Document:

Exhibit 10.1

 

CONSENT, Waiver
and amendment no. 7

to

loan and security
agreement

 

THIS CONSENT, WAIVER
AND AMENDMENT NO. 7 TO LOAN AND SECURITY AGREEMENT (“Amendment”) is made and dated as of August 22, 2017 by
and among AMERI AND PARTNERS INC, a Delaware corporation, AMERI100 GEORGIA INC., a Georgia corporation (“Ameri Georgia”),
AMERI100 VIRTUOSO INC., a Delaware corporation, AMERI100 ARIZONA LLC, an Arizona limited liability company, AMERI100 CALIFORNIA
INC., a Delaware corporation, AMERI HOLDINGS, INC., a Delaware corporation, LINEAR LOGICS, CORP., a Pennsylvania corporation, WINHIRE
INC, a Delaware corporation, IYENGAR GIRI DEVANUR SAMPATH, and STERLING NATIONAL BANK, a national banking association (“Sterling”,
as agent for the Lenders and as Lender).

RECITALS

A.                 
The parties to this Amendment are all of the parties to a Loan and Security Agreement dated as of July 1, 2016, as amended,
restated or supplemented (the “Loan Agreement”). Sterling currently is the sole Lender and the Agent under the
Loan Agreement and is acting in such capacities in this Amendment.

B.                 
The Borrowers have advised Sterling that, pursuant to a Share Purchase Agreement dated as of March 31, 2017, among Bellsoft
India Solutions Private Limited, a company incorporated and registered in India (“BellSoft India”), Ameri Georgia,
Srinidhi Devanur (“SDevanur”), and certain selling shareholders of BellSoft India (as amended, restated or supplemented,
the “BellSoft India Agreement”), on March 31, 2017, Ameri Georgia purchased the Sale Shares (as defined in the
BellSoft India Agreement) and thereby became the beneficial owner of all the Equity Shares (as defined in the BellSoft India Agreement),
one of which is held of record by SDevanur as nominee for Ameri Georgia (the “BellSoft India Acquisition”).

C.                 
The Loan Parties have requested that:

(i)       Sterling
consent to the BellSoft India Acquisition,

(ii)       Sterling
waive any Default or Event of Default that has occurred by reason of the failure of any condition or of any Loan Party to comply
with the requirements of the Loan Agreement in connection with the BellSoft India Acquisition,

(iii)       Sterling
make a term loan to Borrowers (the “Incremental Term Loan”) in the principal amount of $343,200.58 (the
“Incremental Loan Amount”), which shall be an addition to and comprise a part of the Term Loan, and, except
as expressly provided in Section 1 of Annex 2 of the Loan Agreement (as amended and restated pursuant to Section
5(d) below), shall be subject to the same terms and conditions applicable to the Term Loan, and

(iv)       certain
conforming amendments be made to the Loan Agreement and, as applicable, other Loan Documents.

D.                 
Sterling is willing to agree to the foregoing, all on and subject to the terms and conditions set forth in this Amendment.

AGREEMENT

NOW, THEREFORE,
in consideration of the premises, the terms and conditions set forth in this Amendment, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

1.                 
Recitals. This Amendment is a Loan Document. The Recitals set forth above are intended to be, and shall
be construed as, included in and a substantive part of this Amendment.

    	 

     

    

2.                 
Definitions. Each capitalized term used, but not otherwise defined, herein is used herein as defined in
the Loan Agreement, and the rules of interpretation and conventions set forth in Annex 1 of the Loan Agreement apply mutatis
mutandis to this Amendment.

3.                 
Waiver and Consent with respect to the BellSoft India Acquisition. At the request of and as a one-time
accommodation to the Loan Parties and subject to the terms and conditions set forth herein, including the conditions precedent
set forth in Section 9 hereof, Sterling hereby waives the Loan Parties’ failure of compliance with (a) the requirements
of Section 19 of Annex 2 of the Loan Agreement, if and to the extent applicable to the Bellsoft India Acquisition
(if and to the extent any such requirement has not been timely satisfied or performed), (b) the covenant set forth in Section
5.5 of the Loan Agreement, and (c) any other provision of the Loan Agreement that would otherwise have prohibited or conditioned
the BellSoft India Acquisition, and waives any Default that has occurred by reason of the closing of the Bellsoft India Acquisition.
Sterling hereby consents to the BellSoft India Acquisition.

4.                 
Incremental Term Loan. Subject to the satisfaction of the conditions precedent set forth in Section
9 hereof:

(a)                
On the Amendment No. 7 Effective Date, Sterling shall make the Incremental Term Loan by crediting the Incremental Loan Amount
to the accounts of Borrowers (or any of them) at Sterling as directed by the Administrative Borrower.

(b)                
The Incremental Term Loan shall be an additional amount funded under the Term Loan and be subject to all the provisions
of the Loan Agreement and the other Loan Documents applicable to the Term Loan, including the calculation and payment of interest,
except that the Incremental Term Loan shall be subject to mandatory prepayment as provided in Section 1 of Annex 2
of the Loan Agreement (as amended and restated pursuant to Section 5(d) below).

5.                 
Amendments.

(a)                
Amendment to Section 1.2 of the Loan Agreement. Section 1.2(a) of the Loan Agreement is amended and
restated in its entirety as follows:

“1.2Term
Loan.

