EX-10.9





 Exhibit 10.9 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of August 1, 2014, by and between Sherri Abruscato
(“Executive”) and PHD Group Holdings LLC (the “Company”). 
 WHEREAS, pursuant to that certain
Agreement and Plan of Merger (as the same may be amended, modified or supplemented from time to time, the “Merger Agreement”), dated as of June 28, 2014, by and among Portillo’s Holdings, LLC, a Delaware limited liability
company (the “Portillo’s”), PHD Intermediate LLC, a Delaware limited liability company (the “Purchaser”), PHD Merger Sub LLC, a Delaware limited liability company and wholly-owned subsidiary of the Purchaser
(the “Merger Sub”), and RP & SP Holdings, Inc., a Delaware corporation (the “Representative”), as representative for the Members (as defined in the Merger Agreement), Merger Sub shall merge with and into
Portillo’s, whereupon the separate existence of Merger Sub shall cease, and Portillo’s shall be the surviving company; 

WHEREAS, the Company desires to continue to employ Executive, and Executive desires to continue to be employed by the Company, on the
terms set forth in this Agreement; and 
 WHEREAS, the Company and Executive intend for this Agreement to become effective upon the
Closing (as defined in the Merger Agreement) (the “Effective Date”). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Employment
Term. The Company hereby agrees to continue to employ Executive, and Executive hereby agrees to accept continued employment with the Company, upon the terms and conditions contained in this Agreement. Executive’s employment with the Company
pursuant to this Agreement shall commence on the Effective Date and shall continue until the third anniversary of the Effective Date (the “Initial Term”); provided, that the term of this Agreement shall automatically be
extended for one (1) additional year commencing on the third anniversary of the Effective Date and on each anniversary thereafter (each, a “Renewal Term”) unless, not less than thirty (30) days prior to the commencement of
any such Renewal Term, either party shall have given written notice to the other that it does not wish to extend this Agreement (a “Non-Renewal Notice”), in which case, Executive’s
employment under this Agreement shall terminate upon the close of business on the last day of the Initial Term or the then-current Renewal Term, as applicable. The period during which Executive is employed by the Company pursuant to this Agreement
is hereinafter referred to as the “Term.” 
 2. Employment Duties. Executive shall have the title of Chief Operating
Officer of the Company and shall have such duties, authorities and responsibilities as are consistent with such position and as the Board of Managers of the Company (the “Board”) or the Chief Executive Officer
(“CEO”) may designate from time to time. Executive shall report directly to the Board or the CEO. Executive shall devote Executive’s full working time and attention and Executive’s best efforts to Executive’s
employment and service with the Company and shall perform Executive’s services in a capacity and in a manner consistent with Executive’s position for the Company; provided, that this Section 2 shall not be interpreted as
prohibiting Executive 












 from (i) managing Executive’s personal investments (so long as such investment activities are of a
passive nature), or (ii) engaging in charitable or civic activities, in each case of (i) and (ii), so long as such activities do not, individually or in the aggregate, (a) materially interfere with the performance of Executive’s
duties and responsibilities hereunder, (b) create a fiduciary conflict, or (c) result in a violation of Section 14 of this Agreement. If requested, Executive shall also serve as an executive officer and/or board member of the
board of directors (or similar governing body) of any entity that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company (an “Affiliate”) without any
additional compensation. 
 3. Base Salary. During the Term, the Company shall pay Executive a base salary at an annual rate of
$325,000, payable in accordance with the Company’s normal payroll practices for employees as in effect from time to time. Executive’s base salary shall be reviewed annually by the Board and may be increased by the Board in its sole
discretion. Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “Base Salary.” 

