Document:

Guaranty dated March 3, 2004

 Exhibit 10.13 
  
 GUARANTY 
  
 For valuable consideration received, including, but without limitation, any and all sales of goods, extension of credit or other financial accommodation, whether
heretofore or hereafter made from time to time by INGRAM MICRO INC., a Delaware corporation with an office at 1600 E. Saint Andrew Place, Santa Ana, California 92705, its subsidiaries, affiliates, divisions, successors and assigns (collectively,
“Ingram”) to Buy.com, Inc., a Delaware corporation with an address of 85 Enterprise, Suite 100, Aliso Viejo, CA 92656, its subsidiaries, affiliates, divisions, successors and assigns (collectively, “Debtor”), or for any other
good and valuable consideration, each of the undersigned, Scott A. Blum, an adult individual with an address at [***] (“Blum”), the Scott A. Blum Separate Property Trust U/D/T 8/2/95, a trust having an address at [***], by and through Scott A. Blum as trustee (the “Trust”), Value Capital LLP, a California limited liability
partnership with an address of [***], by and through Scott A. Blum as managing Partner (“Value Capital”), ThinkTank LLC, a Wyoming limited liability company with an address of [***], by and through Scott A. Blum as managing member
(“ThinkTank”), and their respective heirs and assigns (each of Blum, the Trust, Value Capital, and ThinkTank, being herein referred to individually as a “Guarantor” and collectively as “Guarantors”) hereby
unconditionally and irrevocably guarantees the full and prompt payment to Ingram when due, whether by acceleration or otherwise, of any and all Indebtedness (as hereinafter defined) of Debtor. 
  
 “Indebtedness” shall mean any and all indebtedness and other liabilities of Debtor
to Ingram of every kind and character arising out of and associated with all accounts for the purchase of goods and services by Debtor from Ingram and all extensions, renewals, and replacements thereof, including, without limitation, all unpaid
accrued interest thereon and all costs and expenses payable whether now existing or hereafter incurred; whether the indebtedness is from time to time reduced, increased, or extinguished and thereafter reincurred; and whether the indebtedness is
contracted by Debtor alone or jointly and severally with others. 
  
 If any
default shall be made in the payment of the Indebtedness or any part thereof, each Guarantor hereby agrees to pay the same in full without requiring Ingram to resort first to Debtor (this being a guaranty of payment and not of collection, and a
primary obligation of each Guarantor), any other Guarantor hereunder, or to any other guarantor, guaranty or collateral; without deduction by way of setoff, defense or counterclaim; without requiring protest, notice of protest, presentment or notice
of non-payment or default to each Guarantor; without demand or proof of demand; without requiring notice of acceptance hereof or assent hereto by Ingram; and without requiring notice that any Indebtedness has been incurred or renewed, or notice or
proof of the reliance by Ingram upon this Guaranty; all of which each Guarantor hereby waives. 
  
 Each Guarantor further waives the following and acknowledges that this Guaranty and such Guarantor’s obligations hereunder shall not be affected by the following: (a) any delay in the exercise, failure to
exercise, forbearance of, or waiver of rights or remedies of Ingram or any person against Debtor, any Guarantor or any other person or entity in regard to the Indebtedness, or any part thereof or any collateral securing the Indebtedness or any part
thereof; (b) any release, settlement, compromise, cancellation, discharge, replacement, substitution, transfer or other disposition of any obligation of the Debtor, any Guarantor hereunder, any other guarantor, person or entity, or of any
collateral; (c) the creation of any security interest or lien in favor of any person other than Ingram; (d) any refusal or failure by Ingram or any other person or entity to extend credit or grant credit accommodation to Debtor; (e) any dissolution,
merger, consolidation or change in the form of organization, name or ownership of, or insolvency, death or judicial declaration of incompetence of, Debtor, any Guarantor, any other guarantor or other party; or 
  

	[***]	 Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange
Commission. 

 (f) the commencement of any case or proceeding by or against Debtor, any Guarantor, any other guarantor or other party,
under bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally, including, without limitation, any stay against the enforcement of, and any extension of the time for payment of, any of the
Indebtedness as a result of such case or proceeding. It being agreed that the obligations of Guarantor hereunder shall not be discharged except by full payment and performance as herein provided. 
  
 This Guaranty is absolute, unconditional and continuing and shall not be modified or affected
by any representation, act, oral agreement or other matter whatsoever and no waiver of Ingram’s rights hereunder shall be effective, unless in writing. This Guaranty is intended to be the final and complete statement of the agreement between
each Guarantor and Ingram. Each Guarantor expressly disclaims any reliance on any course of dealing or usage of trade, or representation or warranty of Ingram. Nothing herein contained shall be deemed of construed to create any commitment or other
obligation on the part of Ingram to make any sales or deliver goods to Debtor and all sales and deliveries to be made, if any, shall be made from time to time at the sole discretion of Ingram upon such terms and conditions as Ingram shall determine
from time to time in Ingram’s sole judgment and discretion. Guarantor shall defend and indemnify Ingram of and from any claim or loss under this Guaranty including reasonable attorneys’ fees and expenses. 
  
 Each Guarantor authorizes Ingram, in its sole discretion, without notice and demand and
without affecting this Guaranty or such Guarantor’s obligations hereunder, from time to time (a) to modify, renew, substitute, extend, increase, decrease, refinance, subordinate, accelerate or otherwise change the time for payment of, or the
terms of the Indebtedness or any part thereof; (b) to accept, exchange, enforce, release or dispose of any and all such collateral in any manner, for the payment of the Indebtedness, as Ingram may deem appropriate; and (c) to determine the manner,
amount and time of application of payments and credits, if any, to be made on any part of the Indebtedness including principal, interest costs and expenses, or otherwise; in each case solely as may be provided in any agreement between Ingram and the
Debtor concerning the Indebtedness or as otherwise permitted under applicable law. 
  
 Guarantors acknowledge that Guarantors have delivered financial statements to Ingrain with the intent that Ingram should rely thereon in selling goods to and extending credit to Debtor. Guarantors represent that the financial statements are
true and correct and properly present the Guarantors’ financial situation as of the date of such statements, and agree to furnish from time to time such additional or updated financial statements as Ingram may reasonably request. 
  
 With respect to each Guarantor, this Guaranty shall remain in full force and effect until ten
(10) days after Ingram shall have actually received from such Guarantor written notice (to the address set forth above, Attn: Senior Director of Credit) of its discontinuance; provided, however, that with respect to such Guarantor this
Guaranty shall remain in full force and effect thereafter until all of the Indebtedness outstanding, incurred, contracted or committed for before the expiration of such ten (10) day period, and any extensions, renewals or replacements thereof
(whether made before or after the expiration of such ten (10) day period), together with interest accruing thereon, shall be finally and irrevocably paid in full. Discontinuance of this Guaranty as to one Guarantor shall not operate as a
discontinuance as to any other Guarantor hereunder or a discontinuance of any other guaranty which Ingram may at any time have or hold. Payment of all of the Indebtedness from time to time shall not operate as a discontinuance of this Guaranty,
unless notice of discontinuance as above provided has theretofore actually been received by Ingram and the ten (10) day period as above provided has theretofore expired. Ingram shall have the right to discharge or release one or more of the
undersigned Guarantors from any obligation hereunder, in whole or in part, without releasing, impairing or affecting its right against any other undersigned Guarantor. The failure of any other person to sign this Guaranty or provide information
pursuant to this Guaranty shall not release or affect the obligations or liability of the undersigned. 
  

 2 

 Each Guarantor agrees that, to the extent that Debtor or any other party makes a payment or payments to Ingram on the
Indebtedness, or Ingram receives any proceeds of collateral to be applied to the Indebtedness, which payment or payments, or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or otherwise are
required to be repaid to Debtor, its estate, trustee, receiver or other party (including, without limitation, pursuant to any bankruptcy law, state or federal law, common law or equitable cause), then to the extent of such repayment, the obligation
or part thereof which has been paid, reduced or satisfied by such amount shall be reinstated and continued in full force and effect as of the date such initial payment, reduction or satisfaction occurred, notwithstanding any contrary action which
may have been taken by Ingram in reliance upon such payment or payments. As of the date any payment or proceeds of collateral are returned, the statute of limitations shall start anew with respect to any action or proceeding by Ingram against
Guarantors under this Guaranty. 
  
