Document:

Registration Rights Agreement

 EXHIBIT 10.2 
 PERFUMANIA HOLDINGS, INC. 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of the 11 day of August, 2008, by and among Perfumania Holdings, Inc. (f/k/a E Com Ventures,
Inc.), a Florida corporation (the “Company”), and each of the shareholders of Model Reorg, Inc., a New York corporation (“Model Reorg”), listed on Schedule A hereto. 
 RECITALS 
 WHEREAS, the Company, Model Reorg Acquisition LLC, a Delaware
limited liability company, Model Reorg and the Shareholders have entered into an Agreement and Plan of Merger dated as of December 21, 2007, as amended July 8, 2008 (the “Merger Agreement”), pursuant to which the Shareholders
will receive, in exchange for their shares of Model Reorg common stock, shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), and Common Stock Purchase Warrants to acquire Common Stock (the
“Warrants”); and 
 WHEREAS, it is a condition of the Merger Agreement that the parties hereto enter into this Agreement providing
for the Company to register the shares of Common Stock issuable to the Shareholders under the Merger Agreement (excluding any Common Stock issued or issuable upon exercise of any of the Warrants) as set forth herein; 
 NOW THEREFORE, the parties hereby agree as follows:  
 1. DEFINITIONS. For purposes of this Agreement: 
 1.1 “Common Stock” means shares of
the Company’s common stock, par value $0.01 per share. 
 1.2 “Company” means Perfumania Holdings, Inc. (VIA E Com Ventures,
Inc.), any successor thereto by operation of law, and any other company whose shares are issued upon conversion of, or whose shares are exchanged for, substantially all of the outstanding shares of Common Stock pursuant to a merger, consolidation or
other recapitalization transaction. 
 1.3 “Damages” means any loss, damage, or liability (joint or several) to which a party
hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, or liability (or any action in respect thereof) arises out of or is based upon (i) any untrue statement or
alleged untrue statement of a material fact contained in any registration statement of the Company filed pursuant hereto, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto;
(ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any
of its agents or affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law based upon, or arising out of, any of such
party’s obligations arising hereunder. 

 1.4 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and
the rules and regulations promulgated thereunder. 
 1.5 “Excluded Registration” means (i) a registration of the sale of
securities to directors, employees or consultants of the Company or a subsidiary pursuant to a bona fide compensatory arrangement; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form that does not
include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; (iv) a registration solely of debt or nonconvertible preferred stock; or (v) a
registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered. 
 1.6 “GAAP” means generally accepted accounting principles in the United States. 
 1.7
“Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, domestic partner, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships, of a natural person referred to herein. 
 1.8 “Majority in Interest” means Shareholders holding a majority
of the Registrable Securities as to which Shareholders have requested inclusion in a registration under Section 2.1. 
 1.9 “Participating Holder” means a holder of Company securities that is described in
clause (a). of Section 2.8 and that, in compliance with Section 2.8, has acquired rights to have such securities registered under the
Securities Act by having them included in a registration statement filed by the Company. 
 1.10 “Person” means any individual,
corporation, partnership, trust, limited liability company, association or other entity. 
 1.11 “Registrable Securities” means
those shares of Common Stock issued pursuant to the Merger Agreement (other than (i) any that have been transferred by a Shareholder in a transaction in which the applicable rights under this Agreement are not assigned pursuant to
Section 3.1, (ii) any for which registration rights have terminated pursuant to Section 2.9, and (iii) any Common Stock issued or issuable upon exercise of any of the Warrants) and all shares of Common Stock or other securities
issued upon conversion or exchange or otherwise in respect thereof, including without limitation pursuant to any stock dividend, stock split, merger, consolidation or other recapitalization transaction. 
 1.12 “Restated Certificate” means the Amended and Restated Certificate of Incorporation of the Company. 
 1.13 “SEC” means the Securities and Exchange Commission. 

 1.14 “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act, as in
effect from time to time. 
 1.15 “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act, as in effect from
time to time. 
 1.16 “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and
regulations promulgated thereunder. 
 1.17 “Selling Expenses” means all underwriting discounts, selling commissions, and stock
transfer taxes applicable to the sale of Registrable Securities, and the fees and expenses of counsel to the selling Shareholders. 
 1.18
“Shareholder” means a shareholder of Model Reorg listed on Schedule A and his, her or its respective successors and other assigns complying with Section 3.1. 
 2. REGISTRATION RIGHTS. The Company covenants and agrees as follows: 
 2.1 Company Registration. Promptly after the Company determines to register (including, for this purpose, a registration by the Company for holders
of Common Stock other than the Shareholders) any of its securities under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall give each Shareholder
written notice of such proposed registration. Upon the request of any Shareholder given within twenty (20) days after such notice, the Company shall, subject to the provisions of Section 2.2, cause to be registered all of the Registrable
Securities that each such Shareholder has requested to be included in such registration, 
 2.2 Underwriting Requirements. 

(a) If the Shareholders intend to distribute the Registrable Securities covered by their registration request by means of an underwriting, they shall
so advise the Company and will select (by a Majority in Interest) such underwriter(s) as shall be reasonably acceptable to the Company. In such event, the right of any Shareholder to include such Shareholder’s Registrable Securities in such
registration shall be conditioned upon such Shareholder’s participation in such underwriting and the inclusion of such Shareholder’s Registrable Securities in the underwriting to the extent provided herein. All Shareholders proposing to
distribute their securities through such underwriting shall (together with the Company as provided in Section 2.3(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. 
 (b) Notwithstanding any other provision of this Section 2.2, if the underwriter(s) referred to in clause (a) advise(s) such Shareholders in
writing that marketing factors require a limitation on the number of shares to be underwritten, the maximum number of Registrable Securities and securities to be registered on behalf of all Participating Holders that may be included in the
underwriting shall be allocated among such Shareholders and Participating Holders in proportion (as nearly as practicable) to the number of Registrable Securities for which each Shareholder and Participating Holder requested registration; provided,
however, that the number of Registrable Securities held by the Shareholders to be included in such underwriting shall not be reduced unless all other securities (other than securities to be sold by the Company and Participating Holders) are first
entirely excluded from the underwriting. 

 (c) For purposes of any apportionment under Section 2.2(b), a Shareholder and any of such
Shareholder’s transferees shall be deemed to be a single “Shareholder,” and any pro rata reduction with respect to such “Shareholder” shall be based upon the aggregate number of Registrable Securities owned by all Persons
included in such “Shareholder,” as defined in this sentence. 
 2.3 Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)
prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective and, upon the request of a Majority in Interest, keep such
registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such 120-day period
shall be extended for a period of time equal to the period the Shareholders refrain, at the written request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration and
(ii) in the case of any registration of Registrable Securities that are intended to be offered on a continuous or delayed basis, such 120-day period shall be extended for up to an additional sixty (60) days, if necessary, to keep the
registration statement effective until all such Registrable Securities are sold; 
 (b) subject to clause (i), prepare and file with the SEC
such amendments and supplements to such registration statement, and the prospectus used in connection with such registration statement, as may be necessary to keep such registration statement effective for the period specified in clause (a) and
to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement; 
 (c)
furnish to the selling Shareholders such numbers of copies of the prospectus, including a preliminary prospectus, included in the registration statement, and such other documents, as the Shareholders may reasonably request in order to facilitate
their disposition of their Registrable Securities; 
 (d) use its commercially reasonable efforts to register and qualify the securities
covered by such registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Shareholders; provided that the Company shall not be required to qualify to do business or to
file a general consent to service of process in any such states or jurisdictions unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 
 (e) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
form, with the underwriter(s) of such offering; 

 (f) promptly make available (subject to reasonable confidentiality requirements) for inspection by the
selling Shareholders, any underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Shareholders, all financial
and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter,
attorney, accountant, or agent, in each case, as necessary or reasonably advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 
 (g) notify each selling Shareholder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared
effective or a supplement to any prospectus forming a part of such registration statement has been filed; 
 (h) after such registration
statement becomes effective, notify each selling Shareholder of any request by the SEC that the Company amend or supplement such registration statement or prospectus; and 
 (i) immediately notify each seller of Registrable Securities and each underwriter under such registration statement, at any time when a prospectus
relating thereto is required to be delivered under the Securities Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and, at the request of a Majority in
Interest, the Company shall promptly prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or
omit to state any material fact necessary to make the statements therein not misleading; provided that the Company may po’stpone for up to ninety (90) days the delivery of any such supplement or amendment if the Company’s Board of
Directors determines in good faith that disclosure of the new information to be contained therein would reasonably be expected to have a material adverse effect on (i) any proposal or plan by the Company or any of its affiliates to engage in
any acquisition of assets (other than in the ordinary course of business) or any merger, consolidation, tender offer, reorganization or similar transaction or (ii) any pending or threatened litigation to which the Company is, or is threatened
to be made, a party; and 
 (j) in the case of an underwritten offering, use its best efforts to furnish, at the request of any Shareholder whose Registrable Securities are included in the registration statement,
on the date on which such Registrable Securities are sold to the underwriter, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to
underwriters in an underwritten public offering, addressed to the underwriters and such Shareholder and (ii) a “comfort” letter dated such date, from the independent certified public accountants of the Company, in form and substance
as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any. 

 2.4 Furnish Information. It shall be a condition precedent to the obligations of the Company to
take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Shareholder that such Shareholder shall furnish to the Company such information regarding such Shareholder, the Registrable Securities held by
such Shareholder, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Shareholder’s Registrable Securities. 
 2.5 Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications
pursuant to this Section 2, including all registration, filing, and qualification fees, printers’ and accounting fees, and fees and disbursements of counsel for the Company, shall be borne and paid by the Company, whether or not any such
registration or qualification becomes effective. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Shareholders pro rata on the basis of the number of Registrable
Securities registered on their behalf. 
 2.6 Withdrawal of Registration. The Company shall have the right to terminate or withdraw
any registration initiated by it before the effective date thereof, whether or not any Shareholder has elected to include Registrable Securities in such registration, without liability of the Company to any holder of Registrable Securities except
for payment of registration expenses as provided in Section 2.5. Any Shareholder may withdraw any Registrable Securities from any registration before the effective date of such registration without liability to the Company or any other holder
of Common Stock except for payment of such Shareholder’s portion of any Selling Expenses incurred with respect to the period before such withdrawal. 
 2.7 Indemnification. If any Registrable Securities are included in a registration statement under this Section 2: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each selling Shareholder, and the partners, members, officers, directors, and shareholders of each such Shareholder, legal counsel for
each such Shareholder, any underwriter (as defined in the Securities Act) for each such Shareholder, and each Person, if any, who controls such Shareholder, underwriter or other Person within the meaning of the Securities Act or the Exchange Act,
against any Damages, and the Company will pay to each such Shareholder, underwriter, controlling Person, or other aforementioned Person any legal fees and other expenses reasonably incurred thereby in connection with investigating or defending any
claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.7(a) shall not apply to amounts paid in settlement of any such claim or proceeding if
such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in
reliance upon and in conformity with written information furnished by or on behalf of any such Shareholder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration. 

 (b) To the extent permitted by law, each selling Shareholder, severally and not jointly, will indemnify
and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel for the Company, any
underwriter (as defined in the Securities Act), any other Shareholder selling securities in such registration statement, and any controlling Person of any such underwriter, other Shareholder or other Person, against any Damages, in each case only to
the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Shareholder expressly for use in connection with such
registration; and each such selling Shareholder will pay to the Company and each other aforementioned Person any legal fees and other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from
which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.7(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is
effected without the consent of the Shareholder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Shareholder by way of indemnity or contribution under Sections 2.7(b)
and 2.7(d) exceed the proceeds from the offering received by such Shareholder (net of any Selling Expenses paid by such Shareholder). 
 (c)
Promptly after receipt by an indemnified party under this Section 2.7 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will,
if a claim in respect thereof is to be made against any indemnifying party under this Section 2.7, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to
the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel reasonably mutually satisfactory to the parties; provided, however,
that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the reasonable fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel
in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action will not relieve such indemnifying party of any liability to the indemnified party under this Section 2.7,
except to the extent, and only to the extent, that such failure actually and materially prejudices the indemnifying party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability
that it may have to any indemnified party otherwise than under this Section 2.7. 
 (d) To provide for just and equitable contribution
to joint liability under the Securities Act in any case in which either (1) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.7 but it is judicially determined (by the
entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact 

 that this Section 2.7 provides for indemnification in such case or (ii) contribution under the Securities Act
may be required on the part of any party hereto for which indemnification is provided under this Section 2.7, then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which
they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that
resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among
other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case, no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall the aggregate amounts payable by any Shareholder by way of indemnity or
contribution under Sections 2.7(b) and 2.7(d) exceed the proceeds from the offering received by such Shareholder (net of any Selling Expenses) paid by such Shareholder). 
 (e) Notwithstanding the foregoing, to the extent that any provision on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering is in
conflict with any of the foregoing provisions, the provision in the underwriting agreement shall control. 
 (f) The obligations of the
Company and Shareholders under this Section 2.7 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement. 
 2.8 Limitations on Subsequent Registration Rights. The Company shall not, without the prior written consent of the holders of a majority of the
Registrable Securities then outstanding, enter into any agreement that would (x) allow any holder or prospective holder of any securities of the Company to include such securities in any registration under the Securities Act or (y) require
the Company to comply with any demand or request by or on behalf of such holder or prospective holder for registration of any securities held by or on behalf of such holder or prospective holder unless (a) such holder or prospective holder is
(i) an institutional investor or financial institution that, with the approval of the Board of Directors of the Company, has provided bona fide debt or equity financing to the Company and/or (ii) a holder of Company securities issued with
the approval of the Board of Directors of the Company as consideration for the acquisition of a business or assets, and such agreement is entered into as a condition of such financing or acquisition and (b) the terms of such agreement allow the
Company to comply with Section 2.1 hereof and require such holder or prospective holder to (i) comply with the underwriting requirements in Section 2.2(a) hereof together with the Shareholders and (ii) include such securities in
any such registration only pro rata with the Registrable Securities in compliance with Section 2.2(b) hereof. The Company represents and warrants that no such rights exist as of the date of this Agreement, except as pursuant to this Agreement.

 2.9 Termination of Registration Rights. The right of any Shareholder to request inclusion of
Registrable Securities in any registration pursuant to Section 2.1 shall terminate on the date that such Shareholder is able to sell, during any three-month period without limitation under Rule 144 of the amount of securities to be sold, all of
the remaining Registrable Securities held by or then issuable to such Shareholder. 
 3. MISCELLANEOUS. 
 3.1 Successors and Assigns. The rights of a Shareholder under this Agreement may be assigned (but only subject to assumption of all related
obligations) by a Shareholder to a transferee of Registrable Securities; provided that the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable
Securities with respect to which such rights are being transferred and such transferee agrees in a written instrument delivered to the Company to assume and be bound by the terms and conditions of this Agreement as a Shareholder hereunder. The terms
and conditions of this Agreement inure to the benefit of and are binding upon the respective heirs, executors, administrators, legal representatives, successors and permitted assignees of the parties. Nothing in this Agreement, express or implied,
is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

 3.2 Governing Law. This Agreement (including any claim or controversy arising out of or relating to this Agreement) shall be
governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles that would result in the application of any law other than the law of the State of New York. 
 3.3 Counterparts. This Agreement may be executed and delivered in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
 3.4 Notices. All notices and other communications given or made
pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (i) when sent, if sent by electronic mail or facsimile during the recipient’s normal business hours, and if not
sent during normal business hours, then on the recipient’s next business day, (ii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iii) one (1) business
day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A
hereto, or in the case of the Company, to the principal office of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 3.4. 
 3.5 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the Shareholders holding a majority of the Registrable Securities then held by all Shareholders; provided 

 that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any
other party. Notwithstanding the foregoing, this Agreement may not be amended or terminated and the observance of any term hereof may not be waived with respect to any Shareholder without the written consent of such Shareholder, unless such
amendment, termination, or waiver applies to all Shareholders in the same fashion. The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment,
termination, or waiver. Any amendment, termination, or waiver effected in accordance with this Section 3.5 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. No waivers of or exceptions to any
term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision. 
 3.6 Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid,
legal, and enforceable to the maximum extent permitted by law. 
 3.7 Entire Agreement. This Agreement constitutes the full and entire
understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled. 
 3.8 Dispute Resolution. The dispute resolution provisions of the Merger Agreement shall apply to all disputes arising hereunder as if set forth in
full herein. 
 3.9 Waiver of Jury Trial. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH
PARTY MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HEREBY
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3.9. 
 3.10 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach
or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any
similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 PERFUMANIA HOLDINGS, INC. 
  

					
	 By:
	 	 /s/    Michael W. Katz

	 Name:
	 	Michael W. Katz
	 Title:
	 	President and CEO
	
	SHAREHOLDERS:
		
		 	 /s/    Glenn Nussdorf

		 	Glenn Nussdorf
		
		 	 /s/    Michael W. Katz

		 	Michael W. Katz, as attorney-in-fact for Stephen Nussdorf
		
		 	 /s/    Arlene Nussdorf

		 	Arlene Nussdorf
		
		 	 /s/    Rene Garcia

		 	Rene Garcia
		
		 	THE JACQUELINE MARIE GARCIA 2006 FAMILY TRUST u/t/a dated October 30, 2006
			
		 	 By:
	 	 /s/    Rene Garcia

		 		 	RENE A. GARCIA, Trustee
			
		 	 By:
	 	 /s/    Rafael Villoldo

		 		 	RAFAEL VILLOLDO, Trustee

			
	 THE CAROLINA MARIE GARCIA 2006
 FAMILY TRUST
u/t/a dated October 30, 2006

		
	By:	 	 /s/    Rene Garcia

		 	RENE A. GARCIA, Trustee
		
	By:	 	 /s/    Rafael Villoldo

		 	RAFAEL VILLOLDO, Trustee
	
	IRREVOCABLE TRUST FOR VICTOR GARCIA u/t/a dated October 30, 2006
		
	By:	 	 /s/    Rene Garcia

		 	RENE A. GARCIA, Trustee
		
	By:	 	 /s/    Rafael Villoldo

		 	RAFAEL VILLOLDO, Trustee

 SCHEDULE A 
 SHAREHOLDERS 
 Glenn Nussdorf 
 Stephen Nussdorf 
 Arlene Nussdorf 
 Rene Garcia 
 The Jacqueline Marie Garcia 2006 Family Trust u/t/a dated October 30, 2006 
 The Carolina Marie Garcia 2006 Family Trust u/t/a dated October 30, 2006 
 Irrevocable Trust for Victor Garcia u/t/a dated October 30, 2006Services Agreement

 EXHIBIT 10.3 
 SERVICES AGREEMENT 
 This
SERVICES AGREEMENT (as same may be supplemented, modified, amended, restated or extended from time to time, the “Agreement”), dated as of August 11, 2008 (the “Effective Date”), between QUALITY
KING DISTRIBUTORS, INC. (“QK”), a corporation organized under the laws of the State of New York, and E COM VENTURES, INC. (“E Com”), a corporation organized under the laws of the State of Florida (each
a “Party” and together, the “Parties”). 
 W I T N E S S E T H: 
 WHEREAS, E Com desires for itself and on behalf of certain of E Com’s wholly-owned subsidiaries (E Com and such subsidiaries being collectively
referred to herein as the “E Com Companies”) to obtain from QK the services set forth below, and QK is willing to provide such services to E Com, each on the terms and conditions of this Agreement; and 
 WHEREAS, QK desires to obtain from E Com certain economic benefits as set forth below, and E Com is willing to share with QK such economic benefits, each
on the terms and conditions of this Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, QK and E Com agree as follows: 
 ARTICLE 1. QK SERVICES 
 1.01 QK shall provide to the E Com Companies the services set forth on Appendix A hereto, as may be amended from time to time, including,
without limitation, to provide for additional future services (the “QK Services”). The term for each QK Service (each, a “Service Term”) shall be determined pursuant to Article 3 below. The QK Services
shall include such reasonably necessary personnel, material, management expertise, and procurement services to furnish and deliver to the E Com Companies the QK Services. Any functions, responsibilities, activities or tasks that are not specifically
described in this Agreement or Appendix A, but are reasonably required for the proper performance and delivery of the QK Services, and are a necessary part of such QK Services, shall be deemed to be implied by and included within the
scope of the QK Services to the same extent and in the same manner as if specifically described in this Agreement. 
 1.02 QK shall work
jointly with the E Com Companies to create a plan for the provision or delivery of the QK Services. During the Term (as defined hereinafter), E Com shall (i) comply with any reasonable requests or instructions provided by QK that are necessary
for QK to adequately provide the QK Services to E Com and (ii) comply with all reasonable standards, policies and procedures applicable to the QK Services. 

 ARTICLE 2. SHARED SERVICE 
 E Com shall, to the extent permitted by UPS, share with QK the economic benefit of the bulk rate contract (which contract provides certain discounts and other benefits for the shipping of merchandise and related items) E Com has with UPS to
ship QK’s merchandise and related items (the “Shared Service”). QK agrees that upon receipt of an invoice from UPS or E Com for the Shared Service, it will remit to UPS the amount payable by QK to UPS or E Com, as the
case may be, in a timely manner. QK acknowledges and agrees that it does not have any claim against any E Com Company for UPS’s provision or non-provision of the Shared Service to QK. 
 ARTICLE 3. ARTICLE 3. TERM AND TERMINATION 
 3.01 The
Service Term for each of the QK Services and the Shared Service shall commence on the Effective Date and shall continue with respect to each such service until such time as either Party notifies the other Party, in writing, that such QK Service or
Shared Service, as the case may be, is no longer being provided or is no longer being purchased. Such notice shall provide that the Service Term for such QK Service or Shared Service, as the case may be, shall terminate no earlier than thirty
(30) days after such written notice (or such earlier date as may be required to comply with any applicable regulatory or third party contractual requirements). The termination of a QK Service or the Shared Service, as the case may be, in no way
affects the Service Terms of the remaining QK Services or Shared Service, as applicable, and the Service Terms for the remaining QK Services or Shared Service, as applicable, shall continue until terminated in accordance with this Section 3.01.

 3.02 The term of this Agreement (the “Term”) shall commence on the Effective Date and shall terminate on the
earlier of (i) the date on which the last of the QK Services and the Shared Service is being provided or being purchased and (ii) thirty (30) days after written notice from one Party to the other Party terminating this Agreement, each
in accordance with Section 3.01 above. The provisions of Articles 4, 6, 7, 8.02, 9, and 10 shall survive termination of this Agreement. 
 ARTICLE 4.
FEES 
 4.01 In consideration of QK providing the QK Services to E Com, E Com shall pay to QK the amounts provided for under Appendix
A hereto, unless otherwise agreed upon in writing by the Parties. All payments for the QK Services are payable within thirty (30) days from date of invoice. The Parties shall also reimburse each other for reasonable out-of-pocket costs and
expenses incurred in connection with performing the QK Services or making available the Shared Service, as the case may be; provided that proper documentation is provided to the reimbursing Party for such costs and expenses. E Com may
withhold payments for (i) amounts in dispute, but only until such disputes are resolved, and (ii) amounts for which appropriate documentation is lacking, but only until such documentation is supplied to E Com. The payments contemplated by
this Article 4 and Article 2 above shall fully compensate the respective Party for the QK Services and the Shared Service, as the case may be, and no further payments shall be due to either Party for the same. 

 4.02 QK shall prepare and maintain complete and accurate books of account and records (including
originals or copies of documents that support entries in the books of account) covering all QK Services and the fees and reimbursements charged by QK to E Com under this Agreement. E Com’s representatives may, from time to time during regular
business hours on reasonable advance notice, during the term of this Agreement and for one year thereafter, audit QK’s books of account and records and examine and copy all documents and materials relating to the QK Services, including
invoices, credits and shipping documents and other information related to the QK Services. Any such audit commenced within such one-year period may continue through completion in the ordinary course. QK’s books of account, records and
documents, including computer records, shall be maintained for at least three years after the fiscal year in which the related QK Services are billed and, if an audit is pending, through the completion of any audit commenced in accordance with the
preceding two sentences (and resolution of any dispute with regard to any payments hereunder). If any audit of QK’s books and records discloses that E Com’s payments were higher than the amount that should have been paid, all payments
required to be made to eliminate the discrepancy, plus interest thereon at the interest rate payable by E Com from time to time under its senior revolving credit facility from the date of overpayment until the date of repayment, shall be made
promptly by QK. 
 ARTICLE 5. FORCE MAJEURE 
 5.01 Neither Party shall be held liable for any delay or failure in performance of any part of this Agreement (other than payment obligations hereunder) from any cause beyond its reasonable control, including, without limitation, acts of
God, acts of civil or military authority, embargoes, epidemics, war, terrorist acts, riots, insurrections, fires, explosions, earthquakes, nuclear accidents, floods, strikes, and power blackouts. Upon the occurrence of a condition described in this
Article 5, the Party whose performance is prevented shall give written notice to the other Party as soon as practicable but in any event within five (5) days of such occurrence, and the Parties shall promptly confer, in good faith, to agree
upon equitable, reasonable action to minimize the impact on both Parties of such conditions. 
 ARTICLE 6. CONFIDENTIALITY 
 6.01 Each Party acknowledges that in the course of performing its obligations hereunder, each Party and its agents, representatives and employees may have
access to non-public information, including trade secrets and information pertaining to the other Party, its business, customers, correspondents, finances, activities, software, systems, strategies or plans, that are proprietary or confidential in
nature (all the foregoing, collectively, “Confidential Information”). The receiving Party shall cause its agents, representatives and employees, and its contractors and subcontractors and their respective agents, to keep all
Confidential Information confidential and none of them shall use or disclose any Confidential Information other than in the performance of their obligations under this Agreement. Moreover, the receiving Party shall reveal Confidential Information
only to its agents, representatives and employees who need to know such Confidential Information in connection with this Agreement. All electronic or hard copies of the Confidential Information are the property of the disclosing Party and shall be
promptly returned to the disclosing Party by the receiving Party upon the earlier of request by the disclosing Party or termination of this Agreement. This provision shall survive the termination of this Agreement. 

