Document:

Exhibit 10.15(a)
   
 HORACE MANN SERVICE CORPORATION
 EXECUTIVE CHANGE IN CONTROL PLAN
   
 SCHEDULE A PARTICIPANTS
    
   Note: The effective date of entry shall be subject to Section 4.2(a).
    
 	  NAME OR TITLE
 	 EFFECTIVE DATE
  OF
  PARTICIPATION*
 
	    
 	    
 
	 TIER I PARTICIPANTS
 
	  Former President and CEO
 	  November 14, 2012
 
	  President and CEO
 	  May 16, 2013
 
	    
 	    
 
	    
 	    
 
	    
 	    
 
	 TIER II PARTICIPANTS
 
	  EVP and CFO
 	   **
 
	  EVP and Chief Marketing Officer
 	   **
 
	  EVP, Property and Casualty
 	   **
 
	  EVP, Annuity, Life, Group
 	  February 15, 2012
 

    
  * Subject to acceptance within 30 days of effective date of participation
 ** Subject to Section 4.2(b) of the Plan
    
  Last updated: September 17, 2013Exhibit 10.16(b)
   
 HORACE MANN SERVICE CORPORATION
 EXECUTIVE SEVERANCE PLAN
   
 SCHEDULE A PARTICIPANTS
   
 	  NAME OR TITLE
 	 EFFECTIVE DATE
  OF
  PARTICIPATION*
 
	   
 
	 TIER I PARTICIPANTS
 
	  President and CEO
 	 September 17, 2013
 
	   
 	   
 
	   
 	   
 
	   
 	   
 
	 TIER II PARTICIPANTS
 
	  EVP and CFO
 	 June 1, 2012**
 
	  EVP and Chief Marketing Officer
 	 June 1, 2012**
 
	  EVP, Property and Casualty
 	 June 1, 2012**
 
	  EVP, Annuity, Life, Group
 	 March 15, 2012
 

    
 * Subject to acceptance within 30 days of the effective date of participation
 ** Designates an individual who, as of the Effective Date of Participation, is covered by a Severance Agreement, as defined in Section 4.3(c)(i) of the Plan.
    
  Last updated: September 17, 2013Loan Agreement 

 

THIS
LOAN AGREEMENT (the “Agreement”), is entered into as of November 5, 2013, between WEYCO GROUP, INC.,
a Wisconsin corporation (the “Borrower”), with an address at 333 West Estabrook Boulevard, Glendale, Wisconsin
53212, and PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 411 East Wisconsin Avenue,
Suite 1400, Milwaukee, Wisconsin 53202.

 

The Borrower and the Bank, with the intent to be legally bound,
agree as follows:

 

1.
Loan. The Bank has made or may make one or more loans (collectively, the “Loan”) to the Borrower
subject to the terms and conditions and in reliance upon the representations and warranties of the Borrower set forth in this
Agreement. The Loan is or will be evidenced by a promissory note or notes of the Borrower and all renewals, extensions, amendments
and restatements thereof (if one or more, collectively, the “Note”) acceptable to the Bank, which shall set
forth the interest rate, repayment and other provisions, the terms of which are incorporated into this Agreement by reference.

 

