<SEC-DOCUMENT>0001193125-14-327341.txt : 20140829
<SEC-HEADER>0001193125-14-327341.hdr.sgml : 20140829
<ACCEPTANCE-DATETIME>20140829154753
ACCESSION NUMBER:		0001193125-14-327341
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140827
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
FILED AS OF DATE:		20140829
DATE AS OF CHANGE:		20140829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONRO MUFFLER BRAKE INC
		CENTRAL INDEX KEY:			0000876427
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING [7500]
		IRS NUMBER:				160838627
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19357
		FILM NUMBER:		141075302

	BUSINESS ADDRESS:	
		STREET 1:		200 HOLLEDER PKWY
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14615-3808
		BUSINESS PHONE:		5856476400

	MAIL ADDRESS:	
		STREET 1:		200 HOLLEDER PKWY
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14615-3808
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d780353d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of Earliest Event Reported): August&nbsp;27, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>MONRO MUFFLER BRAKE, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>New York</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>0-19357</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>16-0838627</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>200 Holleder Parkway, Rochester, New York</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>14615</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code (585) 647-6400 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item&nbsp;1.01 Entry into a Material Agreement </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On August&nbsp;27, 2014, Monro Muffler Brake, Inc. (the &#147;Company&#148;) entered into an Employment Agreement with its Executive Vice
President and Chief Financial Officer, Catherine D&#146;Amico (the &#147;Agreement&#148;). The Agreement will become effective on September&nbsp;1, 2014 (the &#147;Effective Date&#148;) and have a four-year term. During the term of the Agreement,
Ms.&nbsp;D&#146;Amico will continue in her current role as the Company&#146;s Executive Vice President and Chief Financial Officer until December&nbsp;31, 2016 (the &#147;Executive Period&#148;). Following the Executive Period and until
August&nbsp;31, 2018, Ms.&nbsp;D&#146;Amico will provide services on a part-time basis as requested by the Company (the &#147;Transition Period&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Agreement and during the Executive Period, Ms.&nbsp;D&#146;Amico (i)&nbsp;will be paid an annual base salary of $350,200 until
March&nbsp;31, 2015; (ii)&nbsp;will be paid an annual base salary of $375,000 from April&nbsp;1, 2015 to the end of the Executive Period; (iii)&nbsp;will be eligible to earn a target bonus, pursuant to the terms of the Company&#146;s bonus plan,
equal to up to 87.5% of her base salary, upon the achievement of certain predetermined corporate objectives; and (iv)&nbsp;will participate in the Company&#146;s other incentive and welfare and benefit plans made available to executives. During the
Transition Period, the Company will pay Ms.&nbsp;D&#146;Amico an hourly rate to be agreed upon, but she will no longer participate in the Company&#146;s incentive benefit plans, including the bonus plan. In addition, during the Transition Period,
Ms.&nbsp;D&#146;Amico may participate in the Company&#146;s employee benefit plans, but only to the extent she is eligible under the terms of such plans and the Company&#146;s then-current policies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, either: (a)&nbsp;upon the termination of her Agreement other than for Cause or without Good Reason (both as defined in the
Agreement); or (b)&nbsp;during the Transition Period, to the extent she is not otherwise eligible to participate in the Company&#146;s health plans, Ms.&nbsp;D&#146;Amico will be eligible to participate in the fully-insured group health plan
then-offered by the Company (the &#147;Medical Benefit&#148;). The Medical Benefit will continue until the earliest to occur of certain events, including: (i)&nbsp;Ms.&nbsp;D&#146;Amico reaches sixty-five years of age; (ii)&nbsp;she otherwise
becomes eligible to participate in another group health plan; or (iii)&nbsp;the Company no longer offers a fully-insured group health plan. She will receive this Medical Benefit to the extent the Company incurs no additional cost as a result of her
participation in the plan. Therefore, Ms.&nbsp;D&#146;Amico will pay the full premium cost for such coverage, as well as the incremental cost (if any) to the Company&#146;s health plan caused by her inclusion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Finally, Ms.&nbsp;D&#146;Amico is entitled during the Executive Period to certain payments upon death, disability, a termination without Cause
(as defined therein), her resignation for Good Reason (as defined therein) or a termination in the event of a Change in Control of the Company (as defined therein), all as set forth in detail in the Agreement. In accordance with the policy adopted
by the Compensation Committee in May 2009, Ms.&nbsp;D&#146;Amico&#146;s contract does not include any provision for the payment of what is commonly referred to as an &#147;excise tax gross-up&#148; with respect to payments received by her upon a
Change in Control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Also, on August&nbsp;27, 2014 and in consideration of Ms.&nbsp;D&#146;Amico&#146;s execution of the Agreement, the
Company&#146;s Compensation Committee awarded to Ms.&nbsp;D&#146;Amico a five (5)&nbsp;year option to purchase 35,000 shares of Common Stock at an exercise price of $52.82 per share (the closing price of the Company&#146;s stock on the date of the
award), pursuant to the Company&#146;s 2007 Stock Incentive Plan (the &#147;Executive Option&#148;). The Executive Option will vest equally over four (4)&nbsp;years, beginning August&nbsp;26, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the Company&#146;s Employment Agreement with Ms.&nbsp;D&#146;Amico is attached to this Current Report as Exhibit 99.1 and
incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item&nbsp;1.02 Termination of a Material Definitive Agreement </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon the Effective Date, the Agreement will supersede and replace in its entirety the existing employment agreement by and between the Company
and Ms.&nbsp;D&#146;Amico, dated December&nbsp;20, 2010. </P>

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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>Exhibit&nbsp;No.<B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman"><B></B>Description<B></B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement by and between Monro Muffler Brake, Inc. and Catherine D&#146;Amico , dated August&nbsp;27, 2014.</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNATURES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><U>MONRO MUFFLER BRAKE, INC.</U></TD></TR>
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<TD VALIGN="top"></TD>
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<TD VALIGN="bottom" COLSPAN="3">(Registrant)</TD></TR>
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<TD VALIGN="top">August 29, 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Maureen E. Mulholland</TD></TR>
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<TD VALIGN="top">Maureen E. Mulholland</TD></TR>
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<TD VALIGN="bottom" NOWRAP>Vice President, General Counsel and Assistant Secretary</TD></TR>
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<TYPE>EX-99.1
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<FILENAME>d780353dex991.htm
<DESCRIPTION>EX-99.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit No. 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>EMPLOYMENT AGREEMENT </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EMPLOYMENT AGREEMENT, entered into on August&nbsp;27, 2014 and effective as of September&nbsp;1, 2014 (the &#147;Effective Date&#148;),
between Monro Muffler Brake, Inc. (the &#147;Company&#148;) and Catherine D&#146;Amico (the &#147;Executive&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company
and the Executive wish for the Executive to continue to be employed by the Company upon the terms and conditions as set forth herein; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Employment and Duties.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.1 <U>Employment by the Company</U>. The Company hereby agrees to employ the Executive for the Term (as herein defined), to render exclusive
and full-time services in the capacity of Executive Vice President and Chief Financial Officer of the Company during the Executive Period (as herein defined), subject to the control and direction of the Company&#146;s Chief Executive Officer (the
&#147;CEO&#148;) and its Board of Directors (the &#147;Board&#148;), and to render services on a part-time basis as requested by the Company in the capacity of Director (Staff) during the Transition Period (as herein defined). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.2 <U>Duties/Authority</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A) During the Executive Period, the Executive shall have responsibility for the conduct of the fiscal affairs of the Company and the general
supervision of and control over the Company&#146;s Finance, Human Resources, Legal, Information Technology and Risk Management Departments, in each case subject to the control and direction of the CEO and Board. The Executive&#146;s duties hereunder
during such period shall be consistent with the duties, responsibilities, and authority generally incident to the position of Executive Vice President and Chief Financial Officer and such other reasonably related duties as may be assigned to her
from time to time by the CEO or the Board. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B) During the Transition Period, the Executive shall have responsibility for certain matters
assigned to her, in each case subject to the control and direction of the CEO or his designee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Term of Employment</U>. The term of
this Agreement shall commence on the Effective Date and end on August&nbsp;31, 2018 (the &#147;Term&#148;), unless sooner terminated as provided herein. The portion of the Term commencing on the Effective Date and ending on December&nbsp;31, 2016 is
the Executive Period of the Term (the &#147;Executive Period&#148;), and the portion of the Term commencing on January&nbsp;1, 2017 and ending on August&nbsp;31, 2018 is the Transition Period of the Term (the &#147;Transition Period&#148;). </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Compensation.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.1 <U>Salary</U>. As consideration for services rendered, the Company shall pay the Executive a salary of $350,200 per annum for the period
from the Effective Date to March&nbsp;31, 2015, and $375,000 per annum for the period from April&nbsp;1, 2015 through the end of the Executive Period (the &#147;Base Salary&#148;), payable not less frequently than monthly. As consideration for
services rendered during the Transition Period, the Company shall pay the Executive as set forth in Section&nbsp;7. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.2 <U>Annual
Bonus</U>. Pursuant to the Company&#146;s bonus plan (the &#147;Bonus Plan&#148;), the Company shall pay the Executive, within 120 days of its fiscal year-end, a bonus in respect of each prior fiscal year during the Executive Period (beginning with
the fiscal year ending in March 2015), of 35% of Base Salary if the Company achieves its performance targets set by the Compensation Committee with respect to such year, increased up to a maximum of 87.5% of Base Salary if the Company exceeds such
performance targets by amounts to be determined by the Compensation Committee (the &#147;Annual Bonus&#148;). If this Agreement terminates other than at the end of a fiscal year either: (A)&nbsp;upon the expiration of the Executive Period; or
(B)&nbsp;pursuant to Section&nbsp;4, and the Executive is entitled to a pro rata bonus for such partial year pursuant to Section&nbsp;5 hereof, such pro rata bonus shall be equal to the bonus the Executive would have received under the Bonus Plan,
based on the Company&#146;s actual performance during such fiscal year, had she been employed as Executive Vice President and Chief Financial Officer by the Company for the entire fiscal year, multiplied by a fraction, the numerator of which shall
