Document:

Amendment No. 1 to Employment Agreement - Dennis L. May

 EXHIBIT 10.36 
 AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT 
 THIS
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (the “Amendment”) is made this 30 day of December, 2008 between Gregg Appliances, Inc., an Indiana corporation with a principal place of business at 4151 East 96th Street (the “Company”), and Dennis L. May, an individual residing at 4151 East 96th Street (the “Executive”). 
 WHEREAS, on October 19, 2004, the parties entered into an
Employment Agreement (the “Employment Agreement”); and 
 WHEREAS, the parties wish to amend the Employment Agreement to comply
with the requirements of Section 409A(a)(2), (3) and (4) of the Internal Revenue Code of 1986, as amended, and the final regulations of the Treasury and other applicable guidance promulgated thereunder; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereby amend the Employment Agreement, effective
as of January 1, 2009, as follows: 
 1. Section 4(b)(i) of the Employment Agreement shall be deleted and replaced with the
following: 
 (i) Subject to the provisions of subparagraph 4(b)(ii) and subparagraph 4(b)(v), if, prior to the expiration of
the Term, Executive’s employment is terminated by the Company without Cause, Executive shall be entitled to receive, as “Severance Benefits,” (A) for the remainder of the Term his then current Base Salary, (B) a lump sum
stipend equal to 167% of the product of twenty-four (24) times: (1) the monthly COBRA premium that corresponds, as of the date of Executive’s termination of employment, to the health, dental and vision coverage that Executive had in
effect under the Company’s health, dental and vision plans immediately prior to his termination of employment, and (2) the monthly premium that corresponds, as of the date of Executive’s termination of employment, to the long-term
disability and group term life insurance coverage that Executive had in effect under the Company’s long-term disability and life insurance plans immediately prior to his termination of employment, and (C) for the year in which such
termination occurs, a pro-rated bonus for the portion of such year during which Executive was employed by the Company, contingent, however, on the satisfaction of any performance-based conditions relating to such bonus. The stipend referred to in
clause (B) will be subject to all applicable withholdings and deductions, and will be paid to Executive on the same payroll date as the first installment of Severance Benefits, and Executive may apply the stipend towards Executive’s
purchase of COBRA continuation 

 
coverage, continued benefit coverage, or for any other purpose. Notwithstanding the foregoing, if Executive becomes employed by another employer during the
time that Severance Benefits are payable to Executive pursuant to this paragraph 4(b), the amount of Severance Benefits to which Executive would be entitled in the absence of such other employment shall be reduced by the amount of any compensation
and benefits received or accrued by Executive due to such other employment. Executive shall provide the Company with any evidence of compensation and benefit amounts received or accrued in connection with other employment which the Company shall
reasonably request. Executive shall be under no obligation to look for, solicit or accept employment with another employer during the period he is entitled to receive Severance Benefits. 
 2. Section 4(b)(v) shall be deleted in its entirety and replaced with the following: 
 (vi) Such reduction shall be made in such manner that the remaining Severance Benefits provide Executive with the greatest after-tax
benefit, as determined by the Company’s accountants. 
 3. A new Section 15 shall be added to the Employment Agreement as follows:

 15. Section 409A Compliance. 
 (a) Notwithstanding any other provision of this Agreement, if any amount payable to Executive under this Agreement on account of
Executive’s “Separation from Service” from the Company constitutes deferred compensation within the meaning of and subject to Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations of the Treasury and
applicable guidance of the Internal Revenue Service thereunder (together, “Section 409A”), and Executive is a “Specified Employee” of the Company on the date of his Separation from Service, then payment of such amount shall be
delayed until the first business day that is at least six (6) months after the date on which Executive’s Separation from Service occurs. For these purposes, “Separation from Service” means Executive’s “separation from
service,” as defined in Section 409A(a)(2)(A)(i) and Treas. Reg. Section 1.409A-1(h), from the Company, and “Specified Employee” has the meaning given to that term in Code Section 409A(a)(2)(B)(i) and Treas. Reg.
1.409A-1(i). Notwithstanding the foregoing, such six month delay of payments shall not apply to any payments or benefits that are not subject to Section 409A, including the following: (a) any severance or other payments that qualify as
“short term deferral” payments under Treas. Reg. Section 1.409A-1(b)(4); and (b) any remaining severance or other payments paid after the Executive’s Separation from Service to the extent (i) that the dollar amount of
such payments does not exceed two (2) times the lesser of (x) the Executive’s annualized compensation (based on the Executive’s annual rate of pay for the calendar year preceding the calendar year in which the Separation from
Service occurs, adjusted to reflect any increase during such calendar year which was expected to continue indefinitely had the Executive’s Separation from Service not occurred) and (y) the maximum amount of compensation that may be taken
into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the calendar year in which the Separation from 

  

