Document:

EX10_1

		

			Exhibit 10.1

		

		

			 

		

		
			PARTIAL TERMINATION OF AND THIRTEENTH AMENDMENT TO
AMENDED AND RESTATED MASTER LEASE AGREEMENT
(LEASE NO. 1)
		

		
			THIS PARTIAL TERMINATION OF AND THIRTEENTH AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (LEASE NO. 1) (this “Amendment”) is made and entered into as of February 17, 2015 by and among each of the parties identified on the signature pages hereof as a landlord (collectively, “Landlord”) and each of the parties identified on the signature pages hereof as a tenant  (jointly and severally, “Tenant”).
		

		
			W I T N E S S E T H:
		

		
			WHEREAS, pursuant to the terms of that certain Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 4, 2009, as amended by that certain Partial Termination of and First Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 1, 2009, that certain Second Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of November 17, 2009, that certain Third Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of December 10, 2009, that certain Partial Termination of and Fourth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 1, 2010, that certain Fifth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of May 1, 2011,  that certain Partial Termination of and Sixth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of June 1, 2011, that certain Seventh Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of June 20, 2011,  that certain Eighth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 31, 2012, that certain Partial Termination of and Ninth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of August 1, 2013, that certain Partial Termination of and Tenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of January 22, 2014, that certain Partial Termination of and Eleventh Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 1, 2014,  and that certain Partial Termination of and Twelfth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1), dated as of October 31, 2014 (as so amended, “Amended Lease No. 1”),  Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Property (this and other capitalized terms used but not otherwise defined herein having the meanings given such terms in Amended Lease No. 1), all as more particularly described in Amended Lease No. 1; and
		

		
			WHEREAS, simultaneously herewith, SNH/LTA Properties Trust is selling a portion of the Leased Property consisting of the real property and related improvements formerly known as Ridgepointe Assisted Living and located at 5301 Brownsville Road, Pittsburgh, Pennsylvania, as more particularly described on Exhibit A-40 to Amended Lease No. 1 (the “Ridgepointe Property”); and
		

		
			WHEREAS, in connection with the foregoing,  SNH/LTA Properties Trust and the other entities comprising Landlord and Five Star Quality Care Trust and the other entities comprising Tenant wish to amend Amended Lease No. 1 to terminate Amended Lease No. 1 with respect to the Ridgepointe Property;
		

		
			NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree that, effective as of the date hereof, Amended Lease No. 1 is hereby amended as follows:
		

		

		

		 

 

		1.Partial Termination of Amended Lease No. 1.  Amended Lease No. 1 is terminated with respect to the Ridgepointe Property and neither Landlord nor Tenant shall have any further rights or liabilities thereunder with respect to the Ridgepointe Property from and after the date hereof, except for those rights and liabilities which by their terms survive the termination of Amended Lease No. 1.
		

		
			2.Definition of Minimum Rent.  The defined term “Minimum Rent” set forth in Section 1.68 of Amended Lease No. 1 is deleted in its entirety and replaced with the following:
		

		
			“Minimum Rent”  shall mean the sum of Fifty-Eight Million Four Hundred Fifty-Two Thousand Two Hundred Forty-Seven and 26/100 Dollars ($58,452,247.26) per annum.
		

		
			3.Schedule 1.  Schedule 1 to Amended Lease No. 1 is deleted in its entirety and replaced with Schedule 1 attached hereto.
		

		
			4.Exhibit A.  Exhibit A to Amended Lease No. 1 is amended by deleting the text of Exhibit A-40 attached thereto in their entirety and replacing it with “Intentionally Deleted”.
		

		
			5.Ratification.  As amended hereby, Amended Lease No. 1 is hereby ratified and confirmed.
		

		
			 
		

		
			[Remainder of page intentionally left blank; signature pages follow]
		

		
			 
		

		
			 
		

		

		

		 

 

		

			 

		

		IN WITNESS WHEREOF, the parties have executed this Amendment as a sealed instrument as of the date above first written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						LANDLORD:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						SNH SOMERFORD PROPERTIES TRUST

				
	
					
						 

					
					
						SPTMNR PROPERTIES TRUST

				
	
					
						 

					
					
						SNH/LTA PROPERTIES TRUST

				
	
					
						 

					
					
						SPTIHS PROPERTIES TRUST

				
	
					
						 

					
					
						SNH CHS PROPERTIES TRUST

				
	
					
						 

					
					
						SNH/LTA PROPERTIES GA LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ David J. Hegarty

				
	
					
						 

					
					
						 

					
					
						David J. Hegarty

				
	
					
						 

					
					
						 

					
					
						President of each of the foregoing entities

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						MSD – MACON, LLC

				
	
					
						 

					
					
						MSD – BEAUFORT, LLC 

				
	
					
						 

					
					
						MSD – CAMDEN, LLC

				
	
					
						 

					
					
						MSD – HARTSVILLE, LLC

				
	
					
						 

					
					
						MSD – LEXINGTON, LLC

				
	
					
						 

					
					
						MSD – ORANGEBURG, LLC

				
	
					
						 

					
					
						MSD – SENECA, LLC

				
	
					
						 

					
					
						MSD – CULLMAN, LLC

				
	
					
						 

					
					
						MSD – MADISON, LLC

				
	
					
						 

					
					
						MSD – SHEFFIELD, LLC

				
	
					
						 

					
					
						MSD – BOWLING GREEN, LLC

				
	
					
						 

					
					
						MSD – PADUCAH, LLC

				
	
					
						 

					
					
						MSD – CONYERS, LLC

				
	
					
						 

					
					
						MSD – GAINESVILLE, LLC

				
	
