Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 

FORBEARANCE AGREEMENT AND NINTH AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO FORBEARANCE AGREEMENT AND NINTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of
June 20, 2019, by and among (A) Fred’s, Inc., a Tennessee corporation (“Parent”); (B) the Subsidiaries of Parent identified on the signature pages hereto as Borrowers (each of such Subsidiaries, together with Parent,
jointly and severally, “Borrowers” and, each, a “Borrower”); (C) the Subsidiaries of Parent identified as Guarantors on the signature pages hereto (each of such Subsidiaries, jointly and severally,
“Guarantors” and, each, a “Guarantor”; Guarantors, together with Borrowers, jointly and severally, “Loan Parties” and, each, a “Loan Party”); (D) the Lenders party to the Credit
Agreement defined below; (E) the Co-Collateral Agents party to the Credit Agreement defined below; and (F) Regions Bank, an Alabama bank, in its capacity as administrative agent for Lenders, LC
Issuers and other Secured Parties (as defined in the Credit Agreement) (in such capacity, “Administrative Agent”). 

Recitals: 
 Loan
Parties, Lenders, Swingline Lender, LC Issuers, Co-Collateral Agents and Administrative Agent are parties to that certain Credit Agreement dated as of April 9, 2015, as amended by that certain First
Amendment to Credit Agreement dated as of October 23, 2015, that certain Second Amendment to Credit Agreement dated as of December 28, 2016, that certain Third Amendment to Credit Agreement dated as of January 27, 2017, that certain
Fourth Amendment to Credit Agreement, First Amendment to Amended and Restated Addendum to Credit Agreement, and First Amendment to Security Agreement dated as of July 31, 2017, that certain Fifth Amendment to Credit Agreement dated as of
August 22, 2017, that certain Sixth Amendment to Credit Agreement and Ratification, Reaffirmation and Assumption dated as of April 5, 2018, that certain Seventh Amendment to Credit Agreement, Second Amendment to Amended and Restated
Addendum to Credit Agreement, Second Amendment to Security Agreement, and Ratification, Reaffirmation and Assumption dated as of August 23, 2018, and the Forbearance Agreement (as defined below) (as so amended, and as the same may be further
amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”). 
 Loan Parties,
Lenders, Co-Collateral Agents, and Administrative Agent and certain other parties are parties to that certain Forbearance Agreement, Eighth Amendment to Credit Agreement and Fourth Amendment to Amended and
Restated Addendum to Credit Agreement dated May 15, 2019 (as amended, restated, supplemented, or otherwise modified from time to time, the “Forbearance Agreement”). 

Loan Parties have requested that Administrative Agent, Co-Collateral Agents and Lenders amend certain
provisions of the Forbearance Agreement and the Credit Agreement to reduce the Aggregate Revolving Commitments and to add the 49 “front stores” listed on Exhibit D attached to this Agreement to the Store Closure and Closed Store
Property Liquidation. 
 Administrative Agent, Co-Collateral Agents and Lenders have agreed to such
amendments, subject to the terms and conditions hereof. 

 Statement of Agreement: 

NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the parties hereto, Loan Parties, Administrative Agent, Co-Collateral Agents and Lenders hereby covenant and agree as follows: 

SECTION 1.    Definitions. Unless otherwise specifically defined herein, each term used herein
(and in the recitals above) which is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and
each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Credit Agreement and the Forbearance Agreement shall from and after the date hereof refer to the Credit Agreement and the
Forbearance Agreement respectively, as amended hereby. 
 SECTION 2.    Amendments to Forbearance Agreement.

 (a)    Amendments to Existing Definitions. Section 1(a) of the Forbearance
Agreement is hereby amended by deleting the definitions of “Closed Stores” and “Continuing Stores” set forth therein and by substituting in lieu thereof the following, respectively: 

“Closed Stores” shall mean (a) the 159 retail stores listed on Exhibit A attached to this
Agreement, (b) the 104 retail stores listed on Exhibit B attached to this Agreement, and (c) the 49 “front stores” listed on Exhibit D attached to this Agreement. For the avoidance of doubt, as of June 20,
2019, the Closed Stores shall not include any pharmacy located at a location listed on Exhibit D attached hereto. 

“Continuing Stores” shall mean the retail stores listed on Exhibit C attached to this Agreement, which
stores do not include the Closed Stores. For the avoidance of doubt, as of June 20, 2019, the Continuing Stores shall include the pharmacies (but not any “front stores”) located at the 49 locations listed on Exhibit D attached
hereto. 
 (b)    Amendment to Section 1(b). Section 1(b) of the
Forbearance Agreement is hereby amended by adding the following new sentence to the end of such section: 
 Until the commencement of the
Store Closure and Closed Store Property Liquidation, in each case with respect to the 49 “front stores” listed on Exhibit D attached to this Agreement, references to the “Store Closure,” “Store Closure Plan,”
“Closed Store Property Liquidation” and “Liquidation Transactions” shall not be deemed to include the closure of such 49 “front stores” and the sale or other disposition outside the Ordinary Course of Business of the
property located at such 49 “front stores.” 
 (c)    Amendment to Section 2.
Section 2(c) of the Forbearance Agreement is hereby amended by deleting the parenthetical set forth therein and by adding the following new parenthetical in lieu thereof: 

(other than with respect to the 104 retail stores listed on Exhibit B attached to this Agreement, for which the Store Closure commenced
after the Eighth Amendment Effective Date but prior to June 20, 2019, and the 49 “front stores” listed on Exhibit D attached to this Agreement, for which the Store Closure is intended to commence after June 20, 2019) 

(d)    Amendment to Section 7. Section 7(c) of the Forbearance
Agreement is hereby amended by deleting such section and by substituting the following in lieu thereof: 

(c)    Reduction of Aggregate Revolving Commitments. Loan Parties acknowledge and agree that the
Aggregate Revolving Commitments shall be reduced from $210,000,000 to $150,000,000 effective as of the Eighth Amendment Effective Date, shall be further reduced from $150,000,000 to $125,000,000 effective as of June 15,

  
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2019, shall be further reduced from $125,000,000 to $115,000,000 effective as of June 17, 2019, and shall be further reduced from $115,000,000 to $100,000,000 effective as of July 6,
2019, with each Lender’s share of any such reduction effective after the Eighth Amendment Effective Date in an amount equal to such Lender’s Pro Rata Share of the Aggregate Revolving Commitments multiplied by the amount of such reduction.
Borrowers agree to execute and deliver amended and restated Revolving Notes and Swingline Notes to evidence any such reductions, promptly upon request of Administrative Agent or the applicable Lender from time to time. 

(e)    Amendments to Exhibits. The Exhibits to the Forbearance Agreement are hereby amended by (i) deleting
Exhibit C to the Forbearance Agreement (Continuing Stores) and substituting in lieu thereof Exhibit C to this Amendment, and (ii) adding a new Exhibit D to the Forbearance Agreement (Closed Stores (Wave III)) in the form of
Exhibit D to this Amendment. 
 SECTION 3.    Amendments to Credit Agreement. 

(a)    Amendment to Existing Definition. Section 2 of the Credit Agreement is hereby
amended by deleting the definition of “Aggregate Revolving Commitments” set forth therein and by substituting in lieu thereof the following: 

“Aggregate Revolving Commitments” shall mean, collectively, the Revolving Commitments of all Lenders. As of
June 17, 2019, the amount of the Aggregate Revolving Commitments is $115,000,000; provided, that the Aggregate Revolving Commitments shall be permanently reduced (without the consent or action of any party) on July 6, 2019, from
$115,000,000 to $100,000,000, which reductions in the Aggregate Revolving Commitments shall be applied to reduce the Revolving Commitments of each Lender on a ratable basis in accordance with its Pro Rata Share of the Aggregate Revolving Commitments
(immediately prior to giving effect to any such reduction). Effective as of the date of any such reduction in the Aggregate Revolving Commitments, Schedule 1 shall be deemed to be automatically amended to reflect such reduction. 

(b)    Amendment to Schedules. Schedule 1 to the Credit Agreement (Commitments) is hereby amended by
deleting such schedule and substituting in lieu thereof Schedule 1 to this Amendment. 
 SECTION
4.    Conditions Precedent. This Amendment shall become effective only upon satisfaction of the following conditions precedent, as determined by Administrative Agent in its discretion: 

(a)    Administrative Agent shall have received this Amendment, duly executed and delivered by Loan Parties, Co-Collateral Agents and Lenders; 
 (b)    Administrative Agent shall have received
amended and restated Revolving Notes to reflect the reduced Revolving Commitments of Lenders as contemplated hereby, duly executed and delivered by Borrowers; 

(c)    Administrative Agent shall have received payment of any fees due and payable to Administrative Agent, any Co-Collateral Agent or any Lender pursuant to the Credit Agreement, this Amendment or any fee letter executed and delivered in connection therewith or herewith; 

  
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 (d)    Administrative Agent shall have received a certificate of a duly
authorized officer of each Loan Party, certifying that an attached copy of resolutions authorizing execution and delivery of this Amendment and the Loan Documents contemplated hereby is true and complete, and that such resolutions are in full force
and effect, were duly adopted by the appropriate governing body, have not been amended, modified, or revoked, and constitute all resolutions adopted with respect to this Amendment and the transactions contemplated hereby; 

(e)    Loan Parties engage (and thereafter shall retain the services of) a nationally recognized third-party appraisal and
liquidation advisor who has expertise in conducting store closure and liquidation sales similar to the Store Closure and Closed Store Property Liquidation and who is otherwise satisfactory to Co-Collateral
Agents, pursuant to an engagement letter containing a scope of services that is satisfactory to Co-Collateral Agents but in any event to include conducting the Store Closure and Closed Store Property
Liquidation, in each case with respect to the 49 “front stores” listed on Exhibit D attached to this Agreement; and 

(f)    Administrative Agent shall have received all other documents, instruments, certificates and agreements (if any) as
Administrative Agent shall have reasonably requested in connection with the foregoing, each in form and substance reasonably satisfactory to Administrative Agent. 

SECTION 5.    Acknowledgement and Stipulations by Loan Parties. Each Loan Party acknowledges,
stipulates and agrees that (a) as of the close of business on June 13, 2019, the aggregate principal balance of Revolving Loans totaled $46,664,018.47, exclusive of costs and attorneys’ fees chargeable to Borrowers under the Loan
Documents, and the LC Obligations totaled $17,357,225.00; (b) all of the Obligations are absolutely due and owing by Loan Parties to Administrative Agent, each Co-Collateral Agent, each Lender and each other
Secured Party without any defense, deduction, offset or counterclaim (and, to the extent any Loan Party had any defense, deduction, offset or counterclaim on the date hereof, the same is hereby waived); (c) the Loan Documents executed by such Loan
Party are legal, valid and binding obligations of such Loan Party enforceable against such Loan Party in accordance with their terms; (d) the security interests and other Liens granted by such Loan Party to Administrative Agent (for the benefit
of the Secured Parties) in the Collateral are duly perfected, first priority security interests and Liens; (e) each of the recitals contained at the beginning of this Amendment is true and correct; and (f) prior to executing this
Amendment, such Loan Party consulted with and had the benefit of advice of legal counsel of its own selection and such Loan Party has relied upon the advice of such counsel and in no part upon any representation of Administrative Agent, any Co-Collateral Agent, any Lender or any other Secured Party concerning the legal effects of this Amendment or any provision hereof. Further, each Loan Party represents and warrants that no breach of the Forbearance
Conditions (as such term is defined in the Forbearance Agreement) has occurred prior to the date hereof. 
 SECTION
6.    Miscellaneous Terms. 
 (a)    Loan Document. For avoidance of doubt, the
parties hereto hereby acknowledge and agree that this Amendment is a Loan Document. 
 (b)    Effect of
Amendment. All amendments set forth herein shall become effective as of the date on which all of the conditions precedent set forth in Section 4 hereof are satisfied (the “Effective Date”). Except as
otherwise may be set forth expressly hereinabove, all terms of the Credit Agreement, the Forbearance Agreement, and the other Loan Documents shall be and remain in full force and effect, and shall constitute the legal, valid, binding, and
enforceable obligations of Loan Parties. Except to the extent otherwise expressly set forth herein, the amendments set forth herein shall have prospective application only from and after the Effective Date. 

  
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 (c)    No Novation or Mutual Departure. Loan Parties expressly
acknowledge and agree that (i) there has not been, and this Amendment does not constitute or establish, a novation with respect to the Credit Agreement, the Forbearance Agreement, or any of the other Loan Documents, or a mutual departure from
the strict terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections 2 and 3 above, and (ii) nothing in this Amendment shall affect or limit Administrative Agent’s, Co-Collateral Agents’ or Lenders’ right to demand payment of liabilities owing from Loan Parties to Administrative Agent, Co-Collateral Agents or Lenders under, or
to demand strict performance of the terms, provisions and conditions of, the Credit Agreement, the Forbearance Agreement, and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Credit Agreement, the Forbearance
Agreement, or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the breach of a Forbearance Condition (as such term is defined in the Forbearance Agreement). 

