Document:

Second Amendment to Executive Separation Allowance Plan

 Exhibit 10.1 
 Second Amendment to 
 The Progressive Corporation 

Executive Separation Allowance Plan 
 (2006 Amendment and Restatement) 
 WHEREAS, The Progressive
Corporation Executive Separation Allowance Plan (“Plan”) is currently maintained pursuant to the 2006 Amendment and Restatement; and 
 WHEREAS, it is deemed desirable to amend the Plan further; 
 NOW, THEREFORE,
effective May 22, 2009, the Plan is hereby amended as set forth below: 
  

	1.	Sections 2.1 and 2.3 are hereby amended and restated in their entirety to provide as follows: 

“2.1 An Eligible Employee shall be entitled to receive a separation allowance under this Plan if (i) Progressive terminates
his/her employment for reasons other than resignation (including retirement), death, disability (except as provided in Section 2.3 below), leave of absence or discharge for Cause, and (ii) the Eligible Employee signs a Termination
Agreement and General Release and delivers it to the Company within forty-five (45) days after the Eligible Employee’s Separation Date. 
 *** 
 2.3 Notwithstanding the preceding provisions of this Section 2, no
Eligible Employee shall be entitled to receive a separation allowance if he/she is on a medical or other leave of absence, except for an Eligible Employee who, on his or her Separation Date, is receiving long-term disability benefits under the
Applicable Group Insurance Plan or is on a qualifying leave pursuant to the Family and Medical Leave Act, the Uniformed Services Employment and Reemployment Rights Act, or any other local, state or federal law pursuant to which the Eligible Employee
has a lawful right to a separation allowance upon termination of employment or resignation due to Job Change.” 
  

	2.	Section 4.1 of the Plan is hereby amended and restated in its entirety to provide as follows: 

“4.1 An Eligible Employee whose employment has been terminated under the Plan may elect to continue his/her and his/her
dependents’ medical, dental and vision coverages, if any, under the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”), as further provided in the Applicable Group Insurance Plan (to the extent he/she and his/her dependents
were receiving such coverages immediately prior to his/her Separation Date), for the period provided in the Applicable Group Insurance Plan and subject to the terms and conditions thereof. If a terminated Eligible Employee who is entitled to a
separation allowance under the preceding provisions of this Plan elects to continue his/her and/or his/her dependents’ medical, dental and/or vision coverages under the Applicable Group Insurance Plan, the Eligible Employee’s Participating
Employer will pay the cost of continuing such coverages for a period not to exceed the number of weeks of Compensation used in computing the amount of his/her separation allowance under Section 3.1 above, provided that the Eligible Employee
makes payments to the Participating Employer at such times as the Participating Employer shall specify equal to the contributions the Eligible Employee would have had to make for those coverages for

  
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such period had he/she continued to receive those coverages as an active employee during such period, all as determined by the Participating Employer.” 

 

	3.	Section 3 of the Executive Separation Agreement and General Release attached to the Plan as Exhibit A is hereby amended and restated in its entirety to provide as
follows: 

 “3. Executive shall be entitled to continue his/her and his/her dependents’ medical, dental
and vision coverages under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), as further provided in The Progressive Health, Life and Disability Benefits Plan (“Group Insurance Plan”), for the period specified
in the Group Insurance Plan, subject to the terms, conditions and limitations of the Group Insurance Plan. If Executive elects to continue any of such coverages, Employer shall pay the cost of continuing such coverages for a period not to exceed the
number of weeks of Compensation used in computing the amount of the Executive’s Separation Allowance under Section 1 above, provided that Executive makes payments to Employer at such times as Employer shall specify equal to the
contributions the Executive would have had to make for those coverages for such period had he/she continued to receive those coverages as an active Executive during such period, all as determined by Employer. Executive also shall be entitled to the
conversion privileges, if any, applicable to his/her life insurance and/or other coverages under the Group Insurance Plan.” 
  

	4.	Except as expressly set forth in this Amendment, the terms and provisions of the Plan shall remain entirely unchanged and continue in full force and effect.

 IN WITNESS WHEREOF, the Company has hereunto caused this Amendment to be executed by its
duly authorized representative as of the 22nd day of May,
2009. 
  

			
	The Progressive Corporation
		
	By:	 	 

			
		
	Title:	 	 

  
 2Third Amendment to Executive Separation Allowance Plan

 Exhibit 10.2 
 THIRD AMENDMENT TO 
 THE PROGRESSIVE CORPORATION 

EXECUTIVE SEPARATION ALLOWANCE PLAN 
 (2006 AMENDMENT AND RESTATEMENT) 
 WHEREAS, The Progressive
Corporation Executive Separation Allowance Plan (“Plan”) is currently maintained pursuant to the 2006 Amendment and Restatement and two amendments thereto; and 
 WHEREAS, it is deemed desirable to amend the Plan further; 
 NOW, THEREFORE,
effective April 28, 2011, the Plan is hereby amended as set forth below: 
  

	1.	Section 3.1 is hereby amended and restated in its entirety to provide as follows: 

3.1 The separation allowance payable to each Eligible Employee who is entitled to such allowance under Section 2 above shall be
equal to the number of weeks of Compensation set forth in the table below, based on the Eligible Employee’s Grade Level and Years of Service as of his/her Separation Date: 

 

					
	
Eligible Employees at Grade

Levels 47 through 52
	 	 	  	 26 weeks of Compensation plus two additional
weeks
 of Compensation for each full Year of Service in
 excess of 13 Years of Service, not to exceed an
 aggregate of 52 weeks of
Compensation

	 Eligible Employees
at
 Grade Levels 53, 54 and 55
	 	 	  	52 weeks of Compensation
	 The
Company’s Chief
 Executive Officer and Eligible
 Employees who (i) report
 directly to him/her and (ii)

have no assigned Grade Level
	 	 	  	 •      Less than one Year of Service: 52 weeks of
Compensation
 •      At least one, but less than two, Years of Service:
104 weeks of Compensation

•      At least two Years of Service: 156 weeks
of
Compensation

  

	2.	Except as expressly set forth in this Amendment, the terms and provisions of the Plan shall remain entirely unchanged and continue in full force and effect.

 IN WITNESS WHEREOF, the Company has hereunto caused this Amendment to be executed by its duly authorized
representative as of the 28th day of April, 2011. 
  

			
	The Progressive Corporation
		
	By:	 	 
		
	Title:Third Amendment to Loan and Security Agreement, dated as of April 15, 2011

 Exhibit 4.9.3 
 THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 THIS THIRD AMENDMENT TO
LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of April _15_, 2011 is entered into by and among the Lenders signatory hereto, BANK OF AMERICA, N.A., as Agent for the Lenders (in such capacity,
“Agent”), HEADWATERS CONSTRUCTION MATERIALS, INC., a Utah corporation (“HCM”), TAPCO INTERNATIONAL CORPORATION, a Michigan corporation (“Tapco”), and HEADWATERS RESOURCES, INC.,
a Utah corporation (“HRI”, and together with HCM, Tapco, and each of HRI’s, HCM’s and Tapco’s subsidiaries identified on the signature pages hereof, each individually a “Borrower”, and
collectively, the “Borrowers”). 
 RECITALS 

A. Borrowers, Agent and the lenders party thereto from time to time (each a “Lender” and collectively the
“Lenders”) have previously entered into that certain Loan and Security Agreement dated as of October 27, 2009 (as amended, supplemented, restated and modified from time to time, the “Loan Agreement”), pursuant
to which the Lenders have made certain loans and financial accommodations available to Borrowers. Terms used herein without definition shall have the meanings ascribed to them in the Loan Agreement. 

