Document:

Security Agreement

 SECURITY AGREEMENT 

This Security Agreement (the “Agreement”) is made and entered into on April 28, 2011, by and between Calpian, Inc.,
a Texas corporation (the “Debtor”), and HD Special- Situations II, LP and its permitted endorsees, transferees and assigns (collectively, the “Secured Party”). 

A. Concurrently herewith, Debtor and the Secured Party have entered into a Note Purchase Agreement (the “Note Purchase
Agreement”). Pursuant to the Note Purchase Agreement, Debtor will issue to the Secured Party one or more 16% Senior Secured Term Notes in the aggregate principal amount of up to $8,000,000 (collectively, the “Notes”).

 B. Debtor now enters into this Agreement with the Secured Party as security for Debtor’s Obligations (as defined below).

 NOW, THEREFORE, in consideration of their respective promises contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Definitions.
Terms used but not otherwise defined in this Agreement that are defined in Division 9 of the Uniform Commercial Code (“UCC”) of the State of Texas (such as “account,” “chattel paper,” “deposit account,”
“document,” “equipment,” “fixtures,” “general intangibles,” “goods,” “instruments,” “inventory,” “investment property,” “proceeds,” and “supporting
obligations”) shall have the respective meanings given such terms in Division 9 of the UCC. Capitalized terms used in this Agreement and not defined elsewhere herein or in the Note Purchase Agreement shall have the meanings set forth below:

 “Collateral” means all of Debtor’s tangible and intangible assets, including, but not limited to, all
of the following: (i) all accounts (which includes, but is not limited to, the Residuals), cash and currency, chattel paper, deposit accounts, documents, equipment, fixtures, general intangibles, instruments, intellectual property, inventory,
investment property, Negotiable Collateral, vehicles, goods, supporting obligations and such other assets of Debtor as may hereafter arise or Debtor may hereafter acquire or as to which the Secured Party may from time-to-time be granted a security
interest, and (ii) the proceeds of any of the foregoing, including, but not limited to, proceeds of insurance covering the foregoing or any portion thereof; provided, however, that notwithstanding anything to the contrary contained in this
Agreement, the Collateral does not include any “hazardous waste” as that term is defined under 42 U.S.C. Section 6903(5), as such section may be from time-to-time amended, or under any regulations thereunder. 

“Debtor’s Books” means and includes all of Debtor’s books and records, including, but not limited to, all
records, ledgers and computer programs, disk or tape files, printouts and other computer-prepared information indicating, summarizing or evidencing the Collateral. 

 “Event of Default” has the meaning specified in Section 7 of this
Agreement. 
 “Negotiable Collateral” means and includes all of Debtor’s presently existing and hereafter
acquired or arising letters of credit, advices of credit, promissory notes, drafts, instruments, documents, leases of personal property and chattel paper, as well as Debtor’s Books relating to any of the foregoing 

“Obligations” means and includes any and all present or future indebtedness and/or obligations of Debtor owing to the
Secured Party under the Notes and the other Transaction Documents, including, without limitation, all interest and other payments required thereunder that are not paid when due, and all of the Secured Party Expenses which Debtor is required to pay
or reimburse by this Agreement, by law, or otherwise. 
 “Permitted Liens” means (i) liens on specific
assets existing on the date hereof and set forth on the attached Exhibit 1, (ii) statutory liens of landlords and liens of carriers, warehousemen, bailees, mechanics, materialmen and other like liens imposed by law, created in the ordinary
course of business and securing amounts not yet due (or which are being contested in good faith by appropriate proceedings or other appropriate actions which are sufficient to prevent imminent foreclosure of such liens), and with respect to which
adequate reserves or other appropriate provisions are being maintained by Debtor in accordance with GAAP, (iii) deposits made (and the liens thereon) in the ordinary course of business of Debtor (including, without limitation, security deposits
for leases, indemnity bonds, surety bonds and appeal bonds) in connection with workers’ compensation, unemployment insurance and other types of social security benefits or to secure the performance of tenders, bids, contracts (other than for
the repayment or guarantee of borrowed money or purchase money obligations), statutory obligations and other similar obligations arising as a result of progress payments under government contracts, (iv) liens for taxes not yet due and payable
or which are being contested in good faith and with respect to which adequate reserves are being maintained by Debtor in accordance with GAAP, (v) liens in favor of the Secured Party under the Transaction Documents, (vi) zoning ordinances,
easements, covenants and other customary restrictions on the use of real property and other title exceptions that do not interfere in any material respect with the ordinary course of business and (vii) liens securing subordinated debt incurred
in accordance with the terms and conditions of the Note Purchase Agreement. 
 “Secured Party Expenses” means
and includes (i) all costs or expenses required to be paid by Debtor under this Agreement that are instead paid or advanced by the Secured Party, including without limitation, all taxes, liens, securities interests, encumbrances or other claims
at any time levied or placed on the Collateral, (ii) all reasonable costs and expenses incurred to correct any default or enforce any provision of this Agreement, or in gaining possession of, maintaining, handling, preserving, storing,
shipping, selling, preparing for sale and/or advertising to sell all or any part of the Collateral, irrespective of whether a sale is consummated, and (iii) all reasonable costs and expenses (including reasonable attorney’s fees) incurred
by the Secured Party in enforcing or defending this Agreement, irrespective of whether suit is brought. 

 2. Construction. Unless the context of this Agreement clearly requires
otherwise, references to the plural include the singular and vice versa, to the part include the whole, “including” is not limiting, and “or” has the inclusive meaning represented by the phrase “and/or.” The words
“hereof,” “herein,” “hereby,” “hereunder,” and similar terms in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement. Section references are to this
Agreement, unless otherwise specified. 
 3. Creation of Security Interest. 

3.1 Grant of Security Interest. In order to secure Debtor’s timely payment of the Obligations and timely performance of each
and all of its covenants and obligations under this Agreement and any other document, instrument or agreement executed by Debtor and/or delivered by Debtor to the Secured Party in connection with the Obligations, Debtor hereby unconditionally and
irrevocably grants, pledges and hypothecates to the Secured Party a continuing first-priority security interest in and to, a lien upon, assignment of, and right of set-off against, all presently existing and hereafter acquired or arising Collateral.
Upon filing of a financing statement naming Debtor as “debtor” and the Secured Party as “secured party” in the filing office of the Secretary of State of the State of Texas, the security interests in the Collateral (other than
money, registered copyrights, deposit accounts or letter-of-credit rights) shall attach thereto without further act on the part of the Secured Party or Debtor. 
 3.2 Rights as to Inventory. Unless an Event of Default under this Agreement has occurred and is continuing, Debtor may, subject to the provisions hereof and consistent herewith, sell its inventory
and enter into licenses with respect to its property, but in each case only in the ordinary course of Debtor’s business. A sale of inventory in Debtor’s ordinary course of business does not include an exchange or a transfer in partial or
total satisfaction of a debt owing by Debtor, nor does it include an exchange for less than the lower of cost or fair market value. For purposes of this Section, the Residuals shall not be considered “inventory.” 

