| Performance-Based     | Denny’s Corporation |
|-----------------------|---------------------------|
| Restricted Stock Unit | 203 East Main Street      |
| Award Certificate     | Spartanburg, SC 29319     |

| Grant Date of Award:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |                          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------------------------|
|  Number of Restricted Stock Units Awarded:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |                          |
|  Vesting Schedule:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |                          |
|    Vesting Date                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | Percent of Units Vested  |   |
|   The date on which the closing price of the Company’s common stock has equaled or exceeded $____ for 20 consecutive trading days                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 25%                           |   |
|  The date on which the closing price of the Company’s common stock has equaled or exceeded $____ for 20 consecutive trading days                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 50%                           |   |
|  The date on which the closing price of the Company’s common stock has equaled or exceeded $____ for 20 consecutive trading days                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 75%                           |   |
|  The date on which the closing price of the Company’s common stock has equaled or exceeded $____ for 20 consecutive trading days                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 100%                          |   |
|  Expiration Date of Award (fifth anniversary of the award grant date):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |                          |   |
| The Units are granted as an inducement award pursuant to Nasdaq Listing Rule 5635(c)(4), and are not issued under any of the Company’s equity incentive plans. Notwithstanding the foregoing, the Units shall be subject to the terms and conditions of the Company’s 2008 Omnibus Incentive Plan (the “Plan”) as if the Units had been granted under the Plan, and the terms and conditions of the Plan are hereby incorporated into this Certificate. By accepting this award, Grantee shall be deemed to have agreed to the terms and conditions of this Certificate and the Plan. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan. |   |

|  _______________________________________For Denny’s Corporation |  _______________________________________Date |
|----------------------------------------------------------------------------|---------------------------------------------------|

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