Document:

EX-10.1

 Exhibit 10.1 
  

 
  

SHARED SERVICES AGREEMENT 
 by and
between 
 KELLWOOD COMPANY, LLC 

and 
 VINCE, LLC 

Dated as of November 27, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I Definitions
	  	 	1	  
	 1.1  
	  	 Certain Defined Terms in this Agreement
	  	 	1	  
	 1.2  
	  	 Interpretation
	  	 	4	  
		
	 ARTICLE II Services
	  	 	4	  
	 2.1  
	  	 Service Schedules
	  	 	4	  
	 2.2  
	  	 Performance of Services
	  	 	4	  
		
	 ARTICLE III Charges and Billing; Taxes
	  	 	6	  
	 3.1  
	  	 Fees for Services
	  	 	6	  
	 3.2  
	  	 Fees for New Services
	  	 	6	  
	 3.3  
	  	 Fees for Services Provided by Third Party Service Providers
	  	 	6	  
	 3.4  
	  	 Invoices
	  	 	6	  
	 3.5  
	  	 Quarterly True-Up
	  	 	7	  
	 3.6  
	  	 Late Payments
	  	 	8	  
	 3.7  
	  	 Taxes
	  	 	8	  
		
	 ARTICLE IV Term
	  	 	8	  
	 4.1  
	  	 Agreement
	  	 	8	  
	 4.2  
	  	 Service Schedules
	  	 	8	  
	 4.3  
	  	 Termination for Cause
	  	 	8	  
	 4.4  
	  	 Termination of Individual Services
	  	 	8	  
	 4.5  
	  	 Termination Assistance
	  	 	9	  
		
	 ARTICLE V Confidentiality
	  	 	9	  
	 5.1  
	  	 Confidential Information
	  	 	9	  
	 5.2  
	  	 Standard of Care; Disclosure
	  	 	10	  
	 5.3  
	  	 Data Privacy
	  	 	10	  
		
	 ARTICLE VI Indemnification
	  	 	10	  
	 6.1  
	  	 Obligation of the Service Provider to Indemnify
	  	 	10	  
	 6.2  
	  	 Obligation of the Recipient to Indemnify
	  	 	10	  
		
	 ARTICLE VII Exclusion of Certain Damages and Sole Remedy
	  	 	10	  
	 7.1  
	  	 EXCLUSION OF CERTAIN DAMAGES AND SOLE REMEDY
	  	 	10	  
	 7.2  
	  	 Sole Remedy
	  	 	11	  
	 7.3  
	  	 Disclaimer of Warranties
	  	 	11	  
	 7.4  
	  	 Force Majeure
	  	 	11	  
	 7.5  
	  	 Specific Performance
	  	 	11	  
		
	 ARTICLE VIII Miscellaneous
	  	 	12	  
	 8.1  
	  	 Shared Contracts
	  	 	12	  
	 8.2  
	  	 Independent Contractors
	  	 	13	  
	 8.3  
	  	 Employees
	  	 	13	  
	 8.4  
	  	 Intellectual Property
	  	 	13	  
	 8.5  
	  	 Dispute Resolution
	  	 	13	  

							
	 8.6  
	  	 Notices
	  	 	14	  
	 8.7  
	  	 Successors and Assigns
	  	 	15	  
	 8.8  
	  	 Amendment and Waiver
	  	 	15	  
	 8.9  
	  	 Counterparts
	  	 	15	  
	 8.10
	  	 Headings
	  	 	15	  
	 8.11
	  	 Governing Law
	  	 	15	  
	 8.12
	  	 Severability
	  	 	15	  
	 8.13
	  	 Entire Agreement
	  	 	15	  
	 8.14
	  	 Further Assurances
	  	 	16	  
	 8.15
	  	 Publicity
	  	 	16	  

  
 ii 

 SHARED SERVICES AGREEMENT 

THIS SHARED SERVICES AGREEMENT (this “Agreement”) is made and entered into as of November 27, 2013
(“Effective Date”) by and between Kellwood Company, LLC, a Delaware limited liability company (“Kellwood”) and Vince, LLC, a Delaware limited liability company (“Vince”). Each of Kellwood and Vince
are referred to herein sometimes as a “Party” and together as the “Parties.” 
 WITNESSETH: 

WHEREAS, each of the Parties has requested that the other Party provide certain services to the first Party; and 

WHEREAS, each of the Parties has agreed to provide services to and accept services from the other Party. 

NOW, THEREFORE, in consideration of the promises and the respective representations, warranties, covenants, agreements, and conditions
contained herein, the Parties agree as follows. 
 ARTICLE I 

Definitions 
 1.1
Certain Defined Terms in this Agreement. The following terms when used in this Agreement with initial capital letters shall have the respective meanings set forth in this Section 1.1. 

(a) “Accounting Firm” shall mean Ernst & Young, and if Ernst & Young refuses or is unable to perform the
requested services, Deloitte. If Deloitte refuses or is unable to perform the requested services, Kellwood and Vince shall negotiate in good faith to agree upon a different valuation firm, which valuation firm shall not be one of the ten largest
accounting firms in the United States. 
 (b) “Agreement” shall have the meaning set forth in the preamble. 

(c) “Affiliate” of any particular Person means any other Person controlling, controlled by or under common control with such
particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, contract or otherwise; provided that
with respect to either Party to this Agreement, the other Party shall not be deemed to be its Affiliate. 
 (d) “Business
Day” means any day that is not a Saturday, a Sunday or a day on which banks are required to be closed in the state of New York. 

(e) “Confidential Information” means all information of a confidential or proprietary nature (whether or not specifically
labeled or identified as “confidential”), in any form or medium, that relates to the business, products, financial condition, services, or research 

 
or development of either Party or their respective suppliers, distributors, customers, independent contractors or other business relations. Confidential Information includes, but is not limited
to, the following: (i) internal business and financial information (including information relating to strategic and staffing plans and practices, business, finances, training, marketing, promotional and sales plans and practices, cost, rate and
pricing structures and accounting and business methods); (ii) identities of, individual requirements of, specific contractual arrangements with, and information about, either Party’s suppliers, distributors, customers, independent
contractors or other business relations and their confidential information; (iii) trade secrets, know-how, compilations of data and analyses, techniques, systems, formulae, recipes, research, records,
reports, manuals, documentation, models, data and databases relating thereto; (iv) inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports and all similar or related information (whether or not
patentable); and (v) other intellectual property rights. Notwithstanding the foregoing, “Confidential Information” does not include (a) information that either Party can demonstrate was or has become generally available to
the public other than as a result of disclosure by such Party or its Affiliates, (b) information that is disclosed to a Party or its Affiliates, other than under an obligation of confidentiality, by a third party who had no obligation not to
disclose such information to others or (c) information that is independently developed after the date hereof by a Party or its Affiliates without the use of the other Party’s or its Affiliates’ Confidential Information. 

(f) “Effective Date” shall have the meaning set forth in the preamble. 

(g) “Fees” shall mean the charges for the Services payable by the Recipient to Service Provider. 

(h) “Governmental Authority” means any government, nation, state, province, territory or any political subdivision thereof
and any department, commission, board, bureau, agency, instrumentality, or other regulatory authority of any of the foregoing, whether federal, state, local transnational or foreign. 

(i) “Law” means any applicable law, rule, regulation, judgment, injunction, order, decree or other restriction of any
Governmental Authority. 
 (j) “Loss” shall have the meaning set forth in Section 6.1. 

(k) “Kellwood Business” means the business of Kellwood immediately prior to the Closing, other than the Vince Business. 

(l) “New Services” means any services that prior to the date of this Agreement were not received by the Recipient through or
from the Service Provider and which are added to the Schedules after the Effective Date pursuant to Section 2.1(b) upon mutual agreement by the Parties. 

(m) “New Services Fees” means the fees for New Services, which shall be mutually agreed upon in good faith by the Parties.

  
 2 

 (n) “Person” means an individual, sole proprietorship, a partnership, a
corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a Governmental Authority. 

(o) “Prime Rate” means the rate that Wells Fargo (or its successor or another major money center commercial bank agreed to
by the parties) announces as its prime lending rate, as in effect from time to time. 
 (p) “Recipient” means a Party in
its capacity of receiving Services from the other Party. 
 (q) “Recipient Expense” means any amounts that may be paid by
Service Provider on behalf of Recipient, including payroll, benefits, taxes, vendor payments or any other Recipient related expenses. 

(r) “Schedule” means a schedule attached hereto. 

(s) “Service Provider” means a Party in its capacity of providing Services to the other Party. 

(t) “Service Term” means the term of each Service which shall begin on the Effective Date, or such later date, if any, set
forth on the Schedule related to such Service, and shall continue indefinitely unless (i) an express expiration date is set forth in the applicable Schedule with respect to such Service, in which case such Service Term shall be through the
expiration date expressly set forth in the applicable Schedule with respect to such Service (unless terminated earlier pursuant to Section 4.3 or Section 4.4) or (ii) terminated pursuant to Section 4.3 or
Section 4.4. 
 (u) “Services” means (i) the services set forth on the Schedules attached hereto,
(ii) if not set forth on the Schedules attached hereto, such other services that the Recipient received through or from the Service Provider in the ordinary course of business within the twelve (12) months prior to the date of this
Agreement and which are requested in writing by the Recipient (other than legal services, store design and any other services that Vince is currently performing as of the date hereof, which shall not be services hereunder) and (iii) the New
Services, in each case as further described in Article II. 
 (v) “Third Party Service Provider” means a third
party that has been engaged by a Service Provider to assist in the delivery and performance of its obligations under this Agreement. 
 (w)
“Term” means the period commencing on the Effective Date and, unless sooner terminated pursuant to the terms hereof, continuing in effect until the termination of all Service Terms. 

(x) “Vince Business” means the design, development, manufacturing, sourcing, marketing, licensing, distribution and sale of
Vince branded apparel and related accessories through wholesale, retail stores, e-commerce and any other distribution channels. 

  
 3 

 1.2 Interpretation. When a reference is made to an Article, Section or Schedule, such
reference shall be to an Article, Section or Schedule of or to this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be
followed by the words “without limitation” and, unless the context otherwise requires, “neither,” “nor,” “any,” “either” and “or” shall not be exclusive. Unless the context requires
otherwise, words using the singular or plural number also include the plural or singular number, respectively, and the use of any gender herein shall be deemed to include the other genders. 

ARTICLE II 
 Services

 2.1 Service Schedules. 

(a) Commencing on the Effective Date and continuing throughout the Service Term applicable to each Service, the Service Provider (including
through its Affiliates and Third Party Service Providers) shall provide the Services to the Recipient pursuant to the terms of this Agreement and as set forth in the Schedules. In the event of any discrepancy between this Agreement and any Schedule,
this Agreement shall govern unless the Schedule expressly overrides this Agreement. 
 (b) Unless otherwise expressly set forth on any
particular Schedule or Schedules (in which such case the terms set forth on such Schedule or Schedules shall govern the modification or supplementation of such Schedule or Schedules), after the date hereof, the Schedules may be modified or
supplemented only by mutual agreement of the Parties. 
 (c) Notwithstanding the fact that prior to the Effective Date the Service Provider
may have performed Services without charge for the Recipient according to past practice in the ordinary course of business, the Recipient is hereby required to pay the Service Provider for such Services in accordance with the terms of the Agreement
including Article III hereof. 
 2.2 Performance of Services. 

(a) The Service Provider covenants that it shall perform the Services in a commercially reasonable and workmanlike manner, and in any case, in
a manner consistent with the level of services such Service Provider would in similar circumstances provide to its Affiliates through its companies or businesses, or as otherwise provided in the Schedules. During the Term, the Service Provider shall
use commercially reasonable efforts to maintain the resources appropriate to provide the Services with not less than the level of care, quality, and timeliness that the Service Provider would use to provide similar services to its own businesses.
The Service Provider shall promptly notify the Recipient of any staffing or resource problems of which it becomes aware of that could reasonably be considered to materially affect the Services. The Parties shall work together in good faith to remedy
any such problems. 
 (b) The Recipient understands that prior to the Effective Date, the Service Provider may have contracted with Third
Party Service Providers to provide services in connection with all or any portion of the Services to be provided hereunder. The Service Provider reserves the right to continue in accordance with past practice in the ordinary course of business to
subcontract with Third Party Service Providers to provide the Services. 

  
 4 

 (c) The Service Provider shall perform the Services in compliance in all material respects with
all applicable Laws. The Service Provider shall promptly notify the Recipient of any compliance problems of which it becomes aware that could reasonably be considered to materially and adversely affect the Services or the Recipient. 

(d) Both Parties shall use commercially reasonable efforts to obtain as promptly as possible the consents, approvals, licenses or
authorizations of any Person as may be necessary for the performance of its obligations pursuant to this Agreement, provided that the Service Provider shall be the primary point of contact with such Person. The Recipient shall be responsible for any
costs associated with obtaining such consents, approvals, licenses or authorizations, provided that the Service Provider must obtain the Recipient’s prior consent to such costs before agreeing to or otherwise incurring such costs. In the event
that the consent, approval, license or authorization of any such Person, if required, is not obtained within a reasonable time period after the Effective Date, the Parties shall work together to develop a commercially reasonable alternative for the
provision of the Services affected by such failure to obtain consent. While the Parties are developing such an alternative plan, the Service Provider shall be relieved of its obligations as set forth in Section 2.2(e) and the Recipient
shall not be obligated to pay for such Services. If the Parties elect such an alternative plan, the Service Provider shall provide the Services in such alternative manner at the Recipient’s sole cost and expense (unless otherwise agreed in
writing by the Parties). If the Parties do not accept such alternative, or no commercially reasonable alternative exists, the Service Provider shall be relieved of its obligation to provide such Service and Recipient shall have no obligation to pay
for such Service. 
 (e) The Service Provider’s inability to perform any of its responsibilities under this Agreement shall be excused
if and to the extent the non-performance is caused by: (i) the failure of the Recipient, its third party providers, its subcontractors, or its or their employees or agents: (A) to perform the Recipient’s obligations under this
Agreement, or (B) to provide resources the Service Provider reasonably requested when required; (ii) the wrongful or tortious actions of the Recipient, its third party providers, its subcontractors, or its or their employees or agents;
(iii) the Service Provider’s compliance with the Recipient’s instructions, decisions, consents, notices, acceptances, authorizations, waivers, permissions or approvals; or (iv) the improper functioning or unavailability of
technology for which Service Provider or any of its Third Party Service Providers does not have operational responsibility. In the event the Recipient fails to perform its obligations hereunder or to provide resources under this Agreement when
required, the Service Provider will notify the Recipient in writing of any such failure and nonetheless use commercially reasonable efforts to provide the Services in the absence of such resources, provided that the Recipient will reimburse the
Service Provider for any costs reasonably incurred by Service Provider in the course of mitigating, overcoming, or working around the effects of such non-performance. 

