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<SEC-DOCUMENT>0000910680-09-000103.txt : 20090310
<SEC-HEADER>0000910680-09-000103.hdr.sgml : 20090310
<ACCEPTANCE-DATETIME>20090310114850
ACCESSION NUMBER:		0000910680-09-000103
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090306
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090310
DATE AS OF CHANGE:		20090310

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIFETIME BRANDS, INC
		CENTRAL INDEX KEY:			0000874396
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				112682486
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1207

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19254
		FILM NUMBER:		09668323

	BUSINESS ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530
		BUSINESS PHONE:		5166836000

	MAIL ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		STREET 2:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIFETIME HOAN CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k030609.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
    <head>
        <title></title>
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    <body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p>&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 11pt">UNITED STATES</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 11pt">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; FONT-SIZE: 14pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif" align="center"><b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">Washington, D.C. 20549</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; FONT-SIZE: 12pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif" align="center"><b><font style="FONT-SIZE: 16pt; FONT-FAMILY: 'Times New Roman', Times, serif">FORM 8-K</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 11pt; TEXT-TRANSFORM: uppercase">CURRENT REPORT<br>
        &nbsp;</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 11pt">Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 11pt">Date of report</font> <font style="FONT-SIZE: 9pt">(Date of earliest event reported)</font><font style="FONT-SIZE: 11pt">: </font><b>March 6</b><b>, 200</b><b>9</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 18pt">Lifetime Brands, Inc.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 9pt">(Exact Name of Registrant as Specified in Its Charter)</font></p>

        <p></p>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; FONT-SIZE: 14pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif" align="center"><b><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif">Delaware</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 9pt">(State or Other Jurisdiction</font> <font style="FONT-SIZE: 9pt">of Incorporation)</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>

        <table cellspacing="0" cellpadding="0" width="600" align="center" border="0">
            <tr>
                <td align="center" width="300"><strong>0-19254<br>
                </strong><font size="2">(Commission File Number)</font></td>

                <td align="center" width="300"><strong>11-2682486<br>
                </strong><font size="2">&nbsp;(IRS Employer Identification No.)</font></td>
            </tr>
        </table>
        <b><font style="FONT-SIZE: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><br>
        <br>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">1000 Stewart Avenue, Garden City, New York, 11530</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 9pt">(Address of Principal Executive Offices)(Zip Code)</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 9pt">(Registrant&rsquo;s Telephone Number, Including Area Code)</font> <b><font style="FONT-SIZE: 11pt">516-683-6000</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; FONT-SIZE: 14pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif" align="center"><b><font style="FONT-WEIGHT: normal; FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif">(Former Name or Former Address, if Changed Since Last Report)</font> <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">N/A</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><i><font style="FONT-SIZE: 11pt">see </font></i><font style="FONT-SIZE: 11pt">General Instruction A.2. below):</font></p>

        <p style="MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif" align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" align="center" width="50"><font face="Wingdings">o</font></td>

                <td style="PADDING-BOTTOM: 12pt" valign="top" width="934">
                    <p>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" align="center" width="50"><font face="Wingdings">o</font></td>

                <td style="PADDING-BOTTOM: 12pt" valign="top" width="934">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td>
            </tr>

            <tr>
                <td valign="top" align="center" width="50"><font face="Wingdings">o</font></td>

                <td style="PADDING-BOTTOM: 12pt" valign="top" width="934">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</td>
            </tr>

            <tr>
                <td valign="top" align="center" width="50"><font face="Wingdings">o</font></td>

                <td valign="top" width="934">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 11pt">&nbsp;&nbsp;&nbsp;</font></p>

