Document:

Officer Employment Agreement

 Exhibit 10.53 
 Confidential Property of OSI Restaurant Partners, LLC 

David Deno 
 OSI
RESTAURANT PARTNERS, LLC 
 Officer Employment Agreement 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into effective May 07, 2012, by and
among DAVID DENO (hereinafter referred to as “Employee”) and OSI RESTAURANT PARTNERS, LLC, a Delaware limited liability company having its principal office at 2202 N. West Shore Boulevard, 5th Floor, Tampa, Florida 33607 (the “Employer”). 

W I T N E S S E T H: 
 This Agreement is made and entered into under the following circumstances: 
 A.
WHEREAS, the Employer is engaged in the business of owning and operating, either directly and/or through its subsidiaries and their affiliates, restaurants utilizing a restaurant operating system and trademarks (“Trademarks”) owned by or
licensed to the Employer and/or such operating subsidiary or affiliate; and 
 B. WHEREAS, the Employer desires, on the terms
and conditions stated herein, to employ the Employee as Executive Vice President and Chief Financial Officer of the Employer; and 
 C. WHEREAS, the Employee desires, on the terms and conditions stated herein, to be employed by the Employer as Executive Vice President and Chief Financial Officer. 

NOW, THEREFORE, in consideration of the foregoing recitals, and of the premises, covenants, terms and conditions contained herein, the
parties hereto agree as follows: 
 1. Employment and Term. Subject to earlier termination as provided for in
Section 8 hereof, the Employer hereby employs the Employee, and the Employee hereby accepts employment with the Employer as Executive Vice President and Chief Financial Officer of the Employer for a term commencing on May 07, 2012
and expiring five (5) years thereafter (“Term of Employment”). Such Term of Employment shall be automatically renewed for successive renewal terms of one (1) year each unless either party elects not to renew by giving written
notice to the other party not less than sixty (60) days prior to the start of any renewal term. 
 2. Representations
and Warranties. The Employee hereby represents and warrants to the Employer that (a) the Employee (i) is not subject to any written nonsolicitation or noncompetition agreement affecting the Employee’s employment with the
Employer or its Affiliates (other than any prior agreement with the Employer or its Affiliates), (ii) is not subject to any written confidentiality or nonuse/nondisclosure agreement affecting the Employee’s employment with the Employer or
its Affiliates (other than any prior agreement with the Employer or its Affiliates), and (iii) has brought to the Employer and its Affiliates no trade secrets, confidential business information, documents, or other personal property of a prior
employer, and (b) the execution of this Agreement and the performance of the Employee’s obligations hereunder will not breach or be in conflict with any other agreement to which the Employee is a party or is bound or any order, decree,
judgment, ruling, determination or injunction of any federal, state, local or foreign governmental, administrative or regulatory court, agency or body or any arbitrator. 
 3. Duties. As Executive Vice President and Chief Financial Officer of the Employer, the Employee shall: 

(a) diligently, competently, and faithfully perform all of the duties and functions as may be assigned to the Employee
hereunder commensurate with the position of Executive Vice President and Chief Financial Officer of the Employer; 

  
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 (b) devote one hundred percent (100%) of the Employee’s full
business time, attention, energies, and effort to the business affairs of the Employer; 
 (c) achieve the
results and other goals required by the Employer; 
 (d) conduct all of Employee’s activities in a manner so
as to maintain and promote the business and reputation of the Employer; and 
 (e) not create a situation that
results in termination for Cause (as that term is defined in Section 8 hereof). 
 Notwithstanding the foregoing,
the Employee shall be permitted to invest the Employee’s personal assets and manage the Employee’s personal investment portfolio in such a form and manner as will not require any business services on the Employee’s part to any third
party, and provided it does not conflict with the Employee’s duties and responsibilities to the Employer or the provisions of Section 9 or Section 10 hereof, or conflict with any material published policy
of the Employer or its Affiliates, including, but not limited to, the insider trading policy of the Employer or its Affiliates. 

Notwithstanding the foregoing, the Employee shall also be permitted to participate in customary civic, nonprofit, religious, welfare,
social and professional activities that will not materially affect the Employee’s performance of duties hereunder. The Employee may continue to serve on any board of directors and advisory committees of companies on which the Employee currently
serves, as long as the business of such companies is not competitive with that of the Employer or any of its Affiliates. The Employee shall not serve on the board of directors or advisory committee of any other company without the prior consent of
the Employer, which consent shall not be unreasonably withheld. 
 Notwithstanding anything to the contrary herein, the parties
acknowledge and agree that the Employee shall, during the term of this Agreement and at the request of the Employer, also serve as an officer of any Affiliate of the Employer as the Employer shall reasonably request. In such capacity, the Employee
shall be responsible generally for all aspects of such office. All terms, conditions, rights and obligations of this Agreement shall be applicable to the Employee while serving in such office as though the Employee and such Affiliate of the Employer
had separately entered into this Agreement, except that the Employee shall not be entitled to any compensation, vacation, fringe benefits, automobile allowance or other remuneration of any kind whatsoever from such Affiliate of the Employer.

 4. Compensation. During the Term of Employment, subject to the Employee’s performance in accordance with
this Agreement, the Employee shall be entitled to the following: 
 a. Base Salary. During the Term of
Employment, the Employee shall be entitled to an annual base salary equal to Six Hundred Thousand Dollars ($600,000), payable in equal biweekly installments by the Employer, to be reviewed annually. 

b. OSI Bonus Program. During the Term of Employment, the Employee shall be entitled to discretionary bonuses
pursuant to a bonus plan developed by the Compensation Committee of the Employer (the “OSI Bonus Program”). Employee’s bonus target under the OSI Bonus Program is 85% of the base salary paid to the Employee in the calendar year for
which the bonus is awarded; provided however, so long as Employee remains employed by Employer through the end of the 2012 calendar year, the Employee’s bonus under the OSI Bonus Program for the calendar year 2012 shall be a guaranteed minimum
of Five Hundred Thousand and Ten Thousand Dollars ($510,000). The OSI Bonus Program and the Employee’s bonus percentage are subject to increase, decrease, change or elimination in the discretion of the Employer. 

c. Relocation Costs. Employee shall be entitled to benefits under the Employer’s standard relocation policy.

 d. Signing Bonus. Employee shall be entitled to a one-time signing bonus of Four Hundred Twenty-five
Thousand Dollars ($425,000) payable one half in Employee’s first paycheck and one half on or before November 7, 2012. In the event that Employee resigns or is terminated pursuant to Section 8(c) hereof within twelve months of either
signing bonus payment, Employee shall repay such payment to the Employer. 