4. Insurance. 
 4.1 General. Debtor shall, at its expense, keep its business and assets (including the Collateral to the extent appropriate) insured against loss or damage by fire, theft, explosion, sprinklers and
all other hazards and risks and in such amounts as are ordinarily insured against by other owners of similar businesses. All such policies of insurance (except those of public liability and property damage) shall contain an endorsement, in a form
satisfactory to the Secured Party, showing the Secured Party as an additional insured or beneficiary thereunder (or include a lender loss contract endorsement payable in favor of the Secured Party). Each such insurer shall agree (by endorsement upon
the policy or policies of insurance issued by it to Debtor or by independent instruments) that it will give the Secured Party at least ten days written notice before any such policy or policies of insurance will be cancelled, and that no act or
default of Debtor, or any other person, shall affect the right of the Secured Party to recover under such policy or policies of insurance or to pay any premium in whole or in part relating thereto. All insurers and insurance coverage shall be
reasonably acceptable to the Secured Party. If Debtor at any time fails to obtain or maintain any insurance 

 
as required under this Agreement, the Secured Party may (but shall not be obligated to) obtain such insurance as it deems appropriate, including if it so chooses “single interest
insurance,” which will cover the Secured Party’s interest in the Collateral for the benefit of the Secured Party. 

4.2 Insurance Reports. Debtor, upon request by the Secured Party, shall furnish to the Secured Party reports on each existing
policy of insurance showing such information as the Secured Party may reasonably request, including the following: (i) the name of the insurer, (ii) the risks insured, (iii) the amount of the policy, (iv) the property insured,
(v) the then-current value on the basis of which insurance has been obtained and the manner of determining that value and (vi) the expiration date of the policy. In addition, Debtor shall upon request by the Secured Party have an
independent appraiser satisfactory to the Secured Party determine, as applicable, the cash value or replacement cost of the Collateral. 
 5. Filings; Further Assurances. 
 5.1 General. The Secured
Party is authorized to file a UCC-1 Financing Statement with the Secretary of State of the State of Texas evidencing its security interest in the Collateral. Debtor also authorizes the filing by the Secured Party of such other UCC financing
statements, continuation financing statements, fixture filings, security agreements, deeds of trust, chattel mortgages, assignments, motor vehicle lien acknowledgments and other documents as the Secured Party may reasonably require in order to
perfect, maintain, protect or enforce the Secured Party’s security interests in the Collateral or any portion thereof and in order to fully consummate all of the transactions contemplated under this Agreement. Subject to the foregoing, if so
requested by the Secured Party at any time hereafter, Debtor shall promptly execute and deliver to the Secured Party such fixture filings, security agreements, deeds of trust, chattel mortgages, assignments, motor vehicle lien acknowledgments and
other documents as the Secured Party may reasonably require from Debtor in order to perfect, maintain, protect or enforce the Secured Party’s rights under this Agreement. Debtor hereby irrevocably makes, constitutes and appoints the Secured
Party as Debtor’s true and lawful attorney with power, upon Debtor’s failure or refusal to promptly comply with its obligations in this Section 5.1, to sign the name of Debtor on any of the above-described documents or on any other
similar documents which need to be executed, recorded and/or filed in order to perfect, maintain, protect or enforce the Secured Party’s security interests in the Collateral. 

5.2 Additional Matters. Without limiting the generality of Section 5.1, Debtor will (i) at the reasonable request of the
Secured Party, appear in and defend any action or proceeding which may affect Debtor’s title to, or the security interests of the Secured Party in, the Collateral and (ii) promptly furnish to the Secured Party, from time-to-time, such
reports in connection with the Collateral as are required by the Note Purchase Agreement. 
 5.3 Accounts and Negotiable
Collateral. In the event that any portion of the Collateral, including proceeds, is evidenced by or consists of accounts and/or Negotiable Collateral, at any time after the occurrence and during the continuance of an Event of Default, Debtor
shall, to the extent permitted by any document comprising Negotiable Collateral, immediately endorse (where appropriate) any such Negotiable Collateral in blank and assign such accounts over to the Secured Party and deliver actual physical
possession of the Negotiable Collateral to the Secured Party in order to perfect fully its security interest therein. 

 5.4 Documentation for Future Residuals. Until the Notes have been paid in full, each
time Debtor or any subsidiary acquires any Future Residuals, Debtor and/or such subsidiary shall deliver to the Secured Party the applicable Future Residuals Security Documents. In each instance, such Future Residuals Security Documents shall be
delivered at such time as is agreed upon by Debtor and the Secured Party. In addition, within three business days after the Secured Party so requests as to any Residuals already owned by Debtor, Debtor shall deliver to the Secured Party such
additional documentation as may be reasonably requested by the Secured Party in order to perfect, protect and/or enforce the Secured Party’s rights with respect to such Residuals. 

6. Representations, Warranties and Agreements. Debtor represents, warrants and agrees as follows: 

6.1 No Other Encumbrances. Debtor has good and marketable title to the Collateral, free and clear of any liens, claims,
encumbrances and rights of any kind except the Permitted Liens. 
 6.2 Right to Inspect Collateral. The Secured Party
shall have the right, during Debtor’s usual business hours and upon reasonable advance notice, to inspect and examine the Collateral. Debtor agrees that any reasonable out-of-pocket expenses (including expenses for appraisals and/or any other
third party reviews) incurred by the Secured Party in connection with this Section 6.2 shall constitute Secured Party Expenses (provided that such expenses shall not exceed $30,000 in the aggregate with respect to inspections conducted while
the Company is not in default hereunder; and provided further that so long as the Company is not in default hereunder, such inspections shall be limited to one per 12-month period). 

6.3 Title to Vehicles and Equipment. Upon the Secured Party’s request, Debtor shall immediately deliver to the Secured Party
any and all evidences of ownership of or title to any vehicles or items of Debtor’s equipment, properly endorsed. 
 6.4
Maintenance of Vehicles and Equipment. Debtor shall keep and maintain its vehicles and equipment in good operating condition and repair, and shall make all necessary replacements thereto, so that the value and operating efficiency thereof
shall at all times be maintained and preserved consistent with reasonable business practices. 
 6.5 Negative Covenants.
Debtor shall not (i) sell, lease or otherwise dispose of, relocate or transfer, any of the Collateral except as provided in Section 3.2 or dispositions of Collateral that is worn out or obsolete, (ii) allow any liens on the Collateral
except the Permitted Liens or (iii) change Debtor’s name or add any new fictitious name without providing the Secured Party with 15 days prior written notice, in each case except to the extent permitted pursuant to the terms of the Note
Purchase Agreement. 
 6.6 Relocation of Principal Place of Business. The principal place of business of Debtor, and the
addresses at which the Collateral is located, are shown on the attached Exhibit 2. Debtor shall not, without at least 30 days prior written notice to the Secured Party, relocate such principal place of business or the Collateral, with no relocation
being permitted outside the United States in any event. 

 6.7 Further Information and Notices. Debtor shall promptly supply the Secured Party
with such information concerning Debtor’s business as the Secured Party may reasonably request from time-to-time hereafter, and shall within three business days of obtaining knowledge thereof, notify the Secured Party of any substantial change
in the Collateral or any material adverse change in the Collateral or Debtor’s financial condition or any event which constitutes an Event of Default. Debtor shall notify the Secured Party promptly after becoming aware of the occurrence of any
default under the Existing Residual Contracts, the Existing Residuals Security Documents, the Future Residual Contracts, the Future Residuals Security Documents or the ISO Agreements. To the extent that a right to cure any such default shall be
available and shall not have expired, the Secured Party shall have the right, but not the obligation, to effect such cure on Debtor’s behalf. All amounts expended by the Secured Party in effecting any such cure shall constitute Secured Party
Expenses. 
 6.8 Solvency. Debtor is now and shall be at all times hereafter able to pay its debts (including trade
debts) as they mature. 
 6.9 Secured Party Expenses. Debtor shall within ten days of written demand from the Secured
Party accompanied by adequate documentation of such expenses, reimburse the Secured Party for all sums expended by the Secured Party which constitute Secured Party Expenses and, in the event that Debtor does not pay any Secured Party Expenses
payable to a third party within ten days after notice thereof, then the Secured Party may immediately and without further notice pay such Secured Party Expenses on Debtor’s behalf. All such expenses shall become a part of the Obligations and,
at the Secured Party’s option, will (i) be payable on demand, (ii) be added to the balance of a Note and be apportioned among and be payable with any installment payments to become due during the remaining term of that Note, or
(iii) be added to the balance of a Note and treated as a balloon payment which will be due and payable at that Note’s maturity. This Agreement shall secure payment of the Secured Party Expenses and, in the event Borrower fails to pay any
Secured Party Expenses after demand as described above, Debtor shall also pay to the Secured Party interest thereon at the default Rate (as provided in a Note). 
 6.10 Reliance by the Secured Party; Representations Cumulative. Each representation, warranty and agreement contained in this Agreement shall be conclusively presumed to have been relied on by the
Secured Party regardless of any investigation made or information possessed by the Secured Party. The representations, warranties and agreements set forth herein shall be cumulative and in addition to any and all other representations, warranties
and agreements which Debtor shall now or hereafter give, or cause to be given, to the Secured Party. 
 6.11 Permitted
Actions with Respect to the Collateral. Debtor hereby makes, constitutes and appoints the Secured Party (and any of the Secured Party’s designated officers, employees or agents) as its true and lawful attorney-in-fact, with full power of
substitution, with power to sign its name and to take any of the following actions, in its name or the name of the Secured Party, as the Secured Party may determine, without notice to Debtor and at Debtor’s expense (provided, however, that the
actions in paragraphs (c) through (h) below may be taken only if an Event of Default has occurred and is continuing): 

(a) verify the validity and amount of, or any other matter relating to, the Collateral by mail, telephone, telecopy or otherwise;

 (b) notify all account debtors that Debtor’s accounts have been assigned to the Secured
Party and that the Secured Party has security interests therein; 
 (c) direct all account debtors to make payment on all
Debtor’s accounts directly to the Secured Party and forward invoices directly to such account debtors; 
 (d) take control
in any manner of any cash or non-cash items of payment or proceeds of Debtor’s accounts; 
 (e) notify the United States
Postal Service to change the address for delivery of mail addressed to Debtor to such address as the Secured Party may designate; 
 (f) have access to any lockbox or postal boxes into which Debtor’s mail is deposited and receive, open and dispose of all mail addressed to Debtor; 

(g) enforce payment of and collect Debtor’s accounts, by legal proceedings or otherwise, and for such purpose the Secured Party may
(i) demand payment of any accounts or direct any account debtors to make payment of any accounts directly to the Secured Party, (ii) receive and collect all monies due or to become due to Debtor, (iii) exercise all of Debtor’s
rights and remedies with respect to the collection of any accounts, (iv) settle, adjust, compromise, extend, renew, discharge or release any accounts, (v) sell or assign any accounts on such terms, for such amount and at such times as the
Secured Party deems advisable, (vi) prepare, file and sign Debtor’s name or names on any proof of claim or similar document in any proceeding under federal or state bankruptcy, insolvency, reorganization or other similar law as to any
account debtor, (vii) prepare, file and sign Debtor’s name on any notice of lien, claim of mechanic’s lien, assignment or satisfaction of lien or mechanic’s lien or similar document in connection with the Collateral,
(viii) sign Debtor’s name on verifications of accounts and notices thereof sent by account debtors to Debtor and (ix) take all other actions necessary or desirable to protect Debtor’s or the Secured Party’s interest in the
Collateral; and 
 (h) endorse Debtor’s name on any chattel papers, documents, instruments, invoices, freight bills, bills
of lading or similar documents or agreements or upon any checks or other media of payment or evidences of a security interest that may come into the Secured Party’s possession. 

Debtor hereby ratifies and approves all acts of said attorneys-in-fact and agrees that said attorneys-in fact shall not be liable for any
acts of commission or omission, nor for any error of judgment or mistake of fact or law, except gross negligence or willful misconduct. Debtor agrees that this power of attorney, being coupled with an interest, is irrevocable. Debtor agrees to
assist the Secured Party in the collection and enforcement of Debtor’s accounts and not to hinder, delay or impede the Secured Party with respect to the Secured Party’s collection or enforcement efforts. 

 6.12 Certain Costs and Expenses. 

(a) Debtor agrees to pay on demand all costs and expenses incurred by the Secured Party in connection with its security interest in the
Collateral, including, but not limited to, the following (all of which shall be included as Secured Party Expenses): 
 (i) all
reasonable out-of-pocket costs and expenses in connection with the post-Effective Date preparation, review, negotiation, execution, delivery and/or administration of this Agreement, the Collateral Assignment, the DACAs, the Existing Residuals
Security Documents, the Future Residuals Security Documents and any documents to be delivered in connection herewith or therewith (collectively, the “Security Documents”), or any amendments, extensions and/or increases thereto
(including, without limitation, attorney’s fees and expenses, and the cost of appraisals and reappraisals of the Collateral), and the cost of periodic lien searches and tax clearance certificates, as the Secured Party deems advisable;

 (ii) all losses, and reasonable out-of-pocket costs and expenses in connection with the enforcement, protection and
preservation of the Secured Party’s rights or remedies under the Security Documents or any other Transaction Document, or in connection with legal advice relating to the rights or responsibilities of the Secured Party (including, without
limitation court costs, attorney’s fees and expenses of accountants and appraisers); and 
 (iii) any and all stamp and
other taxes payable or determined to be payable in connection with the execution and delivery of the Transaction Documents. 

(b) In the event Debtor shall fail to pay any taxes, insurance, assessments, costs or expenses which it is required to pay hereunder, or
fails to keep the Collateral free from security interests or liens (except as expressly permitted herein), or fails to maintain or repair the Collateral as required hereby, or otherwise breaches any obligation under the Security Documents or any
other Transaction Document, the Secured Party, in its discretion, may make expenditures for such purposes and the same shall be included as Secured Party Expenses. 
 7. Events of Default. The occurrence of any Event of Default under any Note, after the expiration of any applicable grace or cure period, shall constitute an “Event of Default” by
Debtor under this Agreement. 
 8. Rights and Remedies. 

8.1 Rights and Remedies of the Secured Party. 
 (a) Upon the occurrence and during the continuance of an Event of Default, without notice of election and without demand, the Secured Party may cause any one or more of the following to occur, all of
which are authorized by Debtor: 
 (i) The Secured Party may make such payments and do such acts as it considers necessary or
reasonable to protect its security interests in the Collateral. Debtor agrees to assemble and make available the Collateral if the Secured Party so requires. 

 (ii) Debtor authorizes the Secured Party to enter the premises where the Collateral is
located, take and maintain possession of the Collateral, or any part thereof, and pay, purchase, contest or compromise any encumbrance, claim, right or lien which, in the opinion of the Secured Party, appears to be prior or superior to its security
interest in violation of this Agreement, and to pay all expenses incurred in connection therewith. 
 (iii) The Secured Party
shall be automatically deemed to be granted a license or other right to use, without charge, Debtor’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names, trademarks and advertising matter, and any other property
of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale and selling any Collateral. 
 (iv) The Secured Party may ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale and sell (in the manner provided for herein) the Collateral. 

(v) The Secured Party may sell the Collateral at either a public or private sale, or both, by way of one or more contracts or
transactions, for cash or on terms, in such manner and at such places (including Debtor’s premises) as is commercially reasonable (it not being necessary that the Collateral be present at any such sale). 

(vi) The Secured Party shall be entitled to give notice of the disposition of the Collateral as follows: (A) the Secured Party
shall give Debtor a notice in writing of the time and place of public sale, or, if the sale is a private sale or some other disposition other than a public sale is to be made of the Collateral, the time on or after which the private sale or other
disposition is to be made, (B) the notice shall be personally delivered or mailed, postage prepaid, to Debtor at least ten calendar days before the date fixed for the sale, or at least ten calendar days before the date on or after which the
private sale or other disposition is to be made, unless the Collateral is perishable or threatens to decline speedily in value and (C) if the sale is to be a public sale, the Secured Party shall also give notice of the time and place by
publishing a notice at least twice, the first at least 20 calendar days before the date of the sale, in a newspaper of general circulation, if one exists, in the county in which the sale is to be held. 

(vii) The Secured Party may credit bid and purchase all or any portion of the Collateral at any public sale. 

(viii) To the extent permitted by applicable law, the Secured Party shall have the following rights and remedies regarding the
appointment of a receiver: (i) the Secured Party may have a receiver appointed as a matter of right, (ii) the receiver may be an employee of the Secured Party and may serve without bond and (iii) all fees of the receiver and his or
her attorney shall be Secured Party Expenses become part of the Obligations and shall be payable on demand, with interest at the Rate specified in the Notes from the date of expenditure until repaid. 

(ix) The Secured Party, either itself or through a receiver, may collect the payments, rents, income, and revenues from the Collateral
(including the Residuals). 

 (x) The Secured Party may at any time, in its reasonable discretion, transfer any
Collateral (including the Residuals) into its own name or that of its nominee and receive the payments, rents, income, and revenues therefrom and hold the same as security for the Obligations or apply it to payment of the Obligations in such order
of preference as the Secured Party may determine. Insofar as the Collateral consists of accounts, general intangibles, insurance policies, instruments, chattel paper, choses in action, Residuals or similar property, the Secured Party may demand,
collect, receipt for, settle, compromise, adjust, sue for, foreclose, or realize on the Collateral as the Secured Party may determine. For these purposes, the Secured Party may, on behalf of and in the name of Debtor, receive, open and dispose of
mail addressed to Debtor; change any address to which mail and payments are to be sent; and endorse notes, checks, drafts, money orders, documents of title, instruments and items pertaining to payment, shipment, or storage of any Collateral
(including the Residuals). To facilitate collection, the Secured Party may notify account debtors and obligors on any Collateral (including the Residuals) to make payments directly to the Secured Party. 

(b) The Secured Party may deduct from the proceeds of any sale of the Collateral all Secured Party Expenses incurred in connection with
the enforcement and exercise of any of the rights and remedies of the Secured Party provided for herein, irrespective of whether suit is commenced. If such deduction does not occur (in the Secured Party’s reasonable discretion), upon demand,
Debtor shall pay all of such Secured Party Expenses. Any deficiency which exists after disposition of the Collateral as provided herein will be paid immediately by Debtor, and any excess that exists will be returned, without interest and subject to
the rights of third parties, to Debtor by the Secured Party. 
 8.2 Rights and Remedies Cumulative. The rights and
remedies of the Secured Party under this Agreement and any other agreements and documents delivered and/or executed in connection with the Obligations shall be cumulative. The Secured Party shall also have all other rights and remedies not
inconsistent herewith as are provided under applicable law, or in equity. No exercise by the Secured Party of any one right or remedy shall be deemed an election, and no delay by the Secured Party shall constitute a waiver, election or acquiescence.

 9. Additional Waivers. The Secured Party shall not in any way or manner be liable or responsible for
(i) the safekeeping of the Collateral, (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause, (iii) any diminution in the value thereof or (iv) any act or default of any carrier,
warehouseman, bailee, forwarding agency or other person whomsoever. If the Secured Party at any time has possession of any Collateral, whether before or after an Event of Default, the Secured Party shall be deemed to have exercised reasonable care
in the custody and preservation of the Collateral if the Secured Party takes such action for that purpose as Debtor shall request or as the Secured Party, in the Secured Party’s reasonable discretion, shall deem appropriate under the
circumstances, but failure to honor any request by Debtor shall not of itself be deemed to be a failure to exercise reasonable care. The Secured Party shall not be required to take any steps necessary to preserve any rights in the Collateral against
prior parties, nor to protect, preserve, or maintain any security interest given to secure the Obligations. 

10. Notices. All notices or demands by either party relating to this Agreement shall be made in writing as
provided in Section 8(f) of the Note Purchase Agreement. 