be the number of days during such fiscal year she was so employed as Executive Vice President and Chief Financial Officer and the denominator of which shall be the number of days in such fiscal year (the &#147;Pro Rata Bonus&#148;). The Executive
may be entitled to the Annual Bonus for the year prior to the year in which the Executive&#146;s employment as Executive Vice President and Chief Financial Officer is terminated, to the extent not yet paid (the &#147;Preceding Bonus&#148;). The
Executive shall be entitled to receive the Preceding Bonus and/or the Pro Rata Bonus, as applicable: (i)&nbsp;at the same time the annual bonuses for the same periods are paid to other senior-level executives of the Company; and (ii)&nbsp;only to
the extent the Company&#146;s Board or any committee designated by the Board determines to pay such bonus to the executive-level employees of the Company. The Annual Bonus shall, in all respects, be subject to the terms of the Bonus Plan. For the
avoidance of doubt, the Executive shall not be entitled to an Annual Bonus for any portion of the Transition Period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.3 <U>Option
Grant</U>. The Compensation Committee shall meet to determine whether to grant to the Executive an option to purchase 35,000 shares of the Company&#146;s Common Stock (the &#147;Option&#148;) under the terms of the 2007 Stock Incentive Plan (the
&#147;Plan&#148;). The Option shall have an exercise price per share equal to the fair market value of one share of the Company&#146;s Common Stock on the date of grant, as determined in accordance with the Plan, and shall have a five-year term. The
date of grant of the Option shall be the date on which the Compensation Committee approves the grant of the Option. Subject to the final determination by the Compensation Committee referenced above, as well as the Executive&#146;s continued
employment with the Company, the Option shall become exercisable with respect to the shares of Common Stock in accordance with the following schedule: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="19%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:41.95pt; font-size:8pt; font-family:Times New Roman">Vesting Date</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount&nbsp;Exercisable</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1st Anniversary of the Date of the Award</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2nd Anniversary of the Date of the Award</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3rd Anniversary of the Date of the Award</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4th Anniversary of the Date of the Award</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.4 <U>Participation in Employee Benefit Plans</U>. The Executive shall be permitted during the Executive
Period, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health program, or any pension plan or similar benefit plan of the Company, which is available generally to other senior
executives of the Company. During the Transition Period and subject to Section&nbsp;7.2, the Executive shall be permitted to participate in any group life, hospitalization or disability insurance plan, health program, or any pension plan or similar
benefit plan of the Company that is made available to the employees of the Company if and to the extent that the Executive is eligible to participate in such arrangement under the terms thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.5 <U>Expenses</U>. Subject to such policies generally applicable to senior executives of the Company, as may from time to time be established
by the Board, the Company shall pay or reimburse the Executive for all reasonable expenses (including travel expenses) actually incurred or paid by the Executive during the Term in the performance of the Executive&#146;s services under this
Agreement (&#147;Expenses&#148;) upon presentation of expense statements or vouchers or such other supporting information as it may require. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.6 <U>Vacation</U>. During the Executive Period, the Executive shall be entitled to such amount of vacation which is available generally to
other senior executives of the Company. During the Transition Period, the Executive shall be entitled to the amount of vacation for which she is eligible under the terms of the Company&#146;s vacation policy for employees in effect at that time.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.7 <U>Additional Benefits</U>. During the Executive Period, the Executive shall be entitled to the use of an automobile comparable to
that provided to other senior executives in connection with the rendering of services to the Company pursuant to this Agreement, together with reimbursement for all gas, maintenance, insurance and repairs required by reason of her use of such
vehicle. At the end of the Executive Period, the Executive may purchase from the Company the automobile used by her at that time pursuant to this Section&nbsp;3.7, at a purchase price equal to the net book value of the automobile at that time, which
purchase, if any, shall occur during the calendar year following the calendar year in which the Executive Period ends. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3.8 <U>Controlling
Document</U>. To the extent there is any inconsistency between the terms of this Agreement and the terms of any plan or program under which compensation or benefits are provided hereunder, this Agreement shall control. Otherwise, the Executive shall
be subject to the terms, conditions and provisions of the Company&#146;s plans and programs, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Termination or Removal from Duties.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.1 <U>Termination Upon Death</U>. This Agreement shall terminate automatically upon the Executive&#146;s death. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.2 <U>Removal from Position Upon Disability</U>. If during the Term, as a result of a physical or mental incapacity or infirmity, the
Executive is unable to perform the essential functions of her job with or without reasonable accommodation for a period or periods aggregating 90 days during any twelve month period, the Executive shall be deemed disabled (the
&#147;Disability&#148;) and the Company, by written notice to the Executive, shall have the right to remove her from her position. The Executive&#146;s status as an inactive employee of the Company shall continue after such removal for the period of
