Document:

Employment Agreement

 Exhibit 10.27 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement
(“Agreement”), is made on March 5th, 2012 to be is effective as of January 4, 2012,
(“Effective Date”), and is between Thomas G. Dritsas (“Employee”) and Center Cut Hospitality, Inc. (the “Company”) (collectively,
“Parties”). 
 In consideration of the respective agreements and covenants set forth in this
Agreement, the receipt of which is hereby acknowledged, the parties intending to be legally bound agree as follows: 

AGREEMENTS 
 1. Employment Period. The Company agrees to employ Employee, and Employee agrees to be employed by the Company, for a period (the “Employment Period”) commencing on the
Effective Date and ending on the third anniversary of such date, unless earlier terminated in accordance with Section 3, if party provides ninety (90) days written notice to the other party that it or he intends for this Agreement
to terminate on such first anniversary. If no such notice is given, then this Agreement shall continue for successive one year terms (each a “Renewal Term”), unless earlier terminated in accordance with Section 3, until
either party provides ninety (90) days written notice to the other party that it or he intends for this Agreement to terminate at the end of any such one year period. In the event that this Agreement is continued for one or more Renewal Terms,
such additional Renewal Term(s) shall be included in the term Employment Period. If the Company provides notice of termination under this Section 1, the Company has the right to terminate Employee’s employment and relieve him of his
duties under Section 2 immediately upon notice or at any time during the 90-day notice period and the Company’s sole obligations to Employee thereafter shall be those set forth in Section 4(b) of this Agreement.

 2. Terms of Employment. 
 (a) Position and Duties. 
 (1) During Employment Period, Employee shall
serve as Corporate Executive Chef and, in so doing, shall perform the normal duties associated with such position and such other duties as may be assigned from time to time by Employee’s Supervisor or the Company’s executive
management. 
 (2) During the Employment Period, Employee agrees to devote his full working time to the business and affairs of
the Company and to use his best efforts to perform faithfully, effectively and efficiently his duties. Employee covenants, warrants and represents that he shall: (i) devote his full and best efforts to the fulfillment of employment obligations;
(ii) exercise the highest degree of fiduciary loyalty and care and the highest standards of conduct in the performance of his duties; (iii) endeavor to prevent any harm, in any way, to the business or reputation of the Company or its
affiliates; and (iv) not engaged in any other business activity of any kind without the advance written consent of the Company, including any passive investments other than the ownership of publicly traded stock in an amount not to exceed three
percent of the issued and outstanding stock of the company. 

  
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 (3) In keeping with Employee’s fiduciary duties to the Company, Employee agrees that
he shall not, directly or indirectly, become involved in any conflict of interest, or upon discovery thereof, allow such a conflict to continue. Employee agrees that he shall promptly disclose to the Company any facts which might involve any
reasonable possibility of a conflict of interest. Employee further agrees that he shall abide by the Company’s Code of Ethics, as may be amended from time to time. During the Employment Period, Employee shall not engage in any activities in
competition with the Company or its affiliates or participate in any business, either as an employee, officer, director, shareholder or contractor, in competition with the Company or its affiliates. Further, during the Employment Period, Employee
agrees not to engage in any other business or profession, directly or indirectly, without the prior written approval of the Company, including any passive investments other than the ownership of publicly traded stock in an amount not to exceed three
percent of the issued and outstanding stock of the company. 
 (4) Employee agrees to observe and comply with the
Company’s policies, practices, and procedures, as adopted or amended from time to time. 
 (b) Compensation.

 (1) Base Salary. During the Employment Period, Employee shall receive an annualized base salary (“Base
Salary”), which shall be paid in accordance with the customary payroll practices of the Company, in an amount equal to $198,000. 
 (2) Incentive Bonus. Employee is eligible to participate in all bonus compensation plans and stock plans which, by their terms are specifically applicable to Corporate Executive Chef. Such
participation shall be in accordance with the plan terms 
 (3) Welfare Benefit Plans. During the Employment Period, and
subject to the terms and conditions of applicable plans or programs, Employee and/or Employee’s family, as the case may be, shall be eligible for participation in and shall receive all benefits under the welfare benefit plans, practices,
policies and programs applicable generally to other employees of the Company as adopted or amended from time to time. 
 (4)
Business Expenses. During the Employment Period, Employee shall be entitled to receive prompt reimbursement for all reasonable business-related expenses incurred by Employee in accordance with the Company’s policies, practices and
procedures, as adopted or amended from time to time. 
 (5) Vacation. During the Employment Period, Employee shall be
entitled to paid vacation in accordance with the Company’s vacation pay policy, as adopted or amended from time to time. 

  
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 6. Confidential Information. 

(a) Employee acknowledges that the Company has trade, business and financial secrets and other confidential and proprietary information
(collectively, the “Confidential Information”). Confidential information includes, but is not limited to, sales materials, marketing objectives, and strategies, financial information, strategic information, business plans, recipes,
procedures, and information concerning customers or venders. As defined herein, Confidential Information shall not include information that is generally known to other persons or entities who can obtain economic value from its disclosure or use.

 (b) Employee acknowledges that the Confidential Information has been developed or acquired by the Company through the
expenditure of substantial time, effort and money and provides the Company with an advantage over competitors who do not know or use such Confidential Information. 
 (c) All records, files, documents and materials, or copies thereof, relating to the Company’s and its affiliates’ business which Employee shall prepare, or use, or be provided with as a result
of his employment with the Company, shall be and remain the sole property of the Company or its affiliates, as the case may be, and shall be returned promptly by Employee to the owner upon termination of Employee’s employment with the Company.

 7. Non-Disclosure 
 (a) During the Employment Period, the Company shall provide Employee with Confidential Information of the Company as described in Section 6. Accordingly, in consideration for the
Company’s commitment to provide Confidential Information to Employee and, in the case of Employee’s termination without Cause in consideration for the payments specified in Section 4(b), and in order to protect the value of the
Confidential Information to the Company, Employee agrees that during his employment with the Company and at all times thereafter, he will not directly or indirectly disclose or use or disclose for any reason whatsoever any Confidential Information
obtained by reason of his employment with the Company or any predecessor, except (i) as required to conduct the business of the Company during Employee’s employment; (ii) as authorized in writing by the Company; (iii) in
connection with an arbitration brought relating to this Agreement; or (iv) as compelled by legal process. Employee agrees to use reasonable efforts to give the Company notice of any and all attempts to compel disclosure of any Confidential
Information, in such a manner so as to provide the Company with written notice at least five (5) days before disclosure or within one (1) business day after Employee is informed that such disclosure is being or will be compelled, whichever
is earlier. Such written notice shall include a description of the information to be disclosed, the court, government agency, or other forum through which the disclosure is sought, and the date by which the information is to be disclosed, and shall
contain a copy of the subpoena, order or other process used to compel disclosure. 
 (b) The obligations of Employee set forth
in the preceding sentence are in addition to, and not in lieu of, the any obligations Employee may have under applicable common or statutory law. 

  
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 8. Non-Competition; Non-Solicitation. 

(a) Employee acknowledges and agrees that the nature of the Confidential Information which the Company commits to provide him during his
employment by the Company would make it difficult, if not impossible, for him to perform in a similar capacity for a Competing Business (as defined below) without disclosing or utilizing the Confidential Information. Employee further acknowledges
and agrees that the Company’s business is conducted in a highly competitive market. Accordingly, Employee agrees that he will not (other than for the benefit of the Company pursuant to this Agreement) directly or indirectly, individually or as
an officer, director, employee, shareholder, consultant, contractor, partner, joint venturer, agent, equity owner or in any capacity whatsoever (1) during the Employment Period and for a term of twelve (12) months following the Termination
Date work for or engage in a restaurant business that features the sale of steak where the sale of steak exceeds 30% of the restaurant’s revenues from food sales and which is located within 25 miles of any Del Frisco’s Double Eagle Steak
House restaurant or Sullivan’s Steakhouse restaurant, (a “Competing Business”), or (2) for a period of twelve (12) months following the Termination Date, (i) hire, attempt to hire, or contact or solicit with
respect to hiring any managerial employee of the Protected Company which includes, but is not necessarily limited to Regional Managers, General Managers, Probationary Managers, Managers, Executive Chefs, Managers in Training, and Sous Chefs;
(ii) solicit, divert or take away any customers or customer leads of the Company with whom Employee had, whether directly or indirectly, contact or business relations during the Employment Period or about whom Employee possesses Confidential
Information; or (iii) solicit, encourage, or influence any suppliers or vendors of the Protected Company to cease doing business with the Protected Company or change the terms and conditions upon which they conduct their business with the Protected
Company where Employee had, whether directly or indirectly, contact or business relations during the Employment Period with such vendors or suppliers, or about whom Employee possesses Confidential Information. 

(b) Employee acknowledges that the geographic boundaries, scope of prohibited activities, and time duration of the preceding paragraphs
are reasonable in nature and are no broader than are necessary to maintain the confidentiality and the goodwill of the Company and the confidentiality of its Confidential Information and to protect the other legitimate business interests of the
Company. 
 (c) If any court determines that any portion of this Section 8 is invalid or unenforceable, the
remainder of this Section 8 shall not thereby be affected and shall be given full effect without regard to the invalid provisions. If any court construes any of the provisions of this Section 8, or any part thereof, to be
unreasonable because of the duration or scope of such provision, such court shall have the power to reduce the duration or scope of such provision and to enforce such provision as so reduced. 

(d) Notwithstanding the foregoing, in the event there is a Change in Control of the Company, and Employee elects to resign his employment
within six (6) months of the Change in Control upon providing ten (10) days advance notice of such resignation, then Employee shall not thereafter be bound by Section 8(a) of this Agreement and the provisions therein shall be
void and of no effect. 

  
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 (e) Definitions for Section 8 

(1) “Change in Control” means the occurrence of any one of the following: the closing of a sale (by merger, sale of
membership interests, issuance of membership interests by the Company, consolidation or other transaction) that results in either of the following: (i) the Company’s members or equity owners immediately prior to the effective time of the
transaction beneficially owning immediately after the closing of the transaction securities of the Company or any surviving or new corporation having less than 50% of the “voting power” (the right to vote generally to elect managers or
directors and whether by ownership or by agreements or arrangements concerning voting) of the Company or any surviving or new entity, including “voting power” exercisable on a contingent or deferred basis as well as immediately exercisable
“voting power;” or (ii) the closing of a sale, lease, exchange or other transfer or disposition by the Company of all or substantially all of the assets of the Company, in one or a series of integrated transactions; or (iii) the
dissolution or liquidation of the Company. Notwithstanding the foregoing, none of the foregoing transactions shall constitute a Change of Control under this Agreement if the transaction is approved by a majority of the Company’s Board of
Directors as constituted immediately prior to the transaction. 
 (2) “Protected Company” shall include the
Company and LSF5 Wagon Holdings, LLC, and any of their subsidiaries or affiliates. 
 9. Inventions; Assignment.
All rights to discoveries, inventions, improvements and innovations (including all data and records pertaining thereto) related to the Company’s business, whether or not patentable, copyrightable, registrable as a trademark, or reduced to
writing, that Employee may discover, invent or originate during the Employment Period, either alone or with others and during work hours or by the use of the facilities of the Company (“Inventions”), shall be the exclusive property
of the Company. Employee shall promptly disclose all Inventions to the Company, shall execute at the request of the Company any assignments or other documents the Company may deem necessary to protect or perfect its rights therein, and shall assist
the Company, at the Company’s expense, in obtaining, defending and enforcing the Company’s rights therein. Employee hereby appoints the Company as his attorney-in-fact to execute on his behalf any assignments or other documents deemed
necessary by the Company to protect or perfect its rights to any Inventions. 
 10. Miscellaneous. 

(a) Construction. This Agreement shall be deemed drafted equally by both the parties. Its language shall be construed as a whole
and according to its fair meaning. Any presumption or principle that the language is to be construed against any party shall not apply. The headings in this Agreement are only for convenience and are not intended to affect construction or
interpretation. 

  
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 (b) Notices. All notices and other communications hereunder shall be in writing and
shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to Employee:	  	 Thomas G. Dritsas

2600 Crofton Springs Drive

Raleigh, NC 27615

		
	If to the Company:	  	 Center Cut Hospitality, Inc.
 930 South Kimball, Suite 100
 Southlake, TX 76092

 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 (c) Enforcement. If any provision of this
Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid
or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its
severance from this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision
as may be possible and be legal, valid and enforceable. 
 (d) No Waiver. No waiver by either party at any time of any
breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or conditions at any time. 

(e) Equitable and Other Relief. Employee acknowledges that money damages would be both incalculable and an insufficient remedy for
a breach by Employee and that any such breach would cause the Company irreparable harm. Accordingly, the Company, in addition to any other remedies at law or in equity it may have, shall be entitled, without the requirement of posting of bond or
other security, to equitable relief, including injunctive relief and specific performance, in connection with a breach of Sections 6, 7, or 8 by Employee. Employee further agrees that, in the event he is adjudicated to have violated Sections
7 and 8, the term of his obligations thereunder shall be extended for a period of time equal to the period of time during which he was in violation of such obligations. In addition to the remedies the Company may have at law or in equity, violation
of Sections 6, 7, or 8 entitles the Company at its sole option to discontinue the Severance Payments to Employee, and to seek repayment from Employee of any Severance Payments paid to him by the Company during any period of time Employee was
in violation of Sections 6, 7, or 8. No action taken by the Company under this Section 10(e) shall affect the enforceability of the release and waiver of claims executed by Employee pursuant to Section 4(b).

 (f) Complete Agreement. The provisions of this Agreement constitute the entire and complete understanding and
agreement between the parties with respect to the subject 

  
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matter hereof, and supersedes all prior and contemporaneous oral and written agreements, representations and understandings of the parties, which are hereby terminated. Other than expressly set
forth herein, Employee and Company acknowledge and represent that there are no other promises, terms, conditions or representations (or written) regarding any matter relevant hereto. This Agreement may be executed in two or more counterparts.

