Exhibit 10.2

JOINDER AGREEMENT

THIS JOINDER AGREEMENT (this “Joinder Agreement”), dated as of November 28,
2016, is by and between DFBG SWIMS, LLC, a Delaware limited liability company
(the “New Borrower”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”),
as lender under that certain Credit and Security Agreement (as the same may be
amended, amended and restated, modified, extended or supplemented from time to
time, the “Credit Agreement”) dated as of January 28, 2016 by and among RG
PARENT LLC (the “Administrative Borrower”), the other borrowers from time to
time party thereto (together with the Administrative Borrower, the “Borrowers”),
the Guarantors from time to time party thereto, and the Lender.  All of the
defined terms in the Credit Agreement are incorporated herein by reference.

The New Borrower has indicated its desire to become a Borrower pursuant to the
terms of the Credit Agreement.

Accordingly the New Borrower and Lender hereby agree as follows:

1. The New Borrower hereby acknowledges, agrees and confirms that, by its
execution of this Joinder Agreement, the New Borrower will be deemed to be a
party to the Credit Agreement and a “Borrower” for all purposes of the Credit
Agreement and the other Loan Documents, and shall have all of the obligations of
a Borrower thereunder as if it has executed the Credit Agreement and the other
Loan Documents.  The New Borrower hereby ratifies, as of the date hereof, and
agrees to be bound by, all of the terms, provisions and conditions contained in
the Credit Agreement and in the Loan Documents, including without limitation
(i) all of the representations and warranties set forth in Section 5 of the
Credit Agreement, (ii) all of the affirmative covenants set forth in Section 6
of the Credit Agreement, and (iii) all of the negative covenants set forth in
Section 7 of the Credit Agreement.

2. Without limiting the generality of the foregoing, the New Borrower hereby
grants, assigns, and pledges to Lender, to secure payment and performance of the
Obligations, a continuing Lien and security interest in and to all of New
Borrower’s right, title, and interest in and to the Collateral.  New Borrower
authorizes Lender at any time and from time to time to file, transmit, or
communicate, as applicable, financing statements and amendments (i) describing
the Collateral as “all assets of debtor, whether now owned or hereafter acquired
or arising and wheresoever located” or words of similar meaning, (ii) describing
the Collateral as being of equal or lesser scope or with greater detail, or
(iii) that contain any information required by Part 5 of Article 9 of the Code
for the sufficiency or filing office acceptance of such financing statement.

3. The New Borrower acknowledges and confirms that it has received a copy of the
Credit Agreement and the schedules and exhibits thereto.  The schedules to the
Credit Agreement are amended to provide the information shown on the attached
Schedule A.

4. The New Borrower confirms that all of the Obligations under the Credit
Agreement, upon the New Borrower becoming a Borrower will and shall continue to
be, in full force and effect and that immediately upon the New Borrower becoming
a Borrower, the term “Obligations”, as used in the Credit Agreement, shall
include all Obligations of such New Borrower under the Credit Agreement and
under each other Loan Document.

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5. The New Borrower agrees that at any time and from time to time, upon the
reasonable request of the Lender, it will execute and deliver such further
documents and do such further acts and things as the Lender may reasonably
request in order to effect the purposes of this Joinder Agreement.

6. This Joinder Agreement may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall
constitute one contract.

7. THIS JOINDER AGREEMENT 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 JOINDER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY
SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS
PRINCIPLES THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW).

[Signature Pages Follow]

 

 

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IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to
be duly executed by its authorized officers as of the day and year first above
written.

DFBG SWIMS, LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: Manager

WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/ Eric Ackman 

Name: Eric Ackman

Title: SVP

ACKNOWLEDGED AND AGREED:

Borrowers:

DIFFERENTIAL BRANDS GROUP INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

DBG SUBSIDIARY INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

HUDSON CLOTHING, LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: Chairman

Signature Page to Joinder Agreement

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RG PARENT LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

ROBERT GRAHAM RETAIL LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

ROBERT GRAHAM DESIGNS, LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

ROBERT GRAHAM HOLDINGS, LLC

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

 

Guarantors:

HUDSON CLOTHING HOLDINGS, INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: Chairman

HC ACQUISITION HOLDINGS, INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: Chairman

INNOVO WEST SALES, INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

Signature Page to Joinder Agreement

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DBG HOLDINGS SUBSIDIARY INC.

By: /s/ Michael Buckley 

Name: Michael Buckley

Title: CEO

 

 

Signature Page to Joinder Agreement

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SCHEDULE A
to
Joinder Agreement

 

Additions to Information Certificate Schedules

 

Schedule 5.1(c):

 

a.

Loan Party / Subsidiary

Authorized Shares / Issued Shares

Holder

Type of Rights / Stock

 

(common / preferred / option / class)

Number of Shares (after exercise of all rights to acquire)

Percent Interest (on a fully diluted basis)

DFBG Swims, LLC

None

Differential Brands Group Inc.

Membership interest

None

100%

SWIMS AS

Share capital of NOK 1,186,050, divided into 23,721 shares, each with a nominal
value of NOK 50

DFBG Swims, LLC

Common

23,721

100%

 

d.  DFBG Swims, LLC, a Delaware limited liability company

 

Schedule 5.6(a):

The exact legal name is DFBG Swims, LLC, and the jurisdiction of organization is
Delaware.

 

Schedule 5.6(b):

The Chief Executive Office of DFBG Swims, LLC is located at 1231 S. Gerhart
Ave., Commerce, CA  90022.

 

Schedule 5.6(c):

The EIN for DFBG Swims, LLC is 81-3228035.

 

Schedule 5.15(a):

Borrower:  DFBG Swims, LLC

Name of Bank: Wells Fargo Bank

Address of Bank:  420 Montgomery St., San Francisco, CA. 94104

ABA Number: 

Account Name: 

Account Number:     

 

Schedule D-1

Borrower:  DFBG Swims, LLC

Name of Bank: Wells Fargo Bank

Address of Bank:  420 Montgomery St., San Francisco, CA. 94104

ABA Number: 

Account Name: 

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Account Number:     

 

Schedule A-2 to the Credit Agreement:

Andrew Tarshis, Michael Buckley and William Sweedler are the managers, and Jake
Brandman is the president, of DFBG Swims, LLC.

 

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