Exhibit 10.19

 

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AMENDMENT NO. 4 TO LOAN AGREEMENT

 

This Amendment No. 4 (the “Amendment”) dated as of December 9, 2004 is between
Bank of America, N.A. (the “Bank”) and K-Swiss Inc. (the “Borrower”).

 

RECITALS

 

A. The Bank and the Borrower entered into a certain Business Loan Agreement
dated as of July 1, 2001 (together with any previous amendments, the
“Agreement”).

 

B. The Bank and the Borrower desire to amend the Agreement.

 

AGREEMENT

 

1. Definitions. Capitalized terms used but not defined in this Amendment shall
have the meaning given to them in the Agreement.

 

2. Amendments. The Agreement is hereby amended as follows:

 

  (a) In subparagraph number 1.6(a)(i), the phrase “180 days beyond the
Expiration Date” is changed to “365 days beyond the Expiration Date.”

 

  (b) In subparagraph 1.6(a)(ii), the phrase “but not to extend more than 365
days beyond the Expiration Date” is added at the end of the sentence.

 

3. Representations and Warranties. When the Borrower signs this Amendment, the
Borrower represents and warrants to the Bank that: (a) there is no event which
is, or with notice or lapse of time or both would be, a default under the
Agreement except those events, if any, that have been disclosed in writing to
the Bank or waived in writing by the Bank, (b) the representations and
warranties in the Agreement are true as of the date of this Amendment as if made
on the date of this Amendment, (c) this Amendment does not conflict with any
law, agreement, or obligation by which the Borrower is bound, and (d) this
Amendment is within the Borrower’s powers, has been duly authorized, and does
not conflict with any of the Borrower’s organizational papers.

 

4. Effect of Amendment. Except as provided in this Amendment, all of the terms
and conditions of the Agreement shall remain in full force and effect.

 

5. Counterparts. This Amendment may be executed in counterparts, each of which
when so executed shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument.

 

6. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES
THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN PARTIES WITH
RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY
COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS
RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET
OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE
CONTRARY, (C) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND
(D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.

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This Amendment is executed as of the date stated at the beginning of this
Amendment.

 

Borrower:   Bank: K-Swiss Inc.   Bank of America, N.A. By:  

/s/ George Powlick

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  By:  

/s/ M. Pastor

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George Powlick,

Vice President & Director

      Authorized Signer

 

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