Document:

Security Agreement, dated March 3, 2004

 Exhibit 10.15 
  
 SECURITY AGREEMENT 
  
 The undersigned (hereinafter called the “Debtor”) and INGRAM MICRO INC. (hereinafter called the “Secured Party”), for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, hereby agree as follows: 
  
 1. SECURITY INTEREST. The Debtor hereby grants to the Secured Party a security interest (hereinafter called the “Security Interest”) in
all of Debtor’s obligations owing to Scott A. Blum and/or the Scott A. Blum Separate Property Trust U/D/T 8/2/95, including any and all other obligations or liabilities that Debtor may hereafter from time to time create or incur and which are
owing to Scott A. Blum and/or the Scott A. Blum Separate Property Trust U/D/T 8/2/95, and including any and all indebtedness, obligations and liabilities of Debtor to Scott A. Blum and/or Scott A. Blum Separate Property Trust U/D/ T 8/2/95 of every
kind and character, direct or indirect, whether from time to time reduced and thereafter increased, or entirely extinguished and thereafter reincurred, conditionally or as collateral security from another by Scott A. Blum and/or Scott A. Blum
Separate Property Trust U/D/T 8/2/95 (including without limitation interest on any of the foregoing, whether accrued before or after the filing of any insolvency or bankruptcy proceedings of Debtor), and further referenced in that Subordination
Agreement dated March 3, 2004 (hereinafter collectively called the “Collateral”). 
  
 2. OBLIGATIONS SECURED. The Security Interest secures the full and punctual payment and performance when due, whether at a stated time, by acceleration or otherwise, of any and all indebtedness, obligations and
liabilities of the Debtor to the Secured Party, whether now existing or hereafter incurred, of every kind and character, direct or indirect, and whether such indebtedness, liabilities and obligations are from time to time reduced and thereafter
increased, or entirely extinguished and thereafter reincurred, including, without limitation, all now existing or hereafter incurred indebtedness, obligations and liabilities of the Debtor to the Secured Party (a) arising out of the purchase of
goods by the Debtor from the Secured Party, whether for the price thereof, transportation charges relating thereto, interest, fees, expenses or otherwise, or (b) arising under this Security Agreement (all said indebtedness, obligations and
liabilities described above in this paragraph, being hereinafter collectively called the “Obligations”). 
  
 3. REPRESENTATIONS AND WARRANTIES OF DEBTOR. The Debtor represents and warrants, and, so long as this Security Agreement is in effect, shall be
deemed continuously to represent and warrant that: (a) any financial statements and other information heretofore delivered to the Secured Party, and any representation, warranty or statement heretofore made or furnished to the Secured Party, by or
on behalf of the Debtor or any endorser, guarantor or any other party liable for, or whose assets or any interest therein secures, the payment or performance of all or an portion of the Obligations (collectively, the “Third Party
Obligor”), in connection with the Obligations, this Security Agreement or any document, instrument or agreement evidencing, securing or otherwise directly or indirectly relating, to any of the Obligations, were true and accurate in all material
respects when so delivered, made or furnished and, in the case of financial statements, were prepared in accordance with generally accepted accounting principles consistently applied in preceding periods; (b) there has been no material, adverse
change in the business or properties, or the condition or operations, financial or otherwise, of the Debtor or any Third Party Obligor since the date on which any of the financial statements, information, representations, warranties or statements
described in clause (a) above were delivered, made or furnished to the Secured Party; (c) the Debtor is the owner of the Collateral free of all security interests or other encumbrances, except the Security Interest and except as specified in
Schedule A attached hereto and made a part hereof; (d) the Debtor’s business address and chief executive office are at the Debtor’s address specified below; and the Debtor’s records concerning the Collateral are kept at the
Debtor’s address specified below; and any and all trade names, division names, assumed names or other names under which the Debtor transacts any part of its business are specified in Schedule A attached hereto and made a part hereof.

  
 4. COVENANTS OF DEBTOR. So long as this Security
Agreement is in effect, the Debtor: (a) will defend the Collateral against the claims and demands of all other parties; will keep the Collateral free from all security interests or other encumbrances, except the Security Interest and except as
specified in Schedule A attached hereto and made a part hereof; will not sell, transfer, lease, assign, deliver or otherwise dispose of any Collateral or any interest therein without the prior written consent of the Secured Party; (b) will notify
the Secured Party promptly in writing of any change in the Debtor’s business address and chief executive office specified below, any change in the address at which records concerning the Collateral are kept and any change in the Debtor’s
name, identity or corporate or other structure; (c) will furnish to the Secured Party such updated or additional financial statements, reports, tax returns and other information as the Secured Party may from time to time reasonably request regarding
the financial or business affairs of the Debtor; will keep, in accordance with generally accepted accounting principles consistently applied in preceding periods, accurate and complete books and records, including, without limitation, records
concerning the Collateral; at the Secured Party’s request, will mark any and all such books and records to indicate the Security Interest; will permit the Secured Party or its agents to audit and make extracts from or copies of such books and
records and any of the Debtor’s ledgers, reports, correspondence or other books and records; and will duly account to the Secured Party’s satisfaction, at such time or times as the Secured Party may require, for any of the Collateral; (d)
will deliver to the Secured Party upon demand, all Documents constituting, representing or relating to the Collateral or any part thereof, and any schedules, contracts or other documents representing or relating to the Collateral or any part
thereof; or (e) in connection herewith, will execute and deliver to the Secured Party such financing statements, assignments and other documents and do such other things relating to the Collateral and the Security Interest as the Secured Party may
request, and pay all costs of title searches and filing financing statements, assignments and other documents in all public offices requested by the Secured Party; and will not, without the prior written consent of the Secured Party, file or
authorize or permit to be filed in any public office any financing statement naming the Debtor as debtor and not naming the Secured Party as secured party. 
  
