Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 

EXECUTIVE CHANGE OF CONTROL AGREEMENT 

WHEREAS, Atwood Oceanics, Inc., a Texas corporation (the “Company”), and
[            ] (the “Executive”) are party to that certain Executive Change of Control Agreement effective as of May 24, 2012 (the “Agreement”); and 

WHEREAS, in connection with the promotion of the Executive, the Company desires to amend the terms of the Agreement to increase the potential
severance payment thereunder; and 
 WHEREAS, pursuant to Section 7.4 of the Agreement, the Agreement may be amended by a written
instrument signed by the parties thereto; and 
 WHEREAS, the Executive hereby consents to the amendment of the Agreement as provided herein
(the “Amendment”); 
 NOW, THEREFORE, the Agreement is hereby amended, effective as of January 1, 2015, as follows: 

 

	 	1.	Section 3.3(a)(ii) of the Agreement is hereby amended to read as follows: 

 “(ii) in
lump sum on the sixtieth (60th) day after the Date of Termination, an amount equal to [2.5/2.75] times the sum of (1) the Executive’s Annual Salary, plus (2) the Executive’s Target Annual Bonus.” 

 

	 	2.	All other provisions of the Agreement shall remain the same and are hereby ratified. 

  

							
	EXECUTIVE	  		  	ATWOOD OCEANICS, INC.
				
	  
	  		  	By:	 	  

	[Name]	  		  		 	[Name]
		  		  		 	[Title]EX-10.1

 Exhibit 10.1 

AMENDED & RESTATED AGENCY AGREEMENT 

This Agency Agreement (the “Agreement”) is entered into as of this 22nd
day of December, 2014, by and between DELIA*S, INC., a Delaware corporation (“Merchant”), and a joint venture composed of GORDON BROTHERS RETAIL PARTNERS, LLC, a Delaware limited liability company, and HILCO
MERCHANT RESOURCES, LLC, a Delaware limited liability company (collectively, the “Agent”; and collectively with Merchant, the “Parties”). 

RECITALS 
 WHEREAS,
Merchant and Agent entered into that certain Agency Agreement dated December 4, 2014 (the “Original Agreement”); 

WHEREAS, Merchant operates certain retail stores in the United States and desires that Agent act as Merchant’s exclusive agent for the
limited purpose of (a) selling all of the Merchandise (as hereinafter defined) located in Merchant’s retail store location(s) identified on Exhibit A-1 attached hereto (each individually a “Store”, and collectively
the “Stores”) and in Merchant’s distribution centers identified on Exhibit A-2 attached hereto (each individually a “Distribution Center”, and collectively the “Distribution Centers” and
collectively with the Stores, the “Closing Locations”), through the Stores and through the Merchant’s Direct Business Platform (as defined below), and (b) selling all of the Owned FF&E (as hereinafter defined) located
in the Stores, Merchant’s corporate office and the Distribution Center (in each case subject to Section 15 below), in each case by means of a “sale on everything”, “everything must go”, or similarly themed sale, and,
subject to entry of an Approval Order, as a “store closing” or “going-out-of-business” sale (in each case as further described below, the “Sale”); 

WHEREAS, on December 7, 2014, the Merchant and certain affiliates filed voluntary petitions for relief under title 11, United States Code
(the “Bankruptcy Code”) with the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”); 

WHEREAS, on December 10, 2014, the Bankruptcy Court entered an order approving the conduct of the Sale on an interim basis (the
“Interim Approval Order”); 
 WHEREAS, on December 12, 2014, the Official Committee of Unsecured Creditors (the
“Committee”) was formed. Following formation of the Committee, the Committee informally objected to various provisions of the Original Agreement (the “Committee Objections”). Thereafter, representatives of the
Merchant, Committee, the Lender, and the Agent engaged in substantial, arm’s length, good faith negotiations with respect to the Original Agreement and the Committee Objections; 

WHEREAS, the Merchant and Agent, with the consent of the Committee, desire to amend and restate the Original Agreement with this Agreement.

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent and Merchant hereby agree as follows: 
  

	Section 1.	Definitions and Exhibits 

 1.1 Defined Terms. The terms set forth below are
defined in the Sections referenced of this Agreement: 
  

			
	 Defined Term
	  	 Section Reference

		
	Additional Agent Merchandise	  	Section 8.9(a)
	Additional Taxes and Penalties	  	Section 8.3(a)
	Adjustment Amount	  	Section 3.3(a)
	Agency Accounts	  	Section 3.3(b)(ii)
	Agency Documents	  	Section 11.1(b)
	Agent	  	Preamble
	Agent Claim	  	Section 12.5
	Agent Collateral	  	Section 16.11(a)
	Agent Indemnified Parties	  	Section 8.3(a)
	Agreement	  	Preamble
	All Inclusive Guaranty Percentage	  	Section 3.1(a)
	Applicable General Laws	  	Section 2(c)
	Approval Order	  	Section 2(b)
	Bankruptcy Code	  	Section 2(b)
	Bankruptcy Court	  	Section 2(b)
	Benefits Cap	  	Section 4.1(c)
	Bid Protections	  	Section 16.12(b)
	Break-Up Fee	  	Section 16.12(b)
	Central Services	  	Section 4.1
	Closing Locations	  	Preamble
	Committee	  	Recitals
	Competing Bid	  	Section 16.12(a)
	Cost Factor	  	Section 3.1(d)
	Cost Factor Threshold	  	Section 3.1(d)
	Cost File	  	Section 5.3(a)
	Cost Value	  	Section 5.3(a)
	DC FF&E Commission	  	Section 15(a)
	DC FF&E Commission Option	  	Section 15(a)
	DC FF&E Disposition Budget	  	Section 15(a)
	DC FF&E Disposition Expenses	  	Section 15(a)
	DC FF&E Guaranty Amount	  	Section 15(a)
	DC FF&E Guaranty Option	  	Section 15(a)
	DC FF&E Sale Election Deadline	  	Section 15(a)
	DC FF&E Sale Option	  	Section 15(a)
	Defective Merchandise	  	Section 5.2(b)
	Designated Deposit Accounts	  	Section 3.3(b)(i)
	Direct Business Expense Reimbursement	  	Section 8.10
	Direct Business Platform	  	Section 8.10

  
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	Distribution Center	  	Recitals
	Distribution Center Merchandise	  	Section 5.2(b)
	Distribution Center Services	  	Section 4.1
	Estimated Guaranteed Amount	  	Section 3.3(a)
	Events of Default	  	Section 14
	Excluded Benefits	  	Section 4.1
	Excluded Defective Merchandise	  	Section 5.2(b)
	Excluded Pricing Adjustments	  	Section 3.1(c)(ii)
	Existing Vendors	  	Section 8.9(a)
	Expenses	  	Section 4.1
	Expense Reimbursement	  	Section 16.12(b)
	Final Inventory Report	  	Section 3.3(a)
	Final Reconciliation	  	Section 8.7(b)(i)
	Final Reconciliation Settlement Date	  	Section 8.7(b)(i)
	Force Majeure Event	  	Section 8.8
	Gross Rings	  	Section 5.3(b)(iii)
	Gross Rings Period	  	Section 5.3(b)(iii)
	Guaranteed Amount	  	Section 3.1
	Guaranty Percentage	  	Section 3.1
	Hazardous Materials	  	Section 15(d)
	In-Transit Merchandise	  	Section 5.2(b)
	In-Transit Receipt Deadline	  	Section 5.2(b)
	Interim Guaranty Installments	  	Section 3.3(a)
	Initial Guaranty Payment	  	Section 3.3(a)
	Interim Sale Period	  	Section 2(c)
	Interim Sale Period Expenses	  	Section 3.3(a)
	Interim Sale Proceeds	  	Section 3.3(a)
	Inventory Date	  	Section 5.1
	Inventory Taking	  	Section 5.1
	Inventory Taking Instructions	  	Section 5.1
	Inventory Taking Service	  	Section 5.1
	Lender	  	Section 3.3(f)
	Letter of Credit	  	Section 3.3(g)
	Liquidation Sale Laws	  	Section 2(b)(v)
	Lowest Location Price	  	Section 3.1(c)(i)
	Membership Program Discount	  	Section 8.6(b)
	Merchandise	  	Section 5.2(a)
	Merchandise Ceiling	  	Section 3.1(b)
	Merchandise Threshold	  	Section 3.1(b)
	Merchant	  	Preamble
	Merchant’s Designated Account	  	Section 3.3(a)
	Merchant Consignment Goods	  	Section 5.4
	Merchant Indemnified Parties	  	Section 8.3(a)
	Net DC FF&E Proceeds	  	Section 15(a)
	Non-CAM Trash Removal Charges	  	Section 4.1
	Occupancy Expenses	  	Section 4.1(a)

  
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	Owned FF&E	  	Section 15(a)
	Parties	  	Preamble
	Payment Date	  	Section 3.3(a)
	POS	  	Section 3.1(c)(i)
	Proceeds	  	Section 3.3(b)
	Receipt Deadline	  	Section 5.2(a)
	Remaining Initial Guaranty Payment	  	Section 3.3(a)
	Remaining Merchandise	  	Section 3.2
	Retail Price	  	Section 3.1(c)(i)
	Retained Employee	  	Section 9.1
	Retention Bonus	  	Section 9.4
	Returned Merchandise	  	Section 8.5
	Sale	  	Recitals
	Sale Commencement Date	  	Section 6.1
	Sale Guidelines	  	Section 8.1(h)
	Sale Term	  	Section 6.1
	Sale Termination Date	  	Section 6.1
	Sales Taxes	  	Section 8.3(a)
	Sales Tax Account	  	Section 8.3(a)
	Signage Costs	  	Section 16.12(a)
	Store(s)	  	Recitals
	Store Sale Guaranty Percentage	  	Section 3.1(a)
	Third Party	  	Section 4.1
	Third Party Vendors	  	Section 8.9(a)
	UCC	  	Section 8.9(c)
	Unapplied Interim Sale Proceeds	  	Section 3.3(a)
	Vacate Date	  	Section 6.2
	WARN Act	  	Section 9.1

 1.2 Exhibits. The Exhibits and Schedules annexed to this Agreement, as listed below, are an integral
part of this Agreement: 
  

					
	 Exhibit
	  	 Section Reference
	  	 Description

			
	Exhibit A-1	  	Recitals	  	Stores
	Exhibit A-2	  	Recitals	  	Distribution Center
	Exhibit 3.1(b)	  	Section 3.1(b)	  	Merchandise Ceiling/Threshold Adjustment
	Exhibit 3.1(c)	  	Section 3.1(d)	  	Cost Factor Adjustment
	Exhibit 3.3(a)	  	Section 3.3(a)	  	Merchant’s Designated Account
	Exhibit 3.3(h)	  	Section 3.3(h)	  	Form of Letter of Credit
	Exhibit 4.1(a)	  	Section 4.1(a)	  	Store Occupancy Expense Schedule
	Exhibit 5.1(a)	  	Section 5.1	  	Inventory Taking Instructions
	Exhibit 5.2(b)(1)	  	Section 5.2(b)(1)	  	Distribution Center Merchandise
	Exhibit 5.2(b)(2)	  	Section 5.2(b)(1)	  	Direct Business Merchandise
	Exhibit 8.1	  	Section 8.1	  	Sale Guidelines
	Exhibit 10.1(c)	  	Section 10.1(c)	  	Form of Approval Order

  
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	Exhibit 11.1(d)	  	Section 11.1(c)	  	Pre-Existing Liens
	Exhibit 11.1 (k)	  	Section 11.1(k)	  	Merchant’s Promotions Since 11/1/14
	Exhibit 11.1(l)	  	Section 11.1(l)	  	Pending Matters
	Exhibit 11.1 (o)	  	Section 11.1(o)	  	Extraordinary POS Activity
	Exhibit 11.1(q)	  	Section 11.1(q)	  	Store Leases Expiring During Sale Term
	Exhibit 11.1 (u)	  	Section 11.1(u)	  	Promotions/Discounts

  

	Section 2.	Appointment of Agent/Liquidation Sale Laws/Approval Order 

 (a) Appointment of
Agent. Effective on the date hereof and subject to the entry of the Approval Order, Merchant hereby irrevocably appoints Agent, and Agent hereby agrees to serve, as Merchant’s exclusive agent for the limited purpose of conducting the Sale
and disposing of Merchant’s Owned FF&E at the Closing Locations and the corporate offices, in accordance with the terms and conditions of this Agreement. 

(b) Approval Order. The order approving assumption of this Agreement and the Sale (the “Approval Order”) shall be in
substantially the form annexed hereto as Exhibit 10.1(c), and otherwise be reasonably satisfactory to the Merchant and Agent, and provide, inter alia, that: 

(i) Merchant is authorized and directed to assume this Agreement and that this Agreement (and each of the transactions
contemplated hereby) is approved in its entirety; 
 (ii) Merchant and Agent shall be authorized to continue to take any and
all actions as may be necessary or desirable to implement this Agreement and each of the transactions contemplated hereby; 

(iii) Agent shall be entitled to sell all Merchandise, Additional Agent Merchandise, Merchant Consignment Goods and Owned
FF&E hereunder free and clear of all liens, claims or encumbrances thereon, with any presently existing liens encumbering all or any portion of the Merchandise, Additional Agent Merchandise, Merchant Consignment Goods, Owned FF&E, the
Proceeds or any proceeds of the foregoing attaching only to the Guaranteed Amount and other amounts to be received by Merchant under this Agreement; 

(iv) Agent shall have the right to use the Stores and all related Store and/or Distribution Center Services, furniture,
fixtures, equipment and other assets of Merchant as designated hereunder for the purpose of conducting the Sale, free of any interference from any entity or person subject to compliance with the Sale Guidelines and Approval Order with respect to the
Assets; 
 (v) Agent, as agent for Merchant, is authorized to conduct, advertise, post signs and otherwise promote the Sale
as a “sale on everything”, “everything must go,” or similar themed sale, in accordance with the Sale Guidelines (as the same may be modified and approved by the Bankruptcy Court), and as provided in the Interim Approval Order, as
a “store closing sales” and “going out of business” sale, and subject to entry of the Approval Order as a “going-out-of-business” sale and/or “store closing” sale, without compliance

  
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with all applicable laws, rules and regulations in respect of “going out of business,” “store closing” or similar-themed sales (collectively, the “Liquidation Sale
Laws”), subject to compliance with the Sale Guidelines, the Interim Approval Order, and Approval Order; 
 (vi) Agent
shall be granted a limited royalty-free sub-license and right to use until the Sale Termination Date the trademarks, trade names, logos, customer lists, website, URL, mailing lists and email lists relating to and used in connection with the
operation of the Stores and the Direct Business Platform solely for the purposes of advertising the Sale, selling Merchandise, Additional Agent Merchandise, Merchant Consignment Goods and Owned FF&E, and otherwise conducting the Sale in
accordance with the terms of this Agreement; 
 (vii) all newspapers and other advertising media in which the Sale is
advertised shall be directed to accept the Approval Order as binding and to allow Merchant and Agent to consummate the transactions provided for in this Agreement, including, without limitation, the conducting and advertising of the Sale in the
manner contemplated by this Agreement; 
 (viii) all utilities, landlords, creditors, website and other Direct Business
Platform services providers, and all persons acting for or on their behalf shall not interfere with or otherwise impede the conduct or advertising of the Sale, institute any action in any court (other than in the Bankruptcy Court) or before any
administrative body which in any way directly or indirectly interferes with or obstructs or otherwise impedes the conduct or advertising of the Sale; 

(ix) the Bankruptcy Court shall retain jurisdiction over the parties to enforce this Agreement; 

(x) Agent shall not be liable for any claims against the Merchant other than as expressly provided for in this Agreement; 

(xi) Agent shall be authorized to include Additional Agent Merchandise in the Sale; 

(xii) subject to Agent having satisfied its obligations hereunder, any amounts owed by Merchant to Agent under this Agreement
shall be granted the status of superpriority claims in Merchant’s Bankruptcy Case pursuant to Section 364(c) of Bankruptcy Code senior to all other superpriority claims, including, without limitation, to the superpriority claims of the
Lender; provided that until the Merchant receives payment in full of the Guaranteed Amount and Expenses, and any such other amounts due to Merchant hereunder, any superpriority claim granted to Agent hereunder shall be junior and
subordinate in all respects to the security interests and superpriority claims of Lender but solely to the extent of the amount of the unpaid portion of the Guaranteed Amount and Expenses, and such other amounts due to Merchant hereunder; 

(xiii) Agent shall be granted a valid, binding, enforceable and perfected security interest as provided for in
Section 16.11 hereof without the necessity of filing financing statements to perfect the security interests; 

  
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 (xiv) the Bankruptcy Court finds that time is of the essence in effectuating this
Agreement and proceeding with the Sale at the Stores uninterrupted; 
 (xv) Merchant’s decisions to (a) enter into
this Agreement and (b) perform under and make payments required by this Agreement is a reasonable exercise of the Merchant’s sound business judgment consistent with its fiduciary duties and is in the best interests of the Merchant, its
estate, its creditors, and other parties in interest; 
 (xvi) this Agreement was negotiated in good faith and at arms’
length between the Merchant and Agent and that Agent is entitled to the protection of Section 363(m) of the Bankruptcy Code; 

(xvii) Agent’s performance under this Agreement will be, and payment of the Guaranteed Amount under this Agreement will be
made, in good faith and for valid business purposes and uses, as a consequence of which Agent is entitled to the protection and benefits of Sections 363(m) and 364(e) of the Bankruptcy Code; 

(xviii) this Agreement is approved pursuant to Section 363 of the Bankruptcy Code; and 

(xix) in the event any of the provisions of the Approval Order are modified, amended or vacated by a subsequent order of the
Bankruptcy Court or any other court, Agent shall be entitled to the protections provided in Sections 363(m) and 364(e) of the Bankruptcy Code, and no such appeal, modification, amendment or vacatur shall affect the validity and enforceability of the
sale or the liens or priority authorized or created under this Agreement or the Approval Order. 
 (c) During the period between the Sale
Commencement Date and the entry of the Approval Order (the “Interim Sale Period”), Agent shall be authorized to advertise and conduct the Sale as a “sale on everything”, “everything must go”, or similar-themed
sale, and Agent shall be required to comply with applicable federal, state and local laws, regulations and ordinances, including, without limitation, all laws and regulations relating to advertising, permitting, privacy, consumer protection,
occupational health and safety and the environment, together with all applicable statutes, rules, regulations and orders of, and applicable restrictions imposed by, governmental authorities (collectively, the “Applicable General
Laws”), including, the Liquidation Sale Laws, provided that such Sale is conducted in accordance with the terms of this Agreement and the Sale Guidelines. As provided in the Interim Approval Order, Agent shall be authorized to advertise and
conduct the Sale as a “store closing” and “going out of business sale” sale from and after the entry of the Interim Approval Order until the Approval Order is entered. Upon entry of the Approval Order, Agent shall be authorized
to advertise and conduct the Sale as “going-out-of-business” sale and “store closing sale” from and after the entry of the Approval Order through the Sale Termination Date (the “Remaining Sale Period”) shall
continue to be required to comply with Applicable General Laws, other than Liquidation Sale Laws, and, provided the Sale is conducted in accordance with the this Agreement, the Sale Guidelines, the Interim Approval Order, and Approval Order, Agent
shall be deemed to be in compliance with Applicable General Laws. 
 (d) Authority. Except as otherwise specifically provided in this
Agreement, Agent shall have no authority, and shall not represent that it has any authority, to enter into any contract, agreement, or other arrangement or take any other action by or on behalf of Merchant, that would have the effect of creating any
obligation or liability, present or contingent, on behalf of or for the account of Merchant without Merchant’s prior written consent. 

  
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	Section 3.	Guaranteed Amount and Other Payments 

 3.1 Payments to Merchant and Agent. 

(a) Provided the Approval Order is entered no later than December 24, 2014, as a guaranty of Agent’s performance hereunder, in
addition to the payment of Expenses (as provided for in Section 4.1 hereof), Agent guarantees that Merchant shall receive an amount (the “Guaranteed Amount”) equal to the following: (a) ninety-one percent (91%) (the
“Guaranty Percentage”) of the aggregate Cost Value of Merchandise. The Guaranteed Amount will be calculated based upon the product of (x) the Guaranty Percentage multiplied by (y) the aggregate Cost Value of the
Merchandise included in the Sale as determined by (A) the Final Inventory Report at the conclusion of the Inventory Taking by the Inventory Taking Service after written verification and reconciliation thereof by Agent and Merchant, in
consultation with Lender and, the Committee, (B) the aggregate Cost Value of the Distribution Center Merchandise included in the Distribution Center Shipments, (C) the aggregate Cost Value of Merchandise sold during of the Gross Rings
Period (as adjusted for shrinkage per this Agreement), (D) the aggregate Cost Value of In-Transit Merchandise included in the Sale; and (E) the aggregate Cost Value of Returned Merchandise (not otherwise included in the Inventory Taking).
Agent shall pay to Merchant (or its designee) the Guaranteed Amount in the manner and at the times specified in Section 3.3 below. 

(b) The Guaranteed Percentage has been fixed based upon the Merchant’s representation that (i) the aggregate Cost Value of the
Merchandise (other than Direct Business Merchandise) is not less than $13.95 million (the “Retail Merchandise Threshold”) and not greater than $14.35 million (the “Retail Merchandise Ceiling”) and (ii) the
aggregate Cost Value of the Direct Business Merchandise is not less than $4.782 million (the “Direct Merchandise Threshold”) and not greater than $4.882 million (the “Direct Merchandise Ceiling”); provided,
that, solely for purposes of determining whether the aggregate Cost Value of the Merchandise (other than Direct Business Merchandise) included in the Sale is less than the applicable Merchandise Threshold, no adjustment shall be made to the
applicable Cost Value to account for the effect of any Prevailing Discount Adjustment (applied to Distribution Center Merchandise, In-Transfer Merchandise and/or Returned Merchandise) or Excluded Pricing Adjustment. To the extent that the aggregate
Cost Value of the Merchandise (other than Direct Business Merchandise) included in the Sale is less than the Retail Merchandise Threshold or greater than the Retail Merchandise Ceiling, then such deviation shall not constitute a breach of any
representation or warranty, or an Event of Default; provided, however, that, the Guaranty Percentage shall be adjusted in accordance with Exhibit 3.1(b) attached hereto. In addition, to the extent that the aggregate Cost
Value of the 

  
 8 

 
Direct Business Merchandise included in the Sale is less than the Direct Merchandise Threshold or greater than the Direct Merchandise Ceiling, then such deviation shall not constitute a breach of
any representation or warranty, or an Event of Default; provided, however, that, the Guaranty Percentage shall be adjusted in accordance with Exhibit 3.1(b) attached hereto. Any adjustment to the Guaranty Percentage
provided for under this Section 3.1(b) shall be cumulative with, and in addition to, any other adjustment provided for under this Section 3.1(b) and otherwise in this Agreement, including, but not limited to, any adjustment provided for
under Exhibit 3.1(d) hereof. 
 (c) To the extent that Proceeds exceed the sum of (x) the Guaranteed Amount, plus (y) Expenses of
the Sale, plus (z)(i) an amount equal to ten percent (10.0%) of the aggregate Cost Value of the Merchandise included in the Sale and (ii) eight percent (8.0%) of the aggregate Proceeds attributable to the sale of the Additional Agent
Merchandise included in the Sale (the aggregate of (z)(i) and (ii) being collectively defined as the “Agent’s Fee”; and the sum of (x), (y) and (z) being collectively defined as the “Sharing
Threshold”), then all remaining Proceeds of the Sale above the Sharing Threshold shall be shared fifty percent (50%) to Merchant (Merchant’s share of Proceeds beyond the Sharing Threshold is the “Sharing Amount”) and fifty
percent (50%) to Agent. Agent shall pay the Sharing Amount, if any, to Merchant (or its designee), on the first business day after the completion of the Final Reconciliation conducted pursuant to Section 8.7(b) and shall remit such payment
to the Merchant’s Designated Account. 
 (d) The Guaranty Percentage has also been fixed based upon the assumption that the aggregate
Cost Value of the Merchandise included in the Sale as a percentage of Retail Price of the Merchandise included in the Sale (without taking into account any Prevailing Discount Adjustment (applied to Distribution Center Merchandise, In-Transfer
Merchandise and/or Returned Merchandise) and/or Excluded Price Adjustments) (the “Cost Factor”) attributable to the Merchandise, excluding the Direct Business Merchandise, shall not be greater than twenty-seven and three-quarters of
one percent (27.75%) (the “Store/DC Merchandise Cost Factor Threshold”), and the Cost Factor attributable to the Direct Business Merchandise included in the Sale shall not be greater than thirty-four and seventh-tenths of one
percent (34.7%) (the “Direct Business Merchandise Cost Factor Threshold” and with the Store/DC Merchandise Cost Factor Threshold, as applicable the “Cost Factor Threshold”). In the event that the Cost Factor
for the Merchandise (other than the Direct Business Merchandise) is greater than the Store/DC Merchandise Cost Factor Threshold, then such deviation shall not constitute a breach of any representation or warranty, or an Event of Default;
provided, however, that, the Guaranty Percentage shall be adjusted in accordance with Exhibit 3.1(d) attached hereto. In addition, in the event that the Cost Factor for the Direct Business Merchandise is greater than the
Direct Business Merchandise Cost Factor Threshold, then such deviation shall not constitute a breach of any representation or warranty, or an Event of Default; provided, however, that, the Guaranty Percentage shall be adjusted
in accordance with Exhibit 3.1(d) attached hereto. Any adjustment to the Guaranty Percentage provided for under this Section 3.1(d) shall be cumulative with, and in addition to, any other adjustment provided for under this
Section 3.1(d) and otherwise in this Agreement, including, but not limited to, any adjustment provided for under Exhibit 3.1(b) hereof. For purposes of this Agreement: 

(i) “Retail Price” means, with respect to each item of Merchandise, the lowest of the lowest ticketed price, determined as of
the Sale Commencement Date, “Style Chain Current 

  
 9 

 
Retail” as reflected on the Cost File, other file price, marked price, shelf price, hang-tag price, stickered price, PLU price, or other hard-marked price, excluding Excluded Price
Adjustments; provided, however, that, with respect to Aged Merchandise, the “Retail Price” shall be the lower of (x) the Retail Price as determined in accordance with the sentence to which this proviso is attached; or
(y) the original retail price for such item of Aged Merchandise, multiplied by (y) fifty percent (50%). For purposes of calculating Retail Price, if an item of Merchandise has more than one ticketed price, “Style Chain Current
Retail” as reflected on the Cost File, other file price, marked price, shelf price, hang-tag price, stickered price, PLU price, or other hard-marked price, or if multiple items of the same SKU have different ticketed, “Style Chain Current
Retail” as reflected on the Cost, other file, marked, shelf, hang-tag, stickered, PLU, or other hard-marked prices and such pricing does not otherwise qualify as an Excluded Price Adjustment, the lowest ticketed price, “Style Chain Current
Retail” as reflected on the Cost File, other file price, marked price, shelf price, hang-tag price, stickered price, PLU price, or other hard-marked price on any such item shall prevail for such item or for all such items within the same SKU,
as the case may be, that are located within the same location (as the case may be, the “Lowest Location Price”), unless it is reasonably determined by Merchant or Agent that the applicable Lowest Location Price was mismarked, normal
course markdowns had not been reflected or taken, or such item was priced because it was damaged or marked as “as is,” in which case the correct price shall control; provided, however, in determining the Lowest Location Price
with respect to any item of Merchandise at a Store or Distribution Centers, the Lowest Location Price shall be determined based upon the lowest Retail Price for such item on a per location basis. No adjustment to Retail Price shall be made with
respect to different Retail Prices for items located in different locations. 
 (ii) “Excluded Price Adjustments” means the
following discounts or price adjustments offered by the Merchant by any means: (i) point of sale discounts or similar adjustments regardless of duration; (ii) employee discounts; (iii) member or customer appreciation points or
coupons; (iv) multi-unit purchase discounts; (v) adjustments for damaged, defective or “as-is”” items; (vi) coupons (Merchant’s or competitors’) or similar type coupons/promotions, “groupons”,
catalog, website, or circular prices, or “buy one get one” type discounts, or similar type discounts or promotions; (vii) customer savings pass discounts or “bounce back” coupons, or discounts for future purchases based on
dollar value of past purchases; (viii) obvious ticketing or marking errors; (ix) instant (in-store) or mail in rebates; or (x) similar customer specific, temporary, or employee non-product specific discounts or pricing accommodations.

