Document:

First Amendment dated April 2, 2009

 Exhibit 10.1 
 Execution Copy 
 FIRST AMENDMENT 
 FIRST AMENDMENT, dated as of April 2, 2009 (this “Amendment”), to and under the Amended and Restated Term Loan Agreement, dated as
of June 21, 2005 and amended and restated as of April 4, 2007 (the “Loan Agreement”), among Eddie Bauer Holdings, Inc. (“Holdings”), Eddie Bauer, Inc. (the “Borrower”), the several lenders
from time to time party to the Loan Agreement (collectively, the “Lenders”), Goldman Sachs Credit Partners L.P., as syndication agent (in such capacity along with any successor, the “Syndication Agent”), and
JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders (in such capacity along with any successor, the “Administrative Agent” and, together with the Syndication Agent, the “Agents”).

 W I T N E S S E T H : 
 WHEREAS, Holdings, the Borrower, the Lenders and the Agents are parties to the Loan Agreement; and 
 WHEREAS, Holdings and the
Borrower have requested that the Lenders agree to amend and waive certain provisions of the Loan Agreement and the Lenders are agreeable to such request but only upon the terms and subject to the conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, and for other valuable consideration the receipt of which is
hereby acknowledged, Holdings, the Borrower and the Lenders agree as follows: 
 SECTION 1. DEFINITIONS. Unless otherwise defined herein,
capitalized terms are used herein as defined in the Loan Agreement. 
 SECTION 2. AMENDMENTS. 
 2.1 Amendments to Section 1.1. 
 (a) Section 1.1 of the Loan Agreement is hereby amended by deleting therefrom the definitions of “ABR”, “Applicable Margin”, “Consolidated Senior Secured Debt”, “Continuing
Directors”, “Eurodollar Base Rate”, “Eurodollar Rate”, “Loan”, “Pricing Grid” and “Term Percentage” in their entireties and inserting the following new
definitions in the appropriate alphabetical order: 
 “ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on
such day plus  1/2 of 1%, (c) the Eurodollar Rate for a one month Interest Period on such day (or if such day is 

 
not a Business Day, the immediately preceding Business Day) plus 1.00%, provided that, for the avoidance of doubt, the Eurodollar Rate for any day
shall be based on the rate appearing on the Reuters BBA Libor Rates Page 3750 (or on any successor or substitute page of such page) at approximately 11:00 a.m. London time on such day, and (d) 4.00% per annum (such rate specified in this
clause (d), the “Minimum ABR Rate”); provided, however, that the Minimum ABR Rate shall be reduced in increments of 0.01% until the Minimum ABR Rate exceeds the rate otherwise applicable under clause (a), (b) or
(c) hereof by no more than 1.50%. Any change in the ABR due to a change in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar Rate shall be effective from and including the effective date of such change in the Prime Rate or, the
Federal Funds Effective Rate or the Eurodollar Rate, respectively. 
 “Additional First Amendment PIK Fees”:
as defined in Section 5.13(d). 
 “Additional Warrants”: as defined in Section 5.13(c). 

“Aggregate Initial First Amendment PIK Fees”: 5% of the Qualifying Lenders’ Term Percentages of the Loans
outstanding on the First Amendment Effective Date. 
 “Applicable Margin”: for each Loan, the rate per annum
equal to 5.25%, in the case of Eurodollar Loans, and 4.25%, in the case of ABR Loans. 
 “Board Expansion
Event”: as defined in Section 5.16(e) 
 “Consolidated Senior Secured Debt”: at any time, the
aggregate amount of Consolidated Total Debt, excluding (w) the First Amendment PIK Fees, (x) the Convertible Notes, (y) any Permitted Junior Lien Debt and (z) Indebtedness that is not secured by a Lien. 
 “Continuing Directors”: the directors of Holdings on the Restatement Effective Date, and each other director, if, in each
case, such other director’s nomination for election to the board of directors of Holdings is recommended by at least 66 2/3% of the then Continuing Directors. Notwithstanding anything to the contrary herein, any director nominated pursuant to
Section 5.16 shall be deemed to be a Continuing Director, if elected. 
 “Covenant Relief Equity
Condition”: as defined in Section 6.1(a) 
 “Debt Reduction Event”: as defined in
Section 5.13(a). 
 “Deferred First Amendment Cash Fee”: as defined in Section 5.14. 
 “Designated Director”: as defined in Section 5.16(a). 
  

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 “Designating Lender” shall mean the Qualifying Lender (or its permitted
assignee) that, as of the date of the action to be taken by a Designating Lender or other determination date as set forth herein, is the largest single holder of Loans on the date thereof as determined based solely on the records of the Borrower on
such date; provided, however, that to be a Designating Lender, such Qualifying Lender (or its permitted assignee) must represent to Holdings in writing that as of the date of determination it is not a “person” or a member of
a “group of persons” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) which is or has obtained rights (whether by means of warrant, options or otherwise) to become the
“beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 of the Securities Exchange Act of 1934, as amended), directly or indirectly, of 19.9% or more of the capital stock of Holdings. If a Qualifying Lender (or its permitted assignee)
cannot or will not make the representation required in the proviso to the immediately preceding sentence, then the Borrower shall progressively inquire of the Qualifying Lender (or its permitted assignee) with the next largest holdings of Loans
until it identifies a Qualifying Lender (or its permitted assignee) which makes such representation. With respect to Section 5.16(c), the Designating Lender shall be identified based on the ownership of Loans as of January 15 of such year.

 “Eurodollar Base Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar
Loan, the rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to such Interest Period commencing on the first day of such Interest Period appearing on Reuters BBA LIBOR Rates Page 3750 (or any successor or
substitute page of such page) as of 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period. In the event that such rate does not appear on Reuters BBA LIBOR Rates Page 3750 (or otherwise on such screen), the
“Eurodollar Base Rate” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be selected by the Administrative Agent or, in the absence of such availability, by
reference to the rate at which the Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New York City time, two Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where its eurodollar
and foreign currency and exchange operations are then being conducted for delivery on the first day of such Interest Period for the number of days comprised therein. 
 “Eurodollar Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a rate per annum
determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): 
  

	
	Eurodollar Base Rate
	 1.00 - Eurocurrency
 Reserve Requirements

  

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 ; provided, however, notwithstanding the foregoing, the Eurodollar Rate shall be the
greater of (x) such rate determined pursuant to the foregoing formula (such rate specified in this clause (x), the “Calculated Eurodollar Rate”) and (y) 3.00% per annum (such rate specified in this clause (y), the
“Minimum Eurodollar Rate”); provided, further, that the Minimum Eurodollar Rate shall be reduced in increments of 0.01% until the Minimum Eurodollar Rate exceeds the Calculated Eurodollar Rate by no more than 1.50%.

 “Exchange Offer Commencement”: the commencement of the transactions necessary to consummate a Notes
Conversion Event by mailing to the holders of the Convertible Notes an offer to exchange which, if accepted by the requisite holders thereof, would constitute a Threshold Notes Conversion Event. 
 “Extended Threshold Notes Conversion Event”: as defined in Section 5.13(b). 
 “First Amendment”: the First Amendment, dated as of April 2, 2009, to this Agreement. 
 “First Amendment Effective Date”: the First Amendment Effective Date under and as defined in the First Amendment.

 “First Amendment Cash Fee”: as defined in the First Amendment. 
 “First Amendment PIK Fees”: the Initial First Amendment PIK Fees and the Additional First Amendment PIK Fees. 

“First Conversion Deadline”: July 2, 2009. 
 “Fully Diluted Common Stock”: as of the relevant date of determination, (a) all outstanding shares of common stock
of Holdings plus (b) the number of shares of common stock that would be issued and outstanding at such time assuming full conversion, exercise or exchange of all outstanding restricted stock units, the previously issued Warrants or other
securities, indebtedness or instruments convertible or exchangeable into common stock of Holdings; provided, however that (i) clause (b) shall exclude the number of shares of common stock of Holdings’ common stock
issuable upon the conversion of the Convertible Notes pursuant to the Convertible Note Indenture or upon the exercise of stock options or the issuance of shares pursuant to stock-only stock appreciation rights (“SOSARs”), it being
acknowledged that the Warrants, by their terms, will include an anti-dilution adjustment with respect to any shares of common stock of Holdings issued in respect of any Convertible Notes, stock options or SOSARs and (ii) clause (a) and
clause (b) shall exclude any shares of common stock of Holdings otherwise deemed to be included in Fully Diluted Common Stock that relate to Qualified Securities first issued after the First 

  

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Amendment Effective Date in consideration for gross proceeds of at least $40,000,000 (of which at least fifty percent (50%) of the net proceeds was
applied to reduce the amount of the Loans), or such lower amount as agreed to by the Required Qualifying Lenders, or pursuant to a Debt Reduction Event or Board Expansion Event or to meet the Covenant Relief Equity Condition. 
 “Initial First Amendment PIK Fees”: as defined in Section 2.18(a). 
 “Initial Warrants”: as defined in the First Amendment. 
 “Lease Security Documents”: as defined in Section 5.10(e). 
 “Loan”: any loan made, or deemed made, by any Lender pursuant to this Agreement, including without limitation, the First
Amendment PIK Fees. 
 “Notes Conversion Event”: the retirement or conversion of Convertible Notes solely
into (i) Holdings’ common stock (of the same class or series of common stock into which the Warrants are exercisable) or (ii) Qualified Securities reasonably acceptable to the Required Qualifying Lenders, in either such case in
accordance with Section 5.13. 
 “Qualified Securities”: (i) Holdings’ common stock (of the
same class or series of common stock into which the Warrants are exercisable), (ii) any other Capital Stock of Holdings that does not (A) require the payment of any dividends (other than dividends payable solely in shares of Qualified
Securities) or (B) mature and or is or becomes mandatorily redeemable or subject to mandatory repurchase or redemption or repurchase at the option of the holders thereof, in each case in whole or in part and whether upon the occurrence of any
event, pursuant to a sinking fund obligation on a fixed date or otherwise (including as the result of a failure to maintain or achieve any financial performance standards) or (C) give the holder thereof the option, or automatically, convert or
exchange into any Indebtedness, Capital Stock or other assets other than Qualified Securities, in the case of clauses (A), (B) or (C), prior to the date that is 91 days after the payment in full of the Loans and provides that the right to
receive cash payments or any other property of Holdings (other than additional Qualified Securities) in respect of the Qualified Securities is subordinate, in all respects, to the payment in full of the Loans; provided, however, that
such Qualified Securities may be redeemable upon a “change in control,” a sale of all or substantially all of the assets of Holdings, or a similar liquidity event so long as the absolute priority of payment of the Loans is provided for
consistent with this clause (ii) and (iii) any other Capital Stock of Holdings otherwise agreed to with the consent of the Required Qualifying Lenders. 
 “Qualifying Independent Director Nominee”: an individual that (a) would be deemed an independent director of
Holdings for purposes of the definition contained in Rule 4200 of the rules of the NASDAQ Stock Market; (b) is 

