Document:

Agreement of Limited Partnership

 Exhibit 4.2 
 FIRST AMENDMENT TO THE 
 SECOND AMENDED AND RESTATED 

AGREEMENT OF LIMITED PARTNERSHIP OF 
 INDEPENDENCE REALTY OPERATING PARTNERSHIP, LP 
 THIS FIRST AMENDMENT (this
“Amendment”), dated as of October 20, 2011, to the Second Amended and Restated Agreement of Limited Partnership of Independence Realty Operating Partnership, LP (the “Operating Partnership Agreement”), dated as
of April 29, 2011, is entered into by Independence Realty Trust, Inc. a Maryland corporation, as general partner (the “General Partner”), and RAIT NTR Holdings, LLC, a Delaware limited liability company, as the Special Limited
Partner (the “Special Limited Partner”). 
 WHEREAS, the General Partner formed Independence Realty Operating
Partnership, LP (the “Operating Partnership”) as a limited partnership on March 27, 2009 pursuant to the Revised Uniform Limited Partnership Act of the State of Delaware and filed a certificate of limited partnership with the
Secretary of State of the State of Delaware, February 22, 2011; 
 WHEREAS, pursuant to Section 14.1 of the Operating
Partnership Agreement, the General Partner and the Special Limited Partner, the only Limited Partner (as defined in the Operating Partnership Agreement) whose rights are adversely affected by this Amendment, desire to amend the provisions of the
Operating Partnership Agreement, on the terms and subject to the conditions set forth herein. 
 NOW THEREFORE, pursuant to
Section 14.1 of the Operating Partnership Agreement, the General Partner and the Special Limited Partner hereby agree to all of the foregoing statements and as follows: 
 1. The Operating Partnership Agreement is hereby amended as follows: 
 (a) Section 8.7(c) is
deleted and replaced in its entirety with the following: 
 (c) Upon the occurrence of a Termination Event or the Listing, the
Special Limited Partnership Units shall be redeemed for an aggregate amount equal to the amount that would have been distributed to the Special Limited Partner under Section 5.1(b) if all assets of the Partnership had been sold for their fair
market value and all liabilities of the Partnership had been satisfied in full according to their terms. Such redemption shall occur no later than thirty (30) days after the date of a Termination Event and no later than 240 days after the
Listing. In determining the fair market value of the assets of the Partnership, (i) in connection with a Termination Event, the General Partner shall obtain an appraisal of the assets of the Partnership (excluding any assets which may be
readily marked to market) and (ii) in connection with the Listing, the General Partner shall make such determination (a) taking into account, in the event of a Listing on a national securities exchange only, the market value of the General
Partner’s listed shares based upon the average closing price, or average of bid and asked prices, as the case may be, during a period of thirty (30) days during which such shares are traded beginning one hundred and twenty (120) days
after the Listing or (b) taking into account the value of the General Partner’s shares based upon the initial public offering price in the event of an underwritten public offering. Payment to the Special Limited Partner upon a Termination
Event or a Listing shall be paid, at the Special Limited Partner’s discretion, in the form of (a) shares of the General Partner’s common stock or (b) a promissory note which shall not bear interest. In the event the Special
Limited Partner elects to receive shares of the General Partner’s common stock and the General Partner’s shares are not listed on a 

 
national securities exchange, at the option of the Special Limited Partner, the Special Limited Partner and the General Partner shall enter into an agreement whereby the General Partner shall
register such shares of common stock with the Commission. However, any payments under a promissory note may not be made in connection with a Termination Event until either (a) the closing of asset sales that result in aggregate, cumulative
distributions to the Partners (other than the Special Limited Partner) of the Partnership from operating income, sales proceeds and other sources in an amount equal to their Capital Contributions to the Partnership plus a 7.0% cumulative
non-compounded annual pre-tax return thereon, or (b) a Listing (each a “Subsequent Liquidity Event”). In addition, the principal amount of the promissory note issued in connection with a Termination Event will be subject to reduction
as of the date of the Subsequent Liquidity Event by an amount that will ensure that, in connection with the Subsequent Liquidity Event, the Special Limited Partner does not receive in excess of 10% of the distributions that are made or are deemed to
be made by the Partnership after the Partners (other than the Special Limited Partner) have received or are deemed to have received aggregate, cumulative distributions equal to their Capital Contributions to the Partnership plus a 7.0% cumulative
non-compounded annual pre-tax return thereon. 
 2. Except as set forth in this Amendment, the provisions of the Operating Partnership Agreement
shall remain unmodified and in full force and effect. 
 3. This Amendment may be executed in two counterparts, each of which shall be deemed an
original but together shall constitute one and the same instrument, with the same effect as if both parties had signed the same signature page. 
 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above. 
  

											
	GENERAL PARTNER:
	
	INDEPENDENCE REALTY TRUST, INC.
			
