Document:

<PAGE>
                                                                   Exhibit 10.41

                         FIRST AMENDMENT TO AMENDED AND
                      RESTATED LOAN AND SECURITY AGREEMENT

THIS FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this
"Amendment") is made and entered into this 12th day of January, 2004, by and
between TROPICAL SPORTSWEAR INT'L CORPORATION, a Florida corporation
(hereinafter referred to as "Borrower") with its chief executive office and
principal place of business at 4902 West Waters Avenue, Tampa, Florida 33634,
and FLEET CAPITAL CORPORATION, a Rhode Island corporation (hereinafter referred
to as "Lender") with an office at 300 Galleria Parkway, Suite 800, Atlanta,
Georgia 30339.

                                    RECITALS:

Lender and Borrower are parties to a certain Amended and Restated Loan and
Security Agreement dated September 9, 2003 (as at any time amended, the "Loan
Agreement"), pursuant to which Lender has made a certain term loan to Borrower.

         Borrower has requested that Lender make available to Borrower an
additional term loan in the principal amount of $2,000,000. Subject to the terms
and conditions set forth herein, Lender is willing to make such an additional
term loan to Borrower.

NOW, THEREFORE, for TEN DOLLARS ($10.00) in hand paid and other good and
valuable consideration, the receipt and sufficiency of which are hereby
severally acknowledged, the parties hereto, intending to be legally bound
hereby, agree as follows:

         1. DEFINITIONS. All capitalized terms used in this Amendment, unless
         otherwise defined herein, shall have the meaning ascribed to such terms
         in the Loan Agreement.

         2. AMENDMENTS TO LOAN AGREEMENT. The Loan Agreement is hereby amended
         as follows:

         (a) By deleting the definitions of "Applicable Margin," "Mortgage,"
         "Term Loan" and "Term Note" contained in Section 1.1 of the Loan
         Agreement and by substituting in lieu thereof the following new
         definitions of "Mortgage," "Term Loan" and "Term Note":

                           "Applicable Margin" shall mean (a) as to Base Rate
                  Loans, 2.00%, and (b) as to LIBOR Loans, 4.50%.

                           "Mortgage" shall mean the Amended and Restated
                  Florida Mortgage, Fixture Filing, Security Agreement and
                  Assignment of Rents and Leases to be executed by Borrower in
                  favor of Lender on or about the Closing Date and by which the
                  Existing Mortgage shall be modified to, among other things,
                  provide for a Lien on the Tropical Headquarters and reflect
                  the effectiveness of the Loan Assignment.

                           "Term Loan" shall mean, collectively, (i) Term Loan A
                  and (iii) Term Loan B.

                           "Term Note" shall mean, collectively, (i) Term Note A
                  and (ii) Term Note B.

         (b) By adding the following definitions of "First Amendment Closing
         Date," "Term Loan A," "Term Loan B," "Term Note A," and "Term Note B"
         to Section 1.1 of the Loan Agreement, in proper alphabetical sequence:

                           "First Amendment Closing Date" shall mean January
                  12th, 2004.

                           "Term Loan A" shall mean, collectively, (i) the
                  Existing Term Loan, (ii) the New Term Loan.

                                        1

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                           "Term Loan B" shall have the meaning ascribed to it
                  in Section 2.1(b) hereof.

                           "Term Note A" shall mean the Amended and Restated
                  Renewal and Increase Term Note made by Borrower to the order
                  of Lender evidencing the obligation of Borrower to pay the
                  aggregate unpaid principal amount of Term Loan A (and any
                  promissory note or notes that may be issued from time to time
                  in substitution, renewal, extension, replacement or exchange
                  therefor), substantially in the form of EXHIBIT A hereto, with
                  all blanks properly completed, either as originally executed
                  or as the same may from time to time be supplemented,
                  modified, amended, renewed, extended or refinanced

                           "Term Note B" shall mean the Term Note B made by
                  Borrower to the order of Lender evidencing the obligation of
                  Borrower to pay the aggregate unpaid principal amount of Term
                  Loan B (and any promissory note or notes that may be issued
                  from time to time in substitution, renewal, extension,
                  replacement or exchange therefor), substantially in the form
                  of Exhibit A-1 hereto, with all blanks properly completed,
                  either as originally executed or as the same may from time to
                  time be supplemented, modified, amended, renewed, extended or
                  refinanced.

         (c) By deleting Section 2.1 of the Loan Agreement and by substituting
         in lieu thereof the following new Section 2.1:

                  Section 2.1 Existing Term Loan; Manner of Borrowing and
                  Disbursing New Term Loan and Term Loan B.

                                    (a) Subject to and upon the terms and
                  conditions set forth in the Existing Loan Agreement, Bank of
                  America made the Existing Term Loan available to Borrower. The
                  Existing Term Loan was assigned by Bank of America to Lender
                  pursuant to the Loan Assignment. The aggregate principal
                  amount of the Existing Term Loan on the Closing Date was
                  $7,000,000. Subject to and upon the terms and conditions set
                  forth in the Loan Agreement, Lender made a Base Rate Loan to
                  Borrower on the Closing Date in a principal amount equal to
                  $1,000,000 (the "New Term Loan"). The proceeds of the New Term
                  Loan were used by Borrower solely to repay the Swap
                  Obligation.

