LEHMAN BROTHERS MERCHANT BANKING PARTNERS IV L.P. c/o LEHMAN BROTHERS INC. NEW YORK, NEW YORK 10022Letter Agreement • May 23rd, 2008 • Angelica Corp /New/ • Services-personal services • New York
This Letter Agreement is being delivered by Lehman Brothers Merchant Banking Partners IV L.P. (the “Fund”) to Angelica Corporation, a Missouri corporation (the “Company”), in connection with the execution of that certain Agreement and Plan of Merger, dated as of the date hereof (as it may be amended from time to time, the “Merger Agreement”), among Clothesline Holdings, Inc., a Delaware corporation (“Parent”), Clothesline Acquisition, Inc., a Missouri corporation (“Merger Sub”) and the Company, pursuant to which Merger Sub will merge with and into the Company. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Merger Agreement. The Fund and the Company hereby agree as follows:
