Document:

Prudential Supplemental Employee Savings Plan

 Exhibit 10.1 
  
 PRUDENTIAL SUPPLEMENTAL 
 EMPLOYEE SAVINGS PLAN 
  
 The Prudential Supplemental Employee Savings Plan (the “2001 Plan”) was established by The Prudential Insurance Company of America (the “Company”), effective January 1, 2001 primarily for the purpose of providing
unfunded benefits for certain eligible employees (and their beneficiaries) that are in excess of the limits on contributions to The Prudential Employee Savings Plan (“PESP”) imposed by Section 401(a)(17) and 415(c)(1)(A) of the Internal
Revenue Code of 1986, as amended (the “Code”). The credited benefits relating to the portion of the 2001 Plan (including the Prior Programs, as hereinafter defined) that provided unfunded benefits in excess of the limits imposed by Section
415(c)(1)(A) of the Code are intended to be, and shall be administered as, an “excess benefit plan” within the meaning of Section 3(36) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The remainder
of the Plan is intended to be, and shall be administered as, an unfunded plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of Title I of
ERISA. 
  
 The 2001 Plan was an amendment and restatement of The
Prudential Insurance Company of America Defined Contribution Excess Program, The Prudential Insurance Company of America Non-Qualified Deferred Compensation Plan, and The Prudential Insurance Company of America Supplemental Savings Program (also
known as The Prudential Insurance Company of America Supplemental Executive Savings Plan), each as maintained by the Company prior to January 1, 2001 (collectively, the “Prior Programs”). 
  
 Effective December 18, 2001 the Company made an Initial Public Offering of
common stock and demutualized under a Plan of Reorganization. The Company desired to confirm participation in this Plan by all members of the Controlled Group who are Employers, as defined by PESP and to eliminate future credits under the excess
benefit plan portion of this Plan. Therefore, the 2001 Plan was amended, restated and readopted effective January 1, 2002 as the Prudential Supplemental Employee Savings Plan (the “Plan”) with the terms provided below, including the
elimination of future benefits for PESP benefits in excess of the limits imposed by Section 415(c)(1)(A) of the Code. 
  
 Effective January 1, 2004, employees designated as Global Derivatives Financial Advisors are excluded from coverage by the Plan. Also effective as of
January 1, 2004, matching contributions will only be credited for periods when the Participant is eligible for a Company Matching Contribution under The Prudential Employee Savings Plan. 
  
 Amounts credited, but not yet paid under the Prior Programs or under the 2001 Plan prior to the Effective Date shall be
paid, administered, and continue to accrue interest pursuant to the terms of this Plan. 
  
 ARTICLE I. 
  
 DEFINITIONS 
  
 The
following terms shall have the meanings hereinafter set forth. Other terms that are capitalized in this Plan and that are not defined below shall be defined in the same manner as they are defined in PESP. 
  
 1.1 “Account” means the recordkeeping account maintained for a
Participant under the Plan to credit a Participant with the amounts that he or she may become entitled to under the terms of Article III of the Plan. For internal recordkeeping purposes only, the Company, in its discretion, may subdivide each
Participant’s Account into various subaccounts. 
  
 1.2
“Board of Directors” means the Board of Directors of the Company. 
  

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 1.3 “Code” means the Internal Revenue Code of 1986, as amended, together with its related rules
and regulations, as presently enacted and as they may be amended from time to time. References to any Section of the Code shall include any successor provision. 
  

1.4 “Code Compensation Limit” means the requirement, set forth under Code Section 401(a)(17), that the annual compensation of each employee
taken into account under a qualified profit sharing or retirement plan and trust for any year cannot exceed $200,000 annually, adjusted for inflation ($205,000 in 2004). 
  
 1.5 “Committee” means the Administrative Committee described in PESP, unless otherwise exercised or designated
under the provisions of Section 6.1(b) of the Plan. 
  
 1.6
“Company” means The Prudential Insurance Company of America. 
  
 1.7 “Compensation” means “Earnings” as defined in PESP, except that Compensation shall be computed without regard to the limits imposed by the Code Compensation Limit. 
  
 1.8 “Controlled Group” means the Company and (i) each corporation
which is a member of a controlled group of corporations (within the meaning of Section 414(b) of the Code) which includes the Company, (ii) each trade or business (whether or not incorporated) which is under common control with the Company (within
the meaning of Section 414(c) of the Code, (iii) each organization included in the same affiliated service group (within the meaning of Section 414(m) of the Code) as the Company, and (iv) each other entity required to be aggregated with the Company
pursuant to regulations promulgated under Section 414(o) of the Code. Any such entity shall be treated as part of the Controlled Group only for the period while it is a member of the controlled group or considered to be in a common control group.

  
 1.9 “Earnings” shall have the meaning set forth in
PESP. 
  
 1.10 “Effective Date” means January 1, 2002.

  
 1.11 “Eligible Employee” means an Employee who meets
the eligibility requirements of Section 2.1 of the Plan. 
  
 1.12
“Employee” means an individual employed by any Employer (including, for these purposes, any individual who is not a common law employee of such Employer) who is also a participant, as of any relevant date, in PESP. 
  
 1.13 “Employer” means the Company or any other member of the
Controlled Group that is an Employer as determined under PESP. 
  
 1.14 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, together with its related rules and regulations, as presently enacted and as they may be amended from time to time. References to any section of
ERISA shall include any successor provision. 
  
 1.15
“401(a)(17) Deferral” means the amount credited to a Participant’s Account under the Plan pursuant to Section 3.4 herein, including amounts credited under the Prior Program called The Prudential Insurance Company of America
Non-Qualified Deferred Compensation Plan and interest credited thereon. 
  
 1.16 “401(a)(17) Matching Contribution” means the amount credited to a Participant’s Account under the Plan pursuant to Section 3.5 herein, including contributions credited under the Prior Program called The Prudential
Insurance Company of America Supplemental Savings Program and interest credited thereon. 
  
 1.17 “Participant” means an Eligible Employee described in Article II who is receiving credits to his or her Account under the Plan pursuant to Article III. A Participant also includes an Eligible Employee
who has 

  

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previously received credits under the Plan, the 2001 Plan or one of the Prior Programs, but in each case has not received full payment of his or her Account
under the Plan, the 2001 Plan or such Prior Programs. 
  
 1.18
“PESP” means The Prudential Employee Savings Plan, as most recently amended and restated effective as of January 1, 2002, as the same may be in effect from time to time, including any successor plan. 
  
 1.19 “Plan” means this Prudential Supplemental Employee Savings
Plan, as amended from time to time. “2001 Plan” means the Prudential Supplemental Employee Savings Plan as in effect from January 1, 2001 through close of business December 31, 2001. 
  
 1.20 “Prior Programs” means The Prudential Insurance Company of
America Defined Contribution Excess Program, The Prudential Insurance Company of America Non-Qualified Deferred Compensation Plan, and The Prudential Insurance Company of America Supplemental Savings Program (also known as The Prudential Insurance
Company of America Supplemental Executive Savings Plan) as in effect from time to time prior to January 1, 2001. 
  
 1.21 “Termination of Employment” means an individual’s voluntary or involuntary termination of employment with the Controlled Group for any
reason, including death. An individual who is receiving short-term disability benefits under the Prudential Welfare Benefits Plan shall be deemed to have incurred a Termination of Employment on the date such benefits are exhausted, unless such
individual has returned to work within the Controlled Group or continues on a paid or unpaid leave of absence as an accommodation for the individual’s disability. 
  
 1.22 “VP Human Resources” means the individual who is the most senior Vice President of the Company with overall
responsibility for corporate human resources, or the successor to his or her duties relating to human resources. (As of the Effective date, this individual was the Executive Vice President of Human Resources. As of June 21, 2002, this individual is
the Senior Vice President, Corporate Human Resources.) 
  
 ARTICLE II. 
  
 ELIGIBILITY
AND PARTICIPATION 
  
 2.1 Eligibility. 
  
 Each Employee whose 
  
 (i) Compensation for purposes of determining the amount of
Before-Tax or Company Matching Contributions that may be allocated on his or her behalf to PESP is limited by reason of the Code Compensation Limit; and 
  
 (ii) As of the time that the Code Compensation Limit is reached for a particular Plan Year, is either (A) deferring Earnings under PESP or
(B) has been precluded from continuing to defer Earnings in such Plan Year under PESP due to the operation of the limitation on contributions of elective deferrals under Section 402(g) of the Code and/or the Code nondiscrimination test on
contributions of elective deferrals under Code Section 401(k)(3); and 
  
 (iii) Who is not classified by the Employer as a Global Derivatives Financial Advisor (or an equivalent successor classification); 
  
 shall be deemed to be an “Eligible Employee” for purposes of participating in the Plan on or after the Effective Date. 

 
 2.2 Election to Participate in the Plan. 
  

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 (a) General. Each Eligible Employee (and each individual participating in PESP or
this Plan who could become an Eligible Employee during the following Plan Year because of increases in Compensation) may elect to participate in the Plan during the following Plan Year, but only if such election is made in writing and received by
the Committee, or its designee, prior to the beginning of the following Plan Year. 
  
 (b) “Late” Elections. Notwithstanding the provisions of Section 2.2(a) above, each individual who (i) becomes eligible to
participate in PESP or otherwise becomes an Eligible Employee for the first time on or after the beginning of a Plan Year, or (ii) who again becomes an Eligible Employee after a period of ineligibility for any reason (but not within the same Plan
Year), may elect to participate in the Plan during the remainder of such Plan Year, but only if such election is made in writing and received by the Committee, or its designee, no later than 30 days after the date he or she first becomes an Eligible
Employee. 
  
 (c) Election is Irrevocable.
An election made under this Section 2.2 may not be revoked by the Participant once a Plan Year has commenced (or if the election is made under Section 2.2(b), once the election form is received by the Committee or its designee within such 30 day
period) and shall remain in force until the last day of any Plan Year to which it applies (or, if earlier, the Participant’s Termination of Employment in such Plan Year). 
  
 (d) Elections Required; Form of Election. Each Eligible Employee must file an affirmative election to
participate for the initial Plan Year of participation and for any subsequent Plan Year as determined by the Committee. Except as otherwise provided by the Committee, an election for a Plan Year that is not changed will become the election for the
succeeding Plan Years. Each election or change in election must be at a time, under terms, and in a form or manner satisfactory to the Committee or its designee. 
 2.3 Date Participation Commences. 
  
 (a) Each Eligible Employee who has elected to participate in the Plan by completing the form specified in Section 2.2(d) shall become a Participant and commence participation under Article III of the Plan during each
Plan Year as of the payroll period when the Eligible Employee’s Compensation first exceeds the limit imposed by the Code Compensation Limit. 
  