 (g) Arbitration; Venue for Disputes. The Company and Employee agree to the resolution by binding arbitration of all
claims, demands, causes of action, disputes, controversies or other matters in question in accordance with the terms of the Company’s Mandatory Arbitration Policy and Procedure for Resolving Disputes Arising out of Its Employees’
Employment or Termination of Employment (“Arbitration Agreement”) to which Employee has previously agreed and which is incorporated herein by reference. Notwithstanding anything to the contrary in the Arbitration Agreement, the
Parties agree that the Company has the right to seek temporary relief, including injunctive relief and specific performance, in a court of competent jurisdiction for an alleged breach of Sections 6, 7, and 8 of this Agreement. The parties
agree that venue for any disputes arising from or related to this Agreement or any threatened breach thereof shall lie exclusively in Dallas County, Texas and that lawsuit or arbitration commenced in any other venue will be transferred to Dallas
County, Texas upon the written request of any party to this Agreement. 
 (h) Survival. Sections 6, 7, 8, 9 &
10 of this Agreement shall survive the termination of this Agreement except as provided in Section 8(d). 
 (i)
Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without reference to principles of conflict of laws of Texas or any other jurisdiction, and, where applicable, the laws of
the United States. 
 (j) Amendment. This Agreement may not be amended or modified at any time except by a written
instrument executed by the Company and Employee. 
 (k) Indemnification. Toe the full extent permitted by law, the
Company shall pay reasonable expenses incurred by or judgments or fines rendered or levied against Employee in action brought by a third-party against Employee (whether or not the Company is a party to that action) arising from any act alleged by
have been committed by Employee in the course and scope of his employment during the Employment Period unless (i) Employee acted with gross negligence or willful misconduct or (ii) the action is one between the Company and Employee.
Payments authorized hereunder shall include reasonable amounts paid and expenses incurred in settled such action or threatened action provided the Company is consulted with respect to any such settlement. 

(l) Employee Acknowledgment. Employee acknowledges that he has read and understands this Agreement, is fully aware of its legal
effect, has not acted in reliance upon any representatives or promises made by the Company other than those contained in writing herein, and has entered into this Agreement freely based on his own judgment. 

SIGNATURES ON SUCCEEDING PAGE 

  
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 IN WITNESS WHEREOF, Employee executed this Agreement and the Company has caused this
Agreement to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	EMPLOYEE:
	
	 /s/ Thomas G. Dritsas

	Thomas G. Dritsas
	
	COMPANY:
	
	Center Cut Hospitality, Inc.
		
	By:	 	 /s/ Mark Mednansky

		 	Mark Mednansky
		 	Its: President

  
 10Asset Advisory Agreement

 Exhibit 10.28 
 ASSET ADVISORY AGREEMENT 
 LONE STAR STEAKHOUSE & SALOON,
INC. 
 THIS ASSET ADVISORY AGREEMENT (“Agreement”) is made effective as of December 13, 2006, by
and between HUDSON ADVISORS, L.L.C., a Texas limited liability company (“Manager”), and LONE STAR STEAKHOUSE & SALOON, INC., a Delaware corporation (“Owner,” and, together with
Manager, the “Parties”), and joined herein by LONE STAR FUND V (U.S.), L.P., a Delaware limited partnership (the “Fund”), for the limited purposes set forth in Section 7(a) below. 

RECITALS 

WHEREAS, Owner is in the business of owning and operating restaurants (the “Business”). 

WHEREAS, Owner desires that Manager undertake the asset management of the Business, as provided herein, and Manager desires to undertake
such management. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the mutual promises contained herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

  

	1.	Services. Manager shall provide operating company oversight functions for Owner in connection with the Business, which services may include, but shall not be
limited to, the following: 

 (a) Manager shall be responsible for the day-to-day communication and coordination
with any personnel or other service providers hired by Owner or its subsidiaries with respect to the Business. Manager shall provide the other management services as are set forth in this Agreement; however, notwithstanding anything in this
Agreement to the contrary, Owner shall retain the sole right to approve or change the budget for the operation of the Business, to approve any transactions with respect to the Business, and to hire and fire personnel and other service providers for
the Business. 
 (b) Manager shall assist and advise Owner with respect to the Long Term Plan (as hereafter defined). For
purposes hereof, “Long Term Plan” means the Long Term Plan developed or adopted by Owner with respect to the Business, as may be amended from time to time. 
 (c) Manager shall, subject to the availability of sufficient funds, work diligently to implement the Long Term Plan and shall have the authority (together with the obligation and responsibility) to manage
the Business in accordance with such Long Term Plan. 

  
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Any specific action or cost enumerated in any Long Term Plan may be implemented and consummated by Manager for Owner without further approval or participation of Owner; however, Owner retains the
right to change the Long Term Plan at any time. 
 (d) Notwithstanding anything to the contrary herein, if, in order to preserve
the rights of Owner with respect to the Business, certain action not authorized pursuant to the Long Term Plan or the terms of this Agreement that would otherwise require the approval of Owner must be immediately taken in response to an emergency
matter concerning the Business (“Emergency Matter”) in order to protect Owner’s interest therein, then Manager shall be authorized to take such actions as it deems necessary or appropriate to so protect the interests of Owner.
Manager shall promptly notify Owner of the action taken and the circumstances giving rise to such action (including the reason for the requirement for immediate action). Any such action or expenditure relating to an Emergency Matter that may be
consummated by Manager shall be deemed approved by Owner. 
 (e) Manager shall obtain and maintain on behalf of Owner all
licenses, permits, certificates, consents, and other approvals required with respect to the Business (collectively, “Licenses”). Manager shall provide Owner with copies of all completed initial or renewal License applications for
approval, not less than thirty (30) days prior to the date such applications are due. All Licenses shall be obtained in the Owner’s name whenever possible. Any Licenses obtained in the name of Manager shall be held on behalf of Owner, and,
upon termination of this Agreement, Manager shall transfer or assign all such Licenses to such person as the Owner may direct at no cost, to the extent permitted by applicable law. 

(f) Manager shall not be required to devote its full time and attention to the management of the Business, but only such time as is
reasonably necessary for the proper conduct of its duties under this Agreement. 
  

	2.	Consultation and Communication; Reports. 

 (a) Manager’s management personnel shall be available at the reasonable request of Owner for consultation and shall provide Owner with all information pertaining to the Business and Manager’s
services related thereto as is reasonably requested and as Manager can reasonably provide. 
 (b) Owner and Manager shall, upon
Owner’s request, (such request to be made by written notice to Manager, setting forth the time, date, and location of such meeting), meet (or hold a telephone conference call) to discuss the progress of, and proposals, strategy, operation, and
administrative matters relating to, the Business, and to review actual operating results in relation to the projections set forth in the Plans. For any of the foregoing meetings that require Manager’s representatives to travel, Owner shall pay
all travel, lodging, food and other expenses of such representatives incurred in traveling to, staying at, and returning from the location of any such meeting. 

  
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 (c) Manager shall prepare and submit to Owner, by no later than the twenty-fifth
(25th) day of each month, regular monthly reports for the prior month of its activities on behalf of Owner for examination and review by Owner, which reports shall be in form and substance reasonably satisfactory to Owner. 

 

	3.	Duty of Care. Manager shall carry out its obligations hereunder in accordance with such asset management standards as are customarily employed by similar asset
managers managing comparable portfolios for others under similar terms and conditions. 

  

	4.	Expenses. All expenses incurred by Manager on behalf of Owner hereunder shall be paid by Owner, in strict accordance with the applicable Plan, or as otherwise
approved by Owner. In no event shall Manager be obligated to pay any expenses related to the Business. If Manager, in its sole discretion, shall elect to pay any expenses, Owner shall reimburse Manager as set forth in the applicable Plan.

  

	5.	Reserved. 

  

	6.	Ancillary Services. Manager may, but is not required to, perform certain additional services on behalf of Owner, including, without limitation, the following:
financial accounting and reporting; tax accounting, preparation, and reporting; treasury, including, but not limited to, acting as a cash agent; risk management; legal and compliance; record keeping; and operating company oversight
(“Ancillary Services”). Such Ancillary Services shall be performed in a commercially reasonable manner and on a competitive basis. Ancillary Services will be charged at 110% of Manager’s cost thereof or at 110% of the hourly
billing rates of the individuals performing such services using actual time incurred. If Owner fails or refuses to pay any amounts hereunder when due, interest in respect of the outstanding amount shall accrue at the rate of eighteen percent
(18%) from the date due until the aggregate amount outstanding (including interest) is paid in full. In the event that Owner disputes any portion of any charges by Manager (whether for reimbursement of expenses or for services), Owner agrees to
pay any undisputed portion of such charges and to submit such dispute as to the remainder for resolution in accordance with the dispute resolution procedures set forth in Section 11 hereof. 

 

	7.	Term; Termination. 

 (a)
This Agreement shall be effective as of the date first above written. This Agreement shall be terminable by Manager or Owner and/or the Fund upon thirty (30) days’ notice from one to the others for any reason or no reason whatsoever.

 (b) Upon expiration or termination of this Agreement for any reason, (i) Manager shall deliver to Owner, or its nominee
(A) all books, documents, records, materials, supplies, and funds in its possession belonging to Owner or received by Manager pursuant to the terms of this Agreement and (B) a statement of expenses incurred by, and other amounts payable
to, Manager pursuant to this Agreement as of the date of termination, and (ii) not later than fifteen (15) days following the date of termination, Owner shall pay to Manager in full all amounts due Manager as of such date of termination.

  
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 (c) Termination of this Agreement shall not release Manager or Owner, as the case may be,
from liability for failure to perform any of the duties or obligations of Manager or Owner, as the case may be, under this Agreement that have accrued as of the date of termination. 

 

	8.	Confidentiality. Each Party shall maintain in confidence the facts and terms of this Agreement and all other information received from the other Party that is
identified in writing at the time of delivery as being confidential; provided, however, that each Party may disclose such information (a) to its and its affiliates’ directors, officers, employees, or agents (it being understood that they
shall be informed by such Party of the confidential nature of such information and that such Party shall cause them to treat such information confidentially); (b) if required to do so by applicable laws, rules, regulations, or orders;
(c) if such information becomes part of the public domain; or (d) if such information otherwise was or becomes available to such Party on a non-confidential basis, provided that the source of such information was not known by such Party to
be bound by a confidentiality obligation. 

