Document:

QC Holdings, Inc. Executive Non-qualified Excess Plan Adoption Agreement

 Exhibit 10.2 
  

					
	 

	  	 Principal Life Insurance Company
 Raleigh, NC
27612
 1-800-999-4031
 A member of the Principal Financial Group®
	  	 THE EXECUTIVE
 NONQUALIFIED “EXCESS” PLANSM

 ADOPTION AGREEMENT 
 THIS AGREEMENT is the adoption by QC Holdings, Inc. (the “Employer”) of the Executive Nonqualified Excess Plan (“Plan”).

 WITNESSETH: 
 WHEREAS,
the Employer desires to adopt the Plan as an unfunded, nonqualified deferred compensation plan; and 
 WHEREAS, the provisions of the Plan
are intended to comply with the requirements of Section 409A of the Code and the regulations thereunder, and shall apply to amounts deferred after January 1, 2005, and to amounts deferred under the terms of any predecessor plan which are
not earned and vested before January 1, 2005; and 
 WHEREAS, the Employer has been advised by Principal Life Insurance Company to
obtain legal and tax advice from its professional advisors before adopting the Plan, and Principal Life Insurance Company disclaims all liability for the legal and tax consequences which result from the elections made by the Employer in this
Adoption Agreement; 
 NOW, THEREFORE, the Employer hereby adopts the Plan in accordance with the terms and conditions set forth in this
Adoption Agreement: 
 ARTICLE I 
 Terms used in this Adoption Agreement shall have the same meaning as in the Plan, unless some other meaning is expressly herein set forth. The Employer hereby represents and warrants that the Plan has been adopted by the Employer upon
proper authorization and the Employer hereby elects to adopt the Plan for the benefit of its Participants as referred to in the Plan. By the execution of this Adoption Agreement, the Employer hereby agrees to be bound by the terms of the Plan.

 ARTICLE II 
 The Employer hereby makes the following designations or elections for the purpose of the Plan: 
 2.6 Committee: The duties of the Committee
set forth in the Plan shall be satisfied by: 
  

					
	 ___
	  	(a)	  	The administrative committee of at least three individuals appointed by the Board to serve at the pleasure of the Board.
		  		  	
	 XX
	  	(b)	  	Employer.
		  		  	
	 ___
	  	(c)	  	Other (specify):

 2.7 Compensation: The “Compensation” of a Participant shall mean all of a Participant’s:

  

					
	 XX
	  	(a)	  	Base salary.
			
	 XX
	  	(b)	  	Service Bonus.
			
	 XX
	  	(c)	  	Performance-Based Compensation earned in a period of 12 months or more.
			
	 ___
	  	(d)	  	Commissions.
			
	 XX
	  	(e)	  	Compensation received as an Independent Contractor reportable on Form 1099.
			
	 ___
	  	(f)	  	Employer Contributions Only.

 2.8 Crediting Date: The Deferred Compensation Account of a Participant shall be credited with the amount of
any Participant Deferral to such account at the time designated below: 
  

					
	 ___
	  	(a)	  	The last business day of each Plan Year.
			
	 ___
	  	(b)	  	The last business day of each calendar quarter during the Plan Year.
			
	 ___
	  	(c)	  	The last business day of each month during the Plan Year.
			
	 ___
	  	(d)	  	The last business day of each payroll period during the Plan Year.
			
	 ___
	  	(e)	  	Each pay day as reported by the Employer.
			
	 XX
	  	(f)	  	Any business day on which the Participant Deferral is received by the
			
		  		  	Provider.
			
	 ___
	  	(g)	  	Other: ______________________________________________.

  

 2 

 2.12 Effective Date: 
  

					
	 XX
	  	(a)	  	This is a newly-established Plan, and the Effective Date of the Plan is May 1st, 2007.
			
	 ___
	  	(b)	  	This is an amendment and restatement of a plan named
		  		  	_______________________________ with an effective date of ____________.
		  		  	The Effective Date of this amended and restated Plan is _____________.
		  		  	This is amendment number ___.

