Document:

Exhibit

2020 Management Cash Incentive Plan

    

2020 Management Cash Incentive Plan

Introduction and Objectives

Northfield Bancorp, Inc.’s (A Delaware Corporation) “Northfield” or the “Company” 2020 Management Cash Incentive Plan (the “MIP” or the “Plan”) is designed to retain, motivate, recognize, and reward designated management team members, within appropriate risk management objectives, for their collective contributions to Northfield Bancorp, Inc. and its subsidiaries ( including Northfield Bank, referred to as the “Company” or the “Bank”).  The Plan focuses on measures that are critical to the Company’s longer-term growth and profitability.  The MIP serves as a critical component of a competitive total compensation package that enables the Company to attract and retain talent needed to drive the Company’s future success.  This MIP is governed by all terms and conditions of the Northfield Management Cash Incentive Plan approved by the Company’s stockholders on May 28, 2014 (the “Governing Plan”), which shall be the prevailing document if the terms and conditions detailed below are unclear or in contradiction to such plan.

Objectives of the Plan include:

		
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	Align management compensation with Company performance.

		
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	Provide clear focus on key strategic business objectives.

		
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	Position the Company’s total cash compensation to be competitive with market. 

		
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	Enable the Company to attract, retain and develop the talent needed to drive success.

		
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	Motivate and reward management for achieving/exceeding performance goals.

		
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	Encourage teamwork across the Company’s operating groups.

		
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	Balance performance goals and incentives with appropriate risk management objectives.

Eligibility/Participation

		
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	Eligibility will be limited to key members of management and key employees.  Participants will be nominated by management and approved by the Compensation Committee.  Unless specifically approved by the Compensation Committee, the Offices of the Chief Credit Officer, Chief Risk Officer, Chief Internal Auditor, Bank Secrecy Act Officer, and the Compliance Officer (collectively, Risk Management Officers), are not eligible to participate in the Corporate performance incentive awards.  Each of these positions reports directly to a committee of the Board of Directors that is responsible for determining their compensation, including cash incentive compensation.  Incentive awards will be based on individual goals for these employees with goals and final incentive awards to be approved by the Board committees that the individual reports to.

New employees must be hired by July 1 to participate in that year’s incentive.  Incentive awards for employees hired between January 1 and July 1 will be pro-rated based on the employee’s date of hire (i.e., for these purposes, “base salary” shall mean the base salary in effect on the last day of the performance period).  Participants must maintain a satisfactory level of performance to be eligible for an incentive award.
		
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	Except as set forth below under “Death or Disability,” participants must be an active employee as of the award payout date to receive an award.

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2020 Management Cash Incentive Plan

Performance Period
The performance period and plan operate on a calendar year basis (January 1, 2020– December 31, 2020).   

Performance Gate/Trigger
In order for the incentive plan to activate, Northfield must achieve at least 80% of budgeted net income.  If the Company does not achieve this level of performance, the MIP will not fund awards (corporate or individual) for participants that year.  The Committee, and the respective Board Committees as it relates to Risk Management Officers, will retain discretion, at all times, to recommend individual discretionary bonuses.
Incentive Award Opportunity
Each participant will have a target cash incentive opportunity that is expressed as a percentage of his or her base salary (i.e., base salary shall mean the base salary in effect on the last day of the performance period).
Cash incentive awards are based, in part, on the Company’s philosophy to target total cash compensation at approximately the 50th percentile of market for executive management, with individual adjustments made for each participant’s specific experience, responsibilities and performance.  The 2020 incentive cash targets consider market practice and the Company’s current base salary levels.  For 2020, participants, as detailed by title below, will have an opportunity to earn a target award as a percentage of base salary as defined above, for meeting defined goals.  The Actual payouts can range from 0% (for not meeting any performance goals) to up to 150% of target for exceeding all performance goals.

Achieving performance goals will generally result in a full award at target.  Actual payouts will vary above and below the target incentive to reflect actual performance relative to the goals and weights.  The Compensation Committee retains the discretion to determine awards relative to goals and may consider other factors in making the award (e.g. extraordinary events).
The total incentive opportunity and range is summarized below.  The ranges of opportunity below, and any weighting, will generally be applied to individual incentive compensation goals as determined by the Compensation Committee.  These are subject to change based on market practice, internal Company practices, and compensation philosophy.

	
					
	 
	Annual Incentive as a % of Base Salary
(in future years these targets may change and be different by tier)

	Positions
	Below Threshold
	Threshold Performance
	Target Performance
	Stretch
Performance

	Pres./CEO
	0%
	20-25%
	40-50%
	60-75%

	EVP
	0%
	15-20%
	30-40%
	45-60%

3

2020 Management Cash Incentive Plan

Incentive Plan Measures

For 2020, the Compensation Committee will determine the Corporate performance goal(s) in conformity with the Governing Plan.  A significant portion of all participants’ incentive will be based on our overall corporate performance.  This approach supports our desire to foster a collaborative team-oriented culture among our senior leadership team.  The Compensation Committee, at its sole discretion, may determine to exclude from actual 2020 performance results, items that are considered non-recurring in nature, and/or not suitable for consideration in measuring financial performance.  In addition to corporate performance, individual/division performance goals will also be considered.  By considering multiple performance goals and perspectives, our Plan supports our goal to provide a balanced and reasonable approach to risk management.

Below is a summary of the weighting of awards based on Corporate and Individual/Division Goals:    

	
			
	Role
	Corporate Performance
	Individual/Division Performance

	Pres./CEO
	0% - 100%
	0% - 100%

	EVP
	0% - 100%
	0% - 100%

Goal Setting

The Corporate Performance goal(s) will be recommended by the Compensation Committee as part of the Board’s annual business planning process, and approved by the Board of Directors.  The Compensation Committee will approve the performance range and weights associated with the Corporate Performance goals. 

The Compensation Committee, at its discretion, may define goals that have a defined threshold, target and stretch performance and payout range.  The relationship between performance goals and payout ranges will be determined by the Compensation Committee.  Once threshold performance is achieved, the award will increase incrementally.  Actual payouts between threshold, target, and stretch will be prorated between levels to reward incremental performance

Individual/Division goals will be developed and recommended by management and approved by the Compensation Committee at the beginning of the year.   As it relates to Risk Management Officers, the respective Board committee will develop and approve individual/division goals at the beginning of the year.  Generally, Individual goals should be limited to no more than three goals that reflect critical financial and strategic goals.  Each individual goal is at a target payout.  However, where possible, individual goals should also define a threshold and stretch level which will correspond to the appropriate payout in the table immediately above.  Such goals will help clarify potential pay-performance relationship.  In recognition that some individual goals may not be quantitative, the Compensation Committee and the respective Board Committees as it relates to Risk Management Officers, retains the discretion to determine payouts in a manner that appropriately reflects performance.  

4

2020 Management Cash Incentive Plan

Award Payouts and Discretion of the Compensation Committee

Payouts relative to the target will be recommended by management (except for the CEO), certified by the Internal Audit Function (or other function as determined appropriate by the Compensation Committee) and approved by the Compensation Committee and the respective Board Committees as it relates to Risk Management Officers, and ratified by the Board of Directors.  In the case of the CEO, the payout will be determined by the Compensation Committee and ratified by the Board of Directors.

Payouts will be made in cash within a reasonable time period after the Company’s independent registered public accounting firm has made its final report to the Audit Committee on the Company’s 2020 consolidated financial statements.  Generally, payouts will occur within two and a half months following the close of the fiscal year.  Awards are calculated based on actual performance relative to target.  Payouts will be based on percentage of a participant’s base salary in effect as of the last business day of the performance period.  This will allow for ease of calculation of incentives to reflect participants who work a partial year or part time hours.