time that her Disability continues. However, the Company shall have no obligation to reinstate or otherwise continue the Executive&#146;s employment if she should recover from her Disability and any such termination shall not constitute a
termination without Cause or without Good Reason (as herein defined). The existence of a Disability shall be determined by a reputable, licensed physician selected by the Company in good faith, whose determination shall be final and binding on the
parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.3 <U>Termination for Cause</U>. The Company may at any time, by written notice to the Executive, terminate the Executive&#146;s
employment hereunder for Cause. For purposes hereof, the term &#147;Cause&#148; shall mean: (A)&nbsp;Executive&#146;s conviction of or pleading guilty or no contest to a felony; (B)&nbsp;failure or refusal of the Executive in any material respect
(i)&nbsp;to perform the duties of her employment or to follow the lawful and proper directives of the Board, provided such duties or directives are consistent with this Agreement and such duties or directives have been given to the Executive in
writing, or (ii)&nbsp;to comply with the reasonable and substantial written policies, practices, standards or regulations of the Company (so long as same are not inconsistent with this Agreement) as may be established from time to time, if such
failure or refusal under either clause (i)&nbsp;or clause (ii)&nbsp;continues uncured for a period of 10 days after written notice thereof, specifying the nature of such failure or refusal and requesting that it be cured, is given by the Company to
the Executive; (C)&nbsp;any willful or intentional act of the Executive committed for the purpose, or having the reasonably foreseeable effect, of injuring the Company, its business or reputation or of improperly or unlawfully converting for the
Executive&#146;s own personal benefit any property of the Company; or (D)&nbsp;any violation or breach of the provisions of Section&nbsp;8 of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.4 <U>Termination without Cause</U>. During the Term, the Company may terminate the Executive&#146;s employment without Cause at any time.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4.5 <U>Termination with or without Good Reason</U>. With forty-five (45)&nbsp;days&#146; prior written notice to the Company, this
Agreement and the Executive&#146;s employment hereunder may be terminated by the Executive with or without Good Reason. For purposes of this Agreement, &#147;Good Reason&#148; means if the Executive is able to document, to the reasonable
satisfaction of the Company&#146;s outside counsel, that the reason for such resignation is as a direct result of either: (i)&nbsp;the Company&#146;s material breach of this Agreement; or (ii)&nbsp;the Board requiring the Executive to act, or omit
to act, in a way that the Executive reasonably believes is illegal; provided, however, that a termination by the Executive for Good Reason pursuant to (i)&nbsp;or (ii)&nbsp;shall be effective only if, within 30 days following the delivery of written
notice of a termination </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
for Good Reason by Executive to the Company, the Company has failed to cure the circumstances giving rise to the Good Reason. The written notice of termination for Good Reason must specify in
reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive&#146;s employment under the provision so indicated, if applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any resignation pursuant to the terms of this Section shall not constitute a breach of this Agreement by either party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Rights and Obligations of the Company and the Executive Upon Termination, or Removal</U>. Other provisions of this Agreement
notwithstanding, upon the occurrence of an event described in Section&nbsp;4, the parties shall have the following rights and obligations: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.1 <U>Death</U>. If the Executive&#146;s employment is terminated before the end of the Executive Period by reason of the Executive&#146;s
death, the Company shall pay the Executive&#146;s estate in one lump sum amount: (A)&nbsp;the lesser of (i)&nbsp;one year&#146;s Base Salary (as in effect as of the date of termination), or (ii)&nbsp;the amount of Base Salary that would have been
payable to the Executive from the date of death through the end of the Executive Period, payable on the six-month anniversary of the date of the Executive&#146;s death; plus (B)&nbsp;any Preceding and/or Pro Rata Bonus to which the Executive is
entitled, which shall be paid in accordance with Section&nbsp;3.2. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.2 <U>Disability</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A) During the Executive Period: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(i) If the Executive is removed from her position because of a Disability, the Executive, for the period of time during which her Disability
continues, may continue to participate in certain of the employee benefit plans in which she participated immediately prior to her removal. These benefits would include participation in, as applicable and to the extent defined in the Company&#146;s
applicable plans, group life, medical/dental and disability insurance plans, each at the same ratio of employer/employee contribution as applicable to the Executive immediately prior to her removal; and, thereafter, at the same ratio of
employer/employee contribution as then-applicable to other executive-level employees in the Company. In addition, the Executive shall be entitled to compensation and benefits accrued through the date of her removal from her duties, including any
amounts payable to the Executive under any Company profit sharing or other employee benefit plan up to the date of removal. For avoidance of doubt, the payment of any bonus to which the Executive may be entitled for the period of time up to the date
of her removal pursuant to Section&nbsp;4.2 hereof, would be paid pursuant to Section&nbsp;5.2(B)(ii), below. However, the Executive&#146;s rights to bonuses and fringe benefits accruing after her removal, if any, shall cease upon such removal;
