Document:

Amended and Restated 1996 Stock Incentive Plan

 Exhibit 10.1 
 GLENBOROUGH REALTY TRUST INCORPORATED 
 1996 STOCK INCENTIVE PLAN 
 (amended and restated as of May 4, 2006) 
 (amended and restated as of March 20, 1997) 
 1. Purposes of the Plan. The purposes of this Stock Incentive Plan
are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants of the Company and its Related Entities and to promote the success of the
Company’s and its Related Entities’ business. 
 2. Definitions. As used herein, the following definitions shall apply:

 (a) “Administrator” means the Board or any of the Committees appointed to administer the Plan. All references to
the “Committee” in any Award Agreement shall be deemed to refer to the Administrator. 
 (b) “Affiliate”
and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under the Exchange Act. All references to “Affiliates” in any Award Agreement issued prior to the date of
adoption by the Board of this March 20, 1997 amendment and restatement of the Plan shall be deemed to refer to Parents and Subsidiaries. 
 (c) “Applicable Laws” means the legal requirements relating to the administration of stock incentive plans, if any, under applicable provisions of federal securities laws, state corporate and securities
laws, the Code, the rules of any applicable stock exchange or national market system, and the rules of any foreign jurisdiction applicable to Awards granted to residents therein. 
 (d) “Award” means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Performance Unit, Performance Share,
or other right or benefit under the Plan. Award also includes all Options issued in 1996 notwithstanding any recital that the Option is intended to have been issued outside the terms of the Plan. 
 (e) “Award Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee,
including any amendments thereto. 
 (f) “Board” means the Board of Directors of the Company. 
 (g) “Change in Control” means a change in ownership or control of the Company effected through either of the following
transactions: 
 (i) the direct or indirect acquisition by any person or related group of persons (other than an acquisition from or by the
Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 of the
Exchange Act) of securities possessing more than twenty percent (20%) of the total combined voting power of the Company’s outstanding securities, or 
  

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 (ii) a change in the composition of the Board over a period of thirty-six (36) months or less such
that a majority of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are Continuing Directors. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended. 
 (i) “Committee” means any committee appointed by the Board to administer the Plan. 
 (j) “Common Stock” means the common stock of the Company. 
 (k) “Company” means Glenborough Realty Trust Incorporated, a Maryland corporation. 
 (l) “Consultant” means any person who is engaged by the Company or any Related Entity to render consulting or advisory services
as an independent contractor and is compensated for such services. 
 (m) “Continuing Directors” means members
of the Board who either (i) have been Board members continuously for a period of at least thirty-six (36) months or (ii) have been Board members for less than thirty-six (36) months and were elected or nominated for election as
Board members by at least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 
 (n) “Continuous Status as an Employee, Director or Consultant” means that the provision of services to the Company or a Related
Entity in any capacity of Employee, Director or Consultant, is not interrupted or terminated. Continuous Status as an Employee, Director or Consultant shall not be considered interrupted in the case of (i) any approved leave of absence or
(ii) transfers between locations of the Company or among the Company, its Related Entities, or any successor in any capacity of Employee, Director or Consultant. An approved leave of absence shall include sick leave, military leave, or any
other authorized personal leave. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. 
 (o) “Corporate Transaction” means any of the following stockholder-approved transactions to which the Company is a party:

 (i) a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is
to change the state in which the Company is incorporated; 
  

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 (ii) the sale, transfer or other disposition of all or substantially all of the assets of the Company
(including the capital stock of the Company’s subsidiary corporations) in connection with the complete liquidation or dissolution of the Company; or 
 (iii) any reverse merger in which the Company is the surviving entity but in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding
securities are transferred to a person or persons different from those who held such securities immediately prior to such merger. 
 (p)
“Covered Employee” means an Employee who is a “covered employee” under Section 162(m)(3) of the Code. 
 (q) “Director” means a member of the Board. 
 (r) “Dividend Equivalent Right” means
a right entitling the Grantee to compensation measured by dividends paid with respect to Common Stock. 
 (s)
“Employee” means any person, including an Officer or Director, who is an employee of the Company or a Related Entity. The payment of a director’s fee by the Company shall not be sufficient to constitute
“employment” by the Company. 
 (t) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 (u) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) Where there exists a public market for the Common Stock, the Fair Market Value shall be (A) the closing price for a Share for the last market
trading day prior to the time of the determination (or, if no closing price was reported on that date, on the last trading date on which a closing price was reported) on the stock exchange determined by the Administrator to be the primary market for
the Common Stock or the Nasdaq National Market, whichever is applicable or (B) if the Common Stock is not traded on any such exchange or national market system, the average of the closing bid and asked prices of a Share on the Nasdaq Small Cap
Market for the day prior to the time of the determination (or, if no such prices were reported on that date, on the last date on which such prices were reported), in each case, as reported in The Wall Street Journal or such other source as
the Administrator deems reliable; or 
 (ii) In the absence of an established market of the type described in (i), above, for the Common
Stock, the Fair Market Value thereof shall be determined by the Administrator in good faith. 
 (v) “Grantee” means
an Employee, Director or Consultant who receives an Award under the Plan. 
 (w) “Incentive Stock Option” means an
Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code. 
 (x) “Non-Employee
Director” means a Director who is not an Officer. 
  

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 (y) “Non-Qualified Stock Option” means an Option not intended to qualify as an
Incentive Stock Option. 
 (z) “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (aa) “Option” means a
stock option granted pursuant to the Plan. 
 (bb) “Parent” means a “parent corporation,” whether now or
hereafter existing, as defined in Section 424(e) of the Code. 
 (cc) “Performance - Based Compensation” means
compensation qualifying as “performance-based compensation” under Section 162(m) of the Code. 
 (dd) “Performance
Shares” means Shares or an award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator. 
 (ee) “Performance Units” means an award which may be earned in whole or in part upon attainment of performance criteria
established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator. 
 (ff) “Plan” means this 1996 Stock Incentive Plan, as amended and restated. 
 (gg) “Related Entity” means any Parent, Subsidiary and any business, corporation, partnership, limited liability company or other
entity in which the Company, a Parent or a Subsidiary holds an ownership interest, directly or indirectly, including but not limited to Glenborough Corporation, Glenborough Hotel Group, Glenborough Inland Realty Corporation, and Glenborough
Properties, L.P. 
 (hh) “Restricted Stock” means Shares issued under the Plan to the Grantee for such consideration,
if any, and subject to such restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. 
 (ii) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor thereto. 
 (jj) “SAR” means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the
Administrator, measured by appreciation in the value of Common Stock. 
 (kk) “Share” means a share of the Common
Stock. 
 (ll) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined
in Section 424(f) of the Code. 
  

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 (mm) “Subsidiary Disposition” means the disposition by the Company of its equity
holdings in any subsidiary corporation effected by a merger or consolidation involving that subsidiary corporation, the sale of all or substantially all of the assets of that subsidiary corporation or the Company’s sale or distribution of
substantially all of the outstanding capital stock of such subsidiary corporation. 
 3. Stock Subject to the Plan. 
 (a) Subject to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to Awards shall be three
million six hundred seventy thousand eight hundred thirty-three (3,670,833) Shares. Notwithstanding the foregoing, subject to the provisions of Section 10, below, the maximum aggregate number of Shares available for grant of Incentive
Stock Options shall be one million one hundred forty thousand (1,140,000) Shares, and such number shall not be subject to adjustment as described above. The Shares to be issued pursuant to Awards may be authorized, but unissued, or reacquired
Common Stock. 
 (b) If an Award expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an
Award exchange program, or if any unissued Shares are retained by the Company upon exercise of an Award in order to satisfy the exercise price for such Award or any withholding taxes due with respect to such Award, such unissued or retained Shares
shall become available for future grant or sale under the Plan (unless the Plan has terminated). Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and shall not become available for future
distribution under the Plan, except that if unvested Shares are forfeited, or repurchased by the Company at their original purchase price, such Shares shall become available for future grant under the Plan. 
 4. Administration of the Plan. 
 (a)
Plan Administrator. 
 (i) Administration with Respect to Directors and Officers. With respect to grants of Awards to
Directors or Employees who are also Officers or Directors of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the
Applicable Laws and to permit such grants and related transactions under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall continue to serve in its designated
capacity until otherwise directed by the Board. Subject to Rule 16b-3 and Applicable Laws, the Board may authorize one or more Officers to grant such Awards and may limit such authority as the Board determines from time to time. 
 (ii) Administration With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultants who are neither
Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed,
such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and may limit such authority as the Board determines from time to time.

  

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 (iii) Administration With Respect to Covered Employees. Notwithstanding the foregoing, grants of
Awards to any Covered Employee intended to qualify as Performance-Based Compensation shall be made only by a Committee (or subcommittee of a Committee) which is comprised solely of two or more Directors eligible to serve on a committee making Awards
qualifying as Performance-Based Compensation. In the case of such Awards granted to Covered Employees, references to the “Administrator” or to a “Committee” shall be deemed to be references to such Committee or subcommittee.

 (iv) Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this
subsection (a), such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 
 (b)
Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator hereunder), and except as otherwise provided by the Board, the Administrator shall have the
authority, in its discretion: 
 (i) to select the Employees, Directors and Consultants to whom Awards may be granted from time to time
hereunder; 
 (ii) to determine whether and to what extent Awards are granted hereunder; 
 (iii) to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder; 
 (iv) to approve forms of Award Agreement for use under the Plan; 
 (v) to determine the terms and conditions of any Award granted hereunder; 
 (vi) to amend the terms of any
outstanding Award granted under the Plan, including a reduction in the exercise price (or base amount on which appreciation is measured) of any Award to reflect a reduction in the Fair Market Value of the Common Stock since the grant date of the
Award, provided that any amendment that would adversely affect the Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent; 
 (vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 
 (viii) to establish additional terms, conditions, rules or procedures to accommodate the rules or laws of applicable foreign jurisdictions and to afford
Grantees favorable treatment under such laws; provided, however, that no Award shall be granted under any such additional terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of the Plan; and

  

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 (ix) to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems
appropriate. 
 (c) Effect of Administrator’s Decision. All decisions, determinations and interpretations of the
Administrator shall be conclusive and binding on all persons. 
 5. Eligibility. Awards other than Incentive Stock Options may be
granted to Employees, Directors and Consultants. Incentive Stock Options may be granted only to Employees of the Company, a Parent or a Subsidiary. An Employee, Director or Consultant who has been granted an Award may, if otherwise eligible, be
granted additional Awards. Awards may be granted to such Employees, Directors or Consultants who are residing in foreign jurisdictions as the Administrator may determine from time to time. 
 6. Terms and Conditions of Awards. 
 (a) Type of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves
or might involve the issuance of (i) Shares, (ii) an Option, a SAR or similar right with an exercise or conversion privilege at a fixed or variable price related to the Common Stock and/or the passage of time, the occurrence of one or more
events, or the satisfaction of performance criteria or other conditions, or (iii) any other security with the value derived from the value of the Common Stock or other securities issued by a Related Entity. Such awards include, without
limitation, Options, SARs, sales or bonuses of Restricted Stock, Dividend Equivalent Rights, Performance Units or Performance Shares, and an Award may consist of one such security or benefit, or two or more of them in any combination or alternative.

 (b) Designation of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall
be designated as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of Shares subject to Options designated as Incentive Stock Options which
become exercisable for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess Options, to the extent of the Shares covered thereby in excess of the foregoing
limitation, shall be treated as Non-Qualified Stock Options. For this purpose, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the date
the Option with respect to such Shares is granted. 
 (c) Conditions of Award. Subject to the terms of the Plan, the
Administrator shall determine the provisions, terms, and conditions of each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or
other consideration) upon settlement of the Award, payment contingencies, and satisfaction of any performance criteria. The performance criteria established by the Administrator may be based on any one of, or combination of, increase in share price,

  

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earnings per share, total stockholder return, return on equity, return on assets, return on investment, net operating income, cash flow, revenue, economic
value added, personal management objectives, or other measure of performance selected by the Administrator. Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified in
the Award Agreement. 
 (d) Deferral of Award Payment. The Administrator may establish one or more programs under the Plan to
permit selected Grantees the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Grantee to payment or receipt of Shares or
other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares or other consideration
so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for the administration of any such deferral program. 
 (e) Award Exchange Programs. The Administrator may establish one or more programs under the Plan to permit selected Grantees to exchange an Award under the Plan for one or more other types of Awards
under the Plan on such terms and conditions as determined by the Administrator from time to time. 
 (f) Separate Programs. The
Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.

 (g) Individual Option and SAR Limit. The maximum number of Shares with respect to which Options and SARs may be granted to
any Employee in any calendar year shall be five hundred thousand (500,000) Shares. The foregoing limitation shall be adjusted proportionately in connection with any change in the Company’s capitalization pursuant to Section 10, below.
To the extent required by Section 162(m) of the Code or the regulations thereunder, in applying the foregoing limitation with respect to an Employee, if any Option or SAR is canceled, the canceled Option or SAR shall continue to count against
the maximum number of Shares with respect to which Options and SARs may be granted to the Employee. For this purpose, the repricing of an Option (or in the case of a SAR, the base amount on which the stock appreciation is calculated is reduced to
reflect a reduction in the Fair Market Value of the Common Stock) shall be treated as the cancellation of the existing Option or SAR and the grant of a new Option or SAR. 
 (h) Early Exercise. The Award may, but need not, include a provision whereby the Grantee may elect at any time while an Employee, Director or Consultant to exercise any part or all of the Award prior to
full vesting of the Award. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right in favor of the Company or to any other restriction the Administrator determines to be appropriate. 
 (i) Term of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an Incentive
Stock Option shall be no 

  

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more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted to a Grantee who, at the time the
Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option shall be five (5) years from the
date of grant thereof or such shorter term as may be provided in the Award Agreement. 
 (j) Transferability of Awards.
Incentive Stock Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Grantee, only by the
Grantee; provided, however, that the Grantee may designate a beneficiary of the Grantee’s Incentive Stock Option in the event of the Grantee’s death on a beneficiary designation form provided by the Administrator. Other Awards shall be
transferable to the extent provided in the Award Agreement. 
 (k) Time of Granting Awards. The date of grant of an Award shall
for all purposes be the date on which the Administrator makes the determination to grant such Award, or such other date as is determined by the Administrator. Notice of the grant determination shall be given to each Employee, Director or Consultant
to whom an Award is so granted within a reasonable time after the date of such grant. 
 7. Award Exercise or Purchase Price,
Consideration, Taxes and Reload Options. 
 (a) Exercise or Purchase Price. The exercise or purchase price, if any, for an
Award shall be as follows: 
 (i) In the case of an Incentive Stock Option: 
 (A) granted to an Employee who, at the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%) of the
voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. 
 (B) granted to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant. 
 (ii) In the case of Awards intended to qualify as
Performance-Based Compensation, the exercise or purchase price, if any, shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
 (iii) In the case of other Awards, such price as is determined by the Administrator. 
  

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 (b) Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares
to be issued upon exercise or purchase of an Award including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). In addition to any other types of
consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under the Plan the following: 
 (i) cash; 
 (ii) check; 
 (iii) delivery of Grantee’s promissory note with such recourse, interest, security, and redemption provisions as the Administrator determines as appropriate; 
 (iv) surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require (including
withholding of Shares otherwise deliverable upon exercise of the Award) which have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be exercised (but only to
the extent that such exercise of the Award would not result in an accounting compensation charge with respect to the Shares used to pay the exercise price unless otherwise determined by the Administrator); 
 (v) delivery of a properly executed exercise notice together with such other documentation as the Administrator and the broker, if applicable, shall
require to effect an exercise of the Award and delivery to the Company of the sale or loan proceeds required to pay the exercise price; or 
 (vi) any combination of the foregoing methods of payment. 
 (c) Taxes. No Shares shall be delivered under the Plan to
any Grantee or other person until such Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of any foreign, federal, state, or local income and employment tax withholding obligations, including, without
limitation, obligations incident to the receipt of Shares or the disqualifying disposition of Shares received on exercise of an Incentive Stock Option. Upon exercise of an Award, the Company shall withhold or collect from Grantee an amount
sufficient to satisfy such tax obligations. 
 (d) Reload Options. In the event the exercise price or tax withholding of an
Option is satisfied by the Company or the Grantee’s employer withholding Shares otherwise deliverable to the Grantee, the Administrator may issue the Grantee an additional Option, with terms identical to the Award Agreement under which the
Option was exercised, but at an exercise price as determined by the Administrator in accordance with the Plan. 
  

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 8. Exercise of Award. 
 (a) Procedure for Exercise; Rights as a Stockholder. 
 (i) Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms of the Plan and specified in the Award Agreement. 
 (ii) An Award shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the
Award by the person entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised has been received by the Company. Until the issuance (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to Shares subject to an Award,
notwithstanding the exercise of an Option or other Award. The Company shall issue (or cause to be issued) such stock certificate promptly upon exercise of the Award. No adjustment will be made for a dividend or other right for which the record date
is prior to the date the stock certificate is issued, except as provided in the Award Agreement or Section 10, below. 
 (b)
Exercise of Award Following Termination of Employment, Director or Consulting Relationship. 
 (i) An Award may not be
exercised after the termination date of such Award set forth in the Award Agreement and may be exercised following the termination of a Grantee’s Continuous Status as an Employee, Director or Consultant only to the extent provided in the Award
Agreement. 
 (ii) Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee’s
Continuous Status as an Employee, Director or Consultant for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last day of the original term of the Award, whichever occurs first.

 (iii) Any Award designated as an Incentive Stock Option to the extent not exercised within the time permitted by law for the exercise of
Incentive Stock Options following the termination of a Grantee’s Continuous Status as an Employee, Director or Consultant shall convert automatically to a Non-Qualified Stock Option and thereafter shall be exercisable as such to the extent
exercisable by its terms for the period specified in the Award Agreement. 
 (c) Buyout Provisions. The Administrator may at
any time offer to buy out for a payment in cash or Shares, an Award previously granted, based on such terms and conditions as the Administrator shall establish and communicate to the Grantee at the time that such offer is made. 
  

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 9. Conditions Upon Issuance of Shares. 
 (a) Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares
pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
 (b) As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for
investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws. 
 10. Adjustments Upon Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of Shares covered by
each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan, as well as the price per share of Common Stock covered
by each such outstanding Award, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the
Common Stock, or any other similar event resulting in an increase or decrease in the number of issued shares of Common Stock. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible
into shares of stock of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award. 
 11. Corporate Transactions/Changes in Control/Subsidiary Dispositions. 
 (a) The Administrator shall
have the authority, exercisable either in advance of any actual or anticipated Corporate Transaction, Change in Control or Subsidiary Disposition or at the time of an actual Corporate Transaction, Change in Control or Subsidiary Disposition and
exercisable at the time of the grant of an Award under the Plan or any time while an Award remains outstanding, to provide for the full automatic vesting and exercisability of one or more outstanding unvested Awards under the Plan and the release
from restrictions on transfer and repurchase or forfeiture rights of such Awards in connection with a Corporate Transaction, Change in Control or Subsidiary Disposition, on such terms and conditions as the Administrator may specify. The
Administrator also shall have the authority to condition any such Award vesting and exercisability or release from such limitations upon the subsequent termination of the Continuous Status as an Employee or Consultant of the Grantee within a
specified period following the effective date of the Change in Control or Subsidiary Disposition. The Administrator may provide that any Awards so vested or released from such limitations in connection with a Change in Control or Subsidiary
Disposition, shall remain fully exercisable until the expiration or sooner termination of the Award. Effective upon the consummation of a Corporate Transaction, all outstanding Awards under the Plan shall terminate unless assumed by the successor
company or its Parent. 
  

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 (b) In the event of a Corporate Transaction, each Award granted to Non-Employee Directors pursuant to the
formula grant provisions of Section 6 of the Plan prior to this March 20, 1997 amendment and restatement of the Plan which is at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released
from any restrictions on transfer and repurchase or forfeiture rights, immediately prior to the specified effective date of such Corporate Transaction, for all of the Shares at the time represented by such Award. Effective upon the consummation of
the Corporate Transaction, all outstanding Awards under the Plan shall terminate unless assumed by the successor company or its Parent. 
 (c) In the event of a Change in Control (other than a Change in Control which also is a Corporate Transaction), each Award granted to Non-Employee Directors pursuant to the formula grant provisions of Section 6 of the Plan prior to
this March 20, 1997 amendment and restatement of the Plan which is at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released from any restrictions on transfer and repurchase or forfeiture
rights, immediately prior to the specified effective date of such Change in Control, for all of the Shares at the time represented by such Award. Each such Award shall remain so exercisable until the expiration or sooner termination of the
applicable Award term. 
 (d) The portion of any Incentive Stock Option accelerated under this Section 11 in connection with a Corporate
Transaction, Change in Control or Subsidiary Disposition shall remain exercisable as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. To the extent such
dollar limitation is exceeded, the accelerated excess portion of such Option shall be exercisable as a Non-Qualified Stock Option. 
 12.
Term of Plan. The Plan shall terminate with respect to the grant of Incentive Stock Options on April 1, 2006 unless sooner terminated. 
 13. Amendment, Suspension or Termination of the Plan. 
 (a) The Board may at any time amend, suspend or terminate the Plan.
To the extent necessary to comply with Applicable Laws, the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required. 
 (b) No Award may be granted during any suspension of the Plan or after termination of the Plan. 
 (c) Any amendment, suspension or termination of the Plan shall not affect Awards already granted, and such Awards shall remain in full force and effect
as if the Plan had not been amended, suspended or terminated, unless mutually agreed otherwise between the Grantee and the Administrator, which agreement must be in writing and signed by the Grantee and the Company. 
  

 13 

 14. Reservation of Shares. 
 (a) The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the
requirements of the Plan. 
 (b) The inability of the Company to obtain authority from any regulatory body having jurisdiction, which
authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite
authority shall not have been obtained. 
 15. No Effect on Terms of Employment. The Plan shall not confer upon any Grantee any right
with respect to continuation of employment or consulting relationship with the Company, nor shall it interfere in any way with his or her right or the Company’s right to terminate his or her employment or consulting relationship at any time,
with or without cause. 
 16. Stockholder Approval. The Plan became effective when adopted by the Board on April 1, 1996, and was
approved by the Company’s stockholders on May 15, 1996. On March 20, 1997, the Board adopted and approved an amendment and restatement of the Plan to reflect the amendments promulgated by the Securities and Exchange Commission to Rule
16b-3 applicable to the Plan, to adjust the formula for determining the maximum aggregate number of Shares that may be issued pursuant to Awards by determining the number of Shares outstanding on the day immediately following the most recent
issuance of Shares or securities convertible into Shares, to increase the aggregate maximum number of Shares that may be available for the grant of Incentive Stock Options, to permit the grant of Dividend Equivalent Rights, SARs, Performance Units
and Performance Shares, to address the rules or laws of foreign jurisdictions applicable to Awards granted to residents therein, to permit Awards to include an early exercise provision, to increase the maximum number of Shares with respect to which
Options and SARs may be granted to any Employee in any calendar year (such increase to be effective as of August 2, 1996), and to authorize the establishment under the Plan of separate programs for the grant of particular forms of Awards to one
or more classes of Grantees, and programs to permit selected Grantees to elect to defer the receipt of consideration payable under an Award (collectively, the “Amendments”), subject to stockholder approval of the Amendments which was
obtained on May 15, 1997. On May 4, 2006, the Board adopted and approved an amendment and restatement of the Plan to establish a limit on the maximum number of Shares that are available for the grant of Awards under the Plan, which
amendment and restatement is not subject to stockholder approval. 
  

 14Credit Agreement

 Exhibit 10.1 
 CREDIT AGREEMENT 
 Between 
 U.S. BANK NATIONAL ASSOCIATION 
 and 
 GETTY IMAGES, INC. 
 Dated as of
May 4, 2006 

 TABLE OF CONTENTS 
  

					
	ARTICLE I.	  	DEFINITIONS	  	1
	 1.1
	  	Terms Defined	  	1
	 1.2
	  	Accounting Terms	  	6
	 1.3
	  	Rules of Construction	  	6
	 1.4
	  	Incorporation of Recitals and Exhibits	  	6
			
	ARTICLE II.	  	REVOLVING LOAN	  	6
	 2.1
	  	Loan Commitment	  	6
	 2.2
	  	Use of Proceeds	  	7
	 2.3
	  	Revolving Note	  	7
	 2.4
	  	Interest	  	7
	 2.5
	  	Repayment	  	7
	 2.6
	  	Fundings	  	7
	 2.7
	  	Revolving Loan Fee	  	8
	 2.8
	  	Manner of Payment	  	8
	 2.9
	  	Maximum Interest Rate	  	8
	 2.10
	  	Late Charge	  	8
	 2.11
	  	Increased Costs	  	9
			
	ARTICLE III.	  	CONDITIONS PRECEDENT FOR FUNDINGS UNDER THE REVOLVING LOAN	  	10
	 3.1
	  	Conditions Precedent for Initial Funding	  	10
	 3.2
	  	Conditions Precedent to Each Subsequent Funding	  	10
			
	ARTICLE IV.	  	AFFIRMATIVE COVENANTS	  	11
	 4.1
	  	Financial Data	  	11
	 4.2
	  	Licenses and Permits	  	12
	 4.3
	  	Maintenance of Properties	  	12
	 4.4
	  	Payment of Charges	  	12
	 4.5
	  	Insurance	  	13
	 4.6
	  	Inspection	  	13
	 4.7
	  	Hazardous Substances	  	13
	 4.8
	  	Preservation of Existence	  	13
	 4.9
	  	Notice of Disputes and Other Matters	  	14
	 4.10
	  	Exchange of Note	  	14
	 4.11
	  	Additional Guarantors	  	14
	 4.12
	  	Further Assurances	  	15
			
	ARTICLE V.	  	NEGATIVE COVENANTS	  	15
	 5.1
	  	Dividends and Distributions	  	15
	 5.2
	  	Transactions With Affiliates	  	15
	 5.3
	  	Liens	  	15

  

 PAGE i 

					
	 5.4
	  	Advances and Loans	  	16
	 5.5
	  	Investments	  	17
	 5.6
	  	Consolidation, Merger and Sale of Assets	  	17
	 5.7
	  	Pension Plan	  	17
			
	ARTICLE VI.	  	REPRESENTATIONS AND WARRANTIES	  	18
	 6.1
	  	Existence, Qualification and Power; Compliance with Laws	  	18
	 6.2
	  	Authorization; No Contravention	  	18
	 6.3
	  	Governmental Authorization; Other Consents	  	18
	 6.4
	  	Binding Effect	  	18
	 6.5
	  	Financial Statements; No Material Adverse Effect	  	19
	 6.6
	  	Litigation	  	19
	 6.7
	  	No Default	  	19
	 6.8
	  	Ownership of Property; Liens	  	19
	 6.9
	  	Environmental Compliance	  	20
	 6.10
	  	Insurance	  	20
	 6.11
	  	Taxes	  	20
	 6.12
	  	Pension Plans	  	20
	 6.13
	  	Subsidiaries	  	20
	 6.14
	  	Margin Regulations; Investment Company Act; Public Utility Holding Company Act	  	21
	 6.15
	  	Intellectual Property; Etc	  	21
	 6.16
	  	Solvency	  	21
	 6.17
	  	Disclosure	  	21
			
	ARTICLE VII.	  	EVENTS OF DEFAULT; REMEDIES	  	22
	 7.1
	  	Events of Default	  	22
	 7.2
	  	Acceleration; Remedies	  	23
			
	ARTICLE VIII.	  	MISCELLANEOUS	  	24
	 8.1
	  	Notices	  	24
	 8.2
	  	Payment of Expenses	  	25
	 8.3
	  	Setoff	  	25
	 8.4
	  	Waiver of Setoff	  	26
	 8.5
	  	Fees and Commissions	  	26
	 8.6
	  	No Waiver	  	26
	 8.7
	  	Entire Agreement and Amendments	  	26
	 8.8
	  	Benefit of Agreement	  	26
	 8.9
	  	Severability	  	27
	 8.10
	  	Descriptive Headings	  	27
	 8.11
	  	Governing Law	  	27
	 8.12
	  	Consent to Jurisdiction, Service and Venue	  	27
	 8.13
	  	Counterparts	  	27
	 8.14
	  	Patriot Act	  	28
	 8.15
	  	Jury Waiver	  	28
	 8.16
	  	Statutory Notice	  	28

  

 PAGE ii 

					
	EXHIBITS
			
	 Exhibit A
	  	—	  	Revolving Note, Section 2.3
			
	 Exhibit B
	  	—	  	Guaranty, Section 3.1(b)
	
	SCHEDULES
			
	 Schedule 5.3
	  	—	  	Existing Liens
			
	 Schedule 6.6
	  	—	  	Litigation
			
	 Schedule 6.9
	  	—	  	Environmental Matters
			
	 Schedule 6.13
	  	—	  	Subsidiaries and Other Investments

  

 PAGE iii 

 CREDIT AGREEMENT 
 This Credit Agreement (this “Agreement”) is made and entered into as of the 4th day of May, 2006, by and between GETTY IMAGES, INC., a Delaware corporation (“Borrower”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (“U.S. Bank”). Words and phrases with initial
capitalized letters have the meanings assigned in Section 1.1. 
 RECITALS 
 Borrower has requested U.S. Bank to extend to Borrower a revolving line of credit in the amount of $100,000,000 to Borrower and U.S. Bank is
willing to do so on the terms and conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants and conditions
set forth herein, the parties agree as follows: 
 ARTICLE I. DEFINITIONS 
  

	 	1.1	Terms Defined 

 As used herein, the following terms
have the meanings set forth below: 
 “Affiliate” means a Person that now or hereafter, directly or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with Borrower. A Person shall be deemed to control a corporation, limited liability company or partnership if such Person possesses, directly or indirectly, the power to direct or
cause the direction of the management of such corporation, limited liability company or partnership, whether through the ownership of voting securities, by contract, or otherwise. 
 “Agreement” means this credit agreement and includes all amendments to this Agreement. 
 “Applicable Law” means all applicable provisions and requirements of all (a) constitutions, statutes, ordinances, rules, regulations,
standards, orders and directives of any Governmental Bodies, (b) Governmental Approvals, and (c) orders, decisions, decrees, judgments, injunctions and writs of all courts and arbitrators, whether such Applicable Laws presently exist, or
are modified, promulgated or implemented after the date hereof. 
 “Borrower” has the meaning set forth in the introductory
paragraph to this Agreement, and includes its successors. 
 “Borrowing Notice” has the meaning set forth in Section 2.6(a).

  

 PAGE 1 

 “Business Day” means any day except a Saturday, Sunday or other day on which national banks in
the state of Washington are authorized or required by law to close. 
 “Cash Equivalents” means, as at any date of determination,
(a) marketable securities (i) issued or directly and unconditionally guaranteed as to interest and principal by the United States Government or (ii) issued by any agency of the United States the obligations of which are backed by the
full faith and credit of the United States, in the case of (i) and (ii) maturing within one year after such date or (iii) issued by any government-sponsored enterprise; (b) marketable direct obligations issued by any state of the
United States of America or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-1 from
S&P or at least P-1 from Moody’s; (c) commercial paper maturing no more than one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from
Moody’s; (d) certificates of deposit or bankers’ acceptances maturing within one year after such date and issued or accepted by U.S. Bank or by any commercial bank organized under the laws of the United States of America or any state
thereof or the District of Columbia that (i) is at least “adequately capitalized” (as defined in the regulations of its primary Federal banking regulator) and (ii) has Tier 1 capital (as defined in such regulations) of not less
than $100,000,000; (e) shares of any money market mutual fund that (i) has substantially all of its assets invested continuously in the types of investments referred to in clauses (a) and (b) above, (ii) has net assets of
not less than $500,000,000, and (iii) has the highest rating obtainable from either S&P or Moody’s; and (f) corporate bonds, debentures or notes (including asset-backed securities) maturing no more than four years from the date of
this Agreement and having, at the time of acquisition thereof, a rating of at least A from S&P or at least A3 from Moody’s. 
 “Default” means any condition or event that constitutes an Event of Default or with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Domestic Subsidiary” means any Subsidiary that is organized and existing under the laws of the United States or any state or commonwealth
thereof or under the laws of the District of Columbia. 
 “EBITDA” means Borrower’s consolidated net income, plus interest
expense, plus income tax expense, plus depreciation expense plus amortization expense. 
 “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended from time to time. 
 “Event of Default” has the meaning set forth in Section 7.1.

