Document:

EX-10.1

 Exhibit 10.1 

EXCHANGE AGREEMENT 

[             ] (the “Undersigned”), for itself and on behalf of
the beneficial owners listed on Exhibit A hereto (“Accounts”) for whom the Undersigned holds contractual and investment authority (each Account, as well as the Undersigned if it is exchanging 2023 Notes (as defined
below) hereunder, a “Holder”), enters into this Exchange Agreement (the “Agreement”) with Builders FirstSource, Inc. (the “Company”) on February 5, 2016 whereby the Holders will exchange (the
“Exchange”) the Company’s 10.75% Senior Notes due 2023 (the “2023 Notes”) for the Company’s 7.625% Senior Secured Notes due 2021 (the “2021 Notes”) that will be issued pursuant to
the provisions of an Indenture dated as of May 29, 2013 between the Company, the Guarantors party thereto (the “Guarantors”) and Wilmington Trust, National Association (the “Trustee”), as supplemented to
the date hereof (the “2021 Indenture”). 
 On and subject to the terms hereof, the parties hereto agree as follows: 

Article I: Exchange of the 2023 Notes for 2021 Notes 

Subject to the terms set forth in this Agreement, at the Closing (as defined herein), the Undersigned hereby agrees to cause the Holders to
exchange and deliver to the Company the following 2023 Notes, and in exchange therefor the Company hereby agrees to issue to the Holders the principal amount of 2021 Notes described below and to pay in cash the following accrued but unpaid interest
on such 2023 Notes, less accrued but unpaid interest on the 2021 Notes, in each case through the Closing Date (as defined herein). Pursuant to the terms of the 2021 Indenture, the 2021 Notes shall be in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof. Any amounts of 2021 Notes issued in connection with the Exchange shall be rounded down to the nearest multiple of $1,000 and the excess added to the cash payment (the “True-Up Payment”). 

 

			
	 Principal Amount of 2023 Notes to be Exchanged:
	  	$                                     
                   
		  	 (the “Exchanged Notes”).

		
	 Principal Amount of 2021 Notes to be Issued in the Exchange:
	  	$                                     
                   
		  	 (the “Holders’ 2021 Notes”).

		
	 Cash Payment of Accrued but Unpaid Interest on Exchanged Notes, Less Accrued but Unpaid Interest on the 2021 Notes, Plus the True-Up
Payment:
	  	$                                     
                   
		  	 (the “Cash Payment”).

 The closing of the Exchange (the “Closing”) shall occur on a date (the “Closing
Date”) no later than five business days after the date of this Agreement. At the Closing, (a) each Holder shall deliver or cause to be delivered to the Company all right, title and interest in and to its Exchanged Notes (and no other
consideration) free and clear of any mortgage, lien, pledge, charge, security interest, encumbrance, title retention agreement, option, equity or other adverse claim thereto (collectively, “Liens”), together with any documents of
conveyance or transfer that the Company may deem necessary or desirable to transfer to and confirm in the Company all right, title and interest in and to the Exchanged Notes free and clear of any Liens, and (b) the

 
Company shall deliver to each Holder the principal amount of Holders’ 2021 Notes and the portion of the Cash Payment specified on Exhibit A hereto (or, if there are no Accounts, the
Company shall deliver to the Undersigned, as the sole Holder, the Holders’ 2021 Notes and the Cash Payment specified above); provided, however, that the parties acknowledge that the delivery of the Holders’ 2021 Notes to the Holder may be
delayed due to procedures and mechanics within the system of the Depository Trust Company or events beyond the Company’s control and that such delay will not be a default under this Agreement so long as (i) the Company is using its best
efforts to effect the issuance of one or more global notes representing the 2021 Notes and (ii) such delay is no longer than ten business days. Simultaneously with or after the Closing, the Company may issue 2021 Notes to one or more other
holders of outstanding 2023 Notes or to other investors, subject to the terms of the 2021 Indenture. 
 Article II:
Covenants, Representations and Warranties of the Holders 
 Each Holder (and, where specified below, the Undersigned) hereby
covenants (solely as to itself), as follows, and makes the following representations and warranties (solely as to itself), each of which is and shall be true and correct on the date hereof and at the Closing, to the Company, and all such covenants,
representations and warranties shall survive the Closing. 
 Section 2.1 Power and Authorization. The Holder is duly
organized, validly existing and in good standing, and has the power, authority and capacity to execute and deliver this Agreement, to perform its obligations hereunder, and to consummate the Exchange contemplated hereby. If the Undersigned is
executing this Agreement on behalf of Accounts, (a) the Undersigned has all requisite discretionary and contractual authority to enter into this Agreement on behalf of, and bind, each Account, and (b) Exhibit A hereto is a true,
correct and complete list of (i) the name of each Account, (ii) the principal amount of such Account’s Exchanged Notes, (iii) the principal amount of Holders’ 2021 Notes to be issued to such Account in respect of its
Exchanged Notes, and (iv) the portion of the Cash Payment to be made to such Account in respect of the accrued interest on its Exchanged Notes. 

