Document:

Form of Stockholders Agreement

 Exhibit 10.56 

 
  

 
 STOCKHOLDERS AGREEMENT

 AMONG 

BLOOMIN’ BRANDS, INC. 
 AND 
 CERTAIN STOCKHOLDERS OF BLOOMIN’ BRANDS, INC. 

DATED AS OF [                     ],
2012 
  
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
	 1.
	 	EFFECTIVENESS; DEFINITIONS.	  	 	1	  
				
		 	 1.1.
	  	Closing.	  	 	1	  
				
		 	 1.2.
	  	Definitions.	  	 	1	  
			
	 2.
	 	GOVERNANCE.	  	 	2	  
				
		 	 2.1.
	  	Board of Directors.	  	 	2	  
				
		 	 2.2.
	  	Termination of Governance Provisions.	  	 	4	  
			
	 3.
	 	REMEDIES.	  	 	5	  
				
		 	 3.1.
	  	Generally.	  	 	5	  
			
	 4.
	 	AMENDMENT, TERMINATION, ETC.	  	 	5	  
				
		 	 4.1.
	  	Written Modifications.	  	 	5	  
				
		 	 4.2.
	  	Effect of Termination.	  	 	5	  
			
	 5.
	 	DEFINITIONS. For purposes of this Agreement:	  	 	5	  
				
		 	 5.1.
	  	Certain Matters of Construction.	  	 	5	  
				
		 	 5.2.
	  	Definitions.	  	 	5	  
			
	 6.
	 	MISCELLANEOUS.	  	 	7	  
				
		 	 6.1.
	  	Authority; Effect.	  	 	7	  
				
		 	 6.2.
	  	Notices.	  	 	7	  
				
		 	 6.3.
	  	Binding Effect, Etc.	  	 	9	  
				
		 	 6.4.
	  	Descriptive Headings.	  	 	9	  
				
		 	 6.5.
	  	Counterparts.	  	 	9	  
				
		 	 6.6.
	  	Severability.	  	 	9	  
			
	 7.
	 	GOVERNING LAW.	  	 	9	  
				
		 	 7.1.
	  	Governing Law.	  	 	9	  
				
		 	 7.2.
	  	Consent to Jurisdiction.	  	 	9	  
				
		 	 7.3.
	  	WAIVER OF JURY TRIAL.	  	 	10	  
				
		 	 7.4.
	  	Exercise of Rights and Remedies.	  	 	10	  

 STOCKHOLDERS AGREEMENT 

This Stockholders Agreement (the “Agreement”) is made as of
[                    ], 2012 by and among: 
  

	 	(i)	Bloomin’ Brands, Inc., a Delaware corporation (the “Company”); 

 

	 	(ii)	each of Bain Capital (OSI) IX, L.P., Bain Capital (OSI) IX Coinvestment, L.P., BCIP TCV, LLC, Bain Capital Integral Investors 2006, LLC and BCIP Associates—G
(collectively, the “Bain Funds”); 

  

	 	(iii)	Catterton Partners VI—Kangaroo, L.P. and Catterton Partners VI—Kangaroo Coinvest, L.P. (collectively, the “Catterton Funds”); and

  

	 	(iv)	The Chris T. Sullivan Foundation, the Ashley Sullivan Irrevocable Trust, Ashley Sullivan, the Alexander Sullivan Irrevocable Trust, Alexander Sullivan, CTS Equities
Limited Partnership (together with the foregoing, collectively, the “Sullivan Entities”), RDB Equities Limited Partnership and JTG Equities Limited Partnership (collectively, the “Founders”).

 RECITALS 
 1. On or about the date hereof, the Company is consummating an Initial Public Offering. 
 2. The Company, the Bain Funds, the Catterton Funds, the Founders and certain other parties previously entered into a Stockholders Agreement dated June 14, 2007, the terms of which terminate in
connection with an Initial Public Offering. 
 3. The parties believe that it is in the best interests of the Company, the
Founders and the Sponsors to set forth their agreements on certain matters. 
 AGREEMENT 

Therefore, the parties hereto hereby agree as follows: 
 1. EFFECTIVENESS; DEFINITIONS. 
 1.1. Closing. This
Agreement shall become effective upon the closing of the Initial Public Offering (referred to herein as the “Closing”). 
 1.2. Definitions. Certain terms are used in this Agreement as specifically defined herein. These definitions are set forth or referred to in Section 5 hereof. 

