Document:

EX-10.35

 Exhibit 10.35 

Execution Copy 

FOURTH AMENDMENT TO CREDIT AGREEMENT (INCREMENTAL AMENDMENT) 

FOURTH AMENDMENT TO CREDIT AGREEMENT (INCREMENTAL AMENDMENT), dated as of December 17, 2015 (this “Amendment”),
by and among J. CREW GROUP, INC., a Delaware corporation (the “Borrower”), CHINOS INTERMEDIATE HOLDINGS B, INC., a Delaware corporation (“Holdings”), BANK OF AMERICA, N.A., as administrative agent (in such capacity,
including any successor thereto, the “Administrative Agent”) and as collateral agent (in such capacity, including any successor thereto, the “Collateral Agent”) under the Loan Documents, and each lender party hereto
(collectively, the “Lenders” and individually, each a “Lender”). 
 WHEREAS: 

A. The Borrower, Chinos Intermediate Holdings B, Inc., the Administrative Agent, the Collateral Agent and the Lenders are parties to that
certain Credit Agreement, dated as of March 7, 2011 (as amended by that certain First Amendment to Credit Agreement, dated as of October 11, 2012, that certain Second Amendment to Credit Agreement, dated as of March 5, 2014, that
certain Third Amendment to Credit Agreement, dated as of December 10, 2014, as amended hereby, and as may be further amended, restated, supplemented or otherwise modified, renewed or replaced from time to time, the “Credit
Agreement”), pursuant to which the Lenders agreed, subject to the terms and conditions thereof, to extend credit and make certain other financial accommodations available to the Borrower; 

B. Pursuant to Section 2.15 of the Credit Agreement, the Borrower has requested a Revolving Commitment Increase in the amount of
$50,000,000, and certain Lenders (collectively, the “Revolving Commitment Increase Lenders” and individually, each a “Revolving Commitment Increase Lender”) have agreed to provide such requested increase, subject to
the terms and conditions set forth herein; and 
 C. In accordance with Section 2.15 of the Credit Agreement, Holdings, the Borrower,
the Administrative Agent, the Revolving Commitment Increase Lenders and the Requisite Lenders agree to amend the Credit Agreement as set forth herein, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties signatory hereto agree as follows: 
 1.
Definitions. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given such terms in the Credit Agreement. 

2. Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent specified in Section 4 below: 

(a) Additional Definitions. Section 1.1 of the Credit Agreement is hereby amended to include, in addition
and not in limitation, the following definitions in proper alphabetical order: 
 (i) “Fourth Amendment”
means the Fourth Amendment to Credit Agreement (Incremental Amendment), dated and effective as of the Fourth Amendment Effective Date, by and among the Borrower, the Administrative Agent, the Collateral Agent and the Lenders party thereto. 

 (ii) “Fourth Amendment Effective Date” means
December 17, 2015. 
 (iii) “Letter of Credit Sublimit” means an amount equal to $300,000,000, as such
amount may be increased or reduced in accordance with the provisions of this Agreement. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Commitments. A permanent reduction of the Aggregate Commitments
shall not require a corresponding pro rata reduction in the Letter of Credit Sublimit; provided, however, that if the Aggregate Commitments are reduced to an amount less than the Letter of Credit Sublimit, then the Letter of Credit
Sublimit shall be reduced to an amount equal to (or, at the Borrower’s option, less than) the Aggregate Commitments. 

(b) Amended Definitions. Section 1.1 of the Credit Agreement is hereby further amended as follows: 

The definition of “Loan Documents” is hereby deleted in its entirety and the following is substituted in its stead:

 “Loan Documents” means, collectively, (a) this Agreement, (b) the Revolving Credit Notes,
(c) any Incremental Amendment and any Extension Amendment, (d) the Guaranty, (e) the Fee Letter and any other fee letter entered into between the Borrower and the Administrative Agent in connection with this Agreement, (f) each
Letter of Credit Reimbursement Agreement, (g) the Collateral Documents, (h) the Issuer Documents, (i) the First Amendment, (j) the Second Amendment, (k) the Third Amendment and (l) the Fourth Amendment.” 

(c) Amended Provision. Section 2.4(a)(iii) of the Credit Agreement is hereby deleted in its entirety and the
following is substituted in its stead: 
 “(iii) after giving effect to the Issuance of such Letter of Credit,
(A) the aggregate Revolving Credit Outstandings would exceed the Maximum Credit at such time, (B) the Revolving Credit Outstandings of any Lender would exceed such Lender’s Revolving Credit Commitment, or (C) the Outstanding
Amount of the Letter of Credit Obligations would exceed the Letter of Credit Sublimit;” 
 3. Revolving Commitment
Increase. Subject to the terms and conditions contained herein, the Revolving Commitment Increase Lenders have agreed to increase their respective Revolving Credit Commitments in an aggregate amount of $50,000,000. This Amendment shall
serve as the “Incremental Amendment” referred to in Section 2.15 of the Credit Agreement. In accordance with Section 2.15 of the Credit Agreement, Schedule I to the Credit Agreement (Revolving Credit Commitments)
shall be amended by deleting such schedule and replacing it with the corresponding schedule set forth on Annex I attached hereto. 

  
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 4. Representations and Warranties. The Borrower represents and warrants to the
Administrative Agent, the Collateral Agent and the Lenders that: 
 (a) the representations and warranties set forth in the Credit Agreement
and in each of the other Loan Documents are true and correct in all material respects on the Fourth Amendment Effective Date, as if made on and as of the Fourth Amendment Effective Date and as if each reference therein to “this Agreement”
or the “Credit Agreement” or the like includes reference to this Amendment and the Credit Agreement as amended hereby (except to the extent that such representations and warranties expressly relate to an earlier date, in which case they
are true and correct in all material respects as of such earlier date); provided, that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and
correct (after giving effect to any qualification therein) in all respects on such respective dates; and 
 (b) after giving effect to this
Amendment, no Default or Event of Default exists as of the Fourth Amendment Effective Date. 
 5. Conditions Precedent. The
amendments set forth in this Amendment shall not be effective until each of the following conditions precedent are satisfied in a manner satisfactory to the Administrative Agent: 

(a) receipt by the Administrative Agent of a copy of (i) this Amendment, duly authorized and executed by the Borrower, Holdings, the
Requisite Lenders and each Revolving Commitment Increase Lender, and (ii) a copy of the Guarantor Consent and Reaffirmation, in substantially the form of Annex II attached hereto, duly authorized and executed by Holdings and each
Subsidiary Guarantor (the “Guarantor Consent and Reaffirmation”); 
 (b) receipt by the Administrative Agent of an amended
and restated Revolving Credit Note executed by the Borrower in favor of each Revolving Commitment Increase Lender that has requested a Note at least two (2) Business Days in advance of the Fourth Amendment Effective Date; 

(c) the Administrative Agent shall have received from the Borrower an upfront fee, equal to 0.25% of the Revolving Commitment Increase provided
on the Fourth Amendment Effective Date, for the benefit of the Revolving Commitment Increase Lenders providing such Revolving Commitment Increase (which fee shall be non-refundable, fully earned, due and
payable in full in cash on the Fourth Amendment Effective Date), and, to the extent invoiced at least one (1) Business Day prior to the Fourth Amendment Effective Date, reimbursement or payment of all reasonable
out-of-pocket expenses (including, without limitation, reasonable fees and expenses of Choate, Hall & Stewart LLP, counsel to the Administrative Agent and the
Collateral Agent) required to be reimbursed or paid by the Loan Parties pursuant to the terms of Section 12.3 of the Credit Agreement; 

(d) receipt by the Administrative Agent of a Secretary’s Certificate from each of the Loan Parties certifying (i) the recent passage
and continued effectiveness of resolutions, in the case of the Borrower, approving the transactions contemplated by this Amendment and, in the case of the Guarantors, approving the Guarantor Consent and Reaffirmation, and (ii) the incumbency of
the officers executing this Amendment and the documents delivered in connection therewith to which such Loan Party is a party, in each case in form and substance reasonably satisfactory to the Administrative Agent; and 

(e) receipt by the Administrative Agent of a certificate of a Responsible Officer of the Borrower stating that after giving effect to this
Amendment, no Default or Event of Default shall have occurred and be continuing, nor shall any Default or Event of Default result from the consummation of the transactions contemplated herein. 

  
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 6. Effect on Loan Documents. As amended hereby, the Credit Agreement and the
other Loan Documents shall be and remain in full force and effect in accordance with their terms and hereby are ratified and confirmed by the Borrower in all respects. The execution, delivery, and performance of this Amendment shall not operate
as a waiver of any right, power, or remedy of the Administrative Agent, the Collateral Agent or the Lenders under the Credit Agreement or the other Loan Documents. The Borrower hereby acknowledges and agrees that, after giving effect to the
Amendment, all of its respective obligations and liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. After
giving effect to the Amendment, the Borrower reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured Parties under each of the Loan Documents to which it is a party, which Liens shall continue in full force and
effect during the term of the Credit Agreement, and shall continue to secure the Obligations (after giving effect to the Amendment), in each case, on and subject to the terms and conditions set forth in the Credit Agreement and the other Loan
Documents. Each entity that is listed on the signature pages to this Amendment as a “Lender” is hereby deemed a Lender under the Credit Agreement. 

7. No Novation; Entire Agreement. This Amendment is not a novation or discharge of the terms and provisions of the obligations of
the Borrower under the Credit Agreement and the other Loan Documents. There are no other understandings, express or implied, among the Borrower, the Administrative Agent, the Collateral Agent and the Lenders regarding the subject matter hereof
or thereof. 
 8. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK. 
 9. Counterparts; Electronic Execution. This Amendment may be executed in any number of counterparts and by
different parties and separate counterparts, each of which when so executed and delivered shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a
signature page to this Amendment by facsimile or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by facsimile
or other electronic transmission also shall deliver a manually executed counterpart of this Amendment but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

 10. Construction. This Amendment and the Credit Agreement shall be construed collectively and in the event that any term,
provision or condition of any of such documents is inconsistent with or contradictory to any term, provision or condition of any other such document, the terms, provisions and conditions of this Amendment shall supersede and control the terms,
provisions and conditions of the Credit Agreement. Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words
of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Credit
Agreement, shall mean and be a reference to the Credit Agreement as modified hereby. 
 [Remainder of page intentionally left blank;
signature pages follow.] 

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

			
	J. CREW GROUP, INC., as the Borrower
		
	By:	 	 /s/ Vincent Zanna

	Name:	 	Vincent Zanna
	Title:	 	Vice President and Treasurer

  

			
	CHINOS INTERMEDIATE HOLDINGS B, INC.,
	as Holdings
		
	By:	 	 /s/ Vincent Zanna

	Name:	 	Vincent Zanna
	Title:	 	Vice President and Treasurer

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	BANK OF AMERICA, N.A.,
	as Administrative Agent and Collateral Agent
		
	By:	 	 /s/ David Vega

	Name:	 	David Vega
	Title:	 	Managing Director

  

			
	BANK OF AMERICA, N.A.,
	as Swing Loan Lender, an Issuer and a Lender
		
	By:	 	 /s/ David Vega

	Name:	 	David Vega
	Title:	 	Managing Director

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as a Lender

 
			
		
	By:	 	 /s/ Ian Maccubbin

 

			
	Name:	 	Ian Maccubbin
	Title:	 	Vice President

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION,
	as an Issuer and a Lender
		
	By:	 	 /s/ Brian Gingue

	Name:	 	Brian Gingue
	Title:	 	Senior Vice President

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	SUNTRUST BANK,
	as a Lender
		
	By:	 	 /s/ Angela Leake

	Name:	 	Angela Leake
	Title:	 	Director

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	TD BANK, N.A.,
	as a Lender
		
	By:	 	 /s/ Nick Malatestinic

	Name:	 	Nick Malatestinic
	Title:	 	Senior Vice President

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	U.S. BANK NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	 /s/ Carol Anderson

	Name:	 	Carol Anderson
	Title:	 	Vice President

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	GOLDMAN SACHS BANK USA,
	as a Lender
		
	By:	 	 /s/ Rebecca Kratz

	Name:	 	Rebecca Kratz
	Title:	 	Authorized Signatory

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 
			
	MIZUHO CORPORATE BANK, LTD.,
	as a Lender
		
	By:	 	 /s/ James Fayen

	Name:	 	James Fayen
	Title:	 	Deputy General Manager

 [Signature Page to Fourth Amendment to Credit Agreement] 

  

 Annex I 

SCHEDULE I TO 
 CREDIT
AGREEMENT 
 Revolving Credit Commitments 
  

					
	 Lender
	  	Revolving Credit Commitment	 
	 Bank of America, N.A.
	  	$	84,200,000.00	 
	 Wells Fargo Bank, National Association
	  	$	60,800,000.00	 
	 HSBC Bank USA, National Association
	  	$	52,500,000.00	 
	 SunTrust Bank
	  	$	52,500,000.00	 
	 TD Bank, N.A.
	  	$	35,000,000.00	 
	 U.S. Bank National Association
	  	$	30,000,000.00	 
	 Goldman Sachs Bank USA
	  	$	20,000,000.00	 
	 Mizuho Corporate Bank, LTD.
	  	$	15,000,000.00	 
		  	  
	  
	 
	 Total
	  	$	350,000,000	 
		  	  
	  
	 

  

 Annex II 

GUARANTOR CONSENT AND REAFFIRMATION 

December 17, 2015 

Reference is made to (i) the Fourth Amendment to Credit Agreement, dated as of dated as of December 17, 2015, attached as Exhibit
A hereto (the “Amendment”), among the Borrower, the Administrative Agent, the Collateral Agent and each Lender party thereto, and (ii) the Credit Agreement dated as of March 7, 2011 (as amended, amended and
restated, supplemented or otherwise modified through the date hereof, including pursuant to the Amendment, the “Credit Agreement”), among the Borrower, Holdings, the Administrative Agent, the Collateral Agent and each Lender from
time to time party thereto. Capitalized terms used but not otherwise defined in this Guarantor Consent and Reaffirmation (this “Consent”) are used with the meanings attributed thereto in the Credit Agreement. 

Each Guarantor hereby consents to the execution, delivery and performance of the Amendment and agrees that each reference to the Credit
Agreement in the Loan Documents shall, on and after the Fourth Amendment Effective Date, be deemed to be a reference to the Credit Agreement in accordance with the terms of the Amendment. 

Each Guarantor hereby acknowledges and agrees that, after giving effect to the Amendment, all of its respective obligations and liabilities
under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. 

