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AMENDED AND RESTATED GUARANTY
THIS AMENDED AND RESTATED GUARANTY (“Guaranty”), dated as of June 1, 2021, is made by Par Petroleum, LLC, a Delaware limited liability company (“Guarantor”), in favor of J. Aron & Company LLC, a New York limited liability company (“Aron”).
RECITALS
WHEREAS, Guarantor made in favor of Aron that certain Guaranty, dated as of December 21, 2017 (the “Original Guaranty”) pursuant to which Guarantor guaranteed certain obligations of Par Hawaii Refining, LLC, a Hawaii limited liability company and a direct subsidiary of Guarantor (the “Company”), in connection with the transactions contemplated by that certain Amended and Restated Supply and Offtake Agreement, between the Company and Aron, dated as of December 21, 2017 (as amended or otherwise modified prior to the date hereof, the “First Amended and Restated S&O Agreement”);
WHEREAS, the Company and Aron desire to amend and restate in its entirety the First Amended and Restated S&O Agreement and have entered into the Second Amended and Restated Supply and Offtake Agreement, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “S&O Agreement”) and certain other Transaction Documents (as defined therein);
WHEREAS, in accordance with the S&O Agreement, the Company and Aron have entered into and will from time to time enter into the transactions contemplated by the S&O Agreement and such other Transaction Documents; and
WHEREAS, in connection with and as required under the S&O Agreement and the other Transaction Documents, and as a condition to Aron entering into the S&O Agreement, Guarantor agrees to provide this Guaranty which amends and restates the Original Guaranty as provided herein.  Guarantor, as the parent of the Company, derives and will continue to derive substantial direct and indirect benefits from Aron’s having entered into the S&O Agreement, the other Transaction Documents and the transactions contemplated thereby (which benefits are hereby acknowledged by Guarantor).
NOW, THEREFORE, to induce Aron to enter into the S&O Agreement and from time to time to enter into the transactions contemplated thereby and by the other Transaction Documents, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby agrees as follows:
1.    Guaranty.  Guarantor hereby unconditionally and irrevocably guarantees to Aron, and its successors and assigns, the full and prompt payment when due (whether at stated maturity, declaration, acceleration, demand or otherwise) and performance of all the liabilities and other obligations of the Company to Aron arising under, out of or in connection with the S&O Agreement, any of the other Transaction Documents or any of the transactions entered into thereunder or in connection therewith, and any and all interest, taxes, fees, charges, costs, expenses and other amounts chargeable by or to Aron under any of the Transaction Documents 
[Signature Page to Amended and Restated Guaranty]

