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Exhibit 10.2
HAMPSHIRE GROUP, LIMITED
1924 Pearman Dairy Road
Anderson, South Carolina 29625
March 28, 2007
CONFIDENTIAL
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Michael S. Culang
c/o Hampshire Group, Limited
1924 Pearman Dairy Road
Anderson, South Carolina 29625
Dear Mr. Culang:
This
letter will confirm our mutual understanding with respect to
certain
Change in Control protections which are being made available to you
in
connection with your appointment as the Interim President and Chief
Executive
Officer of Hampshire Group, Limited (the "Company"). Except as
expressly
specified herein, this letter is not intended to amend that that
certain
employment agreement between you and Hampshire Designers, Inc.,
dated as of July
1, 2005 (the "Employment Agreement"), which Employment Agreement
shall remain in
effect in accordance with its terms.
If
there occurs a Change in Control of the Company (as defined
below)
during your employment with the Company, upon such Change in
Control of the
Company, you may elect to terminate your employment with the
Company, and in
lieu of any severance or other similar termination payments or
benefits,
including any severance payable under the Employment Agreement, you
will be
entitled to a lump-sum amount (the "Change in Control Severance
Pay
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