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Exhibit 10.6    
    

 
 

INTERCREDITOR AGREEMENT    
    

        INTERCREDITOR AGREEMENT (this "Intercreditor Agreement"), dated as of December 19,
2001, among FLEET RETAIL FINANCE INC., a Delaware corporation with offices at 40 Broad Street, Boston, Massachusetts 02109, in its capacity as
agent (the "Agent") for the Revolving Credit Lenders (as hereinafter defined), HOLIDAY COMPANIES, a
Minnesota corporation having a principal place of business at 4567 West 80th Street, Bloomington, Minnesota 55437 (the "Subordinating
Creditor"), and GANDER MOUNTAIN COMPANY, a Delaware corporation having its principal executive offices at 4567 West
80th Street, Bloomington, Minnesota 55437 (the "Borrower"). 

        WHEREAS, pursuant to a Loan and Security Agreement, dated as of December 19, 2001 (as amended and in effect from time to time,
including any replacement agreement therefor, the "Credit Agreement"), among the lending institutions party thereto (the
"Revolving Credit Lenders"), the Agent, and the Borrower, the Revolving Credit Lenders have agreed, upon the terms and subject to the conditions
contained therein, to make loans and otherwise to extend credit to the Borrower; and 

        WHEREAS, the Subordinating Creditor has extended credit to the Borrower pursuant to a $50,000,000 Subordinated Promissory Note dated as of
December 19, 2001 (as amended with the consent of the Agent as provided herein and in effect from time to time, the "Initial Subordinated Note"),
executed by the Borrower in favor of the Subordinating Creditor; and 

        WHEREAS, the Subordinating Creditor has also extended credit to the Borrower pursuant to a $5,000,000 Subordinated Promissory Note dated
as of December 19, 2001 (as amended with the consent of the Agent as provided herein and in effect from time to time, the "Additional Subordinated
Note"), executed by the Borrower in favor of the Subordinating Creditor; and 

        WHEREAS, the Subordinating Creditor may from time to time after the date of this Intercreditor Agreement extend credit to the Borrower
pursuant to one or more Subordinated Promissory Notes (as amended with the consent of the Agent as provided herein and in effect from time to time, the "Supplemental
Subordinated Notes", and together with the Initial Subordinated Note and the Additional Subordinated Notes, the "Subordinated
Notes"); and 

        WHEREAS, it is a condition precedent to the Revolving Credit Lenders' willingness to make loans and otherwise to extend credit to the
Borrower pursuant to the Credit Agreement that the Borrower and the Subordinating Creditor enter into this Intercreditor Agreement with the Agent; and 

        WHEREAS, in order to induce the Revolving Credit Lenders to make loans and otherwise extend credit to the Borrower pursuant to the Credit
Agreement, the Borrower and the Subordinating Creditor have agreed to enter into this Intercreditor Agreement with the Agent; 

        NOW, THEREFORE, in consideration of the foregoing, the mutual agreements herein contained and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

 

        1.    Definitions.    Terms not otherwise defined herein have the same respective meanings given to them in the Credit
Agreement. In addition, the following terms shall have the following meanings: 

        Senior Debt.    All principal, interest, fees, costs, enforcement expenses (including legal fees and disbursements), collateral protection
expenses and
other reimbursement or indemnity obligations created or evidenced by the Credit Agreement or any of the other Loan Documents, or any prior, concurrent, or subsequent notes, instruments or agreements
of indebtedness, liabilities or obligations of any type or form whatsoever relating thereto in favor of the Agent or any of the Revolving Credit Lenders. Senior Debt shall expressly include any and
all interest accruing or out of pocket costs or expenses incurred after the date of any filing by or against the Borrower of any petition under the federal Bankruptcy Code or any other bankruptcy,
insolvency or reorganization act regardless of whether the Agent's or any Revolving Credit Lender's claim therefor is allowed or allowable in the case or proceeding relating thereto. 

         Subordinated Debt.    All principal, interest (including interest accrued pursuant to the Subordinated Notes), fees, costs, enforcement
expenses
(including legal fees and disbursements), collateral protection expenses and other reimbursement and indemnity obligations created or evidenced by the Subordinated Notes, or any prior, concurrent or
subsequent notes, instruments or agreements of indebtedness, liabilities or obligations of any type or form whatsoever relating thereto in favor of any of the Subordinating Creditors. 

        2.    General.    Except as expressly permitted by Section 5.20
of the Credit Agreement, the Subordinated Debt and any and all Subordinated Notes shall be and hereby are subordinated and the payment thereof is deferred until the full and final payment in cash of
the Senior Debt, whether now or hereafter incurred or owed by the Borrower. The Subordinating Creditor acknowledges and agrees that, except as expressly permitted by Section 5.20 of the Credit
Agreement, the Subordinated Debt may not be prepaid without the consent of the Agent and the Majority Lenders, such consent to be granted or withheld in the sole and absolute discretion of the Agent
and the Revolving Credit Lenders. 

        3.    Enforcement.    The Subordinating Creditor will not take or omit to take any action or assert any claim with
respect to the Subordinated Debt or otherwise which is inconsistent with the provisions of this Intercreditor Agreement. Without limiting the foregoing, until the Senior Debt has been finally repaid
in full in cash, the Subordinating Creditor will not assert, collect or enforce the Subordinated Debt or any part thereof or take any action to foreclose or realize upon the Subordinated Debt or any
part thereof or enforce any of the Subordinated Notes except to the extent (but only to such extent) that the commencement of a legal action may be required to toll the running of any applicable
statute of limitation, to defend any challenge to the validity of the Subordinated Debt, or to file a proof of claim or to make a vote in a proceeding described in §6.1. Until the
Senior Debt has been finally paid in full in cash, the Subordinating Creditor shall not have any right of subrogation, reimbursement, restitution, contribution or indemnity whatsoever from any assets
of the Borrower or any guarantor of or provider of collateral security for the Senior Debt. The Subordinating Creditor further waives any and all rights with respect to marshalling. 

        4.    Payments Held in Trust.    Until the Senior Debt is paid in full in cash, except for payments expressly
permitted by Section 5.20 of the Credit Agreement, the Subordinating Creditor will hold in trust and immediately pay over to the Agent for the account of the Revolving Credit Lenders and the
Agent, in the same form of payment received, with appropriate endorsements, for application to the Senior Debt any cash amount that the Borrower pays to the 

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Subordinating
Creditor with respect to any Subordinated Debt, or as collateral for the Senior Debt any other assets of the Borrower that the Subordinating Creditor may receive with respect to the
Subordinated Debt. Subject to the payment in full in cash of all Senior Debt, the Subordinating Creditor shall, to the extent of all payments or distributions made to the Agent and the Revolving
Credit Lenders pursuant to this Intercreditor Agreement which would otherwise be payable in respect of the Subordinated Debt, be subrogated to the rights of the Agent and the Revolving Credit Lenders
to receive payments or distributions of cash, properties or securities applicable to the Senior Debt until the principal of and interest on the Subordinated Debt shall be paid in full. For purposes of
such subrogration, no payments or distributions to the Agent or the Revolving Credit Lenders of any cash, property or securities to which the Subordinating Creditor would be entitled except for the
provisions of this Intercreditor Agreement, and no payment over to the Agent or the Revolving Credit Lenders pursuant to this Intercreditor Agreement by the Subordinating Creditor as between the
Borrower, its creditors (other than the Agent and the Revolving Credit Lenders) and the Subordinating Creditor, shall be deemed to be a payment by the Borrower to or on account of the Senior Debt. 