 5. VERIFICATION OF COLLATERAL. The Secured Party shall have the right to verify all or any Collateral in any manner and through any medium the
Secured Party may consider appropriate, and the Debtor agrees to furnish all assistance and information and perform any acts which the 

 
Secured Party may require in connection therewith and to pay all of the Secured Party’s costs therefore. 
  
 6. DEFAULT. 
  
 (a) Any of the following events (hereinafter collectively called the
“Events of Default” and individually called an “Event of Default”) shall constitute an Event of Default hereunder: (i) any of the Obligations shall not be paid or performed when any such payment or performance shall have become
due; (ii) any financial statements or other information heretofore or hereafter delivered to the Secured Party by or on behalf of the Debtor or any Third Party Obligor, or any representation or warranty made by the Debtor hereunder, or any
representation, warranty or statement otherwise heretofore or hereafter made or furnished to the Secured Party by or on behalf of the Debtor or any Third Party Obligor, shall prove to have been untrue or incorrect in any material respect when so
delivered, made or furnished; (iii) the Debtor or any Third Party Obligor shall fail to perform or observe any term, covenant, agreement or condition contained herein or in any document, instrument or agreement evidencing, securing or otherwise
directly or indirectly relating to any of the Obligations; (iv) the Debtor or any Third Party Obligor shall become insolvent, or shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts
generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Debtor or any Third Party Obligor seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding
ups reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of any order for relief or the
appointment of a receiver, trustee or other similar official for it or for any substantial part of its property; or the Debtor or any Third Party Obligor shall take any corporate or other action to authorize any of the actions set forth above in
this clause (iv); (v) a final judgment or order for the payment of money or a writ or order of attachment, shall be rendered against the Debtor or any Third Party Obligor not specifically covered by insurance and either (a) enforcement proceedings
shall have been commenced by any creditor upon such judgment, order or writ, or (bb) a stay of enforcement of such judgment, order or writ, by reason of a pending appeal or otherwise, shall not be in effect for any period of ten (10) consecutive
days; or (vi) if the Debtor or any Third Party Obligor is an individual, the Debtor or any such Third Party Obligor shall die or shall be judicially declared to be incompetent; (vii) the Debtor or any Third Party Obligor shall be dissolved, or shall
cease doing business as a going business concern, or shall make any, or send notice of any intended, bulk sale, or shall sell, assign, transfer, lease, convey or otherwise dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired), or shall merge into or be consolidated with any party without the prior written consent of the Secured Party; (viii) any indebtedness, obligation or liability of the Debtor
or any Third Party Obligor to any party other than the Secured Party shall not be paid or performed when due, whether at stated maturity, by acceleration or otherwise, or shall be declared to be due and payable prior to the stated maturity thereof;
or (ix) the Secured Party shall in good faith deem itself insecure. 
  
 (b) If any one or more of the Events of Default shall occur, all or any part of any Obligations not payable on demand shall, at the election of the Secured Party, become and be due and payable at once, without presentment, demand, protest
or further notice of any kind. The provisions of this subparagraph are not intended in any way to and do not affect any rights of the Secured Party with respect to any Obligations which may now or hereafter be payable on demand. 
  
 (c) The Secured Party’s rights and remedies with respect to the
Collateral shall be those of a Secured Party under the Uniform Commercial Code and under any other applicable law, as the same may from time to time be in effect, in addition to those rights and remedies granted herein and in any other document,
instrument or agreement now or hereafter in effect between the Debtor and the Secured Party. If any one or more of the Events of Default shall occur, the Secured Party may require the Debtor to assemble the Collateral and make it available to the
Secured Party at a place or places designated by the Secured Party, and the Secured Party may use and operate the Collateral, and, in this regard, the Secured Party shall be entitled as a matter of right, if it shall so elect, forthwith, without
prior demand or notice, and without declaring any of the Obligations to be due and payable, and without regard to the value of the Collateral or any part thereof, to the appointment of a receiver or receivers of the Collateral or any part thereof,
and of all revenues and profits thereof, in order to manage, protect and preserve the Collateral or any part thereof and to continue the operations and business of the Debtor, with such powers as the court making such appointment shall confer, which
may comprise any or all of the powers that the Secured Party is authorized to exercise hereunder or under applicable law. 
  
 (d) Without in any way requiring notice to be given in the following time and manner, the Debtor agrees that any notice by the Secured Party of sale,
disposition or other intended action hereunder or in connection herewith, whether required by the Uniform Commercial Code or otherwise, shall constitute reasonable notice to the Debtor if such notice is mailed by regular or certified mail, postage
prepaid, at least five (5) days prior to such action to the Debtor’s address specified below or to any other address which the Debtor has specified in writing to the Secured Party as the address to which notices hereunder shall be given to the
Debtor. 
  
