Document:

Master Sublease

 Exhibit 10.12 
 MASTER SUBLEASE 
 This MASTER SUBLEASE (this
“Sublease”) dated as of July 6, 2007 by and between LIMITED BRANDS, INC., a Delaware corporation (“Lessor”), and EXPRESS, LLC, a Delaware limited liability company (“Lessee”). 
 RECITALS: 
 A.
Lessor is currently the tenant under leases (as amended, modified or supplemented from time to time, collectively, the “Prime Leases” and each a “Prime Lease”) for certain premises described on Exhibit A
attached hereto (collectively, the “Properties” and each a “Property”, as the context herein may require). 
 B. Lessor is currently the guarantor under a guaranty agreement (collectively, the “Guarantees” and each a “Guaranty”) with respect to the obligations arising under each
Prime Lease. 
 C. Lessor desires to sublet to Lessee, and Lessee desires to hire and sublease from Lessor, the Properties, on
the terms and subject to the conditions contained in this Sublease. 
 AGREEMENT: 
 NOW, THEREFORE, for and in consideration of the mutual covenants hereinafter contained and for other good and valuable consideration, the
receipt and sufficiency of which are hereby mutually acknowledged, the parties hereto hereby agree as follows: 
 1.
Demise. 
 Pursuant to the terms and subject to the conditions of this Sublease, Lessor does hereby demise and sublease to
Lessee, and Lessee does hereby sublease from Lessor, the Properties. Lessee has inspected each of the Properties and is acquainted with its condition and agrees to take the same “as is”, except and to the extent of disclosures, agreements,
representations and warranties inconsistent therewith as set forth in the Unit Purchase Agreement (as defined below) or, subject to Section 2(b)(vii) below, the applicable Prime Lease. 

 2. Subordination; Incorporation of Prime Lease by Reference. 
 (a) Lessee acknowledges that Lessor has provided and/or Lessee has received and reviewed a copy of each of the Prime Leases (together with
all amendments, modifications, supplements and material correspondence related thereto). This Sublease, with respect to each Property, is subject and subordinate in all respects to the Prime Lease with respect to such Property. Each of Lessor and
Lessee agrees that it shall not take any action or fail to take any action in connection with any Property which is a violation of or default under any of the provisions of the Prime Lease with respect to such Property. Lessee hereby assumes and
shall fully perform and discharge, with respect to each Property, all the obligations of Lessor as “Tenant” under the Prime Lease with respect to such Property during the Term (as defined below) and shall abide by and adhere to all
restrictions contained in, and all other terms, covenants and conditions of, each Prime Lease, and, except as otherwise provided herein, Lessee acknowledges that Lessor shall have no duty to take any action to comply with the obligations of Lessor
as “Tenant” under each Prime Lease arising during the Term. Lessor represents and warrants that the transactions contemplated by this Sublease and the Master Assignment and Assumption Agreement dated as of the date hereof between Lessor
and Lessee (the “Master Assignment”) are, with respect to each Property, (i) permitted under the terms of the respective Prime Lease for such Property without the consent of each respective “Landlord” under each Prime
Lease (each a “Prime Landlord”) or (ii) if such Prime Lease requires the Prime Landlord’s consent thereunder, such consent has been obtained (or, subject to Section 21(a) of this Sublease, will be obtained) by Lessor
at Lessor’s sole cost and expense, and Lessor agrees to indemnify, defend and hold harmless Lessee with respect to any Losses (as defined below) incurred by Lessee in connection with the assignment of each Prime Lease to Lessor under the Master
Assignment and the subsequent subletting of each Property to Lessee under this Sublease; provided, however, Lessor shall have no obligation and shall not be liable in any manner to Lessee with respect to any Losses that arise by reason
of the sale, directly or indirectly, of the stock of Lessee and/or the change of control of Lessee, except as otherwise provided in the Unit Purchase Agreement. Lessor’s foregoing indemnification, defense and hold harmless obligations shall
survive the expiration or termination of this Sublease. 
 (b) Except to the extent expressly set forth herein to the contrary,
all of the terms, provisions, covenants and conditions of the Prime Lease with respect to each Property are hereby incorporated by reference in and made part of this Sublease with respect to such Property with the same force and effect, and binding
upon and enforceable between Lessor and Lessee, as though set forth in full herein. For purposes of such incorporation, (i) the term “Owner”, “Landlord” or “Lessor” (or words of similar import) in any Prime Lease
shall refer to Lessor under this Sublease, its successors and assigns; (ii) the term “Tenant” or “Lessee” (or words of similar import) in any Prime Lease shall refer to Lessee under this Sublease, its successors and assigns;
(iii) the term “this

  

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Lease” or “this Agreement” (or words of similar import) in each Prime Lease shall refer to this Sublease; (iv) the term “the term of this Lease” (or words of similar
import) in each Prime Lease shall refer to the Term of this Sublease with respect to the applicable Property; (v) the terms “Commencement Date”, “Expiration Date” and “Rent” (or words of similar import) in each
Prime Lease shall each refer to the respective definitions of such terms as are set forth in this Sublease; (vi) references to rules, regulations, requirements and similar terms promulgated or prescribed by Landlord shall refer to those of
Prime Landlord, not of Lessor; and (vii) notwithstanding anything herein to the contrary, Lessor assumes no responsibility for any representation, warranty, covenant or obligation made by Prime Landlord under any Prime Lease. The obligations of
Lessee hereunder which are to be performed during the Term with respect to each Property shall survive and extend beyond the termination of this Sublease with respect to such Property to the extent such survival is contemplated in this Sublease or
in the applicable Prime Lease. If there is any inconsistency or conflict between the provisions of the respective Prime Lease and this Sublease with respect to each Property, the provisions of this Sublease shall control. 
 3. Term. 
 (a) The term of
this Sublease with respect to any Property (the “Term”) shall commence as of the date hereof (the “Commencement Date”) and shall expire on the day preceding (the “Expiration Date”) the day of
expiration of the current term of the Prime Lease with respect to such Property (the “Prime Lease Term”), unless sooner terminated as provided herein or in the Transaction Documents (as hereinafter defined). Lessee acknowledges
that, except as provided in the immediately following sentence, the Prime Lease Term with respect to any Property shall not include renewal or extension options (or, if the Prime Lease Term with respect to any Property is currently under a renewal
or extension option, any additional renewal or extension options) available under the Prime Lease with respect to such Property. Lessee agrees that Lessee shall have no right to exercise, or to cause Lessor to exercise, any renewal or extension
terms under the Prime Lease with respect to any Property (unless Lessor is completely and unconditionally released from any and all liability under any Prime Lease and any guaranty in respect thereof or Lessee provides to Lessor a letter of credit
in form and amount satisfactory to Lessor from a financial institution acceptable to Lessor securing Lessor from loss with respect to any such liability or guaranty obligation, in which event Lessee shall have the right to exercise, or cause Lessor
to exercise, any such renewal or extension terms). In addition, during the 18 month period immediately prior to the scheduled expiration of any Prime Lease, Lessor and Lessee agree to have monthly calls to discuss each party’s relative interest
in remaining in the pertinent Property, and each party shall in good faith consider the other party’s interests, but with no obligation to act or refrain from acting in connection with a new lease or an extension or renewal of any such Prime
Lease. 
  

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 (b) Except as otherwise expressly provided herein, and subject to Section 13 of this
Sublease, Lessor agrees to cooperate (at Lessee’s request) with Lessee, and Lessee, at Lessee’s sole cost and expense, shall have the right and power to control all courses of action, in connection with the exercise or the election not to
exercise any and all rights of the “Tenant” under a Prime Lease, including, without limitation, the right to terminate such Prime Lease (including, without limitation, any (i) “kick-out” or “co-tenancy” rights,
(ii) rights to terminate such Prime Lease in the event of a casualty or condemnation or (iii) rights to terminate such Prime Lease in the event of a default under such Prime Lease by the Prime Landlord thereunder (except for any
termination proceedings that result from a default by Lessee under this Sublease or under such Prime Lease), provided Lessee agrees to (x) deliver to Lessor a copy of any termination notice delivered pursuant to clauses (i) and
(ii) above to a Prime Landlord under the respective Prime Lease and (y) notify Lessor at least 10 Business Days prior to its intention to deliver a termination notice pursuant to clause (iii) above to a Prime Landlord under the
respective Prime Lease. Each party agrees to deliver copies to the other of all notices and material correspondence received or delivered by such party in connection with the matters described above. 
 (c) Wherever in this Sublease Lessor agrees to cooperate with Lessee, at Lessee’s request, with respect to matters arising under a
Prime Lease, Lessor agrees that Lessor shall not charge Lessee any fees or other expenses, including administrative fees or otherwise, in connection with such cooperation; provided, however, Lessee agrees that all courses of action (as
described in subsection (b) above, or otherwise as provided in this Sublease) undertaken at Lessee’s direction shall be at Lessee’s sole cost and expense with respect to any amounts charged to Lessee by any Person other than Lessor
(or incurred or otherwise payable by Lessee to such other Person). 
 4. Rent. 
 (a) Subject to subsection (c) below, commencing on and after the Commencement Date, Lessee shall pay Lessor all monetary obligations of
Lessor under each Prime Lease for its respective Property applicable to the Term (including, without limitation, base, fixed or minimum rent, percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments,
insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) (collectively, the “Property Rent”). 

(b) Commencing on and after the Commencement Date, Lessee shall pay directly to Lessor, at Lessor’s office at the address designated
for notices to Lessor in Section 11(a) hereof, all other amounts payable by Lessee that arise as an independent obligation under this Sublease (the “Additional Rent”, together with the Property Rent, the
“Rent”). 
  

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 (c) Lessor and Lessee agree to cooperate, and to take all reasonably necessary or desirable
actions possible, to arrange for all payments by Lessee of the Property Rent with respect to each Property directly to Prime Landlord with respect to such Property, and, with respect to each Property, to otherwise establish a direct relationship
between Prime Landlord and Lessee with respect to all matters arising under the Prime Lease with respect to such Property and this Sublease with respect to such Property. All Property Rent with respect to any Property shall be paid in lawful money
of the United States to Prime Landlord with respect to such Property (or, if such Prime Landlord will not agree to such arrangement, then to Lessor at Lessor’s office at the address designated for notices to Lessor in Section 11(a) hereof
in immediately available funds at least two (2) Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or at such other place as either Prime Landlord or Lessor may designate, as the case may be, by
notice to Lessee. Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor’s obligations (without premium or mark-up) for Property Rent incurred under the Prime Lease during the Term with respect to each
Property to Lessee, and Lessee agrees to pay or otherwise reimburse Lessor for all of Lessor’s obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will not accept a direct payment from
Lessee of Property Rent under the respective Prime Lease, then, provided Lessee shall have delivered such Property Rent payment to Lessor within the time and in the manner specified in this subsection (c), Lessor shall deliver such payment of
Property Rent to such Prime Landlord on or prior to the date when such Property Rent is due and payable under such Prime Lease and in such manner as provided under the respective Prime Lease. 
 (d) All obligations of Lessee and Lessor under this Section 4 shall survive the termination of the Prime Leases or this Sublease.

 5. Alterations. 
 Lessee shall be permitted to make any alterations or additions to any Property which are permitted under the applicable provisions of the pertinent Prime Lease. 
 6. Brokers. 
 Each party represents and warrants to the other that it dealt with no broker (or other person who may claim a commission or similar compensation) in connection with this Sublease, and each party shall defend, indemnify and hold the other
harmless from any liability or loss, including, without limitation, reasonable attorneys’ fees and expenses, based upon an alleged breach of said representation and warranty. 
  