        5.    Defense to Enforcement.    If the Subordinating Creditor, in contravention of the terms of this Intercreditor
Agreement, shall commence, prosecute or participate in any suit, action or proceeding against the Borrower, then the Borrower may interpose as a defense or plea the making of this Intercreditor
Agreement, and the Agent or any Revolving Credit Lender may intervene and interpose such defense or plea in its name or in the name of the Borrower. If the Subordinating Creditor, in contravention of
the terms of this Intercreditor Agreement, shall attempt to collect any of the Subordinated Debt or enforce any of the Subordinated Notes, then the Agent, any Revolving Credit Lender or the Borrower
may, by virtue of this Intercreditor Agreement, restrain the enforcement thereof in the name of the Agent or such Revolving Credit Lender or in the name of the Borrower. If the Subordinating Creditor,
in contravention of the terms of this Intercreditor Agreement, obtains any cash or other assets of the Borrower as a result of any administrative, legal or equitable actions, or otherwise, the
Subordinating Creditor agrees forthwith to pay, deliver and assign to the Agent, for the account of the Revolving Credit Lenders and the Agent, with appropriate endorsements, any such cash for
application to the Senior Debt and any such other assets as collateral for the Senior Debt. 

 1. Bankruptcy, etc.

        1.1.    Payments relating to Subordinated Debt.    At any meeting of creditors of the Borrower or in the event of any
case or proceeding, voluntary or involuntary, for the distribution, division or application of all or part of the assets of the Borrower or the proceeds thereof, whether such case or proceeding be for
the liquidation, dissolution or winding up of the Borrower or its business, a receivership, insolvency or bankruptcy case or proceeding, an assignment for the benefit of creditors or a proceeding by
or against the Borrower for relief under the federal Bankruptcy Code or any other bankruptcy, reorganization or insolvency law or any other law relating to the relief of debtors, readjustment of
indebtedness, reorganization, arrangement, composition or extension or marshalling of assets or otherwise, the Agent is hereby irrevocably authorized at any such meeting or in any such proceeding to
receive or collect for
the benefit of the Revolving Credit Lenders and the Agent any cash or other assets of the Borrower distributed, divided or applied by way of dividend or payment, or any securities issued on account of
any Subordinated Debt, and apply such cash to or to hold such other assets or securities as collateral for the Senior Debt, and to apply to the Senior Debt any cash proceeds of any realization upon
such other assets or securities that the 

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Agent
in its discretion elects to effect, until all of the Senior Debt shall have been paid in full in cash, rendering to the Subordinating Creditor any surplus to which the Subordinating Creditor is
then entitled. 

        1.2.    Securities by Plan of Reorganization or Readjustment.    Notwithstanding the foregoing provisions of
§6.1, the Subordinating Creditor shall be entitled to receive and retain any securities of the Borrower or any other corporation or other entity provided for by a plan of reorganization or
readjustment (a) the payment of which securities is subordinate, at least to the extent provided in this Intercreditor Agreement with respect to Subordinated Debt, to the payment of all Senior
Debt under any such plan of reorganization or readjustment and (b) all other terms of which are acceptable to the Revolving Credit Lenders and the Agent. 

        1.3.    Subordinated Debt Voting Rights.    At any such meeting of creditors or in the event of any such case or
proceeding, the Subordinating Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt (including, without limitation, the right to vote to accept or reject any
plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that the Subordinating Creditor shall not vote
with respect to any such plan or take any other action in any way so as to contest (a) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (b) the relative
rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or
(c) the Subordinating Creditor's obligations and agreements set forth in this Intercreditor Agreement. 

        1.4.    Lien Subordination.    The Senior Debt, the Credit Agreement and the other Loan Documents and any and all
other documents and instruments evidencing or creating the Senior Debt and all guaranties, mortgages, security agreements, pledges and other collateral guarantying or securing the Senior Debt or any
part thereof shall be senior to the Subordinated Debt and all of the Subordinated Notes irrespective of the time of the execution, delivery or issuance of any thereof or the filing or recording for
perfection of any thereof or the filing of any financing statement or continuation statement relating to any thereof. 

        1.5.    Further Assurances.    The Subordinating Creditor hereby agrees, upon request of the Agent at any time and
from time to time, to execute such other documents or instruments as may be requested by the Agent further to evidence of public record or otherwise the senior priority of the Senior Debt as
contemplated hereby. 

        1.6.    Books and Records.    The Subordinating Creditor further agrees to maintain on its books and records such
notations as the Agent may reasonably request to reflect the subordination contemplated hereby and to perfect or preserve the rights of the Agent hereunder. 

        1.7.    Revolving Credit Lenders' Freedom of Dealing.    The Subordinating Creditor agrees, with respect to the Senior
Debt and any and all collateral therefor or guaranties thereof, that the Borrower and the Revolving Credit Lenders may agree to increase the amount of the Senior Debt or otherwise modify the terms of
any of the Senior Debt, and the Revolving Credit Lenders may grant extensions of the time of payment or performance to and make compromises, including releases of collateral or guaranties, and
settlements with the Borrower and all other persons, in each case without the consent of the Subordinating Creditor or the 

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Borrower
and without affecting the agreements of the Subordinating Creditor or the Borrower contained in this Intercreditor Agreement; provided,  however,
(a) that nothing contained in this §8 shall constitute a waiver of the right of the Borrower itself to agree or consent to a
settlement or compromise of a claim which the Agent or any Revolving Credit Lender may have against the Borrower, and (b) no amendment to Section 5.20 of the Credit Agreement which
further restricts the payments on the Subordinated Notes shall be effective without the consent of the Subordinating Creditor. 

        1.8.    Modification or Sale of the Subordinated Debt.    The Subordinating Creditor will not, at any time while this
Intercreditor Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Notes; nor will the Subordinating Creditor sell, transfer, pledge, assign,
hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party
hereto and to succeed to the rights and to bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating
Creditor will notify the Agent at least ten (10) days prior to the date of any of such intended disposition. 

        1.9.    Borrower's Obligations Absolute.    Nothing contained in this Intercreditor Agreement shall impair, as between
the Borrower and the Subordinating Creditor, the obligation of the Borrower to pay to the Subordinating Creditor all amounts payable in respect of the Subordinated Debt as and when the same
shall become due and payable in accordance with the terms thereof, or prevent the Subordinating Creditor (except as expressly otherwise provided in §3 or §6) from exercising
all rights, powers and remedies otherwise permitted by Subordinated Notes and by applicable law upon a default in the payment of the Subordinated Debt or under any Subordinated Note, all, however,
subject to the rights of the Agent and the Revolving Credit Lenders as set forth in this Intercreditor Agreement. The failure of the Borrower to make any payment with respect to the Subordinated Debt
in accordance with its terms by reason of the operation of this Intercreditor Agreement shall not be construed as preventing the occurrence of a default under the Subordinated Notes. 

