Document:

EX-10.2

 Exhibit 10.2 

EXECUTION COPY 
 ASSET
PURCHASE AND CONTRIBUTION AGREEMENT 
 THIS ASSET PURCHASE AND CONTRIBUTION AGREEMENT (this “Agreement”) is
dated as June 8, 2016, by and among bebe stores, inc., a California corporation (“bebe”), Bebe Studio, Inc., a California corporation (“BSI” and together with bebe, collectively, “Seller”), BB
Brand Management LLC, a New York limited liability company (“BB Management”), and BB Brand Holdings LLC, a Delaware limited liability company (“Buyer”) (collectively, the “Parties”). 

RECITALS 
 This
Agreement is made with reference to the following facts: 
 A. Buyer is a wholly-owned subsidiary of BB Management and, prior to the
date hereof, was funded with cash equal to the Closing Payment (as hereinafter defined). 
 B. Seller owns certain trademarks,
service marks and related assets. 
 C. Seller’s business consists primarily of designing, marketing, manufacturing, licensing,
distributing and selling apparel, related accessories and other products bearing Seller’s trademarks and service marks (the “Business”). 

D. Seller and Buyer desire that Seller transfer the Assets (as hereinafter defined), together with the goodwill associated therewith,
to Buyer and Buyer desires to acquire such Assets from Seller, on the terms and conditions set forth herein. 
 E. Upon the
consummation of the transactions contemplated by this Agreement, bebe shall become a member of Buyer on the terms and conditions set forth herein and in the Operating Agreement (as hereinafter defined). 

AGREEMENT 
 NOW,
THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 

1. ASSETS TO BE TRANSFERRED. At the Closing (as defined below) and effective as of the Closing Date (as defined below), Seller
will transfer to Buyer all worldwide right, title and interest of Seller in and to the following assets of Seller, free and clear of all Liens other than Permitted Liens (collectively the “Assets”): 

1.1 all registered, unregistered and common law trademarks, service marks, logos and brand names owned by Seller including the
“bebe” name and any derivations thereof as well as the marks set forth on Schedule 1.1 attached hereto, and all registrations and applications therefor, together with the goodwill of the Business connected with the use of and
symbolized by such marks, in any form including abbreviation, derivation, diffusion and/or otherwise, whether stylized or not stylized, for all commercial purposes for all goods, products and services, including for apparel and apparel accessories,
including in all international trademark classes, including all worldwide rights, title and interest in such names, whether registered or not (collectively, the “Trademarks”); 

  
 1 

 1.2 the Contracts pursuant to which Seller has granted to a third party a royalty-bearing license
to use one or more of the Trademarks, including license agreements, distribution agreements and similar Contracts, including those Contracts listed on Schedule 1.2 attached hereto, as well as all Contract Rights thereunder (collectively, the
“Licenses”), but, for clarity, excluding the Retained Distribution Agreements and any other agreements between Seller and its subcontractors such as agreements with its factories, designers, advertisers, printers, and similar
subcontractors, that Seller utilizes in operating its Business, including for performing its obligations under the Contracts and/or exercising its rights under the License Agreement; provided, however, in the event that a Retained
Distribution Agreement is bifurcated in accordance with Section 9.4 hereof, the New Buyer Agreement to which Buyer is a party shall be automatically deemed a “License” as of the date such New Buyer Agreement is fully executed;

 1.3 the registered copyrights set forth on Schedule 1.3 attached hereto (collectively, the “Copyrights”); 

1.4 the domain names listed on Schedule 1.4 attached hereto as well as any other domain names (other than the Retained URLs) related
to, or used in connection with, the Trademarks (collectively the “Domain Names,” and collectively with the Trademarks and the Copyrights, the “Transferred IP”); and 

1.5 all claims, rights and causes of action of Seller for damages, profits or otherwise, including for declaratory relief, known or unknown,
for infringement or any similar or related causes of action relating to any of the Transferred IP, other than with respect to any Proceedings commenced by Seller prior to the Closing Date (which are set forth on Schedule 1.5). 

In the event that any of Seller’s employees or subsidiaries, owns (or is listed as the owner of record) or is in possession of any of the Assets, Seller
shall cause such employee or subsidiary to convey such interest to Buyer at the Closing without any additional consideration paid by Buyer to such employee or Affiliate. 

2. EXCLUDED ASSETS. Except for the Assets, Seller is not selling, transferring or granting any rights to Buyer and Buyer is not
acquiring any right, title or interest in any other assets of Seller, including the following (the “Excluded Assets”): 

2.1 accounts receivable; 
 2.2
inventory (including any parts and finished goods); 
 2.3 purchase orders, sales orders, invoices, contracts and agreements (other than the
Licenses); 
 2.4 the Retained URLs and the Media Accounts; 

  
 2 

 2.5 subject to Section 9.4, the Retained Distribution Agreements (other than the New
Buyer Agreements); 
 2.6 refunds and rights to refunds; and 

2.7 real estate leases (including with respect to any showrooms and/or retail stores). 

3. EXCLUDED AND ASSUMED LIABILITIES.  

3.1 Buyer shall not assume and shall have no responsibility for any agreements, liabilities or obligations (i) of Seller (or any Affiliate
of Seller) arising out of or relating to Seller’s (or its Affiliate’s) ownership or operation of the Business and the Assets prior to the Closing, (ii) arising out of the Retained Distribution Agreements or Licenses prior to the
Closing, (iii) arising out of the Retained Distribution Agreements or Licenses (other than the New Buyer Agreements) after the Closing to the extent associated with obligations of Seller under such Retained Distribution Agreements and Licenses
(other than with respect to royalty collection and trademark enforcement rights concerning the Transferred IP), (iv) arising out of the Scheduled Proceedings, (v) subject to Section 3.3, arising out of the Co-Existence
Agreements, (vi) arising out of or relating to the Affiliate Agreements, or (vii) arising out of or relating to the Excluded Assets (together, the “Excluded Liabilities”), which, for the avoidance of doubt, includes
(a) any liability for Taxes of Seller (or Affiliate of Seller) for any Tax period or relating to the Business, the Assets or the Assumed Liabilities for any Tax period (or portion thereof) ending on or prior to the Closing Date, or that are the
responsibility of Seller pursuant to Section 4.3, but excluding any Taxes that are the responsibility of Buyer pursuant to Section 4.3; or (b) any liability of Seller (or any Affiliate of Seller) for Taxes of any other
Person under any common law doctrine of de facto merger or transferee or successor liability or otherwise by operation of contract or Law). 

3.2 Buyer shall assume and agree to perform when due any and all liabilities and obligations (i) of Seller arising out of or relating to
the ownership or operation of the Assets on or after the Closing, other than the Excluded Liabilities, and (ii) necessary to register, maintain, and reasonably enforce the Transferred IP and to maintain and protect the associated goodwill
(together, the “Assumed Liabilities”). 
 3.3 Buyer shall, and shall use its best efforts to cause its licensees to, comply
with the terms of the Co-Existence Agreements from and after the Closing. In the event that Buyer becomes aware of a breach by a licensee of a Co-Existence Agreement following Closing, Buyer shall provide Seller with prompt written notice thereof
and shall use commercially reasonable efforts to (x) take prompt action to enforce any such licensee’s compliance with any such obligation and (y) pursue any right or claim regarding such breach against such licensee. 

3.4 Buyer and Seller acknowledge that each have rights and obligations under the Operating Agreement and the License Agreement, which shall be
governed by the terms and conditions of such agreements. 

  
 3 

 4. CONSIDERATION. 

4.1 Subject to the terms and conditions of this Agreement, the aggregate consideration for the Assets shall be equal to the payment of the
Closing Payment (as defined below) and the issuance of the Seller JV Interest (as defined below) (the “Purchase Price”). 

4.2 At the Closing, Buyer shall (i) pay to bebe Thirty Five Million Dollars ($35,000,000), which shall be payable at the Closing by wire
transfer to such accounts which are designated in writing by bebe at least two (2) business days prior to Closing (the “Closing Payment”) and (ii) issue to bebe a 50.0000000001% limited liability company interest in Buyer
(the “Seller JV Interest”). 
 4.3 All costs and expenses associated with, necessary or incident to the transfer of the
Transferred IP in accordance with the transfer plan set forth in Exhibit B (the “Transfer Plan”), including attorneys’ fees, agents’ fees, governmental fees, recording fees and any other similar fees (collectively,
“Transfer Fees”) shall be paid by Seller. Any taxes related to the sale of the Assets which are normally paid by a seller shall be the responsibility of Seller and shall be promptly paid by Seller to the appropriate taxing
authorities following the Closing. Any taxes related to the sale of the Assets which are normally paid by a buyer shall be the responsibility of Buyer and shall be promptly paid by Buyer to the appropriate taxing authorities following the Closing.
The Parties hereby waive compliance with the provisions of any bulk sales, bulk transfer or similar Laws of any jurisdiction that may otherwise be applicable with respect to the sale of any or all of the Assets to Buyer; it being understood that any
liabilities arising out of the failure of Seller to comply with the requirements and provisions of any bulk sales, bulk transfer or similar Laws of any jurisdiction which would not otherwise constitute Assumed Liabilities shall be treated as
Excluded Liabilities. 
 4.4 For federal income tax purposes (and, to the extent applicable, state and local income tax purposes), the
transfer of the Assets pursuant to this Agreement is intended to be treated as (i) a sale by Seller, and purchase by Buyer, of a 49.9999999999% interest in each of the Assets in exchange for the Closing Payment and (ii) a contribution by
Seller to Buyer of a 50.0000000001% interest in each of the Assets in exchange for the Seller JV Interest pursuant to Section 721(a) of the Code (and any corresponding provision of state or local tax law). The Parties shall prepare and file all
tax returns in a manner consistent with the foregoing intended tax treatment. 
 4.5 The Purchase Price (plus Assumed Liabilities, to the
extent properly taken into account under the Code), including the value of the Seller JV Interest, shall be allocated among the Assets for federal income tax purposes (and, to the extent applicable, state and local income tax purposes) in accordance
with an allocation schedule that Buyer shall prepare within sixty (60) days after the Closing Date, which allocation shall be mutually agreeable to both Buyer and Seller. If the Purchase Price is adjusted pursuant to
Section 11.5(d), such allocation shall be adjusted as mutually agreeable to both Buyer and Seller. Buyer and Seller shall follow and use such allocation in all tax returns, filings or other related reports made by them to any
Governmental Entity; provided, however, that nothing contained herein shall prevent Buyer or Seller from settling any proposed deficiency or adjustment by any Governmental Entity based upon or arising out of such allocation, and neither Buyer nor
Seller shall be required to litigate 

  
 4 

 
before any court any proposed deficiency or adjustment by any Governmental Entity challenging such allocation. To the extent that disclosures of this allocation are required to be made by the
Parties to the Internal Revenue Service under the provisions of Section 1060 of the Code or any regulations thereunder, Buyer and Seller will disclose such reports to the other prior to filing with the Internal Revenue Service. 

5. CLOSING. The closing of the transactions contemplated by this Agreement (“Closing”) shall take place
simultaneously with the execution of this Agreement on the date hereof (the “Closing Date”) at the offices of Blank Rome LLP, 405 Lexington Ave., New York, New York 10174, or such other place as mutually agreed in writing by the
Parties. 
 6. DELIVERIES. 

6.1 At the Closing, or as applicable in accordance with the Transfer Plan, Seller shall deliver to Buyer the following (each a
“Transaction Document” and, collectively, the “Transaction Documents”): 
 (a) A duly executed
Assignment, Assumption and Bill of Sale transferring the Assets and assigning and assuming the Licenses (the “Assignment and Assumption”); 

(b) Duly executed Intellectual Property Assignments transferring the Transferred IP to Buyer, free and clear of all Liens other than
Permitted Liens (the “IP Assignments”), including any assignment, power of attorney or other documentation required by any governmental body or trademark office in order to effectuate the assignment of any of the Transferred IP;

 (c) A duly executed power of attorney granted by Seller or any applicable subsidiary in favor of Buyer to record such IP Assignments in
the applicable offices and registries; 
 (d) Duly executed assignments transferring the Domain Names; 

(e) Consents from any third parties required to give consent to the transfer of any of the Licenses to Buyer; 

(f) Instruments (e.g. releases, UCC-3, etc.) as may be reasonably necessary or required so that effective as of the Closing, all of the
Assets are released from any and all Liens; 
 (g) Subject to the Transfer Plan set forth on Exhibit B, the originals or copies of all
applications and registrations for any of the Transferred IP in Seller’s, or Seller’s advisor’s, counselor’s, or representative’s, possession as of the Closing Date, except for any applications filed electronically with the
USPTO; 
 (h) Samples, pictures, records, etc. with respect to goods bearing the Trademarks in Seller’s possession that are reasonably
necessary for Buyer to prove use of any of the Trademarks for purposes of filing any statements of use (or to satisfy any similar requirements) of the USPTO and/or any other similar domestic or international governmental body or reasonably necessary
for Buyer to protect the Trademarks; 

  
 5 

 (i) A duly-executed counterpart by bebe of the Amended and Restated Limited Liability Company
Agreement of Buyer (the “Operating Agreement”); 
 (j) A duly-executed counterpart by bebe of that certain License
Agreement by and between Buyer and bebe (the “License Agreement”); and 
 (k) A statement executed by Seller and issued
pursuant to Treasury Regulations Section 1.1445-2(b) certifying that Seller is not a non-U.S. person. 
 6.2 At the Closing, Buyer
shall deliver to Seller the following: 
 (a) The Closing Payment (via wire transfer); 

(b) A duly-executed counterpart by Buyer of the Assignment and Assumption; 

(c) A duly-executed counterpart by Buyer of the Operating Agreement; and 

(d) A duly-executed counterpart by Buyer of the License Agreement. 

7. REPRESENTATIONS OF SELLER. Each of bebe and BSI represents and warrants to Buyer as of the date hereof as follows: 

7.1 Organization of Seller. Each of bebe and BSI is a corporation duly organized, validly existing and in good standing under the laws
of the State of California and entitled to own its assets and properties and to carry on business where such business is now being conducted. 