 All rights and remedies of Ingram hereunder
are cumulative. After Debtor’s failure to pay the Indebtedness, or any part thereof, Ingram may exercise against any Guarantor each right and remedy of a creditor against a principal debtor. Ingram may remedy any default by Debtor without
waiving the default remedied and without waiving any other prior or subsequent default by Debtor. Ingram’s giving of notice or demand at any time shall not operate as a waiver in the future of Ingram’s right to exercise any right or remedy
without notice or demand. No act, omission, delay or course of dealing shall operate as a waiver of any other right or remedy. 
  
 Ingram’s rights and remedies hereunder are assignable, in whole or in part, by Ingram (a) without notice to Guarantor, to any affiliate of Ingram or to any person
who acquires a substantial portion of the assets of Ingram or who is a successor by merger, (b) without notice to Guarantor, to any financial institution or to any entity involved in the securitization of some or all of Ingram’s accounts
receivables or other obligations, and (c) to any other person not covered by clauses (a) or (b) so long as Ingram obtains the prior written consent to such assignment from Guarantor, such consent not to be unreasonably withheld or delayed. In
addition, the rights and benefits of Ingram hereunder shall, if Ingram so directs, inure to any party acquiring any interest in the Indebtedness or any part thereof. 
  
 If any provision of this Guaranty is unenforceable in whole or in part for any reason, it shall be deemed modified to the extent necessary
to make it or the applicable provision enforceable, or if for any reason such provision is not deemed modified, the remaining provisions shall continue to be effective. 
  
 This Guaranty and all rights and remedies hereunder shall be construed under the laws of the State of New York without regard to principles
of conflicts of law. EACH GUARANTOR AGREES THAT ANY ACTION OR PROCEEDING TO ENFORCE OR ARISING OUT OF THIS GUARANTY MAY BE COMMENCED IN THE COURTS OF ERIE COUNTY, NEW YORK AND SUCH GUARANTOR AGREES NOT TO DISTURB SUCH FORUM. 
  
 EACH GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAVES ANY RIGHT TO TRIAL BY
JURY SUCH GUARANTOR MAY HAVE IN ANY ACTION OR PROCEEDING, IN LAW OR EQUITY, IN CONNECTION WITH THIS GUARANTY OR THE TRANSACTIONS RELATED HERETO. EACH GUARANTOR REPRESENTS AND WARRANTS THAT NO REPRESENTATIVE OR AGENT OF INGRAM HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT INGRAM WILL NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THIS JURY TRIAL WAIVER. EACH GUARANTOR ACKNOWLEDGES THAT INGRAM HAS BEEN INDUCED TO ENTER INTO THIS GUARANTY BY, AMONG OTHER THINGS, THIS JURY TRIAL WAIVER.

  

 3 

 NOTWITHSTANDING ANY OTHER PROVISION TO THE CONTRARY HEREIN OR IN APPLICABLE LAW, IN NO EVENT SHALL ANY GUARANTOR BE
LIABLE TO INGRAM OR ANY OTHER PARTY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE AND WHETHER OR NOT INGRAM OR SUCH PARTY HAS BEEN ADVISED OF
THE POSSIBILITY OF SUCH DAMAGE, AND THE GUARANTIES GRANTED HEREBY SHALL NOT APPLY TO ANY OF THE FOREGOING. 
  
 All notice, requests, demands, directions and other communications which may or are required to be given by either Ingram or a Guarantor under this Guaranty shall be in writing and shall be deemed to have been
properly given if delivered in person or if mailed by first class registered or certified mail with postage prepaid, or by Federal Express or other reputable courier service, addressed to the applicable party at the address specified above, or at
such other address as shall be designated by such party in writing. All such notices, requests, demands, directions and other communications shall, when given in accordance with this paragraph, be deemed effective upon delivery, if delivered in
person or by courier service, or two days after deposited in U.S. mail depository if mailed. 
  
 IN WITNESS WHEREOF, this Guaranty has been signed this 3rd day of March, 2004. 
  

			
	SCOTT A. BLUM, AN INDIVIDUAL
	
	 /s/ Scott A. Blum

	 SCOTT A. BLUM

  

			
	SCOTT A. BLUM SEPARATE PROPERTY TRUST U/D/T 8/2/95
		
	By:	 	 /s/ Scott A. Blum

	 Name:
	 	 Scott A. Blum, not individually but as Trustee

  

			
	VALUE CAPITAL LLP
		
	By:	 	 /s/ Scott A. Blum

	 	 	Scott A. Blum, not individually but as Managing Partner

  

			
	THINKTANK LLC
		
	By:	 	 /s/ Scott A. Blum

	 	 	Scott A. Blum, not individually but as Managing Member

  

 4 

			
	 State of California
	  	)
	 	  	)ss.
	 County of Orange
	  	)

  
 On Mar 3, 2004, before me, Shelley
Levine , Notary Public, personally appeared Scott A. Blum, personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that (s)he executed
the same. 
  
 WITNESS my hand and official seal. 
  

			
		
	Signature	 	Shelley Levine
	 	 	Notary Public

  
 [NOTARY SEAL]

  

			
	 State of California
	  	)
	 	  	)ss.
	 County of Orange
	  	)

  
 On Mar 3, 2004, before me, Shelley
Levine , Notary Public, personally appeared Scott A. Blum, personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that (s)he executed
the same. 
  
 WITNESS my hand and official seal. 
  

			
		
	Signature	 	Shelley Levine
	 	 	Notary Public

  
 [NOTARY SEAL]

  

			
	 State of California
	  	)
	 	  	)ss.
	 County of Orange
	  	)

  
 On Mar 3, 2004, before me, Shelley
Levine , Notary Public, personally appeared Scott A. Blum, personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that (s)he executed
the same. 
  
 WITNESS my hand and official seal. 
  

			
		
	Signature	 	Shelley Levine
	 	 	Notary Public

  
 [NOTARY SEAL]

  

 5 

			
	 State of California
	  	)
	 	  	)ss.
	 County of Orange
	  	)

  
 On Mar 3, 2004, before me, Shelley
Levine , Notary Public, personally appeared Scott A. Blum, personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that (s)he executed
the same. 
  
 WITNESS my hand and official seal. 
  

			
		
	Signature	 	Shelley Levine
	 	 	Notary Public

  
 [NOTARY SEAL]

  

 6Subordination Agreement, dated March 3, 2004

 Exhibit 10.14 
  
 INGRAM MICRO INC. 
 SUBORDINATION AGREEMENT 
  
 The undersigned
(hereinafter collectively and jointly and severally called “Creditor”) makes and grants this Subordination Agreement to INGRAM MICRO INC., and all its subsidiaries, affiliates, divisions, successors and/or assigns (hereinafter called
“Ingram Micro”). 
  
 RECITAL. Buy.com, Inc., a
Delaware corporation (hereinafter called “Customer”) is now indebted to Creditor in the principal sum of SEVENTEEN MILLION FOUR HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($17,450,000.00), and Customer may hereafter from time to time create
or incur other indebtedness, obligations or liabilities to Creditor (any and all indebtedness, obligations and liabilities of Customer to Creditor, of every kind and character, direct or indirect, whether from time to time reduced and thereafter
increased, or entirely extinguished and thereafter reincurred, conditionally or as collateral security from another by Creditor (including without limitation interest on any of the foregoing, whether accrued before or after the filing of any
insolvency or bankruptcy proceedings of Customer), being hereinafter collectively called the “Subordinated Debt”). 
  
 CONSIDERATION. To induce Ingram Micro, from time to time, at its option, to make sales of goods or extend credit or other accommodation or benefit
to or for the account of Customer, with or without security, or to grant renewals or extensions thereof, Creditor hereby agrees with Ingram Micro as follows: 
  