					
						 

					
					
						MSD – CLEVELAND, LLC

				
	
					
						 

					
					
						MSD – COOKEVILLE, LLC

				
	
					
						 

					
					
						MSD – JACKSON, LLC

				
	
					
						 

					
					
						MSD – KNOXVILLE, LLC 

				
	
					
						 

					
					
						MSD – FRANKLIN, LLC

				
	
					
						 

					
					
						MSD – HOPKINSVILLE, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ David J. Hegarty

				
	
					
						 

					
					
						 

					
					
						David J. Hegarty

				
	
					
						 

					
					
						 

					
					
						President of each of the foregoing entities

				

		
			 
		

		

		

		 

		

			[Signature Page: Partial Termination of and Thirteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

		

 

		

			 

		

		 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						TENANT:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						FIVE STAR QUALITY CARE TRUST

				
	
					
						 

					
					
						MORNINGSIDE OF KNOXVILLE, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF FRANKLIN, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						President of each of the foregoing entities

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF MACON, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF SENECA, L.P.

				
	
					
						 

					
					
						MORNINGSIDE OF HOPKINSVILLE, LIMITED PARTNERSHIP

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						LIFETRUST AMERICA, INC., 

				
	
					
						 

					
					
						 

					
					
						a Tennessee corporation, its General
Partner/Member (as applicable)

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF BEAUFORT, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF CAMDEN, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF HARTSVILLE, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF LEXINGTON, LLC

				
	
					
						 

					
					
						MORNINGSIDE OF ORANGEBURG, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						MORNINGSIDE OF SOUTH CAROLINA, L.P.,
a Delaware limited partnership, its Sole Member

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						LIFETRUST AMERICA, INC., 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Tennessee corporation, its General Partner

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				

		
			 
		

		

		

		 

		

			[Signature Page: Partial Termination of and Thirteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

		

 

		

			 

		

		 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF CULLMAN, LLC

					
						MORNINGSIDE OF MADISON, LLC

					
						MORNINGSIDE OF SHEFFIELD, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						MORNINGSIDE OF ALABAMA, L.P.,
a Delaware limited partnership, its Sole Member

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						LIFETRUST AMERICA, INC., 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Tennessee corporation, its General Partner

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF BOWLING GREEN, LLC
MORNINGSIDE OF PADUCAH, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						MORNINGSIDE OF KENTUCKY,
LIMITED PARTNERSHIP, a Delaware limited
partnership, its Sole Member

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						LIFETRUST AMERICA, INC.,

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Tennessee corporation, its General Partner

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			[Signature Page: Partial Termination of and Thirteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

		

 

		

			 

		

		 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF CONYERS, LLC
MORNINGSIDE OF GAINESVILLE, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						MORNINGSIDE OF GEORGIA, L.P.,
a Delaware limited partnership, its Sole Member

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						LIFETRUST AMERICA, INC., 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Tennessee corporation, its General Partner

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						MORNINGSIDE OF CLEVELAND, LLC
MORNINGSIDE OF COOKEVILLE, LLC

					
						MORNINGSIDE OF JACKSON, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						MORNINGSIDE OF TENNESSEE, LLC,
a Delaware limited liability company, its Sole Member

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Bruce J. Mackey Jr.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						President and Chief Executive Officer

				

		
			 
		

		
			 
		

		

		

		 

		

			[Signature Page: Partial Termination of and Thirteenth Amendment to Amended and Restated Master Lease Agreement (Lease No. 1)]

		

 

		

			 

		

		SCHEDULE 1
		

		
			 
		

		
			PROPERTY-SPECIFIC INFORMATION
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
						Exhibit

					
					
						
Property Address

					
					
						Base Gross Revenues

					
						(Calendar Year)

					
					
						Base Gross Revenues

					
						(Dollar Amount)

					
					
						Commencement
Date

					
					
						Interest Rate

				
	
					
						A-1

					
					
						Intentionally Deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-2

					
					
						Intentionally Deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-3

					
					
						Somerford Place - Encinitas

					
						1350 South El Camino Real

					
						Encinitas, CA  92024

					
					
						2009

					
					
						$3,092,467

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-4

					
					
						Somerford Place - Fresno

					
						6075 North Marks Avenue

					
						Fresno, CA  93711

					
					
						2009

					
					
						$3,424,896

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-5

					
					
						Lancaster Healthcare Center

					
						1642 West Avenue J

					
						Lancaster, CA  93534

					
					
						2005

					
					
						$6,698,648

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-6

					
					
						Somerford Place – Redlands

					
						1319 Brookside Avenue

					
						Redlands, CA  92373 

					
					
						2009

					
					
						$3,065,084

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-7

					
					
						Somerford Place - Roseville

					
						110 Sterling Court

					
						Roseville, CA  95661

					
					
						2009

					
					
						$2,802,082

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-8

					
					
						Leisure Pointe

					
						1371 Parkside Drive

					
						San Bernardino, CA  92404

					
					
						2007

					
					
						$1,936,220

					
					
						09/01/2006

					
					
						8.25%

				
	
					
						A-9

					
					
						Van Nuys Health Care Center

					
						6835 Hazeltine Street

					
						Van Nuys, CA  91405

					
					
						2005

					
					
						$3,626,353

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-10

					
					
						Mantey Heights 
Rehabilitation & Care Center

					
						2825 Patterson Road

					
						Grand Junction, CO  81506

					
					
						2005

					
					
						$5,564,949

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-11

					
					
						Cherrelyn Healthcare Center

					
						5555 South Elati Street

					
						Littleton, CO  80120

					
					
						2005

					
					