  

	9.	Representations and Warranties. Each Party represents and warrants to the other that, as of the date hereof: 

(a) It is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation. It has all requisite
power and authority to enter into and to perform its obligations under this Agreement. 
 (b) Its execution, delivery, and
performance of this Agreement have been duly authorized and do not and will not (i) violate any law, rule, regulation, order, or decree applicable to it or (ii) violate its organizational documents. 

(c) This Agreement is a legal and binding obligation, enforceable against it in accordance with its terms, except to the extent
enforceability is modified by bankruptcy, reorganization, and other similar laws affecting the rights of creditors generally and by general principles of equity. 
 (d) There is no litigation pending or, to the best of its knowledge, threatened to which it is a party that, if adversely determined, would have a material adverse effect on the transactions contemplated
in this Agreement or its financial condition, prospects, or business. 
  

	10.	No Assignment. Neither Party may assign any of its rights, duties or obligations under this Agreement without the prior written consent of the other Party.

  
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	11.	Governing Law; Dispute Resolution. 

 (a) This Agreement shall be governed by and construed in accordance with the laws of the State of Texas. 
 (b) The Parties shall attempt in good faith to resolve any dispute or difference of any kind whatsoever between the Parties or any of their affiliates arising out of or in connection with or in relation
to this Agreement, including any claims arising out of or relating to this Agreement, whether in contract, tort, statutory, or otherwise, and including any claims regarding the existence, scope, validity, breach, or termination of this Agreement
(each, a “Dispute”), by mutual agreement. 
 (c) If any Dispute cannot be resolved by mutual agreement, the
Dispute shall be finally settled by arbitration pursuant to the procedures set forth in this Section 11. 
 (d) The arbitral
tribunal (the “Tribunal”) shall be composed of three (3) arbitrators. Manager and Owner shall each appoint an arbitrator within thirty (30) days of the date of a request to initiate arbitration, and the two
(2) appointed arbitrators shall then jointly appoint a third arbitrator within thirty (30) days of the appointment of the second arbitrator, to act as chairman of the Tribunal. Arbitrators not appointed within the time limits set forth in
the preceding sentence shall be appointed by the American Arbitration Association at the request of either Owner or Manager. 

(e) The arbitration shall be conducted in accordance with the then-existing Rules of Arbitration (the “Rules”) of the
American Arbitration Association. The arbitration shall take place in Dallas, Texas and be conducted in the English language. The Tribunal shall apply the substantive law of Texas (exclusive of choice of law principles) in resolving the Dispute.
Issues relating to the conduct of the arbitration and enforcement of any award shall be governed by the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) and, to the extent applicable, the Federal
Arbitration Act, 9 U.S.C. §§ 1-16. The American Arbitration Association shall not serve as administrator of the arbitration; its sole function shall be to appoint arbitrators not appointed within the time limits as set forth in
Section 11(d). 
 (f) Any monetary award shall be in United States dollars. The award of the Tribunal shall be kept
confidential, and no Party shall disclose the award or the substance of the award or any portion thereof to any other person or entity, except to the extent necessary to comply with any applicable law, regulation, or order of any court, agency, or
regulatory authority, or to make appropriate filings with any stock exchange or in court proceedings relating to any application concerning the award that is made by any Party; provided, however, that the award may be disclosed to any affiliate,
shareholder, member, or lender of any Party to the arbitration if such affiliate, shareholder, member, or lender agrees to maintain the confidentiality of the award to the extent required by this Section 11(f). The arbitrator shall not have the
authority to award punitive, special, exemplary, incidental, indirect, or consequential damages, regardless of whether a claim is based on contract, tort (including negligence), strict liability, violation of any applicable deceptive trade practices
act or similar law, or any other legal or equitable principle. 

  
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 (g) The award rendered and any arbitration commenced hereunder shall be final and binding
upon the Parties, and a judgment thereon may be entered in any court having jurisdiction for its enforcement. 
 (h) The
obligation to arbitrate under this Section 11 is binding on the Parties and their affiliates, successors, and assigns. For purposes of appointing arbitrators, any Party and its affiliates, successors, and assigns shall jointly appoint such
Party’s arbitrator. Each Party agrees that, failing mutual agreement in accordance with Section 11(b), arbitration under this Section 11 is the exclusive method for resolving any Dispute and that such Party and its affiliates will not
commence any action or proceeding concerning a Dispute, except to enforce the award or to compel arbitration. 
  

