Document:

EX-4.5(h)

 Exhibit 4.5(h) 

Compass Group Diversified Holdings LLC 

61 Wilton Road, 2nd Floor 

Westport, Connecticut 06880 
 July 31,
2019 
 5.11, Inc. 
 5.11 TA, Inc. 

1360 Reynolds Ave. 
 Irvine, CA 

92614 
 Attention: Mr. James McGinty 

 

	 	Re:	 Seventh Amendment to Credit Agreement 

Ladies and Gentlemen: 
 Reference is made hereby
to that certain Credit Agreement, dated as of August 31, 2016, as amended prior to the date hereof (the “Credit Agreement”), by and among Compass Group Diversified Holdings LLC, a Delaware limited liability company, as lender
(together with its successors and assigns, the “Lender”), 5.11, Inc., a California corporation, as borrower (“Borrower”), and 5.11 TA, Inc. a Delaware corporation, as
co-borrower (“Co-Borrower”). Capitalized terms used but not defined in this letter agreement (this “Amendment”) have the meanings
ascribed to them in the Credit Agreement. 
 Borrower and Co-Borrower have requested that Lender
amend, and Lender desires to amend, the Credit Agreement in accordance with the terms and conditions set forth herein. Accordingly, effective as of the date of this Amendment, Borrower, Co-Borrower and Lender
hereby agree to, and do hereby, amend: 
  

	 	1.	 Section 1.1 of the Credit Agreement is hereby amended by adding the following defined term:

 Seventh Amendment Date means July 31, 2019. 

 

	 	2.	 Section 1.1 of the Credit Agreement is further amended by deleting the existing definition of
“Revolving Loan Commitment” and replacing it in its entirety with the following: 

Revolving Loan Commitment means, on and after the Seventh Amendment Date up to and including December 31, 2020,
$43,000,000 and, from and after January 1, 2021, $38,000,000 (as may be further reduced from time to time pursuant to the terms hereof), plus such additional amounts, if any, that Lender may, in its sole discretion, from time to time commit to
advance as Revolving Loans in connection with one or more Acquisitions; provided, however, that no advance in respect of any such additional Revolving Loan Commitment shall exceed that amount that would result in: (i) the Senior Debt to EBITDA
Ratio exceeding 4.5 to 1.0; or (ii) the Total Debt to EBITDA 

 
Ratio exceeding 6.5 to 1.0, with both such ratios calculated as of the last day of the Fiscal Quarter immediately preceding the Fiscal Quarter in which such additional amount is to be advanced
and on a pro forma basis based on EBITDA for the Computation Period as if the applicable Acquisition had been consummated on the calculation date, with such adjustments thereto as may be determined necessary or appropriate by Lender. 

Except as expressly set forth herein, this Amendment shall not alter, modify, amend or in any way affect any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect. 

On or prior to the date hereof, each of the following conditions precedent shall have been satisfied and thereafter this letter agreement
shall be binding upon and inure to the benefit of the Borrower, Co-Borrower and the Lender and their respective successors and assigns: 
  

	 	a)	 Lender shall have received each of the following: 

 

	 	i.	 this Seventh Amendment, duly authorized and executed by Borrower and
Co-Borrower; 

  

	 	ii.	 an Acknowledgment and Confirmation of Grantors, dated the date hereof and otherwise in the form attached hereto
as Exhibit A, duly executed by each Loan Party; and 

  

	 	iii.	 such other agreements, documents, instruments and certificates as Lender may reasonably request.

  

	 	b)	 Each of Borrower and Co-Borrower shall have duly and properly
performed, complied with and observed each of its covenants, agreements and obligations contained in this Seventh Amendment. 

Each of Borrower and Co-Borrower hereby agrees that the failure to satisfy any of the conditions set
forth in this letter agreement shall in no way affect or impair the obligations of Borrower and Co-Borrower or be construed as a waiver by the Lender of any of the Lender’s rights under the Credit
Agreement. 
 Each of Borrower and Co-Borrower hereby represents and warrants that (a) the
representations and warranties in the Credit Agreement and the other Loan Documents are true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent such representations or warranties
relate solely to an earlier date), and (b) after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing. 

This Amendment is a “Loan Document” under the Credit Agreement and reflects the entire understanding of the parties with respect to
the matters covered hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof. 

