Document:

EX-10.3

 Exhibit 10.3 
  

 
 AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED LOAN AGREEMENT 

This Amendment No. 2 (the “Amendment”) dated as of November 5, 2013, is between Bank of America, N.A. (the
“Bank”) and ANNIE’S, INC., a Delaware corporation, formerly known as Homegrown Naturals, Inc., which is qualified to do business in the State of California as Homegrown Naturals, ANNIE’S ENTERPRISES, INC., a Vermont corporation,
which is qualified to do business in the State of California as Annie’s Naturals, ANNIE’S HOMEGROWN, INC., a Delaware corporation and NAPA VALLEY KITCHENS, a California corporation (individually and collectively, the “Borrower”).

 RECITALS 
 A. The
Bank and the Borrower entered into a certain Second Amended and Restated Loan Agreement dated as of December 21, 2011, as amended by that certain Amendment No. 1 dated as of March 7, 2013 (together with any previous amendments, the
“Loan Agreement”). 
 B. The Bank and the Borrower desire to amend the Loan Agreement. 

AGREEMENT 
 1.
Definitions. Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Loan Agreement. 

2. Amendments. The Agreement is hereby amended as follows: 

2.1 The following Paragraph 1.A is hereby added to the Loan Agreement: 

 

	“1.A.	  LETTERS OF CREDIT AMOUNT AND TERMS 

  

	1.A.1.	  Letters of Credit. 

  

	(a)	During the availability period described below, at the request of the Borrower, the Bank will issue: 

  

	 	(i)	Standby and commercial letters of credit with a maximum maturity of three hundred sixty-five (365) days but not to extend more than three hundred sixty-five (365) days beyond the Facility No. 1 Expiration
Date. The standby letters of credit (but not the commercial letters of credit) may include a provision providing that the maturity date will be automatically extended each year for an additional year unless the Bank gives written notice to the
contrary; provided, however, that each standby letter of credit must include a final maturity date which will not be subject to automatic extension. 

  

	(b)	The amount of the standby and commercial letters of credit outstanding at any one time (including the drawn and unreimbursed amounts of such letters of credit) may not exceed Five Million Dollars ($5,000,000.00).

  

	(c)	Other than with respect to the calculation of fees for letters of credit (which shall be in accordance with clause (d)(vii) below), in calculating the principal amount outstanding under the Facility No. 1
Commitment, the calculation shall include the amount of any standby and commercial letters of credit outstanding, including amounts drawn on any such letters of credit and not yet reimbursed. 

  
 - 1 - 

	(d)	The Borrower agrees: 

  

	 	(i)	Any sum drawn under a letter of credit may, at the option of the Bank, be added to the principal amount outstanding under this Agreement. The amount will bear interest and be due as described elsewhere in this
Agreement. 

  

	 	(ii)	If there is an existing default under this Agreement, to immediately pay and make the Bank whole for any amounts drawn on any such letters of credit and not yet reimbursed, and to provide cash collateral in an amount
equal to the exposure of the Bank with respect to the undrawn amounts on any such letters of credit outstanding at such time. 

  

	 	(iii)	The issuance of any letter of credit and any amendment to a letter of credit is subject to the Bank’s written approval and must be in form and content satisfactory to the Bank and in favor of a beneficiary
acceptable to the Bank. 

  

	 	(iv)	To sign the Bank’s form Application and Agreement for Standby Letter of Credit or Application for Commercial Letter of Credit, as appropriate. 

 

	 	(v)	To pay any issuance and/or other fees and commissions that the Bank notifies the Borrower will be charged for issuing and processing letters of credit for the Borrower. 

 

	 	(vi)	To allow the Bank to automatically charge its checking account for any fees and other charges described in clause (v) above. 

  

	 	(vii)	To pay the Bank a non-refundable fee equal to 1.25% per annum of the outstanding undrawn amount of each standby letter of credit, payable quarterly in advance, calculated on the basis of the face amount outstanding
on the day the fee is calculated. If there is a default under this Agreement, at the Bank’s option, the amount of the fee shall be increased to an amount equal to the Default Rate described in paragraph 5.7 of this Agreement, effective starting
on the day the Bank provides notice of the increase to the Borrower.” 

  

	 	2.2	Paragraph 8.8 is hereby amended to read in its entirety as follows: 

  

	“8.8	Other Debts.  