	(a)	Subject to the terms and conditions of this Agreement and the other Loan
Documents, (i) on the Term Loan Funding Date, each Lender with a Term Loan Commitment agrees (severally, not jointly or jointly
and severally) to make a term loan (the “Initial Term Loan”) to Borrowers in an amount equal to such
Lender’s Pro Rata Share of the Term Loan Amount, and (ii) on the Amendment No. 7 Effective Date, each Lender with a Term
Loan Commitment agrees (severally, not jointly or jointly and severally) to make a term loan (the “Incremental Term
Loan”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of the Incremental Loan Amount. The
Initial Term Loan and the Incremental Term Loan are collectively referred to herein as the “Term Loan”.
Amounts repaid with respect to the Term Loan may not be re-borrowed.“

(b)                
Certain Definitions. Annex 1 of the Loan Agreement is hereby amended by adding or amending and restating
in their entirety, as the case may be, the following definitions (inserted in alphabetical order):

“Amendment
No. 7” shall mean the Consent, Waiver and Amendment No. 7 to this Agreement dated as of August 22, 2017.

“Amendment
No. 7 Effective Date” shall mean August 22, 2017.

“BellSoft
India” shall have the meaning set forth in the Recitals to Amendment No. 7.

    	2

     

    

“BellSoft
India Acquisition” shall have the meaning set forth in the Recitals to Amendment No. 7.

“BellSoft
India Agreement” shall have the meaning set forth in the Recitals to Amendment No. 7.

“Incremental
Loan Amount” shall have the meaning set forth in Annex 2.

“Incremental
Term Loan” shall have the meaning set forth in Section 1.2(a) of the Agreement.

“Initial Term Loan”
shall have the meaning set forth in Section 1.2(a) of the Agreement.

“Term Loan Commitment”
shall mean, with respect to each Lender, its Term Loan Commitment, and, with respect to all Lenders, their aggregate Term Loan
Commitments, in each case with respect to each and either of the Initial Term Loan and the Incremental Term Loan, as such Dollar
amounts are set forth beside such Lender’s name under the applicable heading on Schedule A to the Agreement
or in the Assignment and Acceptance pursuant to which such Lender became a Lender under the Agreement, as such amounts may be reduced
or increased from time to time pursuant to assignments made in accordance with the provisions of Section 7.1 of the
Agreement.

(c)                
Certain Schedules. Schedules A, 3.1, 3.3 and 3.5 to the Loan Agreement are amended and restated in
their entirety as set forth in the corresponding Schedules to this Amendment.

(d)                
Term Loan Amortization. Section 1 of Annex 2 of the Loan Agreement is amended and restated in
its entirety as follows:

“1.Term Loan Amortization
(Section 1.2(b))

The principal
amount of the Term Loan will be repaid as follows: (i) equal consecutive monthly installments in the amount of $33,333.33 each,
with the first such installment due on the first day of the calendar month following the Closing Date, and continuing thereafter
through and including the first day of the calendar month preceding the Term Loan Maturity Date and then (ii) one final payment
of the entire remaining principal balance, together with all accrued but unpaid interest, on the Term Loan Maturity Date; provided,
however, that if, at any time prior to the Term Loan Maturity Date, Parent shall effect a public offering of its Stock (or
otherwise issue and sell Stock) in which it receives net proceeds of at least $1,000,000. Parent shall, immediately upon
the closing of such public offering (or other sale of Stock) and receipt of the net proceeds therefrom, make an equity contribution
to Borrowers (or any of them) in cash in an amount not less than the Incremental Loan Amount, together with any interest accrued
but unpaid thereon, and Borrowers shall thereupon immediately fully pay, satisfy and discharge the Incremental Term Loan.”

(e)                
Other Amendments. Section 15 of Annex 2 of the Loan Agreement is amended and restated in its
entirety as follows:

“15.(a)
Term Loan Amount

$2,000,000.00

(b) Incremental
Loan Amount

$343,200.58

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6.                 
Representations and Warranties; Covenants. In order to induce Sterling to enter into this Amendment, and
for the Loan Agreement to be amended in the manner provided herein, each Entity Loan Party hereby represents and warrants to Sterling
that, on and as of the Amendment No. 7 Effective Date, except as set forth on Exhibit A hereto:

(a)                
the Borrowers have delivered to Sterling correct and complete copies of the executed BellSoft India Agreement and any other
agreements, instruments and other documents relating to the BellSoft India Acquisition; all conditions precedent to the closing
of the BellSoft India Acquisition were satisfied prior to or at the time of the closing of the BellSoft India Acquisition, or,
if not satisfied, waived;

(b)                
(i) each Loan Party has the right and power and is duly authorized and empowered to enter into, execute and deliver this
Amendment and perform its obligations under this Amendment and the Loan Documents, (ii) each Entity Loan Party has taken all necessary
organizational action to authorize the execution, delivery and performance of this Amendment and the performance of the Loan Documents,
and (iii) this Amendment has been duly authorized, executed and delivered by each Loan Party;

(c)                
this Amendment constitutes a legal, valid and binding obligation of each Loan Party, enforceable against such Loan Party
in accordance with its terms, except as such enforceability may be limited by (i) applicable solvency, bankruptcy, reorganization,
moratorium or other similar laws affecting creditors’ rights generally and (ii) applicable equitable principles (whether
considered in a proceeding at law or in equity);

(d)                
(i) each Loan Party’s execution, delivery and performance of this Amendment and each Loan Party’s performance
of the Loan Documents do not (A) conflict with the provisions of the Organizational Documents of any Entity Loan Party, (B) violate
any Requirement of Law, (C) conflict with, contravene, constitute a breach of or default under, or result in or permit the termination
or acceleration of, any Contractual Obligation which may now or hereafter be binding on any Loan Party, or (D) require a Permit
of, or any other action by, any Governmental Authority or other Person, except those which have been obtained or made or are necessary
to perfect Liens created pursuant to the Loan Documents, and (ii) each Loan Party’s execution, delivery and performance of
this Amendment and each Loan Party’s performance of the Loan Documents will not result in the imposition of any Lien upon
any Property of any Entity Loan Party under any existing indenture, mortgage, deed of trust, loan or credit agreement or other
agreement or instrument by which such Entity Loan Party or any of its Property may be bound or affected;

