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ZUMZ > SEC Filings for ZUMZ > Form 8-K on 19-Jun-2013All Recent SEC Filings

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Form 8-K for ZUMIEZ INC


19-Jun-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry Into a Material Definitive Agreement

On June 14, 2013, Zumiez Inc. (the "Company") entered into an agreement (the "Amended Agreement") to extend its current secured credit agreement (the "Credit Agreement") with Wells Fargo Bank, N.A and amend certain financial covenants. The Credit Agreement was entered into on August 29, 2011 and was filed as Exhibit 10.18 to the report on Form 8-K filed by the Company on August 31, 2011. The Credit Agreement was set to expire September 1, 2013, and the Amended Agreement will extend the termination date to September 1, 2014. Additionally, the Amended Agreement amends the financial covenant that requires a maximum net loss not to exceed $10.0 million after taxes on a trailing four-quarter basis provided, that, there shall be added to net income all charges for impairment of goodwill and store assets not to exceed $5.0 million in aggregate. This financial covenant was amended to require a minimum net income after taxes of not less than one dollar on a trailing four-quarter basis provided, that, there shall be added to net income all charges for impairment of goodwill, other intangibles and up to an aggregate of $5 million of store asset impairment. All other material terms and conditions of the Credit Agreement will continue under the Amended Agreement.

A copy of the Amended Agreement is attached hereto as Exhibit 10.19. The preceding summary of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended Agreement.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

10.19. Amended Agreement, with Wells Fargo Bank, N.A. dated June 14, 2013


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