 2. GOVERNANCE. 

2.1. Board of Directors. 
 (a) Concurrently with the effectiveness of this Agreement, the Company, the Sponsors and the Founders shall take all Necessary Action to cause the board of directors of the Company (the “Board of
Directors”) to be comprised of eight (8) directors, (i) three (3) of whom shall be designated by the Bain Funds (each such director, a “Bain Director”), (ii) one (1) of whom shall be designated by
the Catterton Funds (the “Catterton Director” and together with the Bain Directors, the “Sponsor Directors”), (iii) two (2) of whom shall be shall be designated by the Founders (each such director, a
“Founder Director”), provided that one (1) Founder Director shall be Chris T. Sullivan and the other Founder Director shall be Robert D. Basham, (iv) one (1) of whom shall be the Chief Executive Officer (or
equivalent) of the Company (the “Company Director”) and (v) one (1) of whom shall be an independent director who meets the independence criteria set forth in Rule 10A-3 of the Exchange Act (the “Unaffiliated
Director”). Within ninety (90) days of the effectiveness of this Agreement, the Company, the Sponsors and the Founders shall take all Necessary Action to cause the Board of Directors to increase in size by one (1) director to nine
(9) directors and to fill such vacancy with one (1) additional Unaffiliated Director (the “90-Day Unaffiliated Director”) who shall be appointed by a majority of the Board of Directors, which majority must include at least
one Bain Director. Each of the foregoing directors shall be divided into three classes of directors, each of whose members shall serve for staggered three-year terms as follows: 

the class I directors shall include one (1) Bain Director, one (1) Founder Director and the Company Director, and their term
will expire at the annual meeting of stockholders to be held in 2013; 
 the class II directors shall include one (1) Bain
Director, one (1) Founder Director and the 90-Day Unaffiliated Director, and their term will expire at the annual meeting of stockholders to be held in 2014; and 
 the class III directors shall be one (1) Bain Director, the Unaffiliated Director and the Catterton Director, and their term will expire at the annual meeting of stockholders to be held in 2015.

 For the avoidance of doubt, this Section 2.1(a) is applicable solely to the initial composition of the
Board of Directors and shall have no further force or effect after the 90-Day Unaffiliated Director is appointed to the Board of Directors. 
 (b) For so long as the Sponsors or the Bain Funds Beneficially Own (directly or indirectly) Common Stock representing at least fifteen (15) percent of the then outstanding shares of Common Stock,
there shall be included in the slate of nominees recommended by the Board of Directors for election as directors at each applicable annual or special meeting of shareholders at which directors are to be elected that number

  
 2 

 
of individuals designated by the Bain Funds and the Catterton Funds, respectively, that, if elected, will result in two (2) Bain Directors and one (1) Catterton Director, each serving
in a separate class of directors on the Board of Directors; provided, however, that, if at the time such slate of nominees is recommended by the Board of Directors, the Catterton Funds own less than one (1) percent of the then
outstanding shares of Common Stock, such slate shall include that number of individuals designated by the Bain Funds that if elected will result in three (3) Bain Directors, each serving in a separate class of directors on the Board of
Directors and no Catterton Director shall be required to be included. For so long as the Sponsors or the Bain Funds Beneficially Own (directly or indirectly) Common Stock representing less than fifteen (15) percent, but at least three
(3) percent, of the then outstanding shares of Common Stock, there shall be included in the slate of nominees recommended by the Board of Directors for election as directors at each applicable annual or special meeting of shareholders at which
directors are to be elected that number of individuals designated by the Bain Funds that, if elected, will result in two (2) Bain Directors, each serving in a separate class of directors on the Board of Directors; provided,
however, that, if at the time such slate of nominees is recommended by the Board of Directors, the Catterton Funds own a greater percentage of the then outstanding shares of Common Stock than the Bain Funds, such slate shall include that
number of individuals designated by the Bain Funds and the Catterton Funds, respectively, that, if elected, will result in one (1) Bain Director and one (1) Catterton Director, each serving in a separate class of directors on the Board of
Directors. The Company shall not be required to include any Sponsor Directors in the slate of nominees recommended by the Board of Directors for election as directors at each applicable annual or special meeting of shareholders at which directors
are to be elected once the Sponsors Beneficially Own (directly or indirectly) Common Stock representing less than three (3) percent of the then outstanding shares of Common Stock. 

(c) In the event that a vacancy is created at any time by the death, disability, retirement, resignation or removal of any
Bain Director or Catterton Director, the Company hereby agrees to take all Necessary Action to cause the vacancy created thereby to be filled as soon as practicable by a Bain Director or Catterton Director, as the case may be. 

