Document:

Form of Employee Subscription Agreement of Morton's Holdings, LLC

 Exhibit 10.8 
  
 FORM OF EMPLOYEE SUBSCRIPTION AGREEMENT 
  
 This EMPLOYEE SUBSCRIPTION AGREEMENT (as amended, modified or supplemented from time to time, this
“Agreement”) is dated as of [DATE], by and between Morton’s Holdings, LLC, a Delaware limited liability company (the “LLC” or “Company”), and [NAME], a natural person (the
“Employee”). Capitalized terms used herein but not otherwise defined have the meaning set forth in Section 1 below. 
  
 WHEREAS, the Employee is an employee of the Company or one or more of its Subsidiaries; 
  
 WHEREAS, the parties desire to enter into an agreement regarding the grant by the Company to the Employee of the aggregate
number of the Common Units set forth on Schedule I attached hereto, upon terms and conditions set forth herein; 
  
 WHEREAS, the Common Units granted hereunder by the LLC are pursuant to compensation and incentive arrangements established by the LLC’s Board of
Advisors; 
  
 WHEREAS, the Employee acknowledges and agrees that
the provisions of this Agreement (including, without limitation, Section 5) are material to the LLC and its Subsidiaries and are essential to protect the value of the LLC’s business and assets and that the LLC would not have entered into this
Agreement without such provisions; and 
  
 WHEREAS, with respect
to Employees who are residents of the State of California, the terms of this Agreement shall be deemed modified to reflect the provisions of Appendix I attached hereto. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  
 1. Definitions. As used herein, the following terms shall have the following meanings: 
  
 “Affiliate” means, as to any Person, any other Person that
directly or indirectly controls, or is under common control with, or is controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common control
with”) means possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise). Solely for
purposes of the definition of “Change in Control”, any Person who is a limited partner of Castle Harlan or any of its Affiliates shall be deemed to be an “Affiliate” of Castle Harlan hereunder. 
  
 “Board of Advisors” means the LLC’s Board of Advisors
(as defined in the LLC Agreement). 
  
 “Castle
Harlan” means Castle Harlan Partners III, L.P., a Delaware limited partnership. 
  
 “Change in Control” means either of the following: (i) a majority of the Board of Advisors shall be comprised of individuals other than designees of Castle Harlan or any of its Affiliates or (ii)
Castle Harlan and its Affiliates (including, without limitation, affiliated management companies and their respective executives and employees), in the aggregate, shall cease to own (beneficially or of record, directly or indirectly) either (x) if
no Qualified Public Offering of Common Units of the LLC (or its successor) has occurred, at least a majority of the voting power of all classes of units (other than the Preferred Units or other preferred units) of the LLC (or its successor) or (y)
if a Qualified Public Offering of Common Units of the LLC (or its successor) has occurred, at least 20% of the voting power of all classes of units (other than the Preferred Units or other preferred units) of the LLC (or its successor). 

 
 “Common Unit” has the meaning set forth in the LLC
Agreement. For purposes of this Agreement, a Person will be deemed to be an owner of Common Units whenever such Person has the right (other than pursuant to this Agreement) to acquire directly or indirectly such Common Units (directly or upon
conversion, exchange or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations with respect to the exercise of such right, including whether or not such right to 

  

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acquire has vested or is unvested), whether or not such acquisition has actually been effected. Following any Conversion, all references herein to Common
Units shall be deemed to be references to common stock (or other primary voting securities) of the Successor Entity or other appropriate references representing such equity interests. 
  
 “Company” has the meaning set forth in the introductory paragraph hereof. 
  
 “Company Group” means the LLC and its Subsidiaries,
collectively. 
  
 “Conversion” means a
substitution of the LLC or a change in the legal status of the LLC (including in connection with a Public Offering) from a limited liability company into a business corporation or such other form of business organization (the “Successor
Entity”) organized under the laws of State of Delaware or one of the other states or territories of the United States of America or the District of Columbia in such form and manner (including, without limitation, by merger, reorganization,
liquidation, transfer of Units or assets of the LLC or any Subsidiary of the LLC, or by any other means permissible under applicable law) and with such classes of stock or other equity interests having such rights, preferences and other terms as may
be approved by the Board of Advisors in accordance with the LLC Agreement. 
  
 “Distribution” means any dividend or other distribution by the LLC to Castle Harlan and/or its Affiliates, in their capacity as Unitholders of the LLC, of any cash, cash equivalents or marketable
securities. 
  
 “Effective Time” means July 25,
2002. 
  
 “Employee” has the meaning set forth in
the introductory paragraph hereof. 
  
 “Employee
Agreement” means any agreement, arrangement or understanding (including, without limitation, any subscription agreement, employment agreement, letter or other agreement) between the Employee and the LLC (or any of its Subsidiaries).

  
 “Employee Securities” means the Common Units
acquired pursuant hereto by the Employee and will include Common Units issued with respect to Employee Securities by way of a split, dividend, distribution, combination, exchange, conversion, or other recapitalization, merger, consolidation or
reorganization. 
  
 “Grant Date” has the meaning
set forth in Section 2(b) hereof. 
  
 “IRR” means
the average annual rate of return, calculated on the basis of monthly compounding, as reasonably determined by Castle Harlan in accordance with principles customarily used in the financial community in calculating internal rate of return on
investment, with respect to the investment by Castle Harlan (and its Affiliates) in the Units of the LLC based solely on the net proceeds (but only to the extent constituting cash, cash equivalents or marketable securities (as such marketable
securities are valued in the reasonable judgment of Castle Harlan)) received by Castle Harlan (and its Affiliates), in their capacity as Unitholders, on a fully diluted basis for or on account of any such Units as a result of the applicable
Distribution and all prior Distributions, after deduction of the proportionate share of any fees or expenses paid or payable by Castle Harlan (and its Affiliates) in respect of any transaction(s) that gave rise to such Distributions. The IRR shall
be calculated using the actual number of months elapsed between the date of the investments made by Castle Harlan (and its Affiliates) in the LLC and the date of the applicable Distribution, and should Castle Harlan (and its Affiliates) have
invested additional amounts in the LLC, or received amounts of distributions from the LLC, since the Effective Time, the calculation of the IRR shall take into account such amounts as having been so invested or distributed, as the case may be, on
the first day of the month in which Castle Harlan (and its Affiliates) makes such additional investment or receives such distribution, as the case may be. For purposes of the foregoing calculation, the IRR shall be rounded down to 1 decimal place.
(For the avoidance of doubt, in no event shall any management fees or other similar fees received by Castle Harlan (or its Affiliates) be factored into the calculation of the IRR.) 
  

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 “IRR Target” means an IRR of thirty percent (30%) per annum. 

 
 “Joinder Agreements” has the meaning set forth in Section
2(c) hereof. 
  
 “Joinders” has the meaning set
forth in Section 2(c) hereof. 
  
