Document:

First Amendment dated February 9, 2007 to the Second Amended and Restated Credit
      and Guaranty Agreement dated May 25, 2006

     

    SIMMONS
      BEDDING COMPANY

     

    FIRST
      AMENDMENT TO SECOND AMENDED AND RESTATED

     

    CREDIT
      AND GUARANTY AGREEMENT

     

    THIS
      FIRST AMENDMENT
      (this
“Amendment”)
      dated
      as of February 9, 2007 to the SECOND
      AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT
      dated as
      of May 25, 2006 (the “Credit
      Agreement”)
      is
      entered into by and among SIMMONS
      BEDDING COMPANY (formerly
      known as Simmons Company), a Delaware corporation (“Company”),
      THL-SC
      BEDDING COMPANY,
      a
      Delaware corporation (“Holdings”),
      CERTAIN SUBSIDIARIES OF COMPANY PARTY HERETO,
      as
      Credit Support Parties, GOLDMAN SACHS CREDIT PARTNERS L.P.,
      sole
      bookrunner, Lead Arranger and Syndication Agent, CERTAIN FINANCIAL INSTITUTIONS LISTED ON THE SIGNATURE PAGES HERETO,
      and
DEUTSCHE
      BANK AG, NEW YORK BRANCH, as
      Administrative Agent.
      Capitalized terms used herein without definition shall have the same meanings
      herein as set forth in the Credit Agreement and in the amendments contained
      in
      Section 1 hereof.

     

    RECITALS

     

    

     

    WHEREAS,
      Company
      and Requisite Lenders desire to amend the Credit Agreement as set forth
      below.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and the agreements, provisions and covenants
      herein contained, the parties hereto agree as follows:

     

    SECTION
      1.  AMENDMENTS
      TO CREDIT AGREEMENT

     

    Section
      1
      of the Credit Agreement is herby amended as follows: 

     

    (a)
      The
      definition of “Parent” is hereby deleted and replaced in its entirety as
      follows:

     

    “Parent”
means
      Simmons Company (formerly known as THL Bedding Holding Company), a Delaware
      corporation, or any direct or indirect parent thereof.

    

     

    (b)
      The
      definition of “Parent Notes” is hereby deleted and replaced in its entirety as
      follows:

     

    “Parent
      Notes”
means
      those certain (i) 10% Senior Discount Notes due 2014 issued by Parent pursuant
      to that certain Indenture dated as of December 15, 2004 by and between Parent
      and Wells Fargo Bank, National Association, as Trustee, and (ii) the loans
      made
      under that certain Credit Agreement dated as of February [ ], 2007 by and among
      Simmons Holdco, Inc., the lenders from time to time party thereto, and Deutsche
      Bank Trust Company Americas, as administrative agent, in each case, as such
      notes, Indenture, loans and Credit Agreement may be amended, restated,
      supplemented or otherwise modified from time to time.

    

     

    SECTION
      2.  CONDITIONS
      TO EFFECTIVENESS

     

    This
      Amendment shall become effective only upon the satisfaction or waiver of all
      of
      the following conditions precedent (the date of satisfaction of such conditions
      being referred to herein as the “First
      Amendment Effective Date”):

     

    1.  Execution.
      Credit
      Parties and Requisite Lenders shall have executed this Amendment.

     

    2.  Fees.
      The
      Agents shall have received all expenses and other amounts due and payable on
      or
      prior to the First Amendment Effective Date, including, to the extent invoiced
      at least two days prior to the First Amendment Effective Date, reimbursement
      or
      other payment of all out-of-pocket expenses required to be reimbursed or paid
      by
      the Company hereunder or under any other Credit Document.

     

    SECTION
      3.  BORROWER’S
      REPRESENTATIONS AND WARRANTIES

     

    In
      order
      to induce Lenders to enter into this Amendment and to amend the Credit Agreement
      in the manner provided herein, the Company represents and warrants to each
      Lender that the following statements are true, correct and complete in all
      material respects:

     

    1.  Corporate
      Power and Authority.
      Each
      Credit Party which is party hereto has all requisite corporate or other
      organizational power and authority to enter into this Amendment and to carry
      out
      the transactions contemplated by, and perform its obligations under, the Credit
      Agreement as amended by this Amendment (the “Amended
      Agreement”).

     

    2.  Authorization
      of Agreements.
      The
      execution and delivery of this Amendment and the performance of the Amended
      Agreement have been duly authorized by all necessary corporate or other
      organizational action on the part of each Credit Party.

     

    3.  No
      Conflict.
      The
      execution and delivery by each Credit Party of this Amendment and the
      performance by each Credit Party of the Amended Agreement do not and will not
      (i) violate or conflict with (A) any provision of any law, governmental rule
      or
      regulation applicable to Holdings or any of its Subsidiaries, or of the
      certificate or articles of incorporation or partnership agreement, other
      constitutive documents or by-laws of Holdings or any of its Subsidiaries or
      (B)
      any applicable order, judgment or decree of any court or other agency of
      government binding on Holdings or any of its Subsidiaries, (ii) be in conflict
      with, result in a breach of or constitute (alone or with notice or lapse of
      time
      or both) a default under any Contractual Obligation of Holdings or any of its
      Subsidiaries, except where any such conflict, violation, breach or default
      referred to in clause (i) or (ii) of this Section 3, could not reasonably be
      expected to have a Material Adverse Effect, (iii) result in or require the
      creation or imposition of any Lien upon any of the properties or assets of
      each
      Credit Party (other than any Liens created under any of the Credit Documents
      in
      favor of Administrative Agent on behalf of Lenders), or (iv) require any
      approval of stockholders or partners or any approval or consent of any Person
      under any Contractual Obligation of each Credit Party, except for such approvals
      or consents which will be obtained on or before the First Amendment Effective
      Date or the failure of which to obtain would not reasonably be expected to
      have
      a Material Adverse Effect.

     

    4.  Governmental
      Consents.
      No
      consent or approval of, registration or filing with or any other action by
      any
      federal, state or other governmental authority or regulatory body is or will
      be
      required in connection with the execution and delivery by each Credit Party
      of
      this Amendment and the performance by Company and Holdings of the Amended
      Agreement, except for such actions, consents and approvals the failure to obtain
      or make could not reasonably be expected to result in a Material Adverse Effect
      or which have been obtained and are in full force and effect.

     

    5.  Binding
      Obligation.
      This
      Amendment and the Amended Agreement have been duly executed and delivered by
      each of the Credit Parties party thereto and each constitutes a legal, valid
      and
      binding obligation of such Credit Party to the extent a party thereto
      enforceable against such Credit Party in accordance with its terms, except
      as
      enforceability may be limited by bankruptcy, insolvency, moratorium,
      reorganization or other similar laws affecting creditors’ rights generally and
      except as enforceability may be limited by general principles of equity
      (regardless of whether such enforceability is considered in a proceeding in
      equity or at law).

     

    6.  Incorporation
      of Representations and Warranties From Credit Agreement.
      The
      representations and warranties contained in Section 4 of the Amended Agreement
      are and will be true, correct and complete in all material respects on and
      as of
      the First Amendment Effective Date to the same extent as though made on and
      as
      of that date, except to the extent such representations and warranties
      specifically relate to an earlier date, in which case they were true, correct
      and complete in all material respects on and as of such earlier
      date.

     

    7.  Absence
      of Default.
      After
      giving effect to this Amendment, no event has occurred and is continuing that
      would constitute an Event of Default or a Default.

     

    SECTION
      4.  ACKNOWLEDGMENT
      AND CONSENT

     

    Each
      of
      the Credit Parties set forth on the signature pages hereto are collectively
      referred to herein as the “Credit
      Support Parties”,
      and the
      Credit Documents to which they are a party are collectively referred to herein
      as the “Credit
      Support Documents”.

