Document:

Exhibit 10(b)

 

FIRST AMENDMENT

 

This FIRST AMENDMENT dated as of December 19, 2012 (this “Amendment”) amends the Fifth Amended and Restated Credit Agreement dated as of June 30, 2011 (the “Credit Agreement”) among REGIS CORPORATION, a Minnesota corporation (the “Company”), various financial institutions and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).  Capitalized terms used but not defined herein have the respective meanings given to them in the Credit Agreement.

 

WHEREAS, the Company has requested that the Credit Agreement be amended as set forth herein.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.                            AMENDMENTS.  Subject to the conditions precedent set forth in Section 3, the Credit Agreement is amended as follows:

 

1.1                               Amendment to Section 1.01.  The definition of “Net Worth” in Section 1.01 is deleted in its entirety.

 

1.2                               Amendment to Section 8.01(i).  Section 8.01(i) is amended in its entirety to read as follows:

 

“(i)                               other Liens securing Indebtedness that does not exceed in the aggregate at any one time outstanding $20,000,000; provided that such Liens may not secure the Note Agreement”.

 

1.3                               Amendment to Section 8.04(e).  Section 8.04(e) is amended in its entirety to read as follows:

 

“(e)                            other Investments (excluding Permitted Acquisitions but including Investments in Joint Ventures) in addition to the foregoing Investments permitted by this Section 8.04; provided that (i) the total amount of Investments permitted under this Section 8.04(e) does not exceed in the aggregate at any one time outstanding the greater of (1) $200,000,000 and (2) the product of 35% and the difference between (x) consolidated tangible assets of the Company and its consolidated Subsidiaries and (y) the aggregate amount of Investments of the Company and its consolidated Subsidiaries not otherwise permitted by any of clauses (a) through (d) above, in each case as set forth in the most recently delivered Compliance Certificate pursuant to Section 7.02(a) and (ii) the aggregate amount of such Investments made in or to Persons that are not in the same or similar line of business in which the Company and its Subsidiaries are engaged as of the Effective Date shall not exceed one-third of the amount determined pursuant to the foregoing clause (i)”.

 

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1.4                               Amendment to Section 8.05(g).  Section 8.05(g) is amended in its entirety to read as follows:

 

“(g)                            other Indebtedness incurred by the Company or any Subsidiary from time to time; provided that after giving effect to such Indebtedness, (i) Section 8.14 would not be violated (as determined on a pro forma basis as of the last day of the previous fiscal quarter) and (ii) the aggregate outstanding amount of such Indebtedness of Subsidiaries that are not Guarantors shall not at any time exceed 9.5% of consolidated tangible assets of the Company and its consolidated Subsidiaries as set forth in the most recently delivered Compliance Certificate pursuant to Section 7.02(a)”.

 

1.5                               Amendment to Section 8.08(e).  Section 8.08(e) is amended in its entirety to read as follows:

 

“(e)                            other Contingent Obligations (other than L/C Obligations) of the Company and its Subsidiaries not to exceed in the aggregate at any one time outstanding the greater of (i) $60,000,000 and (ii) 7% of consolidated tangible assets of the Company and its consolidated Subsidiaries as set forth in the most recently delivered Compliance Certificate pursuant to Section 7.02(a)”.

 

1.6                               Amendment to Section 8.16.  Section 8.16 is amended in its entirety to read as follows:

 

“8.16                  [RESERVED.]”.

 

1.7                               Amendment to Section 8.18.  Section 8.18 is amended in its entirety to read as follows:

 

“8.18                  Restricted Payments.  The Company shall not, and shall not permit any Subsidiary to, (i) declare or pay any dividend or make any other distribution (whether in cash, securities or other property) on any of its stock or other equity interests or any warrants, options or other rights with respect thereto (any of the foregoing, “Equity Interests”) or (ii) purchase, redeem or otherwise acquire for value any of its Equity Interests, excluding any purchase or redemption of any obligations of the Company with respect to the convertible notes (due 7/14/14) described on Schedule 8.05 (x) upon the maturity thereof or (y) at the option of the holder thereof, in each case so long as no Default or Event of Default exists or would result therefrom (any such non-excluded declaration, payment, distribution, purchase, redemption or other acquisition, a “Restricted Payment”); provided that:

 

(a)                                 any Subsidiary may declare and pay dividends, and make other distributions, to the Company or any other Subsidiary;

 

(b)                                 the Company may declare and pay stock dividends; and

 

(c)                                  so long as no Default or Event of Default exists, the Company and its Subsidiaries may make other Restricted Payments; provided that (1) if the Leverage Ratio as of the last day of the most recently ended fiscal quarter was greater than 2.50 to 1.0,

 

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then neither the Company nor any Subsidiary will make any Restricted Payment pursuant to this clause (c) if, after giving effect thereto, the aggregate amount of all such Restricted Payments made during the 12-month period ending on the date of such Restricted Payment would exceed $25,000,000 and (2) the aggregate amount of all such Restricted Payments made on or after December 19, 2012 other than Ordinary Dividends would not exceed $100,000,000.  For purposes hereof, “Ordinary Dividends” shall mean normal, ordinary course, recurring dividends made by the Company on any of its Equity Interests and shall not include special, non-recurring distributions.”

 

SECTION 2.                            Representations and Warranties.  The Company represents and warrants to the Administrative Agent and the Lenders that as of the date of effectiveness of this Amendment (and after giving effect to such effectiveness): (a) the representations and warranties of the Company set forth in the Credit Agreement are true and correct in all material respects (except to the extent stated to relate to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date); and (b) no Default or Event of Default exists.

 

SECTION 3.                            CONDITIONS PRECEDENT.  This Amendment shall become effective on the date on which the Administrative Agent has received the following:

 

(a)                                 Counterparts of this Amendment signed by the Company and the Required Lenders.

 

(b)                                 A Confirmation substantially in the form of Exhibit A signed by each Loan Party.

 

(c)                                  An amendment fee of $5,000 for each Lender that, on or prior to 2:00 p.m. (Chicago time) on September 28, 2012, delivers a signed counterpart of this Amendment to the Administrative Agent.

 

(d)                             Payment of all invoiced fees and expenses of the Administrative Agent (including reasonable attorneys’ fees and expenses).

 

(e)                                  Evidence that the Note Agreement has been amended in a manner consistent with the amendments set forth herein and otherwise reasonably satisfactory to the Administrative Agent.

 

SECTION 4.                            MISCELLANEOUS.

 

4.1                               Expenses.  The Company agrees to pay all reasonable out-of-pocket expenses incurred by the Administrative Agent (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent) in connection with this Amendment and the transactions contemplated hereby.

 

4.2                               Incorporation of Credit Agreement Provisions.  The provisions of Sections 1.02 (Other Interpretive Provisions), 11.14 (Severability) and 11.17 (Waiver of Jury Trial) of the Credit Agreement are incorporated by reference as if fully set forth herein, mutatis mutandis.

 

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4.3                               Signing in Counterparts.  This Amendment may be signed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.  A signature hereto delivered by facsimile or in .pdf format shall be effective as delivery of an original counterpart.

 

4.4                               Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS.

 

4.5                               Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

4.6                               Effect of Amendment.  Except as expressly set forth herein, this Amendment shall not (a) limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document or (b) alter, modify or amend any term or condition set forth in the Credit Agreement or any other Loan Document.

 

[Remainder Of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be signed by their respective officers thereunto duly authorized as of the day and year first above written.

 

 

	
 
    	
REGIS   CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Steven Spiegel
    
	
 
    	
 
    	
Steven   Spiegel
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

S-1

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   Administrative Agent, as an Issuer, as Swing Line Lender and as a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Krys Szremski
    
	
 
    	
Title:
    	
Vice   President
    

 

S-2

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Syndication Agent, as an Issuer and as a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Steven K. Kessler
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

S-3

 

	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD. as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christine Howatt
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

S-4

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ludmila Yakovlev
    
	
 
    	
 
    	
Name:
    	
Ludamila   Yakovlev
    
	
 
    	
 
    	
Title:
    	
AVP
    

 

S-5

 

	
 
    	
WELLS   FARGO BANK, N.A., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
/s/   Peter Kiedrowski
    
	
 
    	
By:
    	
Peter   Kiedrowski
    
	
 
    	
Title:
    	
Director
    

 

S-6

 

	
 
    	
FIFTH   THIRD BANK, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christopher Motley
    
	
 
    	
Name:
    	
Christopher   Motley
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

S-7

 

	
 
    	
PNC   BANK, NATIONAL ASSOCIATION, as a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Philip K. Liebscher
    
	
 
    	
 
    	
Philip   K. Liebscher
    
	
 
    	
Title:
    	
Senior   Vice President
    
				

 

S-8

 

	
 
    	
ROYAL   BANK OF CANADA, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jennifer Lee-You
    
	
 
    	
Name:
    	
Jennifer   Lee-You
    
	
 
    	
Title:
    	
Attorney-In-Fact   (New York)
    

 

S-9

 

EXHIBIT A

 

FORM OF CONFIRMATION

 

December 19, 2012

 

To:          JPMorgan Chase Bank, N.A., individually and as Administrative

Agent, and the other financial institutions that are

parties to the Credit Agreement referred to below

 

Please refer to the First Amendment dated as of the date hereof (the “Amendment”) to the Fifth Amended and Restated Credit Agreement dated as of June 30, 2011 (the “Credit Agreement”) among Regis Corporation, a Minnesota corporation, various financial institutions and JPMorgan Chase Bank, N.A., as Administrative Agent.  Capitalized terms used but not otherwise defined herein have the respective meanings given to them in the Credit Agreement.

 

Each of the undersigned hereby confirms to the Administrative Agent and the Lenders that such undersigned has received a copy of the Amendment and that, after giving effect to the Amendment and the transactions contemplated thereby, each Loan Document to which such undersigned is a party continues in full force and effect and is the legal, valid and binding obligation of such undersigned, enforceable against such undersigned in accordance with its terms.

 

	
 
    	
REGIS   CORPORATION
    
	
 
    	
REGIS   INC.
    
	
 
    	
SUPERCUTS   CORPORATE SHOPS, INC.
    
	
 
    	
SUPERCUTS, INC.
    
	
 
    	
THE   BARBERS, HAIRSTYLING FOR MEN
    
	
 
    	
&   WOMEN, INC.
    
	
 
    	
REGIS   CORP.
    
	
 
    	
HAIR   CLUB FOR MEN, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Steven Spiegel
    
	
 
    	
Name:
    	
Steven   Spiegel
    
	
 
    	
Title:
    	
Chief   Financial OfficerExhibit 10(c)

 

Execution Copy

 

December 19, 2012

 

Regis Corporation

7201 Metro Boulevard

Minneapolis, Minnesota 55439

 

Re: Amendment No. 9 to Amended and Restated Private Shelf Agreement

 

Ladies and Gentlemen:

 

We refer to the Amended and Restated Private Shelf Agreement dated as of October 3, 2000, as amended by the letter amendment dated as of May 9, 2002, Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as of February 28, 2003, the letter amendment dated April 29, 2005, the letter amendment dated July 6, 2006, the letter amendment dated July 31, 2007, Amendment No. 6 thereto dated as of July 3, 2009, Amendment No. 7 thereto dated as of January 12, 2011 and Amendment No. 8 thereto dated as of April 23, 2012 (as so amended, the “Shelf Agreement”), between Regis Corporation, a Minnesota corporation (the “Company”), on the one hand, and Prudential Investment Management, Inc. (“PIM”), The Prudential Insurance Company of America, Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey and the other “Prudential Affiliates” which pursuant to the terms thereof have become bound by certain provisions thereof, on the other hand.  Unless otherwise defined herein, the terms defined in the Shelf Agreement shall be used herein as therein defined.

 

Pursuant to the request of the Company and in accordance with the provisions of paragraph 11C of the Shelf Agreement, the parties hereto agree as follows:

 

SECTION 1.                         Amendment.  From and after the Effective Date (as defined in Section 2 hereof), the Shelf Agreement and the Notes are amended as follows:

 

1.1.                            Paragraph 6B of the Shelf Agreement is hereby amended and restated in its entirety to read as follows:

 

“6B.                       [Intentionally Omitted].”

 

1.2.                            Paragraph 6C(1) of the Shelf Agreement is hereby amended by amending and restating clauses (iv) and (v) thereof to read as follows:

 

“(iv)                        Liens securing Capital Lease Obligations in an aggregate outstanding amount not to exceed $50,000,000 at any time, provided such Liens attach only to the assets subject to the underlying capital lease; and

 

 

(v) Liens securing Indebtedness other than Capital Lease Obligations not otherwise permitted by clauses (i)-(iv) above, provided that (the aggregate amount of Indebtedness secured by Liens pursuant to this clause (v) shall not exceed $20,000,000; and provided, further, that such Liens may not secure the Credit Agreement, the Term Loan Agreement or other Indebtedness to a bank, insurance company or other financial institution.”

 

1.3.                            Paragraph 6C(2) of the Shelf Agreement is hereby amended and restated in its entirety to read as follows:

 

“6C(2).  Subsidiary  Debt.     The Company shall not permit any Subsidiary to incur any Debt if after giving effect thereto (i) paragraph 6A(2) would be violated (as determined on a pro forma basis as of the last day of the previous fiscal quarter) or (ii) the aggregate amount of all Debt of all Subsidiaries that are not Guarantors (as defined in the Amended and Restated Subsidiary Guaranty dated February 23, 2003 by certain Subsidiaries of the Company in favor of the holders of the Notes) would exceed 9.5% of consolidated tangible assets of the Company and its consolidated Subsidiaries, determined as of the end of the most recently ended fiscal quarter.”

 

1.4.                            Paragraph 6C(3) of the Shelf Agreement is hereby amended by amending and restating clause (vii) thereof to read as follows:

 

“(vii)                     make or permit to remain outstanding other Investments (including Investments in Joint Ventures) in addition to the foregoing Investments permitted under this Section 6(C)(3); provided that (a) the aggregate amount thereof shall at no time exceed the greater of (1) $200,000,000 and (2) the product of 35% and the difference between (x) consolidated tangible assets of the Company and its consolidated Subsidiaries and (y) the aggregate amount of Investments of the Company and its consolidated Subsidiaries not otherwise permitted by any of clauses (i) through (vi) above, and (b) the aggregate amount thereof made in or to Persons that are not in the same or similar line of business in which the Company and its Subsidiaries are engaged as of June 30, 2011 shall at no time exceed one-third of the amount determined pursuant to the foregoing clause (a).”

 

1.5.                            Paragraph 6F of the Shelf Agreement is hereby amended and restated in its entirety to read as follows:

 

“6F.                         Restricted Payments.  The Company shall not, and shall not permit any Subsidiary to, (i) declare or pay any dividend or make any other distribution (whether in cash, securities or other property) on any of its stock or other equity interests or any warrants, options or other rights with respect thereto (any of the foregoing, “Equity Interests”) or (ii) purchase, redeem or otherwise acquire for value any of its Equity Interests, excluding any purchase or redemption of any obligations of the Company with respect to the convertible notes (due 7/14/14) described on Schedule 6F (x) upon the maturity thereof or (y) at the option of the holder thereof, in each case so long as no Default or Event of Default exists or would result therefrom (any such non-excluded

 

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declaration, payment, distribution, purchase, redemption or other acquisition, a “Restricted Payment”); provided that:

 

(i)                                     any Subsidiary may declare and pay dividends, and make other distributions, to the Company or any other Subsidiary;

 

(ii)                                  the Company may declare and pay dividends consisting solely of Equity Interests; and

 

(iii)                               so long as no Default or Event of Default exists, the Company and its Subsidiaries may make other Restricted Payments; provided that (1) if the Leverage Ratio as of the last day of the most recently ended fiscal quarter was greater than 2.50 to 1.0, then neither the Company nor any Subsidiary will make any Restricted Payment pursuant to this clause (iii) if, after giving effect thereto, the aggregate amount of all such Restricted Payments made during the 12-month period ending on the date of such Restricted Payment would exceed $25,000,000 and (2) the aggregate amount of all such Restricted Payments made on or after December 19, 2012 other than Ordinary Dividends would not exceed $100,000,000.  For purposes hereof, “Ordinary Dividends” shall mean normal, ordinary course, recurring dividends made by the Company on any of its Equity Interests and shall not include special, non-recurring distributions.”

 

1.6.                            Paragraph 10B of the Shelf Agreement is amended by deleting therefrom the definition of “Net Worth”.

 

1.7.                            Schedule 6F — Convertible Notes is added to the Shelf Agreement in the form of Schedule 6F — Convertible Notes attached to this letter.

 

SECTION 2.                         Conditions Precedent.  This letter shall become effective as of the date (the “Effective Date”) when the following conditions have been satisfied:

 

2.1.                            Documents.  PIM and each holder of the Notes party hereto shall have received original counterparts or, if satisfactory to PIM and such holder, certified or other copies of all of the following, each duly executed and delivered by the party or parties thereto, in form and substance satisfactory to PIM and such holder, dated the date hereof unless otherwise indicated, and on the date hereof in full force and effect:

 

(i)                                     counterparts of this letter duly executed by the Company, the Guarantors and the Required Holder(s) of the Notes of each Series ; and

 

(ii)                                  a copy of an amendment to the Credit Agreement in form and substance satisfactory to the Required Holder(s), executed by the Company and the requisite lenders thereunder, and the conditions precedent to the effectiveness of such amendment shall have been satisfied and such amendment shall be in full force and effect.