7.2 Authorization of Transaction. Each of bebe and BSI has all requisite power and authority to execute and deliver this Agreement and
each Transaction Document required to be executed or delivered by such party and any and all instruments necessary or appropriate in order to perform its obligations under this Agreement. This Agreement has been duly authorized, executed and
delivered by all necessary action on the part of each of bebe and BSI and constitutes a valid and legally binding obligation of each of bebe and BSI, enforceable against such party in accordance with its or their terms and conditions, except as may
be limited by laws regarding bankruptcy or insolvency or creditors’ rights generally or by principles of equity. 
 7.3
Non-contravention. Except as set forth on Schedule 7.3, neither the execution, delivery and performance of this Agreement or the Transaction Documents nor the consummation of the transactions contemplated by this Agreement by Seller
shall (a) violate any Law as to which Seller, the Business or the Assets is subject, (b) violate any provision of the organizational documents of Seller, (c) conflict with, result in a breach of, constitute a default under, result in
the acceleration of, create in any party the right to accelerate, terminate, modify, 

  
 6 

 
or cancel, or require any notice under any Contract or other document to which Seller is a party and by which any of the Assets are bound, (d) violate any order, writ, judgment, injunction,
decree, statute, rule or regulation of any court or Governmental Entity (an “Order”) applicable to Seller or by which any of Assets are bound, or (e) result in the imposition of any Lien upon any of the Assets other than a
Permitted Lien, except in the case of clauses (a) or (c), where the conflict, breach, default, acceleration, termination, modification, cancellation or failure to give notice would not be material to the Assets taken as a whole or prevent the
consummation of the transactions contemplated hereby. Seller is not required to give any notice to, make any filing with, or obtain any authorization, consent or approval of, any Governmental Entity in order for the parties to consummate the
transactions contemplated by this Agreement. 
 7.4 Creditors; Bankruptcy, Etc. Seller is not involved in any Proceeding by or
against Seller that, if resolved adversely to Seller, would have an adverse impact on the Assets or prevent or otherwise affect Seller’s ability to comply with the provisions of this Agreement. Seller is not a debtor in any bankruptcy or
insolvency proceeding, and no trustee, receiver, liquidator, assignee, sequestrator or other similar official has been appointed or is being sought for Seller or for any of its assets, and Seller does not know of any basis for any of the foregoing.

 7.5 Legal Compliance. Except as set forth on Schedule 7.5 (collectively with the Trademark Proceedings (as defined below),
the “Scheduled Proceedings”), there is no material Proceeding or Order pending or, to knowledge of Seller, threatened against Seller relating to the operation of the Business, or the validity, enforceability, ownership or use of the
Assets. Seller is not, nor since January 1, 2014 has been, in material violation of any Law in connection with the conduct, ownership or operation of the Assets, nor, since January 1, 2014, has Seller received written notice of any such
violations. Since January 1, 2014, no notice, citation, summons, or order has been issued, no complaint has been filed, no penalty has been assessed, and no investigation or review is pending or, to knowledge of Seller, threatened by any
Governmental Entity with respect to (i) any alleged violation by Seller of any Law relating to the Assets, or (ii) any alleged failure by Seller to have any license, permit, authorization, or other approval relating to the Assets. 

7.6 Title to Properties. Seller owns good and marketable title to the Assets, as applicable, free and clear of all Liens other than the
Permitted Liens. Seller has complete and unrestricted power and right to sell, assign, convey and deliver the Assets to Buyer as contemplated hereby. Neither Seller nor any of its Affiliates has any agreement, absolute or contingent, written or
oral, with any other Person to effect any acquisition transaction or to sell or otherwise transfer any of the Assets. 
 7.7 Intellectual
Property. 
 (a) The Seller owns all right, title and interest in, or otherwise has the right to sell and transfer, all Trademarks, free
and clear of all Liens other than Permitted Liens. 
 (b) Schedule 1.1 contains a complete and accurate list in all material
respects of all Trademarks that are the subject of a registration or application for registration, and where registered and/or pending applications have been applied for, respectively, the registration and/or application information which consists
of the registration and/or application number, date 

  
 7 

 
of application and/or registration, and jurisdiction. The Trademarks in the United States and Canada are valid, subsisting, and enforceable, and with respect to those that have been registered
(or applied for) are, as of the date of this Agreement, in compliance in all material respects with all formal legal requirements (including the timely post-registration filing of affidavits of use and incontestability and renewal applications), and
are not subject to any maintenance fees or taxes or deadlines falling due within ninety (90) days after the Closing Date, except as set forth in Schedule 7.7(b). To the knowledge of Seller, the Trademarks in jurisdictions other than the
United States and Canada are valid, subsisting, and enforceable, and are, as of the date of this Agreement, in material compliance with all formal legal requirements (including the timely post-registration filing of affidavits of use and
incontestability and renewal applications), and are not subject to any maintenance fees or taxes or deadlines falling due within ninety (90) days after the Closing Date, except as set forth in Schedule 7.7(b). Seller owns, has the right
to use, sell, license and dispose of, and has the right to bring actions for the infringement of the Trademarks. Except as set forth on Schedule 7.7(b) (the “Trademark Proceedings”), no Trademark has, since October 1,
2012, been or is now involved in any litigation, arbitrations, administrative proceeding, opposition, invalidation or cancellation proceeding or any other Proceeding relating to the validity and/or registrability thereof, and since October 1,
2012, no such action has been threatened in writing to Seller or any of its Affiliates with respect to any of the Trademarks; provided that the foregoing representations shall be to the knowledge of Seller with respect to Trademarks in
jurisdictions other than the United States and Canada. Seller has not received any written charge, complaint, claim, demand or notice since October 1, 2012 alleging any interference, infringement, misappropriation, conflict or act of unfair
competition with respect to the Trademarks; provided that the foregoing representation shall be to the knowledge of Seller with respect to Trademarks in jurisdictions other than the United States and Canada. Seller has not, since
October 1, 2012, sent to any third party or otherwise communicated to another Person any charge, complaint, claim, demand or written notice asserting infringement or misappropriation of, or other conflict with, any right of Seller by such other
Person or any acts of unfair competition by such other Person, nor, to the knowledge of Seller, is any such infringement, misappropriation, conflict or act of unfair competition occurring or threatened as of the date of this Agreement. To the
knowledge of the Seller, none of the Trademarks have been challenged and there are no potentially infringing pending trademarks (or service marks) or trademark (or service marks) applications. There are no royalties, honoraria, fees or other
payments payable by Seller to any Person by reason of the ownership, use, license, sale or disposition of any of the Trademarks. To the knowledge of Seller, no individual (or entity on behalf of any individual) is claiming any rights to the
Trademarks as of the date of this Agreement. 
 (c) Schedule 1.3 contains a complete and accurate list of all Copyrights and where
registered. All Copyrights are owned by Seller and are valid, subsisting, and enforceable. To the knowledge of Seller, except as set forth in Schedule 7.7(c), no Copyrights have been, since January 1, 2014, or are now involved in any
litigation, arbitrations, administrative proceeding, opposition, invalidation or cancellation proceeding or any other Proceeding and no such Proceeding has been threatened in writing to Seller or any of its Affiliates with respect to any of the
Copyrights. To the knowledge of Seller, no copyright application of any other Person is pending which would or would materially interfere with or infringe any Copyright. To the knowledge of Seller, no Copyright infringes, interferes with or has been
alleged in writing to interfere with or infringe the copyright of any other entity or Person. 

  
 8 

 (d) Schedule 1.4 contains a complete and accurate list of all Domain Names. All Domain
Names have been registered in the name of Seller (and/or are otherwise controlled by Seller with Seller having power to cause transfer to Buyer) and are in compliance with Law in all material respects. To the knowledge of Seller, no Domain Name is
now involved in any dispute, opposition, invalidation or cancellation proceeding and no such action is threatened in writing. 
 (e) Except
as set forth on Schedule 7.7(e) (the “Co-Existence Agreements”), there are no co-existence, settlement or other similar Contracts with respect to the Transferred IP or any covenants not to sue for infringement or otherwise
enforce any rights in the Transferred IP against any Person. 
 (f) Seller does not owe any money or any type of consideration, monetary,
like-kind or otherwise: (i) to any previous owner(s) of the Trademarks, or (ii) to any party as a result of Seller’s use and/or Exploitation of the Trademarks and/or Assets. 

7.8 License/Distribution or Other Contracts. 

(a) Schedule 7.8 sets forth a true, complete and accurate list of all of the Licenses. 

(b) Seller has made available to the Buyer true and complete copies of all Licenses. The Licenses are fully assignable without consent (or
Seller has obtained any consent as of the Closing) and are the valid and enforceable obligations of the Seller, and, the other parties thereto, and upon consummation of the transactions contemplated by this Agreement, no other party to any such
License shall have the right to terminate any such License solely as a result of the transactions contemplated hereby and each License will continue to be valid and enforceable and in full force and effect on terms identical to those in effect
immediately prior to the consummation of the transactions contemplated hereby. No licensee under any License (each, a “Licensee”) has materially or consistently failed to make any payments required thereunder when due. To the
knowledge of Seller, no Licensee has granted to any third Person any rights granted to such Licensee pursuant to a License. Each License is in full force and effect and Seller has not committed any material breach or default thereunder and, as of
the date hereof, to the knowledge of Seller, no other party to any such License is in default thereunder, nor, has there occurred any event which, with notice, lapse of time or both, would constitute a default by Seller thereunder. As of the Closing
Date, Seller does not owe any amounts under any License. All rights under the Licenses extending beyond the Closing Date are assignable to Buyer without (x) the consent (except for any consent(s) which have been obtained at or before the
Closing) of any Person or (y) the payment of any penalty, the incurrence of any additional obligation or the change of any material term. Seller has made available to Buyer current drafts of all proposed agreements that are the subject of
active negotiations by Seller as of the date hereof and that would, if executed by Seller on or prior to the date hereof, constitute a License. 

  
 9 

 (c) As of the date hereof, since January 1, 2014, no Licensee has cancelled or otherwise
terminated, or, threatened in writing to cancel or otherwise terminate, its relationship with the Business or has materially decreased its ongoing commercial relationship with the Business. As of the date hereof, since January 1, 2014, no
Licensee has notified Seller in writing of any insolvency proceedings of any kind, the inability to pay its debts as they become due, bankruptcy, receivership, reorganization, assignment for the benefit of its creditors, composition or arrangement
with creditors, voluntary or involuntary, affecting such licensee, its business or any License, and, to the knowledge of Seller, no such actions are pending or threatened. Since January 1, 2014, Seller has not received written notice, from a
Licensee to the effect that such licensee (i) is currently in breach of or intends to breach a License; (iii) claims that a License has been breached by any other party thereto which would prejudice, in any material respect, the rights of
Seller under such License; or (iv) currently intends to exercise its right, if any, to terminate its License. As of the date of this Agreement, no licensee is renegotiating any amount paid or payable to Seller under any License. 

(d) Seller has used commercially reasonable efforts to examine, monitor or otherwise police, to the extent deemed prudent by Seller and in
accordance with the customary practices in the industry in which the Business operates, the activities of all of the Licensee counterparties under the Licenses to verify that the products manufactured, sold or offered for sale with respect to the
Trademarks licensed to such Licensees pursuant to the Licenses meet, in all material respects, the quality control standards and requirements for use of the Trademarks set forth in such Licenses. 

(e) No commission, fee or other payment is payable by Seller to any third party under any License following the Closing Date. No Licensee is
an owner or Affiliate, directly or indirectly, of Seller. 
 7.9 Historical Sales. Schedule 7.9 sets forth historical royalty
revenue for the calendar years of 2013, 2014 and 2015 (the “Historical Sales”). The Historical Sales are complete, true and accurate in all respects other than immaterial inaccuracies. 

7.10 Taxes. All Taxes due and payable by Seller with respect to the Assets have been paid in full. 

7.11 Absence of Certain Changes. Except as set forth in Schedule 7.10, and except for matters relating to the transactions
contemplated by this Agreement, since December 31, 2015 and until the date of this Agreement, there has not been any Material Adverse Effect. Except as set forth on Schedule 7.10, since December 31, 2015 and until the date of this
Agreement: 
 (a) there has not been any material loss, damage or destruction to, or any material interruption in the use of, any of the
Assets; 
 (b) Seller has not amended or terminated, or waived any material right or remedy under, any License; 

  
 10 

 (c) except for actions taken in the ordinary course of business, Seller has not (x) leased
or licensed any material Assets to any other Person, or (y) waived or relinquished any right, except for an immaterial right or other immaterial asset, that is an Asset; 

(d) Seller has not made any pledge of any of its Assets or otherwise permitted any of its Assets to become subject to any Lien other than a
Permitted Lien; 
 (e) Seller has not commenced or settled any Proceeding, or received any written notice that any Person was commencing or
threatening to commence a Proceeding against the Assets; and 
 (f) Seller has not agreed or committed to take any of the foregoing
actions. 
 7.12 Affiliate Transactions; Other Activities. Except as set forth on Schedule 7.12 (the “Affiliate
Agreements”), there are currently no Contracts concerning the Transferred IP between or among a Seller and any current or former Affiliate, member, owner, shareholder, partner, director, manager, or officer of such Seller. 

7.13 Brokers. Except for fees and expenses of Seller with respect to Guggenheim Securities, neither Seller nor any of its Affiliates
has retained any broker or finder, made any statement or representation to any person which would entitle such person to, or agreed to pay, any broker’s, finder’s or similar fees or commissions in connection with the transactions
contemplated by this Agreement. 
 7.14 Sale of BSI Assets. The transactions contemplated by this Agreement, upon Closing, represent
a sale of all or substantially all of the assets of BSI. 
 7.15 No Other Representations or Warranties. Except for the
representations and warranties contained in this Section 7 (including the Schedules hereto), neither Seller nor any other Person makes any other express or implied representation or warranty with respect to the Business, the Assets or
the transactions contemplated by this Agreement. 
 8. REPRESENTATIONS OF BUYER. Buyer represents, warrants and covenants to
Seller as of the date hereof and on the Closing Date as follows: 
 8.1 Organization of Buyer. Buyer is a limited liability company
duly organized, validly existing and in good standing under the laws of the State of New York, and entitled to own its assets and properties and to carry on business where such business is now being conducted. 

8.2 Authorization of Transaction. Buyer has all requisite power and authority to execute and deliver this Agreement and each
Transaction Document required to be executed or delivered by Buyer and any and all instruments necessary or appropriate in order to perform its obligations under this Agreement. This Agreement has been duly authorized, executed and delivered by all
necessary action on the part of Buyer, and constitutes a valid and legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms and conditions, except as may be limited by laws regarding bankruptcy or insolvency or
creditors’ rights generally or by principles of equity. 