 ARTICLE 7. LIMITATION OF LIABILITY; INDEMNIFICATION 
 7.01 Neither QK nor E Com or the E Com Companies shall be liable for, nor will the measure of damages include, any indirect, incidental, special, or
consequential damages or amounts for loss of income, profits, or savings arising out of or relating to its performance under this Agreement. In no event shall the amount of QK’s liability exceed the total amount paid by all of the E Com
Companies to QK pursuant to this Agreement. In no event shall the amount of the E Com Companies’ liability with respect to any QK Service exceed the amount determined pursuant to Appendix A for that service. 
 7.02 Each Party shall indemnify, defend, and hold harmless the other Party, its successors, assigns, parents, subsidiaries and affiliates, and all their
respective directors, officers, employees, and representatives, from and against any and all claims, losses, actions, damages, expenses and all other liabilities, including reasonable attorney’s fees (collectively,
“Losses”), (i) arising from the indemnifying Party’s breach of this Agreement or as a result of the indemnified Party being sued by a third party with respect to a QK Service or the Shared Service, as the case may
be, provided to the indemnified Party by the indemnifying Party (except to the extent such Losses result from the indemnified Party’s gross negligence or willful misconduct), whether direct or indirect and (ii) for any injury to persons
and damage to property caused by the indemnifying Party or its employees, contractors or subcontractors in connection with this Agreement. 
 ARTICLE 8.
EMPLOYEES; EQUIPMENT AND FACILITIES 
 8.01 QK shall have full responsibility to supervise and manage the employees of QK who perform the
QK Services. Such employees shall at all times remain subject to the direction and control of QK, and E Com shall have no liability for the welfare, salaries, fringe benefits, legally required employer contributions and tax obligations of QK’s
employees by virtue of the relationships established under this Agreement. 
 8.02 No equipment or facility of QK used in performing the QK
Services for or subject to use by E Com shall be deemed to be transferred, assigned, conveyed or leased by such performance or use, and QK shall continue to have such title, rights to or interests in such equipment or facility that it enjoyed prior
to entering into this Agreement QK shall continue to maintain, in a manner consistent with past practice, security, maintenance and legally required insurance coverage on such equipment or facility. 
 8.03 QK shall be responsible for ensuring that all QK Services under this Agreement comply with all applicable laws and regulations. 
 ARTICLE 9. DISPUTES 
 9.01 Should there be any dispute
with respect to any provision of this Agreement, the disputing Party shall promptly notify the other Party in writing of the nature and basis of the dispute, and each Party shall negotiate in good faith to resolve the dispute. In the event that the
Parties are unable to resolve the dispute, such dispute shall be submitted and settled by arbitration under the Commercial Arbitration Rules of the American Arbitration Association (the “AAA”). There shall be three neutral
arbitrators, with 

 each Party selecting one arbitrator and the two Party-nominated arbitrators selecting the third neutral arbitrator. If a
Party fails to nominate an arbitrator within 30 days following the commencement of the arbitration proceeding, then the arbitrator nominated by the other Party shall be the sole arbitrator. The proceedings shall be conducted in New York, New York.
Judgment upon the award may be entered in any court having jurisdiction. The arbitrators may award legal fees and other costs to the prevailing Party in the arbitration. 
 ARTICLE 10. MISCELLANEOUS PROVISIONS 
 10.01 Assignment. Neither Party may assign this
Agreement in whole or in part without the written consent of the other Party (which consent shall not be unreasonably withheld or delayed), except this Agreement may be assigned to an affiliate of such Party. This Agreement shall be binding on the
Parties and their respective successors and permitted assigns. 
 10.02 Notices. Except as otherwise specified in this Agreement, all
notices, requests, approvals, consents and other communications required or permitted under this Agreement shall be in writing and shall be deemed given (i) the third day after being sent by registered or certified mail, postage pre-paid,
(ii) the next business day after being sent by a nationally recognized overnight delivery service for next day delivery, (iii) the day received when delivered by hand or (iv) the next business day after being sent by facsimile
transmission, in each case to the applicable address set forth below. 
  

