Document:

EX-10.8

 Exhibit 10.8 

SECOND AMENDMENT AND CONSENT TO CREDIT AGREEMENT 

SECOND AMENDMENT AND CONSENT TO CREDIT AGREEMENT, dated as of April 11, 2014 (this “Second Amendment”), among
OLLIE’S HOLDINGS, INC., a Delaware corporation (“Ollie’s Holdings”), OLLIE’S BARGAIN OUTLET, INC., a Pennsylvania corporation (“Ollie’s” and, together with Ollie’s Holdings, the
“Borrowers”), BARGAIN PARENT, INC., a Delaware corporation (“Parent”), the Lenders (as defined in the Credit Agreement referred to below) party hereto and JEFFERIES FINANCE LLC, in its individual capacity
(“Jefferies Finance”) and as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). All capitalized terms used herein and not otherwise defined herein shall have the respective meanings
provided to such terms in the Credit Agreement referred to below. 
 W I T N E S S E
T H: 
 WHEREAS, Parent, the Borrowers, the Lenders, the Administrative Agent and the other parties thereto are parties to
that certain Credit Agreement, dated as of September 28, 2012 (as amended, modified and/or supplemented through, but not including, the date hereof, the “Credit Agreement”); 

WHEREAS, Parent, the Borrowers, the Administrative Agent and each Lender party hereto desire to amend the Credit Agreement to decrease the
interest rate margin and floor applicable to the Term Loans and to make certain other changes to the Credit Agreement, in each case, as provided herein; 

WHEREAS, subject to the terms and conditions hereof, the Borrowers have requested that Jefferies Finance (the “Incremental Term
Lender”) make Incremental Term Loans on the Second Amendment Effective Date (as hereinafter defined) to the Borrowers in an aggregate principal amount of $60,000,000 (the “Designated 2014 Incremental Term Loans”), the
proceeds of which shall be used by the Borrowers and Parent to pay the 2014 Special Dividend (as defined below) and any fees and expenses incurred by the Borrowers in connection with such Designated 2014 Incremental Term Loans, in each case, as
provided herein; 
 WHEREAS, this Second Amendment shall serve as an Increased Facility Activation Notice and a New Lender Supplement
referred to in Section 2.22 of the Credit Agreement (and the Lenders party hereto consent to its treatment as such) in respect of the Designated 2014 Incremental Term Loans to be incurred hereunder and, in connection therewith, the
parties hereto hereby agree that (i) the Designated 2014 Incremental Term Loans to be incurred pursuant hereto shall be added to, and constitute part of the same Class as (and shall be treated as), the Term Loans originally incurred on the
Closing Date (including the Incremental Term Loans incurred on the First Amendment Effective Date), (ii) the aggregate principal amount of the Designated 2014 Incremental Term Loans (and related commitments) shall be $60,000,000 and shall be
treated as being incurred in reliance on the consent in Section II below, (iii) the Increased Facility Closing Date for the Designated 2014 Incremental Term Loans shall be the Second Amendment Effective Date, (iv) the Incremental Term
Maturity Date for the Designated 2014 Incremental Term Loans shall be the Maturity Date, (v) the amortization schedule for the Designated 2014 Incremental Term Loans shall be as set forth in Section 2.10 of

 
the Credit Agreement after giving effect to this Second Amendment and (vi) the Applicable Margin for the Designated 2014 Incremental Term Loans shall be the Applicable Margin after giving
effect to this Second Amendment; and 
 WHEREAS, concurrently with the effectiveness of this Second Amendment, Parent, the Borrowers, the
Lenders party thereto and the ABL Agent intend to amend (the “Second ABL Facility Amendment”) the ABL Facility to make certain changes to the ABL Facility, including to permit the payment of the 2014 Special Dividend. 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is acknowledged by each party hereto, it is agreed:

 I. Amendments to Credit Agreement. 

A. Section 1.01 of the Credit Agreement is hereby amended as follows: 

1. the definition of “ABR” is hereby amended by replacing the reference to “2.25%” appearing in
clause (d) thereof with “2.00%”. 
 2. the definition of “Applicable Margin” is hereby
amended and restated in its entirety as follows: 
 “Applicable Margin” shall mean (I) (a) with
respect to any unpaid interest that has accrued on the ABR Loans prior to the Second Amendment Effective Date, 3.00% and (b) with respect to any interest accruing on the ABR Loans on and after the Second Amendment Effective Date, 2.75% and (II)
(a) with respect to any unpaid interest that has accrued on the Eurodollar Loans prior to the Second Amendment Effective Date, 4.00% and (b) with respect to any interest accruing on the Eurodollar Loans on and after the Second Amendment
Effective Date, 3.75%. 
 3. the definition of “Commitment” is hereby amended and restated in its entirety
as follows: 
 “Commitment” shall mean with respect to each Lender, the commitment of such Lender to make
Term Loans pursuant to Section 2.01 in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Commitment” (or, (x) in the case of Incremental Term Loans
made under the First Amendment, opposite such Lender’s name on Schedule 1 to the First Amendment and (y) in the case of Incremental Term Loans made under the Second Amendment, opposite such Lender’s name on Schedule 1 to the Second
Amendment) or in an Assignment and Acceptance pursuant to which such Lender becomes a party hereto in accordance with Section 9.04, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The
aggregate amount of the Commitments on (x) the Closing Date was $225.0 million (which Commitments were terminated upon the making of the Term Loans on the Closing Date), (y) the First Amendment Effective Date was $50.0 million (which
Commitments were terminated upon the making of the Incremental Term Loans on the First Amendment Effective Date) and (z) the Second Amendment Effective Date is $60.0 million (which Commitments shall automatically terminate upon the making of
the Incremental Term Loans on the Second Amendment Effective Date). 

  
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 4. the definition of “Eurodollar Rate” is hereby amended by
replacing the reference to “1.25%” appearing in clause (a) thereof with “1.00%”. 
 5. the definition of
“Lender” is hereby amended and restated in its entirety as follows: 
 “Lender” shall mean
each financial institution listed on Schedule 2.01 hereto, Schedule 1 to the First Amendment, or Schedule 1 to the Second Amendment (other than, in each case, any such person that has ceased to be a party hereto pursuant to
an Assignment and Acceptance in accordance with Section 9.04), as well as any person that becomes a “Lender” hereunder pursuant to an Assignment and Acceptance in accordance with Section 9.04. 

6. the definition of “Term Loans” is hereby amended and restated in its entirety as follows: 

“Term Loans” shall mean the term loans made by the Lenders to the Borrowers on the Closing Date and shall
include, as part of the same Class as such term loans, the Incremental Term Loans made by the Incremental Term Lenders on the First Amendment Effective Date and on the Second Amendment Effective Date. 

and 
 7. inserting
in the appropriate alphabetical order the following new definitions: 
 “2014 Special Dividend” shall have
the meaning assigned to such term in Section 6.06(n). 
 “Second Amendment” shall mean the
Second Amendment to Credit Agreement, dated as of April 11, 2014, among Parent, the Borrowers, the Incremental Term Lenders party thereto, the Lenders party thereto and the Administrative Agent. 

“Second Amendment Effective Date” shall mean the date on which the Second Amendment is effective pursuant to
the terms thereof. 
 B. Section 2.01 of the Credit Agreement is hereby amended by inserting the following new clause
(c) at the end thereof: 
 “(c) Upon the terms and subject to the conditions set forth herein and in the Second
Amendment, each Incremental Term Lender on the Second Amendment Effective Date agrees, severally and not jointly, to make Incremental Term Loans to the Borrowers on (and subject to the occurrence of) the Second Amendment Effective Date in an
aggregate principal amount not to exceed the amount set forth opposite such Incremental Term Lender’s name on Schedule 1 to the Second Amendment. Amounts repaid or prepaid in respect of such Incremental Term Loans may not be
reborrowed.” 

