Document:

FES-EX10.26

FORBES ENERGY SERVICES LTD. 
ANNUAL BONUS PLAN

ARTICLE 1
ESTABLISHMENT AND PURPOSE

1.1    Purpose.  Forbes Energy Services Ltd., a Texas corporation (the "Company") hereby establishes this Annual Bonus Plan (the "Plan") as a sub-plan to the Company’s Incentive Compensation Plan.  The Plan is intended to increase shareholder value and the success of the Company by motivating key executives to perform to the best of their abilities and to achieve the objectives set forth by the Compensation Committee of the Board of Directors (the "Committee").  The Plan and any payouts hereunder are intended to qualify as performance-based compensation under Section 162(m) of the Code.

1.2    Sub-Plan to the Incentive Compensation Plan.  In accordance with Article 3 and Sections 9.1 and 12.2 of the Incentive Compensation Plan, the Plan shall be a sub-plan thereunder. 

1.3    Effective Date.  The Plan was adopted by the Committee on March 29, 2012 (as ratified by the Board of Directors) to be effective as of January 1, 2012.

ARTICLE 2
DEFINITIONS

Unless otherwise defined under the Incentive Compensation Plan, the following terms shall have the following meanings unless a different meaning is plainly required by the context:

2.1    "Actual Award" means the actual award (if any) payable to a Participant for the Performance Period.  The Actual Award is determined by the Payout Formula for the Performance Period, subject to the Committee’s authority under Section 3.5 to reduce the award otherwise determined by the Payout Formula.

2.2    "Base Salary" means as to any Performance Period, 100% of the Participant’s salary he or she earned for the applicable Performance Period.  Such Base Salary shall be determined prior to any deductions for taxes or benefits and prior to any deferrals of compensation pursuant to a Company-sponsored employee benefit plan.

2.3     "Board" means the Board of Directors of the Company.

2.4    "Code" means the Internal Revenue Code of 1986, as amended.

2.5    "Committee" means a committee selected by the Board to administer the Plan (or a subcommittee thereof) composed of not less than two directors, each of whom is an "outside director" (within the meaning of Section 162(m) of the Code).  If a Committee member shall fail to qualify as an "outside director" when administering the Plan with respect to a Target Award, such failure shall not invalidate any such Target Award granted by the Committee if such Target Award is otherwise validly granted.

2.6    "Company" means Forbes Energy Services Ltd., a Texas corporation, and its successors.

2.7    "Determination Date" means as to any Performance Period, the later of (i) the first day of the Performance Period, or (ii) the latest date possible which will not jeopardize the Plan’s qualification as performance-based compensation under Section 162(m) of the Code.

2.8    "Effective Date" means January 1, 2012.

2.9    "Incentive Compensation Plan" means the Forbes Energy Services Ltd. Incentive Compensation Plan.  The Plan shall be a sub-plan to the Incentive Compensation Plan.

2.10    "Maximum Award" means as to any Participant for any Performance Period, one million five hundred thousand dollars ($1,500,000.00).  The Maximum Award is the maximum amount which may be paid to a Participant for any Performance Period.

2.11    "Participant" means as to any Performance Period, an officer or other employee of the Company who has been selected by the Committee to participate in the Plan for the applicable Performance Period.

2.12    "Payout Formula" means as to any Performance Period, the formula or payout matrix established by the Committee pursuant to Section 3.4, in order to determine the Actual Awards (if any) to be paid to Participants.  The formula or matrix may differ from Participant to Participant.

2.13    "Performance Goal" means as defined in the Incentive Compensation Plan.

2.14    "Performance Measure" means as defined in the Incentive Compensation Plan.

2.15    "Performance Period" means any calendar year beginning on or after January 1, 2012.

2.16    "Plan" means this Annual Bonus Plan, a sub-plan to the Incentive Compensation Plan.