(d) For so long as the Sponsors or the Bain Funds Beneficially Own (directly or indirectly) Common Stock representing at
least forty (40) percent of the then outstanding shares of Common Stock, the Board of Directors shall not, and the Company will take all Necessary Action to ensure that the Board of Directors shall not, exceed nine (9) directors;
provided, however, that at any time during such period, upon written request of the Bain Directors, the Board of Directors shall, and the Company will take all Necessary Action to ensure the that the Board of Directors shall, as soon
as practicable after receiving such written instruction from the Bain Directors: (i) increase the size of the Board of Directors to such number of directors as specified by the Bain Directors, not to exceed the maximum number of directors
permitted by the Company’s then effective certificate of incorporation (such maximum number of directors not to be less than thirteen (13)), and (ii) appoint such directors to fill the vacancies created thereby as are

  
 3 

 
specified by the Bain Directors. Any director so appointed (each, a “Bain Supplemental Director”) shall be assigned to the class of directors to be elected at the annual meeting
that is latest to occur of the then existing classes of directors. For so long as the Sponsors or the Bain Funds Beneficially Own (directly or indirectly) Common Stock representing at least forty (40) percent of the then outstanding shares of
Common Stock, there shall be included in the slate of nominees recommended by the Board of Directors for election as directors at each applicable annual or special meeting of shareholders at which directors of the class of directors including any
Bain Supplemental Director are to be elected that number of individuals designated by the Bain Funds that if elected will result in no change to the number of Bain Supplemental Directors serving on the Board of Directors. In the event that a vacancy
is created at any time by the death, disability, retirement, resignation or removal of any Bain Supplemental Director, the Company hereby agrees to take all Necessary Actions to cause the vacancy created thereby to be filled as soon as practicable
by a Bain Director (such replacement director to be, following his or her appointment, a Bain Supplemental Director for purposes of this Section 2.1(d)) or to reduce the size of the Board of Directors accordingly, if so directed by the Bain
Directors. 
 (e) The Company shall establish and maintain an audit committee, a compensation committee and a
nominating and governance committee of the Board of Directors, as well as such other board committees as the Board of Directors deems appropriate from time to time or as may be required by applicable law, the rules of any stock exchange on which the
Common Stock of the Company is listed or the FINRA rules. The committees shall have such duties and responsibilities as are customary for such committees, subject to the provisions of this Agreement. Any committee or subcommittee of the Board of
Directors shall include a director nominated by the Bain Funds (but only if the Sponsors or the Bain Funds Beneficially Own (directly or indirectly) Common Stock representing at least thirty-five (35) percent of the then outstanding shares of
Common Stock). Notwithstanding the foregoing, an audit committee of the Board of Directors shall not include any directors nominated by the Sponsors pursuant to this Agreement. 

(f) The Company shall reimburse the members of the Board of Directors for all reasonable out-of-pocket expenses incurred
in connection with their attendance at meetings of the Board of Directors and any committees thereof, including without limitation travel, lodging and meal expenses. 

(g) The Company shall obtain customary director and officer liability insurance on commercially reasonable terms.

 2.2. Termination of Governance Provisions. The provisions of this Section 2 shall terminate upon
the written consent of the Bain Funds and, for so long as they are entitled to a Sponsor Director pursuant to Section 2.1 hereof, the Catterton Funds. 

  
 4 

 3. REMEDIES. 

3.1. Generally. The Company and each party hereto shall have all remedies available at law, in equity or otherwise
in the event of any breach or violation of this Agreement or any default hereunder by the Company or any party hereto. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies which may
be available, each of the parties hereto shall be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including, without limitation, preliminary or temporary relief) as
may be appropriate in the circumstances. 
 4. AMENDMENT, TERMINATION, ETC. 

4.1. Written Modifications. This Agreement may be amended, modified or extended, and the provisions hereof may be
waived, only by an agreement in writing signed by the Bain Funds; provided, however, that the consent of the Catterton Funds shall be required for any amendment, modification, extension or waiver which has an adverse effect on their
rights under this Agreement. Each such amendment, modification, extension and waiver shall be binding upon each party hereto. In addition, each party hereto may waive any right hereunder by an instrument in writing signed by such party or holder.

 4.2. Effect of Termination. No termination under this Agreement shall relieve any Person of liability
for breach prior to termination. 
 5. DEFINITIONS. For purposes of this Agreement: 

5.1. Certain Matters of Construction. In addition to the definitions referred to or set forth below in this
Section 5: 
 (a) The words “hereof,” “herein,” “hereunder” and words of
similar import shall refer to this Agreement as a whole and not to any particular Section or provision of this Agreement; 
 (b) Definitions shall be equally applicable to both nouns and verbs and the singular and plural forms of the terms defined; 

(c) The masculine, feminine and neuter genders shall each include the other; and 

(d) References to Sections, unless otherwise specified, shall refer to Sections of this Agreement. 

