Document:

Exhibit 10.1

 

OMNIBUS AMENDMENT NO. 1 AND CONSENT

 

to

 

CREDIT AGREEMENT
 and
 GUARANTY

 

Dated as of November 1, 2013

 

THIS AMENDMENT NO. 1 AND CONSENT (this “Amendment”) is made as of November 1, 2013 by and among Texas Roadhouse, Inc. (the “Borrower”), the financial institutions identified on the signature pages hereof as Lenders (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), under that certain Credit Agreement dated as of August 12, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among the Borrower, the Lenders and the Administrative Agent, and the subsidiaries of the Borrower identified on the signature pages hereof as Guarantors (the “Guarantors”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.

 

WHEREAS, the Borrower has notified the Administrative Agent that the Borrower wishes to undertake a number of related transactions, as outlined in Exhibit A attached hereto, in connection with the restructuring of the organization of its Subsidiaries (all the steps outlined in Exhibit A hereto being referred to herein as the “Proposed Transactions”), and the Borrower has requested that the Lenders and the Administrative Agent consent (the “Specified Consent”) to the Proposed Transactions;

 

WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent agree to certain amendments with respect to the Credit Agreement and the Guaranty;

 

WHEREAS, the Lenders and the Administrative Agent have agreed to such amendments and to grant the Specified Consent on the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders and the Administrative Agent have agreed to enter into this Amendment.

 

1.                                      Amendments to Credit Agreement.  Effective as of the date of satisfaction of the conditions precedent set forth in Section 4 below, the Credit Agreement is hereby amended as follows:

 

(a)                                 Section 1.01 of the Credit Agreement is amended to add the following definitions in their appropriate alphabetical order therein:

 

“ “Amendment No. 1 Effective Date” means November 1, 2013.”

 

“ “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption.”

 

 “ “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.”

 

“ “ECP” means an “eligible contract participant” as defined in Section 1(a)(18) of the Commodity Exchange Act or any regulations promulgated thereunder and the applicable rules issued by the Commodity Futures Trading Commission and/or the SEC.”

 

“ “Excluded Swap Obligation” means, with respect to any Loan Party, any Specified Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Loan Party of such Specified Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (a) by virtue of such Loan Party’s failure for any reason to constitute an ECP at the time the Guarantee of such Loan Party or the grant of such security interest becomes or would become effective with respect to such Specified Swap Obligation or (b) in the case of a Specified Swap Obligation subject to a clearing requirement pursuant to Section 2(h) of the Commodity Exchange Act (or any successor provision thereto), because such Loan Party is a “financial entity,” as defined in Section 2(h)(7)(C)(i) of the Commodity Exchange Act (or any successor provision thereto), at the time the Guarantee of such Loan Party becomes or would become effective with respect to such related Specified Swap Obligation.

 

 

If a Specified Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Specified Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal.”

 

“ “Impacted Interest Period” has the meaning assigned to such term in the definition of “Eurodollar Rate”.”

 

 “ “Interpolated Rate” means, at any time, the rate per annum determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBOR Screen Rate for the longest period (for which the LIBOR Screen Rate is available) that is shorter than the Impacted Interest Period and (b) the LIBOR Screen Rate for the shortest period (for which the LIBOR Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time.”

 

“ “LIBOR Screen Rate” has the meaning assigned to such term in the definition of “Eurodollar Rate”.”

 

 “ “Material Subsidiary” means each Subsidiary which, as of the most recent fiscal quarter of the Borrower, for the period of four consecutive fiscal quarters then ended, for which financial statements have been delivered pursuant to Section 6.01(a) or (b), contributed greater than two and one-half percent (2.5%) of Consolidated Tangible Net Worth as of such date; provided that, if at any time the aggregate amount of Consolidated Tangible Net Worth attributable to all Subsidiaries that are not Material Subsidiaries exceeds five (5%) of Consolidated Tangible Net Worth for any such period, the Borrower (or, in the event the Borrower has failed to do so within ten (10) days, the Administrative Agent) shall designate sufficient Subsidiaries as “Material Subsidiaries” to eliminate such excess, and such designated Subsidiaries shall for all purposes of this Agreement constitute Material Subsidiaries.”

 

“ “Proposed Transactions” has the meaning set forth in that certain Omnibus Amendment No. 1 and Consent to Credit Agreement and Guaranty, dated as of the Amendment No. 1 Effective Date, among the Borrower, the Lenders party thereto and the Administrative Agent.”

 

“ “Sanctioned Country” means, at any time, a country or territory which is the subject or target of any Sanctions.”

 

“ “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person.”

 

 “ “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.”

 

“ “Specified Swap Obligation” means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder.”

 

 

(b)                                 Section 1.01 of the Credit Agreement is amended to amend and restate the following definitions in their entirety as follows:

 

“ “Applicable Rate” means the following percentages per annum, based upon the Consolidated Net Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b):

 

Applicable Rate

 

	
Pricing
   Level
    	
 
    	
Consolidated Net Leverage Ratio
    	
 
    	
Commitment
   Fee
    	
 
    	
Eurodollar Rate
   Loans/ Standby
   Letters of Credit
   Fee
    	
 
    	
ABR Loans
    	
 
    
	
1
    	
 
    	
Less than 1.25   to 1.00
    	
 
    	
0.125
    	
%
    	
0.875
    	
%
    	
0.0
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2
    	
 
    	
Less than 1.50   to 1.00 but greater than or equal to 1.25 to 1.00
    	
 
    	
0.150
    	
%
    	
1.00
    	
%
    	
0.0
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3
    	
 
    	
Less than 2.00   to 1.00 but greater than or equal to 1.50 to 1.00
    	
 
    	
0.200
    	
%
    	
1.25
    	
%
    	
0.25
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4
    	
 
    	
Less than 2.50   to 1.00 but greater than or equal to 2.00 to 1.00
    	
 
    	
0.250
    	
%
    	
1.50
    	
%
    	
0.50
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5
    	
 
    	
Greater than or   equal to 2.50 to 1.00
    	
 
    	
0.300
    	
%
    	
1.875
    	
%
    	
0.875
    	
%
    

 

Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Net Leverage Ratio shall become effective as of the fifth Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level 5 shall apply as of the fifth Business Day after the date on which such Compliance Certificate was required to have been delivered until the fifth Business Day after such Compliance Certificate is actually delivered.”

 

“ “Eurodollar Rate” means, with respect to any Eurodollar Rate Loan for any Interest Period, the London interbank offered rate as administered by the British Bankers Association (or any other Person that takes over the administration of such rate for Dollars) for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; in each case the “LIBOR Screen Rate”) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that, if the LIBOR Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”), then the LIBO Rate shall be the Interpolated Rate at such time, subject to Section 3.03.  Notwithstanding the above, to the extent that “Eurodollar Rate” or “Adjusted Eurodollar Rate” is used in connection with an ABR Borrowing, such rate shall be determined as modified by the definition of Alternate Base Rate.”

 

“ “Guarantors” means, collectively, subject to Section 6.15, all Subsidiaries party to the Guaranty in such capacity, and all existing and future direct and indirect wholly-owned Domestic Subsidiaries of the Borrower that are Material Subsidiaries, other than IP Holdco.”

 

“ “Maturity Date” means November 1, 2018.”

 

“ “Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding and (b) all existing or future payments and other obligations owing by the Borrower under (i) any Swap Contract (which such Swap Contract is permitted hereunder) or any (ii) cash management or similar treasury or custodial arrangements, in each case with respect to the foregoing clauses (i) and (ii) such transaction entered into with any Person that is a Lender or an Affiliate thereof at the time such transaction is entered into; provided that the definition of “Obligations” shall not create any guarantee by any Loan Party of any Excluded Swap Obligations of such Loan Party for purposes of determining any obligations of any Loan Party.”

 

 

“ “Restaurant” means any restaurant at a particular location that is owned by the Borrower or any Subsidiaries thereof.”

 

(c)                                  Section 1.03(a) of the Credit Agreement is amended to amend and restate clause (ii) of the second sentence thereof in its entirety as follows:

 

“(ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof”.

 

(d)                                 Section 2.14(a) of the Credit Agreement is amended to delete the reference to “$100,000,000” set forth therein and to substitute “$200,000,000” therefor.

 

(e)                                  Section 3.03 of the Credit Agreement is amended to amend and restate clause (b) of the first sentence thereof in its entirety as follows:

 

“(b) adequate and reasonable means (including, without limitation, by means of an Interpolated Rate) do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan”.

 

(f)                                   Section 3.04(b) of the Credit Agreement is amended and restated in its entirety as follows:

 

“(b)                           Capital Requirements.  If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.”

 

(g)                                  Section 5.19 of the Credit Agreement is amended and restated in its entirety as follows:

 

“5.19.  Anti-Corruption Laws and Sanctions.  The Borrower has implemented and maintains in effect policies and procedures designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers, and employees with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Subsidiaries and their respective officers and employees and to the current actual knowledge of the Borrower its directors, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.

 

 

None of (a) the Borrower, any Subsidiary or to the knowledge of the Borrower or such Subsidiary any of their respective directors, officers or employees, or (b) to the current actual knowledge of the Borrower, following reasonable inquiry, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. The Borrower will not knowingly violate or permit a violation of Anti-Corruption Laws or applicable Sanctions with any Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by the Credit Agreement.”

 

(h)                                 Section 6.05 of the Credit Agreement is amended and restated in its entirety as follows:

 

“6.05. Preservation of Existence. (a)  Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05 or as part of the Proposed Transactions; (b) take all reasonable action to maintain all rights, privileges, permits and licenses necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect.”

