Document:

Employment Agreement

 EXHIBIT 10.18 
 EMPLOYMENT AGREEMENT 
 AGREEMENT made as of the 4th day of January, 2007, between D&E
Communications, Inc., a Pennsylvania business corporation, having its principal office at 124 East Main Street, Ephrata, PA 17522-0458 (“D&E”) and W. Garth Sprecher, having an address of 2027 Wynfield Drive, Lancaster, PA 17601
(“Executive”). 
 BACKGROUND 
 D&E desires to employ Executive on a contractual basis as its Senior Vice President and Secretary, and Executive desires to accept such position, on the terms and conditions set forth below. 
 NOW THEREFORE, intending to be legally bound hereby, the parties agree as follows: 
 AGREEMENT 
 1. Employment. D&E hereby agrees to employ the Executive
for a fixed term, as more particularly set forth herein, and provide Executive with certain change in control benefits, in exchange for which Executive accepts the terms and conditions set forth herein governing his employment, including the
restrictive covenants set forth herein. 
 2. Term. Executive’s employment hereunder shall be for a term commencing on
January 4, 2007 and ending on December 31, 2007 (the “Term”). 
 3. Compensation. 
 (a) Salary. Executive will be paid an annual salary of $200,000, subject to adjustment as provided below (the
“Salary”), which will be payable in equal periodic installments according to D&E’s customary payroll practices, but no less frequently than monthly. 
 (b) Benefits. Benefits for the Executive and his family will be the same , in the aggregate, to those provided by D&E to
similarly situated D&E executive officers (“similarly situated D&E executive officers” shall mean the “named executive officers” in D&E’s proxy statement) as of the date hereof, including participation in such
pension, profit sharing, bonus, life insurance, disability insurance, hospitalization, major medical, and other employee benefit plans of D&E that may be in effect from time to time, to the extent Executive is eligible under the terms of those
plans (collectively, the “Benefits”). 
 (i) Executive shall participate, from the effective date of this
Agreement, in the D&E Supplemental Retirement Plan (the “SERP”), the form of which is attached hereto as Exhibit A which is a plan of deferred compensation that provides for an annual supplemental retirement benefit equal
to the additional qualified retirement benefit the Executive would accrue under the D&E Communications, Inc. Employee’s Retirement Plan (the “Qualified Retirement Plan”). 
  

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 (ii) Short-Term Incentive Plan. As additional compensation for the services to be
rendered by Executive pursuant to this Agreement, Executive will be eligible to participate in such executive level bonus/incentive programs and plans as may be in effect from time to time as approved by the Board of Directors of D&E. Executive
shall be eligible for a targeted Short-term Incentive Plan bonus at the end of calendar year 2007 at twenty-five percent (25%) of his Salary as defined in D&E’s Short Term Incentive Plan. The target is neither a minimum nor a cap on
any bonus. 
 (c) Paid Time Off. Executive shall be entitled to six (6) weeks of paid time off per year during the
term of his employment, or such greater amount commensurate with periods of paid time off as may from time to time be provided for similarly situated D&E executive officers. 
 (d) Expense Reimbursement. D&E will reimburse Executive for reasonable expenses incurred by Executive in the performance of
Executive’s duties pursuant to this Agreement in accordance with D&E’s regular reimbursement policies, as in effect from time to time and upon receipt of itemized vouchers therefor and such other supporting information as D&E may
reasonably request. 
 (e) Automobile. D&E will provide Executive with either a company car or related
reimbursement, in the discretion of D&E, similar to that provided for similarly situated D&E executive officers. 
 (f) Reservation of Right to Amend Benefit Plans. Executive understands that from time to time it may be necessary for economic and business reasons for D&E to amend any of its benefit plans, which amendments may involve the
increase, decrease or change of form of a benefit. Executive’s employment pursuant to this Agreement shall be subject to any such amendments, and any such amendments applicable to all D&E employees, or the specific class thereof of which
Executive is a member, that impacts Executive’s benefit package hereunder shall not be a breach of this Agreement by D&E. In no event, however, shall any such amendment deprive Executive of any Benefit that has vested or is then otherwise
owed to Executive under this Agreement, the SERP, D&E’s Short-term Incentive Plan, D&E’s Long-term Incentive Plan or any of D&E’s pension, profit sharing, bonus or short-term or long-term disability plans. 
 4. Duties. The Executive shall serve as the Senior Vice President and Secretary of D&E, reporting to the Chief Executive Officer , and have
the normal duties, responsibilities and authority associated with such position including, without limitation, those set forth in Exhibit B attached and made a part hereof, as well as such duties (which are reasonably consistent with
Executive’s primary duties) as shall be assigned to him from time to time by the Chief Executive Officer. In the event Executive is assigned additional duties by either the Chief Executive Officer or Board of Directors that result in a material
change in Executive’s duties as provided under this Agreement, Executive shall be entitled to receive additional compensation commensurate with the additional duties. The Executive shall devote his entire working time and 

  