 “Liquidation
Event” means any of the following: (i) a liquidation or dissolution of the Company, (ii) the sale or other disposition in one or the final of a series of related transactions of all or substantially all of the assets or businesses of the
Company and its Subsidiaries to any Person (or group of Persons) other than Castle Harlan (and/or its Affiliates), or (iii) a sale of equity, merger, acquisition, consolidation, combination, reorganization or other transaction involving or relating
to the Company resulting in less than 10% of the combined voting power of the surviving or resulting entity being owned by Castle Harlan (and/or its Affiliates). 
  
 “LLC” has the meaning set forth in the introductory paragraph hereof. 
  
 “LLC Agreement” means that certain Second Amended and
Restated Limited Liability Company Agreement of Morton’s Holdings, LLC, dated as of October 29, 2002, by and among the parties thereto, as in effect from time to time. 
  
 “Performance Vesting Employee Securities” means the Employee Securities set forth opposite the term
“Performance Vesting Employee Securities” on Schedule I attached hereto. 
  
 “Person” means an individual, a partnership, a corporation, an association, a limited liability company, a joint stock company, a trust, a joint venture, an unincorporated organization or a
governmental entity or any department, agency or political subdivision thereof. 
  
 “Preferred Unit” has the meaning set forth in the LLC Agreement. Following any Conversion, all references herein to Preferred Units shall be deemed to be references to preferred stock of the Successor
Entity or other appropriate references representing such equity interests, in each case consistent in all material respects with such relative preferences and rights as those of the Preferred Units. 
  
 “Public Offering” means an initial public offering
registered under the Securities Act of equity securities of the LLC. 
  
 “Qualified Public Offering” means an underwritten public offering registered under the Securities Act of equity securities of the LLC generating net cash proceeds (after deduction of underwriting commissions and discounts)
of at least $20,000,000. 
  
 “SEC” means the
Securities and Exchange Commission. 
  
 “Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
  
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other business
entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a majority of the
partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be
deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, 

  

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partnership, association or other business entity gains or losses or shall be or control the managing director, general partner or similar controlling Person
of such limited liability company, partnership, association or other business entity. 
  
 “Successor Entity” has the meaning set forth in the definition of “Conversion”. 
  
 “Time Vesting Employee Securities” means the Employee Securities set forth opposite the term “Time Vesting Employee Securities”
on Schedule I attached hereto. 
  
 “Unit”
has the meaning set forth in the LLC Agreement, and shall include any Units (including, without limitation, the Common Units and Preferred Units) issued or issuable to, or owned by, the Unitholders on the date hereof and any other equity securities
of the LLC acquired by, or issued or issuable to, the Unitholders on or after the date hereof. For purposes of this Agreement, a Person will be deemed to be an owner of Units whenever such Person has the right (other than pursuant to the terms of
this Agreement) to acquire directly or indirectly such Units (directly or upon conversion, exchange or exercise in connection with a transfer of securities or otherwise, but, unless otherwise provided in this Agreement, disregarding any restrictions
or limitations upon the exercise of such right, including whether or not such right to acquire has vested or is unvested), whether or not such acquisition has actually been effected. 
  
 “Unitholder” has the meaning ascribed to such term under the Unitholders Agreement. 
  
 “Unitholders Agreement” means the Amended and Restated
Unitholders Agreement of the Company, dated as of October 29, 2002, as in effect from time to time. 
  
 “Unvested Common Units” has the meaning set forth in Section 3(a) hereof. 
  
 “Vesting Employee Securities” means the Performance Vesting Employee Securities and Time Vesting Employee
Securities, collectively. 
  
 “Vested Common
Units” has the meaning set forth in Section 3(a) hereof. 
  
 2. Employee Securities. 
  
 (a)
Subject to the terms and conditions set forth herein, the LLC shall grant to the Employee the aggregate number of Common Units set forth on Schedule I attached hereto. One-half ( 1/2) of such Common Units shall be designated as Time Vesting Employee Securities and one-half ( 1/2) of such Common Units shall be designated as Performance Vesting Employee Securities, in each case as indicated on Schedule I attached hereto.

  
 (b) The date of grant shall be
date listed in Schedule I attached hereto (the “Grant Date”). On the Grant Date, the Employee shall execute and deliver to the LLC the Section 83(b) election form (as attached hereto as Exhibit A) necessary for the
Employee to make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. The LLC shall promptly, and in any event
within 30 calendar days of the Grant Date, mail the Section 83(b) election, as executed by the Employee, to the Internal Revenue Service on behalf of the Employee. 
  
 (c) Upon execution of this Agreement, the Employee shall execute and deliver a joinder to the LLC Agreement
(as attached hereto as Exhibit B) and a joinder to the Unitholders Agreement (as attached hereto as Exhibit C) (such joinders, collectively, the “Joinders” and the underlying LLC Agreement and the Unitholders
Agreement, collectively, the “Joinder Agreements”), to the extent the Employee is not already a party to the respective Joinder Agreements, whereupon, as applicable, the Employee shall become (x) a “Member” and an
“Executive” under the LLC Agreement and (y) a “Unitholder” and an “Executive” under the Unitholders Agreement; provided, that, notwithstanding the foregoing to the contrary, the Employee shall have the rights
(economic, voting and otherwise) as a Member, Unitholder 

  

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or otherwise under the Joinder Agreements with respect to Employee Securities only at such time or times that the respective Employee Securities shall have
vested pursuant to the provisions of this Agreement; provided, that any rights to distributions and any rights to allocation of income or loss with respect to Employee Securities shall be unvested and retained by the Company during the period
that the respective Employee Securities shall not have vested, and such rights shall be paid or provided to the Employee if and when the Employee Securities vest, in proportion to the total Employee Securities that are vested from time to time.

  
 (d) In connection with the grant of the
Employee Securities, the Employee represents and warrants to the LLC that: 
  
 (i) The Employee Securities granted or to be granted to the Employee pursuant to this Agreement will be held for the Employee’s own account for investment purposes only and not with a view to, or intention of,
the resale or distribution thereof in violation of the Securities Act, or any applicable state securities laws. The Employee understands that (x) the Employee Securities have not have been registered under the Securities Act or any state securities
laws and were issued in a private transaction in reliance upon specific exemptions from such registration under Section 4(2) thereof, and (y) there is no existing public or other market for the Employee Securities. The Employee Securities will not
be disposed of in contravention of the Securities Act or any applicable state securities laws. 
  
 (ii) No commission, fee or other remuneration is to be paid or given, directly or indirectly, to any Person acting on behalf of the
Employee in connection with this Agreement or the transactions contemplated hereby. 
  
 (iii) The Employee is sophisticated in financial matters and is able to evaluate the risks and benefits of holding the Employee
Securities and has determined that such investment in the Employee Securities is suitable for the Employee, based upon the Employee’s financial situation and needs, as well as the Employee’s other securities of the LLC. 
  
