Document:

EX-10.11

 Exhibit 10.11 

WING STOP HOLDING CORPORATION 2010 STOCK OPTION PLAN 

STOCK OPTION CERTIFICATE 
 EBITDA
AND SERVICE VESTING GRANT 
 This Option Certificate (this “Option Certificate”) evidences the grant by Wing Stop Holding
Corporation (the “Company”), in accordance with the Wing Stop Holding Corporation 2010 Stock Option Plan (the “Plan”), of a Stock Option (the “Option”) to
[                ] (“Eligible Employee”) to purchase from the Company
[                ] shares of the $.01 par value common stock of the Company (the “Shares”) at an Option Price per share equal to
$[                ]. This Option is granted effective as of [                ] (the
“Grant Date”). This Option is a non-qualified option; that is, it is not qualified as an incentive stock option under § 422 of the Code. 
  

					
	WING STOP HOLDING CORPORATION
		
	By:		  

			Name:		Stephen D. Aronson
			Title:		Director

 TERMS AND CONDITIONS 

§1 Plan. This Option is subject to all of the terms and conditions set forth in the Plan and this Option Certificate, and all
capitalized terms not otherwise defined in this Option Certificate have the respective meaning of such terms as defined in the Plan. If a determination is made that any tern or condition set forth in this Option Certificate is inconsistent with the
Plan, the Plan will control. A copy of the Plan will be made available to Eligible Employee upon written request to the Secretary of the Company. 

§2 Exercise Rights. 

(a) EBITDA Target Vesting. The Option to purchase the number of Shares described in § 2(a)(4) (the “EBITDA
Target Option”) will vest and become exercisable upon the Company’s achievement of EBITDA Targets, as set forth below in this § 2(a). 

(1) EBITDA. For purposes of this Option Certificate, “EBITDA” means earnings before interest, taxes,
depreciation, and amortization for a fiscal year. The amount of EBITDA actually achieved for a year will be determined by the Board based upon the Company’s audited financial statements, as reviewed and approved by the Board. 

(2) Annual Targets. If Eligible Employee remains continuously employed by the Company or a Subsidiary
(“Employer”) throughout the respective year, and the annual EBITDA target for that year, as set forth in §2(a)(4), (each, an “EBITDA Target”), is met or exceeded during that year, as reflected in the Company’s annual
audited financial statements, then the EBITDA Target Option automatically will become vested and exercisable with respect to the number of Shares set forth opposite such annual EBITDA Target for that year. If the annual EBITDA Target for a year as
set forth in §2(a)(4) is not met or exceeded for that year, then the EBITDA Target Option automatically will be 

 
forfeited with respect to the number of Shares set forth opposite such annual EBITDA Target, except as provided in §2(a)(5) and §2(a)(6) below. For the avoidance of doubt, if the actual
EBITDA for one year does not meet or exceed the applicable EBITDA Target, but the actual EBITDA for the following year meets or exceeds the applicable EBITDA Target for that year, then the EBITDA Target Option will become vested only with respect to
the number of Shares for the year in which the EBITDA Target is attained, and not with respect to the number of Shares for the preceding year in which the EBITDA Target was not attained. 

(3) EBITDA Target Adjustment. The EBITDA Targets in §2(a)(4) may be adjusted upward by the Board in its discretion
to take into consideration earnings that result from capital expenditures, acquisitions or other extraordinary expenditures. The EBITDA Targets in §2(a)(4) may be adjusted by the Board in its discretion to take into consideration accounting
changes which go into effect subsequent to the establishment of the EBITDA Targets. 
 (4) EBITDA Targets. 

