Document:

Executive Employment -Thomas J. Pennison, Jr.

 Exhibit 10.9 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement (this
“Agreement”) is made as of the 17th day of October, 2011 (the “Effective Date”) between Thomas J. Pennison, Jr. (“Executive”), an individual, and Center Cut Hospitality, Inc., a Delaware corporation
(the “Company”). Capitalized terms used herein shall have the meanings given to them in Section 5 below. 

In consideration of the mutual promises expressed herein, Executive and the Company have agreed as follows: 

1. EMPLOYMENT. 
 (a) Effective Date and Term. This Agreement shall be effective as of the Effective Date and will continue indefinitely thereafter unless Executive’s employment terminates earlier in accordance
with Section 3. 
 (b) Duties. Executive shall be employed as chief financial officer or such other comparable
position to which Executive and the Company may agree. Executive agrees to devote Executive’s full time and best efforts to the performance of the duties attendant to Executive’s executive position with the Company. The duties of
Executive’s position with the Company shall be in accordance with industry standards and shall be set forth in a job description. Unless otherwise agreed to by Executive, Executive shall report directly to the chief executive officer.

 2. COMPENSATION AND BENEFITS. 

(a) Annual Salary. Executive’s salary shall be $250,000 per year, less applicable taxes and withholdings, to be paid in
accordance with the Company’s regular payroll practices for similarly situated executives; provided, however, Executive’s salary shall be reviewed annually in the first quarter and may be increased by the Company’s Board of Directors
(the “Board”) or its designee, in its sole discretion. 
 (b) Annual Incentive Bonus. Executive shall be
entitled to participate in all bonus compensation plans that the Company may offer, in accordance with the terms of any such plans. The target for Executive’s annual bonus shall be at least fifty percent (50%) of Executive annual salary.
Executive’s entitlement to an annual incentive bonus under this subparagraph 2(b), and the amount of such bonus shall be determined by the Company in its good faith discretion; provided, however, if the terms of a written annual incentive bonus
plan do not include provisions regarding the time of payment for an annual incentive bonus, payment of any such bonus shall occur before March 15th of the calendar year following the calendar year to which the bonus relates. 

 
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 (c) Benefits. 

 

	 	(i)	Standard Employee Benefits. Executive shall be eligible for all employee benefits extended, from time to time, to all full-time employees of the Company, subject
to the terms and conditions of the Company’s policies and employee benefit plans, as those policies and plans are amended or terminated. The Company shall pay 100% of the medical insurance premium for the medical insurance coverage elected by
Executive under the Company’s ERISA medical plan. 

  

	 	(ii)	Executive Benefits. Executive shall also be entitled to participate in all benefit programs that are maintained by the Company and available to its executive
officers generally (including, but not limited to, any and all deferred compensation plans, equity compensation plans, and the Transaction Bonus Agreement). Executive acknowledges that Executive shall have no vested rights under or in respect to
Executive’s participation in any such program except as expressly provided under the terms thereof. 

  

	 	(iii)	Business Expenses. Executive shall be authorized to incur reasonable expenses for promoting the business of the Company, including expenses for entertainment,
travel, and similar items. The Company shall reimburse Executive for all such expenses upon the presentation by Executive, from time to time, of an itemized account of such expenditures. 

 

	 	(iv)	Vacations. Executive shall be entitled to the greater of (x) annual paid vacation commensurate with the Company’s established vacation policy for
executive officers or (y) four (4) weeks of annual paid vacation that shall otherwise be subject to the Company’s established vacation policy for executive officers. The timing of paid vacations shall be scheduled in a reasonable
manner by Executive. 

  

	 	(v)	Relocation Allowance. Executive shall be eligible to receive reimbursement for up to $50,000 of reasonable relocation and temporary living expenses incurred
within the first twelve months of Executive’s employment under this Agreement (including any expenses incurred in locating Executive’s new personal residence), the reasonableness of such expenses to be determined by the Company in its sole
good faith discretion. Any expenses eligible for reimbursement under this Section 2(c)(v) must be incurred and accounted for in accordance with the policies and procedures established by the Company. Any such reimbursement of expenses
shall be made by the Company upon or as soon as practicable following receipt of supporting documentation reasonably satisfactory to the Company (but in no event later than the earlier to occur of (1) 30 days after such expense is incurred, or
(2) October 15, 2012). 

  

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 3. TERMINATION AND SEVERANCE. 

(a) Executive’s employment may be terminated in accordance with the following provisions: 

 

	 	(i)	Death. Executive’s employment shall terminate upon Executive’s death. 

 

	 	(ii)	 Disability. If Executive incurs a Disability, the Company may give the Executive written notice of its intention to terminate Executive’s
employment; provided that such written notice may only be given after the expiration of the time period required under the definition of Disability below. In that event, Executive’s employment with the Company shall terminate effective on the
later of (x) the fifteenth (15th) day after
receipt of such notice by Executive or (y) the date specified in such notice, provided that within the fifteen (15) days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties.

  

	 	(iii)	Termination by the Company without Cause. The Company may terminate Executive’s employment without Cause (as defined below) at any time upon written notice
to Executive. 

  

	 	(iv)	Termination by the Company for Cause. The Company may terminate Executive’s employment for Cause at any time upon written notice to Executive, and such
written notice shall contain a statement noting the reason(s) for the Cause termination. To the extent required by Section 5(a), and if such failure(s) are curable, Executive shall be given an opportunity to cure the failure(s) noted in such
written notice as the reason(s) for the Cause termination. 

  

	 	(v)	Termination by Executive for Good Reason. Executive may terminate Executive’s employment for Good Reason (as defined below) upon thirty (30) days’
written notice to the Company; provided, however, that the Date of Termination (as defined below) due to Good Reason shall not automatically occur on the date set forth in Executive’s written notice to the Company, but will instead be
determined by the Company following the Company’s allowed “cure” period as described in Section 5(e) below. 

  

	 	(vi)	Voluntary Termination by Executive Not Involving Good Reason. Executive may terminate Executive’s employment voluntarily for any reason other than a Good
Reason upon sixty (60) days’ written notice to the Company (such 60-day period is herein referred to as the “Notice Period”). During the Notice Period, Executive shall continue to be employed by the Company subject to
Section 1(b); provided, however, that (x) the Company shall have the right to shorten or eliminate the Notice Period in its good faith discretion and (y) if the Company shortens or eliminates the Notice Period, such action by the
Company shall constitute neither (1) a termination of Executive’s employment by 

  
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Executive pursuant to Section 3(a)(v) nor (2) a termination of Executive’s employment by the Company pursuant to Section 3(a)(ii), Section 3(a)(iii), or
Section 3(a)(iv). In the event that the Company shortens or eliminates the Notice Period, the Company shall pay Executive’s salary for the entire Notice Period and shall also pay Executive the same bonuses and incentive payments that
Executive would have been paid if Executive had remained employed through the end of the Notice Period. 

 (b)
Severance Benefits.  
  

