**INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION.
 Exhibit 10.2
 EXECUTION COPY




---



##### 



TABLE OF CONTENTS
 Page1. CERTAIN DEFINITIONS
    
    
    11.1 Certain Definitions
    
    
    11.2 Construction
    
    
    211.3 Accounting Principles
    
    
    212. REVOLVING CREDIT AND SWING LOAN FACILITIES
    
    
    222.1 Revolving Credit Commitments
    
    
    222.2 Nature of the Lenders Obligations with Respect to Revolving Credit Loans
    
    
    242.3 Fees
    
    
    252.4 Revolving Credit Loan Requests; Swing Loan Requests
    
    
    252.5 Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent;
Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans
    
    
    262.6 Notes
    
    
    282.7 Use of Proceeds
    
    
    282.8 Letter of Credit Subfacility
    
    
    292.9 Utilization of Commitments in Optional Currencies
    
    
    362.10 Currency Repayments
    
    
    382.11 Optional Currency Amounts
    
    
    383. INTEREST RATES
    
    
    383.1 Interest Rate Options
    
    
    383.2 Interest Periods
    
    
    393.3 Interest After Default
    
    
    403.4 LIBOR Rate Unascertainable; Illegality; Increased Costs; Deposits Not Available
    
    
    403.5 Selection of Interest Rate Options
    
    
    424. PAYMENTS
    
    
    424.1 Payments
    
    
    424.2 Pro Rata Treatment of Lenders
    
    
    424.3 Sharing of Payments by Lenders
    
    
    434.4 Presumptions by Administrative Agent
    
    
    444.5 Interest Payment Dates
    
    
    444.6 Voluntary Prepayments; Reduction of Revolving Credit Commitments
    
    
    444.7 Mandatory Prepayments
    
    
    464.8 Increased Costs
    
    
    484.9 Taxes
    
    
    494.10 Indemnity
    
    
    514.11 Settlement Date Procedures
    
    
    524.12 Interbank Market Presumption
    
    
    524.13 Judgment Currency
    
    
    52
  i




---



##### 



Page5. REPRESENTATIONS AND WARRANTIES
    
    
    535.1 Representations and Warranties
    
    
    535.2 Updates to Schedules
    
    
    576. CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT
    
    
    576.1 First Loans and Letters of Credit
    
    
    586.2 Each Loan or Letter of Credit
    
    
    597. COVENANTS
    
    
    597.1 Affirmative Covenants
    
    
    597.2 Negative Covenants
    
    
    627.3 Reporting Requirements
    
    
    678. DEFAULT
    
    
    698.1 Events of Default
    
    
    698.2 Consequences of Event of Default
    
    
    729. THE ADMINISTRATIVE AGENT
    
    
    739.1 Appointment and Authority
    
    
    739.2 Rights as a Lender
    
    
    749.3 Exculpatory Provisions
    
    
    749.4 Reliance by Administrative Agent
    
    
    759.5 Delegation of Duties
    
    
    759.6 Resignation of Administrative Agent
    
    
    759.7 Non-Reliance on Administrative Agent and Other Lenders
    
    
    769.8 Administrative Agents Fee
    
    
    779.9 Authorization to Release Collateral and Guarantors
    
    
    779.10 No Reliance on Administrative Agents Customer Identification Program
    
    
    7710. MISCELLANEOUS
    
    
    7710.1 Modifications, Amendments or Waivers
    
    
    7710.2 No Implied Waivers; Cumulative Remedies
    
    
    7810.3 Expenses; Indemnity; Damage Waiver
    
    
    7810.4 Holidays
    
    
    8010.5 Notices; Effectiveness; Electronic Communication
    
    
    8110.6 Severability
    
    
    8210.7 Duration; Survival
    
    
    8210.8 Successors and Assigns
    
    
    8210.9 Confidentiality
    
    
    8510.10 Counterparts; Integration; Effectiveness
    
    
    8610.11 Choice of Law; Submission to Jurisdiction; Waiver of Venue; Service of Process; Waiver of Jury Trial
    
    
    8610.12 USA Patriot Act Notice
    
    
    88
  ii




---



##### 



LIST OF SCHEDULES AND EXHIBITS
 SCHEDULESSCHEDULE 1.1(A)
    
    -
    
    PRICING GRIDSCHEDULE 1.1(B)
    
    -
    
    COMMITMENTS OF LENDERS AND ADDRESSES FOR NOTICESSCHEDULE 1.1(P)
    
    -
    
    PERMITTED LIENSSCHEDULE 2.8
    
    -
    
    EXISTING LETTERS OF CREDITSCHEDULE 5.1(a)
    
    -
    
    QUALIFICATIONS TO DO BUSINESSSCHEDULE 5.1(b)
    
    -
    
    SUBSIDIARIESSCHEDULE 5.1(e)
    
    -
    
    MATERIAL LITIGATIONSCHEDULE 5.1(n)
    
    -
    
    ENVIRONMENTAL DISCLOSURESSCHEDULE 6.1(a)
    
    -
    
    OPINION OF COUNSELSCHEDULE 7.1(c)
    
    -
    
    INSURANCE REQUIREMENTS RELATING TO COLLATERALSCHEDULE 7.2(a)
    
    -
    
    PERMITTED INDEBTEDNESSSCHEDULE 7.2(d)
    
    -
    
    EXISTING INVESTMENTSSCHEDULE 8.1(j)
    
    -
    
    EXISTING 5% SHAREHOLDERSEXHIBITSEXHIBIT 1.1(A)
    
    -
    
    ASSIGNMENT AND ASSUMPTION AGREEMENTEXHIBIT 1.1(G)
    
    -
    
    GUARANTOR JOINDEREXHIBIT 1.1(N)(1)
    
    -
    
    REVOLVING CREDIT NOTEEXHIBIT 1.1(N)(2)
    
    -
    
    SWING LOAN NOTEEXHIBIT 2.1
    
    -
    
    LENDER JOINDEREXHIBIT 2.4
    
    -
    
    LOAN REQUESTEXHIBIT 2.8
    
    -
    
    EXISTING LETTERS OF CREDITEXHIBIT 2.4(b)
    
    -
    
    SWING LOAN REQUESTEXHIBIT 7.3(c)
    
    -
    
    QUARTERLY COMPLIANCE CERTIFICATE




---



##### 



AMENDED AND RESTATED CREDIT AGREEMENT
 AMENDED AND RESTATED CREDIT AGREEMENT Agreement GSI COMMERCE SOLUTIONS, INC. Borrower GUARANTORS LENDERS PNC BANK, NATIONAL ASSOCIATION
 BACKGROUND
 Original Agreement Section 2.1(b)
 CERTAIN DEFINITIONS.
 1.1 Certain Definitions
 Administrative Agent
 Administrative Agents Fee Section 9.8
 Administrative Agents Letter Section 9.8
 Affiliate
 Agreement
 Anti-Terrorism Laws foregoing




---



##### 



Applicable Commitment Fee Rate Schedule 1.1(A)
 Applicable Letter of Credit Fee Rate Schedule 1.1(A)
 Applicable Margin
 Schedule 1.1(A)
 Schedule 1.1(A)
 Approved Fund
 Assignment and Assumption Section 10.8 Exhibit 1.1(A).
 Authorized Officer
 Base Rate plus plus
 Base Rate Option Section 3.1(a)(i)
 Borrower
  - 2 -




---



##### 



Borrower Equity Interests Section 5.1(b)
 Borrowing Date
 Borrowing Tranche
 Business Day
 Cash Collateralize Section 4.7(c)
 Cash Equivalents provided
  - 3 -