(e)                
immediately prior to and after giving effect to this Amendment (including the waiver provided in Section 3 hereof),
no Default has occurred and is continuing or would result therefrom or from the closing of the BellSoft India Acquisition; and

(f)                 
each of the representations and warranties contained in the Loan Agreement and the other Loan Documents is true and correct
in all material respects (or, in the case of any such representation and warranty already qualified by materiality, true and correct
in all respects) on and as of the Amendment No. 7 Effective Date with the same effect as though such representation and warranty
had been made on and as of such date, except to the extent that such representation and warranty expressly relates solely to an
earlier date (in which case such representation and warranty was true and correct in all material respects (or, in the case of
any such representation and warranty already qualified by materiality, true and correct in all respects) on and as of such earlier
date).

7.                 
Reaffirmation of Security Interest. Each Entity Loan Party confirms and agrees that: (i) all Liens granted
to the Agent continue in full force and effect, and (ii) all Collateral remains free and clear of any Liens other than Liens in
favor of Sterling and Permitted Liens. Nothing herein contained is intended to impair or limit the validity, priority and extent
of Sterling’s Liens upon the Collateral.

8.                 
Costs and Expenses. The Borrowers shall be responsible for the payment of all of Sterling’s costs
and expenses incurred in connection with this Amendment, including, without limitation, the reasonable fees and expenses of Sterling’s
counsel. The Borrowers hereby authorize Sterling to pay all of such costs and expenses by charging same to any account of the Borrowers
maintained by Sterling under the Loan Agreement.

    	4

     

    

9.                 
Conditions to Effectiveness. This Amendment shall become effective as of the date on which each of the
following conditions has been satisfied, as determined by Sterling:

(a)                
Sterling and each Loan Party shall have executed and delivered this Amendment;

(b)                
the Borrowers shall have delivered to Sterling correct and complete copies of the BellSoft India Agreement;

(c)                
the Borrowers shall have delivered to Sterling a certificate of the chief executive officer or the chief financial officer
of Parent confirming that (i) all conditions precedent to the closing of the BellSoft India Acquisition under the BellSoft India
Agreement were satisfied prior to or at the time of the closing of the BellSoft India Acquisition, or, if not satisfied, waived
(and any such waived conditions are listed on the certificate), and (ii) after giving effect to the waiver provided in Section
3 hereof, no Default existed immediately prior to or upon the closing of the BellSoft India Acquisition; and

(d)                
Sterling shall have received each other agreement, certificate, instrument and document reasonably requested by Lender to
be delivered prior to or concurrently with the effectiveness of this Amendment, each in form and substance satisfactory to it.

10.             
[reserved]

11.             
Release. Each Loan Party, voluntarily, knowingly, unconditionally and irrevocably, with specific and express
intent, for and on behalf of itself and all of its parents, subsidiaries, affiliates, predecessors, successors and assigns, and
each of their respective current and former shareholders, members, partners, directors, officers, managers, attorneys, agents and
employees (each, a “Releasing Party”), does hereby fully and completely release, acquit and forever discharge
each Indemnified Person of and from any and all actions, causes of action, suits, debts, disputes, damages, claims, obligations,
liabilities, costs, expenses and demands of any kind whatsoever (the foregoing being referred to herein as a “Claim”),
at law or in equity, whether matured or unmatured, liquidated or unliquidated, vested or contingent, choate or inchoate, known
or unknown that such Releasing Party has against any Indemnified Person, whether directly or indirectly, as of the date of this
Amendment, it being understood that the foregoing release shall not release or otherwise affect any Claim arising subsequent to
the date hereof. Each Loan Party acknowledges that the foregoing release is a material inducement to Sterling’s decision
to enter into this Amendment and to agree to the modifications contemplated hereunder.

12.             
No Waiver or Novation. The execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided in this Amendment, operate as a waiver of any right, power or remedy of Sterling, nor constitute a waiver of
any provision of the Loan Documents. Nothing herein is intended or shall be construed as a waiver of any existing Defaults under
the Loan Agreement or other Loan Documents or any of Sterling’s rights and remedies in respect of any such Defaults. This
Amendment (together with any agreement, instrument or other document executed in connection herewith) is not intended to be, nor
shall it be construed as, a novation of the Loan Agreement.

13.             
Affirmation. Except as specifically amended pursuant to the terms hereof, the Loan Agreement and all other
Loan Documents shall remain in full force and effect, and are hereby ratified and confirmed in all respects by the Loan Parties.
Each Loan Party covenants and agrees to comply with all of the terms and conditions of the Loan Agreement (as amended hereby) and
the other Loan Documents, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions on Sterling’s
part which might otherwise constitute or be construed as a waiver of or amendment to such terms and conditions.

14.             
Miscellaneous.

(a)                
Reference in or to the Loan Agreement. Upon the effectiveness of this Amendment, each reference in the Loan
Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of similar
import shall mean and be a reference to the Loan Agreement, as amended by this Amendment.

    	5

     

    

(b)                
Headings. Section headings in this Amendment are included for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose.

(c)                
Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original,
but which together shall be and constitute one and the same document. Signatures by facsimile or by electronic mail delivery of
an electronic version (e.g., .pdf or .tif file) of an executed signature page shall be treated as delivery of an original
and shall bind the parties hereto. This Amendment constitutes the entire agreement and understanding among the parties hereto and
supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof.

