Document:

SECURED PROMISSORY NOTE

$196,875.00                                                   New York, New York
                                                                   June 26, 2000

          FOR VALUE RECEIVED, the undersigned, DAVID A. LEVIN (the
"Obligor"), hereby unconditionally promises to pay to the order of DESIGNS,
INC., a Delaware corporation (together with any such subsequent Holder of this
Note, the "Holder"), the principal sum of one hundred ninety-six thousand eight
hundred and seventy-five dollars ($196,875.00), together with simple,
uncompounded interest thereon from the date hereof on the principal amount from
time to time outstanding at the rate of six and fifty-three one-hundredths
percent (6.53%) per annum until the Maturity Date (as hereinafter defined) and
thereafter at the rate of six and fifty-three one-hundredths percent (6.53%) per
annum. Interest shall be calculated from (and including) the date hereof to (but
not including) the date of payment. This Note and all accrued but unpaid
interest thereon shall be due and payable on June 26, 2003 (the "Maturity Date")
or such earlier date as required herein.

          Pursuant to the Security and Pledge Agreement (as amended,
supplemented, amended and restated or otherwise modified from time to time, the
"Pledge Agreement") of even date herewith between the Obligor and the Holder,
the Obligor has pledged 150,000 shares (the "Shares") of common stock of the
Holder (including any other security into which such shares shall be converted
or for which such shares shall be exchanged in any recapitalization,
reorganization, merger, consolidation, share exchange or similar business
combination transaction, the "Collateral") as collateral to the Holder to secure
his prompt and full performance of his obligations hereunder and under the
Pledge Agreement. Any unpaid amounts due and payable under the Pledge Agreement
shall constitute principal amounts due under this Note. To the extent that the
Collateral (or the proceeds thereof) maybe insufficient to satisfy all of the
Obligor's obligations under this Note and the Pledge Agreement, the Obligor
shall remain personally liable for any such deficiency.

          The Obligor and the Holder intend that the obligations
evidenced by this Note conform strictly to the applicable usury laws from time
to time in force. If under any circumstances whatsoever fulfillment of any
provision hereof, at the time performance of such provision shall be due, shall
involve exceeding the highest lawful rate of interest prescribed by law, then,
ipso facto, the interest due hereunder shall be reduced to such rate; and if
under any circumstances the Holder ever shall receive from or on behalf of the
Obligor an amount deemed interest, by applicable law, which would exceed the
highest lawful rate, such amount that would be excessive interest under
applicable usury laws shall be applied to the reduction of the principal owing
hereunder or of any other amounts owing hereunder and not to the payment of
interest, or if such excessive interest exceeds the unpaid balance of principal,
the excess shall be deemed to have been a payment made by mistake and shall be
refunded to the Obligor or to any other person making such payment on the
Obligor's behalf.

          1. PAYMENT PROVISIONS. On the Maturity Date, the entire
outstanding principal amount of this Note, together with all accrued but unpaid
interest hereon, shall automatically become immediately due and payable without
protest, presentment, demand or notice (except the notices referred to herein),
all of which are expressly waived by the Obligor. All payments under this Note
shall be applied first to costs of collection, second to accrued but unpaid
interest and last to the payment of principal.

          Principal, interest and all other amounts due hereunder shall
be payable in lawful money of the United States of America in immediately
available funds or by check. The principal and interest on this Note shall be
paid without setoff or counterclaim and free and clear of and exempt from, and
without deduction for or on account of, any present or future taxes, imposts,
duties, deduction, withholdings or other charges of whatsoever nature imposed,
levied, collected, withheld or assessed by any government or any political
subdivision or taxing authority thereof. Whenever any payment hereunder shall be
due on a day other than a Business Day (as defined below), such payment shall be
made on the next succeeding Business Day. For purposes of this Note, a "Business
Day" shall mean any day on which commercial banks are not authorized or required
to be closed in Boston, Massachusetts.

          2. PREPAYMENT. The Obligor may, at any time and from time to
time, prepay the then unpaid principal balance of this Note in whole or in part
without penalty or premium, but with interest calculated as aforesaid to the
date of such prepayment.