Section 2.2 Valid and Enforceable Agreement; No Violations. This Agreement has been duly executed and delivered by the
Undersigned and the Holder and constitutes a legal, valid and binding obligation of the Undersigned and the Holder, enforceable against the Undersigned and the Holder in accordance with its terms, except that such enforcement may be subject to
(a) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors’ rights generally, and (b) general principles of equity, whether such enforceability
is considered in a proceeding at law or in equity (the “Enforceability Exceptions”). This Agreement and consummation of the Exchange will not violate, conflict with or result in a breach of or default under (i) the
Undersigned’s or the Holder’s organizational documents, (ii) any agreement or instrument to which the Undersigned or the Holder is a party or by which the Undersigned or the Holder or any of their respective assets are bound, or
(iii) any laws, regulations or governmental or judicial decrees, injunctions or orders applicable to the Undersigned or the Holder. 

Section 2.3 Title to the Exchanged Notes. The Holder is the sole legal and beneficial owner of the Exchanged Notes set
forth opposite its name on Exhibit A hereto (or, if there are no Accounts, the Undersigned is the sole legal and beneficial owner of all of the Exchanged Notes). 

  
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The Holder has good, valid and marketable title to its Exchanged Notes, free and clear of any Liens (other than pledges or security interests that the Holder may have created in favor of a prime
broker under and in accordance with its prime brokerage agreement with such broker). The Holder has not, in whole or in part, except as described in the preceding sentence, (a) assigned, transferred, hypothecated, pledged, exchanged or
otherwise disposed of any of its Exchanged Notes or its rights in its Exchanged Notes, or (b) given any person or entity any transfer order, power of attorney or other authority of any nature whatsoever with respect to its Exchanged Notes. Upon
the Holder’s delivery of its Exchanged Notes to the Company pursuant to the Exchange, such Exchanged Notes shall be free and clear of all Liens created by the Holder. 

Section 2.4 Accredited Investor and Qualified Institutional Buyer. The Holder is: (i) an “accredited
investor” within the meaning of Rule 501 of Regulation D (“Regulation D”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and (ii) a “qualified
institutional buyer” within the meaning of Rule 144A promulgated under the Securities Act. 
 Section 2.5 No Affiliate
Status. The Holder is not, and has not been during the consecutive three month period preceding the date hereof, a director, officer or “affiliate” within the meaning of Rule 144 promulgated under the Securities Act (“Rule
144”) (an “Affiliate”) of the Company. 
 Section 2.6 No Illegal Transactions. Each of the
Undersigned and the Holder has not, directly or indirectly, and no person acting on behalf of or pursuant to any understanding with it has, engaged in any transactions in the securities of the Company (including, without limitation, any Short Sales
(as defined below) involving any of the Company’s securities) since the time that the Undersigned was first contacted by either the Company or any other person regarding the Exchange, this Agreement or an investment in the 2021 Notes or the
Company. Each of the Undersigned and the Holder covenants that neither it nor any person acting on its behalf or pursuant to any understanding with it will engage, directly or indirectly, in any transactions in the securities of the Company
(including Short Sales) prior to the time the transactions contemplated by this Agreement are publicly disclosed. “Short Sales” include, without limitation, all “short sales” as defined in Rule 200 of Regulation SHO
promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, derivatives and similar
arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker-dealers or foreign regulated brokers. Solely for purposes of this Section 2.6, subject to the Undersigned’s and the Holder’s
compliance with their respective obligations under the U.S. federal securities laws and the Undersigned’s and the Holder’s respective internal policies, (a) “Undersigned” and “Holder” shall not be deemed to include
any employees, subsidiaries or affiliates of the Undersigned or the Holder that are effectively walled off by appropriate “Chinese Wall” information barriers approved by the Undersigned’s or the Holder’s respective legal or
compliance department (and thus have not been privy to any information concerning the Exchange), and (b) the foregoing representations of this Section 2.6 shall not apply to any transaction by or on behalf of an Account that was effected
without the advice or participation of, or such Account’s receipt of information regarding the Exchange provided by, the Undersigned. 

