Document:

Exhibit 4.8

    EXHIBIT
      4.8

    

    Exhibit
      1

    

    [Form
      of Series A Senior Note]

     

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR UNDER THE
      SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS
      NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE
      HAS
      BECOME EFFECTIVE UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS
      MAY
      BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR
      AN
      EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER
      SUCH
      ACT AND SUCH LAWS. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
      NOR ANY OTHER FEDERAL OR STATE REGULATORY AUTHORITY HAS PASSED ON OR ENDORSED
      THE MERITS OF THIS NOTE.

    

    International
      Flavors & Fragrances Inc.

    

    5.89%
      Series A Senior Note, due July 12, 2009

    

    
      	
              No.
                RA-[_________]

            	
              [Date]

            
	
              $[_____________]

            	
              PPN:
                459506 A * 2

            

    

    

     

    

      FOR
        VALUE RECEIVED, the undersigned,
        INTERNATIONAL FLAVORS & FRAGRANCES INC. (herein called the
“Company”), a corporation organized and existing under the laws of the
        State of the State of New York, hereby promises to pay to
        [_____________________] or registered assigns, the principal sum of
        [______________] DOLLARS (or so much thereof as shall not have been prepaid)
        on
        July 12, 2009 with interest (computed on the basis of a 360-day year of twelve
        30-day months) (a) on the unpaid balance hereof at the rate of 5.89% per
        annum (subject to the payment of Additional Interest during each Additional
        Interest Period, as such terms are defined in the Note Purchase Agreement
        referred to below) from the date hereof, payable semi-annually, on the 12th
        day
        of July and January in each year and at maturity, commencing with the July
        12 or
        January 12 next succeeding the date hereof, until the principal hereof shall
        have become due and payable, and (b) to the extent permitted by law, at a
        rate per annum from time to time equal to the Default Rate (as defined in
        the
        Note Purchase Agreement referred to below), on any overdue payment of interest
        and, during the continuance of an Event of Default, on the unpaid balance
        hereof
        and on any overdue payment of any Make-Whole Amount (as defined in the Note
        Purchase Agreement referred to below), payable semiannually as aforesaid
        (or, at
        the option of the registered holder hereof, on demand).

       

    

    Payments
      of principal of, interest on
      and any Make-Whole Amount with respect to this Note are to be made in lawful
      money of the United States of America at the principal office of Bank of
      America, N.A. in New York, New York or at such other place as the Company shall
      have designated by written notice to the holder of this Note as provided in
      the
      Note Purchase Agreement referred to below.

     

     

     

    
      
        
        

      

      
        Exhibit
          1-1

        
          

        

      

      
        Table
          of Contents

      

    

     

    This
      Note is one of a series of Senior
      Notes (herein called the “Notes”) issued pursuant to the Note Purchase
      Agreement, dated as of July 12, 2006 (as from time to time amended, supplemented
      or modified, the “Note Purchase Agreement”), between the Company and
      the respective Purchasers named therein and is entitled to the benefits thereof.
      Each holder of this Note will be deemed, by its acceptance hereof, to have
      (i) agreed to the confidentiality provisions set forth in Section 20
      of the Note Purchase Agreement and (ii) made the representations set forth
      in Section 6 of the Note Purchase Agreement (except that, if such holder is
      not the initial holder hereof, it shall be deemed either to have made the
      representations in Sections 6.1(a) and 6.2 or to have represented that it is
      a
      qualified institutional buyer, as defined in Rule 144A under the Securities
      Act,
      in addition to the other representations in Section 6). Unless otherwise
      indicated, capitalized terms used in this Note shall have the respective
      meanings ascribed to such terms in the Note Purchase Agreement.

     

    This
      Note is a registered Note and, as
      provided in the Note Purchase Agreement, upon surrender of this Note for
      registration of transfer, duly endorsed, or accompanied by a written instrument
      of transfer duly executed, by the registered holder hereof or such holder’s
      attorney duly authorized in writing, a new Note for a like principal amount
      will
      be issued to, and registered in the name of, the transferee. Prior to due
      presentment for registration of transfer, the Company may treat the person
      in
      whose name this Note is registered as the owner hereof for the purpose of
      receiving payment and for all other purposes, and the Company will not be
      affected by any notice to the contrary.

     

    This
      Note is subject to optional
      prepayment, in whole or from time to time in part, at the times and on the
      terms
      specified in the Note Purchase Agreement, but not otherwise.

     

    If
      an Event of Default, as defined in
      the Note Purchase Agreement, occurs and is continuing, the principal of this
      Note may be declared or otherwise become due and payable in the manner, at
      the
      price (including any applicable Make-Whole Amount) and with the effect provided
      in the Note Purchase Agreement.

     

    
      
        
        

      

      
        Exhibit
          1-2

        
          

        

      

      
        Table
          of Contents

      

    

     

    

      This
        Note shall be construed and
        enforced in accordance with, and the rights of the issuer and holder hereof
        shall be governed by, the law of the State of New York excluding choice-of-law
        principles of the law of such State that would require the application of
        the
        laws of a jurisdiction other than such State.

    

     

    
      	
              INTERNATIONAL
                FLAVORS & 

              FRAGRANCES
                INC.

               

               

            
	
              By___________________________________________

              Name:

              Title:

            

    

    

    
 

     

    
      
        
        

      

      
        Exhibit
          1-3

        
          

        

      

      
        Table
          of Contents

      

    

    
 

    

    Exhibit
      2

     

    [Form
      of Series B Senior Note]

    

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR UNDER THE
      SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS
      NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE
      HAS
      BECOME EFFECTIVE UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS
      MAY
      BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR
      AN
      EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER
      SUCH
      ACT AND SUCH LAWS. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
      NOR ANY OTHER FEDERAL OR STATE REGULATORY AUTHORITY HAS PASSED ON OR ENDORSED
      THE MERITS OF THIS NOTE.

    

     

    International
      Flavors & Fragrances Inc.

