Document:

2011 Equity Plan Unit Increase 8-K - Exhibit 10.3

Exhibit 10.3

UNIT OPTION AGREEMENT
OF
MOMENTIVE PERFORMANCE MATERIALS HOLDINGS LLC

THIS AGREEMENT (the “Agreement”), dated as of                        between MOMENTIVE PERFORMANCE MATERIALS HOLDINGS LLC, a Delaware limited liability company (the “Company”), and the Optionee set forth on the signature page to this Agreement (the “Optionee”).

WHEREAS, the Company, acting through the Committee with the consent of the Company's Board of Managers (the “Board”) has agreed to grant to the Optionee, effective on the date hereof (the “Grant Date”), an option under the Momentive Performance Materials Holdings LLC 2011 Equity Incentive Plan (the “Plan”) to purchase a number of Common Units on the terms and subject to the conditions set forth in this Agreement and the Plan.

WHEREAS, securities in the Company being acquired pursuant to this Agreement by the Optionee shall be subject to the terms of the Management Investor Rights Agreement.

NOW, THEREFORE, in consideration of the promises and of the mutual agreements contained in this Agreement, the parties hereto hereby agree as follows: 
    
Section 1.    The Plan.

The terms and provisions of the Plan are hereby incorporated into this Agreement as if set forth herein in their entirety.  In the event of a conflict between any provision of this Agreement and the Plan, the provisions of this Agreement shall control.  A copy of the Plan may be obtained from the Company by the Optionee upon request.  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Plan or the Management Investor Rights Agreement, as the case may be. 

Section 2.    Option; Option Price.

Effective on the Grant Date, on the terms and subject to the conditions of the Plan and this Agreement, the Company hereby grants to the Optionee the option (the “Option”) to purchase Common Units at the Option Price and in the amounts set forth on the signature page hereto.  To the extent permitted by the Committee, payment of the Option Price may be made in any manner specified by Section 5.6 of the Plan. 

Section 3.    Term.

The term of the Option (the “Option Term”) shall commence on the Grant Date and expire on the tenth anniversary of the Grant Date, unless the Option shall have sooner been terminated in accordance with the terms of the Plan (including, without limitation, Article V of the Plan) or this Agreement.
 
Section 4.    Vesting.

Subject to the Optionee's not having a Termination of Relationship prior to the applicable vesting date and except as otherwise set forth in Section 7, the Options shall become non-forfeitable and exercisable (any Options that shall have become non-forfeitable and exercisable pursuant to this Section 4, the “Vested Options”) in                    percent (  %) increments on each of                        ,                       ,                       , and                        . Upon a Complete Change in Control (other than in connection with a Qualified Public Offering) (such date, the “Option Acceleration Date”), 100% of the Options which have not theretofore become Vested Options and which are scheduled to vest on each of the remaining vesting dates set forth in the previous sentence will vest on the     (  ) month anniversary of such Option Acceleration Date, provided that the Optionee remains in continuous employment with or service to the Company or a Subsidiary for the     (  ) month period following such Option Acceleration Date; provided, however, that in the event that the Participant has a Termination of Relationship during the period of time following the date of such Option Acceleration Date and prior to the     (  ) month anniversary of such Option Acceleration Date, as a result of his or her death, Disability, termination from employment or services by the Company or a Subsidiary without Cause or resignation from employment or services with Good Reason, 100% of the Options shall vest on the date of such Termination of Relationship.  

All decisions by the Committee with respect to any calculations pursuant to this Section 4 (absent manifest error), including the Committee's determination of whether and the date on which a Complete Change in Control or an Option Acceleration Date occurs shall be final and binding on the Optionee.  Except as otherwise provided herein, all unvested Options will immediately terminate upon a Termination of Relationship (after giving effect to any vesting in connection with such Termination of Relationship).  

Section 5.    Restriction on Transfer/Management Investor Rights Agreement.

The Option may not be transferred, pledged, assigned, hypothecated or otherwise disposed of in any way by the Optionee, except (i) if permitted by the Board or the Committee, (ii) by will or the laws of descent and distribution or (iii) pursuant to beneficiary designation procedures approved by the Company.  The Option shall not be subject to execution, attachment or similar process.  Common Units acquired pursuant to the exercise of Options hereunder will be subject to the Management Investor Rights Agreement.  Any attempted assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions of this Agreement or the Management Investor Rights Agreement shall be null and void and without effect. 