	 	(i)	Termination without Cause; Termination for Good Reason. If Executive’s employment terminates pursuant Section 3(a)(iii) or Section 3(a)(v), the
Company agrees to provide Executive, as severance benefits, the following: 

  

	 	(A)	Payment of Executive’s base monthly salary in effect at the time of Executive’s Date of Termination during the Severance Period (defined below); and

  

	 	(B)	Payment of Executive’s medical premiums during the Severance Period for the medical coverage that Executive had elected to receive under the Company’s ERISA
medical plan and that was in effect as of the Date of Termination, but only to the extent that Executive receives COBRA coverage during the Severance Period. 

“Severance Period” means the twelve (12) consecutive months immediately following the Date of
Termination; provided, however, (1) if Executive’s employment is terminated pursuant to Section 3(a)(iii) or Section 3(a)(v) at any time within the 365 day period following the Effective Date (but prior to a Change of Control),
then “Severance Period” means the six (6) consecutive months immediately following the Date of Termination and (2) if Executive’s employment is terminated pursuant to Section 3(a)(iii) or Section 3(a)(v) at any
time within the one-hundred eighty (180) day period following a Change of Control (irrespective of when such Change of Control occurs), then “Severance Period” means the eighteen (18) consecutive months immediately following the
Date of Termination. Unless delayed pursuant to Section 3(c), monthly severance payments pursuant to Section 3(b)(i)(A) will be paid to Executive in equal installments, beginning on the first pay date occurring after the 75th day following the Date of Termination. All of the severance benefits
pursuant to this Subsection (b)(i) are conditioned upon the Executive entering into a separation agreement and general release of all claims in favor of the Company and its affiliates (the “Release”), within the prescribed time
period set forth therein, and Executive’s non-revocation of the Release during the revocation period prescribed therein. The Company shall provide Executive with the Release within fourteen (14) business days after the Date of Termination.
Time is of the essence so that the prescribed time periods therein expire within the seventy-five (75) day period following the Date of Termination. 
  

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	 	(ii)	Termination due to Disability. If Executive’s employment with the Company terminates due to Disability, the Company shall pay Executive an amount equal to
fifty percent (50%) of Executive’s annual salary (in addition to any disability insurance benefits received pursuant to the Company’s employee benefit plans The amount paid pursuant to this Subsection (b)(ii) shall be paid
semi-monthly in twelve (12) equal installments. 

  

	 	(iii)	Termination for any other Reason. If Executive’s employment terminates pursuant to any provision of this Agreement other than pursuant to
Section 3(a)(ii), Section 3(a)(iii), Section 3(a)(v), or Section 3(a)(vi) of this Agreement, the Company has no obligation to pay Executive any severance or other termination benefits. 

(c) Timing; Form of Payments. All benefits provided to Executive pursuant to Section 3(b)(i) and (ii) (the
“Severance Benefits”) will be made in accordance with the regular payroll practices of the Company and will be subject to applicable federal and state income tax and employment tax withholdings and deductions and any other
applicable withholdings and deductions. Notwithstanding anything else herein, to the extent any of the Severance Benefits are treated as nonqualified deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), then (i) no such payment shall be made to Executive unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury
Regulation Section 1.409A-1(h) and any successor provision thereto), and (ii) if Executive is determined by the Company to be a “specified employee” for purposes of Code § 409A(a)(2)(B)(i) and the Company determines that
delayed commencement of any portion of the Severance Benefits is required in order to avoid a prohibited distribution under Code § 409A(a)(2)(B)(i), commencement of such portion of the Severance Benefits will be delayed for six (6) months
following Executive’s “separation from service” pursuant to Code § 409A. Delayed Severance Benefits (if any) shall be payable in a lump sum on the first business day following the expiration of such six (6) month period, and
any remaining Severance Benefits due shall be paid as otherwise provided in Section 3(b). Notwithstanding the foregoing, to the maximum extent permitted by applicable law, payment of the Severance Benefits shall be made in reliance upon
Treasury Regulation § 1.409A-1(b)(9) (with respect to separation pay plans) or Treasury Regulation § 1.409A-1(b)(4). The Severance Benefits shall be treated as a right to a series of separate payments. The provisions of this Agreement are
intended to comply with the applicable requirements of Code § 409A and shall be limited, construed, and interpreted in accordance with such intent. 
 (d) Consequences of Violation of Promises. Executive acknowledges and agrees that the Company’s obligation to provide and Executive’s entitlement to receive the Severance Benefits shall
cease immediately upon any violation by Executive of Executive’s obligations under Section 4 of this Agreement. Executive further agrees to repay the Company, on a pro rata basis, any Severance Benefits received during the period of
time in which Executive was in violation of Executive’s obligations under Section 4 of this Agreement, as determined by the 
  

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Company in its good faith discretion. In the event the Company determines Executive has a repayment obligation pursuant to this Section 3(d), the Company will send notice to Executive
identifying the reason(s) Executive’s repayment obligation has been triggered. 
 (e) Later Determined Cause.
Notwithstanding any other provision of this Agreement, if Executive’s employment with the Company is terminated such that Executive is entitled to severance from the Company and the Company determines within no later than one-hundred eighty
(180) days after the Date of Termination that Cause existed on, prior to, or after the Date of Termination, then Executive shall not be entitled to any Severance Benefits from the Company, and any and all Severance Benefits and reimbursements
from the Company to Executive shall cease. 
 4. EXECUTIVE’S COVENANTS

 (a) Confidential Information and Trade Secrets. Executive acknowledges that the Company has trade, business, and
financial secrets and other confidential and proprietary information regarding the Company and its business, in whatever form, tangible or intangible (collectively, the “Confidential Information”), and that, during the term of this
Agreement, Executive will receive Confidential Information. Executive acknowledges that the Confidential Information that Executive will receive during the term of this Agreement will be in addition to that which Executive has already received
during Executive’s employment with the Company. Executive further acknowledges and agrees that Executive’s use of Confidential Information in the conduct of business on behalf of a competitor of the Company would constitute unfair
competition with the Company and would adversely affect the business goodwill of the Company. Confidential Information includes, but is not limited to, sales materials, technical information, processes, compilations of information, records,
specifications, information concerning customers and prospective customers, customer and prospective customer lists, and information regarding methods of doing business. As defined herein, Confidential Information shall not include information that
is: (i) obtained by Executive from a source other than the Company or its affiliates, which source is not under a duty of non-disclosure in regard to such information; or (ii) becomes generally available to the public other than through
disclosure by Executive in violation of the provisions of this Agreement. For purposes of clarity, the parties understand and agree that Confidential Information also does not include general know-how and/or general processes, systems, and
procedures (such as general sales processes and best practices) that Executive has gained or gains by virtue of his experience working for the Company and/or within the “white-tablecloth restaurant” and/or “fine dining
establishment” industries. 
 Executive is aware of those policies implemented by the Company to keep its Confidential
Information secret, including those policies limiting the disclosure of information on a need-to-know basis and requiring the keeping of information in secure areas. Executive acknowledges that the Confidential Information has been developed or
acquired by the Company through the expenditure of substantial time, effort, and money and provides the Company with an advantage over competitors who do not know or use such Confidential Information. 