 Not to have outstanding or incur any direct or contingent liabilities or lease
obligations (other than those to the Bank), or become liable for the liabilities of others, without the Bank’s written consent. This does not prohibit: 
  

	(a)	Acquiring goods, supplies, or merchandise on normal trade credit. 

  

	(b)	Endorsing negotiable instruments received in the usual course of business. 

  

	(c)	Obtaining surety bonds in the usual course of business. 

  

	(d)	Liabilities, lines of credit and leases in existence on the date of this Agreement disclosed in writing to the Bank, or operating leases the total expenses of which do not exceed One Million Five Hundred Thousand
Dollars (U.S. $1,500,000) in any twelve-month period. 

  

	(e)	Additional debts for capital expenditures which do not exceed a total principal amount of Ten Million U.S. Dollars (U.S. $10,000,000) outstanding at any one time. 

 

	(f)	Additional debts incurred in connection with acquisitions (including, without limitation, assumed debt, deferred purchase price, and earn-outs) which do not exceed a total principal amount of Ten Million U.S. Dollars
(U.S. $10,000,000) outstanding at any one time. 

  
 - 2 - 

	(g)	[Intentionally omitted.] 

  

	(h)	Any of the following: (i) entering into the Agreement of Purchase and Sale, dated on or about November 5, 2013, by and among Safeway Australia Holdings, Inc., Safeway Inc., and the Borrower (the “Purchase
Agreement”) and performing or causing Newco (defined below) to perform obligations thereunder, (ii) assigning to a new limited liability company to be formed as a wholly-owned subsidiary of Annie’s Homegrown, Inc. (“Newco”)
any of the obligations of Annie’s, Inc. under the Purchase Agreement, including its obligations to execute and deliver the Supply Agreement and Transition Services Agreement (as such terms are defined in the Purchase Agreement), and
(iii) in connection with such assignment, guaranteeing Newco’s performance thereunder. Notwithstanding the foregoing, the assignment and guarantee described in clauses (ii) and (iii) above may only occur if prior thereto Newco
executes and delivers to Bank a Joinder Agreement, in form and content acceptable to the Bank. 

  

	 	2.3	Paragraph 8.9 is hereby amended to read in its entirety as follows: 

  

	“8.9	Other Liens.  

 Not to create, assume, or allow any security interest or lien (including judicial
liens) on property the Borrower now or later owns, except Permitted Liens. For purposes of this Paragraph 8.9, the following shall also constitute Permitted Liens: (i) easements, rights-of-way, servitudes, restrictions, oil, gas, or other
mineral reservations and other minor defects, encumbrances, and irregularities in the title to real property which would not result in a material adverse effect on Borrower’s (or any Obligor’s) business condition (financial or otherwise),
operations, properties or prospects, or ability to repay the credit; (ii) liens securing any capital lease obligations to the extent permitted under Section 8.8 hereof; (iii) statutory liens such as carriers’,
warehousemen’s, mechanics’, materialmen’s, landlords’, repairmen’s or other like liens imposed by law or that arise by operation of law in the ordinary course of business which are not overdue by a period of more than thirty
(30) days or which are being contest in good faith by appropriate proceedings; (iv) any interest or title of a lessor or sublessor under any lease entered into by Borrower in the ordinary course of its business and covering only the assets
so leased or subleased; (v) assignments of insurance or condemnation proceeds provided to landlords pursuant to the terms of any lease and liens or rights reserved in any lease for rent or for compliance with the terms of such lease and
(vi) rights reserved to or vested in any governmental authority to control or regulate real property or to use real property in any manner, which rights would not result in a material adverse effect on Borrower’s (or any Obligor’s)
business condition (financial or otherwise), operations, properties or prospects, or ability to repay the credit.” 
  

	 	2.4	Paragraph 9.2 is hereby amended to read in its entirety as follows: 

  

	“9.2	Compliance Regarding Hazardous Substances. 

