Document:

OSI-12.31.11_EX10.57

Exhibit 10.57

Jody Bilney
    
OSI RESTAURANT PARTNERS, LLC
Amendment To 
Amended and Restated
Officer Employment Agreement

THIS AMENDMENT TO AMENDED AND RESTATED OFFICER EMPLOYMENT AGREEMENT (“Amendment”)  is entered into by and among OSI RESTAURANT PARTNERS, LLC,  a Delaware limited liability company (the “Employer”)  and JODY BILNEY (the “Employee”) to be effective for all purposes as of January 1, 2012.

WHEREAS, Employer employs Employee as Chief Brand Officer of the Employer pursuant to that certain Assignment and Amendment and Restatement of Officer Employment Agreement dated effective February 5, 2008 (the “Employment Agreement”); and 

WHEREAS, the parties hereto desire to enter into this Amendment in order to change the Employment Agreement to reflect that the Employee has been promoted to Executive Vice President and Chief Brand Officer of the Employer.

NOW, THEREFORE, intending to be legally bound, for good consideration, receipt of which is acknowledged, the parties hereby agree as follows:

1.Recitals. The parties acknowledge and agree that the above recitals are true and correct and incorporated herein by reference.

2.Change of Employee's Title. The parties acknowledge and agree that all references in the Employment Agreement to the Employee being employed as Chief Brand Officer of the Employer are hereby amended to state that the Employee is employed as Executive Vice President and Chief Brand Officer of the Employer effective January 1, 2012.

3.Ratification. All other terms of the Employment Agreement as amended hereby are hereby ratified and confirmed by each party. 

IN WITNESS WHEREOF, the parties have executed this Amendment effective as set forth above.

	
									
	 
	 
	 
	“EMPLOYEE”
	 
	 

	 
	 
	 
	/s/ Jody Bilney
	 
	 

	 
	 
	 
	JODY BILNEY
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	“EMPLOYER”
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	Attest:
	 
	OSI RESTAURANT PARTNERS, LLC,
	 
	 

	 
	 
	 
	a Delaware limited liability company
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 

	By:
	/s/ Kelly Lefferts
	 
	 
	 
	By:
	/s/ Joseph J. Kadow
	 
	 

	 
	Kelly Lefferts, Assistant Secretary     
	 
	 
	 
	 
	Joseph J. Kadow, Executive Vice PresidentQ411 Exhibit 10.47

Exhibit 10.47

STRATUS PROPERTIES INC.
DIRECTOR COMPENSATION
AS OF JANUARY 1, 2010

Cash Compensation

Each non-employee director receives an annual fee consisting of (1) $25,000 for serving on the board, (2) $1,000 for serving on each committee (including chairmen of the committee), (3) $7,000 for serving as chairman of the audit committee, and (4) $5,000 for serving as chairman of the corporate personnel committee.  In addition, each director and committee member receives $1,500 for attendance at each board and committee meeting, as well as reasonable out-of-pocket expenses incurred in attending such meetings, or $1,000 for participation in each board and committee meeting by telephone conference.

Equity-Based Compensation

Each non-employee director also receives equity-based compensation under the company's stock incentive plans, which were approved by the company's stockholders.  Under the company's current program, on September 1st of each year, each non-employee director is granted options to acquire 2,500 shares of our common stock.  The options are granted at fair market value on the grant date, vest ratably over the first four anniversaries of the grant date and expire on the tenth anniversary of the grant date.pfbi2011exhibit10-18.htm

Exhibit 10.18

April 27, 2010

Scot A. Kelley

Vice President of Credit Analysis

Premier Financial Bancorp, Inc.

2883 Fifth Avenue

Huntington, WV 25702

Dear Scot,

As you may be aware, Premier Financial Bancorp, Inc. (the “Company”) has entered into a Securities Purchase Agreement (the “Participation Agreement”), with the United States Department of Treasury (“Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase Program (the “CPP”).

As a condition of the Company’s participation in the CPP, the Company is required to establish specified standards for incentive compensation to its senior executive officers and to make changes to its compensation arrangements.  To comply with these requirements, and in consideration of the benefits that you will receive as a result of the Company’s participation in the CPP, you agree as follows:

	
  

	
(1)

	
No Golden Parachute Payments.  The Company is prohibiting any golden parachute payment to you during any “CPP Covered Period”.  A “CPP Covered Period” is any period during which (A) you are a senior executive officer and (B) Treasury holds an equity or debt position acquired from the Company in the CPP.

	
  

	
(2)

	
Recovery of Bonus and Incentive Compensation.  Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

	
  

	
(3)

	
Compensation Program Amendments.  Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2).

	
  

	
In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company.  To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

 

	
  

	
(4)

	
Definitions and Interpretation.  This letter shall be interpreted as follows:

	
  

	
·

	
“ARRA” means the American Recovery and Reinvestment Act of 2009 as implemented by guidance or regulation issued by the Department of the Treasury from time to time, including, without limitation, by 31 C.F.R. Part 30.

	
  

	
·

	
“Senior executive officer” means the Company’s “senior executive officers” as defined in subsection 111(b)(3) of EESA (as modified by ARRA).

	
  

	
·

	
“Golden parachute payment” is used with same meaning as in Section 111(b)(2)(C) of EESA (as modified by ARRA).

	
  

	
·

	
“EESA” means the Emergency Economic Stabilization Act of 2008 as implemented by guidance or regulation issued by the Department of the Treasury and as published in the Federal Register on October 20, 2008.