  
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 C. Section 2.02 of the Credit Agreement is hereby amended by inserting the following
new clause (f) at the end thereof: 
 “(f) On the Second Amendment Effective Date, the Incremental Term Loans under
the Second Amendment shall be made by each Incremental Term Lender that is a party to the Second Amendment in the principal amount set forth opposite such Incremental Term Lender’s name on Schedule 1 to the Second Amendment. The failure of any
Incremental Term Lender to make any Incremental Term Loan required to be made by it shall not relieve any other Incremental Term Lender of its obligations hereunder. Notwithstanding anything to the contrary contained herein, (i) the Incremental
Term Loans made on the Second Amendment Effective Date shall be added to (and constitute part of the same Class as) the Term Loans made on (x) the Closing Date and (y) the First Amendment Effective Date, (ii) such Incremental Term
Loans shall be added to (and form part of) each Borrowing of outstanding Term Loans on the Second Amendment Effective Date on a pro rata basis (based on the relative sizes of the various outstanding Borrowings) so that each Lender (including each
such Incremental Term Lender) will participate proportionately in each then outstanding Borrowing of Term Loans, and (iii) in connection with the provisions of immediately preceding clause (ii), the parties hereto acknowledge and agree that the
effect thereof may result in the respective Incremental Term Loans having a short Interest Period (i.e., an Interest Period that began during an existing Interest Period then applicable to each outstanding Borrowing of Term Loans and which will end
on the last day of such Interest Period). Each Incremental Term Lender shall make the Incremental Term Loans to be made by it on the Second Amendment Effective Date in accordance with procedures substantially the same as were applicable to the Term
Loans originally made on the Closing Date (with such modifications as to timing of the respective wire transfers as may be agreed to by the Borrowers, the Administrative Agent and such Incremental Term Lenders). Each Incremental Term Lender’s
commitment to make Incremental Term Loans on the Second Amendment Effective Date shall automatically terminate upon the making of the respective Incremental Term Loans on such date.” 

D. Section 2.10 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Section 2.10 Repayment of Loans. Subject to the other paragraphs of this Section, commencing on the first full
fiscal quarter after the Closing Date, the Borrowers shall (subject to the application of Section 2.23) repay Borrowings (x) on the last Business Day of each fiscal quarter prior to the Maturity Date (each such date being referred
to as a “Term Loan Installment Date”), in each case in an amount equal to the sum of (i) 0.25% of the original principal amount of the Term Loans on the Closing Date, plus (ii) commencing with the Term Loan
Installment Date on (or closest to) May 3, 2013, 0.25% of the original principal amount of the Incremental Term Loans incurred on the First Amendment Effective Date, plus (iii) commencing with the Term Loan Installment Date on (or
closest to) May 2, 2014, 0.25% of the original principal amount 

  
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of the Incremental Term Loans incurred on the Second Amendment Effective Date (as such repayment amounts may be reduced from time to time pursuant to Sections 2.11 and 9.04(h)), and
(y) on the Maturity Date, shall be in an amount equal to the aggregate principal amount of all Term Loans outstanding on such date.” 

E. Section 2.12(c) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“At the time of the effectiveness of any Repricing Transaction that is consummated after the Second Amendment Effective
Date and prior to the 12 month anniversary of the Second Amendment Effective Date, the Borrowers agree to pay to the Administrative Agent, for the ratable account of each Lender with Term Loans that are either repaid, converted or subjected to a
pricing reduction in connection with such Repricing Transaction (including each Lender that withholds its consent to such Repricing Transaction and is replaced as a Non-Consenting Lender under Section 2.19 (but not, for the avoidance of
doubt, the Replacement Lender, in its capacity as such)), a fee in an amount equal to 1.0% of (x) in the case of a Repricing Transaction described in clause (x) of the definition thereof, the aggregate principal amount of all Term Loans
prepaid or converted in connection with such Repricing Transaction and (y) in the case of a Repricing Transaction described in clause (y) of the definition thereof, the aggregate principal amount of all Term Loans outstanding on such date
that are subject to an effective pricing reduction pursuant to such Repricing Transaction. Such fees shall be earned, due and payable upon the date of the effectiveness of such Repricing Transaction.” 

F. The first sentence of Section 5.12 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“The Borrowers will use the proceeds of (i) the Term Loans incurred on the Closing Date to consummate the Transaction and pay the
Transaction Costs, (ii) the Incremental Term Loans incurred on the First Amendment Effective Date to pay the Special Dividend, to pay the fees and expenses incurred in connection with such Incremental Term Loans and the First Amendment and for
general corporate purposes and (iii) the Incremental Term Loans incurred on the Second Amendment Effective Date to pay the 2014 Special Dividend, to pay the fees and expenses incurred in connection with such Incremental Term Loans and the
Second Amendment and for general corporate purposes.” 
 G. Section 6.06 of the Credit Agreement is hereby amended by
(i) deleting the word “and” appearing at the end of clause (l) thereof, (ii) deleting the period appearing at the end of clause (m) thereof and inserting “; and” in lieu thereof and (iii) inserting the
following new clause (n) at the end thereof: 
 “(n) as soon as reasonably practicable after the Second Amendment
Effective Date, Ollie’s may use the proceeds of the Incremental Term Loans incurred on the Second Amendment Effective Date to pay a cash dividend to Ollie’s Holdings which in turn may use the proceeds of such Incremental Term Loans and/or
the proceeds received from Ollie’s as provided herein to pay a cash dividend to Parent in an aggregate amount not to exceed $58,000,000 (the “2014 Special Dividend”).” 

  
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 II. Consent to Credit Agreement. 

Notwithstanding anything to the contrary set forth in Section 2.22(a)(ii) of the Credit Agreement, the Required Lenders hereby consent to
the incurrence by the Borrowers of the Designated 2014 Incremental Term Loans on the Second Amendment Effective Date to fund the payment of (x) the 2014 Special Dividend and (y) the fees and expenses incurred in connection therewith so
long as all of the conditions and requirements (other than Section 2.22(a)(ii)) set forth in Section 2.22 shall be satisfied. It being understood and agreed that (i) the incurrence of the Designated 2014 Incremental Term Loans shall
not count against the Incremental Cap and (ii) the Designated 2014 Incremental Term Loans shall constitute “Incremental Term Loans” for all purposes under the Credit Agreement and the other Loan Documents. 

III. Representations and Warranties. 
 In
order to induce the Administrative Agent, the undersigned Lenders and the Incremental Term Lender to enter into this Second Amendment and, in the case of the Incremental Term Lender, to make the Designated 2014 Incremental Term Loans on the Second
Amendment Effective Date, Parent and each Borrower hereby represent and warrant that: 
 A. no Default or Event of Default has occurred and
is continuing on the date hereof or will have occurred and be continuing as of the Second Amendment Effective Date, both immediately before and immediately after giving effect to the Second Amendment; 

B. all of the representations and warranties of each Loan Party contained in the Credit Agreement and in the other Loan Documents are true and
correct in all material respects (without duplication of any materiality qualifier contained therein) on the date hereof and will be true and correct in all material respects (without duplication of any materiality qualifier contained therein) on
the Second Amendment Effective Date, both immediately before and immediately after giving effect to the Second Amendment, as though made on and as of the Second Amendment Effective Date (except for representations and warranties that expressly
relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date); 

C. (x) this Second Amendment, and the incurrence (and guaranty) of the Designated 2014 Incremental Term Loans contemplated hereby, have
been duly authorized by all corporate, stockholder, limited partnership or limited liability company action required to be obtained by each Loan Party, (y) this Second Amendment has been duly executed and delivered by each Loan Party and
(z) this Second Amendment, and the Credit Agreement (as amended by this Second Amendment), each constitutes a legal, valid and binding obligation of each Loan Party, enforceable against such Loan Party in accordance with its respective terms,
subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing; and 

  
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 D. the execution, delivery and performance by each Loan Party of this Second Amendment, and the
Borrowings (and guaranties) of the Designated 2014 Incremental Term Loans contemplated hereby, do not and will not (i) violate (A) any provision of (x) law, statute, rule or regulation applicable to such Loan Party, or (y) of the
certificate or articles of incorporation or other constitutive documents or by-laws of such Loan Party, (B) any applicable order of any court or any rule, regulation or order of any Governmental Authority or (C) any provision of any
indenture, certificate of designation for preferred stock, agreement or other instrument to which any Loan Party is a party or by which any of them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or
constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including any payment) or to a loss of a material benefit under any such
indenture, certificate of designation for preferred stock, agreement or other instrument, where any such conflict, violation, breach or default referred to in clause (i)(A)(x), (i)(B), (i)(C) or (ii) of this paragraph, could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect, or (iii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by any Loan Party, other
than the Liens created by the Loan Documents and Liens permitted by Section 6.02 of the Credit Agreement or where such creation or imposition of any Lien could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect; 
 IV. Conditions Precedent. 