provided, however, that nothing contained in this Agreement is intended to limit or otherwise restrict the availability of any benefits to the Executive required to be provided pursuant to Section&nbsp;4980B of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(ii) The Executive shall be entitled to payments equal to: (i)&nbsp;the lesser of (a)&nbsp;one year&#146;s Base Salary (as in effect as of the
date of removal), or (b)&nbsp;the amount of Base Salary that would have been payable to the Executive from the date of removal through the end of the Executive Period, either (a)&nbsp;or (b)&nbsp;payable as follows, (x)&nbsp;a lump sum payment six
months following such removal equal to the lesser of (1)&nbsp;six months of Base Salary or (2)&nbsp;Base </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Salary for the remainder of the Executive Period and (y), if applicable, following such six month period, continued payment of Base Salary (payable in accordance with the Company&#146;s payroll
practice) for the lesser of six months or the remainder of the Executive Period; plus (ii)&nbsp;any Preceding and/or Pro Rata Bonus to which the Executive is entitled (payable not less than six months following such removal from her position; but
otherwise in accordance with Section&nbsp;3.2). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B) During the Transition Period, if the Executive is removed from her position because
of a Disability, the Executive shall be entitled to such compensation and benefits for which she is eligible under the terms of the Company&#146;s plans and policies for employees in effect at that time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.3 <U>Termination for Cause or without Good Reason</U>. If the Executive&#146;s employment shall be terminated during the Executive Period
(A)&nbsp;by the Company for Cause; or (B)&nbsp;by the Executive without Good Reason, the Company shall pay the Executive her Base Salary through the date of termination at the rate then in effect and shall reimburse the Executive for any Expenses
incurred but not yet paid and shall have no further obligations to the Executive under this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.4 <U>Termination without Cause or
with Good Reason</U>. If the Executive&#146;s employment is terminated (A)&nbsp;by the Company without Cause, or (B)&nbsp;by the Executive with Good Reason, the Company shall pay (unless otherwise noted, in the normal course) to the Executive or
provide the following amounts or benefits: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) if the termination occurs during the Executive Period, then to the extent not yet paid,
the Executive&#146;s Base Salary through the date of termination at the rate in effect on the date of termination; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) if the
termination occurs during the Executive Period, then one year&#146;s Base Salary (as in effect as of the date of termination), payable as follows, (x)&nbsp;a lump sum payment six months following such termination equal to six months of Base Salary
and (y)&nbsp;following such six month period, continued payment of Base Salary (payable in accordance with the Company&#146;s payroll practice) for the remaining six months; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) payment of the Preceding and/or Pro Rata Bonus to which the Executive is entitled, payable no earlier than six months following such
termination of employment, but otherwise in accordance with Section&nbsp;3.2; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) any and all stock options that have been granted
to the Executive (that have neither expired nor been previously exercised by the Executive) through the termination date shall be deemed fully vested on such termination date and exercisable for a period of 90 days following such date (but, in no
case, beyond each such option&#146;s specified expiration date), all in accordance with the other terms of any such plan or grant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All payments to be
provided to the Executive under this Section&nbsp;5.4 shall be subject to the Executive&#146;s (x)&nbsp;compliance with the restrictions in Section&nbsp;8 and (y)&nbsp;execution, within sixty (60)&nbsp;days of the Executive&#146;s termination, of a
general release and waiver of claims against the Company, its officers, directors, employees and agents from any and all liability arising from the Executive&#146;s employment relationship with the Company (which release will include an agreement
between both parties not to disparage the other) that is not revoked. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.5 <U>Health Benefit upon Termination of Agreement, other than for Cause or without Good
Reason</U>. Upon termination of the Agreement other than for Cause or without Good Reason (a &#147;Termination Event&#148;), the Executive will be eligible to participate in, to the extent permitted by the plan and at no additional cost to the
Company, a fully insured group health plan then-offered by the Company. If, upon the occurrence of a Termination Event, either: (a)&nbsp;the Executive is not permitted to participate in the Company&#146;s fully insured group health plan; or
(b)&nbsp;the Company no longer offers such a health plan, then the Company shall use reasonable efforts to obtain comparable fully insured health coverage for the Executive under a separate insurance policy; provided, however, that the Company shall
not be obligated to secure coverage for the Executive. At all times, the Full Cost (as defined herein) for such participation or coverage will be paid by the Executive (&#147;Full Cost&#148; shall include all premiums and any increase to the cost of
the Company&#146;s health plan caused by the inclusion of the Executive). Participation by the Executive in such plan or insurance policy may continue until the earliest to occur of: (a)&nbsp;the Executive becomes sixty-five (65)&nbsp;years of age;
(b)&nbsp;the Executive fails to pay the Full Cost for the plan or policy; (c)&nbsp;the Executive becomes eligible to participate in another group health plan; or (d)&nbsp;the fully insured group health plan or insurance policy is no longer being
offered: (i)&nbsp;at no cost to the Company, (ii)&nbsp;on a basis under which the Executive is prepared to pay the Full Cost or (iii)&nbsp;at all. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Change in Control</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.1