B. Borrowers have requested that Agent and the Required Lenders amend the Loan Agreement, which Agent and the Required Lenders are
willing to do pursuant to the terms and conditions set forth herein. 
 D. Borrowers are entering into this Amendment with the
understanding and agreement that, except as specifically provided herein, none of Agent’s or any Lender’s rights or remedies as set forth in the Loan Agreement is being waived or modified by the terms of this Amendment. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Amendments to Loan Agreement. 
 (a) Section 8.3.3. of the Loan Agreement is hereby amended and restated in its
entirety to read as follows: 
 “8.3.3. Acquisition, Sale and Maintenance. No Borrower shall acquire or accept any
Inventory on consignment or approval, and shall take all steps to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA. No Borrower shall sell any Inventory on consignment or approval or any other basis under
which the customer may return or require a Borrower to repurchase such Inventory; provided, however, that Borrowers may consign Inventory in the ordinary course of business so long as the aggregate value of all such Inventory consigned
at any one time does not exceed $4,000,000; provided, further, that the aggregate amount of all Inventory on consignment as of the last day of any calendar month shall be reported in the Compliance Certificate delivered for such month pursuant to
Section 10.2.1(c). Borrowers shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity with all Applicable Law, and shall make current rent
payments (within applicable grace periods provided for in leases) at all locations where any Collateral is located.” 

 2. Effectiveness of this Amendment. The following shall have occurred before this
Amendment is effective: 
 (a) Amendment. Agent shall have received this Amendment, executed by Borrowers and each
Required Lender, and the attached Acknowledgement by Guarantor, executed by Headwaters Incorporated, a Delaware corporation, in a sufficient number of counterparts for distribution to all parties. 

(b) Representations and Warranties. The representations and warranties set forth herein must be true and correct. 

(c) No Default. No event has occurred and is continuing that constitutes an Event of Default. 

(d) Other Required Documentation. All other documents and legal matters in connection with the transactions contemplated by this
Amendment shall have been delivered or executed or recorded and shall be in form and substance satisfactory to Agent. 
 3.
Representations and Warranties. Each Borrower represents and warrants as follows: 
 (a) Authority. Each Borrower
has the requisite power and authority to execute and deliver this Amendment, and to perform its obligations hereunder and under the Loan Documents (as amended or modified hereby) to which it is a party. The execution, delivery and performance by
each Borrower of this Amendment have been duly approved by all necessary action and no other proceedings are necessary to consummate such transactions. 
 (b) Enforceability. This Amendment has been duly executed and delivered by each Borrower. This Amendment and each Loan Document to which each Borrower is a party (as amended or modified hereby) is
the legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’
rights generally or by general principles of equity, and is in full force and effect. 
 (c) Representations and
Warranties. The representations and warranties contained in each Loan Document to which each Borrower is a party (other than any such representations or warranties that, by their terms, are specifically made as of a date other than the date
hereof) are correct on and as of the date hereof as though made on and as of the date hereof. 
 (d) Due Execution. The
execution, delivery and performance of this Amendment are within the power of each Borrower, have been duly authorized by all necessary corporate action, have received all necessary governmental approval, if any, and do not contravene any law or any
contractual restrictions binding on such Borrower. 
 (e) No Default. No event has occurred and is continuing that
constitutes an Event of Default. 
 4. Choice of Law. The validity of this Amendment, its construction, interpretation
and enforcement, the rights of the parties hereunder, shall be determined under, governed by, and construed in accordance with the internal laws of the State of California, without giving effect to any conflict of law

  
 2 

 
principles (but giving effect to Federal laws relating to national banks). The consent to forum and arbitration provisions set forth in Section 14.15 of the Loan Agreement are hereby
incorporated in this Amendment by reference. 
 5. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties and separate counterparts, each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed
counterpart of a signature page to this Amendment by telefacsimile or a substantially similar electronic transmission shall have the same force and effect as the delivery of an original executed counterpart of this Amendment. Any party delivering an
executed counterpart of this Amendment by telefacsimile or a substantially similar electronic transmission shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect
of such agreement. 
 6. Reference to and Effect on the Loan Documents. 

(a) Upon and after the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to “the Loan Agreement”, “thereof” or words of like import referring to the Loan
Agreement, shall mean and be a reference to the Loan Agreement as modified and amended hereby. 
 (b) Except as specifically
amended above, the Loan Agreement and all other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of
Borrowers to Agent and the Lenders. 
 (c) The execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of Agent or any Lender under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 

(d) To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or
conditions of the Loan Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Loan Agreement as modified or amended hereby. 

