Document:

Exhibit 10.8

 

GUARANTY (UNLIMITED)

 

In consideration of Citizens
Bank of Massachusetts as Agent for the benefit of and on behalf of all of the
Lenders, as such term is defined in that certain Fifth Amended and Restated
Loan Agreement dated as of June 29, 2001, as the same has been amended and may
hereafter be amended (collectively, the “Loan Agreement”) between The J. Jill
Group, Inc., a Delaware corporation (“J. Jill” or “Borrower”) on the one hand,
and the several financial institutions (“Lenders”) from time to time party
thereto (Citizens Bank of Massachusetts being one of them) and Citizens Bank of
Massachusetts as Agent thereunder (hereinafter called the “Agent”) on behalf of
the Lenders extending credit or otherwise in its discretion giving time, financial
or other accommodations, whether now existing or hereafter arising, to Borrower
including, without limitation, those arising pursuant to the Loan Agreement,
the undersigned (hereinafter called the “Guarantor”) hereby unconditionally
guarantees to the Agent on behalf of the Lenders that (a) the Borrower will
duly and punctually pay or perform, at the Agent’s offices at 28 State Street,
Boston, Massachusetts 02109 all indebtedness, obligations and liabilities,
direct or indirect, matured or unmatured, primary or secondary, certain or
contingent, of the Borrower to the Agent, now, or hereafter owing or incurred
(including without limitation reasonable costs and expenses incurred by the
Agent or Lenders in attempting to collect or enforce any of the foregoing)
which are chargeable to the Borrower either by law or under the terms of the
Agent’s and Lenders’ arrangements with the Borrower (collectively the “Obligations”
and individually an “Obligation”); and (b) if there is an agreement or
instrument evidencing or executed and delivered in connection with any
Obligation, the Borrower will perform in all other respects strictly in
accordance with the terms thereof.

 

This Guaranty is an absolute,
unconditional and continuing guaranty of the full and punctual payment and
performance by the Borrower of the Obligations and not of their collectibility
only and is in no way conditioned upon any requirement that the Agent or
Lenders first attempt to collect any of the Obligations from the Borrower or
any other party primarily or secondarily liable with respect thereto or resort
to any security or other means of obtaining payment of any of the Obligations
which the Agent or Lenders now has or may acquire after the date hereof, or
upon any other contingency whatsoever.

 

Upon any default (a “Default”)
by the Borrower in the full and punctual payment and performance of the
Obligations, the liabilities and obligations of the Guarantor hereunder shall,
at the option of the Agent, become forthwith due and payable to the Agent without
demand or notice of any nature, all of which are expressly waived by the
Guarantor.  Payments by the Guarantor
hereunder may be required by the Agent or Lenders on any number of occasions.  The Guarantor further agrees, as the
principal obligor and not as a guarantor only, to pay to the Agent on behalf of
Lenders forthwith upon demand, in funds immediately available to the Agent, all
reasonable costs and expenses (including court costs and reasonable legal
expenses) incurred or expended by the Agent and the Lenders in connection with
this Guaranty and the enforcement hereof, together with interest on amounts
recoverable under this Guaranty from the time such amounts become due until
payment at the rate then in force under the instruments evidencing the
extension of credit, financial or other accommodations between Borrower and
Agent and Lenders.

 

 

The liability of the Guarantor
hereunder shall be unlimited in amount.

 

The Guarantor grants to the
Agent on behalf of the Lenders, as security for the full and punctual payment
and performance of the Guarantor’s obligations hereunder, a continuing lien on
and security interest in all securities or other property belonging to the
Guarantor now or hereafter held by the Agent or Lenders and in all deposits and
other sums credited by or due from the Agent or Lenders to the Guarantor or
subject to withdrawal by the Guarantor; and regardless of the adequacy of any
collateral or other means of obtaining repayment of the Obligations, the Agent
or Lenders may at any time and without notice to the Guarantor after Default
set off the whole or any portion or portions of any or all such deposits and
other sums against amounts payable under this Guaranty, whether or not any
other person or persons could also withdraw money therefrom.

 

The Agent and Lenders shall be
at liberty, without giving notice to or obtaining the assent of the Guarantor
and without relieving the Guarantor of any liability hereunder, to deal with
the Borrower and with each other party who now is or after the date hereof
becomes liable in any manner for any of the Obligations, in such manner as the
Agent or Lenders in their sole discretion deem fit, and to this end the
Guarantor gives to the Agent or Lenders full authority in their sole discretion
to do any or all of the following things: 
(a) extend credit, make loans and afford other financial accommodations
to the Borrower at such times, in such amounts and on such terms as the Agent
or Lenders may approve; (b) vary the terms and grant extensions or renewals of
any present or future indebtedness or obligation to the Agent or Lenders of the
Borrower or of any such other party; (c) grant time, waivers and other
indulgences in respect thereto; (d) vary, exchange, release or discharge,
wholly or partially, or delay in or abstain from perfecting and enforcing any
security or guaranty or other means of obtaining payment of any of the
Obligations which the Agent or Lenders now have or acquire after the date
hereof; (e) accept partial payments from the Borrower or any such other party;
(f) release or discharge, wholly or partially, any endorser or guarantor; and
(g) compromise or make any settlement or other arrangement with the Borrower or
any such other party.

 

If for any reason the Borrower
has no legal existence or is under no legal obligation to discharge any of the
Obligations undertaken or purported to be undertaken by it or on its behalf, or
if any of the moneys included in the Obligations have become unrecoverable from
the Borrower by operation of law or for any other reason, this Guaranty shall
nevertheless be binding on the Guarantor to the same extent as if the Guarantor
at all times had been the principal debtor on all such Obligations.  This Guaranty shall be in addition to any
other guaranty or other security for the Obligations, and it shall not be
prejudiced or rendered unenforceable by the invalidity of any such other
guaranty or security.  Notwithstanding
any payment by the Borrower to the Agent or the Lenders of the whole or any
portion of the Obligations, if the Agent or Lenders shall be required to pay
any amount so paid to the Agent or Lenders to a Trustee in Bankruptcy of the
Borrower, the Guarantor shall remain liable for any sums so paid to said
Trustee.

 

The Guarantor waives notice of
acceptance hereof, notice of any action taken or omitted by the Agent or
Lenders in reliance hereon, and any requirement that the Agent or Lenders be
diligent or prompt in making demands hereunder, giving notice of any default by
the Borrower or asserting any other right of the Agent or Lenders
hereunder.  The Guarantor also
irrevocably

 

2

 

waives, to the fullest extent
permitted by law, all defenses which at any time may be available in respect of
the Guarantor’s Obligations hereunder by virtue of any homestead exemption,
statute of limitations, valuation, stay, moratorium law or other similar law
now or hereafter in effect.

 

So long as any Obligation
remains unpaid or undischarged, the Guarantor will not, by paying any sum
recoverable hereunder (whether or not demanded by the Agent or Lenders) or by
any means or on any other ground, claim any set-off or counterclaim against the
Borrower in respect of any liability of the Guarantor to the Borrower or, in
proceedings under the Bankruptcy Code or insolvency proceedings of any nature,
prove in competition with the Agent or Lenders in respect of any payment
hereunder or be entitled to have the benefit of any counterclaim or proof of
claim or dividend or payment by or on behalf of the Borrower or the benefit of
any other security for any Obligation which, now or hereafter, the Agent or
Lenders may hold or in which it may have any share or have any right of
subrogation, reimbursement or indemnity or right of recourse to any security
which the Agent or Lenders may have or hold with respect to the Obligations.

 

Any demand on or notice to the
Guarantor shall be in writing and shall be effective when handed to the
Guarantor or left at or mailed or sent by telegraph to the Guarantor’s usual or
last-known address.

 

No provision of this Guaranty
can be changed, waived or discharged except by an instrument in writing signed
by the Agent on behalf of Lenders and the Guarantor expressly referring to the
provision of this Guaranty to which such instrument relates, and no such waiver
shall extend to, affect, or impair any right with respect to any Obligation
which is not expressly dealt with therein. 
No course of dealing or delay or omission on the part of the Agent or
Lenders in exercising any right shall operate as a waiver thereof or otherwise
be prejudicial thereto.

 

This Guaranty is intended to
take effect as a sealed instrument to be governed by and construed in
accordance with the laws of The Commonwealth of Massachusetts and shall inure
to the benefit of the Agent, the Lenders and their respective successors in
title and assigns, and shall be binding on the Guarantor and the Guarantor’s
successors and assigns.

 

 

[Remainder of page intentionally left blank.]

 

3

 

IN WITNESS WHEREOF, the
Guarantor has executed this Guaranty as of the 27th day of December, 2004.

 

 

	
   

  	
   

  	
  J. JILL, GP

  
	
   

  	
   

  	
  By:

  	
   

  
	
  WITNESS:

  	
   

  	
   

  	
  J.J.
  COMPANY, INC.

  
	
   

  	
   

  	
   

  	
  Its Managing
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Mara D.
  Calame

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Olga L. Conley

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Olga
  L. Conley

  
	
   

  	
   

  	
   

  	
  Title:
  President

  
							

 

4Exhibit 10.9

 

PLEDGE AGREEMENT

 

This
instrument is executed as of the 27th day of December, 2004 by and between The
J. Jill Group, Inc., with an address of 4 Batterymarch Park, Quincy,
Massachusetts 02169 (“Pledgor”) and Citizens Bank of Massachusetts (“Citizens”)
as Agent for the benefit of and on behalf of all of the Lenders, as such term
is defined in that certain Fifth Amended and Restated Loan Agreement (as
amended, the “Loan Agreement”) dated June 29, 2001 between Pledgor, on the one
hand, and the several financial institutions from time to time party thereto
(Citizens being one of them) and Citizens as Agent, with its principal offices
located at 28 State Street, Boston, MA 02108 (“Pledgee”).

 

W I T N E S S E T H:

 

WHEREAS,
Pledgor is the holder of all of the issued and outstanding shares of capital
stock of Pledgor’s wholly owned subsidiary, J.J. Company, a Massachusetts
corporation (“Subsidiary”); and

 

WHEREAS,
Pledgor and Pledgee are entering into a Fifth Amendment to the Loan Agreement
of even date; and

 

WHEREAS,
Pledgee requires pursuant to said Fifth Amendment to Loan Agreement that
Pledgor execute and deliver to Pledgee this Pledge Agreement.

 

NOW THEREFORE,
for valuable consideration, the receipt and sufficiency of which are
acknowledged, the parties hereto hereby agree:

 

§1.                                Pledge
of  Stock.  The Pledgor
hereby pledges, assigns, grants a security interest in, and delivers to the
Pledgee on behalf of the Lenders all shares of capital stock of the Subsidiary
described in Exhibit “A” hereto, to be held by the Pledgee subject to
the terms and conditions hereinafter set forth; the certificate for which
shares, accompanied by stock powers or other appropriate instruments of
assignment thereof duly executed in blank by the Pledgor, are being delivered to
the Pledgee herewith.

 

§2.                                Definitions.

 

(a)                                  The
term “Stock” as used herein includes the shares of stock of the Subsidiary
described in Exhibit “A” attached hereto, and any additional shares of
stock of the Subsidiary subsequently issues.

 

(b)                                 The
term “Obligations” as used herein means all indebtedness, obligations and
liabilities of Pledgor, to the Pledgee, whether now existing or hereafter
arising, direct or indirect, absolute or contingent, due or to become due,
matured or unmatured, liquidated or unliquidated, whether monetary or
non-monetary, whether arising by contract, operation of law or otherwise,
including without limitation, indebtedness arising

 

 

pursuant to
the Loan Agreement, as such indebtedness and/or the Loan Agreement may be
modified, extended, renewed, amended, substituted or changed from time to time.

 

(c)                                  The
term “Collateral” as used herein means the property at any time, whether now or
hereafter, pledged to the Pledgee hereunder (whether described herein or not)
and all income therefrom, increases therein and proceeds thereof.

 

(d)                                 The
term “Event of Default” as used herein shall mean any Event of Default pursuant
to the Loan Agreement, as such Loan Agreement may be modified, extended,
renewed, amended, substituted or changed from time to time.

 

§3.                                Security
for  Obligations.  This
Agreement and the pledge of the Collateral hereunder is made with the Pledgee
as security for the Obligations.

 

§4.                                Liquidation,
Recapitalization, Etc.  Any
sums paid upon or with respect to the Stock upon the liquidation or dissolution
of issuer thereof shall be paid over to the Pledgee to be held by it as
security for the Obligations; and in case any distribution of capital shall be
made on or in respect of the Stock or any property shall be distributed upon or
with respect to the Stock pursuant to the recapitalization or reclassification
of the capital of the issuer thereof or pursuant to the reorganization thereof,
the property so distributed shall be delivered to the Pledgee to be held by it
as security for the Obligations.  All
sums of money and property paid or distributed in respect of the Stock upon
such a liquidation, dissolution, recapitalization or reclassification which are
received by the Pledgor shall, until paid or delivered to the Pledgee, be held
in trust for the Pledgee as security for the Obligations.  The payment of a dividend, other than in
cash, shall be deemed to be recapitalization.

 

§5.                                Agreement
to  Deliver  Subsequently  Issued  Stock.  Pledgor agrees to deliver forthwith to
Pledgee all shares of capital stock of the Subsidiary which shares are issued
subsequent to the execution of this Agreement together with all such stock
powers or other appropriate instruments of assignment duly executed in blank by
the Pledgor.

 

§6.                                Warranty
of  Title.  The Pledgor
warrants:  (a) that Pledgor has title to
the Stock described in Section 1 hereof; (b) the Stock is subject to no pledge,
lien, security interest, charge, option, restrictions or other encumbrances
created by the Pledgor except the security interest created by this Agreement;
and (c) the Pledgor has power, authority and legal right to pledge all of such
Stock pursuant to this Agreement.

 

§7.                                Dividends,
Voting, Etc., Prior  to  Maturity.  So long as no Event of Default has occurred,
the Pledgor shall be entitled to vote the Stock and to give consents, waivers
and ratifications in respect of the Stock, provided that no vote shall be cast,
or consent, waiver or ratification given or action taken which would be
inconsistent with or violate any provisions of any agreement evidencing or
securing the Obligations or of this Agreement, and provided further, that
following an Event of Default the Pledgee may cause the Stock to be transferred
into its own name as collateral security. 
All such rights of the Pledgor to vote and give consents, waivers and
ratifications with respect to the Stock shall, at Pledgee’s option, as
evidenced by

 

2

 

Pledgee’s notifying Pledgor of
such election, cease in case an Event of Default shall have occurred.

 

§8.                                Remedies.  If an Event of Default shall have occurred,
the Pledgee shall thereafter have the following rights and remedies (to the
extent permitted by applicable law) in addition to the rights and remedies of a
secured party under the Uniform Commercial Code of Massachusetts, all such
rights and remedies being cumulative, not exclusive, and enforceable
alternatively, successively or concurrently, at such time or times as the
Pledgee deems expedient:

 

(a)                                  if
the Pledgee so elects and gives notice of such election to the Pledgor, the
Pledgee may vote any or all shares of the Stock (whether or not the same shall
have been transferred into its name or the name of its nominee or nominees) and
give all consents, waivers and ratifications in respect of the Stock and
otherwise act with respect thereto as though it were the outright owner thereof
(the Pledgor hereby irrevocably constituting and appointing the Pledgee the
proxy and attorney-in-fact of the Pledgor, with full power of substitution, to
do so);

 

(b)                                 the
Pledgee may demand, sue for, collect or make any compromise or settlement the
Pledgee deems suitable in respect of any Collateral held by it hereunder;

 

(c)                                  the
Pledgee may sell, resell, assign and deliver, or otherwise dispose of any or
all of the Collateral, for cash and/or credit and upon such terms at such place
or places and at such time or times and to such persons, firms, companies or
corporations as the Pledgee thinks expedient, all without demand for
performance by the Pledgor or any notice or advertisement whatsoever except
such as may be required by law; and

 

(d)                                 the
Pledgee may cause all or any part of the Stock held by it to be transferred
into its name or the name of its nominee or nominees, if it has not already
done so.

 

(e)                                  the
Pledgee may cause all resignations of officers and directors of the issuer of
the Stock which have been deposited with it to be accepted and may take all
necessary action to fill the vacancies thereby arising.

 

The Pledgee
may enforce its rights hereunder without any other notice and without
compliance with any other condition precedent now or hereafter imposed by
statute, rule of law or otherwise (all of which are hereby expressly waived by
the Pledgor, to the fullest extent permitted by law).  Pledgee acknowledges that ten (10) days’
notice of any public sale or of that date on or after which a private sale may
be effected is reasonable notice.  The
Pledgee may buy any part or all of the Collateral at any public sale and if any
part or all of the Collateral is of a type customarily sold in a recognized
market or is of the type which is the subject of widely-distributed standard
price quotations, the Pledgee may buy at private sale and may make payments
thereof by any means.  The Pledgee may
apply the cash proceeds actually received from any sale or other disposition to
the reasonable expenses of retaking, holding, preparing for sale, selling and
the like, to reasonable attorneys’ fees, and all legal expenses, travel and
other expenses which may be incurred by the Pledgee in attempting to collect
the Obligations or to

 

3

 

enforce this Agreement or in
the prosecution or defense of any action or proceeding related to the subject
matter of this Agreement; and then to the Obligations, and any surplus shall be
paid to the Pledgor.

 

§9.                                Marshalling.  The Pledgee shall not be required to marshal
any present or future security for (including but not limited to this Agreement
and the Collateral pledged hereunder), or guaranties of, the Obligations or any
of them, or to resort to such security or guaranties in any particular order;
and all of its rights hereunder and in respect of such security and guaranties
shall be cumulative and in addition to all other rights, however existing or
arising.  To the extent that it lawfully
may, the Pledgor hereby agrees that it will not invoke any law relating to the
marshalling of collateral which might cause delay in or impede the enforcement
of the Pledgee’s rights under this Agreement or under any other instrument
evidencing any of the Obligations or under which any of the Obligations is
outstanding or by which any of the Obligations is secured or guaranteed, and to
the extent that it lawfully may the Pledgor hereby irrevocably waives the
benefits of all such laws.

 

§10.                          Pledgor’s
Obligations  Not  Affected. 
The obligations of the Pledgor hereunder shall remain in full force and
effect without regard to, and shall not be impaired by (a) any bankruptcy,
insolvency, reorganization, arrangement, readjustment, composition, liquidation
or the like of the Pledgor; (b) any exercise or nonexercise, or any waiver, by
the Pledgee of any right remedy, power or the Obligations or privilege under or
in respect of any of any security thereof (including this Agreement); (c) any
amendment to or modification of any instrument (other than this Agreement)
securing any of the Obligations; or (d) the taking of additional security for,
or any guaranty of, any of the Obligations or the release or discharge or
termination of any security or guaranty for any of the Obligations; whether or
not the Pledgor shall have notice or knowledge of any of the foregoing.

 

§11.                          Transfer
Etc., by  Pledgor. 
Without the prior written consent of the Pledgee, the Pledgor will not
sell, assign, transfer or otherwise dispose of, grant any option with respect
to, or pledge or grant any security interest in or otherwise encumber any of
the Collateral or any interest therein, except for the pledge thereof provided
for in this Agreement.

 

§12.                          Further
Assurances.  Pledgor will, from
time to time, execute and deliver to Pledgee all such other and further
instruments and documents and take or cause to be taken all such other and
further action as Pledgee may reasonably request in order to effect and confirm
more securely in Pledgee all rights contemplated in this Agreement.

 

§13.                          Pledgee’s
Exoneration.  Under no
circumstances shall the Pledgee be deemed to assume any responsibility for or
obligation or duty with respect to any part or all of the Collateral of any
nature or kind, other than the physical custody thereof, or any matter or
proceedings arising out of or relating thereto, other than to exercise
reasonable care in the physical custody of the Collateral.  The Pledgee shall not be required to take any
action of any kind to collect, preserve or protect its or the Pledgor’s rights
in the Collateral or against other parties thereto, other than to exercise
reasonable care in the physical custody of the Collateral.  The Pledgee’s prior recourse to any part or
all of the Collateral shall not constitute a condition of any demand, suit or
proceeding for payment or collection of the Obligations.

 

4

 

§14. No
Waiver, Etc.  No act, failure
or delay by the Pledgee shall constitute a waiver of its rights and remedies
hereunder or otherwise.  No single or
partial waiver by the Pledgee of any default or right or remedy which it may
have shall operate as a waiver of any other default, right or remedy or of the
same default, right or remedy on a future occasion.  The Pledgor hereby waives presentment, notice
of dishonor and protest of all instruments, included in or evidencing any of
the Obligations or the Collateral, and any and all other notices and demands
whatsoever (except as expressly provided herein).

 

§15. Notice,
Etc.  All communications herein
provided shall be in writing and shall be sufficient if sent by United States
mail, registered or certified, postage prepaid, delivered by messenger,
so-called overnight courier, telex or telefax, addressed as follows:

 

	
  If to the
  Pledgor:

  	
  The J. Jill
  Group, Inc.

  
	
   

  	
  4 Batterymarch Park

  
	
   

  	
  Quincy, MA 02169

  
	
   

  	
  Attn: Chief Financial Officer

  
	
   

  	
  Fax: 617-769-0177

  
	
   

  	
   

  
	
  with a copy
  to:

  	
  Foley Hoag
  LLP

  
	
   

  	
  155 Seaport Boulevard

  
	
   

  	
  Boston, MA 02210

  
	
   

  	
  Attn: David R. Pierson, Esq.