        1.10.    Termination of Subordination.    This Intercreditor Agreement shall continue in full force and effect, and
the obligations and agreements of the Subordinating Creditor and the Borrower hereunder shall continue to be fully operative, until all of the Senior Debt shall have been paid and satisfied in full in
cash and such full payment and satisfaction shall be final and not avoidable. To the extent that the Borrower or any guarantor of or provider of collateral for the Senior Debt makes any payment on the
Senior Debt that is subsequently invalidated, declared to be fraudulent or preferential or set aside or is required to be repaid to a trustee, receiver or any other party under any bankruptcy,
insolvency or reorganization act, state or federal law, common law or equitable cause (such payment being hereinafter referred to as a "Voided Payment"), then to the extent of such Voided Payment,
that portion of the Senior Debt that had been previously satisfied by such Voided Payment shall be revived and continue in full force and effect as if such Voided Payment had never been made. In the
event that a Voided Payment is recovered from the Agent or any Revolving Credit Lender, an Event of Default shall be deemed to have existed and to be continuing under the Credit Agreement from the
date of the Agent's or such Revolving Credit Lender's initial receipt of such Voided Payment until the full amount of such Voided Payment is restored to the Agent or such Revolving Credit Lender.
During any continuance of any such Event of Default, this Intercreditor Agreement shall be in full force and effect with respect to the Subordinated Debt. To the extent that the Subordinating Creditor
has received any payments with respect to the Subordinated Debt subsequent to the 

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date
of the Agent's or any Revolving Credit Lender's initial receipt of such Voided Payment and such payments have not been invalidated, declared to be fraudulent or preferential or set aside or are
required to be repaid to a trustee, receiver, or any other party under any bankruptcy act, state or federal law, common law or equitable cause, the Subordinating Creditor shall be obligated and hereby
agrees that any such payment so made or received shall be deemed to have been received in trust for the benefit of the Agent or such Revolving Credit Lender, and the Subordinating Creditor hereby
agrees to pay to the Agent for the benefit of the Agent or (as the case may be) such Revolving Credit Lender, upon demand, the full amount so received by the Subordinating Creditor during such period
of time to the extent necessary fully to restore to the Agent or such Revolving Credit Lender the amount of such Voided Payment. Upon the payment and satisfaction in full in cash of all of the Senior
Debt, which payment shall be final and not avoidable, this Intercreditor Agreement will automatically terminate without any additional action by any party hereto. 

        1.11.    Notices.    All notices and other communications which are required and may be given pursuant to the terms of
this Intercreditor Agreement shall be in writing and shall be sufficient and effective in all respects if given in writing or telecopied, delivered or mailed by registered or certified mail, postage
prepaid, as follows: 

        If
to the Agent: 

	 	 	Fleet Retail Finance Inc.

40 Broad Street

Boston, MA 02109
	

Attention:	
 	

Sally A. Sheehan
	

Fax:	
 	

617-434-4339
	

with a copy to:	
 	

 
	

 	
 	

Bingham Dana LLP

150 Federal Street

Boston, MA 02110
	

Attention:	
 	

Robert A.J. Barry
	

Fax:	
 	

617-434-8736

        If
to the Subordinating Creditor: 

	

 	
 	

Holiday Companies

4567 West 80th Street

Bloomington, MN 55437
	

Attention:	

 	

Ronald A. Erickson, CEO
	

Fax:	
 	

952-832-8606

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with a copy to:	

 	

 
	

 	
 	

Holiday Companies

4567 West 80th Street

Bloomington, Minnesota 55437
	

Attention:	
 	

Legal Department
	

Fax:	
 	

952-830-1681

        If
to the Borrower: 

	

 	
 	

Gander Mountain Company

4567 West 80th Street

Bloomington, MN 55437
	

Attention:	

 	

Robert Klein, Chief Financial Officer
	

Fax:	
 	

952-832-8656
	

with a copy to:	
 	

 
	

 	
 	

Gander Mountain Company

4567 West 80th Street

Bloomington, Minnesota 55437
	

Attention:	
 	

Legal Department
	

Fax:	
 	

952-830-1681

        or such other address or addresses as any party hereto shall have designated by written notice to the other parties hereto. Notices shall be deemed given and
effective upon the earlier to occur of (i) the third day following deposit thereof in the U.S. mail or (ii) receipt by the party to whom such notice is directed. 

        1.12.    Governing Law.    THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE
WITH THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS AND SHALL BE A SEALED INSTRUMENT UNDER SUCH LAWS.

        1.13.    Waiver of Jury Trial.    EACH OF THE SUBORDINATING CREDITOR AND THE BORROWER HEREBY
WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS
AND OBLIGATIONS. EXCEPT AS PROHIBITED BY LAW, EACH OF THE SUBORDINATING CREDITOR AND THE BORROWER HEREBY WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION REFERRED TO IN THE
PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH OF THE SUBORDINATING CREDITOR AND THE
BORROWER

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(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE AGENT OR ANY REVOLVING CREDIT LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE AGENT OR ANY
REVOLVING CREDIT LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B) ACKNOWLEDGES THAT THE AGENT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE WAIVERS AND CERTIFICATIONS CONTAINED HEREIN.

        1.14.    Miscellaneous.    This Intercreditor Agreement may be executed in several counterparts and by each party on a
separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument. In proving this Intercreditor Agreement, it shall
not be necessary to produce or account for more than one such counterpart signed by the party against which enforcement is sought. The Agent, acting upon the instructions of the Majority Lenders, may,
in its sole and absolute discretion, waive any provisions of this Intercreditor Agreement benefiting the Agent and the Revolving Credit Lenders;  provided, however, that such waiver shall be effective only if in writing and signed by the Agent and
shall be limited to the specific provision or provisions expressly so waived. This Intercreditor Agreement shall be binding upon the successors and assigns of the Subordinating Creditor and the
Borrower and shall inure to the benefit of the Agent and the Revolving Credit Lenders, the Agent's and the Revolving Credit Lenders' respective successors and assigns, any lender or lenders refunding
or refinancing any of the Senior Debt and their respective successors and assigns, but shall not otherwise create any rights or benefits for any third party. In the event that any lender or lenders
refund or refinance any of the Senior Debt, the terms "Credit Agreement", "Loan Documents", "Event of Default" and the like shall refer mutatis mutandis
to the agreements and instruments in favor of such lender or lenders and to the related definitions contained therein. In the event of any inconsistency or conflict between the Subordinated Notes and
this Intercreditor Agreement, such inconsistency or conflict will be governed by the terms of this Intercreditor Agreement and not the Subordinated Notes. This Intercreditor Agreement constitutes the
entire agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and understandings of the parties with
respect to the same. 