  
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 Section 2.7 Adequate Information; No Reliance. The Holder acknowledges and
agrees that (a) the Holder has been furnished with all materials it considers relevant to making an investment decision to enter into the Exchange and has had the opportunity to review the Company’s filings and submissions with the
Securities and Exchange Commission (the “SEC”), including, without limitation, all information filed or furnished pursuant to the Exchange Act, (b) the Holder has had a full opportunity to ask questions of the Company
concerning the Company, its business, operations, financial performance, financial condition and prospects, and the terms and conditions of the Exchange, (c) the Holder has had the opportunity to consult with its accounting, tax, financial and
legal advisors to be able to evaluate the risks involved in the Exchange and to make an informed investment decision with respect to such Exchange and (d) the Holder is not relying, and has not relied, upon any statement, advice (whether
accounting, tax, financial, legal or other), representation or warranty made by the Company or any of its affiliates or representatives, except for (A) the publicly available filings and submissions made by the Company with the SEC under the
Exchange Act, and (B) the representations and warranties made by the Company in this Agreement. 
 Section 2.8 No Public
Market. The Holder understands that no public market exists for the 2021 Notes, and that there is no assurance that a public market will ever develop for the 2021 Notes. 

Article III: Covenants, Representations and Warranties of the Company 

The Company hereby covenants as follows, and makes the following representations and warranties, each of which is and shall be true and
correct on the date hereof and at the Closing, to the Holders, and all such covenants, representations and warranties shall survive the Closing. 

Section 3.1 Power and Authorization. The Company is duly incorporated, validly existing and in good standing under the laws
of its state of incorporation, and has the power, authority and capacity to execute and deliver this Agreement and the Supplement, to perform its obligations hereunder and thereunder, and to consummate the Exchange contemplated hereby. 

Section 3.2 Valid and Enforceable Agreements; No Violations. This Agreement has been duly executed and delivered by the
Company and constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except that such enforcement may be subject to the Enforceability Exceptions. At the Closing, the 2021
Indenture will govern the terms of the 2021 Notes, and the 2021 Indenture will constitute a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except that such enforcement may be subject
to the Enforceability Exceptions. This Agreement, the 2021 Indenture and consummation of the Exchange will not violate, conflict with or result in a breach of or default under (i) the charter, bylaws or other organizational documents of the
Company, (ii) any agreement or instrument to which the Company is a party or by which any of its assets are bound, or (iii) any laws, regulations or governmental or judicial decrees, injunctions or orders applicable to the Company, except,
in the case of clauses (ii) and (iii), as would not reasonably be expected to have a material adverse effect on the condition (financial or otherwise), earnings or business of the Company and its subsidiaries considered as one enterprise. 

  
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 Section 3.3 Validity of the Holders’ 2021 Notes. The Holders’ 2021
Notes have been duly authorized by the Company and, when executed and authenticated in accordance with the provisions of the 2021 Indenture and delivered to the Holder pursuant to the Exchange against delivery of the Exchanged Notes in accordance
with the terms of this Agreement, the Holders’ 2021 Notes will be valid and binding obligations of the Company, enforceable in accordance with their terms, except that such enforcement may be subject to the Enforceability Exceptions, and the
Holders’ 2021 Notes will not be subject to any preemptive, participation, rights of first refusal or other similar rights. Assuming the accuracy of each Holder’s representations and warranties hereunder, the Holders’ 2021 Notes
(a) will be issued in the Exchange exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, (b) will, at the Closing, be free of any restrictions
on resale by such Holder pursuant to Rule 144, and (c) will be issued in compliance with all applicable state and federal laws concerning the issuance of the Holders’ 2021 Notes. 

Section 3.4 Disclosure. Before 7:30 a.m., New York City time, on the first business day following the date of this
Agreement, the Company shall issue a publicly available press release or file with the SEC a Current Report on Form 8-K disclosing all material terms of the Exchange (to the extent not previously publicly disclosed). This obligation shall supersede
any other disclosure requirement previously agreed to between the Undersigned, any Holder and the Company, and the Company shall not be bound to make any such public disclosure prior to the time specified in the preceding sentence. 