 (e) The Debtor agrees to pay on demand all costs and
expenses incurred by the Secured Party in enforcing this Security Agreement, in realizing upon or protecting any Collateral and in enforcing and collecting any Obligations or any guaranty thereof, including, without limitation, if the Secured Party
retains counsel for advice, suit, appeal, insolvency or other proceedings under the federal Bankruptcy Code or otherwise, or for any of the above purposes, the actual attorneys’ fees incurred by the Secured Party. Payment of all moneys
hereunder is secured by the Collateral. 
  
 8.
MISCELLANEOUS 
  
 (a) The Debtor hereby authorizes the
Secured Party, at the Debtor’s expense, to file such financing statement or statements relating to the Collateral without the Debtor’s signature thereon as the Secured Party at its option may deem appropriate, and appoints the Secured
Party as the Debtor’s attorney-in-fact (without requiring the Secured Party) to execute any such financing statement or statements in the Debtor’s name and to perform all other acts which the Secured Party deems appropriate to perfect and
continue the Security Interest and to protect, preserve and realize upon the Collateral. This power of attorney shall be not affected by the subsequent disability or incompetence of the Debtor. 
  
 (b) Without limiting any other right of the Secured Party, whenever the
Secured Party has the right to declare any Obligations to be immediately due and payable (whether or not it has so declared), the Secured Party at its sole election may set off against the Obligations any and all moneys then or thereafter owed to
the Debtor by the Secured Party in any capacity, whether or not the Obligations or the obligation to pay such moneys owed by the Secured Party is then due, and the Secured Party shall be deemed to have exercised such right 

  

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of set off immediately at the time of such election even though any charge therefore is made or entered on the Secured Party’s records subsequent
thereto. 
  
 (c) Upon the Debtor’s failure to perform any of
its duties hereunder, the Secured Party may, but shall not be obligated to, perform any or all such duties, including without limitation, payment of taxes, assessments, insurance and other charges and expenses as herein provided, and the Debtor
shall pay an amount equal to the cost thereof to the Secured Party on demand by the Secured Party. Payment of all moneys hereunder is secured by the Collateral. 
  

(e) No course of dealing between the Debtor and the Secured Party and no delay or omission by the Secured Party in exercising any right or remedy
hereunder or with respect to any Obligations shall operate as a waiver thereof or of any other right or remedy, and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right or
remedy. The Secured Party may remedy any default by the Debtor hereunder or with respect to any Obligations in any reasonable manner without waiving the default remedied and without waiving any other prior or subsequent default by the Debtor. All
rights and remedies of the Secured Party hereunder are cumulative. 
  
 (f) The Debtor authorizes the Secured Party, without notice or demand and without affecting the Debtor’s obligations hereunder, from time to time: (i) to exchange, enforce or release any collateral or any part thereof (other than the
Collateral) taken from any party for payment of the Obligations or any part thereof; (ii) to release, substitute or modify any obligation of any Third Party Obligor; (iii) if any one or more of the Events of Default shall occur, to direct the order
or manner of disposition of the Collateral and any and all other collateral and the enforcement of any and all endorsements, guaranties and other obligations relating to the Obligations or any part thereof, as the Secured Party, in its sole and
absolute discretion, may determine; and (iv) to determine how, when and what application of payments and credits, if any, shall be made on the Obligations or any part thereof. 
  
 (h) The rights and benefits of the Secured Party hereunder shall, if the Secured Party so directs, inure to any party
acquiring any interest in the Obligations or any part thereof. 
  
 (i) This Security Agreement shall be binding upon the Debtor, its legal representatives, successors and assigns, and shall inure to the benefit of the Secured Party, its legal representatives, successors and assigns. 
  
 (j) In the event that more than one Debtor shall execute this Security
Agreement, the term “Debtor” shall include each as well as all of them, and all obligations, agreements, representations, warranties and covenants hereunder shall be their joint and several obligations, agreements, representations,
warranties and covenants. Wherever used herein, words of singular neuter import shall be read as if written in the plural, masculine or feminine whenever the circumstances so require. 
  
 (k) No recision, waiver, release, modification or amendment of any provision of this Security Agreement shall be valid
unless the same shall be in writing and signed by a duly authorized officer of the Secured Party. 
  
 (l) The validity, interpretation and legal effect of this Security Agreement shall be governed by, and all rights and liabilities hereunder shall be
determined in accordance with the laws of the State of New York. THE DEBTOR HEREBY AGREES THAT ANY ACTION OR PROCEEDING TO ENFORCE OR ARISING OUT OF THIS SECURITY AGREEMENT MAY BE COMMENCED, AT THE OPTION OF THE SECURED PARTY, IN COURTS HAVING SUITS
WITHIN THE STATE OF NEW YORK AND THE DEBTOR HEREBY CONSENTS TO THE JURISDICTION OF ANY LOCAL, STATE OR FEDERAL COURT SELECTED BY THE SECURED PARTY WHICH IS LOCATED WITHIN THE STATE OF NEW YORK AND AGREES NOT TO DISTURB SUCH CHOICE OF FORUM BY THE
SECURED PARTY. THE DEBTOR HEREBY WAIVES PERSONAL SERVICE OF PROCESS AND AGREES THAT ANY SUMMONS AND COMPLAINT OR OTHER PROCESS COMMENCING AN ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE PROPERLY SERVED AND SHALL CONFER PERSONAL JURISDICTION (I)
IF SERVED BY REGISTERED OR CERTIFIED MAIL TO THE DEBTOR AT THE ADDRESS OF THE DEBTOR STATED BELOW OR SUCH OTHER ADDRESS AS THE DEBTOR MAY FROM TIME TO TIME SPECIFY IN A WRITTEN NOTICE COMPLYING AS TO DELIVERY WITH THE TERMS OF THE IMMEDIATELY
SUCCEEDING SUBPARAGRAPH OF THIS PARAGRAPH, OR (II) IF SERVED AS OTHERWISE PROVIDED BY THE LAWS OF THE STATE OF NEW YORK OR THE LAWS OF THE UNITED STATES OF AMERICA. THE DEBTOR HEREBY WAIVES (I) TRIAL BY JURY IN ANY SUCH ACTION OR PROCEEDING TO
ENFORCE OR ARISING OUT OF THIS SECURITY AGREEMENT, AND (II) THE RIGHT TO INTERPOSE ANY COUNTERCLAIM OR SET-OFF OF ANY KIND OR DESCRIPTION IN ANY SUCH ACTION OR PROCEEDING. 
  
 (m) All notices, requests, demands, directions and other communications which may or are required to be given, served or
sent by either the Secured Party or the Debtor to the other under this Security Agreement shall be in writing and shall be deemed to have been properly given or sent if mailed by registered or certified mail with postage prepaid, addressed to the
applicable party (i) in the case of the Secured Party, at 1759 Wehrle Drive, Williamsville, New York 14221 (Attention: Vice President—Credit), (ii) in the case of the Debtor, at the address of the Debtor stated below, or (iii) in the case of
each party, at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this subparagraph. All such notices, requests, demands, directions and other communications
shall, when mailed in the aforesaid manner, be effective when so mailed, except as otherwise provided herein. 
  
 (n) All terms, unless otherwise defined in this Security Agreement, shall have the definitions set forth in the Uniform Commercial Code from time to time
in effect in the State of New York. 
  
 (o) The Debtor hereby
irrevocably appoints the Secured Party the Debtor’s agent with full power, in the same manner, to the same extent and with the same effect as if the Debtor were to do the same: to receive and collect all mail addressed to the Debtor; to direct
the place of delivery thereof to any location designated by the Secured Party; to open such mail; to remove all contents therefrom; to retain all contents thereof constituting or relating to the Collateral; and to perform all other acts which the
Secured Party deems appropriate to protect, preserve and realize upon the Collateral. The agency hereby created is unconditional and shall not terminate until all of the Obligations are finally and irrevocably paid in full and until all commitments
by the Secured Party to extend credit to the Debtor have expired or been terminated. This power of attorney shall not be affected by the subsequent disability or incompetence of the Debtor. 
  
 (p) This Security Agreement shall not be deemed or construed to create any
commitment or other obligation on the part of the Secured Party to make any sales or deliveries of Equipment or Inventory to the Debtor and all sales and 

  

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deliveries to be made, if any, shall be made from time to time at the sole discretion of the Secured Party upon such terms and conditions as the Secured
Party shall determine from time to time in the Secured Party’s sole judgment and discretion. 
  
 (q) This Security Agreement is and is intended to be a continuing Security Agreement and shall remain in full force and effect until ten (10) days after
the Secured Party shall have actually received from the Debtor written notice of its discontinuance; provided, however, that this Security Agreement shall remain in full force and effect thereafter until all of the Obligations outstanding, or
contracted or committed for (whether or not outstanding), before the receipt of such notice by the Secured Party and the expiration of such ten (10) day period, and any extensions or renewals thereof (whether made before or after receipt of such
notice or before or after the expiration of such ten (10) day period), together with interest accruing thereon, shall be finally and irrevocably paid in full. If after receipt of any payment of all or any part of the Obligations, the Secured Party
is for any reason compelled to surrender such payment to any party, because such payment is determined to be void or voidable as a preference, impermissible set off, or a diversion of trust funds, or for any other reason, this Security Agreement
shall continue in full force and effect notwithstanding any contrary action which may have been taken by the Secured Party in reliance upon such payment, and any such contrary action so taken shall be without prejudice to the Secured Party’s
rights under this Security Agreement and shall be deemed to have been conditioned upon such payment having become final and irrevocable. 
  
 IN WITNESS WHEREOF, the Debtor and the Secured Party have duly executed this Security Agreement effective as of the 3rd day of March, 2004. 
  

			
	 SECURED PARTY:
  
 INGRAM MICRO INC.

		
	 By:
	 	 /s/ Keith Bradley

	 	 	 Keith Bradley, SVP & CFO North America

  
 DEBTOR: 
  

									
	 Buy.com, Inc.
	 	 	 	 
					
	 By:
	 	 /s/ Robert B. Price
	 	 	 	 	 	 
	 Signature
	 	 	 	 	 	 
				
	 Robert Price, Chief Financial Officer
	 	 	 	 	 	 
	 85 Enterprise, Suite 100
	 	 	 	 	 	 
	 Aliso Viejo, CA 92656
	 	 	 	 	 	 

  

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 SCHEDULE A 
  

	1.	Security interests or other encumbrances covering the Collateral, if any (paragraphs 3(c) and 4(a)): 

  
 Check applicable box (if no box is checked, it shall be deemed to mean that there are no such security interests or other
encumbrances): 
  
  ̈  None 
  
  ̈  Holders of security interests or other encumbrances covering the Collateral are set forth below:

  

	2.	Other names under which the Debtor transacts business (paragraph 3(d)): 

  
 Check applicable box (if no box is checked, it shall be deemed to mean that there are no such other names): 
  
  ̈  None 
  
  ̈  Other names are set forth below: 
  

 - 5 -Employment Agreement

 Exhibit 10.17 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) made and entered into effective as of the first day of July 13, 2005, by and between ECCA Management
Services, Ltd., a Texas partnership (the “Company”), or its assigns, and James J. Denny (“Employee”); 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company desires to employ executive on the terms and conditions set forth below; and 
  
 WHEREAS, Employee desires to serve in the employment of the Company on the
terms and conditions set forth below; 
  
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows: 
  
 1. Employment. The Company hereby employs Employee and Employee hereby accepts such employment, upon the terms and conditions set forth herein.
 
  
 2. Term. The initial term of this Agreement
shall commence on July 13, 2005 (the “Effective Date”) and shall terminate on July 13, 2006 (the “Initial Termination Date”), subject to earlier termination as hereinafter provided (the “Term”). 
  
 3. Duties. During the Term, employee agrees that he will devote his
full business time, attention and energies to the business of the Company and its subsidiaries and affiliates, if applicable, and to the performance of his duties hereunder, and shall not engage in any other business, profession, or occupation for
compensation or otherwise. 
  
 4. Compensation. 

 
 (a) Base Compensation. During the term of this Agreement, the
Company shall pay to Employee a salary at an annual rate of not less than $327,600 (the “Base Salary”). The Base Salary shall be reviewed by the Board from time to time as the Board deems appropriate. The Base Salary shall be payable
during the Term in substantially equal installments not less frequently than monthly in accordance with the Company’s standard payroll policy or in such other installments as the parties may mutually agree. Employee’s salary may be
adjusted during the term of this Agreement by mutual agreement of the parties. 
  
 (b) Bonus. Employee shall be eligible to earn a bonus based upon a bonus plan to be determined from time to time by the Company prior to the commencement of each calendar year. 

 (c) Reimbursement of Expenses; Automobile. The Company shall reimburse Employee, in accordance
with the Company’s policy in effect from time to time, for all reasonable travel, entertainment and other business expenses incurred by Employee in the performance of his duties and responsibilities hereunder. Employee will receive an
automobile allowance of $500 per month and will be reimbursed for his reasonable automobile insurance costs. 
  
 (d) Stock Option Plan. Employee shall be eligible to participate in the ECCA Management Services, Ltd.’s Executive Stock Option Plan, and his
rights with respect to options granted to him thereunder shall be governed solely by the terms of such plan, as it may be in effect from time to time, and the terms of the Stock Option Agreement evidencing the grant of such options. 
  
 (e) Net Payments. The amount of any gross payments provided for in
this Agreement shall be paid net of any applicable withholding required under federal, state or local law. 
  
 5. Benefits. Employee shall be entitled to receive the benefits made available or applicable from time to time to the employees of the Company;
provided, however, that the receipt of such benefits by Employee shall be subject to the Company’s eligibility and enrollment requirements pertaining to such benefit programs. 
  
 6. Confidentiality and Competitive Activities. 
  
 (a) Confidentiality. Employee acknowledges that during his employment with the Company, the Company has and will
continue to disclose to him the confidential affairs and proprietary information of the Company and its subsidiaries and affiliates which is developed by and belongs to the Company and its subsidiaries and affiliates, including matters of a business
nature such as information about costs, profits, markets, sales, trade secrets, potential patents and other business ideas, customer lists, supplier and vendor lists, plans for future developments and/or acquisitions, and information of any other
kind not known within the optical retail industry generally (collectively, “Confidential Matters”). Employee further acknowledges that the Company would not hire Employee or disclose these Confidential Matters to Employee without the
promises made by Employee in this Section 6. In light of the foregoing, Employee agrees: 
  
 (i) To keep secret all Confidential Matters of the Company and of any subsidiaries and affiliates of the Company, and not to disclose them
to anyone outside of the Company or its subsidiaries or affiliates, or otherwise use them or use his knowledge of them for his own benefit or for the benefit of any third party, including, without limitation, use of the trade secrets, trade names or
trademarks of the Company, either during or after the Term, except with the Company’s prior written consent; and 
  
 (ii) To deliver promptly to the Company at the termination of the Term, or at any time the Company may request, all memoranda, notices,
records, reports and other documents (and all copies thereof) relating to the business of the Company or any of its subsidiaries or affiliates, including, but not limited to, Confidential Matters, which he may then possess or have under his control.
Notwithstanding any of the foregoing, the term “Confidential Matters” does not include information which (i) is or becomes generally available to the public other than as a result of any disclosure by Employee or (ii) Employee is compelled
to disclose by 

  

 2 

 
judicial or administrative process; provided, that in the case of any such requirement or purported requirement Employee shall provide written notice to the
Company prior to producing such information, which notice shall be given at least ten (10) days prior to the producing such information, if practicable, so that the Company may seek a protective order or other appropriate remedy. 
  