        <p></p>

        <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'Times New Roman', Times, serif" align="justify"><b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">Item 1.01. Entry into a Material Definitive Agreement.</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 11pt">On March 6, 2009, Lifetime Brands, Inc.</font> <font style="FONT-SIZE: 11pt">(the &ldquo;Company&rdquo;)</font> <font style="FONT-SIZE: 11pt">entered into an amendment to the forbearance agreement and amendment to its credit agreement dated February 12, 2009, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by
        reference. The Company is working with its lenders to further amend the credit agreement. &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 11pt">Item&nbsp;2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</font></b></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 18pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">The disclosure contained in &ldquo;Item&nbsp;1.01. &mdash; Entry into a Material Definitive Agreement&rdquo; of this Current Report on Form 8-K is hereby incorporated by reference into this Item&nbsp;2.03.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 11pt">Item 9.01. Financial Statements and Exhibits<br>
        </font></b></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" align="center" width="50">(d)&nbsp;</td>

                <td colspan="2">
                    <p style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 11pt">Exhibits</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" align="center" width="50">
                </td>

                <td width="934" colspan="2">
                </td>
            </tr>

            <tr>
                <td valign="top" align="center" width="50">
                </td>

                <td valign="top" width="49">
                    <p align="left"><font style="FONT-SIZE: 11pt">99.1</font></p>
                </td>

                <td valign="top" width="886"><a href="ex99-1_f8k030609.htm">Amendment to Forbearance Agreement and Amendment No. 4, dated as of March 6, 2009, by and among Lifetime Brands, Inc., the several financial institutions party hereto and HSBC Bank USA, National Association, as Administrative Agent for the Lenders.</a></td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>
        <br>
        <br>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 11pt">Signature</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="376">
                </td>

                <td style="MARGIN-BOTTOM: 18pt" colspan="2">
                    <p>Lifetime Brands, Inc.</p>

                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td width="376">
                </td>

                <td width="609" colspan="2">
                </td>
            </tr>

            <tr>
                <td width="376">
                </td>

                <td valign="top" width="55">By:</td>

                <td width="554">&nbsp;<u><font style="FONT-SIZE: 11pt">/s/ Laurence Winoker</font></u><font style="FONT-SIZE: 11pt">______<br>
                Senior Vice President &ndash; Finance, Treasurer and Chief Financial Officer<br>
                </font></td>
            </tr>

            <tr>
                <td width="376">
                </td>

                <td width="609" colspan="2">
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="left">&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 11pt">Date: March 10, 2009</font></p>

        <p></p>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-1_f8k030609.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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        <p>&nbsp;</p>

