Document:

<PAGE>
                                                                   EXHIBIT (4b)

                                                                 EXECUTION COPY

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                             RUSSELL CORPORATION

                                NOTE AGREEMENT

                         Dated as of December 7, 1995

                                 $100,000,000

                   6.78% Senior Notes due November 30, 2008

===============================================================================

<PAGE>

                              TABLE OF CONTENTS

                        (Not a part of the Agreement)

<TABLE>
<CAPTION>
SECTION                             HEADING                                               PAGE
<S>                                                                                      <C>
SECTION 1.      DESCRIPTION OF NOTES AND COMMITMENT ....................................    1
        Section 1.1     Description of Notes ...........................................    1
        Section 1.2     Commitment, Closing Date .......................................    2

SECTION 2.      PREPAYMENT OF NOTES ....................................................    2
        Section 2.1     Required Prepayments ...........................................    2
        Section 2.2     Optional Prepayment with Premium ...............................    2
        Section 2.3     Prepayment of Notes upon a Change of Control ...................    3
        Section 2.4     Notice of Optional Prepayments .................................    5
        Section 2.5     Application of Prepayments .....................................    5
        Section 2.6     Direct Payment .................................................    5

SECTION 3.      REPRESENTATIONS ........................................................    5
        Section 3.1     Representations of the Company .................................    5
        Section 3.2     Representations of the Purchaser ...............................    6

SECTION 4.      CLOSING CONDITIONS .....................................................    7
        Section 4.1     Conditions .....................................................    7
        Section 4.2     Waiver of Conditions ...........................................    8

SECTION 5.      COMPANY COVENANTS ......................................................    8
        Section 5.1     Corporate Existence, Etc. ......................................    8
        Section 5.2     Insurance ......................................................    8
        Section 5.3     Taxes, Claims for Labor and Materials; Compliance with Laws ....    8
        Section 5.4     Maintenance, Etc. ..............................................    9
        Section 5.5     Nature of Business .............................................    9
        Section 5.6     Interest Charges Coverage Ratio ................................    9
        Section 5.7     Limitations on Debt ............................................    9
        Section 5.8     Limitation on Liens ............................................   10
        Section 5.9     Limitation on Long-Term Leases .................................   12
        Section 5.10    Restricted Payments ............................................   12
        Section 5.11    Investments ....................................................   13
        Section 5.12    Mergers, Consolidations and Sales of Assets ....................   14
        Section 5.13    Guaranties .....................................................   17
        Section 5.14    Repurchase of Notes ............................................   17
        Section 5.15    Transactions with Affiliates ...................................   18
        Section 5.16    Multiemployer Plan Liability and Termination of Pension Plans ..   18
        Section 5.17    Reports and Rights of Inspection ...............................   18
</TABLE>

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<TABLE>
<S>                                                                                      <C>
SECTION 6.      EVENTS OF DEFAULT AND REMEDIES THEREFOR ................................   21
        Section 6.1     Events of Default ..............................................   21
        Section 6.2     Notice to Holders ..............................................   22
        Section 6.3     Acceleration of Maturities .....................................   23
        Section 6.4     Rescission of Acceleration .....................................   23

SECTION 7.      AMENDMENTS, WAIVERS AND CONSENTS .......................................   24
        Section 7.1     Consent Required ...............................................   24
        Section 7.2     Solicitation of Holders ........................................   24
        Section 7.3     Effect of Amendment or Waiver ..................................   24

SECTION 8.      INTERPRETATION OF AGREEMENT; DEFINITIONS ...............................   25
        Section 8.1     Definitions ....................................................   25
        Section 8.2     Accounting Principles ..........................................   34
        Section 8.3     Directly or Indirectly .........................................   34

SECTION 9.      MISCELLANEOUS ..........................................................   34
        Section 9.1     Registered Notes ...............................................   34
        Section 9.2     Exchange of Notes ..............................................   34
        Section 9.3     Loss, Theft, Etc. of Notes .....................................   35
        Section 9.4     Expenses, Stamp Tax Indemnity ..................................   35
        Section 9.5     Powers and Rights Not Waived; Remedies Cumulative ..............   35
        Section 9.6     Notices ........................................................   35
        Section 9.7     Reproduction of Documents ......................................   36
        Section 9.8     Successors and Assigns .........................................   36
        Section 9.9     Survival of Covenants and Representations ......................   36
        Section 9.10    Severability ...................................................   36
        Section 9.11    Governing Law ..................................................   36
        Section 9.12    Captions .......................................................   37

Signature Page .........................................................................   37
</TABLE>

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<PAGE>

ATTACHMENTS TO NOTE AGREEMENT:

Schedule I        -        Purchaser Schedule

Schedule II       -        Description of Current Debt, Funded Debt, Long-Term
                           Leases, Liens and Investments

Schedule III      -        Subsidiaries of the Company

Exhibit A         -        Form of 6.78% Senior Note due November 30, 2008

Exhibit B         -        Representations and Warranties of the Company

Exhibit C         -        Description of Closing Opinion of Independent
                           Counsel for the Company

                                     iii
<PAGE>

                              RUSSELL CORPORATION
                                 One Lee Street
                         Alexander City, Alabama  35010

                                 NOTE AGREEMENT

                                  $100,000,000
                   6.78% Senior Notes due November 30, 2008

                                                                     Dated as of
                                                                December 7, 1995

To the Purchaser named in Schedule I
  hereto which is a signatory of this
  Agreement

Ladies and Gentlemen:

     The undersigned, RUSSELL CORPORATION, an Alabama corporation (the
"Company"), agrees with you as follows:

SECTION 1. DESCRIPTION OF NOTES AND COMMITMENT.

     Section 1.1  Description of Notes. The Company will authorize the issue and
sale of $100,000,000 aggregate principal amount of its 6.78% Senior Notes (the
"Notes") to be dated the date of issue, to bear interest from such date at the
rate of 6.78% per annum, payable semi-annually on May 31st and November 30th in
each year (commencing May 31, 1996) and at maturity and to bear interest on
overdue principal (including any overdue required or optional prepayment of
principal) and premium, if any, and (to the extent legally enforceable) on any
overdue installment of interest at the Overdue Rate after the date due, whether
by acceleration or otherwise, until paid, to be expressed to mature on November
30, 2008, and to be substantially in the form attached hereto as Exhibit A.
Interest on the Notes shall be computed on the basis of a 360-day year of twelve
30-day months. If any amount of principal, premium, if any, or interest on or in
respect of any Note becomes due and payable on any date which is not a Business
Day, such amount shall be payable on the next succeeding Business Day and the
period of extension shall be included in the computation of interest payable on
such Business Day. The Notes are not subject to prepayment or redemption at the
option of the Company prior to their expressed maturity dates except on the
terms and conditions and in the amounts and with the premium, if any, set forth
in Section 2 of this Agreement. The term "Notes" as used herein shall include
each Note delivered pursuant to this Agreement. You are hereinafter

                                       1
<PAGE>
sometimes referred to as the "Purchaser". The terms which are capitalized herein
shall have the meanings set forth in Section 8.1 unless the context shall
otherwise require.

     Section 1.2  Commitment, Closing Date. Subject to the terms and conditions
hereof and on the basis of the representations and warranties hereinafter set
forth, the Company agrees to issue and sell to you, and you agree to purchase
from the Company, Notes in the principal amount set forth opposite your name on
Schedule I hereto at a price of 100% of the principal amount thereof on the
Closing Date hereafter mentioned.

     Delivery of the Notes will be made at the offices of Prudential Capital
Group, One Gateway Center, 7-45 Raymond Boulevard West, Newark, N.J. 07102,
against payment therefor in Federal Reserve or other funds current and
immediately available at the principal office of Wachovia Bank of Georgia, N.A.
in the amount of the purchase price on December 7, 1995 (the "Closing Date").
The Notes delivered to you on the Closing Date will be delivered to you in the
form of a single registered Note for the full amount of your purchase (unless
different denominations (of not less than $1,000,000) are specified by you),
registered in your name or in the name of such nominee, as may be specified in
Schedule I attached hereto and in substantially the form attached hereto as
Exhibit A.

SECTION 2. PREPAYMENT OF NOTES.

     No prepayment of the Notes may be made except to the extent and in the
manner expressly provided in this Agreement.

     Section 2.1  Required Prepayments. In addition to paying the entire
outstanding principal amount and the interest due on the Notes on the maturity
date thereof, the Company agrees that on November 30th in each of the years 2003
through 2007, inclusive, it will prepay and apply and there shall become due and
payable on the principal indebtedness evidenced by the Notes an amount equal to
the lesser of (a) $16,666,666.67 or (b) the principal amount of the Notes then
outstanding. The entire remaining principal amount of the Notes shall become
due and payable on November 30, 2008. No premium shall be payable in connection
with any required prepayment made pursuant to this Section 2.1.

     In the event that the Company shall prepay less than all of the Notes
pursuant to Section 2.2 hereof, such payments shall be credited in each case
first, against the final maturities of the Notes being prepaid and then, against
the amounts of the prepayments required by this Section 2.1 on such Notes in the
inverse order of the maturities thereof.

     Section 2.2  Optional Prepayment with Premium. In addition to the payments
required by Section 2.1, upon compliance with Section 2.4 the Company shall have
the privilege, at any time and from time to time, of prepaying the outstanding
Notes, either in whole or in part (but if in part then in a minimum principal
amount of $1,000,000) by payment of the principal amount of the Notes, or
portion thereof to be prepaid, and accrued interest thereon to the date of such
prepayment, together with a premium equal to the Make-Whole Amount.

                                       2

<PAGE>
     Section 2.3 Prepayment of Notes upon a Change of Control. (a) In the event
that any Change of Control shall occur or the Company shall have actual
knowledge of any proposed Change of Control, the Company will give written
notice (the "Company Notice") of such fact by overnight courier in the manner
provided in Section 9.6 hereof to the holders of the Notes. The Company Notice
shall be sent promptly upon receipt of such knowledge by the Company and in any
event no later than three days following the occurrence of a Change of Control.
The Company Notice shall (1) describe the facts and circumstances of such Change
of Control in reasonable detail, (2) make reference to this Section 2.3(a) and
the right of the holders of the Notes to require payment on the terms and
conditions provided for in this Section 2.3(a), (3) offer in writing to prepay
the outstanding Notes, together with accrued interest to the date of prepayment
and a premium equal to the then applicable Make-Whole Amount, and (4) specify a
date for such prepayment (the "Change of Control Prepayment Date") which Change
of Control Prepayment Date shall be the later of (i) the date of such Change of
Control or (ii) a date not more than 60 days nor less than 30 days following the
date of such Company Notice. Each holder of the then outstanding Notes shall
have the right to accept such offer and require prepayment of the Notes held by
such holder by written notice to the Company (a "Noteholder Notice") sent by
overnight courier in the manner provided in Section 9.6 hereof not later than 25
days after the date of the Company Notice. The Company shall on the Change of
Control Prepayment Date prepay all, but not less than all, Notes held by holders
which have so accepted such offer of prepayment. The prepayment price of the
Notes payable upon the occurrence of a Change of Control shall be an amount
equal to 100% of the outstanding principal amount of the Notes so to be prepaid
and accrued interest thereon to the date of such prepayment, together with a
premium equal to the then applicable Make-Whole Amount determined as of the
Change of Control Prepayment Date.

     (b)  In the event that the holder of any Note shall have delivered to the
Company a Noteholder Notice pursuant to Section 2.3(a), then the Company shall
promptly, and in any event within five days after receipt of such Noteholder
Notice, deliver by overnight courier in the manner provided in Section 9.6
hereof written notice of such Noteholder Note to each other holder of the Notes
and, notwithstanding the provisions of Section 2.3(a), the right of each such
other holder to accept the offer of prepayment and require prepayment of the
Notes shall remain in effect until the later to occur of (1) 30 days after the
date of the Company Notice and (2) 15 days after the date of the notice required
to be delivered pursuant to this Section 2.3(b); provided, however, that the
provisions of this clause (2) shall only apply with respect to notices required
to be delivered pursuant to this Section 2.3(b) to the extent that such notices
relate to Noteholder Notices made prior to the expiration of the period
specified in Section 2.3(a).

     (c)  Without limiting the foregoing, if the Company fails to give the
Company Notice required pursuant to Section 2.3(a) as a result of the occurrence
of a Change of Control, each holder of the Notes shall have the right to require
the Company to prepay, and the Company will prepay, such holder's Notes in full,
together with accrued interest thereon to the date of prepayment and a premium
equal to the then applicable Make-Whole Amount; provided that each holder of the
Notes shall so notify the Company of its election to require the Company to
prepay its Notes in accordance with this Section 2.3(c) within 365 days after
such holder has actual knowledge of any such Change of Control by overnight
courier in the manner provided in Section 9.6 hereof. Notice of any required
prepayment pursuant to this Section 2.3(c) shall be delivered by a holder of the
Notes which was entitled to, but did not receive, such Company Notice to the
Company after

                                       3

<PAGE>

such holder has actual knowledge of such Change of Control. On the date (the
"Change of Control Delayed Prepayment Date") designated in such holder's notice
(which shall be not more than 60 days nor less than 30 days following the date
of such holder's notice), the Company shall prepay in full all the Notes held by
such holder, together with accrued interest thereon to the date of prepayment
and a premium equal to the then applicable Make-Whole Amount. If the holder of
any Note gives any notice pursuant to this Section 2.3(c), the Company shall
give a Company Notice within three days of receipt of such notice and identify
the Change of Control Delayed Prepayment Date to all other holders of the Notes
and each of such holders shall then and thereupon have the right to accept the
Company's offer to prepay the Notes held by such holder and require prepayment
of such Notes by delivery of a Noteholder Notice within 21 days of the date of
such Company Notice; provided only the any date for prepayment of such Notes
shall be the Change of Control Delayed Prepayment Date. On the Change of Control
Delayed Prepayment Date, the Company shall prepay in full the Notes of each
holder thereof which has accepted such offer of prepayment at a prepayment price
of 100% of the outstanding principal amount of the Notes so to be prepaid and
accrued interest thereon to the date of such prepayment, together with a premium
equal to the applicable Make-Whole Amount determined as of the Change of Control
Delayed Prepayment Date.

     (d)  For purposes of this Section 2.3:

     "Acquiring Person" shall mean a "person" or "group of persons" within the
meaning of Section 13(d) and 14(d) of the Securities and Exchange Act of 1934,
as amended.

     "Change of Control" of the Company shall mean that an Acquiring Person
(other than the Russell Family) directly or indirectly becomes the beneficial
owner of more than 50% of the total voting power of the Voting Stock of the
Company then outstanding.

     "Russell Family" shall mean, collectively:

          (a)  the lineal descendants (including Persons who have been legally
     adopted by a lineal descendant) and the spouses of lineal descendants of
     Benjamin Russell (founder of the Company), and

          (b)  the Benjamin and Roberta Russell Foundation, Incorporated, and

          (c)  any trust directly or indirectly controlled by, or for the
     benefit of, one or more of such Persons described in clause (a) above or
     directly or indirectly controlled by any corporation or partnership
     described in clause (d) below, and

          (d)  any corporation or partnership in which voting control as to
     such entity is held, directly or indirectly, by any one or more of the
     Persons described in clause (a) above or by such trusts described in clause
     (c) above, and

          (e)  any Person acting as the executor or administrator of the estate
     or other legal representative of any Person described in clause (a) above.

                                       4

<PAGE>

     Section 2.4  Notice of Optional Prepayments. The Company will give notice
of any prepayment of the Notes pursuant to Section 2.2 to each holder thereof
not less than 30 days nor more than 60 days before the date fixed for such
optional prepayment specifying (a) such date, (b) the principal amount of the
holder's Notes to be prepaid on such date, (c) that a premium may be payable,
(d) the date when such premium will be calculated, (e) the estimated premium,
and (f) the accrued interest applicable to the prepayment. Such notice of
prepayment shall also certify compliance with all requirements, if any, which
are conditions precedent to any such prepayment. Notice of prepayment having
been so given, the aggregate principal amount of the Notes specified in such
notice, together with accrued interest thereon and the premium, if any, payable
with respect thereto shall become due and payable on the prepayment date
specified in said notice. Two Business Days prior to the prepayment date
specified in such notice, the Company shall provide each holder of a Note
written notice of the premium, if any, payable in connection with such
prepayment and, whether or not any premium is payable, a reasonably detailed
computation of the Make-Whole Amount.

     Section 2.5  Application of Prepayments. All partial prepayments shall be
applied on all outstanding Notes ratably in accordance with the unpaid principal
amounts thereof.

     Section 2.6  Direct Payment. Notwithstanding anything to the contrary
contained in this Agreement or the Notes, in the case of any Note owned by you
or your nominee or owned by any subsequent Institutional Holder which has given
written notice to the Company requesting that the provisions of this Section 2.6
shall apply, the Company will punctually pay, and in any event not later than
12:00 p.m. New York, New York time, when due the principal thereof, interest
thereon and premium, if any, due with respect to said principal, without any
presentment thereof, directly to you, to your nominee or to such subsequent
Institutional Holder at your address or your nominee's address set forth in
Schedule I hereto or such other address as you, your nominee or such subsequent
Institutional Holder may from time to time designate in writing to the Company
or, if a bank account with a United States bank is designated for you or your
nominee on Schedule I hereto or in any written notice to the Company from you,
from your nominee or from any such subsequent Institutional Holder, the Company
will make such payments in immediately available funds to such bank account,
marked for attention as indicated, or in such other manner or to such other
account in any United States bank as you, your nominee or any such subsequent
Institutional Holder may from time to time direct in writing. In the event any
payment is received after 12:00 p.m. New York, New York time on any payment
date, such payment shall be deemed to have been received on the Business Day
next succeeding the date of such payment.

     Upon the payment in full of any Note held by you, your nominee or any
subsequent Institutional Holder; you, your nominee or any such subsequent
Institutional Holder hereby agrees to use your or its reasonable best efforts to
return said Note to the Company at the address set forth in Section 9.6 hereof.

SECTION 3. REPRESENTATIONS.

     Section 3.1  Representations of the Company. The Company represents and
warrants that all representations and warranties set forth in Exhibit B
attached hereto are true and correct

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<PAGE>

as of the date hereof and are incorporated herein by reference with the same
force and effect as though herein set forth in full.

       Section 3.2 Representations of the Purchaser. (a) You represent as of the
Closing Date, and in entering into this Agreement the Company understands, that
you are acquiring the Notes for the purpose of investment and not with a view to
the distribution thereof, and that you have no present intention of selling,
negotiating or otherwise disposing of the Notes; it being understood, however,
that the disposition of your Property shall at all times be and remain within
your control.

       (b)    You further represent, as of the Closing Date, at least one of the
following statements is an accurate representation as to each source of funds (a
"Source") to be used to pay the purchase price of the Notes to be purchased
hereunder:

              (i)    If an insurance company, the Source does not include assets
       allocated to any separate account maintained by it in which any employee
       benefit plan (or its related trust) has any interest, other than a
       separate account that is maintained solely in connection with its fixed
       contractual obligations under which the amounts payable, or credited, to
       such plan and to any participant or beneficiary of such plan (including
       any annuitant) are not affected in any manner by the investment
       performance of the separate account; or

              (ii)   the Source is either (x) an insurance company pooled
       separate account, within the meaning of Prohibited Transaction Exemption
       ("PTE") 90-1 (issued January 29, 1990), (y) a bank collective investment
       fund, within the meaning of the PTE 91-38 (issued July 12, 1991) and,
       except as such Purchaser shall have disclosed to the Company in writing
       pursuant to this clause (b), no employee benefit plan or group of plans
       maintained by the same employee organization beneficially owns more than
       10% of all assets allocated to such pooled separate account or collective
       investment fund or (z) the Source is an insurance company general account
       of which the assets are such that if any of them are, or are deemed to
       be, assets of any Plan, the acquisition of the Notes by such Purchaser
       pursuant hereto is eligible for and satisfies the requirements of PTE
       95-60 (issued July 12, 1995); or

              (iii)  the Source constitutes assets of an "investment fund"
       (within the meaning of Part V of PTE 84-14 managed by a "qualified
       professional asset manager" or "QPAM" (within the meaning of Part V of
       PTE 84-14), no employee benefit plan's assets that are included in such
       investment fund, when combined with the assets of all other employee
       benefit plans established or maintained by the same employer or by an
       affiliate (within the meaning of Section V(c)(1) of PTE 84-14) of such
       employer or by the same employer or by the same employee organization and
       managed by such QPAM, exceed 20% of the total client assets managed by
       such QPAM, the conditions of Part I(c) and (g) of PTE 84-14 are
       satisfied, neither the QPAM nor a person controlling or controlled by the
       QPAM (applying the definition of "control" in Section V(e) of the PTE
       84-14) owns a 5% or more interest in the Company and (x) the identity of
       such QPAM and (y) the names of all employee benefit plans whose assets
       are included in such investment fund have been disclosed to the Company
       in writing pursuant to this paragraph (iii); or

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<PAGE>

              (iv)   the Source is a governmental plan; or

              (v)    the Source is one or more employee benefit plans, or a
       separate account or trust fund comprised of one or more employee benefit
       plans, each of which has been identified to the Company in writing
       pursuant to this paragraph (v); or

              (vi)   the Source does not include assets of any employee benefit
       plan, other than a plan exempt from the coverage of ERISA.

As used in this paragraph, the terms "EMPLOYEE BENEFIT PLAN", "GOVERNMENTAL
PLAN", "PARTY IN INTEREST" and "SEPARATE ACCOUNT" shall have the respective
meanings assisted to such terms in Section 3 of ERISA.

SECTION 4.    CLOSING CONDITIONS.

       Section 4.1 Conditions. Your obligation to purchase the Notes on the
Closing Date shall be subject to the performance by the Company of its
agreements hereunder which by the terms hereof are to be performed at or prior
to the time of delivery of the Notes and to the following further conditions
precedent:

              (a)    Closing Certificate. You shall have received a certificate
       dated the Closing Date, signed by the President or a Vice President of
       the Company, the truth and accuracy of which shall be a condition to your
       obligation to purchase the Notes proposed to be sold to you and to the
       effect that (1) the representations and warranties of the Company set
       forth in Exhibit B attached hereto are true and correct on and with
       respect to the Closing Date, (2) the Company has performed all of its
       obligations hereunder which are to be performed on or prior to the
       Closing Date, and (3) no Default or Event of Default has occurred and is
       continuing.

              (b)    Legal Opinions. You shall have received from Bradley,
       Arant, Rose & White, independent counsel for the Company, an opinion
       dated the Closing Date, in form and substance satisfactory to you, and
       covering the matters set forth in Exhibit C attached hereto.

              (c)    Company's Existence and Authority. On or prior to the
       Closing Date, you shall have received, in form and substance reasonably
       satisfactory to you, such documents and evidence with respect to the
       Company as you may reasonably request in order to establish the existence
       and good standing of the Company and the authorization of the
       transactions contemplated by this Agreement.

              (d)    Legality of Investment. The Notes to be purchased by you
       shall be a legal investment for you under the laws of each jurisdiction
       to which you may be subject (without resort to any so-called "basket
       provisions" to such laws).

                                       7
<PAGE>

              (e)    Satisfactory Proceedings. All proceedings taken in
       connection with the transactions contemplated by this Agreement, and all
       documents necessary to the consummation thereof, shall be satisfactory in
       form and substance to you, and you shall have received a copy (executed
       or certified as may be appropriate) of all legal documents or proceedings
       taken in connection with the consummation of said transactions.

       Section 4.2 Waiver of Conditions. If on the Closing Date the Company
fails to tender to you the Notes to be issued to you on such date or if the
conditions specified in Section 4.1 have not been fulfilled, you may thereupon
elect to be relieved of all further obligations under this Agreement. Without
limiting the foregoing, if the conditions specified in Section 4.1 have not been
fulfilled, you may waive compliance by the Company with any such condition to
such extent as you may in your sole discretion determine. Nothing in this
Section 4.2 shall operate to relieve the Company of any of its obligations
hereunder or to waive any of your rights against the Company.

SECTION 5.    COMPANY COVENANTS.

       From and after the Closing Date and continuing so long as any amount
remains unpaid on any Note:

       Section 5.1 Corporate Existence, Etc. The Company will preserve and keep
in full force and effect, and will cause each Subsidiary to preserve and keep in
full force and effect, its corporate existence and all licenses and permits
which, individually or in the aggregate, are material to the proper conduct of
its business, provided that the foregoing shall not prevent any transaction
permitted by Section 5.12.

       Section 5.2 Insurance. The Company will maintain, and will cause each
Subsidiary to maintain, insurance coverage by financially sound and reputable
insurers and in such forms and amounts and against such risks as are customary
for corporations of established reputation engaged in the same or a similar
business and owning and operating similar properties.

       Section 5.3 Taxes, Claims for Labor and Materials: Compliance with Laws.
(a) The Company will promptly pay and discharge, and will cause each Subsidiary
promptly to pay and discharge, all lawful taxes, assessments and governmental
charges or levies imposed upon the Company or such Subsidiary, respectively, or
upon or in respect of all or any part of the Property or business of the Company
or such Subsidiary, all trade accounts payable in accordance with usual and
customary business terms, and all claims for work, labor or materials, which if
unpaid might become a Lien upon any Property of the Company or such Subsidiary;
provided the Company or such Subsidiary shall not be required to pay any such
tax, assessment, charge, levy, account payable or claim if (1) the validity,
applicability or amount thereof is being contested in good faith by appropriate
actions or proceedings which will prevent the forfeiture or sale of any Property
of the Company or such Subsidiary or any material interference with the use
thereof by the Company or such Subsidiary, and (2) the Company or such
Subsidiary shall set aside on its books, reserves deemed by it to be adequate
with respect thereto,

                                       8
<PAGE>

              (b) The Company will promptly comply and will cause each
Subsidiary to comply with all laws, ordinances or governmental rules and
regulations to which it is subject including, without limitation, the
Occupational Safety and Health Act of 1970, as amended, ERISA and all
Environmental Laws, the violation of which could materially and adversely affect
the properties, business, prospects, profits or condition (financial or
otherwise) of the Company and its Subsidiaries or would result in any Lien not
permitted under Section 5.8.

       Section 5.4 Maintenance, Etc. The Company will maintain, preserve and
keep, and will cause each Subsidiary to maintain, preserve and keep, its
properties which are used or useful in the conduct of its business (whether
owned in fee or a leasehold interest) in good repair and working order and from
time to time will make all necessary repairs, replacements, renewals and
additions so that at all times the efficiency thereof shall be maintained.

       Section 5.5 Nature of Business. Neither the Company nor any Subsidiary
will engage in any business if, as a result, the general nature of the business,
taken on a consolidated basis, which would then be engaged in by the Company and
its Subsidiaries would be changed from the general nature of the business
engaged in by the Company and its Subsidiaries on the date of this Agreement.

       Section 5.6 Interest Charges Coverage Ratio. The Company will keep and
maintain at all times the ratio of Net Income Available for Interest Charges to
Consolidated Interest Charges at not less than 2.0 to 1.0 for each elapsed
Rolling Four Quarters Period.

       Section 5.7 Limitations on Debt. (a) The Company will not, and will not
permit any Subsidiary to, create, assume, guarantee or otherwise incur or in any
manner be or become liable in respect of any Debt, except:

              (1) Funded Debt evidenced by the Notes;

              (2) Funded Debt of the Company and its Subsidiaries outstanding as
       of the Closing Date and described on Schedule II attached hereto;

              (3) additional Funded Debt of the Company and Debt of its
       Subsidiaries, provided that at the time of creation, issuance,
       assumption, guarantee or incurrence thereof and after giving effect
       thereto and to the application of the proceeds thereof:

                     (i)    Consolidated Funded Debt would not exceed 50% of
              Consolidated Total Capitalization, and

                     (ii)   the sum of (A) Debt secured by Liens permitted and
              incurred within the limitations of Section 5.8(h) and, without
              duplication, (B) the aggregate amount of all Debt of Subsidiaries
              (other than Debt of Subsidiaries permitted by Section 5.7(a)(5))
              and (C) the aggregate amount of Attributable Debt of the Company
              and its Subsidiaries, would not exceed 15% of Consolidated Net
              Worth;

              (4) Current Debt of the Company, provided that during the
       twelve-month period immediately preceding the date of any determination
       hereunder, there shall have been a

                                       9
<PAGE>

       period of 60 consecutive days during which (1) the Company shall have
       been free of all Current Debt or (ii) the largest aggregate principal
       amount of all Current Debt outstanding on each day of such 60-day period
       did not exceed the amount of additional Funded Debt which could have been
       issued or incurred by the Company within the limitations of Section
       5.7(a)(3) on each day of such period and which Current Debt shall during
       each day of such 60-day period be deemed to constitute outstanding Funded
       Debt for purposes of any determination of additional Funded Debt to be
       issued or incurred within the limitations of said Section 5.7(a)(3); and

              (5) Debt of a Subsidiary to the Company or to a Wholly-owned
       Subsidiary which is the parent corporation of such Subsidiary.

       (b)    The renewal, extension or refunding of any Funded Debt, issued,
incurred or outstanding pursuant to Section 5.7(a) shall constitute the issuance
of additional Funded Debt which is, in turn, subject to the limitations of the
applicable provisions of this Section 5.7.

       (c)    Any corporation which becomes a Subsidiary after the date hereof
shall for all purposes of this Section 5.7 be deemed to have created, assumed or
incurred at the time it becomes a Subsidiary all Debt of such corporation
existing immediately after it becomes a Subsidiary.

       Section 5.8 Limitation on Liens. The Company will not, and will not
permit any Subsidiary to, create or incur, or suffer to be incurred or to exist,
any Lien on its or their Property or assets, whether now owned or hereafter
acquired, or upon any income or profits therefrom, or transfer any Property for
the purpose of subjecting the same to the payment of obligations in priority to
the payment of its or their general creditors, or acquire or agree to acquire,
or permit any Subsidiary to acquire, any Property or assets upon conditional
sales agreements or other title retention devices, except:

              (a)    Liens for Property taxes and assessments or governmental
       charges or levies and Liens securing claims or demands of mechanics and
       materialmen, provided that payment thereof is not at the time required by
       Section 5.3;

              (b)    Liens of or resulting from any judgment or award not to
       exceed $10,000,000 in the aggregate, the time for the appeal or petition
       for rehearing of which shall not have expired, or in respect of which
       the Company or a Subsidiary shall at any time in good faith be
       prosecuting an appeal or proceeding for a review and in respect of which
       a stay of execution pending such appeal or proceeding for review shall
       have been secured;

              (c)    Liens incidental to the conduct of business or the
       ownership of properties and assets (including Liens in connection with
       worker's compensation, unemployment insurance and other like laws,
       warehousemen's and attorneys' liens and statutory landlords' liens) and
       Liens to secure the performance of bids, tenders or trade contracts, or
       to secure statutory obligations, surety or appeal bonds or other Liens of
       like general nature incurred in the ordinary course of business and not
       in connection with the borrowing of money, provided in each case, the
       obligation secured is not overdue or, if overdue, is being contested in
       good faith by appropriate actions or proceedings;

                                       10

<PAGE>
              (d)    minor survey exceptions or minor encumbrances, easements or
       reservations, or rights of others for rights-of-way, utilities and other
       similar purposes, or zoning or other restrictions as to the use of real
       properties, which are necessary for the conduct of the activities of the
       Company and its Subsidiaries or which customarily exist on properties of
       corporations engaged in similar activities and similarly situated and
       which do not in any event materially impair their use in the operation of
       the business of the Company and its Subsidiaries;

              (e)    Liens securing Indebtedness of a Subsidiary to the Company
       or to a Wholly-owned Subsidiary which is the parent corporation of such
       Subsidiary;

              (f)    Liens existing as of the Closing Date and described on
       Schedule II attached hereto;

              (g)    Liens created or incurred after the Closing Date given to
       secure the payment of the purchase price incurred in connection with the
       acquisition or construction of fixed assets useful and intended to be
       used in carrying on the business of the Company or a Subsidiary,
       including Liens existing on such fixed assets at the time of acquisition
       thereof or at the time of acquisition by the Company or a Subsidiary of
       any business entity then owning such fixed assets, whether or not such
       existing Liens were given to secure the payment of the purchase price of
       the fixed assets to which they attach so long as they were not incurred,
       extended or renewed in contemplation of such acquisition, provided that
       (1) the Lien shall attach solely to the fixed assets acquired or
       constructed, (2) such Lien shall have been created or incurred within
       twelve months of the date of acquisition or the date of completion of
       construction, (3) at the time of acquisition or construction of such
       fixed assets, the aggregate amount remaining unpaid on all Indebtedness
       secured by Liens on such fixed assets whether or not assumed by the
       Company or a Subsidiary shall not exceed an amount equal to the lesser of
       the total acquisition price or fair market value at the time of
       acquisition or construction of such fixed assets (as determined in good
       faith by the Board of Directors of the Company), (4) in the case of the
       creation or incurrence of any Capitalized Lease, the fixed asset which is
       the subject thereof if previously owned by the Company shall have been
       sold or otherwise disposed of within the limitations provided in Section
       5.12(b)(2), and (5) all such Debt shall have been incurred within the
       applicable limitations provided in Section 5.7(a)(3) and Section
       5.7(a)(4);

              (h)    Liens created or incurred after the Closing Date given to
       secure Debt of the Company or any Subsidiary in addition to Liens
       permitted by the preceding clauses (a) through (g), inclusive, hereof,
       provided that all Debt secured by Liens incurred pursuant to this Section
       5.8(h) shall have been incurred within the limitations of Section
       5.7(a)(3) and Section 5.7(a)(4); and

              (i)    any extension, renewal or replacement of any Lien permitted
       by the preceding clause (f) hereof in respect of the same Property
       theretofore subject to such Lien in connection with the extension,
       renewal or refunding of the Indebtedness secured thereby; provided that
       (1) such Lien shall attach solely to the same such Property, and (2) such
       extension, renewal or refunding of such Indebtedness shall be without
       increase in the principal remaining unpaid as of the date of such
       extension, renewal or refunding.