(d)    Counterparts. This Amendment 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 counterparts, taken together, shall constitute but one and the same instrument. This Amendment may be executed by each party on
separate copies, which copies, when combined so as to include the signatures of all parties, shall constitute a single counterpart of this Amendment. 

(e)    Fax or Other Transmission. Delivery by one or more parties hereto of an executed counterpart of this
Amendment via facsimile, telecopy, or other electronic method of transmission pursuant to which the signature of such party can be seen (including, without limitation, Adobe Corporation’s Portable Document Format) shall have the same force and
effect as the delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by facsimile, telecopy, or other electronic method of transmission shall also deliver an original executed
counterpart, but the failure to do so shall not affect the validity, enforceability, or binding effect of this Amendment. 

(f)    Recitals Incorporated Herein. The preamble and the recitals to this Amendment are hereby incorporated herein
by this reference. 
 (g)    Section References. Section titles and references used in this Amendment shall be
without substantive meaning or content of any kind whatsoever and are not a part of the amendments and other agreements among the parties hereto evidenced hereby. 

(h)    Further Assurances. Each Loan Party agrees to take, at such Loan Party’s expense, such further actions
as Administrative Agent shall request from time to time to evidence the amendments and other agreements set forth herein and the transactions contemplated hereby. 

(i)    Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF GEORGIA, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES OR OTHER RULE OF LAW WHICH WOULD CAUSE THE APPLICATION OF THE LAW OF ANY JURISDICTION OTHER THAN THE LAWS OF THE STATE OF GEORGIA (BUT GIVING EFFECT TO FEDERAL LAWS
RELATING TO NATIONAL BANKS). 
 (j)    Severability. Any provision of this Amendment which is prohibited or
unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other
jurisdiction. 

  
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 (k)    Release of Claims. To induce Administrative Agent, each Co-Collateral Agent and each Lender to enter into this Amendment, each Loan Party hereby (i) RELEASES, ACQUITS AND FOREVER DISCHARGES Administrative Agent, each Lender, each
Co-Collateral Agent and each other Secured Party, and all officers, directors, agents, employees, successors and assigns of Administrative Agent, each Lender, each
Co-Collateral Agent and each other Secured Party, from any and all liabilities, claims, demands, actions or causes of action of any kind or nature (if there be any), whether absolute or contingent, disputed or
undisputed, at law or in equity, or known or unknown, that such Loan Party now has or ever had against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party arising under or in
connection with any of the Loan Documents or otherwise and (ii) covenants and agrees not to institute or cause to be instituted or continue prosecution of any suit or other form of action or proceeding of any kind or nature whatsoever
against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, or any officer, director, agent, employee, successor or assign of Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, by reason of or in connection with any of the foregoing liabilities, claims, demands, actions or causes of action. Each Loan Party represents and warrants to
Administrative Agent and each Lender that such Loan Party has not transferred or assigned to any Person any claim that such Loan Party ever had or claimed to have against Administrative Agent, any Lender, any
Co-Collateral Agent or any other Secured Party. 
 [Remainder of page intentionally left blank;
signatures appear on the following pages] 

  
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 IN WITNESS WHEREOF, each party hereto has caused this Amendment to be duly executed
and delivered under seal by its duly authorized officer or other representative as of the day and year first above written. 
  

			
	BORROWERS:
	
	FRED’S, INC., a Tennessee corporation,
as “Borrower Agent” and a “Borrower”

 

			
	By:	 	 /s/ Joseph Anto

	Name:	 	 Joseph Anto

	Title:	 	 Chief Executive Officer

 

			
	[CORPORATE SEAL]
	
	FRED’S STORES OF TENNESSEE, INC.,
a Delaware corporation, as a “Borrower”

 

			
	By:	 	 /s/ Joseph Anto

	Name:	 	 Joseph Anto

	Title:	 	 Chief Executive Officer

 

			
	[CORPORATE SEAL]
	
	NATIONAL PHARMACEUTICAL NETWORK, INC., a Florida corporation, as a “Borrower”

 

			
	By:	 	 /s/ Joseph Anto

	Name:	 	 Joseph Anto

	Title:	 	 Chief Executive Officer

 

			
	[CORPORATE SEAL]
	
	REEVES-SAIN DRUG STORE, INC.,
a Tennessee corporation, as a “Borrower”

 

			
	By:	 	 /s/ Joseph Anto

	Name:	 	 Joseph Anto

	Title:	 	 Chief Executive Officer

 

			
	[CORPORATE SEAL]

 [Signatures continue on following pages.] 

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 
			
	GUARANTOR:
	
	505 N. MAIN OPP, LLC,
a Delaware limited liability company, as a “Guarantor”

 

			
	By:	 	 /s/ Joseph Anto

	Name:	 	 Joseph Anto

	Title:	 	 Chief Executive Officer

 

			
	[SEAL]

 [Signatures continue on following pages.] 

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 
			
	ADMINISTRATIVE AGENT:
	
	REGIONS BANK, as “Administrative Agent”

  

			
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director

  

			
	CO-COLLATERAL AGENTS:
	
	REGIONS BANK, as a “Co-Collateral Agent”

 

			
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director

 [Signatures continue on following page.] 

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 
			
	BANK OF AMERICA, N.A., as a “Co-Collateral Agent”
		
	By:	 	 /s/ Roger Malouf

	Name:	 	Roger Malouf
	Title:	 	Director

 [Signatures continue on following page.] 

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 
			
	LENDERS:
	
	REGIONS BANK
		
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director

 [Signatures continue on following page.] 

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Roger Malouf

	Name:	 	Roger Malouf
	Title:	 	Director

  
 First Amendment to Forbearance Agreement
and Ninth Amendment to Credit Agreement (Fred’s) 

 SCHEDULE 1 

Commitments 
  

					
	 Lender
	  	Revolving Commitment	 
	 Regions Bank
	  	$	57,500,000.00	 
	 Bank of America, N.A.
	  	$	57,500,000.00	 