                                    (b) Subject to and upon the terms and
                  conditions of, and in reliance upon the representations and
                  warranties made under, this Agreement, Lender agrees to make a
                  Base Rate Loan to Borrower on the First Amendment Closing Date
                  in a principal amount equal to $2,000,000 ("Term Loan B").
                  Upon satisfaction of the applicable conditions set forth in
                  Section 8 of the First Amendment to Amended and Restated Loan
                  and Security Agreement, Lender shall make the proceeds of Term
                  Loan B available to Borrower on the First Amendment Closing
                  Date.

                                    (c) Borrower shall not be entitled to
                  reborrow any amounts repaid with respect to the Term Loan.

         (d) By deleting Section 2.2 of the Loan Agreement and by substituting
         in lieu thereof the following new Section 2.2:

                  Section 2.2 Term Note.

                                    (a) The obligation of Borrower to repay Term
                  Loan A shall also be evidenced by Term Note A. Term Note A
                  shall be dated the Closing Date and duly executed and
                  delivered by Borrower.

                                    (b) The obligation of Borrower to repay Term
                  Loan B shall also be evidenced by Term Note B. Term Note B
                  shall be dated the First Amendment Closing

                                        2
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                  Date and duly executed and delivered by Borrower.

         (e) By deleting Section 2.3 of the Loan Agreement and by substituting
         in lieu thereof the following new Section 2.3:

                  Section 2.3 Repayment of Principal of Term Loan.

                                    (a) The principal amount of Term Loan A is
                  due and payable, and shall be repaid in full by Borrower, in
                  consecutive quarterly installments of $200,000 each, payable
                  on the first day of each calendar quarter, commencing on
                  October 1, 2003; provided that the unpaid principal balance of
                  Term Loan A is due and payable, and shall be repaid in full by
                  Borrower, on the Maturity Date or, if sooner, on the
                  Commitment Termination Date.

                                    (b) The principal amount of Term Loan B is
                  due and payable, and shall be repaid in full by Borrower, in
                  consecutive quarterly installments of $50,000 each, payable on
                  the first day of each calendar quarter, commencing on April 1,
                  2004; provided that the unpaid principal balance of Term Loan
                  B is due and payable, and shall be repaid in full by Borrower,
                  on the Maturity Date or, if sooner, on the Commitment
                  Termination Date.

         (f) By adding Exhibit A-1 attached hereto to the Loan Agreement,
         immediately following Exhibit A thereto.

         3. RATIFICATION AND REAFFIRMATION. Borrower hereby ratifies and
reaffirms the Obligations, each of the Loan Documents and all of Borrower's
covenants, duties, indebtedness and liabilities under the Loan Documents.

         4. INTEREST RATE DISCLOSURE. The Base Rate on the date hereof is 4.00%
per annum and, therefore, the rate of interest in effect hereunder on the date
hereof, expressed in simple interest terms is 6.00% per annum with respect to
any portion of the Loans bearing interest as a Base Rate Loan.

         5. ACKNOWLEDGMENTS AND STIPULATIONS. Borrower acknowledges and
stipulates that the Loan Agreement and the other Loan Documents executed by
Borrower are legal, valid and binding obligations of Borrower that are
enforceable against Borrower in accordance with the terms thereof; all of the
Obligations are owing and payable without defense, offset or counterclaim (and
to the extent there exists any such defense, offset or counterclaim on the date
hereof, the same is hereby waived by Borrower); the security interests and liens
granted by Borrower in favor of Lender are duly perfected, first priority
security interests and liens; and the unpaid principal amount of Term Loan A on
and as of January 9, 2004, totaled $7,600,000.

         6. REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants to
Lender, to induce Lender to enter into this Amendment, that no Default or Event
of Default exists on the date hereof; the execution, delivery and performance of
this Amendment have been duly authorized by all requisite corporate action on
the part of Borrower and this Amendment has been duly executed and delivered by
Borrower; and all of the representations and warranties made by Borrower in the
Loan Agreement are true and correct on and as of the date hereof.

         7. REFERENCE TO LOAN AGREEMENT. Upon the effectiveness of this
Amendment, each reference in the Loan Agreement to "this Agreement,"
"hereunder," or words of like import shall mean and be a reference to the Loan
Agreement, as amended by this Amendment.

         8. BREACH OF AMENDMENT. This Amendment shall be part of the Loan
Agreement and a breach of any representation, warranty or covenant herein shall
constitute an Event of Default.

