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Exhibit 10.1

AMENDMENT NO. 1 
TO THE 
SECOND AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
OF
CORE & MAIN HOLDINGS, LP
THIS AMENDMENT NO. 1, dated as of April 30, 2022 (this “Amendment”), to the SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (the “A&R Agreement”, and as amended, the “Agreement”) of Core & Main Holdings, LP, a Delaware limited partnership (the “Partnership”), is entered into by and among Core & Main, Inc., a Delaware corporation (“C&M Inc.”), as general partner (in such capacity, the “General Partner”) and a limited partner, CD&R Waterworks Holdings, LLC, a Delaware limited liability company (the “CD&R Partner”), as a limited partner, CD&R WW, LLC, a Delaware limited liability company (the “Intermediate Partner”), as a limited partner, and Core & Main Management Feeder, LLC, a Delaware limited liability company (the “Management Partner”), as a limited partner. Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the A&R Agreement.
W I T N E S S E T H:
WHEREAS, pursuant to Section 11.9 of the A&R Agreement, the A&R Agreement may be amended with the consent of the General Partner and each of the Limited Partners; 
WHEREAS, on July 22, 2021, the Original Agreement was amended and restated by the Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of July 22, 2021 (the “A&R Agreement”); 
WHEREAS, pursuant to the terms of the Amended and Restated Certificate of Incorporation of C&M Inc., C&M Inc. is obligated to maintain at all times a one-to-one ratio between the number of LP Partnership Interests owned by C&M Inc. (directly or indirectly, including through its subsidiaries) and the number of outstanding shares Class A Common Stock, subject to certain exceptions; 
WHEREAS, pursuant to the terms of the Exchange Agreement and Section 4.1(b) of the A&R Agreement, in an Exchange Transaction that results in a Liquidation Adjustment, where shares of Class A Common Stock are to be delivered to a Partner as consideration for LP Partnership Interests and Class B Common Stock tendered for exchange by such Partner, the number of shares of Class A Common Stock to be delivered by C&M Inc. may be increased or decreased, as the case may be, by a number of shares of Class A Common Stock equal to any Excess Amount or Deficit Amount (each as defined in the Exchange Agreement), respectively, divided by the Liquidation Adjustment Price (as defined in the Exchange Agreement), unless, in the case of a Deficit Amount, such Partner elects to make a contemporaneous cash contribution to the Partnership equal to the applicable Deficit Amount (any such change in the number of shares of Class A Common Stock delivered in an Exchange Transaction, an “Exchange Agreement Adjustment”); 
WHEREAS, C&M Inc. may, at any time and from time to time, (i) issue additional shares of Class A Common Stock, including pursuant to the Core & Main, Inc. 2021 Omnibus Equity Incentive Plan, as the same may be amended from time to time, and any other stock incentive plan adopted by C&M Inc. from time to time (other than shares of Class A Common Stock issued in an Exchange Transaction), (ii) repurchase outstanding shares of Class A Common Stock (other than shares of Class A Common Stock issued pursuant to an Exchange Agreement Adjustment) (any such issuance or repurchase of shares of Class A Common Stock, a “Class A Common Stock Event”) and (iii) repurchase outstanding shares of Class A Common Stock and Class B Common Stock from Management Partner in connection with the forfeiture of unvested units of Management Partner by any member thereof, pursuant to the terms of the agreements governing Management Partner (a “Forfeiture Event”); and
WHEREAS, each of the Partners hereby desires to amend the A&R Agreement in the manner set forth herein in order to maintain a one-to-one ratio of LP Partnership Interests to outstanding shares of Class A Common Stock in the event of an Exchange Agreement Adjustment or a Class A Common Stock Event and to redeem LP Partnership Interests in the event of a Forfeiture Event.
NOW, THEREFORE, in consideration of the mutual promises and agreements herein made and intending to be legally bound hereby, the Parties hereby agree as follows:
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1. Amendment
(a) The A&R Agreement is hereby amended to insert the text below as a new Section 2.2: 
“Section 2.2 Authorization of Issuance and Repurchase of Partnership Interests.
(a) The General Partner is authorized to cause the Partnership to grant, sell and issue additional LP Partnership Interests from time to time and at any time.  
(b) At any time C&M Inc. issues one or more shares of Class A Common Stock pursuant to an Exchange Agreement Adjustment in respect of an Excess Amount, effective simultaneous with such issuance, the Partnership shall automatically and without further action on the part of the Partnership or any Partner issue to C&M Inc. a corresponding number of LP Partnership Interests and appropriate adjustments shall be made to the operation of Section 4.1(b) in view of such Excess Amount having thereby been taken into account. 
