Document:

Corporate  Office Employee Bonus Plan for 2010

 Exhibit 10.21 

 

 

 Corporate Office 
 Employee Bonus Program 
 2010 
  
  

 1 

 SBARRO 
 Corporate Office Employee Bonus Plan 
 Purpose – The purpose of this Bonus Plan (the “Plan”) is to allow all
eligible Sbarro corporate office employees to share in the EBITDA, (as defined in accordance with the company’s credit agreement without accrued corporate bonus) improvements achieved in 2010. EBITDA is an accounting term which stands for
“Earnings Before Interest, Taxes, Depreciation and Amortization”. This Bonus Plan covers the fiscal 2010 year (53 weeks). 
 Eligibility – Eligibility
for participation in the Plan is limited to corporate office employees, including Corporate Officers, Senior Vice Presidents of Operations, Vice Presidents, Directors, Field Trainers, Department Managers, Other Salaried Employees and Hourly-Paid
Employees and such other persons that the company shall incorporate into the plan. The effective date of this Plan is December 28, 2009. All corporate office employees employed or hired after December 28, 2009 become participants in the
Plan on a pro-rata basis computed on the number of weeks worked during the plan year. Participation in the Plan ends January 2, 2011, unless extended by the Company. Participation also ends if the Plan is terminated for any reason or if the
participant’s employment is terminated for any reason prior to payment unless such payment is covered by a separate employment agreement. 
 How The Plan Works – 
  

	 	•	 	 The EBITDA target for this plan is $44,500,000. 

	 	•	 	 The EBITDA target has been made known to all plan participants pursuant to this plan. 

	 	•	 	 Each Bonus Plan participant has been told their Personal Bonus as defined below. 

 How Do I Earn a Bonus? 
  

	 	•	 	 During the year 2010, all plan participants will work toward exceeding the EBITDA target (as defined in the Company’s Credit Agreement without
accrued bonus) of $44,500,000. 

	 	•	 	 Each participant shall receive a portion of their Personal Bonus based upon meeting the 2010 EBITDA target (as defined in the Company’s Credit
Agreement without accrued bonus) of $44,500,000. 

	 	•	 	 Your personal bonus is determined by taking your base salary and multiplying by your bonus percentage as set forth for your job description or title
on Exhibit A (“Personal Bonus”). 

	 	•	 	 For each dollar of EBITDA, (as defined in the Company’s Credit Agreement without accrued bonus) exceeding $44,500,000 the Company will
contribute $.44 (“Pool”). You will receive the percentage of your Personal Bonus as set forth on Exhibit B from the Pool. The 2010 Pool will be allocated to each participant on a pro rata basis based upon

  

 2 

	 	 
their Personal Bonus as it relates to the Personal Bonus as set forth on Exhibit A of all others in the Pool. Note that the maximum payout under the Bonus Plan is two times an Employees Personal
Bonus. If at any quarter in 2010 or the first quarter of 2011 the Bonus Plan causes the Company to be non-compliant with its Bank EBITDA Covenants either by payment or accrual (in accordance with generally accepted accounting principles) the Bonus
Plan will be terminated and no amounts will be deemed earned or payable. 

 When Will The Bonus Be Paid? 
 Bonuses will be paid (15) days after the 1st Quarter 2011 financial statements of Company performance are filed with the SEC, but no later than May 30, 2011.
You must be an active employee at the time of the bonus plan payout to remain eligible for a bonus. 
 Conclusion 
 This is a great opportunity for all of us to work together to share in improved EBITDA performance. We anticipate an exciting and productive
2010 for our guests, employees, vendors and shareholders. 
 New Hires
 – If an individual becomes a new participant during the plan year, the bonus award will be pro-rated based on the number of
completed weeks of participation. 
 Leaves of Absence – Employees on an approved leave of absence during the bonus period will receive a pro-rated portion of the bonus that constitutes the
time that the employee has been physically at work. 
 Death and
Disability – In the event of involuntary termination of employment for reasons of death or continuing inability to perform
job duties due to a medical condition (despite reasonable accommodation) any unpaid, earned incentive awards applicable to the bonus period shall be paid on pro-rata basis as soon as possible after the death or disability. In the event of the death
of a participant in the Plan, any bonus award shall be paid to the estate or designated beneficiary. 
 Other Plan Provisions – Promotions and other intra and inter-company movement
of employees shall be administered as specified by accepted company compensation administration practices. Where there is conflict between this Plan and other practices previously set forth, the Company, in its sole and absolute discretion, shall
make a determination of Plan eligibility. 
 Company Standards and
Legal Regulations – Awards distributed under this Plan are based on the understanding and condition that each participant
will act, and will conduct the company’s business, in accordance with proper business practices, policies and procedures, in strict compliance with all applicable laws and company policies, and according to the highest ethical standards. The
Company, in its sole discretion, retains the right to modify, suspend, discontinue and deny bonus awards to participants who fail to comply with established company policies and business ethics, or who fail to comply with applicable federal, state
and local laws. 
  