 (e) To ensure accurate sales audit functions, Agent shall use Merchant’s existing point-of-sale system for recording all sales of
Merchandise (including any sales of Additional Agent Merchandise) in the Stores and through the Direct Business Platform, all of Merchant’s existing systems for recording all sales (including sales of any Additional Agent Merchandise). 

3.2 Payments to Agent. Subject to Agent’s obligation to pay in full the Guaranteed Amount, and all Expenses, Agent shall be
entitled to the Agent’s Fee and, if applicable, Agent’s share of Proceeds in excess of the Sharing Threshold. Provided that no Event of Default has occurred and continues to exist on the part of Agent, all Merchandise and Additional Agent
Merchandise remaining at the conclusion of the Sale (“Remaining Merchandise”) shall become the property of Agent, free and clear of all liens, claims, and encumbrances of any kind or nature.

  
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Agent and its affiliates shall be authorized to sell or otherwise dispose of the Remaining Merchandise and MOOS Inventory with all logos, brand names, and other intellectual property on the
Merchandise and MOOS Inventory intact, and shall be authorized to advertise the sale of the Remaining Merchandise and MOOS Inventory using Merchant’s name and logo. 

3.3 Time of Payments; Proceeds; Control of Proceeds 

(a) During the Interim Sale Period, as part of each weekly reconciliation as provided for in Section 8.7(a), Merchant shall collect all
of the Proceeds (the “Interim Sale Proceeds”) and (x) all Interim Sale Proceeds shall first be applied to the payment of Expenses that are incurred during the Interim Sale Period and become due and owing (collectively, the
“Interim Sale Period Expenses”) and (y) all remaining Interim Sale Proceeds after payment of Interim Sale Period Expenses (the “Unapplied Interim Sale Proceeds”) shall be retained and applied by Merchant
against the Guaranteed Amount (collectively, the “Interim Guaranty Installments”) until the earlier of (i) receipt by Merchant of the balance of the Estimated Guaranteed Amount, or (ii) entry of the Approval Order. On the
first business day after entry of the Approval Order (the “Payment Date”), Agent shall pay to Merchant an amount equal to the difference between (i) eighty percent (80%) of the Estimated Guaranteed Amount (as defined
below) (the “Initial Guaranty Payment”); and (ii) the aggregate amount of the Interim Guaranty Installments retained by Merchant (with such differential being the “Remaining Initial Guaranty Payment”). The
Estimated Guaranteed Amount shall be calculated by taking product of (x) the Guaranty Percentage multiplied by (y) the estimated aggregate Cost Value of the Merchandise to be included in the Sale (inclusive of Direct Business
Merchandise), excluding any amounts attributable to In-Transit Merchandise, if applicable) as reflected on Merchant’s books and records at the close of business on the last business day immediately preceding the Sale Commencement Date (the
“Estimated Guaranteed Amount”). On the Payment Date, the Remaining Initial Guaranty Payment shall be made by wire transfer of immediately available funds to the account designated on Exhibit 3.3(a) attached hereto (the
“Merchant’s Designated Account”). The balance of the Guaranteed Amount (including any amounts attributable to In-Transit Merchandise not otherwise paid for or attributable to the inclusion of the Direct Business Merchandise in
the Sale), shall be paid by Agent by wire transfer of immediately available funds to the Merchant’s Designated Account on the earlier of: (x) the second business day following the issuance of the final report of the aggregate Cost Value of
the Merchandise counted by the Inventory Taking Service following the completion of the Inventory Taking, after review, reconciliation and mutual written verification thereof by Agent and Merchant, in consultation with Lender (the “Final
Inventory Report”); (y) the date that is thirty (30) days after the Sale Commencement Date (in the case of (y) above, Agent shall tender payment of the undisputed portion only on account of any remaining portion of the
Guaranteed Amount). With respect to the Direct Business Merchandise, the balance of the Guaranteed Amount shall be paid as part of the Final Reconciliation. In the event of a dispute as to the calculation of the portion of the Guaranteed Amount, any
such dispute shall be resolved in the manner and at the times set forth in 8.7(b)(ii) hereof, and Agent’s failure to pay such balance or undisputed portion shall entitle the Merchant and the Lender (individually or collectively) to draw upon
the Letter of Credit in accordance with Section 3.3(g) hereof to the extent of such balance or undisputed portion. Merchant and Agent shall exercise reasonable best efforts to reconcile the Inventory Taking within ten (10) days after its
completion. In the event that the Initial Guaranty Payment is either less than or exceeds the Guaranteed Amount, as applicable, 

  
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Agent or Merchant, as the case may be, shall pay to Merchant or Agent, as the case may be, the amount (the “Adjustment Amount”) by which the actual Guaranteed Amount exceeds or
is less than the sum of the Initial Guaranty Payment. 
 For purposes of this Agreement, “Proceeds” shall mean the
aggregate of (i) the total amount (in dollars) of all sales of Merchandise in the Stores and/or through the Direct Business Platform provided for in Section 8.10 hereof; (ii) all service revenue received by Merchant from the Stores
and/or through the Direct Business Platform (if applicable), in each case during the Sale Term and exclusive of Sales Taxes; (iii) the total amount (in dollars) of all sales of Additional Agent Merchandise (exclusive of Sales Taxes);
(iv) all proceeds of Merchant’s insurance for loss or damage to Merchandise arising from events occurring during the Sale Term relating to the Merchandise and Additional Agent Merchandise; (v) all amounts received from customers or
other third parties on account of postage, overnight delivery or other shipping charges related to the delivery of Merchandise and Additional Agent Merchandise to the consumers; and (vi) any and all proceeds received by Agent from the
disposition of Remaining Merchandise. For the avoidance of doubt: (1) proceeds from the sales at Merchant’s Stores or through the Direct Business Platform for periods prior to the Sale Commencement Date; (2) the proceeds from the sale
of Merchant Consignment Goods pursuant to Section 5.4 hereof (subject to Agent’s right to receive the commission under Section 5.4 below); (3) all proceeds of Merchant’s insurance for loss or damage to Merchandise arising
from events occurring prior to the Sale Commencement Date; (4) proceeds from the sale or other disposition of Owned FF&E; (5) MOOS Proceeds; and (6) payments made by Agent on account of the Guaranteed Amount, Expenses, Sharing
Amount, MOOS Sharing Amount, and the Letter of Credit, shall, in each case, not constitute “Proceeds” hereunder. 
 (b)
Following the earlier of (i) payment of the Guaranteed Amount in full; or (ii) entry of the Approval Order, all Proceeds shall be controlled by Agent in the manner provided for below: 

(i) Prior to the date Agent establishes the Agency Accounts (see clause (ii) below), all Proceeds (including credit card Proceeds) shall
be collected by Merchant and deposited on a daily basis into depository accounts designated by, owned and in the name of, Merchant for the Stores, which accounts shall be designated for the deposit of Proceeds (including all cash, credit card
payments, checks and similar items of payment, deposits and any other amounts contemplated by this Agreement (including proceeds from the sale of Additional Agent Merchandise)), and the disbursement of amounts payable to or by Agent hereunder (the
“Designated Deposit Accounts”). Subject to the provisions of Section 16.11 hereof, the Approval Order shall provide (a) that Merchant grants to Agent a first priority security interest in and lien upon each Designated
Deposit Account to the extent of any Proceeds and any other amounts payable to Agent deposited therein, and (b) for turnover to Agent of any such Proceeds (and any other amounts payable to Agent deposited therein) in accordance with the terms
and provisions of this Agreement and the Approval Order, as applicable. If, notwithstanding the provisions of this Section, Merchant or Lender receives or otherwise has dominion over or control of any Proceeds, or other amounts due to Agent
(including proceeds from the sale of Additional Agent Merchandise), Merchant and Lender shall hold the same and other amounts in trust for Agent, and shall not deposit such Proceeds or other amounts due Agent hereunder in any account except a
Designated Deposit Account or as otherwise instructed by Agent. Until such time as Agent 

  
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establishes the Agency Accounts (see clause (ii) below), Merchant, Agent and Lender shall cooperate with each other to establish and implement appropriate steps and procedures to accomplish
a daily reconciliation, and remittance to Agent, of all Proceeds (including credit card Proceeds) and other amounts contemplated by this Agreement that are deposited into the Designated Deposit Accounts. 

(ii) After payment of the Initial Guaranty Payment and delivery of the Letter of Credit, Agent may establish its own accounts (including
without limitation credit card accounts and systems), dedicated solely for the deposit of the Proceeds (including credit card Proceeds), and the disbursement of amounts payable to Agent hereunder (the “Agency Accounts”), and
Merchant shall promptly, upon Agent’s reasonable request, execute and deliver all necessary documents to open and maintain the Agency Accounts; provided, however, Agent may elect to continue to use Merchant’s Designated
Deposit Accounts as the Agency Accounts. The Agency Accounts shall be dedicated solely to the deposit of Proceeds (including credit card Proceeds) and other amounts contemplated by this Agreement, and the distribution of amounts payable hereunder;
provided that, in the event (a) Agent elects to continue to use Merchant’s Designated Deposit Accounts as the Agency Accounts, and (b) such accounts have amounts deposited therein by Merchant that do not constitute
Proceeds and/or other amounts payable to Agent under this Agreement, then Merchant, Agent, upon its appointment, the Committee and Lender shall cooperate with each other to establish and implement appropriate steps and procedures to accomplish a
daily reconciliation, and remittance to Agent, of all Proceeds (including credit card Proceeds) and other such amounts. Upon request, Agent shall deliver to Merchant and Lender copies of all bank statements and other information relating to the
Agency Accounts; provided that, in the event Agent elects to continue to use Merchant’s Designated Deposit Accounts as the Agency Accounts, Merchant shall deliver to Agent copies of all bank statements and other information
relating to such accounts to enable Agent to track and trace deposited funds that constitute Proceeds (including credit card Proceeds) and other amounts contemplated by this Agreement. The Merchant shall not be responsible for, and Agent shall pay
as an Expense hereunder, all bank fees and charges, including wire transfer charges, related to the Sale and Agency Accounts, whether received during or after the Sale Term. Upon Agent’s notice to Merchant of Agent’s designation of the
Agency Accounts, all Proceeds of the Sale (including credit card Proceeds) shall be deposited into the Agency Accounts. 
 (iii) Agent
shall have the right to use Merchant’s credit card facilities, including Merchant’s credit card terminals and processor(s), credit card processor coding, and Merchant identification number(s) and existing bank accounts for credit card
Proceeds solely for purposes of the Sale, and for processing transactions relating to Additional Agent Merchandise. In the event that Agent elects to use Merchant’s credit card facilities, Merchant shall process credit card transactions on
behalf of Agent and for Agent’s account, applying customary practices and procedures. Without limiting the foregoing, Merchant shall cooperate with Agent to download data from all credit card terminals each day during the Sale Term to effect
settlement with Merchant’s credit card processor(s), and shall take such other actions necessary to process credit card transactions on behalf of Agent under Merchant’s identification number(s). At Agent’s request, Merchant shall
cooperate with Agent to establish Merchant’s identification numbers under Agent’s name to enable Agent to process all such credit card Proceeds (and proceeds from Additional Agent Merchandise) for Agent’s own account. Merchant shall
not be responsible for, 

  
 13 

 
and Agent shall pay as an Expense hereunder, all credit card fees, charges, and chargebacks related to Merchandise and Additional Agent Merchandise sold during the Sale, whether received during
or after the Sale Term. Agent shall not be responsible for, as an Expense or otherwise, any credit card fees, charges, or chargebacks that do not relate to the Sale, whether received, prior to, during or after the Sale Term. 

(iv) Commencing on the first business day following the Payment Date, and continuing on each business day thereafter, Merchant shall promptly
pay to Agent by wire transfer of immediately available funds all funds constituting Proceeds (including, without limitation, Proceeds from credit card sales), and proceeds from Additional Agent Merchandise that are deposited into the Designated
Deposit Accounts for the prior day. Agent shall, within a reasonable period of time after the date of each such payment by Merchant, notify Merchant and Lender of any shortfall in such payment, in which case, Merchant shall promptly pay to Agent
funds in the amount of any undisputed shortfall. 
 (c) Merchant and Agent further agree that if at any time during the Sale Term,
(i) Agent holds any amounts due to Merchant under this Agreement, Agent may, in its discretion, after two (2) business days’ notice to Merchant, offset such amounts being held by Agent against any undisputed amounts due and owing by,
or required to be paid by, Merchant hereunder, and (ii) Merchant holds any amounts due to Agent under this Agreement, Merchant may, in its discretion, after two (2) business days’ notice to Agent, offset such amounts being held by
Merchant against any undisputed amounts due and owing by, or required to be paid by, Agent hereunder. 
 (d) All amounts required to be paid
by Agent or Merchant under any provision of this Agreement shall be made by wire transfer of immediately available funds which shall be wired by Agent or Merchant, as applicable, no later than 2:00 p.m. (prevailing Eastern Time) on the date that
such payment is due; provided, that all of the information necessary to complete the wire transfer has been received by Agent or Merchant, as applicable, by 10:00 a.m. (prevailing Eastern Time) on the date that such payment is due. In the
event that the date on which any such payment is due is not a business day, then such payment shall be made by wire transfer on the next business day. 

(e) Upon Agent’s failure to timely pay (i) the Adjustment Amount in the event the Guaranteed Amount exceeds the Initial Guaranty
Payment, (ii) Expenses, or (iii) other undisputed amounts due by Agent under this Agreement, Lender or Merchant, as applicable, shall be entitled to immediately draw upon the Letter of Credit to the extent of such undisputed amount. 

(f) If, and to the extent, the Agent over-funds any amounts in respect of the Guaranteed Amount or the MOOS Guaranteed Amount hereunder (as
determined pursuant to the express terms of this Agreement) and such funding or payment cannot be recovered by the Agent from Merchant under Section 3.3(a) or Section 3.3(c), by means of an offset or otherwise, then Merchant agrees (or if
Merchant shall be unable to or otherwise for any reason fails to, and Salus Capital Partners, LLC, in its capacity as administrative agent and collateral agent (the “Lender”), has received such funding or payment, the Lender agrees)
to reimburse such undisputed amount of such overfunded amount to Agent within two (2) business days of written demand thereof by Agent. 

  
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 (g) Guaranty Security. To secure payment of the balance of any unpaid portion of the
Guaranteed Amount, MOOS Guaranteed Amount, Expenses and other amounts due to Merchant hereunder, on the first business day following the entry of the Interim Approval Order, Agent shall deliver to Lender, as Merchant’s designee, an irrevocable
standby letter of credit, substantially in the form of Exhibit 3.3(h) attached hereto, in an original stated amount equal to the aggregate of (x) twenty percent (20%) of the estimated Guaranteed Amount and MOOS Guaranteed Amount
(based upon Merchant’s books and records maintained in the ordinary course as of the date immediately preceding the Payment Date), and (y) three (3) weeks’ estimated Expenses (the “Letter of Credit”). The Letter
of Credit shall name Merchant as beneficiary. The Letter of Credit shall be delivered to Lender, no later than the second business day following the Sale Commencement Date, and shall be issued by a U.S. national bank selected by Agent and reasonably
acceptable to Merchant and Lender; for the avoidance of doubt, Bank of America, N.A. or its affiliate shall be deemed acceptable to Merchant and Lender. In the event that Agent fails to timely pay any undisputed amount hereunder in respect of the
Guaranteed Amount, the MOOS Guaranteed Amount, Expenses and/or other amounts due to Merchant, as required under this Agreement, Merchant shall be entitled to draw on the Letter of Credit to fund such undisputed amount or obligation after five
(5) business days’ written notice to Agent. Merchant and Agent agree that, from time to time upon Agent’s request, the face amount of the Letter of Credit shall be reduced by the aggregate amount of payments made by Agent on account
of the Guaranteed Amount and MOOS Guaranteed Amount; provided, however, until the Final Reconciliation has been completed, under no circumstances shall the face amount of the Letter of Credit be reduced to an amount less than two
(2) weeks’ estimated Expenses (and Merchant and Lender shall cooperate with respect to each such request). The Letter of Credit shall expire no earlier than sixty (60) days after the Sale Termination Date; provided that,
if, as of the tenth (10th) business day prior to the scheduled expiration date of the Letter of Credit, there remains any unresolved dispute as to the Guaranteed Amount and MOOS Guaranteed
Amount, Expenses and/or other amounts due to Merchant under this Agreement, Agent shall cause the expiration date of the Letter of Credit to be extended for successive thirty (30) day intervals (or such other longer duration as Merchant and
Agent may agree) until the subject dispute has been resolved and any additional amounts due hereunder on account of the Guaranteed Amount, Expenses and/or other amounts due to Merchant, have been paid to Merchant. If Agent has for any reason not so
extended the expiration date of the Letter of Credit by the date that is ten (10) business days prior to the expiration date of the Letter of Credit (as may have been extended previously), Merchant shall have the right to make a drawing under
the Letter of Credit in an amount equal to the amount(s) Merchant asserts are then owing to Merchant. After completion of the Final Reconciliation and payment in full of all amounts owing by Agent (including but not limited to the Guaranteed Amount,
MOOS Guaranteed Amount, and Expenses), Merchant and Lender shall surrender the original Letter of Credit to the issuer thereof together with written notification that the Letter of Credit may be terminated. Upon Lender’s receipt of payment in
full of its claims against the Merchant, Lender shall promptly deliver the Letter of Credit to Merchant. 
 (h) Agent and Merchant hereby
acknowledge that, by December 5, 2014, Merchant funded an Expense retainer to Agent in the amount of $600,000 (the “Retainer”) to secure payment of Expenses, which Retainer shall be used to pay or reimburse Agent for certain Expenses
paid or to be paid by Agent prior to entry of the Approval Order (inclusive of signage costs, supervision and Agent 50% share of the Inventory Taking). During the first Weekly Sale Reconciliation following entry of the Approval Order, Merchant shall
be reimbursed or credited by Agent for the Retainer. 

  
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 3.4 Additional Provisions Concerning MOOS Inventory 

(a) “MOOS Inventory” means those goods referenced in the file “MOOS Inventory.xlsx”, which file was provided by
Merchant to Agent by email on December 17, 2014 at 9:36 a.m. CT, and located at the “hilton annex” facility as of the Sale Commencement Date. 

(b) Provided the Approval Order is entered no later than December 24, 2014, Agent guarantees that Merchant shall receive an amount (the
“MOOS Guaranteed Amount”) equal to thirty-six percent (36%) (the “MOOS Guaranty Percentage”) of the aggregate Cost Value of MOOS Inventory, plus payment of the 3PL Expenses. 

(c) The MOOS Guaranteed Amount will be calculated based upon the product of (x) the MOOS Guaranty Percentage multiplied by
(y) the aggregate Cost Value of the MOOS Inventory as determined by a count of the MOOS Inventory conducted by a third party logistics company (the “3PL”) designated by Agent, which 3PL shall be reasonably acceptable to
Merchant, Lender, and the Committee (the “MOOS Inventory Count”). The MOOS Inventory Count shall be conducted by the 3PL in accordance with instructions mutually acceptable to the 3PL, on the one hand, and Agent, Merchant, Lender,
and Committee, on the other hand (with each party acting reasonably and taking into consideration the 3PL’s input and the costs and expenses the 3PL may charge for atypical requirements); provided, further, that representatives of
the Agent, Merchant, the Committee, and Lender shall have the right to be present during the MOOS Inventory Count. The 3PL shall be responsible for picking up the MOOS Inventory from the Merchant, receiving the MOOS Inventory at the 3PL’s
facility, processing, counting, sorting, and refurbishing the MOOS Inventory, and shipping the MOOS Inventory to buyers (collectively, the “3PL Services”). The documented costs and expenses of the 3PL for the 3PL Services shall be
paid by the Agent (the “3PL Expenses”). 
 (d) Agent shall pay to Merchant (or its designee) the MOOS Guaranteed Amount as
follows: (i) eighty percent (80%) on the Payment Date and (ii) twenty percent (20%) within two (2) business days after the MOOS Inventory Count is approved by Agent, Merchant, Lender, and the Committee, with each party
acting reasonably 
 (e) To the extent that proceeds (less applicable Sales Taxes) from the sale of the MOOS Inventory (the “MOOS
Proceeds”) exceed the sum of (x) the MOOS Guaranteed Amount, plus (y) 3PL Expenses, plus (z) five percent (5.0%) of the aggregate Cost Value of MOOS Inventory (as determined based on the MOOS Inventory Count) (the
“MOOS Agent’s Fee” and the sum of (x), (y) and (z) being collectively defined as the “MOOS Sharing Threshold”), then all remaining MOOS Proceeds above the MOOS Sharing Threshold shall be shared eighty
percent (80%) to Merchant (“MOOS Sharing Amount”) and twenty percent (20%) to Agent. Agent shall pay the MOOS Sharing Amount, if any, to Merchant (or its designee) as part of the Final Reconciliation or as otherwise agreed
to by the Merchant and Agent. 

  
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	Section 4.	Expenses of the Sale 

 4.1 Expenses. Subject to the entry of the Approval Order by
December 24, 2014, Agent shall be unconditionally responsible for all Expenses, which expenses shall be paid by Agent in accordance with Section 4.2 below. Agent and/or Merchant and/or Lender may review or audit the Expenses at any time.
Effective from and after the Payment Date, Agent shall be obligated to pre-fund (i) any payroll-related expenses consistent with Merchant’s customary payroll funding practices and timing; and (ii) Occupancy Expenses for the Stores
weekly in advance. As used herein, “Expenses” shall mean the Store-level (and where expressly applicable, Distribution Center-level) operating expenses of the Sale which arise during the Sale Term and are attributable to the Sale, limited
to the following: 
 (a) (i) actual Occupancy Expenses for the Stores (that are in operation of each such date) on aggregate per diem basis
in an amount up to the aggregate per diem amount set forth on Exhibit 4.1(a) hereto; plus (ii) the portion of any percentage rent obligations allocable to the sale of Merchandise during the Sale to the extent set forth on
Exhibit 4.1(a), plus (iii) the portion of any percentage rent obligations attributable to the sale of Additional Agent Merchandise during the Sale to the extent set forth on Exhibit 4.1(a) (in each case as determined in the
manner described in the definition of “Occupancy Expenses” below in this Section 4.1); 
 (b) actual wages and
commissions for all Store-level Retained Employees used in conducting the Sale; provided that, Agent shall only be obligated to pay 50% of the payroll wages for Store-level Retained Employees used during the Inventory Taking, and
Merchant shall pay the remaining 50% of the wages for Retained Employees used during the Inventory Taking; 
 (c) actual amounts payable by
Merchant for benefits for Retained Employees (including payroll taxes, FICA, unemployment taxes, workers’ compensation and health care insurance benefits, but excluding Excluded Benefits) for Store-level Retained Employees used in the Sale, in
an amount up to sixteen percent (16.0%) of base payroll (including commissions) for all Retained Employees in the Stores (the “Benefits Cap”); 

(d) Retention Bonuses for Retained Employees, as provided for in Section 9.4 below; 

(e) all costs and expenses associated with Agent’s on-site supervision of the Closing Locations, including but not limited to any and all
fees, wages, bonuses, deferred compensation, taxes, and third party payroll costs and expenses of Agent’s field personnel, travel to, from or between the Closing Locations, and all out-of-pocket and commercially reasonable expenses relating
thereto; 
 (f) all signage, banners, sign walkers, and in-Store signs that are produced for the Sale (inclusive of the Signage Costs
provided for in Section 16.11); 
 (g) promotional costs including, without limitation, email blasts, television, and any other
advertising and/or direct mail attributable to the Sale and ordered or requested by Agent; 
 (h) the costs and expenses of obtaining
additional supplies used at the Stores as may be required by Agent in the conduct of the Sale; 

  
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 (i) Intentionally omitted; 

(j) postage/overnight delivery/courier charges to and from or among the Stores to the extent relating to the Sale; 

(k) credit card and bank card fees, chargebacks, and discounts attributable to the Sale at the Stores; 

(l) any and all costs of moving, transferring, or consolidating Merchandise and/or Additional Agent Merchandise and/or Direct Business
Merchandise (to the extent such goods are included in the Sale and Agent elects to transfer Direct Business Merchandise to the Stores) between and among the Stores; 

(m) a pro rata portion for the Sale Term of Merchant’s premiums in respect of general liability, casualty, property, inventory, and other
insurance policies attributable to the Merchandise and Additional Agent Merchandise; 
 (n) third-party payroll processing fees for the
Stores and the Direct Business Platform; 
 (o) armored car service and security personnel; 

(p) actual cost of Agent’s capital, reasonable and documented legal expenses, letter of credit fees and insurance (as provided in
Section 12.4 hereof); 
 (q) Cost of transferring the Distribution Center Merchandise to the Stores up to an aggregate amount of
$100,000; 
 (r) Agent’s 50% of the third party fees and costs of the Inventory Taking; 

(s) Actual Central Service Expenses in an amount equal to $10,000 per week (pro-rated for partial weeks) for the Sale Term (payable to
Merchant) in respect of the cost of Merchant providing Central Services in accordance with Section 8.1 hereof; 
 (t) Store cash thefts
and other Store cash shortfalls in registers; 
 (u) actual costs and expenses associated with operating the Direct Business Platform in an
amount up to $45,000 per week (prorated for partial weeks); 
 (v) actual Distribution Center Expenses (prorated for partial weeks); 

(w) actual costs and expenses of postage, overnight delivery or other shipping charges related to the delivery of Merchandise and Additional
Agent Merchandise to the consumers; 

  
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 (x) any costs and expenses incurred in connection with the acquisition (including costs of
goods), shipping, delivery, processing and transfer of any Additional Agent Merchandise; 
 (y) costs and expenses associated with temporary
labor requested or obtained by Agent for purposes of the Sale; 
 (z) All costs and expenses incurred by Agent in order to comply with
Applicable General Laws and/or Liquidation Sale Laws unless and until entry of the Approval Order; and 
 (aa) the actual costs and expenses
of Agent providing such additional services as the Agent reasonably deems appropriate for the Sale. 
 “Expenses” shall not
include: (i) Central Service Expenses in excess of the amount set forth in Section 4.1(s); (ii) Excluded Benefits; (iii) any rent or other occupancy expenses other than Occupancy Expenses in accordance with Section 4.1(a)
hereof; (iv) Distribution Center Expenses in excess of amounts provided for in Section 4.1(v); (v) costs of maintaining and operating Merchant’s websites and Direct Business Platform in excess of the amounts provided for in
Section 4.1(u); (vi) costs or expenses of postage, overnight delivery or other shipping charges related to the delivery of Merchandise and Additional Agent Merchandise to the consumers (except to the extent sold through the Direct Business
Platform in which case Agent shall be responsible for payment in accordance with section 4.1(w) only), (vii) 3PL Expenses, or (viii) any costs, expenses or liabilities arising during the Sale Term, other than the Expenses listed above. All
costs or expenses related to the Sale not included as Expenses shall be paid by Merchant promptly when due during the Sale Term. Notwithstanding anything to the contrary herein, (x) to the extent that any Expense listed in Section 4.1 is
also included on Exhibit 4.1(a), then Exhibit 4.1(a) shall control and such Expense shall not be double counted. Except as provided in this Section 4.1, no Expenses shall be paid with respect to any distribution
center/warehouses other than the Distribution Centers Expenses. 
 As used herein, the following terms have the following meanings: 

“Central Service Expenses” means costs and expenses for Merchant’s Central Services. 

“Central Services” means those Merchant central administrative services necessary for the conduct and support of the Sale,
including, but not limited to, use or and access to Merchant’s: (i) inventory control system, (ii) payroll system, (iii ) accounting system, (iv) office facilities, (v) central MIS and POS services, (vi) cash
reconciliation, (vii) central administrative services and personnel to process and perform sales audit, banking, and other normal course administrative services customarily provided to or for the benefit of operating the Distribution Centers
and/or the Stores, (viii) such other central office services reasonably necessary for the Sale, and (ix) use by Agent reasonably sized offices located at Merchant’s central office facility to effect the Sale. 

  
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 “Distribution Center Expenses” means an amount up to (i) $25,000 per week
(prorated for partial weeks) in respect of Merchant’s provision of Distribution Center Services during the period of the Sale (during which the Agent is utilizing the Distribution Centers, in each case for the period commencing on the Sale
Commencement Date and concluding on the earliest to occur of (x) the Sale Termination Date or (y) the Vacate Date for the applicable Distribution Center; plus (ii) incremental costs and expenses associated with Additional Agent
Merchandise, including, without limitation, the receipt, tagging, processing and/or transfer of the Additional Agent Merchandise from the Distribution Centers to the Stores. Agent shall pay Merchant any such Distribution Center Expense amount that
may be due on a weekly basis as part of the weekly Sale reconciliation provided for under Section 8.7(a) hereof. 

“Distribution Center Services” means those services customarily performed by Merchant in operating and maintaining the
Distribution Centers in the ordinary course of business and in the course of receiving and distributing goods and supplies to the Stores, including, but not limited to, with respect to (i) payroll and related employee benefits of all
Distribution Centers employees; (ii) rent and other occupancy costs and expenses associated with the Distribution Centers; (iii) the handling, receiving, in-take, storage, ticketing and processing of any Merchandise, Distribution Center
Merchandise, In-Transit Merchandise, or Additional Agent Merchandise at the Distribution Centers; (iv) any required supplies in connection with the foregoing; (v) any Central Services required to operate and maintain the Distribution
Centers during the Sale Term applicable thereto; and (vi) costs and expenses of moving, transferring, or consolidating Merchandise or Additional Agent Merchandise between the Distribution Centers and the Stores. Merchant hereby covenants and
agrees to provide the Distribution Center Services throughout the Sale Term and, except as provided and solely to the extent set forth in section 4.1(v), Merchant shall be responsible for the payment of all costs and expenses associated with the
Distribution Centers and the Distribution Center Services. 
 “Excluded Benefits” means (i) the following benefits
arising, accruing or attributable to the period prior to, during, or after the Sale Term: (w) vacation days or vacation pay, (x) sick days or sick leave or any other form of paid time off, (y) maternity leave or other leaves of
absence and (z) ERISA coverage and similar contributions and/or (ii) any other benefits in excess of the Benefits Cap, including, without limitation, any payments due under the WARN Act. 

“Occupancy Expenses” means rent, percentage rent, common-area maintenance, landlord promotional fees, real estate and use
taxes, HVAC, utilities, telecom/telephone charges, point-of-sale systems maintenance, store security systems, routine repairs and maintenance, taxes and licenses, costs of all local, long-distance, and international telephone, satellite broadband
connections, T-1 lines, broadband internet, and other telecommunications services, trash removal (to the extent excluded as a fixed charge component of lease obligation), snow removal, and ordinary course third-party cleanings, pest control
services, plus any percentage rent obligations incurred by Merchant under applicable leases or occupancy agreements that are allocable to the sales as part of the Sale during the Sale Term of: (x) Merchandise and (y) Additional
Agent Merchandise included in the Sale. Merchant and Agent agree that Exhibit 4.1(a) shall specify the actual applicable percentage and any applicable sales thresholds in respect of percentage rent under any applicable Store lease(s) or other
occupancy agreement(s). Merchant and Agent further 

  
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agree that in the event Exhibit 4.1(a) does not specify the actual applicable percentage and/or the applicable sales thresholds in respect of percentage rent under any applicable Store
lease(s) or other occupancy agreement(s), Agent shall have no obligation to pay percentage rent other than as set forth on Exhibit 4.1(a). Notwithstanding anything to the contrary set forth in this Agreement, Merchant and Agent further agree
that to the extent that, in connection with the conduct of the Sale and/or Agent’s vacating of the Stores (but not in connection with the disposition of any unsold Owned FF&E or other non-Merchandise assets being abandoned or otherwise
disposed of by Merchant), Merchant incurs additional trash removal charges at a Store, other than the fixed charge component of Merchant’s lease obligation for a particular Store provided for on Exhibit 4.1(a) (the “Non-CAM
Trash Removal Charges”), such Non-CAM Trash Removal Charges shall be paid by Agent as an Expense of the Sale, in addition to any trash removal charges as may be set forth in Exhibit 4.1(a) hereof. 

“Third-party” means, with reference to any Expenses, a party that is not affiliated with or related to Merchant. 

4.2 Payment of Expenses. From and after the Payment Date, Agent shall be responsible for the payment of all Expenses, whether or not
there are sufficient Proceeds collected to pay such Expenses after the payment of the Guaranteed Amount. All Expenses incurred during each week of the Sale (i.e., Sunday through Saturday) shall be paid by Agent to or on behalf of Merchant
immediately following the weekly Sale reconciliation by Merchant and Agent pursuant to Section 8.7(a) below, based upon invoices and other documentation reasonably satisfactory to Merchant and Agent. 

 

	Section 5.	Inventory Valuation; Merchandise. 

 5.1 Inventory Taking. Commencing on the Sale
Commencement Date, Merchant and Agent shall cause to be taken a SKU-level and Retail Price physical inventory of the Merchandise located in the Stores and shall count the Distribution Centers in accordance with the below (collectively, the
“Inventory Taking”). Subject to the availability of the Inventory Taking Service, Merchant and Agent shall use commercially reasonable efforts to complete the Inventory Taking as follows: (x) as to Merchandise located in the
Stores, in each Store no later than twenty one (21) days after the Sale Commencement Date (the date of the Inventory Taking at each Store being the “Inventory Date” for such Store); (y) with regard to Distribution Center
Merchandise and In-Transit Merchandise, when such Merchandise is shipped from the applicable Distribution Center to the Stores, and (z) with regard to Direct Business Platform Merchandise, (1) as such Merchandise is shipped to the
customers or (2) in the case of Direct Business Platform Merchandise that is not sold to customers, as such Merchandise is shipped from the applicable Distribution Center to the Stores. Merchant and Agent shall jointly employ RGIS or another
mutually acceptable independent inventory taking service (the “Inventory Taking Service”) to conduct the Inventory Taking in the Stores, and Merchant and Agent shall agree upon procedures for Merchandise that is counted at the
Distribution Centers before it is shipped to the Stores. The Inventory Taking shall be conducted in accordance with the procedures and instructions to be mutually agreed upon by Merchant (in consultation with the Lender) and Agent and made a part of
this Agreement as Exhibit 5.1(a) (the “Inventory Taking Instructions”). As an Expense, Agent shall be responsible for fifty percent (50%) of the fees and expenses of the Inventory Taking

  
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Service. The balance of such fees and expenses shall be paid by Merchant. Except as provided in the immediately preceding sentence, Merchant and Agent shall each bear their respective costs
and expenses related to the Inventory Taking; provided that, Agent shall be obligated to pay fifty percent (50%) of the payroll and related benefit costs (subject to the Benefits Cap) for Retained Employees used during the Inventory
Taking, and Merchant shall pay the remaining fifty percent (50%) of the payroll and related benefit costs for Retained Employees used during the Inventory Taking. Merchant, Agent, upon its appointment, the Committee, and Lender shall each have
the right to have representatives present during the Inventory Taking, and shall each have the right to review and verify the listing and tabulation of the Inventory Taking Service. Merchant agrees that during the Inventory Taking in each of
the Stores, the applicable Store shall be closed to the public and no sales or other transactions shall be conducted until the Inventory Taking has been completed, as agreed by Merchant and Agent. Merchant and Agent further agree that until the
Inventory Taking in each particular Store is complete, Agent shall not (i) transfer any Merchandise to or from that Store, (ii) deliver any Additional Agent Merchandise to such Store, (iii) move Merchandise within or about the Stores,
or (iv) remove any Merchant hang tags, price tickets, inventory control tags, or other indicia of pricing affixed to or related to any Merchandise. Agent and Merchant (in consultation with the Lender) shall use their reasonable best
efforts to reconcile the Inventory Taking (including, but not limited to, the determination of the aggregate Cost Value of the Merchandise), within ten (10) days after its completion. In the event there is any dispute with respect to the
reconciliation of the aggregate Cost Value of the Merchandise following completion of the Inventory Taking, then any such dispute shall be resolved in the manner and at the times set forth in Section 8.7(b)(ii) hereof). 

5.2 Merchandise Subject to this Agreement. 

(a) For purposes of this Agreement, including but not limited to the calculation of the Guaranteed Amount, “Merchandise”
means all new, first quality (other than as expressly set forth below), finished goods inventory that is owned by Merchant and customarily sold to customers in the ordinary course of Merchant’s business, including, but not limited to,
(i) Merchandise subject to Gross Rings; (ii) Merchandise located in the Stores on the Sale Commencement Date (other than Direct Business Merchandise); (iii) Direct Business Merchandise; (iv) Distribution Center Merchandise
received in the Stores on or before January 10, 2015 (the “Receipt Deadline”) in accordance with the Allocation Schedule; (v) In-Transit Merchandise received at the Stores on or before the Receipt Deadline in accordance
with the Allocation Schedule, (vi) Aged Merchandise; (vii) Defective Merchandise (to the extent Merchant and Agent can mutually agree on the Cost Value applicable thereto). Notwithstanding the foregoing, “Merchandise” shall not
include (i) goods that belong to sublessees, licensees, or concessionaires of Merchant; (ii) goods held by Merchant on memo, on consignment, or as bailee; (iii) Excluded Defective Merchandise; (iv) Additional Agent Merchandise;
(v) MOOS Inventory; and (vi) furnishings, trade fixtures furniture, and equipment and improvements to real property that are located in the Closing Locations or the corporate offices; (vi) if applicable, Distribution Center
Merchandise that is not received at the Stores on or before the Receipt Deadline; and/or (vii) In-Transit Merchandise that is not received at the Stores on or before to the Receipt Deadline. 

  
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 (b) As used in this Agreement, the following terms have the respective meanings set forth below:

 “Aged Merchandise” means items of Merchandise located in the Stores and the Distribution Center Merchandise (but not
Direct Business Merchandise) for which the “Style Last Receipt Date” was on or before May 31, 2014 as reflected on the applicable Cost File. 

“Defective Merchandise” means any item of Merchandise identified and agreed upon by Merchant and Agent (with each party
acting reasonably) as defective in that it is damaged, defective, scratched, soiled, ripped, torn, stained, faded, discolored, dented, out of box (if normally sold as new in-the-box), missing pieces, mismatched, mis-mated or near-sized, parts, items
typically sold as a set which are incomplete, or gift with purchase items, or otherwise affected by other similar defenses rendering it not first quality. Sample merchandise and merchandise on display in the Stores shall not per
se be deemed to be Defective Merchandise. 
 “Direct Business Merchandise” means those items of inventory
identified on Exhibit 5.2(b)(2) that are located in Merchant’s Distribution Centers on the Sale Commencement Date, which have been ear-marked and/or ticketed in the ordinary course of business for sale through the Direct Business
Platform. 
 “Distribution Center Merchandise” means those items of inventory identified on Exhibit 5.2(b)(1)
that are located in Merchant’s Distribution Centers on the Sale Commencement Date that do not constitute Direct Business Merchandise. Merchant shall be responsible for providing the Distribution Center Services with respect to the Distribution
Center Merchandise. 
 “Excluded Defective Merchandise” means (a) any item of Defective Merchandise that is not
saleable in the ordinary course because it is so damaged or defective that it cannot reasonably be used or sold for its intended purpose, (b) any item of Defective Merchandise for which the parties cannot mutually agree upon a Cost Value,
and/or (c) packaway merchandise. Excluded Defective Merchandise located in the Stores shall be identified and counted during the Inventory Taking and thereafter removed from the sales floor and segregated. To the extent that goods in the
Distribution Centers or in transit to the Stores constitute Excluded Defective Merchandise and such goods arrive at the Stores despite Merchant’s covenant not to ship such goods to the Stores, such goods shall be identified during the Inventory
Taking or, to the extent such goods arrive in a Store after the Inventory Date for such Store, such goods shall be reasonably identified by Agent within five (5) business days of receipt of at such Store and thereafter removed from the sales
floor and/or segregated. 
 “In-Transit Merchandise” means items of inventory purchased by Merchant prior to the date of
this Agreement, which goods are either subject to a Letter of Credit issued by Merchant and cannot be cancelled as of the date of this Agreement, and/or are already in transit to Merchant from the vendor as of the Sale Commencement Date. 

  
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 “Allocation Schedule” means the allocation schedule of Distribution Center
Merchandise and In-Transit Merchandise that has been mutually agreed upon by Merchant and Agent. 
 5.3 Valuation. 

(a) For purposes of this Agreement, “Cost Value” shall mean, with respect to each item of Merchandise, other than the
Additional Agent Merchandise, the lower of (i)(x) the lower of the Merchant’s actual cost of such item and (y) the cost of such item as reflected in the SKU for such item of Merchandise as reflected on (1) Merchant’s inventory
cost file attributable to the Merchandise (other than the Direct Business Merchandise) identified on Exhibit 5.3(a)(1); and (2) Merchant’s inventory cost file attributable to the Direct Business Merchandise identified on
Exhibit 5.3(a)(2); and (ii) the Retail Price. 
 (b) Anything in Section 5.3(a) to the contrary notwithstanding,
Merchant and Agent further agree as follows: 
 (i) The Cost Value and Retail Price of any item of Distribution Center
Merchandise and In-Transit Merchandise that is not received at a Store on or before January 3, 2015 shall be the otherwise applicable Cost Value and Retail Price of such item (determined in accordance with Sections 5.3(a) above and 3.1(e)),
multiplied by the inverse of the prevailing Sale discount in effect on the date such item arrives in the Store (the “Prevailing Discount Adjustment”). In agreeing upon the Allocation Schedule, Merchant and Agent used
commercially reasonable and good faith efforts to allocate and schedule shipments of Distribution Center Merchandise and In-Transit Merchandise from the Distribution Centers to the Stores so as to minimize, where practicable (i.e., giving due
consideration to the needs and capacity of the Stores) the effect of the Prevailing Discount Adjustment; 
 (ii) Defective
Merchandise shall be valued by mutual agreement of the parties; if the parties are unable to so agree, or if an item is determined to be Excluded Defective Merchandise, such goods shall be excluded from the Sale and treated as Excluded Defective
Merchandise for all purposes hereunder, including, without limitation, calculation of the Guaranteed Amount and Proceeds; 

(iii) Excluded Pricing Adjustments shall not be taken into account in determining the Cost Value of any item of Merchandise;
and 
 (iv) If the Sale commences prior to the completion of the Inventory Taking at any Store or the Distribution Centers,
then for the period from the Sale Commencement Date until the Inventory Date for such Store (the “Gross Rings Period”), Agent and Merchant shall jointly keep (i) a strict count of gross register receipts less applicable Sales
Taxes but excluding any prevailing discounts (“Gross Rings”) and (ii) cash reports of sales within such Store and or Direct Business Platform (if applicable) utilized by the subject Distribution Center. Agent and Merchant shall
keep a strict count of register receipts and reports to determine the actual Cost Value and Retail Price of the 

  
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Merchandise sold by SKU. All such records and reports shall be made available to Merchant and Agent during regular business hours upon reasonable notice. Any Merchandise included in the Sale
using the Gross Rings method shall be included in Merchandise using the actual Cost Value of the Merchandise sold plus one percent (1.0%) shrink provision. 

5.4 Excluded Goods. Merchant shall retain all rights and responsibility for any goods not included as “Merchandise” hereunder
and shall remove, at Merchant’s expense, such goods from the Stores and the Distribution Centers prior to the Sale Commencement Date, or as soon thereafter as reasonably practicable. If Merchant so elects at the beginning of the Sale Term,
Agent shall accept those goods not included as “Merchandise” hereunder and as identified by Merchant for sale as “Merchant Consignment Goods”. Merchant Consignment Goods shall be sold at prices mutually agreed upon by
Merchant and Agent. Agent shall retain twenty percent (20%) of the sale price (less applicable Sales Taxes) for all sales of Merchant Consignment Goods, and Merchant shall receive eighty percent (80%) of the sale price (less applicable
Sales Taxes) in respect of sales of Merchant Consignment Goods. Merchant shall receive its share of the receipts of sales of Merchant Consignment Goods on a weekly basis, immediately following the weekly reconciliation by Merchant and Agent pursuant
to Section 8.7(a) below. Except as expressly provided in this Section 5.4, Agent shall have no cost, expense, or responsibility in connection with any goods not included in Merchandise, including but not limited to sales commissions and
percentage rent. 
 5.5 Distribution Center Services. 

(a) On and after the Sale Commencement Date, Agent shall be responsible for allocating and designating the shipment of the Distribution Center
Merchandise and In-Transit Merchandise to the Stores. Notwithstanding anything to the contrary herein, except as provided in Section 4.1(v), Agent shall not be responsible to pay any cost or expenses associated with the operation of the
Distribution Centers. 
 (b) Agent’s obligation to pay Distribution Center Expenses in accordance with Section 4.1(v) shall be
limited to the period commencing on the Sale Commencement Date and concluding on the earliest to occur of (i) the Sale Termination Date or (ii) the Vacate Date for the applicable Distribution Center. Merchant agrees and covenants that it
shall be responsible for performing and providing all Distribution Center Services. 
  

	Section 6.	Sale Term. 

 6.1 Term. The Sale commenced at each of the Stores on
December 4, 2014 (the “Sale Commencement Date”). Agent shall complete the Sale and vacate the premises of each Store and the Direct Business Platform in favor of Merchant or its representative or assignee on or before the date
that is the earlier of (i) April 15, 2015; and (ii) the date that is 120 twenty days after entry of an order for relief in Merchant’s bankruptcy case (the earlier of (i) and (ii), the “Sale Termination
Date”). The period beginning on the Sale Commencement Date through and including the Sale Termination Date shall be referred to herein as the “Sale Term”. The Sale Termination Date as to

  
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any Store or Distribution Center may be (a) extended by mutual written agreement of Agent and Merchant, in consultation with the Lender or (b) accelerated by Agent, in which case Agent
shall provide Merchant and the Lender with not less than seven (7) days’ advance written notice of any such planned accelerated Sale Termination Date (each such notice being a “Vacate Notice”). If Agent fails to
provide Merchant and the Lender with timely notice of an acceleration of the Sale Termination Date for a Store, Agent shall be liable for and shall pay any Occupancy Expenses resulting from such untimely notice. 

6.2 Vacating the Closing Stores and Distribution Centers. Subject to the terms of Section 6.1 hereof, Agent shall provide Merchant
and the Lender with not less than seven (7) days’ advance written notice of its intention to vacate any Store or Distribution Center) (as to each such Store and/or Distribution Center, as applicable, the “Vacate Date”). On
the Vacate Date, Agent shall vacate such Store and/or Distribution Center in favor of Merchant or its representatives or assignee, (subject to Agent’s right to abandonment) remove all Remaining Merchandise (including any unsold Additional Agent
Merchandise) from the Store and/or the Distribution Center in “broom clean” condition (ordinary wear and tear excepted) subject to the right to abandon, neatly in place, any unsold Owned FF&E. Agent’s obligations to pay all
Expenses, including Occupancy Expenses, for each Store and/or Distribution Center) (as and to the extent applicable) subject to Vacate Notice shall continue until the earlier of (a) the applicable Vacate Date for such Store and/or Distribution
Center; and (b) the Sale Termination Date. All assets of Merchant used by Agent in the conduct of the Sale (e.g., FF&E, supplies, etc.) shall be returned by Agent to Merchant or left at the Stores and/or the Distribution
Centers), to the extent same have not been used in the conduct of the Sale or have not been otherwise disposed of through no fault of Agent. Any reference in this Section 6 to vacating the Stores and/or the Distribution Centers means vacating
the Stores and/or Distribution Centers, as applicable, in favor of Merchant, its representatives, or assignee and shall not mean vacating possession or disclaimer of lease in favor of landlord or owner of the Store and/or Distribution Center
premises. Agent agrees that it shall be obligated to repair any damage caused by Agent (or any representative, agent, or licensee thereof) to any Store and/or Distribution Center during the Sale Term, ordinary wear and tear excepted. Agent shall
have the right to abandon in place any asset of Merchant. 
  

	 	Section 7.	Designation Rights. 

 7.1 Certain Defined Terms. The following terms have the following
meanings: 
 (a) “Assets” means the Membership Interests and the Merchant’s rights title and interests in and to the
Intellectual Property. 
 (b) “Asset Proceeds” means all cash and non-cash consideration received by Merchant or Agent
from the sale or other disposition of the Assets, which for the avoidance of doubt shall exclude Proceeds, MOOS Proceeds, and FF&E Proceeds. 

(c) “Asset Sharing Amount” means an amount equal to (i) forty percent (40%) of the Asset Proceeds in excess of
$1,200,000 and up to $2,500,000, plus (ii) sixty percent (60%) of the Asset Proceeds in excess of $2,500,000, which amount (if any) shall be paid by Agent to Merchant promptly after receipt by Agent of Asset Proceeds in excess thereof.

  
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 (d) “Cure Amount” means, with respect to each executory contract included
within the meaning of Intellectual Property, the amount required to cure pre-Petition Date monetary defaults or compensate a counterparty for actual pre-Petition Date pecuniary loss, as required by Bankruptcy Code sections 365(b)(1)(A) and (B). 

(e) “Customer Lists” means any and all lists of current and past customers of Merchant and/or any business of Merchant,
including any and all information relating in any way to the use of such lists for or by Merchant and/or any business of Merchant, including (x) personal information, such as name, address, telephone number, email address, website and any other
database information and (y) customer purchase history at a transaction level (including with respect to dollar amounts, dates, and items purchased) but excluding from the foregoing any credit card numbers or related customer payment source or
financial information prohibited by law. 
 (f) “Intellectual Property” means any and all worldwide rights in and to all
tangible and intangible intellectual property assets of Merchant (whether arising under statutory or common law, contract, or otherwise), which include without limitation all of the following items owned by Merchant, for which Merchant is a
licensee, sub-licensee, licensor, sub-licensor, assignee, assignor, or in which Merchant has an interest or right (and Schedule 1 hereto lists all issued or registered Intellectual Property and applications therefor owned by Merchant):
(a) inventions, discoveries, processes, designs, techniques, developments and related improvements whether or not patentable; (b) patents, patent applications, industrial design registrations and applications therefor, divisions,
divisionals, continuations, continuations-in-part, reissues, substitutes, renewals, registrations, confirmations, re-examinations, extensions and any provisional applications, or any such patents or patent
applications, and any foreign or international equivalent of any of the foregoing; (c) trademarks (whether registered, unregistered or pending), trade dress, service marks, service names, trade names, brand names, product names, logos, domain
names, internet rights (including, without limitation IP Addresses and AS numbers), corporate names, fictitious names, other names, symbols (including business symbols), slogans, translations of any of any of the foregoing and any foreign or
international equivalent of any of the foregoing and all goodwill associated therewith and (to the extent transferable by law) any applications and/or registrations in connection with the foregoing and all advertising and marketing collateral
including any of the foregoing; (d) work specifications, databases and artwork; (e) technical, scientific and other know-how and information (including promotional material), trade secrets,
confidential information, methods, processes, practices, formulas, designs, patterns, assembly procedures, specifications owned or used by Merchant; (f) rights associated with works of authorship including copyrights, moral rights, design
rights, rights in databases, copyright applications, copyright registrations, rights existing under any copyright laws and rights to prepare derivative works; (g) work for hire; (h) any and all rights of Merchant to the name
“dELiA*s” or any derivation thereof, (i) Merchant’s entire customer list and database (including all Customer Lists), and all assets used or useful by Merchant in the conduct of its catalog business and its business over the
internet and/or in any other electronic medium, including (without limitation) any websites, social media sites and accounts (including the content contained therein, user names and passwords), diagrams, drawings, domain names, and all advertising
and marketing materials and collateral (including all physical, digital, or electronic imagery and design files), samples, product catalogs, product designs and specifications (including tech specifications) vendor and merchandise supplier data and
information, (j) software used in the operation of the 

  
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Direct Business Platform, (k) all goodwill, rights and contracts (including all licenses and sublicenses granted or obtained with respect thereto) related to the foregoing, (k) the
right to sue for infringement and other remedies against infringement of any of the foregoing, and (l) rights to protection of interests in the foregoing under the laws of all jurisdictions. 

(g) “Membership Interests” means all of Merchant’s rights, title, and interests in and to the ownership interests in dELiA*s
Brand, LLC. 
 7.2 Designation Rights. In partial consideration, and as a material component of the payment of the Guaranteed Amount
and the Asset Sharing Amount (if any), during the Sale Term (the “Designation Rights Period”) Agent shall have the exclusive right to direct Merchant to designate the ultimate purchaser, acquirer, assignee, transferee, licensee, or
designee, which, for the avoidance of doubt, may be the Agent or one or more affiliates of the Agent, as determined by Agent in Agent’s sole and absolute discretion, of each of the Assets (collectively the “Designation Rights”)
and shall retain all Asset Proceeds (other than the Asset Sharing Amount) for Agent’s sole and exclusive benefit. Merchant, in consultation with the Committee, shall, upon such election by Agent, take such actions as may be reasonably required
to effectuate all Designation Rights. Merchant and Committee agree to cooperate with Agent to arrange for the sale or other disposition of the Assets, with such sales and dispositions to be on such terms as Agent shall determine in its sole and
absolute discretion, subject to Section 7.10 of this Agreement with respect to sale or transfer of the Customer List. Without limiting the generality of the foregoing, Merchant and Committee agree to cooperate with Agent, its agents and
any potential purchasers, acquirers, assignees, transferees, licensees, or designees of any of the Assets and provide unlimited access to the locations thereof. 

7.3 Agent Dropout Rights. At any time prior to the expiration of the Designation Rights Period, Agent shall have the right, upon seven
(7) days’ written notice (the “Dropout Notice Period”), which right may be exercised at any time and from time to time in Agent’s sole and absolute discretion, to provide notice to Merchant and the Committee (each
such notice, a “Dropout Notice”) of Agent’s election not to designate the ultimate purchaser, acquirer, assignee, transferee, licensee, or designee any Asset (each, a “Dropout Asset” and, collectively, the
“Dropout Assets”). Upon the effective date of any Dropout Notice, (i) Agent shall have no further obligation or liability with respect to the subject Dropout Asset, and (ii) Merchant shall thereafter be solely responsible
for all such Dropout Asset(s) from and after the effective date of the Dropout Notice. Upon Agent’s delivery of a Dropout Notice, all rights to the Dropout Assets shall revert to Merchant, and Merchant may dispose of such Dropout Asset in such
manner as Merchant may elect, and one hundred percent (100%) of all proceeds realized upon a disposition of such Dropout Asset shall be the exclusive property of Merchant (and shall not constitute Asset Proceeds, FF&E Proceeds, or
Proceeds). The delivery of a Dropout Notice shall not result in a reduction of the Guaranteed Amount (as defined below) payable hereunder unless such Asset(s) was excluded due to a Merchant breach of this Agreement. Prior to the expiration of the
Dropout Notice Period, the Agent, in its sole and absolute discretion, may withdraw any Dropout Notice upon written notice to Merchant. 

7.4 At any time prior to the expiration of the Designation Rights Period, Agent shall have the right, which right may be exercised at any time
and from time to time, in Agent’s sole and absolute discretion, to provide notice to Merchant and Committee (each such notice, a 

  
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“Sale Notice”) of Agent’s election to require Merchant to seek Bankruptcy Court authority to designate the ultimate purchaser, acquirer, assignee, transferee, licensee, or
designee any the Assets identified in the subject Sale Notice(s) (each, a “Designated Third Party Asset” and, collectively, the “Designated Third Party Assets”) and sell, transfer, license, transfer, assign, or
otherwise dispose of same to the purchaser, acquirer, assignee, transferee, licensee, or designee identified by Agent. Within three (3) business days following the date Agent delivers a Sale Notice and related information (including the
applicable transaction documents) to Merchant, Merchant, in consultation with the Committee, shall take all requisite actions (including, without limitation, actions required under Sections 363 and Section 365 of the Bankruptcy Code) to
promptly sell, assume and assign the applicable Designated Third Party Asset(s) to the applicable designee identified in such Sale Notice(s). Other than in respect of the initial sale notice contemplated by Section 7.5 (excluding “the
subsequent Sale Notice” referenced in the proviso therein), Agent shall reimburse Merchant (or Merchant’s successor in interest, if applicable) for all reasonable and documented costs incurred by Merchant with respect to effectuating a
Sale Notice and obtaining approval of the associated sale or other disposition of the Assets in such Sale Notice (including, but not limited to, reasonable attorneys’ fees and costs and noticing and copying fees and costs) (the
“Transfer Costs”). Without limiting the generality of the foregoing, upon receipt of a Sale Notice, Merchant, in consultation with the Committee, shall use commercially reasonable efforts to obtain the expedited entry of an order of
the Court approving the sale or other disposition of the Designated Third Party Asset(s) and the sale or other disposition of such asset(s) to the specified designee, each in a form and substance reasonably acceptable to Agent, its designee, and
Merchant. 
 7.5 Adequate Assurances. If applicable, Agent shall cause the designee for the Assets to provide adequate assurance of
future performance with respect to such Designated Third Party Asset in accordance with the Bankruptcy Code. Additionally, Agent or such designee, as applicable, shall pay all Cure Amounts. 

7.6 Carrying Costs and Expenses. Except with respect to the payment (or reimbursement to Merchant) of Expenses, Cure Amounts (if any
and if applicable), the Transfer Costs, and costs or expenses associated with Agent’s advertising or marketing with respect to the Assets, Merchant (or Merchant’s successor in interest, if applicable) shall be responsible for paying costs
and expenses customarily or historically incurred or paid by Merchant and associated with each Asset from and after the Petition Date through and including the earlier of (i) the closing of a transaction, subject to a Sale Notice or otherwise,
with respect to each such Asset and (ii) the end of the Designation Rights Period. 
 7.7 Rejection. Regardless of whatever
elections Agent shall make under the this Agreement, the legal cost and expenses of the rejection at any time of any one or more Assets, including, without limitation, the filing and prosecution of any motions or other papers with respect to the
same and/or the amount and priority of any claim arising from such rejection (collectively, the “Rejection Costs”), shall be borne solely by the Merchant. For the avoidance of doubt, if and to the extent that the Agent’s
actions (other than actions related to operation of the Direct Business Platform as contemplated by this Agreement) in respect of an executory contract result in Merchant incurring an allowed administrative expense not subject to defenses Merchant
otherwise would not have incurred but for such actions, Agent shall be liable to reimburse Merchant for the allowed amount of such administrative expense. 

  
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 7.8 Procedures for Closings. Agent and Merchant, in consultation with the Committee, shall
cooperate and use best efforts to consummate the closing of any sale or other disposition of any Asset as promptly as possible. All Asset Proceeds (other than the Asset Sharing Amount) shall be retained by Agent for Agent’s sole and exclusive
benefit. All payments to Agent and all rights to Asset Proceeds (other than the Asset Sharing Amount) shall be free and clear of liens, claims, encumbrances and interests and shall not require any further Bankruptcy Court order. At each closing,
Merchant, in consultation with the Committee, will deliver to the Agent’s designee such documents and agreements as are provided for in the applicable transaction agreements to consummate the sale of the applicable Assets. Agent will prepare
(and deliver to Merchant for its execution) the assignments, bills of sale, deeds, transfer tax declarations, and other closing documents to be delivered in connection with the closing in the forms contemplated in the applicable transaction
agreements or otherwise in form reasonably acceptable to Merchant, in consultation with the Committee; provided, however, that Merchant will reasonably cooperate with Agent in such preparation. 

7.9 Privacy. In connection with the transfer of the Customer List, any designee shall remain bound by and shall comply with the
Merchant’s privacy policy (“Privacy Policy”) as currently set forth on Merchant’s licensed website, “delias.com”. Any designee, as successor-in-interest as to the personally identifiable information in the
customer file, shall be liable for post-sale violations of the Privacy Policy. Should a designee propose to make any change to the Privacy Policy, such designee shall provide those listed on the Customer List with notice of the change and the
opportunity to “opt-out”. Any designee shall be bound by (a) the provisions of this Section 7.9; and (b) the Approval Order. The Approval Order shall provide, among other things, that any designee is the successor in
interest to the Customer List; such designee shall be bound by the provisions of the Privacy Policy; such designee shall be responsible for any violation of the Privacy Policy after the date of the transfer; such designee shall provide notice to all
customers on the Customer List that their email addresses are being transferred; such designee shall not disclose, sell or transfer customers’ personally identifiable information to any third party in a manner inconsistent with the Privacy
Policy; within 30 days of the entry of the Approval Order, the designee shall file a certification with the Bankruptcy Court that the notice described herein has been provided to Merchant’s customers; and nothing in the Approval Order shall
prevent or prohibit any designee or subsequent transferee of the Customer Lists from modifying the Privacy Policy in accordance with such Privacy Policy’s terms and conditions. 

 

	Section 8.	Conduct of the Sale. 

 8.1 Rights of Agent and Merchant. Subject to the Interim
Approval Order, the Approval Order and the Sale Guidelines, Agent shall be permitted to conduct a “going out of business”, “store closing” or similarly themed sale at the Stores and the Distribution Centers throughout the Sale
Term. Agent shall conduct the Sale in the name of and on behalf of Merchant in a commercially reasonable manner and in compliance with the terms of this Agreement and, except as modified by the Approval Order, all governing laws and applicable
agreements to which Merchant is a party. Agent shall conduct the Sale in accordance with the Sale Guidelines annexed hereto as Exhibit 8.1 and approved by the Approval Order (as and when applicable), whether by in-store promotion, media
advertising, or other promotional materials. Merchant and Lender shall have the right to monitor the Sale and activities attendant thereto and to be present in the Stores during the hours when the Stores are open for business, so long as
Merchant’s and/or Lender’s 

  
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presence does not unreasonably disrupt the conduct of the Sale. Merchant and Lender shall also have a right of access to the Stores at any time in the event of an emergency situation and shall
promptly notify Agent of such emergency. In addition to any other rights granted to Agent hereunder, in conducting the Sale, Agent, in the exercise of its sole discretion, shall have the following rights, limited by the Sale Guidelines: 

(a) except as otherwise provided in the Approval Order (as and when applicable), to establish Stores’ hours, which are consistent with
the terms of applicable leases, mortgages, or other occupancy agreements and local laws or regulations, including, without limitation, Sunday closing laws; provided, however, to the extent that Agent extends the hours of operation at
one or more of the Stores beyond the hours historically operated by Merchant, which results in additional utilities charges and increased Occupancy Expenses in excess of the average utilities charges and Occupancy Expenses for such Stores over the
twelve (12) months preceding the Sale Commencement Date, Agent shall reimburse Merchant the amounts, if any, of such additional costs and such additional costs shall constitute Expenses; 

(b) to use without charge during the Sale Term (except where otherwise designated as an Expense pursuant to Section 4.1 hereof),
(i) all furniture, fixtures and equipment, (ii) bank accounts, (iii) Store-level and/or Distribution Center-level (and to the extent available, corporate) computer hardware and software, (iv) customer lists, mailing lists, email
lists, and web and social networking sites utilized by Merchant in connection with its business (but solely in connection with the Sale and pursuant to such reasonable restrictions requested by Merchant in order for Merchant to comply with its
privacy policy and applicable laws governing the use and dissemination of confidential consumer personal data), (v) existing supplies located at the Stores and/or Distribution Centers, (vi) intangible assets (including Merchant’s
names, logos, and tax identification numbers), (vii) Stores’ and/or Distribution Center keys, case keys, security codes, and safe and lock combinations required to gain access to and operate the Stores and the Distribution Centers, and
(viii) any other assets of Merchant located at the Stores and/or Distribution Centers (whether owned, leased, or licensed) consistent with applicable terms of leases or licenses. Agent shall exercise due care and return to Merchant immediately
at the end of the Sale all materials and supplies except materials or supplies expended; 
 (c) subject to Agent’s payment (if
applicable) in accordance with Sections 4.1(s) and (v) above in respect of Central Services and Distribution Center Services, Merchant agrees and covenants that it shall be responsible for performing and providing to Agent such Central Services
necessary or incident to the conduct of the Sale, including, but not limited to, use of Merchant’s central office facilities, central administrative services, and personnel to process payroll, perform MIS, and provide other central office
services necessary for the Sale to the extent that such services are normally provided by Merchant in house; provided, however, that, in the event Agent expressly requests Merchant to provide services other than those normally provided
to the Stores and/or Distribution Centers and relating to the sale of Merchandise by Merchant in the ordinary course of business and as expressly contemplated by this Agreement, Agent shall be responsible to reimburse Merchant for the actual
incremental cost of such services incurred by Merchant as an Expense of the Sale hereunder; 

  
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 (d) to establish Sale prices and implement advertising, signage (including exterior banners and
signs and sign walkers), and promotional programs consistent with the sale theme described herein, and as otherwise provided in the Approval Order (as and when applicable and the Sale Guidelines (including, without limitation, by means of media
advertising, A-frame, interior and exterior banners, use of sign walkers and similar signage). 
 (e) once the Inventory Taking is complete
at both the transferring Store and the receiving Store, to transfer Merchandise between and among the Stores; 
 (f) to transfer Merchandise
between and among the Distribution Centers and the Stores; provided, however Merchant and Agent shall mutually agree upon a methodology for tracking the shipments and receipts of Distribution Center Merchandise and In-Transit
Merchandise in the Stores 
 (g) to supplement the Merchandise at the Stores with Additional Agent Merchandise in accordance with
Section 8.9 hereof; 
 (h) to sell the Direct Business Merchandise through the Direct Business Platform and/or sell the Direct Business
Merchandise from the Stores; and 
 (i) to conduct the Sale in accordance with the sale guidelines attached hereto as Exhibit 8.1 (the
“Sale Guidelines”). 
 8.2 Terms of Sales to Customers. Subject to Agent’s compliance with applicable law (as
determined with reference to the Approval Order, as and when applicable), all sales of Merchandise will be “final sales” and “as is” and all advertisements and sales receipts will reflect the same. Agent shall not warrant the
Merchandise in any manner, but will, to the extent legally permissible, pass on all manufacturers’ warranties to customers. All sales will be made only for cash or nationally recognized credit and debit cards. Agent shall accept and honor
coupons during the Sale Term, if any, as well as groupons and Merchant’s employee discount terms as are in effect immediately prior to the commencement of the Sale Term. Merchant shall reimburse Agent in cash for all amounts related to coupons,
as well as groupons and Merchant’s employee discount terms, during each weekly sale reconciliation provided for in Section 8.7; provided that, Merchant shall only be obligated to reimburse Agent for Merchant’s coupons,
as well as groupons and Merchant’s employee discount terms, honored by Agent during the first thirty (30) days of the Sale. Agent shall clearly mark all receipts for the Merchandise sold at the Stores during the Sale Term, so as to
distinguish such Merchandise from the merchandise sold prior to the Sale Commencement Date. Agent may elect, in Agent’s sole discretion, to accept returns of Merchandise or Additional Agent Merchandise sold using the Direct Business Platform
during the Sale Term according to return policies established by Agent (in which case Agent shall be responsible for the costs and expenses associated with such returns of Merchandise and Additional Agent Merchandise sold using Merchant’s
e-commerce business platform during the Sale Term as an Expense). 
 8.3 Sales Taxes. (a) During the Sale Term, all sales,
excise, gross receipts, and other taxes attributable to sales of Merchandise, Additional Agent Merchandise, Merchant Consignment Goods, and/or Owned FF&E as indicated on Merchant’s point of sale equipment (other than taxes

  
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on income, but specifically including, without limitation, gross receipts taxes) payable to any taxing authority having jurisdiction (collectively, “Sales Taxes”) shall be added
to the sales price of Merchandise, Additional Agent Merchandise, Merchant Consignment Goods, and/or Owned FF&E and collected by Agent in trust for Merchant at time of sale and paid over to Merchant. All Sales Taxes shall be deposited into a
segregated account designated by Merchant and Agent solely for the deposit of such Sales Taxes (the “Sales Taxes Account”). If Agent does not timely remit Sales Taxes to Merchant, Merchant shall be permitted to immediately draw on
the Letter of Credit in the full amount of Sales Taxes collected by Agent in the preceding week. Provided that Agent has collected all Sales Taxes during the Sale and remitted the proceeds thereof to Merchant, Merchant shall promptly pay all Sales
Taxes and file all applicable reports and documents required by the applicable taxing authorities. Notwithstanding anything to the contrary herein, Agent shall reimburse Merchant for any additional Sales Taxes, interest, fines, penalties, and
similar amounts payable to any taxing authority as the result of a Sales Tax audit conducted by or on behalf of such authority which discloses that the Sales Taxes collected by Agent and paid over to Merchant for any period during the Sale Term were
less than those mandated by applicable law for the sale of Merchandise, Additional Agent Merchandise, Merchant Consignment Goods, and/or Owned FF&E, if any, that is sold by Agent under this Agreement (any such additional Sales Taxes and other
amounts are collectively referred to herein as “Additional Taxes and Penalties”). Merchant will be given access to the computation of gross receipts for verification of all such Sales Tax collections. Agent shall add Sales Tax to
the sales price of all Additional Agent Merchandise sold and Agent shall collect Sales Taxes attributable to the sales of Additional Agent Merchandise and deposit such amounts into existing accounts, trust accounts, or other accounts designated by
Agent, for remittance by Merchant, on behalf of Agent, to the appropriate taxing authority. If Agent fails to perform its responsibilities in accordance with this Section 8.3, and provided Merchant complies with its obligations in accordance
with this Section 8.3, Agent shall indemnify and hold harmless Merchant and its officers, directors, employees, agents and independent contractors (collectively, “Merchant Indemnified Parties”) from and against any and all
costs, including, but not limited to, reasonable attorneys’ fees, assessments, fines, or penalties (including but not limited to all Additional Taxes and Penalties) that Merchant sustains or incurs as a result or consequence of the failure by
Agent to collect Sales Taxes and remit them to Merchant and/or, to the extent Agent is required hereunder to prepare reports and other documents, the failure by Agent to promptly deliver any and all reports and other documents required to enable
Merchant to file any requisite returns with such taxing authorities. Provided that Agent performs its responsibilities in accordance with this Section 8.3, Agent shall have no further obligation to the Merchant, the Lender, any taxing
authority, or any other party, and Merchant (and Lender to the extent it has received any funds on account of Sales Taxes) shall indemnify and hold harmless Agent and its officers, directors, employees, agents and Supervisors (collectively,
“Agent Indemnified Parties”) from and against all claims, demands, assessments, penalties, losses, liability or damage, including, without limitation, reasonable attorneys’ fees and expenses, directly or indirectly asserted
against, resulting from or related to the failure by Merchant to promptly pay such taxes to the proper taxing authorities and/or the failure by Merchant to promptly file with such taxing authorities all reports and other documents required by
applicable law to be filed with or delivered to such taxing authorities. 
 (b) Without limiting the generality of Section 8.3(a)
hereof, the Parties agree that because Agent will conduct the Sale solely as agent for Merchant, the various payments that this Agreement contemplates (including the payment by Agent of the Guaranteed Amount) do not represent the sale of tangible
personal property and, accordingly, are not subject to Sales Taxes. 

