Document:

ex10_30.htm

     

    Exhibit 10.30

    
      

      

      

      

      

      

      

      

      

      
        
          

        

      

      

      

      

      DENNY’S

      CORPORATE
INCENTIVE PLAN

      

      

      

      

      

      
        
          

        

      

      

      

       

       

       

       

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      TABLE
OF CONTENTS

      
         

        
          
            	
                    ARTICLE
      1  ESTABLISHMENT OF
      PLAN.....................................................................................................................................................................................................................................................

                  	
                    1

                  
	
                    1.1

                  	
                    Background.................................................................................................................................................................................................................................................................................................

                  	
                    1

                  
	
                    1.2

                  	
                    Purpose........................................................................................................................................................................................................................................................................................................

                  	
                    1

                  
	
                    1.3

                  	
                    Effective
      Date.............................................................................................................................................................................................................................................................................................

                  	
                    1

                  
	
                    ARTICLE
      2  DEFINITIONS................................................................................................................................................................................................................................................................................

                  	
                    2

                  
	
                    2.1

                  	
                    Definitions..................................................................................................................................................................................................................................................................................................

                  	
                    2

                  
	
                    ARTICLE
      3  ADMINISTRATION...................................................................................................................................................................................................................................................................

                  	
                    3

                  
	
                    3.1

                  	
                    Committee...................................................................................................................................................................................................................................................................................................

                  	
                    3

                  
	
                    3.2

                  	
                    Authority
      of
      Committee...........................................................................................................................................................................................................................................................................

                  	
                    3

                  
	
                    3.3

                  	
                    Decisions
      Binding.....................................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    ARTICLE
      4  ELIGIBILITY.................................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    4.1

                  	
                    Designation
      of
      Participants.....................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    4.2

                  	
                    Partial
      Year
      Participation..........................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    4.3

                  	
                    Demotions..................................................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    ARTICLE
      5  OPERATION OF THE
      PLAN.....................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    5.1

                  	
                    Plan
      Structure............................................................................................................................................................................................................................................................................................

                  	
                    4

                  
	
                    5.2

                  	
                    Establishment
      of Target
      Bonuses..........................................................................................................................................................................................................................................................

                  	
                    5

                  
	
                    5.3

                  	
                    Company
      Performance
      Objectives.........................................................................................................................................................................................................................................................

                  	
                    5

                  
	
                    5.4

                  	
                    Individual
      Performance
      Objectives........................................................................................................................................................................................................................................................

                  	
                    5

                  
	
                    5.5

                  	
                    Threshold
      Performance Goal and Individual Award
      Limits...............................................................................................................................................................................................................

                  	
                    6

                  
	
                    5.6

                  	
                    Payout
      Form and
      Timing.........................................................................................................................................................................................................................................................................

                  	
                    6

                  
	
                    5.7

                  	
                    Terminations
      of
      Employment..................................................................................................................................................................................................................................................................

                  	
                    6

                  
	
                    5.8

                  	
                    Change
      in
      Control.....................................................................................................................................................................................................................................................................................

                  	
                    6

                  
	
                    ARTICLE
      6  AMENDMENT, MODIFICATION AND
      TERMINATION...................................................................................................................................................................................................

                  	
                    7

                  
	
                    6.1

                  	
                    Amendment,
      Modification and
      Termination.........................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    6.2

                  	
                    Termination
      After or During Plan
      Year..................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    ARTICLE
      7  GENERAL
      PROVISIONS.............................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    7.1

                  	
                    No
      Right to
      Participate.............................................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    7.2

                  	
                    No
      Right to
      Employment..........................................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    7.3

                  	
                    Withholding...............................................................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    7.4

                  	
                    Funding.......................................................................................................................................................................................................................................................................................................

                  	
                    7

                  
	
                    7.5

                  	
                    Expenses.....................................................................................................................................................................................................................................................................................................

                  	
                    8

                  
	
                    7.6

                  	
                    Titles
      and
      Headings..................................................................................................................................................................................................................................................................................

                  	
                    8

                  
	
                    7.7

                  	
                    Gender
      and
      Number..................................................................................................................................................................................................................................................................................

                  	
                    8

                  
	
                    7.8

                  	
                    Governing
      Law...........................................................................................................................................................................................................................................................................................