or transactions thereunder, and including interest that accrues after the commencement by or against the Company of any action, case or proceeding involving insolvency, bankruptcy, reorganization, arrangement, adjustment, composition, assignment for the benefit of creditors, liquidation, winding up or dissolution under any applicable laws with respect thereto (an “Insolvency Proceeding”).  The terms “liabilities” and “obligations” are used herein in their most comprehensive sense and include any and all advances, debts, obligations and liabilities, now existing or hereafter arising, regardless of by what instrument, agreement, contract or entry in Aron’s accounts they may be evidenced, or whether evidenced by any instrument, agreement, contract or entry in Aron’s accounts, whether voluntary or involuntary and whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, and whether recovery upon such indebtedness, liabilities and obligations may be or hereafter become unenforceable under title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Bankruptcy Code”) or other applicable law.  The foregoing liabilities and other obligations of the Company, and all other indebtedness, liabilities and obligations to be paid or performed by Guarantor in connection with this Guaranty (including any and all amounts due under Section 11 hereof), shall hereinafter be collectively referred to as the “Obligations.”
2.    Liability of Guarantor.  The liability of Guarantor under this Guaranty shall be irrevocable, absolute, independent and unconditional, and shall not be affected by any circumstance which might constitute a discharge of a surety or guarantor other than the indefeasible payment and performance in full of all Obligations.  In furtherance of the foregoing and without limiting the generality thereof, Guarantor agrees as follows: (i) Guarantor’s liability hereunder shall be the immediate, direct and primary obligation of Guarantor and shall not be contingent upon Aron’s exercise or enforcement of any remedy it may have against the Company or any other Person (as defined, for purposes of this Guaranty, in the S&O Agreement), or against any collateral for any Obligations; (ii) this Guaranty is a guaranty of payment when due and not of collectability; (iii) Aron may enforce this Guaranty upon the occurrence of a default notwithstanding any dispute between Aron and the Company with respect to the existence of such default; (iv) Guarantor’s payment of a portion, but not all, of the Obligations shall in no way limit, affect, modify or abridge Guarantor’s liability for any portion of the Obligations remaining unsatisfied; and (v) Guarantor’s liability with respect to the Obligations shall remain in full force and effect without regard to, and shall not be impaired or affected by, nor shall Guarantor be exonerated or discharged by, (A) any Insolvency Proceeding with respect to the Company, Guarantor, any other guarantor or any other Person; (B) any limitation, discharge, or cessation of the liability of the Company, any other guarantor or any other Person for any Obligations due to any statute, regulation or rule of law, or any invalidity or unenforceability in whole or in part of any of the Obligations; (C) any merger, acquisition, consolidation or change in structure of the Company, Guarantor or any other guarantor or Person, or any sale, lease, transfer or other disposition of any or all of the assets or shares of the Company, Guarantor, any other guarantor or other Person; (D) any assignment or other transfer, in whole or in part, of Aron’s interests in and rights under this Guaranty, including Aron’s right to receive payment of the Obligations, or any assignment or other transfer, in whole or in part, of Aron’s interests in and to any collateral securing the Obligations; (E) any claim, defense, counterclaim or setoff, other than that of prior performance, that the Company, Guarantor, any other guarantor or other Person may have or assert, including any defense of incapacity or lack of corporate or other 
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authority to execute or deliver any of the Transaction Documents, or this Guaranty or any other agreement or document related thereto; (F) any direction of application of payment to the Company, Guarantor, any other guarantor or other Person; and (G) Aron’s vote, claim, distribution, election, acceptance, action or inaction in any Insolvency Proceeding related to the Obligations.
3.    Consents.  Guarantor hereby consents and agrees that, without notice to or further assent from Guarantor: (i) the time, manner, place or terms of any payment or performance of any Obligations may be extended or changed, including, but not limited to, by an increase or decrease in the interest rate on any Obligation or any fee or other amount payable under Transaction Document (or transaction thereunder), by a modification or renewal of such Obligation, Transaction Document (or transaction thereunder) or otherwise; (ii) the time for the Company’s performance of or compliance with any term, covenant or agreement on its part to be performed or observed under any Obligation, Transaction Document or transaction thereunder may be extended, or such performance or compliance waived, or failure in or departure from such performance or compliance consented to, all in such manner and upon such terms as Aron may deem proper; (iii) Aron may discharge or release, in whole or in part, any other guarantor or any other Person liable for the payment and performance of all or any part of the Obligations, and may permit or consent to any such action or any result of such action, and Aron shall not be liable to Guarantor for any failure to collect or enforce payment of the Obligations; (iv) Aron may take and hold security of any kind, at any time, as collateral for the Obligations, and may, from time to time, in whole or in part, exchange, sell, surrender, release, subordinate, modify, waive, rescind, compromise or extend such security and may permit or consent to any such action or the result of any such action, and may apply such security and direct the order or manner of sale thereof; (v) Aron may request and accept other guaranties of the Obligations and may, from time to time, in whole or in part, surrender, release, subordinate, modify, waive, rescind, compromise or extend any such guaranty and may permit or consent to any such action or the result of any such action; and (vi) Aron may exercise, or waive or otherwise refrain from exercising, any other right, remedy, power or privilege granted by any of the Transaction Documents, or otherwise available to Aron, with respect to the Obligations and any collateral therefor, even if the exercise of such right, remedy, power or privilege affects or eliminates any right of subrogation or any other right of Guarantor against the Company; all as Aron may deem advisable, and all without impairing, abridging, releasing or affecting this Guaranty.
4.    Waivers.
(a) Guarantor waives and agrees not to assert: (i) any right to require Aron to proceed against the Company, any other guarantor or any other Person, to proceed against or exhaust any collateral or other security held for the Obligations (except to the extent required by applicable law), to give notice of or institute any public or private sale, foreclosure or other disposition of any collateral or security for the Obligations, including, without limitation, to comply with applicable provisions of the New York Uniform Commercial Code (“UCC”) or any equivalent provision of any other applicable law in connection with the sale, foreclosure or other disposition of any collateral or to pursue any other right, remedy, power or privilege of Aron whatsoever; (ii) any defense arising by reason of any lack of corporate or other authority or any other defense of 
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the Company, Guarantor or any other Person; (iii) any defense based upon Aron’s errors or omissions in the administration of the Obligations; (iv) any rights to set-offs and counterclaims; and (v) without limiting the generality of the foregoing, to the fullest extent permitted by law, any other defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties, or which may conflict with the terms of this Guaranty.  Notwithstanding anything in this Guaranty to the contrary, Guarantor does not waive the defense of payment or any defense to a claim for payment hereunder arising from the failure of Aron to perform its obligations to the Company under the S&O Agreement or any other Transaction Document.

