Exhibit 10.1

EXECUTION COPY

FIRST AMENDMENT TO CREDIT AGREEMENT
This First Amendment to Credit Agreement (this “Amendment”) is made as of this
29th day of August, 2013, by and among:
SEARS AUTHORIZED HOMETOWN STORES, LLC, a Delaware limited liability company, for
itself and as agent (in such capacity, the “Lead Borrower”) for the other
Borrowers party hereto;
the BORROWERS party hereto;
the GUARANTORS party hereto;
the LENDERS party hereto; and
BANK OF AMERICA, N.A., as Agent, Swing Line Lender and L/C Issuer;
in consideration of the mutual covenants herein contained and benefits to be
derived herefrom.

W I T N E S S E T H:
WHEREAS, reference is made to that certain Credit Agreement, dated as of October
11, 2012 (as amended, amended and restated, modified, supplemented or restated
and in effect from time to time, the “Credit Agreement”), by and among (i) the
Borrowers, (ii) the Guarantors, (iii) the Lenders party thereto (the “Lenders”),
and (iv) Bank of America, N.A., as Agent, Swing Line Lender and L/C Issuer; and
WHEREAS, the parties hereto have agreed to amend certain provisions of the
Credit Agreement as set forth herein.
NOW, THEREFORE, it is hereby agreed as follows:
1.
Definitions. All capitalized terms used herein and not otherwise defined shall
have the same meaning herein as in the Credit Agreement.

2.
Amendment to Article VII of Credit Agreement. The provisions of Section 7.06 of
the Credit Agreement are hereby amended by deleting the phrase “following the
first anniversary of the Closing Date,” from clause (d) thereof.

3.
Ratification of Loan Documents. Except as otherwise expressly provided herein,
all terms and conditions of the Credit Agreement and the other Loan Documents
remain in full force and effect. The Loan Parties hereby ratify, confirm, and
reaffirm that all representations and warranties of the Loan Parties contained
in the Credit Agreement or any other Loan Document are true and correct in all
material respects on and as of the date hereof, except (i) to the extent that
such representations and warranties specifically refer to an earlier date, in
which case they are true and correct in all material respects as of such earlier
date, and (ii) in the case of any representation and warranty qualified by
materiality, in which case

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they are true and correct in all respects. The Guarantors hereby acknowledge,
confirm and agree that the Guaranteed Obligations of the Guarantors under, and
as defined in, the Guaranty and Security Agreement include, without limitation,
all Obligations of the Borrowers at any time and from time to time outstanding
under the Credit Agreement and the other Loan Documents, as such Obligations
have been amended pursuant to this Amendment. The Loan Parties hereby
acknowledge, confirm and agree that the Security Documents and any and all
Collateral previously pledged to the Agent, for the benefit of the Credit
Parties, pursuant thereto, shall continue to secure all Secured Obligations (as
defined in the Guaranty and Security Agreement) at any time and from time to
time outstanding under the Credit Agreement and the other Loan Documents.
4.
Conditions to Effectiveness. This Amendment shall not be effective until each of
the following conditions precedent has been fulfilled to the reasonable
satisfaction of the Agent:

(a)
The Agent shall have received counterparts of this Amendment duly executed and
delivered by each of the parties hereto.

(b)
All corporate or other organizational action on the part of the Loan Parties
necessary for the valid execution, delivery and performance by the Loan Parties
of this Amendment shall have been duly and effectively taken and evidence
thereof reasonably satisfactory to the Agent shall have been provided to the
Agent.

(c)
All outstanding Credit Party Expenses (including, without limitation, in respect
of the preparation, negotiation, administration, management, execution and
delivery of this Amendment and any related documents, instruments and
agreements), to the extent invoiced to the Lead Borrower, shall have been paid.

(d)
No Default or Event of Default shall have occurred and be continuing.

(e)
The Agent shall have received such additional documents, instruments, and
agreements as any Agent may have reasonably requested prior to the date hereof
in connection with the transactions contemplated hereby.

5.
Representations and Warranties. The Parent and the Borrowers, on behalf of each
Loan Party, represent and warrant to the Agent, the L/C Issuer and the Lenders
that:

(a)
The execution, delivery and performance by each Loan Party of this Amendment and
the other Loan Documents executed in connection herewith and the performance of
each Loan Party’s obligations hereunder and thereunder have been duly authorized
by all necessary corporate or other organizational action, do not and shall not:
(i) contravene the terms of any of such Person's Organization Documents; (ii)
conflict with or result in any breach, termination, or contravention of, or
constitute a default under, or require any payment to be made under (x) any
Material Contract or any Material Indebtedness to which such Person is a party,
or (y) any order, injunction, writ or decree of any Governmental Authority or
any arbitral award to which such Person or its property is subject; (iii) result
in or require the creation of any Lien

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upon any asset of any Loan Party (other than Liens in favor of the Agent under
the Security Documents and Liens permitted by Section 7.01 of the Credit
Agreement); or (iv) violate any Law.
(b)
No approval, consent, exemption, authorization, or other action by, or notice
to, or filing with, any Governmental Authority or any other Person is necessary
or required in connection with the execution, delivery or performance by, or
enforcement against, any Loan Party of this Amendment or any other Loan Document
executed in connection herewith to which it is a party, except for such as have
been obtained or made and are in full force and effect.

