Exhibit No. 10(c)

FIRST AMENDMENT
This FIRST AMENDMENT dated as of January 27, 2016 (this “Amendment”) amends the
Sixth Amended and Restated Credit Agreement dated as of June 11, 2013 (the
“Credit Agreement”) among REGIS CORPORATION, a Minnesota corporation (the
“Company”), various financial institutions and JPMORGAN CHASE BANK, N.A., as
Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized
terms used but not defined herein have the respective meanings given to them in
the Credit Agreement.
WHEREAS, the Company has requested that the Credit Agreement be amended as set
forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1.AMENDMENTS. Subject to the conditions precedent set forth in
Section 3, the Credit Agreement is amended as follows:
1.1    Amendments to Section 1.01. Section 1.01 is amended as follows:
(a)    The definition of “Change of Control” is amended by deleting the
reference therein to “25%” and replacing it with “40%”.
(b)    The definition of “L/C Commitment” is amended by deleting the reference
therein to “$50,000,000” and replacing it with “$30,000,000 (which amount may be
increased to up to $50,000,000 upon written request by the Company, subject to
the prior written consent of the Administrative Agent in its sole discretion)”.
(c)    The definition of “Swing Line Commitment” is amended by adding the
following at the end of such definition immediately before the period: “;
provided that, notwithstanding the foregoing or any other provision of this
Agreement, the making of each Swing Line Loan shall be, in addition to any other
specific conditions to borrowing set forth in this Agreement, subject to the
approval of the Swing Line Lender in its sole discretion”.
1.2    Amendment to Section 2.05. Section 2.05(a) is amended by deleting the
phrase “the Swing Line Lender agrees to make Swing Line Loans to the Company” in
the first sentence thereof and replacing it with “the Swing Line Lender may in
its sole discretion make Swing Line Loans to the Company”.
1.3    Amendment to Section 8.17. Section 8.17(d) is amended by deleting the
reference to “$25,000,000” therein and replacing it with “$50,000,000”.
1.4    Amendment to Schedule 2.01. Schedule 2.01 is amended and restated in its
entirety to read as set forth in Schedule 2.01 hereto.
SECTION 2.    Representations and Warranties. The Company represents and
warrants to the Administrative Agent and the Lenders that as of the date of
effectiveness of this Amendment

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(and after giving effect to such effectiveness): (a) the representations and
warranties of the Company set forth in the Credit Agreement are true and correct
in all material respects (except to the extent stated to relate to an earlier
date, in which case such representations and warranties were true and correct in
all material respects as of such earlier date); and (b) no Default or Event of
Default exists.
SECTION 3.    CONDITIONS PRECEDENT. This Amendment shall become effective on the
date on which the Administrative Agent has received the following:
(a)    Counterparts of this Amendment signed by the Company and the Required
Lenders.
(b)    A Confirmation substantially in the form of Exhibit A signed by each Loan
Party.
(c)     A work fee of $3,500 for each Lender that, on or prior to 5:00 p.m.
(Chicago time) on January 26, 2016, delivers a signed counterpart of this
Amendment to the Administrative Agent.
(d)    Payment of all invoiced fees and expenses of the Administrative Agent
(including reasonable attorneys’ fees and expenses).
SECTION 4.    MISCELLANEOUS.
4.1    Indenture Amendment. Notwithstanding Section 1.3, until the Company
delivers written evidence to the Administrative Agent that the basket set forth
in Section 4.07(b)(15) of the Company’s Indenture dated as of December 1, 2015
(or in any corresponding provision of any indenture or other agreement
refinancing or replacing such Indenture) has been increased to at least
$50,000,000, or such Indenture (and any indenture or other agreement refinancing
or replacing such Indenture) has been fully terminated, defeased, satisfied or
discharged, the basket set forth in Section 8.17(d) of the Credit Agreement
shall be deemed to equal $31,250,000 (or, if applicable, any lesser amount then
set forth in such Section 4.07(b)(15) (or in any corresponding provision of such
other indenture or agreement)).
4.2    Expenses. The Company agrees to pay all reasonable and documented
out-of-pocket expenses incurred by the Administrative Agent (including the
reasonable and documented fees, charges and disbursements of counsel for the
Administrative Agent) in connection with this Amendment and the transactions
contemplated hereby.
4.3    Incorporation of Credit Agreement Provisions. The provisions of Sections
1.02 (Other Interpretive Provisions), 11.14 (Severability) and 11.17 (Waiver of
Jury Trial) of the Credit Agreement are incorporated by reference as if fully
set forth herein, mutatis mutandis.
4.4    Signing in Counterparts. This Amendment may be signed by the parties
hereto in several counterparts, each of which shall be deemed to be an original
and all of which shall constitute together but one and the same agreement. A
signature hereto delivered by facsimile or in .pdf format shall be effective as
delivery of an original counterpart.

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4.5    Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS.
4.6    Successors and Assigns. This Amendment shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted
assigns.
4.7    Effect of Amendment. Except as expressly set forth herein, this Amendment
shall not (a) limit, impair, constitute a waiver of or otherwise affect the
rights and remedies of the Lenders or the Administrative Agent under the Credit
Agreement or any other Loan Document or (b) alter, modify or amend any term or
condition set forth in the Credit Agreement or any other Loan Document.
4.8    FATCA. From and after the effective date of this Amendment, the Company
shall indemnify the Administrative Agent, and hold it harmless from, any and all
losses, claims, damages, liabilities and related expenses, including Taxes and
the fees, charges and disbursements of any counsel for any of the foregoing,
arising in connection with the Administrative Agent’s treating, for purposes of
determining withholding Taxes imposed under FATCA, the Credit Agreement (as
amended by this Amendment) as qualifying as a “grandfathered obligation” within
the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be signed
by their respective officers thereunto duly authorized as of the day and year
first above written.
 
