Document:

Form of Restricted Stock Agreement

 EXHIBIT 10.16 
  
 RUTH’S CHRIS STEAK HOUSE, INC. 
 RESTRICTED STOCK PURCHASE AGREEMENT 
  
  
 [Date] 
  
  
 [Name] 
 [Address] 
  

	 	Re:	Ruth’s Chris Steak House, Inc. (the “Company”) 

	 	  	Restricted Stock Purchase Agreement 

  
 Dear [Name]: 
  
 The Company is pleased to advise you that its Board of Directors has awarded you a grant of Restricted Stock, as provided below, under the Company’s
2004 Restricted Stock Plan (the “Plan”), a copy of which is attached hereto and incorporated herein by reference. 
 1.
Definitions. For the purposes of this Agreement, the following terms shall have the meanings set forth below: 
  
 “Board” shall mean the Board of Directors of the Company. 
  
 “Cause” shall mean (i) your theft or embezzlement, or attempted theft or embezzlement, of money or property
of. the Company, your perpetration or attempted perpetration of fraud, or your participation in a fraud or attempted fraud, on the Company or your unauthorized appropriation of or your attempt to misappropriate, any tangible or intangible assets or
property of the Company, (ii) any act or acts of disloyalty, misconduct or moral turpitude by you injurious to the interest, property, operations, business or reputation of the Company or your commission of a crime which results in injury to the
Company or (iii) your willful disregard of a directive given by a superior or the Board or a violation of a Company employment policy. 
  
 “Class A Common Stock” shall mean the Company’s Class A Common Stock par value $.01 per share or, in the event that the outstanding
Class A Common Stock is hereafter changed into or exchanged for different stock or securities of the Company, such other stock or securities. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended, and any successor statute. 
  
 “Committee” shall mean the Restricted Stock Committee, or
such other committee of the Board as may be designated by the Board to administer this Restricted Stock Purchase Agreement. The Committee shall be composed of two or more directors as appointed from time to time to serve by the Board. In the absence
of a Committee, the functions of the Committee shall be performed by the Board. 

 [Name] 
 [Date] 

Page 2 
  
  
 “Company” shall mean Ruth’s Chris Steak House, Inc., a Louisiana corporation, and (except to the
extent the context requires otherwise) any subsidiary corporation of Ruth’s Chris Steak House, Inc. as such term is defined in Section 425(f) of the Code. 
  

“Disability” shall mean your inability, due to illness, accident, injury, physical or mental incapacity or other disability, to carry
out effectively your duties and obligations to the Company or to participate effectively and actively in the management of the Company for a period of at least 90 consecutive days or for shorter periods aggregating at least 120 days (whether or not
consecutive) during any twelve-month period, as determined in the reasonable judgment of the Board. 
  
 “Fair Market Value” of the Class A Common Stock shall be the fair market value as determined by the Committee or, in the absence of the
Committee, by the Board, provided, however, that in the event you do not agree with the fair market value as so determined, you shall have the right at your own expense to engage a nationally recognized investment banking or valuation firm
comparable in standing and reputation with Duff & Phelps to provide a written appraisal of the nonmarketable minority value of your Restricted Shares, and such value shall be deemed to be the fair market value of such shares for purposes of the
transaction as to which you disagreed with the Board’s determination of fair market value. 
  
 “Good Reason” shall mean (i) the assignment to you by the Board of any material duties that are clearly inconsistent with your status,
title and position as President and Chief Executive Officer of the Company; or (ii) a failure by the Company to pay you any amounts required to be paid under your employment agreement or this Agreement, which failure continues uncured for a period
of fifteen (15) days after written notice thereof is given by you to the Board. 
  
 “Independent Third Party” means any Person who, immediately prior to the contemplated transaction, (i) does not own in excess of 5% of the Company’s Class A Common Stock on a fully-diluted basis
(a “5% Owner”), (ii) is not controlling, controlled by or under common control with any such 5% Owner, (iii) is not the spouse or descendant (by birth or adoption) of any such 5% Owner or a trust for the benefit of such 5% Owner and/or
such other Persons and (iv) is neither a portfolio company of any such 5% Owner nor a subsidiary of any portfolio company of any such 5% Owner. 
  
 “Investor” shall mean Madison Dearborn Capital Partners III, L.P., a Delaware limited partnership. 
  
 “Restricted Shares” shall mean (i) all shares of Class A
Common Stock awarded pursuant to this Agreement and (ii) all shares of Class A Common Stock issued with respect to the Class A Common Stock referred to in clause (i) above by way of stock dividend or stock split or in connection with any conversion,
merger, consolidation or recapitalization or other reorganization affecting the Class A Common Stock. Restricted Shares shall continue to be Restricted Shares pursuant to this Agreement in the hands of any holder other than you (except for the
Company or the Investor and, to the extent that you are permitted to transfer Restricted Shares pursuant to this Agreement, purchasers pursuant to a public offering under the Securities Act), and each such 

 [Name] 
 [Date] 

Page 3 
  
  
 transferee thereof shall succeed to the rights and obligations of a holder of Restricted Shares hereunder. 
  
 “Participant” shall mean any executive or other key employee
of the Company who has been selected to participate in the Plan by the Committee or the Board. 
  
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a
governmental entity or any department, agency, or political subdivision thereof. 
  
 “Public Sale” means any sale of Restricted Shares to the public pursuant to an offering registered under the Securities Act or to the public through a broker, dealer or market maker pursuant to the
provisions of Rule 144 adopted under the Securities Act. 
  
 “Registration Agreement” shall mean that certain Registration Agreement, dated as of September 17, 1999, by and among the Company and certain investors as amended from time to time. 
  