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 7. Assignment, Subletting; Subordination. 
 (a) Except as otherwise set forth herein, Lessee shall not assign this Sublease or allow it to be assigned, in whole or in part, by operation
of law or otherwise, or mortgage or pledge the same, or sublet any Property, without the prior written consent of Lessor, which shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything contained herein to the contrary,
any assignment or transfer which may occur by operation of law or otherwise as a consequence of a transfer of interests (whether as a matter of right or pursuant to consent) under the pertinent provisions of the “LLC Agreement” (as defined
in the Unit Purchase Agreement) shall be permitted without the consent of Lessor; provided that, if Lessor’s financial exposure is increased or otherwise adversely affected as a consequence thereof, then Lessee shall provide to Lessor
reasonable security as a consequence thereof. Notwithstanding the foregoing, but subject to the terms of the Prime Lease, Lessee may effect an assignment, transfer or sublet, without the consent of Lessor, to any one of its affiliates, provided,
however, that except as otherwise contemplated in the Transaction Documents, if at anytime after such permitted assignment, transfer or sublet the transferee is no longer an affiliate of Lessee, the event terminating such affiliation shall be an
assignment, transfer or sublet subject to the preceding sentence. For purposes of this Section 7(a), the term “Transaction Documents” means the Unit Purchase Agreement, together with all other agreements and documents contemplated
thereby executed and delivered by such parties and their respective affiliates with respect to the chain of stores known as “Express”. If Lessee shall at any time or times during the Term of this Sublease with respect to any Property
desire to assign or transfer this Sublease or sublet all or part of any Property, Lessee shall give notice thereof to Lessor, which notice shall be accompanied by all documents or information (if any) otherwise required under the applicable Prime
Lease. Subject to the provisions of Section 13 of this Sublease, and in the event that Lessor so consents to any such assignment, transfer or sublet, Lessor agrees to cooperate with Lessee (at Lessee’s sole cost and expense) in connection
with obtaining the applicable Prime Landlord’s consent, if required, under the applicable Prime Lease. 
 (b) (i) Lessee
acknowledges that any such assignment, transfer or subletting shall be, in each instance, conditional and subject to the requirements of the applicable Prime Lease (including, without limitation, the payment by Lessee of the applicable Prime
Landlord’s fees and expenses in connection with any assignment, transfer or subletting, if such payment is required under such Prime Lease) and to obtaining the written consent of the applicable Prime Landlord under the applicable Prime Lease,
if required thereunder. Each assignment, transfer or subletting pursuant to this Section 7 shall be subject to all of the covenants, agreements, terms, provisions and conditions contained in this Sublease. 
  

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 (ii) Notwithstanding any assignment, transfer or subletting contemplated under this
Section 7, or acceptance of rent or additional rent by Lessor from any subtenant or assignee, Lessee shall and will remain fully liable for the payment of the Rent due and to become due hereunder and for the performance of all the covenants,
agreements, terms, provisions and conditions contained in this Sublease on the part of Lessee to be performed during the Term hereof and all acts and omissions of any subtenant or assignee or anyone claiming under or through any subtenant or
assignee which shall be in violation of any of the obligations of this Sublease, and any such violation shall be deemed to be a violation by Lessee. Lessee further agrees that notwithstanding any such assignment, transfer or subletting, no other and
further assignment, transfer or subletting by Lessee or any person claiming through or under Lessee shall or will be made except upon compliance with and subject to the provisions of this Section 7. 
 (c) With respect to each and every permitted sublease or subletting under the provisions of this Sublease, it is further agreed: 

(i) No subletting with respect to any Property shall be for a term ending later than one day prior to the Expiration Date
with respect to such Property, or the earlier termination of this Sublease with respect to such Property; and 
 (ii) Each sublease shall expressly provide that it is subject and subordinate to this Sublease and to the matters to which this Sublease is or shall be subordinate and that, in the event of termination, re-entry or dispossession by Lessor
under this Sublease, Lessor may, at its option, take over all of the right, title and interest of Lessee, as sublessor, under such sublease; provided, so long as such subtenant is not in default under the terms of such sublease or this
Sublease (after any applicable notice or cure period), Lessor agrees that Lessor shall not disturb such subtenant’s use, occupancy and enjoyment of such Property, and Lessor agrees to execute and deliver to such subtenant a non-disturbance
agreement in a form reasonable acceptable to Lessor within 20 days of submission to Lessor of such non-disturbance agreement by such subtenant; in addition, such subtenant shall, at Lessor’s option, attorn to Lessor pursuant to the then
executory provisions of such sublease, except that Lessor shall not (x) be liable for any previous act or omission of Lessee under such sublease, (y) be subject to any offset which theretofore accrued to such subtenant against
Lessee, or (z) be bound by any previous modification of such sublease not consented to by Lessor (if such consent is required under Section 13 of this Sublease) or by any advance payment of more than one month’s rent. 
 (d) The parties hereto hereby acknowledge that, pursuant to the Prime Lease with respect to any Property, this Sublease is subject and
subordinate

  

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to such Prime Lease, and that in the event of termination, re-entry or dispossession by any Prime Landlord under the Prime Lease, such Prime Landlord may, at its option, take over all of the
right, title and interest of Lessor, as sublessor, under this Sublease with respect to the applicable Property, and Lessee shall, at such Prime Landlord’s option, attorn to such Prime Landlord pursuant to the then executory provisions of this
Sublease with respect to such Property, except that such Prime Landlord shall not (i) be liable for any previous act or omission of Lessor under this Sublease; (ii) be subject to any offset which theretofore accrued to Lessee against
Lessor; or (iii) be bound by any previous modification of this Sublease not previously approved by such Prime Landlord or by any advance payment of more than one month’s rent. In addition, the parties hereto hereby acknowledge that if
Lessor defaults in paying any Property Rent with respect to any Property, the applicable Prime Landlord is authorized to collect any Property Rent due or accruing from Lessee (or any other occupant of the applicable Property) and to apply the
amounts collected to such Property Rent, and that any Prime Landlord’s receipt or acceptance of any payments from Lessee (or any other occupant of the applicable Property) shall not be deemed or construed as releasing Lessor from Lessor’s
obligations under the applicable Prime Lease. 
 8. Services; Right to Cure Defaults; Remedies; Consents. 
 (a) Notwithstanding anything to the contrary set forth in this Sublease, Lessor shall have no obligation (and the incorporation by reference
of each Prime Lease into this Sublease with respect to each respective Property shall not include any obligation) to render any work, labor, services (including elevator facilities, HVAC, water, cleaning or security services), repairs or
restorations to Lessee of any nature whatsoever or to expend any monies for the preservation, maintenance, restoration or repair of the Properties or any portion thereof, and Lessee shall look solely to the applicable Prime Landlord for the
furnishing of any services, maintenance, restoration or repairs with respect to any Property to which Lessee may be entitled. Lessor shall in no event be liable to Lessee nor shall the obligations of Lessee hereunder be impaired or the performance
thereof excused because of any failure or delay on the applicable Prime Landlord’s part in furnishing services with respect thereto (except and to the extent the same obligation of Lessor, as “Tenant” under such Prime Lease, would be
so impaired or excused). If any Prime Landlord shall default in any of its obligations to Lessor with respect to any Property, Lessee shall have the right to exercise in its own name and that of Lessor (as Lessor’s attorney-in-fact, coupled
with an interest) all the rights to enforce compliance on the part of such Prime Landlord as are available to Lessor with respect to such Property. Lessor hereby agrees to cooperate with (including, at Lessee’s request and at Lessee’s sole
expense, exercising reasonable commercial efforts to enforce any Prime Landlord’s obligations to Lessor under any Prime Lease) and execute, all at Lessee’s expense, all instruments reasonably required by Lessee to enforce such compliance,
and Lessee hereby agrees to indemnify, defend and hold Lessor

  

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harmless of and from any and all damages, liabilities, obligations, costs, claims, losses, demands, expenses and injuries, including reasonable attorney’s fees and expenses, which may be
incurred by Lessor in connection with or as a result of such cooperation and execution, except and to the extent of Lessor’s gross negligence or willful misconduct. Any amount of recovery resulting from such enforcement obtained by either
Lessee or Lessor shall be the property of Lessee. 
 (b) If Lessee fails to perform any of its obligations under this Sublease
with respect to a Property and its applicable Prime Lease, Lessor may cure such default, after the giving of notice and the expiration of any applicable grace period (as the same may be extended), when such a period is specified in such Prime Lease,
and within a reasonable period where no grace period is specified in this Sublease or in such Prime Lease, and Lessee shall pay Lessor the cost of such cure, including reasonable attorneys’ fees and expenses, as Additional Rent, within five
(5) Business Days after receiving Lessor’s statement therefor. Lessor shall have the right (but shall not be obligated) to enter the Properties, at reasonable times (which shall be during normal business hours) and upon reasonable notice,
and following a default by Lessee at any time, to inspect the Properties or to cure any defaults by Lessee, provided Lessor shall conduct such entries in a manner which does not unreasonably interfere with the operation of Lessee’s business on
such Property. Except for any defaults by Lessee with respect to the payment of Rent, Lessor agrees not to cure any non-monetary defaults that arise under a Prime Lease unless the respective Prime Landlord has notified either Lessor or Lessee of
such non-monetary default under such Prime Lease and of such Prime Landlord’s election to exercise a remedy as a result thereof, it being the intention of the parties hereto that Lessor shall not exercise any rights under this Sublease with
respect to non-monetary defaults under a Prime Lease unless the respective Prime Landlord intends to exercise concomitant rights under such Prime Lease because of the same act or omission. 
 9. Insurance. 
 (a) Lessee shall maintain, at its sole cost and expense throughout the Term of this Sublease with respect to each Property, insurance in the types and amounts, and subject to the conditions, as are required pursuant to the applicable Prime
Lease, as incorporated herein by reference. All such policies shall name Lessor and the applicable Prime Landlord, and any other persons required pursuant to the applicable Prime Lease, as additional insured parties and shall be endorsed to provide
that they shall not be canceled without thirty (30) days’ prior written notice (or, with respect to each Property, such lesser time period as is customary in the jurisdiction where such Property is located, provided such lesser time
period shall not be less than the period set forth in the respective Prime Lease) to Lessor and the applicable Prime Landlord. Lessee shall furnish certificates evidencing the required coverage to Lessor, together with such evidence as Lessor shall
reasonably deem satisfactory of the payment of premiums thereon, promptly following the execution of this Sublease. 
  

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 (b) Lessor and Lessee each hereby waive any and all right that they may have to recover from
the other damages for any loss occurring to them by reason of any act or omission of the other, but only to the extent that the waiving party is actually compensated therefor by insurance; provided that this waiver shall be effective only with
respect to loss or damage occurring during such time as the waiving party’s coverage under the appropriate policy of insurance is not adversely affected by this waiver. If, in order to avoid such adverse effect, an endorsement must be added to
any insurance policy required hereunder, Lessor and Lessee shall cause such endorsement immediately to be added and thereafter maintained throughout the Term of this Sublease. 
 10. Quiet Enjoyment. 
 Subject to the terms and conditions of each Prime Lease, Lessor acknowledges and agrees that Lessee, upon Lessee paying the Rent and observing and performing all the terms, covenants and conditions to be
observed and performed by Lessee under this Sublease with respect to each Property and each Prime Lease with respect to such Property, is entitled to the quiet enjoyment of each Property during the Term of this Sublease applicable thereto.

 11. Notices. 
 (a) All consents, approvals, requests, notices, copies or other communication (collectively “Notices”) required or desired to be delivered under this Sublease shall be in writing, and
transmitted by facsimile machine or inter-connected computer systems, with a copy to be delivered promptly thereafter by reputable overnight courier, addressed to the parties at the addresses first above written. Notice shall be deemed given on the
date of receipt by the addressee, if received on a Business Day, or the first Business Day following receipt, if received on a non-Business Day. Addresses for Notice are as follows: 
  

			
	Lessee:	 	Express, LLC
		 	One Limited Parkway
		 	Columbus, Ohio 43230
		 	Attention: Corporate Real Estate Department
		 	Facsimile: (614) 415-4000
		
	copy to:	 	Kirkland & Ellis LLP
		 	555 California Street
		 	San Francisco, California 94104
		 	Attention: Mikaal Shoaib
		 	Facsimile: (415) 439-1680

  

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	Lessor:	 	Limited Brands, Inc.
		 	Three Limited Parkway
		 	Columbus, Ohio 43230
		 	Attention: Real Estate Department/Managing Real Estate Attorney
		 	Facsimile: (614) 415-7900
		
	copy to	 	Limited Brands, Inc.
		 	Three Limited Parkway
		 	Columbus, Ohio 43230
		 	Attention: Lease Administration Department
		 	Facsimile: (614) 415-6002

 Lessor and Lessee each agree to promptly deliver to each other (i) copies of any
and all notices delivered to a Prime Landlord by such party or received by such party from such Prime Landlord and (ii) other material correspondence to or from a Prime Landlord and such party. 
 (b) Either party may, by Notice pursuant to Section 11(a), change the address, person or officer, and include additional Notice
recipients, to which all Notices are to be sent thereafter. 
 (c) Solely for the purpose of this Sublease, wherever in the
Prime Lease with respect to any Property a time is specified for the giving of any notice or the making of any demand by Lessee thereunder, such time is hereby changed (for the purpose of this Sublease with respect to such Property only) by adding
three (3) Business Days thereto, and wherever in the Prime Lease with respect to such Property a time is specified for the giving of any notice or the making of any demand by Lessor thereunder, such time is hereby changed (for the purpose of
this Sublease with respect to such Property only) by subtracting three (3) Business Days therefrom. Wherever in the Prime Lease with respect to any Property a time is specified within which Lessee thereunder must give notice, perform or make a
demand following an event, or within which Lessee must perform or respond to any notice, request or demand previously given or made by Lessor thereunder, or to comply with any obligation on Lessee’s part thereunder, such time is hereby changed
(for the purpose of this Sublease with respect to such Property only) by subtracting three (3) Business Days therefrom. Wherever in the Prime Lease with respect to any Property a time is specified within which Lessor thereunder must give
notice, perform or make a demand following an event, or within which Lessor must respond to any notice, request or demand previously given or made by Lessee thereunder, or to comply with any obligation on Lessor’s part thereunder, such time is
hereby changed (for the purpose of this Sublease with respect to such Property only) by adding three (3) Business Days thereto. It is the purpose and intent of the foregoing provisions to provide Lessor with time within which to transmit to any
Prime Landlord any notices or demands received from Lessee, and to transmit to Lessee any notices or demands received from any

  

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Prime Landlord. Notwithstanding anything to the contrary contained herein, the provisions of this Section 11(c) shall not apply to any Notices or demands made by Lessor or Lessee that arise
solely under this Sublease and do not require delivery to or from a Prime Landlord under the respective Prime Lease. 
 12.
Indemnity. 
 (a) Lessee shall defend, indemnify and hold harmless Lessor and its employees, officers, directors, partners
and agents against and from any and all losses, damages, claims, liabilities, demands, fines, suits, actions, proceedings, orders, decrees and judgments (collectively, “Losses”) of any kind or nature by, or in favor of, anyone
whomsoever, and against and from any and all costs, damages and expenses, including attorneys’ fees, resulting from, or in connection with (i) loss of life, bodily or personal injury or property damage arising, directly or indirectly, out
of, or from, or on account of any accident or other occurrence in, upon or from Lessee’s occupancy of the Properties during the Term hereof (including any holdover periods by Lessee); (ii) a breach by Lessee of this Sublease or any Prime
Lease (following the expiration of applicable notice and cure periods), except and to the extent any breach by Lessee of a Prime Lease results solely from Lessor’s breach of such Prime Lease; or (iii) the use and occupancy of the
Properties or any construction, repair, alterations or improvements therein or appurtenances thereto by or on behalf of Lessee or anyone holding by, through or under Lessee or its employees, agents or invitees, and except as otherwise provided in
subsection (b) below, except and only to the extent such Losses result from the gross negligence or willful misconduct of Lessor, its employees, agents, or invitees. Lessee agrees that Losses shall include any damages, costs and expenses
incurred or suffered by Lessor which are caused by Lessee’s holdover of any Property beyond the Term of this Sublease with respect to such Property. 
 (b) Lessor shall defend, indemnify and hold harmless Lessee and its employees, officers, directors, partners and agents against and from any and all Losses of any kind or nature by, or in favor of, anyone
whomsoever, and against and from any and all costs, damages and expenses, including attorneys’ fees, resulting from, or in connection with (i) loss of life, bodily or personal injury or property damage arising, directly or indirectly, out
of, or from, or on account of any accident or other occurrence in, upon or from the Properties during the Term hereof; (ii) a breach by Lessor of this Sublease or any Prime Lease (following the expiration of applicable notice and cure periods),
except and to the extent any breach by Lessor of a Prime Lease results solely from Lessee’s breach of such Prime Lease or this Sublease; or (iii) the use and occupancy of the Properties or any construction, repair, alterations or
improvements therein or appurtenances thereto by or on behalf of Lessor, and, with respect to subsections (b)(i) and (b)(iii) (but not subsection (b)(ii)), only to the extent such Losses result from the gross negligence or willful misconduct of
Lessor, its employees, agents, or invitees. 
  

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 13. Amendments to Prime Lease/Sublease. 
 (a) Neither Lessor nor Lessee shall amend, modify, supplement or otherwise alter in any manner the provisions of any Prime Lease, this
Sublease or any other agreement with respect to any Property without in each instance the prior written consent of the other, which consent shall not be unreasonably withheld. 
 (b) Lessor shall have no obligation to provide any guarantee or other assurance for any lease or sublease entered into, modified or amended
by Lessee after the Commencement Date or for any renewal or extension of any Prime Lease beyond the original Prime Lease Term, without Lessor’s consent, beyond any Guaranty or assurance in existence as of the date hereof; provided, Lessor shall
reaffirm a Guaranty of its respective Prime Lease for the period until the expiration of the original Prime Lease Term, if expressly required by such Prime Landlord, in connection with an amendment or modification of such Prime Lease, provided that,
except as set forth in Section 3(a) hereof, such reaffirmation shall not extend or renew the Prime Lease Term, increase the obligations of Lessor thereunder or otherwise materially or adversely affect Lessor. 
 14. Successors. 
 Subject to Section 7 and Section 22, the covenants and agreements herein contained shall bind and inure to the benefit of Lessor and Lessee and their respective permitted successors and assigns. 
 15. Captions. 
 The captions or headings of paragraphs in this Sublease are inserted for convenience only, and shall not be considered in construing the provisions hereof if any question of intent should arise. 
 16. Severability. 
 If any provisions of this Sublease shall be held to be invalid or unenforceable, the validity and enforceability of the remaining provisions of this Sublease shall not be affected thereby. 
 17. Governing Law. 
 With respect to each Property, this Sublease shall be construed in accordance with, and governed by, the laws of the state in which such Property is located. 
  

 13 

 18. Further Assurances/Reasonableness and Good Faith. 
 Lessor and Lessee shall execute, acknowledge and deliver such instruments and take such other action as may be necessary to carry out their
rights and obligations under this Sublease, including the execution of any agreement or instrument required by any Prime Landlord under any Prime Lease. In addition to the provisions of Section 4(c) of this Sublease, Lessor and Lessee agree to
cooperate and to take all reasonably necessary or desirable actions in order to establish a direct relationship between the applicable Prime Landlord and Lessee with respect to all matters related to each Property. Whenever this Sublease grants
Lessor or Lessee the right to take action, exercise discretion or make other determinations regarding a Property or this Sublease, each party agrees to act reasonably, timely and in good faith unless a different standard is specified herein.

 19. Sublease Subject to Unit Purchase Agreement. 
 This Sublease is being entered into in connection with the transactions contemplated by that certain Unit Purchase Agreement dated as of
May 15, 2007 among Lessor, LBI, Express Investment Corp., Limited Brands Store Operations, Inc. and Express Holding, LLC, as amended (the “Unit Purchase Agreement”). Lessor and Lessee agree that this Sublease shall be subject
to the terms of the Unit Purchase Agreement and, if there is any conflict or inconsistency between the terms of this Sublease and the terms of the Unit Purchase Agreement, the terms of the Unit Purchase Agreement shall control; provided,
however, Lessor and Lessee agree that this Section 19 shall not be applicable to the provisions of Section 22 of this Sublease. Defined terms used but not defined herein shall have the meanings ascribed to such terms in the Unit
Purchase Agreement. 
 20. Waiver of Lien. 
 Lessor hereby waives and relinquishes any landlord’s lien, right of levy or distraint, claim, security interest or other interest Lessor may now or hereafter have in or with respect to any of the
Personal Property of Lessee. For purposes of this Sublease, Lessee’s “Personal Property” shall include all of Lessee’s personal property, including inventory and equipment, but shall not include plumbing and electrical fixtures,
heating, ventilation and air conditioning, wall and floor coverings, walls or ceilings and other fixtures not constituting trade fixtures. Lessor agrees to execute and deliver a Landlord waiver and collateral access agreement to such effect in a
form reasonably acceptable to Lessor. 
  

 14 

 21. Recission of this Sublease; Termination in Connection with Release of Guaranty.

 (a) Lessor and Lessee agree that, with respect to each Property and its respective Prime Lease, if the respective Prime
Landlord challenges the assignment of such Prime Lease pursuant to the Master Assignment and the subsequent subletting of such Property to Lessee pursuant to this Sublease, or otherwise makes any allegations that such transactions do not comply with
the provisions of the respective Prime Lease, then Lessor shall have the right (to be exercised or not exercised in Lessor’s sole discretion) to deem the Master Assignment and this Sublease rescinded and declared null and void as of the date
hereof with respect to such Property; provided, Lessor shall indemnify, defend and hold harmless Lessee from any Losses arising in connection with such rescission in accordance with Section 2(a) of this Sublease, and such obligation shall
survive the termination or expiration of this Sublease. 
 (b) Lessee agrees that Lessor shall have the right to negotiate with
any Prime Landlord in order to effect the release of any Guaranty, and Lessee shall endeavor to obtain any such release of a Guaranty to the same extent that the Company (as defined in the Unit Purchase Agreement) is so obligated under
Section 7.04 of the Unit Purchase Agreement. The Sublease shall terminate from time to time with respect to one or more Properties, if the Prime Landlord of the applicable Prime Lease shall have relieved Lessor of its obligations under
such Prime Lease and any Guaranty thereunder pursuant to a written agreement reasonably acceptable to Lessor, provided that, Lessor shall (with the consent of the applicable Prime Landlord, if required) (i) cause the reassignment of the
Prime Lease to Lessee and (ii) otherwise secure for Lessee the benefits, subject to the obligations, of the Prime Lease related thereto (other than rights or options to extend the term thereof in accordance with the provisions of
Section 3(a) hereof). 
 22. Restrictions on Assignment by Lessor. 
 Lessor shall not assign or otherwise transfer this Sublease or the Master Assignment (or any interest therein) without in each instance the
prior written consent of Lessee, which consent may be granted or withheld in Lessee’s sole and absolute discretion; provided, however, Lessee shall not unreasonably withhold, condition or delay such consent for any assignment or
other transfer by Lessor to a wholly-owned (directly or indirectly) subsidiary of Lessor, provided (i) such transferee shall assume in full the punctual performance of all of Lessor’s obligations (and Lessor shall remain directly,
primarily, absolutely and unconditionally liable for and otherwise guarantee such transferee’s performance of such obligations as guarantor and surety) under this Sublease and the Master Assignment; (ii) the rights of Lessee under this
Sublease and the Master Assignment shall not be impaired or otherwise adversely affected by such assignment or other transfer by Lessor hereunder; (iii) Lessor shall, as a condition precedent to such assignment or transfer, execute and deliver
to Lessee a guaranty and suretyship agreement, in form and substance reasonably acceptable to Lessee,

  

 15 

 
reaffirming Lessor’s obligations and undertakings set forth herein; and (iv) such assignment or other transfer is permitted under the Prime Lease or Prime Landlord’s consent has
been obtained. 
 23. WAIVER OF JURY TRIAL. 
 EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS SUBLEASE OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 24. Counterparts. 
 This Sublease may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 [The remainder of this page intentionally left blank.] 
  

 16 

 IN WITNESS WHEREOF, Lessor and Lessee have caused this Sublease to be executed and delivered
by their duly authorized officers as of the date first written above. 
  

					
	Lessor:	    	LIMITED BRANDS, INC.
			
		    	By:	 	 /s/ Timothy J. Faber

		    		 	Timothy J. Faber
		    	Its:	 	Vice President – Treasury, Mergers & Acquisitions
		
	Lessee:	    	EXPRESS, LLC
			
		    	By:	 	 /s/ Douglas L. Williams

		    		 	Douglas L. Williams
		    	Its:	 	Senior Vice President – Enterprise General CounselServices Agreement

 Exhibit 10.13 
 SERVICES AGREEMENT 
 dated as of 
 July 6, 2007 
 between 
 Express, LLC 
 and 
 Limited Brands, Inc. 

					
	 ARTICLE 1
 DEFINITIONS

			
	Section 1.01.	  	Definitions	  	1
	Section 1.02.	  	Internal Reference	  	4
	
	ARTICLE 2
	PURCHASE AND SALE OF SERVICES
			
	Section 2.01.	  	Purchase and Sale of Services	  	4
	Section 2.02.	  	Additional Services	  	5
	
	 ARTICLE 3
 SERVICE COSTS

			
	Section 3.01.	  	Service Costs Generally	  	5
	Section 3.02.	  	Subcontractors	  	7
	Section 3.03.	  	Title to Assets; Methods, etc.	  	7
	Section 3.04.	  	Customary Billing	  	8
	Section 3.05.	  	Pass-Through Billing	  	8
	Section 3.06.	  	Percent of Sales Billing	  	8
	Section 3.07.	  	Fixed Fee Billing	  	9
	Section 3.08.	  	Capital Investments	  	9
	Section 3.09.	  	Invoicing and Settlement of Costs	  	9
	Section 3.10.	  	Amended Schedules	  	11
	
	 ARTICLE 4
 PROVISION OF SERVICES; INDEMNIFICATION

			
	Section 4.01.	  	General Standard of Service	  	12
	Section 4.02.	  	Ownership of Products 	  	12
	Section 4.03.	  	Review Meetings	  	13
	Section 4.04.	  	Limitation of Liability	  	13
	Section 4.05.	  	Indemnification of Limited Brands by the Company	  	13
	Section 4.06.	  	Indemnification of the Company by Seller	  	14
	Section 4.07.	  	Notice of Certain Matters	  	14
	Section 4.08.	  	Indemnification Procedures 	  	15
	
	 ARTICLE 5
 TERM AND TERMINATION

			
	Section 5.01.	  	Term	  	16
	Section 5.02.	  	Termination by the Parties	  	16
	Section 5.03.	  	Transfer of Associates	  	17
	Section 5.04.	  	Effect of Termination	  	17
	Section 5.05.	  	Notification of Change of Control	  	18

  

 i 

			
	 ARTICLE 6
 MISCELLANEOUS

		
	Section 6.01.   Confidential Information; Non-Solicitation	  	18
	Section 6.02.   Audits	  	20
	Section 6.03.   No Agency	  	21
	Section 6.04.   Force Majeure	  	21
	Section 6.05.   Entire Agreement; Successors and Assigns	  	22
	Section 6.06.   Notices	  	22
	Section 6.07.   Governing Law	  	24
	Section 6.08.   Jurisdiction	  	24
	Section 6.09.   WAIVER OF JURY TRIAL	  	24
	Section 6.10.   Severability	  	24
	Section 6.11.   Amendment 	  	24
	Section 6.12.   Counterparts	  	25
	Section 6.13.   Headings; Interpretation and Construction 	  	25
	Section 6.14.   Mutual Contribution	  	25

  

			
	Exhibit 3.0l(d)	  	2007 Cost Allocation
	Exhibit 3.08(c)	  	Work-in Progress Capital Investments
		
	Schedule I	  	Human Resources and Benefits Services
	Schedule II	  	Information Technology Services
	Schedule III	  	Logistics and Related Services
	Schedule IV	  	Store Design and Store Construction Services
	Schedule V	  	Real Estate Services
	Schedule VI	  	Tax Services
	Schedule VII	  	Treasury and Cash Management Services
	Schedule VIII	  	Production and Sourcing Support Services
	Schedule IX	  	Customer Marketing Services
	Schedule X	  	Enterprise Shared Services
	Schedule XI	  	Loss Prevention Services

  

 ii 

 SERVICES AGREEMENT 
 This Services Agreement (this “Agreement”) is entered into as of July 6, 2007 by and between Express, LLC, a Delaware
limited liability company (the “Company”), and Limited Brands, Inc., a Delaware corporation (“Limited Brands”). 
 WITNESSETH: 
 WHEREAS, Express Investment Corp., a Delaware corporation
(“Buyer”), has acquired seventy-five percent (75%) of the limited liability company interests of Express Holding, LLC, a Delaware limited liability company (“Express Holding”), pursuant to the Unit Purchase
Agreement (the “Unit Purchase Agreement”) dated as of May 15, 2007, as amended on July 6, 2007, among Limited Brands, Limited Brands Store Operations, Inc., Express Holding and Buyer; 
 WHEREAS, the Company is a wholly-owned subsidiary of Express Holding; 
 WHEREAS, Limited Brands has heretofore provided to the Company and its Subsidiaries certain administrative, financial, management and other
services; and 
 WHEREAS, the Company desires to obtain certain services from Limited Brands, on the terms and subject to the
conditions set forth herein. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 ARTICLE 1 
 Definitions 
 Section 1.01. Definitions. (a) All terms used but not defined herein shall have the
meanings ascribed to them in the Unit Purchase Agreement. The following terms, as used herein, have, the following meanings, applicable to both the singular and the plural forms of the terms described: 
 “Agreement” has the meaning ascribed thereto in the preamble hereto, as such agreement may be amended and supplemented from
time to time in accordance with its terms. 
 “Change of Control of the Company” means any “Transfer”
(as defined in the LLC Agreement), transaction or series of transactions which results in (i) any Person (other than Buyer and its Affiliates or Limited Brands and its Affiliates) acquiring directly or indirectly 25% or more of the Total Voting
Power of Express Holding or (ii) any Person (other than Buyer and its Affiliates or Limited Brands and its Affiliates) acquiring “control” (as defined in the Affiliate definition of Section 1.01 of the Unit Purchase
Agreement) of Express Holding. 

 “Disengagement Costs” means any and all direct or indirect out-of-pocket
fees, and all other out-of-pocket costs, charges and expenses of any kind incurred by the Limited Entities, the Company and/or its Subsidiaries in connection with the termination of this Agreement and/or relating to the cessation of Services
hereunder including, without limitation, all third party charges, costs and/or fees; all third party cancellation and/or termination charges, costs and/or fees; the market value of all Disengagement Services provided by other Persons (but not
Limited Brands’ personnel) and a portion (as determined in this paragraph below) of the out-of-pocket costs of appropriate severance payments to all employees of the Limited Entities (the “Severance Payments”) that will be
terminated by the Limited Entities as a result of the termination of this Agreement and/of the cessation of any Services hereunder (each a “Severed Employee” and collectively the “Severed Employees”) as specified
below. Consistent with Section 6.01(d) of this Agreement, Limited Brands will at the request of the Company allow the Company to provide to each Severed Employee the opportunity to become an employee of the Company but in the event that
any such Severed Employee chooses not to become an employee of the Company, Limited Brands will pay each such Severed Employee’s Severance Payments as determined and specified below. With respect to any such Severed Employee that accepts the
Company’s offer of employment, no such Severance Payments shall be made to such Severed Employee provided that Limited Brands is notified in writing that such Severed Employee has accepted the Company’s offer of employment prior to Limited
Brands’ payment of Severance Payments to any such Severed Employee (which shall not occur until such Severed Employee’s termination of employment). In connection with the foregoing: (i) the Company and Limited Brands shall determine
by mutual agreement in good faith the amount of such Severance Payments for each Severed Employee and in each case such Severance Payments shall be no less than the amount of severance that would be paid if determined consistent with the
then-applicable guidelines of Limited Brands relating to severance payments (it being agreed that in no event shall the Company be responsible for any severance in any separate agreement between the Limited Entities and any affected employee which
provides for severance payments in addition to, or in lieu of, those provided by the then-applicable guidelines of Limited Brands relating to severance payments except for any severance obligations arising in customary agreements executed by Limited
Brands’ associates ranking Vice President or above which agreements do not provide for more than 12 months Severance Payments payable to such Limited Brands’ associates and in which case the severance provisions of the applicable customary
agreements shall govern the amount of Severance Payments to be made to each applicable Severed Employee); (ii) the Company shall pay a portion of the Severance Payments to be made to each Severed Employee in an amount equal to (A) the
aggregate Severance Payments to be paid to each such Severed Employee multiplied by (B) a percentage which Limited Brands and the Company shall determine in good faith by dividing the estimated amount of hours that each such Severed Employee
dedicated to performing the Services hereunder on an annualized basis by the total hours of work time for each such Severed

  

 2 

 
Employee on an annualized basis; and (iii) the Company and Limited Brands otherwise shall work collaboratively and each shall have an ongoing affirmative duty to endeavor in good faith,
using commercially reasonable efforts, to mitigate the amount of Disengagement Costs upon the termination of this Agreement and/or the cessation of any Service hereunder. Notwithstanding anything in this Agreement to the contrary, due to the one
time nature of the Disengagement Costs, the parties acknowledge and agree that in no event shall any allocated costs or mark-up be included in the calculation of the Disengagement Costs. 
 “Disengagement Services” means all Services provided hereunder primarily for the purpose of disengaging and transitioning
Services from Limited Brands to the Company. 
 “Limited Entities” means Limited Brands and its Subsidiaries,
and “Limited Entity” means any of the Limited Entities. 
 “Products” means apparel and
accessory or other merchandise (of a type typically sold by the Company) acquired for re-sale by the Company, 
 “Schedules” means Schedules I through XI hereto and any additional Schedule hereto by written agreement of the parties. 
 “Service Recipient” means the Company and Limited Stores, LLC (or any other entity receiving services equivalent to the Services on behalf of the business operated by Limited Stores, LLC
as of the Closing Date). 
 “Services” means all of the various ongoing and other services described in any and
all of the Schedules, together with the Disengagement Services. “Service” means any of the Services. 
 “Subsidiary” (and, collectively, “Subsidiaries”) means, at any time, with respect to any Person (the “Subject Person”), (1) any Person of which either (x) more than 50% of the
shares of stock or other interests entitled to vote in the election of directors or comparable Persons performing similar functions (excluding shares or other interests entitled to vote only upon the failure to pay dividends thereon or other
contingencies) or (y) more than a 50% interest in the profits or capital of such Person, are at the time owned or controlled directly or indirectly by the Subject Person or (2) any Person whose assets, or portions thereof, are consolidated
with the net earnings of the Subject Person and are recorded on the books of the Subject Person for financial reporting purposes in accordance with generally accepted accounting principles in effect in the country in which the Subject Person is
incorporated. 
 “Total Voting Power” means the aggregate number of Units of Express Holding then issued
and outstanding. 
  

 3 

 (b) Each of the following terms is defined in the Section set forth opposite such term:

  

			
	 Term
	  	Section
	 Additional Service(s)
	  	2.02
	 Administrative Charge
	  	3.01
	 Allocated Cost
	  	3.01
	 Assets
	  	3.03
	 Applicable Employee
	  	6.01
	 Capital Investment(s)
	  	3.08
	 Change of Control Notice
	  	5.05
	 Company Indemnified Person(s)
	  	4.06
	 Confidential Information
	  	6.01
	 Cost Component(s)
	  	3.01
	 Customary Billing
	  	3.01/3.04
	 Damages
	  	4.05
	 Fixed-Fee Billing
	  	3.01/3.07
	 Force Majeure
	  	6.04
	 Indemnified Party
	  	4.08
	 Indemnifying Party
	  	4.08
	 Limited Indemnified Person(s)
	  	4.04
	 Net Sales Ratio
	  	3.06
	 Non-Company Costs
	  	3.01
	 Non-Compliance Notice
	  	4.07
	 Pass-Through Billing
	  	3.01/3.05
	 Percent of Sales Billing
	  	3.01/3.06
	 Proposed Change
	  	3.10
	 Review Meetings
	  	4.03
	 Service Costs
	  	3.01
	 significant increase
	  	3.10
	 Specific Billing
	  	3.01
	 Subcontractor
	  	3.02

 Section 1.02. Internal Reference. Unless the context indicates otherwise,
references to articles, sections and paragraphs shall refer to the corresponding articles, sections and paragraphs in this Agreement and references to the parties shall mean the parties to this Agreement. 
 ARTICLE 2 
 PURCHASE AND SALE OF SERVICES 
 Section 2.01. Purchase and Sale of Services. (a) On the terms and subject to the conditions of this Agreement, Limited Brands agrees to provide to the Company, or procure the provision to the Company of, and the Company
agrees to purchase from Limited Brands, the Services. 
  

