Amendment to Employment Agreement, dated September 24, 2020, with Michael P. Huseby

EX-10.1 2 exhibit101mphamendment.htm EX-10.1 HUSEBY EMPLOYMENT AMENDMENT Document

Exhibit 10.1

BARNES & NOBLE EDUCATION, INC.

120 Mountainview Boulevard

Basking Ridge, New Jersey 07920

September 24, 2020

Mr. Michael P. Huseby

Barnes & Noble Education, Inc.

750 Third Avenue, 6^th Floor

New York, NY 10017

Dear Mr. Huseby:

This amendment (the “Amendment”) amends the employment agreement (the “Agreement”) between you and Barnes & Noble Education, Inc. (the “Company”) dated July 19, 2017. This Amendment is effective as of November 1, 2020.

1. The first sentence of Section 2 of the Agreement is amended to read as follows: “The initial term of this Agreement shall continue until September 19, 2022 or, if earlier, the termination of your employment in accordance with the provisions set forth below (the “Initial Term”).”

2. The last sentence of Section 3.2 of the Agreement is amended to read as follows: “Your target bonus for each fiscal year of the Company shall be 125% of the Annual Base Salary.”

3. Section 3.9(a)(ii) of the Agreement is amended to read as follows: “your target annual bonus for the year of termination”.

4. Section 3.10(a)(y) of the Agreement is amended to read as follows: “your target annual bonus for the year of termination (or, if higher, as in effect immediately prior to the Change of Control)”.

5. Except as amended hereby, the Agreement remains in full force and effect.

If the foregoing accurately reflects our agreement, kindly sign and return to us the enclosed duplicate copy of this Amendment.

Very truly yours,

BARNES & NOBLE EDUCATION, INC.

By: /s/ John R. Ryan

Name: John R. Ryan

Title: Lead Independent Director

Accepted and Agreed to:

MICHAEL P. HUSEBY

By: /s/ Michael P. Huseby

Name: Michael P. Huseby

Date: September 24, 2020