Document:

<PAGE>

                                                                    Exhibit 10.2

          AMENDMENT, dated as of June 4, 2001 (the "Amendment"), to the
                                                    ---------
Stockholders' Agreement (the "Stockholders' Agreement"), dated as of July 7,
                              -----------------------
1999, by and among Vestar/Gray Investors LLC, a Delaware limited liability
company (the "LLC"), St. John Knits, Inc., a California corporation (the
              ---
"Company"), St. John Knits, International, Incorporated, a Delaware corporation
--------
(the "Parent"), Vestar/SJK Investors LLC, a Delaware limited liability company
      ------
("Vestar"), and the parties listed on the signature pages hereto as Robert E.
  ------
Gray, Marie Gray, Kelly A. Gray, Gray Family Trust and Kelly Ann Gray Trust
(each a "Gray Stockholder" and, collectively, the "Gray Stockholders").
         ----------------                          -----------------

                              W I T N E S S E T H
                              -------------------

          WHEREAS, the LLC, the Company, the Parent, Vestar and the Gray
Stockholders are parties to the Stockholders' Agreement; and

          WHEREAS, the parties desire to amend the Stockholders' Agreement as
set forth herein.

          NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein made and intending to be legally bound hereby, the parties
hereto hereby agree as follows:

          1.  Defined Terms.  Unless otherwise defined herein, capitalized terms
              -------------
used herein which are defined in the Stockholders' Agreement are used herein as
therein defined.

          2.  Amendment to the Stockholders' Agreement.  The Stockholders'
              ----------------------------------------
Agreement is hereby amended as follows:

              (a) Amendment of Section 1.1.  Section 1.1 of the Stockholders'
                  ------------------------
     Agreement is hereby amended by adding, in appropriate alphabetical order,
     the following new definition:

              "Chief Executive Officer" shall mean, in the case of the Company,
              -------------------------
          the Chief Executive Officer of the Company, and, in the case of the
          Parent, the Chief Executive Officer of the Parent.

          (b) Amendment of Section 2.1(a).  Section 2.1(a) of the
              ---------------------------
Stockholders' Agreement is hereby amended by deleting the reference to "5
designees" therein and substituting, in lieu thereof, a reference to "7
designees".

          (c) Amendment of Section 2.1(f).  Section 2.1(f) of the Stockholders'
              ---------------------------
Agreement is hereby amended by deleting such Section in its entirety and
replacing it with the following:

              (f) In the event of the dissolution of the LLC, each Stockholder
          hereby agrees that so long as this Agreement shall remain in effect,
          such Stockholder will vote all of the voting Securities owned or held
          of record by such Stockholder so
<PAGE>

                                                                               2

          as to elect and, during such period, to continue in office a Board of
          Directors of the Parent and the Company, each consisting solely of the
          following:

                        (i)   4 designees of Vestar (so long as Vestar and its
                              Affiliates beneficially own not less than one-half
                              (1/2) of the number of shares of Common Stock that
                              were allocated to Vestar pursuant to the LLC
                              Agreement as of the date of the LLC Agreement) or,
                              if the foregoing condition is not satisfied, 3
                              designees of Vestar (so long as Vestar and its
                              Affiliates beneficially own not less than one-
                              third (1/3) of the number of shares of Common
                              Stock that were allocated to Vestar pursuant to
                              the LLC Agreement as of the date of the LLC
                              Agreement) or, if the foregoing condition is not
                              satisfied, 1 designee of Vestar (so long as Vestar
                              and its Affiliates beneficially own not less than
                              one-tenth (1/10) of the number of shares of Common
                              Stock that were allocated to Vestar pursuant to
                              the LLC Agreement as of the date of the LLC
                              Agreement), provided, however, that so long as the
                                          --------  -------
                              Gray Representative has the right to appoint at
                              least 1 designee and Vestar (and its Affiliates)
                              beneficially owns more shares of Common Stock than
                              the Gray Stockholders (and their Permitted
                              Transferees), Vestar shall have the right to
                              appoint at least as many designees as the Gray
                              Stockholders;

                        (ii)  2 designees of the Gray Representative (so long as
                              the Gray Stockholders and their Affiliates
                              beneficially own not less than one-half (1/2) of
                              the number of shares of Common Stock that were
                              allocated to the Gray Stockholders pursuant to the
                              LLC Agreement as of the date of the LLC Agreement)
                              or, if the foregoing condition is not satisfied, 1
                              designee of the Gray Representative (so long as
                              the Gray Stockholders and their Affiliates
                              beneficially own not less than one-fifth (1/5) of
                              the number of shares of Common Stock that were
                              allocated to the Gray Stockholders pursuant to the
                              LLC Agreement as of the date of the LLC
                              Agreement); and

                        (iii) the Chief Executive Officer (provided that such
                              Chief Executive Officer is not (A) an employee or
                              an Affiliate of Vestar or (B) a Gray Stockholder
                              or a member of the Family Group of the Gray
                              Stockholders, in which case the Chief Executive
                              Officer shall be counted as a designee of either
                              Vestar or the Gray Representative, as the case may
                              be, for purposes of this Section 2.1(f)).
<PAGE>

                                                                               3

          3.   Continuing Effect of Stockholders' Agreement.  This Amendment
               --------------------------------------------
shall not constitute an amendment or waiver of or consent to any provision of
the Stockholders' Agreement not expressly referred to herein.  Except as
expressly consented to hereby, the provisions of the Stockholders' Agreement are
and shall remain in full force and effect.