2.17    "Target Award" means the target award payable under the Plan to a Participant for the Performance Period, expressed as a percentage of his or her Base Salary or an amount, as determined by the Committee in accordance with Section 3.3.
ARTICLE 3
SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS

3.1    Selection of Participants.  On or prior to the Determination Date, the Committee, in its sole discretion, shall select the employees of the Company who shall be Participants for the Performance Period.  In selecting Participants, the Committee shall choose employees who are likely to have a significant impact on the performance of the Company.  Participation in the Plan is in the sole discretion of the Committee and on a Performance Period by Performance Period basis.  Accordingly, an employee who is a Participant for a given Performance Period in no way is guaranteed or assured of being selected as a Participant for any subsequent Performance Period.

3.2    Determination of Performance Goals.  On or prior to the Determination Date, the Committee, in its sole discretion, shall establish the Performance Goals and Performance Measures for each Participant for the Performance Period.  Such Performance Goals shall be set forth in writing.

3.3    Determination of Target Awards.  On or prior to the Determination Date, the Committee shall establish a Target Award for each Participant.  Each Participant’s Target Award shall be determined by the Committee in its sole discretion, and each Target Award shall be set forth in writing.

3.4    Determination of Payout Formula.  On or prior to the Determination Date, the Committee, in its sole discretion, shall establish a Payout Formula for purposes of determining the Actual Award (if any) payable to each Participant.  Each Payout Formula shall (i) be in writing, (ii) be based on a comparison of actual performance to the Performance Goals, (iii) provide for the payment of a Participant’s Target Award if the Performance Goals for the Performance Period are achieved, and (iv) provide for an Actual Award greater than or less than the Participant's Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance Goals.  Notwithstanding the preceding, no Participant’s Actual Award under the Plan may exceed the Maximum Award.

3.5    Determination of Actual Awards.  As soon as administratively practicable after the end of each Performance Period, the Committee shall certify in writing the extent to which the Performance Goals applicable to each Participant for the Performance Period were achieved or exceeded.  The Actual Award for each Participant shall be determined by applying the Payout Formula to the level of actual performance which has been certified by the Committee.  Notwithstanding any contrary provision of the Plan: (i) the Committee, in its sole discretion, may eliminate or reduce the Actual Award payable to any Participant that would otherwise be payable under the Payout Formula; and (ii) if a Participant’s employment with the Company is terminated by the Company for a reason other than Cause prior to the date the Actual Award for the Performance Period is paid, the Committee shall reduce his or her Actual Award proportionately based on the date of termination (and subject to further reduction or elimination under clause (i) of this sentence).  

ARTICLE 4
PAYMENT OF AWARDS

4.1    Right to Receive Payment.  Each Actual Award that may become payable under the Plan shall be paid solely from the general assets of the Company.  Nothing in the Plan shall be construed to create a trust or security interest, or to establish or evidence any Participant’s claim of any right other than as an unfunded, unsecured general creditor with respect to any payment to which he or she may be entitled.

4.2    Timing of Payment.  Payment of each Actual Award shall be made within sixty (60) days from conclusion of the applicable Performance Period; provided, however, that payment of an Actual Award shall not be made prior to the Committee’s certification set forth in Section 3.5 of the Plan.

4.3    Form of Payment.  Actual Awards shall be paid in cash (or its equivalent) in a single lump sum.  However, the Committee, in its sole discretion, may declare any Actual Award, in whole or in part, payable in the form of a stock bonus granted under the Incentive Compensation Plan or successor equity compensation plan.  The number of shares granted shall be determined by dividing the cash amount of the Actual Award by the Fair Market Value of a share of Company common stock on the date that the cash payment otherwise would have been made.  For this purpose, the term Fair Market Value shall be as defined in the Incentive Compensation Plan or successor equity compensation plan.

4.4    Payment in the Event of Death.  If a Participant dies prior to the payment of an Actual Award earned by him or her for a Performance Period, the Actual Award shall be paid to the Participant’s Beneficiary.  If a Participant fails to designate a Beneficiary or if each person designated as a Beneficiary predeceases the Participant or dies prior to distribution of the Participant’s benefits, then the Committee shall direct the distribution of such benefits to the Participant’s estate.

ARTICLE 5
ADMINISTRATION

5.1    Committee is the Administrator.  The Plan shall be administered by the Committee.

5.2    Committee Authority.  The Committee shall have all discretion and authority necessary or appropriate to administer the Plan and to interpret the provisions of the Plan, consistent with the qualification of the Plan as performance-based compensation under Section 162(m) of the Code.  Any determination, decision or action of the Committee in connection with the construction, interpretation, administration or application of the Plan shall be final, conclusive, and binding upon all persons, and shall be given the maximum deference permitted by law.

5.3    Tax Withholding.  The Company shall withhold all applicable taxes from any payment, including any non-U.S., federal, state, and local taxes.  In the case of payment in the form of a stock bonus pursuant to Section 4.3, the granting and vesting of such stock bonus shall be subject to Section 10.2 of the Incentive Compensation Plan, or such comparable provisions of any successor plan regarding the withholding of taxes.

ARTICLE 6
GENERAL PROVISIONS

6.1    Nonassignability.  A Participant shall have no right to assign or transfer any interest under the Plan.

6.2    No Effect on Employment; Coordination with Employment Agreements.  The establishment and subsequent operation of the Plan, including eligibility as a Participant, shall not be construed as conferring any legal or other rights upon any Participant for the continuation of his or her employment for any Performance Period or any other period.  Generally, employment with the Company is on an at-will basis only.  Except as may be provided in an employment contract with the Participant, the Company expressly reserves the right, which may be exercised at any time during a Performance Period, to terminate any individual’s employment without cause and without regard to the effect such termination might have upon the Participant’s receipt of an Actual Award under the Plan.  In the event of any inconsistency between the terms of the Plan and the terms of any employment agreement between the Company and the Participant (whether now in effect or later adopted or amended), the terms of the Plan shall prevail; further, whether and to the extent any inconsistency exists shall be interpreted in the sole discretion of the Committee.  

6.3    Section 409A of the Code.  The Plan, including any future amendments thereto which do not expressly amend this Section 6.6, is designed, and shall be administered and operated, in the good faith determination of the Board or the Committee, to comply with Section 409A of the Code.  Although the Company intends to administer the Plan so that it complies with the requirements of Section 409A of the Code, the Company does not warrant that any Actual Award under the Plan will in fact comply with Section 409A or qualify for favorable tax treatment under any other provision of federal, state, local or foreign law.  The Company shall not be liable to any Participant for any tax, interest or penalties the Participant might owe as a result of its participation in the Plan.

6.4    Savings Clause.  The Plan is intended to comply in all respects with applicable laws and regulations.  In case any one or more of the provisions of the  Plan shall be held invalid, illegal or unenforceable in any respect under applicable law or regulation, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable provision shall be deemed null and void; provided, however, to the extent permissible by law, any provision which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit the Plan to be construed in compliance with all applicable laws so as to foster the intent of the Plan.

6.5    Non-Alienation of Benefits.  Except to the extent set forth herein as to the rights of the estates or beneficiaries of employees to receive payments, Actual Awards under the Plan are non-assignable and non-transferable and are not subject to anticipation, adjustment, alienation, encumbrance, garnishment, attachment or levy of any kind.

ARTICLE 7
AMENDMENT AND TERMINATION

The Board or a duly authorized committee thereof may amend or terminate the Plan at any time and for any reason; provided, however, that if and to the extent required to ensure the Plan’s qualification under Section 162(m) of the Code, any such amendment shall be subject to shareholder approval.  Any amendment shall comply with Section 409A of the Code.

*     *     *     *     *

1

95011v.2ex10-25.htm

Exhibit 10.25

 

AMENDMENT NO. 8 TO CREDIT AGREEMENT

 

This AMENDMENT NO. 8 TO CREDIT AGREEMENT (this “Amendment”) is dated as of December 20, 2012 by and among INTERNATIONAL TEXTILE GROUP, INC., a Delaware corporation (“ITG”), the other Borrowers and Credit Parties signatory hereto, GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“GE Capital”), for itself and as Agent (“Agent”), and the other Lenders signatory hereto.  Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them in the Credit Agreement (as hereinafter defined).