						$12,574,200

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-12

					
					
						Somerford House and Somerford Place – Newark I & II

					
						501 South Harmony Road and

					
						4175 Ogletown Road

					
						Newark, DE  19713

					
					
						2009

					
					
						$6,341,636

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-13

					
					
						Tuscany Villa Of Naples 
(aka Buena Vida)

					
						8901 Tamiami Trail East 

					
						Naples, FL  34113

					
					
						2008

					
					
						$2,157,675

					
					
						09/01/2006

					
					
						8.25%

				

		 

		

			 

		

 

			
					
						A-14

					
					
						Intentionally Deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-15

					
					
						Morningside of Columbus

					
						7100 South Stadium Drive

					
						Columbus, GA  31909

					
					
						2006

					
					
						$1,381,462

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-16

					
					
						Morningside of Dalton 

					
						2470 Dug Gap Road

					
						Dalton, GA  30720

					
					
						2006

					
					
						$1,196,357

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-17

					
					
						Morningside of Evans

					
						353 North Belair Road

					
						Evans, GA  30809

					
					
						2006

					
					
						$1,433,421

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-18

					
					
						Vacant Land Adjacent to Morningside of Macon

					
						6191 Peake Road

					
						Macon, GA  31220

					
					
						2006

					
					
						N/A

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-19

					
					
						Intentionally Deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-20

					
					
						Union Park Health Services

					
						2401 East 8th Street

					
						Des Moines, IA  50316

					
					
						2005

					
					
						$4,404,678

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-21

					
					
						Park Place

					
						114 East Green Street

					
						Glenwood, IA  51534

					
					
						2005

					
					
						$8,109,512

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-22

					
					
						Prairie Ridge Care & Rehabilitation

					
						608 Prairie Street

					
						Mediapolis, IA  52637

					
					
						2005

					
					
						$3,234,505

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-23

					
					
						Ashwood Place

					
						102 Leonardwood

					
						Frankfort, KY  40601

					
					
						2007

					
					
						$1,769,726

					
					
						09/01/2006

					
					
						8.25%

				
	
					
						A-24

					
					
						Somerford Place - Annapolis

					
						2717 Riva Road

					
						Annapolis, MD  21401

					
					
						2009

					
					
						$3,917,902

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-25

					
					
						Somerford Place - Columbia

					
						8220 Snowden River Parkway

					
						Columbia, MD  21045

					
					
						2009

					
					
						$3,221,426

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-26

					
					
						Somerford Place - Frederick

					
						2100 Whittier Drive

					
						Frederick, MD  21702

					
					
						2009

					
					
						$5,088,592

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-27

					
					
						Somerford Place - Hagerstown

					
						10114 & 10116 Sharpsburg Pike

					
						Hagerstown, MD  21740

					
					
						2009

					
					
						$4,066,761

					
					
						03/31/2008

					
					
						8%

				
	
					
						A-28

					
					
						The Wellstead of Rogers 

					
						20500 and 20600 

					
						South Diamond Lake Road

					
						Rogers, MN  55374

					
					
						2009

					
					
						$12,646,616

					
					
						03/01/2008

					
					
						8%

				

		 

 

			
					
						A-29

					
					
						Intentionally Deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-30

					
					
						Hermitage Gardens of Oxford

					
						1488 Belk Boulevard

					
						Oxford, MS  38655

					
					
						2007

					
					
						$1,816,315

					
					
						10/01/2006

					
					
						8.25%

				
	
					
						A-31

					
					
						Hermitage Gardens of Southaven

					
						108 Clarington Drive

					
						Southaven, MS  38671

					
					
						2007

					
					
						$1,527,068

					
					
						10/01/2006

					
					
						8.25%

				
	
					
						A-32

					
					
						Ashland Care Center

					
						1700 Furnace Street

					
						Ashland, NE  68003

					
					
						2005

					
					
						$4,513,891

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-33

					
					
						Blue Hill Care Center

					
						414 North Wilson Street

					
						Blue Hill, NE  68930

					
					
						2005

					
					
						$2,284,065

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-34

					
					
						Central City Care Center

					
						2720 South 17th Avenue

					
						Central City, NE  68462

					
					
						2005

					
					
						$2,005,732

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-35

					
					
						Intentionally deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-36

					
					
						Gretna Community Living Center

					
						700 South Highway 6

					
						Gretna, NE  68028

					
					
						2005

					
					
						$3,380,356

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-37

					
					
						Sutherland Care Center

					
						333 Maple Street

					
						Sutherland, NE  69165

					
					
						2005

					
					
						$2,537,340

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-38

					
					
						Waverly Care Center

					
						11041 North 137th Street

					
						Waverly, NE  68462

					
					
						2005

					
					
						$3,066,135

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-39

					
					
						Intentionally deleted.

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-40

					
					
						Intentionally Deleted

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-41

					
					
						Mount Vernon of South Park

					
						1400 Riggs Road

					
						South Park, PA  15129

					
					
						2006

					
					
						$2,718,057

					
					
						10/31/2005

					
					
						9%

				
	
					
						A-42

					
					
						Morningside of Gallatin

					
						1085 Hartsville Pike

					
						Gallatin, TN  37066

					
					
						2006

					
					
						$1,343,801

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-43

					
					
						Walking Horse Meadows

					
						207 Uffelman Drive

					
						Clarksville, TN  37043

					
					
						2007

					
					
						$1,471,410

					
					
						01/01/2007

					
					
						8.25%

				
	
					
						A-44

					
					
						Morningside of Belmont

					
						1710 Magnolia Boulevard

					
						Nashville, TN  37212

					
					
						2006

					
					