  
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 8.4 Supplies. Agent shall have the right to use all existing supplies necessary to conduct
the Sale (e.g., boxes, bags, and twine, but not gift certificates, rain checks, merchandise credits, or the like) located at the Stores and/or the Distribution Centers and in connection with the Direct Business Platform at no charge to Agent.
In the event that additional supplies are required in any of the Stores or the Direct Business Platform, during the Sale Term, the acquisition of such additional supplies shall be the responsibility of Agent as an Expense; provided,
however, that if reasonably requested by Agent, Merchant shall assist Agent in obtaining supplies, at Agent’s expense, from Merchant’s vendors at Merchant’s usual and customary costs for such supplies. Merchant does not warrant
that Merchant’s existing supplies as of the Sale Commencement Date are adequate for purposes of the Sale. 
 8.5 Returns of
Merchandise. During the first thirty (30) days of the Sale, Agent shall accept returns of Merchandise sold by Merchant prior to the Sale Commencement Date in accordance with Merchant’s return policies in effect at the time of purchase
(to the extent presented in accordance with the foregoing terms, each such item being defined herein as “Returned Merchandise”). Merchant shall reimburse Agent in cash or credit against the following week’s payment for the
amount of any store credit or refund given to any customer in respect of Returned Merchandise. To the extent Returned Merchandise is salable as first quality merchandise, it shall be included in Merchandise and for purposes of the calculation of the
Guaranteed Amount and shall be as follows: (i) to the extent that such item of Returned Merchandise is received during the first fourteen (14) days following the Sale Commencement Date, at the Cost Value and Retail Price provided for above
applicable to such item; and (ii) to the extent that such item of Returned Merchandise is received during the period between the 15th day following the Sale Commencement Date and the 30th day following the Sale Commencement Date, at a value equal to the product of (x) the applicable Cost Value and Retail Price attributable to such item as provided for above, multiplied by
(y) the Prevailing Discount Adjustment applicable to such item. Subject to Merchant’s reimbursement to Agent of the amount of any store credit or refund granted for any such Returned Merchandise, the aggregate Cost Value of the Merchandise
and the Guaranteed Amount shall be adjusted accordingly. If the Returned Merchandise is not first quality goods, Merchant and Agent shall negotiate in good faith to determine an appropriate Cost Value applicable to such merchandise for purposes of
determining the Cost Value attributable thereto; provided that, in the event Merchant and Agent cannot agree on the Cost Value to be attributed to any particular item(s) of Returned Merchandise, then such item(s) shall be segregated
form Merchandise and excluded from the Sale and treated as Excluded Defective Merchandise for all purposes hereunder. Any reimbursements due to Agent as a result of Returned Merchandise shall be accounted for and paid by Merchant immediately
following the weekly Sale reconciliation pursuant to Section 8.7(a) hereof. Any increases in payment on account of the Guaranteed Amount as a result of Returned Merchandise shall be paid by Agent as part of the final Sale reconciliation
provided for under Section 8.7(b) hereof. 

  
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 8.6. Gift Cards; Merchandise Credits; Membership Program. 

(a) During the period between the Sale Commencement Date and the date that is thirty (30) days after entry of the Approval Order, Agent
shall accept Merchant’s gift cards, gift certificates, merchandise credits and other similar Merchant-issued credits, if any. Merchant shall reimburse Agent in cash for gift card, gift certificate, merchandise credit, and other similar Merchant
issued credit amounts redeemed during the Sale Term as part of the weekly sale reconciliation provided for in Section 8.7(a). 
 (b) To
the extent Merchant maintains any customer membership or customer loyalty discount programs, said customers may take advantage of discounts afforded customers in connection with Merchant’s customer membership or customer loyalty discount
programs (“Membership Program Discounts”) in addition to the then-prevailing Sale discounts being offered by Agent (for example, a “take an additional 10% off Membership Program Discount” may be combined with Agent’s
30% prevailing sale discount, such that the affected customer would receive an effective discount of 37%); provided that, Merchant shall reimburse Agent in cash for the incremental increased discount received as a consequence of the
recognition of such Membership Program Discounts (on a weekly basis as part of each weekly reconciliation). 
 8.7. Sale
Reconciliation. 
 (a) Weekly Reconciliation. On each Wednesday during the Sale Term, commencing on the second Wednesday after
the Sale Commencement Date, Agent and Merchant (in consultation with Lender and Committee) shall cooperate to reconcile Expenses, Gross Rings, and such other Sale-related items as either party shall reasonably request, in each case for the prior
week or partial week (i.e., Sunday through Saturday), pursuant to procedures agreed upon by Merchant (in consultation with Lender and Committee) and Agent. On a weekly basis, Agent shall also provide Merchant (and a copy to Lender and
Committee) with a report (in electronic format acceptable to Merchant) of all sales of Additional Agent Merchandise, which report shall detail by Store, at a minimum, gross and net sales and type of items sold. To ensure accurate sales audit
functions, Agent shall use Merchant’s existing point-of-sale system for recording all sales (including any sales of Additional Agent Merchandise) in the Stores. 

(b) Final Reconciliation. 

(i) Within thirty (30) days after the Sale Termination Date applicable to the last Store in which the Sale is concluded, Agent and
Merchant (in consultation with the Lender and Committee) shall jointly prepare a final reconciliation of the Sale including, without limitation, a summary of Proceeds, Sales Taxes, Expenses, and any other accountings required hereunder (the
“Final Reconciliation”). Within five (5) days after completion of the Final Reconciliation, any undisputed and unpaid Expenses shall be paid by Agent (the “Final Reconciliation Settlement Date”). In the absence
of an order of the Bankruptcy Court to the contrary, no disputed amounts owing hereunder shall be paid until the dispute has been resolved by agreement of the parties or as determined in the manner prescribed in Section 8.7(b)(ii) hereof.
During the Sale Term, and until all of Agent’s obligations under this Agreement have been satisfied, Merchant (in consultation with the Lender and Committee) and Agent shall have reasonable access to Merchant’s and Agent’s records
with respect to Proceeds, Sales Taxes, Expenses, and other Sale-related items to review and audit such records. 

  
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 (ii) In the event that there is any dispute with respect to either (x) the determination of
the aggregate Cost Value of the Merchandise as reflected in the Final Inventory Report and/or (y) the Final Reconciliation, such dispute shall be promptly (and in no event later than the fifth
(5th) business day following a request by either Merchant or Agent) submitted to the Bankruptcy Court for resolution. In the event of a dispute as to (x) or (y) above, Agent shall
extend the Letter of Credit in accordance with the provisions of Sections 3.4 or 4.2(b) hereof, as applicable. If Agent has for any reason not so extended the expiration date of the Letter of Credit by the date that is ten (10) business days
prior to the applicable expiration date (as may have been extended previously), Merchant and/or Lender shall have the right to make a drawing under the Letter of Credit in an amount or amounts equal to the undisputed amounts Merchant asserts are
then owing to Merchant. 
 8.8 Force Majeure. If any casualty, act of war or terrorism, or act of God prevents the conduct of
business in the ordinary course at any Store and/or Distribution Center for a period in excess of ten (10) consecutive days (a “Force Majeure Event”), such Store and/or Distribution Center and the Merchandise located at such
Store and/or Distribution Center shall be eliminated from the Sale and considered to be deleted from this Agreement as of the first date of such event, and Agent and Merchant shall have no further rights or obligations hereunder with respect
thereto; provided, however, that (i) the proceeds of any insurance attributable to such Merchandise shall constitute Proceeds hereunder, and (ii) the Guaranteed Amount shall be reduced to account for any Merchandise
eliminated from the Sale that is not the subject of insurance proceeds or consolidated by Agent into another Store(s) and/or Distribution Center(s) and, to the extent Agent has paid the Guaranteed Amount, Merchant (or Lender, to the extent Lender
has received such amount(s)), to the extent such insurance proceeds are actually received, shall reimburse Agent for the amount by which the Guaranteed Amount is so reduced prior to the end of the Sale Term. If a Store and/or Distribution Center is
eliminated from the Sale due to a Force Majeure Event, Agent will use its commercially reasonable efforts to transfer therefrom all Merchandise that is not the subject of insurance proceeds and include such Merchandise in the Sale at other Stores
and/or Distribution Centers. 
 8.9 Additional Agent Merchandise 

(a) Agent shall be entitled to include in the Sale additional merchandise procured by Agent which is of like kind, and no lesser quality to
the Merchandise located in the Stores (“Additional Agent Merchandise”). Agent agrees that Additional Agent Merchandise, if any, shall be procured from either Merchant’s existing vendors (“Existing Vendors”) or
third party vendors who are not Existing Vendors (“Third Party Vendors”) that sell merchandise of like kind, and no lesser quality to the Merchandise; provided however that, in the event Agent desires to include
Additional Agent Merchandise that is not of like kind and of equal quality to the Merchandise, the inclusion of any such merchandise shall be subject to the mutual agreement of Agent and Merchant. Agent shall be responsible for payment of the costs
associated with procuring any Additional Agent Merchandise as an Expense. Agent shall pay for all costs and expenses related to, or incurred in connection with, the marketing and sale of the Additional Agent Merchandise as an Expense of the Sale.
Agent further agrees that if it elects to include Additional Agent Merchandise in the Sale, Agent shall be authorized to utilize the Distribution Centers for the receipt, processing, handling and distribution of such Additional Agent Merchandise as
part of the Sale. 

  
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 (b) The Additional Agent Merchandise shall be at all times subject to the control of Agent, and
Merchant and Lender shall cooperate with Agent with respect to all filings (including, without limitation, UCC-1 financing statements) and other actions to the extent reasonably requested by Agent in connection with the Additional Agent Merchandise.
If requested by Agent, Merchant shall, at Agent’s expense as an Expense, insure the Additional Agent Merchandise and, if required, promptly file any proofs of loss with regard to same with Merchant’s insurers. 

(c) Any transactions relating to the Additional Agent Merchandise are, and shall be construed as, a true consignment from Agent to Merchant.
Merchant acknowledges, and the Approval Order (as and when applicable) shall provide, that the Additional Agent Merchandise shall be consigned to Merchant as a true consignment under Article 9 of the Uniform Commercial Code in effect in the State of
Utah (the “UCC”). Agent is hereby granted a first priority security interest in (i) the Additional Agent Merchandise and (ii) the Additional Agent Merchandise proceeds, which security interest Agent shall be authorized to
perfect prior to entry of the Approval Order, but which security interest shall, if not sooner perfected, be deemed perfected pursuant to the Approval Order (as and when applicable) without the requirement of filing UCC financing statements or
providing notifications to any prior secured parties (provided that Agent is hereby authorized to deliver any notices and file any financing statements and amendments thereof under the applicable UCC identifying Agent’s interest in the
Additional Agent Merchandise (and any proceeds from the sale thereof) as consigned goods thereunder and the Merchant as the consignee therefor, and Agent’s security interest in such Additional Agent Merchandise and Additional Agent Merchandise
proceeds). 
 (d) Lender hereby consents to the inclusion of the proceeds from the Sale of Additional Agent Merchandise as
“Proceeds” hereunder. 
 (e) In order to distinguish the Additional Agent Merchandise from the Merchandise located in the Stores,
Agent shall affix distinctive tags and/or other identifying markings on all items of Additional Agent Merchandise, which shall enable Merchant and Agent to distinguish sales of the Additional Agent Merchandise from sales of the Merchandise.
Additionally, Agent shall provide signage in the Stores and the Direct Business Platform notifying customers that the Additional Agent Merchandise has been included in the Sale. 

8.10 Direct Business Platform. Agent shall have the right to conduct the Sale using Merchant’s e-commerce based direct business
platform (the “Direct Business Platform”) In addition to, and without limiting, any other provision of this Agreement, Merchant hereby grants Agent a royalty-free sub-license (exclusive during the Sale Term) to use Merchant’s
Direct Business Platform and related platform (“Direct Business Platform”) to fulfill customer orders for purchases/sales of Merchandise and Additional Agent Merchandise (in Agent’s capacity as Agent hereunder). All proceeds of
such sales shall constitute Proceeds under this Agreement. Merchant shall provide Agent with all customary operations, systems, and services associated with the performance, operation and functionality of the Direct Business Platform and the
fulfillment of sales therefrom; provided, however, that Agent shall reimburse Merchant, as an Expense, the 

  
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amounts contemplated by Sections 4.1(u), (v), and (w). Merchant and Agent shall mutually agree on the date and procedures required to complete the Inventory Taking at the affected Distribution
Center(s). 
  

	Section 9.	Employee Matters. 

 9.1 Merchant’s Employees. Subject to the applicable
provisions of the Approval Order (as and when applicable) and any other provisions in this Agreement relating to employees, Agent may use Merchant’s Store and Distribution Center employees in the conduct of the Sale to the extent Agent deems
expedient, and Agent may select and, with Merchant, schedule the number and type of Merchant’s employees required for the Sale. Agent shall identify any such Store employees to be used in connection with the Sale (each such employee, a
“Retained Employee”) prior to the Sale Commencement Date. Retained Employees shall at all times remain employees of Merchant, and shall not be considered or deemed to be employees of Agent. Merchant and Agent agree that except to
the extent that wages, payroll taxes, benefits, and other costs relating to the employment of Retained Employees constitute Expenses hereunder and except as otherwise expressly provided in this Agreement, nothing contained in this Agreement and none
of Agent’s actions taken in respect of the Sale shall be deemed to constitute an assumption by Agent of any of Merchant’s obligations relating to any of Merchant’s employees including, without limitation, Excluded Benefits, Worker
Adjustment Retraining Notification Act (“WARN Act”) claims, and other termination-type claims and obligations, or any other amounts required to be paid by statute or law (except to the extent such items are amounts for which
Merchant is entitled to indemnification pursuant hereto), nor shall Agent become liable under any collective bargaining or employment agreement or be deemed a joint or successor employer with respect to such employees. Merchant shall not, without
Agent’s prior written consent, raise the salary or wages or increase the benefits for, or pay any bonuses or make any other extraordinary payments to, any of the Retained Employees, except as otherwise provided in this Agreement. 

9.2 Termination of Employees by Merchant. Agent may in its discretion stop using any Retained Employee at any time during the Sale. In
the event Agent determines to discontinue its use of any Retained Employee in connection with the conduct of the Sale, Agent will provide written notice to Merchant at least seven (7) days prior thereto, except for termination “for
cause” (such as dishonesty, fraud, or breach of employee duties), in which case the seven (7) day notice period shall not apply; provided, however, that Agent shall immediately notify Merchant of the basis for such
“cause”. During the Sale Term, Merchant shall not transfer or dismiss employees of the Stores except “for cause” without Agent’s prior consent (which consent shall not be unreasonably withheld). Notwithstanding any other
provision hereof, Agent will indemnify Merchant with respect to any claims by Retained Employees arising from Agent’s treatment of such Retained Employees. 

9.3 Payroll Matters. Subject to Section 4.1 hereof, during the Sale Term Merchant shall process the payroll for all Retained
Employees and any former employees and temporary labor engaged for the Sale. Each Wednesday prior to the date on which such payroll is payable (or such other date as may be reasonably requested by Merchant to permit the funding of the payroll
accounts before such payroll is due and payable) during the Sale Term, Agent shall transfer to Merchant’s payroll accounts an amount equal to the base payroll for Retained Employees plus related payroll taxes, workers’ compensation and
benefits for such week, in the amount equal to the Benefits Cap. 

  
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 9.4 Employee Retention Bonuses. Agent shall pay, as an Expense hereunder, retention
bonuses (“Retention Bonuses”) (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable) up to a maximum of approximately ten percent (10%) of base payroll, to certain Retained Employees
who do not voluntarily leave employment and are not terminated “for cause”, as Agent shall determine in its sole discretion. The amount of such Retention Bonuses, which will be payable within thirty (30) days after the Sale
Termination Date, shall be in an amount to be determined by Agent, in its discretion, and shall be processed through Merchant’s payroll system. Agent shall provide Merchant with a copy of Agent’s Retention Bonus plan within two
(2) business days after the Sale Commencement Date. Agent shall not utilize the Retention Bonus as a mechanism to encourage Retained Employees to act contrary to Merchant’s best interests. 

 

	Section 10.	Conditions Precedent. 

 10.1 Conditions to Agent’s Obligations. The
willingness of Agent to enter into the transactions contemplated under this Agreement is directly conditioned upon the satisfaction of the following conditions at the time or during the time periods indicated, unless specifically waived in writing
by Agent: 
 (a) All representations and warranties of Merchant hereunder shall be true and correct in all material respects and no Event of
Default shall have occurred at and as of the date hereof and as of the Sale Commencement Date; 
 (b) No injunction, stay or restraining
order shall be in effect prohibiting the consummation of the transactions contemplated by this Agreement (including, without limitation, the Sale); 

(c) The Lender shall have executed this Agreement in the space provided therefor; and 

(d) Notwithstanding anything in this Agreement or any Agency Document to the contrary, the enforceability of this Agreement is subject in all
respects to Agent’s express written approval and acceptance of any Exhibit or Agency Document not fully executed by the parties and attached hereto. 

10.2 Conditions to Merchant’s Obligations. The willingness of Merchant to enter into the transactions contemplated under this
Agreement is directly conditioned upon the satisfaction of the following conditions at the time or during the time periods indicated, unless specifically waived in writing by Merchant: 

(a) All representations and warranties of Agent hereunder shall be true and correct in all material respects and no Event of Default shall
have occurred at and as of the date hereof and as of the Sale Commencement Date; and 
 (b) Notwithstanding anything in this Agreement or
any Agency Document to the contrary, the enforceability of this Agreement is subject in all respects to Merchant’s express written approval and acceptance of any Exhibit or Agency Document not fully executed by the parties and attached hereto.

  
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	Section 11.	Representations, Warranties and Covenants. 

 11.1 Merchant’s Representations,
Warranties, and Covenants. Merchant hereby represents, warrants, and covenants in favor of Agent as follows: 
 (a) Merchant (i) is
a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware; (ii) has all requisite power and authority to own, lease, and operate its assets and properties and to carry on its business as
presently conducted; and (iii) is, and during the Sale Term will continue to be, duly authorized and qualified to do business and in good standing in each jurisdiction where the nature of its business or properties requires such qualification,
including all jurisdictions in which each Distribution Center and each Store is/are located, except, in each case, to the extent that the failure to be in good standing or so qualified could not reasonably be expected to have a material adverse
effect on the ability of Merchant to execute and deliver this Agreement and perform fully its obligations hereunder. 
 (b) Merchant has the
right, power, and authority to execute and deliver this Agreement and each other document and agreement contemplated hereby (collectively, together with this Agreement, the “Agency Documents”) and to perform fully its obligations
hereunder. Merchant has taken and, in the event of a bankruptcy filing shall take, all necessary actions required to authorize the execution, delivery, and performance of the Agency Documents, and no further consent or approval on the part of
Merchant is required for Merchant to enter into and deliver the Agency Documents, to perform its obligations thereunder, and to consummate the Sale. Each of the Agency Documents has been duly executed and delivered by Merchant and constitutes the
legal, valid, and binding obligation of Merchant, enforceable in accordance with its terms. Except as provided in this Agreement, no court order or decree of any federal, state, local, or provincial governmental authority or regulatory body is in
effect that would prevent or materially impair, or is required for Merchant’s consummation of, the transactions contemplated by this Agreement, and no consent of any third party that has not been obtained is required therefor, other than as
shall be obtained prior to the Sale Commencement Date, except for any such consent the failure of which to be obtained could not reasonably be expected to have a material adverse effect on the ability of Merchant to execute and deliver this
Agreement and perform fully its obligations hereunder. Other than for any consent as shall be obtained prior to the Sale Commencement Date, and any contracts or agreements identified by Merchant to Agent on or prior to the Sale Commencement Date, no
contract or other agreement to which Merchant is a party or by which Merchant is otherwise bound will prevent or materially impair the consummation of the Sale and the other transactions contemplated by this Agreement. 

(c) As of the date of this Agreement, Merchant has continued normal replenishment of Merchandise and supplies in and to the Stores. 

  
 40 

 (d) Merchant (i) except as set forth on Exhibit 11.1(d), owns and will own at
all times during the Sale Term, good and marketable title to all of the Merchandise free and clear of all liens, claims, and encumbrances of any nature; provided that, the liens identified in Exhibit 11.1(d) shall attach to the
Guaranteed Amount, and such other amounts due Merchant hereunder in the same extent and priority that such liens had in the Merchandise and Owned FF&E; and (ii) Merchant shall not create, incur, assume, or suffer to exist any security
interest, lien, or other charge or encumbrance upon or with respect to any of the Merchandise or the Proceeds, in each case, except for such pre-existing liens and security interests as shall have been disclosed by Merchant to Agent and identified
in Exhibit 11.1(d) hereof, which liens and security interests shall attach only to the Guaranteed Amount Expenses and any other amounts payable to Merchant hereunder. 

(e) Merchant has maintained its pricing files, including without limitation, the Cost File, at and in respect of all Stores and in respect of
the Direct Business Platform in the ordinary course of business, and prices charged to the public for goods (whether in-store, by advertisement, online, or otherwise) are the same in all material respects as set forth in such pricing files for the
periods indicated therein (without consideration of any point of sale markdowns, advertised sales, and other customary in-store, online, promotional or clearance activities). Each pricing file, including (without limitation) the Cost File, does not
include or reflect Excluded Pricing Adjustments. With regard to pricing files attributable to the Direct Business Merchandise, all such files were updated on or about November 29, 2014 to reflect the current selling price for such items of
Merchandise. 
 (f) Merchant shall ticket or mark all items of inventory received at the Stores prior to the Sale Commencement Date in a
manner consistent with similar Merchandise located at the Stores and in accordance with Merchant’s past practices and policies relative to pricing and marking inventory. 

(g) To the best of Merchant’s knowledge, all Merchandise is in material compliance with all applicable federal, state, and local product
safety laws, rules, and standards. Merchant shall provide Agent with its historic policies and practices, if any, regarding product recalls prior to the Sale Commencement Date. 

(h) Agent shall have the right during the Sale Term to the unencumbered use and occupancy of, and peaceful and quiet possession of, the Stores
and the Distribution Centers, the assets currently located at the Closing Locations, and the utilities and other services provided at the Closing Locations. Merchant shall, throughout the Sale Term, maintain in good working order, condition and
repair all cash registers, heating systems, air conditioning systems, elevators, escalators and all other mechanical devices necessary or appropriate for the conduct of the Sale at the Stores. Except as otherwise restricted by the Bankruptcy Code or
as provided herein and absent a bona fide dispute, throughout the Sale Term Merchant shall remain current on all expenses and payables necessary for the conduct of the Sale. 

(i) Merchant has paid and shall continue to pay until entry of an order for relief under the Bankruptcy Code, and, subject to the Approval
Order, Merchant shall continue to pay throughout the Sale Term, all self-insured or Merchant-funded employee benefit programs for Stores’ employees, including health and medical benefits and insurance and all proper claims made or to be made in
accordance with such programs. 

  
 41 

 (j) Supplies have not been, since November 1, 2014, and shall not be, prior to the Sale
Commencement Date, transferred by Merchant to or from the Stores so as to alter the mix or quantity of supplies at the Stores from that existing on such date, other than in the ordinary course of business. 

(k) Since November 1, 2014, Merchant (i) has not (and shall not, up to the Sale Commencement Date) marked up or raised the price of
any items of Merchandise, (ii) has not reduced has the price of any items of Merchandise, (iii) has sold inventory during such period at customary prices consistent with the ordinary course of business, and has not promoted or advertised
any sales or in-store promotions (including POS promotions) to the public other than as described on Exhibit 11.1(k) (in all cases whether or not consistent with Merchant’s ordinary course of business consistent with historic periods),
and (iv) has not removed or altered any tickets or any indicia of clearance merchandise or POS promotion, except in the ordinary course of business. 

(l) Except for (i) the Bankruptcy Case and (ii) the matters set forth on Exhibit 11.1(l), no action, arbitration, suit,
notice, or legal, administrative, or other proceeding before any court or governmental body has been instituted by or against Merchant, or has been settled or resolved, or to Merchant’s knowledge, is threatened against or affects Merchant,
relative to Merchant’s business or properties, or which questions the validity of this Agreement, or that if adversely determined, would adversely affect the conduct of the Sale. 

(m) Merchant is not a party to any collective bargaining agreements with its employees. No labor unions represent Merchant’s employees at
the Distribution Centers or at any Store. There are currently no strikes, work stoppages, or other labor disturbances affecting the any Distribution Center or any Store, or Merchant’s central office facilities. 

(n) Since November 1, 2014, Merchant has not taken, and shall not throughout the Sale Term take, any actions with the intent of
increasing the Expenses of the Sale, including without limitation increasing salaries or other amounts payable to employees; except to the extent an employee was due an annual raise in the ordinary course. 

(o) Since November 1, 2014, Merchant has operated, and, except as otherwise restricted by the Bankruptcy Code or as provided herein
(including as described in Section 11.1(c)), through the Sale Commencement Date, Merchant covenants to continue to operate, the Stores in all material respects in the ordinary course of business including without limitation by: (i) selling
inventory during such period at customary prices consistent with the ordinary course of business and not promoting or advertising any sales or in-store promotions (including POS promotions) to the public other than as described on Exhibit
11.1(o) (in all cases whether or not consistent with Merchant’s ordinary course of business consistent with historic periods); (ii) not returning inventory to vendors and not transferring inventory or supplies out of or to the Stores;
or (iii) except as may occur in the ordinary course of business, not making any management personnel moves or changes at the Stores; and (iv) not making any management personnel moves or changes that would have a material adverse effect on
the operation of the Direct Business Platform. 

  
 42 

 (p) To Merchant’s knowledge, formed after reasonable inquiry, all documents, information and
supplements provided by Merchant to Agent in connection with Agent’s due diligence and the negotiation of this Agreement were true and accurate in all material respects at the time provided. 

(q) Except as identified on Exhibit 11.1(q), no Store lease or similar occupancy agreement has expired, nor shall expire at any time
until the conclusion of the Sale Term in such Store (by its terms or otherwise). 
 (r) [Intentionally Omitted] 

(s) Merchant has not since November 1, 2014 knowingly shipped any Excluded Defective Merchandise from the Distribution Centers to the
Stores. Merchant will not ship any Excluded Defective Merchandise from the date of this Agreement from the Distribution Centers to the Stores. 

(t) Merchant (i) at the Sale Commencement Date will have, sufficient internal funds (without giving effect to any unfunded financing
regardless of whether any such financing is committed) to consummate the transactions contemplated by this Agreement and the other Agency Documents, (ii) at the Sale Commencement Date will have, the resources and capabilities (financial or
otherwise) to perform its obligations hereunder and under the other Agency Documents, and (iii) at the Sale Commencement Date, will not have incurred any obligation, commitment, restriction or liability of any kind which would impair or
adversely affect such funds, resources and capabilities. 
 (u) Merchant shall not, prior to the Sale Termination Date, offer any promotions
or discounts at the Stores or through the Direct Business Platform except as detailed on Exhibit 11.1(u). 
 11.2 Agent’s
Representations, Warranties and Covenants. Agent hereby represents, warrants, and covenants in favor of Merchant as follows: 
 (a) Each
entity composing Agent (i) is a limited liability company duly and validly existing and in good standing under the laws of the State of Delaware; (ii) has all requisite power and authority to carry on its business as presently conducted
and to consummate the transactions contemplated hereby; and (iii) is and during the Sale Term will continue to be duly authorized and qualified as a foreign company to do business and in good standing in each jurisdiction where the nature of
its business or properties requires such qualification. 
 (b) Agent has the right, power, and authority to execute and deliver each of the
Agency Documents to which it is a party and to perform fully its obligations thereunder. Agent has taken all necessary actions required to authorize the execution, delivery, and performance of the Agency Documents, and no further consent or approval
is required on the part of Agent for 

  
 43 

 
Agent to enter into and deliver the Agency Documents, to perform its obligations thereunder, and to consummate the Sale. Each of the Agency Documents has been duly executed and delivered by Agent
and constitutes the legal, valid, and binding obligation of Agent enforceable in accordance with its terms. No court order or decree of any federal, provincial, state, or local governmental authority or regulatory body is in effect that would
prevent or impair or is required for Agent’s consummation of the transactions contemplated by this Agreement, and no consent of any third party which has not been obtained is required therefor other than as provided herein. No contract or other
agreement to which Agent is a party or by which Agent is otherwise bound will prevent or impair the consummation of the transactions contemplated by this Agreement. 

(c) No action, arbitration, suit, notice, or legal, administrative, or other proceeding before any court or governmental body has been
instituted by or against Agent, or has been settled or resolved, or to Agent’s knowledge, has been threatened against or affects Agent, which questions the validity of this Agreement or any action taken or to be taken by Agent in connection
with this Agreement, or which if adversely determined, would have a material adverse effect upon Agent’s ability to perform its obligations under this Agreement. 
  

	Section 12.	Insurance. 

 12.1 Merchant’s Liability Insurance. Merchant shall continue
until the Sale Termination Date, in such amounts as it currently has in effect, all of its liability insurance policies including, but not limited to, products liability, comprehensive public liability, auto liability, and umbrella liability
insurance, covering injuries to persons and property in, or in connection with Merchant’s operation of the Stores, and shall use best efforts to cause Agent to be named an additional insured with respect to all such policies. Prior to the Sale
Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance setting forth the duration thereof and naming Agent as an additional named insured, in form reasonably satisfactory to Agent. All such policies shall require
at least thirty (30) days’ prior notice to Agent of cancellation, non-renewal, or material change. In the event of a claim under any such policies, (a) Merchant shall be responsible for the payment of all deductibles, retentions, or
self-insured amounts to the extent such claim arises from or relates to the alleged acts or omissions of Merchant or its employees (other than Retained Employees), agents (other than Agent’s employees), or independent contractors (other than
Agent and Supervisors hired by Agent in conjunction with the Sale) and (b) Agent shall be responsible for the payment of all deductibles, retentions, or self-insured amounts (which amounts shall constitute Expenses) to the extent such claim
arises from or relates to the alleged acts or omissions of Agent or its employees, agents, or independent contractors, including Retained Employees. 

12.2 Merchant’s Casualty Insurance. Merchant shall continue until the Sale Termination Date, in such amounts as it currently has
in effect, fire, flood, theft, and extended coverage casualty insurance covering the Merchandise in a total amount equal to no less than the Cost Value thereof, which coverage shall be reduced from time to time to take into account the sale of
Merchandise. In the event of a loss to the Merchandise on or after the date of this Agreement, the proceeds of such insurance attributable to the Merchandise and/or Additional Agent Merchandise (net of any deductible) shall constitute Proceeds.
Prior to the Sale Commencement Date, Merchant shall deliver to Agent certificates evidencing such insurance setting forth the duration thereof, in form and substance reasonably satisfactory to Agent. All such policies shall require at least thirty

  
 44 

 
(30) days’ prior notice to Agent of cancellation, non-renewal, or material change. Merchant shall not make any change in the amount of any deductibles or self-insurance amounts prior to the
Sale Termination Date (as may be extended from time to time as set forth herein) without Agent’s prior written consent. 
 12.3
Worker’s Compensation Insurance. Merchant shall continue until the Sale Termination Date, in such amounts as it currently has in effect, worker’s compensation insurance (including employer liability insurance) covering all Retained
Employees in compliance with all statutory requirements. Prior to the Sale Commencement Date, Merchant shall deliver to Agent a certificate of its insurance broker or carrier evidencing such insurance. 

12.4 Agent’s Insurance. As an Expense of the Sale, Agent shall maintain throughout the Sale Term, in such amounts as it currently
has in effect, comprehensive public liability and automobile liability insurance policies covering injuries to persons and property in or in connection with Agent’s agency at the Stores, and shall cause Merchant to be named an additional
insured with respect to such policies. Prior to the Sale Commencement Date, Agent shall deliver to Merchant certificates evidencing such insurance policies, setting forth the duration thereof and naming Merchant as an additional insured, in form and
substance reasonably satisfactory to Merchant. In the event of a claim under such policies, Agent shall be responsible for the payment of all deductibles, retentions, or self-insured amounts thereunder, to the extent such claim arises from or
relates to the alleged acts or omissions of Agent or Agent’s employees, agents or Supervisors. 
 12.5 Risk of Loss. Without
limiting any other provision of this Agreement, Merchant acknowledges that Agent is conducting the Sale on behalf of Merchant solely in the capacity of an agent, and that in such capacity (i) Agent shall not be deemed to be in possession or
control of the Stores or the assets located therein or associated therewith, or of Merchant’s employees located at the Stores, and (ii) except as expressly provided in this Agreement, Agent does not assume any of Merchant’s
obligations or liabilities with respect to any of the foregoing. Agent shall not be deemed to be a successor employer. Merchant and Agent agree that, subject to the terms of this Agreement, Agent shall bear all responsibility for liability claims of
customers, employees, and other persons arising from events occurring at the Stores during and after the Sale Term (an “Agent Claim”). In the event of any liability claim other than an Agent Claim, Merchant shall administer such
claim and shall present such claim to Merchant’s liability insurance carrier in accordance with Merchant’s policies and procedures existing immediately prior to the Sale Commencement Date, and shall provide a copy of the initial
documentation relating to such claim to Agent at the address listed in this Agreement. To the extent that Merchant and Agent agree that a claim constitutes an Agent Claim, Agent shall administer such claim and shall present such claim to its
liability insurance carrier, and shall provide copies of the initial documentation relating to such claim to Merchant. In the event that Merchant and Agent cannot agree whether a claim constitutes an Agent Claim, each party shall present the claim
to its own liability insurance carrier, and a copy of the initial claim documentation shall be delivered to the other party to the address designated for delivery of notices hereunder. 

  
 45 

	Section 13.	Indemnification. 

 13.1 Merchant Indemnification. Merchant shall indemnify and
hold Agent and each Agent Indemnified Party harmless from and against all claims, demands, penalties, losses, liability, or damage, including, without limitation, reasonable attorneys’ fees and expenses, asserted directly or indirectly against
Agent resulting from or related to: 
 (a) Merchant’s material breach of or failure to comply with any of its agreements, covenants,
representations or warranties contained in any Agency Document; 
 (b) any failure of Merchant to pay to its employees any wages, salaries,
or benefits due to such employees during the Sale Term or other claims asserted against Agent by Merchant’s employees resulting from Merchant’s (and not Agent’s) treatment of its employees; 

(c) subject to Agent’s compliance with its obligations under Section 8.3 hereof, any failure by Merchant to pay any Sales Taxes to
the proper taxing authorities or to properly file with any taxing authorities any reports or documents required by applicable law to be filed in respect thereof; 

(d) any consumer warranty or products liability claims relating to Merchandise and/or Additional Agent Merchandise; 

(e) any liability or other claims asserted by customers, any of Merchant’s employees, or any other person against any Agent Indemnified
Party (including, without limitation, claims by employees arising under collective bargaining agreements, worker’s compensation or under the WARN Act); 

(f) any harassment or any other unlawful, tortious, or otherwise actionable treatment of any customers, employees or agents of Agent by
Merchant or any of its representatives; and 
 (g) the gross negligence or willful misconduct of Merchant or any of its officers, directors,
employees, agents (other than Agent), or representatives. 
 The indemnification obligations set forth in this Section 13.1 shall be in addition to
(and shall not limit) any other indemnification obligations of Merchant set forth in this Agreement, including without limitation those set forth in Section 8.3(a). 

13.2 Agent Indemnification. Agent shall jointly and severally indemnify and hold harmless Merchant and the Merchant Indemnified Parties
from and against all claims, demands, penalties, losses, liability, or damage, including, without limitation, reasonable attorneys’ fees and expenses, asserted directly or indirectly against Merchant resulting from or related to (including acts
or omissions of persons or entities affiliated with or acting on behalf of Agent): 
 (a) Agent’s material breach of or failure to
comply with any Safety Laws or any of its agreements, covenants, representations, or warranties contained in any Agency Document; 

  
 46 

 (b) any harassment, discrimination, or violation of any laws or regulations or any other
unlawful, tortious, or otherwise actionable treatment of any employees or agents of Merchant by Agent or any of its employees, agents, independent contractors, Supervisors, or other officers, directors, or representatives of Agent; 

(c) any claims by any party engaged by Agent as an employee or independent contractor arising out of such engagement; 

(d) any Agent Claims; 
 (e) any
Additional Taxes and Penalties arising out of Agent’s failure to collect and/or remit to Merchant correct amounts of Sales Taxes (including any such failure resulting from Agent’s use of any system other than Merchant’s point of sale
system to compute Sales Taxes relating to the Sale); 
 (h) the gross negligence, willful misconduct, or fraud of Agent or any of its
officers, directors, employees, agents, or representatives; and 
 (i) any consumer warranty or products liability claims arising out of or
related to the sale of Additional Agent Merchandise. 
 The indemnification obligations set forth in this Section 13.2 shall be in addition to (and
shall not limit) any other indemnification obligations of Agent set forth in this Agreement, including without limitation those set forth in Section 8.3(a). 
  

	Section 14.	Defaults. 

 The following shall constitute “Events of Default”
hereunder: 
 (a) Merchant’s or Agent’s failure to perform any of their respective material obligations hereunder, which failure
shall continue uncured seven (7) days after receipt of written notice thereof to the defaulting party; or 
 (b) Any representation or
warranty made by Merchant or Agent proves untrue in any material respect as of the date made or at any time and throughout the Sale Term; 

(c) The Approval Order is not entered by the Bankruptcy Court by December 24, 2014; 

(d) The filing of a motion by any party to covert or the conversion of the Merchant’s bankruptcy case to a case under another chapter of
the Bankruptcy Code (other than chapter 11) or the filing of a motion by any party to appoint or the appointment of a chapter 11 trustee; or 

(e) Subject to Section 8.8 hereof, the Sale is terminated or materially interrupted or impaired at any Store or the Direct Business
Platform or the Distribution Centers for any reason other than (i) an Event of Default by Agent or (ii) any other material breach or action by Agent not authorized hereunder; or 

(f) Once executed by Merchant, Agent, and Lender, Merchant or Lender consider competing bids or Merchant or Lender hereby continue, begin, or
initiate communications with any third party who expressed or who may express an interest in selling (including in capacity as an agent), acquiring, or disposing of Merchant’s assets that are the subject of this Agreement. 

  
 47 

 In the event of an Event of Default, the non-defaulting party (in the case of (a) or
(b) above, or the Agent in the case of (c), (d), (e) or (f) above) may, in its discretion, elect to terminate this Agreement upon seven (7) business days’ written notice to the other party and pursue any and all rights and
remedies and damages resulting from such default hereunder in the event such cure is not effected by the defaulting party. 
  

	Section 15.	Fixtures. 

 (a) In partial consideration, and as a material component of the payment of
the Guaranteed Amount, with respect to any furniture, fixtures and equipment (including, but not limited to (i) machinery, rolling stock, office equipment, computers, servers, and hardware used or utilized in connection with or associated with
the Direct Business Platform, and personal property owned by Merchant and located at the Stores or Merchant’s corporate offices and, solely with respect to computers, servers, and hardware used or utilized in connection with or associated with
the Direct Business Platform, at the Distribution Centers; and (ii) such other items in the file entitled “FF&E Assets” provided by Merchant to Agent (exclusive in all instances of Owned DC FF&E referenced in such file
(collectively, the “Owned FF&E”), Agent shall have the sole and exclusive right to sell the Owned FF&E for Agent’s sole and exclusive benefit and at Agent’s sole cost and expense (other than rent and other
occupancy expenses associated with the corporate office, which amounts shall be paid by Merchant); provided, further, that, in that regard, Agent shall be entitled to retain all proceeds (which for the avoidance of doubt shall not
constitute Proceeds or Asset Proceeds) from the sale or other disposition of the Owned FF&E, and Agent shall be responsible for the payment of all costs and expenses associated with the sale or other disposition of the Owned FF&E (other than
rent and other occupancy expenses associated with the corporate office, which amounts shall be paid by Merchant). In addition, with respect to furniture, fixtures and equipment (including, but not limited to, machinery, rolling stock, office
equipment, conveyors, racking, and personal property (other than computers, servers, and hardware used or utilized in connection with or associated with the Direct Business Platform) owned by Merchant and located at the Distribution Centers
(collectively without the computers, servers, and hardware used or utilized in connection with or associated with the Direct Business Platform, the “Owned DC FF&E”)), if Merchant requests and at Merchant’s election (in
consultation with the Lender and the Committee) (the “DC FF&E Sale Option”), Agent shall either (i) sell the Owned DC FF&E strictly on a commission basis (the “DC FF&E Commission Option”), or
(ii) sell the Owned DC FF&E on a guaranteed fee basis (the “DC FF&E Guaranty Option”); provided that, the DC FF&E Guaranty Option shall be subject to the Merchant (in consultation with the Lender and
the Committee) and Agent agreeing on a mutually acceptable Owned DC FF&E/asset listing and DC FF&E Guaranty Amount (as defined below). Merchant (in consultation with the Lender and 

  
 48 

 
the Committee) shall exercise the aforementioned Owned FF&E Sale Option by written notice to Agent. In the event Merchant elects the DC FF&E Commission Option, Agent shall be entitled to
receive a commission equal to twenty percent (20%) of the gross proceeds from the sale of such Owned DC FF&E (“Agent’s DC FF&E Commission”); provided, however, in such case Merchant shall be
responsible for payment of expenses incurred in connection with the disposition of the Owned DC FF&E (“DC FF&E Disposition Expenses”) in accordance with a budget to be mutually agreed upon between Merchant (in consultation
with the Lender and the Committee) and Agent (“DC FF&E Disposition Budget”), and all proceeds realized from the disposition of the Owned DC FF&E, after deduction of applicable sales taxes, Agent’s DC FF&E
Commission, and the DC FF&E Disposition Expenses (collectively, the “Net DC FF&E Proceeds”), shall be paid to Lender, as Merchant’s designee to the extent that the Lender has not been paid in full. In the event Merchant
(in consultation with the Committee) elects the DC FF&E Guaranty Option, Agent shall pay Merchant a lump sum payment in an amount to be agreed upon between Agent and Merchant, in consultation with Lender and the Committee (hereinafter, the
“DC FF&E Guaranty Amount”), in which case all costs and expenses associated with the disposition of Owned DC FF&E (other than rent and other occupancy expenses associated with the Distribution Centers, which amounts shall be
paid by Merchant) shall be borne by Agent, and all proceeds realized from the sale or other disposition of the Owned DC FF&E (after payment of the applicable DC FF&E Guaranty Amount and net of any applicable sales taxes) shall be retained by
Agent for its sole and exclusive benefit and shall not constitute Proceeds or Asset Sale Proceeds. 
 (b) Anything in this Agreement to the
contrary notwithstanding, Agent shall be authorized to abandon any and all unsold Owned FF&E or Owned DC FF&E (and all other furniture, fixtures, and equipment at the Stores, Distribution Centers and corporate offices) in place without any
cost or liability to Agent. Agent shall have no responsibility whatsoever with respect to furniture, fixtures, and equipment located at the Stores, Distribution Centers and/or corporate offices which are not owned by Merchant. 

(c) Merchant hereby represents to Agent that: (i) all Owned FF&E and Owned DC FF&E may be sold by Agent on Merchant’s
behalf, free and clear of all claims, liens and encumbrances of any kind; and (ii) all such Owned FF&E and Owned DC FF&E is devoid of Hazardous Materials. 

(d) Anything in this Agreement to the contrary notwithstanding, Agent will not have any obligation whatsoever to purchase, sell, make, store,
handle, treat, dispose, generate, transport or remove any Hazardous Materials that may be located at the Stores, Distribution Centers and/or Merchant’s corporate offices or otherwise. Agent shall have no liability to any party for any
environmental action brought: (i) that is related to the storage, handling, treatment, disposition, generation, or transportation of Hazardous Materials, or (ii) in connection with any remedial actions associated therewith or the Stores,
Distribution Centers and/or Merchant’s corporate offices. Merchant (and not Agent) shall be solely responsible to remove from the Stores, Distribution Centers and Merchant’s corporate offices all Hazardous Materials. For purposes of this
Agreement, the term “Hazardous Materials” means, collectively, any chemical, solid, liquid, gas, or other substance having the characteristics identified in, listed under, or designated pursuant to (i) the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C.A. 9601(14), as a “hazardous substance”, (ii) the Resource Conservation and 

  
 49 

 
Recovery Act, 42 U.S.C.A. 6903(5) and 6921, as a “hazardous waste”, or (iii) any other laws, statutes or regulations of a government or political subdivision or agency thereof, as
presenting an imminent and substantial danger to the public health or welfare or to the environment or as otherwise requiring special handling, collection, storage, treatment, disposal, or transportation. 

(e) In respect of the sale of Owned FF&E at or from the corporate offices, the effective date of any such sale of Owned FF&E shall not
become effective until Merchant has discontinued use of such Owned FF&E. From time to time, Merchant shall cooperate with Agent to identify Owned FF&E at the corporate offices for which Merchant has discontinued use or will discontinue use
in the then near future. Once Merchant has discontinued the use of all or substantially all Owned FF&E, Merchant and Agent shall mutually agree upon a reasonably period of time during which the Agent may complete remaining sales of Owned
FF&E and the corporate offices and provide purchasers thereof with reasonable access to remove such purchased Owned FF&E. 
  

	Section 16.	Miscellaneous. 

 16.1 Notices. All notices and communications provided for
pursuant to this Agreement shall be in writing, and sent by hand, by e-mail, and/or a recognized overnight delivery service, as follows: 

If to Agent: 
 Gordon
Brothers Retail Partners, LLC 
 Prudential Tower 

800 Boylston Street 
 Boston, MA
02119 
 Attn:       Michael Chartock 

Tel:         617.210.7116 

Email:     mchartock@gordonbrothers.com 

-and- 
 Hilco Merchant Resources,
LLC 
 5 Revere Drive, Suite 206 

Northbrook, IL 60062 

Attn:       Ian S. Fredericks 

Tel:         847.418.2075 

Email:     ifredericks@hilcotrading.com 

If to Merchant: 
 Delia*s,
Inc. 
 50 W 23rd Street – 10th Floor 

New York, NY 10010 

Attn:      Ryan Schreiber, Esq. 

              President, General Counsel & Secretary 

Tel:        212.590-6204 

Email:    rschreiber@deliasinc.com 

  
 50 

 With a copy to (which shall not constitute notice): 

DLA Piper 
 1251 Avenue of the
Americas 
 New York, New York 10020-1104 

Attn:       Gregg M. Galardi, Esq. 

Tel:         212.335.4640 

Email:     Gregg.Galardi@dlapiper.com 

If to Lender: 
 Salus
Capital Partners, LLC 
 197 First Avenue, suite 250 

Needham Heights, MA 02494 

Attn:       Kyle C. Shonak 

Tel:         617.420.2663 

Email:     kshonak@saluscapital.com 

With a copy to (which shall not constitute notice): 

Choate Hall & Stewart, LLP 

Two International Place 
 Boston,
MA 02110 
 Attn:       John F. Ventola, Esq. 

Tel:         617.248.5085 

Email:     jventola@choate.com 

-and- 
 DiConza Traurig Kadish,
LLP 
 630 Third Avenue – 7th Floor 

New York, NY 10017 

Attn:       Maura I. Russell, Esq. 

Tel:         212.682.4940 

Email:     mailto:mrussell@dtklawgroup.com 

If to Committee: 
 Kelley
Drye & Warren LLP 
 101 Park Avenue, 27th Floor 

New York, NY 10178 
 o:
(212) 808-7573 | m: (646) 263-9536 
 Attn: Robert LeHane 

Tel: (212) 808-7573 
 Email:
rlehane@kelleydrye.com 

  
 51 

 16.2 Governing Law; Consent to Jurisdiction. This Agreement shall be governed and
construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles thereof. The parties hereto agree that the Bankruptcy Court (and the District Court and Circuit Court of Appeal with appellate
jurisdiction over the Bankruptcy Court) shall retain exclusive jurisdiction to hear and finally determine any disputes arising from or under this Agreement, and by execution of this Agreement each party hereby irrevocably accepts and submits to the
jurisdiction of such court with respect to any such action or proceeding and to service of process by certified mail, return receipt requested to the address listed above for each party. 

16.3 Entire Agreement. This Agreement, the Exhibits hereto, and the Agency Documents (subject, in each instance, to the Approval Order
as and where applicable) contain the entire agreement between the Parties with respect to the transactions contemplated hereby and supersede and cancel all prior agreements, including but not limited to all proposals, letters of intent, or
representations, written or oral, with respect thereto. 
 16.4 Amendments. This Agreement, the Exhibits hereto, and the Agency
Documents may not be modified except in a written instrument executed by each of the Merchant (in consultation with the Committee) and Agent; provided, however, that no modification may be made to this Agreement without the express consent of the
Lender. 
 16.5 No Waiver. No party’s consent to or waiver of any breach or default by the other in the performance of its
obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance by such other party of the same or any other obligation of such party. Failure on the part of any party to complain
of any act or failure to act by the other party or to declare the other party in default, irrespective of how long such failure continues, shall not constitute a waiver by such party of its rights hereunder. 

16.6 Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of Agent and
Merchant, including but not limited to any chapter 11 or chapter 7 trustee. No party to this Agreement shall be permitted to assign its obligations under this Agreement. 

16.7 Execution in Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an
original and all of which together shall constitute but one agreement. This Agreement may be executed by facsimile or other electronic means, and such facsimile or electronic signature shall be treated as an original signature hereunder. 

16.8 Section Headings. The headings of Sections of this Agreement are inserted for convenience only and shall not be considered for the
purpose of determining the meaning or legal effect of any provisions hereof. 

  
 52 

 16.9 Survival. All representations, warranties, covenants and agreements made herein shall
be continuing, shall be considered to have been relied upon by the Parties and shall survive the execution, delivery, and performance of this Agreement. 

16.10. Termination. This Agreement shall remain in full force and effect until the first to occur of (i) receipt by Merchant of
written notice from Agent that any of the conditions specified in Section 10 hereof have not been satisfied or (ii) termination upon the occurrence of an Event of Default in accordance with Section 14 of this Agreement, or
(iii) the expiration of the Sale Term and completion and certification by Merchant and Agent of the Final Reconciliation pursuant to Section 8.7(b) above. Notwithstanding the foregoing, (a) the representations, warranties, and
indemnities of Merchant and Agent contained herein and the provisions of Section 11 above, and (b) any claim arising from a breach of this Agreement prior to its termination, shall survive the termination of this Agreement pursuant to this
Section 16.10. 
 16.11 Agent’s Security Interest. 