5.2. Definitions. The following terms shall have the following meanings: 

“90-Day Unaffiliated Director” has the meaning set forth in Section 2.1. 

“Agreement” has the meaning set forth in the Preamble. 

  
 5 

 “Bain Funds” has the meaning set forth in the Preamble. 

“Bain Director” has the meaning set forth in Section 2.1. 

“Bain Supplemental Director” has the meaning set forth in Section 2.1. 

“Beneficial Ownership” means beneficial ownership within the meaning of Rule 13d-3 under the Exchange Act, or any
successor provision. The term “Beneficially Own” shall have a correlative meaning. 
 “Board of
Directors” has the meaning set forth in Section 2.1. 
 “Catterton Director” has the meaning set
forth in Section 2.1. 
 “Catterton Funds” has the meaning set forth in the Preamble. 

“Closing” has the meaning set forth in Section 1.1. 

“Common Stock” means the common stock, par value $.01 per share, of the Company. 

“Company” has the meaning set forth in the Preamble. 

“Company Director” has the meaning set forth in Section 2.1. 

“Exchange Act” means the Securities Exchange Act of 1934, as in effect from time to time. 

“Founder Director” has the meaning set forth in Section 2.1. 

“Founders” has the meaning set forth in the Preamble. 

“Initial Public Offering” means the initial underwritten public offering registered on Form S-1 (or any successor
form under the Securities Act), after which the Common Stock is listed on a national securities exchange. 
 “Necessary
Action” means, with respect to a specified result, all actions permitted by law necessary to cause such result, including (i) causing members of the Board of Directors (to the extent such members were nominated or designated by the
Person obligated to undertake the Necessary Action, and subject to any fiduciary duties that such members may have as directors of the Company) to act in a certain manner or causing them to be removed in the event they do not act in such a manner
and to adopt resolutions consistent with the foregoing, (ii) executing agreements and instruments, and (iii) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar
actions that are required to achieve such result; provided, however, that taking Necessary Action shall not require the Person obligated to undertake the Necessary Action to vote or provide a written consent or proxy with respect to
the Common Stock. 

  
 6 

 “Person” means any individual, partnership, corporation, company,
association, trust, joint venture, limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Securities Act” means the Securities Act of 1933, as in effect from time to time. 

“Sponsor Director” has the meaning set forth in Section 2.1. 

“Sponsors” means the Bain Funds and the Catterton Funds, collectively. 

“Sullivan Entities” has the meaning set forth in the Preamble. 

“Unaffiliated Director” has the meaning set forth in Section 2.1. 

6. MISCELLANEOUS. 
 6.1. Authority; Effect. Each party hereto represents and warrants to, and agrees with each other party that, the execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or by which its assets are bound. This Agreement does not, and shall not be construed to, give rise
to the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association. 
 6.2. Notices. All notices, requests, demands, claims and other communications required or permitted to be delivered, given or otherwise provided under this Agreement must be in writing and must be
delivered, given or otherwise provided to the address (or facsimile number) listed below. 
 If to the Company, to: 

Bloomin’ Brands, Inc. 
 2202 North West Shore Boulevard 
 Suite 500 

Tampa, FL 33607 

Facsimile: [                     ]

 Attention: Joseph J. Kadow 
 with a copy to: 
 Baker & Hostetler LLP 

PNC Center 

1900 East 9th Street 
 Cleveland, Ohio 44114 
 Facsimile: (216) 696-0740 

Attention: John M. Gherlein 
 Janet A. Spreen 

  
 7 

 If to the Bain Funds, to: 

c/o Bain Capital Partners, LLC 
 John Hancock Tower 
 200 Clarendon Street 

Boston, MA 02116 
 Facsimile: (617) 516-2010 
 Attention: Andrew Balson 

Philip Loughlin 

with a copy to: 

Ropes & Gray LLP 
 Prudential Tower 
 800 Boylston Street 

Boston, Massachusetts 02199 
 Facsimile: (617) 951-7050 
 Attention: Julie H. Jones 

Thomas Holden 

If to the Catterton Funds, to: 
 Catterton Partners 
 599 West Putnam Avenue 

Greenwich, CT 06830 
 Facsimile: (203) 629-4903 
 Attention: J. Michael Chu 

with a copy to: 

Catterton Partners 
 599 West Putnam Avenue 
 Greenwich, CT 06830 

Facsimile: [                    ]

 Attention: Dave McPherson 
 If to a Founder, to him at the address set forth in the stock record book of the Company; 
 with a copy to: 
 Kirkland & Ellis LLP 

Citigroup Center 
 153 East 53rd Street 
 New York, NY 10022 

Facsimile: (212) 446-6460 
 Attention: Michael A. Brosse 

  
 8 

 Each of the parties hereto shall be entitled to specify a different address by giving notice
as aforesaid to each of the other parties hereto. 
 6.3. Binding Effect, Etc. This Agreement constitutes
the entire agreement of the parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter and shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, representatives, successors and assigns. 
 6.4. Descriptive
Headings. The descriptive headings of this Agreement are for convenience of reference only, are not to be considered a part hereof and shall not be construed to define or limit any of the terms or provisions hereof. 

