Document:

Exhibit
10.1

Candela
Corporation

Amended
and Restated Employment Agreement dated as of April 5, 2007, between Candela
Corporation

and Gerard E. Puorro

AGREEMENT
made as of the 5th day of
April, 2007, by and between Candela Corporation, a Delaware corporation (the “Company”),
and Gerard E. Puorro (“Puorro” or the “Employee”).

WHEREAS,
the Company desires to employ Puorro and Puorro desires to be employed by the
Company on the terms and conditions contained herein;

WHEREAS,
the Company and the Employee originally executed prior versions of this
Agreement on August 4, 1994 and March 10, 1999, which agreement is presently in
full force and effect, and the parties wish and hereby intend to rescind the
August 4, 1994 Agreement and the March 10, 1999 Agreement and replace them
with the terms and provisions of this Agreement;

NOW,
THEREFORE, in consideration of the mutual covenants and obligations herein
contained, it is mutually agreed between the parties hereto as follows:

1.  Employment and Term.  The Company hereby agrees to continue to
employ the Employee and the Employee hereby agrees to serve as President and
Chief Executive Officer of the Company. 
Both the Employee and the Company shall have the right to terminate the
Employee’s employment at any time upon notice to the other party as provided in
Paragraph 3 hereof subject to the Company’s obligation to pay termination
benefits under certain circumstances as provided in Paragraphs 3.E and 3.F.

2.  Compensation.

A.            Salary.  In consideration of all of the services to be
rendered by the Employee to the Company, the Company will pay the Employee a
base salary at the rate per annum approved by the Compensation Committee or the
full Board of Directors from time to time. 
Such salary shall be payable in conformity with the Company’s prevailing
compensation practices, as such practices shall be established or modified from
time to time.

B.            Benefits.  The Employee will be entitled to continue to
participate on the same basis with all other employees of the Company in the
Company’s standard benefit package generally available to all other employees
of the Company, including the Company’s group health, disability, vacation
accrual and life insurance programs except that the Employee shall have the
right to participate in two or more life insurance programs, including the
Officer Life Insurance program referenced in Section 2(D) and one other
existing policy issued by Axa Equitable.

C.            Company
Car.  The Employee will be entitled to
the use of a company car, leased by the Company, in a price range approved by
the Compensation Committee from time to time.

D.            Life
Insurance.  The Employee will be entitled
to continue to participate in the Company’s Officer (Reverse Split Dollar) Life
Insurance Program (“Officer Life Program”) with a death benefit of $1,000,000,
provided that the Employee shall be responsible for the payment of any premiums
thereon which practice was formerly put in place.

3.  Termination and Severance.  The
Employee’s employment may be terminated as follows:

A.            At the Employee’s Option. 
Subject to the Company’s right to terminate the Employee pursuant to
Paragraphs 3.B, 3.C and 3.D below, the Employee may terminate his employment
hereunder for any reason at any time upon at least sixty (60) days’ prior
written notice.  In the event the
Employee terminates his employment pursuant to this Paragraph 3.A, either the
Employee or the Company can elect, prior to the expiration of the sixty (60)
day notice period provided above, that the Employee receive severance payments
pursuant to Paragraph 3.E hereof, which election by either party will also
cause the provisions of Paragraph 4 hereof to become operable.  If no such election is made, the Employee
shall not be entitled to any severance payments pursuant to Paragraph 3.E hereof.

B.            Upon
Disability of Employee.  If the Employee
becomes disabled for such period of time and under circumstances which entitle
him to receive disability benefits under the terms of any disability policy now
maintained or to be 

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purchased for the Employee by the Company, then the
Board of Directors of the Company, in its discretion, may elect to terminate
the Employee’s employment by reason of such disability.  In the event of such termination the Employee
shall be entitled to severance payments pursuant to Paragraph 3.E hereof, less
the “before income tax” value of disability benefits received under said
disability policy.

