Document:

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement
(“Subscription Agreement”) is being used by Andina Acquisition Corporation, a Cayman Islands company (the “Company”),
for a private placement of ordinary shares, par value $0.0001 per share (the “Shares”), of the Company to ___________
(collectively, the “Investor”) for a purchase price of $10.18 per share, on the terms contained in this Subscription
Agreement.

 

The Investor
hereby agrees as follows:

 

1.Subscription
for Securities. Subject to the terms and conditions set forth in this Subscription Agreement, the Investor hereby subscribes
for a maximum of ____ Shares, as may be reduced (but not increased) at the Investor’s sole discretion, by multiplying ____
by the ratio (the “Scaling Ratio”) of: the number of the Company’s “public shares” (as such term
is used in the Disclosure Document (as defined below)) issued and outstanding immediately following the Merger (as defined below)
over 2,550,000.

 

2.Closing
and Delivery of Securities. The closing (“Closing”) will occur 10 days after the consummation of the transactions
contemplated by the Agreement and Plan of Reorganization (the “Merger Agreement”), dated as of August 17, 2013, as
amended, by and among the Company, Andina Merger Sub, Inc., Tecno Corporation, Tecnoglass S.A. and C.I. Energia Solar S.A. E.S.
Windows (the “Merger”). Accordingly, there will be no Closing if the transactions contemplated by the Merger Agreement
are not consummated. In the event the transactions contemplated by the Merger Agreement are consummated, then on the Closing, (i)
the Investor will wire the purchase price to an account specified by the Company; and (ii) the Company shall deliver to the Investor
certificates representing the Shares being purchased.

 

3.Outside
Date. The Investor shall be obliged to complete the transactions contemplated hereunder only if the Merger has been consummated
on or before December 23, 2013.

 

4.Transfer
of Warrants. In consideration of the agreements made by the Investor herein, if the transactions contemplated by the Merger
Agreement are consummated and the Closing occurs, the A. Lorne Weil 2006 Irrevocable Trust (“Insider”) and/or its designees
will, at or promptly after the Closing, transfer to the Investor a aggregate of warrants (“Insider Warrants”) of the
Company beneficially owned by it, in an amount equal to the lesser of (i) _____ and (ii) ______ multiplied by the scaling ratio.
For the avoidance of doubt, each such Insider Warrant entitling the holder thereof to purchase one ordinary share of the Company
at a price of $8.00 per share. Promptly after execution of this Agreement, the Company shall instruct its warrant agent not to
register any transfer of the Insider Warrants to anyone other than the Investor which would have the effect of decreasing the number
of Insider Warrants held by the Insider below the lesser of (x) 796,875 and (y) 796,875 multiplied by the Scaling Ratio.

 

5.Increase
to Scaling Ratio. Notwithstanding anything contained herein, the Investor may, in its sole and absolute discretion, notify
the Company and the Insider prior to the Closing that it chooses to apply a ratio in excess of the Scaling Ratio (to a maximum
of one) in determining the number of Shares and Insider Warrants to be purchased hereunder.

 

6.Registration
Rights. The Company agrees that not later than four months after the Closing, the Company shall file a registration statement
covering the resale by the Investor of the Shares and the Insider Warrants (and underlying ordinary shares) and use its best efforts
to have such registration statement declared effective by the Securities and Exchange Commission as soon as possible.

 

7.Investor
Representations and Warranties. The Investor hereby represents and warrants as follows:

 

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7.1.Accredited
Investor Status. Investor is an accredited investor within the meaning of Section 2(15) of the Securities Act of 1933, as amended
(“Securities Act”), and Rule 501 promulgated thereunder.

 

7.2.Information
About the Company.