[signatures
on following pages]

    	6

     

    

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers as
of the day and year first above written.

 

BORROWERS:

 

	
        AMERI AND PARTNERS INC

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        AMERI100 GEORGIA INC.

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        AMERI100 VIRTUOSO INC.

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        AMERI100 ARIZONA LLC

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer
	 	 

 

	
        AMERI100 CALIFORNIA INC.

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

 

[signatures continue on following
page]

 

signature page 1 to amendment no.7

 

    	

     

    

 

[signatures continued from previous page]

 

GUARANTORS:

 

	
        AMERI HOLDINGS, INC.

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        LINEAR LOGICS, CORP.

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        WINHIRE INC

         

	By:	
        /s/ Iyengar Giri Devanur Sampath

	 	Name:  Iyengar Giri Devanur Sampath
	 	Title:    President and Chief Executive Officer

 

 

	
        /s/ Iyengar Giri Devanur Sampath

	IYENGAR GIRI DEVANUR SAMPATH

 

	
         

         

         

         

        AGREED AND ACCEPTED:

         

        STERLING NATIONAL BANK, as the

        Agent and as the Lender

         

	By:	
        /s/ John La Lota

	 	Name:  John La Lota
	 	Title:    Division President

signature page 2 to amendment no.7Exhibit

Exhibit 10(j)

BRINKER INTERNATIONAL, INC.  
F2018 PERFORMANCE SHARE PLAN

Pursuant to Section 3 of the Brinker International, Inc. Stock Option and Incentive Plan (the “SOIP”), the Compensation Committee of the Board of Directors of Brinker International, Inc. (the “Committee”) may grant stock awards subject to such conditions, restrictions and contingencies as the Committee may determine.  
The Brinker International, Inc. F2018 Performance Share Plan (the “Plan”) is hereby adopted pursuant to the Committee’s authority under the SOIP to provide greater incentive to officers and key employees of Brinker International, Inc. (the “Company”) and its affiliates to achieve the highest level of individual performance and to encourage such officers or key employees to meet or exceed specified performance goals in order to contribute to the overall success of the Company.
The Plan is in all respects subject to the provisions of the SOIP, the terms of which are incorporated herein by reference.
1.Definitions.  For purposes of the Plan, the terms listed below are defined as follows:
a.    Adjusted Diluted WAS. The term “Adjusted Diluted WAS” means actual diluted weighted average shares prepared in accordance with GAAP and adjusted as set forth in the Appendix.
b.    Adjusted Net Income. The term “Adjusted Net Income” means the Company’s actual net income prepared in accordance with GAAP and adjusted to exclude items recorded in the Company’s “Other Gains and Charges” caption on the consolidated statement of comprehensive income and any other items which are excluded from the Company’s net income to determine “Adjusted Net Income” as presented in the quarterly and annual earnings releases.
c.    Affiliate.  The term “Affiliate” means (i) a subsidiary of the Company or (ii) any entity that is designated by the Committee as a participating employer under the Plan, provided that the Company directly or indirectly owns at least 20% of the combined voting power of the common stock of such entity.
d.    Base Year EPS. The term “Base Year EPS” means the Company’s actual adjusted diluted earnings per share and is calculated as the Adjusted Net Income (modified for any applicable adjustments set forth in the Appendix) divided by the Adjusted Diluted WAS, each as determined for the most recent Company fiscal year ended prior to the beginning of the Measurement Period.
e.    Board. The term “Board” means the Board of Directors of the Company. 
f.    Cause.  The term “Cause” means one or more of the following:  

1

(i)    An act of fraud, misappropriation or embezzlement by the Participant in connection with the Company or a Related Company as determined by the affirmative vote of at least a majority of the Board or executive committee thereof;
(ii)    Gross mismanagement or gross neglect of the Participant’s duties to the Company or a Related Company and its policies, procedures or guidelines as determined by the affirmative vote of at least a majority of the Board or executive committee thereof; or
(iii)    Conviction of the Participant by a court of competent jurisdiction of a felony. 
g.    Change in Control.  The term “Change in Control” means:
(i)    a sale, transfer or other conveyance of all or substantially all of the assets of the Company on a consolidated basis; or
(ii)    the acquisition of beneficial ownership (as such term is defined in Rule 13d-3 promulgated under the Exchange Act) by any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than the Company, directly or indirectly, of securities representing 50% or more of the total number of votes that may be cast for the election of directors of the Company; or
(iii)    the failure at any annual or special meetings of the Company’s shareholders held during the three-year period following a “solicitation in opposition” as defined in Rule 14a-6 promulgated under the Exchange Act, of a majority of the persons nominated by the Company in the proxy material mailed to shareholders by the management of the Company to win election to seats on the Board (such majority calculated based upon the total number of persons nominated by the Company failing to win election to seats on the Board divided by the total number of Board members of the Board as of the beginning of such three‐year period), excluding only those who die, retire voluntarily, are disabled or are otherwise disqualified in the interim between their nomination and the date of the meeting.
h.    CAGR. The term “CAGR” means the three-year compound annual growth rate determined using the formula: 
CAGR = (Ending Year EPS /Base Year EPS)^(1/3)-1 
In the event that the Measurement Period ends due to a Change in Control, the CAGR calculation shall be modified to account for the shorter time frame.
i.    Good Reason. The term “Good Reason” means the satisfaction of all of the following requirements:
(i)    One or more of the following facts and circumstances exist: (A) a reduction in the Executive Participant’s then current base salary other than a general reduction in base salary that affects all similarly situated executives in substantially the same proportions; (B) a reduction in the Executive Participant’s target annual bonus opportunity; (C) a relocation of the 