2.
Obligations. Amounts owing by the Borrower under the Loan, the Note and all other loans, advances, debts, liabilities,
obligations, covenants and duties owing by the Borrower to the Bank or to any other direct or indirect subsidiary of The PNC Financial
Services Group, Inc., of any kind or nature, present or future (including any interest accruing thereon after maturity, or after
the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to
the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), whether direct
or indirect (including those acquired by assignment or participation), absolute or contingent, joint or several, due or to become
due, now existing or hereafter arising, whether or not (i) evidenced by any note, guaranty or other instrument, (ii) arising under
any agreement, instrument or document, (iii) for the payment of money, (iv) arising by reason of an extension of credit, opening
of a letter of credit, loan, equipment lease or guarantee, (v) under any interest or currency swap, future, option or other interest
rate protection or similar agreement, (vi) under or by reason of any foreign currency transaction, forward, option or other similar
transaction providing for the purchase of one currency in exchange for the sale of another currency, or in any other manner, or
(vii) arising out of overdrafts on deposit or other accounts or out of electronic funds transfers (whether by wire transfer or
through automated clearing houses or otherwise) or out of the return unpaid of, or other failure of the Bank to receive final
payment for, any check, item, instrument, payment order or other deposit or credit to a deposit or other account, or out of the
Bank’s non-receipt of or inability to collect funds or otherwise not being made whole in connection with depository or other
similar arrangements; and any amendments, extensions, renewals and increases of or to any of the foregoing, and all costs and
expenses of the Bank incurred in the documentation, negotiation, modification, enforcement, collection and otherwise in connection
with any of the foregoing, including reasonable attorneys’ fees and expenses are hereinafter referred to collectively as
the “Obligations”. Unless expressly provided to the contrary in documentation for any other loan or loans,
it is the express intent of the Bank and the Borrower that all Obligations including those included in the Loan be cross-collateralized
and cross-defaulted, such that collateral securing any of the Obligations shall secure repayment of all Obligations and a default
under any Obligation shall be a default under all Obligations.

 

This Agreement, the Note, and all other agreements and documents
executed and/or delivered pursuant hereto, as each may be amended, modified, extended or renewed from time to time, are collectively
referred to as the “Loan Documents.” Capitalized terms not defined herein shall have the meanings ascribed
to them in the Loan Documents.

 

   

    	Form
                                                                                                                                                                      7G
                                                                                                                                                                      -
                                                                                                                                                                      Multistate
                                                                                                                                                                      Rev.
                                                                                                                                                                      9/12

    	 

    

 

3.
Representations and Warranties. The Borrower hereby makes the following representations and warranties, which shall
be continuing in nature and remain in full force and effect until the Obligations are paid in full, and which shall be true and
correct except as otherwise set forth on the Addendum attached hereto and incorporated herein by reference (the “Addendum”):

 

3.1.
Existence, Power and Authority. If not a natural person, the Borrower is duly organized, validly existing and in good
standing under the laws of the State of its incorporation or organization and has the power and authority to own and operate its
assets and to conduct its business as now or proposed to be carried on, and is duly qualified, licensed and in good standing to
do business in all jurisdictions where its ownership of property or the nature of its business requires such qualification or
licensing. The Borrower is duly authorized to execute and deliver the Loan Documents, all necessary action to authorize the execution
and delivery of the Loan Documents has been properly taken, and the Borrower is and will continue to be duly authorized to borrow
under this Agreement and to perform all of the other terms and provisions of the Loan Documents.

 

3.2.
Financial Statements. If the Borrower is not a natural person, it has delivered or caused to be delivered to the Bank
its most recent balance sheet, income statement and statement of cash flows, or if the Borrower is a natural person, its personal
financial statement and tax returns (as applicable, the “Historical Financial Statements”). The Historical
Financial Statements are true, complete and accurate in all material respects and fairly present the financial condition, assets
and liabilities, whether accrued, absolute, contingent or otherwise and the results of the Borrower’s operations for the
period specified therein. The Historical Financial Statements have been prepared in accordance with generally accepted accounting
principles (“GAAP”) consistently applied from period to period, subject in the case of interim statements to
normal year-end adjustments and to any comments and notes acceptable to the Bank in its sole discretion.

 

3.3.
No Material Adverse Change. Since the date of the most recent Financial Statements (as hereinafter defined), the Borrower
has not suffered any damage, destruction or loss, and no event or condition has occurred or exists, which has resulted or could
result in a material adverse change in its business, assets, operations, condition (financial or otherwise) or results of operation.