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

	AGENT:	 	FLEET RETAIL FINANCE INC., as Agent
	

 	
 	

By:	
 	

/s/  SALLY A. SHEEHAN      
 Name: Sally A. Sheehan

Title: Director
	

SUBORDINATING CREDITOR:	
 	
HOLIDAY COMPANIES
	

 	
 	

By:	
 	

/s/  RONALD A. ERICKSON      
 Name: Ronald A. Erickson

Title: Chief Executive Officer
	

BORROWER:	
 	
GANDER MOUNTAIN COMPANY
	

 	
 	

By:	
 	

/s/  DENNIS M. LINDAHL      
 Name: Dennis M. Lindahl

Title: Assistant Treasurer

CERTIFICATE OF ACKNOWLEDGMENT 

	STATE OF MINNESOTA	 	
	)
	 
	 	 	 	)	ss.
	COUNTY OF HENNEPIN	 	
	)
	 

        Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this 18th day of December 2001, personally appeared Ronald A. Erickson to me known personally, and
who, being by me duly sworn, deposes and says that he is the Chief Executive Officer of HOLIDAY COMPANIES and that said instrument was signed and sealed
on behalf of said HOLIDAY COMPANIES by authority of its members, and said Chief Executive Officer acknowledged said instrument to be the free act and
deed of said corporation. 

	 	 	/s/  DAWN E. PROKOP      
 Notary Public

My commission expires: Jan. 31, 2005

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Exhibit 10.6

INTERCREDITOR AGREEMENTQuickLinks
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Exhibit 10.7    
    

 
 

TRADEMARK COLLATERAL
  SECURITY AND PLEDGE AGREEMENT    
    

        TRADEMARK COLLATERAL SECURITY AND PLEDGE AGREEMENT dated as of December 19, 2001 among Gander Mountain
Company, a Delaware corporation having its principal executive offices at 4567 80th Street, Bloomington, Minnesota 55437, (the
"Assignor"), and Fleet Retail Finance, Inc., a Delaware corporation having an office at 40 Broad Street, Boston, Massachusetts 02109, as agent
(hereinafter, in such capacity, the "Agent") for itself and the other lending institutions (hereinafter, collectively, the
"Revolving Credit Lenders") which are, or may in the future become, parties to a Loan and Security Agreement dated as of December 19, 2001 (as amended
and in effect from time to time, the "Loan and Security Agreement"), among the Assignor, the Revolving Credit Lenders and the Agent. 

        WHEREAS, it is a condition precedent to the Revolving Credit Lenders making any loans or otherwise extending credit to the Assignor under
the Loan and Security Agreement that the Assignor execute and deliver to the Agent, for the benefit of itself and the Revolving Credit Lenders, a trademark agreement in substantially the form hereof; 

        WHEREAS, the Assignor has executed and delivered to the Agent, for the benefit of itself and the Revolving Credit Lenders, the Loan and
Security Agreement pursuant to which the Assignor has granted to the Agent, for the benefit of itself and the Revolving Credit Lenders, a security interest in certain of the Assignor's personal
property assets, including without limitation the trademarks, service marks, trademark and service mark registrations, and trademark and service mark registration applications listed on  Schedule A
attached hereto, all to secure the payment and performance of the Liabilities (as defined in the Loan and Security Agreement); and
 

        WHEREAS, this Trademark Agreement is supplemental to the provisions contained in the Loan and Security Agreement; 

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

 
 

1. DEFINITIONS.    
    

        Capitalized terms used herein and not otherwise defined herein shall have the respective meanings provided therefor in the Loan and Security Agreement. In
addition, the following terms shall have the meanings set forth in this §1 or elsewhere in this Trademark Agreement referred to below: 

         Assignment of Marks.    See §2.1. 

        Associated Goodwill.    All goodwill of the Assignor and its business, products and services appurtenant to, associated with or symbolized
by the
Trademarks and the use thereof. 

 

         Pledged Trademarks.    All of the Assignor's right, title and interest in and to all of the Trademarks, the Trademark Registrations, the
Trademark
License Rights, the Trademark Rights, the Associated Goodwill, the Related Assets, and all accessions to, substitutions for, replacements of, and all products and proceeds of any and all of the
foregoing. 

         PTO.    The United States Patent and Trademark Office. 

         Related Assets.    All assets, rights and interests of the Assignor that uniquely reflect or embody the Associated Goodwill, including the
following: 

        (a)   all
patents, inventions, copyrights, trade secrets, confidential information, formulae, methods or processes, compounds, recipes, know-how, methods and operating
systems, drawings, descriptions, formulations, manufacturing and production and delivery procedures, quality control procedures, product and service specifications, catalogs, price lists, and
advertising materials, relating to the manufacture, production, delivery, provision and sale of goods or services under or in association with any of the Trademarks; and 

        (b)   the
following documents and things in the possession or under the control of the Assignor, or subject to its demand for possession or control, related to the production,
delivery, provision and sale by the Assignor, or any affiliate, franchisee, licensee or contractor, of products or services sold by or under the authority of the Assignor in connection with the
Trademarks, Trademark Rights or Trademark License Rights, whether prior to, on or subsequent to the date hereof: 

        (i)    all
lists, contracts, ancillary documents and other information that identify, describe or provide information with respect to any customers, dealers or distributors of
the Assignor, its affiliates or franchisees or licensees or contractors, for products or services sold under or in connection with the Trademarks, Trademark Rights or Trademark License Rights,
including all lists and documents containing information regarding each customer's, dealer's or distributor's name and address, credit, payment, discount, delivery and other sale terms, and history,
pattern and total of purchases by brand, product, style, size and quantity; 

        (ii)   all
agreements (including franchise agreements), product and service specification documents and operating, production and quality control manuals relating to or used
in the design, manufacture, production, delivery, provision and sale of products or services under or in connection with the Trademarks, Trademark Rights or Trademark License Rights; 

        (iii)  all
documents and agreements relating to the identity and locations of all sources of supply, all terms of purchase and delivery, for all materials, components, raw
materials and other supplies and services used in the manufacture, production, provision, delivery and sale of 

2

 

products
or services under or in connection with the Trademarks, Trademark Rights or Trademark License Rights; and 

        (iv)  all
agreements and documents constituting or concerning the present or future, current or proposed advertising and promotion by the Assignor (or any of its affiliates,
franchisees, licensees or contractors) of products or services sold under or in connection with the Trademarks, Trademark Rights or Trademark License Rights. 

         Trademark Agreement.    This Trademark Collateral Security and Pledge Agreement, as amended and in effect from time to time. 

        Trademark License Rights.    Any and all present or future rights and interests of the Assignor pursuant to any and all present and future
franchising
or licensing agreements in favor of the Assignor, or to which the Assignor is a party, pertaining to any Trademarks, Trademark Registrations, or Trademark Rights owned or used by third parties in the
present or future, including the right (but not the obligation) in the name of the Assignor or the Agent to enforce, and sue and recover for, any breach or violation of any such agreement to which the
Assignor is a party. 

         Trademark Registrations.    All present or future federal, state, local and foreign registrations of the Trademarks, all present and
future applications
for any such registrations (and any such registrations thereof upon approval of such applications), together with the right (but not the obligation) to apply for such registrations (and prosecute such
applications) in the name of the Assignor or the Agent, and to take any and all actions necessary or appropriate to maintain such registrations in effect and renew and extend such registrations. 

