Denny’s Names John Miller CEO and gives Performance Units and NQ stock options - RestaurantNews.com

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The Compensation and Incentives Committee of Denny’ s Board of Directors approved the following
incentive awards to Mr. Miller as an inducement to his employment: (i) 200,000 performance-based
restricted stock units, and (ii) a non-qualified stock option to purchase up to 200,000 shares of common
stock.
The performance-based restricted stock units represent the right to earn up to 200,000 shares of Denny’ s
common stock, based on the closing price of the common stock exceeding specific price hurdles for 20
consecutive trading days, and subject to Mr. Miller’ s continued employment with Denny’ s.
The stock options will have an exercise price per share equal to the fair market value of the underlying
shares as of the grant date. The options will vest in equal annual installments on each of the first three
anniversaries of the grant date, subject to Mr. Miller’ s continued employment with Denny’ s. The stock
options have a maximum term of ten (10) years.
The awards were negotiated and approved as an inducement to Mr. Miller’ s entering into employment with
Denny’ s in accordance with NASDAQ Listing Rule 5635(c)(4)