REGIS CORPORATION
 
 
 
 
 
 
By:
/s/ Steven Spiegel
 
 
Name:
Steven Spiegel
 
 
Title:
Chief Financial Officer
 

        

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JPMORGAN CHASE BANK, N.A.,
 
 
as Administrative Agent, as an Issuer, as Swing
 
 
Line Lender and as a Lender
 
 
 
 
 
 
By:
/s/ Krys Szremski
 
 
Title:
Vice President
 

 

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BANK OF AMERICA, N.A.,
 
 
as Syndication Agent, as an Issuer and as a
 
 
Lender
 
 
 
 
 
 
By:
/s/ Brian Tower
 
 
Title:
Officer    
 

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THE BANK OF TOKYO-MITSUBISHI UFJ,
 
 
LTD., as a Lender
 
 
 
 
 
 
By:
/s/ Thomas Danielson    
 
 
Name:
Thomas Danielson
 
 
Title:
Authorized Signatory
 

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U.S. BANK NATIONAL ASSOCIATION, as a
 
 
Lender
 
 
 
 
 
 
By:
/s/ Ludmila Yakovlev
 
 
Title:
V.P.
 

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WELLS FARGO BANK, NATIONAL
 
 
ASSOCIATION, as a Lender

 
 
 
 
 
 
 
/s/ Mark H. Halldorson
 
 
By:
Mark H. Halldorson
 
 
Title:
Director
 

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FIFTH THIRD BANK, as a Lender

 
 
 
 
 
 
By:
/s/ Gary Losey
 
 
Title:
VP Corporate Banking
 

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PNC BANK, NATIONAL ASSOCIATION, as
 
 
a Lender
 
 
 
 
 
 
By:
/s/ Philip K. Liebscher    
 
 
Name:
Philip K. Liebscher
 
 
Title:
Senior Vice President
 

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BANK OF THE WEST, as a Lender

 
 
 
 
 
 
By:
/s/ David Wang
 
 
Title:
Director
 

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SCHEDULE 2.01
COMMITMENTS AND PRO RATA SHARES

 
 
 
Lenders
Commitment
Pro Rata Share
JPMorgan Chase Bank, N.A.
$37,000,000
18.50%
Bank of America, N.A.
$37,000,000
18.50%
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
$26,500,000
13.25%
U.S. Bank National Association
$26,500,000
13.25%
Wells Fargo Bank, N.A.
$26,500,000
13.25%
Fifth Third Bank
$21,500,000
10.75%
PNC Bank, National Association
$15,000,000
7.50%
Bank of the West
$10,000,000
5.00%
TOTAL
$200,000,000
100.00%

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EXHIBIT A

FORM OF CONFIRMATION

January 27, 2016

To:    JPMorgan Chase Bank, N.A., individually and as Administrative
Agent, and the other financial institutions that are
parties to the Credit Agreement referred to below

Please refer to the First Amendment dated as of the date hereof (the
“Amendment”) to the Sixth Amended and Restated Credit Agreement dated as of June
11, 2013 (the “Credit Agreement”) among Regis Corporation, a Minnesota
corporation, various financial institutions and JPMorgan Chase Bank, N.A., as
Administrative Agent. Capitalized terms used but not otherwise defined herein
have the respective meanings given to them in the Credit Agreement.
Each of the undersigned hereby confirms to the Administrative Agent and the
Lenders that such undersigned has received a copy of the Amendment and that,
after giving effect to the Amendment and the transactions contemplated thereby,
each Loan Document to which such undersigned is a party continues in full force
and effect and is the legal, valid and binding obligation of such undersigned,
enforceable against such undersigned in accordance with its terms.    
 
REGIS CORPORATION
 
 
REGIS INC.

 
 
SUPERCUTS CORPORATE SHOPS, INC.
 
 
SUPERCUTS, INC.
 
 
THE BARBERS, HAIRSTYLING FOR MEN
 
 
   & WOMEN, INC.
 
 
REGIS CORP.
 
 
 
 
 
 
By:
 
 
 
Name:
 
 
 
Title:
 
 

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CONFIRMATION

January 27, 2016

To:    JPMorgan Chase Bank, N.A., individually and as Administrative
Agent, and the other financial institutions that are
parties to the Credit Agreement referred to below

Please refer to the First Amendment dated as of the date hereof (the
“Amendment”) to the Sixth Amended and Restated Credit Agreement dated as of June
11, 2013 (the “Credit Agreement”) among Regis Corporation, a Minnesota
corporation, various financial institutions and JPMorgan Chase Bank, N.A., as
Administrative Agent. Capitalized terms used but not otherwise defined herein
have the respective meanings given to them in the Credit Agreement.
Each of the undersigned hereby confirms to the Administrative Agent and the
Lenders that such undersigned has received a copy of the Amendment and that,
after giving effect to the Amendment and the transactions contemplated thereby,
each Loan Document to which such undersigned is a party continues in full force
and effect and is the legal, valid and binding obligation of such undersigned,
enforceable against such undersigned in accordance with its terms.    
 
REGIS CORPORATION
 
 
REGIS INC.
 
 
SUPERCUTS CORPORATE SHOPS, INC.
 
 
SUPERCUTS, INC.
 
 
THE BARBERS, HAIRSTYLING FOR MEN
 
 
   & WOMEN, INC.
 
 
REGIS CORP.
 
 
 
 
 
 
By:
/s/ Steven Spiegel
 
 
Name:
Steven Spiegel
 
 
Title:
Chief Financial Officer