  
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 e. Other Bonuses. In addition, as part of the Employee’s
compensation during the Term of Employment, the Employee shall be eligible to participate in any bonus program or bonus arrangement which the Employer may establish from time to time for employees with the same title; provided that such program or
arrangement applies generally to employees with the same title and with the functional job responsibilities of such title, and that the Employer may modify the terms and conditions of any such bonus or arrangement and may discontinue or otherwise
terminate any such program or arrangement from time to time in its sole discretion. 
 f. General Rules
Regarding Bonuses. Unless otherwise specified herein or in Employer policies or other governing documents regarding executive compensation and bonus plans, any bonus awarded to the Employee by the Employer shall be paid in a single lump sum
within ninety (90) days after the performance period. 
 5. Paid Time Off. Employee shall be entitled to
vacation time or other paid time off (collectively “PTO”) to be accrued in accordance with the Employer’s PTO Policy as may be in effect from time to time. PTO scheduling is selected by the Employee, but subject to the reasonable
business requirements of the Employer as determined by Employee’s supervisor. Unless required by applicable law which cannot be waived, PTO granted but not used in any year shall be forfeited at the end of such one-year period and may not be
carried over to any subsequent year. 
 6. Fringe Benefits. In addition to any other rights the Employee may have
hereunder, the Employee shall also be entitled to participate in those employee benefit plans, programs and arrangements, including, but not limited to life insurance, medical benefits, etc., if any, as may be provided by the Employer to similar
employees of the Employer. In each case as such plans, programs and arrangements may be in effect from time to time, all subject to the terms of such plans, programs or arrangements and applicable policies of the Employer. Any taxable welfare
benefits provided to the Employee pursuant to this Section 6 that are not ‘disability pay’ or ‘death benefits’ within the meaning of Treasury Regulations Section 1.409A-1(a)(5) (collectively, the ‘Applicable
Benefits’) shall be subject to the following requirements in order to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). The amount of any Applicable Benefits provided during one taxable year
shall not affect the amount of the Applicable Benefits provided in any other taxable year, except that with respect to any Applicable Benefits that consist of the reimbursement of expenses referred to in Code Section 105(b), a limitation may be
imposed on the amount of such reimbursements as described in Treasury Regulations Section 1.409A-3(i)(iv)(B). To the extent that any Applicable Benefits consist of the reimbursement of eligible expenses, such reimbursement must be made on or
before the last day of the calendar year following the calendar year in which the expense was incurred, and Employer shall not be obligated to reimburse any expense for which the Employee fails to submit an invoice or other documented reimbursement
request at least thirty (30) business days before the end of the calendar year next following the calendar year in which the expense for any such reimbursement was incurred. Further, no Applicable Benefits may be liquidated or exchanged for
another benefit. 
 7. Expenses. Subject to compliance with the Employer’s policies as in effect from time to
time, the Employee may incur and be reimbursed by the Employer for reasonable expenses on behalf of and in furtherance of the business of the Employer. If any reimbursements under this provision are taxable to the Employee, such reimbursements shall
be paid on or before the end of the calendar year following the calendar year in which the reimbursable expense was incurred, and the Employer shall not be obligated to pay any such reimbursement amount for which Employee fails to submit an invoice
or other documented reimbursement request at least thirty (30) business days before the end of the calendar year next following the calendar year in which the expense was incurred. Such expenses shall be reimbursable only to the extent they
were incurred during the term of the Agreement. In addition, the amount of such reimbursements that the Employer is obligated to pay in any given calendar year shall not affect the amount the Employer is obligated to pay in any other calendar year.
Further, Employee may not liquidate or exchange the right to reimbursement of such expenses for any other benefits. 

  
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 8. Termination. Notwithstanding the provisions of Section 1
hereof, the Term of Employment shall terminate prior to the end of the period of time specified in Section 1 hereof, immediately upon: 
 (a) The death of the Employee; or 
 (b) At the election of the
Employer in the event of the Employee’s Disability during the Term of Employment. For purposes of this Agreement, the term “Disability” shall mean the inability of the Employee, arising out of any medically determinable physical or
mental impairment, to perform the services required of the Employee hereunder for a period of (i) ninety (90) consecutive days or (ii) one hundred and twenty (120) total days during any period of three hundred and sixty-five
(365) consecutive calendar days; or 
 (c) The existence of Cause. For purposes of this Agreement, the term
“Cause” shall be defined as: 
 (i) Failure of the Employee to perform the duties required of the
Employee in this Agreement in a manner satisfactory to the Employer, in its sole discretion; provided, however, that the Term of Employment shall not be terminated pursuant to this subparagraph (i) unless the Employer first gives the Employee a
written notice (“Notice of Deficiency”). The Notice of Deficiency shall specify the deficiencies in the Employee’s performance of the Employee’s duties. The Employee shall have a period of thirty (30) days, commencing on
receipt of the Notice of Deficiency, in which to cure the deficiencies contained in the Notice of Deficiency. In the event the Employee does not cure the deficiencies to the satisfaction of the Employer, in its sole discretion, within such thirty
(30) day period (or if during such thirty (30) day period the Employer determines that the Employee is not making reasonable, good faith efforts to cure the deficiencies to the satisfaction of the Employer), the Employer shall have the
right to immediately terminate the Term of Employment. The provisions of this subparagraph (i) may be invoked by the Employer any number of times and cure of deficiencies contained in any Notice of Deficiency shall not be construed as a waiver
of this subparagraph (i) nor prevent the Employer from issuing any subsequent Notices of Deficiency; or 

(ii) Any dishonesty by the Employee in the Employee’s dealings with the Employer or its Affiliates, the commission of
fraud by the Employee, negligence in the performance of the duties of the Employee, insubordination, willful misconduct, or the conviction (or plea of guilty or nolo contendere) of the Employee of, or indictment or charge with respect to, any
felony, or any other crime involving dishonesty or moral turpitude; or 
 (iii) Any violation of any covenant or
restriction contained in Section 10, Section 11 or Section 13 hereof; or 
 (iv) Any
violation of any current or future material published policy of the Employer or its Affiliates (material published policies include, but are not limited to, the Employer’s discrimination and harassment policy, management dating policy,
responsible alcohol policy, insider trading policy and security policy); or 
 (d) At the election of the
Employer, upon the determination by the Employer to cease the Employer’s business operations; or 
 (e) At
the election of the Employee from time to time no later than thirty (30) days following the occurrence of Good Reason (as defined in Section 33); or 

  
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 (f) At the election of the Employer in its sole discretion, for any
reason or no reason. 
 Termination of Employment for all purposes under this Agreement will be determined to have occurred in
accordance with the ‘separation from service’ requirements of Code Section 409A and the Treasury Regulations and other guidance issued thereunder, and based on whether the facts and circumstances indicate that Employer and Employee
reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services Employee would perform after such date (as an employee or as an independent contractor) would permanently decrease to no
more than 20 percent of the average level of bona fide services performed over the immediately preceding 36-month period (or actual period of service, if less). 
 For all purposes of this Agreement, termination for Cause shall be deemed to have occurred in the event of the Employee’s resignation when, because of existing facts and circumstances, subsequent
termination for Cause can be reasonably foreseen. 
 9. Severance.  

(a) General. Except as otherwise provided in Section 9(b), in the event of termination of this
Agreement pursuant to Section 8, the Employee or the Employee’s estate, as appropriate, shall be entitled to receive (in addition to any fringe benefits payable upon death in the case of the Employee’s death) the base salary
provided for herein up to and including the effective date of termination, prorated on a daily basis. 
 (b)
Severance. In the event of termination of this Agreement pursuant to Section 8(e) or 8(f), the Employee shall be entitled to receive as full and complete severance compensation, the base salary provided for herein for a period of
twelve (12) months from the effective date of such termination (the “Severance”). Severance shall be payable in bi-weekly installments. The Employee acknowledges and agrees that in the event of termination of this Agreement pursuant
to Section 8(e) or 8(f) the Severance provided in this Section 9(b) shall be the only obligation that the Employer or any of its Affiliates shall have to the Employee (except for any vested benefits in tax-qualified pension
plans maintained by the Employer). Payment of Severance shall be contingent on Employee’s continued compliance with Section 10(b) and Section 11 of this Agreement. 