                  	
                    8

                  
	
                    7.9

                  	
                    2008
      Omnibus Plan
      Controls....................................................................................................................................................................................................................................................................

                  	
                    8

                  

          

          
 

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      DENNY’S

      CORPORATE
INCENTIVE PLAN

      

      

      ARTICLE
1

      ESTABLISHMENT
OF PLAN

      

      1.1           BACKGROUND.  This
Denny’s Corporate Incentive Plan (the “Corporate Incentive Plan” or the “Plan”)
is a subplan of the Denny’s Corporation 2008 Omnibus Incentive Plan (“2008
Omnibus Plan”) or any successor plan thereto, consisting of a program for the
grant of annual Performance-Based Cash Awards under Article 9 of the 2008
Omnibus Plan.  This Plan has been established and approved, and will
be administered by, the Committee pursuant to the terms of the 2008 Omnibus
Plan, including without limitation, Section 14.11 thereof.  It is
intended that the Performance Bonuses earned under this Plan shall be Qualified
Performance-Based Awards with respect to Participants who are Covered Employees,
with the intent that the Performance Bonuses will be fully deductible by the
Company without regard to the limitations of Code Section 162(m).  The
applicable Award limits of Section 5.4 of the 2008 Omnibus Plan shall apply with
respect to this Plan.  As of the Effective Date, Section 5.4 of the
2008 Omnibus Plan provides that the maximum aggregate amount that may be paid
with respect to cash-based Awards under the 2008 Omnibus Plan to any one
Participant in any fiscal year of the Company is
$4,500,000.  Notwithstanding the foregoing, for purposes of awards
granted to Nelson Marchioli, the Company’s President and Chief Executive
Officer, the Plan shall be considered to be a subplan of the Denny’s Corporation
2004 Omnibus Incentive Plan (“2004 Omnibus Plan”), and all references herein to
the 2008 Omnibus Plan shall be deemed to be a reference to the 2004 Omnibus
Plan.

      

      1.2.           PURPOSE.  The
purpose of this Plan is to provide for the payment of annual cash bonuses to
eligible employees of the Company, the payment of which will be based on the
achievement of one or more Performance Objectives during a Plan
Year.  The Plan shall remain in effect for successive Plan Years
unless and until terminated by the Committee pursuant to Article
6.  Unless otherwise specified by the Committee, the Performance
Objectives include Company Performance Objectives, Individual Performance
Objectives and Threshold EBITDA Performance.  Company Performance
Objectives are designed to focus on overall corporate financial or operational
results that drive shareholder value.  Individual Performance
Objectives are intended to measure individual goals and competencies and to
motivate and reward outstanding individual performance.  Threshold
EBITDA Performance, which applies only to Covered Employees, requires that the
Company achieve a threshold EBITDA target before any incentive awards will be
payable to any Covered Employees under the Plan.

      

      1.3.           EFFECTIVE DATE.  This Plan was
approved by the Committee on January 26, 2010, to be effective as of the
beginning of Plan Year 2010.

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
2

      DEFINITIONS

      

      2.1.           DEFINITIONS.  Capitalized
terms used herein and not otherwise defined shall have the meanings assigned to
such terms in the 2008 Omnibus Plan.  In addition, the following terms
shall have the following meanings for purposes of this Plan, unless the context
in which they are used clearly indicates that some other meaning is
intended.

      

      Committee.  The
Compensation and Incentives Committee of the Board of Directors of the
Company.

      

      Company Performance
Objectives.  The Company Performance Objectives established by
the Committee for a Plan Year, as provided in Article 5.

      

      Company.  Denny’s
Corporation, a Delaware corporation or any successor corporation.

      

      Corporate Incentive Plan or
Plan.  The Denny’s Corporate Incentive Plan, a subplan of the
2008 Omnibus Plan, as set forth in this document together with any subsequent
amendments hereto.

      

      Covered
Employee.  As defined in Code Section 162(m)(3), a covered
employee means any employee who, as of the close of a taxable year, is the
Company’s chief executive officer or whose compensation is required to be
reported in the Company’s proxy statement by reason of such employee being among
the four highest compensated officers for the taxable year.

      

      Effective
Date.  December 31, 2009 (the beginning of fiscal year
2010).

      

      Individual Award
Limit.  Has the meaning described in Section 5.5.