6.5. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an
original, but all of which taken together shall constitute one instrument. 
 6.6. Severability. In the
event that any provision hereof would, under applicable law, be invalid or unenforceable in any respect, the parties hereto will negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in an acceptable manner, to the end that the transactions and relationships contemplated hereby are fulfilled to the fullest possible extent. 
 7. GOVERNING LAW. 
 7.1. Governing Law. This Agreement shall
be governed by and construed in accordance with the domestic substantive laws of the State of New York without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any
other jurisdiction. 
 7.2. Consent to Jurisdiction. Each party to this Agreement, by its execution
hereof, (a) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry,
proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (b) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its
subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that any such proceeding brought in one of the above-named courts is improper or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (c) hereby agrees neither to commence or maintain any
action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement, or relating to the subject matter hereof or thereof, other than before one of the above-named
courts, nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or 

  
 9 

 
otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts, whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing,
to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this agreement, the court in which such litigation is being heard shall be deemed to be included
in clause (a) above. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by New York law, and agrees that service of process by registered or certified mail, return receipt requested, at its
address specified pursuant to Section 6.2 hereof is reasonably calculated to give actual notice. 
 7.3.
WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN
ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, OR IN ANY WAY CONNECTED WITH
OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 7.3 CONSTITUTES A
MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 7.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO
THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 7.4. Exercise of Rights and Remedies. No delay of or omission
in the exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence
in any such breach or default, or of any similar breach or default occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that
waiver. 
 [The remainder of this page is intentionally left blank.] 

  
 10 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement (or caused this
Agreement to be executed on its behalf by its officer or representative thereunto duly authorized) under seal as of the date first above written. 
  

							
	THE COMPANY:                  	  		  	BLOOMIN’ BRANDS, INC.
				
		  		  	By:	 	 
		  		  		 	         Name:

		  		  		 	         Title:

 [Bloomin’ Brands – Stockholders’ Agreement] 

					
	THE BAIN FUNDS:               	 	BAIN CAPITAL (OSI) IX COINVESTMENT, L.P.
			
		 	By:	 	 Bain Capital Partners IX, L.P.,

      Its general partner

			
		 	By:	 	 Bain Capital Investors, LLC,

      Its general partner

			
		 	By:	 	 
		 	 Name:
	 	
		 	 Title:
	 	
		
		 	BAIN CAPITAL (OSI) IX, L.P.
			
		 	By:	 	 Bain Capital Partners IX, L.P.,
       Its general partner

			
		 	By:	 	 Bain Capital Investors, LLC,

      Its general partner

			
		 	By:	 	 
		 	 Name:
	 	
		 	 Title:
	 	
		
		 	BCIP TCV, LLC
			
		 	By:	 	 Bain Capital Investors, LLC,

      Its administrative member

			
		 	By:	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Bloomin’ Brands – Stockholders’ Agreement] 

					
		 	BAIN CAPITAL INTEGRAL INVESTORS 2006, LLC
			
		 	By:	 	 Bain Capital Investors, LLC,

      Its administrative member

			
		 	By:	 	 
		 	 Name:
	 	
		 	 Title:
	 	
		
		 	BCIP ASSOCIATES-G
			
		 	By:	 	 Bain Capital Investors, LLC,

      Its managing partner

			
		 	By:	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Bloomin’ Brands – Stockholders’ Agreement] 

					
	THE CATTERTON FUNDS: 	 	CATTERTON PARTNERS VI – KANGAROO, L.P.
			
		 	By:	 	 Catterton Managing Partner VI, LLC
 General Partner

			
		 	By:	 	 CP6 Management, LLC
 Managing
Member of General Partner

			
		 	By:	 	 
		 		 	 Name:

		 		 	 Title:

		
		 	CATTERTON PARTNERS VI – KANGAROO COINVEST, L.P.
			