						$3,131,648

					
					
						06/03/2005

					
					
						9%

				

		 

 

			
					
						A-45

					
					
						Dominion Village at Chesapeake

					
						2856 Forehand Drive

					
						Chesapeake, VA  23323

					
					
						2005

					
					
						$1,416,951

					
					
						05/30/2003

					
					
						10%

				
	
					
						A-46

					
					
						Dominion Village at Williamsburg

					
						4132 Longhill Road

					
						Williamsburg, VA  23188

					
					
						2005

					
					
						$1,692,753

					
					
						05/30/2003

					
					
						10%

				
	
					
						A-47

					
					
						Intentionally Omitted

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-48

					
					
						Brookfield Rehabilitation and Specialty Care (aka Woodland Healthcare Center)

					
						18741 West Bluemound Road

					
						Brookfield, WI  53045

					
					
						2005

					
					
						$13,028,846

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-49

					
					
						Meadowmere - 

Southport Assisted Living

					
						8350 and 8351 Sheridan Road

					
						Kenosha, WI  53143

					
					
						2009

					
					
						$2,170,645

					
					
						01/04/2008

					
					
						8%

				
	
					
						A-50

					
					
						Meadowmere - 

Madison Assisted Living

					
						5601 Burke Road

					
						Madison, WI  53718

					
					
						2009

					
					
						$2,136,654

					
					
						01/04/2008

					
					
						8%

				
	
					
						A-51

					
					
						Sunny Hill Health Care Center

					
						4325 Nakoma Road

					
						Madison, WI  53711

					
					
						2005

					
					
						$3,237,633

					
					
						12/31/2001

					
					
						10%

				
	
					
						A-52

					
					
						Mitchell Manor Senior Living

					
						5301 West Lincoln Avenue

					
						West Allis, WI  53219

					
					
						2009

					
					
						$12,348,104

					
					
						01/04/2008

					
					
						8%

				
	
					
						A-53

					
					
						Laramie Care Center

					
						503 South 18th Street

					
						Laramie, WY  82070

					
					
						2005

					
					
						$4,473,949

					
					
						12/31/2001

					
					
						10%

				

		 

 

			
					
						A-54

					
					
						Haven in Highland Creek

					
						5920 McChesney Drive

					
						Charlotte, NC  28269

					
						 

					
						Laurels in Highland Creek 
6101 Clark Creek Parkway 

					
						Charlotte, NC  28269

					
					
						2010

					
					
						$6,454,157

					
					
						11/17/2009

					
					
						8.75%

				
	
					
						A-55

					
					
						Haven in the Village 

at Carolina Place

					
						13150 Dorman Road 

					
						Pineville, NC  28134

					
						 

					
						Laurels in the Village

					
						at Carolina Place

					
						13180 Dorman Road 

					
						Pineville, NC  28134

					
					
						2010

					
					
						$7,052,425

					
					
						11/17/2009

					
					
						8.75%

				
	
					
						A-56

					
					
						Haven in the Summit

					
						3 Summit Terrace 

					
						Columbia, SC  29229

					
					
						2010

					
					
						$2,308,737

					
					
						11/17/2009

					
					
						8.75%

				
	
					
						A-57

					
					
						Haven in the Village at Chanticleer 
355 Berkmans Lane 

					
						Greenville, SC  29605

					
					
						2010

					
					
						$2,197,919

					
					
						11/17/2009

					
					
						8.75%

				
	
					
						A-58

					
					
						Intentionally Deleted

					
					
						N/A

					
					
						N/A

					
					
						N/A

					
					
						N/A

				
	
					
						A-59

					
					
						Haven in Stone Oak 
511 Knights Cross Drive

					
						San Antonio, TX  78258

					
						 

					
						Laurels in Stone Oak 

					
						575 Knights Cross Drive San Antonio, TX  78258

					
					
						2010

					
					
						$6,584,027

					
					
						11/17/2009

					
					
						8.75%

				
	
					
						A-60

					
					
						Eastside Gardens
2078 Scenic Highway North
Snellville, GA 30078

					
					
						2010

					
					
						$1,766,628

					
					
						12/10/2009

					
					
						8.75%

				
	
					
						A-61

					
					
						Crimson Pointe

					
						7130 Crimson Ridge Drive

					
						Rockford, IL  61107

					
					
						2012

					
					
						$2,568,827

					
					
						05/01/2011

					
					
						8%

				
	
					
						A-62

					
					
						Talbot Park

					
						6311 Granby Street

					
						Norfolk, VA 23305

					
					
						2012

					
					
						$3,866,871

					
					
						06/20/2011

					
					
						7.5%

				
	
					
						A-63

					
					
						The Landing at Parkwood Village

					
						1720 Parkwood Boulevard

					
						Wilson, NC  27893

					
					
						2012

					
					
						$4,318,990

					
					
						06/20/2011

					
					
						7.5%

				
	
					
						A-64

					
					
						Aspenwood 

					
						14400 Homecrest Road Silver Spring, MD 20906

					
					
						2005

					
					
						$4,470,354

					
					
						10/25/2002

					
					
						10%

				

		 

 

			
					
						A-65

					
					
						HeartFields at Easton
700 Port Street

					
						Easton, MD 21601

					
					
						2005

					
					
						$2,545,887

					
					
						10/25/2002

					
					
						10%

				
	
					
						A-66

					
					
						Morningside of Macon

					
						6191 Peake Road

					
						Macon, GA  31220

					
					
						2006

					
					
						$1,298,541

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-67

					
					
						Morningside of Beaufort

					
						109 Old Salem Road

					
						Beaufort, SC  29902

					
					