 (iv) The Employee is able to bear the economic risk of the
Employee’s investment in the Employee Securities for an indefinite period of time and the Employee understands that the Employee Securities have not been registered under the Securities Act and cannot be sold unless subsequently registered
under the Securities Act or an exemption from such registration is available. 
  
 (v) The Employee has had an opportunity to ask questions and receive answers concerning the terms and conditions of the offering of
Employee Securities and has had full access to such other information concerning the LLC and its Subsidiaries as the Employee has requested. Without limiting the generality of the foregoing, the Employee confirms that he has received and reviewed a
copy of the LLC Agreement and the Unitholders Agreement. 
  
 (vi) This Agreement constitutes the legal, valid and binding obligation of the Employee, enforceable in accordance with its terms. The execution, delivery and performance of this Agreement and the other agreements
contemplated hereby by the Employee does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Employee is a party or by which the Employee is bound (including, without limitation, any
non-compete, nonsolicitation or confidentiality agreement) or any judgment, order or decree to which the Employee is subject. The Employee agrees to notify the Board of Advisors of any matter (including, but not limited to, any potential acquisition
by the LLC or any of its Subsidiaries) that, to Employee’s knowledge, might reasonably be expected to violate or cause a breach of any such agreement. 
  
 (e) As an inducement to the LLC to grant the Employee Securities to the Employee, and as a condition thereto, the Employee acknowledges
and agrees that: 
  
 (i) neither the
Employee’s ownership of any equity of the LLC, the grant of the Employee Securities to the Employee, nor any provision contained herein shall entitle the Employee to 

  

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remain in the employment of the Company or any of its Subsidiaries or affect the right of the Company or any of its Subsidiaries to terminate the
Employee’s employment at any time for any reason; and 
  
 (ii) the Company shall have no duty or obligation to disclose to the Employee, and the Employee shall have no right to be advised of, any material information regarding the Company and its Subsidiaries at any time
prior to, upon or in connection with the repurchase of Employee Securities upon the termination of the Employee’s employment with the Company and its Subsidiaries or as otherwise provided hereunder. 
  
 (f) The Company and the Employee acknowledge and agree that
this Agreement has been executed and delivered, and the Employee Securities have been granted hereunder, in connection with and as a part of the compensation and incentive arrangements between the LLC and the Employee, which arrangements have been
established by the Board of Advisors. 
  
 3. Vesting of Vesting
Employee Securities. 
  
 (a) Date
Hereof. None of the Vesting Employee Securities are vested as of the date hereof. Vesting Employee Securities that have become vested in accordance with the terms of this Agreement are referred to herein as “Vested Common
Units”, and all other Vesting Employee Securities are referred to herein as “Unvested Common Units”. Notwithstanding anything to the contrary, the number of Vested Common Units shall not increase once the Employee ceases to
be employed by the Company and/or any of its Subsidiaries. 
  
 (b) Time Vesting Employee Securities. 
  
 (i) Except as otherwise provided in Section 3(b)(ii) below, Time Vesting Employee Securities vest as of the following dates, if, as of each such date, the Employee is employed by the Company or any of its
Subsidiaries: 
  

				
	 Date

	  	Cumulative Percentage of
Time Vesting Employee
Securities That Shall Vest

	 
	 Third Anniversary of Grant Date
	  	40	%
	 Fourth Anniversary of Grant Date
	  	70	%
	 Fifth Anniversary of Grant Date
	  	100	%

  
 (ii)
Acceleration of Vesting Upon a Change in Control. If the Employee is, and has been, continuously employed by the Company or any of its Subsidiaries from the date of this Agreement until a Change in Control, the portion of the Employee’s
outstanding Time Vesting Employee Securities that has not become vested at the date of such Change in Control shall immediately vest simultaneously with consummation of the Change in Control. 
  
 (c) Performance Vesting Employee Securities.

  
 (i) Upon the occurrence of the earlier of
(x) a Change in Control or (y) a Liquidation Event (such earlier event, the “Final Test Event”) (after giving effect to any concurrent Distribution), subject to the ordering rule set forth in Section 3(c)(ii), the Performance Vesting
Employee Securities shall become vested to the extent that Castle Harlan (and its Affiliates) shall have achieved an IRR at least equal to the IRR Target as of the date of the consummation of the Final Test Event (after giving effect to any
concurrent Distribution), but only if the Employee is employed by the Company or any of its Subsidiaries on such date and has continuously been so employed from the date of this Agreement through such date (it being understood and agreed that,
notwithstanding anything to the contrary in this Agreement, in computing the IRR for purposes of this Section 3(c)(i), the value of the Units held by Castle Harlan (and its Affiliates), as 

  

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such value is determined in the reasonable judgment of Castle Harlan (taking into account all relevant factors determinative of value), shall be factored
into the calculation of the IRR as if Castle Harlan (and its Affiliates) had received such value in cash on the date of consummation of the Final Test Event). 
  

(ii) The IRR shall be computed by first assuming that the Performance Vesting Employee Securities, together with any and all other
performance vesting employee securities that may have been issued by the Company, all on a pro rata basis, become vested on a unit-by-unit basis, such that Performance Vesting Employee Securities become vested on a pro rata basis only with respect
to that portion of the Performance Vesting Employee Securities that permit the IRR Target to be satisfied. 
  
 (iii) Upon the occurrence of the Final Test Event (after giving effect to any concurrent Distribution), Performance Vesting Employee
Securities that constitute Unvested Common Units shall be immediately forfeited without any action of the part of any Person. 
  
 4. Right to Repurchase Employee Securities Upon the Employee’s Termination. Upon the termination of the Employee’s employment, (x) Vested
Common Units are subject to repurchase in accordance with the terms of Section 11 of the Unitholders Agreement (it being understood and agreed that the calculation of “fair market value” thereunder shall be determined in the sole
discretion of the Board of Advisors) and (y) Unvested Common Units shall be immediately and automatically forfeited without any action on the part of any Person. 
  
 5. Unitholder Agreement Covenants. The Employee acknowledges that, upon execution and delivery of the Joinders, the
Employee shall be subject to the terms of the Joinder Agreements. Without limiting the foregoing, the Employee shall be subject to the terms of Section 9 of the Unitholders Agreement (including, without limitation, in respect of nondisclosure of
confidential information and non-disparagement). 
  
 6.
Restrictions on Transfer. 
  
 (a) If
certificated, the Employee Securities will bear substantially the following legend: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED ON [DATE], AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES
LAWS, AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN (I) THAT CERTAIN EMPLOYEE SUBSCRIPTION AGREEMENT, DATED AS OF [DATE], AS AMENDED
AND MODIFIED FROM TIME TO TIME, BY AND BETWEEN MORTON’S HOLDINGS, LLC (THE “COMPANY”) AND THE SIGNATORY THERETO, (II) THAT CERTAIN AMENDED AND RESTATED UNITHOLDERS AGREEMENT, DATED AS OF OCTOBER 29, 2002, AS AMENDED AND MODIFIED FROM
TIME TO TIME, BY AND AMONG THE COMPANY AND CERTAIN OTHER PARTIES THERETO, AND (III) THAT CERTAIN SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF THE COMPANY, DATED AS OF OCTOBER 29, 2002, AS AMENDED AND MODIFIED FROM TIME TO TIME,
BY AND AMONG THE PARTIES THERETO, AND THE COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY TO
THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.” 
  