 

									
	 Year Ending
	  	Annual EBITDA Target	 	  	Number of Shares	 
	 year ended 12-31-[    ]
	  	$	[    ]	  	  	 	[            ]	  
	 year ended 12-31-[    ]
	  	$	[    ]	  	  	 	[            ]	  
	 year ended 12-31-[    ]
	  	$	[    ]	  	  	 	[            ]	  
	 year ended 12-31-[    ]
	  	$	[    ]	  	  	 	[            ]	  
	 year ended 12-31-[    ]
	  	$	[    ]	  	  	 	[            ]	  

 (5) If Eligible Employee is continuously employed by Employer through fiscal year
[            ] and if the Company meets or exceeds [    ]% of the EBITDA Target in [    ], or in the case of a Change in Control prior to
December 31, [            ], has met or exceeded [    ]% of the EBITDA Target the year prior to the Change in Control and the Board determines that the Company is
on track to meet or exceed [    ]% of the current year’s EBITDA Target, then Eligible Employee will vest in any portion of the previous year’s EBITDA Target Option that was not earned due to missing that year’s
EBITDA Target, subject to the termination provisions below. 
 (6) If Eligible Employee is continuously employed by Employer
through the date of a Change in Control that occurs prior to December 31, [            ], then Eligible Employee will vest in the portion of the EBITDA Target Option for the year in
which the Change of Control occurs and for any subsequent year so long as both of the following conditions are satisfied: (i) during the year preceding the Change of Control, the Company achieved the EBITDA Target for a year following the
Change of Control, and (ii) the Board determines in its sole discretion that the Company is on track to achieve the EBITDA Target for such subsequent year in the year in which the Change in Control occurs. For example, if the Change in Control
occurs during [    ], and the Company achieves $[        ] of EBITDA during [    ], and the Board determines in its sole discretion that the

  
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Company is on track to achieve at least $[        ] in EBITDA during [    ], then Executive will vest in the EBITDA Target Option for
each of years [    ], [    ], [    ], [    ] and [    ]. If the Change in Control occurs during [    ], and the Company achieves
$[        ] of EBITDA during [    ], and the Board determines in its sole discretion that the Company is on track to achieve at least $[        ] in
EBITDA during [    ], then Executive will vest in the EBITDA Target Option for each of years [    ], [    ], and [    ], but not [    ] or
[    ]. If the Change in Control occurs during [    ], and the Company achieves $[        ] of EBITDA during [    ], and the Board determines in its
sole discretion that the Company is on track to achieve $[        ] in EBITDA during [    ], then Executive will vest in the EBITDA Target Option for each of years
[    ] and [    ], but not [    ], [    ] or [    ]. 

(b) Service Based Vesting. The Option to purchase
[                ] Shares (the “Service Based Option”) will vest and will become exercisable according to the following service based vesting schedule: 

(1) Eligible Employee will vest with respect to [    ]% of the Service Based Option if Eligible Employee
remains continuously employed by Employer the first anniversary of the Grant Date (the initial “Vesting Date”); and Eligible Employee will vest with respect to an additional [    ]% of the Service Based Option on each
of the next [    ] anniversaries of the initial Vesting Date if Eligible Employee remains continuously employed by Employer through the respective anniversary date (e.g., if Eligible Employee is continuously employed as of the
[    ] anniversary of the initial Vesting Date, the Service Based Option would be [    ]% vested). 

(c) Special Rules. 

(1) Termination without Cause. Subject to §3, if Employer terminates Eligible Employee’s employment without
“Cause” (as defined in §2(d)), then the Option, to the extent then vested and exercisable, must be exercised within [    ] days of the effective date of such termination. At the end of such
[    ]-day period, the Option will expire and be forfeited to the extent then un-exercised. The unvested remainder of the Option will be immediately and automatically forfeited upon the effective date of such termination of
employment. 
 (2) Termination for Cause. If Employer terminates Eligible Employee’s employment for Cause, the
Option will expire and be forfeited in full immediately and automatically at the time Eligible Employee’s employment terminates, whether vested or not. 

(3) Resignation. If Eligible Employee terminates his employment, Eligible Employee must exercise the portion of the
Option that is vested prior to his resignation or it will be forfeited. The portion of the Option that is not vested will be forfeited automatically upon resignation. 

  
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 (4) Death or Permanent Disability. Subject to §3, if Eligible
Employee’s employment with Employer terminates due to “Permanent Disability” (as defined in §2(d)) or death, the Option to the extent then vested and exercisable must be exercised within [    ] days of such
death or Permanent Disability. At the end of such [    ] day period, the Option shall expire and be forfeited to the extent then un-exercised. The unvested remainder of the Option shall be immediately and automatically forfeited
upon Eligible Employee’ s death or Permanent Disability. In the case of death or Permanent Disability, for purposes of determining vesting under §2(a) and §2(b) with respect to the EBITDA Target Option and the Service Based Option,
respectively, Eligible Employee’s employment will be deemed to have been terminated on the last day of the year in which the death or Permanent Disability occurs, and that year will count towards the applicable vesting schedule (subject to the
achievement of EBITDA Targets, in the case of the EBITDA Target Option). 
 (5) Change in Control. If there is a
Change Effective Date for a Change in Control, then to the extent not otherwise vested pursuant to §2(a) or §2(b), the unvested portion of the Option shall be forfeited as of the Change Effective Date. The vested portion of the Option must
be exercised within [    ] calendar days following receipt by the Eligible Employee of written notice of the Change in Control from the Board; any vested portion of the Option that is not exercised within such
[    ] day period will be cancelled as of the Change Effective Date. 
 (d) Definitions. 

(1) Cause. For purposes of this Option Certificate, “Cause” has the meaning specified in Eligible
Employee’s employment agreement with Wingstop Restaurants, Inc. 
 (2) Permanent Disability. For purposes of this
Option Certificate, “Permanent Disability” has the meaning specified in Eligible Employee’s employment agreement with Wingstop Restaurants, Inc. 

(3) Subsidiary. A “Subsidiary” means any entity as to which the Company owns, directly or indirectly, more
than 50% of the voting equity interests. 
 (e) Employment Status. A transfer between the Company and a Subsidiary, or
between Subsidiaries, shall not be treated as a termination of employment with Employer under the Plan or this Option Certificate. 

§3 Life of Option. This Option shall expire and shall not be exercisable for any reason on or after the [    ]
anniversary of the Vesting Date. 
 §4 Method of Exercise of Option. Eligible Employee may exercise the Option in whole or in
part (to the extent the Option is otherwise exercisable under §2) on any normal business day of the Company by (a) delivering this Option Certificate to the Company, together 

  
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with written notice of the exercise of the Option, and (b) simultaneously paying to the Company the Option Price. The Option Price shall be payable in full upon the exercise of the Option in
cash. 
 §5 Delivery. The Company will deliver a properly issued certificate for any Shares purchased pursuant to the exercise
of the Option as soon as practicable after such exercise (or otherwise register such Shares in the name of Eligible Employee), and such delivery (or registration in the name of Eligible Employee) shall discharge the Company of all of its duties and
responsibilities with respect to the Option under this Option Certificate. 
 §6 Nontransferable. Except as expressly authorized
in writing by the Board, no rights granted under this Option Certificate or with respect to the Option shall be transferable by Eligible Employee other than by will or by the laws of descent and distribution, and the rights granted under this Option
Certificate with respect to the Option shall be exercisable during Eligible Employee’s lifetime only by Eligible Employee. The person or persons, if any, to whom the Option is transferred by will or by the laws of descent and distribution or
through a written Board authorization shall be treated after such transfer the same as Eligible Employee under this Option Certificate. 

§7 Release. 

(a) As a condition to Eligible Employee’s right to retain his rights under this Option Certificate with respect to the
Option, if Eligible Employee’s employment with the Company or one of its Subsidiaries is terminated for any reason, then the Company, at its option, may require Eligible Employee (or his executor, personal representative or assigns) to execute
a general release and non-disparagement agreement on behalf of Eligible Employee and Eligible Employee’s heirs, executors, administrators and assigns, releasing all claims, actions and causes of action against the Company and each parent,
subsidiary and affiliate of the Company (including RC II Wingstop, LLC, Roark Capital Management LLC and its their respective affiliates), and their respective current and former directors, officers, administrators, trustees, employees, agents, and
other representatives. Such release and non-disparagement agreement must be executed and delivered to the Company within [    ] business days following request from the Company and must be in form and substance satisfactory to
the Board. 
 (b) As a condition to the Company’s obligation to issue the Shares upon exercise of the Option, the
Company, at its option, may require Eligible Employee (or his executor, personal representative or assigns) to execute a general release on behalf of Eligible Employee and Eligible Employee’s heirs, executors, administrators and assigns,
releasing all claims, actions and causes of action against the Company and each parent, subsidiary and affiliate of the Company (including RC II Wingstop, LLC, Roark Capital Management LLC and its their respective affiliates), and their respective
current and former directors, officers, administrators, trustees, employees, agents, and other representatives. Such release must be in form and substance satisfactory to the Board. 