          3. EVENTS OF DEFAULT. If any events specified in this Section
3 shall occur and continue uncured for a period of thirty (30) days following
notice from the Holder that such event has occurred (herein individually
referred to as an "Event of Default"), the Holder may declare the entire
outstanding principal amount of this Note, together with all accrued but unpaid
interest hereon and all other amounts payable hereunder and under the Pledge
Agreement, immediately due and payable, by notice in writing to Obligor:

             3.1. Default in the payment of the principal of and unpaid  accrued
interest on the Note when due and payable; or

             3.2. Any material breach by the Obligor of any of his covenants
under the Pledge Agreement; or

             3.3. (A) the Obligor shall commence any case, proceeding or other
action (x) under any existing or future law of any jurisdiction, domestic or
foreign, relating to bankruptcy, insolvency, reorganization or relief of
debtors, seeking to have an order for relief entered with respect to the
Obligor, or seeking to adjudicate him a bankrupt or insolvent, or seeking
arrangement, adjustment, liquidation, or other relief with respect to the
Obligor or his debts or (y) seeking appointment of a receiver, trustee,
custodian or other similar official for the Obligor or for all or any
substantial part of his assets, or the Obligor shall make a general assignment
for the benefit of his creditors; or (B) there shall be commenced against the
Obligor any case, proceeding or other action of a nature referred to in clause
(A) above which (x) results in the entry of an order for such relief or
appointment or (y) remains undismissed, undischarged or unbonded for a period of
sixty (60) days; or (C) there shall be commenced against the Obligor any case,
proceeding or other action seeking issuance of a warrant of attachment,
execution, distraint or similar process against all or any substantial part of
his assets, which results in the entry of an order for any such relief which
shall not have been vacated, discharged, stayed or bonded pending appeal within
sixty (60) days from the entry thereof; or (D) the Obligor shall take any action
in furtherance of, or indicating his consent to, approval of, or acquiescence
in, any of the acts set forth in clause (A), (B), or (C) above; or (E) the
Obligor shall generally fail to pay or admits in writing his inability to pay
his debts as they become due.

          4. GOVERNING LAW AND ADJUDICATION; RELATED MATTERS. This Note shall be
governed by and construed in accordance with the internal laws of the
Commonwealth of Massachusetts applicable to contracts made and to be wholly
performed within such State, without reference to principles of conflicts of
laws. The Obligor hereby irrevocably consents that any suit, action or
proceeding against him or any of his assets or properties arising out of or in
any way connected with this Note or the Pledge Agreement may be instituted in
any Massachusetts, New York State or United States federal court located in the
City of Boston or the Borough of Manhattan in New York City, and by execution
and delivery of this Note, the Obligor hereby irrevocably submits to the
jurisdiction of the aforesaid courts in any such suit, action or proceeding. The
Obligor hereby irrevocably waives any objection which he may have at any time to
the laying of venue of any such suit, action or proceeding brought in any such
court, waives any claim that any such suit, action or proceeding has been
brought in an inconvenient forum and further waives the right to object with
respect to any such suit, action or proceeding that such court does not have any
jurisdiction over him. The Obligor irrevocably consents to the service of
process out of any of the above-mentioned courts in any such suit, action or
proceeding by the delivery of copies thereof in any manner prescribed in Section
5.4 hereof.

          5. MISCELLANEOUS.

             5.1. WAIVERS. The Obligor hereby waives diligence,  presentment,
demand,  protest and notice (except as herein noted) of any kind in the
enforcement of the Note.

             5.2. COSTS AND EXPENSES. The Obligor agrees to pay on demand all of
the Holder's costs and expenses, including, without limitation, reasonable
attorneys' fees, in connection with the collection of any sums due to the Holder
and the enforcement, protection or perfection of its rights or interests
hereunder or under the Pledge Agreement.

             5.3. ASSIGNMENTS. The Obligor may not assign or otherwise transfer
any of his rights or delegate any of his obligations under the Note or the
Pledge Agreement without the express prior written consent of the Holder. The
Holder may assign or otherwise transfer the Note and any or all of its rights,
interests or remedies hereunder, and may delegate any or all of its obligations
hereunder, to any person or entity, upon written notice to the Obligor.

             5.4. NOTICES. All notices and other communications given or made
pursuant to the Note shall be in writing and shall be deemed to have been duly
given or made if (i) sent by registered or certified mail, return receipt
requested, postage prepaid, (ii) hand delivered, or (iii) sent by prepaid
overnight carrier, with a record of receipt, to the parties at the following
addresses (or at such other addresses as shall be specified by the parties by
like notice):

                  (A) If to the Holder:

                      Designs, Inc.
                      66 B Street
                      Needham, Massachusetts  02494
                      Attn:  Secretary

                      with a copy (which shall not constitute notice) to:

                      Kramer Levin Naftalis & Frankel LLP
                      919 Third Avenue
                      New York, New York  10022
                      Attn:  Peter G. Smith, Esq.

                  (B) If to the Obligor:

                      David A. Levin
                      150 Monadnock Road
                      Chestnut Hill, MA 02467

Each notice or communication shall be deemed to have been given on the date
received.

                  IN WITNESS WHEREOF, the Obligor has duly executed and
delivered this Note as of the date and year first written above.

                                 /S/ DAVID A. LEVIN
                                 --------------------------------
                                 DAVID A. LEVIN

         The undersigned, Ann Levin, wife of David A. Levin, has duly executed
and delivered this Note as of the date and year first written above, as co-maker
of and additional Obligor under this Note, and shall be liable for all of the
obligations of the Obligor under this Note and the Pledge Agreement to the same
extent as through named as the Obligor herein, provided that the liability of
the undersigned Ann Levin in respect of the Obligor's obligations under this
Note and the Pledge Agreement shall be limited to the right, title and interest,
if any, of the undersigned in and to the Collateral (and the proceeds and
products thereof) and shall be without personal recourse or personal liability
for any deficiency if such Collateral (or the proceeds or products thereof)
shall be insufficient to satisfy all of such obligations.

                                 /S/ ANN LEVIN
                                 --------------------------------
                                 ANN LEVINPLEDGE AND SECURITY AGREEMENT

                  PLEDGE AND SECURITY AGREEMENT, dated as of June 26, 2000 (as
amended, supplemented, amended and restated or otherwise modified from time to
time, this "Agreement"), made by and from DAVID A. LEVIN ( the "Pledgor") to
DESIGNS, INC., a Delaware corporation (the "Secured Party"). Capitalized terms
used without definition herein shall have the meanings given to such terms in
the Note referred to below.

                  PRELIMINARY STATEMENTS:

                  (1) The Pledgor and the Secured Party have executed a Secured
Promissory Note, dated as of June 26, 2000 (as amended, supplemented, amended
and restated or otherwise modified from time to time, the "Note"), in favor of
the Secured Party, evidencing the loan made by the Secured Party to the Pledgor
(the "Loan").

                  (2) The Pledgor is the beneficial owner of 150,000 shares of
common stock of the Secured Party (such shares, including any other security
into which such shares shall be converted or for which such shares shall be
exchanged in any recapitalization, reorganization, merger, consolidation, share
exchange or similar business combination transaction, the "Pledged Shares").

                  (3) It is a condition to the making of the Loan by the Secured
Party under the Note that the Pledgor shall grant the assignment and security
interest and make the pledge and assignment contemplated by this Agreement.

                  (4) The Pledgor will obtain benefits from the incurrence of
the Loans under the Note and, accordingly, the Pledgor desires to execute this
Agreement to satisfy the conditions described in the preceding paragraph (3).

                  NOW, THEREFORE, in consideration of the premises and in order
to induce the Secured Party to make the Loans, the Pledgor hereby agrees with
the Secured Party as follows:

                  Section 1. GRANT AND PLEDGE OF SECURITY. The Pledgor hereby
assigns, conveys, mortgages, hypothecates, transfers and pledges to the Secured
Party and hereby grants to the Secured Party a first lien on, and a continuing
security interest in and to, the following, in each case, as to each type of
property described below, whether now owned or hereafter owned or acquired,
wherever located and whether now or hereafter existing (collectively, the
"Pledged Collateral"):

                           (a) all of the Pledgor's right, title and interest in
                  and to the Pledged Shares, the account and the certificates
                  representing the Pledged Shares, and all dividends, cash,
                  securities, interest, warrants, rights, options, instruments
                  and other property and proceeds from time to time received,
                  receivable or otherwise distributed in respect of or in
                  exchange for any or all of the Pledged Shares or other Pledged
                  Collateral (including additions to the Pledged Collateral
                  pursuant to Section 11(b)); and

                           (b) to the extent not covered by clause (a) above,
                  all of the Pledgor's right, title and interest in and to all
                  Proceeds and products of any and all of the foregoing Pledged
                  Collateral.

                           As used herein, the term "proceeds" means all
                  "proceeds" as such term is defined in Section 9-306(1) of the
                  Uniform Commercial Code in effect in the Commonwealth of
                  Massachusetts on the date hereof (the "UCC") and, in any
                  event, shall include, without limitation, all dividends,
                  interest or other income from the Pledged Collateral,
                  collections thereon or distributions with respect thereto.

                  Section 2. SECURITY FOR OBLIGATIONS. This Agreement secures
the full and prompt payment when due (whether at the stated maturity, by
acceleration or otherwise) of all obligations and liabilities (including,
without limitation, the principal of and interest on the Note) of the Pledgor to
the Secured Party, whether now existing or hereafter incurred under, arising out
of or in connection with the Note and this Agreement and the due performance and
compliance by the Pledgor with all of the terms, conditions and agreements
contained in the Note and this Agreement (all such principal, interest,
obligations and liabilities being herein collectively called the "Secured
Obligations").

                  Section 3. THE PLEDGOR REMAINS LIABLE. Anything herein to the
contrary notwithstanding, (a) the Pledgor shall remain liable under the
documents included in the Pledged Collateral to the extent set forth therein to
perform all of his duties and obligations thereunder to the same extent as if
this Agreement had not been executed, (b) the exercise by the Secured Party of
any of the rights hereunder shall not release the Pledgor from any of his duties
or obligations under the documents included in the Pledged Collateral and (c)
the Secured Party shall not have any obligation or liability under any of the
documents included in the Pledged Collateral by reason of this Agreement, nor
shall the Secured Party be obligated to perform any of the obligations or duties
of the Pledgor hereunder or to take any action to collect or enforce any claim
for payment assigned hereunder.

                  Section 4. DELIVERY OF PLEDGED COLLATERAL. All certificates or
instruments representing or evidencing the Pledged Collateral shall be delivered
to and held by or on behalf of the Secured Party pursuant hereto and shall be in
suitable form for transfer by delivery, or shall be accompanied by duly executed
instruments of transfer or assignment in blank, all in form and substance
satisfactory to the Secured Party. Upon the occurrence and during the
continuance of an Event of Default, the Secured Party shall have the right, at
any time in its discretion and without notice to the Pledgor, to transfer to or
to register in the name of the Secured Party or any of its nominees any or all
of the Pledged Collateral. In addition, the Secured Party shall have the right
at any time to exchange certificates or instruments representing or evidencing
the Pledged Collateral for certificates or instruments of smaller or larger
denominations.

                  Section 5. REPRESENTATIONS, WARRANTIES AND COVENANTS. The
Pledgor represents, warrants, agrees and covenants as to himself and the Pledged
Collateral, which representations, warranties, agreements and covenants shall
survive execution and delivery of this Agreement, as follows:

                  (a) The Pledgor is the legal and beneficial owner of the
         Pledged Collateral free and clear of any pledge, lien, mortgage,
         hypothetication, security interest, charge, option or other encumbrance
         whatsoever or other right, title or interest of any person or entity,
         except for the security interest created under this Agreement, and the
         Pledgor shall defend the Pledged Collateral against all claims and
         demands of all persons or entities at any time claiming the same or any
         interest therein adverse to the Secured Party. No effective financing
         statement or other instrument similar in effect covering or purporting
         to cover all or any part of the Pledged Collateral is on file in any
         recording office, except such as may have been filed in favor of the
         Secured Party relating to this Agreement.

                  (b) The Pledgor is the legal and beneficial owner of, and has
         good and marketable title to, the Pledged Shares, subject to no pledge,
         lien, mortgage, hypothetication, security interest, charge, option or
         other encumbrance whatsoever, except the liens and security interests
         created by this Agreement. The Pledgor has the legal right to pledge
         the Pledged Shares pledged by him pursuant to this Agreement.

                  (c) All filings and other actions necessary or desirable to
         perfect and protect the security interest in the Pledged Collateral
         taken as a whole created under this Agreement have been duly made or
         taken, and this Agreement, the pledge of the Pledged Collateral
         pursuant hereto, together with such filings and other actions, create a
         valid and perfected first priority security interest in the Pledged
         Collateral taken as a whole, securing the payment of the Secured
         Obligations.

                  (d) No consent of any other person or entity and no
         authorization, approval or other action by, and no notice to or filing
         with, any governmental authority or regulatory body or other third
         party is required (i) for the grant by the Pledgor of the assignment
         and security interest granted hereunder, for the pledge by the Pledgor
         of the Pledged Collateral pursuant hereto or for the execution,
         delivery or performance of this Agreement by the Pledgor, (ii) for the
         perfection or maintenance of the pledge, assignment and security
         interest created hereunder (including the first priority nature of such
         pledge, assignment or security interest), or (iii) for the exercise by
         the Secured Party of its voting or other rights provided for in this
         Agreement or the remedies in respect of the Pledged Collateral pursuant
         to this Agreement.

                  Section 6. FURTHER ASSURANCES. The Pledgor agrees that from
time to time he shall promptly execute and deliver all further instruments and
documents, and take all further action, that may be necessary or desirable, or
that the Secured Party may reasonably request, in order to perfect and protect
any pledge, assignment or security interest granted or purported to be granted
hereby or to enable the Secured Party to exercise and enforce its rights and
remedies hereunder with respect to any Pledged Collateral.

                  Section 7.  VOTING RIGHTS; DIVIDENDS; ETC.  (a) So long as no
Event  of  Default  shall  have occurred and be continuing:

                  (i) The Pledgor shall be entitled to exercise any and all
         voting and other consensual rights pertaining to the Pledged Collateral
         or any part thereof for any purpose not inconsistent with the terms of
         this Agreement or the Note; provided, however, that the Pledgor shall
         not exercise or refrain from exercising any such right if such action
         (a) would reasonably be expected to have a material adverse effect on
         the value of the Pledged Collateral or any part thereof or (b) would
         violate or be inconsistent with any of the terms of this Agreement or
         the Note;

                  (ii) The Pledgor shall be entitled to receive and retain any
         and all dividends and interest paid in respect of the Pledged
         Collateral; provided, however, that any and all

                           (A) dividends and interest paid or payable other than
                  in cash in respect of, and instruments and other property
                  received, receivable or otherwise distributed in respect of,
                  or in exchange for, such Pledged Collateral, and

                           (B) dividends and other distributions paid or payable
                  in cash in respect of such Pledged Collateral in connection
                  with a partial or total liquidation or dissolution

         shall be, and shall be forthwith delivered to the Secured Party to hold
         as, Pledged Collateral and shall, if received by the Pledgor, be
         received in trust for the benefit of the Secured Party, be segregated
         from the other property or funds of the Pledgor and be forthwith
         delivered to the Secured Party as Pledged Collateral in the same form
         as so received (with any necessary endorsement).

                  (b) Upon the occurrence and during the continuance of an
         Event of Default:

                  (i) All rights of the Pledgor (x) to exercise or refrain from
         exercising the voting and other consensual rights that he would
         otherwise be entitled to exercise pursuant to Section 7(a)(i) shall,
         upon notice to the Pledgor by the Secured Party, cease and (y) to
         receive the dividends and interest payments that he would otherwise be
         authorized to receive and retain pursuant to Section 7(a)(ii) shall
         automatically cease, and all such rights shall thereupon become vested
         in the Secured Party, which shall thereupon have the sole right to
         exercise or refrain from exercising such voting and other consensual
         rights and to receive and hold as Pledged Collateral such dividends and
         interest payments.

                  (ii) All dividends and interest payments that are received by
         the Pledgor contrary to the provisions of paragraph (i) of this Section
         7(b) shall be received in trust for the benefit of the Secured Party,
         shall be segregated from other funds of the Pledgor and shall be
         forthwith paid over to the Secured Party as Pledged Collateral in the
         same form as so received (with any necessary endorsement).

