Document:

exhibit41-amendmentdated

Execution Version  Exhibit 4.1    FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT      This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this  “Amendment”) is entered into as of August 31, 2022 by and among     BED BATH AND BEYOND INC., a New York corporation, as the Company;     The other U.S. BORROWERS party hereto;    The CANADIAN BORROWERS party hereto (together with the Company and the U.S.  Borrowers, collectively, the “Borrowers”);    The other LOAN PARTIES party hereto;    The LENDERS party hereto;     JPMORGAN CHASE BANK, N.A., as Administrative Agent; and    SIXTH STREET SPECIALTY LENDING, INC., as FILO Agent.    R E C I T A L S:     WHEREAS, the Borrowers, the other Loan Parties party thereto, the Lenders party thereto and the  Administrative Agent are party to that certain Amended and Restated Credit Agreement, dated as of August  9, 2021 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date  hereof, the “Existing ABL Credit Agreement”; and the Existing ABL Credit Agreement as amended by this  Amendment, the “ABL Credit Agreement”);    WHEREAS, the Borrowers have requested, among other things, that (a) the FILO Term Loan  Lenders extend a new tranche of “first-in, last-out” term loans in an aggregate original principal amount of  $375,000,000 in connection with this Amendment to be funded on or prior to September 2, 2022 and (b)  the Administrative Agent and the Required Lenders amend certain other provisions of the Existing ABL  Credit Agreement;     WHEREAS, each FILO Term Loan Lender that is a signatory hereto desires to become a party to,  and bound by, the terms of the ABL Credit Agreement and the other Loan Documents as a FILO Term  Loan Lender and a Lender thereunder; and    WHEREAS, subject to the satisfaction (or waiver in accordance with the terms hereof) of the  conditions set forth herein, (a) the FILO Term Loan Lenders have indicated their willingness to make the  FILO Term Loans available and (b) the Administrative Agent and Required Lenders are willing to so amend  the Existing ABL Credit Agreement, in each case, on the terms set forth herein.     NOW THEREFORE, in consideration of the mutual covenants and agreements set forth in the ABL  Credit Agreement and this Amendment, and other good and valuable consideration, the receipt and  sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:    

 

2  1. Definitions.  Capitalized terms used in this Amendment, unless otherwise defined herein, shall  have the meanings ascribed to such terms in the ABL Credit Agreement.  2. Amendments to the Existing ABL Credit Agreement.    (a) Subject to the satisfaction (or waiver in accordance with the terms hereof) of the  conditions set forth in Section 4 below, and in reliance upon the representations and warranties of the Loan  Parties set forth in the Loan Documents and in this Amendment, the Borrowers, the other Loan Parties party  hereto, the Administrative Agent, and the Lenders party hereto, as applicable, agree, effective as of the First  Amendment Effective Date, that the Existing ABL Credit Agreement is hereby amended as reflected in the  pages of the ABL Credit Agreement attached as Annex A hereto to delete the stricken text (indicated  textually in the same manner as the following example: stricken text)) and to add the double-underlined  text (indicated textually in the same manner as the following example: double-underlined text).  (b) Schedules to the ABL Credit Agreement.    i. The Schedules to the ABL Credit Agreement are hereby amended and  restated in the form attached as Annex B hereto.  ii. Schedule 9.23 is hereby added to the ABL Credit Agreement in the  form attached as Annex C hereto.  3. Joinder of FILO Term Loan Lenders and Joinder and Appointment of FILO Agent.    (c) As of the First Amendment Effective Date, the parties hereto hereby agree and  acknowledge that, by executing this Amendment, each FILO Term Loan Lender party hereto shall become  a “Lender” and a “FILO Term Loan Lender” under the ABL Credit Agreement and the other Loan  Documents with a FILO Term Loan Commitment as set forth on the Commitment Schedule to the ABL  Credit Agreement.  Each FILO Term Loan Lender (a) represents and warrants that (i) it has full power and  authority, and has taken all action necessary, to execute and deliver this Amendment and to consummate  the transactions contemplated hereby and to become a Lender under the ABL Credit Agreement and the  other Loan Documents, (ii) it shall (A) be bound by the provisions of the ABL Credit Agreement and the  other Loan Documents as a Lender and FILO Term Loan Lender thereunder, (B) all rights under the ABL  Credit Agreement and the other Loan Documents as a Lender or FILO Term Loan Lender, and shall have  the obligations of a Lender and a FILO Term Loan Lender thereunder, (iii) it has received a copy of the  ABL Credit Agreement, and has received or has been accorded the opportunity to receive copies of the  most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other  documents and information as it deems appropriate to make its own credit analysis and decision to enter  into this Amendment and become a Lender and a FILO Term Loan Lender under the ABL Credit  Agreement and the other Loan Documents, and (iv) it has, independently and without reliance upon the  Administrative Agent, the FILO Agent or any existing Lender and based on such documents and  information as it has deemed appropriate, made its own credit analysis and decision to enter into this  Amendment and become a Lender and a FILO Term Loan Lender under the ABL Credit Agreement and  the other Loan Documents; and (b) agrees that (i) it will, independently and without reliance on any of the  Administrative Agent, the FILO Agent or any Lender, and based on such documents and information as it  shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action  under the Loan Documents and (ii) it will perform in accordance with their terms all of the obligations  which by the terms of the Loan Documents are required to be performed by it as a Lender and a FILO Term  Loan Lender.    

