Document:

Exhibit 4.1

 

AMENDMENT NO. 2 TO RIGHTS AGREEMENT

 

THIS AMENDMENT NO. 2 TO RIGHTS AGREEMENT (this
“Amendment”), dated as of February 13, 2014, by and between JOS. A.
Bank Clothiers, Inc., a Delaware corporation (the “Company”), and CONTINENTAL STOCK TRANSFER & TRUST
COMPANY, (“Rights Agent”), is made with reference to the following facts:

 

A.           The
Company and the Rights Agent entered into that certain Rights Agreement (the “Rights Agreement”), dated as of
September 6, 2007 and amended as of January 3, 2014 (the “First Amendment”), in order to implement a shareholder
rights plan as more fully described therein. Terms with initial letters capitalized that are not otherwise defined herein shall
have their respective meanings as set forth in the Rights Agreement.

 

B.           Pursuant
to Section 27 of the Rights Agreement, the Company may amend or supplement any provision of the Rights Agreement, prior to
a Distribution Date, which the Company may deem necessary or desirable, without approval of any holders of Rights Certificates,
and the Rights Agent shall, if the Company so directs, execute such supplement or amendment.

 

C.           The
Company, EVEREST TOPCO LLC (“Seller”) and EVEREST HOLDINGS LLC (“Holdings”) have proposed
to enter into a Membership Interest Purchase Agreement (as it may be amended or supplemented from time to time, the “Purchase
Agreement”) dated February 13, 2014, pursuant to which, among other things, Seller will sell, and the Company will purchase,
all of the membership interests of Holdings on the terms and conditions set forth in the Purchase Agreement, the consideration
to be paid by the Company to include Common Shares.

 

D.           The
Company desires to amend the Rights Agreement in certain respects as set forth herein, to provide that neither Seller nor or any
of its respective Associates or Affiliates shall be deemed an Acquiring Person, and that neither a Shares Acquisition Date nor
a Distribution Date shall be deemed to occur, as a result of the execution, delivery or performance of the Purchase Agreement or
the consummation of the transactions contemplated thereby.

 

E.           The
Company, pursuant to a resolution duly adopted by its Board of Directors, has determined that it is desirable to amend the Rights
Agreement as provided in this Amendment.

 

F.           The
Company hereby states that there is not as of the date hereof any Acquiring Person and no Distribution Date has occurred under
the Rights Agreement.

 

    	 

    	 

    

  

G.           The
Company hereby states that all acts and things necessary to make this Amendment a valid agreement according to its terms have been
done and performed, and the execution and delivery of this Amendment by the Company and the Rights Agent have been in all respects
authorized by the Company and the Rights Agent.

 

NOW, THEREFORE, pursuant to Section 27 of the Rights Agreement,
the Company and the Rights Agent hereby amend, effective upon the date hereof, the Rights Agreement as follows:

 

1.             Amendment
of Section 1(a).  The definition of “Acquiring Person” set forth in Section 1(a) of the Rights
Agreement is amended and restated to read in its entirety as follows:

 

“(a)          “Acquiring
Person” shall mean any Person (as such term is hereinafter defined) who or that, together with all Affiliates and Associates
(as such terms are hereinafter defined) of such Person, shall be the Beneficial Owner (as such term is hereinafter defined) of
10% or more of the Common Shares then outstanding. Notwithstanding the foregoing, (A) the term Acquiring Person shall not include
(i) the Company, (ii) any Subsidiary (as such term is hereinafter defined) of the Company, (iii) any employee benefit or compensation
plan of the Company or any Subsidiary of the Company or (iv) any entity holding Common Shares for or pursuant to the terms of any
such employee benefit or compensation plan of the Company or any Subsidiary of the Company, (B) no Person shall become an “Acquiring
Person” (i) as the result of an acquisition of Common Shares by the Company which, by reducing the number of Common Shares
issued and outstanding, increases the proportionate number of Common Shares beneficially owned by such Person to 10% or more of
the Common Shares then outstanding; provided, however, that if a Person shall become the Beneficial Owner of 10% or more of the
Common Shares then outstanding by reason of share purchases by the Company and shall, following written notice from, or public
disclosure by the Company of such share purchases by the Company, become the Beneficial Owner of any additional Common Shares without
the prior consent of the Company and shall then Beneficially Own more than 10% of the Common Shares then outstanding, then such
Person shall be deemed to be an “Acquiring Person,” (ii) as the result of the acquisition of Common Shares directly
from the Company; provided, however, that if a Person shall become the Beneficial Owner of 10% or more of the Common Shares then
outstanding by reason of share purchases or issuances directly from the Company and shall, after that date, become Beneficial Owner
of any additional Common Shares without the prior consent of the Company and shall then Beneficially Own more than 10% of the Common
Shares then outstanding, then such Person shall be deemed to be an “Acquiring Person,” (iii) if the Board of Directors
determines in good faith that a Person who would otherwise be an “Acquiring Person,” as defined pursuant to the other
provisions of this Section 1(a), has become such inadvertently, and such Person divests, as promptly as practicable (as determined
in good faith by the Board of Directors), following receipt of written notice from the Company of such event, of Beneficial Ownership
of a sufficient number of Common Shares so that such Person would no longer be an Acquiring Person, as defined pursuant to the
other provisions of this Section 1(a), then such

 

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Person shall not be deemed to be an “Acquiring Person”
for any purposes of this Agreement; provided, however, that if such Person shall again become the Beneficial Owner of 10% or more
of the Common Shares then outstanding, such Person shall be deemed an “Acquiring Person,” subject to the exceptions
set forth in this Section 1(a), (iv) if, as of January 3, 2014, any Person is the Beneficial Owner of nine percent (9%) or more
of the Common Shares then outstanding, but no greater than nineteen and ninety-nine one hundredths percent (19.99%) of the Common
Shares then outstanding, such Person shall not be or become an “Acquiring Person,” as defined pursuant to the other
provisions of this paragraph (a), provided that such Person is not (and does not acquire Beneficial Ownership of additional Common
Shares such that it becomes) the Beneficial Owner of a percentage of the Common Shares outstanding that is greater (by more than
one percent (1%) of the Common Shares then outstanding) than (x) the percentage of the Common Shares outstanding as to which such
Person had beneficial ownership on January 3, 2014 or (y) such lesser percentage as to which such Person has beneficial ownership
following any transfer of the Company’s securities by such Person after January 3, 2014 (the lower of the percentages described
by clauses (x) and (y), the “Applicable Percentage”); provided, however, that this subsection (iv) shall pertain, as
to any such Person, only until the first time, following January 3, 2014, as such Person has beneficial ownership of less than
nine percent (9%) of the Common Shares then outstanding; provided, further that no Person described in this clause (iv) shall become
an “Acquiring Person” solely as the result of an acquisition of Common Shares by the Company which, by reducing the
number of Common Shares issued and outstanding, increases the proportionate number of Common Shares beneficially owned by such
Person to greater than such Person’s Applicable Percentage then outstanding; provided, further, that if such Person shall
become the Beneficial Owner of a percentage of the Common Shares outstanding that is greater than such Person’s Applicable
Percentage by reason of share purchases by the Company and shall, following written notice from, or public disclosure by the Company
of such share purchases by the Company, become the Beneficial Owner of any additional Common Shares without the prior consent of
the Company, then such person shall be deemed to be an “Acquiring Person,” or (v) who or which otherwise would be an
Acquiring Person as of January 3, 2014 solely as a result of giving effect to Section 2 of this Amendment; provided, however, that
such Person shall become an Acquiring Person if, following the Close of Business on January 3, 2014, such Person, together with
all Affiliates and Associates of such Person, acquires Beneficial Ownership (after giving effect to Section 2 of this Amendment)
of additional shares of Common Shares representing one percent (1%) or more of the Common Shares, (C) FMR LLC (referred to collectively
with its Affiliates and Associates as “FMR”) shall not become an Acquiring Person, unless and until FMR shall acquire
Beneficial Ownership of additional Common Shares such that it becomes the Beneficial Owner of a percentage of the Common Shares
outstanding that is greater (by more than one percent (1%) of the Common Shares then outstanding) than FMR’s Applicable Percentage;
provided, however, that this clause (C) shall pertain only until the first time, following January 3, 2014, as FMR has beneficial
ownership of less than nine percent (9%) of the Common Shares then outstanding; provided, further that FMR shall not become an
“Acquiring Person” solely as the result of an acquisition of Common Shares by the Company which, by reducing the number
of Common Shares issued and outstanding, increases the proportionate number of Common Shares beneficially owned by FMR to greater
than FMR’s Applicable Percentage of the Common Shares then outstanding; provided, further, that if FMR

 

