Document:

EX-10.1 EMPLOYMENT AGREEMENT - JIMMY M. WOODWARD

 

EXHIBIT 10.1

EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT (the “Agreement”), effective as of September 15, 2007, is made and
entered into by and between FLOWERS FOODS, INC., a Georgia corporation (“Flowers”) and JIMMY M.
WOODWARD, an individual resident of Georgia (herein referred to as the “Employee”):

WITNESSETH:

          WHEREAS, Flowers desires to retain Employee to serve in the capacity of adviser to the
Chairman, CEO and President of Flowers on financial and related matters, upon the terms and
conditions hereinafter set forth; and

          WHEREAS, Employee desires to enter into this Agreement with respect to Employee’s services
upon the terms and conditions hereinafter set forth;

          NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein,
Flowers and Employee agree as follows:

     1. Resignation from Office. Flowers and Employee agree that Employee has voluntarily
resigned as Senior Vice President and Chief Financial Officer of Flowers and in all other officer
positions relating to any affiliate of Flowers as of September 15, 2007 (the “Effective Date”).
After the Effective Date, Employee’s employment with Flowers shall be governed solely by this
Agreement.

     2. Termination of Prior Agreements. Flowers and Employee mutually agree that any and
all employment, separation or similar agreements between Flowers and Employee (and/or any of their
respective affiliates) prior to the date hereof are hereby terminated effective on the Effective
Date, it being understood that any outstanding equity award agreements pursuant to the Flowers
Foods, Inc. Equity and Performance Incentive Plan by and between Flowers and Employee (the “Equity
Award Agreements”) continue in full force and effect.

     3. Employment. Flowers agrees to retain Employee, and Employee agrees to serve
Flowers, for a period commencing on the Effective Date and terminating on February 28, 2010 (the
“Employment Period”). Employee agrees during the Employment Period to make himself available for
no fewer than five (5) hours per month during the term of this Agreement by telephone and in person
at the offices of Flowers or any other reasonable location for advice and consultation with
management of Flowers on financial and related affairs, including, but not limited to, assisting in
any activity which will facilitate the transition to the successor chief financial officer of
Flowers, assisting in the completion of any current project requiring background information
provided by Employee, advising the Chairman, CEO and President of Flowers on an as-needed basis on
financial and other related topics, and any other similarly related activities. Such services
shall be provided at such times during normal business hours as

 

 

may be mutually agreed upon by Flowers and Employee consistent with Employee’s other
commitments and schedule. Employee will not, during the Employment Period, engage in activities
which are detrimental to the business of Flowers, and will use his best efforts to promote good
relations between Flowers and the employees, shareholders, brokers, suppliers, contractors, and
customers of Flowers.

     4. Compensation. 

     (a) In consideration of the services to be rendered by Employee during the Employment Period
under this Agreement, Employee shall be entitled to compensation pursuant to the attached
Schedule A.

     (b) In addition, Flowers shall pay or reimburse Employee, in accordance with Flowers’ standard
policies and procedures, for reasonable travel and other business related expenses, if any,
incurred solely in the performance of his duties as an Employee.

     (c) From the Effective Date through the date of the Employee’s termination on February 28,
2010, or earlier death, or resignation, Employee shall have the status of a full-time salaried
employee and Flowers shall provide to Employee medical, dental and life benefits (but not
disability benefits) on the same basis as provided to other full-time salaried employees at the
time in question. Employee shall be responsible for and pay the cost (which, to the extent
practicable, shall be the cost generally applicable to similarly situated employees of Flowers) of
all premiums due under such plans attributable to any covered dependents and shall promptly
reimburse Flowers for any premiums paid on behalf of such dependents.

     5. Relationship Between Parties. During the Employment Period, Employee’s relation to
Flowers shall be that of an employee, but he shall be free to dispose of such portion of his time,
energy, and skill, to the extent not obligated to devote same to Flowers pursuant to Section 3
above, as he sees fit, and to such persons, firms or corporations as he deems advisable, subject to
the terms of this Agreement. During the Employment Period, Employee is not required to observe any
regular hours of work for Flowers or attend any regular conferences with any personnel of Flowers,
except as requested by Flowers in accordance with the terms of Section 3 of this Agreement.

     6. Company Stock Transactions. Flowers and Employee recognize and agree that any and
all warrants, options or derivative securities involving Flowers common stock will remain
outstanding during the Employment Period, in accordance with the respective terms of agreements
covering such warrants, options or derivative securities. Furthermore, for purposes of the Equity
Award Agreements, Flowers hereby confirms that its Compensation Committee has determined that
Employee’s position under this Agreement is not a “demotion from the position of employment held”
by the Employee prior to the date of this Agreement, and Employee agrees with such determination.

     7. Termination. The following provisions relate solely to termination of the
Employee’s employment during the Employment Period:

     (a) Death. Subject to Section 8 below, this Agreement shall terminate automatically
upon the Employee’s death.

2

 

     (b) Cause. Flowers may terminate the Employee’s employment for “Cause.” For purposes
of this Agreement, “Cause” means (i) an act or acts of dishonesty, moral turpitude or willful
misconduct taken by the Employee and intended to result in substantial personal enrichment of the
Employee at the expense of Flowers or any of its affiliates or which have a material adverse impact
on the business or reputation of Flowers or any of its affiliates, or (ii) repeated violations by
the Employee of the Employee’s obligations under Section 3 of this Agreement which are demonstrably
willful and deliberate on the Employee’s part and which have a material adverse impact on the
business or reputation of Flowers or any of its affiliates.

     (c) Notice of Termination. Any termination by the Employer for Cause shall be
communicated by Notice of Termination to the other party hereto given in accordance with Section 17
of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written
notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii)
sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Employee’s employment under the provision so indicated, and (iii) if the
termination date is other than the date of receipt of such notice, specifies the termination date
(which date shall be not more than 15 days after the giving of such notice).

     (d) Date of Termination. “Date of Termination” means the date of receipt of the
Notice of Termination by the Employee or any later date specified therein, as the case may be. If
the Employee’s employment is terminated by Flowers in breach of this Agreement, the Date of
Termination shall be the date on which Flowers notifies the Employee of such termination.