 “Sale of the Company” means (A) a merger or consolidation
effecting a change in control of the Company such that the holders as of the close of business on the date of this Agreement of the Company’s capital stock and securities or rights convertible into or exchangeable or exercisable for capital
stock cease to have the power to elect a majority of the Board, (B) a sale of all or substantially all of the Company’s assets, (C) a sale to any person or entity or group of affiliated persons or entities of the Company’s outstanding
voting securities having the voting power to elect a majority of the Board or (D) any other transaction as a result of which Madison Dearborn Capital Partners III, L.P. and its affiliates cease to have the power to elect a majority of the Board and
any person or entity or group of affiliated persons or entities obtains the power to elect a majority of the Board. 
  
 “Securities Act” shall mean the Securities Act of 1933, as amended, and any successor statute. 
  
 “Shareholders Agreement” shall mean the shareholders
agreement, dated as of September 17, 1999 between the Company, Madison Dearborn Capital Partners III, L.P., Madison Dearborn Special Equity III, L.P., Special Advisors Fund I, LLC, First Union Investors, Inc., GS Mezzanine Partners, L.P., GS
Mezzanine Partners Offshore, and each of the shareholders listed as Investors on the signature page thereto. 
  
 2. Grant and Vesting. 
  
 (a) Grant. Your award is for the purchase of [insert number] Restricted Shares for a price of [insert price] per share. You shall be entitled to
the rights of a shareholder, including the right to vote and to receive dividends on the Restricted Shares. The Restricted Shares and the right to vote and receive dividends may not, however, be sold, assigned, or encumbered by you, except as
permitted by this Agreement. 

 [Name] 
 [Date] 

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 (b) Normal Vesting. One-fifth of your Restricted Shares shall vest over each of the first five years (the
“Restricted Period”) following the date hereof, pro rata on a daily basis, if and only if you are, and have been continuously, employed by the Company from the date of this Agreement through such date of vesting, provided, however, that
(i) [insert amount] of your Restricted Shares shall be vested as of the date hereof, [insert amount] of your Restricted Shares shall vest, pro rata on a daily basis, during the period beginning on the date following the date hereof and ending on
[insert date], and the balance shall vest ratably until [insert date], and (ii) any fraction of a share that would otherwise result from the operation of the vesting schedule shall be rounded up or down to the nearest whole share in any case where
it is necessary to effect a certificated transfer of Restricted Shares. 
  
 (c) Effect on Vesting in Case of Employment Termination. Notwithstanding paragraph 2(b) above, the following special vesting rules shall apply if your employment with the Company terminates prior to the expiration of the Restricted
Period: 
  
 (i) Death or Disability. If you
die or become subject to any Disability while an employee of the Company, your Restricted Shares shall be vested with respect to a number of shares equal to the sum of (x) the shares that were vested on the date of your death or Disability, plus (y)
such additional shares that would have vested had your employment continued for one additional year following the date of termination of your employment as a result of death or Disability. Your remaining Restricted Shares shall be repurchased from
you by the Company at a price of five cents per share in cash. 
  
 (ii) Other Termination of Employment. Unless otherwise determined by the Committee, if your employment terminates other than as a result of death or Disability, your Restricted Shares shall be vested with
respect to that portion that was vested on the date your employment with the Company ceased and any portion that was not vested on such date shall be repurchased from you by the Company for five cents per share in cash. 
  
 Except as provided in this paragraph 2(c), the number of Restricted Shares
that are vested shall not increase once you cease to be employed by the Company. 
  
 3. Acceleration of Vesting on Sale of the Company. If you have been continuously employed by the Company from the date of this Agreement until a Sale of the Company, the portion of your Restricted Shares which
has not become vested at the date of such event shall, upon the requisite approval of the Company’s shareholders as provided under Section 280G of the Code to the extent necessary to avoid any “parachute” payments thereunder,
immediately vest with respect to 100% of such shares simultaneously with the consummation of the Sale of the Company. 
  
 4. Securities Laws Restrictions and Other Restrictions on Transfer of Restricted Shares. You represent that you are purchasing the Restricted
Shares hereunder for your own account and not on behalf of others. You understand and acknowledge that federal and state securities laws govern and restrict your right to offer, sell or otherwise dispose of any Restricted 

 [Name] 
 [Date] 

Page 5 
  
  
 Shares that become vested (“Vested Shares”) unless your offer, sale or other disposition thereof is registered under the
Securities Act and state securities laws, or in the opinion of the Company’s counsel, such offer, sale or other disposition is exempt from registration or qualification thereunder. You agree that you shall not offer, sell or otherwise dispose
of any Vested Shares in any manner which would: (i) require the Company to file any registration statement with the Securities and Exchange Commission (or any similar filing under state law) or to amend or supplement any such filing or (ii) violate
or cause the Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. You further understand that the certificates for any Vested Shares shall bear such legends as the Company deems
necessary or desirable in connection with the Securities Act or other rules, regulations or laws. 
  
 5. Conformity with Plan. This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan
(which is incorporated herein by reference). Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. By executing and returning the enclosed copy for this Agreement, you acknowledge your
receipt of this Agreement and the Plan and agree to be bound by all of the terms of this Agreement and the Plan. 
  
 6. Rights of Participants. Nothing in thus Agreement shall interfere with or limit in any way the right of the Company to terminate your employment
at any time (with or without Cause), nor confer upon you any right to continue in the employ of the Company for any period of time or to continue your present (or any other) rate of compensation, and in the event of your termination of employment
(including, but not limited to, termination by the Company without Cause) any portion of your Restricted Shares that were not previously vested shall be forfeited. Nothing in this Agreement shall confer upon you any right to be selected again as a
Plan participant, and nothing in the Plan or this Agreement shall provide for any adjustment to the number of Restricted Shares upon the occurrence of subsequent events, except as provided in paragraph 8 below. 
  
