Document:

Form of Restricted Stock Award under 2006 Executive Incentive Plan

 Exhibit 10.3 
 Name of Grantee: «First_Name» «Last_Name» 
 DUNKIN’
BRANDS GROUP HOLDINGS, INC. 
 Restricted Stock Award and Special Bonus Agreement 

Dunkin’ Brands Group Holdings, Inc. 
 130
Royall Street 
 Canton, Massachusetts 02021 
 Attention: Stephen Horn 
 Ladies and Gentlemen: 

The undersigned Grantee (i) acknowledges receipt of an award (the “Award”) of restricted stock from Dunkin’ Brands Group
Holdings, Inc., a Delaware corporation (the “Company”), under the Company’s 2006 Executive Incentive Plan (the “Plan”), subject to the terms set forth below and in the Plan, a copy of which Plan, as in effect
on the date hereof, is attached hereto as Exhibit A; and (ii) agrees with the Company as follows: 
 1.
Effective Date. This Agreement shall take effect as of May 26, 2006, which is the date of grant of the Award (the “Grant Date”). 
 2. Shares Subject to Award. The Award consists of a total of «Total_Shares» shares (the “Shares”) of Class A Common Stock, par value $.001 per share, of the
Company (“Stock”) with a fair market value on the Grant Date of $1.00 per Share and «Total_Value» in the aggregate. Of the Shares subject to the Award: 

A. 40% of the Shares shall be “Tranche 1 Shares”; 

B. 30% of the Shares shall be “Tranche 2 Shares”; and 

C. 30% of the Shares shall be “Tranche 3 Shares.” 

The Grantee’s rights to the Shares are subject to the restrictions described in this Agreement and the Plan (which is incorporated
herein by reference with the same effect as if set forth herein in full) in addition to such other restrictions, if any, as may be imposed by law. 
 3. Nontransferability of Shares. The Shares acquired by the Grantee pursuant to this Agreement shall not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of except as
provided below and in the Plan, subject to compliance with the restrictions set forth in the Stockholders Agreement dated as of March 1, 2006 among the Grantee, the Company, certain of the Company’s subsidiaries and certain of the
Company’s stockholders (the “Stockholders Agreement”). 
 4. Forfeiture Risk. If the Grantee ceases
to be employed by the Company and its subsidiaries for any reason, including death, then (subject to any contrary provision of this 

 
Agreement or any other written agreement between the Company and the Grantee with respect to vesting and termination of Shares granted under the Plan) any and all outstanding and unvested Shares
acquired by the Grantee hereunder shall be automatically and immediately forfeited. Upon a Change of Control, the Tranche 2 Shares and Tranche 3 Shares will vest to the extent provided in Section 6 below. Any and all outstanding Tranche 2
Shares and Tranche 3 Shares that have not previously vested and do not vest as a result of a Change of Control shall be automatically and immediately forfeited following such Change of Control. Any and all outstanding Tranche 2 Shares that have not
previously vested and do not vest on or prior to August 31, 2010 shall be automatically forfeited following the determination of the Company’s Adjusted EBITDA for the year then ended. The Grantee hereby (i) appoints the Company as the
attorney-in-fact of the Grantee to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a
precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other
actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder. 
 5. Certificates. The Company will issue the Grantee a certificate representing the Shares. If unvested Shares are held in book entry form at any time thereafter, the Grantee agrees that the Company
may give stop transfer instructions to the depositary, stock transfer agent or other keeper of the Company’s stock records to ensure compliance with the provisions hereof. 

6. Vesting of Shares. The Shares acquired hereunder shall vest during the Grantee’s employment by the Company or its
subsidiaries in accordance with the provisions of this Section 6 and applicable provisions of the Plan, as follows: 
 A. Tranche 1: The Tranche 1 Shares will vest (i) with respect to 20% of the Tranche 1 Shares on March 1, 2007 and 20% of the Tranche 1 Shares on each subsequent March 1st until 100% of the Tranche 1 Shares are vested and (ii) if
earlier, with respect to 100% of the unvested Tranche 1 Shares upon a Change of Control. 
 B. Tranche
2: Prior to a Change of Control, the Tranche 2 Shares will vest in installments on August 31, 2006, August 31, 2007, August 31, 2008, August 31, 2009 and August 31, 2010 with respect to a number of Shares equal
to (i) the EBITDA Vesting Percentage for the fiscal year ended on such August 31st multiplied by the number of Tranche 2 Shares plus (ii) any Catch-up Vesting Shares that are vesting on such date. The determination of whether Tranche 2 Shares vest for any year in the
Performance Period will be made at the time that the Company’s independent auditors issue a report on the Company’s financial statements for such year, and in any event on or prior to November 30th of such year, in either case effective as of August 31. In
addition, upon the consummation of a Change of Control prior to August 31, 2010, a sufficient number of Tranche 2 Shares will vest so that the total number of vested Tranche 2 Shares (including any previously vested Tranche 2 Shares) is at
least equal to the Tranche 2 Investor IRR Vesting Percentage following such Change of Control multiplied by the number of Tranche 2 Shares. Tranche 2 Shares that vest pursuant to the first sentence of

  
 -2-

 
this Section 6.B shall remain vested notwithstanding anything to the contrary in the second sentence of this Section 6.B. 

C. Tranche 3: The Tranche 3 Shares will become eligible to vest (subject to meeting the Investor IRR hurdles
described below) (i) with respect to 25% of the Tranche 3 Shares on March 1, 2007 and 25% of the Tranche 3 Shares on each subsequent March 1st until 100% of the Tranche 3 Shares have become eligible to vest and (ii) if earlier, with respect to 100% of the
unvested Tranche 3 Shares upon a Change of Control. But even after becoming eligible to vest (as described herein), actual vesting will depend on satisfaction of the following performance criteria. On any Tranche 3 Measurement Date, any unvested
Tranche 3 Shares that have become eligible to vest pursuant to the previous sentence will vest so that the total number of vested Tranche 3 Shares (including any previously vested Tranche 3 Shares) is at least equal to the highest current or
historic Tranche 3 Investor IRR Vesting Percentage multiplied by the number of Tranche 3 Shares that have become eligible to vest at such time. For example, if, following an Initial Public Offering, the Tranche 3 Investor IRR Vesting Percentage is
equal to 100%, but only 25% of the Tranche 3 Shares have become eligible to vest, then the remaining 75% of the Tranche 3 Shares would vest over three years as they become eligible to vest, subject only to the continued employment of the Grantee,
but without regard to any subsequent decline in the Market Value or the Investor IRR measured at a subsequent Change of Control. 

Notwithstanding the foregoing (but subject to any contrary provision of this Agreement or any other written agreement between the Company and the Grantee
with respect to vesting and termination of Shares granted under the Plan), no Shares shall vest on any date specified above unless the Grantee is then, and since the Grant Date has continuously been, employed by the Company or its subsidiaries.

 7. Representations and Warranties of the Grantee. The Grantee represents and warrants that: 

A. Authorization. The Grantee has full legal capacity, power, and authority to execute and deliver this Agreement and to perform
the Grantee’s obligations hereunder. This Agreement has been duly executed and delivered by Grantee and is the legal, valid, and binding obligation of Grantee enforceable against Grantee in accordance with the terms hereof. 

B. No Conflicts. The execution, delivery, and performance by the Grantee of this Agreement and the consummation by the Grantee of
the transactions contemplated hereby will not, with or without the giving of notice or lapse of time, or both (i) violate any provision of law, statute, rule or regulation to which the Grantee is subject, (ii) violate any order, judgment
or decree applicable to the Grantee, or (iii) conflict with, or result in a breach of default under, any term or condition of any agreement or other instrument to which the Grantee is a party or by which the Grantee is bound. 

C. Review, etc. The Grantee has thoroughly reviewed this Agreement in its entirety. The Grantee has had an opportunity to obtain
the advice of counsel (other than counsel to 

  
 -3-

 
the Company or its Affiliates) prior to executing this Agreement, and fully understands all provisions of the Plan and this Agreement. 