 

3  (d) As of the First Amendment Effective Date, each FILO Term Loan Lender, on  behalf of itself and any of its Affiliates that are Secured Parties irrevocably appoints Sixth Street Specialty  Lending, Inc. and its successors and assigns to serve as the FILO Agent under the Loan Documents and  each FILO Term Loan Lender authorizes the FILO Agent to take such actions as agent on its behalf and to  exercise such powers under the ABL Credit Agreement and the other Loan Documents as are delegated to  the FILO Agent under such agreements and to exercise such powers as are reasonably incidental thereto.   Without limiting the foregoing, each FILO Term Loan Lender hereby authorizes the FILO Agent to execute  and deliver, and to perform its obligations under, each of the Loan Documents to which the FILO Agent is  a party, and to exercise all rights, powers and remedies that the FILO Agent may have under such Loan  Documents.    4. Conditions to First Amendment Effective Date.  The effectiveness of this Amendment is subject  to the satisfaction (or waiver by the Required Lenders and the Required FILO Lenders) of each of the  following conditions precedent (the date on which such conditions are satisfied being referred to herein as  the “First Amendment Effective Date”):    (a) receipt by the Administrative Agent and the FILO Agent of this Amendment, duly  authorized and executed by the Loan Parties, the Administrative Agent, the FILO Agent and the Lenders  party hereto;    (b) receipt by the Administrative Agent and the FILO Agent of each of the following:  (i) the Amended and Restated Security Agreement, duly authorized and executed by the Grantors (as  defined therein) party thereto and the Administrative Agent, (ii) the Amended and Restated Canadian  Security Agreement, duly authorized and executed by the Grantors (as defined therein) party thereto and  the Administrative Agent, (iii) the Confirmation Agreement, duly authorized and executed by the Loan  Parties party thereto and the Administrative Agent, (iv) the First Amendment Fee Letter, duly authorized  and executed by the Company and the Administrative Agent and (v) each Intellectual Property Security  Agreement, in each case, in form and substance reasonably acceptable to the Administrative Agent and  suitable for filing in the United States Patent and Trademark Office, United Stated Copyright Office and/or  Canadian Intellectual Property Office (or other applicable office or agency) and duly authorized and  executed by such Loan Party and the Administrative Agent;  (c) receipt by the Administrative Agent and the FILO Agent of (i) a Borrowing Base  Certificate dated as of the First Amendment Effective Date (ii) the Tiger Appraisal and the Hilco Appraisal  and (iii) an executed copy of the engagement letter with Berkeley Research Group;  (d) receipt by the FILO Agent of the FILO Fee Letter, duly authorized and executed  by the Company and the FILO Agent;  (e) receipt by the Administrative Agent and the FILO Agent of such certificates of  resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each  Loan Party as the Administrative Agent may require evidencing (A) the authority of each Loan Party to  enter into this Amendment and the other Loan Documents to which such Loan Party is a party and (B) the  identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible  Officer in connection with this Amendment and the other Loan Documents to which such Loan Party is a  party;   (f) receipt by the Administrative Agent and the FILO Agent of copies of each Loan  Party’s organization documents and such other documents and certificates as the Administrative Agent or  the FILO Agent may reasonably require to evidence that each Loan Party is validly existing, in good  standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of  

 

