make the Deferral
Contribution.

 

  (3) Timing of distribution subject to Subsection (b)(l)(A) above (check either
(A) or (B)).     See Amendment

 

  (A)    þ The Distribution of the Participant’s Account will begin _____
(specify month and day) following the event described in (b)(l) above.

 

  (B)    ¨ The Distribution of the Participant’s Account will begin ______
(specify month and day) of the calendar year following the event described in
(b)(l) above.

 

  (c)    þ Upon a Change of Control in accordance with Plan Section 7.08. See
Amendment

 

Note: Internal Revenue Code Section 280G could impose certain, adverse tax
consequences on both Participants and the Employer as a result of the
application of this Section 1.06(c). The Employer should consult with its
attorney prior to electing to apply Section 1.06(c).

 

1.07 VESTING SCHEDULE

 

  (a) The Participant’s vested percentage in Matching Contributions elected in
Section 1.05(b) shall be based upon the schedule(s) selected below.

 

  (1)    þ N/A - No Matching Contributions

 

  (2)    ¨ 100% Vesting immediately

 

  (3)    ¨ 3 year cliff (see C below)

 

  (4)    ¨ 5 year cliff (see D below)

 

  (5)    ¨ 6 year graduated (see E below)

 

  (6)    ¨ 7 year graduated (see F below)

 

  (7)    ¨ G below

 

  (8)    ¨ Other (Attachment “B”)

 

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Years of

Service for

Vesting

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   Vesting Schedule

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     C

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    D

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    E

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    F

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    G

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  0    0 %   0 %   0 %   0 %       1    0 %   0 %   0 %   0 %       2    0 %   0
%   20 %   0 %       3    100 %   0 %   40 %   20 %       4    100 %   0 %   60
%   40 %       5    100 %   100 %   80 %   60 %       6    100 %   100 %   100 %
  80 %       7    100 %   100 %   100 %   100 %   100 %

 

  (b) The Participant’s vested percentage in Employer Contributions elected in
Section 1.05(c) shall be based upon the schedule(s) selected below.

 

  (1)    þ N/A - No Employer Contributions

 

  (2)    ¨ 100% Vesting immediately

 

  (3)    ¨ 3 year cliff (see C below)

 

  (4)    ¨ 5 year cliff (see D below)

 

  (5)    ¨ 6 year graduated (see E below)

 

  (6)    ¨ 7 year graduated (see F below)

 

  (7)    ¨ G below

 

  (8)    ¨ Other (Attachment “B”)

 

Years of

Service for

Vesting

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   Vesting Schedule

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     C

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    D

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    E

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    F

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    G

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  0    0 %   0 %   0 %   0 %       1    0 %   0 %   0 %   0 %       2    0 %   0
%   20 %   0 %       3    100 %   0 %   40 %   20 %       4    100 %   0 %   60
%   40 %       5    100 %   100 %   80 %   60 %       6    100 %   100 %   100 %
  80 %       7    100 %   100 %   100 %   100 %   100 %

 

  (c)    ¨ Years of Service for Vesting shall exclude (check one):

 

  (1)    ¨ for new plans, service prior to the Effective Date as defined in
Section 1.01(d)(1).

 

  (2)    ¨ for existing plans converting from another plan document, service
prior to the original Effective Date as defined in Section 1.01(d)(2).

 

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  (d)    ¨ A Participant will forfeit his Matching Contributions and Employer
Contributions upon the occurrence of the following event (s): __________________

 

  (e) A Participant will be 100% vested in his Matching Contributions and
Employer Contributions upon (check the appropriate box(es), if any; if 1.06(c)
is selected, Participants will automatically vest upon Change of Control as
defined in Section 1.12):

 

  (1)    ¨ Normal Retirement Age (as defined in Section 1.07(f)).

 

  (2)    ¨ Early Retirement Age (as defined in Section 1.07(g)).

 

  (3)    ¨ Death.

 

  (4)    ¨ The date on which the Participant becomes disabled, as determined
under Section 1.07(h) of the Plan.

 

  (f) Normal Retirement Age under the Plan is (check one):

 

  (1)    þ age 65.

 

  (2)    ¨ age ____ (specify from 55 through 64).

 

  (3)    ¨ the later of age ____ (cannot exceed 65) or the fifth anniversary of
the Participant’s Commencement Date.

