Exhibit 10.20

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE AGREEMENT (“Agreement”) is made and entered into this 27th
day of February, 2010 (the “Effective Date”), by and between Kevin Douglas, with
an address at 125 E. Sir Francis Drake Blvd., Ste 400, Larkspur, CA 94939
(hereinafter referred to as “Seller”) and Stamps.com Inc., a Delaware
corporation with an address at 12959 Coral Tree Place, Los Angeles, CA  90066
(hereinafter referred to as “Stamps.com”).
 
WHEREAS, Seller is the beneficial owner and holder of 1,267,952 issued and
outstanding shares of the capital stock of Stamps.com (the “Shares”);
 
WHEREAS, Stamps.com desires to purchase the Shares from Seller and Seller
desires to sell the Shares to Stamps.com at a price of $9.00 per share;
 
NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows:
 
1.           Purchase and Sale.  As of the Effective Date and subject to the
terms and conditions as set forth herein, Seller hereby sells, conveys,
transfers and shall, as set forth in Section 3 below, deliver to Stamps.com the
Shares.
 
2.           Purchase Price.  As total consideration for the purchase and sale
of the Shares pursuant to this Agreement, Stamps.com shall pay to the Seller the
sum of $11,411,568 (the “Purchase Price”).
 
3.           Exchange of Shares and Purchase Price.  Within three (3) business
days following the Effective Date, Seller shall transfer the Shares to
Stamps.com’s accounts as set forth on Exhibit A.  The Purchase Price shall
thereafter be wired to Seller’s account as set forth on Exhibit A upon
Stamps.com’s receipt of the Shares pursuant to this Agreement.
 
4.           Representations and Warranties of Seller.  Seller hereby warrants
and represents to Stamps.com as follows:
 
(a)  Authority.  Seller has full power and authority to execute and deliver this
Agreement, and any other documents or instrument executed and delivered by
Seller in connection herewith, to perform each and all of Seller’s obligations
under and pursuant thereto and to consummate the transactions contemplated
herein. All action on the part of Seller necessary for the authorization,
execution and delivery of this Agreement, the performance of all obligations of
Seller hereunder and the sale and delivery of the Shares being sold hereunder
has been taken and no further action by Seller is necessary to consummate the
transactions contemplated by this Agreement.
 
(b)  Restrictions on Stock.  (i) Seller is not a party to any agreement, written
or oral, creating rights in respect to the Shares in any third person or
relating to the voting of the Shares; (ii) Seller is the lawful owner of the
Shares, free and clear of all security interests, liens, encumbrances, equities
and other charges; (iii) there are no existing warrants, options, stock purchase
agreements, redemption agreements, restrictions of any nature, calls or rights
to subscribe of any character relating to the Shares; (iv) there is no
proceeding pending against the Seller or, to Seller’s knowledge, threatened that
in any manner challenges or seeks, or reasonably could be expected, to prevent,
enjoin, alter or materially delay any of the transactions contemplated by this
Agreement (items (i) through (iv) collectively, the “Encumbrances”). On
consummation of the transactions contemplated by this Agreement Stamps.com shall
have good and valid title in and to the Shares, free and clear of any and all
Encumbrances.
 

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(c)           Arm’s Length; No Non-Public Information. The transactions
contemplated by this Agreement have been negotiated between Seller and
Stamps.com entirely at arm’s length, without any pre-existing written or oral
obligation on the part of either party with respect thereto.  Stamps.com has not
provided to Seller any material non-public information concerning the
operations, financial condition or prospects of Stamps.com in connection with
such transactions.
 
5.           Representations And Warranties Of Seller And Stamps.com.  Seller
and Stamps.com hereby represent and warrant to each other that there has been no
act or omission by either party which would give rise to any valid claim against
either party hereto for a brokerage commission, finder’s fee, or other like
payment in connection with the transactions contemplated hereby.  In that
regard, each such party hereby indemnifies and holds the other party harmless
from and with respect to any such claim.
 
6.           General Provisions.
 
(a) Entire Agreement.  This Agreement (including the exhibits hereto and any
written amendments hereof executed by the parties) constitutes the entire
Agreement and supersedes all prior agreements and understandings, oral and
written, between the parties hereto with respect to the subject matter hereof.
 
(b) Governing Law; Jurisdiction.  This Agreement shall be construed in
accordance with the laws of the State of California without giving effect to the
choice of law rules of California or any other jurisdiction.
 
(c) Attorneys’ Fees.  In the event of any dispute, controversy, litigation or
other proceedings concerning or related to this Agreement, the prevailing party
shall be entitled to reimbursement of all of its costs, including actual
attorney and expert witnesses fees and costs (including the reasonable value of
the services of in-house counsel), and court or arbitration fees and costs.
 
(d) Counterparts.  This Agreement may be executed in any number of counterparts,
each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same
instrument.
 
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
first written above.

SELLER
 
By: 

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Name: Kevin Douglas

STAMPS.COM INC.
12959 Coral Tree Place
Los Angeles, CA 90066

By:

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Name: Ken McBride
Title: Chief Executive Officer

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Exhibit A
 
Stamps.com Account Information

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Seller Wire Information

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