Document:

Offer Letter dated as of July 10, 2007

 Exhibit 10.33 
 

 
 July 10, 2007 
 Mr. Marc
Schuback 
 One Valley Lane 
 Armonk, NY 10504 
 Dear Marc: 
 On behalf dELiA*s, Inc., (the “Company”), I am very
pleased to provide you with the terms and conditions of your employment. The following sets forth the proposed terms and conditions of the Company’s offer to employ you. Everyone you have met with feels that you are a great fit for this company
and will thrive here. We hope that you choose to join the Company and look forward to a mutually beneficial relationship. 
 1. Position: Your initial position will be as VP, General Counsel and Secretary, working out of the Company’s office located at 50 West 23rd Street, New York, NY, 10010. As the Company’s employee, we expect you to devote your full time and energies to the business and affairs of the Company, and to perform any and all duties and responsibilities
associated with this position and as may be reasonably assigned to you from time to time by the Company. Your performance will be reviewed on a periodic basis as long as you remain employed by the Company. 
 2. Starting Date/Nature of Relationship: If you accept this offer, your employment with the Company shall commence no later than August 15, 2007. Except as
expressly set forth herein, this letter does not create an employment contract or other agreement and is not a promise of employment for a specific period of time. You understand that your employment is at-will and either party may terminate the
relationship with or without cause at any time. 
 3. Compensation and Benefits: Your initial base pay shall be $275,000 per annum, ($10,576.92 on a
bi-weekly basis). Additionally, you will be included in the fiscal 2007 Management Incentive Plan (MIP). You will have a total target bonus of not less than 30% of your base salary. For fiscal 2007, you will be considered a full year participant in
the MIP bonus; therefore, any payout under the plan will be based on a full year’s salary, not prorated. This bonus will be based on the company meeting or exceeding planned EBIT and individual performance and will have no cap. Under current
company policy, salaries are reviewed annually at the start of each fiscal year. You will be included in the annual review process the company conducts after the close of our fiscal year. In conjunction with that review in February, 2008 your base
salary will increase to not less than $285,000. 

 

 
 In addition, you will receive options to purchase 15,000 shares of Common Stock of dELiA*s, Inc., par value
$0.01 per share, pursuant to one of dELiA*s stock plans. Such options shall be exercisable at a purchase price per share equal to the closing price of dELiA*s Common Stock on the NASDAQ market on the business day prior to the date of your
commencement of employment with the Company. The options shall have the following vesting schedule: 3,750 shares shall vest one year after your first day of employment, 3,750 shares shall vest two years after your first day of employment, 3,750
shares shall vest three years after your first day of employment, and the remaining 3,750 shares shall vest four years after your first day of employment. These options shall expire ten years from the date of grant. 
 In addition to your compensation, you will be entitled to receive the various benefits (Ex. Comprehensive Health Benefits, Employee Discounts, 401k with
Company Match, etc.) offered by the Company to its employees. Benefits offered may be modified or changed from time to time at the discretion of the Company. Where a particular benefit is subject to a formal plan, eligibility to participate in and
receive any particular benefit of the plan is governed solely by the applicable plan document, prorated based on date of hire. You would currently be eligible for 3 weeks paid vacation as well as holidays (10), sick days (5) and personal days
(3) in accordance with company policy. Should you ever have any questions, you should ask David Diamond, VP of Human Resources, for a copy of the applicable plan document. 
 4. Assignment: The Company reserves the right at any time to assign this offer letter to any parent, subsidiary or affiliate of the Company now in existence or formed hereafter. 
 5. Severance: If the Company terminates you for any reason other than “cause”, you shall be entitled to a severance payment of 6 months of base salary,
medical and dental benefits, payable in bi-weekly installments commencing with the bi-weekly pay period immediately after such termination. “Cause” is defined as the commitment of fraud, material breach of Section 1 of this offer
letter, conviction of a felony, unauthorized disclosure of confidential information and conduct that constitutes gross neglect or gross misconduct in carrying out your duties under Section 1 of this offer letter. Furthermore, in the event that
(a) all or substantially all of the assets of the Company are sold, and the new Company terminates you within 12 months of the acquisition or (b) there is a sale or transfer of a majority of the outstanding Common Stock of the Company and
you are terminated within 12 months of such sale or transfer, you shall in either case be entitled to a severance payment of 6 months of base salary, medical and dental benefits, payable in bi-weekly installments commencing with the bi-weekly pay
period immediately after such termination. 

 

 
 6. Miscellaneous: This letter constitutes our entire offer regarding the terms and conditions of your employment by the
Company. It supersedes any prior agreements, or other promises or statements (whether oral or written) regarding the offered terms of employment. The terms of your employment shall be governed by the law of the State of New York, without giving
effect to its principles of conflicts of laws. By accepting this offer of employment, you expressly agree that any action, demand, claim or counterclaim concerning any aspect of your employment relationship with the Company shall be resolved by a
judge alone, and you waive and forever renounce your right to a trial before a civil jury. 
 You may accept this offer of employment and the
terms and conditions hereof by signing the enclosed additional copy of this letter which execution will evidence your agreement with the terms and conditions set forth herein and therein. 
 I am delighted to offer you the opportunity to join our Company and we look forward to you joining us! 
  

			
	By:	 	 /s/ David Diamond

		 	David Diamond, Vice President - Human Resources
	
	Accepted and Agreed:
		
	By:	 	 /s/ Marc G. Schuback

		 	Marc G. Schuback
		
	Date:	 	7/16/07Amendment No. 4 to Second Amended and Restated Receivables Purchase Agreement

 Exhibit 10.1 
 AMENDMENT NO. 4 TO SECOND AMENDED AND RESTATED RECEIVABLES 
 PURCHASE AGREEMENT 
 THIS AMENDMENT (this “Amendment”) is entered into as of December 7, 2007 by and among: 
 (a) Yellow Roadway Receivables Funding Corporation, a Delaware corporation (the “Seller”), 
 (b) JPMorgan Chase Bank, N.A., SunTrust Bank, Wachovia Bank, National Association, and ABN AMRO Bank, N.V. (each of the foregoing a
“Committed Purchaser”), 
 (c) Falcon Asset Securitization Company LLC (f/k/a Falcon Asset
Securitization Corporation), Three Pillars Funding LLC, Variable Funding Capital Company LLC (as assignee of Blue Ridge Asset Funding Corporation), and Amsterdam Funding Corporation (each of the foregoing, a “Conduit”),

 (d) YRC Assurance Co. Ltd., an exempted company incorporated with limited liability under the laws of Bermuda formerly
known as USF Assurance Co. Ltd., individually and as agent for itself (in such latter capacity, a “Co-Agent”), 
 (e) Wachovia Bank, National Association, as letter of credit issuer (the “LC Issuer”); 
 (f) SunTrust Robinson Humphrey, Inc. (f/k/a SunTrust Capital Markets, Inc.), Wachovia Bank, National Association, ABN AMRO Bank, N.A., and JPMorgan Chase Bank, N.A., as “Co-Agents,” and

 (g) JPMorgan Chase Bank, N.A., as administrative agent for the Groups (together with its successors in such capacity, the
“Administrative Agent” and together with the Co-Agents, the “Agents”), 
 with respect to that certain Second
Amended and Restated Receivables Purchase Agreement, dated as of May 24, 2005, among the parties hereto (as heretofore amended, the “Existing RPA”). 
 FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 1. Defined Terms. Capitalized terms used herein and not otherwise defined shall have their meanings as attributed to such terms in
the Existing RPA. 

 2. Amendments. 
 2.1 Sections 7.1(h) and 7.1(i) of the Existing RPA are hereby amended and restated in their entirety to read, respectively, as follows: 
 (h) A “Default” or an “Event of Default” under and as defined in the YRCW Credit Agreement, shall occur and be
continuing; provided, however, that any Servicer Default arising under this Section 7.1(h) shall be deemed automatically waived if and to the extent that any “Default” or “Event of Default” under the
YRCW Credit Agreement is waived in accordance with the terms thereof. 
 (i) Any Trigger Event shall occur. 
 2.2 The definitions of “Level I Trigger Event,” “Level II Trigger Event” and “Yellow Roadway Credit
Agreement” in Exhibit I to the Existing RPA are hereby deleted in their entirety. 
 2.3 Each of the following new definitions
is hereby inserted in Exhibit I to the Existing RPA in its appropriate alphabetical order: 
 “Trigger
Event” means the failure of YRC Worldwide Inc. to maintain, as of the end of any Test Period (as defined in the YRCW Credit Agreement), (a) a Total Leverage Ratio (as defined in the YRCW Credit Agreement) that is less than or equal
to 3.50:1 or (b) a Consolidated Interest Coverage Ratio (as defined in the YRCW Credit Agreement) that is greater than or equal to 2.00:1. 
 “YRCW Credit Agreement” means that certain Credit Agreement dated as of August 17, 2007 among YRC Worldwide Inc., certain of its Canadian and United Kingdom Affiliates, the lenders party
thereto, JPMorgan Chase Bank, National Association, Toronto Branch, as Canadian Agent, J.P. Morgan Europe Limited, as UK Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent thereunder, as amended, modified or replaced from time to time.

 2.4. Each of the following definitions in Exhibit I to the Existing RPA is hereby amended and restated in its entirety to read,
respectively, as follows: 
 “Applicable Margin” means the applicable rate per annum set forth under
the caption “Eurocurrency Spread for Eurocurrency Revolving Loans” plus that set forth under the caption “Utilization Increase” in the definition of “Applicable Rate” (as defined in the YRCW Credit Agreement).

 “Concentration Limit” means: 
 (a) for any Obligor and its Affiliates considered as if they were one and the same Obligor, an amount equal to (i) 3.00%, multiplied
by (ii) the aggregate Outstanding Balance of all Eligible Receivables at such time; and 
 (b) at any time, for all
Government Receivables, 5% of the aggregate Outstanding Balance of all Eligible Receivables at such time; 
 provided, however,
that the Administrative Agent may from time to time designate other amounts (each, a “Special Concentration Limit”) for any Obligor or class of 

  

 2 

 
Receivables, it being understood and agreed that any of the Agents may, upon not less than three Business Days’ notice to the Seller and the other
Agents, cancel any Special Concentration Limit. 
 2.5 Clause (ii) of the definition of “Eligible Receivable” in
Exhibit I to the Existing RPA is hereby amended and restated in its entirety to read as follows: 
 (ii) a Receivable
(A) as to which no payment, or part thereof, remains unpaid for 120 days or more from the original invoice date, (B) which does not represent Deferred Revenue, and (C) is not a Defaulted Receivable, 
 3. Representations and Warranties. In order to induce the other parties to enter into this Amendment, the Seller hereby represents and warrants to
the Agents, the LC Issuer and the Purchasers that after giving effect to the amendments contained in Section 2 above, (a) no Servicer Default or Potential Servicer Default exists and is continuing as of the Effective Date (as defined in
Section 4 below), and (b) each of the Seller’s representations and warranties contained in Section 3.1 of the Existing RPA is true and correct as of the Effective Date. 
 4. Effective Date. This Amendment shall become effective as of the date first above written (the “Effective Date”) when
the Administrative Agent has received counterparts of this Amendment, duly executed by each of the parties hereto. 
 5. Ratification.
The Existing RPA, as modified hereby, is hereby ratified, approved and confirmed in all respects. 
 6. Reference to Agreement. From
and after the Effective Date hereof, each reference in the Existing RPA to “this Agreement”, “hereof”, or “hereunder” or words of like import, and all references to either of the Existing RPA in any and all agreements,
instruments, documents, notes, certificates and other writings of every kind and nature shall be deemed to mean the Existing RPA, as modified by this Amendment. 
 7. Costs and Expenses. The Seller agrees to pay all reasonable costs, fees, and out-of-pocket expenses (including reasonable attorneys’ fees and disbursements) incurred by the Agents in connection with the
preparation, execution and enforcement of this Amendment. 
 8. CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED BY THE LAW OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW). 
 9.
Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together
shall constitute one and the same agreement. 
 <signature pages follow> 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

			
	YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION
		
	By:	 	 /s/ Todd M. Hacker

	Name:	 	Todd M. Hacker
	Title:	 	President
	
	YRC ASSURANCE CO. LTD., AS AN UNCOMMITTED PURCHASER AND AS YRCA
AGENT
		
	By:	 	 /s/ Brenda Stasiulis

	Name:	 	Brenda Stasiulis
	Title:	 	Financial Officer
	
	WACHOVIA BANK, NATIONAL ASSOCIATION, AS A COMMITTED PURCHASER, AS LC ISSUER
AND AS VFCC AGENT
		
	By:	 	 /s/ Eero H. Maki

	Name:	 	Eero H. Maki
	Title:	 	Director
	
	VARIABLE FUNDING CAPITAL COMPANY LLC
		
	BY:	 	WACHOVIA CAPITAL MARKETS, LLC, ITS
ATTORNEY-IN-FACT
		
	By:	 	 /s/ Haojin Wu

	Name:	 	Haojin Wu
	Title:	 	Vice President
	
	SUNTRUST ROBINSON HUMPHREY, INC., AS THREE PILLARS AGENT
		
	By:	 	 /s/ Michael G. Maza

	Name:	 	Michael G. Maza
	Title:	 	Managing Director
	
	SUNTRUST BANK, AS A COMMITTED PURCHASER
		
	By:	 	 /s/ William H. Crawford

	Name:	 	William H. Crawford
	Title:	 	Director

  

 4 

			
	THREE PILLARS FUNDING LLC
		
	By:	 	 /s/ Doris J. Hearn

	Name:	 	Doris J. Hearn
	Title:	 	Vice President
	
	ABN AMRO BANK N.V., AS A COMMITTED PURCHASER AND AS AMSTERDAM
AGENT
		
	By:	 	 /s/ David J. Donofrio

	Name:	 	David J. Donofrio
	Title:	 	Director
		
	By:	 	 /s/ Christopher M. Burke

	Name:	 	Christopher M. Burke
	Title:	 	Vice President
	
	AMSTERDAM FUNDING CORPORATION
		
	By:	 	 /s/ Jill A. Gordon

	Name:	 	Jill A. Gordon
	Title:	 	Vice President
	
	JPMORGAN CHASE BANK, N.A., AS A COMMITTED PURCHASER, AS FALCON AGENT
AND AS ADMINISTRATIVE AGENT
		
	By:	 	 /s/ Sherri Gerner

	Name:	 	Sherri Gerner
	Title:	 	Executive Director
	
	FALCON ASSET SECURITIZATION COMPANY LLC
	
	BY: JPMORGAN CHASE BANK, N.A., ITS
ATTORNEY-IN-FACT
		
	By:	 	 /s/ Sherri Gerner

	Name:	 	Sherri Gerner
	Title:	 	Executive Director

  

 5

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