 (b) Any Participant (including Participants in the Prior Programs or the 2001 Plan) who was an Eligible Employee and became a Participant,
but who for a subsequent Plan Year would not qualify as an Eligible Employee, will continue as a Participant with an Account. However, such Participant will not be eligible for any contribution credits under Article III until the Participant again
becomes an Eligible Employee for a year and meets the terms of Sections 2.2 and 2.3. 
  
 ARTICLE III. 
  
 CONTRIBUTION CREDITS 
  
 3.1 401(a)(17) Deferral. Each Participant’s Compensation for a Plan Year shall be reduced on a pre-tax basis by the amount of a 401(a)(17) Deferral credited to such Participant under the Plan for the Plan
Year. 
  
 The amount of 401(a)(17) Deferral that may be credited
to a Participant’s Account under the Plan for any Plan Year will be equal to a percentage of the Participant’s Earnings selected at the direction of the Participant (at a time and in a form or manner satisfactory to the Committee or its
designee), but not more than the maximum percentage of Earnings that results in a Company Matching Contribution under section 4.04(a) of PESP (4% as of the Effective Date). However, notwithstanding the selected percentage, the 401(a)(17) Deferral
credit shall not be more than the additional amount that would have been allocated to PESP on the Participant’s behalf as Before-Tax Contributions but for the application of the Code Compensation Limit for such Plan Year. 
  
 3.2 401(a)(17) Matching Contribution. 
  
 (a) The amount of 401(a)(17) Matching Contribution that
shall be credited to a Participant’s Account for any Plan Year shall equal the amount of 401(a)(17) Deferral, if any, credited to his or her Account for 

  

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the same Plan Year herein; provided, however, that if a Participant’s Earnings are not reduced by a 401(a)(17) Deferral during the last
month of the Plan Year due to the Employer’s failure to timely commence payroll deductions, such Participant shall still be credited with 401(a)(17) Matching Contribution in the amount that would have been credited if such 401(a)(17) Deferral
had been timely deducted from the Participant’s paycheck. 
  
 (b) Notwithstanding anything in this Plan to the contrary, a 401(a)(17) Matching Contribution shall be credited to a Participant’s Account only for any Plan Year or portion of a Plan Year for which the
Participant is eligible to receive a Company Matching Contribution under PESP. 
  
 3.3 Vesting. A Participant shall be fully vested in all amounts credited to his or her Account under the Plan (including, but not limited to, amounts credited to his or her Account under the terms of the 2001
Plan and the Prior Programs). 
  
 3.4 No Impact on Other
Benefits. Amounts credited to a Participant’s Account under this Article III shall not be included in a Participant’s Compensation for purposes of calculating benefits under any other program, plan or arrangement sponsored by an
Employer, unless such program, plan or arrangement expressly provides that such amount credited to a Participant under this Plan shall be included. 
  
 3.5 Qualified Military Service. 
  
 (a) If an Eligible Employee whose employment rights are protected by the Uniformed Services Employment and Reemployment Rights Act of 1994
(USERRA) is reemployed by an Affiliate, such Employee may elect to make 401(a)(17) Deferrals as permitted under the Plan for the period during which the Employee was in “qualified military service” (as defined under USERRA). The Employee
shall designate the Plan Year(s) to which 401(a)(17) Deferrals relate. Such 401(a)(17) Deferrals may be made during the period beginning on the date of the reemployment of such Employee, and must be made by the end of the period that is the lesser
of (1) the product of 3 and the period of qualified military service, or (2) 5 years following the date of such reemployment. 
  
 (b) In the event an Employee makes 401(a)(17) Deferrals in accordance with subsection (a) above, any corresponding 401(a)(17) Matching
Contributions shall be made based on the rate of matching contributions in effect for the Plan Year to which the 401(a)(17) Deferrals relate, as determined by the Employee’s election under subsection (a) above. 
  
 (c) In the event any contributions are made pursuant to
subsections (a) and (b) above, the Employee shall not be entitled to retroactive earnings on such contributions. 
  
 (d) An Eligible Employee whose employment rights are protected by USERRA and who returns to employment with an Affiliate following a
period of qualified military service shall, for purposes of this Section 3.5, be treated as receiving Earnings equal to the Earnings the Eligible Employee would have received during such period if the Eligible Employee were not in qualified military
service, determined based on the rate of pay the Eligible Employee would have received but for the absence; provided, however, if the amount of Earnings the Eligible Employee would have received during such period is not reasonably certain, Earnings
for this purpose shall equal the Eligible Employee’s average Earnings during the 12 months immediately preceding the qualified military service (or, if shorter, the period of employment immediately preceding the qualified military service).

  
 ARTICLE IV. 
  
 VALUATION AND INTEREST
ON CONTRIBUTION CREDITS 
  
 4.1 Crediting of Contribution Credits. Contribution credits under Article III shall be credited to a Participant’s Account as soon as practicable after the end of each payroll period, and as of the same
time such amount would have been contributed to the Participant’s respective PESP Accounts. 
  

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 4.2 Interest Credits. Amounts credited to a Participant’s Account shall begin to accrue an
interest credit on the date such amounts are credited under the Plan and continue to accrue an interest credit until the date such amounts are distributed to the Participant. Interest credits shall be computed at a rate equal to the interest rate
credited to the Prudential Fixed Rate Fund under PESP (or its successor stable value fund). The Company reserves the right to change the interest crediting rate for future periods at any time by amendment to the Plan. 
  
 4.3 Valuation. A Participant’s Account under the Plan shall be
valued (including the addition of interest credits under Section 4.2 herein) daily. 
  
 ARTICLE V. 
  
 PAYMENT OF PLAN BENEFITS 
  
 5.1 General Provision. Except as provided in Section 5.2 herein, a Participant’s Account shall be paid to such Participant in a lump sum
within sixty (60) days following his or her Termination of Employment, or as soon as practicable thereafter; provided that, upon the death of a Participant, such Account shall, to the extent remaining unpaid, be paid to such
Participant’s Beneficiary as designated or otherwise determined under PESP in a lump sum within sixty (60) days following the Participant’s death, or as soon as practicable thereafter. 
  
 5.2 Incapacity of Recipient. If any person entitled to a benefit
payment under the Plan is, in the opinion of the Committee, at any time physically or mentally incapable of personally receiving and giving a valid receipt for any payment under the Plan, the Committee may, unless and until a claim shall have been
made by a duly qualified guardian, conservator, or committee of such person, direct payment thereof to any person or institution then, in the opinion of the Committee, contributing toward or providing for the care or maintenance of such person, and
such payment shall completely discharge all liability with respect to the amount so paid. 
  
 ARTICLE VI. 
  
 ADMINISTRATION OF THE PLAN 
  
 6.1 Administration of the Plan. 
  
 (a) The Plan shall be administered by the Committee. The Committee shall maintain such procedures and records as will enable the Committee
to determine the Participants and their Beneficiaries who are entitled to receive a benefit under the Plan and the amounts thereof. 
  
 (b) The VP Human Resources may, in his or her sole discretion, (i) exercise the authority of the Committee and act as the Committee in
administering the Plan, or (ii) designate either the Vice President, Compensation (or the successor to the human resource duties thereof), or the Vice President, Benefits of the Company (or the successor to the human resource duties thereof) to
exercise the authority of the Committee and act as the Committee in administering the Plan on his or her behalf. Unless specifically stated to the contrary, any reference to the Committee is to be taken as a reference to the persons specified in
this subsection who are exercising the authority of the Committee. 
  
 6.2 General Powers of Administration. 
  
 (a) The Committee (including a person exercising the authority of the Committee under Section 6.1) or a delegate named by the Committee shall have full discretionary authority to determine all questions and matters that may arise in the
administration of the Plan or in carrying out its responsibilities or exercising any authority under the Plan, including without limitation the resolution of questions of fact and interpretation or application of the Plan provisions. Benefits under
this Plan shall be paid only if the Committee or its delegate (such as a named Appeals Committee) decides in its sole discretion that the 

  

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applicant is entitled to them. In all such cases, each decision of the Committee or its delegate shall be final and binding upon all parties. Any Appeals
Committee designated by the PESP Administrative Committee shall be responsible for the claims and appeals procedures under this Plan, subject to the supervision of the Committee, unless otherwise determined by the Committee. 
  
 (b) Provisions set forth in or pursuant to PESP with respect
to the claims and appeals procedures, the effects of exhaustion of or failure to exhaust appeals, and indemnification of individuals acting for the Plan shall also be applicable with respect to the Plan, except as otherwise determined by the
Committee. 
  
 6.3 Beneficiary Designation. Any designation
by a Participant of a Beneficiary under PESP, or determination of a Beneficiary under PESP, shall also apply for purposes of this Plan. Any provisions of PESP governing the manner of designating or recognizing a Beneficiary or limiting the amount of
a benefit payable to such person shall also apply for purposes of this plan. 
  
 ARTICLE VII. 
  
 AMENDMENT AND TERMINATION 
  
 7.1 Amendment and Termination. 
  
 (a) The Company reserves the right to amend or terminate the Plan in any respect and at any time, and may do so pursuant to a written
resolution of the Board of Directors or the Compensation Committee of the Board of Directors; provided, however, that no amendment or termination of the Plan shall directly or indirectly reduce the amount credited to any
Participant’s Account under the Plan as of the adoption of such amendment or termination of the Plan (or, if later, the effective date of such amendment or termination of the Plan). Notwithstanding the foregoing, the following will not be
deemed a direct or indirect reduction of amounts credited to any Participant’s Account for these purposes: 
  
 (1) Acceleration of payment of Plan benefits in compliance with Section 7.2. 
  
 (2) A reduction of an Account under this Plan if a
comparable account or benefit increase occurs in another plan or program as the result of or concurrent with an amendment or termination of the Plan. 
  
 (b) The VP Human Resources may adopt minor amendments to the Plan without approval by the Compensation Committee of the Board of Directors
that are (i) minor changes necessary or advisable for purposes of compliance with ERISA or other applicable laws and regulation, (ii) ministerial changes that are necessary or appropriate to reduce complexity or minimize administrative expenses,
(iii) changes that do not increase or decrease the estimated benefit costs of the Plan by more than the greater of $500,000 per year and $5,000,000 in terms of present value subject to a limit of $25,000,000 (net) in terms of present value in any
12-month period, or (iv) changes to the eligibility provisions and the definition of eligible earnings under the Plan. 
  
 (c) The determination of estimated benefit costs for the changes described in subsection (b) above shall be based on advice provided by
the group underwriter, actuary, or contract administration personnel, as appropriate, based on current costs and shall not include administrative fees, incurred charge backs, professional fees, or other similar types of ministerial costs.

