Document:

exv10w9

Exhibit 10.9

MANAGEMENT AGREEMENT

          MANAGEMENT AGREEMENT (this “Agreement’) made as of this 29th day of June, 2006 by and among
Castle Harlan, Inc., a Delaware corporation (“CHI”), Bruckmann, Rosser, Sherrill & Co.,
Inc., a Delaware corporation (“BRS”) and Bravo Development, Inc., an Ohio corporation (the
“Company”).

W I T N E S S E T H:

     WHEREAS the Company desires to engage CHI to provide business and organizational strategy,
financial and investment management and merchant and investment banking services to the Company
upon the terms and conditions hereinafter set forth, and CHI is willing to undertake such
obligations.

     NOW THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth,
the parties agree as follows:

	1.	 	Appointment. The Company hereby engages CHI, and CHI hereby agrees, upon the terms
and subject to the conditions set forth herein, to provide certain services to the Company as
described in Section 3 hereof.
	 
	2.	 	Term.

	 	(a)	 	The term of this Agreement (the “Term”) shall be for an initial term expiring
ten (10) years after the date hereof (the “Initial Term”). Such term shall be
renewed automatically for additional one-year terms thereafter (each, an “Extension
Term”) unless CHI or the Company shall give notice in writing within ninety (90) days
before the expiration of the Initial Term or any such Extension Term of its desire to
terminate this Agreement.
	 
	 	(b)	 	The Term shall terminate automatically upon the consummation of any Significant
Transaction described in clause (B) or (C) of Section 3(a)(ii), provided
that the fee required to be paid pursuant to clause (B) of Section
4(a)(iii) is paid by the Company on the date on which such Significant Transaction is
consummated (a “Significant Transaction Closing Date”).
	 
	 	(c)	 	The provisions of Section 5 and such other provisions of this Agreement as the
context so requires shall survive the termination of this Agreement.

	3.	 	Services.

	 	(a)	 	Basic Services and Significant Transaction Services.

	 	(i)	 	CHI shall provide the Company with consulting advice and services with respect
to business and organizational strategy, financial and investment management and
merchant and investment banking as the Company may reasonably request from time to time
(collectively, the “Basic Services”).

 

 

	 	(ii)	 	In the event that the Company or its respective stockholders or any subsidiary
of the Company shall engage in any of the following (each, a “Significant
Transaction”):

	 	(A)	 	any acquisition of any business or company, or substantially all of the
assets of, or the material assets of, any business or company;
	 
	 	(B)	 	any sale of the Company (whether by merger, consolidation,
recapitalization, sale of substantially all of the assets of the Company or any
subsidiary of the Company or the sale of a majority of the outstanding capital
stock of the Company or any subsidiary of the Company, including without limitation
any sale by the existing stockholders of the Company of shares representing a
majority of the capital stock of the Company outstanding); or
	 
	 	(C)	 	any public offering by the Company or any subsidiary of the Company of
equity securities.

	 	 	 	CHI shall provide the Company with consulting advice and services with respect thereto
as the Company may reasonably request from time to time (“Significant Transaction
Services”).

	 	(iii)	 	Basic Services and Significant Transaction Services are herein together
referred to as “Services”.

	 	(b)	 	The Company will use the Services of CHI and CHI will make itself available for the
performance of the Services upon reasonable notice. CHI will perform the Services at the
times and places reasonably requested by the Company to meet its needs and requirements,
taking into account other engagements that CHI may have.
	 
	 	(c)	 	Notwithstanding anything in the foregoing to the contrary, the following services are
specifically excluded from the definition of “Services”: (i) accounting services rendered
to the Company or CHI by an independent accounting firm or accountant (i.e., an accountant
who is not an employee of CHI); (ii) legal services rendered to the Company or CHI by an
independent law firm or attorney (i.e., an attorney who is not an employee of CHI); and
(iii) actuarial services rendered to the Company or CHI by an independent actuarial firm or
actuary (i.e., an actuary who is not an employee of CHI).