 

(a)The Company has
made available to the Investor a copy of the Company’s Definitive Proxy Statement relating to the Company’s extraordinary
general meeting of shareholders to approve the Merger Agreement (the “Disclosure Document”). Investor has read the
Disclosure Document, including the “Risk Factors” set forth in the Disclosure Document, together with this Subscription
Agreement, and fully understands the information set forth therein and herein. Investor has been given access to full and complete
information regarding the Company as Investor has requested and has utilized such access to Investor’s satisfaction for the
purpose of verifying the information included herein and therein, and Investor has either met with or been given reasonable opportunity
to meet with the officers of the Company for the purpose of asking reasonable questions of such officers concerning the terms and
conditions of the offering and the business of the Company now and hereafter to be conducted following consummation of the transactions
contemplated by the Merger Agreement and all such questions have been answered to Investor’s full satisfaction. Investor
has also been given an opportunity to obtain any additional relevant information to the extent reasonably available to the Company.
After reading such information and materials, Investor understands that there is no assurance as to the future performance of the
Company, the Shares or the Insider Warrants.

 

(b)Other than as
set forth herein, Investor has received no representation or warranty from the Company or any of its officers, directors, equity
holders, employees or agents in respect of Investor’s investment in the Shares or Insider Warrants. Investor is not subscribing
for the Shares as a result of or subsequent to: (i) any advertisement, article, notice or other communication published in any
newspaper, magazine or similar media or broadcast over television, radio or the Internet or (ii) any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising.

 

7.3.Speculative
Investment. Investor is aware that the Shares and Insider Warrants are speculative investments that involve a high degree of
risk and Investor may suffer the total loss of its investment. Investor has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Shares and Insider Warrants and has obtained,
in Investor’s judgment, sufficient information to evaluate the merits and risks of an investment in the Shares and Insider
Warrants. Investor believes that the investment in the Shares and Insider Warrants is suitable for it based upon its investment
objectives and financial needs, and Investor has adequate means for providing for its current financial needs and contingencies
and has no need for liquidity with respect to its investment in the Shares and Insider Warrants. The investment in the Shares and
Insider Warrants does not constitute a significant portion of Investor’s investment portfolio.

 

7.4.Restrictions
on Transfer. Investor understands that (i) neither the Shares nor Insider Warrants have been registered under the Securities
Act of 1933, as amended (“Securities Act”), or the securities laws of any state in reliance on specific exemptions
from registration and (ii) the Shares and Insider Warrants cannot be resold, pledged, assigned or otherwise disposed of unless
they are subsequently registered under the Securities Act and under applicable securities laws of certain states, or an exemption
from such registration is available. The certificates issued to the Investor representing the Shares and Insider Warrants will
bear a restrictive legend relating to such restrictions. In addition, Investor understands that the Company is relying on Investor’s
representations and agreements for the purpose of determining whether this transaction meets the requirements of the exemptions
afforded by the Securities Act and certain state securities laws.

 

7.5.Investment
Representation. Investor is acquiring the Shares and Insider Warrants for its own account for investment and not with a view
to, or for sale in connection with, any subsequent distribution of the securities, nor with any present intention of selling or
otherwise disposing of all or any part of the Shares or Insider Warrants in violation of the Federal securities laws. Investor
understands that, although there may potentially be a public market for the Shares or Insider Warrants, there is none currently
and there is no assurance that any such market will exist in the future.

 

    	4

    	 

    

 

7.6.Authority.
Investor is authorized and qualified to become an investor in the Shares and Insider Warrants and the person signing this Subscription
Agreement on behalf of Investor has been duly authorized by Investor to do so.

 

8.Company
Representations and Warranties. The Company hereby represents and warrants to the Investor as follows:

 

8.1.Authority.
The Company has all necessary corporate power and authority to enter into this Agreement and to consummate the transactions contemplated
hereby. All corporate action necessary to be taken by the Company to authorize the execution, delivery and performance of this
Agreement has been duly and validly taken and this Agreement has been duly executed and delivered by the Company. Subject to the
terms and conditions of this Agreement, this Agreement constitutes the valid, binding and enforceable obligation of the Company,
enforceable in accordance with its terms, except as enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or similar laws of general application now or hereafter in effect affecting the rights and remedies
of creditors and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity);
and (ii) the applicability of the federal and state securities laws and public policy as to the enforceability of the indemnification
provisions of this Agreement. The sale by the Company of the Shares does not conflict with the amended and restated memorandum
and articles of association of the Company or any material contract by which the Company or its property is bound, or any federal
or state laws or regulations or decree, ruling or judgment of any United States or state court applicable to the Company or its
property.

