Document:

Exhibit 10.1

Exhibit 10.1

FIRST AMENDMENT TO

THE SCOTTS MIRACLE-GRO COMPANY

AMENDED AND RESTATED

2006 LONG-TERM INCENTIVE PLAN

WHEREAS, The Scotts Miracle-Gro Company (the “Company”) previously adopted the The Scotts
Miracle-Gro Company Amended and Restated 2006 Long-Term Incentive Plan (the “Plan”); and

WHEREAS, subject to the limitations set forth in Article 18.1 of the Plan, the Company,
through its Board of Directors, may amend the Plan and any Award Agreements (as defined in the
Plan) without shareholder approval; and

WHEREAS, the Company desires to amend the Plan as provided herein to be effective as of the
20th day of January, 2010.

NOW THEREFORE, the Company hereby amends the Plan as follows:

Section 2.47 shall be amended by adding the following sentence at the end thereof:

Effective for Awards granted on or after January 20, 2010, an Award Agreement may specify a
different definition of “Termination” or “Terminate,” that will apply to such Award Agreement;
provided that no such different definition shall cause the term of the Award to which it relates to
extend beyond the maximum possible term for such Award contemplated under the applicable provisions
of this Plan and any applicable law, regulation or stock exchange rule.

IN WITNESS WHEREOF, the Company has caused this First Amendment to the Plan to be executed by
its duly authorized officer effective as of the date first set forth above

	 	 	 	 	 	 	 
	 	 	THE SCOTTS MIRACLE-GRO COMPANY
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Denise Stump	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:
	 	EVP, Global Human ResourcesExhibit 10.6

Exhibit 10.6

Execution Version

FIRST AMENDMENT dated as of May 13, 2010 (the “Amendment”) to the Master Accounts
Receivable Purchase Agreement dated as of May 1, 2009 (the “Agreement”) among Credit Agricole
Corporate and Investment Bank New York Branch (formerly known as Calyon New York Branch), as the
Bank, The Scotts Company LLC, as the Company, and The Scotts Miracle-Gro Company, as the Parent.
Capitalized terms used herein unless otherwise defined herein shall have the meanings assigned to
them in the Agreement.

WHEREAS, the Bank, the Company and the Parent have agreed to certain amendments to the
Agreement on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the premises set forth herein, the parties hereto hereby
agree as follows.

1. All references to “Calyon” in the Agreement and the other Transaction Documents shall be
deemed references to “Credit Agricole Corporate and Investment Bank”.

2. The definition of “Stated Termination Date” in the Agreement shall be amended and restated
in its entirety as follows (for purposes of clarification only, the amended language is in italics,
which shall have no effect on the amended provision):

“Stated Termination Date” means May 12, 2011, or such later date as may be extended by
mutual agreement of the Bank and the Company.

3. Schedule 5 to the Agreement shall be amended and restated in its entirety as set forth in
Exhibit A to this Amendment (for purposes of clarification only, the amended language in such
schedule is in italics, which shall have no effect on the amended schedule).

4. The Borrower and the Parent each represents to the Bank that (a) it has full power and
authority, and has taken all action necessary, to execute and deliver this Amendment, and to
perform its obligations hereunder; (b) this Amendment has been duly executed and delivered by it
and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms;
(c) all representations and warranties made by it in the Agreement are true on and as of the date
hereof as though made on such date; (d) the execution and delivery of this Amendment, and the
performance of its obligations hereunder, will not (i) conflict with or result in a breach of, or
require any consent under, its governing documents, (ii) violate any provision of any law, rule,
regulation, order, writ, judgment, injunction, decree, determination or award currently in effect
and applicable to it, (iii) result in a breach of or constitute a default under any indenture or
financing or credit agreement or any other agreement, lease or instrument to which it is a party or
by which it or its properties may be bound or affected, or (iv) result in, or require, the creation
or imposition of any Encumbrance upon or with respect to any of its properties or assets; (e) no
authorization or approval or other action by, and no notice to or filing with, any

 

 

 

Execution Version

governmental authority is required for the due execution, delivery and performance by it of
this Amendment or any other document related hereto to which it is a party; (f) no Termination
Event has occurred; and (g) there has been no amendment, modification or supplement to the Amended
and Restated Credit Agreement among the Parent, JPMorgan Chase Bank, N.A, as Agent (the “Agent”),
and the other parties thereto dated as of February 7, 2007, which would affect the validity of the
Letter dated May 1, 2009 to the Agent related to such agreement.