---



##### 



Change in Law
 CIP Regulations Section 9.10
 Closing Date Section 6.1
 Code
 Collateral
 Collateral Documents Section 5.1(k)
 Commitment Commitments
 Commitment Fee Section 2.3(a)
 Compliance Certificate Section 7.3(c)
 Complying Lender
 Computation Date Section 2.9(a)
 Consolidated Adjusted EBITDA plus minus provided that
  - 4 -




---



##### 



Consolidated EBITDA minus
 Consolidated Net Worth
 Daily LIBOR Rate minus
 Delinquent Lender Section 4.3
 Dollar, Dollars, U.S. Dollars $
 Dollar Equivalent
 Dollar Equivalent Revolving Facility Usage
 Domestic Subsidiary
  - 5 -




---



##### 



Drawing Date Section 2.8(c)(i)
 EBITDA plus minus
 Environmental Laws
 Equity Interests Section 5.1(b)
 Equivalent Amount Reference Currency Equivalent Currency
 Equivalent Currency
 ERISA
 ERISA Affiliate
 ERISA Event
  - 6 -




---



##### 



ERISA Group
 Event of Default Section 8.1
 Excluded Taxes Section 4.9(e) Section 4.9(a)
 Executive Order No. 13224
 Expiration Date
 Federal Funds Effective Rate
  - 7 -




---



##### 



provided
 Federal Funds Open Rate Alternate
Source provided however
 Fixed Charge Coverage Ratio
 Fixed Charges
 Foreign Subsidiary
 Foreign Lender
 GAAP Section 1.3
 Guarantor
  - 8 -




---



##### 



Guarantor Joinder Exhibit 1.1(G).
 Guaranty
 Guaranty Agreement
 Increasing Lender Section 2.1(b)
 Indebtedness provided
 Indemnified Taxes
 Indemnitee Section 10.3(b)
 Information provided
  - 9 -




---



##### 



Insolvency Proceeding
 Intercompany Subordination Agreement
 Interest Period provided that
 Interest Rate Hedge
 Interest Rate Option
 IRS
 Issuing Lender
 Joint Venture
 Law
  - 10 -




---



##### 



Lender Provided Interest Rate Hedge
 Lenders Schedule 1.1(B)
 Letter of Credit Section 2.8(a)
 Letter of Credit Borrowing Section 2.8(c)(iii)
 Letter of Credit Fee Section 2.8(b)
 Letter of Credit Obligation plus
 Letter of Credit Sublimit Section 2.8(a)
 Leverage Ratio
 LIBOR Rate
  - 11 -




---



##### 



Alternate Source
 London interbank offered rate quoted by Bloomberg
or appropriate successor as shown onLIBOR Rate =
    
    Bloomberg Page BBAM11.00 = LIBOR Rate Reserve Percentage
  LIBO Rate
 LIBO RateLIBOR
Rate =
    
    1  LIBOR Rate Reserve Percentage
   - 12 -




---



##### 



LIBOR Rate Option Section 3.1(a)(ii)
 LIBOR Rate Reserve Percentage Eurocurrency Liabilities
 Lien
 Loan Documents
 Loan Parties
 Loan Request Section 2.4(a)
 Loans Loan
 Material Adverse Change
  - 13 -




---



##### 



Max Expense Add Back
 Total Acquisition Price
    
    Max Expense Add Backless that $50,000,000.00
    
    $1,000,000.00$50,000,000.000 or more, but less than $100,000,000.00
    
    $2,000,000.00$100,000,000.000 or more, but less than $150,000,000.00
    
    $3,000,000.00$150,000,000.000 or more, but less than $200,000,000.00
    
    $4,000,000.00$200,000,000.000 or more
    
    $5,000,000.00
 Month
 Multiemployer Plan
 New Lender Section 2.1(b)(i)
 Non-Complying Lender
 Non-Consenting Lender Section 10.1
 Notes Exhibit 1.1(N)(1)
  - 14 -




---



##### 



Obligation
 Official Body
 Order Section 2.8(i)
 Original Agreement
 Optional Currency Section 2.9(d)
 Original Currency Section 4.13(a)
 Other Currency Section 4.13(a)
 Other Lender Provided Financial Service Product
 Other Taxes
 Overnight Rate
  - 15 -




---



##### 



Parent
 Participant Section 10.8(d)
 Participation Advance Section 2.8(c)
 Patent, Trademark and Copyright Assignment
 Payment Date
 Payment In Full
 PBGC
 Pension Plan
 Permitted Investments
     Permitted Liens
   - 16 -




---



##### 



Schedule 1.1(P) provided
 provided that Schedule 1.1(P)
  provided
  - 17 -




---



##### 



Section 8.1(f)
 Permitted Repayment Section 2.5(d)
 Person
 Plan
 Pledge Agreement
 PNC Bank
 Potential Default
 Prime Rate
 Principal Office
 Prior Security Interest
  - 18 -




---



##### 



Published Rate The Wall
Street Journal
 Purchase Money Security Interest
 Ratable Share
 Reimbursement Obligation Section 2.8(c)
 Related Parties
 Relief Proceeding
 Required Lenders
      - 19 -




---



##### 



Required Share Section 4.11
 Revolving Credit Commitment Schedule 1.1(B) Revolving Credit Commitments
 Revolving Credit Loans Revolving Credit Loan Section 2.1 Section 2.8(c)
 Revolving Facility Usage
 Security Agreement
 Senior Leverage Ratio
 Settlement Date Section 2.5(e)
 Standard & Poors
 Statements Section 5.1(f)(i) Historical
Statements
 Subsidiary
 Subsidiary Equity Interests Section 5.1(b)
  - 20 -




---



##### 



Swing Loan Commitment Section 2.1(c)
 Swing Loan Note Exhibit
1.1(N)(2)
 Swing Loan Request Section 2.4(b)
 Swing Loans Swing Loan Section
2.1(c)
 Taxes
 USA Patriot Act
 1.2 Construction Eastern Standard Time
 1.3 Accounting Principles
  - 21 -




---



##### 



provided however Section 7.2 Section 7.2 Section
5.1(f)(i) Section 7.2 provided that
 REVOLVING CREDIT AND SWING LOAN FACILITIES.
 2.1 Revolving Credit Commitments .
 Revolving Credit Loans.
 provided minus Section 2.1
 Increase in Revolving Credit Commitments.
 Increasing Lenders and New Lenders nd Increasing Lender New Lender
  - 22 -




---



##### 



No Obligation to Increase
 Defaults
 Aggregate Revolving Credit Commitments
 Minimum Revolving Credit Commitments
 Resolutions; Opinion
 Notes
 Approval of New Lenders
 Increasing Lenders
 New Lenders-Joinder Exhibit 2.1
 Commitments of Lenders Schedule 1.1(B)
  - 23 -




---



##### 



Section 2.1(b) Schedule 1.1(B) Schedule 1.1(B)
 Treatment of Outstanding Loans and Letters of Credit
 Repayment of Outstanding Loans; Borrowing of New Loans Section 4.10 provided that Section 2.1(b)
 Outstanding Letters of Credit; Repayment of Outstanding Loans; Borrowing of New
Loans
 Swing Loan Commitment.
 provided that Section 2.1(c)
 2.2 Nature of the Lenders Obligations with Respect to Revolving Credit Loans Section 2.4(a) minus
  - 24 -




---



##### 



2.3 Fees .
 Commitment Fees.
 Commitment Fee times provided however provided further
 Transaction Fees.
  2.4 Revolving Credit Loan Requests; Swing Loan Requests .
 Revolving Credit Loan Requests.
 Section 3.2
  - 25 -




---



##### 



Exhibit 2.4 Loan Request provided that
 Swing Loan Requests.
 Exhibit 2.4(b) Swing Loan Request
 2.5 Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative
Agent; Repayment of Revolving Credit Loans; Borrowings to Repay Swing Loans .
 Making Revolving Credit Loans.
 Section
2.4
  - 26 -




---



##### 



Section 2.2 Section 6.2 provided that Section 2.5(b)
 Presumptions by the Administrative Agent.
 Section 2.5(a)
 Making Swing Loans.
 Section 2.4(b)
 Repayment of Loans.
   - 27 -




---



##### 



Section
7.2(n) provided that Permitted
Repayment
 Borrowings to Repay Swing Loans.
 provided Section
2.4(a) Section 2.5(e) Section 6.2
 2.6 Notes .
 2.7 Use of Proceeds . provided that
  - 28 -




---



##### 



2.8 Letter of Credit Subfacility .
 Issuance of Letters of Credit.
 Letter of Credit Schedule 2.8 Section 6 Section 2.8 provided that provided further that Letter of Credit Sublimit Section 6
   - 29 -




---



##### 



Letter of Credit Fees.
 Letter of Credit Fee provided that
 Disbursements, Reimbursement.
  Reimbursement Obligation Drawing Date Section 6.2 Section 2.8(c)(i) provided that
   - 30 -




---



##### 



Section 6.2 Letter
of Credit Borrowing Participation Advance Section 2.8(c)
 Repayment of Participation Advances.
  Section 2.8
  - 31 -




---



##### 



Documentation.
  Determinations to Honor Drawing Requests.
  Nature of Participation and Reimbursement Obligations.
 Section 2.8(c) Section 2.8
  Section 2.1 Section 2.4 Section 2.5 Section 6.2
  - 32 -




---



##### 



Section 2.8(c)
           - 33 -




---



##### 



Indemnity.
  Liability for Acts and Omissions.
   - 34 -




---



##### 



Order
  Issuing Lender Reporting Requirements.
   - 35 -




---



##### 



2.9 Utilization of Commitments in Optional Currencies .
 Periodic Computations of Dollar Equivalent Amounts of Loans and Letters of Credit
Outstanding.
  Notices From Lenders That Optional Currencies Are Unavailable to Fund New Loans.
   - 36 -




---



##### 



Notices From Lenders That Optional Currencies Are Unavailable to Fund Renewals of the
LIBOR Rate Option.
  Requests for Additional Optional Currencies.
   - 37 -




---



##### 



2.10 Currency Repayments provided however Section 2.10
 2.11 Optional Currency Amounts
 INTEREST RATES .
 3.1 Interest Rate Options . provided provided further
  - 38 -




---



##### 



Section 4.10
 Revolving Credit Interest Rate Options.
   provided that
 Swing Line Interest Rate.
  Rate Quotations.
  3.2 Interest Periods .
  - 39 -




---



##### 



Amount of Borrowing Tranche.
  Renewals.
  3.3 Interest After Default .
 Letter of Credit Fees, Interest Rate. Section 2.8(b) Section 3.1
 Other Obligations.
 Acknowledgment.
 Section 3.3
 3.4 LIBOR Rate Unascertainable; Illegality; Increased Costs; Deposits Not Available .
 Unascertainable.
   Section 3.4(c)
  - 40 -




---



##### 



Illegality; Increased Costs; Deposits Not Available.
     Section 3.4(c)
 Administrative Agents and Lenders Rights.
 Section 3.4(a) Section 3.4(b) Section 3.4(a) Section 3.4(b) Section 4.10 Section
4.6
  - 41 -




---



##### 



3.5 Selection of Interest Rate Options . Section 3.2
 PAYMENTS .
 4.1 Payments . Section 2.8 provided
 4.2 Pro Rata Treatment of Lenders .
  - 42 -




---



##### 



Section 3.4(c) Section 4.6(b) Section 4.8 Section 2.5
 4.3 Sharing of Payments by Lenders . provided
  Section 4.3 Section
4.3
 Section 4.3
  - 43 -




---



##### 



Delinquent Lender
 4.4 Presumptions by Administrative Agent .
 4.5 Interest Payment Dates . Section 4.7
 4.6 Voluntary Prepayments; Reduction of Revolving Credit Commitments .
 Right to Prepay.
 Section 4.6(b)
  - 44 -




---



##### 



Section 4.8 Section 4.10
    Section 3.4(c) Section 4.10
 Replacement of a Lender.
 Section 3.4 Section 4.8 Section 4.9 Section 10.1 Section 10.8 provided
 Section 10.8
  - 45 -




---



##### 



Section
4.10
 Section 4.8(a) Section 4.9
   Termination or Reduction of Revolving Credit Commitments.
 provided that
 4.7 Mandatory Prepayments .
 Sale of Assets.
 Section 7.2(g)
  - 46 -




---



##### 



Material Recovery Event.
  Currency Fluctuations.
 Section 4.8 Section 4.10
 Application Among Interest Rate Options.
 Section 4.7 Section 4.10
  - 47 -




---



##### 



4.8 Increased Costs .
 Increased Costs Generally.
   Section 4.9
   Capital Requirements.
   - 48 -




---



##### 



Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New
Loans.
 Section 4.8(a) Section 4.8(b)
 Delay in Requests.
 provided that
 4.9 Taxes .
 Payments Free of Taxes.
 provided
 Payment of Other Taxes by the Borrower.
 Section 4.9(a)
  - 49 -




---



##### 



Indemnification by the Borrower.
  Evidence of Payments.
  Status of Lenders.
    - 50 -




---



##### 



4.10 Indemnity . Section
4.8 Section 4.9
  Section 2.4 Section 3.2 Section 4.6
    - 51 -




---



##### 



4.11 Settlement Date Procedures . Section 2.1(c) Required Share Section 4.11 Section 2.5
 4.12 Interbank Market Presumption . Section 4.10
 4.13 Judgment Currency .
 Currency Conversion Procedures for Judgments.
 Original Currency Other Currency
  - 52 -




---



##### 



Indemnity in Certain Events.
  REPRESENTATIONS AND WARRANTIES .
 5.1 Representations and Warranties .
  Organization and Qualification; Power and Authority; Compliance With Laws; Title to
Properties; Event of Default.
 Schedule 5.1(a) Section 5.1(n)
  - 53 -




---



##### 



Subsidiaries and Owners; Investment Companies.
 Schedule 5.1(b) Subsidiary Equity Interests Borrower Equity Interests Equity Interests
 Validity and Binding Effect.
  No Conflict; Material Agreements; Consents.
   - 54 -




---



##### 



Litigation.
 Schedule 5.1(e)
 Financial Statements.
 Statements
  Margin Stock.
  Full Disclosure.
   - 55 -




---



##### 



Taxes.
  Patents, Trademarks, Copyrights, Licenses, Etc.
  Liens in the Collateral.
 Collateral Documents
 Insurance.
  ERISA Compliance.
   - 56 -




---



##### 



Environmental Matters.
 Schedule 5.1(n) provided
 5.2 Updates to Schedules . provided however
 CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT .
   - 57 -




---



##### 



6.1 First Loans and Letters of Credit .
 Deliveries.
    provided that
 Schedule 6.1(a)
     - 58 -




---



##### 



provided
   Payment of Fees.
  Completion of Due Diligence.
  6.2 Each Loan or Letter of Credit .
 COVENANTS .
  7.1 Affirmative Covenants .
 Preservation of Existence, Etc.
   - 59 -




---



##### 



Section 7.1 Section 7.2(f)
 Payment of Liabilities, Including Taxes, Etc.
  Maintenance of Insurance.
 Schedule 7.2(c)
 Maintenance of Properties and Leases.
  Visitation Rights.
 provided
  - 60 -




---



##### 



Keeping of Records and Books of Account.
  Compliance with Laws; Use of Proceeds.
 provided Section 7.1(g) Section 2.7
 Further Assurances.
  Anti-Terrorism Laws.
   - 61 -




---



##### 



7.2 Negative Covenants .
 Indebtedness.
   Schedule 7.2(a) provided Schedule 7.2(a)
    provided that Section 7.2(e)(ii) Section 7.2(n)(ii) provided further that Section 7.2
  Liens.
  Guaranties.
   - 62 -




---



##### 



Section 7.2(a)
 Loans and Investments.
      Schedule 7.2(d)
 Section 7.2(f) Section 7.2(h) Section 7.2(i) provided that Section
7.2(q)
 Dividends and Related Distributions.
 provided that
  - 63 -




---



##### 



Section 7.2(a)(vi) Section 7.2(n)(ii)
 Liquidations, Mergers, Consolidations, Acquisitions.
 provided
  Section 7.2(i)
   Section 7.2(q)
   - 64 -




---



##### 



Dispositions of Assets or Subsidiaries.
     provided
 Section 4.7(a)
 Affiliate Transactions.
  Subsidiaries, Partnerships and Joint Ventures.
 provided that
  - 65 -




---



##### 



Section 6.1 Section 7.2(f) Section 7.2(h) Section 7.2(d)(vi)(A)-(D) Section 7.2(i)
 Continuation of or Change in Business.
  Fiscal Year.
 st
 Issuance of Stock.
 provided that
 Changes in Organizational Documents.
  Repayment of Indebtedness.
 Schedule 7.2(a)
  - 66 -




---



##### 



Section 7.2(a)(vi) Section 7.2(e)(ii)
 Minimum Fixed Charge Coverage Ratio.
  Maximum Leverage Ratio.
  Minimum Liquidity.
  Foreign Subsidiaries.
  Maximum Percentage
    
    Period25%
    
    Through fiscal year end 200935%
    
    During fiscal year 2010 and through fiscal year end 201140%
    
    after fiscal year end 2011
 Maximum Senior Leverage Ratio.
  7.3 Reporting Requirements.
 Quarterly Financial Statements.
   - 67 -




---



##### 



Annual Financial Statements.
  Certificate of the Borrower.
 Section 7.3(a) Section 7.3(b) Compliance
Certificate Exhibit 7.3(c).
 Notices.
    - 68 -




---



##### 



Section 7.2(m)
    Section 7.3(b)
    DEFAULT .
 8.1 Events of Default .
 Payments Under Loan Documents.
   - 69 -




---



##### 



Breach of Warranty.
  Breach of Negative Covenants or Visitation Rights.
 Section 7.1(e) Section 7.2
 Breach of Other Covenants.
  Defaults in Other Agreements or Indebtedness.
  Final Judgments or Orders.
   - 70 -




---



##### 



Loan Document Unenforceable.
  Uninsured Losses; Proceedings Against Assets.
  Events Relating to Plans and Benefit Arrangements.
  Change of Control.
 Schedule 8.1(j)
  - 71 -




---



##### 



Relief Proceedings.
  8.2 Consequences of Event of Default .
 Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings.
  Bankruptcy, Insolvency or Reorganization Proceedings.
 Section 8.1(k)
 Set-off.
 Section 4.3
  - 72 -




---



##### 



provided that
 Application of Proceeds. Section 8.2
    THE ADMINISTRATIVE AGENT .
 9.1 Appointment and Authority .
  - 73 -




---



##### 



Section 9
 9.2 Rights as a Lender .
 9.3 Exculpatory Provisions .
  provided
  Section 10.1 Section 8.2
  - 74 -




---



##### 



Section 6
 9.4 Reliance by Administrative Agent .
 9.5 Delegation of Duties . Section 9
 9.6 Resignation of Administrative Agent .
  - 75 -




---



##### 



provided Section
9.6 Section 9 Section 10.3
 Section 9.6
 9.7 Non-Reliance on Administrative Agent and Other Lenders .
  - 76 -




---



##### 



9.8 Administrative Agents Fee . Administrative Agents Fee Administrative Agents Letter
 9.9 Authorization to Release Collateral and Guarantors . Section 7.2(g) Section 7.2(f) Section 7.2(g) Section 7.2(f)
 9.10 No Reliance on Administrative Agents Customer Identification Program . CIP
Regulations
 MISCELLANEOUS .
 10.1 Modifications, Amendments or Waivers . provided
 Increase of Commitment.
   - 77 -




---



##### 



Extension of Payment; Reduction of Principal, Interest or Fees; Modification of Terms
of Payment.
  Release of Collateral or Guarantor.
 Section 7.2(g)
 Miscellaneous.
 Section 4.2 Section 4.3 Section 10.1
 provided provided further Non-Consenting
Lender Section 4.6(b)
 10.2 No Implied Waivers; Cumulative Remedies.
 10.3 Expenses; Indemnity; Damage Waiver .
 Costs and Expenses.
   - 78 -




---



##### 



provided that
 Indemnification by the Borrower.
 Indemnitee provided
  - 79 -




---



##### 



Reimbursement by Lenders.
 Section 10.3(a) Section 10.3(b) provided
 Waiver of Consequential Damages, Etc.
 Section 10.3(b)
 Payments.
  10.4 Holidays . Section 3.2
  - 80 -




---



##### 



10.5 Notices; Effectiveness; Electronic Communication .
 Notices Generally.
 Section 10.5(b) Schedule 1.1(B)
 Section 10.5(b)
 Electronic Communications.
 provided provided provided
 Change of Address, Etc.
   - 81 -




---



##### 



10.6 Severability .
 10.7 Duration; Survival . Section 4 Section 10.3
 10.8 Successors and Assigns .
 Successors and Assigns Generally.
 Section 10.8(b) Section 10.8(d) Section 10.8(f) Section 10.8(d)
 Assignments by Lenders.
 provided
    - 82 -




---



##### 



Section 10.8(c)
  - 83 -




---



##### 



Section 3.4 Section 4.8 Section 10.3 Section 10.8(d)
 Register.
  Participations.
 Participant provided
 provided Section 10.1(a) Section 10.1(b) Section 10.1(c) Section 10.18(e) Section 3.4 Section 4.8
  - 84 -




---



##### 



Section 10.8(b) Section 8.2(c) provided Section
4.3
 Limitations upon Participant Rights Successors and Assigns Generally.
 Section 4.8 Section 4.9 Section 10.3 Section 4.9 Section 4.9(e)
 Certain Pledges; Successors and Assigns Generally.
 provided
 10.9 Confidentiality .
 General.
   - 85 -




---



##### 



Sharing Information With Affiliates of the Lenders.
 Section 10.9(a)
 10.10 Counterparts; Integration; Effectiveness .
 Counterparts; Integration; Effectiveness.
 Section 6
 10.11 Choice of Law; Submission to Jurisdiction; Waiver of Venue; Service of Process;
Waiver of Jury Trial .
 Governing Law.
   - 86 -




---



##### 



SUBMISSION TO JURISDICTION.
  WAIVER OF VENUE.
 SECTION 10.11
 SERVICE OF PROCESS.
 SECTION 10.5
  - 87 -




---



##### 



WAIVER OF JURY TRIAL.
  10.12 USA Patriot Act Notice .
  - 88 -




---



##### 



BORROWER:
GSI COMMERCE SOLUTIONS, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceGUARANTORS:
GSI COMMERCE, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President, Finance935 KOP ASSOCIATES, LLCBy:
    GSI Commerce, Inc., its sole member and managerBy:
    /s/ Michael R. ConnTitle: Executive Vice President, Finance1075 FIRST GLOBAL ASSOCIATES, LLCBy:
    GSI Commerce, Inc., its sole member and managerBy:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceGSI LEGACY HOLDINGS, INC.By:
    /s/ Michael R. ConnTitle: President




---



##### 



ASFD, INC.By:
    /s/ Michael R. ConnTitle: PresidentGSI COMMERCE CALL CENTER, INC.By:
    /s/ Michael R. ConnTitle: PresidentGSI COMMERCE SOUTH, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice PresidentGSI EQUIPMENT, INC.By:
    /s/ Michael R. ConnTitle: President7601 TRADE PORT DRIVE, LLCBy:
    GSI Commerce Solutions, Inc., its sole member and managerBy:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceONLINE DIRECT, INC.By:
    /s/ Michael R. ConnTitle: President




---



##### 



PROMOTIONS DISTRIBUTOR

SERVICES CORPORATIONBy:
    /s/ Michael R. ConnTitle: PresidentGSI INTERACTIVE, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceKOP PROMOTIONS, LLCBy:
    /s/ Michael R. ConnTitle: PresidentSILVERLIGN GROUP, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceGSI MEDIA, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President, FinanceRETAIL CONVERGENCE, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President




---



##### 



SMARTBARGAINS, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice PresidentSMARTBARGAINS SECURITY CORPORATIONBy:
    /s/ Michael R. ConnTitle: Executive Vice PresidentSB.com, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice PresidentRETAIL CONVERGENCE.com, LPBy:
    SB.com, Inc., its general partnerBy:
    /s/ Michael R. ConnTitle: Executive Vice PresidentSHOPRUNNER, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice PresidentE-DIALOG, INC.By:
    /s/ Michael R. ConnTitle: Executive Vice President




---



##### 



PNC BANK, NATIONAL ASSOCIATION, 
individually and as Administrative AgentBy:
    /s/ John M. DiNapoliName:
    John M. DiNapoliTitle:
    Sr. Vice President




---



##### 



BANK OF AMERICA, N.A.By:
    /s/ Andrew RichardsName:
    Andrew RichardsTitle:
    Senior Vice President




---



##### 



HSBC BANK USA, N.A.By:
    /s/ Susan A. WatersName:
    Susan A. WatersTitle:
    VP, Senior Relationship Manager




---



##### 



SOVEREIGN BANKBy:
    /s/ Dennis WasilewskiName:
    Dennis WasilewskiTitle:
    Senior Vice President




---



##### 



TD BANK, N.A.By:
    /s/ Thomas M. McGroryName:
    Thomas M. McGroryTitle:
    Vice President




---



##### 



MORGAN STANLEY BANKBy:
    /s/ Sherrese ClarkeName:
    Sherrese ClarkeTitle:
    Authorized Signatory




---



##### 



DEUTSCHE BANK AG NEW YORK BRANCHBy:
    /s/ Stefan FreckmannName:
    Stefan FreckmannTitle:
    Vice PresidentBy:
    /s/ Oliver SchwarzName:
    Oliver SchwarzTitle:
    Director




---



##### 



UBS LOAN FINANCE LLCBy:
    /s/ Ifja R. OtsaName:
    Ifja R. OtsaTitle:
    Associate Director, Banking Products
Services, USBy:
    /s/ Mary E. EvansName:
    Mary E. EvansTitle:
    Associate Director, Banking Products
Services, US




---



##### 



JPMORGAN CHASE BANK, N.A.By:
    /s/ James A. KnightName:
    James A. KnightTitle:
    Vice President




---



##### 



SCHEDULE 1.1(A)

PRICING GRID
VARIABLE PRICING AND FEES BASED ON LEVERAGE RATIO
(PRICING EXPRESSED IN BASIS POINTS)
 Commitment
    
    
    Base Rate
    
    
    LIBOR RateLevel
    
    Leverage Ratio
    
    Fee
    
    
    Spread
    
    
    SpreadI
    
    Positive, but less than or equal to 2.0 to 1.0
    
    
    0.4
    %
    
    
    1.0
    %
    
    
    2.0
    %II
    
    Greater than 2.0 to 1.0 but less than or equal to 2.5 to 1.0
    
    
    0.4
    %
    
    
    1.25
    %
    
    
    2.25
    %III
    
    Greater than 2.5 to 1.0 but less than or equal to 3.0 to 1.0
    
    
    0.4
    %
    
    
    1.5
    %
    
    
    2.5
    %IV
    
    Greater than 3.0 to 1.0 but less than or equal to 3.5 to 1.0
    
    
    0.4
    %
    
    
    1.75
    %
    
    
    2.75
    %V
    
    Greater than 3.5 to 1.0 or negative
    
    
    0.4
    %
    
    
    2.25
    %
    
    
    3.25
    %
   Section 7.3(c) provided that




---



##### 



Section
2.8 Section 3.3 Section 8




---



##### 



SCHEDULE 1.1(B)
 COMMITMENTS OF LENDERS AND ADDRESSES FOR NOTICES
  Part 1  Commitments of Lenders and Addresses for Notices to Lenders
 Amount of Commitmentfor Revolving CreditLender
    
    Loans
    
    
    Ratable ShareName: PNC Bank, National Association 
Address: 1000 Westlakes Drive, Suite 200
Berwyn PA 19312
Attention: John DiNapoli 
Telephone: (610) 725-5760
Telecopy:   (610) 725-5799
    
    $
    31,250,000.00
    
    
    
    20.833333333
    %Name: Bank of America, N.A. 
Address: 1600 John F. Kennedy Boulevard, 11th FL. 
Philadelphia, PA 19103
Attention: Andrew Richards III 
Telephone: (267) 675-0385
Telecopy:   (267) 675-0219
    
    $
    31,250,000.00
    
    
    
    20.833333333
    %Name: Deutsche Bank AG New York Branch 
Address: 225 Franklin Street 24th Fl. Boston, MA 02110
Attention: David Dickinson 
Telephone: (617) 217-6381
Telecopy:   (617) 217-6300
    
    $
    15,000,000.00
    
    
    
    10.000000000
    %




---



##### 



Amount of Commitmentfor Revolving CreditLender
    
    Loans
    
    
    Ratable ShareName: JPMorgan Chase Bank, N.A. 
Address: 277 Park Ave., 23rd Fl. New York, NY 10172
Attention: James Knight 
Telephone: (212) 622-8486
Telecopy:   (646) 534-3081
    
    $
    15,000,000.00
    
    
    
    10.000000000
    %Name: TD Bank, N.A. 
Address: 2005 Market Street, 2nd Floor 
Philadelphia, PA 19103
Attention: Thomas M. McGrory 
Telephone: (215) 282-3851
Telecopy:   (215) 557-6209
    
    $
    15,000,000.00
    
    
    
    10.000000000
    %Name: HSBC Bank USA 
Address: 1515 Market Street, Suite 110
Philadelphia, PA 19102
Attention: Colleen Glackin
Telephone: (215) 575-9103
Telecopy:   (215) 563-1901
    
    $
    15,000,000.00
    
    
    
    10.000000000
    %Name: Sovereign Bank 
Address: 1500 Market Street, 
Philadelphia, PA 19102
Attention: Dennis Wasilewski 
Telephone: (267) 256-2828
Telecopy:   (215) 568-5914
    
    $
    15,000,000.00
    
    
    
    10.000000000
    %Name: UBS Loan Finance LLC 
Address: 677 Washington Blvd. 
Stamford, CT 06901
Attention: Jenny E. Milioti 
Telephone: (203) 719-5993
Telecopy:   (203) 719-3888
    
    $
    7,500,000.00
    
    
    
    5.000000000
    %




---



##### 



Amount of Commitmentfor Revolving CreditLender
    
    Loans
    
    
    Ratable ShareName: Morgan Stanley Bank 
Address: One Pierrepont Plaza 7th Fl. 
300 Camden Plaza West 
Brooklyn, NY 11201
Attention: Daniel Twenge 
Telephone: (718) 754-7285
Telecopy:   (718) 754-7250
    
    $
    5,000,000.00
    
    
    
    3.333333334
    %Total
    
    $
    150,000,000.00
    
    
    
    100.000000000
    %




---



##### 



SCHEDULE 1.1(B)
 COMMITMENTS OF LENDERS AND ADDRESSES FOR NOTICES
  Part 2  Addresses for Notices to Borrower and Guarantors:
 BORROWER:
 
 GUARANTORS:




---



##### 








---



##### 








---



##### 








---



##### 








---



##### 



GSI Commerce Solutions, Inc.
  UCC DebtorPennsylvania
    
    Department of State, Uniform Commercial Code Section
    
    1/12/2007
2007011201980
PNC Equipment Finance, LLC
Collateral: equipment lease (lessee/lessor)4/11/2007
2007041107227
Marlin Leasing Corp.
Collateral: equipment lease11/25/2009
2009112504104
Raymond Leasing Corporation
Collateral: specified equipment (lessee/ lessor)GSI Commerce, Inc.UCC DebtorDelaware
    
    Secretary of State
    
    3/13/2009
90875127
First Western Bank and Trust
Collateral: specified equipment




---



##### 



GSI Equipment, Inc.UCC DebtorNew York
    
    Secretary of State
    
    11/24/2009
200911246055446
IBM Credit LLC
Collateral: specified equipment (lessee/ lessor)GSI Commerce Call Center, Inc.UCC DebtorFlorida
    
    Secured Transaction Registry
    
    10/27/2006
200603998303
GFC Leasing, a Division of Gordon Flesch Co., Inc.
Collateral: equipment lease (lessee/lessor)10/27/2006
200603998281
GFC Leasing, a Division of Gordon Flesch Co., Inc.
Collateral: equipment lease (lessee/lessor)2/9/2009
200909990849
Eau Claire County
Collateral: all assetsGSI Commerce South, Inc. (formerly known as Accretive Commerce, Inc. and NewRoads, Inc.)UCC DebtorDelaware
    
    Secretary of State
    
    4/1/2005
50997271
Crown Credit Company
Collateral: equipment
8/21/2006
62904266
IBM Credit LLC
Collateral: equipment
12/13/2006
64413373
First Western Bank & Trust
Collateral: equipment




---



##### 



10/10/2008
83438569
BB&T Equipment Finance Corporation
Collateral: specified equipment
11/13/2008
83804448
BB&T Equipment Finance Corporation
Collateral: leased equipment
11/20/2009
93730477
Ikon Financial Svcs
Collateral: leased equipment (lessee/ lessor)
4/1/2005
50997271
Crown Credit Company
Collateral: equipmentAmendment(debtor name change to Accretive Commerce, Inc.)
9/1/20065/11/2005
51443051
BBH Financial Services Company
Collateral: equipment




---



##### 



5/11/2005
51443176
BBH Financial Services Company
Collateral: equipment
6/15/2005
51834655
IOS Capital
Collateral: equipment lease (lessee/lessor)10/17/2007
73908414
Ikon Financial Services
Collateral: equipment lease (lessee/lessor)
 935 HQ Associates, LLC
  E-Dialog, Inc.
 UCC DebtorDelaware
    
    Secretary of State
    
    7/22/2005
52268713
Vencore Solutions LLC
Collateral: Equipment Lease (Lessee/Lessor)Assignment(Boston Financial & Equity Corporation)
7/27/20059/13/2005
52908326
Banc of America Leasing & Capital, LLCCollateral: Equipment and specified rights, third party claims,
software, proceeds and books and records in connection therewith9/13/2005
52908557
Banc of America Leasing & Capital, LLC
Collateral: Equipment
and specified rights, third party claims, software, proceeds and
books and records in connection therewith




---



##### 



9/14/2005
52921295
General Electric Capital CorporationCollateral: In lieu
for 4/21/2004 MA SOS filing (equipment)
10/4/2005
53116762
Banc of America Leasing & Capital, LLCCollateral: Equipment and specified rights, third party claims, software, proceeds and books and records in connection therewith
10/4/2005
53116820
Banc of America Leasing & Capital, LLC
Collateral: Equipment and specified rights, third party claims, software, proceeds and books and records in connection therewith
11/14/2005
53594711
General Electric Capital Corporation
Collateral: Equipment Lease
11/22/2005
53613065
Banc of America Leasing & Capital, LLCCollateral: Equipment and specified rights, third party claims, software, proceeds and books and records in connection therewith




---



##### 



11/22/2005
53613230
Banc of America Leasing & Capital, LLCCollateral: Equipment and specified rights, third party claims, software, proceeds and books and records in connection therewith
4/23/2007
71512952
De Lage Landen Financial Services Corporation
Collateral: Equipment
4/16/2008
81328630
US Express Leasing, Inc.
Collateral: leased equipment
 Retail Convergence, Inc.UCC DebtorDelaware
    
    Secretary of State
    
    9/17/2008
83140884
John Hardy USA Inc.Collateral: rights in specified trademarks that have been consigned by Secured Party to DebtorRetail Convergence.com, LPUCC DebtorDelaware
    
    Secretary of State
    
    7/18/2008
82539433
De Lage Landen Financial Services, Inc.
Collateral: equipment lease (lessee/ lessor)




---



##### 



SmartBargains, Inc.UCC DebtorDelaware
    
    Secretary of State
    
    2/26/2007
70721935
Eugene Biro Borp. [sic]
Collateral: diamond jewelry (consigned merchandise)
7/18/2008
82539425
De Lage Landen Financial Services, Inc.Collateral: lease guaranty (for Retail Convergence.com, LP; lessee/ lessor)MBS Insight, Inc.UCC DebtorNew York
    
    Secretary of State
    
    4/2/2003
200304020732239
American Express Business Finance Corporation
Collateral: equipment lease (lessee/ lessor)
10/15/2009
200910150594554
De Lage Landen Financial Services, Inc.
Collateral: equipment lease (lessee/ lessor)




---



##### 



Fetchback, Inc.UCC DebtorDelaware
    
    Secretary of State
    
    4/1/2008
20081130390
Bank of America Lease & Capital, LLC
Collateral: equipment lease (lessee/ lessor)
5/20/200820081732005
Dell Financial Services L.L.C.
Collateral: equipment lease (lessee/ lessor)
4/27/2010
200101468135
US Bancorp
Collateral: equipment lease (lessee/ lessor)
Security interest granted by Equipment Lease/Finance Agreement dated March 31, 2009 between Axis Capital Inc. and Fetchback, Inc.
Security interest granted by Equipment Lease Agreement No. 915077, dated May 9, 2007 between Axis Capital Inc. and Fetchback, Inc.
Security interest granted by Equipment Lease Agreement No. 915077, dated June 6, 2007 between Axis Capital Inc. and Fetchback, Inc.