§8 No Right to Continue Service. Neither the Plan, this Option Certificate, the Option, nor any related material shall give
Eligible Employee the right to continue in employment by Employer or any affiliate or shall adversely affect the right of Employer or any affiliate to terminate Eligible Employee’s employment with or without Cause at any time. 

  
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 §9 Shareholder Status. Eligible Employee shall have no rights as a shareholder with
respect to any Shares under this Option Certificate until such Shares have been duly issued and delivered to (or registered in the name of) Eligible Employee and, except as expressly set forth in the Plan, no adjustment shall be made for dividends
of any kind or description whatsoever or for distributions of other rights of any kind or description whatsoever respecting such Shares. 

§10 Securities Registration. As a condition to the delivery of the certificate for any Shares purchased pursuant to the exercise
of the Option (or the registration of such Shares in the name of Eligible Employee), Eligible Employee shall, if so requested by the Company, hold such Shares for investment and not with a view of resale or distribution to the public and, if so
requested by the Company, shall deliver to the Company a written statement satisfactory to the Company to that effect. 
 §11 Other
Laws. If any change in circumstances after the grant of the Option would create a substantial risk for the Company that the issuance or transfer of any Shares under this Option Certificate to Eligible Employee at the time Eligible Employee
tenders any payment to exercise the Option would violate any applicable law or regulation, the Company at that time shall (a) take such action as the Board deems appropriate and permissible under such law or regulation either (1) to
continue to maintain the status of the Option as outstanding until Eligible Employee can exercise the Option without any substantial risk of such a violation, or (2) to compensate Eligible Employee for the cancellation of the Option and
thereafter to cancel the Option, and (b) refund any payment made by Eligible Employee to exercise the Option. 
 §12 Other
Agreements. Eligible Employee shall (as a condition to the exercise of the Option) enter into such additional shareholder, covenant not to compete, non-disparagement and non-solicitation and other agreements as the Company deems appropriate, all
in a form acceptable to the Board. The certificate(s) evidencing the Shares may include one or more legends that reference or describe the conditions upon exercise referenced in this §12. 

§13 Withholding. Employer or an affiliate shall have the right upon the exercise of the Option to take such action as Employer or
such other affiliate deems necessary or appropriate to satisfy the statutory federal and state tax withholding requirements arising out of the exercise of the Option, including withholding Shares that otherwise would be transferred to Eligible
Employee as a result of the exercise of the Option to satisfy statutory withholding requirements. 
 §14 Governing Law. The Plan
and this Option Certificate shall be governed by the laws of the State of Georgia. 
 §15 Binding Effect. This Option
Certificate shall be binding upon the Company and Eligible Employee and their respective heirs, executors, administrators and successors. 

§16 Headings and Sections. The headings contained in this Option Certificate are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Option Certificate. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such
reference. 

  
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 Exhibit 10.15 

WINGSTOP RESTAURANTS, INC. 

CHANGE IN CONTROL BONUS AWARD AGREEMENT 

GRANT 
 Wingstop
Restaurants, Inc. (the “Company”) hereby grants to                         (“[Grantee/Executive]”) a Change
in Control Bonus Award (the “Bonus”) in the amount determined pursuant to Section 2 below, which Bonus will become payable only upon consummation of a transaction resulting in a Change in Control (as defined in Section 1 below) of Wing
Stop Holding Corporation (“Parent”), and is subject to [Grantee/Executive]’s compliance with each of the requirements of this Change in Control Bonus Award Agreement (this “Agreement”). [Grantee/Executive] hereby accepts the
Bonus described in this Agreement subject to the terms and conditions set forth in this Agreement. 
  