 11. Choice of Law. The validity of this Agreement, its construction,
interpretation and enforcement, and the rights of the parties hereunder and concerning the Collateral, shall be determined under, governed by, and construed in accordance with the laws of the State of California as applied to contracts made and to
be fully performed in such state, without regard to the conflicts of laws provisions thereof, except to the extent that the validity, perfection or enforcement of a security interest hereunder in respect of any Collateral is governed by the laws of
the State of Texas, in which case such laws shall govern. 
 12. Waiver of Jury Trial. THE PARTIES EACH WAIVE, TO
THE EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT. 
 13.
General Provisions. 
 13.1 Effectiveness. This Agreement shall be binding and deemed effective when
executed by Debtor and the Secured Party. 
 13.2 Successors and Assigns. This Agreement shall bind and inure to the
benefit of the successors and permitted endorsees, transferees and assigns of the Secured Party. Debtor shall not assign this Agreement or any rights or obligations hereunder, and any such assignment shall be absolutely void. 

13.3 Section Headings. Section headings are for convenience only. 

13.4 Interpretation. No uncertainty or ambiguity herein shall be construed or resolved against the Secured Party or Debtor,
whether under any rule of construction or otherwise. This Agreement shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the parties. 

13.5 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement
for the purpose of determining the legal enforceability of any specific provision. 
 13.6 Entire Agreement; Amendments.
This Agreement and the documents referenced herein contain the entire understanding of the parties with respect to the matters covered herein and supercede all prior agreements, negotiations and understandings, written or oral, with respect to such
subject matter. No provision of this Agreement shall be waived or amended other than by an instrument in writing signed by Debtor and the Secured Party. 
 13.7 Good Faith. The parties intend and agree that their respective rights, duties, powers, liabilities and obligations shall be performed, carried out, discharged and exercised reasonably and in
good faith. 
 13.8 Waiver and Consent. The Secured Party shall not be deemed to have waived any rights under this
Agreement unless such waiver is given in writing. No delay or omission on the part of the Secured Party in exercising any right shall operate as a waiver of such right or any other right. A waiver by the Secured Party of a provision of this
Agreement shall not prejudice or constitute a waiver of the Secured Party’s right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by the Secured Party, nor any course of
dealing between the Secured Party and Debtor, shall constitute a waiver of any of the Secured Party’s rights or of any of Debtor’s obligations as to any future 

 
transactions. Whenever the consent of the Secured Party is required under this Agreement, the granting of such consent by the Secured Party in any instance shall not constitute continuing consent
to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the reasonable discretion of the Secured Party. 
 13.9 Counterparts. This Agreement may be executed in any number of counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken
together, shall constitute but one and the same agreement. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be duly executed by their respective authorized persons on the date first written above. 
  

			
	The Debtor:
	
	CALPIAN, INC.
		
	By:	 	/s/ Harold Montgomery, Chief Executive Officer
		
	By:	 	/s/ Harold Montgomery, Secretary

  

					
		 	The Secured Party:
		
		 	HD SPECIAL-SITUATIONS II, LP
			
		 	By:	 	Hunting Dog Capital II, LLC
		 	Its:	 	General Partner
			
		 	By:	 	/s/ Todd Blankfort, Managing Member

 EXHIBIT 1 
 Permitted Liens 
 Subject to subordination
agreements executed in favor of the Secured Party, indebtedness incurred by the Company under the $1,550,000 in aggregate principal amount of SECURED SUBORDINATED PROMISSORY NOTE(S) issued pursuant to the $3 Million Subordinated Debt Offering and
the $2 Million Subordinated Debt Offering, each with an initial closing of December 31, 2010, is secured as follows: 

“...first priority lien and security interest in, to and under all of the following assets of the Company (collectively, the
“Collateral”): 
 (a) all accounts, accounts receivable, contract rights, general intangibles, chattel paper,
notes, drafts, acceptances, and all other debts, obligations and liabilities in whatever form owing to Company from any person, firm, corporation or other legal entity whether now existing or hereafter arising or acquired; 

(b) all now owned or hereafter acquired and wherever located goods, merchandise and other personal property which are held for sale or
lease or to be furnished under contracts of service or held as raw materials, work in process or finished goods and supplies or materials used or consumed in Company’s business or used in connection with the manufacture, packing, shipping,
advertising or furnishing of such goods; 
 (c) all now existing or hereafter acquired machinery, equipment, furniture and
fixtures, including spare parts, replacements, substitutions, additions or accessions thereto, wherever located; 
 (d) all
documents, policies and certificates of insurance and chooses in action, whether now or hereafter existing; 

 (e) all instruments, securities and cash owned by Company or in which Company has an
interest, which now or hereafter are at any time in possession or control of Lender or in transit by mail or carrier to or from Lender or in the possession of any third party acting on Lender’s behalf, without regard to whether Lender received
the same in pledge, for safekeeping, as agent for collection or transmission or otherwise or whether Lender has conditionally released the same; 
 (f) all books, records, ledger sheets and other records relating to the foregoing; 

(g) all customer lists, purchase orders, contract rights, trademarks, trade names, copyrights, patents, processes, and all applications
therefor, know-how, trade secrets, confidential information, goodwill, assumed names, and all other intellectual property; and 

(h) all proceeds, products, offspring, rents and profits of the foregoing, including, without limitation, proceeds of insurance.”

 EXHIBIT 2 
 Location of Principal Place of Business and Collateral 
 Principal Place of
Business: 
 500 N. Akard, Suite 2850 
 Dallas, TX 75201 
 Location of Collateral: 

500 N. Akard, Suite 2850 
 Dallas, TX 75201Share and Voting Agremement

 Exhibit 10.1 
 EXECUTION VERSION 
 SHARE AND VOTING AGREEMENT 

This SHARE AND VOTING AGREEMENT (this “Agreement”), is dated as of May 2, 2011, by and among PPR S.A., a
“société anonyme à conseil d’administration” (a corporation with a board of directors) organized under the laws of France (“Parent”), TRANSFER HOLDING, INC., a Delaware corporation and a
direct or indirect wholly-owned subsidiary of Parent (“Purchaser”), Richard R. Woolcott and René R. Woolcott in their capacity as stockholders of the Company (collectively, the “Stockholders” and each
individually, a “Stockholder”). 
 W I T N E S S E T H 