---



##### 



AMOUNT
    
    LC#
    
    EXPIRY DATE136,000.00
    
    **
    
    1/22/2011129,862.60
    
    **
    
    11/11/201038,059.80
    
    **
    
    2/25/2011106,708.50
    
    **
    
    3/17/20111,000,000.00
    
    **
    
    6/8/201091,000.00
    
    **
    
    7/15/20104,686,630.75
    
    **
    
    5/20/2011250,000.00
    
    **
    
    3/30/2011500,000.00
    
    **
    
    3/30/2011250,000.00
    
    **
    
    3/30/2011




---



##### 








---



##### 



Percentage of EquityInterest OwnedJurisdiction of
    
    Type of Equity
    
    Amount of
    
    Directly or IndirectlyName
    
    Organization
    
    Interest
    
    Equity Interest
    
    by ParentGSI Commerce Solutions, Inc.
    
    Pennsylvania
    
    Common Stock
    
    100 shares
    
    
    100
    %GSI Equipment, Inc.
    
    New York
    
    Common Stock
    
    100 shares
    
    
    100
    %**7601 Trade Port Drive, LLC
    
    Kentucky
    
    Limited Liability Company Interest
    
    10 units
    
    
    100
    %**935 KOP Associates, LLC
    
    Pennsylvania
    
    Limited Liability Company Interest
    
    10 units
    
    
    100
    %935 HQ Associates, LLC
    
    Delaware
    
    Limited Liability Company Interest
    
    10 units
    
    
    100
    %1075 First Global Associates, LLC
    
    Pennsylvania
    
    Limited Liability Company Interest
    
    10 units
    
    
    100
    %GSI Legacy Holdings, Inc.
    
    Pennsylvania
    
    Common Stock
    
    100 shares
    
    
    100
    %ASFD, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %GSI Commerce Call Center, Inc.
    
    Florida
    
    Common Stock
    
    100 shares
    
    
    100
    %GSI Luxembourg S.à.r.l
    
    Luxembourg
    
    Limited Liability Company (Societe a Responsabilite Limitee) Interest
    
    125 shares
    
    
    100
    %




---



##### 



Percentage of EquityInterest OwnedJurisdiction of
    
    Type of Equity
    
    Amount of
    
    Directly or IndirectlyName
    
    Organization
    
    Interest
    
    Equity Interest
    
    by ParentGSI Commerce Solutions International, S.L.
    
    Spain
    
    Limited Liability Company (Sociedad de Responsabilidad Limitada) Interest
    
    46,480 shares
    
    
    100
    %**Zendor/GSI Commerce Limited
    
    United Kingdom
    
    Limited Company Interest
    
    1,010 shares comprising 750 A Shares, 250 B Shares, and 10 C Shares
    
    
    100
    %**GSI Commerce South, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %Online Direct, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**Promotions Distributor Services Corporation
    
    California
    
    Common Stock
    
    1,000 shares
    
    
    100
    %**E-Dialog, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %E-Dialog UK Limited
    
    England and Wales
    
    Limited Company Interest
    
    1 ordinary share
    
    
    100
    %**GSI Interactive, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**KOP Promotions, LLC
    
    Virginia
    
    Limited Liability Company Interest
    
    100 units
    
    
    100
    %**Silverlign Group, Inc.
    
    California
    
    Common Stock
    
    400,000 shares
    
    
    100
    %**GSI Commerce Solutions Canada Corp.
    
    New Brunswick, Canada
    
    Common Shares
    
    100 shares
    
    
    100
    %




---



##### 



Percentage of EquityInterest OwnedJurisdiction of
    
    Type of Equity
    
    Amount of
    
    Directly or IndirectlyName
    
    Organization
    
    Interest
    
    Equity Interest
    
    by ParentGSI Media, Inc. (f/k/a Peanut Butter Corporation)
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**Retail Convergence, Inc.
    
    Delaware
    
    Common Stock
    
    964.4635 shares
    
    
    100
    %Preferred Stock
    
    35.5365 sharesSmartBargains, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**SmartBargains Security Corporation
    
    Massachusetts
    
    Common Stock
    
    1000 shares
    
    
    100
    %**SB.com, Inc.
    
    Delaware
    
    Common Stock
    
    1000 shares
    
    
    100
    %**Retail Convergence.com, LP
    
    Delaware
    
    Partnership interests
    
    99% limited partner interest and 1% general partner interest
    
    
    100
    %**ShopRunner, Inc.
    
    Pennsylvania
    
    Common Stock
    
    100 shares
    
    
    100
    %M3 Mobile, Incorporated
    
    Pennsylvania
    
    Common Stock
    
    10,000 shares
    
    
    100
    %**MBS Insight, Inc.
    
    Delaware
    
    Common Stock
    
    1,000 shares
    
    100% (through E-Dialog, Inc.)VendorNet, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**GSI Marketing Solutions, Inc.
    
    Pennsylvania
    
    Common Stock
    
    100 shares
    
    
    100
    %Fetchback, Inc.
    
    Delaware
    
    Common Stock
    
    100 shares
    
    
    100
    %**GSI Commerce Japan K.K.
    
    Japan
    
    Common Stock
    
    100 common shares
    
    
    100
    %e-Dialog Singapore Private Ltd.
    
    Singapore
    
    Limited Company Interest
    
    100 shares
    
    
    100
    %**




---



##### 



Percentage ofType of Equity
    
    
    Amount of
    
    
    Equity InterestName
    
    Interest
    
    
    Equity Interest
    
    
    Owned by ParentGSI Commerce Solutions, Inc.
    
    Common Stock
    
    100 shares
    
    
    100
    %




---



##### 



Jurisdiction of
    
    
    PublicName
    
    Organization
    
    
    Company
    
    
    OwnerGSI Commerce, Inc.
    
    Delaware
    
    Yes
    
    Publicly Held




---



##### 








---



##### 








---



##### 








---



##### 



Re: $150,000,000 Amended and Restated Credit Agreement/GSI
Commerce Solutions, Inc.




---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 








---



##### 



EXHIBIT 1.1(a)   ASSIGNMENT AND ASSUMPTION AGREEMENT
 Credit
Agreement Borrower Agent Section 1.2
 Assigned Interest




---



##### 



AggregateAmount of
    
    
    
    
    
    
    PercentageCommitment/Loans
    
    
    Amount of Revolving
    
    
    Assigned of Revolvingof such Facility for
    
    
    Credit Commitment
    
    
    CreditFacility Assigned
    
    all Lenders
    
    
    Assigned
    
    
    CommitmentRevolving Credit Commitment
    
    $
    150,000,000.00
    
    
    $
    
    
    
    
    
    %
  [NAME OF ASSIGNOR]By:Name:Title:[NAME OF ASSIGNEE]By:Name:Title:Notice Address:Telephone No.:Telecopier No.:Attn:
 
 PNC BANK, NATIONAL ASSOCIATIONBy:Name:Title:




---



##### 



Representations and Warranties
 Assignor
 Assignee




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Payments
 General Provisions




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EXHIBIT 1.1(G)
GUARANTOR JOINDER AND ASSUMPTION AGREEMENT
 New Guarantor
 Background
 Credit Agreement Borrower Lenders Administrative Agent Guaranty
Agreement Pledge Agreement Security Agreement Loan Documents
 Agreement




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NEW GUARANTOR SHALL CAUSE BORROWER TO PROVIDE SUCH ADDITIONAL DOCUMENTS AS REQUIRED BY SECTION
7. 2(i) OF THE CREDIT AGREEMENT.
  ATTEST:By:
    
    
    
    
    (SEAL)Name:
    
    
    
    
    
    Name:Title:
    
    
    
    
    
    Title:
   By:Name:Title:




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EXHIBIT 1.1(N)(1)
 FORM OF
REVOLVING CREDIT NOTE
 $
    