  
 11 

 8.3 Non-Contravention. Neither the execution, delivery and performance of this Agreement
or the Transaction Documents nor the consummation of the transaction contemplated by this Agreement by Buyer shall (a) violate any Law as to which Buyer is subject, (b) violate any provision of the organizational documents of Buyer,
(c) conflict with, result in a breach of, constitute a default (or an event which with notice, lapse of time or both would constitute a default) under, result in the acceleration of, create in any party the right to accelerate, terminate,
modify, or cancel, or require any notice under any Contract or other document to which Buyer is a party or by which it is bound, or (d) violate any Order applicable to Buyer, except in the case of clauses (a) or (c), where the conflict,
breach, default, acceleration, termination, modification, cancellation or failure to give notice would not prevent the consummation of the transactions contemplated hereby. Buyer is not required to give any notice to, make any filing with, or obtain
any authorization, consent, or approval of any Governmental Entity in order for the parties to consummate the transactions contemplated by this Agreement. 

8.4 No Other Representations or Warranties. Except for the representations and warranties contained in this Section 8,
neither Buyer nor any other Person makes any other express or implied representation or warranty with respect to itself or transactions contemplated by this Agreement. 

9. POST-CLOSING COVENANTS 

9.1 Use of Trademark. After the Closing Date, except as otherwise expressly set forth in this Agreement or as permitted by the License
Agreement or any other written agreement executed by Seller and Buyer, Seller shall not sell, directly or indirectly, any products or services of any kind in connection with the Trademarks, any variation of the Trademarks, or anything confusingly
similar thereto. 
 9.2 Public Announcements. No public disclosure (whether or not in response to any inquiry) of the existence of
any subject matter of, or the terms and conditions of, this Agreement shall be made by any party hereto unless approved by Buyer, BB Management and Seller in writing prior to release unless required by Law, legal process, applicable stock exchange
rule or any listing agreement; provided, however, that, to the extent legally permissible, Buyer and Seller will give prior notice to the other party of the content and timing of any press release or other public statement required by Law, legal
process, applicable stock exchange rule or any listing agreement. 
 9.3 Allocation of Royalty Payments, Advances, Etc. Seller and
Buyer shall endeavor in good faith to reconcile any and all royalties (including advertising royalties) or other fees, compensation or other amounts solely with respect to the license of the Trademarks (collectively, “License Royalty
Amounts”) received pursuant to any License in accordance with this Section 9.3. In furtherance of the foregoing, regardless of the period that any such License Royalty Amount relates, all License Royalty Amounts paid on or after
the Closing Date shall be the property of Buyer, and Seller agrees to forward and pay over to Buyer, promptly following receipt thereof, any and all License Royalty Amounts that any Person party to a License pays to

  
 12 

 
Seller on or after the Closing Date under any License (by way of example only, if a License Royalty Amount is paid by a Person party to License on July 30, 2016, which payment relates the
prior calendar quarter of April 1, 2016 through June 30, 2016, that entire payment would be the property of Buyer even though portions of such payment relate to periods prior to the Closing Date). For the avoidance of doubt, the foregoing
shall not apply to any amounts received by Seller under a License with respect to the manufacture and supply of products bearing the Trademarks or any related services, prior to, on or after the Closing Date, and Seller shall be entitled to retain
the entirety of such amounts or if received by Buyer, Buyer shall promptly remit to Seller any such amounts; provided, however, that, for the purposes of clarity, the foregoing shall not apply to royalties (including advertising royalties). 

9.4 Retained Distribution Agreements; New Buyer Agreements. 

(a) As soon as reasonably practicable following the Closing (but in no event later than ninety (90) days following the Closing Date),
pursuant to a letter, in substantially the form attached hereto as Exhibit A, Seller shall notify the counterparty to each Retained Distribution Agreement that the Trademarks have been transferred to Buyer as of the Closing Date and that the
licensor of such Trademarks under such Retained Distribution Agreement is replaced by Buyer as of the Closing Date. In addition, from and after the date of the Closing, with respect to each Retained Distribution Agreement, each of Buyer and Seller
shall, or shall cause its applicable Affiliates to, use best efforts to work together in good faith to negotiate a new Contract with the counterparty to such Retained Distribution Agreement (which may be in the form of an amendment or novation to
the Retained Distribution Agreement) for the benefit of Buyer (each, a “New Buyer Agreement”) so that the subject matter of such New Buyer Agreement relates solely to the license of the Trademarks and any rights (including trademark
enforcement rights), restrictions and obligations of the contract parties related thereto. In connection with the foregoing, Seller shall either remain a party to the Retained Distribution Agreement, as amended by the New Buyer Agreement, or enter
into a new Contract with the counterparty to the Retained Distribution Agreement for the benefit of Seller which shall relate solely to the design, manufacturing, marketing, distribution and supply of products and the payments between Seller and the
counterparty with respect thereto, and all other terms unrelated to the license of the Trademarks or any rights (including trademark enforcement rights), restrictions and obligations related thereto. For the avoidance of doubt, each such New Buyer
Agreement shall be deemed a “License” hereunder. The Parties intend, and will work together in good faith, to finalize and execute all New Buyer Agreements within six (6) months of the Closing Date. 

(b) Until such time as a New Buyer Agreement is executed, with respect to each Retained Distribution Agreement, Seller shall, or shall cause
its applicable Affiliates to, (i) promptly inform Buyer in writing of any breach under such Retained Distribution Agreement, (ii) prior to commencing any litigation or retaining counsel, promptly inform Buyer in writing of an intent to
commence any litigation against a licensee under such Retained Distribution Agreement or to retain of counsel to defend any claim, demand or litigation with respect thereto, and (iii) continue to use best efforts to negotiate a New Buyer
Agreement. Notwithstanding the foregoing, upon receipt of notice of breach of the license granted with respect to any Transferred IP under any License (or of any related rights, restrictions or obligations thereto), Buyer shall have the right (and
Seller shall grant Buyer such 

  
 13 

 
right), at Buyer’s sole cost and expense, to enforce any contractual trademark protection rights under such License; provided, however, that Buyer may not terminate a License without the
prior written consent of Seller. 
 (c) Seller shall not change the scope of the Trademark license or otherwise expand the rights to use
the Trademarks granted under any Retained Distribution Agreement without the prior written consent of Buyer (which consent shall not be unreasonably withheld, conditioned or delayed). 

9.5 Retained URLs; Media Accounts. As set forth in Section 2, Seller retains all right, title, and ownership in and to the
Retained URLs and the Media Accounts. Notwithstanding the foregoing, Seller shall comply with the following obligations with respect to the use of the Retained URLs and the Media Accounts: 

(a) Seller agrees to maintain registration of the Retained URLs and the Media Accounts and shall be responsible for all renewal costs
associated therewith, if any. Notwithstanding the foregoing, Seller shall have the right to, on at least ninety (90) calendar days’ advance written notice to Buyer, discontinue the renewal and maintenance of the Retained URLs or any Media
Account; provided that, upon receipt of such written notice, Buyer shall have the right to continue renewal and maintenance (and assume ownership and use) of the Retained URLs or Media Account, as applicable, in its own name at its own
expense, in which event all rights in and to the Retained URLs or Media Account, as applicable, will transfer to Buyer, and Seller will reasonably cooperate with Buyer at Buyer’s expense, and subject to the license rights granted to Seller
under the License Agreement (other than with respect to Seller’s failure to renew or maintain www.bebe.com which would result in the termination of such license rights), as necessary to corroborate and document that transfer. 

(b) Except with Buyer’s prior written consent and except as otherwise set forth in the License Agreement and the Operating Agreement,
Seller will not assign, sell, transfer, or convey, or purport to assign, sell, transfer, or convey, the Retained URLs or any Media Account to any third party (other than a wholly-owned subsidiary of Seller which expressly assumes the obligations of
Seller under the License Agreement). In the event that Seller attempts to assign, sell, transfer, or convey any Retained URL or Media Account to a third party (other than a wholly-owned subsidiary of Seller which expressly assumes the obligations of
Seller under the License Agreement), such assignment, sale, transfer or conveyance shall be null and void. 
 (c) Notwithstanding that
Seller shall retain ownership of the Retained URLs subject to the terms of this Agreement and the License Agreement (including, without limitation, Buyer’s removal of such rights in accordance with this Agreement and the License Agreement),
Seller acknowledges and understands that ownership of the Retained URLs independent from the License Agreement shall not permit or grant Seller (or any subsequent owner of such Retained URLs) any rights with respect to Exploitation (in any manner)
of any products or services in connection with the Transferred IP (or any other use of the Transferred IP) through the Retained URLs, as any such rights of Exploitation and use of the Transferred IP to Seller arise solely as a grant under the
License Agreement (and may only be further granted by Buyer, in its sole and absolute discretion, in the event the License Agreement is terminated or any rights are removed in accordance with the License Agreement). 

  
 14 

 (d) Buyer may, at its sole cost and expense, reasonably request that Seller make additions or
add posts to the Media Accounts in connection with Buyer’s business, including for the benefit of a licensee of Buyer, in connection with the launch of a new product or otherwise, and Buyer and Seller shall cooperate in good faith in accordance
with the foregoing. 
 9.6 Reports. Seller will, on a quarterly basis, no later than five (5) days after the end of each
calendar quarter, deliver a written report to Buyer, in a format reasonably agreed upon by Buyer and Seller, specifying the following information: (i) for each Retained URL, the registrar of that Retained URL, and the renewal and/or expiration
date of that Retained URL; and (ii) for each Media Account, the media platform for that Media Account, the URL for that Media Account, and the renewal and/or expiration date of that Media Account (if applicable). In addition, Seller shall
provide Buyer with written notice, including reasonable detail, promptly following the receipt of written notice of a Proceeding involving any of the Retained URLs or the Media Accounts or otherwise becoming aware of any matter adverse to any of the
Retained URLs or materially adverse to any of the Media Accounts. 
 9.7 Transfer of Ownership Upon Certain Events. Section 16.3
of the License Agreement is hereby incorporated by reference and Buyer shall have all rights set forth therein, including with respect to the ownership of the Retained Distribution Agreements, Retained URLs and Media Accounts upon termination of the
License Agreement or termination of Seller’s rights pursuant to Section 5 thereof. In addition, in the event that Seller is no longer Solvent, the Retained Distribution Agreements, Retained URLs and all Media Accounts shall be deemed
immediately transferred to Buyer (and Seller shall cooperate, at Buyer’s sole cost and expense, to ensure that such Retained Distribution Agreements, Retained URLs and Media Accounts are promptly officially transferred of record to Buyer). Any
such assignments, transfers or conveyances shall be without further consideration other than the mutual covenants contained in this Agreement and the consideration paid by Buyer as set forth herein shall be deemed to include these assignments,
transfers and conveyances (and the parties acknowledge the sufficiency of such consideration). In the event that any Retained URLs and Media Accounts are transferred to Buyer under this Agreement, Seller shall provide Buyer with the username,
password, and other information necessary to access the accounts used to register and maintain the Retained URLs or used to maintain and operate the Media Accounts, as applicable. 

9.8 Design License. Seller hereby grants to Buyer a perpetual, irrevocable, non-exclusive, worldwide, fully paid-up license and right
to use (and to authorize its licensees, sublicensees and assignees to use), and Seller shall grant Buyer reasonable access to, all designs, artwork, photography, samples, marketing materials, images, labels, brand books or other archival materials
(collectively, “Designs”) owned or under the control of Seller at any time prior to the Closing or thereafter prior to the termination of the License Agreement, provided that such use shall only be in connection with the Transferred
IP. In the event of the termination of the License Agreement, the license and right granted by Seller to use the Designs as provided in this Section 9.8 shall continue, provided that, Seller’s obligation to provide access to such
Designs following such termination shall be limited to using commercially reasonable efforts to grant Buyer reasonable access to any such Designs owned or under the control of Seller at any time prior to such termination. 

  
 15 

 10. SURVIVAL. 

(a) Except to the extent a different period is expressly set forth herein, the representations and warranties contained in this Agreement
shall survive the Closing and shall terminate on the date which is eighteen (18) months after the Closing Date; provided that the representations and warranties set forth in Sections 7.1 (Organization of Seller), 7.2
(Authorization of Transaction), 7.4 (Creditors; Bankruptcy, Etc.), 7.6 (Title to Assets), 7.7(a) (Ownership of Intellectual Property), 7.10 (Taxes), 7.13 (Brokers), Section 7.14 (Sale of BSI
Assets), 8.1 (Organization of Buyer) and 8.2 (Authorization of Transaction) (collectively, the “Fundamental Representations”) shall survive until sixty (60) days after the expiration of the applicable statute
of limitations for the applicable underlying claim, including any extensions or waivers thereof. 
 (b) For the avoidance of doubt,
Section 9, this Section 10, Section 11 and all post-closing covenants and shall survive the Closing until all rights and obligations hereunder and thereunder shall have expired. In addition, any claims in
connection with actual fraud or intentional breach of covenant shall survive indefinitely. 
 11. INDEMNIFICATION. 

11.1 Indemnification by Seller. Subject to Section 11.5(c), Seller hereby agrees to indemnify, defend and hold Buyer, BB
Management and their respective Affiliates, members, managers, employees, agents, representatives, attorneys, successors and assigns (collectively “Buyer Indemnitees”) harmless from, against and in respect of, any and all claims,
demands, losses, costs, expenses (including reasonable attorneys’ fees and costs), actions, causes of action, judgments, liabilities and damages (collectively “Losses”), which any Buyer Indemnitee shall incur or suffer, arising
out of or in any manner occasioned by or relating to: (i) any Excluded Liability, (ii) any inaccuracy in or breach by Seller of any of its representations, warranties or covenants under this Agreement or in any exhibit or schedule hereto
or in any certificate delivered by Seller in connection herewith, or (iii) any liability that may be imposed upon Buyer or its Affiliates as a result of (A) the failure by Buyer or Seller (or its Affiliates) to comply with any bulk sales,
bulk transfer, fraudulent conveyance or similar Law of any jurisdiction that may be applicable to some or all of the transactions contemplated hereby, or (B) any Law (including any “Bulk Sales” Law) under which Buyer or any of its
Affiliates may have successor liability for any Tax or other liabilities of Seller. 
 11.2 Indemnification by Buyer. Buyer hereby
agrees to indemnify, defend and hold Seller and Seller’s Affiliates, officers, directors, shareholders, employees, agents, representatives, heirs, legal representatives, attorneys, successors and assigns (collectively “Seller
Indemnitees”) harmless from, against and in respect of, any and all Losses which any Seller Indemnitee shall incur or suffer, arising out of or in any manner occasioned by or relating to: (i) any Assumed Liability, or (ii) any
inaccuracy in or breach by Buyer of any of its representations, warranties or covenants under this Agreement or in any exhibit or schedule hereto or in any certificate delivered by Buyer in connection herewith. 

  
 16 

 11.3 Procedure for Indemnification. Any Person making a claim for indemnification under
Section 11.1 or 11.2 (an “Indemnitee”) shall notify the indemnifying party (an “Indemnitor”), if applicable, of the claim in writing promptly after receiving written notice of any Proceeding or
other claim against it (if by a third party), describing the claim, the amount thereof (if known and quantifiable) and the basis thereof. If a third-party action, suit, claim or demand is involved, then, upon receipt of the notice of indemnification
described in the first sentence of this Section 11.3, any Indemnitor shall be entitled to participate in the defense of such Proceeding or other claim giving rise to an Indemnitee’s claim for indemnification at such
Indemnitor’s expense, and at its option shall be entitled to assume the defense thereof with counsel reasonably satisfactory to the Indemnitee; provided that the Indemnitee shall be entitled to participate (but not control or make
decisions related thereto) in the defense of such claim and to employ counsel of its choice for such purpose at the Indemnitee’s expense and the Indemnitee shall cooperate in good faith in such defense. The Indemnitor may not settle any claim
without the Indemnitee’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed) unless (i) there is no finding or admission of any violation of Law or any violation of the rights of any Person,
(ii) the sole relief provided is monetary damages that are paid in full by the Indemnitor, and (iii) there is an unconditional release of the Indemnitee from all liability or obligation with respect to the claims asserted in such
Proceeding. If the Indemnitor elects not to undertake the good faith defense or settlement of the claim as aforesaid, then the Indemnitee shall have the right to contest, settle or compromise the claim at its exclusive discretion, at the risk and
expenses of Indemnitor, and to seek indemnification for any and all Losses arising from or related to such claim. 
 11.4 Limitations on
Amount. 
 (a) In no event shall the Buyer Indemnitees or Seller Indemnitees, as the case may be, be entitled to recover Losses from
Seller or Buyer, respectively, in the aggregate for any breach of the other party’s representations and warranties (i) until such time as the total amount of all Losses that have been directly or indirectly suffered or incurred by any one
or more of the Indemnitees, or to which any one or more of the Indemnitees has or have otherwise become subject, exceeds an amount equal to $50,000 (the “Deductible”) in the aggregate (it being understood that if the total amount of
such Losses exceeds the Deductible, then the Indemnitees shall be entitled to be indemnified against and compensated and reimbursed only for such Losses that are in excess of the Deductible); provided that this clause (i) shall not apply to
breaches of the Fundamental Representations; (ii) with respect to the Fundamental Representations, in excess of an amount equal to the Closing Payment; (iii) with respect to breaches of Section 7.7 (Intellectual Property), in
excess of $7,000,000; and (iv) with respect to all other representations and warranties under this Agreement or in any exhibit or schedule hereto or in any certificate delivered in connection herewith, in excess of $3,500,000. 

(b) Notwithstanding anything in this Section 11.4 to the contrary, the limitations set forth in this Section 11.4
shall not apply to Losses arising out of or related to (i) any Excluded Liability or (ii) actual fraud or intentional breach of covenant. 

(c) Absent actual fraud or breach of covenants by Seller, the indemnification provisions contained in this Section 11 are
intended to provide the sole and exclusive remedy following the Closing as to all Losses any Indemnitee may incur arising from or relating to breaches of the representations and warranties contained in this Agreement. 

  
 17 

 (d) Payments by an Indemnitor pursuant to Section 11.1 or Section 11.2
in respect of any Loss shall be limited to the amount of any liability or damage that remains after deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received by the Indemnitee in respect of any such
claim. The Indemnitee shall use its commercially reasonable efforts to recover under insurance policies or indemnity, contribution or other similar agreements for any Losses prior to seeking indemnification under this Agreement. 

(e) In no event shall any Indemnitor be liable to any Indemnitee for any punitive, incidental, consequential, special or indirect damages,
including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of this Agreement. 

(f) Each Indemnitee shall take, and cause its Affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware of any event
or circumstance that would be reasonably expected to, or does, give rise thereto. 
 11.5 Additional Agreements. 

(a) Each party shall have the right to rely fully upon the representations, warranties, covenants and agreements of the other party contained
in this Agreement. 
 (b) Notwithstanding anything to the contrary contained herein, solely for purposes of determining the amount of any
Losses (but not for purposes of determining breach) that are the subject matter of a claim for indemnification hereunder, each representation, warranty and other provision contained in this Agreement or in any exhibit or schedule hereto or in any
certificate delivered by Seller in connection herewith shall be read without regard and without giving effect to any materiality, “Material Adverse Effect” or knowledge standard or qualification contained in such representation or warranty
(as if such standard or qualification were deleted from such representation and warranty) (other than in Section 7.12, but not disregarding any reference to “materiality” contained in such representation or warranty). 

(c) Seller acknowledges that any Loss suffered by any Buyer Indemnitee under Section 11.1 shall result in a Loss suffered
indirectly by BB Management (whether as a result of being a member of Buyer or otherwise). 
 (d) The parties agree that any
indemnification payments made pursuant to this Agreement shall be treated for tax purposes as an adjustment to the Purchase Price, unless otherwise required by applicable Law. 

  
 18 

 12. DEFINED TERMS. Capitalized terms used and not otherwise defined herein shall
have the following meanings: 
 (a) “Affiliate” means, with respect to any Person, any other Person (a) that
directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person, (b) that is an employee, general partner, director, manager, trustee or principal officer of, or a limited
partner owning more than 10% of, or that serves in a similar capacity with respect to, such Person, or (c) of which such Person is an employee, general partner, director, manager, trustee or principal officer or a limited partner owning more
than 10% of, or with respect to which such Person serves in a similar capacity. For purposes of this definition, “control” means the possession, directly or indirectly, of the power to direct or to cause the direction of the management or
policies of the Person in question through the ownership of voting securities or by contract or otherwise. For the avoidance of doubt, neither Buyer nor Seller shall be considered an Affiliate of the other. 

(b) “Business Day” means any day other than a Saturday, a Sunday or a day on which banks in New York, New York, U.S., and,
in respect of payment to be made, notice to be served or other action to be taken in a jurisdiction other than in the State of New York, U.S., a day on which banks in such jurisdiction, are closed by law or action of any Governmental Entity. 

(c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Contract” means any written contract, agreement, indenture, note, bond, loan, instrument, lease, conditional sales
contract, mortgage, license, franchise, insurance policy, commitment or other binding arrangement or agreement. 
 (e) “Contract
Right” means any right, power or remedy under any Contract, including rights to receive property or services or otherwise to derive benefits from the payment, satisfaction or performance of another party’s obligations. 

(f) “Exploit” means, with respect to the Assets, to release, reproduce and distribute, perform, display, exhibit, broadcast
or telecast, license, or sell, market, create merchandising or otherwise commercially exploit by any and all known or new or future (a) technology, (b) uses, (c) media, (d) formats, (e) modes of transmission and
(f) methods of distribution, dissemination or performance. The meaning of the term “Exploitation” shall be correlative to the foregoing. 

(g) “GAAP” means United States generally accepted accounting principles. 

(h) “Governmental Entity” means any federal, national, state, foreign, provincial, local or other government or any
governmental, regulatory, administrative or self-regulatory authority, agency, bureau, board, commission, court, judicial or arbitral body, department, political subdivision, tribunal or other instrumentality thereof. 

(i) “Insolvency Proceeding” means, with respect to any Person, (i) a general assignment by such Person for the benefit
of its creditors or any proceeding instituted by or against such Person seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, dissolution, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it
or its debts under any law relating to bankruptcy, insolvency or reorganization 

  
 19 

 
or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or any substantial part of its property and, solely in
the case of any such proceeding instituted against such Person (but not instituted by such Person), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of the actions sought in such proceeding (including,
without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur or (ii) such Person shall take any
action to authorize any of the actions set forth in clause (i) above 
 (j) “knowledge of Seller”, “to the
knowledge of the Seller” or any similar phrase means such facts and other information which are actually known by Manny Mashouf and Walter Parks, after reasonable due inquiry, of those persons responsible for matters being represented. 

(k) “Law” means any law, rule, regulations, judgment, injunction, order, ordinance, statute, decree or other restriction of
any court or other Governmental Entity. 
 (l) “Liens” means any encumbrance, hypothecation, infringement, lien, deed of
trust, mortgage, easement, encroachment, pledge, restriction, security interest, option, title retention or other security arrangement, or any other adverse right or interest, charge or claim of a similar nature in or on any asset, property or
property interest. 
 (m) “Material Adverse Effect” means any change, effect, event, occurrence, state of facts or
development that, individually or in the aggregate, is, or would reasonably be expected to be, materially adverse to the business, operations, assets, liabilities, condition (financial or otherwise) or results of operations of the Assets taken as a
whole; provided, however, that none of the following shall be deemed in themselves, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or will be,
a Material Adverse Effect: any change, effect, event, occurrence, state of facts or development attributable to (i) the announcement or pendency of the transactions contemplated by this Agreement; (ii) conditions affecting the industry in
which the Business operates, the U.S. economy as a whole or the capital markets in general or the markets in which the Business operates; (iii) compliance with the terms of, or the taking of any action required or permitted by, this Agreement
or the taking of any action with the written consent of or at the written request of Buyer; (iv) any change in, or proposed or potential change in, applicable Laws or the interpretation thereof; (v) any change in GAAP or other accounting
requirements or principles or the interpretation thereof; and (vi) the commencement, continuation or escalation of a war, material armed hostilities or other material international or national calamity or act of terrorism; provided that,
in the case of clauses (ii), (iv), and (v) above, if such change, effect, event, occurrence, state of facts or development disproportionately affects the Business as compared to other businesses that operate in the industry
in which Business operates, then the disproportionate aspect of such change, effect, event, occurrence, state of facts or development may be taken into account in determining whether a Material Adverse Effect has or would reasonably be likely to
occur. 

  
 20 

 (n) “Media Accounts” means the social media accounts (e.g. Facebook, Twitter,
Pinterest, Instagram, Tumblr, Youtube, etc.) used in connection with the Trademarks existing as of or created following the date hereof. 

(o) “Permitted Lien” means (i) all Liens for current Taxes which are not yet due or delinquent or Taxes the validity of
which are being contested in good faith by appropriate proceedings, which amounts shall not exceed $5,000, (ii) all landlords’, workmen’s, repairmen’s, warehousemen’s and carriers’ Liens and other similar Liens imposed
by Law, incurred in the ordinary course of business for amounts which are not due or payable, which amounts shall not exceed $1,000, (iii) subject to the indemnity set forth in Section 11.1(i), licenses granted by Seller to the
Transferred IP prior to the Closing Date, including the Licenses and the Retained Distribution Agreements; or (iv) Liens that will be released and discharged at or prior to the Closing. 

(p) “Person” means any individual, corporation (including any non-profit corporation), general or limited partnership,
limited liability company, joint venture, estate, trust, association, organization, labor union, or other entity or Governmental Entity. 

(q) “Proceeding” means any action, arbitration, audit, claim, equitable action, hearing, investigation, litigation,
trademark opposition, cancellation action, cancellation action, administrative hearing or any other judicial or administrative proceeding of any kind or nature whatsoever, or suit (whether civil, criminal, administrative, judicial or investigative,
whether formal or informal, whether public or private) commenced, brought, conducted or heard by or before, or otherwise involving, any Governmental Entity or arbitrator, or any formal demand which might lead to any of the foregoing. 

(r) “Retained Distribution Agreements” means those distribution agreements of Seller or an Affiliate thereof set forth on
Schedule 12(r). 
 (s) “Retained URLs” means www.bebe.com, www.bebeoutlets.com and
www.2bstores.com. 
 (t) “Solvent,” with regard to any Person at any time, means that such Person is not subject to
an Insolvency Proceeding. 
 (u) “Tax” means (a) any foreign, federal, state or local income, earnings, profits,
gross receipts, franchise, capital stock, net worth, sales, use, value added, occupancy, general property, real property, personal property, intangible property, transfer, fuel, excise, escheat, unclaimed property, payroll, withholding, unemployment
compensation, social security, retirement, environmental (including any Taxes imposed under Section 59A of the Code) or other tax of any nature; (b) any foreign, federal, state or local organization fee, qualification fee, annual report
fee, filing fee, occupation fee, assessment, sewer rent or other fee or charges of any nature; or (c) any deficiency, interest or penalty imposed with respect to any of the foregoing. 

(v) “Tax Returns” means all returns and reports, amended returns, information returns, statements, declarations, estimates,
schedules, notices, notifications, forms, elections, certificates or other documents required to be filed or submitted to any Governmental Entity with respect to the determination, assessment, collection or payment of any Tax or in connection with
the administration, implementation or enforcement of, or compliance with, any Tax. 

  
 21 

 (w) “USPTO” means the United States Patent and Trademark Office. 

13. MISCELLANEOUS PROVISIONS. 

13.1 Notices. Any notice to be given hereunder to any party shall be given either by personal delivery or by sending such notice by
reputable overnight carrier, and addressed as follows: 
 To Seller: 

bebe stores, inc. 
 10345 West Olympic Blvd. 

Los Angeles, California 90064 
 Attn: President, Chief Operating
Officer 
 With a copy to: 
 400 Valley Drive 

Brisbane, California 94005 
 Attn: General Counsel 

Fax: 415-657-4424 
 With a further copy to: 

Latham & Watkins LLP 
 140 Scott Drive 

Menlo Park, California 94025 
 Attn: Tad J. Freese, Esq. 

Fax: 650-463-2600 
 To Buyer: 

BB Brand Holdings LLC 
 240 Madison Avenue, 15th Floor 
 New York, New York 10016 

Attention: Mr. Joseph Gabbay 
 Attention: Joseph S. Sutton,
Esq. 
 Fax: 212-290-1330 
 With a copy to: 

Blank Rome LLP 
 405 Lexington Avenue, 23rd Floor 
 New York, New York 10174 

Attn: Rustin I. Paul, Esq. 
 Fax: 212-885-5001 

  
 22 

 Any party hereto may, from time to time, by written notice to the others, designate a different
address, which shall be substituted for the one specified above. If any notice or other document shall be sent by registered or certified mail as herein provided, the same shall be deemed to have been effectively served or delivered one (1) day
following deposit of said notice in the United States mail in the manner set forth above prior to 5:00 p.m. at the location where deposited. Notices sent by reputable overnight courier shall be deemed to have been effectively served or delivered the
next Business Day following delivery to the courier. Notices hereunder may be given by a party’s attorneys. 
 13.2 Benefit.
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns. Notwithstanding the foregoing, neither Party shall, without the consent of the other
Parties hereto, have the right to assign any of its rights or delegate any of its obligations hereunder. 
 13.3 Neutral
Interpretation. This Agreement shall not be construed in favor of or against any party by reason of by whom it was drafted. Each of the parties acknowledges that he or it has read, understood and voluntarily entered into this Agreement after
having had the opportunity to consult with counsel and tax advisors of its or his choice. 
 13.4 Further Assurances. At any time,
and from time to time prior to or after the Closing, each of the parties hereto shall do any and all things and execute any and all documents necessary or reasonably requested to implement fully the intent and purposes of this Agreement. For clarity
and without limiting the generality of the preceding sentence, at any time, and from time to time after the Closing, upon request, Seller agrees to cooperate and sign any reasonably requested consents, powers of attorney, assignments or other
similar documents with respect to any existing trademarks or applications and/or any new trademarks being filed by or on behalf of Buyer in order to effect the transactions contemplated by this Agreement. 

13.5 Exhibits. All Exhibits and Schedules to this Agreement and any attachments thereto are hereby incorporated herein by this
reference. Any reference to this Agreement shall be deemed to include said Exhibits, Schedules and all attachments. 
 13.6 Non
Waiver. All rights and remedies of the parties hereto are separate and cumulative, and no one of them, whether exercised or not, shall be deemed to limit or exclude any other rights or remedies which the parties hereto may have. The parties
hereto shall not be deemed to waive any of their rights or remedies under this Agreement except by a duly executed written waiver. No delay or omission on the part of any party in exercising any right or remedy shall operate as a waiver of such
right or remedy or any other right or remedy. A waiver of any right or remedy on any one occasion shall not be construed as a bar to or waiver of such right or remedy on any future occasion. 

13.7 Governing Law. This Agreement shall be governed and interpreted in accordance with the laws of the State of Delaware, without
regard to its conflicts of laws 

  
 23 

 
principles. Any proceeding brought with respect to this Agreement must be brought in any court of competent jurisdiction in the State of Delaware and, by execution and delivery of this Agreement,
each party (i) accepts generally and unconditionally, the exclusive jurisdiction of such courts and any related appellate court, and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement (subject to
any right to appeal or to seek equitable relief with respect thereto) and (ii) irrevocably waives any objection it may now or hereafter have as to the venue of any such suit, act or proceeding bought in such a court or that such court is an
inconvenient forum. THE PARTIES HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING TO WHICH THEY ARE PARTIES INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT. 

13.8 Attorneys’ Fees. In the event any proceeding is brought with respect to this Agreement or any of the Transaction Documents,
the prevailing party or parties shall be entitled to have and recover from the other party or parties all costs and expenses, including reasonable attorneys’ fees and costs incurred in such proceeding and any appeal therefrom. The
“prevailing party” means the party determined by the judge to have most nearly prevailed, even if such party did not prevail in all matters, not necessarily the one in whose favor an award or decision is rendered. 

13.9 Confidentiality. Subject to the requirements of applicable law and regulations and except as permitted by Section 9.2,
each party to this Agreement shall maintain in confidence the provisions of this Agreement. Upon Closing, that certain non-disclosure agreement dated February 19, 2016 entered into between bebe and Bluestar Alliance LLC shall be deemed
terminated and of no further force or effect. 
 13.10 Entire Agreement. This Agreement together with the License Agreement and the
Operating Agreement (the “Transaction Documents”), and the other documents, exhibits and schedules referred to herein and therein, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof,
and supersede any and all prior oral and written, and all contemporaneous oral, agreements or understandings pertaining thereto. There are no agreements, understandings, restrictions, warranties or representations relating to such subject matter
among the parties other than those set forth herein, in the other Transaction Documents and in the other documents, exhibits and schedules referred to herein and therein. 

13.11 Expenses. Except as otherwise expressly set forth in this Agreement, each party shall bear its or his costs and expenses,
including attorneys’ fees, incurred in connection with the negotiation, documentation and closing of this Agreement and the transactions contemplated hereby. 

13.12 No Third Party Beneficiaries. Nothing in this Agreement is intended, nor shall be construed, to confer upon any person or entity
other than Seller, Buyer, BB Management and the other signatories to this Agreement any right or remedy under or by reason of this Agreement. 

13.13 Construction. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine,
feminine, or neuter forms, and the 

  
 24 

 
singular form of nouns, pronouns, and verbs shall include the plural form and vice versa. A reference to a party to this Agreement or a party to any other agreement or document includes such
party’s permitted successors and assigns. A reference to legislation or to a provision of legislation includes a modification or reenactment of it, a legislative provision substituted for it, and a regulation or statutory instrument issued
under it. A reference to a writing includes a facsimile or e-mail transmission of it. 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, and article, section, subsection, schedule, and exhibit references are to this Agreement unless otherwise specified. The word “including,” “include,”
“includes” and all variations thereof shall mean “including, without limitation.” The Parties have participated jointly in the negotiation and drafting of this Agreement. Unless otherwise specified, all references to a specific
time of day in this Agreement shall be based upon Eastern Standard Time or Eastern Daylight Saving Time, as applicable on the date in question in New York, New York. References to “$” or to “dollars” shall mean the lawful
currency of the United States of America. Time periods within or following which any payment is to be made or act is to be done shall be calculated by excluding the day on which the time period commences and including the day on which the time
period ends and by extending the period to the next Business Day following if the last day of the time period is not a Business Day. 

13.14 Joint and Several Obligations of Seller. The respective obligations and liabilities of each of bebe and BSI under this Agreement
and the other Transaction Documents shall be joint and several. 
 13.15 Severability. If any provision of this Agreement shall be
unlawful, void or unenforceable in whole or in part for any reason, such provision or such part thereof shall be deemed separable from and shall in no way affect the validity or enforceability of the remaining provisions of this Agreement. 

13.16 Headings. Headings contained in this Agreement are solely for the convenience of the parties hereto and shall not be deemed to or
be used to define, construe or limit any of the provisions hereof. 
 13.17 Amendment. This Agreement may not be amended, changed or
modified except by a writing signed by all of the parties hereto. 
 13.18 Counterparts/ Facsimile. This Agreement may be executed in
one or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument. Facsimile and scanned signatures shall be deemed original signatures and the parties agree that a facsimile or
scanned signature shall be followed by a manually signed original if requested by either party. 
 [SIGNATURE PAGE TO FOLLOW] 

  
 25 

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

			
	bebe stores, inc.
		
	By:	 	 /s/ Walter Parks

	Name:	 	Walter Parks
	Title:	 	President and Chief Operating Officer
	
	Bebe Studio, Inc.
		
	By:	 	 /s/ Walter Parks

	Name:	 	Walter Parks
	Title:	 	Treasurer
	
	BB Brand Holdings LLC
		
	By:	 	 /s/ Joseph Gabbay

	Name:	 	Joseph Gabbay
	Title:	 	Manager
	
	BB Brand Management LLC
		
	By:	 	 /s/ Joseph Gabbay

	Name:	 	Joseph Gabbay
	Title:	 	Manager

  
 [Signature Page to Asset
Purchase and Contribution Agreement]EX-10.3

 Exhibit 10.3 

EXECUTION VERSION 
 LICENSE
AGREEMENT 
 SCHEDULE 1 
  

			
	“Licensee”	  	 BEBE STORES, INC. / BEBE STUDIO, INC.
 10345
West Olympic Blvd.
 Los Angeles, California 90064

		
	“Licensed Marks”	  	The Trademarks identified on Schedule 2. “Trademarks” means registered, unregistered and common law trademarks, trade names, service marks, logos, and slogans.
		
	“Products”	  	Apparel products and related accessory products and services branded with the Licensed Marks, including without limitation all products and services being offered by the Licensee as of the Effective Date.
		
	“Term”	  	The Term shall commence as of the Effective Date and shall continue unless terminated in accordance with this Agreement.
		
	“Territory”	  	 “Exclusive Territory” means the United States of America (including all territories and possessions) and Canada.

 
 “Non-Exclusive Territory” means all countries outside of the Exclusive
Territory.

		
	“Designated Sales Channels”	  	 -“Branded Retail Stores” means retail stores leased and operated by Licensee which bear as their store name, exclusively, any of
the Licensed Marks in either (a) the specialty retail channel, including in malls, lifestyle center and street formats, or (b) in outlet centers.
  

- “Branded Website” means a branded e-commerce website operated by Licensee which shall only be utilized with any of the following 3 URL’s:
www.bebe.com, www.2bstores.com and/or www.bebeoutlets.com (the “Retained URLs”).

		
	Notice Address	  	 All notices shall be made either by hand delivery or by reputable overnight courier or certified or registered mail (return receipt
requested) and shall be deemed to be given upon delivery (in the case of hand delivery) or one (1) day following the date on which such notice is sent (in the case of delivery by overnight courier or mail), to the following addresses:

 
 For Licensor:

BB BRAND HOLDINGS LLC
 240 Madison Avenue, 15th Floor
 New York, New York 10016

Attn: Mr. Joseph Gabbay
 Attn: Joseph S Sutton, Esq.

 
 For Licensee:

BEBE STORES, INC. / BEBE STUDIO, INC.
 10345 West Olympic
Blvd.
 Los Angeles, California 90064
 Attn: President and Chief
Operating Officer
  
 With a copy to:

BEBE STORES, INC. / BEBE STUDIO, INC.
 400 Valley Drive

Brisbane, California 94005
 Attn: General Counsel

		
	Incorporation of Terms and Conditions	  	The Terms and Conditions set forth on this Schedule 1 shall be deemed fully incorporated into the Agreement and shall hereafter be collectively referred to as the Agreement.

  
 1 

 SCHEDULE 2 

Licensed Marks* 
 All Trademarks owned by
Licensor, including the following (in any font, color, size, style, design or similar variance): 
 BEBE 

bebe 
 bebe sport 

bbsp 
 BBSP 

bebe forever 
 bebe threads 

bebe addiction 
 2b bebe 

2be 
 bebe Boudoir 

bebe San Francisco 
 bebe essentials 

bebe jeans 
 bebe girls 

bebe kids 
 bebe home 

bebe Los Angeles 
 bebe LA 

bebe New York 
 bebe Studio 

bebe Collection 
 bebe Style 

 
 

 
  
 

 
  
 

 
  
 

 
  
  
  

 
  
 

 
  

	*	Future Derivatives of the Licensed Marks that are approved in accordance with Section 3 of this Agreement and any New Trademarks shall automatically be deemed included within the definition of “Licensed
Marks” and automatically licensed to Licensee pursuant to Section 1 of this Agreement. 

  
 1 

 EXECUTION VERSION 

LICENSE AGREEMENT 
 THIS
AGREEMENT (the “Agreement”) made as of June 8, 2016, (the “Effective Date”) by and between BB BRAND HOLDINGS LLC (“Licensor”), and BEBE STUDIO, INC. / BEBE STORES, INC.,
(“Licensee”), each with offices at the address set forth on Schedule 1. 
 In consideration of the mutual covenants
hereinafter set forth, Licensor and Licensee do hereby respectively grant, covenant and agree as follows: 
 1. Grant of Licenses 

1.1. During the Term, subject to the other terms and conditions of this Agreement: 

(a) Licensor hereby grants to Licensee a non-transferable (except as set forth in Section 20 below), non-sublicensable (except in
accordance with this Section 1.1(a) and Section 1.1(d) below), royalty-free, fully-paid, perpetual and irrevocable (except as otherwise expressly set forth in this Agreement) license (i) which will be exclusive throughout the
Exclusive Territory to operate Branded Retail Stores and Branded Websites; (ii) to otherwise conduct Licensee’s business, which also consists of designing, marketing, advertising, manufacturing, producing, sourcing, distributing and
selling apparel, related accessories and other products and related services only through the Designated Sales Channels (collectively with operating the Branded Retail Stores and Branded Websites, the “Business”); (iii) subject
to Section 2 below, throughout the Non-Exclusive Territory to non-exclusively operate Branded Retail Stores and to otherwise conduct the Business solely through Branded Retail Stores in the Non-Exclusive Territory; (iv) throughout the
Non-Exclusive Territory to fulfil any orders for Products purchased through Branded Websites by consumers that reside in the Non-Exclusive Territory or by consumers who request for such Product(s) to be shipped to the Non-Exclusive Territory;
(v) to continue to fulfil obligations relating to the supply of Products to the “licensees” under the Licenses that Licensee has assigned to Licensor under the Asset Purchase and Contribution Agreement among Licensee, Licensor, and BB
Brand Management LLC dated as of June 8, 2016 (the “APA”); (vi) without expanding any rights granted under any Retained Distribution Agreements (as defined in the APA), to continue to exercise rights with respect to the
Retained Distribution Agreements as set forth in the APA, subject to Licensor’s enforcement rights as set forth in the APA, and fulfil obligations under any Retained Distribution Agreements applicable to the Non-Exclusive Territory in existence
as of the Effective Date, provided that Licensee acknowledges and understands that, subject to the Licenses and Retained Distribution Agreements, Licensor shall also have the right to sell (or to grant other parties the right to sell) Products
(other than ready-to-wear apparel and sportswear) to any “licensee” party under the Licenses or any Retained Distribution Agreement (or to Licensee for sale through the Branded Retail Stores or Branded Website); and (vii) to permit
Licensee’s affiliates to conduct the foregoing activities on Licensee’s behalf; provided that any such permission shall not relieve Licensee of its obligations hereunder. For clarity, Licensee agrees not to advertise and/or promote Branded
Websites specifically in or targeted to the Non-Exclusive Territory. Further, Licensor acknowledges and agrees that the foregoing license permits Licensee, on a non-exclusive basis, to manufacture, produce and source Products for sale to any of
Licensor’s authorized international distributors or licensees in the Non-Exclusive Territory that have a license agreement with Licensor regarding the Licensed Marks. 

(b) To the extent that Licensor acquires or creates any additional Trademarks that are (i) derived from any of the Licensed Marks or
(ii) that are otherwise used or held for use in the business operated by Licensor or its licensees (other than Licensee) that use or incorporate the Licensed Marks (any such Trademark, a “New Trademark”), the license granted in
subsection (a) above shall automatically extend to any and all such New Trademarks and such New Trademarks shall be deemed part of the “Licensed Marks” and licensed under the terms of subsection (a). 

(c) Licensor hereby grants Licensee a non-exclusive, non-transferable (except as set forth in Section 20 below), non-sublicensable
(except in accordance with Sections 1.1(a) and (d)), worldwide, perpetual, irrevocable, royalty-free, fully-paid license, to use, reproduce, create derivative works, perform, display, distribute, and transmit any Licensor Intellectual Property (as
defined in Section 13.3 below) only in connection with the conduct of the Business in accordance with terms of subsection (a) above. Collectively, the Licensed Marks and the other Licensor Intellectual Property licensed under this
Agreement shall be deemed the “Company IP.” 
 (d) Licensee shall have the right to use third-party contractors, vendors
and service providers in connection with Licensee’s operation of its Business, including for purposes of designing, manufacturing, producing, marketing, advertising, and sourcing Products on Licensee’s behalf, which Products shall only be
sold by Licensee in accordance with subsection (a) above. Licensor’s prior approval of a contractor shall not be required, but any contractor engaged (or already engaged) by Licensee must abide by Licensee’s code of conduct standard,
as set forth in Exhibit A 

  
 1 

 
or a similar code of conduct (a “Code of Conduct”). In the event any contractor breaches the Code of Conduct and does not cure such breach, Licensor may request that Licensee not
utilize such contractor from and after such time in connection with the Licensed Marks. 
 (e) Licensor acknowledges and agrees that nothing
in this Agreement shall limit Licensee’s rights to design, manufacture, produce, source, distribute or sell any products in any territory or sales channel that do not use or incorporate the Licensed Marks, any variation of the Licensed Marks or
any marks confusingly similar to the Licensed Marks. In addition, except as otherwise expressly set forth in this Agreement, Licensor acknowledges and agrees that except as necessary to maintain rights in the Company IP, this Agreement will not
require any other approvals from Licensor relating to inclusion of the Company IP, including with respect to the production and sale of Products incorporating or using the Company IP or in advertising and marketing materials, provided that Licensee
shall not include the Company IP on products, in advertising and/or in marketing materials in a manner reasonably deemed detrimental to Licensor and/or the Licensed Marks in any material respect. 

2. Right of First Refusal. 
 2.1. With
respect to any country in the Non-Exclusive Territory which is not covered by any of the Licenses or Retained Distribution Agreements, Licensee may (i) own and/or operate new or existing stores and use the Company IP in connection therewith and
(ii) sell Products to any “licensee” party under the Licenses or any Retained Distribution Agreement existing at such time (whether or not such “licensee” party pays a royalty to Licensor). In the event Licensor decides to
sign a license/distribution agreement granting rights to operate branded retail stores which are branded with the Licensed Marks (that will include payment of royalties) in any country in the Non-Exclusive Territory in which there is no License or
Retained Distribution Agreement, then Licensee shall have a right of first refusal as set forth in Section 2.3 below to match the Major Terms (as defined in Section 2.3) of a bona-fide, commercially reasonable offer, otherwise Licensor
shall be able to sign such licensee/distributor on the same Major Terms offered to Licensee and Licensee shall not have any rights with respect to such country (including the rights set forth in (i) and (ii) herein). If a potential
licensee/distributor in a particular country agrees to different Major Terms than those offered to Licensee, Licensor agrees to provide such new Major Terms to Licensee and Licensee shall have an additional right to elect to accept such terms for
such country. 
 2.2. With respect to any country covered by a Retained Distribution Agreement in the Non-Exclusive Territory, Licensor
shall not sign any license or distribution agreements granting rights to operate branded retail stores which are branded with the Licensed Marks, or that otherwise conflict with the rights previously granted by Licensee to the counterparty to the
applicable Retained Distribution Agreement, with respect to such country unless (i) the Licensee’s current licensee/distributor under such Retained Distribution Agreement materially breaches such Retained Distribution Agreement and either
the breach is not cured within 60 days or Licensee is unable to successfully renegotiate such Retained Distribution Agreement with such licensee/distributor within 60 days or (ii) a Retained Distribution Agreement expires or is otherwise
terminated by either party thereto and Licensee is unable to extend or renew such Retained Distribution Agreement with such licensee/distributor within 45 days of such expiration or termination. If the foregoing conditions are satisfied, Licensor
agrees to provide Licensee the same right of first refusal as set forth in Section 2.1 above. 
 2.3. Licensor shall notify Licensee in
writing prior to proceeding with any potential license or distribution agreement granting rights to operate branded retail stores which are branded with the Licensed Marks in the Non-Exclusive Territory and such notice shall contain the material
financial and other material terms of the proposed license (e.g. guaranteed minimum royalty, etc.) (the “Major Terms”). Within ten (10) days of the date of such notice from Licensor, Licensee shall have the right to match such
offer by providing written notice to Licensor. Within thirty (30) days of Licensee’s notice agreeing to match such offer, the parties will negotiate promptly in good faith to amend this Agreement (or to execute a new agreement) with
respect to such country. In the event Licensor and Licensee do not reach a definitive amendment or new agreement within thirty (30) days from the date of Licensee’s notice agreeing to match such offer or in the event that Licensee elects
not make a written offer to match the proposed license with respect to any such country (or Licensee does not timely respond to Licensor’s notice with respect to such country), Licensor shall be permitted to pursue such country via such license
on the same Major Terms as proposed to Licensee, and, once Licensor has executed a bona fide license agreement with a royalty-paying licensee, and for so long as such agreement remains in effect, Licensee shall have no further rights under
Section 1.1(a)(ii) to operate Branded Retail Stores with respect to such country and shall have no further rights of first refusal under this Section 2 with respect to such country. 

2.4. For clarity, Licensee understands and acknowledges that the rights of first refusal set forth in this Section 2 shall not apply:
(i) in connection with Licensor’s exploitation of wholesale rights that do not conflict with rights granted to counterparties under existing Retained Distribution Agreements in connection with the Licensed Marks in the Territory, or
(ii) in connection with Licensor’s rights set forth in the proviso at the end of subsection (vi) of Section 1.1(a). 

  
 2 

 3. Reservation of Rights. Licensor reserves all rights with respect to the Licensed Marks or otherwise
except as specifically and expressly set forth in this Agreement. Without limiting the generality of the preceding sentence, and except for any rights currently granted (and still in effect at such time) in any of the Licenses, Retained Distribution
Agreements and any of the rights granted to Licensee under Section 1 above, the rights granted to Licensee in this Agreement shall expressly exclude: (a) any rights in connection with the distribution and exploitation at wholesale (e.g.
through any channels outside of the Designated Sales Channels) of any Products bearing the Licensed Marks in the Territory, and (b) the manufacture, advertisement, promotion, distribution or other exploitation solely in connection with such
wholesale rights (unless Licensor or its authorized licensees separately engage Licensee to undertake such activities). Subject to (i) any rights currently granted (and still in effect at such time) in any of the Licenses, Retained Distribution
Agreements, (ii) the rights granted to Licensee under this Agreement, and (iii) to any restrictions to which Licensor is subject under that certain Amended and Restated Limited Liability Company Operating Agreement of BB Brand Holdings LLC
dated June 8, 2016, Licensee further acknowledges that Licensor may directly, or grant rights (including, without limitation, exclusive rights) to third party(ies) (or to retailers) to, manufacture, advertise, market, promote, distribute, sell
and/or otherwise exploit Products bearing the Licensed Marks in the Territory for wholesale distribution (by way of example only, through brick-and-mortar retailers or Internet retailers, etc. other than the Branded Retail Stores). For clarity,
Licensee acknowledges and agrees that shop-in-shops are deemed part of wholesale rights. 
 4. Branded Retail Stores. 

4.1. All Branded Retail Store locations and designs shall be consistent with the reputation and quality of the Licensed Marks, which such
quality level shall be deemed to be substantially the level in existence during the 12-month period prior to the Effective Date unless otherwise mutually agreed by the parties. The rights being granted with respect to Branded Retail Stores are that
of a license for use and not a franchise, and the parties do not intend to, nor should these rights for Branded Retail Stores be construed to, create a franchisor/franchisee relationship. The Branded Retail Stores in the Exclusive Territory must
each carry at least 10% Products branded with the Licensed Marks (the “Retail Minimum Product Threshold”), provided that in the event that Licensee fails to maintain the Retail Minimum Product Threshold, then Licensee’s rights in the
Exclusive Territory with respect to Branded Retail Stores shall become non-exclusive from and after such time. 
 4.2. During the First
Annual Period and Second Annual Period, Licensee shall be required to have a minimum of fifty (50) Branded Retail Stores open and operational in the Exclusive Territory, with at least five (5) of those Branded Retail Stores being
mainline/flagship stores. If at any time during the First Annual Period or Second Annual Period, Licensee fails to have at least fifty (50) Branded Retail Stores open and operational in the Exclusive Territory or at least five
(5) mainline/flagship Branded Retail Stores open and operational in the Exclusive Territory, Licensee shall be in material breach of this Agreement and Licensor shall have right to terminate this Agreement upon written notice to Licensee if
such applicable minimum threshold is not restored within ninety (90) days of the date of written notice from Licensor. 
 4.3. During
the Third Annual Period and Fourth Annual Period, Licensee shall be required to have a minimum of twenty-five (25) Branded Retail Stores open and operational in the Exclusive Territory, with at least five (5) of those Branded Retail Stores
being mainline/flagship stores. If at any time during the Third Annual Period or Fourth Annual Period, Licensee fails to have at least twenty-five (25) Branded Retail Stores open and operational in the Exclusive Territory or at least five
(5) mainline/flagship Branded Retail Stores open and operational in the Exclusive Territory, Licensee shall be in material breach of this Agreement and Licensor shall have right to terminate this Agreement upon written notice to Licensee if
such applicable minimum threshold is not restored within ninety (90) days of the date of written notice from Licensor. 
 4.4. Licensor
has no obligation under any lease whatsoever, including, but not limited to, unexpired lease term existing at the time of termination or removal of Branded Retail Store rights, lost sales, associated expenses, etc. All costs and risks associated
with selecting and securing a location and opening and operating any Branded Retail Store, including, but not limited to, key money, insurance and construction costs, employee costs, etc. shall be entirely borne by Licensee. Licensee understands and
assumes all risks associated with the selection of the location, construction and maintenance of any Branded Retail Store and the operation and profitability, or lack thereof, of any Branded Retail Store. 

  
 3 

 5. Branded Website. 

5.1. The Branded Websites shall not specifically target customers outside of the Exclusive Territory (but may fulfil sales outside of the
Exclusive Territory in accordance with Section 1.1(a)(iii) of this Agreement). The Branded Websites shall be an e-commerce site with a technological and presentation standard commensurate and appropriate with the quality level in connection
with the Licensed Marks, which such quality level shall be deemed to be substantially the level in existence during the 12-month period prior to the Effective Date unless otherwise mutually agreed by the parties. Licensee shall be required to have a
link on the homepage of the Branded Website which links to Bluestar Alliance LLC’s website (which may be in the format, for example, “For licensing opportunities, click here [Insert Link]”), provided that Licensee acknowledges and
agrees that once redirected to Bluestar’s website, they may be another link (which may use the Licensed Marks as the URL for such link, e.g. www.bebeusa.com) to link to information related primarily to the wholesale and licensing
business of the Licensed Marks, which may include information about where to purchase the Products (but Licensor agrees that any such list by Licensor shall include the Branded Retails Stores and Branded Websites as the first listings). 

5.2. Licensee shall at all times keep the Branded Website Open and Operational in the Exclusive Territory utilizing www.bebe.com. If, at any
time, www.bebe.com is not Open and Operational in the Exclusive Territory utilizing www.bebe.com, then Licensee shall be in material breach of this Agreement and Licensor shall have the right to terminate and remove all rights with respect to all
Branded Websites from this Agreement upon written notice to Licensee, with no opportunity to cure. “Open and Operational” means showing/offering products for sale in commerce on a Branded Website utilizing www.bebe.com and selling
and shipping products purchased through such Branded Website utilizing www.bebe.com. In addition, the Branded Website utilizing www.bebe.com must show/offer at least 10% Products branded with the Licensed Mark (the “Website Minimum
Product Threshold”), provided that in the event that Licensee fails to maintain the Website Minimum Product Threshold, then Licensee’s rights with respect to Branded Websites shall become non-exclusive from and after such time. 