WHEREAS, Parent, Purchaser and Volcom, Inc., a Delaware corporation (the “Company”), have, immediately prior to the
execution of this Agreement, entered into an Agreement and Plan of Merger, dated as of the date of this Agreement (as it may be amended from time to time in accordance with its terms, the “Merger Agreement”), providing for, among
other things, Purchaser to commence a cash tender offer (the “Offer”) to acquire all of the outstanding shares of common stock, par value $0.001 per share of the Company (the “Common Stock”), followed by the
subsequent merger of Purchaser with and into the Company with the Company surviving the merger as a wholly owned subsidiary of Parent, in each case, on the terms and subject to the conditions set forth in the Merger Agreement (capitalized terms used
herein and not otherwise defined shall have the meanings ascribed to such terms in the Merger Agreement); and 
 WHEREAS, as of
the date hereof, each Stockholder is the beneficial owner of the number of shares of Common Stock set forth opposite the name of such Stockholder on Schedule 1 hereto (such shares, together with any shares of Common Stock or other voting
capital stock of the Company acquired by such Stockholder after the execution of this Agreement, the “Owned Shares”); and 
 WHEREAS, as a condition to Parent’s and Purchaser’s willingness to enter into and perform its obligations under the Merger Agreement, Parent and Purchaser have required that each Stockholder
agree, and each Stockholder has agreed, (i) to tender into the Offer (and not withdraw) all of such Stockholder’s Owned Shares, whether upon the exercise of options, conversion of convertible securities or otherwise and any other voting
securities of the Company (whether acquired prior to or after the execution of this Agreement) that are beneficially owned by such Stockholder or over which such Stockholder has, directly or indirectly, the right to vote (collectively, the
“Voting Shares”); (ii) that in the event that a vote of the Company’s stockholders is required in furtherance of the Merger Agreement or the transactions contemplated thereby, including the Merger, each Stockholder shall
vote all of his Voting Shares in favor of any such proposal; and (iii) to take the other actions described in this Agreement; and 
 WHEREAS, each Stockholder desires to express his support for the Merger Agreement and the transactions contemplated thereby, including the Offer and the Merger. 

 NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration given to each party hereto, the receipt of which is hereby acknowledged, the parties agree as follows: 
 1.
Agreement to Tender and Vote; Irrevocable Proxy. 
 1.1. Agreement to Tender. 

(a) As promptly as practicable after the commencement of the Offer, and in any event no later than the 10th business day following the commencement of the Offer, each
Stockholder shall irrevocably and unconditionally tender into the Offer all of the Owned Shares owned by such Stockholder on or prior to the 10th business day following the commencement of the Offer, free and clear of all Liens that would prevent such Stockholder
from tendering his shares in accordance with this Agreement or otherwise complying with his obligations under this Agreement. If such Stockholder acquires any Owned Shares after the 10th business day following the commencement of the Offer (including during a subsequent offering period, if any), such
Stockholder shall irrevocably and unconditionally tender into the Offer such Owned Shares on the same date that he acquires such Owned Shares. 
 (b) Each Stockholder agrees that once Owned Shares are tendered into the Offer, he shall not, and shall not be permitted to, withdraw the tender of such Owned Shares previously tendered unless the Offer
has been terminated or has expired, in each case, in accordance with the terms of the Merger Agreement, or this Agreement has been terminated in accordance with Section 5.1. Each Stockholder shall not, and shall not be permitted to, tender, or
cause to be tendered, his Owned Shares into any tender offer or exchange offer other than the Offer. 
 1.2. Agreement to
Vote. During the term of this Agreement, at any meeting of the stockholders of the Company, however called, or any adjournment or postponement of such meeting, each Stockholder shall be present (in person or by proxy) and vote (or cause to be
voted) all of his Voting Shares (to the extent not purchased in the Offer) (a) in favor of adoption and approval of (i) the Merger Agreement and all the transactions contemplated by the Merger Agreement, including the Merger, and
(ii) any other matter that is required to facilitate the consummation of the transactions contemplated by the Merger Agreement and in connection with the Merger Agreement, including the execution of any documents which are necessary or
appropriate in order to effectuate the foregoing; and (b) against (i) any Competing Proposal and any agreement or arrangement related to any Competing Proposal and (ii) any action or agreement (other than an adjournment of the
stockholders meeting of the Company which is recommended by the Company Board of Directors in accordance with the terms of the Merger Agreement) that would be reasonably expected to impair the ability of Parent and Purchaser to complete the Offer or
the Merger or the ability of the Company to consummate the Merger or that would otherwise be inconsistent with, or reasonably be expected to prevent, impede or delay, the consummation of the transactions contemplated by the Merger Agreement. The
obligations of the Stockholder specified in this Section 1.2 shall apply whether or not the Offer, the Merger or any action described above is recommended by the Company Board of Directors (or any committee thereof). 

  
 -2-

 1.3. Irrevocable Proxy. 

(a) Each Stockholder hereby irrevocably grants to, and appoints, Parent and any designee of Parent and each of Parent’s officers, as
such Stockholder’s attorney, agent and proxy with full power of substitution and resubstitution, to the full extent of such Stockholder’s voting rights with respect to the Voting Shares, to vote all the Voting Shares or grant a consent or
approval, at any meeting of the stockholders of the Company and in any action by written consent of the stockholders of the Company on the matters described in Section 1.2, and in accordance therewith. THIS PROXY AND POWER OF ATTORNEY ARE
IRREVOCABLE AND COUPLED WITH AN INTEREST SUFFICIENT IN LAW TO SUPPORT AN IRREVOCABLE PROXY AND, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, SHALL BE VALID AND BINDING ON ANY PERSON TO WHOM STOCKHOLDER MAY TRANSFER ANY SHARES. 

(b) Each Stockholder revokes all other proxies and powers of attorney, with respect to all of the Voting Shares that may have heretofore
been appointed or granted with respect to any matters covered by Section 1.2, and no subsequent proxy (whether revocable or irrevocable) or power of attorney shall be given by the Stockholders, except as required by any letter of transmittal in
connection with the Offer. 
 (c) Each Stockholder shall execute any further agreement or form reasonably necessary or
appropriate to confirm and effectuate the grant of the proxy contained herein. 
 (d) Any such proxy or power of attorney
granted pursuant to this Section 1.3 shall automatically terminate upon the valid termination of this Agreement in accordance with Section 5.1. 
 (e) Notwithstanding the foregoing, each Stockholder shall retain at all times the right to vote such Stockholder’s Voting Shares in such Stockholder’s sole discretion and without any other
limitation on those matters other than those set forth in Section 1.2 that are at any time or from time to time presented for consideration to the Company’s stockholders generally. 

2. Representations and Warranties. Each Stockholder hereby represents and warrants to Parent and Purchaser as follows: 

2.1. Power; Due Authorization; Binding Agreement. Each Stockholder has full legal capacity, power and authority to execute and
deliver this Agreement, to perform his obligations under this Agreement and to consummate the transactions contemplated by this Agreement. This Agreement has been duly and validly executed and delivered by such Stockholder and, except for withdrawal
rights that may be required by U.S. federal securities laws, constitutes a valid and binding agreement of such Stockholder, enforceable against him in accordance with its terms. 

2.2. Ownership of Shares. On the date of this Agreement, the shares of Common Stock set forth opposite each Stockholder’s
name on Schedule 1 are owned beneficially by such Stockholder and include all of the shares of Common Stock owned beneficially by such Stockholder, free and clear of any Liens that would prevent such

  
 -3-

 
Stockholder from tendering his shares in accordance with this Agreement or complying with his other obligations under this Agreement. As of the date of this Agreement, each Stockholder has and,
as of immediately prior to the expiration of the Offer, each Stockholder will have sole voting and dispositive power with respect to the Owned Shares and will be entitled to dispose of the Owned Shares. 