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attention to D&E’s business. During the term of this Agreement, Executive shall not be employed by, or participate or engage in or be a part of in
any manner the management or operations of any business enterprise other than D&E without the prior written consent of D&E, which consent may be granted or withheld in its sole discretion; provided, however, that Executive may, while he
remains employed by D&E, participate in reasonable charitable, social, teaching, educational and civic activities, as well as industry trade groups and associations and personal investment activities, so long as such activities do not interfere
with the performance of Executive’s obligations under this Agreement, as well as those activities set forth on Exhibit C attached hereto. 
 5. Termination of Employment. 
 (a) Due To Death, Disability, For Cause or Without
Good Reason. 
 (i) For Cause. If the Executive’s employment shall be terminated by D&E for Cause, D&E
shall pay the Executive his full Salary, plus any accrued paid time off, through the date of termination at the rate in effect at the time of termination, any Benefits that have vested or are otherwise owed to Executive, and D&E shall have no
further obligation to the Executive under this Agreement. “Cause” shall mean: 
 (a) the failure by the
Executive to substantially perform his duties hereunder after notice from D&E and a failure to cure such violation within thirty (30) days of the date of said notice or, if said violation cannot be cured within such period of time, within a
reasonable time thereafter, if the Executive is diligently attempting to cure the violation, but in no event longer than 60 days from the date of the notice; 
 (b) the engaging by the Executive in misconduct injurious to D&E; 
 (c) the dishonesty or gross negligence of the Executive in the performance of his duties; 
 (d) material violation by Executive of D&E’s Code of Business Conduct and Ethics; 
 (e) use by the Executive of alcohol which interferes with the performance of his duties; 
 (f) use by the Executive of illegal drugs; 
 (g) the breach of Executive’s fiduciary duty involving personal profit; 
 (h) the
violation by the Executive of any law, rule or regulation which jeopardizes the business of D&E; 
  

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 (i) moral turpitude or other conduct on the part of Executive which brings public
discredit to D&E; 
 (j) commission by Executive of workplace violence or harassment; or 
 (k) the material violation by the Executive of any provision of this Agreement or any policy of D&E not already addressed above after
notice from D&E and a failure to cure such violation within thirty (30) days of the date of said notice or, if said violation cannot be cured within such period of time, within a reasonable time thereafter, if the Executive is diligently
attempting to cure the violation, but in no event longer than 60 days from the date of the notice. 
 The foregoing notwithstanding, any actions undertaken
by Executive at the specific direction of the Board of Directors or based upon the advice of corporate counsel shall not constitute “Cause” hereunder, even if such action is arguably within the ambit of any of subsections (a) through
(k) above. 
 (ii) Death or Disability. If the Executive’s employment shall be terminated due to
Executive’s Disability, D&E shall pay the Executive his full Salary and any accrued paid time off through the date of termination, and any Benefits that have not vested or are then otherwise owed to Executive, including but not limited to
short-term and/or long-term disability benefits, and D&E shall have no further obligation to the Executive under this Agreement. If the Executive’s employment shall be terminated due to Executive’s death, D&E shall pay the
Executive’s designated beneficiaries, or if no designated beneficiaries, pay to Executive’s heirs his full Salary, plus any accrued paid time off and any Benefits that have vested or are then otherwise owed to Executive through the date of
termination and for one full month (4 weeks) following the date of termination. All stock options and performance restricted shares held by Executive shall immediately vest to the extent provided in the 1999 Long Term Incentive Plan and any
applicable award agreements and D&E shall have no further obligation to the Executive under this Agreement. “Disability” shall have the meaning given to the term “total disability” in the D&E Short Term Disability
Program. Nothing in this provision shall be interpreted to limit the Executive’s rights to recover benefits under any applicable disability insurance policy. 
 (iii) Without Good Reason. If Executive desires to terminate his employment without Good Reason, Executive shall provide D&E
with at least 60 days’ prior written notice of the effective date of such termination. Until the effective date of termination, Executive shall continue to fulfill his duties under this Agreement. D&E shall continue to pay Executive his
normal Salary through the effective date of termination, plus any accrued paid time off any Benefits that have vested or are then otherwise owed to Executive, and D&E shall have no further obligation to the Executive under this Agreement.
D&E may, in its discretion, request that Executive cease to perform his duties under this Agreement at any time following its receipt of notice of termination and prior to 

  

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the effective date of termination but, in such event, Executive shall still be entitled to be paid his normal Salary, plus any accrued vacation, and any
Benefits that have vested or are then otherwise owed to Executive, through the effective date of termination. 
 (b)
Without Cause or for Good Reason. If the Executive’s employment is terminated without Cause by D&E, or is terminated by Executive for Good Reason, then D&E shall pay the Executive his full Salary from the date of termination
through the last day of the then current Term. In addition, the Executive shall be entitled to: (i) an additional annual retirement benefit pursuant to the terms of the SERP, such that the Executive is treated as if he had remained employed by
D&E through the end of the then current Term. The benefit provided under the SERP is intended to be in addition to the Qualified Retirement Plan benefit payable to the Executive regardless of whether the Executive has satisfied the vesting
requirements of such plan(s); and (ii) payment of the amount that would have been due to the Executive under any Short-term Incentive Plan in effect at the time of Executive’s termination had the Executive remained employed by D&E
through the end of the incentive period relating thereto. Any such incentive payment shall be due and payable only at the time and in the manner provided for in the plan relating thereto. Termination for “Good Reason” shall mean
termination by the Executive of his employment due to: 
 (i) any material adverse change in the position, responsibilities,
authority or duties assigned to the employee, as contemplated by Paragraph 4, without his consent, except in connection with the termination of the Executive’s employment for Cause; 
 (ii) failure of D&E or any successor or assign to comply with Paragraph 3 hereof in any material manner; 
 (iii) requiring the Executive to be based anywhere that is 75 miles or more distant from the Executive’s current place of work,
without his consent, except for required travel on D&E’s business to an extent substantially consistent with his present business travel obligations; 
 (iv) a requirement by D&E or its successor that Executive, in his reasonable judgment take an action that would violate the
requirements of generally accepted accounting standards, the regulations of the Securities and Exchange Commission, applicable stock exchange listing standards or D&E’s Code of Business Conduct and Ethics; 
 (v) failure of D&E, its successors or assigns, to obtain and maintain officers and directors liability insurance in accordance with
Paragraph 9; or 
 (vi) failure of any successor or assign of D&E to assume this Agreement and honor its provisions, or
any material breach of this Agreement by D&E or its successor or assign. 
  