                                       11
<PAGE>

       Section 5.9 Limitation on Long-Term Leases. The Company will not, and
will not permit any Subsidiary to, become obligated, as lessee, under any
Long-Term Lease if, at the time of entering into such Long-Term Lease and after
giving effect thereto, the maximum aggregate Rentals payable by the Company and
all of its Subsidiaries on a consolidated basis in any fiscal year thereafter
under all Long-Term Leases then outstanding would exceed 1% of Consolidated Net
Worth for the immediately preceding fiscal year.

       Section 5.10 Restricted Payments. (a) The Company will not except as
hereinafter provided:

              (1)    Declare or pay any dividends, either in cash or Property,
       on any shares of its capital stock of any class (except dividends or
       other distributions resulting from stock splits or dividends payable
       solely in shares of common stock of the Company);

              (2)    Directly or indirectly, or through any Subsidiary,
       purchase, redeem or retire any shares of its capital stock of any class
       or any warrants, rights or options to purchase or acquire any shares of
       its capital stock;

              (3)    Make any other payment or distribution, either directly or
       indirectly or through any Subsidiary, in respect of its capital stock; or

              (4)    Make any payment of or in respect of the principal amount
       (including, without limitation, any prepayment premium) of any
       Subordinated Funded Debt of the Company or any Subsidiary, except a
       Payment at final maturity, payments of required sinking fund or required
       periodic prepayments, all as established by the original terms of such
       Subordinated Funded Debt;

(such declarations or payments of dividends, purchases, redemptions or
retirements of capital stock and warrants, rights or options and all such other
payments, prepayments, redemptions, purchases or distributions being herein
collectively called "Restricted Payments"), if after giving effect thereto the
sum of (i) the aggregate amount of Restricted Payments made during the period
from and after July 4, 1992 to and including the date of the making of the
Restricted Payment in question, plus (ii) the aggregate amount of all Restricted
Investments made by the Company or any Subsidiary during said period would
exceed the sum of (A) $150,000,000 plus (B) 50% of Consolidated Net Income for
each of the elapsed fiscal quarters computed on a cumulative basis for said
entire period (or if Consolidated Net Income for any such fiscal quarter is a
deficit figure, then minus 100% of such deficit) plus (C) the aggregate net cash
proceeds received by the Company from the issuance and sale of shares of capital
stock of the Company, whether original issuances or from treasury, during such
period.

              (b)    The Company will not declare any dividend which
constitutes a Restricted Payment payable more than 60 days after the date of
declaration thereof.

              (c)    For the purposes of this Section 5.10, the amount of any
Restricted Payment declared, paid or distributed in Property shall be deemed to
be the greater of the book value or fair market value (as determined in good
faith by the Board of Directors of the Company) of such Property at the time of
the making of the Restricted Payment in question.

                                       12
<PAGE>

       (d)    The Company will not authorize or make a Restricted Payment if
after giving effect to the proposed Restricted Payment: (1) a Default or Event
of Default would exist or (2) the Company could not incur at least $1.00 of
additional Funded Debt pursuant to Section 5.7(a)(3).

       Section 5.11 Investments. The Company will not, and will not permit any
Subsidiary to, make any Investments, other than:

              (a)    Investments by the Company and its Subsidiaries existing as
       of the Closing Date and described on Schedule II attached hereto;

              (b)    Investments by the Company and its Subsidiaries in and to
       Subsidiaries 80% or more (by number of votes) of the Voting Stock of
       which is beneficially owned, directly or indirectly, by the Company,
       including any Investment in a corporation which, after giving effect to
       such Investment, will become a Subsidiary 80% or more (by number of
       votes) of the Voting Stock of which is beneficially owned, directly or
       indirectly, by the Company;

              (c)    Investments in commercial paper maturing in 270 days or
       less from the date of issuance which, at the time of acquisition by the
       Company or any Subsidiary, is rated not lower than "A-1" by Standard &
       Poor's Corporation and not lower than "P-1" by Moody's Investors
       Service, Inc.;

              (d)    Investments in direct obligations of the United States of
       America or any agency or instrumentality of the United States of America,
       the payment or guarantee of which constitutes a full faith and credit
       obligation of the United States of America, in either case, maturing in
       twelve months or less from the date of acquisition thereof;

              (e)    Investments in certificates of deposit maturing within one
       year from the date of issuance thereof, issued by (1) a bank or trust
       company organized under the laws of the United States or any state
       thereof, having, at the time of acquisition thereof by the Company or a
       Subsidiary, capital, surplus and undivided profits aggregating at least
       $100,000,000 and whose long-term certificates of deposit are, at the time
       of acquisition thereof by the Company or a Subsidiary, rated AA or better
       by Standard & Poor's Corporation and Aa or better by Moody's Investors
       Service, Inc. or (2) any banking subsidiary of Wachovia Corporation,
       AmSouth Bancorporation, SunTrust Banks, Inc., SouthTrust Corporation,
       First Alabama Bancshares, Inc., Synovus Financial Corporation, and Aliant
       National Corporation or any Person who succeeds to all, or substantially
       all, of the assets and business of any thereof;

              (f)    Investments in variable rate demand bonds maturing or with
       optional puts within one year or less from the date of acquisition
       thereof, which, at the time of acquisition by the Company or any
       Subsidiary, are rated not lower than "A" or "A-1" by Standard & Poor's
       Corporation and not lower than "A2" or "P-1" by Moody's Investors
       Service, Inc.;

              (g)    loans or advances in the usual and ordinary course of
       business to officers, directors and employees for expenses (including
       moving expenses related to a transfer)

                                       13
<PAGE>

       incidental to carrying on the business of the Company or any Subsidiary;
       provided that the amount of all such loans or advances permitted pursuant
       to this Section 5.11(g) shall not at any one time exceed $3,000,000 in
       the aggregate; and

              (h)    other Investments (in addition to those permitted by the
       foregoing provisions of this Section 5.11), provided that (1) all such
       other Investments shall have been made out of funds available for
       Restricted Payments which the Company or any Subsidiary would then be
       permitted to make in accordance with the provisions of Section 5.10, (2)
       after giving effect to such other Investments, no Default or Event of
       Default would exist and (3) the Company would be permitted by the
       provisions of Section 5.7(a)(3) to incur at least $1.00 of additional
       Funded Debt.

       In valuing any Investments for the purpose of applying the limitations
set forth in this Section 5.11, such Investments shall be taken at the original
cost thereof, without allowance for any subsequent write-offs or appreciation or
depreciation therein, but less any amount repaid, recovered or received on
account of capital or principal.

       For purposes of this Section 5.11, at any time when a corporation becomes
a Subsidiary, all Investments of such corporation at such time shall be deemed
to have been made by such corporation, as a Subsidiary, at such time.

       Section 5.12 Mergers, Consolidations and Sales of Assets. (a) The Company
will not, and will not permit any Subsidiary to, consolidate with or be a
party to a merger with any other corporation, or sell, lease or otherwise
dispose of all or substantially all of its assets; provided that:

              (1) any Subsidiary may merge or consolidate with or into, or sell,
       lease or otherwise dispose of all or substantially all of its assets to,
       the Company or any other Subsidiary the percentage ownership by the
       Company of which shall be greater than or equal to the percentage
       ownership by the Company of the Subsidiary being merged or consolidated
       or all or substantially all of the assets of which are being sold, leased
       or otherwise disposed of, so long as (i) in any merger or consolidation
       involving the Company, the Company shall be the surviving or continuing
       corporation and (ii) in any sale, lease or other disposition, after
       giving effect to such sale, lease or other disposition, (A) no Default or
       Event of Default would exist and (B) the Company would be permitted by
       the provisions of Section 5.7(a)(3) to incur at least $1.00 of additional
       Funded Debt;

               (2) the Company may consolidate with or merge into any other
       corporation if (i) the Company is the surviving corporation or (ii)(A)
       the corporation which results from such consolidation or merger (the
       "surviving corporation") is organized under the laws of any State of the
       United States or the District of Columbia and (B) the due and punctual
       payment of the principal of and premium, if any, and interest on all of
       the Notes, according to their tenor, and the due and punctual performance
       and observation of all of the covenants in the Notes and this Agreement
       to be performed or observed by the Company are expressly assumed in
       writing by the surviving corporation and the surviving corporation shall
       furnish the holders of the Notes an opinion of counsel satisfactory to
       the holders of at least 66-2/3% in aggregate principal amount of the
       Notes

                                       14
<PAGE>

       then outstanding to the effect that the instrument of assumption has been
       duly authorized, executed and delivered and constitutes the legal, valid
       and binding contract and agreement of the surviving corporation
       enforceable in accordance with its terms and which opinion may contain
       exceptions and qualifications as are customary in similar transactions
       and (iii) at the time of such consolidation or merger and immediately
       after giving effect thereto, (A) no Default or Event of Default would
       exist and (B) the surviving corporation would be permitted by the
       provisions of Section 5.7(a)(3) to incur at least $1.00 of additional
       Funded Debt;

              (3) any corporation may merge into the Company if at the time of
       such merger and immediately after giving effect thereto, (i) no Default
       or Event of Default would exist and (ii) the Company would be permitted
       by the provisions of Section 5.7(a)(3) to incur at least $1.00 of
       additional Funded Debt; and

              (4) the Company may sell or otherwise dispose of all or
       substantially all of its assets (other than stock and Indebtedness of a
       Subsidiary, which may only be sold or otherwise disposed of pursuant to
       Section 5.12(c)) to any Person for consideration which represents the
       fair market value (as determined in good faith by the Board of Directors
       of the Company, a copy of which determination certified by the Secretary
       or an Assistant Secretary of the Company shall have been furnished to the
       holders of the Notes) at the time of such sale or other disposition if
       (i) the acquiring Person is a corporation organized under the laws of any
       State of the United States or District of Columbia, (ii) the due and
       punctual payment of the principal of and premium, if any, and interest on
       all the Notes, according to their tenor, and the due and punctual
       performance and observance of all of the covenants in the Notes and in
       this Agreement to be performed or observed by the Company are expressly
       assumed in writing by the acquiring corporation and the acquiring
       corporation shall furnish the holders of the Notes an opinion of counsel
       satisfactory to the holders of at least 66-2/3% in aggregate principal
       amount of the Notes then outstanding to the effect that the instrument of
       assumption has been duly authorized, executed and delivered and
       constitutes the legal, valid and binding contract and agreement of such
       acquiring corporation enforceable in accordance with its terms and which
       opinion may contain exceptions and qualifications as are customary in
       similar transactions, and (iii) at the time of such sale or disposition
       and immediately after giving effect thereto, (A) no Default or Event of
       Default would exist and (B) the acquiring corporation would be permitted
       by the provisions of Section 5.7(a)(3) to incur at least $1.00 of
       additional Funded Debt.

       (b)    The Company will not, and will not permit any Subsidiary to, sell,
lease, transfer, abandon or otherwise dispose of, assets (except assets sold,
leased, transferred, abandoned or otherwise disposed of in the ordinary course
of business and, except with respect to inventory sold in the ordinary course of
business, for fair market value or as provided in Section 5.12(a)(4)); provided
that the foregoing restrictions do not apply to:

              (1) the sale, lease, transfer or other disposition of assets of a
       Subsidiary to the Company or a Wholly-owned Subsidiary; or

                                       15

<PAGE>
                            (2)     the sale, lease, transfer or other
                  disposition of such assets for cash or other Property to a
                  Person or Persons other than an Affiliate (which Affiliate
                  is not a Subsidiary) if all of the following conditions are
                  met:

                                    (i)      such assets (valued at the
                           greater of fair market value or net book value) do
                           not, together with all other assets of the Company
                           and its Subsidiaries previously disposed of during
                           the same fiscal year, exceed 10% of Consolidated
                           Total Assets;

                                    (ii)     the determination to sell, lease,
                           transfer or otherwise dispose of such assets was
                           made in accordance with policies approved by the
                           Board of Directors of the Company or such
                           Subsidiary; and

                                    (iii)    immediately after the
                           consummation of the transaction and after giving
                           effect thereto, (A) no Default or Event of Default
                           would exist, and (B) the Company would be permitted
                           by the provisions of Section 5.7(a)(3) to incur at
                           least $1.00 of additional Funded Debt.

                  Computations pursuant to this Section 5.12(b) shall include
         dispositions made pursuant to Section 5.12(c) and computations
         pursuant to Section 5.12(c) shall include dispositions made pursuant
         to this Section 5.12(b).

                  (c)      The Company will not, and will not permit any
         Subsidiary to, sell, pledge or otherwise dispose of any shares of the
         stock (including as "stock" for the purposes of this Section any
         options or warrants to purchase stock or other Securities
         exchangeable for or convertible into stock) of a Subsidiary (said
         stock, options, warrants and other Securities herein called
         "Subsidiary Stock") or sell, pledge or otherwise dispose of any
         Indebtedness of any Subsidiary, nor will any Subsidiary issue, sell,
         pledge or otherwise dispose of any shares of its own Subsidiary
         Stock, provided that the foregoing restrictions do not apply to:

                           (1)      the issue of directors qualifying shares;
                  or

                           (2)      the issue of Subsidiary Stock to the
                  Company or a Wholly-owned Subsidiary; and

                           (3)      the sale or other disposition to a Person
                  (other than directly or indirectly to an Affiliate) of any
                  shares of Subsidiary Stock or Indebtedness of any Subsidiary
                  if all of the following conditions are met:

                                    (i)      such assets (valued at the
                           greater of fair market value or net book value) of
                           the Subsidiary do not, together with all other
                           assets of the Company and its Subsidiaries
                           previously disposed of during the same fiscal year
                           (other than in the ordinary course of business),
                           exceed 10% of Consolidated Total Assets;

                                    (ii)     the determination to sell or
                           otherwise dispose of such assets was made in
                           accordance with policies approved by the Board of
                           Directors of the Company or such Subsidiaries;

                                      16

<PAGE>

                                    (iii)    in the case of a sale of any
                           Subsidiary Stock of a Wholly-owned Subsidiary to a
                           Person other than the Company or another
                           Wholly-owned Subsidiary, immediately after the
                           consummation of the transaction and after giving
                           effect thereto, all Debt of any other Subsidiary
                           (of which such previously Wholly-owned Subsidiary
                           is the parent corporation) then held by such
                           previously Wholly-owned Subsidiary shall be deemed
                           to be Debt to be created or incurred by the Company
                           arid its other Subsidiaries within the limitations
                           of Section 5.7(a)(3);

                                    (iv)     in the case of a sale of any
                           Indebtedness of any Subsidiary, immediately after
                           the consummation of the transaction and after
                           giving effect thereto, all Debt of such Subsidiary
                           then held by Persons other than the Company or any
                           Wholly-owned Subsidiary which is the parent
                           corporation of such Subsidiary shall be deemed to
                           be Debt to be created or incurred by such
                           Subsidiary within the limitations of Section
                           5.7(a)(3);

                                    (v)      in the case of a sale of
                           Indebtedness or other Investments in a Subsidiary,
                           immediately after the consummation of the
                           transaction and after giving effect thereto, all
                           Indebtedness and other Investments in such
                           Subsidiary held by the Company and its other
                           Subsidiaries shall be deemed to be Investments to
                           be made or created within the limitations of
                           Section 5.11; and

                                    (vi)     immediately after the
                           consummation of the transaction and after giving
                           effect thereto, (A) no Default or Event of Default
                           would exist, and (B) the Company would be permitted
                           by the provisions of Section 5.7(a)(3) to incur at
                           least $1.00 of additional Funded Debt.

                  Computations pursuant to this Section 5.12(c) shall include
         dispositions made pursuant to Section 5.12(b) and computations
         pursuant to Section 5.12(b) shall include dispositions made pursuant
         to this Section 5.12(c).

                  Section 5.13 Guaranties. The Company will not, and will not
         permit any Subsidiary to, become or be liable in respect of any
         Guaranty except Guaranties by the Company or any Subsidiary incurred
         in compliance with the provisions Section 5.7(a)(3) and Section
         5.7(a)(4) which are limited in amount to a stated maximum dollar
         exposure or Guaranties by the Company which constitute Guaranties of
         obligations incurred by any Subsidiary in compliance with the
         provisions of Section 5.7(a)(3).

                  Section 5.14 Repurchase of Notes. Neither the Company nor
         any Subsidiary or Affiliate, directly or indirectly, may repurchase
         or make any offer to repurchase any Notes unless an offer has been
         made to repurchase Notes, pro rata, from all holders of the Notes at
         the same time and upon the same terms. In case the Company or any
         Subsidiary or Affiliate repurchases or otherwise acquires any Notes,
         such Notes shall immediately thereafter be cancelled and no Notes,
         shall be issued in substitution therefor. Without limiting the
         foregoing, upon the purchase or other acquisition of any Notes by the
         Company, any Subsidiary or any Affiliate, such Notes shall no longer
         be outstanding for purposes of any section of this Agreement
         relating to the taking by the holders of the Notes of any actions
         with respect hereto, including, without limitation, Section 6.3,
         Section 6.4 and Section 7.1.

                                      17

<PAGE>

                  Section 5.15 Transactions with Affiliates. The Company will
         not, and will not permit any Subsidiary to, enter into or be a party to
         any transaction or arrangement with any Affiliate (including, without
         limitation, the purchase from, sale to or exchange of Property with,
         or the rendering of any service by or for, any Affiliate) which
         transaction or arrangement is material to the Company or such
         Subsidiary, except in the ordinary course of and pursuant to the
         reasonable requirements of the Company's or such Subsidiary's
         business and upon fair and reasonable terms no less favorable to the
         Company or such Subsidiary than would obtain in a comparable
         arm's-length transaction with a Person other than an Affiliate.

                  Section 5.16 Multiemployer Plan Liability and Termination of
         Pension Plans. The Company will not and will not permit any ERISA
         Affiliate to withdraw from any Multiemployer Plan if such withdrawal
         could result in withdrawal liability (as described in Part 1 of
         Subtitle E of Title W of ERISA) which could materially and adversely
         affect the properties, business, prospects, profits or condition
         (financial or otherwise) of the Company. The Company and any ERISA
         Affiliate will not permit any employee benefit plan maintained by it
         to be terminated if such termination could result in the imposition
         of a Lien on any property of the Company or any ERISA Affiliate
         pursuant to Section 4068 of ERISA.

                  Section 5.17 Reports and Rights of Inspection. The Company
         will keep, and will cause each Subsidiary to keep, proper books of
         record and account in which full and correct entries will be made of
         all dealings or transactions of, or in relation to, the business and
         affairs of the Company or such Subsidiary, in accordance with GAAP
         consistently applied (except for changes disclosed in the financial
         statements furnished to you pursuant to this Section 5.17 and
         concurred in by the independent public accountants referred to in
         Section 5.17(b) hereof), and will furnish to you so long as you are
         the holder of any Note and to each other Institutional Holder of the
         then outstanding Notes (in duplicate if so specified below or
         otherwise requested):

                           (a)      Quarterly Statements.  As soon as
                  available  and in any event within 45 days after the end of
                  each  quarterly fiscal period (except the last) of each
                  fiscal year, copies of:

                                    (1)      a consolidated balance sheet of
                           the Company and its Subsidiaries as of the close of
                           such quarterly fiscal period, setting forth in
                           comparative form the consolidated figures for the
                           corresponding period of the preceding fiscal year.

                                    (2)      a consolidated statement of
                           income of the Company and its Subsidiaries for such
                           quarterly fiscal period and for the portion of the
                           fiscal year ending with such quarterly fiscal
                           period, in each case setting forth in comparative
                           form the consolidated figures for the corresponding
                           periods of the preceding fiscal year,

                                    (3)      a consolidated statement of cash
                           flows of the Company and its Subsidiaries for the
                           portion of the fiscal year ending with such
                           quarterly fiscal period, setting forth in
                           comparative form the consolidated figures for the
                           corresponding period of the preceding fiscal year,
                           and

                                      18

<PAGE>

                                    (4)      a consolidated statement of
                  stockholders' equity of the Company and its Subsidiaries for
                  the portion of the fiscal year ending with such quarterly
                  fiscal period, setting forth in comparative form the
                  consolidated figures for the corresponding period of the
                  preceding fiscal year,

         all in reasonable detail and certified as complete and correct by an
         authorized financial officer of the Company;

                           (b)      Annual Statements. As soon as available
         and in any event within 90 days after the close of each fiscal year
         of the Company, copies of:

                                    (1)      a consolidated balance sheet of
                  the Company and its Subsidiaries as of the close of such
                  fiscal year,

                                    (2)      a consolidated statement of
                  income of the Company and its Subsidiaries for such fiscal
                  year,

                                    (3)      a consolidated statement of cash
                  flows of the Company and its Subsidiaries for such fiscal
                  year, and

                                    (4)      a consolidated statement of
                  stockholders' equity of the Company and its Subsidiaries for
                  such fiscal year,

         in each case setting forth in comparative form the consolidated
         figures for the preceding fiscal year, all in reasonable detail and
         accompanied by a report thereon of a firm of independent public
         accountants of recognized national standing selected by the Company,
         containing an opinion unqualified as to scope limitations imposed by
         the Company, unqualified as to the Company being a going concern and
         otherwise without qualification except as therein noted, to the
         effect that the consolidated financial statements present fairly, in
         all material respects, the consolidated financial position of the
         Company and its Subsidiaries as of the end of the fiscal year being
         reported on and the consolidated results of the operations and cash
         flows for said year in conformity with GAAP and that the examination
         of such accountants in connection with such financial statements has
         been conducted in accordance with generally accepted auditing
         standards and included such tests of the accounting records and such
         other auditing procedures as said accountants deemed necessary in the
         circumstances;

                           (c)      Audit Reports. Promptly upon receipt
         thereof, one copy of each interim or special audit made by
         independent accountants of the books of the Company or any Subsidiary
         and any management letter received from such accountants in
         connection with such interim or special audits;

                           (d)      SEC and Other Reports. Promptly upon their
         becoming available, one copy of each financial statement, report,
         notice or proxy statement sent by the Company to stockholders
         generally and of each regular or periodic report, and any
         registration statement or prospectus filed by the Company or any
         Subsidiary with any securities

                                      19

<PAGE>

         exchange or the Securities and Exchange Commission or any successor
         agency (other than Registration Statements on Form S-8 relating to
         employee benefit plans);

                           (e)      ERISA Reports. Promptly upon the
         occurrence thereof, written notice of (1) a Reportable Event with
         respect to any Plan; (2) the institution of any steps by the Company,
         any ERISA Affiliate, the PBGC or any other Person to terminate any
         Plan; (3) the institution of any steps by the Company or any ERISA
         Affiliate to withdraw from any Plan; (4) a non-exempt "prohibited
         transaction" within the meaning of Section 406 of ERISA in connection
         with any Plan; (5) any material increase in the contingent liability
         of the Company or any Subsidiary with respect to any post-retirement
         welfare liability; or (6) the taking of any action by, or the
         threatening of the taking of any action by, the Internal Revenue
         Service, the Department of Labor or the PBGC with respect to any of
         the foregoing;

                           (f)      Officer's Certificates. Within the
         periods provided in paragraphs (a) and (b) above, a certificate of
         the chief financial officer of the Company stating that such officer
         has reviewed the provisions of this Agreement and setting forth: (1)
         the information and computations (in sufficient detail) required in
         order to establish whether the Company was in compliance with the
         requirements of Section 5.6 through Section 5.13 at the end of the
         period covered by the financial statements then being furnished, and
         (2) whether there existed as of the date of such financial statements
         and whether, to the best of such officer's knowledge, there exists on
         the date of the certificate or existed at any time during the period
         covered by such financial statements any Default or Event of Default
         and, if any such condition or event exists on the date of the
         certificate, specifying the nature and period of existence thereof
         and the action the Company is taking and proposes to take with
         respect thereto;

                           (g)      Accountant's Certificates. Within the period
         provided in paragraph (b) above, a certificate of the accountants who
         render an opinion with respect to such financial statements, stating
         that they have reviewed this Agreement, stating that they have
         reviewed the computations made by the Company in connection with the
         requirements of Section 5.17(f) and whether or not they concur with
         the results of such computations, and stating further whether, in
         making their audit, such accountants have become aware of any Default
         or Event of Default under any of the terms or provisions of this
         Agreement insofar as any such terms or provisions pertain to or
         involve accounting matters or determinations, and if any such
         condition or event then exists, specifying the nature and period of
         existence thereof; and

                           (h)      Material Litigation. Promptly after the
         Company shall have knowledge thereof, written notice of any
         proceedings pending against the Company or any Subsidiary in any
         court or before any governmental authority or arbitration board or
         tribunal which involve the possibility of materially affecting
         adversely the properties, business, prospects, profits or condition
         (financial or otherwise) of the Company and its Subsidiaries,

                           (i)      Requested Information.  With reasonable
         promptness, such other financial data and information or other
         information necessary to demonstrate compliance with the

                                      20
<PAGE>

       terms and provisions of this Agreement as you or any such Institutional
       Holder may reasonably request.

Without limiting the foregoing, the Company will permit you, so long as you are
the holder of any Note, and each Institutional Holder of the then outstanding
Notes (or such Persons as either you or such Institutional Holder may
designate), to visit and inspect, under the Company's guidance, any of the
properties of the Company or any Subsidiary, to examine all of their books of
account, records, reports and other papers, to make copies and extracts
therefrom and to discuss their respective affairs, finances and accounts with
their respective officers, employees, and independent public accountants (and by
this provision the Company authorizes said accountants to discuss with you the
finances and affairs of the Company and its Subsidiaries) all at such reasonable
times and as often as may be reasonably requested. Any visitation shall be at
the sole expense of you or such Institutional Holder unless a Default or Event
of Default shall have occurred and be continuing, or if the holder of any Note
or of any other evidence of Indebtedness of the Company or any Subsidiary gives
any written notice or takes any other action with respect to a claimed default,
in which case, any such visitation or inspection shall be at the sole expense of
the Company.

SECTION 6.    EVENTS OF DEFAULT AND REMEDIES THEREFOR.

       Section 6.1 Events of Default. Any one or more of the following shall
constitute an "Event of Default" as such term is used herein:

              (a)    Default shall occur in the payment of interest on any Note
       when the same shall have become due and such default shall continue for
       more than five days; or

              (b)    Default shall occur in the making of any required
       prepayment on any of the Notes as provided in Section 2.1; or

              (c)    Default shall occur in the making of any other payment of
       the principal of any Note or premium, if any, thereon at the expressed or
       any accelerated maturity date or at any date fixed for prepayment; or

              (d)    Default shall occur in the observance or performance of any
       covenant or agreement contained in Section 5.7 through Section 5.13; or

              (e)    Default shall occur in the observance or performance of any
       covenant or agreement contained in Section 5.6 and such default shall
       continue for more than ten days; or

              (f)    Default shall occur in the observance or performance of any
       other provision of this Agreement which is not remedied within 30 days
       after the earlier of (1) the day on which a Responsible Officer of the
       Company first obtains knowledge of such default, or (2) the day on which
       written notice thereof is given to the Company by the holder of any Note;
       or

                                       21
<PAGE>

              (g)    Default shall be made in the payment when due (whether by
       lapse of time, by declaration, by call for redemption or otherwise) of
       the principal of or interest on any Indebtedness for borrowed money
       (other than the Notes) of the Company or any Subsidiary aggregating
       $10,000,000 or more or of any amount due pursuant to any Interest Rate
       Protection Agreement the termination amount of which is equal to
       $3,000,000 or more and such default shall continue beyond the period of
       grace, if any, allowed with respect thereto; or

              (h)    Default or the happening of any event shall occur under any
       indenture, agreement or other instrument under which any Indebtedness for
       borrowed money (other than the Notes) of the Company or any Subsidiary
       aggregating $10,000,000 or more may be issued or under any Interest Rate
       Protection Agreement the termination amount of which is equal to
       $3,000,000 or more and such default or event shall continue for a period
       of time sufficient to permit the acceleration of the maturity of any
       Indebtedness for borrowed money of the Company or any Subsidiary
       outstanding thereunder; or

              (i)    Any representation or warranty made by the Company herein,
       or made by the Company in any statement or certificate furnished by the
       Company in connection with the consummation of the issuance and delivery
       of the Notes or furnished by the Company pursuant hereto, is untrue in
       any material respect as of the date of the issuance or making thereof; or

              (j)    Final judgment or judgments for the payment of money
       aggregating in excess of $10,000,000 is or are outstanding against the
       Company or any Subsidiary or against any Property or assets of either and
       any one of such judgments has remained unpaid, unvacated, unbonded or
       unstayed for a period of 10 days from the expiration of all appeals; or

              (k)    A custodian, liquidator, trustee or receiver is appointed
       for the Company or any Subsidiary or for the major part of the Property
       of either and is not discharged within 60 days after such appointment; or

              (l)    The Company or any Subsidiary becomes insolvent or
       bankrupt, is generally not paying its debts as they become due or makes
       an assignment for the benefit of creditors, or the Company or any
       Subsidiary applies for or consents to the appointment of a custodian,
       liquidator, trustee or receiver for the Company or such Subsidiary or for
       the major part of the Property of either; or

              (m)    Bankruptcy, reorganization, arrangement or insolvency
       proceedings, or other proceedings for relief under any bankruptcy or
       similar law or laws for the relief of debtors, are instituted by or
       against the Company or any Subsidiary and, if instituted against the
       Company or any Subsidiary, are consented to or are not dismissed within
       60 days after such institution.

       Section 6.2 Notice to Holders. When any Event of Default described in the
foregoing Section 6.1 has occurred, or if the holder of any Note or of any other
evidence of indebtedness for borrowed money of the Company gives any notice or
takes any other action with respect to a

                                       22
<PAGE>

claimed default, the Company agrees to give notice within three Business
Days of such event to all holders of the Notes then outstanding.

       Section 6.3 Acceleration of Maturities. When any Event of Default
described in paragraph (a), (b) or (c) of Section 6.1 has happened and is
continuing, any holder of any Note may, by notice in writing sent in the manner
provided in Section 9.6 hereof to the Company, declare the entire principal and
all interest accrued on such Note to be, and such Note shall thereupon become
forthwith due and payable, without any presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived. When any Event of
Default described in paragraphs (a) through (j), inclusive, of said Section 6.1
has happened and is continuing, the holder or holders of more than 50% of the
principal amount of Notes at the time outstanding may, by notice in writing in
the manner provided in Section 9.6 to the Company, declare the entire principal
and all interest accrued on all Notes to be, and all Notes shall thereupon
become, forthwith due and payable, without any presentment, demand, protest or
other notice of any kind, all of which are hereby expressly waived. When any
Event of Default described in paragraph (k), (1) or (m) of Section 6.1 has
occurred, then all outstanding Notes shall immediately become due and payable
without presentment, demand or notice of any kind. Upon the Notes becoming due
and payable as a result of any Event of Default as aforesaid, the Company will
forthwith pay to the holders of the Notes the entire principal and interest
accrued on the Notes and, to the extent not prohibited by applicable law, an
amount as liquidated damages for the loss of the bargain evidenced hereby (and
not as a penalty) equal to the Make-Whole Amount, determined as of the date on
which the Notes shall so become due and payable. No course of dealing on the
part of the holder or holders of any Notes nor any delay or failure on the part
of any holder of Notes to exercise any right shall operate as a waiver of such
right or otherwise prejudice such holder's rights, powers and remedies. The
Company further agrees, to the extent permitted by law, to pay to the holder or
holders of the Notes all costs and expenses incurred by them in the collection
of any Notes upon any Default hereunder or thereon, including reasonable
compensation to such holder's or holders' attorneys for all services rendered in
connection therewith.

       Section 6.4 Rescission of Acceleration. The provisions of Section 6.3 are
subject to the condition that if the principal of and accrued interest on all or
any outstanding Notes have been declared immediately due and payable by reason
of the occurrence of any Event of Default described in paragraphs (a) through
(l), inclusive, of Section 6.1, the holders of 66-2/3% in aggregate principal
amount of the Notes then outstanding may, by written instrument filed with the
Company, rescind and annul such declaration and the consequences thereof,
provided that at the time such declaration is annulled and rescinded:

              (a)  no judgment or decree has been entered for the payment of
       any monies due pursuant to the Notes or this Agreement;

              (b)  all arrears of interest upon all the Notes and all other
       sums payable under the Notes and under this Agreement (except any
       principal, interest or Make-Whole Amount on the Notes which has become
       due and payable solely by reason of such declaration under Section 6.3)
       shall have been duly paid; and

                                       23
<PAGE>

              (c)  each and every Default and Event of Default shall have been
       made good, cured or waived pursuant to Section 7.1;

and provided further, that no such rescission and annulment shall extend to or
affect any subsequent Default or Event of Default or impair any right consequent
thereto.