Article IV: Miscellaneous 

Section 4.1 Tax Matters. The Company will determine the issue price of the 2021 Notes for United States federal income tax
purposes and will inform the Undersigned of the issue price reasonably promptly after the Company’s determination thereof. The Company, the Undersigned and each Holder shall report the tax consequences of the Exchange and the issuance and
holding of the 2021 Notes in a manner that is consistent with the issue price, as so determined. The Undersigned and each Holder shall provide to the Company a duly completed and executed Internal Revenue Service Form W-9 or applicable Form W-8 at
or prior to the time of the Exchange. Notwithstanding the foregoing, the Company shall ensure that the 2021 Notes are assigned the same CUSIP and are fungible for United States federal income tax purposes with the other then outstanding 7.625%
Senior Secured Notes due 2021. 
 Section 4.2 Entire Agreement. This Agreement and any documents and agreements
executed in connection with the Exchange embody the entire agreement and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous oral or written agreements, representations,
warranties, contracts, correspondence, conversations, memoranda and understandings between or among the parties or any of their agents, representatives or affiliates relative to such subject matter, including, without limitation, any term sheets,
emails or draft documents, and is not intended to confer upon any person any rights or remedies hereunder other than the parties hereto, and, with respect to the representations and warranties in Articles II and III, the Undersigned.  

  
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 Section 4.3 Construction. References in the singular shall include the plural,
and vice versa, unless the context otherwise requires. References in the masculine shall include the feminine and neuter, and vice versa, unless the context otherwise requires. Headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meanings of the provisions hereof. Neither party, nor its respective counsel, shall be deemed the drafter of this Agreement for purposes of construing the provisions of this Agreement, and all language in all
parts of this Agreement shall be construed in accordance with its fair meaning, and not strictly for or against either party. 

Section 4.4 Governing Law. THIS AGREEMENT SHALL IN ALL RESPECTS BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CHOICE OF LAW RULES. 
 Section 4.5 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. Any counterpart or other signature hereon delivered by facsimile shall be deemed
for all purposes as constituting good and valid execution and delivery of this Agreement by such party. 
 [Signature Page Follows]

  
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 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of the
date first above written. 
  

			
	“UNDERSIGNED”:
	
	  

	(in its capacities described in the first paragraph hereof)
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

  
 Signature Page to
Exchange Agreement 
 Builders FirstSource, Inc. 7.625% Senior Secured Notes due 2021 

			
	“Company”:
	
	BUILDERS FIRSTSOURCE, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Signature Page to Exchange Agreement 

Builders FirstSource, Inc. 7.625% Senior Secured Notes due 2021 

 EXHIBIT A 

Exchanging Beneficial Owners 
  

							
	 Name of
Beneficial Owner
	 	Principal Amount of
Exchanged Notes	 	Principal Amount of
Holders’ 2021 Notes	 	Portion of
Cash Payment

 EXHIBIT B 

2021 IndentureEX-10.23

 Exhibit 10.23 

Execution Version 
 AMENDMENT TO
EMPLOYMENT AGREEMENT 
 This Amendment to Employment Agreement (“Amendment”) is entered into as of July 15, 2015,
by and between Mark Butler, an individual (“Employee”), and Ollie’s Bargain Outlet, Inc. (the “Company”). 

WHEREAS, the Company and the Employee are party to that certain employment letter dated September 28, 2012 (the “Employment
Agreement”); 
 WHEREAS, the first underwritten public offering and sale of shares of common stock of Ollie’s Bargain Outlet
Holdings, Inc., a Delaware corporation (“Holdings”), the Company’s indirect parent, for cash pursuant to an effective registration statement on Form S-1 under the Securities Act of 1933, as amended (the “Initial Public
Offering”) is expected to occur in the near future; 
 WHEREAS, in connection with the Initial Public Offering, the Bargain
Holdings, Inc. Stockholders Agreement dated as of September 28, 2012 (as may be amended and/or restated from time to time, the “Stockholders Agreement”), is expected to be amended to, among other things, remove the term
“Butler Consent Rights,” as defined therein (the “Stockholders Agreement Amendment”); 
 WHEREAS, in anticipation
of the Initial Public Offering of Holdings and the Stockholders Agreement Amendment, the Company and Employee desire to amend the Employment Agreement to reflect the changes set forth herein; provided, that such amendments and this Amendment shall
be effective immediately prior to the consummation of such Initial Public Offering; and 
 WHEREAS, capitalized terms that are not defined
herein shall have the same meaning as set forth in the Employment Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained, the parties agree as follows: 
  

	1.	Amendment to Employment Agreement. 

  

	 	a.	For purposes of the Employment Agreement, the defined term “Bargain Holdings” means Ollie’s Bargain Outlet Holdings, Inc., a Delaware corporation, formerly known as Bargain Holdings, Inc.