     8. Obligations of Flowers Upon Termination. The following provisions apply only in the
event the Employee is terminated during the Employment Period:

     (a) Death. If the Employee’s employment is terminated by reason of the Employee’s
death, this Agreement shall terminate without further obligation to the Employee’s legal
representatives under this Agreement other than those payment amounts accrued and payable hereunder
at the date of the Employee’s death.

     (b) Cause. If the Employee’s employment shall be terminated for Cause, Flowers shall
pay the Employee any amounts then accrued and payable hereunder through the Date of Termination and
shall provide the Employee, through the Date of Termination, such welfare benefits, fringe
benefits, and other perquisites as were provided to the Employee immediately prior to delivery to
Employee of the Notice of Termination. Flowers shall have no further obligation to the Employee
under this Agreement.

     (c) Other Than for Cause. If Flowers shall terminate the Employee’s employment with
Flowers other than for Cause,

     (i) Flowers shall pay to the Employee in a lump sum in cash within 30 days after the
Date of Termination any amounts then accrued and payable hereunder through the Date of
Termination; and

     (ii) Flowers shall, promptly upon submission by the Employee of supporting
documentation, pay or reimburse to the Employee any business-related costs and expenses paid
or incurred by Employee on or before the Date of Termination or within 30

3

 

days after the Date of Termination which would have been payable under Section 4(b) if
the Employee’s employment had not terminated.

     9. Standstill; Voting of Capital Stock.

     (a) Employee covenants and agrees that for the duration of the Employment Period, Employee
shall not without the prior specific written consent of Flowers (i) make, or in any way participate
in any solicitation of proxies with respect to any securities of Flowers, whether equity or debt
securities or any direct or indirect options or other rights to acquire any such securities
(“Securities”) (including by the execution of action by written consent), become a participant in
any election contest with respect to Flowers, seek to influence any person with respect to any
Securities or demand a copy of Flowers’ list of its stockholders or other books and records; (ii)
participate in or encourage the formation of any partnership, syndicate, or other group which owns
or seeks or offers to acquire beneficial ownership of any Securities or which seeks to effect
control of Flowers or for the purpose of circumventing any provision of this Agreement; (iii)
otherwise act, alone or in concert with others (including by providing financing for another
person), to seek or to offer to control or influence, in any manner, the management, Board of
Directors or policies of Flowers, or any affiliate of Flowers, or (iv) propose or publicly announce
or otherwise disclose an intent to propose, or enter into or agree to enter into, singly or with
any other person or directly or indirectly, (1) any form of business combination, acquisition or
other transaction relating to Flowers or any affiliate thereof, (2) any form of restructuring,
recapitalization or similar transaction with respect to Flowers or any such affiliate, or (3) any
demand, request or proposal to amend, waive or terminate any provision of this Section.

     (b) Employee covenants and agrees that for the duration of the Employment Period, at all
annual or special meetings of shareholders of Flowers or any written consent action to be taken by
the shareholders of Flowers, Employee shall take all actions necessary to vote all shares of
Flowers common stock currently owned of record or beneficially owned or hereafter directly or
indirectly acquired (of record or beneficially) by Employee in a manner consistent with the
recommendation of the Board of Directors of Flowers with respect to any proposal (including
nominees for election of directors).

     (c) As used in this Agreement, (a) the terms or phrases “affiliate,” “beneficial owner,”
“election contest,” “equity security,” “group,” “participant,” “person,” “proxy,” and “security,”
(and the plurals thereof) will be ascribed meanings no less broad than the broadest definition or
meaning of such terms under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”)
and the rules and regulations promulgated thereunder and (b) the term “immediate family” shall mean
the spouse, lineal descendant, father, mother, brother or sister of Employee.

     10. Confidentiality.

     (a) Each of the parties to this Agreement represents and agrees that it will keep the terms,
amount and facts of this Agreement completely confidential, and that it will not hereafter disclose
any information concerning this Agreement to anyone other than, in the case of the Employee, his
immediate family and professional representatives and, in the case of Flowers, its professional
representatives, who, in each case, will be informed of and bound by this confidentiality clause;
provided, however, that Employee shall be free to disclose to others any

4

 

information relating to the terms, amount and facts of this Agreement to the extent Flowers
discloses any such information to the public, including, without limitation, any information
disclosed in Flowers’ filings with the Securities and Exchange Commission and Flowers shall be
permitted to disclose such information as it shall deem appropriate in its filings with the
Securities and Exchange Commission.

     (b) Employee shall maintain in confidence and shall not, either during or at any time after
the Employment Period, communicate or disclose to, or use for the benefit of Employee or any other
person, firm, association or corporation any proprietary or confidential information, trade secret
or know-how belonging to Flowers (together, the “Proprietary Information”), whether or not such
information is in written or permanent form. Such Proprietary Information includes, but is not
limited to, techniques, processes, plans, or methods of Flowers in the manufacturing, distribution,
marketing and sale of bakery products, bread, or bread-type rolls, and technical and business
information relating to Flowers’ inventions or products, research and development, finances,
existing and potential customers and suppliers, marketing, and future business plans.
Notwithstanding the foregoing, the term Proprietary Information shall not include any information
that was in the public domain at the time it was disclosed or subsequently becomes in the public
domain, including information that is publicly known or generally utilized by others engaged in the
same business or activities as that in the course of which Flowers utilized, developed or otherwise
acquired such information, other than as a result of a disclosure by Employee in violation of this
Agreement. Employee hereby acknowledges and agrees that the prohibitions against disclosure of
Proprietary Information recited herein are in addition to, and not in lieu of, any rights or
remedies that Flowers may have available pursuant to the laws of any jurisdiction or common law or
judicial precedent to prevent the disclosure of trade secrets or proprietary information, and the
enforcement by Flowers of its rights and remedies pursuant to this Agreement shall not be construed
as a waiver of any other rights or available remedies that it may possess in law or equity absent
this Agreement.

     (c) All Proprietary Information consisting of records, reports, notes, compilations or other
recorded matter, and copies or reproductions thereof, relating to Flowers’ operations, activities
or business, made or received by Employee during the Employment Period are and shall be Flowers’
exclusive property, and Employee shall keep the same at all times in his custody and subject to his
control, and will surrender the same to Flowers at the termination of the Employment Period, if not
before.