						2006

					
					
						$1,337,453

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-68

					
					
						Morningside of Camden

					
						719 Kershaw Highway

					
						Camden, SC  29020

					
					
						2006

					
					
						$1,595,035

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-69

					
					
						Morningside of Hartsville

					
						1901 West Carolina Avenue

					
						Hartsville, SC  29550

					
					
						2006

					
					
						$1,507,131

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-70

					
					
						Morningside of Lexington

					
						218 Old Chapin Road

					
						Lexington, SC  29072

					
					
						2006

					
					
						$1,638,422

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-71

					
					
						Morningside of Orangeburg

					
						2306 Riverbank Drive

					
						Orangeburg, SC  29118

					
					
						2006

					
					
						$1,129,764

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-72

					
					
						Morningside of Seneca

					
						15855 Wells Highway

					
						Seneca, SC  29678

					
					
						2006

					
					
						$1,684,477

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-73

					
					
						Morningside of Cullman

					
						2021 Dahlke Dr. NE

					
						Cullman, AL  32058

					
					
						2006

					
					
						$1,413,633

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-74

					
					
						Morningside of Madison

					
						49 Hughes Road

					
						Madison, AL  35758

					
					
						2006

					
					
						$1,531,206

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-75

					
					
						Morningside of Sheffield

					
						413 D. D. Cox Boulevard

					
						Sheffield, AL  35660

					
					
						2006

					
					
						$1,495,038

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-76

					
					
						Morningside of Bowling Green

					
						981 Campbell Lane

					
						Bowling Green, KY  42104

					
					
						2006

					
					
						$1,458,781

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-77

					
					
						Morningside of Paducah

					
						1700 Elmdale Road

					
						Paducah, KY  42003

					
					
						2006

					
					
						$2,012,245

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-78

					
					
						Morningside of Conyers

					
						1352 Wellbrook Circle

					
						Conyers, GA  30012

					
					
						2006

					
					
						$1,646,910

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-79

					
					
						Morningside of Gainesville

					
						2435 Limestone Parkway

					
						Gainesville, GA  30501

					
					
						2006

					
					
						$1,453,250

					
					
						11/19/2004

					
					
						9%

				

		 

 

			
					
						A-80

					
					
						Morningside of Cleveland

					
						2900 Westside Drive, N.W.

					
						Cleveland, TN  37312

					
					
						2006

					
					
						$1,212,846

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-81

					
					
						Morningside of Cookeville

					
						1010 East Spring Street

					
						Cookeville, TN  38501

					
					
						2006

					
					
						$1,513,932

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-82

					
					
						Morningside of Jackson

					
						1200 North Parkway

					
						Jackson, TN  38305

					
					
						2006

					
					
						$1,787,155

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-83

					
					
						Williamsburg Villas

					
						A Morningside Community

					
						3020 Heatherton Way

					
						Knoxville, TN  37920

					
					
						2006

					
					
						$2,728,841

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-84

					
					
						Morningside of Franklin

					
						105 Sunrise Circle

					
						Franklin, TN  37067

					
					
						2006

					
					
						$1,582,509

					
					
						11/19/2004

					
					
						9%

				
	
					
						A-85

					
					
						Morningside of Hopkinsville

					
						4190 Lafayette Road

					
						Hopkinsville, KY  42240

					
					
						2006

					
					
						$1,444,246

					
					
						11/19/2004

					
					
						9%EX-10.2

 Exhibit 10.2 

THE L. B. FOSTER COMPANY 

2015 
 EXECUTIVE
ANNUAL INCENTIVE COMPENSATION PLAN 
 The purpose of this document is to establish in writing the 2015 performance goals and other
terms applicable to the 2015 awards authorized under the L. B. Foster Company Executive Annual Incentive Compensation Plan (“Plan”) for the Fiscal Year (as defined below). 

 

	I.	DEFINITIONS 

 Capitalized terms not otherwise defined herein shall have the meaning
ascribed thereto in the Plan. The following terms shall be defined as follows: 
 1.1. “Company” shall mean L. B. Foster
Company and those subsidiaries thereof in which L. B. Foster Company owns 100% of the outstanding common stock. 
 1.2.
“Operating Unit” shall mean the Company’s units or divisions which are reported in the Company’s internal financial statements and approved by the Committee as applicable to this Plan and set forth on an exhibit on file with
the Committee. 
 1.3. “Financial Performance Award” shall mean an award, as determined for each Participant, equal
to (i) the “Participant’s Target Incentive” multiplied by (ii) the applicable aggregate percentage specified for Financial Performance Awards under Section 3.2, with the amount to be paid with respect thereto to be
calculated based upon the attainment of the objective financial performance goals established by the Committee for Corporate and Operating Unit Adjusted EBITDA, Corporate and Operating Unit Working Capital as a Percentage of Sales, and Corporate
ROIC for the Fiscal Year as approved by the Committee and set forth on an exhibit on file with the Committee, and subject to the Committee’s right to exercise discretion with respect to the amount to be paid with respect to any such award.

 1.4. “Base Compensation” shall mean the total base salary, rounded to the nearest whole dollar, actually paid to a
Participant during the Fiscal Year, excluding incentive compensation, commissions, reimbursement of expenses, severance, car allowances or all other payments not deemed part of a Participant’s base salary; provided, however, that the
Participant’s contributions to the Company’s 401(k) plan(s) and the payment of overtime shall be included in Base Compensation. To the extent applicable, Base Compensation for Participants who terminate during the Fiscal Year shall include
only such Base Compensation paid to such Participants during the Fiscal Year for the period prior to such termination. 
 1.5.
“Participant” shall mean all executive officers of the Company set forth on Schedule 1.10. 

