Document:

Stock Purchase Agreement dated August 29, 2005

 Exhibit 10.7 
  
 EXECUTION COPY 
  
 COMMON STOCK PURCHASE AGREEMENT 
  
 by and among 
  
 dELiA*s, Inc. 
  
 (the “Company”) 
  
 and 
  
 the Investors set forth on Schedule A hereto 
  
 Dated as of August 29, 2005 

 COMMON STOCK PURCHASE AGREEMENT 
  
 This COMMON STOCK PURCHASE AGREEMENT (this “Agreement”) is
entered into as of August 29, 2005 by and between dELiA*s, a Delaware corporation (the “Company”), and the investors set forth on Schedule A attached hereto (each an “Investor” and collectively, the
“Investors”). 
  
 A.    WHEREAS, the Alloy, Inc. (“Alloy”), the Company’s current ultimate parent corporation, is contemplating spinning off the Company by means of a distribution of all of the Company’s common
stock owned by Alloy on a pro-rata basis to the holders of Alloy’s common stock as of a to be determined record date (the “Spinoff Record Date”); and 
  
 B.    WHEREAS, in connection with the Spinoff, and in order to raise capital for the Company’s
contemplated retail store rollout program and for general working capital, the Company is contemplating effecting a rights offering, pursuant to which holders of the Company’s common stock as of a to be determined date after the effective date
of the Spinoff (the “Rights Offering Record Date”), would be issued, at no cost, rights to purchase shares of common stock, par value $.001 per share, of the Company (the “Common Stock”), which rights would permit
the holders thereof the ability to purchase such Common Stock at per share purchase price that equates to a pre-money valuation for the Company, after giving effect to the Spinoff and as adjusted to account for the dilutive impact of options and
warrants that will be outstanding immediately following the Spinoff pursuant to the treasury stock method but without regard to the transactions contemplated hereby, of $175 million (the “Purchase Price”); and 
  
 C.    WHEREAS, each of the Investors is an
“Executive Officer” of the Company (as such term is defined in Regulation D (“Reg D”) promulgated by the Securities and Exchange Commission (the “SEC) under the Securities Act of 1933, as amended (the
“Securities Act”), or otherwise qualifies as an “accredited investor” under the provision of Reg D; and 
  
 D.    The Company contemplates preparing and filing with the SEC a registration statement on Form S-1, pursuant to which the shares of
Common Stock to be issued in connection with the Spinoff and Rights Offering would be registered with the SEC, and in connection therewith, is preparing a prospectus (the “Prospectus”) that will be included in such registration
statement and sent to (i) holders of Alloy common stock as of the Spinoff Record Date and (ii) holders of the Company’s common stock as of the Rights Offering Record Date; and 
  
 E.    WHEREAS, the Company wishes to issue and sell to
the Investors, and the Investors wish to purchase from the Company, shares of common stock, par value $0.001 per share of the Company (the “Common Shares”). 
  
 NOW, THEREFORE, in consideration of the foregoing, the parties hereto, intending legally to be bound, hereby agree as
follows (terms with initial capital letters used herein without immediate definition shall have the meanings set forth in Schedule B attached hereto): 

 Section 1.    Purchase and Sale of the Securities 
  
 1.1    Securities.    Subject
to the terms and conditions set forth in this Agreement, each Investor, severally and not jointly, hereby agrees to purchase from the Company that number of shares of Common Stock at the per share Purchase Price as equals the dollar amount set forth
opposite such Investors name on Schedule A hereto. All such Common Shares which may be issued and purchased pursuant to the terms of this Agreement shall be referred to hereinafter as the “Shares.” 
  
 1.2     Closing.    The
closing of the transactions contemplated pursuant to the Agreement (the “Closing”) shall take place at 10:00 A.M. at the offices of the Company on the 2nd business day after which all conditions to Closing set forth below have been
satisfied, or at such other time and place as the Company and Investors mutually agree upon in writing. If acceptable to the Company and the Investors, the Closing may be effected by facsimile transmission of executed copies of the documents
delivered at the Closing and payment of the purchase price by wire transfer and by sending original copies of the documents delivered at the Closing by reputable overnight delivery service, postage or delivery charges prepaid, for delivery to the
parties at their addresses stated on the signature page of this Agreement by the first business day following the Closing. At the Closing, the Company shall deliver to each Investor a certificate representing the Shares that such Investor is
purchasing against payment of the purchase price therefor by wire transfer of immediately available funds. 
  
 Section 2.    Representations and Warranties of the Company 
  
 In order to induce each Investor to enter into this Agreement and to
purchase the Shares to be purchased by it hereunder, the Company represents and warrants to each Investor and agrees with each Investor, the following are true and correct as of the date hereof and shall be true and correct as of the Closing
hereunder: 
  
 2.1    Shares.    The Company has, or will have prior to the Closing, duly authorized the issuance, delivery and sale to the Investors of the Shares. The Shares, when issued, sold and delivered
pursuant to the terms of this Agreement, will be validly issued, fully-paid and nonassessable, will be free and clear of any Encumbrance. 
  
 2.2    Organization Standing, Power, Authority, Qualification.    The Company is a duly organized and
validly existing corporation in good standing under the laws of the State of Delaware with full power and authority necessary (a) for the execution and delivery of this Agreement and the Registration Rights Agreement and the performance of its
obligations hereunder and thereunder; (b) to own, lease and operate its properties; and (c) to carry on its business as proposed to be conducted. The Company is duly qualified and in good standing as a foreign corporation in each
jurisdiction in which the failure so to qualify could have a Material Adverse Effect, and is duly authorized, qualified and licensed under all Laws or otherwise, to carry on its business in the places and in the manner conducted and to own its
properties and Assets. 
  

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 2.3    Capitalization.    As of the effective date of the
Spinoff, the capitalization of the Company shall be as set forth in the Prospectus under the heading “Capitalization.” 
  
 2.4    Governing Documents.    The amended and restated certificate of incorporation of the Company (the
“Certificate”), and the amended and restated bylaws of the Company (the “Bylaws”), as are to be in effect at the effective time of the Spinoff shall be in the forms attached as exhibits to the registration statement
of which the Prospectus will be part. 
  
 2.5    Enforceability of Agreements.    The Company has duly taken all corporate action necessary to authorize the execution, delivery and performance of this Agreement and the Registration
Rights Agreement. This Agreement and the Registration Rights Agreement constitutes (or, in the case of the Registration Rights Agreement, will constitute upon execution and delivery thereof at the Closing) the valid and binding agreement of the
Company, enforceable against the Company in accordance with its terms. 
  
