Document:

Exhibit 10.28

 

RESTRICTED STOCK AWARD AND AGREEMENT

 

AGREEMENT entered on         ,
      by and between Bruker BioSciences Corporation, a
Delaware corporation with a principal place of business in Billerica,
Massachusetts (the “Company” ), and the undersigned employee (the “Participant”)
of the Company or one of its subsidiaries (the Company and its subsidiaries
herein together referred to as the “Company”).

 

WITNESSETH:

 

WHEREAS, the
Company has granted to the Participant and the Participant has this day received
from the Company  shares of the Company’s
common stock, par value $.01 per share (the “Shares”), pursuant to the
Company’s Amended and Restated 2000 Stock Option Plan (the “Plan”); and

 

WHEREAS, a
condition to the grant of the Shares to the Participant is that the Participant
execute this Agreement;

 

NOW, THEREFORE, in
consideration of the foregoing, the mutual covenants contained herein, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

 

1.                                      Forfeiture
of Shares Upon Termination of Employment. 
Shares that do not become vested in accordance with the vesting criteria
set forth in Section 2 (and any dividends or other distributions related
to such Shares) shall be forfeited to the Company.  Accordingly, if the Participant’s employment
with the Company terminates for any reason, then all unvested Shares shall be automatically
forfeited as of the date of termination, and any rights with respect to such
forfeited Shares will immediately cease.

 

2.                                      Vesting
of Shares.  So
long as the Participant continues to remain as an employee of the Company, the
Shares will be deemed to become “Vested Shares” twenty percent (20%) on
each of the first five (5) anniversaries of the date of this Agreement.   The foregoing vesting schedule notwithstanding,
if the employment of the Participant
with the Company terminates by reason of the Participant’s permanent and total disability
(within the meaning of Section 22(e)(3) of the Internal Revenue Code)
or death, all Shares or portions thereof not yet vested shall become
immediately vested.

 

3.                                      Restrictions
on Transfers.  Other than as set
forth herein, Participant shall not sell, assign, transfer, pledge, hypothecate
or otherwise dispose of, by operation of law or otherwise (collectively “transfer”),
any of the Shares, or any interest therein, unless and until such Shares are
Vested Shares.

 

4.                                      Specific
Enforcement.  The Participant
expressly acknowledges that the Company may be irreparably damaged if this
Agreement is not specifically enforced.

 

 

Upon a
breach or threatened breach of the terms, covenants or conditions of this
Agreement by Participant, the Company shall, in addition to all other remedies,
be entitled to apply for a temporary or permanent injunction, or a decree for
specific performance, in accordance with the provisions hereof.

 

5.                                      Legend.  Each certificate evidencing any of the Shares
shall bear a legend substantially as follows:

 

“Any
sale, assignment, transfer or other disposition of, or the voting of, the
shares represented by this certificate is restricted by, and subject to, the
terms and provisions of a certain Restricted Stock Award and Agreement dated as
of           ,      .  A copy of said Agreement is on file with the
Secretary of the Corporation.”

 

6.                                      Notices.  Notices given hereunder shall be deemed to
have been duly given on the date of personal delivery or on the date of
postmark if mailed by certified or registered mail, return receipt requested,
to the party being notified at his, her or its address specified on the
signature page hereto or such other address as the addressee may
subsequently notify the other parties of in writing.

 

7.                                      Entire
Agreement and Amendments.  This
Agreement constitutes the entire agreement of the parties with respect to the
subject matter hereof and neither this Agreement nor any provision hereof may
be waived, modified, amended or terminated except by a written agreement signed
by the parties hereto.  No waiver of any
breach or default hereunder shall be considered valid unless in writing, and no
such waiver shall be deemed a waiver of any subsequent breach or default of the
same or similar nature.

 

8.                                      Governing
Law; Successors and Assigns.  This
Agreement shall be governed by the internal laws of the State of Delaware without
giving effect to the conflicts of laws principles thereof and, except as
otherwise provided herein, shall be binding upon the heirs, personal
representatives, executors, administrators, successors and assigns of the
parties.

 

9.                                      Severability.  If any provision of this Agreement shall be
held to be illegal, invalid or unenforceable, such illegality, invalidity or
unenforceability shall attach only to such provision and shall not in any
manner affect or render illegal, invalid or unenforceable any other provision
of this Agreement, and this Agreement shall be carried out as if any such
illegal, invalid or unenforceable provision were not contained herein.

 

10.                                Captions.  Captions are for convenience only and are not
deemed to be part of this Agreement.

 

11.                                Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

2

 

IN WITNESS WHEREOF, this
Agreement has been executed as of the date and year first above written.

 

	
  EMPLOYEE

  	
  BRUKER BIOSCIENCES
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Social Security No.:

  	
   

  	
   

  
									

 

Accept:     o

 

Decline:    oExhibit 10.13

 

MOSSIMO
RESTATED LICENSE AGREEMENT

 

THIS
RESTATED AGREEMENT is made and entered into as of the
31st day of March, 2006 (the “Effective Date”) by and between MOSSIMO, INC., a Delaware corporation (“Mossimo,
Inc.”) and TARGET BRANDS, INC., a
subsidiary of Target Corporation, a Minnesota corporation (“Target”).

 

RECITALS

 

A.                                   Mossimo,
Inc. and Target previously entered into an agreement dated March 28, 2000, as
amended as of February 1, 2002, as assigned and amended as of February 2, 2003,
as amended as of June 20, 2003, and as renewed by letter dated January 28, 2005
(as amended, assigned and renewed, the “Prior Agreement”).

 

B.                                     Mossimo,
Inc. is the owner of various MOSSIMO trademarks, and the goodwill associated
therewith, and has the right, power and authority to grant licenses to others
to use such trademarks in connection with the design, manufacture, importation,
distribution, marketing, advertising and sale of certain merchandise.

 

C.                                     Mossimo,
Inc. also has the right, power and authority to cause Mossimo G. Giannulli (“Giannulli”),
an employee and officer of Mossimo, Inc., to perform in the manner provided
herein in connection with the foregoing licenses.

 

D.                                    Target
is engaged in the marketing and sale of general merchandise and services.

 

E.                                      Mossimo,
Inc. and Target desire to enter into this Restated Agreement as of the
Effective Date on the terms and subject to the conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the foregoing premises
and the mutual covenants and agreements contained herein, the parties hereto
agree as follows:

 

1.                                       Definitions.   For
purposes of this Restated Agreement, the following capitalized terms shall have
the following meanings and, unless the context otherwise requires, shall
include the plural as well as the singular:

 

“Mossimo
Design Materials” mean all designs, drawings, sketches, specifications,
inventions, writings or other documentation, systems, processes, computer
programs, improvements, trade secrets, know-how or similar rights, whether or
not patentable or copyrightable, which were produced by Mossimo, Inc. in the
course of performing services under the Prior Agreement or which are produced
by Mossimo, Inc. under this Restated Agreement.

 

“Target Design
Materials” mean all designs, drawings, sketches, specifications, inventions,
writings or other documentation, systems, processes, computer programs,
improvements, trade secrets, know-how or similar rights, whether or not
patentable or

 

 

copyrightable,
which were produced by Target or its vendors under the Prior Agreement or which
are produced by Target or its vendors under this Restated Agreement.