 

The foregoing documentation should be returned to Prudential Capital Group, Two Prudential Plaza, Suite 5600, Chicago, Illinois, 60601-6716, Attention: Scott B. Barnett.

 

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2.2.                            Representations.  The representations of the Company in Section 3 hereof shall be true and correct as of the Effective Date.

 

2.3.                            Proceedings.  All corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incident thereto shall be satisfactory in substance and form to the Required Holder(s) of each Series, and each holder of the Notes party hereto shall have received all such counterpart originals or certified or other copies of such documents as it may reasonably request.

 

SECTION 3.                         Representations and Warranties; No Default.  To induce the holders of the Notes to execute and deliver this letter, the Company represents, warrants and covenants that (1) the execution and delivery of this letter has been duly authorized by all necessary corporate action on behalf of each Company and each Guarantor and this letter has been executed and delivered by a duly authorized officer of each Company and each Guarantor, and all necessary or required consents to and approvals of this letter have been obtained and are in full force and effect, (2) the representations and warranties contained in paragraph 8 of the Shelf Agreement shall be true on and as of the Effective Date, immediately before and after giving effect to the consummation of the transactions contemplated hereby, (3) the Shelf Agreement, as amended hereby, is the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by the availability of the remedy of specific performance, (4) the Subsidiaries of the Company party to this letter represent all of the Subsidiaries of the Company that have joined the Guaranty Agreement (as defined in Section 5 below), (5) there shall exist on the Effective Date no Event of Default or Default, immediately before and after giving effect to the consummation of the transactions contemplated hereby and (6) neither the Company nor any Subsidiary has paid or agreed to pay, and neither the Company nor any Subsidiary will pay or agree to pay, any fees or other consideration for or with respect to the amendment under the Credit Agreement described in Section 2.1(ii).

 

SECTION 4.                         Reference to and Effect on Shelf _Agreement.  Upon the effectiveness of this letter, each reference to the Shelf Agreement in any other document, instrument or agreement shall mean and be a reference to the Shelf Agreement as modified by this letter.  Except as specifically set forth in Section 1 hereof, the Shelf Agreement and the Notes shall remain in full force and effect and is hereby ratified and confirmed in all respects.  Except as specifically stated in this letter, the execution, delivery and effectiveness of this letter shall not (a) amend the Shelf Agreement or any Note, (b) operate as a waiver of any right, power or remedy of PIM or any holder of the Notes, or (c) constitute a waiver of, or consent to any departure from, any provision of the Shelf Agreement or any Note at any time.  The Company acknowledges and agrees that neither PIM nor any holder of any Note is under any duty or obligation of any kind or nature whatsoever to grant the Company any additional amendments or waivers of any type, whether under the same or different circumstances, and no course of dealing or course of performance shall be deemed to have occurred as a result of the amendments and wavier herein.

 

SECTION 5.                         Reaffirmation.  Each Guarantor (as defined in the Amended and Restated Subsidiary Guaranty dated February 23, 2003 (the “Guaranty Agreement”) by certain

 

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Subsidiaries of the Company in favor of the holders of the Notes) hereby ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under the Guaranty Agreement. Each Guarantor hereby consents to the terms and conditions of this letter and reaffirms its obligations and liabilities under or with respect to the Shelf Agreement and the Notes, each as amended by this letter (including, without limitation, any additional Guaranteed Obligations (as defined in the Guaranty Agreement) resulting from this letter), and the Guaranty Agreement.  Each Guarantor acknowledges that the Guaranty Agreement remains in full force and effect and is hereby ratified and confirmed.  Without limiting the generality of the foregoing, each Guarantor agrees and confirms that the Guaranty Agreement continues to guaranty the Guaranteed Obligations arising under or in connection with the Shelf Agreement and the Notes, each as amended by this letter.  The execution of this letter shall not operate as a novation, waiver of any right, power or remedy of the holders of the Notes under the Guaranty Agreement.

 

SECTION 6.                         Expenses.  The Company hereby confirms its obligations under the Shelf Agreement, whether or not the transactions hereby contemplated are consummated, to pay, promptly after request by any holder of the Notes, all reasonable out-of-pocket costs and expenses, including attorneys’ fees and expenses, incurred by any holder of the Notes in connection with this letter or the transactions contemplated hereby, in enforcing any rights under this letter, or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this letter or the transactions contemplated hereby.  The obligations of the Company under this Section 6 shall survive transfer by any holder of the Notes of any Note and payment of any Note.