 2.18 Normal Retirement Age: The Normal Retirement Age of a Participant shall be: 
  

					
	 ___
	  	(a)	  	Age ___.
			
	 XX
	  	(b)	  	The later of age 55 or the 10th anniversary of the participation commencement date. The participation commencement date is the first day of the first Plan Year in which the
Participant commenced participation in the Plan.
			
	 ___
	  	(c)	  	Other: _______________________________________________.

 2.22 Participating Employer(s): As of the Effective Date, the following Participating Employer(s) are
parties to the Plan: 
  

							
	 Name of Employer
	  	 Address
	  	Telephone No.	  	EIN
	 QC Holdings, Inc.
	  	 9401 Indian Creek Parkway,
 Suite 1500
	  	(913) 234-5000	  	43-1326315
				
		  	Overland Park, KS 66210	  		  	
	 QC Financial Services of California, Inc.
	  	 9401 Indian Creek Parkway,
 Suite 1500
	  	(913) 234-5000	  	74-2930338
				
		  	Overland Park, KS 66210	  		  	
	 QC Financial Services of Texas, Inc.
	  	 9401 Indian Creek Parkway,
 Suite 1500
	  	(913) 234-5000	  	20-3412650
				
		  	Overland Park, KS 66210	  		  	
	 Express Check Advance of South
 Carolina LLC
	  	 9401 Indian Creek Parkway,
 Suite 1500
	  	(913) 234-5000	  	62-1870097
				
		  	Overland Park, KS 66210	  		  	

  

 3 

 2.24 Plan: The name of the Plan as applied to the Employer is 
 The Executive Nonqualified Excess Plan of QC Holdings, Inc. 
 2.25 Plan Administrator: The Plan Administrator shall be: 
  

					
	 ___
	  	(a)	  	Committee.
			
	 XX
	  	(b)	  	Employer.
			
	 ___
	  	(c)	  	Other: _________________________________________________.

 2.27 Plan Year: The Plan Year shall end each year on the last day of the month of December. 
 2.35 Trust: 
  

					
	 XX
	  	(a)	  	The Employer does desire to establish a “rabbi” trust for the purpose of setting aside assets of the Employer contributed thereto for the payment of benefits under the
Plan.
			
	 ___
	  	(b)	  	The Employer does not desire to establish a “rabbi” trust for the purpose of setting aside assets of the Employer contributed thereto for the payment of benefits under the
Plan.
			
	 ___
	  	(c)	  	The Employer desires to establish a “rabbi” trust for the purpose of setting aside assets of the Employer contributed thereto for the payment of benefits under the Plan upon the
occurrence of a Change in Control.

  

 4 

 4.1 Participant Deferral Credits: Subject to the limitations in Section 4.1 of the Plan, a Participant may
elect to have his Compensation (as selected in Section 2.7 of this Adoption Agreement) deferred within the annual limits below by the following percentage or amount as designated in writing to the Committee: 
  

							
	 XX
	  	(a)	  	Base salary:
				
		  		  		  	maximum deferral: $             or 100%
			
	 XX
	  	(b)	  	Service Bonus:
				
		  		  		  	maximum deferral: $             or 100%
			
	 XX
	  	(c)	  	Performance-Based Compensation:
				
		  		  		  	maximum deferral: $             or 100%
			
	 XX
	  	(d)	  	Compensation received as an Independent Contractor reportable on Form 1099:
				
		  		  		  	maximum deferral: $             or 100%
			
	 ___
	  	(e)	  	Participant deferrals not allowed.

  

 5 

 4.2 Employer Credits: The Employer will make Employer Credits in the following manner: 
  

									
	 XX
	  	(a) Employer Discretionary Credits: The Employer may make discretionary credits to the Deferred Compensation Account of each Participant in an amount determined as
follows:
				
		  	XX	  	(i)	 	An amount determined each Plan Year by the Employer.
				
		  	 ___
	  	 (ii)
	 	Other:
                                        
                                        
                    .
		