After giving effect to the Amendment, each Guarantor reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured
Parties under each of the Loan Documents to which it is a party, which Liens shall continue in full force and effect during the term of the Credit Agreement, and shall continue to secure the Obligations (after giving effect to the Amendment), in
each case, on and subject to the terms and conditions set forth in the Credit Agreement and the other Loan Documents. 
 Nothing in this
Consent shall create or otherwise give rise to any right to consent on the part of the Guarantors to the extent not required by the express terms of the Loan Documents. 

This Consent is a Loan Document and shall be governed by, and construed in accordance with, the law of the State of New York. 

[ The remainder of this page is intentionally left blank ] 

  

 IN WITNESS WHEREOF, the undersigned have caused this Consent to be executed as of the date
first above written. 
  

	
	CHINOS INTERMEDIATE HOLDINGS B, INC.
	J. CREW OPERATING CORP.
	J. CREW INC.
	J. CREW INTERNATIONAL, INC.
	GRACE HOLMES, INC.
	H. F. D. NO. 55, INC.
	MADEWELL INC.
	J. CREW VIRGINIA, INC.
	
	By:                                     
                                         
                  
	Name:
	Title:

 [Guarantor Consent and Reaffirmation Signature Page] 

  

 Exhibit A 

Fourth Amendment to Credit Agreement 

See Attached.EX-10.36

 Exhibit 10.36 

Execution Version 

FIFTH AMENDMENT TO CREDIT AGREEMENT AND 

CONSENT TO RELEASE OF MORTGAGES 

FIFTH AMENDMENT TO CREDIT AGREEMENT AND CONSENT TO RELEASE OF MORTGAGES, dated as of November 17, 2016 (this
“Amendment”), by and among J. CREW GROUP, INC., a Delaware corporation (the “Borrower”), CHINOS INTERMEDIATE HOLDINGS B, INC., a Delaware corporation (“Holdings”), BANK OF AMERICA, N.A., as
administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) and as collateral agent (in such capacity, including any successor thereto, the “Collateral Agent”) under the Loan
Documents, and each lender party hereto (collectively, the “Lenders” and individually, each a “Lender”). 

WHEREAS: 
 A. The Borrower,
Holdings, the Administrative Agent, the Collateral Agent and the Lenders are parties to that certain Credit Agreement, dated as of March 7, 2011 (as amended by that certain First Amendment to Credit Agreement, dated as of October 11, 2012,
that certain Second Amendment to Credit Agreement, dated as of March 5, 2014, that certain Third Amendment to Credit Agreement, dated as of December 10, 2014, that certain Fourth Amendment to Credit Agreement (Incremental Amendment), dated
as of December 17, 2015, as amended hereby, and as may be further amended, restated, supplemented or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”), pursuant to which the Lenders agreed,
subject to the terms and conditions thereof, to extend credit and make certain other financial accommodations available to the Borrower; and 

B. The Borrower and Holdings have requested that the Lenders agree to amend the Credit Agreement as set forth herein, and the Lenders have
agreed to such amendments, subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and
the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties signatory hereto agree as follows: 

1. Definitions. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given such terms
in the Credit Agreement. 
 2. Release of Mortgages. The Lenders hereby consent to the Collateral Agent’s release of its
Lien on all Mortgaged Properties (as defined in the Credit Agreement before giving effect to this Amendment) and any other property subject to a Mortgage as of the Fifth Amendment Effective Date, including without limitation those properties set
forth on Schedule 1.1D attached to the Credit Agreement (as in effect immediately prior to this Amendment), and the release and discharge of the related Mortgages. The Collateral Agent does hereby discharge and release such Mortgages and agrees
to deliver, promptly following the Fifth Amendment Effective Date, instruments in recordable form and otherwise in form and substance reasonably satisfactory to the Collateral Agent memorializing the foregoing discharge and release. The
provisions of this Section 2 shall not, and shall not be construed to, (i) release or discharge the Obligations secured by such Mortgages or (ii) release or discharge any other Collateral Document or the Liens of the Collateral Agent
pursuant to such other Collateral Documents, all of which are reaffirmed and remain in full force and effect in accordance with Section 7 below. 

 3. Amendments to Credit Agreement. Subject to the satisfaction of the conditions
precedent specified in Section 6 below: 
 (a) Additional Definitions. Section 1.1 of the Credit
Agreement is hereby amended to include, in addition and not in limitation, the following definitions in proper alphabetical order: 

(i) “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA
Resolution Authority in respect of any liability of an EEA Financial Institution. 
 (ii) “Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to
time which is described in the EU Bail-In Legislation Schedule. 
 (iii)
“Designated Jurisdiction” means any country or territory to the extent that such country or territory is the subject of any Sanction (as of the Fifth Amendment Effective Date, without limitation of any country or territory that
becomes the subject of any Sanction on or after the Fifth Amendment Effective Date, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 

(iv) “EEA Financial Institution” means (a) any credit institution or investment firm established in any
EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

(v) “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and
Norway. 
 (vi) “EEA Resolution Authority” means any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

(vii) “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

(viii) “Fifth Amendment” means the Fifth Amendment to Credit Agreement and Consent to Release of Mortgages,
dated and effective as of the Fifth Amendment Effective Date, by and among the Borrower, Holdings, the Administrative Agent, the Collateral Agent and the Lenders party thereto. 

(ix) “Fifth Amendment Effective Date” means November 17, 2016. 

(x) “Sanction(s)” means any sanction administered or enforced by any Governmental Authority of the United
States or Canada (including, without limitation, OFAC, the United States Department of State, Foreign Affairs and International Trade Canada or the Department of Public Safety Canada), the European Union or Her Majesty’s Treasury
(“HMT”). 

  
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 (xi) “Write-Down and Conversion Powers” means, with
respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which
write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

(b) Deleted Definitions. Section 1.1 of the Credit Agreement is hereby further amended by deleting the following
definitions: “Material Real Property”, “Mortgage Policies” and “Mortgaged Properties”. 

(c) Amended Definitions. Section 1.1 of the Credit Agreement is hereby further amended as follows: 

(i) The definition of “Availability Reserve” is hereby deleted in its entirety and the following is substituted in
its stead: 
 “Availability Reserves” means, without duplication of any other reserves or items that are
otherwise addressed or excluded through eligibility criteria, such reserves as the Administrative Agent from time to time determines in its Permitted Discretion as being appropriate (a) to reflect the impediments to the Agents’ ability to
realize upon the Collateral, (b) to reflect claims and liabilities that the Administrative Agent determines will need to be satisfied in connection with the realization upon the Collateral or (c) to reflect criteria, events, conditions,
contingencies or risks which adversely affect any component of the Borrowing Base, the Collateral or the validity or enforceability of this Agreement or the other Loan Documents or any material remedies of the Secured Parties hereunder or
thereunder; provided that circumstances, conditions, events or contingencies existing or arising prior to the Effective Date and, in each case, disclosed in writing in any field examination or appraisal delivered to the Administrative Agent in
connection herewith prior to the Effective Date shall not be the basis for any establishment of any reserves after the Effective Date, unless such circumstances, conditions, events or contingencies shall have changed in a material respect since the
Effective Date. Without limiting the generality of the foregoing, Availability Reserves may include reserves based on: (i) rent; provided that such Availability Reserves shall be limited to an amount not to exceed the sum of (x) past due
rent for all of the Borrower and the Subsidiary Guarantors’ leased locations plus (y) one (1) month’s rent for all of the Borrower and the Subsidiary Guarantors’ leased locations (A) located in the states of Washington,
Virginia, Pennsylvania and all other Landlord Lien States or (B) that are distribution centers or warehouses, other than, in each case, such locations, distribution centers or warehouses with respect to which the Administrative Agent has
received a Collateral Access Agreement in form and substance reasonably satisfactory to the Administrative Agent; (ii) customs duties, and other costs to release Inventory which is being imported into the United States; (iii) outstanding
Taxes and other governmental charges, including, ad valorem, real estate, personal property, sales, and other Taxes which have priority over the interests of the Collateral Agent in the Current Asset Collateral; (iv) salaries, wages and
benefits due to employees of the Borrower which have priority over the interests of the Collateral Agent in the Current Asset Collateral, (v) Customer Credit Liabilities; (vi) warehousemen’s or bailee’s charges and 

  
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 other Liens permitted under Section 9.1 which might have priority over the interests
of the Collateral Agent in the Current Asset Collateral; (vii) reserves in respect of Cash Management Obligations, provided that reserves of the type described in this clause (vii) in respect of such Cash Management Obligations shall
require the consent of the Borrower; (viii) reserves in respect of Obligations in respect of Secured Hedge Agreements, provided that, if such Obligations in respect of Secured Hedge Agreements shall constitute Specified Secured Hedge
Obligations, then reserves of the type described in this clause (viii) shall require the consent of the Borrower; (ix) at any time on or after December 4, 2020, the amount by which the aggregate outstanding principal amount of the loans
under the Term Facility or any Permitted Refinancing thereof with a maturity date that is earlier than the date that is 91 days after the Latest Maturity Date exceeds $50,000,000 (the amount of which reserve under this clause (ix) shall
for avoidance of doubt be reduced on a dollar for dollar basis by any reduction on or after December 4, 2020, in the outstanding principal amount of such loans) and (x) additional reserves in the Administrative Agent’s Permitted
Discretion. 
 (ii) The definition of “Cash Dominion Period” is hereby deleted in its entirety and the following
is substituted in its stead: 
 “Cash Dominion Period” means (a) each period beginning on the date
that Excess Availability shall have been less than the greater of (x) 12.5% of the Maximum Credit and (y) $35,000,000, in either case, for five (5) consecutive Business Days, and ending on the date Excess Availability shall have been equal to
or greater than the greater of (x) 12.5% of the Maximum Credit and (y) $35,000,000, in each case, for thirty (30) consecutive calendar days or (b) upon the occurrence of a Specified Event of Default, the period that such Specified Event of
Default shall be continuing; provided that a Cash Dominion Period may not deemed to have ended under this definition on more than three (3) occasions in any period of 365 consecutive days. 

(iii) The definition of “Collateral” is hereby deleted in its entirety and the following is substituted in its
stead: 
 “Collateral” means all the “Collateral” (or equivalent term) as defined in any
Collateral Document. 
 (iv) (A) Clause (e) of the definition of “Collateral and Guarantee Requirement” is
hereby deleted in its entirety, (B) the semicolon at the end of clause (d) of such definition is hereby replaced with a period, and (C) the word “and” is hereby added to the end of clause (c) of such definition. 

(v) The definition of “Covenant Trigger Event” is hereby deleted in its entirety and the following is substituted in
its stead: 
 “Covenant Trigger Event” means that Excess Availability on any day is less than the greater
of (i) $27,500,000 and (ii) 10% of the Maximum Credit. For purposes hereof, the occurrence of a Covenant Trigger Event shall be deemed to be continuing until Excess Availability is equal to or greater than the greater of (i) $27,500,000 and
(ii) 10% of the Maximum Credit, in each case, for thirty (30) consecutive days, in which case a Covenant Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement. 

  
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 (vi) Clause (d) of the definition of “Defaulting Lender” is
hereby deleted in its entirety and the following is substituted in its stead: 
 “(d) has, or has a direct or indirect
parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or a custodian appointed for it, (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment, or (iv) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a
Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or
permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.” 

(vii) The definition of “Eurocurrency Rate” is hereby amended by (A) deleting the word “and” at the
end of clause (a) thereof, (B) replacing the period at the end of clause (b) thereof with the phrase “; and”, and (C) adding the following clause (c) thereto: 

“(c) in any event (notwithstanding the foregoing clauses (a) and (b)), a rate per annum not less than zero.”

 (viii) The definition of “Fixed Charges” is hereby deleted in its entirety and the following is substituted in
its stead: 
 “Fixed Charges” means, with respect to any Person for any Test Period, the sum, determined on
a Consolidated basis, of (a) the Consolidated Net Cash Interest Expense of such Person and its Restricted Subsidiaries for such period plus (b) scheduled payments of principal on Indebtedness for borrowed money of such Person and
its Restricted Subsidiaries due and payable during such period. 
 (ix) The definition of “Letter of Credit
Sublimit” is hereby deleted in its entirety and the following is substituted in its stead: 
 “Letter of Credit
Sublimit” means an amount equal to $200,000,000, as such amount may be increased or reduced in accordance with the provisions of this Agreement; provided, however, that HSBC Bank USA, N.A. (in its capacity as an Issuer) shall
not be required to Issue Letters of Credit having a maximum aggregate face amount exceeding $50,000,000 at any time outstanding. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Commitments. A
permanent reduction of the Aggregate Commitments shall not require a corresponding pro rata reduction in the Letter of Credit Sublimit; 

  
 5 

 provided, however, that if the Aggregate Commitments are reduced to an amount
less than the Letter of Credit Sublimit, then the Letter of Credit Sublimit shall be reduced to an amount equal to (or, at the Borrower’s option, less than) the Aggregate Commitments. 

(x) The definition of “Loan Documents” is hereby deleted in its entirety and the following is substituted in its
stead: 
 “Loan Documents” means, collectively, (a) this Agreement, (b) the Revolving Credit
Notes, (c) any Incremental Amendment and any Extension Amendment, (d) the Guaranty, (e) the Fee Letter and any other fee letter entered into between the Borrower and the Administrative Agent in connection with this Agreement,
(f) each Letter of Credit Reimbursement Agreement, (g) the Collateral Documents, (h) the Issuer Documents, (i) the First Amendment, (j) the Second Amendment, (k) the Third Amendment, (l) the Fourth Amendment, and
(m) the Fifth Amendment. 
 (xi) The definition of “Mortgages” is hereby deleted in its entirety and the
following is substituted in its stead: 
 “Mortgages” means, collectively, any deeds of trust, trust deeds,
hypothecs and mortgages made after the Fifth Amendment Effective Date by the Loan Parties in favor or for the benefit of the Collateral Agent on behalf of the Lenders in form and substance reasonably satisfactory to the Collateral Agent. 

