Document:

Exhibit 10.1

 

CONSULTING AGREEMENT BETWEEN

TRUSTCO BANK CORP NY AND ROBERT T. CUSHING

THIS CONSULTING AGREEMENT (“Agreement”) is entered into as of the 16th day of December 2014 by and between TrustCo Bank Corp NY, a New York corporation (“TrustCo”), and Robert T. Cushing (“Cushing”). In consideration of the mutual covenants herein contained, the parties agree as follows:

1.             Term and Duties.

(a)           The term of Cushing’s engagement under this Agreement will commence on June 1, 2015 and will continue through December 31, 2015, unless sooner terminated pursuant to Section 2 or Section 5 (the “Term”).

(b)           During the Term, Cushing shall serve as a consultant to TrustCo and to each of its affiliates, rendering to TrustCo and such affiliates consulting services and advice on an as-needed basis with respect to matters pertaining to TrustCo and its affiliates. The services rendered shall be advisory only, and Cushing’s services as a consultant shall be rendered, during his lifetime, at such times and places as may be mutually convenient to TrustCo and its affiliates and Cushing. Cushing acknowledges that he will be an independent contractor only, and shall not for any purpose hereunder be considered to be an employee of TrustCo or any of its affiliates. The parties reasonably anticipate that Cushing’s level of service for TrustCo and its affiliates during the term of this Agreement will be less than eight hours per week, which is less than 20% of the average level of service provided by Cushing to TrustCo and its affiliates as Executive Vice President and Chief Financial Officer during the last 36 months of his employment by TrustCo and its affiliates.

 

(c)           Compensation. In full compensation for the services to be rendered by Cushing hereunder during the Term and for the noncompetition agreement set forth in Section 3 herein, TrustCo (a) will pay Cushing a monthly fee in the amount of $20,000, to be paid in cash on the first business day of each month during the Term and (b) will provide, at no cost, to Cushing in-kind benefits consisting of office facilities, a personal secretary, use of a vehicle, club memberships and estate planning services, each as provided by TrustCo to Cushing during the last 36 months of his employment by TrustCo and its affiliates. In the event of Cushing’s death or disability (as hereafter defined) during the Term, TrustCo’s obligations under this Section 2 shall terminate, provided that TrustCo shall be obligated to pay to Cushing’s estate or other designated beneficiary the full amount of the monthly fee, if such fee had not previously been paid, for the month in which such death or disability occurred. In no event will Cushing or his estate have the right to designate the taxable year of such payment. For purposes of this Section 2, the term “disability” means (i) Cushing is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expect to last for a continuous period of not less than 12 months or (ii) Cushing is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of TrustCo. Cushing also will be deemed to have a “disability” if determined to be totally disabled by the Social Security Administration. In addition, Cushing will be deemed to have a “disability” if determined to be disabled in accordance with a disability insurance program accepted by TrustCo, provided that the definition of disability applied under such disability insurance program complies with the requirements of this Section. To the extent that any right to reimbursement of expenses or payment of any in-kind benefit under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended), (i) any such expense reimbursement shall be made by TrustCo no later than the last day of the taxable year following the taxable year in which such expense was incurred by Cushing, (ii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit and (iii) the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided that the foregoing clause shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect

2.           Noncompetition. Cushing acknowledges that he has provided special, unique and extraordinary services to TrustCo and its affiliates during his employment with TrustCo and its bank subsidiary. Cushing agrees that he will not, during the Term, directly or indirectly, without the written consent of TrustCo:

 

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(a)           Own, have any interest in or act as an officer, director, partner, principal, employee, agent, representative, consultant to or independent contractor of a Competitor if Cushing in any such capacity performs services in an aspect of Competitor’ business which is competitive with TrustCo or an affiliate; provided, however, Cushing may invest in no more than 5% of the stock of any publicly-traded company that is a Competitor without violating this covenant;

(b)           Divert or attempt to divert to a Competitor any client, customer or account of TrustCo or an affiliate (which is a client, customer or account during the Term); or

(c)           Hire, or solicit to hire, for or on behalf of a Competitor, any employee of TrustCo or an affiliate (who is an employee of TrustCo or an affiliate as of the time of such hire or solicitation to hire) or any former employee of TrustCo or an affiliate (who was employed by TrustCo or an affiliate within the 12-month period immediately preceding the date of such hire or solicitation to hire).

(d)           For purposes of this Section 3, capitalized terms are defined as follows:

Competitor. “Competitor” shall mean any person, firm, corporation, partnership, limited liability company or any other entity doing business in the Geographic Market which, during the Term, is engaged in competition in a substantial manner with TrustCo or an affiliate of TrustCo.

Geographic Market. “Geographic Market shall mean the area within a radius of 25 miles of the location of the headquarters or any branch office of TrustCo or an affiliate.

3.            Scope of Noncompetition Provisions. If it shall be finally determined by any court of competent jurisdiction that any limitation contained in Section 3 is too extensive to be legally enforceable and must be reduced, then the parties hereby agree that such reduced limitation shall be deemed to be the maximum scope or duration which shall be legally enforceable, and Cushing hereby consents to the enforcement of such reduced limitation.

 

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4.             Termination of Contract. TrustCo may terminate this Agreement upon not less than 90 days’ prior written notice to Cushing. Upon the effective date of such termination, the parties’ obligations under this Agreement shall cease.

5.            Entire Agreement; Amendment; Governing Law. This Agreement constitutes the entire Agreement between TrustCo and Cushing and all prior understandings and agreements between them, if any, concerning the same subject matter are merged herein and thus extinguished. This Agreement may not be modified except by a writing signed by both parties. This Agreement is made under, and shall be construed in accordance with the laws of the State of New York.

6.             Separability. If any provision hereof is declared void and unenforceable by any court of competent jurisdiction, the remaining provisions hereof shall remain in full force and effect.

7.             Binding Effect. This Agreement shall be binding on the parties hereto and their respective successors, heirs and assigns upon full execution by all parties.

[signature page follows]

 

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

	 	
TRUSTCO BANK CORP NY

	 
	 	 	 	 
	 	
By:

	
/s/ Robert J. McCormick

	 
	 	
Name:

	
Robert J. McCormick

	 
	 	
Title:

	
President and Chief Executive Officer

	 	 	 	 
	 	
/s/ Robert T. Cushing

	 
	 	
Robert T. Cushing

	 

5 of 5Exhibit 10.1

 

Execution Version

 

VOTING AGREEMENT

 

This VOTING AGREEMENT
(this “Agreement”), is dated as of December 14, 2014, by and between PetSmart, Inc., a Delaware corporation
(the “Company”), Argos Holdings Inc., a Delaware corporation (“Parent”), and Longview Asset
Management, LLC, on behalf of the persons listed on Exhibit A hereto (the “Stockholder”). Capitalized
terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Draft Merger Agreement
(as defined below).

 

W I T N E S S E T H:

 

WHEREAS, the Company
is considering whether to enter into an Agreement and Plan of Merger with Parent (substantially in the form of the draft, dated
December 14, 2014, previously furnished to the Stockholder (the “Draft Merger Agreement”)) and a wholly owned
subsidiary of Parent (“Merger Sub”) (the “Merger Agreement”), providing for, among other
things, the merger of Merger Sub with and into the Company, with the Company surviving the Merger (the “Merger”).

 

WHEREAS, as of the
date hereof, each of the persons set forth on Exhibit A hereto is the record and beneficial owner of the number of shares
of Common Stock set forth opposite its name on Exhibit A hereto (together with such additional shares of Common Stock that
become beneficially owned (within the meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended)
by any such persons, whether by purchase, stock dividend, distribution, split-up, recapitalization, combination, exchange of shares
or the like, or upon the exercise of options, conversion of convertible securities or otherwise, after the date hereof, but excluding
the up to 1,542,425 shares subject to the Plan (as defined in Amendment No. 4 to the Schedule 13D filed with the Securities and
Exchange Commission on December 5, 2014 by, among others, Longview Asset Management, LLC), the “Owned Shares”).

 

WHEREAS, the Stockholder
has, and at all times will have, full power, authority and discretion to vote and dispose of the Owned Shares on behalf of the
persons set forth on Exhibit A hereto.

 

WHEREAS, the Stockholder
is party to that certain Rollover Commitment Letter, dated as of the date of the Merger Agreement, by and between the Stockholder
and Parent (the “Rollover Agreement”).

 

NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration given to each party hereto, the receipt of which is
hereby acknowledged, the parties agree as follows:

 

		1.	Agreement to Vote.

 

1.1         Agreement to
Vote.  The Stockholder hereby agrees that, from the date of execution and public announcement of the Merger Agreement until
the Termination Date (as defined below) (the “Voting Period”), at any meeting of the stockholders of the Company
at

 

    	 

    	 

    

 

which the approval and
adoption of the Merger Agreement and the transactions contemplated thereby is to be voted upon, however called, or any adjournment
or postponement thereof, or in connection with any written consent of the stockholders of the Company, the Stockholder shall be
present (in person or by proxy) (or cause to be present) and vote (or cause to be voted), or give written consent (or cause written
consent to be given), in each case to the extent entitled to vote thereon, all of the Owned Shares (a) in favor of approval and
adoption of the Merger Agreement and the transactions contemplated thereby, including the Merger and (b) against (A) any other
action, proposal, agreement or transaction made in opposition to or competition with the Merger or the Merger Agreement that is
not approved by the Board of Directors of the Company. Notwithstanding anything herein to the contrary, this Section 1.1
shall not require the Stockholder to be present (in person or by proxy) or vote (or cause to be voted) any of the Owned Shares
to amend the Merger Agreement or take any action that could result in the amendment or modification, or a waiver of a provision
therein, in any such case, in a manner that (i) decreases the amount or changes the form of the Merger Consideration, (ii) imposes
any material restrictions or additional conditions on the payment of the Merger Consideration to stockholders or (iii) extends
the End Date.

 

1.2         Other Voting
Rights.  Except as permitted by this Agreement, the Stockholder will continue to have the right to exercise all voting and disposition
rights over the Owned Shares.

 

2.           Representations
and Warranties of the Stockholder.  The Stockholder hereby represents and warrants to the Company and Parent, as of the date
of this Agreement and as of the Company Meeting, as follows:

 

2.1         Power; Due
Authorization; Binding Agreement.  The Stockholder has the requisite power and authority to execute and deliver this Agreement,
to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this
Agreement and the consummation by the Stockholder of the transactions contemplated hereby have been duly and validly authorized
by all necessary corporate or other applicable action on the part of the Stockholder, and no other proceedings on the part of the
Stockholder are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. This Agreement has
been duly and validly executed and delivered by the Stockholder and, assuming the due and valid authorization, execution and delivery
hereof by the other parties hereto, constitutes a valid and binding agreement of the Stockholder, enforceable against the Stockholder
in accordance with its terms, except that (i) such enforcement may be subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other similar Laws, now or hereafter in effect, relating to creditors’ rights generally and (ii) equitable
remedies of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to
the discretion of the court before which any proceeding therefor may be brought.

 

		2.2	Ownership of Shares; Discretionary Authority.

 

(i) Subject to any
Owned Shares Transferred pursuant to a Permitted Transfer (as defined below), the Owned Shares set forth opposite such person’s
name on Exhibit A hereto are owned beneficially by such person, free and clear of any Liens (including any restriction on
the right or power to vote, consent with respect to, or otherwise dispose of the Owned Shares, other than pursuant to this Agreement
and the power, authority and discretion of the Stockholder over such Owned Shares), except for any Liens that could not reasonably
be

 

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expected, either individually
or in the aggregate, to materially impair the ability of the Stockholder to perform fully its obligations hereunder on a timely
basis. Other than restrictions in favor of the Company pursuant to this Agreement and except for such transfer restrictions of
general applicability as may be provided under the Securities Act of 1933, as amended, or the “blue sky” Laws of the
various states of the United States, or as disclosed by the Stockholder on a Schedule 13D filed with respect to the Company, as
of the date hereof the Stockholder has, and at any stockholder meeting of the Company held during the Voting Period regarding approval
and adoption of the Merger Agreement, the Stockholder will have (except as otherwise permitted by this Agreement), sole voting
power and sole dispositive power with respect to the matters set forth in Section 1.1 in respect of all of the Owned Shares.

 

(ii) As of the date
hereof, except for the Owned Shares set forth on Exhibit A hereto, or as disclosed by the Stockholder on a Schedule 13D
filed with respect to the Company, neither the Stockholder nor any person set forth on Exhibit A hereto beneficially owns
any (a) shares of capital stock or voting securities of the Company, (b) securities of the Company convertible into or exchangeable
for shares of capital stock or voting securities of the Company or (c) options, warrants or other rights to acquire from the Company
any capital stock, voting securities or securities convertible into or exchangeable for capital stock or voting securities of the
Company, or rights the value of which is linked to the price or value of Common Stock. Except for this Agreement, the Interim Investors
Agreement, dated as of the date of the Merger Agreement, by and among the Investors (as defined therein), the Rollover Agreement
and such other agreements contemplated by or entered into in connection with, the foregoing (the “Consortium Agreements”),
none of the Owned Shares are subject to any voting trust or other agreement, arrangement, understanding or instrument with respect
to the voting of, or exercise of voting power with respect to, or the Transfer (as defined below) of, such shares.

 

(iii) For purposes
of this Agreement, to “Transfer” any securities of the Company shall mean (a) to sell, assign, transfer, pledge, encumber,
distribute, gift or otherwise dispose of (including by merger or otherwise by operation of law) such securities, (b) to tender
such securities in any tender or exchange offer, or (c) enter into any contract, option, agreement or other arrangement or understanding
with respect to any of the actions contemplated by the preceding clause (a) or (b). The term “sell,” “sale”
or any derivatives thereof shall include (x) any sale, transfer or disposition of record or beneficial ownership, or both, and
(y) any short sale with respect to Common Stock or substantially identical property, entering into or acquiring an offsetting derivative
contract with respect to Common Stock or substantially identical property, entering into or acquiring a futures or forward contract
to deliver Common Stock or substantially identical property, any transfer of economic interests in Common Stock, or entering into
any transaction that has the same effect as any of the foregoing.

 

(iv) The Stockholder has full power, authority
and discretion to vote and dispose of the Owned Shares on behalf of the persons set forth on Exhibit A hereto.

 

2.3         Non-Contravention.
 The execution and delivery of this Agreement by the Stockholder does not, and the performance by the Stockholder of its obligations
under this Agreement will not, (i) conflict with or violate any Law applicable to the Stockholder, the persons set forth on Exhibit
A hereto or by which their respective assets or properties are bound or (ii) conflict with, result in any breach of or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, or require payment under, or result in the creation of

 

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any Lien on the properties
or assets of the Stockholder or any person set forth on Exhibit A hereto pursuant to, any note, bond, mortgage, indenture,
contract, agreement, lease, license, permit, franchise or other instrument or obligation to which the Stockholder or any person
set forth on Exhibit A hereto is a party or by which the Stockholder or any person set forth on Exhibit A hereto
or any of their respective assets or properties (including any Owned Shares) is bound, except, as for any of the foregoing, as
could not reasonably be expected, either individually or in the aggregate, to materially impair the ability of the Stockholder
to perform fully its obligations hereunder on a timely basis. Except as could not reasonably be expected, either individually or
in the aggregate, to materially impair the ability of the Stockholder to perform fully its obligations hereunder on a timely basis,
the execution and delivery of this Agreement by the Stockholder does not, and the performance of this Agreement by the Stockholder
will not, require any consent, approval, authorization or permit of, or filing with or notification to, any (A) Governmental Entity,
except for filings that may be required under the Exchange Act or (B) third party (including with respect to individuals, trusts,
any co-trustee or beneficiary).

 

		3.	Representations and Warranties of the Company and Parent.

 

3.1         Representations
and Warranties of the Company.  The Company hereby represents and warrants to the Stockholder, as of the date of this Agreement
and as of the Company Meeting, as follows: (a) the Company has the requisite corporate power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby; (b) the execution
and delivery of this Agreement and the consummation by the Company of the transactions contemplated hereby have been duly and validly
authorized by all necessary corporate action on the part of the Company, and no other proceedings on the part of the Company are
necessary to authorize this Agreement or to consummate the transactions contemplated hereby; (c) this Agreement has been duly and
validly executed and delivered by the Company and, assuming the due and valid authorization, execution and delivery hereof by the
other parties hereto, constitutes a valid and binding agreement of the Company.

 

3.2         Representations and Warranties of
Parent.  Parent hereby represents and warrants to the Stockholder, as of the date of this Agreement and as of the Company Meeting,
as follows: (a) Parent has the requisite corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby; (b) the execution and delivery of this Agreement and the consummation
by Parent of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action on the
part of Parent, and no other proceedings on the part of Parent are necessary to authorize this Agreement or to consummate the transactions
contemplated hereby; (c) this Agreement has been duly and validly executed and delivered by Parent and, assuming the due and valid
authorization, execution and delivery hereof by the other parties hereto, constitutes a valid and binding agreement of Parent.

 

		4.	Certain Covenants of the Stockholder.

 

		4.1	Restriction on Transfer, Proxies and Non-Interference.

 

(i)         The Stockholder
hereby agrees, during the Voting Period, not to, directly or indirectly, (A) Transfer or agree to Transfer, cause or permit any
Transfer of, or make

 

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any offer regarding any
Transfer, any of the Owned Shares, in each case, other than any such transaction with Parent, Merger Sub or any of their respective
Affiliates, (B) grant any proxies or powers of attorney with respect to the Owned Shares, deposit any such Owned Shares into a
voting trust or enter into a voting agreement with respect to any such Owned Shares, in each case with respect to any vote on the
approval and adoption of the Merger Agreement or any other matters set forth in Section 1.1 of this Agreement, (C) make
any public statements that are inconsistent with its support of the Merger Agreement and the transactions contemplated thereby
or publicly propose to do any of the foregoing (provided that the foregoing shall in no event require the Stockholder to
make any public statements regarding the Merger Agreement and the transactions contemplated thereby other than the joint press
release of the Company and Parent announcing the signing of the Merger Agreement in accordance with Section 6.13), or (D)
commit or agree to take any of the foregoing actions. If any involuntary Transfer of any of the Owned Shares shall occur (including,
but not limited to, a sale by a Stockholder’s trustee in any bankruptcy, or a sale to a purchaser at any creditor’s
or court sale), the transferee (which term, as used herein, shall include any and all transferees and subsequent transferees of
the initial transferee) shall, to the extent permitted by applicable Law, take and hold such Owned Shares subject to all of the
restrictions, liabilities and rights under this Agreement, which shall continue in full force and effect until the valid termination
of this Agreement. Notwithstanding anything in this Agreement to the contrary, this Agreement shall not limit the Transfer of Owned
Shares to any Affiliate of any person set forth on Exhibit A hereto or any Permitted Transferee (as defined below), provided
that prior to such Transfer such Affiliate or Permitted Transferee acknowledges and agrees that the Stockholder has, and at all
times will have, full power, authority and discretion to vote and dispose of such Owned Shares (a “Permitted Transfer”).
For purposes of this Agreement, “Permitted Transferee” shall mean (1) any lineal descendant of Henry Crown or
Irving Crown, any spouse or adopted child of any such descendant, and any child of any such spouse (collectively, the “Crown
Family”); (2) a trust for the primary benefit of any member of the Crown Family; (3) the executors, administrators, or
personal representatives of any Person described in clause (1), above (but only during the period the estate of such Person is
being administered); and (4) any partnership, limited liability company, corporation or other entity (i) which is controlled,
directly or indirectly, and (ii) 100% of the equity interests in which are owned, directly or indirectly, by any one or more
of the Persons described in clauses (1)-(3) above.

 

(ii)         During the Voting Period, the Stockholder
will not, and will not permit any Person under the Stockholder’s control to, (a) solicit proxies or become a “participant”
in a “solicitation” (as such terms are defined in Rule 14a-1 under the Exchange Act) (A) with respect to an Opposing
Proposal (as defined below) or (B) seeking votes or consents against the approval or adoption of the Merger Agreement, (b) initiate
a stockholders’ vote with respect to an Opposing Proposal or (c) except by virtue of this Agreement or the Consortium Agreements,
become a member of a “group” (as such term is used in Section 13(d) of the Exchange Act) with respect to any voting
securities of the Company with respect to an Opposing Proposal. For purposes of this Agreement, the term “Opposing Proposal”
means any of the actions or proposals described in clause (b) of Section 1.1.

 

4.2        Acquisition of Additional Shares.
 During the Voting Period, the Stockholder shall notify the Company promptly in writing of the acquisition of beneficial ownership
(within the meaning of Rule 13d-3 under the Exchange Act) of additional shares of Common Stock after the date hereof, if any.

 

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4.3         Appraisal Rights.
 The Stockholder hereby agrees not to assert any rights that may arise with respect to the Merger or any of the transactions contemplated
by the Merger Agreement to demand appraisal of any Owned Shares under Section 262 of the DGCL.

 

		5.	Miscellaneous.

 

5.1         Termination
of this Agreement.  This Agreement, and all obligations, terms and conditions contained herein, shall automatically terminate
without any further action required by any person upon the earliest to occur of: (i) the termination of the Merger Agreement in
accordance with its terms; (ii) the termination of this Agreement by the mutual written consent of the Company, Parent and the
Stockholder (iii) the Effective Time; (iv) a Change of Recommendation; and (v) the making of any change, by amendment, waiver or
other modification to any provision of the Merger Agreement that decreases the amount or changes the form of the Merger Consideration
(the “Termination Date”).

 

5.2         Effect of Termination.
 In the event of termination of this Agreement pursuant to Section 5.1, this Agreement shall become void and of no effect
with no liability on the part of any party hereto; provided, however, no such termination shall relieve any party
hereto from any liability for any willful and intentional breach of this Agreement occurring prior to such termination and the
provisions of this Article 5 shall survive any such termination.

 

5.3         Entire Agreement;
Assignment.  This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and
supersedes all other prior agreements and understandings, both written and oral, among the parties with respect to the subject
matter hereof. Other than as set forth in Section 5.4, nothing in this Agreement, express or implied, is intended to or
shall confer upon any person other than the parties hereto any right, benefit or remedy of any nature whatsoever under or by reason
of this Agreement. This Agreement shall not be assigned by operation of law or otherwise and shall be binding upon and inure solely
to the benefit of each party hereto.

 

5.4         Amendments;
No Third Party Beneficiaries.  This Agreement may not be modified, amended, altered or supplemented, except upon the execution
and delivery of a written agreement executed by each of the parties hereto. The parties hereto hereby agree that their respective
representations, warranties, covenants and agreements set forth herein are solely for the benefit of the other parties hereto,
in accordance with and subject to the terms of this Agreement, and this Agreement is not intended to, and does not, confer upon
any person or entity other than the parties hereto any rights or remedies hereunder, including the right to rely upon the representations
and warranties set forth herein.

 

5.5         Notices.
 Any notice required to be given hereunder shall be sufficient if in writing, and sent by email transmission, by reliable overnight
delivery service (with proof of service), hand delivery or certified or registered mail (return receipt requested and first-class
postage prepaid), addressed as follows:

 

			If to the Stockholder:

 

Longview Asset Management, LLC

222 N. LaSalle St., Suite 2000

Chicago, IL 60601

Phone: (312) 236-6300

 

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Fax: 312-395-7067

Attention: Aaron Rappaport

Email: arappaport@crown-chicago.com

 

with a copy to:

 

Skadden, Arps, Slate, Meagher &
Flom LLP

155 N. Wacker Drive, Suite 2700

Chicago, IL 60606

Phone: 312-407-0700

Fax: 312-407-0411

Attention: Rodd M. Schreiber

Email: rodd.schreiber@skadden.com

 

And

 

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, NY 10036

Phone: 212-735-3000

Fax: 212-735-2000

Attention: Ann Beth Stebbins

Email: annbeth.stebbins@skadden.com

 

If to the Company:

 

PetSmart, Inc.

19601 N. 27th Avenue

Phoenix, AZ 85027

Email:   pdodson@ssg.petsmart.com

Attention:    Paulette Dodson

 

with a copy to:

 

Wachtell, Lipton, Rosen & Katz

51 West 52nd Street

New York, New York 10019

Email:  mgordon@wlrk.com

Attn:  Mark Gordon

 

If to Parent:

 

Argos Holdings Inc.

c/o BC Partners, Inc.

667 Madison Avenue, 19th Floor

New York, NY 10065

Facsimile: (212) 891-2899

Email: Raymond.Svider@bcpartners.com

Attention: Raymond Svider

 

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with a copy to:

 

Simpson Thacher and Bartlett LLP

425 Lexington Avenue

New York, NY 10017

Facsimile: (212) 455-2502

Attention: Ryerson Symons

 

or to such other address as any party shall
specify by written notice so given, and such notice shall be deemed to have been delivered as of the date so telecommunicated,
personally delivered or received. Any party to this Agreement may notify any other party of any changes to the address or any of
the other details specified in this paragraph; provided, however, that such notification shall only be effective
on the date specified in such notice or two (2) Business Days after the notice is given, whichever is later. Rejection or other
refusal to accept or the inability to deliver because of changed address of which no notice was given shall be deemed to be receipt
of the notice as of the date of such rejection, refusal or inability to deliver.

 

		5.6	Governing Law; Venue; Waiver of Jury Trial.

 

(a)           This Agreement and all disputes
or controversies arising out of or relating to this Agreement or the transactions contemplated hereby shall be governed by, and
construed in accordance with, the internal Laws of the State of Delaware, without regard to the Laws of any other jurisdiction
that might be applied because of the conflicts of Laws principles of the State of Delaware.

 

(b)           Each of the parties irrevocably
agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any party against any other
party shall be brought and determined in the Court of Chancery of the State of Delaware, provided that if jurisdiction is
not then available in the Court of Chancery of the State of Delaware, then any such legal action or proceeding may be brought in
any federal court located in the State of Delaware. Each of the parties hereby irrevocably submits to the jurisdiction of the aforesaid
courts for itself and with respect to its property, generally and unconditionally, with regard to any such action or proceeding
arising out of or relating to this Agreement and the transactions contemplated hereby. Each of the parties agrees not to commence
any action, suit or proceeding relating thereto except in the courts described above in Delaware, other than actions in any court
of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware. Each of the parties
further agrees that notice as provided herein shall constitute sufficient service of process and the parties further waive any
argument that such service is insufficient. Each of the parties hereby irrevocably and unconditionally waives, and agrees not to
assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to
this Agreement or the transactions contemplated hereby, (A) any claim that it is not personally subject to the jurisdiction of
the courts in Delaware as described herein for any reason, (B) that it or its property is exempt or immune from jurisdiction of
any such court or from any legal process commenced in any such court (whether through service of notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment or otherwise) and (C) that (i) the suit, action or proceeding
in any such court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this
Agreement, or the subject matter hereof, may not be enforced in or by any such court.

 

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(c)           EACH OF THE PARTIES TO THIS
AGREEMENT HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT
OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND SUCH PARTY
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS CONTAINED IN THIS SECTION 5.6(c).

 

5.7         Specific Performance.
 The parties agree that, in the event of any breach or threatened breach of any covenant or obligation contained in this Agreement,
the parties would be irreparably harmed and that money damages would not provide an adequate remedy. Accordingly, each of the parties
agrees that the parties to this Agreement shall be entitled to seek and obtain (a) a decree or order of specific performance to
enforce the observance and performance of such covenant or obligation, and (b) an injunction restraining such breach or threatened
breach. Each of the parties further agrees that no party shall be required to obtain, furnish or post any bond or similar instrument
in connection with or as a condition to obtaining any remedy referred to in this Section 5.7, and each party irrevocably
waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument.

 

5.8         Counterparts.
 This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same instrument and shall
become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. This
Agreement may be executed by facsimile or electronic transmission signature and a facsimile or electronic transmission signature
shall constitute an original for all purposes.

 

5.9         Descriptive
Headings.  The descriptive headings used herein are inserted for convenience of reference only and are not intended to be part
of or to affect the meaning or interpretation of this Agreement.

 

5.10       Severability.
 Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction
declares that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination
shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable
term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of
the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court
does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable
term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business
and other purposes of such invalid or unenforceable term.

 

5.11       Other.
 Nothing contained herein, and no action taken by the Stockholder pursuant hereto, shall be deemed to constitute the parties as
a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the parties are in any
way acting in concert or as a group with respect to the obligations or the transactions contemplated by this Agreement.

 

    	9

    	 

    

 

5.12       Interpretation.
 When a reference is made in this Agreement to an Article or Section, such reference shall be to an Article or Section of this Agreement
unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used
in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof,”
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision of this Agreement. All terms defined in this Agreement shall have the defined meanings
when used in any certificate or other document made or delivered pursuant thereto unless otherwise defined therein. The definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well
as to the feminine and neuter genders of such terms. Any agreement, instrument or statute defined or referred to herein or in any
agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified
or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession
of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. Each of the parties
has participated in the drafting and negotiation of this Agreement. If an ambiguity or question of intent or interpretation arises,
this Agreement must be construed as if it is drafted by all the parties, and no presumption or burden of proof shall arise favoring
or disfavoring any party by virtue of authorship of any of the provisions of this Agreement.

 

[remainder of page
intentionally blank]

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Voting Agreement to be duly executed as of the day and year first above written. 

 

	 	COMPANY:
	 	 
	 	PETSMART, INC.
	 	 
	 	By:  	/s/ David K. Lenhardt
	 	Name:  David K. Lenhardt
	 	Title:    President and Chief Executive Officer

 

[Signature page to the Voting Agreement]

 

    	 

    	 

    

 

	 	STOCKHOLDER:
	 	 
	 	LONGVIEW ASSET MANAGEMENT, LLC
	 	 
	 	By:	/s/ James A. Star
	 	Name:  James A. Star
	 	Title:   President

 

[Signature page to the Voting Agreement]

 

    	 

    	 

    

  

	 	PARENT:
	 	 
	 	ARGOS HOLDINGS INC.
	 	 
	 	By:	/s/ Michael Chang
	 	Name: Michael Chang
	 	Title:   Vice President and Treasurer

 

[Signature page to the Voting Agreement]

 

    	 

    	 

    

 

EXHIBIT A

 

COMMON STOCK OWNERSHIP

 

	Owner	 	Number of Shares of Common Stock Owned
	The Crown Fund	 	3,590,916
	The Crown Fund II	 	1,677,600
	Areljay, L.P.	 	1,022,000
	Henry Crown & Company (Not Incorporated)	 	560,400
	Crown ICF Fund LLC	 	508,900
	James A. Star	 	63,475
	Paula H. Crown	 	1,300
	Total:	 	7,424,591

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