This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed
and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment. Delivery of an executed counterpart of this Amendment by facsimile or electronic 

  
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 mail shall be equally as effective as delivery of an original executed counterpart hereof. Any party
delivering an executed counterpart of this Amendment by facsimile or electronic mail also shall deliver an original executed counterpart hereof, but the failure to deliver an original executed counterpart shall not affect the validity,
enforceability and binding effect of this Amendment. 
 This Amendment shall be construed under and governed by the laws of the State of New
York. 
 {Signature page follows} 

  
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	Cordially,
	
	LENDER:
	
	COMPASS GROUP DIVERSIFIED HOLDINGS LLC,
	a Delaware limited liability company
		
	By:	 	/s/ Ryan J. Faulkingham
		 	Name: Ryan J. Faulkingham
		 	Title:   Chief Financial Officer

  

			
	BORROWER
	5.11, INC.
		
	By:	 	/s/ James McGinty
		 	Name: James McGinty
		 	Title:   Chief Financial Officer

  

			
	CO-BORROWER
	5.11 TA, Inc.
		
	By:	 	/s/ Zach Sawtelle
		 	Name: Zach Sawtelle
		 	Title:   Secretary

 Signature Page to Seventh Amendment to Credit Agreement 

 Exhibit A 

Acknowledgment and Confirmation of Grantors 

Each of the undersigned hereby acknowledges and confirms the terms of that certain Seventh Amendment to the Credit Agreement, dated as of the
date hereof (the “Amendment”), among 5.11, Inc., 5.11 TA, Inc. and Compass Group Diversified Holdings LLC. The undersigned further acknowledge and agree that (i) the execution and delivery of the Amendment by Borrower and Co-Borrower to Lender will not adversely affect or impair any of its obligations to Lender under that certain Guarantee and Collateral Agreement dated as of August 31, 2016 among the Grantor parties thereto and
Lender (the “Guaranty”), and (ii) the Guaranty is in full force and effect as of the date hereof and the same is hereby ratified and confirmed. 

Dated as of: July 31, 2019 
  

			
	 5.11 ABR CORP., 

as a Grantor

 
			
		
	By:	 	 

 
			
	Name:	 	 
	Title:	 	 

  

			
	 5.11 ACQUISITION CORP.,

as a Grantor

 
			
		
	By:	 	 

 
			
	Name:	 	 
	Title:	 	 

  

			
	 5.11 TA, INC., 

as a Grantor

 
			
		
	By:	 	 

 
			
	Name:	 	 
	Title:	 	 

  

			
	 5.11, INC., 

as a Grantor

 
			
		
	By:	 	 

 
			
	Name:	 	James McGinty, CFO

  

			
	 BEYOND CLOTHING, LLC,
 as a
Grantor

 
			
		
	By:	 	 

 
			
	Name:	 	John F. Wicks
	Title:	 	Secretary

 Signature Page to Acknowledgment and ConfirmationEX-4.5(i)

 Exhibit 4.5(i) 

Compass Group Diversified Holdings LLC 

301 Riverside Avenue, 2nd Floor 

Westport, Connecticut 06880 

September 30, 2020 
 5.11, Inc. 

5.11 TA, Inc. 
 1360 Reynolds Ave. 

Irvine, CA 
 92614 

Attention: Mr. James McGinty 
  

	 	Re:	 Eighth Amendment to Credit Agreement 

Ladies and Gentlemen: 
 Reference is made hereby
to that certain Credit Agreement, dated as of August 31, 2016, as amended prior to the date hereof (the “Existing Credit Agreement”), by and among Compass Group Diversified Holdings LLC, a Delaware limited liability company, as
lender (together with its successors and assigns, the “Lender”), 5.11, Inc., a California corporation, as borrower (“Borrower”), and 5.11 TA, Inc. a Delaware corporation, as
co-borrower (“Co-Borrower”). Capitalized terms used but not defined in this letter agreement (this “Amendment”) have the meanings
ascribed to them in the Credit Agreement. 
 Borrower has informed Lender of its desire to acquire on or about October 1, 2020 (i) that
certain retail store located at 15693 San Pedro Ave, San Antonio, TX 78232, and (ii) that certain retail store located at 5511 W Loop 1604 N #101, San Antonio, TX 78253, in each case pursuant to an Asset Purchase Agreement in substantially the
form attached hereto as Exhibit A, for the Purchase Price as defined therein and on such other terms as set forth therein (together, the “Partner Store Acquisitions”). 