		 	By:	 	 Catterton Managing Partner VI, LLC
 General Partner

			
		 	By:	 	 CP6 Management, LLC

Managing Member of General Partner

			
		 	By:	 	 
		 		 	 Name:

		 		 	 Title:

 [Bloomin’ Brands – Stockholders’ Agreement] 

  
 14 

					
	
THE FOUNDERS:               
	 		 	
		
		 	 
		 		 	Chris Sullivan
		
		 	 
		 		 	Robert Basham
		
		 	 
		 		 	J. Timothy Gannon

 [Bloomin’ Brands – Stockholders’ Agreement]Form of Contribution Agreement

 Exhibit 10.1 

 
  

 
 FORM OF 

CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT 
 HI-CRUSH PARTNERS LP 
 Dated as of
[            ], 2012 
  

 
  

 TABLE OF CONTENTS 

ARTICLE I 

DEFINITIONS 
  

							
	 Section 1.1
	 	 Definitions
	  	 	2	  
	
	 ARTICLE II

 
 THE FOLLOWING SHALL BE COMPLETED IMMEDIATELY
FOLLOWING THE
 EFFECTIVE TIME IN THE ORDER SET FORTH HEREIN.
	   
 

  

  

			
	 Section 2.1
	 	 Execution of Partnership Agreement
	  	 	4	  
	 Section 2.2
	 	 Contribution of Contributed Subsidiaries
	  	 	4	  
	 Section 2.3
	 	 Execution of Registration Rights Agreement
	  	 	4	  
	 Section 2.4
	 	 Execution of Omnibus Agreement
	  	 	4	  
	
	 ARTICLE III

 
 MISCELLANEOUS PROVISIONS
	   
 

  

			
	 Section 3.1
	 	 Effective Time
	  	 	4	  
	 Section 3.2
	 	 Further Assurances
	  	 	5	  
	 Section 3.3
	 	 Headings; References, Interpretation
	  	 	5	  
	 Section 3.4
	 	 Successors and Assigns
	  	 	5	  
	 Section 3.5
	 	 No Third Party Rights
	  	 	5	  
	 Section 3.6
	 	 Counterparts
	  	 	6	  
	 Section 3.7
	 	 Applicable Law; Forum, Venue and Jurisdiction
	  	 	6	  
	 Section 3.8
	 	 Severability
	  	 	6	  
	 Section 3.9
	 	 Amendment or Modification
	  	 	7	  
	 Section 3.10
	 	 Integration
	  	 	7	  
	 Section 3.11
	 	 Deed; Bill of Sale; Assignment
	  	 	7	  

  
 i 

 CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT 

This CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of
[            ], 2012 is made by and among Hi-Crush Proppants LLC, a Delaware limited liability company (“Proppants”), Hi-Crush Partners LP, a Delaware limited partnership
(the “Partnership”), and Hi-Crush GP LLC, a Delaware limited liability company and the general partner of the Partnership (the “General Partner”). The above-named entities are sometimes referred to in this Agreement
each as a “Party” and collectively as the “Parties.” Capitalized terms used herein shall have the meanings assigned to such terms in Article I. 

RECITALS 
 WHEREAS, Proppants has formed the General Partner under the Delaware Limited Liability Company Act (the “Delaware LLC Act”) to which it contributed $1,000 in exchange for a 100%
membership interest in the General Partner; 
 WHEREAS, the General Partner and Proppants have formed the Partnership
pursuant to the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”) for the purposes set forth in the Agreement of Limited Partnership of the Partnership dated May 9, 2012 (the “Initial Partnership
Agreement”); 
 WHEREAS, in connection with the Partnership’s formation, Proppants contributed $1,000 to
the Partnership in exchange for a 100% limited partner interest in the Partnership (the “Initial LP Interest”) and the General Partner was admitted as the general partner with a non-economic general partner interest in the
Partnership (the “GP Interest”); 
 WHEREAS, Proppants has formed Hi-Crush Admin LLC, a Delaware limited
liability company (“Admin”), and Hi-Crush Augusta LLC, a Delaware limited liability company (“Augusta”), each pursuant to the Delaware LLC Act, and the Sponsor has contributed $1,000 to each of Admin and Augusta in
exchange for a 100% membership interest in Admin and Augusta, respectively; 
 WHEREAS, Proppants has caused Hi-Crush
Operating LLC, a Delaware limited liability company and a wholly owned subsidiary of Proppants (“Operating”), to transfer all of its employees to Admin and caused Admin to accept the transfer of such employees; 

WHEREAS, Proppants has caused Operating to assign the Augusta Assets to Augusta and caused Augusta to accept and assume the
Augusta Assets; 
 WHEREAS, pursuant hereto, each of the following will occur at the times specified hereinafter:

  

	 	1.	Proppants will contribute to the Partnership all of the outstanding membership interest in each of Operating, Hi-Crush Chambers LLC, a Delaware limited liability
company (“Chambers”), Hi-Crush Railroad LLC, a Delaware limited liability company (“Railroad”), and Hi-Crush Wyeville LLC, a Delaware limited liability company (“Wyeville” and, together with
Operating, Chambers and Railroad, the “Contributed Subsidiaries”) in exchange for (i) the Sponsor Common Units, (ii) the Sponsor Subordinated Units and (iii) the Incentive Distribution Rights (together, the
“Sponsor Contribution Consideration”); and 

	 	2.	In connection with the Offering, the public, through the underwriters, will pay to Proppants an amount agreed upon by the Underwriters, Proppants and the Partnership
pursuant to the Underwriting Agreement, less the Underwriters’ Spread, in exchange for the Firm Units. 