4  properties or the conduct of its business requires such qualification, except to the extent that failure to so  qualify in such jurisdiction could not reasonably be expected to have a Material Adverse Effect;  (g) receipt by the Administrative Agent and the FILO Agent of a favorable opinion of  (i) Kirkland & Ellis LLP, counsel to the Loan Parties, (ii) Genova Burns LLC, special New Jersey counsel  to the Loan Parties, (iii) Waller Lansden Dortch & Davis, LLP, special Tennessee counsel to the Loan  Parties, (iv) Burnet, Duckworth & Palmer LLP, special Alberta counsel to the Loan Parties, (v) Baker &  McKenzie LLP, special Ontario counsel to the Loan Parties, and (vi) Farris LLP, special British Columbia  counsel to the Loan Parties, in each case, addressed to the Administrative Agent, the FILO Agent and each  Lender, as to such matters concerning the Loan Parties and the Loan Documents as the Administrative  Agent or the FILO Agent may reasonably request;  (h) receipt by the Administrative Agent and the FILO Agent of results of recent lien  searches in each jurisdiction reasonably requested by the Administrative Agent or the FILO Agent, and  such searches shall reveal no Liens on any of the assets of the Loan Parties except for Liens permitted by  Section 6.02 of the ABL Credit Agreement;  (i) all fees payable pursuant to the First Amendment Fee Letter that are due and  payable on or prior to the First Amendment Effective Date shall have been paid in full by the Borrowers in  accordance with the terms thereof;  (j) receipt by the Administrative Agent, the FILO Agent and/or the Lenders, as  applicable, of all fees, expenses and other amounts due and payable on or prior to the First Amendment  Effective Date pursuant to this Amendment, the ABL Credit Agreement or any other Loan Document,  including, to the extent invoiced no later than one (1) day prior to the First Amendment Effective Date,  reimbursement or payment of all reasonable and documented out of pocket expenses (including legal fees  and expenses of the Administrative Agent and the FILO Agent) required to be reimbursed or paid by the  Borrowers pursuant to this Amendment, the ABL Credit Agreement or any other Loan Document; provided,  however, that any such fees, expenses or other amounts due and payable to the FILO Agent may instead be  paid after the First Amendment Effective Date but on or prior to the First Amendment Funding Date to the  extent agreed to by the FILO Agent;   (k) the accuracy of the representations and warranties contained in Section 6 hereof;   (l) receipt by the Administrative Agent and the FILO Agent of (i) all documentation  and other information regarding the Borrowers requested in connection with applicable “know your  customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act and the  Proceeds of Crime Act, at least five (5) days prior to the First Amendment Effective Date, to the extent  requested in writing of the Borrowers at least five (5) days prior to the First Amendment Effective Date,  and (ii) to the extent any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership  Regulation, at least five (5) days prior to the First Amendment Effective Date, any Lender that has  requested, in a written notice to the Borrowers at least five (5) days prior to the First Amendment Effective  Date, a Beneficial Ownership Certification in relation to each Borrower shall have received such Beneficial  Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature  page to this Amendment, the condition set forth in this clause (l) shall be deemed to be satisfied);  (m) receipt by the Administrative Agent and the FILO Agent of a certificate, signed by  a Financial Officer of the Company, dated as of the First Amendment Effective Date (i) stating that, except  as set forth in Section 11 below, no Default has occurred and is continuing and (ii) stating that the  representations and warranties contained in the Loan Documents are true and correct as of the First  Amendment Effective Date;  

 

5  (n) receipt by the Administrative Agent and the FILO Agent of a solvency certificate  signed by a Financial Officer of the Company, dated as of the First Amendment Effective Date; and  (o) subject to those items explicitly identified in Schedule 5.15 to the ABL Credit  Agreement, each document (including any UCC or PPSA financing statement) required by the Collateral  Documents or under law or reasonably requested by the Administrative Agent or the FILO Agent to be  filed, registered or recorded in order to create in favor of the Administrative Agent, for the benefit of itself,  the applicable Lenders and the other Secured Parties, a perfected Lien on the Collateral described therein,  in accordance with this Amendment, the ABL Credit Agreement and the other Loan Documents, and shall  be in proper form for filing, registration or recordation.  5. Conditions to First Amendment Funding Date.  The effectiveness of the First Amendment  Funding Date is subject to the satisfaction (or waiver by the Required FILO Lenders and, with respect to  clause (e) below, the Required Lenders) of each of the following conditions precedent (the date on which  such conditions are satisfied being referred to herein as the “First Amendment Funding Date”):    (a) all fees payable pursuant to the FILO Fee Letter that are due and payable on or  prior to the First Amendment Funding Date shall have been or will be paid in full by the Borrowers in  accordance with the terms thereof;  (b) receipt by the FILO Agent of a written Borrowing Request for a FILO Term Loan  Borrowing in accordance with Section 2.03 of the ABL Credit Agreement;   (c) the accuracy of the representations and warranties contained in Section 6 hereof;   (d) receipt by the FILO Agent of a solvency certificate signed by a Financial Officer  of the Company, dated as of the First Amendment Funding Date; and  (e) after giving effect to the transactions contemplated by the First Amendment  including the transactions contemplated to occur on the First Amendment Funding Date, the sum of (i) cash  and cash equivalents of the Company and its Subsidiaries and (ii) Availability shall not be less than  $775,000,000.    6. Representations and Warranties.  To induce the Administrative Agent, the FILO Agent and the  Lenders party hereto to enter into this Amendment, each Loan Party represents and warrants to the  Administrative Agent, the FILO Agent and such Lenders that, immediately prior to and immediately after  giving effect to this Amendment, and on the First Amendment Funding Date, immediately prior to and  immediately after giving effect to the First Amendment Funding Date:  (a) Except as set forth in Section 11 below, no Default or Event of Default has  occurred and is continuing or would immediately result from the consummation of the transactions  contemplated by this Amendment;  (b) all representations and warranties contained in the ABL Credit Agreement and in  the other Loan Documents shall be true and correct in all material respects on and as of the First Amendment  Effective Date and the First Amendment Funding Date with the same effect as though such representations  and warranties had been made on the First Amendment Effective Date or the First Amendment Funding  Date, as applicable (except to the extent such representations and warranties expressly relate to an earlier  date, in which case such representations and warranties shall have been true and correct in all material  respects (without duplication of any materiality qualifiers set forth therein) as of such earlier date);  