									
	WINGSTOP RESTAURANTS, INC.				[GRANTEE/EXECUTIVE]
					
	 By:
		  
				By:		  

			Name:						Date:
			Title:						
			Date:						

 TERMS AND CONDITIONS 

§ 1 Payment of Bonus. 
 (a) A
Bonus will become payable to [Grantee/Executive] upon the consummation of a transaction that results in a Change in Control of Parent, subject to the terms and conditions set forth in this Agreement. The amount of the Bonus will be as calculated in
Section 2, and the payment terms are as set forth in Section 3. 
 (b) A “Change in Control” means the first to occur of: (i) the
sale of all or substantially all of the assets of Parent and its subsidiaries, taken as a whole, or (ii) a person (or more than one person acting as a group) acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or group), whether by stock sale, merger, exchange, or other transaction, ownership of common stock of Parent possessing more than 50% of the total voting power of the stock of Parent; provided that, a sale or transfer
from one Roark Capital Management affiliate to another Roark Capital Management affiliate will not be considered for purposes of determining a Change in Control. 

§ 2 Calculation of Amount of Bonus. 

(a) Subject to Section 2(b), the Bonus that will be payable upon the consummation of a Change in Control is a dollar amount equal to the
number of [Grantee/Executive]’s Covered Securities, multiplied by [     ] (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations).
[Grantee/Executive]’s “Covered Securities” means 

 
(i) the number of shares of the $.01 par value common stock of Parent (“Common Stock”) owned by [Grantee/Executive] immediately prior to the consummation of
the Change in Control as the result of [Grantee/Executive]’s exercise of a Covered Option after [                    ],
201[    ], plus (ii) the number of vested Covered Options that are acquired from the [Grantee/Executive] for consideration in connection with the Change in Control transaction. “Covered Option” means an option to
acquire shares of Common Stock issued to [Grantee/Executive] prior to [                    ], 201[    ]. 

(b) Notwithstanding Section 2(a) above, if the consideration payable with respect to a share of Common Stock in connection with the Change in
Control transaction is equal to or less than $[    ] per share, then no Bonus will be payable pursuant to this Agreement. 

(c) Notwithstanding Section 2(a) above, if [Grantee/Executive] is not [affiliated/employed] [(either by way of employment or by serving on the
Parent’s Board of Directors)] with the Company, or any subsidiary of the Company, on the date of the consummation of the Change of Control transaction, then no Bonus will be payable pursuant to this Agreement. 

§ 3 Time and Form of Payment. Such Bonus, if any, will be paid to [Grantee/Executive] in cash on the same schedule and under the same terms
and conditions as apply to payments to be received by shareholders of Parent in connection with such Change in Control transaction (but in no event later than five (5) years following the effective date of such Change in Control transaction). 

§ 4 Release. As a condition to the Company paying the Bonus pursuant to this Agreement, [Grantee/Executive] must execute and not revoke a
general release on behalf of [Grantee/Executive] and [Grantee/Executive]’s heirs, executors, administrators and assigns, releasing all claims, actions and causes of action against Parent, the Company and each subsidiary and affiliate of the
Company, and their respective current and former shareholders, directors, officers, administrators, trustees, employees, agents, and other representatives. Such release shall be in form and substance satisfactory to the Company, and must be
delivered to the Company and become non-revocable prior to the date on which payments to shareholders of Parent in connection with the Change in Control transaction are made as contemplated under Section 3 above. 

§ 5 No Right to Continue Service. Neither the Bonus nor this Agreement shall give [Grantee/Executive] the right to continue his
[affiliation/employment] with the Company, or any subsidiary or affiliate of the Company, or shall adversely affect the right of the Company, or any subsidiary or affiliate of the Company, to terminate [its affiliation with] [Grantee/Executive] with
or without cause at any time. 
 § 6 Confidential Information. 

