Document:

EXHIBIT 10.1

 

Effective date: 3 December 2014

 

This Schedule replaces the Schedule to
the Agreement for the Purchase of Debts entered into between HSBC Invoice Finance (UK) Limited and Lakeland Industries
Europe Limited 04500660 on 19 August 2014. This replacement is made under Condition 29 (Variations) of
the Standard Terms and Conditions that are part of that agreement

 

THE SCHEDULE

 

		1.	Client particulars

 

		Nature of business	Wholesale of safety clothing

 

		Principal place of business	Jet Park 2, 244 Main Road, Newport, East Yorkshire, HU15
2RP

 

 

 

		2.	Product(s) selected

 

		Finance	Yes

 

		Credit Management	Yes

 

		Credit Protection	Yes

 

 

 

		3.	Commercial terms

 

		Approved Countries	(a)United Kingdom, Ireland, the Isle of Man and the
Channel Islands

 

		(b)	Abu Dhabi (UAE), Ajman (UAE), American Samoa, Andorra,
Anguilla, Australia, Austria, Bahamas, Belgium, Bermuda, Brazil, British Indian Ocean Territory, Brunei, Canada, Cayman Islands,
Chile, China, Cyprus, Czech Republic, Denmark, Dubai (UAE), Estonia, Falkland Isles, Faroe Islands, Finland, France, French Guiana,
French Polynesia, French Southern Territories, Fujairah (UAE), Germany, Gibraltar, Greece, Greenland, Guadeloupe, Guam, Hong Kong,
Israel, Italy, Japan, Kuwait, Liechtenstein, Luxembourg, Macau, Malaysia, Malta, Martinique, Mauritius, Mayotte, Mexico, Monaco,
Montserrat, Netherlands, New Caledonia, New Zealand, Norway, Northern Mariana Is., Oman, Peru, Poland, Portugal (Madeira), Portugal,
Puerto Rico, Qatar, Ras Al-Khaimah (UAE), Reunion, Saint Helena, Sharjah (UAE), Saudi Arabia, St Pierre & Miquelon, San Marino,
Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain (Canary Islands), Spain, Sweden, Switzerland, Taiwan, Trinidad
& Tobago, Turks & Caicos Islands, Umm Al-Qaiwain (UAE), United Arab Emirates, United States of America, US Minor Outlying
Islands, Vatican City State, Virgin Islands (US & British) and Wallis & Futuna Islands.

 

		(c)	Bosnia, Hungary, Lithuania, Montenegro, Morocco, Romania,
Serbia & Turkey

 

 

    	Page 1

    	 

    

 

 

		Automatic Funding Limit	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: £ 50,000

 

Other
countries: £ 50,000

 

		Client to give notice of assignment to Customers	Yes

 

 

		Commencement Date	30 January 2013

 

		Concentration Percentage	40 per cent

 

		Debtor Currencies	Sterling and Euro

 

		Debt Turn Target	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: 90 days

 

Other
countries: 90 days

 

		Facility Limit	£ 1,500,000

 

		Law	English law governs this Agreement

 

		Minimum Period	12 Months

 

		Non-Notifiable Debt	The following are additional categories of Non-Notifiable
Debt:

 

Debts
arising from contracts of sale entered into with your customer Elite Supplies Limited (registration number 06309981) and PPG Clothing
Limited (SC386962)

 

 

		Notice Period	3 Months

 

		Prepayment Currencies	Sterling and Euro

 

		Prepayment Percentage	90 per cent

 

		Reduction Percentage	N/A

 

		Standard Payment Terms	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: Not exceeding net 60 days from date of invoice

 

Other
countries: Not exceeding net 90 days from date of invoice

 

		4.	Pricing

 

		Allowance Margin	2.50 per cent

 

		Arrangement Fee	N/A

 

		Discounting Margin	3.00 per cent

 

		Facility Review Fee	Nil

 

		Other fees	Fees will be payable for:

 

(a)
any variation to the terms of this Agreement;

 

 

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(b)
the release of any Security Interest;

 

(c)
new Security Interests to be granted to HIF or any third party.