 EXHIBIT C 

Continuing Stores 
  

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	3240	  	WINONA, MS	  	603 MIDDLETON RD	  	WINONA	  	MS	  		  	
	1178	  	BRYSON CITY, NC	  	250 HIGHWAY 19 S	  	BRYSON CITY	  	NC	  		  	
	2500	  	OLIVE BRANCH, MS	  	7105 HIGHWAY 305 N	  	OLIVE BRANCH	  	MS	  		  	
	1758	  	GLENNVILLE, GA	  	726 N VETERANS BLVD.	  	GLENNVILLE	  	GA	  		  	
	1300	  	CLARKSDALE, MS	  	236 DESOTO AVE	  	CLARKSDALE	  	MS	  		  	
	2711	  	PARSONS, TN	  	501 TENNESSEE AVE N	  	PARSONS	  	TN	  		  	
	1135	  	BATESVILLE, MS	  	475 HIGHWAY 6 E	  	BATESVILLE	  	MS	  		  	
	1923	  	GRAY, GA	  	106 BARKER RD	  	GRAY	  	GA	  		  	
	1163	  	BONIFAY, FL	  	1718 S WAUKESHA ST	  	BONIFAY	  	FL	  		  	
	3310	  	WARREN, AR	  	507 W PINE ST	  	WARREN	  	AR	  		  	
	1665	  	FRANKLINTON, LA	  	708 WASHINGTON ST	  	FRANKLINTON	  	LA	  		  	
	1765	  	HENDERSON, TN	  	535 W MAIN ST	  	HENDERSON	  	TN	  		  	
	2308	  	METTER, GA	  	978 S.E. BROAD ST.	  	METTER	  	GA	  		  	
	2388	  	MOUNTAIN CITY, TN	  	100 PIONEER VILLAGE DR	  	MOUNTAIN CITY	  	TN	  		  	
	1035	  	ARCADIA, LA	  	1311 HAZEL ST	  	ARCADIA	  	LA	  		  	
	2993	  	SYLVANIA, GA	  	518 W OGEECHEE ST	  	SYLVANIA	  	GA	  		  	
	1608	  	DUMAS, AR	  	611 HIGHWAY 65 S	  	DUMAS	  	AR	  		  	
	1520	  	EUPORA, MS	  	1960 VETERANS MEMORIAL BLVD	  	EUPORA	  	MS	  		  	
	2615	  	PIGGOTT, AR	  	303 E MAIN ST	  	PIGGOTT	  	AR	  		  	
	3210	  	WATER VALLEY, MS	  	109 DUNCAN ST	  	WATER VALLEY	  	MS	  		  	
	1295	  	COLUMBIA, LA	  	8155 HIGHWAY 165	  	COLUMBIA	  	LA	  		  	
	2405	  	MORTON, MS	  	5186 HIGHWAY 80	  	MORTON	  	MS	  		  	
	1403	  	DADEVILLE, AL	  	17916 HIGHWAY 280	  	DADEVILLE	  	AL	  		  	
	2335	  	MONROE, LA	  	522 LINCOLN RD	  	MONROE	  	LA	  		  	
	3225	  	WAYNESBORO, TN	  	307 HIGHWAY 64 E	  	WAYNESBORO	  	TN	  		  	
	1950	  	LINEVILLE, AL	  	50 TALLADEGA ST	  	LINEVILLE	  	AL	  		  	
	1218	  	CADIZ, KY	  	1938 MAIN ST	  	CADIZ	  	KY	  		  	
	1408	  	DAINGERFIELD, TX	  	218 WATSON BLVD	  	DAINGERFIELD	  	TX	  		  	
	2203	  	LUVERNE, AL	  	821 S FOREST AVE	  	LUVERNE	  	AL	  		  	
	1145	  	BRUCE, MS	  	403 W CALHOUN ST	  	BRUCE	  	MS	  		  	
	1763	  	HEADLAND, AL	  	804 CLEVELAND ST	  	HEADLAND	  	AL	  		  	
	1440	  	DOVER, TN	  	1560 DONELSON PKWY	  	DOVER	  	TN	  		  	
	1550	  	ERIN, TN	  	885 E MAIN ST	  	ERIN	  	TN	  		  	
	2373	  	MONTEVALLO, AL	  	4559 HIGHWAY 25	  	MONTEVALLO	  	AL	  		  	
	1505	  	EAST PRAIRIE, MO	  	125 PRAIRIE DR	  	EAST PRAIRIE	  	MO	  		  	
	2395	  	MENDENHALL, MS	  	3050 SIMPSON HIGHWAY 13	  	MENDENHALL	  	MS	  		  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	2990	  	ST FRANCISVILLE, LA	  	7139 U S HIGHWAY 61	  	SAINT FRANCISVILLE	  	LA	  		  	
	1400	  	COUNCE, TN	  	9810 HIGHWAY 57	  	COUNCE	  	TN	  		  	
	2745	  	REIDSVILLE, GA	  	139 W BRAZELL ST	  	REIDSVILLE	  	GA	  		  	
	1405	  	DARIEN, GA	  	1038 RIVER DR SW	  	DARIEN	  	GA	  		  	
	2350	  	MIDFIELD, AL	  	165 BESSEMER SUPER HWY	  	MIDFIELD	  	AL	  		  	
	2318	  	MILLEN, GA, GA	  	506 US HIGHWAY 25 N	  	MILLEN	  	GA	  		  	
	1460	  	DONALSONVILLE, GA	  	421 W 3RD ST	  	DONALSONVILLE	  	GA	  		  	
	1540	  	ELBA, AL	  	996 HIGHWAY 203	  	ELBA	  	AL	  		  	
	1108	  	BAMBERG, SC	  	3606 MAIN HWY	  	BAMBERG	  	SC	  		  	
	1585	  	FAIRFIELD, TX	  	375 W HWY 84	  	FAIRFIELD	  	TX	  		  	
	1913	  	HONEA PATH, SC	  	518 E GREER ST	  	HONEA PATH	  	SC	  		  	
	2168	  	LAKELAND, GA	  	512 S VALDOSTA RD	  	LAKELAND	  	GA	  		  	
	3170	  	VARNVILLE, SC	  	181 W CAROLINA AVE	  	VARNVILLE	  	SC	  		  	
	3200	  	WARRIOR, AL	  	204 KEMP DR	  	WARRIOR	  	AL	  		  	
	1803	  	HAWKINSVILLE, GA	  	521 BROAD ST	  	HAWKINSVILLE	  	GA	  		  	
	2173	  	LENOIR, NC	  	1346 NORWOOD ST SW	  	LENOIR	  	NC	  		  	
	1015	  	ASHBURN, GA	  	316 E WASHINGTON AVE	  	ASHBURN	  	GA	  		  	
	2078	  	JOHNSONVILLE, SC	  	198 STUCKEY ST	  	JOHNSONVILLE	  	SC	  		  	
	1830	  	HIAWASSEE, GA	  	534 BELL CREEK RD	  	HIAWASSEE	  	GA	  		  	
	2253	  	MADISON, FL	  	935 E US 90	  	MADISON	  	FL	  		  	
	2695	  	PURVIS, MS	  	509 HIGHWAY 589	  	PURVIS	  	MS	  		  	
	2160	  	LAKE VILLAGE, AR	  	1218 S HWY 65	  	LAKE VILLAGE	  	AR	  		  	
	1278	  	COLLINS, MS	  	1211 S FIR AVE	  	COLLINS	  	MS	  		  	
	2868	  	SALUDA, SC	  	437 N MAIN ST	  	SALUDA	  	SC	  		  	
	2740	  	RAINSVILLE, AL	  	584 MCCURDY AVE S	  	RAINSVILLE	  	AL	  		  	
	2798	  	RUSTON, LA	  	2019 FARMERVILLE HWY	  	RUSTON	  	LA	  		  	
	2970	  	SOMERVILLE, TN	  	16280 HWY 64	  	SOMERVILLE	  	TN	  		  	
	1153	  	BLACKSHEAR, GA	  	3764 HWY 84 EAST	  	BLACKSHEAR	  	GA	  		  	
	1533	  	BENTON, LA	  	5604 HIGHWAY 3	  	BENTON	  	LA	  		  	
	2215	  	LINDEN, TN	  	308 SQUIRREL HOLLOW DR	  	LINDEN	  	TN	  		  	
	2758	  	ROGERSVILLE, AL	  	16100 HIGHWAY 72	  	ROGERSVILLE	  	AL	  		  	
	2365	  	MONTICELLO, MS	  	1509 W BROAD ST	  	MONTICELLO	  	MS	  		  	
	1280	  	CHATSWORTH, GA	  	1009 N 3RD AVE	  	CHATSWORTH	  	GA	  		  	
	2575	  	POPLARVILLE, MS	  	1388 SOUTH MAIN STREET	  	POPLARVILLE	  	MS	  		  	
	3050	  	TRENTON, TN	  	2045 HWY 45 BYPASS	  	TRENTON	  	TN	  		  	
	1433	  	CHESEE, SC	  	401 S ALABAMA AVE	  	CHESNEE	  	SC	  		  	
	2133	  	ALBANY, GA	  	1705 PHILEMA RD S	  	ALBANY	  	GA	  		  	
	1430	  	DALEVILLE, AL	  	340 VIRGINIA AVE	  	DALEVILLE	  	AL	  		  	
	1193	  	BURNSVILLE, NC	  	BURNSVILLE PLAZA	  	BURNSVILLE	  	NC	  		  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	1093	  	BELTON, SC	  	116 RIVER ST	  	BELTON	  	SC	  		  	
	1325	  	CLAXTON, GA	  	413 N DUVAL ST	  	CLAXTON	  	GA	  		  	
	2980	  	STAR CITY, AR	  	1309 N LINCOLN AVE	  	STAR CITY	  	AR	  		  	
	2488	  	MCCOMB, MS	  	1618 DELAWARE AVE	  	MCCOMB	  	MS	  		  	
	2385	  	HELENA, GA	  	124 8TH STREET	  	HELENA	  	GA	  		  	
	2540	  	OPP, AL	  	505 N MAIN ST	  	OPP	  	AL	  		  	
	2715	  	CHARLESTON, MS	  	304 W MAIN ST	  	CHARLESTON	  	MS	  		  	
	1258	  	CITRONELLE, AL	  	19580 N 3RD ST	  	CITRONELLE	  	AL	  		  	
	2655	  	PORTAGEVILLE, MO	  	422 W HWY 162	  	PORTAGEVILLE	  	MO	  		  	
	1070	  	ARLINGTON, TN	  	11888 US 70	  	ARLINGTON	  	TN	  		  	
	1500	  	EDGEFIELD, SC	  	227 COLUMBIA RD	  	EDGEFIELD	  	SC	  		  	
	2063	  	HOMERVILLE, GA	  	369 S CHURCH ST	  	HOMERVILLE	  	GA	  		  	
	1358	  	CUTHBERT, GA	  	101 N WEBSTER ST	  	CUTHBERT	  	GA	  		  	
	2410	  	NEW ALBANY, MS	  	126 MAIN ST W	  	NEW ALBANY	  	MS	  		  	
	1538	  	EAST DUBLIN, GA	  	705 CENTRAL DR	  	EAST DUBLIN	  	GA	  		  	
	2360	  	MCKENZIE, TN	  	87 MAIN ST S	  	MC KENZIE	  	TN	  		  	
	2445	  	NATCHEZ, MS	  	31 SGT PRENTISS DR	  	NATCHEZ	  	MS	  		  	
	1715	  	GUIN, AL	  	7250 US HIGHWAY 43	  	GUIN	  	AL	  		  	
	1188	  	BURKESVILLE, KY	  	260 KEEN ST	  	BURKESVILLE	  	KY	  		  	
	1865	  	HARRISBURG, AR	  	1301 N ILLINOIS ST	  	HARRISBURG	  	AR	  		  	
	3280	  	PELZER, SC	  	297 SC-20	  	WILLIAMSTON	  	SC	  		  	
	2178	  	PHENIX CITY, AL	  	3920 US HIGHWAY 80 W	  	PHENIX CITY	  	AL	  		  	
	1753	  	GREENWOOD, MS	  	2616 HIGHWAY 82 E	  	GREENWOOD	  	MS	  		  	
	2750	  	RED BAY, AL	  	525 4TH AVE SE	  	RED BAY	  	AL	  		  	
	2870	  	SALTILLO, MS	  	111 WILLOW CREEK RD	  	SALTILLO	  	MS	  		  	
	1415	  	DAWSON, GA	  	839 FORRESTER DR SE	  	DAWSON	  	GA	  		  	
	1198	  	BYRON, GA	  	214 US HWY 49	  	BYRON	  	GA	  		  	
	1125	  	BAY SPRINGS, MS	  	2675 HIGHWAY 15	  	BAY SPRINGS	  	MS	  		  	
	2650	  	PINE BLUFF, AR	  	2809 S CAMDEN RD	  	PINE BLUFF	  	AR	  		  	
	2330	  	MARKED TREE, AR	  	103 DAWSON ST	  	MARKED TREE	  	AR	  		  	
	2255	  	MONTEAGLE, TN	  	750 W MAIN ST	  	MONTEAGLE	  	TN	  		  	
	1220	  	CARTHAGE, MS	  	300 S PEARL ST	  	CARTHAGE	  	MS	  		  	
	1113	  	ANDREWS, SC	  	311 E MAIN ST	  	ANDREWS	  	SC	  		  	
	2743	  	RAINBOW CITY, AL	  	110 SUTTON SQ	  	RAINBOW CITY	  	AL	  		  	
	2210	  	LOUISVILLE, MS	  	2115 S CHURCH AVE	  	LOUISVILLE	  	MS	  		  	
	1043	  	ALMA, GA	  	104 WILLIAMS ST	  	ALMA	  	GA	  		  	
	1055	  	ANDREWS, NC	  	118 MAIN ST	  	ANDREWS	  	NC	  		  	
	2995	  	SYLVESTER, GA	  	204 E KELLY ST	  	SYLVESTER	  	GA	  		  	
	1873	  	GREENSBORO, GA	  	203 N MAIN ST	  	GREENSBORO	  	GA	  		  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	2148	  	LAKE PARK, GA	  	365 LAKES BLVD	  	LAKE PARK	  	GA	  		  	
	3078	  	STERLINGTON, LA	  	1320 HIGHWAY 2	  	STERLINGTON	  	LA	  		  	
	2590	  	PIKEVILLE, TN	  	327 MAIN ST	  	PIKEVILLE	  	TN	  		  	
	2098	  	BYHALIA, MS	  	15 STONEWALL RD	  	BYHALIA	  	MS	  		  	
	2895	  	SUMRALL, MS	  	4233 ROCKY BRANCH RD	  	SUMRALL	  	MS	  		  	
	1158	  	BAYOU LA BATRE, AL	  	13210 N WINTZELL AVE	  	BAYOU LA BATRE	  	AL	  		  	
	1210	  	CANTON, MS	  	229 N UNION ST	  	CANTON	  	MS	  		  	
	2053	  	JACKSON, MS	  	6230 OLD CANTON RD	  	JACKSON	  	MS	  		  	
	1918	  	HOGANSVILLE, GA	  	2001 BAILEY	  	HOGANSVILLE	  	GA	  		  	
	1080	  	BUTLER, AL	  	307 N MULBERRY AVE	  	BUTLER	  	AL	  		  	
	2035	  	JASPER, AL	  	280 HIGHWAY 78 W	  	JASPER	  	AL	  		  	
	3205	  	WASHINGTON, GA	  	923 N BYPASS E	  	WASHINGTON	  	GA	  		  	
	1825	  	HAUGHTON, LA	  	1075 HIGHWAY 80	  	HAUGHTON	  	LA	  		  	
	1700	  	FLORA, MS	  	101 MANSKER DR	  	FLORA	  	MS	  		  	
	2378	  	MONTICELLO, FL	  	1150 N JEFFERSON ST	  	MONTICELLO	  	FL	  		  	
	2185	  	LIVINGSTON, TN	  	890 OVERTON PLZ	  	LIVINGSTON	  	TN	  		  	
	2640	  	PONTOTOC, MS	  	170 HIGHWAY 15 N	  	PONTOTOC	  	MS	  		  	
	3020	  	TUNICA, MS	  	1038 US 61	  	TUNICA	  	MS	  		  	
	2265	  	MANILA, AR	  	801 HWY 77	  	MANILA	  	AR	  		  	
	2873	  	SHELBY, NC	  	1528 S LAFAYETTE ST	  	SHELBY	  	NC	  		  	
	1160	  	BELZONI, MS	  	520 N HAYDEN ST	  	BELZONI	  	MS	  		  	
	3010	  	TIPTONVILLE, TN	  	730 EVERETT ST	  	TIPTONVILLE	  	TN	  		  	
	1900	  	HALEYVILLE, AL	  	916 21ST ST	  	HALEYVILLE	  	AL	  		  	
	1328	  	COMMERCE, GA	  	185 S ELM ST	  	COMMERCE	  	GA	  		  	
	1348	  	CARTHAGE, NC	  	102 MCREYNOLDS ST	  	CARTHAGE	  	NC	  		  	
	1273	  	COLUMBUS, GA	  	1900 AUBURN AVE	  	COLUMBUS	  	GA	  		  	
	3370	  	WRENS, GA	  	605 N MAIN ST	  	WRENS	  	GA	  		  	
	2105	  	KINGSTREE, SC	  	480 NELSON BLVD	  	KINGSTREE	  	SC	  		  	
	1027	  	ABBEVILLE, SC	  	763 HIGHWAY 28 BYP STE 22	  	ABBEVILLE	  	SC	  		  	
	3250	  	WESTMORELAND, TN	  	5634 AUSTIN PEAY HWY	  	WESTMORELAND	  	TN	  		  	
	1503	  	ALAMO, TN	  	1200 W CHURCH ST	  	ALAMO	  	TN	  		  	
	1915	  	HEFLIN, AL	  	731 ROSS ST	  	HEFLIN	  	AL	  		  	
	3073	  	STATESBORO, GA	  	2974 NORTHSIDE DR WEST	  	STATESBORO	  	GA	  		  	
	2717	  	MARKS, MS	  	1098 MARTIN LUTHER KING DR	  	Marks	  	MS	  		  	
	1495	  	CHICKAMAUGA, GA	  	93 BETTY DR	  	CHICKAMAUGA	  	GA	  		  	
	1588	  	BALDWYN, MS	  	441 N 4TH ST	  	BALDWYN	  	MS	  		  	
	1233	  	ADAIRSVILLE, GA	  	5132 JOE FRANK HARRIS PKWY NW	  	ADAIRSVILLE	  	GA	  		  	
	2513	  	MOODY, AL	  	1001 CROSSROADS PLAZA DR	  	MOODY	  	AL	  		  	
	1703	  	GREENWOOD, SC	  	2544 HIGHWAY 25 S	  	GREENWOOD	  	SC	  		  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	2958	  	SOCIAL CIRCLE, GA	  	1567 N CHEROKEE RD	  	SOCIAL CIRCLE	  	GA	  		  	
	2485	  	LEAKESVILLE, MS	  	951 MAIN STREET	  	LEAKESVILLE	  	MS	  		  	
	2213	  	LOUISVILLE, GA	  	119 US 1 BY-PASS	  	LOUISVILLE	  	GA	  		  	Yes
	2440	  	NASHVILLE, AR	  	614 S MAIN ST	  	NASHVILLE	  	AR	  		  	
	3040	  	TRENTON, GA	  	11858 S. MAIN ST.	  	TRENTON	  	GA	  		  	
	1375	  	CLANTON, AL	  	300 PARK PLZ	  	CLANTON	  	AL	  		  	
	2953	  	SOUTHAVEN, MS	  	710 CHURCH ROAD	  	SOUTHAVEN	  	MS	  		  	
	2123	  	KINDER, LA	  	715 1ST AVE	  	KINDER	  	LA	  		  	
	2090	  	BOSSIER CITY, LA	  	5590 BARKSDALE BLVD	  	BOSSIER CITY	  	LA	  		  	
	2438	  	LINCOLN, AL	  	47950 US HIGHWAY 78	  	LINCOLN	  	AL	  		  	
	1928	  	DEKALB, MS	  	14916 HIGHWAY 16 W	  	DE KALB	  	MS	  		  	
	3175	  	VERNON, AL	  	9574 HWY-18	  	VERNON	  	AL	  		  	
	2073	  	HAUGHTON, LA	  	400 W MCKINLEY AVE	  	HAUGHTON	  	LA	  		  	
	1998	  	HOMER, LA	  	902 W MAIN ST	  	HOMER	  	LA	  		  	
	1363	  	COLUMBIANA, AL	  	21665 HIGHWAY 25	  	COLUMBIANA	  	AL	  		  	
	1083	  	ALEXANDRIA, AL	  	120 SPRING BRANCH RD	  	ALEXANDRIA	  	AL	  		  	
	2348	  	MCLEANSBORO, IL	  	213 W RANDOLPH ST	  	MCLEANSBORO	  	IL	  		  	
	1560	  	EVERGREEN, AL	  	450 WEST FRONT ST.	  	EVERGREEN	  	AL	  		  	
	2475	  	MAYNARDVILLE, TN	  	3561 MAYNARDVILLE HWY	  	MAYNARDVILLE	  	TN	  		  	
	1248	  	CLARKESVILLE, GA	  	200 E LOUISE ST	  	CLARKESVILLE	  	GA	  		  	
	2670	  	PRENTISS, MS	  	105 S COLUMBIA AVE	  	PRENTISS	  	MS	  		  	
	1953	  	LIVINGSTON, AL	  	720 N WASHINGTON ST	  	LIVINGSTON	  	AL	  		  	
	2468	  	NETTLETON, MS	  	7122 WILL ROBBINS HWY	  	NETTLETON	  	MS	  		  	
	2130	  	LAVONIA, GA	  	11747 AUGUSTA RD	  	LAVONIA	  	GA	  		  	
	1355	  	CAMDEN, AL	  	24 CAMDEN BYP	  	CAMDEN	  	AL	  		  	
	1640	  	FULTON, MS	  	1409 S ADAMS ST	  	FULTON	  	MS	  		  	
	1343	  	CANTON, NC	  	70 NEW CLYDE HWY	  	CANTON	  	NC	  		  	
	2128	  	LEXINGTON, GA	  	718 ATHENS RD	  	LEXINGTON	  	GA	  		  	Yes
	1920	  	INDIANOLA, MS	  	210 HIGHWAY 82 W	  	INDIANOLA	  	MS	  		  	Yes
	2665	  	PITTSBURG, TX	  	113 N GREER BLVD	  	PITTSBURG	  	TX	  		  	
	2572	  	SOPERTON, GA	  	4269 W MAIN ST	  	SOPERTON	  	GA	  		  	Yes
	3410	  	YELLVILLE, AR	  	320 HIGHWAY 14 S	  	YELLVILLE	  	AR	  		  	
	1930	  	HEPHZIBAH, GA	  	2872 TOBACCO RD	  	HEPHZIBAH	  	GA	  		  	
	6025	  	EUTAW, AL (GD&D)	  	206 GREENSBORO AVE	  	EUTAW	  	AL	  		  	
	1235	  	CENTREVILLE, MS	  	456 HIGHWAY 24 E	  	CENTREVILLE	  	MS	  		  	
	3053	  	TAYLORSVILLE, MS	  	402 PINE ST	  	TAYLORSVILLE	  	MS	  		  	Yes
	2320	  	MONTEZUMA, GA	  	201 WALNUT STREET	  	MONTEZUMA	  	GA	  		  	
	2280	  	MARIANNA, AR	  	438 S ALABAMA ST	  	MARIANNA	  	AR	  		  	
	1420	  	DEQUEEN, AR	  	808 W COLLIN RAYE DR	  	DE QUEEN	  	AR	  		  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	1883	  	HAWKINS, TX	  	850 N BEAULAH ST	  	HAWKINS	  	TX	  		  	
	1323	  	BUNKIE, LA	  	109 CHEVY LN	  	BUNKIE	  	LA	  		  	
	2753	  	REFORM, AL	  	609 1ST AVE W	  	REFORM	  	AL	  		  	Yes
	3178	  	VILONIA, AR	  	10 EAGLE ST	  	VILONIA	  	AR	  		  	
	2613	  	PELAHATCHIE, MS	  	404 SECOND STREET	  	PELAHATCHIE	  	MS	  		  	Yes
	3083	  	SOUTHAVEN, MS	  	2110 GOODMAN RD (@ TCHULAHOMA)	  	SOUTHAVEN	  	MS	  		  	
	2165	  	LAFAYETTE, GA	  	303 W PATTON ST	  	LA FAYETTE	  	GA	  		  	
	2425	  	NASHVILLE, GA	  	719 S DAVIS ST	  	NASHVILLE	  	GA	  		  	
	1713	  	GEORGIANA, AL	  	685 HWY 106 WEST	  	GEORGIANA	  	AL	  		  	Yes
	2780	  	ROLLING FORK, MS	  	901 US 61	  	ROLLING FORK	  	MS	  		  	Yes
	2175	  	LEXINGTON, MS	  	301 YAZOO ST	  	LEXINGTON	  	MS	  		  	Yes
	3070	  	TYLERTOWN, MS	  	3000 PIKE 93 N	  	TYLERTOWN	  	MS	  		  	Yes
	1880	  	HOLIDAY ISLAND, AR	  	2 FOREST PARK DR	  	HOLIDAY ISLAND	  	AR	  		  	
	1660	  	BRINKLEY, AR	  	1131 NORTH CHARLYNE	  	BRINKLEY	  	AR	  		  	Yes
	1385	  	CLARKSVILLE, AR	  	409 W MAIN ST	  	CLARKSVILLE	  	AR	  		  	Yes
	2925	  	SHERIDAN, AR	  	624 S ROCK ST	  	SHERIDAN	  	AR	  		  	Yes
	2598	  	MEMPHIS, TN	  	1290 LAMAR AVE	  	MEMPHIS	  	TN	  		  	
	2850	  	RIPLEY, MS	  	706 CITY AVE N	  	RIPLEY	  	MS	  		  	
	1510	  	EASTMAN, GA	  	103 FOURTH AVE	  	EASTMAN	  	GA	  		  	
	3220	  	WHITE BLUFF, TN	  	4928 HIGHWAY 70 E	  	WHITE BLUFF	  	TN	  		  	
	6021	  	SULLIGENT, AL (GD&D)	  	5705 HWY 278	  	SULLIGENT	  	AL	  		  	Yes
	6015	  	MIDDLETON, TN (GD&D)	  	700 S. MAIN STREET	  	MIDDLETON	  	TN	  		  	Yes
	2150	  	LORETTO, TN	  	534 N MILITARY ST	  	LORETTO	  	TN	  		  	Yes
	2550	  	OAKLAND CITY, IN	  	1310 W MORTON ST	  	OAKLAND CITY	  	IN	  		  	
	1663	  	ALBANY, KY	  	800 N CROSS ST	  	ALBANY	  	KY	  		  	Yes
	2533	  	OKOLONA, MS	  	511 W MONROE AVENUE	  	OKOLONA	  	MS	  		  	Yes
	3245	  	WEST HELENA, AR	  	826 N SEBASTIAN	  	WEST HELENA	  	AR	  		  	
	1060	  	ACKERMAN, MS	  	318 N ALFORD	  	ACKERMAN	  	MS	  		  	Yes
	2788	  	RINGGOLD, LA	  	2866 BIENVILLE RD	  	RINGGOLD	  	LA	  		  	
	2430	  	NEWTON, MS	  	304 NORTHSIDE DR	  	NEWTON	  	MS	  		  	Yes
	3368	  	WOODVILLE, MS	  	211 U.S. HWY 61 SOUTH	  	WOODVILLE	  	MS	  		  	Yes
	1723	  	GREENFIELD, TN	  	1207 S MERIDIAN ST	  	GREENFIELD	  	TN	  		  	Yes
	1155	  	BOONEVILLE, MS	  	504 N 2ND ST	  	BOONEVILLE	  	MS	  		  	
	2460	  	NORTH CROSSETT, AR	  	1164 HIGHWAY 133 N	  	CROSSETT	  	AR	  		  	Yes
	1910	  	IUKA, MS	  	615 BATTLEGROUND DR	  	IUKA	  	MS	  		  	
	1320	  	CAMDEN, TN	  	195 HIGHWAY 641 N	  	CAMDEN	  	TN	  		  	Yes
	1935	  	FERRIDAY, LA	  	2094 EE WALLACE BLVD N	  	FERRIDAY	  	LA	  		  	Yes
	1490	  	DRESDEN, TN	  	8487 HIGHWAY 22	  	DRESDEN	  	TN	  		  	
	1893	  	HOUSTON, MS	  	905 N PONTOTOC ST	  	HOUSTON	  	MS	  		  	Yes

