Document:

Form of Restricted Stock Agreement

 Exhibit 10.51 
 FORM OF RESTRICTED STOCK AGREEMENT 
 WITH VARIED VESTING SCHEDULE OR CIRCUMSTANCES 
 20     Senior Officer Restricted Stock Grant 
 Continued Employment Performance Goal[s] 
 Restricted Period[s]:
                                        
         
 THE PNC FINANCIAL SERVICES GROUP, INC. 
 2006 INCENTIVE AWARD PLAN 
 *  *  * 
 RESTRICTED STOCK AGREEMENT 
 *  *  * 
  

			
	GRANTEE:	  	< name >
		
	GRANT DATE:	  	            , 20    
		
	SHARES:	  	< number of whole shares>

  
  
 1. Definitions. Certain terms used in this Restricted Stock Agreement (the “Agreement”) are defined in Annex A (which is incorporated
herein as part of the Agreement) or elsewhere in the Agreement, and such definitions will apply except where the context otherwise indicates. 
 In the Agreement, “PNC” means The PNC Financial Services Group, Inc. and “Corporation” means PNC and its Consolidated Subsidiaries. 
 2. Grant of Restricted Shares. Pursuant to The PNC Financial Services Group, Inc. 2006 Incentive Award Plan (the “Plan”), and subject to the terms and conditions of the Agreement, PNC hereby grants to
the Grantee named above (“Grantee”) a Restricted Shares Award of the number of shares of PNC common stock set forth above, and, upon acceptance of the Grant by Grantee in accordance with Section 16, will cause the issuance of said
shares to Grantee subject to the terms and conditions of the Agreement and the Plan. 
 The shares granted and issued to Grantee hereby as a
Restricted Shares Award subject to the restrictions set forth in and the terms and conditions of the Agreement and the Plan are hereafter referred to as the “Restricted Shares.” 
 [Describe vesting schedule and conditions, as necessary] 
  

					
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 3. Terms of Grant. The Grant is subject to the following terms and conditions. 
 Restricted Shares are subject to [a Restricted Period] [the Restricted Period] applicable to such shares as provided in Section A.27 of Annex A. Once
issued in accordance with Section 16, Restricted Shares will be deposited with PNC or its designee, or credited to a book-entry account, during the term of the [applicable] Restricted Period unless and until forfeited pursuant to the terms of
the Agreement. 
 Any certificate or certificates representing such Restricted Shares will contain the following legend: 
 “This certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture and restrictions against
transfer) contained in The PNC Financial Services Group, Inc. 2006 Incentive Award Plan and an Agreement entered into between the registered owner and The PNC Financial Services Group, Inc. Release from such terms and conditions will be made only in
accordance with the provisions of such Plan and such Agreement, a copy of each of which is on file in the office of the Corporate Secretary of The PNC Financial Services Group, Inc.” 
 Where a book-entry system is used with respect to the issuance of Restricted Shares, appropriate notation of such forfeiture possibility and transfer
restrictions will be made on the system with respect to the account or accounts to which the Restricted Shares are credited. 
 Restricted
Shares deposited with PNC or its designee during the term of the [applicable] Restricted Period[s] that become Awarded Shares as provided in Section A.2 of Annex A will be released and reissued to, or at the proper direction of, Grantee or
Grantee’s legal representative pursuant to Section 9. 
 4. Rights as Shareholder. Except as provided in Section 6 and
subject to Section 7.5(c), if applicable, and to Section 16, Grantee will have all the rights and privileges of a shareholder with respect to the Restricted Shares including, but not limited to, the right to vote the Restricted Shares and
the right to receive dividends thereon if and when declared by the Board; provided, however, that all such rights and privileges will cease immediately upon any forfeiture of such shares. 
 5. Capital Adjustments. Restricted Shares awarded hereunder shall, as issued and outstanding shares of PNC common stock, be subject to such
adjustment as may be necessary to reflect corporate transactions, including, without limitation, stock dividends, stock splits, spin-offs, split-offs, recapitalizations, mergers, consolidations or reorganizations of or by PNC; provided,
however, that any shares received as distributions on or in exchange for Unvested Shares shall be subject to the terms and conditions of the Agreement as if they were Restricted Shares[, and shall have the same Restricted Period and
Performance Goal that are applicable to the Restricted Shares that such shares were a distribution on or for which such shares were exchanged]. 
  

					
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 6. Prohibitions Against Sale, Assignment, etc.; Payment to Legal Representative. 
 (a) Unvested Shares may not be sold, assigned, transferred, exchanged, pledged, hypothecated or otherwise encumbered, other than as may be required
pursuant to Section 10.2, unless and until the [applicable] Restricted Period terminates and the Awarded Shares are released and reissued by PNC pursuant to Section 9. 
 (b) If Grantee is deceased at the time Restricted Shares become Awarded Shares, PNC will deliver such shares to the executor or administrator of
Grantee’s estate or to Grantee’s other legal representative as determined in good faith by the Committee. 
 (c) Any delivery of
shares or other payment made in good faith by PNC to Grantee’s executor, administrator or other legal representative shall extinguish all right to payment hereunder. 
 7. Forfeiture; Death; Qualifying Disability Termination; Termination in Anticipation of Change in Control; Other Committee Authority. 
 7.1 Forfeiture on Termination of Employment. Except as otherwise provided in and subject to the conditions of Section 7.3,
Section 7.4(a), Section 7.5(a), Section 7.5(b), Section 7.6, or Section 8, if applicable, in the event that Grantee’s employment with the Corporation terminates prior to [vesting date/condition], all Restricted Shares
that are Unvested Shares on Grantee’s Termination Date will be forfeited by Grantee to PNC without payment of any consideration by PNC. 
 Upon forfeiture of Unvested Shares pursuant to the provisions of this Section 7.1 or the provisions of Section 7.2, Section 7.4(b), or Section 7.5(d), neither Grantee nor any successors, heirs, assigns or legal
representatives of Grantee will thereafter have any further rights or interest in such Unvested Shares or any certificate or certificates representing such Unvested Shares. 
 7.2 Forfeiture for Detrimental Conduct. Unvested Shares that would otherwise remain outstanding after Grantee’s Termination Date, if any,
will be forfeited by Grantee to PNC without payment of any consideration by PNC in the event that, at any time prior to the date such shares become Awarded Shares, PNC determines that Grantee has engaged in Detrimental Conduct; provided,
however, that: (a) this Section 7.2 will not apply to Restricted Shares that remain outstanding after Grantee’s Termination Date pursuant to Section 7.3 or Section 7.5, if any; (b) no determination that Grantee has
engaged in Detrimental Conduct may be made on or after the date of Grantee’s death; (c) Detrimental Conduct will not apply to conduct by or activities of successors to the Restricted Shares by will or the laws of descent and distribution
in the event of Grantee’s death; and (d) Detrimental Conduct will cease to apply to any Restricted Shares upon a Change in Control. 
  

					
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 If any criminal charges are brought against Grantee alleging the commission of a felony that relates to
or arises out of Grantee’s employment or other service relationship with the Corporation in an indictment or in other analogous formal charges commencing judicial criminal proceedings, the Committee may determine to suspend the vesting of the
Restricted Shares, to the extent that the Restricted Shares are still outstanding and have not yet become Awarded Shares, or to require the escrow of the proceeds of the shares. Any such suspension or escrow is subject to the following restrictions:

 (i) It may last only until the earliest to occur of the following: 
 (A) resolution of the criminal proceedings in a manner that constitutes Detrimental Conduct; 
 (B) resolution of the criminal proceeding in one of the following ways: (1) the charges as they relate to such alleged felony have been dismissed
(with or without prejudice), (2) Grantee has been acquitted of such alleged felony, or (3) a criminal proceeding relating to such alleged felony has been completed without resolution (for example, as a result of a mistrial) and the
relevant time period for recommencing criminal proceedings relating to such alleged felony has expired without any such recommencement; and 
 (C) termination of the suspension or escrow in the discretion of the Committee; and 
 (ii) It may be imposed only if the Committee
makes reasonable provision for the retention or realization of the value of the Restricted Shares to Grantee as if no suspension or escrow had been imposed upon any termination of the suspension or escrow under clauses (i)(B) or (C) above.

 7.3 Death. In the event of Grantee’s death while an employee of the Corporation and prior to [vesting date/condition], [the
Continued Employment Performance Goal] [all remaining applicable Continued Employment Performance Goals] will be deemed to have been achieved, and the Restricted Period [or Periods] with respect to all then outstanding Unvested Shares, if
any, will terminate on the date of Grantee’s death. 
 The Restricted Shares which thereby become Awarded Shares will be released and
reissued by PNC to, or at the proper direction of, Grantee’s legal representative pursuant to Section 9 as soon as administratively practicable following such date. 
  

					
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	7.4	Qualifying Disability Termination. 

