Exhibit 10.1





                AGREEMENT EFFECTIVE MARCH 1, 2006 BY AND BETWEEN



            THE JOSEPH A. BANK MFG. CO., INC. (HAMPSTEAD DISTRIBUTION

                 CENTERS & HAMPSTEAD NATIONAL TAILORING SERVICE)


                                       AND



                  UNITE HERE MID-ATLANTIC REGIONAL JOINT BOARD












                                TABLE OR CONTENTS

ARTICLE I COVERAGE.............................................................1

ARTICLE II UNION RECOGNITION...................................................1

ARTICLE III UNION SECURITY.....................................................2

ARTICLE IV.....................................................................3

ARTICLE V REPORTING PAY........................................................5

ARTICLE VI HOURS OF WORK.......................................................6

ARTICLE VII EQUIPMENT BREAKDOWN TIME AND WAITING TIME..........................7

ARTICLE VIII VACATIONS.........................................................8

ARTICLE IX HOLIDAYS...........................................................10

ARTICLE X BEREAVEMENT PAY:....................................................12

ARTICLE XI EQUAL DIVISION OF WORK.............................................13

ARTICLE XII PAYMENT OF WAGES AND CHECKOFF.....................................13

ARTICLE XIII - INSURANCE......................................................14

ARTICLE XIV PENSION...........................................................14

ARTICLE XV HEALTH AND WELFARE FUND............................................15

ARTICLE XVI MILITARY SERVICE..................................................15

ARTICLE XVII DISCHARGES AND DISCIPLINE........................................15

ARTICLE XVIII GRIEVANCE AND ARBITRATION PROCEDURE.............................16

ARTICLE XIX CIVIL RIGHTS......................................................18

ARTICLE XX STRIKES, STOPPAGES AND LOCKOUTS....................................18

ARTICLE XXI LEAVE OF ABSENCE..................................................19

ARTICLE XXII MORE FAVORABLE PRACTICES.........................................20

ARTICLE XXIII JURY DUTY.......................................................21

ARTICLE XXIV TECHNOLOGICAL CHANGE.............................................21


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ARTICLE XXV SEPARABILITY......................................................23

ARTICLE XXVI VOLUNTARY CHECKOFF FOR POLITICAL CONTRIBUTIONS...................23

ARTICLE XXVII SAFETY AND HEALTH STUDY COMMITTEE...............................23

ARTICLE XXVIII FEDERAL FUNDS..................................................24

ARTICLE XXIX SUB PROGRAM......................................................24

ARTICLE XXX ORGANIZATIONAL HIRING.............................................24

ARTICLE XXXI PERSONAL DAYS OFF WITHOUT PAY....................................25

ARTICLE XXXII MANAGEMENT RIGHTS...............................................26

ARTICLE XXXIII SUCCESSORS AND ASSIGNS.........................................27

ARTICLE XXXIV TERM OF AGREEMENT...............................................28

EXHIBIT 1.....................................................................29

APPENDIX A....................................................................30













                                      -ii-




         AGREEMENT effective March 1, 2006 by and between The Joseph A. Bank
Mfg. Co., Inc. (hereinafter referred to as the "Employer") and the UNITE HERE
MID-ATLANTIC REGIONAL JOINT BOARD, an unincorporated association (hereinafter
referred to as the "Union"), for and on behalf of itself and the employees now
employed, or hereafter to be employed by the Employer at its Hampstead,
Maryland, Distribution Centers and National Tailoring Service branch, located at
500 Hanover Pike and 626 Hanover Pike in Hampstead, Maryland.

         In consideration of the mutual covenants, promises and agreements
herein contained, the parties hereto agree as follows:

                                    ARTICLE I

                                    COVERAGE:

         The term "Employees" as used in this Agreement shall include all
employees of the Employer's Hampstead, Maryland Distribution Centers and
Hampstead Maryland, National Tailoring Service branch in the classifications
listed in Appendix A, and shall exclude executive, administrative, office
clericals, supervisors and guards as defined in the National Labor Relations
Act. The collective bargaining agreement is gender neutral, and wherever the
pronouns "he" or "his" are used in the interests of brevity, they are intended
to mean female employees as well.

                                   ARTICLE II

                               UNION RECOGNITION:

         A.       The Employer recognizes the Union as the exclusive collective
bargaining agent for the employees in the bargaining unit described above with
reference to wages, hours and working conditions.

         B.       The Employer shall recognize and deal with such
representatives of the employees as the Union may elect or appoint and shall
permit such representatives elected or appointed by the



                                      -1-


Union to visit its Hampstead Distribution Centers and Hampstead NTS at any time
during working hours in accordance with existing rules.

         C.       The Employer agrees to make available to the Union such
payroll and production records as the Union may reasonably require as the
collective bargaining agent and/or contracting party hereunder.

                                   ARTICLE III

                                 UNION SECURITY:

         A.       In the manner and to the extent permitted by law, membership
in the Union on completion of the trial period of each employee or on and after
the 30th day following execution of this Agreement, whichever is later, shall be
required as a condition of continued employment of each employee. In the event
that the trial period is less than thirty (30) days, membership in the Union
shall not be required until thirty (30) days after the date of employment. All
employees who are now members or hereafter become members of the Union shall, as
a condition of continued employment, remain members in good standing during the
term of this Agreement.

         B.       Trial Period: Hampstead Distribution Centers and Hampstead
NTS; all new experienced employees shall have a trial period of two (2) weeks.
All new inexperienced employees shall have a trial period of ninety (90) days.

         It is agreed that the Employer shall pay to an employee who has
completed his probationary period indicated in the collective bargaining
agreement at least twenty-five (25) cents an hour above the then existing
Federal or State minimum wage, whichever is higher. This provision is not to
substitute for or supersede higher straight-time hourly rates and incentive base
rates, if any exist.




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                                   ARTICLE IV

A. WAGES:

   1.     Effective March 1, 2006, the Employer shall grant a wage increase of
          fifty cents ($0.50) per hour to all employees in the bargaining unit.

   2.     Effective March 1, 2007, the Employer shall grant a wage increase of
          fifty cents ($0.50) per hour to all employees in the bargaining unit.

   3.     Effective March 1, 2008, the Employer shall grant a wage increase of
          fifty cents ($0.50) per hour to all employees in the bargaining unit.

   4.     If an employee is temporarily transferred from one job to another at
          the request of the Employer, he shall, while working on the job to
          which he has been transferred, be paid (a) if an hourly paid employee,
          his regular hourly straight-time rate of pay prevailing at the time of
          the transfer or the hourly straight-time rate of the job to which he
          is transferred, whichever shall be higher; or (b) if an incentive paid
          employee, his regular straight time hourly incentive rate(1) or
          regular straight-time hourly rate for the job to which he is
          transferred, whichever shall be higher.

   5.     For all employees hired on and after March 1, 2006, the minimum
          starting rate shall be $9.00 per hour.

B. INCENTIVE PLAN:

   1.     During the term of this Agreement, the Employer will maintain an
          incentive earnings plan based on standard times for each position in
          the Distribution Centers which involves repetitive job tasks directly
          relating to the flow of merchandise within a


- --------------------
(1)   An incentive employee's regular straight-time hourly incentive rate is the
employee's average straight-time hourly earnings for the first twenty-six weeks
of each year, effective the pay period including August 1 of that year, and the
second twenty-six (26) weeks of the year, effective the pay period including
February 1 of the subsequent year.


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          Distribution Centers. The Employer will set rates using a time study
          based upon fair and equitable accepted industrial engineering methods.
          Incentive rates will allow a reasonably experienced and reasonably
          skilled employee working with good effort and following the prescribed
          methods to earn a bonus above the employee's regular straight time
          hourly pay for the employee's performance of his job. The Employer
          will continue its present incentive plan until any modifications are
          made as a result of the time study specified in this Article.

   2.     The Employer will maintain written job methods for all jobs to which
          an incentive earning plan applies, and job standards will be
          established according to the method described in this Article. The
          Employer may use a qualified industrial engineer to establish job
          standards and to document changes in methods, materials or equipment
          which may result in an adjustment to the job standards.

   3.     The Union reserves the right to have a Union time study engineer
          review new or changed job standards as they relate to incentive rates
          when the Employer makes such changes, or if the department average is
          regularly below standard. The study will be paid for by the Union. The
          study will be conducted at a mutually agreed upon time which will not
          interfere with the Employer's operations. Upon the Union's request,
          the parties and/or the parties' respective time study engineers will
          discuss any job standards the Employer has set for incentive earnings
          plan positions, but the Union waives any right to grieve or otherwise
          challenge the terms of the incentive earnings plan maintained by the
          Employer.

   4.     The Employer and the Union agree that a new operation, changed
          operation or different machinery may temporarily affect an Employee's
          earnings while in the



                                      -4-


          process of learning and adjusting thereto. The Employer, therefore,
          agrees that in the absence of a retraining incentive, to pay an
          Employee thus affected his regular straight time hourly incentive rate
          until a new incentive rate is fixed in accordance with provisions of
          this Article, if the job will have an incentive rate assigned to it.
          In the alternative, the Employer may use a retraining incentive which
          shall be so fixed as to enable the Employee reasonably to maintain his
          regular straight time hourly incentive rate while in the process of
          learning and adjusting to the new operation, changed operation or
          different machinery.

                                    ARTICLE V

                                 REPORTING PAY:

         Employees who report for work at their regular starting time, or at
such hour designated by the Employer, shall be paid their regular straight-time
hourly incentive rate, or regular straight-time hourly rate of pay, whichever is
applicable, for all work performed between the hour they report for work and the
hour that they are dismissed, but in no event shall they be paid less than six
(6) hours, or four (4) hours on Saturday. This clause shall not apply in the
event of power failure, fire, or other cause over which the Employer has no
control. In the case of the first five (5) hours of call in pay, failure of
other employees to report for work shall be considered cause over which the
Employer has no control only if an emergency arises which it could not foresee
and it had taken adequate steps to train and provide relief workers. Excessive
absenteeism shall relieve the Employer of the obligation to pay the sixth hour
of call in pay.







                                      -5-


                                   ARTICLE VI

                                 HOURS OF WORK:

         1.  Regular Work Week: The regular hours of work for all employees may
be eight (8) consecutive hours in any one day, from Monday to Friday inclusive.
The time when work shall begin and end each day shall be agreed upon by the
Employer and the Union.

         2.  Overtime: Time and one-half shall be paid for all work outside the
regular daily hours. As long as the regular work week shall be from Monday to
Friday inclusive, time and one-half shall be paid for all work performed on
Saturdays and double time for work performed on Sunday irrespective of the
number of hours worked during the week. Hours paid at an overtime or premium
rate (E.G., double time for Sunday work) shall not be duplicated or pyramided;
that is, the overtime and/or premium rate shall only be paid once for the same
hours.

         In the event the Employer deems it necessary for business reasons to
institute a multi-shift operation during the regular work week Monday through
Friday, inclusive, it will give the Union no less than thirty (30) days notice
of such intention, and the parties shall meet promptly for the purpose of
negotiating a shift premium(s).

         3.  In the event the Employer deems it necessary for business
reasons to adopt a seven day operation, Saturday and/or Sunday will become part
of a regular five day work week for those employees scheduled regularly to work
either or both of those days and Saturday and Sunday premium pay will not be
applicable to those employees so scheduled.