Section 7.1.  AMENDMENTS, WAIVERS AND CONSENTS.

       Section 7.1 Consent Required. Any term, covenant, agreement or condition
of this Agreement may, with the consent of the Company, be amended or compliance
therewith may be waived (either generally or in a particular instance and either
retroactively or prospectively), if the Company shall have obtained the consent
in writing of the holders of at least 66-2/3% in aggregate principal amount of
the Notes then outstanding; provided that without the written consent of the
holders of all of the Notes then outstanding, no such amendment or waiver shall
be effective (a) which will change the time of payment (including any prepayment
required by Section 2.1) of the principal of or the interest on any Note or
change the principal amount thereof or change the rate of interest thereon, or
(b) which will change the time of payment or method of calculation of the
premium, if any, on any Note, or (c) which will change any of the provisions
with respect to optional prepayments, or (d) which will change the percentage of
holders of the Notes required to consent to any such amendment or waiver of any
of the provisions of this Section 7 or Section 6 or (e) which will change any of
the provisions of Section 5.14 or Section 7.2.

       Section 7.2 Solicitation of Holders. So long as there are any Notes
outstanding, the Company will not solicit, request or negotiate for or with
respect to any proposed waiver or amendment of any of the provisions of this
Agreement or the Notes unless each holder of Notes (irrespective of the amount
of Notes then owned by it) shall be informed thereof by the Company and shall be
afforded the opportunity of considering the same and shall be supplied by the
Company with such information as the Company reasonably believes would be
necessary to enable each holder to make an informed decision with respect
thereto. The Company will not, directly or indirectly, pay or cause to be paid
any remuneration, whether by way of supplemental or additional interest, fee or
otherwise, to any holder of Notes as consideration for or as an inducement to
entering into by any holder of Notes of any waiver or amendment of any of the
terms and provisions of this Agreement or the Notes unless such remuneration is
concurrently offered, on the same terms, ratably to the holders of all Notes
then outstanding. Promptly and in any event within 30 days of the date of
execution and delivery of any such waiver or amendment, the Company shall
provide a true, correct and complete copy thereof to each of the holders of the
Notes.

       Section 7.3 Effect of Amendment or Waiver.  Any such amendment or waiver
shall apply equally to all of the holders of the Notes and shall be binding upon
them, upon each future holder of any Note and upon the Company, whether or not
such Note shall have been marked to indicate such amendment or waiver. No such
amendment or waiver shall extend to or affect any obligation not expressly
amended or waived or impair any right consequent thereon.

                                       24
<PAGE>

Section 8. INTERPRETATION OF AGREEMENT; DEFINITIONS.

       Section 8.1 Definitions. Unless the context otherwise requires, the terms
hereinafter set forth when used herein shall have the following meanings and the
following definitions shall be equally applicable to both the singular and
plural forms of any of the terms herein defined:

       "Acquiring Person" shall have the meaning set forth in Section 2.3(d).

       "Affiliate" shall mean (a) the executive officers and directors of the
Company and (b) any Person (other than a Wholly-owned Subsidiary) (1) which
directly or indirectly through one or more intermediaries controls, or is
controlled by, or is under common contro1 with, the Company, (2) which
beneficially owns or holds 5% or more of any class of the Voting Stock of the
Company or (3) 5% or more of the Voting Stock (or in the case of a Person which
is not a corporation, 5% or more of the equity interest) of which is
beneficially owned or held by the Company or a Subsidiary. The term "control"
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through the
ownership of Voting Stock, by contract or otherwise.

       "Attributable Debt" shall mean the face amount of accounts or notes
receivable sold, pledged or otherwise transferred by the Company or any
Subsidiary in respect of any Receivables Financing.

       "Board of Directors" of any Person shall mean the board of directors of
such Person and any executive committee of such board to the extent, but only to
the extent, such executive committee shall be authorized by the board of
directors of such Person to take any action in lieu of such board.

       "Business Day" shall mean any day other than a Saturday, Sunday or other
day on which banks in Birmingham, Alabama or New York, New York are required by
law to close.

       "Called Principal" shall mean, with respect to any Note, the principal of
such Note that is to be prepaid pursuant to paragraph 2.2 or 2.3 or is declared
to be immediately due and payable pursuant to paragraph 6.3, as the context
requires.

       "Capitalized Lease" shall mean any lease the obligation for Rentals with
respect to which is required to be capitalized on a consolidated balance sheet
of the lessee and its subsidiaries in accordance with GAAP or, if not so
capitalized, for which the amounts of the asset and liability (had such lease
been capitalized) would at such time be so required to be disclosed in a note to
such a balance sheet.

      "Capitalized Rentals" of any Person shall mean as of the date of any
determination thereof the amount at which the aggregate Rentals due and to
become due under all Capitalized Leases under which such Person is a lessee
would be reflected as a liability on a consolidated balance sheet or disclosed
in a note to such consolidated balance sheet of such Person.

       "Change of Control" shall have the meaning set forth in Section 2.3(d).

                                       25

<PAGE>

        "Closing Date" shall have the meaning set forth in Section 1.2.

        "Code" shall mean the Internal Revenue Code of 1986, as amended, and
the regulations from time to time promulgated thereunder.

        "Company" shall mean Russell Corporation, an Alabama corporation, and
any Person who succeeds to all, or substantially all, of the assets and business
of Russell Corporation.

        "Competitor" shall mean the Sara Lee Corporation, or any subsidiary or
affiliate thereof, or a corporation or entity primarily engaged in the textile
or apparel manufacturing business or which is a member of an affiliated group
that derives more than 20% of its total revenues from the textile or apparel
manufacturing business or any Plan of any thereof.

        "Consolidated Funded Debt" shall mean as of the date of any
determination thereof all Funded Debt of the Company and its Subsidiaries,
determined on a consolidated basis after eliminating intercompany items.

        "Consolidated Interest Charges" shall mean all Interest Charges on all
Indebtedness of the Company and its Subsidiaries, determined on a consolidated
basis after eliminating intercompany items.

        "Consolidated Net Income" for any period shall mean the gross revenues
of the Company and its Subsidiaries for such period less all expenses and other
proper charges (including taxes on income), determined on a consolidated basis
after eliminating earnings or losses attributable to outstanding Minority
Interests, but excluding in any event:

                (a) net earnings and losses of any Subsidiary accrued prior to
        the date it became a Subsidiary;

                (b) net earnings and losses of any corporation (other than a
        Subsidiary), substantially all the assets of which have been acquired in
        any manner by the Company or any Subsidiary, realized by such
        corporation prior to the date of such acquisition;

                (c) net earnings and losses of any corporation (other than a
        Subsidiary) with which the Company or a Subsidiary shall have
        consolidated or which shall have merged into or with the Company or a
        Subsidiary prior to the date of such consolidation or merger;

                (d) net earnings of any business entity (other than a
        Subsidiary) in which the Company or any Subsidiary has an ownership
        interest unless such net earnings shall have actually been received by
        the Company or such Subsidiary in the form of cash distributions;

                (e) any portion of the net earnings of any Subsidiary which for
        any reason is unavailable for payment of dividends to the Company or any
        other Subsidiary; and

                (f) any other extraordinary gain (net of the related tax
        expense).

                                       26

<PAGE>

        "Consolidated Net Worth" shall mean as of the date of any determination
thereof the amount of the capital stock accounts (net of treasury stock at cost
and Redeemable Preferred Stock) plus (or minus in the case of a deficit) the
surplus and retained earnings of the Company and its Subsidiaries, consolidated
in accordance with GAAP and after deducting any Minority Interests in such
Subsidiaries.

        "Consolidated Total Assets" shall mean as of the date of any
determination thereof the total amount of all assets of the Company and its
Subsidiaries consolidated in accordance with GAAP and after deducting any
Minority Interests in such Subsidiaries.

        "Consolidated Total Capitalization" shall mean as of the date of any
determination thereof the sum of (a) Consolidated Funded Debt and (b)
Consolidated Net Worth.

        "Current Debt" of any Person shall mean as of the date of any
determination thereof (a) all Indebtedness of such Person for borrowed money
other than Funded Debt of such Person and (b) Guaranties by such Person of
Current Debt of others.

        "Debt" of any Person shall mean as of the date of any determination
thereof the sum of all (a) Current Debt and (b) Funded Debt of such Person.

        "Default" shall mean any event or condition the occurrence of which
would, with the lapse of time or the giving of notice, or both, constitute an
Event of Default.

        "Discounted Value" shall mean, with respect to the Called Principal of
any Note, the amount obtained by discounting all Remaining Scheduled Payments
with respect to such Called Principal from their respective scheduled due dates
to the Settlement Date with respect to such Called Principal, in accordance with
accepted financial practice and at a discount factor (as converted to reflect
the periodic basis on which interest on such Note is payable, if payable other
than on a semi-annual basis) equal to the Reinvestment Yield with respect to
such Called Principal.

        "Environmental Law" shall mean any international, Federal, state or
local statute, law, regulation, order, consent decree, judgment, permit,
license, code, covenant, deed restriction, common law, treaty, convention,
ordinance or other requirement relating to public health, safety or the
environment, including, without limitation, those relating to releases,
discharges or emissions to air, water, land or groundwater, to the withdrawal or
use of groundwater, to the use and handling of polychlorinated biphenyls or
asbestos, to the disposal, treatment, storage or management of hazardous or
solid waste, or Hazardous Substances or crude oil, or any fraction thereof, or
to exposure to toxic or hazardous materials, to the handling, transportation,
discharge or release of gaseous or liquid Hazardous Substances and any
regulation, order, notice or demand issued pursuant to such law, statute or
ordinance, in each case applicable to the Property of the Company and its
Subsidiaries or the operation, construction or modification of any thereof,
including without limitation the following: the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended by the Superfund
Amendments and Reauthorization Act of 1986, the Solid Waste Disposal Act, as
amended by the Resource Conservation and Recovery Act of 1976 and the Hazardous
and Solid Waste Amendments of 1984, the Hazardous Materials Transportation Act,
as amended, the Federal Water Pollution

                                       27

<PAGE>

Control Act, as amended by the Clean Water Act of 1976, the Safe Drinking Water
Control Act, the Clean Air Act of 1966, as amended, the Toxic Substances Control
Act of 1976, the Occupational Safety and Health Act of 1977, as amended, the
Emergency Planning and Community Right-to-Know Act of 1986, the National
Environmental Policy Act of 1975, the Oil Pollution Act of 1990 and any similar
or implementing state law, and any state statute and any further amendments to
these laws providing for financial responsibility for cleanup or other actions
with respect to the release or threatened release of Hazardous Substances or
crude oil, or any fraction thereof and all rules, regulations, guidance
documents and publications promulgated thereunder.

        "ERISA" shall mean the Employee Retirement Income Security Act of 1974,
as amended, and any successor statute of similar import, together with the
regulations thereunder, in each case as in effect from time to time. References
to sections of ERISA shall be construed to also refer to any successor sections.

        "ERISA Affiliate" shall mean any corporation, trade or business that is,
along with the Company, a member of a controlled group of corporations or a
controlled group of trades or businesses, as described in section 414(b) and
414(c), respectively, of the Code or Section 4001 of ERISA.

        "Event of Default" shall have the meaning set forth in Section 6.1.

        "Funded Debt" of any Person shall mean, without duplication, (a) all
Indebtedness of such Person for borrowed money or which has been incurred in
connection with the acquisition of assets in each case having a final maturity
of one or more than one year from the date of origin thereof (or which is
renewable or extendible at the option of the obligor for a period or periods
more than one year from the date of origin), including all payments in respect
thereof that are required to be made within one year from the date of any
determination of Funded Debt, whether or not the obligation to make such
payments shall constitute a current liability of the obligor under GAAP, (b) all
Capitalized Rentals of such Person, (c) all Guaranties by such Person of Funded
Debt of others and (d) all Redeemable Preferred Stock of such Person.

        "Funding Subsidiary" shall have the meaning set forth in Section 9.7.

        "GAAP" shall mean United States generally accepted accounting principles
as in effect at the time.

        "Guaranties" by any Person shall mean all obligations (other than
endorsements in the ordinary course of business of negotiable instruments for
deposit or collection) of such Person guaranteeing, or in effect guaranteeing,
any Indebtedness, dividend or other obligation of any other Person (the "primary
obligor") in any manner, whether directly or indirectly, including, without
limitation, all obligations incurred through an agreement, contingent or
otherwise, by such Person: (a) to purchase such Indebtedness or obligation or
any Property or assets constituting security therefor, (b) to advance or supply
funds (1) for the purchase or payment of such Indebtedness or obligation, (2) to
maintain working capital or other balance sheet condition or otherwise to
advance or make available funds for the purchase or payment of such Indebtedness
or obligation, (c) to lease Property or to purchase Securities or other Property
or

                                       28

<PAGE>

services primarily for the purpose of assuring the owner of such Indebtedness or
obligation of the ability of the primary obligor to make payment of the
Indebtedness or obligation, or (d) otherwise to assure the owner of the
Indebtedness or obligation of the primary obligor against loss in respect
thereof. For the purposes of all computations made under this Agreement, a
Guaranty in respect of any Indebtedness for borrowed money shall be deemed to be
Indebtedness equal to the principal amount of such Indebtedness for borrowed
money which has been guaranteed, and in Guaranty in respect of any other
obligation or liability or any dividend shall be deemed to be Indebtedness equal
to the maximum aggregate amount of such obligation, liability or dividend.

        "Hazardous Substance" shall mean any hazardous or toxic material,
substance or waste, pollutant or contaminant which is regulated under any
statute, law, ordinance, rule or regulation of any local, state, regional or
Federal authority having jurisdiction over the Property of the Company and its
Subsidiaries or its use, including but not limited to any material, substance or
waste which is: (a) defined as a hazardous substance under Section 311 of the
Federal Water Pollution Control Act (33 U.S.C. Section 1317) as amended; (b)
regulated as a hazardous waste under Section 1004 or Section 3001 of the Federal
Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery
Act (42 U.S.C. Section 6901 et seq.), as amended; (c) defined as a hazardous
substance under Section 101 of the Comprehensive Environmental Response,
Compensation and Liability Act (42 U.S.C. Section 9601 et seq.), as amended, or
(d) defined or regulated as a hazardous substance or hazardous waste under any
rules or regulations promulgated under any of the foregoing statutes.

        "Indebtedness" of any Person shall mean and include all obligations of
such Person which in accordance with GAAP shall be classified upon a balance
sheet of such Person as liabilities of such Person, and in any event shall
include, without limitation, all (a) obligations of such Person for borrowed
money or which has been incurred in connection with the acquisition of Property
or assets, (b) obligations secured by any Lien upon Property or assets owned by
such Person, even though such Person has not assumed or become liable for the
payment of such obligations, (c) obligations created or arising under any
conditional sale or other title retention agreement with respect to Property
acquired by such Person, notwithstanding the fact that the rights and remedies
of the seller, lender or lessor under such agreement in the event of default are
limited to repossession or sale of such Property, (d) Capitalized Rentals, (e)
Guaranties of obligations of others of the character referred to in this
definition and (f) Redeemable Preferred Stock.

        "Institutional Holder" shall mean any of the following Persons: (a) any
bank, savings and loan association, savings institution, trust company or
national banking association, acting for its own account or in a fiduciary
capacity, (b) any charitable foundation, (c) any insurance company, (d) any
fraternal benefit society, (e) any pension, retirement or profit sharing trust
or fund within the meaning of Title I of ERISA or for which any bank, trust
company, national banking association or investment adviser registered under the
Investment Advisers Act of 1940, as amended, is acting as trustee or agent, (f)
any investment company or business development company, as defined in the
Investment Company Act of 1940, as amended, (g) any small business investment
company licensed under the Small Business Investment Act of 1958, as amended,
(h) any broker or dealer registered under the Securities Exchange Act of 1934,
as amended, or any investment adviser registered under the Investment Adviser
Act of 1940, as

                                       29

<PAGE>

amended, (i) any government, any public employees' pension or retirement system,
or any other government agency supervising the investment of public funds, (j)
any other entity all of the equity owners of which are Institutional Holders or
(k) any other Person which may be within the definition of "qualified
institutional buyer" as such term is used in Rule 144A, as from time to time in
effect, promulgated under the Securities Act of 1933, as amended.

        "Interest Charges" for any period shall mean all interest and all
amortization of debt discount and expense on any particular Indebtedness for
which such calculations are being made (including, without limitation,
payment-in-kind, zero coupon and other like Securities and the interest
component of Rentals on Capitalized Leases).

        "Investments" shall mean all investments, in cash or by delivery of
Property made, directly or indirectly in any Person, whether by acquisition of
shares of capital stock, Indebtedness or other obligations or Securities or by
loan, advance, capital contribution or otherwise; provided that "Investments"
shall not mean or include (a) routine investments in Property to be used or
consumed in the ordinary course of business or (b) receivables arising from the
sale of goods and services in the ordinary course of business.

        "Interest Rate Protection Agreement" shall mean any agreement, device or
arrangement designed to protect at least one of the parties thereto from the
fluctuations of interest rates, exchange rates or forward rates applicable to
such party's assets, liabilities or exchange transactions, including, without
limitation, dollar-denominated or cross-currency interest rate exchange
agreements, forward currency exchange agreements, dollar protection agreements,
interest rate cap agreements, interest rate collar agreements, forward rate
currency or interest rate options, puts or warrants.

        "Lien" shall mean any interest in Property securing an obligation owed
to, or a claim by, a Person other than the owner of the Property, whether such
interest is based on the common law, statute or contract, and including but not
limited to the security interest lien arising from a mortgage, encumbrance,
pledge, conditional sale or trust receipt or a lease, consignment or bailment
for security purposes. The term "Lien" shall include reservations, exceptions,
encroachments, easements, rights-of-way, covenants, conditions, restrictions,
leases and other title exceptions and encumbrances (including, with respect to
stock, stockholder agreements, voting trust agreements, buy-back agreements and
all similar arrangements) affecting property. For the purposes of this
Agreement, the Company or a Subsidiary shall be deemed to be the owner of any
Property which it has acquired or holds subject to a conditional sale agreement,
Capitalized Lease or other arrangement pursuant to which title to the Property
has been retained by or vested in some other Person for security purposes and
such retention or vesting shall constitute a Lien.

        "Long-Term Lease" shall mean any lease of real or personal Property
(other than a lease relating to data processing equipment not to exceed
$5,000,000 in aggregate total cost and a Capitalized Lease) having an original
term, including any period for which the lease may be renewed or extended at the
option of the lessor, of more than three years.

                                       30

<PAGE>
         "Make-Whole Amount" shall mean, with respect to any Note, an amount
equal to the excess, if any, of the Discounted Value of the Called Principal
of such Note over the sum of (1) such Called Principal plus (ii) interest
accrued thereon as of (including interest due on) the Settlement Date with
respect to such Called Principal. The Make-Whole Amount shall in no event be
less than zero.

         "Minority Interests" shall mean any shares of stock of any class of a
Subsidiary (other than directors' qualifying shares as required by law) that
are not owned by the Company and/or one or more of its Subsidiaries. Minority
Interests shall be valued by valuing Minority Interests constituting preferred
stock at the voluntary or involuntary liquidating value of such preferred
stock, whichever is greater, and by valuing Minority Interests constituting
common stock at the book value of capital and surplus applicable thereto
adjusted, if necessary, to reflect any changes from the book value of such
common stock required by the foregoing method of valuing Minority Interests in
preferred stock.

         "Multiemployer Plan" shall have the same meaning as in ERISA.

         "Net Income Available for Interest Charges" for any period shall mean
the sum of (a) Consolidated Net Income during such period plus (to the extent
deducted in determining Consolidated Net Income), (b) all provisions for any
Federal, state or other income taxes made by the Company and its Subsidiaries
during such period and (c) Consolidated Interest Charges during such period.

         "Notes" shall have the meaning set forth in Section 1.1.

         "Overdue Rate" shall mean the lesser of (a) the maximum rate
permitted by applicable law and (b) the greater of (1) 8.78% per annum or (2)
2% plus the rate which Morgan Guaranty Trust Company of New York, New York,
New York announces from time to time as its prime lending rate, as in effect
from time to time.

         "PBGC" shall mean the Pension Benefit Guaranty Corporation and any
entity succeeding to any or all of its functions under ERISA.

         "Person" shall mean an individual, partnership, corporation, trust or
unincorporated organization, and a government or agency or political
subdivision thereof.

         "Plan" shall mean a "pension plan," as such term is defined in ERISA,
established or maintained by the Company or any ERISA Affiliate or as to which
the Company or any ERISA Affiliate contributed or is a member or otherwise may
have any liability.

         "Property" shall mean any interest in any kind of property or asset,
whether real, personal or mixed, or tangible or intangible.

         "Receivables Financing" shall mean any transaction pursuant to which
funds are advanced to the Company or any Subsidiary in exchange for which the
Company or any of its Subsidiaries sell, pledge or otherwise dispose of any
notes or accounts receivable other than such a transaction (i) between the
Company and a Subsidiary pursuant to which funds are advanced to

                                      31

<PAGE>

the Subsidiary by the Company or (ii) between a Subsidiary and a Wholly-Owned
Subsidiary which is the parent of such Subsidiary pursuant to which funds are
advanced to the Subsidiary by such parent.

        "Redeemable Preferred Stock" shall mean any class or series of capital
stock of a Person which class or series of capital stock is entitled to
preference or priority over other classes or series of capital stock of such
Person in respect of voting rights, the payment Of dividends or the
distribution of assets upon liquidation and which preferred stock is
redeemable by such Person.

        "Reinvestment Yield" shall mean, with respect to the Called Principal
of any Note, the yield to maturity implied by (i) the yields reported, as of
10:00 A.M. (New York City local time) on the Business Day next preceding the
Settlement Date with respect to such Called Principal, on the display
designated as "Page 678" on the Telerate Service (or such other display as may
replace page 678 on the Telerate Service) for actively traded U.S. Treasury
securities having a maturity equal to the Remaining Average Life of such
Called Principal as of such Settlement Date, or if such yields shall not be
reported as of such time or the yields reported as of such time shall not be
ascertainable, (ii) the Treasury Constant Maturity Series yields reported, for
the latest day for which such yields shall have been so reported as of the
Business Day next preceding the Settlement Date with respect to such Called
Principal, in Federal Reserve Statistical Release H.15 (519) (or any
comparable successor publication) for actively traded U.S. Treasury securities
having a constant maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. Such implied yield shall be determined,
if necessary, by (a) converting U.S. Treasury bill quotations to
bond-equivalent yields in accordance with accepted financial practice and (b)
interpolating linearly between yields reported for various maturities.

        "Remaining Average Life" shall mean, with respect to the Called
Principal of any Note, the number of years (calculated to the nearest
one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the
sum of the products obtained by multiplying (a) each Remaining Scheduled
Payment of such Called Principal (but not of interest thereon) by (b) the
number of years (calculated to the nearest one-twelfth year) which will elapse
between the Settlement Date with respect to such Called Principal and the
scheduled due date of such Remaining Scheduled Payment.

        "Remaining Scheduled Payments" shall mean, with respect to the Called
Principal of any Note, all payments of such Called Principal and interest
thereon that would be due on or after the Settlement Date with respect to such
Called Principal if no payment of such Called Principal were made prior to its
scheduled due date.

        "Rentals" shall mean and include as of the date of any determination
thereof all fixed payments (including as such all payments which the lessee is
obligated to make to the lessor on termination of the lease or surrender of
the Property) payable by the Company or a Subsidiary, as lessee or sublessee
under a lease of Property, but shall be exclusive of any amounts required to
be paid by the Company or a Subsidiary (whether or not designated as rents or
additional rents) on account of maintenance, repairs, insurance, taxes and
similar charges. Fixed rents under any so-called "percentage leases" shall be
computed solely on the basis of the minimum rents, if any, required to be paid
by the lessee regardless of sales volume or gross revenues.

                                      32

<PAGE>

        "Reportable Event" shall have the same meaning as in ERISA.

        "Responsible Officer" shall mean the Chief Executive Officer, the
Chief Financial Officer, the Chief Operating Officer, if any, the President or
the Treasurer of the Company.

        "Restricted Investments" shall mean all Investments, other than
Investments described in clauses (a) through (h) of Section 5.11.

        "Restricted Payments" shall have the meaning set forth in Section
        5.10.

        "Rolling Four Quarters Period" shall mean a period of four consecutive
fiscal quarters treated as a single accounting period.

        "Russell Family" shall have the meaning set forth in Section 2.3(d).

        "Security" shall have the same meaning as in Section 2(1) of the
Securities Act of 1933, as amended.

        "Settlement Date" shall mean, with respect to the Called Principal of
any Note, the date on which such Called Principal is to be prepaid pursuant
to Section 2.2 or Section 2.3 or is declared to be immediately due and payable
pursuant to Section 6.3, as the context requires.

        "Subordinated Funded Debt" shall mean all Funded Debt of the Company
(a) which has a final maturity later than November 30, 2008, (b) which is not
subject to repayment prior to November 30, 2008 whether by means of a sinking
fund, periodic maturities, required prepayments or other analogous payments or
otherwise, (c) which by its express terms prohibits optional prepayments in
whole and in part on or prior to November 30, 2008 and (d) which is at all
times evidenced by a written instrument or instruments containing
subordination provisions acceptable to the holders of 66-2/3% in aggregate
principal amount of the Notes then outstanding, providing for the
subordination thereof to other Funded Debt of the Company, including, without
limitation, to the Notes.

        The term "subsidiary" shall mean as to any particular parent
corporation any corporation of which more than 50% (by number of votes) of the
Voting Stock shall be beneficially owned, directly or indirectly, by such
parent corporation. The term "Subsidiary" shall mean a subsidiary of the
Company.

        "Subsidiary Stock" shall have the meaning set forth in Section
5.12(c).

        "Voting Stock" shall mean Securities of any class or classes, the
holders of which are ordinarily, in the absence of contingencies, entitled to
elect a majority of the corporate directors (or Persons performing similar
functions).

        "Wholly-owned" when used in connection with any Subsidiary shall mean
a Subsidiary of which all of the issued and outstanding shares of stock
(including as "stock" for purposes of this definition any options or warrants
to purchase stock or other Securities exchangeable for or

                                      33

<PAGE>

convertible into stock) (except shares required as directors' qualifying
shares) shall be owned by the Company and/or one or more of its Wholly-owned
Subsidiaries.

        Section 8.2     Accounting Principles. Where the character or amount
of any asset or liability or item of income or expense is required to be
determined or any consolidation or other accounting computation is required to
be made for the purposes of this Agreement, the same shall be done in
accordance with GAAP, to the extent applicable, except where such principles
are inconsistent with the requirements of this Agreement.

        Section 8.3     Directly or Indirectly. Where any provision in this
Agreement refers to action to be taken by any Person, or which such Person is
prohibited from taking, such provision shall be applicable whether the action
in question is taken directly or indirectly by such Person.

SECTION 9. MISCELLANEOUS.

        Section 9.1     Registered Notes. The Company shall cause to be kept
at its principal office a register for the registration and transfer of the
Notes, and the Company will register or transfer or cause to be registered or
transferred, as hereinafter provided any Note issued pursuant to this
Agreement

        At any time and from time to time the holder of any Note which has
been duly registered as hereinabove provided may transfer such Note to any
Person other than a Competitor upon surrender thereof at the principal office
of the Company duly endorsed or accompanied by a written instrument of
transfer duly executed by the registered holder of such Note or its attorney
duly authorized in writing and containing a notation on such Note of the date
to which interest has been paid thereon and of the amount of any prepayments
made on account of the principal thereof.

        The Person in whose name any Note shall be registered shall be deemed
and treated as the owner and holder thereof for all purposes of this
Agreement. Payment of or on account of the principal, premium, if any, and
interest on any Note shall be made to or upon the written order of such
registered holder.

        Section 9.2     Exchange of Notes. At any time and from time to time,
upon not less than ten days' notice to that effect given by the holder of any
Note initially delivered or of any Note substituted therefor pursuant to
Section 9.1, this Section 9.2 or Section 9.3, and, upon surrender of such Note
at its office, the Company will deliver in exchange therefor, without expense
to such holder, except as set forth below, a Note for the same aggregate
principal amount as the then unpaid principal amount of the Note so
surrendered, or Notes in the minimum denomination of S1,000.000 (or such
lesser amount as shall constitute 100% of the Notes of such holder) or any
amount in excess thereof as such holder shall specify, dated as of the date to
which interest has been paid on the Note so surrendered or, if such surrender
is prior to the payment of any interest thereon, then dated as of the date of
issue, registered in the name of such Person or Persons as may be designated
by such holder, and otherwise of the same form and tenor as the Notes so
surrendered for exchange. The Company may require the payment of a sum
sufficient to cover any stamp tax or governmental charge imposed upon such
exchange or transfer.

                                      34

<PAGE>

        Section 9.3     Loss, Theft, Etc. of Notes. Upon receipt of evidence
satisfactory to the Company of the loss, theft, mutilation or destruction of
any Note, and in the case of any such loss, theft or destruction upon delivery
of a bond of indemnity in such form and amount as shall be reasonably
satisfactory to the Company, or in the event of such mutilation upon surrender
and cancellation of the Note, the Company will make and deliver without
expense to the holder thereof, a new Note, of like tenor, in lieu of such
lost, stolen, destroyed or mutilated Note. If the Purchaser or any subsequent
Institutional Holder having a net worth of $50,000,000 or more is the owner of
any such lost, stolen or destroyed Note, then the affidavit of an authorized
officer of such owner, setting forth the fact of loss, theft or destruction
and of its ownership of such Note at the time of such loss, theft or
destruction shall be accepted as satisfactory evidence thereof and no further
indemnity shall be required as a condition to the execution and delivery of a
new Note other than the written agreement of such owner to indemnify the
Company.

        Section 9.4     Expenses, Stamp Tax Indemnity. Whether or not the
transactions herein contemplated shall be consummated, the Company agrees to
pay directly all of your out-of-pocket expenses in connection with the
preparation, execution and delivery of this Agreement and the transactions
contemplated hereby, and all such expenses relating to any amendment, waivers
or consents pursuant to the provisions hereof (whether or not the same are
actually executed and delivered) including, without limitation, any
amendments, waivers, or consents resulting from any work-out, renegotiation or
restructuring relating to the performance by the Company of its obligations
under this Agreement and the Notes. The Company also agrees that it will pay
and save you harmless against any and all liability with respect to stamp and
other taxes, if any, which may be payable or which may be determined to be
payable in connection with the execution and delivery of this Agreement or
the Notes, whether or not any Notes are then outstanding. The Company agrees
to protect and indemnify you against any liability for any and all brokerage
fees and commissions payable or claimed to be payable to any Person authorized
by the Company in connection with the transactions contemplated by this
Agreement.

        Section 9.5     Powers and Rights Not Waived; Remedies Cumulative. No
delay or failure on the part of the holder of any Note in the exercise of any
power or right shall operate as a waiver thereof; nor shall any single or
partial exercise of the same preclude any other or further exercise thereof,
or the exercise of any other power or right, and the rights and remedies of
the holder of any Note are cumulative to, and are not exclusive of, any rights
or remedies any such holder would otherwise have.

        Section 9.6     Notices. All communications provided for hereunder
shall be in writing and, if to you, delivered or mailed prepaid by registered
or certified mail or overnight air courier, or by facsimile communication, in
each case addressed to you at your address appearing on Schedule I to this
Agreement or such other address as you or the subsequent holder of any Note
initially issued to you may designate to the Company in writing, and if, to the
Company, delivered or mailed by registered or certified mail or overnight air
courier, or by facsimile communication, to the Company at One Lee Street,
Alexander City, Alabama 35010, Attention: Chief Financial Officer or to such
other address as the Company may in writing designate to you or to a
subsequent holder of the Note initially issued to you; provided, however, that
a notice to you by overnight air courier shall only be effective if delivered
to you at a street address designated for such purpose in Schedule I, and a
notice to you by facsimile communication shall only be effective if made by
confirmed transmission to you at a telephone number designated

                                      35

<PAGE>

for such purpose in Schedule I and a copy of such facsimile communication is
delivered to you by overnight air courier on the next succeeding Business Day,
or, in either case, as you or a subsequent holder of any Note initially issued
to you may designate to the Company in writing.

        Section 9.7     Reproduction of Documents. This Agreement and all
documents relating hereto, including, without limitation, (a) consents,
waivers, and modifications which may hereafter be executed, (b) documents
received by you at the closing of your purchase of the Notes (except the Notes
themselves), and (c) financial statements, certificates and other information
previously or hereafter furnished to you, may be reproduced by you by any
photographic, photostatic, microfilm, micro-card, miniature photographic or
other similar process and you may destroy any original documents so
reproduced. The Company agrees and stipulates that any such reproduction shall
be admissible in evidence as the original itself in any judicial or
administrative proceeding (whether or not the original is in existence and
whether or not such reproduction was made by you in the regular course of
business) and that any enlargement, facsimile or further reproduction of such
reproduction shall likewise be admissible in evidence.

        Section 9.8     Successors and Assigns. This Agreement shall be
binding upon the Company and its successors and assigns and shall inure to
your benefit and to the benefit of your successors and assigns, including each
successive holder or holders of any Notes and this Agreement shall be binding
upon you and your successors and assigns and it shall inure to the benefit
of the Company and its successors and assigns.

        Section 9.9     Survival of Covenants and Representations. All
covenants, representations and warranties made by the Company herein and in
any certificates delivered pursuant hereto, whether or not in connection with
the Closing Date, shall survive the closing and the delivery of this Agreement
and the Notes and all representations and warranties made by you herein shall
survive the Closing Date and delivery of this Agreement and the Notes.

        All covenants, representations and warranties made by the Company in
connection herewith shall be deemed to have been relied upon by you
notwithstanding any investigation heretofore or hereafter made by you or on
your behalf.

        Section 9.10    Severability. Should any part of this Agreement for
any reason be declared invalid or unenforceable, such decision shall not
affect the validity or enforceability of any remaining portion, which
remaining portion shall remain in force arid effect as if this Agreement had
been executed with the invalid or unenforceable portion thereof eliminated and
it is hereby declared the intention of the parties hereto that they would have
executed the remaining portion of this Agreement without including therein any
such part, parts or portion which may, for any reason, be hereafter declared
invalid or unenforceable.

        Section 9.11    Governing Law. This Agreement and the Notes issued and
sold hereunder shall be governed by and construed in accordance with the laws
of the Stare of New Jersey.

                                      36

<PAGE>

        Section 9.12    Captions. The descriptive headings of the various
Sections or parts of this Agreement are for convenience only and shall not
affect the meaning or construction of any of the provisions hereof.

                 The execution hereof by you shall constitute a contract
between us for the uses and purposes hereinabove set forth, and this Agreement
may be executed in any number of counterparts each executed counterpart
constituting an original but all together only one agreement.

                        RUSSELL CORPORATION

                        By:  [SIG]
                             --------------------------

                        Its: EXECUTIVE V.P. AND C.F.O.
                             --------------------------

Accepted as of December 7, 1995.

                        THE PRUDENTIAL INSURANCE COMPANY OF
                        AMERICA

                        By:  [SIG]
                             --------------------------

                        Its: VICE-PRESIDENT
                             --------------------------

                                      37

<PAGE>

                              PURCHASER SCHEDULE

<TABLE>
<CAPTION>
                                                                      Aggregate
                                                                      Principal
                                                                      Amount of
                                                                      Notes to be                Note
                                                                      Purchased             Denomination(s)
                                                                      -----------           --------------
<S>                                                                  <C>                   <C>
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA                                                            $100,000,000           $100,000,000

 (1)     All payments on account of Notes held by such purchaser
         shall be made by wire transfer of immediately available
         funds for credit to:

         Account No. 050-54-526
         Morgan Guaranty Trust Company of New York
         23 Wall Street
         New York, New York 10015
         (ABA No.: 021-000-238)

         Each such wire transfer shall set forth the name
         of the Company, a reference to "6.78% Senior Notes
         due 2005, Security No. lInv. 5246!, and the due date
         and application (as among principal, interest and
         Yield-Maintenance Amount) of the
         payment being made.

 (2)     Address for all notices relating to payments:

         The Prudential Insurance Company of America
         c/o Prudential Capital Group
         Four Gateway Center
         100 Mulberry Street
         Newark, New Jersey 07102-4077

         Attention:   Manager, Investment Operations Group
</TABLE>

                                  SCHEDULE I
                             (to Note Agreement)

<PAGE>

 (3)     Address for all other communications and notices:

         The Prudential Insurance Company of America
         c/o Prudential Capital Group
         4900 Renaissance Tower
         1201 Elm Street
         Dallas, Texas 75270

         Attention:  Managing Director

 (4)     Recipient of telephone prepayment notices:

         Manager, Investment Operations Group
         (201) 802-5260

 (5)     Tax Identification No.: 22-1211670

                                     I-2

<PAGE>

                    DESCRIPTION OF CURRENT DEBT, FUNDED DEBT,
                     LONG-TERM LEASES, LIENS AND INVESTMENTS

1.     Current Debt of the Company and its Subsidiaries outstanding on the
       Closing Date is as follows:

<TABLE>
<CAPTION>
                   DEBT HOLDER                                  AMOUNT
<S>                                                      <C>
               Trust Company Bank(1)                      $      34,240,000
               Wachovia Bank & Trust                             63,300,000
               Guaranties(2)                                              0

                  Total Current Debt                      $      97,540,000
                                                          =================
</TABLE>

--------------

(1)    $9,240,000 of the amount outstanding represents debt for Russell Corp.
       UK., Ltd. which is denominated in Pound Sterling. Pound Sterling
       6,000,000 @ 1.54 Pound Sterling/$ = $9,240.000.
(2)    Guarantee of overdraft line of credit at the Bank of Scotland for Russell
       Corp. UK. Ltd. No amounts are outstanding at this time.

2.     Funded Debt (other than Capitalized Rentals) of Company and its
       Subsidiaries outstanding on the Closing Date is as follows:

<TABLE>
<CAPTION>
                DEBT HOLDER                                        AMOUNT
<S>                                                            <C>
       Prudential Insurance Co. (8.01%)                        $   17,500,000
       Prudential Insurance Co. (8.83%)                            42,900,000
       Allstate Life Insurance (6.72%)                             30,000,000
       Connecticut General Life Insurance (6.72%)                  25,000,000
       Teachers Insurance & Annuity (6.72%)                        20,000,000
       Trust Co. Bank                                              75,000,000
       Compass Bank - Desoto Mills (6.95%)                            227,399
       ECSC Loan (Russell U.K.)(1)                                    192,500
                                                               --------------

         Total Funded Debt                                     $  210,819,899
                                                               ==============
</TABLE>

--------------
(1)    Note is denominated in Pound Sterling 125,000 @ 1.54 Pound Sterling/$ =
       $192,500.

                                  SCHEDULE II

                                    (to Note
<PAGE>

3.     Long-Term Leases of the Company and its Subsidiaries outstanding on the
       Closing Date are as follows:

<TABLE>
<CAPTION>
             LESSOR                                      DESCRIPTION
<S>                                             <C>
     Central Plaza Properties                   Cross Creek Outlet; Mt. Airy, NC
     W.C. Bradley                               Licensed Products Division, Columbus, GA
     Stone/Snyder General Partnership           Baltimore, MD sales office
     Westerville Center                         Westerville, OH sales office
     Dermody Industrial Group                   Reno, NV warehouses and offices
     Trammell Crow Company                       Lenexa, KS sales office
     Q.R.E. Holding Company                     Anaheim, CA sales office
     City of Alexander City                     Alexander City, AL hangar
     Boca Corners, LP                           Norcross, GA sales office
     Mid-Georgia Landholdings, Inc.             College Park, GA sales office
     Terumo Corporation                         Canadian office and warehouse
     Cellus Holdings, Ltd.                      London, England sales office
     Montgomery Warehouses, LLC                 Montgomery, AL warehouse
     The Equitable Life Assurance Society
       of the United States                     Los Angeles, CA sales office
     Parkway Tower Associates, LP               Dallas. TX sales office
     Provident Life and Accident Insurance
       Company, Inc.                            Dallas, TX sales office
     Dallas Market Center Company               Dallas, TX sales office
     Kingawood Income Properties I, Ltd.        Dothan, AL warehouse
     Helmsley Spear, Inc.                       New York, NY sales office
     C-M Alabama Invesent Company               Greenville, AL sewing plant
     Halpern Investment Group, Inc.             Atlanta, GA sales office
     The Irvine Company                         Irvine, CA sales office
     Pelmad Corporation                         Miami, FL, sales office
     Fiztpatrick Family Partners, Ltd.          Montgomery, AL sewing plant
     Manhattan East Suite Hotels                New York, NY apartment
     Aronov Realty Company, Inc.                Alexander City, AL warehouse
     Prattville Square Shopping, Inc.           Prattville, AL knitting plant
     Castle Rock Factory Shops Partnership      Castle Rock, CO outlet store
     Tanger Properties Limited Partnership      Commerce, GA outlet store
                                                Pigeon Forge, TN outlet Store
                                                Riverhead, NY outlet store
                                                San Marcos, TX outlet store
                                                Locust Grove, GA outlet store
                                                Branson, MO outlet stores
     Dalton Factory Stores                      Dalton, GA outlet store
     Marco Outlet Partners                      Marco Island, FL outlet store
     Myrtle Beach Factory Stores, Inc.          Myrtle Beach, SC outlet store
     R.R. New Braunfels, Inc.                   New Braunfels, TX outlet store
     Nags Head Outlet Partners                  Nags Head, NC outlet store
     Ohio Factory Shops partnership             Jeffersonville, OH outlet store
</TABLE>

                                      II-2

<PAGE>

<TABLE>
<S>                                            <C>
Orlando Outlet World, Ltd.                      Orlando, FL outlet store
R.R. Park City, Inc.                            Park City, UT outlet store
Benderson 85-1 Trust                            Sedona, AZ outlet store
Slidell Factory Outlets,  Ltd.                  Slidell, LA outlet store
SOS Associates, Ltd.                            Sarasota, FL outlet store
New Plan Realty Trust                           St. Augustine, FL outlet store
                                                Osage Beach, MO outlet store
Manufacturer's Marketplace                      Traverse City, MI outlet store
Wigwam Outlet Stores, L.L.C.                    Goodyear, AZ outlet store
R.R. Williamsburg, Inc.                         Lightfoot, VA outlet store
The Cordish Company                             Ocean City, MD outlet store
Charter Oaks                                    Valdosta, GA outlet store
                                                Foley, AL outlet store
Columbo Associates                              Columbus, GA outlet store
Retail Developers, Ltd.                         Boaz, AL outlet store
New Plan factory Malls, Inc.                    Branson, MO outlet store
Factory Stores of America, Inc.                 Nashville, TN outlet score
Williams Investment Company                     Adel, GA outlet store
Ladyluck Bettendorf  L.C.                       Bettendorf, IA outlet store
</TABLE>

4.     Capitalized Leases of the Company and its Subsidiaries outstanding on
       the Closing Date are as follows:

<TABLE>
<CAPTION>
               DEBT HOLDER                                      AMOUNT
<S>                                                       <C>
Industrial Development Board of Geneva, AL                 $    3,000,000
Industrial Development Board of Columbia, AL                    3,000,000
Industrial Development Board of Ashland, AL                     2,100,000
Industrial Development Board of Niceville, FL                     300,000
                                                           --------------

  Total Capital Leases                                     $    8,400,000
                                                           ==============

</TABLE>

5.     LIENS SECURING INDEBTEDNESS OF THE COMPANY AND ITS SUBSIDIARIES
       EXISTING ON THE CLOSING DATE ARE AS FOLLOWS:

<TABLE>
<CAPTION>
               DEBT HOLDER                                      AMOUNT
<S>                                                       <C>
Industrial Development Board of Geneva, AL                 $    3,000,000
Industrial Development Board of Columbia, AL                    3,000,000
Industrial Development Board of Ashland, AL                     2,100,000
Industrial Development Board of Niceville, FL                     300,000
                                                           --------------

  Total Liens                                              $    8,400,000
                                                           ==============
</TABLE>

                                      II-3

<PAGE>

6.     Investment of the Company and the Subsidiary outstanding on the Closing
       Date are as follows:

<TABLE>
<CAPTION>
          INVESTMENTS IN SUBSIDIARIES                           AMOUNT
<S>                                                    <C>
       Cross Creek Apparel, Inc.                        $       40,832,622
       Russell Corp. UK, Ltd.                                   53,215,329
       Russell Athletic, Inc.                                    7,545,200
       Russell Development Corporation                           3,916,384
       Russell Athletic West, Inc.                               3,315,937
       Habersham Mills                                           3,325,465
       Russell Mill Stores, Inc.                                    86,634
       Alexander City Flying Service, Inc.                          62,486
       Desoto Mills, Inc.                                       10,145,438
       Russell Mexico, S.A. de C.V.                                 32,601
       Russell CZ s.r.o.                                            15,238
       Russell Foreign Sales, Ltd.                                     741
       Russell Spain, S.L.                                           4,404
       Russell Corp. Australia PTY, LTD.                           962,614
                                                        ------------------

         Total Investments                              $      123,461,093
                                                        ==================
</TABLE>

Subsidiaries of the Company

<TABLE>
<CAPTION>
                                          Jurisdiction            % of Voting
  Name of Subsidiary                    of Incorporation          Stock  Owned
----------------------                --------------------      ---------------
<S>                                   <C>                       <C>
Cross Creek Apparel, Inc.               North Carolina               100%
Eagle R Holdings Limited                United Kingdom               100%
Russell Corp. UK, Ltd.                  United Kingdom               100%
Citygate Textiles Limited               United Kingdom               100%
Russell Athletic, Inc.                  Georgia                      100%
Russell Mill Stores, Inc.               Delaware                     100%
Russell Athletic West, Inc.             Nevada                       100%
Habersham Mills                         Georgia                      100%
Alexander City Flying Service, Inc.     Alabama                      100%
Russell Development Corporation         Georgia                      100%
Desoto Mills, Inc.                      Alabama                      100%
Russell Germany GmbH                    Germany                      100%
Russell France SARL                     France                       100%
Russell Spain, S.L.                     Spain                        100%
Russell Italy Sri                       Italy                        100%
Russell Corp. Canada Limited            Canada                       100%
Russell CZ s.r.o.                       Czech Republic               100%
Russell Corp. Far East, Ltd.            Hong Kong                    100%
</TABLE>

                                  II-4
<PAGE>

<TABLE>
<S>                                    <C>                          <C>
Russell Mexico, S.A. de C.V.             Mexico                       100%
Russell Corp, Australia PTY, LTD.         Australia                    100%
Russell Foreign Sales, Ltd.             Barbados                     100%
</TABLE>

                                      II-5
<PAGE>
                               RUSSELL CORPORATION

                                6.78% Senior Note
                              Due November 30, 2008

No. R-l                                                        December 7, 1995

$100,000,000

         RUSSELL CORPORATION, an Alabama corporation (the "Company"), for
value received, hereby promises to pay to THE PRUDENTIAL INSURANCE COMPANY OF
AMERICA or registered assigns on the thirtieth day of November, 2008 the
principal amount of ONE HUNDRED MILLION DOLLARS ($100,000,000) and to pay
interest (computed on the basis of a 360-day year of twelve 30-day months) on
the principal amount from time to time remaining unpaid hereon at the rate of
6.78% per annum from the date hereof until maturity, payable semiannually on
November 30th and May 31st in each year (commencing on May 31, 1996) and at
maturity. The Company agrees to pay interest on overdue principal (including
any overdue required or optional prepayment of principal) and premium, if any,
and (to the extent legally enforceable) on any overdue installment of
interest, at the Overdue Rate after the due date, whether by acceleration or
otherwise, until paid. "Overdue Rate" shall mean the lesser of (a) the maximum
rate permitted by applicable law and (b) the greater of (1) 8.78% per annum or
(2) 2% plus the rate which Morgan Guaranty Trust Company of New York, New
York, New. York announces from time to time as its prime lending rate, as in
effect from time to time.

         Both the principal hereof and interest hereon are payable at the home
office of the registered holder of this Note in coin or currency of the United
States of America which at the time of payment shall be legal tender for the
payment of public and private debts. If any amount of principal, premium, if
any, or interest on or in respect of this Note becomes due and payable on any
date which is not a Business Day, such amount shall be payable on the next
succeeding Business Day and the period of extension shall be included in the
computation of interest payable on such Business Day. "Business Day" means any
day other than a Saturday Sunday or other day on which banks in Birmingham,
Alabama or New York, New York are required by law to close.

         This Note is one of the 6.78% Senior Notes due November 30, 2008 (the
"Notes") of the Company in the aggregate principal amount of $100,000,000
issued under and pursuant to the terms and provisions of the Note Agreement,
dated as of December 7, 1995 (the "Note Agreement"), entered into by the
Company with the original Purchaser therein referred to and this Note and the
holder hereof are entitled equally and ratably with the holders of all other
Notes outstanding under the Note Agreement to all the benefits provided for
thereby or referred to therein. Reference is hereby made to the Note Agreement
for a statement of such rights and benefits.

                                  EXHIBIT A
                             (to Note Agreement)

<PAGE>

This Note and the other Notes outstanding under the Note Agreement may be
declared due prior to their expressed maturitY dates and certain prepayments are
required to be made thereon, all in the events, on the terms and in the manner
and amounts as provided in the Note Agreement.

         The Notes are not subject to prepayment or redemption at the option
of the Company prior to their expressed maturity dates except on the terms and
conditions and in the amounts and with the premium, if any, set forth in the
Note Agreement.

         This Note is registered on the books of the Company and is
transferable only by surrender thereof at the principal office of the Company
duly endorsed or accompanied by a written instrument of transfer duly executed
by the registered holder of this Note or its attorney duly authorized in
writing. Payment of or on account of principal, premium, if any, and interest
on this Note shall be made only to or upon the order in writing of the
registered holder.

         THIS NOTE AND SAID NOTE AGREEMENT ARE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY.

                                                     RUSSELL CORPORATION

                                           By:
                                                ------------------------------
                                           Its:
                                                -----------------------------

         THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR THE LAWS OF ANY STATE AND MAY BE SOLD, TRANSFERRED OR OTHERWISE
DISPOSED OF ONLY IF REGISTERED OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT AVAILABLE UNDER SUCH ACT AND APPLICABLE STATE LAW.

                                      2

<PAGE>

                        REPRESENTATIONS AND WARRANTIES

         The Company represents and warrants to you as follows:

         1.       Subsidiaries. (a) Schedule III attached to the Agreements
states the name of each of the Company's Subsidiaries, its jurisdiction of
incorporation and the percentage of its Voting Stock owned by the Company
and/or its Subsidiaries. The Company and each Subsidiary has good and
marketable title to all of the shares it purports to own of the stock of each
Subsidiary, free and clear in each case of any Lien. All such shares have been
duly issued and are fully paid and non-assessable.

                  (b)      The Company, Cross Creek Apparel, Inc., Habersham
Mills, DeSoto Mills, Inc. and Alexander City Flying Service, Inc. when
consolidated in accordance with GAAP constitute 90% or more of the
consolidated assets, earnings and revenues of the Company and its
Subsidiaries.

         2.       Corporate Organization and Authority. The Company, and each
Subsidiary,

                  (a)      is a corporation duly organized, validly existing
         and in good standing under the laws of its jurisdiction of
         incorporation;

                  (b)      has all requisite power and authority and all
         necessary licenses and permits to own and operate its properties and
         to carry on its business as now conducted and as presently proposed
         to be conducted; and

                  (c)      is duly licensed or qualified and is in good
         standing as a foreign corporation in each jurisdiction wherein the
         nature of the business transacted by it or the nature of the Property
         owned or leased by it makes such licensing or qualification necessary
         except where the failure to be so licensed or qualified would not
         materially affect adversely the properties, business, prospects,
         profits or condition (financial or otherwise) of the Company and its
         Subsidiaries.

         3.       Financial Statements. (a) The consolidated balance sheets of
the Company and its consolidated Subsidiaries as of January 2, 1993, January
1, 1994 and December 31, 1994 and the statements of income, stockholders'
equity and cash flows for the fiscal years ended on said dates, each
accompanied by a report thereon containing an opinion unqualified as to scope
limitations imposed by the Company and otherwise without qualification except
as therein noted, by Ernst & Young (or their appropriate predecessor), have
been prepared in accordance with GAAP consistently applied except as therein
noted, are correct and complete and present fairly, in all material respects,
the financial position of the Company and its Subsidiaries as of such dates
and the results of their operations and changes in their cash flows for such
periods. The unaudited consolidated balance sheets of the Company and its
consolidated Subsidiaries as October 1, 1995 and the unaudited statements of
income and cash flows for the 13-week period and the 39-week period ended on
said date prepared by the Company

                                  EXHIBIT B
                             (to Note Agreement)

<PAGE>

have been prepared in accordance with GAAP consistently applied, are correct
and complete and present fairly, in all material respects, the financial
position of the Company and its consolidated Subsidiaries as of said date and
the results of their operations and changes in their financial position or
cash flows for such period subject to year-end audit adjustments.

         (b)      Since December 31, 1994, there has been no change in the
condition, financial or otherwise, of the Company and its consolidated
Subsidiaries as shown on the consolidated balance sheet as of such date except
changes in the ordinary course of business, none of which individually or in
the aggregate has been materially adverse.

         4.      Indebtedness.  (a)  Schedule II attached to the Agreement
correctly describes all Current Debt, Funded Debt, Capitalized Leases,
Long-Term Leases, Liens securing Indebtedness and Investments of the Company
and its Subsidiaries outstanding on the Closing Date.

         (b)      The Company has furnished to the Purchaser true, correct and
complete copies of each instrument under which any Indebtedness of the Company
is or will be issued or by which it is or may be secured and any other
instrument in respect of Indebtedness of the Company if such instrument
contains covenants or other provisions that have or could have the effect of
(1) restricting the types of provisions that any other agreement to which the
Company may become a party, may contain or (2) restricting the conduct of the
Company's business or the incurrence by the Company of Indebtedness.

         5.       Full Disclosure. Neither the financial statements referred
to in paragraph 4 hereof nor the Agreements, or any other written statement
furnished by or on behalf of the Company to you in connection with the
negotiation of the sale of the Notes, contains any untrue statement of a
material fact or omits a material fact necessary to make the statements
contained therein or herein not misleading. There is no fact peculiar to the
Company or its Subsidiaries which the Company has not disclosed to you in
writing which materially affects adversely nor, so far as the Company can now
foresee, will materially affect adversely the properties, business, prospects,
profits or condition (financial or otherwise) of the Company and its
Subsidiaries, taken as a whole.

         6.       Pending Litigation. There are no proceedings pending or, to
the knowledge of the Company, threatened against or affecting the Company or
any Subsidiary in any court or before any governmental authority or
arbitration board or tribunal which involve the possibility of materially
affecting adversely the properties, business, prospects, profits or condition
(financial or otherwise) of the Company and its Subsidiaries.

         7.       Title to Properties. The Company and each Subsidiary has
good and marketable title in fee simple (or its equivalent under applicable
law) to all material parcels of real Property and has good title to all the
other material items of Property it purports to own, including that reflected
in the most recent balance sheet referred to in paragraph 4 hereof, except as
sold or otherwise disposed of in the ordinary course of business and except
for Liens permitted by the Agreement.

                                     B-2

<PAGE>

         8.       Leases. The Company and each Subsidiary has complied with
all obligations under all leases to which it is a party except where the
failure to comply with such leases would not materially affect adversely the
properties, business, prospects, profits or condition (financial or otherwise)
of the Company and its Subsidiaries.

         9.       Patents and Trademarks. The Company and each Subsidiary owns
or possesses all the patents, trademarks, trade names, service marks,
copyrights, licenses and rights with respect to the foregoing necessary for
the present and planned future conduct of its business, without any known
conflict with the rights of others.

         10.      Sale is Legal and Authorized.  The sale of the Notes and
compliance by the Company with all of the provisions of the Agreement and the
Notes--

                  (a)      are within the corporate powers of the Company;

                  (b)      will not violate any provisions of any law or any
order of any court or governmental authority or agency and will not conflict
with or result in any breach of any of the terms, conditions or provisions of,
or constitute a default under the Articles of Incorporation or By-laws of the
Company or any indenture or other agreement or instrument to which the Company
is a party or by which it may be bound or result in the imposition of any
Liens or encumbrances on any property of the Company; and

                  (c)      have been duly authorized by proper corporate
action on the part of the Company and its stockholders, executed and delivered
by the Company and the Agreement and the Notes constitute the legal, valid and
binding obligations, contracts and agreements of the Company enforceable in
accordance with their respective terms.

         The obligations of the Company under the Agreement and the Notes rank
at least pari passu in right of payment will all other unsecured Indebtedness
(actual or contingent) of the Company,

         11.      No Defaults. No Default or Event of Default has occurred and
is continuing. The Company is not in default in the payment of principal,
premium, if any, or interest on any Indebtedness for borrowed money and is not
in default under any instrument or instruments or agreements under and subject
to which any Indebtedness for borrowed money has been issued and no event has
occurred and is continuing under the provisions of any such instrument or
agreements which with the lapse of time or the giving of notice, or both,
would constitute an event of default thereunder.

         12.      Governmental Consent. No approval, consent or withholding of
objection on the part of any regulatory body, state, Federal or local, is
necessary in connection with the execution and delivery by the Company of the
Agreement or the Notes or compliance by the Company with any of the provisions
of the Agreement or the Notes.

         13.      Taxes.  All tax returns required to be filed by the
Company or any Subsidiary in any Jurisdiction have, in fact, been filed,
and all taxes, assessments, fees and other governmental charges upon the
Company or any Subsidiary or upon any of their respective properties, income

                                     B-3
<PAGE>
or franchises, which are shown to be due and payable in such returns have been
paid. For all taxable years ending on or before January 4, 1992, the Federal
income tax liability of the Company and its Subsidiaries has been satisfied and
either the period of limitations on assessment of additional Federal income tax
has expired or the Company and its Subsidiaries have entered into an agreement
with the Internal Revenue Service closing conclusively the total tax liability
for the taxable year. The Company does not know of any proposed additional tax
assessment against it for which adequate provision has not been made on its
accounts, and no material controversy in respect of additional Federal or state
income taxes due since said date is pending or to the knowledge of the Company
threatened. The provisions for taxes on the books of the Company and each
Subsidiary are adequate for all open years, and for its current fiscal period.

        14.   Use of Proceeds. The net proceeds from the sale of the Notes will
be used to refinance short-term debt and for other corporate purposes. None of
the transactions contemplated in the Agreements (including, without limitation
thereof, the use of proceeds from the issuance of the Notes) will violate or
result in a violation of Section 7 of the Securities Exchange Act of 1934, as
amended, or any regulation issued pursuant thereto, including, without
limitation, Regulations G, T and X of the Board of Governors of the Federal
Reserve System, 12 C.F.R., Chapter II. None of the proceeds from the sale of the
Notes will be used to purchase, or refinance any borrowing the proceeds of which
were used to purchase, any "security" within the meaning of the Securities
Exchange Act of 1934, as amended.

        15.   Private Offering. Neither the Company, directly or indirectly, nor
any agent on its behalf has offered or will offer the Notes or any similar
Security or has solicited or will solicit an offer to acquire the Notes or any
similar Security from or has otherwise approached or negotiated or will approach
or negotiate in respect of the Notes or any similar Security with any Person
other than the Purchasers. Neither the Company, directly or indirectly, nor any
agent on its behalf has offered or will offer the Notes or any similar Security
or has solicited or will solicit an offer to acquire the Notes or any similar
Security from any Person so as to bring the issuance and sale of the Notes
within the provisions of Section 5 of the Securities Act of 1933, as amended.

        16.   ERISA. The consummation of the transactions provided for in the
Agreements and compliance by the Company with the provisions thereof and the
Notes issued thereunder will not involve any prohibited transaction within the
meaning of ERISA or Section 4975 of the Internal Revenue Service Code of 1986,
as amended. Each Plan complies in all material respects with all applicable
statutes and governmental rules and regulations, and (a) no Reportable Event
(other than a merger of Plans of the Company) has occurred and is continuing
with respect to any Plan, (b) neither the Company nor any ERISA Affiliate has
withdrawn from any Plan or Multiemployer Plan that is subject to Title IV of
ERISA or instituted steps to do so, and (c) no steps have been instituted to
terminate any Plan that is subject to Title IV or ERISA. No condition exists or
event or transaction has occurred in connection with any Plan which could result
in the incurrence by the Company or any ERISA Affiliate of any material
liability, fine or penalty. No Plan maintained by the Company or any ERISA
Affiliate, nor any trust created thereunder, has incurred and "accumulated
funding deficiency" as defined in Section 302 of ERISA nor does the present
value of all benefits vested under all Plans exceed, as of the last annual
valuation date, the value of the assets of the Plans allocable to such vested
benefits.

                                      B-4

<PAGE>

Neither the Company nor any ERISA Affiliate has any contingent liability with
respect to any post-retirement "welfare benefit plan" (as such term is defined
in ERISA) except as follows: (i) retirees and covered dependents may be entitled
to continuation coverage under the Company's medical benefits plans as required
by Part 6 of Subtitle B of Title I of ERISA and (ii) the Company maintains a
plan under which a death benefit of $2,000 is payable with respect to employees
and former employees who have completed 20 years of service.

        17.   Compliance with Law. Neither the Company nor an Subsidiary (a) is
in violation of any law, ordinance, franchise, governmental rule or regulation
to which it is subject (including, without limitation, any Environmental Law) or
(b) has failed to obtain any license, permit, franchise or other governmental
authorization necessary to the ownership of its property or to the conduct of
its business; which violation or failure to obtain would materially affect
adversely the business, prospects, profits, properties or condition (financial
or otherwise) of the Company and its Subsidiaries, taken as a whole, or
materially impair the ability of the Company to perform its obligations
contained in the Agreements or the Notes. Neither the Company nor any Subsidiary
is in default with respect to any order of any court or governmental authority
or arbitration board or tribunal.

        18.   Investment Company Act Status. Neither the Company nor any
Subsidiary is an "investment company," or a company "controlled" by an
"investment company," as such terms are defined in the Investment Company Act of
1940, as amended.

        19.   No Violation. Neither the Company nor any Subsidiary is in
violation of (a) its charter documents or By-laws or (b) any provision of any
agreement, indenture or other instrument to which the Company or any such
Subsidiary is a party or by which it may be bound, except where such violation
would not materially affect adversely the properties, business, profits,
prospects or condition (financial or otherwise) of the Company and its
Subsidiaries, and neither the Company nor any Subsidiary is a party to, or bound
by, any agreement, indenture or other instrument whereby performance in
accordance with the terms and provisions thereof could materially affect
adversely the business, prospects, profits or condition (financial or otherwise)
of the Company and its Subsidiaries.

                                      B-5

<PAGE>

                        DESCRIPTION OF CLOSING OPINION OF
                       INDEPENDENT COUNSEL TO THE COMPANY

        The closing opinion of Bradley, Arant, Rose & White, independent counsel
for the Company, which is called for by Section 4.1 of the Agreements, shall be
dated the Closing Date and addressed to the Purchaser, shall be satisfactory in
scope and form to the Purchaser and shall be to the effect that:

                1.   The Company is a corporation, duly incorporated, validly
        existing and in good standing under the laws of the State of Alabama,
        has the corporate power and the corporate authority to execute and
        perform the Agreements and to issue the Notes and has the full corporate
        power and the corporate authority to conduct the activities in which it
        is now engaged.

                2.   Each of Alexander City Flying Service, Inc., Habersham
        Mills and Cross Creek Apparel, Inc. (collectively, the "Specified
        Subsidiaries") is a corporation duly organized, validly existing and in
        good standing under the laws of its jurisdiction of incorporation and
        all of the issued and outstanding shares of capital stock of each
        Specified Subsidiary have been duly issued, are fully paid and
        non-assessable and are owned by the Company.

                3.   The Agreement has been duly authorized by all necessary
        corporate action on the part of the Company, have been duly executed and
        delivered by the Company and constitutes the legal, valid and binding
        contract of the Company enforceable in accordance with their terms,
        subject to bankruptcy, insolvency, fraudulent conveyance or similar laws
        affecting creditors' rights generally, and general principles of equity
        (regardless of whether the application of such principles is considered
        in a proceeding in equity or at law).

                4.   The Notes have been duly authorized by all necessary
        corporate action on the part of the Company, have been duly executed and
        delivered by the Company and constitute the legal, valid and binding
        obligations of the Company enforceable in accordance with their terms,
        subject to bankruptcy, insolvency, fraudulent conveyance or similar laws
        affecting creditors' rights generally, and general principles of equity
        (regardless of whether the application of such principles is considered
        in a proceeding in equity or at law).

                5.   No approval, consent or withholding of objection on the
        part of, or filing, registration or qualification with, any governmental
        body, Federal or state, is necessary in connection with the execution
        and delivery of the Agreement or the Notes.

                6.   The issuance and sale of the Notes and the execution,
        delivery and performance by the Company of the Agreement do not conflict
        with or result in any breach of any of the provisions of or constitute a
        default under or result in the creation or imposition of any Lien upon
        any of the Property of the Company pursuant to the provisions of the
        Articles of Incorporation or By-laws of the Company or any agreement

                                   EXHIBIT C
                              (to Note Agreement)

<PAGE>

        or other instrument known to such counsel to which the Company is a
        party or by which the Company may be bound.

                7.   There are no proceedings pending, or to the knowledge of
        such counsel threatened against the Company or any Subsidiary, in any
        court or before any arbitration board or tribunal which could materially
        affect adversely the properties, business, prospects or condition
        (financial or otherwise) of the Company and its Subsidiaries.

                8.   The issuance of the Notes and the use of the proceeds of
        the sale of the Notes in accordance with the provisions of and as
        contemplated by the Agreement does not violate or conflict with
        regulations, G, T, or X of the Board of Governors of the Federal Reserve
        System, 12 C.F.R. Chapter II.

                9.   The courts of the State of Alabama will give effect to
        those provisions of the Agreement and the Notes which stipulate that
        such documents shall be governed by, and construed in accordance with,
        the laws of the State of New Jersey.

                10.   The issuance, sale and delivery of the Notes under the
        circumstances contemplated by the Agreement does not, under existing
        law, require the registration of the Notes under the Securities Act of
        1933, as amended, or the qualification of an indenture under the Trust
        Indenture Act of 1939, as amended.

        The opinion of Bradley, Arant, Rose & White shall cover such other
matters relating to the sale of the Notes as the Purchaser may reasonably
request With respect to matters of fact on which such opinion is based, such
counsel shall be entitled to rely on appropriate certificates of public
officials and officers of the Company. The opinion of Bradley, Arant, Rose &
White, independent counsel for the Company, shall state that it may be relied
upon by permitted successors and assigns of the Purchaser.<PAGE>
                                                               EXHIBIT (4d)

                               RUSSELL CORPORATION

                                 AMENDMENT NO. 9

                                                          As of January 31, 2002

The Prudential Insurance Company of America
Four Gateway Center
100 Mulberry Street
Newark, NJ 07102

Ladies and Gentlemen:

         Russell Corporation, an Alabama corporation (hereinafter, the
"COMPANY"), together with its successors and assigns, agrees with you as
follows:

1.       PRIOR NOTE ISSUANCE.

         The Company issued and sold:

                  (A)      One Hundred Million Dollars ($100,000,000) in
         aggregate principal amount of its Senior Notes due November 30, 2008
         (as amended from time to time prior to the date hereof, the "EXISTING
         1995 SENIOR NOTES," and as amended by this Amendment No. 9, the "1995
         SENIOR NOTES") pursuant to that certain Note Agreement dated as of
         December 7, 1995, as amended by those various Letter Agreements dated
         November 17, 1998, June 5, 2001, as of June 30, 2001, September 17,
         2001, an additional Letter Agreement dated September 17, 2001 (the
         "ADDITIONAL PRUDENTIAL LETTER"), October 15, 2001, November 29, 2001
         and December 14, 2001, respectively (as in effect immediately prior to
         giving effect to the Amendments (as defined below) provided for hereby,
         the "EXISTING 1995 NOTE AGREEMENT").

                  (B)      One Hundred Twenty-Five Million Dollars
         ($125,000,000) in aggregate principal amount of its Senior Notes due
         August 28, 2007 (as amended from time to time prior to the date hereof,
         the "EXISTING 1997 SENIOR NOTES," and together with the Existing 1995
         Senior Notes, collectively, the "EXISTING SENIOR NOTES"; the Existing
         1997 Notes as amended by this Amendment No. 9, the "1997 SENIOR NOTES,"
         and together with the 1995 Senior Notes, collectively, the "SENIOR
         NOTES") pursuant to that certain Note Agreement dated as of August 28,
         1997, as amended by

<PAGE>

         those various Letter Agreements dated November 17, 1998, as of June 5,
         2001, June 30, 2001, September 17, 2001, October 15, 2001, November 29,
         2001 and December 14, 2001, respectively, and the Additional Prudential
         Letter (as in effect immediately prior to giving effect to the
         Amendments (as defined below) provided for hereby, the "EXISTING 1997
         NOTE AGREEMENT," and together with the Existing 1995 Note Agreement,
         collectively, the "EXISTING NOTE AGREEMENTS").

         The register for the registration and transfer of the Senior Notes
indicates that The Prudential Insurance Company of America ("PRUDENTIAL") is
currently the holder of the entire outstanding principal amount of the Senior
Notes.

2.       DEFINED TERMS.

         Capitalized terms used herein and not otherwise defined herein have the
meanings ascribed to them in the Existing Note Agreements as amended by this
Amendment No. 9 (as so amended, the "NOTE AGREEMENTS").

3.       AMENDMENTS TO THE EXISTING NOTE AGREEMENTS AND EXISTING NOTES.

         Subject to Section 5, Prudential and the Company hereby agree to each
of the amendments to the Existing Note Agreements and the Existing Notes as
provided for by this Amendment No. 9 in the manner specified in Exhibit A. Such
amendments are referred to herein, collectively, as the "AMENDMENTS."

4.       REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

         To induce you to enter into this Amendment No. 9 and to consent to the
Amendments, the Company represents and warrants as follows:

         4.1.     ORGANIZATION, POWER AND AUTHORITY, ETC.

         The Company is a corporation duly incorporated, validly existing and in
good standing under the laws of Alabama and has all requisite corporate power
and authority to enter into and perform its obligations under this Amendment No.
9.

         4.2.     SUBSIDIARIES.

         Schedule 4.2 attached hereto states the names of each of the Company's
Subsidiaries and its jurisdiction of incorporation. All such Subsidiaries are
directly or indirectly 100% owned by the Company. Each of the Company and the
Subsidiaries has good and marketable title to all shares it purports to own of
the stock of each Subsidiary, free and clear in each case of any Lien except for
Liens granted pursuant to the Collateral Documents (defined in Section 5.2). All
such shares have been duly issued and are fully paid and non-assessable.

                                       2
<PAGE>

         4.3.     LEGAL VALIDITY.

         The execution and delivery of this Amendment No. 9 by the Company and
compliance by the Company with its obligations under this Amendment No. 9, the
Note Agreements and the Notes (a) are within the corporate powers of the
Company; (b) are legal and do not violate any provisions of any law or any order
of any court or governmental authority or agency and do not conflict with or
result in any breach of any of the terms, conditions or provisions of, or
constitute a default under the Articles of Incorporation or By-laws of the
Company or any indenture or other agreement or instrument to which the Company
is a party or by which it may be bound or result in the imposition of any Liens
or encumbrances on any property of the Company; and (c) has been duly authorized
by proper corporate action on the part of the Company and its stockholders (if
necessary), executed and delivered by a duly authorized officer of the Company,
and constitutes a legal, valid and binding obligation, contract and agreement of
the Company, enforceable in accordance with its terms.

         4.4.     NO DEFAULTS.

         After giving effect to the Amendments set forth in this Amendment No.
9, no Default or Event of Default will exist.

         4.5.     COMPLIANCE WITH LAW.

                  (A)      The execution, delivery and performance of this
         Amendment No. 9 by the Company and the compliance by the Company with
         all of the provisions of this Amendment No. 9, the Note Agreements and
         the Notes will not violate any law, ordinance, franchise, governmental
         rule or regulation to which it is subject (including, without
         limitation, any Environmental Law).

                  (B)      Neither the Company nor any Subsidiary has failed to
         obtain any license, permit, franchise or other governmental
         authorization necessary to the ownership of its property or to the
         conduct of its business; which violation or failure to obtain would
         materially affect adversely the business, prospects, profits,
         properties or condition (financial or otherwise) of the Company and its
         Subsidiaries, taken as a whole, or materially impair the ability of the
         Company to perform its obligations contained in the Amendment No. 9,
         the Note Agreements and the Notes.

                  (C)      Neither the Company nor any Subsidiary is in default
         with respect to any order of any court or governmental authority or
         arbitration board or tribunal.

                                       3
<PAGE>

         4.6.     FULL DISCLOSURE.

         Neither the financial statements and other certificates previously
provided to Prudential pursuant to the provisions of the Existing Note
Agreements nor the statements made in this Amendment No. 9 nor any other written
statements furnished by or on behalf of the Company to Prudential in connection
with the proposal and negotiation of the Amendments, taken as a whole, contain
any untrue statement of a material fact or omit a material fact necessary to
make the statements contained therein and herein not misleading. There is no
fact relating to any event or circumstance that has occurred or arisen since
December 31, 2000 that the Company has not publicly disclosed or has otherwise
disclosed to Prudential in writing that has had or, so far as the Company can
now foresee, will have a material adverse effect on the properties, business,
prospects, profits or condition (financial or otherwise) of the Company and its
Subsidiaries, taken as a whole.

5.       EFFECTIVENESS OF AMENDMENTS.

         The Amendments shall become effective on the date (the "AMENDMENT NO. 9
EFFECTIVE DATE") upon which all of the following conditions precedent have been
satisfied:

         5.1.     EXECUTION AND DELIVERY OF THIS AMENDMENT NO. 9.

         The Company and Prudential shall have executed and delivered a
counterpart of this Amendment No. 9.

         5.2.     COLLATERAL DOCUMENTS.

         A fully executed Guarantee and Collateral Agreement ("COLLATERAL
AGREEMENT") dated as of December 14, 2001 by and among the Company, Russell
Financial Services, Inc., Russell Asset Management, Inc., RINTEL Properties,
Inc., DeSoto Mills, Inc., Cross Creek Apparel, LLC, and Cross Creek Holdings,
Inc. in favor of Wachovia Bank, N.A. as collateral agent ("COLLATERAL AGENT")
for Prudential and the other Secured Parties (as that term is defined in the
Intercreditor Agreement) in the form of Exhibit 5.2 hereto including any
mortgages, Uniform Commercial Code financing statements and other agreements or
instruments evidencing Liens granted in favor of the Collateral Agent
(collectively and together with the Collateral Agreement, the "COLLATERAL
DOCUMENTS") shall have been delivered to Prudential. A Consent and Confirmation
fully executed by the Company and each Subsidiary party thereto shall also have
been delivered to Prudential.

                                       4
<PAGE>

         5.3.     LEGAL OPINION.

         Prudential shall have received the opinion of (a) Alston & Bird LLP and
(b) Christopher Champion Esq., in-house counsel for the Company, covering such
matters relating to this Amendment No. 9, the Note Agreements and the Notes as
Prudential shall have reasonably requested.

         5.4.     FEES AND EXPENSES.

                  (A)      The Company shall have paid all costs and expenses of
         Prudential relating to this Amendment No. 9 in accordance with Section
         6 hereof (including, without limitation, attorney's fees and
         disbursements).

                  (B)      The Company shall have paid the amendment fees
         described in Section 7 hereof to Prudential.

         5.5.     REPRESENTATIONS AND WARRANTIES.

         The representations and warranties set forth in Section 4 hereof shall
be true and correct as of the Amendment No. 9 Effective Date.

         5.6.     1992 NOTE AGREEMENTS.

         Prudential shall have received evidence reasonably satisfactory to it
that the Company's Note Agreements dated as of December 1, 1992 with Teachers
Insurance and Annuity Association of America, Allstate Life Insurance Company,
Connecticut General Life Insurance Company and Connecticut General Life
Insurance Company on behalf of one or more separate accounts and subsequent
transferees of notes thereunder (including Prudential) shall have been amended
on or before the date hereof on the terms substantially identical to the terms
of this Amendment No. 9.

         5.7.     WACHOVIA DOCUMENTS.

         Prudential (or its special counsel) shall have received a fully
executed copy of the Amended and Restated Credit Agreement dated as of January
31, 2002 among the Company, Russell Europe Limited, Wachovia Bank, N.A. as
Administrative Agent and the various other institutions listed on the signature
pages thereto, certified as true, correct and complete by the Company,
substantially in the form attached hereto as Exhibit 5.7.

         5.8.     SUNTRUST DOCUMENTS.

         Prudential (or its special counsel) shall have received a fully
executed copy of the Amended and Restated TermLoan/Bankers' Acceptance Agreement
dated as of January 31, 2002 by and between the Company and SunTrust Bank
(formerly

                                       5
<PAGE>

known as Trust Company Bank), certified as true, correct and complete by the
Company, substantially in the form attached hereto as Exhibit 5.8.

         5.9.     SALE AND LEASEBACK OF MONTGOMERY.

         The Company shall have entered into an engagement letter on terms
reasonably satisfactory to Prudential regarding the sale and leaseback of the
Company's Montgomery, Alabama distribution center.

         5.10.    RECEIVABLES PURCHASE AGREEMENT.

         The Company and Russell Financial Services, Inc. ("RUSSELL FINANCIAL")
shall have entered into the Accounts Receivable Purchase Agreement dated as of
the date hereof on terms reasonably satisfactory to Prudential, providing for
the sale by the Company and/or Russell Financial of receivables for the amount
of $50,000,000.

         5.11.    PROCEEDINGS SATISFACTORY.

         All proceedings taken in connection with this Amendment No. 9 and all
documents and papers relating hereto shall be reasonably satisfactory to
Prudential and its special counsel. Prudential and its special counsel shall
have received copies of such documents and papers (whether or not specifically
referred to above in this Section 5) as they may reasonably request in
connection therewith, in form and substance satisfactory to them.

6.       EXPENSES.

         Whether or not the Amendments become effective, the Company will
promptly pay, on the Amendment No. 9 Effective Date or, if the Amendments have
not become effective then within three Business Days of receipt of an invoice
therefor, all fees, expenses and costs relating to this Amendment No. 9,
including, but not limited to, the fees of your special counsel, Bingham Dana
LLP, incurred in connection with the preparation, negotiation and delivery of
this Amendment No. 9 and any other documents related thereto to the extent set
forth in a statement delivered to the Company at least one Business Day before
the Amendment No. 9 Effective Date. In addition, the Company will pay all such
fees, expenses and costs set forth in any subsequent statement within 30 days of
its receipt thereof. Nothing in this Section shall limit the Company's
obligations pursuant to 9.4 of the Existing Note Agreements.

7.       AMENDMENT FEES.

         Prior to the effectiveness of this Amendment No. 9, the Company shall
have paid to Prudential an amendment fee equal to 0.20% of the outstanding
principal amount of the Senior Notes in the manner and to the accounts specified
in the

                                       6
<PAGE>

Existing Note Agreements for payments of principal and interest on the
Senior Notes. Also, pursuant to the Additional Prudential Letter the Company
shall have paid to Prudential an amendment fee equal to 0.10% of the outstanding
principal amount of the Senior Notes in the manner and to the accounts described
in the preceding sentence.

8.       MISCELLANEOUS.

         8.1.     PART OF EXISTING NOTE AGREEMENTS; FUTURE REFERENCES, ETC.

         This Amendment No. 9 shall be construed in connection with and as a
part of the Existing Note Agreements and, except as expressly amended by this
Amendment No. 9, all terms, conditions and covenants contained in the Existing
Note Agreements are hereby ratified and shall be and remain in full force and
effect. Any and all notices, requests, certificates and other instruments
executed and delivered after the execution and delivery of this Amendment No. 9
may refer to the Existing Note Agreements without making specific reference to
this Amendment No. 9, but nevertheless all such references shall include this
Amendment No. 9 unless the context otherwise requires.

         8.2.     COUNTERPARTS.

         This Amendment No. 9 may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute
one instrument. Each counterpart may consist of a number of copies hereof, each
signed by less than all, but together signed by all, of the parties hereto.

         8.3.     GOVERNING LAW.

         THIS AMENDMENT NO. 9 SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE
OF NEW JERSEY EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT
WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN NEW
JERSEY.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;
                          NEXT PAGE IS SIGNATURE PAGE.]

                                       7
<PAGE>

         If you are in agreement with the foregoing, please so indicate by
signing the acceptance below on the accompanying counterpart of this Amendment
No. 9 and returning it to the Company, whereupon it will become a binding
agreement between you and the Company.

                                       RUSSELL CORPORATION

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

                                       8
<PAGE>

         The foregoing Amendment No. 9 is hereby accepted as of the date first
above written. By its execution below, the undersigned represents that it is
either the registered owner of one or more of the Senior Notes or is the
beneficial owner of one or more of the Senior Notes and is authorized to enter
into this Amendment No. 9 in respect thereof.

                                       THE PRUDENTIAL INSURANCE
                                       COMPANY OF AMERICA

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

                                       9
<PAGE>

                                  SCHEDULE 4.2

                                 [SUBSIDIARIES]

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------
SUBSIDIARIES                                                            JURISDICTION OF
                                                                        FORMATION
------------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>
Domestic:
---------
Alexander City Flying Service, Inc.                                     Alabama
------------------------------------------------------------------------------------------------------------------------
Cross Creek Apparel, LLC                                                North Carolina
------------------------------------------------------------------------------------------------------------------------
Cross Creek Holdings, Inc.                                              Delaware
------------------------------------------------------------------------------------------------------------------------
DeSoto Mills, Inc.                                                      Alabama
------------------------------------------------------------------------------------------------------------------------
Jerzees Apparel, LLC                                                    Georgia
------------------------------------------------------------------------------------------------------------------------
Mossy Oak Apparel Company                                               Delaware
------------------------------------------------------------------------------------------------------------------------
RINTEL Properties, Inc.                                                 Delaware
------------------------------------------------------------------------------------------------------------------------
Russell Apparel, LLC                                                    Alabama
------------------------------------------------------------------------------------------------------------------------
Russell Asset Management, Inc.                                          Delaware
------------------------------------------------------------------------------------------------------------------------
Russell Athletic, Inc.                                                  Georgia
------------------------------------------------------------------------------------------------------------------------
Russell Athletic West, Inc.                                             Nevada
------------------------------------------------------------------------------------------------------------------------
Russell Financial Services, Inc.                                        Delaware
------------------------------------------------------------------------------------------------------------------------
Russell Servicing Company, Inc.                                         Alabama
------------------------------------------------------------------------------------------------------------------------
Russell Corporation                                                     Delaware
------------------------------------------------------------------------------------------------------------------------
Russell Yarn LLC                                                        Alabama
------------------------------------------------------------------------------------------------------------------------

Foreign:
--------
Athletic de Camargo S.A. de C.V.                                        Mexico
------------------------------------------------------------------------------------------------------------------------
Citygate Textiles Limited                                               United Kingdom
------------------------------------------------------------------------------------------------------------------------
Cross Creek de Honduras, S.A. de C.V.                                   Honduras
------------------------------------------------------------------------------------------------------------------------
Cross Creek de Jimenez, S.A. de C.V.                                    Mexico
------------------------------------------------------------------------------------------------------------------------
Eagle R Holdings Limited                                                United Kingdom
------------------------------------------------------------------------------------------------------------------------
Jerzees Campeche, S.A. de C.V.                                          Mexico
------------------------------------------------------------------------------------------------------------------------
Jerzees Chloma, S.A.                                                    Honduras
------------------------------------------------------------------------------------------------------------------------
Jerzees de Buena Vista, S.A.                                            Honduras
------------------------------------------------------------------------------------------------------------------------
Jerzees de Honduras, S.A. de C.V.                                       Honduras
------------------------------------------------------------------------------------------------------------------------
Jerzees Yucatan, S.A. de C.V.                                           Mexico
------------------------------------------------------------------------------------------------------------------------
RUServicios, S.A                                                        Honduras
------------------------------------------------------------------------------------------------------------------------
Russell Co-Op LLC                                                       Guam
------------------------------------------------------------------------------------------------------------------------
Russell Corp. Australia Pty. Ltd.                                       Australia
------------------------------------------------------------------------------------------------------------------------
Russell Corp. Bangladesh Limited                                        Bangladesh
------------------------------------------------------------------------------------------------------------------------
Russell Corp. Canada Ltd.                                               Canada
------------------------------------------------------------------------------------------------------------------------
Russell Corp. Far East Limited                                          Hong Kong
------------------------------------------------------------------------------------------------------------------------
Russell CZ s.r.o.                                                       Czech Republic
------------------------------------------------------------------------------------------------------------------------
Russell do Brasil Ltda                                                  Brazil
------------------------------------------------------------------------------------------------------------------------
Russell Europe Limited                                                  United Kingdom
------------------------------------------------------------------------------------------------------------------------
Russell Foreign Sales, Ltd.                                             Barbados
------------------------------------------------------------------------------------------------------------------------
Russell France, S.A.R.L.                                                France
------------------------------------------------------------------------------------------------------------------------
Russell Germany, GmbH                                                   Germany
------------------------------------------------------------------------------------------------------------------------
Russell Holdings Europe B.V.                                            Netherlands
------------------------------------------------------------------------------------------------------------------------
Russell Italy S.r.L.                                                    Italy
------------------------------------------------------------------------------------------------------------------------

</TABLE>

                                 Schedule 4.2-1

<TABLE>
<S>                                                                     <C>
------------------------------------------------------------------------------------------------------------------------
Russell Japan KK                                                        Japan
------------------------------------------------------------------------------------------------------------------------
Russell Mexico, S.A. de C.V.                                            Mexico
------------------------------------------------------------------------------------------------------------------------
Russell Spain, S.L.                                                     Spain
------------------------------------------------------------------------------------------------------------------------
Servicios Russell, S.A. de C.V.                                         Mexico
------------------------------------------------------------------------------------------------------------------------

</TABLE>

                                 Schedule 4.2-2
<PAGE>

                                    EXHIBIT A

                                   AMENDMENTS

ss.1     Section 1.1 of the Existing 1995 Note Agreement is hereby amended and
         restated in its entirety to read as follows:

                  "Section 1.1. Description of Notes. The Company will authorize
         the issue and sale of $100,000,000 aggregate principal amount of its
         Senior Notes (the "NOTES") to be dated the date of issue, to bear
         interest from (and including) December 7, 1995 and thereafter at the
         Applicable Rate, payable semiannually on May 31st and November 30th in
         each year and at maturity (with the first such payment to be made on
         May 31, 1996) and to bear interest on overdue principal (including any
         overdue required or optional prepayment of principal) and premium, if
         any, and (to the extent legally enforceable) on any overdue installment
         of interest at the Overdue Rate after the date due, whether by
         acceleration or otherwise, until paid, to be expressed to mature on
         November 30, 2008, and to be substantially in the form attached hereto
         as Exhibit A. Interest on the Notes shall be computed on the basis of a
         360-day year of twelve 30-day months. If any amount of principal,
         premium, if any, or interest on or in respect of any Note becomes due
         and payable on any date which is not a Business Day, such amount shall
         be payable on the next succeeding Business Day and the period of
         extension shall be included in the computation of interest payable on
         such Business Day. The Notes are not subject to prepayment or
         redemption at the option of the Company prior to their expressed
         maturity dates except on the terms and conditions and in the amounts
         and with the premium, if any, set forth in ss. 2 of this Agreement. The
         term "Notes" as used herein shall include each Note delivered pursuant
         to this Agreement. You are hereafter sometimes referred to as the
         "Purchaser." The terms which are capitalized herein shall have the
         meanings set forth in ss. 8.1 or in Schedule 5 attached hereto unless
         the context shall otherwise require."

ss.2     Section 1.1 of the Existing 1997 Note Agreement is hereby amended and
         restated in its entirety to read as follows:

                  "Section 1.1. Description of Notes. The Company will authorize
         the issue and sale of $125,000,000 aggregate principal amount of its
         Senior Notes (the "NOTES") to be dated the date of issue, to bear
         interest from (and including) August 28, 1997 and thereafter at the
         Applicable Rate, payable quarterly on November 28, February 28, May

                                  Exhibit A-1
<PAGE>

         28 and August 28 in each year and at maturity (with the first such
         payment to be made on November 28, 1997) and to bear interest on
         overdue principal (including any overdue required or optional
         prepayment of principal) and premium, if any, and (to the extent
         legally enforceable) on any overdue installment of interest at the
         Overdue Rate after the date due, whether by acceleration or otherwise,
         until paid, to be expressed to mature on August 28, 2007, and to be
         substantially in the form attached hereto as Exhibit A. Interest on the
         Notes shall be computed on the basis of a 360-day year of twelve 30-day
         months. If any amount of principal, premium, if any, or interest on or
         in respect of any Note becomes due and payable on any date which is not
         a Business Day, such amount shall be payable on the next succeeding
         Business Day and the period of extension shall be included in the
         computation of interest payable on such Business Day. The Notes are not
         subject to prepayment or redemption at the option of the Company prior
         to their expressed maturity dates except on the terms and conditions
         and in the amounts and with the premium, if any, set forth in ss. 2 of
         this Agreement. The term "Notes" as used herein shall include each Note
         delivered pursuant to this Agreement. You are hereafter sometimes
         referred to as the "Purchaser." The terms which are capitalized herein
         shall have the meanings set forth in ss. 8.1 or in Schedule 5 attached
         hereto unless the context shall otherwise require."

ss.3     The Existing 1995 Note Agreement is hereby amended by inserting a new
         Section 2.8 to read as follows:

                  "SECTION 2.8. INTEREST RATE.

                  (a)      Applicable Rate. Interest shall accrue on the unpaid
         principal balance of the Notes at the rate (the "APPLICABLE RATE") of
         (i) from (and including) December 7, 1995 through and including
         September 30, 2001, 6.78% per annum; (ii) from (and including) October
         1, 2001 through and including the day before the Amendment No. 9
         Effective Date, 7.78% per annum; and (iii) from (and including) the
         Amendment No. 9 Effective Date and at all times thereafter, 7.78% per
         annum plus the increase, if any, indicated in ss. 2.8(b) or ss. 2.8(c)
         as may be applicable.

                  (b)      Interest Rate Adjustment When Notes are Not Rated.
         If, on any day on or after July 1, 2002, (x) a rating of the Notes from
         a Rating Agency is not in effect and (y) the Company has failed to
         comply with either of the pricing conditions set forth in the next
         succeeding sentence as of the first day of the then current fiscal
         quarter (commencing with, for the avoidance of doubt, July 1, 2002),

                                  Exhibit A-2
<PAGE>

         then the interest rate accruing on the Notes for such day shall be the
         rate as set forth in ss. 2.8(a) plus (A) 1.25% per annum if it is the
         Company's first failure to meet either of such pricing conditions or
         (B) 2.50% per annum in all other circumstances. The pricing conditions
         referred to in the preceding sentence are

                           (i)      the Adjusted Debt/EBITDA Ratio as at the
                  last day of the period of four consecutive fiscal quarters
                  most recently ended must be equal to or less than the ratio
                  set forth in Schedule 2.8(b) that is applicable to the fiscal
                  quarter in which such last day falls; and

                           (ii)     the Adjusted Debt Service Coverage Ratio for
                  the period of four consecutive fiscal quarters most recently
                  ended must be equal to or greater than 2.0 to 1.

                  (c)      Interest Rate Adjustment When Notes Are Rated. On
         each day on or after the Amendment No. 9 Effective Date on which a
         rating of the Notes from a Rating Agency shall be in effect, the
         interest rate accruing on the Notes for such day shall be the rate as
         set forth in ss. 2.8(a) plus (i) 2.50% per annum if such rating is
         below Investment Grade or (ii) 0% per annum if such rating is
         Investment Grade. If, on any day, there are ratings in effect from more
         than one Rating Agency, the lowest rating shall apply for purposes of
         this ss. 2.8(c).

                  (d)      Adjustment for Delayed Interest Rate Calculation. If,
         on any interest payment date, any interest rate adjustment provided for
         in Section 2.8(b) with respect to the then current fiscal quarter, or
         any previous fiscal quarter (each, an "OPEN QUARTER"), cannot be
         calculated due to the absence of the relevant financial information for
         the Company, the amount payable on such interest payment date for the
         interest period then ended shall be determined by reference to the rate
         applicable to the Notes immediately following the most recent fiscal
         quarter for which such information was available; provided, however,
         that, at such time as such financial information is available with
         respect to any Open Quarter, the amount due in respect of the interest
         period that includes all or any part of such Open Quarter shall be
         recomputed taking into account such financial information, and any
         additional amount due, or any credit in respect of any overpayment
         made, in respect of such Open Quarter (or any part thereof) shall be
         paid, or applied to reduce the amount due, respectively, on the next
         succeeding interest payment date or the redemption date of the Notes,
         as the case may be.

                                  Exhibit A-3
<PAGE>

ss.4     The Existing 1997 Note Agreement is hereby amended by inserting a new
         Section 2.8 to read as follows:

                  "SECTION 2.8. INTEREST RATE.

                  (a)      Applicable Rate. Interest shall accrue on the unpaid
         principal balance of the Notes at the rate (the "APPLICABLE RATE") of
         (i) from (and including) August 28, 1997 through and including
         September 30, 2001, 6.65% per annum; (ii) from (and including) October
         1, 2001 through and including the day before the Amendment No. 9
         Effective Date, 7.65% per annum; and (iii) from (and including) the
         Amendment No. 9 Effective Date and at all times thereafter, 7.65% per
         annum plus the increase indicated in ss. 2.8(b) or ss. 2.8(c) as may be
         applicable.

                  (b)      Interest Rate Adjustment When Notes are Not Rated.
         If, on any day on or after July 1, 2002, (x) a rating of the Notes from
         a Rating Agency is not in effect and (y) the Company has failed to
         comply with either of the pricing conditions set forth in the next
         succeeding sentence as of the first day of the then current fiscal
         quarter (commencing with, for the avoidance of doubt, July 1, 2002),
         then the interest rate accruing on the Notes for such day shall be the
         rate as set forth in ss. 2.8(a) plus (A) 1.25% per annum if it is the
         Company's first failure to meet either of such pricing conditions or
         (B) 2.50% per annum in all other circumstances. The pricing conditions
         referred to in the preceding sentence are

                           (i)      the Adjusted Debt/EBITDA Ratio as at the
                  last day of the period of four consecutive fiscal quarters
                  most recently ended must be equal to or less than the ratio
                  set forth in Schedule 2.8(b) that is applicable to the fiscal
                  quarter in which such last day falls; and

                           (ii)     the Adjusted Debt Service Coverage Ratio for
                  the period of four consecutive fiscal quarters most recently
                  ended must be equal to or greater than 2.0 to 1.

                  (c)      Interest Rate Adjustment When Notes Are Rated. On
         each day on or after the Amendment No. 9 Effective Date on which a
         rating of the Notes from a Rating Agency shall be in effect, the
         interest rate accruing on the Notes for such day shall be the rate as
         set forth in ss. 2.8(a) plus (i) 2.50% per annum if such rating is
         below Investment Grade or (ii) 0% per annum if such rating is
         Investment Grade. If, on

                                  Exhibit A-4
<PAGE>

         any day, there are ratings in effect from more than one Rating Agency,
         the lowest rating shall apply for purposes of this ss. 2.8(c).

                  (d)      Adjustment for Delayed Interest Rate Calculation. If,
         on any interest payment date, any interest rate adjustment provided for
         in Section 2.8(b) with respect to the then current fiscal quarter, or
         any previous fiscal quarter (each, an "OPEN QUARTER"), cannot be
         calculated due to the absence of the relevant financial information for
         the Company, the amount payable on such interest payment date for the
         interest period then ended shall be determined by reference to the rate
         applicable to the Notes immediately following the most recent fiscal
         quarter for which such information was available; provided, however,
         that, at such time as such financial information is available with
         respect to any Open Quarter, the amount due in respect of the interest
         period that includes all or any part of such Open Quarter shall be
         recomputed taking into account such financial information, and any
         additional amount due, or any credit in respect of any overpayment
         made, in respect of such Open Quarter (or any part thereof) shall be
         paid, or applied to reduce the amount due, respectively, on the next
         succeeding interest payment date.

ss.5     Section 5 of the Existing Note Agreements is hereby deleted and there
         is substituted therefor Section 5.1 through Section 5.23, inclusive, as
         stated on Schedule 5 attached hereto. Capitalized terms used in
         Schedule 5 shall have the meanings ascribed to such terms in Schedule
         5. For the avoidance of doubt, all covenants previously incorporated by
         reference to the 1999 Credit Agreement are hereby deleted in their
         entirety.

ss.6     The Existing Note Agreements are hereby amended by inserting a new
         Section 5.24, a new Section 5.25, and a new Section 5.26 to read as
         follows:

                  "5.24 RATING REQUIREMENT.

                  The Company shall not permit a rating from the Rating Agency
         for the High-Yield Notes to become effective on any day unless on or
         before such day, the Company, at its sole cost and expense, has
         obtained a rating from a Rating Agency for the Notes."

                  "5.25 MOST FAVORED LENDER.

                  If at any time and from time to time after June 30, 2001, the
         Company enters into, assumes or otherwise becomes bound or obligated
         under, or agrees to the modification of, one or more covenants

                                  Exhibit A-5
<PAGE>

         or events of default contained in any agreement or instrument of the
         Company providing for the incurrence of Indebtedness equal to or
         exceeding the principal amount of $10,000,000 (including, without
         limitation, the 1999 Credit Agreement) (each, a "MATERIAL DEBT
         DOCUMENT") that is more favorable to the lender or lenders under such
         Material Debt Document than are the terms of this Agreement to the
         holders of the Notes, this Agreement shall, without any further action
         on the part of the Company or any of the holders of the Notes, be
         deemed to be amended automatically to include each such more favorable
         covenant, event of default, term or provision. No modification or
         amendment of any Material Debt Document that results in any covenant,
         event of default, or other material term or provision becoming less
         restrictive on the Company shall be effective as a modification,
         amendment or waiver under this Agreement. The Company further covenants
         to promptly execute and deliver at its expense (including, without
         limitation, the fees and expenses of counsel for the holders of the
         Notes) an amendment to this Agreement in form and substance
         satisfactory to the holders of the Notes to reflect such amendment,
         provided that the execution and delivery of such amendment shall not be
         a precondition to the effectiveness of such amendment as provided for
         in this Section 5.25."

                  "5.26 COVENANT TO SECURE NOTES RATABLY.

                  (a)      The Company covenants that if it or any Subsidiary
         shall create or assume any Lien upon any of its property or assets,
         whether now owned or hereafter acquired, other than Liens permitted by
         the provisions of this Agreement (including, without limitation, Liens
         created or assumed to secure Indebtedness under any Receivables
         Purchase Document or any Permitted Sale Leaseback) (unless waived or
         prior written consent to the creation or assumption thereof shall have
         been obtained pursuant to Section 7.1), it will make or cause to be
         made effective provision satisfactory in form and substance to
         Prudential whereby the Notes will be secured by such Lien equally and
         ratably with any and all other Indebtedness thereby secured so long as
         any such other Indebtedness shall be so secured.

                  (b)      The Company covenants that if any Subsidiary
         guaranties any Indebtedness of the Company or any Subsidiary, it will
         simultaneously cause such Subsidiary to guaranty the Notes equally and
         ratably with all Indebtedness guarantied by such Subsidiary for so long
         as such Indebtedness is guarantied and pursuant to documentation in
         form and substance reasonably satisfactory to the holders of Notes.

                                  Exhibit A-6
<PAGE>

                  (c)      The Company covenants that if it or any Person (other
         than the Company or a Subsidiary) guaranties or provides collateral in
         any manner for any Indebtedness of the Company or any Subsidiary, it
         will simultaneously cause such Person to guaranty or provide such
         collateral for the Notes equally and ratably with all Indebtedness
         guarantied or secured by such Person for so long as such Indebtedness
         is guarantied and pursuant to documentation in form and substance
         reasonably satisfactory to the holders of Notes."

ss.7     Section 6.1(d) and Section 6.1(e) of each Existing Note Agreement are
         hereby amended and restated to read in their entirety as follows:

                  "(d)     Default shall occur in the observance or performance
         of any covenant or agreement contained in Sections 5.1(e), 5.2(ii), 5.3
         through 5.6, inclusive, Section 5.15, Section 5.17 or Sections 5.20
         through 5.26, inclusive; or

                  (e)      Default shall occur in the observance or performance
         of any covenant or agreement contained in Sections 5.16 and 5.18 and
         such default shall continue for more than ten days; or"

ss.8     Section 6.1 of each Existing Note Agreement is hereby amended by
         deleting the "." at the end of clause (m) therein and substituting
         therefor "; or" and adding the following new clause (n) to the end of
         such Section 6.1 to read as follows:

                  "(n)     event of default under (and as defined in) the 1999
         Credit Agreement shall occur or exist."

ss.9     Section 8.1 of each Existing Note Agreement is hereby amended by
         inserting the following definitions in their alphabetical order:

                  "Adjusted Consolidated EBITDA" shall mean Consolidated EBITDA
         except that clause (i) thereof shall be deemed to provide as follows:
         "(i) Consolidated EBIT determined without any deduction for a charge to
         earnings attributable to doubtful accounts."

                  "Adjusted Debt/EBITDA Ratio" shall mean the Debt/EBITDA Ratio
         except that clause (ii) thereof shall be deemed to provide as follows:
         "(ii) Adjusted Consolidated EBITDA."

                  "Adjusted Debt Service Coverage Ratio" shall mean the Debt
         Service Coverage Ratio except that the reference in clause (a) thereof
         to "Consolidated EBITDA" shall be deemed to be a reference to "Adjusted
         Consolidated EBITDA."

                                  Exhibit A-7
<PAGE>

                  "Amendment No. 9 Effective Date" shall mean January 31, 2002.

                  "Applicable Rate" shall have the meaning set forth in
         ss.2.8(a).

                  "Investment Grade Rating" shall mean a rating of at least (a)
         "BBB-" from S&P, (b) "Baa3" from Moody's or (c) "BBB-" from Fitch.

                  "Material Debt Document" shall have the meaning set forth in
         ss.5.25.

                  "Open Quarter" shall have the meaning set forth in ss.2.8(d).

                  "Rating Agency" shall mean any of (a) Standard & Poor's
         Corporation ("S&P"), (b) Moody's Investors Service ("Moody's") or (c)
         Duff & Phelps Credit Rating Co./Fitch Investors Service, L.P. ("Fitch")
         (including each of their respective successors and assigns).

ss.10    The definition of "Make-Whole Amount" in Section 8.1 of each Existing
         Note Agreement is hereby amended and restated in its entirety to read
         as follows:

                  "Make-Whole Amount" shall mean, with respect to any Note, an
         amount equal to the excess, if any, of the Discounted Value of the
         Called Principal of such Note over the sum of (i) such Called Principal
         plus (ii) interest accrued thereon as of (including interest due on)
         the Settlement Date with respect to such Called Principal. Solely with
         respect to the calculation of interest in clause (ii) of this
         definition of "Make-Whole Amount," interest shall accrue on the Notes
         for all dates at the rate set forth in ss.2.8(a)(i) only. The
         Make-Whole Amount shall in no event be less than zero."

ss.11    The definition of "1999 Credit Agreement" in Section 8.1 of each
         Existing Note Agreement is hereby amended and restated in its entirety
         to read as follows:

                  "1999 Credit Agreement" shall mean the $250,000,000 Amended
         and Restated Credit Agreement dated as of January 31, 2002 among the
         Company, Russell Europe, Wachovia Bank, N.A., as Administrative Agent,
         and the various other parties listed thereon, as amended from time to
         time (except as otherwise indicated herein)."

ss.12    Clause (b)(i) of the definition of "Overdue Rate" in Section 8.1 of
         each Existing Note Agreement is hereby amended and restated in its
         entirety to read as follows: "(i) 2% per annum plus the Applicable Rate
         then in effect or."

                                  Exhibit A-8
<PAGE>

ss.13    The definition of "Russell Europe" in Section 8.1 of each Existing Note
         Agreement is hereby amended and restated in its entirety to read as
         follows:

                  "Russell Europe" shall mean Russell Europe Limited, organized
         in the United Kingdom.

ss.14    The 1995 Senior Notes outstanding on the Amendment No. 9 Effective Date
         are hereby, without any further action required on the part of any
         other Person, deemed to be automatically amended to conform to and have
         the terms provided in Exhibit A-1 attached hereto (except that the
         principal amount and the payee of each Note shall remain unchanged).
         Any 1995 Senior Note issued on or after the Amendment No. 9 Effective
         Date shall be in the form of Exhibit A-1 attached hereto.

ss.15    The 1997 Senior Notes outstanding on the Amendment No. 9 Effective Date
         are hereby, without any further action required on the part of any
         other Person, deemed to be automatically amended to conform to and have
         the terms provided in Exhibit A-2 attached hereto (except that the
         principal amount and the payee of each Note shall remain unchanged).
         Any 1997 Senior Note issued on or after the Amendment No. 9 Effective
         Date shall be in the form of Exhibit A-2 attached hereto.

                                  Exhibit A-9
<PAGE>

                                 Schedule 2.8(b)

                           Adjusted Debt/EBITDA Ratio

<TABLE>
<CAPTION>

                  -------------------------------------------------------------------------
                         Fiscal Quarter Ending                        Ratio
                  -------------------------------------------------------------------------
                  <S>                                   <C>
                               2002 FQ2                               3.00x
                  -------------------------------------------------------------------------
                                  FQ3                                 3.00x
                  -------------------------------------------------------------------------
                                  FQ4                                 2.50x

                  -------------------------------------------------------------------------
                               2003 FQ1                               2.75x
                  -------------------------------------------------------------------------
                                  FQ2                                 3.00x
                  -------------------------------------------------------------------------
                                  FQ3                                 2.75x
                  -------------------------------------------------------------------------
                                  FQ4                                 2.50x

                  -------------------------------------------------------------------------
                               2004 FQ1                               2.75x
                  -------------------------------------------------------------------------
                                  FQ2                                 3.00x
                  -------------------------------------------------------------------------
                                  FQ3                                 2.75x
                  -------------------------------------------------------------------------
                                  FQ4                                 2.50x
                            and thereafter
                  -------------------------------------------------------------------------

</TABLE>

                                   Exhibit A-1
<PAGE>

                                   SCHEDULE 5

                  SCHEDULE OF COVENANTS AND RELATED DEFINITIONS

         Section  5. Company Covenants.

         5A.      Definitions. The terms as defined in this Section 5 shall, for
all purposes of this Agreement and any amendment hereto (except as herein
otherwise expressly provided or unless the context otherwise requires), have the
meanings set forth herein. Any capitalized terms used and not defined in this
Section 5 have the respective meanings ascribed thereto in the 1999 Credit
Agreement as in effect on the Amendment No. 9 Effective Date or in Section 8.1
of this Agreement.

                  "Administrative Agent" means Wachovia Bank, N.A., a national
         banking association organized under the laws of the United States of
         America, in its capacity as agent for the Banks, and its successors and
         permitted assigns in such capacity.

                  "Affiliate" of any relevant Person means (i) any Person that
         directly, or indirectly through one or more intermediaries, controls
         the relevant Person (a "Controlling Person"), (ii) any Person (other
         than the relevant Person or a Subsidiary of the relevant Person) which
         is controlled by or is under common control with a Controlling Person,
         or (iii) any Person (other than a Subsidiary of the relevant Person) of
         which the relevant Person owns, directly or indirectly, 20% or more of
         the common stock or equivalent equity interests. As used herein, the
         term "control" means possession, directly or indirectly, of the power
         to direct or cause the direction of the management or policies of a
         Person, whether through the ownership of voting securities, by contract
         or otherwise.

                  "Amendment No. 9" means the Amendment No. 9 dated as of
         January 31, 2002 between the Company and The Prudential Insurance
         Company of America.

                  "Bank" means each bank listed on the signature pages to the
         1999 Credit Agreement, and its successors and permitted assigns.

                  "Base Rate" means for any Base Rate Loan for any day, the rate
         per annum equal to the higher as of such day of (i) the Prime Rate, or
         (ii) one-half of one percent above the Federal Funds Rate. For purposes
         of determining the Base Rate for any day, changes in the Prime Rate or
         the Federal Funds Rate shall be effective on the date of each such
         change.

                  "Base Rate Loan" means a Loan which bears or is to bear
         interest at a rate based upon the Base Rate, and is to be made as a
         Base Rate Loan

                                  Exhibit A-1
<PAGE>

         pursuant to the applicable Notice of Borrowing, Notice of Continuation
         or Conversion, or pursuant to section 2.02(f), or Article VIII, of the
         1999 Credit Agreement, as applicable.

                  "Borrowing" means a borrowing hereunder consisting of Loans
         made to the Company (i) at the same time by all of the Banks, in the
         case of a Syndicated Borrowing or (ii) by Wachovia, for Swing Loans. A
         Borrowing is a "Syndicated Borrowing" if such Loans are made pursuant
         to section 2.01(a) of the 1999 Credit Agreement or a "Swing Loan
         Borrowing" if such Loan is made pursuant to section 2.01(b) of the 1999
         Credit Agreement. A Borrowing is a "Euro-Dollar Borrowing" if such
         Loans are Euro-Dollar Loans, or a "Base Rate Borrowing" if such Loans
         are Base Rate Loans, or a "Transaction Rate Borrowing" if such Loans
         are Transaction Rate Loans. A Borrowing is a "Dollar Borrowing" if such
         Loans are Base Rate Loans or Euro-Dollar Loans. A Borrowing is a
         "Foreign Currency Borrowing" if such Loans are Foreign Currency Loans.

                  "Capital Expenditures", for any period, with respect to any
         Person, the aggregate of all expenditures by such Person for the
         acquisition or leasing (pursuant to a capital or synthetic lease) of
         fixed or capital assets or additions to equipment (including
         replacements, capitalized repairs and improvements during such period
         and including incremental increases to existing capital leases and
         synthetic leases during such period) which are required to be
         capitalized under GAAP on a balance sheet of such Person.

                  "Capital Stock" means any and all shares, interests,
         participations or other equivalents (however designated) of capital
         stock of a corporation, any and all equivalent ownership interests in a
         Person (other than a corporation), and any and all warrants, rights or
         options to purchase any of the foregoing.

                  "CERCLA" means the Comprehensive Environmental Response
         Compensation and Liability Act, 42 U.S.C.ss. 9601 et. seq. and its
         implementing regulations and amendments.

                  "CERCLIS" means the Comprehensive Environmental Response
         Compensation and Liability Inventory System established pursuant to
         CERCLA.

                  "Chase" means JPMorgan Chase Bank (successor to The Chase
         Manhattan Bank).

                  "Code" means the Internal Revenue Code of 1986, as amended, or
         any successor Federal tax code.

                                  Exhibit A-2
<PAGE>

                  "Collateral Agent" means Wachovia Bank, N.A., in its capacity
         as collateral agent under the Intercreditor Agreement and the other
         Security Documents, together with its successors in such capacity.

                  "Collateral Agent Fee Letter" means the Letter Agreement,
         dated as of December 14, 2001, between the Company and the Collateral
         Agent.

                  "Commitment" means, with respect to each Bank, (i) the amount
         set forth opposite the name of such Bank on the signature pages hereof,
         and (ii) as to any Bank which enters into any Assignment and Acceptance
         (whether as transferor Bank or as Assignee thereunder), the amount of
         such Bank's Commitment after giving effect to such Assignment and
         Acceptance, in each case as such amount may be reduced from time to
         time pursuant to sections 2.09 and 2.10 of the 1999 Credit Agreement.

                  "Company" means (i) Russell Corporation, an Alabama (or, if
         subsequently applicable, a Delaware) corporation, and its successors
         and its permitted assigns and, (ii) only in connection with Foreign
         Currency Borrowings and Foreign Currency Loans, means either or both,
         as the context shall require, of the Company and Russell Europe, it
         being understood and agreed that either the Company or Russell Europe,
         or both of them (as to different Foreign Currency Borrowings), may
         borrow Foreign Currency Loans within the limits set forth in section
         2.01(a) of the 1999 Credit Agreement, but Russell Europe shall have
         liability only for Foreign Currency Loans borrowed by it, and shall
         have no liability on any Foreign Currency Loans, Syndicated Dollar
         Loans or Swing Loans made to the Company.

                  "Compliance Certificate" has the meaning set forth in Section
         5.1(c).

                  "Consolidated EBIT" means at any time the sum of the
         following, determined on a consolidated basis for the Company and its
         Consolidated Subsidiaries, at the end of each Fiscal Quarter, for the
         Fiscal Quarter just ended and the 3 immediately preceding Fiscal
         Quarters: (i) Consolidated Net Income; plus (ii) Consolidated Interest
         Expense; plus (iii) taxes on income; plus (iv) all Restructuring
         Charges.

                  "Consolidated EBITDA" means at any time the sum of the
         following, determined on a consolidated basis for the Company and its
         Consolidated Subsidiaries, at the end of each Fiscal Quarter, for the
         Fiscal Quarter just ended and the 3 immediately preceding Fiscal
         Quarters (and with respect to any acquisition which is made during such
         four Fiscal Quarter Period, the Consolidated Subsidiary acquired in
         such acquisition shall be included as if it had been a Consolidated
         Subsidiary prior to the commencement of such four

                                  Exhibit A-3
<PAGE>

         Fiscal Quarter Period): (i) Consolidated EBIT; plus (ii) depreciation;
         plus (iii) amortization; plus (iv) other non-cash charges without
         duplication of Restructuring Charges, minus (v) all cash payments
         during such period relating to non-cash charges which were added back
         in the determination of Consolidated EBITDA in any prior period.

                  "Consolidated Fixed Charges" means, for any period, the sum
         (without duplication) of (a) Consolidated Interest Expense for such
         period, (b) provision for cash income and franchise taxes made by the
         Company or any of its Subsidiaries on a consolidated basis in respect
         of such period, (c) scheduled payments made during such period on
         account of principal of Debt of the Company or any of its Subsidiaries
         and (d) Restricted Payments paid by the Company or any Consolidated
         Subsidiary in cash during such period in respect of Capital Stock of
         the Company other than Restricted Payments paid by a Consolidated
         Subsidiary to the Company or another Consolidated Subsidiary.

                  "Consolidated Interest Expense" for any period means interest,
         whether expensed or capitalized (but in the case of capitalization,
         limited to the portion of capitalized interest allocable to such
         period), in respect of Debt of the Company or any of its Consolidated
         Subsidiaries outstanding during such period determined on a
         consolidated basis in accordance with GAAP (provided that if any
         Consolidated Subsidiary was acquired during such period, Consolidated
         Interest Expense shall be adjusted to take into account the interest
         expense of such Consolidated Subsidiary assuming for such purposes that
         (a) such Consolidated Subsidiary was acquired prior to the commencement
         of such period and (b) that the Debt of such acquired Consolidated
         Subsidiary accrued interest as if such Debt was outstanding under the
         1999 Credit Agreement).

                  "Consolidated Net Income" means, for any period, the Net
         Income of the Company and its Consolidated Subsidiaries determined on a
         consolidated basis, but excluding (i) extraordinary items and (ii) any
         equity interests of the Company or any Consolidated Subsidiary in the
         unremitted earnings or losses of any Person that is not a Consolidated
         Subsidiary during such period.

                  "Consolidated Net Worth" means, at any time, the shareholders'
         equity of the Company and its Consolidated Subsidiaries, as set forth
         or reflected on the most recent consolidated balance sheet of the
         Company and its Consolidated Subsidiaries prepared in accordance with
         GAAP, but excluding any Redeemable Preferred Stock of the Company or
         any of its Consolidated Subsidiaries. Shareholders' equity generally
         would include, but not be limited to (i) the par or stated value of all
         outstanding Capital Stock, (ii) capital surplus, and (iii) retained
         earnings, and there would be deducted in

                                  Exhibit A-4
<PAGE>

         the determination thereof, among other things, various deductions such
         as (A) purchases of treasury stock, (B) valuation allowances, (C)
         receivables due from an employee stock ownership plan, (D) employee
         stock ownership plan debt guarantees, and (E) translation adjustments
         for foreign currency transactions.

                  "Consolidated Subsidiary" means at any date any Subsidiary or
         other entity the accounts of which, in accordance with GAAP, would be
         consolidated with those of the Company in its consolidated financial
         statements as of such date.

                  "Consolidated Total Debt" means, at any date, without
         duplication, the sum of (a) all Debt of the Company and its
         Consolidated Subsidiaries at such date which would, in conformity with
         GAAP, be included on the consolidated balance sheet of the Company and
         its Consolidated Subsidiaries, plus, without duplication, all Debt of
         Elcatex Guaranteed by the Company or any of its Consolidated
         Subsidiaries.

                  "Controlled Group" means all members of a controlled group of
         corporations and all trades or businesses (whether or not incorporated)
         under common control which, together with the Company, are treated as a
         single employer under section 414 of the Code.

                  "Debt" of any Person means at any date, without duplication,
         (i) all obligations of such Person for borrowed money (including,
         without limitation the principal balance outstanding under any
         synthetic lease, tax retention operating lease, off-balance sheet loan
         or similar off-balance financing product where such transaction is
         considered borrowed money indebtedness for tax purposes but is
         classified as an operating lease in accordance with GAAP), (ii) all
         obligations of such Person evidenced by bonds, debentures, notes or
         other similar instruments, (iii) all obligations of such Person to pay
         the deferred purchase price of property or services, except trade
         accounts payable arising in the ordinary course of business, (iv) all
         obligations of such Person as lessee under capital leases, (v) all
         obligations of such Person to reimburse any bank or other Person in
         respect of amounts payable under a banker's acceptance, (vi) all
         Redeemable Preferred Stock of such Person (in the event such Person is
         a corporation), (vii) all obligations of such Person to reimburse any
         bank or other Person in respect of amounts paid or to be paid under a
         letter of credit or similar instrument (whether drawn or undrawn),
         (viii) all Debt of others secured by a Lien on any asset of such
         Person, whether or not such Debt is assumed by such Person, (ix) all
         net obligations of such Person with respect to interest rate protection
         agreements, foreign currency exchange agreements or other hedging
         arrangements (valued as the termination value thereof computed in
         accordance with a method approved

                                  Exhibit A-5
<PAGE>

         by the International Swap Dealers Association and agreed to by such
         Person in the applicable hedging agreement, if any) and (x) all Debt of
         others Guaranteed by such Person (including, without limitation, the
         Debt of any partnership or unincorporated joint venture in which such
         Person is a general partner or a joint venturer, other than
         non-recourse Debt of such partnership or unincorporated joint venture).

                  "Debt/EBITDA Ratio" means at any time the ratio of (i)
         Consolidated Total Debt to (ii) Consolidated EBITDA.

                  "Debt Service Coverage Ratio" for any period of four
         consecutive Fiscal Quarters, the ratio of (a) Consolidated EBITDA for
         such period to (b) the sum of (i) Consolidated Interest Expense for
         such period and (ii) the aggregate amount of payments on account of
         principal of Debt of the Company or any of its Subsidiaries scheduled
         to be made during the four consecutive Fiscal Quarters immediately
         succeeding such period.

                  "Default" means any condition or event which constitutes an
         Event of Default or which with the giving of notice or lapse of time or
         both would, unless cured or waived, become an Event of Default.

                  "Disposition", with respect to any property, means any sale,
         lease, sale and leaseback, assignment, conveyance, transfer or other
         disposition thereof. The terms "Dispose" and "Disposed of" shall have
         correlative meanings.

                  "Dollars" or "$" means dollars in lawful currency of the
         United States of America.

                  "Dollar Equivalent" means the Dollar equivalent of the amount
         of a Foreign Currency Loan, determined by the Administrative Agent on
         the basis of its spot rate for the purchase of the appropriate Foreign
         Currency with Dollars.

                  "Domestic Business Day" means any day except a Saturday,
         Sunday or other day on which commercial Banks in Georgia are authorized
         by law to close.

                  "Elcatex" means Elasticos Centroamericanos Textiles, S.A. de
         C.V.

                  "Environmental Authority" means any foreign, federal, state,
         local or regional government that exercises any form of jurisdiction or
         authority under any Environmental Requirement.

                  "Environmental Authorizations" means all licenses, permits,
         orders, approvals, notices, registrations or other legal prerequisites
         for conducting

                                  Exhibit A-6
<PAGE>

         the business of the Company or any Subsidiary required by any
         Environmental Requirement.

                  "Environmental Judgments and Orders" means all judgments,
         decrees or orders arising from any Environmental Requirements, whether
         or not entered upon consent, or written agreements with an
         Environmental Authority or other entity arising from or in any way
         associated with any Environmental Requirement, whether or not
         incorporated in a judgment, decree or order.

                  "Environmental Liabilities" means any liabilities, whether
         accrued, contingent or otherwise, arising from and in any way
         associated with any Environmental Requirements.

                  "Environmental Notices" means notice from any Environmental
         Authority or by any other person or entity, of possible or alleged
         noncompliance with or liability under any Environmental Requirement,
         including without limitation any complaints, citations, demands or
         requests from any Environmental Authority or from any other person or
         entity for correction of any violation of any Environmental Requirement
         or any investigations concerning any violation of any Environmental
         Requirement.

                  "Environmental Proceedings" means any judicial or
         administrative proceedings arising from or in any way associated with
         any Environmental Requirement.

                  "Environmental Releases" means releases as defined in CERCLA
         or under any applicable state or local environmental law or regulation.

                  "Environmental Requirements" means any legal requirement
         relating to health, safety or the environment and applicable to the
         Company, any Subsidiary or the Properties under CERCLA or similar state
         legislation and all federal, state and local laws, ordinances,
         regulations, orders, writs, decrees and common law.

                  "ERISA" means the Employee Retirement Income Security Act of
         1974, as amended from time to time, or any successor law. Any reference
         to any provision of ERISA shall also be deemed to be a reference to any
         successor provision or provisions thereof.

                  "Euro-Dollar Loan" means a Loan which bears or is to bear
         interest at a rate based upon the Adjusted London Interbank Offered
         Rate, and to be made as a Euro-Dollar Loan pursuant to the applicable
         Notice of Borrowing or Notice of Continuation or Conversion.

                                  Exhibit A-7
<PAGE>

                  "Event of Default" has the meaning set forth in Section 6.1 of
         this Agreement.

                  "Federal Funds Rate" means, for any day, the rate per annum
         (rounded upward, if necessary, to the next higher 1/100th of 1%) equal
         to the weighted average of the rates on overnight Federal funds
         transactions with members of the Federal Reserve System arranged by
         Federal funds brokers on such day, as published by the Federal Reserve
         Bank of New York on the Domestic Business Day next succeeding such day,
         provided that (i) if the day for which such rate is to be determined is
         not a Domestic Business Day, the Federal Funds Rate for such day shall
         be such rate on such transactions on the next preceding Domestic
         Business Day as so published on the next succeeding Domestic Business
         Day, and (ii) if such rate is not so published for any day, the Federal
         Funds Rate for such day shall be the average rate charged to the
         Administrative Agent on such day on such transactions, as reasonably
         determined by the Administrative Agent.

                  "Financing Documents" means this Agreement, the Notes, the
         Security Documents, any other document evidencing, relating to or
         securing the Notes delivered by or on behalf of the Company, and any
         other document or instrument delivered by or on behalf of the Company
         from time to time in connection with this Agreement, the Security
         Documents or the Notes, as such documents and instruments may be
         amended or supplemented from time to time.

                  "Fiscal Quarter" means any fiscal quarter of the Company.

                  "Fiscal Year" means any fiscal year of the Company.

                  "Fixed Charge Coverage Ratio" means, for any period, the ratio
         of (a) Consolidated EBITDA for such period less the aggregate amount
         actually paid by the Company and its Consolidated Subsidiaries during
         such period on account of Capital Expenditures to (b) Consolidated
         Fixed Charges for such period.

                  "Fixed Rate Loans" means Euro-Dollar Loans, Foreign Currency
         Loans or Transaction Rate Loans, or any one, or more, or all of them,
         as the context shall require.

                  "Foreign Currency Borrowing" has the meaning set forth in the
         definition of "Borrowing."

                  "Foreign Currency Loan" means a Loan to be made as a Foreign
         Currency Loan pursuant to the applicable Notice of Borrowing, and such

                                  Exhibit A-8
<PAGE>

         term shall include, individually and collectively, as the context shall
         require, such Loans to the Company and to Russell Europe.

                  "Foreign Currency Loan Notes" means promissory notes of the
         Company, substantially in the form of Exhibit A-4 to the 1999 Credit
         Agreement, as to the Company, and Exhibit A-5 to the 1999 Credit
         Agreement, as to Russell Europe, evidencing the obligation of the
         Company to repay the Foreign Currency Loans, together with all
         amendments, consolidations, modifications, renewals and supplements
         thereto.

                  "FQ1," "FQ2," "FQ3," and "FQ4": when used with a numerical
         year designation, means the first, second, third or fourth Fiscal
         Quarters, respectively, of such Fiscal Year of the Company (e.g., FQ2
         2001 means the second fiscal quarter of the Company's 2001 Fiscal Year,
         which Fiscal Quarter ends July 1, 2001).

                  "GAAP" means generally accepted accounting principles applied
         on a basis consistent with those which, in accordance with Section 5.2,
         are to be used in making the calculations for purposes of determining
         compliance with the terms of this Agreement.

                  "Guarantee" by any Person means any obligation, contingent or
         otherwise, of such Person directly or indirectly guaranteeing any Debt
         or other obligation of any other Person and, without limiting the
         generality of the foregoing, any obligation, direct or indirect,
         contingent or otherwise, of such Person (i) to secure, purchase or pay,
         or advance or supply funds for the purchase or payment of, such Debt or
         other obligation, whether arising by virtue of partnership arrangements
         (including, without limitation, arising solely by virtue of the status
         of being a general partner in a partnership or participating as a joint
         venturer in a joint venture), by agreement to keep-well, to purchase
         assets, goods, securities or services, to provide collateral security,
         to take-or-pay, or to maintain financial statement conditions or
         otherwise, or (ii) entered into for the purpose of assuring in any
         other manner the obligee of such Debt or other obligation of the
         payment thereof or to protect such obligee against loss in respect
         thereof (in whole or in part), provided that the term Guarantee shall
         not include endorsements for collection or deposit in the ordinary
         course of business. The term "Guarantee" used as a verb has a
         corresponding meaning.

                  "Guarantee and Collateral Agreement" means the Guarantee and
         Collateral Agreement made by the Company and certain of its
         Subsidiaries in favor of Collateral Agent, dated as of December 14,
         2001.

                                  Exhibit A-9
<PAGE>

                  "Guaranty" means the Guaranty Agreement, dated as of October
         15, 1999, attached as Exhibit L to the 1999 Credit Agreement, executed
         by the Company, unconditionally Guaranteeing payment of the Foreign
         Currency Loans made to and the Foreign Currency Loan Note made by
         Russell Europe.

                  "Hazardous Materials" includes, without limitation, (a) solid
         or hazardous waste, as defined in the Resource Conservation and
         Recovery Act of 1980, 42 U.S.C. ss. 6901 et seq. and its implementing
         regulations and amendments, or in any applicable state or local law or
         regulation, (b) "hazardous substance", "pollutant", or "contaminant" as
         defined in CERCLA, or in any applicable state or local law or
         regulation, (c) gasoline, or any other petroleum product or by-product,
         including, crude oil or any fraction thereof, (d) toxic substances, as
         defined in the Toxic Substances Control Act of 1976, or in any
         applicable state or local law or regulation and (e) insecticides,
         fungicides, or rodenticides, as defined in the Federal Insecticide,
         Fungicide, and Rodenticide Act of 1975, or in any applicable state or
         local law or regulation, as each such Act, statute or regulation may be
         amended from time to time.

                  "High-Yield Notes" shall have the meaning set forth in section
         5.17(n).

                  "Intercompany Receivables Agreements" shall mean,
         collectively, (i) the Amended and Restated Receivables Purchase and
         Sale Agreement dated as of August 3, 2001 by and between Russell
         Financial and the Company, (ii) the Amended and Restated Receivables
         Purchase and Sale Agreement dated as of August 3, 2001 by and between
         Russell Financial and Desoto Mills, Inc. and (iii) the Amended and
         Restated Receivables Purchase and Sale Agreement dated as of August 3,
         2001 by and between Russell Financial and Cross Creek Apparel, LLC, in
         each case as originally executed or as such agreement may be from time
         to time supplemented, amended, renewed or extended.

                  "Intercreditor Agreement" means the Intercreditor and Agency
         Agreement among Collateral Agent and Secured Parties, dated as of
         December 14, 2001.

                  "Investment" means any investment in any Person, whether by
         means of (i) purchase or acquisition of all or substantially all of the
         assets of such Person (or of a division or line of business of such
         Person), including, without limitation, any Permitted Acquisition, (ii)
         purchase or acquisition of obligations or securities of such Person,
         including, without limitation, any Permitted Acquisition, (iii) capital
         contribution to such Person, (iv) loan or advance to such Person, (v)
         making of a time deposit with such Person, (vi) Guarantee or assumption
         of any obligation of such Person or (vii) by any other means, but
         excluding (A) trade advances in the ordinary course of the

                                  Exhibit A-10
<PAGE>

         Company's business in accordance with historical practices existing on
         October 15, 1999 and (B) special extensions or renewals of credit made
         in accordance with the Company's credit policies to customers in
         troubled financial condition in order to maximize the Company's
         anticipated recovery or to protect a strategic source of supply or
         market.

                  "Issuing Bank" means First Union National Bank, in its
         capacity as issuer of any Letter of Credit.

                  "L/C Obligations" means, at any time, an amount equal to the
         sum of (a) the aggregate then undrawn and unexpired amount of the then
         outstanding Letters of Credit and (b) the aggregate amount of drawings
         under Letters of Credit that have not then been reimbursed pursuant to
         section 2.15(e) of the 1999 Credit Agreement.

                  "Letters of Credit" means the letters of credit issued
         pursuant to section 2.15 of the 1999 Credit Agreement.

                  "Lien" means, with respect to any asset, any mortgage, deed to
         secure debt, deed of trust, lien, pledge, charge, security interest,
         security title, preferential arrangement which has the practical effect
         of constituting a security interest or encumbrance, or encumbrance or
         servitude of any kind in respect of such asset to secure or assure
         payment of a Debt or a Guarantee, whether by consensual agreement or by
         operation of statute or other law, or by any agreement, contingent or
         otherwise, to provide any of the foregoing. For the purposes of this
         Agreement, the Company or any Subsidiary shall be deemed to own subject
         to a Lien any asset which it has acquired or holds subject to the
         interest of a vendor or lessor under any conditional sale agreement,
         capital lease, synthetic lease or other title retention agreement
         relating to such asset.

                  "Loan" means a Base Rate Loan, Euro-Dollar Loan, Syndicated
         Dollar Loan, Foreign Currency Loan, Swing Loan or Transaction Rate
         Loan, and "Loans" means Base Rate Loans, Euro-Dollar Loans, Syndicated
         Dollar Loans, Foreign Currency Loans, Swing Loans, Transaction Rate
         Loans, or any or all of them, as the context shall require.

                  "Margin Stock" means "margin stock" as defined in Regulations
         T, U or X.

                  "Material Adverse Effect" means, with respect to any event,
         act, condition, occurrence, cost or expenses of whatever nature
         (including any adverse determination in any litigation, arbitration, or
         governmental investigation or proceeding, but not including any event,
         act, condition, occurrence, cost or expense arising out of or relating
         to (i) the case styled

                                  Exhibit A-11
<PAGE>

         Locke, et al. v. Russell Corporation, et al. or (ii) the Restructuring
         Program or the Restructuring Charges), whether singly or in conjunction
         with any other event or events, act or acts, condition or conditions,
         occurrence, occurrences, costs or expenses, whether or not related,
         that causes a material adverse change in, or a material adverse effect
         upon, any of (a) the financial condition, operations, business,
         properties or prospects of the Company and its Consolidated
         Subsidiaries taken as a whole, (b) the rights and remedies of the
         holders of Notes or the Collateral Agent against the Company under any
         of the Financing Documents, or the ability of the Company to perform
         its obligations under the Financing Documents to which it is a party,
         as applicable, or (c) the legality, validity or enforceability of any
         Financing Document against the Company.

                  "Moody's" means Moody's Investors Service.

                  "Mortgage" means a mortgage, deed of trust, deed to secure
         debt, or other agreement executed by the Company or any of its
         Subsidiaries to grant and convey to the Collateral Agent a Lien upon
         any real property of the Company or any of its Subsidiaries.