 

“Trademarks”
mean the MOSSIMO family of trademarks listed on Exhibit A attached hereto, any
other marks incorporating the name MOSSIMO, any variations or derivations
thereof, with or without stylized designs, and all common law rights and
statutory rights with respect thereto, registrations thereof, applications
therefor and the goodwill and other rights associated therewith, whether now
existing or created hereafter.

 

“Exclusive
Merchandise” means products which fall within the Exclusive Merchandise
Categories and use the Trademarks or the Mossimo Design Materials.

 

“Exclusive
Merchandise Categories” means products which fall within the categories identified
as exclusive in Exhibit B attached hereto.

 

“Existing
Licensees” means the licensees of the Trademarks in the Territory under license
agreements outstanding as of the date hereof and identified on Exhibit C
hereto.

 

“Existing
Licensee Merchandise” means products which fall within the Exclusive Licensee
Merchandise Categories.

 

“Existing
Licensee Merchandise Categories” means products which fall within the
categories licensed to Existing Licensees and identified in Exhibit B attached
hereto.

 

“Merchandise”
means the Exclusive Merchandise and the Existing Licensee Merchandise,
collectively.

 

“Fiscal
Quarter” means Target’s fiscal quarters commencing on the first business day of
February, May, August and November each year.

 

“Net Sales”
mean the sales price to customers on all sales of Exclusive Merchandise by
Target (whether regular, markdown, clearance or otherwise), excluding sales tax
and finance charges and, less any refunds and credits for returns actually
given by Target to its customers.

 

“Retail
Operations” means Target® Stores, Target Greatland®, Super Target®, Target.com,
any other retail store operated by Target or its affiliates, and any
merchandising activities conducted by Target or its affiliates in the Territory
in connection therewith, including by way of example and not limitation, direct
mail, kiosk, internet and websites thereon, and other wireless and electronic
activities whether now known or hereafter developed.

 

“Territory”
means the United States, its territories and possessions.

 

2

 

2.                                       License Grant.

 

2.1                                 Exclusive
License.    On the terms and subject to the conditions
contained herein, Mossimo, Inc. hereby grants to Target, and Target hereby
accepts, the exclusive right and license to use the Trademarks, during the Term
(as defined below) and in the Territory, in connection with the design,
manufacture, importation, distribution, marketing, advertising, sale and offer
to sell Exclusive Merchandise.  Target
will sell and offer to sell Exclusive Merchandise only through Target’s Retail
Operations.  Mossimo, Inc. acknowledges
and understands that Target’s marketing and advertising on the Internet or
other transborder advertising will be accessible outside of the Territory, and
agrees that such activities are permissible hereunder, provided that Target
makes no sales to persons or entities outside of the Territory.

 

2.2                               Limitations.   The
foregoing license does not include the right to grant sublicenses to third
parties (except as provided herein in connection with the manufacture of
Exclusive Merchandise and Trademark Use Materials) or the right to use the
Trademarks in connection with the design, manufacture, importation,
distribution, marketing, advertising, sale of any products other than the
Merchandise in the manner provided herein.

 

2.3                               Exclusive
Right.      Target shall have the exclusive
right to use the Mossimo Design Materials in connection with the design,
manufacture, importation, distribution, marketing, advertising, sale and offer
to sell Exclusive Merchandise in the Territory. 
Target will sell and offer to sell Exclusive Merchandise only through
Target’s Retail Operations.  Mossimo,
Inc. shall have the non-exclusive right to use the Mossimo Design Materials in
connection with the design, manufacture, importation, distribution, marketing,
advertising, sale and offer to sell Exclusive Merchandise outside the Territory
provided that each such use shall be subject to Target’s prior approval, which
approval will not be unreasonably withheld.

 

2.4                               Giannulli
Identification.

 

(a)                                  Target
shall have the right to use the name, signature, photograph, voice or other
sound effects, likeness, personality, endorsement, biography and statements of
Giannulli (the “Giannulli Identification”) for advertising and promotions
relating to the Merchandise in broadcast, print, electronic and wireless media
(i.e., television, radio, magazines, newspapers and free-standing inserts),
direct mail, outdoor advertising (i.e., highway and means-of-transit
billboards), in-store signing displays, public relations materials, the
internet and websites thereon, shopping bags, in-house publications and video
programs (not for broadcast or public distribution), as well as all other
reasonable forms of advertising, whether now known and developed or developed
hereafter.

 

(b)                                 Subject
to the limitations set forth herein and the reasonable availability of
Giannulli, Mossimo, Inc. shall cause Giannulli to attend and participate in all
rehearsals, filming, taping, recording and photography sessions reasonably
required to meet the obligations set forth herein (dates and times to be agreed
upon by the parties), and will render his services hereunder in accordance with
the scripts or other materials (including,

 

3

 

but not
limited to, wardrobe suggestions) provided by Target.  Mossimo, Inc. shall cause Giannulli to render
his services in a competent and professional manner, to the best of his
ability.  Mossimo, Inc. shall cause
Giannulli to comply with Target’s reasonable instructions and recommendations
related to providing such services.

 

2.5                                 Perpetual
Right to Use.       Target retains the
perpetual right to use, solely as an historical example of its advertising, any
advertising and promotional materials produced by or for Target hereunder,
provided that such use will be exclusively for internal and/or portfolio
purposes.

 

3.                                       Services.

 

3.1                                 Mossimo,
Inc. shall cause Giannulli to provide the services of a creative director in
connection with the Exclusive Merchandise including but not limited to, the
following (collectively, the “Services”): advice regarding brand concepts,
positioning statements, themes, product and trend direction, recommendations as
to trim, fabric, materials, color, marketing and packaging and such other
related services as Target may reasonably request.

 

3.2                                 Mossimo,
Inc. shall cause Giannulli to attend and participate in a reasonable number of
business meetings, internal Target meetings, planning sessions, strategy
meetings and any other meetings related to the planning and development of the
Exclusive Merchandise, regardless of location, as requested by Target.  Mossimo, Inc. shall not be required to cause
Giannulli to attend more than four (4) such
meetings each Contract Year during the Term in Minneapolis, Minnesota.

 

4.                                       Term.

 

4.1                                 Initial
Term.   The initial term of this Restated Agreement
commenced on the Effective Date and, unless sooner terminated as provided
herein, shall continue until January 31, 2010 (the “Restated Initial Term”).

 

4.2                                 Extended
Terms.     Provided that Target is current in its
payments of the Annual Guaranteed Minimum Fee (as defined below), Target shall
be entitled to renew this Restated Agreement thereafter, on the same terms and
conditions, for additional terms of two (2) years each (each, a “Restated
Extended Term”) by giving Mossimo, Inc. written notice of its intent to renew
at least one (1) year prior to the end of the then current Term.  The “Term” of this Restated Agreement shall
be deemed to include the Restated Initial Term and all Restated Extended Terms,
if any.  A “Contract Year” shall be
deemed to refer to each period commencing February 1 and ending January 31
during the Term of the Restated Agreement.

 

4

 

5.                                       Payments.

 

5.1                                 Fee.   During
the Term of the Restated Agreement, in consideration of the rights granted to
Target and the representations and warranties contained herein, Target shall
pay to Mossimo, Inc. as a Fee an amount equal to the greater of (a) the Annual
Guaranteed Minimum Fee applicable to such Contract Year; or (b) the applicable
percentage of Net Sales for such Contract Year based on the following schedule
(the “Fee”):

 

•                  Four
percent (4%) of Net Sales on sales of Exclusive Merchandise for such Contract
Year up to $100,000,000;

 

•                  Two
and one-quarter percent (2 1/4%) of Net sales on sales of Exclusive
Merchandise for such Contract Year greater than $100,000,000 up to
$500,000,000; and

 

•                  One
percent (1%) of Net Sales on sales of Exclusive Merchandise, for such Contract
Year greater than $500,000,000.

 

5.2                                 Minimum
Fees.      Target guarantees Mossimo, Inc.
that during the Term of the Restated Agreement, annual Net Sales shall be not
less than $350,000,000 for each Contract Year (“Minimum Net Sales”).  In the event that actual annual Net Sales are
less than the Minimum Net Sales, Target shall pay to Mossimo, Inc. the
difference between the Fees actually earned for such Contract Year and the Fees
that would have been earned based on the Minimum Net Sales (the “Annual
Guaranteed Minimum Fee”).  The Annual
Guaranteed Minimum Fee shall be $9,625,000 for each Contract Year during the
Term of the Restated Agreement.

 

5.3                                 One
Time Reduction In Fees.   Mossimo, Inc. will pay to Target a
one-time, nonrefundable reimbursement of Fees in the amount of $6,000,000 on or
before June 30, 2006.

 

5.4                                 Charge-Back
Against Fees.   Beginning with the Contract Year commencing
February 1, 2007, Target shall charge-back and offset against the Fees
otherwise due under this Agreement (including the Annual Guaranteed Minimum
Fee) an amount equal to 40 basis points against Net Sales (the “Charge-Back
Amount”).   Beginning July 1, 2006,
Mossimo, Inc. shall be entitled to invoice Target until the end of the Contract
Year 2006, and Target shall reimburse Mossimo, Inc., for its documented
out-of-pocket expenses for salaries, costs of benefits and reasonable travel
and related expenses actually incurred by Mossimo, Inc. after July 1, 2006 for
designers (other than Giannulli) creating the Mossimo Design Materials.  Mossimo, Inc. shall submit expenses and such
supporting documentation as Target may reasonably request no more often than
monthly.  Expenses which comply with the
foregoing will be paid within fifteen (15) days of receipt of such materials.

 

5.5                                 Manner
of Payment.  Twenty-Five percent (25%) of the applicable Annual
Guaranteed Minimum Fee shall accrue each Fiscal Quarter.  Within thirty (30) days of the end of the
first Fiscal Quarter of each Contract Year during the Term of the Restated
Agreement, Target shall pay to Mossimo, Inc. an amount equal to the greater of

 

5

 

(a) Fees on
Net Sales for such Fiscal Quarter calculated pursuant to Sections 5.1 and 5.2
above, or (b) 25% of the applicable Annual Guaranteed Minimum Fee.  Within thirty (30) days of the end of the
remaining Fiscal Quarters for such Contract Year, Target shall pay to Mossimo,
Inc. an amount equal to the greater of (a) the amount of the aggregate accrued
Fees payable for Net Sales from the beginning of the Contract Year to the end
of such Fiscal Quarter less the total of all Fees already paid for such
Contract Year less any applicable Charge-Back Amount, or (b) the aggregate accrued
Annual Guaranteed Minimum Fee as of the end of such Fiscal Quarter less the
total of all Fees already paid for such Contract Year less any applicable
Charge-Back Amount.  The foregoing
provisions shall apply separately to each Contract Year, such that any excess
of accrued Fees over the Annual Guaranteed Minimum Fee for any given Contract
Year shall not apply toward satisfying the Annual Guaranteed Minimum Fee for
any future Contract Year and shall not apply as a credit against Fees accruing
in any subsequent Contract Year.  For
Contract Year 2006, the Fees payable under this Agreement shall be calculated
based on Net Sales beginning February 1, 2006 notwithstanding the Effective
Date of this Agreement and such Fees shall be in lieu of any amounts that would
have been due under the Prior Agreement. 
Beginning in Contract Year 2007, the Fees payable or the applicable
Guaranteed Minimum Fee Payable in each Quarter shall be reduced by the
applicable Charge-Back Amount.

 

5.6                                 Expenses.     Each
party shall be responsible for and pay its own expenses incident to performing
hereunder, including without limitation, all travel and related expenses other
than travel and related expenses of Giannulli in connection with marketing and
promotional trips requested by Target and travel and related expenses provided
for in Section 5.4.

 

5.7                                 Prompt
Delivery.     Target acknowledges that time is of
the essence in the delivery of the payments required by this Section 5, and
agrees that interest shall accrue on all past due payments hereunder from their
respective due dates until paid at the rate of one percent (1%) per month, or
if such rate exceeds the maximum rate allowed by law, at the maximum rate
allowed by law, and shall be payable on demand.

 

6.                                       Reports, Record Keeping and Audits.

 

6.1                                 Maintenance
of Records.     During the Term of this Restated
Agreement, Target shall keep full and accurate books of account and records in
sufficient detail to show the sales of Exclusive Merchandise hereunder.  Mossimo, Inc. acknowledges and understands
that such books of account and records shall be in the form and format Target
maintains in the ordinary course of its business.  Such records shall be maintained for at least
two (2) years after the Fiscal Quarter to which such records relate.

 

6.2                                 Quarterly
Reports.    Within thirty (30) days of the end of each
Fiscal Quarter during the Term of this Restated Agreement, Target shall prepare
for its own use and the use of its auditors as provided in Section 6.3 written
reports showing all sales of Exclusive Merchandise by the Retail Operations
during such Fiscal Quarter with such detail as Target has historically provided
under the Prior Agreement (the “Target

 

6

 

Reports”).  Within thirty (30) days of the end of each
Fiscal Quarter during the Term of this Restated Agreement, Target shall provide
Mossimo, Inc. with written reports based on the Target Reports specifying the
aggregate quarterly Net Sales, the aggregate quarterly royalty, the aggregate
year to date Net Sales and the aggregate year to date royalties (the “Mossimo
Reports”).  Target shall provide to
Mossimo, Inc. no later than 15 days after the end of any month, aggregate sales
information relating to the sale of Exclusive Merchandise during that
immediately preceding month.

 

6.3                                 Audits.       During
the Term of this Restated Agreement and for a period of one (1) year
thereafter, Mossimo, Inc. shall have the right, upon written notice, to require
Target to retain an independent third party auditor, reasonably acceptable to
Mossimo, Inc., to examine Target’s books of account and records as are
necessary to determine whether Fee payments have been accurately calculated and
paid hereunder. The third party auditor shall only reveal to Mossimo, Inc.
whether the Fee payments have been accurately calculated and paid or, if not,
the total Net Sales and the amount of the Fee payments that should have been
paid. The cost of such audit shall be borne by Mossimo, Inc.  Mossimo, Inc. shall not have the right to
have an audit conducted more than once with respect any Contract Year, and in
no event shall such audit occur during Target’s fourth Fiscal Quarter.  If the audit discloses that the Fee payments
actually due exceed the Fee payments made, Target shall pay the unpaid Fee with
interest computed as provided above for late payments.  If the audit discloses that the Fee payments
made by Target exceed the Fee payments due, Mossimo, Inc. shall reimburse
Target in the amount of such excess.  In
addition, if the audit discloses that the Fee payments actually due exceed the
Fee payments made by an amount greater than five percent (5%), the
out-of-pocket costs incurred by Mossimo, Inc. in connection with the audit
shall be paid by Target.

 

7.                                       Standards of Quality.

 

7.1.                              Enhancement
of Trademarks;  Quality. Target acknowledges that the Trademarks
have established prestige and goodwill and are well recognized in the minds of
the public, and that it is of great importance to each party that in the
manufacture and sale of the Merchandise the high standards and reputation that
Mossimo, Inc. has established be maintained. 
Accordingly, the Exclusive Merchandise and any expression by Target,
directly or indirectly, which by its nature conveys to others the existence of a
relationship between Target and the Trademarks or the Exclusive Merchandise,
including, without limitation, all packaging, labeling, fixturing, advertising,
point of sale and sales promotion materials and product literature (any such
expression referred to as “Trademark Use Materials”) shall (a) meet or exceed
the quality and workmanship historically provided under the Prior Agreement
and; (b) be in accordance with all of the terms and provisions of this Restated
Agreement

 

7.2.                              Manufacture
of Exclusive Merchandise.     Target shall have
the right to contract the manufacture of the Exclusive Merchandise and the
Trademark Use Materials bearing the Trademarks and utilizing the Mossimo Design
Materials to third party manufacturers anywhere in the world, provided that (a)
the manufacturer and any of its

 

7

 

subcontractors
sign a Manufacturer’s Trademark Agreement with Target containing comparable
trademark protections for Mossimo, Inc. to the agreements being used under the
Prior Agreement; and (b) the Exclusive Merchandise and Trademark Use Materials
are of a quality that meets or exceeds the quality historically provided under
the Prior Agreement.

 

7.3                                 Sampling
Process.    If
requested by Mossimo, Inc., Target will make available to Giannulli or another
representative of Mossimo, Inc., acceptable to Target, at one or more of Target’s
facilities, representative samples of the Exclusive Merchandise to enable
Mossimo, Inc. to confirm that the quality standards are being satisfied.  If Mossimo, Inc. believes that any of the
Exclusive Merchandise does not meet the quality standards referenced in Section
7.1, then the parties will in good faith discuss Mossimo, Inc.’s concerns and
work to put in place a plan to ensure that the Exclusive Merchandise meets such
quality standards.

 

8.                                       Existing Licensees; Duval Endorsement Agreement; and
Nature of Exclusivity.

 

8.1                                 Sale
of Existing Licensee Merchandise.     Mossimo,
Inc. acknowledges that Target’s Net Sales of Existing Licensee Merchandise
shall be excluded from any calculation of Fees due pursuant to Section 5 above
but shall apply toward satisfying the Annual Guaranteed Minimum Fee for each
Contract Year.

 

8.2                                 Right
of First Refusal.       At such time as
the license agreements with the Existing Licensees, as they relate to the
Territory, expire or terminate for any reason whatsoever or Mossimo, Inc. has
the unilateral right to terminate or not renew or extend such agreements,
Target shall have a right of first refusal to add all or some of the affected
Existing Licensee Merchandise Categories to the Exclusive Merchandise
Categories hereunder.

 

8.3                                 Duval
Endorsement Agreement.     Mossimo, Inc.
represents to Target that it has entered into an exclusive endorsement
agreement dated January 1, 2000 (the “Endorsement Agreement”) with David Duval,
a highly skilled professional golfer. 
Mossimo, Inc. agrees that, during the Term, it shall use its rights
under the Endorsement Agreement to use the Duval Identification (as such term
is defined in the Endorsement Agreement) in connection with the advertisement
and promotion of the Exclusive Merchandise as reasonably requested by
Target.  Mossimo, Inc. further agrees
that if Target desires to utilize the services of David Duval as a model or for
personal appearances in connection with Target’s advertising to promote the
Exclusive Merchandise, Mossimo, Inc. shall use its best efforts to cause Duval
to provide such services under the Endorsement Agreement at no additional
charge to Target.  Mossimo, Inc.
acknowledges and agrees that Target has no responsibility, liability or
obligations, whether for payment or otherwise, under the Endorsement Agreement.

 

8.4                                 Nature
of Exclusivity.      Mossimo, Inc. agrees
that, during the Term and in the Territory, it will not, and it will cause
Giannulli to not, directly or indirectly, authorize the use of the Trademarks,
the Mossimo Design Materials or the Giannulli

 

8

 

Identification
or provide design services to or enter into a design agreement or relationship
with any other retailer, manufacturer or distributor relating to the Exclusive
Merchandise Categories without the prior written consent of Target, except (a)
as may be necessary to enable Mossimo, Inc. to meet its obligations under
license agreements with Existing Licensees outstanding as of the date hereof,
(b) for the design, manufacture, distribution and sale of merchandise to golf
pro shops located on the premises of golf courses or country clubs and commonly
referred to as “green grass” shops (c) Giannulli may provide design services to
Modern Amusements, Inc. or its successors, or to third parties not described in
the next succeeding sentence provided any designs or products produced from
such efforts are not directly or indirectly marketed or publicized as being the
result of Giannulli’s efforts or as associated with Giannulli .  Notwithstanding the foregoing, in no event
shall Mossimo, Inc. or Giannulli, directly or indirectly, authorize the use of the
Trademarks, the Mossimo Design Materials or the Giannulli Identification or
provide design services to or enter into a design agreement or relationship,
with any entities in the following channels of trade: mass merchandising
discount stores or super centers (e.g., Wal-Mart and K-Mart (including any
entity resulting from the merger of K-Mart and Sears), warehouse clubs (e.g.,
Costco and Sam’s Club), mid-tier department stores (e.g., J.C. Penney, Sears
(including any entity resulting from the merger of K-Mart and Sears), Kohl’s
and Mervyn’s), national apparel chains (e.g., The Limited and The Gap family of
stores), any department stores operated by Federated, Inc. or any affiliates,
successors or assigns of the foregoing.

 

9.                                       Representations and Warranties; Protection of
Trademarks.

 

9.1                                 Mossimo,
Inc. hereby represents and warrants that:

 

(a)                                  Mossimo,
Inc. is free to enter into this Restated Agreement to grant the rights herein
granted, and to provide services herein described without violating the rights of
any third party, and is not subject to any obligation or disability which will
or might hinder or prevent the full completion and performance by Mossimo, Inc.
of all of the covenants and conditions to be kept and performed by Mossimo,
Inc. hereunder;

 

(b)                                 Mossimo,
Inc. will comply with all laws, regulations, orders and ordinances applicable
to the provision of Services as set forth herein;

 

(c)                                  At
no time during the Term will Mossimo, Inc. or Giannulli disparage their
association with Target, any Retail Operation or Target product; and

 

(d)                                 Giannulli
has irrevocably granted to Mossimo, Inc. the rights to use the Giannulli
Identification consistent with the rights granted to Target hereunder and
Mossimo, Inc. will not alter those rights in a manner that would be adverse to
Target.

 

9.2                                 Target
hereby represents and warrants that:

 

(a)                                  Target
is free to enter into this Restated Agreement and to grant the rights herein
granted without violating the rights of any third party, is not subject to any
obligation which will or might hinder or prevent the full completion and
performance

 

9

 

by Target of
all of the covenants and conditions to be kept and performed by Target
hereunder;

 

(b)                                 Target
will comply with all laws, regulations, orders and ordinances applicable to the
performance of its obligations as set forth herein; and

 

(c)                                  At
no time during the Term, will Target disparage its association with Mossimo,
Inc., Giannulli or their affiliates.

 

9.3                                 Acknowledgements
and Agreements Regarding the Trademarks.     As a
material inducement for each party to enter into this Restated Agreement, and
as a material part of the consideration to each party hereunder, each party
hereby acknowledges and agrees, solely for the benefit of the other party, as
follows :

 

(a)                                  Mossimo,
Inc. owns the Trademarks and all rights, registrations, applications and
filings with respect to the Trademarks and all renewals and extensions of any
such registrations, applications and filings.

 

(b)                                 Mossimo,
Inc. has the right to license the Trademarks to Target in the manner set forth
herein.

 

(c)                                  Target
is acquiring hereby only the right to use the Trademarks for the purpose stated
in and pursuant to the terms and conditions of this Restated Agreement.

 

(d)                                 Great
value is placed on the Trademarks, and the goodwill associated therewith; the
Trademarks and all rights therein and goodwill pertaining thereto belong
exclusively to Mossimo, Inc.; and all use of the Trademarks by Target, whether
authorized or unauthorized, shall inure to the benefit of Mossimo, Inc..

 

(e)                                  Except
for the Trademarks and Giannulli Identification, Target shall own all right,
title and interest in and to the Trademark Use Materials produced by or for it
hereunder, including, but not limited to, any artwork developed in connection
therewith (and copyrights therein), to the extent that such rights can be
separated from the Trademarks and/or Giannulli Identification and are not
confusingly similar thereto.

 

(f)                                    The
conditions, terms, restrictions, covenants and limitations of this Restated
Agreement are necessary, equitable, reasonable and essential to assure the
consuming public that all goods sold under the Trademarks are of the same
consistently high quality.

 

10

 

9.4                                 Protection
of Trademark Rights.

 

(a)                                  Mossimo,
Inc. shall take all reasonable steps necessary to prosecute and maintain
federal registrations for the Trademarks.

 

(b)                                 Target
shall not use or permit the use of the Trademarks for any purpose or use other
than as expressly licensed under this Restated Agreement.

 

(c)                                  Target
shall cooperate fully and in good faith with Mossimo, Inc. for the purpose of
securing and preserving Mossimo, Inc.’s (or any grantee of Mossimo, Inc.’s)
rights in and to the Trademarks.  Target
shall cause to appear on and in connection with the Exclusive Merchandise and
Trademarks Use Materials such statutory trademark notices as Mossimo, Inc. may
reasonably request.

 

(d)                                 Mossimo,
Inc. shall take such action as it deems necessary or appropriate, in its
reasonable judgment, in respect of any possible infringements, claims or
actions in derogation of any Trademark by any third parties and shall inform
Target promptly after it has knowledge or becomes aware of any such
infringement, claim or action.  If
Mossimo, Inc. initiates legal proceedings on account of any such infringement
claim or action, Target shall cooperate with and assist Mossimo, Inc., at
Mossimo, Inc.’s expense, to the extent reasonably necessary to protect the
Trademarks, including without limitation, being joined as a necessary or
desirable party to such proceedings.

 

(e)                                  Target
shall promptly inform Mossimo, Inc. of any possible infringements, claims or
actions in derogation of any Trademark by any third parties of which it has
knowledge or becomes aware, and shall cooperate with Mossimo, Inc. in the
manner provided above in subsection (c).

 

(f)                                    Target
shall, upon request, supply to Mossimo, Inc. enough specimens of
advertisements, tags, labels and other use of the Trademarks as may be required
in connection with any of Mossimo, Inc.’s applications or registrations for the
Trademarks.  Target shall execute any
instrument Mossimo, Inc. shall reasonably deem necessary or desirable to record
or cancel Target as a registered user of the Trademarks.

 

(g)                                 Target
shall give prompt attention and take such actions as it deems necessary to
resolve legitimate customer complaints relating to the Merchandise which are
brought to Target’s attention.  Target
shall give Mossimo, Inc. written notice of all complaints that in Target’s
opinion are likely to result in litigation.

 

9.5                                 Acknowledgements
and Agreements Regarding Design Materials. As a material inducement for
each party to enter into this Restated Agreement, and as a material part of the
consideration to each party hereunder, each party hereby acknowledges and
agrees, solely for the benefit of the other party, as follows:

 

(a)                                  Mossimo,
Inc. owns the Mossimo Design Materials, including, but not limited to, any artwork
developed in connection therewith and copyrights therein and

 

11

 

has the right to license the Mossimo Design
Materials to Target in the manner set forth herein.

 

(b)                                 Target
is acquiring hereby only the right to use the Mossimo Design Materials for the
purposes stated in and pursuant to the terms and conditions of this Restated
Agreement.

 

(c)                                  Excluding
the Trademarks and Giannulli Identification used therein, Target owns all
right, title and interest to the Target Design Materials, including, but not
limited to, any artwork developed in connection therewith and copyrights
therein.

 

(d)                                 Mossimo,
Inc. will not use the Target Design Materials or claim any rights or title in,
or otherwise attack Target’s ownership of the Target Design Materials
(excluding therefrom, for the avoidance of doubt, the Trademarks and Giannulli
Identification).

 

10.                                 Defaults and Remedies.

 

10.1                           Defaults
by Target.    The occurrence of any one or more of the
following shall constitute a default by Target under this Restated Agreement:

 

(a)                                  Target
shall fail to make any payment or submit any report required under this
Restated Agreement when due and such failure continues for more than thirty
(30) days after written notice thereof, unless such failure cannot be cured
within such thirty (30) day period and Target shall have commenced to cure the
failure within such period and proceeds diligently thereafter to cure such
failure, provided that, with respect to payments due hereunder, such failure is
cured in any event within sixty (60) days after such written notice.

 

(b)                                 Target
uses the Trademarks in any manner likely to deceive or mislead the public, to
endanger the validity of the Trademarks or to damage or impair the reputation
or value of the Trademarks and such use continues for more than thirty (30)
days after written notice thereof, unless such use cannot be cured within such
thirty (30) day period and Target shall have commenced to cure the use and
proceeds diligently thereafter to stop such use, provided that such use is
discontinued in any event within sixty (60) days after such written notice.

 

(c)                                  The
failure of Target to perform any of its other material obligations under this
Restated Agreement and such failure continues for more than thirty (30) days
after written notice thereof, unless such failure cannot be cured within such
thirty (30) day period and Target shall have commenced to cure the failure and
proceeds diligently thereafter to cure such failure; provided that such failure
is cured in any event within sixty (60) days after such written notice.

 

10.2                           Defaults
by Mossimo, Inc.    If Mossimo, Inc. fails to perform
any of its material obligations under this Restated Agreement and such failure
continues for more than thirty (30) days after written notice thereof, unless
such failure cannot be cured

 

12

 

within such
thirty (30) day period and Mossimo, Inc. shall have commenced to cure the
failure and proceeds diligently thereafter to cure such failure; provided that
such failure is cured in any event within sixty (60) days after such written
notice.

 

10.3                           Remedies.

 

(a)                                  If
Target has not cured any such breach or nonperformance in accordance with
Section 10.1 above, in addition to all of the other rights and remedies
available to Mossimo, Inc., whether pursuant to the terms of this Restated
Agreement, at law, in equity, or otherwise, Mossimo, Inc. shall have the right
to terminate this Restated Agreement without further notice to Target;
provided, however, that the decision to terminate this Restated Agreement must
be exercised in writing, if at all, within thirty (30) days after the cure
period expires.

 

(b)                                 If
Mossimo, Inc. has not cured any such breach or nonperformance in accordance
with Section 10.2 above, in addition to all of the other rights and remedies
available to Target, whether pursuant to the terms of this Restated Agreement,
at law, in equity, or otherwise, Target shall have the right to terminate this
Restated Agreement without further notice to Mossimo, Inc.; provided, however,
that the decision to terminate this Restated Agreement must be exercised in
writing, if at all, within thirty (30) days after the cure period expires.

 

10.4                           Effect
of Expiration or Termination.

 

(a)                                  Except
as specifically provided herein to the contrary, upon expiration or termination
of this Restated Agreement, the rights and licenses granted herein shall
terminate and Target shall have no further right to use the Trademarks or
Trademark Use Materials in connection with the Merchandise, the Retail
Operations or otherwise.  Upon the
request of Mossimo, Inc., Target shall immediately execute without further
consideration such assignments and other instruments which may be required to
be recorded to effect the termination of the licenses and rights granted herein
(and the assignments of Target’s rights to Mossimo, Inc.).  Within thirty (30) days of the expiration or
termination of this Restated Agreement, Target shall deliver to Mossimo, Inc.
all unpaid Fees together with a final quarterly Mossimo Report covering all
sales of Merchandise from the end of the period covered by the preceding
quarterly Mossimo Report through the date of expiration or termination of this
Restated Agreement.

 

(b)                                 In
the event this Restated Agreement is terminated pursuant to Section 10.3(a),
then Target shall pay to Mossimo, Inc., within thirty (30) days of the
termination date, such Annual Guaranteed Minimum Fee as would be due for such
Contract Year, calculated in accordance with Section 5 above.  In the event this Restated Agreement is
terminated pursuant to Section 10.3(b), then Target shall have no obligation to
pay any Annual Guaranteed Minimum Fee accruing or due after the date of
expiration or termination of this Restated Agreement.

 

(c)                                  Upon
the termination or expiration of this Restated Agreement by Mossimo, Inc. or
Target, for any reason whatsoever, Target shall have six (6) months

 

13

 

from the date
of termination or expiration of this Restated Agreement (the “Termination Date”)
in which to use the Trademarks to dispose of any Merchandise manufactured, or
ordered and in production, and any piece goods in the possession of Target, its
agents, manufacturers or subcontractors, on the Termination Date (the “Sell-Off
Period”).  Such disposition must be
through the same channels used by Target prior to the Termination Date.  In addition, Target shall destroy or deliver
to Mossimo, Inc. all Trademark Use Materials within thirty (30) days of the
expiration of the Sell-Off Period other than such materials as Target desires
to keep for the purposes set forth in Section 2.5 above.

 

11.                                                                                 Morals.       If
Giannulli is (a) charged with, convicted of or admits to the commission of any
felony, (b) charged with or convicted of any offense involving substance abuse,
or (c) publicly admits that he is addicted to any illegal controlled substance,
or (d) commits any act which brings Giannulli into public disrepute, scandal,
contempt or ridicule, or which shocks, insults or offends a substantial portion
or identifiable group of the community, and such event or behavior has, in
Target’s reasonable judgment, a negative impact on its reputation, then Target,
in addition to and without prejudice to any other remedy of any kind or nature
set forth herein, shall have the right to terminate this Restated Agreement and
neither party shall have any obligation to perform hereunder after the
effective date of such termination, including, without limitation, the payment
by Target of any portion of the Annual Guaranteed Minimum Fee coming due after
the effective date of such termination. 
Target’s reasonable decision based upon relevant facts and circumstances
on all matters arising under this Section 11 shall be conclusive, provided that
Target’s intent to terminate this Restated Agreement must be exercised in
writing, if at all, within thirty (30) days after the facts giving rise to such
right to terminate are brought to Target’s attention.

 

12.                                 Services Unique.     Mossimo,
Inc. and Target agree that the services to be performed by Giannulli hereunder
are special, unique, unusual, extraordinary, and of an intellectual character
giving them a peculiar value, the loss of which cannot be reasonably or adequately
compensated in damages in an action at law. 
Accordingly, the parties agree that Target shall be entitled, in the
event of a material failure by Giannulli to perform such services or to
otherwise permit Target to use the Giannulli Identification in the manner
required hereunder, to seek equitable relief by injunction or otherwise in
addition to whatever other remedies Target may have.  Mossimo, Inc. further agrees that in the
event of the unavailability of Giannulli’s services to Mossimo, Inc. or the death
or permanent disability of Giannulli, Target shall have the right to terminate
this Restated Agreement by written notice to Mossimo, Inc.

 

13.                                 No Assignment.     The
parties acknowledge and agree that the rights granted herein are personal in
nature and may not, in whole or in part, be transferred, delegated or assigned
by either party without the prior written consent of the other party; provided,
however, that Mossimo, Inc. may assign its right to receive payment(s)
hereunder.  Any purported transfer,
delegation or assignment, whether voluntary or involuntarily, by operation of
law or otherwise, in violation of this Section shall be null and void and
constitute a default hereunder by the party attempting to so transfer, delegate
or assign.

 

14

 

Target
acknowledges and agrees that a change in control of Mossimo, Inc. (including a
change of control resulting from a merger in which Mossimo Inc. merges with
another entity). shall not constitute an assignment.  Notwithstanding the foregoing or the
provisions of Section 5.2, in the event that Mossimo, Inc. becomes directly or
indirectly controlled by any of the entities identified in the last sentence of
Section 8.4, the Minimum Net Sales and the Annual Guaranteed Minimum Fee
thereafter shall be zero dollars and Target shall have no obligation, implied
or otherwise, to generate Net Sales during the Term of this Agreement
(including any renewal thereof).

 

14.                                 Indemnification and Insurance.

 

14.1                           Indemnification
of Mossimo, Inc.    Target shall indemnify and hold
Mossimo, Inc. and its affiliates, directors, officers, employees and agents
(the “Mossimo, Inc. Parties”) harmless from and against any and all
liabilities, losses, claims, suits, damages, costs and expenses (including,
without limitation, reasonable attorneys’ fees and expenses) arising out of or
otherwise relating to any claims of third parties against any of the Mossimo,
Inc. Parties relating to a breach by Target of any warranty, representation,
term or condition made or agreed to by Target hereunder or involving the
manufacture, packaging, distribution, promotion, sale, marketing, advertising
or other use of the Trademarks, the Target Design Materials, the Exclusive
Merchandise or the Trademark Use Materials, provided that (a) prompt written
notice is given to Target upon Mossimo, Inc. becoming aware of any such actual
or threatened claims or suits; (b) Target shall have the option to exclusively
undertake and conduct the defense and/or settlement of any such claims or
suits; and (c) no settlement or attempt at settlement of any such claims or
suits is made without the prior written consent of Target; and provided
further, that in no event shall Target’s liability hereunder exceed the amount
of Fees actually paid by Target hereunder for the previous twelve (12)
months.  Mossimo, Inc. acknowledges that
this indemnity does not include those items for which Mossimo, Inc. is
indemnifying Target in Section 14.2 below.

 

14.2                           Indemnification
of Target.    Mossimo, Inc. shall defend, indemnify and
hold Target and its affiliates, directors, officers, employees, and agents (the
“Target Parties”) harmless from and against any liabilities, losses, claims,
suits, damages, costs and expenses (including without limitation, reasonable
attorneys’ fees and expenses), arising out of or otherwise relating to any
claims of third parties against any of the Target Parties relating to a breach
by Mossimo, Inc. of any warranty, representation, term or condition made or
agreed to by Mossimo, Inc. hereunder or alleging trademark infringement, unfair
competition or infringement of other similar proprietary rights, arising out of
the use by Target and/or its contractors of the Trademarks or the Mossimo
Design Materials as authorized in the Prior Agreement or this Restated
Agreement, provided that (a) prompt written notice is given to Mossimo,
Inc. of any such actual or threatened claims or suits; (b) Mossimo, Inc.
shall have the option to exclusively undertake and conduct the defense and/or
settlement of any such claims or suits; and (c) no settlement or attempt
at settlement of any such claims or suits is made without the prior written
consent of Mossimo, Inc., and provided further, that in no event shall Mossimo
Inc.’s liability hereunder exceed the amount of Fees actually received by
Mossimo Inc. hereunder for the previous twelve (12) months.  Target acknowledges that

 

15

 

this indemnity
does not include those items for which Target is indemnifying Mossimo, Inc. in
Section 14.1 above.

 

14.3                           Insurance.

 

(a)                                  Target
shall maintain throughout the Term, at its own expense, general liability
insurance and product liability insurance, with a responsible insurance carrier
or carriers providing adequate protection (at least in the amount of $5,000,000
single limits for personal injury or property damage, with no deductible) and
covering Mossimo, Inc. as an additional insured.  Upon request, Target shall provide Mossimo,
Inc. with evidence of such insurance.

 

(b)                                 Mossimo,
Inc. shall obtain and maintain throughout the Term, at its own expense,
insurance providing adequate protection for any infringement claims (at least
in the amount of $1,000,000 single limits with customary deductibles) and
naming the Target Parties as additional insureds.  Upon request, Mossimo, Inc. shall deliver to
Target a fully paid certificate or certificates of insurance, naming the Target
Parties as additional insureds, and providing that such policy or policies are
cancelable only after thirty (30) days prior written notice to Target.

 

15.                                 Confidentiality.      The
parties acknowledge and agree that any and all reports and financial
information disclosed by a party pursuant to this Restated Agreement are
confidential information commercially valuable to such party (the “Confidential
Information”).  The parties acknowledge
that Confidential Information is disclosed hereunder on a confidential basis to
be used only as expressly permitted by the disclosing party.  Each receiving party, its officers,
directors, employees, and agents, shall protect the Confidential Information
belonging to the other party and shall not disclose it to any other person,
firm, organization, or employee unless authorized, in writing, by the
disclosing party or required by governmental or judicial law regulation or
ruling, including pursuant to subpoena or other court or administrative
process.  Except as expressly permitted
hereunder, the Confidential Information may not be copied, reprinted,
duplicated, or recreated in whole or in part without the express written
consent of the disclosing party.  Each
receiving party shall take responsibility for action by instruction, agreement
or otherwise with respect to its employees or other persons permitted access to
the Confidential Information to comply fully with the obligations hereunder
with respect thereto.  The parties each
agree to return the Confidential Information belonging to the other party, and
all copies thereof, to the disclosing party, upon request.  Each party hereby consents to the disclosure
of its Confidential Information to any of the other party’s attorneys,
accountants and similar third parties who have a business “need to know” such
information.

 

16.                                 Public Announcements and Press Releases.      The
timing and content of all public announcements and press releases relating to
this Agreement and the transactions contemplated herein shall be subject to the
mutual approval of Mossimo, Inc. and Target, except to the extent disclosure
may be required under applicable regulations of the Securities and Exchange
Commission or any applicable exchange. 
In the event of any such required disclosure, the party required to make
such disclosure will to the extent

 

16

 

practicable
consult with the other party prior to making such disclosure.  If this Agreement is required to be filed by
either party with the Securities and Exchange Commission, the party required to
make such filing will, if requested by the other party, request confidential
treatment for such portions of this Agreement as reasonably requested by the
other party and undertake reasonable efforts to obtain such confidential
treatment.

 

17.                                 General Provisions.

 

17.1                           Notices.      All
notices and other communications required or permitted to be given under this
Restated Agreement shall be in writing and shall be delivered either by
personal service, facsimile or prepaid overnight courier service and addressed
as follows:

 

	
  If to
  Mossimo, Inc.:

  	
   

  	
  Mossimo,
  Inc.

  2016 Broadway

  Santa Monica, CA 90404

  Attn.: Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
  If to
  Target:

  	
   

  	
  Target
  Corporation

   

  1000 Nicollet Mall

  Minneapolis, MN 55403

  Attn: SVP, Softlines

  
	
   

  	
   

  	
   

  
	
  With a
  copy to:

  	
   

  	
  Target
  Law Department

  1000 Nicollet Mall,
  TPS-3255

  Minneapolis, MN 55403

  Attn: General Counsel

  

 

If delivered
personally, such notices or other communications shall be deemed delivered upon
delivery.  If sent by fax, such notice or
other communications shall be deemed delivered when received provided that the
sender has confirmation of receipt.  If
sent by prepaid overnight courier service, such notices or other communications
shall be deemed delivered upon delivery or refusal to accept delivery as
indicated on the return receipt.  Either
party may change its address at any time by written notice to the other party
as set forth above.

 

17.2                           Entire
Agreement.    This Restated Agreement and the exhibits
attached hereto set forth the entire agreement and understanding between the
parties with respect to the subject matter hereof and supersedes any and all
prior negotiations, discussions and agreements relating to the subject matter
hereof.  No representations, express or
implied, other than those specifically set forth herein have been made by any
party hereto.  This Restated Agreement
may not be orally changed, altered, modified or amended in any respect.  Notwithstanding the foregoing, this Restated
Agreement shall not affect any rights or obligations under the Prior Agreement
to the extent attributable to actions or

 

17

 

omissions
prior to the Effective Date of this Agreement (other than the payment of Fees
for Contract Year 2006 which are exclusively governed by this Restated
Agreement).

 

17.3                           Successors
and Assigns.     Without limiting anything herein
to the contrary, this Restated Agreement shall be binding upon and shall inure
to the benefit of the successors and permitted assigns of the parties.

 

17.4                           Choice
of Law.     The validity, construction and
enforcement of this Restated Agreement shall be governed by the laws of the
State of Minnesota, without regard to its choice of law principles.

 

17.5                           No
Waiver.    No waiver by any party hereto, whether
express or implied, of any provision of this Restated Agreement or of any
breach or default of any party, shall constitute a continuing waiver of such
provision or any other provisions of this Restated Agreement, and no such
waiver by any party shall prevent such party from acting upon the same or any
subsequent breach or default of the other party of the same or any other
provision of this Restated Agreement.

 

17.6                           Disclaimer
of Agency.      Nothing in this Restated
Agreement shall create a partnership or joint venture or establish the
relationship of principal and agent or any other relationship of a similar
nature between the parties hereto, and neither Target nor Mossimo, Inc. shall
have the power to obligate or bind the other in any manner whatsoever nor shall
Giannulli have the power to obligate or bind Target in any manner whatsoever.

 

17.7                           Counterparts. This
Restated Agreement may be executed in any number of counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

 

17.8                           Survival.      The
provisions of Sections 2.5, 5, 6, 9.1, 9.2, 9.3, 9.5, 10.4, 14, 15, 16 and this
Section 17 shall survive the expiration or termination of this Restated
Agreement.

 

18

 

IN
WITNESS WHEREOF, the parties hereto have executed this
Restated Agreement, in the manner appropriate to each, as of the day and year
first above written.

 

	
   

  	
  TARGET CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Patricia
  Adams

  	
   

  
	
   

  	
   

  	
   

  	
  SVP,
  Softlines

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TARGET BRANDS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MOSSIMO, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
							

 

The
undersigned confirms that he has read, understands and agrees to the terms and
provisions of the foregoing Restated Agreement, including without limitation,
the provision of his services and the rights granted hereunder to Target to use
the Giannulli Identification and acknowledges and agrees that the terms and
provisions hereof are binding upon his heirs, personal representatives,
successors and assigns.

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Mossimo Giannulli

  	
   

  
				

 

19

 

EXHIBIT A

 

Trademarks

 

Registrations

 

	
  Trademark

  	
   

  	
  Class

  	
   

  	
  Registration Number

  	
   

  	
  Registration Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  M IN A BOX DESIGN

  	
   

  	
  25

  	
   

  	
  1611314

  	
   

  	
  28 Aug 1990

  	
   

  
	
  MOSS

  	
   

  	
  9

  	
   

  	
  2155830

  	
   

  	
  05 May 1998

  	
   

  
	
  MOSS

  	
   

  	
  25

  	
   

  	
  2157797

  	
   

  	
  12 May 1998

  	
   

  
	
  MOSSIMO (Block)

  	
   

  	
  3

  	
   

  	
  2491176

  	
   

  	
  18 Sep 2001

  	
   

  
	
  MOSSIMO (Block)

  	
   

  	
  9

  	
   

  	
  1746343

  	
   

  	
  12 Jan 1993

  	
   

  
	
  MOSSIMO (Block)

  	
   

  	
  14

  	
   

  	
  2051272

  	
   

  	
  08 Apr 1997

  	
   

  
	
  MOSSIMO (Block)

  	
   

  	
  25

  	
   

  	
  1551068

  	
   

  	
  08 Aug 1989

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  3

  	
   

  	
  2591646

  	
   

  	
  9 Jul 2002

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  9

  	
   

  	
  2329496

  	
   

  	
  14 Mar 2000

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  14

  	
   

  	
  2053214

  	
   

  	
  15 Apr 1997

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  18

  	
   

  	
  2341551

  	
   

  	
  11 Apr 2000

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  25

  	
   

  	
  2201308

  	
   

  	
  03 Nov 1998

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  42

  	
   

  	
  1970116

  	
   

  	
  23 Apr 1996

  	
   

  
	
  MOSSIMO (Stylized)

  	
   

  	
  42

  	
   

  	
  1984437

  	
   

  	
  02 Jul 1996

  	
   

  
	
  MOSSIMO GIANNULLI

  	
   

  	
  9

  	
   

  	
  2157796

  	
   

  	
  12 May 1998

  	
   

  
	
  MOSSIMO GIANNULLI

  	
   

  	
  25

  	
   

  	
  2155829

  	
   

  	
  05 May 1998

  	
   

  

 

Applications

 

	
  Trademark

  	
   

  	
  Class

  	
   

  	
  Application Number

  	
   

  	
  Filing Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BABY MOSS

  	
   

  	
  25

  	
   

  	
  76/034442

  	
   

  	
  12 Apr 2000

  	
   

  
	
  MOSS

  	
   

  	
  4, 18

  	
   

  	
  76/056284

  	
   

  	
  24 May 2000

  	
   

  
	
  MOSS
  (divided out)

  	
   

  	
  3

  	
   

  	
  75/981026

  	
   

  	
  24 May 2000

  	
   

  

 

 

EXHIBIT B

 

Exclusive Merchandise Categories

 

Women’s:   Casual
Denim & Sportswear; Dresses; Activewear; Skiwear; Golfwear; Tenniswear;
Intimate Apparel (sleepwear, robes, loungewear, daywear, panties &
foundations).

 

Fashion
Accessories:   Jewelry; Watches;
Luggage; Handbags; Small Leather Goods; Belts; Neckwear; Hair Goods; Hats;
Rainwear; Cold Weather; Gloves; Slippers.

 

Men’s:    Casual
Denim & Sportswear; T-shirts; Swimwear; Activewear; Skiwear; Golfwear;
Tenniswear; Furnishings; Accessories (hats, belts, small leather goods).

 

Girls 0-14:  Casual
& Denim Sportswear; Dresses; Activewear; Swimwear; Furnishings; Underwear;
Fashion Accessories (cold weather accessories, slippers, accessories, handbags,
backpacks, hosiery).

 

Boys 0-20:  Casual
& Denim Sportswear; T-shirts; Activewear; Swimwear; Furnishings (sleepwear,
cold weather accessories, slippers,); Underwear.

 

Newborn &
Layette:  Boy and Girl.

 

Footwear:  Womens;
Mens; Boys; Girls.

 

Cosmetics:  Treatment;
Fragrance; Bath & Body; Lip & Nail; Cosmetic Accessories.

 

Home Textiles:  Bedding; Bath; Table Linens; Rugs. 

 

Recreation:  Luggage, Backpacks.

 

Fashion
Accessories:  Sunglasses, sport glasses and optical frames for men,
women and children, and eyeglass cases.

 

Existing Licensee Merchandise Categories

 

Women’s:  Swim
and Bodywear.

 

Men’s:  Hosiery;
Ties; Tailored clothing, including suits, sport coats, dress shirts, dress
trousers, tuxedos, tailored overcoats and casual trousers.

 

 

EXHIBIT C

 

Existing Licensees in the Territory

 

Lunada Bay Corporation

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]