4. Annual Bonus. With respect to each fiscal year during the Term, Executive shall be eligible to earn an annual cash bonus award (the
“Annual Bonus”), with a target Annual Bonus of fifty percent (50%) of the actual amount of Base Salary paid during such fiscal year, based upon the achievement of annual performance targets relating to the fiscal year of the Company
established by the Board, in consultation with the CEO, within ninety (90) days of the beginning of each such fiscal year. The Annual Bonus, if any, for each fiscal year during the Term shall be paid to Executive as soon as reasonably
practicable after the certification of the financial statements for the performance period to which such Annual Bonus relates, but no later than March 15th of the calendar year after the fiscal year to which the bonus relates, at the same time that
other senior executives of the Company receive annual bonus payments; provided, that the Annual Bonus shall be prorated for any partial fiscal years during the Term. Executive shall not be paid any Annual Bonus with respect to a fiscal year unless
Executive is employed with the Company on the day such Annual Bonus is paid. For the avoidance of doubt, the Executive shall be eligible to receive a short-year bonus for the period from August 1, 2014 through December 31, 2014, to account
for the Company’s change from a fiscal year ending July 31st to a fiscal year ending December 31st. Performance targets for such short-year bonus will be set as soon as reasonably practicable. 

5. Incentive Equity Awards. Subject to the Company’s adoption of an incentive equity plan following the Closing, the Executive
shall be eligible to participate in such plan as determined by the Board, in its sole discretion, subject to the terms and conditions of the plan and any applicable award agreement. 

6. Benefits. During the Term, Executive shall be entitled to participate in any benefit plans or programs offered by the Company as in
effect from time to time, excluding any severance or bonus plans unless specifically referenced in this Agreement (collectively, “Benefit Plans”), on the same basis as those generally made available to other senior executives of the
Company, to the extent consistent with applicable law and the terms of the applicable Benefit Plan. The Company does not promise the adoption or continuance of any particular Benefit Plan and reserves the right to amend or cancel any Benefit Plan at
any time in its sole discretion (subject to the terms of such Benefit Plan and applicable law). To the extent the Company is not able to provide the Executive fully funded health and dental insurance, the Company shall pay an


  
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 amount to each Executive equal to the cost of such health and dental insurance that must be paid by the
Executive. For the avoidance of doubt, any amounts paid to Executive for such benefits shall not count toward, be substituted in lieu of, or be considered in determining payments or benefits due to the Executive under any other plan, program or
agreement of the Company, including the Annual Bonus calculation. 
 7. Vacation. Executive shall be entitled to paid vacation days in
accordance with Company policy, as in effect on the Effective Date, which shall accrue and be useable by Executive in accordance with such policy. 

8. Expense Reimbursement. The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business, entertainment and travel expenses incurred by the Executive in connection with the performance of the Executive’s duties hereunder in accordance
with the Company’s expense reimbursement policies and procedures. 
 9. Termination of Employment. The Term and Executive’s
employment hereunder may be terminated as follows: 
 (a) Automatically in the event of the death of Executive; 

(b) At the option of the Company, by written notice to Executive or Executive’s personal representative in the event of the Disability of
Executive. As used herein, the term “Disability” shall mean a physical or mental incapacity or disability which, despite any reasonable accommodation required by applicable law, has rendered, or is likely to render, Executive unable
to perform Executive’s material duties for a period of either (i) 180 days in any twelve-month period or (ii) 90 consecutive days, as determined by a medical physician selected by the Board; 

(c) At the option of the Company for Cause, on prior written notice to Executive; 

(d) At the option of the Company at any time without Cause (provided that the assignment of this Agreement to, and assumption of this Agreement
by, the purchaser of all or substantially all of the assets of the Company shall not be treated as a termination without Cause under this Section 9(d)), by delivering written notice of its determination to terminate to Executive; 

(e) At the option of Executive for Good Reason; 

(f) At the option of Executive without Good Reason, upon sixty (60) days prior written notice to the Company (which the Company may, in
its sole discretion, make effective as a resignation earlier than the termination date provided in such notice), or 
 (g) Upon the close of
business on the last day of the Initial Term or the then-current Renewal Term, as applicable, as a result of a Non-Renewal Notice. 

  
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 10. Payments by Virtue of Termination of Employment. 