         It is further understood, however, that premium pay of time and
one-half for Saturday work and double time for Sunday work, whichever is
appropriate, will continue to be applicable to those employees for whom Saturday
or Sunday work constitutes a sixth or seventh consecutive work day.

         4.  No work shall be performed on a designated holiday except by
mutual agreement of the parties, and, if agreed upon, at double time. Overtime
pay for work on a designated holiday shall


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be in addition to holiday pay to which the employee is entitled pursuant to the
provisions hereinafter set forth in HOLIDAYS, Article IX, Sections B1 or B2,
which is applicable.

         5.  Notice of Overtime: The Employer agrees to give reasonable
notice to the employees and the appropriate union shop committee representative
when overtime is to be worked. The Employer will not require overtime until it
has made reasonable efforts, in conjunction with the Union Shop Committee, to
encourage voluntary overtime first. In the event the parties fail to fill
overtime needs with volunteers, no employee will be forced to work overtime more
than three (3) consecutive days in a work week.

                                   ARTICLE VII

                   EQUIPMENT BREAKDOWN TIME AND WAITING TIME:

         An employee paid on an incentive basis who is required to wait for work
due to equipment breakdown beyond his control shall be compensated at his
straight-time hourly incentive rate for all such waiting time in excess of
fifteen (15) minutes per day. An employee paid on an incentive basis who is
required to wait for work due to a cause beyond his control other than for
equipment breakdown shall be compensated at his straight-time hourly incentive
rate for all such waiting time in excess of thirty (30) minutes per day.
However, in no event will the combined unpaid equipment down time and waiting
time exceed thirty (30) minutes per day. Any employee who finds it necessary to
wait for work shall, on each separate occasion, notify his immediate supervisor
both at the beginning and end of such waiting period. Payment for waiting time
shall cover only such time as follows such notification. The Employer may
transfer such employees to other equipment during equipment down time, in the
same department or to another department if the employee is qualified to perform
the required work, and the employee will be paid his straight-time hourly
incentive rate.



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                                  ARTICLE VIII

                                   VACATIONS:

         A.  Hampstead Distribution Centers and NTS:

         1.  Vacation Period: It is mutually agreed that eligible employees
shall accrue vacation according to the following schedule:

         COMPLETED YEARS OF SERVICE            VACATION ENTITLEMENT
         --------------------------            --------------------

         One year but less than  two (2)       One week's vacation with pay

         Two years but less than three (3)     Two week's vacation with pay

         Three years but less than twenty(20)  Three week's vacation with pay

         Twenty years but less than twenty-    Four week's vacation with pay
         five (25)

         Twenty-five years or more             Five (5) week's vacation with pay

The pay for each vacation day will be calculated in the same manner as the pay
for a holiday is calculated pursuant to Article IX, Section B.

         2.  Individual employees may bid for an available week(s) in order of
seniority or such other rational system as mutually agreed to with the Union. If
mutually agreed to with the Union, an employee may elect to work during the
employee's week(s) of vacation at straight time in addition to vacation pay.

         3.  All scheduled vacations are subject to approval of the Employer
based upon business needs.

         4.  Where a dispute arises between two (2) or more employees seeking to
schedule the same vacation period, preference shall be determined by order of
seniority.




                                      -8-


         B.  General Vacation Conditions:

         1.  An employee who has been in the employ of the Employer a
sufficient length of time to have earned a paid vacation as herein set forth but
whose employment has been terminated because of business shall be entitled to
vacation pay pro-rated as of the date of termination of employment.

         2.  Vacation pay for weekly vacations shall be paid on the pay day
immediately preceding the applicable vacation period.

         3.  Where an employee has been regularly scheduled to work less than
the regular work week for his operation, the work eligibility and vacation pay
for such employee shall be adjusted pro-rata.

         4.  Retired and Permanently Disabled Employees: Employees who retire or
receive Federal Old Age Social Security Retirement Benefits, or become totally
and permanently disabled so as to become eligible for and subsequently receive
disability insurance benefits pursuant to the Social Security Act, as amended,
shall receive pro-rata vacation pay for any untaken vacation for which they were
eligible. The vacation pay herein provided shall be paid upon presentation to
the Employer of proof of retirement or the Certificate of Award issued by the
Social Security Administration, as appropriate.

         5.  Employees may take vacation time in one (1) day increments subject
to:

                  a. Mutual agreement between the employee and his supervisor on
         the vacation day to be taken, provided the employee requests the
         vacation day at least one full week in advance. The Company's agreement
         will not be unreasonably withheld.




                                      -9-


                  b. Where more than one (1) employee seeks to take the same
         vacation day off, the Company shall have the right to limit the number
         of employees permitted off in order not to interfere with the
         production process.

                  c. Where more than one employee seeks the same vacation day
         off and production requirements will not so permit, the choice shall be
         made by seniority.

         6.  Subject to the provisions of this Article, the Employer will
determine how many employees may be spared for vacation purposes at a given time
in each job classification and shift. Further, effective with calendar year
2007, at the beginning of each calendar year, a minimum number of vacation weeks
in each major job classification will be established which shall be selected by
employees on a seniority basis.

         7.  Vacation time is scheduled to begin as of the last day of an
employee's regularly scheduled workweek.


                                   ARTICLE IX

                                    HOLIDAYS:

         A.  1. All employees shall be entitled to the following eleven
(11) holidays with pay subject to paragraph E:

         New Years Day; National Observance of Martin Luther King, Jr.'s
Birthday;

         Good Friday; Easter Monday; Memorial Day; Independence Day; Labor Day;

         Thanksgiving Day; Friday After Thanksgiving Day; Last Weekday Prior to
Christmas Day; Christmas Day.

         The Employer and the Union may substitute two other holidays for those
listed above, by mutual agreement.




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         Should any of the above holidays fall on Saturday, the holiday will be
observed on Friday if the Saturday is not a scheduled work day. Should any of
the above holidays fall on Sunday, Monday shall be considered the holiday.

         2. In the event of back-to-back paid holidays, if an employee is absent
without reasonable excuse, either the day before or the day after the paid
holiday, he shall lose only one holiday's pay.

         B.  The pay for each holiday shall be:

             1. For employees of the Hampstead Distribution Centers who are
regularly scheduled to work forty (40) or more hours per week, eight (8) times
their regular straight-time hourly incentive rate or regular straight-time
hourly rate of pay, whichever is applicable. For employees of the Hampstead
Distribution Centers who are regularly scheduled to work less than eight (8)
hours daily, their regular straight-time hourly incentive rate or regular
straight time hourly rate of pay, whichever is applicable, times the daily hours
they are regularly scheduled to work.

             2. For Hampstead NTS employees, eight (8) times the employee's then
current straight-time hourly rate of pay.

         C.  Any employee who, without reasonable excuse, is absent from work or
who does not work all his scheduled hours on the work day before or the work day
after a holiday shall not be entitled to holiday pay. Reasonable excuse shall be
limited to the following:

             1. Illness of the employee;

             2. Death in the immediate family of the employee;

             3. Lack of work for the employee.

         D.  Notwithstanding the provisions of this Article IX, it is
understood that holiday pay shall not be paid to any employees of the Employer's
Hampstead Distribution Centers or Hampstead



                                      -11-


NTS, whichever is applicable, if such operation is shutdown for five (5)
consecutive weeks as follows:

             1. The entire two (2) weeks immediately preceding the week in which
such paid holiday occurs; and

             2. The entire week during which such paid holiday occurs; and

             3. The entire two (2) weeks immediately following the week in which
such paid holiday occurs.

         E.  Trial Period, Intervening Holidays: If a holiday falls within
the initial trial period, the employee shall receive his holiday pay on the
first full pay period following the successful completion of the trial period.
If the employee does not complete the initial trial period for any reason, no
holiday pay is payable. This paragraph shall not apply to employees who have
completed their initial trial period with any employer in contractual relations
with the Union.

                                    ARTICLE X

                                BEREAVEMENT PAY:

         A.  An employee who has been on the payroll of the Employer for
six (6) months or more shall be granted bereavement pay in the event of a death
in his immediate family.

         B.  The immediate family is defined as father, mother, sister,
brother, spouse, children, mother-in-law, father-in-law, brother-in-law,
daughter-in-law, son-in-law, grandmother, grandfather and grandchildren.

         C.  Bereavement pay shall be paid for the day before, the day of
and the day following the funeral when these days fall on days the employee
would otherwise have worked. In the event that the death occurs outside the
United States and notice thereof does not reach the employee until after the
funeral, bereavement pay shall be paid for the three (3) days following receipt
of notice provided that such days are days on which the employee would otherwise
have worked.


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         D.  For each day of bereavement leave, pay shall be calculated for
Hampstead Distribution Centers employees scheduled to work forty (40) hours per
week at the rate of eight (8) times the employee's regular straight-time hourly
incentive rate if an incentive paid employee, or eight (8) times the employee's
regular straight-time hourly rate if paid on that basis. Distribution Center
employees scheduled to work less than eight (8) hours daily shall for each day
of bereavement leave receive their regular straight-time hourly incentive rate
or regular straight-time hourly rate of pay, whichever is applicable, times the
daily hours they are regularly scheduled to work. Hampstead NTS employees shall
receive eight (8) times their regular straight-time hourly rate of pay for each
day of bereavement leave.

         E.  No bereavement pay will be granted unless the employee
notifies the Employer and requests leave. At its discretion, the Employer may
require evidence of death and kinship.

                                   ARTICLE XI

                             EQUAL DIVISION OF WORK:

         During any slack season or whenever there is insufficient work, the
available work shall be divided, insofar as is practicable, equally among all
regular employees of the Employer in order that continuity of employment may be
maintained unless the Employer and the Union shall mutually agree upon a lay-off
and the conditions applicable thereto.

         It is understood that this clause has been mutually interpreted to
provide for seniority of the employee as the basis for layoff.

                                   ARTICLE XII

                         PAYMENT OF WAGES AND CHECKOFF:

         A.  The Employer agrees to pay its employees on a prescribed day in
each week.

         B.  The Employer shall deduct from the wages of its employees upon
written authorization of the employees, union dues, initiation fees and
assessments. The amounts deducted

                                      -13-


pursuant to such authorization shall be transmitted at intervals to the properly
designated official of the Union, together with a list of names of the employees
from whom the deductions were made on forms to be provided by the Union. Sums
deducted by the Employer as union dues, initiation fees or assessments shall be
kept separate and apart from general funds of the Employer and shall be deemed
trust funds. The above mentioned monies are to be paid to the UNITE HERE
Mid-Atlantic Regional Joint Board, UNITE, immediately after it is collected at
least once a month.

                                  ARTICLE XIII

                                   INSURANCE:

         The Employer will continue its participation in the UNITE HERE National
Health Fund by continuing to make contributions at the rate of 25.69% of the
gross wages payable for the preceding pay period for all employees who have
completed their trial period (as defined in Article III.B of this Agreement).

         The Employer's obligation to make contributions to the UNITE HERE
National Health Fund shall not be increased from the amount set forth above,
other than through formal written amendment of this Agreement or with the
Employer's written consent.

                                   ARTICLE XIV

                                     PENSION

         The monthly benefit under the pension plan shall be increased to $10.25
for the year of benefit service during the period from March 1, 2006 through
February 28, 2007; be increased to $11.25 for the year of benefit service during
the period from March 1, 2007 through February 29, 2008; and be increased to
$12.25 for each year of benefit service subsequent to March 1, 2008.




                                      -14-


                                   ARTICLE XV

                            HEALTH AND WELFARE FUND:

         The Employer agrees to contribute sums of money equal to two (2)
percent of its payroll to the to be used to provide health and welfare benefits
to the members. The terms and provisions of Exhibit I attached hereto being
specifically incorporated herein by reference.

         The Employer's obligation to make contributions to the Mid-Atlantic
Regional Joint Board Health and Welfare Fund shall not be increased from the
amount set forth above, other than through formal written amendment of this
Agreement or with the Employer's written consent.

                                   ARTICLE XVI

                                MILITARY SERVICE:

         In the event that an employee enlists or is conscripted into the Armed
Forces of the United States of America or is called into service as a member of
the National Guard or Army, Navy, Air Force or Marine Corps Reserves, he shall,
upon discharge from service be reinstated with all his rights and privileges
enjoyed by him at the time he entered service; provided, that he shall request
reinstatement within the period fixed by law and provided that the Employer
shall have the right to discharge any person whom it hired by reason of the
entry into military service of the person to be reinstated.

                                  ARTICLE XVII

                           DISCHARGES AND DISCIPLINE:

         A.  No employee covered by this Agreement shall be discharged
without just cause. The Union shall present all complaints of discharge without
just cause to the Employer within seven (7) days after the discharge. If the
complaint cannot be adjusted by mutual consent, it shall be submitted to the
Arbitrator hereinafter designated in this Agreement for determination pursuant
to the procedure provided. The Arbitrator shall issue his decision and award
within seven (7) days from



                                      -15-


the conclusion of the hearing of the discharge in dispute. If the Arbitrator
finds that the employee was discharged without just cause, he shall order
reinstatement and may require the payment of back pay in such amount as, in his
judgment, the circumstances warrant. This paragraph shall not apply to an
employee during his trial period.

         B.  In the manner and to the extent permitted by law, it shall not
be a violation of this Agreement nor grounds for discharge, discipline or
permanent replacement for employees covered by this Agreement to refuse
voluntarily to cross a lawful picket line.

                                  ARTICLE XVIII

                      GRIEVANCE AND ARBITRATION PROCEDURE:

         A.  Any complaint, grievance or dispute arising under, out of or
relating directly or indirectly to the provisions of this Agreement between the
Union or any employees and the Employer, or the interpretation or performance
thereof, shall, in the first instance be taken up for adjustment by a
representative of the Union and a representative of the Employer. Any and all
matters in dispute, including a dispute concerning the interpretation or
application of the arbitration provision, which have not been adjusted pursuant
to the procedure therein provided shall be referred for arbitration and final
determination to the Arbitrator herein designated, and his decision or award
shall be final, conclusive and binding on all parties; and the parties hereby
stipulate and consent that the Arbitrator may make findings, decisions and
awards which may be enforced by appropriate judgment thereon to be entered in a
Court of Law or Equity.

         Any grievance which is submitted to arbitration shall be heard by one
of the members of a panel of three arbitrators, who shall be Jerome H. Ross,
Charles Feigenbaum, and Joseph M. Sharnoff. These arbitrators shall hear
grievances on a rotating basis in the order set forth above, provided that if
the arbitrator whose turn it is to hear a grievance cannot meet the timetable
set forth herein, the next available arbitrator shall hear the case and the
rotation shall continue from there. If


                                      -16-


none of the arbitrators can hear the case within said timetable, then the
arbitrator who can hear it first will be utilized and the rotation will continue
from there.

         Hearings shall be held no later than fifteen calendar days after the
arbitrator has received his assignment at a place mutually agreeable to the
Union and the Company. The hearing shall be conducted by the arbitrator in
whatever manner will most expeditiously permit the full presentation of all
evidence and arguments for both parties, provided, however, that the parties
shall have the right to file written briefs with the arbitrator within seven
calendar days following the closing of the hearing record.

         The award of the arbitrator shall be rendered no later than ten
calendar days from the day the hearing concluded or the briefs are submitted
unless an extension of time is mutually agreed upon by the parties. A lengthy
opinion shall not be requested or required from the arbitrator. Rather, the
arbitrator is instructed to issue an award and a summary statement of no more
than five pages which briefly sets forth the basis for the award. The parties
may request the arbitrator to notify them of his award by telephone after the
award has been mailed.

         The decision of the arbitrator shall be limited to the matter presented
to him; he shall have no authority to amend, alter or change any provision of
this Agreement. The decision of the arbitrator shall be final and conclusive on
the Company, the Union and the employee(s) involved. The arbitrator's fees and
expenses shall be borne equally by the Union and the Company.

         Except as expressly provided otherwise in the Agreement, with respect
to any dispute subject to arbitration or any claim, demand, or act arising under
the Agreement which is subject to arbitration, the procedure established in this
Agreement for the adjustment thereof shall be the exclusive means for its
determination. No proceeding or action in a court of law or equity or
administrative tribunal shall be initiated with respect thereto other than to
compel arbitration or to


                                      -17-


enforce, modify, or vacate an award. This paragraph shall constitute a complete
defense to or ground for a stay of an action instituted contrary hereto.

                                   ARTICLE XIX

                                  CIVIL RIGHTS:

         1.  The Employer and the Union shall not discriminate nor
perpetuate the effect of past discrimination, if any, against any employee or
applicants for employment on account of race, color, religion, creed, sex, or
national origin. This clause shall be interpreted broadly to be co-extensive
with all federal, state or local anti-discrimination laws and where available,
judicial interpretations thereof.

         2.  Upon the request of either party, representatives of the
Employer and the Union shall meet to review compliance with this provision and
to mutually agree upon such steps as are necessary to achieve compliance.

                                   ARTICLE XX

                        STRIKES, STOPPAGES AND LOCKOUTS:

         A.  This Agreement provides for an orderly adjustment of
differences. Strikes, stoppages, and lockouts are therefore prohibited. If a
strike, stoppage or lockout shall occur then the parties agree that any remedy
sought by either party arising from such act shall be resolved through the
medium of the arbitration machinery and the aggrieved party shall have the right
to demand an immediate hearing on twenty-four (24) hours notice before the
Arbitrator.

         B.  In the event either party fails to comply with the decision or
award of the Arbitrator within ten (10) days after service of a copy thereof,
the other party shall be free to call a strike, stoppage or lockout as the case
may be, unless the failure to comply is the result of a suit filed by either
party in the U.S. District Court for the District of Maryland within ten (10)
days from the date of receipt of the Award seeking to set aside or modify the
award.



                                      -18-


                                   ARTICLE XXI

                                LEAVE OF ABSENCE:

         A.  Leave of absence shall be granted an employee upon request if
the employee is ill or a member of his immediate family is seriously ill.
Illness shall be certified by a doctor's certificate. Leave on account of
illness shall include leave of absence in maternity cases. Leave of absence
shall be for an initial period of not more than one (1) month. In the event of a
leave of absence for personal illness including maternity, the leave of absence
may be extended to an additional period of one (1) month each up to a total of
one (1) year unless the employee was employed for less than six (6) months. In
the event of a leave of absence because of serious illness in the employee's
immediate family, the initial leave and extension shall not extend for more than
three months unless mutually agreed otherwise. Such employee shall upon return
to work from such leave be reinstated to his previous job. In the case where a
job or operation has been abolished during employee's absence such provision
shall apply to re-employment as would have applied had such employee been at
work at the time the job or operation was abolished.

         B.  Leaves of absence shall be granted for justifiable personal
reasons. The Employer may limit the number of leaves for personal reasons
granted at any given time to avoid an unreasonable effect on the Employer's
ability to operate. Such leaves may be limited to an initial period of two (2)
weeks with extensions granted by mutual agreement.

         C.  An employee who becomes a paid officer of the Union shall be
entitled to a leave of absence for the term of his office.

         D.  FAMILY AND MEDICAL LEAVE  PURSUANT TO THE FMLA ACT:

         1.  An employee who has been employed by the Employer for at least
twelve (12) months (and who has worked at least 1,250 hours during the twelve
(12) months immediately preceding the employee's request for leave under the
paragraph) shall be entitled to at least twelve



                                      -19-


(12) weeks of unpaid Family Leave, within any twelve (12) month period, without
loss of seniority rights for the following reasons:

         a.       For the birth or placement of a child for adoption or foster
                  care; or

         b.       To care for a spouse, child or parent with a serious health
                  condition as such terms are defined by the Family and Medical
                  Leave Act of 1993 ("FMLA"); or

         c.       To take medical leave when the employee is unable to work
                  because of the employee's own serious health condition as
                  defined in the FMLA.

         2.  An employee requesting Family Leave shall present satisfactory
proof of the reason for such leave.

         3.  Family Leave may be taken on an intermittent basis under 1b) and c)
above when there is a medical necessity for such intermittent leave as provided
in the FMLA.

         4.  Leave pursuant to FMLA shall be coordinated with any other leave of
absence provided for in this Agreement. They shall not be cumulated, and one
shall be offset against the other.

         E.  Child Care Facilities: The Employer and the Union shall
establish a local committee to study the availability of child care facilities.

                                  ARTICLE XXII

                            MORE FAVORABLE PRACTICES:

         Any custom or practice existing at the time of the execution of this
Agreement more favorable to the employees than the provisions hereof shall be
continued as heretofore. It is understood that this clause is to be mutually
interpreted to provide that prior contrary past practices do not prevail over
subsequently negotiated contract provisions.


                                      -20-


                                  ARTICLE XXIII

                                   JURY DUTY:

         Hampstead Distribution Centers employees scheduled to work forty (40)
hours per week and Hampstead NTS employees called for involuntary trial jury
duty will be paid each day for the period of such jury duty the difference, if
any, between the pay received for such jury duty and their regular straight-time
hourly rate or straight-time hourly incentive rate, whichever is applicable, for
up to eight (8) hours. Hampstead Distribution Centers employees called to such
jury duty who are scheduled to work less than eight (8) hours daily shall
receive for each day of jury duty the difference, if any, between the pay
received for such jury service and their straight-time hourly rate or
straight-time hourly incentive rate for the daily hours they are regularly
scheduled to work. The employee shall present a receipt for the amount of jury
duty pay received. An employee who receives a notice to serve as a juror must
notify the Employer not later than the next work day.

                                  ARTICLE XXIV

                              TECHNOLOGICAL CHANGE:

         The parties hereto anticipate the possibility of technological change
in the equipment of the Employer's Hampstead Distribution Centers and Hampstead
NTS designed to improve productivity and efficiency.

         The Employer and the Union recognize that such change should not reduce
the wages of the workers affected thereby or result in workers losing employment
provided they are capable of being trained within a reasonable period of time to
operate the new or modified equipment involved.

         In the interests of improving productivity and efficiency and at the
same time protecting the earning opportunity and job security of the employee
affected by technological change the parties hereto are agreed that:

         1.  The Employer shall give prior notice to the Union of such change.

                                      -21-


         2.  Rates for newly introduced or changed equipment shall be
established by mutual agreement.

         3.  Reasonable training periods for the new or modified equipment shall
be established by mutual agreement.

         4.  During any required training period, employees employed on the new
or modified equipment shall be paid on the basis of wages earned plus the
difference, if any, between the expected earnings under the newly established
rates and their prior earnings.