 

R E C I T A L S:

 

WHEREAS, Borrowers, the other Credit Parties, the Agent and the Lenders entered into that certain Amended and Restated Credit Agreement dated as of March 30, 2011 (as amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the parties to the Credit Agreement have agreed to an amendment to, the Credit Agreement as set forth herein.

 

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

 

1           Amendments to Credit Agreement.

 

1.1           Subclause (ii) of Section 1.15(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“(ii) Agent will not request payment under the WLR/RBS Letter of Credit II until such time as a Specified WLR/RBS LC II Event under clause (i), (ii), (iii), (iv) or (vi) of the definition thereof shall have occurred (as determined by Agent in its sole and absolute discretion); provided that, notwithstanding the foregoing, the Agent shall, at the request of the Majority Lenders, request payment under the WLR/RBS Letter of Credit II at such time as a Specified WLR/RBS LC II Event under clause (i), (ii), (iii), (iv) or (vi) of the definition thereof shall have occurred,”

 

1.2           Section 5.4(f) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“(f) the Investment by ITG in ITG – Phong Phu Limited Company, a joint venture organized under the laws of Vietnam (“Phong Phu”), in the form of an unsecured subordinated loan from ITG (either directly or through one of its Subsidiaries) to Phong Phu (the “Phong Phu JV Loan”); provided that (v) such Investment shall be made by no later than June 24, 2011, (w) such Investment shall not exceed $3,500,000, (x) at the time such Investment is made, no Default or Event of Default shall have occurred and be continuing, (y) such Phong Phu JV Loan shall be evidenced by a promissory note in form and substance satisfactory to the Agent and delivered to the Agent in original copy together with instruments of transfer executed in blank and (z) either (i) such Phong Phu JV Loan shall have been repaid in full in cash by Phong Phu by no later than February 28, 2013 (which repayment shall have been evidenced by a certificate of a Responsible Officer of the Borrower Representative delivered to Agent certifying that such amounts have been repaid by Phong Phu by no later than such date) or (ii) Agent, for the benefit of the Lenders, shall have received payment under the WLR/RBS Letter of Credit in the full amount thereof on or before March 31, 2013 in accordance with its terms (which amounts shall have been applied by Agent first to prepay outstanding Swing Loans, and second to prepay outstanding Revolving Loans owing by the Borrowers without a permanent reduction of the Aggregate Revolving Loan Commitment); provided that, to the extent the Phong Phu JV Loan shall have been repaid in full in cash by Phong Phu to ITG on or prior to February 28, 2013, Agent shall, on behalf of the Lenders, terminate the WLR/RBS Letter of Credit in accordance with its terms;”

 

  

 

  

 

1.3           Section 11.1 of the Credit Agreement is hereby amended by inserting the following new defined terms in proper alphabetical order thereto:

 

““Eighth Amendment Effective Date” has the meaning assigned to such term in that certain Amendment No. 8 to Credit Agreement dated as of December 20, 2012 among Borrowers, the other Credit Parties signatory thereto, Agent and the Lenders signatory thereto.”

 

1.4           Section 11.1 of the Credit Agreement is hereby amended by amending and restating the following defined terms in their entirety to read as follows:

 

““Specified WLR/RBS LC II Event” means the occurrence of any of the following:

 

(i)            delivery of written notice by Agent and/or Lenders to WLR Recovery Fund IV, L.P. indicating that it or they have elected to accelerate the Obligations pursuant to Section 7.2 or otherwise;

 

(ii)           an Event of Default under Section 7.1(f), Section 7.1(g), Section 7.1(m) or Section 7.1(n) has occurred and is continuing;

 

(iii)          either (x) the amount of Eligible Inventory, as reported in the most recently delivered Borrowing Base Certificate, is less than or equal to $10,000,000 in the aggregate (determined by reference to the lesser of fair market value or cost) or (y) an Event of Default shall have occurred as a result of a failure to comply with Section 4.2(h);

 

(iv)           the Revolving Termination Date;

 

(v)            Excess Availability (as determined by Agent in its sole and absolute discretion), as of any date of determination, is less than $5,000,000; or

 

(vi)           the expiration or termination date of the WLR/RBS Letter of Credit II (whether as a result of non-renewal, non-extension or otherwise) being less than 30 days from the then current date.”