 The Borrower represents and warrants that the Borrower has
complied in all material respects with all current and future laws, regulations and ordinances or other requirements of any governmental authority relating to or imposing liability or standards of conduct concerning protection of health or the
environment or hazardous substances.” 
 3. Consent. Subject (only with respect to those items specifically set forth in the
following paragraph) to satisfaction of the conditions described below, Bank does hereby consent, pursuant to Paragraph 8.14(a), (b), and (c) of the Loan Agreement, to (1) the formation of Newco as a wholly-owned subsidiary of Annie’s
Homegrown, Inc., (2) the transactions contemplated by the Purchase Agreement (including the possible assignment and guarantee related thereto, as described in Paragraph 8.8(h) of the Loan Agreement), and (3) the transactions contemplated
by the Supply Agreement and Transition Services Agreement (including the possible assignment and guarantee related thereto, as described in Paragraph 8.8(h) of the Loan Agreement). 

  
 - 3 - 

 Such consent with respect to the formation of Newco is conditioned upon the following occurring by
November 30, 2013: (a) Newco is formed as a single member limited liability company and wholly-owned subsidiary of Annie’s Homegrown, Inc., and Borrower furnishes Bank with copies of its certificate of formation and initial operating
agreement; and (b) Newco executes and delivers to Bank a Joinder Agreement in the form attached hereto as Exhibit A (the “Joinder Agreement”), and Borrower furnishes Bank with evidence that the execution, delivery and
performance by Newco of the Joinder Agreement and any instrument or agreement required under the Joinder Agreement have been duly authorized. Such consent with respect to the assignment of any of Borrower’s obligations under the Purchase
Agreement and the guarantee by Borrower of Newco’s performance under the Purchase Agreement is conditioned upon the following occurring within two business days of the Closing (as defined in the Purchase Agreement): Borrower furnishes Bank with
(a) copies of the Purchase Agreement, Supply Agreement and Transition Services Agreement (including any assignment and guarantee related thereto, as described in Paragraph 8.8(h) of the Loan Agreement); and (b) evidence of the insurance
contemplated by Paragraph 8.16 of the Loan Agreement covering Newco. Failure to satisfy such conditions by such date shall be an event of default under the Loan Agreement. 

4. Representations and Warranties. When the Borrower signs this Amendment, the Borrower represents and warrants to the Bank that:
(a) there is no event which is, or with notice or lapse of time or both would be, a default under the Loan Agreement except those events, if any, that have been disclosed in writing to the Bank or waived in writing by the Bank, (b) the
representations and warranties in the Loan Agreement are true as of the date of this Amendment as if made on the date of this Amendment, (c) this Amendment does not conflict with any law, agreement, or obligation by which the Borrower is bound,
except to the extent where any such conflict would not have a material adverse effect on Borrower’s business condition (financial or otherwise), operations, properties or prospects, or ability to repay the credit, and (d) if the Borrower
is a business entity or a trust, this Amendment is within the Borrower’s powers, has been duly authorized, and does not conflict with any of the Borrower’s organizational papers. 

5. Conditions. This Amendment will be effective when the Bank receives the following items, in form and content acceptable to the Bank:

 5.1 If the Borrower or any guarantor is anything other than a natural person, evidence that the execution, delivery and
performance by the Borrower and/or such guarantor of this Amendment and any instrument or agreement required under this Amendment have been duly authorized. 

5.2 Payment by the Borrower of all reasonable and documented out-of-pocket costs, expenses and attorneys’ fees incurred by
the Bank in connection with this Amendment. 
 6. Effect of Amendment. Except as provided in this Amendment, all of the terms and
conditions of the Loan Agreement, including but not limited to the Dispute Resolution Provision, shall remain in full force and effect. 

7. Counterparts. This Amendment may be executed in counterparts, each of which when so executed shall be deemed an original, but all
such counterparts together shall constitute but one and the same instrument. 

  
 - 4 - 

 8. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES
THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO
THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENT
MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 - 5 - 

 This Amendment is executed as of the date stated at the beginning of this Amendment. 

 

					
		 	BANK OF AMERICA, N.A.
			
	  
	 	By:	 	/s/ David M. Meddaugh
		 	Name:	 	David M. Meddaugh
		 	Title:	 	Senior Vice President
		
		 	Address where notices to the Bank are to be sent:
		
	 	 	 Farmington-Notice Desk

CT2-515-BB-03
 70 Batterson Park Road

Farmington, CT 06032

			
		 	Telephone:	 	 
			
		 	Facsimile:	 	 
		
	 Address where notices to the Borrower
 are to be
sent:
	 	 ANNIE’S, INC.,
 a Delaware
corporation