  

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independent of any Lender; and (c) is not required to make any affirmative disclosure in response to Item 401(f) of Regulation S-K (without regard
to any purported assessment of materiality contained in the first sentence of such rule). 
 “Qualifying
Lenders”: as defined in Section 3(b) of the First Amendment. 
 “Registration Rights
Agreement”: as defined in the First Amendment. 
 “Required Qualifying Lenders”: at any time, the
holders of more than 50% of the aggregate unpaid principal amount of the Loans then outstanding consisting of First Amendment PIK Fees. 
 “Second Conversion Deadline”: August 31, 2009. 
 “Term
Percentages”: as the context may require, (i) as to any Lender which made a Loan on the Restatement Effective Date, the percentage which such Lender’s Term Commitment then constitutes of the Term Commitments (or, at any time after
the Restatement Effective Date, the percentage which the aggregate principal amount of such Lender’s Loans then outstanding constitutes of the aggregate principal amount of the Loans made on the Restatement Effective Date and then outstanding)
and (ii) as to any Lender which is deemed to have received a First Amendment PIK Fee on or after the First Amendment Effective Date, the percentage which the aggregate principal amount of such Lender’s First Amendment PIK Fees then
outstanding constitutes of the aggregate principal amount of the First Amendment PIK Fees made on or after First Amendment Effective Date and then outstanding. 
 “Third Conversion Deadline”: October 30, 2009. 
 “Threshold Notes Conversion Event”: as defined in the First Amendment. 
 “Warrant Agreement”: as defined in the First Amendment. 
 “Warrants”: as defined in the First Amendment. 
  

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 (b) Section 1.1 of the Loan Agreement is hereby amended by amending the definition of Excess Cash
Flow by (i) deleting the “and” immediately before the reference to clause (b)(vii) and substituting in lieu thereof a comma, and (ii) adding immediately after clause (b)(vii) the following new clause (viii): “and
(viii) any amortization of the First Amendment Cash Fee or the Deferred First Amendment Cash Fee, as applicable, in accordance with GAAP to the extent the First Amendment Cash Fee or the Deferred First Amendment Cash Fee, as applicable, is not
included in arriving at such Consolidated Net Income”. 
 (c) Section 1.1 of the Loan Agreement is hereby amended by amending the
definition of Interest Period by deleting the phrase “one, two, three or” contained in each of clauses (a) and (b) thereof. 
 (d) Section 1.l of the Loan Agreement is hereby amended by amending the definition of Security Documents by inserting after the word Mortgage the following: “, the Lease Security Documents”. 
 2.2 Amendment to Section 2.9(d). Section 2.9(d) is hereby amended by inserting immediately after the phrase “provided
that” the following: 
 “(x) interest accruing on any First Amendment PIK Fees shall be paid-in-kind by a deemed making of an
additional First Amendment PIK Fee by the Lenders of such First Amendment PIK Fees on each Interest Payment Date and (y)”. 
 2.3
Amendment to Section 2.12(b). Section 2.12(b) of the Loan Agreement is hereby amended by deleting such Section in its entirety and substituting in lieu thereof the following new Section 2.12(b): 
 “(b) Each payment (including each prepayment) by the Borrower on account of principal of and interest on the Loans made on the
Restatement Effective Date shall be made pro rata according to the outstanding principal amounts of such Loans then owed to the applicable Lenders thereof. Each payment (including each prepayment) by the Borrower on account of
principal of and interest on the First Amendment PIK Fees deemed made on or after the First Amendment Effective Date shall be made pro rata according to the outstanding principal amounts of such First Amendment PIK Fees then held by
the applicable Lenders thereof as of the date of such payment. Prepayments of the Loans pursuant to Section 2.5 shall be applied, (x) in the case of the Loans made on the Restatement Effective Date, first, to the immediately
succeeding twelve months’ scheduled amortization payments in direct order of maturity and, second, to reduce all remaining respective installments thereof ratably according to the amounts of such installments after giving effect to all
prior reductions thereto and (y) in the case of the First Amendment PIK Fees, to the outstanding principal amount thereof. The amount of each principal prepayment of the Loans being made pursuant to Section 2.6 shall be applied (x) in
the case of the Loans made on the Restatement Effective Date, to reduce the then remaining installments of the Loans pro rata based upon the then remaining principal amounts thereof after giving effect to all prior reductions thereto
and (y) in the case of the First Amendment PIK Fees, to the outstanding principal amount thereof. Amounts prepaid on account of the Loans may not be reborrowed.”. 
  

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 2.4 Amendment to Section 2. Section 2 of the Loan Agreement is hereby amended by adding
at the end thereof immediately after Section 2.17 the following new Section 2.18: 
 “2.18. First Amendment PIK Fees.
(a) On the First Amendment Effective Date, each Qualifying Lender shall be deemed to have made, and the Borrower shall be deemed to have borrowed, a Loan (an “Initial First Amendment PIK Fee” and collectively, the
“Initial First Amendment PIK Fees”) in the aggregate principal amount equal to such Qualifying Lender’s pro rata share of the Aggregate Initial First Amendment PIK Fees, calculated based on the amount of Loans held by such
Qualifying Lender on the First Amendment Effective Date (prior to giving effect to the First Amendment and, prior to giving effect to the Excess Cash Flow payment for the 2008 fiscal year due under Section 2.6(d) if made on or prior to the
First Amendment Effective Date) as a fraction of the aggregate amount of Loans held by all Qualifying Lenders on the First Amendment Effective Date (prior to giving effect to the First Amendment). The Initial First Amendment PIK Fees shall initially
be Eurodollar Loans with Interest Periods of six months and thereafter may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.7. 
 (b) Each Qualifying Lender shall be deemed to have made, and the Borrower shall be deemed to have borrowed, the Additional First Amendment PIK Fees, if
any, as and when required by Section 5.13. The Additional First Amendment PIK Fees, if any, shall initially be Eurodollar Loans with Interest Periods of six months and thereafter may from time to time be Eurodollar Loans or ABR Loans, as
determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.7. 
 (c) The First Amendment PIK Fees
shall be paid in full on the Maturity Date.”. 
 2.5 Amendment to Section 5.10. Section 5.10 of the Loan Agreement is
hereby amended by adding at the end of such Section the following new paragraph (e): 
 “(e) On and after the First Amendment Effective
Date, Holdings, the Borrower and the other Loan Parties shall cooperate with the Administrative Agent and the Lenders, and shall use their commercially reasonable best efforts to obtain consents necessary to grant leasehold mortgages in favor of the
Administrative Agent, for the benefit of the Agents and the Lenders, and to execute and deliver a recordable memorandum of the applicable lease with respect to which such consent has been granted, in respect of (i) the fifty (50) most
profitable retail locations of the Loan Parties and (ii) for those retail locations for which the lease either (A) provides the relevant Loan Party the unilateral right to execute and deliver a memorandum of lease and a leasehold mortgage
over such retail location with no further consent of the landlord, or (B) contains language permitting the relevant Loan Party to seek the consent of the landlord for a memorandum of lease and a leasehold mortgage, such consent not to be
unreasonably withheld (collectively, in the case of the leases specified in clauses (i) and (ii) above, the “Applicable Leases”). Holdings, the Borrower and the applicable Loan Parties shall provide the 

  

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Administrative Agent with such information as the Administrative Agent or the Required Lenders may reasonably request to confirm the identification of the
Applicable Leases. Upon obtaining any such landlord consents, the applicable Loan Party shall execute and deliver leasehold mortgages and, to the extent reasonably available from the landlords, subordination, non-disturbance and attornment
agreements (collectively, the “Lease Security Documents”) with respect to the Applicable Lease, reasonably satisfactory to the Required Lenders, in favor of the Administrative Agent, for the ratable benefit of the Lenders, and to
take all such actions that are necessary or desirable to provide the Administrative Agent, for the ratable benefit of the Lenders, the benefit of such Lease Security Documents. Notwithstanding anything to the contrary in this Agreement, the parties
agree that to the extent that (i) any of the Applicable Leases provides that the landlord has the right to terminate the lease or modify the terms thereof as a result of the Borrower requesting consent to a leasehold mortgage or memorandum of
lease or any other Lease Security Document, and the lease further provides that the Borrower does not have the right to withdraw the request and terminate the landlord’s termination or modification rights, (ii) the landlord under any
Applicable Lease requires a material fee or other material compensation in exchange for consenting to a leasehold mortgage or memorandum of lease of any other Lease Security Document, or (iii) the Borrower, in the exercise of its reasonable
business judgment and in consultation with the Required Lenders, determines that requesting consent to a leasehold mortgage or any other Lease Security Document will jeopardize ongoing negotiations with a landlord regarding rent reduction or other
economic concessions, the Borrower shall not be required to pursue consent to a leasehold mortgage or any other Lease Security Document for such Applicable Lease. The Administrative Agent and the Lenders hereby agree to take such actions as
reasonably requested by Holdings to allow Holdings, the Borrower and the applicable Loan Parties to execute and deliver similar Lease Security Documents to the lenders under the ABL Facility Agreement as contemplated by the terms of the
Intercreditor Agreement; provided that the Liens evidenced thereby shall be junior and subordinated to the Liens in favor of the Administrative Agent in respect of such collateral pursuant to the terms of the Intercreditor Agreement.”.

 2.6 Amendment to Section 5. Section 5 of the Loan Agreement is hereby amended by adding at the end thereof immediately
after Section 5.12 the following new Sections 5.13, 5.14, 5.15 and 5.16: 
 “5.13 Notes Conversion Event. (a) By the
First Conversion Deadline, Holdings shall have consummated one or more Notes Conversion Events for 75% or more of the aggregate principal amount of Convertible Notes outstanding as of the First Amendment Effective Date (a “Threshold Notes
Conversion Event”) or the Borrower shall have prepaid, at par, and reduced the then outstanding principal amount of the Loans (exclusive of any First Amendment PIK Fees) to $128,000,000 or less with the net cash proceeds from the issuance
of Qualified Securities (the “Debt Reduction Event”). 
 (b) If a Threshold Notes Conversion Event or the Debt Reduction
Event has not been consummated by the First Conversion Deadline, the period to effect a Threshold Notes Conversion Event or the Debt Reduction Event shall be automatically extended until the Second Conversion Deadline by (i) an extension fee
being deemed to be earned in kind, and each 

  

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Qualifying Lender being deemed to have made a Loan (a “90-Day Extension PIK Fee”), in an aggregate principal amount equal to 5.00% of the
sum of such Qualifying Lender’s Term Percentage of the Loans outstanding as of such date, which 90-Day Extension PIK Fee shall be earned on the terms set forth in Section 2.18, and (ii) Holdings issuing to each Qualifying Lender its
ratable share of warrants to purchase fifteen percent (15%) of the Fully Diluted Common Stock of Holdings measured as of the First Conversion Deadline (the “90-Day Warrants”) on the same terms as the Initial Warrants;
provided, however, that if (x) the Borrower has extended the period to effect a Threshold Notes Conversion Event until the Second Conversion Deadline, (y) an Exchange Offer Commencement has occurred on or before July 1,
2009 and (z) the Threshold Notes Conversion Event occurs on or before July 21, 2009 (the “Extended Threshold Notes Conversion Event”), then the 90-Day Extension PIK Fee and the 90-Day Warrants which shall have been paid
and/or issued on the First Conversion Deadline shall be deemed cancelled. 
 (c) If the period to effect a Threshold Notes Conversion Event
or the Debt Reduction Event has been extended pursuant to the immediately preceding paragraph and a Threshold Notes Conversion Event or the Debt Reduction Event has not been consummated by the Second Conversion Deadline, the period to effect a
Threshold Notes Conversion Event or the Debt Reduction Event shall be automatically extended until the Third Conversion Deadline by (i) an extension fee being deemed to be earned in kind, and each Qualifying Lender being deemed to have made a
Loan (a “150-Day Extension PIK Fee”), in an aggregate principal amount equal to 5.00% of the sum of such Qualifying Lender’s Term Percentage of the Loans outstanding as of such date, which 150-Day Extension PIK Fee shall be
earned on the terms set forth in Section 2.18, and (ii) Holdings issuing to each Qualifying Lender its ratable share of warrants to purchase fifteen percent (15%) of the Fully Diluted Common Stock of Holdings measured as of the Second
Conversion Deadline (the “150-Day Warrants”, and collectively with the 90-Day Warrants, the “Additional Warrants”) on the same terms as the Initial Warrants. 
 (d) If the period to effect a Threshold Notes Conversion Event or the Debt Reduction Event has been extended pursuant to the immediately preceding
paragraph and a Threshold Notes Conversion Event or the Debt Reduction Event has not been consummated by the Third Conversion Deadline, an amendment fee in kind to each Qualifying Lender shall have been deemed to be earned and each Qualifying Lender
shall be deemed to have made a Loan (a “210-Day Amendment PIK Fee”, and collectively with the 90-Day Extension PIK Fee, the 150-Day Extension PIK Fee, the “Additional First Amendment PIK Fees”) in an aggregate
principal amount equal to 5.00% of the sum of such Qualifying Lender’s Term Percentage of the Loans outstanding as of such date, which 210-Day Extension PIK Fee shall be earned on the terms set forth in Section 2.18, and the Qualifying
Lenders shall be deemed to have waived the requirement set forth in Section 5.13(a). 
 (e) For purposes of determining the incurrence
date of, and calculation of interest on, any Additional First Amendment PIK Fees, such Additional First Amendment PIK Fees shall be deemed to have been made, (i) in the case of any 90-Day Extension Fee, on July 2, 2009, (ii) in the
case of any 150-Day Extension Fee, on August 31, 2009, and (iii) in the case of any 210-Day Amendment Fee, on October 30, 2009. For the avoidance of doubt, any Notes Conversion Event consummated pursuant to the terms of
Section 5.13 shall be permitted under Section 6.9. 
  

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 5.14 Deferred First Amendment Cash Fee. In consideration for each Qualifying Lender’s consent
to the First Amendment and the amendments and provisions contained therein, each Qualifying Lender shall be deemed to have earned a cash fee on the First Amendment Effective Date equal to 2.00% on the sum of such Lender’s Term Percentage of the
Loans outstanding as of the First Amendment Effective Date, such fee to be payable on November 30, 2009 (the “Deferred First Amendment Cash Fee”). 
 5.15 Required Qualifying Lenders Waiver. Notwithstanding anything in Section 5.13, 5.14 or 5.16(b) or in this Agreement to the contrary, any making of the Aggregate Initial First Amendment PIK Fees, any
making of the Additional First Amendment PIK Fee, any obligation to issue Additional Warrants, any amendment, supplement or other modification to or of the Warrant Agreement or the Registration Rights Agreement, and any obligation to name an
additional Designated Director to the board of directors of Holdings, may be waived, modified or amended solely with the consent of the Borrower and the Required Qualifying Lenders. 
 5.16 Board Representatives. (a) The Designating Lender shall be entitled to appoint two (2) members of the Holdings’ Board of
Directors as soon as practical after the First Amendment Effective Date. If not provided to the Borrower on or prior to the execution of the First Amendment, as soon as practical after the First Amendment Effective Date, the Designating Lender as of
the First Amendment Effective Date shall provide to the Nominating and Corporate Governance Committee of the Board of Directors of Holdings (the “Nominating Committee”) in writing the names of three Qualifying Independent Director
Nominees along with reasonable background data on each such nominee (such notice, a “Nomination Notice”), each of which nominees shall (i) make himself or herself available on reasonable notice for a telephonic interview with
the Nominating Committee regarding such nominee’s qualifications and the proxy disclosure that will be required for such nominee and (ii) confirm in writing that the nominee will serve if elected to the board of directors of Holdings.
Within thirty (30) days of receipt of such Nomination Notice, Holdings shall cause two of the Qualifying Independent Director Nominees to be named to the board of directors of Holdings (any such director, a “Designated
Director”); provided, that an equitable extension in this period will be imposed in the event of delay by the nominee in submitting to an interview of the Nominating Committee or a nominee is determined not to be a Qualifying
Independent Director. One of the Designated Directors shall be appointed to the Restructuring Committee of the Board of Directors and one of the Designated Directors shall be appointed to the Audit Committee of the Board of Directors, subject to the
candidate meeting the NASDAQ requirements and the requirements specified in Rule 10A-3 under the Securities Exchange Act of 1934 (including without limitation Rule 10A-3(b)(1) without regard to any of the exemptions therefrom) for inclusion on the
Audit Committee. 
 (b) If the Borrower has not effected either (i) a Threshold Notes Conversion Event or a Debt Reduction Event by the
First Conversion Deadline or (ii) the Extended Threshold Notes Conversion Event by July 22, 2009, then, on or after July 22, 2009, the Designating Lender as of such date shall be entitled to appoint an additional member of the
Holdings’ Board of Directors. The Designating Lender may promptly thereafter provide to the Nominating Committee in writing the names of at least two Qualifying Independent Director 

  

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Nominees along with reasonable background data on each such nominee, each of which nominees shall (x) make himself or herself available on reasonable
notice for a telephonic interview with the Nominating Committee regarding such nominee’s qualifications and the proxy disclosure that will be required for such nominee and (y) confirm in writing that the nominee will serve if elected to
the Board. Within thirty (30) days of receipt of such Nomination Notice, Holdings shall cause one of the Qualifying Independent Director Nominees to be named to the board of directors of Holdings as a Designated Director, which election may be
accomplished by increasing the size of the board of directors of Holdings from seven (7) members to eight (8); provided, that an equitable extension in this period will be imposed in the event of delay by the nominee in submitting to an
interview of the Nominating Committee or a nominee is determined not to be a Qualifying Independent Director. 
 (c) On or after
January 15 and prior to February 15 of each year, the Designating Lender as of January 15 of such year may, in its discretion, advise the Nominating Committee of any change it desires to make in the identity of any Designated Director
for purposes of the directors to be nominated by the board of directors at Holdings’ annual meeting of stockholders. In the event any such change is desired, the Designating Lender as of January 15 of such year shall, no later than
February 15 of such year, provide the Nominating Committee with the names of at least two Qualifying Independent Director Nominees for each directorship to be designated, along with reasonable background data on each such nominee. Each
Qualifying Independent Director Nominee shall (i) make himself or herself available on reasonable notice for a telephonic interview with the Nominating Committee regarding such Qualifying Independent Director Nominee’s qualifications and
the proxy disclosure that will be required for such Qualifying Independent Director Nominee and (ii) confirm in writing that such Qualifying Independent Director Nominee will serve if elected to the board of directors. Holdings shall cause any
such new nominees, or if not replaced, the sitting Designated Directors, to be included among management’s nominees for election to the board of directors at the annual meeting of stockholders. 
 (d) In the event that any Designated Director ceases to be a member of the board of directors of Holdings for any reason, such director shall promptly be
replaced by following the procedures established in Section 5.16(a) or (b), as appropriate. 
 (e) Holdings further covenants that
(i) for so long as its obligations under Section 5.16(a) continue in effect, at no time from and after Holding’s next annual meeting of stockholders shall the number of directors on its board of directors be more than seven
(7) directors, and (ii) for so long as its obligations under Section 5.16(b) continue in effect, at no time shall the number of directors on its board of directors be more than eight (8) directors, in each instance, without the
consent of the Required Qualifying Lenders; provided, however, that in connection with a new investment in the equity securities of Holdings pursuant to which Holdings has received at least $50,000,000 in gross cash proceeds from the
issuance of Qualified Securities the net proceeds of which was applied to reduce the amount of the Loans at par or pursuant to a dutch auction made available to all Lenders and conducted in accordance with procedures reasonably acceptable to the
Required Lenders (a “Board Expansion Event”), the board may be further expanded to provide any such new investor with representation on the 

  

 12 

 
board of directors approximately proportionate with the ownership position acquired by such investor; provided, however, that the board shall
not be expanded beyond ten members. The action to elect a Designated Director to the board of directors of Holdings or the nomination of any such director for election at any meeting of stockholders of Holdings shall be approved solely by the
members of the board of directors excluding any then sitting Designated Director provided that, at all times, such action shall be taken by not less than 66-2/3% of the Continuing Directors then in office. No Designated Director shall be a member of
the Nominating and Corporate Governance Committee. 
 (f) Notwithstanding any provision of this Section 5.16 to the contrary, at such
time that the total principal amount of Loans outstanding and the other Obligations under the Loan Documents (other than obligations under or in respect of Swap Agreements) shall have been paid in full, whether pursuant to a refinancing, replacement
facility or otherwise, the total number of Designated Directors appointed pursuant to this Section 5.16 shall be reduced to zero, and Holdings shall no longer have any obligation to comply with the provisions of this Section 5.16. Upon
election, each Designated Director will agree in writing to submit his or her resignation from the board of directors of Holdings upon the request of the Nominating and Corporate Governance Committee if this Section 5.16(f) results in a
reduction in the number of Designated Directors and the resignation of such director is intended to result in compliance with the terms hereof. 
 (g) For the avoidance of doubt, the only Person with the right to designate a Designated Director hereunder is the Designating Lender at the relevant time of determination and neither the Designating Lender, the Borrower nor Holdings shall
be required to take direction from any other Person, including any other Lender, with respect to such matter. 
 (h) Holdings and the
Borrower acknowledge that the Lenders will be irreparably damaged if any of the provisions of this Section 5.16 are not performed in accordance with their specific terms in all material respects or are otherwise breached. Accordingly, it
is agreed that Lenders shall be entitled to an injunction to prevent breaches of this Section 5.16 and to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court of the United States or any
state having subject matter jurisdiction, in addition to any other remedy to which the parties hereto may be entitled at law or in equity including, without limitation the right to declare an Event of Default under the Loan Agreement. No bond or
other similar undertaking shall be required of any party seeking relief under this Section.”. 
  

 13 

 2.7 Amendments to Section 6.1. 
 (a) Section 6.1(a) of the Loan Agreement is hereby amended by (i) deleting therefrom the portion of the table for March 31,
2009, June 30, 2009, September 30, 2009 and December 31, 2009 and inserting in lieu thereof the following: 
  

			
	 Fiscal Quarter
	  	 Consolidated Senior Secured
 Leverage Ratio

	 March 31, 2009
	  	6.25 to 1.00
	 June 30, 2009
	  	8.00 to 1.00
	 September 30, 2009
	  	9.00 to 1.00
	 December 31, 2009
	  	7.75 to 1.00

 and (ii) adding the following after the table contained therein: 
 “; provided that if (x) Holdings has received $40,000,000 in gross cash proceeds from the issuance of Qualified Securities the net
proceeds of which was applied to reduce the amount of the Loans at par or pursuant to a dutch auction made available to all Lenders and conducted in accordance with procedures reasonably acceptable to the Required Lenders (“Covenant Relief
Equity Condition”), (y) a Threshold Notes Conversion Event has occurred, and (z) the maturity date of the ABL Facility Agreement is extended until, or the maturity date of any replacement facility to the ABL Facility is, no
earlier than June 21, 2011, the maximum Consolidated Senior Secured Leverage Ratio for the period ending on each of March 31, 2010, shall be 6.63 to 1.00, June 30, 2010 shall be 5.50 to 1.00, September 30, 2010 shall be
4.38 to 1.00 and December 31, 2010 shall be 3.25 to 1.00; provided, further that for purposes of the covenant contained in this Section 6.1(a), and notwithstanding anything to the contrary in subsection (i) of the
definition of “Consolidated EBITDA”, Consolidated EBITDA shall be increased by the amount of any non-cash charges or expenses incurred in connection with the First Amendment or the transactions contemplated thereby, without limitation as
to amount, to the extent such non-cash charges or expenses are reflected as a charge in the statement of Consolidated Net Income for such period. For the avoidance of doubt, any reference to a date in this Section 6.1(a) shall be deemed to be
the last date of the respective fiscal quarter of the Borrower closest to such date specified herein under the Borrower’s current 52/53 week fiscal year system.”. 
  

 14 

 (b) Section 6.1(b) of the Loan Agreement is hereby amended by (i) deleting therefrom the
portion of the table for March 31, 2009, June 30, 2009, September 30, 2009 and December 31, 2009 and inserting in lieu thereof the following: 
  

			
	 Fiscal Quarter
	  	 Consolidated Fixed Charge
Coverage
Ratio

	 March 31, 2009
	  	0.900 to 1.00
	 June 30, 2009
	  	0.800 to 1.00
	 September 30, 2009
	  	0.775 to 1.00
	 December 31, 2009
	  	0.800 to 1.00

 and (ii) adding the following after the table contained therein: 
 “; provided that if (x) Holdings has met the Covenant Relief Equity Condition, (y) a Threshold Notes Conversion Event has occurred,
and (z) the maturity date of the ABL Facility Agreement is extended until, or the maturity date of any replacement facility to the ABL Facility is, no earlier than June 21, 2011, the minimum Consolidated Fixed Charge Coverage Ratio for the
period ending on each of March 31, 2010 shall be 0.85 to 1.00, June 30, 2010 shall be 0.90 to 1.00, September 30, 2010 shall be 0.95 to 1.00 and December 31, 2010 shall be 1.00 to 1.00; provided, further
that for purposes of the covenant contained in this Section 6.1(b), and notwithstanding anything to the contrary in subsection (i) of the definition of “Consolidated EBITDA”, Consolidated EBITDA shall be increased by the amount
of any non-cash charges or expenses incurred in connection with the First Amendment or the transactions contemplated thereby, without limitation as to amount, to the extent such non-cash charges or expenses are reflected as a charge in the statement
of Consolidated Net Income for such period. For the avoidance of doubt, any reference to a date in this Section 6.1(b) shall be deemed to be the last date of the respective fiscal quarter of the Borrower closest to such date specified herein
under the Borrower’s current 52/53 week fiscal year system.”. 
 2.8 Amendment to Section 6.7. Section 6.7 of the
Loan Agreement is hereby amended by deleting the amounts in the column entitled “Maximum Capital Expenditures” opposite the fiscal years 2009 and 2010 and in each case inserting in lieu thereof “$20,000,000”. 
 2.9 Amendment to Section 7. Section 7 of the Loan Agreement is hereby amended by inserting the word “or” after clause
(l) and inserting the following new clauses (m) and (n): “(m) Holdings’ common stock (or other securities into which the Warrants are exercisable) ceases to be listed on a national securities exchange or quoted on the NASDAQ
Global Market or an established automated over-the-counter trading market in the United States; or (n) Holdings or Borrower shall be in material default under the Registration Rights Agreement or Warrant Agreement and such default shall
continue unremedied for a period of fifteen (15) days following receipt by Holdings or the Borrower of written notice of such default.” 
  

