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<ACCESSION-NUMBER>0001437749-11-006474
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20110824
<ITEMS>1.01
<ITEMS>2.01
<ITEMS>3.02
<ITEMS>5.02
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20110830
<DATE-OF-FILING-DATE-CHANGE>20110830
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>HAMPSHIRE GROUP LTD
<CIK>0000887150
<ASSIGNED-SIC>2253
<IRS-NUMBER>060967107
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-20201
<FILM-NUMBER>111065665
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1924 PEARMAN DAIRY ROAD
<STREET2>PO BOX 2667
<CITY>ANDERSON
<STATE>SC
<ZIP>29625
<PHONE>8642311200
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<STREET1>1924 PEARMAN DAIRY ROAD
<STREET2>PO BOX 2667
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>hampshire_8k-082411.htm
<DESCRIPTION>CURRENT REPORT
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (Date of earliest event reported): <font style="DISPLAY: inline; FONT-WEIGHT: bold">August 24, 2011</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 25, 2011, Hampshire Group, Limited, a Delaware corporation (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), RG Merger Sub S.A., a Honduran <font style="DISPLAY: inline; FONT-STYLE: italic">sociedad anonima</font> and an indirect wholly owned subsidiary of the Company (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Merger Sub</font>&#8221;), Rio Garment S. de R.L., a Honduran limited liability company (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Rio</font>&#8221;) and BGY II, LLC (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Equityholders&#8217; Representative</font>&#8221;) entered into Amendment No. 2 to the Agreement and Plan of Merger (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment No. 2</font>&#8221;), dated as of June 13, 2011, by and among the Company, Merger Sub, Rio, the equityholders of Rio listed on Schedule 1 thereto (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Equityholders</font>&#8221;) and the Equityholders&#8217; Representative, as amended (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Merger Agreement</font>&#8221;).&#160;&#160;&#160;As described in Item 2.01 of this Current Report on Form&#160;8-K, the closing of the transactions contemplated by the Merger Agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Closing</font>&#8221;) occurred on August 25, 2011, and pursuant to the Merger Agreement Rio merged with and into Merger Sub (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Surviving Corporation</font>&#8221;) and the separate corporate existence of Rio ceased (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Merger</font>&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment No. 2 provides, among other things, that the aggregate merger consideration paid to the Equityholders would include any working capital at Closing in excess of target working capital and that the amount to be contributed to Rio by the Company at Closing for the payment of certain trade payables is reduced from $2.0 million to $1.85 million.&#160;&#160;Amendment No. 2 also amends certain other closing and post-closing payment mechanics, including the timing of any payment (or related disbursement of escrow amounts) to the Equityholders in connection with any post-closing purchase price adjustment in respect of net working capital, Rio&#8217;s indebtedness and Rio&#8217;s transaction expenses, each as of Closing (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Initial Adjustment</font>&#8221;).&#160;&#160;Amendment No. 2 also expands the scope of certain tax indemnities to be provided by the Equityholders and provides that the amounts escrowed in respect of the Initial Adjustment may be applied toward any claims by the Company in respect of such indemnification.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The description of Amendment No. 2 contained herein is qualified in its entirety by reference to the complete text of Amendment No. 2, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to the Credit Agreement and Consent with Wells Fargo Capital Finance</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As previously disclosed, on August 15, 2011, the Company entered into the First Amendment to Credit Agreement and Consent (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment and Consent</font>&#8221;) by and among the Company, Hampshire Brands, Inc. (formerly known as Hampshire Designers, Inc., &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Hampshire Brands</font>&#8221;), Hampshire Sub II, Inc. (formerly known as Item-Eyes, Inc., &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Hampshire Sub II</font>&#8221;), Scott James, LLC (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Scott James</font>&#8221;; and together with Hampshire Brands and Hampshire Sub II, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Original Borrowers</font>&#8221;); Hampshire International, LLC (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Hampshire International</font>&#8221;; and together with the Original Borrowers, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Borrowers</font>&#8221;), Wells Fargo Capital Finance, LLC, as agent and a lender&#160;(&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">WFCF</font>&#8221;), and the other financial institutions named therein as lenders (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Lenders</font>&#8221;).&#160; The Amendment and Consent amended the Company&#8217;s current credit agreement, dated as of October 28, 2010, by and among the Company, the Original Borrowers, WFCF and the Lenders (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Credit Facility</font>&#8221;).&#160; Hampshire International &#160;became a Borrower under the Credit Facility on August 9, 2011.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the Amendment and Consent, upon consummation of the Merger and satisfaction of certain other conditions on August 25, 2011, the Credit Facility was amended to permit, among other things, the following activities if conducted in accordance with the terms of the amended Credit Facility, (i) the financing of the operations of Merger Sub, as the surviving corporation, by means of loans, advances or other cash investments, (ii) the purchase of accounts receivable originated by Merger Sub and inclusion of such purchased receivables in the calculation of the borrowing base under the Credit Facility and (iii) certain transactions with affiliates.&#160; The Credit Facility was also amended to permit the existence of certain indebtedness and liens on the property of Merger Sub (as successor to Rio) that were not paid in full or terminated and released in connection with the Merger.&#160;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM 2.01. Completion of Acquisition or Disposition of Assets.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 25, 2011, pursuant to the Merger Agreement, as amended, the Company completed its acquisition of Rio for an aggregate purchase price of $22.9 million.&#160;&#160;Pursuant to the Merger Agreement, Rio merged with and into Merger Sub, the separate corporate existence of Rio ceased and the Surviving Corporation became an indirect wholly owned subsidiary of the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon Closing, pursuant to the Merger Agreement, as amended, the Company (x) paid to the Equityholders&#8217; Representative, on behalf of the Equityholders, a total of $7.0 million in cash, $3.5 million of which was deposited into an escrow account pending the Initial Adjustment and for certain potential indemnification claims, (y) issued to the Equityholders&#8217; Representative, on behalf of the Equityholders, an aggregate of $3.5 million in Hampshire common stock, par value, $0.10 (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Hampshire Common Stock</font>&#8221;) (967,009 shares valued at a 90-day volume-weighted average price per share) and held back an additional $6.5 million of Hampshire Common Stock (1,781,798 shares) for a post-closing adjustment in respect of any shortfall between actual 2011 EBITDA and 2011 EBITDA as estimated at Closing and for potential indemnification claims and (z) repaid in cash certain liabilities of the Company totaling approximately $5.9 million.&#160;&#160;The Company financed the cash portion of the acquisition with cash-on-hand.