Document:

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                                  EXHIBIT 10(a)

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (this "AGREEMENT") is entered into effective the
23rd day of October, 2000, by and between Franklin Savings and Loan Company, a
savings and loan association incorporated under the laws of the State of Ohio
(the "EMPLOYER"), the principal office of which is located at Cincinnati, Ohio,
and Thomas H. Siemers (the "EMPLOYEE"), an individual whose residence address is
6927 Whippoorwill Drive, Cincinnati, Ohio 45230;

                                   WITNESSETH:

     WHEREAS, the EMPLOYEE has been employed by the EMPLOYER for 51 years and is
currently the President and Chief Executive Officer of the EMPLOYER; and

     WHEREAS, as a result of the skill, knowledge, experience and performance of
the EMPLOYEE, the EMPLOYER desires to continue to retain the services of the
EMPLOYEE as the President and Chief Executive Officer in accordance with the
terms and conditions of this AGREEMENT;

     NOW, THEREFORE, in consideration of the mutual covenants herein contained
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the EMPLOYER and the EMPLOYEE agree as follows:

     1. Employment and Term. The EMPLOYEE is employed as the President and Chief
Executive Officer of the EMPLOYER, and the EMPLOYEE hereby accepts employment as
the President and Chief Executive Officer of the EMPLOYER, upon the terms and
conditions of this AGREEMENT. The term of employment shall be for the period
commencing on the date hereof and shall end on October 22, 2003 (the "TERM").
Prior to the end of each year of the TERM, the AGREEMENT may be extended for
periods of one year each by the EMPLOYER's Board of Directors ("BOARD") at its
sole and exclusive discretion, subject to the EMPLOYEE's acceptance thereof.
Prior to granting any such extension, the BOARD will conduct a performance
evaluation of the EMPLOYEE, and the results of such review shall be noted in the
minutes of the meeting of the BOARD (the "ANNUAL REVIEW"). The TERM of this
AGREEMENT, together with each extension period, is hereinafter referred to as
the "EMPLOYMENT TERM".

     2. Duties of EMPLOYEE.

          (a) General Duties and Responsibilities. The EMPLOYEE shall serve as
the President and Chief Executive Officer of the EMPLOYER and shall perform the
duties and responsibilities customary for such offices to the best of his
ability and in accordance with the policies established by the BOARD and all
applicable laws and regulations. The EMPLOYEE shall perform such other duties
not inconsistent with his position as may be assigned to him from time to time
by the BOARD; provided, however, that during the EMPLOYMENT TERM, the EMPLOYER
shall employ the EMPLOYEE in a senior executive capacity without diminishment of
the importance or prestige of his position.

          (b) Devotion of Time to the EMPLOYER's Business. The EMPLOYEE shall
devote his entire productive time, ability and attention during normal business
hours throughout the EMPLOYMENT TERM to the faithful performance of his duties
under this AGREEMENT. The EMPLOYEE shall not directly or indirectly render any
services of a business, commercial or professional nature to any person or
organization without the prior written consent of the BOARD; provided, however,
that the EMPLOYEE shall not be precluded from: (i) vacations and other leave
time in accordance with Section 3(d) hereof; (ii) reasonable participation in
community, civic, charitable or similar organizations; (iii) reasonable
participation in industry-related activities including, but not limited to,
attending industry trade association (national and state) conferences and
committee meetings, and holding positions of responsibility therein; (iv)
serving as an officer and/or director of the EMPLOYER's parent or subsidiaries
and receiving and retaining compensation, directors' fees and other benefits
therefrom; or (v) the pursuit of personal investments that do not interfere or
conflict with the performance of the EMPLOYEE's duties for the EMPLOYER.

<PAGE>

     3. Compensation, Benefits and Reimbursements.

          (a) Salary. The EMPLOYEE shall receive an annual salary payable in
equal installments not less often than monthly. The amount of the annual salary
shall be $208,000 until changed by the BOARD. The amount of the EMPLOYEE's
annual salary shall be reviewed by the BOARD in connection with the ANNUAL
REVIEW and shall be set at an amount not less than $208,000, based upon the
EMPLOYEE's individual performance and the overall profitability and financial
condition of the EMPLOYER and such other factors as the BOARD may deem relevant.
Any directors' fees received by the EMPLOYEE, whether paid by the EMPLOYER or
any other entity, shall be in addition to the salary provided for in this
AGREEMENT and may be retained by the EMPLOYEE in their entirety.