         Trademark Rights.    Any and all present or future rights in, to and associated with the Trademarks throughout the world, whether arising
under federal
law, state law, common law, foreign law or otherwise, including the following: all such rights arising out of or associated with the Trademark Registrations; the right (but not the obligation) to
register claims under any state, federal or foreign trademark law or regulation; the right (but not the obligation) to sue or bring opposition or cancellation proceedings in the name of the Assignor
or the Agent for any and all present and future infringements or dilution of or any other damages or injury to the Trademarks, any of the Trademark Rights, Trademark License Rights or the Associated
Goodwill, and the rights to damages or profits due or accrued arising out of or in connection with any such present or future infringement, dilution, damage or injury. 

         Trademarks.    All of the trademarks, service marks, designs, logos, indicia, trade names, corporate names, company names, business names,
fictitious
business names, trade styles, elements of package or trade dress, and other source and product or service identifiers, used or associated with or appurtenant to the products, services and businesses
of the Assignor, that (i) are set forth on Schedule A hereto, or (ii) have been adopted, acquired, owned, held or used by the Assignor and are now
owned, held or used by
the Assignor, in the Assignor's business, or with the Assignor's products and services, or in which the Assignor has any right, title or interest, or (iii) are in the future adopted, acquired, owned,
held and used by the Assignor in the Assignor's business or 

3

 

with
the Assignor's products and services, or in which the Assignor in the future acquires any right, title or interest. 

         U.S. Trademarks.    All of the Trademarks with respect to which the Assignor's rights have arisen or arise under the common law, the laws
of any state
or commonwealth of the United States or of the United States. 

         use.    With respect to any Trademark, all uses of such Trademark by, for or in connection with the Assignor or its business or for the
direct or
indirect benefit of the Assignor or its business, including all such uses by the Assignor itself, by any of the affiliates of the Assignor, or by any franchisee, licensee or contractor of the
Assignor. For the avoidance of doubt, the Assignor shall not be deemed to "use" any trademark of a third party merely because the Assignor acquires goods or services (marked with such trademark) from
such third party for resale or use in the ordinary course of the Assignor's business. 

        Unless
otherwise provided herein, the rules of interpretation set forth in §19.14 of the Loan and Security Agreement shall be applicable to this Trademark Agreement. 

 
 

2. GRANT OF SECURITY INTEREST.    
    

        2.1.    Security Interest; Assignment of Marks.    As collateral security for the payment and performance in full of
all of the Liabilities, the Assignor hereby unconditionally grants to the Agent, for the benefit of itself and the Revolving Credit Lenders, a continuing security interest in and first priority lien
on the Pledged Trademarks, and pledges and mortgages (but does not transfer title to) the Pledged Trademarks to the Agent for the benefit of itself and the Revolving Credit Lenders. In addition, the
Assignor has executed in blank and delivered to the Agent an assignment of federally registered
trademarks in substantially the form of Exhibit 1 hereto (the "Assignment of
Marks"). The Assignor hereby authorizes the Agent to complete as assignee and record with the PTO the Assignment of Marks upon
the occurrence and during the continuance of an Event of Default and the proper exercise of the Agent's remedies under this Trademark Agreement and the Loan and Security Agreement. 

        2.2.    Conditional Assignment.    In addition to, and not by way of limitation of, the grant, pledge and mortgage of
the Pledged Trademarks provided in §2.1, the Assignor grants, assigns, transfers, conveys and sets over to the Agent, for the benefit of itself and the Revolving Credit Lenders, the
Assignor's entire right, title and interest in and to the Pledged Trademarks; provided that such grant, assignment, transfer and conveyance shall be and
become of force and effect only upon the sale or other disposition of or foreclosure upon the Collateral by the Agent pursuant to the Loan and Security Agreement and applicable law (including the
transfer or other disposition of the Collateral by the Assignor to the Agent or its nominee in lieu of foreclosure). 

        2.3.    Supplemental to Loan and Security Agreement.    Pursuant to the Loan and Security Agreement the Assignor has
granted to the Agent, for the benefit of itself and the Revolving Credit Lenders, a continuing security interest in and lien on the Collateral (including the Pledged Trademarks). The Loan and Security
Agreement, and all rights and interests of the Agent in and to the Collateral (including the Pledged Trademarks) thereunder, are hereby ratified and confirmed in all respects. In no event shall this 

4

 

Trademark
Agreement, the grant, assignment, transfer and conveyance of the Pledged Trademarks hereunder, or the recordation of this Trademark Agreement (or any document hereunder) with the PTO,
adversely affect or impair, in any way or to any extent, the Loan and Security Agreement, the security interest of the Agent in the Collateral (including the Pledged Trademarks) pursuant to the Loan
and Security Agreement and this Trademark Agreement, the attachment and perfection of such security interest under the Uniform Commercial Code (including the security interest in the Pledged
Trademarks), or any present or future rights and interests of the Agent in and to the Collateral under or in connection with the Loan and Security Agreement, this Trademark Agreement or the Uniform
Commercial Code. Any and all rights and interests of the Agent in and to the Pledged Trademarks (and any and all Liabilities of the Assignor with respect to the Pledged Trademarks) provided herein, or
arising hereunder or in connection herewith, shall only supplement and be cumulative and in addition to the rights and interests of the Agent (and the Liabilities of the Assignor) in, to or with
respect to the Collateral (including the Pledged Trademarks) provided in or arising under or in connection with the Security Agreement and shall not be in derogation thereof. 

 
 

3. REPRESENTATIONS, WARRANTIES AND COVENANTS.    
    

        The Assignor represents, warrants and covenants that: as of the date hereof, except as set forth on  Schedule B attached hereto, (i)
Schedule A sets forth a true and complete list of all Trademark
Registrations and other material Trademarks now owned, licensed, controlled or used by the Assignor; (ii) the Trademark Registrations and other material Trademarks are subsisting and have not been
adjudged invalid or unenforceable, in whole or in part, and there is no litigation or proceeding pending (other than objections raised during the pendency of an application) concerning the validity or
enforceability of the Trademark Registrations and other material Trademarks, other than litigation or proceedings which would not have a material adverse effect on the business or assets of the
Assignor; (iii) to the best of the Assignor's knowledge, each of the Trademark Registrations and other material Trademarks is valid and enforceable; (iv) to the best of the Assignor's knowledge, there
is no infringement by others of the Trademark Registrations, other material Trademarks, Trademark Rights or Trademark License Rights which would have a material adverse effect on the business or
assets of the Assignor; (v) no written claim has been received by the Assignor that the use of any of the Trademark Registrations or material Trademarks by the Assignor does or may violate the rights
of any third person, and to the best of the Assignor's knowledge, there is no infringement by the Assignor of the trademark rights of others which would have a material adverse effect on the business
or assets of the Assignor; (vi) the Assignor is the sole and exclusive owner of the entire and unencumbered right, title and interest in and to each of the Trademark Registrations (other than
ownership and other rights reserved by third party owners with respect to Trademarks that the Assignor is licensed to use), free and clear of any liens, charges, encumbrances and adverse claims,
including pledges, assignments, licenses, registered user agreements and covenants by the Assignor not to sue third persons, other than the security interest and assignment created by the Loan and
Security Agreement and this Trademark Agreement; (vii) the Assignor has the unqualified right to enter into this Trademark Agreement and to perform its terms; (viii) the Assignor has used, and will
continue to use, proper statutory and other appropriate proprietary notices in connection with its use of the Trademarks; (ix) the Assignor has used, and will continue to use for the duration of this
Trademark 