	By:	 		 	 /s/ JACK E. SALMON

		 		 	Jack E. Salmon
		 		 	President and Chief Financial Officer
	
	SPECIAL LIMITED PARTNER:
	
	RAIT NTR HOLDINGS, LLC
			
		 	By:	 	RAIT Partnership, LP, its sole member
				
		 		 	By:	 	RAIT General, Inc., its general partner
					
		 		 		 	By:	 	 /S/ RAPHAEL LICHT

		 		 		 		 	Raphael Licht
		 		 		 		 	Chief Operating Officer

  
 - 2 -EX-10.74

 EXHIBIT 10.74 
 NONQUALIFIED 
 DEFERRED COMPENSATION PLAN 

ADOPTION AGREEMENT 
 (Including Code §409A provisions) 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

 NONQUALIFIED 

DEFERRED COMPENSATION PLAN 
 ADOPTION AGREEMENT 
 The undersigned Frisch’s Restaurants, Inc.
(“Employer”) by execution of this Adoption Agreement hereby establishes this Nonqualified Deferred Compensation Plan (“Plan”) consisting of the Basic Plan Document, this Adoption Agreement and all other Exhibits and documents to
which they refer. The Employer makes the following elections concerning this Plan. All capitalized terms used in the Adoption Agreement have the same meaning given in the Basic Plan Document. References to “Section” followed by a number in
this Adoption Agreement are references to the Basic Plan Document. 
 PREAMBLE 

ERISA/Code Plan Type: The Employer establishes this Plan as (choose one of (a) or (b)): 

 

	x	(a) Nonqualified Deferred Compensation Plan. An unfunded nonqualified deferred compensation plan which is (choose only one of (i), (ii), (iii) or
(iv)): 

  

	 	 ̈	(i) Excess benefit plan. An “excess benefit plan” under ERISA§3(36) and exempt from Title I of ERISA. 

 

	 	x	(ii) Top-hat plan. A “SERP” or other plan primarily for a “select group of management or highly compensated employees” under ERISA and
partially exempt from Title I of ERISA. 

  

	 	 ̈	(iii) Contractors only. A plan benefiting only Contractors (non-Employees) and exempt from Title I of ERISA. 

 

	 	 ̈	(iv) Church plan. A church plan as described in Code §414(e) and ERISA §3(33) and maintained by a church or church controlled organization under
Code §3121(w)(3). 

  

	 ̈	(b) Ineligible 457 Plan. An ineligible 457 Plan subject to Code §457(f). The Employer is (choose only one of (i), (ii) or (iii)):

  

	 	 ̈	(i) Governmental Plan. A State. 

  

	 	 ̈	(ii) Tax-Exempt Plan. A Tax-Exempt Organization. The Plan is intended to be a “top-hat” plan or an excess benefit plan as described in (a)(ii) and
(a)(ii) above or the Plan benefits only Contractors. 

  

	 	 ̈	(iii) Church plan. A church plan as described in Code §414(e) and ERISA §3(33) but which is not maintained by a church or church controlled
organization under Code §3121(w)(3). 

 409A Plan Type: The Employer establishes this Plan (choose one of
(a) or (b)): 
  

	x	(a) Account Balance Plan. As the following type(s) of Account Balance Plan(s) under Section 1.02 (choose one of (i), (ii) or (iii)):

  

	 	 ̈	(i) Elective Deferral Account Balance Plan. See Section 2.02. 

 

	 	 ̈	(ii) Employer Contribution Account Balance Plan. See Sections 2.03 and 2.04. 

 

	 	x	(iii) Both. Both an Elective Deferral Account Balance Plan and an Employer Contribution Account Balance Plan. 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

 Uniformity or Nonuniformity: The nonuniformity provisions described in the Preamble to the Basic
Plan Document (choose one of (a) or (b)): 
  

	x	(a) Do not apply. All Adoption Agreement elections and Plan provisions apply to all Participants. 

 

	 ̈	(b) Apply. See Exhibit A to the Adoption Agreement. 

 ARTICLE I 
 DEFINITIONS 

1.11 Change in Control. Change in Control means (choose (a) or choose one of (b), (c) or (d)): 

 

	 ̈	(a) Not applicable. Change in Control does not apply for purposes of this Plan. 

 

	x	(b) All events. Change in Control means all events under Section 1.11. 

 

	 ̈	(c) Limited events. Change in Control means only the following events under Section 1.11 (choose one or two of (i), (ii) and (iii)):

  

	 	 ̈	(i) Change in ownership of the Employer. 

  

	 	 ̈	(ii) Change in the effective control of the Employer. 

  

	 	 ̈	(iii) Change in the ownership of a substantial portion of the Employer’s assets. 

 

	 ̈	(d) (Specify):
                                        
                                         
                                         
                                         
     . 

 Note: The Employer may not use the blank in (d) to specify events not described in
Treas. Reg. §1.409A-3(i)(5). However, the Employer may increase the percentages required to trigger a Change in Control under one or all three of the listed events. 
 1.15 Compensation. The Employer makes the following modifications to the “gross W-2” definition of Compensation (choose (a) or at least one of (b) – (e)):

  

	 ̈	(a) No modifications. 

