Document:

Exhibit

Exhibit 10.1

TAX MATTERS AGREEMENT
This Tax Matters Agreement (the “Agreement”) is entered into as of November 9, 2015, by and between DARDEN RESTAURANTS, INC., a Florida corporation (“Darden”), and FOUR CORNERS PROPERTY TRUST, INC., a Maryland corporation and currently an indirect, wholly-owned subsidiary of Darden (“FCPT”).
RECITALS
WHEREAS, as of the date hereof, Darden is the common parent of an affiliated group of domestic corporations within the meaning of section 1504(a) of the Code, and the members of the affiliated group have heretofore joined in filing consolidated federal income Tax Returns; 
WHEREAS, the Parties have entered into the Separation and Distribution Agreement, pursuant to which, Darden and its Subsidiaries will transfer the Assigned Assets to FCPT and its Subsidiaries in actual or constructive exchange for (i) the assumption or incurrence, as applicable, by FCPT and certain of its Subsidiaries of the Assumed Liabilities (as hereinafter defined), (ii) the issuance by FCPT to Darden and its Subsidiaries of all of the outstanding shares of the common stock, par value $0.0001 per share, of FCPT (the “FCPT Common Stock”) other than the ten (10)) shares of FCPT already held by RARE Hospitality International, Inc. (a Subsidiary of Darden) on the date hereof, and (iii) the transfer by FCPT, directly or indirectly, to Darden and its Subsidiaries of the Cash Payment (as hereinafter defined), all as more fully described in this Agreement and the Transaction Agreements (together with the other internal reorganization steps set forth in the Plan of Reorganization (as hereinafter defined), the “Reorganization”); 
WHEREAS, following the Reorganization, Darden intends to effect a distribution to (the “Distribution”) to the holders of the outstanding shares of common stock, without par value, of Darden (the “Darden Common Stock”), on a pro rata basis, of all of the outstanding shares of FCPT Common Stock so that, following the Distribution, Darden and FCPT will be two (2) independent, publicly traded companies; and 
WHEREAS, it is the intention of the Parties that the Reorganization and the Distribution, together with certain related transactions, qualify for tax-free treatment as a reorganization within the meaning of sections 355, 368(a)(1)(D), and 361 of the Code; and
WHEREAS, in connection with the Reorganization and the Distribution, the Parties desire to enter into this Agreement to provide for certain Tax matters, including the assignment of responsibility for the preparation and filing of Tax Returns, the payment of and indemnification for Taxes, entitlement to refunds of Taxes, and the prosecution and defense of any Tax Contest. 

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NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows: 
ARTICLE I
DEFINITIONS
Section 1.1    General. As used in this Agreement, the following terms shall have the following meanings: 
“Action” means any demand, action, claim, suit, countersuit, litigation, arbitration, prosecution, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit, examination, or investigation commenced, brought, conducted, or heard by or before, or otherwise involving, any court, grand jury, or other Governmental Authority or any arbitrator or arbitration panel. 
“Agreement” shall have the meaning specified in the preamble. 
“Affiliate” shall have the meaning specified in the Separation and Distribution Agreement. 
“Assigned Assets” shall have the meaning specified in the Separation and Distribution Agreement. 
“Assumed Liabilities” shall have the meaning specified in the Separation and Distribution Agreement. 
“Business Day” or “Business Days” shall mean any day except a Saturday, Sunday or a day on which a commercial bank in New York, New York is authorized or required to close. 
“Cash Payment” shall have the meaning specified in the Separation and Distribution Agreement. 
“Closing-of-the-Books Method” shall mean the apportionment of items between portions of a Taxable period (i) in the case of any Tax based upon or related to income, gains, receipts, gross margins, employment, sales, use, or other Taxes imposed on a non-periodic basis, pursuant to an interim closing-of-the-books as of the end of the Distribution Date, and (ii) in the case of property, ad valorem and other Taxes imposed on a periodic basis, on the basis of elapsed days during the relevant portion of the Taxable period. 
“Code” shall have the meaning specified in the Separation and Distribution Agreement. 
“LongHorn San Antonio Business” shall have the meaning specified in the Separation and Distribution Agreement.  

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“Darden Common Stock” shall have the meaning specified in the recitals. 
“Darden Group” shall mean Darden and its Subsidiaries, including any corporations that would be members of an affiliated group if they were includible corporations under section 1504(b) of the Code (in each case, including any successors thereof), but excluding any entity that is a member of the FCPT Group. 
“Darden Opinions” shall mean the written opinions of Skadden, Arps, Slate, Meagher & Flom LLP and KPMG LLP, Darden’s tax advisors, addressed to Darden and dated as of the Distribution Date, with respect to certain Tax aspects of the Reorganization and the Distribution. 
“Dispute” shall have the meaning specified in Section 2.10. 
“Dispute Date” shall have the meaning specified in Section 2.10.
“Disqualifying Action” shall mean any action, including entering into any agreement, understanding or arrangement or any substantial negotiations with respect to any transaction or series of transactions, or the failure to take any action expressly required pursuant to this Agreement, the Separation and Distribution Agreement or the Tax Materials (for the avoidance of doubt, including any such action or failure to take action that is pursuant to any plan, agreement, understanding or arrangement existing in whole or in part prior to the Distribution Date), that would, in each case, cause a Distribution Disqualification to occur; provided, however, that the term “Disqualifying Action” shall not include any action described in or contemplated by the Transaction Agreements and Tax Materials, in each case, to the extent such action does not constitute a breach of any representation, warranty, or covenant in any of the Transaction Agreements or Tax Materials. 
“Distribution” shall have the meaning specified in the recitals. 
“Distribution Date” shall have the meaning specified in the Separation and Distribution Agreement. 
“Distribution Disqualification” shall mean that (i) the Reorganization, taken together with the Distribution, fails to qualify as a tax-free reorganization under section 368(a)(1)(D) of the Code; (ii) the Distribution fails to qualify as a distribution of the FCPT Common Stock pursuant to section 355 of the Code, pursuant to which no gain or loss is recognized for federal income tax purposes by any of Darden, FCPT, or the holders of the Darden Common Stock, except to the extent of cash received in lieu of fractional shares; (iii) the Cash Payment fails to qualify as money transferred to creditors or distributed to shareholders in connection with the reorganization within the meaning of section 361(b)(1) of the Code, but only to the extent that the Cash Payment does not exceed Darden’s tax basis in the FCPT Common Stock immediately 

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prior to the Cash Payment and Darden distributes the Cash Payment to its creditors or shareholders in connection with the Reorganization, and/or (iv) certain of the Reorganization transactions fail to qualify for the tax-free status described in the Darden Opinions or the Private Letter Ruling. 
“Distribution Taxes” shall mean all Taxes (other than Transfer Taxes), as determined by a Final Determination, resulting from the Reorganization and the Distribution (other than any Taxes arising in respect of an intercompany transaction pursuant to section 1.1502-13 of the Treasury Regulations or an excess loss account pursuant to section 1.1502-19 of the Treasury Regulations, unless such Taxes would not have arisen absent a Distribution Disqualification). 
“FCPT” shall have the meaning specified in the recitals. 
“FCPT Common Stock” shall have the meaning specified in the recitals. 
“FCPT Group” shall mean FCPT and its Subsidiaries, including any corporations that would be members of an affiliated group if they were includible corporations under section 1504(b) of the Code (in each case, including any successors thereof), but excluding any entity that is a member of the Darden Group. 
“FCPT Opinion” shall mean the written opinion of Skadden, Arps, Slate, Meagher & Flom LLP, Darden’s tax counsel, addressed to FCPT and dated as of the Distribution Date, in form and substance reasonably satisfactory to FCPT, to the effect, commencing with its taxable year beginning January 1, 2016, that FCPT will be organized in conformity with the requirements for qualification as a REIT under the Code and that its proposed method of operation will enable it meet the requirements for qualification and Taxation as a REIT under the Code. 
“Final Determination” shall mean the final resolution of liability for any Tax, which resolution may be for a specific issue or adjustment or for a taxable period, (i) by an acceptance on an IRS Form 870 or 870-AD (or any successor forms thereto), or by a comparable form or agreement pursuant to the laws of a state, local, or non-United States taxing jurisdiction, except that acceptance on an IRS Form 870 or 870-AD or comparable form or agreement will not constitute a Final Determination to the extent that such form or agreement reserves (whether by its terms or by operation of Law) the right of the taxpayer to file a claim for refund or the right of the Taxing Authority to assert a further deficiency in respect of such issue or adjustment or for such taxable period (as the case may be); (ii) by a decision, judgment, decree, or other order of a court of competent jurisdiction which is or has become final and unappealable; (iii) by a closing agreement or accepted offer in compromise pursuant to sections 7121 or 7122 of the Code, or a comparable agreement pursuant to the laws of a state, local, or non-United States jurisdiction; (iv) by any allowance of a refund or credit in respect of an overpayment of a Tax, but only after the expiration of all periods during which such refund may be recovered (including by way of 

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offset) or, where such periods are undefined or indefinite, in accordance with ordinary course limitation periods, by the jurisdiction imposing such Tax; (v) by a final settlement resulting from a treaty-based competent authority determination; or (vi) by any other final disposition, including by reason of the expiration of the applicable statute of limitations or by mutual agreement of the Parties. 
“Governmental Authority” shall have the meaning specified in the Separation and Distribution Agreement. 
“IRS” shall mean the Internal Revenue Service. 
“Nonqualifying Income” shall have the meaning specified in the Separation and Distribution Agreement. 
“Operating Partnership” shall mean Four Corners Operating Partnership, LP, a Delaware limited partnership. 
“Party” shall mean Darden or FCPT, as the context may require. 
“Person” shall have the meaning specified in the Separation and Distribution Agreement. 
“Post-Closing Period” shall mean any Taxable year or other Taxable period beginning after the Distribution Date and, in the case of any Straddle Period, that part of the Straddle Period that begins at the beginning of the day after the Distribution Date. 
“Plan of Reorganization” shall have the meaning specified in the Separation and Distribution Agreement.
“Potential Disqualifying Action” shall mean any action (including entering into any agreement, understanding or arrangement or any substantial negotiations with respect to any transaction or series of transactions) that would be reasonably likely to cause a Distribution Disqualification to occur, including any action that would be inconsistent with any representation or covenant made in this Agreement, the Separation and Distribution Agreement, or the Tax Materials. 
“Pre-Closing Period” shall mean any Taxable year or other Taxable period that ends on or before the Distribution Date and, in the case of any Straddle Period, that part of the Straddle Period that ends at the end of the Distribution Date. 
“Private Letter Ruling” shall mean the IRS private letter ruling, dated November 5, 2015, issued to Darden.
“REIT” shall have the meaning specified in the Separation and Distribution Agreement. 