C.            At
the Election of the Company for Just Cause. 
Notwithstanding Paragraph 3.A, the Company may, immediately and
unilaterally, terminate the Employee’s employment for just cause at any time
during the term of this Agreement by notice to the Employee.  Termination of the Employee’s employment by
the Company shall constitute a termination for just cause if such termination
is for one or more of the following reasons: 
(i) Employee’s conviction in a court of law of any felony, which
conviction makes him unfit for continuing employment, prevents him from
effective management of the Company or materially adversely affects the
reputation or business activities of the Company; (ii) the commission by the
Employee of any act of fraud or embezzlement, or the misappropriation by the
Employee of any money or other assets or property (tangible or intangible) of
the Company; or (iii) dishonesty or willful misconduct which adversely affects
the reputation or business activities of the Company, or misappropriation of
funds.  In the event that the Company
exercises its right to terminate the Employee’s employment under this Paragraph
3.C, the Employee shall not be entitled to receive any severance or other
termination benefits, but the Employee shall be subject to the provisions of
Section 4 as if he were receiving severance under Paragraph 3.D below.

D.            At
the Election of the Company for Reasons Other than Just Cause.  Notwithstanding Paragraph 3.A, the Company
may, immediately and unilaterally, terminate the Employee’s employment at any
time without cause by giving written notice to the Employee of the Company’s
election so to terminate.  In the event
that the Company exercises its right to terminate under this Paragraph 3.D, the
Employee shall be entitled to receive severance payments and benefits from the
Company as determined in accordance with Paragraphs 3.E and 3.F, respectively,
below.

E.             Severance
Payments.  In the event that the Employee’s
employment with the Company is terminated either (i) at the Employee’s option
and either the Employee or the Company elects for the Employee to receive
severance payments pursuant to paragraph 3.A, or (ii) at the Company’s option
pursuant to paragraph 3.D, the Employee shall be entitled to receive severance
payments from the Company during the period beginning on the date of
termination and ending two (2) years from the date of termination (the “Severance
Period”).  During the first year of the
Severance Period, severance payments shall be equal to the Employee’s monthly
salary as of the date of termination. 
During the second year of the Severance Period, severance payments shall
be equal to fifty percent (50%) of the Employee’s monthly salary as of the date
of termination; provided, however, that if the Board of Directors of the
Company has voted to elect an individual to serve as President and Chief
Executive Officer of the Company immediately succeeding the Employee’s
performance of duties as President and CEO, and such designation of successor
is made prior to the Employee’s date of termination and cessation of service as
CEO, then in such event, during the second year of the Severance Period,
severance payments shall be equal to the employee’s monthly salary as of the
date of termination. All severance payments shall be made in accordance with
the Company’s then current payroll practices and will be subject to all
applicable federal, local and state withholding, payroll and other taxes.

F.             Benefits
Continuation.  The Employee’s eligibility
for participation in the Company’s health plan or plans terminates as of the
Termination Date and the parties agree that the Termination Date shall constitute
the “qualifying event” under the Consolidated Omnibus Budget Reconciliation Act
of 1985 (“COBRA”).  However, the Employee
may elect in accordance with COBRA to continue coverage under the Company’s
health plans which are available to active employees of the Company.  If the Employee’s employment is terminated at
the Company’s election pursuant to Paragraph 3.D, then in the event Employee
elects continuation of coverage under COBRA, the Company shall, during the
Severance Period, pay 100% of the premium payments for health insurance
coverage, and after the expiration of the Severance Period health insurance
coverage shall be continued only to the extent required by COBRA and only to
the extent that Employee timely pays the premium payments for such continuation
of health insurance coverage.

G.            Suspension
of Payments and Benefits.  The Company
may, in its discretion, suspend any or all of the foregoing severance payments
and benefits in the event Employee materially breaches the provisions of this
Agreement or the provisions of the Invention Disclosure and Confidentiality
Agreement described in Section 5 hereof.

4.  Non-Competition and
Non-Solicitation.

A.            Non-Competition.  During the term of Employee’s employment with
the Company and until the expiration of the Severance Period, if any, (the “Non-Compete
Period”), the Employee will not, without the Company’s prior written consent, 

 2
 

alone or as a partner, joint venturer, officer,
director, employee, consultant, agent, independent contractor or stockholder of
any company or business, engage in any business activity which is or plans to
be in competition in the United States with any of the products or services
marketed, distributed, sold or otherwise provided by the Company at such time.  The ownership by the Employee of not more
than one percent of the shares of stock of any corporation having a class of
equity securities actively traded on a national securities exchange or on
NASDAQ shall not be deemed, in and of itself, to violate the prohibitions of
this paragraph.

B.            Non-Solicitation.
During the Non-Compete Period, the Employee will not, directly or indirectly,
employ any person who is employed by the Company at any time during the term
hereof, or in any manner seek to induce any such person to leave his or her
employment with the Company.  In
addition, the Employee will not knowingly permit any company or business
organization in which the Employee is an officer of director or which is directly
or indirectly controlled by the Employee, to employ or in any manner seek to
induce any such person to leave his or her employment with the Company.

C.            Irreparable
Harm.  The Employee agrees that the
breach of this provision by the Employee will cause irreparable damage to the
Company and that in the event of such breach the Company shall have, in
addition to any and all remedies of law, the right to an injunction, specific
performance or other equitable relief to prevent the violation of the Employee’s
obligations hereunder.

D.            Survival.  The Employee hereby agrees and understands
that the Employee’s obligations under this Agreement shall survive the
termination of the Employee’s employment regardless of the manner of such
termination and shall be binding upon the Employee’s heirs, executors,
administrators and legal representatives.

5.  Invention Disclosure and
Confidentiality Agreement. The Employee acknowledges that he entered into the
Invention Disclosure and Confidentiality Agreement in the form attached hereto
as Appendix A effective as of April 10, 1989, and that such Agreement is
binding upon him and remains in full force and effect.

6.  General Provisions.  This Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts.
This Agreement and the Invention Disclosure and Confidentiality Agreement
constitute the entire agreement between the parties concerning the subject
matter hereof and supersede any prior negotiations, understandings or
agreements concerning the subject matter hereof and thereof, whether oral or
written, including the Agreements between the Employee and the Company dated
April 10, 1989, August 4, 1994, the letter agreement between the Employee and
the Company dated September 12, 1996, and March 10, 1999.  This Agreement may be modified, and the
rights and remedies of any provision hereof may be waived, only in writing,
signed by both the Company and the Employee. The invalidity or unenforceability
of any provision of this Agreement shall not affect the other provisions of this
Agreement but this Agreement shall be construed and reformed to the fullest
extent possible.  If one or more of the
provisions contained in this Agreement shall for any reason be held to be
excessively broad as to scope, activity, subject or otherwise so as to be
unenforceable at law, such provision shall be construed by the appropriate
judicial body by limiting or reducing it or them, so as to be enforceable to
the maximum extent compatible with applicable law as it shall then appear.  The language of all parts of this Agreement
shall in all cases be construed as a whole according to its fair meaning and
not strictly for or against either of the parties.  Nothing in this Agreement shall be construed
as a contract of employment for a specific term or create any obligation on the
part of the Company or any other person or entity to continue Employee’s
employment with the Company. Employee may not assign any of his rights and
obligations under this Agreement except by will or by the laws of descent and
distribution; the rights and obligations of the Company under this Agreement
shall inure to the benefit of, and shall be binding upon, the successors and
assigns of the Company.  This Agreement
may be executed in any number of counterparts, all of which taken together
shall constitute one and the same instrument.