 

““WLR/RBS Letter of Credit” means an irrevocable standby letter of credit in form and substance satisfactory to Agent that (i) is issued by RBS Citizens, N.A. in an amount equal to $3,675,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof and (iii) names WLR Recovery Fund IV L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on the Second Amendment Effective Date and (A) which letter of credit shall have been amended (the “WLR/RBS LC Amendment”) on or prior to the Sixth Amendment Effective Date in a manner satisfactory to Agent to (x) extend the expiration date thereof from June 13, 2012 to December 22, 2012, (y) change the reference to May 14, 2012 therein to November 22, 2012 and (z) provide that Agent may request payment thereunder to the extent an Event of Default shall have occurred and be continuing and (B) which letter of credit shall have been further amended (the “Second WLR/RBS LC Amendment”) on or prior to the Eighth Amendment Effective Date in a manner satisfactory to Agent to (x) extend the expiration date thereof from December 31, 2012 to March 31, 2013 and (y) change the reference to November 22, 2012 therein to February 28, 2013.”

 

  

-2-

  

 

““WLR/RBS Letter of Credit II” means (A) prior to the Eighth Amendment Effective Date, (x) an evergreen standby letter of credit in form and substance satisfactory to Agent that (i) is issued by RBS Citizens, N.A. in an amount equal to $20,000,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Fourth Amendment Effective Date, as amended from time to time, or (y) any replacement evergreen standby letter of credit that names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been issued in accordance with Section 1 of the Support Agreement and which letter of credit shall have been delivered in original copy to Agent and (B) from and after the Eighth Amendment Effective Date, an irrevocable standby letter of credit in form and substance satisfactory to Agent (the “Replacement WLR/RBS Letter of Credit II”) that (i) is issued by RBS Citizens, N.A. in an amount equal to $20,000,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Eighth Amendment Effective Date.”

 

2           Representations and Warranties.  In order to induce Agent and the Lenders to enter into this Amendment, each Borrower and each other Credit Party represents and warrants to Agent and each Lender (which representations and warranties shall survive the execution and delivery of this Amendment), that:

 

(a)           the execution, delivery and performance by each Credit Party of this Amendment has been duly authorized by all necessary corporate and partnership action and this Amendment is a legal, valid and binding obligation of such Credit Party enforceable against such Credit Party in accordance with its terms; and

 

(b)           upon the effectiveness of this Amendment, all of the representations and warranties contained in the Credit Agreement and in the other Loan Documents (other than those which speak expressly only as of an earlier date) are true and correct in all material respects on and as of the date of the effectiveness of this Amendment after giving effect to this Amendment and the transactions contemplated hereby.

 

  

-3-

  

 

3           Conditions to Effectiveness.  This Amendment shall be effective on the date when each of the following conditions has been satisfied (the “Eighth Amendment Effective Date”):

 

(a)           This Amendment shall have been duly executed and delivered by each Borrower, each other Credit Party party hereto, Agent, the Supermajority Revolving Lenders and the Majority Lenders;

 

(b)           Agent shall have received duly executed and delivered copies of the Second WLR/RBS LC Amendment and the Replacement WLR/RBS Letter of Credit II; and

 

(c)           Agent shall have received, to the extent invoiced, payment of all out-of-pocket expenses (including the legal fees and expenses of Latham & Watkins LLP, counsel to Agent).

 

4           Miscellaneous.

 

4.1           Effect; Ratification.

 

(a)           Except as specifically set forth above, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.  Without limiting the generality of the foregoing, each Credit Party reaffirms its guaranty of the Obligations and the Liens securing those guaranties.