 1.6. “Participant’s Target Incentive” shall mean the product of the Base
Compensation of a Participant multiplied by the specific target percentage established for a Participant by the Committee as described in Section 3.1 hereof. 

1.7. “Fiscal Year” means the 2015 calendar year (January 1, 2015 through December 31, 2015). 

1.8. “Adjusted EBITDA” (Earnings before interest, taxes, depreciation, and amortization) shall mean with respect to the
Company or an Operating Unit, for the Fiscal Year, determined in accordance with generally accepted accounting principles, including the applicable LIFO charge or credit (a) income from continuing operations; (b) plus income tax expense;
(c) plus interest expense; (d) minus interest income; (e) plus depreciation expense; and (f) plus amortization expense. Adjusted EBITDA shall be calculated without regard to: (i) the effect of changes in accounting
principles, (ii) any on-going and/or one-time costs and/or expenses attributable to an acquisition, including but not limited to, those related to the negotiation, completion and/or integration of an acquisition, incurred during the Fiscal
Year, (iii) any costs related to the purchase accounting step up in the basis of tangible or intangible assets not classified as depreciation or amortization, (iv) any on-going and/or one-time costs and/or expenses related to the
unsuccessfully attempted acquisition of a business during the Fiscal Year (exclusive of employee travel), (v) any on-going and/or one-time costs and/or expenses (exclusive of employee travel) associated with the sale or attempted sale of a
business in the Fiscal Year, (vi) any significant or non-recurring items which are disclosed in management’s discussion and analysis of financial condition and results of operations in the Company’s Annual Report on Form 10-K for such
period and which would have an adverse effect on the pay-out amount of a Participant’s Financial Performance Award, (vii) the costs of the Plan for domestic Operating Units, (viii) the impact on any Operating Unit attributable to any
administrative intercompany charges related to transfer pricing compliance where the consolidated impact is zero, and (ix) the reported results of an acquisition completed in the Fiscal Year. Notwithstanding the foregoing, in the event that a
business is sold during the Fiscal Year, such business’ Target and Adjusted actual results shall be eliminated from all calculations. 

1.9. “Working Capital as a Percentage of Sales” (“W/C as a % of Sales”) shall mean with respect to the Company, or
as applicable, for an Operating Unit, for the Fiscal Year, the average monthly balances of Inventory and Accounts Receivable less the average monthly balances of Accounts Payable and Deferred Revenue divided by annual net sales, provided however
that all the above items, shall be determined without regard to: (i) any on-going and/or one-time costs and/or expenses relating to acquisitions transacted during the Fiscal Year, (ii) businesses reclassified as “Discontinued
Operations,” (iii) the impact on any Operating Unit attributable to any administrative intercompany charges related to transfer pricing compliance where the consolidated impact is zero, and (iv) the reported results of an acquisition
completed in the Fiscal Year, including the results of operations and financial position. Notwithstanding the foregoing, in the event that a business is sold during the Fiscal Year, such business’ Target and adjusted Actual results shall be
eliminated from all calculations. 

 1.10. “Return on Invested Capital” (“ROIC”) shall mean, with respect
to the Company for the Fiscal Year: (a) after tax earnings from continuing operations before interest income and interest expense and amortization charges (all tax affected using the effective corporate tax rate), divided by (b) an average
of month end total assets less the sum of cash, marketable securities and non-interest bearing current liabilities, determined in accordance with generally accepted accounting principles. ROIC shall be expressed as a percentage and shall be
determined without regard to: (i) the effect of changes in accounting principles, (ii) any on-going and/or one-time costs and/or expenses attributable to an acquisition, including but not limited to, those related to the negotiation,
completion and/or integration of an acquisition, incurred during the Fiscal Year, (iii) any costs related to purchase accounting step up in the basis of tangible or intangible assets not classified as amortization, (iv) the elimination of
the impact of all assets and liabilities purchased or incurred as a result of an acquisition, (v) any on-going and/or one-time costs and/or expenses (exclusive of employee travel) related to the unsuccessfully attempted acquisition of a
business during the Fiscal Year, (vi) any on-going and/or one-time costs and/or expenses associated with the successful or unsuccessful sale of a business (exclusive of employee travel), (vii) any significant or non-recurring items which
are disclosed in management’s discussion and analysis of financial condition and results of operations in the Company’s Annual Report on Form 10-K for such period and which would have an adverse effect on the pay-out amount of a
Participant’s Financial Performance Award, and (viii) the reported results of an acquisition completed in the Fiscal Year, including the results of operations and financial position. Notwithstanding the foregoing, in the event that a
business is sold during the Fiscal Year, such business’ Target and adjusted actual results shall be eliminated from all calculations. 

1.11. “Target Working Capital as a Percent of Sales (Corporate and Operating Unit), Target Adjusted EBITDA (Corporate and Operating
Unit), and Target ROIC” shall mean the respective targets approved by the Committee as applicable to this Plan and set forth on an exhibit on file with the Committee. 

1.12. “Section 162(m) Officer Bonus Pool” shall mean 7% of the Adjusted EBITDA for the Fiscal Year, which shall be allocable
to the Section 162(m) Officers in the percentages set forth on an exhibit on file with the Committee, subject to the Committee’s right to reduce any such allocations in its sole discretion. Adjusted EBITDA for the Section 162(m)
Officer Bonus Pool shall be defined as set forth on an exhibit on file with the Committee. 
 1.13. “Section 162(m)
Officer” shall mean the officers of the Company who are listed as Section 162(m) Officers on an exhibit on file with the Committee, and who the Company has determined may be subject to the limitations imposed on “covered
employees” under Section 162(m) of the Internal Revenue Code of 1986, as amended. 
  