2.3. No Conflicts. The execution and delivery of this Agreement by each Stockholder does not, and the performance of the terms of
this Agreement by such Stockholder will not, (a) require such Stockholder to obtain the consent or approval of, or make any filing with or notification to, any Governmental Entity (other than a filing on Schedule 13D), (b) require the
consent or approval of any other Person pursuant to any agreement, obligation or instrument binding on such Stockholder or his properties or assets, (c) except for withdrawal rights that may be required by the U.S. federal securities laws,
conflict with or violate any law, rule, regulation, order, judgment or decree applicable to such Stockholder or pursuant to which any of his properties or assets are bound or (d) violate any other agreement to which such Stockholder is a party,
including any voting agreement, stockholders agreement, irrevocable proxy or voting trust. The Voting Shares are not, with respect to the voting or transfer thereof, subject to any other agreement, including any voting agreement, stockholders
agreement, irrevocable proxy or voting trust. 
 2.4. Acknowledgment. Each Stockholder understands and acknowledges
that each of Parent and Purchaser is entering into the Merger Agreement in reliance upon the such Stockholder’s execution, delivery and performance of this Agreement. 
 3. Representations and Warranties of Parent and Purchaser. Each of Parent and Purchaser hereby represents and warrants to the Stockholders as follows: 

3.1. Power; Due Authorization; Binding Agreement. Parent and Purchaser are each corporations duly organized, validly existing and
in good standing under the laws of their jurisdiction of organization. Parent and Purchaser have full corporate power and authority to execute and deliver this Agreement, to perform their obligations under this Agreement and to consummate the
transactions contemplated by this Agreement. The execution and delivery of this Agreement and the consummation by Parent and Purchaser of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary
corporate action on the part of Parent and Purchaser, and no other proceedings on the part of Parent and Purchaser are necessary to authorize this Agreement or to consummate the transactions contemplated by this Agreement. This Agreement has been
duly and validly executed and delivered by Parent and Purchaser and constitutes a valid and binding agreement of Parent and Purchaser. 
 3.2. No Conflicts. The execution and delivery of this Agreement by Parent and Purchaser do not, and the performance of the terms of this Agreement by Parent and Purchaser will not, (a) require
Parent and Purchaser to obtain the consent or approval of, or make any filing with or notification to, any Governmental Entity (other than a filing on Schedule 13D), (b) require the consent or approval of any other Person pursuant to any
agreement, obligation or instrument binding on Parent and Purchaser or its properties or assets, (c) except as may otherwise be required by federal securities laws, conflict with or violate any law, rule, regulation, order, judgment or decree
applicable to Parent and Purchaser or pursuant to which any of its or 

  
 -4-

 
its Subsidiaries’ respective assets are bound or (d) violate any other material agreement to which Parent and Purchaser or any of its Subsidiaries is a party. 

4. Certain Covenants of the Stockholders. Each Stockholder hereby covenants and agrees with Parent and Purchaser as follows:

 4.1. Restriction on Transfer. From the date of this Agreement and until the termination of this Agreement in
accordance with Section 5.1, except as expressly contemplated by Section 1, each Stockholder shall not, directly or indirectly, (i) sell, transfer, pledge, encumber, assign or otherwise dispose of, or enter into any contract, option
or other arrangement or understanding with respect to the sale, transfer, pledge, encumbrance, assignment or other disposition of, or limitation on the voting rights of, any of the Voting Shares (any such action, a “Transfer”);
provided that nothing in this Agreement shall prohibit the exercise by such Stockholder of any options to purchase Voting Shares, (ii) grant any proxies or powers of attorney with respect to any Voting Shares, deposit any Voting Shares
into a voting trust or enter into a voting agreement with respect to any Voting Shares, (iii) take any action that would cause any representation or warranty of such Stockholder contained herein to become untrue or incorrect, in each case, in
any material respect, or would reasonably be expected to have the effect of preventing or disabling such Stockholder from performing his obligations under this Agreement or (iv) commit or agree to take any of the foregoing actions. Any action
taken in violation of the foregoing sentence shall be null and void ab initio. Notwithstanding the foregoing, each Stockholder may make Transfers of Voting Shares by will, for estate or tax planning purposes, for charitable purposes or as
charitable gifts or donations; provided, that, each transferee agrees in writing to be bound by the terms of this Agreement applicable to such Stockholder and to hold such Voting Shares subject to all the terms and provisions of this Agreement to
the same extent as such terms and provisions bound the Stockholder from whom the Voting Shares were Transferred. If any involuntary Transfer of any of the Voting Shares shall occur, the transferee (which term, as used herein, shall include the
initial transferee and any and all subsequent transferees of the initial transferee) shall take and hold such Voting Shares subject to all of the restrictions, liabilities and rights under this Agreement, which shall continue in full force and
effect until the valid termination of this Agreement. 
 4.2. Additional Shares. Each Stockholder hereby agrees,
during the term of this Agreement, to promptly notify Parent and Purchaser of any new Voting Shares acquired by such Stockholder, if any, after the execution of this Agreement. Any such shares shall be subject to the terms of this Agreement as
though owned by the Stockholders on the date of this Agreement. In the event of a stock split, stock dividend or distribution, or any change in the Company Common Stock by reason of any split-up, reverse stock split, recapitalization, combination,
reclassification, reincorporation, exchange of shares or the like, the terms “Owned Shares” and “Voting Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions and any
securities into which or for which any or all of such shares may be changed or exchanged or which are received in such transaction. 
 4.3. Stockholder Capacity. Each Stockholder is entering into this Agreement solely in his capacity as the beneficial owner of the Owned Shares and not in his capacity as a director or officer of
the Company. Nothing herein shall limit or affect any actions taken by each Stockholder in his capacity as a director or officer of the Company. 

  
 -5-

 4.4. No Solicitation. Each Stockholder is aware of the obligations and commitments of
the Company and its officers, directors and other Representatives under Section 5.2 of the Merger Agreement. 
 4.5.
Dissenter’s Rights. Each Stockholder agrees not to exercise, nor to cause the exercise of, any dissenter’s right in respect of the Voting Shares which may arise with respect to the Merger. 

4.6. Documentation and Information. Each Stockholder (i) consents to and authorizes the publication and disclosure by Parent
and Purchaser of their identities and holdings of the Owned Shares, and the nature of the Stockholders’ commitments, arrangements and understandings under this Agreement, in any press release, the Offer Documents or any other disclosure
document required in connection with the Offer, the Merger or any transactions contemplated by the Merger Agreement, and (ii) agrees as promptly as practicable to give to Parent and Purchaser any information reasonably related to the foregoing
as either may reasonably require for the preparation of any such disclosure documents. As promptly as practicable, each Stockholder shall notify Parent and Purchaser of any required corrections with respect to any written information supplied by
such Stockholder specifically for use in any such disclosure document, if and to the extent such Stockholder becomes aware that any have become false or misleading in any material respect. 

