Document:

Exhibit 10.1

		

			Exhibit 10.1

		

		
			TUTOR PERINI CORPORATION
		

		
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			Amendment No. 1 to Amended and Restated Employment Agreement
		

		
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			Ronald N. Tutor
		

		
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			DATED:  January 5, 2018
		

		
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			WHEREAS,  Tutor Perini Corporation, a Massachusetts corporation (hereinafter referred to as “Employer”) and Ronald N. Tutor (“Executive”), entered into an Amended and Restated Employment Agreement on December 22, 2014 (the “Agreement”); 
		

		
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			WHEREAS, pursuant to Section 20 of the Agreement, the Employer and Executive now wish to amend the Agreement as set forth herein, effective as of the Effective Date; 
		

		
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			WHEREAS, Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Agreement. 
		

		
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			NOW, THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to amend the Agreement as set forth herein.
		

		
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			FIRST: The Agreement is hereby amended by removing the first sentence in Section 3 and replacing it with the following sentence:
		

		
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			“The initial term of employment under this Agreement shall be for a period commencing on the Effective Date and ending on December 31, 2021 (the “Initial Term”).”
		

		
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			SECOND: The Agreement is hereby amended by removing the provisions of Section 6(b) and replacing it contents with the following:
		

		
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			“Executive shall be paid an Annual Bonus to the extent earned based on performance against objective performance criteria. The performance criteria for any particular calendar year shall be established by the Compensation Committee of the Board (the “Compensation Committee”) no later than 90 days after the commencement of such calendar year or at such other time as determined by the Compensation Committee. Executive’s Annual Bonus for a calendar year shall be no less than 150% of his Base Salary for that year if target levels of performance for that year (as established by the Compensation Committee when the performance criteria for that year are established) are achieved, with greater amounts (up to 300% of Executive’s Base Salary) or lesser amounts (including zero) paid for performance above and below target (such greater and lesser amounts to be determined by a formula established by the Compensation Committee for that year when it establishes the targets and performance criteria for that year). Executive’s Annual Bonus for a calendar year shall be determined by the Compensation 
		

		 

 

		Committee after the end of the calendar year and shall be paid to Executive when annual bonuses for that year are paid to other senior executives of the Employer, generally, but in no event later than March 15 of the following calendar year. Executive shall be eligible to earn and be paid an Annual Bonus for each year that the Executive remains employed through December 31 of that year. In carrying out its functions under this Section 6(b), the Compensation Committee shall at all times act reasonably and in good faith, and they shall consult with Executive to the extent appropriate.”
		

		
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			THIRD: The Agreement is hereby amended by adding the following new Section 6(d)(3) thereto:
		

		
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			“(3) Employer will provide Executive with the following new equity awards, 50% of which are performance-based, during the Initial Term of the Employment Agreement with the stated objectives to retain the Executive, reward superior performance and provide significant incentives for Executive:
		

		
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						Approximate Date of 

				
	
					
						Award

					
					
						Criteria

					
					
						Type

					
					
						#

					
					
						Award

					
					
						Grant/Setting Targets

					
					
						Vesting

				
	
					
						1A

					
					
						Performance

					
					
						RSUs

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2019

				
	
					
						1B

					
					
						Performance

					
					
						RSUs

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/01/2019

					
					
						12/31/2020

				
	
					
						1C

					
					
						Performance

					
					
						RSUs

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/01/2020

					
					
						12/31/2021

				
	
					
						1D

					
					
						Time

					
					
						RSUs

					
					
						 150,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						01/04/2021

				
	
					
						1E

					
					
						Time

					
					
						RSUs

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2021

				
	
					
						2A

					
					
						Performance

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2019

				
	
					
						2B

					
					
						Performance

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/01/2019

					
					
						12/31/2020

				
	
					
						2C

					
					
						Performance

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/01/2020

					
					
						12/31/2021

				
	
					
						2D

					
					
						Time

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2019

				
	
					
						2E

					
					
						Time

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2020

				
	
					
						2F

					
					
						Time

					
					
						Options

					
					
						   75,000 

					
					
						01/05/2018

					
					
						01/05/2018

					
					
						12/31/2021

				

		
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			The above performance-based awards will be subject to performance criteria to be established by the Compensation Committee. In each case above, both the time-based and performance-based awards are subject to the Executive’s continued employment with the Company through the vesting period, unless early vesting occurs under Section 10.”
		