  

	 ̈	(b) Net Compensation. Exclude all elective deferrals to other plans of the Employer described in Section 1.15. 

 

	 ̈	(c) Base Salary only. Exclude all Compensation other than Base Salary. 

 

	 ̈	(d) Bonus only. Exclude all Compensation other than Bonus. 

  

	x	(e) (Specify): Exclude moving expenses, severance pay and any stock-related compensation. 

1.20 Effective Date. The effective date of the Plan is (choose one of (a) or (b)): 

 

	 ̈	(a) New Plan. This Plan is a new Plan and is effective
                                         
                       . 

 Note: The effective date should be no earlier than January 1, 2008. 
  

	x	(b) Restated Plan. This Plan is a restated Plan and is restated effective as of July 1, 2009. The Plan was previously restated to comply with Code
§409A. The Plan was originally effective November 15, 1993. 

  

2    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

 1.38 Plan Name. The name of the Plan as adopted by the Employer is: Frisch’s
Executive Savings Plan. 
 1.39 Retirement Age. A Participant’s Retirement Age under the Plan is (choose only one
of (a)-(d)): 
  

	x	(a) Not applicable. Retirement Age does not apply for purposes of this Plan. 

 

	 ̈	(b) Age. The Participant’s attainment of age:             . 

 

	 ̈	(c) Age and service. The Participant’s attainment of age              with
             Years of Service (defined under 1.57) with the Employer. 

  

	 ̈	(d) (Specify):
                                         
                                         
                                         
                                         
            . 

 1.40 Separation from Service.
In determining whether a Participant has incurred a Separation from Service under the Plan (choose one or both or (a) and (b)): 
  

	x	(a) Determination of “Employer.” In determining the “Employer” under Section 1.40(E) and Code §§414(b) and (c), apply the
following percentage: 80%. 

 1.51 Unforeseeable Emergency. Unforeseeable Emergency means (choose
(a) or choose one of (b) or (c)): 
  

	 ̈	(a) Not applicable. Unforeseeable Emergency does not apply for purposes of this Plan. 

 

	x	(b) All events. All events constituting Unforeseeable Emergency. 

  

	 ̈	(c) Limited. Only the following events constituting Unforeseeable Emergency:
                                         
                                     

                      
                                         
                                         
                                         
                                         
                    . 

1.56 Wraparound Election. The Plan (choose one of (a) or (b)) : 

 

	 ̈	(a) Permits. Permits Participants who participate in a 401(k) plan of the Employer to make Wraparound Elections. 

 

	x	(b) Not permitted. Does not permit Wraparound Elections (or the Employer does not maintain a 401(k) plan covering any Participants).

 1.57 Year of Service. The following apply in determining credit for a Year of Service under the Plan
(choose (a) or choose one or more of (b) – (e)): 
  

	x	(a) Not applicable. Year of Service does not apply for purposes of this Plan. 

 

	 ̈	(b) Year of continuous service. To receive credit for one Year of Service, the Participant must remain in continuous employment with the Employer (or
render contract service to the Employer) for the Participant’s entire Taxable Year. 

  

	 ̈	(c) Service on any day. To receive credit for one Year of Service, the Participant only need be employed by the Employer (or render contract service to
the Employer) on any day of the Participant’s Taxable Year. 

  

	 ̈	(d) Pre-Plan service. The Employer will treat service before the Plan’s Effective Date for determining Years of Service as follows (choose one of
(i) or (ii)): 

  

	 	 ̈	(i) Include. 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

  ̈    (ii)
Disregard. 
  

	 ̈	(e)    (Specify):                   
                                         
                                         
                                         
                                       .

 ARTICLE II 
 PARTICIPATION 
 2.01 Participant Designation. The Employer
designates the following Employees or Contractors as Participants in the Plan (choose one of (a), (b) or (c)): 
  

	x	(a) All top-hat Employees. All Employees whom the Employer from time to time designates in writing as part of a select group of management or highly
compensated employees. 

  

	 ̈	(b) All Employees with maximum qualified plan additions or benefits. All Employees who have reached or will reach their limit under Code
§§415(b) or (c) in the Employer’s qualified plan for the Taxable Year or for the 415 limitation year ending in the Taxable Year. 

  

	 ̈	(c) Specified Employees/Contractors by name, job title or classification:
                                         
                                         
.
                                         
                                         
                       (e.g., Joe Smith, Executive Vice Presidents or those Employees/Contractors specified in Exhibit B).

 Note: An Employer might elect (c) and reference Exhibit B to maintain confidentiality within the workforce as to the
identity of some or all Participants. 
 2.02 Elective Deferrals. Elective Deferrals by Participants are (choose
one of (a), (b) or (c)): 
  

	x	(a) Permitted. Participants may make Elective Deferrals. 

  

	 ̈	(b) Not permitted. Participants may not make Elective Deferrals. 

 

	 ̈	(c) Frozen Elective Deferrals. The Plan does not permit Elective Deferrals as of:
                                         
                                

                     
                                         
                                         
                                         
                                         
                   . 

2.02(A) Amount limitation/conditions. A Participant’s Elective Deferrals for a Taxable Year are subject to the following
amount limitation(s) or other conditions (choose (a) or choose at least one of (b) – (d)): 
  

	 ̈	(a) No limitation. 

  

	x	(b) Maximum Elective Deferral amount: 25% of Compensation
                                         
                                         
                . 

  

	 ̈	(c) Minimum Elective Deferral amount:
                                        
                                         
                                         
              . 

  

	 ̈	(d) (Specify):
                                         
                                         
                                         
                                         
                  . 

2.02(B) Election timing. A Participant must provide the Elective Deferral election under Section 2.02 to the Employer
(choose one of (a) or (b)): 
  

	x	(a) By the deadline. No later than the applicable election deadline under Section 2.02(B). 

 

	 ̈	(b) Specified date. No later than
                                 days before the applicable election deadline
under Section 2.02(B). 

 2.02(B)(6) Final payroll period. The Plan treats final payroll period
Compensation under Section 2.02(B)(6) as (choose one of (a) or (b)): 

  

4    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

	x	(a) Current Year. As Compensation for the current Taxable Year in which the payroll period commenced. 

 

	 ̈	(b) Subsequent Year. As Compensation for the subsequent Taxable Year in which the Employer pays the Compensation. 

2.02(C) Election changes/Irrevocability. A Participant who makes an Elective Deferral election before the applicable deadline
under Section 2.02(B) (choose one of (a) or (b)): 
  

	x	(a) May change. May change the election until the applicable election deadline. 

 

	 ̈	(b) May not change. May not change the election as to the first Taxable Year to which the election applies. 

2.02(D) Election duration. A Participant’s Elective Deferral election (choose one of (a) or (b)): 

 

	x	(a) Taxable Year only. Applies only to the Participant’s Compensation for the Taxable Year for which the Participant makes the election.

  

	 ̈	(b) Continuing. Applies to the Participant’s Compensation for all Taxable Years, commencing with the Taxable Year for which the Participant makes the
election, unless the Participant makes a new election or revokes or modifies an existing election. 

 2.03
Nonelective Contributions. During each Taxable Year the Employer will contribute a Nonelective Contribution for each Participant equal to (choose (a) or (f) or choose one or more of (b) – (e)): 

 

	x	(a) None. The Employer will not make Nonelective Contributions to the Plan. 

 

	 ̈	(b) Fixed percentage.                  % of the Participant’s
Compensation. 

  

	 ̈	(c) Fixed dollar amount. $         per Participant. 

 

	 ̈	(d) Discretionary. Such Nonelective Contributions (or additional Nonelective Contributions) as the Employer may elect, including zero. 

 

	 ̈	(e)(Specify):
                                         
                                         
                                         
                                         
    . 

  

	 ̈	(f) Frozen Nonelective Contributions. The Employer will not make any Nonelective Contributions as of:
                                         
                                         
                                         
                                         
                    . 

 2.04 Matching Contributions. During each Taxable Year, the Employer will contribute a Matching Contribution equal to (choose (a) or (i) or choose one or more of (b) –
(h)): 
  

	 ̈	(a) None. The Employer will not make Matching Contributions to the Plan. 

 

	x	(b) Fixed match-flat. An amount equal to 10 % of each Participant’s Elective Deferrals into non-Company Stock investments and 15% for Elective
Deferrals invested in Company Stock for each Taxable Year for (1) Employees designated as Participants prior to July 1, 2009 and (2) for Employees not becoming Participants until after July 1, 2009 but eligible for the
Frisch’s Restaurants Pension Plan for Managers, Office and Commissary Employees. 

  

	x	(c) Fixed match-tiered. An amount equal to the following percentages for each specified level of a Participant’s Elective Deferrals for each Taxable
Year for all Employees hired on or after July 1, 2009 and for Employees hired prior to July 1, 2009 but not eligible to become Participants until after July 1, 2009 and not eligible for the Frisch’s Restaurants Pension Plan for
Managers, Office and Commissary Employees 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

					
	Elective Deferrals	  	Matching Percentage	 
	 0-3%
	  	 	100	% 
	 More than 3%
	  	 	0	% 

  

	 ̈	(d) No other caps. The Employer in applying the Matching Contribution formula under 2.04(b) or (c) above will not limit the Participant’s Elective
Deferrals taken into account (except as indicated above) and otherwise will not limit the amount of the match. 

  

	x	(e) Limit on Elective Deferrals matched. The Employer in making Matching Contributions in (b) above will disregard a Participant’s Elective
Deferrals exceeding 10% of a Participant’s Compensation for the Taxable Year. 

 2.05 Actual or Notional
Contribution. The Employer’s Contributions will be (choose one of (a) or (b) and choose (c) as applicable): 
  

	x	(a) Actual. Made in cash or property to Participant Accounts or to the Trust. 