2

principal location at which the Executive Participant is required to provide services by more than fifty (50) miles; (D) the Company’s failure to obtain an agreement from any successor to the Company to assume and agree to perform the obligations under the Plan in the same manner and to the same extent that the Company would be required to perform, except where such assumption occurs by operations of law; (E) a material, adverse change in the Executive Participant’s title, reporting relationship, authority, duties or responsibilities; or (F) in the case of an Executive Participant who is the Chief Executive Officer of the Company only, a failure of any successor to the Company to nominate the Executive Participant for election by shareholders to the successor company’s board of directors; and
(ii)    the Executive Participant shall have provided the Company written notice within thirty (30) days of his or her knowledge or reason to know of the existence of any fact or circumstance constituting Good Reason, the Company shall have failed to cure or eliminate such fact(s) or circumstance(s) within thirty (30) days of its receipt of such notice, and the resulting termination of employment must occur within thirty (30) days following expiration of such cure period.
j.    Disability.  Except as otherwise provided by the Committee, the Participant will be considered to have a “Disability” during the period in which the Participant is unable, by reason of a medically determinable physical or mental impairment, to engage in any substantial gainful activity, which condition is expected to have a duration of not less than 120 days.
k.    Ending Year EPS. The term “Ending Year EPS” means the Company’s actual adjusted diluted earnings per share and is calculated as the Adjusted Net Income (modified for any applicable adjustments as set forth in the Appendix) divided by the Adjusted Diluted WAS, each as determined as of the end of the Measurement Period. 
l.    Executive Participant.  The term “Executive Participant” means a Participant who is the Chief Executive Officer of the Company or a member of the Brinker Leadership Team at the time an Award is granted to such Participant.
m.    Measurement Period.  The term “Measurement Period” means a period of three consecutive Company fiscal years, or such other period as the Committee designates in writing prior to granting an Award pursuant to the Plan, beginning on the date described in a Participant’s Award; provided, however, that in the event of a Change in Control, the Measurement Period will end on the effective date of the Change in Control.
n.    Participant.  The term “Participant” means an individual who has been granted an Award under this Plan.
o.    Performance Period.     The term “Performance Period” means a period of three consecutive Company fiscal years, or such other period as the Committee designates in writing prior to granting an Award pursuant to the Plan, beginning on the date described in a Participant’s Award.  The Performance Period with respect to an Award will commence at the same time as the corresponding Measurement Period for the Award.  The Performance Period and Measurement Period for an Award will run for the same duration unless a Change in Control occurs during the 

3

Performance Period, in which case the Measurement Period, but not the Performance Period, will end as of the effective date of the Change in Control.
p.    Performance Share.  The term “Performance Share” means the right to receive a share of Stock upon satisfaction of the performance metrics and/or other requirements established by the Committee.  
q.    Rule of 70.  The term “Rule of 70” means that the sum of the Participant’s age and the Participant’s years of service with the Company or an Affiliate equals or exceeds 70.
r.    Code Section 409A.  The term “Code Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and all Treasury Regulations and guidance promulgated thereunder.
s.    SOIP Definitions.  Except where the context clearly implies or indicates the contrary, a word, term, or phrase used but not defined in the Plan will have the meaning set forth in the SOIP.
2.    Performance Shares.  
a.    Awards.  A Participant will receive a grant of a target number of Performance Shares determined by the Committee, which will be set forth in the Participant’s award letter or other notification (an “Award”).  
b.    Achieved Shares.  The number of a Participant’s Performance Shares that may be earned under any Award (“Achieved Shares”) will be determined at the end of the applicable Measurement Period based on the Company’s CAGR over the Measurement Period compared to a target CAGR of 10%, as approved by the Committee. To determine the Achieved Shares that may be earned by a Participant (subject to the other terms and conditions of this Plan), the Participant’s target number of Performance Shares is multiplied by the “Distribution Percentage” corresponding to the Company’s CAGR at the end of the Measurement Period (with the target CAGR of 10% equating to a 100% Distribution Percentage). The Distribution Percentage associated with attainment of above- or below-target CAGR is determined using linear interpolation between 0.1% CAGR up to 20.0% CAGR (Ex. 15.1% CAGR = 151% Distribution Percentage), as demonstrated in the table below: 

4

	
		
	Company’s CAGR
	Distribution Percentage (subject to linear interpolation between the modeled CAGR achievement levels)

	<=0.0%
	0%

	1.0%
	10%

	10.0%
	100%

	19.0%
	190%

	>=20.0%
	200%

3.    Earning Achieved Shares.
a.    General Rule.  In order to earn the Achieved Shares under the Plan, a Participant must remain continuously employed by the Company or an Affiliate through the last day of the applicable Performance Period, except as otherwise specifically provided in this Plan. Notwithstanding any provision of the Plan to the contrary, a Participant shall not earn any Achieved Shares following termination of employment.
b.    Death or Disability, Notwithstanding Section 3(a), if a Participant terminates employment with the Company and its Affiliates prior to the last day of the Performance Period due to the Participant’s death or Disability, the Participant will be deemed to have earned the Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, if any.
c.    Retirement Before Age 60.  Notwithstanding Section 3(a), if a Participant ceases to be employed with the Company and its Affiliates prior to the last day of the Performance Period, and as of the date of the termination the Participant has (i) satisfied the Rule of 70 and (ii) the Participant is at least age 55 but not yet age 60, the Participant will earn, as of the date of termination, a portion of the Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, if any, based on the number of complete months that the Participant was employed by the Company or an Affiliate during the Performance Period, divided by the total number of complete months in the Performance Period. 
d.    Retirement at or After Age 60.  Notwithstanding Section 3(a), if a Participant ceases to be employed with the Company and its Affiliates prior to the last day of the Performance Period, and as of the date of the termination the Participant has (i) satisfied the Rule of 70 and is at least age 60, or (ii) the Participant is at least age 65 regardless of satisfaction of the Rule of 70, the Participant will earn, as of the date of termination, all of the Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, if any.
e.    Involuntary Termination.  

5

(i)    Involuntary Terminations without Cause Not Following a Change in Control.  Notwithstanding Section 3(a), if a Participant is involuntarily terminated for a reason other than for Cause prior to the last day of the Performance Period, the Participant will earn, as of the date of termination from employment, except as otherwise provided below, a portion of the Participant’s Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, if any, based on the number of complete months that the Participant was employed by the Company or an Affiliate during the Performance Period, divided by the total number of complete months in the Performance Period.
(ii)    Certain Involuntary Terminations without Cause or Terminations (by Executive Participants only) for Good Reason Following a Change in Control. Notwithstanding Sections 3(a) and 3(e)(i), in the event there has been a Change in Control during the Performance Period and the Awards were not earned as of the effective date of the Change in Control pursuant to Section 3(f), then if a Participant is involuntarily terminated for a reason other than Cause or if an Executive Participant terminates for Good Reason following the Change in Control and prior to the last day of the Performance Period, the Participant will earn, as of the date of termination, all of the Participant’s Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, if any.
f.    Change in Control.  Notwithstanding the provisions of Section 3(a), in the event of a Change in Control while the Participant remains in employment, if the Awards are not assumed or replaced with awards of substantially equal value by the acquiring entity in such a Change in Control and/or cease to remain outstanding immediately following the Change in Control, each Participant will earn, as of the effective date of the Change in Control, the Achieved Shares determined for the Participant at the end of the Measurement Period pursuant to Section 2, but in no event less than 100% of the target number of the Participant’s Performance Shares.  After a Change in Control, references to the “Company” as they relate to this Plan shall refer to the successor entity.
g.    Most Favorable Provision Applies.  For the avoidance of doubt, if two or more of Sections 3(b) through 3(f) above apply, then the applicable Section that results in the Participant earning the greatest number of Achieved Shares shall control.
4.    Forfeiture.  Except as otherwise provided in Section 3, if a Participant ceases to be employed by the Company or any Affiliate prior to the last day of the Performance Period, the Participant will immediately forfeit the Performance Shares and all interest in the Award as of the date of the Participant’s termination and the Participant will not be entitled to receive any payment with respect to the Performance Shares.  Notwithstanding any provision of the Plan to the contrary, the Participant will forfeit any Performance Shares immediately and without notice upon (A) the termination of the Participant’s employment for Cause, (B) the Participant’s breach of any confidentiality agreement or similar agreement pertaining to the confidentiality and nondisclosure of proprietary information, including but not limited to trade secrets, of the Company or any Affiliate, or (C) the Participant’s commission of any act of malfeasance or wrongdoing affecting the Company or any Affiliate.  Furthermore, and notwithstanding Section 3, if subsequent to the Participant’s termination of employment with the Company or any Affiliate (other than due to a 

6

termination following a Change in Control without Cause or for Good Reason, as applicable) and prior to the end of the Performance Period, the Participant becomes employed by, consults with, and/or participates as an officer, director, employee, independent contractor, adviser, consultant, partner, principal, or shareholder (with more than five percent (5%) equity) with any entity which owns and/or operates (either directly or indirectly) or is engaged, or planning to be engaged (either directly or indirectly) in the ownership and /or operation of any of the “Competitive Restaurants” listed below or successors thereto, then the Participant’s Award will be immediately forfeited.
	
				
	1
	Ale House Restaurant
	29
	Landry's Seafood

	2
	Applebee's
	30
	Legal Sea Foods

	3
	Beef O'Brady's
	31
	Longhorn Steakhouse

	4
	Bennigan's Tavern
	32
	McCormick & Schmick's

	5
	BJ's Restaurant and Brewhouse
	33
	McDonald's

	6
	Bonefish Grill
	34
	Miller's Ale House Restaurant

	7
	BRAVO! Cucina Italiana
	35
	Morton's of Chicago

	8
	Brio Tuscan Grille
	36
	O'Charleys

	9
	Buca di Beppo
	37
	Olive Garden

	10
	Buffalo Wild Wings
	38
	On The Border

	11
	California Pizza Kitchen
	39
	Outback Steakhouse

	12
	Carino's Italian Grill
	40
	Palm Restaurant

	13
	Carraba's Italian Grill
	41
	Panera

	14
	Champps Americana
	42
	Pappadeaux Seafood Kitchen

	15
	Cheddar's Casual Café
	43
	PF Chang's China Bistro

	16
	Cheesecake Factory
	44
	Pizza Hut

	17
	Chipotle Mexican Grill
	45
	Red Robin

	18
	Chuy's
	46
	Romano's Macaroni Grill

	19
	Cracker Barrel
	47
	Ruby Tuesday

	20
	Dave & Busters
	48
	Ruth's Chris Steak House

	21
	Fogo De Chao
	49
	Seasons 52

	22
	Fuddruckers
	50
	Taco Bell

	23
	Hooters
	51
	Texas Roadhouse

	24
	Houlihans
	52
	TGI Fridays

	25
	Houston's/Hillstone
	53
	Uno Chicago Grill

	26
	Il Fornaio Restaurant
	54
	Wendy's

	27
	J Alexanders
	55
	Yard House

	28
	KFC
	 
	 

5.    Payment of Earned Achieved Awards.  Each earned Achieved Share will entitle a Participant to receive one share of Stock (or other consideration of equal value, as determined by the Committee, in the event payment is made following a Change in Control).  Subject to Section 6, shares of Stock (or other consideration, as applicable) with respect to earned Achieved Shares will be issued to each such Participant in payment of an Award during the 60-day period 

7

immediately following the conclusion of the applicable Performance Period.  The Company will issue a like number of shares of Stock (or other consideration, as applicable) to the Participant, and the Participant will own such shares of Stock (or other consideration, as applicable) free of all restrictions described herein.  A Participant will not have the right to designate the taxable year of payment.  At no time prior to the end of the Performance Period will any Stock (or other consideration, as applicable) be issued pursuant to an Award.  
6.    Section 409A.  
a.    Although the Company does not guarantee the tax treatment of any payments or benefits under the Plan, the intent of the Company is that the payments and benefits under this Plan be exempt from, or comply with, Code Section 409A and to the maximum extent permitted the Plan shall be limited, construed and interpreted in accordance with such intent.  In no event whatsoever shall the Company or its Affiliates or their respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on a Participant by Code Section 409A or damages for failing to comply with Code Section 409A.
b.    Notwithstanding the foregoing or any other provision of this Plan to the contrary, if at the time of a Participant's “separation from service” (within the meaning of Code Section 409A), the Participant is a "Specified Employee," then the Company will defer the payment of any nonqualified deferred compensation subject to Code Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to the Participant) until the date that is six (6) months following separation from service or, if earlier, the earliest other date as is permitted under Code Section 409A (and any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if applicable).  A Participant will be a "Specified Employee" for purposes of this Plan if, on the date of the Participant's separation from service, the Participant is an individual who is, under the method of determination adopted by the Company designated as, or within the category of employees deemed to be, a "Specified Employee" within the meaning and in accordance with Treasury Regulation Section 1.409A-1(i).  The Company shall determine in its sole discretion all matters relating to who is a "Specified Employee" and the application of and effects of the change in such determination. 
c.    Notwithstanding anything in this Plan or elsewhere to the contrary, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Plan providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning of Code Section 409A upon or following a termination of a Participant’s employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Plan, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” and the date of such separation from service shall be the date of termination for purposes of any such payment or benefits. 
7.    Dividends and Dividend Equivalents.  A Participant will have no voting rights or dividend rights with respect to the Performance Shares or any shares of Stock underlying the Performance Shares during the Performance Period.  No Participant will be entitled to receive 

8

any cash dividends or dividend equivalents with respect to Performance Shares during the Performance Period.  However, at the same time that shares of Stock are issued under Section 5 or Section 6, the Participant (or the Participant’s beneficiary determined in accordance with Section 10) will also receive a lump sum cash payment equal to the amount of cash dividends paid by the Company that were declared during the Performance Period on the number of shares of Stock issued to the Participant (or the Participant’s beneficiary).
8.    Capital Adjustments and Reorganizations.  The number of Performance Shares covered by an Award will be subject to equitable adjustment, as determined by the Committee, to reflect any stock dividend, stock split, share combination, separation, reorganization, liquidation or the like, of or by the Company.  In the event of any such transaction or event, the Committee, in its discretion, may provide in substitution for the Award such alternative consideration as it, in good faith, may determine to be equitable in the circumstances and may require in connection with such substitution the surrender of the Award so replaced.  
9.    Clawback Provisions.  If the Participant is an officer of the Company (“Officer”) and the Board, or an appropriate committee thereof, has determined that any fraud, negligence, or intentional misconduct by the Officer was a significant contributing factor to the Company having to restate all or a portion of its financial statement(s), the Board or committee shall take, in its discretion, such action as it deems necessary to remedy the misconduct and prevent its recurrence.  In determining what remedies to pursue, the Board or committee will take into account all relevant factors, including whether the restatement was the result of fraud, negligence, or intentional misconduct.  The Board will, to the extent permitted by applicable law, in all appropriate cases, require reimbursement of any bonus or incentive compensation paid to the Officer, cause the cancellation of restricted or deferred stock awards and outstanding stock options, and seek reimbursement of any gains realized on the exercise of stock options attributable to such awards, if and to the extent that (a) the amount of incentive compensation was calculated based upon the achievement of certain financial results that were subsequently reduced due to a restatement, (b) the Officer engaged in any fraud or misconduct that caused or contributed to the need for the restatement, and (c) the amount of the bonus or incentive compensation that would have been awarded to the Officer had the financial results been properly reported would have been lower than the amount actually awarded.  In addition, the Board may dismiss the Officer, authorize legal action, or take such other action to enforce the Officer’s obligations to the Company as it may deem appropriate in view of all the facts surrounding the particular case.  The Company will not seek to recover bonuses or other compensation as detailed above paid more than three years prior to the date the applicable restatement is disclosed.
10.    Heirs and Successors.  This Plan will be binding upon, and will inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business.  Subject to the terms of the SOIP, any consideration or other benefits distributable to a deceased Participant under this Plan will be distributed to the beneficiary designated by the Participant in writing filed with the Committee in such form as the Committee will require.  If a deceased Participant has failed to designate a beneficiary, or if the designated beneficiary of the deceased Participant dies before the Participant or before complete distribution 