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	2748	  	RICHTON, MS	  	403 FRONT ST	  	RICHTON	  	MS	  		  	Yes
	1165	  	BOLIVAR, TN	  	105 TENNESSEE ST	  	BOLIVAR	  	TN	  		  	Yes
	2490	  	MT. VERNON, GA	  	601 MASON ST	  	MOUNT VERNON	  	GA	  		  	
	1760	  	HAYNESVILLE, LA	  	9270 HIGHWAY 79	  	HAYNESVILLE	  	LA	  		  	Yes
	1805	  	HEBER SPRINGS, AR	  	308 S 7TH ST	  	HEBER SPRINGS	  	AR	  		  	Yes
	2260	  	MORRILTON, AR	  	601 N ST JOSEPH	  	MORRILTON	  	AR	  		  	Yes
	2243	  	MACON, MS	  	59 FRONTAGE RD	  	MACON	  	MS	  		  	Yes
	3235	  	WIGGINS, MS	  	116 2ND STREET SOUTH	  	WIGGINS	  	MS	  		  	Yes
	1095	  	BALD KNOB, AR	  	170 HIGHWAY 167 N	  	BALD KNOB	  	AR	  		  	Yes
	1638	  	DEMOPOLIS, AL	  	505 HWY 80 W	  	DEMOPOLIS	  	AL	  		  	
	1683	  	CHURCH POINT, LA	  	821 S MAIN ST	  	CHURCH POINT	  	LA	  		  	Yes
	1907	  	HAMBURG, AR	  	700 N MAIN ST	  	HAMBURG	  	AR	  		  	Yes
	1570	  	FAIRVIEW, TN	  	2415 FAIRVIEW BLVD	  	FAIRVIEW	  	TN	  		  	Yes
	1305	  	CALHOUN CITY, MS	  	71 HIGHWAY 8 E	  	CALHOUN CITY	  	MS	  		  	Yes
	2687	  	DEQUINCY, LA	  	702 WEST 4TH STREET	  	DEQUINCY	  	LA	  		  	Yes
	2110	  	KOSCIUSKO, MS	  	340 HIGHWAY 12 W	  	KOSCIUSKO	  	MS	  		  	
	2083	  	CHEROKEE VILLAGE, AR	  	200 HOSPITAL DRIVE	  	CHEROKEE VILLAGE	  	AR	  		  	Yes
	2473	  	MANTACHIE, MS	  	67 WATSON DR	  	MANTACHIE	  	MS	  		  	Yes
	1525	  	EUNICE, LA	  	2200 W LAUREL AVE	  	EUNICE	  	LA	  		  	Yes
	6027	  	TOMPKINSVILLE, KY (GD&D)	  	509 NORTH MAIN STREET	  	TOMPKINSVILLE	  	KY	  		  	
	1470	  	DURANT, MS	  	33674 HIGHWAY 12	  	DURANT	  	MS	  		  	Yes
	2890	  	SPRINGHILL, LA	  	1190 S ARKANSAS ST.	  	SPRINGHILL	  	LA	  		  	Yes
	2723	  	KERSHAW, SC	  	405 SOUTH HAMPTON STREET	  	KERSHAW	  	SC	  		  	Yes
	1085	  	BEEBE, AR	  	901 W DEWITT HENRY DR	  	BEEBE	  	AR	  		  	Yes
	2697	  	MANSFIELD, LA	  	400 WASHINGTON AVE	  	MANSFIELD	  	LA	  		  	Yes
	2727	  	KENTWOOD, LA	  	717 AVE G	  	KENTWOOD	  	LA	  		  	Yes
	2725	  	MONTEREY, TN	  	101 WEST COMMERCIAL AVE.	  	MONTEREY	  	TN	  		  	
	3568	  	FAYETTE, AL	  	1128 SECOND AVE. NE	  	FAYETTE	  	AL	  	Yes	  	
	3578	  	BOLIVAR, TN	  	600 NUCKOLLS RD.	  	BOLIVAR	  	TN	  	Yes	  	
	3601	  	VINTON, LA	  	1301 HORRIDGE STREET	  	VINTON	  	LA	  	Yes	  	
	3603	  	TUNICA, MS	  	1068 HWY 61 N.	  	TUNICA	  	MS	  	Yes	  	
	3637	  	HALEYVILLE, AL	  	814 20TH ST	  	HALEYVILLE	  	AL	  	Yes	  	
	3650	  	HEIDELBERG, MS	  	100 MAIN ST	  	HEIDELBERG	  	MS	  	Yes	  	
	3700	  	HAMILTON, AL	  	1360 MILITARY STREET S	  	HAMILTON	  	AL	  	Yes	  	
	3723	  	IOWA, LA	  	510 N. THOMSON AVE.	  	IOWA	  	LA	  	Yes	  	
	3725	  	MORGANTOWN, KY	  	211 SOUTH MAIN STREET	  	MORGANTOWN	  	KY	  	Yes	  	
	3737	  	LEWISPORT, KY	  	1590 4TH STREET	  	LEWISPORT	  	KY	  	Yes	  	
	3811	  	SYLVESTER, GA	  	620 E. FRANKLIN STREET #A	  	SYLVESTER	  	GA	  	Yes	  	
	3815	  	MCRAE, GA	  	112 W. OAK STREET	  	MCRAE	  	GA	  	Yes	  	

													
	 Store #
	  	 Location
	  	 Address
	  	 City
	  	 State
	  	 Xpress
location
	  	 Front stores

only to be

closed

	3860	  	SAINT JOSEPH, LA	  	320 PLANK RD	  	SAINT JOSEPH	  	LA	  	Yes	  	
	3885	  	RIPLEY, TN	  	251 S WASHINGTON ST	  	RIPLEY	  	TN	  	Yes	  	
	3903	  	SUMMERVILLE, GA	  	103 HWY 48	  	SUMMERVILLE	  	GA	  	Yes	  	
	3917	  	SCOTTS HILL, TN	  	640 HWY 114 SOUTH	  	SCOTTS HILL	  	TN	  	Yes	  	
	3920	  	UNION, MS	  	801 E JACKSON RD	  	UNION	  	MS	  	Yes	  	
	3923	  	GREENSBURG, LA	  	6216 HIGHWAY 10	  	GREENSBURG	  	LA	  	Yes	  	
	3925	  	VARDAMAN, MS	  	101 W SWEET POTATO ST	  	VARDAMAN	  	MS	  	Yes	  	
	3937	  	WARE SHOALS, SC	  	743 N GREENWOOD AVE	  	WARE SHOALS	  	SC	  	Yes	  	
	3957	  	LAKE PROVIDENCE, LA	  	303 N. HOOD STREET	  	LAKE PROVIDENCE	  	LA	  	Yes	  	
	3963	  	TRYON, NC	  	38 N. TRADE STREET	  	TRYON	  	NC	  	Yes	  	
	3230	  	WINNFIELD, LA	  	2001 W COURT ST	  	WINNFIELD	  	LA	  	Yes	  	
	3965	  	IDABEL, OK	  	810 SE WASHINGTON ST.	  	IDABEL	  	OK	  	Yes	  	

 EXHIBIT D 

Closed Stores (Wave III) 
  

											
	 STORE #
	  	 LOCATION
	  	 ADDRESS
	  	 CITY
	  	 STATE
	  	 ZIP

	2175	  	LEXINGTON, MS	  	301 YAZOO ST	  	LEXINGTON	  	MS	  	39095
	3368	  	WOODVILLE, MS	  	211 U.S. HWY 61 SOUTH	  	WOODVILLE	  	MS	  	39669
	3053	  	TAYLORSVILLE, MS	  	402 PINE ST	  	TAYLORSVILLE	  	MS	  	39168
	1920	  	INDIANOLA, MS	  	210 HIGHWAY 82 W	  	INDIANOLA	  	MS	  	38751
	2613	  	PELAHATCHIE, MS	  	404 SECOND STREET	  	PELAHATCHIE	  	MS	  	39145
	1683	  	CHURCH POINT, LA	  	821 S MAIN ST	  	CHURCH POINT	  	LA	  	70525
	1893	  	HOUSTON, MS	  	905 N PONTOTOC ST	  	HOUSTON	  	MS	  	38851
	1760	  	HAYNESVILLE, LA	  	9270 HIGHWAY 79	  	HAYNESVILLE	  	LA	  	71038
	1663	  	ALBANY, KY	  	800 N CROSS ST	  	ALBANY	  	KY	  	42602
	2687	  	DEQUINCY, LA	  	702 WEST 4TH STREET	  	DEQUINCY	  	LA	  	70633
	1060	  	ACKERMAN, MS	  	318 N ALFORD	  	ACKERMAN	  	MS	  	39735
	1470	  	DURANT, MS	  	33674 HIGHWAY 12	  	DURANT	  	MS	  	39063
	2925	  	SHERIDAN, AR	  	624 S ROCK ST	  	SHERIDAN	  	AR	  	72150
	2697	  	MANSFIELD, LA	  	400 WASHINGTON AVE	  	MANSFIELD	  	LA	  	71052
	2213	  	LOUISVILLE, GA	  	119 US 1 BY-PASS	  	LOUISVILLE	  	GA	  	30434
	2128	  	LEXINGTON, GA	  	718 ATHENS RD	  	LEXINGTON	  	GA	  	30648
	2780	  	ROLLING FORK, MS	  	901 US 61	  	ROLLING FORK	  	MS	  	39159
	2572	  	SOPERTON, GA	  	4269 W MAIN ST	  	SOPERTON	  	GA	  	30457
	2533	  	OKOLONA, MS	  	511 W MONROE AVENUE	  	OKOLONA	  	MS	  	38860
	1305	  	CALHOUN CITY, MS	  	71 HIGHWAY 8 E	  	CALHOUN CITY	  	MS	  	38916
	1385	  	CLARKSVILLE, AR	  	409 W MAIN ST	  	CLARKSVILLE	  	AR	  	72830
	2243	  	MACON, MS	  	59 FRONTAGE RD	  	MACON	  	MS	  	39341
	2748	  	RICHTON, MS	  	403 FRONT ST	  	RICHTON	  	MS	  	39476
	1660	  	BRINKLEY, AR	  	1131 NORTH CHARLYNE	  	BRINKLEY	  	AR	  	72021
	1165	  	BOLIVAR, TN	  	105 TENNESSEE ST	  	BOLIVAR	  	TN	  	38008
	1907	  	HAMBURG, AR	  	700 N MAIN ST	  	HAMBURG	  	AR	  	71646
	3070	  	TYLERTOWN, MS	  	3000 PIKE 93 N	  	TYLERTOWN	  	MS	  	39667
	1935	  	FERRIDAY, LA	  	2094 EE WALLACE BLVD N	  	FERRIDAY	  	LA	  	71334
	1320	  	CAMDEN, TN	  	195 HIGHWAY 641 N	  	CAMDEN	  	TN	  	38320
	2430	  	NEWTON, MS	  	304 NORTHSIDE DR	  	NEWTON	  	MS	  	39345
	3235	  	WIGGINS, MS	  	116 2ND STREET SOUTH	  	WIGGINS	  	MS	  	39577
	2890	  	SPRINGHILL, LA	  	1190 S ARKANSAS ST.	  	SPRINGHILL	  	LA	  	71075
	2460	  	NORTH CROSSETT, AR	  	1164 HIGHWAY 133 N	  	CROSSETT	  	AR	  	71635
	2150	  	LORETTO, TN	  	534 N MILITARY ST	  	LORETTO	  	TN	  	38469
	1095	  	BALD KNOB, AR	  	170 HIGHWAY 167 N	  	BALD KNOB	  	AR	  	72010
	2083	  	CHEROKEE VILLAGE, AR	  	200 HOSPITAL DRIVE	  	CHEROKEE VILLAGE	  	AR	  	72529
	2723	  	KERSHAW, SC	  	405 SOUTH HAMPTON STREET	  	KERSHAW	  	SC	  	29067

											
	 STORE #
	  	 LOCATION
	  	 ADDRESS
	  	 CITY
	  	 STATE
	  	 ZIP

	2727	  	KENTWOOD, LA	  	734 AVENUE G, HIGHWAY 38	  	KENTWOOD	  	LA	  	70444
	2260	  	MORRILTON, AR	  	601 N ST JOSEPH	  	MORRILTON	  	AR	  	72110
	2473	  	MANTACHIE, MS	  	67 WATSON DR	  	MANTACHIE	  	MS	  	38855
	1525	  	EUNICE, LA	  	2200 W LAUREL AVE	  	EUNICE	  	LA	  	70535
	1570	  	FAIRVIEW, TN	  	2415 FAIRVIEW BLVD	  	FAIRVIEW	  	TN	  	37062
	1085	  	BEEBE, AR	  	901 W DEWITT HENRY DR	  	BEEBE	  	AR	  	72012
	6015	  	MIDDLETON, TN (GD&D)	  	700 S. MAIN STREET	  	MIDDLETON	  	TN	  	38052
	6021	  	SULLIGENT, AL (GD&D)	  	5705 HWY 278	  	SULLIGENT	  	AL	  	35586
	2753	  	REFORM, AL	  	609 1ST AVE W	  	REFORM	  	AL	  	35481
	1713	  	GEORGIANA, AL	  	685 HWY 106 WEST	  	GEORGIANA	  	AL	  	36033
	1723	  	GREENFIELD, TN	  	1207 S MERIDIAN ST	  	GREENFIELD	  	TN	  	38230
	1805	  	HEBER SPRINGS, AR	  	308 S 7TH ST	  	HEBER SPRINGS	  	AR	  	72543EX-10.2

 Exhibit 10.2 

SECOND AMENDMENT TO FORBEARANCE AGREEMENT, 

TENTH AMENDMENT TO CREDIT AGREEMENT, FIFTH 

AMENDMENT TO AMENDED AND RESTATED ADDENDUM 

TO CREDIT AGREEMENT AND THIRD AMENDMENT TO SECURITY AGREEMENT 

THIS SECOND AMENDMENT TO FORBEARANCE AGREEMENT, TENTH AMENDMENT TO CREDIT AGREEMENT, FIFTH AMENDMENT TO AMENDED AND RESTATED ADDENDUM TO
CREDIT AGREEMENT AND THIRD AMENDMENT TO SECURITY AGREEMENT (this “Amendment”) is dated as of July 1, 2019, by and among (A) Fred’s, Inc., a Tennessee corporation (“Parent”); (B) the Subsidiaries of
Parent identified on the signature pages hereto as Borrowers (each of such Subsidiaries, together with Parent, jointly and severally, “Borrowers” and, each, a “Borrower”); (C) the Subsidiaries of Parent
identified as Guarantors on the signature pages hereto (each of such Subsidiaries, jointly and severally, “Guarantors” and, each, a “Guarantor”; Guarantors, together with Borrowers, jointly and severally,
“Loan Parties” and, each, a “Loan Party”); (D) the Lenders party to the Credit Agreement (as defined below); (E) the Co-Collateral Agents party to the Credit Agreement (as
defined below); and (F) Regions Bank, an Alabama bank, in its capacity as administrative agent for Lenders, LC Issuers and other Secured Parties (as defined in the Credit Agreement) (in such capacity, “Administrative Agent”).

 Recitals: 

Loan Parties, Lenders, Swingline Lender, LC Issuers, Co-Collateral Agents and Administrative Agent
have entered into that certain Credit Agreement dated as of April 9, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”). 

