FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT

THIS FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT, dated as of July 19, 2011
(the “Agreement”), is entered into among Ruby Tuesday, Inc., a Georgia
corporation (the “Borrower”), the Lenders party hereto and Bank of America,
N.A., as administrative agent for the Lenders (in such capacity, the
“Administrative Agent”).  All capitalized terms used herein and not otherwise
defined herein shall have the meanings given to such terms in the Credit
Agreement (as defined below).

RECITALS

WHEREAS, the Borrower, the Lenders and the Administrative Agent entered into
that certain Revolving Credit Agreement dated as of December 1, 2010 (as amended
or modified from time to time, the “Credit Agreement”);

WHEREAS, the Borrower has requested that the Lenders amend the Credit Agreement
as set forth below subject to the terms and conditions specified in this
Agreement;

NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

1.           Amendments.  The Credit Agreement is hereby amended as follows:

(a)           The reference to “FIFTY MILLION DOLLARS ($50,000,000)” in Section
2.4 of the Credit Agreement is hereby amended to read “SIXTY MILLION DOLLARS
($60,000,000)”.

(b)           Schedule 1.2 to the Credit Agreement is hereby amended to read as
provided on Schedule 1.2 attached hereto.

2.           Condition Precedent.  This Agreement shall be effective upon
receipt by the Administrative Agent of counterparts of this Agreement, duly
executed by the Borrower, the Administrative Agent and the Required Lenders.

3.           Miscellaneous.

(a)           The Credit Agreement, and the obligations of the Loan Parties
thereunder and under the other Loan Documents, are hereby ratified and confirmed
and shall remain in full force and effect according to their terms.

(b)           The Borrower hereby represents and warrants as follows:

(i)           The Borrower has taken all necessary action to authorize the
execution, delivery and performance of this Agreement.

(ii)           This Agreement has been duly executed and delivered by the
Borrower and constitutes the legal, valid and binding obligations of the
Borrower, enforceable in accordance with its terms, except as such
enforceability may be subject to (A) bankruptcy, insolvency, reorganization,
fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (B) general principles of equity
 
 
 
 
 

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 (regardless of whether such enforceability is considered in a proceeding at law
or in equity).

(iii)           No consent, approval, authorization or order of, or filing,
registration or qualification with, any court or governmental authority or third
party is required in connection with the execution, delivery or performance by
the Borrower of this Agreement.

(c)           The Borrower represents and warrants to the Lenders that (i) the
representations and warranties set forth in Article V of the Credit Agreement
and in each other Loan Document are true and correct in all material respects
(before and after giving effect to this Agreement) as of the date hereof with
the same effect as if made on and as of the date hereof, except to the extent
such representations and warranties expressly relate to an earlier date and (ii)
no unwaived event has occurred and is continuing which constitutes a Default or
an Event of Default.

(d)           This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which
shall constitute one and the same instrument.  Delivery of an executed
counterpart of this Agreement by telecopy shall be effective as an original and
shall constitute a representation that an executed original shall be delivered.

(e)           THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF GEORGIA.

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Each of the parties hereto has caused a counterpart of this Agreement to be duly
executed and delivered as of the date first above written.

 BORROWER:  
RUBY TUESDAY, INC.,
   
a Georgia corporation
               
By: /s/ Marguerite N. Duffy
   
Name: Marguerite N. Duffy
   
Title: Senior Vice President

FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT
RUBY TUESDAY, INC.
 
 

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 ADMINISTRATIVE AGENT:  
BANK OF AMERICA, N.A.,
 
as Administrative Agent
         
By: /s/ Erik M. Truette
 
Name: Erik M. Truette
 
Title: Assistant Vice President

FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT
RUBY TUESDAY, INC.
 
 

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 LENDERS:  
BANK OF AMERICA, N.A.,
 
as a Lender, Servicer, Issuing Bank and
 
Swingline Lender
         
By: /s/ John H. Schmidt
 
Name: John H. Schmidt
 
Title: Director

 
REGIONS BANK,
 
as a Lender
         
By: /s/ Timothy M. Dameron
 
Name: Timothy M. Dameron
 
Title: Vice President

 
WELLS FARGO BANK, NATIONAL ASSOCIATION,
 
as a Lender
         
By: /s/ Darcy McLaren
 
Name: Darcy McLaren
 
Title: Vice President

 
FIFTH THIRD BANK, an Ohio Banking Corporation,
 
as a Lender
         
By: /s/ Lisa R. Cook
 
Name: Lisa R. Cook
 
Title: Assistant Vice President

 
US BANK NATIONAL ASSOCIATION,
 
as a Lender
         
By: /s/ Patrick Engel
 
Name: Patrick Engel
 
Title: Vice President

 
PNC BANK, NATIONAL ASSOCIATION,
 
as a Lender
         
By: /s/ Deroy Scott
 
Name: Deroy Scott
 
Title: Senior Vice President

 
 
 
FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT
RUBY TUESDAY, INC.
 

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BRANCH BANKING AND TRUST COMPANY,
 
as a Lender
         
By: /s/ R. Andrew Beam
 
Name: R. Andrew Beam
 
Title: Senior Vice President

 

FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT
RUBY TUESDAY, INC.
 
 

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Schedule 1.2

REVOLVING COMMITMENTS

 
 
Lender
Revolving Commitment
Pro Rata Share
Bank of America, N.A.
$100,000,000
26.3157894737%
Regions Bank
$75,000,000
19.7368421053%
Wells Fargo Bank, National Association
$55,000,000
14.4736842105%
Fifth Third Bank
$50,000,000
13.1578947368%
U.S. Bank National Association
$45,000,000
11.8421052632%
PNC Bank, National Association
$30,000,000
7.8947368421%
Branch Banking & Trust Company
$25,000,000
6.5789473684%
Total
$380,000,000
100.000000000%

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