WHEREAS, members or partners of the Parties have taken all partnership and limited liability company action, as the case may be,
required to be taken to approve the transactions contemplated by this Agreement. 
 NOW THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 Section 1.1 Definitions 
 The following defined terms will have the
meanings given below: 
 “Agreement” has the meaning set forth in the opening paragraph of this Agreement.

 “Augusta Assets” means the real and personal property, contracts, permits and other assets associated with
Proppants’ business and operations at its frac sand excavation and processing facility in Augusta, Wisconsin. 

“Augusta” has the meaning set forth in the Recitals of this Agreement. 

“Chambers” has the meaning set forth in the Recitals of this Agreement. 

“Contributed Subsidiaries” has the meaning set forth in the Recitals of this Agreement. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Delaware LLC Act” has the meaning set forth in the Recitals of this Agreement. 

“Delaware LP Act” has the meaning set forth in the Recitals of this Agreement. 

“Effective Time” means 8:00 a.m. prevailing Eastern Time on the date of the closing of the Offering. 

“Firm Units” shall have the meaning set forth in the Underwriting Agreement. 

“General Partner” has the meaning set forth in the opening paragraph of this Agreement. 

  
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 “GP Interest” has the meaning set forth in the Recitals of this Agreement.

 “Initial LP Interest” has the meaning set forth in the Recitals of this Agreement. 

“Initial Partnership Agreement” has the meaning set forth in the Recitals of this Agreement. 

“Offering” means the initial public offering of the Common Units. 

“Operating” has the meaning set forth in the Recitals of this Agreement. 

“Option Units” means the Common Units that Proppants will agree to sell to the Underwriters upon exercise of the
Underwriters’ Option. 
 “Party” or “Parties” has the meaning set forth in the opening
paragraph of this Agreement. 
 “Partnership” has the meaning set forth in the opening paragraph of this
Agreement. 
 “Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of
the Partnership, substantially in the form attached as Appendix A to the Registration Statement. 
 “Proppants”
has the meaning set forth in the opening paragraph of this Agreement. 
 “Railroad” has the meaning set forth
in the Recitals of this Agreement. 
 “Registration Statement” means the Registration Statement on Form S-1
filed with the Commission (Registration No. 333-182574), as amended. 
 “Sponsor Common Units” means
[            ] Common Units. 
 “Sponsor Contribution
Consideration” has the meaning set forth in the Recitals of this Agreement 
 “Sponsor Subordinated
Units” means [            ] Subordinated Units. 

“Underwriters” the underwriting syndicate listed in the Underwriting Agreement. 

“Underwriting Agreement” means the underwriting agreement to be entered into between the Partnership, Proppants and the
underwriters named in the Registration Statement, in substantially the form attached as Exhibit 1.1 to the Registration Statement. 
 “Underwriters’ Option” means a number of Common Units equal to 15% of the Firm Units, which Proppants will agree to sell to the Underwriters, at their option, to cover
over-allotments in connection with the Offering. 
 “Underwriters’ Spread” shall mean the total amount of
the Underwriters’ discount and structuring fee. 

  
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 “Wyeville” has the meaning set forth in the Recitals of this Agreement.

 Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Partnership
Agreement. 
 ARTICLE II 
 THE FOLLOWING SHALL BE COMPLETED IMMEDIATELY FOLLOWING THE 
 EFFECTIVE
TIME IN THE ORDER SET FORTH HEREIN. 
 Section 2.1 Execution of Partnership Agreement. Proppants and the General
Partner shall amend and restate the Initial Partnership Agreement by executing the Partnership Agreement in substantially the form included as Appendix A to the Registration Statement, with such changes as the General Partner and Proppants may
agree. 
 Section 2.2 Contribution of Contributed Subsidiaries. Proppants hereby grants, contributes, bargains, conveys,
assigns, transfers, sets over and delivers to the Partnership, its successors and assigns, for its and their own use forever, and the Partnership hereby accepts such grant, contribution, bargain, conveyance, assignment, transfer, set over and
delivery of, all of its interests in the Contributed Subsidiaries in exchange for the Sponsor Contribution Consideration. 

