Exhibit 10.1

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

AMENDMENT NO. 1 dated as of May 17, 2005 (this “Amendment No. 1”) to the Fifth
Amended and Restated Credit Agreement dated as of April 9, 1997 and amended and
restated as of May 19, 2004 (as in effect immediately prior to effectiveness of
this Amendment No. 1, the “Credit Agreement”) among FOOT LOCKER, INC. (the
“Company”), the SUBSIDIARIES party thereto, the BANKS party thereto, THE BANK OF
NEW YORK, as Administrative Agent, LC Agent and Swingline Bank (the
“Administrative Agent”), the CO-SYNDICATION AGENTS AND CO-DOCUMENTATION AGENTS
party thereto and the JOINT LEAD ARRANGERS party thereto.

WHEREAS, the parties hereto desire to amend the Credit Agreement as set forth
herein;

NOW, THEREFORE, the parties hereto agree as follows:

SECTION 1.    Defined Terms; References. Unless otherwise specifically defined
herein, each term used herein which is defined in the Credit Agreement has the
meaning assigned to such term in the Credit Agreement. Each reference to
“hereof,” “hereunder,” “herein” and “hereby” and each other similar reference
and each reference to “this Agreement” and each other similar reference
contained in the Credit Agreement shall, after the Amendment No. 1 Effective
Date (as defined in Section 5 below), refer to the Credit Agreement as amended
hereby.

SECTION 2.    Pricing Schedule Amendment. The Pricing Schedule attached to the
Credit Agreement (the “Existing Pricing Schedule”) is deleted and replaced with
the Pricing Schedule attached to this Amendment No. 1 (the “New Pricing
Schedule”). The New Pricing Schedule shall apply to interest and fees accruing
under the Credit Agreement on and after May 17, 2005. The Existing Pricing
Schedule shall continue to apply to interest and fees accruing under the Credit
Agreement prior to May 17, 2005.

SECTION 3.    Representation and Warranties. The Company and each other Obligor
represents and warrants that, on and as of the Amendment No. 1 Effective Date,
(a) the representations and warranties of the Obligors contained in the Loan
Documents are true and (b) no Default has occurred and is continuing.

SECTION 4.    Governing Law. This Amendment No. 1 shall be governed by and
construed in accordance with the laws of the State of New York.

SECTION 5.    Counterparts; Effectiveness. This Amendment No. 1 may be signed in
any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.
This Amendment No. 1 shall become effective as of the date (the “Amendment No. 1
Effective Date”) of receipt by the Administrative Agent of:

 

 

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(a) a counterpart hereof signed by each of the Company, the Subsidiary
Borrowers, the LC Agent, the Swingline Bank and the Banks (or a facsimile or
other written confirmation (in form satisfactory to the Administrative Agent)
that each such party has signed a counterpart hereof); and

 

(b) a certificate from the chief executive officer, chief financial officer or
treasurer of the Company certifying as to the matters set forth in Section 3 of
this Amendment No. 1. [Signature pages follow]

 

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be
duly executed as of the date first above written.

 

  FOOT LOCKER, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President – Investor
Relations and Treasurer

 

 

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Each of the Subsidiary Borrowers listed below hereby consents to Amendment No. 1
and agrees to be a party to, and be bound by, the Credit Agreement as amended by
Amendment No. 1.

 

  FOOTLOCKER.COM, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

 

 

  FOOT LOCKER RETAIL, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

  TEAM EDITION APPAREL, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

  FOOT LOCKER STORES, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

  FOOT LOCKER SPECIALTY, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

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  FOOT LOCKER EUROPE B.V.      

By:

/s/ Peter D. Brown

 

 

Title:

Attorney-in-Fact

  FOOT LOCKER AUSTRALIA, INC.      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

  FOOT LOCKER CANADA
   CORPORATION      

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

 

 

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  THE BANK OF NEW YORK, as
   Administrative Agent, LC Agent,
   Swingline Bank and Bank        

By:

/s/ Randolph E. J. Medrano

 

 

Title:

Vice President

 

 

 

 

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BANK OF AMERICA, N.A., successor
   by merger to Bank of America
   National Trust and Savings
   Association)        

By:

/s/ Dan M. Killian

 

 

Title:

Senior Vice President

 

 

 

  JPMORGAN CHASE BANK, N.A.
  (formerly known as JPMorgan Chase
  Bank)        

By:

/s/ Paul Phelan

 

 

Title:

Vice President

  WACHOVIA BANK, NATIONAL
  ASSOCIATION (formerly known as
  First Union National Bank)        

By:

/s/ Susan T. Gallagher

 

 

Title:

Vice President

  WELLS FARGO BANK, NATIONAL
  ASSOCIATION        

By:

/s/ Bradley A. Hardy

 

 

Title:

Senior Vice President

  U.S. BANK NATIONAL
  ASSOCIATION (formerly Firstar
  Bank, N.A.)        