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 (b) The Employee understands that the Employee Securities have not have been registered
under the Securities Act or any state securities laws and were issued in a private transaction in reliance upon specific exemptions from such registration under Section 4(2) thereof and the Employee agrees that without registration (and subject to
the terms of the Joinder Agreements), the Employee Securities may not be sold, pledged, hypothecated, or otherwise transferred at any time whatsoever, except on delivery to the Company of an opinion of counsel satisfactory to the Board of Advisors
that registration is not required for the transfer, or the submission to the Board of Advisors of other evidence satisfactory to the Board of Advisors to the effect that any transfer will not be in violation of the Securities Act and applicable
state securities laws or any rule or regulations promulgated thereunder. 
  
 (c) Each holder of Employee Securities acknowledges and agrees that the Employee Securities are subject to additional restrictions and limitations contained in the Joinder Agreements and any transferee of Employee
Securities shall hold such Employee Securities subject to the restrictions and limitations contained in this Agreement (including, without limitation, the risk of forfeiture) as well as such additional restrictions and limitations contained in the
Joinder Agreements. 
  
 7. Tax Matters. The Employee shall
be solely responsible for, and shall indemnify, defend and hold harmless the Company and its Subsidiaries (and their respective officers, directors, employees and members) for, any liability associated with federal, state or local income tax
withholding and employment tax withholding in respect of the Employee or his transferees (including all interest, penalties and additions to tax with respect thereto) resulting from, or arising with respect to, the issuance to the Employee (or
transfer to any such transferee) of any Common Units or other equity interests in the Company, whether acquired by purchase from the Company or otherwise, or the holding by the Employee or his transferees of any such Common Units or other equity
interests in the Company. 
  
 8. Notices. All notices,
demands and other communications to be given or delivered under or by reason of provisions under this Agreement (a) shall be in writing, (b) must be delivered via a nationally-recognized overnight delivery service (delivery charges prepaid) or via
facsimile along with written confirmation, and (c) shall be effective only upon actual receipt by the recipient at the addresses or facsimile numbers indicated below: 
  
 To the LLC: 
  
 Morton’s Holdings, LLC  
 c/o Castle Harlan Partners III, L.P. 
 150
East 58th Street 
 New York, NY 10155 
 Facsimile:        [NUMBER] 
 Attention:        [NAME] 
  

and 
  
 Morton’s Restaurant Group, Inc. 
 3333
New Hyde Park Road 
 New Hyde Park, NY 11042 
 Facsimile:        [NUMBER] 
 Attention:        [NAME] 
  

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 with copies (which shall not constitute notice) to: 
  
 Castle Harlan Partners III, L.P. 
 150 East 58th Street

 New York, NY 10155 
 Facsimile:        [NUMBER] 
 Attention:        [NAME] 
  
 and 
  
 Schulte Roth & Zabel
LLP 
 919 Third Avenue 
 New
York, NY 10022 
 Facsimile:        [NUMBER] 
 Attention:        [NAME] 
  

To the Employee: 
  
 At the address set forth on the signature page hereto. 
  
 or such other address, facsimile number or to the attention of such other Person as the recipient party shall have specified by prior written notice to
the sending party. 
  
 9. Miscellaneous. 
  
 (a) Transfers in Violation of Agreement. Any transfer
or attempted transfer of any Employee Securities in violation of any provision of this Agreement or any of the Joinder Agreements shall be null and void, and the LLC shall not record such transfer on its books or treat any purported transferee of
such Employee Securities as the owner of such securities for any purpose. 
  
 (b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein, and to the fullest extent permitted by law a suitable and equitable provision will be substituted therefor
in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. 
  
 (c) Complete Agreement. This Agreement, the Joinders and the Joinder Agreements embody the complete agreement and understanding
among the parties hereto with respect to the subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, that may have related to the subject matter hereof in any
way. 
  
 (d) Counterparts. This Agreement
may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
  
 (e) Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be
enforceable by the LLC and its successors and assigns and the Employee and any subsequent holders of Employee Securities and the respective successors and assigns of each of them, so long as they hold Employee Securities; provided, that the
rights and obligations of the Employee under this Agreement shall not be assignable except in connection with a transfer of Employee Securities that is permitted hereunder and under the Joinder Agreements. 
  

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 (f) Governing Law. All questions concerning the construction, validity and
interpretation of this Agreement and the exhibits hereto will be governed by and construed in accordance with the domestic laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York; provided, that any questions requiring interpretation of the laws governing limited liability
companies shall be governed by the Delaware Limited Liability Company Act. 
  
 (g) Jurisdiction and Venue. ALL JUDICIAL PROCEEDINGS BROUGHT BY OR AGAINST THE LLC OR THE EMPLOYEE WITH RESPECT TO THIS AGREEMENT, ANY OTHER AGREEMENT CONTEMPLATED HEREBY OR ANY TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY SHALL BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE OF DELAWARE OR IN THE CITY OF NEW YORK IN THE STATE OF NEW YORK. BY EXECUTION AND DELIVERY OF THIS AGREEMENT, THE LLC AND THE EMPLOYEE ACCEPT FOR ITSELF
AND HIMSELF AND IN CONNECTION WITH ITS OR HIS RESPECTIVE PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS, AND IRREVOCABLY AGREE TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS
AGREEMENT. THE LLC AND THE EMPLOYEE HEREBY WAIVE ANY CLAIM THAT SUCH JURISDICTION IS AN INCONVENIENT FORUM OR AN IMPROPER FORUM BASED ON LACK OF VENUE. 
  
 (h) Waiver of Jury Trial. THE LLC AND THE EMPLOYEE HEREBY WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY
LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR THE VALIDITY, PROTECTION, INTERPRETATION OR ENFORCEMENT THEREOF. THE LLC AND THE EMPLOYEE AGREE THAT THIS SECTION IS A SPECIFIC AND MATERIAL ASPECT OF
THIS AGREEMENT AND WOULD NOT ENTER INTO THIS AGREEMENT IF THIS SECTION WERE NOT PART OF THIS AGREEMENT. 
  
 (i) Remedies. Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to
recover damages and costs (including, without limitation, reasonable attorneys’ fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree and acknowledge that
money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for
specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement. 
  
 (j) Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any party
in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby indefinitely. 
  