Upon satisfaction of each of the following conditions, this Second Amendment shall be deemed effective (such date, the “Second
Amendment Effective Date”): 
 A. Parent, each Borrower, each other Loan Party (if any), the Administrative Agent, the Required
Lenders, each Lender with an outstanding Term Loan (including any new Lender that replaces a Non-Consenting Lender) and the Incremental Term Lender shall have signed a counterpart hereof and shall have delivered (including by way of electronic
transmission) the same to the Administrative Agent, c/o Lend Amend. Please submit signature pages online via www.lendamend.com or email two executed PDF signature pages to ollies@lendamend.com; 

B. concurrently with the funding of the Designated 2014 Incremental Term Loans, the Administrative Agent shall have received from the
Borrowers for the ratable account of each Lender that delivers to the Administrative Agent (or its counsel) an executed counterpart of this Second Amendment as provided in the preceding clause (A) on or prior to 3:00 pm (New York City time) on
April 4, 2014, a fee (the “Consent Fee”) in an amount equal to 0.15% of the aggregate principal amount of all Term Loans of each such Lender outstanding on the Second Amendment Effective Date (immediately before the occurrence
thereof); 
 C. concurrently with the funding of the Designated 2014 Incremental Term Loans, the Administrative Agent shall have received
from the Borrowers for the ratable account of each Lender with an Incremental Term Loan Commitment listed on Schedule 1 hereof, an upfront fee in an amount equal to 0.50% of the aggregate principal amount of such Lender’s Incremental Term Loan
Commitment; 

  
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 D. the Administrative Agent shall have received a written legal opinion of (i) Weil,
Gotshal & Manges LLP, special counsel to Parent and the Borrowers and (ii) McNees Wallace & Nurick LLC, special Pennsylvania counsel to Parent and the Borrowers, in each case, addressed to the Lenders and the Administrative
Agent, dated the Second Amendment Effective Date, and in form and substance usual and customary for transactions such as those contemplated hereby; 

E. the Administrative Agent shall have received a Borrowing Request in respect of the Designated 2014 Incremental Term Loans, in substantially
the same form delivered on the Closing Date in respect of the Term Loans, and otherwise in form and substance reasonably satisfactory to the Administrative Agent; 

F. all fees and expenses required to be paid to the Administrative Agent on the Second Amendment Effective Date (including, without
limitation, reasonable legal fees and expenses) shall have been paid; 
 G. the Administrative Agent shall have received (i) a solvency
certificate from the Chief Financial Officer of the Lead Borrower in substantially in the form of Exhibit F to the Credit Agreement (with appropriate modifications reasonably acceptable to the Administrative Agent), (ii) a certificate of
good standing with respect to each Loan Party from the Secretary of State (or other similar official) of the jurisdiction of its organization (to the extent such concept or a similar concept exists under the laws of such jurisdiction) as of a recent
date (and a bring-down thereof on the Second Amendment Effective Date), (iii) a certificate of the secretary or assistant secretary or other authorized officer of each Loan Party, dated the Second Amendment Effective Date, reasonably acceptable
to the Administrative Agent, certifying as to the incumbency and specimen signature of each officer of a Loan Party executing this Second Amendment or any other document delivered in connection herewith on behalf of any Loan Party and attaching
(x) a true and complete copy of the certificate of incorporation (or other applicable charter document) of each Borrower, including all amendments thereto, as in effect on the Second Amendment Effective Date, certified as of a recent date by
the Secretary of State (or analogous official) of the jurisdiction of its organization, that has not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (ii) above,
(y) a true and complete copy of the by-laws (or other applicable operating agreements) of each Borrower as in effect on the Second Amendment Effective Date, and (z) a true and complete copy of resolutions duly adopted by the Board of
Directors (or equivalent governing body) of each Loan Party authorizing the execution, delivery and performance of this Second Amendment and the performance of the Credit Agreement (as amended by this Second Amendment) and the other Loan Documents
and certifying that such resolutions have not been modified, rescinded or amended and are in full force and effect; provided that in the case of preceding clauses (x) and (y), such documents shall not be required to be delivered if such
certificate includes a certification by such officer that the applicable organizational documents delivered to the Administrative Agent in connection with the initial funding of Term Loans on the Closing Date remain in full force and effect and have
not been amended, modified, revoked or rescinded since the Closing Date; 
 H. concurrently with the funding of the Designated 2014
Incremental Term Loans, the Borrowers shall have paid to the Administrative Agent for the account of each Lender with outstanding Term Loans on, and immediately prior to, the Second Amendment Effective Date all accrued but unpaid interest owing with
respect to such Term Loans through the Second Amendment Effective Date; 

  
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 I. no Default or Event of Default shall have occurred and be continuing or would occur after
giving effect to (x) the incurrence by the Borrowers of the Designated 2014 Incremental Term Loans and (y) this Second Amendment; 

J. all of the representations and warranties of each Loan Party contained in this Second Amendment, the Credit Agreement and in the other Loan
Documents are true and correct in all material respects (without duplication of any materiality qualifier contained therein) on and as of the Second Amendment Effective Date, both immediately before and immediately after giving effect to the Second
Amendment, as though made on and as of the Second Amendment Effective Date (except for representations and warranties that expressly relate to an earlier date, in which case such representations and warranties shall be true and correct in all
material respects (without duplication of any materiality qualifier contained therein) as of such earlier date); 
 K. the Second Amendment
Effective Date (as defined in the Second ABL Facility Amendment) shall have occurred; and 
 L. the Administrative Agent shall have received
a certificate, dated the Second Amendment Effective Date and signed by a Responsible Officer of Parent or the Lead Borrower, certifying on behalf of Parent and each Borrower that the conditions in this Section IV (I) and (J) have been
satisfied. 
 V. Consent. The Borrowers and the Administrative Agent hereby consent to the assignment of any Designated 2014 Incremental Term Loans
to any Incremental Term Lender (other than a Disqualified Institution) who is not an existing Lender, an Affiliate of an existing Lender or a Related Fund in respect of an existing Lender, in each case, to the extent disclosed to such person prior
to the date hereof. 
 VI. Miscellaneous Provisions. 

A. This Second Amendment is limited to the matters specified herein and shall not constitute a modification, acceptance or waiver of any other
provision of the Credit Agreement or any other Loan Document and each of the Loan Documents as modified hereby shall remain in full force and effect in accordance with their respective terms. 

B. This Second Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when
executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same agreement. Delivery of an executed counterpart of this Second Amendment by telefacsimile or other electronic
method of transmission shall be equally as effective as delivery of an original executed counterpart of this Second Amendment. 
 C. THE
VALIDITY OF THIS SECOND AMENDMENT, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, AND THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR RELATED HERETO (WHETHER IN CONTRACT, TORT OR OTHERWISE) SHALL BE
DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
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 D. From and after the Second Amendment Effective Date, all references in the Credit Agreement and
each of the other Loan Documents to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import and each reference to the Credit Agreement shall be deemed to be references to the Credit
Agreement as modified hereby on the Second Amendment Effective Date. This Second Amendment shall constitute a “Loan Document” for all purposes under the Credit Agreement and the other Loan Documents. 