 15 

 SECTION 3. CONDITIONS PRECEDENT. 
 This Amendment is being entered into as of the date first set forth above and shall become effective on April 3, 2009 (the “First Amendment
Effective Date”) if the following conditions have been satisfied or waived: 
 (a) Execution and Delivery. The
Administrative Agent shall have received (including receipt by facsimile or electronic mail) counterparts of this Amendment duly executed by (i) each Loan Party and (ii) the Required Lenders; 
 (b) Fees and Expenses. (i) The Administrative Agent shall have received (A) for the account of each Lender entitled
thereto, a fee in an amount equal to 1.00% of such Lender’s Term Percentage of the Loans outstanding on the First Amendment Effective Date (the “First Amendment Cash Fee”), which shall be payable only to each Lender that has
delivered (including by way of facsimile or electronic mail) its executed signature page to this Amendment to the attention of Scott Forchheimer of Latham & Watkins LLP, telecopy number: 202-637-2201, email: scott.forchheimer@lw.com, with a
copy to (x) the attention of Jean Chen of Simpson Thacher & Bartlett LLP, telecopy number: 212-455-2502, email: jchen@stblaw.com and (y) the attention of Barry Rutcofsky of Kasowitz, Benson, Torres & Friedman LLP,
telecopy number: 212-506-1800, email: brutcofsky@kasowtiz.com, on or before 12:00 p.m. (New York City time) on April 2, 2009 (such Lender, a “Qualifying Lender”), only if Holdings and the Borrower execute this Amendment and
(B) all reasonable, out-of-pocket or agreed upon fees and accrued expenses of the Administrative Agent required to be paid by the Borrower, and (ii) the Aggregate Initial First Amendment PIK Fees shall be deemed to have been made on the
First Amendment Effective Date, in accordance with Section 2.18(a) of the Loan Agreement; 
 (c) Warrants. Each
Qualifying Lender shall have received (i) a warrant agreement, in form and substance reasonably satisfactory to such Qualifying Lender (the “Warrant Agreement”), executed by each of the parties thereto; and (ii) a
registration rights agreement, in form and substance reasonably satisfactory to such Qualifying Lender (the “Registration Rights Agreement”), executed by each of the parties thereto; and 
 (d) No Defaults. No Default or Event of Default shall have occurred and be continuing on the First Amendment Effective Date after
giving effect to this Amendment. 
 SECTION 4. POST-CLOSING UNDERTAKING. 
 4.1 Security. As soon as practical after the First Amendment Effective Date but in no event later than May 3, 2009 (or such later date as the
Required Lenders may otherwise agree), the Loan Parties shall (a) execute and deliver such documentation as the Administrative Agent or the Required Lenders shall reasonably request, in form and substance reasonably satisfactory to the Required
Lenders, to grant a security interest to the Administrative Agent for the benefit of the Agents and the Lenders in such assets of the Loan Parties located in any 

  

 16 

 
jurisdiction other than the United States, and (b) pledge to the Administrative Agent, for the benefit of the Agents and the Lenders, no more than 65%
of the total outstanding voting stock of any Excluded Foreign Subsidiary, to the extent not previously pledged. Notwithstanding anything in this Section 4.1 to the contrary, no Loan Party shall be required to take any actions in order to
perfect the security interest granted to the Administrative Agent for the benefit of the Agents and the Lenders under the laws of any jurisdiction outside the United States. The Administrative Agent and the Lenders hereby agree to take such actions
as reasonably requested by Holdings to allow Holdings, the Borrower and the applicable Loan Parties to execute and deliver similar documentation as specified in this Section 4.1 to the lenders under the ABL Facility Agreement as contemplated by
the terms of the Intercreditor Agreement. 
 4.2 Warrants. (a) Prior to or
promptly after the First Amendment Effective Date, Holdings shall request from NASDAQ an exception from the stockholder approval requirements pursuant to the procedure established in Section 4350(i)(2) and, upon the granting thereof, shall
promptly give the notice required by final paragraph of Rule 4350(2), and the obligation of Holdings to issue the warrants provided for herein shall be conditioned upon the grant of the foregoing approval and mailing of notice (provided that,
it shall be an Event of Default under Section 7(d) of the Loan Agreement if Holdings shall not have made such request as provided in this Section 4.2 within 45 days after the First Amendment Effective Date); provided, further
that it shall be an Event of Default under Section 7(d) of the Loan Agreement if Holdings shall not have received the waiver from the stockholder approval requirement or the requisite shareholders’ approval to issue the Initial Warrants
and the Additional Warrants on or before the Issuance Date, and (b) on or before the 65th day after the First Amendment Effective Date (the
“Issuance Date”), Holdings shall have issued, and each Qualifying Lender shall have received, for the benefit of such Qualifying Lender (provided such Lender provides customary representations under applicable securities laws,
including that it is either an “accredited investor” or a “qualified institutional buyer”) its ratable share of warrants to purchase 19.9% of the Fully Diluted Common Stock of Holdings measured as of the First Amendment Effective
Date, $0.01 par value, for an exercise price of $0.01 per share, pursuant to the Warrant Agreement (the “Initial Warrants”, and together with the Additional Warrants, if any, the “Warrants”) (it being understood
that failure to issue the Initial Warrants pursuant to this Section 4.2 shall constitute an Event of Default under Section 7(c) of the Loan Agreement). 
 4.3 Collateral Audit. On and after the First Amendment Effective Date, the Borrower shall cooperate with the Administrative Agent and the Required Lenders to complete a Collateral review in for the purpose of
confirming that all liens, security interests and pledges granted to the Administrative Agent for the benefit of the Agents and the Lenders pursuant to the Security Documents have been duly perfected. 
 SECTION 5. GENERAL. 
 5.1 Warrant
Agreement and Registration Rights Agreement; Separation of Warrants and Loans. (a) By its signature to this Amendment, each Qualifying Lender shall be deemed individually and not jointly, to be a signatory to, and be bound by, and receive
the benefits of, the provisions of the Warrant Agreement and the Registration Rights Agreement. 
  

 17 

 (b) In connection with the receipt of Warrants pursuant to the terms of the Warrant Agreement and this
Amendment, each Qualifying Lender hereby represents and warrants, individually and not jointly, to the Loan Parties that (i) such Qualifying Lender is (A) a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act of 1933, as amended) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transaction is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A under the Securities Act of 1933; or (B) an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended) and (ii) on the date
of issuance of Warrants hereunder and after giving effect thereto, such Qualifying Lender and its affiliates, do not hold more than 4.75% of the outstanding shares of Capital Stock of Holdings; provided, however, that with respect to
this clause (ii) the Company shall upon the written request of any Lender grant a waiver to the foregoing 4.75% limitation to the extent, but only the extent, such limitation is exceeded by the Lender solely in respect of Warrants or shares of
common stock of Holdings issued or to be issued upon the exercise of Warrants held by such Lender. 
 (c) So long as the ABL Facility (or any
refinancing, replacement or successor revolving line of credit facility to the ABL Facility) contains a change of control or other restriction relating to the ownership or control of 20% or more of the capital stock of Holdings passing to any
“person” or “group of persons” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), each Qualifying Lender covenants, individually and not jointly, that it shall not at any
time be a “person” or “group of persons” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) that becomes or obtains rights (whether by means of warrant, options or
otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 of the Securities Exchange Act of 1934, as amended) directly or indirectly, of 19.9% or more of the capital stock of Holdings. No Qualifying Lender shall
be subject to any of the restrictions set forth in this Section 5.1(c) if (a) Holdings shall have entered into a definitive agreement providing for, or, in the case of clause (ii) below, the Holdings’ Board of Directors of shall
have recommended in favor of, (i) any direct or indirect acquisition or purchase by any “person” or “group of persons” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended) of a majority of the Holdings common stock, (ii) any tender offer or exchange offer that if consummated would result in any “person” or “group of persons” (as such terms are used in Section 13(d) and 14(d) of
the Securities Exchange Act of 1934, as amended) acquiring a majority of the common stock of Holdings or (iii) any merger, consolidation, share exchange or other business combination involving Holdings which, if consummated, would result in the
stockholders of Holdings immediately prior to the consummation of such transaction ceasing to own at least a majority of the equity interests in the surviving entity (or any direct or indirect parent of such surviving entity); (b) any
“person” or “group of persons” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended)(other than Holdings, and Qualifying Lender or any “group of persons” that
includes a Lender) acquires 20% or more of the number of then outstanding shares of common stock of Holdings; or (c) an Event of Default under the Loan Agreement shall have occurred and be continuing; provided, however, that no
event identified in clauses (a), (b) or (c) shall be effective to terminate the first sentence of this Section 5.1(c) if the lenders under the ABL Facility have provided a waiver, amendment 

  

 18 

 
or similar accommodation such that the event is not a default or an event of default under the ABL Facility (it being understood that Holdings shall use
reasonable commercial efforts, but without the requirement that it pay any amendment fee, to obtain similar relief from the 19.9% ownership limitation provided for in the first sentence of this Section 5.1(c) for the benefit of the Qualifying
Lenders). 
 (d) In connection with the receipt of Warrants pursuant to the terms of the Warrant Agreement and this Amendment, each
Qualifying Lender hereby covenants and agrees, individually and not jointly, that it shall not, directly or indirectly (i) assign, participate or otherwise transfer all or any portion of its interest in any Loan to any other Person without
simultaneously assigning or participating to the same Person all Warrants (in each case, in accordance with the terms of the relevant provisions of the Loan Agreement or Warrant Agreement, as applicable) issued contemporaneously and in connection
with such Loan, if any, or (ii) otherwise permit any Warrant to be held separately from the Loan with respect to which it was issued. The Qualifying Lenders hereby acknowledge that Holdings and the Borrower will not give effect whatsoever to
any purported transfer of the Warrants or the Loans to the extent not in compliance with this Section 5.1(d) and the Loan Agreement. 
 5.2 Representations and Warranties of the Loan Parties. (a) In order to induce the Lenders to enter into this Amendment, Holdings and the Borrower hereby jointly and severally represent and warrant to the Administrative Agent
and the Lenders that after giving effect to this Amendment, the representations and warranties of Holdings and the Borrower contained in the Loan Agreement and the Security Documents are true and correct on and as of the First Amendment Effective
Date (after giving effect hereto) as if made on and as of the First Amendment Effective Date (except (x) where such representations and warranties expressly relate to an earlier date in which case such representations and warranties were true
and correct in all material respects as of such earlier date and (y) as set forth on Annex I to this Amendment which exceptions, individually or in the aggregate, would not give rise to a Material Adverse Effect); provided that all
references to “this Agreement” in the Loan Agreement and to the “Loan Agreement” in any Security Document shall be and are deemed to mean the Loan Agreement as amended hereby; 
 (b) In order to induce the Lenders to enter into this Amendment, Holdings and the Borrower hereby represents and warrants to the Administrative Agent and
the Lenders that each of Holdings and the Borrower has all necessary corporate power and authority to execute and deliver this Amendment; the execution and delivery by each such party of this Amendment have been duly authorized by all necessary
corporate action on its part; and this Amendment has been duly executed and delivered by each such party and constitutes each such party’s legal, valid and binding obligation, enforceable in accordance with its terms; and 
 (c) In order to induce the Lenders to enter into this Amendment, Holdings and the Borrower hereby represents and warrants to the Administrative Agent and
the Lenders that pursuant to the Loan Agreement and the Security Documents, the Obligations are secured by liens on and security interests in all of the assets of the Loan Parties to the extent required by the Loan Documents and requested by the
Administrative Agent, including without limitation, all property described in Section 5.10 of the Loan Agreement. 
  

 19 

 (d) In order to induce the Lenders to enter into this Amendment, Holdings and the Borrower hereby
represent and warrant to the Administrative Agent and the Lenders: (i) they have been advised by counsel in the negotiation, execution and delivery of this Amendment; (ii) the Board of Directors and Holdings has determined that the
execution and delivery of the Amendment and the consummation of the transactions contemplated hereby are in the best interests of Holdings, the Borrower and each of its subsidiaries; (iii) the terms and conditions contained herein were
bargained for at arms’ length; (iv) neither the Administrative Agent nor any Lender (as such) has any fiduciary, special, or heightened relationship with or duty to Holdings or the Borrower arising out of or in connection with this
Amendment, the Loan Agreement or any of the other Loan Documents, and the relationship between Administrative Agent and Lenders, on the one hand, and Holdings and the Borrower, on the other hand, in connection herewith or therewith is solely that of
debtor and creditor; and (v) no joint venture is created hereby, by the Loan Agreement or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lenders or among Holdings, the Borrower and
the Lenders. 
 (e) In order to induce the Lenders to enter into this Amendment, Holdings and the Borrower hereby represents and warrants to
the Administrative Agent and the Lenders that the amount of the Excess Cash Flow Payment due for fiscal year 2008 is no less than $14,500,000 and will be paid on or prior to April 10, 2009. 
 5.3 Notice of Effectiveness. The Administrative Agent shall promptly advise the Lenders, Holdings and the Borrower that this Amendment has become
effective as of the First Amendment Effective Date. 
 5.4 Full Release; Covenant Not To Sue: It is the intention of the parties to
extinguish all settled claims and, consistent with such intention, the parties waive any and all rights, to the extent permitted by law, under Section 1542 of the California Civil Code, if applicable, or any other applicable similar state law,
federal law or principle of common law, which may have the effect of limiting the releases set forth above. Section 1542 of the California Code provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS
OR HER SETTLEMENT WITH THE DEBTOR. 
 Holdings, the Borrower and each Guarantor hereby confirm that, as of the First Amendment Effective
Date, they have absolutely no claims, defenses, offsets or counterclaims against any Agent or any Lender with respect to the Loans, this Amendment or the Loan Documents (including, without limitation, the Intercreditor Agreement). Holdings, Borrower

  

 20 

 
and each Guarantor hereby release the Agents, the Lenders and their respective officers, directors, shareholders, employees, affiliated entities, attorneys
and agents of each of the foregoing, and their respective successors and assigns (the “Lender Released Parties”) from any claims, counterclaims, demands, actions, causes of actions, suits, debts, costs, dues, sums of money,
accounts, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, executions, expenses and liabilities whatsoever, known or unknown, at law or in equity, irrespective of
whether such claims arise out of contract, tort, violation of laws or regulations or otherwise, which Holdings, the Borrower or any Guarantor, respectively, ever had, now has or hereafter can, shall or may have against the Lender Released Parties or
any of them for, upon, or by reason of any matter, cause or thing whatsoever form the beginning of the world to and including the date of this Amendment in connection with the Loans, this Amendment and the Loan Documents (including without
limitation the Intercreditor Agreement) contemplated thereby or relating in any manner whatsoever to the Loans, this Amendment and the Loan Documents (including without limitation the Intercreditor Agreement). No such claims, defenses, offsets or
counterclaims shall be valid or effective as against any of the Lender Released Parties and all such claims, defenses, offsets and counterclaims are hereby unconditionally and irrevocably waived for all purposes. 
 Each Loan Party, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably,
covenants and agrees with and in favor of each Lender Released Party above that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any Lender Released Party on the basis of any claim released, remised and discharged by
such Loan Party pursuant to the above release. If any Loan Party or any of its successors, assigns or other legal representations violates the foregoing covenant, such Loan Party, for itself and its successors, assigns and legal representatives,
agrees to pay, in addition to such other damages as any Lender Released Party may sustain as a result of such violation, all attorneys’ fees and costs incurred by such Released Party as a result of such violation. 
 5.5 APPLICABLE LAW AND JURISDICTION. THIS AMENDMENT HAS BEEN EXECUTED AND DELIVERED IN NEW YORK, NEW YORK, AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HERETO SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 5.6
Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
 5.7 Consent of Guarantors. Each of the Guarantors acknowledges and consents to all of the terms and conditions of this Amendment and agrees that
this Amendment does not operate to reduce or discharge such Guarantor’s obligations under the Guarantee and Collateral Agreement or the other Loan Documents to which such Guarantor is a party. Each of the Guarantors confirms and agrees that the
Guarantee and Collateral Agreement is and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that, upon the effectiveness of, and on and after the date of the Amendment, each reference in such
Guarantee and Collateral Agreement to the Loan Agreement “thereunder”, “thereof” or words of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement as amended or modified by the Amendment.

  

 21 

 5.8 Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of
Holdings and the Borrower and each of their respective successors and assigns, and upon the Agents and the Lenders and their successors and assigns. The execution and delivery of this Amendment by any Lender prior to the First Amendment Effective
Date shall be binding upon its successors and assigns and shall be effective as to any loans or commitments assigned to it after such execution and delivery. 
 5.9 Continuing Effect. Except as expressly amended or waived hereby, the Loan Agreement and the other Loan Documents shall continue to be and shall remain in full force and effect in accordance with their
respective terms. This Amendment shall not constitute an amendment or waiver of any provision of the Loan Agreement or the other Loan Documents not expressly referred to herein and shall not be construed as (or indicate the Lenders’ willingness
to agree to) an amendment, waiver or consent to any action on the part of the Borrower that would require an amendment, waiver or consent of the Administrative Agent or the Lenders except as expressly stated herein. The Administrative Agent and the
Lenders expressly reserve the right to exercise all of their rights and remedies under the Loan Agreement, the other Loan Documents and applicable law at any time in respect of the occurrence and continuance of any Event of Default or Default.

 5.10 Headings. Section headings used in this Amendment are for convenience of reference only, are not part of this Amendment and
are not to affect the constructions of, or to be taken into consideration in interpreting, this Amendment. 
 (Signature pages
follow) 
  

 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their
respective duly authorized officers as of the date first above written. 
  

			
	EDDIE BAUER HOLDINGS, INC.
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President
	
	EDDIE BAUER, INC.
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President
	
	GUARANTORS:
	
	EDDIE BAUER FULFILLMENT SERVICES, INC.
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President
	
	EDDIE BAUER SERVICES, LLC
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President
	
	EDDIE BAUER INFORMATION TECHNOLOGY, LLC
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President

 Signature Page to First Amendment 

			
	EDDIE BAUER DIVERSIFIED SALES, LLC
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President
	
	EDDIE BAUER INTERNATIONAL DEVELOPMENT, LLC
		
	By:	 	/s/ McNeil S. Fiske, Jr.
		 	Name: McNeil S. Fiske, Jr.
		 	Title: President

 Signature Page to First AmendmentRegistration Rights Agreement dated April 2, 2009

 Exhibit 10.2 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this
“Agreement”), dated as of April 2, 2009, is among EDDIE BAUER HOLDINGS, INC., a Delaware corporation (the “Company”), and the holders of warrants to purchase shares of the Company’s Common Stock (as
defined below) listed on Schedule A to the Warrant Agreement (as defined below) (along with their permitted transferees, the “Holders”). 
 W I T N E S S E T H: 
 WHEREAS, to
induce the lenders under the Amended and Restated Term Loan Agreement, dated as of June 21, 2005, and amended and restated as of April 4, 2007 (the “Loan Agreement”), among the Company, Eddie Bauer, Inc., the several
lenders party thereto, Goldman Sachs Credit Partners L.P., as syndication agent, and JPMorgan Chase Bank, N.A., as administrative agent, to enter into a First Amendment to the Loan Agreement (the “First Amendment”) on the date
hereof, the Company has agreed to issue warrants to purchase shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”); and 
 WHEREAS, the Company and the Holders have agreed to set forth herein the terms of certain agreements relating to, among other things, the registration
rights of the Holders. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, and for other valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 
 REGISTRATION RIGHTS 
 Section 1.1
Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Adverse
Disclosure” means public disclosure of material non-public information relating to a significant transaction, which disclosure (i) would be required to be made in any Registration Statement filed with the SEC by the Company so that
such Registration Statement would not be materially misleading; (ii) would not be required to be made at such time but for the filing of such Registration Statement; and (iii) would, in the good faith judgment of the Company’s Board
of Directors, adversely affect the Company’s ability to complete such significant transaction or upon the terms on which such significant transaction could be completed. 
 “Advice” has the meaning assigned to such term in Section 1.11 hereof. 
 “Common Stock” has the meaning assigned in the recitals hereof. 
 “Company” has the meaning assigned in the introductory paragraph hereof. 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 “First Amendment” has the meaning assigned in the recitals hereof.

 “Holder” has the meaning assigned in the introductory paragraph hereof. 
 “Initiating Holders” has the meaning assigned thereto in Section 1.2(a) hereof. 
 “Loan Agreement” has the meaning assigned in the recitals hereof. 
 “register,” “registered” and “registration” refer to a registration effected by preparing and filing a
registration statement or similar document in compliance with the Securities Act and, if such registration statement or document is not automatically effective, the declaration or ordering of effectiveness of such registration statement or document
by the SEC. 
 “Registrable Securities” means any securities of the Company acquired by the Holders from time to time upon
exercise of the Warrants and any other shares of the Company’s Common Stock issued as a dividend or other distribution with respect to, or in exchange for or in replacement of, such securities (because of stock splits, stock dividends,
reclassifications, recapitalizations, exchange offers, mergers, consolidations or similar events); provided, however, that the foregoing definition shall exclude in all cases any securities that (i) are effectively registered
under the Securities Act and disposed of in accordance with a Registration Statement covering such securities, (ii) have been transferred pursuant to Rule 144 (assuming exercise pursuant to Section 2.1(d)(ii) of the Warrant Agreement),
(iii) may be resold without registration under Rule 144 or (iv) are no longer beneficially owned by any Holder. 
 “Registration Statement” means one or more registration statements registering the resale of Registrable Securities, or such other registration statements filed by the Company under the Securities Act, including the
prospectuses, amendments and supplements to such registration statements, including post-effective amendments, all exhibits and all material incorporated by reference in such registration statements. 
 “Representatives” has the meaning assigned thereto in Section 1.9(a) hereof. 
 “Rule 144” means Rule 144 under the Securities Act. 
 “SEC” means the Securities and Exchange Commission, or any other federal agency at the time administering the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 “Suspension” has the meaning assigned thereto in Section 1.2(f) hereof. 
 “Underwritten Offering” means a registration under this Agreement in which securities of the Company are sold to an underwriter on a
firm commitment basis for reoffering to the public. 
  

 2 

 “Violations” has the meaning assigned thereto in Section 1.9(a) hereof.

 “Warrant Agreement” means the Warrant Agreement, dated as of the date hereof, among the Company and the Holders.

 “Warrants” means the warrants issued under the Warrant Agreement. 
 Section 1.2 Request for Registration. 
 (a) If the Company shall receive a written request from a Holder or Holders of not less than a majority of the then outstanding Registrable Securities (the “Initiating Holders”) that the Company file
a Registration Statement under the Securities Act registering the resale of all or part of such Holders’ Registrable Securities, the Company will promptly give written notice of such requested registration to all other Holders of Registrable
Securities, and thereupon the Company will use its commercially reasonable efforts to file with the SEC as soon as reasonably practicable following such demand request (but in no event later than the date that is ninety (90) days after the
demand request) a Registration Statement. If such Registration Statement is not automatically effective upon filing, the Company shall use its commercially reasonable efforts to cause such Registration Statement to be declared effective by the SEC
as soon as possible (but in no event later than the date that is ninety (90) days after the initial filing of the Registration Statement). The Company shall include in such Registration Statement the Registrable Securities which the Company has
been so requested to register by the Initiating Holders and all other Registrable Securities the Holders of which shall have made a written request to the Company for registration thereof within thirty (30) days after the giving of such written
notice by the Company. The Company shall only be required to effect one (1) registration in respect of each series of Warrants pursuant to this Section 1.2. 
 (b) A registration requested pursuant to this Section 1.2 shall not be deemed to have been effected unless a Registration
Statement with respect thereto has become effective; provided, however, that if a Registration Statement with respect to a registration request does not become effective solely because of the Initiating Holders’ refusal to
proceed, then, unless such Initiating Holders reimburse the Company for all expenses incurred in connection with such Registration Statement, such registration shall be deemed to have been effected by the Company at the request of the Initiating
Holders. 
 (c) Subject to Section 1.12, the Company shall use its commercially reasonable efforts to keep any
Registration Statement filed pursuant to this Section 1.2 continuously effective for a period of one year after the date the Registration Statement first becomes effective. In the event the Company shall give any notice pursuant to
Section 1.2(f) or Section 1.4(d), the time period mentioned in this Section 1.2(c) during which the required Registration Statement is to remain effective shall be extended by the number of days during the period
from and including the date of the giving of such notice pursuant to Section 1.2(f) or Section 1.4(d) to and including the date when each Holder covered by the Registration Statement shall have received the copies of the
supplemented or amended prospectus contemplated by Section 1.4(f) or shall have otherwise been notified by the Company that the Suspension has been lifted. 
  

 3 

 (d) Notwithstanding the foregoing, if the Company shall furnish to the Holders a
certificate signed by an officer of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be significantly detrimental to the Company and its stockholders for such Registration Statement to be filed
and it is therefore advisable to defer the filing of such Registration Statement, the Company shall have the right to defer such filing for a period of not more than sixty (60) days after receipt of the written request of the Initiating
Holders. 
 (e) The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to
this Section 1.2 during the period starting with the date ninety (90) days prior to the Company’s good faith estimate of the date of filing of, and ending on the date ninety (90) days after the effective date of, a
Registration Statement subject to Section 1.3 hereof. 
 (f) If the filing of the Registration Statement or the
continued effectiveness of the Registration Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Holders, delay filing the Registration Statement or
suspend use of the Registration Statement (in either case, a “Suspension”); provided, however, the Company shall not be permitted to exercise a Suspension (i) more than twice during any twelve (12) month
period, (ii) for a period exceeding forty-five (45) days on any one occasion, or (iii) for an aggregate period exceeding ninety (90) days in any twelve (12) month period. In the case of a Suspension, the notice required
above shall request the Holders to suspend any sale or purchase, or offer to sell or purchase, the Registrable Securities, and to suspend use of the prospectus related to the registration in connection with any such sale or purchase or offer to sell
or purchase. The Company shall promptly notify the holders upon the termination of any Suspension, and amend or supplement the prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Holders such numbers
of copies of the prospectus as so amended or supplemented as the Holders may reasonably request. 
 Section 1.3 Company Registration.

 (a) The Company shall notify all Holders of Registrable Securities in writing at least thirty (30) days prior to the
filing of a Registration Statement (including, but not limited to, a Registration Statement relating to secondary offerings of securities of the Company, but excluding (i) Registration Statements relating solely to benefit plans or other
compensation awards for employees or other service providers, or debt securities, (ii) Registration Statements solely with respect to corporate reorganizations or other transactions under Rule 145 of the Securities Act, (iii) Registration
Statements relating solely to a primary offering by the Company and (iv) a registration on any registration form that does not permit secondary sales), and such notice shall describe the proposed registration and distribution. 
 (b) Each Holder desiring to include in any such Registration Statement all or any part of the Registrable Securities held by it shall,
within fifteen (15) days after the above-described notice from the Company, so notify the Company in writing. The Company shall afford each such Holder an opportunity to include in such Registration Statement all or part of the Registrable
Securities held by such Holder. 
  

 4 

 (c) If the Registration Statement is to be filed in connection with an Underwritten
Offering, all Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting. The Company shall use its
commercially reasonable efforts to cause the managing underwriter or underwriters of a proposed Underwritten Offering to permit the Registrable Securities to be included in a Registration Statement under this Section 1.3 to be included
on the same terms and conditions as any similar securities of the Company or any other security holder included therein and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method of distribution
thereof. 
 (d) Any Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any
Registration Statement pursuant to this Section 1.3 by giving written notice to the Company of its request to withdraw prior to the filing of the Registration Statement. 
 (e) In connection with any Underwritten Offering by the Company of its Common Stock pursuant to which a Holder is entitled to include its
Registrable Securities pursuant to this Section 1.3, such Holder, if requested in good faith by the Company and the managing underwriter of the Underwritten Offering, shall agree not to, directly or indirectly, offer, sell, pledge,
contract to sell (including any short sale), grant any option to purchase or otherwise dispose of any equity securities of the Company held by such Holder (except for any securities sold pursuant to such Registration Statement) or enter into any
hedging transaction relating to any equity securities of the Company for a period not to exceed ninety (90) days following the effective date of the applicable Registration Statement as agreed to by such parties; provided,
however, that the Company’s directors, executive officers and all other selling stockholders participating in such registration agree to such restrictions. For purposes of this Section 1.3, “hedging transaction”
means any short sale (whether or not against the box) or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any equity security (other than a broad-based market basket or index) that
includes, relates to or derives any significant part of its value from the Common Stock. 
 Section 1.4 Obligations of the Company.
Whenever required under Article I to effect the registration of any Registrable Securities, the Company will use its commercially reasonable efforts to effect the registration of Registrable Securities pursuant to this Agreement in accordance
with the intended methods of disposition thereof, and pursuant thereto the Company will as expeditiously as possible: 
 (a)
Prepare and file with the SEC a Registration Statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such Registration Statement to become effective, and keep such Registration Statement effective
for the period provided for in this Agreement. 
 (b) Promptly prepare and file with the SEC such amendments and supplements
to such Registration Statement and the prospectus used in connection with such Registration Statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such
Registration Statement for the period provided for in this Agreement. 
  