10. Noncompetition.  
 (a) During Term. Except with the prior written consent of the Employer, during the Employee’s employment with the Employer, the Employee shall not, individually or jointly with others,
directly or indirectly, whether for the Employee’s own account or for that of any other person or entity, engage in or own or hold any ownership interest in any person or entity engaged in a full service restaurant business, and the Employee
shall not act as an officer, director, employee, partner, independent contractor, consultant, principal, agent, proprietor or in any other capacity for, nor lend any assistance (financial or otherwise) or cooperation to, any such person or entity.

 (b) Post Term. For a continuous period of two (2) years commencing on termination of the
Employee’s employment with the Employer, regardless of any termination pursuant to Section 8 hereof or any voluntary termination or resignation by the Employee, the Employee shall not, individually or jointly with others, directly
or indirectly, whether for the Employee’s own account or for that of any other person or entity, engage in or own or hold any ownership interest in any person or entity engaged in a full service restaurant business that is located or intended
to be located anywhere within a radius of 

  
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thirty (30) miles of any restaurant owned or operated by the Employer or any of its Affiliates, or any proposed full service restaurant to be owned or operated by any of the foregoing, and
the Employee shall not act as an officer, director, employee, partner, independent contractor, consultant, principal, agent, proprietor or in any other capacity for, nor lend any assistance (financial or otherwise) or cooperation to, any such person
or entity. For purposes of this Section 10(b), full service restaurants owned or operated by the Employer or any of its Affiliates shall include any entity in which the Employer, or any of its Affiliates has an interest, including, but
not limited to, an interest as a franchisor, but shall not include any entities to whose exclusion the Employer consents. The term “proposed full service restaurant” shall include all locations for which the Employer or any of its
franchisees or Affiliates is conducting active, bona fide negotiations to secure a fee or leasehold interest with the intention of establishing a full service restaurant thereon. 

(c) Limitation. Notwithstanding subsections (a) and (b) immediately above, it shall not be
a violation of this Section 10 for Employee to own a one percent (1%) or smaller interest in any corporation required to file periodic reports with the Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended, or successor statute. 
 11. Nondisclosure; Nonsolicitation; Nonpiracy. Except in the
performance of the Employee’s duties hereunder, at no time during the Term of Employment, or at any time thereafter, shall the Employee, individually or jointly with others, for the benefit of the Employee or any third party, publish, disclose,
use or authorize anyone else to publish, disclose or use any secret or confidential material or information relating to any aspect of the business or operations of the Employer or any of its Affiliates, including, without limitation, any secret or
confidential information relating to the business, customers, trade or industrial practices, trade secrets, technology, recipes, product specifications, restaurant operating techniques and procedures, marketing techniques and procedures, financial
data, processes, vendors and other information or know-how of the Employer or any of its Affiliates, except (i) to the extent required by law, regulation or valid subpoena, or (ii) to the extent that such information or material becomes
publicly known or available through no fault of the Employee. Moreover, during the Employee’s employment with the Employer and for two (2) years thereafter, except as is the result of a broad solicitation that is not targeting employees of
the Employer or any of its franchisees or Affiliates, the Employee shall not offer employment to, or hire, any employee of the Employer or any of its franchisees or Affiliates, or otherwise directly or indirectly solicit or induce any employee of
the Employer or any of its franchisees or Affiliates to terminate his or her employment with the Employer or any of its franchisees or Affiliates; nor shall the Employee act as an officer, director, employee, partner, independent contractor,
consultant, principal, agent, proprietor, owner or part owner, or in any other capacity, of or for any person or entity that solicits or otherwise induces any employee of the Employer or any of its franchisees or Affiliates to terminate his or her
employment with the Employer or any of its franchisees or Affiliates. 
 12. Employer Property: Employee Duty to
Return. All Employer property and assets, including but not limited to products, recipes, product specifications, training materials, employee selection and testing materials, marketing and advertising materials, special event, charitable
and community activity materials, customer correspondence, internal memoranda, products and designs, sales information, project files, price lists, customer and vendor lists, prospectus reports, customer or vendor information, sales literature,
territory printouts, call books, notebooks, textbooks, and all other like information or products, including but not limited to all copies, duplications, replications, and derivatives of such information or products, now in the possession of
Employee or acquired by Employee while in the employ of the Employer, shall be the exclusive property of the Employer and shall be returned to the Employer no later than the date of Employee’s last day of work with the Employer. 

13. Inventions, Ideas, Processes, and Designs. All inventions, ideas, recipes, processes, programs, software and designs
(including all improvements) related to the business of the Employer shall be disclosed in writing promptly to the Employer, and shall be the sole and exclusive property of the Employer, if either (i) conceived, made or used by the Employee
during the course of the Employee’s employment with the 

  
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Employer (whether or not actually conceived during regular business hours) or (ii) made or used by the Employee for a period of six (6) months subsequent to the termination or
expiration of such employment. Any invention, idea, recipe, process, program, software or design (including an improvement) shall be deemed “related to the business of the Employer” if (i) it was made with equipment, facilities or
confidential information of the Employer, (ii) results from work performed by the Employee for the Employer or (iii) pertains to the current business or demonstrably anticipated research or development work of the Employer. The Employee
shall cooperate with the Employer and its attorneys in the preparation of patent and copyright applications for such developments and, upon request, shall promptly assign all such inventions, ideas, recipes, processes and designs to the Employer.
The decision to file for patent or copyright protection or to maintain such development as a trade secret shall be in the sole discretion of the Employer, and the Employee shall be bound by such decision. The Employee shall provide, on the back of
this Agreement, a complete list of all inventions, ideas, recipes, processes and designs if any, patented or unpatented, copyrighted or non-copyrighted, including a brief description, that the Employee made or conceived prior to the Employee’s
employment with the Employer, and that, therefore, are excluded from the scope of this Agreement. 
 14. Restrictive
Covenants: Consideration; Non-Estoppel; Independent Agreements; and Non-Executory Agreements. The restrictive covenants of Section 10, Section 11 and Section 13 of this Agreement are given and made by Employee to
induce the Employer to employ the Employee and to enter into this Agreement with the Employee, and Employee hereby acknowledges that employment with the Employer is sufficient consideration for these restrictive covenants. 

The restrictive covenants of Section 10, Section 11 and Section 13 of this Agreement shall be construed as
agreements independent of any other provision in this Agreement, and the existence of any claim or cause of action of Employee against the Employer, whether predicated upon this Agreement or otherwise, shall not constitute a defense to the
enforcement of any restrictive covenant. 
 The refusal or failure of the Employer to enforce any restrictive covenant of
Section 10, Section 11 or Section 13 of this Agreement (or any similar agreement) against any other employee, agent, or independent contractor, for any reason, shall not constitute a defense to the enforcement by the
Employer of any such restrictive covenant, nor shall it give rise to any claim or cause of action by Employee against the Employer. 
 15. Reasonableness of Restrictions; Reformation; Enforcement. The parties hereto recognize and acknowledge that the geographical and time limitations contained in Section 10,
Section 11 and Section 13 hereof are reasonable and properly required for the adequate protection of the Employer’s interests. Employee acknowledges that the Employer or its Affiliate is the owner or the licensee of the
Trademarks, and the owner or the licensee of the restaurant operating systems. It is agreed by the parties hereto that if any portion of the restrictions contained in Section 10, Section 11 or Section 13 are held to be
unreasonable, arbitrary, or against public policy, then the restrictions shall be considered divisible, both as to the time and to the geographical area, with each month of the specified period being deemed a separate period of time and each radius
mile of the restricted territory being deemed a separate geographical area, so that the lesser period of time or geographical area shall remain effective so long as the same is not unreasonable, arbitrary, or against public policy. The parties
hereto agree that in the event any court of competent jurisdiction determines the specified period or the specified geographical area of the restricted territory to be unreasonable, arbitrary, or against public policy, a lesser time period or
geographical area that is determined to be reasonable, nonarbitrary, and not against public policy may be enforced against Employee. If Employee shall violate any of the covenants contained herein and if any court action is instituted by the
Employer to prevent or enjoin such violation, then the period of time during which the Employee’s business activities shall be restricted, as provided in this Agreement, shall be lengthened by a period of time equal to the period between the
date of the Employee’s breach of the terms or covenants contained in this Agreement and the date on which the decree of the court disposing of the issues upon the merits shall become final and not subject to further appeal. 