     

    5.96%
      Series B Senior Note, due July 12, 2011

     

    
      	
              No.
                RB-[_________]

            	
              [Date]

            
	
              $[____________]

            	
              PPN:
                459506 A@ 0

            

    

    

     

    FOR
      VALUE RECEIVED, the undersigned,
      INTERNATIONAL FLAVORS & FRAGRANCES INC. (herein called the
“Company”), a corporation organized and existing under the laws of the
      State of the State of New York, hereby promises to pay to
      [_____________________] or registered assigns, the principal sum of
      [______________] DOLLARS (or so much thereof as shall not have been prepaid)
      on
      July 12, 2011 with interest (computed on the basis of a 360-day year of twelve
      30-day months) (a) on the unpaid balance hereof at the rate of 5.96% per
      annum (subject to the payment of Additional Interest during each Additional
      Interest Period, as such terms are defined in the Note Purchase Agreement
      referred to below) from the date hereof, payable semi-annually, on the 12th
      day
      of July and January in each year and at maturity, commencing with the July
      12 or
      January 12 next succeeding the date hereof, until the principal hereof shall
      have become due and payable, (b) to the extent permitted by law, at a rate
      per annum from time to time equal to the Default Rate (as defined in the Note
      Purchase Agreement referred to below), on any overdue payment of interest and,
      during the continuance of an Event of Default, on the unpaid balance hereof
      and
      on any overdue payment of any Make-Whole Amount (as defined in the Note Purchase
      Agreement referred to below), payable semiannually as aforesaid (or, at the
      option of the registered holder hereof, on demand).

     

    Payments
      of principal of, interest on
      and any Make-Whole Amount with respect to this Note are to be made in lawful
      money of the United States of America at the principal office of Bank of
      America, N.A. in New York, New York or at such other place as the Company shall
      have designated by written notice to the holder of this Note as provided in
      the
      Note Purchase Agreement referred to below.

     

     

     

    
      
        
        

      

      
        Exhibit
          2-1

        
          

        

      

      
        Table
          of Contents

      

    

    

 

    This
      Note is one of the Series B Senior
      Notes (herein called the “Notes”) issued pursuant to the Note Purchase
      Agreement, dated as of July 12, 2006 (as from time to time amended, supplemented
      or modified, the “Note Purchase Agreement”), between the Company and
      the respective Purchasers named therein and is entitled to the benefits thereof.
      Each holder of this Note will be deemed, by its acceptance hereof, to have
      (i) agreed to the confidentiality provisions set forth in Section 20
      of the Note Purchase Agreement and (ii) made the representations set forth
      in Section 6 of the Note Purchase Agreement (except that, if such holder is
      not
      the initial holder hereof, it shall be deemed either to have made the
      representations in Sections 6.1(a) and 6.2 or to have represented that it is
      a
      qualified institutional buyer, as defined in Rule 144A under the Securities
      Act,
      in addition to the other representations in Section 6). Unless otherwise
      indicated, capitalized terms used in this Note shall have the respective
      meanings ascribed to such terms in the Note Purchase Agreement.

     

    This
      Note is a registered Note and, as
      provided in the Note Purchase Agreement, upon surrender of this Note for
      registration of transfer, duly endorsed, or accompanied by a written instrument
      of transfer duly executed, by the registered holder hereof or such holder’s
      attorney duly authorized in writing, a new Note for a like principal amount
      will
      be issued to, and registered in the name of, the transferee. Prior to due
      presentment for registration of transfer, the Company may treat the person
      in
      whose name this Note is registered as the owner hereof for the purpose of
      receiving payment and for all other purposes, and the Company will not be
      affected by any notice to the contrary.

     

    This
      Note is subject to optional
      prepayment, in whole or from time to time in part, at the times and on the
      terms
      specified in the Note Purchase Agreement, but not otherwise.

     

    If
      an Event of Default, as defined in
      the Note Purchase Agreement, occurs and is continuing, the principal of this
      Note may be declared or otherwise become due and payable in the manner, at
      the
      price (including any applicable Make-Whole Amount) and with the effect provided
      in the Note Purchase Agreement.

     

     

    
      
        
        

      

      
        Exhibit
          2-2

        
          

        

      

      
        Table
          of Contents

      

    

     

    This
      Note
      shall be construed and enforced in accordance with, and the rights of the issuer
      and holder hereof shall be governed by, the law of the State of New York
      excluding choice-of-law principles of the law of such State that would require
      the application of the laws of a jurisdiction other than such
      State.

     

    
      	
              INTERNATIONAL
                FLAVORS &

              FRAGRANCES
                INC.

            
	
              By________________________________

              Name:

              Title:

            

    

    

     

    
 

    
 

    
      
        
        

      

      
        Exhibit
          2-3

        
          

        

      

      
        Table
          of Contents

      

    

    

     

    Exhibit
      3

    

    [Form
      of Series C Senior Note]

    

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR UNDER THE
      SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS
      NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE
      HAS
      BECOME EFFECTIVE UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS
      MAY
      BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR
      AN
      EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER
      SUCH
      ACT AND SUCH LAWS. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
      NOR ANY OTHER FEDERAL OR STATE REGULATORY AUTHORITY HAS PASSED ON OR ENDORSED
      THE MERITS OF THIS NOTE.

    

     

    International
      Flavors & Fragrances Inc.

     

    6.05%
      Series C Senior Note, due July 12, 2013

     

    
      	
              No.
                RC-[_________]

            	
              [Date]

            
	
              $[____________]

            	
              PPN:
                459506 A# 8

            

    

    

     

    FOR
      VALUE RECEIVED, the undersigned,
      INTERNATIONAL FLAVORS & FRAGRANCES INC. (herein called the
“Company”), a corporation organized and existing under the laws of the
      State of the State of New York, hereby promises to pay to
      [_____________________] or registered assigns, the principal sum of
      [______________] DOLLARS (or so much thereof as shall not have been prepaid)
      on
      July 12, 2013 with interest (computed on the basis of a 360-day year of twelve
      30-day months) (a) on the unpaid balance hereof at the rate of 6.05% per
      annum (subject to the payment of Additional Interest during each Additional
      Interest Period, as such terms are defined in the Note Purchase Agreement
      referred to below) from the date hereof, payable semi-annually, on the 12th
      day
      of July and January in each year and at maturity, commencing with the July
      12 or
      January 12 next succeeding the date hereof, until the principal hereof shall
      have become due and payable, (b) to the extent permitted by law, at a rate
      per annum from time to time equal to the Default Rate (as defined in the Note
      Purchase Agreement referred to below), on any overdue payment of interest and,
      during the continuance of an Event of Default, on the unpaid balance hereof
      and
      on any overdue payment of any Make-Whole Amount (as defined in the Note Purchase
      Agreement referred to below), payable semiannually as aforesaid (or, at the
      option of the registered holder hereof, on demand).

     

    Payments
      of principal of, interest on
      and any Make-Whole Amount with respect to this Note are to be made in lawful
      money of the United States of America at the principal office of Bank of
      America, N.A. in New York, New York or at such other place as the Company shall
      have designated by written notice to the holder of this Note as provided in
      the
      Note Purchase Agreement referred to below.

