Document:

Exhibit 10.1
    

    

    

    
      MINORITY STOCK PURCHASE AGREEMENT
    

    
      BY AND BETWEEN
    

    
      LEVITON MANUFACTURING CO., INC.
    

    
      AND
    

    
      THOMAS & BETTS CORPORATION
    

    
      DATED AS OF JUNE 24, 2008
    

    

    

    

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    

    

    
      MINORITY STOCK PURCHASE AGREEMENT

    

    
      THIS MINORITY STOCK PURCHASE AGREEMENT (this “Agreement”)
      is made as of June 24, 2008 by and between Leviton Manufacturing Co.,
      Inc, a Delaware corporation (the “Company”), and
      Thomas & Betts Corporation, a Tennessee corporation (“Seller”).
    

    
      RECITALS

    

    
      WHEREAS, Seller owns directly, beneficially and of record (i) 142 shares
      of Class A common stock, par value $1.00 per share, of the Company (the “Class
      A Common Stock”), (ii) 2,044.50 shares of Class B common stock, par
      value $1.00 per share, of the Company (the “Class B Common Stock”),
      and (iii) 3,330 shares of preferred stock, par value $100 per share, of
      the Company (the “Preferred Stock”).  The shares of Class A
      Common Stock, Class B Common Stock and Preferred Stock owned by Seller
      shall be referred to herein as the “Company Shares”.
    

    
      WHEREAS, Seller owns directly, beneficially and of record 11 shares of
      common stock, without nominal or par value per share, of Electro
      Porcelain Co. Ltd. (the “Electro Shares”), a company
      incorporated under the law of the Province of Ontario, Canada.
    

    
      WHEREAS, Seller owns directly, beneficially and of record 10 shares of
      common stock, without nominal or par value per share, of Deal Electric
      Corp. (the “Deal Electric Shares”), a New York corporation.
    

    
      WHEREAS, the Company desires to acquire the Company Shares, the Electro
      Shares and the Deal Electric Shares from Seller, and Seller desires to
      sell the Company Shares, the Electro Shares and the Deal Electric Shares
      to the Company, all upon the terms and subject to the conditions set
      forth in this Agreement.
    

    
      AGREEMENT

    

    
      NOW, THEREFORE, in consideration of the foregoing and the mutual
      covenants contained in this Agreement and for other valuable
      consideration the Company and Seller agree as follows:
    

    
      Article I.
TERMS OF THE SALE

    

    
        1.01  Definitions.
    

    
      Capitalized terms used and not otherwise defined herein have the
      meanings set forth in Section 5.13.
    

    
        1.02  Sale and Purchase of the Company Shares, the Electro Shares
      and the Deal Electric Shares.
    

    
      Upon the terms and subject to the conditions of this Agreement, at the
      Closing, Seller shall sell, transfer and deliver to the Company, and the
      Company shall purchase and acquire from Seller, the Company Shares, the
      Electro Shares and the Deal Electric Shares, free and clear of any
      Encumbrance (as defined in Section 2.05 below), for an aggregate
      purchase price of Three Hundred Million Dollars ($300,000,000) (the “Purchase
      Price”).
    

    
      
        

        

      

      
        
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        1.03  The Closing.  
    

    
      The closing of the purchase and sale of the Company Shares, the Electro
      Shares and the Deal Electric Shares (the “Closing”) shall
      be held at the offices of Gibson, Dunn & Crutcher LLP, 200 Park Avenue,
      New York, NY, at 10:00 A.M. (New York City time) on the date hereof (the
      “Closing Date”), or at such other place or at such other
      time or on such other date as Seller and the Company mutually may agree
      in writing.  At the Closing, (i) the Company shall deliver to Seller an
      amount equal to the Purchase Price in immediately available funds to a
      bank account designated in writing by Seller to the Company prior to the
      date hereof and (ii) Seller shall deliver to the Company certificates
      representing the Company Shares, the Electro Shares and the Deal
      Electric Shares, duly endorsed in blank or accompanied by stock powers
      duly endorsed in blank in proper form for transfer, with appropriate
      transfer stamps, if any, affixed.
    

    
        1.04  Contingent Payment. 
    

    
      (a)  If at any time on or before the third anniversary of the Closing
      Date (the “Three Year Period”), (i) the Company or any
      Shareholder shall Transfer, or enter into an agreement with respect to
      the Transfer, of any Common Stock Equivalents, at a Price Per Share
      greater than the Base Price, or (ii) the Company shall sell all or
      substantially all of the assets of the Company at a value that implies a
      Price Per Share greater than the Base Price, the Company shall pay to
      Seller, concurrently with the closing of such transaction, an amount in
      cash in immediately available funds equal to the product of (x) the
      excess, if any, of the Price Per Share over the Base Price, multiplied
      by (y) the number of shares of Common Stock underlying the Common Stock
      Equivalents Transferred in such transaction, multiplied further by (z)
      the Pro Rata Percentage.
    

    
      (b)  In the case of any Transfer of Common Stock Equivalents of the
      Company in exchange for Common Stock Equivalents of any other Person,
      the provisions of Section 1.04(a) shall apply to both the initial
      Transfer and to any subsequent Transfer by a Shareholder during the
      Three Year Period of the Common Stock Equivalents of such other Person
      that are received in the initial Transfer; provided, that the
      Price Per Share received by Seller with respect to any subsequent
      Transfer shall be reduced by the Price Per Share previously received by
      it in connection with each prior Transfer.
    

    
      (c)  The Consideration shall be determined as of the date of the
      execution of a definitive agreement in connection with such Transfer
      (the “Transfer Signing Date”), in the manner set forth
      below:
    

    
                 (i)  to the extent the Consideration consists of cash or cash
      equivalents, the value of the Consideration shall be deemed to be the
      amount of cash or the value of the cash equivalents so received;
    

    
      
        

        

      

      
        
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                (ii)  to the extent the Consideration consists of securities
      listed or admitted to trading on the New York Stock Exchange, Nasdaq
      Global Market, or any other principal national securities exchange (“Publicly
      Traded Securities”), the value of the Consideration shall be deemed
      to be the average of the daily closing prices per share of such security
      for the thirty (30) consecutive trading days immediately prior to, but
      not including, the Transfer Signing Date;
    

    
               (iii)  to the extent the Consideration consists of property
      other than cash, cash equivalents or Publicly Traded Securities, prior
      to the anticipated closing date of the Transfer (which may include any
      date prior to the anticipated Transfer Signing Date), the Company shall
      prepare and deliver to Seller a statement reflecting a good faith
      estimate of the value of the property to be received in the Transfer
      (the “Estimated Property Value Statement”) (the amount of
      the Estimated Property Value set forth on such statement, “Estimated
      Property Value”) and any additional information relating thereto
      reasonably requested by Seller.  Within fifteen (15) days after the
      receipt by Seller of the Estimated Property Value Statement, Seller
      shall deliver, or cause to be delivered, a written notice to the Company
      of any dispute Seller has with respect to the Company’s computation of
      the Estimated Property Value (the “Seller’s Objection”),
      specifying the nature and amount of such dispute.  If no such Seller’s
      Objection is delivered to the Company within the aforementioned time
      period, Seller shall be deemed to agree with the amount set forth
      therein.  If a Seller’s Objection is properly delivered, the Company and
      Seller shall negotiate in good faith to resolve such dispute.  If Seller
      and the Company, notwithstanding such good faith effort, fail to resolve
      such dispute within ten (10) days after delivery of the Seller’s
      Objection, then by the end of such ten (10) day period, Seller and the
      Company shall each engage an investment banking firm of national
      reputation and the value of such property shall be made by agreement of
      the two investment banking firms.  If such investment banking firms are
      unable to agree within fifteen (15) days following their appointment on
      the value of such property, its value shall be determined by a third
      investment banking firm selected by the first two investment banking
      firms, and the determination of such third investment banking firm shall
      be final and binding upon the Company and Seller.  The Company and
      Seller shall use their commercially reasonable efforts to cause the
      third investment banking firm to render its decision within ten (10)
      days following the submission thereof.  The costs of such third
      investment banking firm shall be borne equally by the Company and
      Seller.  
    

    
      (d)  Notwithstanding the foregoing, the provision of this Section
      1.04 shall not apply to (i) Transfers between or among Family,
      Shareholders and their Affiliates (as defined in Section 5.13
      below); (ii) issuances by the Company of Common Stock Equivalents (A) to
      executive officers of the Company in connection with his or her
      employment with the Company or its Affiliates; or (B) in connection with
      any bona fide debt financing transaction by the Company, provided that
      the aggregate number of Common Stock Equivalents issued pursuant to
      clause (ii) shall not exceed 10% of the Company’s outstanding Common
      Stock Equivalents; or (iii) the sale of American Insulated Wire
      Corporation.
    

    
      
        

        

      

      
        
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        1.05  Releases. 
    

    
      (a)  Upon payment in full of the Purchase Price and the delivery of the
      Company Shares, the Electro Shares, and the Deal Electric Shares in
      accordance with the terms set forth in Section 1.01 of this Agreement,
      the following mutual releases (the "Releases") shall take effect:  In
      consideration of the foregoing purchase and sale, each of the Company
      and its Affiliates, for itself, for its predecessors, successors, heirs,
      and assigns, and for any of its or their respective present and former
      officers, directors, stockholders, managers, members, partners,
      employees, agents, servants, associates, and representatives, hereby
      releases Seller and its Affiliates, predecessors, successors, heirs, and
      assigns, and its or their respective present and former officers,
      directors, stockholders, managers, members, partners, employees, agents,
      servants, associates, and representatives, and each of Seller and its
      Affiliates, for itself, for its predecessors, successors, heirs, and
      assigns, and for its or their respective present and former officers,
      directors, stockholders, managers, members, partners, employees, agents,
      servants, associates, and representatives, hereby releases the Company
      and its Affiliates, predecessors, successors, heirs, and assigns, and
      its or their respective present and former officers, directors,
      stockholders, managers, members, partners, employees, agents, servants,
      associates, and representatives, in each case from any and all claims,
      causes of action, proceedings, judgments, suits, and demands, whether in
      law or in equity, and whether based on any federal law, state law,
      common law right of action, or otherwise, foreseen or unforeseen,
      matured or unmatured, known or unknown, accrued or not accrued, by
      reason of any matter, cause, or thing whatsoever from the beginning of
      the world to the date of these Releases.  For the avoidance of doubt,
      and without in any way limiting the generality of the preceding
      sentence, the Releases shall include the release of any obligations of
      the Company and its Affiliates pursuant to the Order dated February 7,
      1996 (the "Order") in the action captioned Thomas & Betts
      Corporation v. Leviton Manufacturing Co., Inc. in the Delaware Court
      of Chancery.
    

    
      (b)  Seller shall execute and deliver such further instruments and take
      such further actions as the Company may reasonably request in connection
      with any efforts the Company may undertake to obtain the vacation of the
      Order.
    

    
      (c)  Nothing in this Agreement shall preclude any action to enforce this
      Agreement.
    

    
      
        

        

      

      
        
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      Article II.
REPRESENTATIONS AND WARRANTIES OF SELLER

    

    
      Seller hereby represents and warrants to the Company as follows:
    

    
        2.01  Existence and Power.
    

    
      Seller is duly organized, validly existing and in good standing under
      the governing laws of Tennessee, and has the requisite powers and all
      material governmental licenses, authorizations, consents and approvals
      required to complete the transactions contemplated by this Agreement.  
    

    
        2.02  Authorization.
    

    
      The execution, delivery and performance of this Agreement by Seller and
      the consummation by Seller of the transactions contemplated hereby are
      within Seller’s power and authority, and have been duly authorized by
      all necessary action on the part of Seller.  This Agreement has been
      duly executed and delivered by Seller and constitutes a valid and
      binding agreement of Seller, enforceable against Seller in accordance
      with its terms.
    

    
        2.03  Governmental Authorization.
    

    
      The execution, delivery and performance of this Agreement by Seller
      requires no action by or in respect of, or filing with, any United
      States federal, state, or local, or non-United States government,
      political subdivision, governmental, regulatory or administrative
      authority, instrumentality, agency, body or commission, self-regulatory
      organization, or any court, tribunal or judicial or arbitral body (each,
      a “Government Authority”).
    

    
        2.04  Non-Contravention.
    

    
      The execution, delivery and performance by Seller of this Agreement and
      the consummation by Seller of the transactions contemplated hereby do
      not and will not (i) contravene, violate or conflict with the articles
      of incorporation or bylaws or equivalent organizational documents of
      Seller; (ii) contravene, violate or conflict with any provision of any
      federal, state or local statue, law, regulation, judgment, injunction,
      order or decree (“Law”) binding upon or applicable to the
      Company Shares, the Electro Shares, the Deal Electric Shares, or Seller;
      (iii) require the consent of any beneficiary on whose behalf Seller
      holds the Company Shares, the Electro Shares or the Deal Electric
      Shares, or any other third party, whether pursuant to the terms of the
      governing documents for Seller or otherwise; (iv) constitute a breach or
      default under or give rise to any right of termination, cancellation or
      acceleration of any right or obligations of any person or to a loss of
      any benefit to which Seller is entitled under any provision of any
      agreement, contract, license, permit or other instrument binding upon
      Seller or by which any of the properties, assets or rights of Seller or
      the Company Shares, the Electro Shares or the Deal Electric Shares are
      or may be bound; or (v) result in the creation or imposition of any
      lien, security interest, charge or encumbrance on any asset of Seller or
      result in the creation or imposition of any lien, security interest,
      charge or encumbrance upon any of the Company Shares, the Electro Shares
      or the Deal Electric Shares.
    

    
      
        

        

      

      
        
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        2.05  The Company Shares; the Electro Shares; the Deal Electric
      Shares.
    

    
      (a)  Seller has good and marketable title to, and is the record and
      beneficial owner of the Company Shares, the Electro Shares and the Deal
      Electric Shares.  At the Closing, upon delivery to the Company of
      certificates for the Company Shares, the Electro Shares and the Deal
      Electric Shares and the Company’s payment of the Purchase Price, the
      Company shall acquire good, valid and marketable title to, and all
      right, title and interest in and to, the Company Shares, the Electro
      Shares and the Deal Electric Shares, free and clear of any charge,
      limitation, condition, lien, security interest, adverse claim, mortgage,
      pledge, restriction, encumbrance or defect of title of any kind
      (collectively, “Encumbrances”).  Other than the Company
      Shares, the Electro Shares and the Deal Electric Shares, neither Seller
      nor any of its Affiliates, owns, directly or indirectly, any other
      interests in the Company or any Affiliate of the Company.
    

    
      (b)  In connection with the execution and performance of this Agreement,
      Seller has not relied upon any information or representations made or
      furnished by or on behalf of the Company, except as expressly set forth
      in this Agreement.
    

    
      Article III.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY

    

    
      The Company hereby represents and warrants to Seller as follows:
    

    
        3.01  Organization and Existence.
    

    
      The Company is duly organized, validly existing and in good standing
      under the governing laws of the State of Delaware, and has the requisite
      powers and all material governmental licenses, authorizations, consents
      and approvals required to complete the transactions contemplated by this
      Agreement.  
    

    
        3.02  Authorization.  
    

    
      The execution, delivery and performance of this Agreement by the Company
      and the consummation by the Company of the transactions contemplated
      hereby are within the Company’s power and authority, and have been duly
      authorized by all necessary action on the part of the Company.  This
      Agreement has been duly executed and delivered by the Company and
      constitutes a valid and binding agreement of the Company, enforceable
      against the Company in accordance with its terms.  
    

    
        3.03  Governmental Authorization.
    

    
      The execution, delivery and performance of this Agreement by the Company
      require no action by or in respect of, or filing with, any Government
      Authority.
    

    
        3.04  Non-Contravention.  
    

    
      The execution, delivery and performance by the Company of this Agreement
      and the consummation by the Company of the transactions contemplated
      hereby do not and will not (i) contravene, violate or conflict with the
      articles of incorporation or bylaws or equivalent organizational
      documents of the Company; (ii) contravene, violate or conflict with any
      provision of any Law binding upon or applicable to the Company;
      (iii) require the consent of any third party, whether pursuant to the
      terms of the governing documents for the Company or otherwise; or
      (iv) constitute a breach or default under or give rise to any right of
      termination, cancellation or acceleration of any right or obligations of
      any person or to a loss of any benefit to which the Company is entitled
      under any provision of any agreement, contract, license, permit or other
      instrument binding upon the Company or by which any of the properties,
      assets or rights of the Company are or may be bound.
    

    
      
        

        

      

      
        
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        3.05  Capitalization. 
    

    
      (a)  As of the date hereof, the authorized capital stock of the Company
      consists of (i) 1,250 shares of Class A Common Stock, of which 603
      shares are issued and outstanding on the date hereof, (ii) 60,000 shares
      of Class B Common Stock, of which 6,902.83 shares are issued and
      outstanding on the date hereof and (iii) 180,000 shares of Preferred
      Stock, of which 27,260 shares are issued and outstanding on the date
      hereof.  The Company has not issued or agreed to issue any (A) shares of
      capital stock or other equity, ownership or voting interest; (B)
      securities or instruments convertible into or exchangeable for shares of
      capital stock or other equity, ownership or voting interests; or (C)
      Common Stock Equivalents, earnings, profits or revenue-based or
      equity-based rights.  All of the issued and outstanding Company Shares
      are duly authorized, validly issued, fully paid and nonassessable, and
      were issued in compliance with all applicable federal and state
      securities laws.  There are no outstanding obligations of the Company to
      issue, sell, transfer, repurchase or redeem any shares of capital stock
      of the Company, or any securities or shares of capital stock of the
      Company, or that relate to the holding, voting or disposition thereof.
    

    
      (b)  Schedule A sets forth a true, complete and correct list of the
      Shareholders of the Company at the date of this Agreement.  Except for
      the Seller, each such Shareholder is a member of the Family.
    

    
        3.06  Financial Statements.
    

    
      (a)  The Company has delivered to Seller the audited balance sheet of
      the Company as of December 31, 2007, and statements of income and
      retained earnings and a statement of cash flow for calendar year 2007,
      together with all related notes and schedules thereto, accompanied by
      the reports thereon of the Company’s independent auditors (collectively,
      the “Financial Statements”).
    

    
      (b)  The Financial Statements (i) have been prepared in accordance with
      GAAP applied on a consistent basis throughout the periods indicated
      (except as may be indicated in the notes thereto) and (ii) fairly
      present, in all material respects, the financial condition, results of
      operations and cash flows of the Company as of the respective dates
      thereof and for the respective periods indicated therein, except as
      otherwise noted therein.
    

    
      
        

        

      

      
        
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      3.07  No Transfers.
    

    
      Neither the Company nor, to the knowledge of the Company, any
      Shareholder, has any present plan, proposal or intention to engage in,
      or to enter into any agreement with respect to, the Transfer of any
      Common Stock Equivalents except for transfers between Shareholders.
    

    
      Article IV.
INDEMNIFICATION

    

    
      4.01  Survival of Representations, Warranties.
    

    
      (a)  The representations and warranties of Seller and the Company (other
      than the Company’s representations and warranties set forth in Section
      3.06, which shall not survive the Closing Date) contained in this
      Agreement and any schedule, certificate or other document delivered
      pursuant hereto or thereto or in connection with the transactions
      contemplated hereby shall survive the Closing until the third
      anniversary of the Closing Date (the “Expiration Date”).  
    

    
      (b)  Neither the Seller nor the Company shall have any liability
      whatsoever with respect to any such representations and warranties
      unless a claim is made hereunder prior to the Expiration Date, in which
      case such representation and warranty shall survive as to such claim
      until such claim has been finally resolved.
    

    
      4.02.  Indemnification by Seller.  
    

    
      Seller shall save, defend, indemnify and hold harmless the Company and
      its Affiliates (and the respective representatives, successors and
      assigns of each of the foregoing) from and against any and all losses,
      damages, liabilities, deficiencies, claims, interest, awards, judgments,
      penalties, costs and expenses (including attorneys’ fees, costs and
      other out-of-pocket expenses incurred in investigating, preparing or
      defending the foregoing through trial and all appeals) (hereinafter
      collectively, “Losses”) asserted against, incurred,
      sustained or suffered by any of the foregoing as a result of, arising
      out of or relating to:
    

    
      (a)  any breach of any representation or warranty made by Seller
      contained in this Agreement, or on any schedule, certificate or other
      document delivered pursuant hereto or in connection with the
      transactions contemplated hereby; and
    

    
      (b)  any breach of any covenant or agreement by Seller contained in this
      Agreement, or on any schedule, certificate or other document delivered
      pursuant hereto or in connection with the transactions contemplated
      hereby.
    

    
      4.03.  Indemnification by the Company.  
    

    
      The Company shall save, defend, indemnify and hold harmless Seller and
      its Affiliates (and the respective representatives, successors and
      assigns of each of the foregoing) from and against any and all Losses
      asserted against, incurred, sustained or suffered by any of the
      foregoing as a result of, arising out of or relating to:
    

    
      
        

        

      

      
        
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      (c)  any breach of any representation or warranty made by the Company
      contained in this Agreement (other than the representations and
      warranties set forth in Section 3.06), or on any schedule,
      certificate or other document delivered pursuant hereto or in connection
      with the transactions contemplated hereby; and
    

    
      (d)  any breach of any covenant or agreement by the Company contained in
      this Agreement, or on any schedule, certificate or other document
      delivered pursuant hereto or in connection with the transactions
      contemplated hereby.
    

    
      4.04.  Procedures.  
    

    
      (e)  In order for a party (the “Indemnified Party”)
      to be entitled to any indemnification provided for under this Agreement
      in respect of, arising out of or involving a Loss or a claim or demand
      made by any person against the Indemnified Party (a “Third
      Party Claim”), such Indemnified Party shall deliver notice thereof
      to the party against whom indemnity is sought (the “Indemnifying
      Party”) promptly after receipt of written notice of the Third Party
      Claim, describing in reasonable detail the facts giving rise to any
      claim for indemnification hereunder, the amount or method of computation
      of the amount of such claim (if known) and such other information with
      respect thereto as the Indemnifying Party may reasonably request.  The
      failure to provide such notice, however, shall not release the
      Indemnifying Party from any of its obligations under this Article IV
      except to the extent that the Indemnifying Party is materially
      prejudiced by such failure.
    

    
      (f)  The Indemnifying Party shall have the right, upon written notice to
      the Indemnified Party within thirty (30) days of receipt of notice from
      the Indemnified Party of the commencement of such Third Party Claim, to
      assume the defense thereof at the expense of the Indemnifying Party with
      counsel selected by the Indemnifying Party unless (i) the Indemnifying
      Party is also a named party to such Third Party claim and legal counsel
      to the Indemnified Party determines in good faith that joint
      representations would be inappropriate due to an ethical conflict or a
      conflict of interest or (ii) the Indemnifying Party failed to provide
      reasonable assurance to the Indemnified Party of its financial capacity
      to competently defend such Third Party Claim and provide indemnification
      with respect to such Third Party Claim.  If the Indemnifying Party
      assumes the defense of such Third Party Claim, the Indemnified Party
      shall have the right to employ separate counsel and to participate in
      the defense thereof, but the fees and expenses of such counsel shall be
      at the expense of the Indemnified Party.  If the Indemnifying Party
      assumes the defense of any Third Party Claim, the Indemnified Party
      shall reasonably cooperate with the Indemnifying Party in such defense
      and make available to the Indemnifying Party all witnesses, pertinent
      records, materials and information in the Indemnified Party’s possession
      or under the Indemnified Party’s control relating thereto as is
      reasonably required by the Indemnifying Party.  Whether or not the
      Indemnifying Party assumes the defense of a Third Party Claim, the
      Indemnified Party shall not admit any liability with respect to, or
      settle, compromise or discharge, or offer to settle, compromise or
      discharge, such Third Party Claim without the Indemnifying Party’s prior
      written consent, (which consent shall not be unreasonably withheld).
    

    
      
        

        

      

      
        
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      (g)  In the event an Indemnified Party should have a claim against the
      Indemnifying Party hereunder that does not involve a Third Party Claim
      being asserted against or sought to be collected from the Indemnified
      Party, the Indemnified Party shall deliver notice of such claim promptly
      to the Indemnifying Party, describing in reasonable detail the facts
      giving rise to any claim for indemnification hereunder, the amount or
      method of computation of the amount of such claim (if known) and such
      other information with respect thereto as the Indemnifying Party may
      reasonably request.  The failure to provide such notice, however, shall
      not release the Indemnifying Party from any of its obligations under
      this Article IV except to the extent that the Indemnifying Party is
      prejudiced by such failure.  The Indemnified Party shall provide
      reasonable access to personnel and to information, records and documents
      relating to such matters.
    

    
      4.05  Sole Remedy.
    

    
      The right to indemnification under this Article IV, subject to
      all of the terms, conditions and limitations hereof, shall constitute
      the sole and exclusive right and remedy available to any party hereto
      (other than any claims relating to fraud by the other party) for any
      actual or threatened breach of this Agreement and neither the Company
      nor Seller shall initiate or maintain any legal action at law or in
      equity against the other party hereto (other than any claims relating to
      fraud by the other party) which is directly or indirectly related to any
      breach or threatened breach of this Agreement on or after the Closing
      Date.  
    

    
      Article V.
MISCELLANEOUS

    

    
      5.01  Further Assurances.  
    

    
      Each party hereto shall execute and deliver such further instruments and
      take such further actions as the other party hereto may reasonably
      request in order to carry out the intent of this Agreement.
    

    
       5.02  Information; Confidentiality.
    

    
      (a)  Seller hereby acknowledges that after the Closing Date, Seller
      shall have no right to receive (i) financial information on the Company
      or any of its Affiliates, (ii) any information with respect to the
      Company’s operations, or (iii) copies of any audited or unaudited
      financial statements of the Company or any of its Affiliates.  
    

    
      (b)  For a period of two (2) years following the Closing Date, Seller
      shall not, and Seller shall cause its Affiliates and the respective
      representatives of the Seller and its Affiliates not to, use for its or
      their own benefit or divulge or convey to any third party, any
      Confidential Information; provided, however, that Seller
      or its Affiliates may furnish such portion (and only such portion) of
      the Confidential Information as Seller or such Affiliate reasonably
      determines it is legally obligated to disclose if (i) it receives a
      request to disclose all or any part of the Confidential Information
      under the terms of a subpoena, civil investigative demand or order
      issued by a Government Authority; and (ii) to the extent practicable and
      not otherwise inconsistent with such request, it notifies the Company of
      the existence, terms and circumstances surrounding such request in order
      to allow the Company to seek an order or other reliable assurance that
      confidential treatment will be accorded to the disclosed Confidential
      Information.
    

    
      
        

        

      

      
        
          11
        

        
          

        

      

      
        

        

      

    

    
      5.03  Notices.
    

    
      All notices, requests and other communications to any party hereunder
      shall be in writing signed by or on behalf of the party making the same,
      will specify the section under this Agreement pursuant to which it is
      given or made, and will be delivered (a) personally, (b) by facsimile to
      the number identified below, or (c) by registered or certified United
      States mail or by any reputable overnight courier service to the address
      identified below:
    

    
    	
           
        	
          If to the Company, to:
        	
          Leviton Manufacturing Co., Inc.
        
	

        	

        	
          59-25 Little Neck Parkway
        
	

        	

        	
          Little Neck, NY 11362-2591
        
	

        	

        	
          Fax: (718) 281-6568
        
	

        	

        	
          Attn: Donald J. Hendler
        
	

        	

        	
          Attn: Donald Richenthal
        
	

        	

        	
           
        
	

        	
          With a copy to:
        	
          Gibson, Dunn & Crutcher LLP
        
	

        	

        	
          200 Park Avenue
        
	

        	

        	
          New York, NY 10166-0193
        
	

        	

        	
          Fax: (212) 351-6202
        
	

        	

        	
          Attn: Barbara L. Becker
        
	

        	

        	
           
        
	

        	
          If to Seller, to:
        	
          Thomas & Betts Corporation
        
	

        	

        	
          8155 T&B Boulevard, 4D-51
        
	

        	

        	
          Memphis, TN 38125
        
	

        	

        	
          Fax: (901) 252-1475
        
	

        	

        	
          Attn: Jim N. Raines
        
	

        	

        	
           
        
	

        	
          With a copy to:
        	
          Davis Polk & Wardwell
        
	

        	

        	
          450 Lexington Avenue
        
	

        	

        	
          New York, NY 10017
        
	

        	

        	
          Fax: (212) 450-3277
        
	

        	

        	
          Attn: Paul R. Kingsley
        

    

    
      or to such other address or number and with such other copies, as such
      party may hereafter specify for the purpose by notice to the other
      party.  Each such notice, request or other communication shall be
      effective (i) if given by facsimile, when such facsimile is transmitted
      to the facsimile number specified above and evidence of receipt is
      received or (ii) if given by any other means, upon delivery or refusal
      of delivery at the address specified above.
    

    
      5.04  Amendments; No Waivers.
    

    
      (a)  Any provision of this Agreement may be amended or waived if, and
      only if, such amendment or waiver is in writing and signed, (i) in the
      case of an amendment, by the Company and Seller, or (ii) in the case of
      a waiver, by the party against whom the waiver is to be effective.
    

    
      
        

        

      

      
        
          12
        

        
          

        

      

      
        

        

      

    

    
      (b)  No failure or delay by any party, in exercising any right, power or
      privilege hereunder, shall operate as a waiver thereof nor shall any
      single or partial exercise thereof preclude any other or further
      exercise thereof or the exercise of any other right, power or
      privilege.  The rights and remedies herein provided shall be cumulative
      and not exclusive of any rights or remedies provided by Law.
    

    
      5.05  Expenses.
    

    
      All costs and expenses incurred in connection with this Agreement shall
      be paid by the party incurring such costs or expenses.
    

    
      5.06  Successors and Assigns.
    

    
      Neither this Agreement nor any of the rights, interests or obligations
      under this Agreement may be assigned or delegated, in whole or in part,
      by operation of Law or otherwise, by either party without the prior
      written consent of the other party, and any such assignment without such
      prior written consent shall be null and void; provided, however,
      that the Company may assign this Agreement to any Affiliate of the
      Company without the prior consent of Seller; provided, that no
      assignment shall limit the assignor's obligations hereunder and provided,
      further, that Section 1.04 of this Agreement shall
      terminate upon a Change of Control (as defined in Section 5.13
      below) of Seller.  The provisions of this Agreement shall be binding
      upon, inure to the benefit of, and be enforceable by, the parties and
      their respective successors and assigns.
    

    
      5.07  Governing Law; Forum.
    

    
      (a)  This Agreement shall be governed by and construed in accordance
      with the Laws of the State of New York without regard to its conflicts
      of law rules.
    

    
      (b)  Legal actions or proceedings arising out of this Agreement shall be
      brought exclusively in the federal courts, or in the absence of federal
      jurisdiction in state courts, in either case in the Borough of
      Manhattan, City of New York.  The parties hereto irrevocably and
      unconditionally submit to the jurisdiction of such courts and agree to
      take any and all future action necessary to submit to the jurisdiction
      of such courts.  The parties hereto irrevocably waive any objection that
      they now have or hereafter may have to the laying of venue of any suit,
      action or proceeding brought in any such court and further irrevocably
      waive any claim that any such suit, action or proceeding brought in any
      such court has been brought in an inconvenient forum.
    

    
      5.08  Counterparts; Effectiveness.
    

    
      This Agreement may be signed in any number of counterparts, each of
      which shall be an original, with the same effect as if the signatures
      thereto and hereto were upon the same instrument.  This Agreement shall
      become effective when each party hereto shall have received a
      counterpart hereof signed by the other party hereto.  Signatures
      transmitted by facsimile shall be deemed to be original signatures.
    

    
      
        

        

      

      
        
          13
        

        
          

        

      

      
        

        

      

    

    
      5.09  Entire Agreement.
    

    
      This Agreement constitutes the entire agreement between the Company and
      Seller with respect to the subject matter hereof and supersedes all
      prior agreements, understandings and negotiations, both written and
      oral, between the Company and Seller with respect to the subject matter
      of this Agreement.  No other representation, inducement, promise,
      understanding, condition or warranty not set forth herein has been made
      or relied upon by any party hereto.  Neither this Agreement nor any
      provision hereof is intended to confer upon any person other than the
      Company and Seller any rights or remedies hereunder.
    

    
        5.10  Headings.
    

    
      The captions herein are included for convenience of reference only and
      shall be ignored in the construction or interpretation hereof.
    

    
        5.11  Public Announcements.
    

    
      Seller and the Company shall consult with each other before issuing, and
      provide each other the opportunity to review and comment upon, any press
      release or other public statement with respect to the transactions
      contemplated hereby, and shall not issue any such press release or make
      any such public statement prior to such consultation and without
      receiving the other’s written consent thereto (which shall not
      unreasonably be withheld), except as my be required by applicable
      Law.  It shall not be unreasonable for the Company to withhold such
      consent to the extent such refusal is based on non-disclosure of the
      Company's Confidential Information.
    

    
        5.12  Treatment of the Transaction.
    

    
      After the Closing, Seller’s status as a shareholder of the Company shall
      be terminated and Seller shall no longer have any rights or obligations
      as a shareholder of the Company.  Neither Seller nor the Company shall
      take the position, for U.S. federal, state, or local income tax purposes
      that (i) the right of Seller to receive the payments described in Section
      1.04(a) constitutes an equity interest in the Company or (ii) Seller
      is a shareholder of the Company.
    

    
        5.13  Certain Defined Terms.  
    

    
      For purposes of this Agreement:
    

    
      “Affiliate” means with respect to any person, any other
      person that directly, or indirectly through one or more intermediaries,
      controls, is controlled by, or is under common control with, such first
      person.
    

    
      “Base Price” means $137,053.28, as such amount shall be
      adjusted from time to time as appropriate to reflect stock splits, stock
      dividends, recapitalizations (including any issuance of Common Stock for
      less than fair value) and other similar events.
    

    
      “Change of Control” means (i) a merger or consolidation of
      Seller with, or an acquisition of Seller or all or substantially all of
      its assets by, any other entity, other than a merger, consolidation or
      acquisition in which the individuals who constitute a majority of the
      members of Seller’s board of directors immediately prior to such
      transaction continue to constitute a majority of the board of directors
      of the surviving corporation (or, in the case of an acquisition
      involving a holding company, constitute a majority of the board of
      directors of the holding company) following the closing of such
      transaction; (ii) when any Person or entity or group of Persons or
      entities (other than any trustee or other fiduciary holding securities
      under an employee benefit plan of Seller or any one or more of the
      present stockholders of Seller or their Affiliates) either related or
      acting in concert becomes after the date hereof the “beneficial owner”
      (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as
      amended) of securities of Seller representing more than fifty percent
      (50%) of the total number of votes that may be cast for the election of
      directors of Seller; or (iii) a complete liquidation of Seller or a sale
      or disposition of all or substantially all of its assets.
    

    
      
        

        

      

      
        
          14
        

        
          

        

      

      
        

        

      

    

    
      “Common Stock” means (i) the Class A Common Stock, (ii) the
      Class B Common Stock, (iii) any other class or series of common stock
      of, or other common equity interest in, the Company, voting or
      nonvoting, with or without par value, hereafter created, and (iv) any
      common stock of, or other common equity interest in, any other Person
      received by any Shareholder in exchange for Common Stock Equivalents of
      the Company, whether by merger, consolidation, share exchange or
      otherwise.
    

    
      “Common Stock Equivalent” means (i) any shares of Common
      Stock, (ii) any securities convertible into or exchangeable for Common
      Stock, or (iii) any options or other rights to acquire Common Stock or
      securities convertible into or exchangeable for Common Stock.
    

    
      “Confidential Information” means all documents, information
      and data furnished to Seller by or on behalf of the Company, including
      any documents furnished by any of the Company’s advisors, relating to
      the Company or its Affiliates (other than information that is or becomes
      available to the public other than as a result of a breach of Section
      5.02 of this Agreement).
    

    
      “Consideration” means the product of the Price Per Share
      received or to be received by the Company or any Shareholder in a
      Transfer, multiplied by the number of Common Stock Equivalents
      Transferred in such transaction.
    

    
      “Family” means Shirley and Harold Leviton, their three
      daughters, grandchildren, great-grandchildren and all other issue,
      including spouses of all of the aforementioned, and any trusts, estates
      or partnerships (including limited partnerships or limited liability
      companies) in which any of them have a beneficial interest.
    

    
      “GAAP” means United States generally accepted accounting
      principles as in effect on the date hereof.
    

    
      “Person” means an individual, corporation, partnership,
      limited partnership, limited liability company, person, trust,
      association or entity.
    

    
      “Price Per Share” means the price per share received by the
      Company or any Shareholder in a Transfer, including any amounts to be
      received on exercise of any option or other right to acquire Common
      Stock included in such transaction but net of any expenses incurred by
      the Company or any Shareholder in connection with such Transfer.
    

    
      
        

        

      

      
        
          15
        

        
          

        

      

      
        

        

      

    

    
      “Pro Rata Percentage” means the percentage of outstanding
      Common Stock of the Company owned by Seller as of the date hereof.  For
      the avoidance of doubt, it is hereby agreed that Seller’s Pro Rata
      Percentage as of the date hereof means 29.131%.
    

    
      “Shareholder” means each existing shareholder of the
      Company as named on Schedule A and any successor thereto that is
      a member of the Family.
    

    
      “Transfer” means the consummation of any issuance or sale
      by the Company, or any sale, transfer or other disposition by any
      Shareholder, of Common Stock Equivalents, directly or indirectly,
      whether in a private transaction, in the pubic markets, by operation of
      Law, or otherwise.  “Transfer” when used as a verb shall have a
      correlative meaning.
    

    

    

    
      [SIGNATURE PAGES FOLLOW]
    

    

    

    

    

    
      
        

        

      

      
        
          16
        

        
          

        

      

      
        

        

      

    

    

    

    
      IN WITNESS WHEREOF, this Agreement has been duly executed by the Company
      and Seller as of the day and year first above written.
    

    

    

    
      COMPANY:

LEVITON MANUFACTURING CO., INC.

By:                                                                                                                   
Name:
Title:

SELLER:

THOMAS
      & BETTS CORPORATION

By:                                                                                                                   
Name:
Title:

    

    

    

    

    

    
      Signature page for Minority Stock Purchase Agreement

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    

    

    
      SCHEDULE A

    

    
      NAMES OF COMPANY SHAREHOLDERS

    

    
      Marital Trust f/b/o Shirley Leviton
    

    
      Shirley Leviton
    

    
      Shirley Leviton 2007 GRAT f/b/o A. Hendler
    

    
      Shirley Leviton 2007 GRAT f/b/o E. Kriegman
    

    
      Shirley Leviton 2008 GRAT f/b/o A. Hendler
    

    
      Shirley Leviton 2008 GRAT f/b/o E. Kriegman
    

    
      Leviton Family Associates LP
    

    
      Leviton Family Associates LP #2
    

    
      Sokolow Family Associates LP
    

    
      Patricia Sokolow
    

    
      Patricia Sokolow 2008 GRAT
    

    
      Patricia Sokolow A/C/F Amanda Sokolow
    

    
      Stephen Sokolow
    

    
      Scott L. Sokolow
    

    
      L. Pamela Sokolow Randall
    

    
      Lee S. Larizadeh
    

    
      Jacqueline S. Wachsman
    

    
      Jacqueline S. Wachsman A/C/F Alec J. Wachsman
    

    
      Hendler Family Associates LP
    

    
      Adrienne Hendler
    

    
      Adrienne Hendler 2008 GRAT
    

    
      Donald Hendler
    

    
      Sarah Hendler
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      Ian Hendler
    

    
      Ian Hendler A/C/F Julian Hendler
    

    
      Noah Hendler
    

    
      Noah Hendler A/C/F  Hazel E. Hendler
    

    
      Kriegman Family Associates LP
    

    
      Elizabeth Kriegman
    

    
      Elizabeth Kriegman 2008 GRAT
    

    
      Andrew Kriegman
    

    
      Elizabeth Kriegman A/C/F Katherine Kriegman
    

    
      Elizabeth Kriegman A/C/F Samuel L. Kriegman
    

    
      Elizabeth Kriegman A/C/F Rebecca Kriegman
    

    
      Thomas & Betts CorporationExhibit 10.1

 Exhibit 10.1 
  

			
	         FOURTH AMENDMENT TO
 CREDIT AGREEMENT
	 	LASALLE RETAIL FINANCE

 Date: June 20, 2008 
 THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Fourth Amendment”) is made to the Credit Agreement (as amended, the
“Credit Agreement”) dated as of July 2, 2007 by and among: 
 (a) American Apparel (USA), LLC
(f/k/a AAI Acquisition LLC (successor-by-merger to American Apparel, Inc.)), a corporation organized under the laws of the State of California, with its principal executive offices at 747 Warehouse Street, Los Angeles, California 90021, for
itself and as agent (in such capacity, the “Lead Borrower”) for the other Borrowers now or hereafter party to the Credit Agreement; and 
 (b) the BORROWERS now or hereafter party to the Credit Agreement; and 
 (c) the
FACILITY GUARANTORS now or hereafter party to the Credit Agreement; and 
 (d) LASALLE BUSINESS CREDIT, LLC, AS
AGENT FOR LASALLE BANK MIDWEST NATIONAL ASSOCIATION, ACTING THROUGH ITS DIVISION, LASALLE RETAIL FINANCE, with offices at 100 Federal Street, 9th Floor, Boston, Massachusetts 02110, as administrative agent (in such capacity, the
“Administrative Agent”) for its own benefit and the benefit of the other Credit Parties; and 
 (e)
LASALLE BUSINESS CREDIT, LLC, AS AGENT FOR LASALLE BANK MIDWEST NATIONAL ASSOCIATION, ACTING THROUGH ITS DIVISION, LASALLE RETAIL FINANCE, with offices at 100 Federal Street, 9th Floor, Boston, Massachusetts 02110, as collateral agent (in
such capacity, the “Collateral Agent”, and together with the Administrative Agent, individually an “Agent” and collectively, the “Agents”) for its own benefit and the benefit of the other Credit
Parties; and 
 (f) WELLS FARGO RETAIL FINANCE, LLC, with
offices at One Boston Place, 19th Floor, Boston, Massachusetts 02108, as collateral monitoring agent (in such capacity, the “Collateral
Monitoring Agent”) for its own benefit and the benefit of the other Credit Parties; and 
 (g) the LENDERS
party to the Credit Agreement; and 

 (h) LASALLE BANK NATIONAL ASSOCIATION, a national banking association with offices
at 135 South LaSalle Street, Chicago, Illinois 60603, as Issuing Bank; 
 in consideration of the mutual covenants herein contained and
benefits to be derived herefrom, the parties hereto agree as follows: 
 Background: 
 A. Amendment. The parties hereto entered into that certain First Amendment to Credit Agreement on October 11, 2007, that certain Second
Amendment and Waiver to Credit Agreement on November 26, 2007, and that certain Third Amendment to Credit Agreement on December 12, 2007. The parties hereto desire to further amend the Credit Agreement on the terms and conditions set forth
herein. 
 B. Waivers. On May 16, 2008, the parties hereto executed that certain Waiver and Consent to Credit Agreement, pursuant
to which the Loan Parties agreed to enter into an amendment to the Credit Agreement and other related documents in order to effect (i) certain changes to the terms and provisions of the Credit Agreement, and (ii) a joinder by American
Apparel, Inc. (f/k/a Endeavor Acquisition Corp.), a Delaware corporation with an address at 747 Warehouse Street, Los Angeles, California 90021 (the “Parent”), to the Credit Agreement and the other Loan Documents as a Facility
Guarantor thereunder. On June 5, 2008, the parties hereto executed that certain Waiver to Credit Agreement (the “June Waiver”), pursuant to which the Loan Parties agreed to enter into the New Fourth Amendment Documents (as such
term is defined in the June Waiver). 
 Accordingly, it is hereby agreed, as follows: 
 1. Amendment to Credit Agreement. Subject to satisfaction of each and all of the Preconditions to Effectiveness set forth in Section 2
hereof, the Credit Agreement is amended as follows: 
  

	 	a.	By deleting Exhibit K (Form of Compliance Certificate) to the Credit Agreement in its entirety and substituting the attached Exhibit K in its stead.

  

	 	b.	By deleting Exhibit M (Financial Performance Covenants) to the Credit Agreement in its entirety and substituting the attached Exhibit M in its stead.

  

	 	c.	By adding new Schedule 1.03, Schedule 1.04 and Schedule 1.05 to the Credit Agreement in the forms annexed hereto. 

  

	 	d.	By deleting Schedules 2.18(a), 2.18(c)(iii), 2.18(h), 3.01, 3.05(a), 3.05(b), 3.05(c)(i), 3.05(c)(ii), 3.06,
3.12, 3.13, 3.14, and 6.01 to the Credit Agreement in their entirety and substituting the attached Schedules Schedules 2.18(a), 2.18(c)(iii), 2.18(h), 3.01, 3.05(a), 3.05(b),
3.05(c)(i), 3.05(c)(ii), 3.06, 3.12, 3.13, 3.14, and 6.01 in their stead. 

  

 -2- 

	 	e.	By adding to Section 1.01 the following new definitions in appropriate alphabetical order: 

 “Canadian Lender” means The Toronto-Dominion Bank in its capacity as the lender pursuant to the Canadian Loan. 
 “Canadian Loan” means the loan or any refinancing made by the Canadian Lender to the Canadian Subsidiaries. 
 “Canadian Subsidiaries” means (i) each of American Apparel Canada Wholesale Inc. and American Apparel Canada Retail Inc., each a
wholly-owned Subsidiary of the Parent, and (ii) all other wholly-owned Subsidiaries of the Parent organized under the laws of Canada or any political subdivision thereof. The term “Canadian Subsidiary” shall mean any one of the
foregoing Persons. 
 “Fourth Amendment Effective Date” means the date on which all of the conditions precedent set forth in
the Fourth Amendment and the other Loan Documents executed and delivered in connection therewith have been satisfied, as determined in the sole discretion of the Agents. 
 “Fourth Amendment Fee Letter” means the Fee Letter dated as of June 20, 2008 by and among the Lead Borrower and the Agents. 
 “Parent” means American Apparel, Inc. (f/k/a Endeavor Acquisition Corp.), a Delaware corporation. 
 “SPAC Blocked Accounts” means the deposit accounts numbered 48685387, 9939581478, and 000000002211351 of the Parent with Citi Private
Bank subject to a Blocked Account Agreement among Citi Private Bank, the Parent and the Collateral Agent. 
  

	 	f.	By deleting the definition of “Applicable Margin” in its entirety and substituting the following definition in its stead: 

 “Applicable Margin” means the following: 
  

			
	 Applicable Margin for LIBO Loans
	  	 Applicable Margin for Prime Rate Loans

	 2.50%
	  	0.50%

  

	 	g.	By amending the definition of “Change in Control” by deleting the phrase “;or” at the end of clause (d) thereof and by deleting clause (e) thereof
(regarding ownership by Dov Charney of certain Capital Stock) in its entirety. 

  

	 	h.	By deleting the definition of “Facility Guarantors” in its entirety and substituting the following definition in its stead: 

 “Facility Guarantors” means (i) the Borrowers, (ii) each of the Subsidiaries of the Borrowers, whether now
existing or hereafter created or acquired, other than any Foreign Subsidiaries, (iii) American Apparel, LLC, a California limited liability company, (iv) the Parent, and (v) any other Person required to become a Facility Guarantor
hereunder. 
  

 -3- 

	 	i.	By deleting the definition of “Letter of Credit” in its entirety and substituting the following definition in its stead: 

 “Letter of Credit” means a letter of credit or similar instrument (including, without limitation, a banker’s
acceptance) that is (i) issued pursuant to this Agreement for the account of a Borrower, (ii) a Standby Letter of Credit or Commercial Letter of Credit, issued in connection with the purchase of Inventory by a Borrower and for other
purposes for which such Borrower has historically obtained letters of credit, or for any other purpose that is reasonably acceptable to the Administrative Agent, and all deferred payment obligations arising with respect to any of the foregoing, and
(iii) in form reasonably satisfactory to the Issuing Bank. 
  

	 	j.	By deleting the definition of “Payment Conditions” in its entirety and substituting the following definition in its stead: 

 “Payment Conditions” means (i) no Default or Event of Default shall have occurred or be continuing nor shall result
from the making of such Investment, distribution, dividend or payment, and (ii) at least five (5) days prior to the making of any such Investment, distribution, dividend or payment, the Lead Borrower shall have delivered to the
Administrative Agent (A) a certificate from the chief financial officer of the Lead Borrower stating that at the time of, and after giving effect to such Investment, distribution, dividend or payment, Excess Availability was not less than
twenty percent (20%) of the Borrowing Base for the thirty (30) consecutive days immediately prior, and shall be on a pro forma basis for the sixty (60) consecutive days immediately following, the making of such Investment,
distribution or dividend, not less than twenty percent (20%) of the Borrowing Base, and (B) supporting documentation, in form and substance satisfactory to the Administrative Agent, demonstrating calculation of Excess Availability for such
periods. 
  

	 	k.	By amending the definition of “Permitted Acquisitions” by deleting “and” at the end of clause (g) thereof, by adding “; and” at the end of clause
(h) thereof, by deleting the last sentence thereto, and by adding the following clause (i) at the end thereof: 

 “(i) The Payment Conditions shall be satisfied; provided that the Loan Parties may make Acquisitions in an aggregate amount not to exceed $3,000,000 from the Fourth Amendment Effective Date until the Maturity Date without
satisfying the Payment Conditions so long as the conditions set forth in clauses (a) through (h) above have been satisfied.” 
  

	 	l.	By amending the definition of “Permitted Dividends” by deleting clauses (d), (e), and (f) thereof (regarding treatment of Loan Parties as “S” corporations
and certain payments to Dov Charney and Sang H. Lim, respectively) in their entirety, adding the phrase “or to any Subsidiary” at the end of clause (c) thereof, and renumbering clause (g) thereof as clause (d).

  

 -4- 

	 	m.	By amending the definition of “Permitted Encumbrances” as follows: 

  

	 	i.	By deleting clause (h) thereof in its entirety and substituting the following new clause (h) in its stead: 

 “(h) Liens on fixed or capital assets acquired by any Loan Party or any Subsidiary which are permitted under clause (e) of the definition of
Permitted Indebtedness so long as (i) such Liens and the Indebtedness secured thereby are incurred prior to or within ninety (90) days after such acquisition or the completion of the construction or improvement thereof (other than
refinancings thereof permitted hereunder), (ii) the Indebtedness secured thereby does not exceed 100% of the cost of acquisition of such fixed or capital assets, and (iii) such Liens shall not extend to any other property or assets of the
Loan Parties;” 
  

	 	ii.	By deleting the word “and” at the end of clause (m) thereof, re-lettering clause (n) thereof as clause (o), and inserting the following new clause (n):

 “(n) Liens in favor of the Canadian Lender securing the obligations of American Apparel Canada Wholesale Inc. and
American Apparel Canada Retail Inc. under the Canadian Loan;” 
  

	 	n.	By amending the definition of “Permitted Indebtedness” as follows: 

  

	 	i.	By deleting clause (d) thereof in its entirety and substituting the following new clause (d) in its stead: 

 “(d)(i) Guarantees by any Loan Party of Indebtedness of any other Loan Party, (ii) Guarantees by any Foreign Subsidiary of Indebtedness of
another Foreign Subsidiary, and (iii) Guarantees by any Loan Party of Indebtedness in respect of Leases of any Foreign Subsidiary existing as of the Fourth Amendment Effective Date and described on Schedule 1.03 annexed hereto;”

  

	 	ii.	By adding the phrase “or any Subsidiary” immediately after the phrase “of any Loan Party” in the first line thereof and by deleting the phrase
“$15,000,000” in clause (e) thereof and substituting the phrase “$20,000,000” in its stead and; 

  

	 	iii.	By deleting the word “and” at the end of clause (m) thereof, re-lettering clauses (m) and (n) thereof as clauses (q) and (r), respectively, and
inserting the following new clauses (m), (n), (o) and (p): 

 “(m) Indebtedness due the Canadian Lender under the
Canadian Loan; 
 (n) Indebtedness incurred by American Apparel Canada Wholesale, Inc. and due Dov Charney, as such Indebtedness is evidenced
by that certain Promissory Note dated as of December 11, 2007 (as in effect on the date hereof, the “US Dov Promissory Note”) in the aggregate principal amount of $3,804,300.00; 
  

 -5- 

 (o) Indebtedness incurred by American Apparel Canada Wholesale, Inc. and due Dov Charney, as such
Indebtedness is evidenced by that certain Promissory Note dated as of December 11, 2007 (as in effect on the date hereof, the “CN Dov Promissory Note”) in the aggregate principal amount of CAD$2,200,000.00; 
 (p) Indebtedness incurred by any Subsidiary to a Loan Party or any other Subsidiary to the extent that such Indebtedness is created by the acceptance of
any Permitted Investment;” 
  

	 	o.	By amending the definition of “Permitted Investments” as follows: 

  

	 	i.	By deleting the phrase “means each of the following:” from the first line thereof and substituting the phrase “means, in each case to the extent made when no Event of
Default then exists or would arise therefrom, each of the following:” 

  

	 	ii.	By deleting the word “and” at the end of clause (i) thereof, deleting clause (j) thereto in its entirety and substituting the following new clause (j) in
its stead, and inserting the following new clauses (k), (l) and (m): 

 “(j) the Investments by a Loan Party in a
Foreign Subsidiary (other than a Canadian Subsidiary) described on Schedule 1.04 annexed hereto on the Fourth Amendment Effective Date and subsequently other Investments by a Loan Party in a Foreign Subsidiary (other than a Canadian
Subsidiary) to the extent such other Investments do not exceed $10,000,000 in the aggregate, provided that any initial Investment permitted pursuant to this clause (j) shall be included without duplication as to any subsequent
reinvestment of the same funds by the recipient of such initial Investment in a Subsidiary of such Person; 
 (k) without duplication of
Investments permitted by clause (j) above, other Investments by a Foreign Subsidiary in another Foreign Subsidiary; 
 (l) irrespective
of whether the Payment Conditions have been met, other Investments not to exceed $2,000,000 in the aggregate outstanding at any time; and 
 (m) other Investments provided that the Payment Conditions have been met.” 
  

	 	iii.	By deleting the proviso at the end thereof in its entirety and substituting the following new proviso in its stead: 

 “provided, however, that notwithstanding the foregoing, (i) no such Investments shall be permitted unless such Investments are,
to the extent requested by the Agents, pledged to the Collateral Agent, as additional collateral for the Obligations, pursuant to such agreements as may be reasonably required by the Agents, and (ii) regardless of whether the Payment Conditions
have been met, under no circumstances shall any Investment in any Canadian Subsidiary constitute a “Permitted Investment” hereunder, other than (x) any Investment in any Canadian Subsidiary in existence as of the Fourth Amendment
Effective 

  

 -6- 

 
Date and described on Schedule 1.05 annexed hereto, or (y) any Investment permitted pursuant to clause (k) hereof. For purposes of clarity
and avoidance of doubt, sales of Inventory by a Loan Party to a Foreign Subsidiary (including, without limitation, a Canadian Subsidiary) do not constitute Investments and therefore do not need to qualify as “Permitted Investments”
hereunder.” 
  

	 	p.	By deleting Section 2.16(d) thereto in its entirety and substituting the following new 2.16(d) in its stead: 

 “(d) (i) Each DDA Notification shall require the ACH or wire transfer not less frequently than twice weekly (and whether or not there is then an
outstanding balance in the Loan Account) of all available cash receipts (the “Cash Receipts”) to the concentration account maintained by the Collateral Agent at LaSalle Bank (the “Concentration Account”) or to a
Blocked Account (other than to a SPAC Blocked Account), and (ii) each Credit Card Agreement, Blocked Account Agreement (other than the Blocked Account Agreement with respect to the SPAC Blocked Accounts) and Lockbox Agreement shall require the
ACH or wire transfer on each Business Day (and whether or not there is then an outstanding balance in the Loan Account) of all available Cash Receipts to the Concentration Account maintained, in each case, including, without limitation, those from:

 (i) the sale of Inventory and other Collateral; 
 (ii) all proceeds of collections of Accounts; 
 (iii) all Net Proceeds, and all other cash payments received by a Borrower from any Person or from any source or on account of any
Prepayment Event or other transaction or event; 
 (iv) the then contents of each DDA (net of any minimum balance, not to
exceed $2,500.00, as may be required to be kept in the subject DDA by the bank at which such DDA is maintained); and 
 (v)
the proceeds of all credit card charges. 
 Notwithstanding the foregoing or the provisions of clause (e) below, prior to the occurrence
of an Event of Default, the Loan Parties shall be permitted to keep cash on hand (or cash equivalents) received by the Loan Parties in connection with the SPAC Transaction and existing on the Fourth Amendment Effective Date in an aggregate amount
not to exceed $30,000,000 in the SPAC Blocked Account. The SPAC Blocked Account shall require, upon notice to the Blocked Account Bank from the Collateral Agent after an Event of Default, the ACH or wire transfer on each Business Day (and whether or
not there is then an outstanding balance in the Loan Account) of all available amounts contained in the SPAC Blocked Account to the Concentration Account. 
  

 -7- 

	 	q.	By deleting Section 5.12 thereto in its entirety and substituting the following new Section 5.12 in its stead: 

 “SECTION 5.12 Additional Subsidiaries. 
 If any Loan Party shall form or acquire a Subsidiary after the Closing Date, the Lead Borrower will notify the Agents thereof and
(a) if such Subsidiary is not a Foreign Subsidiary, the Lead Borrower will cause such Subsidiary to become a Loan Party hereunder and under each applicable Security Document in the manner provided therein within ten (10) Business Days
after such Subsidiary is formed or acquired and promptly take such actions to create and perfect Liens on such Subsidiary’s assets to secure the Obligations as the Administrative Agent or the Required Lenders shall request, (b) if any
shares of Capital Stock or Indebtedness of such Subsidiary are owned by or on behalf of any Loan Party, the Lead Borrower will cause such shares and promissory notes evidencing such Indebtedness to be pledged to secure the Obligations within ten
(10) Business Days after such Subsidiary is formed or acquired (except that (i) if such Subsidiary is a Foreign Subsidiary that is not a Canadian Subsidiary, shares of Capital Stock of such Subsidiary to be pledged may be limited to 65% of
the outstanding shares of Capital Stock of such Subsidiary, and (ii) if such Subsidiary is a Canadian Subsidiary, the Lead Borrower shall not be obligated to cause such shares of Capital Stock of such Canadian Subsidiary to be pledged to secure
the Obligations until such time as the Canadian Loan is refinanced in accordance with the terms of this Agreement with a lender other than the Canadian Lender). 
  

	 	r.	By amending Section 6.07 (Restricted Payments; Certain Payments of Indebtedness) as follows: 

  

	 	i.	By deleting clause (a) thereof in its entirety and substituting the following new clause (a) in its stead: 

 “(a) No Loan Party will, or will permit any Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any
Restricted Payment other than (i) Permitted Dividends, (ii) so long as no Event of Default has occurred and is continuing, repurchases of the Loan Parties’ Capital Stock in an amount not to exceed $30,000,000 in the aggregate with the
proceeds of the Loan Parties’ cash on hand (or cash equivalents) contained in the SPAC Blocked Account, without the prior consent of the Administrative Agent and the Required Lenders and (iii) other Restricted Payments so long as the
Payment Conditions have been satisfied.” 
  

	 	ii.	By deleting sub-clause (i) of clause (b) thereof in its entirety and substituting the following new sub-clause (i) in its stead: 

 “(i) as long as no Event of Default then exists or would arise therefrom, (x) mandatory payments of interest and principal as
and when due, and (y) prepayments of principal not to exceed $1,000,000.00 in any twelve-month period, in each case in respect of any Permitted Indebtedness (other than Subordinated Indebtedness, the SOF Investments Loan and the Indebtedness
described in clauses (n) and (o) of the definition of “Permitted Indebtedness”);” 
  

	 	iii.	By deleting “and” at the end of sub-clause (iv) of clause (b) thereof, deleting sub-clause (v) of clause (b) thereof in its entirety and substituting
the following new sub-clauses (v), (vi), (vii) and (viii) in its stead: 

 “(v) refinancing of
any Permitted Indebtedness to the extent that (i) the principal amount of the Indebtedness being so refinanced is not increased by such refinancing except on account of fees and expenses required to be paid incidental to such refinancing,
provided that in no event shall such increased principal amount exceed 102% of principal amount of the Indebtedness being so refinanced, (ii) such refinancing is on terms and conditions reasonably acceptable to the Administrative Agent,
and (iii) the refinancing lender enters into an intercreditor agreement with the Administrative Agent on terms and conditions that the Agents, in their sole discretion exercised in good faith, deem necessary or desirable; 
  

 -8- 

 (vi) payments as and when due pursuant to the Canadian Loan, provided that
(x) such payments shall be made only by a Canadian Subsidiary, and (y) no Loan Party may transfer proceeds of any Loan to any Canadian Subsidiary for purposes of making any such payments; 
 (vii) any prepayments of principal on the US Dov Promissory Note or the CN Dov Promissory Note to the extent such payments are permitted
by the Canadian Lender, provided that (x) such prepayments shall be made only by a Canadian Subsidiary, and (y) no Loan party may transfer proceeds of any Loan to any Canadian Subsidiary for purposes of making any such prepayments;
and 
 (vii) other payments on account of Permitted Indebtedness so long as the Payment Conditions have been satisfied.”

  

	 	s.	By amending Section 6.09 (Restrictive Agreements) by deleting the last sentence thereof in its entirety and substituting the following new sentence in its stead:

 “Notwithstanding anything in this SECTION 6.09 to the contrary, neither (i) (a) the prohibition on the pledge
of security interest in the Capital Stock of the Canadian Subsidiaries, nor (b) the prohibition on the granting of any guaranty or security interest by the Canadian Subsidiaries, in each case as set forth in the Canadian Loan, nor (ii) the
prohibitions, restrictions and impositions of conditions expressly set forth in the Merger Agreement and Lim Option Agreement (to the extent such prohibitions, restrictions and impositions of conditions are in connection with the consummation of the
merger or the transactions related thereto as expressly set forth in the Merger Agreement and would not result in a Material Adverse Effect) shall be prohibited by this SECTION 6.09.” 
 2. Preconditions to Effectiveness. This Fourth Amendment shall not take effect unless and until each and all of the following items has been satisfied or
delivered, as the case may be, and in all events, to the satisfaction of the Agents, in their sole and exclusive discretion. The willingness of the Agents and the Lenders to enter into this Fourth Amendment is expressly conditioned upon the receipt
by the Administrative Agent of the following items:  
  

	 	a.	On or prior to the date hereof, the Lead Borrower, the Borrowers, and the Facility Guarantors shall have delivered to the Administrative Agent a duly executed copy of this Fourth
Amendment, including all schedules and exhibits to be replaced in accordance with the terms hereof, and evidence that the Borrowers have obtained all necessary consents and approvals to this Fourth Amendment. 

  

 -9- 

	 	b.	The Administrative Agent, SOF Investments and the Loan Parties shall have executed and delivered to the Administrative Agent, in form and substance reasonably satisfactory to each
of the Administrative Agent and SOF Investments, an agreement (the “Intercreditor Letter Agreement”) with respect to the amendments and other modifications to the Loan Documents contemplated hereby and by the Loan Documents
described in Section 2(f)(iv) hereof, pursuant to which (i) SOF Investments shall have consented to such amendments and other modifications, and (ii) the intercreditor agreement between the Administrative Agent and SOF Investments
shall have been amended to, among other things, modify the definition of “Required Leverage Ratio” set forth therein. 

  

	 	c.	The Loan Parties shall have delivered to the Administrative Agent a duly executed copy of the Amendment No. 7 to the SOF Investments Loan. 

  

	 	d.	The Lead Borrower, the Borrowers, and the Facility Guarantors shall have delivered to the Administrative Agent such other and further documents as the Administrative Agent
reasonably may require and shall have identified prior to the execution of this Fourth Amendment, in order to confirm and implement the terms and conditions of this Fourth Amendment. 

  

	 	e.	On or prior to the date hereof, the Borrowers shall have paid to the Administrative Agent, for the ratable benefit of the Lenders, an amendment fee in the amount of $93,750.00. In
this regard, the amendment fee shall be fully earned as of the date of execution of this Fourth Amendment, and the Administrative Agent is hereby authorized to make a Revolving Credit Loan under the Credit Agreement to pay the amendment fee.

  

	 	f.	On or prior to the date hereof, the Borrowers shall have paid the fees set forth in the Fourth Amendment Fee Letter. 

  

	 	g.	The Parent (and each other Loan Party, to the extent requested by the Agents) shall each have delivered the following to the Agents, in form and substance reasonably satisfactory to
the Agents: 

  

	 	i.	A Certificate of Legal Existence and Good Standing issued by the Secretary of the State of its incorporation or organization, and Certificates of Foreign Qualification issued by the
Secretary of State of any jurisdiction in which such Person is qualified to do business; 

  

	 	ii.	A certificate of an authorized officer relating to the organization and existence of such party, the authorization of the transactions contemplated by the 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 Charter Documents; 

  

 -10- 

	 	iii.	A Perfection Certificate; 

  

	 	iv.	The following duly executed Loan Documents: 

  

	 	a)	Joinder and First Amendment to Security Agreement; 

  

	 	b)	Fourth Amendment Fee Letter; 

  

	 	c)	Amended and Restated Ownership Interest and Intercompany Note Pledge and Security Agreement; 

  

	 	d)	Amended and Restated Guaranty; and 

  

	 	e)	such other documents and agreements reasonably required by the Agents. 

  

	 	h.	The Collateral Agent shall have received results of searches or other evidence reasonably satisfactory to the Collateral Agent (dated as of a date reasonably satisfactory to the
Collateral Agent) indicating the absence of Liens on the assets of the Parent, except for Permitted Encumbrances and Liens for which termination statements and releases or subordination agreements are being tendered on the date hereof.

  

	 	i.	The Collateral Agent shall have received all documents and instruments, including financing statements, required by law or reasonably requested by the Collateral Agent to be filed,
registered or recorded to create or perfect the first priority Liens intended to be created under the Loan Documents with respect to the Parent and all such documents and instruments shall have been so filed, registered or recorded to the
satisfaction of the Agents. 

  

	 	j.	The Agents shall have received an opinion of counsel to the Loan Parties, addressed to the Agents and each Lender, as to such matters concerning the Parent, the other Loan Parties
and the Loan Documents as the Administrative Agent may reasonably request. 

  

	 	k.	No Default or Event of Default shall exist. 

  

	 	l.	No material misstatements in or omissions shall exist from the materials previously furnished to the Agents or any Lender for their review. The Agents shall be satisfied that any
financial statements delivered to them fairly present the business and financial condition of the Loan Parties and their subsidiaries, and that there has been no material adverse change in the assets, business, financial condition, income or
prospects of the Loan Parties since the date of the most recent financial information delivered to the Agents. 

  

 -11- 

	 	m.	Except as set forth on Schedule 3.06 to the Credit Agreement, there shall not be pending any litigation or other proceeding, the result of which could reasonably be expected to have
a Material Adverse Effect. 

  

	 	n.	No default of any material contract or agreement of any Loan Party or any Subsidiary of any Loan Party shall exist. 

 3. Post-Closing Matters: 
  

	 	a.	Within thirty (30) days following the Fourth Amendment Effective Date, the Loan Parties shall have delivered to the Collateral Agent, in form and substance reasonably
satisfactory to the Collateral Agent, a duly executed Blocked Account Agreement with Citi Private Bank with respect to the SPAC Blocked Accounts. 

  

	 	b.	The Loan Parties have advised the Administrative Agent that Fresh Air Freight, Inc., a California corporation (“Fresh Air”), is not in good standing in the State of
California for failure to pay franchise taxes. The Loan Parties have further advised the Administrative Agent that such taxes were paid on or about June 5, 2008, and that the sole reason for failure of Fresh Air to be in good standing is the
failure of the applicable Governmental Authority to process payment. Within sixty (60) days following the Fourth Amendment Effective Date, the Loan Parties shall have delivered to the Administrative Agent, in form and substance reasonably
satisfactory to the Administrative Agent, certificates and other evidence that Fresh Air is in good standing in the State of California. 

  

	 	c.	The Loan Parties have advised the Administrative Agent that American Apparel Retail, Inc., a California corporation (“AA Retail”), is not qualified to do business
as a foreign corporation in the State of Tennessee for failure to pay franchise taxes. Within sixty (60) days following the Fourth Amendment Effective Date, the Loan Parties shall have delivered to the Administrative Agent, in form and
substance reasonably satisfactory to the Administrative Agent, certificates and other evidence that AA Retail is qualified to do business as a foreign corporation in the State of Tennessee. 

 4. Ratification of Loan Documents. No Claims against any Lender: 
  

	 	a.	Except as provided herein, all terms and conditions of the Credit Agreement and of each of the other Loan Documents remain in full force and effect. Each Loan Party hereby ratifies,
confirms, and re-affirms all terms and provisions of the Loan Documents. 

  

 -12- 

	 	b.	Each Loan Party hereby makes all representations, warranties, and covenants set forth in the Credit Agreement as of the date hereof (other than representations, warranties and
covenants that relate solely to an earlier date. To the extent that any changes in any representations, warranties, and covenants require any amendments to the schedules to the Credit Agreement, such schedules are hereby updated, as evidenced by any
supplemental schedules (if any) annexed to this Fourth Amendment. 

  

	 	c.	Each Loan Party represents and warrants to the Administrative Agent and each Lender that as of the date of this Fourth Amendment, no Event of Default exists, or solely with the
passage of time or notice, would exist under the Loan Documents. 

  

	 	d.	Each Loan Party acknowledges and agrees that to its actual knowledge (i) there is no basis nor set of facts on which any amount (or any portion thereof) owed by any of the Loan
Parties under any Loan Document could be reduced, offset, waived, or forgiven, by rescission or otherwise; (ii) nor is there any claim, counterclaim, off set, or defense (or other right, remedy, or basis having a similar effect) available to
any of the Loan Parties with regard thereto; (iii) nor is there any basis on which the terms and conditions of any of the Obligations could be claimed to be other than as stated on the written instruments which evidence such Obligations.

  

	 	e.	Each of the Loan Parties hereby acknowledges and agrees that it has no offsets, defenses, claims, or counterclaims against the Agents, the Lenders, or their respective parents,
affiliates, predecessors, successors, or assigns, or their officers, directors, employees, attorneys, or representatives, with respect to the Obligations, or otherwise, and that if any of the Loan Parties now has, or ever did have, any offsets,
defenses, claims, or counterclaims against such Persons, whether known or unknown, at law or in equity, from the beginning of the world through this date and through the time of execution of this Fourth Amendment, all of them are hereby expressly
WAIVED, and each of the Loan Parties hereby RELEASES such Persons from any liability therefor. 

 5. Miscellaneous: 
  

	 	a.	Terms used in this Fourth Amendment which are defined in the Credit Agreement are used as so defined. 

  

	 	b.	This Fourth Amendment may be executed in counterparts, each of which when so executed and delivered shall be an original, and all of which together shall constitute one agreement.

  

 -13- 

	 	c.	This Fourth Amendment 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. 

  

	 	d.	Any determination that any provision of this Fourth Amendment 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 Fourth Amendment. 

  

	 	e.	The Borrowers shall pay on demand all reasonable costs and expenses of the Agents and the Lenders, including, without limitation, attorneys’ fees incurred by the Agents in
connection with the preparation, negotiation, execution, and delivery of this Fourth Amendment. The Administrative Agent is hereby authorized by the Borrowers to make one or more Revolving Credit Loans to pay all such costs, expenses, and
attorneys’ fees and expenses. 

  

	 	f.	connection with the interpretation of this Fourth Amendment and all other documents, instruments, and agreements incidental hereto: 

  

	 	i.	All rights and obligations hereunder and thereunder, including matters of construction, validity, and performance, shall be governed by and construed in accordance with the law of
The Commonwealth of Massachusetts and are intended to take effect as sealed instruments. 

  

	 	ii.	The captions of this Fourth Amendment are for convenience purposes only, and shall not be used in construing the intent of the parties under this Fourth Amendment.

  

	 	iii.	In the event of any inconsistency between the provisions of this Fourth Amendment and any of the other Loan Documents, the provisions of this Fourth Amendment shall govern and
control. 

  

	 	g.	The Agents, the Lenders, the Borrowers, and the Facility Guarantors have prepared this Fourth Amendment and all documents, instruments, and agreements incidental hereto with the aid
and assistance of their respective counsel. Accordingly, all of them shall be deemed to have been drafted by the Agents, the Lenders, the Borrowers, and the Facility Guarantors and shall not be construed against any party. 

[Signatures Follow] 
  

 -14- 

 IN WITNESS WHEREOF, the undersigned have caused this Fourth Amendment to be duly executed under
seal as of the date first set forth above. 
  

			
	AMERICAN APPAREL (USA), LLC (f/k/a AAI Acquisition LLC (successor-by-merger to American Apparel, Inc.), as Lead Borrower and as a Borrower
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO
	
	AMERICAN APPAREL RETAIL, INC.,
	as a Borrower
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO
	
	AMERICAN APPAREL DYEING & FINISHING, INC.,
	as a Borrower
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO

 Signature Page to Fourth Amendment to Credit Agreement 

			
	KCL KNITTING, LLC,
	as a Borrower
		
	By:	 	American Apparel (USA), LLC, its sole member
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO

 Signature Page to Fourth Amendment to Credit Agreement 

					
	AMERICAN APPAREL, LLC,
	as a Facility Guarantor
		
	By:	 	American Apparel (USA), LLC, its sole member
			
		 	By:	 	 /s/ Dov Charney

		 	Name:	 	Dov Charney
		 	Title:	 	CEO
	
	FRESH AIR FREIGHT, INC.,
	as a Facility Guarantor
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO
	
	AMERICAN APPAREL, INC. (f/k/a Endeavor Acquisition Corp.), as a Facility Guarantor
		
	By:	 	 /s/ Dov Charney

	Name:	 	Dov Charney
	Title:	 	CEO

 Signature Page to Fourth Amendment to Credit Agreement 

			
	 LASALLE BUSINESS CREDIT, LLC,
 AS AGENT FOR LASALLE BANK MIDWEST
 NATIONAL ASSOCIATION, ACTING
 THROUGH ITS DIVISION, LASALLE RETAIL
 FINANCE, as Administrative Agent, as
 Collateral Agent, as Swingline Lender and as
 Lender

		
	 By:
	 	 /s/ Stephen J. Garvin

	 Name:
	 	 Stephen J. Garvin

	 Title:
	 	 Vice President

	
	LASALLE BANK NATIONAL ASSOCIATION,
	as Issuing Bank
		
	By:	 	 /s/ Stephen J. Garvin

	Name:	 	 Stephen J. Garvin

	Title:	 	 Vice President

 Signature Page to Fourth Amendment to Credit Agreement 

			
	WELLS FARGO RETAIL FINANCE, LLC, as
	Collateral Monitoring Agent and as a Lender
		
	By:	 	 /s/ Emily Abrahamson

	Name:	 	Emily Abrahamson
	Title:	 	Assistant Vice President/Account
		 	Executive

 Signature Page to Fourth Amendment to Credit Agreement 

			
	NATIONAL CITY BUSINESS CREDIT, INC.,
	as a Lender
		
	By:	 	 /s/ Kathryn C. Ellero

	Name:	 	Kathryn C. Ellero
	Title:	 	Vice President

 Signature Page to Fourth Amendment to Credit Agreement

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