D. Investment Intent. The Grantee is acquiring the Shares solely for the Grantee’s own account for investment and not with a
view to or for sale in connection with any distribution of the Shares or any portion thereof and not with any present intention of selling, offering to sell or otherwise disposing of or distributing the Shares or any portion thereof in any
transaction other than a transaction exempt from registration under the Securities Act. The Grantee further represents that the entire legal and beneficial interest of the Shares is being acquired, and will be held, for the account of the Grantee
only and neither in whole nor in part for any other person. 
 E. Information Concerning the Company. The Grantee is aware
of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. The Grantee further represents and warrants that the
Grantee has discussed the Company and its plans, operations and financial condition with its officers, has received all such information as the Grantee deems necessary and appropriate to enable the Grantee to evaluate the financial risk inherent in
acquiring the Shares and has received satisfactory and complete information concerning the business and financial condition of the Company in response to all inquiries in respect thereof. 

F. Capacity to Protect Interests. The Grantee has either (i) a preexisting personal or business relationship with the Company
or any of its officers, directors, or controlling persons, consisting of personal or business contacts of a nature and duration to enable the Grantee to be aware of the character, business acumen and general business and financial circumstances of
the person with whom such relationship exists, or (ii) such knowledge and experience in financial and business matters as to make the Grantee capable of evaluating the merits and risks of an investment in the Shares and to protect the
Grantee’s own interests in the transaction, or (iii) both such relationship and such knowledge and experience. 
 8.
Company Representations. 
 A. Authorization. The Company has full legal capacity, power, and authority to execute
and deliver this Agreement and to perform the Company’s obligations hereunder. This Agreement has been duly executed and delivered by the Company and is the legal, valid, and binding obligation of the Company enforceable against the Company in
accordance with the terms hereof. 
 B. No Conflicts. The execution, delivery, and performance by the Company of this
Agreement and the consummation by the Company of the transactions contemplated hereby will not, with or without the giving of notice or lapse of time, or both (i) violate any provision of law, statute, rule or regulation to which the Company is
subject, (ii) violate any order, judgment or decree applicable to the Company, or (iii) conflict with, or result in a breach of default under, any term or condition of any agreement or other instrument to which the Company is a party or by
which the Company is bound. 

  
 -4-

 9. Legend. Any certificates representing Shares shall contain a legend substantially
in the following form: 
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE
TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE COMPANY’S 2006 EXECUTIVE INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND DUNKIN’ BRANDS GROUP HOLDINGS, INC. COPIES OF SUCH PLAN AND
AGREEMENT ARE ON FILE IN THE OFFICES OF DUNKIN’ BRANDS GROUP HOLDINGS, INC. 
 Upon the request of the Grantee, as soon as practicable
following the vesting of any such Shares the Company shall cause a certificate or certificates covering such Shares, without the aforesaid legend, to be issued and delivered to the Grantee. If any Shares are held in book-entry form, the Company may
take such steps as it deems necessary or appropriate to record and manifest the restrictions applicable to such Shares. 
 10.
Dividends, etc. The Grantee shall be entitled to (i) receive any and all dividends or other distributions paid with respect to those vested and unvested Shares of which the Grantee is the record owner on the record date for such dividend
or other distribution, and (ii) subject to the terms of the Stockholders Agreement, vote any Shares of which the Grantee is the record owner on the record date for such vote; provided, however, that any property (other than cash) distributed
with respect to a share of Stock (the “Associated Share”) acquired hereunder, including without limitation a distribution of Stock by reason of a stock dividend, stock split or otherwise, or a distribution of other securities with
respect to an Associated Share, shall be subject to the restrictions of this Agreement in the same manner and for so long as the Associated Share remains subject to such restrictions, and shall be promptly forfeited if and when the Associated Share
is so forfeited; and further provided, that the Administrator may require that any cash distribution with respect to the Shares other than a normal cash dividend be placed in escrow or otherwise made subject to such restrictions as the Administrator
deems appropriate to carry out the intent of the Plan. Any amount so placed in escrow shall be paid to the Grantee promptly upon the vesting, if any, of the Associated Shares. References in this Agreement to the Shares shall refer, mutatis mutandis,
to any such restricted amounts. 
 11. Sale of Vested Shares. The Grantee understands that the sale of any Share, once it
has vested, will remain subject to (i) satisfaction of applicable tax withholding requirements, if any, with respect to the vesting or transfer of such Share; (ii) the completion of any administrative steps (for example, but without
limitation, the transfer of certificates); (iii) applicable requirements of federal and state securities laws; and (iv) the terms and conditions of the Stockholders Agreement to the extent that they are then in effect. 

12. Certain Tax Matters and Special Bonus. The Grantee expressly acknowledges the following: 

A. The Grantee has been advised to confer promptly with a professional tax advisor to consider whether the Grantee should make a so-called
“83(b) election” with respect to the 

  
 -5-

 
Shares. Any such election, to be effective, must be made in accordance with applicable regulations and within thirty (30) days following the date of this Award. The Company has made no
recommendation to the Grantee with respect to the advisability of making such an election. 
 B. The award or vesting of the
Shares acquired hereunder, and the payment of dividends with respect to such Shares, may give rise to “wages” subject to withholding. 
 C. The Company hereby agrees that if, and only if, the Grantee makes a timely 83(b) election with respect to all of the Shares, the Company will pay to the Grantee a special bonus (the “Special
Bonus”) equal to 65% of the value of the Shares on the date hereof as such value is set forth in Section 2 above. If the value of the Shares is finally adjudicated to be higher than the value set forth in Section 2 above after a
successful challenge by the IRS in a proceeding in which the Company shall have a meaningful opportunity to defend its determination of the value of the Shares, then the Company will pay to the Grantee an additional amount equal to 65% of the
increase in the value of the Shares over the amount set forth in Section 2. The Company shall apply a portion of any such Special Bonus to satisfy in full any required withholding or other taxes required to be withheld in connection with the
Award or such Special Bonus and shall pay the remaining portion on or prior to April 15th of the year following the year of the Grant Date. 
 13. Definitions. The
initially capitalized term Grantee shall have the meaning set forth on the first page of this Agreement; initially capitalized terms not otherwise defined herein shall have the meaning provided in the Plan and the Stockholders Agreement, and, as
used herein, the following terms shall have the meanings set forth below: 
 “Adjusted EBITDA” means, with respect to
a fiscal year, the Company’s consolidated net income before interest, taxes, depreciation and amortization expense of the Company on a consolidated basis for such year, determined based on the Company’s audited financial statements.
Adjusted EBITDA shall also exclude (i) amortization expense and other expenses (including severance costs) arising out of the closing of the acquisition of DBI by the Investors, (ii) amortization expense and other expenses arising out of
the closing of the asset-backed security financing used to repay indebtedness incurred in connection with the acquisition of DBI by the Investors, (iii) compensation expense or amortization expense arising out of grants by the Company of
restricted stock, stock options, and bonuses under any restricted stock award and special bonus agreement, (iv) the effect of purchase accounting adjustments made in connection with the acquisition of DBI by the Investors, (v) expense for
management fees paid to the Investors or their affiliates, and (vi) compensation expense arising out of payments made under DBI’s Medium Term Incentive Program. 
 “Affiliate” shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with such Person. 

“Catch-up Vesting Shares” means the number of Tranche 2 Shares, if any, that (i) did not vest in a previous fiscal year in
the Performance Period because the EBITDA Vesting Percentage in such fiscal year was less than 20%, (ii) have not since vested, and (iii) would have vested if all or a portion of the Excess EBITDA in the current fiscal year were
“carried back” and added to 

  
 -6-

 
the Total EBITDA for such previous fiscal year in the Performance Period in determining the EBITDA Vesting Percentage for such year, provided, however, that any portion of the
Excess EBITDA for any fiscal year that is so “carried back” and included in the calculation of Total EBITDA for any other fiscal year shall not be counted included in the calculation of Total EBITDA for any other fiscal year (i.e. it shall
not be double-counted). 
 “Change of Control” has the meaning set forth in the Stockholders Agreement. 

“EBITDA Vesting Percentage” means, with respect to a fiscal year in the Performance Period, the percentage, which shall not be
less than 0% and shall not exceed 20%, resulting from the following formula: 
  

					
	 20% (the annual maximum) x
	 	  

Total EBITDA – Minimum EBITDA
	  	
	 	  
	 	Maximum EBITDA – Minimum EBITDA

 “Excess EBITDA” means, with respect to a fiscal year, the difference, if a positive number, between (i) the Adjusted EBITDA for such fiscal year minus (ii) the Maximum EBITDA for such
fiscal year. 
 “Initial Public Offering” means the initial public offering of the common stock of the Company.