          4.   Counterparts.  This Amendment may be executed in any number of
               ------------
counterparts, all of which together shall constitute a single instrument.

          5.   Governing Law.  This Amendment shall be governed by and construed
               -------------
and enforced in accordance with the laws of the State of Delaware.

<PAGE>

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

                                      ST. JOHN KNITS INTERNATIONAL,
                                      INCORPORATED

                                      By: /s/ Joseph O. Joffrion
                                          --------------------------------------
                                          Name:   Joseph O. Joffrion
<PAGE>

                             VESTAR/GRAY INVESTORS LLC

                             By: Vestar/SJK Investors LLC,
                                 its Managing Member

                                 By:  Vestar Capital Partners III, L.P.,
                                      its Managing Member

                                 By:  Vestar Associates III, L.P.,
                                       its General Partner

                                 By:  Vestar Associates Corporation III,
                                      its General Partner

                              By:  /s/ James P. Kelley
                                   -------------------
                                   Name: James P. Kelley

                             VESTAR/SJK INVESTORS LLC

                             By: Vestar Capital Partners III, L.P.,
                                 its Managing Member

                                 By:  Vestar Associates III, L.P.,
                                       its General Partner

                                 By:  Vestar Associates Corporation III,
                                      its General Partner

                             By:  /s/ James P. Kelley
                                 -------------------
                                 Name:  James P. Kelley
<PAGE>

                            /s/  Bob Gray
                            ---------------------------------------
                            BOB GRAY

                            /s/ Marie Gray
                            ---------------------------------------
                            MARIE GRAY

                            /s/ Kelly A. Gray
                            ---------------------------------------
                            KELLY A. GRAY

                            GRAY FAMILY TRUST

                            By: /s/ Bob Gray
                               ------------------------------------
                                 Name:  Bob Gray

                            By: /s/ Marie Gray
                               ------------------------------------
                                 Name:  Marie Gray

                            KELLY ANN GRAY TRUST

                            By:  /s/ Bob Gray
                                ----------------------------------
                                 Name: Bob Gray

                            By:  /s/ Marie Gray
                                -----------------------------------
                                 Name: Marie GrayPrepared by MERRILL CORPORATION

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EXHIBIT 10.1  

 
 

MODIFICATION AND/OR EXTENSION AGREEMENT    
  

    MRE 

	
Date:	
 	

July 23, 2001
	
Borrower(s):	
 	

R-B Rubber Products, Inc,
	
Lender:	
 	

KEYBANK NATIONAL ASSOCIATION
	

Note:	
 	

Dated July 31, 1998, in the principal amount of $1,000,000.00, including any and all amendments thereto.
	

Loan #:	
 	

20-121729-1010039501

    FOR
VALUE, RECEIVED, Borrower and Lender hereby agree to modify the above-referenced Loan and Promissory Note and/or Loan Agreement as follows: 

    1.  MODIFICATION AND/OR EXTENSION PROVISIONS.  

	•
	The
maturity date of the Loan is hereby extended to October 1, 2001 

    2.  CONDITIONS.  The modifications and/or extension described above are subject to and conditioned upon
Borrower's full satisfaction of all of the following conditions on or before the date first stated above, time being of the essence. 

	A.
	There
shall be no uncured event of default under the Loan, nor any event or condition which with notice or the passage of time would be an event of default thereunder.

	B.
	Borrower
shall deliver to Lender a fully executed original of this Modification and/or Extension Agreement.

	C.
	All
expenses incurred by Lender in connection with this Agreement (including without limitation, attorney fees, recording charges, charges for title policy update(s), escrow
charges, costs of obtaining updated or additional appraisals or collateral valuations, if required by Lender) shall be paid by Borrower.

	D.
	Borrower
shall comply with the following additional conditions:

	•
	No
additional conditions apply. 

    3.  GENERAL PROVISIONS.  Except as modified above, all other provisions of the Promissory Note and any
other documents securing or relating to the Loan (the "Loan Document§") remain in full force and effect. All security given for the Loan and all guarantees of the Loan (as applicable)
shall continue in fill force. Borrower warrants and represents to Lender that it has full right, power and authority to enter into this agreement and to perform all its obligations hereunder, and that
all information and materials submitted to Lender in connection with this modification are accurate and complete. Borrower warrants that no default exists under the Loan Documents. Borrower reaffirms
its obligation to pay the Loan in full and reaffirms the validity and enforceability of the Loan Documents, without set-off, counterclaim or defense. 

1

 

    ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER OREGON
LAW.

	
LENDER:	
 	

BORROWER:
	

KEYBANK NATIONAL ASSOCIATION	
 	

R-B Rubber Products, Inc.
	

  By: /s/ JOHN MARSH
 John Marsh
 Vice President	

 	

By: /s/ RONALD L. BOGH
 Ronald L. Bogh
 President

7-23-01

2

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MODIFICATION AND/OR EXTENSION AGREEMENT

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