 
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 During and following Executive’s employment by the Company, Executive shall hold in
confidence and not directly or indirectly disclose, use (for Executive’s commercial advantage or otherwise), copy, make lists of, or make available to others any Confidential Information except in Executive’s good faith performance of
Executive’s duties to the Company as an executive of the Company or to the extent authorized in writing by the Board or required by law or compelled by legal process. Executive agrees to use reasonable efforts to give the Company notice of any
and all attempts to compel disclosure of any Confidential Information, in such a manner so as to provide the Company with written notice at least five (5) days before disclosure or within three (3) business days after Executive is informed
that such disclosure is being or shall be compelled, whichever is earlier. Such written notice shall include a description of the information to be disclosed, the court, government agency, or other forum through which the disclosure is sought, and
the date by which the information is to be disclosed, and shall contain a copy of the subpoena, order, or other process used to compel disclosure. 
 Executive further agrees not to use any Confidential Information for the benefit of any person or entity other than the Company, its subsidiaries and affiliates, and any Protected Company. 

Executive agrees that all Confidential Information and other files, documents, materials, records, notebooks, customer lists, business
proposals, contracts, agreements, and other repositories containing information concerning the Company or the business of the Company, in whatever form, tangible or intangible (including all copies thereof), that Executive shall prepare, use, or be
provided with as a result of Executive’s employment with the Company, shall be and remain the sole property of the Company. Upon termination of Executive’s employment hereunder, Executive agrees that all Confidential Information and other
files, documents, materials, records, notebooks, customer lists, business proposals, contracts, agreements, and other repositories containing information concerning the Company or the business of the Company (including all copies thereof) in
Executive’s possession, custody, or control, whether prepared by Executive or others, shall remain with or be returned to the Company promptly (within 48 hours) after the Date of Termination. 

Notwithstanding anything herein to the contrary, Executive may disclose to Executive’s spouse and any personal tax or financial
advisor the United States Federal income tax treatment and tax structure of the transactions contemplated in this Agreement and all materials of any kind (including opinions and other tax analyses) that are provided to Executive relating to such tax
treatment and tax structure. For this purpose, “tax structure” is limited to facts relevant to the United States Federal income tax treatment of the transactions contemplated in this Agreement and does not include information relating to
the identity of the parties hereto. 
 (b) Non-Competition. Executive acknowledges and agrees that the nature of the
Confidential Information that the Company commits to provide to Executive during Executive’s employment by the Company would make it unlikely that Executive would be able to perform in a similar capacity for a Competing Business (as defined
below) without disclosing or utilizing the Confidential Information. Executive further acknowledges and agrees that the Company’s business is conducted in a highly competitive market. Accordingly, Executive agrees that during the
Non-Competition Period (as defined below), Executive will not (other than for the benefit of the Company, its subsidiaries and affiliates, and any Protected Company pursuant to this Agreement) directly or indirectly, individually or as an officer,
director, employee, shareholder, consultant, contractor, partner, joint venturer, agent, equity owner, or in any capacity 
  

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whatsoever, (i) regardless of the reason for termination, work for, engage in, or operate any restaurant business or restaurant operating or management company that (x) features the
sale of steak where the sale of steak exceeds thirty percent (30%) of the restaurant’s revenues from food sales and (y) which is, or owns or operates restaurants, located within thirty (30) miles of any Del Frisco’s Double
Eagle Steak House restaurant, any Del Frisco’s Grill restaurant, or any Sullivan’s Steakhouse restaurant (a “Competing Business”), or (ii) (x) hire, attempt to hire, contact with respect to hiring, or solicit
with respect to hiring any employee of any Protected Company; (y) solicit, divert, or take away any customers or customer leads of any Protected Company with whom Executive had, whether directly or indirectly, contact or business relations
during the period of time that Executive was employed by the Company or its predecessors-in-interest or its affiliates (herein, the “Employment Period”) or about whom Executive possesses Confidential Information; or
(z) solicit, encourage, or influence any suppliers or vendors of any Protected Company to cease doing business with any Protected Company or change the terms and conditions upon which they conduct their business with any Protected Company where
Executive had, whether directly or indirectly, contact during the Employment Period or business relations during the Employment Period with such vendors or suppliers, or about whom Executive possesses Confidential Information. 

For purposes of this Section, “Non-Competition Term” means the Employment Period and, (a) if Severance Benefits are
not owed under Section 3(b)(i), a period of eighteen (18) consecutive months immediately following the Date of Termination and, (b) if Severance Benefits are owed under Section 3(b)(i), the 6-month, 12-month or 18-month
period that is the Executive’s Severance Period. 
 If any court determines that any portion of this Section 4(b) is
invalid or unenforceable, the remainder of this Section 4(b) shall not thereby be affected and shall be given full effect without regard to the invalid provisions. If any court construes any of the provisions of this Section 4(b), or any
part thereof, to be unreasonable because of the duration or scope of such provision, such court shall have the power to reduce the duration or scope of such provision and to enforce such provision as so reduced. 

(c) Irreparable Harm. Executive acknowledges that Executive’s violation of the provisions of Section 4(a) or
Section 4(b) of this Agreement will cause irreparable harm to the Company, and Executive agrees that the Company shall be entitled as a matter of right to an injunction restraining any violation or further violation of such provisions by
Executive or others acting on Executive’s behalf, without any showing of irreparable harm and without any showing that the Company does not have an adequate remedy at law. Executive further covenants and warrants that Executive will not dispute
in any proceeding that any given violation or further violation of the covenants contained in Section 4(a) or Section 4(b): (i) will result in irreparable harm to the Company; or (ii) could not be remedied adequately at law. The
Company’s right to injunctive relief shall be cumulative and in addition to any other remedies provided by law or equity. 

(d) Reasonableness of Restrictions. Executive understands and acknowledges that the Company has made substantial investments to
develop its Confidential Information, goodwill, and other legitimate business interests. Executive agrees that such investments are worthy of protection, and that the Company’s need for the protection afforded by Section 4(b) is

  
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greater than any hardship Executive might experience by complying with its terms. Executive agrees that the limitations as to time, geographic area, and scope of activity to be restrained
contained in this Agreement are reasonable and are not greater than necessary to protect the Confidential Information, goodwill, and other legitimate interests of the Company. Executive specifically agrees that, given the senior executive nature of
Executive’s position and national operations of the Company, any restriction other than on the basis specified in Section 4(b) would be inadequate to protect the company’s Confidential Information. Executive further agrees that the
restrictions contained in Section 4(b) allow Executive an adequate number and variety of employment alternatives, based on Executive’s varied skills and abilities. Accordingly, Executive covenants and warrants that Executive will not
dispute in any proceeding that: (i) the restraints contained in Section 4(b) are reasonable and not greater than necessary to protect proprietary information and/or the goodwill or other business interests of the Company; or (ii) the
scope of the restraints contained in Section 4(b) should be reformed so as to make them enforceable, if it is judicially determined that they are unenforceable as drafted. 