         5.  Where the new or changed equipment eliminates the need for an
employee or employees or an employee employed on the new or modified equipment
is unable after the agreed upon training period to perform the new or changed
job satisfactorily, the employee or employees so affected shall not be
terminated.

         Instead, if a job is available on a substantially equivalent operation
with the opportunity for substantially equivalent earnings, the employee or
employees may be transferred to such job or jobs. When so transferred, employees
will receive a period of re-training equal to the normal training period for
similarly experienced workers during which they will receive their former
average hourly earnings.

         If there are no jobs available on a substantially equivalent operation
with the opportunity for substantially equivalent earnings to which the affected
employee or employees may transfer, they shall have the option to (a) accept any
other available job and receive the normal training period on such job during
which they will receive their former average hourly earnings or (b) they can
leave the employee of the Employer voluntarily and receive severance pay in an
amount mutually agreed to by the Employer and the Union.




                                      -22-


         A displaced employee who at first elects to take an available job which
does not provide substantially equivalent earning opportunity, at the completion
of the normal training period may at that time elect to accept severance pay and
voluntarily leave the employ of the Employer. In that event the employee's
severance pay shall be reduced by any makeup pay paid the employee during his
normal training period.

         In the event an employee elects to accept severance pay, he shall
retain for one year his seniority and recall rights to his former job if such an
opening becomes available.

                                   ARTICLE XXV

                                  SEPARABILITY:

         Should any part or provision of this Agreement be rendered or declared
illegal by reasons of any existing or subsequently enacted legislation or by any
decree of a court of competent jurisdiction or by the decision of any authorized
government agency such invalidation of such part or provision shall not
invalidate the remainder thereof. In such event, the parties agree to negotiate
substitute provisions.

                                  ARTICLE XXVI

                 VOLUNTARY CHECKOFF FOR POLITICAL CONTRIBUTIONS:

         In the event that voluntary authorization to deduct voluntary political
contributions weekly from an individual member's pay is signed, the Employer
agrees to deduct the said amount and remit the said sum to the UNITE HERE TIP
(Attention: Tom Snyder, 275 Seventh Avenue, New York, NY 1001). The Union shall
reimburse the Employer for any expense incurred due to this provision.

                                  ARTICLE XXVII

                       SAFETY AND HEALTH STUDY COMMITTEE:

         A Safety and Health Study Committee composed of an equal number of
Management members and Union members from the bargaining unit shall be
established. It will meet regularly at



                                      -23-


dates, times, and place to be determined by the Employer after consultation with
the Union. The employees shall be paid their established hourly straight-time
rate of pay by the Employer while attending such meetings.

                                 ARTICLE XXVIII

                                 FEDERAL FUNDS:

         The Union shall cooperate with the Employer to facilitate the
availability of federal funds for training programs.

                                  ARTICLE XXIX

                                  SUB PROGRAM:

         Should the employees agree to purchase additional insurance coverage
provided by the Amalgamated Life Insurance Company, the Employer shall check off
the employees' cost of the program, upon presentation of proper authorization,
and pay the same over to the Amalgamated Life Insurance Company as required by
the contract between the employees and the Amalgamated Life Insurance Company.

                                   ARTICLE XXX

                             ORGANIZATIONAL HIRING:

         The Employer agrees that it will hire employees who have been
discharged from other employers during an organizing campaign conducted by the
Union. The Employer is not required by this Section to hire an employee who is
not qualified to perform the job that is being applied for. The Employer is not
required to employ such applicants if it does not have jobs available. Any
employee hired under this Section is subject to the Employer's regular
probationary period for new employees.

         The Employer is not required to unlawfully give preference to employees
applying under this section.



                                      -24-


         The Union will hold the Employer harmless for any liability, included
but not limited to attorney's fees imposed by enforcement of this clause.

                                  ARTICLE XXXI

                          PERSONAL DAYS OFF WITHOUT PAY

         In the administration of the Employer's Absence and Lateness Policy,
the parties are agreed that:

         1)  Starting from March 1, 2003, employees who have a perfect
attendance record for six (6) consecutive months under the criteria set forth in
the Attendance and Lateness Policy will be entitled to one (1) personal day off
without pay to be taken within the next consecutive six (6) months.

         EXAMPLE: Those employees who have perfect attendance records measured
by the six (6) consecutive months ending August 31, 2003 will thereafter be
entitled to one (1) personal day off without pay to be taken within the next
consecutive six (6) months, without that time off being counted as an
occurrence.

         2)  Personal days off shall be scheduled by mutual agreement between
the employee so entitled and his/her immediate supervisor. The Employer's
agreement shall not be unreasonably withheld.

         3)  The Employer shall have the right to limit the number of employees
who chose to take the same day as a personal day off when granting such requests
would interfere with production needs. In the event that only a certain number
of employees may be permitted to take the same personal day off, the choice
shall be decided by seniority.

         4)  Personal days off may not be cumulated and no more than two (2)
personal days off may be taken in any one contract year.