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The disclosure set forth in Item 2.01 of this Current Report on Form&#160;8-K is incorporated herein by reference into this Item 3.02.&#160;&#160;The issuance of the shares of Hampshire Common Stock pursuant to the Merger Agreement is exempt from the registration requirements under the Securities Act of 1933, as amended (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Act</font>&#8221;), pursuant to Section&#160;4(2)&#160;of the Act as a transaction by an issuer not involving a public offering.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Resignation of Janice Page from the Board; Appointment of Paul Buxbaum and Benjamin Yogel to the Board</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Merger Agreement contemplates that, as a condition to the consummation of the Merger, one current director would resign from, and two designees of the Equityholders would be appointed to, the Board of Directors of the Company (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Board</font>&#8221;).&#160;&#160;As previously disclosed, at Closing, the Company and the Equityholders entered into a stockholder rights agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Stockholder Rights Agreement</font>&#8221;) pursuant to which the Equityholders have the right to designate two members to the Board.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In furtherance of the foregoing, on August 24, 2011, Janice Page resigned as a member of the Board (and any committees thereof), effective upon the Closing.&#160;&#160;Ms. Page was a member of each of the Audit Committee, the Compensation Committee and the Nominating Committee of the Board. In addition, pursuant to the Merger Agreement and the Stockholder Rights Agreement, on August 25, 2011, the size of the Board was set at seven directors, and the Board appointed each of Paul Buxbaum and Benjamin Yogel (each an Equityholder) to serve as a member of the Board until the next annual election or until his successor is elected and qualified or until his death, resignation or removal.&#160;&#160;The Company will disclose information with respect to committee appointments of Mr. Buxbaum or Mr. Yogel when any such appointments are determined.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As described above in Item 2.01 of this Current Report on Form 8-K, in connection with the Merger, at Closing, the Company (x) paid to the Equityholders&#8217; Representative, on behalf of the Equityholders, a total of $7.0 million in cash, $3.5 million of which was deposited into an escrow account pending the Initial Adjustment and for certain potential indemnification claims and (y) issued to the Equityholders&#8217; Representative, on behalf of the Equityholders, an aggregate of $3.5 million of Hampshire Common Stock (967,009 shares valued at a 90-day volume-weighted average price per share) and held back an additional $6.5 million of Hampshire Common Stock (1,781,798 shares) for a post-closing adjustment in respect of any shortfall between actual 2011 EBITDA and 2011 EBITDA as estimated at Closing and for potential indemnification claims.&#160;&#160;Each of Mr. Buxbaum and Mr. Yogel owns one-third of the interests of the Equityholders&#8217; Representative. The Equityholders have executed an Equityholders&#8217; Representative and Distribution of Proceeds Agreement, pursuant to which the cash paid, and the Hampshire Common Stock issued, to the Equityholders&#8217; Representative by the Company pursuant to the Merger Agreement is distributed among the Equityholders.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;In addition, pursuant to the Merger Agreement, at Closing and, the Company repaid to (x) Buxbaum Company, LLC, an entity affiliated with, and controlled by, Mr. Buxbaum, indebtedness of Rio totaling $2.2 million and (y) YIH III, LLC, an entity affiliated with, and controlled by, Mr. Yogel, indebtedness of Rio totaling $0.8 million.&#160;&#160;In addition, Buxtradefina, LLC (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">BTF</font>&#8221;), an entity affiliated with, and controlled by, Mr. Buxbaum, is a co-obligor of a promissory note issued by Rio to a third party; in connection with the Merger Agreement, the Company agreed to cause the Surviving Corporation to indemnify BTF for any amounts required to be paid by BTF under the terms of such note.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As previously disclosed, in connection with the Merger, at Closing, the Company and the Equityholders executed a voting agreement and the Stockholder Rights Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Stock Grant and Cash Bonus Awarded to Mr. Golden</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August 25, 2011, the Company entered into an equity award agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Award Agreement</font>&#8221;) with Heath L. Golden, its Chief Executive Officer, pursuant to which he was granted 150,000 restricted shares of the Hampshire Common Stock (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Stock</font>&#8221;).&#160;&#160;The shares of Restricted Stock granted to Mr. Golden are subject to the terms and conditions of the Award Agreement attached as Exhibit 10.2 to this Current Report on Form 8-K.&#160;&#160;The shares of Restricted Stock will vest on the schedule set forth in the Award Agreement, subject to Mr. Golden&#8217;s continued service through the applicable vesting date.&#160;&#160;Generally, unvested shares of Restricted Stock will be subject to forfeiture upon Mr. Golden&#8217;s termination of employment with the Company for any reason.&#160;&#160;The description of the Award Agreement contained herein is qualified in its entirety by reference to the actual Award Agreement filed herewith.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally, on August 25, 2011, the Board awarded Mr. Golden a one-time cash bonus in an amount equal to $100,000 in consideration for, among other things, his exceptional performance in connection with the Company&#8217;s disposition of its women&#8217;s business and the acquisition of Rio.</font></div>

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<td colspan="2" valign="top" width="38%">HAMPSHIRE GROUP, LIMITED</td>
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<td align="left" nowrap valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/&#160;Maura M. Langley</font></td>
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<td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name: Maura M. Langley</font></td>
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<td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title: Vice-President and Chief Financial Officer</font></td>
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<TYPE>EX-10.1
<SEQUENCE>2
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<DESCRIPTION>AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; TEXT-DECORATION: underline">Exhibit 10.1</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>This Amendment No. 2 to Agreement and Plan of Merger (this &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment</font>&#8221;), dated as of August 25, 2011, is made and entered into by and among Hampshire Group, Limited, a Delaware corporation (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Parent</font>&#8221;), RG Merger Sub, S.A., a Honduran <font style="FONT-STYLE: italic; DISPLAY: inline">sociedad anonima</font> and a wholly owned subsidiary of Parent (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Merger Sub</font>&#8221;), Rio Garment S. de R.L., a limited liability company organized under the Laws of the Republic of Honduras (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), and BGY II, LLC, a Delaware limited liability company in its capacity as the Equityholders&#8217; Representative.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>Capitalized terms used in this Amendment but not otherwise defined herein shall have the meanings assigned to them in the Agreement (as defined below).</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>WHEREAS, Parent, Merger Sub, the Company, the Equityholders&#8217; Representative and each of the Equityholders set forth on Schedule I to the Agreement entered into an Agreement and Plan of Merger, dated as of June 13, 2011 (as amended by that certain Amendment No. 1 to Agreement and Plan of Merger dated as of August 15, 2011, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Agreement</font>&#8221;); and</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>WHEREAS, the Parties desire to amend the Agreement pursuant to Section 13.6 thereof.