 (b) Competitive Activities. Employee expressly recognizes and
acknowledges that the terms and condition of this Section 6(b) are reasonable as to time, area and scope of restricted activity, necessary to protect the legitimate interests of the Company, and are not unduly burdensome to Employee. For a period
commencing on the Effective Date and ending twelve (12) months following the effective date of a termination of Employee’s employment (for any reason whatsoever other than termination by the Company without Cause or if the Company elects not to
renew the Term as provided in Section 2 hereof), Employee shall not, without the written consent of the Company, directly or indirectly (whether for compensation or otherwise), alone or as officer, director, stockholder (excepting not more than 1%
stockholdings for investment purposes in securities of publicly held and traded companies), partner, associate, employee, agent, principal, trustee, salesman, consultant, capacity, take any action in or participate with or become interested in or
associated with the companies commonly referred to as Cole/Pearl, Lenscrafter or Walmart (or any successor thereto). (Such activities are hereinafter referred to as the “Competitive Activities”). 
  
 (c) Antisolicitation. Employee agrees that during the Term of this
Agreement, and for a period of two (2) years thereafter, he will not influence or attempt to influence customers (including customers with respect to managed care plans), vendors or suppliers of the Company or any of its present or future direct or
indirect subsidiaries or affiliates, either directly or indirectly, to divert their business from the Company or any of its direct or indirect subsidiaries or affiliates to any individual, partnership, firm, corporation or other entity then in
competition with the business of the Company or any subsidiary or affiliate of the Company; provided this prohibition shall not apply to general advertisements in newspaper or other widely distributed publications, media, or mail, whether electronic
or otherwise. 
  
 (d) Soliciting Employees. Employee agrees
that during the Term of this Agreement, and for a period of two (2) years thereafter, he will not, directly or indirectly contact or solict to employ, or employ, any of the then current or past employees of the Company or any subsidiary or affiliate
of the Company unless such person shall have ceased to be employed by the Company and such cessation of employment shall have occurred at least twelve (12) months prior thereto; provided this prohibition shall not apply to general advertisements in
newspaper or other widely distributed publications, media, or mail, whether electronic or otherwise. 
  
 7. Remedies for Breach. In addition to the rights and remedies provided in Section 14, and without waiving the same if Employee breaches, or
threatens to breach, any of the provisions of Section 6, the Company shall have the following rights and remedies, in addition to any others, each of which shall be independent of the other and severally enforceable: 
  
 (i) The right and remedy to have such provisions
specifically enforced by any court having equity jurisdiction together with an accounting for any benefit or gain by Employee in connection with any such breach. Employee specifically acknowledges and agrees that any breach or threatened breach of
the provisions of Section 6 will cause 

  

 3 

 
irreparable injury to the Company and that money damages will not provide an adequate remedy to the Company. Such injunction shall be available without the
posting of any bond or other security. 
  
 (ii)
The right and remedy to require Employee to account for and pay over to the Company all compensation, profits, monies, accruals, increments or other benefits (hereinafter collectively the “Benefits”) derived or received, directly or
indirectly, by Employee as a result of any transactions constituting a breach of any of the provisions of Section 6, Employee hereby agreeing to account for and pay over the Benefits to the Company. 
  
 (iii) The right to terminate Employee’s employment
pursuant to Section 8(c). 
  
 (iv) Upon discovery
by the Company of a breach or immediate and material threatened breach of Section 6, the right to immediately suspend payments to Employee under Section 8, pending a resolution of the dispute. 
  
 If any covenant contained in Section 6 or any portion thereof is hereafter
construed to be invalid or unenforceable, the same shall not affect the remainder of the covenant or covenants contained therein, which shall be given full effect, without regard to the invalid portions, and any court having jurisdiction shall
reform the covenant to the extent necessary to cause the limitations contained therein as to time, geographical area and scope of activity to be restrained to be reasonable and to impose a restraint that is not greater than necessary to protect the
goodwill and other business interest of the Company and to enforce the covenant as reformed. The parties hereto intend to and hereby confer jurisdiction to enforce the covenants contained in Section 6 upon the courts of any state or other
jurisdiction in which any alleged breach of any such covenant occurs. If the courts of any of one or more of such states or other jurisdictions shall hold such covenants not wholly enforceable by reason of the scope thereof or otherwise, it is the
intention of the parties hereto that such determination not bar or in any way affect the Company’s right to the relief provided above in the courts of any other states or jurisdictions as to breaches of such covenants in such other respective
states or jurisdictions, and the above covenants as they relate to each state or jurisdiction being, for this purpose, severable into diverse and independent covenants. 
  
 8. Termination of Agreement. 
  

(a) Death. This Agreement shall automatically terminate upon the death of Employee. During the Term, if Employee’s employment is terminated
due to his death, Employee’s estate shall be entitled to receive the Base Salary set forth in Section 4 accrued through the date of death; provided, however, Employee’s estate shall not be entitled to any bonus payments (except as
otherwise provided in the applicable bonus plan) or any other benefits (except as provided by law). 
  
 (b) Disability. If Employee is unable to perform his services by reason of mental or physical Disability (as herein defined), the Company may
terminate this Agreement at any time. Upon termination of Employee’s employment due to Disability, Employee shall be entitled to receive the Base Salary set forth in Section 4 accrued through the date on which Employee is first eligible to
receive payment of disability benefits under the employee benefit plans as then in effect, and if no such plan is in effect, through the month ending one hundred eighty (180) days after onset of Disability and Employee shall not be entitled to any
bonus payments (except as 

  

 4 

 
otherwise provided in the applicable bonus plan) or any other benefits (except as provided by law). The term “Disability” shall mean an infirmity
preventing Employee from performing his duties for a period of more than three (3) consecutive months where no reasonable accommodation is available or where a reasonable accommodation would create an undue burden on the Company. Any question as to
the existence of the Disability of Employee as to which Employee and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Employee and the Company. If the Employee and the Company cannot
agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability made in writing to the Company and
Employee shall be final and conclusive for all purposes of the Agreement. 
  
 (c) Termination For Cause. The Company may terminate this Agreement at any time for “Cause” in accordance with the procedures provided below. Termination of this Agreement for “Cause” shall
mean termination upon (i) the breach of any material provision of this Agreement by Employee which has not been rectified or cured within 30 days after notice by the Company to the Employee containing in reasonably specific detail the violation or
breach and the necessary corrective action to rectify or cure such violation or breach, (ii) commission of an act punishable by imprisonment, (iii) willful failure to substantially perform his duties hereunder (other than as a result of total or
partial incapacity due to physical or mental illness) which has not been rectified or cured within 30 days after notice by the Company to the Employee containing in reasonably specific detail the acts or omissions complained of and the necessary
corrective action to rectify or cure the matters set forth in such notice; provided, however, if the actions or omissions that are the subject of such notice are substantially similar to acts or omissions with respect to which the Employee has
received notice hereunder within the prior 12 months and had an opportunity to cure or rectify, the Employee shall not be entitled to such notice and opportunity to cure, (iv) the engaging by Employee in conduct that is materially injurious to the
Company, monetarily or otherwise, including, without limitation, embezzlement, fraud, theft, dishonesty, misfeasance, insubordination, malfeasance, and neglect of duties, (v) violation of the Company’s code of conduct or any material violation
or repeated violations by Employee of the other policies and procedures promulgated from time to time by the Company, or (vi) current alcohol or drug abuse by Employee. In the event of termination of Employee’s employment for Cause, Employee
shall be entitled to receive only the Base Salary set forth in Section 4 accrued through the date of termination and he shall not be entitled to any bonus payments or other benefits (except as provided by law). 
  
 (d) Other Termination by the Company. The Company may terminate this
Agreement at any time without “Cause” by providing written notice to Employee. If the Company terminates this Agreement at any time without Cause (i.e., other than pursuant to Section 8(b) or 8(c) above), or the Company elects not to renew
the Term as provided in Section 2 hereof, the Company shall continue to pay Employee his Base Salary for a period of twenty-four months following the date of termination of employment, the timing and manner of such payments to be in
accordance with the salary payment arrangements in effect at the time of such termination. Employee shall be required to comply with Section 6. It shall be a condition precedent of payment to Employee of such continued payments pursuant to this
subsection (d) that the Employee execute a full and complete release of the Company, each of its subsidiaries, affiliates and their respective past, present and future officers, directors, employees, consultants, attorneys, agents and shareholders,
in form and substance reasonably acceptable to the Company, of any claims Employee may have against any of them, to the extent such claims arise from 

  

 5 

 
Employee’s employment hereunder. Notwithstanding any provision in this Agreement to the contrary, the Company’s obligations to make payments
pursuant to this Section 8(d) shall immediately terminate in the event that the Employee engages in any of the Competitive Activities (even if Section 6(b) is not applicable due to termination of employment without Cause). 
  
 (e) Termination by Employee. Employee may terminate this Agreement
upon thirty (30) days prior written notice to the Company. Termination shall be effective at the expiration of the notice period. All obligations of the Company under this Agreement shall end on the effective date of termination and the Company
shall have no further obligations under this Agreement, including, but not limited to payment of salary, bonuses or any similar compensation or benefits. Notwithstanding the notice provided by Employee, the Company, in its sole discretion, may
choose to accept Employee’s resignation immediately. In that event, the Company’s only obligation to Employee will be to pay the Base Salary Employee would have received during the notice period. 
  
 (f) Mitigation. Employee shall not be required to mitigate the amount
of any payment or benefit to be provided pursuant to Section 8(d) (“Severance”) by seeking other employment. However, anything in this Agreement notwithstanding, if Employee provides services for other than de minimus pay to anyone other
than the Company or any of its subsidiaries or affiliates (“Third Party Services”) during a period in which he is receiving such Severance (the “Severance Period”), the amount of Severance to be paid to Employee with respect to
such Severance Period shall, beginning on the date such payment for Third Party Services is received by employee, be reduced by the lesser of (i) fifty percent (50%) of such Severance payment, or (ii) fifty percent (50%) of such payment for Third
Party Services rendered. 
  
 9. Effect of Termination. Upon
the termination of this Agreement, whether by the expiration of the Term specified in Section 2 or pursuant to Section 8, the rights of Employee which shall have accrued prior to the date of such termination shall not be affected in any way. Except
as provided in Section 8(d), Employee shall not have any rights which have not previously accrued upon termination of this Agreement. 
  