(f) Review Meetings. The Parties agree to hold review meetings (the “Review Meetings”) not less than once each fiscal
year of Vince on a date to be set by management of Vince with the consent of Kellwood, which shall not be unreasonably withheld, 

  
 5 

 
conditioned or delayed. Representatives of Vince and of Kellwood shall attend the Review Meeting (and Vince and Kellwood shall use commercially reasonable efforts to cause all Kellwood Affiliates
and, if requested by either Party, Third Party Service Providers, in each case that are providing Services hereunder at the time of the meeting to attend the Review Meeting) and such attendees shall review and discuss any operational, strategic or
other issues raised by any participant with respect to the provision of the Services, including any New Services or proposed New Services. The Parties intend that the information exchanged at such Review Meetings shall be in addition to ongoing
communication between representatives of the Parties with respect to the provision of services hereunder. In the event either Party determines to change their fiscal year, it shall give not less than ninety (90) day’s written notice to the
other Party of such change and the Parties shall work in good faith to make such changes as may be reasonably necessary to this Agreement and the Schedules as a result of such fiscal year change. 

ARTICLE III 
 Charges and
Billing; Taxes 
 3.1 Fees for Services. Unless otherwise set forth in the Schedules, the Fees for the Services (other than New
Services) shall be the full amount of any and all actual out-of-pocket expenses, including base salary, wages, certain bonuses and other benefits (without providing for any margin of profit or allocation of depreciation or amortization expense)
incurred by the Service Provider or its Affiliates in connection with the provision of the Services; provided that in no event shall the Fees be less than the actual out-of-pocket expenses, including base salary, wages, certain bonuses and
other benefits (without providing for any margin of profit or allocation of depreciation or amortization expense) incurred by the Service Provider or its Affiliates in connection with the provision of the Services. 

3.2 Fees for New Services. The Fees for the New Services shall be the New Services Fees. 

3.3 Fees for Services Provided by Third Party Service Providers. The Fees for any Services that the Service Provider provides through a
Third Party Service Provider shall be the actual cost incurred by the Service Provider in contracting with the Third Party Service Provider to provide such Service. 

3.4 Invoices. The Service Provider shall provide an invoice for the Fees and amounts owed hereunder on a monthly basis in arrears, by
the fifteenth (15th) Business Day following the end of each fiscal month commencing with the first completed fiscal month following the Effective Date. Each invoice shall set forth in reasonable detail the applicable Services provided during
such period and the corresponding amounts owed for each of the Services. The Recipient shall pay the invoice in full within fifteen (15) Business Days of receiving such invoice. The Service Provider shall give reasonable advance notice of the
amount of Recipient Expenses to the Recipient and the Recipient Expenses shall be deposited by Recipient into an account specified by Service Provider at least three (3) Business Days prior to being paid out by Service Provider. Any Recipient
Expense that may be paid by Service Provider prior to such deposit shall be promptly, and no later than five (5) Business Days after requested by the Service Provider, reimbursed to the Service Provider by the Recipient. The Recipient shall
have the right, upon reasonable written notice to the Service Provider, to 

  
 6 

 
reasonably inspect the books, accounts and records of the Service Provider relating directly to the Services solely for the purposes of verifying the amounts invoiced to the Recipient
hereunder; provided, that such access does not unreasonably interfere with the operations of the Service Provider or any of its Affiliates. The Recipient shall bear the cost of any such inspection. 

3.5 Quarterly True-Up. Within thirty (30) days following the end of each Vince fiscal quarter, the Service Provider shall deliver
to the Recipient a statement (in its final and binding form, the “True-Up Statement”) setting forth, in reasonable detail, all (i) amounts invoiced for such fiscal quarter and (ii) the amount (the “True-Up
Amount”), either to be paid by the Recipient to the Service Provider or by the Service Provider to the Recipient, required to reconcile the actual Fees for such fiscal quarter versus the amount of Fees paid for such fiscal quarter by the
Recipient to the Service Provider. During the fifteen (15) days following the Recipient’s receipt of the True-Up Statement, the Recipient shall be permitted to review the Service Provider’s working papers relating to the True-Up
Statement. The True-Up Statement shall become final and binding upon the parties fifteen (15) days following the Recipient’s receipt thereof, unless the Recipient gives written notice of its disagreement (a “Notice of
Disagreement”) to the Service Provider prior to such date. Any Notice of Disagreement shall specify in reasonable detail the nature and dollar amount of any disagreement so asserted. If a timely Notice of Disagreement is received
by the Service Provider, then the True-Up Statement (as revised in accordance with clause (x) or (y) below) shall become final and binding upon the parties on the earliest of (x) the date the Parties resolve in writing any differences
they have with respect to the matters specified in the Notice of Disagreement or (y) the date all matters in dispute are finally resolved in writing by the Accounting Firm. The True-Up Amount, if any, shall be paid by the applicable Party
within five (5) business days of the True-Up Statement becoming final. During the fifteen (15) days following delivery of a Notice of Disagreement, the Service Provider and the Recipient shall seek in good faith to resolve in writing any
differences which they may have with respect to the matters specified in the Notice of Disagreement. During such period, the Service Provider shall be permitted to review the Recipient’s working papers relating to the Notice of
Disagreement. At the end of such fifteen (15)-day period, the Service Provider and the Recipient shall submit to the Accounting Firm for review and resolution of all matters (but only such matters) that remain in dispute, and the Accounting
Firm shall make a final determination of the True-Up Amount in accordance with the guidelines and procedures set forth in this Agreement. The Service Provider and the Recipient will cooperate with the Accounting Firm during the term of its
engagement. The Accounting Firm’s determination of True-Up Amount shall be based solely on written presentations submitted by the Service Provider and the Recipient which are in accordance with the guidelines and procedures set forth in
this Agreement (i.e., not on the basis of an independent review). The Accounting Firm shall consider only the disputed matters that were included in the Notice of Disagreement and the Accounting Firm may not assign a value to any item in
dispute greater than the greatest value assigned by the Recipient, on the one hand, or the Service Provider, on the other hand, or less than the smallest value for such item assigned by the Recipient, on the one hand, or the Service Provider on the
other hand. The True-Up Statement shall become final and binding on the Parties on the date the Accounting Firm delivers its final resolution in writing to the Parties (which the Accounting Firm shall be instructed to deliver not more than
thirty (30) days following submission of such disputed matters). The fees and expenses of the Accounting Firm shall be allocated based upon the percentage which the portion of the contested amount not

  
 7 

 
awarded to each Party bears to the amount actually contested by such Party in the written presentation to the Accounting Firm. For example, if the Recipient submits a Notice of Disagreement
for $1,000, and if Service Provider contests only $500 of the amount claimed by the Recipient, and if the Accounting Firm ultimately resolves the dispute by awarding the Recipient $300 of the $500 contested, then the costs and expenses of the
Accounting Firm will be allocated 60% (i.e., 300/500) to the Service Provider and 40% (i.e., 200/500) to the Recipient. 
 3.6
Late Payments. Fees not paid when due in accordance with the provisions of Section 3.4 shall bear interest at a rate per annum equal to the Prime Rate plus one percent (1%) from such date due until the date paid (including
any disputed Fees to the extent finally determined in accordance with Section 3.5 to be due and payable). 
 3.7 Taxes.
The Recipient shall pay any and all taxes incurred in connection with the Service Provider’s provision of the Services, including all sales, use, value-added, and similar taxes, but excluding taxes based on the Service Provider’s net
income. 
 ARTICLE IV 

Term 
 4.1
Agreement. This Agreement shall remain in effect during the Term; provided that, the provisions of Article V, Article VI, Article VII, and Article VIII, and any other provision of this Agreement and
the Service Schedules which by their terms are intended to survive, shall survive the termination or the expiration of this Agreement. 

4.2 Service Schedules. The term of each Service shall be the Service Term for that Service. 

4.3 Termination for Cause. Either Party may terminate this Agreement if the other Party is in material breach of this Agreement, and
such other Party fails to cure such breach within thirty (30) days following receipt of written notice thereof from the non-breaching Party; it being agreed that failure of the Recipient to timely pay invoices pursuant to
Section 3.4 (subject to Section 3.5) shall constitute a material breach of this Agreement. 
 4.4 Termination of
Individual Services. The Recipient may terminate any or all of the Services (including any portion of a specific Service) at any time for any reason (with or without cause) upon giving the Service Provider the required advanced notice for
termination of such Service or Services as set forth in the Schedule applicable to such Service or Services; provided that if the Schedule does not specify a notice requirement for the applicable Service or Services to be terminated, ninety
(90) days prior written notice shall be required to be given by the Recipient. The termination of any Service or a portion thereof shall not relieve the Recipient of the obligation to pay for any terminated Services that are provided prior to
the effective date of such termination. The Recipient acknowledges that upon the termination of certain Services or portions thereof, the Service Provider may no longer be in a position to provide certain other Services or portions thereof that are
related to such terminated Services or terminated portions thereof. Within ten (10) Business Days following the date upon which the Recipient notifies the Service Provider in writing that the Recipient no longer requires the Service Provider to
provide a Service or portion thereof (the “Proposed Terminated Services”), the Service Provider shall 

  
 8 

 
notify the Recipient in writing of the related Services or portions thereof that the Service Provider will no longer be in a position to provide upon the termination of the Proposed Terminated
Services (the “Additional Terminated Services”) and the Recipient shall, within five (5) Business Days of such notification by the Service Provider, respond in writing of the Recipient’s determination to (i) terminate
the Proposed Terminated Services and the Additional Terminated Services or (ii) withdraw the initial election to terminate the Proposed Terminated Services. 

4.5 Termination Assistance. Except as otherwise provided in Article V, upon termination of this Agreement or when any
Confidential Information furnished by the disclosing party pursuant to this Agreement is no longer needed for the purposes contemplated by this Agreement, the receiving party shall, at the disclosing party’s written direction, promptly either
return to the disclosing party all the disclosing party’s Confidential Information in a tangible form (including all copies thereof and all notes, extracts or summaries based thereon), or certify to the disclosing party that such Confidential
Information has been destroyed; provided that the receiving party shall not be required to return or destroy Confidential Information that (a) is required to be retained by law, regulation, rule or policy of any stock exchange or
regulatory authority or documented internal retention policies, or (b) is residing in data back-up systems and created in the ordinary course of business; and provided further that any Confidential Information so retained will treated
consistent with the receiving party’s own confidential information. 
 ARTICLE V 

Confidentiality 
 5.1
Confidential Information. Each Party shall maintain, and shall cause such Party’s controlling equity holders, directors, officers, employees, agents, consultants and contractors to maintain, in strict confidence and shall not disclose to
any third party (except to its Affiliates and service providers in connection with the provision of the Services that are themselves bound by similar nondisclosure restrictions; provided, that the Party disclosing such Confidential
Information to its Affiliates or service providers shall be liable for any disclosures made by such Affiliates or service providers that would, if made by the disclosing Party, violate this Section 5.1 as if the disclosing Party had made
such disclosure) any and all Confidential Information, except as may be necessary in order to comply with a requirement of Law, in which case the receiving party shall, if permissible, promptly notify the disclosing party of any such requirement and
such disclosing party shall be permitted to seek confidential treatment for such information; provided that any Party or its Affiliates may disclose the terms of this Agreement (without providing notice to the other Party) (i) in any
registration statement relating to the initial public offering by Apparel Holding Corp., a Delaware corporation, of its common stock pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Initial
Public Offering”) and (ii) in order to comply with the disclosure requirements of the U.S. Securities Exchange Commission (including but not limited to the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as
amended), and the rules and regulations of any exchange on which such Party’s securities are listed. 

  
 9 

 5.2 Standard of Care; Disclosure. With respect to any such Confidential Information, each
of the Parties shall: (i) use the same degree of care in safeguarding the other Party’s Confidential Information as it uses to safeguard its own information which is proprietary and/or treated as confidential; and (ii) upon the
discovery of any inadvertent disclosure or unauthorized use of the Confidential Information, or upon obtaining notice of such disclosure or use from the other Party, take or cause to be taken all necessary actions to prevent any further inadvertent
disclosure or unauthorized use. 
 5.3 Data Privacy. Each Party shall use commercially reasonable efforts to develop and implement a
written comprehensive information security program to protect personal information and shall use commercially reasonable efforts to implement and maintain appropriate security measures to protect personal information, in each case to the extent
required by applicable Laws. 
 ARTICLE VI 

Indemnification 
 6.1
Obligation of the Service Provider to Indemnify. The Service Provider shall indemnify, defend, and hold harmless the Recipient, its Affiliates, and its and their respective equity holders, directors, officers, managers, employees, agents,
representatives successors and permitted assigns (collectively, the “Recipient Indemnitees”) from and against any and all deficiencies, liabilities, obligations or out-of-pocket costs or expenses, including reasonable
attorneys’ fees and expenses and costs and expenses of investigation (collectively, “Losses”) incurred or suffered by the Recipient Indemnitees attributable or relating to the Service Provider’s actual fraud or breach of
this Agreement; provided, that, other than in the case of actual fraud or a breach of Article V hereof by the Service Provider, the amount of such indemnification shall not exceed an aggregate amount equal to the fees actually received
by the Service Provider from the Recipient for provision of the Service or Services attributable to or relating to such Losses for the six calendar months preceding the date on which such claim for indemnification is made. 

6.2 Obligation of the Recipient to Indemnify. The Recipient shall indemnify, defend, and hold harmless the Service Provider, its
Affiliates and its and their respective equity holders, directors, officers, managers, employees, agents, representatives, successors and permitted assigns (collectively, the “Service Provider Indemnitees”) from and against any and
all Losses incurred or suffered by any Service Provider Indemnitee attributable or relating to the Recipient’s actual fraud or breach of this Agreement. 

ARTICLE VII 
 Exclusion
of Certain Damages and Sole Remedy 
 7.1 EXCLUSION OF CERTAIN DAMAGES AND SOLE REMEDY. TO THE MAXIMUM EXTENT PERMITTED BY
APPLICABLE LAW, EXCEPT FOR CLAIMS RELATING TO (A) A BREACH OF ARTICLE V OR (B) A PARTY’S GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR ACTUAL FRAUD, NEITHER PARTY WILL BE LIABLE TO THE OTHER FOR ANY SPECIAL, INCIDENTAL, PUNITIVE,
INDIRECT OR CONSEQUENTIAL DAMAGES OR LOST PROFITS, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY, ARISING FROM THE PERFORMANCE OF, OR RELATING TO, THIS AGREEMENT REGARDLESS OF WHETHER SUCH PARTY HAS 

  
 10 

 
BEEN NOTIFIED OF THE POSSIBILITY OF, OR THE FORESEEABILITY OF, SUCH DAMAGES. THE PARTIES AGREE THAT THE LIMITATIONS SPECIFIED IN THIS SECTION 7.1 SHALL SURVIVE AND APPLY EVEN IF ANY
LIMITED REMEDY SPECIFIED IN THIS AGREEMENT IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. 
 7.2 Sole Remedy. Except as set forth
in Section 7.5, the Parties acknowledge and agree that their sole and exclusive remedy against any other Party or any of their Affiliates and any equityholder, officer, manager, director, employee or agent of any of the foregoing,
whether in any individual, corporate or any other capacity, with respect to any and all claims, other than claims for actual fraud or a breach of Article V relating (directly or indirectly) to the subject matter of this Agreement, regardless
of the legal theory under which such liability or obligation may be sought to be imposed, whether sounding in contract or tort, or whether at law or in equity, or otherwise, shall be as set forth in Article VI. 

7.3 Disclaimer of Warranties. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, THE SERVICE PROVIDER AND THE RECIPIENT HEREBY DISCLAIMS ALL
WARRANTIES, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE. 

7.4 Force Majeure. Each Party will be excused from acting, failing to act or delay in acting, and no such action, failure or delay
shall constitute a breach of this Agreement or otherwise give rise to any liability of such Party, if such action, failure or delay is caused by circumstances beyond such Party’s reasonable control, including, but not limited to, emergency
conditions, action or inaction of governmental, civil or military authority, fire, strike, lockout or other labor dispute, war, riot, theft, flood, earthquake or other natural disaster, breakdown of public or private or common carrier communications
or transmission facilities, or failure to act or delay resulted from such Party’s reasonable belief based upon the advice of its counsel that the action would have violated Law; provided that if such Party’s failure to act or delay
is pursuant to such advice of counsel, such Party shall immediately inform the other Party of such advice and shall propose for the other Party’s approval a commercially reasonable alternative to the
advised-against action (and any additional or increased expenses associated with such alternative) and shall take such alternative action upon the other Party’s approval and any additional or increased
expense shall be borne by the other Party. In any such event, the Recipient’s and the Service Provider’s obligations hereunder shall be postponed for such time as the performance is suspended or delayed on account of such event and the
Parties shall seek to promptly identify and implement a commercially reasonable alternative to minimize any interruption, delay or failure in the provision of the Services hereunder. Each of the Recipient and the Service Provider shall promptly
notify the other in writing upon learning of the occurrence of such event, such notice to provide reasonable detail as to the nature of such event, and each of the Recipient and the Service Provider will promptly use its commercially reasonable
efforts to resume its performance with the least practicable delay. 
 7.5 Specific Performance. The Parties agree that money damages
would not be an adequate remedy for any breach of the provisions of this Agreement, and any breach of the provisions of this Agreement would result in irreparable injury and damage for which no Party

  
 11 

 
would have an adequate remedy at law. Therefore, in the event of a breach or a threatened breach of the provisions of this Agreement, each Party, in addition to any other rights and remedies
existing in its favor at law or in equity, shall be entitled to specific performance or immediate injunctive or other equitable relief from a court of competent jurisdiction in order to enforce, or prevent any violations of, the provisions of this
Agreement (without posting a bond or other security), without having to prove damages. The terms of this Section 7.5 shall not prevent any Party from pursuing any other available remedies for any breach or threatened breach of this
Agreement. 
 ARTICLE VIII 

Miscellaneous 
 8.1
Shared Contracts; Etc.. With respect to any contracts of Kellwood or its Affiliates that are used in the operation of the Vince Business or any contracts of Vince or its Affiliates that are used in the operation of the Kellwood Business
(“Shared Contracts”), at the Recipient’s (which Recipient may be Kellwood or Vince) request, the Service Provider shall (and shall cause the applicable Affiliate to) use commercially reasonable efforts to assist the Recipient
to obtain the agreement of any Third Party to such Shared Contract to the entering into of a new Contract with the Recipient pursuant to which the Recipient or its designated Affiliates will have access to the supplies or services covered by, and
receive any other benefit conferred by, such Shared Contract with respect to the Vince Business or Kellwood Business, as applicable. To the extent the foregoing is not possible or practical or in the event that the Third Party does not agree to
enter into a new Contract with the Recipient or one of its designated Affiliates, at the Recipient’s request, the Parties shall, in each case to the extent permitted under the applicable Shared Contract, design an arrangement pursuant to which
the Recipient or its designated Affiliates will receive substantially all of the material rights and benefits (and will assume and discharge their proportionate share of the obligations or be invoiced for such amounts pursuant to Article III
and as further described below) of such Shared Contracts as may be received by the Vince Business or the Kellwood Business, as applicable, prior to the date hereof. Such an arrangement shall include the obligation of the Service Provider or the
applicable Affiliate to forward (where possible and practical) supplies or services, as the case may be, received from such Shared Contract with respect to the Vince Business or Kellwood Business, as applicable, to the Recipient or its designated
Affiliates in accordance with reasonable instructions from the Recipient, until the term of such Shared Contract terminates in accordance with its terms. The Recipient shall be invoiced by and reimburse the Service Provider or the applicable
Affiliate for its proportionate share of the reasonable out-of-pocket and third party costs incurred with respect such Shared Contracts. For example, if a the total amount owed to a third party under a Shared Contract is $1,000 per month by the
Service Provider and the Recipient receives 20% of the product, services or benefit of such Shared Contract the Recipient shall be invoiced by and reimburse the Service Provider in an amount equal to $200 per month. Further, after the date hereof,
Kellwood shall promptly (but in no event later than ten (10) days after receipt thereof) deliver to Vince any cash, checks or other property that it receives in connection with or relating to the Vince Business following the date hereof. After
the date hereof, Vince agrees to promptly (but in no event later than ten (10) days after receipt thereof) deliver to Kellwood any cash, checks or other property that it receives the Kellwood Business. 

  
 12 

 8.2 Independent Contractors. Except as otherwise agreed in writing in the Schedules by the
Parties, in the performance of the Services to be rendered hereunder, the Service Provider shall at all times act as an independent contractor, and is not in any respect an agent, attorney, employee, representative, joint venturer, partner or
fiduciary of the Recipient, and the Service Provider shall not declare or represent to any third party that the Service Provider is acting in any respect as agent, attorney, employee, representative, joint venturer or fiduciary of the Recipient.
Neither the Service Provider nor the Recipient shall have any power or authority to negotiate or conclude any agreement, or to make any representation or to give any understanding on behalf of the other in any way whatsoever. 

8.3 Employees. Individuals employed by the Service Provider, its Affiliates or any Third Party Service Provider who provide Services
shall in no respect be considered employees of the Recipient or any of its Affiliates. The Service Provider is an independent contractor and will have exclusive control and direction of its employees engaged in performing the Services hereunder. The
Service Provider assumes full responsibility for the payment of local, state, federal payroll, withholding taxes, severance obligations and termination costs for its employees engaged in the performance of Services hereunder. 

8.4 Intellectual Property. 

(a) Subject to the other terms and conditions of this Agreement and to the receipt of any required consents from the applicable third parties,
each Party hereby grants to the other Party a worldwide, non-exclusive, royalty-free license, with the right to sublicense, to make, have made, use, sell, offer for sale, import, copy, maintain, modify, enhance, and create derivative works of the
intellectual property of such property solely as necessary for the purpose of providing the Services under, in accordance with, and for the duration of, this Agreement. 

(b) Each Party acknowledges that, except as expressly provided for in this Section 8.4, it will acquire no right, title or
interest (including any license rights or rights of use) in any intellectual property which is owned or licensed by any other Party, by reason of the provision of the Services provided hereunder. No Party shall remove or alter any copyright,
trademark, confidentiality or other proprietary notices that appear on any intellectual property owned or licensed by the other Party, and each Party shall reproduce any such notices on any and all copies thereof. No Party shall attempt to
decompile, translate, reverse engineer or make excessive copies of any intellectual property owned or licensed by the other Party, and each Party shall promptly notify the other Party of any such attempt, regardless of whether by such would-be
notifying Party or any third party, of which such would-be notifying Party becomes aware. 
 8.5 Dispute Resolution. 

(a) Except as set forth in Section 7.5 , and except disputes under Section 3.5, any dispute between the Parties shall
be resolved as provided in this Section 8.5, which shall be the sole and exclusive procedure for the resolution of any such disputes. The Parties shall first attempt in good faith to resolve any dispute between them by negotiation. Any
Party may give the other Party written notice of any dispute not resolved in the normal course of business. Within ten (10) Business Days after receipt of such written notice, the receiving Party

  
 13 

 
shall submit to the other a written response. The notice and the response shall include a statement of each Party’s position, a summary of arguments supporting that position and any
supporting documentation. Within five (5) Business Days after receipt of the written response by the other Party, the Parties shall meet at a mutually agreeable time and place, and thereafter as often as they reasonably deem necessary, to
attempt to resolve the dispute. 
 (b) If the Parties are unable to resolve, or do not anticipate resolving, the dispute within thirty
(30) days (or such longer period as the Parties may agree) after notice of such dispute is received by the non-disputing Party, then the dispute shall be referred to executives at the Service Provider and the Recipient who have authority to
settle the dispute. Such executives shall attempt to resolve the dispute by good faith negotiation. 
 (c) If the Parties’ executives
are unable to resolve any dispute within ten (10) Business Days (or such longer period as the parties may agree) after such dispute is referred to them, the Parties shall undertake to promptly initiate mediation and to appoint an independent
mediator or, if the Parties cannot agree, the mediator shall be appointed by the American Arbitration Association office in New York, New York. Each Party shall bear its own costs of mediation and shall share equally the cost of the mediator and the
mediation proceedings. 
 8.6 Notices. All notices, requests, demands and other communications permitted or required to be given or
delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed conclusively to have been given (i) when personally delivered, (ii) when sent by facsimile (with hard copy to follow) during a
Business Day (or on the next Business Day if sent after the close of normal business hours or on any non-Business Day), (iii) when sent by electronic mail (with hard copy to follow) during a Business Day (or on the next Business Day if sent
after the close of normal business hours or on any non-Business Day), (iv) one (1) Business Day after being sent by reputable overnight express courier (charges prepaid), or (v) three (3) Business Day following mailing by
certified or registered mail, postage prepaid and return receipt requested. Unless another address is specified in writing, notices, requests, demands and communications to the Parties shall be sent to the addresses indicated below: 

 

							
		  	 if to Kellwood:

			
		  		    	 Kellwood Company, LLC
 600 Kellwood
Parkway
 Chesterfield, MO 63017

		  		    	Facsimile:	  	314-576-3388
		  		    	Attention:	  	General Counsel
		  		    	Email:	  	Keith.Grypp@Kellwood.com
		
		  	if to Vince:
			
		  		    	 Vince, LLC
 1441 Broadway – 6th
Floor
 New York, New York 10018

		  		    	Facsimile:	  	855-640-3896
		  		    	Attention:	  	General Counsel
		  		    	Email:	  	jdubiner@vince.com

  
 14 

 8.7 Successors and Assigns. Neither this Agreement nor the rights or obligations of the
Parties hereunder are assignable in whole or in part by either Party without the prior written consent of the other Party, which consent shall not be unreasonably withheld; provided that either Party may, without the consent of the other Party,
assign all or part of this Agreement to such Party’s lenders as collateral, such Party’s Affiliates or in connection with any transfer or disposition of all or any material portion of such Party’s business. 

8.8 Amendment and Waiver. 

(a) No failure or delay on the part of the Service Provider or the Recipient in exercising any right, power or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such right, power, or remedy preclude any other or further exercise thereof, or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative
and are not exclusive of any remedies that may be available to the Parties at law, in equity or otherwise. 
 (b) Any amendment,
supplement, or modification of or to any provision of this Agreement, any waiver of any provision of this Agreement, and any consent to any departure by any Party from the terms of any provision of this Agreement, shall be effective: (i) only
if it is made or given in writing and signed by all the Parties; and (ii) only in the specific instance and for the specific purpose for which made or given. 

8.9 Counterparts. This Agreement may be executed in any number of counterparts and by the Parties in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

8.10 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 8.11 Governing Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware
without regard to any conflict of law principles thereof. 
 8.12 Severability. If any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions
hereof shall not be in any way impaired, unless the provisions held invalid, illegal or unenforceable shall substantially impair the benefits of the remaining provisions hereof. 

8.13 Entire Agreement. This Agreement, together with the Schedules and exhibits hereto, are intended by the parties as a final
expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the Parties in respect 

  
 15 

 
of the subject matter contained herein and therein. There are no restrictions, promises, representations, warranties or undertakings relating to the subject matter hereof, other than those set
forth or referred to herein or therein. This Agreement, together with the Schedules and exhibits hereto, supersede all prior agreements and understandings between the Parties with respect to such subject matter. In the event of any conflict between
this Agreement, the Schedules, and the exhibits, the order of precedence shall be: this Agreement, the Schedules, and then the exhibits. 

8.14 Further Assurances. Each Party shall cooperate and use commercially reasonable efforts to take or cause to be taken all
appropriate actions and do, or cause to be done, all things necessary or appropriate to effectuate the provisions and purposes of this Agreement, including the execution of any additional documents or instruments and the taking of all such other
actions as a Party may reasonably be requested to be taken by the other Party from time to time, consistent with the terms of this Agreement. Vince shall use reasonable best efforts to remove or replace any guaranties, letters of credit or similar
instruments of Kellwood to the extent (and only to the extent) such instruments relate to assets owned by Vince. 
 8.15 Publicity.
Except as set forth in Section 5.1, no publicity release or announcement concerning this Agreement or the transactions contemplated hereby shall be issued without advance approval of the form and substance thereof by the Recipient and
the Service Provider. 

*        *        *       
 *        *        *        *        *        
* 

  
 16 

 IN WITNESS WHEREOF, each of the parties hereto, by its duly authorized representative, has
executed this Shared Services Agreement as of the Effective Date. 
  

			
	KELLWOOD COMPANY, LLC
		
	By:	 	 /s/ Keith A. Grypp

	Name:	 	Keith A. Grypp
	Title:	 	Senior Vice President, Secretary and
		 	General Counsel
	
	VINCE, LLC
		
	By:	 	 /s/ Jay L. Dubiner

	Name:	 	Jay L. Dubiner
	Title:	 	Senior Vice President, Secretary and
		 	General Counsel

 [Signature Page to Shared Services Agreement] 

 SCHEDULES TO SHARED SERVICES AGREEMENT 

See attached. 

 Functional Area: Building Services NY 

 

			
	Term:	  	Effective Date through 12/31/2014
		
	Service Provider:	  	Kellwood
		
	Service Recipient:	  	Vince
		
	Notice of Termination, Vince	  	Guaranteed Term through 7/31/2014, with 30 day notice of termination after 7/31/2014
		
	Management:	  	Kellwood SVP of Shares Services oversight with Vince Controller and Vince VP Finance
		
	Staffing:	  	Current staffing
		
	Assumptions:	  	 - Vince will move to its new space between August 1, 2014 and December 31, 2014.

- Vince CFO will continue to occupy the NY apartment through September 2014.

- Vince will be allocated 75% of the 1441 Broadway - NY Building Services expenses (exclusive of Kellwood Facilities Manager), and 100% of the NY apartment
rent and associated expenses.
 - Kellwood’s NY Facilities Manager will not be allocated to Vince.

		
	Services:	  	 1.      Access to and use of 6th Floor 1441 Broadway

2.      Utilities/Tax – 75%

3.      Access to and use of New York Apt

4.      Building Services Personnel (3) –75%

5.      Janitorial – 75%

6.      Office Supplies/Equip/Other – 75%

 Functional Area: Treasury 

 

					
	Service Provider:	  	Kellwood
		
	Service Recipient:	  	Vince
		
	Notice of Termination, Vince	  	30 days
		
	Management:	  	Kellwood Controller, Vince VP of Finance
			
	Staffing:	  	1.	  	Existing Kellwood employees (Treasury Analyst) –fractional FTE + supervision
			
	Assumptions:	  	1.	  	Kellwood and Vince operating on the same systems and same fiscal calendar
		  	2.	  	Vince utilizes Wells Fargo bank accounts
		  	3.	  	All actual banking fees and credit card processing fees charged directly to Vince
			
	Services:	  	1.	  	Daily cash balancing and applicable reporting
		  	2.	  	Funding payables, duty, and payroll accounts as directed by Vince VP of Finance
		  	3.	  	Repaying or borrowing on credit facility as needed.
		  	4.	  	Maintenance of on-line account access and bank account signers.
		  	5.	  	Transition/Train Vince Team on current systems used to obtain the required data.

 Functional Area: COI Finance 

 

					
	 Service Provider:
	 	Kellwood
		
	 Service Recipient:
	 	Vince
		
	 Notice of Termination, Vince
	 	 30 days

		
	 Management:
	 	Kellwood VP Finance and Vince Controller
		
	 Staffing:
	 	Includes partial FTE’s in the Kellwood inventory, FDC and Shared Service departments.
		
	 Assumptions:
	 	Assumes Vince will continue using Kellwood inventory, FDC and A/P systems
			
	Services:	 	1.      	 	Inventory Control – Monthly Cycle count for piece goods and finished goods for Vince inventory at COI location, includes quarterly shipping cutoff testing and resolving inventory issues.
		 	2.	 	FDC (Freight, Duty, Commission) variance processing – includes tracking and matching in the Kellwood FDC system and notification and resolution of costing variances in these categories.
		 	3.	 	Invoice handling/processing – Includes the receipt, entering, routing, and coding of A/P invoices as well as expediting/confirmation of payments and resolution of issues with Vince or supplier personnel.
		 	4.	 	Payroll for non-exempt Vince employees
		 	5.	 	Customer invoice processing including processing, printing, and mailing of daily invoices

 Functional Area: Corporate Accounting 

 

					
	Service Provider:	 	Kellwood
		
	Service Recipient:	 	Vince
		
	Notice of Termination, Vince	 	30 days
		
	Management:	 	Kellwood Controller and Vince Controller
			
	Staffing:	 	1.      	 	All existing Kellwood employees (Corp Accounting/External Reporting) – fractional FTE’s + supervision
			
	Assumptions:	 	1.	 	Kellwood and Vince operating on the same systems (whether the current systems or not), same fiscal calendar, same chart of accounts structure
		 	2.	 	Vince management assumes the responsibility for preparation and filing of required SEC documents.
			
	Services:	 	1.	 	Service Provider will provide assistance and training to Vince in gathering data and information to support Vince’s public company reporting requirements at the direction of Vince management.

 Functional Area: Tax 

 

					
		
	Term:	 	Effective Date through 12/31/2014
		
	Service Provider:	 	Kellwood
		
	Service Recipient:	 	Vince
		
	Notice of Termination, Vince	 	60 days
		
	Management:	 	Kellwood Tax Director; Vince Controller
			
	Staffing:	 	1.      	 	All existing Kellwood employees
		 	2.	 	Temporary staffing as Service Provider reasonably determines necessary; Kellwood will notify Vince if providing services through new third party or temporary staffing
			
	Assumptions:	 	1.	 	Kellwood and Vince operating on the same systems and the same fiscal calendar
		 	2.	 	Financial information needed to prepare tax filings will be available in the same format and within the same timeframe as it is currently available
		 	3.	 	Quarterly estimated income tax payments will continue to not be made in accordance with current practice
		 	4.	 	Payroll tax function will be included in a separate schedule
			
	Services:	 	1.	 	Preparation/filing of required sales tax returns
		 	2.	 	Preparation/filing of required NYC commercial rent tax returns
		 	3.	 	Preparation/filing of required franchise tax returns
		 	4.	 	Preparation/filing of required LLC tax returns
		 	5.	 	Preparation/filing of required property tax returns
			
		 	6.	 	Preparation/filing of required state annual reports
			
		 	7.	 	Respond to any notices from tax jurisdictions (excluding audit examinations)
		 	8.	 	Obtain sales tax licenses for new stores as needed
		 	9.	 	Preparation of periodic income tax accounting calculations and disclosures
		 	10.	 	Preparation/filing of required federal/state and local income tax returns
		 	11.	 	Management of audit examinations as necessary, to include providing audit examination support and defense under leadership and direction of Vince Management
		 	12.	 	Provide information requested by Vince personnel in support of Vince personnel obtaining and renewing business licenses

 Functional Area: Operational Accounting 

 

							
		
	Service Provider:	 	Kellwood
		
	Service Recipient:	 	Vince
		
	Notice of Termination, Vince	 	60 days
		
	Management:	 	Kellwood Controller and Vince Controller
			
	Staffing:	 	1.      	 	All existing Kellwood employees (Corporate/Divisional/General Accounting) – approx. 5 equivalent FTE’s
			
	Assumptions:	 	1.	 	Kellwood and Vince operating on the same systems (whether the current systems or not), same fiscal calendar, same Chart of Account structure
		 	2.	 	Service provider will provide training and transition to Vince employees
			
	Services:	 	1.	 	Service Provider will provide full cycle Accounting and reconciliation for Vince Business including:
		 		 	a.      	  	Wholesale inventory, accounts receivable, payroll, T&E, accounts payable and accrued or prepaid expenses, rent, PP&E, applicable taxes
		 		 	b.	  	Ecommerce credit card receivable, gift cards, accruals, applicable taxes
		 		 	c.	  	Retail Sales Audit and Inventory Matching Functions, cash reconciliation, accounts payable, accrued or prepaid expenses, credit card receivable, gift cards, rent, PP&E, applicable taxes
		 		 	d.	  	Intangible Assets monthly amortization
		 		 	e.	  	New debt agreements
		 		 	f.	  	Administration and reconciliation related to this Agreement
		 	2.	 	Monthly trial balances provided
		 	3.	 	Monthly reconciliations provided upon request
			
	Chargebacks:	 	1.	 	Actual credit card chargebacks as incurred for retail and ecommerce credit card transactions. Note these are already included in the monthly Vince P&Ls.

 Functional Area: Compensation & Benefits 

 

					
	Term:	 	Effective Date through 12/31/2014
		
	Service Provider:	 	Kellwood
		
	Service Recipient:	 	Vince
		
	Notice of Termination, Vince	 	30 days
		
	Management:	 	Management provided by Kellwood. Kellwood will coordinate with designated Vince SVP of Human Resources and Vince VP Finance
		
	Staffing:	 	Current Kellwood staffing
			
	Assumptions:	 	1.      	  	All services listed below are for Vince employees.
		 	2.	  	Vince employees can remain on all Kellwood benefit plans. Vince will not be allowed to make any benefit plan design changes (ie, different 401K match).
		 	3.	  	Vince will prefund the benefits expenses (employee withholdings and employer expense) on a bi-weekly bases. Kellwood will provide monthly reconciliation of the expenses.
		 	4.	  	Vince will be responsible for entering all employee information (ie, new hires, terminations, benefits, job changes, personal changes, PTO) directly in the HRIS system
			
	Services:	 	1.	  	Kellwood will provide employee benefit services and administration
		 	2.	  	Kellwood and Vince will work together to ensure that Vince employees who are eligible to participate in benefits will be included in Kellwood’s benefits plans to the extent such employees desire to participate. Kellwood will
be responsible for sending enrollment data to the carriers.
		 	3.	  	The benefit plans that are offered to Vince employees include, but are not limited to, health care, dental, vision, life insurance, LTD, AD&D, EAP services and 401K retirement savings accounts.
		 	4.	  	Kellwood will provide open enrollment materials and benefits communications to all Vince employees.
		 	5.	  	Kellwood will provide market pricing and compensation analysis support to Vince as reasonably requested.

 Functional Area: Payroll 

 

					
	Service Provider:	 	Kellwood
		
	Service Recipient:	 	Vince
		
	Management:	 	Management provided by Kellwood. Kellwood will liaison with Vince SVP of Human Resources and Vince Controller
			
	Assumptions:	 	      1.	    	All services listed below are for Vince employees
		 	2.	    	Vince employees can remain on Kellwood’s payroll system
		 	3.	    	Vince will have a separate Wells account for funding net pay, payroll taxes, and CTS tax filing charges and will fund the accounts as requested by Payroll.
		 	4.	    	Vince will be responsible for employee salaries.
		 	5.	    	Vince will be responsible for employer payroll tax liabilities.
		 	6.	    	Vince will be responsible for any one time setup fees and any recurring monthly charges that extend beyond payroll processing
		 	7.	    	Vince will be responsible for entering all employee information for Vince Wholesale (ie, new hires, terminations, benefits, job changes, personal changes, PTO) directly in the HRIS system
		 	8.	    	Vince will adhere to payroll processing deadlines including the Friday noon deadline for all new hires, terminations, benefits, job changes, personal changes and PTO updates and Monday noon deadline for timesheets.
		 	9.	    	Vince will be responsible for notifying Kellwood payroll 2 days in advance of any special payment situations including termination checks.
			
	Services:	 	1.	    	Kellwood will provide employee payroll services.
		 	2.	    	Kellwood will continue to provide payroll services which include biweekly payroll processing and distribution, the HRIS system, staffing, tax filing, garnishments, payroll reporting, W-2’s and general ledger
information.
		 	3.	    	Kellwood, with Vince approval, will be responsible for entering all employee information for Vince Retail (ie, new hires, terminations, benefits, job changes, personal changes, PTO) directly in the HRIS system.
		 	4.	    	Kellwood will assist with payroll audits under the leadership and direction of Vince management.

 Functional Area: Credit, Claims, Collections 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Management:
	  	Kellwood SVP of Shared Services and Vince Controller and Vince VP Finance
		
	 Staffing:
	  	5 Kellwood FTE’s
		
	 Assumptions:
	  	 1.      Kellwood processes all Credit, Collections, Payments and
Chargebacks
 2.      Credit limits and write-off limits TBD with Vince CFO

3.      All services provided will be performed on Kellwood’s business
applications
 4.      All banking fees will be directly charged from Vince bank
accounts
 5.      Vince’s accounts set up with Wells Fargo

		
	 Services:
	  	 Credit and Collections
  

1.      Manage and negotiate business terms of customer agreements including payment
 terms, excluding markdowns, per Vince instructions.
 2.      New customer setup
and maintenance per Vince instruction
 3.      Credit analysis for new and existing
customers
 4.      Manage International customer base and export insurance policy

5.      Manage credit hold process

6.      Process credit card payments for cash advance customers

7.      Manage online payment program

8.      Collect all open invoices, manage email invoice program

9.      Report all AR metrics including DSO, Collection Effectiveness, Chargebacks,
 Cash App, and Bad Debt Activity
 10.    Attend peer credit meetings to manage credit
exposure
 11.    Manage escheatment process for credits, including preparation of paperwork for
 escheatment filing.
  
 Chargebacks

 

1.      Challenge and recover deductions in all categories regardless of fault

2.      Prevent future chargebacks by partnering with DC, Sales, Customer Service and
 Customer
 3.      Advise Vince management on ways to reduce and prevent
chargebacks. Vince  management will meet directly with all customers.

4.      Process and key all deductions by reason code/GL

5.      Manage automated Sales Allowance process for advertising and markdowns

 
 Cash Application

 

1.      Post all payments from lockbox and wholesale credit card receipts

2.      Apply remittances to invoices, debit and credit memos

3.      Weekly reconciliation of cash applied to bank receipts.

4.      Manage wholesale credit card merchant Ids

 
 Forecasting

 

1.      Provide 6 week AR forecast for all customers based on open invoices and
 payment history on a weekly basis

 Functional Area: Accounts Payable/T&E Management 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination, Vince
	  	60 days
		
	 Management:
	  	Kellwood SVP of Shared Services oversight with Vince Controller
		
	 Staffing:
	  	 1.      1.2 Kellwood FTE (Accounts Payable)

2.      25% Kellwood FTE (Travel & Expense)

		
	 Assumptions:
	  	 1.      Kellwood processes all Accounts Payable functions

2.      Vince staff approves invoices for payment

3.      All services provided will be performed on Kellwood’s business
applications
 4.      All expenses to be paid out of Vince accounts at their
direction
 5.      Kellwood processes all T&E functions (excluding approvals)
until Vince has new  corporate card and travel provider
  

6.      Vince to use commercially reasonable efforts to implement a corporate card and
 travel provider for Vince Business
  

7.      Vince to prefund expenses to be paid to Wells Fargo or employees

		
	 Services:
	  	 Accounts Payable
  

1.      Manage vendor base and negotiate payment terms per Vince instruction

2.      New vendor setup, maintenance and revisions

3.      Ensure vendors comply with Foreign Corrupt Practices Act (FCPA)

4.      Manage Aspen including processing invoices, maintaining users and vendors and
 help desk
 5.      Execute all payments including checks, ACH, wires

6.      Manage Freight, Duty and Commission (FDC) process

7.      Banking reconciliation of AP, Duty and Tax accounts to bank statements

8.      Report all AP metrics including invoice count

9.      Manage escheatment process for credits, including preparation of paperwork for
 escheatment filing.
 10.    Issue 1099 at end of year

11.    Provide 6 week AP forecast for all customers based on open invoices and  payment
history on a weekly basis.
  
 Travel & Expense

 
 1.      Manage
corporate card issuance, cancellations and limits
 2.      Manage Concur automated
expense program for users
 3.      Audit expense report and charges in compliance
with Vince policy
 4.      Provide ad-hoc reporting on all metrics

5.      Coordinate payments to Wells and Vince employees

6.      Manage travel program with AMEX and Protravel

 Functional Area: Information Technology 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination, Vince
	  	180 days
		
	 Management:
	  	Management provided by Kellwood. Kellwood will liaison with designated IT contact at Vince
		
	 Staffing:
	  	Kellwood staffing leveraging internal and offshore resources.
		
	 Assumptions:
	  	 1.      There will be a single point of contact (for both Kellwood and
Vince) for IT  related issues
 2.      Vince will remain on all of the current
systems and platforms. Vince will  transition to NextGen environment in 2015.
  

3.      Any additional licenses that are procured for Vince will be purchased by Vince
 directly according to specifications provided by Service Provider.
  

4.      Communication Services (Data & Voice) will utilize the same carrier as
 Kellwood Any circuits that cannot be transferred to Vince will be procured  directly by Vince and managed under this service agreement.

		
	 Services:
	  	 1.      IT Administration

2.      Deskside support (PCs, Laptops, Mobile Devices and printers)

3.      Support Center (Security, logon and desktop application support)

4.      Communications Support and Management for Data, Voice, Wireless and
 Internet
 5.      Enterprise Application support for EBA, Oracle Financials,
EDI, Warehouse  Management, and Business Intelligence reporting and analysis tools

6.      Retail and Ecommerce Systems (back end interfaces only)

7.      Disaster recovery services

		
	 Transactional / Variable Fees:
	  	 1.      Telephone and cell phone usage/purchase charges – Per
usage
 2.      When resources are added temporarily to complete an approved work
request that  is beyond normal support, the work order will include an estimated cost, but the  billing will be based on the actual costs from new Kellwood resources or third  party providers.

 Monthly Fees: 
 The cost
of providing IT services is based on actual Kellwood employee costs or costs from third party providers for hardware and software, maintenance, shared circuits and services. The total costs (without depreciation) are allocated to all users of those
services based on formulas related to the percentage of total employees and percentage of total revenue. When there are adjustments to these costs, the allocation of these adjustments (either to increase or decrease charges) will be distributed
across all brands following the same allocation process used today. 

 Functional Area: Ecommerce & Digital Support 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination – Vince
	  	180 days
		
	 Management:
	  	Management will be shared by Kellwood/Vince. Main contact between the services will reside with Kellwood’s account manager and Vince’s Ecommerce Director. Both positions will need to be in place to service the
agreement.
		
	 Staffing:
	  	Approximately 10+ FTEs will provide backend support services and digital online marketing to Vince eCommerce that include backend operations, web development and systems support along with customer service, product photography as
well as email reporting and digital marketing support. These are not dedicated people. They are part of a shared service. Some staffing FTE’s will be variable as business volume increases or decreases (e.g. Customer Service).
		
	 Assumptions:
	  	 1.      Backend functions consist of order capture and processing,
return credit  processing, customer service, web-site & integrated system maintenance,  specifying web development and web updates as well as product photography and image loading to the site.

2.      Distribution – Pick / Pack / Ship – will be covered under a separate
 Schedule.
 3.      Campaign photography, retouching and product descriptions
and description  uploading will be done by Vince and will not be a Service.

4.      Product images for the website will be provided by the backend Kellwood
 team per style guide specifications provided by Vince.
 5.      Frontend
product publishing, site merchandising, pre-order order setup and  inventory release will be done by Vince and will not be a Service.

6.      The Kellwood backend operations team will be the liaison to Venda for site
 Support and any development needs.
 7.      There will be a single point of
contact (for both Kellwood and Vince). All  account directive approval and all final creative assets will be provided by  Vince Ecommerce Director. Any system, process or account issues will be  communicated directly to Kellwood
account manager.
 8.      Third party contracts related to platform and digital
marketing systems will  be managed as part of the backend operations team budget but costs related  to such contracts will be allocated to Vince proportionally and will vary if  new systems are needed. Kellwood to provide notice to
Vince of any change  in third party contracts.
 9.      Distribution / Shipping
/ Special Packaging will be included in a separate  Schedule. Free ground shipping and returns for the customer will be  considered a cost and thus paid by Vince.

10.    Any carry-over from the Vince new web-site development projects will be  handled as a
separate Vince Capital Project and will not be a Service.
 11.    Enhancements to the website
will only be performed by mutual consent of  Kellwood and Vince and are not a Service. Upon request, these will be  estimated and billed separately. Kellwood will provide the initial work  estimates by scoping and gathering business
requirements for feasibility and  budgetary estimates.
 12.    Photography studio will
manage all third party contracts (including stylists,  image processors, models, etc.), but expenses will be billed/allocated  directly to Vince for payment.

13.    Digital marketing budget will be set by Vince. The spend of the digital SEO/ SEM
marketing budget will be managed and allocated by Kellwood team.  Spend will be invoiced or allocated back directly to Vince.

14.    Kellwood will not manage, handle or deploy emails and these functions will  not be
Services. Kellwood will support email analytics and reporting.
 15.    Digital marketing does
not include affiliate marketing (and affiliate  marketing will not be a Service) If Vince chooses to launch an affiliate  marketing program, there may be one-time costs associated with the setup of  affiliate systems, analytics
tagging and any needed product feed  development.

			
	 Services:
	  	 1. Customer Order Fulfillment at COI – Kellwood System interfaces stay intact

2. Customer Service 9 - 6 ET M-F (excluding holidays) through email and phone

3. International Shipping to 120+ countries
 4. 7 x 24 technical
support for hosted site from Venda SLA.
 5. Venda Release Upgrades – up to 2 per year – May require IT Support

6. Lifestyle Content Refresh Monthly
 7. Mobile site.

8. Platform operations and systems support.
 9. Digital SEO/SEM
marketing services and email reporting.

		
	 Standard of Service/SLA
	  	 1. Website content updates - Assets and message received by Thursday will be updated within 2 weeks; if more than one approval cycle is
required, will be updated within 2 weeks of approval, with date being changed to reflect additional approval time needed.
 2. 99.5% Uptime as managed and
monitored by the Venda SASS agreement.

		
	 Monthly Fees
	  	Will be allocated to Vince and include system fees. All photography third party fees (e.g. models, image processes, stylists, etc.) and all digital marketing spend (e.g. Google Adwords) are not part of Fees and will be allocated or
billed back directly to Vince.
		
	 Transactional/Variable Fees
	  	3% Gross Sales (Credit Card Fees) billed monthly (Include web-site and Mobile)
		
	 Special Requests
	  	 1. Photo shoot for anything outside of ecommerce product publishing. $15,000 - 2-day photo shoot or $7,500 - 1-day photo shoot, does not
include third party services.
 2. All site enhancements and functional changes will be estimated and billed separately

3. Email creative preparation and deployment. $2,000 per email.

 Functional Area: Distribution, Storage, Fulfillment 

(Finished Goods, Wholesale and Ecommerce) 
  

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination, Vince:
	  	180 days
		
	 Management:
	  	Kellwood will provide management and oversight under direction of Vince
		
	 Staffing:
	  	 Kellwood will provide staffing based on forecasted processing requirements.

Vince will provide forecast of unit shipments each month to the weekly level. Both parties will agree to a weekly processing capacity in advance. This will be
the first Friday of each fiscal month. Processing requirements in excess of the agreed upon capacities may result in an overtime premium charge. Current straight time capacity is 17,500 units/day.

		
	 Assumptions:
	  	 1.      Kellwood existing warehouse management system will be used to
process  Distribution Center transactions.
  

2.      Freight contracts (including FedEx) are to be negotiated by Vince or its
 customers, and freight costs shall be the responsibility of Vince.
  

3.      Separate rates will be negotiated for any new product types or categories

 
 4.      Vince will
provide Kellwood with Policies and Procedures providing guidance  regarding: Inbound freight, Warehouse Handling, Inventory Management, Order  Management and Outbound freight. In the absence of any formal SOP, Kellwood  will continue
to process under general Kellwood guidelines.
  

5.      Any special storage requirements (e.g., seasonal rental of AC storage unit for
 furs) shall be the responsibility of Vince.

		
	 Services:
	  	 1.      Receipt of goods / put-away and entry into system

2.      Returns to vendor

3.      Pick/pack orders

4.      Application of labels and inserts

5.      Routing of shipments

6.      Outbound loading

7.      Shipment verification in system processing of customer returns

8.      Processing of all direct shipments.

9.      Annual physical inventory (Vince will pay for physical inventory)

10.    Customer Service inquiry response

 Functional Area: Piece Goods Warehousing 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination, Vince
	  	30 days
		
	 Management:
	  	Kellwood will provide management and oversight under direction of Vince
		
	 Staffing:
	  	Existing Kellwood staffing will be utilized
		
	 Assumptions:
	  	 1.      Services will be performed on Kellwood’s business
applications
 2.      Vince will provide Kellwood with Policies and Procedures
providing guidance  regarding: Inbound freight, Warehouse Handling, Inventory Management, etc. In  the absence of such, Kellwood will continue using policies and procedures  already set in practice.

3.      Vince will provide monthly forecast to level of receipts and expected
 disbursements by week. Vince and Kellwood will agree upon fabric receipts, QA,  and disbursement capacities at least one week in advance to insure proper  staffing levels are maintained.

		
	 Services:
	  	 1.      Receive fabric and tag at roll-level. Enter receipt into
system.
 2.      Perform industry standard QA inspection. Amount of fabric to be
inspected is  determined by Vince.
 3.      Cut shrink/wash test squares as
directed by Vince. Squares are given to Vince.
 4.      Store fabric in industry
standard conditions.
 5.      Disburse fabric for CMT work based on cut tickets
provided by Vince. Post roll  transactions to relieve inventory.

6.      Disburse additional fabric to cutting service or samples as required.

7.      RTV fabric to vendor as required.

8.      Manage annual physical inventory (Vince will pay for physical
inventory)

 Functional Area: Quality Control & Marking & Grading 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Staffing:
	  	 1.      6.5 FTE in COI for Quality Control

2.      1 FTE in COI for Marker Making & Grading

		
	 Assumptions:
	  	 Quality Control
  

1.      Vince will provide a TOP or Approval sample for every style and color.

2.      Vince will confirm the quality audit procedure and requirements to follow in
writing.
 3.      Vince will provide a monthly forecast of units to inspect with the
eta for all styles (Shipping status report).
  
 Marking and Grading

 
 1.      Vince will
provide a Yield request form.
 2.      Vince will provide the shrinkage(s) when
requesting grading and marker making.
 3.      Vince will provide a monthly forecast
of units to grade and/or make markers

		
	 Services:
	  	 Quality Control
  

1.      Kellwood will conduct final audits based on the agreed upon requirements.

2.      Kellwood will conduct 100% inspections when directed to by Vince. Kellwood will
provide detailed results (in writing and with photo’s) of the 100% inspection so Vince may issue a chargeback to their vendor if needed.

3.      Kellwood will not release any styles from Quality until receiving written
confirmation of approval from Vince (Director or above).
  
 Marking &
Grading
  

1.      Kellwood will provide a Yield report.

2.      Kellwood will provide a check or complete the grading.

3.      Kellwood will provide a marker report and a mini marker.

4.      Kellwood will continue to provide pattern equipment hardware support. Vince is
currently included on the Kellwood contracts and will need to be removed when the service agreement terminates.

 Functional Area: Office Services (COI/Wilshire) 

 

			
		
	 Service Provider:
	 	Kellwood
		
	 Service Recipient:
	 	Vince
		
	 Services:
	 	 1.      Driver (50%) and associated vehicle expenses.

2.      Mailroom clerk – 50% of time on Vince Retail supplies, equipment, etc

3.      Building Services manager provides purchasing, office supervision, store
 openings, samples, and equipment
 4.      Regular mail room services, FedEx,
sample shipping, etc..

 Functional Area: Human Resources 

 

			
		
	 Service Provider:
	  	Kellwood
		
	 Service Recipient:
	  	Vince
		
	 Notice of Termination, Vince
	  	30 days
		
	 Management:
	  	SVP HR Kellwood; VP HR – California and Retail; SVP HR Vince
		
	 Staffing:
	  	Current Kellwood staffing
		
	 Assumptions:
	  	 1.      Kellwood will provide HR Generalist and Recruiting support to
Vince
 2.      Kellwood employees will not provide advice or make decisions involving
the  hiring, disciplinary action, or termination of any Vince employee

3.      Kellwood employees will not provide any guidance or opinions on legal issues
 pertaining to Vince employees

		
	 Services:
	  	 1.      Kellwood team will provide HR administrative support: recruiting, sourcing, on- boarding,
data entry into the HRIS system (new hires, adjustments, terminations),  general assistance at direction of Vince management with HR/employee mattersEX-10.2

 Exhibit 10.2 
  

 
  

TAX RECEIVABLE AGREEMENT 
 by and
between 
 APPAREL HOLDING CORP. 

(F/K/A KELLWOOD HOLDING CORP.), 

THE STOCKHOLDERS 
 and 

THE STOCKHOLDER REPRESENTATIVE 

Dated as of November 27, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  
	DEFINITIONS	  
			
	Section 1.01	  	Definitions	  	 	1	  
	
	ARTICLE II	  
	DETERMINATION OF REALIZED TAX BENEFIT	  
			
	Section 2.01	  	Tax Benefit Utilization	  	 	7	  
	Section 2.02	  	Tax Benefit Schedule	  	 	7	  
	Section 2.03	  	Procedures, Amendments	  	 	7	  
	
	ARTICLE III	  
	TAX BENEFIT PAYMENTS	  
			
	Section 3.01	  	Payments	  	 	8	  
	Section 3.02	  	No Duplicative Payments; Intent	  	 	9	  
	
	ARTICLE IV	  
	TERMINATION	  
			
	Section 4.01	  	 Termination, Early Termination and Breach of Agreement
	  	 	9	  
	Section 4.02	  	Early Termination Notice	  	 	10	  
	Section 4.03	  	Payment upon Early Termination	  	 	11	  
	
	ARTICLE V	  
	LATE PAYMENTS	  
			
	Section 5.01	  	Late Payments by the Company	  	 	11	  
	
	ARTICLE VI	  
	COMPANY TAX MATTERS; CONSISTENCY; COOPERATION	  
			
	Section 6.01	  	 The Stockholder Representative Participation in Company Tax Matters
	  	 	11	  
	Section 6.02	  	Consistency	  	 	11	  
	Section 6.03	  	Cooperation	  	 	12	  
	
	ARTICLE VII	  
	MISCELLANEOUS	  
			
	Section 7.01	  	Notices	  	 	12	  
	Section 7.02	  	Counterparts	  	 	13	  
	Section 7.03	  	Entire Agreement; Third Party Beneficiaries	  	 	13	  
	Section 7.04	  	Governing Law	  	 	13	  

  
 i 

							
	Section 7.05	  	 Severability
	  	 	13	  
	Section 7.06	  	 Successors; Assignment; Amendments; Waivers
	  	 	13	  
	Section 7.07	  	 Titles and Subtitles
	  	 	14	  
	Section 7.08	  	 Waiver of Jury Trial
	  	 	14	  
	Section 7.09	  	 Reconciliation
	  	 	15	  
	Section 7.10	  	 Withholding
	  	 	15	  
	Section 7.11	  	 Affiliated Corporations; Admission of the Company into a Consolidated Group; Transfers of Corporate Assets
	  	 	16	  
	Section 7.12	  	 Confidentiality
	  	 	16	  
	Section 7.13	  	 Tax Treatment
	  	 	17	  
	Section 7.14	  	 Stockholder Representative
	  	 	17	  
	Section 7.15	  	 Headings
	  	 	18	  

  
 ii 

 TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (this “Agreement”), dated as of November 27, 2013, is hereby entered into by and
between Apparel Holding Corp., a Delaware corporation, formerly known as Kellwood Holding Corp. (the “Company”), the Stockholders (as defined herein) and Sun Cardinal, LLC, a Delaware limited liability company (along with any
successor as provided in Section 7.06), as the “Stockholder Representative”). Capitalized terms used herein have the definitions set forth in Section 1.01. 

RECITALS 
 WHEREAS, the
stockholders listed on Schedule A (the “Stockholders”) are the record owners of one-hundred percent (100%) of the Common Stock on the date hereof; 

WHEREAS, the Company intends to consummate the IPO; 

WHEREAS, the Company and certain of its present and former Subsidiaries have generated NOLs and Tax Credits prior to the IPO and will generate
certain Section 197 Intangible Deductions that the Company and its Subsidiaries will be entitled to utilize; 
 WHEREAS, if utilized,
the Pre-IPO Tax Benefits will reduce the actual liability for Taxes that the Company and its Subsidiaries might otherwise be required to pay; 

WHEREAS, subject to the completion of the IPO, the parties hereto desire to make certain arrangements with respect to the effect of the Pre-IPO Tax Benefits on the actual liability for Taxes of the Company and its Subsidiaries; 
 WHEREAS,
this Agreement is intended to provide payments to the Stockholders by the Company in an amount equal to eighty-five percent (85%) of the aggregate reduction in Taxes payable realized by the Company and
its Subsidiaries from the utilization of the Pre-IPO Tax Benefits; 
 NOW, THEREFORE, in
consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. 

As used in this Agreement, the terms set forth in this Article I shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined). 
 “Advisory Firm” means Ernst & Young,
and if Ernst & Young refuses or is unable to perform the requested services, Deloitte. If Deloitte refuses or is unable to perform the requested services, the Company and the Stockholder Representative shall negotiate in good faith to agree
upon a different valuation firm, which valuation firm shall not be one of the twenty largest accounting firms in the United States. 

 “Advisory Firm Letter” shall mean a letter from the Advisory Firm (or any other
“Big Four” accounting firm, including the Company’s third party tax return preparer) stating that the relevant schedule, notice or other information to be provided by the Company to the Stockholder Representative and all supporting
schedules and work papers were prepared in a manner consistent with the terms of this Agreement and, to the extent not expressly provided in this Agreement, on a reasonable basis in light of the facts and applicable law in existence on the date to
which such schedule, notice or other information relates. 
 “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. 

“Aggregate Tax Benefit Payment” is defined in Section 3.01(b) of this Agreement. 

“Agreed Rate” means a rate per annum equal to LIBOR plus 200 basis points. 

“Agreement” is defined in the preamble of this Agreement. 

“Amended Schedule” is defined in Section 2.03(b) of this Agreement. 

“Applicable Percentage” with respect to any Stockholder means the quotient, expressed as a percentage set forth opposite such
Stockholder’s name on Schedule A, obtained by dividing (i) the number of outstanding shares of Common Stock owned by such Stockholder immediately prior to the IPO by (ii) the aggregate number of shares of Common Stock issued and
outstanding immediately prior to the IPO. 
 “Board” means the board of directors of the Company. 

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of
the United States of America or the State of New York shall not be regarded as a Business Day. 
 “Change of Control” means
an event or series of events by which (i) the Company shall cease directly or indirectly to own 100% of the Capital Stock of Vince, LLC; (ii) any “person” or “group” (as such terms are used in Section 13(d) and
14(d) of the Securities Exchange Act), other than one or more Permitted Investors, shall be the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under
the Securities Exchange Act) of Capital Stock having more, directly or indirectly, than 35% of the total voting power of all outstanding Capital Stock of the Company in the election of directors, unless at such time the Permitted Investors are
direct or indirect “beneficial owners” (as so defined) of Capital Stock of the Company having a greater percentage of the total voting power of all outstanding Capital Stock of the Company in the election of directors than that owned by
each other “person” or “group” described above; (iii) for any reason whatsoever, a majority of the board of directors of the Company shall not be Continuing Directors; or (iv) a “Change of Control” (or
comparable term) shall occur under (x) any term loan or revolving credit facility of the Company or its subsidiaries or (y) any unsecured, senior, 

  
 2 

 
senior subordinated or subordinated Indebtedness of the Company or its subsidiaries, if, in each case, the outstanding principal amount thereof is in excess of $15,000,000. Defined terms used in
this definition shall have the meaning set forth in the Term Loan Credit Agreement as in effect on the date hereof. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Common Stock” means the issued and outstanding shares of common stock of the Company. 

“Company” is defined in the preamble of this Agreement. 

“Company Return” means the U.S. federal, state and local income tax returns of the Company and its Subsidiaries filed with
respect to Taxes of any Taxable Year, including, for the avoidance of doubt, any Consolidated Return. 
 “Confidential
Information” means all information of a confidential or proprietary nature (whether or not specifically labeled or identified as “confidential”), in any form or medium, that relates to the business, products, financial condition,
services, or research or development of either party or their respective suppliers, distributors, customers, independent contractors or other business relations. Confidential Information includes, but is not limited to, the following:
(i) internal business and financial information (including information relating to strategic and staffing plans and practices, business, finances, training, marketing, promotional and sales plans and practices, cost, rate and pricing structures
and accounting and business methods); (ii) identities of, individual requirements of, specific contractual arrangements with, and information about, either party’s suppliers, distributors, customers, independent contractors or other
business relations and their confidential information; (iii) trade secrets, know-how, compilations of data and analyses, techniques, systems, formulae, recipes, research, records, reports, manuals,
documentation, models, data and databases relating thereto; (iv) inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports and all similar or related information (whether or not patentable); and
(v) other intellectual property rights. Notwithstanding the foregoing, “Confidential Information” does not include (a) information that either party can demonstrate was or has become generally available to the public other
than as a result of disclosure by such party or its Affiliates, (b) information that is disclosed to a party or its Affiliates, other than under an obligation of confidentiality, by a third party who had no obligation not to disclose such
information to others or (c) information that is independently developed after the date hereof by a party or its Affiliates without the use of the other party’s or its Affiliates’ Confidential Information. 

“Consolidated Return” is defined in Section 7.11(a). 

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract or otherwise, and such “control” will be presumed if any Person owns 10% or more of the voting capital stock or other ownership interests, directly or
indirectly, of any other Person. 
 “Default Rate” means a rate per annum equal to LIBOR plus 500 basis points. 

  
 3 

 “Determination” has the meaning ascribed to such term in Section 1313(a) of
the Code or any other event (including the execution of a Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax. 

“Early Termination Agreement Date” is defined in Section 4.03(a) of this Agreement. 

“Early Termination Date” means the date of an Early Termination Notice for purposes of determining the Early Termination
Payment. 
 “Early Termination Notice” is defined in Section 4.02 of this Agreement. 

“Early Termination Option Notice” is defined in Section 4.01(c) of this Agreement. 

“Early Termination Payment” is defined in Section 4.03(b) of this Agreement. 

“Early Termination Rate” means a rate per annum equal to the Agreed Rate. 

“Early Termination Schedule” is defined in Section 4.02 of this Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Expert” is defined in Section 7.08 of this Agreement. 

“Interest Amount” is defined in Section 3.01(b) of this Agreement. 

“IPO” means the initial public offering of Common Stock of the Company pursuant to the Registration Statement. 

“IRS” means the U.S. Internal Revenue Service. 

“Law” means any federal, state, local or foreign statute, law, ordinance, regulation, rule, code, order, injunction,
judgment, determination, directive, ruling, decree, requirement or rule of law, or any other provision, decision or requirement having the force and effect of law. 

“LIBOR” means for each month (or portion thereof) during any period, an interest rate per annum equal to the rate of interest
published in The Wall Street Journal, Eastern Edition, two Business Days prior to the first day of such month as the “London Interbank Offered Rate” applicable to such month. In the event that The Wall Street Journal, Eastern Edition is
not published or such rate does not appear in The Wall Street Journal, Eastern Edition, LIBOR shall be determined by any other publicly available source of such market rate for London interbank offered rates for U.S. dollar deposits for such month
(or portion thereof). 
 “Net Tax Benefit” is defined in Section 3.01(b) of this Agreement. 

“Tax Benefit Payment” is defined in Section 3.01(b) of this Agreement. 

“NOLs” shall mean all net operating losses for U.S. federal, state and local income tax purposes. 

  
 4 

 “Non-Tax Benefit Tax Liability” means,
with respect to any Taxable Year, the liability for Taxes of the Company and its Subsidiaries using the same methods, elections, conventions and similar practices used on the relevant Company Return, but assuming that there were no Pre-IPO Tax Benefits. If all or any portion of the liability for Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of such Taxable Year, such liability shall not be included in
determining the Non-Tax Benefit Tax Liability unless and until there has been a Determination. 

“Objection Notice” is defined in Section 2.03(a) of this Agreement. 

“Payment Date” means any date on which a Tax Benefit Payment is required to be made by the Company pursuant to this
Agreement. 
 “Person” means any individual, corporation, firm, partnership, joint venture, limited liability company,
estate, trust, business association, organization, governmental entity or other entity. 

“Post-IPO Tax Benefits” shall mean Tax Credits and NOLs generated by the Company and
its Subsidiaries on or after November 28, 2013. 
 “Pre-IPO Tax Benefits”
shall mean Tax Credits and NOLs generated by the Company and its Subsidiaries prior to November 28, 2013, and the Section 197 Intangible Deductions. 

“Realized Tax Benefit” means, for a Taxable Year, the excess, if any, of (i) the
Non-Tax Benefit Tax Liability over (ii) the actual liability for Taxes of the Company and its Subsidiaries for such Taxable Year. If all or a portion of the actual liability for Taxes for the Taxable Year
arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination. 

“Reconciliation Dispute” is defined in Section 7.08 of this Agreement. 

“Reconciliation Procedures” means those procedures set forth in Section 7.08 of this Agreement. 

“Registration Statement” means the registration statement on Form S-1 (File No. 333-191336) of the Company, as amended. 
 “Schedule” means any Tax Benefit
Schedule and the Early Termination Schedule. 
 “Section 197 Intangible Deductions” means depreciation or amortization
deductions with respect to “amortizable section 197 intangibles” as defined in Section 197(c) and (d) of the Code, which such “amortizable section 197 intangibles” are held by the Company and its Subsidiaries
immediately after the IPO. 
 “Stockholders” is defined in the recitals to this Agreement. 

“Stockholder Representative” is defined in the preamble to this Agreement. 

  
 5 

 “Subsidiaries” means, with respect to any Person, as of any date of
determination, any other Person as to which such Person, owns, directly or indirectly, or otherwise controls more than fifty percent (50%) of the voting power or other similar interests or the sole general partner interest or managing member or
similar interest of such Person. 
 “Sun” means Sun Capital Partners, Inc. 

“Sun Entity” means Sun and any investment fund controlled by or under common control with Sun. 

“Tax Benefit Payment” is defined in Section 3.01(b) of this Agreement. 

“Tax Benefit Schedule” is defined in Section 2.02 of this Agreement. 

“Tax Credits” means U.S. federal, state and local tax credits that may be utilized to offset U.S. federal, state and local
income or alternative minimum Tax. 
 “Tax Return” means any return, declaration, report or similar statement required to
be filed with respect to Taxes (including any attached schedules), including, without limitation, any information return, claim for refund, amended return, and declaration of estimated Tax. 

“Taxable Year” means a taxable year as defined in Section 441(b) of the Code (and, therefore, for the avoidance of
doubt, may include a period of less than twelve months for which a Company Return is made), ending on or after the date hereof. For all purposes of this Agreement, the year 2013 shall consist of two “Taxable Years”
(i) February 3, 2013 through November 27, 2013 and (ii) November 28, 2013 through February 1, 2014. 

“Taxes” means any and all U.S. federal, state and local taxes, assessments or similar charges measured with respect to net
income or profits and any interest related to such Taxes. 
 “Taxing Authority” means any domestic, foreign, federal,
national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority
exercising regulatory authority with respect to Taxes. 
 “Term Loan Credit Agreement” means that certain Credit Agreement,
dated as of November 27, 2013, by and among Vince, LLC and Vince Intermediate Holding, LLC, as borrowers, Vince Holding Corp. as a guarantor, the lenders from time to time party thereto, and Bank of America, N.A., as administrative agent. 

“Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to time
(including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 
 “Valuation
Assumptions” means, as of an Early Termination Date, the assumptions that (i) in each Taxable Year ending on or after such Early Termination Date, the Company and its Subsidiaries will have taxable income sufficient to fully utilize
the Company’s and its Subsidiaries’ NOLs, Section 197 Intangible Deductions and other tax attributes (in accordance 

  
 6 

 
with all applicable limitations) during such Taxable Year or future Taxable Years, as applicable; (ii) the utilization of the Pre-IPO Tax Benefits for
such Taxable Year or future Taxable Years, as applicable, will be determined based on the Tax laws in effect on the Early Termination Date; and (iii) the federal, state and local Tax rates that will be in effect for each such Taxable Year will
be those specified for each such Taxable Year by the Code as in effect on the Early Termination Date. 
 ARTICLE II 

DETERMINATION OF REALIZED TAX BENEFIT 

Section 2.01 Tax Benefit Utilization. The Company, on the one hand, and the Stockholders, on the other hand,
acknowledge that the Company and its Subsidiaries may utilize the Pre-IPO Tax Benefits to reduce the amount of Taxes that the Company and its Subsidiaries would otherwise be required to pay in the future. 

Section 2.02 Tax Benefit Schedule. Within forty-five calendar days after the
filing of the Company Return for any Taxable Year, the Company shall provide to the Stockholder Representative a schedule showing, in reasonable detail, (i) the calculation, which may be $0.00, of the Realized Tax Benefit for such Taxable Year,
if any, (ii) the calculation, which may be $0.00, of any payment to be made to the Stockholders pursuant to Article III with respect to such Taxable Year (together, a “Tax Benefit Schedule”), and (iii) supporting
information (including work papers and valuation reports) reasonably necessary to support the calculation of such payment. The Schedule will become final as provided in Section 2.03(a) and may be amended as provided in
Section 2.03(b) (subject to the procedures set forth in Section 2.03(a)). 
 Section 2.03
Procedures, Amendments. 
 (a) Procedure. Every time the Company delivers to the Stockholder Representative
an applicable Schedule under this Agreement, including, except as otherwise provided in Section 2.03(b), any Amended Schedule delivered pursuant to Section 2.03(b), and including any Early Termination Schedule or amended
Early Termination Schedule, the Company shall also (x) deliver to the Stockholder Representative schedules, valuation reports, if any, and work papers providing reasonable detail regarding the preparation of the Schedule and an Advisory Firm
Letter with respect to such Schedule and (y) allow the Stockholder Representative and its advisors reasonable access, at no cost, to the appropriate representatives, books, records and work papers at each of the Company and the preparer of the
Advisory Firm Letter in connection with a review of such Schedule. The applicable Schedule shall become final and binding on all parties hereto upon mutual agreement of the parties hereto or final determination of the Expert pursuant to the
Reconciliation Procedures in Section 7.08. The applicable Schedule shall become final and binding on the parties hereto unless the Stockholder Representative, within forty-five calendar days after
receiving any Schedule or amendment thereto, provides the Company with notice of an objection to such Schedule (“Objection Notice”) made in good faith. The Company and the Stockholder Representative shall cooperate in good faith to
reconcile any items of disagreement set forth in the Objection Notice. If the parties, for any reason, are unable to successfully resolve the issues raised in any Objection Notice within thirty calendar days of receipt by the Company of such notice,
the Company and the Stockholder Representative shall employ the Reconciliation Procedures. 

  
 7 

 (b) Amended Schedule. The Schedule for any Taxable Year shall be amended by the Company
(i) in connection with a Determination affecting such Schedule, (ii) to correct material inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the
Schedule was provided to the Stockholder Representative, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, (iv) to reflect a material change (relative to the amounts in the original Schedule or the
prior Amended Schedule) in the Realized Tax Benefit for such Taxable Year attributable to a carryback or carryforward (including, to the extent affecting the Non-Tax Benefit Tax Liability, a hypothetical
carryback or carryforward attributable to any Post-IPO Tax Benefits) of a loss or other tax item to such Taxable Year, or (v) to reflect a material change (relative to the amounts in the original
Schedule) in the Realized Tax Benefit for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year (such Schedule, an “Amended Schedule”; provided, however, that such a change under clause
(i) attributable to an audit of a Tax Return by an applicable Taxing Authority shall not be taken into account on an Amended Schedule unless and until there has been a Determination with respect to such change). The Company shall provide any
Amended Schedule to the Stockholder Representative within thirty calendar days of becoming aware of the occurrence of an event referred to in clauses (i) through (v) of the preceding sentence (or, to the extent such event occurs in
connection with the preparation of a Company Return filing described in Section 2.02, concurrently with the delivery of the Tax Benefit Schedule with respect to such Company Return pursuant to Section 2.02) and any such
Amended Schedule shall be subject to the approval procedures described in Section 2.03(a); provided, however, that any Amended Schedule provided pursuant to an Expert’s determination under the Reconciliation Procedures as
described in clause (iii) of the preceding sentence shall be final and binding on all parties hereto and not subject to the approval procedures described in Section 2.03. 

ARTICLE III 
 TAX BENEFIT
PAYMENTS 
 Section 3.01 Payments. 

(a) Timing of Payments to the Stockholders. Within five Business Days of a Tax Benefit Schedule with respect to a Taxable Year becoming
final in accordance with Section 2.03(a) or Section 7.08, the Company shall pay to each of the Stockholders the Tax Benefit Payments for such Taxable Year determined pursuant to Section 3.01(b). Each such Tax
Benefit Payment shall be made by wire transfer of immediately available funds to a bank account designated by the applicable Stockholder to the Company or as otherwise agreed by the Company and the applicable Stockholder. For the avoidance of doubt,
no Tax Benefit Payment shall be made in respect of estimated tax payments, including, without limitation, estimated U.S. federal, state and local income tax payments. 

(b) The “Tax Benefit Payment” with respect to any Stockholder means an amount equal to such Stockholder’s Applicable
Percentage of the Aggregate Tax Benefit Payment. The “Aggregate Tax Benefit Payment” means an amount, not less than zero, equal to eighty-five percent (85%) of the sum of the Net Tax
Benefit (as defined below) and the Interest Amount (as defined below). The “Net Tax Benefit” with respect to a Taxable Year shall equal (i) the Realized Tax Benefit, if any, for such Taxable Year plus (ii) for each prior
Taxable Year, 

  
 8 

 
the excess, if any, of the Realized Tax Benefit reflected on an Amended Schedule applicable to such prior Taxable Year over the Realized Tax Benefit reflected on the original Tax Benefit Schedule
for such prior Taxable Year, minus (iii) for each prior Taxable Year, the excess, if any, of the Realized Tax Benefit reflected on the original Tax Benefit Schedule for such prior Taxable Year over the Realized Tax Benefit reflected on the
Amended Schedule for such prior Taxable Year; provided, however, that to the extent any of the adjustments described in Section 3.01(b)(ii) or (iii) was reflected in the calculation of the Aggregate Tax Benefit Payment for
any Taxable Year, such adjustments shall not be taken into account in determining the Aggregate Tax Benefit Payment for any subsequent Taxable Year; and provided, further, that for the avoidance of doubt, none of the Stockholders shall be required
to return any portion of any previously made Tax Benefit Payment except through the adjustment described in clause (iii) of the definition of Net Tax Benefit. The “Interest Amount” shall equal the interest on any Net Tax
Benefit calculated at the Agreed Rate from the due date (without extensions) for filing the Company Return with respect to Taxes for the Taxable Year for which the Net Tax Benefit is being measured until the Payment Date. Notwithstanding anything to
the contrary in this Agreement, for purposes of determining the amount of Pre-IPO Tax Benefits, the first Taxable Year to which this Agreement applies and the amount of any Tax Benefit Payments attributable to
2013, the parties agree to treat the year 2013 as consisting of two Taxable Years, (i) February 3, 2013 through November 27, 2013 and (ii) November 28, 2013 through February 1, 2014. 

Section 3.02 No Duplicative Payments; Intent. It is intended that the provisions of this Agreement will not result
in duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement provide that eighty-five percent (85%) of the
Company’s Realized Tax Benefit and Interest Amount for all years be paid to the Stockholders pursuant to this Agreement. Such amount shall be determined using a “with and without” methodology. Carryovers or carrybacks of
(a) any U.S. federal tax item shall be considered to be subject to the rules of the Code (or any successor U.S. federal income tax statute) and the Treasury Regulations or (b) any state and local tax item, shall be considered subject to
the appropriate provisions of Tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any Tax item includes a portion that is attributable to the Pre-IPO Tax Benefits and another portion that is not, the Company’s Realized Tax Benefit shall be determined using such “with and without” methodology. The provisions of this Agreement shall be
construed in the appropriate manner so that such intentions are realized. 
 ARTICLE IV 

TERMINATION 
 Section
4.01 Termination, Early Termination and Breach of Agreement 
 (a) This Agreement shall terminate on the earliest to occur of
(i) the date on which all Tax Benefit Payments have been made under this Agreement, (ii) the last day of the tax year including the tenth anniversary of the IPO or (iii) the mutual agreement of the Company and the Stockholder
Representative. 

  
 9 

 (b) Notwithstanding Section 4.01(a), the Company may terminate this Agreement by
paying to the Stockholders the Early Termination Payments. Upon payment of the Early Termination Payments by the Company, the Company shall not have any further payment obligations under this Agreement, other than any (i) Tax Benefit Payment
agreed to by the Company and the Stockholder Representative as due and payable but unpaid as of the date the Early Termination Notice is delivered and (ii) Tax Benefit Payment due for a Taxable Year ending prior to, with or including the date
of the Early Termination Notice (except to the extent that such amount is included in the Early Termination Payment). 
 (c) Notwithstanding
Section 4.01(a), the Stockholder Representative may terminate this Agreement in connection with a Change of Control The Company hereby agrees to provide ten (10) days prior written notice to the Stockholder Representative of a
Change of Control (an “Early Termination Option Notice”). Within five (5) days of receipt of the Early Termination Option Notice, the Stockholder Representative shall provide written notice of its determination whether to
require the Company to make the Early Termination Payments and terminate this Agreement. If the Stockholder Representative determines to require the Company to make the Early Termination Payments and terminate the Agreement in accordance with this
Section 4.01(c), then the Company shall make the Early Termination Payments in accordance with Section 4.03. Upon payment of the Early Termination Payments by the Company, the Company shall not have any further payment
obligations under this Agreement, other than any (i) Tax Benefit Payment agreed to by the Company and the Stockholder Representative as due and payable but unpaid as of the date the Early Termination Notice is delivered and (ii) Tax
Benefit Payment due for a Taxable Year ending prior to, with or including the date of the Early Termination Notice (except to the extent that such amount is included in the Early Termination Payment). For the avoidance of doubt, if the Early
Termination Payments have not been made by the date of the sale of all or substantially all of the assets of the Company, the Company shall cause such acquirer of all or substantially all of the assets of the Company to assume the Company’s
obligations under this Agreement. 
 (d) In the event that the Company breaches any of its material obligations under this Agreement by
operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code, then all obligations hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been
delivered on the date of the filing of such case and shall include, but not be limited to, (i) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of filing of such case, (ii) any Tax
Benefit Payment agreed to by the Company and the Stockholder Representative as due and payable but unpaid as of such date and (iii) any Tax Benefit Payment due for the Taxable Year ending prior to, with or including such date. 

Section 4.02 Early Termination Notice. If the Company or the Stockholder Representative chooses to exercise its
right of early termination under Section 4.01 above, the Company shall deliver to the Stockholder Representative, other than in the case of termination pursuant to Section 4.01(c) above, notice of such intention to exercise
such right (“Early Termination Notice”) and, including in the case of termination pursuant to Section 4.01(c) above, a schedule (the “Early Termination Schedule”) showing in reasonable detail the
information required pursuant to Section 2.02 and the calculation of the Aggregate Early Termination Payment. The delivery and finalization of such Early Termination Schedule shall be governed by Section 2.03 (including, for
the avoidance of doubt, in the case of termination pursuant to Section 4.01(c) above). 

  
 10 

 Section 4.03 Payment upon Early Termination. 

(a) Within five Business Days after the Early Termination Schedule becomes final and binding on the parties hereto, the Company shall pay to
the Stockholders the Early Termination Payment. Such payment shall be made by wire transfer of immediately available funds to a bank account designated by the applicable Stockholder or as otherwise agreed by the Company and such Stockholder. 

(b) The “Early Termination Payment” with respect to any Stockholder means an amount equal to such Stockholder’s
Applicable Percentage of the Aggregate Early Termination Payment. The “Aggregate Early Termination Payment” as of the date of the delivery of an Early Termination Schedule shall equal the present value, discounted at the Early
Termination Rate as of such date, of all Tax Benefit Payments that would be required to be paid by the Company to the Stockholders beginning from the Early Termination Date applying the Valuation Assumptions. For purposes of calculating the present
value pursuant to this Section 4.03(b) of all Tax Benefit Payments that would be required to be paid, it shall be assumed that absent the Early Termination Notice all Tax Benefit Payments would be paid on the due date (without
extensions) for filing the Company Return with respect to Taxes for each Taxable Year. 
 ARTICLE V 

LATE PAYMENTS 

Section 5.01 Late Payments by the Company. The amount of all or any portion of any Tax Benefit Payment or Early
Termination Payment required to be made by the Company to any Stockholder under this Agreement not made to such Stockholder when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate
and commencing from the date on which such payment was due and payable. 
 ARTICLE VI 

COMPANY TAX MATTERS; CONSISTENCY; COOPERATION 

Section 6.01 The Stockholder Representative Participation in Company Tax Matters. Except as otherwise provided
herein, the Company shall have full responsibility for, and sole discretion over, all Tax matters concerning the Company including without limitation the preparation, filing or amending of any Tax Return and defending, contesting or settling any
issue pertaining to Taxes, subject to a requirement that the Company act in good faith in connection with its control of any matter which is reasonably expected to affect the Stockholders’ rights and obligations under this Agreement.
Notwithstanding the foregoing, the Company shall notify the Stockholder Representative of, and keep the Stockholder Representative reasonably informed with respect to, the portion of any audit of the Company by a Taxing Authority the outcome of
which is reasonably expected to affect the Stockholders’ rights and obligations under this Agreement, and shall give the Stockholder Representative reasonable opportunity to provide information and participate in the applicable portion of such
audit. 
 Section 6.02 Consistency. Except upon the written advice of an Advisory Firm, the Company, the
Stockholder Representative and the Stockholders (through the Stockholder Representative) agree to report and cause to be reported for all purposes, including federal, state, 

  
 11 

 
local and foreign tax purposes and financial reporting purposes, all Tax-related items (including without limitation the Tax Benefit Payments) in a manner
consistent with that specified by the Company in any Schedule or statement required to be provided by or on behalf of the Company under this Agreement or under applicable Tax law. Any dispute concerning such advice shall be subject to the
Reconciliation Procedures; provided, however, that only the Stockholder Representative shall have the right to object to such advice pursuant to this Section 6.02. In the event that an Advisory Firm is replaced with another
firm acceptable to the Company and the Stockholder Representative pursuant to the definition of “Advisory Firm,” such replacement Advisory Firm shall be required to perform its services under this Agreement using procedures and
methodologies consistent with those used by the previous Advisory Firm, unless otherwise required by law (or the Company and the Stockholder Representative agree to the use of other procedures and methodologies). 

Section 6.03 Cooperation. Each of the Company, on the one hand, and the Stockholder Representative and the
Stockholders, on the other hand, shall (a) furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making or approving any determination or
computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority relating to this Agreement, (b) make itself available to the other
party and its representatives to provide explanations of documents and materials and such other information as the requesting party or its representatives may reasonably request in connection with any of the matters described in clause
(a) above, and (c) reasonably cooperate in connection with any such matter, and the requesting party shall reimburse the other party for any reasonable third-party costs and expenses incurred
pursuant to this Section 6.03. 
 ARTICLE VII 

MISCELLANEOUS 

Section 7.01 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing
and shall be deemed duly given and received (a) on the date of delivery if delivered personally, or by facsimile upon confirmation of transmission by the sender’s fax machine if sent on a Business Day (or otherwise on the next Business
Day), (b) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier service or (c) when sent by electronic mail (with hard copy to follow) during a
Business Day (or on the next Business Day if sent after the close of normal business hours or on any non-Business Day). All notices hereunder shall be delivered as set forth below, or pursuant to such other
instructions as may be designated in writing by the party to receive such notice: 
 If to the Company, to: 

Apparel Holding Corp. (f/k/a Kellwood Holding Corp) 

1441 Broadway – 6th Floor 

New York, New York 10018 

Facsimile: 855-640-3896 

Attn: Chief Executive Officer 

     General Counsel 

  
 12 

 If to the Stockholder Representative or any Stockholder, to: 

c/o Sun Capital Advisors V, L.P. 

5200 Town Center Circle, Suite 600 

Boca Raton, Florida 33486 

Facsimile: 561-394-0540 
 Attn: C.
Deryl Couch, Jason H. Neimark and Brian McGee 
 Any party hereto may change its address or fax number by giving the other party hereto
written notice of its new address or fax number in the manner set forth above. 
 Section 7.02 Counterparts. This
Agreement may be executed in one or more counterparts, all 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,
it being understood that all parties need not sign the same counterpart. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 7.03 Entire Agreement; Third Party Beneficiaries. This Agreement constitutes the entire agreement and
supersedes all prior agreements and understandings, both written and oral, among the parties hereto with respect to the subject matter hereof. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person other than
the parties hereto any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 Section 7.04
Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of Delaware, without regard to the conflicts of laws provisions thereof. 

Section 7.05 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as
to be effective and valid under applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable Law, such provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 Section 7.06 Successors;
Assignment; Amendments; Waivers. 
 (a) The Stockholder Representative may assign this Agreement to any
person without the prior written consent of the Company or the Stockholders. 
 (b) No Stockholder may assign his or her rights under this
Agreement without the prior written consent of the Stockholder Representative; provided, however, that the rights hereunder may be freely assigned without the consent of the Company or the Stockholder

  
 13 

 
Representative from one Stockholder to another Stockholder provided that the Company receives notice of such assignment within five days after the effective date of such assignment. Any
assignment of a Stockholder’s rights meeting the requirements of this paragraph shall be referred to herein as a “Permitted Assignment”. 

(c) Except as otherwise provided herein (including, without limitation, Section 7.06(a), Section 7.06(b),
Section 7.06(c) and Section 7.14), neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or delegated without the prior written consent of the other party hereto, such
consent not to be unreasonably withheld or delayed, and any purported assignment or delegation in violation hereof shall be null and void (it being agreed and understood that, in accordance with Section 7.14 a consent of the Stockholder
Representative shall be deemed to be a consent of, and shall be binding upon all of, the Stockholders); provided that any party hereto may assign its rights under this Agreement without the consent of any other party hereto, in whole but not
in part, to any Affiliate of such assigning party, to any lender as collateral security or in connection with any transfer or disposition of all or any material portion of such party’s business. 

(d) No provision of this Agreement may be amended unless such amendment is approved in writing by the Company and the Stockholder
Representative. For the avoidance of doubt, any amendment of this Agreement that is approved in writing by the Company and the Stockholder Representative shall be binding upon the Stockholders. No provision of this Agreement may be waived unless
such waiver is in writing and signed by the party against whom the waiver is to be effective. Notwithstanding anything contained herein to the contrary, the Stockholder Representative may, in its good faith discretion, amend Schedule A
without the consent of any other party hereto; provided that such amendment does not materially, adversely and disproportionately affect any Stockholder
vis-à-vis any other Stockholder. 
 (e) All of the
terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The
Company shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, by written agreement, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

Section 7.07 Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience
of reference only and are not to be considered in construing this Agreement. 
 Section 7.08 Waiver of Jury Trial.
EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING
OUT OF, RELATING TO OR IN CONNECTION WITH (I) THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (II) THE ACTIONS OF THE PARTIES IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY,
ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF. 

  
 14 

 Section 7.09 Reconciliation. In the event that the Company and the Stockholder
Representative are unable to resolve a disagreement with respect to the matters governed by Section 2.03, Section 4.02 and Section 6.02 (which matters, for the avoidance of doubt, may include the calculations of
any amounts set forth in any Schedule or Amended Schedule) within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally
recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner in a nationally recognized accounting firm or a law firm (other than the Advisory Firm or the
preparer of the Advisory Firm Letter), and the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Company or the Stockholder Representative or other actual or potential conflict of interest. If
the parties are unable to agree on an Expert within fifteen (15) days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise.
The Expert shall resolve any matter relating to the Early Termination Schedule or an amendment thereto within thirty calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen calendar days
or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a
disagreement is due or any Tax Return reflecting the subject of a disagreement is due, such payment shall be made on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Company, subject to adjustment (by an
increase or decrease in the amount of subsequent payments otherwise due under this Agreement) or amendment of such Tax Returns upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be
borne inversely based upon the relative success (in terms of percentages) of each party’s claims. For example, if the final determination reflects a 60-40 compromise of the parties’ claims, the costs
and expenses would be allocated 40% to the party whose claim was determined to be 60% successful and 60% to the party whose claim was determined to be 40% successful. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning
of this Section 7.08 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.08 shall be binding on the Company and all
Stockholders and may be entered and enforced in any court having jurisdiction. The determination of the Expert with respect to any dispute that is submitted to it for determination pursuant to this Section 7.08 shall be based solely on
presentations and materials provided by the parties hereto which are in accordance with the guidelines and procedures set forth in this Agreement (i.e., such determination shall not be made on the basis of an independent review by the
Expert). The Expert shall not assign a value to any Reconciliation Dispute that is greater than the greatest value for such item assigned by the Company, on the one hand, or the Stockholder Representative, on the other hand, or less than the
smallest value for such assigned by the Company, on the one hand, and The Stockholder Representative, on the other hand. 

Section 7.10 Withholding. The Company shall be entitled to deduct and withhold from any amount payable to any
Stockholder pursuant to this Agreement such amounts as the Company is required to deduct and withhold under the Code or any provision of state, local or 

  
 15 

 
foreign tax law, with respect to entering into or making payments under this Agreement. To the extent that amounts are so withheld and paid over to the appropriate governmental authority by the
Company, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Stockholder in respect of whom such withholding was made. The Company shall provide evidence of such payment to such Stockholder. To the
extent the amount of any withholding hereunder cannot be finally determined until after the end of the taxable year in which the amount otherwise payable to such Stockholder pursuant to this Agreement is required to be paid, the Company shall be
entitled to deduct and withhold the maximum amount of tax that, in the Company’s reasonable judgment, may be required to be remitted to the applicable government authority with respect to such Stockholder, and after the applicable amount of
withholding is finally determined, the Company shall promptly pay over any excess withheld amounts to such Stockholder. 

Section 7.11 Affiliated Corporations; Admission of the Company into a Consolidated Group; Transfers of Corporate
Assets. 
 (a) If the Company was, is or becomes a member of an affiliated, combined, unitary or consolidated group of
corporations that files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code or any comparable provision of applicable state or local Tax law (a “Consolidated Return”): (i) the provisions of this
Agreement relating to the Company shall be applied with respect to the group as a whole as of any date of determination; and (ii) Tax Benefit Payments shall be computed with reference to the consolidated taxable income of the group as a whole.

 (b) If any Person the income of which is included in the income of the Company’s affiliated or consolidated group transfers one or
more assets to a corporation or any Person treated as such for Tax purposes with which such entity does not file a consolidated tax return pursuant to Section 1501 of the Code, for purposes of calculating the amount of any Tax Benefit Payment
(e.g., calculating the gross income of the Company’s affiliated or consolidated group and determining the Realized Tax Benefit) due hereunder, such Person shall be treated as having disposed of such asset in a fully taxable transaction on the
date of such transfer. The consideration deemed to be received by such entity shall be determined as if such transfer occurred on an arm’s-length basis with an unrelated third party. 

Section 7.12 Confidentiality. 

(a) Each party shall maintain in strict confidence and shall not disclose to any third party (except to its Affiliates in connection with
performing any duties as necessary for the other party hereunder) any and all Confidential Information, except as may be necessary in order to comply with a requirement of Law, in which case the receiving party shall, if permissible, promptly notify
the disclosing party of any such requirement and such disclosing party shall be permitted to seek confidential treatment for such information; provided that any party hereto or its Affiliates may disclose the terms of this Agreement in any
registration statement relating to the IPO. 

  
 16 

 (b) With respect to any such Confidential Information, each of the parties hereto shall:
(i) use the same degree of care in safeguarding the other party’s Confidential Information as it uses to safeguard its own information which is proprietary and/or treated as confidential; and (ii) upon the discovery of any inadvertent
disclosure or unauthorized use of the Confidential Information, or upon obtaining notice of such disclosure or use from the other party, take or cause to be taken all necessary actions to prevent any further inadvertent disclosure or unauthorized
use. 
 Section 7.13 Tax Treatment. Each Stockholder, the Stockholder Representative and the Company agree that by
entering into this Agreement, each Stockholder is receiving a distribution in an amount equal to the fair market value of its rights under this Agreement, as jointly determined by the Company and the Stockholder Representative, and that such
distribution is subject to Section 301 of the Code for U.S. federal income tax purposes and any similar or comparable state law provision for state tax purposes. Each such party shall file all Tax Returns in accordance with such treatment
described in the previous sentence, unless otherwise required by a “determination” within the meaning of Section 1313 of the Code. 

Section 7.14 Stockholder Representative. 

(a) Appointment. Without further action of any of the Company, the Stockholder Representative or any Stockholder, and as partial
consideration of the benefits conferred by this Agreement, the Stockholder Representative is hereby irrevocably constituted and appointed, with full power of substitution, to act in the name, place and stead of each Stockholder with respect to the
taking by the Stockholder Representative of any and all actions and the making of any decisions required or permitted to be taken by the Stockholder Representative under this Agreement. The power of attorney granted herein is coupled with an
interest and is irrevocable and may be delegated by the Stockholder Representative. No bond shall be required of the Stockholder Representative, and the Stockholder Representative shall receive no compensation for their services. 

(b) Expenses. If at any time a Stockholder Representative shall incur out of pocket expenses in connection with the exercise of its
duties hereunder, upon written notice to the Company from the Stockholder Representative of documented costs and expenses (including fees and disbursements of counsel and accountants) incurred by the Stockholder Representative in connection with the
performance of its rights or obligations under this Agreement and the taking of any and all actions in connection therewith, the Company shall reduce any future payments (if any) due to the Stockholders hereunder pro rata (based on their respective
Applicable Percentages) by the amount of such expenses which it shall instead remit directly to the requesting Stockholder Representative. In connection with the performance of its rights and obligations under this Agreement and the taking of any
and all actions in connection therewith, a Stockholder Representative shall not be required to expend any of its own funds (though, for the avoidance of doubt, it may do so at any time and from time to time in its sole discretion). 

(c) Limitation on Liability. The Stockholder Representative shall not be liable to any Stockholder for any act of the Stockholder
Representative arising out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent any liability, loss, damage, penalty, fine, cost or expense is actually incurred by such Stockholder as a
proximate result of the gross negligence, bad faith or willful misconduct of the Stockholder Representative (it being understood that any act done or omitted pursuant to the advice of legal 

  
 17 

 
counsel shall be conclusive evidence of such good faith and reasonable judgment). The Stockholder Representative shall not be liable for, and shall be indemnified by the Stockholders (on a
several but not joint basis) for, any liability, loss, damage, penalty or fine incurred by the Stockholder Representative (and any cost or expense incurred by the Stockholder Representative in connection therewith and herewith and not previously
reimbursed pursuant to subsection (b) above) arising out of or in connection with the acceptance or administration of its duties under this Agreement, except to the extent that any such liability, loss, damage, penalty, fine, cost or expense is
the proximate result of the gross negligence, bad faith or willful misconduct of the Stockholder Representative (it being understood that any act done or omitted pursuant to the advice of legal counsel shall be conclusive evidence of such good faith
and reasonable judgment); provided, however, in no event shall any Stockholder be obligated to indemnify the Stockholder Representative hereunder for any liability, loss, damage, penalty, fine, cost or expense to the extent (and only to the extent)
that the aggregate amount of all liabilities, losses, damages, penalties, fines, costs and expenses indemnified by such Stockholder hereunder is or would be in excess of the aggregate payments under this Agreement actually remitted to such
Stockholder. 
 (d) Actions of the Stockholder Representative. A decision, act, consent or instruction of the Stockholder
Representative shall constitute a decision of all Stockholders and shall be final, binding and conclusive upon each Stockholder, and the Company may rely upon any decision, act, consent or instruction of the Stockholder Representative as being the
decision, act, consent or instruction of each Stockholder. The Company is hereby relieved from any liability to any person for any acts done by the Company in accordance with any such decision, act, consent or instruction of the Stockholder
Representative. Each Stockholder hereby agrees that the Stockholder Representative may, at any time and in its sole discretion, elect to enter into a transaction which is likely to result in the assignment, in whole or in part, of this Agreement to
a Person (upon such election, an “Approved Assignment”), and each such Stockholder will raise no objections against such Approved Assignment, regardless of the consideration (if any) being paid in such Approved Assignment, so long
as such Approved Assignment does not materially and adversely impact such Stockholders in a manner materially adverse to the other Stockholders. Each Stockholder will take all actions requested by Stockholder Representative in connection with the
consummation of an Approved Assignment, including the execution of all agreements, documents and instruments in connection therewith requested by Stockholder Representative of such Stockholder. Upon the consummation of the Approved Assignment, each
Stockholder will receive their Applicable Percentage of such consideration, if any, relating to such Approved Assignment. Stockholders will bear their Applicable Percentage of the costs of any Approved Assignment to the extent such costs are
incurred for the benefit of all Stockholders. 
 (e) Involvement in Company Determinations. In the event that any determination must
be made under this Agreement by the Stockholder Representative or any dispute arises hereunder, should any representatives of the Stockholder Representative or their Affiliates then be serving on the Board, such directors shall be excluded from all
deliberations and actions of the Board related to such determination or dispute. 
 Section 7.15 Headings. The headings
in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

*        *        *       
 *        *        *        *        *        
* 

  
 18 

 IN WITNESS WHEREOF, the Company, the Stockholder Representative and the Stockholders have duly
executed this Agreement as of the date first written above. 
  

			
	 APPAREL HOLDING CORP.
 (F/K/A
KELLWOOD HOLDING CORP.)

		
	By:	 	 /s/ Jay L. Dubiner

	Name:	 	Jay L. Dubiner
	Title:	 	 Senior Vice President, Secretary and
 General
Counsel

	
	SUN CARDINAL, LLC, AS STOCKHOLDER REPRESENTATIVE
		
	By:	 	 /s/ Michael J. McConvery

	Name:	 	Michael J. McConvery
	Title:	 	Vice President and Assistant Secretary
	
	SUN CARDINAL, LLC
		
	By:	 	 /s/ Michael J. McConvery

	Name:	 	Michael J. McConvery
	Title:	 	Vice President and Assistant Secretary
	
	SCSF CARDINAL, LLC
		
	By:	 	 /s/ Michael J. McConvery

	Name:	 	Michael J. McCovnery
	Title:	 	Vice President and Assistant Secretary

 [Signatures Continue Next Page] 

Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Company, the Stockholder Representative and the Stockholders have duly
executed this Agreement as of the date first written above. 
  

			
	H.I.G. SUN PARTNERS, LLC
		
	By:	 	 /s/ Richard Siegel

	Name:	 	Richard Siegel
	Title:	 	Authorized Signatory

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Company, the Stockholder Representative and the Stockholders have duly
executed this Agreement as of the date first written above. 
  

			
	DAVID FALWELL
		
	By:	 	 /s/ David Falwell

 Signature Page to Tax Receivable Agreement 

 Schedule A 

STOCKHOLDERS 
 Sun Cardinal, LLC - 74.8345% 
 SCSF Cardinal, LLC - 24.9449% 

H.I.G. Sun Partners, LLC - 0.0210% 

David Falwell - 0.1996% 

Schedules A to Tax Receivable Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]