5. Definitions. 

(a) Cause. “Cause” shall mean any or all of the following: 

 

	 	(i)	Failure by Executive to substantially perform material duties hereunder or to devote Executive’s full time and effort to Executive’s position with the
Company, other than any failure resulting from death, illness or injury, or Disability, which, to the extent such failure is curable, Executive does not cure within a period of thirty (30) days after written notice of such failure is provided
to Executive by the Company; 

  

	 	(ii)	Failure by Executive to comply materially with the policies of the Company, which, to the extent such failure is curable, Executive does not cure within a period of
thirty (30) days after written notice of such failure is provided to Executive by the Company; 

  

	 	(iii)	Commission by Executive of any material illegal act or any act that is not in the ordinary course of Executive’s responsibilities that exposes the Company to a
significant level of undue liability; provided, however, a violation due to use by the Company of the Executive’s liquor license shall not constitute Cause; 

 

	 	(iv)	Executive’s conviction of or plea of guilty or nolo contendere to any felony; or 

 

	 	(v)	Any breach of Executive’s obligations under Section 4 of this Agreement. 

(b) Change of Control. “Change of Control” shall mean either (i) the closing of a Qualified Public Offering
(as defined in the Transaction Bonus Agreement) or (ii) the closing of a Sale (as defined in the Transaction Bonus Agreement). 
  

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 (c) Date of Termination. “Date of Termination” shall mean the date
on which the Executive’s termination of employment with the Company occurs; provided, however, to the extent that Executive is receiving compensation due to such termination of employment and such compensation is subject to Code § 409A,
“Date of Termination” shall mean the date of Executive’s “separation from service” (within the meaning of Treasury Regulation § 1.409A-1(h)). 
 (d) Disability. “Disability” shall mean shall mean Executive’s inability to perform, with or without reasonable accommodation, the essential functions of Executive’s
position hereunder for a total of three (3) months during any six (6) month period as a result of incapacity due to mental or physical illness as determined by a physician selected by the Company or its insurers and acceptable to Executive
or Executive’s legal representative, such agreement as to acceptability not to be unreasonably withheld or delayed. 
 (e)
Good Reason. “Good Reason” shall mean that any of the following events occurs without Executive’s consent: 
  

	 	(i)	The Company requires Executive to be based from a location that is outside of a fifty (50) mile radius of the Company office where the Executive is based as of the
Effective Date; 

  

	 	(ii)	The Company materially decreases Executive’s annual salary (other than a general reduction in base salary that affects all salaried employees of the Company
proportionately, which reduction shall not be more than ten percent (10%) of Executive’s annual salary) 

  

	 	(iii)	A material breach by the Company of this Agreement; or 

  

	 	(iv)	A material diminution caused by the Company in the title and/or duties, responsibilities, or authority of Executive. 

Provided, however, for all of the events described in clauses (i), (ii), (iii), and (iv) immediately above, Good Reason will not exist
(x) unless Executive has provided the Company with written notice of the circumstances that Executive believes constitute Good Reason within thirty (30) days after Executive knows, or through reasonable diligence, should know of such
events and circumstances and (y) the Company has failed to cure within thirty (30) days of such notice. Failure to present the circumstances that Executive believes constitutes Good Reason within thirty (30) days of the
Employee’s first knowledge of such circumstances waives any right by Executive to assert that Executive has Good Reason for termination and constitutes acceptance by Executive as new terms of Executive’s employment. Resignation by the
Executive following the Company’s cure of identified circumstances or before the expiration of the 30-day “cure” period referred to above shall constitute a voluntary termination under Section 3(a)(vi). In the event the Company
does not cure the identified circumstances on or before the expiration of the 30-day “cure” period referred to above, then Executive must terminate employment for Good Reason within fifteen (15) days of the end of such cure period, or
any later termination of employment by Executive will not constitute Good Reason based upon the same previously identified circumstances. Notwithstanding anything else herein, the Company and Executive may agree, in writing, to extend the 15-day
period during which the Executive must terminate employment for Good Reason. 
  
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 (f) Protected Company. “Protected Company” shall mean, individually,
each of Del Frisco’s Restaurant Group, LLC (together with its successors and assigns, “DFRG”) and all subsidiaries of DFRG (together with each successor and assign of such subsidiaries). 

(g) Transaction Bonus Agreement. “Transaction Bonus Agreement” shall mean that certain letter agreement between
Executive and LSF5 Wagon Holdings, LLC dated October 17, 2011, as from time to time amended, supplemented, restated, or otherwise modified, which provides Executive with the opportunity to earn additional compensation in connection with the
sale or public offering of Del Frisco’s Restaurant Group, LLC and its subsidiaries, successors, and assigns. 
 6.
Arbitration; Waiver of Right to Jury Trial. 
 (a) In the event any claim, demand, cause of action, dispute, controversy,
or other matter in question (in this Section 6, a “Claim”) arises out of this Agreement (or its termination) or the Transaction Bonus Agreement, whether arising in contract, tort, or otherwise and whether provided by statute,
equity, or common law, that the Company may have against Executive or that Executive may have against the Company, or any of the Company’s subsidiaries or affiliates, or any of the foregoing entities’ respective officers, directors,
employees, or agents in their capacity as such or otherwise, all such Claims shall be submitted to binding arbitration. Any arbitration shall be conducted in accordance with the Federal Arbitration Act (“FAA”) and, to the extent an
issue is not addressed by the FAA or the FAA does not apply, with the then-current National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA”). The arbitrator shall apply the substantive
law of Texas (excluding Texas choice-of-law principles that might call for the application of some other state’s law) or federal law, or both as applicable to the Claims asserted. The arbitrator shall have exclusive authority to resolve any
dispute relating to the interpretation, applicability, or enforceability of this Section 6(a), including any Claim that all or part of this Agreement is void or voidable and any Claim that an issue is not subject to arbitration. The results of
arbitration will be binding and conclusive on the parties hereto and judgment upon the award resulting from arbitration may be entered in any court of competent jurisdiction. Venue for arbitration, and for any disputes relating to the enforceability
of this Section 6(a) will be in Dallas County, Texas. All proceedings conducted pursuant to this Section 6(a), including any order decision or award of the arbitrator, shall be kept confidential by all parties. Where permitted by law, the
Company and Executive shall equally share the costs and expenses of the arbitration that are actually incurred by the parties, excluding attorney’s fees and expenses and expert witness fees, which shall remain the sole responsibility of each
party, respectively. 
 (b) Notwithstanding any of the foregoing or any other provision of this Agreement, Executive and the
Company may petition a court for an injunction to maintain the status quo pending resolution of any Claim under Section 6(a), and Section 6(a) shall not require the arbitration of an application for emergency or temporary injunctive relief
by either party pending arbitration; provided, however, that the remainder of any such dispute beyond the application for emergency or temporary injunctive relief shall be subject to arbitration under Section 6(a). 