 

	 ̈	(b) Notional. Credited to Participant Accounts only as a bookkeeping entry. 

 

	 ̈	(c)(Specify):
                                         
                                         
                                         
                                         
        . 

 2.06 Allocation Conditions. To receive an
allocation of Employer Contributions, a Participant must satisfy the following conditions during the Taxable Year (choose (a) or choose one or both of (b) and (c)): 

 

	x	(a) No allocation conditions. 

  

	 ̈	(b) Year of continuous service. The Participant must remain in continuous employment with the Employer (or render contract service to the Employer) for
the entire Taxable Year. 

  

	 ̈	(c)(Specify):
                                         
                                         
                                         
                                         
        . 

 ARTICLE III 

VESTING AND SUBSTANTIAL RISK OF FORFEITURE 
 3.01 Vesting Schedule/Other Substantial Risk of Forfeiture. The following vesting schedule or other Substantial Risk of Forfeiture applies to a Participant’s Accrued Benefit (choose
(a) or choose one or more of (b) – (f)): 
  

	 ̈	(a) Not applicable. The Plan does not apply a vesting schedule or other Substantial Risk of Forfeiture. 

 

	x	(b) Immediate vesting. 100% Vested at all times with respect to the entire Accrued Benefit. 

 

	 ̈	(c) Immediate vesting (Elective Deferrals)/vesting schedule (Employer Contributions). A Participant’s Elective Deferral Account is 100% Vested at all
times. A Participant’s Nonelective Contributions Account and Matching Contributions Account are subject to the following vesting schedule: 

  

					
	 Years of Service
	  	Vesting%	 
	                     or
less
	  	 	0	% 
		  	 	 	% 
		  	 	 	% 
		  	 	 	% 
	                     or
more
	  	 	100	% 

  

6    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

	 ̈	(d) Vesting schedule - entire Accrued Benefit. The Participant’s entire Accrued Benefit is subject to the following vesting schedule:

  

					
	 Years of Service
	  	Vesting %	 
	                     or
less
	  	 	        0	% 
		  	 	        	% 
		  	 	        	% 
		  	 	        	% 
		  	 	        	% 
		  	 	        	% 
	                     or
more
	  	 	100	% 

  

	 ̈	(e) Vesting schedule – class year or all years. The Plan’s vesting schedule applies as follows (Choose one of (i) or (ii)):

  

	 	 ̈	(i) Class year. Apply the vesting schedule separately to the Deferred Compensation for each Taxable Year. 

 

	 	 ̈	(ii) All years. Apply the vesting schedule to all Deferred Compensation based on all Years of Service. 

 

	 ̈	(f) Other Substantial Risk of Forfeiture. (Specify):
                                         
                                         
                                      

                     
                                         
                                         
                                         
                                         
                     . 
 Note:
An Employer may elect both a vesting schedule and an additional Substantial Risk of Forfeiture. In such event, a Participant failing to satisfy the conditions resulting in a Substantial Risk of Forfeiture will forfeit his/her Account, even if 100%
Vested under any vesting schedule. If the Plan is an Ineligible 457 Plan, the Employer must specify a Substantial Risk of Forfeiture, which may be a vesting schedule provided that under any “graded” vesting schedule, an Ineligible 457 Plan
Participant will be taxed as and when each portion of his/her Deferred Compensation vests. 
 3.02 Immediate Vesting upon
Specified Events. A Participant’s entire Accrued Benefit is 100% Vested without regard to Years of Service if the Participant’s Separation from Service with the Employer on or following or as a result of (choose (a) or choose
one or more of (b) – (e)): 
  

	x	(a) Not Applicable. 

  

	 ̈	(b) Retirement Age. On or following Retirement Age. 

  

	 ̈	(c) Death. As a result of death. 

  

	 ̈	(d) Disability. As a result of Disability. 

  

	 ̈	(e) (Specify):
                                         
                                         
                                         
                                         
                  . 

 Note: An
early vesting provision generally does not result in prohibited acceleration of benefits under Code §409A. See Section 4.03(C). 
 3.03 Application of Forfeitures. The Employer will (choose only one of (a) – (d)): 
  

	x	(a) Not Applicable. Not apply any provision regarding allocation of forfeitures since there are no Plan forfeitures. 

 

	 ̈	(b) Retain. Keep all forfeitures for the Employer’s account. 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

	 ̈	(c) Allocate. Allocate (in the year in which the forfeiture occurs) any forfeiture to the Accounts of the remaining (nonforfeiting) Participants, in
accordance with one of the following methods (choose only one): 

  

	 	 ̈	(i) Per Compensation. In the same ratio each Participant’s Compensation for the Taxable Year bears to the total Compensation of all Participants sharing in
the forfeiture allocation for the Taxable Year. 

  

	 	 ̈	(ii) Per Account balances. In the same ratio each Participant’s Account balance at the beginning of the Taxable Year bears to the total Account balances of
all Participants sharing in the forfeiture allocation for the Taxable Year. 