 

3.4.
Binding Obligations. The Borrower has full power and authority to enter into the transactions provided for in this
Agreement and has been duly authorized to do so by appropriate action of its Board of Directors if the Borrower is a corporation,
all its general partners if the Borrower is a partnership or otherwise as may be required by law, charter, other organizational
documents or agreements; and the Loan Documents, when executed and delivered by the Borrower, will constitute the legal, valid
and binding obligations of the Borrower enforceable in accordance with their terms.

 

3.5.
No Defaults or Violations. There does not exist any Event of Default under this Agreement or any default or violation
by the Borrower of or under any of the terms, conditions or obligations of: (i) its partnership agreement if the Borrower is a
partnership, its articles or certificate of incorporation, regulations or bylaws if the Borrower is a corporation or its other
organizational documents as applicable; (ii) any indenture, mortgage, deed of trust, franchise, permit, contract, agreement, or
other instrument to which it is a party or by which it is bound; or (iii) any law, ordinance, regulation, ruling, order, injunction,
decree, condition or other requirement applicable to or imposed upon it by any law, the action of any court or any governmental
authority or agency; and the consummation of this Agreement and the transactions set forth herein will not result in any such
default or violation or Event of Default.

 

3.6.
Title to Assets. The Borrower has good and marketable title to the assets reflected on the most recent Financial Statements,
free and clear of all liens and encumbrances, except for (i) current taxes and assessments not yet due and payable, (ii) assets
disposed of by the Borrower in the ordinary course of business since the date of the most recent Financial Statements, and (iii)
those liens or encumbrances, if any, specified on the Addendum.

 

 

    	 	- 2 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

 

3.7.
Litigation. There are no actions, suits, proceedings or governmental investigations pending or, to the knowledge of
the Borrower, threatened against the Borrower, which could result in a material adverse change in its business, assets, operations,
condition (financial or otherwise) or results of operations and there is no basis known to the Borrower for any action, suit,
proceeding or investigation which could result in such a material adverse change. All material pending and threatened litigation
against the Borrower is listed on the Addendum.

 

3.8.
Tax Returns. The Borrower has filed all returns and reports that are required to be filed by it in connection with
any federal, state or local tax, duty or charge levied, assessed or imposed upon it or its property or withheld by it, including
income, unemployment, social security and similar taxes, and all of such taxes have been either paid or adequate reserve or other
provision has been made therefor.

 

3.9.
Employee Benefit Plans. Each employee benefit plan as to which the Borrower may have any liability complies in all
material respects with all applicable provisions of the Employee Retirement Income Security Act of 1974 (as amended from time
to time, “ERISA”), including minimum funding requirements, and (i) no Prohibited Transaction (as defined under
ERISA) has occurred with respect to any such plan, (ii) no Reportable Event (as defined under Section 4043 of ERISA) has occurred
with respect to any such plan which would cause the Pension Benefit Guaranty Corporation to institute proceedings under Section
4042 of ERISA, (iii) the Borrower has not withdrawn from any such plan or initiated steps to do so, and (iv) no steps have been
taken to terminate any such plan.

 

3.10.
Environmental Matters. The Borrower is in compliance, in all material respects, with all Environmental Laws (as hereinafter
defined), including, without limitation, all Environmental Laws in jurisdictions in which the Borrower owns or operates, or has
owned or operated, a facility or site, stores Collateral, arranges or has arranged for disposal or treatment of hazardous substances,
solid waste or other waste, accepts or has accepted for transport any hazardous substances, solid waste or other wastes or holds
or has held any interest in real property or otherwise. Except as otherwise disclosed on the Addendum, no litigation or proceeding
arising under, relating to or in connection with any Environmental Law is pending or, to the best of the Borrower’s knowledge,
threatened against the Borrower, any real property which the Borrower holds or has held an interest or any past or present operation
of the Borrower. No release, threatened release or disposal of hazardous waste, solid waste or other wastes is occurring, or to
the best of the Borrower’s knowledge has occurred, on, under or to any real property in which the Borrower holds or has
held any interest or performs or has performed any of its operations, in violation of any Environmental Law. As used in this Section,
“litigation or proceeding” means any demand, claim notice, suit, suit in equity, action, administrative action,
investigation or inquiry whether brought by a governmental authority or other person, and “Environmental Laws”
means all provisions of laws, statutes, ordinances, rules, regulations, permits, licenses, judgments, writs, injunctions,
decrees, orders, awards and standards promulgated by any governmental authority concerning health, safety and protection of, or
regulation of the discharge of substances into, the environment.

 

3.11.
Intellectual Property. The Borrower owns or is licensed to use all patents, patent rights, trademarks, trade names,
service marks, copyrights, intellectual property, technology, know-how and processes necessary for the conduct of its business
as currently conducted that are material to the condition (financial or otherwise), business or operations of the Borrower.

 

3.12.
Regulatory Matters. No part of the proceeds of the Loan will be used for “purchasing” or “carrying”
any “margin stock” within the respective meanings of each of the quoted terms under Regulation U of the Board of Governors
of the Federal Reserve System as now and from time to time in effect or for any purpose which violates the provisions of the Regulations
of such Board of Governors.

 

3.13.
Solvency. As of the date hereof and after giving effect to the transactions contemplated by the Loan Documents, (i)
the aggregate value of the Borrower’s assets will exceed its liabilities (including contingent, subordinated, unmatured
and unliquidated liabilities), (ii) the Borrower will have sufficient cash flow to enable it to pay its debts as they become due,
and (iii) the Borrower will not have unreasonably small capital for the business in which it is engaged.

 

    	 	- 3 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

3.14.
Disclosure. None of the Loan Documents contains or will contain any untrue statement of material fact or omits or will
omit to state a material fact necessary in order to make the statements contained in this Agreement or the Loan Documents not
misleading. There is no fact known to the Borrower which materially adversely affects or, so far as the Borrower can now foresee,
might materially adversely affect the business, assets, operations, condition (financial or otherwise) or results of operation
of the Borrower and which has not otherwise been fully set forth in this Agreement or in the Loan Documents.

 

4.
Affirmative Covenants. The Borrower agrees that from the date of execution of this Agreement until all Obligations
have been paid in full and any commitments of the Bank to the Borrower have been terminated, the Borrower will:

 

4.1.
Books and Records. Maintain books and records in accordance with GAAP and give representatives of the Bank access thereto
at all reasonable times, including permission to examine, copy and make abstracts from any of such books and records and such
other information as the Bank may from time to time reasonably request, and the Borrower will make available to the Bank for examination
copies of any reports, statements and returns which the Borrower may make to or file with any federal, state or local governmental
department, bureau or agency.

 

4.2.
Unaudited Financial Statements; Certificate of No Default. Furnish the Bank within 45 days after the end of each of
the first three quarters of each fiscal year of the Borrower, the Borrower’s Financial Statements for such period, in reasonable
detail, certified by an authorized officer of the Borrower and prepared in accordance with GAAP consistently applied from period
to period. The Borrower shall also deliver a certificate as to its compliance with applicable financial covenants (containing
detailed calculations of all financial covenants) for the period then ended and whether any Event of Default exists, and, if so,
the nature thereof and the corrective measures the Borrower proposes to take. As used in this Agreement, “Financial Statements”
means the Borrower’s consolidated and, if required by the Bank in its sole discretion, consolidating balance sheets,
income statements and statements of cash flows for the year, month or quarter together with year-to-date figures and comparative
figures for the corresponding periods of the prior year.

 

4.3.
Annual Financial Statements. Furnish the Borrower’s Financial Statements to the Bank within 120 days after the
end of each fiscal year. Those Financial Statements will be prepared on an audited basis in accordance with GAAP by an independent
certified public accountant selected by the Borrower and satisfactory to the Bank. Audited Financial Statements shall contain
the unqualified opinion of an independent certified public accountant and all accountant examinations shall have been made in
accordance with GAAP consistently applied from period to period. The Borrower shall also deliver a certificate as to its compliance
with applicable financial covenants (containing detailed calculations of all financial covenants) for the period then ended and
whether any Event of Default exists, and, if so, the nature thereof and the corrective measures the Borrower proposes to take.