7. Ratification. Each Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the Loan
Agreement, as amended hereby, and the Loan Documents effective as of the date hereof. 
 8. Estoppel. To induce Lenders
to enter into this Amendment and to continue to make advances to Borrowers under the Loan Agreement, each Borrower hereby acknowledges and agrees that, as of the date hereof, there exists no right of offset, defense, counterclaim or objection in
favor of such Borrower as against Agent or any Lender with respect to the Obligations. 
 9. Integration. This Amendment,
together with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

  
 3 

 10. Severability. In case any provision in this Amendment shall be invalid, illegal
or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[Remainder of Page Left Intentionally Blank] 

  
 4 

 IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written. 
  

			
	BORROWERS:
	
	 HEADWATERS RESOURCES, INC.,
 a Utah corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 METAMORA PRODUCTS CORPORATION OF ELKLAND,
 a Pennsylvania corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 HEADWATERS SERVICES CORPORATION,
 a Utah corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 HEADWATERS CONSTRUCTION MATERIALS, INC.,
 a Utah corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 HCM UTAH, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

  
 5 

			
	HEADWATERS CONSTRUCTION MATERIALS, LLC,
	a Texas limited liability company
		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 HCM STONE, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 DUTCH QUALITY STONE, INC.,
 an Ohio corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ELDORADO SC-ACQUISITION CO.,
 a Utah corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ELDORADO G-ACQUISITION CO.,
 a Utah corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ELDORADO STONE LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

  
 6 

			
	ELDORADO STONE ACQUISITION CO., LLC,
	a Utah limited liability company
		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ELDORADO STONE FUNDING CO., LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 STONECRAFT MANUFACTURING, LLC,
 an Ohio limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 CHIHUAHUA STONE, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ELDORADO STONE OPERATIONS, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 L-B STONE, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

  
 7 

			
	TAPCO INTERNATIONAL CORPORATION,
	a Michigan corporation
		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 METAMORA PRODUCTS CORPORATION,
 a Michigan corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 MTP, INC.,

an Ohio corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 ATLANTIC SHUTTER SYSTEMS, INC.,
 a South Carolina corporation

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 INSPIRE SERVICES, LLC,
 a Michigan limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

	
	 STONECRAFT SALES, LLC,
 a Michigan limited liability company

		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

  
 8 

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

		
	By:	 	 /s/ Todd Eggertsen

	Name:	 	Todd Eggertsen
	Title:	 	Vice President
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Gregg L. Corey

	Name:	 	 Gregg L. Corey

	Title:	 	 Vice President

	
	 ZIONS FIRST NATIONAL BANK,
 as a Lender

		
	By:	 	 /s/ Tracy A. Groll

	Name:	 	 Tracy A. Groll

	Title:	 	 Senior Vice President

  
 9 

 ACKNOWLEDGEMENT BY GUARANTOR 

Dated as of April _15_, 2011 
 The undersigned, being a Guarantor (“Guarantor”) under that certain Guaranty and Security Agreement dated as of October 27, 2009 made in favor of Agent (as amended, supplemented or
otherwise modified from time to time, the “Guaranty”), hereby acknowledges and agrees to the foregoing Third Amendment to Loan and Security Agreement (the “Amendment”) and confirms and agrees that the Guaranty is
and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that, upon the effectiveness of, and on and after the date of the Amendment, each reference in such Guaranty to the Loan Agreement (as
defined in the Amendment), “thereunder”, “thereof” or words of like import referring to the “Loan Agreement”, shall mean and be a reference to the Loan Agreement as amended or modified by the Amendment. Although Agent
has informed Guarantor of the matters set forth above, and Guarantor has acknowledged the same, Guarantor understands and agrees that Agent has no duty under the Loan Agreement, the Guaranty or any other agreement with Guarantor to so notify
Guarantor or to seek such an acknowledgement, and nothing contained herein is intended to or shall create such a duty as to any advances or transaction hereafter. 

 

			
	HEADWATERS INCORPORATED,
	a Delaware corporation
		
	By:	 	 /s/ Donald P. Newman

	Name:	 	 Donald P. Newman

	Title:	 	 CFO

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