	4.	 	Compensation and Reimbursement.

	 	(a)	 	As consideration payable to CHI or any of its affiliates for providing the Services to
the Company, the Company shall pay to CHI fees as follows:

	 	(i)	 	Closing Fee. The Company shall pay to CHI on the date hereof a fee in
cash in the amount of $1,522,500 (the “Closing Fee”).
	 
	 	(ii)	 	Annual Fees for Basic Services. The Company shall pay to CHI the
following fees in respect of Basic Services (such fees to be payable whether or not the
Company shall have requested Basic Services and regardless of the level or amount of
Basic Services requested by the Company):

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	 	(A)	 	for the period commencing on the date hereof and ending on December 31,
2006 (the “Interim Period”), an amount (the “Interim Period Fee”)
equal to $87,500; such amount to be payable as of the date hereof;
	 
	 	(B)	 	for each of the fiscal years ending on or about December 31, 2007 and
December 31, 2008 (the “Initial Annual Period”), respectively, an amount
(the “Initial Annual Fee”) equal to the greater of $175,000 or 0.75% of the
earnings before interest, taxes, depreciation and amortization, calculated after
adding back non-cash fixed asset writedowns, management fees, non-cash stock option
expenses and charges for impairment of goodwill (the “EBITDA”) of the
Company for each such fiscal year; such amount to be payable in advance in
semi-annual installments (each such installment to be equal to the greater of
$87,500 (representing one-half of $175,000) or 0.75% of the EBITDA of the Company
projected for the six-month period commencing on the Fee Payment Date) on the first
day of each January and July (a “Fee Payment Date”) of each fiscal year;
however, in the event of the termination of the Term pursuant to Section
2(b), any Initial Annual Fee for the fiscal year in which such Significant
Transaction shall occur shall be prorated through the Significant Transaction
Closing Date;
	 
	 	(C)	 	for each fiscal year ending after the expiration of the Initial Annual
Period, an amount (the “Subsequent Annual Fee,” and together with the
Initial Annual Fee, the “Annual Fees”) equal to $784,000; such amount to be
payable in advance in two equal semi-annual installments on each Fee Payment Date
of each such fiscal year; however, in the event of the termination of the Term
pursuant to Section 2(b), any Subsequent Annual Fee for the fiscal year in
which such Significant Transaction shall occur shall be prorated through the
Significant Transaction Closing Date;
	 
	 	(D)	 	the amount of each such payment or installment under subclause (A) or
subclause (B) shall be estimated (for purposes of payment on the date hereof or on
any Fee Payment Date, as the case may be) based on a current budget of the Company
approved by the Board of Directors of the Company; however, the actual amount owed
with respect to the Interim Period or any full fiscal year shall be finally
determined on or before the earlier of (1) the 60th day following the
end of the Interim Period or each such fiscal year or (2) the 15th day
following the preparation of the audited financial statements of the Company for
the Interim Period or such fiscal year (as the case may be); and if the actual
amount determined to be owed for the Interim Period or any such full fiscal year
differs from the amount of the Interim Period Fee or the Annual Fee theretofore
paid (or accrued) with respect to the Interim Period or such fiscal year, (x) any
additional amount owed to CHI shall be promptly paid to CHI (or, if the current
payment of the Interim Period Fee or the applicable Annual Fee is then prohibited
as hereinafter provided, shall be accrued as of the date hereof in the case of the
Interim Period Fee or, in the case of an Annual Fee, as of February 1 of the fiscal
year with respect to which the final determination has been made), and (y) any
amount theretofore paid by the Company in excess of the finally determined Interim
Period Fee or Annual Fee for such fiscal year is to be credited against the

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	 	 	 	amount of the Annual Fee payable on the next Fee Payment Date (or, if the current
payment of the Interim Period Fee or the Annual Fee was prohibited as hereinafter
provided, an adjustment in the accrual therefor shall be appropriately made); and

	 	(E)	 	Each semi-annual installment of the Subsequent Annual Fee
(collectively, the “Payments”) shall be payable in cash on each Fee Payment
Date unless such Payment is deferred at the option of the Company by providing CHI
with written notice of such deferred Payment at least 20 days prior to the
applicable Fee Payment Date; provided, however, that the Company may only defer
payment of such portion of the Subsequent Annual Fee which exceeds the amount of
such fee that would have been payable in such time period if the formula and
methodology set forth in clause (B) of this Section 4(a)(ii) and
utilized to calculate fees during the Initial Annual Period had been used to
calculate such fee. Any Payments not taken in cash by CHI will accrue with
interest calculated at the rate of 15% per annum (computed on the basis of a
365/366-day year and the actual number of days elapsed in any year) and compounded
as of each subsequent Fee Payment Date if not paid, and shall be payable
immediately upon demand by CHI.