 3EXHIBIT 4.21

Debenture

Secs 1 (09/06)

THIS IS
AN IMPORTANT DOCUMENT. YOU SHOULD TAKE INDEPENDENT LEGAL ADVICE BEFORE SIGNING
AND SIGN ONLY IF YOU WANT TO BE LEGALLY BOUND. IF YOU SIGN AND THE BANK IS NOT
PAID YOU MAY LOSE THE ASSET(S) CHARGED

	
  Date:

  	
   

  	
  March 19, 2007

  
	
   

  	
   

  	
   

  
	
  Definitions

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Bank:

  	
   

  	
  National Westminster Bank Plc

  
	
   

  	
   

  	
   

  
	
  Company:

  	
   

  	
  Russ Berrie (UK) Limited Company No: 01459528

  
	
   

  	
   

  	
   

  
	
  Company’s Obligations:

  	
   

  	
  All the Company’s liabilities to the Bank of any
  kind and in any currency (whether present or future actual or contingent and
  whether incurred alone or jointly with another) together with the Bank’s
  charges and commission Interest and Expenses

  
	
   

  	
   

  	
   

  
	
  Expenses:

  	
   

  	
  All expenses (on a full indemnity basis) incurred by
  the Bank or any Receiver at any time in connection with the Property or the
  Company’s Obligations or in taking or perfecting this deed or in preserving
  defending or enforcing the security created by this deed or in exercising any
  power under this deed or otherwise with Interest from the date they are
  incurred

  
	
   

  	
   

  	
   

  
	
  Interest:

  	
   

  	
  Interest at the rate(s) charged to the Company by
  the Bank from time to time

  
	
   

  	
   

  	
   

  
	
  Property:

  	
   

  	
  The whole and any part of the undertaking property
  and assets of the Company charged by Clause 1

  
	
   

  	
   

  	
   

  
	
  Required Currency:

  	
   

  	
  The currency or currencies in which the Company’s
  Obligations are expressed from time to time

  

Charge

1                                          The Company covenants to discharge on demand the Company’s
Obligations and as a continuing security for such discharge and with full title
guarantee charges to the Bank:-

1.1                                 By way of legal mortgage all the freehold and leasehold
property now vested in or charged to the Company

1.2                                 By way of fixed charge all estates or interests in any
freehold and leasehold property now and in the future vested in or charged to
the Company except the property charged by Clause 1.1

1.3                                 By way of fixed charge all fixtures and fittings from time
to time attached to any freehold and leasehold property of the Company

1.4                                 By way of fixed charge all plant and machinery of the
Company present and future and all associated warranties and maintenance
contracts

1.5                                 By way of fixed charge all rents receivable from any lease
granted out of any freehold and leasehold property of the Company

1.6                                 By way of fixed charge all the goodwill of the Company
present and future

1.7                                 By way of fixed charge all the uncalled capital of the
Company present and future

1.8                                 By way of fixed charge all stocks shares and other
securities held by the Company from time to time in any subsidiary and all
income and rights derived from or attaching to the same

1.9                                 By way of fixed charge all Intellectual Property Rights
choses in action licences and claims of the Company present and future and the
insurance policies and proceeds of any insurance from time to time affecting
the Property. “Intellectual Property Rights” include (without limitation) all
rights in patents 

inventions copyrights design rights trademarks service
marks database rights confidential information know-how domain names and
business names

1.10                           By way of fixed charge the benefit of any currency or
interest rate swap cap or collar or other hedging agreement or any futures
transaction or treasury instrument made with the Bank or any third party

1.11                           By way of floating charge all the undertaking and all
property assets and rights of the Company present and future not subject to a
fixed charge under this deed or any other security present or future held by
the Bank

Restrictions

2.1                                 The Company will not without the previous written consent of
the Bank:-

2.1.1                        Create or permit to arise any mortgage charge or lien on the
Property

2.1.2                        Dispose of the Property charged by Clauses 1.1 to 1.10
inclusive

2.1.3                        Accept payment in advance of a call for or call up any
uncalled capital

2.1.4                        Deal with the Company’s book debts and other debts otherwise
than by collecting them in the ordinary course of the Company’s business and in
particular the Company will not realise its book debts and other debts by means
of block discounting factoring or the like

2.1.5                        Dispose of the Property charged by Clause 1.11 other than in
the ordinary course of business

2.1.6                        Grant or accept a surrender of any lease or licence of or
part with or share possession or occupation of its freehold and leasehold
property or any part of it

2.2                                 If the Bank does consent to the creation of a mortgage or
charge on the Property it may require a priority agreement or deed with the
mortgagee or chargee.