(a) Termination by the Company Without Cause, by the Company’s Non-Renewal Notice or by
Executive For Good Reason. If Executive’s employment is terminated at any time during the Term by the Company without Cause, by the Company’s Non-Renewal Notice or by Executive for Good Reason,
subject to Section 10(d) of this Agreement, Executive shall be entitled to: 
 (i) (A) within thirty (30) days following
such termination, (i) payment of Executive’s accrued and unpaid Base Salary and (ii) reimbursement of expenses under Section 8 of this Agreement, in each case of (i) and (ii), accrued through the date of termination
and (B) all other accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans, programs or policies (other than severance); and 

(ii) an amount equal to Executive’s Base Salary as in effect immediately prior to Executive’s date of termination, which amount
shall be payable during the twelve (12) months commencing on the date of termination (the “Severance Period”) in substantially equal installments in accordance with the Company’s regular payroll practices as in effect from
time to time; provided, that the first payment pursuant to this Section 10(a)(ii) shall be made on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination and shall include payment
of any amounts that would otherwise be due prior thereto. 
 (b) Termination Due to Death or Disability. If Executive’s
employment terminates due to Executive’s death or Disability, Executive or Executive’s legal representatives shall be entitled to receive: (A) within thirty (30) days following such termination, (i) payment of
Executive’s accrued and unpaid Base Salary, (ii) payment of Executive’s earned but unpaid Annual Bonus with respect to the calendar year prior to the year of termination, if any, and (iii) reimbursement of expenses under
Section 8 of this Agreement, in each case of (i), (ii) and (iii), accrued through the date of termination and (B) all other accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans,
programs or policies (other than severance). 
 (c) Termination by the Company for Cause, by Executive without Good Reason or by the
Executive’s Non-Renewal Notice. if (i) the Company terminates Executive’s employment for Cause during the Term, (ii) Executive terminates her employment without Good Reason during the
Term or (iii) Executive’s employment terminates at the expiration of the Term pursuant to a Non-Renewal Notice by Executive, Executive shall be entitled to receive the payments and benefits described
under Section 10(a)(i) of this Agreement. 
 (d) Conditions to Payment. All payments and benefits due to Executive under this
Section 10 which are not otherwise required by applicable law shall be payable only if Executive executes and delivers to the Company a general release of claims in a form reasonably satisfactory to the Company and such release is no
longer subject to revocation (to the extent applicable), in each case, within sixty (60) days following termination of employment. Failure to timely execute and return such release or the revocation of such release shall be a waiver by
Executive of Executive’s right to severance (which, for the avoidance of doubt, shall not include any amounts described in Section 10(a)(i) of this Agreement). In addition, severance shall be conditioned on Executive’s continued
compliance with Section 14 of this Agreement as provided in Section 16 below and compliance with any restrictive covenants in any other agreements to which the Executive is a party with the Company or any Affiliates. 

  
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 (e) No Other Severance. Executive hereby acknowledges and agrees that, other than the
severance payments described in this Section 10, upon the effective date of the termination of Executive’s employment, Executive shall not be entitled to any other severance payments or benefits of any kind under any Company benefit
plan, severance policy generally available to the Company’s employees or otherwise and all other rights of Executive to compensation under this Agreement shall end as of such date. 

11. Definitions. For purposes of this Agreement, 

(a) “Cause” shall mean that the Board has determined in its reasonable good faith judgment that any one or more of the
following has occurred: 
 (i) Executive shall have been convicted of, or shall have pleaded guilty or nolo contendere to, any felony or any
crime involving dishonesty or moral turpitude; 
 (ii) Executive shall have committed any fraud, theft, embezzlement, misappropriation of
funds, breach of fiduciary duty or act of dishonesty; 
 (iii) Executive shall have breached, in any material respect, any of the provisions
of this Agreement or any other material agreement with the Company or an Affiliate and, if any such breach is capable of cure or remedy, has not cured or remedied such breach within ten (10) days of receipt of notice from the Company advising
such Executive of such breach; 
 (iv) Executive shall have engaged in conduct that (A) is likely to make the Company, its subsidiaries
and/or any of their respective Affiliates subject to criminal liabilities, (B) involves a material breach of fiduciary obligation on the part of Executive or (C) could reasonably be expected to have a material adverse effect upon the
business, interests or reputation of the Company, its subsidiaries and/or any of their respective Affiliates and, in each case, if any such conduct is capable of cure or remedy, has not cured or remedied such conduct within ten (10) days of
receipt of notice from the Company advising such Executive of such conduct; 
 (v) Executive shall have (A) acted in a grossly
negligent manner or otherwise failed to perform his or her duties to the Company and its subsidiaries, (B) failed or refused to comply with a reasonable written directive of the Board or, where a Executive does not report directly to the Board,
the Chief Executive Officer of the Company or such other senior executive of the Company that the Board or Chief Executive Officer may designate from time to time, or (iii) failed or refused to comply with the policies of the Company and its
subsidiaries and, in each case, if any such action or failure or refusal to act is capable of cure or remedy, has not cured or remedied such action or failure or refusal to act within ten (10) days of receipt of notice from the Company advising such
Executive of such breach; or 

