Document:

EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT, dated as of January 29, 2015, is made by and between Popeyes Louisiana Kitchen, Inc., a Minnesota
corporation (the “Company”), and S. Kirk Kinsell, a director of the Company (“Director”). 
 WHEREAS, Director is
a member of the Board of Directors of the Company; and 
 WHEREAS, it will be difficult to retain directors of the Company unless such
directors are adequately indemnified against liabilities incurred and claims made in performance of their duties as directors of the Company; and 

WHEREAS, it is in the best interests of the Company to retain such directors by providing adequate indemnification by means of indemnification
agreements with individual directors. 
 NOW, THEREFORE, in consideration of Director’s continued service as a director of the Company,
and as an inducement to Director to continue to serve as a director of the Company, the Company and Director agree as follows: 
 1.
Indemnification. The Company agrees to indemnify and hold Director harmless from and against any claims, liabilities, damages, judgments, penalties, fines or expenses of any type whatsoever incurred by Director in or arising out of the
status, capacities or activities of Director as a director of the Company to the maximum extent permitted under Minnesota Statutes, Section 302A.521 (attached hereto as Exhibit A) as in effect on the date hereof. 

2. Advances of Expenses. Subject to Director’s execution of a written affirmation, satisfactory to the Company, of the
Director’s good faith belief that the criteria for indemnification have been satisfied and to repay all amounts advanced by the Company if it is ultimately determined that the criteria for indemnification have not been satisfied, the Company
shall advance all expenses incurred by Director in connection with the investigation, defense, settlement or appeal of any proceeding, action or investigation to which Director is a party or is threatened to be made a party arising out of the
status, capacities or activities of Director as a director of the Company to the maximum extent permitted under Minnesota Statutes, Section 302.521, subd. 3 as in effect on the date of this Agreement upon the determination by the Company that
the facts then known to those making the determination would not preclude indemnification under Section 502A.521, subd. 6 within 60 days after receipt of said written affirmation. Director shall have a reasonable right to appear in person and
to be represented by counsel. 
 3. Other Rights of Directors. The right of Director to indemnification or advance of expenses
pursuant to this Agreement shall not be exclusive of other rights Director may have (i) under applicable law, (ii) pursuant to other agreements between the Company and Director or the Company’s Articles of Incorporation or Bylaws, or
(iii) pursuant to any agreement with a third party (by way of insurance, indemnification or otherwise). 

 4. Absolute Right to Indemnification and Advances of Expenses. The Company agrees that it
shall not, and the Company hereby waives all rights that it has or may have to, refuse to indemnify or advance expenses, or withhold payment of amounts for which Director is indemnified hereunder, or for advance of expenses to Director, based on any
breach or alleged breach of any of the provisions of this Agreement by Director or for any other reason whatsoever. In the event Director is required to bring any action to enforce Director’s rights or to collect monies due to Director under
this Agreement, and is successful in such action, the Company shall reimburse Director for all of Director’s legal fees and expenses in bringing and pursuing such action. 

5. Amendments to Minnesota Statutes or Company’s Articles of Incorporation or Bylaws. The Company represents that its Bylaws
provide for indemnification of Director to the maximum extent permitted by Minnesota Statutes, Section 302A.521 as in effect on the date hereof and to the maximum extent required by this Agreement. The Company shall not amend its Articles of
Incorporation or Bylaws to reduce or eliminate the Director’s right to indemnification or advances provided for under this Agreement. Any amendments to the Articles of Incorporation or Bylaws of the Company made subsequent to the date of this
Agreement which reduce or eliminate rights of persons entitled to indemnification or advances under such Articles of Incorporation or Bylaws shall not limit the rights of Director pursuant to this Agreement. If the Minnesota Statutes, the Articles
of Incorporation or the Bylaws of the Company are amended so as to provide for greater indemnification rights or benefits, and Director shall be entitled to such greater rights or benefits, and Director shall be entitled to such greater rights and
benefits immediately upon such amendment. Subsequent amendments to the Minnesota Statutes or other applicable law shall in no way reduce Director’s rights under this Agreement. 