4.7. Further Assurances. From time to time, at the request of Parent and Purchaser and without further consideration, each
Stockholder shall execute and deliver such additional documents and take all such further lawful action as may be necessary or desirable to consummate and make effective the transactions contemplated by this Agreement. 

5. Termination. 
 5.1. Termination of this Agreement. This Agreement shall terminate upon the earliest to occur of (i) the termination of the Merger Agreement in accordance with its terms, (ii) the
Effective Time, (iii) any reduction of the Offer Price or (iv) any change in the form of consideration payable in the Offer or the Merger. 
 5.2. Effect of Termination. In the event of termination of this Agreement pursuant to Section 5.1, this Agreement shall become void and of no effect with no liability on the part of any party;
provided, however, no such termination shall relieve any party from any liability for any breach of this Agreement occurring prior to such termination. 
 6. Miscellaneous. 
 6.1. Entire Agreement. This Agreement, together
with the Merger Agreement, constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all other prior agreements and understandings, both written and oral, among the parties with respect to the
subject matter hereof. Nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

  
 -6-

 6.2. Amendments. This Agreement may not be modified, amended, altered or
supplemented, except upon the execution and delivery of a written agreement executed by each of the parties to this Agreement. 

6.3. Notices. All notices, requests and other communications to any party hereunder shall be in writing and shall be deemed given
if delivered personally, facsimiled (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses: 
 If to Parent or Purchaser, to: 
 PPR S.A. 

10 avenue Hoche 

75381 Paris Cedex 08 
 Attention:  Todd Hymel 
 Facsimile:   +33 1 45 64 64
04 
 with a copy (which shall not constitute notice) to: 

Wachtell, Lipton, Rosen & Katz 
 51 West 52nd
Street 
 New York, New York 10019 
 Attention:  Mark Gordon, Esq. 

Facsimile:  (212) 403-2000 
 If to a Stockholder, to the address listed for the applicable Stockholder on the signature page hereto: 
 with a copy (which shall not constitute notice) to: 
 Latham & Watkins
LLP 
 650 Town Center Drive, 20th Floor 
 Costa Mesa, California 92626-1925 
 Attention:  Cary K. Hyden

                   Michael A. Treska

 Facsimile:  (714) 755-8290 
 or such other address or facsimile number as such party may hereafter specify by like notice to the other parties hereto. All such notices, requests and other communications shall be deemed received on
the date of receipt by the recipient if received prior to 5 P.M., local time, in the place of receipt and such day is a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been
received until the next succeeding business day in the place of receipt. 
 6.4. Governing Law; Jurisdiction; Venue; Waiver
of Jury Trial. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
DELAWARE, APPLICABLE 

  
 -7-

 
TO CONTRACTS EXECUTED IN AND TO BE PERFORMED ENTIRELY WITHIN THAT STATE, REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS. 

(b) All actions and proceedings arising out of or relating to this Agreement shall be heard and determined in the Chancery Court of the
State of Delaware or, in the event that such court does not have subject matter jurisdiction over such action or proceeding, any federal court sitting in the State of Delaware, and the parties to this Agreement irrevocably submit to the exclusive
jurisdiction of such courts (and, in the case of appeals, appropriate appellate courts therefrom) in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or proceeding. The
consents to jurisdiction set forth in this paragraph shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be deemed to confer
rights on any Person other than the parties hereto. Each of the parties to this Agreement consents to service being made through the notice procedures set forth in Section 6.3 and agrees that service of any process, summons, notice or document
by registered mail (return receipt requested and first-class postage prepaid) to the respective addresses set forth in Section 6.3 shall be effective service of process for any suit or proceeding in connection with this Agreement or the
transactions contemplated by this Agreement. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by
applicable Law. 
 (c) EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. 
 6.5. Specific Performance. The parties agree that irreparable
damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. Accordingly, each Stockholder agrees that Parent and Purchaser shall be entitled (in
addition to any other remedy available to it, including monetary damages) to specific performance of this Agreement and injunctive and other equitable relief. Each Stockholder further agrees that neither Parent nor Purchaser (nor any other Person)
shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 6.5. 
 6.6. No Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent
of the other parties; provided that Parent and Purchaser may assign any of or all of its rights, interests and obligations under this Agreement to any direct or indirect wholly owned Subsidiary of Parent, but no such assignment shall relieve
Parent or Purchaser of any of its obligations under this Agreement. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of and be enforceable by, the parties hereto and their respective successors and
permitted assigns. Any purported assignment not permitted under this Section 6.6 shall be null and void. 

  
 -8-

 6.7. Counterparts. This Agreement may be executed in counterparts (including by
facsimile) (each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement) and shall become effective when one or more counterparts have been signed by each of the parties and delivered
to the other parties. Copies of executed counterparts transmitted by telecopy, telefax or electronic transmission shall be considered original executed counterparts for purposes of this Section 6.7 provided that receipt of copies of such
counterparts is confirmed. 
 6.8. Interpretation. 

(a) The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without
limitation.” The words “hereof,” “hereto,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not
to any particular provision of this Agreement. All terms defined in this Agreement shall have the defined meanings when used in any document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this
Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. Any statute defined or referred to in this Agreement or in any agreement or
instrument that is referred to in this Agreement means such statute as from time to time amended, modified or supplemented, including by succession of comparable successor statutes and references to all attachments thereto and instruments
incorporated therein. References to a Person are also to its permitted successors and assigns. 
 (b) The parties hereto have
participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto, and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

6.9. Severability. If any term or other provision of this Agreement is determined by a court of competent jurisdiction to be
invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to the fullest extent permitted by
applicable Law in an acceptable manner to the end that the transactions contemplated by this Agreement are fulfilled to the extent possible. 
 [remainder of page intentionally blank] 

  
 -9-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written. 
  

			
	PPR S.A.
		
	By:	 	 /s/ Jean-Francois Palus

	Name:	 	Jean-Francois Palus
	Title:	 	Deputy Chief Executive Officer and Chief Financial Officer
	
	Transfer Holding, Inc.
		
	By:	 	 /s/ Jean-Francois Palus

	Name:	 	Jean-Francois Palus
	Title:	 	Chief Executive Officer
	
	Richard R. Woolcott
		
	By:	 	 /s/ Richard R. Woolcott

	Name:	 	Richard R. Woolcott
	Address:	 	 1740 Monrovia Avenue
 Costa
Mesa, CA 92627

	
	René R. Woolcott
		
	By:	 	 /s/ René R. Woolcott

	Name:	 	René R. Woolcott
	Address:	 	 1740 Monrovia Avenue
 Costa
Mesa, CA 92627

 [Signature Page to Share and Voting Agreement] 

 SCHEDULE 1 
 Details of Ownership 
  

					
	 Stockholder
	  	Owned Shares	 
		
	 Richard R. Woolcott
	  	 	2,500,932	  
	 René R. Woolcott
	  	 	1,064,765

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