SEC Contract Filing

Filing Date: 2024-09-03

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d882665dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August&nbsp;29, 2024 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>VIA EMAIL </U></I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LL Flooring Holdings, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4901 Bakers Mill Lane </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Richmond, VA 23230 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Holly Etlin, Chief Restructuring Officer </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B><U>Amendment to Letter Agreement </U></B> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holly: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to that certain letter
agreement dated August&nbsp;8, 2024 (as supplemented or amended, the &#147;<U>Agreement</U>&#148;) by and between LL Flooring, Inc. (the &#147;<U>Merchant</U>&#148; or a &#147;<U>Party</U>&#148;), on the one hand, and Hilco Merchant Resources, LLC
(&#147;<U>Agent</U>&#148; or a &#147;<U>Party</U>&#148; and together with Merchant, the &#147;<U>Parties</U>&#148;), on the other hand. Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Parties hereby amend the Agreement as follows (the &#147;<U>Amendment</U>&#148;): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As set forth in the Agreement, Agent was engaged to act as the exclusive agent for the purpose of providing certain services in connection
with the disposition of the Merchandise and FF&amp;E located at Merchant&#146;s retail locations reflected on <U>Exhibit A</U> to the Agreement (defined in the Agreement as &#147;Stores&#148;). Agent and Merchant have agreed to supplement <U>Exhibit
A</U> to the Agreement by adding the retail locations reflected on <U>Exhibit 1</U> to this Amendment (each an &#147;<U>Additional Store</U>&#148; and, collectively, the &#147;<U>Additional Stores</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Agent will assist Merchant in disposing of the Merchandise and FF&amp;E at the Additional Stores through the conduct of &#147;Going out of
Business&#148;, &#147;Store Closing&#148;, &#147;Everything Must Go&#148;, &#147;Everything on Sale&#148; or similar themed sales (such sales, the &#147;<U>Supplemental Sale</U>&#148;). The Supplemental Sale will commence on or about
September&nbsp;6, 2024 (the &#147;<U>Supplemental Sale Commencement Date</U>&#148;) and will terminate no later than November&nbsp;30, 2024 (the &#147;<U>Supplemental Sale Termination Date</U>&#148;). The period from the Supplemental Sale
Commencement Date to the Supplemental Sale Termination Date shall be referred to as the &#147;<U>Supplemental Sale Term</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To
control expenses of the Supplemental Sale, Merchant and Agent have established an additional budget (the &#147;<U>Supplemental Budget</U>,&#148; a copy of which is attached hereto as <U>Exhibit 2</U>) of certain delineated expenses, including costs
of supervision, deferred compensation, advertising (including signage and the shipping, freight, and sales tax related thereto where applicable), and other costs. The Supplemental Budget shall be deemed to be the Budget for purposes of the
Supplemental Sale at the Additional Stores. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Both the Agreement and this Amendment shall govern the Supplemental Sale at the Additional
Stores. For purposes of interpreting the Agreement and the Amendment, the following defined terms and exhibits shall be replaced in the Agreement with the corresponding defined terms and exhibits in or attached to this Amendment: </P>
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