	II.	ELIGIBILITY 

 2.1. Additional Conditions. Subject to the terms and conditions set
forth herein and in the Plan and unless the Committee determines otherwise, in its sole discretion, a Participant’s right, if any, to receive payment of their respective Financial Performance Awards shall also be contingent upon satisfaction of
each of the following requirements: 

 a. A Participant must execute a Confidentiality, Intellectual Property and
Non-Compete Agreement in a form satisfactory to the Committee and deliver the executed agreement to the Company’s Vice President, Human Resources and Administration on or before October 1 of the applicable Fiscal Year. If a Participant
previously has executed a Confidentiality, Intellectual Property and Non-Compete Agreement, the Participant need not execute and deliver another Confidentiality, Intellectual Property and Non-Compete Agreement. 

b. A Participant’s Target Percentage award shall be specifically established by the Committee as set forth in
Section 3.1. In the event a Participant changes from one position to another position or is promoted into one of the positions approved by the Committee as described in Section 3.1 during the Fiscal Year performance period, the Target
Percentage for such Participant shall be pro-rated between the Target Percentages of each position held during the Fiscal Year based on which position was held on the first day of each month in the Fiscal Year performance period and may be allocated
among different Operating Units as determined by the Committee. Any newly hired Participant shall have a specific Target Percentage established by the Committee, provided their employment began in such position by October 1 of the Fiscal Year
performance period. 
 c. Except as otherwise expressly set forth in Section 6(b) of the Plan or as otherwise
determined by the Committee, if a Participant’s employment terminates with the Company prior to the Payment Date, the Participant shall forfeit any and all rights to payment or any Financial Performance Award granted hereunder. 

d. For Participants who are Section 162(m) Officers, funding of the Section 162(m) Officer Bonus Pool. 

 

	III.	AWARDS 

 The Section 162(m) Officer Bonus Pool shall be funded and allocable to Participants who are
Section 162(m) Officers in the percentages set forth on an exhibit on file with the Committee, subject to the Committee’s right to reduce any such allocations in its sole discretion. In this regard, the Target Percentage and Target Amount,
as described in Sections 3.1 and 3.2 below, will be considered by the Committee in exercising its right of discretion. 
 3.1. Target
Percentages. Each Participant shall have a Target Percentage based upon the position held by such Participant as approved by the Committee on March 13, 2015 and set forth on an exhibit on file with the Committee.  

Other employees selected by the Committee may also be made Participants in the Plan on such terms as may be approved by the Committee and
consistent with the terms of the Plan. 

 3.2. Target Amount. The target amount of a Participant’s Financial Performance Award,
if any, shall be determined and allocated based on the percentages specified in the table below: 
  

											
	 	  	Metric	  	CEO, Sr VP & CFO;
VP-Business
Development; VP-
Human
Resources & Admin; VP
&
General Counsel; and
Controller and CAO	 	 	VP’s and
SVP Responsible
for Operating
Unit(s)	 
		  	Corporate ROIC	  	 	15	% 	 	 	—  	  
	 Financial

Performance

Awards
	  	Operating Unit
Adjusted EBITDA	  	 	—  	  	 	 	50	% 
		  	Working Capital as
a % of Sales	  	 	15	% 	 	 	20	% 
		  	Corporate Adjusted
 EBITDA
	  	 	70	% 	 	 	30	% 

 3.3. Financial Performance Award Multiplier. Subject to the terms and conditions set forth herein and
in the Plan, the amount of Financial Performance Award earned shall be calculated and adjusted upward or downward based on the actual level of attainment of Target W/C as a % of Sales (Corporate and Operating Unit), Target Adjusted EBITDA (Corporate
and Operating Unit) and/or Target ROIC (as allocated under Section 3.2) utilizing the percentage multiplier as set forth in the following tables:  

a. Adjusted EBITDA Multiplier (Corporate/Operating Unit) 
  

			
	 % of Target Adjusted EBITDA
	  	Corporate or Operating
Unit Multiplier
	 170% and over
	  	200%
	 160%
	  	185%
	 150%
	  	175%
	 140%
	  	160%
	 130%
	  	145%
	 120%
	  	130%
	 110%
	  	115%
	 100%
	  	100%
	 90%
	  	84%
	 80%
	  	68%
	 70%
	  	52%
	 60%
	  	36%
	 50%
	  	20%
	 Less than 50%
	  	0%

 b. ROIC Multiplier 

 

			
	 % of Target ROIC
	  	ROIC Multiplier
	 127.5% and over
	  	200%
	 123.0%
	  	167%
	 112.8%
	  	133%
	 100.0%
	  	100%
	 93.7%
	  	73%
	 87.8%
	  	47%
	 80.0%
	  	20%
	 Less than 80.0%
	  	0.0%

 c. W/C as a % of Sales Multiplier 

 

			
	 % of Target Average W/C as a % of Sales
	  	Corporate or Operating
Unit Multiplier
	 86.0% and under
	  	200%
	 88.7%
	  	175%
	 91.3%
	  	150%
	 94.3%
	  	130%
	 97.4%
	  	115%
	 100.0%
	  	100%
	 102.9%
	  	80%
	 106.5%
	  	60%
	 110.0%
	  	40%
	 Greater than 110.0%
	  	0%

 The calculation of the percent of target achieved in the above tables shall be adjusted proportionately to
reflect whole percentages achieved between the levels in the table. For example, if Corporate achieved 73% of Target Adjusted EBITDA, the percent of target achieved would be 57%; if Corporate achieved 137% of Target Adjusted EBITDA, the percent of
target achieved would be 156%. 
 3.4. Limitation on Financial Performance Award. Notwithstanding any provision to the contrary, a
Participant’s Financial Performance Award shall not exceed (i) $1,500,000 for any Participant for the Fiscal Year performance period under the Plan or (ii) if lower, for any Participant who is a Section 162(m) Officer, such
Participant’s designated performance pool percentage of the Section 162(m) Officer Bonus Pool as set forth on an exhibit on file with the Committee . In the event that the amount of any such award for the Fiscal Year earned exceeds
$1,500,000 for a Participant, or the designated performance pool percentage for any Section 162(m) Officer, such award shall be reduced to $1,500,000 or, if lower, the applicable designated performance pool percentage. 