     11. Non-competition Covenant.

     (a) Covenant Not to Compete. The Employee covenants and agrees that he will not
compete with Flowers, directly or indirectly, by working as an employee, consultant or otherwise as
a Chief Financial Officer or other senior member of management in a business that is substantially
similar to the Business (as defined below) anywhere in the locations listed on Schedule B
(the “Proscribed Territory”), which the parties hereto agree represent the territories where
Flowers currently manufactures, distributes, markets and/or sells products or where Flowers has
active plans to manufacture, distribute, market or sell products for the term of the Employment
Period plus a period of one (1) year.

5

 

     (b) “Compete” Defined. For purposes of this Section, the term “compete” shall mean,
in each case with respect to “carrying on a business that is substantially similar to the
Business”: (i) entering into or attempting to enter into any business substantially similar to the
Business in the Proscribed Territory; (ii) calling on, soliciting, or actively taking away as a
customer — or attempting to call on, solicit, or actively take away as a customer — any
individual, partnership, corporation, or association that was a customer of Flowers immediately
prior to the date hereof for purpose of a business substantially similar to the Business; (iii)
hiring, soliciting, actively taking away —  or attempting to hire, solicit or actively take away
— either on the Employee’s behalf or on behalf of any other person or entity, any person serving
immediately prior to the date hereof as an employee, or, to the extent not an employee, any person
providing substantial services as a director or officer of Flowers, in connection with the
Business; or (iv) entering into or attempting to enter into any business substantially similar to
or competing in any way with the Business, either alone or with any individual, partnership,
corporation, limited liability company, or other legal entity.

     (c) “Directly or Indirectly” Defined. For purposes this Section, the words “directly
or indirectly” as they modify the word “compete” shall mean: (i) acting as an agent,
representative, consultant, officer, director, independent contractor, or employee of any entity or
enterprise that is competing (as defined above) with the Business; (ii) participating in any entity
or enterprise that is competing with the Business as an owner, partner, limited partner, member,
manager, joint venturer, creditor, or shareholder (except as a shareholder holding less than a
five-percent (5%) interest in a corporation whose shares are actively traded on a regional or
national securities exchange or in the over-the-counter market); and (iii) communicating to any
entity or enterprise that is competing with the Business the names or addresses or any other
information concerning any past, present, or currently identified prospective client or customer of
Flowers.

     (d) “Business” Defined. For purposes of this Agreement, the term “Business” shall
mean the operations of Flowers, which the parties hereto agree include the manufacturing,
distribution, marketing and sale of bakery products, bread, or bread-type rolls.

     12. Future Cooperation. During the term of this Agreement and with the exception of
litigation wherein Employee is an individually-named and properly served defendant and wishes to
take such actions as he deems appropriate to defend himself, Employee shall, upon request by and at
the expense of Flowers, assist and cooperate with Flowers in any complaints brought or threatened
by any party (other than Employee) against Flowers or any affiliate, successor or subsidiary
thereof in any lawsuits, disputes, differences, grievances, claims, charges, or complaints brought
or threatened by any party or brought by Flowers or any affiliate, successor or subsidiary thereof,
against any party

     13. Successors Bound; Assignability. This Agreement shall be binding upon Employee,
Flowers and their respective successors in interest, including without limitation, any corporation
into which Flowers may be merged or by which it or all or any substantial portion of its assets or
business may be acquired. This Agreement is non-assignable except that the rights, duties and
obligations of Flowers under this Agreement may be assigned to any affiliate of it and to any
acquiror of the business conducted by Flowers, in the event Flowers is merged, liquidated, acquired
or sells substantially all of the assets used in such business.

6

 

     14. Severability. In the event that any one or more of the provisions of this
Agreement or any word, phrase, clause, sentence, or other portion thereof shall be deemed to be
illegal or unenforceable for any reasons, such provision or portion thereof shall be modified or
deleted in such a manner as to make this Agreement as modified legal and enforceable to the fullest
extent permitted under applicable laws.

     15. Entire Agreement. This Agreement constitutes the entire Agreement between the
parties hereto with regard to the subject matter hereof and supersedes all other agreements
relating to the subject matter hereof. There are no agreements, understandings, specific
restrictions, warranties or representations relating to said subject matter between the parties
other than those set forth herein or herein provided.

     16. Counterparts. This Agreement may be executed in two or more counterparts, each of
which will take effect as an original, and all of which shall evidence one and the same Agreement.

     17. Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be delivered by hand or mailed by registered or certified mail, return
receipt requested, first class postage prepaid, or sent by Federal Express or similarly recognized
overnight delivery service with receipt acknowledged, addressed as follows:

          If to Employee:

Jimmy M. Woodward

125 Parkway Drive

Thomasville, GA 31792

          If to Flowers:

Flowers Foods, Inc.

1919 Flowers Circle

Thomasville, Georgia 31757

Attn: General Counsel

          with a copy to:

Lizanne Thomas, Esq.

Jones Day

Suite 800

1420 Peachtree Street, N.E.

Atlanta, Georgia 30309-3053

     If delivered personally, the date on which a notice, request, instruction or document is
delivered shall be the date on which such delivery is made and, if delivered by mail or by
overnight delivery service, the date on which such notice, request, instruction or document is
received shall be the date of delivery. In the event any such notice, request, instruction or

7

 

document is mailed or shipped by overnight delivery service to a party in accordance with this
Section and is returned to the sender as nondeliverable, then such notice, request, instruction or
document shall be deemed to have been delivered or received on the fifth day following the deposit
of such notice, request, instruction, or document in the United States mails or the delivery to the
overnight delivery service. Any party may change its address specified for notices herein by
designating a new address by notice in accordance with this Section.

     18. Remedies. Each party acknowledges that a breach by any party of the covenants
contained in this Agreement cannot reasonably or adequately be compensated in damages in an action
at law; and that a breach by any party of any of his or its covenants contained in this Agreement
will cause the other party and their respective businesses irreparable injury and damage. By
reason thereof, each party shall be entitled, in addition to any other remedies he, she or it may
have under this Agreement or otherwise, to preliminary and permanent injunctive and other equitable
relief, without the necessity of providing any proof that monetary damages would be inadequate, to
prevent or curtail any breach of this Agreement by the other party; provided, however, that no
specification in this Agreement of a specific legal or equitable remedy shall be construed as a
waiver or prohibition against the pursuing of other legal or equitable remedies in the event of
such a breach.