 “Investor IRR” means the internal rate of return of all of the Investors, measured in the aggregate, on their cash
investment to purchase Investor Shares of the Company. The internal rate of return shall take into account the amount and timing of all cash dividends and distributions to such Investors in respect of their Investor Shares, all cash proceeds from
the sale or other disposition of such Investor Shares and the fair market value, as determined in good faith by the Board, of any other property, securities or other consideration received by the Investors in respect of such Investor Shares. On any
Tranche 3 Measurement Date following the Initial Public Offering, the Investor IRR shall be measured as if the Investors had sold all of the Investor Shares then held by the Investors at their Market Value on such Tranche 3 Measurement Date.

 “Investor Shares” has the meaning set forth in the Stockholders Agreement and shall include any stock, securities
or other property or interests received by the Investors in respect of Investor Shares in connection with any stock dividend or other similar distribution, stock split or combination of shares, recapitalization, conversion, reorganization,
consolidation, split-up, spin-off, combination, repurchase, merger, exchange of stock or other transaction or event that affects the Company’s capital stock occurring after the date of issuance. 

“Investors” shall have the meaning set forth in the Stockholders Agreement. 

“Market Value” shall mean with respect to any Common Stock of the Company publicly traded on a national exchange or the Nasdaq
National Market or any comparable system, the lower of (i) the average of the 60 highest average intra-day trading prices during the previous 180 days on the exchange or market on which the Company’s Common Stock is traded or quoted and
(ii) the lowest average intra-day trading price on any of the 20 consecutive trading days prior 

  
 -7-

 
to the Tranche 3 Measurement Date, provided, that for purposes of clause (ii), the lowest average intra-day trading price in the first fifteen days in such 20 day period prior to the
Tranche 3 Measurement Date shall be ignored. 
 “Maximum EBITDA” means, with respect to a specified fiscal year within
the Performance Period, the Adjusted EBITDA target for the Company for such fiscal year, which target shall be adjusted from time to time in good faith by the Compensation Committee to reflect the consequences of material acquisitions or
dispositions or any series of immaterial acquisitions or dispositions that, in the aggregate, would be material, and changes in GAAP promulgated by FASB or the SEC. Such adjustment by the Compensation Committee shall be made for the purpose of
providing a consistent basis from year to year for computing the relationship of Adjusted EBITDA to Maximum EBITDA in order to prevent the dilution or enlargement of the Grantee’s rights under this Agreement. The initial Adjusted EBITDA targets
for the Company are set forth below: 
  

																					
	 	  	Fiscal Year Ended August 31st	 
	 Maximum EBITDA
	  	2006	 	  	2007	 	  	2008	 	  	2009	 	  	2010	 
	(in millions)	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 
	 Adjusted EBITDA
	  	$	217.322	  	  	$	247.389	  	  	$	279.280	  	  	$	314.462	  	  	$	352.820	  

 For the avoidance of
doubt, the target for year 2006 is a target for Adjusted EBITDA earned during all of fiscal year 2006. 
 “Minimum
EBITDA” means, with respect to a specified fiscal year within the Performance Period, the minimum amount of Adjusted EBITDA at which Tranche 2 Shares will begin to vest, which shall be an amount of Adjusted EBITDA calculated as a percentage of
the then Maximum EBITDA as set forth below: 
  

							
	 Fiscal Year
	  	 Minimum EBITDA
	  	Dollar Amount	 
	 	  	 	  	(in millions)	 
	 2006
	  	98% of Maximum EBITDA	  	$	212.975	  
	 2007
	  	95% of Maximum EBITDA	  	$	235.019	  
	 2008
	  	95% of Maximum EBITDA	  	$	265.316	  
	 2009
	  	95% of Maximum EBITDA	  	$	298.739	  
	 2010
	  	95% of Maximum EBITDA	  	$	335.179	  

 “Performance
Period” means the five (5) year period ending on August 31, 2010. 
 “Person” shall mean any
individual, partnership, corporation, association, trust, joint venture, unincorporated organization or other entity. 

“Total EBITDA” means, with respect to a fiscal year in the Performance Period, the sum of (i) the Adjusted EBITDA for such
fiscal year plus (ii) any Excess EBITDA for the previous fiscal year that was not included in the calculation of Catch-up Vesting Shares for any prior fiscal year. In no event will Total EBITDA include Excess EBITDA that is carried forward by

  
 -8-

 
more than one year, nor shall Total EBITDA count the same Excess EBITDA as being earned in more than one year. 
 “Tranche 2 Investor IRR Vesting Percentage” means a percentage determined as follows: 
  

	 	(i)	100%, if, after giving effect to any vesting of the Tranche 2 Shares on a Change of Control, the Investor IRR is equal to or greater than 20%; 

 

	 	(ii)	0%, if the Investor IRR is equal to or less than 18%; and 

  

	 	(iii)	if, after giving effect to any vesting of the Tranche 2 Shares on a Change of Control, the Investor IRR is greater than 18% and less than 20%, then the Tranche 2
Investor IRR Vesting Percentage will be a percentage between 0% and 100% determined on a straight line basis as the Investor IRR increases from 18% to 20%. That is, the Tranche 2 Investor IRR Vesting Percentage = (Investor IRR after giving effect to
any vesting of the Tranche 2 Shares - 18%)/2%. For example, if the Investor IRR is 19.5%, the Tranche 2 Investor IRR Vesting Percentage would equal 75%, and if Investor IRR is 18.5%, the Tranche 2 Investor IRR Vesting Percentage would equal 25%.

 Thus, in the event a Change of Control prior to November 30, 2010 at a price that (a) would result in an Investor IRR
of over 18% after giving effect to any applicable vesting of Tranche 1 Shares but before giving effect to the acceleration or satisfaction of performance vesting requirements applicable to Tranche 2 Shares under the formula described above
but (b) would result in an Investor IRR of less than 18% after giving effect to any such vesting of Tranche 2 Shares triggered by such Change of Control pursuant to the formula described above, then only a portion of the Tranche 2 Shares
that would otherwise vest under such formula will be deemed vested in a manner that will permit, to the maximum extent consistent with satisfaction of such 18% Investor IRR threshold (after giving effect to the vesting of Tranche 1 Shares), vesting
of Tranche 2 Shares under that formula. In calculating the Tranche 2 Investor IRR Vesting Percentage under clause (iii) above, it will therefore be necessary to iterate until a reasonably precise percentage is arrived at that both
(i) takes into account the dilution to the Investors and reduction in the Investor IRR as a result of the vesting of Tranche 2 Shares and (ii) arrives at a percentage that satisfies the formula set forth in clause (iii) above.

 “Tranche 3 Investor IRR Vesting Percentage” means a percentage determined as follows: 

 

	 	(i)	100%, if, after giving effect to any vesting of the Tranche 3 Shares on a Tranche 3 Measurement Date, the Investor IRR is equal to or greater than 24%;

  

	 	(ii)	0%, if the Investor IRR is less than 20%; 

  

	 	(iii)	20%, if the Investor IRR is 20%; and 

  
 -9-

	 	(iv)	if, after giving effect to any vesting of the Tranche 3 Shares on a Tranche 3 Measurement Date, the Investor IRR is greater than 20% and less than 24%, then the Tranche
3 Investor IRR Vesting Percentage will be a percentage between 20% and 100% determined on a straight line basis as the Investor IRR increases from 20% to 24%. That is, if after giving effect to any vesting, the Investor IRR is between 20% and 24%,
the Tranche 3 Investor IRR Vesting Percentage = 20% + [80% x (Investor IRR after giving effect to any vesting of the Tranche 2 Shares and any vesting of the Tranche 3 Shares - 20%)/4%]. For example, if the Investor IRR is 23%, the Tranche 3
Investor IRR Vesting Percentage would equal 80%, and if Investor IRR is 21%, the Tranche 3 Investor IRR Vesting Percentage would equal 40%. 