 7. Withholding of Taxes. The Company shall be entitled, if necessary
or desirable, to withhold from you any amounts due and payable by the Company to you (or secure payment from you, in lieu of withholding) the amount of any withholding or other tax due from the Company with respect to any Restricted Shares awarded
under this Agreement, and the Company may defer such issuance unless indemnified by you to its satisfaction. You agree as a condition of acquiring the Restricted Shares, however, to file an election under Section 83(b) of the Code within 30 days
after your acquisition of the Restricted Shares with respect to such shares. 
  
 8. Adjustments. In the event of a reorganization, recapitalization, stock dividend or stock split, or combination or other change in the shares of Class A Common Stock, the Board or the Committee shall, in
order to prevent the dilution or enlargement of rights under this Agreement, make such adjustments in the number and type of shares authorized by the Plan and the number and type of Restricted Shares covered by this Agreement as may be determined to
be appropriate and equitable. The issuance by the Company of shares of stock of any class, or 

 [Name] 
 [Date] 

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 options or securities
exercisable or convertible into shares of stock of any class, for cash or property, or for labor or services either upon direct sale, or upon the exercise of rights or warrants to subscribe therefor, or upon exercise or conversion, of other
securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Class A Common Stock then subject to this Agreement. 
  
 9. Right to Purchase Vested Shares Upon Your Termination of Employment. 
  
 (a) Repurchase of Vested Shares. If your employment
with the Company shall terminate for any reason (the date on which such termination occurs being referred to as the “Termination Date”), then the Company shall have the option to repurchase all or any part of your Vested Shares, whether
held by you or by one or more of your transferees, at the price determined in accordance with the provisions of paragraph 10 hereof (the “Repurchase Option”). 
  
 (b) Repurchase by Company. The Company may elect to purchase all or any portion of the Vested Shares
by delivery of written notice (the “Repurchase Notice”) to you or any other holders of the Vested Shares within 120 days after the Termination Date. The Repurchase Notice shall set forth the number of Vested Shares to be acquired
from you and such other holder(s), the aggregate consideration to be paid for such shares and the time and place for the closing of the transaction. The number of Vested Shares to be repurchased by the Company shall first be satisfied to the extent
possible from the Vested Shares held by you at the time of delivery of the Repurchase Notice. If the number of Vested Shares then held by you is less than the total number of Vested Shares the Company has elected to purchase, then the Company shall
purchase the remaining shares elected to be purchased from the other holders thereof, pro rata according to the number of shares held by each such holder at the time of delivery of such Repurchase Notice (determined as close as practical to the
nearest whole share). 
  
 (c) Repurchase by the
Shareholders. If for any reason the Company does not elect to purchase all of the Vested Shares pursuant to the Repurchase Option, then the Shareholders (as defined in the Shareholders Agreement) shall be entitled to exercise the Company’s
Repurchase Option in the manner set forth in paragraph 9(a) for all or any portion of the number of Vested Shares the Company has not elected to purchase (the “Available Shares”). As soon as practicable after the Company has
determined that there shall be Available Shares, but in any event within 90 days after the Termination Date, the Company shall deliver written notice (the “Option Notice”) to the Shareholders setting forth the number of Available
Shares and the price for each Available Share. Each Shareholder may elect to purchase any number of Available Shares by delivering written notice to the Company within 20 days after receipt of the Option Notice from the Company. As soon as
practicable, and in any event within five days after the expiration of such 20-day period, the Company shall notify you and any other holder(s) of Vested Shares as to the number of Vested Shares being purchased from you by the Shareholders (the
“Supplemental Repurchase Notice”). At the time the Company delivers the Supplemental Repurchase Notice to you and such other holder(s) of Vested Shares, the Shareholders shall also receive written notice from the Company setting
forth the number of shares it is entitled to purchase, the aggregate purchase price and the time and place of the closing of the transaction. 

 [Name] 
 [Date] 

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 (d) Closing of Repurchase of Vested Shares. The purchase of Vested Shares pursuant to this paragraph 9 shall be closed at the Company’s executive offices within 20 days after the expiration of the 120-day period referred to in
paragraph 9(b). At the closing, the purchaser or purchasers shall pay the purchase price in the manner specified in paragraph 10(b), and you and any other holders of Vested Shares being purchased shall deliver the certificate or certificates
representing such shares to the purchaser or purchasers or their nominees, accompanied by duly executed stock powers. Any purchaser of Vested Shares under this paragraph 9 shall be entitled to receive customary representations and warranties from
you and any other selling holders of Vested Shares regarding the sale of such shares (including representations and warranties regarding good title to such shares, free and clear of any liens or encumbrances) and to require all sellers’
signatures to be guaranteed by a national bank or reputable securities broker. 
  
 10. Purchase Price for Vested Shares. 
  
 (a) Purchase Price. The purchase price per share to be paid for the Vested Shares purchased by the Company and the Shareholders pursuant to paragraph 9 upon termination of your employment (i) by the Company
without Cause, by your resignation with Good Reason, or as a result of your death or Disability, shall be equal to the Fair Market Value of such Vested Shares as of the Termination Date or (ii) by your resignation without Good Reason or by the
Company for Cause, shall be equal to five cents. 
  
 (b) Manner of Payment. If the Company elects to purchase all or any part of the Vested Shares, including Vested Shares held by one or more transferees, the Company shall pay for such shares: (i) first, by certified check or wire
transfer of funds to the extent such payment would not cause the Company to violate the Business Corporation Act of the State of Louisiana and would not cause the Company to breach any agreement to which it is a party relating to the indebtedness
for borrowed money or other material agreement; and (ii) thereafter, with a subordinated promissory note of the Company. Such subordinated promissory note shall bear interest at the applicable federal rate as determined under Section 1274(d) of the
Code (which shall be payable annually in cash unless otherwise prohibited as set forth above), shall have all principal due on the fifth anniversary of the date of issuance, shall be subordinated on terms and conditions satisfactory to the holders
of the Company’s indebtedness for borrowed money, and shall be secured by a pledge of the Vested Shares for which the note was issued. In addition, the Company may pay the purchase price for such shares by offsetting amounts outstanding under
any indebtedness or obligations owed by you to the Company. If the Shareholders elect to purchase all or any portion of the Available Shares, the Shareholders shall pay for that portion of such Vested Shares by certified check or wire transfer of
funds. 
  