 (k) Amendment and Waiver. The terms and provisions of this Agreement (including the Schedules, Exhibits and Appendices hereto) may
be modified or amended (and any term or provision may be waived) at any time and from time to time with the written consent of the Company and the Employee; provided, that the Company may at any time and from time to time modify, amend or
waive any term or provision of this Agreement (including the Schedules, Exhibits and Appendices hereto) without the consent of the Employee (or any other Person) so long as such modification, amendment or waiver does not materially and adversely
affect the Employee. 
  
 (l) Third-Party
Beneficiaries. Certain provisions of this Agreement are entered into for the benefit of and shall be enforceable by the Investor Unitholders (as defined under the Unitholders Agreement). 
  
 (m) Descriptive Headings. The descriptive headings of
this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 
  

 10 

 (n) Inconsistency Between Agreement and Either Joinder Agreement. If there is any
inconsistency between this Agreement, on the one hand, and either Joinder Agreement, on the other hand, then the relevant provisions of the applicable Joinder Agreement shall govern to the extent of such inconsistency, except that the provisions of
Section 4 of this Agreement and the provisions of Appendix I attached to this Agreement shall in any event govern. 
  
 *    *    *    *    * 
  

 11 

 IN WITNESS WHEREOF, the parties hereto have executed this Employee Subscription Agreement as of the date
first written above. 
  

			
	 MORTON’S HOLDINGS, LLC

		
	 By:
	 	  

	 Name:
	 	 [NAME]

	 Title:
	 	 [TITLE] 

			
		
	 Sign:
	 	  

	 Print Name:  [NAME]

	 Address:        [ADDRESS1]

	                       [ADDRESS2]

	
	 Social Security Number: [SS#]

  

 12Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  

This Employment Agreement (“Agreement”) is made and entered into on this 9th day of January, 2006, effective as of the date set forth in paragraph 2.1 below, and is by and between Datrek Miller International, Inc., a Florida
corporation (the “Company”), and Randall J. Frapart (hereinafter called the “Executive”). 
  
 R E C I T A L S 
  
 The Executive possesses knowledge and skills which the Company believes will be of substantial benefit to its operations and success, and the Company desires to employ the Executive on the terms and conditions set
forth below. 
  
 The Executive is willing to make his services
available to the Company on the terms and conditions set forth below. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in
consideration of the premises and mutual covenants set forth herein, the parties agree as follows: 
  
 1. Employment. 
  
 1.1 Employment and Term. The Company hereby agrees to employ the Executive and the Executive hereby agrees to serve the Company on the terms and
conditions set forth herein. 
  
 1.2 Duties of Executive.
During the Term of Employment under this Agreement, the Executive shall serve as an Executive Vice President and Chief Financial Officer of the Company. The Executive shall diligently perform all services as may be assigned to him by the Board of
Directors of the Company (the “Board”), and shall exercise such power and authority as may from time to time be delegated to him by the Board. The Executive shall devote his full time and attention to the business and affairs of the
Company, render such services to the best of his ability, and use his best efforts to promote the interests of the Company. The Executive shall render such services at the Company’s location at 835 Bill Jones Industrial Drive, Springfield,
Tennessee 37172, or at another suitable location selected by the Company in Davidson County, Tennessee. The Executive shall relocate to the Company’s Springfield, Tennessee location within eight months of the Commencement Date. It shall not be
a violation of this Agreement for the Executive to (i) serve on corporate, civic or charitable boards or committees, (ii) deliver lectures, fulfill speaking engagements or teach at educational institutions, or (iii) manage personal investments, so
long as such activities do not significantly interfere with the performance of the Executive’s responsibilities to the Company in accordance with this Agreement. 
  

 2. Term. 
  

2.1 Initial Term. The initial Term of Employment under this Agreement, and the employment of the Executive hereunder, shall commence on the date
hereof (the “Commencement Date”) and shall expire on the four (4) year anniversary of the Commencement Date, unless sooner terminated in accordance with Section 5 hereof (the “Initial Term”). 
  
 2.2 Renewal Terms. At the end of the Initial Term, the Term of
Employment automatically shall renew for successive one year terms (subject to earlier termination as provided in Section 5 hereof), unless the Company or the Executive delivers written notice to the other at least 30 calendar days prior to the
Expiration Date of its or his election not to renew the Term of Employment. 
  
 2.3 Term of Employment and Expiration Date. The period during which the Executive shall be employed by the Company pursuant to the terms of this Agreement is sometimes referred to in this Agreement as the
“Term of Employment,” and the date on which the Term of Employment shall expire (including the date on which any renewal term shall expire), is sometimes referred to in this Agreement as the “Expiration Date.” 
  
 3. Compensation. 
  
 3.1 Base Salary. The Executive shall receive a base salary at the
annual rate of $180,000.00 (the “Base Salary”) during the Term of Employment, with such Base Salary payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes. The
Base Salary shall be reviewed, at least annually, for merit increases and may, by action and in the sole discretion of the Board, be increased at any time or from time to time. 
  
 3.2 Bonuses. During the Term of Employment, the Executive shall be eligible to receive bonuses pursuant to any
management bonus program of the Company then in effect in such amounts and at such times as the Board (or the Compensation Committee thereof) shall determine in its sole discretion pursuant to the terms of the program. If at any time during the Term
of Employment the Executive is terminated without cause or as a result of disability of the Executive pursuant to the terms hereof or in the event of the death of the Executive, then the Executive shall be entitled to receive a pro-rata portion of
the bonus, if any, which accrued during the applicable year in which said termination occurs. The amount of any such bonus, assuming the Executive’s achievement of applicable milestones, shall be based primarily upon the overall performance of
the Company. Subject to the approval of the Compensation Committee, the bonus potential for the Chief Financial Officer position is anticipated to be an amount up to 30% of the Base Salary. 
  
 4. Expense Reimbursement and Other Benefits. 
  
 4.1 Reimbursement of Expenses. Upon the submission of proper
substantiation by the Executive, and subject to such rules and guidelines as the Company may from time to time adopt, the Company shall reimburse the Executive for all reasonable expenses actually paid or incurred by 
  

 the Executive during the Term of Employment in the course of and pursuant to the business of the Company. The Executive
shall account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the Company copies of all relevant invoices, receipts or other evidence reasonably requested by the Company. This reimbursement shall
cover, among other things, the cost of Executive’s cellular telephone use in connection with his Employment hereunder. 
  
 4.2 Compensation/Benefit Programs. During the term of Employment, the Executive shall be entitled to participate in all medical, dental,
hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executives and/or key employees, including savings, pension,
profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans. 
  
 4.3 Working Facilities. During the Term of Employment, the Company shall furnish the Executive with an office, secretarial help and such other
facilities and services suitable to his position and adequate for the performance of his duties hereunder. In addition, the Company shall provide the Executive with a laptop computer for use in connection with his Employment hereunder. 