     

    
      
        
        

      

      
        Exhibit
          3-1

        
          
 

      

      
        Table
          of Contents

      

    

    
       

    

    This
      Note is one of the Series C Senior
      Notes (herein called the “Notes”) issued pursuant to the Note Purchase
      Agreement, dated as of July 12, 2006 (as from time to time amended, supplemented
      or modified, the “Note Purchase Agreement”), between the Company and
      the respective Purchasers named therein and is entitled to the benefits thereof.
      Each holder of this Note will be deemed, by its acceptance hereof, to have
      (i) agreed to the confidentiality provisions set forth in Section 20
      of the Note Purchase Agreement and (ii) made the representations set forth
      in Section 6 of the Note Purchase Agreement (except that, if such holder is
      not
      the initial holder hereof, it shall be deemed either to have made the
      representations in Sections 6.1(a) and 6.2 or to have represented that it is
      a
      qualified institutional buyer, as defined in Rule 144A under the Securities
      Act,
      in addition to the other representations in Section 6). Unless otherwise
      indicated, capitalized terms used in this Note shall have the respective
      meanings ascribed to such terms in the Note Purchase Agreement.

     

    This
      Note is a registered Note and, as
      provided in the Note Purchase Agreement, upon surrender of this Note for
      registration of transfer, duly endorsed, or accompanied by a written instrument
      of transfer duly executed, by the registered holder hereof or such holder’s
      attorney duly authorized in writing, a new Note for a like principal amount
      will
      be issued to, and registered in the name of, the transferee. Prior to due
      presentment for registration of transfer, the Company may treat the person
      in
      whose name this Note is registered as the owner hereof for the purpose of
      receiving payment and for all other purposes, and the Company will not be
      affected by any notice to the contrary.

     

    This
      Note is subject to optional
      prepayment, in whole or from time to time in part, at the times and on the
      terms
      specified in the Note Purchase Agreement, but not otherwise.

     

    If
      an Event of Default, as defined in
      the Note Purchase Agreement, occurs and is continuing, the principal of this
      Note may be declared or otherwise become due and payable in the manner, at
      the
      price (including any applicable Make-Whole Amount) and with the effect provided
      in the Note Purchase Agreement.

     

     

     

    
      
        
        

      

      
        Exhibit
          3-2

        
          

        

      

      
        Table
          of Contents

      

    

     

    This
      Note
      shall be construed and enforced in accordance with, and the rights of the issuer
      and holder hereof shall be governed by, the law of the State of New York
      excluding choice-of-law principles of the law of such State that would require
      the application of the laws of a jurisdiction other than such
      State.

     

    
      	
              INTERNATIONAL
                FLAVORS &

              FRAGRANCES
                INC.

            
	
              By________________________________

              Name:

              Title:

            

    

    

    

    
      
        
        

      

      
        Exhibit
          3-3

        
          

        

      

      
        Table
          of Contents

      

    

    

    

    Exhibit
      4

    

    [Form
      of Series D Senior Note]

    

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR UNDER THE
      SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS
      NOTE MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE
      HAS
      BECOME EFFECTIVE UNDER SUCH ACT, AND SUCH REGISTRATION OR QUALIFICATION AS
      MAY
      BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR
      AN
      EXEMPTION FROM SUCH REGISTRATIONS AND/OR QUALIFICATIONS IS AVAILABLE UNDER
      SUCH
      ACT AND SUCH LAWS. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
      NOR ANY OTHER FEDERAL OR STATE REGULATORY AUTHORITY HAS PASSED ON OR ENDORSED
      THE MERITS OF THIS NOTE.

    

     

    International
      Flavors & Fragrances Inc.

     

    6.14%
      Series D Senior Note, due July 12, 2016

     

    
      	
              No.
                RD-[_________]

            	
              [Date]

            
	
              $[____________]

            	
              PPN:
                459506 B* 1

            

    

    

     

    FOR
      VALUE RECEIVED, the undersigned,
      INTERNATIONAL FLAVORS & FRAGRANCES INC. (herein called the
“Company”), a corporation organized and existing under the laws of the
      State of the State of New York, hereby promises to pay to
      [_____________________] or registered assigns, the principal sum of
      [______________] DOLLARS (or so much thereof as shall not have been prepaid)
      on
      July 12, 2016 with interest (computed on the basis of a 360-day year of twelve
      30-day months) (a) on the unpaid balance hereof at the rate of 6.14% per
      annum (subject to the payment of Additional Interest during each Additional
      Interest Period, as such terms are defined in the Note Purchase Agreement
      referred to below) from the date hereof, payable semi-annually, on the 12th
      day
      of July and January in each year and at maturity, commencing with the July
      12 or
      January 12 next succeeding the date hereof, until the principal hereof shall
      have become due and payable, (b) to the extent permitted by law, at a rate
      per annum from time to time equal to the Default Rate (as defined in the Note
      Purchase Agreement referred to below), on any overdue payment of interest and,
      during the continuance of an Event of Default, on the unpaid balance hereof
      and
      on any overdue payment of any Make-Whole Amount (as defined in the Note Purchase
      Agreement referred to below), payable semiannually as aforesaid (or, at the
      option of the registered holder hereof, on demand).

     

     

    
      
        
        

      

      
        Exhibit
          4-1

        
          

        

      

      
        Table
          of Contents

      

    

     

    Payments
      of principal of, interest on
      and any Make-Whole Amount with respect to this Note are to be made in lawful
      money of the United States of America at the principal office of Bank of
      America, N.A. in New York, New York or at such other place as the Company shall
      have designated by written notice to the holder of this Note as provided in
      the
      Note Purchase Agreement referred to below.

     

    Payments
      of principal of, interest on
      and any Make-Whole Amount with respect to this Note are to be made in lawful
      money of the United States of America at the principal office of Bank of
      America, N.A. in New York, New York or at such other place as the Company shall
      have designated by written notice to the holder of this Note as provided in
      the
      Note Purchase Agreement referred to below.

     

    This
      Note is one of the Series D Senior
      Notes (herein called the “Notes”) issued pursuant to the Note Purchase
      Agreement, dated as of July 12, 2006 (as from time to time amended, supplemented
      or modified, the “Note Purchase Agreement”), between the Company and
      the respective Purchasers named therein and is entitled to the benefits thereof.
      Each holder of this Note will be deemed, by its acceptance hereof, to have
      (i) agreed to the confidentiality provisions set forth in Section 20
      of the Note Purchase Agreement and (ii) made the representations set forth
      in Section 6 of the Note Purchase Agreement (except that, if such holder is
      not
      the initial holder hereof, it shall be deemed either to have made the
      representations in Sections 6.1(a) and 6.2 or to have represented that it is
      a
      qualified institutional buyer, as defined in Rule 144A under the Securities
      Act,
      in addition to the other representations in Section 6). Unless otherwise
      indicated, capitalized terms used in this Note shall have the respective
      meanings ascribed to such terms in the Note Purchase Agreement.

