Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                SECOND AMENDMENT
                                       OF
                SUBORDINATED NOTE AND WARRANT PURCHASE AGREEMENT

         This Second Amendment, dated effective as of February 10, 2003, by and
among CROWN CRAFTS, INC. (the "Company"), and BANC OF AMERICA STRATEGIC
SOLUTIONS, INC. (assignee of Bank of America, N.A.), THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA, and WACHOVIA BANK, NATIONAL ASSOCIATION (successor by merger
to Wachovia Bank, N.A.) (collectively, the "Purchasers").

         WHEREAS, the parties hereto have executed and delivered that certain
Subordinated Note and Warrant Purchase Agreement dated as of July 23, 2001, as
amended by First Amendment of Subordinated Note and Warrant Purchase Agreement
dated as of September 28, 2001 (as so amended, the "PURCHASE AGREEMENT");

         WHEREAS, the Company has requested a modification of, among other
things, the covenants under the Purchase Agreement;

         WHEREAS, the Purchasers are willing to enter into this Amendment
subject to the satisfaction of conditions and terms set forth herein;

         WHEREAS, capitalized terms used herein and not otherwise defined shall
have the meanings set forth in the Purchase Agreement; and

         NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

1.                AMENDMENTS TO PURCHASE AGREEMENT.

         lA. SECTION 1.01 OF THE PURCHASE AGREEMENT. Section 1.01 of the
Purchase Agreement is amended by deleting the definitions of the following terms
in their entirety and substituting the following definitions therefor:

                  "CONSOLIDATED AVAILABLE FREE CASH FLOW" means, for each Annual
         Period, an amount equal to 85% of Consolidated Free Cash Flow for such
         Annual Period.

                  "CONSOLIDATED EBITDA" shall mean the sum of the following,
         calculated on a consolidated basis in accordance with GAAP for the
         Company and its Consolidated Subsidiaries, for the relevant fiscal
         period: (i) Consolidated Net Income; plus (ii) depreciation and
         amortization expenses; plus (iii) Consolidated Interest Expense; plus
         (iv) income tax expense included in Consolidated Net Income; plus (v)
         for the following Fiscal Quarters only, a before-tax reserve related to
         the closing of the operations of Burgundy Interamericana SA de CV, not
         exceeding the following amounts for the
<PAGE>
         following Fiscal Quarters (1) for the Fiscal Quarter ending December
         29, 2002, $1,775,000, (2) for the Fiscal Quarter ending March 30, 2003,
         $225,000 and (3) for the Fiscal Quarter ending June 29, 2003, $275,000.

         lB.      SECTION 8.01(a) OF THE PURCHASE AGREEMENT. Section 8.01(a) of
the Purchase Agreement is amended by deleting it in its entirety and
substituting the following therefor:

                  (a)      Minimum EBITDA. Consolidated EBITDA shall not be less
         than, for each Fiscal Quarter set forth below and the 3 immediately
         preceding Fiscal Quarters, the amount set forth below corresponding to
         such Fiscal Quarter:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
         FISCAL QUARTER ENDING                         MINIMUM EBITDA

-----------------------------------------    -----------------------------------
<S>                                          <C>
December 29, 2002 through                    $    6,885,000
March 30, 2004

-----------------------------------------    -----------------------------------
June 29, 2004 and each Fiscal Quarter        An amount to be agreed upon in
thereafter                                   writing by the parties, not to
                                             exceed $8,725,000 (which amount
                                             shall be applicable if no other
                                             amount has been agreed upon in
                                             writing)
-----------------------------------------    -----------------------------------
</TABLE>

         lC.      SECTION 8.01(b) OF THE PURCHASE AGREEMENT. Section 8.01(b) of
the Purchase Agreement is amended by deleting it in its entirety and
substituting the following therefor:

                  (b)      Debt/EBITDA Ratio. The Debt/EBITDA Ratio will not
         exceed, at the end of each Fiscal Quarter set forth below, calculated
         as to Debt as of such Fiscal Quarter and calculated as to Consolidated
         EBITDA for such Fiscal Quarter and the 3 immediately preceding Fiscal
         Quarters, the ratio set forth below corresponding to such Fiscal
         Quarter:

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
         FISCAL QUARTER ENDING                       MAXIMUM DEBT/EBITDA RATIO

-----------------------------------------    ---------------------------------------
<S>                                          <C>
December 29, 2002 through March 30, 2004     4.75 to 1.0

-----------------------------------------    ---------------------------------------
June 29, 2004 and each Fiscal Quarter        A ratio to be agreed upon in writing by
thereafter                                   the parties, not to exceed 3.00 to 1.0
                                             (which ratio shall be applicable if no
                                             other ratio has been agreed upon in
                                             writing)
-----------------------------------------    ----------------------------------------
</TABLE>

                                        2
<PAGE>
2.                Consent to Discontinuance of Operations and Disposition of
         Assets. The Company has informed the Purchasers that they desire to
         discontinue the operations of Burgundy Interamericana SA de CV and
         dispose of the assets thereof, having a net book value of approximately
         $1,015,835 and a resale value of approximately $343,483. Pursuant to
         the provisions of Section 7.02(b) of the Purchase Agreement, the
         Purchasers hereby consent to such discontinuance and also to the sale
         of such assets, and acknowledge and agree that the foregoing shall not
         be deemed to be an Event of Default; provided that the aggregate gross
         sales price thereof is not less than $300,000.

3.                CONDITIONS OF EFFECTIVENESS. This Amendment shall be effective
         as of February 10, 2003 (the "EFFECTIVE DATE"), upon the satisfaction
         of the following conditions:

         (a)      the Purchasers shall have received executed originals of this
                  Amendment and the Third Amendment, satisfactory to the
                  Required Holders in all respects, to the Credit Agreement,
                  dated as of July 23, 2001, among the Company, Churchill
                  Weavers, Inc., Hamco, Inc. and Crown Crafts Infant Products,
                  Inc., as borrowers, Wachovia Bank, National Association
                  (successor by merger to Wachovia Bank, N.A.), as agent, and
                  Wachovia Bank, National Association (successor by merger to
                  Wachovia Bank, N.A.), Banc of America Strategic Solutions,
                  Inc. (assignee of Bank of America, N.A.) and The Prudential
                  Insurance Company of America, as lenders, each agreement being
                  dated the Effective Date, in form and substance satisfactory
                  to the Purchasers.

         (b)      The Company shall have paid all costs and expenses (including
                  attorney's fees and expenses) incurred by any Purchaser
                  through the Effective Date, pursuant to statements submitted
                  to the Company (which statements may include estimates of time
                  and expenses to be incurred on and after the dates of posting
                  of actual time and expenses set forth therein, which estimated
                  amounts shall be subject to subsequent adjustment to reflect
                  actual time and expenses subsequently posted).

         (c)      The representations and warranties contained herein shall be
                  true on and as of the date hereof; there shall exist on the
                  date hereof, after giving effect to this Amendment, no Event
                  of Default or Default; there shall exist no material adverse
                  change in the business, properties, prospects, operations or
                  condition, financial or otherwise, of the Company or its
                  Subsidiaries since March 31, 2002 other than (i) the
                  discontinuance of the operations of Burgundy Interamericana SA
                  de CV, as set forth in Paragraph 2 hereof, or (ii) as reported
                  by the Company in its quarterly reports on Form 10-Q filed
                  with the Securities and Exchange Commission for quarterly
                  periods subsequent to March 31, 2002; and the Company shall
                  have delivered to the Purchasers a certificate signed by a
                  senior officer of the Company to such effect.

4.                REPRESENTATIONS, WARRANTIES AND COVENANTS.

         (a)      The Company hereby restates and renews each of the
                  representations and warranties made by it in the Purchase
                  Agreement, as amended hereby, as though made on and as of the
                  date hereof, with each reference therein to "this

                                        3
<PAGE>
                  Agreement", "hereof', "hereunder", "thereof', "thereunder" and
                  words of like import being deemed to be a reference to the
                  Purchase Agreement as amended hereby.

         (b)      The Company further represents and warrants as follows:

                  (i)      The execution, delivery and performance by the
                           Company of this Amendment are within its corporate
                           powers, have been duly authorized by all necessary
                           corporate action and do not contravene (A) its
                           charter or by-laws, (B) law or (C) any legal or
                           contractual restriction binding on or affecting the
                           Company; and such execution, delivery and performance
                           do not or will not result in or require the creation
                           of any Lien upon or with respect to any of the
                           properties of the Company or any of its Subsidiaries.

                  (ii)     No governmental approval is required for the due
                           execution, delivery and performance by the Company of
                           this Amendment, except for such governmental
                           approvals as have been duly obtained or made and
                           which are in full force and effect on the date hereof
                           and not subject to appeal.

                  (iii)    Each of this Amendment and the Notes constitutes the
                           legal, valid and binding obligations of the Company
                           enforceable against the Company in accordance with
                           their respective terms.

                  (iv)     There are no pending or threatened actions, suits or
                           proceedings affecting the Company or any of its
                           Subsidiaries or the properties of the Company or any
                           of its Subsidiaries before any court, governmental
                           agency or arbitrator, that may, if adversely
                           determined, materially adversely effect the financial
                           condition, properties, business, operations or
                           prospects of the Company and it Subsidiaries,
                           considered as a whole, or affect the legality,
                           validity or enforceability of the Purchase Agreement,
                           as amended by this Amendment.

5.       MISCELLANEOUS.

         5A.      REFERENCE TO AND EFFECT ON THE PURCHASE AGREEMENT. (a) Upon
the effectiveness of this Amendment, on and after the date hereof each reference
in the Purchase Agreement to "this Agreement", "hereunder", "hereof' or words of
like import referring to the Purchase Agreement, and each reference in any other
document to "the Purchase Agreement", "thereunder", "thereof' or words of like
import referring to the Purchase Agreement, shall mean and be a reference to the
Purchase Agreement, as amended hereby.

         (b)      Except as specifically amended above, the Purchase Agreement,
and all other related documents, are and shall continue to be in full force and
effect and are hereby in all respects ratified and confirmed.

         (c)      The execution, delivery and effectiveness of this Amendment
shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any holder of a

                                        4
<PAGE>
Note under the Purchase Agreement or the Notes, nor constitute a waiver of any
provision of any of the foregoing.

         5B.      COSTS AND EXPENSES. The Company agrees to pay on demand all
costs and expenses incurred by the Purchasers or any other holder of a Note in
connection with the preparation, execution and delivery of this Amendment,
including, without limitation, the reasonable fees and out-of-pocket expenses of
counsel. The Company further agrees to pay on demand all costs and expenses, if
any (including, without limitation, reasonable counsel fees and expenses of
counsel), incurred by the Purchasers or any other any holder of a Note in
connection with the enforcement (whether through negotiations, legal proceedings
or otherwise) of this Amendment, including, without limitation, counsel fees and
expenses in connection with the enforcement of rights under this paragraph 4B.

         5C.      EXECUTION IN COUNTERPARTS. This Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute but one and the
same instrument.

         5D.      GOVERNING LAW. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

         5E.      NO DEFAULT OR CLAIMS. To induce the Purchasers to enter into
this Amendment, the Company hereby acknowledges and agrees that, as of the date
hereof, and after giving effect to the terms hereof, there exists (i) no Default
or Event of Default, (ii) no right of offset, recoupment, defense, counterclaim,
claim or objection in favor of the Company arising out of or with respect to any
of the Notes or other obligations of the Company owed to any holder of a Note,
and (iii) each Purchaser has acted in good faith and has conducted its
relationships with the Company in a commercially reasonable manner in connection
with the negotiations, execution and delivery of this Amendment and in all
respects in connection with the Purchase Agreement, the Company hereby waiving
and releasing any such claims to the contrary that may exist as of the date of
this Amendment.

                            [Signatures on Next Page]

                                       5
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                               CROWN CRAFTS, INC.

                               By /s/ Amy Vidrine Samson
                                  ______________________________
                                  Name: Amy Vidrine Samson
                                  Title: Vice President,
                                         Chief Financial Officer

                               BANC OF AMERICA STRATEGIC SOLUTIONS, INC.
                               (ASSIGNEE OF BANK OF AMERICA, N.A.)

                               By /s/ John F. Register
                                  ______________________________
                                  Name: John F. Register
                                  Title: Principal

                               THE PRUDENTIAL INSURANCE
                                  COMPANY OF AMERICA

                               By /s/ Paul G. Price
                                  ______________________________
                                  Name: Paul G. Price
                                  Title: Vice President

                               WACHOVIA BANK, NATIONAL ASSOCIATION (SUCCESSOR BY
                               MERGER TO WACHOVIA BANK, N.A.)

                               By /s/ Monica H. Cole
                                  ______________________________
                                  Name: Monica H. Cole
                                  Title: Vice President

                                        6<PAGE>

                                                                    EXHIBIT 10.2

                       THIRD AMENDMENT TO CREDIT AGREEMENT

         THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this "Third Amendment") is
dated as of the 10th day of February, 2003 among CROWN CRAFTS, INC., CHURCHILL
WEAVERS, INC., HAMCO, INC. and CROWN CRAFTS INFANT PRODUCTS, INC. (collectively,
the "Borrowers"), WACHOVIA BANK, NATIONAL ASSOCIATION (successor by merger to
Wachovia Bank, N.A.), as Agent (the "Agent") and WACHOVIA BANK, NATIONAL
ASSOCIATION (successor by merger to Wachovia Bank, N.A.), BANC OF AMERICA
STRATEGIC SOLUTIONS, INC. (assignee of Bank of America, N.A.) and THE PRUDENTIAL
INSURANCE COMPANY OF AMERICA, as Lenders (collectively, the "Lenders");

                              W I T N E S S E T H :

         WHEREAS, the Borrowers, the Agent and the Lenders executed and
delivered that certain Credit Agreement, dated as of July 23, 2001, as amended
by First Amendment to Credit Agreement dated as of September 28, 2001 and Second
Amendment to Credit Agreement dated as of November 25, 2002 (as so amended, the
"Credit Agreement");

         WHEREAS, the Borrowers, the Agent and the Lenders have agreed to
certain amendments to the Credit Agreement, subject to the terms and conditions
hereof;

         NOW, THEREFORE, for and in consideration of the above premises and
other good and valuable consideration, the receipt and sufficiency of which
hereby is acknowledged by the parties hereto, the Borrowers, the Agent and the
Lenders hereby covenant and agree as follows:

         1. Definitions. Unless otherwise specifically defined herein, each term
used herein which is defined in the Credit Agreement shall have the meaning
assigned to such term in the Credit Agreement. Each reference to "hereof",
"hereunder", "herein" and "hereby" and each other similar reference and each
reference to "this Agreement" and each other similar reference contained in the
Credit Agreement shall from and after the date hereof refer to the Credit
Agreement as amended hereby.

         2. Amendments to SECTION 1.01. SECTION 1.01 of the Credit Agreement
hereby is amended by deleting the definitions of "Consolidated Available Free
Cash Flow" and "Consolidated EBITDA", and substituting therefor the following
new definitions of such terms:

                  "Consolidated Available Free Cash Flow" means, for each Annual
         Period, an amount equal to 85% of Consolidated Free Cash Flow for such
         Annual Period.

                  "Consolidated EBITDA" means the sum of the following,
         calculated on a consolidated basis in accordance with GAAP for the
         Parent and its Consolidated Subsidiaries, for the relevant fiscal
         period: (i) Consolidated Net Income; plus (ii) depreciation and
         amortization expenses; plus (iii) Consolidated Interest Expense; plus
         (iv) income tax expense included in Consolidated Net Income; plus (v)
         for the following Fiscal Quarters only, a before-tax reserve related to
         the closing of the operations of Burgundy
<PAGE>
         Interamericana SA de CV, not exceeding the following amounts for the
         following Fiscal Quarters (1) for the Fiscal Quarter ending December
         29, 2002, $1,775,000, (2) for the Fiscal Quarter ending March 30, 2003,
         $225,000 and (3) for the Fiscal Quarter ending June 29, 2003, $275,000.

         3. Amendment to SECTION 5.20(a). SECTION 5.20(a) hereby is deleted in
its entirety, and the following is substituted therefor:

                  (a) Minimum EBITDA. Consolidated EBITDA shall not be less
         than, for each Fiscal Quarter set forth below and the 3 immediately
         preceding Fiscal Quarters, the amount set forth below corresponding to
         such Fiscal Quarter:

<TABLE>
<CAPTION>
----------------------------------------   -------------------------------------
        FISCAL QUARTER ENDING                        MINIMUM EBITDA
----------------------------------------   -------------------------------------
<S>                                        <C>
December 29, 2002 through March 30, 2004   $6,885,000

----------------------------------------   -------------------------------------
June 29, 2004 and each Fiscal Quarter      An amount to be agreed upon in
thereafter                                 writing by the parties, not to
                                           exceed $8,725,000 (which amount
                                           shall be applicable if no other
                                           amount has been agreed upon in
                                           writing)
----------------------------------------   -------------------------------------
</TABLE>

         4. Amendment to SECTION 5.20(b). SECTION 5.20(b) hereby is deleted in
its entirety, and the following is substituted therefor:

                  (b) Debt/EBITDA Ratio. The Debt/EBITDA Ratio will not exceed,
         at the end of each Fiscal Quarter set forth below, calculated as to
         Debt as of such Fiscal Quarter and calculated as to Consolidated EBITDA
         for such Fiscal Quarter and the 3 immediately preceding Fiscal
         Quarters, the ratio set forth below corresponding to such Fiscal
         Quarter:

<TABLE>
<CAPTION>
-------------------------------------------- ------------------------------------------
         FISCAL QUARTER ENDING                      MAXIMUM DEBT/EBITDA RATIO

------------------------------------------   ------------------------------------------
<S>                                          <C>
December 29, 2002 through March 30, 2004     4.75 to 1.0

------------------------------------------   ------------------------------------------
June 29, 2004 and each Fiscal Quarter        A ratio to be agreed upon in writing by
thereafter                                   the parties, not to exceed 3.00 to 1.0
                                             (which ratio shall be applicable if no
                                             other ratio has been agreed upon in
                                             writing)
------------------------------------------   ------------------------------------------
</TABLE>

         5. Amendment to Exhibit G (Compliance Certificate). Exhibit G to the
Credit Agreement hereby is deleted in its entirety, and Exhibit G attached
hereto is substituted therefor.

         6. Amendment to Exhibit R (Consolidated Excess Cash Flow Certificate).
Exhibit R to the Credit Agreement hereby is deleted in its entirety, and Exhibit
R attached hereto is substituted therefor.

         7. Consent to Discontinuance of Operations and Disposition of Assets.
The Borrowers have informed the Agent and the Lenders that they desire to
discontinue the operations of Burgundy Interamericana SA de CV and dispose of
the assets thereof, having a net book value of

                                        2
<PAGE>
approximately $1,015,835 and a resale value of approximately $343,483. Pursuant
to the provisions of SECTION 5.05(b) of the Credit Agreement, the Agent and the
Lenders hereby consent to such discontinuance and also to the sale of such
assets, and acknowledge and agree that the foregoing shall not be deemed to be
an Event of Default; provided that (i) the aggregate gross sales price thereof
is not less than $300,000 and (ii) the Net Cash Proceeds, if any, from such sale
are paid to the Agent for application to Term Loans pursuant to SECTION 2.10(c)
of the Credit Agreement.

         8. Restatement of Representations and Warranties. The Borrowers hereby
restate and renew each and every representation and warranty heretofore made by
them in the Credit Agreement and the other Loan Documents as fully as if made on
the date hereof (except where reference is expressly made to a specific date)
and with specific reference to this Third Amendment and all other loan documents
executed and/or delivered in connection herewith.

         9. Effect of Amendment. Except as set forth expressly hereinabove, all
terms of the Credit Agreement and the other Loan Documents shall be and remain
in full force and effect, and shall constitute the legal, valid, binding and
enforceable obligations of the Borrowers. The amendments contained herein shall
be deemed to have prospective application only, unless otherwise specifically
stated herein.

         10. Ratification. The Borrowers hereby restate, ratify and reaffirm
each and every term, covenant and condition set forth in the Credit Agreement
and the other Loan Documents effective as of the date hereof.

         11. Counterparts. This Third Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed to be an original and all
of which counterparts, taken together, shall constitute but one and the same
instrument.

         12. Section References. Section titles and references used in this
Third Amendment shall be without substantive meaning or content of any kind
whatsoever and are not a part of the agreements among the parties hereto
evidenced hereby.

         13. No Default. To induce the Agent and the Lenders to enter into this
Third Amendment and to continue to make advances pursuant to the Credit
Agreement, the Borrowers hereby acknowledge and agree that, as of the date
hereof, and after giving effect to the terms hereof, (i) there exists no Default
or Event of Default, (ii) there exists no right of offset, defense,
counterclaim, claim or objection in favor of the Borrowers arising out of or
with respect to any of the Loans or other obligations of the Borrowers owed to
the Lenders under the Credit Agreement and (iii) the Agent and each Lender has
acted in good faith and has conducted its relationships with the Borrowers in a
commercially reasonable manner in connection with the negotiations, execution
and delivery of this Third Amendment and in all respects in connection with the
Credit Agreement, each of the Borrowers hereby waiving and releasing any such
claims to the contrary that may exist as of the date of this Third Amendment.