	 XX
	  	(b) Employer Profit Sharing Credits: The Employer may make profit sharing credits to the Deferred Compensation Account of each Participant in an amount determined as
follows:
				
		  	XX	  	(i)	 	An amount determined each Plan Year by the Employer.
				
		  	___	  	(ii)	 	Other:
                                        
                                        
                    .
			
	 ___
	  	(c)	  	Other:
                                        
                                        
                                        
                    .
			
	 ___
	  	(d)	  	Employer Credits not allowed.

 5.3 Death of a Participant: If the Participant dies while in Service, the Employer shall pay a benefit to
the Beneficiary in an amount equal to the vested balance in the Deferred Compensation Account of the Participant determined as of the date payments to the Beneficiary commence, plus: 
  

					
	 ___
	  	(a)	 	An amount to be determined by the Committee.
			
	 ___
	  	(b)	 	Other:
                                        
                                        
                                       
 .
			
	 XX
	  	(c)	 	No additional benefits.

  

 6 

 5.4 In-Service Distributions: In-service accounts are permitted under the Plan: 
  

							
	 XX
	 	(a)	  	Yes, with respect to:
				
		 		  	___	 	Participant Deferral Credits only.
				
		 		  	___	 	Employer Credits only.
				
		 		  	XX	 	Participant Deferral and Employer Credits.
			
		 		  	In-service distributions may be made in the following manner:
				
		 		  	XX	 	Single lump sum payment.
				
		 		  	XX	 	Annual installment payments over no more than 4 years.
			
		 		  	If applicable, amounts not vested at the specified time of distribution will be:
				
		 		  	___	 	Forfeited
				
		 		  	XX	 	Distributed annually when vested
			
	 ___
	 	(b)	  	No in-service distributions permitted.

 5.5 Education Distributions: Education accounts are permitted under the Plan: 
  

							
	 XX
	 	(a)	  	Yes, with respect to:
				
		 		  	___	 	Participant Deferral Credits only.
				
		 		  	___	 	Employer Credits only.
				
		 		  	XX	 	Participant Deferral and Employer Credits.
			
		 		  	Education distributions may be made in the following manner:
				
		 		  	XX	 	Single lump sum payment.
				
		 		  	XX	 	Annual installment payments over no more than 4 years.
			
		 		  	If applicable, amounts not vested at the specified time of distribution will be:
				
		 		  	___	 	Forfeited
				
		 		  	XX	 	Distributed annually when vested
			
	 ___
	 	(b)	  	No education distributions permitted.

 5.6 Change in Control: Participant may elect to receive distributions under the Plan upon a Change in
Control: 
  

					
	 XX
	 	(a)	  	Yes, Participants may elect upon initial enrollment to have accounts distributed upon a Change in Control.
			
	 ___
	 	(b)	  	Participants may not elect to have accounts distributed upon a Change in Control.

  

 7 

 6.1 Payment Options: Any benefit payable under the Plan upon a Qualifying Distribution Event may be made to the
Participant or his Beneficiary (as applicable) in any of the following payment forms, as selected by the Participant in the Participant Deferral Agreement: 
  

					
	 1.
	 	Separation from Service other than Retirement (Retirement is defined by the Employer)
			
	 XX
	 	(a)	 	A lump sum in cash as soon as practicable following the date of the Qualifying Distribution Event.
			
	 ___
	 	(b)	 	Approximately equal annual installments over a term certain as elected by the Participant upon his entry into the Plan not to exceed      years.
			
	 ___
	 	(c)	 	Other:
                                        
                                        
                    .
		
	 2.
	 	Separation from Service due to Retirement
			
	 XX
	 	(a)	 	A lump sum in cash as soon as practicable following the date of the Qualifying Distribution Event.
			
	 XX
	 	(b)	 	Approximately equal annual installments over a term certain as elected by the Participant upon his entry into the Plan not to exceed 10 years.
			
	 ___
	 	(c)	 	Other:
                                        
                                        
                    .
		
