Document:

EX-10.6

 Exhibit 10.6 

EMPLOYMENT AGREEMENT AMENDMENT 

This EMPLOYMENT AGREEMENT AMENDMENT (this “Amendment”) is entered into as of June 2, 2015, between C. LOWELL BALL (the
“Executive”) and STOCK BUILDING SUPPLY HOLDINGS, INC., a Delaware corporation (the “Company”). 
 RECITALS 

WHEREAS, the Executive and the Company previously entered into the Amended and Restated Employment Agreement dated as of
October 9, 2014 (the “Agreement”); and 
 WHEREAS, the Executive and the Company wish to amend the Agreement with
respect to the potential application of Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, with respect to certain payments and benefits that the Executive may receive. 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, and for other good and valuable consideration,
the Executive and the Company agree as follows: 
 1. Amendment of Agreement. The Executive and the Company agree that the
Agreement is hereby amended, effective June 2, 2015, by adding a new Section 6.15 which shall read as follows: 
 6.15.
Code Section 280G. Notwithstanding any other provision of this Agreement, if it is determined that the benefits or payments payable under this Agreement, taking into account other benefits or payments provided under other plans,
agreements or arrangements, constitute Parachute Payments that would subject the Executive to tax under Section 4999 of the Code, it must be determined whether the Executive will receive the total payments due or the Reduced Amount. The
Executive will receive the Reduced Amount if the Reduced Amount results in equal or greater Net After Tax Receipts than the Net After Tax Receipts that would result from the Executive receiving the total payments due. 

If it is determined that the total payments should be reduced to the Reduced Amount, the Company must promptly notify the
Executive of that determination, including a copy of the detailed calculations by an accounting firm or other professional organization qualified to make the calculation that was selected by the Company and acceptable to the Executive (the
“Accounting Firm”). The Company shall pay the fees and expenses of the Accounting Firm. All determinations made by the Accounting Firm under this Section 6.15 are binding upon the Company and the Executive, subject to any
differing determination by the Internal Revenue Service. 

 It is the intention of the Company and the Executive to reduce the payments under
this Agreement and any other plan, agreement or arrangement only if the aggregate Net After Tax Receipts to the Executive would thereby be increased. 

If it is determined that the total payments should be reduced to the Reduced Amount, any reduction shall be in the order that
would provide the Executive with the largest amount of Net After Tax Receipts (subject to the remainder of this sentence, pro rata if two alternatives provide the same result) and shall, to the extent permitted by Code Section 280G and 409A be
designated by the Executive. The Executive shall at any time have the unilateral right to forfeit any equity grant in whole or in part. 

For purposes of this Agreement, the term “Net After Tax Receipt” means the Present Value of the total payments or the
Reduced Amount, as applicable, net of all federal, state and local income and payroll taxes imposed on the Executive, including Section 4999 of the Code, determined by applying the highest marginal rate of income taxes which applied to the
Executive’s taxable income for the immediately preceding taxable year. For purposes of this Agreement, the term “Parachute Payment” means a payment (under this Agreement or any other plan, agreement or arrangement) that is described
in Section 280G(b)(2) of the Code, determined in accordance with Section 280G of the Code and the regulations thereunder. For purposes of this Agreement, the term “Present Value” means the value determined in accordance with
Section 280G(d)(4) of the Code and the regulations thereunder. For purposes of this Agreement, the term “Reduced Amount” means the largest amount of Parachute Payments that is less than the total Parachute Payments and that may be
paid to the Executive without subjecting the Executive to tax under Section 4999 of the Code. 
 2. No Other Changes.
Except as provided in the preceding Section 1, the terms of the Agreement, as in effect on the date hereof, remain in full force and effect without change by this Amendment. 

IN WITNESS WHEREOF, the parties have executed this Employment Agreement Amendment effective as of the date first set forth above. 

 

							
	STOCK BUILDING SUPPLY HOLDINGS, INC.				EXECUTIVE
				
	By:		 /s/ Bryan J. Yeazel
				 /s/ C. Lowell Ball

			Bryan J. Yeazel				C. LOWELL BALL
			EVP and Chief Operating OfficerAmendmentNo1toCoStar2014CreditAgreement

Exhibit 10.1

EXECUTION VERSION

AMENDMENT No. 1 dated as of June 1, 2015 (this “Amendment”), to the CREDIT AGREEMENT dated as of April 1, 2014 (the “Credit Agreement”) among COSTAR GROUP, INC. (the “Borrower”), COSTAR REALTY INFORMATION, INC., the Lenders party thereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).
WITNESSETH:
WHEREAS the Borrower and the Lenders under the Credit Agreement party hereto, constituting the Required Lenders under the Credit Agreement, desire to amend the Credit Agreement, on the terms and subject to the conditions set forth herein, to modify the defintion of “Continuing Directors” in Section 1.01 of the Credit Agreement.  
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.  Defined Terms.  Capitalized terms used but not otherwise defined herein (including in the preamble and recitals hereto) have the meanings assigned to them in the Credit Agreement.
SECTION 2.    Amendment of the Credit Agreement.  Effective as of the Amendment Execution Date, the definition of the term “Continuing Director” in Section 1.01 of the Credit Agreement is hereby amended to read in its entirety as follows: 
“Continuing Director” means, at any date, an individual (a) who is a member of the board of directors of the Borrower on the Closing Date, (b) who, as at such date, has been a member of such board of directors for at least the 12 preceding months, or (c) who has been nominated to be a member of such board of directors by a majority of the other Continuing Directors then in office.
SECTION 3.    Representations and Warranties.  The Borrower hereby represents and warrants to the Administrative Agent and to each of the Lenders, as of the Amendment Execution Date, that:
(a)    The representations and warranties of the Borrower set forth in the Credit Agreement are true and correct (i) in the case of the representations and warranties qualified as to materiality, in all respects and (ii) otherwise, in all material respects, in each case on and as of the Amendment Execution Date, except in the case of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty is so true and correct on and as of such prior date.
(b)    On and as of the Amendment Execution Date, after giving effect to this Amendment, no Default has occurred and is continuing under the Credit Agreement.