 In the event a Change of Control at a price that (a) would result in an Investor IRR of over 20% after giving effect to any applicable vesting of Tranche 1 Shares and Tranche 2 Shares but before
giving effect to the acceleration or satisfaction of performance vesting requirements applicable to Tranche 3 Shares under the formula described above but (b) would result in an Investor IRR of less than 20% after giving effect to any
such vesting of Tranche 3 Shares triggered by such Change of Control pursuant to the formula described above, then only a portion of the Tranche 3 Shares that would otherwise vest under such formula will be deemed vested in a manner that will
permit, to the maximum extent consistent with satisfaction of such 20% Investor IRR threshold (after giving effect to the vesting of Tranche 1 Shares and Tranche 2 Shares), vesting of Tranche 3 Shares under that formula. Thus, in calculating the
Tranche 3 Investor IRR Vesting Percentage under clause (iv) above, it will therefore be necessary to iterate until a reasonably precise percentage is arrived at that both (i) takes into account the dilution to the Investors and reduction
in the Investor IRR as a result of the vesting of Tranche 3 Shares and (ii) arrives at a percentage that satisfies the formula set forth in clause (iv) above. 
 “Tranche 3 Measurement Date” means (i) the six month anniversary of an Initial Public Offering, (ii) each three month anniversary thereafter and (iii) the date of a Change of
Control. 
 “Vest” as used herein with respect to any Share means the lapsing of the restrictions described herein
with respect to such Share. 
 14. General. For purposes of this Agreement and any determinations to be made by the
Administrator or Compensation Committee, as the case may be, hereunder, the determinations by the Administrator or Compensation Committee, as the case may be, shall be binding upon the Grantee and any transferee. 

[Remainder of the page intentionally left blank] 

  
 -10-

 
	
	Very truly yours,
	
	  
 «First_Name»
«Last_Name»

	
	Address:
	
	«Street»
	«City», «State» «Zip»

 Dated: May 26, 2006 
 The foregoing Restricted Stock 

Award and Special Bonus Agreement is hereby accepted: 
  

	
	DUNKIN’ BRANDS GROUP HOLDINGS, INC.
	
	  

	
	Name:
	
	Title:

 Section 83(b) Election 

May 26, 2006 
 Department
of the Treasury 
 Internal Revenue Service Center 
 Andover, MA 05501-0002 
 Ladies and Gentlemen: 

I hereby make an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended. The following information is
submitted as required by Treas. Reg. § 1.83-2(e): 
  

					
	1.	  	Name of Taxpayer:	  	«First_Name» «Last_Name»
			
		  	Home Address:	  	«Street»
		  		  	«City», «State» «Zip»
			
		  	 Social Security No.:
	  	______________________
			
	2.	  	Property for which election is made:	  	«Total_Shares» Shares of Class A Common Stock of Dunkin’ Brands Group Holdings, Inc.
			
	3.	  	Date of Transfer:	  	May 26, 2006
			
	4.	  	Taxable year for which election is made:	  	Calendar year 2006
			
	5.	  	Restrictions to which property is subject:	  	The shares are subject to vesting, accelerated vesting and forfeiture provisions as specified in a restricted stock award agreement and are restricted as to transfer in accordance
with a stockholders agreement. The shares will be forfeited if employment ceases prior to vesting.
			
	6.	  	The fair market value of the property at the time of its transfer to me (without regard to restrictions) was:	  	«Total_Value»
			
	7.	  	Amount paid for the property:	  	$0.00

 A copy of this election has been
furnished to the Company and to each other person, if any, required to receive the election pursuant to Treas. Reg. § 1.83-2(d). 

  
 -1-

 Please acknowledge receipt of this Section 83(b) Election by signing or stamping the
enclosed copy of this letter and return it in the enclosed, self-addressed, stamped envelope. 
  

	
	Very truly yours,
	
	  
 «First_Name»
«Last_Name»

  

	cc:	Dunkin’ Brands Group Holdings, Inc. 

  
 -2-Amended and Restated 2005 Dunkin' Brands Inc Non-Qualified Deferred Compensation

 Exhibit 10.6 
 [LOGO] 
 2005 DUNKIN’ BRANDS, INC. NON-QUALIFIED DEFERRED COMPENSATION

 PLAN DOCUMENT 
 AMENDED AND RESTATED 
 January 1, 2009 

					
	 ARTICLE 1. ESTABLISHMENT OF PLAN
	  	 	4	  
		
	 ARTICLE 2. DEFINITIONS
	  	 	4	  
		
	 ARTICLE 3. ADMINISTRATION
	  	 	6	  
	 3.1.      Committee
	  			
	 3.2.      Delegation by Committee
	  			
	 3.3.      Uniformity of Discretionary Acts
	  			
	 3.4.      Claims Review Procedure
	  			
	 3.5.      Indemnification
	  			
		
	 ARTICLE 4. SELECTION OF PARTICIPANTS
	  	 	9	  
		
	 ARTICLE 5. DEFERRAL OF COMPENSATION
	  	 	9	  
	 5.1.      Eligible Deferral Compensation
	  			
	 5.2.      Deferral Elections
	  			
	 5.3.      Annual Company Matching Amount
	  			
		
	 ARTICLE 6. INTEREST EQUIVALENT FACTOR & MEASUREMENT FUNDS
	  	 	10	  
	 6.1.      Measurement Funds
	  			
	 6.2.      Upon Change of Control
	  			
	 6.3.      Crediting/Debiting of Account Balances
	  			
		
	 ARTICLE 7. PARTICIPANT ACCOUNTS
	  	 	13	  
	 7.1.      Establishment of Accounts
	  			
	 7.2.      Adjustments to Accounts
	  			
		
	 ARTICLE 8. DISTRIBUTION OF ACCOUNT BENEFITS
	  			
	 8.1.      Following Separation from Service
	  			
	 8.2.      In-Service Distribution at Specified Date as Elected by the Participant
	  			
	 8.3.      Unforeseen Financial Emergency
	  			
	 8.4.      Disability
	  			
	 8.5.      Change of Control
	  			
	 8.6.      Tax Withholding
	  			
	 8.7.      Compliance with Section 409A
	  			
		
	 ARTICLE 9. BENEFICIARY BENEFITS
	  	 	13	  
		
	 ARTICLE 10. NATURE OF CLAIM FOR PAYMENTS
	  			
		
	 ARTICLE 11. ASSIGNMENT OR ALIENATION
	  	 	16	  
	 11.1.    Prohibition on Assignment
	  			
	 11.2.    Domestic Relations Orders
	  			
		
	 ARTICLE 12. NO CONTRACT OF EMPLOYMENT
	  	 	17	  

					
	 ARTICLE 13. AMENDMENT OR TERMINATION OF PLAN
	  	 	17	  
	 13.1.    Right to Amend
	  			
	 13.2.    Amendment Required By Law
	  			
		
	 ARTICLE 14. TERMINATION
	  	 	18	  
	 14.1.    Right to Terminate Future Accruals
	  			
	 14.2.    Termination and Liquidation of the Plan
	  			
		
	 ARTICLE 15. MISCELLANEOUS
	  	 	18	  
	 15.1.    Entire Agreement
	  			
	 15.2.    Payment for the Benefit of an Incapacitated Individual
	  			
	 15.3.    Governing Law
	  			
	 15.4.    Severability
	  			
	 15.5.    Headings and Subheadings
	  			

 ARTICLE 1. ESTABLISHMENT OF PLAN 

Dunkin’ Brands, Inc. established the Dunkin’ Brands, Inc. Non-Qualified Deferred Compensation Plan effective as of
January 1, 2005. The purpose of the Plan is to attract, retain and motivate certain executive employees, as well as those of its subsidiaries and affiliates, by providing them with the opportunity to defer receipt of certain amounts of
compensation. The Plan is intended to be an unfunded plan maintained by the employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of Sections 201(2),
301(a)(3), 401(a)(1) and 4021(b)(6) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). It is also intended to be compliant with the requirements of Section 409A of the Internal Revenue Code
(“Code”). The Plan shall be administered in a manner consistent with those intents. 
 The Plan is hereby and amended
and restated, effective as of January 1, 2009, to comply with final regulations issued by the Internal Revenue Service (the “IRS”) under Code Section 409A. 
 ARTICLE 2. DEFINITIONS 
 As used herein, the masculine pronoun shall include
the feminine gender, and the singular shall include the plural, and the plural, the singular, and the following terms shall have the following meanings unless a different meaning is clearly required by the context. 

“Account” means the separate account for a Participant established pursuant to Article VII, §7.1 which consists of
the Participant’s Deferrals, the Annual Company Matching Amounts and earnings thereon, which may pass to a Beneficiary pursuant to Article 9. 
 “Administrator” means the Committee who is responsible for the administration and operation of the Plan. 
 “Annual Company Matching Amount” for any one Plan Year shall be the amount determined in accordance with Article V, §5.3. 

