Document:

Second Supplemental Indenture

 Exhibit 4.1 

SECOND SUPPLEMENTAL INDENTURE 

This SECOND SUPPLEMENTAL INDENTURE dated as of January 1, 2010, is between HSN, Inc., a Delaware corporation (the
“Issuer”), and The Bank of New York Mellon, a New York banking corporation, as Trustee (the “Trustee”). 

RECITALS 

WHEREAS, the Issuer and the Trustee entered into an Indenture dated July 28, 2008 (the “Indenture”), pursuant to which the
Issuer originally issued $240,000,000 in originally issued 11.25% Senior Notes due 2016 (the “Notes”); 
 WHEREAS,
Section 4.13 of the Indenture provides the method by which the Issuer may amend the Indenture to add a new Domestic Subsidiary as an additional Guarantor under the Indenture; 

WHEREAS, the Issuer has designated Cornerstone Services, Inc., a Delaware corporation, as a Domestic Subsidiary under the Indenture; and

 WHEREAS, all acts and things prescribed by the Indenture and by law necessary to make this Second Supplemental Indenture a
valid instrument legally binding on the Company and the Domestic Subsidiary, in accordance with its terms, have been duly done and performed. 

NOW, THEREFORE, to comply with the provisions of the Indenture and in consideration of the mutual agreements hereinafter set forth, the
Domestic Subsidiary and Trustee have agreed and do hereby agree as follows: 
 ARTICLE 1 

Section 1.01 This Second Supplemental Indenture is supplemental to the Indenture and does and shall be deemed to form a part of, and
shall be construed in connection with and as part of, the Indenture for any and all purposes. 
 Section 1.02 This Second
Supplemental Indenture shall become effective immediately upon its execution and delivery by each of the Company, the Domestic Subsidiary and the Trustee. 

Section 1.03 Except as specifically modified herein, the Indenture and the Notes are in all respects ratified and confirmed and
shall remain in full force and effect in accordance with their terms with all capitalized terms used herein without definition having the same respective meanings ascribed to them as in the Indenture. 

ARTICLE 2 

Section 2.01 From this date, in accordance with Section 4.13 of the Indenture and by executing this Second Supplemental
Indenture, Cornerstone Services, Inc., a Delaware corporation “CSI”), will be a Domestic Subsidiary and Guarantor under the Indenture, and subject to the provisions of the Indenture and as a Guarantor to the extent provided under
Section 10 of the Indenture. 
 Section 2.02 CSI, jointly and severally, with the Guarantors, hereby conditionally
guarantees to each Holder all of Issuer’s obligations under the Notes and the Indenture on the terms set forth in the Indenture. 

Section 2.03 THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SECOND SUPPLEMENTAL INDENTURE, THE
INDENTURE, THE NOTES AND GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPALS OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

 Section 2.04 The parties may sign any number of copies hereof. Each signed copy shall
be an original, but all of them together represent the same instrument. 
 IN WITNESS WHEREOF, the parties hereto have cause
this Second Supplement Indenture to be duly executed as of the day and year first above written. 
  

			
	HSN, INC., as the Issuer
		
	By:	 	  

		 	Arthur Singleton, Vice President and Treasurer
	
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

			
	Acknowledged and Accepted
	as of the date first written above:
	
	Cornerstone Services, Inc.
		
	By:	 	  

		 	Michael Attinella
		 	Assistant Treasurer

  

 2Form of Performance Cash  Award Agreement

 Exhibit 10.1 

PERFORMANCE CASH AWARD AGREEMENT 

THIS PERFORMANCE CASH AWARD AGREEMENT (this “Agreement”), dated as of «award_date» (the “Award Date”) is
between HSN, Inc., a Delaware corporation (the “Company”), and «Participant» (the “Participant”). Capitalized terms used, but not otherwise defined, herein shall have the meanings ascribed to such terms in the
Company’s Second Amended and Restated 2009 Stock and Annual Incentive Compensation Plan, as amended (the “Plan”). 
  

	1.	Award and Vesting of Cash Award 

(a) In order to encourage Participant’s continued contribution to the successful performance of the Company, the Company hereby
grants to the Participant, as of the Award Date, a performance cash award in the amount of «Award Amount» (the “Cash Award”), pursuant to the Company’s Long-Term Incentive Program promulgated under the Plan (the
“LTIP”). The Participant hereby acknowledges and accepts such Cash Award upon the terms and subject to the performance requirements and other conditions, restrictions and limitations contained in this Agreement. 