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“Reorganization” shall have the meaning specified in the recitals. 
“Responsible Party” shall mean, with respect to any Tax Return, the Party having responsibility for preparing and filing such Tax Return pursuant to this Agreement. 
“Restricted Period” shall mean the two (2) year period commencing on the Distribution Date.  
“Ruling Request” shall mean the request for rulings submitted by Darden to the IRS in connection with the Private Letter Ruling, including all appendices, attachments and exhibits thereto and all supplemental submissions and correspondence submitted by Darden in connection with such request for rulings. 
“Separation and Distribution Agreement” shall mean the Separation and Distribution Agreement by and between Darden and FCPT dated October 21, 2015, as amended.
“Straddle Period” shall mean any Taxable period commencing on or prior to, and ending after, the Distribution Date. 
“Subsidiary” shall have the meaning specified in the Separation and Distribution Agreement. 
“Successor REIT Determination” shall mean a determination by a Taxing Authority that a former Darden Subsidiary failed to qualify as a REIT for certain taxable year(s) and that FCPT is a successor to such Subsidiary within the meaning of section 856(g)(3) of the Code.
“Tax” (and, with correlative meaning, “Taxable”) shall mean (i) any and all U.S. federal, state, local and foreign taxes, including income, alternative or add-on minimum, gross receipts, profits, lease, service, service use, wage, employment, workers compensation, business occupation, environmental, estimated, excise, sales, use, transfer, license, payroll, franchise, severance, stamp, occupation, windfall profits, withholding, social security, unemployment, disability, ad valorem, capital stock, paid in capital, recording, registration, property, real property gains, value added, business license, custom duties, and other taxes, charges, fees, levies, imposts, duties or assessments of any kind whatsoever, imposed or required to be withheld by any Taxing Authority, including any interest, additions to Tax, or penalties applicable or related thereto, and (ii) any liability for the Taxes of any Person under section 1.1502-6 of the Treasury Regulations (or similar provision of state or local law). 
“Tax Advisor” shall mean Tax counsel of recognized national standing or a "Big Four" accounting firm, in either case, with experience in the tax area involved in the Dispute or issue. 
“Tax Attributes” shall mean net operating losses, capital losses, investment tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall domestic losses, overall foreign losses, dual consolidated losses, previously taxed income, separate limitation losses and any other 

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losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future Taxable period. 
“Tax Benefit” shall mean the amount by which the Tax liability (after giving effect to any alternative minimum or similar Tax) of a corporation to the appropriate Taxing Authority is reduced (including by deduction, entitlement to refund, credit, or otherwise, whether available in the current taxable year, as an adjustment to taxable income in any other taxable year or as a carryforward or carryback, as applicable), and in the case of a consolidated federal income Tax Return or combined, unitary, or other similar state, local, or other income Tax Return, the amount by which the Tax liability of the affiliated group (within the meaning of section 1504(a) of the Code) or other relevant group of corporations to the appropriate government or jurisdiction is reduced (including by deduction, entitlement to refund, credit, or otherwise, whether available in the current taxable year, as an adjustment to taxable income in any other taxable year or as a carryforward or carryback, as applicable).  A Tax Benefit will be deemed to have been recognized at the time any refund of Taxes is received or applied against other Taxes due, or at the time of filing a Tax Return (including any Tax Return relating to estimated Taxes) on which a loss, deduction, or credit is applied in reduction of Taxes which would otherwise be payable; provided, however, that, where a Party has other losses, deductions, credits, or similar items available to it, deductions, credits, or items for which the other Party would be entitled to a payment under this Agreement will be treated as the last items utilized to produce a Tax Benefit.
“Tax Certificates” shall mean the certificates, in customary form, of officers of the Parties that will be provided to Skadden, Arps, Slate, Meagher & Flom LLP and/or KPMG LLP, Darden’s tax advisors, in connection with the Darden Opinions and the FCPT Opinion. 
“Tax Contest” shall mean any audit, review, examination, dispute, suit, action, proposed assessment, or other administrative or judicial proceeding with respect to Taxes. 
“Tax-Free Status of the Transactions” shall mean the tax-free treatment accorded to the Reorganization and the Distribution as described in the Private Letter Ruling and the Darden Opinions. 
“Tax Materials” shall mean (A) the Ruling Request, (B) the Private Letter Ruling, (C) the Tax Opinions, (D) the Tax Certificates, and (E) any other materials delivered or deliverable in connection with the issuance of the Ruling and the rendering of the Tax Opinions. 
“Tax Opinions” shall mean the FCPT Opinion and the Darden Opinions. 
“Tax Return” shall mean any return, report, certificate, form, or similar statement or document (including any attachments thereto and any information return, amended tax return, claim for refund, or declaration of estimated tax) supplied to or filed with, or required to be supplied to or 

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filed with, a Taxing Authority, or any bill for or notice related to ad valorem or other similar Taxes received from a Taxing Authority, in each case, in connection with the determination, assessment, or collection of any Tax or the administration of any laws, regulations, or administrative requirements relating to any Tax. 
“Taxing Authority” shall mean any Governmental Authority or other authority in connection with the determination, assessment or collection of any Tax or the administration of any laws, regulations or administrative requirements relating to any Tax. 
“Third-Party Claim” shall mean receipt by an indemnified Party of notice of any action, suit, proceedings, audit, claim, demand, investigation or assessment made or brought by an unaffiliated third party.
“Transaction Agreements” shall have the meaning specified in the Separation and Distribution Agreement. 
“Transfer Taxes” shall mean all sales, use, privilege, transfer, documentary, stamp, recording, and similar Taxes and fees (including any penalties, interest or additions thereto) imposed upon any Party in connection with the Reorganization and the Distribution. 
“Treasury Regulations” shall mean the final and temporary (but not proposed) income Tax regulations promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations).
“Unqualified Tax Opinion” shall mean an unqualified opinion of nationally recognized tax counsel on which Darden and FCPT may rely to the effect that an action or transaction (including a Potential Disqualifying Action) will not alter any of the conclusions regarding the Tax-Free Status of the Transactions. Any such opinion must assume that the Reorganization and the Distribution and any transaction associated therewith would have been tax-free, or would have had the tax treatment described in the Darden Opinions, if such action or transaction did not occur. 
Section 1.2    References; Interpretation. References in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa. The word “including” when used in this Agreement shall be deemed to be followed by the phrase “without limitation”. Unless the context otherwise requires, references in this Agreement to Articles, Sections, Exhibits, and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, such Agreement. Unless the context otherwise requires, the words “hereof”, “hereby”, and “herein” and words of similar meaning when used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section, or provision of this Agreement. 

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ARTICLE II     
 
TAX RETURNS AND TAX PAYMENTS 
Section 2.1    Obligations to File Tax Returns. 
(a)    Darden will have the sole and exclusive responsibility for the preparation and filing of all Tax Returns that any member of the Darden Group is obligated to file, including for this purpose those Tax Returns that include any member of the FCPT Group for any Pre-Closing Period or any Straddle Period. FCPT, on behalf of each member of the FCPT Group, hereby irrevocably authorizes and designates Darden as its agent, coordinator, and administrator for the purpose of taking any and all actions necessary to the filing of any such Tax Return and for the purpose of making payments to, or collecting refunds from, any Taxing Authority in respect of any such Tax Return. Except as otherwise provided herein, Darden shall have the exclusive right to file, prosecute, compromise, or settle any claim for refund for Taxes in respect of a Tax Return for which Darden bears responsibility under this Section 2.1(a) and to determine whether any refunds of such Taxes to which the Darden Group may be entitled shall be received by way of refund or credit against the Tax liability of the Darden Group. 
(b)    Except as provided herein, FCPT shall have the sole and exclusive responsibility for the preparation of all Tax Returns that include any member of the FCPT Group for any Post-Closing Period. Except as otherwise provided herein, FCPT shall have the exclusive right to file, prosecute, compromise or settle any claim for refund for Taxes in respect of a Tax Return for which FCPT bears responsibility under this Section 2.1(b) and to determine whether any refunds of such Taxes to which the FCPT Group may be entitled shall be received by way of refund or credit against the Tax liability of the FCPT Group. 
(c)    To the extent permitted by law or administrative practice in any jurisdiction in which Tax Returns that include any member of the FCPT Group are filed, the Parties shall cause the current Taxable period of such member of the FCPT Group to end upon the end of day on the Distribution Date. 
(d)    Darden shall have the sole and exclusive responsibility for the preparation and filing of all Tax Returns that include any member of the FCPT Group for any Straddle Period. 
(i)    Except as provided in Section 2.1(d)(ii), no later than twenty (20) Business Days prior to the date on which any such Straddle Period Tax Return is required to be filed (taking into account any valid extensions), Darden shall submit or cause to be submitted to FCPT a draft of such Straddle Period Tax Return for FCPT’s review. Darden shall make or cause to be made any and all changes to such Tax Return reasonably requested by FCPT, to the extent that such changes do not materially increase the amount of Tax for 

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which Darden is responsible hereunder and shall consider, in good faith, other changes reasonably requested by FCPT; provided, however, that FCPT must submit to Darden its proposed changes to such Tax Return in writing within ten (10) Business Days of receiving such Tax Return. 
(ii)    Notwithstanding the foregoing, for sales and liquor Tax Returns, no later than five (5) Business Days after the date on which any sales or liquor Straddle Period Tax Return is required to be filed (taking into account any valid extensions), Darden shall submit or cause to be submitted to FCPT a copy of such Straddle Period Tax Return as filed for FCPT’s review. Darden shall amend or correct or cause to be amended or corrected such Tax Return to reflect any and all changes to reasonably requested by FCPT, to the extent that such changes do not materially increase the amount of Tax for which Darden is responsible hereunder and shall consider, in good faith, other changes reasonably requested by FCPT; provided, however, that FCPT must submit to Darden its proposed changes to such Tax Return in writing within five (5) Business Days of receiving such Tax Return. 
Section 2.2    Manner of Preparation. 
(a)    Unless and until there has been a Final Determination to the contrary, all Tax Returns of or that include FCPT, Darden, or any of their respective Subsidiaries shall be prepared in a manner that is consistent with the Tax Materials. In addition, to the extent permitted by law, unless and until there has been a Final Determination to the contrary, all Tax Returns of any member of the FCPT Group prepared pursuant to Section 2.1(a) or Section 2.1(d) shall be prepared in a manner that is otherwise consistent with past practices of Darden, FCPT, and their respective Subsidiaries. 
(b)    To the extent a Party takes a position on an income Tax Return prepared pursuant to Section 2.1 that is reasonably expected to materially increase the Tax liability of the other Party and there is no past practice of Darden, FCPT or their respective Subsidiaries with respect to such position, the preparing Party shall provide such income Tax Return to the other Party for its review and comment at least twenty (20) Business Days prior to the date on which such income Tax Return is required to be filed (taking into account any valid extensions). The preparing Party shall make or cause to be made any and all changes to such Tax Return reasonably requested by the other Party, provided, however, that the other Party must submit to the preparing Party its proposed changes to such Tax Return in writing within ten (10) Business Days of receiving such Tax Return. To the extent the Parties disagree with respect to the position, the Parties shall negotiate in good faith to resolve such dispute. If the Parties are unable to resolve the dispute, such dispute shall be resolved pursuant to the terms of Section 2.10 of this Agreement. 