 

6  (c) each Loan Party has the power and authority, and the legal right, to make, deliver  and perform under this Amendment, the ABL Credit Agreement, and other Loan Documents executed as  of the date hereof to which it is a party; and each Loan Party has taken all necessary organizational action  to authorize the execution, delivery and performance of this Amendment, the ABL Credit Agreement and  other Loan Documents executed as of the date hereof to which it is a party.  This Amendment has been duly  executed and delivered on behalf of each Loan Party party hereto. This Amendment, the ABL Credit  Agreement and each other Loan Document executed as of the date hereof constitutes, a legal, valid and  binding obligation of each Loan Party party hereto or thereto, enforceable against each such Loan Party in  accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency,  reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by  general equitable principles (whether enforcement is sought by proceedings in equity or at law);  (d) no governmental approval or consent or authorization of, filing with, notice to or  other act by or in respect of, any other Person is required in connection with the execution, delivery or  performance by, or enforcement against, any Loan Party of this Amendment, the ABL Credit Agreement  or any other Loan Document executed as of the date hereof, except such governmental approvals, consents,  authorizations, filings and notices that have been obtained or made and are in full force and effect; and  (e) the execution, delivery and performance of this Amendment, the ABL Credit  Agreement or any other Loan Document executed as of the date hereof (i) will not violate any Requirement  of Law applicable to any Loan Party or any Subsidiary, (ii) will not violate or result in a default under any  indenture (including the indenture governing the Senior Notes), or other material agreement or instrument  binding upon any Loan Party or any Subsidiary or the assets of any Loan Party or any Subsidiary, or give  rise to a right thereunder to require any payment to be made by any Loan Party or any Subsidiary, and (iii)  will not result in the creation or imposition of, or the requirement to create, any Lien on any asset of any  Loan Party or any Subsidiary (including Liens securing the Senior Notes), except Liens created pursuant to  the Loan Documents.  7. Loan Document. This Amendment shall be deemed to be a Loan Document as defined in the ABL  Credit Agreement.  8. Severability.  In the event any one or more of the provisions contained in this Amendment or in  any other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity,  legality and enforceability of the remaining provisions contained herein and therein shall not in any way be  affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular  jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction).  The  parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions  with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal  or unenforceable provisions.  9. References. Any reference to the Existing ABL Credit Agreement contained in any other  document, instrument or agreement executed in connection with the Existing ABL Credit Agreement,  including, without limitation, any Loan Document, shall be deemed to be a reference to the ABL Credit  Agreement.    10. Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto  on different counterparts), each of which shall constitute an original but all of which when taken together  shall constitute a single contract, and shall become effective as provided in Section 9.06 of the ABL Credit  Agreement.  Delivery of an executed signature page to this Amendment by facsimile transmission or other  electronic means shall be as effective as delivery of a manually signed counterpart of this Amendment.  