 10. Communications. All notices and other communications under this Agreement shall be in writing and shall be deemed to have been duly given when
(a) delivered by hand (with written confirmation of receipt), (b) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested), in each case to the respective addresses set forth below, or to such
other addresses as either party may have furnished to the other in writing in accordance herewith, except that notice of a change of address shall be effective only upon actual receipt; to the Company: the Company, at c/o ECCA Management Services,
Ltd., 11103 West Avenue, San Antonio, Texas 78213-1392, for the attention of Dave McComas, Chairman and Chief Executive Officer; and to Employee: James J. Denny, Sugarloaf Mountain #5, Carrabassett Valley, Maine 04947. 
  
 11. Amendments or Additions. No amendments or additions to this
Agreement shall be binding unless in writing and signed by all parties hereto. 
  
 12. Binding Effect; Assignability. This Agreement shall be binding upon, and shall inure to the benefit of, Employee; the obligations of Employee hereunder are personal and this 

  

 6 

 
Agreement may not be assigned by Employee. This Agreement is completely assignable by the Company without notice to or consent of Employee. This Agreement
shall be binding upon, and shall inure to the benefit of, the Company and shall also bind and inure to the benefit of any successor of the Company by merger or consolidation or any assignee of all or substantially all of its properties. 

 
 13. Headings; References. The headings used in this Agreement are
included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. References to a “Section” when used without further attribution shall refer to the particular sections of this
Agreement. 
  
 14. Binding Arbitration. Subject to the
rights of any party to seek injunctive relief pursuant to Section 7 above and without waiving the same, the parties agree that all disputes, controversies or claims that may arise among them (including their agents and employees), arising out of or
relating to this Agreement, or the breach, termination or invalidity thereof, shall be submitted to, and determined by, binding arbitration. Such arbitration shall be conducted before a single arbitrator pursuant to the Commercial Arbitration Rules
then in effect of the American Arbitration Association, except to the extent such rules are inconsistent with this Section 14. The arbitrator shall apply the laws of the State of Texas (without regard to conflict of law rules) in determining the
substance of the dispute, controversy or claim and shall decide the same in accordance with applicable usages and terms of trade. The fees of the arbitration initially shall be paid one-half by the Company and one-half by Employee; provided,
however, that the prevailing party in any such arbitration shall be entitled to recover its reasonable attorneys’ fees, costs and expenses incurred in connection with the arbitration. Any award pursuant to such arbitration shall be final and
binding upon the parties, and judgment on the award may be entered in any federal or state court sitting in any court having jurisdiction. The obligations set forth in this Section 14 shall survive the termination of this Agreement. THE COMPANY
AND EMPLOYEE EACH KNOWINGLY AND VOLUNTARILY GIVE UP ANY RIGHT TO A TRIAL BY JURY IN CONNECTION WITH ANY DISPUTE, CLAIM OR CONTROVERSY WHICH MAY ARISE BETWEEN THEM. 
  
 15. Miscellaneous. No provision of this Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is agreed to in writing and signed by Employee and such officer as may be specifically designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or
otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Texas without regard to its conflicts of law principles. 
  
 16. Surviving Provisions. The obligations of the Company under Section 8, of Employee under Section 6, and of both the Company and Employee under Section 14 shall survive the expiration of the Term of this
Agreement. 
  
 17. Entire Agreement. This Agreement shall
constitute the entire agreement between the parties superseding all prior agreements and all other negotiations, letter of intent, memoranda of understandings, and representations (if any) made by and among such parties, and 

  

 7 

 
may not be modified or amended, and no waiver shall be effective, unless by written document signed by both parties hereto. Notwithstanding its foregoing,
the parties agree that the provisions of Section 6 shall be in addition to, and shall not supersede, similar provisions contained in the Stock Purchase Agreement. The Company and Employee have each had an opportunity to consult with counsel of their
choice regarding the terms and conditions of this Agreement, and each understands the consequences of entering into and complying with the terms and conditions of the Agreement. 
  
 18. Pronouns. In this Agreement, the use of any gender shall be deemed to include all genders, and the use of the
singular shall include the plural, wherever it appears appropriate from the context. 
  
 19. Enforcement Costs. If any legal action or other proceeding, including arbitration, is brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default or misrepresentation in
connection with any provisions of this Agreement, the prevailing party or parties shall be entitled to recover reasonable attorneys’ fees, court costs and all expenses even if not taxable as court costs, incurred in that action or proceeding,
in addition to any other relief to which such party or parties may be entitled. 
  
 20. Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions
hereof. Except that to the extent any court determines that Section 6 is invalid or unenforceable, in this event the Company shall be relieved of its payment obligations to Employee under Section 8. 
  
 21. Indemnification. Employee shall be entitled to indemnification, in
has capacity as an officer of the Company in accordance with the provisions of the Company’s certificate of incorporation, bylaws or actions of the Board, as the same shall be in effect from time to time, and Employee shall be entitled to the
protection of any insurance policies the Company may elect to maintain generally for the benefit of its officers or directors. 
  
 22. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original and all of which,
taken together, shall constitute one and the same instrument. 
  
 IN WITNESS
WHEREOF, the parties have executed this Agreement effective as of the day and year first above written. 
  
 
			
	 ECCA Management Services, Ltd.

		
	By:	 	/S/    DAVE MCCOMAS
	 	 	 Dave McComas

	 	 	 Chairman and Chief Executive Officer

   
 
			
	 EMPLOYEE:

	
	/S/    JAMES J. DENNY
	 James J. Denny

   

 8

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