Summary of SUPREME INDUSTRIES INC

Item 1.01 Entry into a Material Definitive Agreement.

On December 19, 2012, Supreme Industries, Inc. (the "Borrower") entered into a Credit Agreement (the "Credit Agreement") with Wells Fargo Bank, National Association, a national banking association (the "Lender" and the "Administrative Agent").

In addition, on December 19, 2012, in connection with the Credit Agreement, Supreme Indiana Operations, Inc. ("Supreme Indiana") and certain other subsidiaries of the Borrower (collectively, the "Guarantors") entered into a Subsidiary Guaranty Agreement in favor of Lender whereby the Guarantors agreed to guarantee the obligations of the Borrower owing under the Credit Agreement (the "Subsidiary Guaranty Agreement").

Under the terms of the Credit Agreement, Lender agrees to provide to the Borrower a revolving line of credit of up to $45,000,000. The term of this revolving line of credit is for a period ending on December 19, 2017. The revolving line of credit bears interest at (i) LIBOR plus a margin which varies from 1.50% to 2.50% based upon a leverage ratio of total indebtedness to trailing four quarter EBITDA or (ii) the higher of (a) the prime rate and
(b) the federal funds rate plus 0.50% plus a margin which varies from 0.50% to 1.50% based upon the debt to EBITDA leverage ratio.

Pursuant to the terms of the Credit Agreement, the Borrower, Administrative Agent, and one or more Lenders (if there are additional lenders other than the initial Lender) intend to establish a secured term loan facility which, (i) must be secured by real property and improvements reasonably satisfactory to Administrative Agent, and (ii) must provide, pursuant to documentation in form and substance reasonably satisfactory to Administrative Agent, for one or more term loan commitments to make one or more term loans in an aggregate original principal amount of at least $10,000,000. If the parties to the Credit Agreement do not establish the secured term loan facility before March 29, 2013, then the revolving credit commitment shall be permanently reduced by $10,000,000 effective as of March 29, 2013.

A portion of the amounts received in conjunction with the Credit Agreement has been used to repay in full all of the obligations of Borrower and certain of the Guarantors owing to Wells Fargo Capital Finance, LLC (the "Existing Lender") under that certain Credit Agreement dated as of September 14, 2011, among Parent, its subsidiaries identified on the signature pages thereof as "Loan Parties," and the Existing Lender (as amended, supplemented, or otherwise modified from time to time, (the "Existing Credit Agreement").

A portion of the amounts received in conjunction with the Credit Agreement has been used to terminate a lease by exercising an option to purchase certain real estate and improvements located in the State of California which a subsidiary of Borrower had previously leased under a Lease Agreement, dated May 12, 2011, from BFG2011 Limited Liability Company, a New Jersey limited liability company ("BFG"). The option purchase price was $4,100,000. Supreme Indiana holds a 35.48% interest (4,950 Common Units) in BFG. Messrs. William J. Barrett, Edward T. Flynn, and Herbert M. Gardner, all of whom are directors of the Borrower, hold a combined ownership interest in BFG in the amount of 64.52% (9,000 Preferred Units).

A portion of the amounts received in conjunction with the Credit Agreement has been used to terminate a lease by exercising options to purchase certain real estate and improvements located in the States of Indiana and Georgia which a subsidiary of Borrower had previously leased under two separate Lease Agreements, both dated July 25, 1988, from G-2 Ltd., a Texas limited partnership ("G-2"). The option purchase prices were $3,568,426 and $1,826,160 for the Indiana and Georgia properties, respectively. Supreme Indiana is the general partner of G-2 holding a one percent interest. Messrs. Barrett, Robert J. Campbell, and Gardner, all of whom are directors of the Borrower, each hold ownership interests in G-2 in the amount of 12.375%, respectively.