By:

/s/ Ken Ziebart

 

 

Title:

Banking Officer

 

 

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  THE BANK OF NOVA SCOTIA        

By:

/s/ Todd Meller

 

 

Title:

Managing Director

  BANCO POPULAR PUERTO RICO        

By:

/s/ Hector J. Gonzalez

 

 

Title:

Vice President

 

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Acknowledged and consented to by:

 

  EASTBAY, INC.
FOOTLOCKER.COM, INC.
FOOT LOCKER AUSTRALIA, INC.
FOOT LOCKER STORES, INC.
ROBBY’S SPORTING GOODS, INC.
TEAM EDITION APPAREL, INC.
FOOT LOCKER CORPORATE SERVICES, INC.
FOOT LOCKER HOLDINGS, INC.
FOOT LOCKER RETAIL, INC.
FOOT LOCKER SOURCING, INC.
FOOT LOCKER SPECIALTY, INC.
FOOT LOCKER INVESTMENTS,  LLC
FOOT LOCKER OPERATIONS, LLC
FOOT LOCKER NEW ZEALAND, INC.
FL EUROPE HOLDINGS, INC.
FL SPECIALTY OPERATIONS LLC
FL RETAIL OPERATIONS LLC
FOOT LOCKER CANADA CORPORATION
RETAIL COMPANY OF GERMANY, INC.        

By:

/s/ Peter D. Brown

 

 

Title:

Vice President and
Treasurer

 

 

 

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PRICING SCHEDULE

The “Euro-Dollar Margin”, “LC Fee Rate” and “Facility Fee Rate” for any day are
the respective percentages per annum set forth in the table below in the
applicable row under the column corresponding to the Pricing Level that applies
on such day:

 

Pricing Level

Level I

Level II

Level III

Level IV

Level V

Level VI

Level VII

Committed
Revolver Loan
Euro-Dollar
Margin and LC
Fee Rate

0.725%

0.825%

0.875%

0.875%

0.875%

0.875%

0.875%

Facility Fee Rate

0.150%

0.175%

0.250%

0.375%

0.500%

0.625%

0.750%

Term Loan Euro-
Dollar Margin

0.875%

1.000%

1.125%

1.250%

1.375%

1.500%

1.625%

 

“Base Rate Margin” means, on any day, (i) the Euro-Dollar Margin for such day
minus (ii) 1.00%.

For purposes of this Schedule, the following terms have the following meanings:

“Fixed Charge Coverage Ratio” means, as of any day, the ratio, at the last day
of the most recently ended Fiscal Quarter for which financial statements have
been delivered in accordance with the Agreement, of (i) the sum of EBIT plus 1/3
of Annual Rent Expense, in each case for the four consecutive Fiscal Quarters
then ended, to (ii) the sum of Interest Expense plus 1/3 of Annual Rent Expense,
in each case for the same four consecutive Fiscal Quarters; provided that during
any period when financial statements have not been delivered in accordance with
the Agreement, the Fixed Charge Coverage Ratio shall be deemed to be less than
1.75:1.

“Level I Pricing” applies on any day on which the Fixed Charge Coverage Ratio is
greater than 3.00:1.

“Level II Pricing” applies on any day on which the Fixed Charge Coverage Ratio
is greater than or equal to 2.75:1 and Level I Pricing does not apply.

“Level III Pricing” applies on any day on which the Fixed Charge Coverage Ratio
is greater than or equal to 2.50:1 and neither Level I Pricing nor Level II
Pricing applies.

“Level IV Pricing” applies on any day on which the Fixed Charge Coverage Ratio
is greater than or equal to 2.25:1 and none of Level I Pricing, Level II Pricing
or Level III Pricing applies.

“Level V Pricing” applies on any day on which the Fixed Charge Coverage Ratio is
greater than or equal to 2.00:1 and none of Level I Pricing, Level II Pricing,
Level III Pricing or Level IV Pricing applies.

 

 

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“Level VI Pricing” applies on any day on which the Fixed Charge Coverage Ratio
is greater than or equal to 1.75:1 and none of Level I Pricing, Level II
Pricing, Level III Pricing, Level IV Pricing or Level V Pricing applies.

“Level VII Pricing” applies on any day on which no other Pricing Level applies.

“Pricing Level” refers to the determination of which of Level I Pricing, Level
II Pricing, Level III Pricing, Level IV Pricing, Level V Pricing, Level VI
Pricing or Level VII Pricing applies on any day.

  

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