Document:

REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
      dated
      as of February 15, 2007, is made by and among NexCen Brands, Inc., a Delaware
      corporation (the “Company”),
      and
      those stockholders listed on Exhibit
      A and Exhibit B
      hereto
      (collectively and together with any permitted assigns, the “Stockholders”).

     

    WHEREAS,
      the Company, Blass Acquisition Corp., a Delaware corporation (“Jeans”),
      Haresh T. Tharani, Mahesh T. Tharani and Michael Groveman, Bill Blass Holding
      Co., Inc., a Delaware corporation (“Holding”),
      Bill
      Blass International LLC, a Delaware limited liability company, and Bill Blass
      Licensing Co., Inc., a New York corporation, have entered into that certain
      Stock Purchase Agreement, dated as of December 19, 2006 (the “Purchase
      Agreement”),
      pursuant to which the Stockholders have agreed to sell 100% of the issued and
      outstanding shares of capital stock of Holding to Jeans in exchange for which,
      as
      part
      of the consideration, the Stockholders received shares of common stock, par
      value $0.01 per share, of the Company; 

     

    WHEREAS,
      at Closing (as defined in the Purchase Agreement), the Company shall issue
      a
      Warrant to Designer Equity Holding Company, LLC (“Designer
      Equity”),
      which
      shall be exercisable for up to 400,000 shares (subject to adjustment) of the
      Company’s common stock (“Designer
      Equity Warrant Shares”);
      

     

    WHEREAS,
      on the terms and conditions set forth in the Purchase Agreement, the Company
      has
      agreed to grant to the Stockholders certain registration rights with respect
      to
      the shares of its common stock, par value $0.01 per share, issuable to certain
      Stockholders pursuant to the Purchase Agreement; and

     

    WHEREAS,
      the Company has agreed to grant to Designer Equity certain registration rights
      with respect to the shares of its common stock, par value $0.01 per share,
      issuable to Designer Equity upon exercise of that certain Warrant, as set forth
      herein.

     

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

     

    1.  Definitions.
      All
      capitalized terms used but not defined herein shall have the meanings given
      to
      such terms in the Purchase Agreement. For the purposes of this Agreement, the
      following terms shall have the respective meanings set forth below or elsewhere
      in this Agreement as referred to below:

     

    “Additional
      Shares”
shall
      mean those shares of Common Stock issued in satisfaction of the Earn-Out Payment
      as and to the extent provided in Section 2.5 of the Purchase
      Agreement.

     

    “Business
      Day”
shall
      mean any day that is not a Saturday, a Sunday or a legal holiday in the State
      of
      New York.

     

    “Blass
      Stockholders”
shall
      mean, at the relevant time of reference thereto, those Stockholders holding,
      in
      the aggregate, fifty percent (50%) of the Registrable Securities then
      outstanding and then held by those Stockholders listed on Exhibit
      A.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Closing
      Shares”
shall
      mean those shares of Common Stock issued to certain Stockholders upon the
      Closing (including the Escrow Shares).

     

    “Commission”
shall
      mean the Securities and Exchange Commission or any other federal agency at
      the
      time administering the Securities Act.

     

    “Common
      Stock”
shall
      mean common stock, par value $0.01 per share, of the Company.

     

    “Designer
      Equity Warrant Shares”
shall
      mean those shares of Common Stock issued to Designer Equity upon exercise of
      that certain Warrant.

     

    “Designer
      Stockholders”
shall
      mean, at the relevant time of reference thereto, Designer Equity to the extent
      it holds Registrable Securities.

     

    “Exchange
      Act”
shall
      mean the Securities Exchange Act of 1934, as amended and in effect from time
      to
      time.

     

    “Prospectus”
means
      the prospectus (including any preliminary prospectus and/or any final prospectus
      filed pursuant to Rule 424(b) under the Securities Act and any prospectus that
      discloses information previously omitted from a prospectus filed as part of
      an
      effective registration statement in reliance on Rule 430A, Rule 430B or Rule
      430C under the Securities Act) included in a Registration Statement, as amended
      or supplemented by any prospectus supplement or any Issuer Free Writing
      Prospectus (as defined in Rule 433(h) under the Securities Act) with respect
      to
      the terms of the offering or any portion of the Registrable Securities covered
      by such Registration Statement and by all other amendments and supplements
      to
      such prospectus, including all material incorporated by reference in such
      prospectus and all documents filed after the date of such prospectus by the
      Company under the Exchange Act and incorporated by reference
      therein. 

     

    “Registrable
      Securities”
shall
      mean, collectively, the Closing Shares and Additional Shares issued to certain
      Stockholders pursuant to the Purchase Agreement and the Designer Equity Warrant
      Shares, and
      any
      other securities issued or issuable with respect to the Closing Shares,
      Additional Shares and Designer Equity Warrant Shares by way of stock dividend
      or
      stock split or in connection with a combination of shares, recapitalization,
      merger, consolidation or other reorganization or otherwise;
      provided,
      however,
      that
      such Closing Shares, Additional Shares and Designer Equity Warrant Shares shall
      cease to be Registrable Securities for purposes of this Agreement when it no
      longer is a Restricted Security.

     

    “Required
      Stockholders”
shall
      mean the Blass Stockholders and the Designer Stockholders, as
      applicable.

     

    “Restricted
      Security”
or
      “Restricted
      Securities”
means
      any share of Common Stock except any that (i) has been registered pursuant
      to an
      effective registration statement under the Securities Act and sold in a manner
      contemplated by the prospectus included in such registration statement; (ii)
      has
      been transferred by the Stockholders in compliance with the resale provisions
      of
      Rule 144 under the Securities Act (or any successor provision thereto) or is
      transferable by the Stockholders pursuant to paragraph (k) of Rule 144 under
      the
      Securities Act (or any successor provision thereto); or (iii) otherwise has
      been
      transferred by the Stockholders and a new certificate representing a share
      of
      Common Stock not subject to transfer restrictions under the Securities Act
      has
      been delivered by or on behalf of the Company.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Securities
      Act”
shall
      mean the Securities Act of 1933, as amended and in effect from time to
      time.

     

    2.  Registration
      and Sale.

     

    (a)  Registration
      and Sale.
      Subject
      to the limitations set forth in this Section 2(a) and Sections 2(c) and 7(i)
      below, the Company shall file within 180 days (the “Filing
      Date”)
      of the
      Closing Date, a Registration Statement on Form S-3 (or comparable or successor
      form) under the Securities Act to register for resale all Registrable Securities
      (other than the Additional Shares) (a “Registration
      Statement”),
      unless
      (i) the Company is unable to do so as a result of the Commission being unable
      to
      accept such filing due to no fault of the Company or (ii) the Company has made
      a
      reasonable good faith effort to file a Registration Statement within the time
      period specified but is unable to make the filing as of the specified date
      as a
      result of circumstances beyond the Company’s reasonable control.
      The
      Company shall use its reasonable best efforts to cause each Registration
      Statement to become effective as soon as possible after filing and to remain
      effective for the period ending on the earlier of (x) the Termination Date
      (as
      defined below) and (y) the date on which there are no Registrable Securities
      covered by the Registration Statement, provided that the Company shall not
      be
      required to maintain the effectiveness of a Registration Statement to the extent
      that a subsequently filed Registration Statement registers the resale of the
      Registrable Securities.

     

    (b)  The
      Registration Statement shall be filed as a "shelf" registration statement
      pursuant to Rule 415 under the Securities Act (or any successor rule) and shall
      cover the disposition of all Registrable Securities covered by the Registration
      Statement in one or more underwritten offerings, block transactions, broker
      transactions, at-market transactions and in such other manner or manners as
      may
      reasonably be specified by the Required Stockholders. The Company shall use
      its
      reasonable best efforts to keep such Registration Statement continuously
      effective (in accordance with the last sentence of Section 2(a)), and in
      furtherance of such obligation, shall supplement or amend such Registration
      Statement if, as and when required by the rules, regulations and instructions
      applicable to the form used by the Company for such registration or by the
      Securities Act or by any other rules and regulations thereunder applicable
      to
      shelf registrations.

     

    (c)  Black-Out
      Periods.

     

    (i)  Notwithstanding
      anything to the contrary in this Agreement, if at any time after the filing
      of
      the Registration Statement, the Company, by written notice to the Stockholders
      (a “Suspension
      Notice”),
      may
      direct the Stockholders to suspend sales of the Registrable Securities pursuant
      to a Registration Statement for such times as the Company reasonably may
      determine is necessary and advisable (but in no event for more than (x) an
      aggregate of ninety (90) days in any rolling twelve (12)- month period
      commencing on the date of this Agreement or (y) more than sixty (60) days in
      any
      rolling 90-day period), if any of the following events shall occur: (1) a
      majority of the Board of Directors of the Company shall have determined in
      good
      faith that (A) the offer or sale of any Registrable Securities would materially
      impede, delay or interfere with any proposed financing, offer or sale of
      securities, acquisition, merger, tender offer, business combination, corporate
      reorganization or other significant transaction involving the Company or (B)
      after the advice of counsel, the sale of Registrable Securities pursuant to
      the
      Registration Statement would require disclosure of non-public material
      information not otherwise required to be disclosed under applicable law, and
      (C)
      (x) the Company has a bona fide business purpose for preserving the
      confidentiality of the proposed transaction, (y) disclosure would have a
      material adverse effect on the Company or the Company’s ability to consummate
      the proposed transaction, or (z) the proposed transaction renders the Company
      unable to comply with Commission requirements, in each case under circumstances
      that would make it impractical or inadvisable to cause the Registration
      Statement (or such filings) to become effective or to promptly amend or
      supplement the Registration Statement on a post-effective basis, as applicable;
      or (2) a majority of the Board of Directors of the Company shall have determined
      in good faith, after the advice of counsel, that the Company is required by
      law,
      rule or regulation or that it is in the best interests of the Company to
      supplement the Registration Statement or file a post-effective amendment to
      the
      Registration Statement in order to incorporate information into the Registration
      Statement for the purpose of (A) including in the Registration Statement any
      prospectus required under Section 10(a)(3) of the Securities Act; (B) reflecting
      in the prospectus included in the Registration Statement any facts or events
      arising after the effective date of the Registration Statement (or of the most
      recent post-effective amendment) that, individually or in the aggregate,
      represents a fundamental change in the information set forth therein; or (C)
      including in the prospectus included in the Registration Statement any material
      information with respect to the plan of distribution not disclosed in the
      Registration Statement or any material change to such information. Any period
      in
      which the use of the Registration Statement has been suspended in accordance
      with this Section 2(c) is sometimes referred to herein as a “Blackout
      Period.”
Upon
      the occurrence of any such suspension, the Company shall use its commercially
      reasonable efforts to cause the Registration Statement to become effective
      or to
      promptly amend or supplement the Registration Statement on a post-effective
      basis or to take such action as is necessary to make resumed use of the
      Registration Statement compatible with the Company’s best interests, as
      applicable, so as to permit the Stockholders to resume sales of the Registrable
      Securities as soon as possible.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (ii)  The
      Stockholders shall not effect any sales of the Registrable Securities pursuant
      to such Registration Statement (or such filings) at any time after they have
      received a Suspension Notice from the Company and prior to receipt of an End
      of
      Suspension Notice (as defined below). If so directed by the Company, the
      Stockholders will deliver to the Company all copies (other than permanent file
      copies) then in the Stockholders’ possession of the prospectus covering the
      Registrable Securities at the time of receipt of the Suspension Notice. The
      Stockholders may recommence effecting sales of the Registrable Securities
      pursuant to the Registration Statement (or such filings) following further
      notice to such effect (an “End
      of
      Suspension Notice”)
      from
      the Company, which End of Suspension Notice shall be given by the Company to
      the
      Stockholders in the manner described above promptly following the conclusion
      of
      any Suspension Event and its effect. Until the End of Suspension Notice is
      so
      given to the Stockholders, the Company’s obligations under Section 3 to update
      or keep current the Registration Statement and the Stockholders’ right to sell
      Registrable Securities pursuant to the Registration Statement shall be
      suspended, provided that such suspension shall not exceed the periods specified
      in Section 2(c)(i) above.

     

    (d)  The
      Company shall be entitled to include in the Registration Statement filed or
      to
      be filed by the Company pursuant to Section 2(a) above shares of the capital
      stock of the Company to be sold by the Company for its own account or for the
      account of any other stockholders of the Company except as and to the extent
      that such inclusion would reduce the number of Registrable Securities registered
      on such Registration Statement.

     

    3.  Further
      Obligations of the Company.
      In
      connection with the Registration Statement, the Company agrees that it shall
      also use its best efforts to do the following as expeditiously as commercially
      reasonable:

     

    (a) prepare
      and file with the Commission such amendments and post-effective amendments
      to
      the Registration Statement and the prospectus used in connection therewith
      as
      may be necessary under applicable law to keep such Registration Statement
      effective for the applicable period; and cause each Prospectus to be
      supplemented by any required prospectus supplement or Issuer Free Writing
      Prospectus (as defined in Rule 433(h) under the Securities Act), and cause
      the
      Prospectus as so supplemented or any such Issuer Free Writing Prospectus, as
      the
      case may be, to be filed pursuant to Rule 424 or Rule 433, respectively (or
      any
      similar provision then in force) under the Securities Act and to comply with
      the
      provisions of the Securities Act, the Exchange Act and the rules and regulations
      applicable to it with respect to the disposition of all Registrable Securities
      covered by the Registration Statement in accordance with each Stockholder’s
      intended method of disposition set forth in the Registration
      Statement;

     

    (b) furnish
      to each Stockholder offering Registrable Securities under the Registration
      Statement (A) after the same is prepared and publicly distributed, filed with
      the Commission, or received by the Company, one copy of the Registration
      Statement, each Prospectus,
      each
      Issuer Free Writing Prospectus, and each amendment or supplement to any of
      the
      foregoing, and (B) such number of copies of the Prospectus, each Issuer Free
      Writing Prospectus, and all amendments and supplements thereto, as the
      Stockholders may reasonably request to facilitate the disposition of the
      Registrable Securities owned by the Stockholders;

     

    (c) register
      or qualify the Registrable Securities covered by the Registration Statement
      under the securities or “blue sky” laws of such jurisdictions within the United
      States as each Stockholder shall reasonably request unless an available
      exemption to such registration or qualification requirements is then available;
      provided
      that the
      Company shall not be obligated to register or qualify such Registrable
      Securities in any jurisdiction in which such registration or qualification
      would
      require the Company (A) to subject itself to general taxation in any such
      jurisdiction, (B) file any general consent to service of process, or (C) to
      qualify to do business in any jurisdiction where it would not otherwise be
      required to qualify but for this Section 3(c);

     

    (d) timely
      file with the Commission such information as the Commission may prescribe under
      Sections 13 or 15(d) of the Exchange Act, and otherwise use commercially
      reasonable efforts to ensure that the public information requirements of Rule
      144 under the Securities Act are satisfied with respect to the
      Company;

     

    (e) notify
      the Stockholders promptly in writing (A) of any comments by the Commission
      with
      respect to the Registration Statement or the Prospectus, or any request by
      the
      Commission for the amending or supplementing thereof or for additional
      information with respect thereto, (B) of the issuance by the Commission of
      any
      stop order or other suspension of the effectiveness of the Registration
      Statement which is known to the Company or the initiation of any proceedings
      for
      that purpose which are known to the Company and (C) of the receipt by the
      Company of any notification with respect to the suspension of the qualification
      of such Registrable Securities for sale in any jurisdiction or the initiation
      or
      threatening of any proceeding for such purposes; and

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (f) as
      promptly as practicable after becoming aware of such event, notify the
      Stockholders of the occurrence of any event of which the Company has knowledge,
      as a result of which the Prospectus included in the Registration Statement,
      as
      then in effect, or any Issuer Free Writing Prospectus, taken as a whole with
      the
      Prospectus, includes an untrue statement of a material fact or omits to state
      a
      material fact required to be stated therein or necessary to make the statements
      therein, in light of the circumstances under which they were made, not
      misleading, and to use its commercially reasonable efforts to promptly prepare
      an amendment to the Registration Statement and supplement to the Prospectus
      to
      correct such untrue statement or omission, and deliver a number of copies of
      such supplement or amendment to the Stockholders as the Stockholders may
      reasonably request.

     

    4.  Obligations
      of the Stockholders.
      In connection with the registration of the Registrable Securities, the
      Stockholders shall have the following obligations:

     

    (a)  It
      shall
      be a condition precedent to the obligations of the Company to complete the
      registration pursuant to this Agreement of the Registrable Securities of each
      Stockholder that such Stockholder shall furnish to the Company in writing such
      information regarding itself, the Registrable Securities held by it, and the
      intended method of disposition of the Registrable Securities held by it, as
      shall be reasonably required to effect the registration of such Registrable
      Securities, and such Stockholder shall execute such documents in connection
      with
      such registration as the Company may reasonably request. 

     

    (b)  The
      Stockholder, by such Stockholder’s acceptance of the Registrable Securities,
      agrees to cooperate with the Company as reasonably requested by the Company
      in
      connection with the preparation and filing of the Registration Statement
      hereunder, unless such Stockholder has notified the Company in writing of such
      Stockholder’s election to exclude all of such Stockholder’s Registrable
      Securities from the Registration Statement.

     

    (c)  The
      Stockholders shall not prepare or use any Free Writing Prospectus (as such
      term
      is defined in Rule 405 under the Securities Act) unless any and all issuer
      information included therein has been approved by the Company.

     

    (d)  As
      promptly as practicable after becoming aware of such event, the Stockholders
      shall notify the Company of the occurrence of any event, as a result of which
      the Prospectus included in a Registration Statement, as then in effect, includes
      an untrue statement of a material fact or omits to state a material fact
      required to be stated therein or necessary to make the statements therein,
      in
      light of the circumstances under which they were made, not
      misleading.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (e)  Each
      Stockholder agrees that, upon receipt of any notice from the Company of the
      happening of any event of the kind described in Sections 3(e)(B), 3(e)(C) or
      3(f) above, such Stockholder shall immediately discontinue its disposition
      of
      Registrable Securities pursuant to the Registration Statement and, if so
      directed by the Company, the Stockholder shall deliver to the Company or destroy
      (and deliver to the Company a certificate of destruction) all copies (other
      than
      permanent file copies) in the Stockholder’s possession of the Prospectus
      covering such Registrable Securities current at the time of receipt of such
      notice.

     

    (f)  Each
      Stockholder shall take all other reasonable actions necessary to expedite and
      facilitate the disposition by the Stockholder of the Registrable Securities
      pursuant to the Registration Statement.

     

    (g)  The
      Stockholders hereby covenant and agree that they will comply with any prospectus
      delivery requirements of the Securities Act applicable to them in connection
      with sales of Registrable Securities pursuant to the Registration
      Statement.

     

    5.  Expenses.
      

     

    All
      expenses incurred by the Company in complying with its obligations under this
      Agreement shall be paid by the Company, except that the Company shall not be
      liable for any fees, discounts or commissions to any underwriter or any fees
      or
      disbursements of counsel for any Stockholder, in either case in respect of
      the
      Registrable Securities sold by any Stockholders.

     

    6.  Indemnification
      and Contribution.

     

    (a)  Indemnification
      by the Company.
      If any
      Registrable Securities are registered for resale under the Securities Act
      pursuant to this Agreement, the Company shall indemnify and hold harmless each
      Stockholder of such Registrable Securities and such Stockholder’s directors,
      officers, employees and agents, against any losses, claims, damages, liabilities
      or expenses, joint or several, to which such Stockholder or any such director,
      officer, employee or agent may become subject under the Securities Act or any
      other statute or at common law, insofar as such losses, claims, damages,
      liabilities or expenses (or actions in respect thereof) arise out of or are
      based upon (i) any untrue statement of any material fact contained, on the
      effective date thereof, in the registration statement under which such
      Registrable Securities were registered under the Securities Act or any final
      prospectus contained therein (in each case as amended or supplemented, including
      without limitation, any update pursuant to Rule 424(b) under the Securities
      Act), provided that such final prospectus was used to effect a sale by such
      Stockholder. (ii) the omission or alleged omission to state therein a material
      fact required to be stated therein or necessary to make the statements therein
      not misleading or, with respect to any prospectus, necessary to make the
      statements therein in light of the circumstances under which they were made
      not
      misleading, or (iii) any violation by the Company of the Securities Act or
      state
      securities or blue sky laws applicable to the Company and relating to any action
      or inaction required of the Company in connection with such registration or
      qualification under such state securities or blue sky laws; provided,
      however,
      that
      the Company shall not be liable in any such case to the extent that any such
      loss, claim, damage, liability or expense arises out of or is based upon any
      untrue statement or alleged untrue statement or any omission or alleged omission
      made in such registration statement, final prospectus, or amendment or
      supplement in reliance upon and in conformity with written information furnished
      to the Company by such Stockholder specifically for use in such registration
      statement, prospectus, or amendment or supplement. Such indemnity shall remain
      in full force and effect regardless of any investigation made by or on behalf
      of
      such Stockholder or such director, officer, employee or agent.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (b)  Stockholders’
      Indemnification.
      In
      connection with the Registration Statement, each such Stockholder will furnish
      to the Company such information as shall reasonably be requested by the Company
      for use in such registration statement or prospectus and shall severally, and
      not jointly, indemnify, to the extent permitted by law, the Company, its
      directors, officers, employees and agents against any losses, claims, damages,
      liabilities and expenses (under the Securities Act, at common law or otherwise),
      insofar as such losses, claims, damages, liabilities or expenses arise out
      of or
      are based upon any untrue statement or alleged untrue statement of a material
      fact contained on the effective date thereof in the Registration Statement,
      or
      any final prospectus included therein (in each case as amended or supplemented,
      including without limitation, any update pursuant to Rule 424(b) under the
      Securities Act), but only to the extent that such untrue statement of a material
      fact is contained in, or such material fact is omitted from, written information
      furnished by such Stockholder, specifically for use in such registration
      statement or prospectus; provided,
      however,
      that
      the obligations of such Stockholders hereunder shall be limited to an amount
      equal to the proceeds to each Stockholder of Registrable Securities sold in
      connection with such registration.

     

    (c)  Indemnification
      Procedures.
      Promptly after receipt by an indemnified party hereunder of notice of the
      commencement of any action, such indemnified party shall, if a claim in respect
      thereof is to be made against the indemnifying party hereunder, notify the
      indemnifying party in writing thereof (an “Indemnification
      Notice”),
      but
      the omission so to notify the indemnifying party shall not relieve it from
      any
      liability which it may have to any indemnified party unless the indemnifying
      party is materially and adversely affected thereby. In case any such action
      shall be brought against any indemnified party and it shall notify the
      indemnifying party of the commencement thereof, the indemnifying party shall
      be
      entitled to participate in and, to the extent it shall wish, to assume and
      undertake the defense thereof and, after notice from the indemnifying party
      to
      such indemnified party of its election so to assume and undertake the defense
      thereof, the indemnifying party shall not be liable to such indemnified party
      under this Section 6(c) for any legal expenses subsequently incurred by such
      indemnified party in connection with the defense thereof. Notwithstanding the
      foregoing, the indemnified party shall have the right to employ its own counsel
      at its expense unless (i) the employment of such counsel shall have been
      authorized in writing by the indemnifying party or (ii) the attorneys for the
      indemnifying party shall have concluded that there are defenses available to
      the
      indemnified party that are different from or additional to those available
      to
      the indemnifying party and such counsel reasonably concludes that it is
      therefore unable to represent the interests of both the indemnified and
      indemnifying party (in which case the indemnifying party may employ separate
      counsel). In no event shall the indemnifying party be liable for fees and
      expenses of more than one counsel separate from its own counsel.

     

    (d)  In
      order
      to provide for just and equitable contribution to joint liability under the
      Securities Act in any case in which either (i) any holder of Registrable
      Securities exercising rights under this Agreement, or any controlling person
      of
      any such holder, makes a claim for indemnification pursuant to this Section
      6
      but it is judicially determined (by the entry of a final judgment or decree
      by a
      court of competent jurisdiction and the expiration of time to appeal or the
      denial of the last right of appeal) that such indemnification may not be
      enforced in such case notwithstanding the fact that this Section 6 provides
      for
      indemnification in such case, or (ii) contribution under the Securities Act
      may
      be required on the part of any such selling holder or any such controlling
      person in circumstances for which indemnification is provided under this Section
      6; then, and in each such case, the Company and such holder will contribute
      to
      the aggregate losses, claims, damages or liabilities to which they may be
      subject (after contribution from others) in such proportion so that such holder
      is responsible for the portion represented by the percentage that the public
      offering price of its Registrable Securities offered by the registration
      statement bears to the public offering price of all securities offered by such
      registration statement, and the Company is responsible for the remaining
      portion; provided, however, that, in any such case, (A) no such holder will
      be
      required to contribute any amount in excess of the net proceeds received by
      such
      holder from the sale of such Registrable Securities offered by it pursuant
      to
      such registration statement; and (B) no person or entity guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      will be entitled to contribution from any person or entity who was not guilty
      of
      such fraudulent misrepresentation. 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    7.  Miscellaneous.
      

     

    (a)  Notices.
      All
      notices and other communications pursuant to this Agreement shall be in writing,
      either hand delivered or sent by certified or registered mail with charges
      prepaid or by commercial courier guaranteeing next business day delivery, or
      sent by facsimile, and shall be addressed:

     

    (i)  in
      the
      case of the Company, to the Company at its principal office set forth in the
      Purchase Agreement; and

     

    (ii)  in
      the
      case of a Stockholder, to the address provided by such Stockholder to the
      Company.

     

    Any
      notice or other communication pursuant to this Agreement shall be deemed to
      have
      been duly given or made and to have become effective (i) when delivered in
      hand
      to the party to which it was directed, (ii) if sent by facsimile and properly
      addressed in accordance with the foregoing provisions of this Section 7(a),
      when
      received by the addressee, (iii) if sent by commercial courier guaranteeing
      next
      business day delivery, on the business day following the date of delivery to
      such courier, or (iv) if sent by first-class mail, postage prepaid, and properly
      addressed in accordance with the foregoing provisions of this Section 7(a),
      (A)
      when received by the addressee, or (B) on the third business day following
      the
      day of dispatch thereof, whichever of (A) or (B) shall be the
      earlier.

     

    (b)  Assignment.
      The
      right
      to have the Company register Registrable Securities pursuant to this Agreement
      may be assigned or transferred only with the prior written consent of the
      Company
      (such
      consent not to be unreasonably withheld, conditioned or delayed), and any such
      assignment or transfer without such consent shall be void and of no effect.
      In
      the event of any such permitted assignment or transfer by any Stockholder to
      any
      permitted transferee of all or any portion of such Registrable Securities,
      such
      transfer will be allowed only if: (a) the Stockholder agrees in writing with
      the
      transferee or assignee to assign such rights, and a copy of such agreement
      is
      furnished to the Company within a reasonable time after such assignment, (b)
      the
      Company is, within a reasonable time after such transfer or assignment,
      furnished with written notice of (i) the name and address of such transferee
      or
      assignee and (ii) the Registrable Securities with respect to which such
      registration rights are being transferred or assigned, (c) immediately following
      such transfer or assignment, the Registrable Securities so transferred or
      assigned to the transferee or assignee constitute Restricted Securities,
(d)
      at or
      before the time the Company received the written notice contemplated by clause
      (b) of this sentence the transferee or assignee agrees in writing with the
      Company to be bound by all of the provisions contained herein, and (e) the
      Company is furnished with an opinion of counsel, which counsel and opinion
      shall
      be satisfactory to the Company, to the effect that the permitted assignment
      would be in compliance with the Securities Act and any applicable state or
      other
      securities laws.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (c)  Amendment
      and Waiver.
      This
      Agreement may not be amended except by an instrument in writing signed by the
      Company and by the Blass Stockholders. Any Stockholder may waive any of its,
      his
      or her rights under this Agreement (including, without limitation, such
      Stockholder’s right to cause any other Person to comply with such other Person’s
      obligations under this Agreement) only by an instrument in writing signed by
      such Stockholder; provided,
      however,
      that
      (i) any rights under this Agreement which inure to the benefit of any and all
      Stockholders (including, without limitation, the right of any and all
      Stockholders to cause any other Person to comply with such other Person’s
      obligations under this Agreement) may be waived on behalf of any and all
      Stockholders by an instrument in writing signed by the Blass Stockholders.
      Any
      waiver, pursuant to this Subsection 7(c), of a breach of this Agreement shall
      not operate or be construed as a waiver of any subsequent breach.

     

    (d)  Governing
      Law; Headings.
      This
      agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware without regard to conflict of law provisions of such state.
      The headings in this Agreement are for convenience only and shall not affect
      the
      construction hereof.

     

    (e)  Severability.
      In the
      event that any provision of this Agreement shall be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions shall not in any way be affected or impaired thereby.

     

    (f)  Entire
      Agreement.
      This
      Agreement is intended by the parties as a final expression of their agreement
      and intended to be a complete and exclusive statement of the agreement and
      understanding of the parties hereto in respect of the subject matter contained
      herein and therein. This Agreement and the Purchase Agreement supersede all
      prior agreements and understandings between the parties with respect to the
      subject matter contained herein and therein.

     

    (g)  Effect
      of Breach; Remedies.
      Notwithstanding anything to the contrary in this Agreement, a breach by the
      Stockholders listed on Exhibit B of their obligations hereunder shall not
      release the Company from its obligations hereunder with respect to the
      Stockholders listed on Exhibit A. Correspondingly, a breach by the Stockholders
      listed on Exhibit A of their obligations hereunder shall not release the Company
      from its obligations hereunder with respect to Designer Equity. 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (h)  Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original, and it shall not be necessary in making proof of this
      Agreement to produce or account for more than one such counterpart.

     

    (i)  Termination
      of Registration Rights.
      All of
      the Company's obligations to register Registrable Securities covered by a
      Registration Statement (including without limitation to keep the Registration
      Statement covering such Registrable Securities effective) shall terminate,
      if
      not previously terminated pursuant to the terms of Section 2(a), upon the
      earlier of two (2) years from the date of the effectiveness of such Registration
      Statement and such date that each Stockholder may sell all of the Registrable
      Securities held by such Stockholder within a three-month period in accordance
      with Rule 144(d) (the “Termination
      Date”).

     

    Remainder
      of page intentionally left blank

    
      
        
        

      

      
        10

        
          

        

      

       

    

    IN
      WITNESS WHEREOF,
      the
      Company and the Stockholders have executed this Agreement as of the date first
      above written.

     

    
      	 	 	 
	 	NEXCEN
              BRANDS, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Robert
              W.
              D’Loren
	 	
              

              Name:

              Title:

            

    

     

    
      	 	 	 	 
	 	 	 	/s/ Haresh
              T.
              Tharani
	
            	 	 	
              
HARESH
              T.
              THARANI

    

     

    
      	 	 	 	 
	 	 	 	/s/ Haresh
              T.
              Tharani
	
            	 	 	
              
MAHESH
              T.
              THARANI

    

     

    
      	 	 	 	 
	 	 	 	/s/ Michael
              Groveman
	
            	 	 	
              
MICHAEL
              GROVEMAN

    

     

    
      	 	 	 
	 	
              DESIGNER
                LICENSE HOLDING COMPANY, LLC

            
	 
 	 
 	 
 
	 	By:  	/s/ Arnold
              Simon 
	 	
              

              Name: 

              Title:Unassociated Document

    Exhibit
      10.1

     

    FIRST
      UNITED CORPORATION

    CHANGE
      IN CONTROL SEVERANCE PLAN

     

    First
      United Corporation, a Maryland corporation (the “Company”). hereby adopts this
      First United Corporation Change in Control Severance Plan (the “Plan”) for the
      benefit of certain employees of the Company and its subsidiaries.  The
      Plan, as set forth herein, is intended to help retain certain executive
      officers, maintain a stable work environment and provide economic security
      to
      eligible employees in the event of certain terminations of employment.  The
      Plan is intended to be an unfunded plan maintained primarily for the purpose
      of
      providing deferred compensation for a select group of management or highly
      compensated employees and therefore exempt from Parts 2, 3 and 4 of Title I
      of
      ERISA.

     

    ARTICLE
      I. 

    DEFINITIONS

     

    As
      hereinafter used:

    

    Section
      1.1 “Affiliate”
means
      any “parent corporation” and any “subsidiary corporation” of the Company, as
      such terms are defined in Section 424 of the Code.

     

    Section
      1.2 “Agreement” 
      means the written agreement between the Company and an Eligible Employee
      pursuant to which the Company agrees to provide Change in Control Severance
      Benefits to the Eligible Employee in accordance with the Plan.  Each
      Agreement may contain such information, terms and conditions as the Plan
      Administrator in its discretion may specify, including without limitation,
      the
      following:

     

    (a) the
      effective date and duration of the Agreement;

     

    (b) the
      Change in Control Severance Benefits to which the Eligible Employee is entitled
      under the Plan and the time and manner in which such Change in Control Severance
      Benefits are to be paid; and

     

    (c) any
      other
      provisions which supplement the terms and conditions contained in the
      Plan.

     

    Section
      1.3 “Board”
means
      the Board of Directors of the Company.

     

    Section
      1.4 “Change
      in Control”
means
      the first of the following events to occur after the Effective
      Date:

     

    (a) The
      consummation of a transaction in which any “person” (as such term is used in
      Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended)
      becomes, within the 12-month period ending on the date of such person’s most
      recent acquisition, a “beneficial owner” (as defined in Rule 13d-3 under the
      Exchange Act), directly or indirectly, of securities representing more than
      20%
      of the voting power of the then outstanding securities of the Company; provided
      that a Change of Control shall not be deemed to occur as a result of a
      transaction in which the Company becomes a subsidiary of another corporation
      and
      in which the stockholders of the Company, immediately prior to the transaction,
      will beneficially own, immediately after the transaction, shares entitling
      such
      stockholders to more than 50% of all votes to which all stockholders of the
      other corporation would be entitled in the election of directors (without
      consideration of the rights of any class of stock to elect directors by a
      separate class vote); and provided further that ownership
      or control of the Company’s voting securities, individually or collectively, by
      any Affiliate that is a bank or any benefit plan sponsored by the Company or
      any
      Affiliate shall not constitute a Change of Control;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (b) The
      consummation of (1) a merger, consolidation, or similar extraordinary event
      involving the Company and another entity where the stockholders of the Company,
      immediately prior to the merger, consolidation or similar extraordinary event,
      will not beneficially own, immediately after the merger, consolidation or
      similar extraordinary event, securities entitling such stockholders to more
      than
      50% of all votes to which all stockholders of the surviving corporation would
      be
      entitled in the election of directors (without consideration of the rights
      of
      any class of stock to elect directors by a separate class vote), or (2) a sale
      or other disposition of all or substantially all of the assets of the
      Company;
      or

     

    (c) During
      any 24-month period, individuals
      who at the beginning of any such period constitute the Board cease for any
      reason to constitute at least a majority thereof, unless the election, or the
      nomination for election by the Company’s stockholders, of each director of the
      Company first elected during such period was approved by a vote of at least
      two-thirds of the directors of the Company then still in office who were
      directors of the Company at the beginning of any such period.

     

    Section
      1.5 “Change
      in Control Severance Benefits”
      means,
      with respect to each Eligible Employee, the benefits payable pursuant to the
      Eligible Employee’s Agreement.

     

    Section
      1.6 “Code”
means
      the Internal Revenue Code of 1986, as amended.

     

    Section
      1.7 “Company”
means
      First United Corporation, a Maryland corporation, and any successor
      thereto.

     

    Section
      1.8 “Effective
      Date”
means,
      with respect to each Agreement, the effective date of such
      Agreement.

     

    Section
      1.9 “Eligible
      Employee”
means
      an Executive who is designated by the Plan Administrator as eligible to
      participate in the Plan.

     

    Section
      1.10 “ERISA”
means
      the Employee Retirement Income Security Act of 1974, as amended.

     

    Section
      1.11 “Executive”
means
      a
      management or highly compensated employee of the Company or a subsidiary
      thereof.

     

    Section
      1.12 “Plan”
means
      the First United Corporation Change in Control Severance Plan, as set forth
      herein, as it may be amended from time to time.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    Section
      1.13 “Plan
      Administrator”
means
      the Compensation Committee of the Board, as appointed from time to time by
      the
      Board, or such other person or persons appointed from time to time by the
      Compensation Committee of the Board to administer the Plan.

     

    Section
      1.14 “Severance”
shall
      have the meaning given that term in the Agreement.

     

    ARTICLE
      II. 

    ELIGIBILITY
      AND PARTICIPATION

     

    Section
      2.1 The
      Plan
      Administrator, in its sole discretion, shall from time to time designate those
      Executive(s) who shall be eligible to participate in the Plan.

     

    Section
      2.2 Each
      Executive who is designated as eligible to participate in the Plan shall
      participate in the Plan by entering into an Agreement and completing such other
      forms and furnishing such other information as the Plan Administrator may
      request. An Eligible Employer’s participation in the Plan shall commence as of
      the date specified in the Agreement.

     

    ARTICLE
      III. 

    CHANGE
      IN CONTROL SEVERANCE BENEFITS

     

    Section
      3.1 Each
      Eligible Employee, subject to the terms and conditions of his or her Agreement,
      shall become entitled to receive Change in Control Severance Benefits as set
      forth in his or her Agreement.

     

    ARTICLE
      IV. 

    PLAN
      ADMINISTRATION

     

    Section
      4.1 The
      Plan
      Administrator shall administer the Plan and may interpret the Plan, prescribe,
      amend and rescind rules and regulations under the Plan and make all other
      determinations necessary or advisable for the administration of the Plan,
      subject to all of the provisions of the Plan.

     

    Section
      4.2 The
      Plan
      Administrator may delegate any of its duties hereunder to such person or persons
      from time to time as it may designate.

     

    Section
      4.3 The
      Plan
      Administrator is empowered, on behalf of the Plan, to engage accountants, legal
      counsel and such other personnel as it deems necessary or advisable to assist
      it
      in the performance of its duties under the Plan.  The functions of any such
      persons engaged by the Plan Administrator shall be limited to the specified
      services and duties for which they are engaged, and such persons shall have
      no
      other duties, obligations or responsibilities under the Plan. All reasonable
      expenses thereof shall be borne by the Company.

     

    Section
      4.4 The
      Plan
      Administrator shall not be liable for any actions by it hereunder unless due
      to
      its own gross negligence or willful misconduct, and it shall be indemnified
      and
      saved harmless by the Company from and against all personal liability to which
      it may be subject by reason of any act done or omitted to be done in its
      official capacity as Plan Administrator in good faith in the administration
      of
      the Plan, including all expenses reasonably incurred in its defense in the
      event
      the Company fails to provide such defense upon the request of the Plan
      Administrator. Except as provided in the foregoing sentence and except in
      connection with any breach of duty to Eligible Employees, the Plan Administrator
      shall be relieved of all responsibility in connection with its duties hereunder
      to the fullest extent permitted by law.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    Section
      4.5 Following
      the occurrence of a Change in Control, the Company or any successor may not
      remove from office the individual or individuals who served as Plan
      Administrator immediately prior to the Change in Control; provided, however,
      if
      any such individual ceases to be affiliated with the Company, the Company may
      appoint another individual or individuals as Plan Administrator so long as
      the
      successor Plan Administrator consists solely of an individual or individuals
      who
      either (a) were officers of the Company immediately prior to the Change in
      Control or (b) were directors of the Company immediately prior to the Change
      in
      Control and are not affiliated with the acquiring entity in the Change in
      Control.

     

    ARTICLE
      V. 

    PLAN
      AMENDMENT OR TERMINATION

     

    Section
      5.1 The
      Plan
      may not be terminated with respect to an Eligible Employee prior to the end
      of
      the term of such Eligible Employee’s Agreement without the written consent of
      the Eligible Employee. The Plan may be amended by the Board at any time;
      provided, however, that the Plan may not be amended without the written consent
      of an Eligible Employee if such amendment would in any manner adversely affect
      the interests of such Eligible Employee.  Without limiting the scope of the
      foregoing sentence, any action taken by the Company or the Plan Administrator
      to
      cause an Eligible Employee to no longer be designated as an Eligible Employee
      or
      any action taken by the Company or the Plan Administrator to decrease the
      benefits for which an Eligible Employee is eligible, and any amendment to
      Section 4.5 or this Section 5.1 following the occurrence of a Change in Control,
      shall be treated as an amendment to the Plan which adversely affects the
      interests of any Eligible Employee.

     

    Section
      5.2 Notwithstanding
      Section 5.1 or any other provision of this Plan or any Agreement to the
      contrary, the Company may amend, modify or terminate this Plan and/or any
      Agreement, without the consent of the Eligible Employee, as the Company deems
      necessary or appropriate to ensure compliance with any law, rule, regulation
      or
      other regulatory pronouncement applicable to the Plan, including, without
      limitation, Section 409A of the Code and any Treasury Regulations or other
      guidance thereunder.

     

    ARTICLE
      VI. 

    CLAIMS
      PROCEDURES

     

    Section
      6.1 Applications
      for Benefits and Inquiries. 
      Any application for benefits, inquiries about the Plan or inquiries about
      present or future rights under the Plan must be submitted to the Plan
      Administrator in writing.

     

    Section
      6.2 Denial
      of Claims. 
      In the event that any application for benefits is denied in whole or in part,
      the Plan Administrator must notify the applicant, in writing, of the denial
      of
      the application, and of the applicant’s right to review the denial.  The
      written notice of denial will be set forth in a manner designed to be understood
      by the applicant, and will include specific reasons for the denial, specific
      references to the Plan provisions upon which the denial is based, a description
      of any additional material or information necessary for the applicant to perfect
      the claim and an explanation of why such material or information is necessary,
      and an explanation of the Plan’s review procedure, including the applicant’s
      right to bring a civil action under Section 502(a) of ERISA following an adverse
      decision on review.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    This
      written notice will be given to the employee within 90 days after the Plan
      Administrator receives the application, unless special circumstances require
      an
      extension of time, in which case, the Plan Administrator has up to an additional
      90 days.  If an extension of time is required, written notice of the
      extension will be furnished to the applicant before the end of the initial
      90-day period. This notice of extension will describe the special circumstances
      necessitating the additional time and the date by which the Plan Administrator
      expects to render a decision on the application.

     

    Section
      6.3 Request
      for a Review. 
      Any person (or that person’s authorized representative) for whom an application
      for benefits is denied, in whole or in part, may appeal the denial by submitting
      a written request for a review to the Plan Administrator within 60 days after
      the application is denied.  The Plan Administrator will give the applicant
      (or his or her representative) an opportunity to review pertinent documents
      in
      preparing a request for a review and submit written comments, documents, records
      and other information relating to the claim.

     

    Section
      6.4 Decision
      on Review. 
      The Plan Administrator will provide written notice of its decision on review
      within 60 days after receipt of the request, unless special circumstances
      require an extension of time (not to exceed an additional 60 days).  If an
      extension for review is required, written notice of the extension will be
      furnished to the applicant within the initial 60-day period. This notice of
      extension will describe the special circumstances necessitating the additional
      time and the date by which the Plan Administrator expects to render a decision
      on review. In the event that the Plan Administrator confirms the denial of
      the
      application for benefits in whole or in part, the notice will outline, in a
      manner calculated to be understood by the applicant, the specific reasons for
      the decision, the specific Plan provisions upon which the decision is based,
      a
      statement that the applicant is entitled to receive, upon request and free
      of
      charge, reasonable access to, and copies of, all documents, records and other
      information relevant to the applicant’s claim for benefits, and a statement of
      the applicant’s right to bring an action under Section 502(a) of ERISA. 

     

    Section
      6.5 Rules
      and Procedures. 
      The Plan Administrator may establish rules and procedures, consistent with
      the
      Plan and with ERISA, as necessary and appropriate in carrying out its
      responsibilities in reviewing benefit claims.

    

    ARTICLE
      VII. 

    MISCELLANEOUS

     

    Section
      7.1 Except
      as
      otherwise provided herein or by law, no right or interest of any Eligible
      Employee under the Plan or any Agreement shall be assignable or transferable,
      in
      whole or in part, either directly or by operation of law or otherwise, including
      without limitation by execution, levy, garnishment, attachment, pledge or in
      any
      manner; no attempted assignment or transfer thereof shall be effective; and
      no
      right or interest of any Eligible Employee under the Plan shall be liable for,
      or subject to, any obligation or liability of such Eligible
      Employee.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    Notwithstanding
      the preceding paragraph, when a payment is due under this Plan or any Agreement
      to an Eligible Employee who is unable to care for his or her affairs, payment
      may be made directly to his or her legal guardian or personal
      representative.

     

    Section
      7.2 Neither
      the establishment of the Plan, nor any modification thereof, nor the execution
      of any Agreement, nor the creation of any fund, trust or account, nor the
      payment of any benefits shall be construed as giving any Eligible Employee,
      or
      any other person, the right to be retained in the service of the Company or
      any
      subsidiary thereof, and all Eligible Employees shall remain subject to discharge
      to the same extent as if the Plan had never been adopted.

     

    Section
      7.3 If
      any
      provision of this Plan shall be held invalid or unenforceable, such invalidity
      or unenforceability shall not affect any other provisions hereof, and this
      Plan
      shall be construed and enforced as if such provisions had not been
      included.

     

    Section
      7.4 This
      Plan
      shall inure to the benefit of and be binding upon the heirs, executors,
      administrators, successors and assigns of the parties, including each Eligible
      Employee, present and future, and any successor to the Company.  If an
      Eligible Employee incurs a Severance during the Change in Control Protection
      Period but dies before his or her Change in Control Severance Benefits have
      been
      fully paid, any unpaid amounts shall be paid to the executor, personal
      representative or administrators of the Eligible Employee’s estate in a lump sum
      payment no later than the 15th
      day of
      the third calendar month following the Eligible Employee’s death. 

     

    Section
      7.5 The
      headings and captions herein are provided for reference and convenience only,
      shall not be considered part of the Plan, and shall not be employed in the
      construction of the Plan. Capitalized terms shall have the meanings given
      herein.  Singular nouns shall be read as plural and masculine pronouns
      shall be read as feminine, and vice versa, as appropriate.

     

    Section
      7.6 It
      is the
      express intention of the Company that this Plan and all Agreements shall be
      unfunded for tax purposes and for purposes of Title I of ERISA. Eligible
      Employees shall have no right, title or interest whatsoever in or to any assets
      or amounts which are used to pay benefits under the Plan. Each Eligible Employee
      shall be required to look to the provisions of this Plan and to the Company
      itself for enforcement of any and all benefits due under this Plan, and, to
      the
      extent any such person acquires a right to receive payment under this Plan,
      such
      right shall be no greater than the right of any unsecured general creditor
      of
      the Company. Nothing contained in the Plan, and no action taken pursuant to
      its
      provisions, shall create or be construed to create a trust of any kind or a
      fiduciary relationship between the Company and any Eligible Employee or any
      other person. Without limiting the foregoing, should any investment be acquired
      in connection with the liabilities assumed under this Plan or any Agreement,
      no
      Eligible Employee shall have any right with respect to, or claim against, such
      assets nor shall any such purchase be construed to create a trust of any kind
      or
      a fiduciary relationship between the Company and any Eligible Employee or any
      other person. Any such assets shall be and remain a part of the general,
      unpledged, unrestricted assets of the Company, subject to the claims of its
      general creditors. The Company shall be designated the owner and beneficiary
      of
      any investment acquired in connection with its obligation under this
      Plan.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    Section
      7.7 Any
      notice or other communication required or permitted pursuant to the terms hereof
      shall have been duly given when delivered or mailed by United States Mail,
      first
      class, postage prepaid, addressed to the intended recipient at his, her or
      its
      last known address.

     

    Section
      7.8 This
      Plan
      shall be construed and enforced according to the laws of the State of Maryland
      to the extent not preempted by federal law without regard to any conflict of
      laws principles that would apply the law of another jurisdiction.

     

    Section
      7.9 All
      benefits hereunder shall be reduced by applicable withholding and shall be
      subject to applicable tax reporting, as determined by the Plan
      Administrator.

     

    Section
      7.10 Except
      as
      otherwise provided hereunder, all expenses incurred in the administration
      of the Plan, whether incurred by the Company or the Plan
      Administrator, shall be paid by the Company.

     

    THIS
      FIRST UNITED CORPORATION CHANGE IN CONTROL SEVERANCE PLAN is adopted
      this 14th day of February, 2007. 

     

    
      	 	 	 
	ATTEST:	FIRST
              UNITED CORPORATION
	 
 	 
 	 
 
	
              /s/

            	By:  	
              /s/
                William B.
                Grant                                               
                (SEAL)

            
	
              
 	
              Name:
                William B. Grant

              Title:
                Chairman and Chief Executive Officer

            
	 	 

    

     

    
      
        
        

      

      
        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]