         9. CONDITIONS PRECEDENT. The effectiveness of the amendments contained
in Section 2 hereof are subject to the satisfaction of each of the following
conditions precedent, in form and substance satisfactory to Lender, unless
satisfaction thereof is specifically waived in writing by Lender:

                  (a) No Default or Event of Default shall exist;

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                  (b) The Revolver Lenders shall have received a duly executed
         Second Amended and Restated Loan and Security Agreement from Borrower
         and the other borrowers party to the Revolving Loan Agreement, in form
         and substance satisfactory to them;

                  (c) Lender shall have received a duly executed original of
         this Amendment from Borrower, together with a Consent and Reaffirmation
         duly signed by Tropical Sportswear Company, Inc., Savane International
         Corp. and Apparel Network Corporation;

                  (d) Lender shall have received a duly executed original Term
         Note B from Borrower in the form attached to the Loan Agreement as
         Exhibit A-1;

                  (e) Lender shall have received certified copies of resolutions
         of Borrower's board of directors authorizing the execution of this
         Amendment, Term Note B and any other Loan Documents and each document
         required to be delivered by any Section hereof;

                  (f) Lender shall have received a duly executed amendment to
         the Mortgage from Borrower, in form and substance satisfactory to
         Lender;

                  (g) Lender shall have received endorsements or commitments for
         endorsements to the existing mortgagee title insurance policies
         insuring the Liens of the Mortgage, which shall be in form and
         substance satisfactory to Lender and which shall give effect to the
         mortgage amendment described in the foregoing clause (f);

                  (h) Lender shall have received reimbursement from Borrower for
         the payment of all applicable documentary stamp, intangibles,
         recording, note or other similar taxes payable with respect to the
         mortgage amendment described in clause (f); and

                  (i) Borrower shall have taken such other actions as Lender may
         reasonably request.

         10. EXPENSES OF LENDER. Borrower agrees to pay, ON DEMAND, all costs
and expenses incurred by Lender in connection with the preparation, negotiation
and execution of this Amendment and any other Loan Documents executed pursuant
hereto and any and all amendments, modifications, and supplements thereto,
including, without limitation, the costs and fees of Lender's legal counsel and
any taxes or expenses associated with or incurred in connection with any
instrument or agreement referred to herein or contemplated hereby.

         11. EFFECTIVENESS; GOVERNING LAW. This Amendment shall be effective
upon acceptance by Lender in Atlanta, Georgia (notice of which acceptance is
hereby waived), whereupon the same shall be governed by and construed in
accordance with the internal laws of the State of Georgia.

         12. SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

         13. NO NOVATION, ETC.. Except as otherwise expressly provided in this
Amendment, nothing herein shall be deemed to amend or modify any provision of
the Loan Agreement or any of the other Loan Documents, each of which shall
remain in full force and effect. This Amendment is not intended to be, nor shall
it be construed to create, a novation or accord and satisfaction, and the Loan
Agreement as herein modified shall continue in full force and effect.

         14. COUNTERPARTS; TELECOPIED SIGNATURES. This Amendment may be executed
in any number of counterparts and by different parties to this Amendment on
separate counterparts, each of which, when so executed, shall be deemed an
original, but all such counterparts shall constitute one and the same agreement.
Any signature delivered by a party by facsimile transmission shall be deemed to
be an original signature hereto.

         15. FURTHER ASSURANCES. Borrower agrees to take such further actions as
Lender shall reasonably request from time to time in connection herewith to
evidence or give effect to the amendments set forth herein or any

                                        4
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of the transactions contemplated hereby.

         16. SECTION TITLES. Section titles and references used in this
Amendment shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreements among the parties hereto.

         17. RELEASE OF CLAIMS. TO INDUCE LENDER TO ENTER INTO THIS AMENDMENT,
BORROWER HEREBY RELEASES, ACQUITS AND FOREVER DISCHARGES LENDER, AND ALL
OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS OF LENDER, FROM
ANY AND ALL LIABILITIES, CLAIMS, DEMANDS, ACTIONS OR CAUSES OF ACTION OF ANY
KIND OR NATURE (IF THERE BE ANY), WHETHER ABSOLUTE OR CONTINGENT, DISPUTED OR
UNDISPUTED, AT LAW OR IN EQUITY, OR KNOWN OR UNKNOWN, THAT BORROWER NOW HAS OR
EVER HAD AGAINST LENDER ARISING UNDER OR IN CONNECTION WITH ANY OF THE LOAN
DOCUMENTS OR OTHERWISE. BORROWER REPRESENTS AND WARRANTS TO LENDER THAT BORROWER
HAS NOT TRANSFERRED OR ASSIGNED TO ANY PERSON ANY CLAIM THAT BORROWER EVER HAD
OR CLAIMED TO HAVE AGAINST LENDER.

                  [Remainder of Page Left Intentionally Blank.]

                                        5
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         18. WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, THE PARTIES HERETO EACH HEREBY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY
ACTION, SUIT, COUNTERCLAIM OR PROCEEDING ARISING OUT OF OR RELATED TO THIS
AMENDMENT.

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

ATTEST:                             TROPICAL SPORTSWEAR INT'L CORPORATION

/s/ Karen S. Castillo               By: /s/ Robin J. Cohan
----------------------------            ------------------------------------
KAREN S. CASTILLO, Secretary            ROBIN J. COHAN, Executive Vice
                                        President, Chief Financial Officer
                                        and Treasurer

                                    Accepted in Atlanta, Georgia, this 12th day
                                    of January, 2004:

                                    FLEET CAPITAL CORPORATION

                                    By: /s/ Elizabeth Waller
                                        -----------------------------------
                                      Title: Senior Vice President

                            CONSENT AND REAFFIRMATION

The undersigned guarantors of the Obligations of Borrower at any time owing to
Lender hereby (i) acknowledge receipt of a copy of the foregoing First Amendment
to Amended and Restated Loan and Security Agreement; (ii) consent to Borrower's
execution and delivery thereof and of the other documents, instruments or
agreements Borrower agrees to execute and deliver pursuant thereto; (iii) agree
to be bound thereby; and (iv) affirm that nothing contained therein shall modify
in any respect whatsoever its respective guaranty of the Obligations and
reaffirm that such guaranty is and shall remain in full force and effect.