          (b) Employee Benefit Programs. During the EMPLOYMENT TERM, the
EMPLOYEE shall be entitled to participate in all formally established employee
benefit, bonus, retirement plans and similar programs that are maintained by the
EMPLOYER from time to time, including programs regarding group health,
disability or life insurance, salary continuation insurance, reimbursement of
membership fees in civic, social and professional organizations, employee stock
ownership plan, stock option plan, pension or profit-sharing plan, and all
employee benefit plans or programs hereafter adopted in writing by the BOARD,
for which senior management personnel are eligible (collectively, the "BENEFIT
PLANS"). Notwithstanding the foregoing, the EMPLOYER may discontinue at any time
any such BENEFIT PLANS now existing or hereafter adopted, to the extent
permitted by the terms of such plans, and shall not be required to compensate
the EMPLOYEE for the elimination of any such BENEFIT PLANS.

          (c) Vacation and Sick Leave. The EMPLOYEE shall be entitled, without
loss of pay, to be absent voluntarily from the performance of his duties under
this AGREEMENT, subject to the following conditions:

               (i) The EMPLOYEE shall be entitled to an annual vacation, the
duration of which shall not be less than four weeks each calendar year;

               (ii) Vacation time shall be scheduled by the EMPLOYEE in a
reasonable manner and shall be subject to approval by the BOARD. The EMPLOYEE
shall not be entitled to receive any additional compensation from the EMPLOYER
in the event of his failure to take the full allotment of vacation time in any
calendar year, nor shall unused vacation time be carried over into any
succeeding calendar year; and

               (iii) The EMPLOYEE shall be entitled to annual sick leave as
established by the BOARD for senior management officials of the EMPLOYER. In the
event that any sick leave time shall not have been used during any calendar
year, such leave shall accrue to subsequent calendar years only to the extent
authorized by the BOARD. Upon termination of his employment, the EMPLOYEE shall
not be entitled to receive any additional compensation from the EMPLOYER for
unused sick leave.

          (d) Disability.

               (i) In the event of the disability (as hereinafter defined) of
the EMPLOYEE, the EMPLOYER shall continue to pay the EMPLOYEE the salary
provided for in Section 3(a) of this AGREEMENT during the period of his
disability. Notwithstanding the foregoing, if the EMPLOYEE is disabled for a
continuous period exceeding six (6) calendar months, the EMPLOYER may, at its
election, terminate this AGREEMENT, in which event the EMPLOYEE shall thereafter
be entitled to receive a monthly disability benefit equal to seventy-five
percent (75%) of his monthly salary at the time he became disabled. Payment of
such disability benefit shall continue for twelve (12) consecutive months, after
which the monthly benefit shall be reduced to fifty percent (50%) of the
EMPLOYEE's monthly salary at the time he became disabled. The payment of
disability benefits under this Section 3(d) shall cease upon the earlier of (A)
the death of the EMPLOYEE, and (B) the end of the EMPLOYMENT TERM. Any amounts
payable under this Section 3(d) shall be reduced by any amounts paid to the
EMPLOYEE under any other disability program maintained by the EMPLOYER.

               (ii) During the period the EMPLOYEE is entitled to receive
payments under this Section 3(d), the EMPLOYEE shall, to the extent that he is
physically and mentally able to do so, furnish information and assistance to the
EMPLOYER, and, upon reasonable request on behalf of the BOARD, make himself
available to the EMPLOYER, from time to time, to undertake reasonable
assignments consistent with his prior position and his physical and mental
health. During such period of service, the EMPLOYEE shall be

<PAGE>

responsible and report to, and be subject to the supervision of, the BOARD as to
the method and manner in which he shall perform such assignments.

               (iii) As used in this AGREEMENT, the term "disability" shall mean
the complete inability of the EMPLOYEE to perform his duties under this
AGREEMENT as determined by an independent physician selected with the approval
of the EMPLOYER and the EMPLOYEE.

          (e) Expenses. The EMPLOYER shall pay or reimburse the EMPLOYEE for all
reasonable travel, entertainment and miscellaneous expenses incurred in
connection with the performance of his duties under this AGREEMENT including
participation in industry-related activities. Such reimbursement shall be made
in accordance with the existing policies and procedures of the EMPLOYER
pertaining to reimbursement of expenses to senior management officials.