        <p></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><b><a name="ex99f8k030609"><font style="FONT-SIZE: 12pt"><b><font style="FONT-SIZE: 12pt">Exhibit 99.1</font></b></font></a></b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 12pt">AMENDMENT<br>
        TO<br>
        FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
        TO<br>
        </font></b><b><font style="FONT-SIZE: 12pt">SECOND AMENDED AND RESTATED CREDIT AGREEMENT</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify"><b><font style="FONT-SIZE: 12pt">AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 </font></b><font style="FONT-SIZE: 12pt">(this &ldquo;</font><i><font style="FONT-SIZE: 12pt">Amendment</font></i><font style="FONT-SIZE: 12pt">&rdquo;), dated as of March 6, 2009, by and among </font><b><font style="FONT-SIZE: 12pt">LIFETIME BRANDS, INC.</font></b><font style="FONT-SIZE: 12pt">, (the
        &ldquo;</font><i><font style="FONT-SIZE: 12pt">Borrower</font></i><font style="FONT-SIZE: 12pt">&rdquo;), the several financial institutions party hereto and </font><b><font style="FONT-SIZE: 12pt">HSBC BANK USA, NATIONAL ASSOCIATION</font></b><font style="FONT-SIZE: 12pt">, as Administrative Agent for the Lenders.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><u><font style="FONT-SIZE: 12pt">RECITALS<br>
        <br>
        </font></u></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower, the Lenders, Citibank, N.A. and Wachovia Bank, National Association, as Co-Documentation Agents, JPMorgan Chase Bank, N.A., as Syndication Agent, and the Administrative Agent are parties to the Second Amended and Restated Credit Agreement, dated as of October
        31, 2006 (as it may be amended, restated, supplemented or otherwise modified from time to time, the &ldquo;</font><i><font style="FONT-SIZE: 12pt">Credit Agreement</font></i><font style="FONT-SIZE: 12pt">&rdquo;). Unless otherwise defined herein, all capitalized terms used herein or in the Acknowledgement and Consent annexed hereto shall have the meanings ascribed to them in the Credit Agreement.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower has advised the Administrative Agent and the Lenders that it was not, as at December 31, 2008, in compliance with the provisions of Sections 7.13, 7.15 and 7.18 of the Credit Agreement (the &ldquo;</font><i><font style="FONT-SIZE: 12pt">Subject Events of
        Default</font></i> <font style="FONT-SIZE: 12pt">&rdquo;).</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in" align="justify">C.&nbsp;&nbsp;&nbsp;&nbsp; In connection with the Subject Events of Default, the Borrower, the Required Lenders and the Administrative Agent entered into Forbearance Agreement and Amendment No. 4 to Second Amended and Restated Credit Agreement, dated as of February 12, 2009 (the &ldquo;<i><font style="FONT-SIZE: 12pt">Forbearance
        Agreement</font></i><font style="FONT-SIZE: 12pt">&rdquo;), pursuant to which (1) the Administrative Agent and the Required Lenders agreed, during the Forbearance Period, to forbear from (a) declaring the Obligations, all interest thereon and all other amounts payable under the Loan Documents to be due and payable as a result of the occurrence of the Subject Events of Default and (b)&nbsp;(i) terminating any obligation of the Lenders to make Loans and any obligation of the Issuer to
        issue Letters of Credit, or (ii) demanding that the Borrower pay to the Administrative Agent an amount equal to the Letter of Credit Exposure outstanding on the Forbearance Effective Date, as a result of the occurrence of the Subject Events of Default and (c)&nbsp;instituting any judicial or non-judicial action or proceeding to enforce or obtain payment of the Obligations or to enforce the Administrative Agent&rsquo;s security interests as a result of the Subject Events of Default and
        (2) the Credit Agreement was amended and modified in certain respects.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in" align="justify">D.&nbsp;&nbsp;&nbsp; The Borrower has requested that the Administrative Agent and the Required Lenders extend the Forbearance Period to March 31, 2009.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Administrative Agent has advised the Borrower that the Required Lenders are willing to agree to its request on the terms and subject to the conditions set forth in this Amendment.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 12pt">Accordingly, in consideration of the foregoing, the parties hereto hereby agree as follows:</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font style="FONT-SIZE: 12pt">Acknowledgments</font></u><font style="FONT-SIZE: 12pt">.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower hereby acknowledges, confirms and declares that, as of the date hereof, all amounts due to the Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents without any acceleration of amounts are unconditionally due and owing,