 4 

 (b) Notwithstanding anything herein to the contrary, (1) the
Services to be provided to the Company under this Agreement shall, at the Company’s request, be provided to each Subsidiary of the Company which is directly involved in the operation of Express stores, and (2) Limited Brands shall have the
right, in its sole and absolute discretion, to satisfy its obligation to provide or procure Services hereunder by causing one or more of its Subsidiaries (directly or through one or more Subcontractors as set forth in Section 3.02) to provide
or procure such Services in the manner set forth on the Schedules, (3) in no event shall Limited Brands be required to provide the Company with any Service for any fiscal year at volumes or levels more than 110% of the volumes or levels
provided to the Company in the immediately preceding fiscal year with respect to such Service and (4) with respect to all Services, except as otherwise expressly provided herein, Limited Brands will only make recommendations regarding such
services and the Company shall have the sole responsibility to make and will make all final decisions and determinations regarding the same. With respect to Services provided to, or procured on behalf of, any Subsidiary of the Company, the Company agrees to pay
or to cause such Subsidiary to pay all amounts payable by or in respect of such Services pursuant to this Agreement. 
 (c)
Notwithstanding anything in this Agreement to the contrary, Limited Brands shall not be obligated to provide any Service hereunder where the consent of a third party is reasonably required for the provision of such Service. Limited Brands and the
Company each shall use its reasonable commercial efforts to cooperate in obtaining any such consent (the terms of which shall not impose any obligations or conditions on Limited Brands) and the Company shall bear any and all out-of-pocket costs
incurred in connection with the obtaining of such consent. 
 Section 2.02. Additional Services. In addition to the
Services to be provided or procured by Limited Brands in accordance with Section. 2.01, if requested by the Company, and to the extent that Limited Brands and the Company may mutually agree, Limited Brands shall provide additional services to the
Company (the “Additional Services”, and each an “Additional Service”). The scope of any such Additional Services, as well as the term, costs, and other terms and conditions applicable to such Additional Services,
shall be as mutually agreed by Limited Brands and the Company and shall be reflected in amendments or additions to the Schedules as mutually agreed by Limited Brands and the Company. It is understood and agreed that (1) Limited Brands shall be
under no obligation to provide or procure any such Additional Service requested by the Company and (2) any decision to provide or procure any such Additional Service shall be made by Limited Brands in its sole discretion. 
 ARTICLE 3 
 SERVICE COSTS 
 Section 3.01. Service Costs Generally. (a) The
Schedules indicate, with respect to each Service listed therein, whether the costs to be charged to the Company for such Service are determined by (1) the customary billing method

  

 5 

 
described in Section 3.04 (“Customary Billing”), (2) the pass-through billing method described in Section 3.05 (“Pass-Through Billing”),
(3) the percentage of net sales method described in Section 3.06 (“Percent of Sales Billing”), (4) the fixed fee method described in Section 3.07 (“Fixed Fee Billing”), (5) a specific
billing method to be mutually agreed upon by the Company and Limited Brands (“Specific Billing”), which may include, without limitation, a cost-plus billing method based upon the aggregate costs incurred by Limited Brands relative
to the particular Service plus a percentage of such costs in consideration of Limited Brands’ procurement and administration (hereinafter referred to as an “Administrative Charge”) of such Service or (6) some combination
thereof. The amounts calculated by the Limited Entities pursuant to the Customary Billing, Pass-Through Billing, Percent of Sales Billing, Fixed Fee Billing and Specific Billing methods applicable to Services provided to the Company and charged to
the Company as provided herein, together with any and all Disengagement Costs incurred in connection with the provision of any and all Disengagement Services, are collectively referred to herein as the “Service Costs.” 

(b) The Company agrees to pay to Limited Brands or its designee in the manner set forth in Section 3.09 the Service Costs applicable
to each of the Services actually provided or procured by Limited Brands. 
 (c) The Service Costs calculated pursuant to each of
the specific billing methods described herein may include without limitation (and without duplication) one or more of the following costs: (1) direct (i.e., out-of-pocket) costs incurred by the Limited Entities in providing the Services,
(2) a reasonably and fairly allocated portion of costs or expenses (including without limitation service-specific overhead costs and the costs of depreciation of new and existing assets) incurred by one or more of the Limited Entities in
providing services to one or more of the Limited Entities, their Affiliates and the Company (each, an “Allocated Cost”), and (3) third party costs incurred by the Limited Entities in providing the Services (each of (1)-(3), a
“Cost Component,” and collectively, the “Cost Components”). 
 (d) The parties intend and
agree that this Agreement provide for the orderly and efficient, transition of the Company and its business to stand-alone functionality and that the methods of calculation of each of the Service Costs hereunder shall permit the Limited Entities to
receive full reimbursement for all overhead, administrative and supervisory costs and expenses incurred directly or indirectly by the Limited Entities in connection with the provision of the Services consistent with the manner in which Limited
Brands charges and/or receives reimbursement from its Affiliates from time to time (including, without limitation, one or more of the Cost Components) together with any other amounts agreed to by the parties including, but not limited to, specified
mark-ups as provided in the Schedules or as otherwise agreed by the parties. Except as otherwise provided herein or in any of the Transaction Documents, the method of allocating Service Costs (including, without limitation, with respect to each of
the Cost Components) hereunder shall be generally consistent with the 2007 cost allocation

  

 6 

 
attached hereto as Exhibit 3.01(d). It is further understood and agreed that when any Service Costs for Services hereunder are to be determined or agreed upon by Limited Brands and the
Company (whether before or after the Closing Date), such Service Costs shall, except as otherwise set forth in this Agreement, in all events include all pertinent Cost Components, plus if mutually agreed to by the parties, an Administrative Charge
therefor. 
 Section 3.02. Subcontractors. Limited Brands shall have the right, directly or through one or more
Subsidiaries, to hire or engage one or more subcontractors or other third parties (each, a “Subcontractor”) to perform all or any of its obligations under this Agreement; provided, however, and notwithstanding the foregoing, Limited
Brands shall retain responsibility for the provision of such Services to the Company but shall not be responsible for any actions or omissions of any Subcontractors including, but not limited to, the negligence and/or misconduct of any such
Subcontractors. If Limited Brands elects to commence the provision of specified Services hereunder through a Subcontractor that is not engaged with respect to the Service in question by Limited Brands as of the date hereof, then the Company shall
have the right to terminate such specified Services on ten days prior written notice to Limited Brands and to engage such Subcontractor to perform such specified Services directly for the Company and the Company shall have no further liability or
obligation to Limited Brands with respect to such terminated Service except as set forth in Section 4.05 and Section 5.03(a) of this Agreement. 
 Section 3.03. Title to Assets; Methods, etc. (a) All procedures, methods, systems, strategies, tools, equipment, facilities and other resources used by any Limited Entity in connection
with the provision of Services hereunder (including all intellectual property rights whether existing or created in connection with the provision of the Services or otherwise) (collectively, the “Assets”) shall remain the property
of such Limited Entity and shall at all times be under the sole direction and control of Limited Brands; provided, however, and unless Limited Brands is prohibited by Law or contractual restriction, Limited Brands hereby assigns to the Company any
and all of its rights and/or ownership interests (as the case may be), if any, to any and all design information (whether with respect to apparel, real estate or otherwise) that is exclusively associated with the Company or the Express brand and
that currently exists or is created as a result of Limited Brands’ provision of the Services hereunder. 
 (b)
Notwithstanding any other provisions of this Agreement, but subject to the terms of Section 4.01 of this Agreement, Limited Brands shall have the right in its sole discretion to modify or change the methods of operation and delivery of the
Services so long as such modification or change does not materially and adversely impact the functionality of the Services for their intended use. 
  

 7 

 Section 3.04. Customary Billing. The Service Costs to which the Customary
Billing method applies shall, subject to Section 3.01(c) and (d), be calculated on a basis that is substantially equivalent to the basis on which costs are attributed (whether through direct or indirect charges, allocations or otherwise)
from time to time, now or in the future, to other companies or businesses operated by Limited Brands for the same or comparable services (including, without limitation, one or more of the Cost Components), plus an Administrative Charge therefor;
provided, that (i) in respect of any particular Services, if Limited Brands does not generally attribute costs associated with the same or comparable services to other companies or businesses operated by Limited Brands as provided above, then
the Customary Billing method for such Services shall be equivalent to the market value of all Services provided by Limited Brands personnel and other Persons (including, without limitation, all Cost Components) which are reasonably allocable to the
provision of such Services to the Company and (ii) if Limited Brands provides financial relief from time to time to any companies or businesses operated by Limited Brands with respect to any costs, fees, expenses and/or allocations that are
otherwise generally allocated to or paid by companies or businesses operated by Limited Brands, the Company shall not be entitled to the same financial relief. 
 Section 3.05. Pass-Through Billing. The costs of Services to which the Pass-Through Billing method applies shall, subject to Section 3.01(c) and (d), be equal to the aggregate amount of
the third-party costs and expenses incurred (which costs shall include but not be limited to adjustments for attributable rebates and the costs incurred in connection with obtaining the consent of any party to a contract or agreement to which any
Limited Entity is a party where such consent is related to and reasonably required for the provision of any Service; it being agreed that Limited Brands shall consult in advance with the Company prior to incurring any such cost to obtain the consent
of the third party, and shall obtain the Company’s approval to incur such cost, which approval shall not be unreasonably withheld) by any Limited Entity on behalf of the Company, plus an Administrative Charge therefor. 
 Section 3.06. Percent of Sales Billing. The costs of Services to which the Percent-of-Sales Billing method applies shall,
subject to Section 3.01(c) and (d), be equal to the amount obtained by multiplying (x) the aggregate cost incurred each month by the Limited Entities in providing such Services to one or more businesses of Limited Brands and to all
Service Recipients by (y) the Net Sales Ratio for such month, plus an Administrative Charge therefor. “Net Sales Ratio” means the net sales of the Company for a particular month divided by the aggregate net sales of all
businesses of Limited Brands, combined with (i) the net sales of the Company to which costs for such month are being allocated and (ii) the net sales of any Service Recipient other than Company receiving such Services to which costs for
such month are being allocated. In order to permit Limited Brands to calculate the billing method provided for in this Section 3.06 (and for no other purpose), the Company shall provide Limited Brands with all reasonably necessary sales
information not later than the close of business on the first Business Day immediately following such calendar month. 
  

 8 

 Section 3.07. Fixed Fee Billing. The cost of Services to which the Fixed Fee
Billing method applies shall be in the amount set forth in the applicable Schedule. 
 Section 3.08. Capital
Investments. (a) Subject to clauses (b)-(c) hereto, Limited Brands shall have the right from time to time to make such capital investments as one or more of the Limited Entities deems reasonably necessary to support performance of the
Services. Costs incurred by Limited Brands in connection with such capital investments (including without limitation transportation and installation costs) (“Capital Investments”, and each a “Capital Investment”)
shall be part of the Service Costs (in addition to any Service Costs determined pursuant to any of the billing methods described in Section 3.01(a) hereof), it being agreed that there shall be no allocation of any of the Limited Entities’
internal costs, and no mark-up with respect to any Capital Investment) and shall be reimbursed by the Company pursuant to the procedures set forth in Section 3.09(c). 
 (b) Unless otherwise provided in Schedule IV hereto, Capital Investment costs incurred by Limited Brands on the Company’s behalf in
connection with store design and construction shall be paid for by the Company directly. 
 (c) For Capital Investments
specifically incurred on behalf of the Company which support the Services hereunder, the Company shall reimburse Limited Brands for, and shall retain title to, such Capital Investments. Limited Brands shall consult with the Company with respect to
any such Capital Investment in excess of $100,000 and for any Capital Investments from and after such time as the aggregate amount of all Capital Investments exceeds $1,000,000; provided, that the foregoing shall not apply to any
work-in-progress Capital Investments relating to stores and/or other items of which the Company has been apprised as of the date of this Agreement (each of which are described in Exhibit 3.08(c) attached hereto); provided, further,
that if the Company declines to pay for such Capital Investment, Limited Brands may terminate such Service if, in the reasonable judgment of Limited Brands, the provision of such Service is not practicable without the making of such Capital
Investments, and the Company shall have no further liability or obligations to Limited Brands with respect to such terminated Service except as set forth in Section 4.05 and Section 5.03(a) of this Agreement. 
 Section 3.09. Invoicing and Settlement of Costs. (a) Limited Brands shall (or shall cause one or more of the Limited
Entities to) invoice the Chief Financial Officer of the Company on a monthly basis (not later than the fifteenth day of the following month), for the Service Costs (including, without limitation, invoices for Disengagement Costs as contemplated by
Sections 5.01 and 5.03(a)(3) hereof) incurred in the prior month, and will provide to the Company the same billing data and level of detail as Limited Brands customarily provides to the other businesses operated by Limited Brands and such other
supporting data,

  

 9 

 
particularly in connection with Disengagement Costs, as the Company may reasonably request. Limited Brands shall use its commercially reasonable efforts to cause invoices to be presented to the
Company on the schedule set forth in this Article 3, but no delay in presentation of an invoice shall affect the Company’s obligation to pay the full amount of such invoice, when presented, on the terms set forth herein. 
 (b) Except as provided in Section 3.09(e) or as specifically provided elsewhere in this Agreement or in any Schedule hereto, the
Company agrees to pay on or before 30 days after the date on which Limited Brands invoices the Company for the Service Costs, all amounts invoiced by Limited Brands pursuant to Section 3.09(a). Such payments shall be made by the Company by wire
transfer of immediately available funds to an account designated by Limited Brands. 
 (c) Subject to Section 3.08(c), the
Company shall pay Limited Brands by wire transfer or other methods mutually agreeable to the parties, all amounts with respect to Capital Investments within 10 Business Days of the date on which Limited Brands invoices the Company for such Capital
Investments (either in whole or in part). Limited Brands shall be under no obligation to make any Capital Investment before receipt of the Company’s advance payment for such expenditure. 
 (d) If the Company fails to pay the full amount of any invoice under this Agreement within 15 days of the relevant payment due date, the
Company shall be obligated to pay, in addition to the amount due on such payment due date, interest on such amount at the greater of (1) 12% or (2) the Reference Rate plus 5%, in each case per annum compounded monthly from the relevant
payment due date through the date of payment; provided that such interest rate shall not exceed the maximum rate permitted by applicable law. All payments made shall be applied first to unpaid interest and then to amounts invoiced but unpaid.
If the Company fails to pay the full amount of any invoice within 30 days of the relevant payment due date, such failure shall be considered a material breach of this Agreement, and to the extent the aggregate amount of such overdue unpaid invoices
exceeds $250,000, Limited Brands may, after 10 days’ prior notice to the Company of its election to suspend, without liability suspend its obligations hereunder to provide any and/or all Services to the Company until such time as such invoices
have been paid in full. 
 (e) For certain Services, Service Costs may be invoiced to the Company on an estimated basis. In such
cases the method of estimation will be reasonably determined by Limited Brands and will be made available to the Company. Any estimated costs invoiced pursuant to this Section 3.09(e) shall be invoiced and paid pursuant to the procedures set
forth in this Section 3.09. At such point in time as the actual costs for any Services previously invoiced on an estimated basis are determined, Limited Brands will notify the Company of such actual costs (and provide reasonable supporting
documentation therefor) and will notify the

  

 10 

 
Company if any adjustment is necessary to reimburse one party for any difference between the actual and estimated costs. If in any case (1) an adjustment is necessary in favor of the
Company, Limited Brands will reimburse the Company for the amount of such adjustment at the time such notice is given and (2) an adjustment is necessary in favor of Limited Brands, Limited Brands will provide an invoice to the Company therefor
and the Company shall reimburse Limited Brands for the amount of such adjustment no later than 30 days after receipt of such invoice. Limited Brands shall have the right to notify the Company of such adjustment and, as applicable, to receive payment
from the Company or make payment to the Company for the amount of such difference, whether or not such notification and adjustment is made with respect to any Limited Entity receiving comparable services. 
 Section 3.10. Amended Schedules. (a) Prior to January 31 of each year for so long as the relevant Services continue to
be provided under this Agreement, Limited Brands may not more than once with respect to each upcoming Fiscal Year of Limited Brands prepare and deliver to the Company amended versions of the Schedules, setting forth with respect to the Services
described in such Schedules, proposed changes in any of the methodologies used to calculate the Service Costs (each, a “Proposed Change”) and, to the extent available, the Service Costs estimated to be payable for such Services for
the then current Fiscal Year of Limited Brands. Except as the Company and Limited Brands may otherwise agree, and except as specifically described in this Agreement, any Proposed Change shall be accompanied by a statement providing reasonable
justification of, and support for, such Proposed Change. Upon receipt of any notice of a Proposed Change, the Company shall, within 21 days, provide a written statement to Limited Brands stating any objection to the Proposed Change and the reasons
therefor. Limited Brands and the Company shall work together in good faith to resolve any such objections in a manner reasonably satisfactory to both parties. In any case, after all Proposed Changes for a Fiscal Year have been submitted to the
Company, Limited Brands shall be available for a meeting at the Company’s request to review all such Proposed Changes prior to the date such Proposed Changes are to take effect. Subject to Section 3.10(b), all Proposed Changes shall take
effect no sooner than 60 days after notification to the Company of such Proposed Changes, but not before February 1 of the applicable fiscal year (e.g., a Proposed Change delivered in November 2007 would take effect on February 1,
2008). 
 (b) Notwithstanding any other provision of this Agreement, if a Proposed Change for a particular Service would result
in a significant increase in the amount of Service Costs that the Company would be obligated to pay under this Agreement as compared to those that would be payable were such Proposed Change not made, then the Company shall have the right during such
60-day period following receipt of notice of such Proposed Change to terminate such Service upon written notice to Limited Brands, and such termination shall be effective within the time period specified in the pertinent Schedule (or if not so
specified, within 30 days after Limited Brands’ receipt of such notice of

  

 11 

 
termination). If the Company terminates such Service in accordance with this Section 3.10(b); Limited Brands shall continue to provide such Service until the effective date of such
termination on the financial terms (or reasonable estimate thereof) existing prior to the Proposed Change. For purposes of this paragraph, a “significant increase” means an aggregate increase of more than 10% over the total amount
of Service Costs applicable to any such Service during the previous Fiscal Year of Limited Brands (it being agreed that the terms and conditions of this Section 3.10 shall not apply with respect to the Services described in Schedule VIII —
Production and Sourcing Support Services); provided, such increase is at least $100,000 with respect to any allocated overhead cost and provided such increase is at least $500,000 with respect to any non-allocated overhead cost (each
such amount as annually adjusted for changes pursuant to the U.S. Department of Commerce Services Index). 
 ARTICLE 4

 PROVISION OF SERVICES; INDEMNIFICATION 
 Section 4.01. General Standard of Service. Except as otherwise agreed with the Company or expressly provided in this Agreement,
and provided that Limited Brands or any of its Affiliates is not restricted by contract with third parties or by applicable law, Limited Brands agrees that the nature, quality, and standard of care applicable to the delivery of the Services
hereunder shall be substantially the same as that of the Services which Limited Brands generally provides from time to time, now or in the future, to its Subsidiaries and Affiliates throughout its companies or businesses. Management of and control
over the provision of the Services (including without limitation the determination or designation at any time of the Assets, employees and other resources of the Limited Entities to be used in connection with the provision of the Services) shall
reside solely with Limited Brands. Without limiting the generality of the foregoing, all labor matters relating to any associates of Limited Brands and its Subsidiaries (including, without limitation, any associates of any Limited Entity involved in
the provision of Services to the Company) shall be within the exclusive control of Limited Brands, and the Company shall take no action affecting such matters. 
 Section 4.02. Ownership of Products. Notwithstanding any other provision of this Agreement, and except as otherwise expressly provided in the Schedules or in a separate written agreement that
is not, by its terms, superceded by this Agreement, title to all Products or other materials that are transported, shipped, warehoused or otherwise held in the custody of any Limited Entity on behalf of the Company shall at all times remain with the
Company, and the Company shall at all times be the owner of record of such Products or other materials, and, subject to Section 4.04, shall be solely responsible for any matters arising from or relating to such Products or other materials.

  

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 Section 4.03. Review Meetings. The parties agree to hold review meetings (the
“Review Meetings”) not less than once each Fiscal Year of Limited Brands on a date to be set by management of Limited Brands with the consent of the Company, which shall not be unreasonably withheld, conditioned or delayed.
Representatives of the Company and of all Limited Entities which are providing Services to the Company at the time of the meeting shall attend the Review Meeting and shall review and discuss any operational, strategic or other issues raised by any
participant with respect to the provision of the Services, including any Proposed Changes pursuant to Section 3.10 prior to their effective date. The parties intend that information exchanged at such Review Meetings shall be in addition to
ongoing communication between representatives of the Company and the Limited Entities with respect to the provision of the Services hereunder. 
 Section 4.04. Limitation of Liability. (a) The Company agrees that none of the Limited Entities and their respective directors, officers, partners, members, managers, agents, and
employees (each, a “Limited Indemnified Person”, and collectively, “Limited Indemnified Persons”) shall have any liability, whether direct or indirect, in contract or tort or otherwise, to the Company or any other
Person for or in connection with the Services rendered or to be rendered by any Limited Indemnified Person pursuant to this Agreement, the transactions contemplated hereby or any Limited Indemnified Person’s actions or inactions in connection
with any such Services or transactions, except for damages which have resulted from such Limited Indemnified Person’s gross negligence or willful misconduct in connection with any such Services, actions or inactions or breach of such Limited
Indemnified Person’s obligations hereunder. 
 (b) Notwithstanding the provisions of Section 4.04(a) or any other
provision of this Agreement, none of the Limited Indemnified Persons shall be liable for any special, indirect, incidental, punitive or consequential damages of any kind whatsoever (including, without limitation, attorneys’ fees) in any way due
to, resulting from or arising in connection with any of the Services or the performance of or failure to perform Limited Brands’ obligations under this Agreement. This disclaimer applies without limitation (1) to claims arising from the
provision of the Services or any failure or delay in connection therewith; (2) to claims for lost profits or lost opportunities; (3) regardless of the form of action, whether in contract, tort (including negligence), strict liability, or
otherwise; and (4) regardless of whether such damages are foreseeable or whether Limited Brands has been advised of the possibility of such damages. 
 (c) In addition to the foregoing, the Company agrees that it shall, in all circumstances, use commercially reasonable efforts to mitigate and otherwise minimize its and its Subsidiaries’ damages,
whether direct or indirect, due to, resulting from or arising in connection with any failure by Limited Brands to comply fully with its obligations under this Agreement. 
 Section 4.05. Indemnification of Limited Brands by the Company. The Company agrees to and shall indemnify and hold harmless each Limited Indemnified Person from and against any and all damage,
loss, liability and expense (including, without limitation, reasonable expenses of investigation and

  

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reasonable attorneys’ fees and expenses in connection with any action, suit or proceeding) (“Damages”) incurred or suffered by any Limited Indemnified Person arising out of
or in connection with Services rendered or to be rendered by any Limited Indemnified Person pursuant to this Agreement, any transaction entered into in connection with the Services to be performed hereunder or any Limited Indemnified Person’s
actions or inaction in connection with any such Services or transactions; provided that the Company shall not be responsible for any damages of any Limited Indemnified Person that have resulted from such Limited Indemnified Person’s
negligence or willful misconduct in connection with any of the advice, actions, inaction, or Services referred to above (it being understood and agreed that the provision by any Limited Entity of any of the Services without obtaining the consent of
any party to any contract or agreement to which any Limited Entity is a party as of the date hereof shall not constitute negligence or willful misconduct by any Limited Entity). 
 Section 4.06. Indemnification of the Company by Limited Brands. Except as set forth in Section 4.07, Limited Brands agrees
to indemnify and hold harmless the Company and its Subsidiaries and their respective directors, officers, partners, members, managers, agents, and employees (each, a “Company Indemnified Person”, and collectively “Company
Indemnified Persons”) from and against any and all Damages incurred or suffered by any Company Indemnified Person arising out of the gross negligence or willful misconduct of any Limited Indemnified Person in connection with the Services
rendered or to be rendered pursuant to this Agreement. Notwithstanding the provisions of this Section 4.06 or any other provision of this Agreement, none of the Limited Indemnified Persons shall be liable for any special, indirect, incidental,
punitive or consequential damages of any kind whatsoever (including, without limitation, attorneys’ fees) in any way due to, resulting from or arising in connection with any of the Services or the performance of or failure to perform Limited
Brands’ obligations under this Agreement. This disclaimer applies without limitation (1) to claims arising from the provision of the Services or any failure or delay in connection therewith; (2) to claims for lost profits or lost
opportunities; (3) regardless of the form of action, whether in contract, tort (including negligence), strict liability, or otherwise; and (4) regardless of whether such damages are foreseeable or whether Limited Brands has been advised of
the possibility of such damages. 
 Section 4.07. Notice of Certain Matters. If the Company at any time believes
that Limited Brands is not in full compliance with its obligations under this Agreement, the Company shall so notify Limited Brands in writing promptly (but not later than 30 days), after becoming aware of such possible non-compliance by Limited
Brands. Such notice (a “Non-Compliance Notice”) shall set forth in reasonable detail the basis for the Company’s belief as well as the Company’s view as to the steps to be taken by Limited Brands to address the possible
non-compliance. For the 30 days after receipt of such a notice, appropriate representatives of Limited Brands and the Company shall work in good faith to develop a plan to resolve the matters referred to in the

  

 14 

 
Non-Compliance Notice. If such matters are not resolved through such discussions, the Company may elect to terminate Limited Brands’ obligation to provide or procure, and its obligation to
purchase, the Service or Services referred to in its Non-Compliance Notice in accordance with Section 5.02. In the event such matters are resolved through such discussions, the Company shall not be entitled to deliver another Non-Compliance
Notice or pursue other remedies with respect to same or any substantially similar matter so long as Limited Brands complies in all material respects with the terms of such resolution, if any. 
 Section 4.08. Indemnification Procedures. (a) Each party and any other indemnified persons shall be entitled to the
indemnity described in this Article 4, provided that, in the case of third party claims, the following conditions are met (the party obliged to provide indemnification is referred to as the “Indemnifying Party,” and the party
entitled to be indemnified is referred to as the “Indemnified Party”): 
 (1) Promptly upon learning of any
claim for which indemnification is sought from the Indemnifying Party, the Indemnified Party shall notify the Indemnifying Party of such claim and shall furnish to the Indemnifying Party all information known and reasonably available to the
Indemnified Party related to such claim; provided that any failure to comply with the provisions of this clause (1) shall not relieve the Indemnifying Party of its indemnification obligations except to the extent such failure shall have
adversely prejudiced the Indemnifying Party. 
 (2) In the event of the commencement of litigation on the basis of such claim,
the Indemnified Party shall tender the defense of such litigation to the Indemnifying Party, and the Indemnifying Party shall promptly assume and thereafter diligently prosecute the defense of such claim, and the Indemnifying Party shall bear all
Damages in connection therewith, using counsel selected by the Indemnifying Party (which shall be subject to the Indemnified Party’s approval, which shall not be unreasonably withheld, conditioned or delayed). The Indemnified Party shall be
entitled to engage separate counsel and participate in such defense; provided that the fees and expenses and such separate counsel shall be paid by the Indemnified Party unless the interests of the Indemnified Party and the Indemnifying Party
are in conflict so that they cannot be adequately represented by the same counsel, in which event the reasonable fees and expenses of such separate counsel shall be paid by the Indemnifying Party following a final determination of the
indemnification liabilities hereunder. 
 (3) Neither the Indemnifying Party nor the Indemnified Party shall settle any such
claim without the prior written consent of the other party, which consent may be withheld in the other party’s sole discretion if such settlement would require the expenditure of funds by the other party or admit on behalf of, or otherwise
attribute to, the other party any fault or misconduct. To the extent that both Limited Brands and the Company are required to bear damages, claims, costs and expenses with respect to a particular claim, the intent of Limited Brands and

  

 15 

 
the Company is that they shall bear such damages, claims, costs and expenses in proportion to their respective degrees of responsibility for such claim as allocated in this Article 4 or, if not
allocated herein, then in accordance with their respective percentages of fault or responsibility for such claims. 
 (b) Except
as otherwise specifically set forth herein, the terms of this Article 4 shall provide the exclusive remedy for monetary damages of Limited Indemnified Persons and Company Indemnified Persons with respect to Damages associated with the matters set
forth in this Agreement. 
 ARTICLE 5 
 TERM AND TERMINATION 
 Section 5.01. Term. Except as otherwise provided in this Article 5 or as otherwise agreed in writing by the parties, this Agreement shall be effective as of the date hereof and Limited Brands’ obligation to provide or
procure, and the Company’s obligation to purchase, each Service hereunder shall cease as of the earlier of (a) the date of termination of this Agreement or a particular Service as determined in accordance with Section 5.02 hereof or
(b) the applicable termination date for such Service as set forth in the applicable Schedule (or if no termination date is specified, the 3rd anniversary of the date of this Agreement). 
 Notwithstanding anything contained herein to the contrary, the Company shall be solely responsible for and shall pay to Limited Brands in
accordance with the provisions of Section 3.09 hereof any and all Disengagement Costs incurred in connection with the provision of any and all Disengagement Services. 
 Section 5.02. Termination by the Parties. 
 (a) In addition to any rights of termination otherwise expressly provided for under this Agreement, the Company may terminate Services hereunder if Limited Brands shall have failed to perform any of its
material obligations under this Agreement relating to such Service, the Company has notified Limited Brands in writing of such failure, and such failure shall have continued for a period of 30 days after receipt by Limited Brands of written notice
of such failure. 
 (b) In addition to any rights of termination otherwise expressly provided for under this Agreement:
(i) Limited Brands, at its option, may terminate Services hereunder if the Company shall have failed to perform any of its material obligations under this Agreement relating to such Service, Limited Brands has notified the Company in writing of
such failure, and such failure shall have continued for a period of 30 days after receipt by the Company of written notice of such failure and (ii) Limited Brands, at its option, may terminate this Agreement or any Services hereunder by
providing written notice of termination to the Company upon or following a Change of Control of the Company. 
  

 16 

 Section 5.03. Transfer of Associates. Notwithstanding anything in the Schedules
to the contrary, in the event that Limited Brands and the Company mutually agree in writing or otherwise to transfer any Limited Brands’ associates to Express during the term of this Agreement, Limited Brands’ obligation to provide the
specific Services that were performed by the Limited Brands’ associates so transferred to the Company, and the Company’s obligation to accept and pay for such Services, shall cease effective as of the date of the transfer, unless the
parties agree otherwise. 
 Section 5.04. Effect of Termination. 
 (a) Upon termination of any Service pursuant to this Agreement, or upon termination of this Agreement in accordance with its terms, Limited
Brands shall have no further obligation to provide the terminated Service (or any Service, in the case of termination of this Agreement) or to perform its obligations hereunder relating to any such terminated Service, and the Company shall have no
obligation to purchase any such Services from Limited Brands, pay any fees relating to such Services or make any other payments hereunder; provided that the foregoing shall not in any way operate to impair or destroy any of the rights or
remedies of either party or to relieve either party of its obligations to comply with the provisions of this Agreement which have accrued prior to the effective date of termination. Notwithstanding such termination, but subject to the other terms of
this Agreement, (1) the Company shall remain liable to Limited Brands for all Service Costs incurred before or after the effective date of termination of this Agreement by any Limited Entity on behalf of the Company to the extent that such
Services Costs were incurred in connection with or to assist Limited Brands in the provision of any Services prior to the effective date of the termination (including without limitation (A) the aggregate outstanding amount of any capital
expenditure incurred by any Limited Entity on behalf of the Company in accordance with the terms of this Agreement, and (B) any amounts owed under any noncancelable or other contract or agreement entered into by any Limited Entity on behalf of
or for the benefit of the Company with the prior written consent of the Company); (2) Limited Brands shall continue to charge the Company for administrative and program costs and Administrative Charges relating to benefits paid after but
incurred prior to the termination of any Service and other services reasonably required to be provided after the termination of such Service and the Company shall be obligated to pay such expenses in accordance with the terms of this Agreement;
(3) the Company shall be responsible for and shall pay to Limited Brands in accordance with the provisions of Sections 3.09 and/or 5.01 hereof all Disengagement Costs relating to the termination of any Service hereunder for any reason; and
(4) the provisions of Articles 3,4, 5 and 6 shall survive any such termination indefinitely. 
 (b) Limited Brands shall
invoice the Company for the aggregate outstanding amount payable to Limited Brands pursuant to Section 5.03(a)(l), (a)(2) and (a)(3), and the Company shall pay such amount within 30 days of receipt of such invoice, by wire transfer of
immediately available funds to an account designated by Limited Brands. 
  

 17 

 (c) As soon as practicable, and in any event no later than 30 days after termination of this
Agreement or any of the Services hereunder in accordance with the terms of this Agreement, each party shall return to the other party in accordance with such other party’s instructions and at such other party’s expense, all of the other
party’s materials and Confidential Information in its possession or control (including, without limitation, all Confidential Information and any copies thereof) relating to the terminated Service (or if the Agreement is terminated in its
entirety, all such materials and Confidential Information). 
 (d) Following the delivery of a notice with respect to the
termination of any Service, Limited Brands and the Company, commencing promptly following such notice, shall cooperate in good faith to provide for an orderly transition of such Service to the Company or to a successor service provider in accordance
with a transition schedule reasonably requested by the Company. 
 Section 5.05. Notification of Change of Control.
To the extent permitted by applicable law, the Company shall promptly notify Limited Brands of any Change of Control of the Company (or any definitive agreement, arrangement or plan which, if consummated, would result in such a Change of Control
of the Company), setting forth the date and circumstances of such Change of Control of the Company and the identity of the third party(ies) involved in such Change of Control of the Company (such notice, the “Change of Control
Notice”). 
 ARTICLE 6 
 MISCELLANEOUS 
 Section 6.01. Confidential Information;
Non-Solicitation. (a) Confidential Information. Either party may provide to the other party certain confidential, proprietary and trade secret business and technical information in connection with the performance of this Agreement
(“Confidential Information”). All information shall be presumed to be Confidential Information unless such information is generally available to the public (other than by the receiving party in violation of this Section 6.01)
or if a disclosing party acknowledges in writing that such information is not Confidential Information. Each party shall preserve the confidentiality of all Confidential Information that is provided by the other party in connection with this
Agreement, and shall not, without the prior written consent of the other party, disclose, display or make available to any Person, or use for its own or any other Person’s benefit, other than as necessary in performance of its obligations under
this Agreement, any Confidential Information of the other party; provided that a party may disclose such portion of the Confidential Information relating to the other party to the extent, but only to the extent, that the disclosing party
reasonably believes that such disclosure is required in connection with litigation between the parties hereto relating directly to this Agreement, under applicable law, pursuant to court order

  

 18 

 
or as a consequence of the rules of a securities exchange; provided, further that the disclosing party first notifies the other party hereto of such requirement and allows such party a
reasonable opportunity to seek a protective order or other appropriate remedy to prevent such disclosure. The parties shall exercise a commercially reasonable standard of care to safeguard all Confidential Information of the other party against
improper disclosure or use. The parties acknowledge that money damages would not be a sufficient remedy for any breach of the provision of this Section 6.01 and that the non-breaching party shall be entitled to equitable relief in a court of
law in the event of, or to prevent, a breach or threatened breach of this Section 6.01. 
 (b) Notwithstanding the
provisions of Section 6.01(a), upon a Change of Control of the Company, the Company shall (1) promptly (but in no event later than 10 days after the occurrence of such Change of Control of the Company) return to Limited Brands or destroy
all Confidential Information in its possession (or in the possession of any of its Affiliates) relating to Limited Brands or any of its Affiliates, (2) no longer be permitted to use such Confidential Information in its business or operations
(or the business or operations of any of its Affiliates) and (3) promptly (but in no event later than 30 days after the occurrence of such Change of Control of the Company) deliver a written certificate to Limited Brands executed by the
Company’s Chief Executive Officer expressly acknowledging the obligations set forth in clauses (1) and (2) of this sentence and certifying that the Company has and will continue to adhere to such requirements. 
 (c) Third-Party Non-Disclosure Agreements. To the extent that any third-party proprietor of information or software to be disclosed
or made available to the Company in connection with performance of Services requires a specific form of non-disclosure agreement as a condition of its consent to use of the same for the benefit of the Company or to permit the Company access to such
information or software, the Company will execute (and will cause the Company employees to execute, if required) any such form. 
 (d) Non-Solicitation. (i) From the date hereof and until the expiration of 12 months from the termination of all of the Services under this Agreement, and except as otherwise expressly provided in the Schedules or in this
Agreement, (A) Limited Brands hereby agrees to abide by the non-solicitation restrictions contained in Section 9.04(d) of the LLC Agreement to the same extent as if it were a “Member” and (B) none of the Company nor any of
its controlled Affiliates will (nor shall the Company, so long as it is controlled by Golden Gate Private Equity, Inc., permit Golden Gate Private Equity, Inc. and its managed investments funds to) without the prior written consent of Limited
Brands, directly or indirectly solicit any Applicable Employee for employment, encourage any Applicable Employee to leave Limited Brands’ or its Affiliates’ employ or employ any Applicable Employee. “Applicable Employee”
means any employee of Limited Brands or any of its Affiliates who has performed any of the Services under this Agreement or with whom the Company or any of its Affiliates otherwise has had any contact at any time during the performance of the
Services hereunder. 
  