 (a) In the
event Grantee’s employment with the Corporation is terminated prior to [vesting date/condition] by the Corporation by reason of Grantee’s Total and Permanent Disability, Unvested Shares will not be automatically forfeited on Grantee’s
Termination Date. Instead, Unvested Shares will, subject to the forfeiture provisions of Section 7.2 and Section 7.4(b), remain outstanding pending and subject to affirmative approval of the vesting of the Restricted Shares pursuant to
this Section 7.4(a) by the Designated Person specified in Section A.15 of Annex A. 
 If such Unvested Shares are still outstanding but the Designated Person has not made a specific determination to either approve or disapprove the vesting of the Unvested Shares [or relevant portion thereof] by the day immediately preceding
[vesting date/condition, by tranche if applicable], then the Restricted Period [applicable to such shares] will be automatically extended through the first to occur of: (1) the day the Designated Person makes a specific determination regarding
such vesting; and (2) either (i) the ninetieth (90th) day following [vesting date/condition, by tranche if applicable], if the
Designated Person is the Chief Human Resources Officer of PNC or other person designated by the Committee, or (ii) the 180th day following such
[vesting date/condition] if the Designated Person is the Committee or its delegate, whichever is applicable; provided, however, if the Committee has acted to suspend the vesting of the Restricted Shares pursuant to Section 7.2,
the Restricted Period will be extended until the terms of such suspension have been satisfied. 
 If the vesting of the then outstanding
Unvested Shares [or relevant portion thereof] is affirmatively approved by the Designated Person on or prior to the last day of the [applicable] Restricted Period for [the respective tranche of] such shares, including any extension of such
Restricted Period, if applicable, then the [applicable] Continued Employment Performance Goal with respect to such [tranche of] shares will be deemed to have been achieved, and the Restricted Period with respect to all [such Unvested Shares
in such tranche then outstanding] [then outstanding Unvested Shares], if any, will terminate as of the end of the day on the date of such approval. Restricted Shares outstanding at the termination of [the] [such applicable] Restricted Period will
become Awarded Shares and will be released and reissued by PNC pursuant to Section 9. 
 (b) If the Designated Person disapproves the
vesting of Unvested Shares that had remained outstanding after Grantee’s Termination Date pending and subject to affirmative approval of vesting, then all such Unvested Shares that are still outstanding will be forfeited by Grantee to PNC on
such disapproval date without payment of any consideration by PNC. 
 If by the end of the [applicable] Restricted Period, including any
extension of such Restricted Period pursuant to the second paragraph of Section 7.4(a), if applicable, the Designated Person has neither affirmatively approved nor specifically disapproved the vesting of [such] [the] Unvested Shares that had
remained outstanding after Grantee’s Termination Date pending and subject to affirmative approval of vesting, then all such Unvested Shares that are still outstanding will be forfeited by Grantee to PNC at the close of business on the last day
of the [applicable] Restricted Period without payment of any consideration by PNC. 
  

					
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 7.5 Termination in Anticipation of a Change in Control. 
 (a) Notwithstanding anything in the Agreement to the contrary, if, after the occurrence of a CIC Triggering Event but prior to the occurrence of a CIC
Failure or of the Change in Control triggered by the CIC Triggering Event and prior to [vesting date/condition], Grantee’s employment is terminated (other than by reason of Grantee’s death) by the Corporation without Cause or by Grantee
for Good Reason, or if Grantee’s employment is deemed to have been so terminated pursuant to Section 7.5(b), then: (i) [the] [all remaining applicable] Continued Employment Performance Goal[s] will be deemed to have been
achieved and the Restricted Period [or Periods] with respect to all then outstanding Unvested Shares, if any, will terminate as of the end of the day on the day immediately preceding Grantee’s Termination Date (or, in the case of a qualifying
termination pursuant to Section 7.5(b), the date all of the conditions set forth in clauses (i), (ii) and (iii) of the first or second paragraph, as the case may be, of Section 7.5(b) are met); and (ii) all Restricted Shares
that thereby become Awarded Shares will be released and reissued by PNC pursuant to Section 9 as soon as administratively practicable following such date. 
 (b) Grantee’s employment will also be deemed to have been terminated by the Corporation without Cause after the occurrence of a CIC Triggering Event but prior to the occurrence of a CIC Failure or of the
Change in Control triggered by the CIC Triggering Event for purposes of Section 7.5(a) if: (i) Grantee’s employment is terminated by the Corporation without Cause; (ii) such termination of employment (a) was at the request
of a third party that has taken steps reasonably calculated to effect a Change in Control or (b) otherwise arose in anticipation of a Change in Control; and (iii) a CIC Triggering Event or a Change in Control occurs within three
(3) months of such termination of employment. 
 Grantee’s employment will also be deemed to have been terminated by Grantee
for Good Reason after the occurrence of a CIC Triggering Event but prior to a CIC Failure for purposes of Section 7.5(a) if: (i) Grantee terminates Grantee’s employment with Good Reason; (ii) the circumstance or event that
constitutes Good Reason (a) occurs at the request of a third party that has taken steps reasonably calculated to effect a Change in Control or (b) otherwise arose in anticipation of a Change in Control; and (iii) a CIC Triggering
Event or a Change in Control occurs within three (3) months of such termination of employment. 
 For purposes of this
Section 7.5(b) only, Grantee will have the burden of proving that the requirements of clause (ii) of the first or second paragraph of this Section 7.5(b), as the case may be, have been met and the standard of proof to be met by
Grantee will be clear and convincing evidence. 
 For purposes of this Section 7.5(b) only, the definition of Change in Control in
Section A.6 of Annex A will exclude the proviso in Section A.6(a). 
  

					
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 (c) If Unvested Shares will be forfeited by Grantee to PNC by reason of Grantee’s termination of
employment with the Corporation pursuant to Section 7.1 unless all of the conditions set forth in clauses (i), (ii) and (iii) of the first or second paragraph, as the case may be, of Section 7.5(b) are met, then in the event that
the record date for any dividend payable with respect to such Unvested Shares occurs on or after Grantee’s Termination Date but prior to the time all of the conditions set forth in clauses (i), (ii) and (iii) of the first or second
paragraph, as the case may be, of Section 7.5(b) have been met, such dividend will be held, without interest, pending and subject to satisfaction of all of such conditions. In the event that one or more of the conditions of Section 7.5(b)
are not met, any dividend being held pending and subject to satisfaction of such conditions will be forfeited by Grantee to PNC without payment of any consideration by PNC. 
 (d) If Unvested Shares will be forfeited by Grantee to PNC by reason of Grantee’s termination of employment with the Corporation pursuant to
Section 7.1 unless all of the conditions set forth in clauses (i), (ii) and (iii) of the first or second paragraph, as the case may be, of Section 7.5(b) are met, then such Restricted Shares will remain outstanding pending and
subject to satisfaction of all of those conditions. Upon the failure of any required condition, all such Unvested Shares will be forfeited by Grantee to PNC on the date such failure occurs without payment of any consideration by PNC. 
 7.6 Other Committee Authority. Prior to [vesting date/condition], the Committee or its delegate may in their sole discretion, but need not,
determine that, with respect to some or all of Grantee’s outstanding Unvested Shares, the [applicable] Continued Employment Performance Goal [or Goals] will be deemed to have been achieved and the [applicable] Restricted Period [or
Periods] with respect to such shares will terminate, all subject to such restrictions, terms or conditions as the Committee or its delegate may in their sole discretion determine. 
 8. Change in Control. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change in Control: (i) if Grantee
is an employee of the Corporation as of the day immediately preceding the Change in Control, [the Continued Employment Performance Goal] [all remaining applicable Continued Employment Performance Goals] will be deemed to have been achieved
and the Restricted Period [or Periods] with respect to all then outstanding Unvested Shares, if any, will terminate as of the day immediately preceding the Change in Control; (ii) if Grantee’s employment with the Corporation terminated
prior to the occurrence of the Change in Control but Unvested Shares remained outstanding after such termination of employment pursuant to Section 7.4 and are still outstanding pending and subject to affirmative approval of the vesting of such
shares by the Designated Person specified in Section A.15 of Annex A, then with respect to all such Unvested Shares outstanding as of the day immediately preceding the Change in Control, such affirmative vesting approval will be deemed
to have been given, the [applicable] Continued Employment Performance Goal [or Goals] will be deemed to have been achieved, and the [applicable] Restricted Period [or Periods] will terminate, all as of the day immediately preceding the Change
in Control; and (iii) all Restricted Shares that thereby become Awarded Shares will be released and reissued by PNC pursuant to Section 9 as soon as administratively practicable following such date. 
  

					
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 9. Termination of Prohibitions; Payment to Legal Representative. Except as otherwise directed by
the Committee pursuant to the suspension or escrow provisions of Section 7.2, if and to the extent applicable, following termination of the [applicable] Restricted Period, PNC will release and issue or reissue the then outstanding whole
Restricted Shares that have become Awarded Shares without the legend referred to in Section 3. 
 Upon release and issuance of shares
that have become Awarded Shares in accordance with this Section 9, PNC or its designee will deliver such whole shares to, or at the proper direction of, Grantee or Grantee’s legal representative. 
 Any delivery of shares or other payment made in good faith by PNC to Grantee’s executor, administrator or other legal representative shall
extinguish all right to payment hereunder. 
 10. Payment of Taxes. 
 10.1 Internal Revenue Code Section 83(b) Election. In the event that Grantee makes an Internal Revenue Code Section 83(b) election with
respect to the Restricted Shares, Grantee shall satisfy all then applicable federal, state or local withholding tax obligations arising from that election (a) by payment of cash or (b) if and to the extent then permitted by PNC and subject
to such terms and conditions as PNC may from time to time establish, by physical delivery to PNC of certificates for whole shares of PNC common stock that are not subject to any contractual restriction, pledge or other encumbrance and that have been
owned by Grantee for at least six (6) months and, in the case of restricted stock, for which it has been at least six (6) months since the restrictions lapsed, or by a combination of cash and such stock. Any such tax election shall be made
pursuant to a form to be provided to Grantee by PNC on request. For purposes of this Section 10.1, shares of PNC common stock that are used to satisfy applicable withholding tax obligations will be valued at their Fair Market Value on the date
the tax withholding obligation arises. Grantee will provide to PNC a copy of any Internal Revenue Code Section 83(b) election filed by Grantee with respect to the Restricted Shares not later than ten (10) days after the filing of such
election. 
 10.2 Other Tax Liabilities. Where Grantee has not previously satisfied all applicable withholding tax obligations, PNC
will, at the time the tax withholding obligation arises with respect to any Restricted Shares, retain sufficient whole shares of PNC common stock from the shares granted pursuant to the Agreement to satisfy the minimum amount of taxes then required
to be withheld by the Corporation in connection with such Restricted Shares. For purposes of this Section 10.2, shares of PNC common stock retained to satisfy applicable withholding tax requirements will be valued at their Fair Market Value on
the date the tax withholding obligation arises. 
  