      

      Individual Performance
Objectives.  The Individual Performance Objectives established
by the Committee for a Plan Year, as provided in Article 5.

      

      Participant.  A
person who, as an employee of the Company or any Affiliate (including without
limitation, an employee of Denny’s, Inc.), has been granted a Performance Bonus
opportunity under the Plan.

      

      Performance
Bonus.  The bonus payable to a Participant under this Plan
calculated by reference to the achievement of applicable Performance Objectives,
as determined in accordance with Article 5.

      

      Performance
Objectives.  Collectively, with respect to a Participant,
Threshold EBITDA Performance (which only applies to Covered Employees) and any
Company Performance Objectives and Individual Performance Objectives applicable
to the Participant, as provided in Article 5.

       

      
        
          
          

        

        
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      Plan
Year.  The fiscal year of the Company.

      

      Target
Bonus.  Has the meaning described in Section 5.2.

      

      Threshold EBITDA
Performance.  Has the meaning given such term in Section
5.5.  For purposes of determining Threshold EBITDA Performance for a
given Plan Year, Adjusted EBITDA shall be calculated as earnings before
interest, taxes, depreciation, amortization, restructuring charges and exit
costs, impairment charges, asset sale gains, share-based compensation, and other
nonoperating expenses.

      

      ARTICLE
3

      ADMINISTRATION

      

      3.1.           COMMITTEE.  This
Plan shall be administered by the Committee.

      

      3.2.           AUTHORITY OF
COMMITTEE.  Without limiting its authority under Article 4 of
the 2008 Omnibus Plan, the Committee has the exclusive power, authority and
discretion to:

      

      (a)  Designate
Participants for each Plan Year (by individual or employee class);

      

      (b)  Establish
and review Individual Performance Objectives and weightings for different
Individual Performance Objectives for each Plan Year;

      

      (c)  Establish
and review Company Performance Objectives and weightings for different Company
Performance Objectives for each Plan Year;

      

      (d)  Establish
Target Bonuses for Participants for each Plan Year;

      

      (e)  Determine
whether and to what extent Performance Objectives were achieved for each Plan
Year;

      

      (f)  Increase
(subject to the Individual Award Limit) or decrease the Performance Bonus
otherwise payable to any Participant resulting from the achievement of Company
Performance Objectives and Individual Performance Objectives in any Plan Year,
based on such objective or subjective factors as the Committee shall deem
relevant;

      

      (g)  Establish,
adopt or revise any rules and regulations as it may deem necessary or advisable
to administer this Plan;

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (h)  Make
all other decisions and determinations that may be required under this Plan or
as the Committee deems necessary or advisable to administer this Plan;
and

      

      (i)  Amend
this Plan as provided herein.

      

      Notwithstanding
the above, the Vice President of Human Resources shall have and shall exercise
all of the Committee’s authority under subsections (a), (b), (e), (g) and (h)
above with respect to Awards to Participants who are not executive officers of
the Company, and all references herein to the Committee shall mean the Vice
President of Human Resources with respect to such duties and responsibilities
relating to such awards.

      

      3.3.           DECISIONS
BINDING.  The Committee’s interpretation of this Plan and all
decisions and determinations by the Committee with respect to this Plan are
final, binding, and conclusive on all parties.

      

      
ARTICLE 4

      ELIGIBILITY

      

      4.1.           DESIGNATION OF
PARTICIPANTS.  Employees of the Company or its Subsidiaries are
eligible to participate in the Plan.  Before the 90th day
of each Plan Year, the Committee shall approve the Participants and their Target
Bonuses for that Plan Year (by individual or by employee class).

      

      4.2.           PARTIAL YEAR
PARTICIPATION.   Employees hired before October 1 of a
Plan Year shall be eligible to be a Participant and to receive a Performance
Bonus for such Plan Year on a prorated basis.  Employees hired on or
after October 1 of a Plan Year shall not be eligible to receive a Performance
Bonus for such Plan Year.  Changes in job code during a Plan Year that
result in a change in bonus level eligibility will result in a prorated
Performance Bonus based on time in each position during the Plan
Year.  If a Participant’s salary changes during a Plan Year, the
Participant’s Performance Bonus will be calculated based on the Participant’s
salary in effect at the end of the Plan Year.  If a Participant takes
a leave of absence during the Plan Year for any reason the Participant will
receive a pro rata share of a Performance Bonus, if any, for such Plan Year,
unless the Committee decides otherwise.