 SUBORDINATION AND STANDBY. The Subordinated Debt is and shall be subordinate, as hereinafter set forth, in right of payment to the prior payment
and performance in full of all indebtedness, obligations and liabilities of Customer to Ingram Micro, whether now existing or hereafter incurred, of every kind and character, direct or indirect, whether from time to time reduced and thereafter
increased, or entirely extinguished and thereafter reincurred, including, without limitation, all now existing or hereinafter incurred indebtedness, obligations and liabilities of Customer to Ingram Micro arising out of the purchase of goods by
Customer from Ingram Micro (including without limitation interest on any of the foregoing, whether accrued before or after the filing of any insolvency or bankruptcy proceedings of Customer) (all said indebtedness, obligations and liabilities being
hereinafter collectively called the “Ingram Micro Debt”). For the purposes of this Agreement, the Ingram Micro Debt shall not be deemed paid in full until Ingram Micro shall have received payment of the Ingram Micro Debt in cash. Any and
all security interests, mortgage liens or assignments of leases or other collateral security (collectively, “Collateral Security”) now or hereafter created or granted with respect to the Subordinated Debt shall be fully subject and
subordinate to any and all Collateral Security now or hereafter created or granted with respect to the Ingram Micro Debt, as fully and to the same extent as if any document evidencing any such Collateral Security with respect to the Ingram Micro
Debt had been given and recorded, and any financing statements had been filed, prior in time to any document evidencing any such Collateral Security with respect to the Subordinated Debt. 
  
 Except as provided herein, Creditor shall not ask, demand, sue for, take or receive from Customer, directly or indirectly, in any manner of
payment, any or all of the Subordinated Debt unless and until all of the Ingram Micro Debt shall have been paid and performed in full, with interest; provided, however, that unless and until there shall have occurred a default with respect to any
Ingram Micro Debt, Customer may pay, and Scott A. Blum may receive, compensation for services rendered by Scott A. Blum to Customer, whether in the form of salary, bonus or otherwise so long as the amount of such compensation does not exceed on an
annualized basis the compensation paid to Scott A. Blum during the calendar year 2003. 
  

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 In the event that there shall have occurred a default with respect to any Ingram Micro Debt, any cash or other property
thereafter received by Creditor as a result of a dividend or other distribution in respect of any stock or other equity interest of Creditor in Customer, or as a result of the purchase, redemption, retirement or other acquisition for value by
Customer of such stock or equity interest of Creditor in Customer, shall be deemed to have been received by Creditor upon or with respect to the Subordinated Debt in violation of the provisions of this Agreement and shall be delivered by Creditor to
Ingram Micro and, until so delivered, shall be held in trust by Creditor as the property of Ingram Micro, all subject to and in accordance with the provisions of the paragraph hereof entitled “Receipt of Proceeds”. 
  
 DISTRIBUTIONS. In the event of any distribution, division or
application, of all or any part of the assets of Customer or the proceeds thereof, to creditors of Customer, for any reason whatsoever, then and in any such event any payment or distribution of any kind or character, which shall be payable or
deliverable upon or with respect to any or all Subordinated Debt, shall be paid or delivered direct to Ingram Micro for application on any Ingram Micro Debt, due or not due, until the Ingram Micro Debt shall have first been fully paid and satisfied.
Creditor irrevocably authorizes and empowers Ingram Micro, to demand, sue for, collect and receive every such payment or distribution and give acquittance therefore; and to file claims and take such other steps, in Ingram Micro’s own name or in
the name of Creditor or otherwise, as Ingram Micro deems advisable for the enforcement of this Agreement or of any and all claims upon or with respect to any and all Subordinated Debt or for the collection of any and all payments or distributions
which may be payable or deliverable with respect to any of the Subordinated Debt. An irrevocable power of attorney is granted to Ingram Micro to effect the forgoing, including supplying any necessary endorsements. 
  
 RECEIPT OF PROCEEDS. Except as provided herein, should any payment,
distribution, security or proceeds thereof be received by Creditor upon or with respect to any of the Subordinated Debt prior to the satisfaction of all of the Ingram Micro Debt, Creditor will forthwith deliver the same to Ingram Micro in precisely
the form received (except for the endorsement or assignment of Creditor where necessary), for application on any of the Ingram Micro Debt, due or not due, and, until so delivered, the same will be held in trust by Creditor as the property of Ingram
Micro. In the event of the failure of Creditor to make any such endorsement or assignment, Ingram Micro, or any of its officers or employees, are hereby irrevocably authorized to make the same. 
  
 SECURITY. As security for its obligations to Ingram Micro hereunder
and as security for payment of the Ingram Micro Debt, Creditor hereby assigns to Ingram Micro, and grants to Ingram Micro a security interest in, the Subordinated Debt and any instrument or other document evidencing the same. Creditor and Customer
will do all things necessary in the opinion of Ingram Micro to protect the rights of Ingram Micro hereunder. Creditor hereby authorizes Ingram Micro to prepare and file such UCC financing statements and other documents as may be reasonably necessary
to perfect Ingram Micro’s security interest in the Subordinated Debt, and Creditor shall deliver to Ingram Micro all promissory notes and other instruments which may evidence the Subordinated Debt, duly endorsed to Ingram Micro. Creditor hereby
represents and warrants to Ingram Micro that (a) the Subordinated Debt is now outstanding, the original instruments evidencing the Subordinated Debt, have been duly authorized by Customer, have not been amended or otherwise modified and constitute
the legal, valid and binding obligation of Customer enforceable against Customer in accordance with their terms, and (b) Creditor owns the Subordinated Debt now outstanding free and clear of any lien, security interest, charge or encumbrance. Upon
the failure by Customer to pay when due any of the Ingram Micro Debt, whether by acceleration or otherwise, or upon the default in any document or instrument pertaining to or evidencing the Ingram Micro Debt, Ingram Micro may, without limitation of
any other provision herein, in its name or the name of Creditor, take any action for the collection of the Subordinated Debt, may receive the proceeds thereof and give acquittances therefore and after deducting the costs and expenses of any action
taken, including reasonable counsel fees, may apply such proceeds to the Ingram Micro Debt, accounting 

  

 - 2 - 

 
to Creditor for any balance remaining. Creditor irrevocably appoints Ingram Micro as the lawful attorney and agent of Creditor to execute financing
statements on behalf of Creditor and to file such financing statements signed by Ingram Micro alone in any public office. 
  
 NO ASSIGNMENT WITHOUT SUBROGATION. Creditor will not assign, transfer, or further subordinate, to others any of the Subordinated Debt while any
Ingram Micro Debt remains unpaid, unless such assignment, transfer or subordination is made expressly subject and subordinate to this Agreement and the rights of Ingram Micro hereunder. Creditor will not permit the terms of any of the Subordinated
Debt to be changed in such a manner as to have an adverse effect upon the rights or interests of Ingram Micro hereunder. 
  
 CHANGES TO INGRAM MICRO DEBT. Ingram Micro, from time to time, may enter into such agreement(s) with Customer as Ingram Micro deems proper,
extending the time of payment of, renewing or altering the terms of all or any of the Ingram Micro Debt or affecting the underlying security of the same, or may exchange, sell, surrender or otherwise deal with any such security, or may release any
balance of funds of Customer, or may release any guarantor or other obligor, without notice to Creditor, and without in any way impairing or affecting this Subordination Agreement thereby. 
  
 Each Creditor further waives the following and acknowledges that this Subordination Agreement
and such Creditor’s obligations hereunder shall not be affected by the following: (a) any delay in the exercise, failure to exercise, forbearance of, or waiver of rights or remedies of Ingram Micro or any person against Customer, any Creditor
or any other person or entity in regard to the Ingram Micro Debt, or any part thereof or any collateral securing the Ingram Micro Debt or any part thereof; (b) any release, settlement, compromise, cancellation, discharge, replacement, substitution,
transfer or other disposition of any obligation of Customer, any Creditor hereunder, any Creditor, person or entity, or of any collateral; (c) the creation of any security interest or lien in favor of any person other than Ingram Micro; (d) any
refusal or failure by Ingram Micro or any other person or entity to extend credit or grant credit accommodation to Customer; (e) any dissolution, merger, consolidation or change in the form of organization, name or ownership of, or insolvency, death
or judicial declaration of incompetence of, Customer, any Creditor, any guarantor or other party; or (f) the commencement of any case or proceeding by or against Customer, any Creditor, any guarantor or other party, under bankruptcy, insolvency,
reorganization, moratorium or similar law affecting creditors’ rights generally, including, without limitation, any stay against the enforcement of, and any extension of the time for payment of, any of the Ingram Micro Debt as a result of such
case or proceeding. It being agreed that the obligations of Creditor hereunder shall not be discharged except by full payment and performance as herein provided. 
  