          (f) Other Benefits. The EMPLOYEE shall be entitled to the full-time
use of a company-owned automobile. The EMPLOYER shall be responsible for the
cost of obtaining collision and liability insurance for the automobile and shall
pay for all other costs of operating the automobile including fuel, maintenance
and repair. During the EMPLOYMENT TERM, the EMPLOYER shall pay the EMPLOYEE's
membership dues at the country club of his choice.

     4. Termination of Employment. The EMPLOYER may terminate the employment of
the EMPLOYEE at any time during the EMPLOYMENT TERM. In the event that the
EMPLOYER terminates the employment of the EMPLOYEE during the EMPLOYMENT TERM
because of the EMPLOYEE's personal dishonesty, incompetence, willful misconduct,
breach of fiduciary duty involving personal profit, intentional failure or
refusal to perform the duties and responsibilities assigned in this AGREEMENT,
willful violation of any law, rule, regulation or final cease-and-desist order
(other than traffic violations or similar offenses), conviction of a felony or
for fraud or embezzlement, or material breach of any provision of this AGREEMENT
(collectively, "JUST CAUSE"), the EMPLOYEE shall have no right to receive any
compensation or other benefits for any period after such termination. If the
EMPLOYER terminates the employment of the EMPLOYEE during the EMPLOYMENT TERM
for any reason other than JUST CAUSE, the EMPLOYEE, depending on the
circumstances, shall be entitled to the following:

          (a) Termination After CHANGE OF CONTROL. If, in connection with or
within one year of a CHANGE OF CONTROL (hereinafter defined) of the EMPLOYER,
the EMPLOYEE elects to terminate his employment or the EMPLOYER terminates the
employment of the EMPLOYEE for any reason other than JUST CAUSE, then the
following shall occur:

               (i) The EMPLOYER shall promptly pay to the EMPLOYEE or to his
beneficiaries, dependents or estate an amount equal to three times the
EMPLOYEE's "average annual compensation" as such term is defined in Section 280G
of the Internal Revenue Code of 1986, as amended.

               (ii) The EMPLOYEE, his dependents, beneficiaries and estate shall
continue to be covered under any group health plan maintained by the EMPLOYER at
the EMPLOYER's expense and as if the EMPLOYEE were still employed under this
AGREEMENT, until the earliest of (A) the end of the EMPLOYMENT TERM or (B) the
date on which the EMPLOYEE is included in another employer's group health plan
providing comparable benefits and coverage.

          (b) Termination without CHANGE OF CONTROL. In the event the EMPLOYER
terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE,
the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the
EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided
pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a
period of 36 months; (ii) provide to the EMPLOYEE at the EMPLOYER's expense,
group health benefits substantially equal to those being provided to the
EMPLOYEE at the date of termination of his employment until the earliest to
occur of (A) the end of the EMPLOYMENT TERM under this AGREEMENT, or (B) the
date the EMPLOYEE is included in another employer's group health plan providing
comparable benefits and coverage and (iii) pay all directors' fees to which
EMPLOYEE would otherwise have been entitled if he had remained a director of the
EMPLOYER for a period of 36 months, payable monthly. In addition, the EMPLOYEE
shall receive amounts equal to directors' fees of the parent or any subsidiaries
of the EMPLOYER to which the EMPLOYEE would otherwise have been entitled if he
had remained a director of such parent or subsidiaries for a period of 36
months.

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          (c) Death of the EMPLOYEE. The EMPLOYMENT TERM shall automatically
terminate upon the death of the EMPLOYEE. In the event of such death, the
EMPLOYEE's estate shall be entitled to receive the compensation due the EMPLOYEE
through the last day of the calendar month in which the death occurred.

          (d) No Mitigation. The EMPLOYEE shall not be required to mitigate the
amount of any payment provided for in this AGREEMENT, whether in this Section 4
or elsewhere in this AGREEMENT, by seeking other employment or otherwise, nor
shall any amounts received from other employment or otherwise by the EMPLOYEE
offset in any manner the obligations of the EMPLOYER hereunder, except as
specifically stated in (a)(ii) and (b)(ii) of this Section 4.

          (e) "Golden Parachute" Provision. Any payments made to the EMPLOYEE
pursuant to this AGREEMENT or otherwise are subject to and conditioned upon
their compliance with 12 U.S.C.ss.1828(k) and any regulations promulgated
thereunder.

          (f) Definition of "CHANGE OF CONTROL". A "CHANGE OF CONTROL" shall
mean any one of the following events; (i) the acquisition of ownership or power
to vote more than 25% of the voting stock of the EMPLOYER or its parent company;
(ii) the acquisition of the ability to control the election of a majority of the
directors of the EMPLOYER or its parent company; (iii) during any period of up
to two consecutive years, individuals who at the beginning of such period
constitute the board of directors of the EMPLOYER or its parent company cease
for any reason to constitute at least two-thirds thereof; provided, however,
that any individual whose election or nomination for election as a member of the
board of directors of the EMPLOYER or its parent company was approved by a vote
of at least two-thirds of the directors then in office shall be considered to
have continued to be a member of the board of directors of the EMPLOYER or its
parent company; or (iv) the acquisition by any person or entity of "conclusive
control" of the EMPLOYER within the meaning of 12 C.F.R. ss.574.4(a), or the
acquisition by any person or entity of "rebuttable control" within the meaning
of 12 C.F.R. ss.574.4(b) that has not been rebutted in accordance with 12 C.F.R.
ss.574.4(c). For purposes of this paragraph, the term "person" refers to an
individual or corporation, partnership, trust, association, or other
organization, but does not include the EMPLOYEE and any person or persons with
whom the EMPLOYEE is "acting in concert" within the meaning of 12 C.F.R. Part
574.

     5. Special Regulatory Events. Notwithstanding Section 4 of this AGREEMENT,
the obligations of the EMPLOYER to the EMPLOYEE shall be as follows in the event
of the following circumstances:

          (a) If the EMPLOYEE is suspended and/or temporarily prohibited from
participating in the conduct of the EMPLOYER's affairs by a notice served under
section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA"), the
EMPLOYER's obligations under this AGREEMENT shall be suspended as of the date of
service of such notice, unless stayed by appropriate proceedings. If the charges
in the notice are dismissed, the EMPLOYER shall pay the EMPLOYEE all or part of
the compensation withheld while the obligations in this AGREEMENT were suspended
and reinstate, in whole or in part, any of the obligations that were suspended;

          (b) If the EMPLOYEE is removed and/or permanently prohibited from
participating in the conduct of the EMPLOYER's affairs by an order issued under
Section 8(e)(4) or (g)(1) of the FDIA, all obligations of the EMPLOYER under
this AGREEMENT shall terminate as of the effective date of such order; provided,
however, that vested rights of the EMPLOYEE shall not be affected by such
termination;

          (c) If the EMPLOYER is in default, as defined in section 3(x)(1) of
the FDIA, all obligations under this AGREEMENT shall terminate as of the date of
default; provided, however, that vested rights of the EMPLOYEE shall not be
affected;

          (d) All obligations under this AGREEMENT shall be terminated, except
to the extent of a determination that the continuation of this AGREEMENT is
necessary for the continued operation of the EMPLOYER, (i) by the Director of
the OTS, or his or her designee at the time that the Federal Deposit Insurance
Corporation enters into an agreement to provide assistance to or on behalf of
the EMPLOYER under the authority contained in Section 13(c) of the FDIA or (ii)
by the Director of the OTS, or his or her designee, at any time the Director of
the OTS approves a supervisory merger to resolve problems related to the
operation of the EMPLOYER or when the EMPLOYER is determined by the Director of
the OTS to be in an unsafe or unsound condition; provided, however that no
vested rights of the EMPLOYEE shall be affected by any such termination; and

<PAGE>

          (e) The provisions of this Section 5 are governed by the requirements
of 12 C.F.R. ss. 563.39(b) and in the event that any statements in this Section
5 are inconsistent with 12 C.F.R. ss. 563.39(b), the provisions of 12 C.F.R.
ss. 563.39(b) shall be controlling.

     6. Confidential Information. The EMPLOYEE acknowledges that during his
employment he has learned, will learn and will have access to confidential
information regarding the EMPLOYER and its customers and business. The EMPLOYEE
agrees and covenants not to disclose or use for his own benefit or the benefit
of any other person or entity any confidential information, unless or until the
EMPLOYER consents to such disclosure or use or such information becomes common
knowledge in the industry or is otherwise legally in the public domain. The
EMPLOYEE shall not knowingly disclose or reveal to any unauthorized person any
confidential information relating to the EMPLOYER, its subsidiaries or
affiliates, or to any of the businesses operated by them, and the EMPLOYEE
confirms that such information constitutes the exclusive property of the
EMPLOYER. The EMPLOYEE shall not otherwise knowingly act or conduct himself to
the material detriment of the EMPLOYER, its subsidiaries or affiliates or in a
manner which is inimical or contrary to the interests of the EMPLOYER.