*        *        * 

  
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 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and
deliver this Second Amendment as of the date first above written. 
  

			
	OLLIE’S HOLDINGS, INC.,
	as Lead Borrower
		
	By:		 /s/ John Swygert

	Name:		John Swygert
	Title:		EVP – Chief Financial Officer
	
	 OLLIE’S BARGAIN OUTLET, INC.,

as Borrower

		
	By:		 /s/ John Swygert

	Name:		John Swygert
	Title:		EVP – Chief Financial Officer
	
	 BARGAIN PARENT, INC.,
 as
Parent

		
	By:		 /s/ John Swygert

	Name:		John Swygert
	Title:		EVP – Chief Financial Officer

  
 [Signature Page to
Ollie’s Credit Agreement Second Amendment] 

 
					
	JEFFERIES FINANCE LLC, as Administrative Agent and Incremental Term Lender
		
	By:		 /s/ J. Paul McDonnell

			Name:		J. Paul McDonnell
			Title:		Managing Director

  
 [Signature Page to
Ollie’s Credit Agreement Second Amendment] 

 Schedule 1 
  

					
	 	  	Incremental Term Loan Commitment	 
	 Jefferies Finance LLC
	  	$	60,000,000EX-10.10

 Exhibit 10.10 

Mark Butler 
 September 28, 2012 

Page 1 
 OLLIE’S BARGAIN OUTLET, INC.

 6295 Allentown Boulevard — Suite A 

Harrisburg, Pennsylvania 17112 

September 28, 2012 
 Mark Butler 

[Address on file with the Company] 
 Dear Mark: 

This letter (the “Agreement”) will set forth the terms of your employment with Ollie’s Bargain Outlet, Inc. (the
“Company”), an indirect, wholly-owned subsidiary of Bargain Holdings, Inc. (“Bargain Holdings”). 

WHEREAS, you are employed by the Company pursuant to that certain letter agreement, dated April 15, 2010, by and between you and the
Company (the “Prior Agreement”); 
 WHEREAS, pursuant to that certain Agreement and Plan of Merger (as modified,
supplemented or restated, the “Merger Agreement”), dated as of August 27, 2012, by and among Bargain Parent, Inc. (“Parent”), Bargain Merger Sub, Inc. (“Merger Sub”), Ollie’s Holdings,
Inc. (“Ollie’s Holdings”) and KarpReilly, LLC, solely in its capacity as a representative upon the terms and subject to the conditions set forth therein, Parent will indirectly acquire 100% of the issued and outstanding capital
stock of Ollie’s Holdings in a reverse subsidiary merger transaction, whereby Merger Sub will be merged with and into Ollie’s Holdings (the “Merger”), with Ollie’s Holdings as the surviving corporation in the Merger;
and 
 WHEREAS, the Company desires to continue to employ you and you desire to continue to be employed by the Company following the Closing
(as defined in the Merger Agreement) on the terms and conditions set forth in the Agreement. 

  
 1 

 Mark Butler 

September 28, 2012 
  Page
 2
 
  

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants contained
herein, the parties hereto agree as follows: 
 1. Effective Date; Term. Your employment hereunder shall commence effective upon the
Closing (the “Effective Date”) and continue, unless sooner terminated in accordance with Section 6 hereof, until the third anniversary thereof (the “Initial Term”); provided, that, unless your employment
is earlier terminated in accordance with Section 6 hereof, your term of employment shall be automatically renewed for successive two-year terms (each, a “Renewal Term,” and together with the Initial Term, the “Term of
Employment”) upon the expiration of the Initial Term or any Renewal Term. Notwithstanding the foregoing, neither the Initial Term nor any Renewal Term shall be renewed if either you or the Company, not later than ninety (90) days prior
to the end of the Initial Term or any Renewal Term, as applicable, notifies the other in writing of the non-renewal of the Term of Employment. 

2. Duties, etc. During the Term of Employment you will be the Chief Executive Officer of the Company. In this capacity, you will
(i) have direct responsibility for overseeing all aspects of the day-to-day operations of the Company, (ii) have the Butler Consent Rights (as defined in the Stockholders’ Agreement (as defined in Section 6)), and
(iii) shall provide periodic financial and operational reports to the Board of Directors of the Company (the “Board”). You will be accountable to, and will also have such powers, duties and responsibilities as may from time to
time be prescribed by, the Board; provided, that such duties and responsibilities are consistent with the position of Chief Executive Officer. You will perform and discharge your duties and responsibilities faithfully, diligently and to the
best of your ability. You will devote substantially all of your working time and efforts to the business and affairs of the Company Group (as defined in Section 6); provided, however, that the foregoing shall not restrict your
engaging in civic, charitable and personal investment activities which do not materially affect your availability to any member of the Company Group during working time. So long as you are the Chief Executive Officer of the Company, you shall serve
as Chairman of the Board without additional compensation. 

  
 2 

 Mark Butler 

September 28, 2012 
  Page
 3
 
  

 3. Base Salary. As compensation for all services provided by you during the Term of
Employment, and subject to your performance in accordance with the terms of this Agreement, the Company shall pay you a base salary at a rate of $500,000 per annum (the per annum amount in effect from time to time being referred to herein as the
“Base Salary”). All payments under this Section 3 will be made in accordance with the regular payroll practices of the Company. The amount of Base Salary shall be re-evaluated annually by the Compensation Committee of the
Board, or, if no such committee exists, the Board; provided, that the Base Salary may not be reduced to an amount below $500,000. 

4. Performance Bonus. In addition to your Base Salary, you will be eligible for an annual bonus (the “Bonus”) for each
fiscal year during the Term of Employment. As indicated in the following table, with respect to each fiscal year during the Term of Employment, if Company EBITDA for such fiscal year: (a) equals the Target EBITDA for such fiscal year, your
Bonus for such fiscal year shall be equal to 66.7% of your Base Salary, (b) is equal to or less than the Minimum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year shall be $0, (c) is equal to or greater than the
Maximum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year shall be 133.33% of your Base Salary, or (d) is greater than Target EBITDA but less than the Maximum EBITDA Threshold for such fiscal year, or is less than Target
EBITDA but greater than the Minimum EBITDA Threshold for such fiscal year, your Bonus for such fiscal year shall be determined by interpolating on a straight line basis between the Bonus amounts set forth in the following table and the corresponding
level of Company EBITDA; provided, that notwithstanding anything to the contrary contained in the foregoing, (i) for purposes of the calculation of any Bonus in respect of fiscal year 2012, (A) Base Salary shall mean the weighted
average of your (x) annual rate of base salary from the first day of fiscal year 2012 through immediately prior to the Closing plus (y) annual rate of Base Salary from the Closing through the last day of fiscal year 2012 and (B) the
Bonus shall be calculated in a manner consistent with past practices, and (ii) the Compensation Committee of the Board or, if no such committee exists, the Board (in each case, with the CCMP Consent (as defined in the Stockholders’
Agreement)) may, with your consent, change the manner in which any Bonus is determined and/or calculated (e.g., add a revenue component to the performance metrics). 