     

    Each
      of
      the Company and the Credit Support Parties hereby acknowledges that it has
      reviewed the terms and provisions of the Credit Agreement and this Amendment
      and
      consents to the amendment of the Credit Agreement effected pursuant to this
      Amendment. Each of the Company and the Credit Support Parties hereby confirms
      that each Credit Support Document to which it is a party or otherwise bound
      and
      all Collateral encumbered thereby will continue to guarantee or secure, as
      the
      case may be, to the fullest extent possible in accordance with the Credit
      Support Documents the payment and performance of all “Obligations” under each of
      the Credit Support Documents to which is a party (in each case as such terms
      are
      defined in the applicable Credit Support Document).

     

    Each
      of
      the Company and the Credit Support Parties acknowledges and agrees that any
      of
      the Credit Support Documents to which it is a party or otherwise bound shall
      continue in full force and effect and that all of its obligations thereunder
      shall be valid and enforceable and shall not be impaired or limited by the
      execution or effectiveness of this Amendment. Each of the Company and the Credit
      Support Parties represents and warrants that all representations and warranties
      contained in the Amended Agreement and the Credit Support Documents to which
      it
      is a party or otherwise bound are true, correct and complete in all material
      respects on and as of the First Amendment Effective Date to the same extent
      as
      though made on and as of that date, except to the extent such representations
      and warranties specifically relate to an earlier date, in which case they were
      true, correct and complete in all material respects on and as of such earlier
      date.

     

    Each
      of
      the Company and the Credit Support Parties acknowledges and agrees that (i)
      notwithstanding the conditions to effectiveness set forth in this Amendment,
      each such Credit Support Party is not required by the terms of the Credit
      Agreement or any other Credit Support Document to consent to the amendments
      to
      the Credit Agreement effected pursuant to this Amendment and (ii) nothing in
      the
      Credit Agreement, this Amendment or any other Credit Support Document shall
      be
      deemed to require the consent of any of the Company and each such Credit Support
      Party to any future amendments to the Credit Agreement.

     

    SECTION
      5.  MISCELLANEOUS

     

    1.  Reference
      to and Effect on the Credit Agreement and the Credit Documents. 

     

    (1) On
      and
      after the First Amendment Effective Date, each reference in the Credit Agreement
      to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import
      referring to the Credit Agreement, and each reference in the other Credit
      Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like
      import referring to the Credit Agreement shall mean and be a reference to the
      Credit Agreement as amended by this Amendment.

     

    (2) Except
      as
      specifically amended by this Amendment, the Credit Agreement and the other
      Credit Documents shall remain in full force and effect and are hereby ratified
      and confirmed.

     

    (3) The
      execution, delivery and performance of this Amendment shall not, except as
      expressly provided herein, constitute a waiver of any provision of, or operate
      as a waiver of any right, power or remedy of any Agent or Lender under, the
      Credit Agreement or any of the other Credit Documents.

     

    2.  Headings.
      Section
      and Subsection headings in this Amendment are included herein for convenience
      of
      reference only and shall not constitute a part of this Amendment for any other
      purpose or be given any substantive effect.

     

    3.  Applicable
      Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
      SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH,
      THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING WITHOUT LIMITATION SECTION
      5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW
      YORK).

     

    4.  Counterparts.
      This
      Amendment may be executed in any number of counterparts and by different parties
      hereto in separate counterparts (including by means of facsimile), each of
      which
      when so executed and delivered shall be deemed an original, but all such
      counterparts together shall constitute but one and the same instrument;
      signature pages may be detached from multiple separate counterparts and attached
      to a single counterpart so that all signature pages are physically attached
      to
      the same document.

     

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    IN
      WITNESS WHEREOF,
      the
      parties hereto have caused this Amendment to be duly executed and delivered
      by
      their respective officers thereunto duly authorized as of the date first written
      above.