 

7  11. Waiver of Certain Defaults.  Certain Defaults and Events of Default may have occurred and may  be continuing under the Credit Agreement in respect of (a) Section 5.15 of the Existing ABL Credit  Agreement as a result of the Loan Parties’ failure to deliver to the Administrative Agent Deposit Account  Control Agreements or Securities Account Control Agreements within thirty (30) days of the effective date  of the Existing ABL Credit Agreement pursuant to Schedule 5.15 of the Existing ABL Credit Agreement  and (b) Section 5.07(c) of the Existing ABL Credit Agreement as a result of the Loan Parties’ failure to  comply with the covenant set forth in Section 5.07(c) of the Credit Agreement (collectively, the “Existing  Defaults”). The Administrative Agent and the Required Lenders hereby agree to waive the Existing  Defaults.  Except as set forth in this Section 10, nothing contained herein shall be deemed or construed to  constitute a waiver of any Default or Event of Default that has occurred or exists under the Existing ABL  Credit Agreement (and as amended by this Amendment) or any of the other Loan Documents, a waiver of  any Default or Event of Default that hereafter may occur under the ABL Credit Agreement or any of the  other Loan Documents, a waiver of compliance with any term or condition contained in the ABL Credit  Agreement or any of the other Loan Documents or constitute a course of conduct or dealing among the  parties hereto and to the ABL Credit Agreement.  Except as expressly set forth herein, the Administrative  Agent, the FILO Agent and the Lenders reserve all rights, privileges and remedies under the Loan  Documents.  Except as amended hereby, the Existing ABL Credit Agreement and other Loan Documents  remain unmodified and in full force and effect.    12. Reaffirmation.  Each Loan Party, as a debtor, grantor, pledgor, guarantor or assignor, or in any  similar capacity in which it has granted Liens or acted as a Guarantor, as the case may be, hereby ratifies,  confirms and reaffirms its liabilities, its payment and performance obligations (contingent or otherwise)  and its agreements under the ABL Credit Agreement and the other Loan Documents to the extent such Loan  Party is a party thereto, all as amended by this Amendment, and the Liens and security interests granted,  created and perfected thereby, and acknowledges that other than as specifically set forth herein, none of the  Administrative Agent, the FILO Agent or any Lender waives, diminishes or limits any term or condition  contained in the ABL Credit Agreement or any other Loan Document.  This Amendment contains the entire  agreement among the parties hereto contemplated by this Amendment.  The Loan Parties confirm and agree  that the Existing ABL Credit Agreement and the other Loan Documents and each and every covenant,  condition, obligation and provision set forth therein and as amended hereby are, and shall continue to be,  in full force and effect and are hereby confirmed, reaffirmed and ratified in all respects.  13. Successors and Assigns.  The provisions of this Amendment shall be binding upon and inure to  the benefit of the parties hereto and their respective successors and assigns; provided that the Borrowers  and the other Loan Parties may not assign or otherwise transfer any of their respective rights or obligations  hereunder.  Notwithstanding any notice or consent requirement in the ABL Credit Agreement to the  contrary, each of the parties hereto hereby consents to any assignment by MUFG Union Bank, N.A. of its  Commitments and Loans to its Affiliate, MUFG Bank, Ltd., which assignment shall otherwise be  documented in accordance with the terms hereof.  14. Further Assurance.  Each of the Loan Parties hereby agrees from time to time, as and when  reasonably requested by the Administrative Agent or Lenders, to execute and deliver or cause to be executed  and delivered, all such documents, instruments and agreements and to take or cause to be taken such further  or other action as the Administrative Agent or Lenders may reasonably deem necessary or desirable in order  to carry out the intent and purposes of this Amendment, the ABL Credit Agreement and the other Loan  Documents in each case in accordance with the ABL Credit Agreement.  15. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY  TRIAL.  The terms and provisions of Sections 9.09 and 9.10 of the ABL Credit Agreement are incorporated  herein by reference and shall apply to this Amendment, mutatis mutandis.  

 

8  [signature page follows] 

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date set forth  above.    BORROWERS:    BED BATH & BEYOND INC.,   a New York corporation      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer      BUY BUY BABY, INC.,      a Delaware corporation  DECORIST, LLC,     a Delaware limited liability company  HARMON STORES, INC.,     a Delaware corporation      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer      BED BATH & BEYOND OF CALIFORNIA  LIMITED LIABILITY COMPANY,   a Delaware limited liability company    By: Liberty Procurement Co. Inc.  Its: Sole Member      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer      