 

(i)                                     Section 6.08 of the Credit Agreement is amended to add the following sentence to the end of such Section:

 

“The Borrower will maintain in effect and enforce policies and procedures designed to promote compliance by the Borrower, its Subsidiaries and their respective directors, officers, and employees with Anti-Corruption Laws and applicable Sanctions.”

 

(j)                                    Section 6.15 of the Credit Agreement is amended and restated in its entirety as follows:

 

“On the first Business Day of each March and September following the Amendment No. 1 Effective Date (for example, March 3, 2014, September 1, 2014, March 2, 2015, September 1, 2015, etc.), notify the Administrative Agent of (x) any Person that became a Domestic Subsidiary and a direct or indirect wholly-owned Domestic Subsidiary of the Borrower during the six-month period then ended, and (y) any direct or indirect wholly-owned Domestic Subsidiary of the Borrower (including those described in clause (x) above) that is not a Guarantor and that is a Material Subsidiary, and, with respect to any Subsidiary that qualifies under the foregoing, cause such Person to promptly (and in any event within 90 days after the applicable reporting date) become a Guarantor. Such Person shall execute and deliver to the Administrative Agent a supplement or counterpart to the Guaranty and such other documents, instruments and agreements reasonably required by the Administrative Agent (including, but not limited to, certified organizational documents and resolutions, and a legal opinion letter), each in form, substance and scope reasonably acceptable to the Administrative Agent. To the extent any Guarantor is not or ceases to be a Material Subsidiary, the Borrower may provide written notice thereof to the Administrative Agent, including calculations demonstrating that such Guarantor is not a Material Subsidiary, and request that such Guarantor be released from its obligations as a Guarantor. The Administrative Agent shall effect any such release pursuant to Section 9.10.”

 

(k)                                 Section 7.02 of the Credit Agreement is amended to amend and restate clauses (k) and (l) thereof in their entirety as follows:

 

“(k)                           Investments of the Borrower in Joint Venture Subsidiaries made for the purpose of either owning, operating or managing a Restaurant; and

 

(l)                                     any other Investments (foreign or domestic, other than acquisitions governed by Section 7.02(g)) so long as the aggregate amount of all of such other Investments outstanding at any time does not exceed fifteen percent (15%) of Consolidated Tangible Net Worth; provided, that the amount of any Investment shall be reduced by all cash dividends, distributions or other payments in respect thereof received by the Borrower or a Guarantor.”

 

 

(l)                                     Section 7.05(d) of the Credit Agreement is amended and restated in its entirety as follows:

 

“(d)                           Dispositions of property by the Borrower or any Subsidiary to the Borrower or to a wholly-owned Subsidiary which has satisfied any relevant requirements of Section 6.15; provided that,  (x) except as otherwise permitted pursuant to the following clause (y), if the transferor of such property is a Guarantor the transferee thereof must either be the Borrower or a Guarantor, and (y) in the case of a Disposition of the Equity Interests of any Subsidiary that is not a Material Subsidiary, the transferee need not be the Borrower or a Guarantor, provided that if such Disposition is of the Equity Interests of a Guarantor, the Borrower shall either (1) cause the transferee to promptly (and in any event within 90 days after the applicable Disposition) become a Guarantor in accordance with the procedures set forth in Section 6.15, or (2) request a release of such Guarantor as described in Section 6.15.”

 

(m)                             Section 7.05 of the Credit Agreement is further amended to (i) renumber clause (i) thereof as clause (j), (ii) add the following new clause (i) immediately after clause (h) thereof, and (iii) restate clause (j) thereof in its entirety as follows:

 

“(i)                               Dispositions of the assets and IP Rights relating to any Restaurant concept, other than the Texas Roadhouse® operating concept, held by any Subsidiary that is not a Material Subsidiary; and

 

(j)                               other Dispositions of property by the Borrower and its Subsidiaries in the ordinary course of business or as otherwise permitted by the Required Lenders; provided, however, that any Disposition pursuant to clauses (a) through (j) shall be for fair market value.”

 

(n)                                 Section 7.12 of the Credit Agreement is amended to add the following sentence at the end of such Section:

 

“Not request any Borrowing or Letter of Credit, and not use, and shall instruct its Subsidiaries and its or their respective directors, officers, and employees not to use, the proceeds of any Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (C)  in any manner that would result in the violation of any Sanctions applicable to any party hereto.”

 

(o)                                 Section 9.10 of the Credit Agreement is amended to amend and restate the first sentence thereof in its entirety as follows:

 

“The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Material Subsidiary, or ceases to be a Subsidiary as a result of a transaction permitted hereunder.”

 

(p)                                 Schedule 2.01 to the Credit Agreement is amended and restated in its entirety as set forth on Exhibit B hereto.

 

(q)                                 Schedules 5.01, 5.06, 5.09, 5.11, 5.12, 5.13, 5.15, 5.18, 7.01 and 7.02 to the Credit Agreement are amended and restated in their entirety as set forth on Exhibit C hereto, and each reference in Section 5.01, 5.12, 5.13, 5.15, 7.01 or 7.02 to any such Schedule reflecting information as of “the Closing Date” or “the date hereof” shall be deleted and replaced with “the Amendment No. 1 Effective Date”.

 

(r)                                    Exhibit D to the Credit Agreement is amended and restated in its entirety as set forth on Exhibit D hereto.

 

(s)                                   Any reference to Aspen Creek, LLC shall include any successor entity thereto, as contemplated by the Proposed Transactions.

 

 

2.                                      Amendments to Guaranty.  Effective as of the date of satisfaction of the conditions precedent set forth in Section 4 below, the Guaranty is hereby amended as follows:

 

(a)                                 Section 8 of the Guaranty is amended and restated in its entirety as follows:

 

“8.                                Reinstatement.  Notwithstanding anything in this Guaranty to the contrary, this Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any portion of the Guaranteed Obligations is revoked, terminated, rescinded or reduced or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or any other person or entity or otherwise (including pursuant to any settlement entered into by the Administrative Agent or any Lender in its discretion), as if such payment had not been made and whether or not the Administrative Agent or the Lenders are in possession of or has released this Guaranty and regardless of any prior revocation, rescission, termination or reduction.”

 

(b)                                 The following new Section 24 is hereby added to the Guaranty immediately after Section 23 thereof:

 

“24.                         Keepwell.  Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Guaranty in respect of Specified Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 24 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 24 or otherwise under this Guaranty voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount).  The obligations of each Qualified ECP Guarantor under this Section 24 shall remain in full force and effect until a discharge of such Qualified ECP Guarantor’s Guaranteed Obligations in accordance with the terms hereof and the other Loan Documents.  Each Qualified ECP Guarantor intends that this Section 24 constitute, and this Section 24 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.  As used herein, “Qualified ECP Guarantor” means, in respect of any Specified Swap Obligation, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes or would become effective with respect to such Specified Swap Obligation or such other Person as constitutes an ECP and can cause another Person to qualify as an ECP at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.”

 

(c)                                  Concurrently with the effectiveness of the amendments to the Credit Agreement set forth in Section 1 hereof, and in reliance on the information provided by the Borrower to the Administrative Agent demonstrating that each such entity is not a Material Subsidiary, each Guarantor other than Texas Roadhouse Holdings LLC and Aspen Creek, LLC is automatically released from its obligations as a Guarantor under the Guaranty and shall automatically cease to be a Guarantor thereunder and under each of the other Loan Documents.

 

3.                                      Consent. Effective as of the date of satisfaction of the conditions precedent set forth in Section 4 below, the Administrative Agent and the Lenders party hereto hereby grant the Specified Consent.

 

4.                                      Conditions of Effectiveness.  The effectiveness of this Amendment is subject to the conditions precedent that (a) the Administrative Agent shall have received (i) counterparts of this Amendment duly executed by the Borrower, the Guarantors, the Lenders and the Administrative Agent, and (ii) such other opinions, instruments and documents as are reasonably requested by the Administrative Agent and identified on Exhibit E hereto, and (b) the Borrower shall have paid, to the extent invoiced at least one (1) Business Day in advance, all fees and expenses of the Administrative Agent and its affiliates (including attorneys’ fees and expenses) in connection with this Amendment and the other Loan Documents.

 

5.                                      Representations and Warranties of the Borrower.  The Borrower and each Guarantor hereby represents and warrants as follows:

 

 

(a)                                 Each of this Amendment and the Credit Agreement and Guaranty as amended by this Amendment constitute the legal, valid and binding obligations of the Borrower or such Guarantor, as applicable, and are enforceable against the Borrower or such Guarantor, as applicable, in accordance with their terms except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles of general applicability.

 

(b)                                 As of the date hereof and after giving effect to the terms of this Amendment, (i) there exists no Default or Event of Default and (ii) the representations and warranties of the Borrower and each Guarantor contained in the Credit Agreement or the Guaranty, as applicable, are true and correct as of the date hereof, except for representations and warranties made as of an earlier date (in which case such representations and warranties are true and correct as of such earlier date).

 

6.                                      Reference to and Effect on the Credit Agreement and the Guaranty.

 

(a)                                 Upon the effectiveness hereof, each reference to the Credit Agreement or “this Agreement” in the Credit Agreement or any other Loan Document or to the Guaranty or “this Guaranty” or “this Agreement” in the Guaranty or any other Loan Document (unless limited by reference to such Loan Document as in effect on a prior date) shall mean and be a reference to the Credit Agreement or Guaranty, as applicable, as amended by this Amendment.

 

(b)                                 Except as specifically amended above, the Credit Agreement, the Guaranty, and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.

 

(c)                                  Other than as expressly set forth herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Guaranty or any other documents, instruments and agreements executed and/or delivered in connection therewith.

 

7.                                      Governing Law.  This Amendment shall be construed in accordance with and governed by the laws of the State of New York.

 

8.                                      Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

 

9.                                      Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment.