	 	 	 	Notwithstanding the foregoing, the Company shall not be required to make any payment of
any applicable Annual Fee if and for so long as the Company is prohibited from paying
any portion of such Annual Fee due to restrictive covenants contained in any credit
facilities, loan agreements or similar documents governing any indebtedness for borrowed
money of the Company or its subsidiaries (the “Credit Agreements”) or under any
subordination agreement entered into by CHI with the lenders or their agents under the
Credit Agreements (all of the foregoing being herein referred to as “Credit
Agreement Restrictions”); provided that the unpaid Interim Period Fee or the Annual
Fee shall continue to accrue with interest calculated at the rate of 15% per annum
(computed on the basis of a 365/366-day year and the actual number of days elapsed in
any year) (the “Applicable Rate”), and compounded as of the date hereof in the
case of the Interim Period Fee or as of each Fee Payment Date in the case of any Annual
Fee if not paid, and shall become payable immediately upon the earlier of: (A) the
Company being no longer prohibited under the Credit Agreements from making the payment
currently of the Interim Period Fee or the Annual Fee and interest thereon (including
without limitation any portion thereof which has accrued and remains unpaid); (B) the
occurrence of any payment acceleration, prior to scheduled maturity date, of the
obligations of the Company under the Credit Agreements; (C) the payment in full in cash
of all outstanding obligations of the Company under the Credit Agreements and the
termination of all commitments, letters of credit and other obligations under documents
executed in connection therewith; (D) the occurrence of any “Insolvency Event” or
comparable occurrence (as may be defined in the Credit Agreements) with respect to the
Company; (E) the end of the Term; or (F) any Significant Transaction. Notwithstanding
the Annual Fee becoming due an payable pursuant to the preceding sentence, no payment
shall be made if the conditions set forth in clauses (B), (D) or (E) of the preceding
sentence exist and the conditions set forth in the clause (C) of the preceding sentence
have not been fulfilled. Also, interest shall accrue (and shall

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	 	 	 	compound as aforesaid) and be payable by the Company on the Interim Period Fee or the
Annual Fee, until paid, if and to the extent that the Interim Period Fee or the Annual
Fee is not paid for any other reason after the date hereof.
	 
	 	(iii)	 	Fees for Significant Transactions. In the event that the Company shall
engage in any Significant Transaction, the Company shall pay to CHI a fee, in respect
of any Significant Transaction Services (such fees to be payable whether or not the
Company shall have requested Significant Transaction Services and regardless of the
level or amount of Significant Transaction Services requested by the Company), equal to
the following:

	 	(A)	 	in the case of any Significant Transaction described in clause
(A) of Section 3(a)(ii) hereof where the aggregate enterprise value of the
subject of such Significant Transaction exceeds $10 million or the total
consideration (including the fair market value of any non-cash consideration)
received by the seller(s) in any such Significant Transaction exceeds $10 million,
0.75% of the greater of the assumed aggregate enterprise value of the subject of
such Significant Transaction or the total consideration (including the fair market
value of any non-cash consideration) received by the seller(s) in any such
Significant Transaction; or
	 
	 	(B)	 	in the case of any Significant Transaction described in clause
(B) or (C) of Section 3(a)(ii) hereof, the product of (x) 0.75% of the
EBITDA of the Company for the 12-month period ending with the fiscal month
immediately preceding the Significant Transaction Closing Date, adjusting such
EBITDA to account, on a proforma basis, for EBITDA of any acquisition made by the
Company during such 12-month period as if such acquisition had occurred at the
beginning of such 12-month period, and (y) the lesser of (1) 1.5 and (2) the number
of years or fraction thereof remaining in the then applicable Initial Term or the
Extension Term from and after the Significant Transaction Closing Date.