        without any setoff, deduction, counterclaim, or defense of any kind or nature to the payment thereof.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower and each of the Guarantors, by its execution of the Acknowledgment and Consent annexed hereto, acknowledges that the agreement of the Administrative Agent and the Lenders to forbear contained in the Forbearance Agreement (as modified hereby) does not (i) except
        as expressly set forth in Section 4 of the Forbearance Agreement, constitute a waiver of the Subject Events of Default, (ii)&nbsp;constitute a waiver of any other Event of Default that may have occurred, <a name="OLE_LINK5"></a><a name="OLE_LINK6">that</a> currently exists or that may hereafter occur under the Credit Agreement or any other Loan Document, and (iii)&nbsp;except as expressly set forth in Section 2 hereof, constitute an amendment or modification of any term, covenant or
        condition of the Forbearance Agreement, the Credit Agreement or any other Loan Document.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp; The Borrower acknowledges that (i) as a result of the Subject Events of Default and, notwithstanding the agreement of the Administrative Agent and the Required Lenders to extend the Forbearance Period pursuant hereto, but for the agreements of the parties set forth in the Forbearance Agreement, the Lenders would be under no obligation to continue to make
        <a name="OLE_LINK29"></a><a name="OLE_LINK30">Loans or otherwise make available Extensions of Credit to or for the account of the Borrower</a> and (ii)&nbsp; notwithstanding the Subject Events of Default, the election of the Lenders to continue to make Loans and issue Letters of Credit under the Credit Agreement during the Forbearance Period on and the terms and conditions set forth herein shall not (A)&nbsp;constitute a waiver of the Subject Events of Default or any future Events of
        Default, (B)&nbsp;constitute an agreement or commitment by any Lender to continue to make Loans or otherwise make available Extensions of Credit (including, without limitation, Letters of Credit) in the event that any other Events of Default occur hereafter or (C)&nbsp;constitute an agreement or commitment by any Lender to continue to make Loans or otherwise make available Extensions of Credit (including, without limitation, Letters of Credit) on or after the Forbearance Termination
        Date.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp; The Borrower and each of the Guarantors, by its execution of the Acknowledgment and Consent annexed hereto, acknowledges that: (i) it has been advised by counsel in the negotiation, execution and delivery of this Amendment; and (ii)&nbsp;neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower or the
        Guarantors arising out of or in connection with the Credit Agreement, the other Loan Documents or this Amendment, and the relationship between the Administrative Agent and the Lenders, on the one hand, and the Borrower and the Guarantors, on the other, in connection herewith and therewith is solely that of creditor and debtor.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font style="FONT-SIZE: 12pt">Amendments to the Forbearance Agreement</font></u><font style="FONT-SIZE: 12pt">.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><i><font style="FONT-SIZE: 12pt">Forbearance Termination Date</font></i><font style="FONT-SIZE: 12pt">. Section 1 of the Forbearance Agreement is hereby amended by deleting the reference to &ldquo;March 6, 2009&rdquo; in clause (ii) of the definition of
        &ldquo;</font><i><font style="FONT-SIZE: 12pt">Forbearance Termination Date</font></i> <font style="FONT-SIZE: 12pt">&rdquo; and substituting therefor &ldquo;March 31, 2009&rdquo;.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 72px">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM">- 2 -</a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-SIZE: 12pt">(b)<font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><em>Extensions of Credit</em>. Section 5(a) of the Forbearance Agreement is hereby amended by deleting the table set forth therein in its entirety and substituting the following therefor:</font></p>

        <p></p>

        <table style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; MARGIN-LEFT: 0.7in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" cellspacing="0" cellpadding="0" width="600" align="center" border="0">
            <tr>
                <td style="BORDER-RIGHT: #000000 1pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: #000000 1pt solid" valign="bottom" width="264">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><u><font style="FONT-SIZE: 12pt">Week</font></u></b></p>
                </td>

                <td style="BORDER-RIGHT: #000000 1pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: #000000 1pt solid" valign="top" width="222">
                    <p style="MARGIN: 0pt 0.4in 0pt 0.3in" align="center"><b><font style="FONT-SIZE: 12pt">Aggregate Principal Amount of Outstanding<br>
                    </font></b><b><u><font style="FONT-SIZE: 12pt">Extensions of Credit</font></u></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: #000000 1pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: #000000 1pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing February 9, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$85,881,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing February 16, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$90,343,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing February 23, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$92,260,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing March 2, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$92,260,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing March 9, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$94,110,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing March 16, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$91,966,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing March 23, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$92,817,000.00</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="264">
                    <p style="MARGIN-TOP: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 12pt">Week commencing March 30, 2009</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="222">
                    <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 12pt">$90,082,000.00</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><i><font style="FONT-SIZE: 12pt">General</font></i><font style="FONT-SIZE: 12pt">. All references to &ldquo;</font><i><font style="FONT-SIZE: 12pt">this Agreement</font></i><font style="FONT-SIZE: 12pt">&rdquo; in the Forbearance Agreement shall be deemed to refer to the Forbearance Agreement as amended
        and supplemented hereby.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font style="FONT-SIZE: 12pt">Conditions to Effectiveness</font></u><font style="FONT-SIZE: 12pt">. This Amendment shall be effective upon the satisfaction of each of the following conditions:</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Administrative Agent shall have received an executed counterpart of this Amendment signed by the Borrower, the Required Lenders and the Administrative Agent.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Administrative Agent shall have received an executed counterpart of the acknowledgement and consent annexed hereto duly executed by each of the Guarantors.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The representations and warranties contained in the Credit Agreement shall be true and correct in all material respects (except to the extent such representations and warranties specifically relate to an earlier date) and, after giving effect to the amendments set forth in
        Section 2 hereof, no Default or Event of Default shall exist.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the effective date of this Amendment, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the
        Borrower hereunder.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrower shall have paid the reasonable fees and disbursements of counsel to the Administrative Agent and the Lenders in connection with this Amendment.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM">- 3 -</a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt" align="justify">The Administrative Agent shall notify the Borrower and the Credit Parties of the effective date of this Amendment, and such notice shall be conclusive and binding.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in" align="justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Borrower hereby represents and warrants to the Administrative Agent and the Lenders that:</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The representations and warranties set forth in the Loan Documents (other than the representations and warranties made as of a specific date) are true and correct in all material respects as of the date hereof and with the same effect as though made on
        and as of the date hereof.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">After giving effect to the amendments set forth in Section 2 hereof, other than the Subject Events of Default, no Default or Event of Default and no event or condition which, with the giving of notice or lapse of time or both, would constitute such a Default or Event of
        Default, now exists or would exist.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in" align="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp; The execution, delivery and performance by the Borrower of this Amendment is within its organizational powers and have been duly authorized by all necessary action (corporate or otherwise) on the part of the Borrower, (ii) this Amendment is the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance
        with its terms, and (iii) neither this Amendment nor the execution, delivery and performance by the Borrower hereof: (A) contravenes the terms of the Borrower &rsquo;s organization documents, (B) conflicts with or results in any breach or contravention of, or the creation of any Lien under, any document evidencing any contractual obligation to which the Borrower is a party or any order, injunction, writ or decree to which the Borrower or its property is subject, or (C) violates any
        requirement of law.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font style="FONT-SIZE: 12pt">Effect; No Waiver</font></u><font style="FONT-SIZE: 12pt">. </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower hereby (i) reaffirms and admits the validity and enforceability of the Loan Documents and all of its obligations thereunder and (ii) agrees and admits that it has no defenses to or offsets against any such obligation. Except as specifically set forth
        herein, the Credit Agreement and the other Loan Documents shall remain in full force and effect in accordance with their terms and are hereby ratified and confirmed. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any existing or future Default or Event of Default, whether known or unknown or any right, power or remedy of the Administrative Agent or the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit
        Agreement, except as specifically set forth herein.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt; COLOR: #000000">The Borrower hereby (i) reaffirms all of its agreements and obligations under the Security Documents, (ii) reaffirms that all Obligations of the Borrower under or in connection with the Credit Agreement as amended hereby are
        &ldquo;</font><i><font style="FONT-SIZE: 12pt; COLOR: #000000">Obligations</font></i> <font style="FONT-SIZE: 12pt; COLOR: #000000">&rdquo; as that term is defined in the Security Documents and (iii) reaffirms that all such Obligations continue to be secured by the Security Documents, which remains in full force and effect and is hereby ratified and confirmed.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM">- 4 -</a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font style="FONT-SIZE: 12pt">Miscellaneous</font></u><font style="FONT-SIZE: 12pt">.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">The Borrower shall pay the Administrative Agent upon demand for all reasonable expenses, including reasonable attorneys&rsquo; fees and expenses of the Administrative Agent, incurred by the Administrative Agent in connection with the preparation, negotiation and
        execution of this Amendment.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 12pt">THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICTS OF LAW PROVISIONS, BUT INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK) AND DECISIONS OF THE STATE OF NEW
        YORK.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment shall be binding upon the Borrower, the Administrative Agent and the Lenders and their respective successors and assigns, and shall inure to the benefit of the Borrower, the Administrative Agent and the Lenders and the respective successors and assigns of the Administrative Agent and the Lenders.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.8in; TEXT-ALIGN: justify">&nbsp;</p>