     

    This
      Note is a registered Note and, as
      provided in the Note Purchase Agreement, upon surrender of this Note for
      registration of transfer, duly endorsed, or accompanied by a written instrument
      of transfer duly executed, by the registered holder hereof or such holder’s
      attorney duly authorized in writing, a new Note for a like principal amount
      will
      be issued to, and registered in the name of, the transferee. Prior to due
      presentment for registration of transfer, the Company may treat the person
      in
      whose name this Note is registered as the owner hereof for the purpose of
      receiving payment and for all other purposes, and the Company will not be
      affected by any notice to the contrary.

     

    This
      Note is subject to optional
      prepayment, in whole or from time to time in part, at the times and on the
      terms
      specified in the Note Purchase Agreement, but not otherwise.

     

    If
      an Event of Default, as defined in
      the Note Purchase Agreement, occurs and is continuing, the principal of this
      Note may be declared or otherwise become due and payable in the manner, at
      the
      price (including any applicable Make-Whole Amount) and with the effect provided
      in the Note Purchase Agreement.

     

     

    
      
        
        

      

      
        Exhibit
          4-2

        
          

        

      

      
        Table
          of Contents

      

    

    This
      Note
      shall be construed and enforced in accordance with, and the rights of the issuer
      and holder hereof shall be governed by, the law of the State of New York
      excluding choice-of-law principles of the law of such State that would require
      the application of the laws of a jurisdiction other than such
      State.

     

    
      	
              INTERNATIONAL
                FLAVORS & 

              FRAGRANCES
                INC.

            
	
              By________________________________

              Name:

              Title:

            

    

    

     

     

    
      
        
        

      

      
        Exhibit
          4-3CBRL 8-K Retirement Agreement Exhibit 10.1

    Exhibit 10.1

     

     

    RETIREMENT
      AGREEMENT

     

    THIS
      AGREEMENT (the "Agreement") is made as of this 28th day of July, 2006
      (the "Effective Date"), by and between Cyril J. Taylor, a natural person
      resident in Rutherford County, TN and his heirs, assigns, executors, agents
      and
      representatives (“Taylor”) on the one side, and CBRL Group, Inc. (together with
      its subsidiaries and affiliates hereinafter referred to as “CBRL”) on the
      other;

     

    W
      I T N E S S E T H:

     

    WHEREAS,
      Taylor
      has been employed as the President and Chief Operating Officer of CBRL’s
      wholly-owned subsidiary, Cracker Barrel Old Country Store, Inc. (“Cracker
      Barrel”); and

     

    WHEREAS,
      Taylor
      and CBRL are parties to that certain Employee Retention Agreement (the
      "Retention Agreement"), dated as of March 16, 2006; and

     

    WHEREAS,
      Taylor
      has indicated his desire to retire from his position as President and Chief
      Operating Officer of Cracker Barrel effective the Effective Date;
      and

     

    WHEREAS,
      CBRL
      wishes to secure Taylor's continuing services for a period of time and to
      provide certain other benefits to Taylor in view of his long service to CBRL
      and
      Cracker Barrel; and 

     

    WHEREAS,
      it is
      the desire of Taylor and CBRL to enter into this Agreement to formally terminate
      the Retention Agreement and to resolve all matters arising out of or related
      to
      Taylor's employment with CBRL and Cracker Barrel;

     

    NOW,
      THEREFORE,
      for and
      in consideration of the mutual covenants and promises contained herein, the
      parties hereby agree as follows:

     

    1.   Termination
      of Employment and Retention Agreement.
      This
      confirms that Taylor's employment as an officer of Cracker Barrel and CBRL
      is
      terminated by virtue of his retirement on the Effective Date provided, however,
      that CBRL has requested Taylor to remain employed as an in-house consultant
      to
      CBRL for a period of time as described in Section 2. This Agreement supersedes
      the Retention Agreement, which is hereby wholly terminated and cancelled as
      of
      the date of this Agreement. The respective rights and obligations of the parties
      shall be governed hereafter by the terms of this Agreement.

     

    2.   Consulting;
      Cooperation.
      For a
      period from the Effective Date through and including October 31, 2007 (or such
      earlier date if CBRL terminates the consulting relationship as set forth below;
      the "Consulting Term") CBRL and Taylor agree that he will serve as a consultant
      to CBRL on special projects as requested by Cracker Barrel in all matters
      related to his prior employment as an officer with Cracker Barrel. In addition,
      Taylor agrees that he will at all times both during and after the expiration
      of
      the Consulting Term cooperate with CBRL and its attorneys in connection with
      any

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        
threatened
        or pending litigation against CBRL or any matters related to his prior
        employment as an officer with CBRL. If Taylor fails or refuses to provide
        the
        consulting services provided in this Section 2, CBRL may terminate the
        consulting arrangement. 

    

     

    3.   Salary
      Continuation.
      During
      the Consulting Term, but subject to early termination pursuant to Section 11,
      CBRL will pay Taylor the sum of Five Hundred Ninety-Three Thousand Seven Hundred
      Fifty and 00/100 Dollars ($593,750) less applicable deductions required by
      law,
      which shall be payable at the rate of Nineteen Thousand Seven-Hundred Ninety-One
      and 67/100 Dollars ($19,791.67), semi-monthly, beginning the week of August
      15,
      2006, in accordance with CBRL’s regular payroll policies. In addition, CBRL
      shall reimburse Taylor for his reasonable out-of-pocket expenses in connection
      with his activities and the services that he is requested to perform under
      Section 2; provided that the request for reimbursement of such expenses is
      accompanied by documentation satisfactory to CBRL and, provided further, that
      any expense in excess of $500.00 must be approved in advance in writing by
      CBRL.