 

4.4.
Payment of Taxes and Other Charges. Pay and discharge when due all indebtedness and all taxes, assessments, charges,
levies and other liabilities imposed upon the Borrower, its income, profits, property or business, except those which currently
are being contested in good faith by appropriate proceedings and for which the Borrower shall have set aside adequate reserves
or made other adequate provision with respect thereto acceptable to the Bank in its sole discretion.

 

4.5.
Maintenance of Existence, Operation and Assets. Do all things necessary to (i) maintain, renew and keep in full force
and effect its organizational existence and all rights, permits and franchises necessary to enable it to continue its business
as currently conducted; (ii) continue in operation in substantially the same manner as at present; (iii) keep its properties in
good operating condition and repair; and (iv) make all necessary and proper repairs, renewals, replacements, additions and improvements
thereto.

 

    	 	- 4 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

  

4.6.
Insurance. Maintain, with financially sound and reputable insurers, insurance with respect to its property and business
against such casualties and contingencies, of such types and in such amounts, as is customary for established companies engaged
in the same or similar business and similarly situated.

 

4.7.
Compliance with Laws. Comply with all laws applicable to the Borrower and to the operation of its business (including
without limitation any statute, ordinance, rule or regulation relating to employment practices, pension benefits or environmental,
occupational and health standards and controls).

 

4.8.
Bank Accounts. Establish and maintain at the Bank the Borrower’s primary depository accounts.

 

4.9.
Additional Reports. Provide prompt written notice to the Bank of the occurrence of any of the following (together with
a description of the action which the Borrower proposes to take with respect thereto): (i) any Event of Default or any event,
act or condition which, with the passage of time or the giving of notice, or both, would constitute an Event of Default (a “Default”),
(ii) any litigation filed by or against the Borrower, (iii) any Reportable Event or Prohibited Transaction with respect to any
Employee Benefit Plan(s) (as defined in ERISA) or (iv) any event which might result in a material adverse change in the business,
assets, operations, condition (financial or otherwise) or results of operation of the Borrower.

 

5.
Negative Covenants. The Borrower covenants and agrees that from the date of this Agreement until all Obligations have
been paid in full and any commitments of the Bank to the Borrower have been terminated, except as set forth in the Addendum, the
Borrower will not, without the Bank’s prior written consent:

 

5.1.
Indebtedness. Create, incur, assume or suffer to exist any indebtedness for borrowed money other than: (i) the Loan
and any subsequent indebtedness to the Bank; and (ii) open account trade debt incurred in the ordinary course of business and
not past due.

 

5.2.
Liens and Encumbrances. Except as provided in Section 3.6, create, assume, incur or permit to exist any mortgage, pledge,
encumbrance, security interest, lien or charge of any kind upon any of its property, now owned or hereafter acquired, or acquire
or agree to acquire any kind of property subject to any conditional sales or other title retention agreement, except liens in
favor of the Bank and liens securing purchase money indebtedness permitted pursuant to Section 5.1 above.

 

5.3.
Guarantees. Guarantee, endorse or become contingently liable for the obligations of any person, firm, corporation or
other entity, except for guaranties of the obligations of entities that are wholly-owned by the Borrower and except in connection
with the endorsement and deposit of checks in the ordinary course of business for collection.

 

5.4.
Loans or Advances. Purchase or hold beneficially any stock, other securities or evidences of indebtedness of, or make
or have outstanding, any loans or advances to, or otherwise extend credit to, or make any investment or acquire any interest whatsoever
in, any other person, firm, corporation or other entity, except (a) investments disclosed on the Borrower’s Historical Financial
Statements or acceptable to the Bank in its sole discretion and (b) loans or advances to entities in which the Borrower owns a
majority of the equity interests or which the Borrower has the unconditional right to control, so long as the aggregate amount
of loans to such majority owned or controlled entities does not at any time exceed six million and 00/100 dollars ($6,000,000.00).