        <p align="center"><font style="FONT-SIZE: 12pt">[</font><i><font style="FONT-SIZE: 12pt">Signature pages follow</font></i><font style="FONT-SIZE: 12pt">.]</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM">- 5 -</a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p></p>

        <p></p>

        <p></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify" align="justify"><font style="FONT-SIZE: 12pt">AS EVIDENCE of the agreement by the parties hereto to the terms and conditions herein contained, each such party has caused this Amendment to be executed on its behalf.</font></p>

        <p align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt">LIFETIME BRANDS, INC.</font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">&nbsp;&nbsp; Senior Vice President and Chief</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="justify">&nbsp;</p>

        <p></p>

        <p style="MARGIN: 0pt 1in 0pt 2.8in" align="center">&nbsp;</p>

        <p></p>

        <p></p>

        <p></p>
        <!-- PAGE BREAK  -->

        <div title="PAGENUM" align="center">
            <table cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td width="100%">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">LIFETIME BRANDS AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
                        SIGNATURE PAGE</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"></a>&nbsp;
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr>
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="left">&nbsp;</p>

        <p align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt"><font size="3">HSBC BANK USA, NATIONAL ASSOCIATION,<br>
                    as Administrative Agent, Issuer and Lender</font><br>
                    </font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: <font style="FONT-SIZE: 12pt"><font size="3"><u>/s/&nbsp;Christopher Mendelsohn</u> </font></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p align="left">Name: <u>Christopher J. Mendelsohn</u><br>
                    Title:&nbsp;&nbsp;&nbsp; <u>Senior Vice President</u></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p align="left">&nbsp;</p>

        <p align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="100%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">LIFETIME BRANDS AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
                    SIGNATURE PAGE</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="left">&nbsp;</p>

        <p></p>

        <p></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr>
        </div>

        <p align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt">JPMORGAN CHASE BANK, N.A.,<br>
                    as Syndication Agent and Lender<br>
                    </font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: <font style="FONT-SIZE: 12pt"><u>/s/ Barbara G. Bertschi</u></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font face="Times New Roman, Times, serif"><font color="#000000">Name: <u>Barbara G. Bertschi</u><br>
                    Title:&nbsp;&nbsp;&nbsp; <u>Senior Vice President</u></font></font></p>
                </td>
            </tr>
        </table>

        <p><br>
        &nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="100%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">LIFETIME BRANDS AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
                    SIGNATURE PAGE</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2.5in" align="justify">&nbsp;</p>

        <p></p>

        <p></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr>
        </div>

        <p align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt"><font size="3">CITIBANK, N.A., as Co-Documentation Agent and Lender</font><br>
                    </font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: ______________________</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Name:&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> &nbsp;<br>
                    Title:&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
                </td>
            </tr>
        </table>

        <p><br>
        &nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="100%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">LIFETIME BRANDS AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
                    SIGNATURE PAGE</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p><br>
        &nbsp;</p>

        <p style="FONT-SIZE: 12pt; MARGIN: 0pt 0.5in 24pt 2.5in" align="left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr>
        </div>

        <p align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt"><font size="3">WACHOVIA BANK, NATIONAL ASSOCIATION, as<br>
                    Co-Documentation Agent and Lender</font><br>
                    </font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: <u>/s/ Edward Nallan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p align="left">Name:&nbsp;<u>Edward P. Nallan, Jr.</u><br>
                    Title:&nbsp;&nbsp;&nbsp; <u>Senior Vice President</u></p>
                </td>
            </tr>
        </table>