     19. Amendment and Modification. This Agreement may only be amended, modified or
terminated prior to the end of its term by the mutual agreement of the parties.

     20. Governing Law. The terms of this Agreement shall be governed by and construed in
accordance with the laws of the State of Georgia.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first
above written.

	 	 	 	 	 
	 	“EMPLOYEE”

 	 
	 	/s/ Jimmy M. Woodward
 	 
	 	 	 
	 	JIMMY M. WOODWARD 	 
	 
	 	FLOWERS FOODS, INC.

 	 
	 	By:  	/s/ Stephen R. Avera
 	 
	 	 	Name:  	Stephen R. Avera 	 
	 	 	Title:  	Senior Vice President, Secretary & General
Counsel 	 

8

 

	 	 	 	 	 

SCHEDULE A

COMPENSATION SCHEDULE

     Compensation for the period from the Effective Date through February 28, 2010, is to be paid
consistent with Flowers’ then applicable payroll practices, including, without limitation,
applicable withholding. Compensation for the remainder of FY 2007 shall be based upon a per annum
salary of $383,089, and shall include the bonus otherwise payable to the Employee pursuant to the
bonus opportunity for FY 2007 previously communicated to Employee.

     For the period commencing FY 2008 and ending on February 28, 2010, compensation of $10,000 per
annum shall be paid on the following dates:

     December 30, 2007 —  $10,000.00

     January 3, 2009        — $10,000.00

     February 28, 2010    — $1,667.00

 

 

SCHEDULE B

PROSCRIBED TERRITORY

     The forty-eight states of the continental United States and the District of Columbia

10EX-10.2.2 AMENDMENT TO AMENDED LOAN/SECURITY AGRMT

 

Exhibit 10.2.2

FIRST AMENDMENT TO 

SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

AND CONSENT

     THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT AND CONSENT
(this “Amendment”) is made and entered into this 2nd day of October, 2006, by and among DELTA
APPAREL, INC., a Georgia corporation (“Delta”), M.J. SOFFE CO., a North Carolina corporation
(“Soffe”), JUNKFOOD CLOTHING COMPANY, a Georgia corporation (“JCC”; Delta, Soffe and JCC being
hereinafter collectively called “Borrowers” and individually a “Borrower”), the Required Lenders
(as defined in the Loan Agreement (defined below)), and WACHOVIA BANK, NATIONAL ASSOCIATION, a
national banking association, in its capacity as agent for Lenders (in such capacity, “Agent”).

Recitals:

     Borrowers are parties to a certain Second Amended and Restated Loan and Security Agreement
dated August 22, 2005 (as at any time amended, restated, modified or supplemented, the “Loan
Agreement”) with Agent and the various financial institutions party from time to time thereto
(“Lenders”), pursuant to which Agent and Lenders have made certain loans and other financial
accommodations available to Borrowers.

     Borrowers have advised Agent and Lenders of the proposed purchase by Delta of substantially
all of the tangible and intangible assets of Fun-Tees, Inc., a North Carolina corporation
(“Fun-Tees”), pursuant to the terms of that certain Asset Purchase Agreement dated August 17, 2006,
between Delta and Fun-Tees (the “Fun-Tees Asset Purchase Agreement”) for an aggregate purchase
price of approximately $20,000,000 (the “Fun-Tees Asset Acquisition”).

     Borrowers acknowledge that Section 9.10 of the Loan Agreement prohibits Borrowers from
purchasing all or a substantial part of the assets or property of any person, subject to certain
limited exceptions, none of which apply to the Fun-Tees Asset Acquisition. In light of the
prohibition contained in Section 9.10 of the Loan Agreement, Borrowers have requested that Agent
and the Required Lenders consent to the proposed Fun-Tees Asset Acquisition.

     The Lenders having acknowledged that this Amendment and the transactions consented to herein
and contemplated hereby require, pursuant to the terms of the Loan Agreement, only the consent of
the Required Lenders, (i) Agent and the Required Lenders have agreed to provide such consent, and
(ii) the Borrowers, Agent and the Required Lenders have agreed to amend the Loan Agreement, in each
case as set forth herein and subject to the terms and conditions contained herein, with the
effectiveness of such consent and amendments to be binding, pursuant to the terms of the Loan
Agreement, on all parties to the Loan Agreement, including all Lenders.

     NOW, THEREFORE, for TEN DOLLARS ($10.00) in hand paid and other good and valuable
consideration, the receipt and sufficiency of which are hereby severally acknowledged, the parties
hereto, intending to be legally bound hereby, agree as follows:

     1. Definitions. All capitalized terms used in this Amendment, unless otherwise
defined herein, shall have the meaning ascribed to such terms in the Loan Agreement.

 

 

     2. Amendments to Loan Agreement. The Loan Agreement is hereby amended as follows:

               (a) By adding the following new definitions to Section 1 of the Loan Agreement in proper
alphabetical sequence:

     “Alternate Excess Availability” shall mean the amount, as determined by Agent,
calculated at any time, equal to: (a) the Borrowing Base minus (b) the sum
of: (i) the amount of all then outstanding and unpaid Obligations, plus (ii)
the aggregate amount of all then outstanding and unpaid trade payables and other
obligations of Borrowers which are more than sixty (60) days past due as of such
time, plus (iii) the amount of checks issued by Borrowers to pay trade
payables and other obligations which are more than sixty (60) days past due as of
such time, but not yet sent.

     “First Amendment Date” shall mean October 2, 2006.

     “M&E Loan Amortization Amount” shall mean (A) $0 on any date prior to November
1, 2006, and (B) on or after November 1, 2006, the product of (i) $75,000 multiplied
by (ii) the cumulative number of months that have elapsed as of such date since the
First Amendment Date (a month being deemed to have elapsed on the first day of each
calendar month, beginning on, and including, November 1, 2006).

