Document:

EX-10.04E

 

 

Exhibit
10.04e

MONRO
MUFFLER BRAKE, INC.
RETIREMENT PLAN

Amendment
No. 5 to GUST Restatement

     Pursuant to Section 11.1, the Plan is amended, effective January 1, 2004, by adding the following new provision to the end of Section 1.2:

     Notwithstanding
anything in the Plan to the contrary, with respect to the Code section 415 limit, for purposes
of adjusting the annual benefit to a straight life annuity, the equivalent annual benefit shall be
the greater of the equivalent annual benefit computed using the Plan’s interest rate and Plan
mortality table (or other tabular factor) and the equivalent annual benefit computed using five
percent (5%) interest rate assumption and the “applicable mortality table.”  However, for purposes
of adjusting the annual benefit to a straight life annuity, if the annual benefit is paid in any
form other than a non-decreasing life annuity payable for a period not less than the life of a
Participant or, in the case of a Pre-Retirement Survivor Annuity, the life of the surviving spouse,
then the equivalent annual benefit shall be the greater of the equivalent annual benefit computed
using the Plan interest rate and Plan mortality table (or other tabular factor) and the equivalent
annual benefit computed using the “applicable interest rate” and the “applicable mortality table.”
With respect to Plan Years beginning in 2004 and 2005 and any subsequent Plan Year as provided by
law, for purposes of adjusting the annual benefit to a straight life annuity, if the annual benefit
is paid in any form other than a non-decreasing life annuity payable for a period not less than
the life of a Participant or, in the case of a Pre-Retirement Survivor Annuity, the life of the
surviving spouse, then the equivalent annual benefit shall be the greater of the equivalent
annual benefit computed using the Plan interest rate and Plan mortality table (or other tabular
factor) and the equivalent annual benefit computed using five and one-half percent (5.5%)
and the “applicable mortality table.”

     IN
WITNESS WHEREOF, the Company has caused its duly authorized officer
to execute this amendment on its behalf this 21st day of December, 2006.

	 	 	 	 	 	 	 
	 	 	MONRO MUFFLER BRAKE, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Catherine D’Amico
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	CFO	 	 

24EX-10.11A

 

Exhibit 10.11a

AMENDMENT NO. 1 TO CREDIT AGREEMENT

     AMENDMENT (this “Amendment”), dated January 12, 2007, by and among MONRO MUFFLER
BRAKE, INC. (“Borrower”), the several financial institutions party hereto (“Lenders”),
CHARTER ONE BANK, N.A., as Administrative Agent for Lenders, JPMorgan Chase Bank, N.A., as
Syndication Agent, and Bank of America, N.A., as Documentation Agent.

RECITALS

     A. Borrower, Lenders, Administrative Agent, Syndication Agent and Documentation
Agent are parties to the Credit Agreement, dated as of July 13, 2005 (as it may be amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Unless
otherwise defined herein, all capitalized terms used herein or in the Acknowledgement and Consent
annexed hereto shall have the meanings ascribed to them in the Credit Agreement.

     B. Borrower has requested that the Credit Agreement be amended in certain respects.

     C. Administrative Agent has advised Borrower that Lenders are willing to agree to
its requests on the terms and subject to the conditions set forth in this Amendment.

     Accordingly, in consideration of the foregoing, the parties hereto hereby agree as follows:

     1. Amendments to Credit Agreement.

          (a) Additional Definitions. Section 1.1 of the Credit Agreement is hereby
amended by adding the following new definitions in the appropriate alphabetical order:

     Amendment No. 1 means Amendment No. 1 to Credit Agreement dated January
12, 2007 by and among the Borrower, the Lenders party thereto, the Syndication Agent,
the Documentation Agent and the Administrative Agent.

     Amendment No. 1 Effective Date means the date that the conditions to the
effectiveness of Amendment No. 1 have been satisfied.

          (b) CAPEX. Section 1.1 of the Credit Agreement is hereby amended by deleting the
definition of “CAPEX” in its entirety and substituting the following therefor:

     CAPEX means, for any Four Quarter Period, capital expenditures for fixed
or capital assets that are required to be capitalized on a balance sheet prepared in
accordance with GAAP minus the sum of (a) any net proceeds of sale/leasebacks
permitted by Sections 9.10 or 9.16, (b) (without duplication) any
capital expenditures incurred for equipment purchased and then sold transferred or
otherwise disposed of pursuant to sale/leaseback facilities permitted pursuant to
Section 9.10 and (c) any net proceeds from any sales, transfers or other
dispositions of any fixed assets permitted by Section 9.10.

          (c) Facility Maturity Date. Section 1.1 of the Credit Agreement is hereby amended by
deleting the definition of “Facility Maturity Date” in its entirety and substituting the
following therefor:

     Facility Maturity Date means the earlier of (a) January 31, 2012, and (b)
the effective date that Lenders’ commitments to lend under the Facility are otherwise
cancelled or terminated in accordance with this Agreement.

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          (d) Rental Payments. Section 1.1 of the Credit Agreement is hereby amended by
deleting the definition of “Rental Payments” in its entirety and substituting the following
therefor:

     Rental Payments means, as determined, on a rolling twelve month basis
ending on the last day of the accounting period covered by the consolidated financial
statements of Borrower and its Subsidiaries, and delivered pursuant to this Agreement,
(a) the dollar amount of the fixed payments which Borrower or its Subsidiaries are
required to make by the terms of any lease to its landlords during such period
(excluding, however, the sum of: (i) rentals under Capitalized Leases, (ii)
maintenance, repairs, taxes and other similar charges included in such payments, (iii)
amounts constituting step rent in accordance with GAAP, (iv) (without duplication)
rentals under equipment leases whether operating leases or Capitalized Leases and (v)
non-cash rent expense and non-cash rent income under below-market or above-market
leases (as determined in accordance with GAAP) under which Borrower or any Subsidiary
is or becomes the lessee as a result of any transaction not prohibited by this
Agreement), less (b) (x) rental income received in cash and (y) amortization of
deferred gains on sale-leasebacks, such amortization not to exceed $1,000,000 for
purposes hereof.

          (e) Optional Increase in Facility Committed Sum. Clause (iv) of Section 2.6(a) of the
Credit Agreement is hereby deleted in its entirety and the following substituted therefor:

	 	(iv)	 	immediately after such increase is made, the Facility
Committed Sum shall not exceed $200,000,000.

          (f) Loans, Advances and Investments. Section 9.8 of the Credit Agreement is hereby
deleted in its entirety and the following substituted therefor:

     9.8 Loans, Advances and Investments. Except as permitted by Section
9.9 or Section 9.11, Borrower may not and may not permit any Company to
make any loan, advance, extension of credit or capital contribution to, make any
investment in, or purchase or commit to purchase any stock or other securities or
evidences of Debt of, or interests in, any other Person; provided, however, that
Borrower or a Company may make an advance to, investment in or purchase from another
Person if (1) (a) such action results in the acquisition of such Person by Borrower or
such Company, (b) such action results in the Borrower’s direct or indirect ownership
of new stores, (c) the Person being acquired is in a line of business which is
substantially the same as or complimentary to the Borrower’s principal line of
business, (d) the Person being acquired is located in either the United States or
Canada, (e) the Person being acquired will not exceed forty percent (40%) growth in
the total number of service bays owned or leased by Borrower immediately prior to the
date of the proposed acquisition, and (f) immediately after giving effect to such
acquisition, the Companies shall be in pro forma compliance with all covenants under
Article 10 (which pro forma compliance shall be calculated based on the actual
results of Borrower for the immediately preceding Four Quarter Period and the
projected EBITDA and Debt of the Person being acquired for the immediately succeeding
Four Quarter Period as reasonably determined by Borrower) and shall not be in Default
or Potential Default under this Agreement; provided that if any acquisition described
in this clause (1) is in excess of an aggregate cost to Borrower or such Company of
more than $20,000,000 (excluding any loans, advances or other extensions of credit or
capital contributions made or to be made by Borrower or such Company in connection
with the consummation of such acquisition), Borrower shall deliver to Administrative Agent, prior to the consummation of such acquisition,

26

 

a
certificate of a Responsible Officer of Borrower in form and substance satisfactory to
Administrative Agent demonstrating, on a pro forma basis after giving effect to such
acquisition that the Companies shall be in compliance with all covenants in this
Agreement, or (2) such action is used to provide financial assistance to third parties
that may be purchasing or subleasing certain facilities owned or leased by Borrower
and the cumulative principal amount of such financing is not greater than $5,000,000
(provided that such third party loans shall be assigned to Lenders and shall not
exceed a term of five (5) years), or (3) such action is for investments in Cash
Equivalents, or (4) such action is for investments in marketable securities traded on
a national securities exchange for which there can be obtained a publicly quoted fair
market value and the aggregate fair market value of such marketable securities is not
greater than $1,000,000 at any time.

          (g) Dividends and Distributions. Section 9.9 of the Credit Agreement is hereby
deleted in its entirety and the following substituted therefor:

     9.9 Dividends and Distributions. Borrower may not and may not permit any
Company to declare, make, or pay any Distribution other than Distributions declared,
made, or paid by (a) Borrower wholly in the form of its capital stock; or (b) any
other Company to Borrower or (c) Borrower in cash in respect of the retirement,
redemption, purchase or other acquisition of its capital stock or other equity
securities, provided that, before and after giving effect to any such retirement,
redemption, purchase or other acquisition, the Companies shall be in compliance with
all covenants under Article 10 and shall not be in Default or Potential
Default under this Agreement; or (d) Borrower in cash in respect of dividends on its
capital stock or other equity securities in an aggregate amount in any fiscal year not
to exceed an amount equal to 25% of the Net Income of Borrower for the immediately
preceding fiscal year, provided that, before and after giving effect to any such cash
dividend, the Companies shall be in compliance with all covenants under Article
10 and shall not be in Default or Potential Default under this Agreement.
Borrower may not and may not permit any Company to enter into or permit to exist any
arrangement or agreement (other than the Loan Papers) that prohibits it from paying
dividends or other distributions to its shareholders.

          (h) General. All references to “this Agreement” in the Credit Agreement and to “the
Credit Agreement” in the other Loan Documents shall be deemed to refer to the Credit Agreement as
amended hereby.

     2. Conditions to Effectiveness. This Amendment shall be effective upon the
satisfaction of each of the following conditions:

          (a) Administrative Agent shall have received an executed counterpart of this Amendment signed
by Borrower, the Lenders and Administrative Agent.

          (b) Administrative Agent shall have received an executed counterpart of the acknowledgement
and consent annexed hereto duly executed by each of the Guarantors.

          (c) The representations and warranties contained in the Credit Agreement shall be true and
correct in all material respects (except to the extent (i) that the representations and warranties
speak to a specific date or (ii) the facts on which such representations and warranties are based
have been changed by transactions contemplated or permitted by the Credit Agreement) and no
Default, or Potential Default, shall exist.

          (d) Administrative Agent shall have received (i) for the account of the Lenders party hereto
pro rata in accordance with their respective Committed Sums, payable on the Amendment No. 1
Effective Date, an amendment fee equal to $37,500 and (ii) all other amounts due and payable on or
prior to the Amendment No. 1 Effective Date, including, to the extent invoiced, reimbursement or payment of all
reasonable out-of-pocket expenses required to be reimbursed or paid by Borrower hereunder.

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          (e) Borrower shall have paid the reasonable fees and disbursements of counsel to
Administrative Agent and Lenders in connection with this Amendment.

Administrative Agent shall notify Borrower and Lenders of the effective date of this Amendment, and
such notice shall be conclusive and binding.

     3. Representations, Warranties and Covenants. Borrower hereby represents and warrants
to and covenants and agrees with Administrative Agent and Lenders that:

          (a) The representations and warranties set forth in the Loan Papers (except to the extent (i)
that the representations and warranties speak to a specific date or (ii) the facts on which such
representations and warranties are based have been changed by transactions contemplated or
permitted by the Credit Agreement) are true and correct in all material respects as of the date
hereof and with the same effect as though made on and as of the date hereof.

          (b) No Default and no Potential Default now exists or would exist.

          (c) (i) The execution, delivery and performance by Borrower of this Amendment is within its
organizational powers and have been duly authorized by all necessary action (corporate or
otherwise) on the part of Borrower, (ii) this Amendment is the legal, valid and binding obligation
of Borrower, enforceable against Borrower in accordance with its terms, except as enforceability
may be limited by applicable Debtor Relief Laws and general principles of equity, and (iii) neither
this Amendment nor the execution, delivery and performance by Borrower hereof: (A) contravenes the
terms of Borrower’s organization documents, (B) violates any Material Agreements to which it is a
party, other than a violation which would not cause a Material Adverse Event, (C) violates any
provision of Law or order of any Tribunal applicable to it, other than violations that individually
or collectively are not a Material Adverse Event, or (D) results in the creation or imposition of
any Lien (other than the Lender Liens) on any asset of any Company.

     4. Effect; No Waiver.

          (a) Borrower hereby (i) reaffirms and admits the validity and enforceability of the Loan
Papers and all of its obligations thereunder and (ii) agrees and admits that it has no defenses to
or offsets against any such obligation. Except as specifically set forth herein, the Credit
Agreement and the other Loan Papers shall remain in full force and effect in accordance with their
terms and are hereby ratified and confirmed. The execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any existing or future Default, whether known or unknown
or any right, power or remedy of Administrative Agent or Lenders under the Credit Agreement, nor
constitute a waiver of any provision of the Credit Agreement, except as specifically set forth
herein.

          (b) Borrower hereby (i) reaffirms all of its agreements and obligations under the Security
Documents, (ii) reaffirms that all Obligations of Borrower under or in connection with the Credit
Agreement as modified hereby are “Obligations” as that term is defined in the Security
Documents and (iii) reaffirms that all such Obligations continue to be secured by the Security
Documents, which remains in full force and effect and is hereby ratified and confirmed.

     5. Miscellaneous.

          (a) Borrower and each of the other Companies will take, and Borrower will cause the other
Companies to take, all actions that may be required under any applicable law, or which
Administrative Agent or the Majority Lenders may reasonably request, to effectuate the transactions contemplated
hereby or to grant, preserve, protect or perfect the Liens created or intended to be created by the
Security Documents or the validity or priority of any such Lien, all at the expense of Borrower.

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          (b) Borrower shall pay Administrative Agent upon demand for all reasonable expenses, including
reasonable attorneys’ fees and expenses of Administrative Agent, incurred by Administrative Agent
in connection with the preparation, negotiation and execution of this Amendment.

          (c) THIS AMENDMENT SHALL BE GOVERNED BY THE LAWS (OTHER THAN CONFLICT-OF-LAWS PROVISIONS) OF
THE STATE OF NEW YORK AND OF THE UNITED STATES OF AMERICA.

          (d) This Amendment shall be binding upon Borrower, Administrative Agent and Lenders and their
respective successors and assigns, and shall inure to the benefit of Borrower, Administrative Agent
and Lenders and the respective successors and assigns of Administrative Agent and Lenders.

          (e) This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute one and the same instrument.

[Signature pages follow.]

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     AS EVIDENCE of the agreement by the parties hereto to the terms and conditions herein
contained, each such party has caused this Amendment to be executed on its behalf.

	 	 	 	 	 	 	 
	 	 	MONRO MUFFLER BRAKE, INC.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Catherine D’Amico
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Catherine D’Amico	 	 
	 

	 	Title:
	 	CFO	 	 

30

 

	 	 	 	 	 	 	 
	 	 	CHARTER ONE BANK, N.A., as Administrative Agent and as a
Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Stephanie Epkins
 

	 	 
	 

	 	Name:
	 	Stephanie Epkins	 	 
	 

	 	Title:
	 	SVP	 	 

31

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.,
as Syndication Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Bruce Yoder
 

	 	 
	 

	 	Name:
	 	Bruce Yoder	 	 
	 

	 	Title:
	 	Vice President	 	 

32

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Documentation Agent and a
Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael W. Brunner
 

	 	 
	 

	 	Name:
	 	Michael W. Brunner	 	 
	 

	 	Title:
	 	Vice President	 	 

33

 

	 	 	 	 	 	 	 
	 	 	MANUFACTURERS & TRADERS TRUST COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Randall C. Cardon
 

	 	 
	 

	 	Name:
	 	Randall C. Cardon	 	 
	 

	 	Title:
	 	Vice President	 	 

34

 

	 	 	 	 	 	 	 
	 	 	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Philip M. Hendrix
 

	 	 
	 

	 	Name:
	 	Philip M. Hendrix	 	 
	 

	 	Title:
	 	Vice President	 	 

35

 

ACKNOWLEDGEMENT AND CONSENT

     Each of the undersigned Guarantors hereby (1) consents to the execution and delivery by
Borrower of the foregoing Amendment; (2) agrees that the definition of “Credit Agreement”
in the Guaranty and the other Loan Papers to which it is a party is hereby amended to mean the
Credit Agreement as modified by the foregoing Amendment; (3) reaffirms its continuing liability
under the Guaranty (as modified hereby); (4) reaffirms all of its agreements and obligations under
the Security Documents; (5) reaffirms that all Obligations of Borrower under or in connection with
the Credit Agreement as modified by the foregoing Amendment are “Obligations” as that term
is defined in the Security Documents; (6) reaffirms that all such Obligations continue to be
secured by the Security Documents, which remain in full force and effect and are hereby ratified
and confirmed; and (7) confirms and agrees that it is a Guarantor party to the Guaranty and a
Debtor party to the Security Documents and that the Guaranty, the Security Documents and the other
Loan Papers to which it is a party are, and shall continue to be, in full force and effect in
accordance with their respective terms.

	 	 	 	 	 	 	 
	 	 	MONRO SERVICE CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Catherine D’Amico
 

	 	 
	 

	 	Name:
	 	Catherine D’Amico	 	 
	 

	 	Title:
	 	Director	 	 

36

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