XXXXXXX 00.0
Xxxxxxx Xxxxxx
000 Xxxxxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxxxxxx, XX 00000
November 14, 2003
Odd Job Stores, Inc.
000 Xxxxx Xxxxxx
Xxxxx Xxxxxxxxxx, Xxx Xxxxxx 00000
Re: Letter of Credit Reimbursement Agreement
Ladies and Gentlemen:
In order to induce Fleet Retail Finance Inc. ("Fleet") to enter
into the First Amendment to the Loan and Security Agreement dated as of today's
date among Fleet, Odd Job Stores, Inc. ("Odd Job") and the other parties
signatories thereto, Xxxxxxx Xxxxxx has offered to cause a letter of credit in
an amount not less than $5,000,000 to be issued for the benefit of Fleet (the
"Letter of Credit").
In connection with Xx. Xxxxxx providing the Letter of Credit for
Odd Job's benefit, Odd Job has agreed to (i) pay Xx. Xxxxxx an unused Letter of
Credit commitment fee of 10% per annum of the undrawn amount of the Letter of
Credit outstanding plus all fees, costs and expenses (including the fees and
expenses of counsel) incurred by Xx. Xxxxxx in connection with obtaining the
Letter of Credit, (ii) reimburse Xx. Xxxxxx for any amounts that are drawn under
the Letter of Credit and (iii) pay Xx. Xxxxxx a fee of 15% per annum on any
amount that is drawn under the Letter of Credit from the time the amount is
drawn under the Letter of Credit until such amount is reimbursed by Odd Job.
Very truly yours,
/s/ Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx
Accepted and agreed as of the date first written above:
ODD JOB STORES, INC.
By: /s/ Xxxxx Xxxxxxx
-------------------------------
Name: Xxxxx Xxxxxxx
Title: Chief Financial Officer