 “Funding” means any disbursement of the proceeds of the Revolving Loan. 
  

 PAGE 2 

 “GAAP” means generally accepted accounting principles in the United States set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a
significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 
 “Governmental Approval” means any authorization, consent, approval, certificate of compliance, license, permit or exemption from, contract with, registration or filing with, or report or notice to, any
Governmental Body required or permitted by Applicable Law. 
 “Governmental Body” means the government of the United States, any
state or any foreign country, or any governmental or regulatory official, body, department, bureau, subdivision, agency, commission, court, arbitrator or authority, or any instrumentality thereof, whether federal, state, or local. 
 “Guaranty” has the meaning set forth in Section 3.1(b) and includes all replacements, amendments and modifications of the Guaranty.

 “Guarantors” means Getty Images (US), Inc., and all other Persons from time to time a party to any Guaranty. 
 “Hazardous Materials” means oil or petrochemical products, PCB’s, asbestos, urea formaldehyde, flammable explosives, radioactive
materials, hazardous wastes, toxic substances or related materials, including, but not limited to, substances defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials”
or “toxic substances” under any Hazardous Materials Laws. 
 “Hazardous Materials Claims” means (a) enforcement,
cleanup, removal or other regulatory actions instituted, completed or threatened by any Governmental Body pursuant to any applicable Hazardous Materials Laws and (b) claims made or threatened by any third party against Borrower or its property
relating to damage, contribution, cost recovery, compensation, loss or injury resulting from Hazardous Materials. 
 “Hazardous
Materials Laws” means all Applicable Laws pertaining to Hazardous Materials. 
 “Indebtedness” means all items that in
accordance with GAAP would be included in determining total liabilities as shown on the liabilities side of the balance sheet as of the date that “Indebtedness” is to be determined and in any event includes liabilities secured by any
mortgage, deed of trust, pledge, lien or security interest on property owned or acquired, whether or not such a liability has been assumed, and the guaranties, endorsements (other than for collection in the ordinary course of business) and other
contingent obligations with regard to the obligations of other Persons. 
  

 PAGE 3 

 “Intellectual Property” means, as to any Person, all of the following: 
 (a) All trademarks, service marks, designs, trade names, corporate names, company names, business names, fictitious business names, trade styles, trade
dress, logos, other source or business identifiers owned or used by such Person in its business or hereafter adopted or acquired, all registrations and recordings thereof, and all registration and recording applications filed in connection
therewith, including registrations and pending applications in the United States Patent and Trademark Office, any State of the United States or any similar offices in any other country or any political subdivision thereof, and all extensions or
renewals thereof; 
 (b) All letters patent of the United States or any other country or any political subdivision thereof, all registrations
and recordings thereof, and all applications for letters patent of the United States or the equivalent thereof in any other country owned by such Persons, including registrations, recordings and pending applications in the United States Patent and
Trademark Office or the equivalent thereof in any similar offices in any other country, and all reissues, continuations, divisions, continuations-inpart, renewals or extensions thereof, and the inventions disclosed or claimed therein, including the
right to make, use and/or sell the inventions disclosed or claimed therein; 
 (c) All computer programs, computer data bases, other computer
software, trade secrets, trade secret rights, ideas, drawings, designs, schematics, algorithms, writings, techniques, processes and formulas owned or used by such Person in its business; and 
 (d) All copyright rights of such Person in any work subject to the copyright laws of the United States, any state thereof or any other country or any
political subdivision thereof, whether registered or unregistered and whether published or unpublished, whether as author, assignee, transferee or otherwise, and all registrations and applications for registration of any such copyright in the United
States, any state thereof or any other country or any political subdivision thereof, including registrations, recordings, supplemental registrations and pending applications for registration in the United States Copyright Office or in any similar
offices in any other country. 
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, and any financing lease having
substantially the same economic effect as any of the foregoing and, for the avoidance of doubt, not including any operating leases). 
 “Loan Documents” means this Agreement, the Revolving Note and the Guaranty, together with all other agreements, instruments and documents arising out of or relating to this Agreement or the Revolving Loan, and includes all
renewals, replacements and amendments thereof. 
 “Loan Parties” means Borrower and all Guarantors. 
  

 PAGE 4 

 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse
effect upon, the operations, business, properties, liabilities (actual or contingent) or condition (financial or otherwise) of Borrower or Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of any Loan
Party to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party.

 “Material Subsidiary” means, as of any date of determination, any Subsidiary whose total revenues comprise, or are reasonably
expected to comprise, 10 percent or more of (a) the total consolidated revenues of Borrower for the then current fiscal year of Borrower (on a pro forma basis) or for either of the two most recently ended fiscal years of Borrower or
(b) the total consolidated assets of Borrower as the last day of Borrower’s most recently ended fiscal quarter. 
 “New York
Banking Day” means any day (other than a Saturday or Sunday) on which commercial banks are open for business in New York, New York. 
 “Obligations” has the meaning set forth in Section 8.3. 
 “Participant” means any financial institution to
which U.S. Bank sells a participation in the Revolving Loan. 
 “Person” means any individual, partnership, limited liability
company, joint venture, firm, corporation, association, trust or other enterprise or any Governmental Body. 
 “Plan” means an
employee pension benefit plan that is covered by ERISA or subject to the minimum funding standards under Section 412 of the Internal Revenue Code of 1986 and is either (a) maintained by Borrower or any Affiliate for employees of Borrower
or any Affiliate or (b) maintained pursuant to a collective bargaining agreement or any other arrangement under which more than one employer makes contributions and to which Borrower or any Affiliate is then making or accruing an obligation to
make contributions or has within the preceding five plan years made contributions. 
 “Revolving Loan” has the meaning set forth in
Section 2.1 and includes all renewals, replacements and amendments of the Revolving Loan. 
 “Revolving Note” has the meaning
set forth in Section 2.3 and includes all renewals, replacements and amendments of the Revolving Note. 
 “Setoff” has the
meaning set forth in Section 8.3. 
 “Subsidiary” means a corporation, partnership, limited liability company, joint venture
or other business entity of which a majority of the shares of securities or other interests having voting power for the election of directors or other governing body (other than securities or other interests favoring such power only by reason of the
happening of a 

  

 PAGE 5 

 
contingency) are owned or the management of which is otherwise controlled, directly or indirectly, by or through one or more intermediaries, or both, by
Borrower. 
 “Total Funded Debt” means Borrower’s consolidated indebtedness for borrowed money, for the deferred purchase
price of property or services not purchased on ordinary trade terms, for capitalized leases and other liabilities evidenced by promissory notes or other instruments. 
 “U.S. Bank” means U.S. Bank National Association, a national banking association, and its successors and assigns. 
  

	 	1.2	Accounting Terms 

 Unless otherwise specified
herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP consistently applied.

  

	 	1.3	Rules of Construction 

 Unless the context otherwise
requires, the following rules of construction apply to the Loan Documents: 
 (a) Words in the singular include the plural and in the plural
include the singular. 
 (b) Provisions of the Loan Documents apply to successive events and transactions. 
 (c) In the event of any inconsistency between the provisions of this Agreement and the provisions of any of the other Loan Documents, the provisions of
this Agreement govern. 
  

	 	1.4	Incorporation of Recitals and Exhibits 

 The
foregoing recitals are incorporated into this Agreement by reference. All references to “Exhibits” contained herein are references to exhibits attached hereto, the terms and conditions of which are made a part hereof for all purposes.

 ARTICLE II. REVOLVING LOAN 
  

	 	2.1	Loan Commitment 

 Subject to and upon the terms and
conditions set forth herein and in reliance upon the representations, warranties and covenants of Borrower contained herein or made pursuant hereto, U.S. Bank will make Fundings to Borrower from time to time during the period ending on
May 2, 2007, but such Fundings shall not exceed, in the aggregate principal amount at any one time outstanding, $100,000,000 (the “Revolving Loan”). Borrower may 

  

 PAGE 6 

 
borrow, repay and reborrow hereunder either the full amount of the Revolving Loan or any lesser sum. 
  

	 	2.2	Use of Proceeds 

 The proceeds of the Revolving Loan
shall be used by Borrower to finance the purchase and retirement of a portion of Borrower’s issued and outstanding stock and for general corporate purposes, including the financing of the Subsidiaries. 
  

	 	2.3	Revolving Note 

 The Revolving Loan shall be
evidenced by a promissory note in the form attached hereto as Exhibit A (the “Revolving Note”). 
  

	 	2.4	Interest 

 (a) Interest on the outstanding principal
balance of the Loan shall accrue at an annual rate equal to 0.50 percent plus the one-month LIBOR rate quoted by U.S. Bank from Telerate Page 3750 or any successor thereto, which shall be that one-month LIBOR rate in effect and reset each
New York Banking Day, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation. U.S. Bank’s internal records of applicable interest rates shall be determinative in the absence of manifest
error. 
 (b) All computations of interest shall be based on a 360-day year for the actual number of days elapsed. 
 (c) Upon the occurrence and during the continuance of any Event of Default, U.S. Bank may, at its option, raise the interest rate charged on the
Revolving Loan to a rate of up to 4 percent per annum in excess of the rate provided for in Section 2.4(a) from the date of the occurrence of the Event of Default until the Event of Default is cured or waived by U.S. Bank or,
absent cure or waiver, until the Revolving Loan is repaid in full. 
  

	 	2.5	Repayment 

 (a) Interest on the Revolving Loan is
payable beginning June 1, 2006, and on the same date of each consecutive month thereafter, plus a final interest payment with the final payment of principal. 
 (b) The principal of the Revolving Loan is payable on May 2, 2007, the maturity date. 
  