  
 (d) The VP Human Resources, or if so provided
pursuant to the VP Human Resources’ written delegation, the Vice President, Compensation (or successor to the human resource duties thereof) and/or Vice President,of Benefits (or successor to the human resource duties thereof) of Prudential, is
authorized and directed to: (i) determine whether any amendments to the Plan are necessary or appropriate in relation to any business acquisition or divestiture by an Affiliate (“Transaction”); (ii) determine whether the Plan should
receive assets, if any, and accept benefit liabilities pursuant to a termination, spin-off or merger of a plan that is intended to be similar in purpose to the Plan, and that is maintained by a member of the Controlled Group as a result of a
Transaction; and (iii) take any and all actions necessary or appropriate in 

  

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connection with any such determination, including, but not limited to, approving any such amendments and executing any such amendments on behalf of the
Company or another Employer. 
  
 (e) Except as
otherwise specifically provided in the foregoing provisions of this section, all amendments to the Plan, once authorized, may be executed by the VP Human Resources, or his or her delegate. 
  
 7.2 Effect of Termination. Upon termination of the Plan, distribution
of each Participant’s Account under the Plan shall be made to the Participant (or his or her Beneficiary) in the manner and at the time described in Article V of the Plan unless the resolution of the Compensation Committee of the Board of
Directors specifies another time and manner of distribution. No additional contributions shall be credited under the Plan, but interest shall continue to be credited hereunder until the full amount has been distributed to the Participant (or his or
her Beneficiary). 
  
 ARTICLE VIII. 
  
 GENERAL PROVISIONS

  
 8.1 Participant’s Rights Unsecured and Unfunded.
This Plan is an unfunded plan maintained primarily to provide deferred compensation for a select group of management or highly-compensated employees within the meaning of Sections 201, 301 and 401 of ERISA (and, to the degree applicable to benefits
credited under Prior Programs or the 2001 Plan, is an “excess benefit plan” as defined under ERISA Section 3(36) with respect to certain Participants electing to participate in the Plan prior to the Effective Date), and therefore, is
exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA. Accordingly, no assets of any Employer shall be segregated or earmarked to represent the liability for accrued benefits under the Plan. Amounts referenced in Participant Account
statements are only recordkeeping devices reflecting such liability for accrued benefits. The right of a Participant (or his or her Beneficiary) to receive a payment hereunder shall be an unsecured claim against the general assets of the Employers.
No Employer is required to set aside money or any other property to fund its obligations under the Plan, and all amounts that may be set aside by an Employer prior to the distribution of Account balances under the terms of the Plan remain the
property of the Employer. 
  
 Notwithstanding the foregoing,
nothing in this Section 8.1 shall preclude the Company, in its sole discretion, from establishing a “rabbi trust” or other accumulation vehicle in connection with the operation of this Plan, provided that no such action shall cause the
Plan to fail to be an unfunded plan designed to satisfy the requirements of ERISA Section 3(36) (to the degree applicable) or to primarily provide deferred compensation benefits for a select group of management or highly-compensated employees for
purposes within the meaning of Title I of ERISA without an express Plan amendment to that effect. 
  
 All payments under the Plan shall be made from the general funds of the Employer except to the extent they are paid or, at the Committee’s direction,
are payable from any trust or other accumulation vehicle established for that purpose. 
  
 8.2 No Guarantee of Benefits. Nothing contained in the Plan shall constitute a guaranty by an Employer or any other person or entity that the assets of the Company and other Employers will be sufficient to pay
any benefit hereunder. 
  
 8.3 No Enlargement of Employee
Rights. Participation in the Plan shall not be construed to constitute an express or implied contract between any person and any Employer (except for the benefits described under the terms of this Plan), and nothing contained herein shall give
to any such person the right to be retained in the employ of an Employer or to interfere with the management of an Employer’s business or, except as otherwise provided by law, to interfere with the right of an Employer to discharge any employee
at any time, nor shall it give an Employer the right to require any employee to remain in its employ, nor shall it interfere with the right of any employee to terminate his or her employment at any time. 
  

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 8.4 Non-Alienation and Unpaid Benefit Provisions. 
  
 (a) No interest of any person or entity in, or right to
receive a benefit or distribution under, the Plan shall be subject in any manner to sale, transfer, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind; nor may such interest or right to receive a distribution
be taken, either voluntarily or involuntarily, for the satisfaction of the debts of, or other obligations or claims against, such person or entity, including claims for alimony, support, separate maintenance (including a Qualified Domestic Relations
Order or QDRO) and claims in bankruptcy proceedings. 
  
 (b) If any person entitled to a benefit payment under the Plan cannot be located despite reasonable efforts by the Committee, the interest of such individual under the Plan shall be extinguished. However, such interest, without adjustment
for interest, gains or losses, shall be paid to such individual if a claim is later made by such individual for his or her benefits and determined by the Committee to be valid. 
  
 8.5 Applicable Law. The Plan shall be construed and administered under the laws of the State of New Jersey (other
than conflict of laws provisions), except to the extent that such laws are preempted by ERISA. 
  
 8.6 Taxes. To the extent required by law, amounts accrued under the Plan shall be subject to Federal social security and unemployment taxes during the year the services giving rise to such amounts were
performed (or, if later, when the amounts are both determinable and not subject to a substantial risk of forfeiture). The Company shall withhold from any payments made pursuant to the Plan such amounts as may be required by Federal, state or local,
or foreign law. To the extent amounts currently payable from the Plan are insufficient to satisfy required withholding, the Participant agrees to the deduction of such amounts from wages or other amounts due to the Participant from the Company or
another Employer, or to pay the necessary amount to the Company on demand. 
  