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  BED BATH & BEYOND CANADA L.P.,   an Ontario limited partnership    By: BBB Canada Ltd.  Its: General Partner      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  OTHER LOAN PARTIES:    BBB CANADA LP INC.,      a Delaware corporation  BBB VALUE SERVICES INC.,      a Tennessee corporation  BBBY MANAGEMENT CORPORATION,      a New Jersey corporation  BED ‘N BATH STORES INC.,      a New Jersey corporation  LIBERTY PROCUREMENT CO. INC.,      a New York corporation      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer      BBYCF LLC,      a Delaware limited liability company  BBBYTF LLC,      a Delaware limited liability company  BWAO LLC,      a Delaware limited liability company  CHEF C HOLDINGS LLC,      a Delaware limited liability company    By: Bed Bath & Beyond Inc.  Their: Sole Member      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer    

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  BBB CANADA LTD.,   a Canadian federal corporation      By: /s/ Gustavo Arnal   Name: Gustavo Arnal  Title: Chief Financial Officer        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  JPMORGAN CHASE BANK, N.A., individually and  as Administrative Agent      By: /s/ Devin Roccisano   Name: Devin Roccisano  Title: Executive Director      

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  JPMORGAN CHASE BANK, N.A., as a Lender      By: /s/ Devin Roccisano   Name: Devin Roccisano  Title: Executive Director      

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  JPMORGAN CHASE BANK, N.A., TORONTO  BRANCH, individually      By: /s/ Auggie Marchetti   Name: Auggie Marchetti  Title: Authorized Officer      

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  JPMORGAN CHASE BANK, N.A., TORONTO  BRANCH, as a Lender      By: /s/ Auggie Marchetti   Name: Auggie Marchetti  Title: Authorized Officer      

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  PNC BANK, NATIONAL ASSOCIATION, as a  Lender      By: /s/ Ralph Mielnik   Name: Ralph Mielnik  Title: Assistant Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  WELLS FARGO BANK, NATIONAL  ASSOCIATION, as a Lender      By: /s/ Chanda Ruff   Name: Chanda Ruff  Title: Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  WELLS FARGO CAPITAL FINANCE  CORPORATION CANADA, as a Lender      By: /s/ Carmela Massari   Name: Carmela Massari  Title: Senior Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  BANK OF MONTREAL, as a Lender      By: /s/ Helen Alvarez-Hernandez   Name: Helen Alvarez-Hernandez  Title: Managing Director      By: /s/ Joseph Basa   Name: Joseph Basa  Title: Assistant Vice President, CHICAGO BRANCH        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  BANK OF AMERICA, N.A., as a Lender      By: /s/ Bryn MacGillivray   Name: Bryn MacGillivray  Title: Assistant Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  BANK OF AMERICA, N.A. (acting through its  Canada Branch), as a Lender      By: /s/ Sylwia Durkiewicz   Name: Sylwia Durkiewicz  Title: Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  MUFG UNION BANK, N.A., as a Lender      By: /s/ Thomas Kainamura   Name: Thomas Kainamura  Title: Director        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  TD BANK, N.A., as a Lender      By: /s/ Antimo Barbieri   Name: Antimo Barbieri  Title: Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  CAPITAL ONE, NATIONAL ASSOCIATION, as a  Lender      By: /s/ Anand Sekaran   Name: Anand Sekaran  Title: Duly Authorized Signatory        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  TRUIST BANK, as a Lender      By: /s/ Cathleen Marston   Name: Cathleen Marston  Title: Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  GOLDMAN SACHS BANK USA, as a Lender      By: /s/ Dan Starr   Name: Dan Starr  Title: Authorized Signatory        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  WEBSTER BUSINESS CREDIT, A DIVISION OF  WEBSTER BANK N.A., SUCCESSOR IN  INTEREST TO WEBSTER BUSINESS CREDIT  CORPORATION, as a Lender      By: /s/ Gordon Massave   Name: Gordon Massave  Title: Senior Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  SIXTH STREET SPECIALTY LENDING, INC., as  FILO Agent      By: /s/ Bo Stanley   Name: Bo Stanley  Title: President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  SIXTH STREET SPECIALTY LENDING, INC., as a  FILO Term Loan Lender      By: /s/ Bo Stanley   Name: Bo Stanley  Title: President        SIXTH STREET LENDING PARTNERS., as a FILO  Term Loan Lender      By: /s/ Bo Stanley   Name: Bo Stanley  Title: Vice President        

 

  [Signature Page to First Amendment to Amended and Restated Credit Agreement]  TAO TALENTS, LLC, as a FILO Term Loan Lender      By: /s/ Joshua Peck   Name: Joshua Peck  Title: Vice Presidentexhibit101-employmentagr