         14. Further Assurances. The Borrowers agree to take such further
actions as the Agent shall reasonably request in connection herewith to evidence
the amendments herein contained.

                                        3
<PAGE>
         15. Governing Law. This Third Amendment shall be governed by and
construed and interpreted in accordance with, the laws of the State of Georgia.

         16. Conditions Precedent. This Third Amendment shall become effective
only upon (i) payment to the Agent, for the ratable account of the Lenders, of
an amendment fee equal to $25,000, (ii) execution and delivery of this Third
Amendment by each of the parties hereto and (iii) execution and delivery by all
parties thereto of a Second Amendment of Subordinated Note and Warrant Purchase
Agreement in form and substance satisfactory to the Agent and the Lenders,
amending the Senior Subordinated Notes Purchase Agreement to conform it to the
changes contained in Sections 2, 3, 4 and 5 hereof, and consenting to the
discontinuance of the operations of Burgundy Interamericana SA de CV and
disposal of the assets thereof described in Section 8 hereof.

                       [SIGNATURES COMMENCE ON NEXT PAGE]

                                        4
<PAGE>
         IN WITNESS WHEREOF, each of the Borrowers, the Agent and each of the
Lenders has caused this Third Amendment to be duly executed, under seal, by its
duly authorized officer as of the day and year first above written.

                            CROWN CRAFTS, INC.,                           (SEAL)

                            By: /s/ Amy Vidrine Samson
                                ______________________________
                                Name: Amy Vidrine Samson
                                      ________________________
                                Title: Vice President,
                                       Chief Financial Officer
                                       _______________________

                            CHURCHILL WEAVERS, INC.,
                            HAMCO, INC.
                            CROWN CRAFTS INFANT
                               PRODUCTS, INC.                             (SEAL)

                            By: /s/ Amy Vidrine Samson
                                ______________________________
                                Name: Amy Vidrine Samson
                                      ________________________
                                Title: Vice President
                                       _______________________

                            WACHOVIA BANK, NATIONAL
                            ASSOCIATION (successor by merger
                            to Wachovia Bank, N.A.),                      (SEAL)
                            as Agent and as a Lender

                            By: /s/ Monica H. Cole
                                ______________________________
                                Name: Monica H. Cole
                                      ________________________
                                Title: Vice President
                                       _______________________

                                       5
<PAGE>
                            BANC OF AMERICA STRATEGIC SOLUTIONS,
                            INC. (assignee of Bank of America, N.A.),    (SEAL)
                            as a Lender

                            By: /s/ John F. Register
                                ________________________________
                                Name: John F. Register
                                      __________________________
                                Title: Principal
                                       _________________________

                            THE PRUDENTIAL INSURANCE (SEAL)
                            COMPANY OF AMERICA, as a Lender

                            By: /s/ Paul G. Price
                                ________________________________
                                Name: Paul G. Price
                                      __________________________
                                Title: Vice President
                                       _________________________

                                        6
<PAGE>
                                                                       EXHIBIT G

                             COMPLIANCE CERTIFICATE

         Reference is made to the Credit Agreement dated as of July 23, 2001, as
amended by First Amendment to Credit Agreement dated as of September 28, 2001,
Second Amendment to Credit Agreement dated as of November 25, 2002 and Third
Amendment to Credit Agreement dated as of February 10, 2003 (as so amended and
as thereafter modified and supplemented and in effect from time to time, the
"Credit Agreement") by and among Crown Crafts, Inc., Churchill Weavers, Inc.,
Hamco, Inc. and Crown Crafts Infant Products, Inc. (collectively or
individually, as the context shall require, the "Borrowers"), the Lenders from
time to time parties thereto, and Wachovia Bank, National Association (successor
by merger to Wachovia Bank, N.A.), as Agent. Capitalized terms used herein shall
have the meanings ascribed thereto in the Credit Agreement.

         Pursuant to SECTION 5.01(c) of the Credit Agreement, ________________,
the duly authorized ______________ of the Borrowers, hereby certifies to the
Agent and the Lenders that, as of the date hereof, (i) the information contained
in the Compliance Certificate attached hereto is true, accurate and complete in
all material respects and (ii) no Default is in existence.

CROWN CRAFTS, INC.                            CHURCHILL WEAVERS, INC.
                                              HAMCO, INC.
                                              CROWN CRAFTS INFANT PRODUCTS, INC.

BY: ___________________     (SEAL)            BY: ___________________     (SEAL)
    NAME:                                         NAME:
    TITLE:                                        TITLE:

                                        7
<PAGE>
                               CROWN CRAFTS, INC.
                              COMPLIANCE CHECKLIST

1.       Minimum EBITDA (Section 5.20(a))

         Consolidated EBITDA shall not be less than, for each Fiscal Quarter set
forth below and the 3 immediately preceding Fiscal Quarters, the amount set
forth below corresponding to such Fiscal Quarter:

<TABLE>
<CAPTION>
----------------------------------------   -------------------------------------
        FISCAL QUARTER ENDING                        MINIMUM EBITDA

----------------------------------------   -------------------------------------
<S>                                        <C>
December 29, 2002 through March 30, 2004   $  6,885,000

----------------------------------------   -------------------------------------
June 29, 2004 and each Fiscal Quarter      An amount to be agreed upon in
thereafter                                 writing by the parties, not to
                                           exceed $8,725,000 (which amount
                                           shall be applicable if no other
                                           amount has been agreed upon in
                                           writing)
----------------------------------------   -------------------------------------
</TABLE>

         (a)      Consolidated EBITDA    Schedule 1                $___________

         Minimum Consolidated EBITDA                               [$6,885,000]
                                                                   [$8,725,000]
                                                                   [other agreed
                                                                   amount]]

2.       Debt/EBITDA Ratio (Section 5.20(b))

         The Debt/EBITDA Ratio will not exceed, at the end of each Fiscal
Quarter set forth below, calculated as to Debt as of such Fiscal Quarter and
calculated as to Consolidated EBITDA for such Fiscal Quarter and the 3
immediately preceding Fiscal Quarters, the ratio set forth below corresponding
to such Fiscal Quarter:

<TABLE>
<CAPTION>
-----------------------------------------    -----------------------------------
        FISCAL QUARTER ENDING                   MAXIMUM DEBT/EBITDA RATIO

-----------------------------------------    -----------------------------------
<S>                                          <C>
December 29, 2002 through March 30, 2004     4.75 to 1.0

-----------------------------------------    -----------------------------------
June 29, 2004 and thereafter                 A ratio to be agreed upon in
                                             writing by the parties, not to
                                             exceed 3.00 to 1.0 (which ratio
                                             shall be applicable if no other
                                             ratio has been agreed upon in
                                             writing)
-----------------------------------------    -----------------------------------
</TABLE>

(a)      Consolidated Debt        Schedule 2                      $___________

                                        8
<PAGE>
(b)      Consolidated EBITDA      Schedule 1                       $___________

(c)      actual ratio of (a) to (b)                                 ___ to 1.00

                        Limitation:            (c) may not exceed [4.75 to 1.0]
                                                                  [3.00 to 1.0]
                                                           [other agreed ratio]

3.       Senior Debt/EBITDA Ratio (Section 5.20(c))

The Senior Debt/EBITDA Ratio will not exceed, at the end of each Fiscal Quarter
set forth below, calculated as to Senior Debt as of such Fiscal Quarter and
calculated as to Consolidated EBITDA for such Fiscal Quarter and the 3
immediately preceding Fiscal Quarters (except that for the Fiscal Quarter ending
March 31, 2002, such calculation shall be for such Fiscal Quarter and the 2
immediately preceding Fiscal Quarters), the ratio set forth below corresponding
to such Fiscal Quarter:

<TABLE>
<CAPTION>
----------------------------------------   ---------------------------------
         FISCAL QUARTER ENDING                MAXIMUM SENIOR DEBT/EBITDA
                                                       RATIO
----------------------------------------   ---------------------------------
<S>                                        <C>
         March 31, 2002                             4.80 to 1.0

----------------------------------------   --------------------------------
         June 30, 2002                              3.50 to 1.0

---------------------------------------    --------------------------------
         September 29, 2002                         3.25 to 1.0

----------------------------------------   --------------------------------
         December 29, 2002                          3.00 to 1.0

----------------------------------------   --------------------------------
         March 30, 2003                             2.75 to 1.0

----------------------------------------   --------------------------------
         June 29, 2003 and September 28,            2.50 to 1.0
         2003

----------------------------------------   --------------------------------
         December 28, 2003                          2.25 to 1.0

----------------------------------------   --------------------------------
         March 28, 2004 through                     2.00 to 1.0
         September 26, 2004

----------------------------------------   --------------------------------
         December 26, 2004                          1.75 to 1.0

----------------------------------------   --------------------------------
         March 27, 2005 and thereafter              1.50 to 1.00
----------------------------------------   --------------------------------
</TABLE>

(a)      Consolidated Senior Debt     Schedule 2                   $___________

(b)      Consolidated EBITDA          Schedule 1                   $___________

                                        9
<PAGE>
(c)      actual ratio of (a) to (b)                                  ___ to 1.00

                                 Limitation:    (c) may not exceed [4.80 to 1.0]
                                                                   [3.50 to 1.0]
                                                                   [3.25 to 1.0]
                                                                   [3.00 to 1.0]
                                                                   [2.75 to 1.0]
                                                                   [2.50 to 1.0]
                                                                   [2.25 to 1.0]
                                                                   [2.00 to 1.0]
                                                                   [1.75 to 1.0]
                                                                   [1.50 to 1.0]

4.       EBITDA/Cash Interest Ratio (Section 5.20(d))

The EBITDA/Cash Interest Ratio will not be less than, at the end of each Fiscal
Quarter set forth below, for such Fiscal Quarter and the 3 immediately preceding
Fiscal Quarters (except that for the Fiscal Quarter ending March 31, 2002, such
calculation shall be for such Fiscal Quarter and the 2 immediately preceding
Fiscal Quarters), the amount set forth below corresponding to such Fiscal
Quarter:

<TABLE>
<CAPTION>
----------------------------------------   -------------------------------------
FISCAL QUARTER ENDING                       MINIMUM EBITDA/CASH INTEREST RATIO
----------------------------------------   -------------------------------------
<S>                                        <C>

March 31, 2002                                        1.60 to 1.0

----------------------------------------   -------------------------------------
June 30, 2002                                         1.65 to 1.0

----------------------------------------   -------------------------------------
September 29, 2002                                    1.80 to 1.0