 

5.5.
Merger or Transfer of Assets. Liquidate or dissolve, or merge or consolidate with or into any person, firm, corporation
or other entity, or sell, lease, transfer or otherwise dispose of all or any substantial part of its property, assets, operations
or business, whether now owned or hereafter acquired.

 

    	 	- 5 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

5.6.
Change in Business, Management or Ownership. Make or permit, and cause each Guarantor under any guaranty not to make
or permit, any change in its form of organization, the nature of its business as carried on as of the date hereof, in the composition
of its current executive management, or in its equity ownership.

 

5.7.
Dividends. After the occurrence of an Event of Default, declare or pay any dividends on or make any distribution with
respect to any class of its equity or ownership interest, or purchase, redeem, retire or otherwise acquire any of its equity.

 

6.
Events of Default. The occurrence of any of the following will be deemed to be an Event of Default:

 

6.1.
Covenant Default. The Borrower shall default in the performance of any of the covenants or agreements contained in
this Agreement.

 

6.2.
Breach of Warranty. Any Financial Statement, representation, warranty or certificate made or furnished by the Borrower
to the Bank in connection with this Agreement shall be false, incorrect or incomplete when made.

 

6.3.
Other Default. The occurrence of an Event of Default as defined in the Note or any of the Loan Documents.

 

Upon the occurrence of an Event of Default, the Bank will have
all rights and remedies specified in the Note and the Loan Documents and all rights and remedies (which are cumulative and not
exclusive) available under applicable law or in equity.

 

7.
Conditions. The Bank’s obligation to make any advance under the Loan is subject to the conditions that as of
the date of the advance:

 

7.1.
No Event of Default. No Event of Default or event which with the passage of time, the giving of notice or both would
constitute an Event of Default shall have occurred and be continuing;

 

7.2.
Authorization Documents. The Bank shall have received certified copies of resolutions of the board of directors, the
general partners or the members or managers of any partnership, corporation or limited liability company that executes this Agreement,
the Note or any of the other Loan Documents; or other proof of authorization satisfactory to the Bank; and

 

7.3.
Receipt of Loan Documents. The Bank shall have received the Loan Documents and such other instruments and documents
which the Bank may reasonably request in connection with the transactions provided for in this Agreement, which may include an
opinion of counsel in form and substance satisfactory to the Bank for any party executing any of the Loan Documents.

 

8.
Expenses. The Borrower agrees to pay the Bank, upon the execution of this Agreement, and otherwise on demand, all costs
and expenses incurred by the Bank in connection with the preparation, negotiation and delivery of this Agreement and the other
Loan Documents, and any modifications thereto, and the collection of all of the Obligations, including but not limited to enforcement
actions, relating to the Loan, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions or
proceedings arising out of or relating to this Agreement, including reasonable fees and expenses of counsel (which may include
costs of in-house counsel), expenses for auditors, appraisers and environmental consultants, lien searches, recording and filing
fees and taxes.

 

9.
Increased Costs. On written demand, together with written evidence of the justification therefor, the Borrower agrees
to pay the Bank all direct costs incurred and any losses suffered or payments made by the Bank as a consequence of making the
Loan by reason of any change in law or regulation, or the interpretation thereof, imposing any reserve, deposit, allocation of
capital or similar requirement (including without limitation, Regulation D of the Board of Governors of the Federal Reserve System)
on the Bank, its holding company or any of their respective assets.