  
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 (vi) Executive shall have deliberately refused to devote such time and attention to
fulfilling her responsibilities to the Company, its subsidiaries and/or any of their respective Affiliates as would be reasonably expected from an executive having similar responsibilities in a comparable company (other than due to Disability or
temporary disability which, in the reasonable judgment of the Board, causes Executive to be incapable of devoting such time and energy), and such refusal has continued for thirty (30) days after delivery of written notification by the Board
(which notice includes detailed information regarding such alleged refusal and the reasonable steps to be taken to correct such failure) that, in the good faith judgment of the Board, Executive has failed to cure. 

(b) “Good Reason” shall mean that any one or more of the following has occurred as a result of an action by the Company and
without Executive’s consent: 
 (i) a material reduction in Executive’s Base Salary other than as part of an across-the-board reduction applicable to all members of management that results in a proportional reduction to Executive equal to that of other members of management; 

(ii) a material diminution of Executive’s position or duties; provided, however, that a diminution of position or duties as a result of a
sale of part of the business of the Company or its subsidiaries, the acquisition of another business by the Company or its subsidiaries, or organic growth of the business of the Company or its subsidiaries shall not constitute “Good
Reason”; or 
 (iii) relocation of Executive’s principal place of business by more than
one-hundred (100) miles. 
 Notwithstanding the foregoing, none of the circumstances described
above may serve as the basis for “Good Reason” unless (x) Executive notifies the Board in writing of any event constituting “Good Reason” within thirty (30) days following the initial existence of such circumstance and
(y) the Company or its applicable subsidiary has failed to cure such circumstance within sixty (60) days following such written notice. Failing such cure, a termination of employment by Executive for Good Reason shall be effective on the
day following the expiration of such cure period. 
 12. Return of Company Property. Within ten (10) days following the effective
date of Executive’s termination for any reason, Executive or Executive’s personal representative shall, return all property of the Company or any of its Affiliates in Executive’s possession, including, but not limited to, all
Company-owned computer equipment (hardware and software), telephones, facsimile machines, tablet computer and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies (including
drafts) of any documentation or information (however stored) relating to the business of the Company or any of its Affiliates, the Company’s or any of its Affiliates’ customers and clients or their respective prospective customers or
clients. Anything to the contrary notwithstanding, Executive shall be entitled to retain (i) personal papers and other materials of a personal nature; (ii) information showing Executive’s compensation or relating to reimbursement of
expenses, and (iii) copies of plans, programs and agreements relating to Executive’s employment, or termination thereof, with the Company which he received in Executive’s capacity as a participant; provided, that, in each case
of (i) – iii), such papers or materials do not include Confidential and Proprietary Information (as defined in Section 14(a)). 

  
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 13. Resignation as Officer or Director. Upon the effective date of any
Executive’s termination, Executive shall be deemed to have resigned, to the extent applicable, as an officer of the Company, as a member of the board of directors or similar governing body of the Company or any of its Affiliates, and as a
fiduciary of any Company benefit plan. On or immediately following the effective date of any such termination of Executive’s employment, Executive shall confirm the foregoing by submitting to the Company in writing a confirmation of
Executive’s resignation(s). 
 14. Restrictions on Activities of Executive. 