 8.7 Mistaken Payments. If the compensation, years of service, age, or any other relevant fact relating to any person is found to have been misstated, the Plan benefit payable by the Company to a Participant or
Beneficiary shall be the Plan benefit which would have been provided on the basis of the correct information. Any excess payments due to such misstatement, or due to any other mistake of fact or law, shall be refunded to the Company or, at the
Company’s discretion, withheld (or ordered withheld from any trust or other accumulation vehicle) from any further amounts otherwise payable under the Plan. Any shortfall will be paid as a lump sum as soon as is practicable following the
correction of the error. 
  
 8.8 Data. Each Participant or
Beneficiary shall furnish the Committee with all information necessary for the administration of the Plan (including, but not limited to, dates of birth and death and proofs of continued existence), and the Company shall not be liable for the
fulfillment of any Plan benefits in any way dependent upon such information unless and until the same shall have been received by the Committee in form satisfactory to it. 
  
 8.9 Usage of Terms and Headings. Words in the masculine gender shall include the feminine and the singular shall
include the plural, and vice versa, unless qualified by the context. Any headings are included for ease of reference only, and are not to be construed to alter the terms of the Plan. 
  
 IN WITNESS WHEREOF, the undersigned on behalf of the Company hereby amends, restates, and readopts the Prudential
Supplemental Employee Savings Plan, effective as of the Effective Date. 
  

			
	 Date:     March 31, 2004
	 	 /s/    SHARON TAYLOR

	 	 	Sharon Taylor, Senior Vice President, Corporate Human Resources

  

 9Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT, is made as of this fifth day of January, 2004 by and between BUCA, Inc., a Minnesota corporation (the “Company”) and
Steve Hickey (the “Employee”). 
  
 WHEREAS, the Company
desires to employ Employee to devote full time service to the business of the Company and Employee desires to be so employed. 
  
 NOW THEREFORE, IN CONSIDERATION of the premises and the terms and conditions hereinafter set forth, the parties hereto agree as follows: 
  
 1. Employment. Subject to the terms and conditions hereof, the
Company shall employ Employee and Employee agrees to be so employed in the capacity of Senior Vice President, Chief Marketing Officer for a term commencing the date hereof and ending on December 31, 2005. 
  
 2. Duties. Employee shall diligently and conscientiously devote his
full time and attention to the discharge of his duties as Senior Vice President, Chief Marketing Officer and such other positions as assigned by the Board of Directors. In such capacity, Employee shall at all times discharge said duties in
consultation with and under the supervision of the CEO or the Board of Directors of the Company. Employee shall perform such duties as may from time to time be given to him by the Chief Executive Officer or the Board of Directors. 
  
 3. Base Salary. Commencing at the effective date hereof, the Company
shall pay to Employee an annualized base salary of $200,000 in 2004. The Board of Directors shall establish Employee’s base salary for each subsequent calendar year. The base salary is payable in accordance with the Company’s standard
payroll practices as in effect from time to time. 
  
 4.
Bonuses. Employee shall be entitled to receive annual incentive compensation equal to a percentage of his annual base salary. For the year ended December 27, 2004, the maximum percentage of such incentive compensation shall be 50%. For each
subsequent calendar year, the maximum percentage shall be determined by the Board of Directors, but shall not be less than that established for the prior year. Payment of any incentive compensation shall be based upon the Company attaining certain
performance targets selected by the Board of Directors and based upon the budget for the applicable year. 
  
 5. Expenses. The Company shall reimburse Employee for all reasonable and necessary expenses incurred by him in carrying out his duties under this
Agreement. Employee shall present to the Company from time to time an itemized statement of account of such expenses in such form as may be required by the Company. In recognition of Employee’s need for an automobile for business purposes, the
Company will provide Employee with a $1,000 per month automobile allowance. 

 6. Fringe Benefits. Employee shall be entitled to participate in such fringe benefit programs
maintained by the Company as are available for other employees similarly situated. The Company shall (i) obtain and pay the premium for standard family coverage for Employee and his family in the Company’s group health plan; and (ii) provide
Employee with long-term disability insurance with a benefit equal to 60% of his base salary. 
  
 7. Termination. Employee’s employment hereunder shall be terminated upon the happening of any of the following events; 
  
 (a) Expiration of the term of this Agreement, without renewal; 
  
 (b) Death of Employee; 
  
 (c) Notice to Employee that his employment is terminated due to Employee’s inability to perform his usual and customary duties by reason of Physical
or Mental Disability; 
  
 (d) Without Cause by the Company at any
time upon thirty (30) days prior written notice to Employee; 
  
 (e) By Employee upon thirty (30) days prior written notice to the Company; 
  
 (f) By Employee, if, following a Change in Control of the Company as defined below, Employee’s duties (as in effect immediately prior to such Change in Control) are Substantially Reduced or Negatively Altered, as
defined below, without his prior written consent, upon thirty (30) days prior written notice to the Company; or 
  
 (g) At any time without notice by the Company for Cause. 
  
 For purposes of this Section, “Cause” means (i) Employee’s conviction of a felony which constitutes a crime involving moral
turpitude; (ii) Employee’s misappropriation of funds, fraud or embezzlement; (iii) Employee’s willful or gross and repeated neglect of duties hereunder, or willful or gross repeated misconduct in the performance of such duties, as
determined by a majority of the directors of the Company (collectively, “Misconduct”), and provided that Employee has been given at least fourteen (14) days prior notice of such determination and Employee has failed to cure such
Misconduct; or (iv) Misconduct that is deemed by a majority of the directors to have a material adverse effect on the business, operations, assets, properties, or financial condition of Company, taken as a whole. 
  
 For purposes of this Section, “Physical or Mental
Disability” means any ailment or incapacity which prevents Employee from performing the duties incident to Employee’s employment hereunder which continued for a period of either (i) 90 consecutive days in any twelve-month period or
(ii) 180 days in any twelve-month period, and which is expected to be of permanent duration. 
  

 2 

 For purposes of this Section, “Change in Control” with respect to the Company shall have
occurred on the earliest of the following dates: 
  
 (i) the date after the date of this Agreement that any entity or person (including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934 (the “Exchange Act”)) shall have become the beneficial
owner of, or shall have obtained voting control over, fifty percent (50%) of more of the outstanding common shares of the Company; 
  
 (ii) the date the shareholders of the Company approve a definitive agreement: (A) to merge or consolidate the Company with or into another
corporation, or to merge another corporation into the Company, in which the Company is not the continuing or surviving corporation or pursuant to which any common shares of the Company would be converted into cash, securities of another corporation,
or other property (this clause (A) shall not apply to a merger or consolidation of the Company in which, immediately following such merger or consolidation, more than 70% of both the combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of directors (the “Voting Securities”) and the then outstanding common stock is then beneficially owned, directly or indirectly, by all or substantially all of the persons who
beneficially owned the Voting Securities and the common stock immediately prior to such merger or consolidation in substantially the same proportions as their ownership of such Voting Securities and common stock, as the case may be, immediately
prior to such merger or consolidation); or (B) to sell or otherwise dispose of substantially all of the assets of the Company; or 
  
 (iii) the date there shall have been a change in a majority of the Board of Directors of the Company within a twelve-month period unless
the nomination for election by the Company’s shareholders of each new director was approved by the vote of two-thirds of the directors then still in office who were in office at the beginning of the twelve-month period. 
  
 “Substantially Reduced or Negatively Altered” means, without Employee’s
express written consent: 
  
 (i) the assignment
to Employee of any duties inconsistent with Employee’s positions, duties, responsibilities and status with the Company immediately prior to a Change in Control or a change in Employee’s reporting responsibilities, titles or offices, or any
removal of Employee from, or any failure to re-elect Employee to, any of such positions, except in connection with the termination of Employee’s employment for Cause, upon the Physical or Mental Disability or death of Employee, or upon the
voluntary termination by Employee; 
  

 3 

 (ii) a reduction in Employee’s Base Salary below the minimum Base Salary in Section
3 hereof; 
  
 (iii) requiring Employee to move
his residence more than 100 miles; 
  
 (iv) the
failure by Company to continue in effect benefit plans substantially equivalent to the benefit plans in effect at the effective date of this Agreement or established during the term of this Agreement; the taking of any action by Company not required
by law which would adversely affect Employee’s participation in or materially reduce Employee’s benefits under any of such plans or deprive Employee of any material fringe benefit enjoyed by Employee; or the failure by Company to provide
Employee with the number of paid vacation days, holidays and personal days to which Employee was then entitled in accordance with Company’ normal leave policy in effect the effective date of this Agreement; or 
  
 (v) failure of any successor to the Company not otherwise
bound by this Agreement to expressly assume and agree to perform the obligations of the Company under this Agreement. 
  
 8. Effect of Termination. If Employee is terminated by the Company for Cause as defined in Section 7(g) or if Employee terminates employment under
Section 7(e), Employee shall be paid only to the date of actual termination of employment and Employee shall not be entitled to any additional compensation for the year in which termination of employment occurs or any other termination payment.

  
 If Employee is terminated by reason of death or Physical or
Mental Disability, Employee or his estate shall be entitled to a termination payment equal to twelve (12) month’s base salary then in effect. The termination payment in the case of termination due to Physical or Mental Disability shall be made
in twelve (12) substantially equal monthly installments, beginning on the first day of the month following termination of employment, and the termination payment shall be reduced by all disability insurance payments received by Employee during such
period under disability insurance policies provided by the Company under Section 6 hereof. 
  
 If Employee terminates employment for the reason specified in Section 7(f) or Employee is terminated by the Company without Cause following a Change in Control, or within one hundred eighty (180) days prior to a
Change in Control and such termination is related to the Change in Control, Employee shall be entitled to a termination payment equal to twelve (12) month’s base salary then in effect, payable in twelve (12) equal installments, beginning on the
first day of the month following termination of employment and the Company shall continue Employee’s health benefits for one (1) year or, at its option, pay Employee’s COBRA coverage premiums during the COBRA period. If Employee

  

 4 

 terminates employment as a result of a Change in Control but Employee’s duties have not been Substantially Reduced
or Negatively Altered, Employee shall be entitled to a termination payment equal to twelve (12) month’s base salary then in effect, payable in twelve (12) equal installments beginning the first day of the month following termination of
employment. 
  
 If Employee is terminated by the Company without
Cause and other than associated with a Change in Control as outlined above, Employee shall be entitled to a termination payment equal to six (6) month’s base salary then in effect, payable in six (6) equal installments beginning on the first
day of the month following termination of employment. 
  