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 If the Executive intends to terminate his employment for Good Reason, he must first give notice to
D&E that such action or limitation of D&E constitutes Good Reason. The Executive’s employment shall be deemed terminated for Good Reason if D&E fails to cure such situation within thirty (30) days of the date of said notice or,
if said situation cannot be cured within such period, within a reasonable time thereafter, if a diligent effort is being made to cure such situation, but in no event longer than 60 days from the date of the notice. Notwithstanding the foregoing, in
the event the Executive is a key employee (as defined in Internal Revenue Code Section 416(i)) of the Company as of the last day of the calendar year preceding the date a benefit becomes payable under this Paragraph 5(b), distribution of that
portion of the Executive’s payment attributable to the termination of his employment for Good Reason, shall be made or commenced six months after the date the benefit would otherwise have been paid pursuant to the foregoing provisions of this
Paragraph 5(b). This six month period shall be shortened to the extent that counsel to D&E believes that it is then permissible under Section 409A of the Internal Revenue Code of 1986, as amended, without the imposition of an excise tax.

 If the Executive dies while receiving severance payments under this paragraph 5(b), then the remaining balance of severance payments due
shall be paid to his designated beneficiaries, or if no beneficiaries are designated, then to the Executive’s heirs. 
 6.
Restrictive Covenants. 
 (a) During the Term of this Agreement and during the Restricted Period, the Executive shall
not Compete with D&E in the Territory. For purposes of the foregoing, (i) “Territory” shall mean any city or county in which D&E provides, offers or plans to provide or offer its services determined as of the date of
termination of Executive’s employment, provided that any such plan to offer or provide services has been discussed at the executive level of D&E and memorialized in an internal memorandum or other writing prior to the termination of the
Executive’s employment. “Territory” shall not include any additional geographical location of any successor to D&E by purchase, merger, consolidation, acquisition of assets or otherwise; (ii) “Compete” shall
mean the direct or indirect ownership, management, operation, control, employment by, participation in, or connection in any manner with the ownership, management, operation or control of any business which is engaged in providing the types of
communications goods or services, or any other line of business, in which D&E is engaged at the time of Executive’s termination including, if applicable and without limitation, wireline, wireless, internet access, VOIP, broadband or any
similar communications means, , whether as an individual on his own, as a partner, joint venturer, officer, shareholder, employee, agent, independent contractor, lessor, creditor or otherwise; and (iii) “Restricted Period”
shall mean a period of one (1) year from and after the date of termination of this Agreement, provided that, if the Executive’s employment is terminated pursuant to Paragraphs 5(a) or 5(b), the Restricted Period shall be the same as the
period during which the Executive is entitled to Salary payments under Paragraphs 5(a) and 5(b). The foregoing restrictive covenant will be effective only if Executive receives the payments to which he is entitled under Paragraphs 5(a) or 5(b). The
foregoing restrictive covenant shall not be construed to prohibit the ownership by Executive of up to five percent (5%) of any class of securities of any corporation which is 

  

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in competition with D&E, provided that such ownership represents a passive investment and that neither Executive nor any group of persons including
Executive in any way, either directly or indirectly, manages or exercises control of any such corporation, guarantees any of its financial obligations, otherwise takes any part in its business, other than exercising his rights as a shareholder, or
seeks to do any of the foregoing. 
 (b) During the Term of his employment hereunder and for ten (10) years following
termination, the Executive shall not, without the prior written consent of an authorized officer of D&E, disclose to any person, other than an employee of D&E or a person to whom disclosure is reasonably necessary or appropriate in
connection with the performance by the Executive of his duties, any material confidential information, defined as information protected under Section 5302 of the Pennsylvania Uniform Trade Secrets Act, 12 Pa. C.S. §5301, et seq., obtained
by him while in the employ of D&E with respect to any of D&E’s or its affiliates’ business plans and strategies, pricing and pricing strategies, engineering and technical data, services, products, customers, sales records, methods
of business or any business practices the disclosure of which could be or will be materially damaging to D&E or its affiliates (the “Confidential Information”); provided, however, that confidential information shall not include
any information known generally to the public (other than as a result of unauthorized disclosure by the Executive or any person with the assistance, consent or direction of the Executive) or any information of a type not otherwise considered
confidential by persons engaged in the same business or a business similar to that conducted by D&E or any information that must be disclosed as required by law or governmental authority. 
 (c) Executive agrees, for a period of one (1) year following termination of his employment with D&E, (i) not to solicit any
D&E employees or officers to leave D&E to accept employment by Executive or his new employer; and (ii) not to solicit or encourage any D&E customers to cease doing business with D&E and/or to transfer any or all of their
business relationships to any institution which Executive may found or to Executive’s new employer. 
 (d) Executive
agrees that he will not disparage D&E in any communications of any nature with any third parties, including but not limited to shareholders of D&E or its vendors, customers and suppliers, regarding any matters related to D&E during or
following termination of his employment. The foregoing prohibition is not intended to, and should not be construed as, preventing Executive from fulfilling any duty to report accounting issues pursuant to the requirements of the Sarbanes Oxley Act
and any regulations promulgated thereunder, or otherwise providing truthful information to third parties. 
 (e) Executive
acknowledges and agrees that the covenants contained herein are fair and reasonable in light of the consideration paid hereunder, and that damages alone shall not be an adequate remedy for any breach by Executive of his covenants which then apply
and accordingly expressly agrees that, in addition to any other remedies which the D&E may have, D&E shall be entitled to injunctive relief in any court of competent jurisdiction for any breach or threatened breach of any such covenants by
Executive. Nothing contained herein shall prevent or delay D&E from seeking, in any court of competent jurisdiction, specific performance or other equitable remedies in the event of any breach or intended breach by Executive of any of his
obligations hereunder. 
  