    

    

    
      	
              BORROWER:

            	
              SIMMONS
                BEDDING COMPANY

            
	 	 
	 	 
	 	
              By: 
                /s/  William S. Creekmuir      

            
	 	
              Name: 
                William S. Creekmuir

              Title: 
                Executive Vice President and Chief Financial Officer

            
	 	 
	 	 
	
              HOLDINGS:

            	
              THL-SC
                BEDDING COMPANY

            
	 	 
	 	 
	 	
              By: 
                /s/  William S. Creekmuir       

            
	 	
              Name: 
                William S. Creekmuir

              Title: 
                Executive Vice President and Chief Financial Officer

            
	 	 

    

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	 
	
              CREDIT
                SUPPORT PARTIES:

            	
              THE
                SIMMONS MANUFACTURING CO., LLC

              WORLD
                OF SLEEP OUTLETS, LLC

              SIMMONS
                CONTRACT SALES, LLC

              (for
                purposes of Section 4 only) as a Credit Support Party

            
	 	 
	 	 
	 	
              By:  /s/ 
                William S. Creekmuir       

            
	 	
              Name: 
                William. S. Creekmuir

              Title: 
                Executive Vice President and Chief Financial Officer

            
	 	 

    

     

    
 

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              WINDSOR
                BEDDING CO., LLC

              (for
                purposes of Section 4 only) as a Credit Support Party

            
	 	 
	 	 
	 	
              By:  /s/ 
                William S. Creekmuir       

            
	 	
              Name: 
                William S. Creekmuir

              Title: 
                Executive Vice President and Chief Financial
                Officer

            

    

    

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              DREAMWELL,
                LTD.

              SIMMONS
                CAPITAL MANAGEMENT, LLC

              (for
                purposes of Section 4 only) as a Credit Support Party

            
	 	 
	 	
              By: 
                /s/  David A. Liskow       

            
	 	
              Name: 
                David A. Liskow

              Title: 
                Secretary and Controller

            
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

    

    

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              LENDERS
                AND AGENTS

            	
              GOLDMAN
                SACHS CREDIT PARTNERS L.P.,

              individually,
                as sole bookrunner, Lead Arranger, Syndication Agent and as
                Lender

            
	 	 
	 	
              By: 
                /s/  Elizabeth Fischer       

            
	 	
              Name: 
                Elizabeth Fischer

              Title: 
                

              Authorized
                Signatory

            
	 	 

    

    

    
      
         

         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              DEUTSHE
                BANK AG,

              NEW
                YORK BRANCH,

              as
                Administrative Agent 

            
	 	 
	 	
              By: 
                /s/  Evelyn Thierry       

            
	 	
              Name: 
                Evelyn Thierry

              Title: 
                Vice President

            
	 	 
	 	
              By: 
                /s/  Scottye Lindsey       

            
	 	
              Name: 
                Scottye Lindsey

              Title: 
                Director

            
	 	 
	 	 
	 	
              DEUTSHE
                BANK AG,

              CAYMAN
                ISLANDS BRANCH,

              individually,
                as a Lender 

            
	 	 
	 	
              By: 
                /s/  Evelyn Thierry       

            
	 	
              Name: 
                Evelyn Thierry

              Title: 
                Vice President

            
	 	 
	 	
              By: 
                /s/  Scottye Lindsey       

            
	 	
              Name: 
                Scottye Lindsey

              Title: 
                DirectorThe Merger Agreement dated February 7, 2007 by and among Simmons Holdco, Inc.,
      Simmons Merger Company, and Simmons Company

    AGREEMENT
      AND PLAN OF MERGER

     

    This
      AGREEMENT AND PLAN OF MERGER, is entered into as of February 7, 2007 (this
      “Agreement”), by and among Simmons Holdco, Inc., a Delaware corporation
      (“Parent”), Simmons Merger Company, a Delaware corporation and a wholly-owned
      subsidiary of Parent (“Merger Sub”), and Simmons Company, a Delaware corporation
      (the “Company”). 

     

    WHEREAS,
      the respective Boards of Directors of the Company and Merger Sub have approved
      and declared advisable, and the Board of Directors of Parent has approved,
      this
      Agreement and the merger of Merger Sub with and into the Company (the “Merger”),
      on the terms and subject to the conditions provided for in this
      Agreement;

     

    WHEREAS,
      Parent, the Company and the Company’s shareholders intend for the Merger to be
      treated as an exchange that is governed, in part, by Section 351 of the Internal
      Revenue Code of 1986, as amended (the “Code”); and 

     

    WHEREAS,
      the respective shareholders of the Company and Merger Sub have approved this
      Agreement and the Merger, on the terms and subject to the conditions provided
      for in this Agreement.