	 	2.6	Fundings 

 (a) U.S. Bank is hereby authorized
by Borrower to make Fundings under the Revolving Loan upon receipt for each Funding of a written request therefor (including written requests communicated by facsimile) (“Borrowing Notice”) from the Chief Financial 

  

 PAGE 7 

 
Officer or Treasurer, each of whom is authorized to request Fundings and direct the disposition of any such Fundings until written notice by Borrower of the
revocation of such authority is received by U.S. Bank. All Fundings shall be deposited into Account
No.                             , which is an account of Borrower at U.S. Bank. 
 (b) Borrower acknowledges that U.S. Bank cannot effectively determine whether a particular request for a Funding is valid, authorized or authentic.
It is nevertheless important to Borrower that it has the privilege of making requests for Fundings in accordance with Section 2.6(a). Therefore, to induce U.S. Bank to lend funds in response to such requests and in consideration for
U.S. Bank’s agreement to receive and consider such requests, Borrower assumes all risk of the validity, authenticity and authorization of such requests, whether or not the individual making such requests has authority to request Fundings.
Except for the gross negligence or willful misconduct of U.S. Bank, U.S. Bank shall not be responsible under principles of contract, tort or otherwise for the amount of an unauthorized or invalid Funding; rather, Borrower agrees to repay
any sums with interest as provided herein. 
  

	 	2.7	Revolving Loan Fee 

 Concurrently with the execution
of this Agreement, Borrower shall pay U.S. Bank a nonrefundable advisory fee for the Revolving Loan in the amount of $100,000. 
  

	 	2.8	Manner of Payment 

 All sums payable to
U.S. Bank pursuant to this Agreement shall be paid directly to U.S. Bank in immediately available United States funds. Whenever any payment to be made hereunder or on the Revolving Note becomes due and payable on a day that is not a
Business Day, such payment may be made on the next succeeding Business Day and such extension of time shall in such case be included in computing interest on such payment. 
  

	 	2.9	Maximum Interest Rate 

 Notwithstanding any
provision contained herein or in the Revolving Note, the total liability of Borrower for payment of interest pursuant hereto, including late charges, shall not exceed the maximum amount of interest permitted by Applicable Law to be charged,
collected or received from Borrower; and if any payments by Borrower include interest in excess of that maximum amount, U.S. Bank shall apply the excess first to reduce the unpaid balance of the Revolving Loan, then to reduce the balance of any
other Indebtedness of Borrower to U.S. Bank. If there is no such Indebtedness, the excess shall be returned to Borrower. 
  

	 	2.10 	Late Charge 

 If any payment of principal or
interest required under the Revolving Loan is 15 days or more past due, Borrower will be charged a late charge of 5 percent of the delinquent payment or $5, whichever is greater, for each such late payment. The 15-day period provided

  

 PAGE 8 

 
for herein shall not be construed as a waiver of any Default or Event of Default resulting from any late payment under the Revolving Loan. 
  

	 	2.11 	Increased Costs 

 If, as a result of any law, rule,
regulation, treaty or directive implemented or adopted after the date of this Agreement, or any change therein or in the interpretation or administration thereof after the date of this Agreement, or compliance by U.S. Bank with any request or
directive implemented or adopted after the date of this Agreement (whether or not having the force of law) from any court, central bank, governmental authority, agency or instrumentality, or comparable agency: 
 (a) Any tax, duty or other charge to the Revolving Loan is imposed thereunder, modified or deemed applicable, or the basis of taxation of payments to
U.S. Bank of interest or principal of the Revolving Loan (other than taxes imposed on the overall gross or net income U.S. Bank or franchise taxes on U.S. Bank, in each such case, by the jurisdiction in which U.S. Bank has its
principal office, the lending office of U.S. Bank responsible for Fundings or any subdivision of any such jurisdiction) is changed; 
 (b) Any special deposit, special assessment or similar requirement against assets of, deposits with, or for the account of, or credit extended by, U.S. Bank is imposed, modified or deemed applicable; or 
 (c) Any increase in the amount of capital required or expected to be maintained by U.S. Bank or any person or entity controlling U.S. Bank is
imposed, modified or deemed applicable; 
 and U.S. Bank determines that, by reason thereof, the cost to U.S. Bank of making or maintaining the
Revolving Loan is increased, or the amount of any sum receivable by U.S. Bank hereunder or under the Revolving Notes is reduced; 
 then, Borrower shall
pay to U.S. Bank within 10 days of written demand (which demand shall include an explanation, in reasonable detail, of the cause for such demand) such additional amount or amounts as will compensate U.S. Bank (or the controlling
person or entity in the instance of (c) above) for such additional costs or reduction (provided that U.S. Bank has not been compensated for such additional cost or reduction in the calculation of the interest rate applicable to the
Revolving Loan). Determinations by U.S. Bank for purposes of this Section 2.11 of the additional amounts required to compensate U.S. Bank shall be prima facie evidence in the absence of manifest error. In determining such amounts,
U.S. Bank may use any reasonable averaging, attribution and allocation methods. Borrower shall not be responsible for additional costs or reductions for time periods prior to effective date of any new the law, rule, regulation, treaty or
directive, or any change therein or in the interpretation or administration thereof. 
  

 PAGE 9 

 ARTICLE III. CONDITIONS PRECEDENT FOR FUNDINGS UNDER THE REVOLVING LOAN 
  

	 	3.1	Conditions Precedent for Initial Funding 

 U.S. Bank shall not be required to make the initial Funding under the Revolving Loan unless or until the following conditions have been fulfilled to the satisfaction of U.S. Bank: 
 (a) U.S. Bank shall have received this Agreement and the Revolving Note, duly executed and delivered by the respective parties thereto. 

(b) U.S. Bank shall have received a Guaranty Agreement from Guarantors, duly executed and delivered, in the form attached hereto as
Exhibit B (the “Guaranty”). 
 (c) U.S. Bank shall have received from counsel for Borrower, an opinion addressed to
U.S. Bank and dated as of the date of this Agreement, in a form acceptable to U.S. Bank. 
 (d) No Default or Event of Default
hereunder shall exist, and after having given effect to the requested Funding, no Default or Event of Default shall exist. 
 (e) All
representations and warranties of Borrower contained herein shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date of the initial Funding. 

(f) U.S. Bank shall have received and approved all organizational documents of each Loan Party, including, without limitation: 
 (i) Copies of the certificate or articles of incorporation (as the case may be) of each Loan Party, together with all amendments thereto,
certified by Borrower to be true and complete and in the case of Borrower’s certificate of incorporation, certified by the Delaware Secretary of State; 
 (ii) A certificate of good standing or authority/existence (as the case may be) for each Loan Party from each such Person’s
jurisdiction of organization, dated within 30 days of the date of the execution of this Agreement; and 
 (iii) A
certified resolution of the directors and incumbency certificate of each Loan Party in a form approved by U.S. Bank. 
  

	 	3.2	Conditions Precedent to Each Subsequent Funding 

 The obligation of U.S. Bank to make any Funding subsequent to the initial Funding hereunder is subject to the fulfillment, to the satisfaction of U.S. Bank, of the following: 
 (a) The conditions set forth in Section 3.1 shall have been previously satisfied, and U.S. Bank shall have received evidence satisfactory to
U.S. Bank of satisfaction thereof. 
  

 PAGE 10 

 (b) U.S. Bank shall have received a Borrowing Notice for each requested Funding under the Revolving
Loan. 
 (c) There shall be executed and delivered to U.S. Bank such further instruments, agreements and documents, as may be reasonably
necessary or proper in the opinion of U.S. Bank to confirm the obligations of Borrower to U.S. Bank hereunder. 
 (d) The
representations and warranties of Borrower in Article VI shall be true on the date of each Funding with the same force and effect as if made on and as of that date. 
 (e) No Default or Event of Default shall exist, and after having given effect to the requested Funding, no Default or Event of Default shall exist. 
 ARTICLE IV. AFFIRMATIVE COVENANTS 
 Borrower hereby covenants and agrees that until the Revolving Loan
and all other obligations incurred hereunder are paid or satisfied in full and U.S. Bank’s commitment to make Funding under the Revolving Loan has terminated, Borrower shall and shall cause each Subsidiary to: 
  

	 	4.1	Financial Data 

 Keep Borrower’s consolidated
books of account in accordance with GAAP, consistently applied, and furnish to U.S. Bank: 
 (a) As soon as practicable and in any event
within 45 days after the close of each fiscal quarter of Borrower, the following unaudited consolidated financial statements of Borrower for each such quarter, all in reasonable detail and certified by Borrower to be true and correct: balance
sheet, statement of income and statement of cash flows. 
 (b) As soon as practicable and in any event within 120 days after the close
of each fiscal year of Borrower, the following consolidated financial statements of Borrower, setting forth the corresponding figures for the previous fiscal year in comparative form where appropriate, all in reasonable detail and audited (without
any qualification or exception reasonably deemed material by U.S. Bank) by Borrower’s current independent certified public accountant or such other independent certified public accountants of national standing: balance sheet, statement of
income and statement of cash flows. 
 (c) As soon as practicable and in any event within 45 days after the close of each fiscal quarter
of Borrower, certificates signed by Borrower, stating that during such period no Default or Event of Default existed or if any such Default or Event of Default existed, specifying the nature thereof, the period of existence thereof and what action
Borrower proposes to take or has taken with respect thereto; and promptly upon the occurrence of any Default or Event of Default, a certificate signed by Borrower, specifying the nature thereof, the period of existence thereof and what action
Borrower proposes to take or has taken with respect thereto. 
  

 PAGE 11 

 (d) With reasonable promptness, such other information regarding the business, operations and financial
condition of each Loan Party as U.S. Bank may from time to time reasonably request. 
  

	 	4.2	Licenses and Permits 

 Maintain all Governmental
Approvals and all related or other material agreements necessary for Borrower and each Subsidiary to operate its business, as it now exists or as it may be modified or expanded, except to the extent that the failure to maintain any such Governmental
Approval could not reasonably be expected to have a Material Adverse Effect, or the failure to maintain any such Governmental Approval is being contested in good faith by appropriate proceedings after written notice thereof has been given to
U.S. Bank. Borrower and each Subsidiary will at all times comply with all Applicable Laws relating to the operations, facilities or activities of Borrower and the Subsidiaries, except to the extent that the failure to comply could not
reasonably be expected to have a Material Adverse Effect. 
  

	 	4.3	Maintenance of Properties 

 Keep the properties of
Borrower and the Subsidiary in good repair and in good working order and condition, in a manner consistent with past practices and comparable to industry standards, except to the extent that the failure to maintain could not reasonably be expected
to have a Material Adverse Effect. 
  

	 	4.4	Payment of Charges 

 Duly pay and discharge all
material (a) taxes, assessments, levies and any other charges of Governmental Bodies imposed on or against Borrower, any Subsidiary or their property or assets, or upon any property leased by Borrower or any Subsidiary, prior to the date on
which penalties attached thereto, unless and to the extent only that such taxes, assessments, levies and any other charges of Governmental Bodies, after written notice thereof having been given to U.S. Bank, are being contested in good faith
and by appropriate proceedings; (b) claims allowed by Applicable Laws as and when due, whether for labor, materials, rentals or anything else, which could, if unpaid, become a lien or charge upon the property or assets or the outstanding
capital stock of Borrower or any Subsidiary or adversely affect the facilities or operations of Borrower or any Subsidiary (unless and to the extent only that the validity thereof is being contested in good faith and by appropriate proceedings after
written notice thereof has been given to U.S. Bank); (c) trade bills in accordance with the terms thereof or generally prevailing industry standards; and (d) other Indebtedness heretofore or hereafter incurred or assumed by Borrower
or any Subsidiary as and when due unless such Indebtedness be renewed or extended. In the event any charge is being contested by Borrower or any Subsidiary as allowed above, Borrower shall establish adequate reserves against possible liability
therefor. 
  