----------------------------------------   -------------------------------------
December 29, 2002                                     2.00 to 1.0

----------------------------------------   -------------------------------------
March 30, 2003                                        2.20 to 1.0

----------------------------------------   -------------------------------------
June 29, 2003 through                                 2.25 to 1.0
December 28, 2003

----------------------------------------   -------------------------------------
March 28, 2004 through                                2.50 to 1.0
December 26, 2004

----------------------------------------   -------------------------------------
March 27, 2005 through                                2.75 to 1.0
December 25, 2005

----------------------------------------   -------------------------------------
April 2, 2006                                         3.00 to 1.00

----------------------------------------   -------------------------------------
</TABLE>

(a)      Consolidated EBITDA       Schedule 1                       $___________

                                       10
<PAGE>
(b)      Cash Interest Schedule 3                                   $___________

(c)      actual ratio of (a) to (b)                                 ___ to 1.00

                                Limitation:     (c) may not exceed [1.60 to 1.0]
                                                                   [1.65 to 1.0]
                                                                   [1.80 to 1.0]
                                                                   [2.00 to 1.0]
                                                                   [2.20 to 1.0]
                                                                   [2.25 to 1.0]
                                                                   [2.50 to 1.0]
                                                                   [2.75 to 1.0]
                                                                   [3.00 to 1.0]

5.       Minimum Stockholders' Equity (Section 5.20(e))

As of the end of each Fiscal Quarter, Stockholders' Equity will not be less than
the sum of (i) Stockholders' Equity as of the Closing Date (after giving effect
to the sale of its adult bedding line of business to its former management) plus
(ii) 75% of the cumulative (since the Closing Date) Reported Net Income
(excluding any Fiscal Quarter during which Reported Net Income is less than
$0.00) of the Parent and the Subsidiaries.

(a)      Stockholders' Equity                                       $___________

(b)      Cumulative positive Reported Net Income since
         the Closing Date                                           $___________

(c)      75% of (b)                                                 $___________

(d)      sum of (c) and $___________(1)                             $___________

         Limitation:       (a) must not be less than (d)

6.       Capital Expenditures (Section 5.20(f))

No Borrower shall, nor shall it permit any Subsidiary to, make any expenditures
(including obligations incurred under any lease) in any Fiscal Year that are
required to be capitalized under GAAP in the aggregate for any Borrower and the
Subsidiaries, on a consolidated basis, exceeding $500,000.

(a)      aggregate Capital Expenditures made to date in current
         Fiscal Year                                               $____________

         Limitation:       (a) may not exceed $500,000

----------------------
(1) Insert amount of Stockholders' Equity as of the Closing Date

                                       11
<PAGE>
7.       Operating Leases (Section 5.20(g))

No Borrower shall, nor shall it permit any Subsidiary to, enter into or remain
or become liable upon any lease (other than intercompany leases between the
Borrower and its Subsidiaries) which would be characterized as an operating
lease under GAAP if the aggregate amount of all consolidated rents paid by the
Borrower and its Subsidiaries under all such leases would exceed $3,000,000 in
the first Fiscal Year following the Closing Date, with such amount increasing
each Fiscal Year thereafter by an additional 5% of the amount in effect at the
end of the preceding Fiscal Year.

(a)      aggregate amount of consolidated rents payable in current
         Fiscal Year                                                $___________

         Limitation:       (a) may not exceed [$3,000,000](2)

----------------------------
(2) Increase after the first Fiscal Year by an additional 5% of the amount in
effect at the end of the preceding Fiscal Year

                                       12
<PAGE>
                                   Schedule 1

                               CONSOLIDATED EBITDA

<TABLE>
<S>      <C>                                                      <C>
(a)      Consolidated Net Income for:

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

(b)      depreciation and amortization expenses for:

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

(c)      Consolidated Interest Expense for:

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

(d)      income tax expense included in Consolidated Net
         Income for:

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________
</TABLE>

                                       13
<PAGE>
<TABLE>
<S>      <C>                                                      <C>
(e)      before-tax reserve related to the closing of the
         operations of Burgundy Interamericana SA de CV for:(3)
         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________

         ____ quarter ____                                        $___________
</TABLE>

--------------------
(3) Include only for the following Fiscal Quarters, not exceeding following
amounts for such Fiscal Quarters: (1) for the Fiscal Quarter ending December 29,
2002, $1,775,000, (2) for the Fiscal Quarter ending March 30, 2003, $225,000 and
(3) for the Fiscal Quarter ending June 29, 2003, $275,000

                                       14
<PAGE>
                                   Schedule 2

                 CONSOLIDATED DEBT AND CONSOLIDATED SENIOR DEBT

                               CONSOLIDATED DEBT(4)

<TABLE>

<S>       <C>                                                                    <C>
(a)       obligations for borrowed money                                         $__________

(b)       payment obligations evidenced by bonds, debentures notes or            $__________
          other similar instruments

(c)       obligations to pay the deferred purchase price of property or          $__________
          services, except trade accounts payable and accrued expenses
          arising in the ordinary course of business

(d)       obligations as lessee under capital leases or leases for               $__________
          which the Borrowers Person retain tax ownership of the
          property subject to a lease

(e)       obligations to reimburse any bank or other Person in respect           $__________
          of amounts payable under a banker's acceptance

(f)       Redeemable Preferred Stock                                             $__________

(g)       obligations to reimburse any bank or other Person in respect           $__________
          of amounts paid or undrawn amounts available to be paid under
          a letter of credit or similar instrument