All award payouts under the Plan are subject to the discretion of the Compensation Committee and the respective Board Committees as it relates to Risk Management Officers.  In determining an award level (both corporate awards and individual awards) consideration may be given to the overall performance of the Company and each individual’s performance and may include, but are not limited to, consideration of audit and regulatory findings, internal control assessments and the amount and direction of risk being assumed by the Company.  The Committee will take into consideration extraordinary, unusual, and/or nonrecurring items of gain or loss including: (ii) gains or losses on the disposition of a business; (iii) changes in tax or accounting principles, regulations or laws; or (iv) expenses incurred in connection with a merger, branch acquisition or similar transaction, in determining the extent to which performance has been achieved.  The Committee has the authority to extrapolate between the threshold, target and maximum levels achieved.  The Compensation Committee may, at its sole discretion, consider the effect of “passed” audit adjustments proposed by the Company’s independent registered public accounting firm in determining the achievement of the Corporate or Individual goals established under the Plan.
PLAN TERMS AND CONDITIONS 
Plan Authorization 
The Plan is authorized by the Board of Directors of the Company and administered by the Compensation Committee. 
Program Changes or Discontinuance
The Company has developed this Plan based on current objectives and business conditions.  The Plan was developed based on existing business, market and economic conditions; current services; and staff assignments.  If substantial changes occur that affect these conditions, services, assignments, or forecasts, the Company may add to, amend, modify, or discontinue any of the terms or conditions of the Plan at any time.
Compensation Committee Discretion
The Compensation Committee may, at its sole discretion, waive, change, or amend the Plan as it deems appropriate.

5

2020 Management Cash Incentive Plan

The Committee and the respective Board Committees, as it relates to Risk Management Officers may, at its or their sole discretion, increase or decrease an award based upon its consideration of a Plan participant’s performance or achievements. 
Termination of Employment 
If a Plan participant leaves or is terminated by the Company before awards are paid, no incentive award will be paid.  Participants must be an active employee of the Company on the date the incentive is paid to receive an award.  (See exceptions for death and disability below.)  
Disability or Death 
If a participant is disabled by an accident or illness, his/her bonus award for the Plan period will be prorated so that the award is based on the period of active employment only (i.e. the award will be reduced by the period of time of disability).  
In the event of death, the Company will pay to the participant’s estate the pro rata portion of the award that had been earned by the participant as of the date of death.
No award will be earned on a pro-rata basis for disability or death if such an event occurs within six months from the beginning of the Plan year.
Payments made in the event of death or disability will be made at the same time payment is made to active employees under the Plan.
Ethics and Interpretation
If there is any ambiguity as to the meaning of any terms or provisions of this Plan or any questions as to the correct interpretation of any information contained therein, the Company’s interpretation expressed by the Compensation Committee will be final and binding.
The altering, inflating, and/or inappropriate manipulation of performance/financial results or any other infraction of recognized ethical business standards, will subject the employee to disciplinary action up to and including termination of employment.  In addition, any incentive compensation as provided by the Plan to which the employee would otherwise be entitled will be revoked.
Recoupment of Awards

Participants of this Plan agree that the Company has the right to recoup or “clawback” awards paid under this Plan if the Compensation Committee concludes that such awards were based on information that was later found to be materially incorrect, including awards that were determined, in whole or in part, on financial statement information that is subsequently restated.  This includes any error that is material to previously issued financial statements that results in notification that such financial statements cannot be relied upon.  Additionally, if the Committee determines, upon review of the facts and circumstances, that an executive officer conducted his or herself in violation of the terms of the executive officer’s Employment Agreement, the Committee may determine that incentive compensation awards may or may not be revoked.  Participants of the Plan agree that such recoupment would be made in accordance with prevailing laws and regulations.  The Company also has the right to revise its clawback requirements, or policies subject to this Plan, if changes in laws and regulations require (or permit) the Company to do so.  