Section 6.    Optionee's Employment.

Nothing in this Agreement or in the Option shall confer upon the Optionee any right to continue in the employ of the Company or any of its Subsidiaries or interfere in any way with the right of the Company or its Subsidiaries, as the case may be, in its sole discretion, to terminate the Optionee's employment or to increase or decrease the Optionee's compensation at any time.

Section 7.    Termination.

(a)     The Vested Option, if any, shall automatically terminate and shall become null and void, be unexercisable and be of no further force and effect upon the earliest of: 

(i)    the tenth anniversary of the Grant Date; 

(ii)    the 180th day following the Termination of Relationship in the case of a Termination of Relationship for death or Disability;

(iii)    the 90th day following the Termination of Relationship in the case of a Termination of Relationship without Cause or by the Optionee for any reason; and

(iv)    the day of the Termination of Relationship in the case of a Termination of Relationship with Cause.

(b)    Upon a Termination of Relationship for any reason, the unvested portion of the Option (i.e., that portion which does not constitute Vested Options) shall terminate on the date the Termination of Relationship occurs.

(c)    Notwithstanding anything to the contrary herein, upon receipt of payment by the Optionee following a Realization Event, pursuant to Section 10.3 of the Plan, the Option shall terminate.

Section 8.    Securities Law Representations.

The Optionee hereby represents and warrants to the Company as set forth on Attachment A hereto. 

Section 9.    Designation of Beneficiary.

The Optionee may appoint any individual or legal entity in writing as his beneficiary to receive any Option (to the extent not previously terminated or forfeited) under this Agreement upon the Optionee's death or Disability.  The Optionee may revoke his designation of a beneficiary at any time and appoint a new beneficiary in writing.  To be effective, the Optionee must complete the designation of a beneficiary or revocation of a beneficiary by written notice to the Company under Section 11 of this Agreement before the date of the Optionee's death. In the absence of a beneficiary designation, the legal representative of the Optionee's estate shall be deemed the beneficiary.

Section 10.Condition Precedent; Manner of Exercise of Option.

As a condition precedent to the exercise of Vested Options, the Optionee must execute an Adoption Agreement agreeing to become bound to the terms of the Management Investor Rights Agreement.  In addition, the Optionee must satisfy all terms and conditions applicable to the exercise of such Vested Options, including, without limitation, all notice and payment requirements set forth in Article V of the Plan.

Section 11.Notices.

All notices, claims, certifications, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given and delivered if personally delivered or if sent by nationally-recognized overnight courier, by telecopy, or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows: 
    
If to the Company, to: 

Momentive Performance Materials Holdings LLC 
180 E. Broad St.
Columbus, OH 43215 
Attention: General Counsel 

with a copy (which shall not constitute notice) to: 

Apollo Management, L.P. 
9 West 57th Street 
43rd Floor 
New York, New York 10019 
Facsimile: (212) 515-3267 
Attention: 

If to the Optionee, to him at the address set forth on the signature page hereto or at his electronic mail address at the Company; or to such other address as the party to whom notice is to be given may have furnished to the other party in writing in accordance herewith.  Any such notice or other communication shall be deemed to have been received (a) in the case of personal delivery, on the date of such delivery (or if such date is not a business day, on the next business day after the date of delivery), (b) in the case of  nationally-recognized overnight courier, on the next business day after the date sent, (c) in the case of telecopy transmission, when received (or if not sent on a business day, on the next business day after the date sent), (d) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted and (e) in the case of email, on the date of delivery. 

Section 12.Waiver of Breach.

The waiver by either party of a breach of any provision of this Agreement must be in writing and shall not operate or be construed as a waiver of any other or subsequent breach. 

Section 13.Optionee's Undertaking.

The Optionee hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Optionee pursuant to the express provisions of this Agreement and the Plan; provided, however, that such additional actions and documents are consistent with the terms of this Agreement. 

Section 14.Modification of Rights.

The rights of the Optionee are subject to modification and termination in certain events as provided in this Agreement and the Plan (with respect to the Options granted hereby). Notwithstanding the foregoing, the Optionee's rights under this Agreement and the Plan may not be materially impaired without the Optionee's prior written consent. 

Section 15.Governing Law.

THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE OF DELAWARE WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION'S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY. 

Section 16.Restrictive Covenants.

The grant, vesting and exercise of Options pursuant to this Agreement shall be subject to the Optionee's continued compliance with the restrictive covenants in Section 6 of the Management Investor Rights Agreement. 

Section 17.Withholding.

As a condition to exercising this Option in whole or in part, the Optionee will pay, or make provisions satisfactory to the Company for payment of, any Federal, state and local taxes required to be withheld in connection with such exercise. 

Section 18.Adjustment.

In the event of any event described in Article X of the Plan occurring after the Grant Date, the adjustment provisions (including cash payments) as provided for under Article X of the Plan shall apply. 

Section 19.Counterparts.

This Agreement may be executed in one or more counterparts, and each such counterpart shall be deemed to be an original, but all such counterparts together shall constitute but one agreement. 
 
Section 20.Entire Agreement.

This Agreement and the Plan (and the other writings referred to herein) constitute the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all prior written or oral negotiations, commitments, representations and agreements with respect thereto.  Without limiting the generality of the previous sentence, the Optionee specifically agrees and acknowledges that any right that he may have to require the Company to purchase Common Units acquired through exercise of all or any portion of the Option or otherwise put all or any portion of the Option or Common Units so acquired to the Company is not applicable to the Option.

Section 21.Severability.

It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought.  Accordingly, if any particular provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.  Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 

Section 22.Waiver of Jury Trial.

Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, trial by jury in any suit, action or proceeding arising hereunder. 

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have executed this Unit Option Agreement as of the date first written above. 

THE COMPANY:

Momentive Performance Materials Holdings LLC

By:_____________________________________    
     Name:
     Title:

THE OPTIONEE:

See attached signature page

OPTIONEE

______________________________
Name:

Address: ____________________________
____________________________________
____________________________________

 

Number of Common Units 
subject to Options:    

Option Price:    $             each

Date of Grant:     

CONSENT OF SPOUSE
In consideration of the execution of the foregoing Unit Option Agreement by Momentive Performance Materials Holdings LLC, I, _____________________________, the spouse of the Optionee therein named, do hereby join with my spouse in executing the foregoing Unit Option Agreement and do hereby agree to be bound by all of the terms and provisions thereof and of the Plan.
Dated:    ____________, ______
______________________________
Signature of Spouse
______________________________
Print NameFBN 10K-EX.10.28 (12.29.12)

Exhibit  10.28

        FIRST AMENDMENT TO CREDIT AGREEMENT AND CONSENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND CONSENT (this “Amendment”), effective as of February 25, 2013, by and among Furniture Brands International, Inc., a Delaware corporation (the “Company”), Broyhill Furniture Industries, Inc., a North Carolina corporation (“Broyhill Furniture”), HDM Furniture Industries, Inc., a Delaware corporation (“HDM Furniture”), Lane Furniture Industries, Inc., a Mississippi corporation (“Lane Furniture”), Maitland-Smith Furniture Industries, Inc., a Delaware corporation (“Maitland Furniture”), Thomasville Furniture Industries, Inc., a Delaware corporation (“Thomasville Furniture”; together with the Company, Broyhill Furniture, HDM Furniture, Lane Furniture, Maitland Furniture and Thomasville Furniture are sometimes referred to herein collectively as “Borrowers” and individually as a “Borrower”), the other Credit Parties party hereto, general electric capital corporation, a Delaware corporation, as administrative agent for the Lenders (as defined below) (in such capacity, “Agent”) and the Lenders party hereto.
W I T N E S S E T H:
WHEREAS, Borrowers, the other Credit Parties signatory thereto, the lenders party thereto from time to time (the “Lenders”), the Co-Collateral Agents (as defined in the Credit Agreement) and the other agents party thereto and Agent are parties to that certain Credit Agreement, dated as of September 25, 2012 (as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and
WHEREAS, Borrowers and the other Credit Parties have requested that the Lenders amend certain terms, and provide certain consents, in each case, to the Credit Agreement and the other Loan Documents; and
WHEREAS, Agent and the Lenders have agreed to the requested amendment and consents on the terms and subject to the conditions set forth herein;
NOW THEREFORE, in consideration of the foregoing premises and other good and valuable consideration paid by each party to the other, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree that all capitalized terms not otherwise defined herein (including the recitals and preamble hereof) shall have the respective meanings ascribed to such terms in the Credit Agreement, after giving effect to this Amendment, and further agree as follows:
1.    Amendments to the Credit Agreement.  
(a)    Section 1.8(c) of the Credit Agreement, “Asset Dispositions; Events of Loss”, is hereby amended and modified by deleting the final paragraph thereof in its entirety and inserting the following in lieu thereof:
“then (A) the Borrower Representative shall promptly notify Agent of such Disposition or Event of Loss (including the amount of the estimated Net Proceeds to be received by a Credit Party and/or such Subsidiary in respect thereof) and (B) promptly upon receipt by a Credit Party and/or such Subsidiary of any Net Proceeds of such Disposition or Event of Loss (including, for the avoidance of doubt, the receipt by a Credit Party and/or such Subsidiary of any principal payment, including, without 

limitation, any payments in the ordinary course or prepayments made on any of the Investment Promissory Notes (as defined below in this Section 1.8(c))) (x) in the case of any Revolver Priority Collateral, and (y) in the case of any Term Loan Priority Collateral that are not applied to the repayment of the Term Loan Obligations or reinvested by the applicable Credit Party, in each case pursuant to the express terms of the Term Loan Agreement (and subject in all cases to the terms of the Term Loan Intercreditor Agreement), the Borrowers shall deliver, or cause to be delivered, an amount equal to such Net Proceeds to Agent for distribution to the Lenders as a prepayment of the Loans, which prepayment shall be applied in accordance with Section 1.10(c)(i) or Section 1.10(c)(ii), as the case may be; provided that only $85,000 shall be required to be paid to the Agent or the Term Loan Agent, as the case may be, in connection with the Initial Mexican Equipment Transfer.  For the purposes of this Section 1.8(c), the term “Investment Promissory Notes” means any of the promissory notes listed on Schedule 5.4 of the Disclosure Letter and any future promissory notes executed after the Closing Date in favor of any Credit Party, but excluding, in each case, (i) any intercompany promissory note executed between Credit Parties and/or any Subsidiary thereof, (ii) any promissory note that evidences the proceeds of (A) any “Non-Borrowing Base Real Estate” (as defined in the Term Loan Agreement) or (B) any other Term Loan Priority Collateral in which a Credit Party and/or a Subsidiary is not required to make a mandatory prepayment pursuant to the express terms of the Term Loan Agreement or (iii) any promissory note that evidences the proceeds of any disposition that is specifically excluded from the definition of “Disposition”. 
(b)    Section 11.1 of the Credit Agreement, “Defined Terms”, is hereby amended and modified by deleting the definition of “Restricted Amount” in its entirety and inserting the following in lieu thereof:  
““Restricted Amount” means, at any time, an amount equal to the sum at such time of (a) the aggregate amount of Investments made by Credit Parties after the Closing Date in the Stock and Stock Equivalents of Subsidiaries that are not Credit Parties made pursuant to Section 5.4(f), including, without limitation, the Initial Mexican Equipment Transfer, (b) the outstanding principal amount of intercompany loans and advances made by Credit Parties after the Closing Date to Subsidiaries which are not Credit Parties pursuant to Section 5.4(g) and (c) the aggregate principal amount of Indebtedness of Subsidiaries which are not Credit Parties which is guaranteed by Credit Parties after the Closing Date pursuant to Section 5.4(h) (in each case determined without regard to any write-downs or write-offs).”
(c)    Section 10.1 of the Credit Agreement, “Defined Terms”, is hereby amended and modified by inserting the following new definitions in appropriate alphabetical order:

““First Amendment” means that certain First Amendment to Credit Agreement and Consent dated as of February 25, 2013 among the Borrowers, the Lenders party thereto and the Agent.”
““Initial Mexican Equipment Transfer” has the meaning given to such term in the First Amendment.”
2.    Consent.  Notwithstanding anything to the contrary contained in any of Section 3.21, Section 5.2, Section 5.4 or Section 5.6 of the Credit Agreement, any other provision of the Credit Agreement or any provision in any of the other Loan Documents, Agent and the Lenders hereby consent and agree that (a) any Credit Party shall be permitted to transfer the equipment listed on Schedule A attached hereto from any United States location of any Credit Party to any Mexican location of any Credit Party and/or Subsidiary of any Credit Party (the “Initial Mexican Equipment Transfer”) so long as (i) the fair market value of such equipment at the time of such transfer reduces the amount of the basket available for the Restricted Amount as set forth in Sections 5.4(f), (g) and (h) of the Credit Agreement for all purposes and (ii) Borrowers shall make prepayment of the Loans as required pursuant to Section 1.8 of the Credit Agreement within 2 Business Days after the date of such transfer, (b) any Credit Party shall be permitted to transfer any equipment that is purchased solely for the purpose of transferring such equipment to any Mexican location of any Credit Party and/or Subsidiary of any Credit Party so long as (i) such equipment is transferred within 30 days of such purchase and (ii) the purchase price of such equipment shall reduce the amount of the basket available for the Restricted Amount as set forth in Sections 5.4(f), (g) and (h) of the Credit Agreement for all purposes, and (c) no Credit Party shall be required to take any further action to perfect the security interest of Agent in any such transferred equipment under clause (a) or (b).
3.    Acknowledgement and Waiver.  In the event that any Event of Default is deemed to have occurred prior to and be continuing on the date hereof under the Credit Agreement as a result of (a) the failure of the Credit Parties to have deposited all proceeds from the Term Loan Priority Collateral in the Term Loan Priority Account, as and when received, or (b) the failure of the Credit Parties to have paid the principal amounts received on account of the Investment Promissory Notes in reduction of the Term Loan or Loan (as applicable), each Lender hereby acknowledges that by its signature below, each such Event of Default is hereby waived by such Lender.  This waiver is a one-time accommodation to the Credit Parties and is not an amendment or waiver of the terms of the Credit Agreement with respect to any other Defaults or Events of Default which may now exist or hereafter arise or with respect to transactions or events after the date hereof.
4.    No Other Consents or Amendments.  Except as otherwise expressed herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent and the Lenders under the Credit Agreement or any of the other Loan Documents, nor constitute a waiver of any provision of the Credit Agreement or any of the other Loan Documents.  Except for the amendment set forth above, the text of the Credit Agreement and all other Loan Documents shall remain unchanged and in full force and effect and each Credit Party hereby ratifies and confirms its obligations thereunder.  This Amendment shall not constitute a modification of the Credit Agreement or any other Loan Document or a course of dealing between Borrowers and the other Credit Parties, on the one hand, and the Lenders, on the other hand, at variance with the Credit Agreement or any other Loan Document such as to require further notice by the Lenders to Borrowers or such Credit Parties to require strict compliance with 

the terms of the Credit Agreement and the other Loan Documents in the future, except as expressly set forth herein. Each Borrower and each other Credit Party acknowledges and expressly agrees that the Lenders reserve the right to, and do in fact, require strict compliance with all terms and provisions of the Credit Agreement and the other Loan Documents.  Neither any Borrower nor any other Credit Party has knowledge of any challenge to the Lenders' claims arising under the Loan Documents or the effectiveness of the Loan Documents.
5.    Conditions Precedent to Effectiveness.  This Amendment shall be effective as of the date first written above upon satisfaction of the following:
(a)    Agent's receipt of a counterpart hereof duly executed by Borrowers, Credit Parties and the Required Lenders;
(b)    Agent's receipt of fully executed and effective first amendment to the Term Loan Agreement, in form and substance reasonably acceptable to the Agent and relating to the matters addressed in this Amendment;
(c)    all necessary resolutions, consents and approvals to this Amendment shall have been obtained by the Credit Parties and delivered to Agent (if any); 
(d)    after giving effect to this Amendment, no Default or Event of Default shall exist; and
(e)    the representations and warranties of Borrowers and other Credit Parties contained in this Amendment shall be true and accurate in all respects (or, with respect to any representation or warranty that is not otherwise qualified as to materiality, in all material respects).
6.    Representations and Warranties of Borrowers and Other Credit Parties.  The Credit Parties executing this Amendment, jointly and severally, make the following representations and warranties to Agent and each Lender with respect to all Credit Parties, each and all of which shall survive the execution and delivery of this Amendment:
(a)    this Amendment has been executed and delivered by duly authorized representatives of each Credit Party, and the Credit Agreement, as modified and amended by this Amendment, constitutes a legal, valid and binding obligation of each Credit Party, and is enforceable against each Credit Party in accordance with its terms;
(b)    after giving effect to this Amendment, no Default or Event of Default has occurred or is continuing; and
(c)    all of the representations and warranties of each Credit Party contained in the Credit Agreement continue to be true and correct in all material respects as of the date hereof as though made on and as of such date, except to the extent that such representation or warranty expressly relates to an earlier date or except for changes therein expressly permitted or expressly contemplated by the Credit Agreement, as amended hereby.
7.    Effect on the Credit Agreement and other Loan Documents.  Except as specifically provided herein, the Credit Agreement and the other Loan Documents shall remain in full force and effect, and are 