	12.	No Partnership or General Agency. The relationship between the Parties is that of independent contractors solely as set forth herein, and each Party shall be
responsible only for its obligations as set forth herein. It is not the intention of the Parties to render the Parties liable as partners, associates, or joint venturers or to create a partnership, joint venture or other association. The liability
of the Parties hereunder to third parties shall be several and not joint or collective. Except as specifically otherwise provided herein or agreed in writing, Manager (i) is not an agent or representative of Owner and (ii) shall not have,
and shall not represent itself as having or allow any of its employees, officers, directors, agents, or representatives to represent that it or any of them has, any authority to commit Owner by negotiation or otherwise to any contract, agreement, or
other legal commitment in the name of, or otherwise binding on, Owner, or to pledge or extend its credit. Notwithstanding the above, Owner authorizes and appoints Manager, or any of its affiliates, to act as servicer of any Asset owned by Owner, and
authorizes Manager, or such affiliate, to perform, in accordance with any applicable Plan, such services and functions, including entering into negotiations with any third-party borrower, lender, or agent, as may be desirable to be performed in
connection with the resolution or settlement of any such asset. 

  

	13.	Employees and Independent Contractors. Manager shall be responsible for its employees and shall use reasonable care in selecting and supervising independent
contractors. All matters pertaining to the employment, supervision, compensation, promotion, and discharge of Manager’s employees are the responsibility of Manager, and Manager shall be liable to such employees for their compensation (in
whatever form or amount such compensation may be). Owner shall never be the employer of such employees, nor shall Owner ever be directly responsible for their compensation. Manager shall comply with all applicable laws and regulations relating to
workmen’s compensation, social security, unemployment insurance, hours of labor, wages, working conditions, and other employer-employee related matters. Manager shall be responsible for negotiating the terms of contracts with and overseeing the
performance of contractors. 

  
 6 

	14.	Compliance with Laws. Manager shall comply with all applicable laws, including but not limited to the U.S. Foreign Corrupt Practices Act, in connection with this
Agreement. Without limiting the foregoing, Manager agrees not to pay or promise to pay or give or promise to give anything of value, either directly or indirectly, to any person for the purpose of illegally or improperly inducing that person to take
any action or to omit to take any action in connection with this Agreement. Manager warrants and represents to Owner that, prior to the execution of this Agreement, it has nor taken or omitted to take any action with respect to this Agreement if
such act or omission would have violated the U.S. Foreign Corrupt Practices Act. 

  

	15.	No Consequential Damages. Under no circumstances, whether based on contract, warranty, negligence, strict liability, or otherwise, shall either Party be liable
for any consequential, indirect, incidental, or punitive damages of any kind or character, including, but not limited to, loss of profits or revenues, loss of product, loss of use, cost of capital, and the like, arising out of or related to any
performance under or breach of this Agreement. The Parties specifically acknowledge that the benefits each Party contemplates deriving from the provisions of this Agreement reflect such allocation of risk and limitation of liabilities.

  

	16.	Exculpation. Manager and each of its shareholders, consultants, agents, members, officers, directors, partners, and employees (collectively, “Covered
Persons”) shall not be liable for any losses, claims, damages, or liabilities arising from any act performed or omitted by any Covered Person in connection with this Agreement, except any such losses, claims, damages, or liabilities that
are caused by the fraud, gross negligence, or willful misconduct of such Covered Person. 

  
 7 

	17.	Indemnification. 

 (a)
Owner, to the fullest extent permitted by law, shall indemnify, defend, and hold harmless each Covered Person from and against any and all losses, claims, damages, or liabilities of any nature whatsoever, including legal fees and other expenses
reasonably incurred, arising out of or in connection with the management and disposition of the Business, any duty of Manager hereunder, or any action taken or omitted by any such Covered Person by or on behalf of Owner pursuant to authority granted
by this Agreement, even if any such losses, claims, damages, or liabilities are caused in whole or in part by the negligence of such Covered Person. This indemnification does not apply to the extent any such losses, claims, damages, or liabilities
are caused by the fraud, gross negligence, or willful misconduct of any Covered Person. In the event that any Covered Person becomes involved in any capacity in any suit, action, proceeding, or investigation in connection with any matter arising out
of or in connection with the management and disposition of the Business, any duty of Manager hereunder, or any action taken or omitted by such Covered Person pursuant to authority granted by this Agreement, Owner shall, within twenty (20) days
after submission of a request for reimbursement, reimburse such Covered Person for its reasonable legal and other expenses (including the cost of any investigation and preparation) incurred in connection therewith. 

(b) Promptly after a Covered Person receives notice of the commencement of any action or other proceeding in respect of which
indemnification may be sought hereunder, such Covered Person shall notify Owner thereof; provided, that the failure to do so shall not relieve Owner from any obligation hereunder unless, and only to the extent that, such failure results in
Owner’s forfeiture of substantive rights or defenses. 
  

	18.	Further Assurances. Each Party agrees to execute and deliver such additional documents and to take such additional actions as may be necessary or appropriate to
effect the provisions of this Agreement and all transactions contemplated hereby. 