    Exhibit 10.1  BED BATH & BEYOND INC.   650 Liberty Avenue   Union, NJ 07083   June 29, 2022  Ms. Sue E. Gove   Bed Bath & Beyond Inc.   650 Liberty Avenue   Union, N.J. 07083   Sue:   We write to set forth our agreement (this “Agreement”) with respect to your employment as the Interim Chief  Executive Officer of Bed Bath & Beyond Inc. (the “Company”).     1. Duties. The Company hereby agrees to employ you, and you agree to be employed by the Company, on  the terms and conditions hereinafter set forth. Effective as of June 23, 2022, you shall serve as the  Company’s Interim Chief Executive Officer. You will perform such duties customarily performed by  persons situated in similar executive capacities and as may from time to time be assigned to you by the  Company’s Board of Directors (the “Board”). You will also remain a member of the Board for so long as  you serve as Interim Chief Executive Officer. You agree to serve the Company faithfully, diligently and  competently, and to devote your full working time, energy and skill to the Company’s business, provided,  that you will be permitted to (i) continue to serve as a member of the public company boards of directors  on which you currently serve, and (ii) serve in any capacity with any professional, educational,  philanthropic, public interest, charitable or community organization, in the case of each of clauses (i) and  (ii), so long as such activities are reasonable and customary and do not significantly interfere or conflict  with your duties and obligations as the Company’s Interim Chief Executive Officer.    2. Compensation.     A. The Company will pay you an annual salary at a rate of $1,400,000 per annum, less applicable  withholdings for taxes, payable in accordance with the Company’s customary payroll practices from  time to time in effect.     B. You will receive an award of restricted stock units to be settled in cash in the form attached hereto as  Exhibit A (the “Award Agreement”) covering a number of shares of Company common stock with a  value of $2,600,000 based on the volume-weighted average closing price of a share of the  Company’s common stock over the twenty (20) trading day period ending immediately prior to the  grant date of such award (the “Stock Award”). The Stock Award shall be subject to the terms and  conditions of the Award Agreement and the Company’s 2018 Incentive Compensation Plan.     C. The Company will reimburse you on a tax neutral basis for all reasonable out-of-pocket business,  entertainment and travel expenses incurred by you in connection with the performance of your duties  hereunder, including travel to, and accommodations while working at, the Company’s headquarters  in New Jersey, in accordance with the Company’s travel and expense reimbursement policies from  time to time in effect. Notwithstanding the foregoing, the Company anticipates that you will travel on  a weekly or near-weekly basis between your home in Texas and the Company’s headquarters and  agrees to reimburse the cost of Business Class Airfare (or to the extent business class is not  reasonably available, First Class Airfare).    D. You will be entitled to participate in such privileges and in such insurance and other benefit  programs (other than the Company’s short-term and long-term incentive programs) as are generally  

 

    made available to the Company’s employees to the extent you meet the eligibility requirements for  such privileges and programs. You will be entitled to take vacations in accordance with the  Company’s vacation policy for senior executives from time to time in effect.    3. At-Will Employment; Termination of Employment.     A. Your employment by the Company as Interim Chief Executive Officer shall be for an initial one-year  term, unless earlier terminated by the Company. Notwithstanding the foregoing, your employment is  at-will, and you and the Company shall have the right to terminate your employment at any time for  any reason or no reason.     B. Notwithstanding the foregoing, upon certain qualifying terminations of employment, provided that  you have complied with the obligation to deliver a Release pursuant to Paragraph 3(c) and not  breached the provisions of Paragraph 4 hereof, your Stock Award shall vest in full or in part as set  forth in the Award Agreement.     C. In consideration for the vesting of your Stock Award pursuant to Paragraph 3(B), you shall deliver to  the Company, within twenty-one (21) days (or, if applicable, forty-five (45) days) of the termination  of your employment, a fully executed release agreement (the form of which release agreement shall  be commercially reasonable) which shall fully and irrevocably release and discharge the Company,  its officers, directors, employees and agents from any and all claims, charges, complaints, and  liabilities of any kind, known or unknown which you have or may have against any of the foregoing  parties, and shall contain commercially reasonable mutual nondisparagement provisions (except that,  with respect to the Company’s nondisparagement obligations, such obligations shall be solely to  inform its officers and directors that the Company is subject to a non-disparagement provision) (the  “Release”).    4. Confidentiality.     A. During or after your employment by the Company and thereafter, you agree that you will not,  whether alone or in association with any other person, directly or indirectly, knowingly divulge,  furnish or make accessible to any third person or organization other than in the regular course of the  Company’s business any confidential information concerning the Company or its subsidiaries or its  or their business, including, without limitation, confidential methods of operation and organization,  confidential sources of supply and customer or other mailing lists.     B. The provisions of this paragraph 4 shall survive the end of the term of your employment hereunder.  You acknowledge that any remedy at law for a breach or threatened breach of any of the provisions  of this paragraph 4 may be inadequate and that accordingly the Company shall be entitled to seek an  injunction or specific performance or any other mode of equitable relief.    5. Miscellaneous.     A. The Company shall pay or reimburse you for the full amount of your reasonable legal fees incurred  in connection with the negotiation of and entry into this Agreement.     B. To the maximum extent permitted by law, you will be indemnified under the Company’s Certificate  of Incorporation and Bylaws while serving as Interim Chief Executive Officer, and you will continue  to be covered by the Company’s Directors and Officers liability insurance policies in accordance  with their terms.     C. The Company may, at its option and for its benefit, obtain insurance with respect to your death,  disability or injury. You agree to submit to such physical examinations and supply such information  as may be reasonably required in order to permit the Company to obtain such insurance.   