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2020 Management Cash Incentive Plan

Miscellaneous 
The Plan will not be deemed to give any participant the right to be retained in the employ of the Company nor will the Plan interfere with the right of the Company to discharge any participant at any time.  
The Compensation Committee will determine on at least an annual basis, those employees of the Company and its consolidated subsidiaries that will be eligible to participate in the Plan.
In the absence of an authorized, written employment contract, the relationship between employees and the Company is one of at-will employment.  The Plan does not alter the relationship.  The Plan will not supersede any specific employment contract obligations the Company may have with a Plan participant.
This Plan and the transactions and payments hereunder shall, in all respect, be governed by, and construed and enforced in accordance with applicable governmental laws and regulations.
Each provision in this Plan is severable, and if any provision is held to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not, in any way, be affected or impaired thereby.

* * * * *

7Exhibit

SECOND AMENDMENT TO
CREDIT AGREEMENT

This SECOND AMENDMENT TO CREDIT AGREEMENT (this "Agreement") is made as of December 18, 2019 (the "Second Amendment Effective Date") by and among LUBY’S, INC., a Delaware corporation (the "Borrower"), the guarantors party hereto (the "Guarantors" and, together with the Borrower, the "Credit Parties"), each financial institution party hereto as a lender (each individually, a "Lender" and, collectively, the "Lenders"), and MSD PCOF PARTNERS VI, LLC, in its capacity as administrative agent for the Lenders (in such capacity, the "Administrative Agent").  Unless otherwise provided herein, capitalized terms used but not defined in this Agreement shall have the meanings that are set forth in the Amended Credit Agreement (as defined below).
RECITALS
A.The Borrower, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of December 13, 2018 (the "Credit Agreement" and, as amended by the First Amendment (as defined below) and this Agreement, the "Amended Credit Agreement").

B.The Borrower, the Lenders and the Administrative Agent are parties to that certain First Amendment to Credit Agreement dated July 31, 2019 (the "First Amendment").

C.The Borrower has provided notice to the Administrative Agent that it intends to prepay a portion of the Loans in connection with the sale of certain of the Mortgaged Property, commonly known as (a) 5200 Brodie Lane, Austin, Texas, being more particularly described on Appendix A attached hereto and (b) 2201 West University Drive, Edinburg, Texas, being more particularly described on Appendix B attached hereto.

D.Subject to the terms and conditions set forth herein, the Lenders are willing to amend Section 4.4(b)(vi)(B) of the Credit Agreement with respect to the treatment of the proceeds of the Asset Dispositions described in Recital C.  

NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Amendments.

1.The Credit Agreement is hereby amended to include Appendix A and Appendix B attached hereto.

2.Section 1.1 of the Credit Agreement is hereby amended to include the following defined terms:

"Appendix A Mortgaged Property" means certain of the Mortgaged Property, commonly known as 5200 Brodie Lane, Austin, Travis County, Texas, being more particularly described on Appendix A.
"Appendix B Mortgaged Property" means certain of the Mortgaged Property, commonly known as 2201 West University Drive, Edinburg, Texas, being more particularly described on Appendix B attached hereto.
3.Section 4.4(b)(vi)(B) of the Credit Agreement is hereby amended and restated in its entirety as follows:

(B) Upon the occurrence of any event triggering the prepayment requirement under clause (iii) above, the Borrower shall promptly deliver a Notice of 

Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section 4.4(b)(vi)(B) shall be applied as follows: first, to deposit into the Interest Reserve Account an amount such that the amount therein equals the Interest Reserve Account Minimum Amount; provided that, for purposes of this clause first, the Interest Reserve Account Minimum Amount shall be calculated on a pro forma basis after giving effect to the prepayment of the Loans that will occur pursuant to clause second below with respect to the Asset Disposition triggering the current prepayment, second, (a) in the case of any Asset Disposition involving a sale of the Appendix A Mortgaged Property, (x) with respect to 25% of the remaining Net Cash Proceeds, as set forth in Section 4.4(b)(vi)(A) and (y) with respect to 75% of the remaining Net Cash Proceeds, as retained by the Borrower, (b) in the case of any Asset Disposition involving a sale of the Appendix B Mortgaged Property, as retained by the Borrower, and (c) in the case of any other Asset Disposition, (x) with respect to 80% of the remaining Net Cash Proceeds, as set forth in Section 4.4(b)(vi)(A) and (y) with respect to 20% of the remaining Net Cash Proceeds, at the Borrower’s option, either as retained by the Borrower or as applied in the manner set forth in Section 4.4(b)(vi)(A).

2.    Conditions Precedent.  This Agreement shall be effective as of the date Second Amendment Effective Date when each of the following conditions shall have been satisfied or waived:

(a)The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include telecopy or other similar method of electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

(b)The Borrower shall have paid (or shall pay concurrently from any amounts funded on the Second Amendment Effective Date) all fees and expenses due and payable on or prior to the Second Amendment Effective Date under the Loan Documents and this Agreement, including the out-of-pocket reasonable fees and expenses of the Administrative Agent’s attorneys with respect to the preparation, negotiation and execution of the Loan Documents and this Agreement.

(c)All necessary corporate or organizational actions shall have been taken by each Credit Party to authorize the execution, delivery and performance of this Agreement.

(d)The Administrative Agent shall have received a certificate from a Responsible Officer of the Borrower dated as of the Second Amendment Effective Date certifying as to compliance with the matters described under Sections 2(e), 2(f) and 2(g) of this Agreement. 

(e)Between the Closing Date and the date hereof, no event has occurred or condition arisen, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

(f)On the Second Amendment Effective Date, both immediately before and immediately after giving effect to the transactions occurring on the date hereof, the representations and warranties of the Credit Parties set forth in the Amended Credit Agreement and in the other Loan Documents shall be true, correct and complete in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true, correct and complete in all respects, on and as of the Second Amendment Effective Date with the same effect as if made on and as of such date (except for any such representation and warranty that by its terms is made only as of 

an earlier date, which representation and warranty shall have been true, correct and complete in all material respects as of such earlier date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall have been true, correct and complete in all respects as of such earlier date) and except that the representations and warranties set forth in Section 7.15 of the Amended Credit Agreement shall be deemed to refer to the most recent financial statements delivered pursuant to Section 8.1 of the Amended Credit Agreement.

(g)On the Second Amendment Effective Date, both immediately before and immediately after giving effect to the transactions occurring on the date hereof, no Default or Event of Default shall have occurred or be continuing, and there must not be any such Default or Event of Default occurring as a result of the transactions occurring on the Second Amendment Effective Date.

Each Credit Party shall be deemed to represent and warrant to the Administrative Agent and Lenders that the foregoing conditions in this Section 2 have been satisfied (unless otherwise waived by the Administrative Agent) upon release of its signature to this Agreement; provided that, each Credit Party may assume in making such representation and warranty that any condition that is to be consented to, satisfactory, approved or accepted by the Administrative Agent or the Lenders may be assumed by each Credit Party to be consented to, satisfactory, approved or accepted, as applicable.
3.    Representations and Warranties.  Each Credit Party hereby represents and warrants to the Administrative Agent and each Lender that, as of the Second Amendment Effective Date, both immediately before and immediately after giving effect to this Agreement and the transactions contemplated hereby:
a.The representations and warranties of the Credit Parties set forth in the Amended Credit Agreement and in the other Loan Documents are true, correct and complete in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true, correct and complete in all respects, on and as of the Second Amendment Effective Date with the same effect as if made on and as of such date (except for any such representation and warranty that by its terms is made only as of an earlier date, which representation and warranty shall have been true, correct and complete in all material respects as of such earlier date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall have been true, correct and complete in all respects as of such earlier date) and except that the representations and warranties set forth in Section 7.15 of the Amended Credit Agreement shall be deemed to refer to the most recent financial statements delivered pursuant to Section 8.1 of the Amended Credit Agreement.

b.No Default or Event of Default has occurred or is continuing, and no such Default or Event of Default would exist as a result of the transactions occurring on the Second Amendment Effective Date.

c.Each Credit Party and each Subsidiary thereof has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance of this Agreement and each of the other Loan Documents to which it is a party in accordance with their respective terms.  This Agreement and each of the other Loan Documents have been duly executed and delivered by the duly authorized officers of each Credit Party and each Subsidiary thereof that is a party thereto, and each such document constitutes the legal, valid and binding obligation of each Credit Party and each Subsidiary thereof that is a party thereto, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal Debtor Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.

d.The execution, delivery and performance by each Credit Party and each Subsidiary thereof of this Agreement and the other Loan Documents to which each such Person is a party, in accordance with their respective terms, and the transactions contemplated hereby or thereby do not and will not, by the passage of time, the giving of notice or otherwise, (a) require any Governmental Approval or violate any material 

Applicable Law relating to any Credit Party or any Subsidiary thereof, for which the failure to obtain or violation of which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (b) conflict with, result in a breach of or constitute a default under the articles of incorporation, bylaws or other organizational documents of any Credit Party or any Subsidiary thereof, (c) conflict with, result in a breach of or constitute a default under any indenture, agreement, Lease or other instrument to which such Person is a party or by which any of its properties may be bound or any Governmental Approval relating to such Person, which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (d) result in or require the creation or imposition of any Lien upon or with respect to any property now owned or hereafter acquired by such Person other than Permitted Liens or (e) require any consent or authorization of, filing with, or other act in respect of, an arbitrator or Governmental Authority and no consent of any other Person is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement other than (i) consents, authorizations, filings or other acts or consents for which the failure to obtain or make would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (ii) consents or filings under the UCC, (iii) filings with the United States Copyright Office and/or the United States Patent and Trademark Office, (iv) Mortgage filings with the applicable county recording office or register of deeds and (v) such as have been made or obtained and are in full force and effect.

4.    Miscellaneous.
a.Continuing Effect of Credit Agreement; Conflicts.  Except as expressly modified pursuant hereto, no other changes or modifications to the Credit Agreement or the other Loan Documents are intended or implied by this Agreement and in all other respects the Credit Agreement and the other Loan Documents hereby are ratified and confirmed by all parties hereto as of the Second Amendment Effective Date.  To the extent of conflict between the terms of this Agreement, the Amended Credit Agreement and the other Loan Documents, the terms of this Agreement shall govern and control.

b.Costs and Expenses.  The Borrower acknowledges that Section 12.3(a) of the Amended Credit Agreement applies to this Agreement and the transactions, agreements and documents contemplated hereunder.

c.Further Assurances.  At the Borrower’s expense, the parties hereto shall execute and deliver such additional documents and take such further action as may be reasonably requested by any other party hereto to effectuate the provisions and purposes of this Agreement.

d.Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns.

e.Survival of Representations, Warranties and Covenants.  All representations, warranties and covenants of each Credit Party made in this Agreement or any other document furnished in connection with this Agreement shall survive the execution and delivery of this Agreement, and no investigation by the Administrative Agent or any Lender, or any closing, shall affect the representations and warranties or the right of the Administrative Agent and Lenders to rely upon them.

f.Severability.  Any provision of this Agreement held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Agreement.

g.Relationship.  Each Credit Party agrees that the relationship between the Administrative Agent, on the one hand, and each Credit Party, on the other hand, and between each Lender, on the one hand, and each Credit Party, on the other hand, is that of creditor and debtor and not that of partners or joint venturers.  Neither this Agreement nor any of the other Loan Documents constitute a partnership agreement, or any other association between the Administrative Agent, on the one hand, and each Credit Party, on the other hand, and between each Lender, on the one hand, and each Credit Party, on the other hand.  Each Credit Party 

acknowledges that the Administrative Agent and each Lender has acted at all times only as a creditor to each Credit Party within the normal and usual scope of the activities normally undertaken by a creditor and in no event has the Administrative Agent or any Lender attempted to exercise any control over the Credit Party or their respective businesses or affairs.  Each Credit Party further acknowledges that the Administrative Agent and each Lender has not taken or failed to take any action under or in connection with its respective rights under the Credit Agreement and the Loan Documents that in any way or to any extent has interfered with or adversely affects any ownership of Collateral by each Credit Party.