Section 2.3 Execution of Registration Rights Agreement. Proppants and the Partnership shall execute the registration rights
agreement, in substantially the form attached as Exhibit 4.1 to the Registration Statement, pursuant to which the Partnership shall agree to register with the Commission certain equity interests in the Partnership in accordance with the terms
provided therein. 
 Section 2.4 Execution of Omnibus Agreement. Proppants and the Partnership shall execute the omnibus
agreement, in substantially the form attached as Exhibit 10.2 to the Registration Statement, pursuant to which the Partnership and Proppants shall agree to certain matters with respect to indemnification, use of trademarks, rights of first offer and
the assumption of customer contracts as provided therein. 
 ARTICLE III 

MISCELLANEOUS PROVISIONS 
 Section 3.1 Effective Time. Notwithstanding anything contained in this Agreement to the contrary, the provisions of Article II and Section 3.2 shall not be binding or have any
effect until each of the Partnership and Proppants executes the Underwriting Agreement, at which time all such provisions shall be effective and operative without further action by any Party. 

  
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 Section 3.2 Further Assurances. From time to time, and without any further
consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and to do all such other acts and things, all
in accordance with applicable law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement
or which are intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or
intended to be so contributed and assigned and (c) more fully and effectively to carry out the purposes and intent of this Agreement. 
 Section 3.3 Headings; References, Interpretation. All Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or
construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole. All references herein to
Articles and Sections shall, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this Agreement. All personal pronouns used in this Agreement, whether used in the masculine, feminine or
neuter gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such
statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation,” “but not limited to” or
words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. 

Section 3.4 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their
respective successors and assigns. 
 Section 3.5 No Third Party Rights. The provisions of this Agreement are intended to
bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended to be a third party beneficiary of any of the
provisions of this Agreement. 

  
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 Section 3.6 Counterparts. This Agreement may be executed in any number of
counterparts with the same effect as if all signatory Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. The delivery of an executed counterpart copy of this Agreement
by facsimile or electronic transmission in PDF format shall be deemed to be the equivalent of delivery of the originally executed copy thereof. 
 Section 3.7 Applicable Law; Forum, Venue and Jurisdiction. 
 (a) This
Agreement shall be construed in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of law. 
 (b) Each of the Parties: 
 (i) irrevocably agrees that any claims,
suits, actions or proceedings arising out of or relating in any way to this Agreement shall be exclusively brought in the Court of Chancery of the State of Delaware; 

(ii) irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware in connection
with any such claim, suit, action or proceeding; 
 (iii) agrees not to, and waives any right to, assert in any
such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of the Court of Chancery of the State of Delaware or of any other court to which proceedings in the Court of Chancery of the State of Delaware may
be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum or (C) the venue of such claim, suit, action or proceeding is improper; 

(iv) expressly waives any requirement for the posting of a bond by a Party bringing such claim, suit, action or
proceeding; and 
 (v) consents to process being served in any such claim, suit, action or proceeding by mailing,
certified mail, return receipt requested, a copy thereof to such Party at the address in effect for notices hereunder, and agrees that such services shall constitute good and sufficient service of process and notice thereof; provided, that nothing
in clause (v) hereof shall affect or limit any right to serve process in any other manner permitted by law. 
 Section 3.8
Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such
contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it did not contain the particular provisions or provisions held to be invalid and an equitable adjustment shall be made and
necessary provision added so as to give effect to the intention of the Parties as expressed in this Agreement at the time of execution of this Agreement. 

  
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 Section 3.9 Amendment or Modification. This Agreement may be amended or modified from
time to time only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement. 

Section 3.10 Integration. This Agreement and the instruments referenced herein supersede all previous understandings or agreements
among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the Parties with respect to the subject matter hereof and
thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a written amendment hereto executed by the Parties after the
date of this Agreement. 
 All notices and other communications required or permitted hereunder shall be in writing and shall be
deemed effectively given (a) upon personal delivery, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (c) five days after having been
sent by registered or certified mail, return receipt requested, postage prepaid or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All
notices and other communications shall be addressed to the Parties at their respective addresses set forth in, or determined in accordance with the applicable provision of, the Partnership Agreement. 

Section 3.11 Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Agreement shall also
constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein. 

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 IN WITNESS WHEREOF, the parties to this Agreement have caused it to be duly executed
as of the date first above written. 
  

					
	HI-CRUSH PARTNERS LP
		
	By:	 	Hi-Crush GP, LLC,
		 	its general partner
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:
	
	HI-CRUSH PROPPANTS LLC
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	HI-CRUSH GP, LLC
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 SIGNATURE PAGE 

TO 

CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT

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