  
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 In the event it is necessary for the Employer to initiate legal proceedings to enforce,
interpret or construe any of the covenants contained in Section 10, Section 11 or Section 13 hereof, each party shall pay its own legal fees, and the prevailing party in such proceedings shall be entitled to receive from
the non-prevailing party, in addition to all other remedies, all costs of such proceedings including appellate proceedings. 

16. Specific Performance. Employee agrees that a breach of any of the covenants contained in Section 10,
Section 11 or Section 13 hereof will cause irreparable injury to the Employer for which the remedy at law will be inadequate and would be difficult to ascertain and therefore, in the event of the breach or threatened breach of
any such covenants, the Employer shall be entitled, in addition to any other rights and remedies it may have at law or in equity, to obtain an injunction to restrain Employee from any threatened or actual activities in violation of any such
covenants. Employee hereby consents and agrees that temporary and permanent injunctive relief may be granted in any proceedings that might be brought to enforce any such covenants without the necessity of proof of actual damages, and in the event
the Employer does apply for such an injunction, Employee shall not raise as a defense thereto that the Employer has an adequate remedy at law. 
 17. Assignability. This Agreement and the rights and duties created hereunder, shall not be assignable or delegable by Employee. The Employer shall have the right, without Employee’s
knowledge or consent, to assign this Agreement, in whole or in part and any or all of the rights and duties hereunder, including but not limited to the restrictive covenants of Section 10, Section 11 and Section 13
hereof to any person, including but not limited to any Affiliate of the Employer, or any successor to the Employer’s interest in the restaurants, and Employee shall be bound by such assignment. Any assignee or successor may enforce any
restrictive covenant of this Agreement. 
 18. Effect of Termination. For the avoidance of doubt, the
termination of this Agreement or expiration of the Term of Employment, for any reason, shall not extinguish those obligations of the Employee specified in Section 10, Section 11, Section 13 and Section 28 hereof.

 19. Captions; Terms. The captions of this Agreement are for convenience only, and shall not be construed to
limit, define, or modify the substantive terms hereof. 
 20. Acknowledgments. Employee hereby acknowledges, that
the Employee has been provided with a copy of this Agreement for review prior to signing it, that the Employee has been given a full and sufficient opportunity to consider this Agreement and has been given the opportunity to have this Agreement
reviewed by Employee’s attorney prior to signing it, that the Employee understands the purposes and effects of this Agreement; and that in agreeing to be bound by this Agreement the Employee has not relied on any promises or representations,
express or implied, that are not set forth expressly in this Agreement; and that the Employee has been given a signed copy of this Agreement for Employee’s own records. 
 21. Notices. All notices or other communications provided for herein to be given or sent to a party by another party shall be deemed validly given or sent if in writing mailed, postage
prepaid, by certified United States mail, return receipt requested, or delivered by hand or consigned to a nationally recognized overnight courier, and addressed to the parties at their addresses hereinabove set forth or at their last known address.
Any party may give notice to the other party at any time, by the method specified above, of a change in the address at which, or the person to whom, notice is to be addressed, which change of address shall be effective if notice thereof is actually
received. 
 22. Severability. Each section, subsection, and lesser section of this Agreement constitutes a
separate and distinct undertaking, covenant, or provision hereof. In the event that any provision of this Agreement shall be determined to be invalid or unenforceable, such provision shall be deemed limited by construction in scope and effect to the
minimum extent necessary to render the same valid and enforceable, and, in the event such a limiting construction is impossible, such invalid or unenforceable provision shall be deemed severed from this Agreement, but every other provision of this
Agreement shall remain in full force and effect. 

  
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 23. Waiver. The failure of a party to enforce any term, provision, or
condition of this Agreement or failure to insist on strict performance of a covenant hereunder or any obligation hereunder, at any time or times shall not be deemed a waiver of that term, provision, or condition for the future, nor shall any
specific waiver of a term, provision, or condition at one time be deemed a deemed a waiver of such term, provision, or condition for any future time or times. 
 24. Parties. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto, their legal representatives, executors, administrators, heirs, and proper successors
or permitted assigns, as the case may be. 
 25. Governing Law. This Agreement takes effect upon its acceptance
and execution by the Employer. The validity, interpretation, and performance of this Agreement shall be governed, interpreted, and construed in accordance with the laws of the State of Florida without giving effect to the principles of comity or
conflicts of laws thereof. 
 26. Consent to Personal Jurisdiction and Venue. Employee hereby consents to personal
jurisdiction and venue, for any action brought by the Employer arising out of a breach or threatened breach of this Agreement or out of the relationship established by this Agreement, exclusively in the United States District Court for the Middle
District of Florida, Tampa Division, or in the Circuit Court in and for Hillsborough County, Florida; and, if applicable, the federal and state courts in any jurisdiction where the Employee is employed or resides; the Employee hereby agrees that any
action brought by Employee, alone or in combination with others, against the Employer, whether arising out of this Agreement or otherwise, shall be brought exclusively in the United States District Court for the Middle District of Florida, Tampa
Division, or in the Circuit Court in and for Hillsborough County, Florida. 
 27. Affiliate. Whenever used in this
Agreement, the term “Affiliate” shall mean, with respect to any entity, all persons or entities directly or indirectly controlled by OSI Restaurant Partners, LLC, where control may be by management authority, contract or equity interest.

 28. Cooperation. Employee shall cooperate fully with all reasonable requests for information and participation
by the Employer, its agents, or its attorneys, in prosecuting or defending claims, suits, and disputes brought on behalf of or against the Employer and in which Employee is involved or about which Employee has knowledge. 