 
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 (c) Executive and the Company agree that, in the event that the arbitration provision set
forth in Section 6(a) is unenforceable, that all Claims shall be decided by trial before the court and not by a jury trial. The venue for any such trial shall be Dallas County, Texas. 

(d) Executive acknowledges that by signing this Agreement, Executive is waiving any right that Executive may have to a jury trial in
connection with, or relating to, a Claim. 
 7. MISCELLANEOUS. 

(a) Entire Agreement. This Agreement embodies the entire agreement between the parties with respect to the subject matter hereof
and supersedes all prior agreements and understandings, if any, between the parties regarding the subject matter hereof. 
 (b)
Modification, Severability, and Waiver. Both parties agree that neither has the authority to modify or amend this Agreement unless the modification or amendment is in writing and signed by both of them. If any provision of this Agreement is
declared or found to be illegal, unenforceable, or void, the remainder of this Agreement shall remain valid and enforceable to the extent feasible. Any waiver of any term of this Agreement by the Company shall not operate as a waiver of any other
term of this Agreement, nor shall any failure to enforce any provision of this Agreement operate as a waiver of the right of the Company to enforce any other provision of this Agreement. 

(c) Notice to the Company. Notice to the Company shall have occurred and be effective when a written notice is delivered via
certified mail to the then-current address of the Company’s principal office and to the attention of the Chief Executive Officer of the Company. 
 (d) Withholding. The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or
regulation. 
 (e) Survival and Construction. Executive’s obligations under this Agreement will be binding upon
Executive’s heirs, executors, assigns, and administrators and will inure to the benefit of the Company, its subsidiaries, successors, and assigns. The Company’s obligations under this Agreement will be binding upon the Company’s
successors assigns and will inure to the benefit of the Executive and Executive’s heirs, executors, and administrators. The language of this Agreement shall in all cases be construed as a whole according to its fair meaning, and not strictly
for or against any of the parties. The paragraph headings used in this Agreement are intended solely for convenience of reference and shall not in any manner amplify, limit, modify, or otherwise be used in the interpretation of any of the provisions
hereof. Executive may not assign, pledge, grant a security interest in, hypothecate, or otherwise transfer any of its rights, duties, or obligations hereunder. 
 (f) No Mitigation. Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount
of any payment provided for under this Agreement be reduced by any compensation earned by Executive as the result of employment by another employer after Executive’s Date of Termination. 
  
 EMPLOYMENT AGREEMENT 

  

PAGE 12 

 (g) Other Contractual Rights. Except as otherwise expressly provided herein, the
provisions of this Agreement, and any payment provided for hereunder, shall not reduce any amount otherwise payable, or in any way diminish Executive’s existing rights, or right which would accrue solely as a result of passage of time under any
employee benefit plan or other contract, plan, or arrangement of which Executive is a beneficiary or in which Executive participates. 
 (h) Indemnification. The Company covenants and agrees to indemnify, defend and hold Executive harmless from any and all losses, claims, costs, liabilities, penalties, fines, damages, and expenses
(including legal fees) suffered or incurred by Executive, either directly or indirectly, as a result of any asserted or alleged claim made against Executive by a third party in connection with Executive’s employment with Company, excepting only
such claims arising solely out of Executive’s willful misconduct. 
 [signature page follows] 

 
 EMPLOYMENT AGREEMENT 

  

PAGE 13 

 IN WITNESS WHEREOF, Executive and the Company
have executed this Agreement as of the Effective Date. 
  

									
	CENTER CUT HOSPITALITY, INC.	 		 		 	EXECUTIVE:
					
	By:	 	/s/ Marc L. Lipshy	 		 		 	/s/ Thomas J. Pennison, Jr.
	Printed Name: Marc L. Lipshy	 		 		 	Printed Name: Thomas J. Pennison, Jr.
	Title: President	 		 		 	

  
 EMPLOYMENT
AGREEMENT 

  

PAGE 14Letter Agreement - Thomas J. Pennison, Jr.

 Exhibit 10.10 
 LSF5 WAGON HOLDINGS, LLC 
 2711 N. Haskell Avenue, Suite 1700 

Dallas, Texas 75204 
 October 17, 2011 
 Mr. Thomas J. Pennison, Jr. 

9 Serenity Drive 
 Mandeville, LA 70471

 Dear Tom: 
 As a highly valued
senior executive of Center Cut Hospitality, Inc., a Delaware corporation (together with its successors and assigns, “CCH”), you (also referred to herein as “Employee”) are being given the opportunity to earn bonus
compensation tied to a successful Sale (as defined below) or Qualified Public Offering (as defined below). This letter agreement (this “Letter”) sets forth the terms of this opportunity, which have been designed so that you will not
be required to make any future financial investment in Wagon, DFRG, CCH, or the Company (including any Public Company) (collectively, the “Company Group”) or incur an immediate tax obligation in connection with the award of this
opportunity. This opportunity is designed to align your interests with the interests of the Company’s investors, and, except as specifically provided below in this Letter, is provided in addition to, and not in lieu of, any existing equity,
bonus, or other compensation plan arrangement you currently have or in which you currently participate with the Company. Definitions of certain capitalized terms used herein are set forth at the end of this Letter. 

Subject to the terms and conditions set forth below, following consummation of a Sale, a Qualified Public Offering or a Secondary Public Offering (each
as defined below and each, a “Transaction”), and provided that, in each case, the Employee is actively employed with CCH on the date such Transaction is consummated (the “Transaction Date”), then the Employee shall
be eligible to earn a bonus (a “Transaction Bonus”) in an amount determined as set forth below and based on the Employee’s Transaction Bonus Amount with respect to such Transaction, as calculated in accordance with the
methodology set forth on Schedule A hereto (the amount so calculated in accordance with Schedule A with respect to any Transaction, the “Employee’s Transaction Bonus Amount”). 

For purposes hereof, if Employee’s employment with CCH is terminated within the 180-day period ending with any Transaction Date (i) solely due
to Employee’s Disability, (ii) by CCH without Cause, or (iii) by Employee for Good Reason, Employee shall be considered actively employed with CCH on such Transaction Date. 
 A. In the event of a Transaction that is a Sale, one-hundred per cent (100%) of the Employee’s Transaction Bonus Amount shall be payable to the Employee no later than seventy-five (75) days
after the applicable Transaction Date, subject to the following: 
  

	 	(a)	The Employee must comply with all requirements as to the execution and delivery of the Release (defined below) and award termination instruments provided for below;

 Mr. Thomas J. Pennison, Jr. 
  Page
 2
 
  
  

	 	(b)	 If the seventy-fifth
(75th) day following the Transaction Date is in a
different calendar year than the first (1st) day
following the Transaction Date, such payment shall be made in the calendar year in which the 75th day falls (but no later than such 75th day); and 

  

	 	(c)	The Transaction Bonus shall not be paid if the Employee’s employment with CCH (which term shall include, for purposes of this subparagraph, any successor or
acquirer of the Company’s business) is terminated by CCH for Cause or by the Employee without Good Reason prior to payment of the Transaction Bonus. 

