Chaus Bernard Inc Watch

from 10-Q 2 pages Bernard Chaus, Inc. Cynthia Steffe Acquisition, LLC S.L. Danielle Acquisition, LLC 530 Seventh Avenue New York, New York 10018 Ladies and Gentlemen: We Refer You to the Financing Agreement Between You and US, Dated as of September 18, 2008, as Supplemented and Amended (Herein Referred to as the “Financing Agreement”). Capitalized Terms Used Herein but Not Otherwise Defined Herein Shall Have the Meanings Given Them in the Financing Agreement. This Letter Shall Confirm Your and Our Mutual Consent and Understanding That Effective as of May 1, 2009, the Financing Agreement Shall Be, and Hereby Is, Amended as Follows: 1. the Definition of “Applicable Margin” Appearing in Section 1 of the Financing Agreement, Shall Be, and Hereby Is, Amended to Read as Follows: “Applicable Margin for Base Rate Loans Shall Mean Two Percent (2%). 2. Paragraph 8.3 of Section 8 of the Agreement Shall Be, and Hereby Is, Deleted in Its Entirety and Replaced With the Following Text

from S-2 1 page Josephine Chaus Extending the Due Dates on Subordinated Promissory Notes Josephine Chaus September 8, 1995 Board of Directors Bernard Chaus, Inc. 1410 Broadway New York, New York 10018 Re: Extension of Due Date on Subordinated Notes of Bernard Chaus, Inc. (The "Company") Gentlemen: Reference Is Made to the Subordinated Notes Payable to Me by the Company Which Are Set Forth on Schedule a (The "Notes"), Each of Which Become Due and Payable on April 1, 1996. in View of the Covenants Under the Company's Credit Facility With Bny Financial Corp. Which Continue to Prohibit Payments of Interest or Principal Under the Notes, I Have Agreed to Extend the Maturity Date of the Notes. This Letter Shall Constitute an Amendment to Each of the Notes to Extend the Due Date Thereof Until July 1, 1996. Except as Expressly Modified Herein, All of the Provisions, Terms and Conditions Contained in the Notes, as They May Have Been Previously Amended, Shall Remain in Full Force and Effect. Very Truly Yours, /S/ Josephine Chaus Josephine Chaus Accepted and Agreed To: Bernard Chaus, Inc. By: /S/ Karen A. Maloney Karen A. Maloney, Corporate Controller Date: September 8, 1995

from 10-Q 1 page Josephine Chaus April 26, 1995 Board of Directors Bernard Chaus, Inc. 1410 Broadway New York, New York 10018 Re: Extension of Due Date on Subordinated Notes of Bernard Chaus, Inc. (The "Company") Gentlemen: Reference Is Made to the Subordinated Notes Payable to Me by the Company Which Are Set Forth on Schedule a (The "Notes"), Each of Which Become Due and Payable on October 1, 1995. in View of the Covenants Under the Company's Credit Facility With Bny Financial Corp. Which Continue to Prohibit Payments of Interest or Principal Under the Notes, I Have Agreed to Extend the Maturity Date of the Notes. This Letter Shall Constitute an Amendment to Each of the Notes to Extend the Due Date Thereof Until April 1, 1996. Except as Expressly Modified Herein, All of the Provisions, Terms and Conditions Contained in the Notes, as They May Have Been Previously Amended, Shall Remain in Full Force and Effect. Very Truly Yours, \S\ Josephine Chaus Josephine Chaus Accepted and Agreed To: Bernard Chaus, Inc. By: \S\ Marc A. Zuckerman Marc A. Zuckerman, Cce, Ccm, Treasurer & Assistant Secretary Date: April 28, 1995 001SUBOR.DOC <page> <table> Schedule a Subordinated Notes Payor: Bernard Chaus, Inc. Payee: Josephine Chaus <caption> Principal and Accrued Interest at March 31, 1995 Accrued Total Principal and Principal Interest Accrued Interest Date <s> <c> <c> <c> $ 7,365,000 $1,173,304 $ 8,538,304 6/30/86 as Amended by Letters, Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 1,311,500 275,311 1,586,811 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 181,056 23,876 204,932 12/31/93 412,950 54,455 467,405 12/31/93 7,365,000 1,173,304 8,538,304 6/30/86 as Amended by Letters Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 311,500 156,056 467,556 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 181,056 23,876 204,932 12/31/93 412,950 54,455 467,405 12/31/93 $17,541,012 $2,934,637 $20,475,649 </Table>

from 10-Q 1 page <page> Josephine Chaus January 11, 1995 Board of Directors Bernard Chaus, Inc. 1410 Broadway New York, New York 10018 Re: Extension of Due Date on Subordinated Notes of Bernard Chaus, Inc. (The "Company") Gentlemen: Reference Is Made to the Subordinated Notes Payable to Me by the Company Which Are Set Forth on Schedule a (The "Notes"), Each of Which Become Due and Payable on October 1, 1995. in View of the Covenants Under the Company's Credit Facility With Bny Financial Corp. Which Continue to Prohibit Payments of Interest or Principal Under the Notes, I Have Agreed to Extend the Maturity Date of the Notes for 90 Days. This Letter Shall Constitute an Amendment to Each of the Notes to Extend the Due Date Thereof Until January 1, 1996. Except as Expressly Modified Herein, All of the Provisions, Terms and Conditions Contained in the Notes, as They May Have Been Previously Amended, Shall Remain in Full Force and Effect. Very Truly Yours, /S/ Josephine Chaus Josephine Chaus Accepted and Agreed To: Bernard Chaus, Inc. By: /S/ Wayne S. Miller Date: <page> Schedule a Subordinated Notes Payor: Bernard Chaus, Inc. Payee: Josephine Chaus Principal Amount Date $7,365,000 6/30/86 as Amended by Letters Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 $ 208,716 8/1/93 as Amended by Letter Dated 10/18/93 $1,311,500 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 181,056 12/31/93 $ 412,950 12/31/93 $7,365,000 6/30/86 as Amended by Letters Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 $ 208,716 8/1/93 as Amended by Letter Dated 10/18/93 $1,000,000 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 311,500 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 181,056 12/31/93 $ 412,950 12/31/93

from 10-Q 1 page Estate of Bernard Chaus November 9, 1994 Board of Directors Bernard Chaus, Inc. 1410 Broadway New York, New York 10018 Re: Extension of Due Date on Subordinated Notes of Bernard Chaus, Inc. (The "Company") Gentlemen: Reference Is Made to the Subordinated Notes Payable to the Estate of Bernard Chaus by the Company Which Are Set Forth on Schedule a (The "Notes"), Each of Which Become Due and Payable on July 1, 1995. in View of the Covenants Under the Company's Credit Facility With Bny Financial Corp. Which Continue to Prohibit Payments of Interest or Principal Under the Notes, the Undersigned Has Agreed to Extend the Maturity Date of the Notes for 90 Days. This Letter Shall Constitute an Amendment to Each of the Notes to Extend the Due Date Thereof Until October 1, L995. Except as Expressly Modified Herein, All of the Provisions, Terms and Conditions Contained in the Notes, as They May Have Been Previously Amended, Shall Remain in Full Force and Effect. Very Truly Yours, Estate of Bernard Chaus By: /S/ Josephine Chaus Josephine Chaus Executrix By: /S/ Daniel Rosenbloom Daniel Rosenbloom Executor Accepted and Agreed To: Bernard Chaus, Inc. By: /S/ Wayne Miller Date: 11/9/94 <page> Subordinated Notes Payor: Bernard Chaus, Inc. Payee: Estate of Bernard Chaus Principal Amount Date $7,365,000 6/30/86 as Amended by Letters Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 $ 208,716 8/1/93 as Amended by Letter Dated 10/18/93 $1,000,000* 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 311,500 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 181,056 12/31/93 $ 412,950 12/31/93 *Principal on This Note Has Been Paid; Only Accrued Interest Remains Unpaid

from 10-Q 1 page Josephine Chaus November 9, 1994 Board of Directors Bernard Chaus, Inc. 1410 Broadway New York, New York 10018 Re: Extension of Due Date on Subordinated Notes of Bernard Chaus, Inc. (The "Company") Gentlemen: Reference Is Made to the Subordinated Notes Payable to Me by the Company Which Are Set Forth on Schedule a (The "Notes"), Each of Which Become Due and Payable on July 1, 1995. in View of the Covenants Under the Company's Credit Facility With Bny Financial Corp. Which Continue to Prohibit Payments of Interest or Principal Under the Notes, I Have Agreed to Extend the Maturity Date of the Notes for 90 Days. This Letter Shall Constitute an Amendment to Each of the Notes to Extend the Due Date Thereof Until October 1, L995. Except as Expressly Modified Herein, All of the Provisions, Terms and Conditions Contained in the Notes, as They May Have Been Previously Amended, Shall Remain in Full Force and Effect. Very Truly Yours, /S/ Josephine Chaus Josephine Chaus Accepted and Agreed To: Bernard Chaus, Inc. By: /S/ Wayne Miller Date: 11/9/94 <page> Subordinated Notes Payor: Bernard Chaus, Inc. Payee: Josephine Chaus Principal Amount Date $ 7,365,000 6/30/86 as Amended by Letters Dated 6/15/88, 5/17/90, 2/21/91, 7/31/91, 10/30/92, 9/9/93, 10/18/93 and 12/31/93 $ 208,716 8/1/93 as Amended by Letter Dated 10/18/93 $ 1,311,500 8/1/93 as Amended by Letters Dated 10/18/93 and 12/31/93 $ 181,056 12/31/93 $ 412,950 12/31/93