                  Section 8. TRANSFERS AND OTHER LIENS. The Pledgor agrees not
(i) to sell, assign (by operation of law or otherwise) or otherwise dispose of,
or grant any option with respect to, any of the Pledged Collateral, or (ii) to
create or suffer to exist any lien or other encumbrance upon or with respect to
any of the Pledged Collateral, except for the pledge, assignment and security
interest created under this Agreement.

                  Section 9. SECURED PARTY APPOINTED ATTORNEY-IN-FACT. The
Pledgor hereby irrevocably appoints the Secured Party, effective upon the
occurrence and during the continuation of any Event of Default, as the Pledgor's
attorney-in-fact, with full authority in the place and stead of the Pledgor and
in the name of the Pledgor or otherwise, from time to time in the Secured
Party's discretion and upon notice to the Pledgor, to take any action and to
execute any instrument that the Secured Party may deem necessary or advisable to
accomplish the purposes of this Agreement, including, without limitation:

                  (a) to ask for, demand, collect, sue for, recover, compromise,
         receive and give acquittance and receipts for moneys due and to become
         due under or in respect of any of the Pledged Collateral,

                  (b) to receive, endorse and collect any drafts or other
         instruments, documents and chattel paper, in connection with clause (a)
         above, and

                  (c) to file any claims or take any action or institute any
         proceedings that the Secured Party may deem necessary or desirable for
         the collection of any of the Pledged Collateral or otherwise to enforce
         the rights of the Secured Party with respect to any of the Pledged
         Collateral.

                  Section 10. SECURED PARTY MAY PERFORM. If the Pledgor fails to
perform any agreement contained herein, the Secured Party may itself perform, or
cause performance of, such agreement, and the expenses of the Secured Party
incurred in connection therewith shall be payable by the Pledgor under Section
12(b).

                  Section 11.  REMEDIES.  If any Event of Default shall have
occurred and be continuing:

                  (a) The Secured Party may exercise in respect of the Pledged
         Collateral, in addition to other rights and remedies provided for
         herein or otherwise available to it, all the rights and remedies of a
         secured party upon default under the UCC (whether or not the UCC
         applies to the affected Pledged Collateral) and also may (i) require
         the Pledgor to, and the Pledgor hereby agrees that he will at his
         expense and upon request of the Secured Party forthwith, assemble all
         or part of the Pledged Collateral as directed by the Secured Party and
         make it available to the Secured Party at a place and time to be
         designated by the Secured Party and (ii) without notice except as
         specified below, sell the Pledged Collateral or any part thereof at
         public or private sale, for cash, on credit or for future delivery, and
         upon such other terms as the Secured Party may deem commercially
         reasonable. The Pledgor agrees that, to the extent notice of sale shall
         be required by law, at least ten (10) days' notice to the Pledgor of
         the time and place of any public sale or the time after which any
         private sale is to be made shall constitute reasonable notification.
         The Secured Party shall not be obligated to make any sale of Pledged
         Collateral regardless of notice of sale having been given. The Secured
         Party may adjourn any public or private sale from time to time by
         announcement at the time and place fixed therefor, and such sale may,
         without further notice, be made at the time and place to which it was
         so adjourned.

                  (b) (i) All cash proceeds received by the Secured Party in
                  respect of any sale of, collection from, or other realization
                  upon all or any part of the Pledged Collateral may, in the
                  discretion of the Secured Party, be held by the Secured Party
                  as collateral for, and/or then or at any time thereafter
                  applied (after payment of any amounts payable to the Secured
                  Party pursuant to Section 12) shall be applied to the payment
                  in full of the Secured Obligations. To the extent proceeds
                  remain after the application pursuant to the preceding
                  sentence, and following the termination of this Agreement
                  pursuant to Section 15, to the Pledgor or to whomever may be
                  lawfully entitled to receive such surplus.

                           (ii) It is understood that the Pledgor shall remain
                  liable to the extent of any deficiency between the amount of
                  the proceeds of the Pledged Collateral and the aggregate
                  amount of the Secured Obligations.

                  (c) The Secured Party may exercise any and all rights and
         remedies of the Pledgor in respect of the Pledged Collateral.

                  Section 12. INDEMNITY AND EXPENSES. (a) The Pledgor agrees to
indemnify the Secured Party from and against any and all claims, losses and
liabilities growing out of or resulting from this Agreement (including, without
limitation, enforcement of this Agreement).