Borrower and Co-Borrower have requested that Lender approve the Partner Store Acquisitions by
amending, and Lender desires to amend, the Existing Credit Agreement in accordance with the terms and conditions set forth herein (the Existing Credit Agreement, as amended by this Amendment, being herein referred to as the “Credit
Agreement”). Accordingly, subject to the conditions set forth herein below, effective as of the date of this Amendment, Borrower, Co-Borrower and Lender hereby agree to, and do hereby, amend the
Existing Credit Agreement as follows: 
  

	 	1.	 Section 1.1 of the Existing Credit Agreement is hereby amended by adding the following defined
terms: 

 Eighth Amendment to Credit Agreement means that certain Eighth Amendment to Credit Agreement, dated as of
September 30, 2020, by and among Borrower, Co-Borrower and Lender. 

 Partner Store Acquisitions means the acquisition by Borrower on or about
October 1, 2020 of (i) that certain retail store located at 15693 San Pedro Ave, San Antonio, TX 78232, and (ii) that certain retail store located at 5511 W Loop 1604 N #101, San Antonio, TX 78253, in each case pursuant to an Asset
Purchase Agreement in substantially the form attached as Exhibit A to the Eighth Amendment to Credit Agreement. 
  

	 	2.	 Section 7.11 of the Existing Credit Agreement is hereby amended by: 

(i) deleting “; and” at the end of clause (g) thereof, 

(ii) deleting “.” at the end of clause (h) thereof and replacing it with “; and”, and 

(iii) adding the following new clause (i) thereto: 

(i) the Partner Store Acquisitions. 
  

	 	3.	 Section 7.14.4 of the Existing Credit Agreement is hereby amended and restated such that such
Section shall read in its entirety as follows: 

 “7.14.4 Capital Expenditures. 

Not permit the aggregate amount of all Capital Expenditures for the Fiscal Year ending December 31, 2020 (exclusive of the
Partner Store Acquisitions) and any Fiscal Year ending thereafter to exceed $14 million for each such Fiscal Year.     

If Borrower, Co-Borrower and the Subsidiaries do not utilize the entire amount of the
Capital Expenditures permitted in any Fiscal Year, so long as no Default or Event of Default exists or would be caused thereby, Borrower may carry forward to the immediately succeeding Fiscal Year only, 50% of such unutilized amount (with Capital
Expenditures in such succeeding Fiscal Year applied last to such carried forward unutilized amount).” 
 Except as expressly set forth
herein, this Amendment shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement, all of which are ratified and affirmed in all respects and
shall continue in full force and effect.     
 Notwithstanding anything in this Amendment to the contrary, as a
condition to the effectiveness of this Amendment, Lender shall have received each of: (i) this Amendment, duly authorized and executed by Borrower and Co-Borrower; (ii) a copy of Lien search results
evidencing any Liens against the assets acquired in the Partner Store Acquisitions, together with releases thereof satisfactory to Lender; and (iii) such other agreements, documents, instruments and certificates as Lender may have reasonably
requested. 

  
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 Each of Borrower and Co-Borrower hereby represents
and warrants that (a) the representations and warranties in the Credit Agreement and the other Loan Documents are true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent such
representations or warranties relate solely to an earlier date), and (b) after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.     

This Amendment is a “Loan Document” under the Credit Agreement and reflects the entire understanding of the parties with respect to
the matters covered hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof. 

This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed
and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be equally as
effective as delivery of an original executed counterpart hereof. Any party delivering an executed counterpart of this Amendment by facsimile or electronic mail also shall deliver an original executed counterpart hereof, but the failure to deliver
an original executed counterpart shall not affect the validity, enforceability and binding effect of this Amendment. 
 This Amendment shall
be construed under and governed by the laws of the State of New York. 
 {Signature page follows} 

  
 - 3 - 

 
			
	Cordially,
	
	LENDER:
	
	COMPASS GROUP DIVERSIFIED HOLDINGS LLC,
	a Delaware limited liability company
		
	By:	 	/s/ Ryan J. Faulkingham
		 	Name: Ryan J. Faulkingham
		 	Title:   Chief Financial Officer

  

			
	BORROWER:
	
	5.11, INC.
		
	By:	 	/s/ James McGinty
		 	Name: James McGinty
		 	Title:   Chief Financial Officer

  

			
	CO-BORROWER:
	
	5.11 TA, INC.
		
	By:	 	/s/ Patrick A. Maciariello
		 	Name: Patrick A. Maciariello
		 	Title:   President

 Signature Page to Eighth Amendment [5.11]

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