(b) Guarantor waives any and all notice of the acceptance of this Guaranty, and any and all notice of the creation, renewal, modification, extension or accrual of the Obligations, or the reliance by Aron upon this Guaranty, or the exercise of any right, power or privilege hereunder.  The Obligations shall conclusively be deemed to have been created, contracted, incurred and permitted to exist in reliance upon this Guaranty.  Guarantor waives promptness, diligence, presentment, protest, demand for payment, notice of default, dishonor or nonpayment and all other notices to or upon the Company, Guarantor or any other Person with respect to the Obligations.
(c) The obligations of Guarantor hereunder are independent of and separate from the obligations of the Company and any other guarantor and upon the occurrence and during the continuance of any default, a separate action or actions may be brought against Guarantor, whether or not the Company or any such other guarantor is joined therein or a separate action or actions are brought against the Company or any such other guarantor.
(d) Guarantor shall not have any right to require Aron to obtain or disclose any information with respect to (i) the financial condition or character of the Company or the ability of the Company to pay and perform the Obligations; (ii) the Obligations; (iii) any collateral or other security for any or all of the Obligations; (iv) the existence or nonexistence of any other guarantees of all or any part of the Obligations; (v) any action or inaction on the part of the Company or any other Person; or (vi) any other matter, fact or occurrence whatsoever.
5.    Subrogation.  Until the Obligations shall be satisfied in full, Guarantor shall not have, and shall not directly or indirectly exercise, (i) any rights that it may acquire by way of subrogation under this Guaranty, by any payment hereunder or otherwise, (ii) any rights of contribution, indemnification, reimbursement or similar suretyship claims arising out of this Guaranty, or (iii) any other right which it might otherwise have or acquire (in any way whatsoever) which could entitle it at any time to share or participate in any right, remedy or security of Aron as against the Company or other guarantors, whether in connection with this Guaranty or otherwise.  If any amount shall be paid to Guarantor on account of the foregoing rights at any time when any Obligations are outstanding, such amount shall be held in trust for the benefit of Aron and shall forthwith be paid to Aron to be credited and applied to the Obligations.
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6.    Continuing Guaranty.  Guarantor agrees that this Guaranty is a continuing guaranty relating to any Obligations, including Obligations which may exist continuously or which may arise from time to time under successive transactions, and Guarantor expressly acknowledges that this Guaranty shall remain in full force and effect notwithstanding that there may be periods in which no Obligations exist.  This Guaranty shall continue in effect and be binding upon the Guarantor until termination of the Transaction Documents and payment and performance in full of the Obligations. This Guaranty shall continue to be effective or shall be reinstated and revived, as the case may be, if, for any reason, any payment of the Obligations by or on behalf of the Company shall be rescinded or must otherwise be restored, whether as a result of any Insolvency Proceeding or otherwise.  To the extent any payment is rescinded or restored, the Obligations shall be revived in full force and effect without reduction or discharge for such payment.
7.    Payments. Guarantor hereby agrees, in furtherance of the foregoing provisions of this Guaranty and not in limitation of any other right which Aron or any other Person may have against Guarantor by virtue hereof, that upon the failure of the Company to pay any of the Obligations when and as the same shall become due (including amounts that would become due but for the operation of the automatic stay under §362(a) of the Bankruptcy Code), Guarantor shall forthwith pay, or cause to be paid, in cash, to Aron, an amount equal to the amount of the Obligations then due to Aron and unpaid (including interest which, but for the commencement of any Insolvency Proceeding with respect to the Company, would have accrued on such Obligations, whether or not a claim is allowed against the Company for such interest in any such Insolvency Proceeding).  All payments made by Guarantor hereunder shall be applied against the Obligations in such order as Aron shall reasonably determine.  Guarantor shall make each payment hereunder, without deduction (whether for taxes or otherwise), set-off or counterclaim, on the day when due in same day or immediately available funds, and in U.S. dollars.
8.    Representations; Covenants.  
(a) Guarantor represents and warrants to Aron that (i) Guarantor is a limited liability company duly organized, validly existing and in good standing under the law of the jurisdiction of its organization, and has all requisite power and authority to own its assets and carry on its business and to execute, deliver and perform its obligations under this Guaranty; (ii) the execution, delivery and performance by Guarantor of this Guaranty have been duly authorized by all necessary corporate action of Guarantor, and do not and will not result in a breach of or constitute a default under any material agreement, lease or instrument to which Guarantor is a party or by which it or its properties may be bound or affected, or violate any provision of any law, statute, rule, regulation, order, writ, judgment, injunction, decree or the like binding on or affecting Guarantor; (iii) this Guaranty constitutes the legal, valid and binding obligation of Guarantor, enforceable against Guarantor in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application regardless of whether enforcement is sought in a proceeding in equity or at law); and (iv) no authorization, consent, approval, license, exemption of, or filing or registration with, any 
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governmental agency or authority is required for the due execution, delivery or performance by Guarantor of this Guaranty.
(b) So long as this Guaranty shall be in effect, Guarantor (i) will not merge with or consolidate into or sell, transfer, lease or otherwise dispose of (whether in one transaction or in a series of related transactions) all or substantially all of its assets, except that Guarantor may merge with or consolidate into any other Person or sell, transfer, lease or otherwise dispose of all or substantially all of its assets to another Person, provided that the surviving entity or such Person shall expressly assume by an amendment hereto (or, if applicable, by operation of law) all of the obligations of Guarantor hereunder and no default exists; and (ii) will execute, acknowledge, deliver, file, notarize and register at its own expense all such further agreements, instruments, certificates, documents and assurances and perform such acts as Aron shall reasonably deem necessary or appropriate to effectuate the purposes of this Guaranty.