 

      D. Any notice or other communication required or permitted to be given hereunder shall be deemed to  have been duly given when personally delivered or when sent by registered mail, return receipt  requested, postage prepaid, as follows:     If to the Company, at:  Bed Bath & Beyond Inc.   650 Liberty Avenue   Union, NJ 07083  If to you, at:  Your home address on file with the Company  Either party hereto may change its or her address for the purpose of this paragraph by written notice similarly given.     E. Neither party hereto may assign its rights or delegate its duties hereunder, except that the Company  may assign its rights hereunder to any person that (i) acquires substantially all of the business and  assets of the Company (whether by merger, consolidation, purchase of assets or other acquisition  transaction), and (ii) agrees in writing to assume the obligations of the Company hereunder.     F. This agreement shall be construed and enforced in accordance with the internal laws of the State of  New York, without regard to principles of conflicts of laws. Nothing in this agreement shall create,  or be deemed to create, any third party beneficiary rights in any person, including, without limitation,  any employee of the Company other than you. You agree that all actions or proceedings relating to  this agreement shall be tried and litigated only in the New York State or Federal courts located in the  County of New York, State of New York. You hereby irrevocably submit to the exclusive  jurisdiction of such courts for the purpose of any such action or proceeding.     G. If any provision of this agreement shall be held to be invalid or unenforceable, such invalidity or  unenforceability shall attach only to such provision and shall not affect or render invalid or  unenforceable any other provision of this agreement, and this agreement shall be construed as if such  provision had been drawn so as not to be invalid or unenforceable.     H. This letter sets forth our entire understanding with respect to the subject matter hereof and cannot be  changed, waived or terminated except by a writing signed by you and the Company. Any waiver by  either party of a breach of any provision of this agreement shall not operate as or be construed to be a  waiver of any other breach of such provision or of any breach of any other provision of this  agreement. This agreement shall be binding on the successors and assigns of the Company.     I. Although the Company does not guarantee the particular tax treatment of any payments or benefits  paid or provided hereunder, it is the intent of the parties that such payments and benefits comply  with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended, and the  regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and,  accordingly, our agreement set forth herein shall be interpreted in a manner consistent with such  intent. A termination of employment shall not be deemed to have occurred for purposes of any  provision providing for payments or benefits that are considered “nonqualified deferred  compensation” under Code Section 409A upon or following a termination of employment unless  such termination is also a “separation from service” under Code Section 409A. To the extent  applicable, if you are deemed on the date of termination to be a “specified employee” (as defined  under Code Section 409A(a)(2)(B)), then, any payments that are considered “nonqualified deferred  compensation” under Code Section 409A (“409A Payments”) shall be made as provided herein after  the date which is the earlier of (i) the expiration of the six-month period measured from the date of  

 

    your “separation from service,” and (ii) the date of your death (the “Delay Period”). Upon the  expiration of the Delay Period, all 409A Payments delayed pursuant to this provision (whether they  would have otherwise been payable in a single sum or in installments in the absence of such delay)  shall be paid to you in a lump sum on the first business day following the end of the Delay Period,  and any remaining payments and benefits due hereunder shall be paid in accordance with the normal  payment dates specified for them herein. Any right you have hereunder to receive installment  payments shall be treated as a right to receive a series of separate and distinct payments.   * * * * *      

 

    If the foregoing correctly sets forth your understanding of our agreement, please so indicate by signing and returning  to us a copy of this letter.   BED BATH & BEYOND INC.     By:    /s/ Harriet Edelman  Name:    Harriet Edelman  Title:    Lead Independent Director of the  Board      Accepted and agreed:    /s/ Sue E. Gove  Sue E. Gove  [Signature page to Interim CEO Employment Agreement]

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