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>NOW THEREFORE, in consideration of the foregoing and the mutual covenants, and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to the Agreement</font>.&#160;&#160;Effective as of the date of this Amendment, the Agreement shall be amended as follows:</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The last sentence of Section 3.2(a) thereof shall be amended and restated in its entirety as follows:</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 72pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;Notwithstanding anything to the contrary contained herein, in no event shall the Estimated Gross Merger Consideration, Initial Adjusted Net Merger Consideration, Final Adjusted Net Merger Consideration or Gross Merger Consideration exceed the Gross Merger Consideration Cap and in no event shall Parent, Merger Sub and/or the Surviving Corporation be obligated to pay an aggregate amount (excluding the Aged Trade Payables Contribution Amount) in excess of the Gross Merger Consideration Cap.&#8221;</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.3(h)(i) thereof shall be amended to delete &#8220;which amount, when taken together with the amounts payable under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.3(h)(ii)</font>, shall not be in excess of the Estimated Net Indebtedness&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.3(h)(ii) thereof shall be amended to delete &#8220;which aggregate amount, when taken together with the amounts payable under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.3(h)(i)</font>, shall not be in excess of the Estimated Net Indebtedness&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.4(c)(i)(1) thereof shall be amended to insert after &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.3(g)</font>;&#8221; &#8220;provided that, if the aggregate amount of any and all payments, deposits and holdbacks made by Parent under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.3</font> at Closing, including, without limitation, the Aged Trade Payables Contribution Amount, the Aggregate Escrow Amount, the Aggregate Holdback Amount, the payment of Closing Indebtedness and Company Expenses, the Closing Payment Cash Consideration and the Closing Payment Stock Consideration (such aggregate amount, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Total Closing Payment Amount</font>&#8221;), when taken together with the Merger Consideration Excess Amount, would exceed an amount equal to $23,000,000 <font style="DISPLAY: inline; TEXT-DECORATION: underline">plus</font> the amount of any Working Capital Surplus, Parent shall only be required to make, or cause to be made, a payment under this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(i)(1)</font> in an amount equal to (i) $23,000,000 <font style="DISPLAY: inline; TEXT-DECORATION: underline">plus</font> the amount of any Working Capital Surplus <font style="DISPLAY: inline; TEXT-DECORATION: underline">minus</font> (ii) the Total Closing Payment Amount.&#8221;</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each of Section 3.4(c)(i) and Section 3.4(c)(ii) thereof shall be amended to insert &#8220;, subject to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(iii)</font>&#8221; after &#8220;then&#8221; in the opening clause thereof.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;Section 3.4(c) thereof shall be amended to replace &#8220;Initial Adjustment Escrow Amount&#8221; with &#8220;Net Initial Adjustment Escrow Amount&#8221; in each instance.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.4(c) thereof shall be amended to add clause (iii), which shall state: &#8220;(iii) Any cash payment of the Merger Consideration Excess Amount or disbursement of all or any portion of the Initial Adjustment Escrow Amount to the Equityholders&#8217; Representative pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)</font>, as applicable, shall be made concurrently with any disbursement of the EBITDA Adjustment Escrow Amount and/or issuance of the EBITDA Holdback Shares pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.5(c)</font>; provided, however, that nothing contained in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(iii)</font> shall affect or delay the timing of any payment or disbursement to Parent pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(ii)</font>.&#160;&#160;Notwithstanding anything to the contrary in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)</font>, any amount payable to the Equityholders&#8217; Representative pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(i)(1)</font> in respect of a Merger Consideration Excess Amount shall be withheld by Parent in an amount (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Withheld Merger Consideration Excess Amount</font>&#8221;) up to the Claim Reserve in respect of any Open Claims under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.2(c)(ii)</font> as of such time (the entire amount of such Claim Reserve, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Retained Initial Adjustment Amount</font>&#8221;). For purposes hereof, &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Net Initial Adjustment Escrow Amount</font>&#8221;<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>means an amount equal to (i) the Initial Adjustment Escrow Amount less (ii) the amount (the<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Retained Initial Adjustment Escrow Amount</font>&#8221;) by which (y) the Retained Initial Adjustment<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>Amount exceeds (z) the Withheld Merger Consideration Excess Amount. The Retained Initial<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>Adjustment Escrow Amount shall be retained in escrow as security for the payment of Open<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>Claims under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.2(c)(ii)</font>, and disbursed as hereinafter provided in this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(iii)</font>.<font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;</font>Any Retained Initial Adjustment Amount shall no longer be required to be withheld (in the case of the Withheld Merger Consideration Excess Amount) or retained in escrow (in the case of any portion of the Retained Initial Adjustment Escrow Amount), as applicable, if and to the extent (I) the Retained Initial Adjustment Amount exceeds the Claim Reserve in respect of any Open Claims under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.2(c)(ii)</font> at any time or (II) consistent with a Final Determination with respect to any such Open Claims, whereupon the Withheld Merger Consideration Excess Amount and/or the Retained Initial Adjustment Escrow Amount shall be permanently reduced (and retained by Parent) and/or paid to the Equityholders&#8217; Representative (in the case of the Withheld Merger Consideration Excess Amount) and/or disbursed to the Equityholders&#8217; Representative and/or Parent (in the case of the Retained Initial Adjustment Escrow Amount).&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.4(e) thereof shall be amended to (i) delete &#8220;contribute, or cause to be contributed, to the Company&#8221; and to replace it with &#8220;contribute or loan, or cause to be contributed or loaned, to the Company, Merger Sub or the Surviving Corporation&#8221; and (ii) delete &#8220;$2,000,000&#8221; and replace it with &#8220;$1,850,000&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.5(c)(i) thereof shall be amended to (i) delete &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(b)</font>&#8221; and replace it with &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.5(b)</font>&#8221; and (ii) insert &#8220;equals or&#8221; before &#8220;exceeds&#8221;, Section 3.5(c)(i)(1) thereof shall be deleted in its entirety and replaced with &#8220;[Reserved]&#8221; and the definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Aggregate Value Excess Amount</font>&#8221; shall be deleted.