	 	 	 	Any fee payable pursuant to this Section 4(a)(iii) shall be payable on the date
on which such Significant Transaction is consummated.

	 	(b)	 	In addition to the Payments required under Section 4(a) hereof, the Company
shall, at the direction of CHI, pay directly or reimburse CHI for Out-of-Pocket Expenses
(as hereinafter defined). For purposes of this Agreement, the term “Out-of-Pocket
Expenses” shall mean the reasonable out-of-pocket expenses incurred by CHI and/or its
personnel in connection with the Services, including without limitation the following: (i)
fees and disbursements of any independent professionals and organizations, including,
without limitation, independent auditors and outside legal counsel, investment bankers or
other financial advisors or consultants; (ii) costs of any outside services of independent
contractors such as financial printers, couriers, business publications or similar
services; and (iii) transportation, per diem, telephone calls, entertainment and all other
reasonable expenses actually incurred by CHI in rendering the Services. All direct payments
and reimbursements for Out-of-Pocket Expenses shall be made promptly upon or as soon as
practicable after presentation by CHI to the Company of a statement in connection
therewith.

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	 	(c)	 	The parties hereto acknowledge that the Company is entering into that certain
Management Agreement with BRS simultaneously herewith (the “BRS Agreement”) and that
pursuant to the terms of such agreement, the Company shall be obligated to make payments to
BRS of the fees and expenses set forth therein. The parties hereto agree that payments to
be made to CHI under this Agreement and payments to be made to BRS under the BRS Agreement
shall be made pro rata and neither CHI nor BRS shall receive a preference or priority with
respect to such payment unless CHI and BRS otherwise agree in writing.

	5.	 	Indemnification; Liability.

	 	(a)	 	The Company will indemnify and hold harmless CHI and its officers, directors,
principals, partners, members, employees, agents, representatives and affiliates (each
being an “Indemnified Party”) from and against any and all losses, claims, actions,
damages and liabilities, joint or several, to which such Indemnified Party may become
subject under any applicable federal or state law, made by any third party or otherwise,
relating to or arising out of the Services or other matters referred to in or contemplated
by this Agreement or the engagement of such Indemnified Party pursuant to, and the
performance by such Indemnified Party, of the Services or other matters referred to or
contemplated by this Agreement, and the Company will reimburse any Indemnified Party for
all costs and expenses (including, without limitation, reasonable attorneys’ fees and
expenses) as they are incurred in connection with the investigation of, preparation for or
defense of any pending or threatened claim, or any action or proceeding arising therefrom,
whether or not such Indemnified Party is a party thereto. The Company will not be liable
under the foregoing indemnification provision to the extent that any loss, claim, damage,
liability, cost or expense is determined by a court, in a final judgment from which no
further appeal may be taken, to have resulted solely from the willful misconduct of such
Indemnified Party. The reimbursement and indemnity obligations of the Company under this
Section 5 shall be in addition to any liability which the Company may otherwise
have, shall extend upon the same terms and conditions to any affiliate of CHI and the
stockholders, officers, directors, principals, partners, members, employees, agents,
representatives, affiliates and controlling persons (if any), as the case may be, of CHI
and any such affiliate and shall be binding upon and inure to the benefit of any
successors, assigns, heirs and personal representatives of the Company, CHI, any such
affiliate and any such person. The provisions of this Section 5 shall survive the
termination of this Agreement.

	 	(b)	 	Neither CHI nor any of its affiliates, partners, employees or agents shall be liable to
the Company or its subsidiaries or affiliates for any loss, liability, damage or expense
arising out of or in connection with the performance of the Services contemplated by this
Agreement unless CHI or such person engaged in willful misconduct or gross negligence. CHI
shall not engage in the active management of the Company and shall render only advisory
services to the Company; and the management of the Company or its business, operations,
affairs and assets shall be conducted solely and exclusively by the Board of Directors and
the officers of the Company, and CHI shall have no liability for the management of the
Company or its business, operations, affairs and assets.

