Document:

Revolving Loan Agreement

 Exhibit 10.1 

REVOLVING LOAN AGREEMENT 

THIS REVOLVING LOAN AGREEMENT, dated as of the 25th day of June, 2010, (the “Loan Agreement” or “Agreement”),
is made by and between SUPERIOR UNIFORM GROUP, INC., a Florida corporation, whose address is 10055 Seminole Boulevard, Seminole, FL 33772 (the “Borrower”), and FIFTH THIRD BANK, an Ohio corporation having an address of 201
East Kennedy Boulevard, Suite 1800, Tampa, Florida 33602 (the “Lender”). 
 W I T N
E S S E T H: 
 WHEREAS, Borrower has applied to Lender for a revolving line of
credit not exceeding Fifteen Million and No/100 Dollars ($15,000,000.00) (the “Loan”) to be used to support the general corporate purposes of borrower; 

WHEREAS, Borrower and Lender have negotiated the terms and conditions of, and wish to enter into, this Agreement for the purpose of
setting forth the terms and conditions of the Loan; 
 NOW, THEREFORE, in consideration of the Premises, and of the mutual
covenants and agreements set forth below, Borrower and Lender agree as follows: 
 ARTICLE I 

LOAN TERMS 

Loan Amount. Fifteen Million and No/100 Dollars ($15,000,000.00) Revolving Line of Credit. The Loan shall be evidenced by a
Revolving Line of Credit Promissory Note (the “Note”). 
 Term of Loan. The term of the Loan (“Term”)
shall be thirty-six (36) months. If Borrower is in full compliance with all terms and conditions of this Agreement, Borrower shall have the option to extend and term-out the outstanding principal balance of the Loan due on the Initial Maturity
Date, as defined in the Note, and continue to make interest only payments over the subsequent twelve (12) consecutive months in accordance with the terms of the Note. 

Interest Rate. The Loan shall bear interest at the LIBOR Rate, as defined in the Note, plus ninety (90) basis points.

 Unused Loan Fee. In addition to all other amounts due to Lender hereunder and under the Revolving Line of Credit Note,
Borrower shall pay to Lender on the first Business Day of each April, July, October and January, an availability fee equal to 0.15% (15 basis points) per annum on the average daily unused available principal under the Note for the preceding quarter
or portion thereof. 
 Repayment Terms. Interest only payments shall be paid monthly during the initial thirty-six
(36) months of the Loan and, if extended, during the subsequent twelve (12) consecutive months. All payments of principal and interest shall be auto debited from Borrower’s deposit account with Lender. Borrower shall be allowed to
make prepayments of principal in full or in part at any time during the Term of the Loan without penalty or premium. 

ARTICLE II 

LOAN DOCUMENTS 

“Loan Documents” means this Agreement, the Revolving Line of Credit Note, any UCC Financing Statements, and any other
agreements, documents or instruments related to the Loan, whether executed prior to, at or after the closing, as the same may be amended, supplemented or modified, in writing, from time to time. 

ARTICLE III 

WARRANTIES AND REPRESENTATIONS OF BORROWER 

Borrower hereby represents and warrants to Lender (which representations and warranties shall be deemed continuing and re-stated at the
time of each advance) as follows: 
 Organization Status. Borrower (i) is duly organized under the laws of the State
of Florida, and (ii) is in good standing under the laws of the State of Florida, and (iii) has stock outstanding which has been duly and validly issued. 

 Compliance with Laws. Borrower is in compliance with all laws, regulations,
ordinances and orders of all Governmental Authorities, including, but not limited to, the Securities Act of 1933, the Exchange Act, Sarbanes-Oxley Act of 2002, and the applicable accounting and auditing principles, rules, standards and practices
promulgated, approved or incorporated by the Securities and Exchange Commission of the United States or the Public Company Accounting Oversight Board, and all Environmental Laws. “Environmental Laws” means all applicable federal, state
and local laws and regulations intended to protect the environment and public health and safety as the same may be amended from time to time. “Governmental Authority” means the government of the United States, or any other nation, or of
any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
powers or functions of or pertaining to government. 
 Financial Statements. The financial statements of Borrower
heretofore delivered to Lender are true and correct in all material respects, and fairly present the financial condition of Borrower as of the respective dates thereof, and no material adverse change has occurred in the financial conditions
reflected therein since the respective dates thereof that would affect Borrower’s performance under the Note, this Agreement or any other Loan Documents; 

Authority to Enter into Loan Documents. The Borrower has full authority to enter into the Loan Documents and consummate the
transactions contemplated hereby, and the facts and matters expressed or implied in the opinions of its legal counsel are true and correct; 

Validity of Loan Documents. The Loan Documents have been approved by those persons having proper authority, and are in all
respects legal, valid and binding according to their terms. 
 Conflicting Transactions of Borrower. That the
consummation of the transactions hereby contemplated and the performance of the obligations of Borrower under and by virtue of the Loan Documents will not result in any breach of, or constitute a default under any lease, bank loan or credit
agreement, partnership agreement, or other instrument to which Borrower is a party or by which it may be bound or affected. 