			
	If to Quality King Distributors, Inc.:	  	
		
		  	 35 Sawgrass Drive, Suite 1
 Bellport, New York 11713

 Attention: Alfred R. Paliani, Esq.
 Fax Number:
(631) 439-2262

	If to E Com Ventures, Inc.:	  	
		
		  	 35 Sawgrass Drive, Suite 2
 Bellport, New York 11713

 Attention: Michael Katz
 Fax Number:
(631) 866-4231

 Either Party may change its address or facsimile number for notification purposes by giving the other Party notice
of the new address or facsimile and the date upon which it will become effective in accordance with the provisions of this Section 10.02. 
 10.03 Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one single agreement between the Parties. Counterparts of the signature pages of this Agreement that are
manually signed and delivered by electronic or facsimile transmission shall be deemed to constitute signed original counterparts hereof and shall bind the Parties signing and delivering in such manner. 
 10.04 Relationship. The Parties intend to create an independent contractor relationship and nothing contained in this Agreement shall be construed
to make either QK or any of the E Com Companies partners, joint venturers, principals, agents, or employees of the other. Without limiting the foregoing, the terms of this Agreement are not intended to cause QK or any of the E Com Companies to

 
become joint employers for any purpose. Each of the Parties agrees that the provisions of this Agreement as a whole are not intended to, and do not,
constitute control of the other Party or its subsidiaries or provide it with the ability to control such other Party or its subsidiaries, and each Party hereto expressly disclaims any right or power under this Agreement to exercise any power
whatsoever over the management or policies of the other Party or its subsidiaries. Nothing in this Agreement shall oblige either Party hereto to act in breach of the requirements of any law applicable to it. 
 10.05 Severability. If any provision of this Agreement (other than a term or provision relating to any payment obligation) shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby. 
 10.06 Waiver. No delay or omission by either Party to exercise any right or power it has under this Agreement shall impair or be construed as a waiver of such right or power. A waiver by any Party of any breach
or covenant shall not be construed to be a waiver of any succeeding breach or any other covenant. All waivers or discharges must be in writing and signed by the Party waiving its rights. 
 10.07 Entire Agreement. This Agreement and Appendix A attached hereto, which is hereby incorporated by reference into this Agreement,
represent the entire agreement between the Parties with respect to its subject matter, and supersedes in its entirety all other or prior agreements, whether oral or written, with respect thereto. 
 10.08 Amendments. No amendment to or change of any provision of this Agreement shall be valid unless in writing and signed by an authorized
representative of each Party. 
 10.09 Headings. The section headings contained in this Agreement are solely for the purpose of
reference, are not part of the agreement of the Parties and shall not in any way affect the meaning or interpretation of this Agreement. 
 10.10 Governing Law. This Agreement and the rights and obligations of the Parties shall be construed in accordance with and be governed by the laws of the State of New York, without giving effect to the principles thereof relating to
the conflicts of law, and any actions or claims with respect thereto shall be commenced exclusively in the state courts of the State of New York or in the United States District Court for the Eastern District of New York, and each of the Partners
irrevocably submits to the exclusive jurisdiction of each such court in any proceeding and waives any objection it may now or hereafter have to venue or to convenience of forum. EACH OF THE PARTIES WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. 

 IN WITNESS WHEREOF, QK and E Com have each caused this Agreement to be signed and delivered by its duly
authorized representative. 
  

			
	 QUALITY KING DISTRIBUTORS, INC.:

		
	 By:
	 	 /s/    Mike Anderson

	 Name:
	 	Mike Anderson
	 Title:
	 	Treasurer and Assistant Secretary
	
	 E COM VENTURES INC.:

		
	 By:
	 	 /s/    Michael W. Katz

	 Name:
	 	Michael W. Katz
	 Title:
	 	President and CEO

 Appendix A 
 QK Services 
  

					
	 QK Services
	  	 Description of QK Services
	  	 Fees

	Legal Services	  	Use of QK’s in-house counsel, Alfred R. Paliani, and its paralegal(s).	  	Fees shall be billed at the hourly rate of in-house counsel, which is currently $275 and includes the services of in-house paralegal(s), which the Parties shall adjust from time to time to
give effect to the cost to QK of such services
			
	Payroll and Human Resources Services	  	Use of QK’s benefits and related human resource services for employees of the E Com Companies for which applicable services are provided.	  	 Fees shall be charged on the following basis:
  
 (i) pass-through of actual, per-employee costs for the benefits received by the respective employees plus
  
 (ii) E Com’s proportionate share (based on the relative number of employees of QK and its
affiliates and of the E Com Companies for which applicable services are provided) of (a) the cost to QK for plan-wide third party costs and (b) allocated overhead, plus
  

(iii) with respect to both (i) and (ii), an administrative fee of two percent (2%) of such amounts; provided, however, that such administrative fee shall not
apply to amounts advanced to or on behalf of employees such as wages, withholding taxes, amounts payable to insurers and benefit plan administrators, and the like (except to reimburse outside services providers, insurers and administrators for
service charges and fees).

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