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	6.	 	Independent Contractors. Nothing herein shall be construed to create a joint venture
or partnership between the parties hereto or an employee/employer relationship. CHI shall be
an independent contractor pursuant to this Agreement. Neither party hereto shall have any
express or implied right or authority to assume or create any obligations on behalf of or in
the name of the other party or to bind the other party to any contract, agreement or
undertaking with any third party. Nothing in this Agreement shall be deemed or construed to
enlarge the fiduciary duties and responsibilities, if any, of CHI or any of its affiliates,
officers, directors, partners, employees or agents, including without limitation in any of
their respective capacities as stockholder or directors of the Company.

	7.	 	Notices. Any notice or other communications required or permitted to be given
hereunder shall be in writing and delivered by hand or mailed by registered or certified mail,
return receipt requested, or by telecopier to the party to whom it is to be given at its
address set forth herein, or to such other address as the party shall have specified by notice
similarly given and the mailing date shall be deemed the date from which all time periods
pertaining to a date of notice shall run.

	 	 	 	 	 

	 

	 	To the Company:	 	 
	 
	 	 	 	 
	 

	 	Bravo Development, Inc.	 	 
	 

	 	777 Goodale Blvd.	 	 
	 

	 	Suite 100	 	 
	 

	 	Columbus, OH 43212	 	 
	 

	 	Attention: President	 	 
	 

	 	Facsimile No.: (614) 326-7943	 	 
	 
	 	 	 	 
	 

	 	To CHI:
	 	With a copy to (which shall not constitute
notice to CHI):
	 
	 	 	 	 
	 

	 	Castle Harlan, Inc.
	 	Schulte Roth & Zabel LLP
	 

	 	150 East 58th Street
	 	919 Third Avenue
	 

	 	New York, New York 10155
	 	New York, NY 10022
	 

	 	Attention: David B. Pittaway
	 	Attention: Robert Goldstein, Esq.
	 

	 	Facsimile No.: (212) 207-8042
	 	Facsimile No.: (212) 593-5955

	8.	 	Assignment. This Agreement shall inure to the benefit of and be binding upon the
parties and their successors and assigns. However, neither this Agreement nor any of the
rights of the parties hereunder may be transferred or assigned by any party hereto, except
that (i) if the Company shall merge or consolidate with or into, or sell or otherwise transfer
substantially all its assets to, another corporation which assumes the Company’s obligations
under this Agreement, the Company may assign its rights hereunder to that corporation and (ii)
CHI may assign its rights and obligations hereunder to any other person or entity controlled,
directly or indirectly, by John K. Castle and/or Leonard M. Harlan, provided that any such
assignee shall have agreed in writing to be bound by the provisions of the Credit Agreement

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	 	 	Restrictions. Any attempted transfer or assignment in violation of this Section 8 shall
be void.

	9.	 	Permissible Activities; Confidentiality.

(a) Except as provided in Section 9(b), nothing herein shall in any way preclude CHI or its
affiliates or its respective officers, directors and partners from engaging in any business
activities or from performing services for its or their own account or for the account of others,
including, without limitation, companies which may be in competition with the business conducted by
the Company.

(b) CHI shall not, and shall direct its directors, officers, partners, employees or agents not to,
(i) use or exploit in any manner the Confidential Information of the Company for themselves or any
person other than the Company or its subsidiaries, (ii) remove any Confidential Information, or any
reproduction thereof, from the possession or control of the Company, or (iii) treat Confidential
Information otherwise than in a confidential manner. For purposes of this Agreement,
“Confidential Information” means confidential information relating to the Company, other
than any information that is in the public domain through no act or omission of CHI or any of its
directors, officers, partners, employees or agents in violation of this Agreement or which CHI or
any of its directors, officers, partners, employees or agents is authorized by the Company to
disclose, consisting specifically of writings, reports, lists, software or computer programs
containing or reflecting any of the following: (1) recipes for the Company’s menu items, (2)
financial reports, (3) operation and training manuals, (4) business plans (including without
limitation plans for real estate acquisitions and expansions) and (5) agreements and arrangements
with suppliers. The obligation of CHI under this Section 9 with respect to any particular
item of Confidential Information shall expire on the later of the four year anniversary of the date
hereof or the two year anniversary of the receipt of such Confidential Information.

