Document:

EX-10.1

 Exhibit 10.1         

RTI International Metals, Inc. 
 Board of Directors Compensation Program 
 Effective April 26, 2012 

 

	 	•	 	 Target annual compensation is $150,000 for non-employee directors other than the Chairman and $240,000 for the non-employee Chairman and shall be paid
50% in restricted stock and 50% in cash. 

  

	 	•	 	 In addition to the target compensation set forth above, the following annual cash premiums will be paid for chairing the following standing committees:

  

	 	¡
 	 	 Audit Committee: $20,000 

	 	¡
 	 	 Compensation Committee: $20,000 

	 	¡
 	 	 Nominating/Corporate Governance Committee: $10,000 

  

	 	•	 	 There will be no per meeting fees paid for regular board or committee meetings. However, meeting fees for extraordinarily frequent meetings of the
Board or Committees (whether standing or ad hoc) required to consider transactions or other special circumstances, as determined by the Chairman, in the amount of $1,000 per meeting may be awarded. The cash portion of annual target compensation,
committee chair premiums, and any special meeting fees are payable in cash quarterly. 

  

	 	•	 	 Restricted stock will be awarded at beginning of a plan year (commencing with annual shareholders’ meeting) and vest at end of plan year. Partial
vesting for directors who leave before their term is up will be at discretion of the Compensation Committee upon recommendation of the Nominating/Corporate Governance Committee. 

 

	 	•	 	 Restricted stock will be held in custody by RTI until restriction is terminated and then a certificate, free of all restrictions, shall be issued in
the director’s name (or a trust as he or she shall designate). Directors shall be entitled to vote the shares of restricted stock upon grant at the beginning of the plan year. 

Adopted by the Board of Directors: April 26, 2012 
 Stock Ownership Guidelines 
 Each non-employee director is expected to own, at a minimum, shares
of RTI common stock equal to three (3) times their annual retainer. This level of ownership is to be achieved within three years from the approval of this proposal for existing directors and five years of first joining the Board for new
directors elected after the approval of this proposal. Once a Director reaches this level of stock ownership, the Director will remain in compliance of this expectation, regardless of market fluctuations, as long as the Director does not sell shares
at a time when the aggregate value is less than the expected level. 
 Adopted by the Board of Directors: July 27, 2007Amendment to Employment Agreement and Release, dated August 6, 2012

 Exhibit 10.1 
 AMENDMENT TO EMPLOYMENT AGREEMENT AND RELEASE 
 THIS AMENDMENT TO
EMPLOYMENT AGREEMENT AND RELEASE (this “Agreement”) is made and entered into effective as of the 6th day of August, 2012 (“Effective Date”), by and between Michael A. Woodhouse (hereinafter generally referred to as “Mr.
Woodhouse” or “Executive”) and Cracker Barrel Old Country Store, Inc. and its subsidiaries, affiliates and related entities (“CBOCS” or “the Company”) (Mr. Woodhouse and the Company collectively referred to as
“the Parties”). 
 W I T N E S S E T H: 

WHEREAS, Mr. Woodhouse is currently the Executive Chairman of the Board of CBOCS, and Mr. Woodhouse and CBOCS are
parties to a certain Employment Agreement dated September 12, 2011 (the “Employment Agreement”) regarding the service of Mr. Woodhouse as Executive Chairman, the term of which expires on November 30, 2012 unless mutually
extended by the Parties; 
 WHEREAS, the Parties have agreed that Mr. Woodhouse will resign and step down from his
roles of Executive Chairman of the Board, officer, and employee of the Company prior to the CBOCS shareholder meeting, currently scheduled for November 15, 2012 (the date of such meeting, the “Shareholder Meeting Date”); and

 WHEREAS, in connection therewith, and following a period of negotiations between the Parties, Mr. Woodhouse and
CBOCS wish to enter into this Agreement so that Mr. Woodhouse’s long career of significant contributions to the Company may be recognized, that clarity may be achieved regarding Mr. Woodhouse’s compensation and outstanding equity
awards as he retires from service to the Company, and that each of the Parties may provide a general release of claims against the other Party in exchange for certain benefits and compensation set forth herein. 

NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, it is agreed as follows: 
 1. The Parties agree to
amend the Employment Agreement as follows: 
 (a) Section 2.1 will be amended to delete the date
“November 30, 2012”, which will be replaced with the following: 
 “ November 7, 2012”

 (b) Section 3.1 will be deleted in its entirety and replaced with the following: 

Position. Subject to the remaining conditions of this Section 3.1, Executive shall serve as the Executive Chairman
through November 7, 2012 at which time Mr. Woodhouse’s duties as Executive Chairman, officer, and employee of the Company will come to an end. During the Term, Executive shall report to the Board and perform such duties and
responsibilities as may be prescribed from time-to-time by the Board, which duties shall 

 
include, without limitation, (a) when present, presiding at meetings of the Board and shareholders and (b) coordinating with the Board and the Chief Executive Officer of the Company
with respect to the Company’s business and strategic initiatives. From time to time, Executive also may be designated to such offices within the Company or its subsidiaries as may be necessary or appropriate for the convenience of the
businesses of the Company and its subsidiaries. 
 (c) To the end of Section 4.2(a) will be added the
following: 
 For purposes of clarity, Executive acknowledges that to be eligible for an annual bonus for Fiscal Year 2013, he
would be required to be employed on the date on which such bonus is paid and therefore he will not be eligible for such annual bonus. 
 (d) Section 4.2(b) will be deleted in its entirety and replaced with the following: 
 Long Term Incentive Plan Awards. In the course of his employment, Executive has been granted Long Term Incentive awards that remain partially or wholly unvested. Those LTI awards will be treated as
follows as of the end of the Term: 
  