     

    NOW,
      THEREFORE, in consideration of the representations, warranties, covenants and
      agreements contained in this Agreement, and intending to be legally bound
      hereby, Parent, Merger Sub and the Company hereby agree as follows:

     

    ARTICLE
      I  

     

    

     

    The
      Merger

     

    SECTION
      1.1.  The
      Merger.
      Upon
      the terms and subject to the conditions set forth in this Agreement, and in
      accordance with the General Corporation Law of the State of Delaware (the
“DGCL”), at the Effective Time (as defined below) Merger Sub shall be merged
      with and into the Company, and the separate corporate existence of Merger Sub
      shall thereupon cease, and the Company shall be the surviving corporation in
      the
      Merger (the “Surviving Corporation”).

     

    SECTION
      1.2.  Effective
      Time.
      On a
      date to be mutually agreed upon by the parties (the “Closing Date”), the parties
      shall file with the Secretary of State of the State of Delaware a certificate
      of
      merger, executed in accordance with the relevant provisions of the DGCL (the
      “Certificate of Merger”). The Merger shall become effective upon the filing of
      the Certificate of Merger (the time at which the Merger becomes effective is
      herein referred to as the “Effective Time”).

     

    SECTION
      1.3.  Effects
      of the Merger.
      The
      Merger shall have the effects set forth in the DGCL. Without limiting the
      generality of the foregoing, and subject thereto, at the Effective Time, all
      the
      properties, rights, privileges, powers and franchises of the Company and Merger
      Sub shall vest in the Surviving Corporation, and all debts, liabilities and
      duties of the Company and Merger Sub shall become the debts, liabilities and
      duties of the Surviving Corporation.

     

    SECTION
      1.4.  Certificate
      of Incorporation and By-laws of the Surviving Corporation. 

     

    (a)  The
      certificate of incorporation of the Company, as amended and restated in the
      form
      attached hereto as Exhibit
      A,
      shall
      be the certificate of incorporation of the Surviving Corporation until
      thereafter amended as provided therein or by applicable law. 

     

    (b)  The
      by-laws of the Company, as in effect immediately prior to the Effective Time,
      shall be the by-laws of the Surviving Corporation until thereafter amended
      as
      provided therein or by applicable law.

     

    SECTION
      1.5.  Directors
      and Officers of the Surviving Corporation.

     

    (a)  The
      directors of the Company immediately prior to the Effective Time shall continue
      to be the directors of the Surviving Corporation immediately following the
      Effective Time, until their respective successors are duly elected or appointed
      and qualified or their earlier death, resignation or removal in accordance
      with
      the certificate of incorporation and by-laws of the Surviving
      Corporation.

     

    (b)  The
      officers of the Company immediately prior to the Effective Time shall continue
      to be the officers of the Surviving Corporation until their respective
      successors are duly appointed and qualified or their earlier death, resignation
      or removal in accordance with the certificate of incorporation and by-laws
      of
      the Surviving Corporation.

     

    ARTICLE
      II  

     

    

     

    Effect
      of the Merger on the Capital Stock of the

     

    Constituent
      Corporations; Exchange of Certificates; Company Stock Options

     

    SECTION
      2.1.  Effect
      on Capital Stock.
      At the
      Effective Time, by virtue of the Merger and without any action on the part
      of
      the holder of any shares of Class A common stock, par value $0.01 per share,
      of
      the Company (“Class A Common Stock”), or any shares of Class B common stock, par
      value $0.01 per share, of the Company (“Class B Common Stock”, and collectively
      with the Class A Common Stock, the “Company Common Stock”), or any shares of
      capital stock of Merger Sub:

     

    (a)  Capital
      Stock of Merger Sub.
      Each
      issued and outstanding share of each class of capital stock of Merger Sub shall
      be converted into and become one validly issued, fully paid and nonassessable
      share of the common stock, par value $0.01 per share, of the Surviving
      Corporation.

