Document:

EX-10.46

 Exhibit 10.46 

Office Depot. Inc. 

Amendment to Certain Long-Term Incentive Awards 

This amendment, which is effective as of December 23, 2016, applies to certain long-term incentive awards outstanding to eligible members
of the Office Depot, Inc. Executive Leadership Team (“Amendment”). 
 Amendment to Restricted Stock Unit Awards 

Each Restricted Stock Unit Award is amended to provide that in the event of the Eligible Executive’s voluntary termination of employment
with the Company and its Subsidiaries for any reason after March 31, 2018, the Eligible Executive will continue to vest (to the extent not already vested) in the Restricted Stock Unit Award that would otherwise have vested after March 31,
2018, in the absence of the Eligible Executive’s employment termination. Such vesting of a Restricted Stock Unit Award will occur on the scheduled vesting dates specified in the Award Agreement evidencing the Restricted Stock Unit Award. 

Amendment to Performance Share Awards 

Each Performance Share Award is amended to provide that in the event of the Eligible Executive’s voluntary termination of employment with
the Company and its Subsidiaries for any reason after March 31, 2018, the Performance Share Award will continue to vest based on actual performance pursuant to the terms of the Award Agreement evidencing the Performance Share Award. Such
vesting will occur on the later of the scheduled vesting date specified in the Award Agreement evidencing the Performance Share Award or the date the Compensation Committee of the Company’s Board of Directors determines performance for the
applicable performance period specified in the Award Agreement evidencing the Performance Share Award. 

Non-Competition, Confidentiality and Non-Solicitation Obligations

If, after an Eligible Executive’s voluntary termination of employment with the Company and its Subsidiaries, he violates any of the non-competition, non-solicitation, and confidentiality provisions set forth in the Award Agreement, the Associate Non-Competition,
Confidentiality and Non-Solicitation Agreement or any other applicable agreement he has entered into with the Company, the provisions of this Amendment shall immediately be rescinded with regard to such
Eligible Executive and he will immediately forfeit any remaining unvested Restricted Stock Unit Award and any remaining unvested Performance Share Award. 

No Other Changes
 Except as provided in
this amendment, the terms and provisions of the Awards shall continue in full force and effect. In particular, payment under each Award will be made in accordance with the existing payment schedule specified in the Award Agreement evidencing the
Award. 

  
 1 

 Definitions 

The following definitions apply for purposes of this Amendment: 
  

	 	•	 	“Award” means a Restricted Stock Unit Award or Performance Share Award. 

  

	 	•	 	“Award Agreement” means, with respect to an Award, the written or electronic agreement evidencing the Award. 

  

	 	•	 	“Company” means Office Depot, Inc. 

  

	 	•	 	“Eligible Executive” means, with respect to an Award, the member of the Leadership Team to whom the Award is outstanding. 

  

	 	•	 	“Leadership Team” means the members of Company’s Executive Leadership Team specified on Appendix A hereto. 

  

	 	•	 	“Restricted Stock Unit Awards” means the awards of Restricted Stock Units granted to Eligible Executives under the Plan in the Company’s 2016 fiscal year. 

 

	 	•	 	“Performance Share Award” means, with respect to each Eligible Executive, the award of Performance Shares granted to the Eligible Executive under the Plan in the Company’s 2016 fiscal year.

  

	 	•	 	“Plan” means the Office Depot, Inc. 2015 Long-Term Incentive Plan. 

  

	 	•	 	“Subsidiary” has the meaning set forth in the Plan. 

  

			
	OFFICE DEPOT, INC.
		
	By:	 	  

	Name:	 	Roland C. Smith
	Title:	 	Chairman and Chief Executive Officer

  
 2 

 Appendix A 

Steve Hare 
 Michael Allison 

  
 3Exhibit

Exhibit 4.1
THIRD SUPPLEMENTAL INDENTURE
THIS THIRD SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), is made and entered into as of April 20, 2017, by and among TRINITY INDUSTRIES, INC., a Delaware corporation (the “Company”), TRINITY STRUCTURAL TOWERS, INC., a Delaware corporation and wholly owned subsidiary of the Company (the “Guaranteeing Subsidiary”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee under the Indenture referred to below (the “Trustee”).  All capitalized terms used but not otherwise defined herein shall have the meaning given to such terms in the Indenture (as defined below).
W I T N E S S E T H
WHEREAS, the Company has executed and delivered to the Trustee that certain Indenture dated as September 25, 2014 (the “Base Indenture”), as amended by that certain First Supplemental Indenture dated as of September 25, 2014 by an among the Company, the Guarantors and Trustee (the “First Supplemental Indenture”), and as further amended by that certain Second Supplemental Indenture dated as of March 24, 2015 by and among the Company, Trinity Meyer Utility Structures, LLC, a Delaware limited liability company, and Trustee (the “Second Supplemental Indenture”, and together with the Base Indenture and the First Supplemental Indenture, collectively, the “Indenture”), pursuant to which the Company issued its 4.550% Senior Notes due 2024 (collectively, the “Notes”); 
WHEREAS, Section 10.10 of the Base Indenture provides that, if any Subsidiary of the Company becomes a guarantor under the Bank Credit Agreement, then the Company shall promptly cause such Subsidiary to become a Guarantor under the Indenture, and such Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Guaranteeing Subsidiary shall unconditionally guarantee the full and punctual payment of all amounts payable under the Indenture and under the Securities of any series, including the Notes on the terms and conditions set forth herein; 
WHEREAS, Article VI of the First Supplemental Indenture incorporates Article 10 of the Base Indenture and provides that Article 10 is expressly made applicable to the Notes.
WHEREAS, pursuant to Section 9.01(g) of the Base Indenture, the Company and the Trustee are authorized to execute and deliver this Supplemental Indenture without notice to or the consent of any holder of any Securities including the Notes; 
WHEREAS, the Company has furnished the Trustee with an Officers’ Certificate, resolution of its Board of Directors, and an Opinion of Counsel complying with the requirements of Sections 9.05, 11.03 and 11.04 of the Base Indenture; and
WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Company, the Guaranteeing Subsidiary and Trustee, and a valid amendment to the Indenture have been done.
NOW, THEREFORE, for and in consideration of the foregoing premises, it is mutually covenanted and agreed for the equal and proportionate benefit of all Holders of the Notes, as follows:
SECTION 1.AGREEMENT TO GUARANTEE.  The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Indenture including but not limited to Article 10 of the Base Indenture and Article VI of the First Supplemental Indenture, and shall be deemed as a “Guarantor” thereunder for all purposes under the Indenture.

SECTION 2.NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Securities of any Series, the Notes, or the Indenture. nor for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of Securities, including the Notes, waives and releases all such liability.  Such waiver and release are part of the consideration for issuance of Securities of any Series under the Indenture.  The waiver may not be effective to waive liabilities under the federal securities laws.

SECTION 3.EFFECTIVENESS.   Upon the execution and delivery of this Supplemental Indenture between the Company, the Guaranteeing Subsidiary and the Trustee, this Supplemental Indenture shall become effective, and the Indenture and the Notes shall be supplemented in accordance herewith, and this Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities, including the Notes, heretofore or hereafter authenticated and delivered under the Indenture shall be bound hereby.

SECTION 4.RATIFICATION OF INDENTURE.  The Indenture as specifically amended by this Supplemental Indenture is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed.  The execution, delivery and effectiveness of this Supplemental Indenture shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any party hereto under the Indenture or any other document related thereto nor constitute a waiver of any provision thereof.

SECTION 5.GOVERNING LAW.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICT OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

SECTION 6.HEADINGS, ETC.  Section headings of this Supplemental Indenture are inserted for convenience of reference only and are not to be considered part of this Supplemental Indenture for any other purpose.

SECTION 7.COUNTERPARTS.   This Supplemental Indenture may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one contract.  Delivery of an executed counterpart of a signature page to this Supplemental Indenture by facsimile shall be effective as delivery of a manually executed counterpart of this Supplemental Indenture.

SECTION 8.TRUSTEE NOT RESPONSIBLE FOR RECITALS.  The recitals contained herein shall be taken as the statements of the Company, and the Trustee shall not assume any responsibility for their correctness.  Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture.

 [Remainder of Page Intentionally Left Blank;
Signature Page Follows.]

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

GUARANTEEING SUBSIDIARY:
TRINITY STRUCTURAL TOWERS, INC. 
 

By:  /s/ Gail M. Peck            
Gail M. Peck  
Vice President and Treasurer

COMPANY:
TRINITY INDUSTRIES, INC.

 
By:  /s/ Gail M. Peck            
Gail M. Peck  
Vice President, Finance and Treasurer    

TRUSTEE:
WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Trustee

By:  /s/ Michael Tu                
Michael Tu  
Vice President

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