IN WITNESS WHEREOF, each of the undersigned has executed this Consent and
Reaffirmation as of the date of such First Amendment to Amended and Restated
Loan and Security Agreement.

ATTEST:                             TROPICAL SPORTSWEAR COMPANY, INC.

/s/ Karen S. Castillo               By: /s/ Robin J. Cohan
---------------------                   ------------------
KAREN S. CASTILLO, ASSISTANT            ROBIN J. COHAN, EXECUTIVE VICE

                                       -6-

<PAGE>

SECRETARY                               President and Chief Financial Officer

ATTEST:                             SAVANE INTERNATIONAL CORP.

/s/ Karen S. Castillo               By: /s/ Robin J. Cohan
---------------------------             ------------------------------------
KAREN S. CASTILLO, Secretary            ROBIN J. COHAN, Executive Vice
                                        President, Chief Financial Officer
                                        and Treasurer

ATTEST:                             APPAREL NETWORK CORPORATION

/s/ Karen S. Castillo               By: /s/ Robin J. Cohan
-------------------------------         -------------------------------------
KAREN S. CASTILLO, Secretary            ROBIN J. COHAN, Executive Vice
                                        President, Chief Financial Officer
                                        and Treasurer

                                        7
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                                   EXHIBIT A-1
                                       TO
                AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
                               FORM OF TERM NOTE B

U.S.$2,000,000                                         January 12, 2004
                                                        Atlanta, Georgia

         FOR VALUE RECEIVED, the undersigned, TROPICAL SPORTSWEAR INT'L
CORPORATION, a Florida corporation (herein called the "Borrower"), hereby
promises to pay to the order of FLEET CAPITAL CORPORATION, a Rhode Island
corporation (herein, together with any subsequent holder hereof, called the
"Holder"), the principal sum of TWO MILLION AND 00/100 DOLLARS ($2,000,000), in
such amounts and on such dates specified in SECTION 2.3 of the Loan Agreement,
in strict accordance with the terms thereof. Borrower likewise unconditionally
promises to pay to Holder interest from and after the date hereof on the unpaid
principal balance hereof at such interest rates, payable at such times and
computed in such manner as are specified in SECTIONS 2.4, 2.5 and 2.10 of the
Loan Agreement, in strict accordance with the terms thereof.

         This Term Note B ("Note") is issued pursuant to, and is a "Term Note"
referred to in, the Amended and Restated Loan and Security Agreement, dated
September 9, 2003, as amended by that certain First Amendment to Amended and
Restated Loan and Security Agreement, dated the date hereof (as at any time
amended, the "Loan Agreement"), between Borrower and Holder, and Holder is and
shall be entitled to all benefits thereof and of all Loan Documents executed and
delivered in connection therewith. All capitalized terms used herein, unless
otherwise defined herein, shall have the meanings ascribed to such terms in the
Loan Agreement.

         This Note is subject to optional prepayment in accordance with the
provisions of SECTION 2.18 of the Loan Agreement. Notwithstanding anything to
the contrary contained herein, the entire unpaid principal balance of and
accrued interest on this Note shall be due and payable immediately on the
Commitment Termination Date.

         All payments of principal and interest shall be made in U.S. Dollars
and in immediately available funds to Holder at the office designated by Holder
from time to time.

         Upon or after the occurrence of an Event of Default, the principal
balance and all accrued interest of this Note may be declared (or shall become)
due and payable in the manner and with the effect provided in the Loan
Agreement. If this Note is collected by or through an attorney at law, then
Borrower shall be obligated to pay, in addition the principal balance and
accrued interest hereof, reasonable attorneys' fees, expenses and court costs.
From and after the occurrence of an Event of Default, the outstanding principal
amount hereof shall bear interest at the Default Rate.

         In no contingency or event whatsoever, whether by reason of advancement
of the proceeds hereof or otherwise, shall the amount paid or agreed to be paid
to Holder for the use, forbearance or detention of money advanced hereunder
exceed the highest lawful rate permissible under any law which a court of
competent jurisdiction may deem applicable hereto; and, in the event of any such
payment inadvertently paid by Borrower or inadvertently received by Holder, such
excess sum shall be, at Borrower's option, returned to Borrower forthwith or
credited as a payment of principal, but shall not be applied to the payment of
interest. It is the

                                        8
<PAGE>

intent hereof that Borrower not pay or contract to pay, and that Holder not
receive or contract to receive, directly or indirectly in any manner whatsoever,
interest in excess of that which may be paid by Borrower under Applicable Law.

         Time is of the essence of this Note. To the fullest extent permitted by
Applicable Law, Borrower, for itself and its legal representatives, successors
and assigns, expressly waives presentment, demand, protest, notice of dishonor,
notice of non-payment, notice of maturity, notice of protest, presentment for
the purpose of accelerating maturity, diligence in collection, and the benefit
of any exemption or insolvency laws.