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shall become the Beneficial Owner of a percentage of the Common
Shares then outstanding that is greater than FMR’s Applicable Percentage by reason of share purchases by the Company and
shall, following written notice from, or public disclosure by the Company of such share purchases by the Company, become the Beneficial
Owner of any additional Common Shares without the prior consent of the Company, then FMR shall be deemed to be an “Acquiring
Person,” and (D) none of EVEREST TOPCO LLC nor any of its Affiliates or Associates (referred to collectively as “Everest”)
shall become an “Acquiring Person,” nor shall any provision of this Agreement become effective, in each case by virtue
of (i) the authorization, execution or delivery of, or their entry into, the Membership Interest Purchase Agreement, to be dated
as of February 13, 2014 by and among the Company, EVEREST HOLDINGS LLC and EVEREST TOPCO LLC (as it may be amended or supplemented
from time to time, the “Purchase Agreement”), (ii) their acquisition, or their right to acquire, Beneficial Ownership
of Common Shares pursuant to the Purchase Agreement or (iii) the announcement or consummation of the transactions contemplated
by the Purchase Agreement in accordance with and pursuant to the terms and conditions thereof, unless and until Everest shall acquire
Beneficial Ownership of additional Common Shares such that it becomes the Beneficial Owner of a percentage of the Common Shares
outstanding (such percentage, the “Everest Applicable Percentage”) that is greater (by more than one percent (1%) of
the Common Shares then outstanding) than (x) the percentage of the Common Shares outstanding as to which Everest shall have Beneficial
Ownership as of immediately after the consummation of the transactions contemplated by the Purchase Agreement, including the Issuer
Tender Offer (as defined therein) (the date of such consummation, the “Everest Closing Date”) or (y) such lesser percentage
as to which Everest has Beneficial Ownership following any transfer of the Company’s securities by Everest after the Everest
Closing Date; provided, however, that Everest shall not become an “Acquiring Person” solely as the result of an acquisition
of Common Shares by the Company which, by reducing the number of Common Shares issued and outstanding, increases the proportionate
number of Common Shares beneficially owned by Everest to greater than the Everest Applicable Percentage of the Common Shares then
outstanding; provided, further, that if Everest shall become the Beneficial Owner of a percentage of the Common Shares then outstanding
that is greater than the Everest Applicable Percentage by reason of share purchases by the Company and shall, following written
notice from the Company, acquire Beneficial Ownership of any additional Common Shares without the prior consent of the Company
(other than, for the avoidance of doubt, as the result of an acquisition of Common Shares by the Company), then Everest shall be
deemed to be an “Acquiring Person”; provided, further, however, that this clause (D) shall pertain only until the first
time, following the Everest Closing Date, as Everest has Beneficial Ownership of less than nine percent (9%) of the Common Shares
then outstanding.

 

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2.             Amendment
of Section 1(n).  Section 1(n) of the Rights Agreement is amended to add the following at the end of such
section:

 

“Notwithstanding anything in this Agreement to the contrary,
a Shares Acquisition Date shall not occur or be deemed to have occurred as a result of the approval, execution, delivery or performance
of the Purchase Agreement or the consummation of the transactions contemplated by the Purchase Agreement, or the entry into this
Amendment, or the announcement of any of the foregoing.”

 

3.             New
Section 35. New Section 35 is added to the end of the Rights Agreement to read in its entirety as follows:

 

Section 35. Purchase Agreement. Notwithstanding any other provision
of this Agreement, none of the execution, delivery or performance of the Purchase Agreement or the consummation of the transactions
contemplated thereby, or the entry into this Amendment, or the announcement of any of the foregoing, shall result in a Distribution
Date or a Shares Acquisition Date or in any way permit any Rights to be exercised for any capital stock, cash, property or other
consideration or exchanged pursuant to Section 24, nor will such execution, delivery and performance of the Purchase Agreement
or the consummation of the transactions contemplated thereby result in any separation of the Rights from the underlying Common
Shares or require or permit the Rights to be evidenced by, or to be transferable pursuant to, Right Certificates separate from
certificates for the Common Shares or the Company, nor result in any adjustment pursuant to this Agreement, nor entitle or permit
the holders of the Rights to exercise the Rights or otherwise increase the rights of, or grant any rights to, the holders of the
Rights or any other Person under this Agreement, including giving the holders of the Rights the right to acquire any capital stock,
cash or other property of any party to the Purchase Agreement or any Affiliate of EVEREST TOPCO LLC.

 

4.             Amendment
to Exhibit C (Summary of Rights).  Exhibit C to the Rights Agreement is hereby deleted and replaced in its entirety with
the revised Summary of Rights attached hereto as Exhibit 1.

 

5.             Termination
of Amendment. Notwithstanding anything in this Amendment to the contrary, in the event that, prior to the Closing Date
(as defined in the Purchase Agreement), the Purchase Agreement is terminated in accordance with its terms, this Amendment shall
terminate and be of no further force or effect. The Company shall promptly notify the Rights Agent if this Amendment terminates
pursuant to this Section 5.

 

6.             Agreement
as Amended.  The term “Agreement” as used in the Rights Agreement shall be deemed to refer to the Rights
Agreement as amended by the First Amendment and by this Amendment. Except as set forth in the First Amendment and in this Amendment,
the Rights Agreement shall remain in full force and effect and otherwise shall be unaffected hereby. Any

 

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modification to the provisions of the Rights Agreement pursuant
to the Stock Dividend shall be of no further force or effect.

 

7.             Severability.
If any term, provision or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid,
void or unenforceable, the remainder of the terms, provisions or restriction of this Amendment shall remain in full force and effect
and shall in no way be affected, impaired or invalidated.

 

8.             Governing
Law. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall
be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely
within such State.

 

9.             Counterparts.
This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and the same instrument. A signature to this Amendment
transmitted electronically shall have the same authority, effect and enforceability as an original signature.

 

10.         Descriptive
Headings. Descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not control
or affect the meaning or construction of any of the provisions hereof.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, this Amendment is executed
as of the date first written above.

 

	Attest:	 	Jos. A. Bank Clothiers, Inc.
	 	 	 	 	 
	By:	/s/ Charles D. Frazer	 	 	By:	/s/ David E. Ullman	 
	Name:	 Charles D. Frazer		Name: 	 David E. Ullman
	Title:   Senior Vice President, General Counsel and Secretary	 	Title:	Executive Vice President-Chief Financial Officer and Principal Financial and Accounting Officer

 

	Attest:	Continental Stock Transfer & Trust
	 	Company
	 	 
	By:	/s/ Jeanne Schaffer	 	By:	/s/ Mark Zimkind	 
	Name: 	 Jeanne Schaffer	Name:	 Mark Zimkind
	Title:	Vice President Shareholder Services	Title:	Vice President and Director of Shareholder Services

 

    	 

    	 

    

  

Exhibit 1

 

Amended Summary of Rights

 

JOS. A. BANK CLOTHIERS, INC.

 

SUMMARY OF RIGHTS TO PURCHASE

PREFERRED SHARES

 

On September 5, 2007, the Board of Directors
of JOS. A. BANK CLOTHIERS, INC. (the “Company”) declared a dividend of one preferred share purchase right (a
“Right”) for each outstanding share of common stock, par value $0.01 per share (the “Common Shares”), of
the Company.  The dividend is effective as of September 20, 2007 (the “Record Date”) with respect to the stockholders
of record on that date.  The Rights will also attach to new Common Shares issued after the Record Date.  Each Right entitles
the registered holder to purchase from the Company one one-hundredth of a share of Series A Junior Participating Preferred
Stock, par value $1.00 per share (the “Preferred Shares”), of the Company at a price of $200.00 per one one-hundredth
of a Preferred Share (the “Purchase Price”), subject to adjustment.  Each Preferred Share is designed to be the
economic equivalent of 100 Common Shares.  The description and terms of the Rights are set forth in a Rights Agreement dated
as of September 6, 2007 (the “Rights Agreement”), between the Company and Continental Stock Transfer & Trust Company
(the “Rights Agent”).

 

On January 3, 2014 (the “First Amendment
Date”), the Rights Agreement was modified, pursuant to Amendment No. 1 to the Rights Agreement (“Amendment No. 1”),
to: (i) decrease the beneficial ownership threshold from 20% to 10% by which any person or entity (together with all affiliates
and associates of such person or entity) becomes an Acquiring Person (defined below) as contemplated by the Rights Agreement (subject
to certain exceptions as set forth therein); (ii) include provisions in respect of certain derivative or synthetic arrangements
having characteristics of a long position in the Common Shares in the definition of securities which a person or entity would be
deemed to beneficially own; (iii) increase the Purchase Price to $250; and (iv) allow the Company’s Board of Directors to
redeem the Rights for any reason at any time prior to the close of business on Distribution Date (as defined below).

 

On February 13, 2014, the Company (the “Second
Amendment Date”), the Rights Agreement was modified, pursuant to Amendment No. 2 to the Rights Agreement (“Amendment
No. 2”). Amendment No. 2 provides that none of Everest Topco LLC or any of its associates or affiliates shall be deemed an
Acquiring Person, and that a Shares Acquisition Date shall not be deemed to occur, as a result of the execution, delivery or performance
of the Membership Interest Purchase Agreement, dated as of February 13, 2014 by and among the Company, Everest Topco LLC and Everest
Holdings LLC (as it may be amended from time to time, the “Purchase Agreement”) or the consummation of the transactions
contemplated thereby. Amendment No. 2 also amends the Rights Agreement with respect to FMR LLC and any other person that beneficially
owned between 10% and 20% of the Common Shares outstanding on January 3, 2014 to clarify the scope of the definition of “Acquiring
Person” as it applies to such persons in the event that the Company purchases Common Shares, whether through an issuer tender
offer or otherwise.

 

DETACHMENT AND TRANSFER OF RIGHTS

 

Initially, the Rights will be evidenced by the
stock certificates representing Common Shares then outstanding, and no separate Right Certificates will be distributed.  Until
the earlier to occur of (i) 10 days following a public announcement that a person or group of affiliated or associated persons,
has become an “Acquiring Person” (as such term is defined in the Rights Agreement) or (ii) 10 business days (or such
later date as the Board may determine) following the commencement of, or announcement of an intention to make, a tender offer or
exchange offer which would result in the beneficial ownership by an Acquiring Person of 10% or more of the outstanding Common Shares
(the earlier of such dates being called the “Distribution Date”), the Rights will be evidenced, with

 

    	 

    	 

    

 

respect to any of the Common Share certificates outstanding as of
the Record Date, by such Common Share certificate. 

 

Generally, under the Rights Agreement, an “Acquiring
Person” will not be deemed to include (A) the Company, (B) a subsidiary of the Company, (C) any employee benefit or compensation
plan of the Company or any subsidiary of the Company, or (D) any entity holding Common Shares for or pursuant to the terms of any
such employee benefit or compensation plan of the Company or any subsidiary of the Company. In addition, except in certain circumstances
as set forth in the Rights Agreement, (i) no person will become an Acquiring Person as the result of an acquisition of Common Shares
by the Company which, by reducing the number of Common Shares issued and outstanding, increases the percentage of Common Shares
beneficially owned by such person to 10% or more of the Common Shares then outstanding, (ii) no person will become an Acquiring
Person as the result of the acquisition of Common Shares directly from the Company; unless, in the case of either subsection (i)
and (ii), such person thereafter acquires additional Common Shares without the Company’s prior consent, (iii) no person will
become an Acquiring Person if the Board determines in good faith that such person who would otherwise be an Acquiring Person, became
an Acquiring Person inadvertently and such person divests enough shares to no longer be an Acquiring Person; provided that, such
person will be deemed to be an Acquiring Person if he or she subsequently increases the percentage of Common Shares beneficially
owned to 10% or more, subject to the exceptions described herein, (iv) FMR LLC and its affiliates and associates (“FMR”)
shall not become an Acquiring Person unless and until FMR shall acquire beneficial ownership of additional Common Shares outstanding
that is greater (by more than one percent of the Common Shares then outstanding) than the Applicable Percentage (as defined below)
of FMR, (v) no person who beneficially owned 9% or more, but no greater than 19.99% of the Common Shares issued and outstanding
as of the First Amendment Date shall be deemed an Acquiring Person so long as such person is not (and does not acquire beneficial
ownership of additional Common Shares such that it becomes) the beneficial owner of a percentage of Common Shares outstanding that
is greater (by more than one percent of the Common Shares then outstanding) than (1) the percentage of Common Shares outstanding
as to which such person had beneficial ownership on the First Amendment Date or (2) such lesser percentage as to which such person
has beneficial ownership following any transfer of the Company’s securities by such person after the First Amendment Date
(the lower of the percentages described in clauses (1) and (2), the “Applicable Percentage”); provided further that
subsections (iv) and (v) shall apply to such person only until the first time, following the First Amendment Date, as such person
beneficially owns less than 9% of the Common Shares then issued and outstanding; provided, further that no person described in
subsections (iv) or (v) shall become an Acquiring Person solely as the result of an acquisition of Common Shares by the Company
which, by reducing the number of Common Shares issued and outstanding, increases the proportionate number of Common Shares beneficially
owned by such person to greater than such person’s Applicable Percentage of the Common Shares then outstanding; provided,
further, that if such person described in subsections (iv) or (v) shall become the beneficial owner of a percentage of the Common
Shares then outstanding that is greater than such person’s Applicable Percentage by reason of share purchases by the Company
and shall, following written notice from, or public disclosure by the Company of such share purchases by the Company, become the
beneficial owner of any additional Common Shares without the prior consent of the Company, then such person shall be deemed to
be an Acquiring Person; (vi) no person will become an Acquiring Person who or which otherwise would be an Acquiring Person as of
the First Amendment Date solely as a result of giving effect to the amendment in the definition of securities which a person or
entity would be deemed to beneficially own in respect of certain derivative or synthetic arrangements having characteristics of
a long position in the Common Shares pursuant to Amendment No. 1; provided that such person shall become an Acquiring Person if,
following the close of business on the First Amendment Date, such person, together with all affiliates and associates of such Person,
acquires beneficial ownership (after giving to the amendment to the definition of securities which a person or entity would be
deemed to beneficially own pursuant to Amendment No. 1) of additional Common Shares representing 1% or more of the Common Shares;
and (vii) none of EVEREST TOPCO LLC nor any of its affiliates or associates (referred to collectively as “Everest”)
shall become an “Acquiring Person,” nor shall any provision of the Rights Agreement become effective, in each case
by virtue of (i) the authorization, execution or delivery of, or their entry into, the Membership Interest Purchase Agreement,
dated as of February 13, 2014 by and among the Company, EVEREST HOLDINGS LLC and EVEREST TOPCO LLC (as it may be amended or supplemented
from time to time, the “Purchase Agreement”), (ii) their acquisition, or their right to acquire, beneficial ownership
of Common Shares pursuant to the Purchase Agreement or (iii) the announcement or consummation of the transactions contemplated
by the Purchase Agreement in accordance with and pursuant to the terms and conditions thereof, unless and until Everest shall acquire
beneficial ownership of additional Common Shares such that it becomes the beneficial owner of a percentage of the Common Shares
outstanding (such

 

    	 

    	 

    

  

percentage, the “Everest Applicable Percentage”) that
is greater (by more than one percent (1%) of the Common Shares then outstanding) than (x) the percentage of the Common Shares outstanding
as to which Everest shall have beneficial ownership as of immediately after the consummation of the transactions contemplated by
the Purchase Agreement, including the Issuer Tender Offer (as defined therein) (the date of such consummation, the “Everest
Closing Date”) or (y) such lesser percentage as to which Everest has beneficial ownership following any transfer of the Company’s
securities by Everest after the Everest Closing Date; provided, however, that Everest shall not become an “Acquiring Person”
solely as the result of an acquisition of Common Shares by the Company which, by reducing the number of Common Shares issued and
outstanding, increases the proportionate number of Common Shares beneficially owned by Everest to greater than the Everest Applicable
Percentage of the Common Shares then outstanding; provided, further, that if Everest shall become the Beneficial Owner of a percentage
of the Common Shares then outstanding that is greater than the Everest Applicable Percentage by reason of share purchases by the
Company and shall, following written notice from the Company, acquire Beneficial Ownership of any additional Common Shares without
the prior consent of the Company (other than, for the avoidance of doubt, as the result of an acquisition of Common Shares by the
Company), then Everest shall be deemed to be an “Acquiring Person”; provided, further, however, that this clause (D)
shall pertain only until the first time, following the Everest Closing Date, as Everest has Beneficial Ownership of less than nine
percent (9%) of the Common Shares then outstanding.

 

In general, pursuant to the Rights Agreement,
a person is deemed to beneficially own Common Shares (i) that such person or its affiliates or associates would be deemed to beneficially
own within the meaning of Rule 13d-3 of the General Rules and Regulations under the Securities Exchange Act of 1934, (ii) that
such person or its affiliates or associates have the right to acquire or vote, (iii) that are beneficially owned, directly or indirectly,
by any other person with which such person or any of such person’s affiliates or associates has any agreement, arrangement
or understanding for the purpose of acquiring, holding, voting or disposing of, and (iv) at are the subject of (or synthetically
owned pursuant to) a derivative transaction entered into by such person or any of such person’s affiliates or associates,
including, for these purposes, any derivative security acquired by such person or any of such person’s affiliates or associates,
that gives such person or any of such person’s affiliates or associates the economic equivalent of ownership of.

 

The Rights Agreement provides that, until the
Distribution Date (or earlier redemption or expiration of the Rights), the Rights will be transferable with and only with the Common
Shares.  Until the Distribution Date (or earlier redemption or expiration of the Rights), new Common Share certificates issued
after the Record Date upon transfer or new issuance of Common Shares will contain a notation incorporating the Rights Agreement
by reference.  Until the Distribution Date (or earlier redemption or expiration of the Rights) the surrender or transfer of
any certificates for Common Shares outstanding as of the Record Date, even without such notation or a copy of this Summary of Rights
being attached thereto, will also constitute the transfer of the Rights associated with the Common Shares represented by such certificate. 
As soon as practicable following the Distribution Date, separate certificates evidencing the Rights (“Right Certificates”)
will be mailed to holders of record of the Common Shares as of the close of business on the Distribution Date and such separate
Right Certificates alone will evidence the Rights.

 

EXERCISABILITY OF RIGHTS

 

The Rights are not exercisable until the Distribution
Date.  The Rights will expire on September 20, 2017 (the “Final Expiration Date”), unless the Final Expiration
Date is extended or unless the Rights are earlier redeemed or exchanged by the Company, in each case as described below. 
Until a Right is exercised, the holder thereof, as such, will have no rights as a stockholder of the Company, including, without
limitation, the right to vote or to receive dividends.

 

The Purchase Price payable, and the number of
Preferred Shares or other securities or property issuable or payable, upon exercise of the Rights are subject to adjustment from
time to time to prevent dilution.  The number of outstanding Rights and the number of one one-hundredths of a Preferred Share
issuable upon exercise of each Right are also subject to adjustment in the event of a stock split of the Common Shares or a stock
dividend on the Common Shares payable in Common Shares, or subdivisions, consolidations or combinations of the Common Shares occurring,
in any such case, prior to the Distribution Date.  With certain exceptions, no adjustment in the Purchase Price will be required
until cumulative adjustments require an adjustment of at least 1% in such Purchase

 

    	 

    	 

    

 

Price.  No fractional Preferred Shares will be issued (other
than fractions which are integral multiples of one one-hundredth of a Preferred Share, which may, at the election of the Company,
be evidenced by depositary receipts) and in lieu thereof, an adjustment in cash will be made based on the market price of the Preferred
Shares on the last trading day prior to the date of exercise.

 

TERMS OF PREFERRED SHARES

 

Preferred Shares purchasable upon exercise of
the Rights will not be redeemable.  Each Preferred Share will be entitled to a minimum preferential quarterly dividend payment
of $1.00 per share, when, as and if declared by the Board of Directors, but will be entitled to an aggregate dividend of 100 times
any dividend declared per Common Share.  In the event of liquidation, the holders of the Preferred Shares will be entitled
to a minimum preferential liquidation payment of $100.00 per share but will be entitled to an aggregate payment of 100 times the
payment made per Common Share.  Each Preferred Share will have 100 votes, voting together with the Common Shares.  Finally,
in the event of any merger, consolidation or other transaction in which Common Shares are exchanged, each Preferred Share will
be entitled to receive 100 times the amount received per Common Share.  These rights are protected by customary anti-dilution
provisions.  Because of the nature of the Preferred Shares’ dividend, liquidation and voting rights, the value of the
one one-hundredth interest in a Preferred Share purchasable upon exercise of each Right should approximate the value of one Common
Share.  The Preferred Shares would rank junior to any other series of the Company’s preferred stock.

 

TRIGGER OF FLIP-IN AND FLIP-OVER RIGHTS

 

In the event that any person or group of affiliated
or associated persons becomes an Acquiring Person, each holder of a Right, other than Rights beneficially owned by the Acquiring
Person or any affiliate or associate thereof (which will thereafter be void), will thereafter have the right to receive upon exercise
that number of Common Shares having a market value of two times the Purchase Price.

 

In the event that the Company is acquired in
a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold to an Acquiring
Person, its affiliates or associates or certain other persons in which such persons have an interest, proper provision will be
made so that each such holder of a Right will thereafter have the right to receive, upon the exercise thereof at the then current
Purchase Price, that number of shares of common stock of the acquiring company which at the time of such transaction will have
a market value of two times the Purchase Price.

 

REDEMPTION AND EXCHANGE OF RIGHTS

 

At any time prior to the earlier of the close
of business on (i) the Distribution Date, or (ii) the Final Expiration Date, the Board of Directors of the Company may
redeem all, but not less than all, of the Rights at a price of $0.01 per Right (the “Redemption Price”).  In general,
the redemption of the Rights may be made effective at such time, on such basis and subject to such conditions as the Board of Directors
in its sole discretion may establish.  Immediately upon any redemption of the Rights, the right to exercise the Rights will
terminate and the only right of the holders of Rights will be to receive the Redemption Price.

 

At any time after any Person becomes an Acquiring
Person and prior to the acquisition by such person or group of 50% or more of the outstanding Common Shares, the Board of Directors
of the Company may exchange the Rights (other than Rights owned by such person or group which will have become void), in whole
or in part, at an exchange ratio of one Common Share, or, under circumstances set forth in the Rights Agreement, cash, property
or other securities of the Company, including fractions of a Preferred Share (or of a share of a class or series of the Company’s
preferred stock having equivalent designations and the powers, preferences and rights, and the qualifications, limitations and
restrictions), per Right (with value equal to such Common Shares).

 

AMENDMENT OF RIGHTS

 

The terms of the Rights generally may be amended
by the Board of Directors of the Company without the consent of the holders of the Rights, except that from and after such time
as the Rights become detached no such

 

    	 

    	 

    

 

amendment may adversely affect the interests of the holders of the
Rights (excluding the interest of any Acquiring Person or its affiliates or associates).

 

ADDITIONAL INFORMATION

 

A copy of the Rights Agreement has been filed
with the Securities and Exchange Commission (the “SEC”) as an Exhibit to a Current Report on Form 8-K dated September
7, 2007.  A copy of Amendment No. 1 to the Rights Agreement has been filed with the SEC as an Exhibit to a Current Report
on Form 8-K dated January 3, 2014. A copy of Amendment No. 2 to the Rights Agreement has been filed with the SEC as an Exhibit
to a Current Report on Form 8-K dated February 14, 2014. A copy of the Rights Agreement, Amendment No. 1 and Amendment No. 2 are
available from the Company by writing to: Jos. A. Bank Clothiers, Inc., 500 Hanover Pike, Hampstead, MD 21074, Attention: 
General Counsel.  This summary description of the Rights is not intended to be complete and is qualified in its entirety by
reference to the Rights Agreement, which is hereby incorporated herein by reference.Exhibit 10.1

 

EXECUTION COPY

 

STANDSTILL AND STOCKHOLDER AGREEMENT

 

This STANDSTILL AND STOCKHOLDER AGREEMENT, dated
as of February 13, 2014 (this “Agreement”), is by and between Jos. A. Bank Clothiers, Inc., a Delaware corporation
(the “Company”), and Everest Topco LLC, a Delaware limited liability company (“Everest”).

 

WHEREAS, concurrently with the execution and
delivery of this Agreement, the Company, Everest and Everest Holdings LLC are entering into a Membership Interest Purchase Agreement,
dated as of the date hereof (as it may be amended from time to time, the “Acquisition Agreement”), pursuant
to which, among other things, the Company shall acquire from Everest all of the membership interests of Everest Holdings LLC in
consideration for cash and 5,000,000 shares, subject to adjustment, of Company Common Stock (as defined below) (the “Acquisition”),
all upon the terms and subject to the conditions set forth in the Acquisition Agreement;

 

WHEREAS, following the closing of the Acquisition
under the Acquisition Agreement (the “Closing”), Everest will Beneficially Own shares of Common Stock, par value
$0.01 per share of the Company (the “Company Common Stock”);

 

WHEREAS, the parties hereto desire to enter
into this Agreement to establish certain arrangements with respect to the shares of Company Common Stock Beneficially Owned by
Everest or the Stockholders (as defined in Section 1.5(d)), as well as restrictions on certain activities by Everest and the Stockholders
in respect of the Company and certain agreements relating to the appointment of directors, and other related matters; and

 

WHEREAS, as a condition to the willingness of
each party hereto to enter into and perform its obligations under the Acquisition Agreement, each party hereto has requested that
the other party hereto enter into this Agreement, and each party hereto has agreed to do so in order to induce the other party
hereto to enter into, and in consideration of it entering into, the Acquisition Agreement.