29 Internal Revenue Code Section 409A Compliance. 

a. Unless otherwise expressly provided, any payment of compensation by Employer to the Employee,
whether pursuant to this Agreement or otherwise, shall be made within two and one-half months (2 1/2 months) after the end of the later of the calendar year or the Employer’s fiscal year in which the Employee’s right to such payment vests (i.e., is not subject to a substantial risk of
forfeiture for purposes of Internal Revenue Code Section 409A (“Code Section 409A”)). Such amounts shall not be subject to the requirements of subsection (b) below applicable to “nonqualified deferred
compensation.” 
 b. All payments of “nonqualified deferred compensation” (within the
meaning of Code Section 409A are intended to comply with the requirements of Code Section 409A, and shall be interpreted in accordance therewith. No party individually or in combination may accelerate, offset or assign any such deferred
payment, except in compliance with Code Section 409A. No amount shall be paid prior to the earliest date on which it is permitted to be paid under Code Section 409A and Employee shall have no discretion with respect to the timing of
payments except as permitted under Section 409A. In the event that the Employee is determined to be a “specified employee” (as defined and determined under Code Section 409A) of Employer or any of its affiliates at a time when
its stock is deemed to be publicly 

  
 9 

 Confidential Property of OSI Restaurant Partners, LLC

 David Deno 
  

 
traded on an established securities market, payments determined to be “nonqualified deferred compensation” payable by reason of separation from service shall be paid no earlier than
(i) the first day of the seventh (7th) calendar month commencing after such termination of employment, or (ii) the Employee’s death, consistent with and to the extent necessary to meet the requirements Code Section 409A
without the imposition of excise taxes. Any payment delayed by reason of the prior sentence shall be paid out in a single lump sum on the earliest date permitted under Code Section 409A in order to catch up to the original payment
schedule. Notwithstanding anything herein to the contrary, no amendment may be made to this Agreement if it would cause the Agreement or any payment hereunder not to be in compliance with Code Section 409A. 

c. The Employee shall be responsible for the payment of all taxes applicable to payments or benefits received from the
Employer. It is the intent of the Employer that the provisions of this Agreement and all other plans and programs sponsored by the Employer be interpreted to comply in all respects with Code Section 409A, however, the Employer shall have no
liability to the Employee, or any successor or beneficiary thereof, in the event taxes, penalties or excise taxes may ultimately be determined to be applicable to any payment or benefit received by the Employee or any successor or beneficiary
thereof. 
 30. Amendments. No change, modification, or termination of any of the terms, provisions, or conditions
of this Agreement shall be effective unless made in writing and signed or initialed by all signatories to this Agreement. 

31. WAIVER OF JURY TRIAL. ALL PARTIES TO THIS AGREEMENT KNOW AND UNDERSTAND THAT THEY HAVE A CONSTITUTIONAL RIGHT
TO A JURY TRIAL. THE PARTIES ACKNOWLEDGE THAT ANY DISPUTE OR CONTROVERSY THAT MAY ARISE OUT OF THIS AGREEMENT WILL INVOLVE COMPLICATED AND DIFFICULT FACTUAL AND LEGAL ISSUES. 

THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE
CONTEMPLATED TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING,
VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS SHALL INSTEAD BE TRIED IN A COURT OF
COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 
 THE PARTIES INTEND THAT THIS WAIVER OF THE RIGHT TO A JURY
TRIAL BE AS BROAD AS POSSIBLE. BY THEIR SIGNATURES BELOW, THE PARTIES PROMISE, WARRANT AND REPRESENT THAT THEY WILL NOT PLEAD FOR, REQUEST OR OTHERWISE SEEK TO HAVE A JURY TO RESOLVE ANY AND ALL DISPUTES THAT MAY ARISE BY, BETWEEN OR AMONG THEM.

 32. Entire Agreement; Counterparts. This Agreement constitutes the entire agreement between the parties hereto
concerning the subject matter hereof, and supersedes all prior memoranda, correspondence, conversations, negotiations and agreements. This Agreement may be executed in several identical counterparts that together shall constitute but one and the
same Agreement. 
 33. Definitions. “Good Reason” means any of the following: (a) the assignment to
Employee of any duties inconsistent in any respect with Employee’s position (including status, offices, titles, and reporting requirements), authority, duties or responsibilities as in effect on the date hereof, any diminution in such position,

  
 10 

 Confidential Property of OSI Restaurant Partners, LLC

 David Deno 
  

 
authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and that is remedied by the Employer promptly after
receipt of notice thereof given by Employee, (b) a reduction by the Employer in Employee’s base salary or benefits as in on the date hereof, unless a similar reduction is made in salary and benefits of all similarly situated employees, or
(c) the Employer requires Employee to be based at or generally work from any location more than fifty miles from the location at which Employee was based or generally worked on the date hereof. 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

											
		 		 	“EMPLOYEE”	 	
				
	  
	 		 	 /s/ David Deno
	 	
	Witness	 		 	DAVID DENO	 	
					
	  
 Printed name of
witness
	 		 		  		 	
					
	  

Witness
	 		 		  		 	
					
	  
 Printed name of
witness
	 		 		  		 	
			
		 		 	“EMPLOYER”
			
	Attest:	 		 	 OSI RESTAURANT PARTNERS, LLC, a Delaware limited
 liability company

						
	By:	 	 /s/ Kelly Lefferts
	 		 	By:	  	 /s/ Joseph Kadow
	 	
		 	KELLY LEFFERTS, Assistant Secretary	 		 		  	JOSEPH J. KADOW, Chief Legal Officer	 	

  
 11Management Agreement

 Exhibit 10.54 
 MANAGEMENT AGREEMENT 
 This MANAGEMENT
AGREEMENT (this “Agreement”) is entered into as of June 14, 2007 by and among (i) Kangaroo Management Company I, LLC (the “Manager”), (ii) Kangaroo Holdings, Inc. (the
“Company”) and (iii) each of the Company’s subsidiaries that executes a counterpart signature page hereto (the “Subsidiaries”). 
 RECITALS 
 WHEREAS, the Company and its subsidiary, Kangaroo Acquisition,
Inc. (“MergerCo”), have been formed for the purpose of effecting the acquisition of OSI Restaurant Partners, Inc. (“OSI”) (the “Transaction”) pursuant to an Agreement and Plan of Merger, dated as of
November 5, 2006 (as amended or otherwise modified, the “Merger Agreement”), among the Company, MergerCo and OSI; 
 WHEREAS, it is contemplated that on or about the date hereof, as part of the Transaction, MergerCo will merge with and into OSI (the “Merger”) on the terms and subject to the conditions
of the Merger Agreement; and 
 WHEREAS, the Company desires to retain the Manager to provide management, consulting and other
advisory services (“Services”) to the Company and its Subsidiaries (collectively, the “Companies”), and the Manager is willing to provide such services on the terms set forth below. 

AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto, intending to be legally bound, hereby
agree as follows: 
 1. Services. The Manager hereby agrees that it will provide the following Services to the Companies:

 (a) financial, managerial and operational advice in connection with day-to-day operations, including, without
limitation, advice with respect to the development and implementation of strategies for improving the operating, marketing and financial performance of the Companies as the Manager and the Company may from time to time agree to; and 

