SEC Contract Filing

Filing Date: 2023-08-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2324869d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Exhibit&nbsp;10.1</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADDENDUM TO EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS ADDENDUM TO EMPLOYMENT
AGREEMENT (this &ldquo;<U>Addendum</U>&rdquo;) is dated as of August&nbsp;25, 2023, by and among Floor and Decor Outlets of America,&nbsp;Inc.,
a Delaware corporation (the &ldquo;<U>Operating Company</U>&rdquo;), Floor&nbsp;&amp; Decor Holdings,&nbsp;Inc., a Delaware corporation
(&ldquo;<U>Holdings</U>&rdquo; and, together with the Operating Company, the &ldquo;<U>Company</U>&rdquo;), and Brian K. Robbins, the
undersigned individual (&ldquo;<U>Executive</U>&rdquo; and, together with the Company, the &ldquo;<U>Parties</U>&rdquo;), and is intended
to modify the Amended and Restated Employment Agreement, dated as of February&nbsp;3, 2020, as modified by the addendum dated March&nbsp;26,
2020 and August&nbsp;1, 2023 (the &ldquo;<U>Employment Agreement</U>&rdquo;), by and between the Company and Executive. Any capitalized
term not defined herein will have the meaning ascribed to such term in the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Executive is employed
as the Company&rsquo;s Executive Vice President &ndash; Business Development Strategy pursuant to the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Parties acknowledge that
they have reached a mutual agreement that Executive will terminate his employment as Executive Vice President &ndash; Business Development
Strategy effective as of March&nbsp;1, 2024 (the &ldquo;<U>Separation Date</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of Executive
continuing to provide transition services to the Company through the Separation Date, and subject to Executive timely executing, delivering
to the Company and not revoking a release of any and all claims that Executive may have against the Company substantially in the form
set forth in Exhibit&nbsp;A to the Employment Agreement (the &ldquo;<U>Release Agreement</U>&rdquo;), upon the Separation Date, and of
the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties hereto hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Employment Agreement shall be amended to append the following to the first sentence of Section&nbsp;1(a)&nbsp;thereof:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<U>provided</U> that, during
the period (the &ldquo;<U>Transition Period</U>&rdquo;) from August&nbsp;25, 2023 through March&nbsp;1, 2024 (the &ldquo;<U>Termination
Date</U>&rdquo;) Executive shall provide such services related to the transition of his role during the Transition Period as the Chief
Executive Officer of the Company may reasonably request from time to time.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Employment Agreement shall be amended to replace the second sentence of Section&nbsp;1(a)&nbsp;thereof with the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;The term of employment hereunder
shall commence on the Effective Date and terminate on the Termination Date, unless earlier terminated as set forth herein.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Employment Agreement shall be amended to append the following as the last sentence of Section&nbsp;2(b)&nbsp;thereof:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;Notwithstanding anything in
the foregoing to the contrary, for fiscal year 2024 and thereafter, Executive will not be eligible to earn a Bonus under the Bonus Plan.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; m