“Beneficiary” means any person or persons so designated in accordance with the provision of Article 9. 

“Cash Balance Plan” means the qualified Cash Balance Plan offered to employees of the Company hired before March 1,
2005. 
 “Change of Control” means one of the following circumstances, determined in accordance with
Section 409A and IRS regulations issued thereunder: (1) A change in ownership, which occurs when one person (or more than one person acting as a group) acquires ownership of corporate stock constituting more than 50% of the total
fair market value or total voting power of stock of the corporation. (2) A change in effective control, which occurs when any one person (or more than one person acting as a group) acquires (during the 12-month period ending on the date
of the most recent acquisition) ownership of corporate stock constituting 35% or more of the total voting power of stock of the corporation, or when a majority of the Board of Directors is replaced during a 12-month period and such new appointments
are not supported by a majority of the 

 
members of the current Board. (3) A change in ownership of a substantial portion of the assets of the corporation, which occurs when one person (or more than one person acting as a
group) acquires (during the 12-month period ending on the date of the most recent acquisition by such person) assets from the corporation that have a gross fair market value of at least 40% of the total gross fair market value of all assets of the
corporation immediately prior to such acquisitions. 
 “Code” means the Internal Revenue Code of 1986, as
amended. 
 “Committee” means a committee of no less that two and no more than five persons appointed from time
to time by the Chief Executive Officer or President who are responsible for the administration of the plan. 

“Company” or “the Corporation” means Dunkin’ Brands, Inc. 

“Deferral Compensation” is defined in Section 5.1. 

“Deferral Date” is defined in Section 8.2. 

“Deferrals” means Deferral Compensation credited to a Participant’s Account during a calendar year as a result of a
Participant’s elections pursuant to Section 5.2, plus, except where the context otherwise requires, amounts attributable to amounts deferred during such calendar year (i.e., earnings and losses). 

“Eligible Deferral Compensation” is defined in Section 5.1. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Fixed Rate Fund” means a Measurement Fund, as may be selected by the Committee from time to time, that measures
investment performance by an annual interest equivalent factor established by the Committee from time to time. 

“401(k) Savings Plan” means the qualified 401(k) Savings Plan offered by the Company to employees meeting the proper
service requirements. 
 “Measurement Funds” means the funds, as selected by the Committee, to be used as a
performance measure when designated by a Participant for investment of amounts in the Participant’s Account in accordance with Article VI. 
 “Participant” means an executive who becomes eligible to participate in the Plan, and who elects to participate in the Plan, in accordance with Article 4. 

“Performance-Based Compensation” means compensation, the amount of which or entitlement to which, is contingent on the
satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months; provided that such performance criteria are established in writing not later than 90 days after the
commencement of the performance period to which the criteria relate and that the outcome is not substantially certain at the time the criteria are established. 

 “Plan” means the 2005 Dunkin’ Brands, Inc. Non-Qualified Deferred
Compensation Plan as set forth herein and in all subsequent amendments hereto. On and after October 1, 2010 ‘Plan’ means the Dunkin’ Brands, Inc. Non-Qualified Deferred Compensation Plan as set forth herein and in all subsequent
amendments hereto. 
 “Plan Year” means the calendar year. 

“Trust” means the trust fund established pursuant to the Plan under the Trust Agreement. 

“Trust Agreement” means the Trust Agreement dated as of May 17, 1999, as subsequently amended, or any successor
trust agreement, as in effect from time to time. 
 “Trustee” means the trustee named in the Trust Agreement
establishing the Trust and such successor and/or additional trustees, as may be named thereafter establishing the Trust. 
 ARTICLE 3.
ADMINISTRATION 

 3.1. Committee. The Plan shall be administered by the Committee. The Committee
is the Administrator of the Plan and shall have full discretionary authority to interpret the provisions of the Plan, determine the amount of various types of Deferral Compensation that may be deferred for the Plan Year, and decide all questions and
settle all disputes which may arise in connection with the Plan, including the power to determine the rights of Participants and Beneficiaries, and to remedy any ambiguities, inconsistencies, or omissions in the Plan. All interpretations, decisions
and determinations made by the Committee shall be binding on all persons concerned. No action of the Committee may reduce the amount of a Participant’s Account below the amount of such Account immediately before such action. No member of the
Committee who is a Participant in the Plan may vote or otherwise participate in any decision or act with respect to a matter relating solely to himself (or to his Beneficiaries). The Committee may adopt such rules of procedure and regulations as may
be necessary for the proper and efficient administration of the Plan. 
 3.2. Delegation by Committee. Except as
the Committee may otherwise provide by written resolution, the Committee expressly delegates its duties and responsibilities under Section 3.1 (except for the duty to establish eligibility criteria under Article 4) to the Vice President Human
Resources or such other person or persons as may be nominated by the Committee, who may further expressly delegate certain of such duties and responsibilities to other employees of the Company or outside persons or entities. For purposes of the
Plan, any action taken by any such delegate pursuant to such delegation shall be considered to have been taken by the Committee. 
 3.3. Uniformity of Discretionary Acts. Whenever in the administration or operation of the Plan discretionary acts by the Committee are required or permitted, such actions shall be
consistently and uniformly applied to all persons similarly situated, and no such actions shall be taken that shall discriminate in favor of any particular person or group of persons. 

3.4. Claims Review Procedure. 
 (a) The Committee (as Administrator) shall notify Participants and, where appropriate, Beneficiaries, of their right to claim benefits under the claims procedures, and may, if appropriate, make forms
available for filing of such claims, and shall provide the name of the person(s) with whom such claims should be filed. 
 (b)
The Committee shall establish procedures for action upon claims initially made and the communication of a decision to the claimant promptly and, in any event, not later than 60 days after the claim is received by the Committee, unless special
circumstances require an extension of time for processing the claim. If an extension is required, notice of the extension shall be furnished to the claimant prior to the end of the initial 60-day period, which notice shall indicate the reasons for
the extension and the expected decision date. The extension shall not exceed 60 days. The claim may be deemed by the claimant to have been denied for purposes of further review described below in the event a decision is not furnished to the claimant
within the period described in the three preceding sentences. 

 Every claim for benefits which is denied shall be denied by written notice setting forth in
a manner calculated to be understood by the claimant (i) the specific reason or reasons for the denial, (ii) specific reference to any provisions of the Plan on which denial is based, (iii) description of any additional material or
information necessary for the claimant to perfect his claim with an explanation of why such material or information is necessary, and (iv) an explanation of the procedure for further reviewing the denial of the claim under the Plan. 

(c) The Committee shall establish a procedure for review of claim denials, such review to be undertaken by the Committee. The review given
after denial of any claim shall be a full and fair review with the claimant (or his duly authorized representative) having 60 days after receipt of denial of his claim or after the date of the deemed denial, to request in writing to the Committee a
review of the denial notice. Upon such request for review, the claim shall be reviewed by the Committee (or its designated representative). In connection with such review, the Claimant has the right to review all pertinent documents and the right to
submit documents, records, issues, comments and other information in writing, all of which shall be taken into account regardless of whether it was submitted in the initial benefit determination. The claimant shall be provided upon request, and at
no charge, reasonable access to, and copies of, all documents, records and other information relevant to the claimant’s claim for benefits. 
 (d) The Committee shall establish a procedure for issuance of a decision by the Committee not later than 30 days after receipt of a request for review from a claimant unless special circumstances, such as
the need to hold a hearing, require a longer period of time, in which case a decision shall be rendered as soon as possible but not later than 60 days after receipt of the claimant’s request for review. The decision on review shall be in
writing and shall include specific reasons for the decision written in a manner calculated to be understood by the claimant with specific reference to any provisions of the Plan on which the decision is based. The written decision on review shall be
given to the claimant within the 30 day (or if applicable, the 60 days) time limit discussed above. If the decision on review is not communicated within the time periods described in the three preceding sentences, the claim shall be deemed to have
been denied upon review. All discussions on review shall be final and binding with respect to all concerned parties. 
 3.5.
Indemnification. The Company agrees to indemnify and to defend to the fullest possible extent permitted by law any member of the Committee and any Company employee delegatee (including any persons who formerly served as a member of the
Committee) against any and all liabilities, damages, costs and expenses (including attorneys’ fees and amounts paid in settlement of any claims approved by the Company) occasioned by any act or omission to act in connection with the Plan, if
such act or omission was made in good faith. 
 3.6. Benefit Funding. Except as herein provided, the Company shall
not be required to set aside or segregate any assets of any kind to meet its obligations hereunder. 
 To assist in meeting its
obligations under the Plan, the Company has caused the Trust to be established, of which the Company is treated as the owner under Subpart E of Subchapter J, Chapter I of the Internal Revenue Code of 1986, as amended, and may deposit funds with the

 
Trustee of the Trust. The Trust is a rabbi trust which allows its assets to be subject to the Company’s creditors in the event of dissolution or insolvency. 