 

[Signatures to follow]

 

 

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

 

	
 
    	
TEXAS ROADHOUSE, INC.,
    
	
 
    	
as the Borrower
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ G. Price   Cooper, IV
    
	
 
    	
Name: G. Price   Cooper, IV
    
	
 
    	
Title: Chief   Financial Officer
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
JPMORGAN CHASE BANK, N.A.,
    
	
 
    	
as   Administrative Agent and as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael A.   Guenthner
    
	
 
    	
Name:  Michael A. Guenthner
    
	
 
    	
Title: S.V.P.   Authorized Officer
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
PNC BANK, NATIONAL   ASSOCIATION, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gregory M.   Carroll
    
	
 
    	
Name: Gregory M.   Carroll
    
	
 
    	
Title: Senior   Vice President
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
WELLS FARGO BANK, NATIONAL   ASSOCIATION, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wm. Heyward   Harrison, III
    
	
 
    	
Name: Wm.   Heyward Harrison, III
    
	
 
    	
Title: Senior Vice   President
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
U.S. BANK NATIONAL   ASSOCIATION, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ David A.   Wombwell
    
	
 
    	
Name: David A.   Wombwell
    
	
 
    	
Title: Senior   Vice President
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
ROYAL BANK OF CANADA, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gordon   MacArthur
    
	
 
    	
Name: Gordon   MacArthur
    
	
 
    	
Title:   Authorized Signatory
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
FIFTH THIRD BANK, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mike Gifford
    
	
 
    	
Name: Mike   Gifford
    
	
 
    	
Title: Vice   President
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
OLD NATIONAL BANK, 
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Darrin J. McCauley
    
	
 
    	
Name: Darrin J.   McCauley
    
	
 
    	
Title: Senior   Vice President
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

	
 
    	
GUARANTORS:
    
	
 
    	
 
    
	
 
    	
TEXAS ROADHOUSE   HOLDINGS LLC
    
	
 
    	
 
    
	
 
    	
By:  Texas Roadhouse, Inc., its   Manager
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ G. Price   Cooper, IV
    
	
 
    	
Name: G. Price   Cooper, IV
    
	
 
    	
Title: Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ASPEN CREEK, LLC
    
	
 
    	
 
    
	
 
    	
By:  Texas Roadhouse, Inc., its   Manager
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ G. Price   Cooper, IV
    
	
 
    	
Name: G. Price   Cooper, IV
    
	
 
    	
Title: Chief   Financial Officer
    

 

Signature Page to

Omnibus Amendment No. 1 to Credit Agreement and Guaranty

(Texas Roadhouse, Inc.)

 

 

EXHIBIT A

 

Proposed Transactions

 

Attached

 

 

 

 

KEY TO PRECEDING PAGE: Any box shaded blue and outlined in red has moved from somewhere else in the structure prior to the Amendment No. 1 Effective Date, and any box shaded yellow and outlined in red is newly created.

 

Other Entities Where TXRH employees are officers but TXRH does not have any ownership:

 

	
1.
    	
Green Brothers   Dining Inc.  (TRI   manages through management agreement)
    

Dissolve and replace with C Corp subsidiary of Inc.

 

[S-Corps for roll-up purposes] Convert all to LLCs taxed as S Corps — sign management agreement with Holdings (eliminates officers and directors)

	
3.
    	
Roadhouse of Billings Holdings, Inc.   (member of Texas Roadhouse of Billings, LLC)
    
	
4.
    	
Roadhouse of Bossier City   Holdings, Inc. (member of Roadhouse of Bossier City, LLC)
    
	
5.
    	
Roadhouse of Brownsville   Holdings, Inc. (partner of Texas Roadhouse of Brownsville, Ltd.)
    
	
6.
    	
Roadhouse of Everett Holdings, Inc.   (member of Texas Roadhouse of Everett, LLC)
    
	
7.
    	
Roadhouse of Fargo Holdings, Inc.   (member of Roadhouse of Fargo, LLC)
    
	
8.
    	
Roadhouse of Longmont Holdings, Inc.   (member of Roadhouse of Longmont, LLC)
    
	
9.
    	
Roadhouse of McKinney Holdings, Inc.   (partner of Roadhouse of McKinney, Ltd.)
    
	
10.
    	
Roadhouse of New Berlin Holdings, Inc.   (member of Roadhouse of New Berlin, LLC)
    
	
11.
    	
Roadhouse of Omaha Holdings, Inc.   (member of Roadhouse of Omaha, LLC)
    
	
12.
    	
Roadhouse of Port Arthur   Holdings, Inc. (partner of Texas Roadhouse of Port Arthur, Ltd.)
    
	
13.
    	
Roadhouse of Temple Holdings, Inc.   (partner of Roadhouse of Temple, Ltd.)
    
	
14.
    	
Roadhouse of Wichita Holdings, Inc.   (member of Roadhouse of Wichita, LLC)
    

 

 

EXHIBIT B

 

Schedule 2.01

 

Commitments and Applicable Percentages

 

	
Lender
    	
 
    	
Commitment
    	
 
    	
Applicable Percentage
    	
 
    
	
JPMorgan Chase Bank, N.A.
    	
 
    	
$
    	
40,000,000.00
    	
 
    	
20.00
    	
%
    
	
PNC Bank, National Association
    	
 
    	
$
    	
40,000,000.00
    	
 
    	
20.00
    	
%
    
	
Wells Fargo Bank, National Association
    	
 
    	
$
    	
40,000,000.00
    	
 
    	
20.00
    	
%
    
	
U.S. Bank National Association
    	
 
    	
$
    	
30,000,000.00
    	
 
    	
15.00
    	
%
    
	
Royal Bank of Canada
    	
 
    	
$
    	
25,000,000.00
    	
 
    	
12.50
    	
%
    
	
Fifth Third Bank
    	
 
    	
$
    	
15,000,000.00
    	
 
    	
7.50
    	
%
    
	
Old National Bank
    	
 
    	
$
    	
10,000,000.00
    	
 
    	
5.00
    	
%
    
	
Total 
    	
 
    	
$
    	
200,000,000
    	
 
    	
100.00
    	
%
    

 

 

EXHIBIT C

 

Restated Schedules

 

Schedule 5.01 - Jurisdictions of Organization and Qualification of the Borrower and Subsidiaries, Part (a)

 

	
Entity
    	
 
    	
Organization State
    	
 
    	
Foreign Qualification(s)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Armadillo, Inc.
    	
 
    	
Colorado
    	
 
    	
 
    
	
Aspen Creek   Beverage Corp.
    	
 
    	
Texas
    	
 
    	
 
    
	
Aspen Creek, LLC
    	
 
    	
Kentucky
    	
 
    	
North Carolina
    
	
 
    	
 
    	
 
    	
 
    	
Oklahoma
    
	
 
    	
 
    	
 
    	
 
    	
Texas
    
	
Roadhouse   Enterprises, Inc.
    	
 
    	
Texas
    	
 
    	
 
    
	
Roadhouse-Creek   of NJ, LLC
    	
 
    	
Kentucky
    	
 
    	
New Jersey
    
	
Roadhouse   Private Beverage Club of Pelham, Inc.
    	
 
    	
Alabama
    	
 
    	
 
    
	
Texas Roadhouse   Delaware LLC
    	
 
    	
Delaware
    	
 
    	
Florida
    
	
 
    	
 
    	
 
    	
 
    	
North Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Wisconsin
    
	
Texas Roadhouse   Development Corporation
    	
 
    	
Kentucky
    	
 
    	
 
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Kentucky
    	
 
    	
Alabama
    
	
 
    	
 
    	
 
    	
 
    	
Arizona
    
	
 
    	
 
    	
 
    	
 
    	
Arkansas
    
	
 
    	
 
    	
 
    	
 
    	
Colorado
    
	
 
    	
 
    	
 
    	
 
    	
Connecticut
    
	
 
    	
 
    	
 
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    	
 
    	
Florida
    
	
 
    	
 
    	
 
    	
 
    	
Georgia
    
	
 
    	
 
    	
 
    	
 
    	
Idaho
    
	
 
    	
 
    	
 
    	
 
    	
Illinois
    
	
 
    	
 
    	
 
    	
 
    	
Indiana
    
	
 
    	
 
    	
 
    	
 
    	
Iowa
    
	
 
    	
 
    	
 
    	
 
    	
Kansas
    
	
 
    	
 
    	
 
    	
 
    	
Louisiana
    
	
 
    	
 
    	
 
    	
 
    	
Maine
    
	
 
    	
 
    	
 
    	
 
    	
Maryland
    

 

 

	
Entity
    	
 
    	
Organization State
    	
 
    	
Foreign Qualification(s)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Massachusetts
    
	
Texas Roadhouse Holdings LLC   cont.
    	
 
    	
 
    	
 
    	
Michigan
    
	
 
    	
 
    	
 
    	
 
    	
Minnesota
    
	
 
    	
 
    	
 
    	
 
    	
Mississippi
    
	
 
    	
 
    	
 
    	
 
    	
Missouri
    
	
 
    	
 
    	
 
    	
 
    	
Nebraska
    
	
 
    	
 
    	
 
    	
 
    	
New Hampshire
    
	
 
    	
 
    	
 
    	
 
    	
New Jersey
    
	
 
    	
 
    	
 
    	
 
    	
New Mexico
    
	
 
    	
 
    	
 
    	
 
    	
New York
    
	
 
    	
 
    	
 
    	
 
    	
North Carolina
    
	
 
    	
 
    	
 
    	
 
    	
North Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Ohio
    
	
 
    	
 
    	
 
    	
 
    	
Oklahoma
    
	
 
    	
 
    	
 
    	
 
    	
Pennsylvania
    
	
 
    	
 
    	
 
    	
 
    	
Rhode Island
    
	
 
    	
 
    	
 
    	
 
    	
South Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Tennessee
    
	
 
    	
 
    	
 
    	
 
    	
Texas
    
	
 
    	
 
    	
 
    	
 
    	
Utah
    
	
 
    	
 
    	
 
    	
 
    	
Virginia
    
	
 
    	
 
    	
 
    	
 
    	
Washington
    
	
 
    	
 
    	
 
    	
 
    	
West Virginia
    
	
 
    	
 
    	
 
    	
 
    	
Wisconsin
    
	
Texas Roadhouse   International, LLC
    	
 
    	
Nevada
    	
 
    	
 
    
	
Texas Roadhouse   International Services, LLC
    	
 
    	
Kentucky
    	
 
    	
 
    
	
Texas Roadhouse   Louisville I LLC
    	
 
    	
Kentucky
    	
 
    	
 
    
	
Texas Roadhouse   Management Corp.
    	