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.10 thereof shall be amended to insert before &#8220;for no other purpose&#8221; &#8220;and claims under Section 11.2(c)(ii) existing as of the time any amounts thereunder would be payable to the Equityholders&#8217; Representative as contemplated by Section 3.4(c)(iii)&#8221; and to insert after &#8220;Section 11.2&#8221; in clause (i) thereof &#8220;(other than claims under <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.2(c)(ii)</font> existing as of the time any amounts thereunder would be payable to the Equityholders&#8217; Representative as contemplated by <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(iii)</font>)&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 3.11 thereof is hereby deleted in its entirety and replaced with &#8220;[Reserved]&#8221;.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 7.3 thereof shall be amended to delete &#8220;the Company&#8221; and replace it with &#8220;each of the Equityholders and the Equityholders Representative&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 11.2(c) thereof shall be amended to insert &#8220;(i)&#8221; before &#8220;any and all&#8221; and to insert after &#8220;Closing Date,&#8221; &#8220;or (ii) any or all Honduran withholding (and similar) Taxes in respect of any payments paid or payable by Parent, Merger Sub or the Surviving Corporation (or any Affiliate thereof) under this Agreement&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 11.6 thereof shall be amended to add the following parenthetical after &#8220;zero (0)&#8221; &#8220;(provided, that, with respect to any claims pursuant to <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.2(c)(ii)</font> for which there is a Retained Initial Adjustment Amount, such indemnification payment in respect thereof shall be effected first from such Retained Initial Adjustment Amount and then from such Tax Holdback Shares)&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section 11.7(d) thereof shall be amended to insert after &#8220;ending on or prior to the Closing Date&#8221; &#8220;and that none of Parent, RG Merger Sub and the Surviving Corporation owe any Honduran withholding (or similar) Taxes in respect of any payments paid or payable by Parent, RG Merger Sub or the Surviving Corporation (or any Affiliate thereof) under this Agreement,&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibit A thereto shall be amended as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Aged Trade Payables Contribution Amount</font>&#8221; shall be amended to replace &#8220;$2,000,000&#8221; with &#8220;$1,850,000&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Aggregate Value</font>&#8221; shall be amended and restated in its entirety to read as follows: &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Aggregate Value</font>&#8221; means the lower of (x) the product of (i) 2011 Adjusted EBITDA and (ii) three (3) and (y) Projected Value.&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash Equivalents</font>&#8221; shall be amended to replace &#8220;including&#8221; with &#8220;other than&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of&#160;&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Closing Net Indebtedness</font>&#8221; shall be amended to replace &#8220;Cash and Cash Equivalents&#8221; with &#8220;the aggregate amount represented by&#160;&#160;certificates of deposit with the Unaffiliated Debtholder&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Closing Payment Cash Consideration</font>&#8221; shall be amended to replace &#8220;Closing&#8221; in clause (iii) thereof with &#8220;Net&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Gross Merger Consideration Cap</font>&#8221; shall be amended to insert &#8220;minus the Aged Trade Payables Contribution Amount plus the amount of any Working Capital Surplus&#8221; after &#8220;$23,000,000&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Initial Adjusted Net Merger Consideration</font>&#8221; shall be amended to insert &#8220;(i)&#8221; after &#8220;(y)&#8221; and &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">minus</font> (ii)&#160;the amount of the Closing Net Indebtedness <font style="DISPLAY: inline; TEXT-DECORATION: underline">minus</font> (iii)&#160;the amount of the Company Expenses&#8221; after &#8220;the Gross Merger Consideration Cap&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(viii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Net Working Capital</font>&#8221; shall be amended to (i) insert &#8220;and any prepaid interest&#8221; after &#8220;O&#8217;Quinn Assets&#8221; and (ii) delete &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">less</font> (iii) Cash and Cash Equivalents.&#8221;&#160;&#160;The following sentence shall be added at the end of such definition: &#8220;For the avoidance of doubt, current liabilities shall not include liabilities of the Company or the Surviving Corporation in respect of any loan made by Parent under Section 3.4(e) of the Agreement.&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;A definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Total Closing Payment Amount</font>&#8221; shall be added before the definition for &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Transaction Documents</font>&#8221; and shall state: &#8220;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Total Closing Payment Amount</font>&#8221; shall have the meaning set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.4(c)(i)(1)</font>.&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;A definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Working Capital Surplus</font>&#8221; shall be added before the definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">YIH</font>&#8221; and shall state: &#8220;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Working Capital Surplus</font>&#8221; means the amount (if any) by which Closing Working Capital exceeds Target Working Capital&#8221;.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Schedule 3.4(e) to the Agreement is hereby amended, restated and replaced in its entirety with Schedule 3.4(e) attached hereto.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Closing Date</font>.&#160;&#160;This Amendment shall be effective immediately prior to Closing and the Parties acknowledge and agree that the Closing Date shall be August 25, 2011.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Acknowledgement of Designated Cash Increase</font>.&#160;&#160;Pursuant to Section 3.3(f) of the Agreement, the Equityholders hereby designate an amount equal to $500,000, which shall (as set forth in the definition of Applicable Cash Amount), increase, dollar for dollar, the Closing Payment Cash Consideration and decrease the Closing Payment Stock Consideration payable or issuable to the Equityholders pursuant and subject to the terms of the Agreement.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Binding Effect</font>.&#160;&#160;This Amendment shall be binding upon and inure solely to the benefit of each party to the Agreement and its successors and permitted assigns.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Severability</font>.&#160;&#160;In the event that any provision of this Amendment is declared by any court or other judicial or administrative body to be null, void or unenforceable, said provision shall survive to the extent it is not so declared, and all of the other provisions of this Amendment shall remain in full force and effect.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Integration</font>.&#160;&#160;The provisions set forth in this Amendment shall be deemed to be and shall be construed as part of the Agreement to the same extent as if fully set forth verbatim therein.&#160;&#160;In the event of any variation or inconsistency between any provision contained in this Amendment and any provision contained in the Agreement, the provision contained herein shall govern.&#160;&#160;All references in the Agreement or any other agreements, instruments and documents executed and delivered in connection therewith to the &#8220;Agreement&#8221; shall be deemed to refer to the Agreement as amended hereby.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Governing Law</font>.&#160;&#160;This Agreement shall be construed, performed and enforced in accordance with, and governed by, the laws of the State of Delaware, without giving effect to the principles of conflicts of laws thereof.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Other Amendments</font>.&#160;&#160;Except as expressly amended or modified hereby, the terms and conditions of the Agreement shall continue in full force and effect.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Counterparts</font>.&#160;&#160;This Amendment may be executed by the Parties in one or more counterparts or duplicate originals, each of which when so executed and delivered shall be deemed an original, but all of which together shall constitute one and the same instrument, and all signatures need not appear on any one counterpart.&#160;&#160;Any facsimile copies hereof or signature hereon shall, for all purposes, be deemed originals.&#160;&#160;The exchange of a fully executed Amendment (in counterpart or otherwise) by electronic transmission in PDF format or by facsimile shall be sufficient to bind the Parties.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, or have executed this Amendment in their individual capacities, as applicable, as of the date first above written.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PARENT:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By <font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Heath L. Golden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 216pt; MARGIN-RIGHT: 0pt" align="left">&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: <font style="DISPLAY: inline; TEXT-DECORATION: underline">Heath L. Golden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 216pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By <font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Heath L. Golden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 216pt; MARGIN-RIGHT: 0pt" align="left">&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: <font style="DISPLAY: inline; TEXT-DECORATION: underline">Heath L. Golden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
<DESCRIPTION>EQUITY AWARD AGREEMENT
<TEXT>
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; TEXT-DECORATION: underline">Exhibit 10.2</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EQUITY AWARD AGREEMENT</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">THIS AGREEMENT </font>(this&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Agreement</font>&#8221;) is made by and between Hampshire Group, Limited (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), and Heath L. Golden (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grantee</font>&#8221;), as of August 25, 2011 (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grant Date</font>&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RECITALS</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Company desires to grant to the Grantee the equity award described herein (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Award</font>&#8221;); and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Award shall consist of a grant of restricted shares of the Company&#8217;s common stock, par value $0.10 per share (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Stock</font>&#8221;) in accordance with the terms and subject to the conditions set forth in this Agreement; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Grantee has accepted the grant of the Award and hereby agrees to the terms and conditions hereinafter stated.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">NOW</font>, <font style="DISPLAY: inline; FONT-WEIGHT: bold">THEREFORE</font>, in consideration of the foregoing recitals and of the promises and conditions herein contained, it is agreed as follows:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE I</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GRANT OF RESTRICTED STOCK</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 1.1 - </font>Grant of Restricted Stock.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company hereby grants the grantee 150,000 restricted shares of Stock (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Stock</font>&#8221;) as of the Grant Date.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 1.2 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Vesting.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Generally, provided that the Grantee has not undergone a termination of employment with the Company (a&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Termination</font>&#8221;) prior to the applicable vesting date:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;one-third (<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">/3</font>) of the shares of Restricted Stock shall vest on the Grant Date;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;one-third (<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">/3</font>) of the shares of Restricted Stock shall vest on the first (1<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font>) anniversary of the Grant Date; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;one-third (<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">/3</font>) of the shares of Restricted Stock shall vest on the second (2<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">nd</font>) anniversary of the Grant Date.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding the foregoing, in the event of a Change in Control (as defined in the Company&#8217;s 2009 Stock Incentive Plan (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">2009 Plan</font>&#8221;)), one hundred percent (100%) of the Grantee&#8217;s unvested shares of Restricted Stock shall become fully vested as of the date of the Change in Control.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 1.3 - </font>Treatment of Restricted Stock Upon Termination.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon the Grantee&#8217;s Termination for any reason, (i)&#160;vesting of the shares of Restricted Stock shall cease as of the date of Termination and (ii)&#160;any unvested shares of Restricted Stock awarded herein shall immediately be forfeited to the Company.&#160;&#160;Neither the Grantee nor any of the Grantee&#8217;s successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such then-unvested shares of Restricted Stock.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 2.1 - </font>Capitalization Adjustments.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The number of shares of Stock covered by this Award shall be equitably and proportionally adjusted or substituted, as determined by the Compensation Committee (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Compensation Committee</font>&#8221;) of the Company&#8217;s Board of Directors (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Board</font>&#8221;), as to the number, price, or kind of a share of Stock or other consideration subject to the Award (i)&#160;in the event of changes in the outstanding Stock or in the capital structure of the Company by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, reorganizations, mergers, consolidations, combinations, exchanges, or other relevant changes in capitalization occurring after the Grant Date (including any Corporate Event, as defined below); (ii)&#160;in connection with any extraordinary dividend declared and paid in respect of shares of Stock, whether payable in the form of cash, stock, or any other form of consideration; or (iii)&#160;in the event of any change in applicable laws that results in or could result in, in either case, as determined by the Compensation Committee in its sole discretion, any substantial dilution or enlargement of the rights granted to, or available for, the Grantee.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 2.2 - </font>Corporate Events.