 

    	 	- 6 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

 

10.
Miscellaneous.

 

10.1.
Notices: All notices, demands, requests, consents, approvals and other communications required or permitted hereunder
(“Notices”) must be in writing and will be effective upon receipt. Notices may be given in any manner to which
the parties may separately agree, including electronic mail. Without limiting the foregoing, first-class mail, facsimile transmission
and commercial courier service are hereby agreed to as acceptable methods for giving Notices. Regardless of the manner in which
provided, Notices may be sent to a party’s address as set forth above or to such other address as any party may give to
the other for such purpose in accordance with this section.

 

10.2.
Preservation of Rights. No delay or omission on the Bank’s part to exercise any right or power arising hereunder
will impair any such right or power or be considered a waiver of any such right or power, nor will the Bank’s action or inaction
impair any such right or power. The Bank’s rights and remedies hereunder are cumulative and not exclusive of any other rights
or remedies which the Bank may have under other agreements, at law or in equity.

 

10.3.
Illegality. If any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect,
it shall not affect or impair the validity, legality and enforceability of the remaining provisions of this Agreement.

 

10.4.
Changes in Writing. No modification, amendment or waiver of, or consent to any departure by the Borrower from, any
provision of this Agreement will be effective unless made in a writing signed by the party to be charged, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given. Notwithstanding the foregoing,
the Bank may modify this Agreement or any of the other Loan Documents for the purposes of completing missing content or correcting
erroneous content, without the need for a written amendment, provided that the Bank shall send a copy of any such modification
to the Borrower (which notice may be given by electronic mail). No notice to or demand on the Borrower will entitle the Borrower
to any other or further notice or demand in the same, similar or other circumstance.

 

10.5.
Entire Agreement. This Agreement (including the documents and instruments referred to herein) constitutes the entire
agreement and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect
to the subject matter hereof.

 

10.6.
Counterparts. This Agreement may be signed in any number of counterpart copies and by the parties hereto on separate
counterparts, but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature
page to this Agreement by facsimile transmission shall be effective as delivery of a manually executed counterpart. Any party
so executing this Agreement by facsimile transmission shall promptly deliver a manually executed counterpart, provided that any
failure to do so shall not affect the validity of the counterpart executed by facsimile transmission.

 

10.7.
Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the Borrower and the Bank
and their respective heirs, executors, administrators, successors and assigns; provided, however, that the Borrower
may not assign this Agreement in whole or in part without the Bank’s prior written consent and the Bank at any time may
assign this Agreement in whole or in part.

 

10.8.
Interpretation. In this Agreement, unless the Bank and the Borrower otherwise agree in writing, the singular includes
the plural and the plural the singular; words importing any gender include the other genders; references to statutes are to be
construed as including all statutory provisions consolidating, amending or replacing the statute referred to; the word “or”
shall be deemed to include “and/or”, the words “including”, “includes” and “include”
shall be deemed to be followed by the words “without limitation”; references to articles, sections (or subdivisions
of sections) or exhibits are to those of this Agreement; and references to agreements and other contractual instruments shall
be deemed to include all subsequent amendments and other modifications to such instruments, but only to the extent such amendments
and other modifications are not prohibited by the terms of this Agreement. Section headings in this Agreement are included for
convenience of reference only and shall not constitute a part of this Agreement for any other purpose. Unless otherwise specified
in this Agreement, all accounting terms shall be interpreted and all accounting determinations shall be made in accordance with
GAAP. If this Agreement is executed by more than one party as Borrower, the obligations of such persons or entities will be joint
and several.

 

    	 	- 7 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

 

10.9.
No Consequential Damages, Etc. The Bank will not be responsible for any damages, consequential, incidental, special,
punitive or otherwise, that may be incurred or alleged by any person or entity, including the Borrower and any Guarantor, as a
result of this Agreement, the other Loan Documents, the transactions contemplated hereby or thereby, or the use of the proceeds
of the Loan.