 11. Restrictions on Transfer. 
  
 (a) Transfer of Vested Shares. You shall not sell,
pledge or otherwise transfer any interest in any Vested Shares except pursuant to a Public Sale or the provisions of paragraph 9 or 13 hereof (“Exempt Transfers”) and except pursuant to the provisions of this paragraph 11. At least
30 days prior to making any transfer other than an Exempt Transfer, you shall deliver a 

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 written notice
(the “Sale Notice”) to the Company and the Shareholders; provided that shares may only be transferred for cash or cash payable in installments over time. The Sale Notice shall disclose in reasonable detail the identity of the
prospective transferee(s) and the terms and conditions of the proposed transfer. You agree not to consummate any such transfer until 30 days after the Sale Notice has been delivered to the Company and the Shareholders, unless the parties to the
transfer have been finally determined pursuant to this paragraph 11 prior to the expiration of such 30 day period. (The date of the first to occur of such events is referred to herein as the “Authorization Date”). 
  
 (b) First Refusal Rights. The Company may, first,
elect to purchase all (but not less than all) of the Vested Shares to be transferred by you, upon the same terms and conditions as those set forth in the Sale Notice, by delivering a written notice of such election to you and the Shareholders within
15 days after the receipt of the Sale Notice by the Company. If the Company has not elected to purchase all of the Vested Shares to be transferred, then the Shareholders may elect to purchase all (but not less than all) of the Vested Shares to be
transferred which have not been elected to be purchased by the Company, upon the same terms and conditions as those set forth in the Sale Notice, by delivering a written notice of such election to you within 25 days after the receipt of the Sale
Notice by the Shareholders. Any person who has the right to acquire Vested Shares pursuant to this paragraph 11(b) shall be given up to 30 days (after it has been determined that such person has such right) to consummate the purchase and sale of
Vested Shares. If neither the Company nor the Shareholders, either individually or in the aggregate, have elected to purchase all of the Vested Shares specified in the Sale Notice, you may transfer the Vested Shares specified in the Sale Notice at a
price and on terms no more favorable to the transferees) thereof than specified in the Sale Notice during the 45-day period immediately following the Authorization Date. Any Vested Shares not transferred within such 45-day period shall be subject to
the provisions of this paragraph 11(b) upon subsequent transfer. 
  
 (c) Certain Permitted Transfers. The restrictions contained in this paragraph 11 shall not apply with respect to transfers of Vested Shares (i) pursuant to applicable laws of descent and distribution or (ii)
among your family group; provided that the restrictions contained in this paragraph shall continue to be applicable to the Vested Shares after any such transfer and the transferees of such Vested Shares have agreed in writing to be bound by the
provisions of this Agreement. Your “family group” means your spouse and descendants (whether natural or adopted) and any trust solely for the benefit of you and/or your spouse and/or descendants. 
  
 (d) Termination of Restrictions. The restrictions on
the transfer of vested Shares set forth in this paragraph 11 shall continue with respect to each Vested Share until the date on which such Vested Share has been transferred in a transaction permitted by this paragraph (except in a transaction
contemplated by paragraph 11(c)); provided in any event the restrictions on transfers set forth in this paragraph 11 shall terminate when the Company has sold shares of its Class A Common Stock pursuant to a public offering registered under the
Securities Act. 

 [Name] 
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 12.
Additional Restrictions on Transfer. 
  
 (a) Restrictive Legend. The certificates representing the Shares of Restricted Shares shall bear the following legend: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED ON NOVEMBER 8, 2004, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION
THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND JAMES G. CANNON DATED AS OF
NOVEMBER 8, 2004, A COPY OF WHICH MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.” 
  
 (b) Opinion of Counsel. You may not sell, transfer or dispose of any Vested Shares (except pursuant to an effective registration
statement under the Securities Act) without first delivering to the Company an opinion of counsel reasonably acceptable in form and substance to the Company that registration under the Securities Act or any applicable state securities law is not
required in connection with such transfer. 
  
 (c)
Holdback. You agree not to effect any public sale or distribution of any equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such securities, during the seven days prior to and the 180 days
after the effectiveness of any underwritten Demand Registration or any underwritten Piggyback Registration (as such terms are defined in the Registration Agreement), except as part of such underwritten registration if otherwise permitted.

  
 13. Sale of the Company. 
  
 (a) If the Board and the holders of a majority of the shares
of Class A Common Stock then outstanding, voting share for share as a single class, approve a sale of all or substantially all of the Company’s assets determined on a consolidated basis or a sale of all or substantially all of the
Company’s outstanding capital stock (whether by merger, recapitalization, consolidation, reorganization, combination or otherwise) to any independent Third Party or group of Independent Third Parties (collectively, an “Approved
Sale”), subject to the provisions 

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 set forth in
paragraph 13(b), you shall vote for or furnish a written consent to vote your Restricted Shares and raise no objections against such Approved Sale. In connection with any Approved Sale, the Company shall send a written notice at least ten business
days prior to the consummation of any Approved Sale to all Participants setting forth the principal terms of the proposed Approved Sale. If the Approved Sale is structured as (i) a merger or consolidation, you shall waive any dissenters’
rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) a sale of stock, you shall agree to sell all of your shares and rights to acquire such shares on the terms and conditions approved by the Board and
the holders of a majority of the Class A Common Stock then outstanding. You shall take all necessary or desirable actions in connection with the consummation of the Approved Sale as requested by the Company. 
  