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding the foregoing, in connection with (i)&#160;a merger or consolidation involving the Company in which the Company is not the surviving corporation; (ii)&#160;a merger or consolidation involving the Company in which the Company is the surviving corporation but the holders of shares of Stock receive securities of another corporation and/or other property, including cash; (iii)&#160;a Change in Control; or (iv)&#160;the reorganization or liquidation of the Company (each, a &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Corporate Event</font>&#8221;), the Compensation Committee may, in its discretion, provide for any one or more of the following:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that the Award be assumed or substituted in connection with such Corporate Event, in which case, the Award shall be subject to the adjustment set forth in Section&#160;2.1 above;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that the vesting of the Award shall be accelerated, subject to the consummation of such Corporate Event;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that any vested and/or unvested portion of the Award be cancelled as of the consummation of such Corporate Event, and that the Grantee will receive a payment for any vested portion of such Award (including any portion of the Award that would vest upon the Corporate Event but for such cancellation) so cancelled based on the amount of the per-share consideration being paid for the Stock in connection with such Corporate Event; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;that the Award be replaced with a cash incentive program that preserves the value of the portion of the Award so replaced (determined as of the consummation of the Corporate Event), with subsequent payment of cash incentives subject to the same vesting conditions as applicable to the portion of the Award so replaced, and payment to be made within thirty (30) days of the applicable vesting date.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Payments made pursuant to clause&#160;(c) above shall be made in cash or, in the sole discretion of the Compensation Committee, in the form of such other consideration necessary for the Grantee to receive property, cash, or securities (or any combination thereof) as the Grantee would have been entitled to receive upon the occurrence of the transaction if the Grantee had been, immediately prior to such transaction, the holder of the number of shares of Stock covered by the Award at such time.&#160;&#160;In addition, in connection with any Corporate Event, prior to any payment or adjustment contemplated under Section&#160;2.2, the Compensation Committee may require the Grantee to (i)&#160;represent and warrant as to the unencumbered title to his Award; (ii)&#160;bear his pro rata share of any post-closing indemnity obligations, and be subject to the same post-closing purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Stock; and (iii)&#160;deliver customary transfer documentation as reasonably determined by the Compensation Committee.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 2.3 - </font>Fractional Shares.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any adjustment provided under this Article II may provide for the elimination of any fractional share that might otherwise become subject to the Award.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE III</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPRESENTATIONS AND WARRANTIES</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Grantee hereby represents and warrants to the Company that:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Grantee understands that the Stock has not been registered under the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder (the&#160;&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Securities Act</font><font style="DISPLAY: inline">&#8221;), nor qualified under any state securities laws, and that it is being offered and sold pursuant to an exemption from such registration and qualification based in part upon the Grantee&#8217;s representations contained herein; the Stock is being issued to Grantee hereunder in reliance upon the exemption from such registration provided by Section 4(2) of the Securities Act for transactions by an issuer not involving any public offering, and in connection therewith, the Grantee acknowledges the Grantee&#8217;s status as an &#8220;accredited investor&#8221; within the meaning of Rule 501 promulgated under the Securities Act;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Grantee is an &#8220;accredited investor&#8221; as such term is defined in Rule&#160;501(a) of the Securities Act and has such knowledge and experience in financial and business matters that the Grantee is capable of evaluating the merits and risks of the investment contemplated by this Agreement; and the Grantee is able to bear the economic risk of this investment in the Company (including a complete loss of this investment);</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as specifically provided herein, the Grantee has no contract, undertaking, understanding, agreement or arrangement, formal or informal, with any person to sell, transfer or pledge all or any portion of his Stock, and has no current plans to enter into any such contract, undertaking, understanding, agreement or arrangement;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Grantee has not seen, received, been presented with, or been solicited by any leaflet, public promotional meeting, article or any other form of advertising or general solicitation as to the Company&#8217;s sale to such Grantee of his Stock;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Grantee is familiar with the business and operations of the Company and has been afforded full and complete access to the books, financial statements, records, contracts, documents and other information concerning the Company and its proposed activities, and has been afforded an opportunity to ask such questions of the Company&#8217;s agents, accountants and other representatives concerning the Company's proposed business, operations, financial condition, assets, liabilities and other relevant matters as he has deemed necessary or desirable, and has been given all such information as has been requested, in order to evaluate the merits and risks of the investment contemplated herein;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Grantee has been informed that the shares of Stock are restricted securities under the Securities Act and may not be resold or transferred unless the shares of Stock are first registered under the Federal securities laws or unless an exemption from such registration is available; and</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline">The Grantee is prepared to hold the shares of Stock for an indefinite period and that the Grantee is aware that Rule 144 as promulgated under the Securities Act, which exempts certain resales of restricted securities, is not presently available to exempt the resale of the shares of Stock from the registration requirements of the Securities Act.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.1 - </font>Rights and Privileges as a Stockholder.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Grantee shall generally have the rights and privileges of a stockholder as to Restricted Stock, including the right to vote such Restricted Stock.&#160;&#160;Cash dividends and stock dividends, if any, with respect to the Restricted Stock shall be paid by the Company to the Grantee at the time of payment to other stockholders of the Company; <font style="DISPLAY: inline; FONT-STYLE: italic">provided</font>, <font style="DISPLAY: inline; FONT-STYLE: italic">however</font>, in the case of stock dividends only, the stock received in connection with such shall be subject to the same vesting and forfeiture conditions as the shares of Restricted Stock to which such dividends relate.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.2 - </font>Restrictions on Transfer.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until such time that the Restricted Stock has vested pursuant to the terms of this Agreement, which vesting the Compensation Committee may in its sole discretion accelerate at any time, the Grantee shall not be permitted to sell, transfer, pledge, or otherwise encumber the Restricted Stock.&#160;&#160;Notwithstanding anything contained herein to the contrary, the Compensation Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date of the Award, such action is appropriate.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 4.3 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Withholding.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon the vesting of the Award, the Grantee will be required to satisfy, through deduction or withholding from any payment of any kind otherwise due to the Grantee, or through such other arrangements as are satisfactory to the Compensation Committee, the minimum amount of all Federal, state, and local income and other taxes of any kind required or permitted to be withheld in connection with such vesting.