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Service occurs, and (ii) such severance or other payments are to be made to the Executive no later than the last day of the second calendar year
following the calendar year in which the Separation from Service occurs. For purposes of Section 409A, each payment of severance made on a payroll date and each monthly provision of severance benefits under this Agreement shall be treated as a
right to a series of separate payments, as defined in Treas. Reg. Section 1.409A-2(b)(2). 
 (b) With respect to any
expense reimbursements or in-kind benefits provided hereunder, including, without limitation, under Section 3(d) or Section 4(b)(i), which are not otherwise excludible from the Executive’s gross taxable income, to the extent required
to comply with Section 409A, no reimbursement of expenses incurred by Executive during any taxable year of Executive shall be made after the last day of the following taxable year, the right to reimbursement of any such expenses or such in-kind
benefits shall not be subject to liquidation or exchange for another benefit, and the amount of expenses eligible for reimbursement or in-kind benefits available during any taxable year may not affect the expenses eligible for reimbursement or
in-kind benefits available in any other taxable year. 
 (c) All payments to Executive pursuant to this Agreement are intended
to comply with, or to be exempt from, the requirements of Section 409A. Executive acknowledges that Executive bears the entire risk of any adverse Federal and State tax consequences and penalty taxes in the event any payment pursuant to this
Agreement is deemed to be subject to Section 409A and that no representations have been made to Executive relating to the tax treatment of any payment pursuant to this Agreement under Section 409A and the corresponding provisions of any
applicable State income taxation laws. 
 4. Except as amended hereby, the terms and conditions of the Employment Agreement shall continue
unchanged and remain in full force and effect. 
  

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 IN WITNESS WHEREOF, the Company and the Executive have executed this Amendment effective as of the date
above written. 
  

			
	GREGG APPLIANCES, INC.
		
	By:	 	/s/ Charles Young
		 	 Name: Charles Young
 Title: Chief HR
Officer

	
	Dated: 12/30/08

  

			
	EXECUTIVE
		
	By:	 	/s/ Dennis L. May
		 	Dennis L. May
	
	Dated: 12/30/08

  

 4Twelfth Supplemental Indenture, dated as of Februray 2, 2008.

 Exhibit 10.1 
  
  
 WMG ACQUISITION CORP. 
 Issuer 
 NON-STOP HOLDINGS, INC. 
 FUELED BY RAMEN LLC 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 Trustee 
  
  
 TWELFTH SUPPLEMENTAL INDENTURE 
 Dated as of
February 2, 2009 
 TO 
 INDENTURE 
 Dated as of April 8, 2004 
 as amended 
 U.S. Dollar-denominated 7 3/8% Senior Subordinated Notes due 2014 
 Sterling-denominated 8 1/8% Senior Subordinated Notes due 2014 
  
  

 This TWELFTH SUPPLEMENTAL INDENTURE is dated as of
this 2nd day of February 2009 (the “Twelfth Supplemental Indenture”), among WMG ACQUISITION CORP., a Delaware corporation (the
“Company”), NON-STOP HOLDINGS, INC. AND FUELED BY RAMEN LLC (each, a “Subsidiary Guarantor,” and collectively, the “Subsidiary Guarantors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as indenture trustee (the
“Trustee”). 
 WHEREAS, the Company, the guarantors parties thereto and the
Trustee entered into an Indenture dated as of April 8, 2004, as amended by the First Supplemental Indenture, dated as of November 16, 2004 among the Company, the Trustee, WEA Urban LLC and WEA Rock LLC (since renamed Asylum Records LLC and
East West Records LLC, respectively), as further amended by the Second Supplemental Indenture, dated as of May 17, 2005, among the Company, the Trustee, NonZero, LLC (since renamed Cordless Recordings LLC) and The Biz LLC, as further amended by
the Third Supplemental Indenture, dated as of September 28, 2005, among the Company, the Trustee and Lava Records LLC, as further amended by the Fourth Supplemental Indenture, dated as of October 26, 2005, among the Company, the Trustee
and BB Investments LLC, as further amended by the Fifth Supplemental Indenture, dated as of November 29, 2005, among the Company, the Trustee and Perfect Game Recording Company LLC, as further amended by the Sixth Supplemental Indenture, dated
as of June 30, 2006, among the Company, the Trustee, En Acquisition Corp., Rep Sales, Inc., Restless Acquisition Corp., Ryko Corporation, Rykodisc, Inc., Rykomusic, Inc., Warner Music Austria Beteiligungsmanagement GmbH, Warner Music Austria
Holding GmbH, Warner Music Canada Asset Holdings LLC and Warner Music Investments Luxembourg S.a.r.l., as further amended by the Seventh Supplemental Indenture, dated as of September 29, 2006, among the Company, the Trustee, Alternative
Distribution Alliance, Maverick Recording Company and Maverick Partner Inc., as further amended by the Eighth Supplemental Indenture, dated as of November 29, 2006, among the Company, the Trustee, Atlantic Productions LLC and FBR Investments
LLC, as further amended by the Ninth Supplemental Indenture, dated as of August 3, 2007, among the Company, the Trustee, Atlantic Mobile LLC, Atlantic Scream LLC, Bulldog Entertainment Group LLC, Bulldog Island Events LLC, Griffen Corp. and
Non-stop Music Holdings Inc., as further amended by the Tenth Supplemental Indenture, dated as of November 28, 2007, among the Company, the Trustee, Non-Stop Music Publishing, LLC, Non-Stop Productions, LLC, Non-Stop Music Library, LLC,
Non-Stop International Publishing, LLC, Non-Stop Outrageous Publishing, LLC and Non-Stop Cataclysmic Music, LLC, and as further amended by the Eleventh Supplemental Indenture, dated as of February 5, 2008, among the Company, the Trustee, Rhino
Name & Likeness Holdings, LLC, Rhino/FSE Holdings, LLC and Network Licensing Collection LLC (collectively, the “Indenture”), for the benefit of each other and for the equal and ratable benefit of the Holders of the
U.S. Dollar-denominated 7 3/8% Senior Subordinated Notes due 2014 and the Sterling-denominated 8 1/8% Senior Subordinated Notes due 2014 (the “Notes”). Capitalized terms used herein without definition have the meanings
ascribed to such terms in the Indenture; 
 WHEREAS, Section 4.16 of the Indenture requires the Company to cause certain
Restricted Subsidiaries to execute and deliver a supplemental indenture to the Indenture providing for issuance by such Restricted Subsidiary of a Subsidiary Guarantee of payment of the Notes; 
 WHEREAS, Section 9.01(6) of the Indenture provides that, without the consent of the Holders, the Company and the Trustee, together, may amend or
supplement the Indenture, the Guarantees and the Notes without notice to or consent of any Holder to add a Guarantee of the Notes; 