      

      4.3.           DEMOTIONS.  If
a Participant is demoted during the Plan Year, the Committee will determine
whether Plan participation ends at that time, or is continued, perhaps at a
reduced level.

      

      ARTICLE
5

      OPERATION
OF THE PLAN

      

      5.1.           PLAN
STRUCTURE.  Each Participant shall be eligible to receive a
Performance Bonus for the Plan Year if the Company meets or exceeds certain

       

      
        
          
          

        

        
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      Performance
Objectives set by the Committee.  It is anticipated that the Committee
shall establish or approve Performance Objectives and their respective
weightings, and Target Bonuses as provided in Sections 5.2, 5.3 and
5.4.  In establishing Performance Objectives, the Committee may take
into account such factors as it deems appropriate, including, without
limitation, prior year results, planned business results, anticipated business
trends, performance relative to peer companies and macroeconomic
conditions.  Those Performance Objectives shall provide the framework
for the Committee in determining the appropriate amount of incentive awards to
payout in each Plan Year.  However, this Plan is designed to provide
the Committee discretion to make pay-outs that differ from those that would
result from the application of Sections 5.2, 5.3 and 5.4, if circumstances
warrant, so long as, at a minimum, the requirements of Section 5.5 are met with
respect to Covered Employees.  Such circumstances could include, for
example and without limitation, events that are not anticipated at the time the
Performance Objectives are established or extenuating circumstances or
extraordinary performance that is not recognized through the Performance
Objectives.

      

      5.2.           ESTABLISHMENT OF TARGET
BONUSES.  The Committee plans to establish Performance
Objectives (in addition to Threshold EBITDA Performance, which only applies to
Covered Employees) and Target Bonuses (other than the Individual Award Limit)
for each Plan Year, by approving (by individual or by employee class) the
percentage of each Participant’s base salary that will be awarded to the
Participant for that Plan Year if, with respect to Covered Employees only,
Threshold EBITDA Performance is achieved, and if, with respect to all
Participants, the other established Performance Objectives are achieved at the
target level (the “Target Bonus”).  Each Participant’s Target Bonus
percentage will be communicated in writing to the Participant upon such
Participant’s initial participation in the Plan, and shall remain in effect
until any change thereto is communicated to the Participant in
writing.  The actual Performance Bonus to a Participant may be greater
or less than his or her Target Bonus, depending on the level of achievement of
Company Performance Objectives and Individual Performance Objectives, and
depending on whether the Committee exercises its discretion to increase or
reduce a resulting Performance Bonus as provided herein.

      

      5.3.           COMPANY PERFORMANCE
OBJECTIVES.  Before the 90th day
of each Plan Year, it is anticipated that the Committee will approve Company
Performance Objectives for that Plan Year, which shall be communicated in
writing to the Participants.  The Company Financial Objectives shall
include a formula or performance grid that the Committee will use as a guide for
determining a Participant’s Performance Bonus (at a level below the Individual
Award Limit, with respect to Covered Employees).

      

      5.4.           INDIVIDUAL PERFORMANCE
OBJECTIVES.  Before the 90th day
of each Plan Year, it is anticipated that the Committee will approve Individual
Performance Objectives for Participants who are executive officers and that the
Vice President of Human Resources or other appropriate officers will approve
Individual Performance Objectives for other Participants.  Any such
Individual Performance Objectives will be communicated to Participants in
writing.  The Committee shall consider the degree of achievement of
Individual Performance Objectives as a guide in exercising its
discretion

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      in
determining a Participant’s Performance Bonus (at a level below the Individual
Award Limit, with respect to Covered Employees).

      

      5.5           THRESHOLD PERFORMANCE GOAL
AND INDIVIDUAL AWARD LIMITS.  With respect to Covered
Employees only, pursuant to Section
14.11 of the 2008 Omnibus Plan, by adopting this Corporate Incentive Plan on
January 26, 2010 to be effective as of the beginning of Plan Year 2010, the
Committee has established for each Plan Year beginning with Plan Year 2010 a
threshold performance goal under the Plan based on Adjusted EBITDA, which is one
of the Qualified Business Criteria approved by the shareholders under Section
14.11 of the 2008 Omnibus Plan.  Specifically, the threshold
performance goal under the Plan for each such Plan Year is that the Company
achieves Adjusted EBITDA of at least $50,000,000 for such fiscal year
(“Threshold EBITDA Performance”).  Unless waived by the Committee in
the case of the death or Disability of a Participant or the occurrence of a
Change in Control, no incentive awards shall be payable under the Plan for any
Plan Year to Participants who are Covered Employees unless Threshold EBITDA
Performance has been achieved.