In the event of the occurrence of a Change in Control of the Company during the Executive Period, the Executive shall remain employed by the Company, pursuant to the terms and conditions of this Agreement. If, within two (2)&nbsp;years after the
Change in Control and before the end of the Executive Period, (A)&nbsp;the Executive&#146;s employment is terminated without Cause or (B)&nbsp;the Executive resigns following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) a material diminution in her duties as set forth in Section&nbsp;1.2 of this Agreement; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) in the case of the sale of the Company, the Executive either: (a)&nbsp;is not offered a comparable position by the buyer; or (b)&nbsp;is
required by the buyer to be based anywhere beyond fifty (50)&nbsp;miles from the Company&#146;s current offices in Rochester, New York (except for required travel on Company business to an extent substantially consistent with that preceding the
Change in Control), (either (i)&nbsp;or (ii), a &#147;Resignation for Good Cause&#148;), then the Executive shall be entitled to the benefits described in Section&nbsp;6.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.2 Upon a termination without Cause in a Change in Control or a Resignation for Good Cause described in Section&nbsp;6.1 before the end of the
Executive Period, the Executive will receive in one lump sum amount, unless otherwise noted: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A) to the extent not yet paid, the
Executive&#146;s Base Salary through the date of termination at the rate in effect on the date of termination; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B) two year&#146;s Base Salary (as in effect as of the date of such termination or
resignation), payable as follows, (x)&nbsp;a lump sum payment six months following such termination or resignation equal to six months of Base Salary and (y)&nbsp;following such six month period, continued payment of Base Salary (payable in
accordance with the Company&#146;s payroll practice) for the remaining eighteen months; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C) payment of the Preceding and/or Pro Rata
Bonus to which the Executive is entitled, payable not less than six months following such termination of employment, but otherwise in accordance with Section&nbsp;3.2; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(D) any and all stock options that have been granted to the Executive (that have neither expired nor been previously exercised by the
Executive) through the termination date shall be deemed fully vested on such termination date and exercisable for a period of 90 days following such date (but, in no case, beyond each such option&#146;s specified expiration date), all in accordance
with the other terms of any such plan or grant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All payments to be provided to the Executive under this Section shall be subject to the Executive&#146;s
(x)&nbsp;compliance with the restrictions in Section&nbsp;8 and (y)&nbsp;execution, within sixty (60)&nbsp;days of the Executive&#146;s termination, of a general release and waiver of claims against the Company, its officers, directors, employees
and agents from any and all liability arising from the Executive&#146;s employment relationship with the Company (which release will include an agreement between both parties not to disparage the other) that is not revoked. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6.3 For purposes of this Agreement, a &#147;Change in Control&#148; shall mean any of the following: (A)&nbsp;any person who is not an
&#147;affiliate&#148; (as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) of the Company as of the date of this Agreement becomes the beneficial owner, directly or indirectly, of 50% or more of the combined voting power
of the then outstanding securities of the Company except pursuant to a public offering of securities of the Company; (B)&nbsp;the sale of the Company substantially as an entity (whether by sale of stock, sale of assets, merger, consolidation, or
otherwise) to a person who is not an affiliate of the Company as of the date of this Agreement; or (C)&nbsp;there occurs a merger, consolidation or other reorganization of the Company with a person who is not an affiliate of the Company as of the
date of this Agreement, and in which shareholders of the Company immediately preceding the merger hold less than 50% (the voting and consent rights of Class C Preferred Stock shall be disregarded in this calculation) of the combined voting power for
the election of directors of the Company immediately following the merger. For purposes of this Section&nbsp;6.3, the term &#147;person&#148; shall include a legal entity, as well as an individual. A Change in Control shall not be deemed to occur
because of the sale or conversion of any or all of Class C Preferred Stock of the Company unless there is a simultaneous change described in clauses (A), (B)&nbsp;or (C)&nbsp;of the preceding sentence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Compensation and Medical Benefits During Transition Period</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7.1 <U>Compensation</U>. As consideration for services rendered during the Transition Period, the Company shall pay the Executive an hourly
rate to be agreed upon by the Company and the Executive payable not less frequently than monthly. If the Executive&#146;s employment shall be terminated during the Transition Period (A)&nbsp;by the Company for Cause; or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(B) by the Executive without Good Reason, the Company shall pay the Executive for services rendered through the date of termination at the hourly rate then in effect and shall reimburse the
Executive for any Expenses incurred but not yet paid and shall have no further obligations to the Executive under this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7.2
<U>Medical Benefits</U>. During the Transition Period, the Executive may be eligible to participate in, to the extent permitted by the plan and Company policy and at no additional cost to the Company, a fully insured group health plan then-offered