 

NOW, THEREFORE, in consideration of the foregoing,
including the willingness of the parties hereto to enter into the Acquisition Agreement, and of the representations, warranties,
covenants and agreements herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

    	 

    	 

    

  

ARTICLE I

Standstill Agreement

 

Section 1.1.          Everest
and each Stockholder agrees that during the Standstill Period (as defined in Section 1.5(c)), so long as the Company and the Board
of Directors of the Company (the “Board”) are in material compliance with this Agreement, it and its and their
respective controlled Affiliates, directors, officers and employees (collectively, “Stockholder Entities”) shall
not, in any manner, directly or indirectly (unless requested in writing by the Board):

 

(a)          participate
in, effect or seek (including entering into any discussions, negotiations, agreements or understandings with any Person (as defined
below) whether publicly or otherwise) to effect, or knowingly encourage any individual, corporation, partnership, limited liability
company, association, trust or any other entity, organization or person, including a government or political subdivision or any
agency or instrumentality thereof (any of the foregoing, a “Person”) to participate in, effect or so seek (whether
publicly or otherwise) to effect:

 

(i)          other
than pursuant to the Acquisition (with respect to Everest) or a distribution or other transfer from Everest in accordance with
Section 1.4 (with respect to a Stockholder), the acquisition of, or obtaining any economic interest in (including Beneficial Ownership),
or any right to direct the voting or disposition of, or any other right with respect to, by any Person (including the Stockholder
Entities), any securities of the Company, bank debt or obligations for borrowed money of the Company or any of its Subsidiaries
(or any rights, options or other securities convertible into or exercisable or exchangeable for such securities, bank debt or obligations
for borrowed money measured by the price or value of any securities of the Company or any of its Affiliates, including any swaps
or other derivative arrangements (“Derivative Securities”)), in each case, whether or not any of the foregoing
may be acquired or obtained immediately or only after the passage of time or upon the satisfaction of one or more conditions (whether
or not within the control of such party) pursuant to any agreement, arrangement or understanding (whether or not in writing) or
otherwise and whether or not any of the foregoing would give rise to Beneficial Ownership, and, in each case, whether or not any
of the foregoing is acquired or obtained by means of borrowing of securities, operation of any Derivative Security or otherwise,
or make any public announcement with respect to, or submit a proposal or offer with respect to the foregoing;

 

(ii)         any
tender offer, exchange offer, merger, acquisition or other business combination involving the Company or any of its Subsidiaries,
or any similar extraordinary transaction involving the purchase of all or substantially all of the assets of the Company, or make
any public announcement with respect to, or submit a proposal or offer with respect to the foregoing;

 

(iii)        any
recapitalization, restructuring, liquidation or dissolution with respect to the Company or any of its Subsidiaries or any similar
extraordinary transaction involving a dividend or distribution of assets of the Company; or

 

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(iv)        any
solicitation (or participation in any solicitation) of proxies or consents to vote, or recommendation to other holders how to vote,
any voting securities of the Company with respect to the election of directors or any other proposal to be considered at any annual
or special meeting of stockholders of the Company or for the call of a special meeting of stockholders, or present, conduct, participate
in or engage in any proposal or other type of referendum (binding or non-binding), including for the nominations for directors
(other than as provided in Section 2.1), for consideration at any annual meeting or special meeting of stockholders or the call
of a special meeting of stockholders;

 

(b)          form,
join or participate in a partnership, limited partnership, syndicate or other group, including a “group” (as such term
is used in Section 13(d)(3) of the Exchange Act), with respect to the Company Common Stock, or deposit any Company Common Stock
in a voting trust or subject any Company Common Stock to any voting agreement, other than in each case solely with its Affiliates
or Associates (each as defined in Section 1.5(a)) (which Affiliates and Associates Everest or such Stockholder, as applicable,
shall cause to be subject to the same restrictions set forth herein as if they were parties hereto) with respect to the Company
Common Stock now or hereafter owned by Everest or a Stockholder or their respective Affiliates or pursuant to this Agreement;

 

(c)          otherwise
act, alone or in concert with any other Person, to seek to control or influence the management, Board or policies of the Company,
or initiate or take any action to obtain additional representation on the Board (other than as provided in Article II hereof);

 

(d)          take
any action which would, or would reasonably be expected to, force the Company to make a public announcement regarding any of the
types of matters set forth in Sections 1.1(a)-(c) above;

 

(e)          without
prejudice to Section 1.4, sell or dispose of, in a single transaction or series of transactions, any Company Common Stock to any
other Person or “group” if any Stockholder Entity knows, or has reason to know, that such Person or “group”
holds or, after giving effect to any such sale or disposition, would Beneficially Own 7.5% or more of the Company Common Stock,
unless such sale or disposition has been approved by a majority of the members of the Board who are not Associates or Affiliates
of Everest or a Stockholder and who have not been designated or nominated to serve on the Board by Everest or a Stockholder or
any of its respective Affiliates, Associates or any persons with whom Everest or a Stockholder has formed a “group”;

 

(f)          participate
in any sale process regarding the Company unless (i) such process is initiated by the Board and (ii) such participation is on the
same terms as those set by the Board and its advisors for other bidders involved in such sale process;

 

(g)          (i)
engage in transactions with respect to any debt of the Company or any of its Subsidiaries (whether such transaction(s) is/are in
the primary or secondary market or otherwise), (ii) propose, commit on or to, participate in and/or make a loan or other debt financing
to the Company or any of its Subsidiaries, (iii) propose, commit on or to, participate in

 

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and/or provide debt financing to a prospective
buyer regarding a transaction involving the Company or any of its Subsidiaries, (iv) finance a third party’s effort to make
a loan or other debt financing to the Company or any of its Subsidiaries or (v) take a security interest in any assets of the Company
or any of its Subsidiaries as collateral security for any loan or other debt; the term “debt” as used in this Section
1.1(g) shall include, without limitation, institutional debt (bank or otherwise), commercial paper, notes, debentures, bonds, other
evidence of indebtedness, and debt securities and debt instruments, whether or not convertible into equity securities of the Company
or any of its Subsidiaries;

 

(h)          enter
into any discussions or arrangements with any third party with respect to any of the foregoing; or

 

(i)       
   seek or request permission to do (including through litigation) any of the foregoing, request to amend or
waive, or seek a release from, any provision of this Article I (including this Section 1.1(i)), make or seek permission to
make disclosure publicly (in SEC filings or otherwise) of any intention, plan or arrangement that is inconsistent with the
foregoing, or otherwise take, or solicit, cause or knowingly encourage any third party to take, any action inconsistent with
any of the foregoing.

 

Section 1.2.          Notwithstanding
the foregoing provisions of Article I, the terms of this Article I shall not (i) apply in connection with the exercise by Everest
or any of its Affiliates of any rights or remedies contemplated by this Agreement, the Acquisition Agreement, the Ancillary Agreements
(as defined in the Acquisition Agreement) or any of the other agreements or instruments executed in connection with any of the
foregoing (as the same may be modified or amended from time to time in accordance with their terms), or (ii) limit, prevent, restrict
or impair the ability of Everest or a Stockholder or any of their respective Affiliates, directors, officers and employees (x) to
acquire Beneficial Ownership of any securities, rights or options to acquire any securities, or any assets or businesses, of the
Company or any of its Subsidiaries, pursuant to (1) a dividend or distribution paid or made by the Company on the outstanding Company
Common Stock or (2) a split or subdivision of the outstanding Company Common Stock, (y) to vote its voting securities (directly
or by proxy grant) at any annual or special meeting of stockholders or otherwise or (z) to acquire or obtain any economic
interest in, or take any actions (including any of the actions that would not be permitted by Article I) with respect to, any non-convertible
debt of the Company or any of its Subsidiaries (or any such economic interest), so long as Everest and its Affiliated Stockholders,
together with their respective Affiliates, do not acquire an economic interest (including Beneficial Interest) in any such non-convertible
debt representing more than 20% of the outstanding principal amount of any tranche of non-convertible debt of the Company and its
Subsidiaries.

 

Section 1.3.          Notwithstanding
anything to the contrary in this Agreement, it is understood and agreed that this Article I shall not apply to and shall not prohibit,
limit or restrict in any manner any actions by any Everest Designee (as defined in Section 2.1) acting in such Everest Designee’s
capacity as a director of the Company.

 

Section 1.4.          Each
of Everest and each Stockholder agrees that it will not, and it shall cause its controlled Affiliates not to, in any manner, directly
or indirectly, sell or dispose of, in a

 

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single transaction or series of transactions,
any of the Company Common Stock received by Everest pursuant to the Acquisition Agreement (such Company Common Stock, the “Equity
Consideration”), including by tendering any shares of Company Common Stock into any issuer tender offer by the Company
made pursuant to Rule 13e-4 of the Exchange Act; provided that (a) from and after the date that is six months after the
Closing, the foregoing restrictions shall not apply to 25% of the Equity Consideration, (b) from and after the date that is one
year after the Closing, the foregoing restrictions shall not apply to 50% of the Equity Consideration, and (c) from and after the
date that is 18 months after the Closing, the foregoing restrictions shall not apply to any of the Equity Consideration; provided
further that, notwithstanding the foregoing or Section 1.1(e), Everest and any Stockholder shall be entitled to distribute
Company Common Stock pro rata in accordance with its organizational documents in existence as of the date hereof to any Person
set forth on Exhibit A (each, an “Approved Transferee”) so long as (1) prior to such distribution or
transfer, such Approved Transferee has duly executed and delivered to the Company a Joinder Agreement in the form set forth on
Exhibit B, (2) such distribution or transfer is in compliance with or pursuant to an exemption from registration available
under the Securities Act of 1933, as amended (the “Securities Act”), and any applicable state securities laws
and such transaction complies with the rules promulgated under the Securities Act and under such state securities laws and (3)
with respect to Approved Transferees that are not Affiliates of the Seller, no such Approved Transferee, taken together with any
of its Affiliates that are Approved Transferees, shall be entitled to receive in such pro rata distribution shares of Company Common
Stock equal to more than 5% of the Equity Consideration; provided further that, nothing in this Agreement shall prohibit,
limit, prevent, restrict or impair the ability of Everest or a Stockholder or any of their respective Affiliates from selling or
disposing of (including by tendering or exchanging) any Company Common Stock in any tender offer, exchange offer, merger, acquisition
or other business combination transaction involving the Company or any of its Subsidiaries or any transaction involving a Change
of Control of the Company or its Subsidiaries.

 

Section 1.5.          As
used herein:

 

(a)          “Affiliate”
or “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the Exchange Act.

 

(b)          “Beneficial
Ownership” by a Person of a security means ownership by such Person who, directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise, has or shares (i) voting power which includes the power to vote, or to direct
the voting of, such security; and/or (ii) investment power which includes the power to dispose, or to direct the disposition, of
such security; and shall otherwise be interpreted in accordance with the term “beneficial ownership” as defined in
Rule 13d-3 of the Exchange Act. For purposes of this Agreement, a Person shall be deemed to Beneficially Own any securities Beneficially
Owned by its Affiliates (including as Affiliates for this purpose its officers and directors) or any “group” (within
the meaning of Section 13(d)(3) of the Exchange Act) of which such Person or any such Affiliate is or becomes a member. The terms
“Beneficially Own”, “Beneficially Owned” and “Beneficial Owner” shall have correlative meanings
to “Beneficial Ownership.”

 

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(c)          “Standstill
Period” means the period beginning on the date hereof and ending on the earlier of (i) if the Acquisition Agreement is
terminated for any reason, the effective date of such termination and (ii) the date that is 90 days after the first date after
the Closing that Everest and its Affiliates and the Approved Transferees numbered 1-6 on Exhibit A (whether or not such
Approved Transferees are Affiliates of Everest), taken together, cease to Beneficially Own in the aggregate at least 5% of the
issued and outstanding Company Common Stock.

 

(d)          “Stockholder”
means an Approved Transferee to whom Everest has distributed Company Common Stock; provided that any such Approved Transferee shall
no longer be deemed a “Stockholder” hereunder from and after the time such Approved Transferee ceases to Beneficially
Own at least 5% of the aggregate Company Common Stock distributed to such Approved Transferee by Everest.

 

ARTICLE II

Appointment of Directors

 

Section 2.1.          Appointment
of Directors.

 

(a)          From
and after the Closing, Everest shall have the right, so long as Everest and the Stockholders are in material compliance with this
Agreement and subject to the approval of such individuals by the Board and the Nominating and Governance Committee of the Board,
to designate up to two individuals for appointment to the Board (each such individual, an “Everest Designee”).
To the extent necessary to permit the designation of an Everest Designee, the size of the Board shall be increased, and any such
resulting vacancy shall be allocated to the class of directors with the longest then-remaining term permissible under the Company’s
Certificate of Incorporation and Amended and Restated Bylaws as of the date of the designation of such Everest Designee and such
Everest Designee shall be appointed to fill such vacancy. If after the Closing and prior to the date on which Everest has designated
both Everest Designees pursuant to this Section 2.1(a) the Board increases the size of the Board other than for the purpose of
appointing an Everest Designee to the Board, such vacancy shall be allocated to the class of directors with the shortest then-remaining
term permissible under the Company’s Certificate of Incorporation and Amended and Restated Bylaws. Nothing in this Section
2.1 shall require the Company, the Board or the Nominating and Governance Committee of the Board to change the class of directors
of an Everest Designee to other than the class of directors to which such Everest Designee is initially designated The parties
agree that, provided such individuals are able and willing to serve as members of the Board, the initial Everest Designees shall
be Joshua Olshansky and Neale Attenborough. Each Everest Designee shall be required to be an officer, director, employee, operating
executive or partner of Golden Gate Private Equity, Inc. or its Affiliated funds.

 

(b)          The
Company shall use its reasonable best efforts to appoint the Everest Designees to the Board in accordance with Section 2.1(a) consistent
with the Company’s Certificate of Incorporation, Amended and Restated Bylaws and corporate governance principles, which actions
may include increasing the size of the Board and allocating the resulting vacancy to the applicable class of directors in accordance
with Section 2.1(a). For the avoidance of doubt, the Company shall not reduce the size of the Board in any manner that

 

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would result in the removal of an Everest Designee
or otherwise adversely impact Everest’s designation rights under this Section 2.1. With respect to each Everest Designee
that is a director of the Company, the Company will use its reasonable best efforts to facilitate the nomination, and election
as a director at each annual meeting of stockholders at which such Everest Designee’s term as a director is expiring, including
issuing a recommendation that such Everest Designee be elected to the Board by the Company’s stockholders at each such annual
meeting by (i) the Nominating and Corporate Governance Committee of the Board and (ii) the Board, subject to their respective approval
of such individual for nomination; provided, however, that Everest shall provide prompt written notice to the Company and the Board
if at any time Everest and any Stockholders that are Affiliates of Everest, taken together, cease to Beneficially Own in the aggregate
in excess of the greater of (x) 10% of the issued and outstanding Company Common Stock and (y) the minimum percentage of issued
and outstanding Company Common Stock that must be Beneficially Owned by a stockholder of the Company to allow such stockholder
to designate two directors to the Board in accordance with the NASDAQ listing rules (including Listing Rule 5640) and related NASDAQ
guidance (the “Applicable Threshold”), and, upon the request of the Board at any time thereafter, Everest shall
promptly cause one of such Everest Designees (selected in Everest’s sole discretion) to resign effective immediately and
the number of Everest Designees that Everest has the right to designate hereunder shall be reduced to one (it being understood
that if less than two Everest Designees are members of the Board as of the date that Everest and any Stockholders that are Affiliates
of Everest, taken together, cease to Beneficially Own in the aggregate in excess of the Applicable Threshold, no such resignation
shall be required and the number of Everest Designees that Everest has the right to designate hereunder shall be reduced to one);
provided, further, that Everest shall provide prompt written notice to the Company and the Board if at any time Everest and any
Stockholders that are Affiliates of Everest, taken together, cease to Beneficially Own in the aggregate at least 5% of the issued
and outstanding Company Common Stock, and, upon the request of the Board at any time thereafter, Everest shall promptly cause any
Everest Designee to resign effective immediately and the number of Everest Designees that Everest has the right to designate hereunder
shall be reduced to zero. For the avoidance of doubt, Everest acknowledges and agrees that this Agreement does not in any way restrict
the Company’s rights with respect to (x) calling and holding any annual meeting of stockholders, including the right
of the Company to adjourn, postpone, recess or delay the date of such annual meetings consistent with applicable Law and the Board’s
fiduciary duties or (y) increasing the size of the Board.

 

(c)          Subject
to Section 2.1(b), if an Everest Designee (or any successor designee previously appointed pursuant to this Section 2.1(c)) dies,
resigns, becomes incapacitated or is no longer able to serve as a member of the Board at any time, Everest shall be entitled to
designate a replacement for such Everest Designee, subject to the approval of such individuals by the Board and the Nominating
and Governance Committee of the Board, to hold office for the remaining unexpired term of such Everest Designee (or any successor
designee previously appointed pursuant to this Section 2.1(c)). The Company shall take all actions necessary to appoint such successor
designee to the Board in accordance with this Section 2.1(c) consistent with the Company’s Certificate of Incorporation,
Amended and Restated Bylaws and corporate governance principles. Any such successor designee who becomes a member of the Board
member pursuant to this Section 2.1(c) shall be deemed to be an “Everest Designee” for all purposes under this Agreement.

 

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(d)          Each
Everest Designee shall agree to be bound by all policies, guidelines, procedures and codes of conduct generally applicable to non-employee
directors, and shall provide information with respect to such Everest Designee as would be required to be disclosed in connection
with the solicitation of proxies for the election of the Everest Designees as a director in an election contest, or would otherwise
be required in connection with such solicitation, in each case pursuant to Regulation 14A (or any successor provision) under the
Exchange Act and the rules thereunder, or would be required pursuant to the rules of any national securities exchange on which
any securities of the Company are listed or over-the-counter market on which any securities of the Company are traded. The compensation
(including equity-based compensation) and rights to indemnity of, and reimbursement of expenses incurred by, the Everest Designees
that are members of the Board will be the same as those provided to other non-employee directors generally. When evaluating a prospective
Everest Designee for membership on the Board, the Board and the Nominating and Governance Committee shall apply the same review
processes and standards as each of them, respectively, applies to other prospective non-employee directors generally.

 

(e)          The
Company acknowledges that the Everest Designees may have certain rights to indemnification, advancement of expenses and/or insurance
provided by sources other than the Company (directly or indirectly, including through insurance provided by the Company) with respect
to such Everest Designees’ association with the Company and its Subsidiaries (“Other Indemnitors”). Notwithstanding
the existence of any Other Indemnitor with respect to any Everest Designee, the Company shall be the indemnitor of first resort
(i.e., the Company’s obligations for indemnification and expense advancement to an Everest Designee are primary and any obligations
of any Other Indemnitor to advance expenses or to provide indemnification for the same expenses or liabilities incurred by an Everest
Designee are secondary) with respect to any such Everest Designees’ association with the Company and its subsidiaries. The
Company further agrees that no advancement or payment by the Other Indemnitors on behalf of any Everest Designee with respect to
any claim for which such Everest Designee has sought indemnification from the Company shall affect the foregoing, and such Other
Indemnitors shall have a right of contribution and/or be subrogated to the extent of any such advancement or payment to all of
the rights of recovery of such Everest Designee against the Company. The Other Indemnitors shall be express third party beneficiaries
of the terms of this Section 2.1(e).

 

(f)          In
the event that the Nominating and Governance Committee or the Board relies on any provision of this Section 2.1 to exclude an Everest
Designee from management’s slate of nominees (or otherwise take adverse action with respect to any such Everest Designee,
including failing to recommend the election of such Everest Designee), the Nominating and Governance Committee and the Board shall
afford Everest a reasonable opportunity to select a replacement Everest Designee for inclusion on management’s slate of nominees.

 

(g)          For
the avoidance of doubt, (a) the rights of Everest pursuant to this Section 2.1 are personal to Everest and may not be transferred,
assigned or otherwise disposed of, to any Person, by operation of law or otherwise and (b) this Section 2.1 shall be void and have
no further force and effect if the Acquisition Agreement is terminated for any reason.

 

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ARTICLE III

Representations and Warranties
of Everest

 

Everest hereby represents and warrants to the
Company as follows:

 

Section 3.1.          Organization.
Everest is a limited liability company duly organized and validly existing under the laws of the State of Delaware. Everest has
all requisite limited liability company power and authority to carry on its business as now being conducted and to own, lease and
operate its properties and assets.

 

Section 3.2.          Authority.
Everest has full limited liability company power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance by Everest of this Agreement
and each of the transactions contemplated hereby have been duly and validly authorized and no additional authorization or consent
is required in connection with the execution, delivery and performance by Everest of this Agreement or the consummation of any
of the transactions contemplated hereby.

 

Section 3.3.          Binding
Effect. This Agreement has been duly executed and delivered by Everest, and, subject to the due authorization and execution
and delivery by the Company this agreement is the legal, valid and binding obligation of Everest, in accordance with its terms,
subject to the Laws of general application relating to bankruptcy, insolvency, reorganization and the relief of debtors and rules
of law governing specific performance, injunctive relief, or other equitable remedies.

 

Section 3.4.          Distribution.
With respect to Approved Transferees that are not Affiliates of Everest, no such Approved Transferee, taken together with any of
its Affiliates that are Approved Transferees, would be entitled to receive more than 5% of any pro rata distribution made by Everest
in accordance with the organizational documents of Everest in existence as of the date hereof.

 

Section 3.5.          Consents
and Approvals. Except as may be set forth in the Acquisition Agreement and in Everest’s Disclosure Letter thereto (including
filings as may be required under applicable securities laws) and any filing required under Section 13 or 16 under the Exchange
Act, Everest is not required to obtain any authorization, waiver, consent or approval of, or make any filing or registration with,
or give any notice to, any Government Entity or to obtain any permit, authorization, consent, or approval in connection with the
execution, delivery and performance by Everest of this Agreement or any of the transactions contemplated hereby.

 

Section 3.6.          Non-Contravention.
The execution, delivery and performance by Everest of this Agreement and the consummation by Everest of the transactions contemplated
hereby, do not and will not, with or without the giving of notice, the lapse of time or both, (i) conflict with or violate any
provision of the organizational documents of Everest, (ii) assuming the receipt of all consents, approvals, waivers and authorizations
and the making of the notices and filings (x) referred to in Section 3.5 or (y) required to be received or made by the
Company, as contemplated by Section 4.4 and Section 4.5, conflict with, or result in the breach of, or

 

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constitute a default under, or result in the termination,
claim, lien, encumbrance, security interest, vesting, cancellation, modification or acceleration of any right or obligation of
Everest under, or result in a loss of any benefit to which Everest is entitled under, any Contract, Benefit Plan or other agreement
or instrument binding upon Everest or any of its Subsidiaries or to which the property of Everest or any of its Subsidiaries is
subject, (iii) assuming the receipt of all consents, approvals, waivers and authorizations and the making of notices and filings
(A) referred to in Section 3.5 or (B) required to be received or made by any of the Company or any of its Affiliates,
violate or result in a breach of or constitute a default under any law to which Everest is subject or under any authorization,
waiver, consent or approval of Everest, other than, in the case of clauses (ii) and (iii), any conflict, breach, default,
termination, claim, lien, encumbrance, security interest, vesting, cancellation, modification, acceleration or loss that would
not, individually or in the aggregate, reasonably be expected to impair or delay materially the ability of Everest to consummate
the transactions contemplated hereby.

 

Section 3.7.          Acknowledgement.
Everest understands and acknowledges that the Company is entering into the Acquisition Agreement in reliance upon its execution,
delivery and performance of this Agreement.

 

ARTICLE IV

Representations and Warranties
of the Company

 

The Company hereby represents and warrants to
Everest as follows:

 

Section 4.1.          Organization.
The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware, and
the Company, has all requisite corporate power and authority to carry on its business as now being conducted and to own, lease
and operate its properties and assets.

 

Section 4.2.          Corporate
Authorization; Validity of Agreement; Necessary Action. The Company has full corporate power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery
and performance by the Company of this Agreement and each of the transactions contemplated hereby have been duly and validly authorized
and no additional corporate or stockholder authorization or consent is required in connection with the execution, delivery and
performance by the Company of this Agreement or the consummation of any of the transactions contemplated hereby.

 

Section 4.3.          Binding
Effect. This Agreement has been duly executed and delivered by the Company, and, subject to the due authorization and execution
and delivery by Everest, this Agreement is the legal, valid and binding obligation of the Company, in accordance with its terms,
subject to the laws of general application relating to bankruptcy, insolvency, reorganization and the relief of debtors and rules
of law governing specific performance, injunctive relief, or other equitable remedies.

 

Section 4.4.          Consents
and Approvals. Except as may be set forth in the Acquisition Agreement and in the Company’s Disclosure Letter thereto
(including filings as may be required

 

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under applicable securities laws) and any filing
required under Section 13 or 16 under the Exchange Act, the Company is not required to obtain any authorization, waiver, consent
or approval of, or make any filing or registration with, or give any notice to, any Government Entity or to obtain any permit,
authorization, consent, or approval in connection with the execution, delivery and performance by the Company of this Agreement
or the consummation of any of the transactions contemplated hereby.

 

Section 4.5.          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, with or without the giving of notice, the lapse of time or both, (i) conflict with
or violate any provision of the organizational documents of the Company, (ii) assuming the receipt of all consents, approvals,
waivers and authorizations and the making of the notices and filings (x) referred to in Section 4.4 or (y) required to
be received or made by Everest, as contemplated by Section 3.5 and Section 3.6, conflict with, or result in the breach of, or constitute
a default under, or result in the termination, claim, lien, encumbrance, security interest, vesting, cancellation, modification
or acceleration of any right or obligation of the Company under, or result in a loss of any benefit to which the Company is entitled,
under, any Contract, Benefit Plan or other agreement or instrument binding upon the Company or any of its Subsidiaries or to which
the property of the Company or any of its Subsidiaries is subject, (iii) assuming the receipt of all consents, approvals,
waivers and authorizations and the making of notices and filings (A) referred to in Section 4.4 or (B) required to be
received or made by Everest or any of its respective Affiliates, violate or result in a breach of or constitute a default under
any law to which the Company is subject or under any authorization, waiver, consent or approval of the Company, other than, in
the case of clauses (ii) and (iii), any conflict, breach, default, termination, claim, lien, encumbrance, security interest,
vesting, cancellation, modification, acceleration or loss that would not, individually or in the aggregate, reasonably be expected
to impair or delay materially the ability of the Company to perform its obligations hereunder.

 

ARTICLE V

Covenants of Everest and
the Stockholders

 

Everest and each Stockholder covenants and agrees
as follows:

 

Section 5.1.          Documentation
and Information. Everest and each Stockholder (a) consents to and authorizes the publication and disclosure by the Company
and its Affiliates of its identity and holdings of Company Common Stock and the nature of its commitments and obligations under
this Agreement in any announcement or disclosure required by the SEC, any other Government Entity, any proxy statement, or any
other disclosure document in connection with the Acquisition or any of the other transactions contemplated by the Acquisition Agreement
or this Agreement or otherwise required by Law, and (b) agrees promptly to give to the Company any information the Company may
reasonably require for the preparation of any such disclosure documents, which information shall not contain any untrue statement
of a material fact or omit to state a material fact necessary to make such information not misleading. Everest and each Stockholder
agrees to promptly notify the Company of any required corrections with respect to any written information supplied by it specifically
for use in any such disclosure

 

    	11

    	 

    

 

document, if and to the extent that any such information
shall have become false or misleading in any material respect.

 

Section 5.2.          SEC
Filings. Everest and each Stockholder shall provide the Company and its counsel with a copy of the initial Schedule 13D to
be filed by Everest or the Stockholder, as applicable, with respect to the Company, and any proposed amendment thereto, at least
24 hours in advance of filing such initial Schedule 13D or such amendment, as the case may be, with the SEC and shall consider
any reasonable comments thereto proposed in a timely manner by the Company.

 

ARTICLE VI

Termination

 

Section 6.1.          This
Agreement and the covenants and agreements set forth in this Agreement shall automatically terminate (without any further action
of the parties) upon termination of the Standstill Period. In the event of termination of this Agreement pursuant to this Section
6.1, this Agreement shall become void and of no effect with no liability on the part of any party; provided, however, no such termination
shall relieve any party from liability for any willful and material breach hereof prior to such termination; provided further,
that the provisions set forth in this Article VI and Article VII shall survive the termination of this Agreement.

 

ARTICLE VII

Miscellaneous

 

Section 7.1.          Governing
Law; Jurisdiction; Waiver of Jury Trial.

 

(a)          THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (WITHOUT REGARD TO ANY PRINCIPLES
OF CONFLICTS OF LAW THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION).

 

(b)          Each
of the parties hereto unconditionally and irrevocably (i) consents and submits to the exclusive jurisdiction of the Delaware
Court of Chancery or, in the event that such court does not have jurisdiction over the dispute, to the federal district court of
the District or Delaware or to the courts of the State of Delaware (the “Delaware Courts”) in connection with
any dispute that arises out of or relates to this Agreement or any of the agreements or transactions contemplated by this Agreement,
(ii) hereby irrevocably and unconditionally waives any and all jurisdictional, venue and forum non conveniens objections or
defenses that such party may have in any such action and agrees that it will not attempt to deny or defeat such jurisdiction by
motion or other request for leave from any such Delaware Court; (iii) agrees that it will not bring any action arising out
of or relating to this Agreement or any other agreement or the transactions contemplated hereby or thereby in any court other than
the Delaware and (iv) consents to service of process in the manner provided for notices in Section 7.5. Notwithstanding the
previous sentence, a party may commence any such action in a court other

 

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than the Delaware Courts solely for the purpose
of enforcing an order or judgment issued by one of such courts.

 

(c)          EACH
OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION UNDER THIS AGREEMENT. THE
PARTIES HERETO AGREE THAT ANY OR ALL OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING,
VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY COURT ACTION OR PROCEEDING
WHATSOEVER BETWEEN THEM THAT IS PERMITTED UNDER THIS AGREEMENT SHALL INSTEAD BE TRIED IN A DELAWARE COURT BY A JUDGE SITTING WITHOUT
A JURY.

 

Section 7.2.          Specific
Performance. Each of the parties hereto acknowledges and agrees that irreparable damage would occur in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached, and that
monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that the parties hereto
shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the performance
of terms and provisions of this Agreement in any court referred to in Section 7.1, without proof of actual damages (and each party
hereby waives any requirement for the securing or posting of any bond or other security against it in connection with such remedy),
this being in addition to any other remedy to which a party may be entitled at law or in equity. Each party hereto hereby consents
to the right of the other parties hereto to the issuance of such injunction or injunctions, and to the grant of such injunction
or injunctions. Each party hereto further agree not to assert that a remedy of specific enforcement is unenforceable, invalid,
contrary to Law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy
for any such breach.

 

Section 7.3.          Assignment.
Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part,
by operation of Law or otherwise by any of the parties hereto without the prior written consent of the other party. Any purported
assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to
the benefit of, and be enforceable by, the parties and their respective successors and permitted assigns.

 

Section 7.4.          Amendments;
Waivers. This Agreement may not be amended except by an instrument in writing signed on behalf of the Company and Everest,
it being understood that nothing in this Agreement shall be deemed to prohibit Everest from requesting on a confidential basis
an amendment to this Agreement or waiver or modification of its obligations hereunder. Any agreement on the part of a party to
any amendment or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. The failure
of a party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such
rights.

 

    	13

    	 

    

 

Section 7.5.          Notices.

 

(a)          All
notices and communications hereunder shall be deemed to have been duly given and made if in writing and if (i) served by personal
delivery upon the party for whom it is intended, when delivered, or if delivered by (ii) overnight mail, return receipt requested,
one Business Day following the day on which such notice is sent, (iii) if delivered by United States mail, five days after being
mailed, certified or registered mail with postage prepaid, or (iv) if sent by facsimile or email, upon written confirmation of
transmission, in each case, to the Person at the address set forth below, or such other address as may be designated in writing
hereafter, in the same manner, by such Person:

 

If to Everest:

 

c/o Golden Gate Capital

One Embarcadero Center, 39th Floor

San Francisco, California 94111

Phone: 415-983-2700

Fax:     415-983-2701

Attention:      Stephen Oetgen,
Esq.

 

with a copy to:

 

Kirkland & Ellis LLP

555 California Street, 27th Floor

San Francisco, California 94104

Phone: 415-439-1400

Fax:     415-439-1500

Attention:      Mikaal Shoaib,
Esq.

Jeremy M. Veit, Esq.

 

If to the Company:

 

Jos. A. Bank Clothiers, Inc.

500 Hanover Pike

Hampstead, Maryland 21074

Phone: (410) 239-2700

Fax:     (410) 239-5716

Attention:      General
Counsel

 

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with a copy to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036

Phone: (212) 735-3000

Facsimile: (212) 735-2000

Attention:      Paul T. Schnell

Jeremy D. London

 

(b)                       The
failure to provide notice in accordance with the required timing, if any, set forth herein shall affect the rights of the party
providing such notice only to the extent that such delay actually prejudices the rights of the party receiving such notice.

 

Section 7.6.          Expenses.
All fees and expenses incurred in connection with this Agreement and the transactions contemplated by this Agreement shall be paid
by the party incurring such fees or expenses.

 

Section 7.7.          Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule, Law or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party
or such party waives its rights under this Section 7.7 with respect thereto. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so
as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that transactions contemplated
by this Agreement are fulfilled to the extent possible.

 

Section 7.8.          Entire
Agreement; No Third Party Beneficiaries. This Agreement, the Acquisition Agreement (including the exhibits, the annexes and
the disclosure letters thereto) and the other Ancillary Agreements (as defined in the Acquisition Agreement) constitute the entire
agreement, and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the
subject matter of this Agreement. This Agreement is not intended to confer upon any Person other than the parties hereto any rights
or remedies.

 

Section 7.9.          Interpretation.

 

(a)          Capitalized
terms used herein without definition shall have the respective meanings ascribed to them in the Acquisition Agreement.

 

(b)          When
a reference is made in this Agreement to an Article or a Section, such reference shall be to an Article or a Section of this Agreement
unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. Any capitalized term used in any Schedule or Exhibit but not otherwise defined
therein shall have the meaning assigned to such term in this

 

    	15

    	 

    

 

Agreement. Whenever the words “include”,
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
“without limitation”. The words “hereof”, “hereto”, “hereby”, “herein”
and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and
not to any particular provision of this Agreement. The term “or” is not exclusive. The word “extent” in
the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not
mean simply “if”. The definitions contained in this Agreement are applicable to the singular as well as the plural
forms of such terms. Any agreement, instrument or Law defined or referred to herein means such agreement, instrument or Law as
from time to time amended, modified or supplemented, unless otherwise specifically indicated. References to a person are also to
its permitted successors and assigns. Unless otherwise specifically indicated, all references to “dollars” and “$”
will be deemed references to the lawful money of the United States of America.

 

Section 7.10.         Counterparts.
This Agreement may be executed in counterparts, each of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.

 

Section 7.11.         No
Strict Construction. The parties hereto acknowledge that this Agreement has been prepared jointly by them and shall not be
strictly construed against any party hereto.

 

[SIGNATURE
PAGE FOLLOWS]

 

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

 

	 	JOS. A. BANK CLOTHIERS, INC.
	 	 	 	 
	 	By:	/s/ Charles D. Frazer
	 	 	Name:	Charles D. Frazer
	 	 	Title:	Senior Vice President-General Counsel
	 	 	 	 
	 	EVEREST TOPCO LLC
	 	 	 	 
	 	By:	/s/ Michael R. Egeck
	 	 	Name:	Michael R. Egeck
	 	 	Title:	President and Chief Executive Officer

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