 
    	
Kentucky
    	
 
    	
Alabama
    
	
 
    	
 
    	
 
    	
 
    	
Arizona
    
	
 
    	
 
    	
 
    	
 
    	
Arkansas
    
	
 
    	
 
    	
 
    	
 
    	
California
    
	
 
    	
 
    	
 
    	
 
    	
Colorado
    
	
 
    	
 
    	
 
    	
 
    	
Connecticut
    
	
 
    	
 
    	
 
    	
 
    	
Delaware
    

 

 

	
Entity
    	
 
    	
Organization State
    	
 
    	
Foreign Qualification(s)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Texas Roadhouse Management   Corp. cont.
    	
 
    	
 
    	
 
    	
Florida
    
	
 
    	
 
    	
 
    	
 
    	
Georgia
    
	
 
    	
 
    	
 
    	
 
    	
Idaho
    
	
 
    	
 
    	
 
    	
 
    	
Illinois
    
	
 
    	
 
    	
 
    	
 
    	
Indiana
    
	
 
    	
 
    	
 
    	
 
    	
Iowa
    
	
 
    	
 
    	
 
    	
 
    	
Kansas
    
	
 
    	
 
    	
 
    	
 
    	
Louisiana
    
	
 
    	
 
    	
 
    	
 
    	
Maine
    
	
 
    	
 
    	
 
    	
 
    	
Maryland
    
	
 
    	
 
    	
 
    	
 
    	
Massachusetts
    
	
 
    	
 
    	
 
    	
 
    	
Michigan
    
	
 
    	
 
    	
 
    	
 
    	
Minnesota
    
	
 
    	
 
    	
 
    	
 
    	
Minnesota
    
	
 
    	
 
    	
 
    	
 
    	
Mississippi
    
	
 
    	
 
    	
 
    	
 
    	
Missouri
    
	
 
    	
 
    	
 
    	
 
    	
Montana
    
	
 
    	
 
    	
 
    	
 
    	
Nebraska
    
	
 
    	
 
    	
 
    	
 
    	
Nevada
    
	
 
    	
 
    	
 
    	
 
    	
New Hampshire
    
	
 
    	
 
    	
 
    	
 
    	
New Jersey
    
	
 
    	
 
    	
 
    	
 
    	
New Mexico
    
	
 
    	
 
    	
 
    	
 
    	
New York
    
	
 
    	
 
    	
 
    	
 
    	
North Carolina
    
	
 
    	
 
    	
 
    	
 
    	
North Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Ohio
    
	
 
    	
 
    	
 
    	
 
    	
Oklahoma
    
	
 
    	
 
    	
 
    	
 
    	
Pennsylvania
    
	
 
    	
 
    	
 
    	
 
    	
Rhode Island
    
	
 
    	
 
    	
 
    	
 
    	
South Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Tennessee
    
	
 
    	
 
    	
 
    	
 
    	
Texas
    

 

 

	
Entity
    	
 
    	
Organization State
    	
 
    	
Foreign Qualification(s)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Utah
    
	
 
    	
 
    	
 
    	
 
    	
Vermont
    
	
 
    	
 
    	
 
    	
 
    	
Virginia
    
	
 
    	
 
    	
 
    	
 
    	
West Virginia
    
	
 
    	
 
    	
 
    	
 
    	
Wisconsin
    
	
 
    	
 
    	
 
    	
 
    	
Wyoming
    
	
Texas Roadhouse   of Austin, Ltd.
    	
 
    	
Kentucky
    	
 
    	
Texas
    
	
Texas Roadhouse   of Austin-North, Ltd.
    	
 
    	
Kentucky
    	
 
    	
Texas
    
	
Texas Roadhouse   of Baytown, TX, LLC
    	
 
    	
Kentucky
    	
 
    	
Texas
    
	
Texas Roadhouse   of Boise, LLC
    	
 
    	
Kentucky
    	
 
    	
Idaho
    
	
Texas Roadhouse   of Cedar Falls, LLC
    	
 
    	
Kentucky
    	
 
    	
Iowa
    
	
Texas Roadhouse   of Cheyenne, LLC
    	
 
    	
Kentucky
    	
 
    	
Wyoming
    
	
Texas Roadhouse   of Decatur, LLC
    	
 
    	
Kentucky
    	
 
    	
Illinois
    
	
Texas Roadhouse   of Dixie Highway, LLC
    	
 
    	
Kentucky
    	
 
    	
 
    
	
Texas Roadhouse   of East Peoria, LLC
    	
 
    	
Kentucky
    	
 
    	
Illinois
    
	
Texas Roadhouse   of Elkhart, LLC
    	
 
    	
Kentucky
    	
 
    	
Indiana
    
	
Texas Roadhouse   of Elyria, LLC
    	
 
    	
Kentucky
    	
 
    	
Ohio
    
	
Texas Roadhouse   of Fort Myers, FL, LLC
    	
 
    	
Kentucky
    	
 
    	
Florida
    
	
Texas Roadhouse   of Fort Wayne, LLC
    	
 
    	
Kentucky
    	
 
    	
Indiana
    
	
Texas Roadhouse   of Gilbert, AZ, LLC
    	
 
    	
Kentucky
    	
 
    	
Arizona
    
	
Texas Roadhouse   of Grand Junction, LLC
    	
 
    	
Kentucky
    	
 
    	
Colorado
    
	
Texas Roadhouse   of Hendersonville, de Novo, LLC
    	
 
    	
Kentucky
    	
 
    	
Tennessee
    
	
Texas Roadhouse   of Huber Heights, LLC
    	
 
    	
Kentucky
    	
 
    	
Ohio
    
	
Texas Roadhouse   of Jacksonville, NC, LLC
    	
 
    	
Kentucky
    	
 
    	
North Carolina
    
	
Texas Roadhouse   of Kansas, LLC
    	
 
    	
Kansas
    	
 
    	
 
    
	
Texas Roadhouse   of Lancaster, LLC
    	
 
    	
Kentucky
    	
 
    	
Pennsylvania
    
	
Texas Roadhouse   of Lancaster, OH, LLC
    	
 
    	
Kentucky
    	
 
    	
Ohio
    

 

 

	
Entity
    	
 
    	
Organization State
    	
 
    	
Foreign Qualification(s)
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Texas Roadhouse   of Lansing, LLC
    	
 
    	
Kentucky
    	
 
    	
Michigan
    
	
Texas Roadhouse   of Lexington, KY, II, LLC
    	
 
    	
Kentucky
    	
 
    	
 
    
	
Texas Roadhouse   of Lynchburg, LLC
    	
 
    	
Kentucky
    	
 
    	
Virginia
    
	
Texas Roadhouse   of Mansfield, Ltd.
    	
 
    	
Kentucky
    	
 
    	
Texas
    
	
Texas Roadhouse   of Menifee, CA, LLC
    	
 
    	
Kentucky
    	
 
    	
California
    
	
Texas Roadhouse   of Parker, LLC
    	
 
    	
Kentucky
    	
 
    	
Colorado
    
	
Texas Roadhouse   of Reno, NV, LLC
    	
 
    	
Nevada
    	
 
    	
 
    
	
Texas Roadhouse   of Richmond, LLC
    	
 
    	
Kentucky
    	
 
    	
Virginia
    
	
Texas Roadhouse   of Roseville, LLC
    	
 
    	
Kentucky
    	
 
    	
Michigan
    
	
Texas Roadhouse   of Stillwater, OK, LLC
    	
 
    	
Kentucky
    	
 
    	
Oklahoma
    
	
Texas Roadhouse   of Vermont Intermediate Holdings
    	
 
    	
Vermont
    	
 
    	
 
    
	
Texas Roadhouse   of Vermont, LLC
    	
 
    	
Vermont
    	
 
    	
 
    
	
Texas Roadhouse   of Warwick, LLC
    	
 
    	
Kentucky
    	
 
    	
Rhode Island
    
	
Texas   Roadhouse, Inc.
    	