Insurance

3.1                                 The Company will keep comprehensively insured to the Bank’s
reasonable satisfaction all of the Property which is of an insurable nature for
its full reinstatement cost and in default the Bank may enter and effect such
insurance (without becoming liable to account as mortgagee in possession)

3.2                                 The Company will hold in trust for the Bank all money
received under any insurance of the Property and at the Bank’s option will
apply the same in making good the relevant loss or damage or in or towards
discharge of the Company’s Obligations

Deeds
Securities and Debts

4.1                                 The Company will from time to time deposit with the Bank all
insurance policies (or where the Bank agrees copies of them) deeds and
documents of title relating to the Property

4.2                                 The Company will pay into the Company’s account with the Bank
and if more than one then into such account or such account with another bank
as the Bank may specify from time to time all money which the Company may
receive in respect of the Company’s book debts and other debts

Repair
and Alteration

5.1                                 The Company will keep the Property charged by Clauses 1.1 to
1.4 inclusive in good condition and the Bank may enter and inspect and in
default effect repairs (without becoming liable to account as mortgagee in
possession)

5.2                                 The Company will not without the prior written consent of
the Bank make any alteration to the Property charged by Clauses 1.1 and 1.2
which would require Planning Permission or approval under any Building
Regulations

Notice of
Crystallisation

6                                          The Bank may by written notice to the Company convert the
floating charge into a fixed charge as regards any of the property assets and
rights of the Company present and future not subject to a fixed charge under
this deed. Following such a notice the Company shall not dispose of any of such
Property which is included in the notice without the prior written consent of
the Bank

Powers of
the Bank

7.1                                 The Bank may without restriction grant or accept surrenders
of leases of the Company’s freehold and leasehold property or any part of it

7.2                                 Section 103 of the Law of Property Act 1925 shall not apply
and the Bank may exercise its power of sale and other powers under that or any
other Act or this deed at any time after the date of this deed

7.3                                 The Bank may under the hand of any official or manager or by
deed appoint or remove a Receiver or Receivers of the Property and may fix and
pay the fees of a Receiver but any Receiver shall be deemed to be the agent of
the Company and the Company shall be solely responsible for the Receiver’s acts
defaults and remuneration

7.4                                 The Bank may under the hand of any official or manager
appoint an administrator of the Company

7.5                                 All or any of the powers conferred on a Receiver by Clause 8
may be exercised by the Bank without first appointing a Receiver or
notwithstanding any appointment

7.6                                 The Bank will not be liable to account to the Company as
mortgagee in possession for any money not actually received by the Bank

7.7                                 Section 93(1) of the Law of Property Act 1925 shall not
apply to this deed

7.8                                 The Bank may as it thinks fit exercise any rights attaching
to the Property charged by Clauses 1.8 and 1.9 for the purpose of preserving
the value of or realising such Property but otherwise the Bank will only
exercise such rights in accordance with the Company’s instructions

7.9                                 In addition to any lien or right to which the Bank may be
entitled by law the Bank may from time to time without notice and both before
and after demand set off the whole or any part of the Company’s Obligations
against any deposit or credit balance on any account of the Company with the
Bank (whether or not that deposit or balance is due to the Company)

7.10                           Despite any term to the contrary in relation to any deposit
or credit balance on any account of the Company with the Bank that deposit or
balance will not be capable of being assigned dealt with mortgaged or charged
and will not be repayable to the Company before all the Company’s Obligations
have been discharged but the Bank may without prejudice to this deed permit the
Company to make withdrawals from time to time

7.11                           The Bank may exchange or convert to the Required Currency
any currency held or received

7.12.1                  If the Bank believes that any representation made by the
Company to the Bank is materially untrue or that the Company has breached or
might be about to breach any undertaking or covenant given to the Bank or any
part of the Company’s Obligations is not paid to the Bank when due then the
Bank may request that the Company appoint a firm of accountants to investigate
and report to the Bank on the financial affairs of the Company

