Exhibit 10.15
          THIS GLOBAL AMENDMENT AGREEMENT (this “Global Amendment”) is dated 29
September 2009 and made among each of the undersigned (collectively the “Parties
”).
          WHEREAS, certain of the Parties entered into a Facilities Agreement
dated 31 July 2009 (as amended on 25 September 2009) (the “Facilities
Agreement”);
          WHEREAS, certain of the Parties entered into a Security Sharing
Agreement dated 25 September 2009 (the “Security Sharing Agreement”);
          WHEREAS, certain of the Parties entered into a Subordination Agreement
dated 25 September 2009 (the “Subordination Agreement”);
          WHEREAS, the Parties hereto desire to amend (i) the Security Sharing
Agreement in accordance with clause 22.1 (Amendments) thereof and (ii) each
other relevant Finance Document as specified in accordance with clause 38
(Amendments and Waivers) of the Facilities Agreement in the manner set out
below.
          NOW, THEREFORE, IT IS AGREED:
          Unless a contrary intention appears in this Global Amendment, any word
or expression defined in the Facilities Agreement, the Subordination Agreement
or the Security Sharing Agreement (as applicable) shall have the same meaning
when it is used in this Global Amendment.
          The Parties hereby acknowledge that as a result of a technical error
(“erreur matérielle”) the SG Forward Financing Agreement is incorrectly referred
to in the Security Sharing Agreement as having been executed on 25
September 2009 while it was the intention of the parties thereto to execute the
SG Forward Financing Agreement on 29 September 2009.
          The Parties hereby recognize that such technical error (“erreur
matérielle”) does not affect in any manner whatsoever the validity and binding
nature of the Security Sharing Agreement or any of its provisions and the
Parties thereto hereby confirm that the Security Sharing Agreement is in effect
as from the date of its execution (i.e., 25 September 2009).
          Each Party hereby acknowledges that it has received a copy of the SG
Forward Financing Agreement and confirms that it is satisfactory to it.
          The Parties to the Security Sharing Agreement hereby further agree
that the Security Sharing Agreement is hereby amended by deleting the definition
of “SG Forward Financing Agreement” appearing in clause 1.1 (Definitions) of the
Security Sharing Agreement and inserting the following definition in lieu
thereof:
““SG Forward Financing Agreement” means the term loan agreement to be entered
into on 29 September 2009 among the SG Financing Debtor as borrower, Parent as
guarantor, Biarritz Holdings S.à r.l. as guarantor and Société Générale as
lender.”.

 

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          The Parties hereby agree that any reference to the SG Forward
Financing Agreement in any Finance Document shall be deemed to be a reference to
the SG Forward Financing Agreement as defined above, and each such Finance
Document is hereby amended accordingly.
          This Global Amendment is a Finance Document pursuant to the Facilities
Agreement.
          This Global Amendment is governed by French law.
          This Global Amendment has been duly executed in Paris in as many
originals as there are parties to this agreement on the date first above
written.

 

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SIGNATURES

     
 
  PILOT SAS, as the Company, Borrower Original Guarantor, Original Obligor,
Account Holder, Original Intra-Group Debtor and Original Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  NA PALI SAS, as Borrower, Original Obligor, Account Holder, Original
Intra-Group Debtor and Original Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  QUIKSILVER, INC., as Original Guarantor, Original Obligor, Parent and Original
Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  QS HOLDINGS S.À R.L., as Additional Guarantor, Original Obligor and Original
Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  BIARRITZ HOLDINGS S.À R.L., as Additional Guarantor, Original Obligor,
Original Intra-Group Debtor and Original Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:

 

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  QUIKSILVER EUROPA S.L., as Additional Guarantor, Original Obligor, Original
Intra-Group Debtor and Original Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  QS FINANCE LUXEMBOURG S.A., as SG Financing Debtor, Original Intra-Group
Debtor and Original Subordinated Creditor
 
   
 
  By:
 
   
 
  Title:
 
   
 
  EMERALD COAST SAS, as Account Holder
 
   
 
  By:
 
   
 
  Title:
 
   
 
  OMAREEF EUROPE SAS, as Account Holder
 
   
 
  By:
 
   
 
  Title:

 

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  BNP PARIBAS, as Arranger, Agent, Original Lender and Original Ancillary Lender
 
   
 
  By:
 
   
 
  Title:

 

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  CREDIT LYONNAIS, as Arranger and Original Lender
 
   
 
  By:
 
   
 
  Title:

 

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  SOCIETE GENERALE CORPORATE & INVESTMENT BANKING, as Arranger
 
   
 
  By:
 
   
 
  Title:

 

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  SOCIETE GENERALE, as Security Agent, SG Creditor and Original Lender
 
   
 
  By:
 
   
 
  Title:

 

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  SOCIETE GENERALE BANK & TRUST, as SG Creditor
 
   
 
  By:
 
   
 
  Title:

 

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  BANQUE POPULAIRE DU SUD OUEST, as Original Lender
 
   
 
  By:
 
   
 
  Title:

 

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  CAISSE REGIONALE DE CRÉDIT AGRICOLE MUTUEL PYRÉNÉES-GASCOGNE, as Original
Lender and Issuing Bank
 
   
 
  By:
 
   
 
  Title:

 

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  CIC — SOCIETE BORDELAISE, as Original Lender
 
   
 
  By:
 
   
 
  Title:

 

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  HSBC FRANCE, as Original Lender
 
   
 
  By:
 
   
 
  Title:

 

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  NATIXIS, as Original Lender
 
   
 
  By:
 
   
 
  Title: