Document:

Amendment to the Second Amended and Restated Employment Agt-Krell

 Exhibit 10.1 
 AMENDMENT TO 
 SECOND
AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDMENT is made as of August 10, 2011 by and between DESTINATION MATERNITY CORPORATION (formerly MOTHERS WORK, INC.) (the
“Company”) and EDWARD M. KRELL (“Employee”). 
 WHEREAS, the Company and Employee are parties
to a Second Amended and Restated Employment Agreement dated as of May 15, 2007, as amended October 1, 2008 and August 3, 2010 (the “Employment Agreement”); and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company has resolved to increase Employee’s Base Salary
effective December 1, 2010; and 
 WHEREAS, the Company and Employee have agreed to make certain other changes to the
Employment Agreement. 
 NOW, THEREFORE, in consideration of these premises and intending to be legally bound hereby, the
Employment Agreement is hereby amended as follows, effective as of the date first above written: 
  

	 	1.	Paragraph 6(A) is amended by revising the Base Salary amount to $750,000. This revision is effective as of December 1, 2010. 

 

	 	2.	Paragraph 2(B)(1) is amended and restated as follows: 

 “(1) the Company will make a lump sum payment to Employee (less applicable deductions and withholdings), at the time specified in Paragraph 2(E), of a gross amount equal to (i) $3,900,000,
plus (ii) any Annual Bonus earned but not previously paid with respect to a year ended prior to the date of termination;” 
  

	 	3.	Paragraph 2(E) is amended and restated as follows: 

 “In consideration of and as a condition to receiving all the rights and benefits described in paragraphs 2(B), 2(C) or 2(D) above, Employee (or, as applicable, the executors, legal
representatives or administrators of his estate) will be required to sign and deliver to the Company the Company’s employment release agreement, substantially in the form attached hereto as Exhibit A (the “Release”)
within 45 days following his cessation of employment. Subject to paragraph 3, below, and provided the Release is not revoked, the severance, disability or death benefits described herein (as applicable) will begin to be paid or provided (x) 15
days after the Release has been delivered, if the 60 day period following the cessation of employment does not straddle two calendar years; or (y) the later of 15 days after the Release has been delivered or the first regularly scheduled
payroll date in the calendar year following the cessation of 

 
employment, if the 60 day period following such cessation straddles two calendar years. Rights and benefits described in the aforesaid paragraphs are in lieu of, and not in addition to, any
severance or termination benefits provided under any other plan, policy, or arrangement of the Company.” 
  

	 	4.	The Employment Agreement, as amended by the foregoing changes, is hereby ratified and confirmed in all respects. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer and
Employee has executed this Amendment, in each case on the date first written above. 
  

			
	DESTINATION MATERNITY CORPORATION
		
	By:	 	 /s/ Judd P. Tirnauer

	Name:	 	Judd P. Tirnauer
	Title:	 	Senior Vice President & Chief Financial Officer
	
	EDWARD M. KRELL
	
	 /s/ Edward M. Krell

		 	

  
 -3-Amendment to the Employment Agt-Tirnauer

 Exhibit 10.2 
 AMENDMENT TO 
 EMPLOYMENT
AGREEMENT 
 THIS AMENDMENT is made as of August 10, 2011 by and between DESTINATION
MATERNITY CORPORATION (formerly MOTHERS WORK, INC.) (the “Company”) and JUDD P. TIRNAUER (“Executive”). 
 WHEREAS, the Company and Executive are parties to an Employment Agreement dated as of July 23, 2008 (the “Employment Agreement”); and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company has resolved to increase Executive’s Base Salary
effective December 1, 2010; and 
 WHEREAS, the Company and Executive have agreed to make certain other changes to the
Employment Agreement. 
 NOW, THEREFORE, in consideration of these premises and intending to be legally bound hereby, the
Employment Agreement is hereby amended as follows, effective as of the date first above written: 
  

	 	1.	Section 4.1 is amended by revising the Base Salary amount to $375,000. This revision is effective as of December 1, 2010. 

 

	 	2.	The last fully justified paragraph in Section 5.1 is amended and restated as follows: 

“Except as otherwise provided in this Section 5.1, all compensation and benefits will cease at the time of such
cessation and the Company will have no further liability or obligation by reason of such cessation. The payments and benefits described in this Section 5.1 are in lieu of, and not in addition to, any other severance arrangement
maintained by the Company. Notwithstanding any provision of this Agreement, the payments and benefits described in Section 5.1 are conditioned on Executive’s execution and delivery to the Company, within 45 days following his
cessation of employment, of a general release of claims against the Company and its affiliates in such form as the Company may reasonably require (the “Release”). Subject to Section 5.4, below, and provided the Release is not
revoked, the severance benefits described herein will begin to be paid or provided (x) 15 days after the Release has been delivered, if the 60 day period following the cessation of employment does not straddle two calendar years; or
(y) the later of 15 days after the Release has been delivered or the first regularly scheduled payroll date in the calendar year following the cessation of employment, if the 60 day period following such cessation straddles two calendar
years.” 

	 	3.	The Employment Agreement, as amended by the foregoing changes, is hereby ratified and confirmed in all respects. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly
authorized officer and Executive has executed this Amendment, in each case on the date first written above. 
  

							
		 		 	DESTINATION MATERNITY CORPORATION
				
		 		 	By:	 	 /s/ Edward M. Krell

		 		 	Name:	 	 Edward M. Krell

		 		 	Title:	 	 Chief Executive Officer

				
		 		 		 	
		 		 	JUDD P. TIRNAUER
			
		 		 	 /s/ Judd P. Tirnauer

  
 -3-Amendment to the Employment Agt-Masciantonio

 Exhibit 10.3 
 AMENDMENT TO 
 EMPLOYMENT
AGREEMENT 
 THIS AMENDMENT is made as of August 10, 2011 by and between DESTINATION
MATERNITY CORPORATION (the “Company”) and RONALD J. MASCIANTONIO (“Executive”). 
 WHEREAS,
the Company and Executive are parties to an Employment Agreement dated as of July 16, 2009, as amended April 27, 2010 (the “Employment Agreement”); and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company has resolved to increase Executive’s Base Salary
effective December 1, 2010; and 
 WHEREAS, the Company and Executive have agreed to make certain other changes to the
Employment Agreement. 
 NOW, THEREFORE, in consideration of these premises and intending to be legally bound hereby, the
Employment Agreement is hereby amended as follows, effective as of the date first above written: 
  

	 	1.	Section 4.1 is amended by revising the Base Salary amount to $320,000. This revision is effective as of December 1, 2010. 

 

	 	2.	Section 4.2.1 is amended by revising the Executive’s target annual bonus percentage to 50% of Executive’s Base Salary for the applicable fiscal year.

  

	 	3.	The last fully justified paragraph in Section 5.1 is amended and restated as follows: 

“Except as otherwise provided in this Section 5.1, all compensation and benefits will cease at the time of such
cessation and the Company will have no further liability or obligation by reason of such cessation. The payments and benefits described in this Section 5.1 are in lieu of, and not in addition to, any other severance arrangement
maintained by the Company. Notwithstanding any provision of this Agreement, the payments and benefits described in Section 5.1 are conditioned on Executive’s execution and delivery to the Company, within 45 days following his
cessation of employment, of a general release of claims against the Company and its affiliates in such form as the Company may reasonably require (the “Release”). Subject to Section 5.4, below, and provided the Release is not
revoked, the severance benefits described herein will begin to be paid or provided (x) 15 days after the Release has been delivered, if the 60 day period following the cessation of employment does not straddle two calendar years; or
(y) the later of 15 days after the Release has been delivered or the first regularly scheduled payroll date in the calendar year following the 

 
cessation of employment, if the 60 day period following such cessation straddles two calendar years.” 
  

	 	4.	The Employment Agreement, as amended by the foregoing changes, is hereby ratified and confirmed in all respects. 

[Signature page follows] 

  
 -2-

 IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly
authorized officer and Executive has executed this Amendment, in each case on the date first written above. 
  

			
	DESTINATION MATERNITY CORPORATION
		
	 By:
	 	 /s/ Edward M. Krell

	 Name:
	 	 Edward M. Krell

	 Title:
	 	 Chief Executive Officer

	
	 RONALD J. MASCIANTONIO

	
	 /s/ Ronald J. Masciantonio

  
 -3-Facility Agreement

 Exhibit 10.1 
 

 
 Facility Agreement 

[/ ]        Head Office 

Date:    May 12, 2011 
 We, Fabrinet Company Limited, having the principal place of business at No.294 Moo 8, Viphavadi Rangsit Road, Kookot, Amphur Lumlookka, Patumthanee 12130, Registration Number 0105542073726; and 

We, Fabrinet, having the principal place of business at Walker House, 87 Mary Street, George Town, Grand Cayman, Cayman Islands, British West
Indies, Registration Number 91794 (the “Co-Borrower”) 
 unless specifically referred to otherwise, individually
hereinafter referred to as the “Borrower” hereby enters into this Agreement with TMB Bank Public Company Limited hereinafter called the “Bank” with the following terms and conditions: 

Facility Type and Credit Limit 
  

	1.	 The type of facilities and their credit limits are as follows: 

 

	 	1.1	 Term Loan Facility in the amount of not exceeding Baht 960,000,000 (Nine Hundred Sixty Million Baht) and equivalent to USD 30,000,000 (United States
Dollar Thirty Million) hereinafter called the “Loan”. For the purpose of this Agreement, exchange rate for USD against Baht shall be the rate as informed by the Bank to the Borrower prior to the first utilization of the Loan. The
Borrower may commence utilization of the Loan from June 1, 2011 up until March 31, 2012. The Borrower shall use the Loan for the purpose of construction of the new building located on the land title deed number 1636, Soi Khunpra,
Phaholyothin Road, Klongnueng, Klongluang Patumthanee (the “Project”); 

  

	 	1.2	 Hedging Facility: Cross Currency Swap in the notional amount of USD 30,000,000 (United States Dollar Thirty Million); and 

 

	 	1.3	 Settlement Limit in the amount of Baht 65,000,000 (Baht Sixty Five Million). 

The facilities under Clause 1.2 to 1.3 are collectively called the “Revolving Facilities” which means the
facilities that roll over as approved by the Bank and are utilised as working capital of the Borrower’s business operations, and each utilisation of which is subject to the Bank’s sole discretion. 

General Terms and Conditions 
  

	2.	 The Borrower agrees to comply with the “General Terms and Conditions of Facility” dated May 12, 2011 attached herewith which is hereinafter
called the “General Terms”. The Borrower agrees that the General Terms and the Facility Agreement including any other relevant documents executed in relation to the General Terms or the Facility Agreement shall bind the Borrower and
supersede any previous contracts or agreements the Borrower made with the Bank. If in the future the Borrower is granted any facility by the Bank in addition to the facilities obtained hereunder by execution of a new facility agreement or amendment
agreement thereof, the Borrower agrees to comply with the General Terms which shall be applicable to the said agreements or facilities in all respects. The Borrower 

  
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further agrees that the General Terms attached herewith, including any other relevant agreements or documents shall, to the extent that they are not inconsistent with this Agreement or the
General Terms, constitute mutually essential elements and form an integral part of this Agreement. Any breach of any term thereunder by the Borrower shall constitute a breach of this Agreement, in which case the Bank is entitled to demand the
Borrower to immediately repay all debts outstanding together with interest at the default rate as well as to exercise any rights to which the Bank is entitled under this Agreement. 

Conditions of Utilisation of Facilities 
  

	3.1	 In addition to the conditions of utilisation set out under Clause 4 (Utilisation), the Borrower shall comply with the conditions precedent for
utilisation of any or all of the facilities and credit limits as set out under the General Terms as well as the conditions precedent specific to each facility and credit limit as follows: 

 

	 	3.1.1	 the Borrower’s receipt of approval from the Bank of Thailand regarding foreign exchange control; and 

 

	 	3.1.2	 no material adverse change to the business of the Borrower. 

  

	3.2	 In connection with the utilization of Loan for payment of construction costs of the Project, the Borrower shall comply with the following conditions
precedent: 

  

	 	3.2.1	 the Borrower shall submit evidence that the Borrower has already financed for the construction and land development costs to fulfil investment of equity
together with the first utilization; and 

  

	 	3.2.2	 the Borrower shall submit invoice and progress report of the construction of the Project for subsequent utilization. 

Utilisation 
  

	4.	 In utilising the facilities hereunder, the Borrower agrees as follows: 

 

	4.1	 Term Loan Facility 

 The Borrower agrees to utilise the Loan in accordance with the procedures and conditions determined by the Bank and other conditions set out hereunder. The Borrower shall deliver the utilisation request to the Bank
at least 7 (seven) business days prior to the utilisation date and the proceeds from the utilisation shall be exclusively applied for the purposes of the Loan as specified in clause 1. At the end of the availability period, any unutilised Loan shall
deem to be cancelled by the Borrower. Any request for extension of the availability period is subject to the sole discretion of the Bank on a case-by-case basis. Utilization of Loan shall be in accordance with the following dates; 

 

	 	(i)	 June 15, 2011: Baht equivalent to USD 2 million; 

  

	 	(ii)	 September 15, 2011: Baht equivalent to USD 4 million; 

  

	 	(iii)	 December 15, 2011: Baht equivalent to USD 12 million; and 

 

	 	(iv)	 March 15, 2012: Baht equivalent to USD 12 million. 

  

	5.	 In respect of the Revolving Facility, the Borrower agrees that the Bank, by its sole discretion, may increase, decrease, suspend, restrict or cancel the
credit limit or change or modify the conditions of utilisation, whether in whole or in part. The provisions set out hereunder shall not prejudice to the Bank’s right to demand the Borrower to repay the indebtedness under the Revolving Facility
whether 

  
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in whole or in part before its specified due date including before the maturity date set forth in the relevant bills or notes. 

Interest Rate and Payment 
  

	6.	 The Borrower agrees to pay the interest over the principal of Loan at the rate of 5.28% (equivalent to 3- month LIBOR + 2.80%) per annum (subject to
change with market conditions in accordance with Swap Agreement). 

 Debt Payment 

 

	7.	 The Borrower agrees to pay the indebtedness under this Agreement in accordance with following procedures: 

 

	 	7.1	 With respect to the Term Loan Facility, the Borrower agrees to pay the principal and interest in Baht currency in accordance with Schedule 1 attached hereto
as an integral part of this Agreement. 

 The Bank reserves the right to adjust the number of instalment
of principal and interest payment and/or the payment amount for each instalment to reflect the interest amount payable in case of any change of interest rate because of an event of default specified in clause 18 of the General Terms where the
Borrower agrees to make debt repayment pursuant to the amount so adjusted to be notified by the Bank. 
  

	 	7.2	 The Borrower agrees that the Bank is authorised to deduct any amount in any account of the Borrower opened with the Bank including the following accounts on a
quarterly basis or at any time any sum is due and payable by the Borrower under this Agreement for a purpose of repayment of debt of the Borrower as set out hereunder: 

 

	 	-	 In case of Baht: current account, account number 099-1-05185-5 and saving account 099-2-37700-2 opened with [  ] Head Office [/ ] branch Talad
Seemummuang Branch. 

  

	 	-	 In case of [  ] US $ [  ] Euro [  ] Yen [  ]
Other        -            :     [savings/current]     account, account
number        -                 opened with [  ] Head Office [  ] branch
                    . 

 Fees
and Payment 
  

	8.	 The Borrower agrees to pay to the Bank the following fees and/or the fees in the amount and under the method agreed with the Bank and specified in the
separate fee letters: 

  

	 	8.1	 Up-front fee at the rate of 0.25 % of the total amount of the Loan payable to the Bank in full on the execution date hereof.

  

	 	8.2	 Commitment fee at the rate of 1% on the unutilized amount if the Borrower fails to utilize the Loan in accordance with the date specified in
(i) –(iv) of clause 4.1 hereunder or the amount utilized is below the amount specified in (i)- (iv) of clause 4.1 hereunder which shall be payable in quarterly installments on the last business day of that quarter.

  

	 	8.3	 Extension fee, if any, (for extension of availability period or principal repayment period): at the rate of 1% of the principal amount for which the extension
is requested, provided a written 

  
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consent is obtained from the Bank and the fee is payable on the execution date of such extension. 

 

	 	8.4	 Prepayment fee at the rate of 1% of the prepaid principal amount of the Loan payable to the Bank on the prepayment date except that source of fund used for
prepayment is derived from the Borrower’s income or increase of the Borrower’s capital. 

  

	 	8.5	 For Fixed Rate Term Loan, in the case that the Borrower prepays the loan, the Borrower will pay to the Bank on the prepayment date the excess, if a positive
number, of (A) the sum of the interest to be received by the Bank from the date of prepayment of the loan to the maturity date of the loan if there were no prepayment over (B) the sum of the interest to be received by the Bank by investing
the notional amount of the prepaid loan in the government bond with a similar remaining durations). The yield of the government bond will be interpolated from the closing yields of Thai Government Bonds announced by Thai Bond Market Association
(Thai BMA) on Reuter page “0#THTBMABMK=” or Bloomberg on page “TBMA 02” or any reliable sources of Thai Bond Market. If it is a negative number, no break cost shall apply. 

 

	 	8.6	 Cancellation fee at the rate of 1% of the cancelled amount of Loan payable to the Bank on the cancellation date. 

Governing Law 
  

	9.	 The Facility Agreement and the General Terms including any other documents executed under the Facility Agreement and the General Terms shall be governed and
construed by Thai law. 

 Special Terms and Conditions 

 

	10.	 As long as the Borrower has outstanding debts toward the Bank, the Co-Borrower shall maintain: 

10.1 DSCR for not less than 2.50 times; and 
 10.2 D/E ratio for not greater than 2.00 times. 
 “Debt Service Coverage
Ratio” or “DSCR” means earnings before interest expenses, depreciation and amortization plus cash on hand and deposits minus short terms debts divided by current long-term debts of the Co-Borrower for the preceding
12-month-period of such fiscal year plus interest expenses. 
 “Debt to Equity Ratio” means the total
debts and contingent liabilities of the Co-Borrower divided by equity minus intangible assets minus receivables from related companies and directors minus investment. 
  

	11.	 As long as the Borrower has outstanding debts toward the Bank, Mr. David T. Mitchell shall maintain shareholding ratio in the Co-Borrower and the
Borrower shall keep the Bank informed of the change in shareholding ratio held by Mr. David T. Mitchell within 30(thirty) days after the change. 

 

	12.	 If the Borrower early terminates the Hedging Facility prior to the final repayment of the Loan, the Borrower shall compensate the Bank against any losses,
damages, costs, claims, expenses and liabilities, including without limitation to, any loss of bargain, costs of funding and any costs or loss incurred as result of terminating, liquidating, obtaining or re-establishing such hedge or related

  
 -4- 

	 	 
trading position) sustained or incurred by the Bank as a result of the Borrower’s early termination whether in whole or in part. 

 

	13.	 Obligations of each Borrower hereunder shall be jointly and severally. 

 

			
	The Borrower
	
	Fabrinet Company Limited
		
	 By:
	 	 /s/ Soon Kaewchansilp

		
		 	 ( Mr. Soon Kaewchansilp )

		
		 	   Authorised Director

	
	The Co-Borrower
	
	Fabrinet
		
	 By:
	 	 /s/ David T. Mitchell

		
		 	 ( Mr. David T. Mitchell )

		
		 	   Authorised Director

	
	The Bank
	
	TMB Bank Public Company Limited
		
	 By:
	 	 /s/ Vikran Paovarojkit

		
		 	 ( Mr. Vikran Paovarojkit )

		
		 	 Authorized Representative

  

					
	 Signed
	 	 /s/ Chancherm Pitaksit
	 	 Witness

			
		 	 ( Ms. Chancherm Pitaksit )
	 	
			
	 Signed
	 	 /s/ Arunee Kongmalai
	 	 Witness

			
		 	 ( Mrs. Arunee Kongmalai)
	 	

  
 -5- 

 Schedule 1 
 Repayment Schedule 
  

											
	Year	 	Month	 	Date	 	Quarter	 	 Repayment in Baht
 Equivalent

to USD (million)

	  	 	  	 	  	 	  	 	Interest	 	Principal
	2011	 	Mar.	 	15	 	 	 	 	 	 
	 	 	June	 	15	 	1	 	 	 	 
	 	 	Sept.	 	15	 	2	 	Interest	 	 
	 	 	Dec.	 	15	 	3	 	Interest	 	 
	2012	 	Mar.	 	15	 	4	 	Interest	 	 
	 	 	June	 	15	 	5	 	Interest	 	1.5
	 	 	Sept.	 	15	 	6	 	Interest	 	1.5
	 	 	Dec.	 	15	 	7	 	Interest	 	1.5
	2013	 	Mar.	 	15	 	8	 	Interest	 	1.5
	 	 	June	 	15	 	9	 	Interest	 	1.5
	 	 	Sept.	 	15	 	10	 	Interest	 	1.5
	 	 	Dec.	 	15	 	11	 	Interest	 	1.5
	2014	 	Mar.	 	15	 	12	 	Interest	 	1.5
	 	 	June	 	15	 	13	 	Interest	 	1.5
	 	 	Sept.	 	15	 	14	 	Interest	 	1.5
	 	 	Dec.	 	15	 	15	 	Interest	 	1.5
	2015	 	Mar.	 	15	 	16	 	Interest	 	1.5
	 	 	June	 	15	 	17	 	Interest	 	1.5
	 	 	Sept.	 	15	 	18	 	Interest	 	1.5
	 	 	Dec.	 	15	 	19	 	Interest	 	1.5
	2016	 	Mar.	 	15	 	20	 	Interest	 	1.5
	 	 	June	 	15	 	21	 	Interest	 	1.5
	 	 	Sept.	 	15	 	22	 	Interest	 	1.5
	 	 	Dec.	 	15	 	23	 	Interest	 	1.5
	2017	 	Mar.	 	15	 	24	 	Interest	 	1.5
	Total	 	 	 	 	 	 	 	 	 	30

  
 -6-

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