(a) In consideration of and subject to and effective upon payment by Agent of the Initial Guaranty Payment and the initial portion of the MOOS
Guaranteed Amount on the Payment Date and delivery of the Letter of Credit to the Lender, as Merchant’s designee, Merchant hereby grants to Agent first priority, senior security interests in and liens (subject to the subordination provisions
set forth herein below) upon: (i) the Merchandise; (ii) the Additional Agent Merchandise; (iii) all Proceeds (including, without limitation, credit card Proceeds); (iv) the Agent’s commission regarding the sale or other
disposition of Merchant Consignment Goods under Section 5.4 hereof and DC FF&E Commission; (v) the Owned FF&E and the proceeds realized from the sale or other disposition of Owned FF&E; (vi) Agent’s percentage share
in excess of the Sharing Threshold, and (vii) all “proceeds” (within the meaning of Section 9-102(a)(64) of the UCC) of each of the foregoing (all of which are collectively referred to herein as the “Agent
Collateral”), to secure the full payment and performance of all obligations of Merchant to Agent hereunder. Upon entry of the Approval Order, payment of the Initial Guaranty Payment and the initial portion of the MOOS Guaranteed Amount on
the Payment Date, and delivery of the Letter of Credit to the Lender, the security interest granted to the Agent hereunder shall be deemed properly perfected without the necessity of filing UCC-1 financing statements or any other documentation. 

(b) Without any further act by or on behalf of the Agent or any other party (including (without limitation) the Lender and Merchant), the
Agent’s security interests and liens in the Agent Collateral created hereunder are (i) validly created, (ii) effective upon entry of the Approval Order, perfected, and (iii) senior to all other liens and security interests,
provided, however, that (x) until the Merchant receives payment in full of the Guaranteed Amount, the MOOS Guaranteed Amount, the 3PL Expenses (to the extent the Agent does not pay them to the 3PL directly), Expenses, and such
other amounts due to Merchant hereunder, the security interest granted to Agent hereunder shall be junior and subordinate in all respects to the security interests of Lender in the Agent Collateral but solely to the extent and amount of the unpaid
portion of the any of the Guaranteed Amount and MOOS Guaranteed Amount, Expenses, the 3PL Expenses (to the extent the Agent does not pay them to the 3PL directly), and such other amounts due to Merchant hereunder, and (y) upon payment in full
of the Guaranteed Amount, the MOOS 

  
 53 

 
Guaranteed Amount, Expenses, the 3PL Expenses (to the extent the Agent does not pay them to the 3PL directly), and such other amounts due to Merchant hereunder, any security interest or lien of
the Lender in the Agent Collateral shall be junior and subordinate in all respects to the security interest and liens of Agent in the Agent Collateral. Merchant and Lender shall cooperate with Agent with respect to all filings (including, without
limitation, UCC-1 financing statements) and other actions to the extent reasonably requested by Agent in connection with the security interests and liens granted under this Agreement. 

(c) Merchant will not sell, grant, assign or transfer any security interest in, or permit to exist any encumbrance on, any of the Agent
Collateral other than in favor of the Agent and Lender. 
 (d) In the event of a Default by the Merchant hereunder, in any jurisdiction
where the enforcement of its rights hereunder is sought, the Agent shall have, in addition to all other rights and remedies, the rights and remedies of a secured party under the UCC. 

[REMAINDER OF PAGE INTENTIONALLY BLANK] 

  
 54 

 IN WITNESS WHEREOF, Agent and Merchant hereby execute this Agency Agreement as of the day and
year first written above. 
  

					
	AGENT:
	
	GORDON BROTHERS RETAIL PARTNERS, LLC
		
	By:	 	 /s/ Richard Edwards

		 	Name:	 	Richard Edwards
		 	Title:	 	Co-President - Retail
	
	HILCO MERCHANT RESOURCES, LLC
		
	By:	 	 /s/ Ian Fredericks

		 	Name:	 	Ian Fredericks
		 	Title:	 	VP & Assistant General Counsel, Managing Member
	
	MERCHANT:
	
	DELIA*S, INC.
		
	By:	 	 /s/ Ryan Schreiber

		 	Name:	 	Ryan Schreiber
		 	Title:	 	President, General Counsel & Secretary

  

					
	
	THE PROVISIONS OF THIS AGREEMENT ARE HEREBY CONSENTED AND AGREED TO, INCLUDING SECTIONS 3.3(c), 3.3(d), 3.3(g), 3.3(h), 4.1, 8.3, 8.8, 8.9, 15, 16.11 and 16.12:
	
	SALUS CAPITAL PARTNERS, LLC,
	As Lender
		
	By:	 	 /s/ Kyle Shonak

		 	Name:	 	Kyle Shonak
		 	Title:	 	Executive Vice President-Special Opportunities

  
 55 

 Delia’s 

Store List 
 Exhibit A-1

  

																	
	 Store No.
	 	 Store
	 	 Address
	 	 Address 2
	 	 City
	 	 State
	 	 Zip Code
	 	 Telephone No.
	 	 Square Ft

									
	202	 	Willowbrook Mall	 	2165 Willowbrook Mall	 		 	Wayne	 	NJ	 	07470	 		 	3,818
	207	 	Menlo Park Mall	 	100 Menlo Park Road	 	Suite 1540B	 	Edison	 	NJ	 	08837	 		 	4,057
	210	 	Natick Mall	 	1245 Worcester Street	 	Space 2146	 	Natick	 	MA	 	01760	 		 	3,729
	215	 	Towson Town Center	 	825 Dulaney Valley Rd	 	Space 1045	 	Towson	 	MD	 	21204	 		 	4,326
	216	 	The Plaza at King of Prussia	 	160 N. Gulph Road	 	Suite 1307	 	King of Prussia	 	PA	 	19406	 		 	3,936
	219	 	Woodfield Shopping Center	 	5 Woodfield Shopping Center	 	Space L301	 	Schaumburg	 	IL	 	60173	 		 	3,055
	229	 	Roosevelt Field Mall	 	630 Old Country Rd	 	Space 1034	 	Garden City	 	NY	 	11530	 		 	3,953
	233	 	Bridgewater Commons	 	400 Commons Way	 	Space 3395	 	Bridgewater	 	NJ	 	08807	 		 	2,610
	241	 	Lehigh Valley Mall	 	250 Lehigh Valley Mall	 	Space 2036B	 	Whitehall	 	PA	 	18052	 		 	3,316
	242	 	The Mall at Robinson	 	100 Robinson Center Drive	 	Space 2410	 	Pittsburgh	 	PA	 	15205	 		 	3,552
	250	 	Crossgates Mall	 	1 Crossgates Mall Road	 	Space B-105	 	Albany	 	NY	 	12203	 		 	3,500
	251	 	The Parks at Arlington	 	3811 S. Cooper Street	 	Space 1410	 	Arlington	 	TX	 	76015	 		 	3,593
	256	 	Easton Town Center	 	136 Easton Town Center	 	Space C-102	 	Columbus	 	OH	 	43219	 		 	3,500
	257	 	Wolfchase Galleria	 	2760 N. Germantown Parkway	 	Space 2210	 	Memphis	 	TN	 	38133	 		 	3,372
	260	 	Riverchase Galleria	 	2000 Riverchase Galleria	 	Space 276A	 	Hoover	 	AL	 	35244	 		 	3,460
	265	 	Mall of Georgia	 	3333 Buford Drive	 	Space 1026	 	Buford	 	GA	 	30519	 		 	4,200
	267	 	Short Pump Town Center	 	11800 West Broad St.	 	Suite 2032	 	Richmond	 	VA	 	23233	 		 	3,706
	268	 	Coastal Grand	 	2000 Coastal Grand Circle	 	Suite 400	 	Myrtle Beach	 	SC	 	29577	 		 	3,434
	269	 	Montgomery Mall	 	130 Montgomery Mall	 		 	North Wales	 	PA	 	19454	 		 	3,950
	270	 	Deptford Mall	 	1750 Deptford Center Rd.	 	Suite 2066	 	Deptford	 	NJ	 	08096	 		 	3,661
	271	 	Twelve Oaks	 	27666 Novi Road	 	Space C175	 	Novi	 	MI	 	48377	 		 	3,289
	273	 	Northlake Mall	 	6801 Northlake Mall Drive	 	Suite 159/157	 	Charlotte	 	NC	 	28216	 		 	3,500
	274	 	Mall of America	 	270 North Garden	 		 	Bloomington	 	MN	 	55425	 		 	4,292
	275	 	The Mall at Wellington Green	 	10300 West Forest Hill Blvd	 	Suite 172	 	Wellington	 	FL	 	33414	 		 	3,626
	276	 	Hamilton Mall	 	4403 Black Horse Pike	 	Suite 2042A	 	Mays Landing	 	NJ	 	08330	 		 	3,318
	277	 	The Town Center at Cobb	 	400 Ernest Barrett Parkway	 	Space 166	 	Kennesaw	 	GA	 	30144	 		 	3,369
	278	 	NorthPark Center	 	8687 North Central Expressway	 	Suite 2104	 	Dallas	 	TX	 	75225	 		 	4,550
	279	 	Southlake Town Square	 	331 Grand Avenue East	 		 	Southlake	 	TX	 	76092	 		 	3,542
	280	 	Firewheel Town Center	 	490 Cedar Sage Drive	 	Space L01	 	Garland	 	TX	 	75040	 		 	3,950
	281	 	Pheasant Lane Mall	 	310 Daniel Webster Highway	 	Space E211B	 	Nashua	 	NH	 	03060	 		 	4,018
	282	 	Connecticut Post	 	1201 Boston Post Rd	 	Space 2424	 	Milford	 	CT	 	06460	 		 	3,757
	283	 	Clay Terrace	 	14511 Clay Terrace Blvd	 	Space 100	 	Carmel	 	IN	 	46032	 		 	4,055
	284	 	The Shops at Willowbend	 	6121 W. Park Blvd	 	Space A-113	 	Plano	 	TX	 	75093	 		 	3,647
	285	 	Galleria @ Ft. Lauderdale	 	2368 East Sunrise Blvd	 	Space A-08	 	Ft. Lauderdale	 	FL	 	33304	 		 	4,517
	286	 	The Greene	 	81 Chestnut St.	 	Space B-118	 	Beavercreek	 	OH	 	45440	 		 	3,723
	287	 	Staten Island Mall	 	2655 Richmond Ave	 	Space 2165	 	Staten Island	 	NY	 	10314	 		 	3,918
	288	 	Annapolis Mall	 	1516 Annapolis Mall	 		 	Annapolis	 	MD	 	21401	 		 	4,134
	289	 	Bayshore Mall	 	5770 North Bayshore Drive	 	Space Q-112	 	Glendale	 	WI	 	53217	 		 	3,500
	290	 	Marketplace Mall	 	261 Miracle Mile Drive	 	Space A-10	 	Rochester	 	NY	 	14623	 		 	4,000
	291	 	The Avenue Carriage Crossing	 	4670 Merchants Park Circle	 	Suite 626	 	Collierville	 	TN	 	38017	 		 	4,000
	292	 	Palisades Center	 	2740 Palisades Center Drive	 	Space C201	 	West Nyack	 	NY	 	10994	 		 	4,251
	294	 	Circle Center	 	49 West Maryland St.	 	Space G15A	 	Indianapolis	 	IN	 	46204	 		 	3,925
	295	 	Holyoke Mall	 	50 Holyoke St.	 	Space H208	 	Holyoke	 	MA	 	01041	 		 	3,800
	296	 	Hanes Mall	 	3320 Silas Creek Parkway	 	Space 416	 	Winston-Salem	 	NC	 	27103	 		 	4,205

  
 56 

																	
	297	 	Sarasota Square	 	8201 South Tamiami Trail North	 	Space A-19	 	Sarasota	 	FL	 	34238	 		 	3,602
	298	 	Jordan Creek Town Center	 	101 Jordan Creek Parkway	 	Space 12565	 	West Des Moines	 	IA	 	50266	 		 	3,987
	299	 	The Avenues	 	10300 Southside Boulevard	 	Space 2125	 	Jacksonville	 	FL	 	32256	 		 	3,454
	301	 	Independence Center	 	2092 Independence Center	 	Space K04A	 	Independence	 	MO	 	64057	 		 	3,595
	303	 	Promenade @ Bolingbrook	 	627 East Boughton Road	 	Suite 105	 	Bolingbrook	 	IL	 	60440	 		 	4,214
	304	 	Shops @ Sunset Place	 	5701 Sunset Drive	 	Suite 126	 	South Miami	 	FL	 	33143	 		 	4,426
	305	 	Charleston Town Center	 	2015 Charleston Town Center	 	Space 2015	 	Charleston	 	WV	 	25312	 		 	4,121
	306	 	Chesterfield Mall	 	43’ Chesterfield Mall	 	Space 156	 	Chesterfield	 	MO	 	63017	 		 	3,756
	307	 	Polaris Fashion Place	 	1500 Polaris Parkway	 	Space 2178	 	Columbus	 	OH	 	43240	 		 	4,220
	309	 	Walden Galleria	 	1 Walden Galleria	 	Space TH102	 	Cheektowaga	 	NY	 	14225	 		 	3,913
	311	 	Coconut Point	 	23106 Fashion Drive	 	Space W13	 	Estero	 	FL	 	33928	 		 	3,603
	313	 	Zona Rosa	 	7101 NW 86th Terrace	 	Space A-107	 	Kansas City	 	MO	 	64153	 		 	3,787
	315	 	The Shops at Highland Village	 	1700 Cottonwood Creek	 	Suite 150	 	Highland Village	 	TX	 	75077	 		 	3,600
	316	 	Southlake 2	 	1975 Southlake Mall	 	Unit # DO-408	 	Merrillville	 	IN	 	46410	 		 	3,955
	318	 	The Shoppes at Buckland Hills	 	194 Buckland Hills Drive	 	Space 1150	 	Manchester	 	CT	 	06040	 		 	3,604
	319	 	The Avenue Murfreesboro	 	2615 Medical Center Parkway	 	Suite 1360	 	Murfreesboro	 	TN	 	37129	 		 	3,800
	320	 	Mall at Partridge Creek	 	17420 Hall Road	 	Space 147	 	Clinton Township	 	MI	 	48038	 		 	3,593
	321	 	Lakeline Mall	 	11200 Lakeline Mall Drive	 	Space C01	 	Cedar Park	 	TX	 	78613	 		 	4,100
	322	 	Emerald Square	 	999 S. Washington Street	 	Space 144	 	North Attleboro	 	MA	 	02760	 		 	3,817
	323	 	North Point	 	2112 North Point Circle	 		 	Alpharetta	 	GA	 	30022	 		 	3,736
	324	 	South Park Center	 	428 South Park Center	 		 	Strongsville	 	OH	 	44136	 		 	4,039
	325	 	The Mall in Columbia	 	10300 Little Patuxent Parkway	 	Space 2610	 	Columbia	 	MD	 	21044	 		 	3,421
	332	 	Beachwood Place	 	26300 Cedar Road	 	Space 2095	 	Beachwood	 	OH	 	44122	 		 	3,631
	335	 	Yorktown Center	 	205A Yorktown Mall	 		 	Lombard	 	IL	 	60148	 		 	3,961
	336	 	Burlington Mall	 	75 Middlesex Turnpike	 	Space 1025B	 	Burlington	 	MA	 	01803	 		 	4,066
	339	 	Galleria @ Roseville	 	1151 Galleria Blvd	 	Suite 2170	 	Roseville	 	CA	 	95678	 		 	4,069
	340	 	La Plaza Mall	 	2200 South 10th Street	 	Space F15A	 	McAllen	 	TX	 	78503	 		 	4,921
	341	 	Mall of Louisiana	 	6401 Bluebonnet Blvd	 	Space 1104	 	Baton Rouge	 	LA	 	70836	 		 	3,456
	342	 	Fox Valley Mall	 	2428 Fox Valley Center	 	Space B9A	 	Aurora	 	IL	 	60504	 		 	3,775
	343	 	The Mall at Rockingham	 	99 Rockingham Park Blvd	 	Space W245	 	Salem	 	NH	 	03079	 		 	3,397
	344	 	Northshore Mall	 	210 Andover Street	 	Space W108A	 	Peabody	 	MA	 	01960	 		 	3,901
	345	 	The Maine Mall	 	364 Maine Mall Road	 	Space S171	 	South Portland	 	ME	 	04106	 		 	3,733
	350	 	Smith Haven Mall	 	450 Smith Haven Mall	 	Space D03B	 	Lake Grove	 	NY	 	11755	 		 	4,086
	351	 	Livingston Mall	 	112 Eisenhower Parkway	 	Space 1021A	 	Livingston	 	NJ	 	07039	 		 	3,600
	352	 	Fox River Mall	 	4301 W. Wisconsin Ave	 	Space 511	 	Appleton	 	WI	 	54913	 		 	3,749
	353	 	West Town Mall	 	7600 Kingston Pike	 	Space 1098A	 	Knoxville	 	TN	 	37919	 		 	3,672
	354	 	South Shore Plaza	 	250 Granite Street	 	Space 2047A	 	Braintree	 	MA	 	02184	 		 	4,082
	356	 	Christiana Mall	 	150 Christiana Mall	 		 	Newark	 	DE	 	19702	 		 	3,978
	359	 	Garden State Plaza	 	1 Garden State	 	Space 1037	 	Paramus	 	NJ	 	07652	 		 	4,761
	362	 	Plaza Bonita	 	3030 Plaza Bonita Rd	 	Space 2082	 	National City	 	CA	 	91950	 		 	3,600
	363	 	RiverTown Crossing	 	3700 Rivertown Pkwy S.W.	 	Space 1144	 	Grandville	 	MI	 	49418	 		 	4,273
	364	 	Bangor Mall	 	663 Stillwater Avenue	 	Space 1097A	 	Bangor	 	ME	 	04401	 		 	3,844
	368	 	Peninsula Town Center	 	2561 McMenamin St	 		 	Hampton	 	VA	 	23666	 		 	3,500
	373	 	Rockaway Town Square	 	301 Mt. Hope Ave	 	Space 2093A	 	Rockaway	 	NJ	 	07866	 		 	3,422
	374	 	The Westchester	 	125 Westchester Ave	 	Suite 3060	 	White Plains	 	NY	 	10601	 		 	4,352
	375	 	Providence Place	 	127 Providence Place	 	Space 5080	 	Providence	 	RI	 	02903	 		 	3,730
	376	 	Hawthorn Center	 	122 Hawthorn Center	 	Space 304	 	Vernon Hills	 	IL	 	60061	 		 	5,047
	377	 	Fashion Outlets of Niagara	 	1734 Military Road	 	Space 28	 	Niagara Falls	 	NY	 	14304	 		 	2,862

  
 57 

 Delia’s 

Store List 
 Exhibit A-2

  

																			
	 Store No.
	 	 Store
	 	 Address
	 	 Address 2
	 	 City
	 	 State
	 	 Zip Code
	 	 	 Telephone No.
	 	 Square Ft

									
	DC	 	Distribution Center	 	348 Poplar St	 		 	Hanover	 	PA	 	 	17331	  	 		 	

  
 58 

 dELiA*s, Inc. 

Exhibit 3.1(b) 
 Retail

 Merchandise Threshold Schedule 
  

							
	Cost
Value	 	 	Adjustment
Points	 
		
	 	15,350,000	  	 	 	0.45	% 
	 	15,250,000	  	 	 	0.45	% 
	 	15,150,000	  	 	 	0.42	% 
	 	15,050,000	  	 	 	0.42	% 
	 	14,950,000	  	 	 	0.40	% 
	 	14,850,000	  	 	 	0.40	% 
	 	14,750,000	  	 	 	0.38	% 
	 	14,650,000	  	 	 	0.38	% 
	 	14,550,000	  	 	 	0.38	% 
	 	14,450,000	  	 	 	0.38	% 
	  
	  
	 	 	  
	  
	 
	 	14,350,000	  	 			
	 	13,950,000	  	 			
	  
	  
	 	 	  
	  
	 
	 	13,850,000	  	 	 	0.28	% 
	 	13,750,000	  	 	 	0.28	% 
	 	13,650,000	  	 	 	0.28	% 
	 	13,550,000	  	 	 	0.30	% 
	 	13,450,000	  	 	 	0.30	% 
	 	13,350,000	  	 	 	0.30	% 
	 	13,250,000	  	 	 	0.32	% 
	 	13,150,000	  	 	 	0.32	% 
	 	13,050,000	  	 	 	0.35	% 
	 	12,950,000	  	 	 	0.35	% 

  

Note(s): 
  

	1.	Adjustments between the increments shall be on a prorata basis. 

	2.	In the event that the Cost value of the Merchandise is greater than $15,350,000, each $100,000 (or pro rata portion thereof) increment shall decrease the Guaranty by 0.50%. 

	3.	In the event that the Cost value of the Merchandise is less than $12,950,000, each $100,000 (or pro rata portion thereof) increment shall decrease the Guaranty by 0.40%. 

  
 59 

 dELiA*s, Inc. 

Exhibit 3.1(b) 
 Direct

 Merchandise Threshold Schedule 
  

							
	Cost
Value	 	  	Adjustment
Points	 
		
	 	5,132,000	  	  	 	0.03	% 
	 	5,107,000	  	  	 	0.03	% 
	 	5,082,000	  	  	 	0.03	% 
	 	5,057,000	  	  	 	0.03	% 
	 	5,032,000	  	  	 	0.03	% 
	 	5,007,000	  	  	 	0.03	% 
	 	4,982,000	  	  	 	0.03	% 
	 	4,957,000	  	  	 	0.03	% 
	 	4,932,000	  	  	 	0.03	% 
	 	4,907,000	  	  	 	0.03	% 
	  
	  
	 	  	  
	  
	 
	 	4,882,000	  	  			
	 	4,782,000	  	  			
	  
	  
	 	  	  
	  
	 
	 	4,757,000	  	  	 	0.05	% 
	 	4,732,000	  	  	 	0.05	% 
	 	4,707,000	  	  	 	0.05	% 
	 	4,682,000	  	  	 	0.05	% 
	 	4,657,000	  	  	 	0.05	% 
	 	4,632,000	  	  	 	0.05	% 
	 	4,607,000	  	  	 	0.05	% 
	 	4,582,000	  	  	 	0.05	% 
	 	4,557,000	  	  	 	0.05	% 
	 	4,532,000	  	  	 	0.05	% 

  

Note(s): 
  

	1.	Adjustments between the increments shall be on a prorata basis. 

	2.	In the event that the Cost value of the Merchandise is greater than $5,132,000, each $25,000 (or pro rata portion thereof) increment shall decrease the Guaranty by 0.03%. 

	3.	In the event that the Cost value of the Merchandise is less than $4,532,000, each $25,000 (or pro rata portion thereof) increment shall decrease the Guaranty by 0.05%. 

  
 60 

 dELiA*s, Inc. 

Exhibit 3.1(c) 
 Retail

 Cost Factor 
  

							
	Cost
Factor	 	 	Adjustment
Points	 
		
	 	27.75	% 	 			
	  
	  
	 	 	  
	  
	 
	 	27.80	% 	 	 	0.32	% 
	 	27.85	% 	 	 	0.32	% 
	 	27.90	% 	 	 	0.32	% 
	 	27.95	% 	 	 	0.32	% 
	 	28.00	% 	 	 	0.32	% 
	 	28.05	% 	 	 	0.32	% 
	 	28.10	% 	 	 	0.32	% 
	 	28.15	% 	 	 	0.32	% 
	 	28.20	% 	 	 	0.32	% 
	 	28.25	% 	 	 	0.32	% 

  
 Notes:

  

	1.	Adjustments between the increments shall be on a prorata basis. 

	2.	In the event that the Cost Factor of Merchandise is greater than 28.25%, each 0.05% (or pro rata portion thereof) increment shall decrease the Guaranty by 0.35%. 

  
 61 

 dELiA*s, Inc. 

Exhibit 3.1(c) 
 Direct

 Cost Factor 
  

							
	Cost
Factor	 	 	Adjustment
Points	 
		
	 	34.70	% 	 			
	  
	  
	 	 	  
	  
	 
	 	34.75	% 	 	 	0.10	% 
	 	34.80	% 	 	 	0.10	% 
	 	34.85	% 	 	 	0.10	% 
	 	34.90	% 	 	 	0.10	% 
	 	34.95	% 	 	 	0.10	% 
	 	35.00	% 	 	 	0.10	% 
	 	35.05	% 	 	 	0.10	% 
	 	35.10	% 	 	 	0.10	% 
	 	35.15	% 	 	 	0.10	% 
	 	35.20	% 	 	 	0.10	% 

  
 Notes:

  

	1.	Adjustments between the increments shall be on a prorata basis. 

	2.	In the event that the Cost Factor of Merchandise is greater than 35.20%, each 0.05% (or pro rata portion thereof) increment shall decrease the Guaranty by 0.13%. 

  
 62 

 Exhibit 3.3(a) 

Merchant’s Designated Account 
 JPMorgan Chase
Bank 
 Funds Transfer Services 
 1 Chase Manhattan Plaza, 8th Floor 
 New York, NY 10005 
  

			
	ABA#	  	021000021
		
	Account #	  	958172090
		
	Re:	  	Delia’s Inc.