7.12.2                  If the Bank makes a request under Clause 7.12.1 the Company
shall within 7 days (or such longer period as the Bank may allow) appoint a
firm of accountants approved by the Bank on terms of reference approved by the
Bank to carry out such investigation and make such report and the Company shall
be solely responsible for the fees and expenses of such firm of
accountants.  The Bank may pay the amount
of such fees and expenses on behalf of the Company and the Company shall
reimburse the Bank such amount on demand

7.13                           The Bank may apply to any account of the Company with the
Bank (whether in credit or debit or whether such account may go into debit as a
result) any amount which the Company is liable to pay or reimburse to the Bank
under this deed

Receivers

8.1                                 Any Receiver appointed by the Bank shall be a Receiver and
Manager and shall (in addition to all powers conferred on him by law) have the
following powers which in the case of Joint Receivers may be exercised jointly
or severally:-

8.1.1                        To take possession of and generally manage the Property and
any business of the Company

8.1.2                        To carry out on any freehold or leasehold property of the
Company any new works or complete any unfinished works of building
reconstruction maintenance furnishing or equipment

8.1.3                        To purchase or acquire any land or other property and
purchase acquire grant or release any interest in or right over land or the
benefit of any covenants (positive or restrictive) affecting land

8.1.4                        To sell lease surrender or accept surrenders of leases
charge or otherwise deal with or dispose of the Property without restriction
including (without limitation) power to dispose of any fixtures separately from
the land

8.1.5                        To carry into effect and complete any transaction by
executing deeds or documents in the name of or on behalf of the Company

8.1.6                        To take continue or defend any proceedings and enter into
any arrangement or compromise

8.1.7                        To insure the Property and any works and effect indemnity
insurance or other similar insurance and obtain 
bonds and give indemnities and security to any bondsmen

8.1.8                        To call up any uncalled capital of the Company with all the
powers conferred by the Articles of Association of the Company in relation to
calls

8.1.9                        To employ advisers consultants managers agents workmen and
others

8.1.10                  To purchase or acquire materials tools equipment goods or
supplies

8.1.11                  To borrow any money and secure the payment of any money in
priority to the Company’s Obligations for the purpose of the exercise of any of
his powers

8.1.12                  To do any other acts which the Receiver may consider to be
incidental or conducive to any of his powers or to the realisation of the
Property

8.2                                 A Receiver shall apply all money he receives first in
repayment of all money borrowed by him and his expenses and liabilities and in
payment of his fees and secondly towards the remaining matters specified in
Section 109(8) of the Law of Property Act 1925

Power of
Attorney

9                                         The Company irrevocably appoints the Bank and any Receiver
severally to be the Attorney of the Company (with full power of substitution
and delegation) in the Company’s name and on the Company’s behalf and as the
Company’s act and deed to sign or execute all deeds instruments and documents
or take continue or defend any proceedings which may be required by the Bank or
any Receiver pursuant to this deed or the exercise of any of their powers

Appropriation

10.1                           Subject to Clause 10.2 the Bank may appropriate all payments
received for the account of the Company in reduction of any part of the Company’s
Obligations as the Bank decides

10.2                           The Bank may open a new account or accounts upon the Bank
receiving actual or constructive notice of any charge or interest affecting the
Property. Whether or not the Bank opens any such account no payment received by
the Bank after receiving such notice shall (if followed by any payment out of
or debit to the relevant account) be appropriated towards or have the effect of
discharging any part of the Company’s Obligations outstanding at the time of
receiving such notice

Preservation
of other Security and Rights and Further Assurance

11.1                           This deed is in addition to any other security present or
future held by the Bank for the Company’s Obligations and shall not merge with
or prejudice such other security or any contractual or legal rights of the Bank

11.2                           The Company will at its own cost at the Bank’s request
execute any deed or document and take any action required by the Bank to
perfect this security or further to secure on the Property the Company’s
Obligations

Memorandum
and Articles of Association

12                                    The Company certifies that this deed does not contravene the
Company’s Memorandum and Articles of Association

Notices

13.1                           Any notice or demand by the Bank may be served personally on
any director or the secretary of the Company or may be sent by post or fax or
delivered to the Company at the Company’s address last known to the Bank