  

	 ̈	(d) (Specify):
                                        
                                         
                                         
                                         
          . 

 Note: If the Employer elects to create
the Trust under Section 5.03, the Employer should coordinate its forfeiture application elections with the provisions of the Trust. 
 ARTICLE IV 
 BENEFIT PAYMENTS 

4.01 Payment Events/Elections. The Plan payment events are (choose one or more of (a) through (i) as applicable):

 Note: The Employer must elect the Plan permitted payment events. The Employer may elect all of the 409A permitted events or limit the
payment events, but the Employer must elect at least one payment event. If the Plan permits initial payment elections, change payment elections, or both, as to any or all of the Plan permitted payment events, the Employer should elect 4.01(d)(iv),
(e)(ii) and (i) as applicable. The Employer also should elect under 4.02(A) and 4.02(B) as to who has election rights and to specify any limitations on such rights. If the Plan will not offer any initial or change payment elections, the
Employer should not elect 4.01(d)(iv), (e)(ii) or (i). If the Plan will not offer any initial payment elections the Employer also should elect 4.02(A)(a). If the Plan will not offer change payment elections, the Employer also should elect
4.02(B)(a). 
  

	x	(a) Separation from Service. 

  

	x	(b) Death. 

  

	 ̈	(c) Disability.  

  

	 ̈	(d) Specified Time. The Plan permits payment to a Participant at a Specified Time (choose one of (i)- (iv)): 

 

	 	 ̈	(i) Forfeiture Lapse. At the time that the Deferred Compensation no longer is subject to a Substantial Risk of Forfeiture. 

 

	 	 ̈	(ii) Stated Age. Upon attainment of age:
                     (specify age). 

  

	 	 ̈	(iii) (Specify): On:
                                         
            (e.g., January 1, 2015). 

  

	 	 ̈	(iv) Election. In accordance with a Participant or Employer election under 4.02(A) or (B). 

Note: The Employer must approve any Participant payment election. See Section 4.06. Payment at a Specified Time will be a lump-sum payment.

  

	 ̈	(e) Fixed Schedule. The Plan Permits payment to a Participant in accordance with the following Fixed Schedule (choose one of (i) or (ii)):

  

	 	 ̈	(i) Schedule:
                                         
                                         
                                         
                                     .

  

8    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

	 	 ̈	(ii) Election. In accordance with a Participant or Employer election under 4.02(A) or (B). 

Note: The Employer must approve any Participant payment election. See Section 4.06. Payment pursuant to a Fixed Schedule will be installments or
an annuity commencing at a specific time. 
  

	x	(f) Change in Control. The Plan permits payment to a Participant based on a Change in Control. 

 

	x	(g) Unforeseeable Emergency. The Plan permits payment to a Participant who has an Unforeseeable Emergency. 

 

	 ̈	(h) (Specify):
                                         
                                         
                                         
                                         
                 

	                         
                                         
          	(e.g., based on Unforeseeable Emergency, but only as the Elective Deferral Accounts). 

 Note: The Employer in (h) may modify any of (a)-(g) but only if such modifications are consistent with Code §409A. 

 

	 	 ̈	(i) Election. As to 4.01 (a), (b), (c), (f), (g) and/or (h), in accordance with a Participant or Employer election under 4.02(A) or (B).

 Note: The Employer must approve any Participant payment election. See Section 4.06. 

4.01(E) Contractor deemed Separation from Service. In making any payment to a Contractor based on Separation from Service, the
Plan (choose (a) or choose one of (b) or (c)): 
  

	x	(a) Not applicable. \ Only Employees are Participants in the Plan. 

 

	 ̈	(b) Applies deemed Separation from Service. Applies the deemed Separation from Service provisions of Section 4.01(E). 

 

	 ̈	(c) Does not apply. Does not apply the deemed Separation from Service provisions of Section 4.01(E). 

4.02 Timing, Form and Medium of Payment/Elections. The Plan will pay a Participant’s Vested Accrued Benefit as follows
(complete (a), (b) and (c)): 
  

	 	(a)	Timing. Payment will commence or be made (choose only one of (i) – (vi)): 

 

	 	 ̈	(i) 30 days. On a date which is 30 days following the payment event, unless otherwise made at a Specified Time or in accordance with a Fixed Schedule.

  

	 	 ̈	(ii) 90 days. On a date which is within 90 days following the payment event, unless otherwise made at a Specified Time or in accordance with a Fixed
Schedule. 

 Note: A Participant may not designate the Taxable Year of Payment under (a)(ii). 

 

	 	 ̈	(iii) 6 months. On a date that is 6 months following the payment event, unless otherwise made at a Specified Time or in accordance with a Fixed Schedule.

  

	 	 ̈	(iv) Specified Time/Fixed Schedule. At the Specified Time under Section 4.01(d) or pursuant to the Fixed Schedule under Section 4.01(e).

  

	 	x	(v) (Specify): 15th day of the calendar month following a payment event. 