h.Acknowledgement and Reaffirmation.  Except as expressly set forth herein, (i) this Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent, in each case under the Amended Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement or any other provision of either such agreement or any other Loan Document.  Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Amended Credit Agreement or any other Loan Document is hereby ratified and re‐affirmed in all respects and shall continue in full force and effect.  Each Credit Party hereby expressly (a) acknowledges the terms of this Agreement, (b) ratifies and reaffirms all of their respective Obligations and each of their other obligations under the Credit Agreement and the other Loan Documents to which it is a party, as modified hereby, (c) acknowledges, renews and extends its continued liability under the Credit Agreement and the other Loan Documents to which it is a party, as modified hereby, (d) ratifies and reaffirms all Liens granted by it pursuant to the Loan Documents to secure the Obligations and (e) reaffirms that its guarantee under each Guaranty Agreement, if applicable, and the other Loan Documents to which it is a party remains in full force and effect with respect to the Obligations.  This Agreement shall constitute a Loan Document for purposes of the Amended Credit Agreement and from and after the Second Amendment Effective Date, all references to the "Credit Agreement" in any Loan Document and all references in the Amended Credit Agreement to "this Agreement", "hereunder", "hereof" or words of like import referring to the Credit Agreement, shall, unless expressly provided otherwise, refer to the Amended Credit Agreement.  Each Credit Party hereby consents to this Agreement and confirms that all obligations of each Credit Party under the Loan Documents to which such Credit Party is a party shall continue to apply to the Amended Credit Agreement.

i.No Action, Claims, Etc.  As of the date hereof, each Credit Party hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or any of the Administrative Agent’s or any Lender’s respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement prior to the date hereof.

j.Counterparts.  This Agreement may be executed in any number of counterparts, but all of such counterparts shall together constitute but one and the same agreement.  Receipt by telecopy, facsimile or email transmission of any executed signature page to this Agreement shall constitute effective delivery of such signature page.

k.Interpretation.  Wherever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

l.Headings.  The headings of this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

m.Entirety.  This Agreement and the other Loan Documents embody the entire agreement 

between the parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof.  This Agreement and the other Loan Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties.

n.GOVERNING LAW, JURISDICTION AND JURY TRIAL WAIVER.  THIS AGREEMENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING GOVERNING LAW, JURISDICTION AND JURY TRIAL WAIVER SET FORTH IN SECTIONS 12.5 and 12.6 OF THE AMENDED CREDIT AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, the undersigned, by their duly authorized officers, have executed this Second Amendment to Credit Agreement as of the day and year first above written.
		
	BORROWER:
	LUBY’S, INC.,

a Delaware corporation

By:  /s/ Scott Gray
Name: Scott Gray
Title: Chief Financial Officer

[Signature Pages Continue]

ADMINISTRATIVE
		
	AGENT AND LENDER:
	MSD PCOF PARTNERS VI, LLC,

a Delaware limited liability company,
as the Administrative Agent and Lender
By:  /s/ Marcello Liguori                        
Name: Marcello Liguori
Title: Vice President

SUBSIDIARY GUARANTORS:    LUBY'S FUDDRUCKERS RESTAURANTS, LLC

By:      /s/ Scott Gray                    
Scott Gray
Chief Financial Officer

LUBY’S BEV I, LLC
LUBY’S BEV II, LLC

Each by:   /s/ Benjamin Coutee                    
Benjamin Coutee
Manager

LUBY’S BEVCO, INC.

By:      /s/ Scott Gray                        
Scott Gray
Chief Financial Officer

FUDDRUCKERS OF ANNAPOLIS, LLC
FUDDRUCKERS OF BRANDYWINE, LLC

Each by Luby’s Bev II, LLC, as its Managing Member  

By:       /s/ Benjamin Coutee                            
Benjamin Coutee
Manager

PARADISE CHEESEBURGERS, LLC

By: Luby’s Fuddruckers Restaurants, LLC, as its Manager

By:      /s/ Scott Gray                        
Scott Gray
Chief Financial Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]