 

If no box is checked in this Section 1.07(f), then Normal Retirement Age is 65.

 

  (g)    ¨ Early Retirement Age is the first day of the month after the
Participant attains age _ (specify 55 or greater) and completes ____ Years of
Service for Vesting.

 

  (h)    ¨ A Participant is considered disabled when that Participant (check
one):

 

  (1)    ¨ is unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment which can be expected
to result in death or can be expected to last for a continuous period of not
less than 12 months.

 

  (2)    ¨ is, by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement
benefits for a period of not less than 3 months under an accident and health
plan covering employees of the Employer.

 

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1.08 PREDECESSOR EMPLOYER SERVICE

 

  ¨ Service for purposes of vesting in Section 1.07(a) and (b) shall include
service with the following employer(s):

 

1.09 UNFORESEEABLE EMERGENCY WITHDRAWALS

 

Participant withdrawals for unforeseeable emergency prior to termination of
employment (check one):

 

  (a)    þ will be allowed in accordance with Section 7.07, subject to a $
25,000 minimum amount. (Must be at least $1,000)

 

  (b)    ¨ will not be allowed.

 

1.10 DISTRIBUTIONS

 

Subject to Articles 7 and 8 distributions under the Plan are always available as
a lump sum. Check below to allow distributions in installment payments:

 

  þ under a systematic withdrawal plan (installments) not to exceed 10 years
which (check one if box for this Section is selected):

 

  (a)    ¨ will not be accelerated, regardless of the Participant’s Account
balance.

 

  (b)    þ will be accelerated to a lump sum distribution in accordance with
Section 8.03.

 

1.11 INVESTMENT DECISIONS

 

  (a) Investment Directions

Investments in which the Accounts of Participants shall be treated as invested
and reinvested shall be directed (check one):

 

  (1)    ¨ by the Employer among the options listed in (b) below.

 

  (2)    þ by each Participant among the options listed in (b) below.

 

  (3)    ¨ in accordance with investment directions provided by each Participant
for all contribution sources in a Participant’s Account except the following
sources shall be invested as directed by the Employer (check (A) and/or (B)):

 

  (A)    ¨ Nonelective Employer Contributions

 

  (B)    ¨ Matching Employer Contributions

 

The Employer must direct the applicable sources among the same investment
options made available for Participant directed sources listed in the Service
Agreement.

 

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  (b) Plan Investment Options

 

Participant Accounts will be treated as invested among the Investment Funds
listed in the Service Agreement from time to time pursuant to Participant and/or
Employer directions, as applicable.

 

  Note: The method and frequency for change of investments will be determined
under the rules applicable to the selected funds. Information will be provided
regarding expenses, if any, for changes in investment options.

 

1.12 RELIANCE ON PLAN

 

An adopting Employer may not rely solely on this Plan to ensure that the Plan is
“unfunded and maintained primarily for the purpose of providing deferred
compensation for a select group of management or highly compensated employees”
with respect to the Employer’s particular situation. This Agreement must be
reviewed by the Employer’s attorney before it is executed.

 

This Adoption Agreement may be used only in conjunction with the CORPORATEplan
for Retirement Executive Plan Basic Plan Document.

 

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EXECUTION PAGE

(Fidelity’s Copy)

 

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this __________ day of ___________________, 20_______.

 

Employer    

By

   

Title

   

 

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this _________ day of ___________________, 20________.

 

Employer    

By

   

Title

   

 

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EXECUTION PAGE

(Employer’s Copy)

 

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this _________ day of ____________, 20_____ .

 

Employer    

By

   

Title

   

 

IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this _________ day of ____________ , 20____ .

 

Employer    

By

   

Title

   

 

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Attachment A

 

Pursuant to Section 1.03(a), the following are the Employees who are eligible to
participate in the Plan:

 

Employer     By     Title     Date    

 

Note: The Employer must revise Attachment A to add Employees as they become
eligible or delete Employees who are no longer eligible. Attachment A should be
signed and dated every time a change is made.

 

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Attachment B

 

(a)    ¨ The Participant’s vested percentage in Matching Contributions elected
in Section 1.05(b) shall be based upon the following schedule:

 

_____________________________________________________________________________________

 

(b)    ¨ The Participant’s vested percentage in Employer Contributions elected
in Section 1.05(c) shall be based upon the following schedule:

 

_____________________________________________________________________________________

 

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