Pending Litigation. That there are no actions, suits, or proceedings pending, or to the knowledge of Borrower threatened against
or affecting it or involving the validity or enforceability of any of the Loan Documents at law or in equity, or before or by any governmental authority. 

Brokerage Commissions. Borrower warrants and represents to Lender that Borrower is not obligated to pay any commission to any
broker through any commission or service agreement with a third party in connection with the transaction contemplated herein. Borrower agrees to and shall indemnify Lender from any liability, claims, or losses arising by reason of any such brokerage
commissions which are caused by Borrower or its agents. This provision shall survive the repayment of the Loan made in connection herewith and shall continue in full force and effect so long as the possibility of such liability, claims or losses
exists. 
 No Event of Default. As of the date of this Agreement, there is no Event of Default under this Agreement, the
Note, or any other Loan Document, nor any event which would become an Event of Default but for the passage of time or the giving of notice or both. 

Patriot Act. Borrower or any entity or person owning an interest in or being an investor, or otherwise, in Borrower or its
respective constituents are not in violation of any laws relating to terrorism or money laundering, including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”) and Public Law
107-56 known as the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended (the “Patriot Act”). 

Solvency. The Borrower (before and after giving effect to the Loan) is and will be solvent and have, and expect to have, the
ability to, in the ordinary course of business, pay its debts from time to time incurred and as such debts mature. “Solvent” means with respect to the Borrower, on any date determination, that on such date (a) the fair value of the
assets of Borrower is greater than the total amount of liabilities, including contingent liabilities, of Borrower, (b) the present fair salable value of the assets of Borrower is not less than the amount that will be required to pay the
probable liability of Borrower on its debts as they become absolute and matured, (c) Borrower does not intend to, and does not believe that it will, incur debts or liabilities beyond Borrower’s ability to pay such debts and liabilities as
they mature, (d) Borrower is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which Borrower’s assets would constitute an unreasonably small capital, and (e) Borrower is able to
pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

Tax Status. The Borrower (a) has made or timely filed all federal income and all material State and foreign income and all
other tax returns, reports and declarations required by any jurisdiction to which each of them is subject; (b) has paid all taxes and 

 
other governmental assessments and charges shown or determined to be due on such returns, reports and declarations, except those being contested in good faith; and (c) has set aside on their
books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by any taxing authority
and none of the officers of Borrower know of any reasonable basis for any such claim. 
 Taxes. Borrower shall pay when
due all taxes, assessments and other governmental charges imposed upon it or its assets, franchises, business, income or profits before any penalty or interest accrues thereon, and all claims (including, without limitation, claims for labor,
services, materials and supplies) for sums which by law might be a lien or charge upon any of its assets, provided that (unless any material item or property would be lost, forfeited or materially damaged as a result hereof) no such charge or claim
need be paid if it is being diligently contested in good faith, if Lender is notified in advance of such contest and if Borrower establishes an adequate reserve or other appropriate provision required by generally accepted accounting principles and
deposits with Lender cash or bond in an amount acceptable to Lender. 
 ERISA. Any Employee Retirement Income Security
Act of 1974, as amended (“ERISA”) Plan in effect at the Borrower is in compliance, in all material respects, with the applicable provisions of ERISA, the Internal Revenue Code of 1986 (“Code”) and any other Federal or State laws.
There are no pending, or, to the best knowledge of Borrower, threatened claims, or lawsuits, or actions, by any governmental authority with respect to an ERISA Plan that could reasonably be expected to have a material adverse effect on the financial
condition of Borrower or any of its subsidiaries. 
 For the purposes of this Agreement, the term “Borrower” shall also
include each Subsidiary of Borrower. “Subsidiary” means a domestic corporation, partnership, joint venture, limited liability company or other business entity formed under the laws of jurisdictions within the United States of which a
majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at
the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such entity. Unless otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Borrower. 
 ARTICLE IV 

COVENANTS OF BORROWER 

Borrower hereby covenants and agrees with Lender as follows: 

Expenses. To pay all costs of closing the Loan contemplated hereunder and all expenses of Lender with respect thereto, including
but not limited to reasonable attorneys’ fees (including attorneys’ fees incurred by Lender subsequent to the closing of the Loan in connection with the disbursement, administration, collection, restructure, amendment, or transfer of the
Loan), advances, recording expenses, brokerage commissions, and claims of brokerage, documentary stamps and other fees, and similar items, and to allow all closing papers, loan documents and other legal matters to be subject to the approval of
Lender’s attorneys. 
 Total Liabilities to Tangible Net Worth. During the entire term of the Loan, Borrower shall
at all times maintain a ratio of Total Liabilities to Tangible Net Worth no greater than 0.75:1.00. This ratio shall be the measurement of the Total Liabilities of Borrower, as reflected on Borrower’s financial statements delivered to Lender on
a quarterly basis beginning September 30, 2010, herein to Tangible Net Worth. “Total Liabilities” shall mean all indebtedness (i) with respect to money borrowed, evidenced by a note, debenture or other obligation to pay money,
(ii) in respect rent or lease of property, under written leases or lease arrangements required by GAAP to be capitalized, (iii) for all obligations under conditional sales or title retention agreements, (iv) for accounts and trade
payables, (v) for accrued expenses, (vi) and for all other monetary obligations of Borrower. “Tangible Net Worth” shall mean total assets of Borrower, excluding assets owed to Borrower from an officer, an affiliate or a
subsidiary, and excluding the aggregate amount of Borrower’s goodwill, franchises, licenses, patents, trademarks, trade names, copyrights, service marks, brand names, and other intangible assets minus Total Liabilities. 

Debt Service Coverage Ratio. During the entire time of the Loan, Borrower shall maintain Debt Service Coverage Ratio not less than
2.50 to 1.00, calculated at Borrower’s fiscal year end and quarterly on the last day of each fiscal quarter, on a rolling four quarters basis. For purposes hereof, “Debt Service Coverage Ratio” shall mean the sum of earnings
before interest, taxes, depreciation, and amortization (EBITDA) divided by the sum of current maturities of long term debt and capital leases plus interest expense; if the Borrower acquires substantially all assets or stock of a previously unrelated
business entity Borrower may utilize the historical income statement of the acquired entity in calculating the Debt Service Coverage Ratio as if the acquired entity had been merged into Borrower for the prior four quarters; and, if the Debt Service
Coverage Ratio is calculated inclusive of a merged entity historical income statement, the calculation of the ratio and the historical financial information of the acquired/merged entity must be presented in form and content acceptable to Lender.

 Books and Records/Operating and Rent Statements. To keep and maintain proper and
accurate books, records and accounts reflecting all items of income and expenses of operation of Borrower’s business; and, upon the request of Lender, to make such books, records, and accounts immediately available to Lender for inspection.
Such right to inspection shall be available to Lender upon an Event of Default with twenty-four (24) hours prior notice. Such inspection shall be in an office designated by Lender and Borrower shall be entitled to have a representative of
Borrower present during such inspection. 
 Financial Reporting. Borrower shall at all times comply with the following
until such time as the Loan has been paid in full: 
 i) Within forty-five (45) days after the end of each quarter, Borrower
shall provide to Lender a Quarterly Covenant Compliance Worksheet in such form as approved by Lender. 
 ii) Within
forty-five (45) days after the end of each quarter, Borrower shall provide to Lender its quarterly unaudited consolidated financial statements in a form acceptable to Lender and including an income statement and balance sheet. The quarterly
financial statements shall be certified as accurate by its principal financial officer. 
 iii) Within one hundred twenty
(120) days following the end of its fiscal year, Borrower shall provide to Lender its annual audited financial statements in a form acceptable to Lender and including an income statement and balance sheet. 

iv) Borrower shall provide such other financial reports or information as Lender may reasonably request in writing from time to time.

 Depository Relationship. Borrower shall maintain its primary depository relationship with Lender throughout the term
of the Loan. Borrower recognizes that the establishment of such depository relationship and the maintenance of the same was an important factor and a material inducement to Lender in establishing the terms and conditions, including the interest
rate, of the Loan. 
 Audits. Lender shall have the right to audit the books and records of Borrower. No rights of audit
unless in default and with twenty-four (24) hours prior notification and accompanied by Borrower’s representative. 

Insurance. At its own cost, Borrower shall obtain and maintain insurance against (a) loss, destruction or damage to its
properties and business of the kinds and in the amounts customarily insured against by corporations with established reputations engaged in the same or similar business as Borrower, and (b) insurance against public liability and third party
property damage of the kinds and in the amounts customarily insured against by corporations with established reputations engaged in the same or similar business as Borrower. All such policies shall be issued by financially sound and reputable
insurers. All of the insurance policies required hereby shall be evidenced by one or more Certificates of Insurance delivered to Lender by Borrower on the Closing Date and at such other times as Lender may request from time to time. 

Accounting Terms. All accounting terms not specifically defined herein shall be construed in conformity with, and all financial
data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with generally accepted accounting principals (“GAAP”), as in effect from time to time,
applied in a manner consistent, and that were used in preparing the financial statements delivered to Lender. Notwithstanding the foregoing, for the purpose of determining compliance with any covenant contained in this Agreement (including the
computation of any financial covenant), Indebtedness of the Borrower and its subsidiaries shall be deemed carried at 100% of the outstanding principal balance thereof. If at any time any change in GAAP would affect the computation of any financial
ratio set forth in this Agreement, the Borrower and Lender shall negotiate in good faith to amend such ratio to preserve the original intent thereof. 

Negative Pledge. During the term of the Loan, except for materials, vehicles, equipment, tools or other items of personal property
purchased in the ordinary course of Borrower’s business (and, in no event, in excess of one Hundred Thousand and No/100 Dollars ($100,000.00) outstanding at any one time), Borrower shall not pledge or otherwise encumber any of Borrower’s
assets without the express prior written consent of Lender. 
 ARTICLE V 

DEFAULTS 

An Event of Default shall be deemed to have occurred hereunder if: 

Default Under Promissory Note. If there is any failure to make any principal or interest payment or any other monetary payment
when due beyond any applicable cure period as required in the Note, or this Agreement; or 
 Non-Monetary Defaults. Any
non-monetary default occurring under this Agreement other than the Note which is not cured within thirty (30) days after receipt of written notice of same from Lender, to observe or perform any non monetary covenant or

 
condition as contained in this Agreement; provided that if any such failure concerning a non monetary covenant or condition is susceptible to cure and cannot reasonably be cured within
said thirty (30) day period, then Borrower shall have an additional sixty (60) day period to cure such failure and no Event of Default shall be deemed to exist hereunder so long as Borrower commences such cure within the initial thirty
(30) day period and diligently and in good faith pursues such cure to completion within such resulting ninety (90) day period from the date of Lender’s notice; or 

Breach of Warranty. Any warranties, representations or covenants made or agreed to be made in any of the Loan Documents shall be
breached in any material respect by Borrower or shall prove to be false or misleading which are not cured within thirty (30) days of written notice to Borrower of such alleged breach; provided that if such breach is reasonably
susceptible of cure, then no Event of Default shall exist so long as Borrower cures said breach within the ninety (90) day notice and cure period provided in paragraph 2 above; or 

Material Adverse Change. Borrower shall suffer any material adverse change in financial condition which, in the reasonable opinion
of Lender, Lender deems itself insecure such that a default is imminent or has occurred, which could materially impair the ability of the Borrower to pay all amounts due under the Note; or 

Bankruptcy or Insolvency of Borrower. 

The filing by the Borrower, or any Subsidiary of Borrower, of a voluntary petition in bankruptcy for adjudication as a bankrupt or
insolvent, or the filing by the Borrower, or any Subsidiary of Borrower, of any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any
present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, or the Borrower’s, or any Subsidiary of Borrower, seeking or consenting to or acquiescence in the appointment
of any trustee, receiver or liquidator of the Borrower or of all of the rents, revenues, issues, earnings, profits or income thereof, or the making of any general assignment for the benefit of creditors, or the admission in writing of its inability
to pay its debts generally as they become due; or 
 The failure to discharge within sixty (60) days of filing a petition
filed against the Borrower, or any Subsidiary of Borrower, seeking any reorganization, arrangement, composition, readjustment, liquidation or dissolution or similar relief under any present or future federal, state or other statute, law or
regulation relating to bankruptcy, insolvency or other relief for debtors, or the appointment of any trustee, receiver or liquidator of the Borrower, or any Subsidiary of Borrower, or of all or any substantial part of the Premises or of any or all
of the rents, revenues, issues, earnings, profits or income thereof without the consent or acquiescence of the Borrower, or any Subsidiary of Borrower, as applicable; or 

Assignment for the Benefit of Creditors. Borrower, or any Subsidiary of Borrower, shall make a general assignment for the benefit
of creditors; or 
 Failure to Disprove Default. Lender shall reasonably suspect the occurrence of one or more of the
above said Events of Default and Borrower, upon request of the Lender, shall fail to provide evidence reasonably satisfactory to Lender that such event or Events of Default have not, in fact, occurred; or 

Change in Management of Borrower. There is any change of the Chief Executive Officer and/or Chief Financial Officer of Borrower,
without the express prior written consent of Lender, which consent shall be in Lender’s sole and absolute discretion. 

ARTICLE VI 

REMEDIES OF LENDER 

Upon the occurrence of any one or more of the Events of Default set out in Article IV hereof, Lender shall at its option be entitled, in
addition to and not in lieu of the remedies provided for in the Note, or other documents executed in connection with the Loan, to proceed to exercise any of the following remedies: 

Cancel and terminate this Agreement and not disburse any additional funds to Borrower; or 

Accelerate Payment of the Note whereupon Borrower agrees, upon written request of the Lender, to immediate pay to Lender all of the
outstanding principal and unpaid interest and other charges due pursuant to the terms of the Note; or 
 Commence an appropriate
legal or equitable, action to enforce performance of this Agreement; or 
 Exercise any other rights or remedies Lender may have
under the Loan Documents referred to in this Agreement or executed in connection with the Loan which may be available under applicable law. 

 ARTICLE VII 

MISCELLANEOUS 

In the event of a conflict with other provisions of this Agreement, the provisions of this Article VI shall control. 

No Partnership or Joint Venture. Nothing herein nor the acts of the parties hereto shall be construed to create a partnership or
joint venture between Borrower and Lender. 
 No Assignment by Borrower. Neither this Agreement nor the right to receive
any advances to be made by Lender may be assigned by Borrower without the prior written consent of Lender. If Lender approves an assignment hereof by Borrower, Lender shall be entitled to make advances to such assignee and such advances shall be
evidenced by the Note and secured by the Loan Documents. Borrower shall remain liable for payment of all sums advanced hereunder before and after such assignment. 

U.S.A. Patriot Act Verification Information. Borrower shall provide evidence of its legal names, tax identification numbers, and
street addresses satisfactory to and sufficient for the Lender to verify the identity of the Borrower as required under the U.S.A. Patriot Act. Borrower shall notify Lender promptly of any change in such information. 

Delivery of Loan Documents. All of the Loan Documents have been, or will be, duly executed and delivered to Lender, and the
Financing Statements and any recordable Loan Documents, as applicable, have been or will be recorded in the appropriate public offices. 

Additional Items. Notwithstanding anything contained in this Agreement to the contrary, Borrower shall have submitted the
following additional items to Lender on or before the closing unless otherwise agreed to by Lender: 

Borrower’s federal taxpayer identification number. 

The Articles of Incorporation of the Borrower, and all amendments thereof, certified by the appropriate official of the
State of Florida; 
 A current good standing certificate from the Secretary of the State of Florida; 

The By-Laws or other appropriate organizational documents of the Borrower; 

An incumbency certificate, specifying by name and title the officers, directors, certified by an appropriate person or
other authorized individual; 
 Certified resolutions of the Board of Directors of Borrower authorizing the
execution and delivery of the Loan Documents and all other documents necessary or desirable, for the consummation of the transaction contemplated herein. 

Waiver. In the event of any litigation to enforce or interpret any of the provisions of the Note, or this Agreement, or any of the
Loan Documents, or any combination thereof, the Borrower hereby waives any and all right to demand a jury trial on any of the issues. 

Opinion Letter. At Closing, Borrower shall have provided an opinion of outside counsel with respect to the corporate status of
Borrower, the due authorization for execution, delivery and enforceability of the Loan Documents. 
 ARTICLE VIII

 GENERAL CONDITIONS 

The following conditions shall be applicable throughout the term of this Agreement: 

Rights of Third Parties. All conditions of the obligations of Lender hereunder, including the obligation to make advances, are
imposed solely and exclusively for the benefit of Lender, its successors and assigns, and no other person shall have standing to require satisfaction of such conditions in accordance with their terms or be entitled to assume that Lender will refuse
to make advances in the absence of strict compliance with any or all thereof, and no other person shall, under any circumstances, be deemed to be a beneficiary of such conditions, any and all of which may be freely waived in whole or in part by
Lender at any time if in its sole discretion it deems it desirable to do so. 
 Evidence of Satisfaction of Conditions.
Any condition of this Agreement which requires the submission of evidence of the existence or nonexistence of a specified fact or facts implies as a condition the existence or nonexistence, as the case may be, of such fact or facts, and Lender shall
at all times be free independently to establish to its satisfaction and in its absolute reasonable discretion such existence or nonexistence. 

 Assignment. Lender shall have the unconditional right to assign all or any part of
its interest hereunder to any third party. 
 Successors and Assigns Included in Parties. Whenever in this Agreement one
of the parties hereto is named or referred to, legal representatives, successors, and assigns of such parties shall be included, and all covenants and agreements contained in this Agreement by or on behalf of the Borrower or by or on behalf of
Lender shall bind and inure to the benefit of their respective legal representatives, successors and assigns whether so expressed or not. 

Headings. The headings of the sections, paragraphs and subdivisions of this Agreement are for the convenience of reference only,
are not to be considered a part hereof and shall not limit or otherwise affect any of the terms hereof. 
 Invalid Provisions
to Affect No Others. In fulfillment of any provision hereof or any transaction related hereto at the time performance of such provisions shall be due, shall involve transcending the limit of validity prescribed by law, then ipso facto,
the obligation to be fulfilled shall be reduced to the limit of such validity; and if any clause or provision herein contained operates or would prospectively operate to invalidate this Agreement in whole or in part, then such clause or provision
only shall be held for naught as though not herein contained, and the remainder of this Agreement shall remain operative and in full force and effect. 

Number and Gender. Whenever the singular or plural number, masculine or feminine, or neuter gender is used herein, it shall
equally include the other. 
 Amendments. Neither this Agreement nor any provision hereof may be changed, waived,
discharged, or terminated orally, but only by instrument in writing signed by the party against whom enforcement of the change, waiver, discharge, or termination is sought. 

Entire Agreement. This Agreement and the documents expressly referred to herein or otherwise executed in connection herewith
embody the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersede all prior agreements and understandings relating to the subject matter. 

Notice. 

(a) All notices given hereunder shall be in writing and addressed as follows: 

 

					
	Lender:	 	Fifth Third Bank
		 	201 East Kennedy Boulevard, Suite 1800
		 	Tampa, Florida 33609
		 	Attn:	 	Timothy J. Coop
		 		 	Senior Vice President
		
	with copy to:	 	James B. Soble, Esquire
		 	Ruden McClosky P.A.
		 	401 East Jackson Street, Suite 2700
		 	Tampa, Florida 33602
		
	Borrower:	 	Superior Uniform Group, Inc.
		 	 10055 Seminole Boulevard

Seminole, FL 33772

		 	Attn: Andrew Demott, Jr.
		
	with copy to:	 	 Walter C. “Chet” Little, Esquire

Foley & Lardner LLP
 100 North Tampa
Street, Suite 2700
 Tampa, FL 33602

(b) Any notice, report, demand or other instrument authorized or required to be given or furnished under this Agreement
to Borrower or Lender shall be deemed given or furnished when addressed to the party intended to receive the same, at the above address and delivered at such address (by hand delivery or by expedited courier) or deposited in the United States mail
as first class certified mail, return receipt requested, postage paid, whether or not the same is actually received by such party. 

 (c) Each party may change the address to which any such notice, report,
demand or other instrument is to be delivered or mailed, by furnishing written notice of such change to the other party, but no such notice of change shall be effective unless and until received by such other party. 

(d) Notwithstanding anything in this instrument to the contrary, all requirements of notice shall be deemed inapplicable
if Lender is prevented from giving such notice by bankruptcy or any other applicable law. In such event, the cure period if any, shall then run from the occurrence of the event or condition of default rather than from the date of notice. 

Governing Law. This Agreement shall be governed by and construed according to the laws of the State of Florida. 

[SIGNATURES BEGIN ON FOLLOWING PAGE] 

 IN WITNESS WHEREOF, Borrower and Lender have executed this Loan Agreement as of the day and
year first above written. 
  

							
	Signed, sealed and delivered in our presence:	  	 BORROWER

		
		  	SUPERIOR UNIFORM GROUP, INC., a Florida
	  
	  	corporation
	(Witness Signature)	  		 	
	Print Name:	 	  
	  	By:	 	 /s/ Andrew D. Demott, Jr.

		 		  		 	 Andrew D. Demott, Jr.

	  
	  		 	 Executive President and

	(Witness Signature)	  		 	 Chief Financial Officer

	Print Name:	 	  
	  		 	
			
		 		  	LENDER:
			
		 		  	FIFTH THIRD BANK, an Ohio corporation
	  
	  		 	
	(Witness Signature)	  		 	
	Print Name:	 	  
	  	By:	 	 /s/ Timothy J. Coop

		 		  		 	 Timothy J. Coop

	  
	  	Its:	 	 Senior Vice President

	(Witness Signature)	  		 	
	Print Name:Revolving Line of Credit Promissory Note

 Exhibit 10.2 

 

					
	June 25, 2010	  	 $15,000,000.00
	  	 Tampa, Florida

REVOLVING LINE OF CREDIT PROMISSORY NOTE 

FOR VALUE RECEIVED the undersigned, SUPERIOR UNIFORM GROUP, INC., a Florida corporation, (“Maker”), promises to pay to
the order of FIFTH THIRD BANK, an Ohio corporation, together with any other holder hereof (“Holder”), at 201 East Kennedy Boulevard, Suite 1800, Tampa, Florida 33602 (or such other place as Holder may from time to time designate in
writing, the principal sum of FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00), plus accrued interest, to be paid in lawful money of the United States of America, as follows: 

 

	 	1)	This Note shall bear interest at a variable interest rate equal to 90 basis points (0.9%) above the LIBOR Rate (as hereinafter defined), adjusted monthly.

 “LIBOR Rate” shall be defined as the rate (rounded upward, if necessary, to the
next 1/8th of 1.0%) and adjusted for reserves if Holder is
required to maintain reserves with respect to relevant advances, fixed by the British Bankers Association at 11:00 a.m., London time, relating to quotations for the thirty (30) day London InterBank Offered Rate on U.S. Dollar deposits as
published on Bloomberg LP, or, if no longer provided by Bloomberg LP (“LIBOR Interest Period”), such rate as shall be determined in good faith by the Holder from such sources as it shall determine to be comparable to Bloomberg LP (or any
successor) as determined by Holder at approximately 10:00 a.m. Cincinnati, Ohio time on the first day of a LIBOR Interest Period and which has a maturity corresponding to the maturity of the LIBOR Interest Period. 

 

	 	2)	Commencing on July 24, 2010, and continuing on the 24 day of every month thereafter until the Initial Maturity Date (“Initial Term”), monthly payments of
interest only shall be due and payable. This Note shall mature on June 24, 2013 (the “Initial Maturity Date”) unless Maker is in full compliance with the terms of the Loan Agreement by and between Maker and Holder of even date
herewith and has elected to extend and term-out the principal balance over the subsequent twelve (12) month period. 

In the event Borrower elects to extend and term-out the Loan for an additional twelve (12) month period, Borrower shall notify Lender
of such election in writing not less than thirty (30) days prior to the Initial Maturity Date. 
 In the event Maker has
elected to extend and term-out the principal balance over the subsequent twelve (12) month period, Maker shall continue to make consecutive monthly payments of interest only until June 24, 2014 (the “Extended Maturity Date”).

 In addition to all other amounts due to Lender hereunder and under the Revolving Line of Credit Note, Borrower shall pay to
Lender on the first Business Day of each April, July, October and January, an availability fee equal to 0.15% (15 basis points) per annum on the average daily unused available principal under the Note for the preceding quarter or portion thereof.

  

	 	3)	Interest on this Note shall be computed on the basis of a 360-day year as the case may be for the actual number of days elapsed. 

 

	 	4)	The outstanding principal indebtedness, together with all accrued and unpaid interest thereon, shall be due and payable on the Extended Maturity Date, unless
acceleration is made by Holder pursuant to the provisions hereof. 

  

	 	5)	This Note may be prepaid in whole or in part at any time, without penalty or premium. Any payment or prepayment hereunder shall be applied first to unpaid costs of
collection and late charges, if any, then to accrued and unpaid interest and the balance, if any, to installments of principal, in the inverse order of their maturity. 

 

	 	6)	This Note evidences a revolving line of credit. Proceeds may be disbursed by Holder to Maker, repaid by Maker, and reborrowed by Maker until (i) the Initial
Maturity Date or (ii) an Event of Default, as defined in the Loan Agreement of even date hereof, has occurred, and remain uncured after any required notice and right to cure, under the terms of this Note or any Loan Document. No additional
advances shall be permitted after the Initial Maturity Date. All advances under this Note shall be governed by the terms of the Loan Agreement. Notwithstanding the amount of this Note stated above, the total amount available to borrow under the
terms of this Note shall be limited to the maximum amount set forth in the Loan Agreement. 

	 	7)	After maturity or acceleration, this Note shall bear interest at the Default Interest Rate until paid in full. 

This Note has been executed and delivered in, and is to be governed by and construed under the laws of, the State of Florida, as amended,
except as modified by the laws and regulations of the United States of America. 
 Maker shall have no obligation to pay
interest or payments in the nature of interest in excess of the maximum rate of interest allowed to be contracted for by law, as changed from time to time, applicable to this Note (the “Maximum Rate”). Any interest in excess of the Maximum
Rate paid by Maker (“excess sum”) shall be credited as a payment of principal, or, if Maker so requests in writing, returned to Maker, or, if the indebtedness and other obligations evidenced by this Note have been paid in full, returned to
Maker together with interest at the same rate as was paid by Maker during such period. Any excess sum credited to principal shall be credited as of the date paid to Holder. The Maximum Rate varies from time to time and from time to time there may be
no specific maximum rate. Holder may, without such action constituting a breach of any obligations to Maker, seek judicial determination of the applicable rate of interest, and its obligation to pay or credit any proposed excess sum to Maker.

 The “Default Interest Rate” shall be five percent (5%) over the interest rate set forth in
Section 1 above (the “Contract Rate”), in the event no specific maximum rate is applicable, the Maximum Rate shall be eighteen percent (18%) per annum. Notwithstanding the foregoing, in the event that the Holder shall elect not
to declare this Note immediately due and payable during an Event of Default, including the failure of the Maker or any endorser hereof to provide financial statements as provided or to be provided pursuant to the terms that certain Loan Agreement
dated of even date herewith, the terms and provisions of which are incorporated herein by reference, the Holder shall send written notice of such default to the Maker and, commencing with the thirtieth
(30th) day after mailing of such written notice, the
interest rate which shall thereafter accrue upon the outstanding principal balance of the indebtedness evidenced by this Note shall increase one half of one percent (0.50%) for the first ninety (90) days of said default, and increase an
additional one quarter of one percent (.25%) for each ninety (90) day period thereafter until such time as the Event of Default has been cured (“Modified Default Rate”). Upon the curing of the said Event of Default, the interest rate
which shall thereafter accrue on the outstanding principal balance due under this Note shall be the Contract Rate. 
 Holder
shall have the right to declare the total unpaid balance hereof to be immediately due and payable in advance of the Initial Maturity Date or Extended Maturity Date, where applicable, upon the failure of Maker to pay within ten (10) days when
due any payment of principal or interest or other amount due hereunder; or upon the occurrence of an Event of Default pursuant to any other Loan Document now or hereafter evidencing this Note. Exercise of this right shall be without notice to Maker
or to any other person liable for payment hereof, notice of such exercise being hereby expressly waived. No advances otherwise allowed under the terms of this Note may be requested or made during the existence of any Event of Default. 