(b) such other services (which may include financial and strategic planning and analysis, consulting services, human
resources and executive recruitment services and other services) as the Manager and the Company may from time to time agree to in writing. 
 The Manager will devote, in its discretion, such time and efforts to the performance of services contemplated hereby as the Manager deems reasonably necessary or appropriate; provided, however,
that no minimum number of hours is required to be devoted by the Manager on a weekly, monthly, annual or other basis. The Companies acknowledge that the Manager’s 

 
services are not exclusive to the Companies and that the Manager and each of its members, managers and officers may render similar services to other persons and entities. The Manager and the
Companies understand that the Companies may, at times, engage one or more investment bankers or financial advisers to provide services in addition to, but not in lieu of, services provided by the Manager under this Agreement. In providing services
to the Companies, the Manager will act as an independent contractor, and it is expressly understood and agreed that this Agreement is not intended to create, and does not create, any partnership, agency, joint venture or similar relationship, and
that no party has the right or ability to contract for or on behalf of any other party or to effect any transaction for the account of any other party. 
 2. Payment of Fees. During the Term, the Companies will pay to the Manager (or such affiliates as it may designate), an aggregate annual periodic fee (the “Periodic Fee”) of
$9,100,000 in exchange for the ongoing Services provided by the Manager under this Agreement, such fee being payable by the Companies quarterly in advance on or before the start of each calendar quarter; provided, however, that the Companies
will pay the Periodic Fee for the period from the date hereof through June 30, 2007 at the Effective Time (as defined in the Merger Agreement). The Periodic Fee will be prorated for any partial period of less than three months. Each payment
made pursuant to this Section 2 will be paid by wire transfer of immediately available federal funds to the accounts the Manager specifies to the Companies in writing prior to such payment. If, at any time, the Companies are not permitted to
make any payment or reimbursement due to the Manager under this Agreement under the terms of any credit agreement or other financing agreement to which any of the Companies is a party, such obligations shall accrue as provided herein, but payment or
reimbursement thereof shall be deferred until such time as (i) such payments are no longer prohibited under the terms of the applicable agreement or (ii) the loan amount due thereunder is repaid in full. In the event of the liquidation of
any of the Companies, all amounts due to the Manager under this Agreement shall be paid to the Manager before any liquidating distributions or similar payments are made to equityholders of any of the Companies (unless the equityholder is the Company
or one of its wholly-owned subsidiaries). 
 3. Term. This Agreement will continue in full force and
effect until December 31, 2017; provided that this Agreement shall be automatically extended each December 31st thereafter for an additional year unless the Company or the Manager provides written notice of its desire not to
automatically extend the term of this Agreement to one another at least 90 days prior to such
December 31st; and provided further, however,
that (i) the Manager may terminate this Agreement at any time and (ii) this Agreement will terminate automatically immediately prior to an Initial Public Offering or a Change of Control (each as defined in the Stockholders Agreement dated
as of the date of this Agreement among the Company and certain of its equityholders) unless the Company and the Manager determine otherwise (the period on and after the date hereof through the termination hereof being referred to herein as the
“Term”); and provided further, that each of (x) Sections 4, 6 and 9 (whether in respect of or relating to services rendered during or after the Term) will all survive any termination of this Agreement to the maximum
extent permitted under applicable law, and (y) any and all accrued and unpaid obligations of the Companies owed under Section 2 will be paid promptly upon any termination of this Agreement. At the end of the Term, all obligations of the
Manager under this Agreement will terminate, and any subsequent services rendered by the Manager to the Companies will be separately compensated. 

  
 -2-

 4. Expenses; Indemnification. 

(a) Expenses. The Companies will pay on demand all (i) reasonable out-of-pocket expenses incurred from and
after the Effective Time relating to the operations of, or the services provided by the Manager to, the Companies or any of their affiliates from time to time, and (ii) expenses incurred from and after the Effective Time by the Manager, its
members and their respective affiliates which the Manager determines are properly allocable to the Companies under this Agreement. 
 (b) Indemnity and Liability. Each of the Companies hereby indemnifies and agrees to exonerate and hold the Manager, and its former, current or future, direct or indirect, directors, officers,
employees, agents, advisors or affiliates, each former, current or future, direct or indirect, holder of any equity interests or securities of the Manager (whether such holder is a limited or general partner, member, equityholder or otherwise), each
former, current or future assignee of the Manager and each former, current or future director, officer, employee, agent, advisor, general or limited partner, manager, member, equityholder, affiliate, controlling person, representative or assignee of
any of the foregoing (each such person or entity, a “Related Person”) (collectively, the “Indemnitees”), each of whom is an intended third-party beneficiary of this Agreement, free and harmless from and against any
and all actions, causes of action, suits, claims, liabilities, damages and costs and expenses in connection therewith (including reasonable attorneys’ fees and expenses) incurred by the Indemnitees or any of them before or after the date of
this Agreement (collectively, the “Indemnified Liabilities”), as a result of, arising out of or in any way relating to the operations of, or services provided by the Manager to, the Companies or any of their affiliates from time to
time (including, but not limited to, any indemnification obligations assumed or incurred by any Indemnitee to or on behalf of the Companies or any of their accountants or other representatives, agents or affiliates), except for any such Indemnified
Liabilities arising from such Indemnitee’s gross negligence or willful misconduct. If and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the Companies hereby agree to make the maximum
contribution to the payment and satisfaction of each of the Indemnified Liabilities that is permissible under applicable law. For purposes of this Section 4(b), “gross negligence or willful misconduct” will be deemed to have occurred
only if so found in a final non-appealable judgment of a court of competent jurisdiction, in which case, to the extent any of the foregoing limitations is so determined to apply to any Indemnitee as to any previously advanced indemnity payments made
by the Companies, then such payments shall be promptly repaid by such Indemnitee to the Companies. The rights of any Indemnitee to indemnification hereunder will be in addition to any other rights any such person may have under any other agreement
or instrument referenced above, or any other agreement or instrument to which such Indemnitee is or becomes a party or is or otherwise becomes a beneficiary, or under law or regulation. If the Indemnitees are similarly situated with respect to their
interests in connection with a matter that may be an Indemnified Liability and such Indemnified Liability is not based on a “Third-Party Claim,” the Indemnitees may enforce their rights pursuant to this Section 4(b) with respect to
such matter only with 

  
 -3-

 
the consent of the Manager. In this Agreement, “Person” means any individual or corporation, association, partnership, limited liability company, joint venture, joint stock or
other company, business trust, trust, organization or other entity of any kind. A “Third-Party Claim” means any (i) claim brought by a Person other than the Companies, the Manager or any Indemnitee related to the Manager, and
(ii) any derivative claim brought in the name of any of the Companies that is initiated by a Person other than the Manager or any Indemnitee related to the Manager. 
 5. Covenants. The Company hereby covenants that it will cause each of the Subsidiaries to execute this Agreement immediately after the Effective Time. 

6. Disclaimer and Limitation of Liability; Opportunities; Information. 

(a) Disclaimer; Standard of Care. None of the Manager, its members, managers or officers make any representations
or warranties, express or implied, in respect of the services to be provided by the Manager hereunder. In no event will the Manager or any of the Indemnitees be liable to the Companies or any of their respective affiliates for any act, alleged act,
omission or alleged omission that does not constitute gross negligence or willful misconduct of the Manager as determined by a final, non-appealable determination of a court of competent jurisdiction. 