 

8.2.Disclosure
Document. The Disclosure Document does not contain any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading.

 

9.Governing
Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York regardless of
the law that might otherwise govern under applicable principles of conflicts of law thereof.

 

10.Counterparts.
This Subscription Agreement may be executed in one or more counterparts, each of which will be deemed an original but all of which
together will constitute one and the same instrument. The execution of this Subscription Agreement may be by actual or facsimile
signature.

 

11.Benefit.
Except as otherwise set forth herein, this Subscription Agreement is binding upon and inures to the benefit of the parties hereto
and their respective heirs, executors, personal representatives, successors and assigns.

 

12.Notices.
Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery,
(iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

 

    	5

    	 

    

 

 

If to the Company:

 

Andina Acquisition Corporation

Carrera 10 No. 28-49

Torre A. Oficina 20-05,

Bogota, Colombia

Attn: B. Luke Weil

Fax:

Email: luke@gmail.com

 

If to Investor:

 

 

Notice shall be deemed given on the earlier of (i) actual receipt
by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation, (iii) the date on which an e-mail transmission
was received by the receiving party’s on-line access provider (iv) the date reflected on a signed delivery receipt, or (vi)
two (2) business days following tender of delivery or dispatch by express mail or delivery service.

 

13.Disclosure;
Exchange Act Filings. Promptly after execution of this Agreement, the Company will issue a press release describing this
Agreement and subsequently file a Current Report on Form 8-K under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) reporting such execution. The parties to this Agreement shall cooperate with one another to assure that all such disclosures
are accurate and consistent.

 

14.Oral
Evidence. This Subscription Agreement constitutes the entire agreement between the parties with respect to the subject
matter hereof and supersede all prior oral and written agreements between the parties hereto with respect to the subject matter
hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally, but rather, only by a statement
in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination is sought.

 

    	6

    	 

    

 

IN WITNESS WHEREOF, the undersigned have
executed this Subscription Agreement as of the 19th day of December, 2013.

 

 

	 	By:	 

	 	Name:
	 	Title:
	 	Tax ID:
	 	Address:
	 	Number of Shares To Be Purchased: 
	 	Number of Insider Warrants To Be Received: 

 

AGREED AND ACCEPTED BY:

 

ANDINA ACQUISITION CORPORATION

 

 

	By:	 	 

Name:

Title:

 

 

THE A. LORNE WEIL 2006 IRREVOCABLE TRUST

(SOLELY WITH RESPECT TO SECTION 4)

 

 

	By:	 	 

Name:

Title:

 

 

 

    	7Exhibit 10.1

 

JOINDER AND AMENDMENT NO. 2 TO LOAN
DOCUMENTS

 

Rocky Brands, Inc.,
an Ohio corporation (“Parent”), Lehigh Outfitters, LLC, a Delaware limited liability company (“Lehigh”),
Lifestyle Footwear, Inc., a Delaware corporation (“Lifestyle”), Rocky Brands Wholesale LLC, a
Delaware limited liability company (“Rocky Wholesale”), Rocky Brands International, LLC, an Ohio limited
liability company (“Rocky International”), and Rocky Canada, Inc., a corporation formed under the laws
of the Province of Ontario (“Rocky Canada”), and Creative Recreation, LLC, an Ohio limited liability
company (“Creative”) (Parent, Lehigh, Lifestyle, Rocky Wholesale, Rocky International, Rocky Canada, and Creative
collectively, the “Borrowers” and individually a “Borrower”), the Lenders listed on the signatures
pages hereto (collectively, the “Lenders” and individually a “Lender”) and PNC Bank, National
Association, as Agent for the Lenders (“PNC”) (PNC, in such capacity, the “Agent”), agree
as follows effective as of December 13, 2013 (the “Effective Date”):

 

		1.	Recitals.

 

		1.1	As of October 20, 2010, certain of Borrowers, Lenders, and Agent, entered into a Revolving Credit,
Guaranty, and Security Agreement (as amended, extended, modified, or restated, the “Loan Agreement”). Capitalized
terms used herein and not otherwise defined will have the meanings given such terms in the Loan Agreement as amended. The Loan
Agreement, the Other Documents, and all related loan and/or security documents related thereto are referred to herein as the “Loan
Documents”.