 

(b)           The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document, nor constitute amendment of any provision of the Credit Agreement or any other Loan Document, except as specifically set forth herein.  Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby.

 

(c)           Each Credit Party acknowledges and agrees that the amendments set forth herein are effective solely for the purposes set forth herein and that the execution and delivery by Agent and the Lenders of this Amendment shall not be deemed (i) except as expressly provided in this Amendment, to be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any other Loan Document, (ii) to create a course of dealing or otherwise obligate Agent or Lenders to forbear, waive, consent or execute similar amendments under the same or similar circumstances in the future, or (iii) to amend, prejudice, relinquish or impair any right of Agent or Lenders to receive any indemnity or similar payment from any Person or entity as a result of any matter arising from or relating to this Amendment.

 

4.2           Counterparts and Signatures by Fax.  This Amendment may be executed in any number of counterparts, each such counterpart constituting an original but all together one and the same instrument.  Any party delivering an executed counterpart of this Amendment by fax shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect of this Amendment.

 

  

-4-

  

 

4.3           Severability.  In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

4.4           Loan Document.  This Amendment shall constitute a Loan Document.

 

4.5           GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL, IN ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

[Signature Pages Follow]

 

  

-5-

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

 

	 	BORROWERS: 

INTERNATIONAL TEXTILE GROUP, INC.

BURLINGTON INDUSTRIES LLC

CONE JACQUARDS LLC

CONE DENIM LLC

CARLISLE FINISHING LLC

SAFETY COMPONENTS FABRIC

TECHNOLOGIES, INC.

By:      /s/Craig J. Hart                                              

Name:     Craig J. Hart

Title:       Vice President and Treasurer

NARRICOT INDUSTRIES LLC

By: International Textile Group, Inc., its sole member

By:       /s/Craig J. Hart                                             

Name:      Craig J. Hart

Title:        Vice President and Treasurer

 

  

[Signature Page to Amendment No. 8 to Amended and Restated Credit Agreement]

  

 

	 	
OTHER CREDIT PARTIES:

	 	  
	 	
APPAREL FABRICS PROPERTIES, INC.

	 	
BURLINGTON INDUSTRIES V, LLC

	 	
CONE ADMINISTRATIVE AND SALES LLC

	 	
CONE INTERNATIONAL HOLDINGS II, INC.

	 	
INTERNATIONAL TEXTILE GROUP ACQUISITION GROUP LLC

	 	
BURLINGTON WORLDWIDE INC.

	 	
CONE DENIM WHITE OAK LLC

	 	
CONE INTERNATIONAL HOLDINGS, INC.

	 	
CONE ACQUISITION LLC

	 	
WLR CONE MILLS IP, INC.

	 	 
	 	 
	 	  

By:      /s/Craig J. Hart                                      

Name:     Craig J. Hart

Title:       Vice President and Treasurer

	 	 
	 	 
	 	
VALENTEC WELLS, LLC

By: International Textile Group, Inc.,

its sole member

	 	 
	 	  

By:      /s/Craig J. Hart                                      

Name:     Craig J. Hart

Title:       Vice President and Treasurer

  

[Signature Page to Amendment No. 8 to Amended and Restated Credit Agreement]

  

 

	 	
AGENT AND LENDERS:

	 	
 

	 	  

GENERAL ELECTRIC CAPITAL CORPORATION, as the Agent and a Lender

 

By:           /s/Philip F. Carfora                                    

Name:     Philip F. Carfora

Title:  Its Duly Authorized Signatory

 

  

[Signature Page to Amendment No. 8 to Amended and Restated Credit Agreement]

  

 

	 	

TD BANK, N.A., as a Lender

By:      /s/Jang Kim                                   

Name:     Jang Kim

Title:       Vice President

 

  

[Signature Page to Amendment No. 8 to Amended and Restated Credit Agreement]

  

 

	 	BANK OF AMERICA, N.A., as a Lender 

By:       /s/John Yankauskas                    

Name:    John Yankauskas

Title:       Sr. Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}]]