Document:

EX-10.1

 Exhibit 10.1 

THIS AGREEMENT IS SUBJECT TO ARBITRATION PURSUANT TO S.C. CODE 

ANN. § 15-48-10, et seq., THE SOUTH CAROLINA UNIFORM ARBITRATION ACT 

Mr. Gerald Lyons 
 August 23, 2017 

Dear Gerry: 
 The Compensation
Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of ScanSource, Inc. (the “Company”) has determined that it would be appropriate to formalize certain terms and conditions of your
employment with the Company through the terms and conditions of this employment letter agreement (the “Letter Agreement”), which Letter Agreement will be effective as of the date stated above (the “Effective Date”). As the
Chairman of the Compensation Committee, I am pleased to extend to you the offer to continue your employment with the Company on the terms and conditions stated in this Letter Agreement. 

1. Certain Employment Terms. You will be our Chief Financial Officer and Executive Vice President of the Company and
may serve as an officer and/or director of one or more of the Company’s subsidiaries or other affiliates if and as directed by the Board. Your position is a full-time position and you will be expected to continue to devote your full business
time and attention to the performance of your duties and responsibilities in the position(s) described above. You will report to the Chief Executive Officer, and/or the Board. Your employment will be for no set duration. You will be an at-will
employee, which means that either the Company or you may terminate the employment relationship at any time, for any reason or no reason, with or without cause, subject to the severance plan benefit opportunities referenced in Section 5 of this
Letter Agreement. Although your position will require travel, your principal place of employment will be at the Company’s headquarters in Greenville, South Carolina, and you will be expected to continue to reside in the Greenville, South
Carolina area. You are authorized to join up to a total of two non-competing public and/or private corporation boards of directors, subject to prior notice to and approval by the Board.  

2. Base Salary. Your annual base salary as of the Effective Date in your role as Chief Financial Officer and Executive
Vice President will be $350,000, paid in accordance with the Company’s payroll practices (every two weeks by direct deposit) pro-rated for any partial year, and less applicable taxes and withholdings. Your salary will be subject to annual
review by the Compensation Committee but shall not be subject to decrease without your consent.  
 3. Variable
Cash Incentive Awards. You will be eligible to participate in the Company’s cash-based variable compensation incentive plan (the “Bonus Plan”). Your target annual bonus opportunity for fiscal 2018 shall be equal to 70% of base
salary, and your maximum annual bonus opportunity shall not exceed 140% of your base salary (2 times target). Thereafter, your target and maximum short-term incentive opportunities shall be subject to periodic review by the Compensation Committee,
provided that you will be eligible to participate in the Bonus Plan at a level commensurate with the level of participation of other senior executive officers of the Company. Bonuses, if any, may be pro rated for any partial years, based on actual
performance. The performance measures and goals applicable to your annual bonus opportunity (for any year) shall be established by the Compensation Committee, and the Compensation Committee shall have the discretion to determine if, and the extent
to which, any such measures and goals have been met and the bonus has been earned. While it is generally anticipated that your annual short-term incentive opportunities will be maintained, your participation in the Bonus Plan does not constitute a
promise of payment. Your actual incentive payout, if any, will depend on the Company’s financial and business performance and/or the Compensation Committee’s assessment of your individual performance, and will be subject to the terms and
conditions of the Bonus Plan. Any bonus payment made to you under the Bonus Plan will be paid to you in accordance with Treasury Reg. Section 1.409A-1(b)(4) or shall otherwise be made in a manner intended to be exempt from, or to comply with,
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