&#160;&#160;The Compensation Committee, in its discretion, may permit shares of Stock to be used to satisfy tax withholding requirements, and such shares shall be valued at their fair market value as of the vesting date of the Award (as determined by the Compensation Committee); <font style="DISPLAY: inline; FONT-STYLE: italic">provided</font>, <font style="DISPLAY: inline; FONT-STYLE: italic">however</font>, that the aggregate fair market value of the number of shares of Stock that may be used to satisfy tax withholding requirements may not exceed the minimum statutorily required withholding amount with respect to such Award.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 4.4 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Certificates.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any certificates representing the Stock delivered to the Grantee shall be subject to such stop transfer orders and other restrictions as the Compensation Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission (the&#160;&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Commission</font>&#8221;), any stock exchange upon which such shares are listed, and any applicable federal or state laws, and the Compensation Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions as the Compensation Committee deems appropriate.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 4.5 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Governing Law.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware other than its laws regarding conflicts of law (to the extent that the application of the laws of another jurisdiction would be required thereby).&#160;&#160;The Company shall have final authority to interpret and construe this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the Grantee and the Grantee&#8217;s legal representative in respect of any questions arising under this Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 4.6 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Notices.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any notice to be given under the terms of this Agreement shall be in writing and addressed to the Company at <font style="DISPLAY: inline">114 West 41</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font><font style="DISPLAY: inline"> St., New York, New York 10036</font>, and to the Grantee at the Grantee&#8217;s home address as of the date of this Agreement or at such other address as either party may hereafter designate in writing to the other by like notice.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.7 - </font>Delivery of Documents.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Grantee agrees that the Company may deliver by email all documents relating to the Award and all other documents that the Company is required to deliver to its security Grantees (including, without limitation, disclosures that may be required by the Commission).&#160;&#160;The Grantee also agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company.&#160;&#160;If the Company posts these documents on a website, it shall notify the Grantee by email or such other reasonable manner as then determined by the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as otherwise provided hereunder, this Agreement shall be binding upon and shall inure to the benefit of any successor or successors of the Company.&#160;&#160;This Agreement shall only become effective and binding on the Company in the event Grantee shall have executed and delivered this Agreement to the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.9 - </font>Compliance With Laws.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The obligation of the Company to deliver Stock upon vesting of any portion of the Award shall be subject to all applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required.&#160;&#160;Notwithstanding any terms or conditions of the Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling any shares of Stock pursuant to the Award unless such shares have been properly registered for sale with the Commission pursuant to the Securities Act or unless the Company has received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with.&#160;&#160;The Company shall be under no obligation to register for sale or resale under the Securities Act any of the shares of Stock to be offered or sold pursuant to this Agreement.&#160;&#160;If the shares of Stock offered for sale or sold pursuant to this Agreement are offered or sold pursuant to an exemption from registration under the Securities Act, the Company may restrict the transfer of such shares and may legend the Stock certificates representing such shares in such manner as it deems advisable to ensure the availability of any such exemption.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.10 - </font>Clawback or Recoupment Policy.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding anything contained herein to the contrary, the Award shall be and remain subject to any incentive compensation clawback or recoupment policy currently in effect or as may be adopted by the Board, and in each case, as may be amended from time to time.&#160;&#160;Any such policy adoption or amendment shall in no event require the prior consent of the Grantee.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.11 - </font>No Liability of Committee Members.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No member of the Compensation Committee shall be personally liable by reason of any contract or other instrument executed by such member or on his behalf in his capacity as a member of the Compensation Committee or for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each member of the Compensation Committee and each other employee, officer, or director of the Company to whom any duty or power relating to the grant of the Award may be allocated or delegated, against all costs and expenses (including counsel fees) and liabilities (including sums paid in settlement of a claim) arising out of any act or omission to act in connection with the Award unless arising out of such person&#8217;s own fraud or willful misconduct; <font style="DISPLAY: inline; FONT-STYLE: italic">provided, however</font>, that approval of the Board shall be required for the payment of any amount in settlement of a claim against any such person.&#160;&#160;The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company&#8217;s certificate or articles of incorporation or by-laws, each as may be amended from time to time, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the Compensation Committee shall find that the Grantee is unable to care for his affairs because of illness or accident or has died, then any payment due to the Grantee or his estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Compensation Committee so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed by the Compensation Committee to be a proper recipient on behalf of the Grantee.&#160;&#160;Any such payment shall be a complete discharge of the liability of the Compensation Committee and the Company therefor.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Section 4.13 - </font>Reliance on Reports.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each member of the Compensation Committee and each member of the Board shall be fully justified in relying, acting or failing to act, and shall not be liable for having so relied, acted, or failed to act in good faith, upon any report made by the independent public accountant of the Company and any subsidiaries or affiliates and upon any other information furnished in connection with this Agreement by any person or persons other than such member.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section 4.14 - <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Amendment.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Board or the Compensation Committee, at any time, and from time to time, may amend the terms of the Award; <font style="DISPLAY: inline; FONT-STYLE: italic">provided</font>,<font style="DISPLAY: inline; FONT-STYLE: italic"> however,</font> that the Grantee&#8217;s rights to the Award shall not be impaired by any such amendment unless the Grantee consents in writing.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Grantee shall not have any claim or right to be selected for a grant of any other Award.&#160;&#160;Nothing in this Agreement shall be deemed to confer on the Grantee any right to continued employment with the Company or any of its subsidiaries or affiliates.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as otherwise specified herein, this Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes in its entirety all prior undertakings, agreements, correspondence, and term sheets of or between the Company and the Grantee with respect to the subject matter hereof.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">IN WITNESS WHEREOF</font>, the Company has caused this Agreement to be executed on its behalf by a duly authorized officer, and the Grantee has hereunto set the Grantee&#8217;s hand on the date indicated below.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">HAMPSHIRE GROUP, LIMITED</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Maura M. Langley</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Maura M. Langley</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 180pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Chief Financial Officer</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Heath L. Golden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Heath L. Golden</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date: August 25, 2011</font></div>
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; TEXT-DECORATION: underline">Exhibit 99.1</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HAMPSHIRE GROUP, LIMITED</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">STOCK SYMBOL: <font style="DISPLAY: inline; FONT-WEIGHT: bold">HAMP.PK</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">CONTACT</font>:</font></div>
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Berns Communications Group, LLC</font></div>
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Stacy Berns / Melissa Jaffin</font></div>
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(212) 994-4660</font></div>
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">HAMPSHIRE COMPLETES ACQUISITION OF RIO GARMENT</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">New York, NY, August 25, 2011</font>&#8230; Hampshire Group, Limited (OTC Markets: HAMP.PK, www.hamp.com) today announced that it has completed the previously announced acquisition of Rio Garment S. de R.L. (&#8220;Rio&#8221;), a leading Honduras-based apparel manufacturer, designing, sourcing and producing knit tops for retailers and distributors in the United States.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Hampshire acquired Rio for an aggregate purchase price of $22.9 million, which was payable $7.0 million in cash and $10.0 million in Hampshire stock after the repayment in cash at closing of certain liabilities totaling approximately $5.9 million. The acquisition is expected to be accretive to Hampshire&#8217;s 2011 operating results.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;We are very pleased to announce the successful close of the acquisition, as Rio Garment provides us a clear path toward profitability and reaffirms our commitment to delivering long-term shareholder value,&#8221; said Heath Golden, CEO of Hampshire Group.&#160;&#160;&#8220;Strengthening our potential for growth, Rio Garment diversifies our distribution channel with direct access to the fast-growing vertical specialty store channel.&#160;&#160;At the same time, as we integrate Rio Garment, we foresee considerable cross-selling opportunities for both businesses.&#160;&#160;Further, the acquisition puts us on the leading edge of a strong industry trend toward migrating production back to the western hemisphere, from which additional unforeseen benefits are likely to come.&#8221;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based in San Pedro Sula, Honduras with 2010 net sales of $57 million, Rio was founded on the premise that Central America will best serve the 21<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font> century needs of fashion retailers.&#160;&#160;The Company manufactures knit tops primarily for specialty retailers, including Aeropostale, its largest customer.&#160;&#160;Rio&#8217;s location in San Pedro Sula enables it to readily draw upon the extensive network of local textile and accessory suppliers and an abundant labor supply.&#160;&#160;David Gren, General Manager of Rio, and his entire senior management team will continue to manage the day-to-day operations of Rio, reporting directly to Heath Golden.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In connection with the closing of the acquisition, Hampshire and the sellers entered into a second amendment to the merger agreement, which amended certain closing and post-closing payment mechanics.&#160;&#160;At closing, Hampshire also executed a stockholder rights agreement and voting agreement with the sellers.&#160;&#160;Pursuant to the stockholder rights agreement, the sellers have the right to designate two members to the Hampshire Board of Directors, and, effective as of closing, Paul Buxbaum, CEO of Buxbaum Group, and Benjamin Yogel, Managing Director of MRC Capital Group and an investor in Rio, have joined the Board.&#160;&#160;In addition, as contemplated by the merger agreement, one existing director of the Company, Janice Page, resigned from the Board effective as of the closing.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">About Hampshire Group</font></font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Hampshire Group, Limited is a leading provider of fashion apparel with a strong position in the sweater, woven and knit categories.&#160; Hampshire designs, manufactures and markets high quality, trend-right apparel across a variety of owned, proprietary and licensed brands, serving prominent retailers such as JC Penney, Kohl&#8217;s, Macy&#8217;s, Belk and Aeropostale.&#160; The Company operates three business lines.&#160; <font style="FONT-STYLE: italic; DISPLAY: inline">Rio Garment</font> is a Honduras-based apparel manufacturer, offering a full range of product development, design and sourcing services, mainly for the vertical specialty store channel.&#160; s<font style="FONT-STYLE: italic; DISPLAY: inline">cott james</font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font> is a specialty retailer, as well as a wholesaler of contemporary menswear influenced by classic European style, primarily to upscale specialty stores.&#160; <font style="FONT-STYLE: italic; DISPLAY: inline">Hampshire Brands</font> provides products to major department and chain stores under the licensed Geoffrey Beene &#174;, Dockers&#174;, JOE Joseph Abboud&#174; and proprietary Spring+Mercer&#174; labels.&#160;</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Cautionary Disclosure Regarding Forward-Looking Statements</font></div>

<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect the Company's current views with respect to future events. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. Readers are urged to review and consider carefully the various disclosures made by the Company in its Form 10-K and other Securities and Exchange Commission filings, which advise interested parties of certain factors that affect the Company's business. Risks and uncertainties that could cause actual results to differ materially from those anticipated in our forward looking statements include, but are not limited to, the following: economic cycles that affect consumer spending; lack of an established public trading market for the Company&#8217;s common stock; decreases in business from or the loss of any of our key customers; financial instability experienced by our customers; chargebacks and margin support payments; loss or inability to renew certain licenses; the ability to anticipate consumer trends; use of foreign suppliers to manufacture our products and the increase of related costs; failure of our vendors to use acceptable ethical business practices; failure to deliver quality products in a timely manner; potential problems with our distribution system; labor disruptions; failure, inadequacy, interruption or security lapse in information technology; failure to successfully compete; challenges integrating businesses we have acquired or may acquire; unanticipated results from the resolution of tax matters; loss of certain key personnel; the stockholders&#8217; rights plan; and global, political and economic conditions.</font></div>

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