 
 4.4 Stock Options. During the Term of Employment, the Executive
shall be eligible to be granted options (the “Stock Options”) to purchase common stock (the “Common Stock”) of the Company under (and therefore subject to all terms and conditions of) the Company’s 2005 Stock Option Plan, as
may be amended from time-to-time, and any successor plan thereto (the “Stock Option Plan”) and all rules of regulation of the Securities and Exchange Commission applicable to stock option plans then in effect. The number of Stock Options
and terms and conditions of the Stock Options shall be determined by the Committee appointed pursuant to the Stock Option Plan, or by the Board, in its sole discretion and pursuant to the Stock Option Plan. The Company, subject to approval of the
Board, shall issue to the Executive 50,000 Stock Options, vesting  1/3,  1/3, and  1/3 per year commencing on the first anniversary of the Commencement Date. 
  
 4.5 Relocation Allowance. The Executive shall be entitled to receive the following in connection with his relocation from Chicago, Illinois to
Springfield, Tennessee: (i) all documented realtor fees and closing costs associated with the sale of his existing home in Chicago and the purchase of his new home in Tennessee (provided the purchase of such new home is consummated within one year
from the Commencement Date); (ii) reasonable commuting and lodging expenses for a period not to exceed six months from the Commencement Date; (iii) reasonable moving expenses related to packing personal property and automobiles (if automobile is
driven to Tennessee at the completion of the relocation, expense to be reimbursed at rate of $0.405 per mile); and (iv) an allowance to compensate the Executive for travel, meals and lodging expenses incurred while Executive searches for a new home
and other miscellaneous expenses associated with his relocation (such amount to be payable upon completion of the Executive’s relocation to Springfield). The realtor fees and closing costs and allowance described in (i) and (iv) above, shall
not exceed $40,000. All other expenses associated with the Executive’s relocation not described above shall be the sole responsibility of the Executive. The Executive shall account to the Company in writing for all such relocation expenses for
which reimbursement is sought and shall supply to the Company copies of all relevant invoices, receipts or other evidence reasonably requested by the Company. 
  

 4.6 Other Benefits. The Executive shall be entitled to three weeks of vacation each calendar year
during the Term of Employment, to be taken at such times as the Executive and the Company shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by the Executive hereunder. Any vacation
time not taken by Executive during any calendar year may not be carried forward into any succeeding calendar year. The Executive shall receive such additional benefits, if any, as the Board of the Company shall from time to time determine.

  
 5. Termination. 
  
 5.1 Termination for Cause. The Company shall at all times have the
right, upon written notice to the Executive, to terminate the Term of Employment, for Cause. For purposes of this Agreement, the term “Cause” shall mean (i) an action or omission of the Executive which constitutes a willful and material
breach of, or failure or refusal (other than by reason of his disability) to perform his duties under, this Agreement which is not cured within fifteen (15) calendar days after receipt by the Executive of written notice of same, (ii) fraud,
embezzlement, misappropriation of funds or breach of trust in connection with his services hereunder, (iii) indictment or other formal charge by any governmental authority of a felony or any other crime which involves dishonesty or a breach of
trust, or (iv) gross negligence in connection with the performance of the Executive’s duties hereunder, which is not cured within fifteen (15) calendar days after written receipt by the Executive of written notice of same. Any termination for
Cause shall be made in writing to the Executive, which notice shall set forth in detail all acts or omissions upon which the Company is relying for such termination. The Executive (together with legal counsel of his choice) shall have the right to
address the Board regarding the acts set forth in the notice of termination. Upon any termination pursuant to this Section 5.1, the Company shall only be obligated to pay to the Executive his Base Salary to the date of termination. The Company shall
have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination), subject, however, to the provisions of Section 4.1. 
  
 5.2 Disability. The Company shall at all times have the right, upon
written notice to the Executive, to terminate the Term of Employment, if the Executive shall become entitled to benefits under the Company’s group disability policy or any individual disability policy then in effect, or, if the Executive shall
as the result of mental or physical incapacity, illness or disability, become unable to perform his obligations hereunder for a period of 90 days in any 12-month period. The Company shall have sole discretion based upon competent medical advice to
determine whether the Executive continues to be disabled. Upon any termination pursuant to this Section 5.2, the Company shall (i) pay to the Executive any unpaid Base Salary through the effective date of termination specified in such notice, (ii)
pay to the Executive a severance payment equal to six months of the Executive’s Base Salary at the time of the termination of the Executive’s employment with the Company, (iii) any bonus due under Section 3.2, above, and (iv) continue to
provide the Executive with the Benefits (as defined below) for such six-month period. The Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination,
subject, however to the provisions of Section 4.1). 
  

 5.3 Death. Upon the death of the Executive during the Term of Employment, the Company shall pay to
the estate of the deceased Executive any unpaid Base Salary through the Executive’s date of death and any bonus due under Section 3.2, above. The Company shall have no further liability hereunder (other than for reimbursement for reasonable
business expenses incurred prior to the date of the Executive’s death), subject, however to the provisions of Section 4.1. 
  
 5.4 Termination Without Cause. At any time the Company shall have the right to terminate the Term of Employment by written notice to the Executive.
Upon any termination pursuant to this Section 5.4 (that is not a termination under any of Sections 5.1, 5.2, 5.3, or 5.5), the Company shall (i) pay to the Executive any unpaid Base Salary through the effective date of termination specified in such
notice, (ii) continue to pay the Executive’s Base Salary for a period of twelve (12) months from notice of termination hereunder payable in installments consistent with the Company’s normal payroll schedule, subject to applicable
withholding and other taxes (the “Continuation Period”), (iii) continue to provide the Executive with the benefits he was receiving under Sections 4.2 and 4.4 hereof (the “Benefits”) through the end of the Continuation Period in
the manner and at such times as the Benefits otherwise would have been payable or provided to the Executive. In the event that the Company is unable to provide the Executive with any Benefits required hereunder by reason of the termination of the
Executive’s employment pursuant to this Section 5.4, then the Company shall pay the Executive cash equal to the value of the Benefit that otherwise would have accrued for the Executive’s benefit under the plan, for the period during which
such Benefits could not be provided under the plans. The Company’s good faith determination of the amount that would have been contributed or the value of any Benefits that would have accrued under any plan shall be binding and conclusive on
the Executive. For this purpose, the Company may use as the value of any Benefit the cost to the Company of providing that Benefit to the Executive. The Company shall have no further liability hereunder (other than for (x) reimbursement for
reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 4.1, and (y) payment of compensation for unused vacation days that have accumulated during the calendar year in which such
termination occurs). For all purposes under this Agreement, the failure by Company to offer to renew the Agreement following the expiration of the Initial Term or any Renewal Term on the same terms and conditions hereunder shall not be treated as if
the Company terminated this Agreement pursuant to this Section 5.4. 
  
 5.5 Termination by Executive. 
  
 (a) The
Executive shall at all times have the right, upon 30 calendar days written notice to the Company, to terminate the Term of Employment. 
  