	10.	 	General. No amendment or waiver of any provision of this Agreement, or consent to any
departure by any party from any such provision, shall in any event be effective unless the
same shall be in writing and signed by each of the parties to this Agreement and then such
amendment, waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given. The waiver of any party of any breach of this Agreement
shall not operate or be construed to be a waiver of any subsequent breach.
	 
	11.	 	Entire Agreement. This Agreement contains the entire agreement between the parties
hereto and supersedes all prior agreements and understandings, oral and written, between the
parties hereto with respect to the subject matter hereof.
	 
	12.	 	Section Headings; Counterparts. The section headings contained herein are included
for convenience of reference only and shall not constitute a part of this Agreement for any
other purpose. This Agreement may be executed in two counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.
	 
	13.	 	Governing Law; Consent to Jurisdiction. This Agreement and the rights and obligations
of the parties hereunder shall be governed by, and construed and interpreted in accordance
with, the internal laws of the State of New York, without giving effect to the conflict of
laws

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	 	 	principles thereof. Each of the parties hereto hereby irrevocably submits to the exclusive
jurisdiction of any Federal or state court sitting in the City of New York over any suit, action
or proceeding arising out of or relating to this Agreement. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted or not prohibited by law, any objection
which it may now or hereafter have to the laying of the venue of any such suit, action or
proceeding brought in such a court and any claim that any such suit, action or proceeding
brought in such a court has been brought in an inconvenient forum. Each of the parties hereto
hereby irrevocably consents to the service of process in any suit, action or proceeding by
sending the same by certified mail, return receipt requested or by overnight courier service, to
the address of such party set forth in Section 7. EACH PARTY HERETO WAIVES ANY RIGHT IT
MAY HAVE TO TRIAL BY JURY IN ANY ACTION BROUGHT HEREUNDER OR ARISING OUT OF THE TRANSACTIONS
CONTEMPLATED HEREBY.
	 
	14.	 	Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Agreement is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction, but this
Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.
	 
	15.	 	No Joint Obligations of CHI and BRS. The obligations of CHI hereunder relate only to
itself and not to BRS and any obligations of CHI and BRS under their respective management
agreements with the Company are several and not joint.

[Signature Page Follows]

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     In witness whereof, the parties hereto have signed this Agreement as of the day and year first
above written.

	 	 	 	 	 

	BRAVO DEVELOPMENT, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Alton F. Doody, III
 

	 	 
	 

	 	Name: Alton F. Doody, III	 	 
	 

	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 
	CASTLE HARLAN, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ David B. Pittaway
 

	 	 
	 

	 	Name: David B. Pittaway	 	 
	 

	 	Title: Senior Managing Director	 	 
	 
	 	 	 	 
	For purposes of Sections 4(c), 10, 11, 12, 13 and
14:	 	 
	 
	 	 	 	 
	BRUCKMANN, ROSSER, SHERRILL & CO., INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Harold O. Rosser
 

Name: Harold O. Rosser
	 	 
	 

	 	Title: Managing Director	 	 

CHI Management Agreementexv10w10

Exhibit 10.10

BRAVO DEVELOPMENT, INC. — SAED MOHSENI

Employment Term Sheet

Saed Mohseni (“Mohseni”) agrees to serve Bravo Development, Inc. (the “Company”) as its Chief
Executive Officer on the following terms and conditions:

	 	 	 

	Title:

	 	Chief Executive Officer
	 
	 	 
	Base Salary:

	 	$518,000 per annum payable in accordance with the Company’s normal
payroll practices (the “Base Salary”).
	 
	 	 
	Bonus:

	 	Annual bonus opportunity contingent on achievement of corporate and/or
individual performance goals established by Company’s Board of
Directors in its discretion. Bonus targeted at 30% of Base Salary.
The Company will guarantee a bonus of $120,000 for 2007. Except for
2007, minimum and maximum bonus targets to be set by Company’s Board
of Directors annually.
	 