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Section 2.3    Obligation to Remit Taxes. Except as otherwise provided herein, Darden and FCPT shall each remit or cause to be remitted to the applicable Taxing Authority any Taxes due in respect of any Tax Return that it is required to file hereunder (or, in the case of a Tax for which no Tax Return is required to be filed, which is otherwise payable by it or its Subsidiaries to any Taxing Authority) and shall be entitled to reimbursement for such payments from the other Party to the extent provided herein; provided, however, that in the case of any Tax Return, the Party not required to file such Tax Return shall remit to the Party required to file such Tax Return in immediately available funds the amount of any Taxes reflected on such Tax Return for which the former Party is responsible hereunder at least five (5) Business Days before payment of the relevant amount is due to a Taxing Authority provided such Tax Return is completed at that time. 
Section 2.4    Allocation of and Indemnification for Taxes. 
(a)    Indemnification by Darden. Darden shall pay or cause to be paid, shall be responsible for, and shall indemnify, defend, and hold harmless FCPT from and against, (i) all Taxes (other than Distribution Taxes) of the Darden Group for any period, (ii) all Taxes (other than Distribution Taxes) of the Darden Group and the FCPT Group for any Pre-Closing Period, and (iii) all Distribution Taxes, except to the extent that such Taxes are subject to indemnification by FCPT pursuant to Section 2.4(b)(ii). 
(b)    Indemnification by FCPT. 
(i)    FCPT shall pay or cause to be paid, shall be responsible for, and shall indemnify, defend, and hold harmless Darden from and against all Taxes (other than Distribution Taxes) of the FCPT Group, or that otherwise relate to the Assigned Assets or Assumed Liabilities, for any Post-Closing Period (except for Taxes for which Darden is responsible pursuant to Section 2.4(a)). 
(ii)    Notwithstanding any other provision of this Agreement to the contrary, if there is a Final Determination that a Distribution Disqualification has occurred, then, to the extent that the Distribution Disqualification results from any Disqualifying Action taken after the Distribution Date by FCPT or any other member of the FCPT Group, FCPT shall indemnify, defend, and hold harmless the Darden Group from and against any and all (A) Distribution Taxes, (B) accounting, legal, and other professional fees and court costs incurred in connection with such Taxes (other than such costs incurred in the joint defense of a Third-Party Claim, which costs are subject to Section 5.4 below) and (C) Taxes resulting from indemnification payments hereunder incurred by the Darden Group. Notwithstanding any other provision of this Agreement to the contrary, the liability of FCPT pursuant to this Section 2.4(b)(ii), subject to the limitations contained in Section 2.4(c), shall be the sole and exclusive basis for any remedy of Darden and its Affiliates 

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for any matter (including any breach of representation or covenant) related to a Distribution Disqualification or any Distribution Taxes. 
(c)    Straddle Period Taxes. In the case of Taxes (other than Distribution Taxes) that are attributable to a Straddle Period, such Taxes shall be allocated between the portion of the Straddle Period that is a Pre-Closing Period and the portion of the Straddle Period that is a Post-Closing Period based on the Closing-of-the-Books Method. 
Section 2.5    Transfer Taxes. Any Transfer Taxes shall be paid by Darden, and Darden will file all necessary Tax Returns and other documentation with respect to all such Transfer Taxes, and, if required by applicable law, FCPT will, and will cause its Affiliates to, join in the execution of any such Tax Returns and other documentation; provided, however, if FCPT fails to join in the execution of any such Tax Returns and other documentation then Darden shall be authorized to execute such Tax Returns and other documentation on behalf of FCPT.
Section 2.6    Refunds. FCPT shall be entitled to any refund of or credit for Taxes for which FCPT is responsible under this Agreement, and Darden shall be entitled to any refund of or credit for Taxes for which Darden is responsible under this Agreement. Refunds for any Straddle Period shall be equitably apportioned between Darden and FCPT in accordance with the provisions of this Agreement governing the Taxes with respect to such periods. A Party receiving a refund to which the other Party is entitled pursuant to this Agreement shall pay the amount to which such other Party is entitled within thirty (30) calendar days after the receipt of the refund. 
Section 2.7    Carrybacks. To the extent permitted by law, the FCPT Group shall elect to forego a carryback of any net operating losses, capital losses, or credits (including the election under section 172(b)(3) of the Code) from any Post-Closing Period to any Pre-Closing Period. If and to the extent that the FCPT Group is not permitted by applicable law to forego such carryback and requests in writing that Darden obtain a refund with respect to such carryback, then (a) Darden shall use commercially reasonable efforts to obtain a refund with respect to such carryback (including by filing an amended Tax Return) and (b) to the extent that Darden receives a refund of Taxes (including interest received thereon) attributable to such carryback, Darden shall pay such refund to FCPT. Darden shall be entitled to reduce the amount of any such refund for its reasonable out-of-pocket costs and expenses incurred in connection with such refund, including any Taxes on receipt of such refund or interest thereon. 
Section 2.8    Tax Attributes. As soon as reasonably practicable following the Distribution Date, and, in any event, at least ninety (90) calendar days before the due date (including extensions) of the federal income Tax Return for the FCPT Group for the tax year ending December 31, 2015, Darden shall provide FCPT with its calculation of the Tax Attributes associated with the FCPT Group and the Tax bases of the assets and liabilities transferred to FCPT in connection with the 

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Distribution for its review and comment, which calculation shall be in accordance with applicable law. Darden shall consider in good faith any reasonable comments to such calculation proposed by FCPT within thirty (30) calendar days of FCPT’s receipt of such calculations and shall not unreasonably withhold incorporation of FCPT’s comments. To the extent the Parties are unable to resolve a dispute with respect to the calculations, and such dispute is with respect to an issue of law or fact, such dispute will be settled pursuant to the terms of Section 2.10 of this Agreement. Unless and until there has been a Final Determination to the contrary, all Tax Returns of or that include FCPT, Darden, or any of their respective Subsidiaries shall be prepared in a manner that is consistent with the determination of the allocation of Tax Attributes pursuant to this Section 2.8. 
Section 2.9    Amended Returns. Without the prior written consent of Darden, which consent shall not be unreasonably withheld, conditioned, or delayed, FCPT shall not, and shall not permit any member of the FCPT Group to, file any amended Tax Return that includes any member of the Darden Group. 
Section 2.10    Dispute Resolution. Subject to the final sentence of this Section 2.10, the Parties shall attempt in good faith to resolve any disagreement arising with respect to this Agreement, including any dispute in connection with a claim by a third party (a “Dispute”). Either Party may give the other Party written notice of any Dispute not resolved in the normal course of business. Subject to the final sentence of this Section 2.10, if the Parties cannot agree within thirty (30) Business Day following the date on which one Party gives such notice (the “Dispute Date”), then the Dispute shall be referred to a Tax Advisor acceptable to each of the Parties to act as an arbitrator in order to resolve the dispute. If the Parties are unable to agree upon a Tax Advisor within fifteen (15) calendar days, the Tax Advisor selected by Darden and the Tax Advisor selected by FCPT shall jointly select a Tax Advisor that will resolve the dispute. Such Tax Advisor shall be empowered to resolve the Dispute, including by engaging nationally recognized accountants and other experts. The Tax Advisor chosen to resolve the Dispute shall furnish written notice to the Parties of its resolution of such Dispute as soon as practicable, but in no event later than forty-five (45) Business Days after its acceptance of the matter for resolution. Any such resolution by the Tax Advisor will be conclusive and binding on the Parties. Each of Darden and FCPT shall bear fifty percent (50%) of the aggregate expenses of the Tax Advisor chosen to resolve the Dispute. Notwithstanding the foregoing, this provision shall not apply to any Dispute related to liability for, or an indemnification obligation with respect to, any Distribution Taxes. 
Section 2.11    FCPT Tax Status. The Parties acknowledge that FCPT intends to be taxed as a C-corporation for the taxable year ending December 31, 2015. The Parties also acknowledge that FCPT intends to qualify and elect to be subject to tax as a REIT for the taxable year ending December 31, 2016 and thereafter.

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ARTICLE III     
 
REPRESENTATIONS AND COVENANTS 
Section 3.1    Compliance with the Ruling Request, the Private Letter Ruling, and the Tax Opinions. 
(c)    Darden hereby represents and warrants that (i) it has examined (or upon receipt will examine) the Tax Materials and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to Darden or any of its Affiliates (including the FCPT Group), are or will be, from the time presented or made through and including the Distribution Date, true, correct, and complete in all material respects. Darden hereby confirms and agrees to comply (or to cause its Subsidiaries, including the FCPT Group for periods through and including the Distribution Date, to comply) with any and all covenants and agreements in the Tax Materials made by any member of the Darden Group. 
(d)    FCPT hereby represents and warrants that (i) it has examined (or upon receipt will examine) the Tax Materials and (ii) the facts presented therein, to the extent descriptive of or relating to the intent, action, or non-action of the FCPT Group as of or following the Distribution Date, will be true, correct, and complete in all material respects, and (iii) the representations made therein, to the extent made by any member of the FCPT Group, are or will be, from the time presented or made through and including the Distribution Date, true, correct, and complete in all material respects. FCPT hereby confirms and agrees to comply (or to cause the members of the FCPT Group to comply) with any and all covenants and agreements in the Tax Materials made by any member of the FCPT Group. 
Section 3.2    Covenants. 
(a)    From and after the Distribution Date, Darden shall not, and shall not permit any member of the Darden Group (but, for avoidance of doubt, not including the FCPT Group) to, take any Disqualifying Action. 
(b)    Except as otherwise provided in this Section 3.2, until the expiration of the Restricted Period, FCPT shall not, and shall not permit any member of the FCPT Group to, take a Potential Disqualifying Action. 
(c)    Until the expiration of the Restricted Period, FCPT shall not enter into (or permit any member of the FCPT Group to enter into) any agreement, understanding, or arrangement or any substantial negotiations with respect to any transaction (including a merger to which FCPT is a party) involving the acquisition (including by any member of the FCPT Group) of capital stock of FCPT, and FCPT shall not issue any additional shares of capital stock or transfer or modify 

14

any options, warrants, convertible obligations, or other instrument that provides for the right or possibility to issue, redeem, or transfer any shares of capital stock of FCPT (or enter into any agreement, understanding, arrangement, or any substantial negotiations with respect to any such issuance, transfer, or modification), except to the extent that all such agreements, understandings, arrangements, substantial negotiations, and other issuances, taken together, do not involve a direct or indirect acquisition by any Person or Persons of a “50 percent or greater interest” in FCPT within the meaning of section 355(d)(4) of the Code. Notwithstanding the foregoing: 
(iii)    FCPT may issue additional shares of common stock of FCPT to a person in a transaction to which section 83 or section 421(a) or (b) of the Code applies (or options to acquire stock in such a transaction) in connection with the person’s performance of services as an employee, director or independent contractor of any member of the FCPT Group or any other person that is related to FCPT under section 355(d)(7)(A) of the Code or a corporation the assets of which FCPT or a member of the FCPT Group acquires in a reorganization under section 368 of the Code, provided that such stock is not excessive by reference to the services performed by such person and such person or a coordinating group of which the person is a member will not be a controlling shareholder or a ten-percent shareholder of FCPT (within the meaning of sections 1.355-7(h)(3) and (8) of the Treasury Regulations) immediately after the issuance of such common stock; and 
(iv)    FCPT may issue additional shares of common stock of FCPT to a retirement plan of FCPT or any other person that is treated as the same employer as FCPT under section 414(b), (c), (m), or (o) of the Code that qualifies under section 401(a) or 403(a) of the Code, provided that the stock acquired by all of the qualified plans of FCPT and such other persons during the four-year period beginning two (2) years before the Distribution Date does not, in the aggregate, represent more than ten percent (10%) of the total combined voting power of all classes of stock of FCPT entitled to vote or more than ten percent (10%) of the total value of shares of all classes of stock of FCPT. 
(d)    Until the expiration of the Restricted Period, FCPT shall continue and cause to be continued the active conduct (as defined in section 355(b)(2) of the Code and the Treasury Regulations promulgated thereunder) of the LongHorn San Antonio Business, taking into account section 355(b)(3) of the Code. 
(e)    Until the expiration of the Restricted Period, FCPT shall not voluntarily dissolve, liquidate, merge, or consolidate with any other Person, unless, in the case of a merger or consolidation, FCPT is the survivor of the merger or consolidation. 
(f)    Until the expiration of the Restricted Period, FCPT shall not redeem or otherwise repurchase (directly or through an Affiliate) any stock, or rights to acquire stock, except to the 