 PAGE 12 

	 	4.5	Insurance 

 Maintain with financially sound and
reputable insurance companies not Affiliates of Borrower, insurance with respect to the properties and business of Borrower and each Subsidiary against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar
business, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons; including workers’ compensation insurance, public liability and property and casualty insurance. 
  

	 	4.6	Inspection 

 Allow any representative of
U.S. Bank to visit and inspect any of the properties of Borrower and the Subsidiaries, to examine the books of account and other records and files of Borrower and the Subsidiaries, to make copies thereof, and to discuss the affairs, business,
finances and accounts of Borrower with its officers and accountants, all at such reasonable times during normal business hours and as often as U.S. Bank may reasonably request. 
  

	 	4.7	Hazardous Substances 

 Except to the extent caused
by the acts or omissions of U.S. Bank, Borrower agrees to indemnify U.S. Bank and hold U.S. Bank harmless from and against any and all claims, demands, damages, losses, liens, liabilities, penalties, fines, lawsuits and other
proceedings and costs and expenses (including reasonable attorneys’ fees), arising directly or indirectly from or out of or in any way connected with (i) any activities on the property of Borrower and the Subsidiaries during ownership,
possession or control of such property which directly or indirectly results in such property or any other property becoming contaminated with Hazardous Materials; (ii) the discovery of Hazardous Materials on the property of Borrower or the
Subsidiaries ; (iii) the cleanup of Hazardous Materials from the property of Borrower and the Subsidiaries; and (v) the discovery of Hazardous Materials or the cleanup of Hazardous Materials from adjacent or other property that has become
contaminated as a result of any activity on the property of Borrower or the Subsidiaries. As between Borrower and U.S. Bank, Borrower acknowledges that it will be solely responsible for all costs and expenses relating to the cleanup of
Hazardous Materials from such property or from any other properties that become contaminated with Hazardous Materials as a result of activities on or the contamination of the property of Borrower and the Subsidiaries. The covenants of Borrower set
forth in this Section 4.7 shall survive the closing and repayment of the Revolving Loan to U.S. Bank. 
  

	 	4.8	Preservation of Existence 

 (a) Preserve, renew
and maintain in full force and effect its legal existence and good standing under the Applicable Laws of the jurisdiction of its organization except in a transaction permitted by Section 5.6; (b) take all reasonable action to maintain all
rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a 

  

 PAGE 13 

 
Material Adverse Effect; and (c) preserve or renew all of its registered Intellectual Property, the non-preservation of which could reasonably be
expected to have a Material Adverse Effect. 
  

	 	4.9	Notice of Disputes and Other Matters 

 Promptly give
written notice to U.S. Bank of: 
 (a) Any citation, order to show cause or other legal process or order that could reasonably be
expected to have a Material Adverse Effect, directing Borrower or any Subsidiary to become a party to or to appear at any proceeding or hearing by or before any Governmental Body that has granted to Borrower or any Subsidiary any Governmental
Approval, and include with such notice a copy of any such citation, order to show cause, or other legal process or order; 
 (b) Any
(i) refusal, denial, threatened denial or failure by any Governmental Body to grant, issue, renew or extend any material Governmental Approval; (ii) proposed or actual revocation, termination or modification (whether favorable or adverse)
of any material Governmental Approval by any Governmental Body; (iii) dispute or other action with regard to any material Governmental Approval by any Governmental Body; (iv) notice from any Governmental Body of the imposition of any
material fines or penalties or forfeitures; or (v) threats or notice with respect to any of the foregoing or with respect to any proceeding or hearing that might result in any of the foregoing; 
 (c) Any actions, proceedings or claims of which Borrower may have notice that may be commenced or asserted against Borrower or any Subsidiary, that if
adversely determined, have a Material Adverse Effect. 
  

	 	4.10 	Exchange of Note 

 Upon receipt of a written notice
of loss, theft, destruction or mutilation of the Revolving Note, and upon surrendering the Revolving Note for cancellation if mutilated, execute and deliver a new note of like tenor in lieu of such lost, stolen, destroyed or mutilated Revolving
Note. Any note issued pursuant to this Section 4.10 shall be dated so that neither gain nor loss of interest shall result therefrom. U.S. Bank shall indemnify Borrower from all claims and damages resulting from U.S. Bank’s loss
of the Revolving Note. 
  

	 	4.11 	Additional Guarantors 

 Promptly notify
U.S. Bank after any Person that is a Domestic Subsidiary becomes a Material Subsidiary, and promptly thereafter (and in any event within 30 days), cause each such Material Subsidiary to (a) become a Guarantor by executing and
delivering to U.S. Bank a supplement the Guaranty in the form attached to the Guaranty and (b) deliver to U.S. Bank documents of the types referred to in Section 3.1(f), all in form, content and scope reasonably satisfactory to
U.S. Bank. 
  

 PAGE 14 

	 	4.12 	Further Assurances 

 Within ten days of request by
U.S. Bank, duly execute and deliver or cause to be duly executed and delivered to U.S. Bank such further instruments, agreements and documents and do or cause to be done such further acts as may be necessary or proper in the reasonable
opinion of U.S. Bank to carry out more effectively the provisions and purpose of this Agreement and the other Loan Documents. 
 ARTICLE V. NEGATIVE
COVENANTS 
 Borrower hereby covenants and agrees that until the Revolving Loan and all other obligations incurred hereunder are paid or
satisfied in full and U.S. Bank’s commitment to make Funding under the Revolving Loan has terminated, Borrower shall not, nor shall it permit any Subsidiary to: 
  

	 	5.1	Dividends and Distributions 

 During the existence
of any Event of Default, declare or pay any cash distributions or dividends or return any capital to any of Borrower’s shareholders by virtue of their status as shareholders; authorize or make any distribution, payment or delivery of property
or cash to any of Borrower’s shareholders by virtue of their status as shareholders; redeem, retire, purchase or otherwise acquire, directly or indirectly, for consideration, any shares or other interests of Borrower now or hereafter
outstanding; or set aside any funds for any of the foregoing purposes. 
  

	 	5.2	Transactions With Affiliates 

 Enter into any
transaction of any kind with any Affiliate of Borrower, whether or not in the ordinary course of business, other than on terms and conditions reasonably fair in all material respects in the good faith judgment of Borrower, provided that (a) the
foregoing restriction shall not apply to transactions between or among Borrower and any Guarantor or between and among any Guarantors and (b) Borrower may make investments consisting of advances and capital contributions to Subsidiaries.

  

	 	5.3	Liens 

 Create, incur, assume or suffer to exist,
any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 
 (a) Liens
existing on the date hereof and listed on Schedule 5.3 and any renewals or extensions thereof, provided that the property covered thereby is not increased; 
 (b) Liens for taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable
Person in accordance with GAAP; 
  

 PAGE 15 

 (c) Carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person; 
 (d) Pledges or deposits in the ordinary course of business in connection
with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (e)
Deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business;

 (f) Easements, rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not
substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 
 (g) Liens securing judgments for the payment of money in an aggregate amount not in excess of the $10,000,000 (except to the extent covered by
independent third-party insurance as to which the insurer does not dispute coverage), unless any such judgment remains undischarged for a period of more than 30 consecutive days during which execution is not effectively stayed; and 

(h) Other Liens securing Indebtedness in an aggregate principal amount not to exceed $5,000,000 at any time outstanding. 
  

	 	5.4	Advances and Loans 

 Lend money, make credit
available or lend property or the use thereof to any Person; guarantee, assume, endorse or otherwise become responsible for (directly or indirectly or by any instrument having the effect of assuring any Person’s payment, performance, or
capability) the Indebtedness, performance, obligations, stock or dividends of any Person; or agree to do any of the foregoing, except: 
 (a)
Advances to officers, directors and employees of Borrower and Subsidiaries in an aggregate amount not to exceed $5,000,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 
 (b) Advances to photographers, film makers and visual search technology companies engaged by Borrower or any Subsidiary in an aggregate amount not to
exceed $7,500,000 at any time outstanding, for costs and expenses extended in the ordinary course of business; 
  

 PAGE 16 

 (c) Loans by Borrower (i) to any Guarantor or (ii) to any Subsidiary in the ordinary course of
Borrower’s business on terms and conditions reasonably fair in all material respects in the good faith judgment of Borrower; and 
 (d)
Loans consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the sale or lease of goods or services in the ordinary course of business. 
  

	 	5.5	Investments 

 Invest in (by capital contribution or
otherwise), acquire, purchase or make any commitment to purchase the obligations, stock or equity of any Person except (a) Cash Equivalents, (b) investments in and to acquire Subsidiaries and (c) other investments in an amount not to
exceed $20,000,000 in any fiscal year of Borrower. 
  

	 	5.6	Consolidation, Merger and Sale of Assets 

 Merge,
dissolve, liquidate, consolidate with or into another Person, or dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person,
except that, so long as no Default or Event of Default exists or would result therefrom: 
 (a) Any Subsidiary may merge with
(i) Borrower, provided that Borrower shall be the continuing or surviving Person or (ii) any one or more other Subsidiaries, provided that when any Guarantor or wholly-owned Subsidiary is merging with another Subsidiary, such Guarantor or
wholly-owned Subsidiary shall be the continuing or surviving Person; 
 (b) Any Subsidiary may dissolve or liquidate; provided that the board
of directors or senior management of Borrower has determined in good faith that the dissolution or liquidation will not be detrimental to the business of Borrower and its Subsidiaries taken as a whole; 
 (c) Any Subsidiary may dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise), to Borrower or to another Subsidiary;
provided that if the transferor in such a transaction is a Guarantor, then the transferee must either be Borrower or another Guarantor. 
  

	 	5.7	Pension Plan 

 Terminate or partially terminate any
Plan now existing or hereafter established for Borrower or its Affiliates or withdraw from participation therein under circumstances that result or could result in liability to the Pension Benefit Guaranty Corporation, to the fund by which the Plan
is funded, or to the employees (or their beneficiaries) for whom the Plan is or shall be maintained; or permit any other event or circumstance to occur that results or could result in material liability to the Pension Benefit Guaranty Corporation or
a material violation of ERISA. 
  