 2.6    No Violations.    Neither the execution, performance or delivery of this Agreement or the Registration Rights Agreement, nor the consummation of any transaction contemplated hereby or
thereby, including, without limitation, the issuance and sale of the Shares as provided herein, conflicts with or will conflict with or has constituted (with due notice or lapse of time, or both) or resulted in or will constitute or result in a
breach of or default (or give rise to any right of termination, cancellation or acceleration) under the provisions of any Contract or agreement to which the Company is a party or by which it is bound, or the Certificate or Bylaws of the Company or
the violation of any Judgment, Law or Permit to which the Company is a party or by which it or its Assets are bound, which, singly or in the aggregate, would have a Material Adverse Effect. 
  
 2.7    Offering.    Subject to
the accuracy of the representations and warranties of the Investors in Section 3 of this Agreement, the offer, sale and issuance of the Shares as contemplated by this Agreement are exempt from the registration requirements of the
Securities Act, and neither the Company nor any authorized Person acting on its behalf will take any action hereafter that would cause the loss of such exemption. The Company has complied and will comply with all applicable state “blue
sky” or securities laws in connection with the offer, sale and issuance of the Securities as contemplated by this Agreement. 
  
 Section 3.    Representations and Warranties of the Investors 
  
 Each Investor severally represents and warrants to the Company as of the
date hereof and as of the date of each Subsequent Closing hereunder in which such Investor participates that: 
  
 3.1    Investment Representation.    Such Investor is acquiring the Shares for investment purposes, and not
with a view to selling or otherwise distributing any thereof. The Investor understands that the Shares have not been registered under the Securities Act by reason of their issuance in transactions exempt from the registration and prospectus delivery
requirements of the Securities Act pursuant to Section 4(2) thereof and agrees to deliver to the Company, if requested by the Company, an investment letter in customary form. The Investor further understands that the certificates representing
the Shares will bear the following legend or one similar thereto and agrees that it will hold such Shares subject thereto: 
  

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	THE ISSUANCE OF THE SHARES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY
PORTION HEREOF OR INTEREST HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF UNLESS THE SAME IS REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE AND
THE COMPANY SHALL HAVE RECEIVED, AT THE EXPENSE OF THE HOLDER HEREOF, EVIDENCE OF SUCH EXEMPTION REASONABLY SATISFACTORY TO THE COMPANY (WHICH MAY INCLUDE, AMONG OTHER THINGS, AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY).

  
 3.2    Authorization; Enforceability.    Such Investor has taken all necessary action to authorize its execution, delivery and performance of this Agreement and the Registration Rights
Agreement. This Agreement constitutes, and the Registration Rights Agreement will constitute, upon execution and delivery thereof at any Closing, its legal, valid and binding agreement. 
  
 3.3    Accredited Investor.    Such Investor is an “accredited
investor” as defined in Reg D. 
  
 3.4    Suitability and Sophistication.    The Investor (i) has such knowledge and experience in financial and business matters that the Investor is capable of independently evaluating the
risks and merits of purchasing the Shares; (ii) such Investor has independently evaluated the risks and merits of purchasing the Shares and has independently determined that the Shares are a suitable investment for the Investor; and
(iii) such Investor has sufficient financial resources to bear the loss of the Investor’s entire investment in the Shares. 
  
 3.5    Brokers.    No Investor has retained, utilized or been represented by any investment bank, broker or
finder in connection with the transactions contemplated by this Agreement. 
  
 Section 4.    Conditions Precedent to Closing by the Investors 
  
 4.1    Closing.    The obligations of each Investor to the Company shall be subject to the satisfaction on
or before the Closing of each of the following conditions, except to the extent that such satisfaction is waived by such Investor in writing: 
  
 (a)    Representations of the Company.    All of the representations and warranties of the Company
contained in this Agreement shall have been true and correct in all material respects as of the date of this Agreement and shall be true in all material respects as of the Closing as if made on and as of such Closing. 
  
 (b)    Performance by the
Company.    All of the covenants, terms and conditions of this Agreement and the Registration Rights Agreement to be satisfied or performed 

  

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by the Company on or before such Closing shall have been satisfied or performed in all material respects. 
  
 (c) Consents. All Consents of any Governmental Authority or any other
Person, including, but not limited to, the stockholders of the Company that are required in connection with the execution, delivery and performance of this Agreement and the Registration Rights Agreement, or the consummation of the transactions
contemplated hereby or thereby, shall have been obtained. 
  
 (d)
Actions. All corporate and other actions taken or required to be taken by the Company and its board of directors and stockholders in connection with the execution, delivery and performance of this Agreement and the Registration Rights
Agreement, or the consummation of the transactions contemplated hereby or thereby, shall have been taken. 
  
 (e) Absence of Proceedings. No Proceeding shall have been instituted or threatened on or before such Closing by any Person, no Judgment shall have
been issued, and no new Law shall have been enacted, that seeks to or does prohibit or restrain, or that seeks damages as a result of, the consummation of the transactions contemplated by this Agreement and the Registration Rights Agreement.

  
 (f) Spinoff and Rights Offering. All conditions
precedent to the Spinoff and Rights Offering shall have been satisfied and the Spinoff Record Date and Rights Offering Record Date shall have been established. 
  

Section 5. Conditions Precedent to Closing by the Company 
  
 Each obligation of the Company to each Investor shall be subject to the satisfaction on or before each Closing of each of
the following conditions, except to the extent that such satisfaction is waived by the Company in writing: 
  
 5.1 Representation of the Investors. All representations and warranties of each Investor contained in this Agreement shall have been true in all
material respects as of the date of this Agreement and shall be true as of such Closing as if made on and as of such Closing. 
  
 5.2 Payment of Purchase Price. Each Investor shall have made payment of the purchase price for the Shares purchased by such Investor by wire
transfer or cashiers’ check. 
  
 5.3 Consents. All
Consents of any Governmental Authority or any other Person that are required in connection with the execution, delivery and performance of this Agreement and the Registration Rights Agreement, or the consummation of the transactions contemplated
hereby or thereby, shall have been obtained. 
  
 5.4
Actions. All corporate and other actions taken or required to be taken by the Investors in connection with the execution, delivery and performance of this Agreement and the Registration Rights Agreement, or the consummation of the
transactions contemplated hereby or thereby, shall have been taken. 
  

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 5.5 Absence of Proceedings. No Proceeding shall have been instituted or threatened on or before
such Closing by any Person, no Judgment shall have been issued, and no new Law shall have been enacted, that seeks to or does prohibit or restrain, or that seeks damages as a result of, the consummation of the transactions contemplated by this
Agreement and the Registration Rights Agreement. 
  
 5.6
Spinoff and Rights Offering. All conditions precedent to the Spinoff and Rights Offering shall have been satisfied and the Spinoff Record Date and Rights Offering Record Date shall have been established. 
  
 Section 6. Closing Deliveries 
  
 6.1 Deliveries of the Company at the Closing. At the Closing, the
Company shall deliver to the Investors the following: 
  
 (a)
Stock Certificates. Stock certificates in the name of each Investor representing the Shares purchased by such Investor hereunder. 
  
 (b) Registration Rights Agreement. The Registration Rights Agreement in the form attached hereto as Exhibit A, dated as of such Closing,
duly executed by the Company and each Investor. 
  
 (c) Other
Documents. All other agreements, certificates, instruments and documents reasonably requested from the Company in order to fully consummate the transactions contemplated by this Agreement and the Registration Rights Agreement and carry out the
purposes and intent of this Agreement and the Registration Rights Agreement. 
  
 6.2 Deliveries of the Investors at the Closing. At the Closing, each Investor shall deliver to the Company the following: 
  

(a) Purchase Price. Subject to and in accordance with Section 1.2 hereof, the Purchase Price for the Shares being purchased by such
Investor at the Closing, by cashiers’ check or wire transfer. 
  
 (b) Registration Rights Agreement. The Registration Rights Agreement in the form attached hereto as Exhibit A, dated as of the Closing, duly executed by such Investor. 
  
 Section 7. Indemnification 
  
 7.1 Indemnification Obligations of the Company. In addition to all
rights and remedies available to the Investors at law or in equity, the Company shall indemnify, defend and hold harmless each of the Investors and each subsequent holder of the Shares, and their respective parents, subsidiaries, shareholders,
officers, directors, partners, employees, agents, representatives, Affiliates, Associates, successors, heirs and assigns (all of the foregoing are collectively referred to as the “Indemnified Parties”) from and against, and pay on
behalf of or reimburse such Indemnified Party as and when incurred with respect to, all Proceedings, Judgments, Obligations, losses, damages, settlements, assessments, deficiencies, Taxes, fines and 

  

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costs and expenses, whether or not arising out of any claims by or on behalf of any third party, including interest, penalties, reasonable attorneys’
fees and expenses and all reasonable amounts paid in investigation, defense or settlement of any of the foregoing (collectively, “Losses”), which any such Indemnified Party may suffer, sustain or become subject to, as a result of,
in connection with, relating or incidental to or by virtue of any of the following: 
  
 (a) Any misrepresentation, breach or failure of any representation or warranty made by the Company in this Agreement or the Registration Rights Agreement; or 
  
 (b) Any failure or refusal by the Company to satisfy or perform any term or
condition of this Agreement or the Registration Rights Agreement required to be satisfied or performed by the Company; 
  
 7.2 Indemnification Payments. All amounts owed by the Company to the Indemnified Party, if any, under this Section 7 shall be paid in
full by wire transfer of immediately available funds within three (3) business days after a final settlement or agreement as to the amount owed is reached, or after a final Judgment (without further right of appeal) determining the amount owed
is rendered to the Investors. 
  
 Section 8. Other
Provisions 
  
 8.1 Amendment. This Agreement may be
amended, modified or supplemented by the parties hereto, provided that any such amendment, modification or supplement shall be in writing and signed (or consented to in writing) by the Company and the holders of at least one-half (1/2) of
the Shares issued and outstanding (the “Consenting Investors”). Any amendment, modification or supplement effected in accordance with this Section 8.1 shall be binding on each subsequent holder of the Shares. 

 
 8.2 Waivers. No waiver by the Company with respect to this
Agreement shall be enforceable unless in writing and signed (or consented to in writing) by the Company, and no waiver by the Investors with respect to this Agreement shall be enforceable against the Investors unless in writing and signed (or
consented to in writing) by the Consenting Investors. Any waiver of the Investors effected in accordance with this Section 8.2 shall be binding on each subsequent holder of the Shares. Except as otherwise expressly provided herein, no
failure to exercise, delay in exercising, or single or partial exercise of any right, power or remedy by any party, and no course of dealing between or among any of the parties, shall constitute a waiver of, or shall preclude any other or further
exercise of the same or any other right, power or remedy. 
  
 8.3
Expenses. Each of the parties shall bear their own expenses incurred in connection with the preparation of this Agreement and the Registration Rights Agreement. 
  
 8.4 Notices. All notices, consents or other communications required or permitted to be given under this Agreement
shall be in writing and shall be deemed to have been duly given (a) when delivered in hand or by courier; (b) five (5) business days after being mailed by first class certified mail, return receipt requested, postage prepaid; or
(c) three (3) business days after being sent by a reputable overnight delivery service, postage or delivery charges prepaid, to the parties at their respective addresses. All Notices to be given hereunder shall be sent to the Investors at
their respective addresses stated on Schedule A hereto. Any party may 

  

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change its address for notice and the address to which copies must be sent by giving notice of the new addresses to any of the other parties in accordance
with this Section 8.4, except that any such change of address notice shall not be effective unless and until received. 
  
 8.5     Survival of Representations and Covenants. 
  
 (a)    All representations and warranties made in or pursuant to this Agreement shall survive each of
the Closings and the consummation of the transactions contemplated hereby and thereby for a period of one (1) year from such Closing. 
  
 8.6    Interpretation of Representations.    Each warranty and representation made by the Company in this
Agreement and the Registration Rights Agreement is independent of all other warranties and representations made by the Company (whether or not covering related or similar matters) and must be independently and separately satisfied. 
  
 8.7    Interpretation
Generally.    In view of the fact that each of the parties hereto has been represented by its own counsel (or given the opportunity to obtain such representation) and this Agreement has been fully negotiated by all parties,
the legal principle that ambiguities in a document are construed against the draftsperson of that document shall not apply to this Agreement. 
  
 8.8    Entire Understanding.    This Agreement and the Registration Rights Agreement, together with the
Disclosure Schedule, Exhibits and Schedules hereto and thereto, state the entire understanding among the parties with respect to the subject matter hereof and thereof, and supersede all prior oral and written communications and agreements, and all
contemporaneous oral communications and agreements, with respect to the subject matter hereof and thereof. Prior drafts of this Agreement shall not be admissible into evidence (regardless of any ambiguity in this Agreement) for any purposes
whatsoever. 
  
 8.9    Parties in
Interest.    This Agreement shall bind, benefit, and be enforceable by and against each party hereto and its successors and assigns. No party shall in any manner assign any of its rights or obligations under this Agreement
without the express prior written consent of the other parties (which, in the case of the Investors, shall mean the Consenting Investors). 
  
 8.10    Severability.    If any provision of this Agreement is construed to be invalid, illegal or
unenforceable, then the remaining provisions hereof shall not be affected thereby and shall be enforceable without regard thereto. 
  
 8.11    Counterparts.    This Agreement may be executed in any number of counterparts, each of which when
so executed and delivered shall constitute an original hereof, and it shall not be necessary in making proof of this Agreement to produce or account for more than one original counterpart hereof. 
  
 8.12    Section
Headings.    The section and subsection headings in this Agreement are for convenience of reference only, do not constitute a part of this Agreement, and shall not affect its interpretation. 
  

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 8.13    Controlling Law.    THIS AGREEMENT IS MADE UNDER,
AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED SOLELY THEREIN, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW. 
  
 8.14    Jurisdiction and
Process.    EACH OF THE PARTIES (A) IRREVOCABLY CONSENTS TO THE EXCLUSIVE JURISDICTION OF AND STATE OR UNITED STATES DISTRICT COURT LOCATED IN THE CITY OF NEW YORK, NEW YORK, IN ANY AND ALL ACTIONS BETWEEN OR AMONG ANY
OF THE PARTIES, WHETHER ARISING HEREUNDER OR OTHERWISE; (B) IRREVOCABLY WAIVES ITS RIGHT TO TRIAL BY JURY IN ANY SUCH ACTION; AND (C) IRREVOCABLY CONSENTS TO SERVICE OF PROCESS BY FIRST CLASS CERTIFIED MAIL, RETURN RECEIPT REQUESTED,
POSTAGE PREPAID, TO THE ADDRESS AT WHICH SUCH PARTY IS TO RECEIVE NOTICE IN ACCORDANCE WITH SECTION 8.4 IN ANY AND ALL ACTIONS BETWEEN OR AMONG ANY OF THE PARTIES, WHETHER ARISING HEREUNDER OR OTHERWISE, THE PREVAILING PARTY OR PARTIES SHALL
BE ENTITLED TO RECOVER THEIR REASONABLE ATTORNEYS’ FEES AND LEGAL EXPENSES FROM THE OTHER PARTY OR PARTIES. 
  
 8.15    No Third Party Beneficiaries.    No provision of this Agreement is intended to or shall be
construed to grant or confer any right to enforce this Agreement, or any remedy for breach of this Agreement, to or upon any Person other than the parties hereto, including, but not limited to, any customer, prospect, supplier, employee, contractor,
salesman, agent or representative of any of the parties hereto. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties have executed this Common Stock Purchase Agreement as of the date first
above written. 
  
 dELiA*s, INC.

  
  
 By: /s/    Robert E. Bernard            

 Name: Robert E. Bernard 
 Title: Chief Executive Officer 
  
  
  
 INVESTORS: 
  
  
 /s/    Robert E. Bernard             
 Robert E. Bernard 
  
  
 /s/    Walter
Killough               
 Walter Killough

  
  
 /s/    David Desjardins             
 David Desjardins 
  
  
 /s/    Cathy
McNeal                 
 Cathy McNeal

  
  
  
 /s/    Andrew Firestone           
 Andrew Firestone 

 SCHEDULE A 
  
 LIST OF INVESTORS 
  
 August 29, 2005 
  

									
	 	 	 Investor

	 	 	  	 Aggregate
 Purchase
 Price ($)

	  	 
		 		 	
	 	 	 Robert E. Bernard
  
	 	 	  	$ 1,000,000              
	  	 
		 		 	
	 	 	 Walter Killough
  
	 	 	  	70,000              
	  	 
		 		 	
	 	 	 David Desjardins
  
	 	 	  	50,000              
	  	 
		 		 	
	 	 	 Cathy McNeal
  
	 	 	  	50,000              
	  	 
		 		 	
	 	 	 Andrew Firestone
  
	 	 	  	30,000              
	  	 
		 		 	
	 	 	 TOTAL
  
	 	 	  	$ 1,200,000              
	  	 

  

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 SCHEDULE B 
  
 DEFINITIONS 
  
 The following definitions apply to this Agreement, which definitions shall apply whether the same word is used in this Agreement in the singular or
plural. 
  
 “Affiliate” means, with respect to
any Person, any of (a) a director, officer or stockholder holding ten percent (10%) or more of the capital stock (on a fully diluted basis) of such Person; (b) a spouse, parent, sibling or descendant of such Person (or a spouse,
parent, sibling or descendant of any director or officer of such Person); and (c) any other Person that, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, another Person.
The term “control” includes, without limitation, the possession, directly or indirectly, of the power to direct the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  
 “Asset” means any real, personal, mixed,
tangible or intangible property of any nature, including, but not limited to, cash assets, prepayments, deposits, escrows, accounts receivable, Tangible Property, Real Property, software, intangibles and goodwill, and claims, causes of action and
other legal rights and remedies. 
  
 “Associate”
shall have the meaning ascribed to such term in Rule 12(b)-2 promulgated under the Exchange Act. 
  
 “Consent” means any consent, approval, order or authorization of, or any declaration, filing or registration with, or any application or
report to, or any waiver by, or any other action (whether similar or dissimilar to any of the foregoing) of, by or with, any Person, which is necessary in order to take a specified action or actions in a specified manner and/or to achieve a
specified result. 
  
 “Contract” means, with
respect to any Person, any written or oral contract, agreement, instrument, order, arrangement, commitment or understanding of any nature, including, but not limited to, sales orders, purchase orders, leases, subleases, data processing agreements,
maintenance agreements, noncompetition agreements, license agreements, sublicense agreements, loan agreements, promissory notes, security agreements, pledge agreements, deeds, mortgages, guaranties, indemnities, warranties, employment agreements,
consulting agreements, sales representative agreements, joint venture agreements, buy-sell agreements, options, warrants, rights to sell or buy or rights of first refusal or offer. 
  
 “Encumbrance” means any lien, security interest, pledge, mortgage, easement, leasehold, assessment,
covenant, restriction, reservation, conditional sale, prior assignment, or other encumbrance, claim, burden or charge of any nature. 
  
 “Governmental Authority” means any (a) nation, state, province, local or other jurisdiction of any nature; (b) foreign,
federal, state, provincial, local or other government; (c) authority, agency, branch, department, court, tribunal, official or entity of any of the foregoing or of any quasi-governmental authority; (d) international or multinational
organization, authority, body or tribunal; or (e) other organization, body, authority or tribunal exercising or 

  

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entitled to exercise any administrative, executive, judicial, legislative, police, regulatory arbitration or taxing authority or power of any nature.

  
 “Judgment” means any order, writ, injunction,
citation, award, decree or other judgment of any nature of any Governmental Authority. 
  
 “Law” means any provision of any foreign, federal, state or local law, statute, ordinance, charter, constitution, treaty, rule or regulation of any Governmental Authority. 
  
 “Material Adverse Effect” means a material adverse effect on
the business, operations, Assets, obligations, financial condition or results of operations of the Company and its Subsidiaries taken as a whole. 
  
 “Obligation” means any debt, liability or obligation of any nature, whether secured, unsecured, recourse, nonrecourse, liquidated,
unliquidated, accrued, absolute, fixed, contingent, ascertained, unascertained, known, unknown or otherwise. 
  
 “Permit” means any license, permit, approval, waiver, order, authorization, right or privilege of any nature, granted, issued, approved
or allowed by any Governmental Authority. 
  
 “Person” means any individual, sole proprietorship, joint venture, partnership, corporation, association, cooperative, trust, estate, Governmental Authority or other entity of any nature. 
  
 “Proceeding” means any demand, claim, suit, action, cause of
action, equitable action, litigation, investigation, arbitration, administrative hearing or other proceeding of any nature. 
  
 “Real Property” means any real estate, land, building, condominium, townhouse, structure or other real property of any nature, all shares
of stock or other ownership interests in cooperative or condominium associations or other forms of ownership interest through which interests in real estate may be held, and all appurtenant and ancillary rights thereto, including, but not limited
to, easements, covenants, water rights, sewer rights and utility rights. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement in the form attached hereto as Exhibit A. 
  
 “Securities Act” means the Securities Act of 1933, as amended (the “Securities Act”). 

 
 “Tangible Property” means any furniture, fixtures,
leasehold improvements, vehicles, office equipment, computer equipment, other equipment, machinery, tools, forms, supplies, molds or other tangible personal property of any nature. 
  
 “Tax” means (a) any income, earnings, profits, gross receipts, franchise, capital stock, net worth,
sales, use, occupancy, general property, real property, personal property, intangible property, transfer, fuel, excise, license, environmental, value-added, customs, payroll, withholding, unemployment compensation, social security or other tax of
any nature imposed, assessed or collected by or under the authority of any Governmental Authority; (b) any organization fee, qualification fee, annual report fee, filing fee, occupation fee, assessment, 

  

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sewer rent or other fee or charge of any nature imposed, assessed or collected by or under the authority of any Governmental Authority; or (c) any
deficiency, interest or penalty imposed with respect to any of the foregoing. 
  
 * * * * * * * * * * 
  

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 EXHIBIT A 
  
 REGISTRATION RIGHTS AGREEMENT 
  

 -15-Form of Registration Rights Agreement

 Exhibit 10.8 
  
 dELiA*s, INC. 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the         
day of                     , 2005, by and between dELiA*s, Inc., a Delaware corporation (the “Company”), and each of the
persons listed on Schedule A hereto (collectively, the “Investors”). 
  
 WHEREAS, pursuant to that certain Common Stock Purchase Agreement of even date herewith by and between the Company and the Investors (the “Purchase Agreement”), the Investors have agreed to acquire
shares of common stock, par value $0.001 per share of the Company; and 
  
 WHEREAS, as an inducement for the Investor to enter into the Purchase Agreement, the Company and the Investors have agreed to enter into this Agreement. 
  
 NOW, THEREFORE, in consideration of the foregoing (incorporated herein by this reference) and the mutual promises and
covenants hereinafter set forth, the parties hereto hereby agree as follows: 
  
 1.     Certain Definitions.    As used in this Agreement, the following terms shall have the following respective meanings: 
  
 “Commission” means the Securities and Exchange Commission or
any other federal agency at the time administering the Securities Act. 
  
 “Common Shares” means shares of the Company’s common stock, par value $.001 per share. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal statute and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time. 
  
 “Holder” means each Investor, and all persons or entities to whom the rights granted under this Agreement are transferred by such Investor or his or her successors or assigns pursuant to Section [16] hereof. 
  
 “Indemnified Party” means each party entitled to
indemnification under Section 7 hereof. 
  
 “Indemnifying Party” means each party required to provide indemnification under Section 7 hereof. 
  
 “Other Sellers” means any other holders of equity securities of the Company having registration rights with respect to such equity
securities. 

 The terms “register,” “registered” and “registration”
refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 
  
 “Registration Expenses” means all expenses (excluding
Selling Expenses) of the Company and the Holder incurred in complying with Sections 2, 3, and 4 hereof, including, without limitation, all registration, qualification, listing and filing fees, printing expenses, escrow fees, fees and disbursements
of counsel for the Company and one special counsel for the Holder and Other Sellers, if any, blue sky fees and expenses, and the expense of any special audits incident to or required by any such registration (but excluding the compensation of
regular employees of the Company which shall be paid in any event by the Company). 
  
 “Registrable Securities” means (a) the Common Shares purchased by the Investors pursuant to the Purchase Agreement, and (b) any Common Shares of the Company issued or issuable in respect of
such Common Shares upon any subdivision, combination or reclassification of such Common Shares or any stock dividend in respect of such Common Shares; provided, however, that such Common Shares shall only be treated as Registrable
Securities if and so long as they (i) have not been sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction; (ii) have not been sold in a transaction exempt from the registration and
prospectus delivery requirements of the Securities Act under Section 4(1) thereof so that all transfer restrictions and restrictive legends with respect thereto are removed upon the consummation of such sale, or (iii) are not eligible for
sale without restriction pursuant to Rule 144(k) under the Securities Act or any successor rule thereto. 
  
 “Securities Act” means the Securities Act of 1933, as amended, or any similar federal statute and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time. 
  
 “Selling Expenses” means all underwriting discounts, selling commissions and share transfer taxes applicable to the securities registered by the Holder and all fees and disbursements of counsel of the Holder (other than the
fees and disbursements of one special counsel for the Holder and all Other Sellers, if any, as described in the definition of “Registration Expenses” above). 
  
 2.     Demand Registration. 
  
 2.1    Subject to the conditions of this Section 2, a Holder or Holders
holding in the aggregate at least a majority of the Registrable Shares then collectively held by all such Holders may request, in writing, that the Company effect a registration on Form S-1 (or any successor form) of Registrable Shares owned by such
Holder or Holders provided that the aggregate public offering price (before deduction of underwriters’ discounts and commissions) of the shares of Common Stock offered in such registration equals or exceeds $5,000,000. If the Holder or Holders
initiating the registration intend to distribute the Registrable Shares by means of an underwriting, he, she or they shall so advise the Company in their request. If such registration is underwritten, the right of other Holders to participate in
such registration shall be conditioned on such Holders’ participation in such underwriting. Upon receipt of any such request, the Company shall promptly give written notice of such proposed registration to all Holders. Such other Holders shall
have the right, by giving written notice to the Company within 30 days after the Company provides its notice, to elect to have 

  

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included in such registration all or a part of their Registrable Shares as such Holders may request in such notice of election. All Holders proposing to
distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with an underwriter or underwriters that are mutually agreeable to the Company and a majority in interest of the Stockholders.
Thereupon, the Company shall, at its own expense and as expeditiously as possible, use its commercially reasonable efforts to effect the registration, on Form S-1 (including, without limitation, the execution of an undertaking to file post-effective
amendments, appropriate qualification under applicable Blue Sky or other state securities laws and appropriate compliance with applicable regulations issued under the Securities Act and any other governmental requirements or regulations) as may be
so requested and as would permit or facilitate the sale and distribution of all or such portion of such Registrable Securities as are specified in such request. Subject to the limitations set forth in Section 2.3 below, equity securities
of Other Sellers or of the Company may be included a registration statement effected pursuant to a registration request made by the Holder or Holders in connection with this Section 2.1. 
  
 2.2    The Company shall not be obligated
to take any action to effect any registration pursuant to this Section 2: 
  
 (a)    after the Company has effected two (2) such registrations pursuant to this Section 2 and such
registrations have been declared or ordered effective; 
  
 (b)    during the period starting with the date of filing of, and ending on the date ninety (90) days immediately following the effective date of any registration statement pertaining to securities of the Company
(other than a registration of securities in a Rule 145 transaction, a registration on a Form S-3 pertaining to a non-underwritten offering, or with respect to registration relating to an employee benefit plan on a Form S-8), provided that the
Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or 
  
 (c)    if the Holder(s) proposes to dispose of shares of Registrable Securities that may be registered immediately on
Form S-3 pursuant to a request made under Section 3 below. 
  
 2.3    If a registration pursuant to this Section 2 is for a registered public offering involving an underwriting, the right of the Holders to participate in the registration pursuant
to this Section 2 shall be conditioned upon the Holder’s participation in the underwriting arrangements required by this Section 2 and the inclusion of the Holder’s Registrable Securities in the underwriting, to the
extent requested, to the extent provided herein. 
  
 (a)    The Company shall (together with the Holder(s) and Other Sellers proposing to distribute their securities through such underwriting, if any) enter into and perform its obligations under an underwriting agreement
in customary form with the managing underwriter selected or approved for such underwriting by the Company (which managing underwriter shall be reasonably acceptable to the Holders). Notwithstanding any other provision of this Section 2,
if the managing underwriter advises the Company in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise the Holder(s) and any such Other Sellers of the number of 

  

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shares of Registrable Securities that may be included in the registration and underwriting, and such number of shares shall be allocated first to the
Holder(s) pro rata based upon their total ownership of shares of Common Shares, and to the extent that after the Holder(s) have included all of the Registrable Securities they wish to include in the registration, any excess shares shall be allocated
among the Other Sellers. Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 
  
 (b)    If any Demand Registration is an underwritten offering with respect to any issue of Registrable Securities,
Holders holding a majority of the Registrable Securities being registered will select the investment banker or bankers and manager or managers of nationally recognized standing to administer the offering subject to the consent of the Company, such
consent not to be unreasonably withheld. 
  
 (c)    If any Holder of Registrable Securities disapproves of the terms of the underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the managing underwriter. The Registrable
Securities and/or other securities so withdrawn shall also be withdrawn from registration. 
  
 2.4    If with respect to the last registration permitted to be exercised by the Holders under Section 2.1, the
Holders are unable to register all of their Registrable Securities because of the operation of Section 2.3(a) hereof, the Holder shall be entitled to require the Company to effect one additional registration to afford the Holders an opportunity
to register all such Registrable Securities. Such additional registration shall again be subject to the provisions of this Section 2; provided, that under no circumstances will the Holders be entitled to more than three (3) registrations
in the aggregate pursuant to the provisions of this Section 2. 
  
 3.     Form S-3 Registration. 
  
 3.1    At any time after the Company becomes eligible to file a Registration Statement on Form S-3 (or any successor form relating to secondary offerings, hereinafter, “Form S-3”),
holders of a majority of the Registrable Shares will have the right to require the Company to effect a registration on Form S-3 of Registrable Shares provided that the aggregate public offering price (before deduction of underwriters’ discounts
and commissions) of the shares of Common Stock offered in such registration equals or exceeds $1,000,000. Upon receipt of any such request, the Company shall promptly give written notice of such proposed registration to all Holders. Such other
Holders shall have the right, by giving written notice to the Company within 30 days after the Company provides its notice, to elect to have included in such registration such of their Registrable Shares as such Stockholders may request in such
notice of election. Thereupon, the Company shall, as expeditiously as possible, use its best efforts to effect the registration on Form S-3 of all Registrable Shares that the Company has been requested to register. If the registration is for an
underwritten offering, the provisions of Section 2.3 shall be applicable; provided, that in such circumstances, all references in such Section 2.3 shall be deemed references to Section 3. 
  
 3.2    Notwithstanding the foregoing, the
Company shall not be obligated to take any action pursuant to this Section 3  
  

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 (a)    after the Company has effected two (2) such registrations
pursuant to this Section 3 in any twelve (12) month period and such registrations pursuant to this Section 3, and such registrations have been declared or ordered effective; or 
  
 (b)    if the Registrable Securities for
which the Holder(s) are requesting registration are then eligible for sale under Rule 144 of the Securities Act, and such Registrable Securities reasonably can be disposed within a ninety (90) day period, based on historical trading volume.

  
 4.    “Piggyback”
Registration. 
  
 4.1    If at any time or from time to time, the Company shall determine to register any of its securities for reasons other than (i) a registration relating solely to employee benefit plans, (ii) a registration
relating solely to a Commission Rule 145 transaction, or (iii) a registration on Form S-4 or S-8 or any successor form to such forms, the Company will: 
  
 (a)    give the Holders written notice at least forty five (45) days prior to the filing of any such
registration; and 
  
 (b)    include in such registration (and any related qualification under blue sky laws or other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a written request made
within forty five (45) days after receipt of such written notice from the Company by any Holder. 
  
 4.2    If the registration of which the Company gives notice is for a registered public offering involving an
underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 4.1 and the provisions of Section 2.3 shall apply, provided however, if the managing underwriter advises the
Company in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise the Holders and any Other Sellers of the number of shares of Registrable Securities that may be included in
the registration and underwriting shall be allocated first to the Other Seller(s) which initiated the request for registration, and then among the Holder sand the remaining Other Sellers in proportion, as nearly as practicable, to the respective
amounts of shares held by the Holders and such Other Sellers at the time of filing the registration statement. 
  
 5.    Expenses of Registration.    Except as specifically provided herein, all Registration Expenses shall
be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder shall be borne by the Holders and the Other Sellers, if any, of the securities so registered pro rata on the basis of the number of shares so
registered. 
  
 6.    Registration
Procedures.    In the case of each registration, qualification or compliance effected by the Company pursuant to this Agreement, the Company will keep the Holders advised in writing as to the initiation, qualification,
compliance and completion of each registration. At its expense the Company will: 
  
 6.1    Prepare and file with the Commission a registration statement with respect to such securities and use
commercially reasonable efforts to cause such registration statement to become and remain effective for at least one hundred eighty (180) days or, if earlier, until the 

  

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distribution described in the registration statement has been completed; provided, however, that in the case of any registration of Registrable
Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold, provided that if Rule
415, or any successor rule under the Securities Act, permits an offering on a continuous or delayed basis, and provided further that if applicable rules under the Securities Act governing the obligation to file a post-effective amendment permit, in
lieu of filing a post-effective amendment which (i) includes any prospectus required by Section 10(a)(3) of the Securities Act; or (ii) reflects facts or events representing a material or fundamental change in the information set
forth in the registration statement, the incorporation by reference of information required to be included in (i) and (ii) above shall be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the
registration statement. 
  