	 3.
	 	Death
			
	 XX
	 	(a)	 	A lump sum in cash upon the date of the Qualifying Distribution Event.
			
	 ___
	 	(b)	 	Approximately equal annual installments over a term certain as elected by the Participant upon his entry into the Plan not to exceed      years.
			
	 ___
	 	(c)	 	Other:
                                        
                                        
                    .

  

 8 

 4. Disability 
  

					
	 XX
	  	(a)	  	A lump sum in cash upon the date of the Qualifying Distribution Event.
			
	 ___
	  	(b)	  	Approximately equal annual installments over a term certain as elected by the Participant upon his entry into the Plan not to exceed ___ years.
			
	 ___
	  	(c)	  	Other: _______________________________________________.

 5. Change in Control 
  

					
	 XX
	  	(a)	  	A lump sum in cash upon the date of the Qualifying Distribution Event.
			
		  		  	
			
	 ___
	  	(b)	  	Approximately equal annual installments over a term certain as elected by the Participant upon his entry into the Plan not to exceed _____ years.
			
	 ___
	  	(c)	  	Other: _______________________________________________.
			
	 ___
	  	(d)	  	Not applicable (if not permitted in 5.6)

 6.2 De Minimis Amounts. Notwithstanding any payment election made by the Participant, the
vested balance in the Deferred Compensation Account of the Participant will be distributed in a single lump sum payment if the payment accompanies the termination of the Participant’s entire interest in the Plan and the amount of such payment
does not exceed $10,000. 
  

 9 

 7. Vesting: An Active Participant shall be fully vested in the Employer Credits made to the
Deferred Compensation Account upon the first to occur of the following events: 
  

					
	 XX
	  	(a)	  	Normal Retirement Age.
			
	 XX
	  	(b)	  	Death.
			
	 XX
	  	(c)	  	Disability.
			
	 XX
	  	(d)	  	Change in Control
			
	 ___
	  	(e)	  	Other:
			
	 XX
	  	(f)	  	Satisfaction of the vesting requirement specified below:

  

																					
					
		  		  	___	  	Employer Discretionary Credits: (Corporate Discretionary)	  	
								
		  		  		  	 ___
	  	(i)	  	Immediate 100% vesting.	  		  	
									
		  		  		  	 ___
	  	(ii)	  	100% vesting after      Years of Service.	  		  		  	
											
		  		  		  	 XX
	  	(iii)	  	To Be Determined	  		  		  		  		  	
											
		  		  		  	 ___
	  	(iv)	  	 Number of Years
     of
Service    
	  	     Vested    
 Percentage
	  		  		  		  	
		  		  		  		  		  	Less than   1	  	    %	  	  	  	  
		  		  		  		  		  	                  1	  	    %	  		  		  		  	
		  		  		  		  		  	                  2	  	    %	  		  		  		  	
		  		  		  		  		  	                  3	  	    %	  		  		  		  	
		  		  		  		  		  	                  4	  	    %	  		  		  		  	
		  		  		  		  		  	                  5	  	    %	  		  		  		  	
		  		  		  		  		  	                  6	  	    %	  		  		  		  	
		  		  		  		  		  	                  7	  	    %	  		  		  		  	
		  		  		  		  		  	                  8	  	    %	  		  		  		  	
		  		  		  		  		  	                  9	  	    %	  		  		  		  	
		  		  		  		  		  	                  10 or more	  	    %	  		  		  		  	
		  		  		  		  		  		  		  		  		  		  	

  

															
		  		  		  		  	 For this purpose, Years of Service of a Participant shall be calculated from the date designated below:

							
		  		  		  		  	 ___
	  	(1)	  	First Day of Service.
							
		  		  		  		  	 ___
	  	(2)	  	Effective Date of the Plan Participation.
							
		  		  		  		  	 ___
	  	(3)	  	Each Crediting Date. Under this option (3), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer
Discretionary Credit is made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all Employer Discretionary Credits to the Deferred Compensation Account shall be 100% vested upon the following event(s):
______________________.