    Pittsburgh, Pennsylvania
Original date: January 11, 2008
Amended and restated: , 2010
 Borrower  Lender  Section 2  Credit Agreement
 Section 3. 1(a)
 Section 3.3




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ATTEST:
    
    GSI COMMERCE SOLUTIONS, INC.By:Title:
    
    Title:[Seal]




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EXHIBIT 1.1(N)(2)
SWING LOAN NOTE
 $15,000,000
    
    Pittsburgh, Pennsylvania
Original date: January 11, 2008
Amended and restated: , 2010
 Borrower Bank  Credit Agreement Section 3. 1(b)
 Section 3.3
   ON DEMAND




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provided Section 10.8
    GSI COMMERCE SOLUTIONS, INC.By:
    
    [Seal]Name:Title:




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EXHIBIT 2.1
 LENDER JOINDER AND ASSUMPTION AGREEMENT
 New Lender
 Background
 Credit Agreement Borrower Lenders Administrative Agent Loan Documents
 Agreement
  Section 2.1(b) Section 2.1(b) plus Section 2




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ATTEST:By:
    
    (SEAL)Name:
    
    Name:Title:
    
    Title:
 Acknowledged and accepted:
PNC BANK, NATIONAL ASSOCIATION, as Administrative AgentBy:Name:Title:




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Commitments of New Lender and Address for Notices
 Amount of Revolving CreditNew Lender
    
    Commitment
    
    
    Ratable ShareName:
    
    $
    
    
    
    
    
    %Address:Telephone:Telecopy:




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EXHIBIT 2.4
 LOAN REQUEST FORM
 TO:
    
    PNC Bank, National Association, as Administrative AgentTelephone No.: (412) 762-7196Telecopier No.: (412) 705-2006Attention: Andrea GibbFROM:
    
    GSI Commerce Solutions, Inc.RE:
    
    Amended and Restated Credit Agreement (as it may have been or may
hereafter be amended from time to time, the Agreement) dated as of
, 2010 by and between GSI Commerce Solutions, Inc.,
(the Borrower), the Guarantors now or hereafter party thereto, PNC
Bank, National Association, as administrative agent for the Lenders,
(the Administrative Agent) and the Lenders now or hereafter party
thereto.
 A.
    
    Pursuant to Section 2.4of the Agreement, the undersigned hereby makes the
following Revolving Credit Loan Request:
 1.
    
    Aggregate Principal Amounts of the Loans Requested Hereunder
 (a)
    
    Amount to be advanced in US Dollars
    
    $(b)
    
    in British Pounds Sterling(c)
    
    in Euros(d)
    
    in Canadian Dollars(e)
    
    in Japanese Yen(f)
    
    in Danish Kroner(g)
    
    in Swedish Krona(h)
    
    in Swiss Franc(i)
    
    in Norwegian Krone(j)
    
    in Australian Dollars(k)
    
    in another currency (requires all Lenders consent)2.
    Aggregate Amount of Loans Subject to LIBOR Rate Option(a)
    
    subject to One Month Interest Period
(only option available for Optional Currency Advance)(b)
    
    subject to Two Month Interest Period(c)
    
    subject to Three Month Interest Period(d)
    
    subject to Six Month Interest Period




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3.
    
    Aggregate Amount of Loans Subject to Base Rate Option (US Dollar advances only)4.
    
    Proposed Borrowing Date:
 B.
    
    Pursuant to Section 3.1of the Agreement, the undersigned requests that the
following Loans presently outstanding be converted to the Interest Rate Option
indicated below on the dates indicated below, which dates, the undersigned represents
and warrants, as to any Loans previously earning interest at the LIBOR Rate Option, are
the last days of the then current Interest Periods.
 
  
  
 C.
    
    As of the date hereof and the date of making of the Loans: the representations
and warranties contained in Section 5of the Agreement are and will be true (except
representations and warranties that expressly relate solely to an earlier date or time,
which representations and warranties were true on and as of the specific date referred
to therein) in all material respects; the Borrower has performed and complied with all
covenants of the Agreement; all conditions for the making of the Loans under the
Agreement have been satisfied; no Event of Default or Potential Default has occurred
and is continuing or shall exist; and the making of the Loans shall not contravene any
Law applicable to the Borrower.




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GSI COMMERCE SOLUTIONS, INC.Date:
    By:Its:




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EXHIBIT 2.4(B)
 SWING LOAN REQUEST FORM
 TO:
    
    PNC Bank, National Association, as Administrative AgentTelephone No.: (412) 762-7196Telecopier No.: (412) 705-2006Attention: Andrea GibbFROM:
    
    GSI Commerce Solutions, Inc.RE:
    
    Amended and Restated Credit Agreement (as it may have been or may
hereafter be amended from time to time, the Agreement) dated as of
_____, 2010 by and between GSI Commerce Solutions, Inc.,
(the Borrower), the Guarantors now or hereafter party thereto, PNC
Bank, National Association, as administrative agent for the Lenders,
(the Administrative Agent) and the Lenders now or hereafter party
thereto.
 Section 2. 4(c)
 1.
    
    Aggregate Principal Amount of the Loans
Requested Hereunder
    
    $___________2.
    
    Proposed Borrowing Date:
    
    ____________
    GSI COMMERCE SOLUTIONS, INC.Date:
    
    
    
    By:Its:




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EXHIBIT 7.3(C)
FORM OF QUARTERLY COMPLIANCE CERTIFICATE
 Credit Agreement Borrower Company Agent
    Annex
1
 Actual
    
    RequiredPrepayment of Indebtedness
    
    ___________
    
    not more than $___________
1Leverage Ratioratio of consolidated Indebtedness
divided by
    
    ___________Consolidated Adjusted EBITDA
    
    ___________Leverage Ratio
    
    ___________
    
    not more than 4.00 to 1.00
 
 1
    
    Refer to Section 7.2(n) of Credit Agreement to
determine applicable maximum amount.




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Fixed Coverage Ratioratio of Consolidated EBITDA divided by
    
    ___________Fixed Charges
    
    ___________Fixed Charge Coverage Ratio
    
    ___________
    
    not less than 2.5 to 1.00Cash and Cash Equivalents
    
    ___________
    
    not less than $30,000,000.002Senior Leverage Ratioratio of secured consolidated Indebtedness divided by
    
    ___________Consolidated Adjusted EBITDA
    
    ___________Senior Leverage Ratio
    
    ___________
    
    not to exceed 2.5 to 1.00Foreign SubsidiariesThe Companys Foreign Subsidiariesown consolidated assets equal to
    
    ___________The Companys consolidated total assets
    
    ___________Percentage owned by Foreign
Subsidiaries
    
    ___________
    
    not more than ___________%3Maximum repayment, redemptions, dividends, distribution, and subordinate indebtedness maturing
prior to April 1, 2013.Aggregate repayments, redemptions
and repurchase of Indebtedness
(other than the first $57,500,000 of 3%
Convertible Notes due 2025)
    
    ___________plusAggregate Subordinated Indebtedness
due prior to April 1, 2013
    
    ___________plus
 
 2
    
    of which not less than $25,000,000.00 shall be owned by
the Parent, the Borrower and/or the Domestic Subsidiaries and maintained in the
United States. Refer to Section 7.2(q) of Credit Agreement.3
    
    refer to Section 7.2(r) for applicable percentage.




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Aggregate dividends, distributions and
stock repurchases (other than payable
to another Loan Party)
    
    ___________Total
    
    ___________
    
    not to exceed $50,000,000.00
 Annex 1
   By:___________
of GSI Commerce, Inc. on
behalf of all of the Loan Parties