15

extent such repurchases satisfy section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by Revenue Procedure 2003-48 and Revenue Procedure 2013-32). 
(g)    Notwithstanding the foregoing, the provisions of this Section 3.2 shall not prohibit FCPT or any member of the FCPT Group from implementing any action or transaction (including a Potential Disqualifying Action) if (i) the IRS has granted a favorable ruling to Darden or FCPT that such action would not alter the Tax-Free Status of the Transactions, (ii) FCPT has delivered to Darden an Unqualified Tax Opinion, in form and substance reasonably acceptable to Darden, with respect to such action or transaction, or (iii) Darden has waived in writing the requirement to obtain such ruling or Unqualified Tax Opinion with respect to such action or transaction. Within twenty (20) Business Days of the receipt by Darden of a draft of an Unqualified Tax Opinion, Darden shall inform FCPT in writing of whether such Unqualified Tax Opinion is reasonably acceptable to it and, to the extent unacceptable, shall inform FCPT with reasonable specificity of the reasons therefor. If FCPT notifies Darden that it desires to seek a ruling from the IRS or an Unqualified Tax Opinion with respect to such an action or transaction, Darden shall cooperate with FCPT and use its commercially reasonable efforts to assist FCPT in obtaining such a ruling from the IRS or an Unqualified Tax Opinion. FCPT shall reimburse Darden for all reasonable out-of-pocket costs and expenses incurred by the Darden Group in assisting FCPT in obtaining a ruling or Unqualified Tax Opinion within ten (10) Business Days after receiving an invoice from Darden therefor. 
(h)    From and after the Distribution Date, upon a Successor REIT Determination, Darden shall use and shall cause each of its Subsidiaries to use its reasonable best efforts to cure any issue with respect to the REIT status of the relevant Darden Subsidiary.
ARTICLE IV     
 
PAYMENTS 
Section 4.1    Payments. Except as otherwise provided herein, payments due under this Agreement shall be made no later than ten (10) Business Days after (i) the receipt or crediting of a refund or (ii) the delivery of notice of payment of a Tax for which the other Party is responsible under this Agreement, in each case, to an account designated by the Party entitled to such payment. Payments due hereunder, but not made within such period, shall be accompanied by simple interest at a rate of ten percent (10%). 
Section 4.2    Treatment of Payments. The Parties agree that any payment made between the Parties pursuant to this Agreement or the Separation and Distribution Agreement with respect to a Pre-Closing Period or as a result of an event or action occurring in a Pre-Closing Period shall be treated, to the extent permitted by law, for all Tax purposes as a distribution from or a capital 

16

contribution to FCPT made immediately prior to the Distribution. If the receipt or accrual of any such payment that is an indemnification payment results in Taxable income (including an increase in the amount of any gain or other income recognized on the Distribution) to the recipient thereof, such payment shall be increased so that, after the payment of any Taxes with respect to the payment, the recipient thereof shall have realized the same net amount it would have realized had the payment not resulted in Taxable income. To the extent that any Party is liable for Taxes for which the other Party is responsible hereunder and such liability for Taxes gives rise to a Tax Benefit to the former Party, the amount of any payment made to the former Party by the latter Party shall be decreased by taking into account any resulting reduction in Taxes of the former Party.  If a reduction in Taxes of the former Party occurs in a Taxable period following the period in which the payment is made by the latter Party, the former Party shall promptly repay the latter Party the amount of such reduction when actually realized.
Section 4.3    Notice. The Parties shall give each other prompt written notice of any payment that may be due to the provider of such notice under this Agreement. 
Section 4.4    FCPT Nonqualifying Income. In the event that counsel or independent accountants for FCPT determine that there exists a material risk that any indemnification payments due under this Agreement would be treated as Nonqualifying Income upon the payment of such amounts to FCPT, the payments under this Agreement shall be made pursuant to Section 7.8(f) of the Separation and Distribution Agreement. 
ARTICLE V     
 
TAX CONTESTS 
Section 5.1    Notice of Tax Contests. FCPT shall promptly notify Darden in writing upon receipt by FCPT or any member of the FCPT Group of a written communication from any Taxing Authority with respect to any Tax Contest concerning any Tax Return or otherwise concerning Taxes for which Darden may be liable under this Agreement. Darden shall promptly notify FCPT in writing upon receipt by Darden or any member of the Darden Group of a written communication from any Taxing Authority with respect to any Tax Contest concerning any Tax Return or otherwise concerning Taxes for which FCPT may be liable under this Agreement. 
Section 5.2    Control of Contest by Darden. Except as provided in Section 5.4, Darden shall have the sole responsibility and control over the handling of any Tax Contest, including the exclusive right to communicate with agents of the Taxing Authority, involving (a) any Pre-Closing Period Tax Return of FCPT or any member of the FCPT Group or otherwise relating to the Assigned Assets or Assumed Liabilities for a Pre-Closing Period or (b) any Straddle Period Tax Return of FCPT or any member of the FCPT Group or otherwise relating to the Assigned Assets or Assumed Liabilities for a Straddle Period, to the extent that the Tax Contest relates 

17

only to the Pre-Closing Period portion of such Straddle Period. Upon FCPT’s request, FCPT shall be allowed to participate in, but not to control, at FCPT’s expense, the handling of any such Tax Contest with respect to any item that may affect FCPT’s liability for Taxes pursuant to this Agreement. Darden shall not settle or concede any such Tax Contest with respect to any item in excess of $50,000 for which FCPT is liable hereunder without the prior written consent of FCPT, which consent shall not be unreasonably withheld, delayed, or conditioned. 
Section 5.3    Control of Contest by FCPT. Except as provided in Section 5.4, FCPT shall have the sole responsibility and control over the handling of any Tax Contest, including the exclusive right to communicate with agents of the Taxing Authority, involving any Tax Return that includes FCPT or any member of the FCPT Group or otherwise relates to the Assigned Assets or Assumed Liabilities not described in Section 5.2. Upon Darden’s request, Darden shall be allowed to participate in, but not to control, at Darden’s expense, the handling of any such Tax Contest with respect to any item that may affect the liability of Darden hereunder. FCPT shall not settle or concede any such Tax Contest with respect to any item in excess of $50,000 for which Darden is liable hereunder without the prior written consent of Darden, which consent shall not be unreasonably withheld, delayed, or conditioned. 
Section 5.4    Joint Control of Certain Tax Contests. Darden and FCPT shall jointly control, and shall cooperate in good faith in, the handing of any Tax Contest that relates to (i) any potential Distribution Disqualification or any Distribution Taxes for which FCPT may be obligated to provide indemnification hereunder or (ii) any Straddle Period Tax Return, if the Tax Contest relates both to the Pre-Closing Period portion and to the Post-Closing Period portion of the Straddle Period. Darden and FCPT shall exercise their rights to jointly control the defense (in a manner that would preserve for both Darden and FCPT any attorney-client privilege, joint defense, or other privilege with respect thereto) of any such Tax Contest solely for the purpose of defeating such Tax Contest. If either Darden or FCPT fails to jointly defend any such Tax Contest, then the other party shall solely defend such Tax Contest and the party failing to jointly defend shall use reasonable best efforts to cooperate with the other party in its defense of such Tax Contest. Darden and FCPT shall each pay its own expenses related to the handling of any such Tax Contest. 
ARTICLE VI     
 
COOPERATION
Section 6.1    General. Each Party shall, and shall cause all of such Party’s Subsidiaries and, to the extent capable of so doing, Affiliates to, fully cooperate with the other Party in connection with the preparation and filing of any Tax Return or the conduct of any Tax Contest (including, where appropriate or necessary, providing a power of attorney) concerning any issues or any 

18

other matter contemplated under this Agreement. Each Party shall make its employees and facilities available on a mutually convenient basis to facilitate such cooperation. 
Section 6.2    Consistent Treatment. Unless and until there has been a Final Determination to the contrary, each Party agrees (a) to treat the Reorganization, taken together with the Distribution, as a tax-free reorganization under section 368(a)(1)(D) of the Code and the Distribution as a tax-free distribution of the FCPT Common Stock under section 355 of the Code, and (b) not to take any position on any Tax Return or in connection with any Tax Contest that is inconsistent with (i) the allocation of Taxes and Tax Attributes hereunder, or (ii) this Agreement, the Separation and Distribution Agreement, or the Tax Materials. 
ARTICLE VII     
 
RETENTION OF RECORDS; ACCESS 
Section 7.1    Retention of Records; Access. The Parties shall (a) retain records, documents, accounting data, and other information (including computer data) necessary for the preparation and filing of all Tax Returns in respect of Taxes of either the Darden Group or the FCPT Group for any Taxable period, or for any Tax Contests relating to such Tax Returns, and (b) give to the other Party reasonable access to such records, documents, accounting data, and other information (including computer data) and to its personnel (insuring their cooperation) and premises, for the purpose of the review or audit of such Tax Returns to the extent relevant to an obligation or liability of a Party under this Agreement or for purposes of the preparation or filing of any such Tax Return, the conduct of any Tax Contest or any other matter reasonably and in good faith related to the Tax affairs of the requesting Party. The requesting party shall bear all reasonable out-of-pocket costs and expenses in connection therewith. At any time after the Distribution Date that Darden or any member of the Darden Group proposes to destroy such material or information, Darden shall first notify FCPT in writing and FCPT shall be entitled to receive such materials or information proposed to be destroyed. At any time after the Distribution Date that FCPT or any member of the FCPT Group proposes to destroy such material or information, FCPT shall first notify Darden in writing and Darden shall be entitled to receive such materials or information proposed to be destroyed. 
Section 7.2    Confidentiality; Ownership of Information; Privileged Information. The provisions of Section 8.2 of the Separation and Distribution Agreement relating to confidentiality of information, ownership of information, privileged information, and related matters shall apply with equal force to any records and information prepared and shared by and among the Parties in carrying out the intent of this Agreement. 
Section 7.3    Continuation of Retention of Information, Access Obligations. The obligations set forth above in Section 7.1 and Section 7.2 shall continue until the longer of (a) the time of a 

19

Final Determination or (b) expiration of all applicable statutes of limitations to which the records and information relate. For purposes of the preceding sentence, each Party shall assume that no applicable statute of limitations has expired unless such Party has received notification or otherwise has actual knowledge that such statute of limitations has expired. 
ARTICLE VIII     
 