			
	 ANNIE’S, INC.
 1610 Fifth
Street
 Berkeley, CA 94710
 Phone: 510-558-7500

Fax:     510-558-6072
	 	By:	 	/s/ John Foraker
	 	Name:	 	John Foraker
	 	Title:	 	Chief Executive Officer
		
	 Address where notices to the Borrower
 are to be
sent:
	 	 ANNIE’S ENTERPRISES, INC.,
 a
Vermont corporation

			
	 ANNIE’S ENTERPRISES, INC.,
 c/o
ANNIE’S, INC.
 1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
 Fax:
    510-558-6072
	 	By:	 	/s/ John Foraker
	 	Name:	 	John Foraker
	 	Title:	 	Chief Executive Officer
		
	 Address where notices to the Borrower
 are to be
sent:
	 	 ANNIE’S HOMEGROWN, INC.,
 a
Delaware corporation

			
	 ANNIE’S HOMEGROWN, INC.
 c/o
ANNIE’S, INC.
 1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
 Fax:
    510-558-6072
	 	By:	 	/s/ John Foraker
	 	Name:	 	John Foraker
	 	Title:	 	Chief Executive Officer

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

  
 - 6 - 

					
	 Address where notices to the Borrower
 are to be
sent:
	 	 NAPA VALLEY KITCHENS,
 a California
corporation

			
	 NAPA VALLEY KITCHENS
 c/o ANNIE’S,
INC.
	 	By:	 	/s/ John Foraker
	1610 Fifth Street	 	Name:	 	John Foraker
	Berkeley, CA 94710	 	Title:	 	Chief Executive Officer
	Phone: 510-558-7500	 		 	
	Fax:     510-558-6072	 		 	

  
 - 7 - 

 EXHIBIT A 

JOINDER AGREEMENT 

 

 
 JOINDER AGREEMENT 

This Joinder Agreement (this “Agreement”), dated as of
            , 2013, is between Bank of America, N.A. (the “Bank”) and ANNIE’S, INC., a Delaware corporation, formerly known as Homegrown Naturals, Inc., which is
qualified to do business in the State of California as Homegrown Naturals, ANNIE’S ENTERPRISES, INC., a Vermont corporation, which is qualified to do business in the State of California as Annie’s Naturals, ANNIE’S HOMEGROWN, INC., a
Delaware corporation, and NAPA VALLEY KITCHENS, a California corporation (the “Existing Borrowers”), and [            ], a Delaware limited liability company (the
“Additional Borrower” and together with the Existing Borrowers, individually and collectively, the “Borrower”). 

RECITALS 
 A. The
Additional Borrower desires to become (i) a “Borrower” pursuant to the terms of that certain Second Amended and Restated Loan Agreement, dated as of December 21, 2011, as amended by that certain Amendment No. 1 dated as of
March 7, 2013, and by that certain Amendment No. 2 dated as of November             , 2013, by and between the Bank and the Existing Borrowers (collectively, the
“Loan Agreement”); and a “Pledgor” pursuant to the terms of that certain Amended and Restated Security Agreement, dated as of August 25, 2010, by and between the Bank and the Existing Borrowers (the “Security
Agreement”). 
 B. The Bank is willing to allow the Additional Borrower to become a “Borrower” pursuant to the terms of the
Loan Agreement and a “Pledgor” pursuant to the terms of the Security Agreement. 
 AGREEMENT 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Loan Agreement.

 2. Joinder. 
 2.1.
The Additional Borrower hereby acknowledges, agrees and confirms that, by its execution of this Agreement, effective the date hereof, the Additional Borrower will be deemed to be a party to the Loan Agreement and a “Borrower” for all
purposes of the Loan Agreement, and will be deemed to be a party to the Security Agreement and a “Pledgor” for all purposes of the Security Agreement, and shall have all of the rights and obligations of a Borrower and a Pledgor thereunder
as fully as if it had executed the Loan Agreement and the Security Agreement as a Borrower or a Pledgor. The Additional Borrower hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained
in the Loan Agreement and the Security Agreement which are binding upon the Borrower and Pledgor, as may be supplemented from time to time in accordance with the terms thereof. 

2.2. The Bank confirms that immediately upon execution of this Agreement by the parties hereto, the Additional Borrower shall become a
Borrower and a Pledgor under the Loan Agreement and Security Agreement respectively. 
 2.3. The Additional Borrower agrees that, at any
time and from time to time, upon the written request of the Bank, it will execute and deliver such further documents and do such further acts and things as the Bank may reasonably request in order to effect the purposes of this Agreement. 