by the Company. If, during the Transition Period and prior to a Termination Event, either: (a)&nbsp;the Executive is not eligible or permitted to participate in the Company&#146;s fully insured group health plan; or (b)&nbsp;the Company no longer
offers such a health plan, then the Company shall use reasonable efforts to obtain comparable fully insured health coverage for the Executive under a separate insurance policy; provided, however, that the Company shall not be obligated to secure
coverage for the Executive. At all times, the Full Cost (as defined in Section&nbsp;5.5) for such participation or coverage will be paid by the Executive. Participation by the Executive in such plan or insurance policy may continue until the
earliest to occur of: (a)&nbsp;the end of the Transition Period; (b)&nbsp;a Termination Event; (c)&nbsp;the Executive fails to pay the Full Cost for the plan or policy; (d)&nbsp;the Executive becomes eligible to participate in another group health
plan; or (e)&nbsp;the fully insured group health plan or insurance policy is no longer being offered: (i)&nbsp;at no cost to the Company, (ii)&nbsp;on a basis under which the Executive is prepared to pay the Full Cost or (iii)&nbsp;at all. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Confidentiality and Covenant against Competition</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.1 <U>Non-Disclosure</U>. The Executive shall forever hold in a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive&#146;s employment by the Company or any of its
affiliated companies and which shall not be public knowledge (other than as a result of a breach of this Section&nbsp;8.1 by the Executive). The Executive shall not, without the prior written consent of the Company or except as required by law or in
a judicial or administrative proceeding with subpoena powers, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.2 <U>Non-Competition</U>. The Executive will not, during the period of the Executive&#146;s employment with the Company, and for a period of
one year thereafter, directly or indirectly, (a)&nbsp;engage in (as a principal, partner, director, officer, stockholder (except as permitted below), agent, employee, consultant or otherwise); or (b)&nbsp;be financially interested in, any entity
materially engaged in any portion of the business of the Company within the territory served, or contemplated to be entered, by the Company on the date of such termination of employment. Nothing contained herein shall prevent the Executive from
owning beneficially or of record not more than five percent (5%)&nbsp;of the outstanding equity securities of any entity whose equity securities are registered under the Securities Act of 1933, as amended, or are listed for trading on any
recognizable United States or foreign stock exchange or market. The business of the Company shall be defined to include the automotive repair/maintenance services and related activities, as well as the sale and service of tires and related
accessories, each of which shall be deemed a portion of the business. Notwithstanding any terms to the contrary in this Section&nbsp;8.2, the Executive&#146;s participation during the Transition Period as a member of the board
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of directors of a retail parts company shall not be considered a violation of this Section&nbsp;8.2; provided that, at such time, the Executive Committee of the Board of Directors of the Company
determines the retail parts company not to be a direct competitor of the Company and either: (i)&nbsp;its business, as then-conducted; or (ii)&nbsp;any known prospective business of the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.3 <U>Non-Solicitation of Employees</U>. The Executive will not, during the period of the Executive&#146;s employment with the Company, and
for a period of one year after the termination of the Executive&#146;s employment with the Company for any reason, directly or indirectly, recruit, solicit or otherwise induce or attempt to induce any employee of the Company to leave the employment
of the Company, nor hire any such employee at any enterprise with which the Executive is then affiliated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.4 <U>Enforceability of
Provisions</U>. If any restriction set forth in this Section&nbsp;8 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a
geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable, it being understood and agreed that by the execution of this Agreement, the parties
hereto regard the restrictions herein as reasonable and compatible with their respective rights. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">8.5 <U>Remedy for Breach</U>. The
Executive hereby acknowledges that the provisions of this Section&nbsp;8 are reasonable and necessary for the protection of the Company and its respective subsidiaries and affiliates. In addition, the Executive further acknowledges that the Company
and its respective subsidiaries and affiliates will be irrevocably damaged if such covenants are not specifically enforced. Accordingly, the Executive agrees that, in addition to any other relief to which the Company may be entitled, the Company
will be entitled to seek and obtain injunctive relief (without the requirement of any bond) from a court of competent jurisdiction for the purposes of restraining the Executive from an actual or threatened breach of such covenants. In addition, and
without limiting the Company&#146;s other remedies, in the event of any breach by the Executive of such covenants, the Company will have no obligation to pay any of the amounts that remain payable by the Company in Sections 5 and 6 of this
Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">9. <U>Executive&#146;s Representations</U>. The Executive represents that she is not precluded from performing this employment
by reason of a pre-existing contractual restriction or physical or mental disability. Upon any breach or inaccuracy of the foregoing, the terms and benefits of this Agreement shall be null and void. The Executive shall indemnify and hold harmless
the Company from and against any and all claims, liabilities, damages and reasonable costs of defense and investigation arising out of any breach or inaccuracy in any of the foregoing representations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Other Provisions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.1 <U>Withholdings</U>. The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be