9.    Notices.  All notices and other communications provided for hereunder shall, unless otherwise stated herein, be in writing (including by facsimile or email) and shall be mailed (by certified or registered mail), sent or delivered (i) if to Aron, to J. Aron & Company LLC, 200 West Street, New York, New York 10282, Attention: Legal Department, fax (917) 977-3655; and (ii) if to Guarantor, to Par Hawaii Refining, LLC, 825 Town & Country Lane, Suite 1500, Houston, Texas 77024, Attention: General Counsel, fax (832) 518-5203, or at or to such other address or facsimile number, or email address, as such party shall have designated in a written notice to the other party.  All such notices and communications shall be effective (i) if delivered by hand, sent by certified or registered mail or sent by an overnight courier service, when received; and (ii) if sent by facsimile transmission or electronic mail, when sent.
10.    No Waiver.  No failure on the part of Aron to exercise, and no delay in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights and remedies under this Guaranty are cumulative and not exclusive of any rights, remedies, powers and privileges that may otherwise be available to Aron.
11.    Costs and Expenses.  Guarantor agrees to pay on demand all reasonable costs and expenses of Aron and reasonable fees and disbursements of counsel in connection with the enforcement, or preservation of any rights under, this Guaranty.
12.    Binding Effect; Entire Agreement; Amendments.  This Guaranty shall be binding upon Guarantor and its successors and assigns, and inure to the benefit of and be enforceable by Aron and its successors, endorsees, transferees and assigns; provided that Guarantor shall not have the right to assign or transfer its rights and obligations hereunder without the prior written consent of Aron or as provided pursuant to Section 8(b).  This Guaranty constitutes the entire agreement of Guarantor with respect to the matters set forth herein and supersedes any prior agreements, commitments, discussions and understandings, oral or written, with respect thereto.  There are no conditions to the full effectiveness of this Guaranty.  This Guaranty may not be amended except by a writing signed by Guarantor and Aron.  No waiver of any rights of Aron under any provision of this Guaranty or consent to any departure by Guarantor therefrom shall be 
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effective unless in writing and signed by Aron.  Any such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
13.    Knowing and Explicit Waivers.  Guarantor acknowledges that it has either obtained the advice of legal counsel or has had the opportunity to obtain such advice in connection with the terms and provisions of this Guaranty.  Guarantor acknowledges and agrees that each of the waivers and consents set forth herein, including, without limitation, those contained in Sections 2 through 4, are made with full knowledge of their significance and consequences.  Additionally, Guarantor acknowledges and agrees that by executing this Guaranty, it is waiving certain rights, benefits, protections and defenses to which it may otherwise be entitled under applicable law, and that all such waivers herein are explicit, knowing waivers.  Guarantor further acknowledges and agrees that Aron is relying on such waivers with respect to the Obligations, and that such waivers are a material part of the consideration which Aron is receiving in connection with the Obligations.
14.    Severability.  Whenever possible, each provision of the Guaranty shall be interpreted in such manner as to be effective and valid under all applicable laws and regulations.  If, however, any provision of this Guaranty shall be prohibited by or invalid under any such law or regulation, it shall be deemed modified to conform to the minimum requirements of such law or regulation, or, if for any reason it is not deemed so modified, it shall be ineffective and invalid only to the extent of such prohibition or invalidity without affecting the remaining provisions of this Guaranty.
15.    Law; Submission to Jurisdiction; Jury Trial Waiver.  (i) THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH NEW YORK LAW; (ii) Guarantor hereby (A) submits to the non-exclusive jurisdiction of the courts of the State of New York and the Federal courts of the United States sitting in the State of New York for the purpose of any action or proceeding arising out of or relating to this Guaranty, (B) agrees that all claims in respect of any such action or proceeding may be heard and determined in such courts, (C) irrevocably waives (to the extent permitted by applicable law) any objection which it now or hereafter may have to the laying of venue of any such action or proceeding brought in any of the foregoing courts in and of the State of New York, and any objection on the ground that any such action or proceeding in any such court has been brought in an inconvenient forum, and (D) agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner permitted by law; and (iii) GUARANTOR, BY ITS ACCEPTANCE OF THE TERMS HEREOF, HEREBY WAIVES ITS RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS GUARANTY.
16.    Amendment and Restatement; Consent.  This Guaranty amends and restates the Original Guaranty. The obligations of Guarantor under the Original Guaranty and the guarantee provided therein shall continue under this Guaranty, and shall not in any event be terminated, extinguished or annulled, but shall hereafter be governed by this Guaranty.  All references to the Original Guaranty in any Transaction Document (other than this Guaranty) or other document or instrument delivered in connection therewith shall be deemed to refer to this Guaranty and the 
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provisions hereof. It is understood and agreed that the Original Guaranty is being amended and restated by entry into this Guaranty on the date hereof. Guarantor hereby consents to the amendment and restatement of the First Amended and Restated S&O Agreement pursuant to the S&O Agreement. 
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IN WITNESS WHEREOF, Guarantor has executed and delivered this Guaranty, as of the date first above written.
PAR PETROLEUM, LLC
By /s/ William Monteleone
Name: William Monteleone
Title: Chief Financial Officer