	 	 
	Equity:

	 	Company will grant Mohseni options to acquire 65,625 shares of the
Company’s common stock. Those options will vest at the rate of 25% on
each anniversary of the date of grant. All options will become
immediately fully vested upon the occurrence of an Approved Sale (as
defined in the Incentive Plan. They will become exercisable based on
the IRR (Internal Rate of Return) and return multiple of the
investment in BDI by investment funds managed by Bruckman, Rosser,
Sherrill, and Castle Harlan Inc. (the “Investors”) as set out in the
Company’s standard form of Option Agreement.
	 
	 	 
	 

	 	Options and any common stock acquired on exercise of options will be
subject to the terms of the Bravo Development, Inc. Incentive Plan
(the “Incentive Plan”) and the New Investors Securities Holders
Agreement by and among Bravo Development, Inc., Bravo Development
Holdings LLC and the other investors named therein dated as of June
29, 2006. Mohseni will sign a joinder to that agreement if requested
to do so by the Company.
	 
	 	 
	 

	 	If, upon an Approved Sale or other exit transaction, defined as a
transaction in which the Investors sell or otherwise liquidate more
than 50% of their Company securities (an “Exit Event”) while Mohseni
is employed by the Company, the sum of (1) the total amount receivable
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	 	Mohseni with respect to any unexercised options and (2) the excess
of any amount receivable with respect to all shares of common stock
acquired on exercise of any options over the price paid by Mohseni to
exercise those options, is less than $3 million, the Company will pay
Mohseni, at or within 10 business days following the Approved Sale or
Exit Event, the lesser of (A) the excess of $3 million over the sum of
the amounts described in (1) and (2) or (B) the amount, if any, by
which the Net Proceeds (as defined in the Incentive Plan) realized by
the Investors upon that Approved Sale or Exit Event exceeds the amount
necessary to provide a 5% IRR (as defined in the Incentive Plan) to
the Investors on their investment in the Company (for the avoidance of
doubt it is understood that the Investors will participate in those
Net Proceeds in proportion to their equity investments).
	 
	 	 
	Insurance:

	 	Standard Executive Package to include full family medical, dental and
vision coverage; individual coverage to include short and long term
disability and life insurance of one (1) times salary. Mohseni to pay
premiums, currently $220.00 per month, as per Company policy
applicable generally to senior executives.
	 
	 	 
	401K:

	 	Mohseni will be entitled to participate on terms and conditions
applicable to other senior executives of the Company.
	 
	 	 
	Vacation:

	 	Four (4) weeks vacation per year.
	 
	 	 
	Other Benefits:

	 	Mohseni will be entitled to participate in all other benefit programs
offered generally to other employees of the Company.
	 
	 	 
	Expenses:

	 	The Company will promptly reimburse Mohseni for all reasonable out of
pocket expenses incurred by him in the course of performing his duties
for the Company with respect to travel, entertainment and other
business expenses, provided such expenses are properly document and
incurred in accordance with Company policy.
	 
	 	 
	Severance:

	 	Mohseni’s employment with the Company will continue under the terms
hereof until such employment is terminated by either party. If
Mohseni’s employment with the Company is terminated by the Company
without Cause or by Mohseni for Good Reason, Mohseni will be entitled
to severance of two (2) years Base Salary, payable at normal payroll
intervals. Severance pay shall not be subject to offset or
mitigation.
	 
	 	 
	 

	 	“Cause” means: (1) fraud or material dishonesty in connection with

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	 	Mohseni’s performance of his duties for the Company, (2) the failure
by Mohseni (other than by reason of disability), as determined in the
good faith reasonable judgment of the Company’s Board of Directors
(the “Board”), to substantially perform the lawful duties of his
position, including as directed by the Board, which failure is not
cured, if reasonably susceptible of cure, within 10 business days
after delivery of written notice thereof to Mohseni, or (3) Mohseni’s
conviction of a felony, or plea of guilty or nolo contendere to, a
charge of commission of a felony or (iv) commission of any act, or
violation of any law, that in the good faith judgment of the Board
could reasonably be expected to bring material disrepute to the
Company or adversely affect Mohseni’s ability to perform his duties
for the Company.
	 