		
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			FOURTH: The Agreement is hereby amended by removing the last sentence in Section 6(f) and replacing it with the following sentence:
		

		
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		“While employed with the Company, the Employer will provide Executive with life insurance coverage related to the Employer’s standard life insurance policies. In addition, through the earlier of April 12, 2031 or the Executive’s death, Employer will provide Executive with a separate life insurance policy providing for the payment of $10 million in the event of the Executive’s death provided that either (i) Executive remains employed through the Initial Term, (ii) during the Initial Term Executive dies or otherwise terminates his employment only with Good Reason pursuant to Section 9(a)(iii), or (iii) Employer terminates Executive’s employment during the Initial Term for any reason other than for Cause pursuant to Section 9(a)(ii)(B).”
		

		
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			FIFTH: “Annual Bonus” means an annual cash performance bonus in respect of each calendar year that ends during the Employment Period, to the extent earned based on performance against objective performance criteria.
		

		
			SIXTH: The Agreement is hereby amended by removing the definition of “Target Bonus” in Section 27 and replacing it with the following definition:
		

		
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			““Target Bonus” means an amount equal to 150% of Executive’s Base Salary, as set forth in Section 6.”
		

		
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			SEVENTH: Except as specifically modified herein, the Agreement shall remain in full force and effect in accordance with all of the terms and conditions thereof.
		

		
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			IN WITNESS WHEREOF, the parties hereto have executed this Amendment to the Agreement as of the date first written above.
		

		
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						Tutor Perini Corporation

				
	
					
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						By:

					
					
						/s/ Gary G. Smalley

				
	
					
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						Name:

					
					
						Gary G. Smalley

				
	
					
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						Title:

					
					
						Executive Vice President and Chief Financial Officer

				
	
					
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						Ronald N. Tutor

				
	
					
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						/s/ Ronald N. Tutor

				
	
					
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			﻿EX-10.1

 Exhibit 10.1 

RETIREMENT AND RELEASE AGREEMENT 

THIS RETIREMENT AND RELEASE AGREEMENT (this “Release”) is made by and between ALLEN WEINSTEIN (“Employee”)
and DESTINATION MATERNITY CORPORATION (the “Company”). 
 WHEREAS, Employee has decided to retire from the Company’s
Board of Directors (the “Board”) effective at the close of business on January 2, 2018 (the “Effective Time”); and 

WHEREAS, in light of that retirement, the Company has agreed to terminate Employee’s employment as interim Chief Executive Officer at the
Effective Time; and 
 WHEREAS, in recognition of Employee’s service to the Company and to obtain a release from Employee, the Company,
subject to Employee’s execution and non-revocation of this Release, has agreed to pay Employee a certain sum upon his termination by the Company pursuant to the Letter Agreement by and between the Company
and Employee dated September 7, 2017 (the “Agreement”) and certain additional amounts as set forth herein. 
 NOW
THEREFORE, in consideration of these premises and the mutual promises contained herein, and intending to be legally bound hereby, the parties agree as follows: 

1.    Retirement and Consideration. 

1.1.    Employee hereby retires as an officer and director of the Company and each of its subsidiaries and affiliates, in
each case, effective as of the Effective Time. 
 1.2.    Employee’s employment as interim Chief Executive
Officer of the Company is hereby terminated effective as of the Effective Time. 
 1.3.    The Company will, in exchange
for and contingent upon Employee’s execution and non-revocation of this Release, provide Employee with: (a) a lump sum payment of the $50,000 bonus (as set forth in the Section of the Agreement
entitled “Bonus”) payable upon termination of Employee’s employment by the Company, which shall be paid as soon as practicable following the date on which the Release becomes effective; (b) continuation of Employee’s base
salary at the current rate through and including February 3, 2018, the end of the Company’s current fiscal year, such payments to be paid in accordance with the Company’s normal payroll practices; (c) payment of Employee’s
reasonable legal fees to negotiate this Agreement, up to $10,000; and (d) reimbursement of all of Employee’s business expenses incurred on or before January 2, 2018, in accordance with the Company’s expense reimbursement policy
for senior executives and members of the Board. 
 1.4.    Employee acknowledges that: (i) the payments, rights and
benefits set forth in Section 1.3 above constitute full settlement of all his rights under the Agreement, (ii) he has no entitlement under any other severance or similar arrangement maintained by the Company, and (iii) except as
otherwise provided specifically in this Release, the Company does not and will not have any other liability or obligation to Employee. Employee further acknowledges that, in the absence of his execution and
non-revocation of this Release, the payments specified in Section 1.3(b) and 1.3(c) above would not be provided to him. 