Loan Parties, Lenders, Administrative Agent, and certain other parties have entered into that certain Amended and Restated Addendum to Credit
Agreement dated as of January 27, 2017 (as amended, restated, supplemented, or otherwise modified from time to time, the “Addendum”). 

Loan Parties and Administrative Agent have entered into that certain Security Agreement dated as of April 9, 2015 (as amended, restated,
supplemented, or otherwise modified from time to time, the “Security Agreement”). 
 Loan Parties, Lenders, Co-Collateral Agents, Administrative Agent and certain other parties are parties to that certain Forbearance Agreement, Eighth Amendment to Credit Agreement and Fourth Amendment to Amended and Restated Addendum to
Credit Agreement dated May 15, 2019 (as amended, restated, supplemented, or otherwise modified from time to time, the “Forbearance Agreement”). 

Loan Parties have failed to receive (and deliver copies thereof to Administrative Agent) one or more signed, binding and bona fide commitment
letters for a Refinancing Transaction (as such term is defined in the Forbearance Agreement) on or before June 21, 2019, and, as a result thereof, Loan Parties failed to satisfy the Forbearance Condition set forth in Section (4)(m)(iv)
of the Forbearance Agreement (the “Forbearance Condition Breach”). 
 Notwithstanding the existence of the Forbearance
Condition Breach, Loan Parties have requested that (a) Lenders make a Revolving Loan, as more fully set forth below, in an amount that exceeds the Borrowing Base on the date of funding in order to enable Loan Parties to pay certain trade
payables incurred by Loan Parties in the Ordinary Course of Business, and (b) reduce the Aggregate Revolving Commitments to reflect the reduced Borrowing Base as a result of the Liquidation Transactions, and, in each case, Lenders are willing
to do so on the terms and conditions set forth below. 

 Statement of Agreement: 

NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the parties hereto, Loan Parties, Administrative Agent, Co-Collateral Agents and Lenders hereby covenant and agree as follows: 

SECTION 1.    Definitions; Rules of Construction. Unless otherwise specifically defined
herein, each capitalized term used herein (and in the recitals above) that is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement, including capitalized terms that pursuant to
Section 1.3 of the Credit Agreement are defined by reference to their definitions in the UCC. Each reference to “hereof,” “hereunder,” “herein,” and “hereby” and each other similar
reference and each reference to “this Agreement” and each other similar reference contained in the Forbearance Agreement, the Credit Agreement, the Addendum, and the Security Agreement shall from and after the date hereof refer to the
Forbearance Agreement, the Credit Agreement, the Addendum, and the Security Agreement respectively, as amended hereby. 
 SECTION
2.    Amendments to Forbearance Agreement. 
 (a)    New Definitions.
Section 1(a) of the Forbearance Agreement is hereby amended by adding the following new definitions of “Second Amendment” and “Second Amendment Date” in proper alphabetical order: 

“Second Amendment” shall mean that certain Second Amendment to Forbearance Agreement, Tenth Amendment to
Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement dated the Second Amendment Date by and among Loan Parties, Administrative Agent,
Co-Collateral Agents and Lenders. 
 “Second Amendment Date” shall
mean July 1, 2019. 
 (b)    Amendment to Section 7.
Section 7(c) of the Forbearance Agreement is hereby amended by deleting such subsection and by substituting the following in lieu thereof: 

(c)    Reduction of Aggregate Revolving Commitments. The Aggregate Revolving Commitments were
reduced from $210,000,000 to $150,000,000 effective as of the Eighth Amendment Effective Date, further reduced from $150,000,000 to $125,000,000 effective as of June 15, 2019, and further reduced from $125,000,000 to $115,000,000 effective as
of June 17, 2019, and shall be further reduced from $115,000,000 to $97,500,000 effective as of the Second Amendment Date, and further reduced from $97,500,000 to $91,000,000 effective as of July 13, 2019, with each Lender’s share of
any such reduction effective after the Eighth Amendment Effective Date in an amount equal to such Lender’s Pro Rata Share of the Aggregate Revolving Commitments multiplied by the amount of such reduction. Borrowers agree to execute and
deliver amended and restated Revolving Notes and Swingline Notes to evidence each such reduction, promptly upon request of Administrative Agent or the applicable Lender from time to time. 

  
 - 2 - 

 (c)    Amendment to Section 15.
Section 15 of the Forbearance Agreement is hereby amended by inserting the following new sentence immediately following the end of the last sentence of such Section: 

It is acknowledged and agreed that as a result of the Forbearance Condition Breach (as defined in the Second Amendment), Bank of America, N.A.,
in its capacity as a Co-Collateral Agent, and Regions Bank, in its capacities as Administrative Agent and as a Co-Collateral Agent, are not required to release any
Reserves in existence as of the date of this Agreement as contemplated above, notwithstanding the Loan Parties’ delivery (whether or not after the Second Amendment Date) of one or more signed, binding and bona fide commitment letters for a
Refinancing Transaction pursuant to, and as more fully set forth in, Section 31. 

(d)    New Sections. The Forbearance Agreement is hereby amended by adding new Sections 30 and 31 as
follows: 
 30.    Special Advances. Loan Parties acknowledge and agree that they
have requested Lenders to fund a Revolving Loan on or about the Second Amendment Date in the amount of $10,290,411.00 for the purpose of making the payments specifically identified in writing by Loan Parties to Administrative Agent and Co-Collateral Agents as part of the Cash Flow Forecast as in effect on the Second Amendment Date and related daily budget; the funding of the requested Revolving Loan would cause the Aggregate Revolving Obligations
to exceed the Borrowing Base (as defined in the Addendum) after giving effect to the Second Amendment by an amount equal to $12,269,714.00, and, if funded by Lenders, such Revolving Loan would constitute an Overadvance (as defined in the Addendum)
(such requested Overadvance, the “Specified Overadvance”); without limiting the discretion of the Lenders set forth in Section 7(a) above (including as a result of the expiration of the Forbearance Period
as more fully set forth in Section 7 of the Second Amendment), Lenders have no obligation to honor any request for any Revolving Loan, including the Specified Overadvance, but may do so in their discretion; to induce
Lenders to fund the Specified Overadvance, Loan Parties are willing to provide Secured Parties with the additional Collateral referred to in Sections 5 and 8 of the Second Amendment; and, in exchange for such additional Collateral
(Liens on which are to be granted concurrently with the funding of the requested Specified Overadvance), Lenders are willing to, and shall, fund the requested Specified Overadvance (a “Special Advance”) on all of the terms and
conditions contained in the Credit Amendment and the Forbearance Agreement. The principal amount of the Special Advance and all interest accrued thereon shall constitute a part of the Obligations and shall be secured by all of the Collateral, but,
notwithstanding anything to the contrary contained in any of the Loan Documents, shall be deemed the last of the Revolving Loans to be repaid until Payment in Full of all Obligations. If Lenders, in their discretion, elect to honor any request for
an Overadvance after the Second Amendment Date, each such Overadvance shall be deemed to constitute a “Special Advance” and shall be deemed added to each prior Special Advance made by Lenders (including the initial Special Advance made on
or about the Second Amendment Date). The books and records of Administrative Agent related to the Revolving Loans and other Obligations may account for each Special Advance and its repayment pursuant to this Section 30, but
the failure of any such books and records to reflect any such Special Advances or terms of repayment shall not override or otherwise affect any of the provisions of this Section 30. Nothing contained herein shall affect the
ability of Administrative Agent or any Co-Collateral Agent to adjust the Borrowing Base, determine Availability, and apply collections to the Obligations in their discretion. 

31.    Delivery of Commitment Papers. Notwithstanding the existence of the Forbearance
Condition Breach (as defined in the Second Amendment), and without waiving the Forbearance Condition Breach (as defined in the Second Amendment) as in 

  
 - 3 - 

 
existence on the Second Amendment Date, Loan Parties shall continue diligently to pursue (and deliver copies thereof to Administrative Agent) one or more signed, binding and bona fide commitment
letters for a Refinancing Transaction, which commitment letters shall have conditionality that is limited and that are otherwise in form and substance satisfactory to Administrative Agent and each
Co-Collateral Agent in their respective discretion (it being understood that all draft commitment letters delivered to Administrative Agent and each Co-Collateral Agent
on or before the Second Amendment Date do not have conditionality that is limited and are not otherwise in form and substance satisfactory to Administrative Agent and each Co-Collateral Agent). 

SECTION 3.    Amendments to Credit Agreement. 

(a)    Amendment to Existing Definition. Section 1.1 of the Credit Agreement is hereby
amended by deleting the following definition therein in its entirety and by substituting the following in lieu thereof: 

“Aggregate Revolving Commitments” shall mean, collectively, the Revolving Commitments of all Lenders. As of
July 1, 2019, the amount of the Aggregate Revolving Commitments is $97,500,000; provided, that the Aggregate Revolving Commitments shall be permanently reduced on July 13, 2019, from $97,500,000 to $91,000,000, which reductions in
the Aggregate Revolving Commitments shall be applied to reduce the Revolving Commitments of each Lender on a ratable basis in accordance with its Pro Rata Share of the Aggregate Revolving Commitments (immediately prior to giving effect to any such
reduction). Effective as of the date of such reduction in the Aggregate Revolving Commitments, Schedule 1 shall be deemed to be automatically amended to reflect such reduction. 

(b)    Amendment to Schedules. Schedule 1 to the Credit Agreement (Commitments) is hereby amended by
deleting such schedule and substituting in lieu thereof Schedule 1 to this Amendment. 
 SECTION
4.    Amendment to Addendum. Section 7 of the Addendum is hereby amended by deleting the last paragraph of such section in its entirety and by substituting the following in lieu thereof

 In addition to the foregoing, no later than 2:00 p.m. on each Business Day, commencing July 2, 2019,
Borrowers shall deliver to Administrative Agent an update to the most recent monthly Borrowing Base Certificate with respect to Borrowers’ Inventory prepared as of the close of business on the immediately preceding calendar day substantially in
the form of a Borrowing Base Certificate or in such other form as may be acceptable to Administrative Agent from time to time in its discretion (such Borrowing Base Certificate, as so updated, shall, for all purposes under this Addendum and the
other Loan Documents, constitute the most recently delivered Borrowing Base Certificate hereunder). 
 SECTION
5.    Additional Collateral. 
 (a)    Each Loan Party hereby acknowledges, ratifies,
restates and affirms to Administrative Agent, each Co-Collateral Agent, each Lender, and each other Secured Party such Loan Party’s grant of a continuing security interest in and Lien on, and hereby
grants (to the extent that such Loan Party has not previously granted a security interest in and Lien on such Collateral pursuant to the Security Agreement) a security interest in and Lien on, all of the Collateral in favor of Administrative Agent,
for the benefit of Secured Parties, as security for the Obligations. Loan Parties hereby acknowledge, confirm and agree (i) 

  
 - 4 - 

 
that the Security Documents and any and all Collateral previously pledged to Administrative Agent, for the benefit of Secured Parties, pursuant thereto, shall continue to secure all applicable
Obligations of Loan Parties at any time and from time to time outstanding under the Credit Agreement and the other Loan Documents, as such Obligations have been amended pursuant to this Amendment, and (ii) nothing herein shall nor is it
intended to (A) constitute a novation or accord and satisfaction with respect to the Loan Documents or (B) operate as a waiver of any right, power or remedy of Administrative Agent, any Co-Collateral
Agent, any Lender or any other Secured Party under any Loan Document. 
 (b)    From and after the Second Amendment
Date, for good and valuable consideration, including Lenders’ agreement to fund the initial Special Advance and subject to the terms hereof, the Collateral under (and as defined in) the Security Agreement shall be deemed to include, and the
Security Agreement shall be deemed amended so that the term Collateral includes, all of the following types and items of Property of each Loan Party, whether now owned or hereafter created, acquired or arising, and wherever located, to the extent
that such Loan Party has not previously granted a security interest therein pursuant to the Security Agreement, and to secure the full and final payment and performance of all Obligations, and each Loan Party hereby grants to Administrative Agent,
for the benefit of Secured Parties, a continuing security interest and Lien upon all such Property, as follows: 
 (i)
    all Accounts, including all Pharmacy Receivables, all Credit Card Receivables, and other accounts and receivables, whether constituting Accounts or General Intangibles; 

(ii)    all Chattel Paper, including Electronic Chattel Paper; 

(iii)    all Commercial Tort Claims, including those set forth in Schedule 2 to this Amendment; 

(iv)    all Deposit Accounts, all Securities Accounts and all Commodity Accounts, together with all cash,
Instruments, Commodity Contracts, and other amounts and other Property at any time on deposit therein, credited thereto or evidenced thereby; 

(v)    all Documents; 