     

    4.   Stock
      Options and Restricted Stock.
      As of
      the Effective Date, Taylor had vested options remaining to purchase Fifty-Nine
      Thousand Two Hundred Seventy-Five (59,275) shares of CBRL common stock (the
      “Vested Options”). In addition, if Taylor serves as a consultant to CBRL through
      the entire fifteen-month Consulting Term and subject to Section 11: (a)
      additional options to purchase Thirty-Six Thousand Two Hundred Thirty-One
      (36,231) shares of CBRL common stock (the “Potential Options") shall vest and
      become exercisable; (b) Four Thousand Two Hundred Eighty-Nine (4,289) restricted
      shares of CBRL common stock (the “2005 MTIRP Shares”) awarded under CBRL’s 2005
      Long Term Incentive Plan (the “2005 Plan”) will vest on August 3, 2007 and will
      be distributed (along with any accrued dividends) to Taylor pursuant to the
      terms of the 2005 Plan, and (c) the restricted shares valued at $207,812 (actual
      number to be determined by the share price on 7-28-06) which are to be awarded
      under the 2006 Long Term Incentive Plan (the “2006 Plan”) that are scheduled to
      vest on August 4, 2008 (the “2006 MTIRP Shares”) will be distributed (along with
      any accrued dividends) to Taylor pursuant to the terms of the 2006 Plan; (the
      2005 MTIRP Shares and the 2006 MTIRP Shares are referred to collectively
      hereafter as the “MTIRP Shares”). The Vested Options include options to purchase
      Fifteen Thousand Nine Hundred Ten (15,910) shares of common stock that were
      granted pursuant to the CBRL 2002 Omnibus Incentive Compensation Plan (the
      “Vested Omnibus Options”). Vested Options other than the Vested Omnibus Options
      may be exercised on or before the date that is ninety (90) days after the last
      day of the Consulting Term in accordance with the provisions of CBRL's Amended
      and Restated Stock Option Plan dated as of October 9, 1998. The Vested Omnibus
      Options and any Potential Options that vest during the Consulting Term may
      be
      exercised prior to their respective dates of expiration. Taylor hereby
      relinquishes any right to exercise any rights or options that he has to acquire
      or purchase CBRL common stock other than the Vested Options, the MTIRP Shares
      and any Potential Options that vest during the Consulting Term and specifically
      relinquishes the March 16, 2006 grant of 10,000 restricted shares of CBRL common
      stock. The terms and provisions of this Agreement shall supersede and control
      over any of the terms and provisions of any agreement between Taylor and CBRL
      with respect to any rights to receive or options to purchase CBRL’s common
      stock. 

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    5.    Benefits
      and Other Matters.

     

    5.1.  Until
      the
      earlier of: (a) the end of the Consulting Term or (b) Taylor's obtaining other
      employment at which he receives health insurance benefits irrespective of their
      scope and coverage, CBRL, subject to Taylor's payment of contributions
      applicable to plan participants, shall continue to provide all group health
      and
      life insurance benefits for Taylor and his dependents at the same level as
      for
      other CBRL senior level executives. Afterwards, CBRL will have no obligation
      to
      provide further life insurance benefits, but upon payment of the appropriate
      premiums, Taylor will have the right to continue his participation in CBRL's
      group health coverage plan under the applicable COBRA regulations. Taylor shall
      not be entitled to any other benefits as a consultant to CBRL.

     

    5.2.  Taylor
      will
      be paid any bonus earned under the CBRL FY2006 Annual Bonus Plan in accordance
      with the terms of that plan.

     

    5.3.  Taylor
      will be reimbursed for any reasonable and pre-approved out-of-pocket expenses
      incurred through the Effective Date in accordance with CBRL's or Cracker
      Barrel’s travel and entertainment reimbursement guidelines, provided that
      request for reimbursement is made on or before thirty days after the Effective
      Date.

     

    5.4.  Taylor
      acknowledges that the consideration set forth in this Agreement is over and
      above any payment or benefits to which he is legally entitled absent this
      Agreement.

     

    6.    Taylor's
      Release.
      Taylor
      hereby generally releases and discharges CBRL and Cracker Barrel and each of
      their respective predecessors, successors (by merger or otherwise), parents,
      subsidiaries, affiliated entities, divisions and assigns, together with each
      and
      every of their present, past and future officers, directors, shareholders,
      general partners, limited partners, employees and agents and the heirs and
      executors of same (herein collectively referred to as the “Company Group”) from
      any and all suits, causes of action, complaints, obligations, demands, or claims
      of any kind, whether in law or in equity, direct or indirect, known or unknown
      (hereinafter “claims”), which Taylor ever had, now has, or may have against
      CBRL, Cracker Barrel, the Company Group or any one of them arising out of or
      relating to any matter, thing or event occurring up to and including the date
      of
      this Agreement. Taylor’s release specifically includes, but is not limited
      to:

     

    
      	(a)  	
              Any
                and all claims for wages and benefits including, without limitation,
                salary, stock, commissions, royalties, license fees, health and welfare
                benefits, severance pay, vacation pay, and bonuses;
                

            

    

     

    
      	(b)  	
                
                Any and all claims for wrongful discharge and breach of contract
                whether
                express or implied, and implied covenants of good faith and fair
                dealing;

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

       

    

    
      	(c)  	
              Any
                and all claims for alleged employment discrimination on the basis
                of age,
                race, color, religion, sex, national origin, veteran status, disability
                and/or handicap, and any and all claims for violation of any federal,
                state or local statute, ordinance, judicial precedent or executive
                order,
                including but not limited to claims under the following statutes:
                Title
                VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e et seq.,
                the Civil Rights Act of 1866, 42 U.S.C. §1981, the Age Discrimination in
                Employment Act, as amended, 29 U.S.C. §621 et seq.,
                the Older Workers Benefit Protection Act, 29 U.S.C. §626(f), the Americans
                with Disabilities Act, 42 U.S.C. §12101 et seq.,
                the Family and Medical Leave Act of 1993, as amended, the Fair Labor
                Standards Act, as amended, the Employee Retirement Income Security
                Act of
                1974, as amended, and the Tennessee Human Rights Act or any comparable
                statute;

            

    

     

    
      	(d)  	
              Any
                and all claims in tort (including but not limited to any claims for
                misrepresentation, defamation, interference with contract or prospective
                economic advantage, intentional or negligent infliction of emotional
                distress, duress, loss of consortium, invasion of privacy and
                negligence);

            

    

     

    
      	(e)  	
              Any
                and all claims for attorneys’ fees and costs;
                and

            

    

     

    
      	(f)  	
              Any
                and all other claims for damages, including compensatory and punitive
                damages.

