Cary Newman June 10, 2005Letter Agreement • January 26th, 2006 • Del Professional Products, Inc. • Perfumes, cosmetics & other toilet preparations
This letter agreement (this Agreement”) is to confirm the terms and conditions of your employment with Del Laboratories, Inc. (“Del”).
Del Laboratories, Inc.Del Professional Products, Inc. • January 26th, 2006 • Perfumes, cosmetics & other toilet preparations
This letter confirms that (i) the New Credit Agreement is the Permanent ABL Facility as defined in the Intercreditor Agreement, (ii) the Initial Credit Agreement has been refinanced under the Permanent ABL Facility, (iii) the Permanent ABL Facility includes, among other things, a Lien Sharing and Priority Confirmation and provides for JPMorgan Chase Bank, N.A. to hold Credit Facility Liens as agent for the benefit of the holders of Credit Facility Lien Obligations and (iv) Section 3.4(c) of the Intercreditor Agreement provides that JPMorgan Chase Bank, N.A. in its capacity as such agent will concurrently and automatically succeed to the rights, powers and duties of the predecessor Credit Facility Collateral Agent under the Intercreditor Agreement, whether or not it assumes such rights, powers or duties and without any requirement of notice to or consent by any of the parties thereto. Please kindly indicate your acceptance and acknowledgement of this letter by executing the signature pa