(vi)    all General Intangibles, including all Payment Intangibles, Intellectual Property, Pharmacy
Scripts, and related customer lists; 
 (vii)    all Goods, including all Inventory, Equipment, and all
Fixtures; 
 (viii)    all Instruments; 

(ix)    all Investment Property, including the Equity Interests described on Schedule 3 to this Amendment;

 (x)    all
Letter-of-Credit Rights; 

(xi)    all Supporting Obligations; 

(xii)    all cash proceeds received by a Loan Party or any of its Subsidiaries not in the Ordinary Course
of Business (other than from the issuance of Equity Interests, the incurrence of Debt, the disposition of Collateral or any insured casualty loss), including, without limitation, (i) foreign, United States, state or local tax refunds,
(ii) pension plan reversions, (iii) judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action, (iv) condemnation awards (and payments in lieu thereof), (v) indemnity payments and
(vi) any adjustment received in connection with any purchase price in respect of an Acquisition; 

  
 - 5 - 

 (xiii)    all money, cash, Cash Investments and other
Property at any time in the possession of, or under the control of, Administrative Agent, a Lender or another Secured Party, or a bailee, agent, correspondent or Affiliate of Administrative Agent, a Lender, or another Secured Party, including any
Cash Collateral; 
 (xiv)    all Accessions to, substitutions for, and all replacements, products, and
cash and non-cash Proceeds of any of the foregoing, including Proceeds of and unearned premiums with respect to insurance policies, and claims against any Person for loss, damage, or destruction of any
Collateral 
 (xv)    all books and records (including customer lists, files, correspondence, tapes,
computer programs, print-outs, and computer records) pertaining to the foregoing; and 
 (xvi)     to the
extent not set forth above, all other personal property of such Loan Party. 
 SECTION 6.    Agreement
Regarding Additional Real Estate Collateral. In addition to the requirements of Sections 8 and 9 regarding the Distribution Center located at 2815 GA Highway 257, Dublin, Georgia 31021 (the “Dublin DC”),
promptly (and in any event within two (2) Business Days) after Administrative Agent’s or any Co-Collateral Agent’s request therefor, each Loan Party agrees, at its own expense, to deliver to
Administrative Agent the following with respect to any owned or leased Real Estate of such Loan Party: 

(a)    a mortgage, deed of trust, or deed to secure debt pursuant to which such Loan Party grants to
Administrative Agent, for the benefit of Secured Parties, Liens upon such Real Estate as security for the Obligations (a “Mortgage”), 

(b)    if required by Administrative Agent or such Co-Collateral
Agent, a mortgagee title insurance policy or unconditional commitment therefor in American Land Title Association (“ALTA”) format, issued by one or more nationally recognized title insurance companies (“title
companies”), satisfactory to Administrative Agent or such Co-Collateral Agent (a “Title Policy”) with respect to such Real Estate, in an amount not less than the fair market value of
such Real Estate, together with (A) a title report issued by a title company satisfactory to Administrative Agent or such Co-Collateral Agent with respect thereto, and copies of all recorded documents
listed as exceptions to title or otherwise referred to therein, and (B) evidence satisfactory to Administrative Agent or such Co-Collateral Agent that Borrowers have paid to the title company or to the
appropriate Governmental Authority all expenses and premiums of the title company and all other sums required in connection with the issuance of each Title Policy and all recording and stamp taxes (including mortgage recording and intangible taxes)
payable in connection with recording the Mortgage for such Real Estate in the appropriate real estate records; 

(c)    if required by Administrative Agent or such Co-Collateral
Agent, assignments of leases, estoppel letters, attornment agreements, consents, waivers, and releases with respect to other Persons having an interest in such Real Estate; 

(d)    if required by Administrative Agent or such Co-Collateral
Agent, a current, as-built survey in ALTA format of such Real Estate, containing a metes-and-bounds property description (or
other form of description requested or approved by Administrative Agent) certified by a registered and licensed land surveyor acceptable to Administrative Agent or such Co-Collateral Agent; 

  
 - 6 - 

 (e)    if required by Administrative Agent or such Co-Collateral Agent, a current Qualified Appraisal of such Real Estate; 

(f)    if required by Administrative Agent or such Co-Collateral
Agent, an environmental assessment regarding such Real Estate, prepared by environmental engineers acceptable to Administrative Agent, and accompanied by such reports, certificates, studies, or data as Administrative Agent or such Co-Collateral Agent may require in regard thereto, or, if permitted by Administrative Agent or such Co-Collateral Agent, environmental insurance pursuant to a policy, and
issued by an underwriter, acceptable to Administrative Agent or such Co-Collateral Agent; 

(g)    if required by Administrative Agent or such Co-Collateral
Agent, a Fixture Filing; 
 (h)    if required by Administrative Agent or such Co-Collateral Agent, an opinion from counsel licensed to practice in the jurisdiction in which such Real Estate is located, addressing, among other things, the enforceability of such Mortgage and the attachment and
perfection of Administrative Agent’s Lien in and to such Real Estate; 
 (i)    if required by
Administrative Agent or such Co-Collateral Agent, and to the extent not otherwise contained herein, an agreement of a Credit Party to indemnify Administrative Agent and Lenders from liability under
Environmental Laws with respect to, and covering, such Real Estate; and 
 (j)    such other documents,
instruments, or agreements as Administrative Agent or such Co-Collateral Agent may require with respect to such Real Estate or such Mortgage; 

provided, that, in no event shall Administrative Agent or any Co-Collateral Agent be entitled to require
delivery of any the foregoing with respect to (x) the Memphis Property prior to July 5, 2019 or (y) any Real Estate listed on Schedule 4 to this Amendment so long as there is a valid and binding sale contract with respect to
such Real Estate that has not been terminated in accordance with its terms; provided, further, that no Mortgage shall be executed, delivered or recorded in regard to any Real Estate unless and until each Lender has completed all flood
insurance due diligence with respect to such Real Estate or waived any such due diligence, and in connection therewith, but without limitation thereof, executed flood hazard determinations and a flood zone certification (together with notice to
Parent regarding such flood zone certification) in regard to such Real Estate and to the extent that any thereof is located in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards that
participates in the National Flood Insurance Program, evidence of flood insurance, in an amount determined to be adequate by Administrative Agent and each Co-Collateral Agent, naming Administrative Agent as
mortgagee in regard thereto, together with such other documentation and coverages, each in compliance with the Flood Disaster Protection Act of 1973, as amended, including all requirements imposed relative thereto by the National Flood Insurance
Program and other Applicable Laws, all of which shall be satisfactory in form and substance to Administrative Agent and each Lender. 

SECTION 7.    No Waiver of Forbearance Condition Breach. The entry of Administrative Agent, Co-Collateral Agents, and Lenders into this Amendment shall not constitute a waiver of the Forbearance Condition Breach, and, as a result of the Forbearance Condition Breach, the Forbearance Termination Date has
occurred and the Forbearance Period has ended; as a result thereof, each of 

  
 - 7 - 

 
Administrative Agent, each Co-Collateral Agent and each Lender may elect, at any time and without further notice to or demand upon any Loan Party,
terminate Administrative Agent’s, each Co-Collateral Agent’s and each Lender’s agreement to forbear as set forth in Section 3 of the Forbearance Agreement, and
Administrative Agent, each Co-Collateral Agent and each Lender shall thereupon have and may exercise from time to time all of the remedies available to such Secured Party under the Loan Documents and
Applicable Law as a consequence of an Event of Default, without further notice to or demand upon any Loan Party or any other Person, and any such continued forbearance is optional and revocable in Administrative Agent’s, any Co-Collateral Agent’s or any Lender’s respective discretion at any time. 
 SECTION
8.    Conditions Precedent. This Amendment shall become effective only upon satisfaction of the following conditions precedent, as determined by Administrative Agent in its discretion: 

(a)    Administrative Agent shall have received this Amendment, duly executed and delivered by Loan Parties, Co-Collateral Agents and Lenders; 
 (b)    Administrative Agent shall have received a
deed to secure debt pursuant to which Parent grants to Administrative Agent a Lien on the Dublin DC as security for the Obligations, including any assignment of leases and rents, security agreement and Fixture Filing included as part thereof, duly
executed and delivered by Parent, which shall be in form and substance acceptable to Co-Collateral Agents; 

(c)    Administrative Agent shall have received amended and restated Revolving Notes to reflect the reduced Revolving
Commitments of Lenders as contemplated hereby, duly executed and delivered by Borrowers; 
 (d)    Administrative Agent
shall have received an update to the most recent monthly Borrowing Base Certificate with respect to Borrowers’ Inventory prepared as of the close of business on June 28, 2019 substantially in the form of a Borrowing Base Certificate or in
such other form as may be acceptable to Administrative Agent in its discretion; 
 (e)    Administrative Agent shall
have received payment of (i) any fees due and payable to Administrative Agent, any Co-Collateral Agent or any Lender pursuant to the Credit Agreement, this Amendment or any fee letter executed and
delivered in connection therewith or herewith, and (ii) all costs and expenses incurred by Administrative Agent, any Co-Collateral Agent or any Lender in connection with this Amendment, including the
preparation, negotiation and execution of this Amendment and all accrued costs and expenses of consultants and financial advisors employed or retained by Administrative Agent, any Co-Collateral Agent or any
Lender in connection with the negotiation of this Amendment; 
 (f)    Administrative Agent shall have received a
certificate of a duly authorized officer of each Loan Party, certifying that an attached copy of resolutions authorizing execution and delivery of this Amendment and the Loan Documents contemplated hereby is true and complete, and that such
resolutions are in full force and effect, were duly adopted by the appropriate governing body, have not been amended, modified, or revoked, and constitute all resolutions adopted with respect to this Amendment and the transactions contemplated
hereby; and 
 (g)    Administrative Agent shall have received all other documents, instruments, certificates and
agreements (if any) as Administrative Agent shall have reasonably requested in connection with the foregoing, each in form and substance reasonably satisfactory to Administrative Agent. 

  
 - 8 - 

 SECTION 9.    Conditions Subsequent.
Promptly (and in any event within (x) two (2) Business Days, with respect to clauses (a) and (b) below, and (y) nine (9) days, with respect to clause (c) below) after the date hereof, Parent agrees, at its own expense, to
satisfy (or cause to be satisfied) the following conditions subsequent, as determined by Administrative Agent in its discretion: 

(a)    Administrative Agent shall have received confirmation from each Lender that such Lender has completed all flood
insurance due diligence with respect to the Dublin DC, which may include executed flood hazard determinations and a flood zone certification (together with notice to Parent regarding such flood zone certification) in regard to the Dublin DC, all of
which shall be satisfactory in form and substance to Administrative Agent and each Lender; 
 (b)    To the extent that
any portion of the Dublin DC is located in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards that participates in the National Flood Insurance Program, Administrative Agent shall have received
evidence of flood insurance, in an amount determined to be adequate by each Co-Collateral Agent, naming Administrative Agent as mortgagee in regard thereto, together with such other documentation and
coverages, each in compliance with the Flood Disaster Protection Act of 1973, as amended, including all requirements imposed relative thereto by the National Flood Insurance Program, and other Applicable Laws, all of which shall be satisfactory in
form and substance to Administrative Agent and each Lender; and 
 (c)    Administrative Agent shall have received
confirmation from each Co-Collateral Agent that such Co-Collateral Agent has received evidence from Loan Parties, satisfactory to such
Co-Collateral Agent in its discretion, that Parent has good, marketable and insurable fee simple title to the Dublin DC. 

SECTION 10.    Acknowledgement and Stipulations by Loan Parties. Each Loan Party acknowledges,
stipulates and agrees that (a) as of the close of business on June 27, 2019, the aggregate principal balance of Revolving Loans totaled $55,930,757.26, exclusive of costs and attorneys’ fees chargeable to Borrowers under the Loan
Documents, and the LC Obligations totaled $8,607,225.00; (b) all of the Obligations are absolutely due and owing by Loan Parties to Administrative Agent, each Co-Collateral Agent, each Lender and each other
Secured Party without any defense, deduction, offset or counterclaim (and, to the extent any Loan Party had any defense, deduction, offset or counterclaim on the date hereof, the same is hereby waived); (c) the Loan Documents executed by such Loan
Party are legal, valid and binding obligations of such Loan Party enforceable against such Loan Party in accordance with their terms; (d) the security interests and other Liens granted by such Loan Party to Administrative Agent (for the benefit
of the Secured Parties) in the Collateral are duly perfected, first priority security interests and Liens; (e) each of the recitals contained at the beginning of this Amendment is true and correct; and (f) prior to executing this
Amendment, such Loan Party consulted with and had the benefit of advice of legal counsel of its own selection and such Loan Party has relied upon the advice of such counsel and in no part upon any representation of Administrative Agent, any Co-Collateral Agent, any Lender or any other Secured Party concerning the legal effects of this Amendment or any provision hereof. Further, each Loan Party represents and warrants that no breach of the Forbearance
Conditions (as such term is defined in the Forbearance Agreement) has occurred prior to the date hereof other than the Forbearance Condition Breach. 