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 (f) The period of time applicable to any covenant in this Paragraph 6 will be extended by
the duration of any violation by Executive of such covenant. 
 (g) If any covenant in Paragraph 6 is held to be unreasonable,
arbitrary, or against public policy, such covenant will be considered to be divisible with respect to scope, time, and geographic area, and such lesser scope, time, or geographic area, or all of them, as a court of competent jurisdiction may
determine to be reasonable, not arbitrary, and not against public policy, will be effective, binding, and enforceable against Executive. 
 7. D&E Property. The Executive will not remove from D&E’s premises (except to the extent such removal is for purposes of the performance of the Executive’s duties at home or while traveling, or except as otherwise
specifically authorized by D&E) any document, record, notebook, plan, model, component, device, or computer software or code, whether embodied in a disk or in any other form (collectively, the “Proprietary Items”). The Executive
recognizes that, as between D&E and the Executive, all of the Proprietary Items, whether or not developed by the Executive, are the exclusive property of D&E. Upon termination of this Agreement by either party, or upon the request of D&E
during the Term, the Executive will immediately return to D&E all of the Proprietary Items in the Executive’s possession or subject to the Executive’s control, and the Executive shall not retain any copies, abstracts, sketches, or
other physical embodiment of any of the Proprietary Items. 
 8. Employee Inventions. 
 (a) Each Employee Invention will belong exclusively to D&E. The Executive acknowledges that all of the Executive’s writing, works
of authorship and other Employee Inventions are works made for hire and the property of D&E, including any copyrights, patents or other intellectual property rights pertaining thereto. If it is determined that any such works are not works made
for hire, the Executive hereby assigns to D&E all of the Executive’s right, title, and interest, including all rights of copyright, patent and other intellectual property rights, to or in such Employee Inventions. The Executive covenants
that he will promptly: 
 (i) disclose to D&E in writing any Employee Invention; 
 (ii) assign to D&E or to a party designated by D&E, at D&E’s request and without additional compensation, all of the
Executive’s right to the Employee Invention for the United States and all foreign jurisdictions; 
 (iii) execute and
deliver to D&E such applications, assignments, and other documents as D&E may request in order to apply for and obtain patents or other registrations with respect to any Employee Invention in the United States and any foreign jurisdictions;

 (iv) sign all other papers necessary to carry out the above obligations; and 
  

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 (v) give testimony and render any other assistance, but without expense to the Executive,
in support of D&E’s rights to any Employee Invention. 
 (b) For purposes of the foregoing, “Employee
Invention” shall mean any idea, invention, technique, modification, process, or improvement (whether patentable or not), any industrial design (whether registerable or not) and any work of authorship related to the business of D&E
(whether or not copyright protection may be obtained for it) created, conceived, or developed by the Executive, either solely or in conjunction with others, during the Term, or a period that includes a portion of the Term, that relates in any way
to, or is useful in any manner in, the business then being conducted or proposed to be conducted by D&E, and any such item created by the Executive, either solely or in conjunction with others, following termination of the Executive’s
employment with the Employer, that is based upon or uses Confidential Information. 
 9. Indemnification. D&E shall indemnify and
hold harmless the Executive, to the fullest extent permitted by Pennsylvania law and D&E’s Articles of Incorporation and By-Laws, whichever affords greater protection, with respect to any threatened, pending or completed action, suit or
proceeding brought against him by reason of the fact that he is or was a director, officer, employee or agent of D&E or is or was serving at the request of D&E as a director, officer, employee or agent of another person or entity. To the
fullest extent permitted by Pennsylvania law and D&E’s Articles of Incorporation and By-Laws, D&E shall, in advance of final disposition, advance expenses (including, without limitation, attorney’s fees) incurred by the Executive
in connection with any threatened, pending or completed action, suit or proceeding with respect to which the Executive may be entitled to indemnification hereunder; provided, however, that the Executive agrees to reimburse D&E all such monies
advanced if the presiding court finds that he is not entitled to be indemnified by D&E under Pennsylvania law or D&E’s Articles of Incorporation and By-Laws. The Executive’s right to indemnification provided herein is not exclusive
of any other rights of indemnification to which the Executive may be entitled under any bylaw, agreement, vote of shareholders or otherwise, and shall continue beyond the term of this Agreement. D&E shall use its best efforts to obtain insurance
coverage for the Executive under an insurance policy covering officers and directors of D&E against lawsuits, arbitrations or other proceedings, provided, however, that nothing herein shall be construed to require D&E to obtain such
insurance, if the Board of Directors of D&E determines that such coverage cannot be obtained at a commercially reasonable price. 
 10.
Attorney’s Fees and Costs. In the event of any litigation, arbitration, mediation or other proceeding between D&E and the Executive with respect to the subject matter of this Agreement and the enforcement of the rights hereunder and
such litigation or other proceeding results in a judgment, order, or other administrative determination in favor of the Executive, D&E shall reimburse the Executive for all of his reasonable costs and expenses relating to such litigation or
other proceeding, including, without limitation, his reasonable attorneys’ fees and expenses. 
 11. Notices. Any notice required
or desired to be given under this Agreement shall be deemed given if in writing and sent by overnight courier, or via certified mail, return receipt requested, to the Executive’s residence or to D&E’s principal office, as the case may
be. 
  