 

		1.2	The Loan Documents were amended effective as of May 9, 2013 pursuant to Amendment No. 1 to Loan
Agreement.

 

		1.3	Parent has formed Creative as a Subsidiary to acquire the assets of Kommonwealth, Inc., a California
corporation, in a Permitted Acquisition. Accordingly, Creative is hereby joining the Loan Documents as a Borrower. In addition,
Borrowers, Lenders, and Agent, have agreed to amend the Loan Agreement on the terms and subject to the conditions set forth herein.

 

		2.	Joinder.

 

		2.1	As of the Effective Date, Creative assumes all the obligations of a “Borrower” under
the Loan Agreement and Notes, and agrees that it is a Borrower and bound as a Borrower under the terms of the Loan Agreement and
Notes, as if it had been an original signatory to the Loan Agreement and Notes. Creative shall be jointly and severally liable
for the Obligations with each of the other Borrowers. All references in the other Loan Documents to a “Borrower”, “Grantor”,
“Debtor”, “Loan Party”, “Obligor” or similar terms will include Creative, and Creative is hereby
made a party to each of such documents as if Creative had been an original signatory to the Loan Documents.

 

		2.2	Creative hereby assigns, pledges and grants to the Agent a security interest in all of its right,
title and interest in and to the Collateral to secure the Obligations. Creative acknowledges that Agent is authorized to file such
UCC Financing Statements with respect to the Collateral as it shall determine are necessary or advisable.

 

		2.3	Creative represents and warrants to Agent that the representations and warranties set forth in
the Loan Agreement applicable to it are true and correct in all material respects as of the date hereof.

 

    	 

    	 

    

 

 

		2.4	Creative’s address for notices under the Agreement shall be the address of the Borrowers
set forth in Section 16.6 of the Agreement.

 

		3.	Amendment.

 

		3.1	The Schedules to the Loan Agreement are hereby amended to add the supplemental disclosures set
forth on the schedules attached hereto.

 

		3.2	Section 1.2 of the Loan Agreement is hereby amended to add the following defined terms in alphabetical
order:

 

“EBITDA
Adjustment” means the lesser of (a) $750,000, and (b) the amount of the non-recurring transaction expenses incurred in
connection with the Permitted Acquisition by Creative, to the extent such expenses have been included as expenses in the determination
of net income, have not been capitalized, and have been paid in cash prior to, or within 60 days after the closing thereof.

 

“Suppressed
Availability” means, as of any day, the lesser of (a) $5,000,000, and (b) the amount by which (i) the Formula Amount
exceeds (ii) the Maximum Revolving Advance Amount less the Maximum Undrawn Amount of all Letters of Credit.

 

		3.3	The defined terms “Average Availability,” “Fixed Charge Coverage Ratio,”
“Quarterly Liquidity,” “Satisfaction Event,” and "Triggering Event", each set forth in Section
1.2 of the Loan Agreement are hereby deleted and replaced with the following:

 

“Average
Availability” shall mean, as of the date of determination, the sum of Undrawn Availability, plus Qualified Cash, plus
Suppressed Availability for each day of the sixty (60) day period ending on such date, divided by sixty (60).

 

“Fixed
Charge Coverage Ratio” shall mean and include for any fiscal period, for Parent and its Subsidiaries on a consolidated
basis, the ratio of (a) EBITDA, plus non-cash charges against net income other than write-downs of Eligible Accounts, Eligible
Inventory and Eligible Real Property, minus Unfinanced Capital Expenditures made, minus expenses for income or franchise taxes
included as an expense in the determination of net income (other than any provision for deferred taxes), minus payment of deferred
taxes relating to income and franchise taxes accrued in any prior period, plus the EBITDA Adjustment, to (b) Senior Debt Payments
made, plus the amount of each reduction to the Amortizing Tranche required under Section 2.4, plus dividends paid by Parent, plus
aggregate payments made on account of pension-related obligations to the extent not deducted as an expense in the determination
of EBITDA during such fiscal period, all for the same fiscal period.