 
    	
Delaware
    	
 
    	
Alabama
    
	
 
    	
 
    	
 
    	
 
    	
Colorado
    
	
 
    	
 
    	
 
    	
 
    	
Florida
    
	
 
    	
 
    	
 
    	
 
    	
Idaho
    
	
 
    	
 
    	
 
    	
 
    	
Illinois
    
	
 
    	
 
    	
 
    	
 
    	
Kentucky
    
	
 
    	
 
    	
 
    	
 
    	
Louisiana
    
	
 
    	
 
    	
 
    	
 
    	
Maine
    
	
 
    	
 
    	
 
    	
 
    	
Massachusetts
    
	
 
    	
 
    	
 
    	
 
    	
Missouri
    
	
 
    	
 
    	
 
    	
 
    	
New Jersey
    
	
 
    	
 
    	
 
    	
 
    	
New Mexico
    
	
 
    	
 
    	
 
    	
 
    	
Ohio
    
	
 
    	
 
    	
 
    	
 
    	
South Dakota
    
	
 
    	
 
    	
 
    	
 
    	
Virginia
    
	
 
    	
 
    	
 
    	
 
    	
Washington
    
	
TRDC   International, LLC
    	
 
    	
Nevada
    	
 
    	
 
    
	
TRH Beverages of   Austin-North, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverages of   Austin-South, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverages of   Baytown, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverages of   Mansfield, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverage   Holdings of Austin-North, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverage   Holdings of Austin-South, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverage   Holdings of Baytown, TX, LLC
    	
 
    	
Texas
    	
 
    	
 
    
	
TRH Beverage   Holdings of Mansfield, LLC
    	
 
    	
Texas
    	
 
    	
 
    

 

 

Schedule 5.06 - Litigation

 

On September 30, 2011, the U.S. Equal Employment Opportunity Commission (“EEOC”) filed a lawsuit styled Equal Employment Opportunity Commission v. Texas Roadhouse, Inc., Texas Roadhouse Holdings LLC, Texas Roadhouse Management Corp. in the United States District Court, District of Massachusetts (“Court”), Civil Action Number 1:11-cv-11732. The complaint alleges that applicants over the age of 40 were denied employment in our restaurants in bartender, host, server and server assistant positions due to their age.  The EEOC is seeking injunctive relief, remedial actions, payment of damages to the applicants and costs.  We have filed an answer to the complaint, and the case is in discovery.  We deny liability; however, in view of the inherent uncertainties of litigation, the outcome of this case cannot be predicted at this time.  We cannot estimate the possible amount or range of loss, if any, associated with this matter.

 

 

Schedule 5.09 — Environmental Matters

 

None

 

 

Schedule 5.11 - Taxes

 

	
Auditing Agency
    	
 
    	
Date of Notification
    	
 
    	
Entity under Audit
    	
 
    	
Tax Type under
   Audit
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Illinois   Department of Revenue
    	
 
    	
6/8/2012
    	
 
    	
Texas   Roadhouse, Inc. & Subsidiaries
    	
 
    	
Income Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
New Jersey   Department of the Treasury/Division of Taxation
    	
 
    	
4/25/2013
    	
 
    	
Texas Roadhouse, Inc.
    	
 
    	
Income Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Florida   Department of Revenue
    	
 
    	
1/23/2012
    	
 
    	
Texas Roadhouse, Inc.
    	
 
    	
Income Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Colorado   Department of Revenue
    	
 
    	
3/23/2012
    	
 
    	
Texas Roadhouse   of Grand Junction, LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Colorado   Department of Revenue
    	
 
    	
3/23/2012
    	
 
    	
Texas Roadhouse   of Parker, LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Colorado   Department of Revenue
    	
 
    	
3/23/2012
    	
 
    	
Roadhouse of   Longmont, LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Colorado   Department of Revenue
    	
 
    	
3/23/2012
    	
 
    	
Texas Roadhouse   Holdings LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
South Dakota   Department of Revenue
    	
 
    	
2/20/2013
    	
 
    	
Texas Roadhouse   Holdings LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
New York State   Department of Taxation and Finance
    	
 
    	
2/27/2013
    	
 
    	
Texas Roadhouse   Holdings LLC
    	
 
    	
Sales &   Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Texas   Comptroller of Public Accounts
    	
 
    	
5/8/2013
    	
 
    	
Texas Roadhouse   Holdings LLC
    	
 
    	
Limited Sales,   Excise, & Use Tax
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
City of   Thornton, CO
    	
 
    	
5/23/2013
    	
 
    	
Texas Roadhouse   Holdings LLC
    	
 
    	
Sales &   Use Tax
    

 

 

Schedule 5.12 — ERISA Plans

 

1.              Texas Roadhouse Salaried Employees 401(k) Profit Sharing Plan

 

2.              Third Amended and Restated Deferred Compensation Plan of Texas Roadhouse Management Corp.

 

 

Schedule 5.13 - Subsidiaries and Other Equity Investments, Part (a)

 

	
Entity
    	
 
    	
Ownership
    
	
Texas   Roadhouse, Inc.
    	
 
    	
100% of Armadillo, Inc.
    
	
 
    	
 
    	
100% of Aspen   Creek, LLC
    
	
 
    	
 
    	
100% of Aspen   Creek Beverage Corp.  (indirect ownership)
    
	
 
    	
 
    	
100% of   Roadhouse-Creek of NJ, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse Development Corporation
    
	
 
    	
 
    	
100% of Texas   Roadhouse Holdings LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse Management Corp.
    
	
 
    	
 
    	
100% of Texas   Roadhouse International, LLC
    
	
 
    	
 
    	
100% of TRDC   International, LLC  (indirect ownership)
    
	
 
    	
 
    	
100% of Texas   Roadhouse International Services, LLC  (indirect ownership)
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
100% of   Roadhouse Enterprises, Inc.
    
	
 
    	
 
    	
100% of Texas   Roadhouse Delaware LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse Louisville I LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Boise, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Cedar Falls, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Cheyenne, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Decatur, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Dixie Highway, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of East Peoria, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Elkhart, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Elyria, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Fort Wayne, LLC
    
	
 
    	
 
    	
100% of Texas Roadhouse   of Grand Junction, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Kansas, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Lancaster, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Lansing, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Lynchburg, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Reno, NV, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Richmond, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Roseville, LLC
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Vermont Intermediate Holdings
    
	
 
    	
 
    	
100% of Texas   Roadhouse of Vermont, LLC (indirect ownership)
    
	
 
    	
 
    	
100% of   Roadhouse Private Beverage Club of Pelham, Inc.
    
	
 
    	
 
    	
67.5% of Texas   Roadhouse of Menifee, CA, LLC
    

 

 

	
Entity
    	
 
    	
Ownership
    
	
Texas Roadhouse Holdings LLC   cont.
    	
 
    	
65% of Texas   Roadhouse of Austin-North, Ltd.
    
	
 
    	
 
    	
60% of Texas   Roadhouse of Austin, Ltd.
    
	
 
    	
 
    	
55% of Texas   Roadhouse of Huber Heights, LLC
    
	
 
    	
 
    	
55% of Texas   Roadhouse of Lancaster, OH, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Gilbert, AZ, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Hendersonville, de Novo, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Jacksonville, NC, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Mansfield, Ltd.
    
	
 
    	
 
    	
53.03% of Texas   Roadhouse of Parker, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Stillwater, OK, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Warwick, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Baytown, TX, LLC
    
	
 
    	
 
    	
70% of Texas   Roadhouse of Fort Myers, FL, LLC
    
	
 
    	
 
    	
52.5% of Texas   Roadhouse of Lexington, KY, II, LLC
    
	
 
    	
 
    	
65% of TRH   Beverage Holdings of Austin-North, LLC (indirect)
    
	
 
    	
 
    	
60% of TRH   Beverage Holdings of Austin-South, LLC (indirect)
    
	
 
    	
 
    	
52.5% of TRH   Beverage Holdings of Baytown, TX, LLC (indirect)
    
	
 
    	
 
    	
52.5% of TRH   Beverage Holdings of Mansfield, LLC (indirect)
    
	
 
    	
 
    	
65% of TRH   Beverages of Austin-North, LLC (indirect)
    
	
 
    	
 
    	
60% of TRH   Beverages of Austin-South, LLC (indirect)
    
	
 
    	
 
    	
52.5% of TRH   Beverages of Baytown, TX, LLC (indirect)
    
	
 
    	
 
    	
52.5% of TRH   Beverages of Mansfield, LLC (indirect)
    

 

 

Schedule 5.13 - Subsidiaries and Other Equity Investments, Part (b)

 

	
Entity
    	
 
    	
Ownership
    
	
Texas Roadhouse, Inc.
    	
 
    	
40% of EF & TRH Restaurants (HK) Holding Limited  (indirect ownership)
    
	
 
    	
 
    	
 
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
10% of Paragon   Centre Holdings, LLC
    
	
 
    	
 
    	
10% of Roadhouse   of Memphis, LLC
    
	
 
    	
 
    	
10% of Texas   Roadhouse of Hiram, LLC
    
	
 
    	
 
    	
10% of Texas   Roadhouse of Marietta, LLC
    
	
 
    	
 
    	
7.5% of   Roadhouse of Montgomeryville, LLC
    
	
 
    	
 
    	
5.49% of   Roadhouse of Omaha, LLC
    
	
 
    	
 
    	
5.09% of Texas   Roadhouse of Brownsville, Ltd.
    
	
 
    	
 
    	
5.05% of   Roadhouse of Fargo, LLC
    
	
 
    	
 
    	
5% of Appleton   Operating LLC
    
	
 
    	
 
    	
5% of Janesville   Operating LLC
    
	
 
    	
 
    	
5% of Roadhouse   of Bossier City, LLC
    
	
 
    	
 
    	
5% of Roadhouse   of Logan, UT, LLC
    
	
 
    	
 
    	
5% of Roadhouse   of Longmont, LLC
    
	
 
    	
 
    	
5% of Roadhouse   of McKinney, Ltd.
    
	
 
    	
 
    	
5% of Roadhouse   of New Berlin, LLC
    
	
 
    	
 
    	
5% of Roadhouse   of Temple, Ltd.
    
	
 
    	
 
    	
5% of Roadhouse   of Wichita, LLC
    
	
 
    	
 
    	
5% of Seaford   Ventures, LLC
    
	
 
    	
 
    	
5% of Sheboygan   Operating LLC
    
	
 
    	
 
    	
5% of Texas   Roadhouse of Billings, LLC
    
	
 
    	
 
    	
5% of Texas   Roadhouse of Everett, LLC
    
	
 
    	
 
    	
5% of Texas   Roadhouse of Port Arthur, Ltd.
    