 9.
Excise Tax. Unless otherwise prohibited by applicable law, if an amount paid to Employee under this Agreement is subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, or any successor provision thereto, the Company
shall pay to Employee an additional amount in cash equal to the amount necessary to cause the aggregate remuneration received by Employee under this Agreement, including such additional cash payment (net of all federal, state, and local income taxes
and all taxes payable as a result of the application of Section 280G and 4999 of the Internal Revenue Code or any successor provisions thereto) to be equal to the aggregate remuneration executive would have received, excluding such additional
payment (net of all federal, state, and local income taxes), if Section 280G and 4999 (and any successors thereto) have not been enacted into law. The adjustments, if any, required by this Section shall be determined by tax counsel selected by
Company’s independent accountants with Employee’s approval. 
  
 10. Confidentiality. “Confidential Information” means any information or compilation of information possessed by the Company that derives independent economic value, actual or potential, from not being generally
known to, and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use, including by not limited to: (a) any information not generally known in the industry of the Company regarding
the Company’s pricing of services, research, development, marketing, servicing, business systems, and techniques; (b) financial information concerning the Company; and (c) any information that the Company may from time to time designate as
“confidential,” “proprietary,” or “trade secrets” which is not generally known in the industry of the Company. 
  
 Employee may have access to Confidential Information which the Company desires to protect at all times. Employee understands, acknowledges, and agrees
that the Company has expended substantial sums of money, time and effort in developing such Confidential Information and the Company will be substantially harmed in the competitive marketplace if the Confidential Information is used to its detriment
or to the benefit of others. 
  
 In recognition of the foregoing,
Employee agrees that: 
  
 (a) Employee will not,
during or after employment with the Company, directly or indirectly knowingly use or disclose any Confidential Information to any other person, firm or company, or in any way use for his 
  

 5 

 benefit, or to the detriment of the Company, any information or knowledge obtained during the course of
his employment with the Company, except as required in the conduct of the Company’s business or as authorized in writing by the Company; and 
  
 (b) All memoranda, notes, records, papers and other documents and all copies thereof relating to the Company’s operations and all
objects related thereto are and remain the property of the Company; including, but not limited to, those developed, investigated, or considered by the Company. Employee will not copy or duplicate any of the aforementioned documents or objects nor
use any information contained therewith, except for the Company’s benefit, either during or after his employment. 
  
 11. Covenant Not to Compete. The parties agree that the Company would be substantially harmed if Employee competes with the Company during
employment with the Company or after termination of employment with the Company. Therefore, in exchange for the benefits provided to Employee hereunder, Employee agrees that during his employment with the Company and for a period of six months after
termination of such employment for any reason, Employee will not directly or indirectly, without the written consent of the Company; 
  
 (a) Own, operate or render services to any entity engaged, directly or indirectly, in owning or operating Italian restaurants within fifty
(50) miles of any restaurant owned or managed by the Company; or 
  
 (b) Hire, offer to hire, entice away, or in any other way, persuade or attempt to persuade any entity or any employee, officer, agent, independent contractor, supplier, customer, or subcontractor of the Company to
discontinue their relationship with the Company. 
  
 12.
Disparagement. The Company and Employee agree that during and after the term of this Agreement, they will not knowingly vilify, disparage, slander or defame the other party or, in the case of the Company, its officers, directors, employees,
business or business practices. 
  
 13. Remedy. Employee
and the Company acknowledge that in the event of a breach of this Agreement by either party, money damages would be inadequate and the non-breaching party would have no adequate remedy at law. Accordingly, in the event of any controversy concerning
the rights or obligations under this Agreement, such rights or obligations shall be enforceable in a court of equity by a decree of specific performance. Such remedy, however, shall be cumulative and nonexclusive and shall be in addition to any
other remedy to which the parties may be entitled to by law. 
  

 6 

 14. Notices. All notices required or permitted to be given under this Agreement shall be given by
certified mail, return receipt requested, to the parties at the following addresses or to such other addresses as either may designate in writing to the other party: 
  

			
	 If to Company:
	  	 BUCA, INC.

	 	  	 1300 Nicollet Avenue

	 	  	 Suite 5003

	 	  	 Minneapolis, MN 55403

		
	 If to Employee:
	  	 Steve Hickey

  
 15. Governing
Law. This Agreement shall be construed and enforced in accordance with the internal laws of the State of Minnesota. 
  
 16. Entire Contract. This Agreement constitutes the entire understanding and agreement between the Company and Employee with regard to the matters
stated herein. There are no other agreements, conditions or representations, oral or written, express or implied, with regard to the employment of Employee by the Company. This Agreement may be amended only in writing, signed by both parties hereto.

  
 17. Binding Effect. This Agreement shall inure to the
benefit of and be binding upon the Company, its successors and assigns, and shall inure to the benefit of and be binding upon Employee, his heirs, distributees and personal representatives. In the event of Employee’s death, any amounts payable
hereunder shall be paid in accordance with the terms of this Agreement to Employee’s designee, or if there is no such designee, to Employee’s estate. 
  

 7 

 IN WITNESS WHEREOF, the parties have executed this Agreement the date and year first above written.

  

			
	 BUCA, INC.

		
	 By:
	 	 /s/ Greg A. Gadel

	 	 	 Its:   Executive Vice President and
          Chief Financial Officer

	
	 /s/ Steve Hickey

	 Steve Hickey

  

 8

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