 

“Quarterly Liquidity”
shall mean, for any fiscal quarter, an amount equal to (a) the daily average (as of the end of each Business Day) during such fiscal
quarter of the sum of: (i) the lesser of (A) the Formula Amount minus the outstanding amount of the Revolving Advances, or (B)
the Maximum Revolving Advance Amount, plus Suppressed Availability, minus the Maximum Undrawn Amount of all Letters of Credit,
minus the outstanding amount of the Revolving Advances, plus (ii) Qualified Cash, minus (b) all amounts owing to Borrowers’
trade creditors which are 60 days or more past due as of the end of such fiscal quarter.

 

    	- 2 -

    	 

    

 

“Satisfaction Event”
shall mean the first (1st) date after a Triggering Event on which both of the following conditions are satisfied: (a)
the sum of Undrawn Availability, plus Qualified Cash, plus Suppressed Availability, has equaled more than $15,000,000 for a period
of ninety (90) or more consecutive calendar days after such Triggering Event, and (b) no Default or Event of Default is continuing.

 

“Triggering
Event” shall mean any one of the following: (a) the occurrence of an Event of Default, (b) the first (1st)
date after the Closing Date (or the most recent Satisfaction Event if a Triggering Event has previously occurred) on which the
sum of Undrawn Availability, plus Qualified Cash, plus Suppressed Availability, has equaled less than $10,000,000 for a period
of ten (10) or more consecutive days, or (c) any date on which the sum of Undrawn Availability, plus Qualified Cash, plus Suppressed
Availability, equals less than $7,500,000.

 

		3.4	Section 7.7 of the Loan Agreement is hereby deleted and replaced with the following:

 

7.7Dividends.
Declare, pay or make any dividend or distribution on any shares of the Equity Interests of Parent (other than dividends or distributions
payable in its stock, or split-ups or reclassifications of its stock) or apply any of its funds, property or assets to the purchase,
redemption or other retirement of any Equity Interests, or of any options to purchase or acquire any such Equity Interests of Parent,
except that Parent shall be permitted to pay dividends to its shareholders or apply any of its funds to such purchase, redemption,
retirement or acquisition each fiscal quarter, provided that (a) after giving effect to the payment of any of the foregoing
there shall not exist any Event of Default or Default, (b) a notice of termination with regard to this Agreement shall not be outstanding,
(c) the sum of Undrawn Availability, plus Qualified Cash, plus Suppressed Availability will be at least $10,000,000 immediately
after giving effect to each such payment, (d) Average Availability will be at least $10,000,000 immediately after giving effect
to each such payment, (e) the proforma Fixed Charge Coverage Ratio of Parent and its Subsidiaries on a consolidated basis will
be at least 1.25 to 1.00 for the twelve (12) month period ending on the last day of the fiscal quarter immediately prior to the
fiscal quarter of the proposed payment, after giving effect to such payment, as evidenced by a pro-forma Compliance Certificate
delivered by the Borrowing Agent, and (f) each such payment may be made only after Agent shall have received a Compliance Certificate
for such immediately prior fiscal quarter. All calculations and projections to be made pursuant to this Section shall be subject
to the Agent’s approval and provided to the Agent prior to the making of the applicable payment.

 

		3.5	The second sentence of Section 9.2 of the Loan Agreement is hereby deleted and replaced with the
following:

 

Commencing upon
the sum of Undrawn Availability, plus Qualified Cash, plus Suppressed Availability being less than $15,000,000 for a period in
excess of five (5) consecutive days, unless waived by Agent in its sole discretion or until the sum of Undrawn Availability, plus
Qualified Cash, plus Suppressed Availability exceeds $17,000,000 for a period in excess of ten (10) consecutive days thereafter),
deliver to Agent on or before the second (2nd) Business Day of each week as and for the prior week, a report of sales,
credits, and collections (which shall be calculated as of the last day of the prior week and which shall not be binding upon Agent
or restrictive of Agent’s rights under this Agreement).

