SEC Contract Filing

Filing Date: 2015-09-11

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d36699dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>EXECUTION VERSION </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PLAN SPONSOR AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This PLAN SPONSOR AGREEMENT (this &#147;<U>Agreement</U>&#148;) is made and entered into as of September&nbsp;8, 2015, by and among
(i)&nbsp;Quiksilver Inc., on behalf of the Quiksilver Entities<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> and (ii)&nbsp;certain funds managed by affiliates of Oaktree Capital Management, L.P., which funds are signatory hereto
(the&nbsp;&#147;<U>Plan Sponsor</U>&#148;). Each of the Quiksilver Entities and the Plan Sponsor shall be referred to as a &#147;<U>Party</U>&#148; and, collectively, as the &#147;<U>Parties</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Plan Sponsor Term Sheet attached
hereto as <U>Exhibit A</U>, the DIP Agreement attached hereto as<U> Exhibit B</U>, or the Backstop Term Sheet attached hereto as <U>Exhibit C</U>, which term sheets and all annexes thereto are expressly incorporated by reference herein and made a
part of this Agreement as if fully set forth herein (as such term sheets, including all exhibits and annexes thereto, may be amended or modified in accordance with Section&nbsp;6 hereof, collectively the&nbsp;&#147;<U>Term Sheets</U>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>,
the Parties have engaged in arm&#146;s length good faith discussions regarding a restructuring of the Debtors&#146; capital structure on the terms set forth in the Plan Sponsor Term Sheet attached hereto as <U>Exhibit A</U> (the
&#147;<U>Restructuring</U>&#148;), including the Debtors&#146; indebtedness and obligations under: (i)&nbsp;that certain Amended and Restated Credit Agreement, dated as of May&nbsp;24, 2013 as further amended, modified, waived, or supplemented
through the date hereof (as amended, the &#147;<U>ABL Credit Facility</U>&#148;), by and among certain of the Debtors as borrowers or guarantors, Bank of America, N.A. as administrative agent (the &#147;<U>ABL Agent</U>&#148;), and the various
lenders from time to time party thereto; (ii)&nbsp;that certain Indenture, dated as of July&nbsp;16, 2013, providing for the issuance of 7.875% Senior Secured Notes due 2018 (as further amended, modified, waived, or supplemented through the date
hereof, the &#147;<U>Secured Notes Indenture</U>,&#148; such notes issued under such Secured Notes Indenture, the &#147;<U>Secured Notes</U>,&#148; and such holders of such Secured Notes, the &#147;<U>Secured Noteholders</U>&#148;), by and among
certain of the Debtors as issuers or guarantors and Wells Fargo Bank, N.A. as trustee and collateral agent for the Secured Notes Indenture (the &#147;<U>Secured Notes Agent</U>&#148;); (iii)&nbsp;that certain Indenture, dated as of July&nbsp;16,
2013, providing for the issuance of 10.00% Senior Notes due 2020 (as further amended, modified, waived, or supplemented through the date hereof, the &#147;<U>Unsecured Notes Indenture</U>,&#148; such notes issued under such Unsecured Notes
Indenture, the &#147;<U>Unsecured Notes</U>,&#148; and such holders of such Unsecured Notes, the &#147;<U>Unsecured Noteholders</U>&#148;), by and among certain of the Debtors as issuers or guarantors and Wells Fargo Bank, N.A. as trustee; and
(iv)&nbsp;that certain Indenture, dated as of December&nbsp;10, 2010, providing for the issuance of 8.875% Senior Notes due 2017 (as further amended, modified, waived, or supplemented through the date hereof, the&nbsp;&#147;<U>Euro Notes
Indenture</U>,&#148; such notes issued under such Euro Notes Indenture, the &#147;<U>Euro Notes</U>,&#148; and such </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">The &#147;<U>Debtors</U>&#148; are Quiksilver, Inc. (&#147;<U>Quiksilver Parent</U>&#148;), and each of its domestic direct and indirect subsidiaries,
including QS Wholesale, Inc., QS Optics, Inc., Quiksilver Wetsuits, Inc., Mt. Waimea, Inc., Quiksilver Entertainment, Inc., DC Shoes, Inc., DC Direct, Inc., Fidra, Inc., Hawk Designs, Inc., QS Retail, Inc. For the avoidance of doubt, all direct and
indirect foreign subsidiaries of Quiksilver Parent (collectively, the &#147;<U>Non-Debtor Foreign Subsidiaries</U>&#148;) shall not be debtors in the Chapter 11 Cases. The Debtors and the Non-Debtor Foreign Subsidiaries shall be referred to herein
collectively as the &#147;<U>Quiksilver Entities</U>.&#148; </P></TD></TR></TABLE>

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