 2.    Employee’s Release. 

2.1.    Employee hereby fully and forever releases and discharges the Company, its parent and subsidiary corporations and
each of their predecessors, successors, assigns, stockholders, affiliates, officers, directors, trustees, employees, agents and attorneys, past and present (the Company and each such person or entity is referred to as a “Released
Person”) from any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, controversies, debts, costs, expenses, damages, judgments, orders and liabilities, of whatever kind or
nature, direct or indirect, in law, equity or otherwise, whether known or unknown, arising through the date of this Release out of Employee’s employment by the Company or the termination thereof, including, but not limited to, any claims for
relief or causes of action under the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., or any other federal, state or local statute, ordinance or regulation regarding discrimination in employment and any claims, demands or
actions based upon alleged wrongful or retaliatory discharge or breach of contract under any state or federal law. 

2.2.    Employee expressly represents that he has not filed a lawsuit or initiated any other administrative proceeding
against a Released Person and that he has not assigned any claim against a Released Person. Employee further promises not to initiate a lawsuit or to bring any other claim against the other arising out of or in any way related to Employee’s
employment by the Company or the termination of that employment. This Release will not prevent Employee from filing a charge with the Equal Employment Opportunity Commission (or similar state agency) or participating in any investigation conducted
by the Equal Employment Opportunity Commission (or similar state agency); provided, however, that any claims by Employee for personal relief in connection with such a charge or investigation (such as reinstatement or monetary damages) would
be barred. 
 2.3.    The foregoing will not be deemed to release the Company from (a) claims solely to enforce
Section 1.3 of the Release, (b) claims for benefits (not including severance benefits), if any, under the Company’s employee welfare benefit plans and employee pension benefit plans, subject to the terms and conditions of those plans,
or (c) claims for indemnification under the Company’s By-Laws or policies of insurance. 

3.    Company Release. 

3.1.    The Company hereby fully and forever releases and discharges Employee and his executors, administrators and heirs
from any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, controversies, debts, costs, expenses, damages, judgments, orders and liabilities, of whatever kind or nature, direct or
indirect, in law, equity or otherwise, whether known or unknown, arising through the date of this Release out of Employee’s service to the Company or the termination thereof. 

  
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 3.2.    The Company expressly represents that it has not filed a lawsuit or
initiated any other administrative proceeding against Employee and that it has not assigned any claim against Employee. The Company further promises not to initiate a lawsuit or to bring any other claim against Employee arising out of or in any way
related to Employee’s service to the Company or the termination thereof. 
 3.3.    The foregoing will not be
deemed to release Employee from claims (a) arising from acts or omissions by Employee prior to the Effective Time that would constitute a crime or willful misconduct or (b) that are not known to any member of the Company’s Board of
Directors (provided that a claim will be deemed known if the basis for each material element of the claim could have been ascertained by the Board of Directors prior to the date hereof upon reasonable inquiry). 

4.    Non-Disparagement. Employee will not disparage any Released Person or
otherwise take any action which could reasonably be expected to adversely affect the personal or professional reputation of any Released Person. Similarly, the Company (meaning, solely for this purpose, the executive officers and directors of the
Company and other persons authorized to make official communications on behalf of the Company) will not disparage Employee or otherwise take any action which could reasonably be expected to adversely affect the personal or professional reputation of
Employee. Notwithstanding the foregoing, in no event will any legally required disclosure or action be deemed to violate this Section, regardless of the content of such disclosure or the nature of such action. 