	
 
    	
 
    	
5% of Roadhouse   of Farmington, NM, LLC
    
	
 
    	
 
    	
10% of TRH   Westland, LLC
    
	
 
    	
 
    	
5% of   Hospitality Steak House, LLC
    
	
 
    	
 
    	
5% of TRH   Beverage Holdings of McKinney, LLC (indirect)
    
	
 
    	
 
    	
5.09% of TRH   Beverage Holdings of Brownsville, LLC (indirect)
    
	
 
    	
 
    	
5% of TRH   Beverage Holdings of Port Arthur, LLC (indirect)
    
	
 
    	
 
    	
5% of TRH   Beverage Holdings of Temple, LLC (indirect)
    
	
 
    	
 
    	
5% of Roadhouse   of Kansas, LLC  (indirect)
    
	
 
    	
 
    	
5% of Billings   Beverage Corp.  (indirect)
    
	
 
    	
 
    	
5% of TRH   Beverages of McKinney, LLC  (indirect)
    
	
 
    	
 
    	
5.09% of TRH   Beverages of Brownsville, LLC (indirect)
    
	
 
    	
 
    	
5% of TRH   Beverages of Port Arthur, LLC  (indirect)
    
	
 
    	
 
    	
5% of TRH   Beverages of Temple, LLC  (indirect)
    

 

 

Schedule 5.15 — Material Contracts

 

1.              Amended and Restated Lease Agreement by and between Paragon Centre Holdings, LLC, as landlord and Texas Roadhouse Holdings LLC, as tenant dated January 1, 2006.

 

·                  First Amendment to Amended and Restated Lease Agreement by and between Paragon Centre Holdings, LLC, and Texas Roadhouse Holdings LLC, dated December 18, 2006.

 

·                  Second Amendment to Amended and Restated Lease Agreement by and between Paragon Centre Holdings, LLC, and Texas Roadhouse Holdings, LLC dated May 10, 2007.

 

·                  Third Amendment to Amended and Restated Lease Agreement by and between Paragon Centre Holdings, LLC and Texas Roadhouse Holdings, LLC dated September 7, 2007.

 

·                  Fourth Amendment to Amended and Restated Lease Agreement by and between Paragon Centre Holdings, LLC and Texas Roadhouse Holdings, LLC dated July 22, 2009.

 

2.              Coca-Cola North America Foodservice Beverage Marketing Agreement between Texas Roadhouse Holdings, LLC and Texas Roadhouse Development Corporation dated February 22, 2007.

 

3.              Agreement for Products and Services between Ceridian Corporation or subsidiary and Texas Roadhouse dated March 14, 2013.

 

4.              Distribution Services Agreement between Texas Roadhouse Holdings LLC and The Sygma Network, Inc. dated July 7, 2008.

 

 

Schedule 5.18 — Intellectual Property

 

None

 

 

Schedule 7.01 - Existing Liens

 

	
Debtor
    	
 
    	
Secured party
    	
 
    	
Description
    	
 
    	
Filing Data
    
	
Texas Roadhouse   Holdings, LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
1 Copier 9050N
    	
 
    	
2013-2658673-73

Filed:   08-08-2013

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings, LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
6 Copiers Bizhub
    	
 
    	
2013-2640583-14

Filed: 05-08-2013

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
3 Copiers Bizhub
    	
 
    	
2013-2618778-95

Filed:   01-08-2013

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
GFC Leasing
    	
 
    	
Lanier Copier
    	
 
    	
2012-2610365-28

Filed: 11-15-2012

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
Copiers &   Equipment
    	
 
    	
2012-2596091-97

Filed:   08-15-2012

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
Copiers &   Equipment
    	
 
    	
2012-2588515-59

Filed:   06-29-2012

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
U.S. Bank   Equipment Finance
    	
 
    	
Equipment
    	
 
    	
2012-2582205-89

Filed:   05-25-2012

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC/Texas Roadhouse
    	
 
    	
Sysco Central   California, Inc.
    	
 
    	
Goods delivered   by Sysco & accounts receivable, etc.
    	
 
    	
2012-2572271-71

Filed:   04-09-2012

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
GFC Leasing
    	
 
    	
Lexmark XS652DE
    	
 
    	
2011-4025550

Filed:   10-19-2011

Delaware   Secretary of State
    
	
Texas Roadhouse   Holdings, LLC
    	
 
    	
Officeware   Integrated Office Solutions
    	
 
    	
1 Canon IRADV   C5045 Copier
    	
 
    	
2011-2506775-56.01

Filed:   03-23-2011

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings, LLC
    	
 
    	
Officeware   Integrated Office Solutions
    	
 
    	
1 Canon IRADV 6065   Copier
    	
 
    	
2010-2489911-17.01

Filed:   12-03-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
GFC Leasing, a   Division of Gordon Flesch Co., Inc.
    	
 
    	
1 Sharp MX-B401   Printer 02112606V5842
    	
 
    	
2010-2481763-54.01

Filed:   10-13-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware
    	
 
    	
3 HP Laserjet   9050DN Printers
    	
 
    	
2010-2480633-69.01

Filed:   10-05-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
CTWP Leasing
    	
 
    	
1 Lexmark X464de   Printer
    	
 
    	
2010-2478745-60.01

Filed:   09-24-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware
    	
 
    	
1 HP 4345X   Copier
    	
 
    	
2010-2451671-19

Filed:   05-04-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware
    	
 
    	
1 HP 4345X   Copier
    	
 
    	
2010 2440259-89

Filed:   03-11-2010

Kentucky Secretary   of State
    

 

 

	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware
    	
 
    	
1 HP 4345X   Copier
    	
 
    	
2010-2440258-78

Filed:   03-11-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC -and- Texas Roadhouse of   Mesquite, Ltd.
    	
 
    	
Union Fidelity   Life Insurance Company
    	
 
    	
Restaurant   equipment, machinery, furniture, fixtures, replacements, substitutions,   additions, etc., used in operation of TXRH at 1420 Peachtree Rd.,   Mesquite, TX
    	
 
    	
2010-2439590-75

Filed:   03-08-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC -and- Texas Roadhouse of  Pasadena, Ltd.
    	
 
    	
Union Fidelity   Life Insurance
    	
 
    	
Restaurant   equipment, machinery, furniture, fixtures, replacements, substitutions,   additions, etc., used in operation of TSRH at 3033 E Sam Houston Pkwy,   Pasadena, TX
    	
 
    	
2010-2439591-86

Filed 03-08-2010  

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
USRP Funding   2001-A LP
    	
 
    	
Restaurant   equipment, machinery, furniture, fixtures, replacements, substitutions,   additions, etc., used in operation of TXRH, Grand Prairie, TX
    	
 
    	
2010-2439592-97

Filed:   03-08-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware
    	
 
    	
1 Cannon   Imagerunner IR1025IF Copier
    	
 
    	
2010-2433998-71

Filed:   01-29-2010

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware   Financial Services
    	
 
    	
1 Ecopy Desktop   20 User Pack
    	
 
    	
2009-2413915-36

Filed:   10-02-2009

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Wells Fargo   Financial Leasing, Inc.
    	
 
    	
2 Canon IRC3080   Copiers; 1 Canon IR1025 Copier; 4 Canon IR5050N Copiers
    	
 
    	
2009-2409006-42

Filed:   09-03-2009

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Wells Fargo   Financial Leasing, Inc.
    	
 
    	
1 Canon Hole   Punch TRM 16631 for Copier
    	
 
    	
2009-2408794-55

Filed:   09-02-2009  

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Wells Fargo Financial   Leasing, Inc.
    	
 
    	
2 Canon Copiers   w/fax Module 5050N
    	
 
    	
2009-2396963-39  

Filed:   07-03-2009  

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
US Bancorp
    	
 
    	
1 ESTUI0523T   CZL726957 Copier
    	
 
    	
2008-2308912-55  

Filed:   04-04-2008  

Kentucky   Secretary of State
    

 

 

	
Texas Roadhouse   Holdings LLC
    	
 
    	
Power &   Ray, LLC
    	
 
    	
All fixtures,   furniture, equipment, improvements, additions, alterations, inventory,   personal property, etc. located at Gilbert, AZ store
    	
 
    	
2007-2250531-97.01  

Filed:   06-11-2007  

Kentucky   Secretary of State
    
	
Texas Roadhouse   Holdings LLC
    	
 
    	
Officeware   Integrated Office Solutions
    	
 
    	
1 Canon IRADV   C5045 Copier
    	
 
    	
2010-2489829-05.01  

Filed:   12-03-2010  

Kentucky   Secretary of State
    

 

 

Schedule 7.02 — Existing Investments

 

See Schedule 5.13(b)

 

 

EXHIBIT D

 

Exhibit D

 

Form of Compliance Certificate

 

Attached

 

 

FORM OF COMPLIANCE CERTIFICATE

 

Financial Statement Date:                    ,

 

To:          JPMorgan Chase Bank, N.A., as Administrative Agent

 

Ladies and Gentlemen:

 

Reference is made to that certain Credit Agreement, dated as of August 12, 2011 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Texas Roadhouse, Inc., a Delaware corporation (the “Borrower”), the Lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender.

 

The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the [                                                ] of the Borrower, and that, as such, he/she is authorized to execute and deliver this Compliance Certificate to the Administrative Agent on the behalf of the Borrower, and that:

 

[Use following paragraph 1 for Fiscal Year-end financial statements]

1.     Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 6.01(a) of the Agreement for the Fiscal Year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section.

 

[Use following paragraph 1 for Fiscal Quarter-end financial statements]

1.     Attached hereto as Schedule 1 are the unaudited financial statements required by Section 6.01(b) of the Agreement for the Fiscal Quarter of the Borrower ended as of the above date.  Such financial statements fairly present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes.

