**EXHIBIT 10(a)**

**[LONATI S.p.A LETTERHEAD]**

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Speizman Industries, Inc.701 Griffith RoadCharlotte, NC  28217USA

Brescia, December 3rd, 2001

# **AGENCY AGREEMENT**

By this Agency Agreement made on December 3rd 2001 by and between LONATIS.p.A., Via S. Polo nr 11, 25123 – Brescia (Italy) and Messrs. SPEIZMAN INDUSTRIES INC., 701 Griffith Road, Charlotte,NC  28217 – USA.

LONATI hereby appoints Messrs. SPEIZMAN INDUSTRIES, INC., who accept, as the Agent on asolely basis of present range of LONATI machines for the territory of MEXICO.

This contract will start on today, January 1st, 2002.

SPEIZMAN INDUSTRIES, INC. will not act either directly or by means of a third party forany other firm in competition with LONATI.  This obligation is extended, for SPEIZMAN INDUSTRIES, INC. only, for the 3 (three)following months on the expiration date of this Agreement.

SPEIZMAN INDUSTRIES, INC. will arrange, at his own expense, an efficient salesorganization and technical service in order to ensure LONATI to maintain a competitive position in the contractual territory,either among customers or potential customers.

SPEIZMAN INDUSTRIES, INC. will do his best to get customers to pay on time.

**SPARE PARTS SERVICE:**

SPEIZMAN INDUSTRIES, INC. engage himself to establish at his own expenses a stock of spareparts in such a quantity as to satisfy the customer’s demand.

Payment of relevant invoices will be effected by a 60-days-draft from invoicedate.

**TECHNICAL SERVICE:**

SPEIZMAN INDUSTRIES, INC. will set up a proper technical service, consisting of at leastone experienced technician on men’s sock machines, from the date the contract comes into force.

 

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When necessary, LONATI will send their own technicians, whose expenses will be covered bySPEIZMAN INDUSTRIES, INC.  Should technicians be provided by SPEIZMAN INDUSTRIES, INC., than expenses pertained thereto willbe at the customer’s charge.

SPEIZMAN INDUSTRIES, INC. engage himself to give our technicians, sent for working in thecontractual territory, all the necessary assistance (local transportation, translation assistance and all they need in order tofulfil their task in the best way).

**TRIAL MACHINES:**

LONATI will deliver trial machines to customers who really show interest to buysome.  Condition will be the following:

- Freight charge from Lonati’s plant – Brescia – to customer’s plant: to be covered by LONATI.
- Freight charge if the machines return to LONATI: to be covered by SPEIZMAN INDUSTRIES, INC.
- However, the machinery should be sent back within 90 days from the delivery date, special written agreements excepted.

**INSTALLATION:**

The installation of both the sold and the trial machines has to be carried out by SPEIZMANINDUSTRIES, INC.’s technicians.  If necessary, LONATI will send its technicians, and in this case, SPEIZMAN INDUSTRIES,INC. will have to pay both for the living expenses, daily pocket money and for the travel expenses.  

**PARTICIPATION TO TEXTILE FAIR (ITMA EXCEPTED) OR PRIVATE SHOWS, TO BE DECIDEDBETWEEN LONATI AND THE AGENT:**

The cost for the rent of the installation of show rooms and the preparation of the same aswell as the cost of SPEIZMAN INDUSTRIES, INC.’s technicians will be at Agent’s charge, while the ones referring to theshipment of machines and the sending of LONATI technicians will be at LONATI’s charge.

The sold machinery will be invoiced directly to the customers accordingly to the currentprice list.

However, LONATI reserve themselves the right to modify the prices as a consequence oftheir own costs or of their own commercial and market’s policy.  Sales contracts signed by SPEIZMAN INDUSTRIES, INC. donot engage LONATI until a written order confirmation has been reconfirmed and signed by LONATI.

**COMMISSIONS:**

LONATI will pay SPEIZMAN INDUSTRIES, INC. a commission rate of 12.5% on the sales of allLONATI machines.  This commission includes the installation of the machines from the part

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of Speizman’stechnicians.  **It is understood that if LONATI have to reduce the selling price of the machines, your commission will bereduced accordingly.**

Said commission will be calculated on ex-works Lonati plant basis and on the amount of theinvoices, net of any price discounts given to the customers (deduct any duty, taxes, packing, etc.)

Commissions will be paid out every three (3) months and only on the amounts that LONATIwill have really collected during this period of three (3) months.

In case of reduction of the prices to the customers or of the sales made directly byLONATI to the customers, the commission rate will be discussed in advance between LONATI and SPEIZMAN INDUSTRIES, INC., case bycase.

The present Agency Agreement will expire on December 31, 2002 and will be automaticallyrenewed year by year if none of the contractual parties will send a written notice (registered letter), at least 1 (one) monthbefore the expiring date.

During this month, LONATI maintained the right to appoint a new Agent for the samecontractual territory, who can begin negotiations and visit customers in order to prevent LONATI from a solution of continuity asfar as the relationship of LONATI with the contractual market and the customers is concerned.

For any possible controversy, the contracting parties declare they will acknowledge thejurisdiction of Brescia law-court.

*/s/ Robert S.Speizman*                                    */s/ E.Lonati*                                                     Robert S.Speizman                                         E. Lonati

(TheAgent)                                                     (Lonati S.p.A.

 

 

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