[Signature Page to Amended and Restated Guaranty]Exhibit 10.1

FORM OF BOOT BARN HOLDINGS, INC.
CEO RESTRICTED STOCK UNIT ISSUANCE AGREEMENT
THIS AGREEMENT is dated as of [___], between Boot Barn Holdings, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), and the individual identified in the table below ( “Participant”).
All capitalized terms not defined in this Agreement shall have the meaning assigned to them in the Plan.
1.Grant of Restricted Stock Units.  The Company hereby awards to Participant, as of the Grant Date, an award of restricted stock units (“Restricted Stock Units”) pursuant to the terms of the 2020 Equity Incentive Plan (the “Plan”) and this Agreement (the “Award”).  Each Restricted Stock Unit that vests hereunder shall entitle Participant to receive one share of Stock (a “Share”) on the applicable Issuance Date following the vesting of that Restricted Stock Unit.  The number of Restricted Stock Units subject to the Award, the applicable Vesting Schedule for the Restricted Stock Units, the applicable date or dates on which the Shares underlying the vested Restricted Stock Units shall become issuable to Participant and the remaining terms and conditions governing the Award shall be as set forth in this Agreement.
	Participant:
	[___]

	Grant Date:
	[___]

	Number of Restricted Stock Units Subject to Award:
	[●] Restricted Stock Units

	Vesting Schedule:
	The Restricted Stock Units shall conditionally vest in a series of      successive equal annual installments upon Participant’s completion of each year of employment with the Company and its Affiliates over the -year period measured from the Grant Date (the “Vesting Schedule”).  However, the Restricted Stock Units may be subject to accelerated vesting in accordance with Section 3 below.
Notwithstanding anything herein to the contrary, any vesting references in this Agreement shall be deemed conditional and remain explicitly subject to Participant not being terminated by the Company for Cause (as defined in Section 3 below) at any time.  If Participant’s employment is terminated by the Company for Cause, whether before or after the applicable vesting date, the Restricted Stock Units, whether otherwise conditionally vested or unvested, shall immediately terminate.

	Issuance Schedule:
	The Shares underlying the Restricted Stock Units in which Participant vests in accordance with the Vesting Schedule above or in Section 3 below, shall be issued, subject to the Company’s collection of all applicable income and employment taxes required to be withheld by the Company or any Affiliate (the “Withholding Taxes”), within 60 days following the applicable vesting date (the “Issuance Date”).  The applicable Withholding Taxes are to be collected pursuant to the procedure set forth in Section 6 of this Agreement.  The Restricted Stock Units shall not be earned until the Issuance Date.

2.Limited Transferability.  Prior to actual receipt of the Shares issued pursuant to Restricted Stock Units that vest hereunder, Participant may not transfer any interest in the Award or the underlying Shares.  Any Shares issuable pursuant to vested Restricted Stock Units hereunder but which otherwise remain unissued at the time of Participant’s death may be transferred pursuant to the provisions of Participant’s will or the laws of inheritance.  
3.Termination of Employment.  
A.Termination of Employment.  Except as provided in subsection (B), (C) or (D) below or as otherwise provided in any applicable employment agreement, upon Participant’s voluntary or involuntary termination of employment or other association with the Company and its Affiliates, for any or no reason whatsoever, or the employer entity ceasing to be an Affiliate of the Company, in each case, prior to the applicable vesting date, the Award shall be immediately cancelled with respect to unvested Restricted Stock Units.  Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled Restricted Stock Units.
B.Death or Disability.  If Participant incurs a termination of employment due to death or Disability, the Restricted Stock Units shall, to the extent not then vested or previously forfeited or cancelled, become fully vested upon such termination of employment. 
C.Retirement.  Except as otherwise provided in subsection (D) below, if Participant incurs a termination of employment due to Retirement (as defined below), the Restricted Stock Units shall, to the extent not then vested or previously forfeited or cancelled, continue to vest (and the underlying Shares shall continue to be issued) in accordance with the Vesting Schedule set forth in Section 1 above, but without the requirement that Participant remain in employment or other association with the Company and its Affiliates, subject to Participant’s execution, delivery and non-revocation of a waiver and release of claims in favor of the Company and its Affiliates in a form prescribed by the Company which becomes effective on or prior to the 60th day following the termination date (the “Release”).  Notwithstanding the foregoing, continued vesting post-Retirement is expressly subject to and conditioned upon Participant’s full compliance with any continuing post-employment obligations under the Confidential and Proprietary Information Agreement executed by Participant, or any other such confidentiality, non-solicitation or non-disparagement agreement that Participant entered into with the Company or an Affiliate.  In the event of any breach thereof, any further continued vesting shall immediately cease, and any then unvested Restricted Stock Units shall be deemed immediately cancelled.

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D.Change of Control.  If a Change of Control occurs, outstanding Restricted Stock Units shall be treated as described in this subsection.  Notwithstanding anything to the contrary, the Committee may take such other actions with respect to the Restricted Stock Units as it deems appropriate pursuant to the Plan.  
(i)If the Restricted Stock Units are Assumed in accordance with Section 9 of the Plan, the Restricted Stock Units shall continue to vest (and the underlying Shares shall continue to be issued) in accordance with the Vesting Schedule set forth in Section 1 above and this Section 3 (including, for the avoidance of doubt, Section 3(B)), based on Participant’s continued employment or service with the Company and its Affiliates as set forth herein.
(ii)Notwithstanding subsection (i) above, if the Restricted Stock Units are Assumed in accordance with Section 9 of the Plan, and (a) Participant’s employment is terminated by the Company and its Affiliates without Cause or Participant terminates employment for Good Reason or if Participant’s employment terminates due to Retirement, in each case, upon or within 18 months following the Change of Control and before the applicable vesting date, or (b) Participant’s employment terminates due to Non-Renewal upon or within 12 months following the Change of Control and before the applicable vesting date and Participant executes the Release, which becomes effective on or prior to the 60th day following the termination date and complies with the Continuing Obligations (as defined in the Employment Agreement), then the Restricted Stock Units shall, to the extent not then vested or previously forfeited or cancelled, become fully vested upon such termination of employment.  
(iii)If the Restricted Stock Units are not Assumed in accordance with Section of 9 of the Plan, the Restricted Stock Units shall, to the extent not then vested or previously forfeited or cancelled, become fully vested upon the Change of Control.  
(iv)If Participant’s employment terminates due to Retirement prior to a Change of Control, then any Restricted Stock Units which have not vested pursuant to Section 3(C) above shall become immediately vested upon such Change of Control.
(v)If  (a) Participant’s employment is terminated by the Company and its Affiliates without Cause or due to Non-Renewal or by Participant for Good Reason, (b) within three months following the date of such termination of employment, a Change of Control occurs, (c) Participant executes the Release and it becomes effective on or prior to the 60th day following the Change of Control, and (d) Participant complies with the Continuing Obligations, then any Restricted Stock Units which have not vested pursuant to Section 1 above shall become immediately vested upon such Change of Control.
(vi)Notwithstanding anything in this Agreement to the contrary, to the extent that the Restricted Stock Units constitute nonqualified deferred compensation subject to Section 409A of the Code and the Treasury Regulations thereunder (“Section 409A”), if (A) a Change of Control does not constitute a “change in control event” under Section 409A, or (B) otherwise required by Section 409A, any amounts that are payable pursuant to subsection (ii), (iii) (iv), or (v) above shall be paid within 60 days following the otherwise applicable vesting date.  For 