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 (ii) Notwithstanding anything contained in this Agreement or in the
Schedules to the contrary, including, but not limited to, Section 6.01(d)(i) above, Limited Brands and the Company will jointly develop an orderly process whereby, for a reasonable period of time prior to the scheduled termination of any
specific Services hereunder, employees of the Limited Entities whose job duties are primarily comprised of providing the specific Services scheduled to be terminated hereunder will be given the opportunity to become employees of the Company.

 (iii) Further notwithstanding anything in this Agreement or in the Schedules to the contrary, including, but
not limited to, Section 6.01(d)(i) above, if the Company wishes to hire (under circumstances other than as described in Section 6.01(d)(ii) above) any employees of the Limited Entities whose job duties are primarily comprised of providing
specific Services hereunder, Limited Brands and the Company will jointly develop an orderly process whereby such employees may be given the opportunity to become employees of the Company so long as there is no adverse financial impact to the Limited
Entities in connection with transferring such employees to the Company and/or terminating early the specific Services which such employees provide unless the Company agrees to fully compensate Limited Brands for the full amount of said adverse
financial impact. 
 Section 6.02. Audits. (a) Throughout the term of this Agreement and for 1 year thereafter,
the Company shall have the right once within each 12 month period, at its own expense and on 30 days advance written notice to Limited Brands, to have its auditors or other representatives audit the books and records of any Limited Entity for the
sole purpose of certifying the accuracy of the Service Costs and Cost Components charged by Limited Brands to the Company in accordance with the terms of this Agreement for the preceding 12-month period. The Company shall provide to Limited Brands a
copy of each such audit report promptly after its receipt thereof. In the event that any such audit indicates any overpayment or underpayment of amounts paid to Limited Brands by the Company, the applicable party shall pay to the other party (within
30 days following the date of delivery of such audit report to Limited Brands) the amount of such overpayment or underpayment, as the case may be, plus (if the overpayment or underpayment amount exceeds $100,000.00) interest accruing monthly from
the date of such overpayment or underpayment until such amount is paid at the Reference Rate, compounded monthly from the relevant payment due date through the date of payment (provided that such interest rate shall not exceed the maximum
rate permitted by applicable law). 
 (b) Notwithstanding any other provision of this Agreement, upon a Change of Control of the
Company, (1) the Company only shall be permitted to exercise its rights under Section 6.02(a) by employing the services of a third party

  

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auditor reasonably acceptable to Limited Brands, (2) the Company and its Affiliates shall have no access to such auditor’s workpapers and (3) such auditor shall agree in writing to
be bound by a confidentiality agreement with respect to the foregoing on terms reasonably acceptable to Limited Brands. 
 Section 6.03. No Agency. (a) Nothing in this Agreement shall constitute or be deemed to constitute a partnership, agency or joint venture between the parties hereto or, except as is necessary for performance of the
Services, shall constitute or be deemed to constitute any party the agent or employee of the other party for any purpose whatsoever and neither party shall have authority or power to make any statements, representations or commitments of any kind,
take any action which shall be binding on the other, or bind the other or to contract in the name of, or create a liability against, the other in any way or for any purpose. 
 (b) Nothing in this Agreement shall establish or be deemed to establish any fiduciary relationship between the parties hereto. The
parties’ respective rights and obligations hereunder shall be limited to the contractual rights and obligations expressly set forth herein on the terms and conditions set forth herein. 
 (c) Except as otherwise specifically provided for herein, each party shall be responsible for compliance with all applicable laws, rules,
regulations and orders of governmental authorities, for obtaining required licenses and permits, for the payments of all applicable taxes and for the conduct and compensation of its employees. 
 Section 6.04. Force Majeure. (a) Neither party shall be held liable or responsible to the other party nor be
deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement when such failure, or delay is caused by or results from causes beyond the reasonable control of the affected
party, including, but not limited to, fire; floods; storms; embargoes, war or acts of war (declared or undeclared); insurrections, riots or other civil commotions; acts of terrorism, strikes, lockouts, or other labor disturbances; explosions;
sabotage; accidents; governmental orders; changes in statutes, rules or regulations; delays by unaffiliated suppliers or carriers; shortages of fuel, power, raw materials or components; acts of God; or acts, omissions, or delays in acting by any
governmental or military authority, or the other party (collectively, “Force
Majeure”); provided, however, it is understood that (i) this Section 6.04 only operates to suspend, and not to discharge, a party’s obligations under this Agreement, and that when the causes of the failure or delay are
removed or alleviated the affected party shall resume performance of its obligations hereunder and (ii) this Section 6.04 shall not excuse a party’s obligation to pay money; provided, that the Company shall not be obligated to pay for
any particular Service during the pendency of the Limited Entities’ failure to provide such particular Service. A party that is unable to fulfill its obligations due to any Force Majeure event shall (1) promptly after the occurrence
thereof give notice to the other party with details of such event and (2) use its commercially reasonable efforts to remedy such event as promptly as

  

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practicable. If Limited Brands is unable to provide any of the Services due to Force Majeure, both parties shall exert commercially reasonable efforts to cooperatively seek a solution that is
mutually satisfactory, such as the subcontracting of all or part of the provision of the Services under the supervision of Limited Brands for the period of time during or affected by the Force Majeure. 
 (b) Promptly on becoming aware of Force Majeure causing a delay in performance or preventing performance of any obligations imposed by this
Agreement (and termination of such delay), the Company shall have the right, but not the obligation, to engage Subcontractors to perform such obligations for the duration of such period that Force Majeure delays or prevents the performance of such
obligation by a party. 
 Section 6.05. Entire Agreement; Successors and Assigns. (a) This Agreement (including
the Schedules constituting a part of this Agreement) and any other writing signed by authorized representatives of the parties after the date hereof that specifically references this Agreement constitute the entire agreement among the parties with
respect to the subject matter hereof and supersede all prior agreements, understandings and negotiations, both written and oral, between the parties with respect to the subject matter hereof. This Agreement is not intended to confer upon any Person
other than the parties hereto any rights or remedies hereunder. 
 (b) This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto. Except as expressly provided herein, neither party may assign, delegate, or otherwise transfer any rights or duties under this Agreement to any party without the prior written
consent of the other party hereto. 
 Section 6.06. Notices. (a) Any notice, instruction, direction or demand
under the terms of this Agreement required to be in writing shall be duly given upon delivery, if delivered by hand, facsimile transmission (with the original copy promptly thereafter delivered by mail), or mail, to the following addresses:

  

	 	(i)	If to the Company to: 

 Express,
LLC 
 One Limited Parkway 
 Columbus, Ohio 43230 
 Fax: (614) 415-4858 
 Attention: Chief Financial Officer 
 with a copy (which shall not constitute notice) to: 
 Kirkland & Ellis LLP

 555 California Street 
 San Francisco, CA 94104 
  

 22 

 Fax: (415) 439-1680 
 Attention: Mikaal Shoaib 
  

	 	(ii)	If to Limited Brands, to: 

 Limited Brands, Inc. 
 Three Limited Parkway 
 Columbus, OH 43230 
 Fax: (614) 415-7188 
 Attention: Office of General Counsel 
 with copies (which shall not constitute notice) to: 
 Limited Brands, Inc. 
 Three Limited Parkway 
 Columbus, OH 43230 
 Fax: 614-415-8098 
 Attention: Office of Treasurer 
 Vorys Sater Seymour and Pease LLP 
 52 E. Gay Street 
 P. O. Box 1008 
 Columbus, OH 43216-1008 
 Fax: 614-719-5028 
 Attention: John P. Wellner, Esq. 
 or to such other addresses or telecopy number and with such other copies, as such party may hereafter specify for the purpose by notice to the other parties. All such notices, requests and other
communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m 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. Each such notice, request or other communication shall be effective (1) if given by telecopy, when such telecopy is transmitted to the
telecopy number specified in this Section and evidence of receipt is received or (2) if given by any other means, upon delivery or refusal of delivery at the address specified in this Section 6.06. 
 (b) Notwithstanding the provisions of 6.06(a) above, the parties hereto hereby expressly acknowledge and agree that any notices, consents or
approvals contemplated to be given by either party to the other hereunder in connection with the day-to-day implementation or provision of particular Services pursuant to the ordinary course of business may be given orally or in writing other than
in accordance with Section 6.06(a) above by director-level employees (or above), which notices, consents and/or approvals shall be binding and on which notices, consents and/or approvals the other party shall be entitled to rely. The parties
further acknowledge and agree that this Section 6.06(b) is intended solely to facilitate the effective and efficient provision of the Services contemplated by this

  

 23 

 
Agreement and it is not intended to, nor shall it be interpreted to, (i) permit the giving of any other type of notices, direction or demand other than in accordance with the provisions of
said Section 6.06(a) or (ii) increase or decrease billing methods, Service Costs or the scope of Services under this Agreement. 
 Section 6.07. Governing Law. This Agreement shall be construed in accordance with the laws of the State of Ohio, without regard to conflict of laws and rules of such state. 
 Section 6.08. Jurisdiction. Except as otherwise expressly provided in this Agreement, the parties hereto agree that any suit,
action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated thereby shall be brought either in (i) the United States District Court for
the Southern District of Ohio, Eastern Division or (ii) the Court of Common Pleas of Franklin County, Ohio, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts
therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or
that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the
jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 6.06 shall be deemed effective service of process on such party. 
 Section 6.09. WAIVER OF JURY TRIAL. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 6.10.
Severability. If any provision of this Agreement shall be invalid or unenforceable, such invalidity or unenforceability shall not render the entire Agreement invalid. Rather, the Agreement shall be construed as if not containing the
particular invalid or unenforceable provision, and the rights and obligations of each party shall be construed and enforced accordingly. 
 Section 6.11. Amendment. (a) This Agreement may not be amended or modified except in writing signed by the parties hereto. 
 (b) Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by the party or parties entitled
to the benefit thereof. Any such waiver shall be validly and sufficiently authorized for the purposes of this Agreement if it is memorialized in writing by the waiving party. No course of dealing, manner of performance or failure of any party hereto
to

  

 24 

 
enforce at any time any provision of this Agreement shall be construed to be a waiver of such provision, nor in any way to affect the validity of this Agreement or any part hereof or the right of
any party thereafter to enforce each and every such provision in accordance with its terms. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 
 Section 6.12. Counterparts. This Agreement may be executed in separate counterparts, each of which shall be deemed an original
and all of which, when taken together, shall constitute one agreement. An executed copy or counterpart hereof delivered by facsimile shall be deemed an original instrument. 
 Section 6.13. Headings; Interpretation and Construction. The headings to sections of this Agreement and the table of contents to
this Agreement are inserted for convenience of reference only and in no way define, limit or describe the scope of this Agreement or the meaning of any provisions of this Agreement. The words “include,” “includes,”
”including” and “such as” are deemed to be followed by the phrase, “without limitation,”. All references to “$” or “dollars” shall be to United States dollars and all references to
“days” shall be to calendar days unless otherwise specified. Any reference to the masculine, feminine or neuter gender shall include such other genders, and references to the singular or plural shall include the other, in each case
unless the context otherwise requires. The Schedules hereto shall be deemed to be incorporated in and an integral part of this Agreement. In the event of any conflict or inconsistency between the terms and conditions of this Agreement and the terms
and conditions of any of the Schedules, the terms and conditions of the Schedules shall prevail to resolve any inconsistency. 
 Section 6.14. Mutual Contribution. The parties to this Agreement and their counsel have mutually contributed to its drafting. Consequently, no provision of this Agreement shall be construed against any party on the ground that
party drafted the provision or caused it to be drafted. 
 [Remainder of page intentionally left blank; next page is signature
page] 
  

 25 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their duly
authorized representatives to be effective as of the date first written above. 
  

			
	LIMITED BRANDS, INC.
		
	By:	 	/s/ Timothy J. Faber
		 	Timothy J. Faber
	Its:	 	Vice President –
		 	Treasury, Mergers & Acquisitions
	
	EXPRESS, LLC
		
	By:	 	/s/ Douglas L. Williams
		 	Douglas L. Williams
	Its:	 	Senior Vice President –
		 	Enterprise General Counsel

  

 26

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