June 1, 2007
Everlast Worldwide Inc.
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Ladies and Gentlemen:
To induce Everlast Worldwide Inc., a Delaware corporation (the "COMPANY"), to
enter into an Agreement and Plan of Merger of even date herewith (as amended and
restated, supplemented or otherwise modified from time to time, the "MERGER
AGREEMENT"), by and among ▇▇▇▇▇▇ Group Acquisitions, LLC, a Delaware limited
liability company ("PARENT"), ▇▇▇▇▇▇ Group Acquisitions, Inc., a Delaware
corporation ("MERGER SUB") and the Company, pursuant to which Merger Sub will
merge with and into the Company, the undersigned hereby absolutely,
unconditionally and irrevocably guarantee to the Company the due and punctual
performance and discharge of the greater of (a) The ▇▇▇▇▇▇ Group, LLC's
("▇▇▇▇▇▇") pro rata portion (which shall be equal to a fraction, the numerator
of which shall be the amount of ▇▇▇▇▇▇'▇ equity commitment and the denominator
of which shall be the aggregate equity commitment of all investors in Parent) of
the Parent Termination Fee and (b) 70% of the Parent Termination Fee less the
amounts guaranteed by any other guarantors pursuant to limited guarantees in
favor of the Company.
Sincerely,
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇
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