  
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 Mark Butler 

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	 Company EBITDA for fiscal year:
	  	 Bonus Amount

	 Equal to or greater than Maximum EBITDA Threshold
	  	133.33% of Base Salary
	 Equal to Target EBITDA
	  	66.7% of Base Salary
	 Equal to or less than Minimum EBITDA Threshold
	  	$0

 You must be employed on the first business day of the next fiscal year in order to be eligible for a Bonus in respect of the
prior fiscal year, except as otherwise set forth in Section 6(a). The Bonus for each fiscal year shall be paid to you at the same time that other senior executives of the Company receive bonus payments, but in no event later than April 15
of the fiscal year following the fiscal year to which the Bonus relates, except as otherwise set forth in Section 6(a). 
 For purposes
of this Agreement: 
 “Company EBITDA” shall mean, with respect to a fiscal year of Bargain Holdings, the sum of (without
duplication) (a) Consolidated Net Income for such fiscal year and (b) to the extent Consolidated Net Income has been reduced thereby, (i) all income taxes of the Company Group recorded as a tax provision in accordance with GAAP for
such period (other than income taxes attributable to items (a), (b), and (f) included in the definition of Consolidated Net Income), (ii) Consolidated Interest Expense, (iii) Consolidated Non-Cash Charges, (iv) for fiscal year
2012 only, fees and expenses paid to Saunders Karp & Megrue, LLC (“SKM”) pursuant to the Management Agreement between SKM, the Company and Ollie’s Holdings dated as of August 7, 2003, (v) any fees and expenses
incurred by the Company, the Company Stockholders (as defined in the Merger Agreement) or Parent in connection with the consummation of the transactions contemplated by the Merger Agreement (to the extent not otherwise included in an item in this
clause (b)), all as determined on a consolidated basis for the Company Group in accordance with GAAP, and (vi) any non-cash equity compensation expense, store closing costs and, for fiscal year 2012 only, the Johnson City flood loss;
provided, that notwithstanding the forgoing, for fiscal year 2012 only, “Company EBITDA” shall also include or exclude such other items as are consistent with past practices of the Company in calculating fiscal year bonuses for
senior management executives of the Company as set by the board of directors of the Company as in place in March 2012. The components of Company EBITDA will be determined by the independent auditor of the Company Group in accordance with GAAP. 

  
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 “Consolidated Interest Expense” shall mean, with respect to a fiscal year of
Bargain Holdings, the sum of (without duplication) (a) the aggregate of the interest expense of the Company Group for such fiscal year determined on a consolidated basis in accordance with GAAP and (b) the interest component of capitalized
lease obligations accrued by the Company Group during such period as determined on a consolidated basis in accordance with GAAP, less (c) the amount of any interest income received by the Company Group during such fiscal period and
(d) deferred financing costs and bank administration fees. 
 “Consolidated Net Income” shall mean, with respect to a
fiscal year of Bargain Holdings, the aggregate net income (or loss) of the Company Group for such fiscal year on a consolidated basis, determined in accordance with GAAP, which shall reflect the full charge resulting from the payment by the Company
Group of any base salary, bonus compensation (including without limitation the Bonus) or other payment to any person pursuant to any employment agreement with any member of the Company Group; provided, that there shall be excluded from the
calculation thereof (a) after-tax gains and losses from asset sales or abandonments or reserves relating thereto, (b) after-tax items classified as extraordinary gains or losses, (c) the net income (or loss) of any subsidiary of
Bargain Holdings to the extent that the declaration of dividends or similar distributions by that subsidiary is restricted by a contract, operation of law or otherwise, (d) the net income (or loss) of any other person or entity, other than a
subsidiary of Bargain Holdings, except to the extent of cash dividends or distributions paid to the Company Group by such other person or entity, (e) in the case of a successor to any member of the Company Group by consolidation or merger or as
a transferee of the assets of such member of the Company Group, any net income (or loss) of the successor corporation prior to such consolidation, merger or consolidation of assets, (f) management fees, if any, paid by the Company Group to the
CCMP Stockholders (as defined in the Stockholders’ Agreement) and their affiliates and (g) the after-tax impact of nonrecurring items of income and expense that are included in the determination of net income related to: (i) executive
officer severance payments, (ii) discontinued operations, (iii) insurance losses and recoveries, (iv) write-up/write-down of assets related to acquisitions, (v) cumulative effects of accounting changes and (vi) securities
registration expenses. 

  
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 “Consolidated Non-Cash Charges” shall mean, with respect to a fiscal year of
Bargain Holdings, the aggregate depreciation and amortization of the Company Group reducing Consolidated Net Income of the Company for such fiscal year. 

“GAAP” shall mean generally accepted accounting principles in the United States as in effect from time to time. 

“Maximum EBITDA Threshold”, “Minimum EBITDA Threshold” and “Target EBITDA” shall mean, for
any fiscal year of Bargain Holdings, such amounts as shall be determined by the Compensation Committee of the Board, or, if no such committee exists, the Board (in each case, with the CCMP Consent); provided, that the Maximum EBITDA Threshold
shall in no event be more than 15% higher than the Target EBITDA and the Minimum EBITDA Threshold shall in no event be more than 15% lower than the Target EBITDA; provided, further, that, after setting the Maximum EBITDA Threshold,
Minimum EBITDA Threshold and Target EBITDA for any fiscal year, the Compensation Committee of the Board, or, if no such committee exists, the Board (in each case, with the CCMP Consent) may subsequently adjust such amounts in the event of any
acquisition, disposition or other material transaction or event with respect to the Company Group with a view to maintaining the incentive nature of the Bonus. For fiscal year 2012, your Maximum EBITDA Threshold is $63,320,855, your Minimum EBITDA
Threshold is $46,802,371 and your Target EBITDA is $55,061,613. 
 5. Stock Options; Benefits. 

(a) On or promptly following the Effective Date, you shall be granted stock options to purchase all or any portion of an aggregate of 22,030.30
shares of non-voting common stock of Bargain Holdings, Inc. (the “Option”). The Option shall be issued pursuant to, and shall be subject to the terms and conditions of, the Bargain Holdings, Inc. 2012 Equity Incentive Plan and a
Bargain Holdings, Inc. 2012 Equity Incentive Plan Nonqualified Stock Option Award Agreement substantially in the form attached hereto as Exhibit A. 

  
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 (b) You will be eligible to receive six weeks, or thirty (30) days, of Paid Time Off
(“PTO”) per year, pro-rated for partial years. You will not be entitled to any cash, severance payment or other compensation for PTO not taken, and unused PTO may be carried over up to a maximum of five (5) days to succeeding
years. You will be eligible to participate in, and the Company will pay applicable premiums for, all benefit and welfare plans made generally available to senior management executives of the Company (including health, dental, vision, short and long
term disability, life and AD&D, and business travel accident insurance plans), as in effect from time to time, all subject to plan terms and generally applicable Company policies; provided, that notwithstanding the foregoing and excluding
any changes in any benefit plans or welfare plans or level of benefits thereunder, in each case, as proposed or approved by you, the minimum level of benefits provided to you under such plans shall, in the aggregate, be at least equal to the level
of benefits provided to you under such plans as of immediately prior to the Effective Date. In addition, during the Term of Employment, you will be entitled to the use of a Company car on the basis currently available to you, including the Company
payment of fuel, the cost of insurance and maintenance and repair on such car. The Company will continue to provide you with a long-term disability policy with a benefit amount that is consistent with the policy in effect for you as of immediately
prior to the Effective Date; provided, that the premium on such policy shall not exceed $15,000 per year. Following the Effective Date, the Company shall procure for the remainder of the Term of Employment one or more term life insurance
policies with an aggregate death benefit of $25 million; provided, that (i) you shall be the owner of such policies, (ii) the Company shall reimburse you for the amount of the premiums under such policy or policies which are paid by
you, (iii) the Company shall use commercially reasonable efforts to secure the best available rate(s) for such policy or polices and (iv) the annual aggregate premiums for such policies shall not exceed $100,000 (collectively, the
“Life Insurance Benefit”). You will be entitled to receive prompt reimbursement for all reasonable expenses incurred by you in performing services hereunder, including all expenses of travel while on business or at the request of
and in the service of the Company; provided, that such expenses are incurred and accounted for in accordance with the policies and procedures reasonably established by the Company. 