(xii) The definition of “OFAC” is hereby deleted in its entirety and the following is substituted in its stead: 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

(xiii) The definition of “Payment Conditions” is hereby deleted in its entirety and the following is substituted in
its stead: 
 “Payment Conditions” means, at any time of determination, that (a) no Event of Default
exists or would arise as a result of the making of the subject Specified Payment, (b) after giving Pro Forma Effect to such Specified Payment and projected for the succeeding six (6) months following such Specified Payment, Excess
Availability shall be greater than or equal to the greater of (i) 15% of the Maximum Credit and (ii) $40,000,000 and (c) either (i) after giving Pro Forma Effect to such Specified Payment and projected for the succeeding six (6) months
following such Specified Payment, Excess Availability shall be greater than 25% of the Maximum Credit or (ii) the Fixed Charge Coverage Ratio as of the end of the most recently ended Test Period for which financial statements have been or are
required to have been delivered pursuant to Section 7.1(a) or (b) shall be greater than or equal to 1.0 to 1.0 after giving Pro Forma Effect to such Specified Payment as if such Specified Payment (if applicable
to such calculation) had been made as of the first day of such period, and, in each case, the Borrower shall have delivered, in accordance with Section 7.2(f) hereof, to the Administrative Agent evidence reasonably
satisfactory to the Administrative Agent that the conditions contained in the foregoing clauses (a), (b) and (c) have been satisfied. 

  
 6 

 (xiv) The last sentence of the definition of “Revolving Credit
Commitment” is hereby deleted in its entirety and the following is substituted in its stead: 
 “As of the Fifth
Amendment Effective Date, the aggregate amount of the Revolving Credit Commitments is $350,000,000.” 
 (xv) The
definition of “Revolving Credit Termination Date” is hereby deleted in its entirety and the following is substituted in its stead: 

“Revolving Credit Termination Date” means the earliest of (a) the Scheduled Termination Date,
(b) the date of termination of all of the Revolving Credit Commitments pursuant to Section 2.5, (c) the date on which the Obligations become due and payable pursuant to Section 10.2, and
(d) December 4, 2020, unless (in the case of this clause (d)), by such date, the maturity date of the loans under the Term Facility or any Permitted Refinancing thereof (other than a portion of such loans in an aggregate outstanding
principal amount not to exceed $100,000,000, provided that an Availability Reserve in the maximum amount contemplated under clause (ix) of the definition thereof has been implemented and is thereafter maintained (subject to reduction in
accordance with the terms thereof)) has been extended to a date that is at least ninety-one (91) days after the Latest Maturity Date. 

(xvi) The definition of “RP Conditions” is hereby deleted in its entirety and the following is substituted in its
stead: 
 “RP Conditions” means, at any time of determination, that (a) no Event of Default exists or
would arise as a result of the subject Specified Payment, (b) after giving Pro Forma Effect to such Specified Payment and projected for the succeeding six (6) months following such Specified Payment, Excess Availability shall be greater
than or equal to the greater of (i) 15% of the Maximum Credit and (ii) $40,000,000 and (c) either (i) after giving Pro Forma Effect to such Specified Payment and projected for the succeeding six (6) months following such Specified Payment,
Excess Availability shall be greater than 25% of the Maximum Credit or (ii) the Fixed Charge Coverage Ratio as of the end of the most recently ended Test Period for which financial statements have been or are required to have been delivered
pursuant to Section 7.1(a) or (b) shall be greater than or equal to 1.1 to 1.0 after giving Pro Forma Effect to such Specified Payment as if such Specified Payment (if applicable to such calculation) had been
made as of the first day of such period, and, in each case, the Borrower shall have delivered, in accordance with Section 7.2(f) hereof, to the Administrative Agent evidence reasonably satisfactory to the Administrative
Agent that the conditions contained in the foregoing clauses (a), (b) and (c) have been satisfied. 

  
 7 

 (xvii) The definition of “Scheduled Termination Date” is hereby
deleted in its entirety and the following is substituted in its stead: 
 “Scheduled Termination Date”
means the date that is five (5) years after the Fifth Amendment Effective Date, as may be extended pursuant to Section 12.1 or Section 2.17; provided, however, that if such date is not a
Business Day, the Scheduled Termination Date shall be the Business Day immediately preceding such date. 
 (xviii) The
definition of “Weekly Monitoring Event” is hereby deleted in its entirety and the following is substituted in its stead: 

“Weekly Monitoring Event” means (a) a Specified Event of Default has occurred and is continuing or
(b) the Borrower has failed to maintain, for five (5) consecutive Business Days, Excess Availability of the greater of (i) $35,000,000 and (ii) 12.5% of the Maximum Credit; provided that a Weekly Monitoring Event shall be deemed
continuing until the date on which, as applicable, in the case of the foregoing clause (a), such Specified Event of Default is cured or waived in accordance with Section 12.1, or, in the case of
the foregoing clause (b), Excess Availability has been greater than or equal to the greater of (i) $35,000,000 and (ii) 12.5% of the Maximum Credit, in each case under clauses (i) and
(ii), for at least thirty (30) consecutive days. 
 (d) Amendment to
Section 1.3. Section 1.3 of the Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead: 

“All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all
financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, except as otherwise specifically prescribed herein. Notwithstanding the
foregoing or anything to the contrary contained herein (including in the definitions of “Capitalized Lease” and/or “Capitalized Lease Obligation”), in the event of an accounting change requiring all leases to be capitalized, only
those leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Capitalized Leases in conformity with GAAP on the Fifth Amendment Effective Date shall be considered Capitalized Leases, and all
calculations and determinations under this Agreement or any other Loan Document shall be made or delivered, as applicable, in accordance therewith.” 

(e) Amendment to Section 2.15 (Revolving Commitment Increase). The third sentence of
Section 2.15(a) of the Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead: 

“Notwithstanding anything to the contrary herein, the aggregate amount of the Revolving Commitment Increases on and after
the Fifth Amendment Effective Date shall not exceed $100,000,000 (the “Incremental Availability”).” 

  
 8 

 (f) Amendment to Section 5.18 (USA PATRIOT
Act). Section 5.18 of the Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead: 

“Section 5.18 Sanctions Concerns; Anti-Corruption Laws; Anti-Money Laundering Laws. 

(a) Sanction Concerns. No Loan Party, nor any Subsidiary, nor, to the knowledge of the Loan Parties and their
Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is (i) currently the subject or target of any Sanctions,
(ii) included on OFAC’s List of Specially Designated Nationals, HMT’s Consolidated List of Financial Sanctions Targets and the Investment Ban List or any similar list enforced by any Sanctions authority, or (iii) located,
organized or resident in a Designated Jurisdiction, in each case unless otherwise authorized or approved by the relevant Sanctions authority. 

(b) Anti-Corruption Laws; Anti-Money Laundering Laws. The Loan Parties and their Subsidiaries have
(i) conducted their business in compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, the USA PATRIOT Act and the Proceeds of Crime (Money Laundering) and Terrorist Financing
Act (Canada), and (ii) instituted and maintained policies and procedures designed to promote and achieve compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and the USA
PATRIOT Act, to the extent such laws apply to the Loan Parties and their Subsidiaries.” 
 (g) Amendment to
Section 7.4 (Inventory Appraisals and Field Examinations). Sections 7.4(c) and (d) of the Credit Agreement are hereby deleted in their entirety and the following is substituted in their stead: 

“(c) The Borrower shall also cooperate with (and cause its Subsidiaries to cooperate with) the Administrative Agent, in
connection with updates to the Initial Inventory Appraisal that shall be in form and detail and from third-party appraisers reasonably acceptable to the Administrative Agent (the “Updated Inventory Appraisal”) for the purpose of
determining the amount of the Borrowing Base attributable to Inventory and the Administrative Agent may carry out, at the Borrower’s expense, one (1) Updated Inventory Appraisal in any period of 12 consecutive months; provided,
however, that notwithstanding the foregoing limitations (x)(i) at any time on or after the date on which Excess Availability has been less than the greater of (A) $50,000,000 and (B) 25% of the Maximum Credit, in each case, for five
(5) consecutive Business Days, the Administrative Agent may carry out, at the Borrower’s expense, two (2) Updated Inventory Appraisals in any period of 12 consecutive months, and (ii) at any time during the continuation of a
Specified Event of Default, the Administrative Agent may carry out, at the Borrower’s expense, Updated Inventory Appraisals as frequently as determined by the Administrative Agent in its reasonable discretion and (y) in addition to the
foregoing clause (x), the Administrative Agent may carry out, at the Lenders’ expense, one (1) additional Updated Inventory Appraisal in any period of 12 consecutive months. The Borrower shall furnish to the
Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or
other documents and the identity of all Account Debtors in respect of Accounts referred to therein. 

  
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 (d) The Administrative Agent may carry out investigations and reviews of
each Loan Party’s property at the reasonable expense of the Borrower (including field audits conducted by the Administrative Agent) (“Field Examination”) and the Administrative Agent may carry out, at the Borrower’s
expense, one (1) Field Examination in any period of 12 consecutive months; provided, however, that notwithstanding the foregoing limitations, (x)(i) at any time on or after the date on which Excess Availability has been less
than the greater of (A) $ 50,000,000 and (B) 25% of the Maximum Credit, in each case, for five (5) consecutive Business Days, the Administrative Agent may carry out, at the Borrower’s expense, two (2) Field Examinations in
any period of 12 consecutive months, and (ii) at any time during the continuation of a Specified Event of Default, the Administrative Agent may carry out, at the Borrower’s expense, Field Examinations as frequently as determined by
the Administrative Agent in its reasonable discretion and (y) in addition to the foregoing clause (x), the Administrative Agent may carry out, at the Lenders’ expense, one (1) additional Field Examination in
any period of 12 consecutive months. The Borrower shall furnish to the Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the Borrowing Base including
correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of Accounts referred to therein.” 

(h) Amendment to Section 8.11 (Covenant to Guarantee Obligations and Give Security). Section
8.11 of the Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead: 

“Section 8.11 Covenant to Guarantee Obligations and Give Security. 

At the Borrower’s expense, subject to the provisions of the Collateral and Guarantee Requirement and any applicable
limitation in any Collateral Document, take all action necessary or reasonably requested by the Administrative Agent or the Collateral Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied, including: 

(a) (x) upon the formation or acquisition of any new direct or indirect Wholly-Owned Subsidiary that is a Material
Domestic Subsidiary (in each case, other than an Unrestricted Subsidiary or an Excluded Subsidiary) by any Loan Party, the designation in accordance with Section 8.3 of any existing direct or indirect Wholly-Owned
Subsidiary that is a Material Domestic Subsidiary as a Restricted Subsidiary or any Subsidiary becoming a Wholly-Owned Subsidiary that is a Material Domestic Subsidiary, (y) upon the acquisition of any material assets by the Borrower or any
other Loan Party or (z) with respect to any Subsidiary at the time it becomes a Loan Party, for any material assets held by such Subsidiary (in each case, other than assets constituting Collateral under a Collateral Document that becomes
subject to the Lien created by such Collateral Document upon acquisition thereof (without limitation of the obligations to perfect such Lien)): 

  
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 (i) within forty-five (45) days after such formation, acquisition or
designation or, in each case, such longer period as the Administrative Agent may agree in its reasonable discretion: 
 (A)
[reserved] 
 (B) cause each such Material Domestic Subsidiary that is required to become a Guarantor pursuant to the
Collateral and Guarantee Requirement to duly execute and deliver to the Collateral Agent Security Agreement Supplements, Intellectual Property Security Agreements and other security agreements and documents, as reasonably requested by and in form
and substance reasonably satisfactory to the Collateral Agent (consistent with the Security Agreement, Intellectual Property Security Agreements and other Collateral Documents in effect on the Effective Date), in each case granting Liens required by
the Collateral and Guarantee Requirement; 
 (C) cause each such Material Domestic Subsidiary that is required to become a
Guarantor pursuant to the Collateral and Guarantee Requirement to deliver any and all certificates representing Equity Interests (to the extent certificated) that are required to be pledged pursuant to the Collateral and Guarantee Requirement,
accompanied by undated stock powers or other appropriate instruments of transfer executed in blank (or any other documents customary under local law) and instruments evidencing the intercompany Indebtedness held by such Material Domestic Subsidiary
and required to be pledged pursuant to the Collateral Documents, indorsed in blank to the Collateral Agent; 
 (D)
(1) take and cause the applicable Material Domestic Subsidiary and each direct or indirect parent of the applicable Material Domestic Subsidiary that is required to become a Guarantor pursuant to the Collateral and Guarantee Requirement to take
whatever action (including the filing of UCC financing statements and delivery of stock and membership interest certificates to the extent certificated) may be necessary in the reasonable opinion of the Administrative Agent to vest in the Collateral
Agent (or in any representative of the Collateral Agent designated by it) valid Liens required by the Collateral and Guarantee Requirement, enforceable against all third parties in accordance with their terms, except as such enforceability may be
limited by Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in equity or at law) and (2) comply with the requirements of Section 8.12 with respect to all Deposit
Accounts; and 

  
 11 

 (ii) within forty-five (45) days after the request therefor by the
Administrative Agent (or such longer period as the Administrative Agent may agree in its reasonable discretion), deliver to the Administrative Agent a signed copy of an opinion, addressed to the Administrative Agent and the other Secured Parties, of
counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to such matters set forth in this Section 8.11(a) as the Administrative A gent may reasonably request; and 

(iii) [reserved] 

(b) (i) the Borrower shall obtain the security interests and Guarantees set forth on
Schedule 1.1A on or prior to the dates corresponding to such security interests and Guarantees set forth on Schedule 1.1A; and (ii) [reserved].” 

(i) Amendment to Section 8.13 (Further Assurances and Post-Closing Covenants). Section 8.13(b)
of the Credit Agreement is hereby deleted in its entirety and the phrase “[reserved]” is substituted in its stead. 

(j) Amendment to Section 9.1 (Liens). Clause (g) of Section 9.1 of the Credit
Agreement is hereby deleted in its entirety and the following is substituted in its stead: 
 “(g) easements, rights-of-way, restrictions (including zoning restrictions), encroachments, protrusions and other similar encumbrances and title defects affecting real property that, in the
aggregate, do not in any case materially interfere with the ordinary conduct of the business of the Borrower and its Subsidiaries taken as a whole, or the use of the property for its intended purpose;” 

(k) Amendment to Section 9.4 (Fundamental Changes). Clause (d)(ii)(E) of Section 9.4 of the
Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead: 
 “(E) [Reserved],
and” 
 (l) Amendment to Section 9.5 (Dispositions).

(i) Section 9.5(j) of the Credit Agreement is amended by (A) deleting clause (iv) thereof (including the proviso
thereto), (B) replacing “; and” immediately following clause (iii) thereof with a period and (C) inserting the word “and” at the end of clause (ii) thereof. 

(ii) The last paragraph of Section 9.5 of the Credit Agreement is hereby deleted in its entirety and the following is
substituted in its stead: 
 “provided that (x) any Disposition of any property pursuant to this
Section 9.5 (except pursuant to Sections 9.5(a), (e), (i), (k), (m), (n), (o) and (q) and except for Dispositions from the Borrower or a Restricted Subsidiary that is a Loan Party to the
Borrower or a Restricted Subsidiary that is a Loan Party), shall be for no less than the fair market value of such property at the time of such Disposition as determined by the Borrower in good faith, and (y) in the event of any Disposition
(including, without limitation, by way of Investment) of Intellectual Property used or useful in connection with the Current Asset 

  
 12 

 Collateral, the purchaser, assignee or other transferee thereof agrees in writing to be
bound by a non-exclusive royalty-free worldwide license of such Intellectual Property in favor of the Collateral Agent for use in connection with the exercise of the rights and remedies of the Secured Parties,
which license shall be in form and substance identical to the license described in the first paragraph of Section 4.01 of the Security Agreement, mutatis mutandis, or, at the election of the Borrower, otherwise reasonably satisfactory to
the Collateral Agent, provided further that in the case of a Disposition of Intellectual Property licensed by the Borrower or one of its Restricted Subsidiaries from a third party, the transferee thereof shall be required to provide
such a license only to the extent to which the applicable license gives it a right to do so. To the extent any Collateral is Disposed of as expressly permitted by this Section 9.5 to any Person other than a Loan Party, such
Collateral shall be sold free and clear of the Liens created by the Loan Documents, and, if requested by the Administrative Agent, upon the certification by the Borrower that such Disposition is permitted by this Agreement, the Administrative Agent
shall be authorized to take any actions deemed appropriate in order to effect the foregoing.” 
 (m) New
Section 9.16 (Use of Proceeds). The following new provision is hereby added to the Credit Agreement as Section 9.16: 

“Section 9.16 Use of Proceeds. Directly or, to its knowledge, indirectly use any Credit Extension or the
proceeds of any Credit Extension for any purpose which would breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, the USA PATRIOT Act or the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
(Canada).” 
 (n) New Section 9.17 (Sanctions). The following new provision is hereby
added to the Credit Agreement as Section 9.17: 
 “Section 9.17 Sanctions. Directly or, to its
knowledge, indirectly use the proceeds of any Credit Extension, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with any
individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, in each case except to the extent licensed or otherwise approved by the relevant Sanctions authority.” 

(o) New Section 12.28 (Bail-In Provisions). The
following new provision is hereby added to the Credit Agreement as Section 12.28: 
 “Section 12.28
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such
parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an
EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the application of
any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and 

  
 13 

 (b) the effects of any Bail-in
Action on any such liability, including, if applicable: 
 (i) a reduction in full or in part or cancellation of any such
liability; 
 (ii) conversion of all, or a portion of, such liability into shares or other instruments of ownership in such
EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.” 
 (p) Deleted
Schedules. Schedule 1.1D to the Credit Agreement (Mortgaged Properties) is hereby deleted. 
 4. Revolving Credit
Commitments; Reallocation of Revolving Loans and Participations in Letter of Credit Obligations. Schedule I to the Credit Agreement (Revolving Credit Commitments) shall be amended by deleting such schedule and replacing it with the
corresponding schedule set forth on Annex I attached hereto. All outstanding Revolving Loans and all participations in Letter of Credit Obligations shall, immediately upon the effectiveness of this Amendment, to the extent necessary to
ensure the Revolving Credit Lenders hold such Revolving Loans and participations ratably, be reallocated among the Revolving Credit Lenders in accordance with their respective Applicable Percentages. Each applicable Revolving Credit Lender to
whom Revolving Loans are so reallocated on the Fifth Amendment Effective Date shall make full cash settlement on the Fifth Amendment Effective Date, through the Administrative Agent, as the Administrative Agent may direct with respect to such
reallocation, in the aggregate amount of the Revolving Loans so reallocated to such Revolving Credit Lender. Each applicable Lender hereby waives any breakage fees in respect of such reallocation of Eurocurrency Rate Loans on the Fifth
Amendment Effective Date. 
 5. Representations and Warranties. Each of Holdings and the Borrower represents and warrants to the
Administrative Agent, the Collateral Agent and the Lenders that: 
 (a) the representations and warranties set forth in the Credit Agreement
and in each of the other Loan Documents are true and correct in all material respects on the Fifth Amendment Effective Date, as if made on and as of the Fifth Amendment Effective Date and as if each reference therein to “this Agreement” or
the “Credit Agreement” or the like includes reference to this Amendment and the Credit Agreement as amended hereby (except to the extent that such representations and warranties expressly relate to an earlier date, in which case they are
true and correct in all material respects as of such earlier date); provided, that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and
correct (after giving effect to any qualification therein) in all respects on such respective dates; and 

  
 14 

 (b) after giving effect to this Amendment, no Default or Event of Default exists as of the
Fifth Amendment Effective Date. 
 6. Conditions Precedent. The amendments set forth in this Amendment shall not be effective
until each of the following conditions precedent are satisfied: 
 (a) receipt by the Administrative Agent of copies of (i) this
Amendment, duly authorized and executed by the Borrower, Holdings and the Lenders, (ii) the Guarantor Consent and Reaffirmation, in substantially the form of Annex II attached hereto, duly authorized and executed by Holdings and each
Subsidiary Guarantor (the “Guarantor Consent and Reaffirmation”), and (iii) that certain Fifth Amendment Fee Letter, duly executed by the Borrower; 

(b) receipt by the Administrative Agent of an amended and restated Revolving Credit Note executed by the Borrower in favor of each Lender whose
Revolving Credit Commitment is changing on the Fifth Amendment Effective Date and that has requested a Note at least two (2) Business Days in advance of the Fifth Amendment Effective Date; 

(c) receipt by the Administrative Agent of reimbursement or payment of all reasonable out-of-pocket expenses (including, without limitation, reasonable fees and expenses of Choate, Hall & Stewart LLP, counsel to the Administrative Agent and the Collateral Agent) required to be
reimbursed or paid by the Loan Parties pursuant to the terms of Section 12.3 of the Credit Agreement, to the extent invoiced at least one (1) Business Day prior to the Fifth Amendment Effective Date; 

(d) receipt by the Administrative Agent of a Secretary’s Certificate from each of the Loan Parties certifying (i) the recent passage
and continued effectiveness of resolutions, in the case of the Borrower, approving the transactions contemplated by this Amendment and, in the case of the Guarantors, approving the Guarantor Consent and Reaffirmation, and (ii) the incumbency of
the officers executing this Amendment and the documents delivered in connection therewith to which such Loan Party is a party, in each case in form and substance reasonably satisfactory to the Administrative Agent; and 

(e) receipt by the Administrative Agent of a certificate of a Responsible Officer of the Borrower stating that after giving effect to this
Amendment, no Default or Event of Default shall have occurred and be continuing, nor shall any Default or Event of Default result from the consummation of the transactions contemplated herein. 