(b) Freedom to Pursue Opportunities. In recognition that the Manager and the Indemnitees currently have, and will
in the future have, or will consider acquiring, investments in numerous companies with respect to which the Manager or another Indemnitee may serve as an advisor, a director or in some other capacity, and in recognition that the Manager and
Indemnitees have myriad duties to various investors and partners, and in anticipation that the Companies and their respective affiliates, on the one hand, and the Manager (or one or more members, affiliates, associated investment funds or portfolio
companies or clients), on the other hand, may engage in the same or similar activities or lines of business and have an interest in the same areas of corporate opportunities, and in recognition of the benefits to be derived by the Companies
hereunder, and in recognition of the difficulties that may confront any advisor who desires and endeavors fully to satisfy such advisor’s duties in determining the full scope of such duties in any particular situation, the provisions of this
Section 6(b) are set forth to regulate, define and guide the conduct of certain affairs of the Companies as they may involve the Manager or its members, managers or officers. Except as the Manager, its members or any other Indemnitee may
otherwise agree in writing after the date hereof: 
 (i) The Manager and its Indemnitees will have the right:
(A) to directly or indirectly engage in any business (including, without limitation, any business activities or lines of business that are the same as or similar to those pursued by, or competitive with, the Companies and their respective
subsidiaries) or invest, own or deal in securities of any other Person so engaged in any business, (B) to directly or indirectly do business with any client or customer of the Companies and their respective affiliates, (C) to take any
other action that the Manager believes in good faith is necessary to or appropriate to fulfill its obligations as 

  
 -4-

 
described in the first sentence of this Section 6(b) and (D) not to present potential transactions, matters or business opportunities to the Companies or any of their respective
affiliates, and to pursue, directly or indirectly, any such opportunity for itself, and to direct any such opportunity to another Person. 
 (ii) The Manager and its Indemnitees will have no duty (contractual or otherwise) to communicate or present any corporate opportunities to the Companies or any of their respective affiliates, or to
refrain from any actions specified in Section 6(b)(i) above, and the Companies, on their own behalf and on behalf of their respective affiliates, hereby renounce and waive any right to require the Manager or any of its Indemnitees to act in a
manner inconsistent with the provisions of this Section 6(b). 
 (iii) The Manager and its Indemnitees will
not be liable to the Companies or any of their respective affiliates for breach of any duty (contractual or otherwise) by reason of any activities or omissions of the types referred to in this Section 6(b) or of any such Person’s
participation therein. 
 (c) Limitation of Liability. In no event will the Manager or any of its
Indemnitees be liable to the Companies or any of their affiliates for any indirect, special, incidental or consequential damages, including, without limitation, lost profits or savings, whether or not such damages are foreseeable, or for any
third-party claims (whether based in contract, tort or otherwise), relating to the services to be provided by the Manager hereunder. 
 (d) Information. The Companies will use their reasonable best efforts to furnish, or to cause their respective affiliates and agents to furnish, the Manager with such information (the
“Information”) as the Manager reasonably believes appropriate to its engagement hereunder. The Companies acknowledge and agree that (i) the Manager will rely on the Information and on information available from generally
recognized public sources in performing the Services, and (ii) the Manager does not assume responsibility for the accuracy or completeness of the Information and such other information. 

7. Assignment, etc. Except as provided below, no party hereto has the right to assign this Agreement without the prior written
consent of each of the other parties. Notwithstanding the foregoing, (i) the Manager may assign all or part of its rights and obligations hereunder to any affiliate of the Manager that provides services similar to those called for by this
Agreement, in which event the Manager will be released of all of its rights and obligations hereunder, and (ii) the provisions hereof for the benefit of Indemnitees other than the Manager itself shall also inure to the benefit of such other
Indemnitees and their successors and assigns. 
 8. Amendments and Waivers. No amendment or waiver of any term, provision
or condition of this Agreement will be effective unless in writing and executed by the Manager and the Companies (or their respective successors); provided, that the Manager may agree to waive or reduce any fee to which it is entitled
pursuant to this Agreement, and, unless otherwise 

  
 -5-

 
directed by the Manager, such waived portion shall revert to the Company or its designee. No waiver on any one occasion will extend to or effect or be construed as a waiver of any right or remedy
on any future occasion. Neither any course of dealing of any Person, nor any delay or omission in exercising any right or remedy, will constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto. 

9. Governing Law; Jurisdiction. 
 (a) Choice of Law. This Agreement, and all matters arising under or related to this Agreement, will be governed by and construed in accordance with the laws of the State of New York. 

(b) Consent to Jurisdiction. Each of the parties agrees that all actions, suits or proceedings arising out of,
based upon or relating to this Agreement or the subject matter hereof will be brought and maintained exclusively in the federal and state courts of the State of New York, City of New York, County of New York. Each of the parties hereto, by execution
hereof (i) hereby irrevocably submits to the jurisdiction of the federal and state courts in the State of New York, City of New York, County of New York for the purpose of any action, suit or proceeding arising out of or based upon this
Agreement or the subject matter hereof, and (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding, any claim that it is
not subject personally to the jurisdiction of the above-named courts, that it is immune from extraterritorial injunctive relief or other injunctive relief, that its property is exempt or immune from attachment or execution, that any such action,
suit or proceeding may not be brought or maintained in one of the above-named courts, that any such action, suit or proceeding brought or maintained in one of the above-named courts should be dismissed on grounds of forum non
conveniens, should be transferred to any court other than one of the above-named courts or should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other than one of the above-named courts or that this
Agreement or the subject matter hereof may not be enforced in or by any of the above-named courts. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert
indemnification rights set forth in this Agreement, the court in which such litigation is being heard will be deemed to be included in clause (i) above. Each of the parties hereto hereby consents to service of process in any such suit, action
or proceeding in any manner permitted by the laws of the State of New York, agrees that service of process by registered or certified mail, return receipt requested, at the address specified in or pursuant to Section 11 is reasonably calculated
to give actual notice and waives and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding any claim that service of process made in accordance with Section 11 does not constitute good and
sufficient service of process. The provisions of this Section 9 will not restrict the ability of any party to enforce in any court any judgment obtained in a court included in clause (i) above. 

  
 -6-

 (c) WAIVER OF JURY
TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT
BE WAIVED, EACH OF THE PARTIES HERETO HEREBY WAIVES, AND COVENANTS
THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE),
ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF
ANY ISSUE, CLAIM, DEMAND, CAUSE OF ACTION, ACTION, SUIT OR PROCEEDING
ARISING OUT OF, BASED UPON OR RELATING TO THIS AGREEMENT OR THE
SUBJECT MATTER HEREOF, IN EACH CASE, WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER IN CONTRACT OR TORT OR OTHERWISE. EACH OF THE
PARTIES HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY EACH OTHER
PARTY THAT THE PROVISIONS OF THIS SECTION 9(C) CONSTITUTE A MATERIAL
INDUCEMENT UPON WHICH SUCH PARTY IS RELYING AND WILL RELY IN ENTERING
INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. ANY OF THE
PARTIES HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS
AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH
OF THE PARTIES HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL
BY JURY. 
 10. Entire Agreement. This Agreement contains the entire understanding of the
parties with respect to the subject matter hereof, and supersedes any prior communication or agreement with respect thereto. 