Upon a Change of Control, the Company shall promptly appoint an independent discretionary Trustee (which may not be the Company or any
subsidiary or affiliate) for the Trust, and, if at the time of a Change of Control, the Trust has not been fully funded, the Company shall, within the time and manner specified under such Trust, deposit in such Trust amounts sufficient to satisfy
all obligations under the Plan as of the date of deposit. 
 In all events, the Company shall remain ultimately liable for the
benefits payable under this Plan, and to the extent the assets at the disposal of the Trustee are insufficient to enable the Trustee to satisfy all benefits, the Company shall pay all such benefits necessary to meet its obligations under this Plan.

 The obligations of the Company hereunder shall be binding upon its successors and assigns, whether by merger, consolidation
or acquisition of all or substantially all of its business or assets. 
 ARTICLE 4. SELECTION OF PARTICIPANTS 

The Committee shall select, or shall establish the applicable criteria for determining, the employees of the Company (or its subsidiaries
or affiliates) who are eligible to participate in the Plan. When an executive has been selected to participate in the Plan, he will be notified by the Committee in writing and given the opportunity to elect to defer compensation under the Plan. An
executive who makes such an election is hereinafter referred to as a “Participant.” The initial election to defer must be made within the first 30 days of participation in the Plan and may only apply to compensation earned after the
election. 
 ARTICLE 5. DEFERRAL OF COMPENSATION 
 5.1. Eligible Deferral Compensation. Prior to each Plan Year, the Committee shall establish if or to what extent base compensation or incentives under one or more incentive or other bonus
programs may be deferred under the Plan (“Eligible Deferral Compensation”). 
 5.2. Deferral Elections.
Prior to December 31st, a Participant may irrevocably elect, in accordance with this Article and Article 8, to defer receipt of all or part of his/her Eligible Deferral Compensation to be earned in the succeeding year; provided, however, that
unless the Committee consents, such deferred amount for the year may not be less than $5,000. Notwithstanding the foregoing, a Participant’s election to defer Performance-Based Compensation may be made no later than 6 months before the end of
the performance period to which the Performance-Based Compensation relates but in no event after such compensation has become readily ascertainable. A Participant’s election to defer his/her sign-on bonus must be made at the time the amount of
the award is determined under the applicable program or thirty days following his/her hire date and, as a condition to deferring the sign-on bonus, the Participant 

 
must be required to perform services for the Company for a period of at least 12 months from the date of the election to defer or receive the sign-on bonus. 

5.3. Annual Company Matching Amount. For each Plan Year, the Company, in its sole discretion, may, but is not required to,
credit Annual Company Matching Amounts to the account of any Participant. A Participant’s Annual Company Matching Amount for a Plan Year shall be equal to (a) a contribution of 5% of the amount of his/her Deferrals for the Plan Year that,
if not made, would have been taken into account as eligible compensation under the 401(k) Savings Plan, plus (b) the contributions that would have been made to the Cash Balance Plan on his/her behalf for the plan year of the Cash Balance Plan
that corresponds to the Plan Year if the Participant had made no Deferrals and had been credited the maximum contribution to the Cash Balance Plan for such plan year, reduced by the amount of any contributions that were actually made to the Cash
Balance Plan on his/her behalf for such plan year. If a Participant is not employed by the Company as of the last day of a Plan Year other than by reason of his or her retirement, disability or death, the Annual Company Matching Amount for such Plan
Year shall be zero. In the event that a Participant is not employed by the Company on the last day of the Plan Year by reason of retirement, disability or death, a Participant shall be credited with the Annual Company Matching Amount for the Plan
Year in which he/she retires, becomes disabled, or dies. 
 ARTICLE 6. INTEREST EQUIVALENT FACTOR & MEASUREMENT FUNDS

 6.1. Measurement Funds. The Participant may elect one or more of the
Measurement Funds selected by the Committee from time to time. As necessary, the Committee may, in its sole discretion discontinue, substitute, add or delete a Measurement Fund. Each such action will take effect as of the first day of the calendar
quarter that follows by thirty (30) days the day on which the Committee gives Participants advance written notice of such change. Notwithstanding the above, the platform provider may substitute measurement funds at any time as it deems
necessary and appropriate for growth or performance reasons. 
 6.2. Upon Change of Control. For the first 12
months after a Change of Control, the annual interest equivalent factor applied to a Fixed Rate Fund, if a Fixed Rate Fund is selected by the Committee prior to a Change of Control, shall not be less than the highest annual interest equivalent
factors applicable during the 24 months prior to the Change of Control. Further, for the first 12 months after a Change of Control, any Measurement Funds in existence prior to a Change in Control shall continue to be made available. 

6.3. Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules and procedures that are
established from time to time by the Committee, in its sole discretion, amounts shall be credited or debited to a Participant’s Account in accordance with the following rules: 

(a) Election of Measurement Funds. A Participant, in connection with his or her initial deferral election in accordance with
Section 5.2 above, shall designate, on an Investment Designation Form, one or more Measurement Fund(s) to be used to determine the additional amounts to be credited or debited to his or her Account starting with the first day on which the
Participant commences participation in the Plan and continuing thereafter for each subsequent day that the Participant participates in the Plan, unless changed in accordance with the next sentence. On each day that the Participant participates in
the Plan, the Participant may (but is not required to) elect, by submitting an Investment Designation Form to the Committee that is accepted by the Committee, to add or delete one or more Measurement Fund(s) to be used to determine the additional
amounts to be credited to his or her Account Balance, or to change the portion of his or her Account Balance allocated to each previously or newly elected Measurement Fund. If an election is made in accordance with the previous sentence, it shall
apply to the next day and continue thereafter for each subsequent day in which the Participant participates in the Plan, unless changed in accordance with the previous sentence. 

(b) Proportionate Allocation. In making any investment designation described in Section 6.3(a) above, the Participant shall specify
on the Investment Designation Form, in increments of 1 percentage points (i.e., 1%), the percentage of his Account Balance to be allocated to a Measurement Fund (as if the Participant was making an investment in that Measurement Fund with that
portion of his or her Account Balance) 
 (c) Crediting or Debiting Method. The performance of each elected Measurement Fund
(either positive or negative) will be determined, by the Committee, in its sole discretion, based on the performance of the Measurement Funds themselves. A Participant’s Account 

 
balance shall be credited or debited on a daily basis based on the performance of each Measurement Fund designated by the Participant, as determined by the Committee in its sole discretion, as
though (a) his Account balance were invested in the Measurement Fund(s) designated by the Participant, in the percentages applicable to such calendar quarter, as of the close of business on the first business day of such calendar quarter, at
the closing price on such date; (b) the portion of the Annual Deferral Amount that was actually deferred during any calendar quarter were invested in the Measurement Fund(s) selected by the Participant, in the percentages applicable to such
calendar quarter, no later than the close of business on the third business day after the day on which such amounts are actually deferred from the Participant’s base annual salary through reductions in his or her payroll, at the closing price
on such date; (c) the Participant’s Annual Company Matching Amount were invested in the Measurement Fund(s) selected by the Participant, in the percentages applicable to such calendar quarter, as of the close of business on the first
business day of the Plan Year following the Plan Year to which it relates; and (d) any distribution made to a Participant that decreases such Participant’s Account Balance ceased being invested in the Measurement Fund(s), in the
percentages applicable to such calendar quarter, on the seventh business day prior to the requested distribution date, at the closing price on such date. 
 (d) If the Committee receives a Participant’s Investment Designation Form which it finds to be incomplete, unclear or improper, the Participant’s investment designation then in effect shall
remain in effect until the next calendar quarter unless the Committee provides for or permits the application of corrective action before that date. 
 (e) If the Committee does not receive an Investment Designation Form from the Participant at the time the initial deferral amounts are credited into the Participant’s Account or if the Committee
possesses at any time designations as to the investment of less than all of a Participant’s Account balance, the Participant shall be considered to have designated that the undesignated portion of the Account be deemed to be invested in the
investment option selected by the Committee from time to time, and the Committee shall not be liable for the investment option(s) it selects. 
 (f) No Actual Investment. Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the Measurement Funds are to be used for measurement purposes only, and a
Participant’s designation of any such Measurement Fund, the allocation to his or her Account balance thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a Participant’s Account shall not be
considered or construed in any manner as an actual investment of his or her Account in any such Measurement Fund. In the event that the Company or the Trustee (as that term is defined in the Trust), in its own discretion, decides to invest funds in
any or all of the Measurement Funds, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a Participant’s Account Balance shall at all times be a recordkeeping entry only and shall not
represent any investment made on his or her behalf by the Company or the Trust. The Participant shall at all times remain an unsecured creditor of the Company. No provision in the Plan shall be interpreted so as to give any Participant or
Beneficiary any right in any of assets of the Company or the Trust which right it greater than the rights of any general unsecured creditor of the Employer. 

 ARTICLE 7. PARTICIPANT ACCOUNTS 

7.1. Establishment of Accounts. The Committee shall establish a separate Account for each Participant reflecting the amounts
due the Participant under the Plan and shall cause the Company to establish on its books Accounts reflecting the Company’s obligation to pay Participants the amounts due under the Plan. 

7.2. Adjustments to Accounts. From time to time, the Committee shall adjust each Participant’s Account to credit
amounts (i) the Participant has elected to defer under Article 5; (ii) the Annual Company Matching Amounts the Company has contributed under Article 5; and (iii) amounts based on the annual interest equivalent factors for a Fixed Rate
Fund, if a Fixed Rate Fund is selected by the Committee and elected by the Participant, and / or gains or losses based on the applicable allocations in the other Measurement Funds, determined under Article 6. A Participant’s Account shall also
be adjusted to reflect benefit payments and withdrawals under Article 8. A Participant’s Account shall continue to be adjusted under this Article 7 until the entire amount credited to the Account has been paid to the Participant or his/her
Beneficiary. 
 ARTICLE 8. DISTRIBUTION OF ACCOUNT BENEFITS 
 The Participant’s Account benefits may not be distributed earlier than: (i) a separation from service; (ii) disability; (iii) unforeseen financial emergency; (iv) a Change in
Control; or (v) a specified date as elected by the Participant under the terms of the Plan. The manner and form of payment of the Account benefits with respect to each event is described below. 

8.1 Following Separation from Service 
 (a) Forms of Distribution. Subject to Sections 8.1(b), (c), (d) and (e), a Participant may elect in writing the manner in which his/her entire Account (other than amounts distributed prior to
separation from service in accordance with the provisions of Sections 8.2, 8.3, or 8.4) is to be distributed, from among the following options: 
  

	 	(i)	A lump sum within 90 days after the Participant’s separation from service; 

 

	 	(ii)	 A lump sum within 90 days after the later of (1) the Participant’s separation from service or (2) a specified date which date is not
later than the Participant’s 65th birthday;

  

	 	(iii)	In up to 15 annual installments, commencing within 90 days after the Participant’s separation from service; or 

 

	 	(iv)	 In up to 15 annual installments, commencing within 90 days after the later of (1) the Participant’s separation from service or (2) a
specified date which date is not later than the Participant’s 65th birthday. 

 (b) Timing of Distribution Election. A distribution
election under Section 8.1(a) must be submitted to the Committee at the time a Participant makes an initial election to defer. Notwithstanding the foregoing, a Participant who has elected to receive payment at a time and in a form described in
Section 8.1(a) may file a changed election with the Committee; provided, however, that: (i) the election is filed with the Committee at least 12 months before the 

 
initial distribution date (i.e. , the date the lump sum or the first installment is supposed to be paid); (ii) the changed election does not take effect for 12 months after the date on which
the changed election was filed and (iii) the changed election provides that the initial distribution date (i.e., the date the lump sum or the first installment is supposed to be paid) is deferred at least five years from the date it was
otherwise scheduled. 
 (c) Termination Before Age 50. Notwithstanding Sections 8.1(a) and (b), if a Participant separates from
service before age 50, the Participant’s Account will be paid in a lump sum within 90 days after the Participant’s separation from service. 
 (d) Automatic Lump Sums. In the event a Participant’s Account is equal to or less than $10,000 as of the date of separation from service, the Participant’s Account shall be fully paid within 90
days after the Participant’s separation from service. 
 (e) Delay of Distribution to Specified Employees. Notwithstanding
any provision of the Plan to the contrary, if a Participant is a “specified employee,” as defined in Section 409A of the Code and IRS regulations issued thereunder, as of the Participant’s separation from service, then the
payment of any amounts payable under the Plan shall be postponed in compliance with Section 409A and IRS regulations issued thereunder (without any reduction in such payments ultimately paid or provided to the Participant) until the first
payroll date that occurs after the date that is six months following the Participant’s separation from service. Any such postponed payments will be paid in a lump sum to the Participant on the first payroll date that occurs after the date that
is six months following the Participant’s separation from service. If the Participant dies during the postponement period prior to the payment of the postponed amount, the amounts withheld under this Section 8.1(e) shall be paid pursuant
to Article 9. 
 8.2 In-Service Distribution at Specified Date as Elected by the Participant.
At the time of the initial or annual deferral election in accordance with Article 5, a Participant may elect to receive payment in a lump sum of a selected amount or percentage of the total amounts deferred pursuant to such election and interest
earnings credited thereto in accordance with Article 6 at a specified date (“Deferral Date”). Such election shall be effective only if the Participant is an employee of the Employer on the Deferral Date. Thus, if the Participant separates
from service prior to the Deferral Date, any amount subject to an election made pursuant to this Section 8.2 shall be paid in accordance with the election made by the Participant under Sections 8.1(a) or 8.1(b), if any. If the Participant has
not made any election under Section 8.1(a) or 8.1(b), or if the Participant’s separation from service occurs prior to his 50th birthday, any amount subject to an election made pursuant to this Section 8.2 shall be paid to the Participant in
a lump sum within 90 days following his separation from service. 
 Each In-Service Distribution elected shall be paid in the
month and Plan Year designated by the Participant that is at least three (3) Plan Years after the Plan Year in which the Annual Deferral Amount is actually deferred. By way of example, if a three year In-Service Distribution is elected for
Annual Deferral Amounts that are deferred in the Plan Year commencing January 1, 2005, the three year In-Service Distribution would become payable during the designated month commencing in 2009. 

 Participants may file a changed election with the Committee to further defer their
In-Service Distributions, provided that: (i) the election is filed with Committee at least 12 months before the initial distribution date; (ii) the changed distribution date is at least 5 years from the date the payment was to be made
under the initial election; and (iii) the changed election shall not take effect for 12 months after the date on which the changed election was filed. 
 8.3 Unforeseen Financial Emergency. If prior to separation from service a Participant suffers an unforeseeable emergency due to circumstances beyond his control, the Participant may receive
a distribution of all or any part of his Account if he has no other assets available to meet his financial hardship or the financial hardship cannot be relieved through reimbursement or compensation from insurance or otherwise. An unforeseeable
emergency is defined as a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent of the Participant, loss of the Participant’s property due to
casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. In no event shall the aggregate amount of the distribution exceed the amount determined by the Committee to
be reasonably necessary to alleviate the Participant’s financial hardship and the anticipated taxes thereon. 
 8.4
Disability. Notwithstanding Section 8.1. and 8.2, if prior to separation from service, a Participant becomes totally disabled, the Participant shall within 90 days thereafter receive a lump sum distribution of his Account. For
purposes of the Plan, a Participant is totally disabled when the employee is unable to engage in substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than 12 months. 
 8.5 Change of Control. If upon a Change of
Control, the Committee or Company determines to terminate and liquidate the Plan as permitted in Article 14, §14.2 distributions may be made in accordance with that section. 