 (b) Upon termination of the Term of Employment pursuant to this Section 5.5, the Company shall pay to the Executive any unpaid Base Salary through the
effective date of termination specified in such notice. The Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the
provisions of Section 4.1. At the Company’s sole option, upon receipt of notice from the Executive pursuant to this Section, the Company may immediately terminate the Term of Employment, in which case, in addition to the covenants set forth
above, the Company shall pay the Executive 30 days of Base Salary. For all purposes under this Agreement, the failure by Executive to offer to renew the Agreement following the expiration of the Initial Term or any 
  

 Renewal Term on the same terms and conditions hereunder shall be treated as if the Executive terminated this Agreement
pursuant to this Section 5.5, except that the Executive shall not be entitled to any Base Salary in excess of that which is due through the last day of Executive’s employment hereunder. 
  
 5.6 Change in Control of the Company. 
  
 (a) In the event that a Change in Control (as defined in paragraph (b) of
this Section 5.6) in the Company shall occur during the Term of Employment, the Company shall (i) pay to the Executive any unpaid Base Salary through the effective date of termination, (ii) continue to pay the Executive’s Base Salary for a
period of 12 months payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes. Further, upon the Change in Control, the Executive’s Stock Options shall immediately
vest. The Company shall have no further liability hereunder (other than for (1) reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 4.1, and (2) payment of
compensation for unused vacation days that have accumulated during the calendar year in which such termination occurs). 
  
 (b) For purposes of this Agreement, the term “Change in Control” shall mean approval by the shareholders of the Company of (x) a
reorganization, merger, consolidation or other form of corporate transaction or series of transactions, in each case, with respect to which persons who were the shareholders of the Company immediately prior to such reorganization, merger or
consolidation or other transaction do not, immediately thereafter, own more than 50% of the combined voting power entitled to vote generally in the election of directors of the reorganized, merged or consolidated company’s then outstanding
voting securities, in substantially the same proportions as their ownership immediately prior to such reorganization, merger, consolidation or other transaction, or (y) a liquidation or dissolution of the Company or (z) the sale of all or
substantially all of the assets of the Company (unless such reorganization, merger, consolidation or other corporate transaction, liquidation, dissolution or sale is subsequently abandoned). 
  
 5.7 Resignation. Upon any notice or termination of employment pursuant
to this Article 5, the Executive shall automatically and without further action be deemed to have resigned as an officer, and if he was then serving as a director of the Company, as a director, and if required by the Board, the Executive hereby
agrees to immediately execute a resignation letter to the Board. 
  
 5.8 Survival. The provisions of this Article 5 shall survive the termination of this Agreement, as applicable. 
  
 6. Restrictive Covenants. 
  
 6.1 Non-competition. At all times while the Executive is employed by the Company and for a one (1) year period after the termination of the
Executive’s employment with the Company for any reason, the Executive shall not, directly or indirectly, engage in or have any interest in any sole proprietorship, partnership, corporation or business or any other person or entity (whether as
an employee, officer, director, partner, agent, security holder, creditor, consultant or otherwise) that directly or indirectly (or through any affiliated entity) engages in competition with the Company 

 (based on the business in which the Company was engaged or was actively planning on being engaged as of the date of
termination of the Employee’s employment and in the geographic areas in which the Company operated or was actively planning on operating as of date of termination of the Employee’s employment); provided that such provision shall not apply
to the Executive’s ownership of: Common Stock of the Company or the acquisition by the Executive, solely as an investment, of securities of any issuer that is registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as
amended, and that are listed or admitted for trading on any United States national securities exchange or that are quoted on the National Association of Securities Dealers Automated Quotations System, or any similar system or automated dissemination
of quotations of securities prices in common use, so long as the Executive does not control, acquire a controlling interest in or become a member of a group which exercises direct or indirect control or, more than five percent of any class of
capital stock of such corporation. 
  
 6.2 Nondisclosure.
The Executive shall not at any time divulge, communicate, use to the detriment of the Company or for the benefit of any other person or persons, or misuse in any way, any Confidential Information (as hereinafter defined) pertaining to the business
of the Company. Any Confidential Information or data now or hereafter acquired by the Executive with respect to the business of the Company (which shall include, but not be limited to, information concerning the Company’s financial condition,
prospects, technology, customers, suppliers, sources of leads and methods of doing business) shall be deemed a valuable, special and unique asset of the Company that is received by the Executive in confidence and as a fiduciary, and Executive shall
remain a fiduciary to the Company with respect to all of such information. For purposes of this Agreement, “Confidential Information” means information disclosed to the Executive or known by the Executive as a consequence of or through his
employment by the Company (including information conceived, originated, discovered or developed by the Executive) prior to or after the date hereof, and not generally known, about the Company or its business. Notwithstanding the foregoing, nothing
herein shall be deemed to restrict the Executive from disclosing Confidential Information to the extent required by law. 
  
 6.3 Nonsolicitation of Employees and Clients. At all times while the Executive is employed by the Company and for a one (1) year period after the
termination of the Executive’s employment with the Company for any reason, the Executive shall not, directly or indirectly, for himself or for any other person, firm, corporation, partnership, association or other entity (a) employ or attempt
to employ or enter into any contractual arrangement with any employee or former employee of the Company, unless such employee or former employee has not been employed by the Company for a period in excess of six months, and/or (b) call on or solicit
any of the actual or targeted prospective clients of the Company on behalf of any person or entity in connection with any business competitive with the business of the Company, nor shall the Executive make known the names and addresses of such
clients or any information relating in any manner to the Company’s trade or business relationships with such customers, other than in connection with the performance of Executive’s duties under this Agreement. 
  
 6.4 Ownership of Developments. All copyrights, patents, trade secrets,
or other intellectual property rights associated with any ideas, concepts, techniques, inventions, processes, or works of authorship developed or created by Executive during the course of performing work for the 

 Company or its clients (collectively, the “Work Product”) shall belong exclusively to the Company and shall, to
the extent possible, be considered a work made by the Executive for hire for the Company within the meaning of Title 17 of the United States Code. To the extent the Work Product may not be considered work made by the Executive for hire for the
Company, the Executive agrees to assign, and automatically assign at the time of creation of the Work Product, without any requirement of further consideration, any right, title, or interest the Executive may have in such Work Product. Upon the
request of the Company, the Executive shall take such further actions, including execution and delivery of instruments of conveyance, as may be appropriate to give full and proper effect to such assignment. 
  
 6.5 Books and Records. All books, records, and accounts relating in
any manner to the customers or clients of the Company, whether prepared by the Executive or otherwise coming into the Executive’s possession, shall be the exclusive property of the Company and shall be returned immediately to the Company on
termination of the Executive’s employment hereunder or on the Company’s request at any time. 
  
 6.6 Definition of Company. Solely for purposes of this Article 6, the term “Company” also shall include any existing or future
subsidiaries of the Company that are operating during the time periods described herein and any other entities that directly or indirectly, through one or more intermediaries, control, are controlled by or are under common control with the Company
during the periods described herein. 
  