 

2.     The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by the attached financial statements.

 

3.     A review of the activities of the Borrower during such fiscal period has been made under the supervision of the undersigned with a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and

 

[select one:]

 

[to the best knowledge of the undersigned during such fiscal period, the Borrower performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.]

 

— or—

 

[the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:]

 

4.     The representations and warranties of the Borrower contained in Article V of the Agreement, and any representations and warranties of any Loan Party that are contained in any document furnished at any time under or in connection with the Loan Documents, are true and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Agreement shall be deemed to refer to the most recent 

 

 

statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered.

 

5.     The financial covenant analyses and information set forth on Schedule 2 attached hereto are true and accurate on and as of the date of this Compliance Certificate.

 

(Signature Page Follows)

 

 

IN WITNESS WHEREOF, the undersigned has executed this Compliance Certificate as of                                 ,                             .

 

	
 
    	
TEXAS ROADHOUSE, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    

 

 

SCHEDULE 1

 

[FINANCIAL STATEMENTS TO BE ATTACHED]

 

 

For the Fiscal Quarter/Fiscal Year ended                                       (“Statement Date”)

 

SCHEDULE 2
  to the Compliance Certificate
 ($ in 000’s)

 

	
I.     Section 7.14(a) —   Consolidated Fixed Charge Coverage Ratio
    
	
 
    
	
A. Consolidated   EBITR for four consecutive Fiscal Quarters ending on above date (“Subject   Period”):
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Consolidated Net   Income for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Consolidated   Interest Charges for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Provision for   income taxes for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Consolidated   Rental Expense for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.
    	
Non-cash expense   attributable to the grant of stock awards pursuant to the Equity Incentive   Plan to employees, directors or consultants for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6.
    	
Non-cash   impairment charges, non-cash charges resulting from the closing of and   cessation of business at any Restaurant and/or non-cash charges resulting   from losses on dispositions of assets in the ordinary course of business   (which, for purposes hereof, shall include non-cash charges resulting from   the remodeling or improvement of any Restaurant and the replacement of   equipment used at any Restaurant) for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
7.
    	
Consolidated   EBITR (I.A.1 + I.A.2 + I.A.3 + I.A.4 + I.A.5 + I.A.6):
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
B. Consolidated Fixed Charges for Subject Period
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Consolidated   Interest Charges for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Consolidated   Rental Expense for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Consolidated   Fixed Charges (I.B.1 + I.B.2):
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
C. Consolidated Fixed Charge Coverage Ratio (I.A.7 ÷ I.B.3):
    	
 
    	
              to   1.00
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Minimum Required:
    	
 
    	
2.00 to 1.00
    
	
 
    	
 
    	
 
    
	
II. Section 7.14 (b) — Consolidated   Leverage Ratio.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
A. Consolidated Adjusted Funded Indebtedness:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Outstanding   principal amount of all obligations at Statement Date:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
All purchase   money Indebtedness:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
All direct   obligations under letters of credit, bankers acceptances, bank guaranties,   and similar instruments:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
All obligations   in respect of deferred purchase price of property or services:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.
    	
Attributable   Indebtedness in respect of capital leases:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6.
    	
All obligations   of any Person to purchase, redeem, retire, defease or otherwise make any   payment in respect of any Equity Interest in such Person or any other Person,   valued, in the case of a redeemable preferred interest, at the greater of its   voluntary or involuntary liquidation preference plus accrued and unpaid   dividends:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
7.
    	
All Guarantees   with respect to outstanding Indebtedness of the types referred to in Lines   II.A.1 through II.A.6 above:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
8.
    	
All Indebtedness   of the types referred to in Lines II.A.1 through II.A.7 above of 
    	
 
    	
 
    

 

 

	
 
    	
 
    	
any partnership   or joint venture involving the Borrower (other than a joint venture that is   itself a corporation or limited liability company) which such partnership or   joint venture is not a direct or indirect Subsidiary of the Borrower, in   which the Borrower or a Subsidiary is a general partner or joint venturer,   unless such Indebtedness is expressly made non-recourse to the Borrower or   such Subsidiary:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
9.
    	
An amount equal   to the product of eight (8) times Consolidated Rental Expense for   Subject Period (excluding up to $5,000,000 of Consolidated Rental Expense   attributable to equipment leases):
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
10.
    	
Consolidated   Adjusted Funded Indebtedness (Lines II.A.1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9):
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
B. Consolidated EBITDAR for Subject Period:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Consolidated   EBITR for Subject Period (Line I.A.7):
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Depreciation   expenses for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Amortization   expenses for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Consolidated   EBITDAR (Lines II.B.1 + II.B.2 + II.B.3):
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
C. Consolidated New Unit Pre-Opening Costs for Subject Period:
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
D. Consolidated Leverage Ratio (Line II.A.10 ÷ (Line II.B.4 + Line   II.C)):
    	
 
    	
              to   1.00
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Maximum Allowed:
    	
 
    	
3.00 to 1.00
    
	
 
    
	
III. Applicable Rate — Consolidated Net Leverage   Ratio.
    
	
 
    	
 
    	
 
    
	
A. Unrestricted Cash:
    	
 
    	
$
    
	
 
    	
 
    	
 
    
	
B. Consolidated Net Leverage Ratio ((Line II.A.10 - III.A) ÷ (Line II.B.4   + Line II.C)):
    	
 
    	
              to   1.00
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If less than 1.25 to 1.00:
    	
 
    	
Pricing Level 1
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If less than 1.50 to 1.00   but greater than or equal to 1.25 to 1.00:
    	
 
    	
Pricing Level 2
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If less than 2.00 to 1.00   but greater than or equal to 1.50 to 1.00
    	
 
    	
Pricing Level 3
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If less than 2.50 to 1.00   but greater than or equal to 2.00 to 1.00
    	
 
    	
Pricing Level 4
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If greater than or equal to   2.50 to 1.00
    	
 
    	
Pricing Level 5
    

 

IV.  Subsidiaries.

 

Set forth below is a list of all Subsidiaries of the Borrower, together with an indication of whether such Subsidiary is a Material Subsidiary and whether such Subsidiary is party to the Guaranty. Also set forth below is a calculation supporting the designation of each Subsidiary as a Material Subsidiary or non-Material Subsidiary .

 

	
Name of Subsidiary
    	
 
    	
Jurisdiction of
   Formation
    	
 
    	
Material Subsidiary and
   Party to Guaranty
   (Yes/No)
    	
 
    	
Calculations supporting
   the designation of each
   non-Material Subsidiary(1)
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    
	
[            ]
    	
 
    	
[            ]
    	
 
    	
[            ]
    	
 
    	
 
    

 

(1)  Calculations to demonstrate that the portion of Consolidated Tangible Net Worth attributable to each such non-Material Subsidiary does not exceed 2.5%, and that no more than 5% of Consolidated Tangible Net Worth is attributable to all non-Material Subsidiaries in the aggregate.

 

 

EXHIBIT E

 

List of “Amendment Documents”(2)

 

1.              Omnibus Amendment No. 1 and Consent to Credit Agreement and Guaranty, by and among the Borrower, the Guarantors, the Lenders and the Administrative Agent.

 

2.              Certificate of a Responsible Officer of the Borrower and each Guarantor (including each New Guarantor) (collectively, the “Companies”) certifying (i) that there have been no changes in the certificate of formation or other charter document of such Company, as attached thereto and as certified as of a recent date by the Secretary of State (or analogous governmental entity) of such Company’s jurisdiction of organization or incorporation, since the date of the certification thereof by such governmental entity, (ii) the limited liability company agreement or bylaws, as attached thereto, of such Company as in effect on the date of such certification, (iii) resolutions of the Board of Directors or other governing body of such Company authorizing the execution, delivery and performance of the Amendment Document to which it is a party, and (iv) the names and true signatures of the incumbent officers of such Company authorized to sign the Amendment Documents to which it is a party.

 

3.              Good Standing Certificate (or analogous documentation, if applicable) for each Company from the Secretary of State (or analogous governmental entity) of such Company’s jurisdiction of organization or incorporation.

 

4.              Opinion of Hayden, Craig & Grant, PLLC, counsel for the Companies, in form and substance acceptable to the Administrative Agent and its counsel.

 

(2)  Items appearing in bold and italics shall be prepared and/or provided by the Borrower and/or Borrower’s counsel.Exhibit 10.2

 

SEPARATION AGREEMENT AND GENERAL RELEASE

 

I, Jill Marchant, understand that my employment with Texas Roadhouse Management Corp. will terminate effective January 7, 2014 (the “Separation Date”).  In conjunction with the end of my employment, I want to resolve any issues, conflicts, or disputes I have with Texas Roadhouse, Inc. (including its parent and affiliated organizations; its past and present officers, directors, agents, and employees; and past and present fiduciaries and administrators of its employee benefit plans) (collectively, the “Company”).  Accordingly, I voluntarily enter into this separation agreement and release of all claims (“Agreement”).