  

	19.	Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior written
or oral understandings or agreements between the Parties. 

  

	20.	No Third-Party Beneficiaries. This Agreement is solely for the benefit of the Parties and, with respect to Sections 16 and 17, the Covered Persons, and their
respective successors and assigns, and this Agreement shall not otherwise be deemed to confer upon or give to any third party any remedy, claim, liability, reimbursement, cause of action, or other right. 

 

	21.	Severability. If any provision of this Agreement is prohibited by applicable law, the Parties shall amend such provision to the extent (and only to the extent)
necessary to comply with such law. Subject to the preceding sentence, if any provision of this Agreement or the application thereof to either Party or circumstance shall be held invalid or unenforceable to any extent, the remainder of this Agreement
and the application of such provision to other parties or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law. 

  
 8 

	22.	Notices. All notices, requests, and demands to or upon the respective Parties and the Fund hereto shall be effective in writing (including by facsimile, telex,
or cable communication) and shall be deemed to have been duly given or made when delivered by hand, in the case of facsimile, telex, or cable communication upon being sent (provided that, in the case of facsimile and telex communications, electronic
confirmation of delivery of such communication is received by the Party upon sending such communication), two (2) days after having been deposited with a reputable international overnight courier service, or, if sent within the United States,
three (3) days after being deposited in the United States mail, certified or registered, postage prepaid. Notices shall be sent to the following addresses or such other address as may be substituted by giving the other Party and the Fund, as
applicable, not fewer than five (5) days’ advance written notice of such change of address: 

  

			
	If to Owner, to:	  	 LONE STAR STEAKHOUSE & SALOON, INC.
 717 North Harwood Street, Suite 2200
 Dallas, Texas, 75201

Attention: President
 Telephone: (214)
754-8300
 Fax (214)754-8301

		
	If to Manager to:	  	 HUDSON ADVISORS, L.L.C.
 717
North Harwood Street, Suite 2100
 Dallas, Texas, 75201
 Attention: President
 Telephone: (214) 754-8300

Fax: (214) 754-8301

		
	If to the Fund:	  	 LONE STAR FUND V (U.S.), L.P.
 717 North Harwood Street, Suite 2200
 Dallas, Texas 75201

Attention: General Partner
 Telephone:
214-754-8300
 Fax: 214-754-8301

  

	23.	Amendment. An amendment or modification of this Agreement shall be effective or binding on a Party only if it is in writing and signed by that Party.

  

	24.	Survival. Any provision that, by its nature, is intended to survive the termination of this Agreement shall survive such termination. 

 

	25.	Waivers. Any waiver, express or implied, by a Party of any right under this Agreement or of any breach by the other Party shall not constitute or be deemed a
waiver of any other right or any other breach, whether of a similar or dissimilar nature to the right or breach being waived. A waiver of a Party’s rights under this Agreement, including with respect to another Party’s breach, shall be
effective only if that Party agrees in writing. 

  
 9 

	26.	Headings. The headings contained in this Agreement are for convenience only and shall not affect the construction or interpretation of any provisions of this
Agreement. 

  

	27.	Binding Effect. Subject to the restrictions on assignment set forth in this Agreement, this Agreement shall inure to the benefit of and be binding upon the
undersigned Parties and their respective legal representatives, successors, and permitted assigns. Whenever this Agreement refers to any Party, such reference shall be deemed to include the legal representatives, successors, and permitted assigns of
such Party. 

  

	28.	Intention of Parties to Act Reasonably. Owner and Manager hereby acknowledge and agree that they will act reasonably in implementing the provisions of this
Agreement and in the management and disposition of the Business. 

  

	29.	Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute but one
agreement. 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 10 

 IN WITNESS WHEREOF, the Parties have caused their duly authorized representatives to execute
and deliver this Agreement effective as of the day and year first above written. 
  

					
	HUDSON ADVISORS, L.L.C.
	a Texas limited liability company
		
	By:	 	 /s/ ROBERT J. CORCORAN

		 	Name:	 	ROBERT J. CORCORAN
		 	Title:	 	PRESIDENT
	
	LONE STAR STEAKHOUSE & SALOON, INC.
	a Delaware corporation
		
	By:	 	 /s/ MARC L. LIPSHY

		 	Name:	 	MARC L. LIPSHY
		 	Title:	 	PRESIDENT

 LONE STAR FUND V (U.S.), L.P., a Delaware limited partnership, hereby joins in the execution of
this Agreement to evidence its agreement to the provisions of Section 7(a) hereof. 
  

											
	LONE STAR FUND V (U.S.), L.P., a Delaware limited partnership
		
	By:	 	Lone Star Partners V, L.P., its general partner
		
		 	By: Lone Star Management Co. V, Ltd., its general partner

 
											
				
		 		 	By:	 	 /s/ Benjamin D. Velvin III

		 		 		 	Benjamin D. Velvin III
		 		 		 	Vice President

  
 11

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