MISCELLANEOUS PROVISIONS 
Section 8.1    Complete Agreement; Construction. This Agreement shall constitute the entire agreement among the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. 
Section 8.2    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which together shall constitute one and the same instrument. 
Section 8.3    Survival of Agreements. Notwithstanding any other provision of this Agreement to the contrary, all representations, covenants and obligations contained in this Agreement shall survive until the expiration of the applicable statute of limitations with respect to any such matter (including extensions thereof). 
Section 8.4    Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be delivered personally, by facsimile (with confirming copy sent by one of the other delivery methods specified herein), by overnight courier or sent by certified, registered or express air mail, postage prepaid, and shall be deemed given when so delivered personally, or when so received by facsimile or courier, or, if mailed, three (3) calendar days after the date of mailing, as follows: 

20

	
			
	 
	 
	 

	If to Darden:
	 
	Darden Restaurants, Inc.
1000 Darden Center Drive 
Orlando, FL 32837
Attention: Angela Simmons

	 
	 

	with a copy to:
	 
	Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, NY 10036
Attention: Pamela Lawrence Endreny

	 
	 

	If to FCPT:
	 
	Four Corners Property Trust, Inc. 
591 Redwood Highway
Suite 1150
Mill Valley, CA 94941
Attention:   Chief Executive Officer
                   Chief Financial Officer 

	 
	 

or to such other address and with such other copies as any Party hereto shall notify the other Parties hereto (as provided above) from time to time. 
Section 8.5    Waivers. The failure of any Party to require strict performance by the other Party of any provision in this Agreement will not waive or diminish that Party’s right to demand strict performance thereafter of that or any other provision hereof. 
Section 8.6    Amendment and Modification. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the Parties hereto. 
Section 8.7    Assignment; Successors and Assigns; No Third Party Rights. This Agreement may not be assigned by any Party hereto without the prior written consent of the other Parties hereto, and any attempted assignment shall be null and void. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns. This Agreement shall be for the sole benefit of the Parties hereto, and their respective successors and permitted assigns, and is not intended, nor shall be construed, to give any Person, other than the Parties hereto and their respective successors and permitted assigns any legal or equitable right, benefit, remedy, or claim hereunder. 
Section 8.8    No Strict Construction. Darden and FCPT each acknowledge that this Agreement has been prepared jointly by the Parties hereto and shall not be strictly construed against any Party hereto. 

21

Section 8.9    Application to Present and Future Subsidiaries. This Agreement is being entered into by the Parties on behalf of themselves and their respective Subsidiaries. This Agreement shall constitute a direct obligation of each such entity and shall be deemed to have been readopted and affirmed on behalf of any entity that becomes a Subsidiary of any Party to this Agreement in the future. 
Section 8.10    Titles and Headings. The headings and table of contents in this Agreement are for reference purposes only, and shall not in any way affect the meaning or interpretation of this Agreement. 
Section 8.11    Exhibits and Schedules. The exhibits and schedules to this Agreement shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 
Section 8.12    Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware. Each of the Parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware and the United States District Court for any district within such state for the purpose of any Action or judgment relating to or arising out of this Agreement or any of the transactions contemplated hereby and to the laying of venue in such court. Service of process in connection with any such Action may be served on each Party hereto by the same methods as are specified for the giving of notices under this Agreement. Each Party hereto irrevocably and unconditionally waives and agrees not to plead or claim any objection to the laying of venue of any such Action brought in such courts and irrevocably and unconditionally waives any claim that any such Action brought in any such court has been brought in an inconvenient forum. 
Section 8.13    Severability. If any term, provisions, covenant, or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void, or unenforceable, the remainder of the terms, provisions, covenants, and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired, or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible. 
[remainder of page intentionally left blank] 

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed as of the day and year first above written. 
 
	
					
	 
	 
	 
	 
	 

	Darden Restaurants, Inc.

	 
	 

	By:
	 
	/s/ Anthony G. Morrow

	 
	 
	Name:  Anthony G. Morrow
	 
	 

	 
	 
	Title:  Corporate Secretary
	 
	 

 
 
	
					
	 
	 
	 
	 
	 

	Four Corners Property Trust, Inc.

	 
	 

	By:
	 
	/s/ William H. Lenehan

	 
	 
	Name:  William H. Lenehan
	 
	 

	 
	 
	Title:  Chief Executive Officer
	 
	 

23
23935768-CHISR01A - MSWExhibit

Exhibit 10.2

TRANSITION SERVICES AGREEMENT
THIS TRANSITION SERVICES AGREEMENT (this "Agreement"), dated November 9, 2015 (the “Effective Date”), is entered into by and between Darden Restaurants, Inc., a Florida corporation ("Darden"), and Four Corners Property Trust, Inc., a Maryland corporation ("FCPT"), on behalf of itself and its Affiliates.  Darden and FCPT are each sometimes referred to herein as a "Party" and, collectively, as the "Parties".
WHEREAS, Darden and FCPT have entered into that certain Separation and Distribution Agreement, dated October 21, 2015 (as amended, the "Distribution Agreement"; capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Distribution Agreement), which provides, among other things, that Darden and FCPT shall enter into a Transition Services Agreement in connection with the transactions contemplated by the Distribution Agreement; 
WHEREAS, Darden and its Affiliates currently provide, and provided as of the date of the Distribution Agreement, certain services in support of the FCPT Business; and
WHEREAS, to facilitate the transition of the FCPT Business to FCPT, the Parties desire that, for a limited transition period, Darden and its Affiliates provide certain services to FCPT and its Affiliates on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:
1.    Description of Services.
(a)    Services.  Subject to the terms and provisions of this Agreement and solely for the purpose of facilitating the transition of the FCPT Business to FCPT, Darden shall (or shall cause its Affiliates to) provide to FCPT the services set forth on Exhibit 1 hereto (as such Exhibit 1 may be amended by the mutual agreement of the Parties in writing from time to time, the "Services Attachment") (the "Services").
(b)    Purchase of Additional or Modified Services.  From time to time, FCPT may request Darden to provide additional or modified Services that are not described in the Services Attachment, but are of a similar scope or nature as those used by Darden relating to the FCPT Business prior to the Distribution Date.  Darden will use commercially reasonable efforts to accommodate any reasonable requests by FCPT to provide such additional or modified Services.  In order to initiate a request for additional or modified Services, FCPT shall submit a request in writing to Darden specifying the nature of the additional or modified Services and the date on which it is requesting such Services to commence, and requesting a cost estimate (based on the general parameters set forth in this Agreement) and time frame for completion of such Services.  Darden shall respond in writing within ten (10) business days to such written request indicating whether it will provide such additional or modified Services and, if so, setting forth the terms and conditions thereof (including, without limitation, the cost for such additional or modified Services) and the date upon which it would be able to commence providing such additional or modified Services; provided that such ten (10) business day period shall be subject to reasonable extension if, due to the volume, frequency or type of requests submitted by FCPT, Darden's preparation of responses 

1

to such requests is materially interfering with, or is likely to materially interfere with, Darden's normal business activities.  If Darden has indicated that it will provide additional or modified Services requested by FCPT, and if FCPT accepts the terms and conditions set forth in Darden's response to such request (and the date upon which additional or modified Services would commence), then such additional or modified Services shall be provided hereunder and according to the terms agreed to by the Parties in a written amendment to the Services Attachment, which shall be consistent to the greatest extent practicable with the terms of this Agreement.
(c)    Ancillary Services.  Any functions, responsibilities, activities or tasks that are not specifically described in this Agreement or the Services Attachment, but are reasonably required for the proper performance and delivery of the Services (including any additional or modified Services), and are a necessary or inherent part of such Services, as performed by Darden, in the ordinary course of business, shall be deemed to be implied by and included within the scope of such Services, subject to any limitations set forth in this Agreement or the Services Attachment, to the same extent and in the same manner as if specifically described in this Agreement.
(d)    Modifications.  Unless otherwise provided for in this Agreement, if FCPT makes any change in the processes, procedures, practices, networks, equipment, configurations, or systems pertaining to the FCPT Business, and such change has a materially adverse impact on Darden's ability to provide any of the Services, then Darden shall be excused from performance of any such affected Service until FCPT mitigates the material adverse impact of such change or the Parties enter into an agreement to provide additional or modified services that may be necessitated by such changes, and FCPT shall be responsible for all expenses incurred by Darden in connection with the cessation and, if applicable, the resumption of the affected Services.
(e)     Transition Plan.  The Parties shall agree on a transition plan after the execution of this Agreement (the "Transition Plan") which shall include: (i) a plan and timetable for the migration of FCPT away from the provision of Services by Darden; (ii) assistance in relation to migration; (iii) information in relation to the operation of the relevant information technology systems and the interface between such information technology systems for the purpose of implementing the migration referred to in this Section (including the applicable Services listed in the Services Attachment); (iv) respective responsibilities of the Parties in carrying out the migration; and (v) safeguards to ensure minimal disruption to both Parties' ongoing businesses during the migration. Each Party shall implement and comply with its obligations under the Transition Plan as agreed to by the Parties.  Except as may otherwise be expressly provided in the Transition Plan or Services Attachment, as applicable, FCPT shall bear all costs associated with the migration by FCPT away from the Services provided by Darden pursuant to the Transition Plan. 
(f)    Representatives.
(i)    Service Representatives.  Each Party will designate an individual who shall be the primary interface for the purposes of coordinating the Services provided hereunder (the "Service Representative").  Such individual shall (A) coordinate with the other Party and its Service Representative to provide the relevant contacts in that Party's applicable departments for the purposes of implementing and performing the Services, (B) evaluate in consultation with the other Party's Service Representative when a particular Service may be terminated, and (C) have the authority and power to make decisions with respect to actions to be taken by such Party with respect to the provision of Services under this Agreement.  The Service Representative 

2

shall perform the duties required hereby in a professional and timely manner.  Each Party may change its Service Representative by giving written notice to the other Party in accordance with the notice provisions of this Agreement.
(ii)    Obligations of the Service Representatives.  Each Party shall, or shall ensure that its Service Representative, as applicable, respond within a commercially reasonable time to any reasonable requests by the other Party or its Service Representative for such Party's Service Representative to provide directions, instructions, approvals, authorizations, decisions or other information reasonably necessary for Darden to perform any Services.  
(iii)    Meetings of the Service Representatives.  The Service Representatives shall meet on a monthly basis (which meeting may be held telephonically) during the Term.  The purpose of such meetings shall be to discuss the Services and each Party's obligations under this Agreement, including operational details, transitional matters, dispute resolution and any other issues related to this Agreement.  Such meetings will take place at mutually agreed locations (including by teleconference) and may include a reasonable number of additional representatives from either Party.
(g)    Standard of the Provision of Services.  Darden shall provide the Services in a manner and at a level as more particularly described in Section 8 of this Agreement.  Darden shall provide Services in accordance in all material respects with all applicable Laws.  
2.    Term.
(a)    The term of this Agreement shall commence on the Effective Date and, unless terminated earlier in accordance with Section 12, expire on the latest end date with respect to all Services specified in the Services Attachment (the "Term"). Thereafter, if FCPT desires and Darden agrees to continue to perform any of the Services after the Term has expired, the Parties shall negotiate in good faith to determine an amount that compensates Darden for all of its costs for such performance; provided, however, that in no event shall any of the Services be performed after the date that is one year after the Effective Date.  However, should Darden fail to complete performance of any Service(s) within the Term identified in the Services Attachment for such Service(s), and such failure does not result from the actions or inactions of FCPT or a force majeure event (as defined in Section 16 herein), the Term for such incomplete Service(s) shall be extended to accommodate complete performance without additional charge to FCPT; provided, however, that in no event shall any of the Services be performed after the date that is one year after the Effective Date. The Services so performed by Darden after the expiration of the Term shall continue to constitute Services under this Agreement and be subject in all respects to the provisions of this Agreement for the duration of the extension period. 
(b)    Darden shall (or shall cause its Affiliates to) provide each Service for the period commencing on the Effective Date and ending on the earlier to occur of (i) the expiration of the term with respect to such Service (as set forth in the Services Attachment), or (ii) the date that the Parties mutually agree in writing that such Service is no longer required to be provided by Darden or its Affiliates, subject to earlier termination of this Agreement or termination of all or a portion of the Services, as set forth in Section 12 hereof. Notwithstanding the foregoing, FCPT shall (and shall cause its Affiliates to) use commercially reasonable efforts to transition the Services to 