	IV.	RECOUPMENT 

 In the event the Company is required to prepare an accounting restatement
applicable to any financial reporting period covering a period within the Fiscal Year due to the material noncompliance of the Company with any financial reporting requirement under the securities laws or other applicable law and if the Committee,
in its discretion, so determines, each “Specified Participant” (as defined below) shall pay to the Company, in cash, all cash paid to or on behalf of such Participant under the Plan for the Fiscal Year in excess of the amount of such
compensation that would have been paid to the Participant for the Fiscal Year based on the restated financial results. Any such payment shall be made within the time periods prescribed by the Committee. The term “Specified Participant”
means any Participant that the Committee has determined, in its sole discretion, has committed fraud, negligence, or intentional misconduct that was a significant contributing factor to the Company having to prepare an accounting restatement. A
Specified Participant’s failure to make any such timely payment to the Company constitutes an independent and material breach of the terms and conditions of the Plan, for which the Company may seek recovery of the unpaid amount as liquidated
damages, in addition to all other rights and remedies the Company may have against the Participant. By participating in the Plan, each Participant agrees that timely payment to the Company as set forth in this Section IV is (i) reasonable and
necessary, (ii) is not a penalty, and (iii) does not preclude the Company from seeking all other remedies that may be available to the Company. 

The Committee, in its discretion, shall determine whether the Company shall effect any such recovery (i) by seeking repayment from the
Specified Participant, (ii) by reducing (subject to applicable law and the terms and conditions of the applicable plan, program or arrangement) the amount that would otherwise be payable to the Specified Participant under any compensatory plan,
program or arrangement maintained by the Company or any of its affiliates, (iii) by withholding payment of future increases in compensation (including the payment of any discretionary bonus amount) or grants of compensatory awards that would
otherwise have been made in accordance with the Company’s otherwise applicable compensation practices, or (iv) by any combination of the foregoing. 

Notwithstanding any other provisions of this document, if the awards granted pursuant to this document become subject to recovery under any
Company policy adopted hereafter and required by law, regulation or stock exchange listing requirement, the awards shall be subject to such deductions, recoupment, and clawback as may be required to be made pursuant to such Company policy (the
“Clawback Requirement”). In the event the awards granted pursuant to this document and the Plan become subject to such Clawback Requirement, then the awards shall be subject to such Clawback Requirement, and this Section IV shall no longer
apply to such awards. 
 Notwithstanding the foregoing, the Company shall not be required to make any additional payment in the event
that the restated financial results would have resulted in a greater payment to any Participant. 

	V.	COMPENSATION COMMITTEE 

 All determinations with respect to any Financial Performance
Award shall be made by the Committee and shall be final, conclusive and binding on the Company, the Participant and any and all interested parties. No payment of a Financial Performance Award shall be made prior to the Committee certifying in
writing that the performance goals and other material terms applicable to such awards for the Fiscal Year as set forth herein (including the Schedule attached hereto and/or the applicable exhibits on file with the Committee) have been attained. 

The undersigned Chairman of the Committee hereby certifies, on behalf of the Committee, that the performance goals and other material terms
applicable to the awards for the Fiscal Year as set forth herein (including the Schedule attached hereto) have been determined and approved at the Committee meeting on March 13, 2015. 

 

			
	By:		 /s/ William H. Rackoff

			William H. Rackoff
			Chairman, Compensation Committee

 Schedule 1.10 
  

					
	 Participants
	  	 Title*
	  	 Operating Unit(s)

	Robert P. Bauer	  	President and CEO	  	Consolidate Corporate
			
	Merry L. Brumbaugh	  	VP - Tubular Products	  	Tubular
			
	Steven R. Burgess	  	 VP - Concrete Products
 President - CXT
	  	Rail (inc. Buildings)
			
	Samuel K. Fisher	  	VP - Rail Distribution	  	Rail (inc. Buildings)
			
	Patrick J. Guinee	  	VP and General Counsel	  	Consolidated Corporate
			
	John F. Kasel	  	Sr VP - Rail Business	  	Rail (inc. Buildings)
			
	Brian H. Kelly	  	VP - Human Resources & Administration	  	Consolidated Corporate
			
	Gregory W. Lippard	  	VP - Rail Product Sales	  	Rail (inc. Buildings)
			
	Konstantinos Papazoglou	  	VP - Rail Technology	  	Rail (inc. Buildings)
			
	Christopher T. Scanlon	  	Controller	  	Consolidated Corporate
			
	David J. Russo	  	Sr VP and CFO	  	Consolidated Corporate
			
	David R. Sauder	  	VP - Global Business Development	  	Consolidated Corporate

  

	*	Subject to change pursuant to Section 3.1. 

  

	
	 Approved by Committee this
 13th day of March, 2015.

	
	 /s/ William H. Rackoff

	 Chairman

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