 PAGE 17 

 ARTICLE VI. REPRESENTATIONS AND WARRANTIES 
 In order to induce U.S. Bank to enter into this Agreement and to make Fundings under the Revolving Loan as herein provided, Borrower hereby makes the
following representations, covenants and warranties, all of which shall survive the execution and delivery of this Agreement and shall not be affected or waived by any inspection or examination made by or on behalf of U.S. Bank: 
  

	 	6.1	Existence, Qualification and Power; Compliance with Laws 

 Each Loan Party (a) is a corporation or limited liability company duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, (b) has all requisite power
and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own its assets and carry on its business and (ii) execute, deliver, and perform its obligations under the Loan Documents to which it is a
party, (c) is duly qualified and is licensed and in good standing under the laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license, and (d) is
in compliance with all Applicable Laws, except in each case referred to in clause (b)(i), (c) or (d), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
  

	 	6.2	Authorization; No Contravention 

 The execution,
delivery and performance by each Loan Party of each Loan Document to which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of
such Person’s organization documents; (b) conflict with or result in any breach or contravention of, or the creation of any lien under, (i) any contractual obligation to which such Person is a party or (ii) any order, injunction,
writ or decree of any Governmental Body or any arbitral award to which such Person or its property is subject; or (c) violate any Applicable Law. 
  

	 	6.3	Governmental Authorization; Other Consents 

 No
approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Body or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against,
any Loan Party of this Agreement or any other Loan Document. 
  

	 	6.4	Binding Effect 

 This Agreement has been, and each
other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and
binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms. 
  

 PAGE 18 

	 	6.5	Financial Statements; No Material Adverse Effect 

 (a) The audited financial statements of Borrower dated as of December 31, 2005 (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein;
(ii) fairly present the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of Borrower and its consolidated Subsidiaries as of the date thereof, including liabilities for taxes,
material commitments and Indebtedness. 
 (b) Since the date of the audited financial statements described in Section 6.5(a), there has
been no event or circumstance that has had or could reasonably be expected to have a Material Adverse Effect. 
  

	 	6.6	Litigation 

 Except as specifically disclosed in
Schedule 6.6, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of any officer of a level at or above vice president of Borrower after due and diligent investigation, threatened or contemplated, at law,
in equity, in arbitration or before any Governmental Body, by or against Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or
any of the transactions contemplated hereby or (b) could reasonably be expected to have a Material Adverse Effect. 
  

	 	6.7	No Default 

 Neither Borrower nor any Subsidiary is
in default under or with respect to any contractual obligation that could be reasonably expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing or would result from the consummation of the
transactions contemplated by this Agreement or any other Loan Document. 
  

	 	6.8	Ownership of Property; Liens 

 Each of Borrower and
its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. As of the Closing Date, the property of Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 5.3. 
  

 PAGE 19 

	 	6.9	Environmental Compliance 

 Except as specifically
disclosed in Schedule 6.9, property of Borrower and its Subsidiaries (both owned and leased) and each portion thereof (a) are not and to the best knowledge of Borrower have not been a site for the use, generation, manufacture, storage,
disposal or transportation of any Hazardous Material; (b) are presently in compliance with all Hazardous Materials Laws; and (c) are not being used and to the best knowledge of Borrower have not been used in any manner that has resulted in
or will result in Hazardous Materials being spilled, disposed of or otherwise released on any adjacent or other property. 
  

	 	6.10 	Insurance 

 The properties of Borrower and its
Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and
owning similar properties in localities where Borrower or the applicable Subsidiary operate. 
  

	 	6.11 	Taxes 

 Borrower and its Subsidiaries have filed all
Federal, state and other material tax returns and reports required to be filed (or, with respect to taxes payable to any Governmental Body located outside of the United States, to the extent any tax returns have not been timely filed, Borrower and
its Subsidiaries have paid estimated taxes in an amount equal to Borrower’s or such Subsidiary’s good faith estimate of the taxes due), and have paid all Federal, state and other material taxes, assessments, fees and other governmental
charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except (a) those that are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have
been provided in accordance with GAAP and (b) those which individually or in the aggregate do exceed $1,000,000 at any time. There is no proposed tax assessment against Borrower or any Subsidiary that would, if made, have a Material Adverse
Effect. 
  

	 	6.12 	Pension Plans 

 No “reportable event” as
defined in Section 4043(b) of Title IV of ERISA has occurred and is continuing with respect to any plan maintained for employees of Borrower or any Affiliate (except to the extent that a reportable event would result in liabilities to
Borrower and the Subsidiaries not to exceed $                 in aggregate). In addition, each of the plans maintained for the employees of Borrower and its Affiliates
are in compliance with the requirements of ERISA, including the minimum funding requirements. 
  

	 	6.13 	Subsidiaries 

 Borrower has no Subsidiaries other
than those specifically disclosed in Part (a) of Schedule 6.13, has no equity investments in any other corporation or entity other than those 

  

 PAGE 20 

 
specifically disclosed in Part (b) of Schedule 6.13 and has no Material Subsidiaries other than those specifically disclosed in Part (c) of
Schedule 6.13. 
  

	 	6.14 	Margin Regulations; Investment Company Act; Public Utility Holding Company Act 

 (a) Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or
extending credit for the purpose of purchasing or carrying margin stock. 
 (b) None of Borrower, any Person controlling Borrower, or any
Subsidiary (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding
company,” within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
  

	 	6.15 	Intellectual Property; Etc 

 Borrower and its
Subsidiaries own, or possess the right to use, all Intellectual Property that is reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person. None of the Loan Parties is in default (or
with the giving of notice or lapse of time or both, would be in default) under any license to use such Intellectual Property; no claim has been asserted and is pending by any Person challenging or questioning the use of any such Intellectual
Property or the validity or effectiveness of any such Intellectual Property, nor does Borrower or any of its Subsidiaries know of any such claim; and, to the knowledge of Borrower or any of its Subsidiaries, the use of such Intellectual Property by
Borrower or any of its Subsidiaries does not infringe on the rights of any Person. 
  

	 	6.16 	Solvency 

 Borrower and each other Loan Party is
Solvent and each shall be Solvent immediately after the consummation of the transactions contemplated by this Agreement. 
  

	 	6.17 	Disclosure 

 No statement, information, report,
certification, representation, or warranty made by any Loan Party in any Loan Document or furnished to the U.S. Bank by or on behalf of any Loan Party in connection with any Loan Document (including in any and all disclosure materials furnished
by or on behalf of any Loan Party) contains any untrue statement of a material fact or omits any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading in any material respect. U.S. Bank acknowledges that as of the date of this Agreement, the only nonpublic information that Borrower has provided to U.S. Bank is an organizational chart. 
  

 PAGE 21 

 ARTICLE VII. EVENTS OF DEFAULT; REMEDIES 
  

	 	7.1	Events of Default 

 “Event of Default,”
wherever used herein, means any one of the following events (whatever the reason for the Event of Default, whether it shall relate to one or more of the parties hereto, and whether it shall be voluntary or involuntary or be pursuant to or affected
by operation of Applicable Law): 
 (a) If Borrower fails to pay (i) the principal of the Revolving Loan, when and as the same becomes
due and payable (whether at scheduled maturity, by acceleration or otherwise) or (ii) interest on the Revolving Loan or any other amount payable by Borrower to U.S. Bank under this Agreement, within five days of the due date (whether at
scheduled maturity, by acceleration or otherwise); or 
 (b) If any Indebtedness in excess of $10,000,000 of Borrower or any Subsidiary for
money borrowed or credit extended becomes or is declared due and payable (after any applicable grace period) prior to the stated maturity thereof or is not paid as and when it becomes due and payable, or if any event occurs which constitutes an
event of default under any instrument, agreement or evidence of Indebtedness relating to any such obligation; or 
 (c) If any representation
or warranty (i) made by Borrower in this Agreement or (ii) made by any Loan Party in any document, certificate or statement furnished pursuant to this Agreement or in connection herewith, is false or misleading in any material respect when
made or deemed made; or 
 (d) If Borrower fails to observe or perform any term, covenant or agreement to be performed or observed pursuant
to Article V; or 
 (e) If any Loan Party fails to observe or perform (not otherwise specified in this Section 7.1) any term,
covenant or agreement to be performed or observed pursuant to the provisions of this Agreement, the other Loan Documents or any other agreement incidental hereto and such default is not cured within 30 days; or 
 (f) If the validity of any of Loan Documents has been disaffirmed by any Loan Party; or 
 (g) If custody or control of any substantial part of the property of Borrower or any Subsidiary is assumed by any Governmental Body or if any
Governmental Body takes any final action, the effect of which would be to have a Material Adverse Effect; or 
 (h) If any Loan Party
suspends or discontinues its business, or if any Loan Party makes an assignment for the benefit of creditors or a composition with creditors, is unable or admits in writing its inability to pay its debts as they mature, files a petition in
bankruptcy, becomes insolvent (howsoever such insolvency may be evidenced), is adjudicated insolvent or bankrupt, petitions or applies to any tribunal for the appointment of any receiver, liquidator 

  

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or trustee of or for it or any substantial part of its property or assets, commences any proceeding relating to it under any Applicable Law of any
jurisdiction whether now or hereafter in effect relating to bankruptcy, reorganization, arrangement, readjustment of debt, receivership, dissolution or liquidation; or if there is commenced against any Loan Party any such proceeding that remains
undismissed for a period of 60 days or more, or an order, judgment or decree approving the petition in any such proceeding is entered; or if any Loan Party by any act or failure to act indicates its consent to, approval of, or acquiescence in,
any such proceeding or any appointment of any receiver, liquidator or trustee of or for it or for any substantial part of its property or assets, suffers any such appointment to continue undischarged or unstayed for a period of 60 days or more,
or takes any corporate action for the purpose of effecting any of the foregoing; or if any court of competent jurisdiction assumes jurisdiction with respect to any such proceeding, or if a receiver or a trustee or other officer or representative of
a court or of creditors, or if any Governmental Body, under color of legal authority, takes and holds possession of any substantial part of the property or assets of any Loan Party; or 
 (i) There is entered against any Loan Party (i) a final judgment or order for the payment of money in an aggregate amount exceeding the $10,000,000
(to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), or (ii) any non-monetary final judgment that has, or could reasonably be expected to have, a Material Adverse Effect and, in
either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 20 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or
otherwise, is not in effect, or (C) any final judgment is not paid or otherwise satisfied within a period of 20 days (or such other time that it is due) from the date of judgment; or 
 (k) If there occurs a Material Adverse Effect. 
  

	 	7.2	Acceleration; Remedies 

 (a) If any Event of Default
described in Section 7.1(h) shall occur, then immediately and automatically U.S. Bank’s commitment under the Revolving Loan shall terminate and amounts owing under this Agreement and the Revolving Note shall become due and payable and
U.S. Bank’s obligation to make any advances under the Revolving Loan shall immediately terminate. 
 (b) If any Event of Default
other than those described in Section 7.1(h) shall occur and be continuing, U.S. Bank may (i) by written notice to Borrower, declare U.S. Bank’s commitment under the Revolving Loan terminated forthwith, whereupon such
obligations shall immediately terminate; and (ii) by written notice of default to Borrower, declare the Revolving Loan, with accrued interest thereon, and all other amounts owing under this Agreement and the Revolving Note to be due and payable
forthwith, whereupon the same shall immediately become due and payable. 
  

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 (c) Except as expressly provided above in this Section 7.2, presentment, demand and all other
notices of any kind are hereby expressly waived. U.S. Bank may proceed to protect and enforce its rights hereunder or realize on any or all security granted pursuant to any the Loan Documents in any manner or order it deems expedient without
regard to any equitable principles of marshaling or otherwise. No failure or delay on the part of U.S. Bank in exercising any right, power or privilege hereunder and no course of dealing between Borrower and U.S. Bank shall operate as a
waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any right, power or privilege. The rights and remedies herein expressly provided
are cumulative and not exclusive of any rights or remedies that U.S. Bank would otherwise have. No notice to or demand on Borrower in any case shall entitle Borrower to any other or further notice or demand in similar or other circumstances or
shall constitute a waiver of the right of U.S. Bank to any other or further action in any circumstances without notice or demand. 
 ARTICLE VIII.
MISCELLANEOUS 
  

	 	8.1	Notices 

 All notices, requests, consents, demands,
approvals and other communications hereunder shall be deemed to have been duly given, made or served if made in writing and delivered personally, sent via facsimile or mailed by first-class mail, postage prepaid, to the respective parties to this
Agreement as follows: 
  

	 	(a)	If to Borrower: 

 Getty Images, Inc. 
 601 North 34th Street

 Seattle, Washington 98103 
 Attention: Legal Counsel 
 Facsimile No.: (206) 925-5623 
  

	 	(b)	If to U.S. Bank: 

 U.S. Bank National Association

 PD-WA-T11S 
 1420 Fifth Avenue

 Seattle, Washington 98101 
 Attention: Fredrick Sexton 
 Facsimile No.: (206) 344-2332 
 The designation of the persons to be so notified or the address of such persons for the purposes of such notice may be changed from time to time by similar notice in writing, except that any communication with respect
to a change of address shall be deemed to be given or made when received by the party to whom such communication was sent. 
  

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	 	8.2	Payment of Expenses 

 (a) Whether or not the
transactions hereby contemplated are consummated, Borrower shall pay on demand all costs and expenses of U.S. Bank incurred in connection with the preparation, negotiation, execution and delivery of the Loan Documents, as well as any
amendments, modifications, consents or waivers relating thereto, including, without limitation, reasonable attorneys’ fees, appraisal fees, title insurance fees and recording fees. In addition, if there shall occur any Default or Event of
Default, U.S. Bank shall be entitled to recover any costs and expenses incurred in connection with the preservation of rights under, and enforcement of, the Loan Documents, whether or not any lawsuit or arbitration proceeding is commenced, in
all such cases, including, without limitation, reasonable attorneys’ fees and costs. Reasonable attorneys’ fees shall include, without limitation, attorneys’ fees and costs incurred in connection with any bankruptcy case or other
insolvency proceeding commenced by or against any Loan Party, including all fees incurred in connection with (a) moving from relief from the automatic stay, to convert or dismiss the case or proceeding, or to appoint a trustee or examiner, or
(b) proposing or opposing confirmation of a plan of reorganization or liquidation, in any case without regard to the identity of the prevailing party. 
 (b) Borrower hereby agrees to indemnify U.S. Bank, its affiliates, and each of their directors, officers and employees against all losses, claims, damages, penalties, judgments, liabilities and expenses
(including, without limitation, all expenses of litigation or preparation therefor whether or not U.S. Bank or any affiliate is a party thereto) which any of them may pay or incur arising out of or relating to this Agreement, the other Loan
Documents, the transactions contemplated hereby or the direct or indirect application or proposed application of the proceeds of any credit facility hereunder, except to the extent that they are determined in a final non-appealable judgment by a
court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the party seeking indemnification. The obligations of Borrower under this Section 8.2(b) shall survive the termination of this Agreement.

  

	 	8.3	Setoff 

 Borrower hereby grants to U.S. Bank,
and any Participant, an express contractual right to set off against all depository account balances, cash and any other property of Borrower now or hereafter in the possession of U.S. Bank, or any Participant, and the right to refuse to allow
withdrawals from any account (collectively “Setoff”) against the obligations described in this Agreement and the other Loan Documents and any other obligations of Borrower to U.S. Bank of any nature whatsoever (collectively the
“Obligations”). U.S. Bank and any Participant may, at any time upon the occurrence of an Event of Default, Setoff against the Obligations whether or not the Obligations (including future installments) are then due or have been
accelerated, all without any advance or contemporaneous notice or demand of any kind to Borrower, such notice and demand being expressly waived. 
  

 PAGE 25 

	 	8.4	Waiver of Setoff 

 In the event that U.S. Bank
sells all or any portion of the Revolving Loan to any Participant, Borrower hereby waives the right to interpose any setoff, counterclaim or cross-claim (other than compulsory counterclaims or cross-claims) in connection with any litigation or
dispute under this Agreement, regardless of the nature of such setoff, counterclaim or cross-claim. 
  

	 	8.5	Fees and Commissions 

 Borrower agrees to indemnify
U.S. Bank and hold it harmless with regard to any commissions, fees, judgments or expenses of any nature and kind that U.S. Bank may become liable to pay by reason of any claims by or on behalf of brokers, finders or agents in connection
with any act or failure to act by Borrower or any litigation or similar proceeding arising from such claims. Borrower states that it is aware of no valid basis for any such claims. 
  

	 	8.6	No Waiver 

 No failure or delay on the part of
U.S. Bank or the holder of the Revolving Note in exercising any right, power or privilege hereunder and no course of dealing between Borrower and U.S. Bank or the holder of the Revolving Note shall operate as a waiver thereof; nor shall
any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any right, power or privilege. The rights and remedies herein expressly provided are cumulative and not
exclusive of any rights or remedies that U.S. Bank or any subsequent holder of the Revolving Note would otherwise have. No notice to or demand on Borrower in any case shall entitle Borrower to any other or further notice or demand in similar or
other circumstances or shall constitute a waiver of the right of U.S. Bank to any other or further action in any circumstances without notice or demand. 
  

	 	8.7	Entire Agreement and Amendments 

 This Agreement and
the other Loan Documents represent the entire agreement between the parties hereto with respect to the Revolving Loan and the transactions contemplated hereunder and, except as expressly provided herein, shall not be affected by reference to any
other documents. This Agreement, or any provision hereof, may not be changed, waived, discharged or terminated orally, but only by an instrument in writing, signed by the party against whom enforcement of the change, waiver, discharge or termination
is sought. 
  

	 	8.8	Benefit of Agreement 

 This Agreement is binding
upon and inures to the benefit of Borrower and U.S. Bank and their successors and assigns and all subsequent holders of the Revolving Note or any portion thereof. Borrower expressly acknowledges that U.S. Bank is not prohibited or 

  

 PAGE 26 

 
restricted from assigning rights or participations hereunder or any portion thereof to another Person. Borrower, however, is precluded from assigning any of
its respective rights or delegating any of its obligations hereunder or under any of the other agreements between Borrower and U.S. Bank without the prior written consent of U.S. Bank. 
  

	 	8.9	Severability 

 If any provision of this Agreement or
any of the Loan Documents is held invalid under any Applicable Laws, such invalidity shall not affect any other provision of this Agreement that can be given an effect without the invalid provision, and, to this end, the provisions hereof are
severable. 
  

	 	8.10 	Descriptive Headings 

 The descriptive headings of
the several sections of this Agreement are inserted for convenience only and do not affect the meaning or construction of any of the provisions hereof. 
  

	 	8.11 	Governing Law 

 Except to the extent that the
federal laws of the United States of America provide U.S. Bank with greater rights or remedies, this Agreement and the rights and obligations of the parties hereunder and under the other Loan Documents shall be construed in accordance with and
shall be governed by the laws of the state of Washington without regard to the choice of law rules thereof. 
  

	 	8.12 	Consent to Jurisdiction, Service and Venue 

 For the
purpose of enforcing payment of the Revolving Note, performance of the obligations under the Revolving Note, any arbitration award under the other Loan Documents, or otherwise in connection herewith, Borrower hereby consents to the jurisdiction and
venue of the courts of the state of Washington or of any federal court located in such state including, but not limited to, the Superior Court of Washington for King County and the United States District Court for the Western District of Washington.
Borrower hereby waives the right to contest the jurisdiction and venue of courts located in King County, Washington, on the ground of inconvenience or otherwise and waives any right to bring any action or proceeding against U.S. Bank in any
court outside King County, Washington. The provisions of this Section 8.12 do not limit or otherwise affect the right of U.S. Bank to institute and conduct action in any other appropriate manner, jurisdiction, or court. 
  

	 	8.13 	Counterparts 

 This Agreement and each of the Loan
Documents may be executed in one or more counterparts, each of which shall constitute an original agreement, but all of which together shall constitute one and the same instrument. 
  

 PAGE 27 

	 	8.14 	Patriot Act 

 U.S. Bank hereby notifies each
Loan Party that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies any Loan Party,
which information includes the names and addresses of any Loan Party and other information that will allow U.S. Bank to identify the Loan Parties in accordance with the Act. 
  

	 	8.15 	Jury Waiver 

 BORROWER HEREBY WAIVES ANY RIGHT TO
TRIAL BY JURY OF ANY CLAIM ARISING OUT OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, WHETHER NOW OR HEREAFTER ARISING AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND HEREBY CONSENTS AND AGREES THAT ANY SUCH CLAIM MAY, AT
U.S. BANK’S ELECTION, BE DECIDED BY TRIAL WITHOUT A JURY AND THAT U.S. BANK MAY FILE AN ORIGINAL COUNTERPART OR COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE WAIVER AND AGREEMENT CONTAINED HEREIN. 
  

	 	8.16 	Statutory Notice 

 ORAL AGREEMENTS OR ORAL
COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. 
 [The remainder of this page has been intentionally left blank.] 
  

 PAGE 28 

 IN WITNESS WHEREOF, Borrower and U.S. Bank have caused this Agreement to be duly executed by the
respective, duly authorized signatories as of the date first above written. 
  

					
	GETTY IMAGES, INC.
		
	By	 	/s/ ELIZABETH J. HUEBNER
		 	Name:	 	Elizabeth J. Huebner
		 	Title:	 	Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By	 	/s/ RICK W. SEXTON
		 	Name:	 	Rick W. Sexton
		 	Title:	 	Senior Vice President

  

 PAGE 29

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