 (b) Your obligations under paragraph 13(a) with respect to
the Approved Sale of the Company are subject to the satisfaction of the following conditions: (i) upon the consummation of the Approved Sale, each holder of Class A Common Stock shall receive the amount of consideration as if the Company were
dissolved and completely liquidated; and (ii) you shall be given an opportunity to either (A) participate in such sale as a holder of Class A Common Stock to the extent of your Vested Shares or (B) upon the consummation of the Approved Sale, receive
in exchange for such Vested Shares consideration equal to the amount determined by multiplying (1) the same amount of consideration per share of Class A Common Stock received by holders of Class A Common Stock in connection with the Approved Sale by
(2) the number of your Vested Shares. 
  
 (c)
Purchaser Representative. If the Company or the holders of the Company’s securities enter into any negotiation or transaction for which Rule 506 (or any similar rule then in effect) promulgated by the Securities and Exchange Commission
may be available with respect to such negotiation or transaction (including a merger, consolidation or other reorganization), you shall, at the request of the Company, appoint a purchaser representative (as such term is defined in Rule 501)
reasonably acceptable to the Company. If you appoint the purchaser representative designated by the Company, the Company shall pay the fees of such purchaser representative, but if you decline to appoint the purchaser representative designated by
the Company you shall appoint another purchaser representative (reasonably acceptable to the Company), and you shall be responsible for the fees of the purchaser representative so appointed. 
  
 (d) Termination of Restrictions. The provisions of
this paragraph 13 shall terminate when the Company has sold shares of its Class A Common Stock pursuant to a public offering registered under the Securities Act. 
  
 14. Remedies. The parties hereto (and the Investor as a third party beneficiary) shall be entitled to enforce their
rights under this Agreement specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto acknowledge and agree that money damages would not
be an adequate remedy for any breach of the provisions of this Agreement and that any party hereto (and any Investor as a third party beneficiary) may, in its sole discretion, apply to any court of law or equity of competent jurisdiction for
specific performance and/or injunctive relief (without 

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 posting bond or other security) in order to enforce or prevent any violation of the provisions of this Agreement. 
  
 15. Amendment. Except as otherwise provided herein, any provision of
this Agreement may be amended or waived only with the prior written consent of you and the Company; provided that no provision of paragraph 9, 10, 11, 12, 13, or 14 or of this paragraph 15 may be amended or waived without the prior written consent
of the Investor. 
  
 16. Successors and Assigns. Except as
otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto
whether so expressed or not. 
  
 17. Severability. Whenever
possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. 
  
 18. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which shall constitute an original, but all of
which taken together shall constitute one and the same Agreement. 
  
 19. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 
  
 20. Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be
governed by the internal law, and not the law of conflicts, of Louisiana. 
  
 21. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall he in writing and shall be deemed to have been given when
delivered personally or transmitted by facsimile or other electronic means or mailed by certified or registered mail, return receipt requested and postage prepaid, to the recipient. Such notices, demands and other communications shall be sent to you
and to the Company and the Investor at the addresses indicated below: 
  

	 	(a)	If to the Optionee: 

  

	 	  	[Name] 

	 	  	[Address] 

  

	 	(b)	If to the Company: 

  

	 	  	Ruth’s Chris Steak House, Inc. 

  
  

 [Name] 
 [Date] 

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	 	  	3321 Hessmer Avenue 

	 	  	Metairie, Louisiana 70002 

	 	  	Telephone: (504) 454-6560 

	 	  	Telecopy: (504) 454-9067 

  

	 	  	with copies to: 

  

	 	  	Madison Dearborn Capital Partners III, L.P. 

	 	  	c/o Madison Dearborn, Partners, Inc. 

	 	  	Three First National Plaza 

	 	  	Suite 1330 

	 	  	Chicago, Illinois 60602 

	 	  	Telecopy: (312) 732-4098 

	 	  	Attn: Robin P. Selati 

  

	 	(c)	If to the Investor: 

  

	 	  	Madison Dearborn Capital Partners III, L.P. 

	 	  	Three First National Plaza, Ste. 3800 

	 	  	Chicago, IL 60602 

	 	  	Attn: Robin P. Selati 

  
 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
  
 22. Third-Party Beneficiary. The Company and you acknowledge that the Investor is a third-party beneficiary under
this Agreement. 
  
 23. Entire Agreement. This Agreement
constitutes the entire understanding between you and the Company, and supersedes all other agreements, whether written or oral, with respect to the acquisition by you of Class A Common Stock of the Company. 
  
 Please execute the extra copy of this Agreement in the space below and return
it to the Company’s Secretary at its executive offices to confirm your understanding and acceptance of the agreements contained in this Agreement. 
  

			
	 Very truly yours,
  
 RUTH’S CHRIS STEAK HOUSE, INC.

		
	By:	 	/S/    THOMAS J. PENNISON
JR.        
	 	 	 Thomas J. Pennison Jr.
 CFO/Vice-President, Finance

  

	Enclosures:	1.     Extra copies of this Agreement 

 [Name] 
 [Date] 

Page 13 
  
  
  

	  	2. Copy of the Plan 

  
 The undersigned hereby acknowledges having read this Agreement and the Plan and hereby agrees to be bound by all provisions set forth herein and in the
Plan. 
  

									
	 Dated as of [Date]
	 	 	 	 	 	 PURCHASER

				
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	[Name]2000 Stock Option Plan

 Exhibit 10.17 
  
 RUTH’S CHRIS STEAK HOUSE, INC. 
 (f/k/a RUTH U. FERTEL, INC.) 
 2000 STOCK OPTION PLAN 
  
 ARTICLE I 
  
 Purpose of Plan 
  
 The 2000 Stock Option Plan (the “Plan”) of Ruth’s Chris Steak House, Inc. (f/k/a Ruth U. Fertel, Inc.), a Louisiana corporation (the
“Company”), adopted by the Board of Directors of the Company on January 10, 2000, for executive and other key employees of the Company, is intended to advance the best interests of the Company by providing those persons who have
substantial responsibility for its management and growth with additional incentives by allowing them to acquire an ownership interest in the Company and thereby encouraging them to contribute to the success of the Company and to remain in its
employ. The availability and offering of stock options under the Plan is also intended to increase the Company’s ability to attract and retain individuals of exceptional managerial talent upon whom, in large measure, the sustained progress,
growth and profitability of the Company depends. 
  