        <p><br>
        &nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="100%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">LIFETIME BRANDS AMENDMENT TO FORBEARANCE AGREEMENT AND AMENDMENT NO. 4 <br>
                    SIGNATURE PAGE</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p><br>
        &nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr>
        </div>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 12pt">ACKNOWLEDGEMENT AND CONSENT</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify" align="justify"><font style="FONT-SIZE: 12pt">Each of the undersigned Guarantors hereby (1) consents to the execution and delivery by the Borrower of the foregoing Amendment; (2) confirms and agrees that it is a Guarantor party to the Guarantee Agreement and a Grantor party to the Security Agreement and that the Guarantee Agreement, the Security Agreement and the other Loan
        Documents to which it is a party are, and shall continue to be, in full force and effect in accordance with their respective terms, (3)&nbsp;agrees that the definition of &ldquo;</font><i><font style="FONT-SIZE: 12pt">Obligations</font></i><font style="FONT-SIZE: 12pt">&rdquo; (and any other term referring to the indebtedness, liabilities and obligations of the Borrower to the Administrative Agent or any of the Lenders) in the Guarantee Agreement and the other Loan Documents shall
        include the Indebtedness of the Borrower under the foregoing Amendment; (4) agrees that the definition of &ldquo;</font><i><font style="FONT-SIZE: 12pt">Credit Agreement</font></i><font style="FONT-SIZE: 12pt">&rdquo; in the Guarantee Agreement and the other Loan Documents to which it is a party is hereby amended to mean the Credit Agreement as modified by the foregoing Amendment; (5)&nbsp;reaffirms its continuing liability under its Guarantee Agreement (as modified hereby);
        (6)&nbsp;reaffirms all of its agreements and obligations under the Security Documents; (7)&nbsp;reaffirms that all Obligations of the Borrower under or in connection with the Credit Agreement as modified by the foregoing Amendment are &ldquo;</font><i><font style="FONT-SIZE: 12pt">Obligations</font></i><font style="FONT-SIZE: 12pt">&rdquo; as that term is defined in the Security Documents; and (8)&nbsp;reaffirms that all such Obligations continue to be secured by the Security Documents,
        which remain in full force and effect and are hereby ratified and confirmed. </font></p>

        <p align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif"><strong>OUTLET RETAIL STORES, INC.</strong></font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp; Senior Vice President and Chief</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td style="PADDING-BOTTOM: 18pt" width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt"><font face="Times New Roman, Times, serif"><strong>PFALTZGRAFF FACTORY STORES, INC.</strong><br>
                    </font></font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp; Senior Vice President and Chief</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td style="PADDING-BOTTOM: 18pt" width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif"><strong>SYRATECH ACQUISITION CORPORATION</strong></font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp; Senior Vice President and Chief</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td style="PADDING-BOTTOM: 18pt" width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>
        <br>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif"><strong>LTB DE MEXICO, S.A. DE C.V.</strong></font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568"><font face="Times New Roman, Times, serif">&nbsp;&nbsp; Senior Vice President and Chief</font></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td style="PADDING-BOTTOM: 18pt" width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>

        <p>&nbsp;</p>

        <p>&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" noshade>
        </div>

        <p>&nbsp;</p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="417">
                    <p>&nbsp;</p>

                    <p>&nbsp;</p>
                </td>

                <td width="568">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 24pt" align="justify"><font style="FONT-SIZE: 12pt"><strong>TMC ACQUISITION INC.</strong></font></p>
                </td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">By: <u><font style="FONT-SIZE: 12pt">/s/ Laurence Winoker&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurence Winoker</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">&nbsp;&nbsp; Senior Vice President and Chief</td>
            </tr>

            <tr>
                <td width="417">
                </td>

                <td width="568">
                    <p align="left"><font style="FONT-SIZE: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Officer</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p>&nbsp;</p>

        <p>&nbsp;</p>

        <p><br>
        </p>

        <p></p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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