 2.4. The Additional Borrower represents and warrants to the Bank that: (a) there is no event
which is, or with notice or lapse of time or both would be, a default under the Loan Agreement except those events, if any, that have been disclosed in writing to the Bank or waived in writing by the Bank, (b) the representations and warranties
in the Loan Agreement are true as of the date of this Agreement as if made on the date of this Agreement, (c) this Agreement does not conflict with any law, agreement, or obligation by which the Additional Borrower is bound, except to the
extent where any such conflict would not have a material adverse effect on the Additional Borrower’s business condition (financial or otherwise), operations, properties or prospects, or ability to repay the credit, and (d) if the
Additional Borrower is a business entity or a trust, this Agreement is within the Additional Borrower’s powers, has been duly authorized, and does not conflict with any of the Additional Borrower’s organizational papers. 

3. Conditions. This Agreement will be effective when the Bank receives the following items, in form and content acceptable to the Bank:

 3.1. If the Additional Borrower or any guarantor is anything other than a natural person, evidence that the execution, delivery and
performance by the Additional Borrower and/or such guarantor of this Agreement and any instrument or agreement required under this Agreement have been duly authorized. 

3.2. Payment by the Additional Borrower of all costs, expenses and attorneys’ fees (including allocated costs for in-house legal
services) incurred by the Bank in connection with this Agreement. 
 4. Counterparts. This Agreement may be executed in counterparts,
each of which when so executed shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

5. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE
FINAL AGREEMENT BETWEEN PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH
COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF
ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES. 
 [SIGNATURE PAGE FOLLOWS] 

  
 2 

 This Agreement is executed as of the date stated at the beginning of this Agreement. 

 

							
		 		 	 BANK:
  

BANK OF AMERICA, N.A.

				
		 		 	By:	 	 
		 		 	Name:	 	David M. Meddaugh
		 		 	Title:	 	Senior Vice President
			
		 		 	Address where notices to the Bank are to be sent:
	 	 	 	 	 Farmington-Notice Desk

CT2-515-BB-03
 70 Batterson Park Road

Farmington, CT 06032

				
		 		 	Telephone:	 	 
				
		 		 	Facsimile:	 	 
			
		 		 	ADDITIONAL BORROWER:
			
	 Address where notices to the Borrower
 are to be
sent:
	 		 	
[                          
                              ],

a Delaware limited liability company,

				
	
[                          
      ]
 c/o ANNIE’S, INC.

1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
	 		 	By:	 	 
	 		 	Name:	 	 
	 		 	Title:	 	 
	Fax:     510-558-6072	 		 		 	
			
		 		 	EXISTING BORROWERS:
			
	 Address where notices to the Borrower
 are to be
sent:
	 		 	 ANNIE’S, INC.,
 a Delaware
corporation

				
	 ANNIE’S, INC.
 1610 Fifth
Street
 Berkeley, CA 94710
 Phone: 510-558-7500
	 		 	By:	 	 
	 		 	Name:	 	 
	 		 	Title:	 	 
	Fax: 510-558-6072	 		 		 	

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

  
 S-1 

							
	 Address where notices to the Borrower
 are to be
sent:
	 		 	 ANNIE’S ENTERPRISES, INC.,
 a
Vermont corporation

				
	 ANNIE’S ENTERPRISES, INC.,
 c/o
ANNIE’S, INC.
 1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
	 		 	By:	 	 
	 		 	Name:	 	 
	 		 	Title:	 	 
	Fax: 510-558-6072	 		 		 	
			
	 Address where notices to the Borrower
 are to be
sent:
	 		 	 ANNIE’S HOMEGROWN, INC.,
 a
Delaware corporation

				
	 ANNIE’S HOMEGROWN, INC.
 c/o
ANNIE’S, INC.
 1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
	 		 	By:	 	 
	 		 	Name:	 	 
	 		 	Title:	 	 
	Fax: 510-558-6072	 		 		 	

  

							
	 Address where notices to the Borrower
 are to be
sent:
	 		 	 NAPA VALLEY KITCHENS,
 a California
corporation

				
	 NAPA VALLEY KITCHENS
 c/o
ANNIE’S, INC.
 1610 Fifth Street
 Berkeley, CA 94710

Phone: 510-558-7500
	 		 	By:	 	 
	 		 	Name:	 	 
	 		 	Title:	 	 
	Fax: 510-558-6072	 		 		 	