 

SECTION 7.                         Governing Law.  THIS LETTER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF ILLINOIS (EXCLUDING ANY CONFLICTS OF LAW RULES WHICH WOULD OTHERWISE CAUSE THIS AGREEMENT TO BE CONSTRUED OR ENFORCED IN ACCORDANCE WITH, OR THE RIGHTS OF THE PARTIES TO BE GOVERNED BY, THE LAWS OF ANY OTHER JURISDICTION).

 

SECTION 8.                         Counterparts, Section Titles.  This letter may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this letter by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this letter.  The section titles contained in this letter are and shall be without substance, meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto.

 

[signature pages follow]

 

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Very   truly yours,
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PRUDENTIAL   INVESTMENT MANAGEMENT, INC.
    
	
 
    	
THE   PRUDENTIAL INSURANCE COMPANY OF AMERICA
    
	
 
    	
PRUCO   LIFE INSURANCE COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Dianna D. Carr
    
	
 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
RGA   REINSURANCE COMPANY
    
	
 
    	
MUTUAL   OF OMAHA INSURANCE COMPANY
    
	
 
    	
RELIASTAR   LIFE INSURANCE COMPANY
    
	
 
    	
UNION   SECURITY INSURANCE COMPANY
    
	
 
    	
PHYSICIANS   MUTUAL INSURANCE COMPANY
    
	
 
    	
FARMERS   NEW WORLD LIFE INSURANCE COMPANY
    
	
 
    	
ZURICH   AMERICAN INSURANCE COMPANY
    
	
 
    	
SECURITY   BENEFIT LIFE INSURANCE COMPANY, INC
    
	
 
    	
BAYSTATE   INVESTMENTS, LLC
    
	
 
    	
ING   LIFE INSURANCE AND ANNUITY COMPANY
    
	
 
    	
MEDICA   HEALTH PLANS
    
	
 
    	
MTL   INSURANCE COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
Prudential   Private Placement Investors,
    
	
 
    	
 
    	
L.P.   (as Investment Advisor)
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Prudential   Private Placement Investors, Inc.
    
	
 
    	
 
    	
(as   its General Partner)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Dianna D. Carr
    
	
 
    	
 
    	
 
    	
Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
PRUDENTIAL RETIREMENT INSURANCE   AND ANNUITY COMPANY
    
	
 
    	
PRUDENTIAL ANNUITIES LIFE   ASSURANCE CORPORATION
    
	
 
    	
UNIVERSAL PRUDENTIAL ARIZONA   REINSURANCE COMPANY
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Prudential   Investment Management, Inc.,
    
	
 
    	
 
    	
as   investment manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Dianna D. Carr
    
	
 
    	
 
    	
 
    	
Vice President
    

 

[Signature Page to Amendment No. 9 to Amended and Restated Private Shelf Agreement]

 

 

	
 
    	
GIBRALTAR LIFE INSURANCE   CO., LTD.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Prudential   Investment Management (Japan), Inc., as Investment Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Prudential   Investment Management, Inc., as Sub-Adviser
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Dianna D. Carr
    
	
 
    	
 
    	
 
    	
Vice President
    

 

[Signature Page to Amendment No. 9 to Amended and Restated Private Shelf Agreement]

 

 

Agreed as of the date first above written:

 

REGIS CORPORATION

REGIS INC.

HAIR CLUB FOR MEN, LLC

SUPERCUTS CORPORATE SHOPS, INC.

THE BARBERS HAIRSTYLING FOR MEN & WOMEN, INC.

REGIS CORP.

FIRST CHOICE HAIRCUTTERS (INTERNATIONAL) CORP.

 

	
By:
    	
/s/   Steven Spiegel
    	
 
    
	
 
    	
Steven Spiegel
    	
 
    
	
 
    	
Chief Financial Officer
    	
 
    

 

[Signature Page to Amendment No. 9 to Amended and Restated Private Shelf Agreement]

 

 

SCHEDULE 6F

 

CONVERTIBLE NOTES

 

Convertible Notes

 

	
Amount
    	
 
    	
Rate
    	
 
    	
Due
    	
 
    
	
$
    	
172,500,000
    	
 
    	
5.00%
    	
 
    	
7/14/14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]