     “RE Loan Amortization Amount” shall mean (A) $0 on any date prior to November
1, 2006, and (B) on or after November 1, 2006, the product of (i) $87,500 multiplied
by (ii) the cumulative number of months that have elapsed as of such date since the
First Amendment Date (a month being deemed to have elapsed on the first day of each
calendar month, beginning on, and including, November 1, 2006).

     “Unfinanced Capital Expenditures” shall mean Capital Expenditures made and not
financed with the proceeds of money borrowed.

               (b) By deleting the definitions of “Borrowing Base,” “Fixed Charges” and “Inventory Loan
Limit” contained in Section 1 of the Loan Agreement and by substituting in lieu thereof the
following new definitions:

               “Borrowing Base” shall mean, at any time, an amount equal:

                    (a) the sum of:

     (i) eighty-five percent (85%) of the Net Amount of the Eligible
Accounts, plus

     (ii) the lesser of (1) the lesser of (A) eighty-five percent
(85%) of the Amount Due From Factor on such date that is
attributable to Factored Accounts that are not Client Risk Accounts
or (B) $5,000,000, or (2) the lesser of (X) eighty-five percent
(85%) of the Net Amount of Eligible Factored Accounts or (Y)
$5,000,000, plus

     (iii) the lesser of:

	 	(1)	 	the Inventory Loan Limit, or

 - 2 - 

 

	 	(2)	 	the lesser of (A) sixty percent (60%) of the Value
of Eligible Inventory consisting of finished
goods, Borrowers’ raw materials consisting of
raw cotton and yarn for such finished goods and
finished yarn categorized as work-in-process; or
(B) eighty-five percent (85%) of the Net Orderly
Liquidation Value of such Eligible Inventory,
plus

	 	(iv)	 	to the extent greater than zero, the lesser of:

	(1)       	(A)	 	 the Fixed Asset Loan Limit, minus
	 
	 	(B)	 	the M&E Loan Amortization Amount
plus the RE Loan Amortization
Amount, or
	 
	(2)       	(A)	 	 eighty-five percent (85%) of the appraised Net
Orderly Liquidation Value of Eligible Equipment
plus eighty percent (80%) of the
appraised fair market value of the Eligible Real
Property determined from time to time by a
qualified appraiser acceptable to Agent (subject
to the provisions of Section 7.4), minus
	 
	 	(B)	 	the M&E Loan Amortization Amount
plus the RE Loan Amortization
Amount, plus

	 	(v)	 	the result of:

	 	(1)	 	the Tennessee Asset Loan Limit, minus
	 
	 	(2)	 	the Tennessee Asset Loan Amortization Amount,
minus

	 	(b)	 	the Reserves.

     “Fixed Charges” for any Person during any period shall mean the sum of, without
duplication, (a) cash interest paid during such period, (b) all Unfinanced Capital
Expenditures made during such period, (c) all regularly scheduled (as determined at
the beginning of the respective period) principal payments of Indebtedness for
borrowed money and Indebtedness with respect to the Capital Leases (and without
duplicating in items (a) and (c) of this definition, the interest component with
respect to Indebtedness under Capital Leases), (d) an amount equal to the product
of: (i) $265,278 (which represents the aggregate monthly reduction of the Fixed
Asset Loan Limit and the Tennessee Asset Loan Limit in effect under this Agreement
prior to the First

 - 3 - 

 

Amendment Date) multiplied by the (ii) the cumulative number of months that
elapsed during such period of determination prior to the First Amendment Date, (e)
an amount equal to the product of: (i) $177,778 (which represents the aggregate
monthly reduction of the Fixed Asset Loan Limit and the Tennessee Asset Loan Limit
currently in effect under this Agreement) multiplied by the (ii) the cumulative
number of months that elapsed during such period of determination following the
First Amendment Date and (f) the amount of any taxes paid in cash, cash dividends to
the equity holders of such Person, other distributions to equity holders of such
Person, and redemptions with respect to the Capital Stock of such Person (including,
but not limited to stock repurchases) during the period in question.

                    “Inventory Loan Limit” shall mean $50,000,000.

                    (c) By deleting the definition of “Fixed Asset Loan Amortization Amount” contained in Section
1 of the Loan Agreement in its entirety

                    (d) By deleting Section 4.3 of the the Loan Agreement in its entirety and by substituting the
following in lieu thereof:

     4.3 Conditions Subsequent to All Loans and Letters of Credit.
The obligation of Agent and Lenders to continue to make Loans and/or provide Letters
of Credit to Borrowers is subject to the fulfillment, on or before the date
appliable thereto, of each of the conditions subsequent set forth below (the failure
by Borrowers to so perform or cause to be performed constituting an Event of
Default):

                    (a) on or before November 15, 2006, Borrowers shall deliver to Agent, in form
and substance satisfactory to Agent, a duly executed amendment to the Mortgage
covering Real Property located in Fayette County, Alabama (the “Alabama Mortgage”)
which gives effect to the transactions contemplated by this Agreement;

                    (b) on or before November 15, 2006, Borrowers shall, if deemed necessary by
Agent, deliver to Agent a mortgage tax order from the Alabama Department of Revenue
with respect to recording taxes payable in connection with the recordation of the
amendment to the Alabama Mortgage contemplated hereinabove; and

                    (c) on or before November 15, 2006, Borrowers shall deliver to Agent, in form
and substance satisfactory to Agent, a valid, effective and fully paid endorsement
to Agent’s mortgagee title insurance policy with respect to the Alabama Mortgage,
which endorsement shall give effect to the transactions contemplated by this
Agreement, shall “down-date” the effective date of the title insurance policy to
which it relates and shall not have a specific survey exception.