     7. Nonassignability. Neither this AGREEMENT nor any right or interest
hereunder shall be assignable by the EMPLOYEE, his beneficiaries or legal
representatives without the EMPLOYER's prior written consent; provided, however,
that nothing in this Section 7 shall preclude (i) the EMPLOYEE from designating
a beneficiary to receive any benefits payable hereunder upon his death or (ii)
the executors, administrators or other legal representatives of the EMPLOYEE or
his estate from assigning any rights hereunder to the person or persons entitled
thereto.

     8. No Attachment. Except as required by law, no right to receive payment
under this AGREEMENT shall be subject to anticipation, commutation, alienation,
sale, assignment, encumbrance, charge, pledge or hypothecation or to execution,
attachment, levy or similar process of assignment by operation of law, and any
attempt, voluntary or involuntary, to effect any such action shall be null, void
and of no effect.

     9. Binding Agreement. This AGREEMENT shall be binding upon, and inure to
the benefit of, the EMPLOYEE and the EMPLOYER and their respective permitted
successors and assigns.

     10. Amendment of AGREEMENT. This AGREEMENT may not be modified or amended,
except by an instrument in writing signed by the parties hereto.

     11. Waiver. No term or condition of this AGREEMENT shall be deemed to have
been waived, nor shall there be an estoppel against the enforcement of any
provision of this AGREEMENT, except by written instrument of the party charged
with such waiver or estoppel. No such written waiver shall be deemed a
continuing waiver, unless specifically stated therein, and each waiver shall
operate only as to the specific term or condition waived and shall not
constitute a waiver of such term or condition for the future or as to any act
other than the act specifically waived.

     12. Severability. If, for any reason, any provision of this AGREEMENT is
held invalid, such invalidity shall not affect the other provisions of this
AGREEMENT not held so invalid, and each such other provision shall, to the full
extent consistent with applicable law, continue in full force and effect. If
this AGREEMENT is held invalid or cannot be enforced, then any prior agreement
between the EMPLOYER (or any predecessor thereof) and the EMPLOYEE shall be
deemed reinstated, as if this AGREEMENT had not been executed.

     13. Headings. The headings of the paragraphs herein are included solely for
convenience of reference and shall not control the meaning or interpretation of
any of the provisions of this AGREEMENT.

     14. Governing Law. This AGREEMENT has been executed and delivered in the
State of Ohio, and its validity, interpretation, performance and enforcement
shall be governed by the laws of the State of Ohio, except to the extent that
federal law is governing.

     15. Effect of Prior Agreements. This AGREEMENT contains the entire
understanding between the parties hereto and supersedes any prior employment
agreement between the EMPLOYER, or any predecessor of the EMPLOYER, and the
EMPLOYEE.

<PAGE>

     IN WITNESS WHEREOF, the EMPLOYER has caused this AGREEMENT to be executed
by its duly authorized officers, and the EMPLOYEE has signed this AGREEMENT, all
as of the day and year first above written.

Attest:                           FRANKLIN SAVINGS AND LOAN COMPANY

/s/ Shirley M. Anderson           By: /s/ Daniel T. Voelpel
-------------------------------       ----------------------------------------
                                      Daniel T. Voelpel
                                      its Vice President

Witness:

/s/ Shirley M. Anderson           /s/ Thomas H. Siemers
-------------------------------   ----------------------------------------
                                  Thomas H. Siemers<PAGE>

                                                                  Exhibit 10.6.5

                               M E M O R A N D U M
                               -------------------

                                                February 6, 2003

TO:    The Lenders under the Credit Agreement referred to below

FROM:  Goldman Sachs Credit Partners L.P.

                             Re:   SIMMONS COMPANY

     It has come to our attention that in connection with the Fourth Amendment
to the Simmons Company Credit and Guaranty Agreement dated as of October 31,
2002, a drafting error occurred whereby Section 2.25 of the Credit Agreement was
inadvertently deleted. Section 2.25 concerns the Company's ability to increase
the Tranche C Term Loan Commitments by an aggregate amount not in excess of
$50,000,000 and in minimum amounts of not less than $10,000,000 and in integral
multiples of $5,000,000 (such increase, the "Incremental Tranche C Term Loan
Commitments"). In addition, certain references and definitions used in
connection with Section 2.25 were also deleted. The Company wishes to replace
the inadvertently deleted Section 2.25 and corresponding references and
definitions. In addition, Company and Requisite Lenders wish to amend Section
2.25(e) to include a yield protection clause for the benefit of the Lenders.