SECTION 11.    Miscellaneous Terms. 

(a)    Loan Document. For avoidance of doubt, the parties hereto hereby acknowledge and agree that this Amendment is
a Loan Document. 

  
 - 9 - 

 (b)    Effect of Amendment. All amendments set forth herein shall
become effective as of the date on which all of the conditions precedent set forth in Section 8 hereof are satisfied (the “Effective Date”). Except as otherwise may be set forth expressly hereinabove, all
terms of the Credit Agreement, the Forbearance Agreement, and the other Loan Documents shall be and remain in full force and effect, and shall constitute the legal, valid, binding, and enforceable obligations of Loan Parties. Except to the extent
otherwise expressly set forth herein, the amendments set forth herein shall have prospective application only from and after the Effective Date. 

(c)    No Novation or Mutual Departure. Loan Parties expressly acknowledge and agree that (i) there has not
been, and this Amendment does not constitute or establish, a novation with respect to the Forbearance Agreement, the Credit Agreement, the Addendum, the Security Agreement, or any of the other Loan Documents, or a mutual departure from the strict
terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections 2, 3, 4 and 5 above, and (ii) nothing in this Amendment shall affect or limit Administrative
Agent’s, Co-Collateral Agents’ or Lenders’ right to demand payment of liabilities owing from Loan Parties to Administrative Agent, Co-Collateral Agents or
Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement, the Forbearance Agreement, the Credit Agreement, the Addendum, the Security Agreement, and the other Loan Documents, to exercise any and
all rights, powers, and remedies under the Credit Agreement, the Forbearance Agreement, the Credit Agreement, the Addendum, the Security Agreement, or the other Loan Documents or at law or in equity, or to do any and all of the foregoing,
immediately at any time after the breach of a Forbearance Condition (as such term is defined in the Forbearance Agreement), other than with respect to the agreements set forth in Section 30 of the Forbearance Agreement, as
amended by this Amendment. 
 (d)    Counterparts. This Amendment 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 counterparts, taken together, shall constitute but one and the same instrument.
This Amendment may be executed by each party on separate copies, which copies, when combined so as to include the signatures of all parties, shall constitute a single counterpart of this Amendment. 

(e)    Fax or Other Transmission. Delivery by one or more parties hereto of an executed counterpart of this
Amendment via facsimile, telecopy, or other electronic method of transmission pursuant to which the signature of such party can be seen (including, without limitation, Adobe Corporation’s Portable Document Format) shall have the same force and
effect as the delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by facsimile, telecopy, or other electronic method of transmission shall also deliver an original executed
counterpart, but the failure to do so shall not affect the validity, enforceability, or binding effect of this Amendment. 

(f)    Recitals Incorporated Herein. The preamble and the recitals to this Amendment are hereby incorporated herein
by this reference. 
 (g)    Section References. Section titles and references used in this Amendment shall be
without substantive meaning or content of any kind whatsoever and are not a part of the amendments and other agreements among the parties hereto evidenced hereby. 

(h)    Further Assurances. Each Loan Party agrees to take, at such Loan Party’s expense, such further actions
as Administrative Agent shall request from time to time to evidence the amendments and other agreements set forth herein and the transactions contemplated hereby. 

  
 - 10 - 

 (i)    Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF GEORGIA, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES OR OTHER RULE OF LAW WHICH WOULD CAUSE THE APPLICATION OF THE LAW OF ANY JURISDICTION OTHER THAN THE LAWS OF THE
STATE OF GEORGIA (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). 
 (j)    Severability. Any
provision of this Amendment which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or
enforceability of such provision in any other jurisdiction. 
 (k)    Breach of Amendment. This Amendment shall
be part of the Forbearance Agreement and a breach of any representation, warranty or covenant herein shall constitute a breach of the Forbearance Condition set forth in Section 4(a) of the Forbearance Agreement. 

(l)    Release of Claims. To induce Administrative Agent, each
Co-Collateral Agent and each Lender to enter into this Amendment, each Loan Party, for itself and on behalf of such Loan Party’s officers, directors, subsidiaries, successors and assigns (collectively
with each Loan Party, collectively, “Releasors” and, each individually, a “Releasor”) hereby (i) RELEASES, ACQUITS AND FOREVER DISCHARGES Administrative Agent, each Lender, each
Co-Collateral Agent and each other Secured Party, and all officers, directors, agents, employees, successors and assigns of Administrative Agent, each Lender, each
Co-Collateral Agent and each other Secured Party, from any and all liabilities, claims, demands, actions or causes of action of any kind or nature (if there be any), whether absolute or contingent, disputed or
undisputed, at law or in equity, or known or unknown, that such Releasor now has or ever had against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party arising under or in
connection with any of the Loan Documents or otherwise and (ii) covenants and agrees not to institute or cause to be instituted or continue prosecution of any suit or other form of action or proceeding of any kind or nature whatsoever against
Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, or any officer, director, agent, employee, successor or assign of Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, by reason of or in connection with any of the foregoing liabilities, claims, demands, actions or causes of action. Each Loan Party represents and warrants to
Administrative Agent and each Lender that such Loan Party has not transferred or assigned to any Person any claim that such Loan Party ever had or claimed to have against Administrative Agent, any Lender, any
Co-Collateral Agent or any other Secured Party. 
 [Remainder of page intentionally left blank;
signatures appear on the following pages] 

  
 - 11 - 

 IN WITNESS WHEREOF, each party hereto has caused this Amendment to be duly executed
and delivered under seal by its duly authorized officer or other representative as of the day and year first above written. 
  

			
	BORROWERS:
	
	FRED’S, INC., a Tennessee corporation,
	as “Borrower Agent” and a “Borrower”
		
	By:	 	 /s/ Ritwik Chatterjee

	Name:	 	 Ritwik Chatterjee

	Title:	 	 Chief Financial Officer

	
	[CORPORATE SEAL]
	
	FRED’S STORES OF TENNESSEE, INC.,
	a Delaware corporation, as a “Borrower”
		
	By:	 	 /s/ Ritwik Chatterjee

	Name:	 	 Ritwik Chatterjee

	Title:	 	 Chief Financial Officer

	
	[CORPORATE SEAL]
	
	NATIONAL PHARMACEUTICAL NETWORK, INC., a Florida corporation, as a “Borrower”
		
	By:    	 	 /s/ Ritwik Chatterjee

	Name:	 	 Ritwik Chatterjee

	Title:	 	 Chief Financial Officer

	
	[CORPORATE SEAL]
	
	REEVES-SAIN DRUG STORE, INC.,
	a Tennessee corporation, as a “Borrower”
		
	By:    	 	 /s/ Ritwik Chatterjee

	Name:	 	 Ritwik Chatterjee

	Title:	 	 Chief Financial Officer

	
	[CORPORATE SEAL]

 [Signatures continue on following pages.] 

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 
			
	GUARANTOR:
	
	505 N. MAIN OPP, LLC,
	a Delaware limited liability company, as a “Guarantor”

 
			
		
	By:	 	 /s/ Ritwik Chatterjee

	Name:	 	 Ritwik Chatterjee

	Title:	 	 Chief Financial Officer

	
	[SEAL]

 [Signatures continue on following pages.] 

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 
			
	 ADMINISTRATIVE AGENT:

	
	 REGIONS BANK, as “Administrative Agent”

		
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director
	
	CO-COLLATERAL AGENTS:
	
	REGIONS BANK, as a “Co-Collateral Agent”
		
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director

 [Signatures continue on following page.] 

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 
			
	BANK OF AMERICA, N.A., as a “Co-Collateral Agent”
		
	By:	 	 /s/ Betsy Ratto

	Name:	 	 Betsy Ratto

	Title:	 	 Managing Director

 [Signatures continue on following page.] 

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 
			
	LENDERS:
	
	REGIONS BANK
		
	By:	 	 /s/ Gene Wilson

	Name:	 	Gene Wilson
	Title:	 	Managing Director

 [Signatures continue on following page.] 

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Betsy Ratto

	Name:	 	 Betsy Ratto

	Title:	 	 Managing Director

  
 Second Amendment to Forbearance
Agreement, Tenth Amendment to Credit Agreement, Fifth Amendment to Amended and Restated Addendum to Credit Agreement and Third Amendment to Security Agreement (Fred’s) 

 SCHEDULE 1 

Commitments 
  

					
	 Lender
	  	Revolving Commitment	 
	 Regions Bank
	  	$	48,750,000.00	 
	 Bank of America, N.A.
	  	$	48,750,000.00	 

 SCHEDULE 2 

Commercial Tort Claims 

None. 

 SCHEDULE 3 

Investment Property 
 Securities
Accounts 
 None. 
 Securities 

Fred’s, Inc. 
  

			
	 Name and Address of Securities Issuer:
	 	Metlife Trust Interests
		
	Type of Equity Interest Evidenced by Such Securities:	 	Shares held at Computershare (transfer agent for Metlife)
		
	Certificated or Uncertificated:	 	
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

  

			
	 Name and Address of Securities Issuer:
	 	Fred’s Stores of Tennessee, Inc., a Delaware corporation
		
	Type of Equity Interest Evidenced by Such Securities:	 	Common Stock
		
	Certificated or Uncertificated:	 	Certificated
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	Replacement Stock Certificate for 1,641 shares of Common Stock, $0.001 par value per share

  

			
	 Name and Address of Securities Issuer:
	 	National Equipment Management and Leasing, Inc., a Tennessee corporation
		
	Type of Equity Interest Evidenced by Such Securities:	 	Common Stock
		
	Certificated or Uncertificated:	 	
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

 Fred’s Stores of Tennessee, Inc. 
  

			
	 Name and Address of Securities Issuer:
	 	Reeves-Sain Drug Store, Inc., a Tennessee corporation
		
	Type of Equity Interest Evidenced by Such Securities:	 	Common Stock
		
	Certificated or Uncertificated:	 	Certificated
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	Stock Certificate No. 5 for 500 shares of Common Stock, no par value per share

			
	 Name and Address of Securities Issuer:
	 	National Pharmaceutical Network, Inc., a Florida corporation
		
	Type of Equity Interest Evidenced by Such Securities:	 	Common Stock
		
	Certificated or Uncertificated:	 	
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

  

			
	 Name and Address of Securities Issuer:
	 	Summit Properties-Jacksboro, LLC, an Arkansas limited liability company
		
	Type of Equity Interest Evidenced by Such Securities:	 	Membership Interests
		
	Certificated or Uncertificated:	 	Uncertificated
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

  

			
	 Name and Address of Securities Issuer:
	 	Summit Properties-Bridgeport, LLC, an Arkansas limited liability company
		
	Type of Equity Interest Evidenced by Such Securities:	 	Membership Interests
		
	Certificated or Uncertificated:	 	Uncertificated
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

  

			
	 Name and Address of Securities Issuer:
	 	505 N. Main, LLC, a Delaware limited liability company
		
	Type of Equity Interest Evidenced by Such Securities:	 	Membership Interests
		
	Certificated or Uncertificated:	 	Uncertificated
		
	If Certificated, Certificate Numbers, and Number of Shares or Other Type of Equity Interest Evidenced by Such Certificates:	 	

 Commodity Accounts 
 None.

 Promissory Notes, Evidences of Indebtedness, and Other Instruments 

None. 
 Leases, Security Agreements, and Other Chattel Paper

 None. 

 SCHEDULE 4 

Real Estate 
  

													
	 1.
	  	2308 S CARAWAY RD	  	JONESBORO	  	 	AR	 	  	 	72401	 
	 2.
	  	700 E CHEROKEE ST	  	WAGONER	  	 	OK	 	  	 	74467	 
	 3.
	  	2415 FAIRVIEW BLVD	  	FAIRVIEW	  	 	TN	 	  	 	37062	 
	 4.
	  	605 S JACKSON ST	  	STARKVILLE	  	 	MS	 	  	 	39759	 
	 5.
	  	475 HIGHWAY 6 E	  	BATESVILLE	  	 	MS	 	  	 	38606	 
	 6.
	  	2227 N WASHINGTON ST	  	FORREST CITY	  	 	AR	 	  	 	72335	 
	 7.
	  	218 S WHITWORTH AVE	  	BROOKHAVEN	  	 	MS	 	  	 	39601	 
	 8.
	  	801 TURKEY CREEK TRL	  	BRIDGEPORT	  	 	TX	 	  	 	76426	 
	 9.
	  	618 N MAIN ST	  	JACKSBORO	  	 	TX	 	  	 	76458

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