         Wherever possible each provision of this Note shall be interpreted in
such a manner as to be effective and valid under Applicable Law, but if any
provision of this Note shall be prohibited or invalid under Applicable Law, such
provision shall be ineffective to the extent of such prohibition or invalidity
without invalidating the remainder of such provision or remaining provisions of
this Note. No delay or failure on the part of Holder in the exercise of any
right or remedy hereunder shall operate as a waiver thereof, nor as an
acquiescence in any default, nor shall any single or partial exercise by Holder
of any right or remedy preclude any other or further exercise of such right or
remedy or the exercise of any other right or remedy. Holder, at its option, may
enforce its rights against any collateral securing this Note without enforcing
its rights against Borrower, any Guarantor of the indebtedness evidenced hereby
or any other property or indebtedness due or to become due to Borrower. Borrower
agrees that, without releasing or impairing Borrower's liability hereunder,
Holder may at any time release, surrender, substitute or exchange any collateral
securing this Note and may at any time release any party primarily or
secondarily liable for the indebtedness evidenced by this Note.

         The rights of Holder and obligations of Borrower hereunder shall be
construed in accordance with and governed by the laws (without giving effect to
the conflict of law principles thereof) of the State of Georgia. This Note is
intended to take effect as an instrument under seal under Georgia law.

         IN WITNESS WHEREOF, Borrower has caused this Note to be executed and
delivered by its duly authorized officer, on the date first above written.

ATTEST:                            TROPICAL SPORTSWEAR INT'L CORPORATION

/s/ Karen S. Castillo              By: /s/ Robin J. Cohan
---------------------                  ----------------------------------------
KAREN S. CASTILLO, Secretary           ROBIN J. COHAN, Executive Vice President,
(CORPORATE SEAL)                        Chief Financial Officer and Treasurer

Florida Documentary Stamp Taxes in the amount of $____________________ have been
paid in connection with the recording of the First Amendment to Amended and
Restated Florida Mortgage, Fixture Filing, Security Agreement and Assignment of
Rents and Leases, which modifies the Mortgage that secures this Note.

                                        9<PAGE>

                                                                   Exhibit 10.42

                              SETTLEMENT AGREEMENT

         THIS SETTLEMENT AGREEMENT (this "Agreement") is entered into as of the
31st day of October, 2003 ("Effective Date") by and among TROPICAL SPORTSWEAR
INT'L CORPORATION, a Florida corporation ("Tropical") and NELSON L. MCPHERSON,
JR. ("McPherson"). The term "Parties" refers to all of the foregoing, and the
term "Party" refers to each of the foregoing.

                  WHEREAS, Tropical and McPherson are parties in a civil action
styled Tropical Sportswear Int'l Corporation vs. Christopher B. Munday, Gregory
L. Williams and Nelson L. McPherson, Jr., in the Circuit Court in and for the
Thirteenth Judicial Circuit of Hillsborough County, Florida, Case No: 03-7619,
Division I (the "Litigation"); and

                  WHEREAS, the Litigation pertains to Tropical's disputed
obligations to Christopher B. Munday ("Munday"), Gregory L. Williams
("Williams") and McPherson resulting from Tropical's termination of the
employment of Munday, Williams and McPherson, effective August 15, 2003
("Termination Date"); and

                  WHEREAS, the Parties have successfully mediated a resolution
of the Litigation, the terms and conditions of which are embodied in this
Agreement; and

                  NOW, THEREFORE, in consideration of the payments and covenants
described below, and in consideration of other good and valuable consideration,
the receipt and sufficiency of all of which are hereby acknowledged, Tropical
and McPherson agree as to the following terms and conditions:

         1.       The foregoing recitals are true and correct.

         2. A.    Tropical shall compensate McPherson in the sum of Six
                  Hundred Forty Eight Thousand Dollars and No Cents
                  ($648,000.00). This entire amount of compensation is severance
                  for termination of his employment with Tropical and, except as
                  otherwise expressly stated hereunder, is in fulfillment of all
                  obligations of Tropical to McPherson.

            B.    The amount of compensation set forth in paragraph 2.A. above,
                  shall be paid to McPherson less all sums required to be
                  withheld by Tropical pursuant to federal, state, local and
                  foreign law or regulation. The withholding sum equals the
                  amount of One Hundred Seventy One Thousand Three Hundred
                  Ninety Six Dollars and No Cents ($171,396.00). McPherson
                  acknowledges receipt of the sum of Four Hundred Seventy Six
                  Thousand Six Hundred Four Dollars and No Cents ($476,604.00),
                  which is the total compensation less the withholding sum.