  
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 6. Termination of Employment; Severance Payments. You or the Company may terminate
your employment at any time and for any reason by giving written notice to the other in accordance with the terms of this Agreement; provided, that (i) the Company shall provide you with at least thirty (30) days’ prior written
notice in the case of termination of your employment without Cause (as defined below), excluding a termination due to death, Disability (as defined below) or the Company’s non-renewal of the Term of Employment and (ii) you shall provide
the Company with at least thirty (30) days’ prior written notice in the case of your termination of employment without Good Reason (as defined below), excluding a termination due to your non-renewal of the Term of Employment. The
parties’ rights and duties in the event of a termination of employment are as set forth below. 
 (a) If (x) the Company terminates
your employment without Cause (but excluding any termination due to your death, Disability), (y) you terminate your employment for Good Reason or (z) your employment terminates as a result of a non-renewal by the Company of the Term of
Employment, the Company will, in lieu of any other payments or benefits hereunder or otherwise, (i) continue to pay your Base Salary for the longer of (A) twenty-four (24) months following the Termination Date or (B) until the
end of the then current Term of Employment (the “Severance Period”), (ii) pay you, in a lump sum, a pro-rata portion of the Bonus for the fiscal year in which your termination occurs based on actual performance (determined by
multiplying the amount of such Bonus, which would be due for the full fiscal year by a fraction, the numerator of which is the number of days during the fiscal year of termination that you are employed with the Company and the denominator of which
is 365), payable in the calendar year following the calendar year in which the Termination Date occurs on the later of (A) the date that other senior executives of the Company receive bonus payments in respect of the fiscal year to which such
pro-rata Bonus relates or (B) the twenty-eighth (28th) day following the Termination Date, but in no event later than December 31 of such calendar year, (iii) continue to provide you with the Life Insurance Benefit during the
Severance Period, and (iv) continue to provide health, 

  
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life and disability insurance benefits to the extent permitted under such plans until the earlier of (A) the expiration of the Severance Period and (B) the date you have commenced new
employment (the “Benefits Continuation Period”); provided, that you make such affirmative and timely COBRA or other elections as are required for such benefits to continue; provided, further, that (x) any
such health, life and/or disability insurance continuation shall be treated as taxable compensation to you to the extent necessary to avoid adverse tax consequences on the Company or you resulting from the provision of tax free benefits to you and
(y) to the extent the continuation of health insurance benefits pursuant to this Section 6(a)(iv) extends beyond the expiration of the minimum required period of continuation coverage applicable to you under COBRA, the Company shall, in
its sole discretion, either (i) procure for the remaining portion of the Benefits Continuation Period health insurance coverage for you on terms and conditions substantially similar to the terms and conditions which would be applicable to you
under the health insurance plan of the Company which is then in effect to the extent you were still an employee of the Company as of such date (the “Comparable Health Insurance Terms”) or (ii) provide you with a cash amount
determined by the Company to be sufficient (after deduction of all federal, state and local income taxes) for you to obtain health insurance coverage on Comparable Health Insurance Terms for the remaining portion of the Benefits Continuation Period,
with such cash amount payable in equal installments at the beginning of each month during the remaining portion of the Benefits Continuation Period. Any obligation of the Company to you under this paragraph is conditioned, however, upon your signing
a release of claims in the form attached hereto as Exhibit B (as may be updated and revised by the Company to comply with applicable law to achieve its intent, the “Release”) within twenty-one (21) days following the
Termination Date and upon your not revoking the Release within seven (7) days thereafter, and is further conditioned upon your continuing compliance with the provisions of Sections 7 and 8. The cash severance set forth in Section 6(a)(i)
will be made in the form of salary continuation, and will begin at the Company’s next regular payroll period following the effective date of the Release (i.e., once it becomes irrevocable), but shall be retroactive to the Termination Date;
provided, that if the date on which such salary continuation may commence can occur in your immediately subsequent taxable year assuming the Release becomes irrevocable on the twenty-eighth (28th) day following the Termination Date, then
payment shall 

  
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commence in the immediately subsequent taxable year and otherwise in accordance with the terms of this Section 6(a). Notwithstanding anything to the contrary herein, in the event of a breach
of Section 7 or Section 8, you shall have no right to receive (or continue to receive) any amounts under this paragraph, and the Company shall retain all rights to pursue other available remedies (whether at law or equity) for any such
breach. 
 (b) If (x) the Company terminates your employment for Cause, (y) you terminate your employment without Good Reason, or
(z) your employment terminates by reason of your death, Disability or your non-renewal of the Term of Employment, the Company will, in lieu of any other payments or benefits hereunder or otherwise (including without limitation any severance
payments), pay you any Base Salary earned but not paid through the Termination Date. 
 You hereby acknowledge and agree that, other than
the payments described in this Section 6, upon the Termination Date you shall not be entitled to any other severance payments or benefits of any kind under any Company benefit plan or severance policy generally available to the Company’s
employees or otherwise. For purposes of this Agreement: 
 “Cause” shall mean (i) your conviction of fraud, a serious
felony, or a crime involving embezzlement, conversion of property or moral turpitude, (ii) a final non-appealable finding of your breach of any of your fiduciary duties to any one or more members of the Company Group or any of their respective
stockholders; provided, that you were given notice and failed to cure the breach, misrepresentation or omission within thirty (30) days thereafter, (iii) your willful and continual neglect or failure to discharge your duties,
responsibilities or obligations under any agreement between you on the one hand and any one or more members of the Company Group on the other hand (including, without limitation, agreements which may have other parties); provided, that you
were given notice and failed to cure the neglect or failure within thirty (30) days thereafter, (iv) your habitual drunkenness or substance abuse which materially interferes with your ability to discharge your duties, responsibilities and
obligations to any member of the Company Group; provided, that you were given notice and failed to cure such drunkenness or abuse within thirty (30) days thereafter, or (v) a material breach by you of any agreement between you on
the one hand and any one or more members of the Company Group on the other hand (including, without limitation, agreements which may have other parties); provided, that you were given notice and failed to cure such breach within thirty
(30) days thereafter; 

  
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 provided, further, that notwithstanding the foregoing, the Company may not terminate your
employment for “Cause” unless written notice of the Company’s intent to terminate you for “Cause” is provided within ninety (90) days following the date on which the non-employee members of the Board had actual
knowledge of the events or your acts or omissions, in sufficient detail, to determine that “Cause” exists, specifying in reasonable detail the conditions constituting “Cause.” 

“Company Group” shall mean Bargain Holdings and its direct and indirect subsidiaries; provided, that solely for
purposes of the calculation of any Bonus, the term “Company Group” shall mean Bargain Holdings and its direct and indirect subsidiaries which, as of the applicable date of determination, are run by you as Chief Executive Officer of the
Company so long as you are employed by the Company. 
 “Disability” shall mean any illness, injury, accident or condition
of either a physical or psychological nature which, despite reasonable accommodations, results in your being unable to perform substantially all of the duties of your employment with the Company Group for a period of ninety (90) consecutive
days or one hundred eighty (180) total days during any period of three hundred sixty-five (365) consecutive days. 
 “Good
Reason” shall mean, without your consent, (i) the Company’s material violation of its obligations under this Agreement, (ii) a material reduction in your authority (excluding, any reduction in the Butler Consent Rights in
accordance with the Stockholders’ Agreement), compensation, perquisites, position or responsibilities, other than any reduction in compensation or perquisites which affects all of the Company’s senior executives on a substantially equal or
proportionate basis, (iii) the occurrence of a Change of Control (as defined in the Bargain Holdings, Inc. 2012 Equity Incentive Plan, as may be amended from time to time), or (iv) a relocation of the Company’s primary business
location by more than 25 miles. In order to 

  
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invoke a termination for “Good Reason,” you shall provide written notice to the Board of the existence of one or more of the conditions constituting “Good Reason” within
ninety (90) days following the date on which you had actual knowledge of the condition or conditions, in sufficient detail, to determine that “Good Reason” exists, specifying in reasonable detail the conditions constituting “Good
Reason,” and the Company shall have thirty (30) days following receipt of such written notice (the “Cure Period”) during which it may cure the condition if such condition is subject to cure. In the event that the Company
fails to remedy the condition constituting “Good Reason” during the applicable Cure Period, your resignation for Good Reason must occur, if at all, within thirty (30) days following the expiration of the Cure Period. 