 3 

 Amendment or Termination of the Plan
 – The Company may terminate, amend, discontinue or modify this Plan at any time without prior notice to participants. The
Bonus Plan may be discontinued or changed by the Company at any time for any reason or no reason, and should not be regarded as a condition or agreement of employment. Nothing in this Plan alters the at will status of employment, pursuant to which
the company or a Plan participant can terminate their employment relationship without cause, notice or liability. 
 Financial Statements and Books and Records Conclusive – All
determinations under this Plan shall be made in accordance with the Company’s internal methods of accounting and shall be based upon the financial statements prepared by, as applicable, the Company’s finance department. For this purpose,
the Company’s books and records will be conclusive. 
  

 4 

 Exhibit A 2010 Personal Bonus 
  

			
	 Category
	  	Percent of Salary
		
	 Corporate Officer
	  	50%
	 Senior Vice President Operations
	  	50%
	 Vice Presidents
	  	30%
	 Senior Director
	  	30%
	 Directors
	  	25%
	 Chief Operating Officer-Int’l Franchise
	  	25%
	 Senior Manager
	  	20%
	 Department Manager
	  	15%
	 Other Salaried Employees
	  	10%
	 Non-Exempt Supervisors
	  	10%
	 Executive Administration
	  	10%
	 Hourly-Paid Employees
	  	  5%

  

 5 

 EXHIBIT B 
  

			
	 EBITDA TARGET
 Before bonus
	  	 Estimated Percent of
 Personal Bonus          

	 $44,500
	  	  31%
	   45,000
	  	  45%
	   46,000
	  	  73%
	   47,000
	  	100%
	   48,000
	  	128%
	   49,000
	  	155%
	   50,000
	  	183%
	   50,650
	  	200%

  

 6Second Amendment to Second Amended and Restated Credit Agreement

 EXHIBIT 10.33 
 SECOND AMENDMENT TO 
 SECOND AMENDED AND RESTATED CREDIT
AGREEMENT 
 THIS SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is entered into as of March 24, 2010, by and among TEXAS INDUSTRIES, INC., a Delaware corporation (the “Borrower”), BANK OF AMERICA, N.A., as Administrative Agent (in such capacity,
the “Administrative Agent”), and the financial institutions named on the signature pages hereto. 
 WITNESSETH: 
 WHEREAS, the Borrower, the Administrative Agent and the lenders named therein are
parties to that certain Second Amended and Restated Credit Agreement dated as of June 19, 2009 (as amended, the “Credit Agreement”) (capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Credit Agreement); 
 WHEREAS, the Borrower desires to amend certain terms of the
Credit Agreement and the Required Lenders have agreed to such amendments on the terms and conditions of this Amendment; 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound hereby, the parties hereby agree as follows: 
 Section 1. Amendments. Effective as of the Effective Date (defined below), Section 7.06 (Restricted
Payments) of the Credit Agreement is amended to (i) restate clause (c) thereof in its entirety and (ii) add a new clause (d) thereto immediately following such restated clause (c), in each case as follows: 
 (c) the Borrower may declare and make cash Dividends ratably to the holders of its common stock in an amount not exceeding
(i) $2,500,000 in any single instance (which shall not occur more than four times in any calendar year) or (ii) $10,000,000 in the aggregate during any calendar year, provided that immediately before and after giving effect to any such
Dividend there shall exist no Default and, for the 30 consecutive calendar days immediately preceding the declaration of such Dividend and on the date of such declaration after giving pro forma effect to such Dividend, Availability shall exceed the
greater of $60,000,000 or 30% of the Aggregate Commitments at all times; and 
 (d) the Borrower may declare and
make other Restricted Payments payable in cash, provided that immediately before and after giving effect to any such Restricted Payment there shall exist no Default and the Minimum Covenant Threshold shall be satisfied. 
 Section 2. Effectiveness. This Amendment shall be effective automatically and without the necessity of any
further action when the Administrative Agent has received (a) counterparts hereof duly executed by the Borrower and the Required Lenders and (b) a consent executed by the Guarantors pursuant to which each Guarantor consents to the
amendment of the Credit Agreement contemplated hereby and reaffirms its obligations under the Guaranty (such date, the “Effective Date”). 