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the avoidance of doubt, upon a Transaction, the Restricted Stock Units shall be treated in accordance with the terms of this Agreement.  
E.Definitions.
(i)“Good Reason” shall mean the occurrence of any of the following events without Participant’s consent: (a) any material diminution in Participant’s base salary, other than a diminution that was in conjunction with a salary reduction program for similarly-situated employees of the Company or its Affiliates; (b) any material and continuing diminution in Participant’s authority or responsibilities; or (c) changing the geographic location at which Participant provides services to the Company to a location more than 35 miles from both the then existing location and Participant’s residence; provided however, that Participant’s resignation for Good Reason will be effective only if Participant provides written notice to the Company of any event constituting Good Reason within 60 days after Participant becomes aware such event, and the Company does not cure such event within 30 days after receipt of the notice, and provided further that, Participant terminates Participant’s employment within 90 days of the date of Participant’s written notice.  Notwithstanding the foregoing, if Participant and the Company or relevant Affiliate are parties to an employment or similar agreement in effect immediately prior to Participant’s termination which defines good reason, “Good Reason” shall mean “good reason” as defined in said agreement.
(ii)“Non-Renewal” shall mean termination of Participant’s employment due to the Company’s failure to renew the Amended and Restated Employment Agreement dated April 7, 2015 by and between the Boot Barn, Inc. and Participant (the “Employment Agreement”) in accordance with its terms.
(iii)“Retirement” shall mean termination of employment other than for Cause after the earlier of Participant’s attainment of (a) age 60 with 10 consecutive years of service with the Company or its Affiliates or (b) age 65. 
4.Stockholder Rights.  
A.Participant shall not have any stockholder rights, including voting, dividend or liquidation rights, with respect to the Shares underlying the Award until the Award vests and Participant becomes the record holder of those Shares upon their actual issuance following the Company’s collection of the applicable Withholding Taxes.
B.Notwithstanding the foregoing, Participant shall receive Dividend-Equivalent Rights with respect to the Award.  If Shares subsequently become issuable following vesting of the Restricted Stock Units, in one or more installments hereunder, the Dividend-Equivalent Rights credited with respect to those Shares shall vest and shall be distributed to Participant (in cash or such other form as the Committee may deem appropriate in its sole discretion) concurrently with the issuance of those Shares to which they relate. However, each such distribution shall be subject to the Company’s collection of the Withholding Taxes applicable to that distribution.  In no event shall any Dividend-Equivalent Rights vest or become distributable unless and until the Shares to which they relate become issuable upon vesting of the applicable Restricted Stock Units in accordance with the terms of this Agreement.