	 	 
	 

	 	“Good Reason” means (1) the Company reduces the amount of the Base
Salary, (2) the Company fails, in any material respect, to pay timely
the Base Salary or other benefits required to be provided by the
Company hereunder, (3) the Company materially reduces the overall
benefits required to be provided to Mohseni hereunder, other than, in
the case of clauses (1) or (3), in connection with, and proportionate
to, an overall reduction in compensation or benefits provided to the
Company’s senior executives, or (4) any change of Mohseni’s principal
office location to a location more than 50 miles from Columbus, Ohio;
provided, that in order for Mohseni’s termination for Good Reason to
be effective hereunder, (A) notice of Mohseni’s intent to terminate
for Good Reason must be given to the Company within 30 days of the
event giving rise to Good Reason and (B) the Company must not have
cured such event, if reasonably susceptible of cure, within 10
business days after receiving written notice thereof from Mohseni.
	 
	 	 
	Start Date:

	 	No later than January 15, 2007
	 
	 	 
	Relocation:

	 	Company will reimburse reasonable expenses of temporary housing (up to
5 months), 2 house hunting trips, packing and unpacking, moving, and
real estate commissions and closing costs.
	 
	 	 
	Restrictive Covenants:

	 	Mohseni agrees:
	 
	 	 
	 

	 	1. He will not compete with the Company during his employment and for
a period of two years thereafter. For this purpose competition shall
be defined as engaging in the casual Italian restaurant business;
	 
	 	 
	 

	 	2. He will keep all Company confidential information confidential and
will neither disclose nor use that information except on the
Company’s business;

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	 	3. He will not solicit the Company’s senior executives, senior
managers or key employees (including Regional Managers, Store Managers
or Executive Chefs) to leave the Company for two years following his
termination of employment; and
	 
	 	 
	 

	 	4. He will not attempt, for two years following his termination, to
interfere with the Company’s relationships with its suppliers,
lessors, licensors or licensees.
	 
	 	 
	Dispute Resolution:

	 	By arbitration under the rules of the American Arbitration Association
(“AAA”); to be held in Columbus, Ohio. The arbitrator will have the
authority to award reasonable attorney fees and other costs to the
prevailing party. Except as otherwise provided by the arbitrator,
each party to any arbitration shall pay shall pay any legal and other
expenses incurred in connection with the arbitration, except that the
parties with share equally in any filing fees associated with such
arbitration.
	 
	 	 
	Withholding of Taxes:

	 	All payments are subject to legally required tax and other withholdings
	 
	 	 
	Governing Law:

	 	Ohio.
	 
	 	 
	Assignment:

	 	Requires written consent for either party to assign; except (1)
Company may assign to successor to Company’s business and (2) any
payments due Mohseni following his death are payable to his heirs,
assigns or designees.
	 
	 	 
	Miscellaneous:

	 	If any portion of this agreement is held by an arbitrator or a court
of competent jurisdiction to conflict with any federal, state or local
law, or to be otherwise invalid or unenforceable, such portion of this
agreement will be enforced to the maximum extent allowed under such
provision or law, or if it cannot be so enforced will be of no force
or effect and this agreement will otherwise remain in full force and
effect and be construed as if such portion had not been included in
this agreement. This agreement and the documents referred to herein
contain the entire agreement and understanding of the parties and
supersede all prior discussions, agreements and understandings
relating to the subject matter hereof. This agreement may not be
changed or modified, except by an agreement in writing executed by the
party against whom such amendment or modification is to be enforced.
This Agreement may be

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	 	executed in counterparts, and each counterpart
will have the same force and effect as an original and will constitute
an effective, binding agreement on the part of each of the
undersigned. Execution and delivery of this agreement by facsimile or
similar transmission will be effective for all purposes.

	 	 	 	 	 	 	 	 	 

	Accepted and Agreed to:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Bravo Development Company, Inc.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Saed Mohseni
 

Saed Mohseni

	 	 	 	By:
	 	/s/ Alton F. Doody, III
 

	 	 
	 
	 	 	 	 	 	 	 	 
	Date: 1/12/07

	 	 	 	 	 	Date: 1/5/07	 	 

5

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