 

In consideration of my release of claims and other promises contained herein, I understand that I will remain an employee and the Company will continue to pay my regular salary and benefits through January 7, 2014, which shall include my bonus for 2013. In addition the Company will:

 

(1)         pay me the total sum of $344,053.85, less applicable withholdings, which is an amount equal to one year base salary, together with bonus and value of my phone and car allowance for one year, and two weeks’ paid vacation (less applicable withholdings).  This sum shall be paid to me in four equal installment payments - the first payment ($86,013.46) being made on January 15, 2014, the second ($86,013.46) on May 15, 2014, the third ($86,013.46) on September 15, 2014 and the fourth and final payment ($86,013.47) on December 15, 2014.  The Company will work with me to confirm payment instructions at least 10 business days prior to each payment;

 

(2)         pay me the total sum of $17,346.47, less applicable withholdings, which reflects the cost of my COBRA benefits premium coverage for one year following my Separation Date.  This sum shall be paid to me on the Separation Date;

 

(3)         accelerate the vesting of my restricted stock units (“RSUs”) to January 7, 2014, including 4,250 RSUs currently due to vest in August 2014, and 15,000 RSUs currently due to vest on January 7, 2015.  These RSUs will vest net of taxes, consistent with past practice;

 

(4)         provide me a lump sum payment of Six Thousand Dollars ($6,000) within 14 days of my signing of this Agreement for outplacement assistance through a professional services provider of my choice, for which the Company shall issue a 1099; and

 

(5)         provide me a lump sum payment of Two Thousand Dollars ($2,000) within 14 days of my signing this Agreement for my attorney’s fees, which shall be paid directly to my attorney.

 

I realize that, by entering into this Agreement, I am forgoing any rights I might otherwise have for employment with the Company, including those contained in my Amended and Restated Employment Agreement, dated January 6, 2012. I understand that, as of my Separation Date, I will no longer be entitled to any employment benefits other than those expressly set forth herein.  While I understand that I will be paid regularly though my Separation Date, I agree to vacate my office no later than November 12, 2013 (Exit Date).  I further understand that I will have no official duties and will be relieved of my day-to-day responsibilities at the Company after my Exit Date including those of General Counsel.

 

I understand that, prior to my Separation Date, the Company will remove my name from any Company liquor license.  The Company also agrees to return to me all hard copies of personal background information in its possession that I provided to the Company in order to obtain liquor licenses during my tenure as General Counsel and to delete all electronic files containing such personal background information, except to the extent (i) necessary to comply with applicable federal and state laws or regulations, or (ii) in an intangible or electronic format that cannot readily be removed, erased or otherwise deleted from automatic computer system backup or archival systems.

 

 

I agree that I am not necessarily entitled to the payments and other benefits outlined above, but that I am receiving them only because I am entering into this Agreement.  I further understand that this Agreement is not an admission of liability or wrongdoing on behalf of either the Company or me.

 

In exchange for the enumerated separation payments and benefits being provided by the Company, I release the Company from any and all claims, known and unknown, that I may have against the Company.  This release includes but is not limited to any and all Claims relating to my employment by the Company or the separation of my employment from the Company, including wages, compensation of any kind, vacation pay, profit sharing plans, retirement plans or any benefit plans of any type or nature.  This release further includes, but is not limited to, any and all Claims arising under any of the following:  the Age Discrimination in Employment Act of 1967, as amended; the Older Workers Benefit Protection Act; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Civil Rights Act of 1870; the Family and Medical Leave Act of 1993, as amended; the Americans with Disabilities Act of 1990, as amended; the Fair Labor Standards Act of 1938, as amended by the Equal Pay Act of 1963; the Employees Retirement Income Security Act of 1974; the U.S. Patriot Act; the Sarbanes-Oxley Act; the Dodd-Frank Act; any other federal, state, or local civil rights, disability, discrimination, retaliation, or labor law, or any theory of contract, arbitral, or tort law, except for any claims arising under this Agreement.

 

I understand that among the claims that I am releasing are any claims under the Age Discrimination in Employment Act, 29 U.S.C. section 621 et seq. I also understand I am releasing all claims of any kind, including, but not limited to, those arising under any federal, state or local constitution, law, statute, regulation or ordinance, as well as any claims based on employee benefit laws, or the law of contracts, torts or intentional torts.

 

I acknowledge that I have not suffered any injury or illness in my work for the Company that would give rise to a claim under worker’s compensation law.  I have not filed any complaints or charges against the Company with any local, state or federal court, agency or board, based on events related to my employment.

 

I acknowledge that I have gained access to highly-confidential, personal, proprietary and trade-secret information regarding the Company, and disclosing any such information would put the Company at a competitive disadvantage in the marketplace or otherwise cause irreparable harm. Accordingly, I will not disclose any of the Company’s trade secrets or confidential or proprietary information (such as, but not limited to, customer information, account information, and technological information) to any person, company or entity.  I agree that I have returned (or will return no later than my Exit Date) to the Company all Company property in my possession, as well as all materials that contain the Company’s confidential or proprietary information.  The Company will allow me to retain my laptop computer and Company-issued iPad, after the Company has first examined and erased all Company information.

 

I acknowledge that I have in-depth knowledge of the Company’s intellectual property, business practices, and trade secrets.  In lieu of the non-competition restrictions contained in my Amended and Restated Employment Agreement, I agree that for a period of two (2) years following my Separation Date (the “Restricted Period”), I will not:

 

(a)         directly or indirectly enter into the employ of, render any service to or act in concert with any person, partnership, corporation or other entity that owns, operates, manages, franchises or licenses any casual dining business that features steak prominently on its menu and as part of its restaurant brand (e.g. Outback and Logan’s Steakhouse, but for the purposes of this Agreement, specifically excluding “fine dining” establishments, such as Ruth’s Chris or Morton’s) (a “Competitive Business”);

 

(b)         directly or indirectly engage in any such Competitive Business on her own account; or

 

(c)          become interested in any such Competitive Business directly or indirectly as an individual, partner, shareholder, director, officer, principal, agent, employee, consultant or in any other relationship or capacity; provided, that the purchase of a publicly traded security of a corporation engaged in such business or service shall not in itself be deemed violative of this Agreement so long as Employee does not own, directly or indirectly, more than 1% of the securities of such corporation; or

 

(d)         be employed by, consult with or in any capacity assist or aid California Pizza Kitchen (CPK) or CPK’s officers, mangers or agents.

 

 

I agree that I will not disparage or seek to injure the reputation of the Company, its business, its affiliates, or any of its employees, officers, or directors.   Similarly, the Company agrees that members of its Leadership Team (currently comprised of the Executive Officers and Vice-Presidents of the Company and three Regional Market Partners) and Board of Directors will refrain from making disparaging remarks about me. The provisions of this paragraph are not intended, nor shall they be construed, to limit any person’s ability to testify truthfully pursuant to lawful subpoena or other court, governmental or regulatory agency process.  The Company and I have developed and will follow a mutually-agreeable communication plan relating to my departure from Texas Roadhouse.

 

Except as required in the performance of my duties as an employee of the Company, during my employment with the Company and during the Restricted Period, I will not, directly or indirectly, hire, engage or solicit or induce or attempt to induce to cease working for the Company, any person who is then an employee of the Company or who was an employee of the Company during the six (6) month period immediately preceding my termination of employment with the Company.  The provisions of the immediately preceding sentence shall not be deemed breached or violated by any general advertisement or other solicitation that is not specifically targeted at employees of the Company.

 

Except as required in the performance of my duties as an employee of the Company, during my employment with the Company and during the Restricted Period, I will not, directly or indirectly, solicit, request, advise, induce or attempt to induce any vendor, supplier or other business contact of the Company to cancel, curtail, cease doing business with, or otherwise adversely change its relationship with the Company.

 

I agree that the above covenants are, taken as a whole, reasonable in their geographical scope and duration. If the duration of, the scope of or any of the above covenants is in excess of what is determined to be valid and enforceable under applicable law, such covenants shall be construed to cover only that duration, scope or activity that is determined to be valid and enforceable. I hereby acknowledge that these covenants shall be given the construction that renders them valid and enforceable to the maximum extent, not exceeding its express terms, possible under applicable law. I agree that I will inform any future employer engaged in the restaurant industry of my post-employment restrictions and commitments.

 

I agree to make myself reasonably available to the Company relating to my prior service as an officer and employee of the Company including, but not limited to, assisting the Company and any of its affiliates in connection with any pending or threatened litigation or other legal proceeding with respect to which the Company or such affiliates reasonably determines my participation to be necessary, and responding to questions and inquiries with respect to such prior services in connection with any such proceedings. I understand that the Company will reimburse me for any and all reasonable expenses incurred by me as a result of such participation.

 

The Company and I are parties to an Indemnification Agreement relating to my conduct as General Counsel, which survives the execution of this Agreement and is hereby incorporated by reference in full. With the sole exception of this Indemnification Agreement, I understand that this Agreement sets forth the entire agreement between me and the Company and supersedes any and all Agreements (including any and all prior and contemporaneous oral or written agreements or understandings) that may have previously existed between me and the Company.  I understand that, if any provision of this Agreement is declared or determined to be illegal, invalid, or unenforceable, the validity of the remaining parts, terms, or provisions shall not be affected thereby and any illegal, invalid, or unenforceable part, term, or provision shall be deemed not to be a part of this Agreement.

 

I understand that this Agreement is made and entered into in the Commonwealth of Kentucky, and shall in all respects be interpreted, enforced and governed under the laws of Kentucky. I consent to jurisdiction of any disputes in Jefferson County, Kentucky.

 

I understand that I may take up to 21 days to decide whether to sign this Agreement.  I also understand that, by way of this Agreement, Company has advised me to consult with an attorney before signing this Agreement.  I understand that, even if I sign this Agreement, I can change my mind and revoke this Agreement within 7 days after I sign it by notifying Company in writing of my decision to revoke.  I realize that, if I do not revoke this Agreement during that 7-day period, the Agreement will become enforceable.

 

 

I have carefully considered the terms of this Agreement, and have signed it voluntarily.

 

	
/s/ Jill   Marchant
    	
 
    	
10/31/2013
    
	
Jill Marchant
    	
 
    	
Date
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Acknowledged and   Agreed to
    	
 
    	
 
    
	
on behalf of   Texas Roadhouse Management Corp.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Scott Colosi
    	
 
    	
11/1/2013
    
	
Scott Colosi
    	
 
    	
Date
    
	
President

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