            

    

     

    7.   Acknowledgment.
      Taylor
      agrees that none of CBRL, Cracker Barrel nor any member of the Company Group
      has
      breached any oral or written contract that may have existed between Taylor
      and
      CBRL, Cracker Barrel or any member of the Company Group with respect to his
      employment or termination of employment nor has any of CBRL, Cracker Barrel
      or
      any member of the Company Group violated any law, statute, rule regulation
      or
      ordinance of any governmental authority relating to employment. Taylor
      acknowledges that the payments and other consideration paid hereunder can not
      and shall not be construed as any admission of liability or wrongdoing on the
      part of either CBRL or any member of the Company Group. Taylor further
      acknowledges and agrees that the payments and other benefits being received
      by
      him pursuant to this Agreement satisfy any claim that he might have had under
      the Retention Agreement or any other CBRL or Cracker Barrel policy or practice.
      Taylor understands that the release set forth in this Agreement extends to
      all
      of the aforementioned claims and potential claims which arose on or before
      the
      date of the execution of this Agreement, whether now known or unknown, suspected
      or unsuspected, and his participation as a member of any class asserting any
      such claims, and that this acknowledgement and release constitute 

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        
essential
        terms of this Agreement. Taylor understands and acknowledges the significance
        and consequence of this Agreement and of each specific release and waiver,
        and
        expressly consents that this Agreement shall be given full force and effect
        according to each and all of its express terms and provisions, including
        those
        relating to unknown and unsuspected claims, demands, obligations, and causes
        of
        action, if any, as well as those relating to any other claims, demands,
        obligations or causes of action herein above-specified. 

    

     

    8.    Reinstatement.
      Taylor
      hereby waives any right or claim he may have to employment, re-instatement,
      re-assignment or re-employment with CBRL, Cracker Barrel or the Company Group
      other than the consulting arrangement described and set forth in Section 2
      of
      this Agreement. Taylor acknowledges and agrees that he has no right to be
      retained beyond the Consulting Term and CBRL is retaining him for a discreet
      and
      limited engagement. Taylor's acknowledgement and agreement as to these matters
      are material inducements for CBRL's making certain other of its agreements
      including, without limitation, the payments in Section 3.

     

    9.    Publicity;
      No Disparaging Statements.

     

    9.1.  Taylor
      agrees that he shall not make or authorize any disparaging communications with
      respect to, or take any actions detrimental to the interests of, CBRL, Cracker
      Barrel, any member of the Company Group or any of their respective officers,
      directors or employees, past or present. To the extent that the foregoing
      prohibition might be applicable, it is not intended to prevent Taylor from
      giving testimony pursuant to compulsory process of law.

     

    9.2.  At
      any
      time following the Effective Date, CBRL shall not make any public statements,
      announcements or disclosures, except as may be required by law, of any
      information detrimental to Taylor. The determination whether any disclosure
      is
      required by law shall be made by CBRL in its sole discretion.

     

    10.   Business
      Protection Provisions.

     

    10.1.  Preamble.
      As a material inducement to CBRL to enter into this Agreement, and its
      recognition of the valuable experience, knowledge and proprietary information
      Taylor gained from his employment with Cracker Barrel, Taylor warrants and
      agrees he will abide by and adhere to the following business protection
      provisions in this Section 10 and all sub-sections thereof.

     

    10.2.  Definitions.
      For purposes of this Section 10 and all sub-sections thereof, the following
      terms shall have the following meanings:

     

    
      	
                 
                (a)   

            	
              "Competitive
                Position" shall mean any employment, consulting, advisory, directorship,
                agency, promotional or independent contractor arrangement between
                Taylor
                and any person or Entity engaged wholly or in material part in the
                restaurant or retail business that is the same or similar to that
                in which
                CBRL, Cracker Barrel or any of their respective subsidiaries or affiliates
                (collectively the "CBRL Entities") is engaged whereby Taylor is required
                to or does perform services on behalf of or for the benefit of such
                person
                or Entity which are substantially similar to the
                

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              services
                in which Taylor participated or that he directed or oversaw while
                employed
                by Cracker Barrel. Without limiting the generality of the foregoing,
                the
                following companies and concepts would be included within those that
                would
                be deemed the same or similar to CBRL Entities and/ or the businesses
                in
                which the CBRL Entities are engaged: Advantica Restaurants, Applebee's
                International, International House of Pancakes, Avado Brands, Inc.,
                Bob
                Evans Farms, Brinker International, Cheesecake Factory, Inc., Darden
                Restaurants, Inc., Denny’s, Eateries, Inc., O'Charley's, Outback
                Steakhouse, RARE Hospitality and
                Shoney’s.

            

    

     

    
      	(b)
               	
              "Confidential
                Information" shall mean the proprietary or confidential data, information,
                documents or materials (whether oral, written, electronic or otherwise)
                belonging to or pertaining to the CBRL Entities, other than "Trade
                Secrets" (as defined below), which is of tangible or intangible value
                to
                any of the CBRL Entities and the details of which are not generally
                known
                to the competitors of the CBRL Entities. Confidential Information
                shall
                also include: any items that any of the CBRL Entities have marked
                "CONFIDENTIAL" or some similar designation or are otherwise identified
                as
                being confidential.

            

    

     

    
      	(c)  	
              "Entity"
                or "Entities" shall mean any business, individual, partnership, joint
                venture, agency, governmental agency, body or subdivision, association,
                firm, corporation, limited liability company or other entity of any
                kind.

            

    

     

    
      	(d) 
               	
              "Restricted
                Period" shall mean the thirty (30) month period following the Effective
                Date; provided, however that the Restricted Period shall be extended
                for a
                period of time equal to any period(s) of time within the thirty (30)
                month
                period following the Effective Date that Taylor is determined by
                a final
                non-appealable judgment from a court of competent jurisdiction to
                have
                engaged in any conduct that violates this Section 10 or any sub-sections
                thereof, the purpose of this provision being to secure for the benefit
                of
                CBRL and Cracker Barrel the entire Restricted Period being bargained
                for
                by CBRL for the restrictions upon Taylor's
                activities.

            

    

     

    
      	(e) 
               	
              "Territory"
                shall mean each of the United States of
                America.

            

    

     

    
      	(f) 
               	
              "Trade
                Secrets" shall mean information or data of or about any of the CBRL
                Entities, including, but not limited to, technical or non-technical
                data,
                recipes, formulas, patterns, compilations, programs (e.g., advertising
                or
                promotional schedules), devices, methods, techniques, drawings, processes,
                financial data, financial plans, product plans or lists of actual
                or
                potential suppliers that: 

            

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              (1)
                derives economic value, actual or potential, from not being generally
                known to, and not being readily ascertainable by proper means by,
                other
                persons who can obtain economic value from its disclosure or use;
                (2) is
                the subject of efforts that are reasonable under the circumstances
                to
                maintain its secrecy; and (3) any other information which is defined
                as a
                "trade secret" under applicable
                law.