                    (e) By deleting clause (a) of Section 6.3 of the the Loan Agreement and by substituting the
following new clause (a) in lieu thereof:

                    (a) Borrowers shall establish and maintain, at its expense, blocked accounts or
lockboxes and related blocked accounts (in either case, “Blocked Accounts”), as
Agent may specify, with such banks as are acceptable to Agent into which Borrowers
shall promptly deposit and direct their account debtors to directly remit

 - 4 - 

 

all payments on Receivables and all payments constituting proceeds of Inventory
or other Collateral in the identical form in which such payments are made, whether
by cash, check or other manner. The banks at which the Blocked Accounts are
established shall enter into an agreement, in form and substance satisfactory to
Agent, providing that all items received or deposited in the Blocked Accounts are
the property of Agent, that the depository bank has no lien upon, or right to setoff
against, the Blocked Accounts, the items received for deposit therein, or the funds
from time to time on deposit therein and that the depository bank will wire, or
otherwise transfer, in immediately available funds, on a daily basis, all funds
received or deposited into the Blocked Accounts to such bank account of Agent as
Agent may from time to time designate for such purpose (“Agent Payment Account”).
Agent shall instruct the depository banks at which the Blocked Accounts are
maintained to transfer the funds on deposit in the Blocked Accounts to such
operating bank account of Borrowers as Administrative Borrower may specify in
writing to Agent until such time as Agent shall notify the depository bank
otherwise. Agent may notify the depository banks at which the Blocked Accounts are
maintained that the Blocked Account Agreements are effective and may instruct such
banks to transfer all funds received or deposited into the Blocked Accounts to the
Agent Payment Account at any time that an Event of Default, or act, condition or
event which with notice or passage of time or both would constitute an Event of
Default, shall exist or have occurred, and, upon such notice, Borrowers agree that
all payments made to such Blocked Accounts or other funds received and collected by
Agent or any Lender, whether in respect of the Receivables, as proceeds of Inventory
or other Collateral or otherwise shall be treated as payments to Agent and Lenders
in respect of the Obligations and therefore shall constitute the property of Agent
and Lenders to the extent of the then outstanding Obligations.

                    (f) By deleting clause (d) of Section 7.3 of the Loan Agreement and by substituting the
following new clause (d) in lieu thereof:

                    (d) each Borrower shall, at its expense, at any time or times as Agent may
request upon the occurrence or during the existence of an Event of Default, deliver
or cause to be delivered to Agent written reports or appraisals as to the Inventory
in form, scope and methodology acceptable to Agent and by an appraiser acceptable to
Agent, addressed to Agent and Lenders upon which Agent and Lenders are expressly
permitted to rely;

                    (g) By deleting clause (a) of Section 7.4 of the Loan Agreement and by substituting the
following new clause (a) in lieu thereof:

                    (a) each Borrower shall, at its expense, at any time or times as Agent may
request upon the occurrence or during the existence of an Event of Default, deliver
or cause to be delivered to Agent written reports or appraisals as to the Equipment
and/or the Real Property in form, scope and methodology acceptable to Agent and by
an appraiser acceptable to Agent, addressed to Agent and Lenders and upon which
Agent and Lenders are expressly permitted to rely;

                    (h) By adding the following new clause (f) to Section 9.6 of the the Loan Agreement in proper
sequence:

 - 5 - 

 

                    (f) At any time or times that, pursuant to the terms of Section 9.21 hereof,
the Fixed Charge Coverage Ratio is not in effect, Borrowers shall, for informational
purposes only, no later than forty-five (45) days following the last day of each
fiscal quarter of Borrowers, report Borrowers’ calculation of the Fixed Charge
Coverage Ratio for the four (4) fiscal quarter period most recently ended.

                    (i) By adding the following new clause (f) to Section 9.9 of the the Loan Agreement in proper
sequence:

                    (f) Indebtedness incurred by the Honduras Subsidiaries during the period from
the First Amendment Date through the second anniversary thereof with respect to the
purchase of certain Equipment for use in the operations of the Honduras
Subsidiaries, in an aggregate principal amount not to exceed $15,000,000.

                    (j) By deleting clauses (b) and (c) of Section 9.11 of the Loan Agreement and by substituting
the following new clauses (b) and (c) in lieu thereof:

                    (b) such Borrower may pay cash dividends or distributions from funds legally
available therefor to its shareholders from time to time in amounts such that the
aggregate amount paid to its shareholders since May 16, 2000 does not exceed
twenty-five percent (25%) of such Borrower’s cumulative Net Income for the period
from May 16, 2000 through the date of determination, provided, that,
(i) Agent shall have received at least ten (10) days prior to any payment thereof, a
certificate signed by such Borrower’s chief financial officer (A) setting forth such
Borrower’s Net Income for the applicable period and (B) certifying that such
dividend or distribution is not in violation of applicable law or any other
agreement to which such Borrower is a party or by which it is bound and (ii) as of
the date of any such payment and after giving effect thereto, no Default or Event of
Default shall exist.

                    (c) Reserved.

                    (k) By deleting Section 9.21 of the Loan Agreement in its entirety and by substituting the
following in lieu thereof:

                    9.21 Fixed Charge Coverage Ratio. If at any time during any month,
Alternate Excess Availability as determined by Agent is less than $7,500,000,
Borrowers shall not, as of the end of such month, permit the Fixed Charge Coverage
Ratio for the twelve (12) month period most recently ended to be less than 1.15 to
1.0.

                    (l) By deleting clause (a) of Section 13.1 of the Loan Agreement and by substituting the
following new clause (a) in lieu thereof:

                    (a) This Agreement and the other Financing Agreements shall become effective as
of the date set forth on the first page hereof and shall continue in full force and
effect for a term ending on August 22, 2008, unless sooner terminated pursuant to
the terms hereof. Upon the effective date of termination of the Financing
Agreements, Borrowers shall pay to Agent, in full, all outstanding and unpaid
Obligations and shall furnish cash collateral to Agent in such amounts as Agent
determines are reasonably necessary to secure Agent and Lenders from loss, cost,
damage or expense, including

 - 6 - 

 

reasonable attorneys’ fees actually incurred and legal expenses, in connection
with any contingent Obligations, including issued and outstanding Letters of Credit
and checks or other payments provisionally credited to the Obligations and/or as to
which Agent or any Lender has not yet received final and indefeasible payment. Such
payments in respect of the Obligations and cash collateral shall be remitted by wire
transfer in Federal funds to such bank account of Agent, as Agent may, in its
discretion, designate in writing to Administrative Borrower for such purpose.
Interest shall be due until and including the next Business Day, if the amounts so
paid by Borrowers to the bank account designated by Agent are received in such bank
account later than 12:00 noon, Atlanta, Georgia time.