Subject to Holder’s exercise of a Modified Default Rate, if any payment is not paid when due (whether by acceleration or otherwise)
or within ten (10) days thereafter, Maker agrees to pay to Holder a late payment fee as provided for in any loan agreement or five percent (5%) of the payment amount whichever is greater with a minimum fee of Twenty and no/100 Dollars
($20.00). After an Event of Default, Maker agrees to pay to Holder a late payment fee of Twenty-Five and no/100 Dollars ($25.00), or Maker agrees that Holder may, without notice, increase the Interest Rate by three percentage points (3%) (the
“Default Rate”), whichever is greater. Holder may impose a non-sufficient funds fee for any check that is presented for payment that is returned for any reason. The parties agree that said charges are a fair and reasonable charge for the
late payment and shall not be deemed a penalty. 
 Time is of the essence hereunder. In the event that this Note is collected by
law or through attorneys at law, or under advice therefrom, Maker agrees to pay all costs of collection, including reasonable attorneys’ fees, whether or not suit is brought, and whether incurred in connection with collection, trial, appeal,
bankruptcy or other creditors’ proceedings or otherwise. 
 Acceptance of partial payments or payments marked “payment
in full” or “in satisfaction” or words to similar effect shall not affect the duty of Maker to pay all obligations due hereunder, and shall not affect the right of Holder to pursue all remedies available to it under any Loan
Documents. 
 The remedies of Holder shall be cumulative and concurrent, and may be pursued singularly, successively or
together, at the sole discretion of Holder, and may be exercised as often as occasion therefor shall arise. No action or omission of Holder, including specifically any failure to exercise or forbearance in the exercise of any remedy, shall be deemed
to be a waiver or release of the same, such waiver or release to be effected only through a written document executed by Holder and then only to the extent specifically recited therein. A waiver or release with reference to any one event shall not
be construed as continuing or as constituting a course of dealing, nor shall it be construed as a bar to, or as a waiver or release of, any subsequent remedy as to a subsequent event. 

 Maker hereby consents and submits to the jurisdiction of the courts of the State of Florida,
and, notwithstanding its place of residence or organization or the place of execution of this Note, any litigation relating hereto, whether arising in contract or tort, by statute or otherwise, shall be brought in (and, if brought elsewhere, may be
transferred to) a State court of competent jurisdiction in, at Holder’s option, Hillsborough County, Florida. 
 Any notice
to be given or to be served upon any party hereto in connection with this Note, whether required or otherwise, may be given in any manner permitted under the Loan Agreement. 

If more than one party shall execute this Note, the term “Maker” shall mean all parties signing this Note, who shall be jointly
and severally obligated hereunder. The term “other person liable for payment hereof” shall include any endorser, guarantor, surety or other person now or hereafter primarily or secondarily liable for the payment of this Note, whether by
signing this or another instrument. 
 Whenever the context so requires, the neuter gender includes the feminine and/or
masculine, as the case may be, and the singular number includes the plural, and the plural number includes the singular. 

Maker hereby (a) expressly waives any valuation and appraisal, presentment, demand for payment, notice of dishonor, protest, notice
of nonpayment or protest, all other forms of notice whatsoever, and diligence in collection; (b) consents that Holder may, from time to time and without notice to any of them or demand, extend, rearrange, renew or postpone any or all payments.

 Holder may request periodically as it deems necessary, complete and current financial statements, balance sheets, profit and
loss statements, and cash flow information for Maker in accordance with the Loan Agreement. 
 Maker understands and agrees that
the jury waiver, and any provision hereby incorporated by reference, constitute agreements of the Maker and a part of this note. Maker acknowledges receipt of a completed copy of this note. 

 JURY WAIVER. MAKER AND HOLDER HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY, AND
IRREVOCABLY WAIVE THE RIGHT EITHER OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION, WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT AND ANY OTHER DOCUMENT
OR INSTRUMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR HOLDER ENTERING INTO
THIS AGREEMENT. FURTHER, MAKER HEREBY CERTIFIES THAT NO REPRESENTATIVE OR AGENT OF HOLDER, NOR THE HOLDER’S COUNSEL, HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT HOLDER WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF
RIGHT TO JURY TRIAL PROVISION. NO REPRESENTATIVE OR AGENT OF THE HOLDER, NOR HOLDER’S COUNSEL HAS THE AUTHORITY TO WAIVE, CONDITION, OR MODIFY THIS PROVISION. 

Maker acknowledges that the above paragraph has been expressly bargained for by Holder as part of the loan evidenced hereby and that, but
for Maker’s agreement and the agreement of any other person liable for payment hereof thereto, Holder would not have extended the loan for the term and with the interest rate provided herein. 

IN WITNESS WHEREOF, Maker has executed this Note on the day and year first above written. 

 

					
	Address of Maker:	  	MAKER:
		
	10055 Seminole Boulevard	  	SUPERIOR UNIFORM GROUP, INC., a Florida corporation
	Seminole, Florida 33772	  		 	
			
		  	By:	 	 /S/ Andrew D. Demott, Jr.

		  		 	 Andrew D. Demott, Jr.

		  		 	 Executive Vice President and Chief Financial Officer

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