(c) At any time one or more shares of Class A Common Stock are withheld from delivery pursuant to an Exchange Agreement Adjustment in respect of a Deficit Amount, effective simultaneous with such withholding, the Partnership shall automatically and without further action on the part of the Partnership or any Partner redeem from Management Partner a corresponding number of LP Partnership Interests for no consideration and appropriate adjustments shall be made to the operation of Section 4.1(b) in view of such Deficit Amount having thereby been taken into account.
(d) At any time C&M Inc. issues one or more shares of Class A Common Stock pursuant to a Class A Common Stock Event, effective simultaneously with such issuance, the Partnership shall automatically and without further action on the part of the Partnership or any Partner issue to C&M Inc. a corresponding number of LP Partnership Interests. C&M Inc. shall promptly contribute to the Partnership all of the net proceeds (if any) received from the issuance of such shares of Class A Common Stock.
(e) At any time C&M Inc. repurchases one or more shares of Class A Common Stock pursuant to a Class A Common Stock Event for cash, immediately prior to such repurchase, the Partnership shall automatically and without further action on the part of the Partnership or any Partner redeem from C&M Inc. a corresponding number of LP Partnership Interests, at an aggregate redemption price equal to the aggregate purchase price of the Class A Common Stock being repurchased by C&M Inc. (plus any reasonable expenses related thereto) and upon such other terms as are the same for the Class A Common Stock being repurchased by C&M Inc.
(f) At any time C&M Inc. repurchases one or more shares of Class A Common Stock or Class B Common Stock in a Forfeiture Event, immediately prior to such repurchase, the Partnership shall automatically and without further action on the part of the Partnership or any Partner redeem from Management Partner a corresponding number of LP Partnership Interests, at an aggregate redemption price equal to the aggregate purchase price of the Class A Common Stock or Class B Common Stock being repurchased by C&M Inc. (plus any reasonable expenses related thereto), if any, and upon such other terms as are the same for the Class A Common Stock or Class B Common Stock being repurchased by C&M Inc.”
2. Miscellaneous
(a) This Amendment may be executed and delivered (including by facsimile transmission or by e-mail delivery of a “.pdf” format data file) in one or more counterparts, and by the different Parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy, by e-mail delivery of a “.pdf” format data file or other electronic transmission service shall be considered original executed counterparts for purposes of this Section 2(a).
(b) This Amendment constitutes the entire agreement among the parties with respect to the subject matter hereof, superseding any prior agreement or understanding among them, oral or written.
(c) This Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice or conflict of laws provision or rule that would cause the application of the laws of any other jurisdiction. The Parties hereto hereby declare that it is their intention that this Amendment shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions in all cases where legal interpretation shall be required.
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(d) By its signature below, each of the Partners hereby consents to this Amendment. This Amendment shall be effective as of the date hereof and shall be considered an integrated part of the Agreement. Except as so modified pursuant to this Amendment, the A&R Agreement is ratified and confirmed in all respects.
(e) If any provision, including any phrase, sentence, clause, section or subsection, of this Amendment is determined by a court of competent jurisdiction to be invalid, inoperative or unenforceable for any reason, such circumstances shall not have the effect of rendering such provision in question invalid, inoperative or unenforceable in any other case or circumstance, or of rendering any other provision herein contained invalid, inoperative or unenforceable to any extent whatsoever.  Upon any such determination, the General Partner shall reasonably and in good faith modify this Amendment so as to effect the original intent of the parties as closely as possible in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.
(f) At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby in accordance with their terms and to otherwise carry out the intent of the parties hereunder.
[Remainder of page intentionally left blank.]
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IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, have duly executed this Amendment effective as of the date first set forth above.
GENERAL AND LIMITED PARTNER