  

 10 

																					
					
		  		  	XX	  	Employer Profit Sharing Credits: (Match Continuation)	  	
								
		  		  		  	 ___
	  	(i)	  	Immediate 100% vesting.	  		  	
									
		  		  		  	 ___
	  	(ii)	  	100% vesting after      Years of Service.	  		  		  	
									
		  		  		  	 ___
	  	(iii)	  	100% vesting at age     .	  		  		  	
											
		  		  		  	 XX
	  	(iv)	  	 Number of Years
     of
Service    
	  	     Vested    
 Percentage
	  		  		  		  	
		  		  		  		  		  	Less than   1	  		  	  	  	  
		  		  		  		  		  	                  1	  	  0%	  		  		  		  	
		  		  		  		  		  	                  2	  	  0%	  		  		  		  	
		  		  		  		  		  	                  3	  	20%	  		  		  		  	
		  		  		  		  		  	                  4	  	40%	  		  		  		  	
		  		  		  		  		  	                  5	  	60%	  		  		  		  	
		  		  		  		  		  	                  6	  	80%	  		  		  		  	
		  		  		  		  		  	                  7	  	100%	  		  		  		  	
		  		  		  		  		  	                  8	  	    %	  		  		  		  	
		  		  		  		  		  	                  9	  	    %	  		  		  		  	
		  		  		  		  		  	                  10 or more	  	    %	  		  		  		  	
		  		  		  		  		  		  		  		  		  		  	

  

															
		  		  		  		  	 For this purpose, Years of Service of a Participant shall be calculated from the date designated below:

							
		  		  		  		  	 XX
	  	(1)	  	First Day of Service.
							
		  		  		  		  	 ___
	  	(2)	  	Effective Date of the Plan Participation.
							
		  		  		  		  	 ___
	  	(3)	  	Each Crediting Date. Under this option (3), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Profit
Sharing Credit is made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all Employer Profit Sharing Credits to the Deferred Compensation Account shall be 100% vested upon the following event(s):
______________________.

  

 11 

																					
					
		  		  	___	  	Other Employer Credits:	  	
								
		  		  		  	 ___
	  	(i)	  	Immediate 100% vesting.	  		  	
									
		  		  		  	 ___
	  	(ii)	  	100% vesting after      Years of Service.	  		  		  	
									
		  		  		  	 ___
	  	(iii)	  	100% vesting at age     .	  		  		  	
											
		  		  		  	 ___
	  	(iv)	  	 Number of Years
     of
Service    
	  	     Vested    
 Percentage
	  		  		  		  	
		  		  		  		  		  	Less than   1	  	    %	  	  	  	  
		  		  		  		  		  	                  1	  	    %	  		  		  		  	
		  		  		  		  		  	                  2	  	    %	  		  		  		  	
		  		  		  		  		  	                  3	  	    %	  		  		  		  	
		  		  		  		  		  	                  4	  	    %	  		  		  		  	
		  		  		  		  		  	                  5	  	    %	  		  		  		  	
		  		  		  		  		  	                  6	  	    %	  		  		  		  	
		  		  		  		  		  	                  7	  	    %	  		  		  		  	
		  		  		  		  		  	                  8	  	    %	  		  		  		  	
		  		  		  		  		  	                  9	  	    %	  		  		  		  	
		  		  		  		  		  	                  10 or more	  	    %	  		  		  		  	
		  		  		  		  		  		  		  		  		  		  	

  

															
		  		  		  		  	 For this purpose, Years of Service of a Participant shall be calculated from the date designated below:

							
		  		  		  		  	 ___
	  	(1)	  	First Day of Service.
							
		  		  		  		  	 ___
	  	(2)	  	Effective Date of the Plan Participation.
							
		  		  		  		  	 ___
	  	(3)	  	Each Crediting Date. Under this option (3), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Credit is
made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all other Employer Credits to the Deferred Compensation Account shall be 100% vested upon the following event(s):
______________________.