 6.7 Acknowledgment by
Executive. The Executive acknowledges and confirms that (a) the restrictive covenants contained in this Article 6 are reasonably necessary to protect the legitimate business interests of the Company, and (b) the restrictions contained in this
Article 6 (including without limitation the length of the term of the provisions of this Article 6) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges and
confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Article 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not
impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors.
The Executive acknowledges and confirms that his special knowledge of the business of the Company is such as would cause the Company serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to
compete with the Company in violation of the terms of this Article 6. The Executive further acknowledges that the restrictions contained in this Article 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the
Company’s successors and assigns. 
  
 6.8 Reformation by
Court. In the event that a court of competent jurisdiction shall determine that any provision of this Article 6 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of this
Article 6 within the jurisdiction of such court, such provision shall be interpreted and enforced as if it provided for the maximum restriction permitted under such governing law. 

 6.9 Extension of Time. If the Executive shall be in violation of any provision of this Article 6,
then each time limitation set forth in this Article 6 shall be extended for a period of time equal to the period of time during which such violation or violations occur. If the Company seeks injunctive relief from such violation in any court, then
the covenants set forth in this Article 6 shall be extended for a period of time equal to the pendency of such proceeding including all appeals by the Executive. 
  
 6.10 Survival. The provisions of this Article 6 shall survive the termination of this Agreement, as applicable.

  
 7. Injunction. It is recognized and hereby acknowledged
by the parties hereto that a breach by the Executive of any of the covenants contained in Article 6 of this Agreement will cause irreparable harm and damage to the Company, the monetary amount of which may be virtually impossible to ascertain. As a
result, the Executive recognizes and hereby acknowledges that the Company shall be entitled to an injunction from any court of competent jurisdiction enjoining and restraining any violation of any or all of the covenants contained in Article 6 of
this Agreement by the Executive or any of his affiliates, associates, partners or agents, either directly or indirectly, and that such right to injunction shall be cumulative and in addition to whatever other remedies the Company may possess.

  
 8. Assignment. Neither party shall have the right to
assign or delegate his rights or obligations hereunder, or any portion thereof, to any other person. 
  
 9. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Tennessee. 
  
 10. Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings and arrangements, both oral and written, between the Executive and the Company (or any of its
affiliates) with respect to such subject matter. This Agreement may not be modified in any way unless by a written instrument signed by both the Company and the Executive. 
  
 11. Notices: All notices required or permitted to be given hereunder shall be in writing and shall be personally
delivered by courier, sent by registered or certified mail, return receipt requested or sent by confirmed facsimile transmission addressed as set forth herein. Notices personally delivered, sent by facsimile or sent by overnight courier shall be
deemed given on the date of delivery and notices mailed in accordance with the foregoing shall be deemed given upon the earlier of receipt by the addressee, as evidenced by the return receipt thereof, or three (3) days after deposit in the U.S.
mail. Notice shall be sent (i) if to the Company, addressed to 835 Bill Jones Industrial Drive, Springfield, Tennessee 37172, Attn: Chief Executive Officer, and (ii) if to the Executive, to his address as reflected on the payroll records of the
Company, or to such other address as either party hereto may from time to time give notice of to the other. 

 12. Benefits; Binding Effect. This Agreement shall be for the benefit of and binding upon the
parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable, assigns, including, without limitation, any successor to the Company, whether by merger, consolidation, sale of stock, sale
of assets or otherwise 
  
 13. Severability. The invalidity
of any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on
their being valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall be declared invalid, this Agreement shall be construed as if such invalid word or words, phrase
or phrases, sentence or sentences, clause or clauses, or section or sections had not been inserted. If such invalidity is caused by length of time or size of area, or both, the otherwise invalid provision will be considered to be reduced to a period
or area which would cure such invalidity. 
  
 14. Waivers.
The waiver by either party hereto of a breach or violation of any term or provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation. 
  
 15. Damages. Nothing contained herein shall be construed to prevent the Company or the Executive from seeking and
recovering from the other damages sustained by either or both of them as a result of its or his breach of any term or provision of this Agreement. In the event that either party hereto brings suit for the collection of any damages resulting from, or
the injunction of any action constituting, a breach of any of the terms or provisions of this Agreement, then the party found to be at fault shall pay all reasonable court costs and attorneys’ fees of the other. 
  
 16. Section Headings. The section headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
  
 17. No Third Party Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any
person other than the Company, the parties hereto and their respective heirs, personal representatives, legal representatives, successors and assigns, any rights or remedies under or by reason of this Agreement. 
  
 18. Arbitration. Notwithstanding anything to the contrary in this
Agreement, all claims or disputes relating in any way to the performance, interpretation, validity, or breach of this Agreement (with the exception of the provisions providing for injunctive relief) shall be referred to final and binding
arbitration, before a neutral arbitrator mutually agreeable to the parties, under the commercial arbitration rules of the American Arbitration Association (the “AAA”), except as otherwise modified herein, held in Davidson County,
Tennessee. Upon presentation of a demand for arbitration, the parties shall attempt to select a mutually-agreeable arbitrator within 20 days. In the event that the parties are unable to agree upon an arbitrator, the AAA shall appoint an arbitrator
from its panel of commercial arbitrators. The arbitrator’s award shall be in writing and include findings of fact and conclusions of law. Judgment upon the award rendered by the arbitrators shall be final, binding and conclusive upon the
parties and their respective administrators, executors, legal representatives, heirs, successors and permitted assigns. 

 The arbitrator shall have the power to award (i) monetary damages, (ii) injunctive relief (preliminary
and permanent), and (iii) legal fees and costs associated with the arbitration to the prevailing party. Any party against whom the arbitrators’ award shall be issued shall not, in any manner, oppose or defend against any suit to confirm such
award, or any enforcement proceedings brought against such party with respect to any judgment entered upon the award, and such party hereby consents to the entry of a judgment against such party, in the full amount thereof, or other relief granted
therein, in any court of competent jurisdiction in which such enforcement is sought. The party against whom the arbitrator’s award is issued shall pay the arbitrator’s fees and each of the parties hereto hereby consent to the jurisdiction
of any applicable court of general jurisdiction located in the Davidson County, Tennessee with respect to the entry of such judgment and each irrevocably submits to the jurisdiction of such courts and waives any objection it may have to either the
jurisdiction of venue of such court. 
  
 19. WAIVER OF JURY
TRIAL. EACH OF THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION HEREWITH, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE COMPANY ENTERING INTO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 
  
 [Signatures Begin on Following Page] 

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

  

			
	COMPANY:
	
	Datrek Miller International, Inc.
		
	By:	 	 /s/ Michael S. Hedge

	 	 	Michael S. Hedge
	 	 	Chief Executive Officer
	
	EXECUTIVE:
		
	 	 	 /s/ Randall J. Frapart

	 	 	Randall J. Frapart

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