                                      -25-


                                  ARTICLE XXXII

                                MANAGEMENT RIGHTS

         A.  Except as expressly and specifically limited elsewhere in this
Agreement, the Employer reserves and retains any and all management rights
previously vested in or exercised by the Employer. Such rights of management
include, but are not limited to: control over all matters concerning the
operation, management and administration of its business; to plan, direct,
control, increase, decrease or diminish operations in whole or in part; to
determine the locations of its facilities or any parts thereof and to relocate
same; to determine services to be rendered; to subcontract work or functions, in
whole or in part; to transfer work among facilities; to discontinue or introduce
new or improved methods, techniques, processes, or equipment; to suspend,
discipline or discharge employees for just cause, or to layoff employees for
lack of work or for other causes; to separate trial period or probationary
employees during their trial/probationary period without recourse; to change the
work schedule and/or the work week; to determine when and whether overtime shall
be worked; the direction, instruction and control of employees including, but
not limited to, the determination of the qualifications and abilities of the
employees to perform the work in a satisfactory manner; to determine the
qualifications and skills required for each classification and the
qualifications and standards necessary for any of the jobs it may have or may
create in the future and whether such standards and levels are being met; to
determine the number of employees it shall employ at any one time, the number
assigned to any particular classification and the policies affecting the
selection and training of new employees; to select, hire, layoff, reclassify,
promote or transfer employees; to determine job content and to create new job
classifications or to revise the content of existing jobs; to establish
performance standards; to determine the hours of work, the starting and quitting
times, and the processes, methods and procedures to be employed; to adopt and
from time to time modify, rescind, or change and to enforce reasonable rules,
including rules of


                                      -26-


conduct and safety rules, for the orderly conduct of its operations, including
to impose discipline, up to and including discharge, for violation thereof; and
to perform all other functions inherent in the administration and/or management
of the business.

         B.  The Employer has and shall retain the right to move, sell,
close, or liquidate the facilities or operations covered by this Agreement, in
whole or in part, and to separate its employees in connection with said moving,
selling, closing, or liquidation of these facilities or any portion thereof;
however, in the event the Employer decides to do so, it will negotiate with the
Union concerning the effects thereof upon the employees. It is fully understood
and agreed that the decision to move, sell, close or liquidate shall rest solely
with the Employer and its obligation shall be limited to advising the Union
concerning such decision and negotiating with the Union over the effects thereof
on the employees.

         C.  It is expressly understood and agreed that the rights of
management set forth in this Article shall not be subject to impairment by an
arbitration award under any provision of this Agreement, and that the Union
waives any right it may have to bargain over the exercise of these rights during
the term of this Agreement. Notwithstanding the foregoing, the Union may grieve
whether a right of management is expressly and specifically limited in this
Agreement. The Employer agrees, upon the Union's request, to meet and discuss
with the Union any exercise of its Management Rights pursuant to this Article.

         D.  The Employer shall have the right to engage in alcohol and
drug testing of employees where required to do so by law or regulation.

                                 ARTICLE XXXIII

                             SUCCESSORS AND ASSIGNS:

         This Agreement shall be binding upon the parties hereto and thereafter
upon any successor, purchaser, transferee, lessee or assignee of the Employer's
Hampstead Distribution Centers and/or



                                      -27-


Hampstead National Tailoring Service. The Employer shall give notice in writing
of the existence of this Agreement to any successor, purchaser, transferee,
lessee or assignee with a copy to the Union no later than the effective date of
such purchase, sale, transfer, lessee or assignment.

                                  ARTICLE XXXIV

                               TERM OF AGREEMENT:

         This Agreement shall be effective upon the date hereof and shall remain
in full force and effect until midnight February 28, 2009. It shall be
automatically renewed from year to year thereafter unless on or before December
31, 2008, or December 31 of any year thereafter, notice in writing by certified
mail is given by either the Employer or the Union to the other of its desire to
propose changes in this Agreement or of intention to terminate the same, in
either of which events this Agreement shall terminate upon the ensuing February
28 (or 29 in a Leap Year).

         IN WITNESS WHEREOF, the parties hereto have caused their signatures to
be affixed effective the day and year hereinabove first written.


                                  THE JOSEPH A BANK MFG. CO., INC.


                                  By
                                    ---------------------------------






                                  UNITE HERE MID-ATLANTIC REGIONAL JOINT BOARD

                                  By
                                    ---------------------------------
                                    Harold L. Bock
                                    International Vice President and
                                    Regional Director


                                      -28-


                                    EXHIBIT 1

SUPPLEMENTAL AGREEMENT dated as of March 1, 2006 by and between THE JOSEPH A.
BANK MFG., CO., INC. (hereinafter called the "Employer") and the UNITE HERE
MID-ATLANTIC REGIONAL JOINT BOARD (hereinafter called the "Union").

         WITNESSETH:

         The Employer and the Union have executed a Collective Bargaining
Agreement wherein the Employer agreed to contribute 2% of its gross payroll to a
fund to be used to provide medical benefits to employees, subject to such
conditions as the Trustees may determine with reference to length of service in
the clothing industry and length of payment by the Employer of contributions to
the Fund. Subject to the provisions of Article XV of the Collective Bargaining
Agreement, the Trustees shall have the right at any time and from time to time
to modify, change, amend or terminate to any extent any or all of the terms or
provisions of such plan and to make rules and regulations to carry out the
provisions hereof.

         This SUPPLEMENTAL AGREEMENT, EXHIBIT I, is hereby made a part of the
Collective Bargaining Agreement and shall run concurrent to the date of its
expiration.

                                         THE JOSEPH A. BANK MFG. CO., INC.



                                         --------------------------------



                                         UNITE HERE MID-ATLANTIC REGIONAL JOINT
                                         BOARD



                                         -------------------------------



                                      -29-



                                   APPENDIX A

Catalog Picker
Examiner
Finisher
Housekeeper
Maintenance
Marker
Mechanic
Monogrammer
New Store Stager
Operator
Operator-OHC
Operator-RSU
Operator-RSU-2nd
Packer
Packer-2nd
Picker Presser
Put Away Stocker
Returns Processor
Returns Stocker
Ripper
RSU Scanner
Shipper
Shipper & Receiver
Tailor
Truck Driver
Vendor Dock Worker
Vendor Receiver
Vendor Receiver-2nd