 14. Amendment and Termination of Plan: Notwithstanding any provision in this Adoption
Agreement or the Plan to the contrary, Section _____ of the Plan shall be amended to read as provided in attached Exhibit ____. 
  

			
	 XX
	  	There are no amendments to the Plan.

  

 12 

 17.9 Construction: The provisions of the Plan and Trust (if any) shall be construed and enforced
according to the laws of the State of Kansas, except to the extent that such laws are superseded by ERISA and the applicable provisions of the Code. 
 IN WITNESS WHEREOF, this Agreement has been executed as of the day and year stated below. 
  

			
	 QC Holdings, Inc.

	 Name of Employer

		
	 By:
	 	  

		 	Authorized Person
	Date:	 	  

 NOTE: Execution of this Adoption Agreement creates a legal liability of the Employer with significant tax
consequences to the Employer and Participants. The Employer should obtain legal and tax advice from its professional advisors before adopting the Plan. Principal Life Insurance Company disclaims all liability for the legal and tax consequences which
result from the elections made by the Employer in this Adoption Agreement. 
  

 13Waiver

 Exhibit 10.1 
 WAIVER 
 This WAIVER (this “Waiver”) is entered into as of May 4,
2007, by and among BUCA, Inc., a Minnesota corporation, and certain of its subsidiaries (each individually a “Borrower”, and individually and collectively, jointly and severally, the “Borrowers”), the lenders
identified on the signature pages hereof (such lenders, together with their respective successors and permitted assigns, are referred to hereafter each individually as a “Lender” and collectively as the “Lenders”),
and Wells Fargo Foothill, Inc., a California corporation, as the arranger and administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”; and together with each of the
Lenders the “Lender Group”), with reference to the following: 
 WHEREAS, Borrowers and the Lender Group have entered
into that certain Credit Agreement, dated as of November 15, 2004 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain loans and
financial accommodations available to Borrowers; 
 WHEREAS, Borrowers have requested that the Lender Group waive the Event of Default
that has occurred as a result of Borrowers failure to meet the minimum EBITDA requirement set forth in Section 6.16(a)(i) of the Credit Agreement for the twelve month period ending on April 1, 2007 (the “Designated Event of
Default”); and 
 WHEREAS, subject to the terms and conditions set forth herein, the Lender Group is willing to grant the
waiver requested by the Borrowers. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Defined Terms. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement, as modified hereby. 
 2. Waiver. Agent and the Lenders hereby waive the Designated Event of Default. The foregoing waiver shall be effective only for the specific
default comprising the Designated Event of Default, and in no event shall this waiver be deemed to be a waiver of enforcement of any of Agent’s or Lenders’ rights with respect to any other Defaults or Events of Default now existing or
hereafter arising. Nothing contained in this Amendment nor any communications between any Borrower or any Guarantor and Agent or any Lender shall be a waiver of any rights or remedies that Agent or any Lender has or may have against any Borrower or
any Guarantor, except as specifically provided herein. Except as specifically provided herein, Agent and each Lender hereby reserves and preserves all of its rights and remedies against each Borrower and each Guarantor under the Credit Agreement and
the other Loan Documents. 
 3. Conditions Precedent to Waiver. The satisfaction of each of the following shall constitute conditions
precedent to the effectiveness of this Waiver and each and every provision hereof: 