          3. Consent to Fun-Tees Asset Acquisition. Subject to the terms and conditions
contained herein, Agent and the Required Lenders hereby consent to the Fun-Tees Asset Acquisition,
and hereby agree to permit the Loans made under the Loan Agreement to be used to pay the cash
portion of the purchase price under the Fun-Tees Asset Purchase Agreement.

          4. Additional Covenants and Agreements. To induce Agent and the Required Lenders to
enter into this Amendment and to consent to the Fun-Tees Asset Acquisition under the terms and
conditions provided herein, each Borrower covenants and agrees that Agent shall be permitted to
conduct the due diligence which Agent, in the exercise of its reasonable credit judgment, requires
with respect to Fun-Tees and the Fun-Tees Asset Acquisition (including, without limitation, a field
examination of Fun-Tees’ books, records and collateral, which shall be completed no later than
sixty (60) days after the consummation of the Fun-Tees Asset Acquisition, and the results of which
shall be satisfactory to Agent in its sole discretion), all of which due diligence shall be
conducted at Borrowers’ sole cost and expense.

          5. Ratification and Reaffirmation. Each Borrower hereby ratifies and reaffirms the
Obligations, each of the Financing Agreements and all of such Borrower’s covenants, duties,
indebtedness and liabilities under the Financing Agreements.

          6. Acknowledgments and Stipulations. Each Borrower acknowledges and stipulates that
the Loan Agreement and the other Financing Agreements executed by such Borrower are legal, valid
and binding obligations of such Borrower that are enforceable against such Borrower in accordance
with the terms thereof; all of the Obligations are owing and payable without defense, offset or
counterclaim (and to the extent there exists any such defense, offset or counterclaim on the date
hereof, the same is hereby waived by such Borrower); the security interests and liens granted by
such Borrower in favor of Agent are duly perfected, first priority security interests and liens;
and the unpaid principal amount of the Loans on and as of October 2, 2006, totaled $49,014,519.

          7. Representations and Warranties. Each Borrower represents and warrants to Agent and
Lenders, to induce Agent and the Required Lenders to enter into this Amendment, that no Default or
Event of Default exists on the date hereof; the execution, delivery and performance of this
Amendment have been duly authorized by all requisite corporate action on the part of such Borrower
and this Amendment has been duly executed and delivered by Borrower; the aggregate value of
Borrowers’ Equipment on the date hereof is equal to or greater than the aggregate value of
Borrowers’ Equipment on August 22, 2005; and all of the representations and warranties made by
such Borrower in the Loan Agreement are true and correct on and as of the date hereof.

          8. Reference to Loan Agreement. Upon the effectiveness of this Amendment, each
reference in the Loan Agreement to “this Agreement,” “hereunder,” or words of like import shall
mean and be a reference to the Loan Agreement, as amended by this Amendment.

 - 7 - 

 

          9. Breach of Amendment. This Amendment shall be part of the Loan Agreement and a
breach of any representation, warranty or covenant herein shall constitute an Event of Default.

          10. Conditions Precedent. The effectiveness of the amendments contained in Section 2
hereof and the consent to the Fun-Tees Asset Acquisition contained in Section 3 hereof are subject
to the satisfaction of each of the following conditions precedent, in form and substance
satisfactory to Agent, unless satisfaction thereof is specifically waived in writing by Agent:

                    (a) Agent shall have received from Borrowers true, accurate and complete copies of the
Fun-Tees Asset Purchase Agreement and all other documents, agreements or instruments related to the
Fun-Tees Asset Acquisition (the “Fun-Tees Purchase Documents”), each in form and substance
satisfactory to Agent in its sole discretion and assurances satisfactory to Agent that the Fun-Tees
Asset Acquisition will be consummated in accordance with their terms;

                    (b) Any and all changes to the corporate, capital and ownership structures of any Obligor
resulting from the transactions contemplated by the Fun-Tees Purchase Documents must be acceptable
to Agent in its sole discretion;

                    (c) Borrowers shall have obtained all government, shareholder and third-party consents deemed
necessary or appropriate by Agent, or as otherwise required by the Fun-Tees Purchase Documents;

                    (d) Agent shall have received (i) complete lien and other search results with respect to
Fun-Tees and (ii) evidence satisfactory to Agent, in its sole discretion, that, after giving effect
to the transactions contemplated by the Fun-Tees Purchase Documents, Agent will have, for itself
and the ratable benefit of Lenders, a perfected, first priority security interest in and lien upon
all assets acquired by Delta from Fun-Tees pursuant to the Fun-Tees Purchase Documents.

                    (e) Agent shall have received duly executed counterparts of each of the following documents,
instruments, and agreements, each in the form provided by Agent, as well as any other documents,
instruments or agreements requested by Agent:

                    (i) a First Amendment to Amended and Restated Trademark Security Agreement, pursuant to
which Agent shall be granted a first priority security interest in, and lien upon, all
trademarks acquired by Delta pursuant to the Fun-Tees Acquisition;

                    (ii) a First Amendment to Amended and Restated Pledge Agreement, pursuant to which
Delta shall pledge to Agent (A) all of the issued and outstanding equity interests in the
domestic Subsidiaries of Fun-Tees and (B) sixty-five percent (65%) of the total issued and
outstanding equity interests in the foreign Subsidiaries of Fun-Tees acquired by Delta
pursuant to the Fun-Tees Acquisition (such equity interests shall be collectively referred
to as the “Acquired Equity Interests”);

                    (iii) Stock Powers, duly executed in blank, with respect to all stock certificates
evidencing the Acquired Equity Interests (to be accompanied by receipt of all original stock
certificates evidencing such Acquired Equity Interests pursuant to escrow arrangements
acceptable to Agent);

 - 8 - 

 

                    (iv) a Collateral Assignment of Rights and Sums Due Under Asset Purchase Agreement,
executed by Delta and acknowledged by Fun-Tees, pursuant to which Delta shall collaterally
assign to Agent all rights and sums due from Fun-Tees under the Fun-Tees Purchase Documents;
and

                    (v) a Certificate of Solvency, pursuant to which Borrowers shall certify on a pro forma
basis that, after giving effect to the Fun-Tees Asset Acquisition, each Borrower will be
Solvent;

                    (vi) a Landlord Waiver, executed by Fun-Tees, Delta and Agent, with respect to the
premises of Fun-Tees located at 245 Manor Avenue, Concord, North Carolina 28026;

                    (vii) a Processor Agreement, executed by Fun-Tees, Delta and Agent, covering all
Inventory of Borrowers with respect to which Fun-Tees will be performing dyeing and other
finishing work on behalf of Borrowers;

                    (viii) Secretary’s Certificate of Board of Director Resolutions from each Borrower; and

                    (ix) opinion letters from each of Borrowers’ legal counsel and Fun-Tees’ legal counsel
containing such opinions and reliance language in favor of Agent and Lenders as Agent may
deem necessary or desirable.