  
 63 

 EXHIBIT 3.3(h) 

Proposed Form of Letter of Credit 

  
 64 

 FORM OF AGENT LETTER OF CREDIT 

[NAME OF ISSUING BANK] 
 [ADDRESS]

 Date:             , 2014 

Irrevocable Standby Letter of Credit Number:              

 

			
	Co-Beneficiaries:	  	 dELiA*s, Inc.
 50 W 23rd Street – 10th
Floor
 New York, NY 10010
 Attn:    Ryan
Schreiber, Esq.
 SVP, General Counsel & Secretary

		
		  	 SALUS CAPITAL PARTNERS, LLC
 197 First Avenue,
Suite 250
 Needham Heights, MA 02494

Attn:    Kyle C. Shonak

 Credit No.:              

Opener’s Reference No.:              

 

			
	Gentlemen:	  	
		
	BY ORDER OF:	  	[Gordon Brothers Retail Partners, LLC][Hilco Merchant Resources, LLC]

 We hereby open in your favor our Irrevocable Standby Letter of Credit (the “Letter of Credit”) for the
account of: [Gordon Brothers Retail Partners, LLC][Hilco Merchant Resources, LLC] for a sum or sums not exceeding a total of                     
U.S. Dollars (                     ) available by your draft(s) at SIGHT on OURSELVES effective immediately and expiring at OUR COUNTERS on
            , 2014, or such earlier date on which the beneficiaries shall notify us in writing that this Letter of Credit shall be terminated accompanied by the original Letter of Credit
(the “Expiry Date”). 
 Draft(s) must be accompanied by the original Letter of Credit and a signed statement by either (a) an officer
of Salus Capital Partners, LLC, individually, in the form attached hereto as Exhibit A-1 or (b) an officer of both of the Co-Beneficiaries in the form attached hereto as Exhibit A-2. 

Partial and/or multiple drawings are permitted. 

  
 65 

 The Co-Beneficiaries may collectively, or Salus Capital Partners, LLC, individually, draw on the Letter of Credit
if Agent fails to pay any amounts due by Agent to the Co-Beneficiaries pursuant to, and as such terms are defined in, that certain Agency Agreement dated as of
                     among the Co-Beneficiaries and Agent. 

This Letter of Credit may be increased or reduced from time to time when accompanied by a signed statement from the Co-Beneficiaries in the form attached as
Exhibit B. 
 If a drawing is received by
[                    ] at or prior to 12:00 noon, Eastern Time, on a Business Day, and provided that such drawing conforms to the terms and
conditions hereof, payment of the drawing amount shall be made to the account designated by Salus Capital Partners, LLC, individually, as directly below, in immediately available funds on the same Business Day. If however, a drawing is received by
[                    ] after 12:00 noon, Eastern Time, on a Business Day, and provided that such drawing conforms to the terms and conditions hereof,
payment of the drawing amount shall be made to the account designated by Salus Capital Partners, LLC, individually, in immediately available funds on the next Business Day. 

As used in the Letter of Credit “Business Day” shall mean any day other than a Saturday, Sunday, or a day on which Banking Institutions in
Massachusetts are required or authorized to close. 
 Each draft must bear upon its face the clause “Drawn under Letter of Credit No.
            , dated      of [         ],          

Except so far as otherwise expressly stated herein, this Letter of Credit is subject to the “Uniform Customs and Practice for Documentary Credits (1993
Revision), International Chamber of Commerce Publication No. 600.” 
 We hereby agree that drafts drawn under and in compliance with the terms of
this Letter of Credit will be duly honored if presented to the above-mentioned drawee bank on or before the Expiry Date. 
 Kindly address all
correspondence regarding this Letter of Credit to the attention of our Letter of Credit Operations, [                     ],
                    , mentioning our reference number as it appears above. Telephone inquiries can be made to
                     at (        )
        -        . 
  

	
	Very truly yours,
	
	Authorized official

  
 66 

 TO IRREVOCABLE LETTER OF CREDIT NO.             

Re: Drawing for Amounts Due to Salus Capital Partners, LLC: 

Ladies and Gentlemen: 
 I refer to your
Letter of Credit No.              (the “Letter of Credit”). The undersigned duly authorized officer of Salus Capital Partners, LLC, in its capacity as a Co-Beneficiary of the
Letter of Credit hereby certify to you that: 
  

	 	(i)	Gordon Brothers Retail Partners, LLC and Hilco Merchant Resources, LLC (collectively, the “Agent”) have not made a payment when due of or for the Guaranteed Amount, Sharing Amount, Expenses, or other amounts
due by Agent to the Co-Beneficiaries pursuant to, and as such terms are defined in, that certain Agency Agreement dated as of December 4, 2014, between among the Co-Beneficiaries on the one hand, and Agent, on the other. 

 

	 	(ii)	The amount to be drawn is $         (the “Amount Owing”). 

  

	 	(iii)	Payment is hereby demanded in an amount equal to the lesser of (a) the Amount Owing and (b) the face amount of the Letter of Credit, less any prior drawings, as of the date hereof. 

 

	 	(iv)	The Letter of Credit has not expired prior to the delivery of this letter and the accompanying sight draft. 

  

	 	(v)	In accordance with the terms of the Letter of Credit, the payment hereby demanded is requested to be made by wire transfer to the following account: 

[Account] 
 IN WITNESS WHEREOF,
this instrument has been executed and delivered as of this      day of         , 2014. 
  

					
	Very truly yours,
	
	 Salus Capital Partners, LLC,
 A
Co-Beneficiary

		
	By:	 	  

		 	Duly Authorized Officer
		 	Print Name:                     

  
 67 

 EXHIBIT A-2 

TO IRREVOCABLE LETTER OF CREDIT NO.             

Re: Drawing for Amounts Due to Salus Capital Partners, LLC and dELiA*s, Inc.: 

Ladies and Gentlemen: 
 The undersigned
refer to your Letter of Credit No.              (the “Letter of Credit”). The undersigned duly authorized officers of Salus Capital Partners, LLC and dELiA*s, Inc., respectively,
in their capacity as Co-Beneficiaries of the Letter of Credit, hereby certify to you that: 
  

	 	(i)	Gordon Brothers Retail Partners, LLC and Hilco Merchant Resources, LLC (collectively, the “Agent”) have not made a payment when due of or for the Guaranteed Amount, Sharing Amount, Expenses, or other amounts
due by Agent to the Co-Beneficiaries pursuant to, and as such terms are defined in, that certain Agency Agreement dated as of December 4, 2014, 2014 among the Co-Beneficiaries on the one hand, and Agent, on the other. 

 

	 	(ii)	The amount to be drawn is $         (the “Amount Owing”). 

  

	 	(iii)	Payment is hereby demanded in an amount equal to the lesser of (a) the Amount Owing and (b) the face amount of the Letter of Credit, less any prior drawings, as of the date hereof. 

 

	 	(iv)	The Letter of Credit has not expired prior to the delivery of this letter and the accompanying sight draft. 

  

	 	(v)	In accordance with the terms of the Letter of Credit, the payment hereby demanded is requested to be made by wire transfer to the following account: 

[Account] 
 IN WITNESS WHEREOF,
this instrument has been executed and delivered as of this      day of         , 2014. 
  

			
	Very truly yours,
	
	Salus Capital Partners, LLC,
A Co-Beneficiary
		
	By:	 	  

		 	Duly Authorized Officer
		 	Print Name:                     

  
 68 

 
			
	 dELiA*s, Inc.,
 A
co-Beneficiary

		
	By:	 	  

		 	Duly Authorized Officer
		 	Print Name:                     

  
 69 

 EXHIBIT B 

TO IRREVOCABLE STANDBY LETTER OF CREDIT NO.              

Re: Reduction of Face Amount: 
 Ladies and Gentlemen: 

The undersigned refer to your Letter of Credit No. (the “Letter of Credit”). The undersigned, as Co-Beneficiaries of the Letter of
Credit, hereby confirm to you that the face amount of the Letter of Credit hereby shall be reduced from its present face amount to a new face amount of $        . 

IN WITNESS WHEREOF, this instrument has been executed and delivered as of this      day of
        , 2014. 
  

			
	Very truly yours,
	
	 dELiA*s, Inc.,
 A
co-Beneficiary

		
	By:	 	  

		 	Duly Authorized Officer
		 	Print Name:                     
	
	 Salus Capital Partners, LLC,
 A
co-Beneficiary

		
	By:	 	  

		 	Duly Authorized Officer
		 	Print Name:                     

  
 70 

 Exhibit 4.1(a) Store Occupancy Expense Schedule 

[Intentionally omitted due to illegible copy] 

  
 71 

 dELiA*s AGENCY AGREEMENT 

EXHIBIT 5.1(a) 

INVENTORY TAKING INSTRUCTIONS 

[TO BE AGREED UPON BY MERCHANT, AGENT AND LENDER] 

  
 72 

 Exhibit 5.2(b)(1) 

File of Distribution Center Merchandise in Data Room 

5.2(b)(1) Distribution Center Merchandise 

  
 73 

 Exhibit 5.2(b)(2) 

File of Direct Business Merchandise in Data Room 

5.2(b)(2) Direct Business Merchandise 

  
 74 

 Exhibit 5.3(a)(1) – Cost File for Store Merchandise and Distribution Center Merchandise 

11.29 319-320-321-322-323.xlsx 
 11.29 353-354-356-359-362.xlsx

 11.29 375-376-377.xlsx 
 11.29 339-340-341-342-343.xlsx

 11.29 291-292-294-296-297.xlsx 
 11.29
281-282-283-284-285-286-287-288-289-290.xlsx 
 11.29 304-305-306-307-309-311-313-316-318.xlsx 

11.29 270-271-273-274-275-276-277-278-279-280.xlsx 
 11.29
002-202-207-210-215-216-219-229-233-241.xlsx 
 11.29 295-315.xlsx 

11.29 242-250-251-256-257-260-265-267-268-269.xlsx 

  
 75 

 EXHIBIT 5.3(a)(2) Cost File for Direct Business Merchandise 

Direct Aged Inv 11.29.14.xlsx 

  
 76 

 EXHIBIT 8.1 

SALE GUIDELINES 

  
 77 

 dELiA*s, INC. SALE GUIDELINES 

A. The Sale shall be conducted so that the Stores in which sales are to occur will remain open no longer than during the normal hours of operation provided
for in the respective leases for the Stores. 
 B. The Sale shall be conducted in accordance with applicable state and local “Blue Laws”, where
applicable, so that no Sale shall be conducted on Sunday unless the Merchant had been operating such Store on a Sunday. 
 C. On “shopping center”
property, the Agent shall not distribute handbills, leaflets or other written materials to customers outside of any Store’s premises, unless permitted by the lease or, if distribution is customary in the “shopping center” in which
such Store is located; provided that Agent may solicit customers in the Stores themselves. On “shopping center” property, the Agent shall not use any flashing lights or amplified sound to advertise the Sale or solicit customers, except as
permitted under the applicable lease or agreed to by the landlord. 
 D. At the conclusion of the Sale, the Agent shall vacate the Stores in broom clean
condition, and shall leave the Locations in the same condition as on Sale Commencement Date, ordinary wear and tear excepted, in accordance with Section 6 of the Agency Agreement, provided, however, that the Merchant and the Agent
hereby do not undertake any greater obligation than as set forth in an applicable lease with respect to a Store. The Agent and Merchant may abandon any FF&E not sold in the Sale at the Stores at the conclusion of the Sale. Any abandoned FF&E
left in a Store after a lease is rejected shall be deemed abandoned to the landlord having a right to dispose of the same as the landlord chooses without any liability whatsoever on the part of the landlord to any party and without waiver of any
damage claims against the Merchant. For the avoidance of doubt, as of the Sale Termination Date, the Agent may abandon, in place and without further responsibility, any FF&E located at a Store. 

E. During the Interim Sale Period, Agent may advertise the sale as a “sale on everything”, “everything must go”, or similar themed sale.
Following, and subject to, the entry of the Interim Approval Order and the Approval Order, the Agent may advertise the sale as a “store closing” and/or “going-out-of-business” sale, as dictated by the respective Interim Approval
Order and Approval Order. 
 F. Agent shall be permitted to utilize display, hanging signs, and interior banners in connection with the Sale;
provided, however, that such display, hanging signs, and interior banners shall be professionally produced and hung in a professional manner. The Merchant and the Agent shall not use neon or day-glo on its display, hanging signs, or
interior banners. Furthermore, with respect to enclosed mall locations, no exterior signs or signs in common areas of a mall shall be used unless otherwise expressly permitted in these Sale Guidelines. In addition, the Merchant and the Agent shall
be permitted to utilize exterior banners at (i) non-enclosed mall Stores and (ii) enclosed mall Stores to the extent the entrance to the applicable Store does not require entry into the enclosed mall common area; provided,
however, that such banners shall be located or hung so as to make clear that the Sale is being conducted only at the affected Store, shall not be wider than the storefront of the Store, and shall not be larger than 4 feet x 40 feet. In
addition, the Merchant and the Agent shall be permitted to utilize sign walkers in a safe and professional manner and in accordance with the terms of the Approval Order. Nothing contained in these Sale Guidelines shall be construed to create or
impose upon the Agent any additional restrictions not contained in the applicable lease agreement. 

  
 78 

 F. Conspicuous signs shall be posted in the cash register areas of each of the affected Stores to effect that
“all sales are final.” 
 G. Except with respect to the hanging of exterior banners, the Agent shall not make any alterations to the storefront or
exterior walls of any Stores. 
 H. The Agent shall not make any alterations to interior or exterior Store lighting. No property of the landlord of a Store
shall be removed or sold during the Sale. The hanging of exterior banners or in-Store signage and banners shall not constitute an alteration to a Store. 

I. The Agent shall keep Store premises and surrounding areas clear and orderly consistent with present practices. 

J. Subject to the provisions of the Agency Agreement the Agent shall have the right to sell all furniture, fixtures, and equipment located at the Stores and
Distribution Center(s) (the “FF&E”). The Agent may advertise the sale of the FF&E in a manner consistent with these guidelines at the Stores and Distribution Center(s). The purchasers of any FF&E sold during the sale
shall be permitted to remove the FF&E either through the back shipping areas at any time, or through other areas after Store business hours. For the avoidance of doubt, as of the Sale Termination Date, the Agent may abandon, in place and without
further responsibility, any FF&E. 
 K. The Agent shall be entitled to include Additional Agent Goods in the Sale in accordance with the terms of the
Approval Order and the Agency Agreement. 
 L. At the conclusion of the Sale at each Store, pending assumption or rejection of applicable leases, the
landlords of the Stores shall have reasonable access to the Store’s premises as set forth in the applicable leases. The Merchant, the Agent and their agents and representatives shall continue to have exclusive and unfettered access to the
Stores. 
 M. Post-petition rents shall be paid by the Merchant as required by the Bankruptcy Code until the rejection or assumption and assignment of each
lease. Other than Agent’s obligations under Section 4.1 of the Agency Agreement with respect to payment of Expenses, Agent shall have no responsibility therefor. 

N. The rights of landlords against Merchant for any damages to a Store shall be reserved in accordance with the provisions of the applicable lease. 

O. If and to the extent that the landlord of any Store affected hereby contends that the Agent or Merchant is in breach of or default under these Sale
Guidelines, such landlord shall email or deliver written notice by overnight delivery on the Merchant’s counsel and the Agent’s counsel as follows: 
  

					
		 	If to Agent:
		
		 	Goulston & Storrs PC
		 	400 Atlantic Avenue
		 	Boston, MA 02110-3333
		 	Attn:	  	James F. Wallack, Esq.
		 		  	Gregory O. Kaden, Esq.
		 	Tel:	  	617.482.1776
		 	Email:	  	 jwallack@goulstonstorrs.com

gkaden@goulstonstorrs.com

  
 79 

					
		
		 	If to Merchant:
		
		 	Delia*s, Inc.
		 	50 W 23rd Street – 10th Floor
		 	New York, NY 10010
		 	Attn:	  	Ryan Schreiber, Esq.
		 		  	SVP, General Counsel & Secretary
		 	Tel:	  	212.590-6204
		 	Email:	  	rschreiber@deliasinc.com
		
		 	With a copy to (which shall not constitute notice):
		
		 	DLA Piper
		 	1251 Avenue of the Americas
		 	New York, New York 10020-1104
		 	Attn:	  	Gregg M. Galardi, Esq.
		 	Tel:	  	212.335.4640
		 	Email:	  	Gregg.Galardi@dlapiper.com

  
 80 

 dELiA*s AGENCY AGREEMENT 

EXHIBIT 10.1(c) 
 FORM
OF APPROVAL ORDER 
 [TO BE AGREED UPON BY MERCHANT, AGENT AND LENDER] 

  
 81 

 Exhibit 11.1(d) 

Purported Existing Liens1 

 

			
	 NAME
	  	 DESCRIPTION2

	Eklecco Newco LLC	  	Pursuant to the Standard Shopping Center Lease, dated February 13, 2006, a first lien on all Merchandise and Owned FF&E in Store 292.
		
	Holyoke Mall Company, L.P.	  	Pursuant to the Standard Shopping Center Lease, dated February 14, 2006, a first lien on all Merchandise and Owned FF&E in Store 295.
		
	Pyramid Walden Company, L.P., successor in interest to Pyramid Company of Buffalo	  	Pursuant to the Standard Shopping Center Lease, dated February 6, 2002, a first lien on all Merchandise and Owned FF&E in Store 309.
		
	Salus Capital Partners LLC	  	Pursuant to the prepetition Credit Agreement, dated June 14, 2013, a first lien on substantially all of the assets with the exception of the Merchandise and Owned FF&E in Stores 292, 295 and 309, which Salus Capital Partners LLC
holds a second lien.

  

	1 	The following list of purported existing lienholders are subject to continuing review by the Merchant based on UCC filings and its books and records. 

	2 	The Merchant makes no admission as to the validity, perfection or priority of any lien purported to be granted or perfected with respect to the assets described herein. 

  
 82 

 Exhibit 11.1(k) 

Promotional Calendar – November, 2014 
  

							
	 Q4
	  	 	  	 DEPT
	  	 2014

	NOVEMBER	  	WK 1	  	TOPS	  	BOGO Free Graphics, $25 Sweaters, 2 Fors
				
		  		  	RTW	  	BOGO 50% Denim/Pants, 30% off O/W & denim Jkts,
				
		  		  	N/A	  	BOGO Free Jewelry/Hair
				
		  		  	TOTAL	  	$8/$15 Rounders - Markdowns 50% off
		  	Wk 2	  	TOPS	  	BOGO 50% Graphics, $25 Sweaters, 2 Fors
				
		  		  	RTW	  	BOGO Free Denim/Pants, 30% O/W, 40% Select Dresses
				
		  		  	N/A	  	BOGO Free Jewlery, BOGO 50% Scarves, $5 Baggus
				
		  		  	TOTAL	  	$8/$15 Rounders - Markdowns 50% off
		  	Wk 3	  	TOPS	  	BOGO 50 Graphics, $16.9 Brushed, Select sweaters at $25, 30% outerwear, 2 fors
				
		  		  	RTW	  	BOGO Free denim, BOGO Free Dresses
				
		  		  	N/A	  	Non Apparel Jewelry and Scarves BOGO 50
				
		  		  	TOTAL	  	$8/$15 Rounders, 50% MDs
		  	Wk 4	  	TOPS	  	Graphic Tee Black Friday deals $15 plus entire store discount
				
		  		  	RTW	  	Woven Top Black Friday deal $20 plus entire store discount
				
		  		  	N/A	  	Pricepointed Black Friday deals excluded from entire store discount
				
		  		  	TOTAL	  	Wed - 40% off entire store, Thurs/Fri - 50% off entire store, Sat - 40% off entire store

  
 83 

 dELiA*s AGENCY AGREEMENT 

EXHIBIT 11.1(I) 
 LIST
OF PENDING MATTERS 
 [BELIEVED TO BE NONE, BUT TO BE CONFIRMED BY MERCHANT] 

  
 84 

 dELiA*s AGENCY AGREEMENT 

EXHIBIT 11.1(o) 

EXTRORDINARY POS ACTIVITY 

[BELIEVED TO BE NONE, BUT TO BE CONFIRMED BY MERCHANT] 

  
 85 

 dELiA*s AGENCY AGREEMENT 

EXHIBIT 11.1(q) 
 LIST
OF STORES WITH LEASE EXPIRATION/TERMINATION DATES DURING THE SALE TERM 
 [TO BE FINALIZED BY MERCHANT, AGENT AND LENDER] 

  
 86 

 Exhibit 11.1(u) 

Promotions/Discounts Calendar 
 Delia’s 2014

  

					
	 	  	 	  	 Email Offer Direct - 2014

	Fri	  	12/5/2014	  	40% Off Full Price Styles (exclude Branded Styles) + 50% Off Clearance Styles + FS $75
	Sat	  	12/6/2014	  	40% Off Everything (exclude Branded Styles) + FS $75
		  	December Week 1
	Sun	  	12/7/2014	  	 Email #1: 40% Off Everything (exclude Branded Styles) + FS No Min

VIP Email #1: Spend $100 After 40% Off Discount, Get Free Muk Luks (Style #316274)

	Mon	  	12/8/2014	  	 Email #1: 40% Off Everything (exclude Branded Styles) + FS No Min

VIP Email #1: Spend $100 After 40% Off Discount, Get Free Muk Luks (Style #316274)

	Tue	  	12/9/2014	  	40% Off Everything (exclude Branded Styles) + FS No Min
	Wed	  	12/10/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Thu	  	12/11/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Fri	  	12/12/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Sat	  	12/13/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
		  	December Week 2
	Sun	  	12/14/2014	  	 Email #1: 50% Off Everything (exclude Branded Styles) + FS $75

VIP Email #1: TBD

	Mon	  	12/15/2014	  	 Email #1: 50% Off Everything (exclude Branded Styles) + FS $75

VIP Email #1: TBD

	Tue	  	12/16/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Wed	  	12/17/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Thu	  	12/18/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Fri	  	12/19/2014	  	50% Off Everything (exclude Branded Styles) + FS $75
	Sat	  	12/20/2014	  	50% Off Everything (exclude Branded Styles) + FS $75 + Shipping Cutoff?
		  	December Week 3
	Sun	  	12/21/2014	  	 Email #1: 50% Off Everything (exclude Branded Styles) + FS $75

VIP Email #1: TBD

	Mon	  	12/22/2014	  	 Email #1: 50% Off Everything (exclude Branded Styles) + FS $75

VIP Email #1: TBD

	Tue	  	12/23/2014	  	50% Off Everything (exclude Branded Styles) + FS $75 + Order by 1PM (via upgraded shipping)
	Wed	  	12/24/2014	  	50% Off Everything
	Thu	  	12/25/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Fri	  	12/26/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Sat	  	12/27/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
		  	December Week 4
	Sun	  	12/28/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Mon	  	12/29/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Tue	  	12/30/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Wed	  	12/31/2014	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Thu	  	1/1/2015	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Fri	  	1/2/2015	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
	Sat	  	1/3/2015	  	BOGO Free Jeans and Graphic Tees + BOGO 50% Off Tops + Extra 40% Off Clearance
		  	December Week 5

  
 87 

 11.1(u) Continued 
  

							
	 Store Promotion Calendar
  

	 	  	 	  	 DEPT
	  	 2014

	DECEMBER	  	WK 1	  	TOPS	  	Sunday - 40% off entire store, Cyber Monday - 50% off entire store
		  		  		  	Excluding Sun/Monday - BOGO 50% TOPS, BOGO free Graphics
		  		  	RTW	  	Sunday - 40% off entire store, Cyber Monday - 50% off entire store
		  		  		  	Excluding Sun/Monday - BOGO 50% TOPS, BOGO free Graphics
		  		  	N/A	  	Sunday - 40% off entire store, Cyber Monday - 50% off entire store
		  		  		  	Excluding Sun/Monday - BOGO 50% TOPS, BOGO free Graphics
		  		  	TOTAL	  	Sunday - 40% off entire store, Cyber Monday - 50% off entire store
		  	Wk 2	  	TOPS	  	
				
		  		  	RTW	  	
				
		  		  	N/A	  	
				
		  		  	TOTAL	  	50% off Entire Store
		  	Wk 3	  	TOPS	  	
				
		  		  	RTW	  	
				
		  		  	N/A	  	
				
		  		  	TOTAL	  	50% off Entire Store
		  	Wk 4	  	TOPS	  	BOGO 50% FP graphics
				
		  		  	RTW	  	BOGO free Denim,
				
		  		  	N/A	  	BOGO Free jewlery, hair & socks, BOGO free MDS
				
		  		  	TOTAL	  	All Graphic MDS $5
		  	Wk 5	  	TOPS	  	BOGO 50% FP graphics, 2 Fors
				
		  		  	RTW	  	BOGO free Denim,
				
		  		  	N/A	  	BOGO Free jewlery, hair & socks, BOGO free MDS
				
		  		  	TOTAL	  	$5 Graphic Mds, $10 L/S, $15 Sweaters
				
	 	  	 	  	 DEPT
	  	 2015

	JANUARY	  	WK 1	  	TOPS	  	BOGO 50% FP graphics, 2 Fors, Pricepoints
				
		  		  	RTW	  	BOGO 50% Denim
				
		  		  	N/A	  	BOGO Free jewlery, hair & socks, $1 MD Jewelry, Cold weather 50%
				
		  		  	TOTAL	  	30% off MDS
		  	Wk 2	  	TOPS	  	BOGO 50% FP graphics, 2 Fors, Pricepoints
				
		  		  	RTW	  	BOGO 50% Denim

  
 88

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]