 

		Service Charge	For Approved Countries listed in paragraphs (a), (b)
& (c) 0.900 per cent of the Notified value of each Debt, subject to a minimum of £ 42,500 per annum calculated in respect
of each period of one year starting on the first day of the month following the Commencement Date and each anniversary thereafter

 

		5.	Credit Protection

 

		Automatic Credit Protection Limit	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: £ 3,000

 

Other
countries: N/A

 

 

		Credit Protection Percentage	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: 100 per cent

 

Other
countries: 90 per cent

 

		First Loss	United Kingdom, Ireland, the Isle of Man and the Channel
Islands: £ 1,000

 

Other
countries: £ 1,000

 

		Unprotected Debts at the Commencement Date	At the Commencement Date any Debt which is unpaid 60
days or more after the due date for payment and any other Debts of the same Customer

 

 

 

		6.	Covenants

 

		Debt Turn Covenant	N/A

 

		Dilution Percentage	N/A

 

		Dispute Percentage	N/A

 

		Tangible Net Worth Covenant	N/A

 

The covenants listed
above shall be tested at the following times:

 

Testing
Day

 

		Debt Turn	Final day of each calendar month

 

		Dilution Percentage	Final day of each calendar month

 

		Dispute Percentage	Final day of each calendar month

 

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		7.	Special terms

 

		(a)	In addition to the undertakings given by the Client in Condition 17, the Client also undertakes:

		(i)	To ensure that:

		(A)	where necessary, the Client and/or the Customer possess all licences required to export/import
the relevant goods; and

		(B)	the Client and the Customer comply with all laws and/or regulations applicable to the import or
export of the relevant goods including, but not limited to, any exchange control regulations; and

		(ii)	To provide HIF, each year, with a declaration (“Annual Declaration”) of the Client’s
total sales to Customers located in each Approved Country in a form specified by HIF, for the period of 12 months (or part thereof)
ending 31 March (or for such other period as HIF may specify from time to time). Such declaration to be supplied to HIF within
30 days of the end of the relevant period.

 

		(b)	Where a Credit Protection Limit is expressed in a currency other than that in which the Debt payable
by the relevant Customer is expressed and/or the currency in which the purchase price is payable, then for the purposes of calculating
any amount payable by HIF to the Client under the provisions of Condition 11.6, the Spot Rate of Exchange on the date of payment
shall be used. Any gains or losses, resulting from fluctuation in exchange rates will be for the account of the Client.

 

		(c)	HIF will not provide Credit Protection in respect of any particular Debt if:

		(i)	the Debt arose after any expiry date notified by HIF to the Client in respect of the relevant Credit
Protection Limit; or

		(ii)	there has been any breach by the Client of any term specified by HIF as being a condition of its
approval of the relevant Credit Protection Limit

 

The provisions of this special
term are in addition to, and not in replacement of, the provisions of Condition 11.4.

 

		(d)	For the purposes of Condition 11.4 (f) events of “force majeure” shall include

 

		(i)	the ionising, radioactive, toxic, explosive or other
hazardous or contaminating properties or effects of any explosive nuclear assembly or component thereto, nuclear fuel, combustion
or waste; and

		(ii)	where goods are to be despatched to, or payment is to
be made from, a country other than that in which the Customer is located, any event preventing or delaying the issue of a remittance
from such third country.

 

HSBC Invoice Finance (UK) Limited is,
at the date of this Agreement, a member of the Asset Based Finance Association (“ABFA”) and abides by its terms of
membership. Under its Memorandum of Association, publicly filed at Companies House, ABFA is not a public regulatory authority
and has no financial or other responsibility to anyone arising out of the actions and dealings of its members. The ABFA has provided
and/or will provide a Code of Conduct, guidance and a complaints procedure each of which can be viewed on its website at www.ABFA.org.uk.

 

 

    	Page 4EXHIBIT 10.2

 

 

 

 

		To:	HSBC Invoice Finance (UK) Ltd

Farncombe Road

Worthing

West Sussex

BN11 2BW

 

 

Date December 5, 2014

 

 

 

Lakeland Industries Europe Limited ("the
Company")

 

In consideration of your entering into
or continuing an agreement for the purchase of debts ("the Agreement") with the Company, we Lakeland Industries Inc.
(Incorporated in the United States of America registration number 47326) hereby undertake that:

 

		1.	We shall not, without your prior consent, accept payment or repayment from the Company so as to reduce the net indebtedness
of the Company to us below the sum of £400,000 (Four Hundred Thousand Pounds) Sterling and;

 

		2.	We shall hold on trust for you any monies that we may receive from the Company contrary to this letter of undertaking.