 Each Creditor authorizes Ingram Micro, in its sole discretion, without notice and demand and without affecting this Subordination Agreement
or such Creditor’s obligations hereunder, from time to time (a) to modify, renew, substitute, extend, increase, decrease, refinance, subordinate, accelerate or otherwise change the time for payment of, or the terms of the Ingram Micro Debt or
any part thereof; (b) to accept, exchange, enforce, release or dispose of any and all such collateral in any manner, for the payment of the Ingram Micro Debt, as Ingram Micro may deem appropriate; and (c) to determine the manner, amount and time of
application of payments and credits, if any, to be made on any part of the Ingram Micro Debt including principal, interest costs and expenses, or otherwise; in each case solely as may be provided in any agreement between Ingram Micro and the
Customer concerning the Ingram Micro Debt or as otherwise permitted under applicable law. 
  
 BOOKS OF ACCOUNT. Creditor shall make and maintain in Creditor’s books of account notations satisfactory to Ingram Micro of its rights and priorities hereunder and from time to time on request, shall
furnish Ingram Micro with sworn financial statements. Ingram Micro may inspect the books of account and records of Creditor at any time during business hours. 
  

 - 3 - 

 COSTS. Creditor agrees to reimburse Ingram Micro on demand for all costs, expenses and charges
(including, without limitation, fees and charges of legal counsel for Ingram Micro) in connection with the enforcement of this Subordination Agreement. 
  
 ENTIRE AGREEMENT, AMENDMENT AND WAIVERS BY INGRAM MICRO. This Subordination Agreement constitutes the entire agreement between Creditor and Ingram
Micro in respect of the subject matter hereof and may be amended only by a writing signed by each party. No exercise or delay in exercising any power or right of Ingram Micro hereunder shall operate as a waiver thereof or of any other power or
right. No waiver shall made by Ingram Micro of any of its rights hereunder unless the same shall be in writing signed by Ingram Micro. 
  
 WAIVERS BY CREDITOR. All of the Ingram Micro Debt shall be deemed to have been made or incurred at the request of Creditor and in reliance upon
this Subordination Agreement, and Creditor expressly waives all notice of the acceptance by Ingram Micro of this Subordination Agreement; all other notices whatsoever; reliance by Ingram Micro upon the subordination herein provided for; and any
circumstance which might otherwise constitute a defense available to, or discharge of Customer or any subordinated creditor. 
  
 SUCCESSORS. This Subordination Agreement shall be binding upon Creditor, its successors and assigns. 
  
 GOVERNING LAW AND JURISDICTION. The validity, interpretation and legal
effect of this Subordination Agreement shall be governed by, and all rights and liabilities hereunder shall be determined in accordance with the laws of the State of New York. CREDITOR HEREBY AGREES THAT ANY ACTION OR PROCEEDING TO ENFORCE OR
ARISING OUT OF THIS SUBORDINATION AGREEMENT MAY BE COMMENCED, AT THE OPTION OF INGRAM MICRO, IN COURTS HAVING SITUS WITHIN THE STATE OF NEW YORK, AND CREDITOR HEREBY CONSENTS TO THE JURISDICTION OF ANY LOCAL, STATE OR FEDERAL COURT SELECTED BY
INGRAM MICRO WHICH IS LOCATED WITHIN THE STATE OF NEW YORK, AND AGREES NOT TO DISTURB SUCH FORUM. CREDITOR HEREBY WAIVES PERSONAL SERVICE OF PROCESS AND AGREES THAT ANY SUMMONS AND COMPLAINT OR OTHER PROCESS COMMENCING AN ACTION OR PROCEEDING IN ANY
SUCH COURT SHALL BE PROPERLY SERVED AND SHALL CONFER PERSONAL JURISDICTION (A) IF SERVED BY REGISTERED OR CERTIFIED MAIL TO CREDITOR AT THE ADDRESS OF CREDITOR STATED BELOW OR SUCH OTHER ADDRESS AS CREDITOR MAY FROM TIME TO TIME SPECIFY IN A WRITTEN
NOTICE TO INGRAM MICRO, OR (B) IF SERVED AS OTHERWISE PROVIDED BY THE LAWS OF THE STATE OF NEW YORK OR THE LAWS OF THE UNITED STATES OF AMERICA. CREDITOR HEREBY WANES (A) TRIAL BY JURY IN ANY SUCH ACTION OR PROCEEDING TO ENFORCE OR ARISING OUT OF
THIS SUBORDINATION AGREEMENT, AND (B) THE RIGHT TO INTERPOSE ANY COUNTERCLAIM OR SET-OFF OF ANY KIND OR DESCRIPTION IN ANY SUCH ACTION OR PROCEEDING. 
  