5. This Amendment shall become effective as of May 1, 2010 (the “Effective Date”) upon
satisfaction in the determination of the Bank of the following conditions:

	 	a.	 	the Bank shall have received all of the documents listed in
Exhibit B hereto in form and substance reasonably satisfactory to it;

	 
	 	b.	 	the representations and warranties made by the Company and the
Parent in Section 4 above are true and correct as of the Effective Date; and

	 
	 	c.	 	the Bank shall have received the fees and other amounts payable
by the Company pursuant to the Fee Letter dated as of May 13, 2010, attached
hereto as Exhibit C.

6. Upon the effectiveness of this Amendment, (a) the Agreement, as affected hereby, is hereby
ratified, approved and confirmed in each and every respect, and (b) all references to the Agreement
in any other document, instrument, agreement or writing (including any Transaction Document) shall
hereafter be deemed to refer to the Agreement as affected hereby.

7. This Amendment shall be governed by and construed in accordance with the laws of the State
of New York, United States of America, without giving effect to its conflicts of law principles
(other than Section 5-1401 of the New York General Obligations Law). The parties hereto hereby
agree that the provisions of Section 20.2 of the Agreement shall apply to this Agreement,
including, without limitation, the submission to the jurisdiction of the courts of the State of New
York sitting in New York County, New York and of the United States District Court for the Southern
District of New York.

8. THE COMPANY, THE PARENT AND THE BANK HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE
ANY RIGHTS THEY MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT
OF, UNDER, OR IN CONNECTION WITH, THIS AMENDMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION WITH
THIS AMENDMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN)
OR ACTIONS OF THE COMPANY, THE PARENT OR THE BANK.

 

-2-

 

Execution Version

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

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK NEW YORK BRANCH

	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Andre Gazal	 	 	 	By:	 	/s/ Thibault Berger
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: Andre Gazal	 	 	 	 	 	Name: Thibault Berger
	 

	 	Title: Managing Director	 	 	 	 	 	Title: Vice President
	 
	 	 	 	 	 	 	 	 
	THE SCOTTS COMPANY LLC	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ David C. Evans
	 	 	 	By:
	 	/s/ Scott M. Haefke
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: David C. Evans
	 	 	 	 
	 	Name: Scott M. Haefke
	 

	 	Title: Executive Vice President and
	 	 	 	 
	 	Title: Vice President and Treasurer
	 

	 	         Chief Financial Officer	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	THE SCOTTS MIRACLE-GRO COMPANY	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ David C. Evans
	 	 	 	By:
	 	/s/ Scott M. Haefke
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: David C. Evans
	 	 	 	 
	 	Name: Scott M. Haefke
	 

	 	Title: Executive Vice President and
	 	 	 	 
	 	Title: Vice President and Treasurer
	 

	 	         Chief Financial Officer	 	 	 	 	 	 

 

-3-Exhibit 10.7

Exhibit 10.7

Summary of Compensation for Nonemployee Directors of

The Scotts Miracle-Gro Company

Effective as of January 22, 2010

 

At the meeting of the Board of Directors (the “Board”) of The Scotts Miracle-Gro Company (the
“Company”) held on January 21, 2010, the Board approved the recommendations of the Governance and
Nominating Committee of the Board with respect to compensation for the 2010 calendar year for
nonemployee members of the Board (“Nonemployee Directors”) and the Lead Independent Director of the
Company. The compensation approved by the Board is described below.

Annual Cash Retainer; Reimbursement of Expenses

Effective January 22, 2010, each of the Nonemployee Directors will be paid an annual cash
retainer in the amount of $100,000 and the Lead Independent Director will be paid an additional
annual cash retainer in the amount of $15,000. The annual cash retainer(s) will be paid on a
quarterly basis, in January, April, July and October, 2010. Nonemployee Directors receive
reimbursement of all reasonable travel and other expenses associated with attending Board and Board
committee meetings.

Deferred Stock Units

On January 22, 2010: (a) each Nonemployee Director was granted deferred stock units having a
value of $70,000; (b) the Lead Independent Director was granted additional deferred stock units
having a value of $35,000; (c) each Nonemployee Director was granted additional deferred stock
units having a value of $12,500 for each committee of the Board on which such Nonemployee Director
serves; (d) each Nonemployee Director serving as the chairperson of a committee of the Board was
granted additional deferred stock units having a value of $25,000; and (e) each Nonemployee
Director serving on the Audit Committee of the Board was granted additional deferred stock units
having a value of $5,000. The number of deferred stock units (and related dividend equivalents)
granted to each Nonemployee Director (including the Lead Independent Director) was calculated by
dividing the aggregate value of deferred stock units to be granted to such Nonemployee Director by
the closing price of the Company’s common shares on the January 22, 2010 grant date ($41.03) and
rounding any resulting fractional deferred stock unit up to the next whole deferred stock unit.

The deferred stock units (and related dividend equivalents) were granted under The Scotts
Miracle-Gro Company Amended and Restated 2006 Long-Term Incentive Plan (the “2006 Plan”). Each
whole deferred stock unit represents the right to receive one full common share of the Company at
the time and in the manner described in the Deferred Stock Unit Award Agreement for Nonemployee
Directors (with Related Dividend Equivalents) evidencing the award. Each dividend equivalent
represents the right to receive additional deferred stock units (rounded to the nearest whole
deferred stock unit) in respect of dividends that are declared and
paid during the period beginning on the grant date and ending on the settlement date with
respect to the common share of the Company represented by the related deferred stock unit.

 

 

 

The deferred stock units, including any deferred stock units received in respect of dividend
equivalents on or prior to the vesting date, will generally become 100% vested on January 22, 2013.
Any deferred stock units received in respect of dividend equivalents following the vesting date
will be 100% vested on the date they are credited to the Nonemployee Director. If, prior to the
vesting date, a Nonemployee Director ceases to be a member of the Board after having been convicted
of, or pleading guilty or nolo contendere to, a felony (“Cause”), the Nonemployee Director’s
deferred stock units (and related dividend equivalents) will be immediately forfeited.

Under certain circumstances, the deferred stock units will vest prior to January 22, 2013.
These circumstances depend, in part, on whether a Nonemployee Director had served one full term on
the Board as of January 22, 2010. If a Nonemployee Director who had served less than one full term
on the Board as of January 22, 2010: (a) ceases to be a member of the Board (other than for Cause)
after completing at least one full term of continuous service on the Board, (b) dies or (c) becomes
totally disabled, then the deferred stock units granted during the Nonemployee Director’s first
term will become 100% vested as of the date of such event. If a Nonemployee Director who had
served at least one full term on the Board as of January 22, 2010: (a) ceases to be a member of
the Board (other than for Cause) after completing at least two full terms of continuous service on
the Board and attaining age 50, (b) dies or (c) becomes totally disabled, then all of the
Nonemployee Director’s deferred stock units will become 100% vested as of the date of such event.
If a Nonemployee Director ceases to be a member of the Board prior to the vesting date for any
reason not described in the preceding two sentences, the Nonemployee Director’s deferred stock
units (and related dividend equivalents) will be immediately forfeited.

Subject to the terms of the 2006 Plan, vested deferred stock units will be settled in a lump
sum as soon as administratively practicable, but no later than 90 days, following the earliest to
occur of: (i) a Nonemployee Director’s ceasing to be a member of the Board; (ii) a Nonemployee
Director’s death; (iii) the date a Nonemployee Director becomes totally disabled; or (iv) January
22, 2015. Whole deferred stock units will be settled in full common shares of the Company and any
fractional deferred stock units will be settled in cash, determined based on the fair market value
of a common share of the Company on the settlement date.

If there is a Change in Control (as defined in the 2006 Plan), each Nonemployee Director’s
deferred stock units will become 100% vested on the date of the Change in Control and will be
settled as described in the 2006 Plan.

For more information about the deferred stock units (and related dividend equivalents) granted
to the Nonemployee Directors, please refer to (a) the form of Deferred Stock Unit Award Agreement
for Nonemployee Directors (with Related Dividend Equivalents) that is included as Exhibit 10.1 to
the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 28, 2009; (b) the
2006 Plan that is included as Exhibit 10(r)(2) to the Company’s Annual Report on Form 10-K for the
fiscal year ended September 30, 2007; and (c) the First Amendment to the 2006 Plan that is included
as Exhibit 10.1 to this Quarterly Report on Form 10-Q.

 

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