					
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 PNC will not retain more than the number of shares sufficient to satisfy the minimum amount of
taxes then required to be withheld in connection with the Restricted Shares. If Grantee desires to have an additional amount withheld above the required minimum, up to Grantee’s W-4 obligation if higher, and if PNC so permits, Grantee may elect
to satisfy this additional withholding either: (a) by payment of cash; or (b) if and to the extent then permitted by PNC and subject to such terms and conditions as PNC may from time to time establish, using whole shares of PNC common
stock (either by physical delivery to PNC of certificates for the shares or through PNC’s share attestation procedure) that are not subject to any contractual restriction, pledge or other encumbrance and that have been owned by Grantee for at
least six (6) months and, in the case of restricted stock, for which it has been at least six (6) months since the restrictions lapsed. Any such tax election shall be made pursuant to a form provided by PNC. Shares of PNC common stock that
are used for this purpose will be valued at their Fair Market Value on the date the tax withholding obligation arises. If Grantee’s W-4 obligation does not exceed the required minimum withholding in connection with the Restricted Shares, no
additional withholding may be made. 
 11. Employment. Neither the granting and issuance of the Restricted Shares nor any term or
provision of the Agreement shall constitute or be evidence of any understanding, expressed or implied, on the part of PNC or any subsidiary to employ Grantee for any period or in any way alter Grantee’s status as an employee at will.

 12. Subject to the Plan and the Committee. In all respects the Grant and the Agreement are subject to the terms and conditions of
the Plan, which has been made available to Grantee and is incorporated herein by reference; provided, however, the terms of the Plan shall not be considered an enlargement of any benefits under the Agreement. Further, the Grant and the
Agreement are subject to any interpretation of, and any rules and regulations issued by, the Committee or its delegate or under the authority of the Committee, whether made or issued before or after the Grant Date. 
 13. Headings; Entire Agreement. Headings used in the Agreement are provided for reference and convenience only, shall not be considered part of
the Agreement, and shall not be employed in the construction of the Agreement. The Agreement constitutes the entire agreement between Grantee and PNC and supersedes all other discussions, negotiations, correspondence, representations, understandings
and agreements between the parties with respect to the subject matter hereof. 
 14. Grantee Covenants. 
 14.1 General. Grantee and PNC acknowledge and agree that Grantee has received adequate consideration with respect to enforcement of the provisions
of Sections 14 and 15 by virtue of receiving this grant of Restricted Shares (regardless of whether such shares ultimately become Awarded Shares); that such provisions are reasonable and properly required for the adequate protection of the
business of PNC and its subsidiaries; and that enforcement of such provisions will not prevent Grantee from earning a living. 
  

					
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 14.2 Non-Solicitation; No-Hire. Grantee agrees to comply with the provisions of subsections
(a) and (b) of this Section 14.2 while employed by the Corporation and for a period of twelve (12) months after Grantee’s Termination Date regardless of the reason for such termination of employment. 
 (a) Non-Solicitation. Grantee shall not, directly or indirectly, either for Grantee’s own benefit or purpose or for the benefit or purpose of
any Person other than PNC or any of its subsidiaries, solicit, call on, do business with, or actively interfere with PNC’s or any subsidiary’s relationship with, or attempt to divert or entice away, any Person that Grantee should
reasonably know (i) is a customer of PNC or any subsidiary for which PNC or any subsidiary provides any services as of the Termination Date, or (ii) was a customer of PNC or any subsidiary for which PNC or any subsidiary provided any
services at any time during the twelve (12) months preceding the Termination Date, or (iii) was, as of the Termination Date, considering retention of PNC or any subsidiary to provide any services. 
 (b) No-Hire. Grantee shall not, directly or indirectly, either for Grantee’s own benefit or purpose or for the benefit or purpose of any
Person other than PNC or any of its subsidiaries, employ or offer to employ, call on, or actively interfere with PNC’s or any subsidiary’s relationship with, or attempt to divert or entice away, any employee of PNC or any of its
subsidiaries, nor shall Grantee assist any other Person in such activities. 
 Notwithstanding the above, if Grantee’s employment with
the Corporation is terminated by the Corporation without Cause or by Grantee with Good Reason and such Termination Date occurs during a Coverage Period (either as Coverage Period is defined in Section A.14 of Annex A or, if Grantee was a party to a
written agreement between Grantee and PNC providing, among other things, for certain change in control severance benefits (a “CIC Severance Agreement”) that was in effect at the time of such termination of employment, as Coverage Period is
defined in such CIC Severance Agreement, if longer), then commencing immediately after such Termination Date, the provisions of subsections (a) and (b) of this Section 14.2 will no longer apply and will be replaced with the following
subsection (c): 
 (c) No-Hire. Grantee agrees that Grantee shall not, for a period of twelve (12) months after the Termination
Date, employ or offer to employ, solicit, actively interfere with PNC’s or any PNC affiliate’s relationship with, or attempt to divert or entice away, any officer of PNC or any PNC affiliate. 
 14.3 Confidentiality. During Grantee’s employment with the Corporation, and thereafter regardless of the reason for termination of such
employment, Grantee will not disclose or use in any way any confidential business or technical information or trade secret acquired in the course of such employment, all of which is the exclusive and valuable property of the Corporation whether or
not conceived of or prepared by Grantee, other than (a) information generally known in the Corporation’s industry or acquired from public sources, (b) as required in the course of employment by the Corporation, (c) as required by
any court, supervisory authority, administrative agency or applicable law, or (d) with the prior written consent of PNC. 
  

					
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 14.4 Ownership of Inventions. Grantee shall promptly and fully disclose to PNC any and all
inventions, discoveries, improvements, ideas or other works of inventorship or authorship, whether or not patentable, that have been or will be conceived and/or reduced to practice by Grantee during the term of Grantee’s employment with the
Corporation, whether alone or with others, and that are (a) related directly or indirectly to the business or activities of PNC or any of its subsidiaries or (b) developed with the use of any time, material, facilities or other resources
of PNC or any subsidiary (“Developments”). Grantee agrees to assign and hereby does assign to PNC or its designee all of Grantee’s right, title and interest, including copyrights and patent rights, in and to all Developments. Grantee
shall perform all actions and execute all instruments that PNC or any subsidiary shall deem necessary to protect or record PNC’s or its designee’s interests in the Developments. The obligations of this Section 14.4 shall be performed
by Grantee without further compensation and will continue beyond the Termination Date. 
 15. Enforcement Provisions. Grantee
understands and agrees to the following provisions regarding enforcement of the Agreement. 
 15.1 Governing Law and Jurisdiction. The
Agreement is governed by and construed under the laws of the Commonwealth of Pennsylvania, without reference to its conflict of laws provisions. Any dispute or claim arising out of or relating to the Agreement or claim of breach hereof shall be
brought exclusively in the federal court for the Western District of Pennsylvania or in the Court of Common Pleas of Allegheny County, Pennsylvania. By execution of the Agreement, Grantee and PNC hereby consent to the exclusive jurisdiction of such
courts, and waive any right to challenge jurisdiction or venue in such courts with regard to any suit, action, or proceeding under or in connection with the Agreement. 
 15.2 Equitable Remedies. A breach of the provisions of any of Sections 14.2, 14.3 or 14.4 will cause the Corporation irreparable harm, and the Corporation will therefore be entitled to issuance of immediate, as
well as permanent, injunctive relief restraining Grantee, and each and every person and entity acting in concert or participating with Grantee, from initiation and/or continuation of such breach. 
 15.3 Tolling Period. If it becomes necessary or desirable for the Corporation to seek compliance with the provisions of Section 14.2 by legal
proceedings, the period during which Grantee shall comply with said provisions will extend for a period of twelve (12) months from the date the Corporation institutes legal proceedings for injunctive or other relief. 
 15.4 No Waiver. Failure of PNC to demand strict compliance with any of the terms, covenants or conditions of the Agreement will not be deemed a
waiver of such term, covenant or condition, nor will any waiver or relinquishment of any such term, covenant or condition on any occasion or on multiple occasions be deemed a waiver or relinquishment of such term, covenant or condition. 

 