     Furthermore, Company and Requisite Lenders wish to amend Section 6.5(v)(b)
which allows for share repurchases from deceased, terminated or retired
Management Investors not to exceed $6,000,000 only for Fiscal Year 2002 (up from
an annual basket of $2,500,000) by carrying over unused share repurchases into
Fiscal Year 2003. During Fiscal Year 2002, the Company only repurchased shares
worth $3,288,000 as several large share repurchases were delayed into Fiscal
Year 2003.

     We are requesting that you acknowledge and consent to the replacement of
the inadvertently deleted Section 2.25 and the above mentioned references and
defined terms, and the amendments to Section 2.25(e) and Section 6.5(v)(b) (all
as set forth on Appendix A attached hereto), by COMPLETING AND SIGNING THIS
LETTER WHERE INDICATED BELOW AND FAXING IT BACK TO CATHERINE HUIE, LEGAL
ASSISTANT, AT SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP (FAX NO. 917-777-5145)
PRIOR TO 5:00 PM (NEW YORK TIME), FRIDAY, FEBRUARY 14, 2003. Upon receipt by the
Administrative Agent of sufficient copies of this memorandum, originally
executed and delivered by the Credit Parties and the Requisite Lenders (as
defined in the Credit Agreement), the consents and amendments set forth herein
shall be effective.

<PAGE>

                                   APPENDIX A

1.   The parties hereto hereby consent to and acknowledge the reinsertion of the
inadvertently deleted Section 2.25 and the deleted references and definitions
used in connection with Section 2.25 such as "Incremental Tranche C Term Loan
Commitments", "Incremental Tranche C Term Loan Effective Date", "Incremental
Tranche C Term Loans", "Incremental Tranche C Term Loan Lender", "Incremental
Tranche C Term Loan Notice" and "Incremental Tranche C Term Loan Syndication
Agent".

2.   The parties hereto hereby consent to and acknowledge the following
amendments to Section 2.25(e) adding clauses (iv) and (v) thereto which contain
the following yield protection language for the benefit of Lenders:

     "(iv) the Applicable Margin for each Incremental Tranche C Term Loan
     (which, for such purposes only, shall be deemed to include the QUOTIENT
     resulting from the aggregate of all upfront or similar fees or original
     issue discount payable to all Lenders providing such Incremental Tranche C
     Term Loans DIVIDED by four (4), but exclusive of any arrangement,
     structuring or other fees payable in connection therewith that are not
     shared with all Lenders providing such Incremental Tranche C Term Loans)
     determined as of the applicable Incremental Tranche C Term Loan Effective
     Date shall not be greater than 0.25% above the Applicable Margin then in
     effect for Tranche C Term Loans (which, for such purposes only, shall be
     deemed to include the QUOTIENT resulting from the aggregate of all upfront
     or similar fees or original issue discount paid to all Tranche C Lenders on
     the applicable Incremental Tranche C Term Loan Effective Date DIVIDED by
     four (4), but exclusive of any arrangement, structuring or other fees
     payable in connection therewith that are not shared with all Tranche C
     Lenders); and

     (v) other than with respect to amortization, maturity date and pricing,
     terms relating to such Incremental Tranche C Term Loans shall be on the
     same terms and conditions as those applicable to Tranche C Term Loans."

3.   The parties hereto hereby consent to and acknowledge the amendment to
Section 6.5(v)(b) which shall delete the phrase "$6,000,000 only for the 2002
Fiscal Year" in its entirety and substitute "$3,288,000 only for the 2002 Fiscal
Year and $5,212,000 only for the 2003 Fiscal Year" therefor.

<PAGE>

CONSENTED TO AND AGREED:

----------------------------
NAME OF LENDER

By:
   -------------------------
   Name:
   Title:

CONSENTED TO AND AGREED:

SIMMONS COMPANY
SIMMONS HOLDINGS, INC.

By:
   -------------------------
   Name:
   Title:

SIMMONS INTERNATIONAL HOLDINGS COMPANY, INC.

By:
   -------------------------
   Name:
   Title:

THE SIMMONS MANUFACTURING CO., LLC
WORLD OF SLEEP OUTLETS, LLC
SIMMONS CONTRACT SALES, LLC
GALLERY CORP.

By:
   -------------------------
   Name:
   Title:

DREAMWELL, LTD.
SIMMONS CAPITAL MANAGEMENT, LLC

By:
   -------------------------
   Name:
   Title:

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