      

      In any
Plan Year in which Threshold EBITDA Performance is achieved, the Performance
Bonus payable to each Covered Employee under the Plan for such Plan Year shall
be $2,000,000 (the “Individual Award Limit”) or any lesser amount determined by
the Committee based on the level of actual performance compared to Company
Performance Objectives and/or Individual Performance Objectives and such other
Performance Objectives or any other criteria determined by the
Committee.  As described herein, it is anticipated that the Committee
will exercise discretion such that the Performance Bonus paid to a Covered
Employee for a Plan Year would represent the amount that would be payable
pursuant to the applicable Company Performance Objectives and/or Individual
Performance Objectives, rather than the full Individual Award
Limit.

      

      5.6.           PAYOUT FORM AND
TIMING.  Performance Bonuses will be paid within thirty (30)
days after the Committee determines whether and to what extent Performance
Objectives were achieved, but no later than March 15 following the end of the
Plan Year for which the Performance Bonuses, if any, were earned.

      

      5.7.           TERMINATION OF
EMPLOYMENT.  A Participant must be actively employed in good
standing or on approved leave of absence as of the last day of the Plan Year in
order to be eligible to receive a Performance Bonus for such Plan
Year.  Participants whose employment terminates for any reason prior
to the end of the Plan Year shall forfeit their right to receive a Performance
Bonus for such Plan Year.  For terminations after the end of the Plan
Year, but before payout from this Plan, payout will be made as though the
termination had not occurred.  Any amounts paid on behalf of a
deceased Participant will be paid to the Participant’s Beneficiary.

      

      5.8.           CHANGE IN
CONTROL.  In the event a Change in Control occurs during a Plan
Year, a pro rata portion of the Target Bonus amounts for that Plan Year (based
on the number of days in the Plan Year preceding the Change in Control, divided
by 365) 

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      shall be
deemed earned, notwithstanding the level of achievement of Performance
Objectives or Threshold EBITDA Performance.  Such prorata Target
Bonuses shall be paid to Participants no later than 30 days after the effective
date of the Change in Control.

      

      ARTICLE
6

      AMENDMENT,
MODIFICATION AND TERMINATION

      

      6.1.           AMENDMENT, MODIFICATION AND
TERMINATION.  The Committee may, at any time and from time to
time, amend, modify or terminate this Plan.  The Committee may
condition any amendment or modification on the approval of shareholders of the
Company if such approval is necessary or deemed advisable with respect to tax,
securities or other applicable laws, policies or regulations, including without
limitation Code Section 162(m).

      

      6.2.           TERMINATION AFTER OR DURING
PLAN YEAR.  Termination of this Plan after a Plan Year but
before Performance Bonuses are paid for that Plan Year will not reduce
Participants’ rights to receive Performance Bonuses for the Plan
Year.  Termination or amendment of this Plan during a Plan Year may be
retroactive to the beginning of the Plan Year, at the discretion of the
Committee.  If a Change in Control occurs, no amendment or termination
may adversely affect amounts payable to a Participant without the consent of the
Participant.

      

      ARTICLE
7

      GENERAL
PROVISIONS

      

      7.1.           NO RIGHT TO
PARTICIPATE.  No officer or employee shall have any right to be
selected to participate in this Plan.

      

      7.2.           NO RIGHT TO
EMPLOYMENT.  Nothing in this Plan shall interfere with or limit
in any way the right of the Company or any Affiliate to terminate any
Participant’s employment at any time, nor confer upon any Participant any right
to continue in the employ of the Company or any Affiliate.

      

      7.3.           WITHHOLDING.  The
Company or any Affiliate shall have the authority and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy federal, state, and local taxes (including the Participant’s FICA
obligation) required by law to be withheld with respect to any taxable event
arising as a result of this Plan.

