SEC Contract Filing

Filing Date: 2025-03-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>3
<FILENAME>exhibit1016-executivesever.htm
<DESCRIPTION>EX-10.16
<TEXT>
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<title>Document</title></head><body><div id="i8d3009fd2e3d49e182fcf2d69aa78893_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Exhibit 10.16</font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">First Watch Restaurant Group, Inc.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Executive Severance Plan</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">I.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:10.97pt">PURPOSE</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">The purpose of this First Watch Restaurant Group, Inc. Executive Severance Plan (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Plan</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;) is to retain certain officers and other key employees of the Company by providing appropriate severance benefits to such individuals and to ensure their continued dedication to their duties, including in the event of a Change of Control.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">II.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:6.69pt">Eligible Participants</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Participants in the Plan will include the Executive Officers of the Company and any other individuals selected by the Committee in its sole discretion, in each case, who executes a Participation Agreement (each, an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Executive</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;).</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">III.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:2.41pt">DEFINITIONS AND CONSTRUCTION</font></div><div style="margin-bottom:12pt;margin-top:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">3.1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:22.25pt;text-decoration:underline">Definitions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Where the following capitalized words and phrases appear in this Plan, they shall have the respective meanings set forth below&#58;</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">(a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:5.8pt">&#8220;Applicable Factor&#8221; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">shall mean the relevant factor specified as applicable to the Executive, as set forth on the attached </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Schedule I</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%"> opposite such Executive&#8217;s job level in the column titled &#8220;Applicable Factor&#8221;. </font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">(b)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%;padding-left:5.18pt">&#8220;Applicable CIC Factor&#8221; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%">shall mean the relevant factor specified as applicable to the Executive, as set forth on the attached </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight: