Document:

Amended and Restated Employment Agreement

 Exhibit 10.1 
  
 Amended and Restated Employment Agreement 
  
 December 8, 2004 
  
 This Amended and Restated Employment Agreement (this “Agreement”) is between Saks Incorporated (the
“Company”) and R. Brad Martin (the “Executive”). 
  
 Terms and Conditions 
  
 The Company and the Executive agree as follows: 
  
 1. Employment. During the Term (as defined in section 5 of this Agreement) the Company employs the Executive, and the Executive will serve, as the Company’s Chairman of the Board and as its
Chief Executive Officer, subject to the Executive’s appointment to these offices by the Board of Directors of the Company in accordance with Article V, Section 1 of Company’s Amended and Restated Bylaws. 
  
 2. Duties. During the Term the Executive will devote
substantially all of the Executive’s working time, energies, and skills to the benefit of the Company’s business. The Executive agrees to serve the Company diligently and to the best of the Executive’s ability and to use the
Executive’s best efforts to follow the policies and directions of the Company’s Board of Directors. 
  
 3. Compensation. The Executive’s compensation and benefits under this Agreement during the Term will be as follows: 

 
 (a) Base Salary. The Company will pay the Executive
a base salary (“Base Salary”) at a rate of no less than $1,000,000 per year. The Base Salary will be subject to annual review by the Human Resources/Option Committee of the Company’s Board of Directors (the
“Committee”) for increases as determined by the Committee in its sole discretion in accordance with the Committee’s Charter. The Base Salary will be paid in installments in accordance with the Company’s normal
payment schedule for its senior management. All payments will be subject to the deduction of payroll taxes and similar assessments as required by law. 
  
 (b) Bonus. In addition to the Base Salary, the Executive will be eligible for a yearly cash bonus of 100% of
Base Salary for target achievement of applicable performance measures and up to 200% of Base Salary for maximum achievement of applicable performance measures, in each case as determined in accordance with and subject to the terms and conditions of
the Company’s 2003 Senior Executive Bonus Plan. 
  
 (c)
Annual Performance Share Awards. Subject to the last sentence of this subsection (c), the Company will annually award to the Executive 40,000 

 performance shares pursuant to section 8 of the Company’s 2004 Long-Term Incentive Plan (the “2004
Plan”). The first annual award will be made with respect to the Company’s 2005 fiscal year and each subsequent award will be made with respect to a following fiscal year. Each award will include performance targets and performance
measures as determined by the Committee in accordance with section 8(e) of the 2004 Plan and a one-year performance period. The Committee in its sole discretion will determine whether an award has been earned in accordance with the 2004 Plan. If the
Committee determines that an award has been earned in whole or in part, in accordance with section 8(a) of the 2004 Plan the earned performance shares will be subject to a restriction period that will end, and the shares will fully vest, on the last
day of the fiscal year following the fiscal year used as the performance period for the award. To receive the performance shares subject to an award, the Executive must be continuously employed by the Company to the last day of the restriction
period. Each award described in this subsection (c) is subject to Committee approval and the Executive’s execution and delivery to the Company of a performance share agreement in form and substance reasonably satisfactory to the Company.

  
 (d) Annual Restricted Stock Awards.
Subject to the last sentence of this subsection (d), the Company will annually award to the Executive 5,000 shares of restricted stock pursuant to section 8 of the 2004 Plan. Each annual award will be made on a date determined by the Committee, and
the first annual award will be made in 2005. In accordance with section 8(a) of the Plan, each award will be subject to a restriction period that will end, and the shares will fully vest, on the third anniversary of the date of the award if the
Executive has been continuously employed by the Company to the last day of the restriction period. Each award described in this subsection (d) is subject to Committee approval and the Executive’s execution and delivery to the Company of a
restricted stock agreement in form and substance reasonably satisfactory to the Company. 
  
 (e) Performance Share Award. Section 3(g) of the Amended and Restated Employment Agreement dated April 18, 2003 between the Company and the Executive (the “Prior
Agreement”) provides that the Company will make a 500,000 share award to the Executive, which obligation the Company had not satisfied as of the date of this Agreement. In full satisfaction of that obligation and subject to the last
sentence of this subsection (e), the Company will award to the Executive 500,000 performance shares pursuant to section 8 of the 2004 Plan. The performance period for the award will be from and including June 1, 2005 to and including May 31, 2006.
The performance measure for the award will be the average of the closing prices for the Company’s Common Stock on the New York Stock Exchange during the performance period (the “Average”). The performance targets for the
award will be as follows: (a) if the Average is less than $15.68 the Executive will not receive any shares of Common Stock; (ii) if the Average is $15.68 the Executive will receive 100,000 shares of the Company’s Common Stock; (iii) if the
Average is more than $15.68 and less than $26.14 the Executive will receive a prorated number of shares between 100,000 shares and 500,000 shares; and (iv) if the Average is $26.14 or more the Executive will receive 500,000 shares. The Executive
must be continuously employed by the Company to the date the Committee determines the extent to which the performance targets have been 
  

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 met, which date is the date the shares will fully vest. The award described in this subsection (e) is subject to
Committee approval and the Executive’s execution and delivery to the Company of a performance share agreement in form and substance reasonably satisfactory to the Company. The Committee’s approval of the award may be on such terms and
conditions as the Committee in its discretion determines are appropriate in accordance with the terms of the 2004 Plan.  
  
 (f) Confirmation of Outstanding Awards Made Under the Prior Agreement. As described in the Prior Agreement the Company made, and the
Committee approved, the following stock-based awards to the Executive. The Company and the Executive acknowledge that such awards, together with the awards described in sections 3(c), 3(d), and 3(e) of this Agreement, satisfy all obligations of the
Company pursuant to the Prior Agreement to grant stock-based awards to the Executive. 
  
 (i) The Company awarded to the Executive 5,000 shares of restricted stock under the Company’s 1994 Long-Term Incentive Plan (the “1994 Plan”) pursuant to section 3(h) of the Prior
Agreement. The restriction period for this award will end, and the shares will fully vest, on May 3, 2005 if the Executive has been continuously employed by the Company to that date. 
  
 (ii) The Company awarded to the Executive 250,000 shares of restricted stock under the Company’s 1997 Stock-Based
Incentive Plan (the “1997 Plan”) pursuant to section 3(f) of the Prior Agreement. The restriction period for this award will end, and the shares will fully vest, on May 31, 2006 unless prior to that date the Executive
voluntarily terminates the Executive’s employment with the Company. If the Executive dies prior to May 31, 2006, the Executive’s estate will receive a prorated portion of these shares, using the period from May 31, 2001 to May 31, 2006 as
the measurement period for purposes of proration. 
  
 (iii) The
Company awarded to the Executive 35,000 shares of restricted stock under the 1994 Plan pursuant to sections 3(c) and 3(d) of the Prior Agreement. The restriction period for this award will end, and the shares will fully vest, on April 1, 2005 if the
Executive has been continuously employed by the Company to that date. 
  
 (g) Effect of Change In Control on Stock-Based Awards. The 1994 Plan, the 1997 Plan, and the 2004 Plan each will govern the vesting of awards made to the Executive in accordance with the plan if a “Change in
Control” as defined in the plan occurs. 
  
 (h)
Payments in Lieu of Split-Dollar Insurance Obligation. The Company will pay to the Executive $50,000 annually for fourteen years, except that the Company’s obligation to make these annual payments will immediately cease if the
Company terminates the Executive’s employment for Cause or if the Executive dies. The Company will make the first annual payment on or before January 31, 2005 and will make the last annual payment on or before December 31, 2018. The Company
will make 
  

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 each payment on or before December 31. The Company will make these payments as a continuation of the Company’s
agreement contained in the Prior Agreement that the Company made to satisfy its prior obligation to maintain a split-dollar life insurance arrangement for the Executive. Each payment will be subject to the deduction of payroll taxes and similar
assessments as required by law. 
  
 4. Other
Benefits During the Term. During the Term the Executive will be entitled to participate in each employee benefit plan and to receive each executive benefit that the Company provides for senior executives at the level of the Executive’s
position. During the Term the Executive will be entitled to receive the following additional benefits, which the Company will provide at no cost to the Executive: (a) appropriate security for the Executive’s residences or reimbursement to the
Executive for the reasonable cost of such security; (b) long-term disability insurance (disability for twelve months or more) providing a benefit of $30,000 per month for the Executive’s lifetime to age 65; and (c) reimbursement for the
Executive’s cost of an annual physical examination at the Mayo Clinic or comparable medical facility. 
  
 5. Term; Termination Without Cause or for Good Reason. 
  
 (a) Term. Subject to the next sentence, the term of this Agreement will begin on the date of
this Agreement and end on October 1, 2008. Beginning on October 1, 2006, the October 1, 2008 term end date will be extended one year effective each October 1 unless either the Company or the Executive gives written notice to the other by the
preceding September 15 that the term will not be extended. Subject to subsection (b) of this section 5, if such a written notice is given, the term of this Agreement will become fixed and end either (i) on October 1, 2008 if the term has not been
extended in accordance with the preceding sentence, or (ii) on the applicable October 1 after October 1, 2008 if the term has been extended one or more times. The term of this Agreement determined in accordance with this subsection (a) is referred
to in this Agreement as the “Term.” 
  
 (b) Termination Without Cause or for Good Reason. The Company may terminate this Agreement at any time without Cause, and the Executive may terminate this Agreement at any time for Good Reason, in either case upon
thirty days’ prior written notice to the other. “Good Reason” means (i) a mandatory relocation by the Company of the Executive’s principal place of employment from the Memphis, Tennessee area or (ii) if a Change in
Control (as defined in the 2004 Plan) occurs, if the Executive terminates the Executive’s employment at any time following the first anniversary of the Change in Control. Non-renewal of this Agreement will not constitute termination without
Cause for purposes of this subsection (b). Upon termination of the Executive’s employment in accordance with this subsection (b), the Term will end and this Agreement will terminate except for section 5(c) and section 9, each of which will
continue in effect in accordance with its terms. 
  
 (c)
Payments and Benefits Upon Termination. Subject to the next sentence, if the Executive’s employment is terminated as described in subsection (b) of 
  

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 this section 5, the Company will pay, and otherwise make available, to the Executive the severance benefits, in addition
to all earned but unpaid wages, described in paragraphs (i) through (v) of this subsection (c). The Company’s obligation to pay, and otherwise make available to, the Executive the severance benefits described in paragraphs (i) through (v) of
this subsection (c) is subject to the Company’s receipt of a written release, in form and substance reasonably satisfactory to the Company, executed and delivered by the Executive in which the Executive releases the Company and its affiliates
from all claims of, and liabilities and obligations to, the Executive arising out of this Agreement. 
  
 (i) (A) if termination occurs prior to a Change in Control, an amount equal to three times Base Salary then in effect and (B) if termination occurs on or
after a Change in Control, an amount equal to three times the sum of Base Salary plus the Executive’s target bonus potential, in each case then in effect (the amount determined in (A) or (B) the “Severance Payment”); and
the Severance Payment will be paid by the Company in a lump sum within five days after the date of termination; 
  
 (ii) To the extent permitted by the 1994 Plan, the 1997 Plan, and the 2004 Plan, immediate vesting of all stock options, performance share awards, and
restricted stock awards with the ability to exercise stock options for the shorter of two years and the original expiration period of the option; 
  
 (iii) Participation in the Company’s health plans, with family coverage, during the Executive’s lifetime and following the Executive’s
death for his spouse at the time of death and children under the age of 21 for one additional year, except that if and during the period the Executive is engaged in full-time employment with a third party not affiliated with the Company providing
participation in health plans comparable to the Company’s health plans the Executive will not be entitled to participate in the Company’s health plans in accordance with this paragraph (iii); 
  
 (iv) Reimbursement for the reasonable costs of an appropriate off-site
office and one full-time secretary during the balance of the Term (ignoring for this purpose that the Term ends upon termination of the Executive’s employment) or three years, whichever is longer; and 
  
 (v) Associate discount privileges during the Executive’s lifetime for
merchandise purchased from the Company, subject to the terms and conditions of the associate discount privileges in effect from time to time. 
  
 6. Severance Payment Gross Up. 
  
 (a) Amount of Gross-up Payment. If at any time: 
  
 (i) the Severance Payment or other payment or distribution by the Company to the Executive or for the Executive’s
benefit (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this section) (all 
  

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 payments together are referred to as the “Subject Payments”) would be subject to the excise tax
imposed by Section 4999 of the Internal Revenue Code of 1986, as amended, or imposed by any comparable statute having a similar effect (together, “Section 4999”), or 
  
 (ii) the Executive incurs any interest or penalties with respect to the
excise tax imposed by Section 4999 (the excise tax imposed by Section 4999, together with related interest and penalties, are together referred to as the “Excise Tax”), 
  
 then, subject to the other subsections of this section 6, the Company will make an additional
payment or payments to the Executive (together, the “Gross-Up Payment”) in a total amount such that after the Executive’s payment of all taxes (and related interest or penalties), including without limitation (i) all
income taxes (and related interest and penalties) and (ii) the Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Subject Payments. 
  
 (b) Calculations; When Paid. Subject to the next
sentence, all determinations and calculations required to be made under this section from time to time will be made by a national independent accounting firm selected by the Executive (the “Selected Firm”), and the Company
will cause the determinations and calculations to be made and delivered to the Executive within ten days after the termination of employment at the Company’s expense. If the Selected Firm is serving as accountant or auditor for, or otherwise as
consultant to, the individual, entity, or group effecting the Change in Control, all determinations and calculations required to be made under this section from time to time will be made by another national independent accounting firm, selected by
the Executive in the Executive’s sole discretion, within ten days after the termination of employment at the Company’s expense. The Selected Firm or the other accounting firm selected by the Executive in accordance with this subsection is
referred to in this section as the “Accounting Firm.” Any Gross-Up Payment will be paid by the Company to the Executive within ten days after receipt by the Executive of the Accounting Firm’s determination. Subject to
subsection (b) of this section, any determination by the Accounting Firm will be binding upon the Company and the Executive in the absence of obvious error. 
  
 (c) Recalculations. If after the payment of the Gross-Up Payment the Company exhausts its remedies described in subsections (c) and
(d) of this section 6 and the Executive is required to make a payment of Excise Tax in an amount that is greater than the amount that the Accounting Firm assumed the Executive would be required to pay at the time of calculation of the Gross-up
Payment, the Accounting Firm will recalculate the Gross-Up Payment. If the recalculated Gross-Up Payment is greater than the amount of Gross-Up Payment paid to the Executive by the Company in accordance with paragraph (b) of this section, the
Company will pay the Executive an amount equal to the difference within ten days of receipt of the Accounting Firm’s recalculation. 
  

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 (d) IRS Claims. The Executive will give the Company written notice of any claim by
the Internal Revenue Service (within ten days after the Executive receives the claim) that, if successful, would require the Company to make a Gross-Up Payment to the Executive. Not later than ten days prior to the response date indicated in the
claim notice from the Internal Revenue Service, the Company will give the Executive written notice whether the Company intends to contest the claim. If the Company tells the Executive that it intends to contest the claim, the Executive will (i) not
pay the claim until the Company directs the Executive otherwise and (ii) fully cooperate in good faith with the Company concerning the claim, including without limitation accepting legal representation by a lawyer chosen by the Company in the
exercise of its reasonable discretion and allowing the Company to participate in the claim proceedings. The Company will pay directly all costs and expenses (including additional interest and penalties) incurred in, or as a result of, the contest
and will indemnify and hold the Executive harmless, on an after-tax basis, from all Excise Tax and income tax (and related interest and penalties) imposed as a result of the representation and payment of costs and expenses. 
  
 (e) The Company to Control Proceedings. The Company will
in good faith control all proceedings taken in the contest that directly relate to issues with respect to which a Gross-Up Payment would be payable. The Company may, at its sole option, either direct the Executive to pay the tax claimed and sue for
a refund or contest the claim in any permissible manner and the Executive will prosecute the contest in good faith as the Company may reasonably request. If the Company directs the Executive to pay the claim and sue for a refund, the Company will
advance the amount of the payment to the Executive, on an interest-free basis, and will indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (and related interest or penalties) imposed as a result of
the advance or on any related imputed income. Any extension of the statute of limitations relating to the Executive’s taxable year will be limited solely to the amount contested in accordance with this subsection. The Company’s control of
the contest will be limited to issues with respect to which a Gross-Up Payment would be payable, and the Executive may settle or contest all other issues as the Executive may determine in the Executive’s sole discretion. 
  
 7. Termination for Cause. The Company will have the
right to terminate the Executive’s employment under this Agreement for Cause, in which event no salary or bonus will be paid, and none of the benefits provided in this Agreement will be available, after termination for Cause. Termination for
Cause will be effective immediately upon notice sent or given to the Executive. For purposes of this Agreement, the term “Cause” will mean and be strictly limited to: (i) conviction of the Executive, after all applicable
rights of appeal have been exhausted or waived, for any felony crime that materially discredits the Company or is materially detrimental to the reputation or goodwill of the Company; or (ii) commission of any material act of fraud or dishonesty by
the Executive against the Company or commission of an immoral or unethical act that materially reflects negatively on the Company. 
  

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 8. Disability; Death; Retirement. 
  
 (a) If the Executive becomes disabled at any time during the Term,
the Executive will after the Executive becomes disabled continue to receive an amount equal to Base Salary and bonus, if earned (such amounts consisting of disability insurance payments and payments from the Company), and benefits provided in this
Agreement for a period of twelve consecutive months, or for the remaining Term, whichever period is shorter. If the Executive is disabled for more than twelve consecutive months during the Term, the Executive will, at the expiration of the initial
twelve consecutive month period, be entitled to receive an amount equal to 50% of Base Salary and bonus, if earned (such amounts consisting of disability insurance payments and payments from the Company), and benefits provided in this Agreement to
the end of Term. While the Executive is disabled, the Executive’s rights with respect to performance shares, restricted stock, and stock options will continue to vest as if the Executive were employed by the Company during the disability period
to the end of the Term. Following the end of the Term, the Executive will be entitled to participate in the Company’s health plans, with family coverage, during the Executive’s lifetime. For purposes of this Agreement, the term
“disabled” means the Executive’s inability (as the result of a physical or mental condition) to perform the duties of the Executive’s position under this Agreement with reasonable accommodation and which inability
is reasonably expected to last at least one full year. 
  
 (b) Death. This Agreement will terminate upon the Executive’s death, except as to: (i) the right of the Executive’s estate to exercise any unexercised stock options to the extent permitted by the 1994 Plan,
the 1997 Plan, and the 2004 Plan, (ii) other entitlements under this Agreement that expressly survive death, (iii) payment of earned but unpaid wages and benefits, and (iv) any rights that the Executive’s estate or dependents may have under
COBRA or any other federal or state law or that are derived independent of this Agreement by reason of the Executive’s participation in any plan maintained by the Company. 
  
 (c) Retirement. If the Executive’s employment with the Company terminates due to retirement, the
Company will provide the Executive with (i) participation in the Company’s health plans during the Executive’s lifetime and (ii) associate discount privileges during the Executive’s lifetime for merchandise purchased from the Company,
subject to the terms and conditions of the associate discount privileges in effect from time to time. 
  
 9. Protection of the Company’s Confidential Information and Goodwill. 
  
 (a) Confidential Information. For purposes of this
Agreement, “Confidential Information” includes, without limitation but subject to the next sentence, all documents and information of the Company or one of more of its subsidiaries, in all forms and mediums, concerning or
evidencing one or more of the following: sales; costs; pricing; strategies; forecasts and long-range plans; financial and tax information; 
  

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 personnel information; business, marketing, and operational projections, plans, and opportunities; and customer, vendor,
and supplier information. Confidential Information excludes any document or information that is or becomes available to the public other than as a result of any breach of this Agreement or other unauthorized disclosure by the Executive. Confidential
Information does not have to be designated as such to constitute Confidential Information. 
  
 (b) Non-Disclosure; Non-Competition; and Remedies. 
  
 (i) The Executive acknowledges and agrees that (A) the business of the Company and its subsidiaries is highly competitive, (B) that the Company and its
subsidiaries have expended considerable time and resources to develop good will with its customers, vendors, and others, and to create, exploit, and protect Confidential Information, (C) the Company and its subsidiaries must continue to prevent the
dilution of their goodwill and unauthorized use and disclosure of Confidential Information to avoid irreparable harm to their businesses, (D) the Executive’s participation in the business activities of the Company and its operating subsidiaries
is and will be integral to the continued operation, goodwill, and success of the business of the Company and its operating subsidiaries, (E) the Executive will be creating Confidential Information, and (F) the Executive will have access to
Confidential Information that could be used by third parties in a manner that would be detrimental to the competitive position of the Company or one of its operating subsidiaries. 
  
 (ii) The Company acknowledges and agrees that the Executive will need the benefits and use of the goodwill of the Company
and its subsidiaries and Confidential Information in order for the Executive to properly perform the Executive’s responsibilities in accordance with this Agreement. The Company will provide the Executive immediate access to new and additional
Confidential Information and authorizes the Executive to engage in activities that will create new and additional Confidential Information. The Executive acknowledges and agrees that the Executive will benefit during the Term from access to
Confidential Information, including without limitation as a result of the Executive’s increased earnings and earning capacity. 
  
 (iii) Accordingly, the Executive agrees that: 
  
 (A) All Confidential Information will remain the sole and exclusive property of the Company and its subsidiaries; 
  
 (B) The Executive will protect and safeguard all Confidential Information;

  
 (C) The Executive will hold all Confidential Information in
strictest confidence and not, directly or indirectly, disclose or divulge any Confidential Information to any person other than an employee of the Company or one of its subsidiaries to the extent necessary for the proper performance of the
Executive’s responsibilities unless authorized to do so by the Company or compelled to do so by law or valid legal process; 
  

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 (D) If the Executive believes the Executive is compelled by law or valid legal process to disclose or
divulge any Confidential Information, the Executive will notify the Company in writing sufficiently in advance of any such disclosure to give the Company the opportunity to take all actions necessary to protect the interests of the Company or its
subsidiaries against such disclosure; 
  
 (E) At the end of the
Executive’s employment pursuant to this Agreement for any reason or at the request of the Company at any time, the Executive will return to the Company all copies of all Confidential Information in all tangible forms and mediums; and

  
 (F) Absent the promises and representations of the Executive
in this paragraph (iii) and paragraph (iv) below, the Company would not provide the Executive with Confidential Information, would not authorize the Executive to engage in activities that would create new and additional Confidential Information, and
would not enter into this Agreement. 
  
 (iv) The Executive
agrees to not engage in a Prohibited Activity for the period beginning on the date of this Agreement and ending two years from the date of termination of the Executive’s employment for any reason. “Prohibited Activity”
means any one or more of the following: 
  
 (A) Directly or
indirectly disparaging the Company or any of its subsidiaries, or any products, services, or operations of the Company or any of its subsidiaries, or any former, current, or future officer, director, or employee of any the Company or any of its
subsidiaries; 
  
 (B) Whether on the Executive’s own behalf
or on behalf of any other individual, partner, firm, corporation, or business organization, either directly or indirectly soliciting or inducing or attempting to solicit or induce any person who is then employed by the Company or any of its
subsidiaries to leave that employment; 
  
 (C) Whether on the
Executive’s own behalf or on behalf of any other individual, partnership, firm, corporation, or business organization, either directly or indirectly soliciting or inducing, or attempting to solicit or induce any person who is then a customer,
supplier, or vendor of the Company or any of its subsidiaries to cease being a customer, supplier, or vendor of the Company or to divert all or any part of such person’s or entity’s business from the Company or any of its subsidiaries;

  
 (D) Associating, directly or indirectly, as an employee,
officer, director, agent, partner, owner, stockholder, representative, consultant, or vendor with, for, or on behalf of any Competitor (as defined below in this subparagraph (D) (each an “Association”), unless the Company in
the exercise of its reasonable discretion 
  

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 has approved each Association in accordance with the following sentence. The Company’s approval for an Association
will be evidenced exclusively by a written agreement that has been executed and delivered by, and is legally binding on, the Company and the Executive, that includes terms and conditions that the Company deems reasonably necessary to preserve its
goodwill and the confidentiality of the Confidential Information in accordance with this Agreement, and that includes all other terms and conditions that the Company determines in its sole discretion are reasonably necessary under the circumstances.
The restrictions in the foregoing sentences of this subparagraph (D) apply to the Executive’s direct and indirect performance of the same or similar activities the Executive has performed for the Company or any of its subsidiaries and to all
other activities that reasonably could lead to the disclosure of Confidential Information. The Executive will not have violated this subparagraph (D) solely as a result of the Executive’s investment in capital stock or other securities of a
Competitor or any of its Affiliates listed on a national securities exchange or actively traded in the over-the-counter market if the Executive and the members of the Executive’s immediate family together do not, directly or indirectly, hold
more than one percent of all such shares of capital stock or other securities issued and outstanding. For purposes of this subparagraph (D), solely for purposes of this Agreement the term “Competitor” means each of Federated
Department Stores, Inc., The May Department Stores Company, Dillard’s, Inc., Kohls Corporation, Belk, Inc., Limited Brands, Inc., J. C. Penney Co, Inc., Neiman Marcus Group, Inc., Nordstrom, Inc., and Target Corporation, and the Affiliates and
successors of each of them. For purposes of this subparagraph (D), “Affiliate” means with respect to a specific corporation, limited liability company, general or limited partnership, sole proprietorship, or other for profit
or non-profit business organization or association (each the “subject entity”), any other corporation, limited liability company, general or limited partnership, sole proprietorship, or other for profit or non-profit business
organization or association directly or indirectly controlling or controlled by or directly or indirectly under common control with the subject entity. 
  
 (v) The Executive acknowledges and agrees that (A) the restrictions contained in this section 9(b) are ancillary to an otherwise enforceable agreement,
(B) the agreements and undertakings of the Company in this Agreement and the Executive’s position and responsibilities with the Company give rise to, and are valid consideration for, the Company’s interest in restricting the
Executive’s post-employment activities, (C) the restrictions are reasonably designed to enforce the Executive’s agreements and undertakings in this section 9(b) and the Executive’s common-law obligations and duties owed to the Company
and its subsidiaries, (D) the restrictions are reasonable and necessary, valid and enforceable under Tennessee law, and do not impose a greater restraint than reasonably necessary to protect the goodwill and other legitimate business interests of
the Company and its subsidiaries and the Confidential Information, (E) the agreements and undertakings of the Company and the Executive in this section 9(b) are not contingent on the duration of the Executive’s employment with the Company; and
(F) absent the agreements and undertakings made by the Executive in this section 9(b), the Company would not provide the Executive with Confidential Information, would not authorize the Executive to engage in activities that would create new and
additional Confidential Information, and would not have entered into this Agreement. 
  

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 (vi) Without limiting the right of Company to pursue all other legal and equitable remedies available
for violation by the Executive of the Executive’s agreements in this section 9, the Executive agrees that such other remedies cannot fully compensate Company for any such violation and that the Company will be entitled to injunctive relief to
prevent any such violation or any continuing violation. The Executive also agrees that the Company will be entitled to recover its attorneys’ fees, expenses, and court costs, in addition to any other remedies to which the Company may be
entitled if the Executive breaches this Agreement. 
  
 (vii) The
Executive will forfeit all unexercised, unearned, and unpaid awards under the 1994 Plan, the 1997 Plan, and the 2004 Plan, including, but not by way of limitation, awards earned but not yet paid, all unpaid dividends and dividend equivalents, and
all interest, if any, accrued on the foregoing if (A) the Executive, without the written consent of the Company, engages directly or indirectly in an association that constitutes an Association; or (B) the Executive performs any act or engages in
any activity which in the opinion of the Company’s Board of Directors (expressed in a resolution adopted by a majority of the members of the Board of Directors) is inimical to the best interests of the Company. 
  
 (viii) If within six months following the Executive’s termination of
employment the Executive, without the written consent of the Company, engages directly or indirectly in an association that constitutes an Association, the Executive will be required to pay to the Company an amount in cash equal to the sum of the
following: (A) with respect to awards made under the 1994 Plan or the 2004 Plan consisting of stock options and stock appreciation rights, the amounts realized in connection with the Executive’s exercise of the options or the settlement of the
stock appreciation rights on or after, or within six months prior to, the Executive’s termination of employment; and (B) with respect to awards made under the Plan consisting of restricted stock, restricted stock units, performance shares,
performance share units, and performance units, the value of the awards that vested on or after, or within six months prior to, the Executive’s termination of employment, which value will be determined as of the date of vesting. 
  
 (ix) Subsections (vii) and (viii) will be void and of no legal effect upon a
Change in Control. 
  
 (x) If in any action before any court or
agency legally empowered to enforce the agreements contained in this section 9 any term, restriction, or agreement contained in this section 9 is found to be unreasonable or otherwise not permitted by applicable law, then such term, restriction, or
agreement will be deemed modified to the extent necessary to make it enforceable by such court or agency. 
  
 (xi) The agreements of the Executive contained in this section 9 will survive the end of the Executive’s employment by the Company for any and all
reasons. 
  

 12 

 10. General Provisions. 
  
 (a) Notices. Any notice to be given in this Agreement
by either party to the other may be effected by personal delivery, overnight courier, facsimile, electronic mail, or U.S. mail, registered or certified, postage prepaid with return receipt requested. Mailed notices will be addressed to the parties
at the addresses set forth below, but each party may change the Executive’s or its address by written notice in accordance with this section 10(a). Notices will be deemed communicated as of the actual receipt or refusal of receipt. 

 

			
	 If to the Executive:
	  	 R. Brad Martin
 1025 Cherry Road
 Memphis, TN 38117

		
	 If to the Company:
	  	 Saks Incorporated
 750 Lakeshore Parkway
 Birmingham, AL 35211
 Attention: General Counsel

  
 (b)
Partial Invalidity. If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable the remaining provisions will, nevertheless, continue in full force and without being impaired or
invalidated in any way. 
  
 (c) Resignation.
If the Executive’s employment is terminated, the Executive agrees to resign (i) as an officer of the Company (and all of its subsidiaries or affiliates), if applicable, and (ii) if requested by the Company’s Board of Directors, as a member
of the Company’s Board of Directors, in all situations effective as of the date of such termination. Upon termination of employment, the Executive agrees to return to the Company upon such termination any of the following which contain
confidential information: all documents, instruments, papers, facsimiles, and computerized information which are the property of the Company or such subsidiary or affiliate. 
  
 (d) No Conflicting Agreements. By signing this Agreement, the Executive warrants that the Executive is
not a party to any restrictive covenant, agreement or contract which limits the performance of the Executive’s duties and responsibilities under this Agreement or under which such performance would constitute a breach. 
  
 (e) Headings. The section and subsection headings of
this Agreement are for convenience or reference only and will not define or limit the provisions of this Agreement. 
  
 (f) Performance-Based Compensation. The Company intends that all bonus payments and performance share awards provided for in
this Agreement will constitute qualified performance-based compensation within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended. 
  

 13 

 (g) Attorney’s Fees. If any litigation or other proceeding is brought to
enforce any right or provision of in this Agreement, the Company will reimburse the Executive for reasonable costs incurred (including without limitation attorneys’ fees) by the Executive: (i) in the case of termination of employment that
occurs prior to a Change in Control only if the Executive substantially prevails, and (ii) in the case of termination of employment after a Change in Control regardless of the outcome of the action, with reimbursement being made as expenses are
incurred. 
  
 (h) Entire Agreement. Except
for prior awards of stock options, restricted stock, performance shares, and other stock benefits made under the 1994 Plan, the 1997 Plan, or the 2004 Plan, all of which the Company confirms, this Agreement supersedes any and all other agreements
between the Company and the Executive with respect to employment of the Executive by the Company (including without limitation the Prior Agreement) and contains all of the covenants and agreements between the Company and the Executive with respect
to the Executive’s employment. The Company and the Executive acknowledge that no representations, inducements, or agreements, oral or otherwise, that have not been embodied in this Agreement, and no other agreement, statement, or promise not
contained in this Agreement, will be valid or binding. Modifications of this Agreement will be effective only if written and signed by the party to be charged. 
  

(i) Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Tennessee.

  

	
	SAKS INCORPORATED
	
	 By:

	
	 /S/ CHARLES J. HANSEN

	 Charles J. Hansen

	 Executive Vice President and
 General Counsel

	
	 /S/ R. BRAD MARTIN

	 R. Brad Martin

  

 14Employment Agreement

 Exhibit 10.1 
  
 December 3, 2004 
  
 Mr. Sherman Atkinson 
 49 Montara 
 Aliso Viejo, CA 92656 
  

			
	Re:	 	Employment Agreement with Intermix Media, Inc.

  
 Dear Sherman: 
  
 On behalf of Intermix Media, Inc. (the “Company”), I am pleased to offer you
employment as the Chief Operating Officer of the Company on the terms and conditions set forth in this letter agreement (this “Agreement”). You may accept this Agreement by signing and returning a copy of this Agreement to the Company as
provided below. 
  
 1. Term of Employment. Your employment under this
Agreement shall commence as of November 22, 2004 (“Start Date”) and continue until March 31, 2007, or until such date as it may be terminated earlier by either you or the Company or extended by both you and the Company in a signed writing
(“Separation Date”). Your employment under this Agreement is terminable at will by you or the Company at any time (for any reason or for no reason) subject to the provisions of Section 3(g). 
  
 2. Position and Duties. During the term of this Agreement, the Company shall employ
you as the Chief Operating Officer (“COO”) and you shall report to the Chief Executive Officer (“CEO”) of the Company. Your duties shall be those assigned to you from time to time by the Company’s CEO consistent with duties
assigned to a Chief Operating Officer of a publicly-traded company of comparable size and with a similar business as the Company. You agree during the term of your employment with the Company to commit substantially all of your working time,
attention and efforts to the position on a full-time basis and to observe all Company policies applicable to senior executives of the Company and of which you are duly advised. This Agreement is personal to you and you may not assign or delegate any
of your rights or obligations hereunder without first obtaining the written consent of the Company.  
  
 3. Compensation and Benefits. In consideration for your services to the Company during the time period in which this Agreement is effective, you shall receive from the Company the compensation and benefits
described below. 
  
 (a) Base Salary. The Company shall
pay you an annual base salary at the rate of two hundred twenty-five thousand dollars ($225,000) per year to be paid in installments according to the Company’s regular payroll policy and practices. The Company shall withhold and deduct all
applicable federal and state income and employment and disability taxes from your base salary as required by applicable laws. You shall be eligible for discretionary annual increases in your base salary in connection with the Company’s annual
executive compensation and performance review conducted by the Board. 

 December 3, 2004 
 Page 2

  
 (b) Annual Incentive Opportunity. For fiscal year 2005
(ending March 31, 2005), you will be eligible to receive a cash bonus equal to (i) one-quarter of the percentage of annual base salary used in the calculation of bonuses payable to executives under the Company’s fiscal year 2005 senior
executive compensation plan (the “FY05 Comp Plan”), multiplied by (ii) $225,000, which amount, if any, shall be paid in accordance with the provisions of the FY05 Comp Plan. You shall thereafter be eligible to participate in any annual
bonus or incentive plan which the Board of Directors of the Company may, in its discretion, maintain or establish for the senior executives of the Company; provided, however, that for the Company’s 2006 fiscal year only, your annual bonus shall
be at least $67,500. 
  
 (c) Stock Option. You have been
granted an option to purchase 300,000 shares of the common stock of the Company at $4.01 per share (the “Option”), which Option is memorialized by, and subject to the terms and provisions described in, the notice of grant attached hereto
as Exhibit A. 
  
 (d) Signing Bonus and Relocation
Expenses. Upon execution of this Agreement, you shall receive a signing bonus in the amount of $25,000 subject to withholding therefrom of any applicable payroll taxes. In addition, the Company agrees to pay, upon presentation of appropriate
invoices, up to $15,000 of reasonable costs of temporary housing and the physical move of your household possessions and storage, if required, in connection with your relocation within three (3) months of your Start Date. 
  
 (e) Section 401(k) Plan and Other Benefits. As an employee of the
Company, you shall be eligible to participate in the Company’s 401(k) Plan, subject to the terms of that plan. You shall also be eligible to receive such other benefits or rights as may be provided under any employee benefit plans provided by
the Company to its executives that are now or hereafter will be in effect, including participation in life, medical, disability and dental insurance plans, subject in each instance to the terms and conditions of such plans and applicable policies of
the Company now or hereafter in effect. 
  
 (f) Vacation and
Sick Leave. You shall be entitled to accrue up to three (3) weeks of paid vacation each year of employment under this Agreement plus sick leave all on the same basis as the other senior executives of the Company and in accordance with the terms
and conditions of the vacation and sick leave policies of the Company. 
  
 (g) Termination Benefits. 
  
 (1) Termination
for Cause or Termination for Other than Good Reason. In the event that your employment with the Company is terminated by the Company for “Cause” (as defined below) or is terminated by you for reasons other than “Good Reason”
(as defined below) then you shall be entitled to payment of your accrued but unpaid salary and vacation pay through the date of the termination of your employment plus any accrued but unpaid Annual Incentive payments. 

 December 3, 2004 
 Page 3

  
 (2) Termination Without Cause or for Good Reason or
Termination Due to Death or Disability. In the event that your employment as COO of the Company is terminated by the Company without Cause, is terminated by you due to a Good Reason or is terminated due to your death or Disability, then you or
your estate (if applicable), in addition to the payments described in Section 3(g)(1) above and provided that you (unless you are deceased) execute an effective release with terms substantially as set forth in the attached Exhibit B, shall be
entitled to payment of your Base Salary and the cost of continued medical benefits under COBRA for the period of time beginning on the Separation Date and ending on the date that is the earlier of (i) 270 days after the Separation Date and (ii) the
date on which you begin new employment on a full-time basis. You agree, in the event you are receiving payments under this Section 3(g)(2) and until the time such payments terminate, to immediately inform the Company of any change in your employment
status. 
  
 (h) Definitions. 
  
 As used in this Agreement, the following terms shall have the meanings set
forth below: 
  
 (1) “Cause” shall mean:

  
 (i) your failure (other than due to Disability) to
materially comply with written Company policies generally applicable to Company executives or employees or with any directive of the Company’s CEO or Board of Directors that is reasonably achievable, that is not inconsistent with your position
or the fulfillment of your fiduciary duties and that is not otherwise prohibited by law or established public policy, subject to notice and a 30 day cure period to the extent curable; 
  
 (ii) your engagement in willful misconduct that is materially injurious to the Company; 
  
 (iii) your engagement in any activity that is a conflict of interest or
competitive with the Company, other than any action not taken in bad faith and which is promptly remedied by you upon notice by the Company; 
  
 (iv) your engaging in any act of fraud or dishonesty against the Company or any of its Affiliates or any material breach of federal or state securities
or commodities laws or regulations; 
  
 (v) your engaging in an
act of assault or other acts of violence in the workplace; 

 December 3, 2004 
 Page 4

  
 (vi) your harassment of any individual in the workplace based
on age, gender or other protected status or class or violation of any policy of the Company regarding harassment (subject to investigation by an independent third party of such harassment claim); or 
  
 (vii) your conviction, guilty plea or plea of nolo contendre for any
felony charge. 
  
 (2) “Disability”
shall mean a disability as determined under the Company’s long-term disability plan that prevents you from performing your duties under this Agreement (even with a reasonable accommodation by the Company) for a period of six months or more.

  
 (3) “Good Reason” shall mean
any one of the following without your consent: 
  
 (i) a
demotion or any action by the Company which results in substantial diminution of your position, authority, duties or responsibilities (other than any action not taken in bad faith and which is promptly remedied by the Company upon notice by you);

  
 (ii) requirement that you report to work more than 60 miles
from the Company’s existing headquarters (not including normal business travel required of your position); 
  
 (iii) a reduction in your base salary or benefits (unless, in the case of a reduction in benefits only, such reduction in benefits applies to all
officers of the Company); 
  
 (iv) a material breach by the
Company of its obligations hereunder which is not cured within thirty (30) days following written notice to the Company by you; or 
  
 (v) any failure by a successor to the Company to assume and agree to perform the Company’s obligations hereunder. 
  
 4. Employment and Post Termination Covenants. By accepting the terms of this Agreement
and as a condition for the termination payments and benefits contemplated by Section 3(g)(2), you hereby agree to the following covenants, in addition to any obligations you may have by law, and make the following representations. 
  
 (a) Confidentiality. You acknowledge that, in connection with your
employment by the Company, you will have access to trade secrets of the Company and other information and materials which the Company desires to keep confidential, including customer lists, supplier lists, financial statements, business records and
data, marketing and business plans, and information and materials relating to the Company’s services, products, methods of operation, key personnel, proprietary software and other proprietary intellectual property and information disclosed to
the Company of third parties to which the Company owes a duty of nondisclosure 

 December 3, 2004 
 Page 5

  
 (collectively, the “Confidential Information”); provided, however,
that Confidential Information does not include information which (i) is or becomes publicly known other than as a result of your actions in violation of this Agreement; (ii) is or becomes available to you from a source (other than the Company) that
you reasonably believe is not prohibited from disclosing such information to you by a contractual or fiduciary obligation to the Company, (iii) has been made available by the Company, directly or indirectly, to a non-affiliated third party without
obligation of confidentiality; or (iv) you are obligated to produce as a result of a court order or pursuant to governmental action or proceeding, provided that you give the Company prompt written notice of such requirement prior to such disclosure
and assistance in obtaining an order protecting such Confidential Information from public disclosure. You covenant and agree that, both during and after the term of your employment with the Company, you will keep secret all Confidential Information
and will not disclose, reveal, divulge or otherwise make known any Confidential Information to any person (other than the Company or its employees or agents in the course of performing you duties hereunder) or use any Confidential Information for
your own account or for the benefit of any other individual or entity, except with the prior written consent of the Company. 
  
 (b) Ownership of Intellectual Property. You agree that all inventions, copyrightable material, software, formulas, trademarks, trade secrets and
the like which are developed or conceived by you in the course of your employment by the Company or on the Company’s time or property (collectively, the “Intellectual Property”) shall be disclosed promptly to the Company and the
Company shall own all right, title and interest in and to the Intellectual Property. The parties expressly agree that any and all of the Intellectual Property developed by the Employee shall be considered works made-for-hire for the Company pursuant
to the United States Copyright Act of 1976, as amended from time to time. In order to ensure that the Company shall own all right, title and interest in and to the Intellectual Property in the event that any of the Intellectual Property is not
deemed a work made-for-hire (as defined in the Copyright Act of 1976) and in any other event, you hereby sell and assign all right, title and interest in and to all such Intellectual Property to the Company, and you covenant and agree to affix to
the Intellectual Property appropriate legends and copyright notices indicating the Company’s ownership of all Intellectual Property and all underlying documentation to the extent reasonably appropriate, and shall execute such instruments of
transfer, assignment, conveyance or confirmation as the Company reasonably considers necessary to transfer, confirm, vest, perfect, maintain or defend the Company’s right, title and interest in and to the Intellectual Property throughout the
world. Your obligation under this Section 4(b) to assign to the Company inventions created or conceived by you shall not apply to an invention that you developed entirely on your own time without using the Company’s equipment, supplies,
facilities, or trade secret information, provided that those inventions (1) do not or did not relate directly, at the time of conception or reduction to practice of the invention, to the Company’s business as conducted at such time or actual or
demonstrably anticipated research or development of the Company; and (2) do not or did not result from any work performed by you for the Company. 

 December 3, 2004 
 Page 6

  
 (c) Non-Solicitation. You agree for a period of not
less than one year following the last receipt of any payments under this Agreement that you shall not solicit the services or employment of the employees of the Company and you shall not divert clients or customers of the Company to the disadvantage
of the Company; provided that (i) general advertisements not specifically directed at employees of the Company shall not constitute solicitation for purposes of this clause (c) and (ii) this clause (c) shall not prohibit you from hiring employees of
the Company who first approach you seeking employment. 
  
 (d)
Non-Competition. You agree not to compete directly or indirectly as a principal, partner, shareholder, limited liability company member, agent, officer, directors, employee, consultant or in any other capacity, with any current or future
business of the Company during the period of your employment with the Company and during the post-employment period during which you are being paid compensation by the Company; provided that this clause (d) shall not prohibit you from acquiring
securities representing less than 5% of the voting interests of any entity (so long as you are not involved in the management of such entity). 
  
 (e) Authorization To Work for the Company. You represent that you are legally authorized to work in the United States and that your employment with
the Company shall not constitute a violation of any contractual or other legal obligation you may have to another entity or employer. 
  
 5. Business Expenses. You shall be entitled to reimbursement by the Company for such customary, ordinary and necessary business expenses as are incurred by you in
the performance of your duties and activities associated with promoting or maintaining the business of the Company. The reimbursement of expenses described in this paragraph shall be subject to and made in accordance with the Company’s existing
or subsequently adopted policies concerning same. 
  
 6. Return Of Company
Property. On the Separation Date or as earlier requested by the Company, you agree to return to the Company all Company documents (and all copies thereof) and other Company property in your possession or control, including, but not limited to,
Company files, correspondence, memos, notebooks, notes, drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property and equipment, credit cards, entry cards, identification
badges and keys; and any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in whole or in part) (collectively, the “Company Property”). You agree to
conduct a good faith and diligent search of your belongings in advance of the aforementioned deadline to ensure your compliance with the provisions of this Section 6. 
  
 7. Binding on Successors. This Agreement shall be binding upon the Company and any entity which is a successor by merger,
acquisition, consolidation or otherwise to the business formerly carried on by the Company, or an affiliate of any such entity, and becomes your employer by reason of (or as the direct result of) any direct or indirect sale or other disposition of
the Company or substantially all of the assets of the business currently carried on by the Company, without regard to whether or not such person actively adopts this letter agreement. 

 December 3, 2004 
 Page 7

  
 8. Arbitration. You agree that any future disputes between you and the
Company (the “parties”) including but not limited to disputes arising out of or related to this Agreement and Release of Claims, shall be resolved by binding arbitration except where the law specifically forbids the use of arbitration as a
final and binding remedy, or where section 8(g) below specifically allows a different remedy. 
  
 (a) The complainant shall provide the other party a written statement of the claim identifying any supporting witnesses or documents and the relief requested. 
  
 (b) The respondent shall furnish a statement of the relief, if any, that it
is willing to provide, and identifying supporting witnesses or documents. If the matter is not resolved, the parties agree to submit their dispute to a non-binding mediation paid for by the Company, provided, however, that if the amount in dispute
is $50,000 or less, this step may be waived at the election of either party. 
  
 (c) If the matter is not resolved, the parties agree that the dispute shall be resolved by binding arbitration according to the California Code of Civil Procedure, including the provisions of Section 1283.05,
pertaining to discovery. 
  
 (d) The arbitrator shall have the
authority to determine whether the conduct complained of in section 8(a) violates the complainant’s rights and, if so, to grant any relief authorized by law; subject to the exclusions of section (g) below. The arbitrator shall not have the
authority to modify, change or refuse to enforce any lawful term of this Agreement and Release of Claims. 
  
 (e) The Company shall bear the costs of the arbitration. If the Company prevails, you shall pay any litigation costs of the Company to the same extent as
if the matter had been heard in a court of general jurisdiction. Each party shall pay its own attorneys’ fees, unless the arbitrator orders otherwise, pursuant to applicable law. 
  
 (f) Arbitration shall be the exclusive final remedy for any dispute between the parties, such as disputes involving claims
for discrimination or harassment (such as claims under the Fair Employment and Housing Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, or the Age Discrimination in Employment Act), wrongful termination, breach of
contract, breach of public policy, physical or mental harm or distress or any other disputes, and the parties agree that no dispute shall be submitted to arbitration where the complainant has not complied with the preliminary steps provided for in
sections (a) and (b) above. 

 December 3, 2004 
 Page 8

  
 (g) The parties agree that the arbitration award shall be
enforceable in any court having jurisdiction to enforce this Agreement and Release of Claims, so long as the arbitrator’s findings of fact are supported by substantial evidence on the whole and the arbitrator has not made errors of law;
however, either party may bring an action in a court of competent jurisdiction, regarding or related to matters involving the Company’s confidential, proprietary or trade secret information, or regarding or related to inventions that you may
claim to have developed prior to or after joining the Company, seeking preliminary injunctive relief in court to preserve the status quo or prevent irreparable injury before the matter can be heard in arbitration. 
  
 (h) The arbitration shall be held in the city of Los Angeles, California,
unless the parties mutually agree to a different location for the arbitration. 
  
 9. Miscellaneous. 
  
 (a) This Agreement
constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the terms and conditions of your employment with the Company and your anticipated termination of employment. It is entered
into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations and any other written or oral statements concerning your
rights to any compensation, equity or benefits from the Company, its predecessors or successors in interest. 
  
 (b) Subject to the mandatory arbitration provided in Section 8 above, jurisdiction and venue in any action to enforce any arbitration award or to enjoin
any action that violates the terms of this Agreement shall be in the Superior Court of the County of Los Angeles or the U.S. District Court for the Central District of California. 
  
 (c) This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of
the Company. This Agreement shall bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this
Agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this Agreement and the provision in question shall be modified by the court so as to be rendered enforceable in a
manner consistent with the intent of the parties insofar as possible. Headings and subheadings in this Agreement are solely for convenience and do not constitute terms of this Agreement. 
  
 (d) This Agreement may be signed in counterparts and the counterparts taken together shall constitute one agreement.
Facsimile signatures shall be deemed as effective as original signatures. 

 December 3, 2004 
 Page 9

  
 (e) This Agreement shall be deemed to have been entered into
and shall be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. 
  
 If this Agreement is acceptable to you, please sign below and return the original, fully executed Agreement to Chris Lipp, General Counsel
and Corporate Secretary of the Company. A copy of the Agreement is also being provided to you for your records. 
  
 I and the other members of management and the Board of Directors of the Company look forward to your future contributions to the Company. 
  
 Sincerely, 
  

			
	INTERMIX MEDIA, INC.
		
	By:	 	 /s/ Richard Rosenblatt

	 	 	Richard Rosenblatt
	 	 	Chief Executive Officer

  

			
	AGREED AND ACCEPTED:	  	 
		
	 /s/ Sherman Atkinson

	  	December 3, 2004
	Sherman Atkinson	  	            Date

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