 5 

 (c) Promptly furnish to each Holder of Registrable Securities such numbers of copies of
such Registration Statement, each amendment and supplement thereto, the prospectus included in the Registration Statement in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to
facilitate the disposition of Registrable Securities owned by them. 
 (d) Promptly notify each Holder of Registrable
Securities covered by such Registration Statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of: (i) the happening of any event as a result of which the prospectus included in such
Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances
then existing, (ii) the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, and (iii) the receipt by the Company of any notification with
respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. 
 (e) Use its commercially reasonable efforts to cause all such Registrable Securities registered pursuant hereto to be listed on Nasdaq or
each securities exchange on which similar securities issued by the Company are then listed. 
 (f) If there has occurred any
event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing, the Company will use its commercially reasonable efforts to prepare and furnish to each Holder a reasonable number of copies of a supplement or amendment to such prospectus so
that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading in the light of
the circumstances then existing. 
 (g) In the event of the issuance by the SEC of any stop order suspending the effectiveness
of a Registration Statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities included in the Registration Statement for sale in any jurisdiction, the Company will use its
commercially reasonable efforts to promptly obtain the withdrawal of such order. 
 (h) Cooperate with each seller of
Registrable Securities and its counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority. 
 (i) Use its commercially reasonable efforts to register or qualify such Registrable Securities under such other state securities or blue sky laws as the selling Holders selling such Registrable Securities reasonably
request and do any and all other acts and things which may be reasonably necessary or reasonably advisable to enable such Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such 

  

 6 

 
Holder and to keep each such registration or qualification (or exemption therefrom) effective during the period which the Registration Statement is required
to be kept effective (provided, that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) subject itself to
taxation in any such jurisdiction or (iii) consent to general service of process in any such jurisdiction). 
 (j) Take
all other steps reasonably necessary to effect the registration of the Registrable Securities contemplated hereby. 
 Section 1.5 Furnish
Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Agreement with respect to the Registrable Securities of any Holder that such Holder shall furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall reasonably be required to effect the registration of such Holder’s Registrable Securities. 
 Section 1.6 Expenses of Registration. Subject to Section 1.2(b), the Company shall bear all expenses, other than underwriting
discounts and commissions, incurred by the Company in connection with registrations, filings or qualifications of Registrable Securities pursuant to Article I, including, without limitation, all registration, filing, and qualification fees,
printers’ and accounting fees and fees and disbursements of counsel for the Company and any other person or entity retained by the Company. Subject to Section 1.2(b), the Company will pay its internal expenses (including, without
limitation, all salaries and expenses of the Company’s employees performing legal or accounting duties), the expenses and fees for listing or approval for trading of the securities to be registered on each securities exchange on which similar
securities issued by the Company are then listed or quoted and the reasonable legal expenses of one counsel on behalf of the Holders (which legal expenses shall not exceed an aggregate of $25,000). 
 Section 1.7 Underwriting Requirements. No Holder may participate in any Underwritten Offering hereunder unless such Holder (a) agrees to sell
such Holder’s securities on the basis provided in any underwriting arrangements approved by the person or persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting arrangements and other documents reasonably required under the terms of such underwriting arrangements. 
 Section
1.8 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or
implementation of this Agreement. 
 Section 1.9 Indemnification. In the event any Registrable Securities are included in a
Registration Statement under this Article I: 
 (a) To the extent permitted by law, the Company will indemnify and hold
harmless each Holder, and its general or limited partners, officers, directors, members and employees (collectively, the “Representatives”), each underwriter, if any, and each person, if any, who controls such Holder or underwriter
within the meaning of the Securities Act or the 

  

 7 

 
Exchange Act, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange
Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively,
“Violations”): (i) any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement, including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the
Company of the Securities Act, the Exchange Act or any rule or regulation promulgated under the Securities Act or the Exchange Act; and the Company will pay to each such Holder, Representative, underwriter or controlling person, as incurred, any
legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this
Section 1.9(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld) unless
the Company shall have failed to pay the legal or other expenses as incurred in accordance with the foregoing provision, nor shall the Company be liable to any Holder, Representative, underwriter or controlling person for any such loss, claim,
damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such
Holder, Representative, underwriter or controlling person. 
 (b) To the extent permitted by law, each selling Holder,
severally and not jointly, will indemnify and hold harmless the Company, its Representatives, each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act, any underwriter, and any controlling person of
any such underwriter, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses,
claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with such registration; provided, however, that the indemnity agreement contained in this Section 1.9(b) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of such Holder, which consent shall not be unreasonably withheld. The obligation of each Holder to indemnify the Company and its Representatives shall be
limited to the net proceeds received by such Holder from the sale of Registrable Securities under such Registration Statement. 
 (c) Promptly after receipt by an indemnified party under this Section 1.9 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made
against any indemnifying party under this Section 1.9, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, 

  

 8 

 
that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right to
retain one separate counsel, with the reasonable fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
conflicting interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action
shall relieve such indemnifying party of liability to the indemnified party under this Section 1.9 to the extent that the indemnifying party has been prejudiced thereby. 
 (d) If the indemnification provided for in this Section 1.9 is held by a court of competent jurisdiction to be unavailable to
an indemnified party with respect to any loss, liability, claim, damage or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with
the statements or omissions that resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 (e) The
obligations of the Company and the Holders under this Section 1.9 shall survive the completion of any offering of Registrable Securities in a Registration Statement under this Article I, and otherwise. 
 Section 1.10 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Article
I may be transferred or assigned by a Holder provided that (i) the transfer or assignment of underlying Warrants and Registrable Securities complies with the Warrant Agreement (including Section 5.6 thereof); (ii) the Company is
furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (iii) such transferee or assignee agrees in writing to be subject to all
restrictions set forth in this Agreement as though it were a Holder and shall thereafter be deemed to be a Holder for all purposes of this Agreement; and (iv) such transfer or assignment shall be effective only if and to the extent immediately
following such transfer or assignment the further disposition of such securities by the transferee or assignee is not eligible to be made without any conditions under Rule 144. 
 Section 1.11 Additional Covenants. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind
described in Section 1.2(f) or Section 1.4(d) hereof, such Holder shall forthwith discontinue disposition of such Registrable Shares covered by such Registration Statement or prospectus until such Holder’s receipt of the
copies of the supplemented or amended prospectus contemplated by Section 1.4(f) hereof, or until it is advised in writing (the “Advice”) by the Company that the use of the applicable prospectus may be resumed, and has
received copies of any amended or supplemented 
  

 9 

 
prospectus or any additional or supplemental filings which are incorporated, or deemed to be incorporated, by reference in such prospectus and, if requested
by the Company, such Holder shall deliver to the Company all copies, other than permanent file copies then in such Holder’s possession, of the prospectus covering such Registrable Securities at the time of receipt of such request. Each Holder
further agrees not to utilize any material other than the applicable current prospectus in connection with the offering of Registrable Securities pursuant to this Agreement. 
 Section 1.12 Termination of Registration Rights. All registration rights granted under this Agreement with respect to a Holder shall terminate and
be of no further force and effect (i) as to any particular Holder, when such Holder no longer beneficially owns any Registrable Securities and (ii) in all respects on the first to occur of (A) April 1, 2014, (B) the date on
which no Registrable Securities are outstanding, (C) the closing date of any Fundamental Transaction (as defined in the Warrant Agreement) and (D) the date on which the entire principal amount of the Loans (as defined in the Loan
Agreement), together with all accrued and unpaid interest thereon, are paid in full. 
 Section 1.13 Current Public Information. The
Company will use commercially reasonable efforts to enable the Holders to sell Registrable Securities pursuant to Rule 144. 
 ARTICLE II

 MISCELLANEOUS 
 Section 2.1
Successors and Assigns. Except as otherwise provided in this Agreement, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and permitted assigns of the parties.
Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement. 
 Section 2.2 Amendments and Waivers. Any term of this Agreement may be amended or
waived with the written consent of the Company and the Holders of not less than a majority of the then outstanding Registrable Securities. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each Holder and its
permitted successors and assigns. 
 Section 2.3 Notices. All notices and other communications (and deliveries) provided for or
permitted hereunder shall be made in writing by hand delivery, facsimile, electronic mail, a recognized overnight delivery service, or first class registered or certified mail, return receipt requested, postage prepaid, addressed: if to a Holder, at
the address listed on Schedule A to the Warrant Agreement or the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 2.3, and if to the Company, as
follows: 
  

	 	Company:	Eddie Bauer Holdings, Inc. 

	 	  
	 10401 NE 8th
Street, Suite 500 

	 	 	Bellevue, WA 98004 

	 	 	Attention: General Counsel 

	 	 	Telephone: (425) 755-6544 

	 	 	Telecopier: (425) 755-7671 

	 	 	Email: freya.brier@eddiebauer.com 

  

 10 

 Except as otherwise provided herein, all such notices, consents, waivers and other communications shall be effective:
(a) if delivered by hand, when delivered; (b) if delivered by overnight express delivery service, on the next business day after deposit with such service; (c) if sent first class or certified mail, return receipt requested, postage
prepaid, on the fifth day after being deposited in the mail; and (d) if by telecopier or electronic mail, on the next business day of transmission if also confirmed by mail in the manner provided in this Section 2.3. 
 Section 2.4 Severability. If any term, provision, covenant or restriction of this Agreement is held by any governmental authority or a court of
competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

 Section 2.5 Jurisdiction; Consent to Service of Process. 
 (a) Each party hereto irrevocably and unconditionally (i) submits, for itself and its property, to the nonexclusive jurisdiction of
any New York State court or federal court of the United States of America sitting in the Borough of Manhattan in the City of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement, or for recognition or enforcement of any judgment; (ii) agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York State court in the Borough of Manhattan in the City of New
York or, to the extent permitted by law, federal court; (iii) waives, to the fullest extent it may legally and effectively do so, (A) any objection that it may now or hereafter have to the laying of venue of any such action or proceeding
in any such court and (B) any defense of an inconvenient forum to the maintenance of any such action or proceeding in any such court; and (iv) agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Agreement in the
courts of any jurisdiction. 
 (b) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 2.3. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law; provided that notice of the use of any such alternative
means of service shall be provided to each affected party in the manner provided in Section 2.3. 
 Section 2.6 WAIVER OF JURY
TRIAL. EACH PARTY HERETO (A) IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT; (B) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS 

  

 11 

 
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; AND
(C) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2.6. 
 Section 2.7 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
 Section 2.8 Entire Agreement. This Agreement and the documents and
agreements referred to herein constitute the entire agreement among the parties hereto pertaining to the subject matter hereof and supersede any and all other written or oral agreements existing between the parties hereto, which agreements are
expressly canceled. 
 Section 2.9 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only
and are not to be considered in construing or interpreting this Agreement. 
 (Signature Page Follows) 
  

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 The parties hereto have executed this Registration Rights Agreement as of the date first written above.

  

			
	EDDIE BAUER HOLDINGS, INC.
		
	By:	 	/s/ McNeil S. Fiske, Jr.

			
	Name:	 	McNeil S. Fiske, Jr.
	Title:	 	President and CEO

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