5.3. Notwithstanding that Licensee shall retain ownership of the Retained URLs subject to the terms of this Agreement (including, without
limitation, Licensor’s removal of such rights in accordance with this Agreement), Licensee acknowledges and understands that ownership of the Retained URLs independent from this Agreement shall not permit or grant Licensee (or any
subsequent owner of such Retained URLs) any rights with respect to exploitation (in any manner) of any products or services in connection with the Licensed Marks (or any other use of the Licensed Marks) through the Retained URLs, as any such rights
of exploitation and use of the Licensed Marks to Licensee arise solely as a grant under this Agreement (and may only be further granted by Licensor, in its sole and absolute discretion, in the event this Agreement is terminated or any rights are
removed in accordance with this Agreement). 
 6. Term 

6.1. The term of this Agreement shall be as set forth on Schedule 1. 

6.2. “Annual Period” shall mean each consecutive twelve (12) month period during the Term commencing the 1st day of July and ending the 30th day of June, except that the first Annual Period shall commence on the Effective Date and end on June 30,
2017 (such period being the “First Annual Period”), and each subsequent Annual Period shall be each succeeding twelve month period during the Term. “Calendar Quarter” shall mean the three (3) month calendar
quarters ending each March 31, June 30, September 30 and December 31 of each Annual Period. 
 7. Derivatives of the
Licensed Marks. During the Term, Licensee may propose new derivatives of the “bebe” mark which Licensee desires to include as part of the Licensed Marks (any such, a “Derivative”). Any Derivative shall not be included as part
of the Licensed Marks until Licensor approves such Derivative, such approval of Licensor not to be unreasonably conditioned, delayed or withheld. Upon any such approval by Licensor, this Agreement shall be amended in writing to add such Derivative
as part of the Licensed Marks. All Derivatives and rights related thereto, subject to the licenses granted under Section 1.1 above, shall be owned by Licensor. For clarity, Licensor makes no representations or warranties with respect to any
Derivative. In the event any Derivative is a mark that Licensor does not wish to utilize or license to its other licensees, then Licensee may still direct Licensor to register such Derivative in any jurisdiction desired by Licensee and Licensor
shall promptly undertake such trademark registration efforts and any ongoing maintenance activities at Licensee’s direction and cost, and the use of such Derivative for which Licensee is bearing the trademark registration and ongoing
maintenance costs shall be automatically licensed exclusively to Licensee as part of this Agreement. If Licensor notifies Licensee that it wishes to utilize or license such Derivative to its other licensees, then from and after such notice and
provided Licensor reimburses Licensee for any out-of-pocket expenses paid by Licensee in connection with the trademark registration and maintenance of such Derivative, such Derivative shall be non-exclusively licensed to Licensee and Licensor shall
bear all ongoing trademark registration and maintenance costs related thereto. 

  
 4 

 8. Manufacture of Products; Quality Control  

8.1. The design, contents and workmanship of Products, as well as packaging and sale promotion materials, customer relations and customer
service, shall be at all times substantially of the quality level appropriate for the Licensed Marks, which such quality level shall be deemed to be the level in existence during the 12-month period prior to the Effective Date unless otherwise
mutually agreed by the parties. In addition, the initial pricing of Products shall be consistent with the pricing in existence during the 12-month period prior to the Effective Date unless otherwise mutually agreed by the parties. In order to foster
brand cohesiveness, Licensee hereby acknowledges that Licensor may share designs, sketches and other related materials of the Products in connection with this Agreement which are reasonably and mutually agreed by the parties to Licensor’s other
licensees and Licensor’s other licensees may utilize such mutually-agreed designs, sketches and other related materials. 
 8.2. To
ensure Licensee’s compliance with the quality standard in Section 8.1, upon reasonable request by Licensor (which request shall not be made more than once with respect to any season), Licensee agrees to promptly send to Licensor
post-production samples of Products bearing the Licensed Marks offered for sale during such season, at Licensee’s reasonable cost and expense. In the event that Licensor reasonably believes that any Products bearing the Licensed Marks offered
for sale by Licensee do not meet the quality requirements of Section 8.1, Licensor will notify Licensee in writing within ten (10) business days of receipt of the relevant items and that such items deviate materially from the quality
standard described above; (b) Licensor identifies its concern with reasonable specificity to permit a reasonable person to address the concern; and (c) the concern relates only to material issues. The parties will promptly discuss
reasonable mitigation plans, if any, to restore the affected Products to the agreed quality standard. Upon mutual written agreement regarding mitigation plans, Licensee will implement such mitigation plans at its reasonable expense. Licensee shall
have no obligation to stop current production of the affected Products. 
 8.3. Licensee shall use and display the Licensed Marks only in
such form and manner as are specifically approved by Licensor; provided that the foregoing shall not be deemed to require individual pre-approval for each item that would bear a Licensed Mark, or approval of uses of Licensed Marks in a manner not
materially different from uses that had previously been approved. All uses of the Licensed Marks in existence as of the Effective Date that comply with the quality level (i.e. in existence during the 12-month period prior to the Effective Date) are
hereby deemed approved. Licensee shall provide representative examples of all hangtags and necktags for pre-approval by Licensor. Licensee shall cause to appear the legends, markings and notices which Licensor may reasonably request in writing on
all Products produced hereunder, and on their tags, labels, packaging and the like, and on all advertising, promotional and publicity material used by Licensee in connection therewith, and on any printed matter on which Licensee elects to have the
Licensed Marks appear, including business cards, invoices, order forms and stationery. 
 9. Advertising Obligation. During the First Annual Period
and Second Annual Period, Licensee shall be required to spend at least $5,000,000, with respect to each such Annual Period, on Advertising the “bebe” brand in the Exclusive Territory and during the Third Annual Period and the Fourth Annual
Period, Licensee shall be required to spend at last $2,500,000 with respect to each such Annual Period on Advertising the “bebe” brand in the Exclusive Territory (the “Advertising Thresholds”). In the event that Licensee
fails to achieve the Advertising Threshold with respect to any of either the First, Second, Third or Fourth Annual Period, then Licensee shall be in material breach of this Agreement and Licensor shall have the right to terminate this Agreement upon
written notice to Licensee if such Advertising Thresholds are not met within ninety (90) days of the date of written notice from Licensor. “Advertising” shall include the following: e.g. tradeshows, photoshoots, print, social media
purchases, internet advertising, tv and radio advertising, event promotion, and any other standard, traditional, or other advertising efforts as Licensee may elect to engage in, either in the ordinary course of business or as a special event or
promotion, as determined by Licensee in its reasonable business judgment. 
 10. Indemnity; Insurance. 

10.1. Licensee hereby indemnifies and holds harmless Licensor, its respective affiliates, owners, and all of their respective shareholders,
members, managers, officers, directors, licensees, distributors, agents, representatives and employees (“Licensor Indemnified Parties”) from and against any and all liabilities, losses, damages, penalties, obligations, judgments,
awards, costs, fees, expenses, payments, and disbursements, including the reasonable costs, fees, expenses and disbursements of counsel and others, (an “Indemnifiable Loss”), actually incurred by the Licensor Indemnified Parties
resulting from a proceeding, claim and/or action brought by a third-party against any Licensor Indemnified Parties, which arise out of or relates to: (i) injury to persons or tangible property resulting from Licensee’s manufacture,
distribution, shipment, or sale of any Products; (ii) breach of any territorial or exclusivity restriction set forth in this Agreement; (iii) any employee-related liabilities with respect to Licensee’s operation of its Business;
(iv) the unapproved, unauthorized or non-conforming use of the Licensed Marks by Licensee and/or its authorized third-party 

  
 5 

 
contractors, vendors and service providers; (v) Licensee’s manufacture, distribution, shipment, labeling, advertising, promotion, offering for sale, sale and/or use of Products or
Licensee Intellectual Property in violation of any applicable law or regulation, including, without limitation, that violations, infringements or alleged infringements any intellectual property or other rights including, without limitation, any
patents, trademarks, copyrights, or trade secrets, of any third party; or (vi) in connection with the Branded Website and/or any Branded Retail Store, including, without limitation, the operation of any of the foregoing. 

10.2. Licensor hereby indemnifies and holds harmless Licensee, its respective affiliates, owners, and all of their respective shareholders,
members, managers, officers, directors, licensees, distributors, agents, representatives and employees ( “Licensee Indemnified Parties”) from and against any and all Indemnifiable Losses actually incurred by the Licensee Indemnified
Parties resulting from any proceeding, claim and/or action brought by a third-party against any Licensee Indemnified Parties, which arise out of or relates to: (i) injury to persons or tangible property resulting from Licensor’s or its
licensees’ (other than Licensee) manufacture, distribution, shipment, or sale of any products; (ii) breach of any territorial or exclusivity restriction set forth in this Agreement by Licensor or any of its licensees (other than Licensee);
(iii) any employee-related liabilities with respect to Licensor’s operation of its business or of any of Licensor’s licensees’ (other than Licensee) of their business; (iv) the unapproved, unauthorized or non-conforming use
of the Licensed Marks by Licensor, any licensee (other than Licensee) and/or any of its or their authorized third-party contractors, vendors and service providers; (v) the manufacture, distribution, shipment, labeling, advertising, promotion,
offering for sale, sale and/or use of Products or Licensor Intellectual Property in violation of any applicable law or regulation by Licensor or any of Licensor’s licensees (other than Licensee), including, without limitation, that violations,
infringements or alleged infringements any intellectual property or other rights including, without limitation, any patents, trademarks, copyrights, or trade secrets, of any third party; or (vi) in connection with any branded websites or
branded retail stores operated by Licensor or any of Licensor’s licensees (other than a Branded Website and/or any Branded Retail Store), including, without limitation, the operation of any of the foregoing. 

10.3. If a third party claim is commenced against an indemnified party, the party seeking indemnification will provide prompt written notice
thereof and will provide the indemnifying party sole control of the defense and investigation of such claim at the indemnifying party’s sole cost and expense. The indemnified party agrees to provide assistance to the indemnifying party upon the
indemnifying party’s reasonable request and at the indemnifying party’s expense. The indemnifying party may not settle any claim that negatively affects the interests of the indemnified party without the indemnified party’s prior
written consent, which shall not be unreasonably conditioned, delayed or withheld. 
 10.4. (a) Simultaneously with the execution of this
Agreement, Licensee shall promptly obtain and maintain in full force and effect at all times during the Term, at its own cost and expense, policies of insurance insuring against those risks reasonably and customarily insured in the territories in
which the party is operating under comprehensive general liability policies, in the amount of $10,000,000 of primary and umbrella coverage from one or more insurance companies, each with a Best’s rating of “A” or better. All
insurance shall be primary and not contributory. All of said insurance shall: (i) provide for coverage resulting from claims reported after the policy period; and (ii) provide that the applicable party maintain coverage for international
products exposure, and require same to be specifically in the party’s certificate of insurance. During the Term, on the written request of a party, the other party shall promptly furnish or cause to be furnished evidence of the maintenance and
renewal of the insurance required herein, including copies of policies with applicable riders and endorsements, certificates of insurance, and continuing certificates of insurance. 

(b) Within thirty (30) days after full execution of this Agreement, Licensor shall promptly obtain and maintain in full force and
effect at all times during the Term, at its own cost and expense, policies of insurance insuring against those risks reasonably and customarily insured in the territories in which the party is operating under comprehensive general liability
policies, in the amount of $10,000,000 of primary and umbrella coverage from one or more insurance companies including Premises/Operations, Product Liability/Completed Operations, Personal injury, Contractual, and Advertising Injury, each with a
Best’s rating of “A” or better. All insurance shall be primary and not contributory. All of said insurance shall: (i) provide for coverage resulting from claims reported after the policy period; and (ii) provide that the
applicable party maintain coverage for international products exposure, and require same to be specifically in the party’s certificate of insurance. During the Term, on the written request of a party, the other party shall promptly furnish or
cause to be furnished evidence of the maintenance and renewal of the insurance required herein, including copies of policies with applicable riders and endorsements, certificates of insurance, and continuing certificates of insurance. 

  
 6 

 11. Reporting. Licensee shall deliver to Licensor, not later than 30 days after the close of each Calendar
Quarter (or portion thereof in the event of prior termination for any reason), a written report detailing its compliance with Section 4, Section 5 and detailing its compliance with its Advertising Thresholds in Section 9. 

12. Books and Records; Audits. Licensee shall prepare and maintain, in such manner as will allow its accountants to audit same in accordance with
generally accepted accounting principles, separate, complete and accurate books of account and records (specifically including the originals or copies of documents supporting entries in the books of account) relating solely to Licensee’s
compliance with the Advertising Threshold obligations under Section 9. Licensor may appoint an independent auditor reasonably acceptable to Licensee to audit such books and records solely to determine Licensee’s compliance with the
Advertising Thresholds during regular business hours, for the duration of this Agreement, but no more than once per Annual Period (unless for cause). 
 13.
Intellectual Property. 
 13.1. Licensee acknowledges that Licensor is the sole owner of all right, title and interest in and to the
Licensor Intellectual Property and Licensed Marks in any form or embodiment thereof. Licensor acknowledges that Licensee is the sole owner of all right, title and interest in and to any Licensee Intellectual Property. For the avoidance of doubt,
nothing in this Section 13.1 shall affect the Design License set forth in Section 9.8 of the APA. 
 13.2. Licensee shall not, in
connection with any products or services, use or register, or authorize or attempt to use or register, the Licensed Marks or any source identifier confusingly similar thereto, including without limitation trademarks, trade names, corporate names, or
domain names, in whole or in part. Licensee shall not, in connection with Products, join any name or names with the Licensed Marks so as to form a new or composite mark (except as otherwise permitted in this Agreement with respect to Derivatives).
Licensee shall not use any name or names in connection with the Licensed Marks in any advertising, publicity, labeling, packaging or printed matter otherwise than in connection with Products in accordance with the terms and conditions of this
Agreement and subject, at all times, to Licensor’s prior consent and approval (not to be unreasonably withheld, conditioned or delayed). 

13.3. As used in this Agreement: “Licensor Intellectual Property” means all intellectual property, including titles,
personae, places, props, materials, patterns, graphics, copyrights and derivative works, patents, designs, trademarks, trade dress, and other intellectual property owned by Licensor in connection with the Licensed Marks, Products and/or any other
rights granted to Licensee in this Agreement. As used in this Agreement: “Licensee Intellectual Property” means, except for Licensor Intellectual Property, all intellectual property, including titles, personae, places, props,
materials, patterns, graphics, copyrights and derivative works, patents, designs, store designs and layouts, website designs and layouts, trade dress, and other intellectual property owned by Licensee. 

13.4. At Licensor’s request, Licensee shall execute any documents reasonably required by Licensor to confirm Licensor’s ownership of
all rights in and to the Licensed Marks in the Territory. Licensee shall cooperate with Licensor at Licensor’s reasonable request and expense in connection with the filing and prosecution by Licensor of applications in Licensor’s name to
register the Licensed Marks for Products in the Territory and the maintenance and renewal of such registrations as may issue. 
 13.5.
Licensee shall use the Licensed Marks and the Licensor Intellectual Property in the Territory strictly in compliance with the applicable legal requirements obtaining therein and shall use such markings in connection therewith as may be required by
applicable legal provisions. 
 13.6. Licensee shall not challenge Licensor’s ownership of or the validity of the Licensed Marks or any
application for registration thereof, or any trademark registration thereof. Also, Licensee shall not seek to register the Licensed Marks or any variation or simulation thereof. 

