Document:

Amendment to Carrols Holdings Corporation... Tropical Long-Term Incentive Plan

 Exhibit 10.1 
  
 AMENDMENT TO THE 
 CARROLS HOLDINGS CORPORATION 
 1998 POLLO TROPICAL LONG-TERM INCENTIVE PLAN 
  
  
 WHEREAS, Carrols Holdings Corporation (the “Company”) previously established, and currently maintains, the Carrols Holdings Corporation 1998 Pollo Tropical Long-Term Incentive Plan (the “Plan”); 
  
 WHEREAS, for purposes of the Plan and the awards to be granted thereunder,
the Company previously instituted a separate series of common stock designed to track the performance of the Pollo Tropical business (the “Pollo Tropical Stock”); 
  
 WHEREAS, effective as of October 27, 2004 (the “Effective Date”) in order to reflect the current more integrated
method of operating its business, the Company decided to eliminate the Pollo Tropical Stock, and reclassify all current series of the Company’s common stock, including, but not limited to, the Pollo Tropical Stock, into one series of common
stock, referred to as the “Common Stock”; 
  
 WHEREAS,
pursuant to Section 14 of the Plan, the Committee (as such term is defined in the Plan) may amend the Plan and any awards granted thereunder, subject to the limitations set forth therein; 
  
 WHEREAS, pursuant to Section 11 of the Plan, appropriate adjustments may be made to the Plan and any awards granted
thereunder to reflect the reclassification of the Company’s common stock described above; 
  
 WHEREAS, the Committee desires to amend the Plan to reflect the reclassification of the Company’s common stock described above; 
  
 NOW, THEREFORE, the Plan hereby is amended as follows: 
  
  
 I. 
  
 Effective as of the Effective Date, the definition of “Carrols
Stock” is amended in its entirety to read as follows: 
  
 “Carrols Stock” means the common stock, par value $.01 per share, of the Company. 
  
  
 II. 
  
 Effective as of the Effective Date, the definitions of “Pollo Tropical Group” and “Sale of the Pollo Tropical
Group” and any and all references to any of such defined terms in the Plan are deleted in their entirety. 
  

 III. 
  
 Effective as of the Effective Date, the definition of “Stock” or “Share” is amended in its entirety to read as follows: 
  
 “Stock” or “Share” means Carrols Stock, which may be
authorized but unissued or issued and reacquired. 
  
 IV.

  
 Section 9 of the Plan is amended by adding the following
immediately after its title: 
  
 “The provisions of this
Section 9 shall cease to apply as of October 27, 2004 (or such other date as shall be selected by the Company, in its discretion, to effectuate the reclassification of all current series of the Company’s common stock, including, but not limited
to, the Pollo Tropical Stock, into one series of common stock) (the “Conversion Date”); provided, however, that notwithstanding anything to the contrary in the Plan or any other document governing the Stock Options, the reclassification of
the Stock Options outstanding as of the Conversion Date as options to purchase shares of the Company’s new combined common stock, which shall occur in connection with the combination of all current series of the Company’s common stock,
shall constitute a Triggering Event (as defined in Section 9(d)) for purposes hereof.” 
  
 V. 
  
 In all other respects, the
Plan shall remain in full force and effect. 
  
  

			
	CARROLS HOLDINGS CORPORATION
		
	By:	 	 /S/ JOSEPH ZIRKMAN

	Title:	 	 Vice-PresidentAmendment to Carrols Holdings Corporation...Taco Cabana Long-Term Incentive Plan

 Exhibit 10.2 
  
 AMENDMENT TO THE 
 CARROLS HOLDINGS CORPORATION 
 2001 TACO CABANA LONG-TERM INCENTIVE PLAN 
  
 WHEREAS, Carrols Holdings Corporation (the “Company”) previously
established, and currently maintains, the Carrols Holdings Corporation 2001 Taco Cabana Long-Term Incentive Plan (the “Plan”); 
  
 WHEREAS, for purposes of the Plan and the awards to be granted thereunder, the Company previously instituted a separate series of common stock designed to
track the performance of the Taco Cabana business (the “Taco Cabana Stock”); 
  
 WHEREAS, effective as of October 27, 2004 (the “Effective Date”) in order to reflect the current more integrated method of operating its business, the Company decided to eliminate the Taco Cabana Stock, and
reclassify all current series of the Company’s common stock, including, but not limited to, the Taco Cabana Stock, into one series of common stock, referred to as the “Common Stock”; 
  
 WHEREAS, pursuant to Section 14 of the Plan, the Committee (as such term is
defined in the Plan) may amend the Plan and any awards granted thereunder, subject to the limitations set forth therein; 
  
 WHEREAS, pursuant to Section 11 of the Plan, appropriate adjustments may be made to the Plan and any awards granted thereunder to reflect the
reclassification of the Company’s common stock described above; 
  
 WHEREAS, the Committee desires to amend the Plan to reflect the reclassification of the Company’s common stock described above; 
  
 NOW, THEREFORE, the Plan hereby is amended as follows: 
  
  
 I. 
  
 Effective as of the Effective Date, the definition of “Carrols Stock” is amended in its entirety to read as
follows: 
  
 “Carrols Stock” means the
common stock, par value $.01 per share, of the Company. 
  
  
 II. 
  
 Effective as of the Effective Date, the definitions of “Taco Cabana Group” and “Sale of the Taco Cabana Group” and any and all
references to any of such defined terms in the Plan are deleted in their entirety. 
  

 III. 
  
 Effective as of the Effective Date, the definition of “Stock” or “Share” is amended in its entirety to read as follows: 
  
 “Stock” or “Share” means Carrols Stock, which may be
authorized but unissued or issued and reacquired. 
  
 IV.

  
 Section 9 of the Plan is amended by adding the following
immediately after its title: 
  
 “The provisions of this
Section 9 shall cease to apply as of October 27, 2004 (or such other date as shall be selected by the Company, in its discretion, to effectuate the reclassification of all current series of the Company’s common stock, including, but not limited
to, the Taco Cabana Stock, into one series of common stock) (the “Conversion Date”); provided, however, that notwithstanding anything to the contrary in the Plan or any other document governing the Stock Options, the reclassification of
the Stock Options outstanding as of the Conversion Date as options to purchase shares of the Company’s new combined common stock, which shall occur in connection with the combination of all current series of the Company’s common stock,
shall entitle the Participants to receive any and all benefits, if any, relating to the crediting of dividends or dividend equivalents to such Participants’ accounts under this Section 9.” 
  
 V. 
  
 In all other respects, the Plan shall remain in full force and effect. 
  
  

			
	CARROLS HOLDINGS CORPORATION
		
	By:	 	 /S/ JOSEPH ZIRKMAN

	Title:	 	 Vice-PresidentSecond Amendment to Loan and Security Agreement

 Exhibit 10.53 
  
 SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT 
  
 This SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT (“Amendment”) is dated September 30, 2004, by and between
RESORTS INTERNATIONAL HOTEL, INC., a New Jersey corporation (“Borrower”), and COMMERCE BANK, N.A., a national banking association
(“Lender”). 
  
 BACKGROUND 
  
 A. Pursuant to the terms of a certain Loan and Security Agreement dated
November 4, 2002, by and between Borrower and Lender (as the same has been or may be supplemented, restated, superseded, amended or replaced from time to time, the “Loan Agreement”), Lender made available to Borrower a revolving line of
credit in the maximum amount of Ten Million Dollars ($10,000,000) (the “Revolving Credit”). All capitalized terms used herein without further definition shall have the respective meaning set forth in the Loan Agreement and all other Loan
Documents. 
  
 B. The Obligations are secured by continuing
perfected security interests in the Collateral. 
  
 C. Borrower
has requested that Lender modify, in certain respects, the terms of the Loan Agreement and Lender has agreed to such modifications in accordance with and subject to the satisfaction of the conditions hereof. 
  
 NOW, THEREFORE, with the foregoing Background incorporated by reference and
intending to be legally bound hereby, the parties agree as follows: 
  
 1. Amendments to Loan Agreement. Upon the effectiveness of this Amendment, Section 6.8(b) of the Loan Agreement shall be deleted and replaced as follows: 
  
 (b) Interest Coverage Ratio – Resorts shall maintain an Interest Coverage Ratio of not less than 1.5 to 1.0
measured quarterly as of each quarter end commencing September 30, 2004, on a rolling four (4) quarter basis. 
  
 2. Representations and Warranties. Borrower warrants and represents to Lender that no Default or Event of Default exists and no Default or Event of
Default will occur after giving effect to this Amendment. 
  
 3.
Ratification of Loan Documents. This Amendment is hereby incorporated into and made a part of the Loan Agreement and all other Loan Documents respectively, the terms and provisions of which, except to the extent modified by this Amendment are
each ratified and confirmed and continue unchanged in full force and effect. Any reference to the Loan Agreement and all other Loan Documents respectively in this or any other instrument, document or agreement related thereto or executed in
connection therewith shall mean the Loan Agreement and all other Loan Documents respectively as amended by this Amendment. As security for the payment of the Obligations, and satisfaction by Borrower of all covenants and undertakings contained in
the Loan Agreement, Borrower hereby confirms its prior grant to Lender of a continuing first lien on and security interest in, upon and to all of Borrower’s now owned or hereafter acquired, created or arising Collateral as described in Section
3 of the Loan Agreement. 

 4. Confirmation of Surety. By their execution below, each Surety hereby consents to, and
acknowledges the terms and conditions of this Amendment, and agrees that its Surety Agreement dated November 4, 2002, is ratified and confirmed, and shall continue in full force and effect, and shall continue to cover all obligations of Borrower
outstanding from time to time, under the Loan Agreement as amended hereby. 
  
 5. Effectiveness Conditions. This Amendment shall become effective upon the following: 
  

	 	a.	Execution and delivery by Borrower of this Amendment to Lender; and 

  

	 	b.	Payment by Borrower of all of Lender’s Expenses. 

  
 6. Governing Law. THIS AMENDMENT, AND ALL RELATED AGREEMENTS AND DOCUMENTS, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE
LAWS OF NEW JERSEY. THE PROVISIONS OF THIS AMENDMENT AND ALL OTHER AGREEMENTS AND DOCUMENTS REFERRED TO HEREIN ARE TO BE DEEMED SEVERABLE, AND THE INVALIDITY OR UNENFORCEABILITY OF ANY PROVISION SHALL NOT AFFECT OR IMPAIR THE REMAINING PROVISIONS
WHICH SHALL CONTINUE IN FULL FORCE AND EFFECT. 
  
 7.
Modification. No modification hereof or any agreement referred to herein shall be binding or enforceable unless in writing and signed by Borrower and Lender. 
  
 8. Duplicate Originals: Two or more duplicate originals of this Amendment may be signed by the parties, each of which
shall be an original but all of which together shall constitute one and the same instrument. 
  
 9. Waiver of Jury Trial: BORROWER AND LENDER EACH HEREBY WAIVE ANY AND ALL RIGHTS IT MAY HAVE TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION, PROCEEDING OR COUNTERCLAIM ARISING WITH RESPECT TO RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO OR UNDER THE LOAN DOCUMENTS OR WITH RESPECT TO ANY CLAIMS ARISING OUT OF ANY DISCUSSIONS, NEGOTIATIONS OR COMMUNICATIONS INVOLVING OR RELATED TO ANY PROPOSED RENEWAL, EXTENSION, AMENDMENT, MODIFICATION, RESTRUCTURE,
FORBEARANCE, WORKOUT, OR ENFORCEMENT OF THE TRANSACTIONS CONTEMPLATED BY THE LOAN DOCUMENTS. 
  
 [SIGNATURES TO FOLLOW ON SEPARATE PAGE] 

 IN WITNESS WHEREOF, the undersigned parties have executed this Amendment the day and year first above
written. 
  

			
	 BORROWER:
 RESORTS
INTERNATIONAL HOTEL, INC.

		
	 By:
	 	 /s/ Audrey S. Oswell

	 Name:
	 	Audrey S. Oswell
	 Title:
	 	President and Chief Executive Officer
	
	LENDER:
	COMMERCE BANK, N.A.
		
	 By:
	 	 /s/ Peter L. Davis

	 	 	Peter L. Davis, Senior Vice President
	
	 SURETIES:
 RESORTS
INTERNATIONAL HOTEL & CASINO, INC.

		
	 By:
	 	 /s/ Audrey S. Oswell

	 Name:
	 	Audrey S. Oswell
	 Title:
	 	President and Chief Executive Officer
	
	COLONY RIH HOLDINGS, INC.
		
	 By:
	 	 /s/ Audrey S. Oswell

	 Name:
	 	Audrey S. Oswell
	 Title:
	 	President and Chief Executive Officer
	
	NEW PIER OPERATING COMPANY, INC.
		
	 By:
	 	 /s/ Audrey S. Oswell

	 Name:
	 	Audrey S. Oswell
	 Title:
	 	President and Chief Executive Officer

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