8.6 Tax Withholding. To the extent required by applicable law, Federal, State, and other taxes shall be withheld from a
distribution. 
 8.7 Default Election. If a Participant has an Account hereunder but the Administrator, for any
reason whatsoever, does not have an election made by the Participant under Section 8.1 or 8.2 after reasonable due diligence to locate same, such Participant’s Account shall be paid to him in a lump sum within 90 days following his
separation from service. 
 8.8 Compliance with Section 409A. If the implementation of any of the foregoing
provisions of the Plan would subject the Participants to taxes or penalties under Section 409A of the Code, the implementation of such provision shall be modified to avoid such taxes and penalties to the maximum extent possible while preserving
to the maximum extent possible the benefits intended to be provided to Participants under the Plan.” 

 ARTICLE 9. BENEFICIARY BENEFITS 

A Participant, on a form approved by the Committee, may designate a Beneficiary, or change any prior designation, to receive the remaining
balance of his Account upon his death. A distribution election for payment of death benefits under Article 9 must be submitted to the Committee at the time the Participant makes the initial election to defer. Payments to a Beneficiary under this
Article 9 shall be made in a lump sum or, if the Participant so elects for his Beneficiary, in a series of up to 15 annual installment payments, commencing as soon as administratively feasible following the Participant’s death. 

Notwithstanding the preceding sentence, if a Participant dies after annual installments have commenced, the Beneficiary shall receive any
remaining installments in accordance with the Participant’s installment election. 
 Notwithstanding the preceding two
sentences, if a Beneficiary survives the Participant but dies before the Participant’s entire Account has been distributed, the remaining balance of the Participant’s Account shall be distributed in a lump sum to the Beneficiary’s
estate as soon as practicable following receipt of notice of the Beneficiary’s death. If no Beneficiary is designated (or if a designated Beneficiary does not survive the Participant), the Participant’s Account balance shall be paid to the
Participant’s estate in a lump sum as soon as practicable following receipt of notice of the Participant’s death. 
 ARTICLE 10.
ARTICLE 10. NATURE OF CLAIM FOR PAYMENTS 
 A Participant shall have no right on account of the Plan in or to any specific
assets of the Company or the Trust. Any right to any payment the Participant may have on account of the Plan shall be solely that of a general, unsecured creditor of the Company.” 
 ARTICLE 11. ASSIGNMENT OR ALIENATION 
 11.1. Prohibition on
Assignment. Except as provided in Section 11.2 or as otherwise required by law, the interest hereunder of any Participant or Beneficiary shall not be alienable by the Participant or Beneficiary by assignment or any other method and will
not be subject to be taken by his creditors by any process whatsoever, and any attempt to cause such interest to be so subjected shall not be recognized. 
 In the event that a Participant’s Account is garnished or attached by order of any Court, the Company may bring an action for a declaratory judgment in a court of competent jurisdiction to determine
the proper recipient of the benefits to be paid under the Plan. During the pendency of said action, any benefits that become payable shall be held as credits to the Participant’s Account or, if the Company prefers, paid into the court to be
distributable to the proper recipient. 
 11.2. Domestic Relations Orders 

(a) Notwithstanding anything to the contrary in Article 9, if the Committee receives a Qualified Domestic Relations Order as described in
Section 11.2(b) prior to the Participant’s 

 
Account balance being distributed, all or portion of the Participant’s Account balance under the Plan may be paid to the person as specified in such order. 

(b) A “Qualified Domestic Relations Order” means a judgment, decree, or order (including the approval of a settlement agreement)
which: 
  

	 	(i)	is issued pursuant to a State’s domestic relations law; 

  

	 	(ii)	relates to the provision of child support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent of the Participant;

  

	 	(iii)	creates or recognizes the right of a spouse, former spouse, child or other dependent of the Participant to receive all or a portion of the Participant’s benefits
under the Plan; 

  

	 	(iv)	clearly specifies the name of the Plan to which such order applies and the name and the last known mailing address of the Participant and each alternate payee covered
by the order; 

  

	 	(v)	clearly specifies the amount or percentage of the Participant’s benefits to be paid by the Plan to each such alternate payee, or the manner in which such amount or
percentage is to be determined; 

  

	 	(vi)	does not require the payment of benefits to an alternate payee which are required to be paid to another alternate payee under another order previously determined to be
a Qualified Domestic Relations order; and 

  

	 	(vii)	meets such other requirements as established by the Committee. 

 (c) The Committee shall determine whether any order received by it is a Qualified Domestic Relations Order within the meaning of Article 11, §11.2. In making this determination, the Committee may
consider (but is not required to): 
  

	 	(i)	the rules applicable to “domestic relations orders” under section 414(p) of the Internal Revenue Code of 1986 and section 206(d) of ERISA;

  

	 	(ii)	the procedures used under the 401(k) Savings Plan to determine the qualified status of domestic relations orders; and 

 

	 	(iii)	such other rules and procedures as it deems relevant. 

 ARTICLE 12. NO CONTRACT OF EMPLOYMENT 
 The Plan shall not be deemed to
constitute a contract of employment between the Company and any Participant, or to be consideration for the employment of any Participant. Nothing contained herein shall give any Participant the right to be retained in the employment of the Company
or affect the right of the Company to terminate any Participant’s employment. 
 ARTICLE 13. AMENDMENT OR TERMINATION OF PLAN

 13.1. Right to Amend. The Plan may be altered or amended in writing by the
Committee or the Company, in any manner and at any time and all parties hereto or claiming any interest hereunder shall be bound by such amendment. However, no such alteration or amendment shall reduce the amount of a Participant’s Account or
his or her rights to such Account as determined under the provisions of the Plan in effect immediately prior to such alteration or amendment 
 13.2. Amendment Required By Law. Notwithstanding the provisions of Section 13.1, the Committee or the Company may amend the Plan any time, retroactively if required, if found necessary
in the opinion of legal counsel to the Committee or the Company to ensure that: (i) the Plan is characterized as a non-tax-qualified plan of deferred compensation under §409A of the Code; (ii) the Participants do not incur tax
penalties under §409A; (iii) the Trust is characterized as a grantor trust as described in Code §§671-679 and a rabbi trust as described in Rev. Proc. 92- 64; and (iv) the Plan and the Trust conform to the provisions and
requirements of any other applicable law. 
 ARTICLE 14. TERMINATION 

14.1. Right to Terminate Future Accruals. The Committee and Company reserve the right, at any time, to terminate future
accruals under the Plan; provided, however, that no such termination shall deprive any Participant or Beneficiary of a right accrued hereunder prior to the date of termination. 

14.2. Termination and Liquidation of the Plan. The Committee and Company reserve the right to terminate and liquidate the
Plan through the payment of all benefits hereunder in the circumstances permitted under IRS regulations issued under Section 409A and any such other circumstances specified in guidance of general applicability issued by the Internal Revenue
Commissioner. 
 ARTICLE 15. MISCELLANEOUS 

 15.1. Entire Agreement. This plan document for the Plan contains the entire
agreement between the Company and the Participants regarding the Plan and there are no promises or understandings of any kind regarding the Plan other than those stated herein. 

15.2. Payment for the Benefit of an Incapacitated Individual. If the Committee of the 401(k) Savings Plan determines that
payments due to a Participant under the 401(k) Savings Plan must be paid to another individual because of a Participant’s incapacitation, benefits under the Plan will be paid to that same individual designated for that purpose under the
applicable provisions of the 401(k) Savings Plan. 
 15.3. Governing Law. The Plan will be construed,
administered, and governed under the laws of the Commonwealth of Massachusetts, to the extent not preempted by federal law. 

15.4. Severability. If any provision of this Plan is held by a court of competent jurisdiction to be invalid or
unenforceable, the remaining provisions shall continue to be fully effective. 
 15.5. Headings and Subheadings.
Headings and subheadings are inserted for convenience only and are not to be considered in the construction of the provisions of the Plan. 
 [Signature page follows] 

 IN WITNESS WHEREOF, this Plan, as amended and restated hereunder, is adopted by the
Committee or the Company on January 1, 2009, and is executed by a duly authorized officer of Dunkin’ Brands, Inc. as of the date indicated below. 

 

			
	 DUNKIN’ BRANDS, INC.
 130 Royall Street
 Canton, MA 02021

	
	  

		
	By:	 	/s/ Paul Leech
	Title:	 	C.A.O
	Date:	 	12/9/08

  

			
		
	By:	 	/s/ Kate Lavelle
	Title:	 	CFO
	Date:	 	12/9/08

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]