 6.2    Furnish to the Holders and to the underwriters of the securities being registered such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus and such other documents
as such underwriters may reasonably request in order to facilitate the public offering of such securities. 
  
 6.3    Prepare and file with the Commission such amendments and supplements to such registration statement and the
prospectus used in connection with such registration statements as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement. 
  
 6.4    At any time when a prospectus
relating to the registration statement is required to be delivered under the Securities Act, notify the Holders of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances then existing, and at the request of any
such seller, prepare and furnish to such seller a reasonable number of copies of each supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchaser of such shares, such prospectus shall not
include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances then existing. 
  
 6.5    Use commercially reasonable
efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required
in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions. 
  
 6.6    Cause all such Registrable Securities to be listed on each securities exchange or
automated quotation system on which similar securities issued by the Company are then listed. 
  
 6.7    Provide a transfer agent and registrar for all Registrable Securities and a CUSIP number for all such
Registrable Securities, in each case not later than the effective date of such registration. 
  

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 6.8    Make available for inspection by the Holders, any underwriter
participating in any disposition pursuant to such registration and any attorney or accountant retained by any the Holder or such underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the
Company’s officers and directors to supply all information reasonably requested by such Holder, underwriter, attorney or accountant in connection with such registration statement; provided, however, that such Holders, underwriter,
attorney or accountant shall agree to hold in confidence and trust all information so provided. 
  
 6.9    Furnish to the Holders: 
  
 (a)    in the case of an underwritten public offering, a copy of any opinion of counsel
for the Company provided to the underwriters participating in such offering, dated the effective date of the registration statement; 
  
 (b)    in the case of an underwritten public offering, a copy of any “comfort” letters provided to the
underwriters participating in such offering and signed by the Company’s independent public accountants who have examined and reported on the Company’s financial statements included in the registration statement, to the extent permitted by
the standards of the American Institute of Certified Public Accountants or other relevant authorities; and 
  
 (c)    a copy of all documents filed with and all correspondence from or to the Commission in connection with any such
offering other than non-substantive cover letters and the like. 
  
 6.10    Otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably
practicable, an earnings statement covering the period of at least twelve (12) months, but not more than eighteen (18) months, beginning with the first (1st) month after the effective date of the Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the
Securities Act. 
  
 6.11    In
connection with the preparation and filing of each Registration Statement under this Agreement, the Company will give the Holder and its underwriters, if any, and its respective counsel and accountants, the opportunity to review such registration
statement, each prospectus included therein or filed with the Commission, and each amendment thereof or supplement thereto, and will give Holder such access to the Company’s books and records and such opportunities to discuss the business of
the Company with its officers, its counsel and the independent public accountants who have certified the Company’s financial statements, as reasonably shall be necessary, in the opinion of Holder or such underwriters or their respective
counsel, in order to conduct a reasonable and diligent investigation within the meaning of the Securities Act. 
  
 7.    Indemnification. 
  
 7.1    To the extent permitted by law, the Company will indemnify the Holders and each underwriter, if any, and each
person who controls any underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or 

  

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actions in respect thereof), including any of the foregoing incurred in settlement of any litigation, commenced or threatened, arising out of or based on any
untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, offering circular or other document, or any amendment or supplement thereto, incident to any such registration, qualification or
compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, or any
violation by the Company of any rule or regulation promulgated under the Securities Act applicable to the Company in connection with any such registration, qualification or compliance, and the Company will reimburse the Holders, each such
underwriter and each person who controls any such underwriter, for all legal and any other expenses reasonably incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action, as such expenses are
incurred, provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made
in reliance upon and in conformity with written information furnished to the Company by the Holders or underwriter for use therein; and provided further, however, that the Company shall not be required to indemnify any Person against any liability
arising from any untrue or misleading statement or omission contained in any preliminary prospectus if such deficiency is corrected in the final prospectus or for any liability which arises out of the failure of any Person to deliver a prospectus as
required by the Securities Act. 
  
 7.2    To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration, qualification or compliance is being effected,
indemnify the Company, each of its directors and officers, each underwriter, if any, of the Company’s securities covered by such a registration statement, each other Holder participating in such registration, each person who controls the
Company or such underwriter within the meaning of Section 15 of the Securities Act, and each Other Seller participating in such registration, each of its officers and directors and each person controlling such Other Seller within the meaning of
Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any such
registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will
reimburse the Company, such Holders, Other Sellers, directors, officers, persons, underwriters and control persons for all legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage,
liability or action, as such expenses are incurred, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus,
offering circular or other document in reliance upon and in conformity with written information furnished to the Company by such Holder for use therein; provided that in no event shall any indemnity under this Section 7.2 exceed the net
proceeds received by such Holder in such registration; and provided further, however, that the Holders shall not be required to indemnify any Person against any liability arising from any untrue or misleading statement or omission contained
in any preliminary prospectus if such deficiency is corrected in the final prospectus or for any liability which arises out of the failure of any Person to deliver a prospectus as required by the Securities Act. 
  

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 7.3    Each Indemnified Party shall give notice to each Indemnifying
Party promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that
counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense
at such party’s expense; provided, however, that an Indemnified Party (together with all other Indemnified Parties which may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with
the fees and expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between such Indemnified
Party and any other party represented by such counsel in such proceeding. The failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 7, unless the
failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend such action. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party,
consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or
litigation. Notwithstanding the foregoing, such Indemnified Party shall have the right to employ its own counsel in any such litigation, proceeding or other action if (i) the employment of such counsel has been authorized by the Indemnifying
Party, in its sole and absolute discretion, or (ii) the named parties in any such claims (including any impleaded parties) include any such Indemnified Party and the Indemnified Party and the Indemnifying Party shall have been advised in
writing (in suitable detail) by counsel to the Indemnified Party either (A) that there may be one or more legal defenses available to such Indemnified Party which are different from or additional to those available to the Indemnifying Party, or
(B) that there is a conflict of interest by virtue of the Indemnified Party and the Indemnifying Parties having common counsel, in any of which events, the legal fees and expenses of a single counsel for all Indemnified Parties with respect to
each such claim, defense thereof, or counterclaims thereto shall be borne by Indemnifying Party. 
  
 7.4    If the indemnification provided for in this Section 7 is held by a court of competent jurisdiction
to be unavailable to an Indemnified Party with respect to any claim, loss, damage, liability or action referred to therein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such claim, loss, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and the Indemnified Party on the other in
connection with the actions that resulted in such claims, loss, damage, liability or action, as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact related to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
  
 7.5    The Company and the Holders agree that it would not be just and equitable if contribution pursuant to this
Section 7 were based solely upon the number of entities from whom contribution was requested or by any other method of allocation which does not take account of the 

  

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equitable considerations referred to above in this Section 7. The amount paid or payable by an Indemnified Party as a result of the losses,
claims, damages and liabilities referred to above in this Section 7 shall be deemed to include any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or
claim, subject to the provisions of this Section 7. Notwithstanding the provisions of this Section 7, the Holders shall not be required to contribute any amount or make any other payments under this Agreement which in the
aggregate exceed the net proceeds (after selling expenses) received by the Holders. No person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) shall be entitled to contribution from any person who was not guilty of
such fraudulent misrepresentation. 
  
 8.    Information by Holders.    Each Holder shall furnish to the Company such information regarding such Holder, the Registrable Securities held by him, her or it and the distribution proposed
by such Holder as the Company may request in writing and as shall be required in connection with any registration, qualification or compliance hereunder. 
  
 9.    Rule 144 Reporting.    With a view to making available the benefits of certain rules and regulations
of the Commission which may at any time permit the sale of the Registrable Securities to the public without registration, after such time as a public market exists for the Common Shares of the Company, the Company agrees to use commercially
reasonable efforts to: 
  
 9.1    Make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act, at all times after the effective date that the Company becomes subject to the reporting
requirements of the Securities Act or the Exchange Act; 
  
 9.2    File with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after it has become subject to such reporting
requirements); and 
  
 9.3    So long as a Holder owns any Registrable Securities, to furnish to such Holder forthwith upon request a written statement by the Company as to its compliance with the reporting requirements of said Rule 144
(at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time after it
has become subject to such reporting requirements), a copy of the most recent annual or quarterly report of the Company, and such other reports and documents of the Company and other information in the possession of or reasonably obtainable by the
Company as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration. 
  
 10.    Transfer of Registration Rights.    The registration rights granted
under this Agreement may be not be transferred by a Holder, except (i) to an affiliate of the Holder (as defined in Rule 405 of the Securities Act), or (ii) to a third party upon prior written consent of the Company, which consent may be
withheld in the Company’s sole discretion (and in each case, only in connection with the transfer of the underlying Registrable Securities). 
  
 11.    Termination of Registration Rights.    The registration rights afforded to the Holder under this
Agreement shall terminate, if not previously exercised, on the seventh (7th) anniversary of the date hereof.

  

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 12.    Limitation on Registration Rights.    Nothing
contained in this Agreement shall create any obligation on the part of the Company to register under the Securities Act any securities that are not Registrable Securities. 
  
 13.    Miscellaneous. 
  
 13.1    Assignment.    Except as otherwise provided herein,
the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties hereto. 
  
 13.2    Specific Performance.    The parties hereto hereby declare that it is impossible to
measure in money the damages which will accrue to a party hereto or to his or its successors or assigns by reason of a failure to perform any of the obligations under this Agreement and agree that the terms of this Agreement shall be specifically
enforceable. If any party hereto or his or its successors or assigns institutes any action or proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense
therein that such party or such personal representative has an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 
  
 13.3    Governing
Law.    This Agreement shall be governed by and construed under the laws of New York without regard to the provisions thereof relating to choice of law or conflicts of law. 
  
 13.4    Attorneys’
Fees.    If any suit or action is instituted to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any
right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.

  
 13.5    Counterparts.    This Agreement may be executed in any number of counterpart signature pages, each of which shall be deemed to be an original and all of which together shall constitute
one and the same original instrument. Delivery of executed signature pages to this Agreement may be by facsimile transmission with confirmation of received transmission or other electronic means that faithfully reproduces the original with the same
effect as if a manually signed original were personally delivered. 
  
 13.6    Notices.    All notices, consents or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have
been duly given (i) when delivered in hand or by courier; (ii) five (5) business days after being mailed by first class certified mail, return receipt requested, postage prepaid; or (iii) three (3) business days after being
sent by a reputable overnight delivery service, postage or delivery charges prepaid, to the parties at their respective addresses. All notices to be given hereunder shall be sent to the Company at its address specified on the signature page hereto
and to the Investors at their respective addresses set forth on Schedule A hereto. Any party may change its address for notice and the address to which copies must be sent by giving notice of the new addresses to any of the other parties in
accordance 

  

 11 

 
with this Section 13.6, except that any such change of address notice shall not be effective unless and until received. 
  
 13.7    Severability.    If one or more provisions of this Agreement are held to be unenforceable under applicable law, portions of such provisions, or such provisions in their entirety, to the
extent necessary, shall be severed from this Agreement, and the balance of this Agreement shall be enforceable in accordance with its terms. 
  
 13.8    Amendment and Waiver.    Any provision of this Agreement may be amended with the
written consent of the Company and holders of a majority of the Registrable Securities then held by the Holders. Any amendment or waiver effected in accordance with this paragraph shall be binding upon all Holders and the Company. 
  
 13.9    Delays or
Omissions.    No delay or omission to exercise any right, power or remedy accruing to any party to this Agreement, upon any breach or default of the other party, shall impair any such right, power or remedy of such
non-breaching party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any
party of any provisions or conditions of this Agreement, must be made in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or by law or otherwise afforded to any
Holder, shall be cumulative and not alternative. 
  
 [Signature
Page To Follow] 
  

 12 

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

									
	COMPANY:	 	 	 	dELiA*s, INC.
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 Name:
 Title:
	 	 

  
  

			
	 Company’s Notice Address:

	  	 
	 435 Hudson Street
	  	 with a copy (which shall not constitute notice) to:

	 New York, NY 10014
	  	 Richard M. Graf

	 Attn: Chief Executive Officer
	  	 Katten Muchin Rosenman LLP

	 Fax: (212) 590-6310
	  	 1025 Thomas Jefferson St, NW

	 	  	 Washington, DC 20007

	 	  	 Fax: (202) 339-6058

  
 INVESTORS: 
  

			
		
	 	 	
 Robert E. Bernard

		
	 	 	
 Walter Killough

		
	 	 	
 David Desjardins

		
	 	 	
 Cathy McNeal

		
	 	 	
 Andrew Firestone

  
  
  
  
 [Signature Page to Registration Rights Agreement] 
  

 13 

 SCHEDULE A 
  
 SCHEDULE OF INVESTORS 
  
 ROBERT E. BERNARD 
 [Address] 
  
 WALTER
KILLOUGH 
 [Address] 
  
 DAVID DESJARDINS 
 [Address] 
  
 CATHY MCNEAL 
 [Address] 
  
 ANDY
FIRESTONE 
 [Address] 
  

 14

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