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5.Adjustment in Shares.  The total number and/or class of securities issuable pursuant to this Award shall be subject to adjustment in accordance with the provisions of Section 8 of the Plan.  
6.Issuance of Shares/Collection of Withholding Taxes.
A.On each applicable Issuance Date, the Company shall issue to or on behalf of Participant a certificate (which may be in electronic form) for the applicable number of Shares, subject, however, to the Company’s collection of the applicable Withholding Taxes.
B.Until such time as the Company provides Participant with notice to the contrary, the Company shall collect the applicable Withholding Taxes with respect to the Shares which become issuable pursuant to Restricted Stock Units that vest hereunder through an automatic share withholding procedure pursuant to which the Company shall withhold, at the time of such issuance, a portion of the Shares with a Market Value (measured as of the applicable Issuance Date) equal to the amount of those taxes; provided; however, that the amount of any Shares so withheld shall not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal and state tax purposes that are applicable to supplemental taxable income or such higher amount approved in advance by the Committee.  In the event payment is to be made in a form other than the Shares, then the Company shall collect from Participant the applicable Withholding Taxes pursuant to such procedures as the Company deems appropriate under the circumstances.
C.Should any Shares become issuable upon vesting of the Restricted Stock Units at a time when the Share withholding method is not available, then the Withholding Taxes shall be collected from Participant pursuant to such procedures as the Company deems appropriate including, without limitation, Participant’s delivery of his or her separate check payable to the Company in the amount of such Withholding Taxes or the use of the proceeds from a next-day sale of the Shares issued to Participant, provided and only if (i) such a sale is permissible under the Company’s insider trading policies governing the sale of Shares; (ii) Participant makes an irrevocable commitment, on or before the vesting date for those Restricted Stock Units related to such Shares, to effect such sale of the Shares; and (iii) the transaction is not otherwise deemed to constitute a prohibited loan under Section 402 of the Sarbanes-Oxley Act of 2002.
D.The Company shall collect the Withholding Taxes with respect to each cash distribution of Dividend-Equivalent Rights by withholding a portion of that distribution equal to the amount of the applicable Withholding Taxes.
E.In no event, shall any fractional Shares be issued.  Accordingly, the total number of Shares to be issued pursuant to this Award shall, to the extent necessary, be rounded down to the next whole share in order to avoid the issuance of a fractional share.
7.Compliance with Laws and Regulations.  The issuance of Shares pursuant to the vesting of the Restricted Stock Units shall be subject to compliance by the Company and Participant with all applicable requirements of law relating thereto and with all applicable regulations of any stock exchange on which the Shares may be listed for trading at the time of such issuance.

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8.Notices.  Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing and addressed to the Company at its principal corporate offices.  Any notice required to be given or delivered to Participant shall be in writing and addressed to Participant at the address indicated below Participant’s signature line on this Agreement.  All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.
9.Successors and Assigns.  Except to the extent otherwise provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and Participant, Participant’s assigns, the legal representatives, heirs and legatees of Participant’s estate and any beneficiaries of the Award designated by Participant.
10.Construction.  This Agreement and the Award evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan.  All decisions of the Committee with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons having an interest in the Award.  This Agreement is intended to be exempt from or comply with the requirements of Code Section 409A.  Accordingly, the provisions of this Agreement shall be interpreted and applied in a manner that satisfies an exemption from Code Section 409A or complies with the applicable requirements of Section 409A.  Notwithstanding the other provisions hereof, if Section 409A applies to the Agreement, (A) any reference to Participant’s termination of employment shall mean Participant’s “separation from service,” as such term is defined under Section 409A (“Separation from Service”), (B) each issuance of Shares under this Agreement shall be treated as a separate payment, (C) if Participant is a “key employee” under Section 409A and if payment of any amount under this Agreement is required to be delayed for a period of six months after Separation from Service pursuant to Section 409A, payment of such amount shall be delayed as required by Section 409A and shall be paid within 15 days after the end of the six-month period or Participant’s death, if earlier, and (D) in no event may Participant, directly or indirectly, designate the calendar year of a payment, and if the time period for executing the Release spans two calendar years, then any payment conditioned on executing the Release shall be made in the second taxable year.  If the Restricted Stock Units become vested other than pursuant to the Vesting Schedule or in accordance with Section 3 of this Agreement, then to the extent required by Section 409A, such vesting shall not accelerate the issuance of the Shares underlying the Restricted Stock Units or any other payments with respect thereto, and the applicable Shares shall be issued and such payments shall be made within 60 days following the date on which such Restricted Stock Units would have otherwise vested pursuant to the Vesting Schedule or in accordance with Section 3 of this Agreement, as applicable.
11.Entire Agreement.  This Agreement and the Plan constitute the entire understanding between Participant and the Company regarding the Award.  Any prior agreements, commitments or negotiations concerning the Award are hereby superseded.  For the avoidance of doubt, this Agreement and the Plan supersede the terms of the Employment Agreement which relate to the grant of equity incentive awards.
12.Employment at Will.  Nothing in this Agreement or in the Plan shall confer upon Participant any right to continue in service for any period of specific duration or interfere 

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with or otherwise restrict in any way the rights of the Company (or any Affiliate employing or retaining Participant) or of Participant, which rights are hereby expressly reserved by each, to terminate Participant’s service at any time for any reason, with or without cause.
​
​

7

Exhibit 10.1

IN WITNESS WHEREOF, the parties have entered into this Restricted Stock Unit Issuance Agreement on the date first set forth above.
BOOT BARN HOLDINGS, INC.
By:   ​ ​
Name:  
Title:  
​
​
PARTICIPANT
​
Signature:​ ​​ ​
Address:​ ​​ ​
​

[Signature Page to Restricted Stock Unit Issuance Agreement]
​

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