            

    

     

    
      	 (g) 
               	
              "Work
                Product" shall mean all tangible work product (e.g., menus, advertising
                materials), property, data, documentation, "know-how," concepts or
                plans,
                inventions, improvements, techniques and processes relating to the
                CBRL
                Entities that were conceived, discovered, created, written, revised
                or
                developed by Taylor during the term of his employment with Cracker
                Barrel.

            

    

     

    10.3
      .  Nondisclosure;
      Ownership of Proprietary Property.

     

    
      	 	
              (a)

            	
              In
                recognition of the need of the CBRL Entities to protect their legitimate
                business interests, Confidential Information and Trade Secrets, Taylor
                hereby covenants and agrees that Taylor shall regard and treat Trade
                Secrets and all Confidential Information as strictly confidential
                and
                wholly-owned by the CBRL Entities and shall never,
                for any reason, in any fashion, either directly or indirectly, use,
                sell,
                lend, lease, distribute, license, give, transfer, assign, show, disclose,
                disseminate, reproduce, copy, misappropriate or otherwise communicate
                any
                such item or information to any third party or Entity for any purpose
                other than in accordance with this Agreement or as required by applicable
                law, court order or other legal
                process.

            

    

     

    
      	 	
              (b)

            	
              Taylor
                shall exercise best efforts to ensure the continued confidentiality
                of all
                Trade Secrets and Confidential Information, and he shall immediately
                notify CBRL of any unauthorized disclosure or use of any Trade Secrets
                or
                Confidential Information of which Taylor becomes aware. Taylor shall
                assist the CBRL Entities, to the extent necessary, in the protection
                of or
                procurement of any intellectual property protection or other rights
                in any
                of the Trade Secrets or Confidential
                Information.

            

    

     

    
      	 	
              (c)

            	
              All
                Work Product shall be owned exclusively by the CBRL Entities. To
                the
                greatest extent possible, any Work Product shall be deemed to be
                "work
                made for hire" (as defined in the Copyright Act, 17 U.S.C. §§ 101 et seq.,
                as amended), and Taylor hereby unconditionally and irrevocably transfers
                and assigns to the applicable CBRL Entity all right, title and interest
                Taylor currently has or may have by operation of law or otherwise
                in or to
                any  

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
              Work
                Product, including, without limitation, all patents, copyrights,
                trademarks (and the goodwill associated therewith), trade secrets,
                service
                marks (and the goodwill associated therewith) and other intellectual
                property rights. Taylor agrees to execute and deliver to the applicable
                CBRL Entity any transfers, assignments, documents or other instruments
                which CBRL may deem necessary or appropriate, from time to time,
                to
                protect the rights granted herein or to vest complete title and ownership
                of any and all Work Product, and all associated intellectual property
                and
                other rights therein, exclusively in the applicable CBRL
                Entity.

            

    

     

    
      	 	
              (d)

            	
              Taylor
                also recognizes that all writings, illustrations, drawings and other
                similar materials which embody or otherwise contain Trade Secrets,
                Confidential Information or Work Product that any CBRL Entity may
                have
                produced during his employment or which may have been given to Taylor
                in
                connection with his employment are the property of CBRL and/or Cracker
                Barrel, and it is Taylor's obligation to immediately return any such
                materials to CBRL and/or Cracker Barrel, as the case may
                be.

            

    

     

    10.4.  Non-Interference
      With Executives; Non-solicitation of Employees. Taylor recognizes and
      acknowledges that, as a result of his employment by Cracker Barrel, he has
      become familiar with and has acquired knowledge of confidential information
      and
      certain other information regarding the other executives and employees of the
      CBRL Entities. Therefore, Taylor agrees that, during the Restricted Period,
      Taylor shall not encourage, solicit or otherwise attempt to persuade any person
      in the employment of the CBRL Entities to end his/her employment with a CBRL
      Entity or to violate any confidentiality, non-competition or employment
      agreement that such person may have with a CBRL Entity or any policy of any
      CBRL
      Entity. Furthermore, neither Taylor nor any person acting in concert with Taylor
      nor any of Taylor's affiliates shall, during the Restricted Period, employ
      any
      person who has been an employee of any CBRL Entity unless that person has ceased
      to be an employee of the CBRL Entities for at least six (6) months. Taylor
      also
      shall not communicate in any manner whatsoever, whether directly or indirectly,
      with any employee of a CBRL Entity on the topic of the individual's employment
      with a CBRL Entity, his or her plans for employment in the future, or his or
      her
      employment with any other entity, other than to say Taylor is unable to engage
      in any discussions,

     

    10.5.  Non-competition;
      Standstill. Taylor covenants and agrees to not obtain or work in a Competitive
      Position within the Territory during the Restricted Period. Taylor further
      agrees that, during the Restricted Period, he will not in any manner (i)
      acquire, agree to acquire, or make any proposal (or request permission to make
      any proposal) to acquire any securities (or direct or indirect rights, warrants,
      or options to acquire any securities) or property (including the stock or assets
      of any of CBRL’s subsidiaries) of CBRL (other than property transferred in

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    the
      ordinary course of CBRL's business), unless such acquisition, agreement, or
      making of a proposal shall have been expressly first approved by (or in the
      case
      of a proposal, expressly first invited by) CBRL's Board of Directors, (ii)
      solicit proxies from CBRL’s shareholders or otherwise seek to influence or
      control the management or policies of CBRL or any of its affiliates or
      subsidiaries, or (iii) assist (including by knowingly providing or arranging
      financing for that purpose) any other person or Entity in doing any of the
      foregoing. Taylor and CBRL recognize and acknowledge that the scope, area and
      time limitations contained in this Agreement are reasonable and are properly
      required for the protection of the business interests of CBRL due to Taylor's
      status and reputation in the industry and the knowledge to be acquired by Taylor
      through his association with CBRL’s and Cracker Barrel's business and the
      public's close identification of Taylor with Cracker Barrel and Cracker Barrel
      with Taylor. Further, Taylor acknowledges that his skills are such that he
      could
      easily find alternative, commensurate employment or consulting work in his
      field
      that would not violate any of the provisions of this Agreement. Taylor
      acknowledges and understands that, as consideration for his execution of this
      Agreement and his agreement with the terms of this covenant not to compete,
      Taylor will receive a consulting agreement with and other benefits from CBRL
      in
      accordance with this Agreement.

