SECOND AMENDMENT TO SECURITY AGREEMENT
EXHIBIT 10.30
SECOND AMENDMENT TO SECURITY AGREEMENT
THIS SECOND AMENDMENT TO SECURITY AGREEMENT (this “Amendment”) is entered into as of January
26, 2010, by and between LACROSSE FOOTWEAR, INC., a Wisconsin corporation (“Borrower”) and XXXXX
FARGO BANK, NATIONAL ASSOCIATION (“Bank”).
RECITALS
WHEREAS, Borrower is the grantor of a Security Agreement granted in favor of Bank dated as of
April 15, 2004 (as amended, the “Security Agreement”).
WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that
certain Second Amended and Restated Credit Agreement between Borrower and Bank dated as of March 1,
2009, as amended from time to time, which is the “Credit Agreement” as that term is used in the
Security Agreement.
WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set
forth in the Security Agreement and have agreed to amend the Security Agreement to reflect said
changes.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. | The final two paragraphs of the Security Agreement are hereby amended to read as follows in their entirety: | |
Debtor warrants that the address of its chief executive office is 00000 XX Xxxxxxx Xxx, Xxxxxxxx XX 00000, or such other address of which the Debtor notifies the Bank from time to time. | ||
Debtor warrants that the tangible Collateral (except goods in transit or in possession of repairmen) is or will be located or domiciled at the following additional addresses: 00000 XX Xxxxxxx Xxx, Xxxxx X, Xxxxxxxx, XX 00000 (this location is in preparation); 00000 XX Xxxxxx Xxx, Xxxxxxxx, XX 00000 (this location is in preparation); 00000 XX Xxxxxxx Xxx, Xxxxxxxx, XX 00000; 0000 Xxxxxxxxxxx Xxx, Xxxxxxxxxx, XX 00000; and 00000 XX Xxxxxxx Xxx, Xxxxxxxx, XX 00000. Debtor sells inventory in the ordinary course of business to LaCrosse Denmark, which stores it at Xxxxx Xxxxxxxx Xxx 00 XX-0000 Xxxxxxxxxxxxx, Xxxxxxx or at Scan Global Logistics, True Xxxxxxxx 0,0000 Xxxxx, Xxxxxxx, or in transit, and which ships inventory under customary sale and shipping terms to its customers, and to vendors as samples, and which disposes of defective or out of date inventory in the ordinary course of business. |
2. In all other respects, the Security Agreement, as amended by the First Amendment to Security
Agreement between the parties hereto dated as of March 1, 2009, remains in full force and effect.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day
and year first written above.
LACROSSE FOOTWEAR, INC.
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||
Xxxxxx X. Xxxxxxxxx | ||||
President/Chief Executive Officer | ||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Xxxxx X. Xxxxxxx | ||||
Executive Vice President/Chief Financial Officer | ||||
XXXXX FARGO BANK,
NATIONAL ASSOCIATION
NATIONAL ASSOCIATION
By: | /s/ Xxxxx X. Xxxxxxx | |||
Xxxxx X. Xxxxxxx | ||||
Senior Vice President | ||||
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