 

    	- 3 -

    	 

    

 

 

		3.6	The Security Agreement - Limited Liability Company Membership (the “Security Agreement”)
between Parent and Agent and dated as of the Closing Date is hereby amended to include Creative within the definition of “Limited
Liability Company” set forth in Section 1 of the Security Agreement. Parent hereby grants to Agent a security interest in
and Lien upon 100% of the Equity Interests in Creative to secure the Obligations. By its execution of this Amendment, Creative
joins the Acknowledgement attached to the Security Agreement as a “Limited Liability Company” and agrees to be bound
by the terms thereof as if Creative had been an original signatory thereto.

 

		4.	Consents. 

 

		4.1	Notwithstanding the requirements of Section 4.15(h) of the Loan Agreement, remittances with respect
to Receivables acquired in the Permitted Acquisition by Creative shall not be required to be paid to an account that is a Blocked
Account or Collection Account until January 31, 2014 and thereafter. Receivables and Inventory acquired in the Permitted Acquisition
by Creative shall not constitute Eligible Receivables or Eligible Inventory unless Agent agrees otherwise in writing.

 

		4.2	Notwithstanding the requirements of Sections 9.7 and 9.9 of the Loan Agreement, the financial results
of Creative shall not be required to be consolidated with the Borrowers until December 31, 2013 and thereafter.

 

		5.	Representations, Warranties and Covenants. To induce Agent and Lenders to enter into
this Amendment, each Borrower represents, warrants, and covenants, as applicable, as follows:

 

		5.1	Representations and Warranties. The representations and warranties of Borrowers contained
in the Loan Documents are deemed to have been made again on and as of the date of execution of this Amendment, except to the extent
that such representations and warranties were expressly limited to an earlier date.

 

		5.2	No Defaults. No Event of Default or Default exists on the date hereof.

 

		5.3	No Claims. Each Borrower represents and warrants that, to its knowledge, it has no claims,
counterclaims, setoffs, actions or causes of actions, damages or liabilities of any kind or nature whatsoever whether at law or
in equity, in contract or in tort, existing as of the date of this Amendment (collectively, “Claims”) against
Agent or Lenders, their direct or indirect parent corporations or any direct or indirect Affiliates of such parent corporations,
or any of the foregoing's respective directors, officers, employees, agents, attorneys and legal representatives, or the heirs,
administrators, successors or assigns of any of them (collectively, “Lender Parties”) that directly or indirectly
arise out of, are based upon or are in any manner connected with any Prior Related Event. As an inducement to Agent and Lenders
to enter into this Amendment, each Borrower on behalf of itself, and all of its respective successors and assigns hereby knowingly
and voluntarily releases and discharges all Lender Parties from any and all Claims, whether known or unknown in existence as of
the date hereof, that directly or indirectly arise out of, are based upon or are in any manner connected with any Prior Related
Event. As used herein, the term “Prior Related Event” means any transaction, event, circumstance, action, failure
to act, occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted or begun at any
time prior to the Effective Date or occurred, existed, was taken, was permitted or begun in accordance with, pursuant to or by
virtue of any of the terms of the Loan Documents or any documents executed in connection with the Loan Documents or which was related
to or connected in any manner, directly or indirectly to the extension of credit represented by the Loan Documents.

 

    	- 4 -

    	 

    

 

		5.4	Authorization. This Amendment and the related documents have been duly authorized by each
Borrower. Each Borrower has the full right, power and authority to enter into this Amendment and perform its respective obligations
hereunder.

 

		5.5	No Misrepresentations. No information or material submitted to Agent in connection with
this Amendment contains any material misstatement or misrepresentation nor omits to state any material fact or circumstance.

 

		5.6	No Conflicts. The execution and delivery of this Amendment and all deliveries required hereunder,
and the performance by each Borrower of its obligations hereunder do not and will not conflict with any provision of law or the
organizational documents of Borrowers or of any agreement binding upon Borrowers.