 

We agree that this letter of undertaking
shall remain effective until the Agreement comes to an end and the Company has discharged all its obligations to you.

 

Yours faithfully

 

For and on behalf of

 

Lakeland Industries, Inc.

 

 

 

/s/ Gary Pokrassa

 

Duly Authorised Director

 

Gary Pokrassa, CFO

 

 

Lakeland Industries, Inc.
701-7 Koehler Avenue, Ronkonkoma, New York 11779 (631) 981-9700EX-10.1

 Exhibit 10.1 

Execution Version 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is dated as of December 2, 2014 (the “Effective
Date”), by and among QEP Resources, Inc., a Delaware corporation (“QEP”), QEP Field Services Company, a Delaware corporation (“Field Services”), and Tesoro Logistics LP, a Delaware limited
partnership (“TLLP”). QEP, Field Services and TLLP are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

RECITALS: 
 A. Pursuant to
that certain Membership Interest Purchase Agreement, dated October 19, 2014 (the “MIPA”), by and between Field Services and TLLP, QEP, through Field Services, agreed to sell its midstream business to TLLP; 

B. The Parties and certain of their affiliates entered into the First Amended and Restated Omnibus Agreement, dated as of the date hereof (the
“A&R Omnibus Agreement”), to release QEP and Field Services from certain indemnification obligations set forth in Article II of that certain Omnibus Agreement, dated as of August 14, 2013, by and among QEP, Field
Services, QEP Midstream Partners, LP, a Delaware limited partnership (“QEPM”), and certain affiliates of QEPM. 
 C.
Pursuant to Section 6.24 of the MIPA, QEP and Field Services have agreed to retain certain other indemnification obligations related to assets retained by them and not conveyed to QEPM or TLLP. 

NOW, THEREFORE, in consideration of the premises and the mutual promises, representations, warranties, covenants, conditions and
agreements contained herein and in the MIPA, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound by the terms hereof, agree as follows: 

ARTICLE I 
 DEFINITIONS
AND INTERPRETATION 
 Section 1.1 Definitions. In addition to the terms defined in the introductory paragraph and the recitals of
this Agreement, for purposes hereof, the capitalized terms used herein and not otherwise defined shall have the meanings set forth in the MIPA. 

Section 1.2 Rules of Construction. Unless expressly provided for elsewhere in this Agreement, this Agreement shall be interpreted in
accordance with the rules of construction set forth in Section 1.2 of the MIPA. 

 ARTICLE II 

INDEMNIFICATION 

Section 2.1 If QEPM asserts an indemnification claim against TLLP under Sections 2.1(a)(iii) or 2.3(a)(ii) of the A&R Omnibus
Agreement (a “QEPM Claim”), QEP and Field Services shall, jointly and severally, indemnify, defend and hold harmless the Purchaser Group from and against any Damages suffered or incurred by the Purchaser Group, directly or
indirectly, by reason of or arising out of: 
 (a) any environmental event, condition or matter associated with or arising from such QEP
Claim as it relates to the Haynesville Assets, which represent the only Retained Assets (as defined in the A&R Omnibus Agreement) that were not included in the Assets sold to TLLP pursuant to the MIPA, whether occurring before, on or after
August 14, 2013, and whether occurring under Environmental Laws (as defined in the A&R Omnibus Agreement) as in effect prior to, at or after the Closing Date; and 

(b) events and conditions associated with the Haynesville Assets, which represent the only Retained Assets (as defined in the A&R Omnibus
Agreement) that were not included in the Assets sold to TLLP pursuant to the MIPA, whether occurring before, on or after August 14, 2013; provided that such event or condition is set forth in a QEPM Claim. 