9

of consideration or other benefits due under this Plan, the consideration or other benefits to be distributed under this Plan will be distributed to the legal representative or representatives of the estate of the last to die of the Participant and the beneficiary.
11.    Taxes, Transaction Costs and Withholding.  A Participant will be solely responsible for the payment of all taxes and transaction costs relating to the granting, vesting/earning and payment of an Award.  It will be a condition to the obligation of the Company to issue or transfer shares of Stock or other applicable consideration that the Participant pay to the Company, upon its demand, such amount as may be requested by the Company for the purpose of satisfying its liability to withhold federal, state or local income or other taxes incurred in connection with the Award.  If the amount requested is not paid, the Company may refuse to issue or transfer shares of Stock or other applicable consideration to the Participant (or to the Participant’s beneficiary).
12.    Administration.  The authority to interpret and administer the terms and conditions of the Plan will be vested in the Committee, and the Committee will have all powers with respect thereto as it has with respect to the SOIP.  Any interpretation of the Plan by the Committee and any decision made by it with respect to the Plan is final and binding.
13.    Relation to SOIP.  Notwithstanding anything in the Plan to the contrary, the terms of the Plan will be subject to the terms of the SOIP, a copy of which may be obtained from the office of the Secretary of the Company.  Any amendment to the SOIP will be deemed to be an amendment to the Plan to the extent that the amendment is applicable hereto.
14.    No Employment Contract.  Nothing contained in the Plan will (a) confer upon a Participant any right to be employed by or remain employed by the Company or any Affiliate, or (b) limit or affect in any manner the right of the Company or any Affiliate to terminate the employment or adjust the compensation of a Participant.
15.    Unfunded Plan.  It is the Company’s intention that the Plan be unfunded.  The Company is not required to set aside any assets for payment of the benefits provided under the Plan, and no Participant will have a security interest in any Award.  
16.    Governing Law.  The interpretation, performance, and enforcement of the Plan will be governed by the laws of the State of Texas, without giving effect to the principles of conflict of laws thereof and all parties, including their successors and assigns, consent to the jurisdiction of the state and federal courts of Texas.

[Remainder of page intentionally left blank.]

10

Appendix to the Brinker International, Inc. F2018 Performance Share Plan
1)    Adjustments to EPS. The calculations of Ending Year EPS and Base Year EPS will reflect the following adjustments.
(a)Accounting and Tax Changes.  The Ending Year EPS and Base Year EPS calculations will be adjusted to neutralize any impacts associated with (i) changes in accounting principles pursuant to accounting pronouncements adopted during the Measurement Period and (ii) changes in tax laws and regulations (including, but not limited to, unplanned and/or unanticipated changes in tax rates) taking effect during the Measurement Period.
(b)    Performance Plan Share Dilution. Undistributed Performance Shares will be excluded from the Adjusted Diluted WAS calculations.
(c)    Compensation Plan Expense. For purposes of the Ending Year EPS and Base Year EPS calculations, the expense related to any performance share plans (including any stock option plans) of the Company (or awards thereunder) which contain performance objectives based on the Company’s earnings per share (the “Applicable Performance Share Plans”), and any profit sharing plans of the Company (the “Applicable Profit Sharing Plans”), will be determined as follows: (i) the expense with respect to each Applicable Performance Share Plan will be equal to the planned expense with respect to such plan as of the beginning of each applicable measurement period thereunder; and (ii) the expense with respect to each Applicable Profit Sharing Plan will be equal to the planned expense with respect to such plan for each performance year (or other applicable performance period) thereunder, all as determined by the Company in its sole discretion.  Expenses related to any performance share plans of the Company (or awards thereunder) other than the Applicable Performance Share Plans will not be adjusted in the Ending Year EPS or Base Year EPS calculation.
(d)    Brand or Business Dispositions.  Any profit or loss associated with the disposition or sale of a brand or business will be excluded from the Ending Year EPS calculation.  Any related impacts to interest expense, weighted average number of shares, and profit associated with the disposed brand or business will be reflected in Base Year EPS and/or Ending Year EPS to the extent necessary to neutralize the impact of the event in both calculations. Associated disposition costs, including but not limited to transaction, transition, disintegration or restructuring will be excluded from the Ending Year EPS calculation.
(e)    Brand or Business Acquisition. All profit or loss associated with the acquired brand or business, including associated changes to interest expense, as reported in the Company’s Adjusted Net Income, will be included in the Ending Year EPS calculation. Associated acquisition costs, including but not limited to transaction, transition, integration or restructuring, will be excluded from Ending Year EPS calculation.
(f)    Refranchised Restaurants. Any gain or loss from refranchising will be excluded from the Ending Year EPS calculation.  Any related impacts to interest expense, weighted average number of shares, and royalties or profit associated with the refranchised restaurants will be reflected in 

11

Base Year EPS and/or Ending Year EPS to the extent necessary to neutralize the impact of the event in both calculations.
(g)    Relocation of Brinker International, Inc. Restaurant Support Center.  Any impacts associated with relocating the Brinker International, Inc. Restaurant Support Center will be reflected in Base Year EPS and/or Ending Year EPS to the extent necessary to neutralize the impact of the event in both calculations.
(h)    Strategic Events.  Any unplanned impact of restructurings, acquisitions and divestitures will be adjusted in Base Year EPS and/or Ending Year EPS to the extent necessary to neutralize the impact of the event in both calculations.
(i)    External Events.  Expenses incurred in connection with extraordinary, non-recurring events (such as natural disasters, terrorist attacks, pandemics, industry-wide food-borne illness, etc.) will be adjusted in Base Year EPS and/or Ending Year EPS to the extent necessary to neutralize the impact of the event in both calculations.

[End of document.]

12

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