                    (f) No material adverse change shall have occurred with respect to the assets, liabilities,
business, condition (financial or otherwise), business prospects or results of operations of any
Borrower since July 1, 2006, or of Fun-Tees since December 31, 2005;

                    (g) Agent shall have received such historic financial statements, pro forma financial
statements and projections with respect to Borrowers and Fun-Tees as Agent deems appropriate, in
each instance in form and substance acceptable to Agent;

                    (h) Agent shall have received from Borrowers a duly executed counterpart of this Amendment
from each of the parties hereto; and

                    (i) No Default or Event of Default shall exist at the time of the Fun-Tees Asset Acquisition
and after giving effect thereto.

          11. Expenses of Agent. Borrowers agree to pay, on demand, all costs and expenses
incurred by Agent in connection with the preparation, negotiation and execution of this Amendment
and any other Financing Agreements executed pursuant hereto and any and all amendments,
modifications, and supplements thereto, including, without limitation, the costs and fees of
Agent’s legal counsel and any taxes or expenses associated with or incurred in connection with any
instrument or agreement referred to herein or contemplated hereby.

          12. Effectiveness; Governing Law. This Amendment shall be effective upon acceptance
by Agent and the Required Lenders (notice of which acceptance is hereby waived), whereupon the same
shall be governed by and construed in accordance with the internal laws of the State of Georgia.

          13. Successors and Assigns. This Amendment shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

 - 9 - 

 

          14. No Novation, etc.. Except as otherwise expressly provided in this Amendment,
nothing herein shall be deemed to amend or modify any provision of the Loan Agreement or any of the
other Financing Agreements, each of which shall remain in full force and effect. This Amendment is
not intended to be, nor shall it be construed to create, a novation or accord and satisfaction, and
the Loan Agreement as herein modified shall continue in full force and effect.

          15. Counterparts; Telecopied Signatures. This Amendment may be executed in any number
of counterparts and by different parties to this Amendment on separate counterparts, each of
which, when so executed, shall be deemed an original, but all such counterparts shall constitute
one and the same agreement. Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

          16. Further Assurances. Each Borrower agrees to take such further actions as Agent
shall reasonably request from time to time in connection herewith to evidence or give effect to the
amendments set forth herein or any of the transactions contemplated hereby.

          17. Section Titles. Section titles and references used in this Amendment shall be
without substantive meaning or content of any kind whatsoever and are not a part of the agreements
among the parties hereto.

          18. Release of Claims. To induce Agent and the Required Lenders to enter into this
Amendment, each Borrower hereby releases, acquits and forever discharges Agent and Lenders, and all
officers, directors, agents, employees, successors and assigns of Agent and Lenders, from any and
all liabilities, claims, demands, actions or causes of action of any kind or nature (if there be
any), whether absolute or contingent, disputed or undisputed, at law or in equity, or known or
unknown, that such Borrower now has or ever had against Agent or any Lender arising under or in
connection with any of the Financing Agreements or otherwise. Each Borrower represents and
warrants to Agent and Lenders that such Borrower has not transferred or assigned to any Person any
claim that such Borrower ever had or claimed to have against Agent or any Lender.

          19. Waiver of Jury Trial. To the fullest extent permitted by applicable law, the
parties hereto each hereby waives the right to trial by jury in any action, suit, counterclaim or
proceeding arising out of or related to this Amendment.

[Remainder of page intentionally left blank.]

 - 10 - 

 

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

BORROWERS:

	 	 	 	 	 	 	 	 	 
	ATTEST:	 	 	 	DELTA APPAREL, INC.	 	 
	 	 	 
	 	 	 	 	 	 
	 	 	 

	 	By:	 	 	 	 
	 
	 	 

	 	 	 	 	 	 
	Secretary
	 	 

	 	 	 	Name:                                                             	 	 
	[CORPORATE SEAL]
	 	 

	 	 	 	Title:                                                             	 	 
	 	 	 
	 	 	 	 	 	 
	ATTEST:	 	 	 	M.J. SOFFE CO.	 	 
	 	 	 
	 	 	 	 	 	 
	 	 	 

	 	By:	 	 	 	 
	 
	 	 

	 	 	 	 	 	 
	Secretary
	 	 

	 	 	 	Name:                                                             	 	 
	[CORPORATE SEAL]
	 	 

	 	 	 	Title:                                                             	 	 
	 	 	 
	 	 	 	 	 	 
	ATTEST:	 	 	 	JUNKFOOD CLOTHING COMPANY	 	 
	 	 	 
	 	 	 	 	 	 
	 	 	 

	 	By:	 	 	 	 
	 
	 	 

	 	 	 	 	 	 
	Secretary
	 	 

	 	 	 	Name:                                                             	 	 
	[CORPORATE SEAL]
	 	 

	 	 	 	Title:                                                             	 	 

[Signatures continued on following page.]

 

 

	 	 	 	 	 	 	 
	 	 	AGENT:	 	 
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:                                                             	 	 
	 

	 	 	 	Title:                                                             	 	 

[Signatures continued on following page.]

 

 

	 	 	 	 	 	 	 
	 	 	REQUIRED LENDERS:	 	 
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:                                                             	 	 
	 

	 	 	 	Title:                                                             	 	 

[Signatures continued on following page.]

 

 

	 	 	 	 	 	 	 
	 	 	SIEMENS FINANCIAL SERVICES, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:                                                             	 	 
	 

	 	 	 	Title:                                                             	 	 

[Signatures continued on following page.]

 

 

	 	 	 	 	 	 	 
	 	 	IDB BANK, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:                                                             	 	 
	 

	 	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]