                  "Multiemployer Plan" shall have the meaning set forth in
         section 4001(a)(3) of ERISA.

                  "Net Income" means, as applied to any Person for any period,
         the aggregate amount of net income of such Person, after taxes, for
         such period, as determined in accordance with GAAP.

                  "PBGC" means the Pension Benefit Guaranty Corporation or any
         entity succeeding to any or all of its functions under ERISA.

                  "Permitted Acquisition" means an acquisition of greater than
         50% of the outstanding voting Capital Stock of a Person (or all or
         substantially all of the assets of a Person or a division or line of
         business of a Person) so long as: (i) the consideration paid by the
         Company or Subsidiary is capital stock of the Company; (ii) the
         proposed acquisition does not reduce Consolidated EBITDA during the
         period of four Fiscal Quarters preceding the effective date of such
         acquisition, determined as if such acquisition had been consummated
         prior to the commencement of such period and using the actual results
         of operations of such Person for such period; (iii) the acquisition
         does not require a cash investment by the Company to support working
         capital or increased projected Capital Expenditures and (iv) after
         giving effect to such acquisition, the Company is in compliance with
         the covenants set forth in Sections 5.20, 5.21 and 5.22 herein on a pro
         forma basis.

                                  Exhibit A-12
<PAGE>

                  "Permitted Sale Leasebacks" shall have the meaning set forth
         in Section 5.5(b).

                  "Person" means an individual, a corporation, a partnership, a
         limited liability company, an unincorporated association, a trust or
         any other entity or organization, including, but not limited to, a
         government or political subdivision or an agency or instrumentality
         thereof.

                  "Plan" means at any time an employee pension benefit plan
         which is covered by Title IV of ERISA or subject to the minimum funding
         standards under section 412 of the Code and is either (i) maintained by
         a member of the Controlled Group for employees of any member of the
         Controlled Group or (ii) maintained pursuant to a collective bargaining
         agreement or any other arrangement under which more than one employer
         makes contributions and to which a member of the Controlled Group is
         then making or accruing an obligation to make contributions or has
         within the preceding 5 plan years made contributions.

                  "Prime Rate" refers to that interest rate so denominated, set
         and published by Wachovia from time to time as an interest rate basis
         for borrowings. The Prime Rate is but one of several interest rate
         bases used by Wachovia. Wachovia lends at interest rates above and
         below the Prime Rate.

                  "Properties" means all real property owned, leased or
         otherwise used or occupied by the Company or any Subsidiary, wherever
         located.

                  "Receivables" means all rights of the Company or its
         Subsidiaries to payment, whether constituting an account, chattel
         paper, instrument, general intangible or otherwise, arising from the
         sale of goods or services (including rights under bill and hold
         arrangements) by the Company or its Subsidiaries (and including the
         right to payment of any interest or finance charges and other
         obligations with respect thereto) and the books and documents related
         thereto.

                  "Receivables Purchase Agreement" means (i) the Accounts
         Receivable Purchase Agreement dated as of January 31, 2002 by and among
         Russell Financial, the Company and SunTrust Bank or (ii) any agreement
         substantially identical to such Accounts Receivable Purchase Agreement,
         but pursuant to which the Company and its relevant Subsidiaries factor
         Receivables directly without first transferring them to Russell
         Financial, together in each case with any bill of sale delivered in
         connection therewith, in each case, as such agreements may be amended,
         restated, modified or otherwise supplemented with the prior written
         consent of the Required Holders (such consent not to be unreasonably
         withheld or delayed).

                                  Exhibit A-13
<PAGE>

                  "Receivables Purchase Documents" means, collectively, the
         Receivables Purchase Agreement, the Intercompany Receivables Purchase
         Agreement and any and all other documents executed or delivered in
         connection with or pursuant to the Receivables Purchase Agreement.

                  "Redeemable Preferred Stock" of any Person means any preferred
         stock issued by such Person which is at any time prior to the maturity
         date stated in the first paragraph of the Note either (i) mandatorily
         redeemable (by sinking fund or similar payments or otherwise) or (ii)
         redeemable at the option of the holder thereof.

                  "Reported Net Income" means, for any period, the Net Income of
         the Company and its Consolidated Subsidiaries determined on a
         consolidated basis.

                  "Required Holders" means at any time holders of Notes having
         at least 51% of the aggregate principal amount of the Notes.

                  "Requirement of Law" means, as to any Person, the Certificate
         of Incorporation and By-Laws or other organizational or governing
         documents of such Person, and any law, treaty, rule or regulation or
         determination of an arbitrator or a court or other Authority, in each
         case applicable to or binding upon such Person or any of its property
         or to which such Person or any of its property is subject.

                  "Restricted Payment" means (i) any dividend or other
         distribution on any shares of the Company's or any Subsidiary's Capital
         Stock (except dividends payable in shares of its Capital Stock) or (ii)
         any payment on account of the purchase, redemption, retirement or
         acquisition by the Company or any of its Subsidiaries of (a) any shares
         of the Company's or such Subsidiary's Capital Stock (except shares
         acquired upon the conversion thereof into other shares of such Capital
         Stock) or (b) any option, warrant or other right to acquire shares of
         the Company's or such Subsidiary's Capital Stock.

                  "Restrictive Agreement" means an agreement (other than any of
         the Financing Documents) that, if and for so long as the Company or any
         Subsidiary is a party thereto, would prohibit, condition or restrict
         the Company's or such Subsidiary's right to incur or repay Debt
         (including any of the Loans); grant Liens upon any of the Company's or
         such Subsidiary's Properties or other assets, whether real or personal;
         declare or make Restricted Payments; amend, modify, extend or renew any
         agreement evidencing Debt (including any of the Financing Documents);
         or repay any

                                  Exhibit A-14
<PAGE>

         Debt owed by the Company to any Subsidiary or by any Subsidiary to the
         Company or another Subsidiary.

                  "Restructuring Charges" means any and all restructuring,
         relocation and other unusual charges incurred in connection with the
         Restructuring Program in Fiscal Years 1998 through 2001, not exceeding
         $357,000,000 on a pre-tax basis or $233,000,000 on an after-tax basis.

                  "Restructuring Program" means the restructuring program and
         related plans, including the establishment of a dual corporate
         headquarters, publicly announced by the Company on July 22, 1998, as
         amended, modified, extended or expanded through the Amendment No. 9
         Effective Date.

                  "Revolving Extensions of Credit" as to any Bank at any time,
         an amount equal to the sum of (a) the aggregate principal amount of all
         Syndicated Dollar Loans and the Dollar Equivalent of the Foreign
         Currency Loans held by such Bank then outstanding, (b) such Bank's
         Revolving Percentage of the L/C Obligations then outstanding and (c)
         such Bank's Revolving Percentage of the aggregate principal amount of
         Swing Loans then outstanding.

                  "Revolving Percentage" as to any Bank at any time, the
         percentage which such Bank's Commitment then constitutes of the Total
         Commitments or, at any time after the Commitments shall have expired or
         terminated, the percentage which the aggregate principal amount of such
         Bank's Syndicated Dollar Loans and Foreign Currency Loans then
         outstanding constitutes of the aggregate principal amount of the
         Syndicated Dollar Loans and Foreign Currency Loans then outstanding,
         provided, that, in the event that the Syndicated Dollar Loans and
         Foreign Currency Loans are paid in full prior to the reduction to zero
         of the Total Revolving Extensions of Credit, the Revolving Percentages
         shall be determined in a manner designed to ensure that the other
         outstanding Revolving Extensions of Credit shall be held by the Banks
         on a comparable basis.

                  "Russell Financial" means Russell Financial Services, Inc., a
         Delaware corporation.

                  "S&P" means Standard & Poor's, a division of The McGraw-Hill
         Companies.

                  "Secured Debt" has the meaning given to such term in the
         Intercreditor Agreement.

                  "Secured Parties" has the meaning given to such term in the
         Intercreditor Agreement.

                                  Exhibit A-15
<PAGE>

                  "Security Documents" means the Intercreditor Agreement,
         Guarantee and Collateral Agreement, the Collateral Agent Fee Letter and
         all other security agreements, Mortgages, collateral assignments, and
         other agreements securing, with the lien granted in favor of Collateral
         Agent, all of the Secured Debt for the benefit of the Secured Parties.

                  "Subsidiary" means any corporation or other entity of which
         securities or other ownership interests having ordinary voting power to
         elect a majority of the board of directors or other persons performing
         similar functions are at the time directly or indirectly owned by the
         Company.

                  "Subsidiary Guarantor" means each Subsidiary of the Company
         that is party to the Guarantee and Collateral Agreement.

                  "Swing Loan" means a Loan made by Wachovia pursuant to section
         2.01(b) of the 1999 Credit Agreement, which must be a Base Rate Loan or
         a Transaction Rate Loan.

                  "Swing Loan Note" means the promissory note of the Company,
         substantially in the form of Exhibit A-2 to the 1999 Credit Agreement,
         evidencing the obligation of the Company to repay the Swing Loans,
         together with all amendments, consolidations, modifications, renewals,
         and supplements thereto.

                  "Syndicated Dollar Loan Notes" means the promissory notes of
         the Company, substantially in the form of Exhibit A-1 to the 1999
         Credit Agreement, evidencing the obligation of the Company to repay the
         Syndicated Dollar Loans, together with all amendments, consolidations,
         modifications, renewals and supplements thereto.

                  "Syndicated Dollar Loans" means Base Rate Loans or Euro-Dollar
         Loans made pursuant to the terms and conditions set forth in section
         2.01 of the 1999 Credit Agreement.

                  "Syndicated Loans" means Syndicated Dollar Loans and Foreign
         Currency Loans.

                  "Taxes" has the meaning set forth in section 2.13(d) of the
         1999 Credit Agreement.

                  "Total Commitments" at any time, the aggregate amount of the
         Commitments then in effect.

                                  Exhibit A-16
<PAGE>

                  "Total Revolving Extensions of Credit" at any time, the
         aggregate amount of the Revolving Extensions of Credit of the Banks
         outstanding at such time.

                  "Transaction Rate Loan" means a Swing Loan to be made as a
         Transaction Rate Loan pursuant to section 2.01(b) of the 1999 Credit
         Agreement.

                  "Unfunded Vested Liabilities" means, with respect to any Plan
         at any time, the amount (if any) by which (i) the present value of all
         vested nonforfeitable benefits under such Plan exceeds (ii) the fair
         market value of all Plan assets allocable to such benefits, all
         determined as of the then most recent valuation date for such Plan, but
         only to the extent that such excess represents a potential liability of
         a member of the Controlled Group to the PBGC or the Plan under Title IV
         of ERISA.

                  "Wachovia" means Wachovia Bank, N.A., a national banking
         association, and its successors.

                  "Wholly Owned Subsidiary" means any Subsidiary all of the
         shares of capital stock or other ownership interests of which (except
         directors' qualifying shares) are at the time directly or indirectly
         owned by the Company.

                  5B.      Covenants. The Company agrees that, so long as any
amount remains unpaid on any Note:

                  SECTION 5.1. INFORMATION. The Company will deliver to each of
the holders of Notes:

                  (a)      as soon as available and in any event within 90 days
after the end of each Fiscal Year, a consolidated balance sheet of the Company
and its Consolidated Subsidiaries as of the end of such Fiscal Year and the
related consolidated statements of income, shareholders' equity and cash flows
for such Fiscal Year, setting forth in each case in comparative form the figures
for the previous Fiscal Year, all certified by Ernst & Young LLP or other
independent public accountants of nationally recognized standing, with such
certification to be free of exceptions and qualifications not acceptable to the
Required Holders;

                  (b)      as soon as available and in any event within 45 days
after the end of each of the first 3 Fiscal Quarters of each Fiscal Year,
commencing with the Fiscal Year beginning on December 31, 2001, a consolidated
balance sheet of the Company and its Consolidated Subsidiaries as of the end of
such Fiscal Quarter and the related statement of income and statement of cash
flows for such Fiscal Quarter and for the portion of the Fiscal Year ended at
the end of such Fiscal Quarter,

                                  Exhibit A-17
<PAGE>

setting forth in each case in comparative form the figures for the corresponding
Fiscal Quarter and the corresponding portion of the previous Fiscal Year, all
certified (subject to normal year-end adjustments) as to fairness of
presentation, GAAP and consistency by the chief financial officer or the chief
accounting officer of the Company;

                  (c)      simultaneously with the delivery of each set of
financial statements referred to in paragraphs (a) and (b) above, a certificate,
substantially in the form of Exhibit F to the 1999 Credit Agreement (as in
effect on the date hereof) (a "COMPLIANCE CERTIFICATE"), of the chief financial
officer or the chief accounting officer of the Company (i) setting forth in
reasonable detail the calculations required to establish whether the Company was
in compliance with the requirements of Sections 5.5, 5.15, 5.16, 5.17, and 5.20
through 5.23, inclusive, on the date of such financial statements and (ii)
stating whether any Default exists on the date of such certificate and, if any
Default then exists, setting forth the details thereof and the action which the
Company is taking or proposes to take with respect thereto;

                  (d)      simultaneously with the delivery of each set of
annual financial statements referred to in paragraph (a) above, a statement of
the firm of independent public accountants which reported on such statements to
the effect that nothing has come to their attention to cause them to believe
that any Default existed on the date of such financial statements;

                  (e)      (i) as soon as available, and in any event no later
than 45 days after the end of each Fiscal Year, the Company's "Annual Business
Plan" for the current Fiscal Year and for the next three Fiscal Years, each
prepared in a manner consistent with past practice and those previously provided
to the holders of Notes and (ii) as soon as available, and in any event no later
than 45 days after the end of each Fiscal Quarter, a quarterly update of the
"Annual Business Plan" for the current Fiscal Year, which, in each case (A)
shall be prepared in a manner consistent with past practice and in a form
consistent with that previously provided to the holders of Notes and (B)
accompanied by a certificate of the chief financial officer or chief accounting
officer of the Company stating that such plan is based on reasonable estimates,
information and assumptions and that such officer has no reason to believe that
such plan is incorrect or misleading in any material respect;

                  (f)      simultaneously with the delivery of each set of
financial statements referred to in paragraph (b) above, an updated business
forecast, in form reasonably acceptable to the Required Holders (detailing
projected changes in financial position and projected income and a description
of the underlying assumptions applicable thereto) and accompanied by a
certificate of the chief financial officer or the chief accounting officer of
the Company stating that such business forecast is based on reasonable
estimates, information and assumptions

                                  Exhibit A-18
<PAGE>

and that such officer has no reason to believe that such business forecast is
incorrect or misleading in any material respect;

                  (g)      within 5 Domestic Business Days after the Company
becomes aware of the occurrence of any Default, a certificate of the chief
financial officer or the chief accounting officer of the Company setting forth
the details thereof and the action which the Company is taking or proposes to
take with respect thereto;

                  (h)      promptly upon the mailing thereof to the shareholders
of the Company generally, copies of all financial statements, reports and proxy
statements so mailed;

                  (i)      promptly upon the filing thereof, copies of all
registration statements (other than the exhibits thereto and any registration
statements on Form S-8 or its equivalent) and annual, quarterly or monthly
reports which the Company shall have filed with the Securities and Exchange
Commission;

                  (j)      if and when any member of the Controlled Group (i)
gives or is required to give notice to the PBGC of any "reportable event" (as
defined in section 4043 of ERISA) with respect to any Plan which might
constitute grounds for a termination of such Plan under Title IV of ERISA, or
knows that the plan administrator of any Plan has given or is required to give
notice of any such reportable event, a copy of the notice of such reportable
event given or required to be given to the PBGC; (ii) receives notice of
complete or partial withdrawal liability under Title IV of ERISA, a copy of such
notice; or (iii) receives notice from the PBGC under Title IV of ERISA of an
intent to terminate or appoint a trustee to administer any Plan, a copy of such
notice; and

                  (k)      from time to time such additional information
regarding the financial position or business of the Company and its Subsidiaries
as any holder of Notes may reasonably request.

                  SECTION 5.2. INSPECTION OF PROPERTY, BOOKS AND RECORDS. The
Company will (i) keep, and cause each Subsidiary to keep, proper books of record
and account in which full, true and correct entries in conformity with GAAP
shall be made of all dealings and transactions in relation to its business and
activities; and (ii) permit, and cause each Subsidiary to permit,
representatives of any holder of Notes at such holder's expense prior to the
occurrence of a Default and at the Company's expense during the existence of a
Default to visit and inspect any of their respective properties, to examine and
make abstracts from any of their respective books and records and to discuss
their respective affairs, finances and accounts with their respective officers,
employees and independent public accountants. The Company agrees to cooperate
and assist in such visits and

                                  Exhibit A-19
<PAGE>
 inspections, in each case upon reasonable notice and at such reasonable times
and as often as may reasonably be desired.

                  SECTION 5.3 MAINTENANCE OF EXISTENCE. The Company shall, and
shall cause each Subsidiary to, maintain its corporate existence (except that it
may become a Delaware corporation) and carry on its business in substantially
the same manner and in substantially the same fields as such business is now
carried on and maintained, except as permitted by Section 5.5.

                  SECTION 5.4 [RESERVED]

                  SECTION 5.5. CONSOLIDATIONS, MERGERS AND SALES OF ASSETS (a)
         The Company shall not, nor shall it permit any Subsidiary to, enter
into any merger, consolidation or amalgamation, or liquidate, wind up or
dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or
substantially all of its property or business, except that (i) any Subsidiary
may be merged or consolidated with or into the Company (provided that the
Company shall be the continuing or surviving corporation) or with or into any
Subsidiary Guarantor other than Russell Europe (provided that the Subsidiary
Guarantor shall be the continuing or surviving corporation); (ii) any Subsidiary
may Dispose of any or all of its assets (x) to the Company or any Subsidiary
Guarantor other than Russell Europe (upon voluntary liquidation or otherwise) or
(y) pursuant to a Disposition permitted by paragraph (b) below; and (iii) any
Investment expressly permitted by Section 5.16 may be structured as a merger,
consolidation or amalgamation.

                  (b)      The Company shall not, nor shall it permit any
Subsidiary to, Dispose of any of its property, whether now owned or hereafter
acquired, or, in the case of any Subsidiary, issue or sell any shares of such
Subsidiary's Capital Stock to any Person, except (i) the Disposition of obsolete
or worn out property in the ordinary course of business; (ii) the sale of
inventory in the ordinary course of business; (iii) the purchase by Russell
Financial, and the sale by the Company and certain of its Subsidiaries, of
Receivables pursuant to the Intercompany Receivables Agreements; (iii)
Dispositions permitted by clause (ii) of paragraph (a) above; (iv) the sale or
issuance of any Subsidiary's Capital Stock to the Company or any Subsidiary
Guarantor other than Russell Europe; (v) Dispositions of Accounts and Related
Assets (as those terms are defined in the Receivables Purchase Agreement) with
an aggregate fair market value not to exceed $50,000,000 pursuant to the
Receivables Purchase Agreement (provided that such Dispositions described in
this clause (v) shall only be permitted between July 1, 2002 and October 31,
2002 and only at any time during which the aggregate outstanding principal
amount of all Syndicated Dollar Loans and Swing Loans of the Banks and the
Dollar Equivalent of the Foreign Currency Loans of the Banks equals or exceeds
$225,000,000 (with the proceeds thereof having been used for the normal ongoing
business and working capital needs of the Company and its Subsidiaries)); (vi)
the sale and leaseback of

                                  Exhibit A-20
<PAGE>

the Company's distribution centers in Columbus, Georgia and Montgomery, Alabama
for sale prices of at least $10,000,000 and $14,000,000, respectively (provided
that such sale and leaseback transactions must close on or prior to May 31, 2002
(the "PERMITTED SALE LEASEBACKS")); and (vii) the sale of assets of the Company
and its Subsidiaries listed on Schedule 5.5 hereof which have been categorized
as "assets held for sale" by the Company; and (viii) the Disposition of other
property having a fair market value not to exceed $5,000,000 in the aggregate
for any Fiscal Year.

                  SECTION 5.6.  [RESERVED]

                  SECTION 5.7. COMPLIANCE WITH LAWS; PAYMENT OF TAXES. The
Company will, and will cause each of its Subsidiaries and each member of the
Controlled Group to, comply with applicable laws (including but not limited to
ERISA), regulations and similar requirements of governmental authorities
(including but not limited to PBGC), except where the necessity of such
compliance is being contested in good faith through appropriate proceedings
diligently pursued. The Company will, and will cause each of its Subsidiaries
to, pay promptly when due all taxes, assessments, governmental charges, claims
for labor, supplies, rent and other obligations which, if unpaid, might become a
Lien against the property of the Company or any Subsidiary, except liabilities
being contested in good faith and against which reserves in conformity with GAAP
with respect thereto have been provided on the books of the Company or the
relevant Subsidiary.

                  SECTION 5.8. INSURANCE. The Company will maintain, and will
cause each of its Subsidiaries to maintain (either in the name of the Company or
in such Subsidiary's own name), with financially sound and reputable insurance
companies, insurance on all its property in at least such amounts and against at
least such risks (including on all its property, and public liability and
worker's compensation) as are usually insured against in the same general area
by companies of established repute engaged in the same or similar business
including, but not limited to, the insuring, at the Company's expense, of all
"assets held for sale" as identified on Schedule 5.5 hereof.

                  SECTION 5.9. CHANGE IN FISCAL YEAR. The Company will not
change its Fiscal Year, and will not permit any Consolidated Subsidiary to have
a fiscal year other than the Fiscal Year, without the prior written consent of
the Required Holders.

                  SECTION 5.10. MAINTENANCE OF PROPERTY. Except as permitted by
Section 5.5 or in connection with the Restructuring Program, the Company shall,
and shall cause each Subsidiary to, maintain all of its properties and assets
(including all "assets held for sale" as identified in Schedule 5.5) in good
condition, repair and working order, ordinary wear and tear excepted.

                                  Exhibit A-21
<PAGE>

                  SECTION 5.11. ENVIRONMENTAL NOTICES. The Company shall furnish
to all holders of Notes prompt written notice of all material Environmental
Liabilities of which the Company has notice, pending, threatened or anticipated
Environmental Proceedings of which the Company has notice, Environmental
Notices, Environmental Judgments and Orders, and Environmental Releases at, on,
in, under or in any way affecting the Properties or any adjacent property, and
all facts, events, or conditions that could lead to any of the foregoing.

                  SECTION 5.12. ENVIRONMENTAL MATTERS. The Company and its
Subsidiaries will not, and will not permit any Third Party to, use, produce,
manufacture, process, treat, recycle, generate, store, dispose of, manage at, or
otherwise handle, or ship or transport to or from the Properties any Hazardous
Materials except for Hazardous Materials used, produced, manufactured,
processed, treated, recycled, generated, stored, disposed, managed, or otherwise
handled in the ordinary course of business in material compliance with all
applicable Environmental Requirements.

                  SECTION 5.13. ENVIRONMENTAL RELEASE. The Company agrees that
upon the occurrence of a material Environmental Release at or on any of the
Properties it will act immediately to investigate the extent of, and to take
appropriate remedial action to eliminate, such Environmental Release, whether or
not ordered or otherwise directed to do so by any Environmental Authority.

                  SECTION 5.14. TRANSACTIONS WITH AFFILIATES. Neither the
Company nor any of its Subsidiaries shall enter into, or be a party to, any
transaction with any Affiliate of the Company or such Subsidiary (which
Affiliate may be Russell Europe but is not the Company or any other Wholly Owned
Subsidiary), except as permitted by law and in the ordinary course of business
and pursuant to reasonable terms which are no less favorable to Company or such
Subsidiary than would be obtained in a comparable arm's length transaction with
a Person which is not an Affiliate, and except for Investments permitted by
Section 5.16.
                  SECTION 5.15. RESTRICTED PAYMENTS. Neither the Company nor any
of its Subsidiaries shall declare or make any Restricted Payment, except that
(i) any Subsidiary may make Restricted Payments to the Company or any Subsidiary
Guarantor (other than Russell Europe) and (ii) so long as no Default or Event of
Default is continuing (before or after giving effect to such Restricted
Payment), the Company may (a) pay dividends with respect to the Capital Stock of
the Company in an amount during any Fiscal Quarter not exceeding $0.04 per share
of the Company's issued and outstanding common Capital Stock, (b) make payments
in the ordinary course of the Company's business in connection with an employee
stock option, bonus, stock purchase or other benefit plans of the Company on
account of (1) the repurchase of the Company's Capital Stock, (2) options,
warrants or other

                                  Exhibit A-22
<PAGE>

rights to acquire shares of the Company's Capital Stock, or (3) other awards
issued or granted under such plans or (c) otherwise repurchase the Company's
Capital Stock so long as at the time of such purchase (and after giving effect
to such purchase), the Fixed Charge Coverage Ratio for the period of four
consecutive Fiscal Quarters then most recently ended is greater than or equal to
1.40 to 1.00.

                  SECTION 5.16. INVESTMENTS. From and after the Amendment No. 9
Effective Date, neither the Company nor any of its Subsidiaries shall make
Investments in any Person except (i) loans or advances to officers, directors
and employees (1) for relocation expenses in connection with the Restructuring
Program and (2) for other purposes not exceeding $3,000,000 in the aggregate
principal amount outstanding at any time, in each case made in the ordinary
course of business in accordance with historical practices existing on the
Amendment No. 9 Effective Date; (ii) deposits required by government agencies or
public utilities (including pertaining to taxes and other similar charges),
(iii) Investments in direct obligations of the United States Government or any
agency thereof maturing within one year after the date of Investment, (iv)
Investments in certificates of deposit issued by a commercial bank whose credit
is satisfactory to the Administrative Agent and in certificates of deposit
issued by any banking subsidiary of Wachovia Corporation, AmSouth
Bancorporation, SunTrust Bank, Inc., Aliant National Corporation, Comerica Bank,
JP Morgan Chase Bank, First Union National Bank or any Person who succeeds to
all, or substantially all, of the assets or business of any thereof, (v)
Investments in commercial paper rated A1 or the equivalent thereof by S&P or P1
or the equivalent thereof by Moody's and in either case maturing within 270 days
after the date of acquisition, (vi) Investments in tender bonds the payment of
the principal of and interest on which is fully supported by a letter of credit
issued by a United States bank whose long-term certificates of deposit are rated
at least AA or the equivalent thereof by S&P and Aa or the equivalent thereof by
Moody's, (vii) Investments in variable rate demand bonds maturing or with
optional puts within one year or less from the date of acquisition thereof,
which, at the time of acquisition by the Company or Subsidiary, are rated not
lower than A or A-1 by S&P and not lower than A2 or P-1 by Moody's, (viii)
intercompany loans by the Company or any Subsidiary (other than Russell Europe)
to the Company or any Subsidiary Guarantor (other than Russell Europe), (ix)
Investments in Frontier Yarns LLC in an aggregate amount not to exceed
$9,900,000 (provided, that any cash Investments made in Frontier Yarns LLC shall
be limited to the proceeds of the Dispositions of the Company's Lafayette and
Gwaltney facilities and the equipment related thereto, (x) the transfer of
certain Receivables pursuant to the Intercompany Receivables Agreements and/or
the Receivables Purchase Agreement to the extent otherwise permitted by this
Agreement; (xi) Permitted Acquisitions; (xii) Guarantees otherwise permitted by
Section 5.17; and (xiii) other Investments (including joint venture and
partnership investments, minority interests and loans to strategic partners)
which do not exceed an aggregate amount of $5,000,000 in any Fiscal Year.

                                  Exhibit A-23
<PAGE>

                  SECTION 5.17. PERMITTED LIENS AND DEBT. The Company will not,
nor will it permit any Consolidated Subsidiary to, create, assume or suffer to
exist any Lien upon any Properties, or other assets, whether real or personal
property, now owned or hereafter acquired by the Company or such Subsidiary or
incur Debt, except as follows:

                  (a)      any Lien or Debt that is in existence on the date
hereof and that is described on Schedule 5.17 and any refinancings, refundings,
renewals or extensions of such Debt (without increasing, or shortening the
maturity of, the principal amount thereof);

                  (b)      any Lien existing on any specific fixed asset of any
Person at the time such Person becomes a Consolidated Subsidiary and not created
in contemplation of such event;

                  (c)      any Lien on any specific fixed asset securing Debt
incurred or assumed for the purpose of financing all or any part of the cost of
acquiring, constructing or improving such asset, provided that such Lien
attaches to such asset concurrently with or within 6 months after the
acquisition, completion, construction or improvement thereof;

                  (d)      any Lien on any specific fixed asset of any Person
existing at the time such Person is merged or consolidated with or into the
Company or a Consolidated Subsidiary and not created in contemplation of such
event;

                  (e)      any Lien existing on any specific fixed asset prior
to the acquisition thereof by the Company or a Consolidated Subsidiary and not
created in contemplation of such acquisition;

                  (f)      any Lien securing Debt owing by any Subsidiary to the
Company or to any Wholly Owned Subsidiary;

                  (g)      any Lien arising out of the refinancing, extension,
renewal or refunding of any Debt secured by any Lien permitted by this Section,
provided that (i) such Debt is not secured by any additional assets, and (ii)
the amount of such Debt secured by any such Lien is not increased;

                  (h)      any statutory Lien (other than a Lien arising under
ERISA or for past due taxes) incidental to the conduct of its business or the
ownership of its assets which (i) does not secure Debt, (ii) if such Lien
attaches to or otherwise affects any of the Collateral, no enforcement or
foreclosure proceedings in respect of such statutory Lien are commenced, and any
indebtedness secured by such Lien is not past due or payable (unless such
indebtedness is being actively contested in good faith and by appropriate
proceedings), and (iii) does not in the aggregate

                                  Exhibit A-24
<PAGE>

materially detract from the value of its assets or materially impair the use
thereof in the operation of its business;

                  (i)      any Lien on Margin Stock;

                  (j)      any Debt incurred under the Financing Documents and
any other Debt secured under the Security Documents as permitted by the terms
thereof;

                  (k)      any Lien created pursuant to the Security Documents;

                  (l)      any Debts and Liens on the Receivables and general
intangibles related thereto pursuant to the Receivables Purchase Agreement (it
being understood however that it is intended by the parties hereto and thereto
that the sale of the Receivables pursuant to the Receivables Purchase Agreement
constitute a true sale of Receivables and not Debt);

                  (m)      Debt of the Company to a Wholly Owned Subsidiary and
Debt of a Consolidated Subsidiary to the Company or another Wholly Owned
Subsidiary;

                  (n)      Debt consisting of senior unsecured or senior
subordinated debt securities of the Company (the "HIGH-YIELD NOTES") in an
aggregate principal amount of not less than $150.0 million and containing terms
that are customary for the U.S. high-yield market issued by a company of
comparable credit quality as the Company provided that (i) the Company shall
determine the manner in which the High-Yield Notes shall be placed, (ii) the
bullet maturity of any High-Yield Notes shall not be earlier than six months
after the final maturity of any of the "Loans", as such term is defined in the
Intercreditor Agreement, and (iii) the application of proceeds of the High-Yield
Notes shall be as agreed between the Company and the Required Holders;

                  (o)      Debt and Liens incurred pursuant to any Permitted
Sale Leaseback;

                  (p)      Other Debt, including capital leases, in an aggregate
amount not to exceed $5,000,000 at any one time outstanding;

                  (q)      Guarantees and other obligations of the Company and
its Subsidiaries under the Receivables Purchase Documents; and

                  (r)      Debt in respect of commercial letters of credit
issued in connection with the purchase of inventory or other goods or services
by the Company and its Subsidiaries in the ordinary course of business;
provided, that the aggregate face amount of all such commercial letters of
credit shall not at any time exceed $10,000,000.

                                  Exhibit A-25
<PAGE>

                  SECTION 5.18. RESTRICTIVE AGREEMENTS. The Company shall not,
nor shall it permit any Subsidiary to, enter into or become a party to any
Restrictive Agreement; provided, however, that the foregoing shall not apply to
(i) Restrictive Agreements existing on the Amendment No. 9 Effective Date and
identified on Schedule 5.18 and any replacement or substitution thereof
otherwise permitted by this Agreement (but shall apply to any amendment,
modification or substitution expanding the scope of any restriction or condition
contained in any such Restrictive Agreement), (ii) restrictions or conditions
imposed by any Restrictive Agreement evidencing or governing secured Debt that
is permitted by this Agreement if such restrictions or conditions apply only to
the Properties securing such Debt, (iii) customary provisions in leases and
other contracts restricting the assignment thereof, (iv) the restrictions on the
granting of Liens contained in the indenture or indentures pursuant to which the
High Yield Notes are issued (provided that the provisions of such indenture or
indentures expressly permit the Liens granted pursuant to the Financing
Documents) and (v) provisions with respect to the disposition or distribution of
assets or property in joint venture agreements and other similar agreements
entered into after the Amendment No. 9 Effective Date in the ordinary course of
business and otherwise permitted under this Agreement (which provisions apply
only to the property subject to such joint venture or similar agreement).