 (a) Agent shall have received this Waiver, duly executed by the parties hereto, and the same shall be in
full force and effect. 
 (b) Agent shall have received a fee of $25,000, which fee shall be fully earned on the date hereof, shall be due
and payable in full in cash on the date hereof, and shall be non-refundable when paid. 
 (c) Agent shall have received a reaffirmation and
consent substantially in the form attached hereto as Exhibit A, duly executed and delivered by each Guarantor. 
 (d) The
representations and warranties herein and in the Credit Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such
representations and warranties relate solely to an earlier date). 
 (e) No Default or Event of Default shall have occurred and be continuing
on the date hereof, nor shall result from the consummation of the transactions contemplated herein. 
 (f) No injunction, writ, restraining
order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against Borrowers, Parent, any member of the
Lender Group. 
 4. Representations and Warranties. Each Borrower represents and warrants to the Lender Group that (a) the
execution, delivery, and performance of this Waiver and of the Credit Agreement, as modified hereby, (i) are within its powers, (ii) have been duly authorized by all necessary action, and (iii) are not in contravention of any law,
rule, or regulation applicable to it, or any order, judgment, decree, writ, injunction, or award of any arbitrator, court, or Governmental Authority, or of the terms of its Governing Documents, or of any contract or undertaking to which it is a
party or by which any of its properties may be bound or affected; (b) this Waiver and the Credit Agreement are legal, valid and binding obligations of such Borrower, enforceable against such Borrower in accordance with their respective terms;
and (c) after giving effect to this Waiver, no Default or Event of Default has occurred and is continuing on the date hereof or as of the date upon which the conditions precedent set forth herein are satisfied. 
 5. Choice of Law. The validity of this Waiver, its construction, interpretation and enforcement, the rights of the parties hereunder, shall be
determined under, governed by, and construed in accordance with the laws of the State of New York. 
 6. Counterpart Execution. This
Waiver may be executed in any number of counterparts, all of which when taken together shall constitute one and the same instrument, and any of the parties hereto may execute this Waiver by signing any such counterpart. Delivery of an executed
counterpart of this Waiver by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Waiver. Any party delivering an executed counterpart of this Waiver by telefacsimile or electronic
mail also shall deliver an original executed counterpart of this Waiver, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Waiver. 
  

 2 

 7. Effect on Loan Documents. 
 (a) The Credit Agreement, as modified hereby, and each of the other Loan Documents shall be and remain in full force and effect in accordance with their
respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Waiver shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of
Agent or any Lender under the Credit Agreement or any other Loan Document. Any waivers and modifications herein are limited to the specifics hereof, shall not apply with respect to any facts or occurrences other than those on which the same are
based, shall not excuse future non-compliance with the Loan Documents, and shall not operate as a waiver to any further or other matter under the Loan Documents. 
 (b) Upon and after the effectiveness of this Waiver, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import
referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Credit Agreement, shall
mean and be a reference to the Credit Agreement as modified hereby. 
 (c) To the extent that any terms and conditions in any of the Loan
Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Waiver, such terms and conditions are hereby deemed modified accordingly to reflect the terms and conditions of the Credit
Agreement as modified hereby. 
 (d) This Waiver is a Loan Document. 
 8. Entire Agreement. This Waiver embodies the entire understanding and agreement between the parties hereto with respect to the subject matter
hereof and supersedes any and all prior or contemporaneous agreements or understandings with respect to the subject matter hereof, whether express or implied, oral or written. 
 [signature pages follow] 
  

 3 

 IN WITNESS WHEREOF, the parties have entered into this Waiver as of the date first above written.

  

			
	
	 BUCA, INC.,
 a Minnesota
corporation

	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	General Counsel
		 	 
	
	 BUCA RESTAURANTS, INC.,
 a
Minnesota corporation

		
	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	Secretary
		 	 
	
	 BUCA TEXAS RESTAURANTS, L.P.,
 a
Texas limited partnership

	
	By: Buca Restaurants, Inc., its general partner
		
	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	Secretary
		 	 
	
	 BUCA (KANSAS), INC.,
 a Kansas
corporation

		
	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	Secretary
		 	 
	
	 BUCA RESTAURANTS 2, INC.,
 a
Minnesota corporation

		
	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	Secretary
		 	 

			
	 BUCA (MINNEAPOLIS), INC.,
 a
Minnesota corporation

		
	By:	 	/s/ Richard G. Erstad
		 	 
	Name: 	 	Richard G. Erstad
		 	 
	Title:	 	Secretary
		 	 

			
	 WELLS FARGO FOOTHILL, INC.,
 a
California corporation, as Agent and a Lender

		
	By:	 	/s/ Dena Seki
		 	 
	Name: 	 	Dena Seki
		 	 
	Title:	 	Vice President

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