required to be withheld pursuant to any applicable law or regulation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.2 <U>Notices</U>. Any notice or other communication required or which may be given hereunder
shall be in writing and shall be delivered personally, telecopied, or sent by certified, registered or express mail, postage prepaid, to the parties at the following addresses or at such other addresses as shall be specified by the parties by like
notice, and shall be deemed given when so delivered personally, telecopied or if mailed, two days after the date of mailing, as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">if to the Company, to it at: </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Monro Muffler Brake, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">200 Holleder Parkway </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Rochester, New York 14615 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Attention: Chief Executive Officer </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">with a copy to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Monro Muffler
Brake, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">200 Holleder Parkway </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Rochester, New York 14615 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Attention: General Counsel </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">if to the Executive, to her at: </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">25 Vineyard Hill </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">Fairport, New York 14450 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.3
<U>Entire Agreement</U>. This Agreement, together with the Bonus Plan and the agreements evidencing the Option, contains the entire understanding of the Company and the Executive with respect to the subject matter hereof. Upon the Effective Date,
this Agreement shall supersede and replace the existing employment agreement by and between the Company and the Executive, dated December&nbsp;20, 2010, which agreement shall be of no further force or effect if and when this Agreement becomes
effective. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.4 <U>Waivers and Amendments</U>. This Agreement may not be amended or modified otherwise than by a written agreement
executed by the parties hereto or their respective successors and legal representatives. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of
any party of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.5 <U>Governing Law; Jurisdiction</U>. This Agreement shall be governed by and construed and enforced in accordance with and subject to, the
laws of the State of New York applicable to agreements made and to be performed entirely within such state. The courts of New York and the United States District Courts for New York shall have jurisdiction over the parties with respect to any
dispute or controversy between them arising under or in connection with this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.6 <U>Assignment</U>. This Agreement shall inure to the benefit of and shall be binding upon
the Company and its successors. This Agreement is personal to the Executive and shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. The Company will require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. As used in this Agreement, &#147;Company&#148; shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to
perform this Agreement by operation of law, or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.7 <U>Headings</U>. The headings in this Agreement are for reference purposes
only and shall not in any way affect the meaning or interpretation of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.8 <U>Severability</U>. If any term, provision,
covenant or restriction of this Agreement, or any part thereof, is held by a court of competent jurisdiction of any foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority to be
invalid, void, unenforceable or against public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">10.9 <U>Section&nbsp;409A</U>. The compensation and benefits provided under this Agreement are intended to qualify for an
exemption from or to comply with the requirements of Section&nbsp;409A of the Code and the treasury regulations and other official guidance issued thereunder (collectively, &#147;Section 409A&#148;), so as to prevent the inclusion in gross income of
any compensation or benefits accrued hereunder in a taxable year prior to the taxable year or years in which such amount would otherwise be actually distributed or made available to the Executive, and this Agreement shall be administered and
interpreted consistent with such intention. For purposes of Sections 4, 5 and 6 of this Agreement, &#147;removal,&#148; &#147;termination of the Executive&#146;s employment&#148; and words of similar import mean a &#147;separation from service&#148;
with the Company as defined by Section&nbsp;409A. The reimbursement of taxable expenses such as contemplated in Sections 3.5 and 3.7 to the Executive shall be made no later than the end of the year following the year in which the expense was
incurred, and the expenses reimbursed in one year shall not affect the expenses eligible for reimbursement in any other year. Where the sixty (60)&nbsp;day period for the Executive to execute and not revoke a general release and waiver begins in one
calendar year and ends in the following calendar year, payment shall be made no sooner than the first day of the following calendar year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Rest of page intentionally left blank] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have executed this Employment Agreement on the date first above
written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">MONRO MUFFLER BRAKE, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ John W. Van Heel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">John W. Van Heel, Chief Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">/s/ Catherine D&#146;Amico</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">Catherine D&#146;Amico</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

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