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 12. Waiver of Breach. Either party’s waiver of a breach of any provision in this Agreement by
the other party shall not operate or be construed as a waiver of any subsequent breach by the non-breaching party. No waiver shall be valid unless in writing and signed by an authorized officer of D&E. 
 13. Assignment. The Executive acknowledges that his services are unique and personal. Accordingly, the Executive may not assign his rights or
delegate his duties or obligations under this Agreement. D&E’s rights and obligations under this Agreement shall inure to the benefit of, and shall be binding upon, D&E’s successors and assigns, and D&E may assign this
Agreement, including the restrictive covenants contained in Paragraph 7 of this Agreement, to any successor or assign. Executive’s rights under this Agreement shall inure to the benefit of his designated beneficiaries, or heirs and assigns to
the extent provided by the express terms of this Agreement, and be binding upon any successor or assign to the same extent and with the same force as D&E. 
 14. Entire Agreement. This Agreement contains the entire understanding of the parties. It may not be changed orally but only by an agreement in writing signed by the party against whom enforcement of any
waiver, change, modification, extension, or discharge is sought. 
 15. Headings. Headings in this Agreement are for convenience only
and shall not be used to interpret or construe its provisions. 
 16. Counterparts. This Agreement may be executed in two (2) or
more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written. 
  

							
	 Attest:
	 		 	D&E COMMUNICATIONS, INC.
				
	  
	 		 	By	 	  

				
	  
	 		 	Title:	 	  

			
	 Witness:
	 		 	EXECUTIVE
			
	  
	 		 	  

		 		 	W. Garth Sprecher

  

 10Amendment Number Eight to Credit Agreement

 Exhibit 10.27 
 AMENDMENT NUMBER EIGHT TO CREDIT AGREEMENT 
 This AMENDMENT NUMBER EIGHT TO CREDIT AGREEMENT
(this “Amendment”) is entered into as of March 8, 2007, by the lenders identified on the signature pages hereof (the “Lenders”), WELLS FARGO FOOTHILL, INC., a California corporation, as the arranger
and administrative agent for the Lenders (in such capacity, together with its successors and assigns, if any, in such capacity, “Agent”; and together with the Lenders, the “Lender Group”), BUCA, INC., a
Minnesota corporation (“Parent”), and each of Parent’s Subsidiaries identified on the signature pages hereof (such Subsidiaries, together with Parent, are referred to hereinafter each individually as a
“Borrower”, and individually and collectively, jointly and severally, as the “Borrowers”), with reference to the following: 
 WHEREAS, Borrowers and the Lender Group are parties to that certain Credit Agreement, dated as of November 15, 2004 (as amended, restated, supplemented, or otherwise modified from time to time, the
“Credit Agreement”); 
 WHEREAS, Borrowers have requested that the Lender Group agree to certain amendments to the
Credit Agreement, as set forth herein; and 
 WHEREAS, subject to the terms and conditions set forth herein, the Lender Group is
willing to make the amendments requested by Borrowers, as set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and
the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  

	1.	Defined Terms. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement, as amended hereby.

  

	2.	Amendments to Credit Agreement. 

  

	 	(a)	Section 2.6(a) of the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 

 “(a) Interest Rates. Except as provided in clause (c) below, all Obligations (except for undrawn Letters of Credit and
except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof as follows: (i) if the relevant Obligation is an Advance that is a Base Rate Loan, at
a per annum rate equal to the Base Rate plus 2.50 percentage points, (ii) if the relevant Obligation is an Advance that is a LIBOR Rate Loan, at a per annum rate equal to the LIBOR Rate plus the Applicable Margin, and (iii) if the relevant
Obligation is the Term Loan A, at a per annum rate equal to the Base Rate plus 2.50 percentage points.” 

	 	(b)	Section 2.17(a) of the Credit Agreement is hereby amended by deleting the first sentence thereof in its entirety and replacing it with the following:

 “In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option (the
“LIBOR Option”) to have interest on all or a portion of the Advances be charged at a rate of interest based upon the LIBOR Rate.” 
  