 ARTICLE II 

  
 Definitions 
  
 For purposes of the Plan, except where the context clearly indicates
otherwise, the following terms shall have the meanings set forth below: 
  
 “Board” shall mean the Board of Directors of the Company. 
  
 “Cause” shall mean (i) a Participant’s theft or embezzlement, or attempted theft or embezzlement, of money or property of the Company, a Participant’s perpetration or attempted perpetration
of fraud, or a Participant’s participation in a fraud or attempted fraud, on the Company or a Participant’s unauthorized appropriation of, or a Participant’s attempt to misappropriate, any tangible or intangible assets or property of
the Company, (ii) any act or acts of disloyalty or misconduct by a Participant injurious to the interest, property, operations, business or reputation of the Company or a Participant’s commission of a felony or crime or act of moral turpitude
or (iii) a Participant’s willful disregard of a directive given by a superior or the Board or a violation of a Company employment policy. 
  
 “Class A Common Stock” shall mean the Company’s Class A Common Stock par value $.01 per share, or, in the event that the outstanding
Class A Common Stock is hereafter changed into or exchanged for different stock or securities of the Company, such other stock or securities. 
  

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 “Code” shall mean the Internal Revenue Code of 1986, as amended, and any successor
statute. 
  
 “Committee” shall mean the Stock
Option Committee, or such other committee of the Board which may be designated by the Board to administer this Option. The Committee shall be composed of two or more directors as appointed from time to time to serve by the Board. In the absence of a
Committee, the functions of the Committee shall be performed by the Board. 
  
 “Company” shall mean Ruth’s Chris Steak House, Inc. (f/k/a Ruth U. Fertel, Inc.), a Louisiana corporation, and (except to the extent the context requires otherwise) any subsidiary corporation of
Ruth’s Chris Steak House, Inc. (f/k/a Ruth U. Fertel, Inc.) as such term is defined in Section 425(f) of the Code. 
  
 “Disability” shall mean the inability, due to illness, accident, injury, physical or mental incapacity or other disability, of any
Participant to carry out effectively his duties and obligations to the Company or to participate effectively and actively in the management of the Company for a period of at least 90 consecutive days or for shorter periods aggregating at least 120
days (whether or not consecutive) during any twelve-month period, as determined in the reasonable judgment of the Board. 
  
 “Fair Market Value” of the Class A Common Stock shall be the fair market value as determined by the Committee or, in the absence of the
Committee, by the Board. 
  
 “Options” shall have
the meaning set forth in Article IV. 
  
 “Participant” shall mean any executive or other key employee of the Company who has been selected to participate in the Plan by the Committee or the Board. 
  
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
  
 “Sale of the Company” means (A) a merger or consolidation effecting a change in control of the Company such
that the holders as of the close of business on the date of this Agreement of the Company’s capital stock and securities or rights convertible or exchangeable for or exercisable into capital stock cease to have the power to elect a majority of
the Company’s board of directors, (B) a sale of all or substantially all of the Company’s assets, (C) a sale to any person or entity or group of affiliated persons or entities of the Company’s outstanding voting securities having the
voting power to elect a majority of the Company’s board of directors or (D) any other transaction as a result of which Madison Dearborn Capital Partners III, L.P. and its affiliates cease to have the power to elect a majority of the
Company’s board of directors and any person or entity or group of affiliated persons or entities obtains the power to elect a majority of the Company’s board of directors. 
  

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 ARTICLE III 
  
 Administration 
  
 The Plan shall be administered by the Committee; provided that if for any reason the Committee shall not have been appointed by the Board, all
authority and duties of the Committee under the Plan shall be vested in and exercised by the Board. Subject to the limitations of the Plan, the Committee shall have the sole and complete authority to: (i) select Participants, (ii) grant Options (as
defined in Article IV below) to Participants in such forms and amounts as it shall determine, (iii) impose such limitations, restrictions and conditions upon such Options as it shall deem appropriate, (iv) interpret the Plan and adopt, amend and
rescind administrative guidelines and other rules and regulations relating to the Plan, (v) correct any defect or omission or reconcile any inconsistency in the Plan or in any Option granted hereunder and (vi) make all other determinations and take
all other actions necessary or advisable for the implementation and administration of the Plan. The Committee’s determinations on matters within its authority shall be conclusive and binding upon the Participants, the Company and all other
Persons. All expenses associated with the administration of the Plan shall be borne by the Company. The Committee may, as approved by the Board and to the extent permissible by law, delegate any of its authority hereunder to such Persons as it deems
appropriate. 
  
 ARTICLE IV 
  
 Limitation on Aggregate Shares 
  
 The number of shares of Class A Common Stock with respect to which options
may be granted under the Plan (the “Options”) and which may be issued upon the exercise thereof shall not exceed, in the aggregate, 85,096.195 shares; provided that the type and the aggregate number of shares which may be
subject to Options shall be subject to adjustment in accordance with the provisions of paragraph 6.8 below, and further provided that to the extent any Options expire unexercised or are canceled, terminated or forfeited in any manner
without the issuance of Class A Common Stock thereunder, or if any Options are exercised and the shares of Class A Common Stock issued thereunder are repurchased by the Company, such shares shall again be available under the Plan. The 85,096.195
shares of Class A Common Stock available under the Plan shall be authorized and unissued shares. 
  