					
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 15.5 Severability. The restrictions and obligations imposed by Sections 14.2, 14.3 and 14.4 are
separate and severable, and it is the intent of Grantee and PNC that if any restriction or obligation imposed by any of these provisions is deemed by a court of competent jurisdiction to be void for any reason whatsoever, the remaining provisions,
restrictions and obligations will remain valid and binding upon Grantee. 
 15.6 Reform. In the event any of Sections 14.2, 14.3 and
14.4 are determined by a court of competent jurisdiction to be unenforceable because unreasonable either as to length of time or area to which said restriction applies, it is the intent of Grantee and PNC that said court reduce and reform the
provisions thereof so as to apply the greatest limitations considered enforceable by the court. 
 15.7 Waiver of Jury Trial. Each of
Grantee and PNC hereby waives any right to trial by jury with regard to any suit, action or proceeding under or in connection with any of Sections 14.2, 14.3 and 14.4. 
 15.8 Applicable Law. Notwithstanding anything in the Agreement, PNC will not be required to comply with any term, covenant or condition of the Agreement if and to the extent prohibited by law, including but not
limited to federal banking and securities regulations, or as otherwise directed by one or more regulatory agencies having jurisdiction over PNC or any of its subsidiaries. Further, to the extent, if any, applicable to Grantee, Grantee agrees to
reimburse PNC for any amounts Grantee may be required to reimburse PNC or its subsidiaries pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, and agrees that PNC need not comply with any term, covenant or condition of the Agreement to
the extent that doing so would require that Grantee reimburse PNC or its subsidiaries for such amounts pursuant to Section 304 of the Sarbanes-Oxley Act of 2002. 
 15.9. Compliance with Internal Revenue Code Section 409A. It is the intention of the parties that the Grant and the Agreement comply with the provisions of Section 409A to the extent, if any, that
such provisions are applicable to the Agreement, and the Agreement will be administered by PNC in a manner consistent with this intent. 
 If
any payments or benefits hereunder may be deemed to constitute nonconforming deferred compensation subject to taxation under the provisions of Section 409A, Grantee agrees that PNC may, without the consent of Grantee, modify the Agreement and
the Grant to the extent and in the manner PNC deems necessary or advisable or take such other action or actions, including an amendment or action with retroactive effect, that PNC deems appropriate in order either to preclude any such payments or
benefits from being deemed “deferred compensation” within the meaning of Section 409A or to provide such payments or benefits in a manner that complies with the provisions of Section 409A such that they will not be taxable
thereunder. 
  

					
		  	-12-	  	April 2008

 16. Acceptance of Grant; PNC Right to Cancel. If Grantee does not accept the Grant by executing
and delivering a copy of the Agreement to PNC, without altering or changing the terms thereof in any way, within thirty (30) days of receipt by Grantee of a copy of the Agreement, PNC may, in its sole discretion, withdraw its offer and cancel
the Grant at any time prior to Grantee’s delivery to PNC of a copy of the Agreement executed by Grantee. Otherwise, upon execution and delivery of the Agreement by both PNC and Grantee and, in the event that Grantee is subject to the reporting
requirements of Section 16(a) of the Exchange Act with respect to PNC securities, the filing with and acceptance by the SEC of a Form 4 reporting the Grant, the Agreement is effective. 
 Grantee will not have any of the rights of a shareholder with respect to the Restricted Shares as set forth in Section 4, and will not have the
right to vote or to receive dividends on such shares, until the date the Agreement is effective and the Restricted Shares are issued in accordance with this Section 16. 
 In the event that one or more record dates for dividends on PNC common stock occur after the Grant Date but before the date the Agreement is effective in
accordance with this Section 16 and the Restricted Shares are issued, then upon the effectiveness of the Agreement, the Corporation will make a cash payment to Grantee equivalent to the amount of the dividends Grantee would have received had
the Agreement been effective and the Restricted Shares had been issued on the Grant Date. Any such amount will be payable in accordance with applicable regular payroll practice as in effect from time to time for similarly situated employees.

 IN WITNESS WHEREOF, PNC has caused the Agreement to be signed on its behalf as of the Grant
Date. 
  

			
	THE PNC FINANCIAL SERVICES GROUP, INC.
		
	 By:
	 	
	
	 Chairman and Chief Executive Officer

	
	 ATTEST:

		
	 By:
	 	
	
	 Corporate Secretary

	
	 ACCEPTED AND AGREED TO by GRANTEE

	
	  
 Grantee

  

					
		  	-13-	  	April 2008

 ANNEX A 
 CERTAIN DEFINITIONS 
 *  *  * 
 A.1 “Agreement” means the Restricted Stock Agreement between PNC and Grantee evidencing the Grant of the Restricted Shares Award to
Grantee pursuant to the Plan. 
 A.2 “Awarded Shares.” Provided that Restricted Shares are then outstanding, Restricted
Shares become “Awarded Shares” when all of the following have occurred: (a) the Continued Employment Performance Goal applicable to such Restricted Shares has been achieved or is deemed to have been achieved pursuant to
the terms of the Agreement; (b) the Restricted Period applicable to such Restricted Shares has terminated; and (c) if the Committee has acted to suspend the vesting of the Restricted Shares pursuant to Section 7.2 of the Agreement,
the terms of such suspension have been satisfied and the Restricted Shares have not been forfeited. 
 A.3 “Board” means the
Board of Directors of PNC. 
 A.4 “Cause” means: 
 (a) the willful and continued failure of Grantee to substantially perform Grantee’s duties with the Corporation (other than any such failure
resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to Grantee by the Board or the CEO which specifically identifies the manner in which the Board or the CEO believes that
Grantee has not substantially performed Grantee’s duties; or 
 (b) the willful engaging by Grantee in illegal conduct or gross
misconduct that is materially and demonstrably injurious to PNC or any of its subsidiaries. 
 For purposes of the preceding clauses
(a) and (b), no act or failure to act, on the part of Grantee, shall be considered willful unless it is done, or omitted to be done, by Grantee in bad faith and without reasonable belief that Grantee’s action or omission was in the best
interests of the Corporation. Any act, or failure to act, based upon the instructions or prior approval of the Board, the CEO or Grantee’s superior or based upon the advice of counsel for the Corporation, shall be conclusively presumed to be
done, or omitted to be done, by Grantee in good faith and in the best interests of the Corporation. 
 The cessation of employment of Grantee
will be deemed to be a termination of Grantee’s employment with the Corporation for Cause for purposes of the Agreement only if and when there shall have been delivered to Grantee, as part of the notice of Grantee’s termination, a
copy of a resolution duly adopted by the affirmative vote of not 