3

another provider as quickly as practicable or, as applicable, to cause FCPT and/or its Affiliates to provide the Services.
3.    Consideration for Services.  As consideration for the Services, FCPT shall pay to Darden the monthly service fee (the "Service Fee") for each of the Services as set forth in the Services Attachment and for all out-of-pocket costs and expenses paid to third parties actually incurred by Darden in the provision of the Services that are approved in writing (including by electronic mail) by FCPT's Service Representative prior to Darden incurring such out-of-pocket expense; provided, however, Darden shall not be required to perform Services until FCPT has approved any related third-party costs and expenses.
4.    Terms of Payment.
(a)    As promptly as practicable following the end of each calendar month during the Term, Darden shall submit to FCPT in writing an invoice setting out in reasonable detail each Service performed by Darden during the preceding month and the related Service Fee and any costs and expenses.  Subject to subsection (c) below, FCPT shall pay the amount shown on each such invoice no later than thirty (30) calendar days after receipt of such invoice; payment shall be made without withholding or deduction of any kind.  Subject to subsection (c) below, if such amount is not received in full by Darden within such 30-day period, FCPT shall also pay Darden interest on the unpaid portion from and after the last day of such 30-day period following receipt of such invoice until paid in full, at a rate per annum equal to the prime lender rate as reported on the last day of the calendar month in respect of such invoice by the Wall Street Journal.
(b)    Any transition, excise, sales, use or similar tax charged to, assessed on or incurred by the rendering of the Services shall be split equally between Darden, on the one hand, and FCPT, on the other hand, and FCPT's share shall be specified by Darden on an invoice and paid by FCPT to Darden in addition to the Service Fees; provided, however, Darden shall be solely responsible for its own income taxes. 
(c)    Should FCPT dispute in good faith any portion or the entire amount due on any invoice or require any adjustment to an invoiced amount, FCPT shall promptly notify Darden in writing of the nature and basis of the dispute and/or adjustment within fifteen (15) business days after FCPT's receipt of such invoice.  If FCPT fails to notify Darden within such 15-day period, the invoiced amount shall be deemed to be accurate and correct and shall not be subject to dispute or contest by FCPT or any Affiliate thereof.  In the event FCPT timely delivers notice of a dispute and/or adjustment, the Parties shall use their reasonable best efforts to resolve such matter within thirty (30) calendar days and FCPT shall not be required to pay any contested amount until the dispute is resolved.  FCPT shall pay to Darden within fifteen (15) business days following agreement by the Parties any portion of a previously contested amount that is determined by the Parties to be payable by FCPT, with interest from and after the date payment was originally due from FCPT through, but excluding, the date of payment by FCPT, at the rate per annum equal to the prime lender rate as reported on the last day of the calendar month in respect of the applicable invoice by the Wall Street Journal. 
5.    Method of Payment.  All amounts payable by FCPT hereunder shall be remitted to Darden by wire transfer of immediately available funds in United States dollars to a bank to be 

4

designated in the invoice or otherwise in writing by Darden, unless otherwise provided for and agreed upon in writing by the Parties.
6.    Accounting Records and Documents.
(a)    Darden or its Affiliates shall be responsible for maintaining full and accurate accounts and records of all Services rendered pursuant to this Agreement and such additional information as FCPT may reasonably request for purposes of their internal bookkeeping, accounting, operations and management.  Darden shall maintain its accounts and records in accordance with past practice; provided, that, to the extent full and accurate information is not relied upon by Darden in the ordinary course of business with respect to any particular item, unit or market/sub-market, Darden shall maintain such accounts and records on the basis of appropriate and reasonable allocations.  Darden shall keep such accounts and records available, during all reasonable business hours during the Term of this Agreement, at its principal offices, or at such other location as required by applicable Laws, for audit, inspection and copying by FCPT and its authorized Representatives, upon reasonable notice, authorized by them or any governmental agency having jurisdiction over FCPT and/or its subsidiaries; provided, that, the costs or expenses incurred by FCPT or Darden for any such audit, inspection or copying shall be the sole responsibility of FCPT.
(b)    At any time during the Term of this Agreement, FCPT or its authorized Representatives shall have the right to inspect and audit Darden's accounts, books and records relating to the Services upon five (5) business days prior written notice during regular business hours and without undue disruption of the normal operations of Darden.
(c)    All information FCPT, its Affiliates and its other authorized Representatives gain access to pursuant to this Section 6 shall be subject to the terms of the confidentiality provisions set forth in Section 13 of this Agreement.
7.    Consents.
(a)    If any consent or approval of, or notice to, any third party is required to implement the terms of this Agreement ("Third Party Consent"), FCPT and Darden shall each use their respective commercially reasonable efforts to obtain any Third Party Consent as soon as reasonably practicable, each at the cost of FCPT.  If any such Third Party Consent is refused or not obtained within three (3) months after the Distribution Date, the Parties shall co-operate in good faith to agree and implement reasonable alternative arrangements which achieve the same commercial effect as that contemplated by this Agreement.
(b)    If either Party so requests, the other Party shall provide all reasonable assistance in obtaining any Third Party Consent and neither Party will unreasonably do or omit to do anything which would cause any relevant third party to refuse to grant or to terminate or revoke any Third Party Consent.
8.    Performance Standards.  In providing the Services to FCPT under this Agreement, Darden shall (and shall cause its controlled subsidiaries to):
(a)    in the case of any Services for which Darden is not dependent on the performance of third parties, provide such Services in a timely and professional manner generally consistent with the past practices of Darden and its controlled subsidiaries in providing the same 

5

or similar Services to the FCPT Business prior to the execution of the Distribution Agreement (or, to the extent the same or similar services have not previously been provided, consistent with general industry standards) and in conformance in all material respects with any service levels set forth in the applicable Services Attachment; and 
(b)    in the case of any Services for which Darden is dependent on the performance of third parties, provide such Services in a manner consistent with the level of performance that Darden receives from such third party.
9.    No Representations or Warranties.  EXCEPT AS SET FORTH IN SECTION 8, THE SERVICES ARE PROVIDED “WITH ALL FAULTS” AND “AS IS” AND DARDEN MAKES NO EXPRESS OR IMPLIED WARRANTY WITH RESPECT TO THE SERVICES, AT LAW OR IN EQUITY, INCLUDING, WITHOUT LIMITATION, WITH RESPECT TO MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.  ANY AND ALL OTHER REPRESENTATIONS, WARRANTIES OR GUARANTIES, WRITTEN OR ORAL, EXPRESS OR IMPLIED IN FACT OR IN LAW, AND WHETHER OR NOT BASED ON STATUTE, ARE EXCLUDED AND EXPRESSLY DISCLAIMED.  DARDEN DOES NOT WARRANT UNINTERRUPTED OR ERROR-FREE PROVISION OF SERVICES.
10.    Status of Employees and Facilities; Proprietary Rights.  
(a)    Whenever Darden utilizes its (or its Affiliates') employees to perform the Services for FCPT pursuant to this Agreement, such employees shall at all times remain subject to the direction and control of Darden (or its Affiliates), and FCPT shall have no liability to such persons for their welfare, salaries, fringe benefits, legally required employer contributions and tax obligations by virtue of the relationships established under this Agreement.  Darden shall have complete discretion to supervise and manage such employees and any third-party contractors providing the Services on behalf of Darden, and Darden is not required to continue employment for any specific individual personnel of Darden or its Affiliates or to maintain engagements with specific third-party contractors.  No equipment or facility of Darden used in performing the Services for or subject to use by FCPT shall be deemed to be transferred, assigned, conveyed or leased by such performance or use.  Darden shall maintain appropriate security, maintenance and insurance coverage on such equipment or facility.
(b)    Except as set forth in the Services Attachment, to the extent Darden or its Affiliates use any proprietary intellectual property rights owned by or licensed to Darden or its Affiliates in providing the Services, such proprietary intellectual property rights and any derivative works thereof, or modifications or improvements thereto, conceived or created as part of the provision of Services ("Improvements") will, as between the Parties, remain the sole property of Darden or its Affiliate, as applicable, unless any such Improvement was created for FCPT pursuant to a certain Service and at FCPT's request. If any Improvement is created for FCPT pursuant to a certain Service or other proprietary intellectual property rights are created specifically for FCPT pursuant to Services provided under the Services Attachment (a "FCPT Specific Improvement"), such FCPT Specific Improvement shall be owned by FCPT.  The applicable Party will and hereby does assign to the applicable owner designated above, and agrees to assign automatically in the future upon first recordation in a tangible medium or first reduction to practice, all of such Party's right, title and interest in and to all Improvements, if any.  All rights not expressly granted herein are reserved.  

6

11.    Indemnification.
(a)    From and after the date of this Agreement, Darden shall indemnify, defend and hold harmless the FCPT Indemnified Parties from and against all losses, damages, liabilities, deficiencies, claims, interest, awards, judgments, penalties, costs and expenses (including reasonable attorneys’ fees, costs and other reasonable out-of-pocket expenses incurred in investigating, preparing or defending the foregoing) (hereinafter collectively, “Losses”)  asserted against, imposed upon or incurred by the FCPT Indemnified Parties to the extent resulting from, arising out of, based upon or otherwise in respect of the gross negligence or willful misconduct of Darden or its Affiliates or Representatives in the performance of Darden's obligations under this Agreement.  
(b)    From and after the date of this Agreement, FCPT shall indemnify, defend and hold harmless the Darden Indemnified Parties from and against all Losses asserted against, imposed upon or incurred by the Darden Indemnified Parties to the extent resulting from, arising out of, based upon or otherwise in respect of this Agreement or the Services other than Losses asserted against, imposed upon or incurred by the Darden Indemnified Parties to the extent resulting from, arising out of, based upon or otherwise in respect of the gross negligence or willful misconduct of Darden or its Affiliates or Representatives in the performance of Darden's obligations under this Agreement.
(c)    In the event Darden (or any Darden Indemnified Party) or FCPT (or any FCPT Indemnified Party) shall have a claim for indemnity against the other Party under the terms of this Agreement, the Parties shall follow the procedures set forth in Article VII of the Distribution Agreement as if fully set forth herein.
(d)    Independent of, severable from, and to be enforced independently of any other enforceable or unenforceable provision of this Agreement, NO PARTY WILL BE LIABLE TO ANY OTHER PARTY (NOR TO ANY PERSON CLAIMING RIGHTS DERIVED FROM ANY OTHER PARTY'S RIGHTS) FOR PUNITIVE, EXEMPLARY, SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF USE, LOSS OF BUSINESS, LOSS OF PROFIT OR LOSS OF GOODWILL.  Further, indemnification shall be limited to actual Losses which in no event shall exceed the total amount of compensation payable to Darden hereunder.
(e)    Except as otherwise provided in this Section 11, Darden's sole responsibility to FCPT for errors or omissions in providing the Services shall be to re-perform such Services promptly and properly in a diligent manner, at no additional cost or expense; provided, however, that each Party shall use reasonable best efforts to detect any such errors or omissions and promptly advise the other Party of any such error or omission of which it becomes aware.
12.    Termination.  
(a)    This Agreement may be terminated prior to expiration of the Term in accordance with the following:
(i)    upon the mutual written agreement of the Parties;