  
	
   

  	
  Fax: 617-832-7000

  
	
   

  	
   

  
	
  If to the
  Pledgee:

  	
  Citizens
  Bank of Massachusetts

  
	
   

  	
  28 State Street

  
	
   

  	
  Boston, MA 02108

  
	
   

  	
  Attn: Lori B. Leeth, Sr. V.P.

  
	
   

  	
  Fax: 617-725-5690

  
	
   

  	
   

  
	
  with a copy
  to:

  	
  Adler
  Pollock & Sheehan, P.C.

  
	
   

  	
  175 Federal Street

  
	
   

  	
  Boston, MA 02110

  
	
   

  	
  Attn: Paul J. Levenson, Esq.

  
	
   

  	
  Fax: 617-482-0604

  

 

or to such other address as the
party to receive any such communication or notice may have designated by
written notice to the other party.

 

Any notice
given pursuant to this Section shall be effective when received.

 

§16.                          Termination.  This Agreement shall continue in full force
and effect until the payment and performance in full of the Obligations and the
payment and performance by the Pledgor of all of Pledgor’s covenants and
agreements hereunder, whereupon this Agreement shall terminate and the Pledgor
shall be entitled to the return of such Collateral in the possession or

 

5

 

control of the Pledgee as has
not theretofore been disposed of pursuant to the provisions hereof, together
with any moneys and other property at the time held by the Pledgee hereunder.

 

§17.                          Miscellaneous
Provisions.  Neither this
Agreement nor any term hereof may be changed, waived, discharged or terminated
except by a written instrument expressly referring to this Agreement and to the
provisions so modified or limited, and executed by the party to be
charged.  The execution and delivery of
this Agreement and pledging of the Stock described in Section 1 hereof are
within the Pledgor’s power, such execution and delivery and the pledging of
such Stock do not contravene any law or any rule or regulation thereunder or
any judgment, decree or order of any tribunal or of any agreement or instrument
to which the Pledgor is a party or by which Pledgor or any of its property is
bound or constitute a default thereunder. 
This Agreement and all obligations of the Pledgor shall be binding upon
the heirs, executors, successors and assigns of the Pledgor, and shall,
together with the rights and remedies of the Pledgee hereunder, inure to the
benefit of the Pledgee, its successors and assigns.  This Agreement and the obligations of the
Pledgor hereunder shall be governed by and construed in accordance with the
laws of The Commonwealth of Massachusetts. 
The descriptive section headings have been inserted for convenience of
reference only and do not define or limit the provisions hereof.  If any term of this Agreement shall be held
to be invalid, illegal or unenforceable, the validity of all other terms hereof
shall be in no way affected thereby, and this Agreement shall be construed and
be enforceable as if such invalid, illegal or unenforceable term had not been
included herein.  The Pledgor
acknowledges receipt of a copy of this Agreement.  To the extent permitted by applicable law,
the Pledgor and the Pledgee each hereby waive trial by jury in any proceeding
brought for the interpretation or enforcement of this Agreement or for a determination
of the rights of the parties hereunder. 
Terms used herein without definition, but which are defined in the
Uniform Commercial Code of Massachusetts, shall, unless the context otherwise
indicates or requires, have the meanings ascribed to them in said Uniform
Commercial Code.

 

 

[Remainder of page intentionally left blank.]

 

6

 

IN WITNESS
WHEREOF, the Pledgor and the Pledgee have caused this Agreement to be duly
executed as of the date first above written.

 

	
  WITNESS:

  	
   

  	
  THE J. JILL
  GROUP, INC.

  
	
   

  	
   

  	
   

  
	
  /s/ Mara D.
  Calame

  	
   

  	
   

  	
  By:

  	
  /s/ Olga L. Conley

  	
   

  
	
   

  	
   

  	
  Name:
  Olga L. Conley

  
	
   

  	
   

  	
  Title:
  EVP/Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WITNESS:

  	
   

  	
  CITIZENS
  BANK OF MASSACHUSETTS

  
	
   

  	
   

  	
   

  
	
  /s/ Maryalice
  Trottier

  	
   

  	
   

  	
  By:

  	
  /s/ Lori B. Leeth

  	
   

  
	
   

  	
   

  	
  Name: Lori
  B. Leeth

  
	
   

  	
   

  	
  Title:
  Senior Vice President

  

 

7

 

EXHIBIT A

 

 

100 shares of the common stock
of J.J. Company represented by stock certificate No. 1.

 

8

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