      

      7.4.           FUNDING.  Benefits
payable under this Plan to a Participant or to a Beneficiary will be paid by the
Company from its general assets.  The Company is not required to
segregate on its books or otherwise establish any funding procedure for any
amount to be used for the payment of benefits under this Plan.  The
Company may, however, in its sole discretion, set funds aside in investments to
meet its anticipated obligations under this Plan.  Any such action or
set-aside may not be deemed to create a trust of any kind between the Company
and any Participant or beneficiary or to constitute 

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      the
funding of any Plan benefits.  Consequently, any person entitled to a
payment under this Plan will have no rights greater than the rights of any other
unsecured creditor of the Company.

      

      7.5.           EXPENSES.  The
expenses of administering this Plan shall be borne by the Company and its
Subsidiaries.

      

      7.6.           TITLES AND
HEADINGS.  The titles and headings of the Sections in this Plan
are for convenience of reference only, and in the event of any conflict, the
text of this Plan, rather than such titles or headings, shall
control.

      

      7.7.  GENDER AND
NUMBER.  Except where otherwise indicated by the context, any
masculine term used herein also shall include the feminine; the plural shall
include the singular and the singular shall include the plural.

      

      7.8.           GOVERNING
LAW.  To the extent not governed by federal law, this Plan
shall be construed in accordance with and governed by the laws of the State of
Delaware.

      

      7.9           2008 OMNIBUS
PLAN
CONTROLS.  This Plan is adopted pursuant to and shall be
governed by and construed in accordance with the 2008 Omnibus
Plan.  In the event of any actual or alleged conflict between the
provisions of the 2008 Omnibus Plan and the provisions of this Plan, the
provisions of the 2008 Omnibus Plan shall be controlling and
determinative.

      

      The foregoing is hereby acknowledged as
being the Denny’s Corporate Incentive Plan as adopted by the Committee on
January 26, 2010, to be effective as of December 31, 2009.

      

                         DENNY’S
CORPORATION

      

      

                         _____________________________

         

       

      
 

      
        
          
          

        

        
          8exhibit10-2.htm

AMENDMENT TO THE CHUX OWNERSHIP PLAN

WHEREAS, effective as of October 1, 1993, O’Charley’s Inc. (the “Company”) adopted the CHUX Ownership Plan (as amended to date, the “Plan”); and

WHEREAS, the Company most recently amended the Plan to increase the number of shares reserved for issuance under the Plan from 1,350,000 shares to 2,350,000 shares; and

WHEREAS, the Company desires to amend the Plan again to (i) limit the amount of lump sum contributions to the Plan and (ii) make technical changes required by final regulations published under Section 423 of the Internal Revenue Code
of 1986, as amended.

NOW, THEREFORE, effective April 1, 2010, the Company hereby amends the Plan as follows:

1.  The first sentence of Section 3.1 of the Plan is amended to provide as follows:

“Without the approval of the shareholders of O’Charley’s, no amendment to this Plan shall (i) increase the number of shares reserved under the Plan, other than as provided in Section 10.3, (ii) alter the designation of corporations whose employees shall be permitted
to participate in the Plan, except as permitted in Section 1.423-2(c)(4) of the Treasury Regulations or (iii) alter the granting corporation or the Stock available for purchase under the Plan.”

2.  Section 5.4 of the Plan is amended to provide as follows:

“5.4           Lump Sum Contributions

Subject to the limitations described in Section 5.5, a Participant who has not discontinued his contributions pursuant to Section 5.2 or elected to withdraw his contributions pursuant to Section 5.3 may make no more than one (1) lump sum contribution during each Plan Period.  The amount of a lump sum contribution shall be limited
to the amount of missed Participant contributions (made pursuant to Section 5.1), if any, experienced by a Participant during a Plan Period.  No other lump sum contributions shall be permitted under the Plan.  Any lump sum contributions shall be paid by check by the Participant, delivered at least ten (10) days prior to the last day of the applicable Plan Period and shall be credited to the Participant’s Contribution Account.”

IN WITNESS WHEREOF, O’Charley’s Inc. has caused this Amendment to the CHUX Ownership Plan to be executed this 11th day of February, 2010, by its duly authorized officers.

O’CHARLEY’S INC.

By: /s/ Lawrence E. Hyatt

Title:  Chief Financial Officer and Treasurer

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