(a) Confidential and Proprietary Information. Executive shall not, during the Term or at any time thereafter directly or indirectly,
disclose, reveal, divulge or communicate to any person other than authorized officers, directors and employees of the Company or use or otherwise exploit for Executive’s own benefit or for the benefit of anyone other than the Company, any
Confidential and Proprietary Information (as defined below). Executive shall not have any obligation to keep confidential any Confidential and Proprietary Information if and to the extent disclosure thereof is specifically required by applicable
law, court order or other legal or regulatory process; provided, however, that in the event disclosure is required by applicable law, Executive shall provide the Company with prompt notice, to the extent reasonably possible, of such requirement
prior to making any disclosure so that the Company may seek an appropriate protective order. Upon termination of Executive’s employment, Executive agrees that all Confidential and Proprietary Information, directly or indirectly, in her
possession in any form (together with all duplicates thereof) will promptly (and in any event within 10 days following such termination) be returned to the Company and will not be retained by Executive or furnished to any person, either by sample,
facsimile film, audio or video cassette, electronic data, verbal communication or any other means of communication. “Confidential and Proprietary Information” means any information with respect to the Company or any of its Affiliates,
including methods of operation, customer lists, products, prices, fees, costs, technology, formulas, inventions, trade secrets, know-how, software, marketing methods, plans, personnel, suppliers, competitors,
markets or other specialized information or proprietary matters; provided, that, there shall be no obligation hereunder with respect to, information that (i) is generally available to the public on the Effective Date, (ii) becomes
generally available to the public other than as a result of a disclosure not otherwise permissible hereunder, or (iii) is required to be disclosed by law, court order or other legal or regulatory process and Executive gives the Company prompt
written notice and the opportunity to seek a protective order. 
 (b) Assignment of Inventions. 

(i) Executive agrees that during the Term, any and all inventions, discoveries, innovations, writings, domain names, improvements, trade
secrets, designs, drawings, formulas, business processes, secret processes and know-how, whether or not patentable or a copyright or trademark, which Executive may create, conceive, develop or make, either
alone or in conjunction with others and related or in any way connected with the Company’s strategic plans, products, processes or apparatus or the business (collectively, “Inventions”), shall be fully and promptly disclosed to
the Company and shall be the sole and exclusive property of the Company as against Executive or any of Executive’s assignees. Regardless of the status of Executive’s employment by the Company, Executive and Executive’s heirs, assigns
and representatives shall promptly assign to the Company any and all right, title and interest in and to such Inventions made during employment with the Company. 

  
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 (ii) Whether during or after the Term, Executive further agrees to execute and acknowledge
all papers and to do, at the Company’s expense, any and all other things necessary for or incident to the applying for, obtaining and maintaining of such letters patent, copyrights, trademarks or other intellectual property rights, as the case
may be, and to execute, on request, all papers necessary to assign and transfer such Inventions, copyrights, patents, patent applications and other intellectual property rights to the Company and its successors and assigns. In the event that the
Company is unable, after reasonable efforts and, in any event, after ten (10) business days, to secure Executive’s signature on a written assignment to the Company, of any application for letters patent, trademark registration or to any
common law or statutory copyright or other property right therein, whether because of Executive’s physical or mental incapacity, or for any other reason whatsoever, Executive irrevocably designates and appoints the Secretary of the Company as
Executive’s attorney-in-fact to act on Executive’s behalf to execute and file any such applications and to do all lawfully permitted acts to further the
prosecution or issuance of such assignments, letters patent, copyright or trademark. 
 (c)
Non-Disparagement. During the Term and at any time thereafter, Executive agrees not to disparage or encourage or induce others to disparage the Company, any Affiliate, any of their respective employees
that were employed during Executive’s employment with the Company or its Affiliates or any of their respective past and present, officers, directors, products or services (the “Company Parties”). For purposes of this
Section 14(e), the term “disparage” includes, without limitation, comments or statements to the press, to the Company’s or any Affiliate’s employees or to any individual or entity with whom the Company or any
Affiliate has a business relationship (including, without limitation, any vendor, supplier, customer or distributor), or any public statement, that in each case is intended to, or can be reasonably expected to, materially damage any of the Company
Parties. Upon termination of Executive’s employment, the Company shall instruct its chief executive officer, chief financial officer and chief operating officer not to disparage or encourage or induce others to disparage Executive while such
senior executives are employed by the Company. Notwithstanding the foregoing, nothing in this Section 14(e) shall prevent Executive or the chief executive officer, chief financial officer and chief operating officer of the Company from
making any truthful statement to the extent, but only to the extent (A) necessary with respect to any litigation, arbitration or mediation involving this Agreement, including, but not limited to, the enforcement of this Agreement, in the forum
in which such litigation, arbitration or mediation properly takes place or (B) required by law, legal process or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent
jurisdiction over Executive. 
 15. Cooperation. From and after an Executive’s termination of employment, Executive shall provide
Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s employment hereunder, provided, that the Company shall
reimburse Executive for Executive’s reasonable out-of-pocket costs and expenses (including legal counsel selected by Executive and reasonably acceptable to the
Company) and such cooperation shall not unreasonably burden Executive or unreasonably interfere with any subsequent employment that Executive may undertake. 