	 	(c)	Section 6.16(a)(i) of the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 

 “(i) Minimum EBITDA. EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table
for the applicable period set forth opposite thereto: 
  

			
	Applicable Amount	  	 Applicable Period

	$8,900,000	  	the 12 month period ending April 1, 2007
		
	$8,500,000	  	the 12 month period ending July 1, 2007
		
	$9,600,000	  	the 12 month period ending September 30, 2007
		
	$9,100,000	  	the 12 month period ending December 30, 2007
		
	$9,400,000	  	the 12 month period ending March 30, 2008
		
	$9,200,000	  	the 12 month period ending June 29, 2008
		
	$10,300,000	  	the 12 month period ending September 28, 2008
		
	$11,700,000	  	the 12 month period ending December 28, 2008

  

	 	(d)	Section 6.16(a)(i) of the Credit Agreement is hereby amended by adding the following paragraph at the end thereof: 

 “Agent shall, in its Permitted Discretion, establish the quarterly minimum EBITDA and Fixed Charge Coverage Ratio levels for each trailing 12 month
period ending at the end of a quarter after December 28, 2008 based upon Borrowers’ Projections for such trailing 12 month period delivered pursuant to Section 5.3 of this Agreement, which Borrowers’ Projections shall be
satisfactory to Agent in all respects. Borrowers shall execute any amendment to 

  

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this Section 6.16 reasonably requested by Agent to document the inclusion of such minimum EBITDA and Fixed Charge Coverage Ratio levels. If
Borrowers fail to timely deliver the Projections required to be delivered pursuant to Section 5.3, the EBITDA and Fixed Charge Coverage Ratio levels shall be measured on a quarterly basis at an amount equal to 110% of the minimum EBITDA
and Fixed Charge Coverage Ratio levels for the immediately preceding trailing 12 months.” 
  

	 	(e)	Section 6.16(b)(ii) of the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 

 “(ii) Intentionally Omitted.” 
  

	 	(f)	Schedule 1.1 of the Credit Agreement is hereby amended by amending and restating the definitions of “Applicable Margin”, “Borrowing Base”,
“EBITDA” , “Excess Cash Flow”, and “Fixed Charge Coverage Ratio” in their entirety as follows: 

 ““Applicable Margin” means, as of any date of determination (with respect to outstanding Advances on such date that are Base Rate Loans or LIBOR Rate Loans, as the case may be), the margins set
forth in the following table that correspond to the most recent certified Leverage Ratio calculation delivered to Agent pursuant to Section 5.3 hereof; provided, however, that for the period from the Eighth Amendment Effective Date
through the date Agent receives the certified calculation of the Leverage Ratio in respect of the “testing period” ending [April 1, 2007], the Applicable Margin shall be at the margin in the row styled “Level I”: 
  

							
	Level	  	 Leverage Ratio
	  	 Margin above Base Rate
	  	 Margin above LIBOR Rate

	I	  	 greater than
 2.00:1.00
	  	2.00%	  	4.25%
				
	II	  	 2.00:1.00 or
 less, but greater
 than 1.50:1.00
	  	1.50%	  	3.50%
				
	III	  	 1.50:1.00 or
 less, but greater
 than 1.00:1.00
	  	1.00%	  	2.75%
				
	IV	  	1.00:1.00 or less	  	0.50%	  	2.00%

  

 3 

 Except as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent
calculation of the Leverage Ratio, which will be calculated as of the end of each fiscal quarter. Except as set forth in the initial proviso in this definition, the Applicable Margin shall be re-determined each fiscal quarter on the first day of the
fiscal quarter following the date of delivery to Agent of the certified calculation of the Leverage Ratio pursuant to Section 5.3; provided, however, that if Borrowers fail to provide such certification when such
certification is due, the Applicable Margin shall be set at the margin in the row styled “Level I” as of the first day of the month following the date on which the certification was required to be delivered until the date on which such
certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin shall be set at the margin
based upon the Leverage Ratio calculation disclosed by such certification. In the event that the information contained in any financial statement or Compliance Certificate delivered pursuant to the Agreement is shown to be inaccurate, and such
inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin actually applied for such Applicable Period, then (i) Borrowers shall
immediately deliver to Agent a correct Compliance Certificate for such Applicable Period, (ii) the Applicable Margin shall be determined as if “Level I” (as set forth in the table above) were applicable for such Applicable Period, and
(iii) Borrowers shall immediately deliver to Agent full payment in respect of the accrued additional interest on the Obligations as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied
by Agent to the affected Obligations.” 
 ““Borrowing Base” means, as of any date of determination,
the result of: 
 (a) the lesser of 
 (i) the product of the 1.75 times TTM EBITDA for the most recently ended 12 consecutive monthly periods for which financial statements
have been delivered pursuant to Section 5.3, and 
  

 4 

 (ii) 50% of the most recently determined Enterprise Value; 
 minus 
 (b)
the sum of (i) the Bank Product Reserve, and (ii) the aggregate amount of reserves, if any, established by Agent under Section 2.1(b).” 
 ““EBITDA” means, with respect to any fiscal period, in each case as determined in accordance with GAAP,
Parent’s and its Subsidiaries’ consolidated net earnings (or loss), minus extraordinary gains and interest income for such period, plus: 
 (a) interest expense, income taxes, depreciation and amortization, and Restaurant Pre-Opening Expenses for such period; 
 (b) for fiscal year 2005 through and including fiscal year 2006 only, legal fees and disbursements incurred in connection with any of the Investigations, charges relating to the reimbursement of witnesses in any of
the Investigations, and fees and disbursements of forensic accountants retained by the Borrowers in connection with any of the Investigations, in an aggregate amount not to exceed $3,000,000 (the “Investigations Expenses”);