 

10.10.
Assignments and Participations. At any time, without any notice to the Borrower, the Bank may sell, assign, transfer,
negotiate, grant participations in, or otherwise dispose of all or any part of the Bank’s interest in the Loan. The Borrower
hereby authorizes the Bank to provide, without any notice to the Borrower, any information concerning the Borrower, including
information pertaining to the Borrower’s financial condition, business operations or general creditworthiness, to any person
or entity which may succeed to or participate in all or any part of the Bank’s interest in the Loan.

 

10.11.
Governing Law and Jurisdiction. This Agreement has been delivered to and accepted by the Bank and will be deemed to
be made in the State where the Bank’s office indicated above is located. THIS
AGREEMENT WILL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE LAWS OF THE
STATE WHERE THE BANK’S OFFICE INDICATED ABOVE IS LOCATED, EXCLUDING ITS CONFLICT OF LAWS RULES. The Borrower
hereby irrevocably consents to the exclusive jurisdiction of any state or federal court in the county or judicial district where
the Bank’s office indicated above is located; provided that nothing contained in this Agreement will prevent the Bank from
bringing any action, enforcing any award or judgment or exercising any rights against the Borrower individually, against any security
or against any property of the Borrower within any other county, state or other foreign or domestic jurisdiction. The Bank and
the Borrower agree that the venue provided above is the most convenient forum for both the Bank and the Borrower. The Borrower
waives any objection to venue and any objection based on a more convenient forum in any action instituted under this Agreement.

 

10.12.
WAIVER OF JURY TRIAL. EACH OF THE BORROWER AND THE BANK IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS AGREEMENT, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS
AGREEMENT OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE BORROWER AND THE BANK ACKNOWLEDGE THAT THE FOREGOING WAIVER
IS KNOWING AND VOLUNTARY. 

 

The Borrower acknowledges that it has read and understood
all the provisions of this Agreement, including the waiver of jury trial, and has been advised by counsel as necessary or appropriate.

 

    	 	- 8 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

 

WITNESS the due execution hereof as a document under seal, as of the date first written above.

  

 

	 	WEYCO GROUP, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/S/ John Wittkowske	 
	 	 	(SEAL)	 
	 	Print Name: John Wittkowske 	 
	 	Title: Sr. VP - CFO 	 
	 	 	 	 
	 	By:  	/S/ Judy Anderson
	 	 	(SEAL)	 
	 	Print Name: Judy Anderson 	 
	 	Title: VP Finance & Treasurer 	 
	 	 	 	 
	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION 	 
	 	 	 	 
	 	 	 	 
	 	By:	/S/ James McMullen 	 
	 	 	(SEAL)	 
	 	 	James McMullen	 
	 	 	Senior Vice President	 

 

    	 	- 9 -	Form
                                                                                                                                                                                                                                                                                                                                                            7G
                                                                                                                                                                                                                                                                                                                                                            -
                                                                                                                                                                                                                                                                                                                                                            Multistate
                                                                                                                                                                                                                                                                                                                                                            Rev.
                                                                                                                                                                                                                                                                                                                                                            9/12

    	 

    

 

 

ADDENDUM to that certain Loan Agreement dated November
5, 2013 between WEYCO GROUP, INC. as the Borrower and PNC Bank, National Association, as the Bank. Capitalized terms used in this
Addendum and not otherwise defined shall have the meanings given them in the Agreement. Section numbers below refer to the sections
of the Agreement.

 

		3.6	Title
                                                                                       to Assets. Describe additional
                                                                                       liens and encumbrances below:

 

None

 

		3.7	Litigation.
                                                                                       Describe pending and threatened litigation,
                                                                                       investigations, proceedings, etc. below:

 

None

 

 

 

 

FINANCIAL COVENANTS

 

 

None

 

    	 	- 10 -	Form
                                                                                                                                                                                                                                                                                                                                                             7G
                                                                                                                                                                                                                                                                                                                                                             -
                                                                                                                                                                                                                                                                                                                                                             Multistate
                                                                                                                                                                                                                                                                                                                                                             Rev.
                                                                                                                                                                                                                                                                                                                                                             9/12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]