			
	 2011 MSU
	  	forfeited as unvested
	 2012 LTPP
	  	pro rata award based on service through end of Term
	 2012 MSU
	  	pro rata award based on service through end of Term

 Furthermore, with respect to any additional long term incentive plan established by the Company during the
Term, Executive’s target percentage under such a plan shall be no less than 150% of salary of the Base Salary. Any such long term incentive plan award granted to Executive will provide that such award will be awarded on a pro rata basis based
on service through the end of the Term. 
 (e) A new Section 4.3 will be added, with Section 4.3 to
read as follows: 
 Failure to Extend. Notwithstanding any term of this Agreement to the contrary, if
Executive fulfills his service through the Term and the Term of the Agreement is not extended by the parties beyond November 7, 2012 in accordance with Section 2.2, then Executive shall be entitled to receive $900,000.00 payable upon the
later of November 15, 2012 or the 8th day following
the date of Executive’s execution of the Release. In addition, if Executive timely elects to continue health insurance coverage through the Company’s health insurance plan under COBRA, the Company will reimburse Executive for his payment
of those premiums for up to eighteen (18) months upon submission of proper documentation of such payment(s). 
 (f) The following will be added to the end of section 8.2(d): “subject to the provisions of section 4.2(b).” 

(g) The language at the beginning of Section 2. of the Release which is an Addendum to the Employment Agreement (the
“Release”) that reads “In signing this 

  
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Release, Employee is not releasing any claim that may arise under the terms of the Agreement that (a) enforce his rights under the Agreement,” is deleted in its entirety and replaced
with the following: “ In signing this Release, Employee is not releasing any claim that may (a) arise under the terms of the Agreement that enforce his rights under Section 4.2(a) and (b) and Section 4.3 of the Agreement as
amended by the Amendment to Employment Agreement and Release,” 
 (h) A new Section 7 will be added to
the Release, with Section 7 to read as follows: 
 In consideration of the mutual promises and consideration given herein,
the Company does hereby irrevocably and unconditionally release, acquit and discharge Mr. Woodhouse, his spouse, his heirs, his successors and assigns, and his agents (the “Woodhouse Released Parties”) from any and all manner of
actions, charges, complaints, suits, proceedings, claims, liabilities, obligations, agreements, controversies, demands, costs, losses, debts and expenses whatsoever of any kind or nature, at law or in equity, whether known or unknown, fixed or
contingent, arising out of or in any way connected with the employment of Mr. Woodhouse by the Company or with his separation from employment with the Company. 
 2. The parties agree and acknowledge that the changes made to Mr. Woodhouse’s duties and responsibilities as a result of this Agreement do not constitute a Good Reason for termination of the
Employment Agreement under 8.2(a). 
 3. The parties agree and acknowledge that all portions of the Employment Agreement not
amended herein will remain in full force and effect, including, but not limited to, Section 13 (“Business Protection Provisions”) of the Employment Agreement. 
 4. The Parties further agree that as additional consideration to Mr. Woodhouse for the amendment of the Employment Agreement and his release of any and all claims that he may have had under the prior
terms of the Employment Agreement that have been amended in accordance with this Agreement or for any other matter up to the date of execution of this Agreement, the Company, upon proper substantiation, will reimburse Mr. Woodhouse in an amount
not to exceed $25,000 for attorney’s fees incurred with the negotiation and preparation of this Agreement. 
 5. Binding
Effect / No Oral Modification. This Agreement shall be binding upon CBOCS, Mr. Woodhouse and upon Mr. Woodhouse’s heirs, administrators, representatives, executors, successors, and assigns. The Parties acknowledge that each was
represented by counsel during the course of the negotiation of this Agreement and that they voluntarily and knowingly enter into the Agreement. The provisions of this Agreement may not be modified orally, but only in a writing signed by the parties
to be charged. 
 6. This Agreement may be executed in counterparts, each of which shall be deemed to be an original and shall
be binding upon the party who executed the same, but all of such counterparts shall constitute this same Agreement and may be sufficiently evidenced by one counterpart. Delivery of an executed counterpart of a signature page of this Agreement by
facsimile or PDF file, shall be as effective as delivery of a manually executed counterpart of this Agreement. 

  
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	/s/ Michael A. Woodhouse	 		 		 	August 6, 2012
	Michael A. Woodhouse	 		 		 	Date	 	
					
	CRACKER BARREL OLD COUNTRY STORE, INC.	 		 		 		 	
				
	/s/ Sandra B. Cochran	 		 		 	August 6, 2012
		 		 		 	Date	 	
	By: Sandra B. Cochran	 		 		 		 	
					
	Its: President and Chief Executive Officer	 		 		 		 	

  
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