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SECTION 4.    Amendment Effectiveness.  This Amendment will become effective on the first date (the “Amendment Execution Date”) on which (a) the Administrative Agent (or its counsel) shall have received from (i) the Borrower, (ii) Lenders that constitute at least the Required Lenders under the Credit Agreement and (iii) the Administrative Agent, either (x) counterparts of this Amendment (which may include telecopy or other electronic transmission of a signed signature page of this Amendment) signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent that such party has signed a counterpart of this Amendment.
The Administrative Agent shall notify the Borrower and the Lenders of the Amendment Execution Date, and such notice shall be conclusive and binding. 
SECTION 5.    Effect of Amendment.  (a).  Except as expressly set forth herein, this Amendment 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 under the Credit Agreement, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement in similar or different circumstances.
(b)    On and after the Amendment Execution Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference to the Credit Agreement in any other Loan Document, shall be deemed to be a reference to the Credit Agreement as amended hereby.  This Amendment will constitute a Loan Document for all purposes of the Credit Agreement and each other Loan Document.
SECTION 6.    Applicable Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
SECTION 7.    Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging shall be as effective as delivery of a manually executed counterpart of this Amendment.
SECTION 8.    Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.
[Remainder of page intentionally left blank.]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their officers as of the date first above written.
COSTAR GROUP, INC.,
		
	by 
/s/ Charles A. Colligan
	 
Name: Charles A. Colligan 
Title: Treasurer

JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent,
		
	by 
/s/ Alicia Schreibstein
	 
Name: Alicia Schreibstein 
Title: Vice President

[Amendment Signature Page]

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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

                
Name of Lender:   Bank of America, N.A.    

	
		
	by

	 
	/s/ Mary K. Giermek

	 
	Name:   Mary K. Giermek

	 
	Title:   Senior Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

4
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   SunTrust Bank

	
		
	by

	 
	/s/ James W. Ford

	 
	Name:   James W. Ford

	 
	Title:   Managing Director

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

5
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Wells Fargo Bank, National Association

	
		
	by

	 
	/s/ Barbara K. Angel

	 
	Name:   Barbara K. Angel

	 
	Title:   Senior Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

6
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Fifth Third Bank

	
		
	by

	 
	/s/ Susan Waters

	 
	Name:   Susan Waters

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

7
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:  HSBC Bank USA, NA

	
		
	by

	 
	/s/ Jacob C. Streit

	 
	Name:   Jacob C. Streit

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

8
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   PNC Bank, National Association

	
		
	by

	 
	/s/ Bremmer Kneib

	 
	Name:   Bremmer Kneib

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

9
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:  CAPITAL ONE, N.A.

	
		
	by

	 
	/s/ Michelle Khalili

	 
	Name:   Michelle Khalili

	 
	Title:   Senior Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

10
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Silicon Valley Bank

	
		
	by

	 
	/s/ Will Deevy

	 
	Name:   Will Deevy

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

11
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Citibank, N.A.

	
		
	by

	 
	/s/ Brian J. Rolli

	 
	Name:   Brian J. Rolli

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

12
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Citizens Bank, N.A. (f.d.b.a. RBS Citizens, N.A.)

	
		
	by

	 
	/s/ Andrew J. Meara 

	 
	Name:   Andrew J. Meara

	 
	Title:   Senior Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

13
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   TD Bank, N.A.

	
		
	by

	 
	/s/ Mark Worthy

	 
	Name:   Mark Worthy

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

14
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Raymond James Bank, NA

	
		
	by

	 
	/s/ Eric Strange

	 
	Name:   Eric Strange

	 
	Title:   Vice President

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

15
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Sabadell United Bank, N.A.

	
		
	by

	 
	/s/ Maurici Lladó

	 
	Name:   Maurici Lladó

	 
	Title:   Executive Vice President – Corporate & Commercial Banking

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

16
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SIGNATURE PAGE TO
AMENDMENT NO. 1 TO 
 CREDIT AGREEMENT 
OF COSTAR GROUP, INC.
    

Name of Lender:   Goldman Sachs Bank, NA

	
		
	by

	 
	/s/ Jamie Minieri

	 
	Name:   Jamie Minieri

	 
	Title:   Authorized Signatory

For any Lender that requires a second signature line:

	
		
	by

	 
	 

	 
	Name:   

	 
	Title:   

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