6. Maintenance of Insurance. The Company represents that it presently has in force and effect directors and officers insurance under
directors’ and officers’ liability insurance policies covering certain liabilities which may be incurred by its officers and directors. The Company may maintain in effect, for the benefit of Director, directors’ and officers’
insurance providing such coverage as may, from time to time, be determined by the Board of Directors of the Company, in its absolute discretion. 

7. Notification. Promptly after receipt by Director of the Company of any notice or document respecting the commencement of any action,
suit, proceeding or investigation naming or involving Director and relating to any matter concerning which Director may be entitled to indemnification or advances pursuant to this Agreement, the party receiving notice will notify the other of the
receipt of same, but the failure by Director to so notify the Company shall not relieve the Company from any obligation under this Agreement or otherwise. 

8. Amendment. This Agreement may be amended at any time by written instrument executed by the Company and Director. 

  
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 9. Notices. All notices and other communications between the parties with respect to this
Agreement must be made in writing and shall be deemed to have been fully delivered as of the date on which they are hand delivered or deposited in the United States mail for delivery by registered or certified mail, postage and fees prepaid. 

10. Binding Effect. Due to the personal nature of the services to be rendered by Director, Director may not assign this Agreement.
Subject to the foregoing, the provisions of this Agreement are binding upon and inure to the benefit of (i) Director and Director’s respective heirs, legal representatives and administrators, and (ii) the Company and its successors,
transferees and assigns. 
 11. Survival. The obligations of the Company to Director as provided in this Agreement shall survive and
continue after Director has ceased to be a director of the Company. 
 12. Validity. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

13. Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be discussed between the parties
in a good faith effort to arrive at a mutual settlement of any such controversy. If, notwithstanding the parties’ good faith efforts, a dispute remains unresolved for a period of 45 days after initial notice from one party to the other of the
dispute, the parties shall submit such dispute to arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award may be entered in any court having jurisdiction over the controversy. The costs of the
proceeding shall be paid by the Company. Unless otherwise agreed upon, the place of arbitration proceedings shall be Fulton County, Georgia. 

14. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written. 

 

			
	POPEYES LOUISIANA KITCHEN, INC.
		
	By:	 	 /S/ CHERYL A. BACHELDER

		 	Cheryl A. Bachelder, Chief Executive Officer
	
	 /S/ S. KIRK KINSELL

	S. Kirk Kinsell, Director

  
 3TIER EX 10.1

Exhibit 10.1

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is made as of the 27th day of January 2015, between Scott W. Fordham (the “Executive”) and TIER REIT, Inc. (formerly known as Behringer Harvard REIT I, Inc.), a Maryland corporation (the “Company”), and Tier Operating Partnership LP (formerly known as Behringer Harvard Operating Partnership I LP), a Texas limited partnership (the “Operating Partnership” and together with the Company, the “Employers”).
WHEREAS, the Executive and the Employers entered into that certain Employment Agreement, dated September 1, 2012, as amended (the “Agreement”), pursuant to which the Executive is currently employed by the Employers; and
WHEREAS, the Executive and the Employers mutually desire to amend the Agreement to (a) adjust the percentages for target annual cash incentive compensation and target annual long-term incentive award and (b) address the possibility of the imposition of excise taxes under certain circumstances;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuation consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree to amend the Agreement as follows:
1.Recitals.  The recitals contained in this Amendment are hereby incorporated into, and made an integral part of, this Amendment.  All defined terms used herein that are not otherwise defined shall have the same meaning ascribed to them in the Agreement.    
2.    Cash Incentive Compensation.  The second sentence of Section 2(b) is hereby amended and restated as follows:
“(b)  The Executive’s target annual cash incentive compensation shall be 120% of his base salary.”
3.    Long-Term Equity Incentive Awards.  The second sentence of Section 2(c) is hereby amended and restated as follows:
“(c)  The Executive’s target annual long-term incentive award shall be equal to at least 82% of his combined base salary and target annual cash incentive compensation attributable to such calendar year during the Term.”
4.    Special Tax Provision.  The Agreement is hereby amended by deleting Section 5(c) in its entirety and substituting the following:
“(c)    Special Tax Provision.
(i)    Tax Gross-Up Payment for Excise Taxes.  This Section 5(c)(i) shall apply if the shares of the Company’s common 