 WHEREAS, the Company and the Subsidiary Guarantors desire and have requested the Trustee to join with it
in the execution and delivery of this Twelfth Supplemental Indenture; 
 NOW, THEREFORE, in consideration of the addition of the Subsidiary
Guarantors named below as Subsidiary Guarantors hereunder, the Company and each of the Subsidiary Guarantors named below covenant and agree with the Trustee as follows: 
 1. Each of Non-Stop Holdings, Inc. and Fueled by Ramen LLC shall become a Subsidiary Guarantor as of the date of this Twelfth Supplemental Indenture by execution and delivery of this Twelfth Supplemental
Indenture. 
 2. The Indenture, as supplemented and amended by this Twelfth Supplemental Indenture, is in all respects ratified and
confirmed, and the Indenture and this Twelfth Supplemental Indenture shall be read, taken and construed as one and the same instrument. 
 3. If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Twelfth Supplemental Indenture by any of the provisions of the Trust Indenture Act, such required
provision shall control. 
 4. All covenants and agreements in this Twelfth Supplemental Indenture by the Company and each of the
Subsidiary Guarantors shall bind their respective successors and assigns, whether so expressed or not. 
 5. In case any provision in
this Twelfth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 6. Nothing in this Twelfth Supplemental Indenture, expressed or implied, shall give to any Person, other than the parties hereto and their
successors hereunder, and the Holders any benefit or any legal or equitable right, remedy or claim under this Twelfth Supplemental Indenture. 
 7. THIS TWELFTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8. This Twelfth Supplemental Indenture shall comply with the Trust Indenture Act as then in effect. 
 9. The Twelfth Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 
 10. In case any one or more of the provisions of this Twelfth Supplemental Indenture or in the Notes shall be held invalid, illegal or
unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all of
the provisions hereof shall be enforceable to the full extent permitted by law. 
  

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 11. The recitals contained herein shall be taken as statements of the Issuer and each of the
Subsidiary Guarantors, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of the Indenture, this Twelfth Supplemental Indenture or of the Notes and shall not be
accountable for the use or application by the Company of the Notes or the proceeds thereof. 
  

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 IN WITNESS WHEREOF, the parties have executed this Twelfth Supplemental Indenture as of the date first
written above. 
  

			
	WMG ACQUISITION CORP.
		
	By:	 	 /s/ Paul Robinson

	Name:	 	Paul Robinson
	Title:	 	Executive Vice President, General Counsel and Secretary
	
	NON-STOP HOLDINGS, INC.
		
	By:	 	 /s/ Paul Robinson

	Name:	 	Paul Robinson
	Title:	 	Vice President
	
	FUELED BY RAMEN LLC
		
	By:	 	 /s/ Paul Robinson

	Name:	 	Paul Robinson
	Title:	 	Vice President

  

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	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION,
as Indenture Trustee

		
	By:	 	 /s/ Raymond Delli Colli

	Name:	 	Raymond Delli Colli
	Title:	 	Vice President

  

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