                                       1

<PAGE>

        3. A.     In addition, Tropical shall pay McPherson the sum of
                  Seventy Eight Thousand Eight Hundred Twenty Dollars and Twenty
                  Cents ($78,820.20), as compensation "grossed up" for the value
                  of, and discharge of Tropical from any responsibility in
                  connection with, the following insurance:

<TABLE>
<CAPTION>
    Type               Policy Value            Carrier             Annual Cost
    ----               ------------            -------             -----------
<S>                    <C>                     <C>                 <C>
Family HMO             n/a                     Aetna               $    13,752

Group Life             $500,000                Aetna               $  8,171.75

Family Dental          n/a                     CompBenefits        $    350.48

Individual Life        Prudential              Prudential          $       800

Executive Group
   Life                $1,000,000              C.N.A.              $       760

Supplemental
   Disability          $5000/month             MetLife             $      1547
                       $7100/month             Provident           $     2,110

Accidental Death
   & Dismemberment     $500,000                Aetna               $       120

Group Travel
   Accident            $3,000,000              Reliance Standard   $       120
                       in event of
                       death
</TABLE>

                  Tropical states that, in view of McPherson's representation
                  that he intends to continue making payments on one or more of
                  the above insurances, Tropical at this time has no intention
                  to affirmatively terminate any of the insurance described
                  above, in order to permit McPherson an opportunity to continue
                  the insurance and to pay for the insurance directly. Tropical
                  at this time does hope that it can change the billing to
                  McPherson on the above insurance, and presently intends to
                  attempt to do so. Tropical, however, represents that it does
                  intend to stop in the near future any type of administrative
                  work, including the forwarding of any premium notices in
                  connection with the insurance. McPherson shall be totally
                  responsible for the payment of insurance premiums for so long
                  as he chooses to maintain any of the above insurance. Tropical
                  represents that, should McPherson fail to pay any premium due
                  or payable, whether now due and payable or due and payable in
                  the

                                       2

<PAGE>

                  future, or should some other reason or circumstance exist or
                  occur now or in the future, any of the insurance may expire or
                  terminate at any time. Notwithstanding the above, and
                  irrespective of any intentions or hopes of Tropical, Tropical
                  is hereby discharged and released from any responsibility or
                  duty of any nature whatsoever with respect to the above
                  insurance, and is hereby discharged and released from any type
                  of conduct, act, omission or circumstance related to or
                  arising from the above insurance, whether related to or
                  arising from contract, tort, fraud, negligence, statute,
                  regulation, duty, law, equity or otherwise.

                  Withholding on this compensation equals Twenty Thousand Eight
                  Hundred Forty Seven Dollars and Ninety Four Cents
                  ($20,847.94). McPherson acknowledges receipt of the sum of
                  Fifty Seven Thousand Nine Hundred Seventy Two Dollars and
                  Twenty Six Cents ($57,972.26), which is the compensation less
                  the withholding sum.

           B.     Tropical shall not be obligated to secure or provide
                  disability insurance for McPherson or his family under any
                  group disability policy.

        4. A.     The Parties mutually and generally release each other under
                  the following terms.

           B.     Unless specifically and expressly stated otherwise in this
                  Agreement, the term "Claims" as used in this Agreement
                  includes any and all rights to compensation, severance or
                  termination compensations, accrued obligations or benefits,
                  business reason termination payments, target annual cash
                  bonuses, welfare plan benefits, other benefits, actions,
                  causes of action, defenses, lawsuits, arbitrations, injuries,
                  losses, payments, attorneys' fees, benefits, rights, damages,
                  costs, loss of service, loss of opportunities, loss of
                  profits, liens, expenses, compensation, suits, debts, dues,
                  sums of money, accounts, reckonings, bonds, stock claims,
                  stock option claims, benefits claims, bills, securities,
                  specialties, covenants, contracts, controversies, agreements,
                  promises, duties and obligations, variances, judgments,
                  extents, executions, claims, and demands, of any type
                  whatsoever, including any claim for indemnity or for
                  contribution, or any claim in subrogation or other similar
                  third party type of claim, in law or equity, whether known or
                  unknown, suspected or unsuspected, actual or potential,
                  asserted or unasserted, warranted or unwarranted, fixed or
                  contingent, liquidated or unliquidated, which has matured and
                  which a Party has as of the effective date of this Agreement,
                  or had or ever had prior to the effective date of this
                  Agreement.

           C.     The term "Claims" shall also include, but is not limited to,
                  any cause of action or any matter whatsoever relating to,
                  arising from, or in any way pertaining to the Litigation, or
                  relating to, arising from, or in any way pertaining to any
                  matter which was alleged in, or which could have been alleged
                  in, the Litigation.

                                       3

<PAGE>

            D.    The term "Claims" shall also include, but is not limited to,
                  any cause of action, charges, claims, actions, causes of
                  action or liabilities of any kind or nature, whether known or
                  unknown, related to or arising out of employment and/or
                  association of McPherson or with Tropical that they have ever
                  had or now have, or that any person or entity claiming through
                  them may have or claim to have, whether based on tort,
                  contract (express or implied) or any federal, state or local
                  law, statute or regulation, including, but not limited to any
                  claim under the Employee Retirement Income Security Act, 29
                  U.S.C. Section 1001 et seq.; the Family and Medical Leave Act,
                  29 U.S.C. Section 2611 et seq.; Consolidated Omnibus Budget
                  Reconciliation Act of 1986, "COBRA," 29 U.S. C. Section 1161
                  et seq.; Title VII of the Civil Rights Act of 1964, 42.
                  U.S.C. Section 2000 et seq., as amended; the Americans With
                  Disabilities Act (ADA), 42 U.S.C. Section 12101 et seq.; the
                  Florida's Whistleblower Statute, Fla. Stat. Ann. Section
                  448.101 et seq.; the Fair Labor Standards Act; the Florida
                  Civil Rights Act, Fla. Stat. Ann. Section 760.10 et seq. or
                  any similar state or local laws or ordinances prohibiting
                  discrimination, harassment or retaliation; any other claims
                  for personal injury, emotional distress, negligence, breach of
                  fiduciary duty, fraud, worker's compensation, invasion of
                  privacy, defamation, compensatory damages, punitive damages,
                  attorney's fees or costs; and any claims to incentive payments
                  or bonuses.