(c)
No Default or Event of Default has occurred and is continuing.

6.
Miscellaneous.

(a)
This Amendment may be executed in several counterparts and by each party on a
separate counterpart, each of which when so executed and delivered shall be an
original, and all of which together shall constitute one instrument. Delivery of
an executed counterpart of a signature page to this Amendment by telecopy or
other electronic transmission shall be effective as delivery of a manually
executed counterpart of this Amendment.

(b)
This Amendment may be executed in counterparts (and by different parties hereto
in different counterparts), each of which shall constitute an original, but all
of which when taken together shall constitute a single contract. This Amendment
and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter
hereof. Delivery of an executed counterpart of a signature page of this
Amendment by telecopy, pdf or other electronic transmission shall be as
effective as delivery of a manually executed counterpart of this Amendment.

(c)
If any provision of this Amendment is held to be illegal, invalid or
unenforceable, (a) the legality, validity and enforceability of the remaining
provisions of this Amendment shall not be affected or impaired thereby and (b)
the parties shall endeavor in good faith negotiations to replace the illegal,
invalid or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the illegal, invalid or
unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

(d)
The Loan Parties represent and warrant that they have consulted with independent
legal counsel of their selection in connection with this Amendment and are not
relying on any representations or warranties of the Agent or the Lenders or
their counsel in entering into this Amendment.

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(e)
THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER
IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS
AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties have hereunto caused this Amendment to be
executed and their seals to be hereto affixed as of the date first above
written.

SEARS AUTHORIZED HOMETOWN STORES, LLC, as Lead Borrower and as a Borrower

By:    /s/ Steven D. Barnhart
Name:    Steven D. Barnhart
Title:    Senior Vice President and Treasurer

SEARS HOME APPLIANCE SHOWROOMS, LLC, as a Borrower

By:    /s/ Steven D. Barnhart
Name:    Steven D. Barnhart
Title:
Senior Vice President, Chief Financial Officer and Treasurer

SEARS OUTLET STORES, L.L.C., as a Borrower

By:    /s/ Steven D. Barnhart
Name:    Steven D. Barnhart
Title:    Senior Vice President and Treasurer

SEARS HOMETOWN AND OUTLET STORES, INC., as Parent and as a Guarantor

By:    /s/ Steven D. Barnhart
Name:    Steven D. Barnhart
Title:
Senior Vice President and Chief Financial Officer

Signature Page to First Amendment to Credit Agreement

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TROY COOLIDGE NO. 6, LLC., as a Guarantor

By:    Sears Outlet Stores, L.L.C., its sole member

By:    /s/ Steven D. Barnhart
Name:    Steven D. Barnhart
Title:    Senior Vice President and Treasurer

Signature Page to First Amendment to Credit Agreement

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BANK OF AMERICA, N.A., as Agent, L/C Issuer, Swing Line Lender and as a Lender

By:     /s/ Brian Lindblom
Name: Brian Lindblom
Title:     Vice President

Signature Page to First Amendment to Credit Agreement

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CIT FINANCE LLC, as a Lender

By:     /s/ Renee Singer
Name: Renee Singer
Title:     Managing Director

Signature Page to First Amendment to Credit Agreement

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SIEMENS FINANCIAL SERVICES, INC., as a Lender

By:     /s/ Sharon Prusakonski
Name: Sharon Prusakonski
Title:     V.P.

By:     /s/ Maria Levy
Name: Maria Levy
Title:     V.P.

Signature Page to First Amendment to Credit Agreement

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SOVEREIGN BANK N.A., as a Lender

By:     /s/ Gilbert Torres
Name: Gilbert Torres
Title:     Senior Vice President

Signature Page to First Amendment to Credit Agreement

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CAPITAL ONE LEVERAGE FINANCE CORP., as a Lender

By:     /s/ Michael S. Burns
Name: Michael S. Burns
Title:     Senior Vice President

Signature Page to First Amendment to Credit Agreement

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KEYBANK NATIONAL ASSOCIATION, as a Lender

By:     /s/ Andrew Blickensderfer
Name: Andrew Blickensderfer
Title:     Assistant Vice President

Signature Page to First Amendment to Credit Agreement

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PEOPLE’S UNITED BANK, as a Lender

By:     /s/ Paul E. Flynn
Name: Paul E. Flynn
Title:     EVP

Signature Page to First Amendment to Credit Agreement

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BARCLAYS BANK PLC, as a Lender

By:     /s/ Ronnie Glenn
Name: Ronnie Glenn
Title:     Vice President

Signature Page to First Amendment to Credit Agreement