  
 S-2EX-10.81

 Exhibit 10.81 

AMENDMENT #3 TO 

EMPLOYMENT AGREEMENT 

THIS AMENDMENT #3 (this “Amendment”) is made as of the 7th day of
August, 2013, by and between Steven R. Lacy (“Executive”) and Koppers Inc. (the “Company”). 
 WHEREAS, Executive
and the Company entered into an employment contract setting forth the terms and conditions of Executive’s employment with the Company on April 5, 2002 (the “Employment Contract”); and 

WHEREAS, the parties entered into an amendment of the Employment Contract to comply with applicable requirements under
Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and other interpretative guidance issued thereunder (“Section 409A”), which amendment was effective as of January 1, 2009; and 

WHEREAS, the parties entered into an amendment of the Employment Contract dated December 19, 2012 to clarify the Employment
Contract’s continued compliance with Section 409A; and 
 WHEREAS the parties desire to further amend the Employment
Contact as set forth herein; 
 NOW, THEREFORE, the parties, intending to be legally bound, hereby agree as follows: 

 

	 	1.	The amendments to the Employment Contract set forth below shall become effective on August 7, 2013. 

  

	 	2.	The last sentence of Section 1 of the Employment Contract shall be deleted in its entirety. 

  

	 	3.	Section 8(c)(iv) of the Employment Contract shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“(iv)	Benefits. For a twenty-four (24) month period after such termination, the Company shall arrange to provide Executive with life, disability, accident and group health insurance benefits substantially similar
to those which Executive was receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by Executive pursuant to this Section 8(c)(iv) shall be reduced to the extent comparable benefits are actually received by
Executive during the twenty-four (24) month period following Executive’s termination, and any such benefits actually received by Executive shall be reported to the Company.” 

 

	 	4.	Section 9(a)(i) of the Employment Contract shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“(i)	any person, or more than one person acting as a group acquires ownership of stock of the Company that, together with the stock held by such person or group, represents a majority of the total voting power of the stock
of the Company (“Change in Ownership”); or,” 

  

	 	5.	Section 9(c)(ii) of the Employment Contract shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“(ii)	In lieu of any further salary payments to Executive for periods subsequent to the Date of Termination, the Company shall pay as severance pay to Executive, at the time specified in subsection (d) below, a lump sum
severance payment (together with the payments provided in paragraph (iii), below, the “Severance Payments”) equal to two times the sum of (1) Executive’s annual Base Salary as in effect as of the Date of Termination or
immediately prior to the Change in Control of the Company, whichever is greater, and (2) one-half of the sum of the amounts awarded to Executive under the applicable incentive plan and bonus plans in respect of each of the two calendar years
preceding that in which occurs the Date of Termination or that in which occurs the Change in Control, whichever is greater;” 

  

	 	6.	Section 9(c)(iv) of the Employment Contract shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“(iv)	[This Subsection has been deleted by agreement of the parties].” 

  

	 	7.	Section 9(c)(vi) shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“(vi)	For a twenty-four (24) month period or for the term of this Agreement, whichever is later, the Company shall arrange to provide Executive with life, disability, accident and group health insurance benefits
substantially similar to those which Executive was receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by Executive pursuant to this paragraph (vi) shall be reduced to the extent comparable benefits are
actually received by Executive during the twenty-four (24) month period following Executive’s termination, and any such benefits actually received by Executive shall be reported to the Company; and” 

 

	 	8.	Section 13 of the Employment Contract shall be deleted in its entirety and shall be replaced by the following: 

  

	 	“13.	[This Section has been deleted by agreement of the parties].” 

	 	9.	Except as expressly modified herein, all terms and conditions of the Employment Contract shall remain unchanged and in full force and effect. 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly and properly executed the day and year first above written. 

 

					
	 THE COMPANY:
	    	EXECUTIVE:	  	
			
	 /s/ Walter W. Turner

Signature
	    	 /s/ Steven R. Lacy

Signature
	  	
			
	 Walter W. Turner

Name
	    	 Steven R. Lacy

Name
	  	
			
	 President and Chief Executive Officer

Title
	    	 Senior Vice President, Administration, General Counsel & Secretary

Title

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