5

 

Agreement,
consistent standards of quality in its manufacture and provision of products and services sold or provided under the Trademarks; (x) this Trademark Agreement, together with the Loan and
Security Agreement, will create in favor of the Agent a valid and perfected first priority security interest in the U.S. Trademarks upon making the filings referred to in clause (xi) of this
§3; and (xi) except for the filing of financing statements with the Secretary of State for the State of Delaware under the Uniform Commercial Code and the recording of this Trademark
Agreement with the PTO, no authorization, approval or other action by, and no notice to or filing with, any governmental or regulatory authority, agency or office is required either (A) for the grant
by the Assignor or the effectiveness of the security interest and assignment granted hereby in the U.S. Trademarks or for the execution, delivery and performance of this Trademark Agreement by the
Assignor, or (B) for the perfection of or the exercise by the Agent of any of its rights and remedies hereunder, solely to the extent arising under the laws of any state or commonwealth of the United
States or the United States. 

 
 

4. INSPECTION RIGHTS.    
    

        The Assignor hereby grants to each of the Agent and the Revolving Credit Lenders and its employees and agents the right to visit the Assignor's plants and
facilities that manufacture, inspect or store products sold under any of the Trademarks, and to inspect the products and quality control records relating thereto at reasonable times during regular
business hours. 

 
 

5. NO TRANSFER OR INCONSISTENT AGREEMENTS.    
    

        Without the Agent's prior written consent (which consent shall not be unreasonably withheld or delayed), except for licenses of the Pledged Trademarks in the
ordinary course of the Assignor's business consistent with past practices, the Assignor will not (i) mortgage, pledge, assign, encumber, grant a security interest in, transfer, license or alienate any
of the Pledged Trademarks, or (ii) enter into any agreement (for example, a license agreement) that is inconsistent with the Assignor's obligations under this Trademark Agreement or the Loan and
Security Agreement. 

 
 

6. AFTER-ACQUIRED TRADEMARKS, ETC.    
    

        6.1.    After-acquired Trademarks.    If, before the Liabilities shall have been finally paid and satisfied in full,
the Assignor shall obtain any right, title or interest in or to any other or new Trademarks, Trademark Registrations, Trademark Rights or Trademark License Rights, the provisions of this Trademark
Agreement shall automatically apply thereto and the Assignor shall quarterly provide to the Agent notice thereof in writing and execute and deliver to the Agent such documents or instruments as the
Agent may reasonably request further to implement, preserve or evidence the Agent's interest therein. 

        6.2.    Amendment to Schedule.    The Assignor authorizes the Agent to modify this Trademark Agreement and the
Assignment of Marks, without the necessity of the Assignor's further approval or signature, by amending Exhibit A hereto and the  Annex to the Assignment of
Marks to include any future or other Trademarks, Trademark Registrations, Trademark Rights or Trademark License Rights under
§2 or §6. 

6

 
 
 

7. TRADEMARK PROSECUTION.    
    

        7.1.    Assignor Responsible.    As between the Assignor, the Agent and the Revolving Credit Lenders, the Assignor
shall assume full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in connection with the Pledged Trademarks, and shall hold each of
the Agent and the Revolving Credit Lenders harmless from any and all costs, damages, liabilities and expenses that may be incurred by the Agent or any Revolving Credit Lender in connection with the
Agent's interest in the Pledged Trademarks or any other action or failure to act in connection with this Trademark Agreement or the transactions contemplated hereby. In respect of such responsibility,
the Assignor shall retain trademark counsel reasonably acceptable to the Agent. 

        7.2.    Assignor's Duties, etc.    The Assignor shall have the right and the duty (to the extent determined by the
Assignor in its reasonable business judgment to be advisable), through trademark counsel reasonably acceptable to the Agent, to prosecute diligently any trademark registration applications of the
Trademarks pending as of the date of this Trademark Agreement or thereafter, to preserve and maintain all rights in the Trademarks and Trademark Registrations, including the filing of appropriate
renewal applications and other instruments to maintain in effect the Trademark Registrations and the payment when due of all registration renewal fees and other fees, taxes and other expenses that
shall be incurred or that shall accrue with respect to any of the Trademarks or Trademark Registrations. Any expenses incurred in connection with such applications and actions shall be borne by the
Assignor. The Assignor shall not abandon any filed trademark registration application, or any Trademark Registration or Trademark, without the consent of the Agent, which consent shall not be
unreasonably withheld or delayed. 

        7.3.    Assignor's Enforcement Rights.    The Assignor shall have the right and the duty (to the extent determined by
the Assignor in its reasonable business judgment to be advisable) to bring suit or other action in the Assignor's own name to maintain and enforce the Trademarks, the Trademark Registrations, the
Trademark Rights and the Trademark License Rights. The Assignor may require the Agent to join in such suit or action as necessary to assure the Assignor's ability to bring and maintain any such suit
or action in any proper forum if (but only if) the Agent is completely satisfied that such joinder will not subject the Agent or any Bank to any risk of liability. The Assignor shall promptly, upon
demand, reimburse and indemnify the Agent for all damages, costs and expenses, including legal fees, incurred by the Agent pursuant to this §7.3. 

        7.4.    Protection of Trademarks, etc.    In general, the Assignor shall take (to the extent determined by the
Assignor in its reasonable business judgment to be advisable) any and all such actions (including institution and maintenance of suits, proceedings or actions) as may be necessary or appropriate to
properly maintain, protect, preserve, care for and enforce the Trademarks, the Trademark Registrations, the Trademark Rights or the Trademark License Rights. The Assignor shall not take (to the extent
determined by the Assignor in its reasonable business judgment to be advisable) or fail to take any
action, nor permit any action to be taken or not taken by others under its control, that would adversely affect the validity, grant or enforcement of the Trademarks, the Trademark Registrations, the
Trademark Rights or the Trademark License Rights. 

7

 

        7.5.    Notification by Assignor.    Promptly upon obtaining knowledge thereof, the Assignor will notify the Agent in
writing of the institution of, or any final adverse determination in, any proceeding in the PTO or any similar office or agency of the United States or any foreign country, or any court, regarding the
validity of any of the Trademarks or Trademark Registrations or the Assignor's rights, title or interests in and to the Trademarks, the Trademark Registrations, the Trademark Rights or the Trademark
License Rights and of any event that does or reasonably could materially adversely affect the value of any of the Trademarks, the Trademark Registrations, the Trademark Rights or the Trademark License
Rights, the ability of the Assignor or the Agent to dispose of any of the Trademarks, the Trademark Registrations, the Trademark Rights or the Trademark License Rights or the rights and remedies of
the Agent in relation thereto (including but not limited to the levy of any legal process against any of the Trademarks, the Trademark Registrations, the Trademark Rights or the Trademark License
Rights). 