7

(ii)    by either Darden, on the one hand, or FCPT, on the other hand, for material breach of any of the terms hereof by Darden or by FCPT, respectively, (A) if such breach is curable within thirty (30) calendar days and such breach shall not have been cured within thirty (30) calendar days after written notice of breach is delivered to the defaulting Party and (B) if such breach is not curable within thirty (30) calendar days and such breach shall not have been addressed by the defaulting Party through a good faith plan to cure such breach as promptly as practicable; 
(iii)    by Darden if FCPT shall fail to pay for Services in accordance with the terms of this Agreement (and such payment is not disputed by FCPT in good faith in accordance with Section 4(c) hereof) and such breach is not cured within ten (10) calendar days after written notice of breach is delivered to FCPT, including by electronic mail to FCPT's Service Representative; or
(iv)    by either Darden, on the one hand, or FCPT, on the other hand, upon written notice to Darden, on the one hand, or FCPT, on the other hand, if the other Party files a proceeding in bankruptcy, receivership, rehabilitation or reorganization, or for composition, liquidation or dissolution or for similar relief, or there is a filing against such person of any such proceeding which is not dismissed within sixty (60) calendar days after the filing thereof.
(b)    In addition, this Agreement may be terminated solely with respect to any one or more Service(s) or additional service(s) provided hereunder prior to the expiration of the Term either upon the mutual written agreement of the Parties or in accordance with the following:
(i)    If FCPT desires to terminate a Service, FCPT shall complete and deliver to Darden a Service Termination Request Form, substantially in the form attached hereto as Exhibit 2.  In completing the Service Termination Request Form, FCPT shall refer to the Service it wishes to terminate (the "Terminated Service") as it is specifically named in the Services Attachment, and the requested date of termination.  In the event that FCPT requests termination of a Service as of a date that is less than sixty (60) days following delivery of the Service Termination Request Form, FCPT shall nonetheless be obligated to pay Darden for the cost of providing such Service through the end of such sixty (60)-day period, notwithstanding such termination unless Darden shall otherwise agree in writing.
(ii)    Unless the requested date of termination is set forth on the Service Termination Request Form, Darden shall cease such Terminated Service(s) or additional service(s) as soon as practicable after Darden's receipt of the Service Termination Request Form.  If Darden ceases any Terminated Service(s) prior to the date that is sixty (60) calendar days after Darden has received such written notification from FCPT, then FCPT will compensate Darden for the cost of Darden providing such Terminated Service(s) through the end of such sixty (60) calendar day period, notwithstanding such termination unless Darden shall otherwise agree in writing.
(iii)    If a Service is terminated, the Services Attachment shall be updated, as applicable, to reflect such termination.  
(c)    Immediately following expiration or termination of this Agreement, each Party shall, except as otherwise provided in any other Transaction Agreement, return to the other Party (and make no further use of) all proprietary information of the other Party in each Party’s possession or control, including, in the case of FCPT, any Darden Confidential Information and, in the case of Darden, any FCPT Confidential Information.   Likewise, except as otherwise provided 

8

in any other Transaction Agreement or as necessary to comply with applicable law, within thirty (30) days following any such termination or expiration, each Party shall return to the other Party (and make no further use of) all copies of all proprietary information of the other Party in each Party's possession or control, including, in the case of FCPT, any Darden Confidential Information and, in the case of Darden, any FCPT Confidential Information.  
13.    Confidentiality.  Each Party acknowledges that during the course of providing Services hereunder, or in the course of receiving Services hereunder, the other Party may disclose to it certain confidential information.  Each Party agrees to use such confidential information only for the purposes for which it was disclosed and in accordance with the terms and conditions set forth in Section 8.2 of the Distribution Agreement and the obligations hereunder shall survive until the later of (i) five (5) years after the date of disclosure of confidential information hereunder or (ii) so long as may be required by Law.  
14.    Independent Contractor Status.  Each Party shall be deemed to be an independent contractor to the other Party.  Nothing contained in this Agreement shall create or be deemed to create an employment, agency, joint venture or partnership relationship between Darden and FCPT.  The terms of this Agreement are not intended to cause any of the Parties and their Affiliates to become a joint employer for any purpose.  Each of the Parties agrees that the provisions of this Agreement as a whole are not intended to, and do not, constitute control of the other Party (or any Affiliates thereof) or provide it with the ability to control such other Party (or any Affiliates thereof), and each Party expressly disclaims any right or power under this Agreement to exercise any power whatsoever over the management or policies of the other Party (or any Affiliates thereof).  Nothing in this Agreement shall oblige either Party to act in breach of the requirements of any Law applicable to it, including securities laws, written policy statements of securities commissions and other regulatory authorities, and the by-laws, rules, regulations and written policy statements of relevant securities and self-regulatory organizations.
15.    Governing Law.  THIS AGREEMENT SHALL BE GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (WITHOUT REGARD TO THE CHOICE OF LAW PROVISIONS THEREOF).
16.    Force Majeure.  Neither Party shall be held liable for any delay or failure in performance of any part of this Agreement (other than outstanding payment obligations hereunder) from acts of God, acts of civil or military authority, embargoes, epidemics, war, terrorist acts, riots, insurrections, fires, explosions, earthquakes, nuclear accidents, floods, strikes, and power blackouts.  Upon the occurrence of a condition described in this Section 16, the Party whose performance is prevented shall give written notice to the other Party and the Parties shall promptly confer, in good faith, to agree upon equitable, reasonable action to minimize the impact, on both Parties, of such conditions.
17.    Dispute Resolution Procedures.  
(a)    Other than such disputed matters addressed by Section 4(c), if a dispute arises between the Parties with respect to the terms and conditions of this Agreement, a Party's performance of its obligations hereunder, or any matter relating to the Services ("Dispute"), the Parties agree to use and follow this dispute resolution procedure described in this Section 17 prior to initiating any judicial action.

9

(b)    Claims Procedure.  If a Party shall have a Dispute, such Party shall provide written notice to the other Party in accordance with the provisions of Section 19 of this Agreement, in the form of a claim identifying the nature of the Dispute in sufficient detail to describe the basis for the claim (a "Dispute Notice").  Upon receipt of the Dispute Notice, the other Party shall have ten (10) calendar days to provide a written response to the Dispute Notice (the "Response").  The Party providing the Dispute Notice shall have an additional five (5) calendar days following its receipt of the Response to accept the proposed resolution or to request implementation of the procedure set forth in Section 17(c) below (the "Escalation Procedure").  Failure to comply with the time limitations set forth in this Section 17 shall result in the implementation of the Escalation Procedure. 
(c)    Escalation Procedure.  At the written request of a Party involved in the Dispute and in compliance with Section 17(b), each Party shall appoint a knowledgeable senior officer to negotiate in good faith to resolve such Dispute (the "Negotiating Representatives").  The Negotiating Representatives must be empowered to decide the issues presented in any Dispute.  The Negotiating Representatives will attempt to resolve the Dispute within five (5) business days of receiving the written request.  If the Dispute cannot be resolved within that time period, then the Parties may resort to litigation in accordance with Section 9.2 of the Distribution Agreement.  During the time period of any Dispute, each Party shall continue to perform its respective obligations under this Agreement (except in the event FCPT fails to pay amounts due in accordance with Section 4 hereunder).
18.    Amendments; Waivers.  No alteration, modification or change of this Agreement, including the Services Attachment, shall be valid except by an agreement in writing executed by the Parties.  Except as otherwise expressly set forth herein, no failure or delay by any Party in exercising any right, power or privilege hereunder (and no course of dealing between or among any of the Parties) shall operate as a waiver of any such right, power or privilege.  No waiver of any default on any one occasion shall constitute a waiver of any subsequent or other default. No single or partial exercise of any such right, power or privilege shall preclude the further or full exercise thereof
19.    Notices.  All notices, demands and requests required or permitted to be given under the provisions of this Agreement shall be (i) in writing, (ii) sent by facsimile (with receipt personally confirmed by telephone), delivered by personal delivery, or sent by commercial delivery service or certified mail, return receipt requested, (iii) deemed to have been given on the date telecopied with receipt confirmed, the date of personal delivery, or the date set forth in the records of the delivery service or on the return receipt, and (iv) addressed as follows:
If to Darden or a member of the Darden Group, to:
c/o Darden Restaurants, Inc.
1000 Darden Center Drive
Orlando, Florida 32837
Attention:    Chief Executive Officer
Chief Financial Officer

with copies to:

10

Hogan Lovells US LLP
Columbia Square
555 Thirteenth Street, NW
Washington, DC 20004 
Attention:    Stuart G. Stein, Esq.
and
Skadden, Arps, Slate, Meagher & Flom LLP
4 Times Square
New York, NY 10036
Attention:    Joseph A. Coco, Esq.
Allison Land, Esq.
if to FCPT:

Four Corners Property Trust, Inc.
591 Redwood Highway
Suite 1150
Mill Valley, CA 94941
Attention:    Chief Executive Officer

or to any other or additional persons and addresses as the Parties may from time to time designate in a writing delivered in accordance with this Section 19.
20.    Assignment; Benefit and Binding Effect.  No Party may assign this Agreement without the prior written consent of each of the other Party; provided, however, Darden, without the consent of FCPT, may assign this Agreement to any Affiliate of Darden, and FCPT may, without the consent of Darden, assign this Agreement to any Affiliate of FCPT, but none of the assignments described in this sentence shall relieve the assignor of its obligations hereunder and, provided further, that any Party may make a collateral assignment of its rights hereunder for the benefit of its lenders.  This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns.  The provisions of this Agreement shall be for the exclusive benefit of the Parties (and their successors and permitted assigns) and shall not be for the benefit of any other Person.
21.    Severability.  If any provision of this Agreement or the application thereof to any Person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by Law.  Upon such determination that any term or other provision is invalid or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the greatest extent possible.  
22.    Entire Agreement.  The Distribution Agreement, this Agreement, the Schedules and Exhibits hereto and thereto, and the Transition Plan collectively represent the entire understanding and agreement of the Parties with respect to the subject matter of this Agreement.  