 

	 	 ̈	(vi) Election. In accordance with a Participant or Employer election under Sections 4.02(A) or (B). 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

 Note: The Employer must approve any Participant payment election. See Section 4.06(C).

 Note: See Section 4.01(D) as to restrictions on timing of payments to Specified Employees. 

 

	 	(b)	Form. The Plan will make payment in the form of (choose one or more of (i) – (v)): 

 

	 	x	(i) Lump-sum. A single payment. 

  

	 	 ̈	(ii) Installments. In installments as follows:
                                         
                                         
                          . 

 

	 	 ̈	(iii) Annuity. An immediate annuity contract. 

  

	 	 ̈	(iv) (Specify):
                                        
                                         
                                         
                                         
     . 

  

	 	 ̈	(v) Election. In accordance with a Participant or Employer election under Sections 4.02(A) or (B). 

Note: The Employer must approve any Participant payment election. See Section 4.06. 

 

	 	(c)	Medium. The form of payment will be (choose only one of (i) – (iv)): 

 

	 	 ̈	(i) Cash only. 

  

	 	 ̈	(ii) Property only.  

  

	 	x	(iii) Property or cash (or both). 

  

	 	 ̈	(iv) Election. In accordance with a Participant or Employer election under 4.02(A) or (B). 

Note: The Employer must approve all Participant payment elections. See Section 4.06. 

Note: A choice between cash or property is not subject to Code §409A. See Treas. Reg. §1.409A-2(a)(1). 

The Plan treats this election as not being subject to the timing rules applicable to payment elections. 

4.02(A) Initial payment elections. The Plan (choose only one of (a) – (d)): 

 

	x	(a) No initial payment elections. The Plan and Adoption Agreement specify the payment events and the timing, form and medium of payment. If there are
multiple payment events, the Plan will make payment based on the earliest event to occur except as follows: No exceptions. 

  

	 ̈	(b) Participant initial payment election. Permits a Participant initially to elect the payment event and the timing, form and medium of payment of his/her
Deferred Compensation in accordance with Section 4.02(A) (choose only one of (i) or (ii)): 

  

	 	 ̈	(i) All Accounts. The Plan applies a Participant’s elections to all of the Participant’s Accounts under the Plan. 

 

	 	 ̈	(ii) Elective Deferral Account. The Plan applies a Participant’s elections only to the Participant’s Elective Deferral Account. The Employer will make
all payment elections as to Nonelective and Matching Contribution Accounts. 

 Note: A Participant must elect a payment event
from those which the Employer has elected under 4.01 above, unless the Employer has permitted a Participant to elect the 409A permissible payment events. A Participant in his/her election form may limit the payment election to Compensation Deferred
at the time of the election or also may apply the payment election to all future Deferred Compensation. 

  

10    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

	 ̈	(c) Employer initial payment election. Permits the Employer (and not the Participant) initially to elect the payment events and the timing, form and
medium of payment of all Participant Accounts in accordance with Section 4.02(A). 

  

	 ̈	(d) (Specify):
                                         
                                         
   (e.g., the Participant may make an election only as to the Participant’s Grandfathered Amounts). 

Note: If a Participant or the Employer does not make an initial payment election, see Sections 4.01(B) and 4.02(A)(5). 

4.02(B) Change payment elections. The Plan (choose only one of (a) or (b); choose (c) if (b) applies and choose
(d) if applicable): 
 Note: Even if the Employer under 4.02(A)(a) elects not to permit any Participant or Employer initial payment
elections, the Plan under Section 4.02(A)(1)treats a Plan designation of the payment events and of the timing, form and medium of payment as an initial election for purposes of applying any change election the Plan permits. 

 

	x	(a) Change payment elections not permitted. Does not permit a Participant, a Beneficiary or the Employer to make a change payment election in accordance
with Section 4.02(B). 

  

	 ̈	(b) Permits change payment elections. Permits changes payment elections or changes to a change payment elections in accordance with Section 4.02(B)
and as follows (choose one or more of (i) -(iv) ): 

  

	 	 ̈	(i) Participant election. Permits a Participant to make change payment elections. 

 

	 	 ̈	(ii) Employer election. Permits the Employer to make change payment elections. 

 

	 	 ̈	(iii) Beneficiary election. Permits a Beneficiary following the Participant’s death to make change payment elections. 

 

	 	 ̈	(iv) (Specify):
                                         
                                         
   (e.g., a Beneficiary may make a change payment election only if the Participant had the right to do so, OR a Participant may make a change payment election only after attaining age 60). 

 

	 ̈	(c) Limit on number of change payment elections. The number of change payment elections (as to any initial payment election) that a Participant, a
Beneficiary or the Employer (as applicable) may make is (choose one of (i) or (ii)): 

  

	 	 ̈	(i) Unlimited. Not limited except as required under Section 4.02(B). 

 

	 	 ̈	(ii) Limited. Limited to:              (specify number).

  

	 ̈	(d) (Specify):
                                         
                                         
           (e.g., permits change payment elections only as to Elective Deferral Account). 