“Stockholders’ Agreement” shall mean that certain Stockholders’ Agreement of Bargain Holdings, Inc., entered into
as of September 28, 2012, by and among Bargain Holdings and the stockholders listed on the signature pages thereto, as such agreement may be amended from time to time. 

“Termination Date” shall mean the date your employment with the Company terminates, regardless of the reason;
provided, that in connection with a non-renewal of the Term of Employment, the date your employment with the Company terminates shall be the last day of the then current Term of Employment. Upon termination of your employment by either you or
the Company as provided herein, all rights, duties and obligations of you and the Company to each other pursuant to this Agreement shall cease, except as otherwise expressly provided in this Agreement (including, without limitation, Sections 4, 6,
7, 8, 9, 10, 12, 13 and 16 hereof). 
 7. Confidentiality; Proprietary Rights. Without the written consent of the Board, you will not
during or after the Term of Employment (i) disclose to any person or entity (other than any disclosure during the Term of Employment to a person or entity to which such disclosure is in your reasonable judgment necessary or appropriate in
connection with the performance of your duties as an executive officer of any member of the Company Group), any confidential, proprietary or trade secret information obtained by you while in the employ of any member of the Company Group, or
(ii) use any such information to the detriment of any member of the Company Group; provided, however, that the restrictions in clause (i) of this sentence shall not apply to information that is generally known to the public
other than as a result of unauthorized disclosure by you. 

  
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 All inventions, developments, methods, processes and ideas conceived, developed or reduced to
practice by you during your employment, and for six (6) months thereafter, which are directly or indirectly useful in, or relate to, the business of or products or services provided by or sold by any member of the Company Group shall be
promptly and fully disclosed by you to an appropriate executive officer of the Company (accompanied by all papers, drawings, data and other materials relating thereto) and shall be the exclusive property of the Company (or another member of the
Company Group specified by the Company). You will, upon the Company’s request and at its expense (but without any additional compensation to you), execute all documents reasonably necessary to assign your right, title and interest in any such
invention, development, method or idea (and to direct issuance to the Company (or another member of the Company Group specified by the Company) of all patents or copyrights with respect thereto). 

8. Restricted Activities. You acknowledge that in your employment with the Company you will have access to confidential, proprietary
and trade secret information which, if disclosed, would assist in competition against the Company Group and that you will also generate goodwill for the Company Group in the course of your employment. Therefore, you agree that the following
restrictions on your activities during and after your employment are necessary to protect the goodwill, confidential information and other legitimate interests of the Company Group: 

(a) During the Non-Competition Period (as defined below), neither you nor any of your affiliates will compete, or undertake any planning to
compete, in any way (whether directly or indirectly as an officer, director, employee, owner, investor, joint venturer, independent contractor or otherwise) with the Company Group. Specifically, but without limiting the foregoing, you will not work
or provide services, in any capacity, whether as an employee, independent contractor or otherwise, whether with or without compensation, to any person or entity who is engaged in any business that is competitive with the business of the Company
Group, as conducted or in planning (i.e., the Company Group has taken material steps 

  
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in implementing such plan) during your employment with the Company. A competitive business shall, without express or implied limitation, include any person or entity in the business of the retail
sale, direct marketing or wholesale of discounted or closeout merchandise in any state where the Company Group does business or in any state contiguous to a state in which the Company Group does business. You understand and agree that
(i) ownership of less than 5% of the outstanding stock of any publicly-traded corporation or XS Cargo Limited Partnership (“XSC”) will not in and of itself be deemed to result in any competition with the Company Group,
(ii) your provision of services to XSC during any time in which XSC has no stores in the United States and at a level consistent with what is contemplated by the Services Agreement by and between XSC and the Company, effective as of
June 3, 2011 will not in and of itself be deemed to result in any competition with the Company Group so long as it does not, either directly or indirectly, conflict with or interfere with the performance of your duties under this Agreement or
to the Company Group (including, without limitation, your fiduciary duties) and (iii) you will inform the Company Group and the CCMP Stockholders of any material changes or developments relating to XSC and answer all questions about or relating
to XSC which the Company Group or the CCMP Stockholders may have. For purposes of this Agreement, “Non-Competition Period” shall mean the period during the Term of Employment and for two (2) years thereafter; provided,
however, that in the event that the Company terminates your employment without Cause (excluding death, Disability or a non-renewal of the Term of Employment) or you terminate your employment for Good Reason, the Non-Competition Period shall
end on the Termination Date. 
 (b) During the Non-Competition Period, neither you nor any of your affiliates will recruit, offer employment
to, employ, engage as a consultant or independent contractor, lure or entice away any person or entity who (i) is on or at any time after the date hereof, an employee of any member of the Company Group or providing services to any member of the
Company Group as a consultant or independent contractor, or otherwise persuade any such person or entity to reduce or otherwise change the extent of such person’s or entity’s relationship with any member of the Company Group or
(ii) was an employee of any member of the Company Group or providing services to any member of the Company Group as a consultant or 

  
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independent contractor, in each case, at any time within twelve (12) months following the date of cessation of employment or services of such person or entity with the Company Group, or
otherwise persuade any such person or entity during such twelve (12) month period to reduce or otherwise change the extent of such person’s or entity’s relationship with any member of the Company Group. 

(c) During the Term of Employment and for a period of two (2) years thereafter, you shall not make any negative, disparaging, detrimental
or derogatory remarks or statements (written, oral, telephonic, electronic, or by any other method) about the Company Group or any of its affiliates, owners, partners, managers, directors, officers, employees or agents, including, without
limitation, any remarks or statements that would adversely affect in any manner (i) the conduct of the Company Group’s business taken as a whole or (ii) the business reputation or relationships of the Company Group and/or any of its
past or present officers, directors, agents, employees, attorneys, successors and assigns. Notwithstanding the foregoing, nothing in this Section 8(c) shall prevent you from making any truthful statement to the extent, but only to the extent
required by law, legal process or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent jurisdiction over you. 

In signing this Agreement, you give the Company assurance that you have carefully read and considered all the terms and conditions of this
Agreement, including the restraints imposed on you under Section 7 and this Section 8. You agree that these restraints are necessary for the reasonable and proper protection of the Company Group and its affiliates, and are reasonable in
respect to subject matter, length of time and geographic area. You further agree that, were you to breach any of the covenants contained in Section 7 or this Section 8, the damage to the Company Group and its affiliates would be
irreparable. You therefore agree that the Company, in addition to any other remedies available to it (including without limitation the remedies as provided in Section 6), shall be entitled without posting bond to preliminary and permanent
injunctive relief against any breach or threatened breach by you of any of those covenants. You further agree that, in the event that any provision of Section 7 or this Section 8 is determined to be

  
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unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, that provision shall be deemed to be modified to permit its
enforcement to the maximum extent permitted by law. It is also agreed that each of the Company’s affiliates shall have the right to enforce all of your obligations under this Agreement, including without limitation pursuant to this
Section 8. 
 9. 409A Compliance. 