11

Each Party hereby represents, acknowledges and agrees that it has not relied on any representation, warranty, covenant, understanding, agreement, written or oral, discussion, or negotiation not expressly contained herein or in the Distribution Agreement in entering into this Agreement.    
23.    Captions.  The captions contained in this Agreement are for reference purposes only and are not part of this Agreement.
24.    Counterparts.  This Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.  
25.    Specific Performance.  The Parties acknowledge that monetary damages may not be an adequate remedy for violations of this Agreement and that any Party may, in its sole discretion and in addition to all other rights and remedies available in law or in equity, to the extent permitted hereunder, apply for specific performance or injunctive or other relief with a court of competent jurisdiction as such court may deem just and proper in order to enforce this Agreement or to prevent violation hereof and, to the extent permitted by applicable Law, each Party waives any objection to the imposition of such relief.
26.    Remedies Cumulative.  All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law or in equity shall, be cumulative and not alternative, and the exercise or beginning of the exercise of any right, power or remedy thereof by a Party shall not preclude the simultaneous or later exercise of any other such right, power or remedy by such Party.
27.    General Cooperation.  Subject to the terms and conditions set forth in this Agreement, Darden's obligations under this Agreement shall be conditioned on FCPT using all commercially reasonable efforts to provide information and documentation sufficient for Darden to perform the Services as they were performed prior to the date of this Agreement, and make available, as reasonably requested by Darden, sufficient resources and timely decisions, approvals and acceptances in order that Darden accomplish its obligations under this Agreement in a timely and efficient manner.
28.    Controlling Provisions.  If there is any conflict or inconsistency between the terms and conditions set forth in the main body of this Agreement and the Services Attachment, the provisions of the Services Attachment shall control with respect to the rights and obligations of the Parties regarding the Services.  If there is any conflict or inconsistency between the terms and conditions of this Agreement and the Distribution Agreement, the provisions of this Agreement shall control solely with respect to the rights and obligations of the Parties regarding the Services.
29.    No Set-Off.  The obligations under this Agreement shall not be subject to set-off for non-performance or any monetary or non-monetary claim by any Party or any of their respective Affiliates under any other agreement between the Parties or any of their respective Affiliates.
30.    Parties in Interest.  Other than Persons entitled to receive indemnification under Section 10, nothing in this Agreement, express or implied, is intended to confer on any Person other than the Parties and their respective successors and permitted assigns any rights or remedies under or by virtue of this Services Agreement.  Each FCPT Indemnified Party other than FCPT, and each Darden Indemnified Party other than Darden, is an express, third-party beneficiary of Section 11.

12

31.    Data Protection.  Each Party shall comply with its obligations under all applicable data protection laws in respect of the Services to be provided under this Agreement.  Each Party agrees in respect of any such personal data supplied to it by the other Party that it shall: (a) only act on instructions from the other Party regarding the processing of such  personal data under this Agreement and shall ensure that appropriate technical and organizational measures shall be taken against unauthorized or unlawful processing of the personal data and against accidental loss or destruction of, or damage to, the personal data; and (b) comply with any reasonable request made by the other Party to ensure compliance with the measures contained in this Section.
32.    Further Assurances.   Each Party shall perform all other acts and execute and deliver all other documents as may be necessary to secure all necessary authorizations and approvals of this Agreement by all applicable governmental bodies in the United States of America, and as otherwise may be required to give effect to the terms and conditions of this Agreement.
[Remainder of page intentionally left blank]

13

IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on its behalf on the day and year first above written.

	
		
	DARDEN RESTAURANTS, INC.

	 
	 

	 
	 

	By:
	/s/ Anthony G. Morrow

	Name:
	Anthony G. Morrow

	Title:
	Corporate Secretary

	 
	 

	 
	 

	 
	 

	FOUR CORNERS PROPERTY TRUST, INC.

	 
	 

	 
	 

	By:
	/s/ William H. Lenehan

	Name:
	William H. Lenehan

	Title:
	Chief Executive Officer

	 
	 

Signature Page to Transition Services Agreement
 
 

Exhibit 10.2

EXHIBIT 1

SERVICES ATTACHMENT

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	Information Technology Services

	1-6
	General Consultative Services
•    Provide general consultative advice and facilitate discussions with NCR on ALOHA technology used in the restaurant including:  systems setup and configuration, data management, system to system interfaces, infrastructure configuration and operations, vendor management, and reporting / analytics
	$6,000

*Note: This service fee assumes a minimum of 40 hours per month at $150 per hour – Darden will continue to charge $150/ hour for hours incurred over the 40 hour threshold, as needed 

	90 Days
	Provider:
Jordan Lomas
SVP, Infrastructure and Business Solutions

Recipient:
Carol Dilts
VP of Operations
Kerrow Holdings

 
 

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	Finance & Accounting Services

	2-1
	Finance & Accounting Consultative Services 
•    Answer questions regarding historical financial information.  Provide consultative guidance in the following areas: 
•    Advise / guide interim resource support (as applicable) 
•    Provide guidance on the SEC reporting process (i.e., 9/30 10-Q and 12/31 10-K filings)
o    Advise on potential process and approach
o    Provide historical context of Darden’s approach, as requested
o    Assist in reviewing disclosures for historical perspective
o    Advise on issue resolution 

Service Limitations
Provider is prohibited from final review and approval of SEC filings; this is the sole responsibility of the recipient 
	$6,000*

*Note: This service fee assumes a minimum of 40 hours per month at $150 per hour – Darden will continue to charge $150/ hour for hours incurred over the 40 hour threshold, as needed 

	90 Days 
 
	Provider:
John Madonna, SVP Corporate Reporting and Accounting 
Darden
 
Recipient:
Bill Lenehan, CEO
Four Corners Property Trust

	2-2
	Accounts Payable for Kerrow 
•    Maintain and update the vendor master file in Oracle
•    Administer setup of new vendors in Oracle 
•    Provide check printing (via third-party) and disbursement services for payments processed on Provider systems 
•    Key invoices for payment (at the admin level) 
	$2,750
	30 Days
	Provider
John Madonna, SVP Corporate Reporting and Accounting
Darden

Recipient:
Carol Dilts
VP of Operations
Kerrow Holdings 

	2-3
	Oracle General Ledger & Sub Ledger Maintenance
•    Maintain the Recipient general ledger and associated sub-ledgers (i.e., Accounts Payable, Accounts Receivable, and Fixed Asset) during the month-end and quarter-end financial close
•    General accounting support for Kerrow Holdings including: month-end close, revenue accounting, sub-ledger reconciliation, and financial statement production  

Service Limitations
Additions or modifications will conform to Provider’s then current hierarchy

	$16,667
	30 Days
	Provider:
John Madonna, SVP Corporate Reporting and Accounting
Darden

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

Carol Dilts
VP of Operations
Kerrow Holdings

16

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	2-4
	Property Accounting
•    Maintain and administer the Fixed Asset sub-ledger for GAAP and Tax reporting purposes during the month-end / quarter-end financial close process; Property accounting for recipient will be maintained in an excel spreadsheet
	$33,333
	30 Days
	Provider:
John Madonna, SVP Corporate Reporting and Accounting
Darden

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

	2-5
	Credit / Gift Cards & Treasury
•    Assist management with management of credit & gift card processing, including reconciliation of fees/chargebacks, bank /merchant accounts, refunds, etc.
•    Assist management in reviewing cash positions and funding requirements to support day to day operations
 
	$3,333
	30 Days
	Provider:
Bill White, SVP Treasurer
Darden

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

	2-6
	Public Filing Review
•    Review recipient’s draft SEC filings.  Filings may include 10-Q and 10-K

Service Limitations
Provider is prohibited from final review and approval of SEC filings; this is the sole responsibility of the recipient 
	$13,750
	90 Days
	Provider:
John Madonna, SVP Corporate Reporting and Accounting
Darden

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

	2-7
	Sales Tax Services
•    Assist with compilation of data necessary to file sales tax returns for Kerrow Restaurants, LLC and FCPT LLCs for initial sales tax filings due December 20, 2015
•    Review of initial monthly sales tax filings 

Service Limitations:
Provider is prohibited from final review and signing  of the sales tax filings made with the relevant jurisdictions
	$3,500
	90 Days
	Provider:
Angela Simmons, VP of Tax, Darden

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

17

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	Human Resources Services

	3-6
	General Consultative HR Services 
•    General consultative advice for HR inquiries from FCPT / Kerrow Leadership and Darden Leadership; consulting advice is limited to the following areas: 
o    Benefits Strategy 
o    Compensation Strategy
o    Performance Management
o    Employee Relations
o    Training & Development
o    Stock Comp Admin
o    Payroll / Withholdings
	$6,000

*Note: This service fee assumes a minimum of 40 hours per month at $150 per hour – Darden will continue to charge $150/ hour for hours incurred over the 40 hour threshold, as needed 

	90 Days
	Provider:
Randy Babitt, Senior Director Payroll & Employee Services

Recipient:
Bill Lenehan, CEO
Four Corners Property Trust 

Carol Dilts
VP of Operations
Kerrow Holdings

18

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	Development and Licensing Services

	4-1
	Licensing Consultative Services 
•    Answer questions related to Kerrow Restaurants regarding new liquor license.  If permanent licenses have not been issued at the time of close, provide consultative advice on exiting temporary liquor licenses and obtaining permanent liquor licenses 
•    Licensing consultative advice is limited to the following areas:
o    Post-closing liquor license disclosure requirements (officer changes and change in ownership)
o    Required health and other operational permits 
o    Assist in selection of and transitional coordination with Texas liquor counsel who can assist with:
§    Permit and licensing renewal process
§    Department of Health issues
§    Texas liquor regulations
§    Liquor payment regulations 
	$3,000*

*Note: This service fee assumes a minimum of 20 hours per month at $150 per hour – Darden will continue to charge $150/ hour for hours incurred over the 20 hour threshold, as needed 

	30 Days 
 
	Provider:
Colleen Hunter, Director Licensing
Darden
 
Recipient:
Carol Dilts
VP of Operations
Kerrow Holdings 

19

	
							
	 
	Transition Services Agreement
Schedule A
	 

	ID
	Description of Service
	Monthly Service Fee
	Term of Service
	Contact

	
					
	Supply Chain

	5-1
	Inventory Purchasing Services
•    Provide continued access to Darden's inventory for relevant purchase orders (i.e., approved menu items) provided via the Maines relationship.  Maines will continue to provide replenishment / fulfillment services for this inventory
•    Darden to invoice Kerrow Restaurants directly for product costs
	Product cost + $01 for overhead / administrative cost
	 180 Days 
 
	Provider:
Jim Thomas – Darden Supply Chain Leadership 
 
Recipient:
Carol Dilts
VP of Operations
Kerrow Holdings 

		
	1.
	Administrative overhead cost is offset by rebates generated from volume commitment, which would not be granted to Kerrow Restaurants.

20

Exhibit 10.2

EXHIBIT 2

SERVICES TERMINATION REQUEST FORM

	
	
	Service Termination Request Form

	
		
	Requesting Company:
	 

	Date of Request:
	 

	Completed By:
	 

	Service to be Changed:
	 

                                                                                                                                                                                                                       
Requested Service Termination
	
						
	Item #
	Service
	Service Provider
(Company)
	Service Recipient 
(Company)
	Estimated Cost
	Requested Termination Date

	1
	 
	 
	 
	 
	 

	2
	 
	 
	 
	 
	 

	3
	 
	 
	 
	 
	 

	4
	 
	 
	 
	 
	 

	5
	 
	 
	 
	 
	 

	6
	 
	 
	 
	 
	 

	
		
	Acknowledgements

	FOUR CORNERS PROPERTY TRUST, INC., by
	DARDEN RESTAURANTS, INC., by

	Χ      
	Χ      

	Name:
	Name:

	Title:
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]