11. Notice. All notices, demands and communications required or permitted under this Agreement will be in writing and will be
effective if served upon such other party and such other party’s copied persons as specified below to the address set forth for it and them below (or to such other address as such party will have specified by notice to each other party) if
(i) delivered personally, (ii) sent and received by facsimile or (iii) sent by certified or registered mail or by Federal Express, DHL, UPS or any other comparably reputable overnight courier service, postage prepaid, to the
appropriate address as follows: 
 If to the Companies, to them at: 

c/o Kangaroo Holdings, Inc. 
 2202 N. West Shore Blvd., Suite 500 
 Tampa, FL 33607 

Facsimile: (813) 281-2114 
 Attention: Chief Executive Officer 
 with copies to: 

Ropes & Gray LLP 
 One International Place 
 Boston, Massachusetts 02110 

Facsimile: (617) 951-7050 
 Attention: Howard S. Glazer 
        Jane D.
Goldstein 

  
 -7-

 If to the Manager, to it at: 
 Kangaroo Management Company I, LLC 
 c/o Bain Capital Partners, LLC 

111 Huntington Avenue 
 Boston, MA 02199 
 Facsimile: (617) 516-2010 

Attention: Andrew Balson 
 with copies to: 
 Ropes & Gray LLP 

One International Place 
 Boston, Massachusetts 02110 
 Facsimile: (617) 951-7050 

Attention: Howard S. Glazer 
        Jane D. Goldstein 
 and 

Catterton Partners 
 599 West Putnam Avenue 
 Greenwich, CT 06830 

Facsimile: (203) 629-4903 
 Attention: J. Michael Chu 
 and 

Latham & Watkins LLP 
 555 Eleventh Street, NW 
 Washington, DC 20004 

Facsimile: (202) 637-2201 
 Attention: Eric Stern 
 and 

Kirkland & Ellis LLP 
 Citigroup Center 
 153 East 53rd Street 

New York, NY 10022 
 Facsimile: (212) 446-6460 
 Attention: Michael Brosse 

  
 -8-

 Unless otherwise specified herein, such notices or other communications will be deemed
effective, (i) on the date received, if personally delivered or sent by facsimile during normal business hours, (ii) on the business day after being received if sent by facsimile other than during normal business hours, (iii) one
business day after being sent by Federal Express, DHL or UPS or other comparably reputable delivery service and (iv) five business days after being sent by registered or certified mail. Each of the parties hereto shall be entitled to specify a
different address by giving notice as aforesaid to each of the other parties hereto. 
 12. Severability. If, in any
judicial or arbitral proceedings, a court or arbitrator refuses to enforce any provision of this Agreement, then such unenforceable provision will be deemed eliminated from this Agreement for the purpose of such proceedings to the extent necessary
to permit the remaining provisions to be enforced, and the parties hereto shall negotiate in good faith to seek to enter into substitute provisions incorporating, as nearly as possible, the purpose, intent and effect of such unenforceable provision.
To the full extent, however, that the provisions of any applicable law may be waived, they are hereby waived to the end that this Agreement be deemed to be a valid and binding agreement enforceable in accordance with its terms, and in the event that
any provision hereof is found to be invalid or unenforceable, such provision will be construed by limiting it so as to be valid and enforceable to the maximum extent consistent with and possible under applicable law. 

13. Miscellaneous. 
 (a) Counterparts. This Agreement may be executed in any number of counterparts, and by each of the parties hereto in separate counterparts, each of which when so executed will be deemed to be an
original, and all of which together will constitute one and the same agreement. 
 (b) Interpretation. The headings
contained in this Agreement are for convenience of reference only, and will not in any way affect the meaning or interpretation hereof. As used herein the word “including” shall be deemed to mean “including without limitation.”
This Agreement reflects the mutual intent of the parties, and no rule of construction against the drafting party shall apply. 

[The remainder of this page is intentionally left blank.] 

  
 -9-

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on
its behalf as an instrument under seal as of the date first above written by its officer or representative thereunto duly authorized. 
  

					
	THE COMPANY:	 	KANGAROO HOLDINGS, INC.
		
		 	 /s/ Andrew Balson

		 	Name:	 	Andrew Balson
		 	Title:	 	President
		
	THE MANAGER:	 	KANGAROO MANAGEMENT COMPANY I, LLC
		
		 	 /s/ Andrew Balson

		 	Name:	 	Andrew Balson
		 	Title:	 	Authorized Person

 [Management Agreement] 

					
	THE SUBSIDIARIES:	 	OSI HOLDCO II, INC.
		
		 	 /s/ Ian Blasco

		 	Name:	 	Ian Blasco
		 	Title:	 	Vice President
		
		 	OSI HOLDCO I, INC.
		
		 	 /s/ Ian Blasco

		 	Name:	 	Ian Blasco
		 	Title:	 	Vice President
		
		 	OSI HOLDCO, INC.
		
		 	 /s/ Ian Blasco

		 	Name:	 	Ian Blasco
		 	Title:	 	Vice President
		
		 	OSI RESTAURANT PARTNERS, LLC
		
		 	 /s/ A. William Allen, III

		 	Name:	 	A. William Allen, III
		 	Title:	 	Chief Executive Officer

 [Management Agreement] 

 FIRST AMENDMENT TO MANAGEMENT AGREEMENT 

This First Amendment to Management Agreement is made and entered into this
10th day of May, 2012 by and among (i) Kangaroo
management Company I, LLC (the “Manager”), (ii) Bloomin’ Brands, Inc., formerly known as Kangaroo Holdings, Inc. (the “Company”) and (iii) each of the Company’s subsidiaries that executes a counterpart
signature page hereto (the “Subsidiaries”). 
 RECITALS 
 WHEREAS, the Company, the Subsidiaries and the Manager entered into that certain management Agreement dated as of June 14, 2007; and 
 WHEREAS, the parties desire to amend the Management Agreement as set forth below. 

AGREEMENT 
 Now, Therefore, in
consideration of the mutual covenants contained herein, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1.
Acknowledgement of Initial Public Offering. The parties acknowledge that the Company has filed a registration statement on Form S-1 with the Securities Exchange Commission, and that the offering contemplated in the registration statement will
qualify as an Initial Public Offering as defined in the Management Agreement. 
 2. Agreement to Terminate. The parties acknowledge that
the Management Agreement shall, pursuant to its terms, terminate immediately prior to an Initial Public Offering unless the Company and the Manager determine otherwise. The Company and the Manager hereby acknowledge that the Management Agreement
shall terminate immediately prior to an Initial Public Offering. 
 3. Termination Fee. The Company and the Manager hereby agree if the
Management Agreement is terminated due to an Initial Public Offering in 2012 the Company shall pay to Manager, within sixty days of completion of the Initial Public Offering, but in all events on or before December 31, 2012, a termination fee
of Eight Million Dollars ($8,000,000). The termination fee shall be paid in addition to the pro-rated Periodic fee as provided in the Management Agreement. 
 4. Ratification. The parties hereby ratify and confirm the Management Agreement and acknowledge the same is in full force and effect in accordance with its terms except as specifically modified
hereby. 
 SIGNATURE PAGES ATTACHED 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf as an
instrument under seal as of the date first above written by its officer or representative thereunto duly authorized. 
  

					
	THE COMPANY:	 	BLOOMIN’ BRANDS, INC
		
		 	 /s/ Elizabeth A. Smith

		 	Name:	 	Elizabeth A. Smith
		 	Title:	 	Chief Executive Officer
		
	THE MANAGER:	 	KANGAROO MANAGEMENT COMPANY I, LLC
		
		 	 /s/ Andrew Balson

		 	Name:	 	Andrew Balson
		 	Title:	 	Authorized Person

					
	THE SUBSIDIARIES:	 	OSI HOLDCO II, INC
		
		 	 /s/ Joseph J. Kadow

		 	Name:	 	Joseph J. Kadow
		 	Title:	 	Vice President
		
		 	OSI HOLDCO I, INC.
		
		 	 /s/ Joseph J. Kadow

		 	Name:	 	Joseph J. Kadow
		 	Title:	 	Vice President
		
		 	OSI HOLDCO, INC.
		
		 	 /s/ Joseph J. Kadow

		 	Name:	 	Joseph J. Kadow
		 	Title:	 	Vice President
		
		 	OSI RESTAURANT PARTNERS, LLC
		
		 	 /s/ Elizabeth A. Smith

		 	Name:	 	Elizabeth A. Smith
		 	Title:	 	Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}]]