(a) The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in
a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. In no event whatsoever will any member of the Company Group, or any of their respective affiliates or any directors, officers, agents, attorneys,
employees, executives, shareholders, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors or assigns of such member of the Company Group or such affiliate be liable for any additional tax, interest
or penalties that may be imposed on you under Code Section 409A or any damages for failing to comply with Code Section 409A. 
 (b)
A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under Code
Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references
to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If you are deemed on the Termination Date to be a “specified employee” within the meaning of that term under
Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” such
payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration 

  
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of the six (6)-month period measured from the date of your “separation from service” and (ii) the date of your death (the “Delay Period”). Upon the expiration of
the Delay Period, all payments and benefits delayed pursuant to this Section 9(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business
day following the expiration of the Delay Period to you in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

(c) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code
Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in any other taxable year; provided, that this clause (ii) shall not be violated with regard to expenses reimbursed under any
arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before the last day of your taxable year
following the taxable year in which the expense occurred. 
 (d) For purposes of Code Section 409A, your right to receive any
installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g.,
“payment shall be made within thirty (30) days following the Termination Date”), the actual date of payment within the specified period shall be within the sole discretion of the Company. 

10. Miscellaneous. The headings in this Agreement are for convenience only and shall not affect the meaning hereof. This Agreement
constitutes the entire agreement between the Company and you, and supersedes any prior communications, agreements, term sheets and understandings, written or oral, with respect to your employment and compensation and all matters pertaining thereto,
including, without limitation, the Prior Agreement and the Ollie’s 

  
 17 

 Mark Butler 

September 28, 2012 
  Page
 18
 
  

 
Management Term Sheet attached as Exhibit A to the Equity Exchange Agreement entered into as of August 27, 2012, by and between Bargain Parent, Inc. and you. If any provision in this
Agreement should, for any reason, be held invalid or unenforceable in any respect, it shall be construed by limiting it so as to be enforceable to the maximum extent compatible with applicable law. This Agreement shall be governed by and construed
in accordance with the internal substantive laws of the Commonwealth of Pennsylvania without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any other
jurisdiction. 
 11. Acceptance. In accepting this offer, you represent that you have not relied on any agreement or representation,
oral or written, express or implied, that is not set forth expressly in this Agreement. 
 12. Withholding. The Company may withhold
from any amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

13. Notices. Any, demand, consent or approval permitted or required to be given under this Agreement shall be deemed duly made or given
if it is in written form and delivered personally, by facsimile (with receipt confirmed), by prepaid, commercially recognized overnight carrier (with receipt confirmed), or by certified or registered mail, return receipt requested. Any party may
change the address to which any notice, demand, consent or approval shall be sent by a notice in writing to the other party in accordance with the provisions hereof. All notices shall be addressed as follow: 

If to you, to your last address on file in the records of the Company. 

With a copy to: 
 Barley Snyder

 126 East King Street 

Lancaster, PA 17602 
 Facsimile:
(717) 291-4660 
 Attention: Paul G. Mattaini 

  
 18 

 Mark Butler 

September 28, 2012 
  Page
 19
 
  

 If to the Company: 

Ollie’s Bargain Outlet, Inc. 

6295 Allentown Boulevard- Suite A 

Harrisburg, PA 17112 
 Attention:
Chief Financial Officer 
 With a copy to: 

CCMP Capital Advisors, LLC 
 245
Park Avenue, 16th Floor 
 New York, NY 10167 

Attention: Richard Zannino, Joe Scharfenberger and Official Notice Clerk 

Facsimile: (917) 464-7576 

and 
 Weil, Gotshal &
Manges LLP 
 767 Fifth Avenue 

New York, NY 10163 
 Facsimile:
(212) 310-8007 
 Attention: Harvey M. Eisenberg 

14. Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed will be deemed to be an
original and such counterparts will, when executed by the parties hereto, together constitute but one agreement. Facsimile and electronic signatures shall be deemed to be the equivalent of manually signed originals. 

15. Successors and Assigns. The provisions of this Agreement shall be binding on and shall inure to the benefit of the Company and its
assigns, including any successor in interest to the Company who acquires all or substantially all of the Company’s stock or assets. Neither this Agreement nor any of your rights, duties or obligations shall be assignable by you. All your rights
under this Agreement shall inure to the benefit of and be enforceable by your personal or legal representatives, estates, executors, administrators, heirs and beneficiaries. 

16. No Waiver; Amendment. No change or modification of this Agreement shall be valid unless the same shall be in writing and signed by
all of the parties hereto (with the CCMP Consent). No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver. No waiver of any of the provisions of this Agreement shall be deemed, or
shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, unless so provided in the waiver. 

  
 19 

 Mark Butler 

September 28, 2012 
  Page
 20
 
  

 17. Effectiveness of Agreement. Notwithstanding anything to the contrary contained
herein, this Agreement shall have no force or effect and shall be void ab initio in the event the Merger Agreement is terminated in accordance with Article 11 of the Merger Agreement or if the Closing (as defined in the Merger Agreement) does not
occur for any reason whatsoever. 
 [Signature Page to Follow] 

  
 20 

 
			
	Very truly yours,
	
	OLLIE’S BARGAIN OUTLET, INC.
		
	By:		/s/ John Swygert
	Name:		John Swygert
	Title		Executive Vice President and Chief Financial Officer

  

	
	Accepted and Agreed To
	
	/s/ Mark Butler
	Mark Butler

 [Mark Butler Employment Letter Agreement] 

 Exhibit A 

Form of Bargain Holdings, Inc. 2012 Equity Incentive Plan Nonqualified Stock Option Award Agreement 

See attached. 

 Exhibit B 

Form of 
 Release of Claims

 FOR AND IN CONSIDERATION OF the amounts to be provided to me in connection with the termination of my employment, as set forth in the
agreement between me and Ollie’s Bargain Outlet, Inc. (the “Company”) dated as of [            ], 2012 (“Letter Agreement”), which are conditioned upon my signing
this Release of Claims and to which I am not otherwise entitled, and for other good and valuable consideration, I, on my own behalf and on behalf of my heirs, executors, beneficiaries and personal representatives, and all others connected with me,
hereby release and forever discharge the Company, its parents, subsidiaries and other affiliates and all of their respective past and present officers, directors, shareholders, employees, agents, general and limited partners, members, managers,
joint venturers, representatives, successors and assigns, and all others connected with any of them, both individually and in their official capacities, from any and all causes of action, rights and claims, of any nature or type, known or unknown,
which I have had in the past, now have, or might now have, through the date of my signing of this Release of Claims, including, but not limited to, any such causes of action, rights or claims in any way resulting from, arising out of or connected
with my employment by, investment in, or other relationship with the Company or any of its affiliates or the termination of that employment, investment and/or relationship or pursuant to any federal, state or local law, regulation or other
requirement (including without limitation Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, and the fair employment practices laws of the state or states in which I have
provided services to the Company or its affiliates, each as amended from time to time); provided that nothing herein shall be a release of my rights to enforce any provision of the Letter Agreement or, the Stockholders’ Agreement (as defined in
the Letter Agreement). 
 In signing this Release of Claims, I acknowledge that I have had a reasonable amount of time to consider the terms
of this Release of Claims and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 

 In signing this Release of Claims, I acknowledge my understanding that I may not sign it prior to
the termination of my employment, but that I may consider the terms of this Release of Claims for up to twenty-one (21) days following the Termination Date (as defined in the Agreement). I also acknowledge that I am advised by the Company and
its subsidiaries and other affiliates to seek the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release of Claims and to consult with an attorney, if I wished to do so, or to consult
with any other person of my choosing before signing; and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 

I further acknowledge that, in signing this Release of Claims, I have not relied on any promises or representations, express or implied, that
are not set forth expressly in the Letter Agreement. I understand that I may revoke this Release of Claims at any time within seven (7) days of the date of my signing by written notice to the Company in accordance with Section 13 of the
Letter Agreement and that this Release of Claims will take effect only upon the expiration of such seven-day revocation period and only if I have not timely revoked it. 

Intending to be legally bound, I have signed this Release of Claims under seal as of the date written below. 

 

			
	Signature:		 

			
		
	Name (please print):		 

			
		
	Date Signed:

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