            E.    Notwithstanding the above, the term "Claims" does not include,
                  and specifically excludes, any obligation of Tropical to
                  indemnify McPherson under By-Laws of Tropical, and any
                  obligation under this Agreement.

            F.    The releases set forth in this Agreement shall become
                  effective as of the Effective Date specified above, upon the
                  execution of this Agreement by all Parties.

            G.    McPherson and Tropical voluntarily and knowingly release and
                  discharge from any Claims, jointly and severally, each other
                  and each other's current, former and future agents, attorneys,
                  heirs, representatives, executors, employees, officers,
                  directors, partners, trustees, shareholders, subsidiaries,
                  successors, assigns, affiliates, beneficiaries, insurers,
                  sureties, indemnitors, guarantors, benefit or compensation
                  plans, and their respective current, former and future agents,
                  attorneys, heirs, representatives, executors, employees,
                  officers, directors, partners, trustees, shareholders,
                  subsidiaries, successors, assigns, affiliates, beneficiaries,
                  insurers, sureties, indemnitors, guarantors, and benefit or
                  compensation plans.

            H.    McPherson and Tropical voluntarily and knowingly terminate any
                  employment agreements between them including, but not limited
                  to, the following document bearing signatures of McPherson and
                  Tropical: (i) a document, dated April 15, 2002, entitled
                  "Employment Agreement".

            I.    McPherson represents that he has not filed any complaint,
                  claim or charge against Tropical with the Equal Employment
                  Opportunity Commission, Florida

                                       4
<PAGE>

                  Commission on Human Relations, the Federal or Florida
                  Department of Labor, or with any other local, state or federal
                  agency or court. McPherson agrees that, if any such agency or
                  court assumes the prosecution or jurisdiction of any complaint
                  or charge against Tropical, McPherson will immediately dismiss
                  the complaint or charge and/or will immediately request such
                  agency or court to dismiss and withdraw from the matter. In
                  the event McPherson fails or refuses to undertake these
                  obligations, McPherson agrees that this Agreement shall
                  operate to effect McPherson' dismissal or withdrawal of such
                  complaint, charge or claim and that McPherson will forward to
                  Tropical any monies McPherson receives from such complaint,
                  charge or claim. Tropical acknowledges that McPherson has
                  filed for unemployment compensation.

            J.    The Parties represent and warrant that any Claim owned or held
                  by them at any time has not been assigned and has not been
                  transferred to any other person or entity.

            K.    The release of this Agreement evidences settlement of claims
                  which are disputed both as to liability and as to amount, and
                  the consideration recited above shall not be construed as an
                  admission of liability, as the same is now and has been
                  expressly denied.

            L.    Tropical shall remain obligated to indemnify McPherson for any
                  Excise Tax "grossed up" and any related taxes, interest,
                  penalties and costs, including attorneys fees, imposed upon
                  McPherson under Section 4999 of the Internal Revenue Code or
                  related sections as a result of any payment made to McPherson
                  under this Agreement.

        5.        All vested or non-vested options of McPherson to purchase
                  stock, or to purchase any type of equity, debt, security or
                  other type of right or obligation, in or issued by Tropical,
                  are cancelled as of the Effective Date. McPherson represents
                  he has exercised no such options on or after Wednesday,
                  October 8, 2003.

        6.        For three (3) years after the Termination Date, McPherson
                  shall not solicit for hire any individual who was an employee
                  of Tropical on the Effective Date.

        7.        McPherson shall cooperate with Tropical and its counsel in
                  respect to any lawsuits, proceedings, investigations or other
                  types of actions involving Tropical, and shall provide and
                  deliver to Tropical and its counsel at reasonable times and
                  places, upon reasonable request of Tropical, truthful
                  information, and originals or duplicates of documents or
                  information whether electronic or otherwise, within the
                  custody, possession or control of McPherson in respect to any
                  such lawsuits, proceedings, investigations, or other types of
                  actions, or in relation to Tropical.

                                        5
<PAGE>

        8.        The Litigation shall be immediately dismissed with prejudice
                  by stipulation of the parties in the Litigation.. A copy of
                  the Stipulation for Dismissal With Prejudice is attached as
                  Exhibit A.

        9.        Tropical is bound by an obligation of indemnity and of
                  advancement of expenses to the fullest extent permitted by the
                  law of the State of Florida, as the same may be in effect from
                  time to time, and as provided in its Bylaws, and as defined
                  and set forth in correspondence of Tropical to McPherson dated
                  October 28, 2003.

        10.       Tropical and McPherson agree that each has reviewed this
                  Agreement and any rule of construction to the effect that
                  ambiguities are to be resolved against the drafter shall not
                  apply to the interpretation of this Agreement.