 
 

8. REMEDIES.    
    

        Upon the occurrence and during the continuance of an Event of Default, the Agent shall have, in addition to all other rights and remedies given it by this
Trademark Agreement (including, without limitation, those set forth in §2.2 hereof), the Loan and Security Agreement and the other Loan Documents, all of the rights and remedies of a
secured party under the Uniform Commercial Code as enacted in the Commonwealth of Massachusetts, and, without limiting the generality of the foregoing, the Agent may immediately, without demand of
performance and without other notice (except as set forth next below) or demand whatsoever to the Assignor, all of which are hereby expressly waived, sell or license at public or private sale or
otherwise realize upon the whole or from time to time any part of the Pledged Trademarks, or any interest that the Assignor may have therein, and after deducting from the proceeds of sale or other
disposition of the Pledged Trademarks all expenses incurred by the Agent in attempting to enforce this Trademark Agreement (including all reasonable expenses for broker's fees and legal services),
shall apply the residue of such proceeds toward the payment of the Liabilities as set forth in or by reference in the Loan and Security Agreement. Written notice of any sale, license or other
disposition of the Pledged Trademarks shall be given to the Assignor at least ten (10) days before the time that any intended public sale or other public disposition of the Pledged Trademarks is to be
made or after which any private sale or other private disposition of the Pledged Trademarks may be made, which the Assignor hereby agrees shall be reasonable notice of such public or private sale or
other disposition. At any such sale or other disposition, the Agent may, to the extent permitted under applicable law, purchase or license the whole or any part of the Pledged Trademarks or interests
therein sold, licensed or otherwise disposed of. 

 
 

9. COLLATERAL PROTECTION.    
    

        If the Assignor shall fail to do any act that it has covenanted to do hereunder, or if any representation or warranty of the Assignor shall be breached in any
material respect, the Agent, in its own name or that of the Assignor (in the sole discretion of the Agent), may (but shall not be obligated to) do such act or remedy such breach (or cause such act to
be done or such breach to be remedied), and the Assignor agrees promptly to reimburse the Agent for any cost or expense incurred by the Agent in so doing. 

8

 
 
 

10. POWER OF ATTORNEY.    
    

        If any Event of Default shall have occurred and be continuing, the Assignor does hereby make, constitute and appoint the Agent (and any officer or agent of the
Agent as the Agent may select in its exclusive discretion) as the Assignor's true and lawful attorney-in-fact, with full power of substitution and with the power to endorse the Assignor's name on all
applications, documents, papers and instruments necessary for the Agent to use the Pledged Trademarks, or to grant or issue any exclusive or nonexclusive license of any of the Pledged Trademarks to
any third person, or to take any and all actions necessary for the Agent to assign, pledge, convey or otherwise transfer title in or dispose of any of the Pledged Trademarks or any interest of the
Assignor therein to any third person, and, in general, to execute and deliver any instruments or documents and do all other acts that the Assignor is obligated to execute and do hereunder. The
Assignor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof and releases each of the Agent and the Revolving Credit Lenders from any claims, liabilities,
causes of action or demands arising out of or in connection with any action taken or omitted to be taken by the Agent under this power of attorney (except for the Agent's gross negligence or willful
misconduct). This power of attorney is coupled with an interest and shall be irrevocable for the duration of this Trademark Agreement. 

 
 

11. FURTHER ASSURANCES.    
    

        The Assignor shall, at any time and from time to time, and at its expense, make, execute, acknowledge and deliver, and file and record as necessary or appropriate
with governmental or regulatory authorities, agencies or offices, such agreements, assignments, documents and instruments, and do such other and further acts and things (including, without limitation,
obtaining consents of third parties), as the Agent may request or as may be necessary or appropriate in order to implement and effect fully
the intentions, purposes and provisions of this Trademark Agreement, or to assure and confirm to the Agent the grant, perfection and priority of the Agent's security interest in the Pledged
Trademarks. 

 
 

12. TERMINATION.    
    

        At such time as all of the Liabilities have been finally paid and satisfied in full, this Trademark Agreement shall terminate and the Agent shall, upon the
written request and at the expense of the Assignor, execute and deliver to the Assignor all deeds, assignments and other instruments as may be necessary or proper to reassign and reconvey to and
re-vest in the Assignor the entire right, title and interest to the Pledged Trademarks previously granted, assigned, transferred and conveyed to the Agent by the Assignor pursuant to this Trademark
Agreement, as fully as if this Trademark Agreement had not been made, subject to any disposition of all or any part thereof that may have been made by the Agent pursuant hereto or the Loan and
Security Agreement. 

 
 

13. COURSE OF DEALING.    
    

        No course of dealing between the Assignor and the Agent, nor any failure to exercise, nor any delay in exercising, on the part of the Agent, any right, power or
privilege hereunder or under the Loan and Security Agreement or any other agreement 

9

 

shall
operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of
any other right, power or privilege. 

 
 

14. EXPENSES.    
    

        Any and all fees, costs and expenses, of whatever kind or nature, including the reasonable attorneys' fees and expenses incurred by the Agent in connection with
the preparation of this Trademark Agreement and all other documents relating hereto, the consummation of the transactions contemplated hereby or the enforcement hereof, the filing or recording of any
documents (including all taxes in connection therewith) in public offices, the payment or discharge of any taxes, counsel fees,
maintenance or renewal fees, encumbrances, or otherwise protecting, maintaining or preserving the Pledged Trademarks, or in defending or prosecuting any actions or proceedings arising out of or
related to the Pledged Trademarks, shall be borne and paid by the Assignor. 

 
 

15. OVERDUE AMOUNTS.    
    

        Until paid, all amounts due and payable by the Assignor hereunder shall be a debt secured by the Pledged Trademarks and other Collateral and shall bear, whether
before or after judgment, interest at the rate of interest for overdue principal set forth in the Loan and Security Agreement. 

 
 

16. NO ASSUMPTION OF LIABILITY; INDEMNIFICATION.    
    

        NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, NEITHER THE AGENT NOR ANY REVOLVING CREDIT LENDER ASSUMES ANY LIABILITIES OF
THE ASSIGNOR WITH RESPECT TO ANY CLAIM OR CLAIMS REGARDING THE ASSIGNOR'S OWNERSHIP OR PURPORTED OWNERSHIP OF, OR RIGHTS OR PURPORTED RIGHTS ARISING FROM, ANY OF THE PLEDGED TRADEMARKS OR ANY USE,
LICENSE OR SUBLICENSE THEREOF, WHETHER ARISING OUT OF ANY PAST, CURRENT OR FUTURE EVENT, CIRCUMSTANCE, ACT OR OMISSION OR OTHERWISE. ALL OF SUCH LIABILITIES SHALL BE EXCLUSIVELY THE RESPONSIBILITY OF
THE ASSIGNOR, AND THE ASSIGNOR SHALL INDEMNIFY THE AGENT AND THE REVOLVING CREDIT LENDERS FOR ANY AND ALL COSTS, EXPENSES, DAMAGES AND CLAIMS, INCLUDING LEGAL FEES, INCURRED BY THE AGENT OR ANY
REVOLVING CREDIT LENDER WITH RESPECT TO SUCH LIABILITIES.