hereby ratified, reaffirmed and confirmed. This Amendment shall be deemed to be a Loan Document for all purposes.
8.    Costs and Expenses.  Each Borrower, jointly and severally, agrees to pay on demand all fees, costs and expenses incurred in connection with the preparation, execution, delivery, administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder, including, without limitation, the reasonable fees, costs and expenses of counsel for Agent with respect thereto and with respect to advising Agent as to its rights and responsibilities hereunder and thereunder.
9.    Counterparts.  This Amendment may be executed in any number of separate counterparts and by the different parties hereto on separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument. In proving this Amendment in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party against whom such enforcement is sought. Any signatures delivered by a party by facsimile or other electronic transmission shall be deemed an original signature hereto.
10.    Governing Law. The laws of the State of New York shall govern all matters arising out of, in connection with or relating to this Amendment, including, without limitation, its validity, interpretation, construction, performance and enforcement (including, without limitation, any claims sounding in contract or tort law arising out of the subject matter hereof and any determinations with respect to post-judgment interest).
[The remainder of the page is intentionally blank.]

IN WITNESS WHEREOF, the parties hereto have executed this Amendment or caused it to be executed under seal by their duly authorized officers, as of the day and year first written above.
BORROWERS:
FURNITURE BRANDS INTERNATIONAL, INC.

By:                        
     Name:
     Title:
BROYHILL FURNITURE INDUSTRIES, INC.

By:                        
     Name:
     Title:
HDM FURNITURE INDUSTRIES, INC.

By:                        
     Name:
     Title:
LANE FURNITURE INDUSTRIES, INC.

By:                        
     Name:
     Title:

MAITLAND-SMITH FURNITURE INDUSTRIES, INC.
By:                        
     Name:
     Title:
THOMASVILLE FURNITURE INDUSTRIES, INC.
By:                        
     Name:
     Title:

AGENT AND LENDERS:
GENERAL ELECTRIC CAPITAL CORPORATION, as Agent and a Lender
By:                         
Name: 
Title:  

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
By:                         
Name: 
Title:

BANK OF AMERICA, N.A., as a Lender
By:                         
Name: 
Title:

CIT BANK, as a Lender
By:                         
Name: 

The following Persons are signatories to this Agreement in their capacity as Credit Parties and not as Borrowers.
CREDIT PARTIES:
ACTION TRANSPORT, INC.

By:                        
     Name:
     Title:
BROYHILL HOME FURNISHINGS, INC.

By:                        
     Name:
     Title:
BROYHILL RETAIL, INC.

By:                        
     Name:
     Title:
FURNITURE BRANDS RESOURCE COMPANY, INC.

By:                        
     Name:
     Title:

FURNITURE BRANDS HOLDINGS, INC.

By:                        
     Name:
     Title:
FURNITURE BRANDS OPERATIONS, INC.

By:                        
     Name:
     Title:
HDM RETAIL, INC.

By:                        
     Name:
     Title:
LANE HOME FURNISHINGS RETAIL, INC.

By:                        
     Name:
     Title:
FURNITURE BRANDS HOLDINGS, INC.

By:                        
     Name:
     Title:

THOMASVILLE HOME FURNISHINGS, INC.

By:                        
     Name:
     Title:
THOMASVILLE RETAIL, INC.

By:                        
     Name:
     Title:

SCHEDULE A
List of Transferred Equipment
[See attached]

	
					
	
	 
	 
	 

	 
	 
	 
	 

	Schedule Transferred Equipment
	 
	 
	 

	Intercompany Transfer
	 
	 
	 

	Equipment Name
	Qty
	

	FMV Used
	Total

	 
	 
	 
	 

	Sewing machines
	100
	

	$850
	$85,000

	Cutting Edge
	5
	

	$15,000
	$75,000

	Lift Truck
	3
	

	$2,500
	$7,500

	Hand Cutters
	6
	

	$100
	$600

	Taurus Leather Cut
	1
	

	$15,000
	$15,000

	Plotter
	3
	

	$2,000
	$6,000

	TOTAL US Purchased
	 
	 
	$189,100

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