	
  

	
·

	
The term “Company” includes any entities treated as a single employer with the Company under 31C.F.R. § 30.1(b) (as in effect on the Closing Date).  You are also delivering a waiver pursuant to the Participation Agreement, and, as between the Company and you, the term “employer” in that waiver will be deemed to mean the Company as used in this letter.

	
  

	
·

	
The term “CPP Covered Period” shall be limited by, and interpreted in a manner consistent with, 31 C.F.R. §30.11 (as in effect on the Closing Date).

	
  

	
·

	
Provisions (1) and (2) of this letter are intended to, and will be interpreted, administered and construed to, comply with Section 111 of EESA and with ARRA (and, to the maximum extent consistent with the preceding, to permit operation of the Benefit Plans in accordance with their terms before giving effect to this letter).

	
  

	
(5)

	
Miscellaneous.  To the extent not subject to federal law, this letter will be governed by and construed in accordance with the laws of West Virginia.  This letter may be executed in two or more counterparts, each of which will be deemed to be an original.  A signature transmitted by facsimile will be deemed an original signature.

The Board appreciates the concessions you are making and looks forward to your continued leadership during these financially turbulent times.  Please be aware that if the Company ceases at any time to participate in the CPP, this letter shall be of no further force and effect.

Yours sincerely,

PREMIER FINANCIAL BANCORP, INC.

By:_/s/ Robert W. Walker_________________

Name:  Robert W. Walker

Title:  President and Chief Executive Officer

Intending to be legally bound, I agree with and

accept the foregoing terms on the date set forth

below.

/s/ Scot A. Kelley _____________________

Scot A. Kelley

Date:  April 27, 2010pfbi2011exhibit10-19.htm

Exhibit 10.19

April 27, 2010

Katrina Whitt

Vice President of Human Resources

Premier Financial Bancorp, Inc.

2883 Fifth Avenue

Huntington, WV 25702

Dear Katrina,

As you may be aware, Premier Financial Bancorp, Inc. (the “Company”) has entered into a Securities Purchase Agreement (the “Participation Agreement”), with the United States Department of Treasury (“Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase Program (the “CPP”).

As a condition of the Company’s participation in the CPP, the Company is required to establish specified standards for incentive compensation to its senior executive officers and to make changes to its compensation arrangements.  To comply with these requirements, and in consideration of the benefits that you will receive as a result of the Company’s participation in the CPP, you agree as follows:

	
  

	
(1)

	
No Golden Parachute Payments.  The Company is prohibiting any golden parachute payment to you during any “CPP Covered Period”.  A “CPP Covered Period” is any period during which (A) you are a senior executive officer and (B) Treasury holds an equity or debt position acquired from the Company in the CPP.

	
  

	
(2)

	
Recovery of Bonus and Incentive Compensation.  Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

	
  

	
(3)

	
Compensation Program Amendments.  Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2).

	
  

	
In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company.  To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

	
  

	
(4)

	
Definitions and Interpretation.  This letter shall be interpreted as follows:

	
  

	
·

	
“ARRA” means the American Recovery and Reinvestment Act of 2009 as implemented by guidance or regulation issued by the Department of the Treasury from time to time, including, without limitation, by 31 C.F.R. Part 30.

	
  

	
·

	
“Senior executive officer” means the Company’s “senior executive officers” as defined in subsection 111(b)(3) of EESA (as modified by ARRA).

	
  

	
·

	
“Golden parachute payment” is used with same meaning as in Section 111(b)(2)(C) of EESA (as modified by ARRA).

	
  

	
·

	
“EESA” means the Emergency Economic Stabilization Act of 2008 as implemented by guidance or regulation issued by the Department of the Treasury and as published in the Federal Register on October 20, 2008.

	
  

	
·

	
The term “Company” includes any entities treated as a single employer with the Company under 31C.F.R. § 30.1(b) (as in effect on the Closing Date).  You are also delivering a waiver pursuant to the Participation Agreement, and, as between the Company and you, the term “employer” in that waiver will be deemed to mean the Company as used in this letter.

	
  

	
·

	
The term “CPP Covered Period” shall be limited by, and interpreted in a manner consistent with, 31 C.F.R. §30.11 (as in effect on the Closing Date).

	
  

	
·

	
Provisions (1) and (2) of this letter are intended to, and will be interpreted, administered and construed to, comply with Section 111 of EESA and with ARRA (and, to the maximum extent consistent with the preceding, to permit operation of the Benefit Plans in accordance with their terms before giving effect to this letter).

	
  

	
(5)

	
Miscellaneous.  To the extent not subject to federal law, this letter will be governed by and construed in accordance with the laws of West Virginia.  This letter may be executed in two or more counterparts, each of which will be deemed to be an original.  A signature transmitted by facsimile will be deemed an original signature.

The Board appreciates the concessions you are making and looks forward to your continued leadership during these financially turbulent times.  Please be aware that if the Company ceases at any time to participate in the CPP, this letter shall be of no further force and effect.

Yours sincerely,

PREMIER FINANCIAL BANCORP, INC.

By:_/s/ Robert W. Walker__________________

Name:  Robert W. Walker

Title:  President and Chief Executive Officer

Intending to be legally bound, I agree with and

accept the foregoing terms on the date set forth

below.

/s/ Katrina Whitt_______________________

Katrina Whitt

Date:  April 27, 2010

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}]]