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UFI > SEC Filings for UFI > Form 8-K on 22-Nov-2013All Recent SEC Filings

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Form 8-K for UNIFI INC


22-Nov-2013

Entry into a Material Definitive Agreement


1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On November 21, 2013, Unifi Manufacturing, Inc. (the "Company"), a wholly owned subsidiary of Unifi, Inc. (the "Registrant"), entered into a Second Amendment to Yarn Purchase Agreement (the "Second Amendment") with Hanesbrands Inc. ("HBI"), which amends the Yarn Purchase Agreement between the Company and HBI dated November 6, 2009 (the "Agreement"), as previously amended by the First Amendment to Yarn Purchase Agreement dated July 17, 2012. Pursuant to the Agreement as so amended, HBI has agreed to purchase certain yarns (the "Products") from the Company to fulfill a substantial portion of HBI's Products requirements in the Western Hemisphere.

The Second Amendment provides an interim extension of the term of the Agreement from December 31, 2013 (the current expiration date) to March 31, 2014, to allow the parties additional time to negotiate an anticipated longer-term extension of the Agreement. The Second Amendment also includes certain substantive adjustments to the freight pricing provision of the Agreement, which will become effective as of January 1, 2014. The Second Amendment will be filed as an exhibit to a future periodic report of the Registrant, with portions omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

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