5.    Disclosures. Employee and the Company agree that nothing in this Agreement prevents or prohibits Employee
from (i) making any disclosure of relevant and necessary information or documents in connection with any charge, action, investigation, or proceeding relating to this Agreement, or as required by law or legal process; (ii) participating,
cooperating, or testifying in any charge, action, investigation, or proceeding with, or providing information to, any self-regulatory organization, governmental agency or legislative body, and/or pursuant to the Sarbanes-Oxley Act, or
(iii) filing, testifying, participating in or otherwise assisting in a proceeding relating to an alleged violation of any federal, state or municipal law relating to fraud, or any rule or regulation of the Securities and Exchange Commission or
any self-regulatory organization. To the extent permitted by law, upon receipt of any subpoena, court order or other legal process compelling the disclosure of any such information or documents, Employee agrees to give prompt written notice to the
Company so as to permit the Company to protect its interests in confidentiality to the fullest extent possible. 

6.    Cooperation. Employee further agrees that, subject to reimbursement of his reasonable expenses, he
will cooperate fully with the Company and its counsel with respect to any matter (including litigation, investigations, or governmental proceedings) in which Employee was in any way involved during his employment with the Company. Employee will
render such cooperation in a timely manner on reasonable notice from the Company, provided that the Company will attempt to limit the need for Employee’s cooperation under this Section so as not to unduly interfere with his other personal and
professional commitments. 

  
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 7.    Notice. Any notice or communication required or permitted under
this Agreement shall be made in writing and sent by certified or registered mail, return receipt requested, addressed as follows: 
 If to
Employee: to the address in the Company’s personal file. 
 If to Company: 

Destination Maternity Corporation 

232 Strawbridge Drive 

Moorestown, New Jersey 08057 

Attn: General Counsel 
 or to such other address
as either party may from time to time duly specify by notice given to the other party in the manner specified above. 

8.    Rescission Right. Employee expressly acknowledges and recites that (a) he
has read and understands the terms of this Release in its entirety, (b) he has entered into this Release knowingly and voluntarily, without any duress or coercion; (c) he has been advised orally and is hereby
advised in writing to consult with an attorney with respect to this Release before signing it; (d) he was provided 21 calendar days after receipt of the Release to consider its terms before signing it; and
(e) he is provided 7 calendar days from the date of signing to terminate and revoke this Release, in which case this Release shall be unenforceable, null and void. Employee may revoke this Release during those 7 days by providing
written notice of revocation to the Company at the address specified in Section 7 herein. 

9.    Challenge. If Employee violates or challenges the enforceability of this Release, no further payments,
rights or benefits under Section 1.3 of the Release (or under the Section of the Agreement entitled “Bonus”) will be due to Employee. 

10.    Miscellaneous. 

10.1.    No Admission of Liability. This Release is not to be construed as an admission of any violation of any
federal, state or local statute, ordinance or regulation or of any duty owed by the Company to Employee. There have been no such violations, and the Company specifically denies any such violations. 

10.2.    Severability. Whenever possible, each provision of this Release will be interpreted in such manner as to
be effective and valid under applicable law. However, if any provision of this Release is held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provision, and this
Release will be reformed, construed and enforced as though the invalid, illegal or unenforceable provision had never been herein contained. 

10.3.    Entire Agreement; Amendments. Except as otherwise provided herein, this Release contains the entire
agreement and understanding of the parties hereto relating to the subject matter hereof, and merges and supersedes all prior and contemporaneous discussions, agreements and understandings of every nature relating to the subject matter hereof. This
Release may not be changed or modified, except by an agreement in writing signed by each of the parties hereto. 

  
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 10.4.    Governing Law. This Release shall be governed by, and
enforced in accordance with, the laws of the Commonwealth of Pennsylvania, without regard to the application of the principles of conflicts of laws. 

10.5.    Counterparts and Facsimiles. This Release may be executed, including execution by facsimile signature, in
multiple counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 

[Signature page follows.] 

  
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 IN WITNESS WHEREOF, the Company has caused this Release to be executed by its duly authorized
officer, and Employee has executed this Release, in each case on the date indicated below, respectively. 
  

			
	DESTINATION MATERNITY CORPORATION
		
	By:	 	 /s/ Ronald Masciantonio

	Name & Title:	 	Ronald J. Masciantonio, Executive VP and Chief Administrative Officer
		
	Date:	 	January 2, 2018
	
	ALLEN WEINSTEIN
	
	 /s/ Allen Weinstein

		
	Date:	 	January 2, 2018

  
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