Document:

EX-10.1

 Exhibit 10.1 

TOTAL SHAREHOLDER RETURN 

PERFORMANCE RELATED STOCK AWARD AGREEMENT 

This Total Shareholder Return Performance Related Stock Award Agreement (the “Agreement”), dated April 24, 2018 (the
“Grant Date”), is between Landstar System, Inc. (the “Company”) and James B. Gattoni (the “Executive”). 

1.    Grant of Performance Related Stock Award. This Agreement is entered into pursuant to the
Landstar System, Inc. 2011 Equity Incentive Plan (the “Plan”), and evidences the grant of a Performance Related Stock Award pursuant to Section 9 of the Plan in the form of 9,324 Restricted Stock Unit Awards
(“PSUs”). The PSUs and this Agreement are subject to the terms and provisions of the Plan. Capitalized terms that are not otherwise defined in this Agreement have the meanings ascribed to them in the Plan. 

2.    Dividend Equivalents. Dividend equivalents shall be credited to the PSUs each time that a dividend is
paid on the Company’s Stock. The aggregate amount of such dividend equivalents so credited in respect of each such dividend shall be equal to the dividend paid on a share of Stock multiplied by the number of PSUs credited to the Executive under
this Agreement on the dividend record date. The dividend equivalents shall be converted into additional PSUs, rounded down to the nearest whole number, on the dividend payment date based upon the then Fair Market Value of the Stock, and such PSUs
shall be added to the PSUs credited to the Executive under this Agreement. 
 3.    Total Shareholder Return
Vesting Requirement. Subject to Section 4, Section 5 and Section 6, the PSUs shall vest as follows: 

a.    First Tranche. 3,108 PSUs (the “First Tranche”), adjusted to
reflect dividends (if any) paid during the period beginning on July 1, 2018 and ending on June 30, 2022 (the “First Performance Period”), and as may be necessary to take into account capital adjustments described in
Section 5.3 of the Plan, shall vest on June 30, 2022 (the “First Vesting Date”) based on the First Performance Period TSR. The “First Performance Period TSR” shall be measured as the compound
annual growth rate (“CAGR”) over the First Performance Period where (i) the beginning value is the average Fair Market Value of a share of Stock for the period beginning on May 1, 2018 and ending on
June 30, 2018 (the “Beginning Value”) and (ii) the ending value is the average Fair Market Value of a share of Stock for the period beginning on May 1, 2022 and ending on the First Vesting Date, adjusted
to reflect dividends (if any) paid during the First Performance Period, and as may be necessary to take into account capital adjustments described in Section 5.3 of the Plan. The formula for determining the total number of PSUs in the First
Tranche that may vest and become payable will equal the number of PSUs credited to the Executive under this Agreement with respect to the First Tranche as of the First Vesting Date times the “Payout Percentage” set
forth in the TSR Table below. 
 b.    Second Tranche. 3,108 PSUs (the “Second
Tranche”), adjusted to reflect dividends (if any) paid during the period beginning on July 1, 2018 and ending on June 30, 2023 (the “Second Performance Period”), and as may be necessary to take into account
capital adjustments described in Section 5.3 of the Plan, shall vest on June 30, 2023 (the 

 
“Second Vesting Date”) based on the Second Performance Period TSR. The “Second Performance Period TSR” shall be measured as the CAGR for the Second
Performance Period where (i) the beginning value is the Beginning Value and (ii) the ending value is the average Fair Market Value of a share of Stock for the period beginning on May 1, 2023 and ending on the Second
Vesting Date, adjusted to reflect dividends (if any) paid during the Second Performance Period, and as may be necessary to take into account capital adjustments described in Section 5.3 of the Plan. The formula for determining the total number
of PSUs in the Second Tranche that may vest and become payable will equal the number of PSUs credited to the Executive under this Agreement with respect to the Second Tranche as of the Second Vesting Date times the “Payout
Percentage” set forth in the TSR Table below. 
 c.    Third Tranche. 3,108 PSUs (the
“Third Tranche”), adjusted to reflect dividends (if any) paid during the period beginning on July 1, 2018 and ending on June 30, 2024 (the “Third Performance Period”, and the First
Performance Period with respect to the First Tranche, the Second Performance Period with respect to the Second Tranche and the Third Performance Period with respect to the Third Tranche shall be referred to as the “Applicable
Performance Period”)), and as may be necessary to take into account capital adjustments described in Section 5.3 of the Plan, shall vest on June 30, 2024 (the “Third Vesting Date”, and, for
purposes of this Agreement, the First Vesting Date with respect to the First Tranche, the Second Vesting Date with respect to the Second Tranche and the Third Vesting Date with respect to the Third Tranche each constitutes an
“Applicable Vesting Date”) based on the Third Performance Period TSR. The “Third Performance Period TSR” shall be measured as the CAGR for the Third Performance Period where
(i) the beginning value is the Beginning Value and (ii) the ending value is the average Fair Market Value of a share of Stock for the period beginning on May 1, 2024 and ending on the Third Vesting Date, adjusted to
reflect dividends (if any) paid during the Third Performance Period, and as may be necessary to take into account capital adjustments described in Section 5.3 of the Plan. The formula for determining the total number of PSUs in the Third
Tranche that may vest and become payable will equal the number of PSUs credited to the Executive under this Agreement with respect to the Third Tranche as of the Third Vesting Date times the “Payout Percentage” set forth in the TSR
Table below. 
 d.    Catch Up Vesting. 

i.     First Tranche Initial Catch-Up Vesting Date.
If, on the first Vesting Date, the First Tranche does not vest at the 150% Payout Percentage, the First Tranche, adjusted to reflect dividends (if any) through the Second Performance Period, and as may be necessary to take into account capital
adjustments described in Section 5.3 of the Plan, shall vest on the Second Vesting Date (the “First Tranche Initial Catch-Up Vesting Date”) based on the Second Performance Period
TSR, and the formula for determining the total number of PSUs in the First Tranche that may vest and become payable as of the First Tranche Initial Catch-Up Vesting Date will equal the number of PSUs credited
to the Executive under this Agreement with respect to the First Tranche as of the First Tranche Initial Catch-Up Vesting Date times the “Payout Percentage” set forth in the TSR Table below,
minus the number of PSUs that vested as of the First Vesting Date. 

  
 2 

 ii.     First Tranche Final Catch-Up Vesting Date. If, after operation of Section 3(a) and the forgoing Section 3(d)(i), the First Tranche does not vest as of the First Tranche Initial
Catch-Up Vesting Date at the 150% Payout Percentage, the First Tranche, adjusted to reflect dividends (if any) through the Third Performance Period, and as may be necessary to take into account capital
adjustments described in Section 5.3 of the Plan, shall vest on the Third Vesting Date (the “First Tranche Final Catch-Up Vesting Date” and, for purposes of this Agreement, the
First Tranche Initial Catch-Up Vesting Date with respect to the First Tranche and the First Tranche Final Catch-Up Vesting Date with respect to the First Tranche each
constitutes an “Applicable Vesting Date”) based on the Third Performance Period TSR, and the formula for determining the total number of PSUs in the First Tranche that may vest and become payable as of
the First Tranche Final Catch-Up Vesting Date will equal the number of PSUs credited to the Executive under this Agreement with respect to the First Tranche as of the First Tranche Final Catch-Up Vesting Date times the “Payout Percentage” set forth in the TSR Table below, minus the number of PSUs with respect to the First Tranche that vested as of the First Vesting Date and
the First Tranche Initial Catch-Up Vesting Date. 
 iii.    
Second Tranche Catch-Up Vesting Date. If, on the Second Vesting Date, the Second Tranche does not vest at the 150% Payout Percentage, the Second Tranche, adjusted to reflect dividends (if any)
through the Third Performance Period, and as may be necessary to take into account capital adjustments described in Section 5.3 of the Plan, shall vest on the Third Vesting Date (the “Second Tranche
Catch-Up Vesting Date” and, for purposes of this Agreement, the Second Tranche Catch-Up Vesting Date with respect to the Second Tranche constitutes an
“Applicable Vesting Date”) based on the Third Performance Period TSR, and the formula for determining the total number of PSUs in the Second Tranche that may vest and become payable as of the Second
Tranche Catch-Up Vesting Date will equal the number of PSUs credited to the Executive under this Agreement with respect to the Second Tranche as of the Second Tranche
Catch-Up Vesting Date times the “Payout Percentage” set forth in the TSR Table below, minus the number of PSUs with respect to the Second Tranche that vested as of the Second Vesting
Date. 
 e.    TSR Table. The following TSR Table shall be used for purposes of this
Agreement, with straight line interpolation between performance levels: 
  

					
	 Performance Level
	  	 If Total Shareholder

Return CAGR is:
	  	 Then the Payout Percentage
is:

	 Maximum
	  	12.0% or greater	  	150%
	 Target
	  	10.0%	  	100%
	 Threshold
	  	8.0%	  	50%
	 <Threshold
	  	Less than 8.0%	  	0%

  
 3 

 4.    Continuous Employment Requirement. Except as otherwise
determined by the Committee, or except as otherwise provided in Section 5 or Section 6, the PSUs shall vest only if the Executive is continuously employed by the Company from the Grant Date through the Applicable Vesting Date. Except as
otherwise determined by the Committee, or except as otherwise provided in Section 5 or Section 6, any PSUs that have not vested as of the date the Executive’s employment terminates shall be immediately forfeited and the Executive
shall have no further rights under this Agreement following the date as of which the Executive’s employment terminates. 

5.    Death or Disability. In the event the Executive’s employment terminates as a result of the
Executive’s death or Disability prior to the Change in Control Vesting Date, the Applicable Vesting Date for purposes of Section 3 in respect of the First Tranche, Second Tranche and Third Tranche shall be the date on which the
Executive’s employment terminates (the “Death or Disability Vesting Date”). In any such event, the formula for determining the total number of PSUs that may vest and become payable with respect to each of the First
Tranche, Second Tranche and Third Tranche, as applicable, will equal (x) the number of PSUs credited to the Executive under this Agreement with respect to such tranche as of the Death or Disability Vesting Date times the Payout
Percentage set forth in the TSR Table set forth in Section 3 (provided that the average Fair Market Average for the trailing 60-day period ending on the Death or Disability Vesting Date shall be
used to determine the Company’s Fair Market Value as of the Applicable Vesting Date instead of the average Fair Market Value of a share of Stock for the period beginning on May 1 and ending on the Applicable Vesting Date),
multiplied by (y) a fraction, the numerator of which is the number of days from July 1, 2018 through the Death or Disability Vesting Date and the denominator of which is the number of days in the Applicable Performance
Period. 
 6.    Change in Control. Subject to the Executive’s continued employment through the date
such Change in Control occurs, in the event of a Change in Control that occurs prior to the Death or Disability Vesting Date, the Applicable Vesting Date for purposes of Section 3 in respect of the First Tranche, Second Tranche and Third
Tranche shall be the date on which the Change in Control occurs (the “Change in Control Vesting Date”). In any such event, the formula for determining the total number of PSUs that may vest and become payable with respect to
each of the First Tranche, Second Tranche and Third Tranche, as applicable, will equal (x) the number of PSUs credited to the Executive under this Agreement with respect to such tranche as of the Change in Control Vesting Date
times the Payout Percentage set forth in the TSR Table set forth in Section 3 (provided that the Change in Control Price shall be used to determine the Company’s Fair Market Value as of the Applicable Vesting Date instead of
the average Fair Market Value of a share of Stock for the period beginning on May 1 and ending on the Applicable Vesting Date) multiplied by (y) a fraction, the numerator of which is the number of days from July 1, 2018
through the Change in Control Vesting Date and the denominator of which is the number of days in the Applicable Performance Period. 

7.    Expiration. Notwithstanding anything in this Agreement to the contrary, any PSUs that do not vest as
of the earlier to occur of (i) June 30, 2024, (ii) the Death or Disability Vesting Date and (iii) the Change in Control Vesting Date (the “Expiration Date”) shall expire as of the
Expiration Date and the Executive shall have no further rights under this Agreement following the Expiration Date. 

  
 4 

 8.    Payment. As soon as practicable after the date as
of which the applicable tranche vests (but in no event later than March 15 of the year following such date), a number of shares of Stock represented by the PSUs that have become vested with respect to such tranche shall be issued to the
Executive, subject to any withholding for taxes; provided however, that in the event of a Change in Control, PSUs shall either (i) be paid in shares of Stock or (ii) be cancelled in exchange for an immediate payment in
cash of an amount based upon the Change in Control Price, in the discretion of the Committee. If the Executive dies before the payment due hereunder is made, such payment shall be made to the Executive’s beneficiary. 

9.    Shareholder Rights. The Executive shall have no rights as a shareholder with respect to shares
of Stock to which this grant relates. Except as provided in the Plan or in this Agreement, no adjustment shall be made, for dividends or other rights for which the record date occurs while the PSUs are outstanding. 

10.    Amendment of Agreement. The Committee has the right, in its sole discretion, to alter or amend
this Agreement from time to time and in any manner for the purpose of promoting the objectives of the Plan, provided that no such amendment shall in any manner adversely affect the Executive’s rights under this Agreement without the
Executive’s consent. 
 11.    Transferability. The Executive may not, at any time prior to the
Applicable Vesting Date, assign, alienate, pledge, attach, sell or otherwise transfer or encumber the PSUs and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance will be void and unenforceable for all
purposes. 
 12.    Clawback. If the Company is required to restate its financial results due to material
noncompliance with any financial reporting requirement under the securities laws, the Committee may, in its discretion after considering the costs and benefits of doing so, recover all or a portion of any shares of Stock delivered to the Executive
that is related to the PSUs during the three-year period preceding the date on which the Company files the restatement of such financial statement(s) with the Securities and Exchange Commission, to the extent the value of such shares exceeds the
value that the Committee determines would have been payable in respect of the PSUs had the revised financial statement(s) reflected in the restatement been applied to determine such amount or value. In the alternative, subject to applicable law, the
Committee may seek such excess compensation by requiring the Executive to pay such value to the Company; by set-off; by reducing future compensation; or by such other means or combination of means as the
Committee determines to be appropriate. 
 13.    Committee Authority. The Committee shall have
complete discretion in the exercise of its rights, powers, and duties under this Agreement, and as set forth in the Plan. Any interpretation or construction of any provision of, and the determination of any question arising under, this Agreement
shall be made by the Committee in its discretion. This Agreement is intended to grant the PSUs upon the terms and conditions authorized by the Plan, including, without limitation, the clawback provision set forth in section 13.4 of the Plan and the
tax withholding provision set forth in Section 13.3 of the Plan. Any provisions of this Agreement that cannot be so administered, interpreted, or construed shall be disregarded. In the event that any provision of this Agreement is held invalid
or unenforceable, such provision shall be considered separate and apart from the remainder of this Agreement, which shall remain in full force and effect. 

  
 5 

							
	LANDSTAR SYSTEM, INC.    	 		 	THE EXECUTIVE
				
	By:	 	 /s/ David G. Bannister
	 		 	 /s/ James B. Gattoni

	Name:	 	David G. Bannister	 		 	James B. Gattoni
	Title:	 	Chair of the Compensation Committee	 		 	

  
 6Exhibit

Exhibit 10.1

EXECUTION COPY

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED 
RECEIVABLES PURCHASE AGREEMENT

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of April 12, 2018 (this “Amendment”), is entered into by and among the following parties:
(i)    OWENS CORNING RECEIVABLES LLC, a Delaware limited liability company, as seller (the “Seller”);
(ii)    OWENS CORNING SALES, LLC, a Delaware limited liability company (“Owens Corning Sales”), as initial servicer (in such capacity, the “Servicer”);
(iii)    THE BANK OF NOVA SCOTIA, a Canadian chartered bank (“BNS”), as a Related Committed Purchaser, as an LC Bank and as a Purchaser Agent for the Liberty Street Purchaser Group (in such capacity, the “Liberty Street Purchaser Agent”);  
(iv)    PNC BANK, NATIONAL ASSOCIATION (“PNC”), as administrator (in such capacity, the “Administrator”), as a Related Committed Purchaser, as an LC Bank and as a Purchaser Agent for the PNC Purchaser Group (in such capacity, the “PNC Purchaser Agent”);
(v)    LIBERTY STREET FUNDING LLC (“Liberty Street”), as a Conduit Purchaser;
(vi)     CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (“Credit Agricole”), as a Related Committed Purchaser and as a Purchaser Agent for the Atlantic Purchaser Group (in such capacity, the “Atlantic Purchaser Agent”); and
(vii)    ATLANTIC ASSET SECURITIZATION LLC (“Atlantic”), as a Conduit Purchaser.
R E C I T A L S
A.Each of the parties hereto are parties to that certain Second Amended and Restated Receivables Purchase Agreement, dated as of May 5, 2017 (as amended, supplemented or otherwise modified prior to the date hereof, the “Agreement”).
B.Concurrently herewith, the Seller, the Servicer, each Purchaser Agent, each LC Bank and the Administrator are entering into that certain Sixth Amended and Restated Fee Letter (the “A&R Fee Letter”), dated as of the date hereof.
C.The parties hereto desire to amend the Agreement as hereafter set forth.

NOW THEREFORE, in consideration of the premises and other material covenants contained herein, the parties hereto agree as follows:
SECTION 1.Certain Defined Terms.  Capitalized terms which are used herein without definition and that are defined in the Agreement shall have the same meanings herein as in the Agreement.

SECTION 2.Amendments to the Agreement.  Effective as of the Effective Date, the Agreement is hereby amended as follows:

(a)The definition of “Purchase Limit” set forth in Exhibit I to the Agreement is replaced in its entirety with the following:
“Purchase Limit” means $280,000,000, as such amount may be reduced or increased pursuant to the terms hereof.  References to the unused portion of the Purchase Limit shall mean, at any time, the Purchase Limit minus the Exposure.
(b)Schedule IV to the Agreement is replaced in its entirety with Schedule IV attached hereto.

SECTION 3.Effect of Amendment; Ratification.  All provisions of the Agreement and each other Transaction Document, as amended by this Amendment, remain in full force and effect.  After this Amendment becomes effective, all references in the Agreement or any other Transaction Document to “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement or such other Transaction Document shall be deemed to be references to the Agreement or such other Transaction Document as amended by this Amendment.  This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Agreement or any other Transaction Document other than as expressly set forth herein is hereby ratified and confirmed.

SECTION 4.Effectiveness of this Amendment.  This Amendment shall become effective as of the date hereof (the “Effective Date”) upon receipt by the Administrator of each of the following:

(a)duly executed counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the parties hereto;
(b)duly executed counterparts of the A&R Fee Letter (whether by facsimile or otherwise) executed by each of the parties thereto;
(c)certified copies of: (i) the resolutions or unanimous written consents of the board of directors (or the equivalent thereof) of the Seller authorizing the execution, delivery and performance by the Seller of this Amendment, the A&R Fee Letter and the other Transaction Documents to which it is a party; (ii) all documents evidencing other necessary corporate or organizational action and governmental approvals, if any, with respect to this Amendment, the A&R Fee Letter and the other Transaction Documents and (iii) the certificate of formation and limited liability company agreement of the Seller;
(d)a certificate of the Secretary or Assistant Secretary of the Seller, the Servicer and the Performance Guarantor certifying the names and true signatures of its officers who are authorized to sign this Amendment, the A&R Fee Letter and the other Transaction Documents to which it is a party; 
(e)a favorable opinion, addressed to each Rating Agency, the Administrator, each Purchaser Agent and each Purchaser, in form and substance reasonably satisfactory to the Administrator, from Jones Day, counsel for the Seller, the Servicer and the Performance Guarantor, and internal counsel for the Seller, the Servicer and the Performance Guarantor, covering such matters as the Administrator may reasonably request, including, without limitation, certain organizational, no-conflict and New York enforceability matters; and
(f)evidence of payment by the Seller of the “Amendment Fee” (under and as defined in the A&R Fee Letter) in accordance with the terms of the A&R Fee Letter.

SECTION 5.Representations and Warranties.  Each of Owens Corning Sales and the Seller hereby represents and warrants to the Administrator, each Purchaser Agent and each Purchaser as follows:

(a)Representations and Warranties.  Each of the representations and warranties made by it under the Agreement and each of the Transaction Documents to which it is a party are true and correct in all material respects as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date).
(b)Enforceability.  The execution and delivery by such Person of this Amendment, and the performance of its obligations under this Amendment and the Agreement, as amended hereby, are within its organizational powers and have been duly authorized by all necessary organizational action on its parts.  This Amendment and the Agreement, as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with its respective terms.
(c)No Default.  Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Termination Event, Unmatured Termination Event or Servicer Default exists or shall exist.
(d)Further Assurances.  Such Person agrees to provide (or to cause to be provided) to the Administrator a copy of all agreements, documents, certificates and instruments, if any, relating to the subject matter of this Amendment, as the Administrator may reasonably request.

SECTION 6.Miscellaneous.

(a)Counterparts.  This Amendment may be executed in any number of counterparts, and by the different parties hereto on the same or separate counterparts, each of which when so executed and delivered shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement.  Delivery by facsimile or email of an executed signature page of this Amendment shall be effective as delivery of an original executed counterpart hereof.
(b)Section Headings.  The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.
(c)Fees and Expenses.  The Seller unconditionally agrees to pay within 10 Business Days of any demand therefor all reasonable and documented costs and expenses incurred by the Administrator, any Purchaser Agent and/or any Purchaser in connection with the preparation, execution and delivery of this Amendment and the transactions contemplated hereby, including, without limitation, reasonable fees, costs and expenses of legal counsel for the Administrator, the Purchaser Agents and the Purchasers.
(d)Severability.  Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.
(e)Transaction Document.  This Amendment shall constitute a Transaction Document.
(f)GOVERNING LAW.  THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
(g)JURISDICTION.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK; AND, BY EXECUTION AND DELIVERY OF THIS AMENDMENT, EACH OF THE PARTIES HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE 

JURISDICTION OF THOSE COURTS.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY LAW, ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AMENDMENT OR ANY DOCUMENT RELATED HERETO.  EACH OF THE PARTIES HERETO WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH SERVICE MAY BE MADE BY ANY OTHER MEANS PERMITTED BY NEW YORK LAW.

SECTION 7.Reaffirmation of Performance Guaranty.  After giving effect to this Amendment and the transactions contemplated by this Amendment, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.

(signatures begin on the next page)

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

OWENS CORNING SALES, LLC,
as Servicer

By:  /s/Brad Lazorka
Name:  Brad Lazorka
Title:  Treasurer

OWENS CORNING RECEIVABLES LLC,
as Seller

By:  /s/Brad Lazorka
Name:  Brad Lazorka
Title:  Treasurer

THE BANK OF NOVA SCOTIA,
as a Related Committed Purchaser
By:  /s/Paul Czach
Name:  Paul Czach
Title:  Managing Director

THE BANK OF NOVA SCOTIA,
as an LC Bank
By:  /s/Paul Czach
Name:  Paul Czach
Title:  Managing Director

THE BANK OF NOVA SCOTIA,
as a Purchaser Agent
By:  /s/Paul Czach
Name:  Paul Czach
Title:  Managing Director

LIBERTY STREET FUNDING LLC, 
as a Conduit Purchaser
By:  /s/Jill A. Russo
Name:  Jill A. Russo
Title: Vice President

PNC BANK, NATIONAL ASSOCIATION, 
as a Related Committed Purchaser 

By:  /s/Michael Brown
Name: Michael Brown  
Title:  Senior Vice President

PNC BANK, NATIONAL ASSOCIATION,
as an LC Bank

By:  /s/Michael Brown
Name: Michael Brown  
Title:  Senior Vice President

PNC BANK, NATIONAL ASSOCIATION,
as a Purchaser Agent

By:  /s/Michael Brown
Name: Michael Brown  
Title:  Senior Vice President

PNC BANK, NATIONAL ASSOCIATION,
as Administrator

By:  /s/Michael Brown
Name: Michael Brown  
Title:  Senior Vice President

ATLANTIC ASSET SECURITIZATION LLC,
as a Conduit Purchaser

By:/s/ Sam Pilcer
Name: Sam Pilcer
Title: Managing Director

By:/s/ Richard McBride
Name:  Richard McBride  
Title: Director

CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK,
as a Related Committed Purchaser

By:/s/ Sam Pilcer
Name: Sam Pilcer
Title: Managing Director

By:/s/ Richard McBride
Name:  Richard McBride  
Title: Director

CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK,
as a Purchaser Agent

By:/s/ Sam Pilcer
Name: Sam Pilcer
Title: Managing Director

By:/s/ Richard McBride
Name:  Richard McBride  
Title: Director

ACKNOWLEDGED AND AGREED TO:

OWENS CORNING,
as Performance Guarantor

By:/s/ Brad Lazorka
Name:    Brad Lazorka
Title:  Vice President and Treasurer

SCHEDULE IV
GROUP COMMITMENTS
	
					
	Purchaser Group
	 
	 
	 

	Name
	Capacity
	Commitment
	Group Commitment

	Liberty Street Purchaser Group
	Purchaser Group
	N/A
	$112,000,000

	 
	Liberty Street
	Conduit Purchaser
	N/A
	 

	 
	BNS
	Related Committed Purchaser
	$112,000,000
	 

	 
	BNS
	LC Bank
	$80,000,000
	 

	 
	BNS
	Purchaser Agent
	N/A
	 

	PNC Purchaser Group
	Purchaser Group
	N/A
	$112,000,000

	 
	PNC
	Related Committed Purchaser
	$112,000,000
	 

	 
	PNC
	LC Bank
	$80,000,000
	 

	 
	PNC
	Purchaser Agent
	N/A
	 

	Atlantic Purchaser Group
	Purchaser Group
	N/A
	$56,000,000

	 
	Atlantic
	Conduit Purchaser
	N/A
	 

	 
	Credit Agricole
	Related Committed Purchaser
	$56,000,000
	 

	 
	Credit Agricole
	Purchaser Agent
	N/A

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