 4. Long-Term Incentive Awards. You will be eligible to participate in and
receive awards under any long-term incentive plan or program of the Company that is in place from time to time in which other senior executive officers of the Company participate. The amount, form and vesting and other terms and conditions of such
awards will be reviewed and established periodically by the Compensation Committee, but it is expected that you will be granted equity awards in the normal course of business at a level commensurate with the level of equity awards granted to other
senior executive officers of the Company. Your long-term incentive awards shall be of a type(s) determined by the Compensation Committee (e.g., restricted stock units, options, performance awards, other equity awards or any combination of the
foregoing) and shall be subject to the terms of the Company’s 2013 Long-Term Incentive Plan (as it may be amended, and any successor plan thereto, the “Stock Plan”) and award agreement(s) in form(s) established by the Compensation
Committee.  
 5. Severance Benefits; Restrictive Covenants. You will be designated to participate in the
ScanSource, Inc. Executive Severance Plan (the “Severance Plan”), such designation to occur on or as soon as practicable following the Effective Date, which Severance Plan shall include such terms and conditions as may be established by
the Compensation Committee and/or the Board. Subject to the terms of the Severance Plan, it is currently anticipated that you will be eligible for severance benefits equal to 1.5 times your three-year average annual (a) base salary and
(b) variable compensation (as defined in the Severance Plan) upon termination by the Company without cause or by you for good reason (as such terms are defined in the Severance Plan), or 2.0 times your three-year average annual base salary and
variable compensation in the event of a non-cause termination by the Company or your termination for good reason within 12 months after or prior to and otherwise in contemplation of a change in control (as defined in the Severance Plan). Without
limiting the effect of the foregoing, the treatment of any equity awards upon such a qualifying termination will be subject to the terms of the Stock Plan and related award agreements. In addition, you will be subject to certain non-competition,
non-solicitation, confidentiality and other restrictive covenants (collectively, the “Restrictive Covenants”), as provided in the Severance Plan or other applicable plan or arrangement (with such Restrictive Covenants to apply during
employment and for such period(s) following termination of employment as may be provided in the Severance Plan or other applicable plan or arrangement), and your entitlement to benefits under the Severance Plan and the Letter Agreement shall be
subject to your compliance with such Restrictive Covenants. Notwithstanding the foregoing, (i) nothing in this Letter Agreement or other agreement prohibits you from reporting possible violations of law or regulation to any federal, state or
local governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General (the “Government Agencies”), or communicating with
Government Agencies or otherwise participating in any investigation or proceeding that may be conducted by Government Agencies, including providing documents or other information, (ii) you do not need the prior authorization of the Company to
take any action described in (i), and you are not required to notify the Company that you have taken any action described in (i); and (iii) the Letter Agreement does not limit your right to receive an award for providing information relating to
a possible securities law violation to the Securities and Exchange Commission. Further, notwithstanding the foregoing, you will not be held criminally or civilly liable under any federal, state or local trade secret law for the disclosure of a trade
secret that (i) is made (A) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation or law;
or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Additionally, an individual suing an employer for retaliation based on the reporting of a suspected violation of law may
disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, so long as any document containing the trade secret is filed under seal and the individual does not disclose the trade secret except
pursuant to court order. 

  
 2 

 6. Health and Welfare Benefits. The Company provides a comprehensive
package of benefits, including medical and prescription drug coverage, dental coverage, vision coverage, life insurance, short- and long-term disability insurance and other offerings. Provided you remain an eligible employee as defined under each of
the Company’s health and welfare benefits plan(s), you will continue to be eligible to participate in such plan(s), subject to the applicable terms of such plan(s) and the Company’s right to modify or terminate such plans.  

7. 401(k) Savings Plan. You will continue to be eligible to participate in the Company-sponsored 401(k) savings plan,
subject to the terms of such plan and the Company’s right to modify or terminate such plan. The Company may in its discretion match a portion of your contributions in accordance with the applicable plan provisions. Eligibility requirements and
conditions of enrollment and coverage are subject to change and are set forth in the applicable plan documents.  

8. Deferred Compensation. You will continue to be eligible to participate in the Company’s Nonqualified Deferred
Compensation Plan, subject to the plan’s terms and conditions and the Company’s right to modify or terminate such plan.  

9. Vacation. You will be entitled to no less than twenty (20) vacation days. The Company also offers eight
(8) paid holidays.  
 10. Business Travel; Reimbursements. You will be expected to travel in
connection with your employment. The Company will reimburse you for reasonable business expenses incurred in connection with your employment, upon presentation of documentation in accordance with the Company’s applicable expense reimbursement
policies for senior management. All expenses eligible for reimbursements in connection with your employment with the Company must be incurred by you during the term of your employment or service to the Company. The amount of reimbursable expenses
incurred in one taxable year shall not affect the expenses eligible for reimbursement in any other taxable year. In no event shall any reimbursement be paid after the last day of your taxable year following the taxable year during which the expense
was incurred. No right to reimbursement is subject to liquidation or exchange for other benefits. 

  
 3 

 11. Withholding and Taxes. All amounts payable or that become payable
under this Letter Agreement will be subject to any deductions and withholdings previously authorized by you or required by law. You will be responsible for any and all taxes resulting from the benefits provided under the Letter Agreement. The
Company makes no undertakings regarding, and has no obligation to achieve, any certain tax results for you related to the benefits provided herein.  

12. Waiver and Release. You acknowledge and agree that the Company may at any time require, as a condition to receipt
of certain benefits payable under this Letter Agreement, the Severance Plan or other plan, agreement or arrangement, that you (or a representative of your estate) execute a waiver and release discharging the Company and its subsidiaries, and their
respective affiliates, and its and their officers, directors, managers, employees, agents and representatives and the heirs, predecessors, successors and assigns of all of the foregoing, from any and all claims, actions, causes of action or other
liability, whether known or unknown, contingent or fixed, arising out of or in any way related to your employment, or the ending of your employment with the Company or the benefits thereunder, including, without limitation, any claims under this
Letter Agreement or other related instruments. The waiver and release will be in a form determined by the Company and shall be executed prior to the expiration of the time period provided for payment of such benefits. 

13. Amendment and Termination; Entire Agreement; Consideration. This Letter Agreement may be amended or terminated by a
written agreement between you and the Company, with the Chairman of the Compensation Committee (or another designee of the Compensation Committee) acting on behalf of the Company. Except for the Executive Severance Plan and Stock Plan (and related
participation and award agreements), this Letter Agreement contains the entire agreement of you and the Company related to the subject matter hereof and supersedes all prior verbal or written discussion, agreements and understandings with respect to
such subject matter, and you and the Company have made no agreements, representations or warranties related to the subject matter of this Letter Agreement that are not set forth herein. Without in any way limiting the effect of the foregoing, you
and the Company hereby acknowledge and agree that that certain Employment Agreement dated as of July 1, 2014, as amended pursuant to that First Amendment to Amended and Restated Employment Agreement effective as of June 15, 2017 (such
agreement, as amended and/or restated to date, the “2014 Employment Agreement”), between you and the Company shall be terminated as of the Effective Date and that you shall have no further rights or benefits under such 2014 Employment
Agreement as of the Effective Date. Your entering into this Letter Agreement does not violate any other agreements or obligations. As a condition to the effectiveness of this Letter Agreement, you will be required to sign a mutual agreement to
arbitrate claims in form acceptable to the Company. You further acknowledge that you are receiving valuable consideration in exchange for agreeing to the terms of this Letter Agreement. 

  
 4 

 14. Compliance with Code Section 409A; Recoupment, Ownership and Other
Policies or Agreements. You and the Company agree that you both will cooperate in good faith so that no compensation paid to you by the Company under this Letter Agreement will violate Code Section 409A and the regulations promulgated
thereunder. In case any one or more provisions of this Letter Agreement fail to comply with the provisions of Code Section 409A, the remaining provisions of this Letter Agreement shall remain in effect, and this Letter Agreement shall be
administered and applied as if the non-complying provisions were not part of this Letter Agreement. The parties in that event shall endeavor to agree upon a reasonable substitute for the non-complying provisions, to the extent that a substituted
provision would not cause this Letter Agreement to fail to comply with Code Section 409A, and, upon so agreeing, shall incorporate such substituted provisions into this Letter Agreement. A termination of your employment hereunder shall not be
deemed to have occurred for purposes of any provision of this Letter Agreement providing for the payment of any amount or benefit constituting “deferred compensation” under Code Section 409A upon or following a termination of
employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Letter Agreement, references to a “termination,”
“termination of employment” or like terms shall mean “separation from service.” In the event that any payment or benefit made hereunder or under any compensation plan, program or arrangement of the Company would constitute
payments or benefits pursuant to a non-qualified deferred compensation plan within the meaning of Code Section 409A and, at the time of your “separation from service” you are a “specified employee” within the meaning of Code
Section 409A, then any such payments or benefits that are provided to you on account of your “separation from service” shall be delayed until the six-month anniversary of the date of your “separation from service” (such six
month anniversary being the “Specified Employee Payment Date”). The aggregate amount of any payments that would otherwise have been made during such six-month period shall be paid in a lump sum on the Specified Employee Payment Date with
interest and, thereafter, any remaining payments shall be paid without delay in accordance with their original schedule. If you die before the Specified Employee Payment Date, any delayed payments shall be paid to your estate in a lump sum within 30
days of your death. Each payment made under this Letter Agreement shall be designated as a “separate payment” within the meaning of Code Section 409A. You acknowledge and agree that in the event that this Letter Agreement or any
benefit described herein shall be deemed not to comply with Code Section 409A, then neither the Company, the Board, the Compensation Committee nor its or their designees or agents shall be liable to you or other persons for actions, decisions
or determinations made in good faith. Further, as a condition to entering into this Letter Agreement, you agree that you will abide by all provisions of any compensation recovery (“clawback”) policy, stock ownership guidelines, equity
retention policy and/or other similar policies maintained by the Company, each as in effect from time to time and to the extent applicable to you from time to time. In addition, you will be subject to such compensation recovery, recoupment,
forfeiture or other similar provisions as may apply at any time to you under applicable law.  
 15. Compensation
and Benefit Plans Control. The Company’s benefit offerings and other terms and conditions of employment are subject to change or termination, with or without notice. In the event of differences between any documents relating to compensation
and benefits, the terms of the applicable plan or other document will control. 
 16. Governing Law; Successors
and Assigns. This Letter Agreement will be governed by and construed in accordance with the laws of the State of South Carolina, without regard to the principles of conflict of laws, and in accordance with applicable U.S. federal law. The
provisions, obligations and rights of this Letter Agreement will be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

  
 5 

 On behalf of the Compensation Committee, the Board and the Company, we thank you
for your service and look forward to your continued service. If the terms of this Letter Agreement are acceptable to you, please sign the letter below and return it to the Company’s Vice President Worldwide – Human Resources, at your
earliest opportunity. 
 Sincerely, 
 /s/ Peter Browning 

Peter Browning 
 Chairman of the Compensation Committee, 

Board of Directors of ScanSource, Inc. 

****************************************************************************** 

I acknowledge receipt and acceptance of the continued offer of employment in this Letter Agreement, as such terms are modified by this Letter
Agreement. By my signature below, I accept all terms and conditions set forth above. In addition, I acknowledge and agree that, I will be employed on an at-will basis and that any change to that status may only be made through an agreement in
writing signed by the Company. In addition, my continued employment is contingent on the condition that I execute a mutual agreement to arbitrate claims in form acceptable to the Company, which should be executed in conjunction with your acceptance
of the offer of continued employment as described in this Letter Agreement. 
  

									
	 Accepted:
	 	 /s/ Gerald Lyons
	 		 		 	
		 	 Gerald Lyons
	 		 		 	

 Date: August 23, 2017 

  
 6Exhibit

Exhibit 10.1

JOINDER, WAIVER, CONSENT AND FIRST AMENDMENT TO CREDIT AGREEMENT

This JOINDER, waiver, consent and first amendment to credit AGREEMENT (this “Agreement”) is made as of July 22, 2016, by and among:
DICK'S MERCHANDISING & SUPPLY CHAIN, INC., an Ohio corporation (the “New Borrower”), with its principal executive offices at 345 Court Street, Coraopolis, PA 15108; 
The other Loan Parties referred to on the signature pages hereof; 
WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association with offices at One Boston Place, 19th Floor, Boston, Massachusetts 02108, as administrative agent and collateral agent (in such capacities, the “Agent”) for the lenders party to the Credit Agreement described below; and
The Lenders party hereto;
in consideration of the mutual covenants herein contained and benefits to be derived herefrom.

W I T N E S S E T H :

A.    Reference is made to (a) a certain Amended and Restated Credit Agreement, dated as of August 12, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among (i) DICK'S SPORTING GOODS, INC., a Delaware corporation (the “Existing Borrower”), (ii) the Guarantors from time to time party thereto (individually, a “Guarantor” and collectively, the “Guarantors”), (iii) the Lenders from time to time party thereto (individually, a “Lender” and, collectively, the “Lenders”), and (iv) the Agent, and (b) a certain Security Agreement dated as of December 5, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”), by and among (i) the Existing Borrower, (ii) the Guarantors and (iii) the Agent.  All capitalized terms used herein, and not otherwise defined herein, shall have the meanings assigned to such terms in the Credit Agreement.
B.    The Existing Borrower has formed the New Borrower as a wholly owned subsidiary.  In accordance with Section 10.01 of the Credit Agreement, the parties to the Credit Agreement have requested that the New Borrower be joined as a party to, and be bound by the terms of, the Credit Agreement, the Security Agreement and the other Loan Documents in the same capacity and to the same extent as the Existing Borrower thereunder, in each case, as set forth herein.
C.    The New Borrower, the Existing Borrower, the other Loan Parties, the Agent and the Required Lenders desire to modify certain provisions of the Credit Agreement as provided herein.
D.     Pursuant to Section 6.14 of the Credit Agreement, the Loan Parties are required to furnish to the Agent at least fifteen days prior written notice of any change in any Loan Party’s name or organizational structure and agreed not to effect or permit any such change unless all filings have been made under the UCC, as further set forth in Section 6.14 of the Credit Agreement.

E.    The Loan Parties have advised the Agent that on or about June 30, 2016 American Sports Licensing, Inc., a Guarantor, converted to a limited liability company under Delaware law under the name “American Sports Licensing, LLC” (the “ASL Conversion”).
F.    The Agent and the Required Lenders have agreed to Consent to the ASL Conversion and waive any applicable notice or other requirements in connection with the ASL Conversion, in each case, on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
		
	1.
	Amendments to Credit Agreement.  The provisions of the Credit Agreement are hereby amended as follows:

		
	(a)
	The introductory paragraph of the Credit Agreement is hereby amended by deleting the words “(the “Borrower”)” set forth therein.

		
	(b)
	Section 1.01 of the Credit Agreement is hereby amended by deleting the definition of “Borrower” set forth therein in its entirety and by substituting the following in its stead:

“Borrower” means (a) prior to the First Amendment Effective Date, DSG, and (b) on and following the First Amendment Effective Date, DSG and Dick’s Merchandising.”
		
	(c)
	Section 1.01 of the Credit Agreement is hereby amended by deleting the parenthetical in clause (g)(ii) of the definition of “Permitted Investments” and by substituting the following in its stead:

“(other than DSG)”
		
	(d)
	Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in appropriate alphabetical order:

“Dick’s Merchandising” means Dick’s Merchandising & Supply Chain, Inc., an Ohio corporation.”
“DSG” means Dick’s Sporting Goods, Inc., a Delaware corporation.”
“First Amendment Effective Date” means July 22, 2016.”
		
	2.
	Joinder and Assumption of Obligations.  Effective as of the First Amendment Effective Date (which shall have the meaning set forth in Section 1(d) above), the New Borrower hereby acknowledges that it has received and reviewed a copy of the Credit Agreement, the Security Agreement and the other Loan Documents, and hereby:

		
	(a)
	joins in the execution of, and becomes a party to, the Credit Agreement, the Security Agreement and the other Loan Documents as a Borrower (and, in the case of the Security Agreement, a Grantor) thereunder, as indicated with its signature below;

		
	(b)
	covenants and agrees to be bound by all covenants, agreements, liabilities and acknowledgments of a Borrower under the Credit Agreement, the Security Agreement and 

the other Loan Documents as of the date hereof, in each case, with the same force and effect as if the New Borrower was a signatory to the Credit Agreement, the Security Agreement and the other Loan Documents and was expressly named as a Borrower (and, in the case of the Security Agreement, a Grantor) therein; 

		
	(c)
	makes all representations and warranties of a Borrower under the Credit Agreement, the Security Agreement and the other Loan Documents, as of the date hereof, in each case, with the same force and effect as if the New Borrower was a signatory to the Credit Agreement, the Security Agreement and the other Loan Documents and was expressly named as a Borrower (and, in the case of the Security Agreement, a Grantor) therein (except any such representations and warranties made in any Loan Document “as of the Effective Date” shall be deemed made, with respect to the New Borrower only, as of the First Amendment Effective Date);

		
	(d)
	confirms that it has assumed all of the Obligations of a Borrower under the Credit Agreement and each of the Loan Documents, and agrees to pay, perform, observe and maintain in full force and effect, all of the Obligations of a Borrower thereunder.  The New Borrower agrees to honor, perform and comply with, in all respects, all terms and provisions of all of the Loan Documents to the same extent as if the New Borrower was named as a Borrower therein as of the date of execution thereof; and

		
	(e)
	together with the Existing Borrower, each acknowledge that the Obligations are due and owing to the Agent and the Lenders under the Loan Documents, in accordance with their terms to the same extent and the same manner as if the New Borrower was the original Borrower, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations or otherwise.  The New Borrower and the Existing Borrower each hereby acknowledge and agree that from and after the effectiveness of this Agreement, all references to the Borrower in the Credit Agreement and the other Loan Documents shall refer, jointly and severally, to the New Borrower and the Existing Borrower.

		
	3.
	Grant of Security Interest.  Without limiting the generality of Section 2(a) hereof, the New Borrower hereby pledges and grants to the Agent for its benefit and for the benefit of the Credit Parties, as collateral security for the payment and performance in full of all the Secured Obligations (as defined in the Security Agreement), a lien on and security interest in and to all of the right, title and interest of the New Borrower in, to and under all Collateral (as defined in the Security Agreement), and expressly assumes all obligations and liabilities of a Borrower and “Grantor” under the Security Agreement.  The New Borrower hereby authorizes the Agent to file financing statements containing the information required by Article 9 of the Uniform Commercial Code of the applicable jurisdiction for the filing of any financing statement relating to the Collateral (as defined in the Security Agreement).

		
	4.
	Supplemental Schedules.  To the extent that any changes in any representations, warranties, and covenants require any amendments or supplements to the schedules to the Credit Agreement, the Security Agreement or any of the other Loan Documents, such schedules are hereby updated, as evidenced by the supplemental schedules (if any) annexed to this Agreement (it being understood and agreed that any representations made in any Loan Document “as of the Effective Date” shall be deemed made, with respect to the New Borrower only, as of the First Amendment Effective Date).

		
	5.
	Waiver and Consent:  Notwithstanding the requirements of Section 6.14(ii) of the Credit Agreement, the Agent and the Required Lenders hereby Consent to the ASL Conversion and waive any applicable notice or other requirements in connection with the ASL Conversion.  The foregoing is a one-time waiver and Consent only and no other waivers or consents are intended or implied.  Nothing contained herein shall be deemed to constitute an agreement by the Agent or the Required Lenders to waive or Consent in the future to any other conversion or other reorganization.

		
	6.
	Ratification of Loan Documents.  Except as specifically amended by this Agreement and the other documents executed and delivered in connection herewith, all of the terms and conditions of the Credit Agreement, the Security Agreement and of the other Loan Documents shall remain in full force and effect as in effect prior to the date hereof, without releasing any existing Loan Party thereunder or Collateral therefor.  The Loan Parties (other than the New Borrower) hereby ratify, confirm, and reaffirm that all representations and warranties of such Loan Parties contained in the Credit Agreement, the Security Agreement and each other Loan Document are true and correct in all material respects on and as of the date hereof (except (i) to the extent that such representations and warranties are qualified by materiality, in which case they are true and correct in all respects, and (ii) to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (or in all respects, as applicable) as of such earlier date).  The Guarantors hereby acknowledge, confirm and agree that the Guaranteed Obligations of the Guarantors under, and as defined in, the Facility Guaranty include, without limitation, all Obligations of the Loan Parties at any time and from time to time outstanding under the Credit Agreement and the other Loan Documents.  The Loan Parties (other than the New Borrower) hereby acknowledge, confirm and agree that the Security Documents, and any and all Collateral previously pledged to the Agent, for the benefit of the Credit Parties, pursuant thereto, shall continue to secure all applicable Obligations (which, for the avoidance of doubt, shall include all Obligations outstanding as of the date hereof) of such Loan Parties at any time and from time to time outstanding under the Credit Agreement and the other Loan Documents, including, in each case, after giving effect to this Agreement and joining the New Borrower as a Borrower.

		
	7.
	Conditions Precedent to Effectiveness.  This Agreement shall not be effective until each of the following conditions precedent has been fulfilled to the reasonable satisfaction of the Agent:

		
	(a)
	This Agreement shall have been duly executed and delivered by the New Borrower, the Existing Borrower, the other Loan Parties, the Agent and the Required Lenders, and shall be in full force and effect.

		
	(b)
	All action on the part of the New Borrower necessary for the valid execution, delivery and performance by the New Borrower of this Agreement and all other documentation, instruments, and agreements to be executed in connection herewith shall have been duly and effectively taken and evidence thereof reasonably satisfactory to the Agent shall have been provided to the Agent.

		
	(c)
	The New Borrower shall have delivered the following to the Agent, in form and substance reasonably satisfactory to the Agent:

		
	(i)
	Certificate of Legal Existence and Good Standing, if applicable, issued by the Secretary of the State of its incorporation or organization.

		
	(ii)
	A certificate of an authorized officer of the due adoption, continued effectiveness, and setting forth the text, of each corporate resolution adopted in connection with the assumption of obligations under the Credit Agreement, the Security Agreement and the other Loan Documents, and attesting to the true signatures of each Person authorized as a signatory to any of the Loan Documents, together with true and accurate copies of all Organization Documents.

		
	(iii)
	An Information Certificate (as defined in the Security Agreement) duly completed by the New Borrower.

		
	(d)
	The Agent shall have received a written legal opinion of the New Borrower’s counsel, addressed to the Agent and the other Credit Parties, covering such matters relating to the New Borrower, the Loan Documents and/or the transactions contemplated thereby as the Agent may reasonably request.

		
	(e)
	The Agent shall have received all documents and instruments, including UCC financing statements and Blocked Account Agreements, required by Law or reasonably requested by the Agent to create or perfect the Lien intended to be created under the Security Documents and all such documents and instruments shall have been so filed, registered or recorded to the satisfaction of the Agent.

		
	(f)
	All reasonable fees and Credit Party Expenses incurred by the Agent and the other Credit Parties in connection with the preparation and negotiation of this Agreement and related documents (including the reasonable fees and expenses of counsel to the Agent) shall have been paid in full by the Loan Parties in accordance with terms of Section 10.04 of the Credit Agreement.

		
	8.
	Miscellaneous.

		
	(a)
	This Agreement may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument.  Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic transmission (such as pdf) shall be as effective as delivery of a manually executed counterpart of this Agreement.

		
	(b)
	This Agreement expresses the entire understanding of the parties with respect to the transactions contemplated hereby.  No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions hereof.

		
	(c)
	Any determination that any provision of this Agreement or any application hereof is invalid, illegal or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this Agreement.

		
	(d)
	The New Borrower warrants and represents that it is not relying on any representations or warranties of the Agent or the other Credit Parties or their counsel in entering into this Agreement.

		
	(e)
	THIS agreement SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, without giving effect to the conflicts of laws principles thereof, but including section 5-1401 of the new York general obligations law.

[signature pages follow]

IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed and delivered by its proper and duly authorized officer as of the date set forth below.
NEW BORROWER:

DICK'S MERCHANDISING & SUPPLY CHAIN, INC.

By:    /s/Lee J. Belitsky    
Name:    Lee Belitsky    
Title:    President    

AGENT:

WELLS FARGO BANK, NATIONAL ASSOCIATION

By:    /s/Joseph Burt    
Name:    Joseph Burt    
Title:    Director    

LENDERS:

PNC BANK, NATIONAL ASSOCIATION

By:    /s/James M. Steffy    
Name:    James M. Steffy    
Title:    Vice President    

BANK OF AMERICA, N.A.

By:    /s/Richard D. Hill Jr.    
Name:    Richard D. Hill Jr.    
Title:    Managing Director    

JPMORGAN  CHASE BANK, N.A.

By:    /s/Thomas G. Williams    
Name:    Thomas G. Williams    
Title:    Authorized Officer    

US BANK NATIONAL ASSOCIATION

By:    /s/David Lawrence    
Name:    David Lawrence    
Title:    VP    

TD BANK, N.A.

By:    /s/Jennifer Visconti    
Name:    Jennifer Visconti    
Title:    Credit Specialist    

HSBC BANK USA, N.A.

By:    /s/Ashley Brenner    
Name:    Ashley Brenner    
Title:    Vice President    

BANK OF AMERICA, N.A.

By:    /s/Ronald T. Dibiase    
Name:    Ronald T. Dibiase    
Title:    Vice President    

Acknowledged and Agreed:

EXISTING LOAN PARTIES:

DICK'S SPORTING GOODS, INC.

By:    /s/Teri L. List-Stoll    
Name:    Teri List-Stoll    
Title:    EVP-CFO    

AMERICAN SPORTS LICENSING, LLC

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    President    

DSG OF VIRGINIA, LLC

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    President    

GALYAN’S TRADING COMPANY, LLC

		
	By:
	Dick’s Sporting Goods, Inc., its sole member

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    President    

GOLF GALAXY, LLC

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    Governor and Executive Vice President    

GOLF GALAXY GOLFWORKS, INC.

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    Director and Executive Vice President    

CHICK’S SPORTING GOODS, LLC

		
	By:
	Dick’s Sporting Goods, Inc., its sole member

By:    /s/Joseph Oliver    
Name:    Joseph Oliver    
Title:    President    

[Supplemental Schedules - to be attached as necessary]

1919604.7

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