     

    (b)  Cancellation
      of Treasury Stock and Parent-Owned Stock.
      Any
      shares of Company Common Stock that are owned by the Company as treasury stock,
      and any shares of Company Common Stock owned by Parent or Merger Sub, shall
      be
      automatically canceled and shall cease to exist and no consideration shall
      be
      delivered in exchange therefor.

     

    (c)  Conversion
      Class A Common Stock.
      

     

    (i)  Each
      issued and outstanding share of Class A Common Stock (other than shares to
      be
      canceled in accordance with Section 2.1(b)) shall be converted into the right
      to
      receive (A) one (1) validly issued, fully paid and nonassessable share of Class
      A common stock, par value $0.01 per share, of Parent (“Parent Class A Stock”),
      and (B) $72.85 in cash. 

     

    (ii)  As
      of the
      Effective Time, all such shares of Class A Common Stock shall no longer be
      outstanding and shall automatically be canceled and shall cease to exist, and
      each holder of a certificate which immediately prior to the Effective Time
      represented any such shares of Class A Common Stock (each, a “Certificate”)
      shall cease to have any rights with respect thereto, except the right to receive
      the consideration described in subparagraph (i) above (the “Merger
      Consideration”), and any declared or unpaid dividends or other distributions to
      which such holder is entitled on such shares, without interest.

     

    (d)  Assumption
      of Equity Incentive Plan and Awards.
      Parent
      shall assume the Company’s Amended and Restated Equity Incentive Plan, dated
      November 30, 2006 (the “Plan”) pursuant to Section 13(b) of the Plan, and amend
      and restate the Plan in the form attached hereto as Exhibit
      B.
      Parent
      shall further assume (i) any options granted to purchase shares of Class B
      Common Stock under the Plan (the “Option Awards”) and pursuant to option
      agreements between the Company and employees or directors of the Company and
      its
      subsidiaries (the “Option Agreements”), and (ii) any restricted stock awards for
      Class B Common Stock issued under the Plan (“Restricted Stock Awards”) and
      pursuant to restricted stock agreements (“RSAs”) on the same terms and
      conditions set forth in such Option Agreements and RSAs as in effect immediately
      prior to the Effective Time; provided,
      however,
      that
      the shares of capital stock subject to the Option Awards and RSAs shall be
      substituted with an equal number of shares of Class B common stock, $0.01 par
      value, of Parent (“Parent Class B Stock,” and together with the Parent Class A
      Stock, the “Parent Stock”).

     

    (e)  Appraisal
      Rights.
      Notwithstanding anything in this Agreement to the contrary, Company Common
      Stock
      issued and outstanding immediately prior to the Effective Time and which is
      held
      by a stockholder who did not vote in favor of the Merger (or consent thereto
      in
      writing) and who is entitled to demand and properly demands appraisal of such
      shares pursuant to, and who complies in all respects with, the provisions of
      Section 262 of the DGCL (the “Dissenting Stockholders”), shall not be, in the
      case of Class A Common Stock, converted into or be exchangeable for the right
      to
      receive the Merger Consideration, or in the case of Class B Common Stock, be
      substituted pursuant to Section
      2.1(d)
      above,
      (the “Dissenting Shares”), but instead in each case such holder shall be
      entitled to payment of the fair value of such shares in accordance with the
      provisions of Section 262 of the DGCL (and at the Effective Time, such
      Dissenting Shares shall no longer be outstanding and shall automatically be
      canceled and shall cease to exist, and such holder shall cease to have any
      rights with respect thereto, except the right to receive the fair value of
      such
      Dissenting Shares in accordance with the provisions of Section 262 of the DGCL),
      unless and until such holder shall have failed to perfect or shall have
      effectively withdrawn or lost rights to appraisal under the DGCL. If any
      Dissenting Stockholder shall have failed to perfect or shall have effectively
      withdrawn or lost such right, such holder’s Company Common Stock shall thereupon
      be treated as if, in the case of Class A Common Stock, they had been converted
      into and become exchangeable for the right to receive, as of the Effective
      Time,
      the Merger Consideration, or in the case of Class B Common Stock, had been
      substituted pursuant to Section
      2.1(d)
      above as
      of the Effective Time, for each such share of Company Common Stock, without
      any
      interest thereon.