CORE & MAIN, INC., in its capacity as the general partner and a limited partner

By: /s/ Stephen LeClair    
      Name: Stephen O. LeClair
      Title: Chief Executive Officer

LIMITED PARTNERS

CD&R WATERWORKS HOLDINGS, LLC, in its capacity as a limited partner

By its manager, CD&R Waterworks Holdings, L.P.
By its general partner, CD&R Waterworks Holdings GP, Ltd.

By: /s/ Rima Simson    
      Name: Rima Simson
      Title: Vice President, Treasurer and Secretary

CD&R WW, LLC, in its capacity as a limited partner

By its managing member, Core & Main, Inc.

By: /s/ Stephen LeClair    
      Name: Stephen O. LeClair
      Title: Chief Executive Officer

[Signature Page – Amendment No. 1 to the Second Amended and Restated Limited Partnership Agreement of Core & Main Holdings, LP] 

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CORE & MAIN MANAGEMENT FEEDER, LLC, in its capacity as a limited partner

By its managing member, CD&R Waterworks Holdings GP, Ltd. 

By:    /s/ Rima Simson        
      Name: Rima Simson
      Title: Vice President, Treasurer and Assistant     Secretary

[Signature Page – Amendment No. 1 to the Second Amended and Restated Limited Partnership Agreement of Core & Main Holdings, LP] 

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Exhibit 10.20
Employment Agreement
This Employment Agreement (this “Agreement”) is made effective as of February 9, 2018 (the “Effective Date”), by and between Core & Main LP (“C&M” or “Company”), of 1830 Craig Park Court, Maryland Heights, Missouri, 63146 and Mark Whittenburg. 
WHEREAS, C&M is engaged in the business of the distribution of water, sewer, storm, fusible piping and fire protection infrastructure products;
WHEREAS, Employee will primarily perform the job duties of General Counsel at the following location: 1830 Craig Park Court, Maryland Heights, Missouri;
WHEREAS, C&M desires to engage the services of Employee subject to the terms and conditions of this Agreement; and
WHEREAS, Employee is willing to be employed by C&M subject to the terms and conditions of this Agreement.
NOW, THEREFORE, for good and valid consideration, the receipt and sufficiency are hereby acknowledged, the parties agree as follows:
1. EMPLOYMENT. Effective as of the Effective Date, C&M shall employ Employee as General Counsel. Employee shall provide to C&M the services customary and reasonable to the position of General Counsel. Employee accepts and agrees to such employment, and agrees to be subject to the general supervision, advice and direction of C&M’s Chief Executive Officer.
2. BEST EFFORTS OF EMPLOYEE. Effective as of the Effective Date, Employee agrees to perform to the best of Employee’s ability, experience, and talents, all of the duties that may be required by the express and implicit terms of this Agreement. Employee shall devote Employee’s full business time to the rendition of such Services, subject to absences for customary vacations and for illness, or other job-protected absences and holidays observed by the Company. In addition, Employee will not engage in any other gainful employment which requires Employee’s personal attention if such employment creates a conflict of interest with job responsibilities under this Agreement without the prior approval of the Board, with the exception that Employee may personally trade in stock, bonds, securities, commodities or real estate investments for Employee’s own benefit, so long as such activities do not interfere with employees duties to C&M.
3. COMPENSATION AND BENEFITS OF EMPLOYEE.
a.Base Compensation. As compensation for the services provided by Employee under this Agreement, during Employee’s employment with C&M, C&M will pay Employee a minimum annual base salary of $290,000 less authorized deductions, payable in equal bi-weekly installments in accordance with the Company’s normal payroll practices. 
Employee’s base salary shall be periodically reviewed during the period that the Company conducts reviews for employees at a level comparable to Employee, and Employee’s base salary shall be subject to increase at the sole discretion of the Company based on Employee’s level of performance and the overall performance of the Company. Employee’s base salary shall be payable in accordance with the Company’s normal payroll practices and procedures. Upon termination of Employee’s employment, payments under this paragraph shall cease; provided, however, that Employee shall be entitled to payments for periods or partial periods that occurred prior to the date of termination and for which Employee has not yet been paid, and for any bonus earned in accordance with C&M’s customary procedures, if applicable. Accrued vacation will be paid at the next scheduled pay period after termination of this Agreement in accordance with C&M policy. This section of the Agreement is included only for accounting and payroll purposes and should not be construed as establishing a minimum or definite term of employment.