(b) Subject to Sections 5 and 6 of this Agreement, the total Cash Award shall vest and become payable to the Participant on
December 31, 2011 (the “Vesting Date”). 
 (c) Nothing in this Agreement shall confer upon the Participant any
right to continue in the employ or service of the Company or any of its affiliates or interfere in any way with the right of the Company or any such Affiliates to terminate the Participant’s service at any time, with or without cause.

  

	2.	Settlement of Cash Award 

Except as provided in Sections 5 and 6 below, the Cash Award shall be payable to the Participant within thirty (30) days following
the Vesting Date. To the extent required by federal, state or local law, the Company shall have the right to withhold and deduct from the payments due to Participant pursuant to the Cash Award, amounts that would otherwise be delivered pursuant
hereto for the payment of taxes or other amounts required by law and to take such other action as may be necessary in the option of the Company to satisfy all obligations for withholding of such taxes. 

 

	3.	Non-Transferability of the Award  

The Cash Award shall not be transferable by the Participant by means of sale, assignment, exchange, encumbrance, pledge, attachment or
otherwise transferred or encumbered and any such purported assignment, exchange, encumbrance, pledge or attachment shall be void and unenforceable against the Company. 
  

	4.	Rights as a Stockholder 

The Participant shall not be entitled to any rights of a stockholder. 

 

	5.	Forfeiture  

Notwithstanding the provisions of Section 1(b) and except as provided in Section 6, in the event of termination of the
Participant’s service with the Company prior to the Vesting Date for any reason, including by reason of death or Disability, the entire amount of the unvested Cash Award shall be forfeited by the Participant and canceled in its entirety
effective immediately upon such termination. 
  

	6.	Adjustment in the Event of Change in Control 

(a) In the event that a Change in Control, as defined in Section 10(c) of the Plan, occurs prior to the Vesting Date and provided
Participant is employed on the effective date of the Change in Control, Participant will receive the Cash Award, discounted as 

 
provided in (b) below. Such payout shall be made as soon as practical after the effective date of the Change in Control, but in no event later than
March 15th of the year following the year in which
the Change in Control occurs. 
 (b) In order to reflect the time value of the earlier payment of the Performance Cash payout
and to satisfy IRS Regulation §1.162-27(e)(2)(iii)(B), the amount of the Performance Cash payout shall be equal to the present value of the amount that would have been payable had the Participant been employed on the Vesting Date, based upon
the whole number of months between the first day of the month in which the Change in Control occurs and the Vesting Date, and the Federal short-term rate determined by the IRS pursuant to §1274 of the Internal Revenue Code for the month in
which the Change in Control occurs, compounded monthly. 
  

	7.	Other Agreements and Acknowledgments  

(a) By accepting the grant evidenced by of this Agreement, the Participant acknowledges and agrees that: (i) the LTIP is established
voluntarily by the Company; it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time unless otherwise provided in the Plan or this Agreement; (ii) the grant of the award is voluntary and
occasional and does not create any contractual or other right to receive future grants of cash awards, or benefits in lieu of cash awards, even if cash awards have been granted in the past; (iii) all decisions with respect to future grants, if
any, will be at the sole discretion of the Company; (iv) the future value of the Cash Award is unknown and cannot be predicted with certainty; (v) in consideration of the grant of the Cash Award, no claim of entitlement to compensation or
damages shall arise from termination of the Cash Award or diminution in value of the Cash Award resulting from a termination of the Participant’s employment by the Company or Change in Control, and the Participant irrevocably releases the
Company from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting the terms of this Agreement, the Participant shall be deemed irrevocably
to have waived any entitlement to pursue such claim; and (vi) notwithstanding any terms or conditions of the Plan to the contrary, in the event of involuntary termination of the Participant’s employment (whether or not in breach of local
labor laws), the Participant’s right to receive awards or vest in awards under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed and will not be extended by any notice period mandated
under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); furthermore, in the event of involuntary termination of employment (whether or not in breach of local labor
laws), the Committee shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of the Cash Award. 

(b) The Cash Award currently consists of a bookkeeping entry representing the right to receive cash on a date determined in accordance
with this Agreement. Nothing in this Agreement shall create or be deemed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Subsidiary and the Participant. 

 

	8.	Notices 

 All
notices and other communications under this Agreement shall be in writing and shall be given by hand delivery to the other party or by facsimile, overnight courier, or registered or certified mail, return receipt requested, postage prepaid,
addressed as follows: 
 If to the Participant: at the address last provided by the Participant to the Company’s Human
Resources Department. 
  

			
	If to the Company:	 	HSN, Inc.
		 	1 HSN Drive
		 	St. Petersburg, FL 33729
		 	Attention: General Counsel
		 	Facsimile: (727) 872-1000

 or to such other address
or facsimile number as any party shall have furnished to the other in writing in accordance with this Section 8. Notice and communications shall be effective when actually received by the addressee. Notwithstanding the foregoing, the
Participant consents to electronic delivery of documents required to be delivered by the Company under the securities laws. 
  

 2 

	9.	Effect of Agreement 

Except as otherwise provided hereunder, this Agreement shall be binding upon and shall inure to the benefit of any successor or successors
of the Company. 
  

	10.	Laws Applicable to Construction; Consent to Jurisdiction 

The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of Delaware without reference
to principles of conflict of laws, as applied to contracts executed in and performed wholly within the State of Delaware. In addition to the terms and conditions set forth in this Agreement and the Summary of Award, the RSUs are subject to the terms
and conditions of the Plan, which are hereby incorporated by reference. 
 Any and all disputes arising under or out of this
Agreement, including without limitation any issues involving the enforcement or interpretation of any of the provisions of this Agreement, shall be resolved by the commencement of an appropriate action in the state or federal courts located within
the State of Florida, which shall be the exclusive jurisdiction for the resolution of any such disputes. The Participant hereby agrees and consents to the personal jurisdiction of said courts over the Participant for purposes of the resolution of
any and all such disputes. 
  

	11.	Severability 

 The
invalidity or enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
  

	12.	Conflicts and Interpretation 

In the event of any conflict between this Agreement, the LTIP and the Plan, the Plan shall control. In the event of any ambiguity in this
Agreement, or any matters as to which this Agreement is silent, the Plan shall govern including, without limitation, the provisions thereof pursuant to which the Committee has the power, among others, to (i) interpret the Plan,
(ii) prescribe, amend and rescind rules and regulations relating to the Plan, and (iii) make all other determinations deemed necessary or advisable for the administration of the Plan. 

 

	13.	Amendment 

 The
Company may modify, amend or waive the terms of the award, prospectively or retroactively, but no such modification, amendment or waiver shall impair the rights of the Participant without his or her consent, except as required by applicable law,
NASDAQ or stock exchange rules, tax rules or accounting rules. The waiver by either party of compliance with any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent
breach by such party of a provision of this Agreement. 
  

	14.	Headings 

 The
headings of paragraphs herein are included solely for convenience of reference and shall not affect the meaning or interpretation of any of the provisions of this Agreement. 

 

	15.	Counterparts 

 This
Agreement may be executed in counterparts, which together shall constitute one and the same original. 
  

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	16.	Data Protection 

The Participant authorizes the release from time to time to the Company (and any of its subsidiaries or affiliated companies) and to the
Agent (together, the “Relevant Companies”) of any and all personal or professional data that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). Without limiting
the above, Participant permits his or her employing company to collect, process, register and transfer to the Relevant Companies all Relevant Information (including any professional and personal data that may be useful or necessary for the purposes
of the administration of the Plan and/or this Agreement and/or to implement or structure any further grants of equity awards (if any)). Participant hereby authorizes the Relevant Information to be transferred to any jurisdiction in which the
Company, his or her employing company or the Agent considers appropriate. Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law.

 IN WITNESS WHEREOF, as of the date first above written, the Company has caused this Agreement to be executed on its behalf by
a duly authorized officer. Electronic acceptance of this Agreement pursuant to the Company’s instructions to Participant (including through an online acceptance process managed by the Agent) is acceptable. 

 

			
	HSN, INC.
		
	By:	 	
 

		 	 Lisa Letizio

		 	 Executive Vice President –

		 	 Human Resources

  

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