 ARTICLE V  
  
 Awards 
  
 V.I Options. The Committee may
grant Options to Participants in accordance with this Article V. 
  

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 V.2 Form of Option. Options granted under this Plan may be nonqualified stock options
“NQOs”) subject to the provisions of Section 83 of the Code or options intended to qualify as incentive stock options (“ISOs”) within the meaning of Section 422 of the Code or any successor provision. All Options
when granted are intended to be NQOs unless a Participant’s Option Agreement explicitly states that the Option granted thereunder is intended to be an ISO. 
  

V.3 Exercise Price. The option exercise price per share of Class A Common Stock shall be fixed by the Committee. 
  
 V.4 Exercisability. Options shall be exercisable at such time or times
as the Committee shall determine at or subsequent to grant. 
  
 V.5 Payment of Exercise Price. Each Option may be exercised in whole or in part by either (a) written notice to the Company (to the attention of the Company’s Secretary) accompanied by payment in full of the option exercise
price in cash (including check, bank draft or money order) or, in the discretion of the Committee, in installments or by delivery of a promissory note (if in accordance with policies approved by the Board) or (b) with the approval of the Committee,
a written notice to the Company that the Company is authorized to withhold from issuance a number of shares of Class A Common Stock issuable upon exercise of such Option which when multiplied by the Fair Market Value of the shares of Class A Common
Stock issuable upon exercise of such Option is equal to the aggregate exercise price of such Option as determined in accordance with paragraph 5.3 (and such withheld shares shall no longer be issuable under such Option). 
  
 V.6 Term of Options. The Committee shall determine the term of each
Option, which term shall in no event exceed ten years from the date of grant. 
  
 V.7 Limitations on ISOs. Notwithstanding anything in this Plan to the contrary, any Option that is intended to be an ISO under Section 422 of the Code: 
  
 (i) shall have been granted within ten years from the date
this Plan was adopted; 
  
 (ii) shall have an
option exercise price of not less than 100% of the Fair Market Value of the Class A Common Stock on the date such Option is granted or, in the case of an individual who at the time the option is granted owns stock of the Company possessing more than
10% of the total combined voting power of all classes of stock of the Company (a “10% Holder”), 110% of the Fair Market Value of the Class A Common Stock on the date the Option is granted; 
  
 (iii) shall not be exercisable after the expiration of five
years from the date of grant, in the case of a 10% Holder; 
  

 -4- 

 (iv) shall not be transferable other than by will or under the laws of descent and
distribution and, during the lifetime of the Participant to whom such ISO was granted, may be exercised only by such Participant (or his legal guardian or legal representative); 
  
 (v) shall be exercisable only during such Participant’s employment by the Company, provided,
however, that the Committee may, in its discretion, provide at the time such ISO is granted that such ISO may be exercised for a period ending on the earliest of (x) the expiration of the term of the Option as determined in accordance with
paragraph 5.6, (y) the date that is 12 months after termination of such Participant’s employment as result of his disability or (z) the date that is three months after termination of such Participant’s employment for any other reason. The
Committee’s discretion to extend the period during which such ISO is exercisable shall only apply if and to the extent that (a) such Participant was entitled to exercise such ISO on the date of termination and (b) such ISO would not have
expired had such Participant continued to be employed by the Company; and 
  
 (vi) shall not be awarded to any Participant that is not an employee of the Company. 
  
 The aggregate Fair Market Value of the shares of Class A Common Stock (determined as of the date the applicable ISO was granted) with respect to which an ISO is
exercisable for the first time by any Participant during any calendar year shall not exceed $100,000 or such other amount as may subsequently be specified by the Code; provided that to the extent such limitation is exceeded with respect to
any Option intended to be an ISO, any excess portion of such Option (as determined under the Code) shall be deemed an NQO. 
  
 ARTICLE VI 
  
 General Provisions 
  
 VI.1 Conditions and Limitations on Exercise. Options may be made exercisable in one or more installments, upon the happening of certain events, upon the passage of a specified period of time, upon the
fulfillment of certain conditions or upon the achievement by the Company of certain performance goals, as the Committee shall decide in each case when the Options are granted. 
  
 VI.2 Sale of the Company. In the event of a Sale of the Company, the Committee may provide, in its discretion, that
the Options shall become immediately exercisable by any Participants who are employed by the Company or are members of the Board at the time of the Sale of the Company and that such Options shall terminate if not exercised as of the date of the Sale
of the Company or other prescribed period of time. 
  
 VI.3
Written Agreement. Each Option granted hereunder to a Participant shall be embodied in a written agreement (an “Option Agreement”) which shall be signed by the Participant and by the Chairman or the President of the Company
for and in the name and on behalf of the 

  

 -5- 

 
Company and shall be subject to the terms and conditions of the Plan prescribed in the Agreement (including, but not limited to, (i) the right of the Company
and such other Persons as the Committee shall designate (“Designees”) to repurchase from each Participant, and such Participant’s transferees, all shares of Class A Common Stock issued or issuable to such Participant on the
exercise of an Option in the event of such Participant’s termination of employment, (ii) rights of first refusal granted to the Company and Designees, (iii) holdback and other registration right restrictions in the event of a public
registration of any equity securities of the Company and (iv) any other terms and conditions which the Committee shall deem necessary and desirable). 
  