  

	 	b.	Clause (ii) of the second sentence of Section 2 of the Employment Agreement is amended and restated in its entirety to read as follows: 

 

	 	“(ii)	[intentionally deleted] and” 

  

	 	c.	Clause (iii) of the second sentence of Section 2 of the Employment Agreement is amended and restated in its entirety to read as follows: 

“(iii) provide periodic financial and operational reports to the Board of Directors of Bargain Holdings (the
“Board”).” 

	 	d.	The last sentence of Section 2 of the Employment Agreement is amended and restated in its entirety to read as follows: 

“So long as you are the Chief Executive Officer of the Company, the Board will nominate you for election to the Board (including election
to the position of Chairman of the Board, provided that you hold at least 5% of Bargain Holdings’ then-issued and outstanding Shares (as defined in the Stockholders’ Agreement) at the relevant time) without additional compensation.”

  

	 	e.	With respect to the first paragraph of Section 4 and the table immediately following such paragraph, (i) all references to “66.7%” shall be replaced with “100%,” and (ii) all
references to “133.33%” shall be replaced with “200%.” 

  

	 	f.	The phrase “(in each case, with the CCMP Consent (as defined in the Stockholders’ Agreement))” and both instances of the phrase “(in each case, with the CCMP Consent)” shall be deleted from
Section 4 in their entirety. 

  

	 	g.	The definition of the term “Company Group” contained at Section 6 is amended and restated in its entirety to read as follows: 

“Company Group” shall mean Bargain Holdings and its direct and indirect subsidiaries.” 

 

	 	h.	Subsection (ii) of the definition of the term “Good Reason” contained at Section 6 is amended and restated in its entirety to read as follows: 

“(ii) a material reduction in your authority (relative to your authority immediately following the first underwritten public offering and
sale of shares of common stock of Bargain Holdings for cash pursuant to an effective registration statement on Form S-1 under the Securities Act of 1933, as amended), compensation, perquisites, position or responsibilities, other than any reduction
in compensation or perquisites which affects all of the Company’s senior executives on a substantially equal or proportionate basis,” 
  

	 	i.	Subsection (iii) of the definition of the term “Good Reason” contained at Section 6 is amended and restated in its entirety to read as follows: 

 

	 	“(iii)	[intentionally deleted] or” 

  

	 	j.	The first sentence of Section 16 is amended and restated in its entirety to read as follows: 

No change or modification of this Agreement shall be valid unless the same shall be in writing and signed by all of the parties hereto. 

 

  
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	2.	References. All references in the Employment Agreement to “this Agreement” and any other references of similar import shall hereinafter refer to the Employment Agreement as amended by this Amendment.

  

	3.	Remaining Provisions. Except as expressly modified by this Amendment, the Employment Agreement shall remain in full force and effect. This Amendment embodies the entire agreement and understanding of the parties
hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, oral or written, relative thereto. 

  

	4.	Governing Law. This Amendment is made in Harrisburg, Pennsylvania, and shall be construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. 

 

	5.	Amendment Effective Date. This Amendment shall be effective as of immediately prior to the consummation of the Initial Public Offering of Holdings, and to the extent such Initial Public Offering does not occur
prior to December 31, 2015, this amendment shall be void ab initio. 

  

	6.	Counterparts. This Amendment may be executed by either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same
instrument. 

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

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

			
	 OLLIE’S BARGAIN OUTLET, INC.

		
	By:	 	 /s/ John Swygert

	 Name:
 Title:
	 	 John Swygert
 Executive Vice President and Chief
Financial Officer

  

	
	ACCEPTED AND AGREED:
	
	 /s/ Mark Butler

	Mark Butler

 Solely with respect to the last sentence of Section 2 of the Employment Agreement, as amended by this Amendment, accepted
and agreed to by: 
  

			
	 OLLIE’S BARGAIN OUTLET HOLDINGS, INC.

		
	By:	 	 /s/ John Swygert

	 Name:
 Title:
	 	 John Swygert
 Executive Vice President
and
 Chief Financial Officer

 [Signature Page to Amendment to Employment Agreement – Butler]

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