(h)       Debt of others secured by a Lien on any asset of any                   $__________
          Borrower, whether or not such Debt is assumed by such Borrower

(i)       obligations with respect to interest rate protection                   $__________
          agreements, foreign currency exchange agreements or other
          hedging arrangements, other than commodity hedging agreements
          entered into as risk protection rather than as an investment
          (each valued as the termination value thereof computed in
          accordance with a method approved by the International Swap
          Dealers Association and agreed to in the applicable
          agreement, if any)
</TABLE>

----------------------------
(4) Exclude Contingent  Interest and amounts payable pursuant to SECTION 2.06(a)
of the Senior Subordinated Notes Purchase Agreement

                                       15
<PAGE>
<TABLE>
<S>       <C>                                                                    <C>
(j)       Debt of others Guaranteed by any Borrower                              $__________

(k)       CONSOLIDATED DEBT (sum of (a) through (i))                             $__________
</TABLE>

                            CONSOLIDATED SENIOR DEBT

<TABLE>
<S>       <C>                                                                    <C>
(l)       Subordinated Debt                                                      $__________

(m)       CONSOLIDATED SENIOR DEBT ((j) less (k))                                $__________
</TABLE>

                                       16
<PAGE>
                                   Schedule 3

                                  CASH INTEREST

<TABLE>
<S>      <C>                                                                    <C>
(a)      interest on Revolving Loans                                            $___________

(b)      interest on Term Loans at Cash Contract Rate                           $___________

(c)      interest on Senior Subordinated Debt                                   $___________

(d)      CASH INTEREST (sum of (a), plus (b), plus (c))                         $___________
</TABLE>

                                       17
<PAGE>
                                                                       EXHIBIT R

                    CONSOLIDATED EXCESS CASH FLOW CERTIFICATE

         Reference is made to the Credit Agreement dated as of July 23, 2001 ,
as amended by First Amendment to Credit Agreement dated as of September 28,
2001, Second Amendment to Credit Agreement dated as of November 25, 2002 and
Third Amendment to Credit Agreement dated as of February 10, 2003 (as so amended
and as thereafter modified and supplemented and in effect from time to time, the
"Credit Agreement") by and among Crown Crafts, Inc., Churchill Weavers, Inc.,
Hamco, Inc. and Crown Crafts Infant Products, Inc. (collectively or
individually, as the context shall require, the "Borrowers"), the Lenders from
time to time parties thereto, and Wachovia Bank, National Association (successor
by merger to Wachovia Bank, N.A.), as Agent. Capitalized terms used herein shall
have the meanings ascribed thereto in the Credit Agreement.

         Pursuant to SECTION 2.01(c) of the Credit Agreement, ________________,
the duly authorized ____________________ of the Parent, hereby certifies to the
Agent and the Lenders that, as of the last day of the Annual Period ended
___________, 200__, the information contained in the Consolidated Excess Cash
Flow Certificate attached hereto is true, accurate and complete in all material
respects.

CROWN CRAFTS, INC.

By: ___________________     (SEAL)
         Name:
         Title:

                                       18
<PAGE>
                                  CROWN CRAFTS
                  CALCULATION OF CONSOLIDATED EXCESS CASH FLOW
                    FOR ANNUAL PERIOD ENDED __________, 200__

<TABLE>
<S>      <C>                                                                    <C>
(a)      Consolidated EBITDA        Schedule 1                                  $___________

(b)      Capital Expenditures                                                   $___________

(c)      taxes paid                                                             $___________

(d)      Consolidated Free Cash Flow (sum of (a), less (b), less (c))           $___________

(e)      Consolidated Available Free Cash Flow (85% of (d))                     $___________

(f)      Cash Interest paid         Schedule 2                                  $___________

(g)      aggregate of Minimum Principal Reduction Amounts paid                  $___________

(h)      CONSOLIDATED EXCESS CASH FLOW
         (sum of (e), less (f), less (g)                                        $___________
</TABLE>

                                       19
<PAGE>
                                   Schedule 1

                               CONSOLIDATED EBITDA

<TABLE>
<S>       <C>                                              <C>
(a)       Consolidated Net Income for:

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

(b)       depreciation and amortization expenses for:

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

(c)       Consolidated Interest Expense for:

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

(d)       income tax expense included in Consolidated Net
          Income for:

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________
</TABLE>

                                       20
<PAGE>
<TABLE>
<S>       <C>                                              <C>
(e)       before-tax reserve related to the closing of
          the operations of Burgundy Interamericana SA
          de CV for:(5)

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________

          ____ quarter ____                                $___________
</TABLE>

-------------------
(5) Include only for the following Fiscal Quarters, not exceeding following
amounts for such Fiscal Quarters: (1) for the Fiscal Quarter ending December 29,
2002, $1,775,000, (2) for the Fiscal Quarter ending March 30, 2003, $225,000 and
(3) for the Fiscal Quarter ending June 29, 2003, $275,000

                                       21
<PAGE>
                                   Schedule 2

                                  CASH INTEREST

<TABLE>
<S>       <C>                                              <C>
(a)       interest on Revolving Loans                      $_____________

(b)       interest on Term Loans at Cash Contract Rate     $_____________

(c)       interest on Senior Subordinated Debt             $_____________

(d)       CASH INTEREST (sum of (a), plus (b), plus (c))   $_____________
</TABLE>

                                       22

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