     

    SECTION
      2.2.  Exchange
      of Certificates.

     

    (a)  Exchange
      Procedures.
      Within
      ten (10) business days following the Closing Date, each holder of Company Common
      Stock shall surrender any certificate representing Company Common Stock for
      cancellation in the books and records of the Company, and Parent shall mail
      to
      each former holder of Company Common Stock a new certificate representing the
      shares of Parent Stock to which such holder is entitled under Sections 2.1(c)
      or
      (d) above. 

     

    (b)  Transfer
      Books; No Further Ownership Rights in Company Common Stock.
      The
      Merger Consideration paid in respect of shares of Class A Common Stock shall
      be
      deemed to have been paid in full satisfaction of all rights pertaining to the
      shares of Class A Common Stock. At the Effective Time, upon the assumption
      of
      the Option Awards or RSAs and the substitution of the Parent Class B Stock,
      the
      recipients of the Option Awards or RSAs, as the case may be, shall cease to
      have
      any further rights with respect to the Class B Common Stock. At the Effective
      Time, the stock transfer books of the Company shall be closed and thereafter
      there shall be no further registration of transfers of the Company Common Stock
      on the stock transfer books of the Surviving Corporation.

     

    SECTION
      2.3.  Withholding.
      Parent
      shall be entitled to deduct and withhold from the Merger Consideration, any
      such
      amounts as Parent is required to deduct and withhold under the Code, or any
      provision of state, local or foreign tax law, with respect to the making of
      such
      payment. To the extent that amounts are so withheld by Parent, such withheld
      amounts shall be treated for all purposes of this Agreement as having been
      paid
      to the stockholder in respect of whom such deduction and withholding was made
      by
      Parent.

     

    ARTICLE
      III  

     

    

     

    Miscellaneous

     

    SECTION
      3.1.  Entire
      Agreement.
      This
      Agreement constitutes the entire agreement, and supersedes all other prior
      agreements and understandings, both written and oral, among the parties, or
      any
      of them, with respect to the subject matter hereof.

     

    SECTION
      3.2.  Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of Delaware, applicable to contracts executed in and to be performed
      entirely within that State.

     

    SECTION
      3.3.  Severability.
      If any
      term or other provision of this Agreement is determined by a court of competent
      jurisdiction to be invalid, illegal or incapable of being enforced by any rule
      of law or public policy, all other terms, provisions and conditions of this
      Agreement shall nevertheless remain in full force and effect. Upon such
      determination that any term or other provision is invalid, illegal or incapable
      of being enforced, the parties hereto shall negotiate in good faith to modify
      this Agreement so as to effect the original intent of the parties as closely
      as
      possible to the fullest extent permitted by applicable law in an acceptable
      manner to the end that the transactions contemplated hereby are fulfilled to
      the
      extent possible.

     

    [signature
      page follows]

    

    

    
      
        
           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed and delivered as of the date first above written.

     

    SIMMONS
      HOLDCO, INC.

     

    

     

    By: 
      /s/  William S. Creekmuir

     

    Name: 
      William S. Creekmuir

     

    Title: 
      Executive Vice President and Chief Financial Officer

     

    

     

    SIMMONS
      MERGER COMPANY

     

    

     

    By: 
      /s/  William S. Creekmuir

     

    Name: 
      William S. Creekmuir

     

    Title: 
      Executive Vice President and Chief Financial Officer

     

    

     

    SIMMONS
      COMPANY

     

    

     

    By: 
      /s/  William S. Creekmuir

     

    Name: 
      William S. Creekmuir

     

    Title: 
      Executive Vice President and Chief Financial Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]