  
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 16. Injunctive Relief and Specific Performance. Executive understands and agrees that
Executive’s covenants under Sections 12, 14 and 15 are special and unique and that the Company and its Affiliates may suffer irreparable harm if Executive breaches any of Sections 12, 14, or 15 because monetary damages would be
inadequate to compensate the Company and its Affiliates for the breach of any of these sections. Accordingly, Executive acknowledges and agrees that the Company shall, in addition to any other remedies available to the Company at law or in equity,
be entitled to obtain specific performance and injunctive or other equitable relief by a federal or state court in Illinois to enforce the provisions of Sections 12, 14 and/or 15 without the necessity of posting a bond or proving actual
damages, without liability should such relief be denied, modified or vacated. The party who prevails in any such action or proceeding shall be entitled to obtain attorney’s fees. Further, if the Executive prevails in any such action or
proceeding previously described, the Executive shall be entitled to obtain attorney’s fees in respect of such action or proceeding. Additionally, in the event of a breach or threatened breach by Executive of Section 14, in addition
to all other available legal and equitable rights and remedies, the Company shall have the right to cease making payments, if any, being made pursuant to Section 10(a)(ii) hereunder. Executive also recognizes that the territorial, time and
scope limitations set forth in Section 14 are reasonable and are properly required for the protection of the Company and its Affiliates and in the event that any such territorial, time or scope limitation is deemed to be unreasonable by
a court of competent jurisdiction, the Company and Executive agree, and Executive submits, to the reduction of any or all of said territorial, time or scope limitations to such an area, period or scope as said court shall deem reasonable under the
circumstances. 
 17. Recoupment. Notwithstanding anything to the contrary, any compensation payable under this Agreement shall be
subject to any recoupment, repayment, “clawback” or similar policy adopted by the Company or required under applicable law or stock exchange rules. 

18. Miscellaneous. 
 (a)
All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (i) certified mail, postage and fees prepaid, or (ii) nationally recognized overnight express mail service, as
follows: 
 If to the Company: 

PHD Group Holdings LLC 

2001 Spring Road, Suite 500 

Oak Brook, IL 60523 

Attn: Chief Executive Officer and General Counsel 

With a copy which shall not constitute notice to: 

Berkshire Partners LLC 

200 Clarendon Street 

35th Floor 

Boston, MA 02116 

Attn: Joshua A. Lutzker and Sharlyn C. Heslam 

  
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 Weil, Gotshal & Manges LLP 

767 Fifth Avenue 

22nd Floor New York, NY 10153 

Attn: Shayla Harlev and Michael Nissan 

If to Executive: 

At her home address as then shown in the Company’s personnel records, 

or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be
effective only upon receipt. 
 (b) This Agreement is personal to the Executive and shall not be assigned by the Executive. Any purported
assignment by the Executive shall be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and its successors and assigns. 

(c) This Agreement contains the entire agreement between the parties with respect to the subject matter hereof superseding all other
agreements, term sheets, offer letters, and drafts thereof, oral or written, between the parties hereto with respect to the subject matter hereof. No promises, statements, understandings, representations or warranties of any kind, whether oral or in
writing, express or implied, have been made to Executive by any person or entity to induce him to enter into this Agreement other than the express terms set forth herein, and Executive is not relying upon any promises, statements, understandings,
representations, or warranties other than those expressly set forth in this Agreement. 
 (d) No change or modification of this Agreement
shall be valid unless the same shall be in writing and signed by all of the parties hereto. No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver. No waiver of any of the
provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, unless so provided in the waiver. 

(e) If any provisions of this Agreement (or portions thereof) shall, for any reason, be held invalid or unenforceable, such provisions (or
portions thereof) shall be ineffective only to the extent of such invalidity or unenforceability, and the remaining provisions of this Agreement (or portions thereof) shall nevertheless be valid, enforceable and of full force and effect. If any
court of competent jurisdiction finds that any restriction contained in this Agreement is invalid or unenforceable, then the parties hereto agree that such invalid or unenforceable restriction shall be deemed modified so that it shall be valid and
enforceable to the greatest extent permissible under law, and if such restriction cannot be modified so as to make it enforceable or valid, such finding shall not affect the enforceability or validity of any of the other restrictions contained
herein. 

  
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 (f) This Agreement may be executed in two or more identical counterparts, all of which shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such signature page were an original thereof. 
 (g) The section or paragraph headings or
titles herein are for convenience of reference only and shall not be deemed a part of this Agreement. The parties have jointly participated in the drafting of this Agreement, and the rule of construction that a contract shall be construed against
the drafter shall not be applied. The terms “including,” “includes,” “include” and words of like import shall be construed broadly as if followed by the words “without limitation.” The
terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found. 

(h) Notwithstanding anything to the contrary in this Agreement: 

(i) The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”) and the regulations and authoritative guidance promulgated thereunder to the extent applicable (collectively “Section 409A”), and all provisions of this Agreement shall be construed
in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. In no event whatsoever will the Company, any of its Affiliates, or any of their respective directors, officers, agents, attorneys, employees,
executives, shareholders, investors, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors or assigns be liable for any additional tax, interest or penalties that may be imposed on Executive under
Section 409A or any damages for failing to comply with Section 409A. 
 (ii) A termination of employment shall not be deemed to
have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under Section 409A upon or following a termination of employment unless
such termination is also a “separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “resignation,” “termination,”
“terminate,” “termination of employment” or like terms shall mean separation from service. If any payment, compensation or other benefit provided to Executive in connection with the termination of her employment is determined, in
whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A and Executive is a specified employee as defined in Section 409A(2)(B)(i) of the Code, no part of such payments shall be paid
before the day that is six (6) months plus one (1) day after the date of termination or, if earlier, ten business days following the Executive’s death (the “New Payment Date”). The aggregate of any payments that
otherwise would have been paid to the Executive during the period between the date of termination and the New Payment Date shall be paid to Executive in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding as of the
day immediately following the New Payment Date shall be paid without delay over the time period originally scheduled, in accordance with the terms of this Agreement. 

  
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 (iii) All reimbursements for costs and expenses under this Agreement shall be paid in no
event later than the end of the calendar year following the calendar year in which Executive incurs such expense. With regard to any provision herein that provides for reimbursement of costs and expenses or
in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for
another benefit, and (ii) the amount of expenses eligible for reimbursements or in-kind, benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year. 
 (iv) If under this Agreement, an amount is
paid in two or more installments, for purposes of Section 409A, each installment shall be treated as a separate payment. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment
shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company. 