 VI.4 Listing, Registration and Compliance with Laws and Regulations. Options shall be subject to the requirement that if at any time the Committee
shall determine, in its discretion, that the listing, registration or qualification of the shares subject to the Options upon any securities exchange or under any state or federal securities or other law or regulation, or the consent or approval of
any governmental regulatory body, is necessary or desirable as a condition to or in connection with the granting of the Options or the issuance or purchase of shares thereunder, no Options may be granted or exercised, in whole or in part, unless
such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The holders of such Options shall supply the Company with such certificates, representations
and information as the Company shall request and shall otherwise cooperate with the Company in obtaining such listing, registration, qualification, consent or approval. In the case of officers and other Persons subject to Section 16(b) of the
Securities Exchange Act of 1934, as amended, the Committee may at any time impose any limitations upon the exercise of an Option that, in the Committee’s discretion, are necessary or desirable in order to comply with such Section 16(b) and the
rules and regulations thereunder. If the Company, as part of an offering of securities or otherwise, finds it desirable because of federal or state regulatory requirements to reduce the period during which any Options may be exercised, the
Committee, may, in its discretion and without the Participant’s consent, so reduce such period on not less than 15 days written notice to the holders thereof. 
  
 VI.5 Nontransferability. Options may not be transferred other than by will or the laws of descent and distribution
and, during the lifetime of the Participant, may be exercised only by such Participant (or his legal guardian or legal representative). In the event of the death of a Participant, exercise of Options granted hereunder shall be made only: 

 
 (i) by the executor or administrator of the estate of the
deceased Participant or the Person or Persons to whom the deceased Participant’s rights under the Option shall pass by will or the laws of descent and distribution; and 
  
 (ii) to the extent that the deceased Participant was entitled thereto at the date of his death, unless
otherwise provided by the Committee in such Participant’s Option Agreement. 
  

 -6- 

 VI.6 Expiration of Options. 
  
 (a) Normal Expiration. In no event shall any part of any Option be exercisable after the date of expiration thereof
(the “Expiration Date”), as determined by the Committee pursuant to paragraph 5.6 above. 
  
 (b) Early Expiration Upon Termination of Employment. Except as otherwise provided by the Committee in the Option Agreement or as otherwise required
in paragraph 5.7 above, any portion of a Participant’s Option that was not vested and exercisable on the date of the termination of such Participant’s employment shall expire and be forfeited as of such date, and any portion of a
Participant’s Option that was vested and exercisable on the date of the termination of such Participant’s employment shall expire and be forfeited as of such date, except that: (i) if any Participant dies or becomes subject to any
Disability, such Participant’s Option shall expire 180 days after the date of his death or Disability, but in no event after the Expiration Date, (ii) if any Participant retires (with the approval of the Board), his Option shall expire 90 days
after the date of his retirement, but in no event after the Expiration Date, and (iii) if any Participant is discharged other than for Cause, such Participant’s Option shall expire 30 days after the date of his discharge, but in no event after
the Expiration Date. 
  
 VI.7 Withholding of Taxes. The
Company shall be entitled, if necessary or desirable, to withhold from any Participant from any amounts due and payable by the Company to such Participant (or secure payment from such Participant in lieu of withholding) the amount of any withholding
or other tax due from the Company with respect to any shares issuable under the Options, and the Company may defer such issuance unless indemnified to its satisfaction. 
  
 VI.8 Adjustments. In the event of a reorganization, recapitalization, stock dividend or stock split, or combination
or other change in the shares of Class A Common Stock, the Board or the Committee shall, in order to prevent the dilution or enlargement of rights under outstanding Options, make such adjustments in the number and type of shares authorized by the
Plan, the number and type of shares covered by outstanding Options and the exercise prices specified therein as may be determined to be appropriate and equitable. The issuance by the Company of shares of stock of any class, or options or securities
exercisable or convertible into shares of stock of any class, for cash or property, or for labor or services either upon direct sale, or upon the exercise of rights or warrants to subscribe therefor, or upon exercise or conversion of other
securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Class A Common Stock then subject to any Options. 
  
 VI.9 Rights of Participants. Nothing in this Plan or in any Option Agreement shall interfere with or limit in any way
the right of the Company to terminate any Participant’s employment at any time (with or without Cause), nor confer upon any Participant any right to continue in the employ of the Company for any period of time or to continue his present (or any
other) rate of compensation, and except as otherwise provided under this Plan or by the Committee in the Option Agreement, in the event of any Participant’s termination of employment (including, but 

  

 -7- 

 
not limited to, the termination by the Company without Cause) any portion of such Participant’s Option that was not previously vested and exercisable
shall expire and be forfeited as of the date of such termination. No employee shall have a right to be selected as a Participant or, having been so selected, to be selected again as a Participant. 
  
 VI.10 Amendment, Suspension and Termination of Plan. The Board may
suspend or terminate the Plan or any portion thereof at any time and may amend it from time to time in such respects as the Board may deem advisable; provided that no such amendment shall be made without stockholder approval to the extent
such approval is required by law, agreement or the rules of any exchange upon which the Class A Common Stock is listed, and no such amendment, suspension or termination shall impair the rights of Participants under outstanding Options without the
consent of the Participants affected thereby. No Options shall be granted hereunder after the tenth anniversary of the adoption of the Plan. 
  
 VI.11 Amendment, Modification and Cancellation of Outstanding Options. The Committee may amend or modify any Option in any manner to the extent
that the Committee would have had the authority under the Plan initially to grant such Option; provided that no such amendment or modification shall impair the rights of any Participant under any Option without the consent of such
Participant. With the Participant’s consent, the Committee may cancel any Option and issue a new Option to such Participant. 
  
 VI.12 Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or the Committee, the members
of the Committee shall be indemnified by the Company against all costs and expenses reasonably incurred by them in connection with any action, suit or proceeding to which they or any of them may be party by reason of any action taken or failure to
act under or in connection with the Plan or any Option granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding; provided that any such Committee member shall be entitled to the indemnification rights set forth in this paragraph 6.12 only if such member has acted in good faith and in a
manner that such member reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that such conduct was unlawful, and further provided
that upon the institution of any such action, suit or proceeding a Committee member shall give the Company written notice thereof and an opportunity, at its own expense, to handle and defend the same before such Committee member undertakes to handle
and defend it on his own behalf. 
  
 *        *        *        * 
  

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