 Section 3. Reaffirmation of Representations and Warranties. To
induce the Required Lenders to enter into this Amendment, the Borrower hereby represents and warrants that, except to the extent such representations and warranties specifically refer to an earlier date, each representation and warranty of the
Borrower contained in the Credit Agreement and the other Loan Documents is true and correct in all material respects on the date hereof and after giving effect to the amendments set forth herein. 
 Section 4. Miscellaneous. 
 4.1 Reaffirmation of Loan Documents; Liens. All of the terms and provisions of the Credit Agreement and the other Loan Documents shall, except as amended and modified hereby,
remain in full force and effect. The Borrower agrees that the amendments and modifications herein contained shall in no manner adversely affect or impair the Obligations or the Liens securing payment and performance thereof. 
 4.2 Parties in Interest. All of the terms and provisions of this Amendment shall bind and inure to the benefit of the
parties hereto and their respective successors and assigns. 
 4.3 Counterparts. This Amendment may be
executed in counterparts, and all parties need not execute the same counterpart. Facsimiles shall be effective as originals. 
 4.4 Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES. 
 4.5 Headings. The headings and captions used in this Amendment are for convenience only and shall not be deemed to limit, amplify or modify the terms of this Amendment, nor affect the meaning
thereof. 
 4.6 Governing Law. This Amendment shall be governed by, and construed in accordance with, the
law of the State of Texas. 
 [Signature Pages Follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized officers on the date and year first above written. 
  
  

			
	 BORROWER:
  
 TEXAS INDUSTRIES, INC., a Delaware
corporation

		
	By:	 	/s/ T. Lesley Vines
	Name: T. Lesley Vines
	Title: Vice President-Corporate Controller/Assistant
Treasurer

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	 ADMINISTRATIVE AGENT AND LENDERS:
  
 BANK OF AMERICA, N.A., as Administrative
Agent and a
Lender

		
	By:	 	/s/ James B. Allin
	Name: James B. Allin
	Title: Senior Vice President

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	UBS LOAN FINANCE, as a Lender
		
	By:	 	 /s/ Irja R. Otsa

	 Name: Irja R. Otsa

	 Title: Associate Director

		
	By:	 	/s/ Mary E. Evans
	 Name: Mary E. Evans

	 Title: Associate Director

  
 [Signature Page to Second Amendment to Second Amended and Restated
Credit Agreement] 

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as a Lender
		
	By:	 	 /s/ Greg Campbell

	Name: Greg Campbell
	Title: VP, Senior Relationship Manager

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	COMERICA BANK, as a Lender
		
	By:	 	 /s/ Catherine Meister Young

	Name: Catherine Meister Young
	Title: Vice President

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	SUNTRUST BANK, as a Lender
		
	By:	 	 /s/ Angela Leake

	Name: Angela Leake
	Title: Vice President

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	 U.S. BANK NATIONAL ASSOCIATION, as a
 Lender

		
	By:	 	 /s/ Matthew Kasper

	Name: Matthew Kasper
	Title: Relationship Manager

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	CAPITAL ONE, N.A., as a Lender
		
	By:	 	 /s/ Mary Jo Hoch

	Name: Mary Jo Hoch
	Title: Senior Vice President

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	 GENERAL ELECTRIC CAPITAL
 CORPORATION, as a Lender

		
	By:	 	 /s/ Dwayne Coker

	Name: Dwayne Coker
	Title: Duly Authorized Signatory

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

 CONSENT OF GUARANTORS 
 Each Guarantor hereby consents and agrees to the amendment of the Credit Agreement pursuant to this Amendment and further agrees that the Guaranty shall remain in full force and
effect and shall continue to be the legal, valid and binding obligation of such Guarantor enforceable against it in accordance with the terms thereof. 
  

			
	 BROOKHOLLOW CORPORATION
 BROOK HOLLOW PROPERTIES, INC.
 BROOKHOLLOW OF ALEXANDRIA, INC.
 BROOKHOLLOW OF VIRGINIA, INC.
 SOUTHWESTERN FINANCIAL
 CORPORATION
 CREOLE CORPORATION
 PARTIN LIMESTONE PRODUCTS, INC.
 RIVERSIDE CEMENT
HOLDINGS COMPANY
 TXI AVIATION, INC.
 TXI CEMENT COMPANY
 TXI RIVERSIDE INC.
 TXI TRANSPORTATION COMPANY
 TXI CALIFORNIA INC.
 PACIFIC CUSTOM MATERIALS, INC.
 TXI POWER COMPANY
 TEXAS INDUSTRIES HOLDINGS, LLC
 TEXAS INDUSTRIES
TRUST
 TXI LLC
 TXI OPERATING TRUST

		
	By:	 	 /s/ T. Lesley Vines

	Name: T. Lesley Vines
	Title: Authorized Officer
	
	RIVERSIDE CEMENT COMPANY
		
	By:	 	 /s/ T. Lesley Vines

	Name: T. Lesley Vines
	 Title: Assistant General Manager-Controller and
 Assistant Treasurer

  
 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement] 

			
	TXI OPERATIONS, LP
		
	By:	 	TXI Operating Trust, its general partner
		
	By:	 	 /s/ T. Lesley Vines

	Name: T. Lesley Vines
	 Title: Vice President-Corporate Controller/Assistant
 Treasurer

 [Signature Page to Second Amendment to Second Amended and Restated Credit Agreement]

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