 
 

17. NOTICES.    
    

        All notices and other communications made or required to be given pursuant to this Trademark Agreement shall be in writing and shall be delivered in hand, mailed
by United States registered or certified first-class mail, postage prepaid, or sent by telegraph, telecopy or telex and confirmed by delivery via courier or postal service, addressed as follows: 

        (a)   if
to the Assignor, at Gander Mountain Company, 4567 80th Street, Bloomington, Minnesota 55437, Attention: Robert Klein, Chief Financial Officer, or at
such other address for notice as the Assignor shall last have furnished in 

10

 

writing
to the person giving the notice, with a copy to Gander Mountain Company, 4567 80th Street, Bloomington, Minnesota 55437, Attention: Legal Department,; and 

        (b)   if
to the Agent, at Fleet Retail Finance Inc., 40 Broad Street, Boston, Massachusetts 02109, Attention: Sally A. Sheehan, or at such other address for notice as the
Agent shall last have furnished in writing to the person giving the notice, with a copy to Bingham Dana LLP, 150 Federal Street, Boston, Massachusetts 02110, Attention: Robert A.J. Barry, Esq. 

        Any
such notice or demand shall be deemed to have been duly given or made and to have become effective (i) if delivered by hand to a responsible officer of the party to which it is
directed, at the time of the receipt thereof by such officer, (ii) if sent by registered or certified first-class mail, postage prepaid, two (2) Business Days after the posting thereof, and (iii) if
sent by telegraph, telecopy, or telex, at the time of the dispatch thereof, if in normal business hours in the country of receipt, or otherwise at the opening of business on the following Business
Day. 

 
 

18. AMENDMENT AND WAIVER.    
    

        This Trademark Agreement is subject to modification only by a writing signed by the Agent (with the consent of the Majority Lenders) and the Assignor, except as
provided in §6.2 hereof. The Agent shall not be deemed to have waived any right hereunder unless such waiver shall be in writing and signed by the Agent and the Majority Lenders. A waiver
on any one occasion shall not be construed as a bar to or waiver of any right on any future occasion. 

 
 

19. GOVERNING LAW; CONSENT TO JURISDICTION.    
    

        THIS TRADEMARK AGREEMENT IS INTENDED TO TAKE EFFECT AS A SEALED INSTRUMENT AND SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE COMMONWEALTH OF MASSACHUSETTS. The Assignor agrees that any suit for the enforcement of this Trademark Agreement may be brought in the courts of the Commonwealth of
Massachusetts or any federal court sitting therein and consents to the non-exclusive jurisdiction of such court and to service of process in any such suit being made upon the Assignor by mail at the
address specified in §17. The Assignor hereby waives any objection that it may now or hereafter have to the venue of any such suit or any such court or that such suit is brought in an
inconvenient court. 

 
 

20. WAIVER OF JURY TRIAL.    
    

        THE ASSIGNOR WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS
TRADEMARK AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF ANY SUCH RIGHTS OR OBLIGATIONS. Except as prohibited by law, the Assignor waives any right which
it may have to claim or recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual
damages. The Assignor (i) certifies that neither the Agent or any Revolving Credit Lender nor any 

11

 

representative,
agent or attorney of the Agent or any Revolving Credit Lender has represented, expressly or otherwise, that the Agent or any Revolving Credit Lender would not, in the event of
litigation, seek to enforce the foregoing waivers, and (ii) acknowledges that, in entering into the Loan and Security Agreement and the other Loan Documents to which the Agent or any Revolving Credit
Lender is a party, the Agent and the Revolving Credit Lenders are relying upon, among other things, the waivers and certifications contained in this §20. 

 
 

21. MISCELLANEOUS.    
    

        The headings of each section of this Trademark Agreement are for convenience only and shall not define or limit the provisions thereof. This Trademark Agreement
and all rights and obligations hereunder shall be binding upon the Assignor and its respective successors and assigns, and shall inure to the benefit of the Agent, the Revolving Credit Lenders and
their respective successors and assigns. In the event of any irreconcilable conflict between the provisions of this Trademark Agreement and the Loan and Security Agreement, the provisions of the Loan
and Security Agreement shall control. If any term of this Trademark Agreement shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way be affected
thereby, and this Trademark Agreement shall be construed and be enforceable as if such invalid, illegal or unenforceable term had not been included herein. The Assignor acknowledges receipt of a copy
of this Trademark Agreement. 

12

        IN WITNESS WHEREOF, this Trademark Agreement has been executed as of the day and year first above written. 

	 	 	GANDER MOUNTAIN COMPANY
	

 	
 	

By:	
 	

/s/ Dennis M. Lindahl
 Name: Dennis M. Lindahl

Title: Assistant Treasurer
	

 	
 	
FLEET RETAIL FINANCE INC., as Agent
	

 	
 	

By:	
 	

/s/ Sally A. Sheehan
 Name: Sally A. Sheehan

Title: Director

CERTIFICATE OF ACKNOWLEDGMENT  

	COMMONWEALTH OR STATE OF MA	)	 
	 	) ss.	 
	COUNTY OF SUFFOLK	)	 

        Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this 19th day of December, 2001, personally appeared Dennis M. Lindahl to me known personally, and who,
being by me duly sworn, deposes and says that he is the Assistant Treasurer of Gander Mountain Company, and that said instrument was signed and sealed on behalf of said corporation by authority of its
Board of Directors, and said Dennis M. Lindahl acknowledged said instrument to be the free act and deed of said corporation. 

	 	 	/s/ Patricia A. Mallard
 Notary Public

My commission expires: Dec. 17, 2004

QuickLinks

Exhibit 10.7

TRADEMARK COLLATERAL SECURITY AND PLEDGE AGREEMENT

1. DEFINITIONS.

2. GRANT OF SECURITY INTEREST.

3. REPRESENTATIONS, WARRANTIES AND COVENANTS.

4. INSPECTION RIGHTS.

5. NO TRANSFER OR INCONSISTENT AGREEMENTS.

6. AFTER-ACQUIRED TRADEMARKS, ETC.

7. TRADEMARK PROSECUTION.

8. REMEDIES.

9. COLLATERAL PROTECTION.

10. POWER OF ATTORNEY.

11. FURTHER ASSURANCES.

12. TERMINATION.

13. COURSE OF DEALING.

14. EXPENSES.

15. OVERDUE AMOUNTS.

16. NO ASSUMPTION OF LIABILITY; INDEMNIFICATION.

17. NOTICES.

18. AMENDMENT AND WAIVER.

19. GOVERNING LAW; CONSENT TO JURISDICTION.

20. WAIVER OF JURY TRIAL.

21. MISCELLANEOUS.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}]]