        11.       Tropical and McPherson agree that they have each relied
                  exclusively upon independent counsel in connection with this
                  Agreement, which has been completely read and is readily
                  understood and voluntarily accepted.

        12.       In the event of breach of this Agreement by either Party, the
                  other Party shall be entitled at its option to seek the remedy
                  of specific performance exclusively before a state or federal
                  court of competent jurisdiction in Hillsborough County,
                  Florida.

        13.       This Agreement may be executed by any Party by execution of a
                  counterpart. A signature of a Party shall be effective by that
                  Party faxing or delivering a copy of the signed counterpart to
                  the other Party.

        14.       Except as otherwise expressly provided herein, and except for
                  the obligation of indemnity or advancement of expenses
                  referenced above, this Agreement contains the entire agreement
                  between the Parties and is only subject to modification by
                  written instrument signed by the Parties. No representation or
                  statement not contained herein, shall be binding on the
                  Parties.

        15.       The Parties agree that no inducements, statements or
                  representations have been made that are not set forth in this
                  Agreement and that the Parties did not rely upon any
                  inducements, statements or representations not set forth
                  herein.

        16.       This Agreement was negotiated and delivered within the state
                  of Florida, and shall be governed by Florida law.

        17.       Tropical represents and warrants to McPherson that the officer
                  executing this Agreement has the requisite corporate authority
                  to do so after receiving all necessary and appropriate
                  approvals.

        18.       McPherson is aware that this Agreement has significant legal
                  meaning, and he

                                        6
<PAGE>

                  enters into this Agreement freely and voluntarily.

         IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement as of the day and year indicated above.

     Signed this 31st day of October, 2003.

MCPHERSON                           TROPICAL

/s/ Nelson L. McPherson             /s/ Michael Kagan
---------------------------         -----------------------------
Nelson L. McPherson                 Michael Kagan
                                    Chief Executive Officer
                                    Tropical Sportswear Int'l
                                    Corporation

                                        7
<PAGE>

                                    EXHIBIT A

             IN THE CIRCUIT COURT OF THE THIRTEENTH JUDICIAL CIRCUIT
                     IN AND FOR HILLSBOROUGH COUNTY, FLORIDA
                                 CIVIL DIVISION

TROPICAL SPORTSWEAR
INT'L CORPORATION,

                                Plaintiff,

vs.
                                                               Case No: 03-7619
                                                               Division: I

CHRISTOPHER B. MUNDAY,
GREGORY L. WILLIAMS and
NELSON L. MCPHERSON, JR.,

                                Defendants.

________________________________________________/

                     STIPULATION OF DISMISSAL WITH PREJUDICE

         Plaintiff and Defendants, by undersigned counsel and pursuant to Fla.
R. Civ. P. 1.420(A)(1), stipulate to dismissal with prejudice of this action,
with each such party to bear that Party's own fees and costs.

                    Dated as of _____________________, 2003.

____________________________________
                                                _______________________________
Leslie Joughin, III, FBN: 339385                Lawrence P. Ingram, FBN: 855510
Charles F. Ketchey, FBN: 0181735          PHELPS DUNBAR LLP
Joseph W. N. Rugg, FBN: 335096            100 S. Ashley Drive
S. Gordon Hill, FBN: 094374                     Suite 1900
AKERMAN SENTERFITT                              Tampa, Florida  33602-5311
100 S. Ashley Dr., Suite 1500                   Tel:  813-472-7550
Post Office Box 3273 (Zip 33601)          Fax:  813-472-7570
Tampa, Florida  33602                           Attorney for Defendant,
Tel: 813-223-7333/Fax: 813-223-2837       Nelson L. McPherson, Jr.
Attorneys for Plaintiff

                                        8
<PAGE>

David P. Rankin, FBN:  ________           Michael C. Addison, FBN: 0145579
14502 N. Dale Mabry                              ADDISON & DELANO, P.A
Suite 300                                             Post Office Box 2175
Tampa, FL  33618                                 Tampa, FL  33601-2175
Tel: 813-968-6633                                Tel: 813-223-2000
Fax: 813-963-2175                                Fax: 813-228-6000
Attorney for Defendant,                     Attorney for Defendant,
 Christopher B. Munday                      Gregory L. Williams

                             CERTIFICATE OF SERVICE

         I HEREBY CERTIFY that a true and correct copy of the foregoing has been
furnished via U.S. Mail to Lawrence P. Ingram, Esquire, Phelps Dunbar LLP, 100
S. Ashley Dr., Suite 1900, Tampa, Florida 33602-5311; Jeffrey A. Aman, Esquire,
Aman Law Firm, 14502 N. Dale Mabry, Suite 300, Tampa, Florida 33618; Michael C.
Addison, Esquire, Addison & Delano, P.A., Post Office Box 2175, Tampa, Florida
33601-2175, and Leslie Joughin, III, Charles F. Ketchey, Joseph W. N. Rugg, and
S. Gordon Hill, Akerman Senterfitt, Post Office Box 3273, Tampa, Florida
33601-3273 this ____ day of _______, 2003.

                        ____________________________
                        Attorney

                                       9

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