Document:

Employment Agreement Between Getty Images, Inc. and Jack Sansolo

 Exhibit 10.29 
 EXECUTION 
 

 
  
 EMPLOYMENT AGREEMENT

 THIS AGREEMENT, effective as of the November 8, 2004, by and between GETTY IMAGES, INC., a Delaware corporation (the
“Company”), whose principal executive offices are located at 601 N. 34th Street, Seattle, WA
98103, and Jack Sansolo, an individual (the “Executive”). 
 W I T N E S
S E T H: 
 WHEREAS, the Executive has been hired into the position of Senior Vice President, Chief
Marketing Officer of the Company; and 
 WHEREAS, both parties desire that the terms and conditions of the Executive’s employment
with the Company be governed by the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the promises
and the mutual covenants herein contained, the parties hereto hereby agree as follows: 
 1. Employment and Duties. 

(a) General. With effect from the date set forth above (the “Effective Date”), Executive agrees upon the terms and
conditions herein set forth to serve as Senior Vice President, Chief Marketing Officer of the Company and shall perform all duties customarily appurtenant to such position. In such capacity, the Executive shall report directly and only to the Chief
Executive Officer of the Company. The Executive’s principal place of business shall be 601 N. 34th Street,
Seattle, Washington 98103. 
 (b) Services and Duties. For so long as the Executive is employed by the Company hereunder, and except
as otherwise expressly provided in Section 1(c) below, the Executive shall devote Executive’s full business time to the performance of Executive’s duties hereunder; shall faithfully serve the Company; shall in all material respects
conform to and comply with the lawful and good faith directions and instructions given to Executive by Executive’s direct supervisor and shall use Executive’s best efforts to promote and serve the interests of the Company. 
 (c) No Other Employment. For so long as Executive is employed by the Company, Executive shall not, directly or indirectly, render services to any
other person or organization for which he receives compensation without the prior approval of the Executive’s direct supervisor. No such approval will be required if the Executive seeks to perform inconsequential services without direct
compensation therefore in 
  

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connection with the management of personal investments or in connection with the performance of charitable and civic activities, provided that such
activities do not contravene the provisions of Section 6 hereof. 
 (d) Payment for Services to be Performed; Obligations.
Compensation to be paid under this Agreement shall be made with regard to all the Executive’s services to be provided to the Company globally. 
 2. Term of Employment. The term of the Executive’s employment under this Agreement (the “Term”) shall commence on the Effective Date and continue until it is terminated by either party giving the
other written notice of termination. All severance obligations of the Company on the termination of this Agreement, if any, are set forth in Section 4 below. 
 3. Compensation and Other Benefits. Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation
for all services rendered hereunder: 
 (a) Salary. The Company shall pay to the Executive an annual salary (the
“Salary”) at the initial rate of Three Hundred Thousand Dollars ($300,000), payable to the Executive in accordance with the normal payroll practices of the Company for its executive officers as are in effect from time to
time. The amount of the Executive’s Salary shall be reviewed annually by Executive’s supervisor on or about April 1 of each year during the Term beginning in the 2005 calendar year. 
 (b) Annual Bonus. The Executive shall be eligible for each calendar year thereafter that begins with the Term to participate in an annual
incentive bonus program established by the Company in accordance with the policies of the Company and subject to such terms, conditions and performance targets as may be recommended by the Chief Executive Officer (“CEO”) and
approved annually by the Compensation Committee of the Board (the “Compensation Committee”). Under the terms of the annual bonus program, the Executive shall be eligible to earn a target bonus of forty percent (40%) of
Executive’s Salary (the “Bonus”) in effect for the applicable calendar year. 
 (c) Expenses. The Company
acknowledges that the successful operation of its business may require Executive to incur reasonable business expenses while rendering services to the Company for such things as business travel, lodging, meals and other business expenses. Executive
shall be reimbursed by the Company 

  

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for such expenses after presentation of appropriate receipts and statements, according to the procedures established by the Company. 
 (d) Vacation. The Company shall provide Executive with twenty (20) days of vacation with pay during each year of Executive’s employment
under this Agreement. In the event Executive ceases to be an employee of the Company for any reason, Executive shall not be paid for accrued but untaken vacation days. 
 (e) Other Specific Benefits and Perquisites. Executive and the CEO shall agree to any benefits to be provided to Executive pursuant to this
Section 3(e), subject to approval by the Compensation Committee. Any such benefits will be comparable to those provided to other SVPs residing in the U.S. For the avoidance of doubt, Executive will be covered by the Company’s
Directors’ & Officers’ insurance program. 
 (f) Medical and Other Related Benefits. The Company shall provide
Executive with Company disability and health insurance benefits consistent with those granted to other senior executives of the Company. Executive will be eligible to participate in any deferred compensation plan adopted by the Company for its
senior executives. 
 (g) Restricted Stock. The CEO will recommend that the Board of Directors grant Executive 15,000 restricted
shares of the Company’s common stock, , such shares to vest over a four year period, one fourth on the 1-year anniversary of the grant date of the award and monthly vesting on a pro-rata basis thereafter. A separate agreement will be provided
under separate cover. 
 4. Termination of Employment. Subject to the notice and other provisions of this Section 4, the Company
shall have the right to terminate Executive’s employment hereunder, and Executive shall have the right to resign, at any time for any reason or for no stated reason. 
 (a) Termination for Cause; Resignation Without Good Reason. 
 (i) If the Executive’s employment
is terminated by the Company for Cause (as defined in Section 4(a)(ii) below) or if the Executive resigns from Executive’s employment hereunder other than for Good Reason (as defined in Section 4(b)(ii) below), Executive shall be
entitled to payment of Executive’s Salary through and including the date of termination or resignation as well as any un-reimbursed expenses. Except to the extent required by the terms of any applicable compensation or benefit plan or program
or as otherwise required by applicable law, the Executive shall have no 

  

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rights under this Agreement or otherwise to receive any other compensation or to participate in any other plan, program or arrangement after such termination
or resignation of employment with respect to the year of such termination or resignation and later years. 
 (ii) Termination for
“Cause” shall mean termination of the Executive’s employment with the Company because of (A) willful, material or repeated non-performance of the Executive’s duties to the Company (other than by reason of the
incapacity of the Executive due to physical or mental disability) after notice of such failure and the Executive’s non-performance and continued, willful, material or repeated non-performance after such notice, (B) the indictment of the
Executive for a felony offense, (C) the commission by the Executive of fraud against the Company or any willful misconduct that brings the reputation of the Company into serious disrepute or causes the Executive to cease to be able to perform
Executive’s duties, or (D) any other material breach by the Executive of any material term of this Agreement. 
 (iii) Termination
of the Executive’s employment for Cause shall be communicated by delivery to the Executive of a written notice from the Company stating that the Executive has been terminated for Cause, specifying the particulars thereof and the effective date
of such termination. The date of a resignation by the Executive without Good Reason shall be the date specified in a written notice of resignation from the Executive to the Company. The Executive shall provide at least 30 days’ advance written
notice of resignation without Good Reason. 
 (b) Involuntary Termination. 
 (i) If the Company terminates the Executive’s employment for any reason other than Disability or Cause or Executive resigns from Executive’s
employment hereunder for Good Reason (collectively hereinafter referred to as an “Involuntary Termination”), the Company shall pay to the Executive Executive’s Salary and Accrued Bonus through and including the date of
termination or resignation as well as any un-reimbursed expenses. For purposes of this Agreement, “Accrued Bonus” shall be determined based on the target amount for which the Executive is eligible as described in
Section 3(b) above using the number of days in the applicable calendar year that the Executive was employed by the Company (through the date of termination or resignation). In addition, the Company shall pay to the Executive as severance (the
“Severance Payments”) within thirty (30) days after the date of termination a lump-sum payment in an amount equal to the sum of Executive’s Salary at the rate in effect immediately prior to such Involuntary
Termination plus fifty percent (50%) of the Executive’s Bonus based on the target amount for which the Executive is eligible as described in Section 3(b) above. 
  

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 (ii) Resignation for
“Good Reason” shall mean resignation by Executive because of (A) an adverse and material change in the Executive’s duties, (B) a material breach by the Company of a material term of this Agreement, (C) the
failure of the Company to pay the Executive any material amount of compensation when due, (D) a change in control, or (E) a relocation of the Executive’s principal place of business that exceeds 35 miles, without Executive’s
prior written consent. The Company shall have 30 business days from the date of receipt of such notice to effect a cure of the material breach described therein and, upon cure thereof by the Company to the reasonable satisfaction of the Executive,
such material breach shall no longer constitute Good Reason for purposes of this Agreement. 
 (iii) The date of termination of employment
without Cause shall be the date specified in a written notice of termination to the Executive. The date of resignation for Good Reason shall be the date specified in a written notice of resignation from the Executive to the Company; provided,
however, that no such written notice shall be effective unless the cure period specified in Section 4(b)(ii) above has expired without the Company having corrected, to the reasonable satisfaction of the Executive, the event or events
subject to cure. 
 (c) Termination following a Change in Control. Within thirty (30) calendar days following a Change of Control
(as the term “Change of Control” is defined in the Getty Images, Inc. 1998 Stock Incentive Plan, as amended from time to time), the Executive shall have the right to resign Executive’s employment with the Company. In
such an event, the Company shall pay to the Executive Executive’s Salary and Accrued Bonus through and including the date of resignation as well as any un-reimbursed expenses. Executive also will be entitled to receive within thirty
(30) days of the resignation date a lump-sum payment in an amount equal to two times Executive’s Salary at the rate in effect immediately prior to the Change of Control, plus one times the Executive’s Bonus based on the target amount
for which the Executive is eligible as described in Section 3(b) above. As per the terms of the Company’s Stock Option Plan, in the event of a Change in Control, (i) all Stock Options or Stock Appreciation Rights then outstanding
shall become fully exercisable as of the date of the Change in Control, whether or not then exercisable, (ii) all restrictions and conditions of all Stock Awards then outstanding shall lapse as of the date of the Change in Control, and
(iii) all Performance Share Awards shall be deemed to have been fully earned as of the date of the Change in Control. In each instance, no award shall be exercisable after the expiration of ten (10) years after the date the award was
granted (or any earlier expiration period as stated in the applicable award agreement). 
  

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 (d) Termination Due to
Disability. In the event of the Executive’s Disability (as hereinafter defined), the Company shall be entitled to terminate Executive’s employment on providing the Executive with six months’ prior written notice. In addition to
payment of Salary through and including the date of termination and any un-reimbursed business expenses, Executive will be entitled to receive within thirty (30) days of the termination date a lump-sum payment in an amount equal to
Executive’s Salary at the rate in effect immediately prior to the Disability, less any amounts paid to the Executive under any disability plan of the Company. As used in this Agreement, the term “Disability” shall mean a
physical or mental incapacity that substantially prevents the Executive from performing Executive’s duties hereunder and that has continued for at least six of the last twelve months and that can reasonably be expected to continue indefinitely.
Any dispute as to whether or not the Executive is disabled within the meaning of the preceding sentence shall be resolved by a physician reasonably satisfactory to the Executive and the Company, and the determination of such physician shall be final
and binding upon both the Executive and the Company. 
 (e) Beneficiary. For purposes of this Agreement,
“Beneficiary” shall mean the person or persons designated in writing by the Executive to receive benefits under a plan, program or arrangement or to receive the balance of the Severance Payments, if any, in the event of the
Executive’s death, or, if no such person or persons are designated by the Executive, the Executive’s estate. No beneficiary designation shall be effective unless it is in writing and received by the Company prior to the date of the
Executive’s death. 
 5. Limitation on Payments. 
 Notwithstanding any other provisions of this Agreement, if either the Company or the Executive receives confirmation from the Company’s independent tax counsel or its certified public accounting firm (the
“Tax Advisor”), that any termination benefit granted by the Company to the Executive under this Agreement or otherwise would be considered to be an “excess parachute payment” within the meaning of Section 280G
of the Internal Revenue Code of 1986, as amended, or any successor statute then in effect (the “Code”), then the following rules shall apply: 
 (a) The Company shall compute the net value to the Executive of all such termination benefits after reduction of the excise taxes imposed by Section 4999 of the Code and for any income taxes that would be imposed
on Executive if such termination benefits constituted Executive’s sole taxable income. 
 (b) The Company shall next compute the maximum
amount of termination benefits that can be provided without any benefits being characterized as 

  

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Excess Parachute Payments and reduce the result by the amount of any income taxes that would be imposed on Executive if such reduced termination benefits
constituted Executive’s sole taxable income. 
 If the result derived in subparagraph (i) is greater than the result derived in
subparagraph (ii), then the Company shall provide Executive the full amount of termination benefits without reduction. If the result derived from subparagraph (i) is not greater than the result derived in subparagraph (ii), then the Company
shall provide the Executive the maximum amount of termination benefits that can be provided without any termination benefits being characterized as “excess parachute payments.” 
 6. Protection of the Company’s Interests. 
 (a) No Competing Employment. For so long as the Executive is employed by the Company and continuing for six (6) months following the date on which the Executive’s employment is terminated (such period
being referred to hereinafter as the “Restricted Period”), the Executive shall not, without the prior written consent of the CEO, directly or indirectly, own an interest in, manage, operate, join, control, lend money or
render financial or other assistance to or participate in or be connected with, as an officer, executive, partner, stockholder, consultant or otherwise, any individual, partnership, firm, corporation or other business organization or entity that
competes with the Company by providing any goods or services provided or under development by the Company at the effective date of the Executive’s termination of employment under this Agreement; provided, however, that this
Section 6(a) shall not proscribe the Executive’s ownership, either directly or indirectly, of either less than five percent of any class of securities which are listed on a national securities exchange or quoted on the automated quotation
system of the National Association of Securities Dealers, Inc. or any limited partnership investment over which the Executive has no control. For the avoidance of doubt, as at the effective date of this Agreement, the following categories of
companies are not considered to be competitors of the Company: (i) companies which may sell images off of the Company’s platform or through partnership deals, such as MLBAM, GM or Amazon (although image partners whose companies are
primarily in the business of producing or licensing imagery, such as Digital Vision and Agence France Presse, are considered competitors), (ii) companies that offer images as part of search for free, non-commercial uses, such as Google or
Yahoo!, or (iii) companies which provide marketplace services such as Ebay which may have image and film products for sale as a limited and secondary part of their business. If the Company were to expand into these categories (i) –
(iii) at any time while Executive is employed by the Company or during the Restricted Period, then companies within these categories would be considered competitors of the Company for purposes of this Agreement. If any companies in the above
categories change their product or service 

  

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 offerings, then the Company at its sole and
reasonable discretion will determine whether those companies would then be considered competitors of the Company. 
 (b) No
Interference. During the Restricted Period, the Executive shall not, whether for his own account or for the account of any other individual, partnership, firm, corporation or other business organization (other than the Company), intentionally
solicit, endeavor to entice away from the Company or otherwise interfere with the relationship of the Company with, any key person or team who is employed by or otherwise engaged to perform services for the Company or any key person or team or
entity who is, or was within the then most recent twelve-month period, a customer, client or supplier of the Company. 
 (c) Secrecy.
The Executive recognizes that the services to be performed by him hereunder are special, unique and extraordinary in that, by reason of Executive’s employment hereunder, Executive may acquire Confidential Information concerning the operation of
the Company, the use or disclosure of which could cause the Company substantial losses and damages which could not be readily calculated and for which no remedy at law would be adequate. Accordingly, the Executive covenants and agrees with the
Company that Executive will not at any time, except in performance of the Executive’s obligations to the Company hereunder or with the prior written consent of the CEO, directly or indirectly disclose to any person any Confidential Information
that Executive may learn or has learned by reason of Executive’s association with the Company. The term “Confidential Information” means any information not previously disclosed to the public or to the trade by the
Company with respect to the Company’s, or any of its affiliates’ or subsidiaries’, products, services, facilities and methods, trade secrets and other intellectual property, systems, procedures, manuals, confidential reports, product
price lists, customer lists, financial information (including the revenues, costs or profits associated with any of the Company’s services or products), and business results, plans, prospects or opportunities. 
 (d) Exclusive Property. The Executive confirms that all Confidential Information is and shall remain the exclusive property of the Company. All
business records, papers and documents kept or made by the Executive relating to the business of the Company shall be and remain the property of the Company. Upon the termination of his employment with the Company or upon the request of the Company
at any time, the Executive shall promptly deliver to the Company, and shall not without the written consent of the CEO retain copies of, any written materials not previously made available to the public, or records and documents made by the
Executive or coming into Executive’s possession concerning the business or affairs of the Company; provided, however, that subsequent to any such termination, the Company shall provide 

  

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the Executive with copies (the cost of which shall be borne by the Executive) of any documents which are requested by the Executive and which the Executive
has determined in good faith are (i) required to establish a defense to a claim that the Executive has not complied with his duties hereunder or (ii) necessary to the Executive in order to comply with applicable law. 
 (e) Assignment of Developments. All Developments (as defined hereinafter) that were or are at any time made, conceived or suggested by Executive,
whether acting alone or in conjunction with others, during Executive’s employment with the Company shall be the sole and absolute property of the Company, free of any reserved or other rights of any kind on the part of Executive. During
Executive’s employment and, if such Developments were made, conceived or suggested by Executive during Executive’s employment with the Company, thereafter, Executive shall promptly make full disclosure of any such Developments to the
Company and, at the Company’s cost and expense, do all acts and things (including, among others, the execution and delivery under oath of patent and copyright applications and instruments of assignment) deemed by the Company to be necessary or
desirable at any time in order to effect the full assignment to the Company of Executive’s right and title, if any, to such Developments. For purposes of this Agreement, the term “Developments” shall mean all data,
discoveries, findings, reports, designs, inventions, improvements, methods, practices, techniques, developments, programs, concepts, and ideas, whether or not patentable, relating to the activities of the Company of which Executive is as of the date
of this Agreement aware or of which Executive becomes aware at any time during the Term, excluding any Development for which no equipment, supplies, facilities or Confidential Information of the Company was used and which was developed entirely on
Executive’s own time, unless (i) the Development relates directly to the business of the Company, (ii) the Development relates to actual or demonstrably anticipated research or development of the Company, or (iii) the Development
results from any work performed by Executive for the Company (the foregoing is agreed to satisfy the written notice and other requirements of Section 49.44.140 of the Revised Code of Washington). 
 (f) Injunctive Relief. Without intending to limit the remedies available to the Company, the Executive acknowledges that a breach of any of the
covenants contained in this Section 6 may result in material irreparable injury to the Company for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of
such a breach or threat thereof, the Company shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction restraining the Executive from engaging in activities prohibited by this Section 6 or such other
relief as may be required to specifically enforce any of the covenants in this Section 6. Without intending to limit the remedies available to the Company, the Company shall be entitled to seek specific performance of the Executive’s
obligations under this Agreement. 
  

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 (g) Compliance with Applicable
Securities Laws. The Executive shall during the continuance of Executive’s employment (and shall procure that Executive’s spouse or partner and Executive’s minor children shall comply) with all applicable rules of law, stock
exchange regulations and codes of conduct applicable to employees, officers and directors of the Company and the Company for the time being in force in relation to dealings in the shares, debentures and other securities of the Company or any
unpublished share price sensitive information affecting the securities of any other company with which the Company has dealings. 
 (h)
Compliance with Company Policy. During the continuance of Executive’s employment, Executive shall observe the terms of any policy issued by the Company in relation to payments, rebates, discounts, gifts, entertainment or other benefits
from any third party in respect of any business transacted or proposed to be transacted (whether or not by Executive) by or on behalf of the Company or any member of the Company. 
 7. General Provisions. 
 (a) Source
of Payments. All payments provided under this Agreement, other than payments made pursuant to a plan which provides otherwise, shall be paid in cash from the general funds of the Company, and no special or separate fund shall be established, and
no other segregation of assets made, to assure payment. Executive shall have no right, title or interest whatever in or to any investments which the Company may make to aid the Company in meeting its obligations hereunder. To the extent that any
person acquires a right to receive payments from the Company hereunder, such right shall be no greater than the right of an unsecured creditor of the Company; provided, however, that this provision shall not be deemed to waive or
abrogate any preferential or other rights to payment accruing to the Executive under applicable bankruptcy laws by virtue of the Executive’s status as an executive of the Company. 
 (b) No Other Severance Benefits. Except as specifically set forth in this Agreement, the Executive covenants and agrees that Executive shall not
be entitled to any other form of severance benefits from the Company, including, without limitation, benefits otherwise payable under any of the Company’s regular severance policies, in the event Executive’s employment hereunder ends for
any reason and, except with respect to obligations of the Company expressly provided for herein, the Executive unconditionally releases the Company and its subsidiaries and affiliates, and their 
  

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respective directors, officers, executives and stockholders, or any of them, from any and all claims, liabilities or obligations under this Agreement or
under any severance or termination arrangements of the Company or any of its subsidiaries or affiliates for compensation or benefits in connection with Executive’s employment or the termination thereof. 
 (c) Tax Withholding and Gross-Up. Payments to the Executive of all compensation contemplated under this Agreement shall be subject to all
applicable tax withholding. If it is determined that any payment made or benefit provided to Executive pursuant to Section 3(c) or 3(f) is subject to any income tax payable under any United States federal, state, local or other law, then
Executive may receive a tax gross-up payment with respect to such taxes. The tax gross-up payment, if any, will be an amount such that, after payment of taxes on such payment, there remains a balance sufficient to pay the taxes being reimbursed. Any
such tax gross-up payments will be made at the time Executive’s US federal income tax return for the applicable calendar year is filed. 
 (d) Notices. Any notice hereunder by either party to the other shall be given in writing by personal delivery, or certified mail, return receipt requested, or (if to the Company) by facsimile, in any case delivered to the applicable
address set forth below: 
  

			
	 (i) To the Company:
	 	Getty Images, Inc.
		 	Attn: Chief Executive Officer
		 	601 N. 34th Street
		 	Seattle, Washington 98103
		 	 Facsimile 1-206-925-5623
  

	 (ii) To the Executive:
	 	Jack Sansolo

 or to such other persons or other addresses as either party may specify to the other in writing. 
 (e) Representation by Executive. Executive represents and warrants that Executive’s entering into this Agreement does not, and that
Executive’s performance under this Agreement and consummation of the transactions contemplated hereby will not, violate the provisions of any agreement or instrument to which the Executive is a party, or any decree, judgment or order to which
the Executive is subject, and that this Agreement constitutes a valid and binding obligation of the Executive in accordance with its terms. Breach of this representation will render all of the Company’s obligations under this Agreement void
ab initio. 
  

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 (f) Limited Waiver. The
waiver by the Company or Executive of a violation of any of the provisions of this Agreement, whether express or implied, shall not operate or be construed as a waiver of any subsequent violation of any such provision. 
 (g) Assignment; Assumption of Agreement. No right, benefit or interest hereunder shall be subject to assignment, encumbrance, charge, pledge,
hypothecation or setoff by Executive in respect of any claim, debt, obligation or similar process. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business or assets of the Company to assume expressly and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 
 (h) Amendment; Actions by the Company. This Agreement may not be amended, modified or canceled except by written agreement of Executive and the
Company. Any and all determinations, judgments, reviews, verifications, adjustments, approvals, consents, waivers or other actions of the Company required or permitted under this Agreement shall be effective only if undertaken by the CEO.

 (i) Severability. If any term or provision hereof is determined to be invalid or unenforceable in a final court or arbitration
proceeding, (i) the remaining terms and provisions hereof shall be unimpaired and (ii) the invalid or unenforceable term or provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to
expressing the intention of the invalid or unenforceable term or provision. 
 (j) Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of the State of Washington (determined without regard to the choice of law provisions thereof). 
 (k) Entire Agreement. This Agreement sets forth the entire agreement and understanding of the parties hereto with respect to the matters covered hereby and supersedes all prior agreements and understandings of the parties with
respect to the subject matter hereof. 
  

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 (l) Headings. The headings
and captions of the sections of this Agreement are included solely for convenience of reference and shall not control the meaning or interpretation of any provisions of this Agreement. 
 (m) Counterparts. This Agreement may be executed by the parties hereto in counterparts, each of which shall be deemed an original, but both such
counterparts shall together constitute one and the same document. 
 IN WITNESS WHEREOF, the parties have executed this Agreement effective
as of the day and year first written above. 
  

			
	GETTY IMAGES, INC.
		
	By:	  	/s/    JONATHAN D. KLEIN
	 Name:
	  	 Jonathan D. Klein

	 Title:
	  	 Chief Executive Officer

  

			
	EXECUTIVE
		
	By:	  	/S/    JACK SANSOLO
	 Name:
	  	 Jack Sansolo

	 Title:
	  	 SVP, Chief Marketing Officer

  

 Page 13 of 13Share Purchase Agreement Between Amana Inc. and Getty Images

 Exhibit 10.36 
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 [CONFIDENTIAL]

  
 SHARE PURCHASE AGREEMENT 
  
 by and between 
  
 AMANA INC. 
 and 
 GETTY IMAGES, INC.  
  
  
 Dated as of
May 12, 2005 

 TABLE OF CONTENTS 
  

					
			
	 	  	 	  	Page
			
	 ARTICLE I  
	  	SALE AND PURCHASE OF SHARES	  	1
			
	 1.1  
	  	Sale and Purchase of Shares	  	1
			
	 ARTICLE II
	  	PURCHASE PRICE AND CLOSING	  	1
			
	 2.1  
	  	Purchase Price	  	1
			
	 2.2  
	  	Payment of Intracompany Debts	  	2
			
	 2.3  
	  	Closing	  	2
			
	 ARTICLE III
	  	REPRESENTATIONS AND WARRANTIES OF SELLER	  	3
			
	 3.1  
	  	Organization of Seller	  	3
			
	 3.2  
	  	No Seller Conflict or Default	  	3
			
	 3.3  
	  	Organization of the Companies	  	3
			
	 3.4  
	  	Capitalization	  	4
			
	 3.5  
	  	Subsidiaries	  	4
			
	 3.6  
	  	Financial Statements	  	5
			
	 3.7  
	  	Accounts Receivable	  	5
			
	 3.8  
	  	Absence of Certain Changes or Events	  	5
			
	 3.9  
	  	Personal Property	  	7
			
	 3.10
	  	Real Property	  	8
			
	 3.11
	  	Intellectual Property (other than Images)	  	9
			
	 3.12
	  	Intellectual Property - Images	  	10
			
	 3.13
	  	Litigation	  	11
			
	 3.14
	  	Taxes	  	12
			
	 3.15
	  	Contracts and Commitments	  	15
			
	 3.16
	  	Compliance with Laws	  	16
			
	 3.17
	  	Labor Matters	  	17
			
	 3.18
	  	Environmental Matters	  	18
			
	 3.19
	  	Employee Plans	  	18
			
	 3.20
	  	Insurance	  	20
			
	 3.21
	  	Certain Relationships and Interests	  	20
			
	 3.22
	  	Books and Records	  	20
			
	 3.23
	  	Insolvency	  	21
			
	 3.24
	  	Brokers’ or Finders’ Fees	  	21
			
	 3.25
	  	Exclusivity of Representations	  	21

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
			
	 	  	 	  	Page
			
	 3.26
	  	Separate and Independent	  	21
			
	 ARTICLE IV
	  	REPRESENTATIONS AND WARRANTIES OF BUYER	  	21
			
	 4.1  
	  	Organization; Authority	  	21
			
	 4.2  
	  	No Buyer Conflict or Default	  	22
			
	 4.3  
	  	Litigation	  	22
			
	 4.4  
	  	Funding	  	22
			
	 4.5  
	  	Investigation	  	22
			
	 4.6  
	  	No Reliance	  	22
			
	 ARTICLE V
	  	COVENANTS OF THE PARTIES	  	23
			
	 5.1  
	  	Conduct of the Company’s Business	  	23
			
	 5.2  
	  	Reasonable Commercial Efforts	  	25
			
	 5.3  
	  	Consents	  	25
			
	 5.4  
	  	Public Announcements; Confidentiality	  	25
			
	 5.5  
	  	Prompt Notice	  	25
			
	 5.6  
	  	Access	  	26
			
	 5.7  
	  	Exclusivity; Acquisition Proposals	  	26
			
	 5.8  
	  	Tax Covenants	  	26
			
	 5.9  
	  	Supply Agreements	  	27
			
	 5.10
	  	Seller Trademarks	  	28
			
	 5.11
	  	Post-Closing Cooperation	  	28
			
	 5.12
	  	Seller Guaranties	  	28
			
	 5.13
	  	Transition Services Agreement	  	28
			
	 5.14
	  	Transfer of Illustrator Contracts	  	28
			
	 5.15
	  	Analog Archive	  	29
			
	 5.16
	  	Photonica Mark	  	29
			
	 5.17
	  	Getty Litigation	  	29
			
	 5.18
	  	US 401(k) Plan	  	29
			
	 5.19
	  	Agreements with Seller	  	29
			
	 ARTICLE VI
	  	CONDITIONS TO CLOSING	  	29
			
	 6.1  
	  	Conditions to Seller’s Obligations	  	29
			
	 6.2  
	  	Conditions to Buyer’s Obligations	  	30
			
	 6.3  
	  	Reliance	  	31

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
			
	 	  	 	  	Page
			
	 ARTICLE VII
	  	TERMINATION	  	31
			
	 7.1  
	  	Termination	  	31
			
	 7.2  
	  	Procedure and Effect of Termination	  	32
			
	 ARTICLE VIII
	  	INDEMNIFICATION	  	32
			
	 8.1  
	  	Survival	  	32
			
	 8.2  
	  	Indemnification by Buyer	  	32
			
	 8.3  
	  	Indemnification by Seller	  	33
			
	 8.4  
	  	Notification of Claims	  	33
			
	 8.5  
	  	Exclusive Remedies	  	35
			
	 ARTICLE IX
	  	MISCELLANEOUS	  	35
			
	 9.1  
	  	Further Assurances	  	35
			
	 9.2  
	  	Notices	  	35
			
	 9.3  
	  	Exhibits and Schedules	  	36
			
	 9.4  
	  	Amendment, Modification and Waiver	  	36
			
	 9.5  
	  	Entire Agreement	  	36
			
	 9.6  
	  	Severability	  	36
			
	 9.7  
	  	Binding Effect; Assignment	  	36
			
	 9.8  
	  	No Third-Party Beneficiaries	  	37
			
	 9.9  
	  	Fees and Expenses/Transfer Taxes	  	37
			
	 9.10
	  	Counterparts	  	37
			
	 9.11
	  	Interpretation	  	37
			
	 9.12
	  	Enforcement of Agreement	  	37
			
	 9.13
	  	Forum; Service of Process	  	38
			
	 9.14
	  	Governing Law	  	38
			
	 9.15
	  	WAIVER OF JURY TRIAL	  	38
			
	 ARTICLE X
	  	DEFINITIONS	  	39

  

 -iii- 

 EXECUTION 
 SHARE PURCHASE AGREEMENT 
 THIS SHARE PURCHASE AGREEMENT (this
“Agreement”), dated as of May 12 , 2005 (“Effective Date”), by and among Getty Images, Inc., a Delaware corporation (“Buyer”), and Amana Inc., a corporation organized under the
laws of Japan (“Seller”). 
 RECITALS 
 A. Seller owns all of the issued and outstanding shares (the “Shares”) of the common stock of Amana America, Inc.
(“Amana US”), a Delaware corporation, Amana Europe Limited, a company organized and existing under the laws of England and Wales (“Amana EU”), and Iconica Limited, a company organized and existing
under the laws of England and Wales (“Iconica”) (collectively, “Companies” and each a “Company”). 
 B. Amana EU owns all of the issued and outstanding shares of the common stock of Amana Germany GmbH, a company established and existing under the laws of Germany (“Amana-Germany”), Amana France
S.A.S., a French société par actions simplifiée (“Amana-France”) and Amana Italy S.a.r.l., a company organized and existing under the laws of Italy (“Amana-Italy”).

 C. Buyer wishes to purchase the Shares from Seller and Seller wishes to sell the Shares to Buyer, in each case on terms and conditions set
forth in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and
agreements set forth herein, and subject to the terms and conditions set forth herein, the parties hereby agree as follows: 
 ARTICLE I

 SALE AND PURCHASE OF SHARES 
 1.1 Sale and Purchase of Shares. Subject to the terms and conditions of this Agreement, at the Closing on the Closing Date, Seller shall sell, transfer, assign, convey and deliver to Buyer, and Buyer will
purchase from Seller, the Shares. Buyer may (upon written consent of Seller, which shall not unreasonably be withheld) assign to one or more Affiliates of Buyer, all or part of its rights to purchase the Shares of any of the Companies or
Subsidiaries. A failure of Buyer to provide Seller with a full indemnity for reasonably quantifiable additional costs and liabilities arising from any such assignment shall be reasonable grounds for Seller to withhold consent. 
 ARTICLE II 
 PURCHASE PRICE AND
CLOSING 
 2.1 Purchase Price. In consideration of the sale and transfer of the Shares and the representations, warranties and
covenants set forth herein, at the Closing, Buyer shall pay Seller the following: 
 (a) The aggregate purchase price (the
“Purchase Price”) of Fifty One Million United States Dollars ($51,000,000), payable by wire transfer of immediately available funds to an account designated by Seller in writing, reduced by: 

 EXECUTION 
 (b) the amount of Third Party Debt and Intracompany Debt outstanding as of Closing. 
 (c) The parties agree
that the allocation of the Purchase Price shall be as follows: $24,000,000 for the Shares of Amana US, $18,000,000 for the Shares of Amana EU (including the value of the shares of Amana-Italy, but excluding the value of the shares of Amana-Germany
and Amana-Italy), $5,000,000 for the Shares of Iconica, $2,000,000 for the Shares of Amana-Germany, and $2,000,000 for the Shares of Amana-France. Each party agrees to report the Tax consequences of the transactions contemplated by this Agreement in
a manner consistent with such allocation and shall not take any position inconsistent therewith upon any examination of any Tax Return, in any refund claim, or any Action or otherwise unless otherwise required by a “determination” as
defined in Section 1313(a) of the Code. 
 2.2 Payment of Intracompany Debts. At the Closing, Buyer shall, in purchase of the
Intracompany Debts, pay to Seller in full an amount equal to the aggregate amount of the Intracompany Debts outstanding as of Closing by wire transfer of immediately available funds to an account designated by Seller in writing and Seller shall
simultaneously herewith assign to Buyer all rights it has to such Intracompany Debts by executing such instruments as Buyer may reasonably request. 
 2.3 Closing. 
 (a) Subject to the terms and conditions of this Agreement, the sale and purchase of the Shares contemplated
hereby (the “Closing”) will take place at the offices of Getty Images, 601 North 34th
Street, Seattle, Washington, USA, on the Business Day following the satisfaction or waiver of each of the conditions set forth in Article VI (other than those conditions that are to be satisfied at the Closing), or on such other
date or at such other time and place as the parties mutually agree in writing (the “Closing Date”). 
 (b) At the
Closing, Seller shall deliver to Buyer the following: 
 (i) Closing Certificate. A certificate, dated as of the
Closing Date, executed on Seller’s behalf by an executive officer or director, certifying the fulfillment of the conditions specified in Sections 6.2(a) and 6.2(b) (the “Seller Closing
Certificate”); 
 (ii) Share Certificates. The share certificates representing all of the Shares, all duly
endorsed by Seller to Buyer; 
 (iii) Transaction Agreements. Counterparts executed by Seller and the relevant
Companies and Subsidiaries, as appropriate, to the Transaction Agreements to which Seller and the Companies or Subsidiaries are parties; and 
 (iv) Other Deliveries. All other documents, certificates, instruments and writings required to be delivered by Seller on or prior to the Closing Date pursuant to this Agreement or otherwise required in
connection therewith. 
 (c) At the Closing, Buyer shall pay the Purchase Price in accordance with Section 2.1 and shall
deliver to Seller the following: 
  

 2 

 EXECUTION 
 (i) Closing Certificate. A certificate, dated as of the Closing Date, executed on Buyer’s behalf by an executive officer or
director, certifying the fulfillment of the conditions specified in Sections 6.1(a) and 6.1(b) (the “Buyer Closing Certificate”); 
 (ii) Transaction Agreements. Counterparts executed by Buyer to the Transaction Agreements to which Buyer is a party; and

 (iii) Other Deliveries. All other documents, certificates, instruments, releases and writings required to be
delivered by Buyer on or prior to the Closing Date pursuant to this Agreement or otherwise required in connection therewith. 
 ARTICLE III

 REPRESENTATIONS AND WARRANTIES OF SELLER 
 Except as set forth in a correspondingly numbered disclosure schedule delivered by Seller to Buyer dated as of the date hereof and arranged in paragraphs corresponding to numbered and lettered sections contained in
this ARTICLE III (the “Disclosure Schedule”), Seller represents and warrants to Buyer as follows: 
 3.1 Organization of Seller. Seller is a corporation duly incorporated, validly existing and in good standing under the laws of Japan and has all requisite power and authority to enter into this Agreement and each Transaction
Agreement to which it is a party and any other agreements contemplated by this Agreement to be entered into by Seller and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Seller of this Agreement and each
such Transaction Agreement and the consummation by Seller of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of Seller. This Agreement has been, and at the Closing each such Transaction
Agreement will be, duly executed and delivered by Seller. This Agreement constitutes a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally and, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 3.2 No Seller Conflict or Default. Except as described on Section 3.2 of the Disclosure Schedule, neither the
execution and delivery of this Agreement or the Transaction Agreements by any of Seller, the Companies or Subsidiaries, nor the consummation by Seller, the Companies or Subsidiaries of any of the transactions contemplated herein and the Transaction
Agreements, will result in a violation of, or a default under, or conflict with, or require any consent, approval or notice under, any contract, trust, commitment, agreement, obligation, understanding, arrangement or restriction of any kind to which
any of Seller, the Companies or Subsidiaries is a party or by which any of Seller, the Companies or Subsidiaries is bound or to which the Shares are subject. Consummation by Seller of the transactions contemplated herein will not violate, or require
any consent, approval or notice under, or filing or registration with, any Person or under any provision of any judgment, order, decree, statute, law, rule or regulation applicable to Seller, the Companies, Subsidiaries, or the Shares except
(a) as described in Section 3.2 of the Disclosure Schedule, (b) any filing required under U.S., U.K., Italian, French, German or European merger or equivalent laws or regulations, or (c) as may be necessary as a
result of any facts or circumstances relating solely to Buyer. 
 3.3 Organization of the Companies. Each Company and Subsidiary, as
applicable, is duly organized, validly existing, duly incorporated and subsistent and in good standing under the laws of the 

  

 3 

 
EXECUTION 
 jurisdiction of its incorporation, and has
all requisite power and authority to enter into the Transaction Agreements and the other agreements contemplated by this Agreement to be entered into by such Company or Subsidiary, as appropriate, prior to or at Closing and to consummate the
transactions contemplated hereby, to own, lease and operate its properties and to conduct its business. The execution and delivery by the Companies and Subsidiaries of each Transaction Agreement, as applicable, and the consummation by the Companies
and Subsidiaries of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Companies and Subsidiaries. Each Company and Subsidiary is duly qualified or licensed to do business as a foreign
corporation and is in good standing in each jurisdiction in which the property owned, leased or operated by it or the nature of the business conducted by it makes such qualification necessary. 
 3.4 Capitalization. 
 (a) Section 3.4(a) of the Disclosure Schedule sets forth the authorized, issued and outstanding Equity Securities of each Company. Except as set forth in Section 3.4(a) of the Disclosure Schedule, there
are no shares of Equity Securities of any Company issued, reserved for issuance or outstanding and no outstanding options, warrants, convertible or exchangeable securities, subscriptions, rights (including any preemptive rights), stock appreciation
rights, calls or commitments of any character whatsoever to which any of the Companies is a party or may be bound requiring the issuance or sale of shares of any Equity Securities. 
 (b) All of the allotted, issued and outstanding shares of Equity Securities, of the Companies are duly authorized, validly issued, fully
paid and non-assessable and free of any preemptive rights in respect thereto, and are owned by Seller free and clear of any Liens other than as set forth in Section 3.4(b) of the Disclosure Schedule. 
 (c) None of the Companies or the Subsidiaries has at any time provided any “financial assistance”, whether directly or
indirectly, for the purpose of the acquisition of its shares or any holding company or for the purpose of reducing or discharging any liability incurred in such an acquisition in breach of section 151 of the UK Companies Act 1985 (as amended) in
relation to the UK Companies or under equivalent Applicable Laws in relation to the other Companies or Subsidiaries. 
 (d)
Each of the Companies and the Subsidiaries has at all times carried out its business and affairs within the powers and in accordance with the provisions of its organizational documents, which set out fully the rights and restrictions attaching to
each class of Equity Securities of the Companies and the Subsidiaries. 
 (e) Except as set forth in
Section 3.4(e) of the Disclosure Schedule and except for Seller’s interest in the Companies, none of the Companies has since its incorporation been a subsidiary of any Person. 
 3.5 Subsidiaries. Section 3.5 of the Disclosure Schedule lists all subsidiaries (the “Subsidiaries”) of
each Company and the authorized, issued and outstanding Equity Securities of each such Subsidiary. The outstanding shares of Equity Securities of each Subsidiary are duly authorized, validly issued, fully paid and non-assessable and are wholly owned
by Seller or the Company indicated in Section 3.5 of the Disclosure Schedule, directly or through one or more Subsidiaries, free and clear of any Liens other than such Liens as set forth on Section 3.5 of the
Disclosure Schedule. There are no other holders of any Equity Securities of the Subsidiaries other than the Companies, Subsidiaries or Seller. Except as set forth in Section 3.5 of the Disclosure Schedule, there are no shares of
Equity Securities of any Subsidiary issued, reserved for issuance or outstanding and no outstanding options, warrants, convertible or exchangeable securities, subscriptions, rights (including any preemptive 

  

 4 

 
EXECUTION 
 rights), stock appreciation rights, calls or
commitments of any character whatsoever to which the Subsidiaries are a party or may be bound requiring the issuance or sale of shares of any Equity Securities of the Subsidiaries. Except for the Subsidiaries set forth in
Section 3.5 of the Disclosure Schedule, no Company owns or, since December 31, 2003, has owned, directly or indirectly, any ownership, equity, profits or voting interest in, or otherwise control, any corporation, partnership,
joint venture or other entity, and has no agreement or commitment to purchase any such interest. 
 3.6 Financial Statements. For each
Company, Seller has heretofore delivered to Buyer copies of (a) the audited consolidated balance sheets as of December 31, 2003 and 2004 and the related audited consolidated statements of operations, changes in stockholders equity and,
with respect to Amana US only, cash flows for the fiscal years then ended, (b) the unaudited statements of cash flows for Amana EU and Iconica for the fiscal years ended December 31, 2003 and 2004 (together with (a), the “Annual
Financial Statements”), (c) an unaudited balance sheet as of March 31, 2005, and (d) an unaudited statement of cash flows as of March 31, 2005 (together with (c), the “Interim Financial
Statements”) (the Annual Financial Statements and Interim Financial Statements are collectively referred to as the “Financial Statements”). The Financial Statements (i) have been prepared from the books and
records of each Company and its Subsidiaries, as applicable, for which the Financial Statements relate, (ii) fairly present in all material respects the consolidated financial condition and the results of operations and cash flows of each
Company and its Subsidiaries, as applicable, as of the dates and for the periods indicated and (iii) have been prepared in accordance with generally accepted accounting principles (“GAAP”) of the United States in the
case of Amana US and the United Kingdom in the case of Amana EU and Iconica, in each case, applied consistently throughout and among the periods covered thereby; provided, however, that the Interim Financial Statements are subject to
normal year-end adjustments, and do not contain all footnotes required under the applicable GAAP. No Company or Subsidiary is a guarantor, indemnitor, surety or other obligor of any indebtedness of any other Person. 
 3.7 Accounts Receivable. All accounts receivable of the Companies and Subsidiaries at the time of Closing
(“Accounts”) represent amounts due for services performed or sales actually made in the ordinary course of business and properly reflect the amounts due. The bad debt reserves and allowances reflected against such
accounts receivable were made consistent with past practices and in accordance with applicable GAAP consistently applied. 
 3.8 Absence
of Certain Changes or Events. Except as set forth in Section 3.8 of the Disclosure Schedule or as otherwise contemplated by this Agreement, during the period from March 31, 2005 to the date of this Agreement, there has
not been any: 
 (a) capital expenditure by any of the Companies or Subsidiaries exceeding $50,000 in the aggregate (for all purposes
relevant to ARTICLES III and V, (i) expenditures or costs of any of the Companies or Subsidiaries in a currency other than Dollars shall be converted into Dollars at the prevailing inter-bank exchange rate on a spot
basis in New York, New York (such exchange rate mechanism, the “Designated Exchange Rate”) on the last Business Day before the execution of this Agreement) and (ii) ”in the aggregate” shall mean for all
Companies and Subsidiaries considered collectively as a whole; 
 (b) entering into, assumption, amendment or termination of any Material
Contract by any of the Companies or Subsidiaries, except in the ordinary course of business consistent with past practice, or notice received that there will be a loss of, alteration or contract cancellation of, any Material Contract, except as
specifically contemplated by this Agreement; 
  

 5 

 EXECUTION 
 (c) change in accounting methods or practices (including any change in depreciation or amortization policies or rates) by any of the Companies or Subsidiaries; 
 (d) any election or change in any election concerning Taxes, any adoption or change in any Tax accounting method or practice, or any change in any Tax
accounting period; 
 (e) revaluation by any of the Companies or Subsidiaries of any of their assets for book or Tax purposes
or for any fluctuations in exchange rates with respect to foreign currencies; 
 (f) increase in the salary or other compensation or benefits
payable or to become payable by any of the Companies or Subsidiaries to any of its officers, directors, employees, consultants, or contractors (including photographers), or the declaration, payment or commitment or obligation of any kind for the
payment of a bonus or other additional salary or compensation to any such person, except increases in compensation granted as part of the annual staff reviews and bonuses awarded to employees in connection with 2004 work performance consistent with
past practices; 
 (g) except for any sale or disposal of used Equipment, the net book value of which is $50,000 or less in the aggregate,
any sale, lease or other disposition or transfer of any property of any of the Companies or Subsidiaries, except for nonexclusive licenses of Images in the ordinary course of business consistent with past practice for fair consideration; 

(h) loan by any of the Companies or Subsidiaries to any Person, or assumption of or guarantee by any of the Companies or Subsidiaries of any Debt or
other obligation of any Person; 
 (i) any increase or decrease in the level of Debt of the Companies or the Subsidiaries, on a consolidated
basis, or any new borrowings, loans or guarantees of Debt by any of the Companies or Subsidiaries, other than in the ordinary course of business consistent with past practice and in an aggregate amount not exceeding $50,000; 
 (j) waiver, release of or any commitment to settle any right, claim or defense of any of the Companies or Subsidiaries, except in the ordinary course of
business consistent with past practice and in an aggregate amount not exceeding $50,000; 
 (k) any dividend, distribution or other payment
in respect of its Equity Securities to Seller or any directors, officers, employees or Affiliates or shareholders of Seller by any of the Companies or Subsidiaries, in each case in any form, or any accrual in respect of the same; 
 (l) any fee, payment or reimbursement to Seller or any directors, officers, employees, Affiliates or shareholders of Seller by any of the Companies or
Subsidiaries, in each case in any form, or any accrual in respect of the same, except for fees, payments or reimbursements on an arm’s length basis that are consistent with past practice and in the ordinary course of business; 
 (m) any issuance, sale or delivery, redemption or purchase, by any of the Companies or Subsidiaries of any of their respective Equity Securities, or the
grant, issuance or entering into of any options, warrants, rights, agreements or commitments with respect to the issuance of any of their respective Equity Securities, or the amendment of any terms of any such Equity Securities or agreements;

 (n) imposition of any Lien (other than a Permitted Lien and any non-exclusive licenses or sublicenses relating to the Images entered into
in the ordinary course of business consistent with past practice) on any property of any of the Companies or Subsidiaries; 
  

 6 

 EXECUTION 
 (o) any change in the timing for payment, practices or procedures of any of the Companies or Subsidiaries with respect to the payment of trade payables or other obligations of any of the Companies or Subsidiaries or
the collection of accounts receivable and revenues (whether by way of acceleration of collections or otherwise); 
 (p) transaction of
business by any of the Companies or the Subsidiaries other than in the ordinary course consistent with past practice; 
 (q) failure by any
of the Companies or Subsidiaries to pay its creditors within the times agreed with such creditors and no Debt has become overdue for payment; 
 (r) prepayment by any Company or Subsidiary, or event giving rise to a liability to repay any indebtedness, with a value of $50,000 or more in the aggregate in advance of its stated maturity; 
 (s) acquisition or agreement to acquire by merging or consolidating with, or by purchasing the Equity Securities or a substantial portion of the assets
of, or by any other manner, any business or any corporation, partnership, association or other business organization or division thereof or otherwise acquire or agree to acquire any assets with a value in excess of $50,000 in the aggregate;

 (t) entering into any exclusive license or other license or arrangement with respect to Images or other Intellectual Property rights
outside the ordinary course of business consistent with past practice; 
 (u) disposition by any Company or Subsidiary or lapse of any rights
to the use of any Intellectual Property, or disposition of or disclosure to any Person any Intellectual Property not theretofore a matter of public knowledge, other than in the ordinary course of business; 
 (v) disposal or other transaction by Amana EU or Iconica which will or may have the effect of crystallising a liability to Tax which should have been
included in the provision for deferred Tax provided by Amana EU or Iconica to the extent allowed as contained in the Financial Statements if such a disposal or other Event had been planned or predicted at the date on which the Financial Statements
were drawn up; or 
 (w) other than expenses incurred up to and including fiscal year 2004, neither Amana EU nor Iconica have incurred any
expense in excess of GBP10,000 individually or GBP50,000 in the aggregate, which will not be deductible either in computing the taxable profits of, or in computing the Tax chargeable on Amana EU or Iconica , nor is there any obligation to make any
such payment in future. 
 3.9 Personal Property. 
 (a) All tangible personal property assets that are used for the ordinary operation of the business by any Company or Subsidiary during the 12 month period preceding the Closing are owned by the Companies or the
Subsidiaries, or subject to a right of use in favor of the Companies or the Subsidiaries, and all such assets are in the possession or under the control of the Companies or the Subsidiaries. The Companies or the Subsidiaries have legal and
beneficial title to all such assets which were included in the Interim Financial Statements as owned by the Companies or the Subsidiaries except as disposed of in the ordinary course of business consistent with past practice, and all such assets are
in the possession and control of the Companies or the Subsidiaries. No Person (such as Seller or any of its directors, officers, employees or Affiliates) other than Companies or the Subsidiaries can claim rightful 

  

 7 

 
EXECUTION 
 title to any of the tangible personal
property assets claimed as being owned on the Interim Financial Statements. 
 (b) Except as set forth in Section 3.9 of
the Disclosure Schedule, the Companies and the Subsidiaries have good and valid title to all items of personal property, whether tangible or intangible, owned by them, and a valid and enforceable right to use all tangible items of personal property
leased by or licensed to them, in each case, free and clear of all Liens, other than Permitted Liens. Section 3.9(b) of the Disclosure Schedule sets forth a complete and accurate list of each lease pursuant to which any of the
Companies or Subsidiaries leases any items of Equipment and under which the monthly rental payment exceeds $25,000 in the aggregate. None of the Companies or Subsidiaries or, to Seller’s Knowledge, any other party to any of the leases set forth
on Section 3.9(b) of the Disclosure Schedule is in breach thereof or default thereunder and, to Seller’s Knowledge, there does not exist under any such leases any event that, with the giving of notice or the lapse of time,
would constitute such a breach or default. 
 3.10 Real Property. 
 (a) None of the Companies nor any of the Subsidiaries owns real property or in the past has owned real property. 
 (b) Seller has delivered to Buyer copies of all leases and subleases in effect on the date hereof pursuant to which any of the Companies or Subsidiaries
lease, use or occupy real property (the “Real Property”) (as either a tenant, subtenant or otherwise) (the “Real Property Leases”). Each Real Property Lease is listed in Section 3.10
of the Company Disclosure Schedule. Except as set forth in Section 3.10 of the Disclosure Schedule, the Companies and Subsidiaries have valid leasehold interests in to the Real Property under each Real Property Lease. None of the
Companies or Subsidiaries or, to Seller’s Knowledge, any other party to the Real Property Leases is in breach thereof or default thereunder and there does not exist under the Real Property Leases any event that, with the giving of notice or the
lapse of time, would constitute such a breach or default. 
 (c) All documents relating to the lease of any of the Real Properties located in
the United Kingdom have where required been duly stamped and are in the possession or under the control of one of the Companies or the Subsidiaries. 
 (d) Where it is required, the leases with respect to any of the Real Properties located in the United Kingdom are registered at H. M. Land Registry. 
 (e) There are no expenses or anticipated expenses affecting the Real Properties which are of an unusual or onerous nature. 
 (f) The present use of the Real Properties is a permitted or lawful use. 
 (g) To Seller’s Knowledge, there are no notices, negotiations or proceedings pending (or anticipated) in relation to rent reviews in respect of any Real Property Lease. 
 (h) To Seller’s Knowledge, none of the Companies nor any of the Subsidiaries has received a notice that a lessor, grantor, licenser or optionor (as
applicable) under any Real Property Lease intends to cancel or terminate any of the same or to exercise or not to exercise any option thereunder. 
  

 8 

 EXECUTION 
 (i) To Seller’s Knowledge, none of the Companies nor any of the Subsidiaries has received any notice of any foreclosure, forcible entry, detainer, ejectment or other suit or action brought with respect to any
parcel of the Real Property by any Third Party which could, if successful, result in the loss of possessory rights to such Real Property by any Company, Subsidiary or any Person by or through which any Company or Subsidiary holds an interest in such
parcel of the Real Property. 
 (j) To Seller’s Knowledge, no claims have been made or are anticipated against the Companies or the
Subsidiaries in respect of repairs, dilapidations or any other monetary claim relating to the Real Properties. 
 3.11 Intellectual
Property (other than Images). The following representations relate to Intellectual Property other than the Intellectual Property rights specifically related to Images: 
 (a) Section 3.11(a) of the Disclosure Schedule lists: (i) all United States, international, and foreign: patents and patent
applications (including provisional applications); registered trademarks and service marks, applications to register trademarks and service marks, intent-to-use applications, or other registrations or applications related to trademarks and service
marks, and any domain name registrations; registered copyrights and applications for copyright registration; registered mask works and applications to register mask works; and any other Company Owned Intellectual Property that is or, since
December 31, 2003, has been the subject of a registration or application to register, relating directly to the ownership and/or enforcement of rights relating to such Company Owned Intellectual Property, issued by, filed with, or recorded by,
the applicable foreign, federal, state, government or other public legal authority at any time; (ii) all written licenses, sublicenses, and other agreements to which any of the Companies or Subsidiaries is a party and pursuant to which any
other Person is authorized to have access to, or use of, Company Owned Intellectual Property or to exercise any other right with regard thereto; (iii) all written agreements and licenses pursuant to which any of the Companies or Subsidiaries
have been granted a license to any Company Licensed Intellectual Property (other than license agreements for standard “shrink wrapped, off-the-shelf” third party Intellectual Property, or third party Intellectual Property that is publicly
available for license and/or use); and (iv) all written or unwritten agreements, licenses or sublicenses described in Section 3.11(a)(ii) or (a)(iii) that involve Seller (or any of its directors, officers,
employees or Affiliates). 
 (b) As used in this Section 3.11(b) “Intellectual Property” shall
mean (i) patents and patent applications and all reissues, divisions, renewals, provisionals, continuations and continuations-in-part thereof; (ii) trademarks, service marks, Internet domain names, trade dress, logos, trade names and other
source identifiers, including registrations and applications therefor, and the goodwill associated therewith; (iii) copyrights, including registrations and applications therefor; and (iv) confidential and proprietary information, including
trade secrets and know-how. “Company Owned Intellectual Property” shall mean all Intellectual Property owned in whole or in part by any of the Companies or Subsidiaries. “Company Licensed Intellectual
Property” shall mean all Intellectual Property owned by Third Parties or Seller and licensed to any of the Companies or Subsidiaries in each case as set forth in Section 3.11(a) of the Disclosure Schedule; all
references to “Company Intellectual Property” shall refer to both Company Owned Intellectual Property and Company Licensed Intellectual Property. The parties acknowledge and agree that neither “Company Owned Intellectual
Property” nor “Company Licensed Intellectual Property” shall include any Seller Trademarks or any Images. The Company Intellectual Property is all of the Intellectual Property used in the business during the 12 months prior to the
Closing Date. Except as set forth in Section 3.11(b) of the Disclosure Schedule, (i) the consummation of the transactions contemplated by this Agreement will not impair the ownership of or any right to use any Company Owned
Intellectual Property, (ii) all Company Owned Intellectual Property is owned by the Companies and Subsidiaries free and clear of all Liens, other than Permitted 

  

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 Liens, (iii) the Companies and
Subsidiaries have taken all reasonably necessary action to maintain and protect the Company Owned Intellectual Property, (iv) to Seller’s Knowledge, no claims have been asserted by any Person challenging the validity, effectiveness or
ownership of or use by any of the Companies or Subsidiaries of the Company Owned Intellectual Property, (v) to Seller’s Knowledge, no Third Party is engaging in any activity that infringes, misappropriates or otherwise violates the Company
Owned Intellectual Property, (vi) all of the Company Licensed Intellectual Property is the subject of valid and appropriate written licensing agreements under which the use of such Intellectual Property by the Companies and Subsidiaries is
permitted as of the Closing Date in the manner and to the extent as used by the Companies and Subsidiaries during the 12 months preceding the Closing Date. 
 (c) To Seller’s Knowledge, except as set forth in Section 3.11(c) of the Disclosure Schedule neither the (i) use, reproduction, modification, manufacturing, distribution, licensing,
sublicensing, sale, or any other exercise of rights in any Company Owned Intellectual Property by any of the Companies or Subsidiaries or use of the Seller Trademarks by any of the Companies or Subsidiaries, (ii) operation of any of the
Companies’ or Subsidiaries’ businesses as conducted as of the Effective Date or during the 12 months preceding the Closing Date, nor (iii) Exploitation of any of the Companies’ or Subsidiaries’ products or services by the
Companies or Subsidiaries as such Exploitation occurred as of the Effective Date or during the 12 months preceding the Closing Date, infringes in any respect any Intellectual Property rights, or any other intellectual property, proprietary, or
personal right of any Person, or constitutes unfair competition or unfair trade practice under the laws of the applicable jurisdiction. 
 (d) Neither Seller nor any of its directors, officers, employees or Affiliates (excepting the Companies and Subsidiaries) has any right, title or interest in or to any of the Company Intellectual Property (including all AIMS, NAIMS and ARMS
databases and the websites operated by the Companies). This provision shall not impact Seller’s incidental use of confidential and proprietary information known as a result of its ownership of the Companies and Subsidiaries, and shall
specifically exclude the Seller Trademarks, including the “Amana” name and trademark, which is owned by Seller. 
 3.12
Intellectual Property—Images. The following representations relate only to Intellectual Property related to Images, and no representation or warranty is made in this Section 3.11 with respect to any other Intellectual
Property: 
 (a) All Images that, as of the Closing Date and during the 12 months preceding the Closing Date, are or were used in the
business of any of the Companies or Subsidiaries are or were at all relevant times validly licensed to and/or represented by the Companies or Subsidiaries. 
 (b) None of the Companies or Subsidiaries has granted any exclusive licenses or exclusive sublicenses or other exclusive rights with respect to the Images, except in the ordinary course of business. 
 (c) To Seller’s Knowledge, as of the Closing Date and during the 12 months preceding the Closing Date, the rights of the Companies and
Subsidiaries in or to any Images and the Exploitation of any of the Images for the continued operation of the business of any of the Companies and Subsidiaries, as conducted as of the Effective Date and during the 12 months preceding the Closing
Date, have not misappropriated, or infringed upon, and do not misappropriate, or infringe upon any Intellectual Property rights of any third parties. 
 (d) No claims have at any time from December 31, 2003 until the Closing Date been made, asserted, or, to Seller’s Knowledge, threatened against any of the Companies or Subsidiaries, and no claims are
presently pending or, to Seller’s Knowledge, threatened, against any of 

  

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 the Companies or Subsidiaries and, to
Seller’s Knowledge, no claims are presently pending against any customers of the Companies or any of the Subsidiaries: (A) based upon or challenging or seeking to deny or restrict the Exploitation by any of the Companies or Subsidiaries of
any of the Images, (B) alleging that the Exploitation of the Images does or may conflict with, misappropriate or infringe upon any Intellectual Property rights of any third party, (C) that any of the Companies or Subsidiaries have failed
to comply with the terms and conditions of any Material Contracts governing Exploitation of any Images, or (D) that the electronic distribution in digital form of Images via the Internet or other electronic medium breaches any Material Contract
with any distribution agents of any of the Companies or Subsidiaries. 
 (e) Except as set forth on Section 3.12(e) of the
Disclosure Schedule, the consummation of the transactions contemplated by this Agreement and the Transaction Agreements will not cause the termination or impair or result in alteration of the rights of any of the Companies or Subsidiaries to Exploit
any of the Images, it being understood that many of the Contracts relating thereto are terminable at will. 
 (f) To Seller’s Knowledge,
no Person is engaging in any activity that infringes upon the Intellectual Property rights of any of the Companies or Subsidiaries in the Images. 
 (g) All Images in tangible form not wholly owned by any Company or Subsidiary but for which any of them is or was responsible under the terms of any legally binding agreement during the 12 months preceding the Closing (i) are in proper
storage on the premises of such Company or Subsidiary, (ii) have been returned to the owner, or (iii) are the subject of proper bailment arrangements. 
 (h) In respect of all Images owned or sub-licensed by a Company or Subsidiary, all photographer or contributor agreements and arrangements to which a Company or Subsidiary is party have been fully documented and, for
those which have been identified as having model and/or property releases in the various AIMS, NAIMS or ARMS databases or the Companies’ websites, are the subject of model and/or property releases as indicated. All such documents and releases
are in the possession of such Company or Subsidiary. No such Image, agreement or arrangement is the subject of any verbal understanding inconsistent with the documented position. 
 (i) Each Company and Subsidiary is readily able to verify, by reference to each of the Images which it owns or licences, the person to whom royalties (if
any) in respect of that Image should be paid and the appropriate amount of royalty to be paid in respect of that Image; and each Company’s and Subsidiary’s records include, irrespective of whether the Image is owned or licensed, the name
of the photographer and, in respect of Images which are licensed to a Company or Subsidiary, the date and parties to the licence agreement, and the royalty payment obligations of such Company or Subsidiary. 
 (j) Other than those contained in the various AIMS, NAIMS or ARMS databases, or the Companies’ websites, in the photographers and contributors
agreements with any of the Companies or Subsidiaries and in any ancillary documentation thereto (including model releases and image restrictions), or in the terms and conditions of the standard end user license agreements of the Companies and
Subsidiaries, there are no agreements or arrangements which restrict the Exploitation by the Companies or Subsidiaries of such Images by the Companies and Subsidiaries in the normal course of business. 
 3.13 Litigation. Except as set forth in Section 3.13 of the Disclosure Schedule, there are, and during the 12 months preceding
the Closing Date have been, no claims, actions, suits or proceedings pending, or, to Seller’s Knowledge, claims, actions, suits, proceedings or investigations 

  

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 threatened against or affecting any of the
Companies, Subsidiaries or their respective assets, at law or in equity, by or before any Governmental Authority, or by or on behalf of any Third Party, nor to Seller’s Knowledge, is there any reasonable basis for any of the foregoing. Except
as set forth in Section 3.13 of the Disclosure Schedule, to the Seller’s Knowledge, none of the Companies or Subsidiaries has received any notice that such Company or Subsidiary or any of their respective assets is subject to
any Order. 
 3.14 Taxes. Except as set forth in Section 3.14 of the Disclosure Schedule: 
 (a) Each of the Companies and the Subsidiaries has timely filed (after giving effect to applicable extensions) with the appropriate Governmental
Authorities all material Tax Returns required to be filed by or with respect to it, either separately or as part of an affiliated, combined, unitary, consolidated, fiscal unity or similar group of corporations, and such Tax Returns were correct and
complete in all material respects. Seller has provided or made available to Buyer true and complete copies of (i) relevant portions of audit reports, statements of deficiencies, closing or other agreements received by the Companies or
Subsidiaries or on behalf of the Companies or the Subsidiaries relating to Taxes, and (ii) all income or franchise Tax Returns for the Companies and the Subsidiaries for all periods ending on or after December 31, 2000; 
 (b) Each of the Companies and the Subsidiaries has timely paid all Taxes shown as due on any Tax Returns (or on subsequent assessments with respect
thereto) of such Company or Subsidiary; 
 (c) there are no Liens, other than Permitted Liens, with respect to Taxes upon any assets of any
of the Companies or the Subsidiaries. Each of the Companies and the Subsidiaries has withheld all Taxes required to be withheld in respect of wages, salaries and other payments to all employees, officers and directors and any Taxes required to be
withheld from any other person and has timely paid all such amounts withheld to the proper Governmental Authority; 
 (d) no audit by a
Governmental Authority of any material Tax Return of any of the Companies or the Subsidiaries is in process, pending or threatened (either in writing or verbally, formally or informally), and none of the Companies or the Subsidiaries is a party to
any Action for the assessment or collection of Taxes; 
 (e) none of the Companies nor the Subsidiaries has agreed to any extension of time
still in effect with respect to any Tax assessment or deficiency, and no waiver or extension of any statute of limitations is in effect with respect to Taxes or Tax Returns of any of the Companies or the Subsidiaries; 
 (f) none of the Companies nor the Subsidiaries conducts business in or derives income from any jurisdiction other than jurisdictions for which Tax
Returns have been filed by or with respect to it, and no claim has ever been made by any Governmental Authority in a jurisdiction where such Company or Subsidiary does not file Tax Returns that it is or may be subject to Tax by such jurisdiction;

 (g) none of the Companies nor the Subsidiaries will be required to take into account any income or gain in a taxable period beginning
after the Closing Date that is attributable to a transaction or event that occurred prior to the Closing Date (including by reason of any change in method of accounting, closing agreement entered into with any Governmental Authority, installment
sale, open transaction or prepaid amount); 
  

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 (h) each of the Companies and the Subsidiaries is in full compliance with all terms and conditions of any Tax exemption, Tax holiday or other Tax reduction agreement or order and the consummation of the transactions
contemplated by this Agreement will not have any adverse effect on the continued validity and effectiveness of any such Tax exemption, Tax holiday or other Tax reduction agreement or order; 
 (i) each of the Companies and the Subsidiaries is and has at all times been resident for Tax purposes in its place of incorporation or formation and is
not and has not at any time been treated as resident in any other jurisdiction for any Tax purpose (including any double taxation arrangement); 
 (j) none of the Companies nor any of the Subsidiaries (i) has been a United States real property holding corporation within the meaning of Section 897(c)(1)(A)(ii) of the Code (or any similar state, local or foreign laws);
(ii) has made any payment or payments, is obligated to make any payment or payments, or is a party to any Contract (or participating employer in any Plan) that, individually or collectively, could give rise to the payment of any amount (whether
in cash or property) as a result of the purchase and sale of the Shares that would not be deductible pursuant to Section 280G of the Code (or any similar state, local or foreign laws); or (iii) has been either a “distributing
corporation” or a “controlled corporation” in a distribution of stock intended to qualify for tax-free treatment under Section 355 of the Code, or any similar state, local or foreign laws); 
 (k) none of the Companies nor any of the Subsidiaries (i) is a party to or bound by any Tax allocation or sharing agreement; (ii) is or has
been a member of any affiliated group, within the meaning of Section 1504(a) of the Code (or any similar state, local or foreign laws, including any arrangement for group Tax relief within a jurisdiction or similar arrangement) that filed or
was required to file a consolidated, combined, unitary or similar Tax Return (other than the affiliated group, the common parent of which is Seller, or any of the Companies or the Subsidiaries); or (iii) has any liability for the Taxes of any
Person under Treasury Regulations Section 1.1502-6 (or any similar state, local or foreign laws, including any arrangement for group Tax relief within a jurisdiction or similar arrangement), as a transferee or successor, by contract, or
otherwise; 
 (l) Other than a withholding Tax liability arising from interest payments to Seller of GBP5,000, the Companies and Subsidiaries
(other than Amana US) (1) have deducted and properly accounted for all amounts which they have been obliged to deduct or otherwise account in respect of Tax (whether under the Pay as You Earn system or otherwise) to the appropriate Tax or other
authority (whether within or outside the United Kingdom) competent to impose or which otherwise seeks to determine liability for, and/or administers or collects Tax (“Taxation Authority”) which term shall include without limitation,
any person holding any power of sale over any property for the purpose of raising the amount of such Tax and any person having the benefit of the indemnity or right to recovery, (2) have complied fully with all reporting requirements relating
to all such amounts and, (3) have (where required by the applicable law) duly provided certificates of deduction of Tax to the recipients of payments from which deductions have been made; 
 (m) other than amounts arising in the normal course of filing of Tax Returns pertaining to prepayments of Tax by Amana EU and Iconica, neither the
Companies nor the Subsidiaries (other than Amana US) nor any director or officer of any of them has paid within the past seven years ending on the date of this Agreement or will become liable to pay any penalty, fine, surcharge or interest charged
by virtue of the provisions of the Taxes Management Act 1970 (“TMA”) or any other directive, statute, enactment, law or regulation, wheresoever enacted or issued, coming into force or entered into providing for or imposing any Tax
and shall include orders, regulations, instruments, by-laws or other subordinate legislation made under the relevant statute or statutory provision and any directive, statute, 

  

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 enactment, law, order, regulation or
provision which amends, extends, consolidates or replaces the same or which has been amended, extended, consolidated or replaced by the same (“Taxation Statute”); 
 (n) other than a closed UK Inland Revenue Tax enquiry relating to the 2001 fiscal year of Amana EU’s Tax affairs, neither the Companies nor any
Subsidiary (other than Amana US) have not, within the past 7 years, been the subject of any dispute, investigation, enquiry or discovery by or with any Tax Authority, and the Seller is not aware of any circumstance which made it likely that any of
their Tax affairs are likely to be the subject of any such dispute, investigation, enquiry or discovery; 
 (o) other than an expense
dispensation and an Inland Revenue Tax ruling which exempts the deduction of withholding taxes from Amana EU commissions of trade, the amount of Tax chargeable on the Companies and the Subsidiaries (other than Amana US) during any Tax period ending
on or within the six years before Closing has not depended on any concession, agreements or other formal or informal arrangement with any Taxation Authority, and no such concession, agreement or arrangement is likely to be withdrawn; 
 (p) other than those reliefs already claimed in the normal course of business, neither Amana EU nor Iconica are, or at the Closing will be entitled to:
(i) make any claim (including a supplementary claim), disclaimer or election for relief under any Taxation Statute or provision; and/or (ii) appeal against any assessment or determination relating to Tax; and/or (iii) apply for a
postponement of Tax; 
 (q) the book value shown or adopted for the purposes of the Financial Statements as the value of each of the assets
of the Companies and the Subsidiaries (other than Amana US) on the disposal of which a chargeable gain or allowable loss could arise does not exceed the amount which on a disposal of such asset at the date of this Agreement would be deductible under
section 38 of Taxation of Chargeable Gains Act 1992 (“TCGA”) (the book value of the assets has not been revalued upwards); 
 (r) no liability to Tax would arise on the disposal of any asset, other than trading stock, acquired since the date of the Financial Statements for a consideration equal to the consideration actually given for the acquisition (the
acquisition of the assets has not delayed Tax until their subsequent sale); 
 (s) neither the Companies nor the Subsidiaries (other than
Amana US) have disposed of any asset for a deferred or contingent consideration an amount of which is still outstanding; 
 (t) except for
those assets or liabilities already subject to computation for Tax purposes and disclosed at the date of the Financial Statements, if each of the Companies and Subsidiaries (other than Amana US) capital assets owned at the date of the Financial
Statements was disposed of for a consideration equal to the book value of that asset in, or adopted for the purpose of, the balance sheet comprised in the Financial Statements or, in the case of assets acquired since the date of the Financial
Statements, equal to the consideration given on acquisition, no balancing charge under the Capital Allowances Act 2001 or any other legislation relating to capital allowances would arise (the assets have been written down in the accounts at the same
rate as for Tax); 
 (u) neither the Companies nor the Subsidiaries (other than Amana US) have at any time entered into any transaction,
series of transactions, scheme or arrangement of which the main purpose, or one of the main purposes, was the avoidance of a liability to Tax nor have they at any time entered into a transaction the main purpose of which was a commercial purpose but
into which a step or a series of steps for which there was no bona fide commercial purpose have been inserted with a view to the avoidance of a liability to Tax; 
  

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 (v) Amana EU and Iconica are taxable persons and duly registered for the purposes of Value Added Tax (“VAT”) under the Value Added Tax Act 1994 (“VATA”), with quarterly prescribed
accounting periods, such registration not being subject to any conditions imposed by or agreed with HM Customs & Excise and neither Amana EU nor Iconica are (or are there any circumstances by virtue of which any of them may become) under a
duty to make monthly payments on account under the Value Added Tax (Payments on Account) Order 1993. Amana EU and Iconica have never formed part of any other group of companies for the purposes of Section 43 VATA nor a group of companies for
any other Tax purpose; 
 (w) Amana EU does hold an interest in buildings of land in respect of which neither they nor any other person has
made an election to waive the exemption to VAT in accordance with the provisions of paragraph 2 of Schedule 10 VATA. Amana EU is contractually committed to receive supplies in respect of which such an election has not been made; 
 (x) All documents which are liable to be stamped and which are in the possession or under the control of the Companies or the Subsidiaries (other than
Amana US) or to which the Companies or the Subsidiaries (other than Amana US) is a party have been properly stamped and the appropriate stamp duty has been paid and there is no liability for any penalty in respect of such duty and no such documents
which are outside the United Kingdom would attract stamp duty if they were brought into the United Kingdom. No circumstances exist or might exist which would require the Companies or the Subsidiaries (other than Amana US) to re-present for stamping
any document which has already been stamped; 
 (y) in the last five years neither the Companies nor the Subsidiaries (other than Amana US)
have made any claim for relief from stamp duty under section 42 Finance Act 1930, section 151 Finance Act 1995 or section 75, 76 or 77 Finance Act 1986, nor do they hold an estate or interest in land that is derived from an estate or interest in
respect of which such a claim for relief was made; 
 (z) neither the Companies nor the Subsidiaries (other than Amana US) have had
transferred to it or agreed to acquire any chargeable securities (as defined in section 99 Finance Act 1986) in circumstances which have given rise to or which may give rise to a liability for stamp duty reserve Tax nor are there any other
circumstances in which they may have a liability for stamp duty reserve Tax; and 
 (aa) Stamp duty land Tax has been paid in full in respect
of all estates or interests in land acquired on or after 1 December 2003 by the Companies or the Subsidiaries (other than Amana US) and there are no contingent liabilities or requirements to submit a further land transaction and no arrangements
capable of giving rise to a further land transaction and no arrangements capable of giving rise to a further charge to stamp duty land Tax. 
 3.15 Contracts and Commitments. Section 3.15 of the Disclosure Schedule sets forth a list of all of the Contracts to which any of the Companies or Subsidiaries are a party or by which any of the Companies,
Subsidiaries or their respective assets are bound and which fall into one of the following categories (each such contract, a “Material Contract”): 
 (a) any Contracts containing any covenant limiting the ability of any of the Companies or Subsidiaries to engage in any line of business or to compete with any Person; 
 (b) any agreements under which any of the Companies or Subsidiaries has borrowed or loaned money, or any note, bond, indenture, mortgage, installment
obligation or other evidence of indebtedness for borrowed or loaned money or any guarantee of such indebtedness; 
  

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 (c) powers of attorney from any of the Companies or Subsidiaries; 
 (d) any Contract relating to expenditures
with respect to any of the Companies or Subsidiaries and involving committed future payments which exceed $25,000 in any 12 month period, excepting photographer or contributor agreements and contracts of employment; 
 (e) any Contract relating to the acquisition or disposition of assets (other than in the ordinary course of business consistent with past practice) or any
Equity Securities of any business enterprise; 
 (f) any Contract with respect to Company Intellectual Property and which is listed on
Section 3.11(a) of the Disclosure Schedule; 
 (g) all agency, distribution and other such Contracts pursuant to which any
of the Companies or Subsidiaries supply Images to third parties or otherwise authorize third parties to supply or distribute Images, as attached to Section 3.15(g) of the Disclosure Schedule; 
 (h) all Contracts that provide for the payment of benefits or the acceleration of benefits to personnel as a result of the consummation of the
transactions contemplated by this Agreement; 
 (i) all agreements between Seller (including its directors, officers, employees and Affiliates
(excepting the Companies and Subsidiaries)), on the one hand, and any of the Companies and/or Subsidiaries, on the other hand; 
 (j) all
photographer agreements with regard to royalty payments and financial reporting (these agreements will not be listed on Section 3.15 of the Disclosure Schedule, but are included within the definition of Material Contract), and
agreements for (i) the twenty photographers contracted to Amana EU whose Images generated the greatest amount of revenue for the Companies and Subsidiaries in 2004, (ii) the twenty photographers contracted to Amana US whose Images
generated the greatest amount of revenue for the Companies and Subsidiaries in 2004, and (iii) the ten photographers contracted to Iconica whose Images generated the greatest amount of revenue for Iconica in 2004; 
 (k) any other agreements entered into or committed to by any Company or Subsidiary which contain provisions providing for: photographer advances; minimum
royalty obligations; special ongoing pricing arrangements or commitments with customers or licensees; agreements that Images appear in a particular order in website search order results; or commitments to a minimum number of search slots for an
Image provider or photographer. 
 None of the Companies, Subsidiaries or, to Seller’s Knowledge, any other party to any such Material Contract is in
breach thereof or default thereunder and, to Seller’s Knowledge, there does not exist under any such Material Contract any event which, with the giving of notice or the lapse of time, would constitute such a breach or default. No notice has
been received that there will be a loss of, alteration or contract cancellation of, any Material Contract. 
 3.16 Compliance with
Laws. To the Seller’s Knowledge, the Companies and Subsidiaries are in compliance in all respects with all Applicable Laws and all Orders of, and agreements with, any Governmental Authority applicable to such Companies and Subsidiaries.
Neither the Companies nor any of the Subsidiaries have received (i) any notice, claim or assertion, formal or informal, of any such violation by any of the Companies or the Subsidiaries from any Person or (ii) any request from any
Governmental Authority that any of the Companies or Subsidiaries modify or terminate any of its 

  

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 operations or modify or dispose of any of its Properties. To the Seller’s Knowledge, the Companies and Subsidiaries have all permits, certificates, licenses, approvals and other authorizations required under Applicable Laws or
necessary in connection with the conduct of their respective businesses. 
 3.17 Labor Matters. 
 (a) Except as set forth in Section 3.17 of the Disclosure Schedule, there are, and during the 12 months prior to the Closing Date have
been, no claims, disputes or controversies pending or, to Seller’s Knowledge, threatened involving any employee or group of employees of any of the Companies or Subsidiaries. During the 12 months prior to the Closing Date, none of the Companies
nor any of the Subsidiaries has suffered or sustained any work stoppage and no such work stoppage is threatened. 
 (b) The Companies and
Subsidiaries have complied in all respects, and are presently in compliance in all respects, with all Applicable Laws related to the employment of its employees, including provisions related to wages, hours, leaves of absence, equal opportunity,
occupational health and safety, workers’ compensation, severance, employee handbooks or manuals, collective bargaining and the payment and withholding of social security and other Taxes. Neither the Companies nor the Subsidiaries has any
liability under any Applicable Law related to employment and attributable to an event occurring or a state of facts existing prior to the Closing Date, except as otherwise set forth in Section 3.17 of the Disclosure Schedule or
reflected on the Financial Statements. 
 (c) There is, and in the 12 months prior to the Closing Date has been, no formal labor union or
other formal employee representative body installed at any of the Companies or Subsidiaries. Neither the Companies nor the Subsidiaries have or since 31 December 2003 has had any collective bargaining agreements with any of its employees or any
employee representative body. There is, and in the 12 months prior to the Closing Date have been, no labor union or other collective organizing or election activity pending or, to Seller’s Knowledge, threatened with respect to any of the
Companies or the Subsidiaries. 
 (d) Those persons named as such in Section 3.17(d) of the Disclosure Schedule are the
only Directors of the Companies and the Subsidiaries. 
 (e) Seller has provided to Buyer a list of all the employees employed on and/or since
May 9, 2005, by the Companies and the Subsidiaries which shows on an anonymous basis in relation to each Employee his age, the hire date, period of continuous employment, date of termination (as applicable), and current salary or wages and
which is true, complete and accurate in all respects. 
 (f) True copies of the standard employment agreements of the Companies and
Subsidiaries, and of the U.S. and U.K. staff handbooks have been provided to Buyer. All non-standard or unique employment agreements have been provided to Buyer and are listed in Section 3.17(f) of the Disclosure Schedule.

 (g) There are no outstanding loans made by any Company or Subsidiary to any director, officer or employee or former director, officer or
employee. 
 (h) No Company or Subsidiary has had or has in existence or participates in and is proposing to introduce or participate in any
share incentive scheme, share option scheme or profit-sharing scheme for all or any part of their directors, officers or employees. 
  

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 (i) No Company or Subsidiary has been the transferee in any transfer of employment to which the U.K. Transfer of Undertakings (Protection of Employment) Regulations 1981 apply. 
 (j) Except for possible claims by those persons identified as being independent contractors in Section 3.17(j) of the Disclosure
Schedule, no independent contractor (an independent contractor for this purpose being any person who, whether personally or through a company owned by them or which they control, provides services to any Company or Subsidiary) has any rights as or
in any way holds the status of an employee under a contract of service, and each Company and Subsidiary has complied with its obligations under Applicable Law in relation to and in respect of each current and former independent contractor, including
any obligation to make any payment to any such independent contractor. 
 3.18 Environmental Matters. Except as set forth in
Section 3.18 of the Disclosure Schedule, (a) none of the Companies nor any of the Subsidiaries has, as of the Effective Date, received any notice alleging any violation of, or any liability relating to, any Applicable Law or
Order, related to the protection of human health or the environment, or the use, treatment, storage, disposal, release or transportation of Hazardous Waste, including, the Comprehensive Environmental Response, Compensation and Liability Act, the
Emergency Planning and Community Right-To-Know Act, the Solid Waste Disposal Act, the Resource Conservation and Recovery Act, the Clean Air Act, the Water Pollution Control Act, the Toxic Substances Control Act, the Hazardous Materials
Transportation Act, and the Occupational Safety and Health Act, each as amended and supplemented, and any regulations promulgated pursuant to such laws, and any analogous national, state or local statutes or regulations in any relevant jurisdiction
(“Environmental Laws”), which violation has not been resolved, and as of the Effective Date, to the Seller’s Knowledge, no such notice is threatened, (b) the Companies and the Subsidiaries are and have been at all
times in the past five years in compliance with all applicable Environmental Laws, (c) the Companies and Subsidiaries have obtained and are and have been at all times in the past five years in compliance with all governmental environmental
permits, registrations and authorizations required under Environment Laws for the operation of the businesses of such Companies and Subsidiaries and (d) none of the Companies nor any of the Subsidiaries have entered into, agreed to, or is
subject to any judgment, decree or Order in any relevant jurisdiction under any Environmental Laws. 
 3.19 Employee Plans.

 (a) Section 3.19 of the Disclosure Schedule lists each employee benefit plan (including but not limited to incentive,
bonus, cafeteria, medical, dental, vision, life insurance, dependent care assistance, tuition reimbursement, disability, sick pay, holiday, change of control, leave, vacation, severance, pension, profit sharing, retirement, stock option, stock
purchase, restricted stock, phantom stock or stock appreciation or other benefit plans but excluding any required plan under mandatory statutory law), whether subject to the laws of the United States or other Applicable Law, (i) covering
active, former or retired employees, directors or independent contractors of any Company or Subsidiary or any dependents thereof, (ii) sponsored, maintained or contributed to by any Company or Subsidiary, or (iii) with respect to which any
Company or Subsidiary has (or could reasonably be expected to have) any obligation or liability (each a “ Employee Plan”). Excepting the regular employer contributions to the Amana US 401(k) plan, no Company or Subsidiary has
any agreement, arrangement or obligation to create, enter into or contribute to any additional Employee Plan, or to modify or amend any existing Employee Plan. No Company or Subsidiary is under any obligation to provide any benefits or make any
payments except as required by and specified in the Employee Plan. 
  

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 (b) Seller has provided or caused to be provided to Buyer a copy of each Employee Plan, and where applicable, (i) any related trust agreement, annuity or insurance contract, (ii) the most recent annual
report (including Form 5500) relating to such Employee Plan, and (iii) any other related contracts or agreements (and any amendments thereto). 
 (c) With respect to each Employee Plan: (i) such Employee Plan has been administered in all material respects with its terms and with the requirements prescribed by any Applicable Laws, including the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), and the Code; (ii) no material “prohibited transaction” as defined in Section 406 of ERISA or Section 4975 of the Code has occurred with respect to such Employee
Plan for which an exemption is not available; (iii) to Seller’s Knowledge, all “fiduciaries,” as defined in ERISA Section 3(21), with respect to the Employees Plans, have complied with the requirements of ERISA
Section 404; and (iv) except pursuant to Section 5.17, no steps have been taken to wind-up or commence the winding-up of any of the Employee Plans. 
 (d) Except as provided on Section 3.19(d) of the Disclosure Schedule, to the extent applicable, a favorable determination letter, opinion or notification has been issued by any Governmental
Authority (including the Internal Revenue Service) with respect to each Employee Plan (including regarding those intended to be qualified under Section 401(a) of the Code, as amended by that legislation commonly referred to as “GUST”)
and, to Seller’s Knowledge, no condition exists that could reasonably be expected to result in the revocation of any such letter, opinion or notification. 
 (e) No Employee Plan is (i) covered by Title IV of ERISA or Section 412 of the Code, (ii) a “multiemployer plan,” as defined in Section 3(37) or 4001(a)(3) of ERISA, (iii) a
multiple employer plan within the meaning of Section 4063 or 4064 of ERISA or Section 413 of the Code, or (iv) a “multiple employer welfare arrangement,” as defined in Section 3(40) of ERISA. 
 (f) There are no pending or anticipated (by Seller or any of the Companies or Subsidiaries) claims or governmental investigations or audits against or
otherwise involving any of the Employee Plans and no suit, Action or other litigation (excluding claims for benefits incurred in the ordinary course) has been brought against or with respect to any Employee Plan that could reasonably be expected to
result in a liability to any of Seller, the Companies or Subsidiaries. 
 (g) All contributions, reserves or premium payments to any Employee
Plan have been made or provided for on the financial books and records of the Companies and Subsidiaries, to the extent required by the Employee Plans, Applicable Law or applicable GAAP. All Taxes that are required by law to be withheld from or
assessed against benefits derived under the Employee Plans have been properly withheld, if applicable, and have been remitted to the proper depository. All actuarial, consultancy, legal and other fees, charges or expenses in respect of each Employee
Plan have been paid and no services have been rendered in respect of any Employee Plan in respect of which an account or other invoice has not been rendered. 
 (i) Without limiting Sections 3.19(a) through 3.19(g), each Employee Plan mandated by a government other than the United States or subject to the laws of a jurisdiction outside of the
United States (a “Foreign Company Plan”), has been administered and is in material compliance with its terms and Applicable Laws, rules and regulation, and if intended to qualify for special Tax treatment, meets and
has complied at all times with all requirements for such treatment and has obtained all necessary approvals of all Governmental Authorities. All contributions required to be made under the terms of any Foreign Company Plan or Applicable Law as of
the Closing Date have been made or will be timely made on or prior to the Closing Date. With respect to any unfunded retirement plan which is a Foreign Company Plan for which applicable GAAP or Applicable Law 

  

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 requires that reserves be recorded on a statement of financial position, reserves have been recorded on the Financial Statements in a manner which is consistent with applicable GAAP and Applicable Law. With respect to funded pension or
retirement plans which are Foreign Company Plans, such plans have been funded in accordance with their terms, applicable GAAP and Applicable Law. There are no actions, suits or claims (other than routine claims for benefits) pending or threatened
with respect to any Foreign Company Plan. Seller has provided to Buyer copies, summaries or written descriptions of each Foreign Company Plan. 
 3.20 Insurance. Seller has delivered to Buyer true copies of all policies of liability, theft, fire, title, workers’ compensation, property, errors and omissions and other forms of insurance and surety bonds insuring any of the
Companies and Subsidiaries and their directors, officers, employees, properties, assets and businesses. All such insurance policies are in full force and effect and all premiums have been timely paid by the Companies and Subsidiaries. None of the
Companies or Subsidiaries has failed to give any notice or to present any claim under any such policy or binder in a due or timely fashion. There have not been any claims under any such policies against any insurers in relation to the operation of
any of the Companies or Subsidiaries from December 31, 2003 until the date of this Agreement. 
 3.21 Certain Relationships and
Interests. Except as set forth in Section 3.21 of the Disclosure Schedule, none of the Companies or Subsidiaries presently has, and since December 31, 2003, none of the Companies or Subsidiaries has had, any
Contract with, any outstanding loans to or from, any outstanding liabilities to, or any sharing arrangements (whether for compensation or otherwise) with, any officer, director, employee, stockholder, member or Affiliate (other than the Companies
and Subsidiaries themselves) of Seller, the Companies or any of the Subsidiaries or any relative of any such Person or any Person in which any such individual is an officer, director or partner or has a financial interest, direct or indirect. Except
Seller’s ownership interest in the Companies and the Subsidiaries and except as set forth in Section 3.21 of the Disclosure Schedule, neither Seller nor any officer, director, employee, stockholder, member or Affiliate (other
than the Companies and Subsidiaries themselves) of Seller, the Companies or Subsidiaries, nor any relative of any of such individual, owns or has any direct or indirect interest in any property owned or used by or leased to the Companies or the
Subsidiaries or any Intellectual Property right licensed to or by or used by the Company or any of its Subsidiaries. Except Seller’s ownership interest in the Companies and the Subsidiaries and except as set forth in
Section 3.21 of the Disclosure Schedule, to the Seller’s Knowledge, neither Seller nor any officer, director, stockholder, member or Affiliate (other than the Companies and Subsidiaries themselves) of Seller, the Companies or
Subsidiaries, nor any relative of any such individual, owns or has any direct or indirect interest in any business which is a competitor, supplier or customer of the Companies or the Subsidiaries or in any Person with whom the Company or any of the
Subsidiaries is doing business in any way (other than holdings solely for passive investment purposes of securities of publicly held and traded entities constituting less than 5% of the equity of any such entity). 
 3.22 Books and Records. 
 (a) Taking
into account the size and complexity of the operations of each of the Companies and Subsidiaries, each Company and Subsidiary maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions
are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
applicable to such entity and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for 

  

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 assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 
 (b) The Companies and the Subsidiaries have in their power or possession all records required to determine their liability to Tax, including the Tax consequence which would arise on any disposal or realization of any asset in the future.

 3.23 Insolvency. 
 (a)
No receiver or administrative receiver has ever been appointed of the whole or any part of the assets or undertaking of Seller, any Company or any Subsidiary. 
 (b) No petition has been presented during the 12 months preceding the Closing and no order has ever been made and no resolution has ever been passed for the winding-up of Seller, any Company or any Subsidiary, or for
the appointment of a provisional liquidator to Seller, any Company or any Subsidiary. 
 (c) Neither Seller nor any Company or any Subsidiary
is insolvent or unable to pay its debts as and when they fall due (within the meaning of any Applicable Law). 
 (d) Neither Seller nor any
Company or any Subsidiary has stopped or suspended payment of its Debts, except in cases of a bona fide dispute regarding the Debt. 
 (e) No
unsatisfied judgment, order or award is outstanding against Seller, any Company or any Subsidiary. 
 3.24 Brokers’ or Finders’
Fees. Neither Seller nor any Company or Subsidiary has authorized any person to act as broker, finder or in any other similar capacity in connection with the transactions contemplated by this Agreement, except for Mizuho Securities and
Bridgeford Group, whose fee will be the responsibility of Seller. 
 3.25 Exclusivity of Representations. The representations and
warranties made by Seller in this Agreement are the exclusive representations and warranties made by Seller. Seller hereby disclaims any other express or implied representations or warranties, including without limitation, regarding the pro forma
financial information, financial projections or other forward-looking statements of any of the Companies, Subsidiaries or Seller. 
 3.26
Separate and Independent. Each of the warranties, representations and undertakings set out in this Agreement shall be separate and independent and, save as expressly provided, shall not be limited by reference to any other clause or anything
in this Agreement or the schedules hereto. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF BUYER 
 Buyer represents and warrants to Seller as follows:

 4.1 Organization; Authority. Buyer is a corporation duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, and has all requisite power and authority to enter into this Agreement and the Transaction Agreements to which it is a party and any other agreements contemplated by this Agreement to be entered into by Buyer at
Closing, and to 
  

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 consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and each such Transaction Agreement, and the consummation of the transactions contemplated hereby and thereby, have been duly
authorized by all necessary action on the part of Buyer. This Agreement has been, and at the Closing each such Transaction Agreement will be, duly executed and delivered by Buyer. This Agreement constitutes a legal, valid and binding obligation of
Buyer, enforceable against Buyer in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally and, as to enforceability, to general
principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity. 
 4.2 No Buyer Conflict or
Default. Neither the execution and delivery of this Agreement nor the consummation by Buyer of any of the transactions contemplated herein will result in a violation of, or a default under, or conflict with, or require any consent, approval or
notice under, any contract, trust, commitment, agreement, obligation, understanding, arrangement or restriction of any kind to which Buyer is a party or by which Buyer is bound. Consummation by Buyer of the transactions contemplated herein will not
violate, or require any consent, approval or notice under, any provision of any judgment, order, decree, statute, law, rule or regulation applicable to Buyer, except (a) any filing required under U.S., U.K., Italian, French, German or European
merger or equivalent laws or regulations, or (b) as may be necessary as a result of any facts or circumstances relating solely to Seller or its Affiliates. 
 4.3 Litigation. Except as set forth on Schedule 4.3, there are no claims, actions, suits, investigations or proceedings pending or, to the knowledge of Buyer, threatened against or affecting
Buyer, at law or in equity, by or before any Governmental Authority, or by or on behalf of any third party, which, if adversely determined, would materially impair Buyer’s ability to consummate the transactions contemplated hereby, and there
are no outstanding Orders of any Governmental Authority, affecting Buyer or its assets, at law or in equity, which would materially impair Buyer’s ability to consummate the transactions contemplated hereby. 
 4.4 Funding. Buyer has the necessary funding to meet all of its obligations under this Agreement and the Transaction Agreements, including the
payment of the Purchase Price, and all of its fees and expenses in order to consummate the transactions contemplated by this Agreement. 
 4.5 Investigation. Buyer acknowledges and agrees that, except in the case of fraud or willful misconduct, it will not assert any claim against any of the respective officers, directors, employees, shareholders, affiliates or other
representatives (or any agent of or advisor to any thereof) of Seller, the Companies or Subsidiaries, or hold any of such persons liable, for any inaccuracies, misstatements or omissions with respect to information furnished by Seller, such persons
concerning Seller, or any of the Companies or Subsidiaries in connection with the transactions contemplated by this Agreement. Buyer acknowledges and agrees that none of the respective officers, directors, employees, shareholders, affiliates or
other representatives (or any agent of or advisor to any thereof) of any of the Companies or Subsidiaries have made, or are making, any representations or warranties in their respective individual capacities with respect to any Company, Subsidiary,
this Agreement, any other agreements or certificates delivered hereunder or any of the transactions contemplated hereby. 
 4.6 No
Reliance. Buyer and its representatives have inspected and conducted such reasonable review and analysis (financial and otherwise) of the Companies and Subsidiaries as desired by Buyer. The consummation of the sale and purchase of the Shares by
Buyer is not done in reliance upon any warranty or representation by, or information from, the Seller or any of the Companies or the Subsidiaries, of any sort, oral or written, except the warranties and representations specifically set forth in this
Agreement (including the Disclosure Schedule or the Transaction Agreements) and in any 
  

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 certificates required to be delivered to Buyer by the Seller hereunder. Such consummation is instead done entirely on the basis of Buyer’s own investigation, analysis, judgment and assessment of the present and potential value and
earning power of the Companies and the Subsidiaries as well as those representations and warranties by the Seller specifically set forth in this Agreement (including the Disclosure Schedule hereto) and in any certificates required to be delivered to
Buyer by the Seller hereunder. As of the Effective Date, Buyer’s Acquisition Team does not have any actual knowledge of the existence or nonexistence or occurrence or nonoccurrence of any event, condition or circumstance the existence,
nonexistence, occurrence or nonoccurrence of which would cause any representation or warranty of the Seller contained in this Agreement to be untrue or inaccurate in any material respect. 
 ARTICLE V 
 COVENANTS OF THE PARTIES 
 5.1 Conduct of the Company’s Business. Except as expressly provided for by this Agreement, during the period from the Effective Date to the
Closing Date, Seller will cause each of the Companies and the Subsidiaries to, and each of the Companies and the Subsidiaries will conduct their business and operations solely in the ordinary course of business consistent with past practice. Without
limiting the generality of the foregoing, except as expressly provided by this Agreement, during the period from the date of this Agreement to the Closing Date, without the prior written consent of Buyer, Seller will cause each Company and
Subsidiary not to, and each of the Companies and Subsidiaries will not: 
 (a) make any capital expenditure exceeding $50,000 in the
aggregate; 
 (b) enter into or assume any Material Contract except in the ordinary course of business consistent with past practice, and
amend or terminate any Material Contract to which any of the Companies or Subsidiaries is a party or by which any of the Companies or Subsidiaries or any of the property of any of the Companies or Subsidiaries is or may be bound; 
 (c) change any of its accounting methods or practices (including any change in depreciation or amortization policies or rates); 
 (d) make any election or change any election concerning Taxes, adopt or change any Tax accounting method or practice, or change any Tax accounting period;

 (e) make any revaluation any of its assets for book or Tax purposes or for any fluctuations in exchange rates with respect to foreign
currencies; 
 (f) increase the salary or other compensation or benefits of, or pay or agree to pay any bonus or other additional salary or
other compensation or benefit to (including severance or termination pay), present or former directors, officers, employees, consultants or contractors (including photographers), except increases in compensation granted as part of the annual staff
reviews consistent with past practices; 
 (g) except for any sale or disposal of used Equipment, the net book value of which is $50,000 or
less in the aggregate, sell, lease or otherwise dispose or transfer any property, except for nonexclusive licenses of Images in the ordinary course of business consistent with past practice for fair consideration; 
  

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 (h) create, incur, satisfy, extinguish, assume or guarantee any Debt, or make or take out any loans to or from any Person, or guaranty any Debt or other obligations of any Person, other than in the ordinary course of
business and consistent with past practice; 
 (i) waive or release any right, claim or defense except in the ordinary course of business
consistent with past practice and in an aggregate amount not exceeding $50,000; 
 (j) make any dividend, distribution or other payment in
respect of its Equity Securities to Seller or any directors, officers, employees, Affiliates or shareholders of Seller, in each case in any form, or any accrual in respect of the same, 
 (k) make any other fee, payment or reimbursement to Seller or any director, officer, employee, Affiliate or shareholder of Seller by any of the Companies
or Subsidiaries, in each case in any form, or any accrual in respect of the same, except for fees, payments or reimbursements on an arm’s length basis that are consistent with past practice and in the ordinary course of business; 
 (l) issue, sell or deliver, redeem or purchase, any of its Equity Securities, or grant, issue or enter into any options, warrants, rights, agreements or
commitments with respect to the issuance of its Equity Securities, or amend any terms of any such Equity Securities or agreements; 
 (m)
allow the imposition of any Lien (other than a Permitted Lien and any non-exclusive licenses or sublicenses relating to the Images entered into in the ordinary course of business consistent with past practice) on any property of any of the Companies
or Subsidiaries; 
 (n) change the timing for payment, practices or procedures with respect to the payment of trade payables or other
obligations of any of the Companies or Subsidiaries or the collection of accounts receivable and revenues (whether by way of acceleration of collections or otherwise); 
 (o) transact business other than in the ordinary course consistent with past practice; 
 (p) fail to pay its
creditors within the times agreed with such creditors or allow any Debt to become overdue for payment; 
 (q) prepay, or allow any event to
occur that would give rise to a liability to repay, any indebtedness with a value of $50,000 or more in the aggregate in advance of its stated maturity; 
 (r) acquire or agree to acquire by merging or consolidating with, or by purchasing the Equity Securities or a substantial portion of the assets of, or by any other manner, any business or any corporation, partnership,
association or other business organization or division thereof or otherwise acquire or agree to acquire any assets with a value in excess of $50,000 in the aggregate; 
 (s) enter into any exclusive license or other license or arrangement with respect to Images or other Intellectual Property rights outside the ordinary course of business consistent with past practice; 
 (t) dispose or allow to lapse any rights to the use of any Intellectual Property, or dispose or disclose to any Person any Intellectual Property not
theretofore a matter of public knowledge, other than in the ordinary course of business; or 
 (u) agree, whether in writing or otherwise, to
do any of the foregoing. 
  

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 5.2 Reasonable Commercial Efforts. Subject to the terms and conditions of this Agreement, each of the parties hereto will use its reasonable commercial efforts to take, or cause to be taken, all actions, and to
do, or cause to be done, all things necessary, proper or advisable under Applicable Laws and regulations to consummate the transactions contemplated by this Agreement at the earliest practicable date. Whenever this Agreement requires the Companies
or Subsidiaries to take or desist from taking action during periods prior to Closing, Seller agrees to cause the Companies and Subsidiaries to act or desist from such action, as applicable. 
 5.3 Consents. Without limiting the generality of Section 5.2, each of the parties hereto will use its reasonable commercial
efforts to obtain all licenses, permits, authorizations, consents and approvals of all third parties and Governmental Authorities necessary in connection with the consummation of the transactions contemplated by this Agreement prior to the Closing.
Each of the parties hereto will make or cause to be made all filings and submissions under laws and regulations applicable to it as may be required for the consummation of the transactions contemplated by this Agreement. The parties hereto will
coordinate and cooperate with each other in exchanging such information and assistance as any of the parties hereto may reasonably request in connection with the foregoing. 
 5.4 Public Announcements; Confidentiality. The parties hereto shall not issue (and shall cause their respective directors, officers, employees,
representatives and Affiliates not to issue) any report, statement or press release or otherwise make any public statement with respect to this Agreement and the transactions contemplated hereby without prior consultation with and approval of the
other party, except as may be required by Applicable Law, including, Japanese or U.S. securities regulations and laws, in which case such party shall endeavor to advise the other parties and discuss the contents of the disclosure a reasonable period
before issuing any such report, statement or press release. Furthermore, the parties hereto shall keep confidential and not disclose, and shall cause their respective Affiliates and directors, officers, employees and representatives of such party
and their respective Affiliates to keep confidential and not disclose, any of the terms and conditions of this Agreement or any Transaction Agreement to any Third Party or any information in whatever form, tangible or intangible, that is not
generally known to the public and that was provided to Seller by Buyer or to Buyer by Seller, as the case may be, in connection with negotiations, dealings and other discussions between the parties hereto relating to this Agreement or any
Transaction Agreement, in each case except as and to the extent that any such party shall be so obligated by Applicable Law, including, Japanese or U.S. securities regulations and laws, in which case the other party shall be so advised and the
parties shall use their reasonable commercial efforts to cause a mutually agreeable release or announcement to be issued and except that the parties may disclose the terms and conditions of this Agreement or any Transaction Agreement to their
respective accountants, auditors, lawyers, other advisors or actual or prospective parties to a business combination or loan or investment, but shall instruct the foregoing parties (other than counsel or auditors who are bound by an ethical
obligation of confidentiality) to keep confidential and not disclose the terms and conditions of this Agreement or the Transaction Documents; provided, however, that Buyer’s non-disclosure obligation is limited to information received from
Seller related only to Seller. Buyer shall not be prohibited after the Closing from disclosing any information provided by Seller related to any Company or Subsidiary. 
 5.5 Prompt Notice. Seller shall give prompt written notice to Buyer, and Buyer shall give prompt written notice to Seller, of (a) the occurrence or nonoccurrence of any event which would be likely to
(i) cause any representation or warranty of either Seller or Buyer contained in this Agreement to be untrue or inaccurate (provided, however, that a party is only required to provide such notice with respect to the other party’s
representations and warranties to the extent such party has actual knowledge that the occurrence or nonoccurrence of such event would be likely to cause the other party’s representation or warranty to be untrue or inaccurate) or
(ii) result in the failure to satisfy a 

  

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 closing condition in ARTICLE VI; (b) any failure by Seller or Buyer, respectively, to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it; and (c) any written
communication from any Person alleging that the consent of such Person may be required in connection with the transactions contemplated by this Agreement; provided, however, that the delivery of any notice pursuant to this
Section 5.5 shall not limit or otherwise affect the remedies available hereunder to the party receiving such notice. 
 5.6 Access. Buyer and its representatives shall be given reasonable access during business hours after reasonable notice to the books, records, facilities and senior management and financial personnel of the Companies and the
Subsidiaries and such Persons having to do with the business or Real Properties of the Companies or the Subsidiaries, as Buyer may reasonably request and will be permitted to make copies and retain other documentation with respect to the Companies
and the Subsidiaries and their business operations, financial position, prospects and Real Properties, provided, however, that if the transactions contemplated hereby and in the Transaction Agreements are not consummated, Buyer shall
promptly return all such documentation to Seller. 
 5.7 Exclusivity; Acquisition Proposals. Unless and until this Agreement shall
have been terminated by a party pursuant to Section 7.1 hereof, neither Seller nor any of the Companies or Subsidiaries shall (and Seller shall ensure that none of the officers, directors, employees, representatives or Affiliates
of Seller or any of the Companies or Subsidiaries) take or cause or permit any Person to take, directly or indirectly, any of the following actions with any party other than Buyer and its designees: (i) solicit, encourage, initiate, or engage
in any negotiations, inquiries or discussions or provide information with respect to any offer or proposal to acquire all or any significant part of the business, assets or Equity Securities, whether by merger, consolidation, other business
combination, purchase of assets or otherwise of any of the Companies or the Subsidiaries (each of the foregoing, an “Acquisition Transaction”); or (ii) enter into or execute any agreement relating to an Acquisition
Transaction. 
 5.8 Tax Covenants. 
 (a) All Tax Returns of the Companies and Subsidiaries not required to be filed on or before the date hereof will, to the extent required to be filed on or before the Closing Date, (i) be filed when due in
accordance with all Applicable Laws and shall be prepared consistent with past practice, and (ii) as of the time of filing, be correct and complete in all material respects. A copy of all Tax Returns described in this
Section 5.8(a) shall be provided to Buyer for Buyer’s review and approval (not to be unreasonably withheld or delayed). 
 (b) The Companies and Subsidiaries shall timely pay the amount of Taxes shown as due on the Tax Returns that are filed pursuant to Section 5.8(a). 
 (c) Buyer shall prepare and file, or shall cause to be prepared and filed, all Tax Returns required to be filed by or with respect to the Companies or
Subsidiaries other than the Tax Returns described in Section 5.8(a). Any such Tax Returns that relate to a taxable period that began prior to the Closing Date shall be prepared on a basis consistent with past practice and shall be
provided to Seller for its approval at least thirty (30) days prior to filing. 
 (d) During the period from the date hereof to the
Closing Date, Seller shall notify Buyer promptly if it receives notice of any material Tax audit, the assessment of any Tax, or the assertion of any Tax Lien with respect to the Companies or Subsidiaries. 
  

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 (e) Without the prior written consent of Seller, which consent shall not be unreasonably withheld, after the Closing, none of the Companies or Subsidiaries shall file any amended Tax Return with respect to any period
that ends on or before the Closing Date. 
 (f) Seller, the Companies and Subsidiaries shall, as of the Closing Date, terminate all Tax
allocation agreements or Tax sharing agreements with respect to the Companies and Subsidiaries, and shall ensure that such agreements are of no further force or effect as to the Companies or Subsidiaries on and after the Closing Date and there shall
be no further liability of the Companies or Subsidiaries under any such agreement. 
 (g) The amount of any refunds of Taxes payable to the
Companies or Subsidiaries following the Closing Date and attributable to Taxes of the Companies or the Subsidiaries for any Pre-Closing Period shall be for the account of Seller, and shall be paid over to Seller when actually received by the
Companies or Subsidiaries, except for refunds of Taxes incurred by the Companies or Subsidiaries in the ordinary course of business after December 31, 2004. Buyer shall, if Seller so requests and at Seller’s expense, cause the Companies or
Subsidiaries to file for and obtain any refunds to which Seller is entitled pursuant to this Section 5.8(g). 
 (h) Buyer
will not make an election under Section 338 of the Code with respect to the purchase of stock of Amana US or, if applicable, any other Company or Subsidiary that is a “domestic corporation” as defined in Sections 7701(a)(3) and
(4) of the Code. Buyer may make an election under Section 338 of the Code with respect to the purchase of stock of any other Company or Subsidiary. 
 (i) For purposes of this Agreement, in order appropriately to apportion any Taxes relating to a period that includes (but that would not, but for this section, close on) the Closing Date, the parties hereto will, to
the extent permitted by Applicable Law, elect with the relevant taxing authorities to treat for all purposes the Closing Date as the last day of a taxable period of the Companies and Subsidiaries, and such period shall be treated as a
“Short Period” and a “Pre-Closing Period” for purposes of this Agreement. In any case where applicable law does not permit the Companies or Subsidiaries to treat the Closing Date as the last day of a
Short Period, then for purposes of this Agreement, the portion of such Taxes that is attributable to the operations of the Companies and Subsidiaries for such Interim Period (as defined below) shall be (i) in the case of Taxes that are not
based on income or gross receipts, the total amount of such Taxes for the period in question multiplied by a fraction, the numerator of which is the number of days in the Interim Period, and the denominator of which is the total number of days in
the entire period in question, and (ii) in the case of Taxes that are based on income or gross receipts, the Taxes that would be due with respect to the Interim Period, if such Interim Period were a Short Period (for the avoidance of doubt, the
portion of any such Tax that is allocable to the portion of the period ending on the Closing Date shall be deemed equal to the amount which would be payable if the taxable year ended with the Closing Date). “Interim Period”
means with respect to any Taxes imposed on the Companies or Subsidiaries on a periodic basis for which the Closing Date is not the last day of a Short Period, the period of time beginning on the first day of the actual taxable period that includes
(but does not end on) the Closing Date and ending on and including the Closing Date. 
 5.9 Supply Agreements. Commencing upon notice
from Seller to Buyer, unless otherwise agreed to by the parties, after the Closing, the parties will enter into (i) content supply agreements pursuant to which each of Buyer, the Companies and the Subsidiaries, on the one hand, and Seller, on
the other hand, will supply the other with Images, and (ii) agreements providing for the establishment of production centers, each of these agreements referred to in (i) and (ii) above shall be in form and substance reasonably
acceptable to the parties, provided such agreements shall be consistent with the 
  

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 terms of the Letter of Intent between Seller and Buyer dated May 2, 2005 regarding these agreements. In regard to the obligations under this Section 5.9, the parties agree to proceed in good faith and to use commercially
reasonable efforts to conclude these agreements as soon as reasonably possible. 
 5.10 Seller Trademarks. Notwithstanding anything to
the contrary contained in this Agreement, it is expressly agreed that (i) Buyer is not purchasing, acquiring or otherwise obtaining, and neither the Companies nor the Subsidiaries will be entitled to retain following the Closing Date, any
right, title or interest in any Seller Trademarks or any part or variation or anything confusingly similar thereto; and (ii) neither the Companies, Subsidiaries nor Buyer and its Affiliates shall make use of Seller Trademarks from and after the
Closing, except that the Companies and Subsidiaries shall have a reasonable transition period for phasing out use of Seller Trademarks on websites, company names, Image metadata, stationary, business cards, letterheads and other such consumable
materials in stock at the Closing, which transition period shall not last longer than 90 days. Furthermore, promptly following Closing, Buyer shall cause the Companies and the Subsidiaries to cease using any Seller Trademarks in the Companies’
and Subsidiaries’ corporate names. 
 5.11 Post-Closing Cooperation. After the Closing, upon reasonable written notice and
subject to such conditions as may be reasonably required, the parties shall furnish or cause to be furnished to each other and their employees, counsel, auditors and other representatives, physical access, during normal business hours, such
information and assistance relating to the Companies and the Subsidiaries as is reasonably necessary for each party’s financial reporting, consolidation and accounting matters, the preparation and filing of any Tax Returns, reports or forms or
the defense of any Tax audit, claim or assessment. Each party shall reimburse the other for reasonable out-of-pocket costs and expenses incurred in assisting the other party pursuant to this Section 5.11. Neither party shall be
required by this Section 5.11 to take any action that would unreasonably interfere with the conduct of its business or unreasonably disrupt its normal operations. The parties shall cooperate in connection with any filings required to be made by
any party with Governmental Authorities after the Closing. 
 5.12 Seller Guaranties. Buyer shall have each Seller Guaranty set forth
on Schedule 5.12 released and cancelled at the Closing, provided, however, to the extent that any Seller Guaranty cannot be so released and cancelled, Buyer shall (a) cause itself to be substituted at the
Closing for Seller and each of Seller’s Affiliates directly affected thereby in respect of such Seller Guaranty and (b) assume all of Seller’s and each of Seller’s Affiliates’, as applicable, rights and obligations with
respect to any such non-released and non-cancelled Seller Guaranties; provided, further, that, Seller shall not have any obligation or liability with respect to such non-released and non-cancelled Seller Guaranties after the Closing
Date. 
 5.13 Transition Services Agreement. In connection with Closing, Seller and Amana EU shall enter into a Transition Services
Agreement (the “Transition Services Agreement”) in substantially the form attached hereto as Exhibit 5.13. 
 5.14 Transfer of Illustrator Contracts; Right to Use the “Photonica” Mark in “Blue Mountain” URL. Prior to Closing, Seller may enter into an arrangement with the relevant Companies pursuant
to which (i) Amana US transfers to Seller those contracts contained in and assets specified at Schedule 5.14 and (ii) the Companies allow Seller to use the “Photonica” name in the Adobe “Blue
Mountain” URL known as “amanapbm.photonica.com” for a period of no more than one (1) year following Closing, on a royalty-free basis, but only so long as such URL does not hold or link to an HTML website that can be viewed using
a web browser via the Internet. Seller shall be responsible for and shall indemnify and hold Buyer harmless from and against all Taxes, costs and expenses associated with such arrangements and such arrangements shall be pursuant to agreements
reasonably acceptable to Buyer. 
  

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 5.15 Analogue Archive. Seller holds in Tokyo an analogue archive of approximately 30,000 Images that belong to the Companies and Subsidiaries. Promptly following Closing, Seller shall transfer, at Seller’s
cost, its analogue archive of such Images to Amana US at such location in the U.S. as is reasonably required by Buyer. 
 5.16 Photonica
Mark. Promptly following Closing, Seller shall, at Seller’s cost, transfer to the Companies through appropriate steps, instruments and documentation all right, title and interest it may have in the mark “Photonica” (and all
translations and transliterations thereof) and in all registrations and applications for such mark in any locations around the world, all of which steps, instruments and documentation shall be reasonably acceptable to Buyer. 
 5.17 Getty Litigation. Within 5 days after the Closing, Buyer shall seek dismissal with prejudice of the Getty Litigation, with each party to bear
its own costs in connection therewith, pursuant to the Settlement Agreement to be agreed between the parties thereto. Such agreement shall provide a full and complete release to Seller and its Affiliates and their respective shareholders, directors,
officers, employees and agents for any and all claims raised in the Getty Litigation. Buyer and Seller shall work together to avoid or minimize any action required to be taken in the Getty Litigation prior to such date. 
 5.18 US 401(k) Plan. Seller shall cause Amana US to terminate each Employee Plan that constitutes a “401(k) plan” prior to the Closing
Date, unless Buyer, in its sole and absolute discretion, agrees to sponsor and maintain such 401(k) plan by providing Seller with written notice of such election not less than three business days prior to the Closing Date. Prior to the Closing Date,
Seller shall provide Buyer with evidence reasonably satisfactory to Buyer that each such 401(k) plan with respect to which Buyer has not provided the notice specified in the immediately preceding sentence has been terminated pursuant to resolutions
of the Board of Directors of Amana US (the form and substance of such resolutions shall be subject to advance review and approval by Buyer, which approval shall not be unreasonably withheld), effective not later than the day immediately preceding
the Closing Date. 
 5.19 Agreements with Seller. Except as agreed by the Buyer, Seller will terminate prior to the Closing all
agreements between Seller (or any of its directors, officers, employees or Affiliates), on the one hand, and any of the Companies or Subsidiaries, on the other hand. Except for trade payables owing by Seller to any of the Companies or Subsidiaries
and for trade payables owing by any of the Companies or Subsidiaries to Seller, each arising in the ordinary course of business consistent with past practice, all amounts owed by any party to any of those agreements will be settled in full prior to
the Closing. 
 ARTICLE VI 
 CONDITIONS TO CLOSING 
 6.1 Conditions to Seller’s Obligations. The obligations of Seller to consummate the
transactions contemplated by this Agreement are subject to the fulfillment at or prior to the Closing of each of the following conditions (any or all of which may be waived in whole or in part by Seller). 
 (a) Representations and Warranties. The representations and warranties of Buyer in this Agreement shall be true and correct in all material
respects as at the date when made and at and 
  

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 as of the Closing Date as though such representations and warranties were made at and as of the Closing Date (except for representations and warranties expressly stated to relate to a specific date, in which case such representation and
warranties shall be true and correct as of such earlier date). 
 (b) Performance. Buyer shall have, in all material respects,
performed and complied with all agreements, obligations, covenants and conditions required by this Agreement to be so performed or complied with by Buyer at or prior to the Closing. 
 (c) Officer’s Certificate. Buyer shall have delivered to Seller the Buyer Closing Certificate. 
 (d) Transaction Agreements. Buyer shall have executed and delivered to Seller its counterparts of the Transaction Agreements to which it is a
party. 
 (e) Board Resolution. Seller shall have received from Buyer certified copies of the resolutions duly adopted by the board of
directors of Buyer approving the execution and delivery of this Agreement and the Transaction Agreements and the consummation of the transactions contemplated hereby and thereby. 
 (f) Payment for Intracompany Debts. Buyer shall have purchased all Intracompany Debts pursuant to Section 2.2. 
 (g) Consents; Approvals. The consents, approvals and actions of, filings with and notices to any Governmental Authority necessary to permit Buyer
and Seller to perform their obligations under this Agreement and the Transaction Agreements and to consummate the transactions contemplated hereby and thereby listed on Schedule 6.1(g) shall have been obtained and shall be in full
force and effect. 
 6.2 Conditions to Buyer’s Obligations. The obligations of Buyer to consummate the transactions contemplated
by this Agreement are subject to the fulfillment at or prior to the Closing of each of the following conditions (any or all of which may be waived in whole or in part by Buyer): 
 (a) Representations and Warranties. The representations and warranties of Seller in this Agreement shall be true and correct in all material
respects on and as of the Closing Date as though such representations and warranties were made at and as of the Closing Date (except for representations and warranties expressly stated to relate to a specific date, in which case such representation
and warranties shall be true and correct as of such earlier date). 
 (b) Performance. Seller shall have, in all material respects,
performed and complied with all agreements, obligations, covenants and conditions required by this Agreement to be so performed or complied with by Seller, the Companies and the Subsidiaries at or prior to the Closing. 
 (c) Officer’s Certificate. Seller shall have delivered to Buyer the Seller Closing Certificate. 
 (d) Consents; Approvals. Consents, approvals and actions of, filings with and notices to any Governmental Authority necessary to permit Buyer and
Seller to perform their obligations under this Agreement and the Transaction Agreements and to consummate the transactions contemplated hereby and thereby, and consents (or in lieu thereof waivers) listed on Schedule 6.2(d), shall have
been obtained and shall be in full force and effect. 
  

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 (e) Litigation. There shall be no investigation, notice, litigation, arbitration or proceeding pending or threatened for the purpose of enjoining or preventing the consummation of this Agreement or the
Transaction Agreements or otherwise claiming that the consummation of this Agreement or the Transaction Agreements is illegal or improper or which, if decided adversely, would have a Material Adverse Effect, or that would cause any of the
transactions contemplated by this Agreement or the Transaction Agreements to be rescinded following consummation (and no such judgment, order, decree, stipulation, injunction or change shall be in effect). 
 (f) Transaction Agreements. Seller, the Companies and Subsidiaries, as appropriate, shall have executed and delivered to Buyer their applicable
counterparts of the Transaction Agreements. 
 (g) Board Resolution. Buyer shall have received from Seller certified copies of the
resolutions duly adopted by the board of directors of Seller approving the execution and delivery of this Agreement and the Transaction Agreements and the consummation of the transactions contemplated hereby and thereby. 
 (h) Resignations. Buyer shall have received the letters of resignation of all of the directors of the Companies and Subsidiaries in form and
substance reasonably satisfactory to Buyer (which resignations, other than the right to serve as an officer or director, shall not affect or otherwise impair the rights of any officer or director as an employee of any of the Companies or
Subsidiaries). 
 (i) Termination of Intracompany Agreements. All agreements set forth in Schedule 6.2(i) shall have
been terminated by the parties thereto, with no further liability to the Companies or Subsidiaries under such agreements. 
 (j) Certain
Employees. As of immediately prior to the Closing, each of David Neilson and Terence Talerman shall have accepted and not revoked either an offer of employment by Buyer, or an offer of continued employment by the Companies or Subsidiaries, as
appropriate, each on terms and conditions no less favorable that currently being provided, and shall not have taken any action to terminate such offer letter or employment agreement. 
 (k) FIRPTA Certificate. Buyer shall have received from Amana US, pursuant to Section 1445 of the Code, a certificate as of the Closing Date
in substantially the form attached hereto as Exhibit 6.2(k). 
 6.3 Reliance. Each party acknowledges that the
other party in entering into this Agreement is relying on the representations, warranties and undertakings contained herein. 
 ARTICLE VII

 TERMINATION 
 7.1
Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned: 
 (a) at any time, by mutual
written agreement of Seller and Buyer; 
 (b) at any time after June 30, 2005 (the “Outside Date”), by Seller
upon written notice to Buyer, if the Closing shall not have occurred for any reason other than a breach of this Agreement by Seller; or 
  

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 (c) at any time after the Outside Date, by Buyer upon written notice to the Company, if the Closing shall not have occurred for any reason other than a breach of this Agreement by Buyer. 
 7.2 Procedure and Effect of Termination. In the event of the termination of this Agreement and the abandonment of the transactions contemplated
hereby pursuant to Section 7.1, this Agreement shall become void and there shall be no liability on the part of any party hereto except (a) the obligations provided for in Sections 7.2, 5.4
and Article IX shall survive any such termination of this Agreement and (b) nothing herein shall relieve any party from liability for breach of this Agreement. 
 ARTICLE VIII 
 INDEMNIFICATION 
 8.1 Survival. The representations and warranties of Seller in Article III and Buyer in Article IV, and the
indemnification obligations of Seller and Buyer in respect of the same and under Sections 8.2 and 8.3 shall continue in full force and effect notwithstanding the Closing and shall survive until two (2) years from the Closing Date
(“Survival Period”), provided, however, that (a) rights to indemnification in respect of Tax Losses and for breach of Seller’s representations and warranties at Sections 3.14 shall
survive for the applicable statute of limitations period for the underlying claim plus ninety (90) days, (b) rights to indemnification for breach of Seller’s representations and warranties at
Section 3.1, 3.3, 3.4, and 3.5, and for any Losses incurred by Buyer, the Companies or Subsidiaries related to the matters set forth in Sections 3.11(b)(vi) (note
1), 3.13 (note 3) or 3.17 (note 1) of the Disclosure Schedule shall survive indefinitely, (c) rights to indemnification in respect of breaches of Sections 5.4 and 5.10 shall
survive until five (5) years from the Closing Date, (d) rights to indemnification in respect of breaches of Section 3.12 shall survive until three (3) years from the Closing Date, and (e) rights to
indemnification for breach of a party’s representations and warranties that was notified in writing by the other party prior to the end of the applicable Survival Period shall survive until the matter is resolved. The foregoing survival
provisions shall not affect or apply to the parties’ rights, obligations and liabilities under the Transaction Agreements. The survival of representations and warranties shall not be affected by any investigation made by the person to whom such
representations and warranties were made or by any knowledge or belief by the recipient of such representations and warranties that they are or might be inaccurate, wrong or incomplete. 
 8.2 Indemnification by Buyer. Buyer shall indemnify and hold Seller, its Affiliates and their respective employees, officers and directors (the
“Seller Indemnified Parties”) harmless from and against, and agrees to promptly defend any Seller Indemnified Party from and reimburse any Seller Indemnified Party for, any and all losses, damages, costs, expenses,
liabilities, fines, penalties, obligations and claims of any kind (including any Action brought by any Third Party and including reasonable attorneys’ fees and other legal costs and expenses reasonably incurred) (collectively,
“Losses”), which such Seller Indemnified Party may at any time suffer or incur, or become subject to, as a result of or in connection with (i) the inaccuracy as of the date of this Agreement or the Closing Date of any
representations and warranties made by the Buyer in this Agreement, or (ii) any failure by the Buyer to carry out, perform, satisfy and discharge any of its covenants, agreements, undertakings, liabilities or obligations under this Agreement;
provided, however, that, in each case, Buyer shall have no such obligation for any such Losses to the extent arising as a result of or in connection with any gross negligence or willful misconduct of any Seller Indemnified Party. Buyer
shall indemnify and hold the Seller Indemnified Parties harmless from and against, and agrees to promptly defend any Seller Indemnified Party from and reimburse such Seller Indemnified Party for any Losses arising from 
  

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 any Action brought by a Third Party, which such Seller Indemnified Party may at any time suffer or incur, or become subject to, as a result of, in connection with, or relating to, any act or omission of any Company or Subsidiary after the
Closing Date, except to the extent that (x) Seller has an obligation to indemnify with respect to any such Losses under Section 8.3 and (y) any such Losses arise as a result of or in connection with any gross negligence
or willful misconduct of any Seller Indemnified Party. 
 8.3 Indemnification by Seller. 
 (a) Seller shall indemnify and hold Buyer, the Companies and the Subsidiaries (collectively, the “Buyer Indemnified
Parties”) harmless from and against, and agrees to promptly defend any Buyer Indemnified Party from and reimburse any Buyer Indemnified Party for, any and all Losses which such Buyer Indemnified Party may at any time suffer or incur, or
become subject to, as a result of or in connection with (i) the inaccuracy as of the date of this Agreement or the Closing Date of any representations and warranties made by Seller in this Agreement, (ii) any failure by Seller to carry
out, perform, satisfy and discharge any of its covenants, agreements, undertakings, liabilities or obligations under this Agreement, or (iii) any Tax liability of any of the Companies or Subsidiaries for any Pre-Closing Period, except for Taxes
incurred after December 31, 2004 in the ordinary course of business (all such Losses in this clause (a)(iii) with respect to Tax matters are referred to herein as “Tax Losses”), or (iv) any Losses
incurred by Buyer, the Companies or Subsidiaries related to the matters set forth in Sections 3.11(b)(vi) (note 1), 3.13 (note 3) or 3.17 (note 1) of the Disclosure Schedule. Notwithstanding the foregoing,
Seller shall have no such obligation for any such Losses to the extent arising as a result of or in connection with any gross negligence or willful misconduct of any Buyer Indemnified Party. 
 (b) The amounts for which Seller shall be liable under Section 8.3(a) shall be net of any insurance payable to the Buyer Indemnified
Parties from the insurance policies of the Companies and Subsidiaries in place as at the Effective Date in connection with the facts giving rise to the right of indemnification, provided, however, that Seller shall bear all costs
associated with maintaining such policies after the Closing Date. 
 (c) Notwithstanding any other provision to the contrary, Seller shall
not be required to indemnify and hold harmless any Buyer Indemnified Party pursuant to Section 8.3(a) unless the aggregate amount of the Buyer Indemnified Parties’ Losses in respect of Section 8.3(a) exceed
$600,000, after which point Seller shall be obligated for all such Losses of the Buyer Indemnified Parties in excess of the $600,000. The cumulative indemnification obligation of Seller under Section 8.3(a) shall in no event
exceed $10,000,000. The foregoing threshold on indemnification liability shall not apply to Tax Losses, Seller’s indemnification obligations for breaches of Section 3.1, 3.3, 3.4,
3.5, or 3.14 or Seller’s obligations pursuant to the provisions of Section 9.9. The foregoing cap shall not apply to Tax Losses or Seller’s indemnification obligation for breaches of
Section 3.1, 3.3, 3.4, 3.5, or 3.14, but amounts payable under such Sections shall count towards the cap for other claims. 
 8.4 Notification of Claims. 
 (a) A
party entitled to be indemnified pursuant to Section 8.2 or 8.3 (the “Indemnified Party”) shall promptly notify the party liable for such indemnification (the “Indemnifying
Party”) in writing of any claim or demand which the Indemnified Party has determined has given or could give rise to a right of indemnification under this Agreement; provided that the Indemnifying Party will have no liability hereunder
(for indemnification or otherwise) with respect to any representation or warranty, unless before the expiration of the applicable Survival Period the Indemnified Party notifies the Indemnifying Party of a claim specifying the factual basis of that
claim in reasonable detail to the extent then known by the Indemnified Party in accordance with this Section 8.4(a). 
  

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 (b) If the Indemnified Party shall notify the Indemnifying Party of any claim or demand pursuant to Section 8.4(a) (other than a claim or demand that relates to Tax Losses or a potential breach of
the representations and warranties at Section 3.14, the procedure for which shall be governed exclusively by Section 8.4(c)), and if such claim or demand relates to a claim or demand asserted by a Third Party
against the Indemnified Party, the Indemnifying Party shall have the right to undertake, conduct and control the defense thereof, and to employ counsel reasonably acceptable to the Indemnified Party to defend any such claim or demand asserted
against the Indemnified Party, at the Indemnifying Party’s sole expense; provided, however, that the Indemnified Party may elect to assume the defense and handle any such Third Party claim if it determines in good faith that the resolution of
such Third Party claim could result in a material adverse impact on the business, operations, assets, liabilities (absolute, accrued, contingent or otherwise), condition (financial or otherwise) or prospects of the Indemnified Party beyond the scope
of the indemnified event. The Indemnified Party shall have the right to participate in the defense of any such claim or demand at its own expense. The Indemnifying Party shall defend or handle the same in consultation with the Indemnified Party and
shall keep the Indemnified Party timely apprised of the status of such Third Party claim. The Indemnifying Party shall notify the Indemnified Party in writing, as promptly as possible (but in any case before the due date for the answer or response
to a claim) after the date of the notice of claim given by the Indemnified Party to the Indemnifying Party under Section 8.4(a), of its election to defend in good faith any such Third Party claim or demand. So long as the
Indemnifying Party is defending in good faith any such claim or demand asserted by a Third Party against the Indemnified Party, the Indemnified Party shall not settle or compromise such claim or demand without the prior written consent of the
Indemnifying Party. The Indemnified Party shall make available to the Indemnifying Party or its agents, at the Indemnifying Party’s cost, all records and other material in the Indemnified Party’s possession reasonably required by it for
its use in contesting any Third Party claim or demand. Neither the Indemnifying Party nor the Indemnified Party shall settle or compromise any such claim or demand unless the Indemnifying Party or the Indemnified Party, as the case may be, is given
a full and complete release of any and all liability by all relevant parties relating thereto. No non-monetary settlement of any claim or demand may be entered into without the written consent of the Indemnified Party. 
 (c) If the Indemnified Party shall notify the Indemnifying Party pursuant to Section 8.4(a) of any claim or demand that relates to Tax
Losses or a potential breach of the representations and warranties at Section 3.14 (a “Tax Contest”), the procedures relating to such claim shall be governed by this Section 8.4(c).

 (i) If such Tax Contest relates to a claim or demand asserted by a Third Party against the Indemnified Party, the Indemnifying Party may,
at its own expense, participate in and, upon notice to the Indemnified Party, assume the defense of any such claim, demand, suit, action or proceeding (including any Tax audit). 
 (ii) If the Indemnifying Party shall control the defense of such Tax Contest, the Indemnified Party shall be entitled to participate, at its own expense,
in the defense of such Tax Contest, and to employ counsel of its choice for such purpose. The Indemnifying Party shall have the right to either pay the Tax claimed and sue for refund, where permitted by law, or to contest the Tax Contest in any
permissible manner, provided, however, that the Indemnifying Party shall obtain the prior written consent of the Indemnified Party before entering into any settlement of, or ceasing to defend, a Tax Contest if the resolution or settlement relating
to such Tax Contest could have the effect of increasing the Tax liability of the Indemnified Party for a Post-Closing Period. 
 (iii) The
Indemnified Party shall not settle or cease to defend a Tax Contest without the written consent of the Indemnifying Party. Whether or not the Indemnifying Party 
  

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 chooses to defend or prosecute any Tax Contest, the parties hereto shall cooperate in the defense or prosecution of such Tax Contest, including, without limitation, consultation in good faith regarding proposed
actions, and making employees and records available on a mutually convenient basis to the extent relevant to such Tax Contest 
 8.5
Exclusive Remedies. The indemnification provisions of Sections 8.2 and 8.3 shall be the sole and exclusive remedies of Buyer and Seller, respectively, for any breach of the representations, warranties,
covenants, agreements, undertakings or obligations herein, or any Losses addressed herein. Nothing in the foregoing or in other provisions of this Agreement shall affect rights and remedies in respect of fraud. Neither party shall be liable to the
other party for any indirect, special, punitive, exemplary or consequential loss or damage (including any lost revenue or profit) arising out of this Agreement. Both parties shall mitigate their damages. Any indemnification payment hereunder shall
be deemed an adjustment to the Purchase Price. 
 ARTICLE IX 
 MISCELLANEOUS 
 9.1 Further Assurances. From time to time after the
Closing Date, at the request of the other party hereto and at the expense of the party so requesting, the parties hereto shall execute and deliver to such requesting party such documents and take such other action as such requesting party may
reasonably request in order to consummate the transactions contemplated hereby. 
 9.2 Notices. All notices, requests, demands,
waivers and communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered (i) by hand (including by reputable overnight courier), (ii) by mail (certified
or registered mail, return receipt requested) or (iii) by telecopy facsimile transmission (receipt of which is confirmed): 
  

	 	(a)	If to Buyer, to: 

 Getty Images, Inc.

 601 N. 34th Street 
 Seattle, Washington 98103 
 USA 
 Telephone: 1.206.925.5000 
 Telecopy: 1.206.925.5623 
 Attention: Legal Counsel 
 with a copy to: 
 Ms. Amy Weaver, Esq. 
 Perkins Coie LLP 
 1201 Third Avenue, 40th Floor 
 Seattle, Washington 98101-3099 
 Telephone: 1.206.359.3319 
 Telecopy: 1.206.359.9000 
  

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	 	(b)	If to Seller, to: 

 Amana inc. 

2-2-43, T-33 Higashishinagawa, 
 Shinagawa-ku, Tokyo, 140-0002, Japan 
 Telephone: (81)3-3740-2099 
 Attn: Mr. Masatoshi Fujii, Director 
 with a copy to: 
 Morrison & Foerster 
 AIG Building, 11th Floor 
 1-1-3 Marunouchi, Chiyoda-ku Tokyo, Japan 100-0005 
 Telephone: (81)3-3214-6836 

Attn: Mr. Steve DeCosse 
 or to such
other person or address as any party shall specify by notice in writing to the other party. All such notices, requests, demands, waivers and communications shall be deemed to have been given (i) on the date on which so hand-delivered,
(ii) on the third business day following the date on which so mailed and (iii) on the date on which telecopied and confirmed, except for a notice of change of address, which shall be effective only upon receipt thereof. 
 9.3 Exhibits and Schedules. Any matter, information or item disclosed in the schedules delivered by Seller or in any of the
Exhibits attached hereto, under any specific representation or warranty or schedule number hereof, shall be deemed to have been disclosed for all purposes of this Agreement in response to every representation or warranty in this Agreement in respect
of which such disclosure is reasonably apparent. The inclusion of any matter, information or item in any schedule to this Agreement shall not be deemed to constitute an admission of any liability by any Company to any third party or otherwise imply,
that any such matter, information or item is material or creates a measure for materiality for the purposes of this Agreement. 
 9.4 Amendment, Modification and Waiver. This Agreement may be amended, modified or supplemented at any time by written agreement of the parties hereto. Any failure of Seller to comply with any term or provision of this Agreement may
be waived by Buyer, and any failure of Buyer to comply with any term or provision of this Agreement may be waived by Seller, at any time by an instrument in writing signed by or on behalf of such other party, but such waiver shall not operate as a
waiver of, or estoppel with respect to, any subsequent or other failure to comply. 
 9.5 Entire Agreement. This
Agreement, the Disclosure Schedule and the exhibits, schedules and other documents referred to herein which form a part hereof between the parties, contain the entire understanding of the parties hereto with respect to the subject matter hereof.
This Agreement supersedes all prior agreements and understandings, oral and written, with respect to its subject matter. 
 9.6 Severability. Should any provision of this Agreement for any reason be declared invalid or unenforceable, such decision shall not affect the validity or enforceability of any of the other provisions of this Agreement, which other
provisions shall remain in full force and effect and the application of such invalid or unenforceable provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall be valid and be enforced to the
fullest extent permitted by law. 
 9.7 Binding Effect; Assignment. This Agreement and all of the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, 
  

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 successors and permitted assigns, but except as contemplated herein, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, directly or indirectly, by any party without the
prior written consent of the other parties hereto, except that Buyer may assign all or any portion of its rights hereunder to one or more of its Affiliates without the consent of Seller, provided that no such assignment shall relieve Buyer of
its obligations hereunder. 
 9.8 No Third-Party Beneficiaries. Except as provided in ARTICLE VIII, this
Agreement is for the sole benefit of the parties hereto and their permitted assigns and nothing herein is intended to or shall confer upon any other Person not a party or a permitted assign of a party to this Agreement any legal or equitable right,
benefit or remedy or any nature whatsoever under or by reason of this Agreement. 
 9.9 Fees and Expenses/Transfer
Taxes. 
 (a) Whether or not the transactions contemplated hereby are consummated pursuant hereto, each party hereto
shall pay all fees and expenses incurred by it or on its behalf in connection with this Agreement, the Transaction Agreements, and the consummation of the transactions contemplated hereby and thereby. 
 (b) Buyer shall be liable for and shall pay all applicable sales, transfer, recording, deed, stamp and other similar taxes, including any
real property transfer or gains taxes (if any), resulting from the consummation of the transactions contemplated by this Agreement. 
 9.10 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 9.11 Interpretation. The article and section headings contained in this Agreement are solely for the purpose of reference, are not
part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement. As used in this Agreement: 
 (a) the term “Person” shall mean and include an individual, a partnership, a joint venture, a corporation, a limited liability company, a trust, an unincorporated organization and a government
or any department or agency thereof; 
 (b) the words “include,” “includes,”
and “including” shall be deemed in each case to be followed by the words “without limitation;” 
 (c) the term “consistent with past practice” shall mean the practice in the 24 months preceding the relevant date; 
 (d) the term “legally binding agreement” shall mean any agreement, arrangement, understanding, obligation, commitment, benefit or liability, as the case may be, which is or is intended to be
legally binding on the parties thereto; and 
 (e) any U.S. legal term for any action, right, obligation, remedy, method of
judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall, in respect of any jurisdiction other than the U.S., be deemed to include a reference to what most nearly approximates in that jurisdiction to the
U.S. legal term. 
 9.12 Enforcement of Agreement. The parties hereto agree that irreparable damage would occur in the
event that any of the provisions of this Agreement was not performed in accordance with 
  

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 its specific terms or was otherwise breached. It is accordingly agreed that the parties will be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions hereof, this being in addition to any other remedy to which they are entitled at law or in equity. 
 9.13
Forum; Service of Process. Unless otherwise agreed in writing by the parties, any legal suit, action or proceeding brought by any party or any of its affiliates arising out of or based upon this Agreement shall only be instituted in the
United States District Court for the Southern District of New York, unless federal jurisdiction does not exist, in which case any such action, suit or proceeding shall be brought in the Supreme Court of the State of New York, New York County. Each
party hereto waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the jurisdiction of such court in any such suit, action or proceeding. For 7 years following the Closing
Date, Seller authorizes and appoints National Registered Agents, located at
                                        
                    , as its agent for service of notices, process and/or proceedings in relation to any matter arising out of or in connection
with this Agreement and service on such agent in accordance with this section shall be deemed to be effective service on Seller. 
 9.14 Governing Law. This Agreement shall be governed by, construed and interpreted in accordance with the internal laws of the State of New York, without regard to its rules regarding conflicts of laws. 
 9.15 WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES HERETO HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A
JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL
DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THE PARTIES HERETO ACKNOWLEDGE THAT THIS
WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THAT EACH WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS. THE PARTIES HERETO
FURTHER WARRANT AND REPRESENT THAT EACH HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY
NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY.
IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
  

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 ARTICLE X 
 DEFINITIONS 
 “Accounts” - as defined in Section 3.7. 
 “Action” means any claim, action, suit, arbitration, inquiry, proceeding or investigation. 
 “Affiliate” means, with respect to any party a corporation or other entity controlled by such party, controls such party
or is under common control with such party, for so long as such control continues to exist. For purposes of this paragraph, “control” means ownership, directly or indirectly, of at least fifty percent (50%) of the equity or voting
rights (or, in the case of a non-corporate entity, equivalent right) in such corporation or entity. 
 “Agreement” -
as defined in the preamble of this Agreement. 
 “Amana EU” - as defined in the recitals to this Agreement.

 “Amana-France” - as defined in the recitals to this Agreement. 
 “Amana-Germany” - as defined in the recitals to this Agreement. 
 “Amana-Italy” - as defined in the recitals to this Agreement. 
 “Amana US” - as defined in the preamble to this Agreement. 
 “Annual Financial Statements” - as defined in Section 3.6. 
 “Applicable Law” means any statute, law, ordinance, rule or regulation of a Governmental Authority applicable to the Companies,
Subsidiaries, Seller, Buyer or any of their respective assets, as the case may be. 
 “Business Day” means any day
other than a Saturday, Sunday or a day on which banks in Japan or in Seattle, Washington are authorized or obligated by Applicable Law or executive order to close. 
 “Buyer” - as defined in the preamble of this Agreement. 
 “Buyer Closing
Certificate” - as defined in Section 2.3(c)(i). 
 “Buyer Indemnified Parties”
- as defined in Section 8.3(a). 
 “Buyer’s Acquisition Team” means Jonathan Klein, Liz
Huebner, Jeff Beyle, John Lapham, Simon Quirk, Carrie McCabe, Steve Cristallo, John Hults, Mike Harris, Mark King, Jim Gurke, Ralph Tribe, Lisa Calvert, Deb Trevino, Bridget Russell, Nick Evans-Lombe, Richard Ellis, Robert Gubas and Anthony Harris.

 “Closing” - as defined in Section 2.3(a). 
 “Closing Date” - as defined in Section 2.3(a). 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Company” or “Companies” - as defined in the recital to this Agreement. 
 “Company Intellectual Property” - as defined in Section 3.11(b). 
 “Company Licensed Intellectual Property” as defined in Section 3.11(b). 
  

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 “Company Owned Intellectual Property” as defined in Section 3.11(b). 
 “Content Supply and Production Facility Agreement” - as defined in Section 5.9. 
 “Contract” means except as specifically provided in this Agreement, any written agreement, contract, lease, license, promissory note, conditional sales contract, indenture, mortgage, deed of trust, commitment,
undertaking, instrument or arrangement of any kind. 
 “Debt” means any borrowed money indebtedness or any guarantee
of indebtedness. 
 “Designated Exchange Rate” - as defined in Section 3.7. 
 “Disclosure Schedule” - as defined in the introductory paragraph to Article III. 
 “Dollar” or “$” means United States dollars. 
 “Effective Date” - as defined in the preamble of this Agreement. 
 “Employee Plan” - as defined in Section 3.19. 
 “Environmental Laws” - as defined in Section 3.18. 
 “Equipment” means any machinery, tools, appliances, vehicles, furniture, fixtures, equipment, computers (and related software
systems), parts or similar tangible personal Property. 
 “Equity Security” means any class of capital stock, share
capital, equity share capital or other equity securities of the relevant corporation, company, limited liability company, partnership, trust, organization or other legal entity. 
 “ERISA” - as defined in Section 3.18. 
 “Exploitation” means the use, display, reproduction, manufacturing, distribution, licensing, sublicensing, sale, representation
or any other exercise of any Intellectual Property rights, or any rights relating thereto, in any product, work, technology, process or other form or manner, including but not limited to any online use or transmission via internet or other
electronic medium, whether now known or hereafter devised. “Exploit” means to so use, display, reproduce, manufacture, distribute, license, sublicense, sell, represent or otherwise exercise any Intellectual Property rights,
or any rights relating thereto. 
 “Financial Statements” - as defined in Section 3.6. 

“GAAP” - as defined in Section 3.6. 
 “Getty Litigation” means Getty Images, Inc. v. Amana America, Inc., pending in the U.S. District Court for the Western District
of Washington. 
 “Governmental Authority” means any government or political subdivision, whether federal, state,
local or foreign, or any agency or instrumentality of any such government or political subdivision, or any federal, state, local or foreign court or arbitrator. 
  

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 “Hazardous Waste” means hazardous waste, substance, material, or chemical pollutant or contaminant, including petroleum and petroleum products, asbestos and any other material regulated under,
or that can result in liability under, applicable Environmental Laws. 
 “Iconica” - as defined in the recitals to
this Agreement. 
 “Image” means a photographic image, whether digital, analog or other form, that has been Exploited
by any of the Companies or Subsidiaries or is held for Exploitation by any of such entities. The term “Image” includes both the tangible medium in which a particular photographic image is fixed or recorded as well as all
right, title, and interest, including all worldwide copyrights and other intellectual property rights, related to such Image. 
 “Indemnified Party” - as defined in Section 8.4(a). 
 “Indemnifying
Party” - as defined in Section 8.4(a). 
 “Intellectual Property” - as defined in
Section 3.11(b). 
 “Interim Financial Statements” - as defined in Section 3.6.

 “Interim Period” - as defined in Section 5.8(g). 
 “Intracompany Debts” means the net amount of Debt owing from any of the Companies or Subsidiaries, on the one hand, to Seller, on
the other hand, after allowing for set off of the amount of any Debt owing from Seller to any of the Companies or Subsidiaries. 
 “Liens” means, with respect to any specified asset, any and all liens, claims, encumbrances, options, pledges, restrictions and security interests thereon except for Permitted Liens. 
 “Losses” - as defined in Section 8.2.  
 “Material Adverse Effect” means such event, change or effect that is materially adverse to the financial condition, results of
operations or prospects of the Companies and Subsidiaries taken as a whole, other than events, changes or effects: (i) resulting from general economic conditions or the financial or securities markets generally; (ii) occurring generally in
the industries in which any of the Companies or Subsidiaries does business; (iii) resulting from the transactions contemplated by this Agreement or the announcement to third-parties and the public of the transactions contemplated by this
Agreement; or (iv) resulting from changes in laws or GAAP after the date hereof. 
 “Material Contract” - as
defined in Section 3.15. 
 “Order” means any award, decision, judgment, injunction, order, ruling
subpoena, or verdict entered, issued, made or rendered by any Governmental Authority. 
 “Outside Date” - as defined
in Section 7.1(b). 
 “Permit” - as defined in Section 3.21. 
 “Permitted Liens” means (i) mechanics’, carriers’, or workmen’s, repairmen’s or similar Liens arising or
incurred in the ordinary course of business consistent with past practice that are not overdue; (ii) Liens for taxes, assessments and any other governmental charges which are not due and payable or which may hereafter be paid without penalty or
which are being contested in good faith by appropriate 
  

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 proceedings and for which the relevant party has reserved an appropriate amount on its books and records in accordance with GAAP; (iii) other imperfections of title or encumbrances, if any, which imperfections of title or other
encumbrances, individually or in the aggregate, do not materially impair the use or value of the property to which they relate; (iv) Liens relating to the operating leases of equipment set forth on Section 3.9(b) of the
Disclosure Schedule; (v) the Real Property Leases; (vi) any matters to which a Real Property Lease is subject or subordinate; and (vii) any other Liens that will be terminated at or prior to Closing in accordance with this Agreement.

 “Person” - as defined in Section 9.11. 
 “Post-Closing Period” means any Tax period (or portion thereof) ending after the Closing Date. 
 “Pre-Closing Period” - means any Tax period (or portion thereof) ending on or before the Closing Date. 
 “Purchase Price” - as defined in Section 2.1(a). 
 “Real Property” - as defined in Section 3.10(b). 
 “Real Property Lease” - as defined in Section 3.10(a). 
 “Seller” - as defined in the preamble of this Agreement. 
 “Seller Closing Certificate” - as defined in Section 2.3(b)(i). 
 “Seller Guaranty” means any guaranty, letter of credit, letter of comfort, indemnity or contribution agreement or other similar
agreement entered into by Seller or any of its Affiliates in favor of any third party with respect to any actual or potential liability or obligation of the Companies or Subsidiaries to such third party. 
 “Seller Indemnified Parties” - as defined in Section 8.2. 
 “Seller Trademarks” means those U.S. and foreign registered and unregistered trademarks, trade dress, service marks,
logos, trade names, corporate names of Seller including, but not limited to, “Amana,” and all registrations and applications to register the same, each as listed on Schedule 10.1. 
 “Seller’s Knowledge” means the actual knowledge of any of the officers of the Seller who have, as of the date hereof,
primary responsibility for overseeing the business of any Company or Subsidiary (including Hironobu Shindo), or David Neilson, Kinya Horikoshi or Terry Talerman. 
 “Shares” - as defined in the recitals to this Agreement. 
 “Short
Period” - as defined in Section 5.8(h). 
 “Subsidiary” or
“Subsidiaries” - as defined in Section 3.5. 
 “Survival Period” - as
defined in Section 8.1. 
 “Tax” (including “Taxes”) means any and all
(i) domestic or foreign federal, state, provincial, regional, local, or other governmental taxes, duties, tariffs, assessments or fees in the nature of a tax, including net income, gross income, gross receipts, sales, use, value added, goods
and services, ad valorem, transfer, franchise, profits, license, withholding, payroll, employment, excise, severance, stamp, 
  

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 occupation, premium, property, windfall profits, customs, duties or other taxes of any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts with respect thereto, (ii) liability in
respect of any items described in clause (i) payable by reason of being a member of an affiliated, combined, unitary, consolidated, fiscal unity or similar group for any period, and (iii) liability in respect of any items described in
clause (i) or (ii) payable as a result of any express or implied obligation to indemnify any other Person with respect to such amount by reason of contract, assumption, transferee liability, operation of law or otherwise, including any
liability for Taxes of a predecessor or transferor entity. 
 “Tax Contest” - as defined in
Section 8.4(c). 
 “Tax Losses” - as defined in Section 8.3(a). 
 “Tax Return” means any return, declaration, report, statement, information return or statement or other document required to be
filed with respect to Taxes including any schedule thereto, and including any amendment thereof. 
 “Taxation
Authority” - as defined in Section 3.14(l). 
 “Taxation Statute” - as defined in
Section 3.14(m). 
 “TCGA” - as defined in Section 3.14(q). 
 “Third Party” means Governmental Authority or Person other than Seller, Buyer and their respective Affiliates. 
 “Third Party Debt” means Debt of the Companies and Subsidiaries, determined on a consolidated basis, which is not due to Seller.

 “TMA” - as defined in Section 3.14(m). 
 “Transaction Agreements” means the Content Supply and Production Facility Agreement; [•]; and [•]. 
 “Transition Services Agreement” as defined in Section 5.13. 
 “UK Companies” means any of the Companies or Subsidiaries organized and existing under the laws of England or Wales,
including Amana Europe Limited and Iconica Limited. 
 “UK Shares” means the Shares of the UK
Companies. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date. 
  

			
	 GETTY IMAGES, INC.

	 By:
	 	 /s/ Jonathan Klein

	 Name:
	 	 Jonathan Klein

	 Title:
	 	 Chief Executive Officer

	
	 AMANA INC.

	 By:
	 	 /s/ Hironobu Shindo

	 Name:
	 	 Hironobu Shindo

	 Title:
	 	 President & CEO

  

 44

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