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Exhibit 10.1

stock, $0.0001 par value (the “Shares”), are not listed on a national securities exchange. 
(A)    Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that the amount of any compensation, payment or distribution by the Employers to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”) and the Executive’s Aggregate Payments result in the Executive receiving total “parachute payments” within the meaning of Section 280G(b)(2) of the Code, which equal at least 110 percent of the maximum amount the Executive would be entitled to receive without being subject to the Excise Tax (the “Maximum Amount”), then the Executive shall be entitled to receive an additional payment or payments (collectively, the “Gross-Up Payment”) such that the net amount retained by the Executive, after deduction of any Excise Tax on the Aggregate Payments, any Federal, state, and local income tax, employment tax and Excise Tax upon the payment provided by this Section 5(c)(i)(A), and any interest and/or penalties assessed with respect to such Excise Tax, shall be equal to the Aggregate Payments.
(B)    Subject to the provisions of Section 5(c)(i)(C) below, all determinations required to be made under this Section 5(c), including whether a Gross-Up Payment is required and the amount of such Gross-Up Payment, shall be made by a nationally recognized accounting firm selected by the Employers (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Employers and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Employers or the Executive.  For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the Gross-Up Payment is to be made, and state and local income 

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Exhibit 10.1

taxes at the highest marginal rates of individual taxation in the state and locality of the Executive’s residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.  The Gross-Up Payment, if any, as determined pursuant to this Section 5(c)(i)(B), shall be paid to the relevant tax authorities as withholding taxes on behalf of the Executive at such time or times when each Excise Tax payment is due.  Any determination by the Accounting Firm shall be binding upon the Employers and the Executive.
(C)    If the Internal Revenue Service adjusts the computation of the Employers and as a result, the Executive did not receive a sufficient Gross-Up Payment, the Employers shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as reasonably determined by the Compensation Committee.  If, after a Gross-Up Payment by the Employers on behalf of the Executive pursuant to this Section 5(c)(i)(A), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall promptly pay to the Employers the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto).
(D)    If the Executive’s Aggregate Payments would result in less than 110 percent of the Maximum Amount, the Executive’s Aggregate Payments shall be capped at the Maximum Amount.  Any reduction shall be in the order provided in Section 5(c)(ii)(A) below.
(ii)    Additional Limitation.  This Section 5(c)(ii) shall apply if the Shares are listed on a national securities exchange.
(A)    Anything in this Agreement to the contrary notwithstanding, in the event that the Aggregate Payments would be subject to the Excise Tax, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the Aggregate Payments shall be $1.00 less than the amount at which the Executive becomes subject to the Excise Tax; provided that such reduction shall only occur if it would result in the Executive receiving a higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction.  In such event, the Aggregate Payments shall be reduced in 

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Exhibit 10.1

the following order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code:  (1) cash payments not subject to Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c).
(B)    For purposes hereof, the “After Tax Amount” means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments.  For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 
(C)    The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 5(c)(ii) shall be made by the Accounting Firm, which shall provide detailed supporting calculations both to the Employers and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Employers or the Executive.  Any determination by the Accounting Firm shall be binding upon the Employers and the Executive.”
5.    Binding Effect of Amendment.  This Amendment shall be binding on all successors and assigns of the parties hereof.
6.    Severability.  The enforceability or invalidity of any provision of this Amendment shall not affect the enforceability or validity of any other provision.  
7.    Headings.  The headings have been inserted solely as a matter of convenience to the parties and shall not affect the construction or meaning thereof.  

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Exhibit 10.1

8.    Ratification.  The Executive and the Employers hereby ratify and confirm their respective obligations under the Agreement, as modified by this Amendment.  If any inconsistency exists or arises between the terms of the Agreement and the terms of this Amendment, the terms of this Amendment shall prevail.  

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Exhibit 10.1

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first set forth above.
TIER REIT, INC.

By:  /s/ Telisa Webb Schelin    
Name:  Telisa Webb Schelin
Title:    Senior Vice President - Legal

TIER OPERATING PARTNERSHIP LP 

By:     Tier GP, Inc.,
its General Partner 
 

By:  /s/ Telisa Webb Schelin    
Name:    Telisa Webb Schelin
Title:    Senior Vice President - Legal

EXECUTIVE:

  /s/ Scott W. Fordham    
Scott W. Fordham

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