 Any portion of a Transaction Bonus otherwise payable pursuant to this Paragraph A that is attributable to consideration which is deferred or contingent shall not be paid until the applicable seller(s)
receive such deferred or contingent portion of the consideration and to the extent that a portion of the consideration paid to the applicable seller(s) is in a form other than cash, Wagon shall have the right to pay a corresponding portion of the
Transaction Bonus to the Employee in the same form of consideration. 
 B. In the event of a Transaction that is a Qualified
Public Offering, an amount equal to the product of the Applicable Qualified Offering Percentage (as defined below) multiplied by the Employee’s Transaction Bonus Amount with respect to such Qualified Public Offering shall be payable to the
Employee in cash no later than seventy-five (75) days after the applicable Transaction Date; provided, however, if the seventy-fifth (75th) day following the Transaction Date is in a different calendar year than the first (1st) day following the Transaction Date, such payment shall be made
in the calendar year in which the 75th day falls (but no
later than such 75th day). In addition, if (x) the
Employee is entitled to a Transaction Bonus with respect to such Qualified Public Offering and (y) Wagon’s direct or indirect ownership percentage in the common equity of the Public Company is not reduced to zero as a result of such
Qualified Public Offering, then following each subsequent Secondary Public Offering (until Wagon’s direct or indirect ownership percentage in the common equity of the Public Company is reduced to zero), and provided that (i) except as
specifically provided herein, the Employee is actively employed with CCH (which term shall include, for all purposes of this Paragraph B, any successor or acquirer of the Company’s business) on the date such Secondary Public Offering is
consummated (also a “Transaction Date”), (ii) the Employee has not breached or violated any provision of the Employment Agreement or any other obligation to the Company, (iii) the Employee complies with all requirements as
to the execution and delivery of the Release and award termination instruments provided for below, and (iv) the Employee was entitled to a Transaction Bonus with respect to all previous Secondary Public Offerings (if any), then the Employee
shall be entitled to receive an additional bonus (also a “Transaction Bonus”) in an amount equal to the product of the Employee’s Transaction Bonus Amount with respect to such Secondary Public Offering, multiplied by the
Applicable Secondary Offering Percentage (as defined below) with respect to such Secondary Public Offering. Any Transaction Bonus payable with respect to a Secondary Public Offering shall be paid in cash no later than seventy-five (75) days
after the Transaction Date for such Secondary Public Offering; provided, however, if the seventy-fifth (75th) day following such Transaction Date is in a different calendar year than the first (1st) day following such Transaction Date,
such payment shall be made in the calendar year in which the 75th day falls (but no later than such 75th day). 
 Notwithstanding anything to
the contrary contained in this Letter, if (i) Employee is eligible hereunder for a Transaction Bonus in connection with a Qualified Public Offering, (ii) Employee remains actively employed with CCH at all times through the date that is 21
months after the Transaction Date of such Qualified Public Offering, and (iii) Employee has not breached or violated any provision of the 

 Mr. Thomas J. Pennison, Jr. 
  Page
 3
 
  
 
Employment Agreement or any other obligation to the Company during such 21-month period, then Employee shall not forfeit his or her eligibility to receive a Transaction Bonus with respect to any
Secondary Public Offering that is consummated after such 21-month period solely because Employee is not actively employed with CCH on the Transaction Date of such Secondary Public Offering; provided, however, that this sentence shall not be
applicable, and no Transaction Bonus shall be payable, from and after the date (if ever) that Employee is terminated for Cause or voluntarily resigns under circumstances where Cause exists. 
 Notwithstanding anything to the contrary contained in this Letter, if at any time the percentage of the aggregate common equity of the Public Company held directly or indirectly by Wagon is greater than
zero but not greater than 50% (determined on an as converted, fully diluted basis), Wagon shall have the right, but not the obligation, by written notice to Employee, to pay to Employee a bonus equal to the product of (i) the percentage of the
aggregate common equity of the Public Company held directly or indirectly by Wagon at the time of such notice (determined on an as converted, fully diluted basis) multiplied by (ii) the amount that would be the Employee’s Transaction Bonus
Amount (calculated in accordance with Schedule A hereto) if at the time of such notice the Public Company consummated a Secondary Public Offering at a per share issuance price equal to 105% of the Fair Market Value (as defined below) of one
share of the Public Company’s common equity securities as of such date. Any such bonus shall be payable, at Wagon’s election, in any combination of cash and/or the Public Company’s common stock (“Stock”) (valued as of
the date of grant and with registration rights as set forth above) no later than 75 days after the date of such notice. Following the exercise of this right, no additional Transaction Bonus will be payable under this Letter with respect to any
subsequent Transaction. 
 C. Notwithstanding anything to the contrary contained in this Letter: 

 

	 	(a)	Any portion of a Transaction Bonus otherwise payable that is attributable to that part of Aggregate Value which is deferred or contingent shall not be paid until the
Company Group and/or the equity owners of any member(s) of the Company Group receive such deferred or contingent portion of Aggregate Value and to the extent that a portion of Aggregate Value is paid to the Company or its equity owners in
non-marketable securities, Wagon shall have the right to pay, or to cause the payment of, a corresponding portion of the Transaction Bonus to the Employee in the same form of consideration, unless otherwise agreed to by the parties;

  

	 	(b)	Except as specifically set forth above with respect to Disability, if Employee’s employment with CCH terminates upon the Employee’s death or Disability, then,
thereafter, Employee (or his or her heirs and estate) shall not become entitled to any further payments hereunder (but Employee (and Employee’s heirs and estate) shall remain entitled to any payments hereunder to which Employee is otherwise
entitled as of the date of such termination); 

  

	 	(c)	The Employee shall not be eligible to earn or receive, and shall have no right, entitlement or earned or vested interest in or to any Transaction Bonus (i) until
the consummation of a Sale or Qualified Public Offering or Secondary Public Offering or (ii) except as specifically set forth above, based on any Transaction that is consummated after the termination of the Employee’s employment with CCH
for any reason; and 

 Mr. Thomas J. Pennison, Jr. 
  Page
 4
 
  
  

	 	(d)	The Employee shall not be eligible to earn or receive a Transaction Bonus, and the Employee shall forfeit all rights in and to any Transaction Bonus, if Employee’s
employment with CCH shall terminate for any reason prior to a Transaction (except as specifically set forth above). 