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b.Incentive and Deferred Compensation. During Employee’s employment with C&M, Employee shall be eligible to participate in all incentive and deferred compensation programs available to other executives or officers of C&M, such participation to be in the same form, under the same terms, and to the same extent that such programs are made available to other such executives or officers. Employee shall be eligible for a target annual bonus opportunity equal to 40% of Employee’s base salary (the “Annual Bonus”). The actual payout of the Annual Bonus will be based on the satisfaction of performance metrics established by the Board.
c.Employee Benefits. During Employee’s employment with C&M, Employee shall be eligible to participate in all employee benefit plans, policies, programs, or perquisites in which other Company executive or officers participate. The terms and conditions of Employee’s participation in C&M’s employee benefit plans, policies, programs, or perquisites shall be governed by the terms of each such plan, policy, or program. In addition to the previously-identified benefits, Employee shall be entitled to 4 weeks of paid vacation to be taken in accordance with C&M policies in effect from time to time.
4. EXPENSE REIMBURSEMENT. During Employee’s employment with C&M, C&M will reimburse Employee for “out-of-pocket” expenses incurred by Employee in accordance with C&M’s policies in effect from time to time.
5. INTELLECTUAL PROPERTY RIGHTS. All information, ideas, concepts, improvements, discoveries, and inventions, whether patentable or not, which are conceived, made, developed or acquired by Employee, individually or in conjunction with others, during Employee’s employment by C&M (whether during business hours or otherwise and whether on C&M’s premises or otherwise) which relate to C&M’s business, products or services (including, without limitation, all such information relating to corporate opportunities, research, financial and sales data, pricing and trading terms, evaluations, opinions, interpretations, acquisition prospects, the identity of customers or their requirements, the identity of key contacts within the customer’s organizations or within the organization of acquisition prospects, or marketing and merchandising techniques, prospective names, and marks), and all writings or materials of any type embodying any of such items, shall be disclosed to C&M and are and shall be the sole and exclusive property of C&M.
6. TERM/TERMINATION.
a.Notice. Employee’s employment under this Agreement shall be for an unspecified term on an “at will” basis. Employee’s employment may be terminated by C&M or by Employee upon 30 days’ written notice to the other.
b.Severance. Subject to Section 6(e), if C&M terminates Employee’s employment `other than for Cause (as defined below), Employee shall continue to receive, as severance pay, one times the sum of Employee’s current base salary and target annual bonus opportunity (the “Severance Pay”), to be paid over the twelve months following the date of termination (the “Severance Period”) in substantially equal payments. In addition, subject to Section 6(e), subject to Employee enrolling in COBRA continuation coverage, C&M shall, over the twelve months following the date of termination, pay Employee an amount equal to the monthly cost of Employee purchasing COBRA coverage for Employee and Employee’s covered dependents (the “Benefit Continuation”), except that the Benefit Continuation shall cease in the event that Employee becomes eligible for coverage from a subsequent employer. As used in this Agreement, “Cause” means (i) Employee’s commission of a crime involving fraud, theft, false statements or other similar acts or commission of any crime that is a felony (or a comparable classification in a jurisdiction that does not use these terms); (ii) Employee’s willful or grossly negligent failure to perform Employee’s employment-related duties for the Company; or (iii) Employee’s material breach of this Agreement or any noncompetition, nondisclosure or nonsolicitation provision to which Employee is a party or by which Employee is bound. The Company may terminate Employee’s employment at any time without notice for Cause; provided, that, in the case of clause (ii) and (iii) of the definition of Cause, if such event is determined by the Board to be reasonably susceptible to cure, the Company shall provide Employee with not less than thirty (30) days to cure such event. If the Company terminates the Employee’s employment for Cause, the Company shall pay the Employee only the portion of the Employee’s then current salary and any other wages accrued but unpaid as of the termination date, which shall be payable upon termination as required by applicable law.
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c.Change in employment. In the event that (A) C&M (i) assigns Employee any duty materially inconsistent with Employee’s position, (ii) reduces Employee’s base annual salary, (iii) materially breaches this Agreement, or (iv) relocates Employee’s primary work location by more than 50 miles, in each case without the consent of Employee, (B) Employee provides at least ten (10) business days’ written notice to the Company of such event, (C) the Company fails to reasonably cure such event within thirty (30) days following its receipt of such written notice and (D) Employee resigns from C&M within ten (10) business days following the end of such thirty (30) day period, then Employee shall have all the same rights and remedies under this Agreement as if C&M had terminated Employee’s employment without Cause.
d.Outplacement Services. Upon termination of Employee’s employment without Cause and subject to Section 6(e), the Company shall provide with customary outplacement services (the “Outplacement Services”), except that the maximum cost to C&M of providing such outplacement services shall not exceed $10,000.
e.Mutual Release. Employee shall not be entitled to the Severance Pay, Benefit Continuation or Outplacement Benefits unless Employee executes and delivers to C&M, within thirty (30) days following the date of termination, a fully effective release in form and substance mutually acceptable to C&M, by which Employee and C&M mutually release each other from any obligations and liabilities of any type whatsoever under this Agreement, except that (A) Employee shall not release C&M’s obligations with respect to the Termination Compensation and Employee’s rights with respect to any equity compensation held by Employee, and (B) C&M shall not release any act by Employee that constitutes a crime or other willful misconduct. In addition, the release of claims shall not affect Employee’s right to indemnification, if any, for actions taken within the scope of Employee’s employment. The first installment of the Severance Pay shall be paid on the first payroll period occurring on or after the date that is forty-five (45) days following the date of termination and shall include any installment of severance pay that would have been paid if the release of claims had been effective on the date of termination.
7. COMPLIANCE WITH EMPLOYER’S RULES. During Employee’s employment with C&M, Employee agrees to comply with all of the policies, rules and regulations of C&M.
8. RETURN OF PROPERTY. Upon termination of Employee’s employment, Employee shall deliver to C&M all property which is C&M’s property or related to C&M’s business (including keys, records, notes, data, memoranda, models, and equipment) that is in Employee’s possession or under Employee’s control.