 4.02(B)(3)(b) Installment payments. The Plan under Section 4.03(B)(3)(b) for purposes of application of the change payment election provisions treats an installment payment as a (choose one
of (a), (b) or (c)): 
  

	 ̈	(a) Single payment. 

  

	 ̈	(b) Series of payments. 

  

	 ̈	(c) Treatment for 2005 through 2007. For the period spanning 2005 through 2007, treat installments as (choose one of (i) or (ii)):

  

	 	 ̈	(i) Single payment. 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

	 	 ̈	(ii) Series of payments. 

 Note:
If the Plan is a restated Plan, and the Employer otherwise before January 1, 2008, did not make a written designation regarding the treatment of installment payments, the Employer in (c) may elect to apply a different election for the
period spanning 2005 through 2007, than applies after 2007 under (a) or (b). See Treas. Reg. 1.409A-2(b)(2)(iv). 
  

	x	(d) Not applicable. The Plan does not permit installment payments. 

 4.06(B) Election changes/Irrevocability. A Participant who makes an initial payment election which the Employer has accepted (complete (a) and (b)): 

(a) Initial payment elections. (choose one of (i), (ii) or (iii)): 

 

	 	 ̈	(i) May change. May change the initial payment election as to the Deferred Compensation to which the election applies, until the applicable election
deadline under 4.02(A)(2)(a). Any change to an initial payment election made after the initial payment election becomes irrevocable is a change payment election. 

 

	 	 ̈	(ii) May not change. May not change the initial election as to the Deferred Compensation to which the election applies. 

 

	 	x	(iii) Not applicable. As elected above, a Participant may not make an initial payment election. 

(b) Change payment elections. (choose one of (i), (ii) or (iii)): 

 

	 	 ̈	(i) May change. May change the change payment election as to the Deferred Compensation to which the election applies. Where the payment event is a
Specified Time or a Fixed Schedule, the Participant may change the election until the applicable deadline under Section 4.02(B)(1)(a). Where the change payment election relates to any other payment event (not a Specified Time or a Fixed
Schedule), the Participant must make the change within 30 days following the Participant’s making of the change payment election which the Participant seeks to change. Any change to a change payment election made after the change payment
election becomes irrevocable is a new change payment election. 

  

	 	 ̈	(ii) May not change. May not change the change payment election as to the Deferred Compensation to which the election applies. 

 

	 	x	(iii) Not applicable. As elected above, a Participant may not make a change payment election. 

Note: An Elective Deferral election under Section 2.02(C) is a separate election which is not controlled by this election 4.06(B).

 ARTICLE V 
 TRUST ELECTION AND INVESTMENTS 
 5.02 No Trust. The Employer by
electing (a) or (b) below does not create the Trust described in Section 5.03. Section 5.02 applies. The Employer will credit each Participant’s Account with (choose one or both of (a) or (b)): 

 

	 	x	(a) Actual Earnings (choose only one of (i) through (iv)): 

 

	 	 ̈	(i) Employer direction. As a result of the Employer’s directed investment of the Account. 

 

	 	x	(ii) Participant direction. As a result of the Participant’s directed investment of his/her own Account. 

  

12    07/07 

					
		  	Exhibit 10.74	  	Nonqualified Deferred Compensation Plan
		  		  	Adoption Agreement

  

	 	 ̈	(iii) Participant direction over Elective Deferrals. As a result of the Participant’s directed investment of his/her own Elective Deferral
Account, and the Employer’s directed investment of the balance of the Participant’s Account. 

  

	 	 ̈	(iv) (Specify):
                                         
                                         
                                  . 

 

	 	 ̈	(b) Notional Earnings. (choose one or both of (i) or (ii)): 

 

	 	 ̈	(i) Fixed/floating interest. Interest at the rate of
                                         
                        and applied to (choose only one of (A), (B) or (C)): 

Note: use blank to specify rate, fixed or floating with index, time interval, simple or compounded interest, etc. 

 

	 	 ̈	(A) Total Account. The Participant’s entire Account. 

  

	 	 ̈	(B) Deferrals only. The Participant’s Elective Deferral Account, with the balance of the Account being subject to actual investment as specified in
5.02(a). 

  

	 	 ̈	(C) Employer Contribution only. The Participant’s Employer Contribution Accounts with the balance of the Account being subject to actual investment
as specified in 5.02(a). 

					
	Nonqualified Deferred Compensation Plan	  	Exhibit 10.74	  	
	Adoption Agreement	  		  	

  

 EMPLOYER SIGNATURE 

The Employer hereby agrees to the provisions of this Plan, and in witness of its agreement, the Employer, by its duly authorized officer,
has executed this Adoption Agreement on June 25, 2009, 
  

			
		 	Name of Employer: Frisch’s restaurants, Inc.
		
		 	Employer’s EIN: 31-0523213
		
		 	Signed: /s/ Donald H. Walker
		
		 	Donald H. Walker, Vice President – Finance [Name/Title]

  

14    07/07

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00195-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00195-of-00352.parquet"}]]