13.2                           A notice or demand by the Bank by post shall be deemed
served on the Business Day after posting

13.3                           A notice or demand sent by the Bank by fax (i) during the
Bank’s working hours on a Business Day shall be deemed served on the day of
sending (ii) at any other time shall be deemed served on the next following
Business Day

13.4                           “Business Day” means any day other than a Saturday or Sunday
on which banks are generally open for business in London

Governing
Law

14                                    This deed shall be governed by and construed in accordance
with English law

Interpretation

15.1                           The expressions “Company” and “Bank” where the context admits
include their respective successors in title and assigns

15.2                           The expression “subsidiary” carries the same meaning as in
section 736(1) of the Companies Act 1985

15.3                           Interest will be calculated both before and after demand or
judgment on a daily basis and compounded according to agreement or in the
absence of agreement monthly on such days as the Bank may select

15.4                           References to the “Property” include any part of it

15.5                           References to freehold and leasehold property include all
covenants and rights affecting or concerning the same

15.6                           Each of the provisions of this deed shall be severable and
distinct from one another and if one or more of such provisions is invalid or
unenforceable the remaining provisions shall not in any way be affected

In Witness
of which this deed has been duly executed

	
  

  	
   

  	
   

  
	
   

  	
  )

  	
      Chris Robinson

  
	
  Signed and Delivered as a deed by

  	
  )

  	
  Director

  
	
  the Company acting by a director

  	
  )

  	
   

  
	
  and its secretary or two directors

  	
  )

  	
      Trevor Rowcliffe

  
	
   

  	
  )

  	
  Secretary/Director

  
	
   

  	
   

  	
   

  
	
  For and on behalf of the Bank

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
      Simon Pickett

  	
   

  	
   

  
	
  Duly Authorised Official

  	
   

  	
   

  

 

National
Westminster Bank Plc releases to the within named Company the undertaking and
other property and assets comprised in the within written document

For and on behalf
of National Westminster Bank Plc

	
  

  	
   

  
	
  Simon Pickett

  	
   

  
	
  Duly Authorised Official

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date                              March
  19, 2007

  	
   

  

 

BANK’S COPY

Resolution re Debenture

Extract
from the Minutes of a Meeting of the Directors of Russ Berrie
(UK) Limited  (the “Company”)

“After due
consideration of all the circumstances and on being satisfied that it is for
the benefit of the Company and in the interests of the Company for the purpose
of carrying on its business to create a debenture in the form now produced (the
“Debenture”) to secure all the liabilities of the Company to National
Westminster Bank Plc it was resolved
that the Debenture be executed as a deed by the Company and that it be duly
registered in the books of the Company and with the Registrar of Companies.”

I hereby certify that the
foregoing is a true extract from the Minutes of a Meeting of the Directors of
the Company at which (all appropriate interests having been declared) a quorum
entitled to vote was present duly held on the
            day
             of
             and
that a true copy of the Debenture has been retained by the Company.

	
  

  	
   

  
	
  Secretary                Trevor
  Rowcliffe

  	
   

  
	
   

  	
   

  

 

COMPANY’S COPY

Resolution re Debenture

Extract
from the Minutes of a Meeting of the Directors of Russ Berrie
(UK) Limited  (the “Company”)

“After due
consideration of all the circumstances and on being satisfied that it is for
the benefit of the Company and in the interests of the Company for the purpose
of carrying on its business to create a debenture in the form now produced (the
“Debenture”) to secure all the liabilities of the Company to National Westminster
Bank Plc it was resolved that the Debenture be
executed as a deed by the Company and that it be duly registered in the books
of the Company and with the Registrar of Companies.”

I hereby certify that the
foregoing is a true extract from the Minutes of a Meeting of the Directors of
the Company at which (all appropriate interests having been declared) a quorum
entitled to vote was present duly held on the
           day
           of
           and that a true
copy of the Debenture has been retained by the Company.

	
  

  	
   

  
	
  Secretary                Trevor
  Rowcliffe

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