 NOTICES. All notices, requests, demands, directions and other communications which may or are required to be given, served or sent by either Ingram
Micro or Creditor to the other under this Subordination Agreement shall be in writing and shall be deemed to have been properly given or sent if mailed by registered or certified mail with postage prepaid, addressed to the applicable party (a) in
the case of Ingram Micro, at 1759 Wehrle Drive, Williamsville, New York 14221, Attn: Legal Department, and (b) in the case of Creditor, at the address of Creditor stated below, or (c) in the case of each party, at such other address as shall be
designated by such party in a written notice to the other party complying as to delivery with the terms of this paragraph. All such notices, requests, demands, directions and other 

  

 - 4 - 

 
communications shall, when mailed in the aforesaid manner, be effective when received, except as otherwise provided herein. 
  
 CONTINUING NATURE OF SUBORDINATION. This Subordination Agreement is
and is intended to be a continuing Subordination Agreement and shall remain in full force and effect until ten (10) days after Ingram Micro receives written notice of its discontinuance; provided, however, that this Subordination Agreement shall
remain in full force and effect thereafter until all of the Ingram Micro Debt outstanding, contracted or committed for, before the receipt of such notice by Ingram Micro and the expiration of such ten (10) day period (and any extensions, renewals
and modifications thereof), shall be finally and irrevocably paid in full. If after receipt of any payment of all or any part of the Ingram Micro Debt, Ingram Micro is for any reason compelled to surrender such payment to any party for any reason,
this Subordination Agreement shall continue in full force and effect notwithstanding any contrary action which may have been taken by Ingram Micro in reliance upon such payment, and any such contrary action so taken shall be without prejudice to
Ingram Micro’s rights under this Subordination Agreement. 
  
 IN WITNESS
WHEREOF, Creditor has duly executed this Subordination Agreement this 3rd day of March, 2004. 
  

	
	 SCOTT A. BLUM

	
	 /s/ Scott A. Blum

	 Scott A. Blum

	
	 [***]
 [***]
 [***]

  

			
	 SCOTT A. BLUM SEPARATE PROPERTY TRUST U/D/T 8/2/95

		
	By:	 	 /s/ Scott A. Blum

	 	 	 Scott A. Blum, not individually but as Trustee

	
	 [***]
 [***]
 [***]

  
 The undersigned,
Customer referred to in the foregoing Subordination Agreement, hereby accepts, and acknowledges receipt of a copy of, the foregoing Subordination Agreement, and agrees that the undersigned Customer will not pay any of the Subordinated Debt defined
in the foregoing Agreement, except as in the foregoing Agreement provided. In the event of a breach of any of the provisions of the foregoing Agreement by either Creditor referred to therein or the undersigned Customer, all or any part of the Ingram
Micro Debt and/or the Subordinated Debt defined therein shall, without notice or demand, become immediately due and payable unless Ingram Micro shall otherwise elect. 

	[***]	 Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange
Commission. 

  

 - 5 - 

 The Creditor that has signed above agrees to make and maintain in its books of account notations
satisfactory to Ingram Micro of Ingram Micro’s rights and priorities hereunder and, from time to time on request, to furnish Ingram Micro with sworn financial statements. Ingram Micro may inspect the undersigned Customer’s books of account
and any records at any time during business hours. No waiver by Ingram Micro of any right hereunder shall be valid unless in writing and no waiver by Ingram Micro of any right shall be deemed a waiver of any other right. Nothing herein shall limit
or affect in any manner any right Ingram Micro may have by virtue of any other instrument or agreement. 
  
 The undersigned officer of Customer is hereby authorized and empowered, in the name and on behalf of Customer, to execute and deliver this Subordination
Agreement, and the undersigned signs his name hereto by authority of the Board of Directors of the Customer. 
  

			
	 BUY.COM, INC.:

		
	 By:
	 	 /s/ Robert Price

	 	 	 Robert Price – Chief Financial Officer

  

 - 6 -

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