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9. NOTICES. All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered in person or on the third day after being deposited in the United States mail, postage paid, addressed as follows:
If to C&M, to:
Core & Main LP
Laura Schneider
Chief Human Resources Officer
1830 Craig Park Court
Maryland Heights, Missouri 63146
With a copy (which shall not constitute notice) to:
Debevoise & Plimpton LLP
919 Third Avenue
New York, New York 10022
Attention: Jonathan F. Lewis
Email: jflewis@debevoise.com
If to Employee, to the most recent address in C&M’s records, which Employee shall update from time to time. The parties’ addresses shall be changed from time to time by either party by providing written notice in the manner set forth above.
10. BINDING AGREEMENT. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, personal representatives, successors and assigns. In the event C&M is acquired, is a non-surviving party in a merger, or transfers substantially all of its assets, this Agreement shall not be terminated and the transferee or surviving company shall be bound by the provisions of this Agreement. The parties understand that the obligations of Employee are personal and may not be assigned by Employee.
11. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
12. AMENDMENT. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.
13. SEVERABILITY. If any provisions of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
14. WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party’s right to subsequently enforce and compel strict compliance with every provision of this Agreement.
15. APPLICABLE LAW; WAIVER OF JURY TRIAL. This Agreement shall be governed by the laws of the State of Missouri. THE COMPANY AND EMPLOYEE ACKNOWLEDGE AND AGREE THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT THE COMPANY OR EMPLOYEE MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT.

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16. APPLICABILITY OF SECTION 409A OF THE CODE. It is intended that this Agreement comply with section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations and IRS guidance thereunder (collectively referred to as “Section 409A”). Notwithstanding anything to the contrary, this Agreement shall, to the maximum extent possible, be administered, interpreted and construed in a manner consistent with Section 409A. To the extent that any reimbursement, fringe benefit or other, similar plan or arrangement in which Employee participates while employed by C&M or thereafter provides for a “deferral of compensation” within the meaning of Section 409A, (i) the amount of expenses eligible for reimbursement provided to Employee during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to Employee in any other calendar year (except that a plan providing medical or health benefits may impose a generally applicable limit on the amount that may be reimbursed or paid); (ii) the reimbursements for expenses for which Employee is entitled to be reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred; (iii) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other benefit; and (iv) the reimbursements shall be made pursuant to objectively determinable and nondiscretionary C&M policies and procedures regarding such reimbursement of expenses. If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of Employee’s employment shall be made unless and until Employee incurs a “separation from service” within the meaning of Section 409A. If any paragraph of this Agreement provides for payment within a time period, the determination of when such payment shall be made shall be solely in the discretion of C&M. The installments of the Severance Pay shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A.
17. COUNTERPARTS; DELIVERY. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. This Agreement may be executed electronically and delivered by .pdf file or other electronic means, and such execution and delivery shall have the same effect as the manual execution of an original copy.
[Signature page follows] 
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.
						
	C&M:	
		
	Core & Main LP	
		
	By:     /s/ Steve LeClair                                
	Date:   February 9, 2018
	Name: Steve LeClair	
	Title: CEO	
		
	AGREED TO AND ACCEPTED	
		
	EMPLOYEE:	
		
	By:     /s/ Mark Whittenburg                         
	Date:   February 12, 2018
	Name: Mark Whittenburg	

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