(a) [Grantee/Executive], while [affiliated/employed] with the Company and during the five (5) year period following termination of
[Grantee/Executive]’s [affiliation/employment] with the Company (except that a trade secret shall not be disclosed for so long as it remains a 

  
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trade secret), agrees that he shall hold in a fiduciary capacity for the benefit of the Company and shall not directly or indirectly use or disclose, any “Confidential
Information” that [Grantee/Executive] may have acquired (whether or not developed or compiled by [Grantee/Executive] and whether or not [Grantee/Executive] is authorized to have access to such information) during the term of, and in the course
of, or as a result of [Grantee/Executive]’s [affiliation/employment] with the Company. 
 (b) The term “Confidential
Information” means any secret, confidential or proprietary information possessed by the Company or any of its subsidiaries or affiliates relating to its businesses, including, without limitation, trade secrets, customer lists, details of client
or consultant contracts, the terms and conditions of this Agreement (including the amount of the Bonus), current and anticipated customer requirements, pricing policies, price lists, market studies, business plans, licensing strategies, advertising
campaigns, operational methods, marketing plans or strategies, product development techniques or flaws, computer software programs (including object code and source code), data and documentation, data base technologies, systems, structures and
architectures, inventions and ideas, past, current and planned research and development, compilations, devices, methods, techniques, processes, financial information and data, business acquisition plans and new personnel acquisition plans, that has
not become generally available to the public by the act of one who has the right to disclose such information without violating any right of the Company. 

§ 7 Cooperation. [Grantee/Executive] agrees that, following the termination of [Grantee/Executive]’s [affiliation/employment] with the
Company, [Grantee/Executive] will cooperate with all reasonable requests by the Company (or any subsidiary or affiliate of the Company) for assistance in connection with any investigations or legal proceedings involving the Company (or any
subsidiary or affiliate of the Company). 
 § 8 Non-Disparagement. [Grantee/Executive] agrees that [Grantee/Executive] will not make any
statement, written or verbal, to any person or entity, including in any forum or media, or take any action, in disparagement of the Company, the Board of Directors of the Company, or any of their respective current, former or future affiliates, or
any current, former or future shareholders, partners, managers, members, officers, directors, employees, franchisors or franchisees of any of the foregoing (each, a “Company Party”), including negative references to or about any Company
Party’s services, policies, practices, documents, methods of doing business, strategies, objectives, shareholders, partners, managers, members, officers, directors, or employees, or take any other action that may disparage any Company Party to
the general public and/or any Company Party’s officers, directors, employees, clients, franchisees, potential franchisees, suppliers, investors, potential investors, business partners or potential business partners. The provisions of this
Section 8 will survive the termination of [Grantee/Executive]’s [affiliation/employment] with the Company. 
 § 9 Withholding. The
Company or any subsidiary or affiliate of the Company shall have the right to take such action as the Company or such subsidiary or affiliate deems necessary or appropriate to satisfy the minimum statutory federal and state tax withholding
requirements arising out of payment of the Bonus. 

  
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 § 10 Governing Law. This Agreement shall be governed by the laws of
the State of Texas. 
 § 11 Binding Effect. This Agreement shall be binding upon the Company and [Grantee/Executive] and their respective
heirs, executors, administrators and successors. 
 § 12 409A Provisions. The parties intend that payments under this Agreement comply with
or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder (collectively, “Code Section 409A”), and the Company shall have complete discretion to interpret and construe this Agreement and any
associated documents in any manner that establishes an exemption from (or compliance with) the requirements of Code Section 409A. If, for any reason, any provision of this Agreement does not accurately reflect its intended establishment of an
exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent, such provision shall be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall
be interpreted by the Company in a manner consistent with such intent, as determined in the discretion of the Company. The Company makes no representation or warranty and shall have no liability to [Grantee/Executive] or any other person if any
provisions of this Agreement are determined to constitute deferred compensation subject to Code Section 409A, but do not satisfy an exemption from, or the conditions of, Code Section 409A. 

§ 13 Headings and Sections. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. Any references to sections (§) in this Agreement shall be to sections (§) of this Agreement unless otherwise expressly stated as part of such reference. 

  
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