                  (b) The Pledgor agrees to pay to the Secured Party, upon
demand, the amount of any and all reasonable costs and expenses, including,
without limitation, the reasonable fees and expenses of counsel, that the
Secured Party may incur in connection with (i) the administration of this
Agreement, (ii) the custody, preservation, use or operation of, or the sale of,
collection from or other realization upon, any of the Pledged Collateral, (iii)
the exercise or enforcement of any of the rights of the Secured Party hereunder
or (iv) the failure by the Pledgor to perform or observe any of the provisions
hereof.

                  Section 13. SECURITY INTEREST ABSOLUTE. All rights of the
Secured Party and the pledge, assignment and security interest hereunder, and
all obligations of the Pledgor hereunder, shall be absolute and unconditional,
irrespective of (i) any lack of validity or enforceability of the Note; (ii) any
change in the time, manner or place of payment of, or in any other term of, all
or any of the Secured Obligations, or any other amendment or waiver of or any
consent to any departure from the Note; (iii) any taking, exchange, release or
nonperfection of any other collateral, or any taking, release or amendment or
waiver of or consent to departure from any guaranty, for all or any of the
Secured Obligations; or (iv) any other circumstance that might otherwise
constitute a defense available to, or a discharge of, the Pledgor or a
third-party grantor of a security interest.

                  Section 14. CONTINUING SECURITY INTEREST. This Agreement shall
create a continuing security interest in the Pledged Collateral and shall (a)
remain in full force and effect until the payment in full of the Secured
Obligations, (b) be binding upon the Pledgor, his successors and assigns and (c)
inure to the benefit of the Secured Party and its respective successors,
transferees and assigns.

                  Section 15. TERMINATION. Upon the irrevocable and indefeasible
payment in full of the Secured Obligations, the pledge, assignment and security
interest granted hereby shall terminate and all rights to the Pledged Collateral
shall revert to the Pledgor. Upon any such termination, the Secured Party will,
at the Pledgor's expense, execute and deliver to the Pledgor such documents as
the Pledgor shall reasonably request to evidence such termination.

                  Section 16. MISCELLANEOUS. This Agreement may be modified,
amended or terminated only by a writing signed by both parties hereto. This
Agreement shall be enforced, governed by and construed in accordance with the
laws of the Commonwealth of Massachusetts. The Pledgor agrees that any suit for
the enforcement of this Agreement may be brought in any Massachusetts, New York
State or United States federal court located in the City of Boston or the
Borough of Manhattan in New York City and consents to the non-exclusive
jurisdiction of such court and to service of process in any such suit being made
upon the Pledgor by mail at the address specified below. The Pledgor hereby
waives any objection he may now have or hereafter have to the venue of any such
suit or any such court or that such suit was brought in an inconvenient court.
THE PLEDGOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF ANY DISPUTE
BETWEEN THE PARTIES WITH RESPECT TO THIS AGREEMENT.

                  IN WITNESS WHEREOF, the Pledgor has duly executed and
delivered this Pledge and Security Agreement as of the date and year first
written above.

                                 /S/ DAVID A. LEVIN
                                 --------------------------------
                                 DAVID A. LEVIN

                                 Address:
                                   150 Monadnock Road
                                 ---------------------------------
                                   Chestnut Hill, MA 02467
                                 --------------------------------

Agreed and consented to as of
the date first above written:

DESIGNS, INC.

By:
Name:
Title:

         The undersigned, Ann Levin, wife of David A. Levin and co-maker of and
additional Obligor under the Note, has duly executed and delivered this Pledge
and Security Agreement as of the date and year first written above as additional
Pledgor under this Pledge and Security Agreement, to the extent of all right,
title and interest, if any, of the undersigned in and to the Pledged Shares or
other Pledged Collateral and all Proceeds and products thereof, and, without
limitation, the undersigned agrees to be bound by all of the agreements and
covenants of the Pledgor set forth herein with respect to, and to the extent of,
such right, title and interest.

                                 /S/ ANN LEVIN
                                 ---------------------------------
                                 ANN LEVIN

                                 Address:
                                   150 Monadnock Road
                                 ---------------------------------
                                   Chestnut Hill, MA 02467
                                 ---------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}]]