 (c) for any fiscal year after fiscal year 2004 through and including fiscal year 2006, charges not to exceed $1,000,000
(inclusive of legal fees and disbursements) in the aggregate for amounts, if any, in excess of the remaining reserve therefor paid during such period under the settlement of the Class Action Lawsuit; 
 (d) any non-cash asset impairment charges or fixed asset additions for restaurant properties that have previously been impaired, in each
case in accordance with FASB 144 (to the extent having been deducted in the calculation of net earnings (loss) for such period); 
 (e) for the fourth fiscal quarter of fiscal year 2005 and each fiscal year thereafter, any charges related to FIN 47 in amount not to exceed $359,857 for the fourth fiscal quarter of fiscal year 2005 and $210,000 for each fiscal year
thereafter; and 
 (f) for fiscal year 2006 and each fiscal year thereafter, any charges related to FASB 123; 
  

 5 

 (g) any non-recurring store closure expenses and lease termination charges for such
period related to any store closures; 
 provided that any reversal (or reimbursement) of charges set forth in the foregoing clauses
(b) through (g) shall not be included in (and, as applicable, subtracted from) EBITDA.” 
 ““Excess Cash Flow” means, as of any date of determination, the result of (i) EBITDA for the immediately preceding fiscal year, less (ii) the sum of (A) interest payments made in cash during such period
on any Indebtedness of Borrowers or their Subsidiaries permitted hereunder, (B) all principal payments made in cash during such period on any Indebtedness of Borrowers or their Subsidiaries permitted hereunder (but, in the case of revolving
loans, only to the extent that the revolving credit commitment with respect thereto is permanently reduced by the amount of such payments), (C) Capital Expenditures made in cash during such period, (D) payments of taxes made in cash during
such period, (E) Restaurant Pre-Opening Expenses paid in cash during such period, (F) cash amounts paid during such period in respect of repurchases of the common Stock of the Parent in connection with the Parent’s Paisano Partner
Program, (G) for any fiscal year after fiscal year 2004 through and including fiscal year 2006 only, amounts, not to exceed $2,800,000 (inclusive of legal fees and disbursements) in the aggregate, paid in cash during such period under the
settlement of the Class Action Lawsuit, (H) for fiscal year 2005 through and including fiscal year 2006 only, amounts, not to exceed $3,000,000 in the aggregate, paid in cash during such period in respect of any Investigations Expenses, and
(I) for fiscal years 2005 and 2006 only, amounts, not to exceed $130,000 per month, paid in cash during the period from April 2005 through and including February 2006 in respect of the fees required to be paid to the holders of the common Stock
of the Parent purchased under that certain Securities Purchase Agreement dated as of February 24, 2004 among the Parent and the investors named therein for each month that such holders are not permitted to sell that Stock pursuant to an
effective registration statement.” 
 ““Fixed Charge Coverage Ratio” means, with respect to Parent
and its Subsidiaries for any period, the ratio of (i) TTM EBITDA for such period minus Maintenance Capital Expenditures made (to the extent not already incurred in a prior period) or incurred during such period (except to the extent such
Maintenance Capital Expenditures were financed with Indebtedness permitted under Section 6.1(c)), to (ii) Fixed Charges for such period.” 
  

 6 

 ““Maximum Revolver Amount” means $25,000,000, as such amount may be
reduced from time to time in accordance with Sections 2.1(d) or 2.4(d).” 
  

	 	(g)	Schedule 1.1 of the Credit Agreement is hereby amended by adding the following definitions of 

 ““Eighth Amendment” means that certain Amendment Number Eight to Credit Agreement dated as of March 8, 2007
entered into by and among the Lenders, the Agent, and the Borrowers.” 
 ““Eighth Amendment Effective
Date” has the meaning ascribed to such term in the Eighth Amendment.” 
  

	 	(h)	Schedule 1.1 of the Credit Agreement is hereby amended by deleting the definitions of “Common Stock Penalty”, “EBITDA Multiplier” and “Revolver
Increase Date” in their entirety. 

  

	 	(i)	The Credit Agreement hereby is amended by Exhibit B-1, Exhibit C-1, and Schedule C-1 to the Credit Agreement and replacing them in their entirety with the
corresponding Exhibits and Schedule attached hereto. 

  

	3.	Conditions Precedent to Amendment. The satisfaction of each of the following shall constitute conditions precedent to the effectiveness of this Amendment (the date of such
effectiveness being herein called the “Eighth Amendment Effective Date”) and each and every provision hereof: 

  

	 	(a)	Agent shall have received this Amendment, duly executed by the parties hereto, and the same shall be in full force and effect. 

  

	 	(b)	Agent shall have received a reaffirmation and consent substantially in the form attached hereto as Exhibit A, duly executed and delivered by each Guarantor.

  

	 	(c)	Borrowers shall have paid to Agent, for WFF’s sole and separate account, an amendment fee of $50,000 (the “Eighth Amendment Fee”), which Eighth Amendment Fee
shall be fully earned (and non-refundable) and paid in full by charging such fee to Borrowers’ Loan Account on the Eighth Amendment Effective Date. 

  

	 	(d)	The representations and warranties herein and in the Credit Agreement, as amended hereby, and the other Loan Documents shall be true and correct in all material respects on and as
of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date). 

  

 7 

	 	(e)	No Default or Event of Default shall have occurred and be continuing on the date hereof, nor shall result from the consummation of the transactions contemplated herein.

  

	 	(f)	No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been
issued and remain in force as of the date hereof by any Governmental Authority against any Borrower, any Guarantor, Agent, or any Lender. 