7. Effect on Loan Documents. As amended hereby, the Credit Agreement and the other Loan Documents (other than the Mortgages) shall
be and remain in full force and effect in accordance with their terms and hereby are ratified and confirmed by the Borrower in all respects. The execution, delivery, and performance of this Amendment shall not operate as a waiver of any right,
power, or remedy of the Administrative Agent, the Collateral Agent or the Lenders under the Credit Agreement or the other Loan Documents. The Borrower hereby acknowledges and agrees that, after giving effect to the Amendment, all of its
respective obligations and liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. After giving effect to the
Amendment and the release and discharge of the Mortgages pursuant to Section 2 hereof, the Borrower reaffirms each Lien granted by it to the Collateral 

  
 15 

 Agent for the benefit of the Secured Parties under each of the Loan Documents to which it is a party, which
Liens shall continue in full force and effect during the term of the Credit Agreement, and shall continue to secure the Obligations (after giving effect to the Amendment), in each case, on and subject to the terms and conditions set forth in the
Credit Agreement and the other Loan Documents. 
 8. No Novation; Entire Agreement. This Amendment is not a novation or
discharge of the terms and provisions of the obligations of the Borrower under the Credit Agreement and the other Loan Documents. There are no other understandings, express or implied, among the Borrower, the Administrative Agent, the
Collateral Agent and the Lenders regarding the subject matter hereof or thereof. 
 9. Governing Law. THIS AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 10. Counterparts; Electronic Execution. This
Amendment may be executed in any number of counterparts and by different parties and separate counterparts, each of which when so executed and delivered shall be deemed an original, and all of which, when taken together, shall constitute one and the
same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. Any party
delivering an executed counterpart of this Amendment by facsimile or other electronic transmission also shall deliver a manually executed counterpart of this Amendment but the failure to deliver a manually executed counterpart shall not affect the
validity, enforceability, and binding effect of this Amendment. 
 11. Construction. This Amendment and the Credit Agreement
shall be construed collectively and in the event that any term, provision or condition of any of such documents is inconsistent with or contradictory to any term, provision or condition of any other such document, the terms, provisions and
conditions of this Amendment shall supersede and control the terms, provisions and conditions of the Credit Agreement. Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “herein”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”,
“thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby. 

[Remainder of page intentionally left blank; signature pages follow.] 

  
 16 

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

			
	J. CREW GROUP, INC., as the Borrower
		
	By:	 	 /s/ VINCENT ZANNA

	Name:	 	Vincent Zanna
	Title:	 	Vice President and Treasurer
	
	CHINOS INTERMEDIATE HOLDINGS B, INC., as
	Holdings
		
	By:	 	 /s/ VINCENT ZANNA

	Name:	 	Vincent Zanna
	Title:	 	Vice President and Treasurer

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
			
	BANK OF AMERICA, N.A.,
	as Administrative Agent and Collateral Agent
		
	 By:
	 	 /s/ MATTHEW POTTER

		 	Name: Matthew Potter
		 	Title: Vice President
	
	BANK OF AMERICA, N.A.,
	as Swing Loan Lender, Issuer and a Lender
		
	 By:
	 	 /s/ MATTHEW POTTER

		 	Name: Matthew Potter
		 	Title: Vice President

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
					
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

 
					
			
	    	 	By:	 	 /s/ Y. SONIA ANANDRAJ

		 		 	Name: Y. Sonia Anandraj
		 		 	Title: Authorized Signer

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

	as a Lender
		
	 By:
	 	 /s/ BRIAN GINGUE

		 	Name: Brian Gingue
		 	Title: Senior Vice President

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
			
	 TD BANK, N.A.,
 as a
Lender

		
	 By:
	 	 /s/ JENNIFER VISCONTI

		 	Name: Jennifer Visconti
		 	Title: Vice President

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
a Lender

		
	 By:
	 	 /s/ CAROL ANDERSON

		 	Name: Carol Anderson
		 	Title: Vice President

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 
			
	GOLDMAN SACHS BANK USA, as a Lender
		
	 By:
	 	 /s/ ANNIE CARR

		 	Name: Annie Carr
		 	Title: Authorized Signatory

 [Signature Page to Fifth Amendment to Credit Agreement and Consent to Release of Mortgages] 

 Annex I 

SCHEDULE I TO 
 CREDIT
AGREEMENT 
 Revolving Credit Commitments 
  

									
	 Lender
	  	Revolving Credit Commitment	 	  	Applicable Percentage	 
	 Bank of America, N.A.
	  	$	110,000,000.00	 	  	 	31.428571429	% 
	 Wells Fargo Bank, National Association
	  	$	92,500,000.00	 	  	 	26.428571429	% 
	 HSBC Bank USA, National Association
	  	$	52,500,000.00	 	  	 	15.000000000	% 
	 TD Bank, N.A.
	  	$	35,000,000.00	 	  	 	10.000000000	% 
	 Goldman Sachs Bank USA
	  	$	30,000,000.00	 	  	 	8.571428571	% 
	 U.S. Bank National Association
	  	$	30,000,000.00	 	  	 	8.571428571	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	$	350,000,000.00	 	  	 	100	% 
		  	  
	  
	 	  	  
	  
	 

 Annex II 

GUARANTOR CONSENT AND REAFFIRMATION 

November 17, 2016 

Reference is made to (i) the Fifth Amendment to Credit Agreement and Consent to Release of Mortgages, dated as of November 17, 2016,
attached as Exhibit A hereto (the “Amendment”), among J. Crew Group, Inc., a Delaware corporation (the “Borrower”), Chinos Intermediate Holdings B, Inc., a Delaware corporation
(“Holdings”), Bank of America, N.A., as administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) and as collateral agent (in such capacity, including any successor
thereto, the “Collateral Agent”) under the Loan Documents, and each Lender party thereto, and (ii) the Credit Agreement dated as of March 7, 2011 (as amended, amended and restated, supplemented or otherwise modified
through the date hereof, including pursuant to the Amendment, the “Credit Agreement”), among the Borrower, Holdings, the Administrative Agent, the Collateral Agent and each Lender from time to time party thereto. Capitalized
terms used but not otherwise defined in this Guarantor Consent and Reaffirmation (this “Consent”) are used with the meanings attributed thereto in the Credit Agreement. 

Each Guarantor hereby consents to the execution, delivery and performance of the Amendment and agrees that each reference to the Credit
Agreement in the Loan Documents shall, on and after the Fifth Amendment Effective Date, be deemed to be a reference to the Credit Agreement in accordance with the terms of the Amendment. 

Each Guarantor hereby acknowledges and agrees that, after giving effect to the Amendment, all of its respective obligations and liabilities
under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. 

After giving effect to the Amendment, each Guarantor reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured
Parties under each of the Loan Documents to which it is a party, which Liens shall continue in full force and effect during the term of the Credit Agreement, and shall continue to secure the Obligations (after giving effect to the Amendment), in
each case, on and subject to the terms and conditions set forth in the Credit Agreement and the other Loan Documents. 
 Nothing in this
Consent shall create or otherwise give rise to any right to consent on the part of the Guarantors to the extent not required by the express terms of the Loan Documents. 

This Consent is a Loan Document and shall be governed by, and construed in accordance with, the law of the State of New York. 

[ The remainder of this page is intentionally left blank ] 

 IN WITNESS WHEREOF, the undersigned have caused this Consent to be executed as of the date
first above written. 
  

	
	 CHINOS INTERMEDIATE HOLDINGS B, INC.

	 J. CREW OPERATING CORP.

	 J. CREW INC.

	 J. CREW INTERNATIONAL, INC.

	 GRACE HOLMES, INC.

	 H. F. D. NO. 55, INC.

	 MADEWELL INC.

	 J. CREW VIRGINIA, INC.

	
	
By:                  
                                         
                              

	 Name:

	 Title:

 [Guarantor Consent and Reaffirmation Signature Page] 

 Exhibit A 

Fifth Amendment to Credit Agreement and 

Consent to Release of Mortgages 

See Attached.

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