14. Confidentiality. 
 14.1.
Obligations. The parties acknowledge and agree that all strategic and forward-looking operational or financial information disclosed by one party (the “Disclosing Party”), directly or indirectly, to another party (the
“Receiving Party”) in connection with the business of the Disclosing Party, which is marked as “proprietary” or “confidential” or, if disclosed orally, is designated as confidential or proprietary at the time of
disclosure and reduced in writing or other tangible (including electronic) form that includes a prominent confidentiality notice and delivered to the Receiving Party within thirty (30) days of disclosure, constitutes the confidential and
proprietary information of the Disclosing Party (“Confidential Information”). The Receiving Party may disclose Confidential Information only to those employees who have a need to know such Confidential Information and who are bound
to retain the confidentiality thereof under provisions (including provisions relating to nonuse and nondisclosure) no less restrictive than those required by the Receiving Party for its own confidential information. The Receiving Party shall, and
shall 

  
 7 

 
cause its employees to, retain in confidence and not disclose to any third party (including any of its sub-contractors) any Confidential Information
without the Disclosing Party’s express prior written consent, and the Receiving Party shall not use such Confidential Information except to exercise the rights and perform its obligations under this Agreement. Without limiting the foregoing,
the Receiving Party shall use at least the same procedures and degree of care which it uses to protect its own confidential information of like importance, and in no event less than reasonable care. The Receiving Party shall be fully responsible for
compliance by its employees with the foregoing, and any act or omission of an employee of the Receiving Party shall constitute an act or omission of the Receiving Party. The confidentiality obligations set forth in this Section 14.1 shall
survive any dissolution of the Licensor and/or termination of this Agreement. 
 14.2. Exceptions. Notwithstanding the foregoing,
Confidential Information will not include information that: (a) was already known by the Receiving Party, other than under an obligation of confidentiality to the Disclosing Party or any third party, at the time of disclosure hereunder, as
evidenced by the Receiving Party’s tangible (including written or electronic) records in existence at such time; (b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the
Receiving Party hereunder; (c) became generally available to the public or otherwise part of the public domain after its disclosure other than through any act or omission of the Receiving Party in breach of this Agreement; (d) was
subsequently lawfully disclosed to the Receiving Party by an Entity or person other than the Disclosing Party not subject to any duty of confidentiality with respect thereto; or (e) was developed by the Receiving Party without reference to any
Confidential Information disclosed by the Disclosing Party, as evidenced by the Receiving Party’s tangible (including written or electronic) records in existence at such time. 

15. Termination. Neither party shall have termination rights in this Agreement, except that Licensor may terminate Licensee’s rights and/or this
Agreement as expressly set forth in Section 4, 5 and Section 9. 
 16. Rights on Expiration or Termination. 

16.1. Notwithstanding the expiration or any termination hereof, Licensor shall have and hereby reserves all rights and remedies which it has,
or which are granted to it by operation of law, to enjoin the unlawful or unauthorized use of the Licensed Marks (any of which injunctive relief may be sought in the courts, and, as applicable, also may be sought prior to or in lieu of termination;
and, in seeking any such injunctive relief there shall not be any obligation to secure a bond or other security). In addition, nothing herein shall be deemed to prevent Licensor from bringing an action for damages if a default in performance by
Licensee occurs and is not cured in a reasonably timely manner. 
 16.2. If Licensor terminates this Agreement or rights with respect to
either the Branded Retail Stores and/or Branded Websites are terminated in accordance with this Agreement, Licensee may continue to operate the Branded Retail Stores and the Branded Websites using the Licensed Marks in applicable signage,
advertising and marketing materials, and sell Inventory through the Designated Sales Channels for an additional period of one hundred and twenty (120) days from the date of expiration or the date such rights were terminated, on a non-exclusive
basis. 
 16.3. Subject to Section 16.2: 

(a) upon any termination of this Agreement, all of the rights of Licensee under this Agreement shall terminate forthwith and shall revert
immediately to Licensor, and Licensee shall promptly cease the manufacture, distribution and sale of the Products bearing the Licensed Marks, and Licensee shall discontinue forthwith all use of the Licensed Marks. In addition, upon any termination
of this Agreement, the Retained Distribution Agreements, Retained URLs and all Media Accounts (as defined in the APA) shall be deemed immediately transferred to Licensor (and Licensee shall cooperate at Licensor’s expense to ensure that such
Retained Distribution Agreements, Retained URLs and Media Accounts are promptly officially transferred of record to Licensor). Any such assignments, transfers or conveyances shall be without further consideration other than the mutual covenants
contained in this Agreement and the consideration paid by Licensor as set forth in the APA shall be deemed to include these assignments, transfers and conveyances (and the parties acknowledge the sufficiency of such consideration). 

(b) upon any termination of Licensee’s rights pursuant to Section 5, all of the rights of Licensee to operate the Branded Websites
using the Licensed Marks under this Agreement shall terminate forthwith and shall revert immediately to Licensor and Licensee shall discontinue forthwith all use of the Licensed Marks in connection with the Branded Websites. In addition, upon any
termination of Licensee’s rights pursuant to Section 5, the Retained URLs and all Media Accounts (as defined in the APA) shall be deemed immediately transferred to Licensor (and Licensee shall cooperate to ensure that such Retained URLs
and Media Accounts are officially transferred of record to Licensor). Any such assignments, transfers or conveyances shall be without further consideration other than the mutual covenants contained in this Agreement and the consideration paid by
Licensor as set forth in the APA shall be deemed to include these assignments, transfers and conveyances (and the parties acknowledge the sufficiency of such consideration). In the event of any termination of any of Licensee’s rights, the
licenses granted to Licensor under Section 1.2 shall also terminate. 

  
 8 

 16.4. Subject to Section 16.3, the following Sections shall survive the termination or
expiration of this Agreement: Sections 5.3, 10, 13, 14, 16, 17, 18, 19, 20, 21, 22 and 23. 
 17. LIMITATION OF LIABILITY. NOTWITHSTANDING ANYTHING
TO THE CONTRARY CONTAINED IN THIS AGREEMENT, AND EXCEPT TO FULFIL AN INDEMNITY OBLIGATION OR FOR A BREACH OF CONFIDENTIALITY OBLIGATIONS, NEITHER LICENSOR NOR LICENSEE (NOR THEIR AFFILIATES, DIRECTORS, OFFICERS, AGENTS OR EMPLOYEES), WILL UNDER ANY
CIRCUMSTANCES BE LIABLE TO THE OTHER (OR THEIR AFFILIATES, OWNERS, DIRECTORS, MANAGERS, OFFICERS, AGENTS OR EMPLOYEES ) FOR ANY INCIDENTAL, CONSEQUENTIAL, INDIRECT, SPECIAL OR PUNITIVE DAMAGES, OR LOST OR IMPUTED PROFITS AND/OR SALES ARISING OUT OF
THIS AGREEMENT OR ITS TERMINATION OR EXPIRATION, WHETHER LIABILITY IS ASSERTED IN CONTRACT OR TORT AND IRRESPECTIVE OF WHETHER SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE. 

18. Representations and Warranties. 

18.1. Licensor represents and warrants that it has full right, power and authority to enter into this Agreement and to perform all of its
obligations hereunder. Except as expressly and specifically set forth in this Agreement, Licensor has not made, and is not making, any representation or warranty to Licensee, including with respect to Licensor, the Licensed Marks, previous business
or the prospects of the business to be conducted by Licensee hereunder. 
 18.2. Licensee represents and warrants that it has full right,
power and authority to enter into this Agreement and to perform all of its obligations hereunder. 
 19. Notice. All reports, approvals, requests,
demands and notices required or permitted by this Agreement to be given to a party shall be in writing and shall be made as set forth in Schedule 1 (or at such other address as a party may specify by written notice to the other). 

20. Assignability; Binding Effect. 
 20.1.
Neither party may assign or otherwise transfer this Agreement or any of its rights or obligations under this Agreement without the other party’s express prior written consent, such consent not to be unreasonably conditioned, delayed or
withheld. Notwithstanding the foregoing, either party may assign this Agreement and its rights and obligations hereunder without consent to a successor in interest upon a reorganization, merger, acquisition, change of control, or sale of all or
substantially all of the assets of such party. 
 20.2. This Agreement shall inure to the benefit of and shall be binding upon the parties
and their permitted successors and assigns. 
 21. Infringement. Licensor shall have the sole right to determine whether any action shall be taken on
account of any infringement of the Licensed Marks (and related claims and actions) and Licensee shall not take any action on account of such infringement without the prior written consent of Licensor. 

22. Enforcement of Agreement. 
 22.1.
Dispute Resolution. The parties hereby agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby, whether in
contract, tort or otherwise, shall be brought in the United States District Court for the District of Delaware or in the Court of Chancery of the State of Delaware (or, if such court lacks subject matter jurisdiction, in the Superior Court of the
State of Delaware), so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any case of action arising out of this Agreement shall be deemed to have arisen from a transaction of business in
the State of Delaware. Each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent
permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding that is brought in any such court has been brought in
an inconvenient form. Service of process, summons, notice or other document by registered mail to the address set forth in Schedule 1 shall be effective service of process for any suit, action or other proceeding brought in any such court. Each
party hereto hereby acknowledges and agrees that any controversy that may arise under this Agreement is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have
to a trial by jury in respect of any legal action arising out of or relating to this Agreement or the transactions contemplated hereby. 

  
 9 

 22.2. Specific Performance. The parties agree that irreparable damage may result if this
Agreement is not performed in accordance with its terms, and the parties agree that any damages available at law for a breach of this Agreement may not be an adequate remedy. Therefore, the provisions hereof and the obligations of the parties
hereunder shall be enforceable in a court of equity, or other tribunal with jurisdiction, by a decree of specific performance, and appropriate injunctive relief may be applied for an granted in connection therewith. Such remedies and all other
remedies provided for in this Agreement shall, however, be cumulative and not exclusive and shall be in addition to any other remedies that a party may have under this Agreement, at law or in equity. 

23. Miscellaneous. 
 23.1.
Amendments. No amendment, change or modification to this Agreement shall be valid unless the same is in writing and signed by Licensor and Licensee. 

23.2. No Waiver. Any provision of this Agreement may be waived if, and only if, such waiver is in writing and is duly executed by the
party against whom the waiver is to be enforced. No failure or delay by any party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial waiver or exercise thereof preclude
the enforcement of any other right, power or privilege. 
 23.3. Entire Agreement. This Agreement, together with the other
Transaction Documents and the other documents, exhibits and schedules referred to herein and therein, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof, and supersede any and all prior oral and
written, and all contemporaneous oral, agreements or understandings pertaining thereto. There are no agreements, understandings, restrictions, warranties or representations relating to such subject matter among the parties other than those set forth
herein, in the other Transaction Documents and in the other documents, exhibits and schedules referred to herein and therein. 
 23.4.
Further Assurances. Each of the parties hereto does hereby covenant and agree on behalf of itself, its successors, and its assigns, without further consideration, to prepare, execute, acknowledge, file, record, publish, and deliver such other
instruments, documents and statements, and to take such other action as may be required by law or reasonably necessary or advisable to effectively carry out the purposes of this Agreement. 

23.5. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Delaware, United
States of America, as applied to agreements among Delaware residents entered into and wholly to be performed within the State of Delaware (without reference to any choice or conflicts of laws rules or principles that would require the application of
the laws of any other jurisdiction). 
 23.6. Construction; Interpretation. 

23.6.1. Certain Terms. The words “hereof,” “herein,” “hereunder” and similar words refer to this Agreement
as a whole and not to any particular provision of this Agreement. The term “including” is not limited and means “including without limitation.” 

23.6.2. Section References; Titles and Subtitles. Unless otherwise noted, all references to Sections and Exhibits herein are to
Sections and Exhibits of this Agreement. The titles, captions and headings of this Agreement are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

23.6.3. Reference to Persons, Agreements, Statutes. Unless otherwise expressly provided herein, (a) references to a person or
entity include its successors and permitted assigns, (b) references to agreements (including this Agreement) and other contractual instruments shall be deemed to include all subsequent amendments, restatements and other modifications thereto or
supplements thereof and (c) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such statute or regulation. 

23.6.4. Presumptions. No party, nor its counsel, shall be deemed the drafter of this Agreement for purposes of construing the
provisions of this Agreement, and all provisions of this Agreement shall be construed in accordance with their fair meaning, and not strictly for or against any party. 

23.7. Rights and Remedies Cumulative. The rights and remedies provided by this Agreement are cumulative and the use of any one right or
remedy by any party shall not preclude or waive its right to use any or all other remedies. Said rights and remedies are given in addition to any other rights the parties may have by law, statute, ordinance or otherwise. 

  
 10 

 23.8. Language. This Agreement is in the English language only, which language shall be
controlling in all respects, and all versions hereof in any other language shall be for accommodation only and shall not be binding upon the parties. 

23.9. Severability. If any provision in this Agreement will be found or be held to be invalid or unenforceable, then the meaning of
said provision will be construed, to the extent feasible, so as to render the provision enforceable, and if no feasible interpretation would save such provision, it will be severed from the remainder of this Agreement which will remain in full force
and effect unless the severed provision is essential and material to the rights or benefits received by any party. In such event, the parties will use their respective best efforts to negotiate, in good faith, a substitute, valid and enforceable
provision or agreement which most nearly affects the parties’ intent in entering into this Agreement. 
 23.10. Counterparts.
This Agreement may be executed in counterparts, each of which so executed will be deemed to be an original and such counterparts together will constitute one and the same agreement. Execution and delivery of this Agreement by exchange of facsimile
copies bearing the facsimile signature of a party shall constitute a valid and binding execution and delivery of this Agreement by such party. 

23.11. Third-Party Beneficiaries. None of the provisions of this Agreement shall be for the benefit of or be enforceable by any
creditor of the Licensor or by any third-party creditor of Licensee. This Agreement is not intended to confer any rights or remedies hereunder upon, and shall not be enforceable by, any person other than the parties hereto, their respective
successors and permitted assigns. 
 [Signature Page to Follow] 

  
 11 

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

			
	BB BRAND HOLDINGS LLC
		
	By:	 	 /s/ Joseph Gabbay

	Name:	 	Joseph Gabbay
	Title:	 	Manager
	
	BEBE STORES, INC.
		
	By:	 	 /s/ Walter Parks

	Name:	 	Walter Parks
	Title:	 	President and Chief Operating Officer
	
	BEBE STUDIO, INC.
		
	By:	 	 /s/ Walter Parks

	Name:	 	Walter Parks
	Title:	 	Treasurer

  
 [Signature page to
License Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]