  

	4.	Release. Each Borrower hereby waives, releases, remises and forever discharges each member of the Lender Group, each of their respective Affiliates, and each of their
respective officers, directors, employees, and agents (collectively, the “Releasees”), from any and all claims, demands, obligations, liabilities, causes of action, damages, losses, costs and expenses of any kind or character, known
or unknown, past or present, liquidated or unliquidated, suspected or unsuspected, which any Borrower ever had from the beginning of the world, or now has against any such Releasee which relates, directly or indirectly, to the Credit Agreement or
any other Loan Document, or to any acts or omissions of any such Releasee with respect to the Credit Agreement or any other Loan Document, or to the lender-borrower relationship evidenced by the Loan Documents. As to each and every claim released
hereunder, each Borrower hereby represents that it has received the advice of legal counsel with regard to the releases contained herein, and having been so advised, each Borrower specifically waives the benefit of the provisions of
Section 1542 of the Civil Code of California which provides as follows: 

 “A GENERAL RELEASE DOES NOT
EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM, MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
 As to each and every claim released hereunder, each Borrower also waives the benefit of each other similar provision of applicable federal
or state law (including without limitation the laws of the state of New York), if any, pertaining to general releases after having been advised by its legal counsel with respect thereto. 
  

	5.	Costs and Expenses. Borrowers agree to pay all reasonable out-of-pocket costs and expenses of each member of the Lender Group (including, without limitation, the reasonable
fees and disbursements of outside counsel to each member of the Lender Group) in connection with the preparation, execution and delivery of this Amendment and all agreements and documents executed in connection herewith and the review of all
documents incidental thereto. 

  

	6.	 Representations and Warranties. Each Borrower represents and warrants to the Lender Group that (a) the execution, delivery, and performance of this
Amendment and the Credit Agreement, as amended hereby, (i) are within its corporate or limited partnership powers, (ii) have been duly authorized by all necessary corporate or limited partnership action on its part, and (iii) are not
in contravention of any law, rule, or regulation 

  

 8 

	 	 
applicable to it, or any order, judgment, decree, writ, injunction, or award of any arbitrator, court, or Governmental Authority binding on it, or of the
terms of its Governing Documents, or of any material contract or undertaking to which it is a party or by which any of its properties may be bound or affected; (b) each of this Amendment and the Credit Agreement, as amended hereby, are legal,
valid and binding obligations of each Borrower, enforceable against each Borrower in accordance with their respective terms (except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium or
similar laws relating to or limiting creditors rights generally); and (c) no Default or Event of Default has occurred and is continuing on the date hereof. 

  

	7.	Choice of Law. The validity of this Amendment, its construction, interpretation and enforcement, and the rights of the parties hereunder shall be determined under, governed
by, and construed in accordance with the laws of the State of New York. 

  

	8.	Counterpart Execution. This Amendment may be executed in any number of counterparts, all of which when taken together shall constitute one and the same instrument, and any of
the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of this Amendment by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of
this Amendment. Any party delivering an executed counterpart of Amendment by telefacsimile or electronic mail also shall deliver an original executed counterpart of this Amendment, but the failure to deliver an original executed counterpart shall
not affect the validity, enforceability, and binding effect of this Amendment. 

  

	9.	Effect on Loan Documents. 

  

	 	(a)	The Credit Agreement and each of the other Loan Documents, as amended, modified or waived hereby, shall be and remain in full force and effect in accordance with their respective
terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Amendment shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Agent or
any Lender under the Credit Agreement or any other Loan Document. The waivers, consents, and modifications herein are limited to the specifics hereof, shall not apply with respect to any facts or occurrences other than those on which the same are
based, shall not excuse future non-compliance with the Loan Documents, and shall not operate as a consent to any further or other matter under the Loan Documents. 

  

	 	(b)	Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”,
“hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby. 

  

 9 

	 	(c)	To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect
to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby. 

  

	 	(d)	This Amendment is a Loan Document. 

  

	10.	Entire Agreement. This Amendment embodies the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersedes any and
all prior or contemporaneous agreements or understandings with respect to the subject matter hereof, whether express or implied, oral or written. 

 [signature page follows] 
  

 10 

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

  

							
	 BUCA, INC.
 a Minnesota
corporation

		
	By:	 	 /s/ Richard G. Erstad

	Title:	 	General Counsel
	
	 BUCA RESTAURANTS, INC.
 a Minnesota
corporation

		
	By:	 	 /s/ Richard G. Erstad

	Title:	 	Secretary
	
	 BUCA TEXAS RESTAURANTS, L.P.
 a Texas
limited partnership

		
	By:	 	 Buca Restaurants, Inc.,
 its general
partner

			
		 	By:	 	 /s/ Richard G. Erstad

		 	Title:	 	Secretary
	
	 BUCA (KANSAS), INC.
 a Kansas
corporation

		
	By:	 	 /s/ Richard G. Erstad

	Title:	 	Secretary
	
	 BUCA RESTAURANTS 2, INC.
 a Minnesota
corporation

		
	By:	 	 /s/ Richard G. Erstad

	Title:	 	Secretary
	
	 BUCA (MINNEAPOLIS), INC.
 a Minnesota
corporation

		
	By:	 	 /s/ Richard G. Erstad

	Title:	 	 Secretary

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

		
	By:	 	 /s/ Dena Seki

	Title:	 	Vice President

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