 

		5.7	Enforceability. This Amendment and each of the related documents is a legal and valid and
binding obligation of Borrowers, enforceable against Borrowers in accordance with its terms.

 

		5.8	Ratification. Except as expressly modified herein, the Loan Agreement, as amended, is and
remain in full force and effect. The Loan Documents are hereby ratified and confirmed as the continuing obligation of Borrowers.

 

		6.	Conditions Precedent. The closing of this Amendment is subject to the following conditions
precedent:

 

		6.1	Fees and Expenses. Borrowers will pay to Agent for the benefit of Lenders an amendment fee
in the amount of $15,000, plus all reasonable and documented attorneys’ fees and expenses of Agent incurred in connection
with this Amendment. Such fees and expenses may be charged to Borrowers by Agent as a Revolving Advance.

 

		6.2	Closing Memorandum. Borrowers will have delivered (and executed to the extent applicable)
each of the documents listed on the Closing Memorandum attached hereto as Exhibit 6.2 in form and substance satisfactory
to Agent and its counsel.

 

		6.3	Other. All corporate and other proceedings, and all documents, instruments and other legal
matters in connection with this Amendment and the related documentation shall be satisfactory in form and substance to Agent and
its counsel.

 

		6.4	The representations and warranties of Borrowers in Section 5 herein will be true.

 

		7.	General.

 

		7.1	This Amendment is an “Other Document” as defined in the Loan Agreement.

 

		7.2	Nothing contained herein will be construed as waiving any Default or Event of Default under the
Loan Documents or will affect or impair any right, power or remedy of Agent or Lenders under or with respect to the Loan Documents,
as amended, or any agreement or instrument guaranteeing, securing or otherwise relating to any of the Advances.

 

    	- 5 -

    	 

    

 

 

		7.3	All representations and warranties made by Borrowers herein will survive the execution and delivery
of this Amendment.

 

		7.4	This Amendment will be binding upon and inure to the benefit of Borrowers, Agent, and Lenders and
their respective successors and assigns.

 

		7.5	This Amendment will in all respects be governed and construed in accordance with the laws of the
State of Ohio.

 

		7.6	This Amendment and the documents and instruments to be executed hereunder constitute the entire
agreement among the parties with respect to the subject matter hereof and shall not be amended, modified or terminated except by
a writing signed by the party to be charged therewith.

 

		7.7	Each Borrower agrees to execute such other instruments and documents and provide Agent with such
further assurances as Agent may reasonably request to more fully carry out the intent of this Amendment.

 

		7.8	This Amendment may be executed in a number of identical counterparts. If so, each such counterpart
shall collectively constitute one agreement. Any signature delivered by a party by facsimile transmission or other electronic means
shall be deemed to be an original signature hereto.

 

		7.9	No provision of this Amendment is intended or shall be construed to be for the benefit of any third
party.

 

Signature Page Follows

 

    	- 6 -

    	 

    

 

 

 

Signature Page to Joinder and Amendment
No. 2 to Loan Documents

 

Executed as of the Effective Date

 

	 	Rocky
    Brands, Inc.,
	 	Lifestyle
    Footwear, Inc.,
	 	Rocky
    Brands Wholesale LLC,
	 	Lehigh
    Outfitters, LLC, 
	 	Rocky
    Brands International, LLC,
	 	Rocky
    Canada, Inc.,
	 	Creative
    Recreation, LLC
	 	as
    Borrowers
	 	 	 
	 	 	 
	 	By: 	/s/ James
    E. McDonald
	 	 	James E.
    McDonald 
	 	 	Executive
    Vice President and 
	 	 	Chief Financial
    Officer of each Borrower
	 	 	 
	 	PNC Bank, National
    Association, 
	 	as Agent and a Lender
	 	 	 
	 	 	 
	 	By: 	/s/ Christopher Tully
	 	 	Christopher Tully
	 	 	Vice President
	 	 	 
	 	U.S. Bank National
    Association, 
	 	as a Lender 
	 	 	 
	 	 	 
	 	By: 	/s/ Aaron R. Sceva
	 	 	Aaron R. Sceva
	 	 	Assistant Vice President

 

    	- 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]