     

    11.    Remedies. Taylor
      understands and acknowledges that his violation of Section 9.1 or Section 10
      or
      any sub-section thereof would cause irreparable harm to CBRL and Cracker Barrel
      and CBRL would be entitled to an injunction by any court of competent
      jurisdiction enjoining and restraining Taylor from any employment, service,
      or
      other act prohibited by this Agreement The parties agree that nothing in this
      Agreement shall be construed as prohibiting CBRL from pursuing any remedies
      available to it for any breach or threatened breach of Section 9.1 or Section
      10
      or any sub-section thereof, including, without limitation, the recovery of
      damages from Taylor or any person or entity acting in concert with Taylor.
      CBRL
      or Cracker Barrel shall receive injunctive relief without the necessity of
      posting bond or other security, such bond or other security being hereby waived
      by Taylor. If any part of Section 9.1 or Section 10 or any sub-section thereof
      is found to be unreasonable, then it may be amended by appropriate order of
      a
      court of competent jurisdiction to the extent deemed reasonable. Furthermore
      and
      in recognition that certain provisions in this Agreement are being agreed to
      by
      CBRL in reliance upon Taylor's compliance with Sections 9.1 and 10, in the
      event
      of a breach by Taylor of any of the provisions of Section 9.1 or Section 10
      or
      any sub-sections thereof, damages to CBRL would be difficult to determine and,
      in the event of such breach by Taylor, the Consulting Term shall immediately
      terminate without any action on the part of CBRL and: (a) CBRL shall be released
      from its obligation to make any further payments to Taylor under Section 3
      hereof; (b) CBRL shall be released from its obligations under Section 9.2
      hereof, (c) CBRL shall be released from its obligations to provide benefits
      under Section 5 hereof; and (d) the MTIRP Shares and the Potential Options
      shall
      cease to vest as of the date of such breach, be immediately forfeited and
      thereafter not be distributed to Taylor, in the case of the MTIRP Shares, or
      exercisable by Taylor, in the case of the Potential Options. If CBRL brings
      suit
      to compel performance of, to interpret, or to recover damages for the breach
      of
      this Agreement, CBRL, if it prevails, shall be entitled 

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    to
      recover its reasonable attorneys’ fees in addition to costs and necessary
      disbursements otherwise recoverable. Additionally, if Taylor breaches any of
      the
      provisions of Section 10 or such provisions are declared unenforceable by a
      court of competent jurisdiction, any payment made pursuant to Section 3 as
      well
      as the value of any Potential Options and MTIRP Shares that are received by
      Taylor shall be disgorged to CBRL by Taylor on a pro-rata basis based upon
      the
      number of months during the Restricted Period during which he violated the
      provisions of Section 10 or, in the event such provisions are declared
      unenforceable, the number of months during the Restricted Period that CBRL
      did
      not receive their benefit as a result of the actions of Taylor.

     

    12.    No
      Admissions.
      Neither
      the execution of this Agreement by CBRL nor the terms hereof constitutes an
      admission by CBRL, or by any agent or employee of CBRL or the Company Group,
      of
      liability or unlawful conduct in any manner.

     

    13.    Entire
      Agreement.
      This
      Agreement contains the entire agreement of the parties with respect to the
      subject matter hereof, and shall be binding upon their respective heirs,
      executors, administrators, successors and assigns. In addition, although not
      a
      party to this Agreement, Cracker Barrel is an intended third party beneficiary
      of this Agreement and entitled to enforce against Taylor any of the provisions
      of this Agreement.

     

    14.    Severability.
      If any
      term or provision of this Agreement shall be held to be invalid or unenforceable
      for any reason, then such term or provision shall be ineffective to the extent
      of such invalidity or unenforceability without invalidating the remaining terms
      or provisions hereof, and such term or provision shall be deemed modified to
      the
      extent necessary to make it enforceable.

     

    15.    Advice
      of Counsel; Revocation Period.
      Taylor
      represents and warrants: 

     

    
      	 	
              (a)

            	
              That
                he has had up to twenty-one (21) days to consider this Agreement,
                and has
                decided to enter into it; signing prior to the expiration of the
                twenty-one (21) day period constitutes a waiver of his right to the
                additional time period;

            

    

     

    
      	 	
              (b)

            	
              That
                he has carefully read this Agreement, and understands its contents,
                meaning and intent; 

            

    

     

    
      	 	
              (c)

            	
              That,
                understanding this document, he has freely and voluntarily executed
                it
                with the advice of counsel aforesaid, without compulsion, coercion
                or
                duress; and

            

    

     

    
      	 	
              (d)

            	
              That
                he has seven (7) days following his execution of this Agreement to
                revoke
                his acceptance of the Agreement, and that the Agreement will not
                become
                effective until the revocation period has expired. If he wishes to
                

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              revoke
                this Agreement, he must notify N.B. Forrest Shoaf, Senior Vice President,
                General Counsel and Secretary, CBRL Group, Inc., Lebanon, TN 37086,
                in
                writing within seven (7) days following the execution of this Agreement;
                and

            

    

     

    
      	 	
              (e)

            	
              Taylor
                understands and acknowledges that the Agreement is a legally binding
                release, and that seven (7) days after he signs it, unless revoked
                during
                the seven (7) day revocation period in this Section, that he will
                be
                barred from seeking or obtaining, directly or indirectly, any relief
                or
                recovery of any kind for or based on any of the claims released and
                forever discharged in this
                Agreement.

            

    

     

    16.   Amendments.
      Neither
      this Agreement nor any term hereof may be orally changed, waived, discharged,
      or
      terminated, and may be amended only by a written agreement signed by both of
      the
      parties hereto.

     

    17.    Governing
      Law.
      This
      Agreement shall be governed by the laws of the State of Tennessee without regard
      to the conflict of law principles of any jurisdiction.

     

    18.    Legally
      Binding.
      The
      terms of this Agreement contained herein are contractual and not mere
      recitals.

     

    IN
      WITNESS WHEREOF,
      the
      parties acknowledging that they are acting of their own free will have
      voluntarily caused the execution of this Agreement as of this day and year
      written below.

     

    TAYLOR
      ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT, UNDERSTANDS IT, AND IS VOLUNTARILY
      ENTERING INTO IT.

     

    PLEASE
      READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ANY AND ALL KNOWN AND
      UNKNOWN CLAIMS.

     

     

    
      	 	 /s/
              Cyril J. Taylor                   
	 	 Cyril
              J. Taylor
	 	 
	 	 Date: 
              July 12, 2006                    
	 	 
	 	 
	 	 CBRL GROUP, INC.
	 	 
	 	By: 
              /s/ Michael A. Woodhouse          
	 	Title: 
              President and Chief Executive Officer      
	 	 
	 	 Date:  July 12, 2006                    

    

     

    
 

    
      
         

      

      
        11

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