                  SECTION 5.19.  [RESERVED]

                  SECTION 5.20. DEBT/EBITDA RATIO. The Company shall not, on any
date during any Fiscal Quarter set forth below, permit the Debt/EBITDA Ratio to
be greater than the ratio set forth below for such Fiscal Quarter:

<TABLE>
<CAPTION>

                           Fiscal Quarter                                           Ratio
                           --------------                                           -----
                           <S>                                                  <C>
                           FQ 4 2001                                            3.25 to 1.00

                           FQ 1 2002                                            3.65 to 1.00

                           FQ 2 2002                                            3.75 to 1.00

                           FQ 3 2002                                            3.65 to 1.00

                           FQ 4 2002                                            2.65 to 1.00

                           FQ 1 2003                                            3.00 to 1.00

                           FQ 2 2003                                            3.00 to 1.00

</TABLE>

                                  Exhibit A-26
<PAGE>

<TABLE>

                           <S>                                                  <C>
                           FQ 3 2003                                            3.00 to 1.00

                           FQ 4 2003                                            2.50 to 1.00

                           FQ 1 2004                                            2.75 to 1.00

                           FQ 2 2004                                            2.75 to 1.00

                           FQ 3 2004                                            2.75 to 1.00

                           FQ 4 2004                                            2.50 to 1.00

</TABLE>

                  SECTION 5.21. MINIMUM CONSOLIDATED NET WORTH. The Company
shall not permit Consolidated Net Worth at any time to be less than the sum of
(i) $415,000,000, (ii) 50% of Reported Net Income for each Fiscal Quarter
(beginning with the Fiscal Quarter ending March 31, 2002) for which Reported Net
Income is positive, calculated quarterly at the end of each such Fiscal Quarter,
and (iii) 100% of the cumulative net proceeds of Capital Stock received during
any period after the Amendment No. 9 Effective Date, calculated quarterly at the
end of each Fiscal Quarter.

                  SECTION 5.22. DEBT SERVICE COVERAGE RATIO. The Company shall
not permit the Debt Service Coverage Ratio for any period of four consecutive
Fiscal Quarters ending with any Fiscal Quarter set forth below to be less than
the ratio set forth below opposite such Fiscal Quarter:

<TABLE>
<CAPTION>

                           Fiscal Quarter                                           Ratio
                           --------------                                           -----
                           <S>                                                  <C>
                           FQ 4 2001                                            1.60 to 1.00

                           FQ 1 2002                                            1.60 to 1.00

                           FQ 2 2002                                            1.60 to 1.00

                           FQ 3 2002                                            1.90 to 1.00

                           FQ 4 2002                                            1.65 to 1.00

                           FQ 1 2003                                            1.70 to 1.00

                           FQ 2 2003                                            1.75 to 1.00

                           FQ 3 2003                                            1.75 to 1.00

                           FQ 4 2003                                            1.75 to 1.00

                           FQ 1 2004                                            1.75 to 1.00

</TABLE>

                                  Exhibit A-27
<PAGE>

<TABLE>

                           <S>                                                  <C>

                           FQ 2 2004                                            1.75 to 1.00

                           FQ 3 2004                                            1.75 to 1.00

                           FQ 4 2004                                            1.75 to 1.00

</TABLE>

                  SECTION 5.23. CAPITAL EXPENDITURES. Neither the Company nor
any of its Consolidated Subsidiaries shall make or commit to make any Capital
Expenditure, except Capital Expenditures of the Company and its Consolidated
Subsidiaries in the ordinary course of business during the 2002, 2003 and 2004
Fiscal Years not to exceed $40,000,000 in the aggregate during any such Fiscal
Year; provided, that (a) up to $10,000,000 of such amount for any such Fiscal
Year, if not so expended in the Fiscal Year for which it is permitted, may be
carried over for expenditure in the next succeeding Fiscal Year and (b) Capital
Expenditures made pursuant to this Section during any Fiscal Year shall be
deemed made, first, in respect of amounts permitted for such Fiscal Year as
provided above and, second, in respect of amounts carried over from the prior
Fiscal Year pursuant to clause (a) above.

                                  Exhibit A-28
<PAGE>

                                                                    SCHEDULE 5.5
                                                              to Amendment No. 9

<TABLE>
<CAPTION>

                       LOCATION/DESCRIPTION                               ACREAGE/SQ. FOOTAGE
-----------------------------------------------------------------------------------------------------
<S>                                                                       <C>
MARIANNA DISTRIBUTION CENTER                                              259,271 sq. ft./21.5 Acres
MARIANNA, FL

FLOYD, VA FACILITY                                                        50,904 sq. ft./11.51 Acres

ASHLAND, AL FACILITY                                                        29,000 sq. ft./4.5 Acres

COOSA T&E FACILITY                                                           50,350 sq. ft./17 Acres
ALEXANDER CITY, AL

LAFAYETTE, AL FACILITY                                                      81,750 sq. ft./9.9 Acres

SYLACAUGA, AL FACILITY                                                    137,485 sq. ft./12.5 Acres

COOSA #2 PLANT                                                              157,697 sq. ft./20 Acres
ALEXANDER CITY, AL

COOSA #1 PLANT                                                             126,574 sq. ft./ 23 Acres
ALEXANDER CITY, AL

PERSONNEL BUILDING                                                            21,930 sq. ft./5 Acres
ALEXANDER CITY, AL

R&D BUILDING                                                                  42,464 sq. ft./5 Acres
ALEXANDER CITY, AL

MT. AIRY, NC                                                              152,268 sq. ft./14.8 Acres
KNITTING PLANT

SURPLUS LAND                                                                                93 Acres
CARTHAGE, NC

MT. AIRY, NC                                                             214,000 sq. ft./24.50 Acres
DISTRIBUTION CENTER

MT. AIRY, NC                                                                            74,748 sq ft
FRANKLIN STREET

FT PIERCE MALL                                                                         151,690 sq ft
FT. PIERCE, FL

FT WALTON MALL                                                                          44,125 sq ft
FT. WALTON, FL

ALEXANDER CITY, AL                                                                      14,060 sq ft

</TABLE>

<PAGE>

DOWNTOWN OFFICES

COMMANDER HOUSE
ALEXANDER CITY, AL

5 ACRE TRACT - ACROSS FROM RETAIL STORE
ALEXANDER CITY, AL

5.8 ACRE TRACT ON US280
ALEXANDER CITY, AL

10 ACRE TRACT BETWEEN AIRPORT RD. & US280
ALEXANDER CITY, AL

20 ACRE TRACT ON ELKAHATCHEE STREET
ALEXANDER CITY, AL

64 ACRE TRACT ACROSS FROM CENTRAL ALABAMA
COMMUNITY COLLEGE
ALEXANDER CITY, AL

12 ACRE TRACT AT INTERSECTION OF US280 & AL63
ALEXANDER CITY, AL

1.55 ACRE TRACT BETWEEN TECH CENTER & RADNEY SCHOOL
ALEXANDER CITY, AL

17.5 ACRE TRACT BETWEEN RADNEY SCHOOL & SPORTSPLEX
ALEXANDER CITY, AL

CITATION COMMERCIAL JET -1990 MODEL

1,700 ACRE RUSSELL POND TRACT
ALEXANDER CITY, AL

<PAGE>
                                                                  SCHEDULE 5.17
                                                             to Amendment No. 9

PERMITTED LIENS AND DEBTS

         1.       UCC Financing Statements and Tax Liens

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
   Cross Creek         Pitney Bowes      North Carolina       001490763           8/11/97         Specified Equipment
  Apparel, Inc.     Credit Corporation    Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek          Associates       North Carolina      19980038254          6/23/98         Specified Equipment
  Apparel, Inc.       Leasing, Inc.       Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek       Telimagine, Inc.    North Carolina      20000008199          1/24/00         Specified Equipment
  Apparel, Inc.                           Secretary of
                    Assignee: Conseco        State
                      Finance Vendor
                         Services
                       Corporation

                    Assigned to Wells
                     Fargo Financial
                      Leasing, Inc.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek         Pitney Bowes      North Carolina      20000035920          4/7/00          Specified Equipment
  Apparel, Inc.     Credit Corporation    Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek       Western Carolina    North Carolina      20000123088         12/20/00       Specified equipment and
  Apparel, Inc.       Forklift, Inc.      Secretary of                                         all attachments and parts
                        Assignee:            State
                         The CIT
                     Group/Equipment
                     Financing, Inc.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       1
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
   Cross Creek      OMNOVA Solutions,    North Carolina      200105042981         7/26/01      Specified consigned goods
 Apparel, LLC as    Inc. as successor     Secretary of
   successor in       in interest to         State                            Amended 9/5/01
interest to Cross        GenCorp
  Creek Apparel,       Performance
       Inc.             Chemicals
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek      Russell Financial    North Carolina      20010508519L         8/7/01         Receivables, customer
   Apparel, LLC       Services, Inc.      Secretary of                                             agreements, goods,
                                             State                                             security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek        Wachovia Bank,     North Carolina      20010508526H         8/7/01           Accounts, Payment
   Apparel, LLC       N.A., as Agent      Secretary of                                          Intangibles, Supporting
                                             State                                             Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreement, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek          Associates       Surry County,        98-001171           6/24/98         Specified Equipment
  Apparel, Inc.       Leasing, Inc.      North Carolina
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek       Vanguard Supreme    Surry County,        00-000893           4/12/00         Specified Equipment
  Apparel, Inc.                          North Carolina
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek       Western Carolina    Surry County,        00-002495          12/20/00              Specified
  Apparel, Inc.       Forklift, Inc.     North Carolina                                                 Equipment
                      Assignee: The
                       CIT Group /
                        Equipment
                     Financing, Inc.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek      Russell Financial       Alabama         B2001-30931FS         8/6/01         Receivables, customer
   Apparel, LLC       Services, Inc.      Secretary of                                             agreements, goods,
                                             State                                             security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       2
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
   Cross Creek        Wachovia Bank,        Alabama         B2001-30936FS         8/6/01           Accounts, Payment
   Apparel, LLC       N.A., as Agent      Secretary of                                          Intangibles, Supporting
                                             State                                             Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreement, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek      Russell Financial     Cobb County,       033200109712         8/6/01         Receivables, customer
   Apparel, LLC       Services, Inc.        Georgia                                                agreements, goods,
                                                                                               security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek        Wachovia Bank,      Cobb County,       033200109717         8/6/01           Accounts, Payment
   Apparel, LLC       N.A., as Agent        Georgia                                             Intangibles, Supporting
                                                                                               Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreement, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek        Wachovia Bank,      Cobb County,       033200109718         8/6/01           Accounts, Payment
  Holdings, Inc.      N.A., as Agent        Georgia                                             Intangibles, Supporting
                                                                                                  Obligations, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   Cross Creek        Wachovia Bank,        Delaware         20011046510          8/28/01          Accounts, Payment
  Holdings, Inc.      N.A., as Agent      Secretary of                                          Intangibles, Supporting
                                             State                                                Obligations, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
DeSoto Mills, Inc.  Russell Financial       Alabama         B2001-30930FS         8/6/01         Receivables, customer
                      Services, Inc.      Secretary of                                             agreements, goods,
                                             State                                             security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       3
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
DeSoto Mills, Inc.    Wachovia Bank,        Alabama         B2001-30935FS         8/6/01           Accounts, General
                      N.A., as Agent      Secretary of                                         Intangibles, rights under
                                             State                                              Receivables Purchase and
                                                                                                Sale Agreement, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
DeSoto Mills, Inc.  Russell Financial     Cobb County,       033200109713         8/6/01         Receivables, customer
                      Services, Inc.        Georgia                                                agreements, goods,
                                                                                               security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
DeSoto Mills, Inc.    Wachovia Bank,      Cobb County,       033200109716         8/6/01           Accounts, General
                      N.A., as Agent        Georgia                                            Intangibles, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreement, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
Russell Financial     Wachovia Bank,        Alabama         B2001-30933FS         8/6/01           Accounts, General
  Services, Inc.      N.A., as Agent      Secretary of                                          Intangibles, Supporting
                                             State                                             Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreements, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
Russell Financial     Wachovia Bank,      Cobb County,       033200109715         8/6/01           Accounts, General
  Services, Inc.      N.A., as Agent        Georgia                                             Intangibles, Supporting
                                                                                               Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreements, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       4
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
Russell Financial     Wachovia Bank,       Tennessee          301-089644          8/6/01           Accounts, General
  Services, Inc.      N.A., as Agent      Secretary of                                          Intangibles, Supporting
                                             State                                             Obligations, rights under
                                                                                                Receivables Purchase and
                                                                                                Sale Agreements, Deposit
                                                                                                 Accounts, money, books
                                                                                               and records, and proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Thompson Tractor     Mississippi          01450813           7/17/00         Specified Equipment
  Corporation -         Co., Inc.         Secretary of
Jerzees Mossy Oak                            State
   Apparel Co.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing       Mississippi          01473623          10/23/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Thompson Tractor     Mississippi,          00-775            7/5/00          Specified Equipment
  Corporation -         Co., Inc.         Clay County
Jerzees Mossy Oak
   Apparel Co.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing       Mississippi,         00-1289           10/23/00           Leased Equipment
   Corporation         Corporation        Clay County
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
  Russell Corp.        Pitney Bowes         Alabama          B96-37418FS          9/9/96            Leased Equipment
                    Credit Corporation    Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Thompson Tractor       Alabama          B96-47316FS         11/12/96         Specified Equipment
 Corporation - DC       Co., Inc.         Secretary of
      Mont.                                  State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Thompson Tractor       Alabama          B96-50308FS          12/2/96         Specified Equipment
 Corporation - DC       Co., Inc.         Secretary of
      Mont.                                  State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       5
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
     Russell          SunTrust Bank,        Alabama          B97-24882FS          6/11/97        Fixtures and Equipment
 Corporation and         Atlanta          Secretary of                                           relating to industrial
    Industrial                               State                                                    revenue bond
Development Board
  of the City of
 Ashland, Alabama
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Caterpillar          Alabama          B99-09151FS          3/3/99            Leased Equipment
   Corporation          Financial         Secretary of
                         Services            State
                       Corporation
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          First Alabama         Alabama          B99-12512FS          3/23/99         Fixtures, Rights and
   Corporation      Bank (now Regions     Secretary of                                         Revenues relating to bond
                          Bank)              State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Caterpillar          Alabama         B1999-25870FS         6/17/99           Leased Equipment
   Corporation          Financial         Secretary of
                         Services            State
                       Corporation
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B1999-32512FS         8/4/99          Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B1999-32513FS         8/4/99          Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         EMC Corporation        Alabama         B1999-41255FS         10/4/99         Specified Equipment
   Corporation        Assignee: MLC       Secretary of
                       Group, Inc.           State
                       Assigned to
                     Wachovia Leasing
                       Corporation
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell            IBM Credit          Alabama         B2000-00677FS         1/5/00            Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing         Alabama         B2000-03091FS         1/20/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       6
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
     Russell         Schlafhorst Inc.       Alabama         B2000-09605FS         3/7/00          Specified Equipment
   Corporation                            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Pitney Bowes         Alabama         B2000-09862FS         3/8/00            Leased Equipment
   Corporation      Credit Corporation    Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell            IBM Credit          Alabama         B2000-13880FS         4/6/00            Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Computer Sales        Alabama         B2000-14937FS         4/13/00           Leased Equipment
   Corporation        International,      Secretary of
                           Inc.              State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Computer Sales        Alabama         B2000-18412FS         5/8/00            Leased Equipment
   Corporation        International,      Secretary of
                           Inc.              State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Computer Sales        Alabama         B2000-26726FS         6/30/00           Leased Equipment
   Corporation        International,      Secretary of
                           Inc.              State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Computer Sales        Alabama         B2000-28545FS         7/17/00           Leased Equipment
   Corporation        International,      Secretary of
                           Inc.              State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B2000-33671FS         8/21/00         Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B2000-33672FS         8/21/00         Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B2000-33673FS         8/21/00         Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B2000-33674FS         8/21/00         Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       7
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
     Russell         D & G Dyes, Inc.       Alabama         B2000-33854FS         8/22/00        All inventory sold to
   Corporation                            Secretary of                                          Debtor by Secured Party
                                             State                                                and all proceeds and
                                                                                                    products thereof
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing         Alabama         B2000-41151FS        10/17/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing         Alabama         B2000-41152FS        10/17/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing         Alabama         B2000-46919FS         12/4/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing         Alabama         B2000-46921FS         12/4/00           Leased Equipment
   Corporation         Corporation        Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital         Alabama         B2001-05109FS         2/6/01            Leased Equipment
   Corporation          Leasing -         Secretary of
                    Technology Finance       State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital         Alabama         B2001-05212FS         2/7/01            Leased Equipment
   Corporation          Leasing -         Secretary of
                    Technology Finance       State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital         Alabama         B2001-09815FS         3/13/01           Leased Equipment
   Corporation           Leasing          Secretary of
                    Technology Finance       State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Alabama         B2001-29176FS         7/26/01         Specified Equipment
   Corporation             LLC            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
  Russell Corp.        Caterpillar          Alabama         B2001-29433FS         7/27/01         Specified Equipment
                        Financial         Secretary of
                         Services            State
                       Corporation
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell        Russell Financial       Alabama         B2001-30932FS         8/06/01        Receivables, customer
   Corporation        Services, Inc.      Secretary of                                             agreements, goods,
                                             State                                             security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       8
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
     Russell         Business Credit        Florida          970000055629         3/10/97         Specified Equipment
   Corporation           Leasing          Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell        Copy Products Co.       Florida          980000248264         11/6/98         Specified Equipment
   Corporation                            Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          SunTrust Bank,        Judge of            175760            4/30/97            Real property,
 Corporation and         Atlanta            Probate,                                            improvements, fixtures,
  The Industrial                        Houston County,                                         equipment and leasehold
Development Board                           Alabama
  of the Town of
Columbia, Alabama
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Regions Bank as        Judge of            328642            6/9/98             Buildings and
   Corporation      Trustee, formerly       Probate,       (continuation of      (original       improvements to leased
                    First Alabama Bank     Montgomery       original file     filed 1/31/89,    realty, fixtures, rights
                                        County, Alabama     number 294349)       amendment       under Lease Agreement,
                                                                              filed 4/24/92,        Project Revenues
                                                                                   first
                                                                               continuation
                                                                               filed 9/7/93
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell         Tubular Textile        Judge of            65873             7/26/01         Specified Equipment
   Corporation             LLC           Probate, Pike
                                        County, Alabama
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital      Fulton County,     0602001002971         2/13/01         Specified Equipment
   Corporation           Leasing            Georgia
                    Technology Finance
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital      Fulton County,     0602001002972         2/13/01         Specified Equipment
   Corporation           Leasing            Georgia
                    Technology Finance
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital      Fulton County,     0602001002973         2/13/01         Specified Equipment
   Corporation           Leasing            Georgia
                    Technology Finance
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing      Fulton County,     0602000005134         3/20/00         Specified Equipment
   Corporation         Corporation          Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                       9
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
     Russell          Fleet Leasing      Fulton County,     0602000005074         3/20/00         Specified Equipment
   Corporation         Corporation          Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing      Fulton County,     0602000001044         1/14/00         Specified Equipment
   Corporation         Corporation          Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Leasing      Fulton County,     0601999020368        10/20/99         Specified Equipment
   Corporation         Corporation          Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
  Russell Corp.          City of         Fulton County,     GED Book 3161,        8/9/96           State Bridge Road;
                       Alpharetta,          Georgia            Page 270                          property description:
                         Georgia                                                                    12-2970-0856-024
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Crown Credit         Muscogee         10695004422         10/19/95         Specified Equipment
   Corporation           Company        County, Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Crown Credit         Muscogee         10695004423         10/19/95         Specified Equipment
   Corporation           Company        County, Georgia
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
  Russell Corp.        Caterpillar       Barrow County,    007-2001-008219        7/27/01           Leased Equipment
                        Financial           Georgia
                         Services
                       Corporation
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell        Russell Financial     Cobb County,       033200109714         8/6/01         Receivables, customer
   Corporation        Services, Inc.        Georgia                                                agreements, goods,
                                                                                               security for receivables,
                                                                                                 books and records, and
                                                                                                        proceeds
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell           Development          Muscogee        106-95-005244        12/22/95          Documents, Goods,
   Corporation         Authority of     County, Georgia                                           Fixtures, Minerals,
                    Columbus, Georgia                                                                   Proceeds

                        (Assignee:                                                               Continued on 12/15/00
                      Synovus Trust                                                                with continuation
                         Company)                                                                    #106-00-003549
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell            Macpherson          Muscogee        106-96-001012         3/8/96            This filing was
   Corporation      Meistergram, Inc.   County, Georgia                                          terminated on 4/24/96
                                                                                                   with filing number
                                                                                                     106-96-001656
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

                                      10
<PAGE>

<TABLE>
<CAPTION>
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
      Debtor          Secured Party       Jurisdiction       File Number         File Date             Collateral
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
<S>                 <C>                 <C>               <C>                 <C>              <C>
   The Russell        First American       Tennessee          961549999          11/27/96         Specified Equipment
   Corporation        National Bank       Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          First American       Tennessee          982009178           1/29/98         Specified Equipment
Corporation d/b/a     National Bank       Secretary of
   Hubert Hodge                              State
   Printing Co.
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
   The Russell      Imation Financing      Tennessee          972064841           8/19/97           Leased Equipment
   Corporation           Services         Secretary of
                                             State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
     Russell          Fleet Capital          Kansas            4572020            3/28/01           Leased Equipment
   Corporation           Leasing          Secretary of
                    Technology Finance       State
------------------- ------------------- ----------------- ------------------- ---------------- ---------------------------
</TABLE>

         2.       Debt under the Notes issued by the Company (the "1992
                  Notes"), pursuant to, and as defined in, the Note Agreements
                  each dated as of December 1, 1992 (the "1992 Note
                  Agreements"), in the original aggregate principal amount of
                  $75,000,000 due August 31, 2002, the holders of which are
                  Teachers Insurance and Annuity Association of America,
                  AllState Life Insurance Company, Connecticut General Life
                  Insurance Company, and Prudential Insurance Company of
                  America ("Prudential").

         3.       Debt under the Financing Documents.

         4.       Debt under any agreements ("Cash Management Agreements")
                  between the Company or a Subsidiary, on the one hand, and any
                  Cash Management Services Provider (as defined in the
                  Guarantee and Collateral Agreement), on the other hand,
                  pursuant to which such Cash Management Services Provider
                  provides Cash Management Services (as defined in the
                  Guarantee and Collateral Agreement).

         5.       Debt under the foreign exchange forward rate agreements
                  provided to the Company by JPMorgan Chase Bank (formerly The
                  Chase Manhattan Bank) pursuant to the ISDA Master Agreement
                  and Schedules dated as of July 24, 2001 (the "Chase Swaps").

         6.       Debt under the Guarantee Agreement, dated as of August 4,
                  2000, by the Company to SunTrust Bank ("SunTrust") of loans
                  by SunTrust to Elasticos Centroamericanos Textiles, S.A. de
                  C.V. (the "Elcatex Guarantee").

                                      11
<PAGE>

         7.       Debt of Russell Europe Limited in an amount of up
                  to(pound)15.0 million owing to the Bank of Scotland, and the
                  guaranty of such Debt by Russell Corporation.

         8.       Debt under the Intercompany Receivables Agreements.

         9.       Debt under Letters of credit issued from time to time by
                  First Union National Bank for the account of one or more of
                  the Company and its Subsidiaries and for the benefit of a
                  supplier of the Company or a Subsidiary (the "First Union
                  Letters of Credit").

         10.      Intercompany Debt owing by RUServicios, Sociedad Anonima to
                  the Company, as evidenced by a promissory note in the
                  principal amount of US$5,000,000.

         11.      Letters of Credit issued prior to the date hereof by SunTrust
                  for the account of one or more of the Company and its
                  Subsidiaries and for the benefit of a supplier of the Company
                  or a Subsidiary (the "SunTrust Letters of Credit").

         12.      Amended and Restated Term Loan/Bankers' Acceptance Agreement
                  dated as of January 31, 2002, between the Company and
                  SunTrust (the "SunTrust Loan Agreement").

         13.      ISDA Master Agreement and Schedule dated as of June 19, 1995
                  (the "SunTrust/Russell Swap Agreement"), between Trust
                  Company Bank (now SunTrust) and the Company.

         14.      Guarantee of obligations of the Company pursuant to the
                  Guarantee and Collateral Agreement.

         15.      Debt under the Amended and Restated Credit Agreement dated as
                  of January 31, 2002 among the Company, Russell Europe
                  Limited, the Banks listed therein and Wachovia Bank, N.A. as
                  Administrative Agent ("the Wachovia Credit Agreement").

         16.      Liens created in favor of Wachovia Bank, N.A., as Collateral
                  Agent, pursuant to the Guarantee and Collateral Agreement and
                  various mortgages executed in connection therewith, and the
                  Debt secured thereby.

                                      12
<PAGE>

                                                                  SCHEDULE 5.18
                                                             to Amendment No. 9

                             RESTRICTIVE AGREEMENTS

1.       The Financing Documents

2.       The 1992 Note Agreements

3.       The Wachovia Credit Agreement

4.       The Elcatex Guarantee

5.       The Receivables Purchase Documents

6.       The SunTrust Loan Agreement

7.       The Guarantee and Collateral Agreement, together with the mortgages
         and other agreements and documents relating thereto

8.       Operating Agreement of Frontier Yarns LLC

9.       Shareholders' Agreement dated September 30, 1999 Between Russell do
         Brasil Ltda. and Companhia de Tecidos Norte de Minas - Coteminas

10.      Marmot Mountain Ltd. Second Amended and Restated Stockholder Agreement
         dated August 28, 2001

11.      The agreements evidencing the Permitted Sale Leasebacks may limit the
         ability of the Company to transfer or place liens upon the property
         subject thereto

                                       1
<PAGE>

                                                                    Exhibit A-1

                           [Form of 1995 Senior Note]

                              RUSSELL CORPORATION

                                  Senior Note
                             Due November 30, 2008

No. R-_____                                                              [DATE]

$__________                                                        PPN:________

         RUSSELL CORPORATION, an Alabama corporation (the "Company"), for value
received, hereby promises to pay to [_____________________] or registered
assigns on the thirtieth day of November, 2008 the principal amount of
[_____________________] DOLLARS ($[______]) and to pay interest (computed on
the basis of a 360-day year of twelve 30-day months) on the principal amount
from time to time remaining unpaid hereon at the Applicable Rate (as defined in
the Note Agreement (defined below)), payable semiannually on May 31st and
November 30th in each year and at maturity (with the first such payment to be
made on May 31, 1996). The Company agrees to pay interest on overdue principal
(including any overdue required or optional prepayment of principal) and
premium, if any, and (to the extent legally enforceable) on any overdue
installment of interest, at the Overdue Rate after the due date, whether by
acceleration or otherwise, until paid. "Overdue Rate" shall mean the lesser of
(a) the maximum rate permitted by applicable law and (b) the greater of (i) 2%
per annum plus the Applicable Rate or (ii) 2% per annum plus the rate which
Morgan Guaranty Trust Company of New York, New York, NY announces from time to
time as its prime lending rate, in each case as in effect from time to time.

         Both the principal hereof and interest hereon are payable at the home
office of the registered holder of this Note in coin or currency of the United
States of America which at the time of payment shall be legal tender for the
payment of public and private debts. If any amount of principal, premium, if
any, or interest on or in respect of this Note becomes due and payable on any
date which is not a Business Day, such amount shall be payable on the next
succeeding Business Day and the period of extension shall be included in the
computation of interest payable on such Business Day. "Business Day" means any
day other than a Saturday, Sunday or other day on which banks in Birmingham,
Alabama or New York, New York are required by law to close.

                                 Exhibit A-1-1
<PAGE>

         This Note is one of the Senior Notes due November 30, 2008 (the
"Notes") of the Company in the aggregate principal amount of $100,000,000
issued under and pursuant to the terms and provisions of the Note Agreement,
dated as of December 7, 1995, as amended (the "Note Agreement"), entered into
by the Company with the original Purchaser therein referred to and this Note
and the holder hereof are entitled equally and ratably with the holders of all
other Notes outstanding under the Note Agreement to all the benefits provided
for thereby or referred to therein. Reference is hereby made to the Note
Agreement for a statement of such rights and benefits.

This Note and the other Notes outstanding under the Note Agreement may be
declared due prior to their expressed maturity dates and certain prepayments
are required to be made thereon, all in the events, on the terms and in the
manner and amounts as provided in the Note Agreement.

         The Notes are not subject to prepayment or redemption at the option of
the Company prior to their expressed maturity dates except on the terms and
conditions and in the amounts and with the premium, if any, set forth in the
Note Agreement.

         This Note is registered on the books of the Company and is
transferable only by surrender thereof at the principal office of the Company
duly endorsed or accompanied by a written instrument of transfer duly executed
by the registered holder of this Note or its attorney duly authorized in
writing. Payment of or on account of principal, premium, if any, and interest
on this Note shall be made only to or upon the order in writing of the
registered holder.

         THIS NOTE AND SAID NOTE AGREEMENT ARE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY.

                                    RUSSELL CORPORATION

                                    By:
                                       ----------------------------------------
                                    Its:
                                        ---------------------------------------

         THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE LAWS OF ANY STATE AND MAY BE SOLD, TRANSFERRED OR OTHERWISE
DISPOSED OF ONLY IF REGISTERED OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT AVAILABLE UNDER SUCH ACT AND APPLICABLE STATE LAW.

                                 Exhibit A-1-2
<PAGE>

                                                                    EXHIBIT A-2

                           [Form of 1997 Senior Note]

                              RUSSELL CORPORATION

                                  SENIOR NOTE
                              DUE AUGUST 28, 2007

No. R-____                                                               [DATE]

$[______]                                                         PPN: [______]

         RUSSELL CORPORATION, an Alabama corporation (the "COMPANY"), for value
received, hereby promises to pay to [_______________________] or registered
assigns on the twenty-eighth day of August, 2007 the principal amount of
[_______________________] DOLLARS ($[________]) and to pay interest (computed
on the basis of a 360-day year of twelve 30-day months) on the principal amount
from time to time remaining unpaid hereon at the Applicable Rate (as defined in
the Note Agreement (defined below)), payable quarterly on November 28, February
28, May 28, and August 28 in each year and at maturity (with the first such
payment to be made on November 28, 1997). The Company agrees to pay interest on
overdue principal (including any overdue required or optional prepayment of
principal) and premium, if any, and (to the extent legally enforceable) on any
overdue installment of interest, at the Overdue Rate after the due date,
whether by acceleration or otherwise, until paid. "Overdue Rate" shall mean the
lesser of (a) the maximum rate permitted by applicable law and (b) the greater
of (i) 2% per annum plus the Applicable Rate or (ii) 2% per annum plus the rate
which Morgan Guaranty Trust Company of New York, New York, NY announces from
time to time as its prime lending rate, in each case as in effect from time to
time.

         Both the principal hereof and interest hereon are payable at the home
office of the registered holder of this Note in coin or currency of the United
States of America which at the time of payment shall be legal tender for the
payment of public and private debts. If any amount of principal, premium, if
any, or interest on or in respect of this Note becomes due and payable on any
date which is not a Business Day, such amount shall be payable on the next
succeeding Business Day and the period of extension shall be included in the
computation of interest payable on such Business Day. "Business Day" means any
day other than a Saturday, Sunday or other day on which banks in Birmingham,
Alabama or New York, New York are required by law to close.

                                 Exhibit A-1-1
<PAGE>

         This Note is one of the Senior Notes Due August 28, 2007 (the "NOTES")
of the Company in the aggregate principal amount of $125,000,000 issued under
and pursuant to the terms and provisions of the Note Agreement, dated as of
August 28, 1997, as amended (the "NOTE AGREEMENT"), entered into by the Company
with the original Purchaser therein referred to and this Note and the holder
hereof are entitled equally and ratably with the holders of all other Notes
outstanding under the Note Agreement to all the benefits provided for thereby
or referred to therein. Reference is hereby made to the Note Agreement for a
statement of such rights and benefits.

         This Note and the other Notes outstanding under the Note Agreement may
be declared due prior to their expressed maturity dates and certain prepayments
are required to be made thereon, all in the events, on the terms and in the
manner and amounts as provided in the Note Agreement.

         The Notes are not subject to prepayment or redemption at the option of
the Company prior to their expressed maturity dates except on the terms and
conditions and in the amounts and with the premium, if any, set forth in the
Note Agreement.

         This Note is registered on the books of the Company and is
transferable only by surrender thereof at the principal office of the Company
duly endorsed or accompanied by a written instrument of transfer duly executed
by the registered holder of this Note or its attorney duly authorized in
writing. Payment of or on account of principal, premium, if any, and interest
on this Note shall be made only to or upon the order in writing of the
registered holder.

         THIS NOTE AND SAID NOTE AGREEMENT ARE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY.

                                    RUSSELL CORPORATION

                                    BY:
                                       ----------------------------------------
                                          TITLE:

         THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE LAWS OF ANY STATE AND MAY BE SOLD, TRANSFERRED OR OTHERWISE
DISPOSED OF ONLY IF REGISTERED OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT AVAILABLE UNDER SUCH ACT AND APPLICABLE STATE LAW.

                                 Exhibit A-1-2
<PAGE>

                                  Exhibit 5.2

                             [Collateral Documents]

                                 Exhibit 5.3-1
<PAGE>

                                  Exhibit 5.7

                              [Wachovia Amendment]

                                 Exhibit 5.8-1
<PAGE>

                                  Exhibit 5.8

                              [SunTrust Amendment]

                                Exhibit 5.10-1

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