(i) This Agreement, for all purposes, shall be construed in accordance with the laws of the State of Illinois without regard to conflicts of
law principles. Any action or proceeding by either of the parties to enforce this Agreement shall be brought only in a state or federal court located in the State of Illinois. The parties hereby irrevocably submit to the jurisdiction of such courts
and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue. 
 (j) Other than the
Company’s right to seek injunctive relief or specific performance as provided in this Agreement, any dispute, controversy, or claim between Executive, on the one hand, and the Company, on the other hand, arising out of, under, pursuant to, or
in any way relating to this Agreement shall be submitted to and resolved by confidential and binding arbitration (“Arbitration”), administered by the American Arbitration Association (“AAA”) and conducted pursuant
to the rules then in effect of the AAA governing commercial disputes. The Arbitration hearing shall take place in Illinois. Such Arbitration shall be before three neutral arbitrators (the “Panel”) licensed to practice law and
familiar with commercial disputes. Any award rendered in any Arbitration shall be final and conclusive upon the parties to the Arbitration and not subject to judicial review, and the judgment thereon may be entered in the highest court of the forum
(state or federal) having jurisdiction over the issues addressed in the Arbitration, but entry of such judgment will not be required to make such award effective. The Panel may enter a default decision against any party who fails to participate in
the Arbitration. The administration fees and expenses of the Arbitration shall be borne equally by the parties to the Arbitration; provided that each party shall pay for and bear the cost of his/her/its own experts, evidence, and
attorney’s fees, except that, in the discretion of the Panel, any award may include the costs of a party’s counsel and/or its share of the expense of Arbitration if the Panel expressly determines that an award of such costs is appropriate
to the party whose position substantially prevails in such Arbitration. Notwithstanding any other provision of this Agreement, no party shall be entitled to an award of special, punitive, or consequential damages. To submit a matter to Arbitration,
the party seeking redress shall notify in writing, in accordance with Section 18(a) of this Agreement, the party against whom such 

  
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 redress is sought, describe the nature of such claim, the provision of this Agreement that has been
allegedly violated and the material facts surrounding such claim. The Panel shall render a single written, reasoned decision. The decision of the Panel shall be binding upon the parties to the Arbitration, and after the completion of such
Arbitration, the parties to the Arbitration may only institute litigation regarding the Agreement for the sole purpose of enforcing the determination of the Arbitration hearing or, with respect to the Company, to seek injunctive or equitable relief
pursuant to Section 16 of this Agreement. The Panel shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this agreement to arbitrate, including any claim that
all or part of this Agreement is void or voidable and any claim that an issue is not subject to arbitration. All proceedings conducted pursuant to this agreement to arbitrate, including any order, decision or award of the arbitrator, shall be kept
confidential by all parties except to the extent such disclosure is required by law, or in a proceeding to enforce any rights under this Agreement. 

EXECUTIVE ACKNOWLEDGES THAT, BY SIGNING THIS AGREEMENT, SHE IS WAIVING ANY RIGHT THAT SHE MAY HAVE TO A JURY TRIAL OR A COURT TRIAL RELATED TO THIS AGREEMENT.

 (k) Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this Agreement by
Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he/she is bound, (ii) Executive is not a party to or
bound by any employment agreement, non-compete agreement or confidentiality agreement with any other person or entity and (iii) subject to Section 19, upon the execution and delivery of this
Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive on and after the date hereof, enforceable in accordance with its terms. Executive hereby acknowledges and represents that he has had the opportunity to
consult with independent legal counsel or other advisor of her choice and has done so regarding her rights and obligations under this Agreement, that she is entering into this Agreement knowingly, voluntarily, and of her own free will, that he is
relying on her own judgment in doing so, and that she fully understands the terms and conditions contained herein. 
 (l) The Company shall
have the right to withhold from any amount payable hereunder any Federal, state and local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation. 

(m) The covenants and obligations of the Company under Sections 8, 10, 15, 16 and 18 hereof, and the covenants and obligations of
Executive under Sections 10, 12, 13, 14, 15, 16 and 18 hereof, shall continue and survive any expiration of the Term, termination of Executive’s employment or any termination of this Agreement. 

19. Effectiveness of Agreement. Notwithstanding anything to the contrary contained in this Agreement, in the event that the Merger
Agreement is terminated in accordance with its terms or the Closing does not occur for any reason, this Agreement shall become null and void ab initio and shall have no effect. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	PHD GROUP HOLDINGS LLC
		
	By:	 	 /s/ Michael A. Miles, Jr.

	Name:	 	Michael A. Miles, Jr.
	Title:	 	President


 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT (SHERRI ABRUSCATO)] 












 
	
	 /s/ Sherri Abruscato

	  

Sherri Abruscato



 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT (S. ABRUSCATO)]