Section 2.2 All claims for indemnification pursuant to this Agreement shall be asserted and resolved as set forth in Section 10.3 of
the MIPA. 
 Section 2.3 The indemnification obligations of QEP and Field Services pursuant to this Agreement shall be subject to the
same limitations as set forth in Section 12.12 of the MIPA. For the avoidance of doubt, no other limitations shall apply other than as provided in this Section 2.3. In addition, TLLP agrees that it shall only be entitled to
indemnification under this Agreement with respect to an event giving rise to a QEPM Claim. 
 ARTICLE III 

MISCELLANEOUS 

Section 3.1 Except as otherwise provided herein, all costs and expenses (including legal and financial advisory fees and expenses)
incurred in connection with, or in anticipation of, this Agreement and the transactions contemplated hereby shall be paid by the Party incurring such expenses. 

Section 3.2 This Agreement and the legal relations between the Parties shall be governed by and construed in accordance with
Section 12.4 of the MIPA. 
 Section 3.3 This Agreement constitutes the entire agreement between the Parties pertaining to the
subject matter hereof, and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written, of the Parties pertaining to the subject matter hereof. 

Section 3.4 This Agreement may be executed in counterparts, each of which shall be deemed an original instrument, but all such
counterparts together shall constitute but one agreement. A Party’s delivery of an executed counterpart signature page by facsimile (or electronic .pdf format transmission) is as effective as executing and delivering this Agreement in the
presence of the other Party. No Party shall be bound until such time as all of the Parties have executed counterparts of this Agreement. 

  
 2 

 Section 3.5 Except as otherwise contemplated by this Agreement, all covenants and agreements
of the Parties contained in this Agreement shall survive from the Effective Date and remain in full force and effect in accordance with their applicable terms. 

Section 3.6 All notices and other communications that are required or may be given pursuant to this Agreement must be given as required
pursuant to Section 12.2 of the MIPA. 
 Section 3.7 A failure by any Party to comply with any of its obligations, agreements or
conditions herein contained may be waived by either Party, as applicable, by an instrument signed by such party and expressly identified as a waiver, but not in any other manner. No waiver of, or consent to a change in, any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of, or consent to a change in, other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

Section 3.8 This Agreement may be amended or modified only by an agreement in writing executed by all Parties and expressly identified as
an amendment or modification. 
 Section 3.9 Except as otherwise expressly provided for in this Agreement, no Party shall assign all or
any part of this Agreement, nor shall any Party assign or delegate any of its rights or duties hereunder, without the prior written consent of the other Parties (which consent may be withheld for any reason) and any assignment or delegation made
without such consent shall be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. 

Section 3.10 Each of the Parties shall cause to be performed all actions, agreements and obligations set forth herein to be performed by
any Subsidiary or Affiliate of such Party or by any entity that becomes a Subsidiary or Affiliate of such Party on and after the Effective Date. 

Section 3.11 Except as otherwise expressly provided in this Agreement, including Article III hereof, this Agreement is solely for the
benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement. 

Section 3.12 The Parties agree that irreparable damage would occur in the event that the provisions of this Agreement were not performed
in accordance with their specific terms. Accordingly, it is hereby agreed that the Parties shall be entitled to obtain specific performance of the terms of this Agreement in addition to any other remedy or relief to which they may be entitled. If
any action is brought to enforce this Agreement against a Party, such Party shall waive the defense that there is an adequate remedy at law. 

Section 3.13 The invalidity or unenforceability of any term or provision of this Agreement in any situation or jurisdiction shall not
affect the validity or enforceability of the other terms or provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction and the remaining terms and provisions shall
remain in full force and effect, unless doing so would result in an interpretation of this Agreement that is manifestly unjust. 

  
 3 

 [Signature Pages Follow] 

  
 4 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above
written. 
  

			
	QEP RESOURCES, INC.
		
	By:	 	/s/ Richard J. Doleshek
	Name:	 	Richard J. Doleshek
	Title:	 	Executive Vice President and Chief Financial Officer
	
	QEP FIELD SERVICES COMPANY
		
	By:	 	/s/ Richard J. Doleshek
	Name:	 	Richard J. Doleshek
	Title:	 	Executive Vice President and Chief Financial Officer

 Signature Page to Indemnification Agreement 

			
	TESORO LOGISTICS LP
	
	By: Tesoro Logistics GP, LLC, its general partner
		
	By:	 	/s/ Phillip M. Anderson
	Name:	 	Phillip M. Anderson
	Title:	 	President

 Signature Page to Indemnification Agreement

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