  

	 	(e)	Payment of the Transaction Bonus to which the Employee is otherwise entitled shall be contingent upon, and shall be earned and payable to the Employee if, and only if:
(i) a Transaction is consummated; and (ii) no later than sixty (60) days after the Transaction Date the Employee executes and delivers to Wagon a separation and release agreement (or, in the event the Employee’s employment with
CCH does not terminate upon consummation of the Transaction, a release agreement) in favor of each member of the Company Group, their respective direct and indirect equity owners (including Wagon, DFRG and their direct and indirect equity owners),
and their respective affiliates in form and substance reasonably satisfactory to Wagon (the “Release”), provided that the Release shall not release any obligations to make any payments to, or to cause payments to be made to, the
Employee required under this Letter, and such Release remains in effect following the expiration of any applicable notice, review and/or revocation periods. Wagon shall be required to deliver to the Employee its required form of Release within
fourteen (14) days after the Transaction Date. 

 D. For the avoidance of doubt, the Employee’s rights, if any, with
respect to a Transaction Bonus in the event of a Qualified Public Offering shall apply only with respect to the first Qualified Public Offering consummated after the date of this Letter and, but only to the extent specifically provided for herein,
each subsequent Secondary Public Offering, and no Transaction Bonus shall be paid or payable with respect to any subsequent Sale or Qualified Public Offering (other than the portion of any subsequent public offering that constitutes a Secondary
Public Offering). In addition, if prior to a Qualified Public Offering there is a Sale, then no Transaction Bonus shall be paid or payable with respect to any subsequent sale of any other assets of the Company or Qualified Public Offering.

 E. The Employee shall not have any transferable right or interest in the Transaction Bonus or other compensation or amounts payable pursuant
to this Letter, nor any right to anticipate, alienate, assign, dispose of, pledge or encumber the same, nor shall the same be subject to attachment, garnishment, execution following judgment or other legal process instituted by creditors of the
Employee, and any action in violation of this provision shall be void. No member of the Company Group shall be required to segregate any funds or other assets to be used for the payment of the Transaction Bonus or any other payment under this
Letter, and no record or other notation on any member of the Company Group’s books of the obligations created by this Letter with respect to the Transaction Bonus or any other payment shall be considered as evidence of the creation of a trust
fund, an escrow or any other segregation of assets for the benefit of the Employee. Any obligation to pay the Transaction Bonus or any other compensation or amounts are unsecured contractual obligations only, and the Employee shall not have any
beneficial or preferred interest by way of trust, escrow, lien or otherwise in and to any specific assets or funds of any member of the Company Group. The Employee specifically acknowledges and agrees that (i) any rights Employee may have to
the Transaction Bonus or any other payment pursuant to the terms of this Letter (except for Stock issued under Paragraph B above) are not securities of any person or entity and do not create any right in the equity or capital of any member of the
Company Group, and (ii) receipt of the Transaction Bonus, if any, or other compensation or amounts payable pursuant to this Letter, may constitute ordinary income for federal and state income tax purposes and shall be subject to all applicable
payroll, income tax and other withholding obligations. No Member of the Company Group other than Wagon and DFRG shall be liable for, and the Employee shall 

 Mr. Thomas J. Pennison, Jr. 
  Page
 5
 
  
 
look solely to the general credit of Wagon and DFRG for satisfaction of, any obligations due or to become due under this Letter with respect to a Transaction Bonus, or any other payment,
resulting from a Sale. No Member of the Company Group other than Wagon shall be liable for, and the Employee shall look solely to the general credit of Wagon for satisfaction of, any obligations due or to become due under this Letter with respect to
a Transaction Bonus, or any other payment, resulting from a Qualified Public Offering or Secondary Public Offering. If any member of the Company Group should, in its sole discretion, earmark or set aside any funds or other assets to pay amounts
hereunder, the same shall, nevertheless, remain and be regarded as part of the general assets of such member, as applicable, subject to the claims of its general creditors (and shall not be considered to be held in a fiduciary capacity for the
benefit of the Employee), and the Employee shall not have any legal, beneficial, security or other property interest herein. Nothing herein shall be deemed as a waiver of any rights of the Employee or Employee’s heirs or estate in the event of
Employee’s death. 
 F. [Intentionally omitted.] 
 G. All payments and benefits under this Letter are intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the United States Treasury Regulations and Internal
Revenue Service guidance published thereunder or with respect thereto (collectively, “Section 409A”) and, accordingly, to the maximum extent permitted, this Letter shall be interpreted to be in compliance therewith. Notwithstanding
such intent or anything to the contrary contained in this Letter, in no event whatsoever shall any member of the Company Group be liable for any additional tax, interest or penalty that may be imposed on Employee by Section 409A or damages for
failing to comply with Section 409A. 
 H. All determinations under this Letter of the Employee’s Transaction Bonus Amount,
Transaction Bonus, the Existing IA Compensation and any other amounts payable under or relevant to the determination of any Transaction Bonus provided for herein, and all decisions, interpretations and determinations with regard to any question or
matter arising under this Letter, will be made in the good faith discretion of Wagon. 
 I. As used herein: 

“Aggregate Value” shall mean: either (1) in the case of a Sale, the sum of the aggregate outstanding principal
balance of indebtedness for borrowed money of the Company plus the total net purchase price paid to CCH in respect of its assets or to the equity holders of DFRG or CCH in respect of their equity interests, as the case may be (as adjusted for
working capital and other purchase price adjustments pursuant to the applicable Sale documents), or (2) in the case of a Qualified Public Offering or Secondary Public Offering, the sum of the aggregate outstanding principal balance of
indebtedness for borrowed money of the Company plus the implied aggregate common equity value of the Public Company based on such Qualified Public Offering or Secondary Public Offering issuance price, as the case may be, and for avoidance of doubt,
in both clauses (1) and (2) above, without duplication. 
 “Applicable Qualified Offering Percentage”
shall mean the excess of (i) the percentage of the aggregate common equity of the Public Company held directly or indirectly by Wagon immediately prior to the first Qualified Public Offering consummated after the date of this Letter (determined
on an as converted, fully diluted basis) over (ii) the percentage of the aggregate common equity of the Public Company held directly or indirectly by Wagon immediately after such Qualified Public Offering (determined on an as converted, fully
diluted basis). 

 Mr. Thomas J. Pennison, Jr. 
  Page
 6
 
  
 
Notwithstanding the foregoing, the portion, if any, of the excess described immediately above that results from the compensatory grant or compensatory issuance of common equity or of options or
similar rights to acquire common equity in connection with such Qualified Public Offering shall be added back to the amount described in clause (ii) above for purposes of determining the Applicable Qualified Offering Percentage with respect to
such Qualified Public Offering. 
 “Applicable Secondary Offering Percentage” shall mean with respect to any
Secondary Public Offering, the excess of (i) the percentage of the aggregate common equity of the Public Company held directly or indirectly by Wagon immediately prior to such Secondary Public Offering over (ii) the percentage of the
aggregate common equity of the Public Company held directly or indirectly by Wagon immediately after such Secondary Public Offering. Notwithstanding the foregoing, the portion, if any, of the excess described immediately above that results from the
grant or issuance (whether or not compensatory) by the Public Company of common equity or of warrants or options to acquire common equity, or the sale by the Public Company of newly issued common equity or of securities or other instruments
convertible into common equity, in connection with such Secondary Public Offering, shall be added back to the amount described in clause (ii) above for purposes of determining the Applicable Secondary Offering Percentage with respect to such
Secondary Public Offering. 
 “Cause” shall have the meaning set forth in the Employment Agreement. 

“Company” shall mean, collectively, DFRG, together with each of its subsidiaries (including, but not limited to, CCH) and
its and their successors and assigns. 
 “DFRG” shall mean Del Frisco’s Restaurant Group, LLC, a Delaware
limited liability company, together with its successors and assigns. 
 “Disability” shall have the meaning set
forth in the Employment Agreement. 
 “Employment Agreement” shall mean Employee’s Executive Employment
Agreement of even date herewith with CCH (which term shall include, for purposes of this Letter, any successor or acquirer of the Company’s business), as from time to time amended, supplemented, restated, or otherwise modified. 

“Fair Market Value” means: 
 (i) If the Public Company’s common equity shares are listed on any established stock exchange or a national market system, or are regularly quoted on an automated quotation system (including the OTC
Bulletin Board and the “Pink Sheets” published by the National Quotation Bureau, Inc.) or by a recognized securities dealer, the average of the closing sales prices per share over the 30-day period ending on the date of determination, as
reported in The Wall Street Journal or such other source as Wagon deems reliable; or 
 (ii) In the absence of an
established market for the shares described in (i) above, the issuance price used in the most recent Qualified Public Offering or Secondary Public Offering to have been consummated. 

 Mr. Thomas J. Pennison, Jr. 
  Page
 7
 
  

“Good Reason” shall have the meaning set forth in the Employment Agreement. 

“Public Company” shall mean whichever of DFRG or CCH is the issuer in the first Qualified Public Offering to be
consummated after the date hereof. 
 “Qualified Public Offering” shall mean a firm commitment underwritten
public offering of common equity securities for gross cash proceeds to the issuer of at least $30 Million where the shares of DFRG’s or CCH’s common equity securities that are registered under the Securities Act of 1933, as amended, are
listed on a national securities exchange or are quoted on NASDAQ. 
 “Sale” shall mean a sale or transfer of all
or substantially all of the assets of CCH in one transaction or series of transactions, the sale, exchange, or other disposition of a majority of the equity interests in or of DFRG or CCH, or any transaction having a similar effect (including,
without limitation, a merger or consolidation), but excluding (i) a Qualified Public Offering or Secondary Public Offering or (ii) any sales, transfers or other transactions to or with subsidiaries or affiliates of any member of the
Company Group or Wagon’s equity holders, or any transaction with an entity that is entered into by any member of the Company Group, or their subsidiaries or affiliates, or Wagon’s equity holders, as part of a reorganization, restructuring
or conversion of one or more members of the Company Group. 
 “Secondary Public Offering” shall mean a
registered public offering of the same class of equity securities that were sold in the first Qualified Public Offering consummated after the date of this Letter, but only if Wagon receives proceeds from such offering due to a reduction in
Wagon’s direct or indirect ownership percentage in the common equity of the Public Company. 
 “Wagon”
means LSF5 Wagon Holdings, LLC, a Delaware limited liability company, together with its successors and assigns. 
  

 
 This Letter shall be governed
by and construed in accordance with the laws of the State of Texas and shall be subject to Section 6 of the Employment Agreement in all respects. In order for the Transaction Bonus opportunity described above to be effective, you are required
to promptly countersign and deliver to Wagon (i) the enclosed copy of this Letter (you may keep the original for your records) and (ii) the accompanying Employment Agreement. 
 This Letter may be executed in any number of counterparts with the same effect as if all parties hereto had signed the same document. All counterparts shall be construed together and shall constitute one
agreement. This Letter and any amendments hereto, to the extent signed and delivered by means of a facsimile machine or electronic transmission, shall be treated in all manner and respects as an original Letter and shall be considered to have the
same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto the other parties hereto shall re-execute original forms thereof and deliver them to such requesting party. No party
hereto shall raise the use of a facsimile machine or electronic transmission to deliver a signature or the fact that any signature was transmitted or communicated through the use of facsimile machine or electronic transmission as a defense to the
formation of a contract and each such party forever waives any such defense. 
 [Signature page follows.] 

 Mr. Thomas J. Pennison, Jr. 
  Page
 8
 
  
 Should you have any
questions, please contact the undersigned. 
 Sincerely, 
  

			
	LSF5 WAGON HOLDINGS, LLC
		
	By:	 	/s/ Jennifer R. Lamprecht        
		 	Name: Jennifer Lamprecht
		 	Title: Vice President

  

			
	DEL FRISCO’S RESTAURANT GROUP, LLC
		
	By:	 	/s/ Jennifer R. Lamprecht        
		 	Name: Jennifer Lamprecht
		 	Title: Vice President

 I hereby acknowledge receipt and agree to the terms of this Letter and the accompanying Employment Agreement this 17th
day of October, 2011. 
  

	
	      /s/ Thomas J. Pennison, Jr.        
	Name: Thomas J. Pennison, Jr.

 Mr. Thomas J. Pennison, Jr. 
  Page
 9
 
  

Schedule A 

Computation of Employee’s Transaction Bonus Amount 
 Thomas J. Pennison, Jr. 
  

															
	Transaction Bonus Program	 
	Aggregate Value	  	Bonus Share %	 	  	Bonus Pool	 
	Min ($MM)	 	 Max ($MM)
	  	  	Min
($000)	 	  	Max
($000)	 
	<228.0	 	—  	  	 	0.0%	  	  	 	0.0	  	  	 	0.0	  
	>228.0	 	<260.2	  	 	0.5%	  	  	 	1,140.0	  	  	 	1,301.0	  
	>260.2	 	<277.8	  	 	1.0%	  	  	 	2,603.0	  	  	 	2,778.0	  
	>277.8	 	<292.5	  	 	1.5%	  	  	 	4,168.5	  	  	 	4,386.0	  
	 >292.5
	  				  	 
 	5,850.0 + 5% of anything
over 292.5MM	  
  

 General Rule: If the Aggregate Value with respect to a particular Transaction is less than
$292,500,000, the Employee’s Transaction Bonus Amount with respect to such Transaction shall be calculated using the following formula: 
 A x B x C, where: 
 A = 20%* 

B = Aggregate Value from the subject Transaction 

C = The Aggregate Value’s applicable Bonus Share % from the chart above 

Exception: If the Aggregate Value with respect to a particular Transaction is $292,500,000 or greater, the Employee’s
Transaction Bonus Amount with respect to such Transaction shall be calculated using the following formula: 
 A x
[$5,850,000 + (C x (B – $292,500,000))], where: 
 A = 20%* 

B = Aggregate Value from the subject Transaction 

C = 5% 
 *
Subject to the right of the Company, in its sole and absolute discretion, to increase the specified percentage by up to five (5) percentage points.

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