  

					
		  	-14-	  	April 2008

 
less than a majority of the entire membership of the Board, at a Board meeting called and held for the purpose of considering such termination, finding on
the basis of clear and convincing evidence that, in the good faith opinion of the Board, Grantee is guilty of conduct described in clause (a) or clause (b) above and, in either case, specifying the particulars thereof in detail. Such
resolution shall be adopted only after (i) reasonable notice of such Board meeting is provided to Grantee, together with written notice that PNC believes that Grantee is guilty of conduct described in clause (a) or clause (b) above
and, in either case, specifying the particulars thereof in detail, and (ii) Grantee is given an opportunity, together with counsel, to be heard before the Board. 
 A.5 “CEO” means the chief executive officer of PNC. 
 A.6 “Change in
Control” means a change of control of PNC of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form)
promulgated under the Exchange Act, whether or not PNC is then subject to such reporting requirement; provided, however, that without limitation, a Change in Control will be deemed to have occurred if: 
 (a) any Person, excluding employee benefits plans of the Corporation, is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act or any successor provisions thereto), directly or indirectly, of securities of PNC representing twenty percent (20%) or more of the combined voting power of PNC’s then outstanding securities; provided, however,
that such an acquisition of beneficial ownership representing between twenty percent (20%) and forty percent (40%), inclusive, of such voting power will not be considered a Change in Control if the Board approves such acquisition either prior
to or immediately after its occurrence; 
 (b) PNC consummates a merger, consolidation, share exchange, division or other reorganization or
transaction of PNC (a “Fundamental Transaction”) with any other corporation, other than a Fundamental Transaction that results in the voting securities of PNC outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) at least sixty percent (60%) of the combined voting power immediately after such Fundamental Transaction of (i) PNC’s outstanding securities,
(ii) the surviving entity’s outstanding securities, or (iii) in the case of a division, the outstanding securities of each entity resulting from the division; 
 (c) the shareholders of PNC approve a plan of complete liquidation or winding-up of PNC or an agreement for the sale or disposition (in one transaction
or a series of transactions) of all or substantially all of PNC’s assets; 
 (d) as a result of a proxy contest, individuals who prior
to the conclusion thereof constituted the Board (including for this purpose any new director whose election or nomination for election by PNC’s shareholders in connection with such proxy contest was approved by a vote of at least two-thirds
(2/3rds) of the directors then still in office who were directors prior to such proxy contest) cease to constitute at least a majority of the Board (excluding any Board seat that is vacant or otherwise unoccupied); 
  

					
		  	-15-	  	April 2008

 (e) during any period of twenty-four (24) consecutive months, individuals who at the beginning of
such period constituted the Board (including for this purpose any new director whose election or nomination for election by PNC’s shareholders was approved by a vote of at least two-thirds (2/3rds) of the directors then still in office who
were directors at the beginning of such period) cease for any reason to constitute at least a majority of the Board (excluding any Board seat that is vacant or otherwise unoccupied); or 
 (f) the Board determines that a Change in Control has occurred. 
 Notwithstanding anything to the contrary herein, a divestiture or spin-off of a subsidiary or division of PNC or any of its subsidiaries will not by itself constitute a Change in Control. 
 A.7 “CIC Failure” means the following: 
 (a) with respect to a CIC Triggering Event described in Section A.8(a), PNC’s shareholders vote against the transaction approved by the Board or the agreement to consummate the transaction is terminated; or

 (b) with respect to a CIC Triggering Event described in Section A.8(b), the proxy contest fails to replace or remove a majority of the
members of the Board. 
 A.8 “CIC Triggering Event” means the occurrence of either of the following: 
 (a) the Board or PNC’s shareholders approve a transaction described in Subsection (b) of the definition of Change in Control contained in
Section A.6; or 
 (b) the commencement of a proxy contest in which any Person seeks to replace or remove a majority of the members of the
Board. 
 A.9 “Committee” means the Personnel and Compensation Committee of the Board or such person or persons as may be
designated or appointed by that committee as its delegate or designee. 
 A.10 “Competitive Activity” means, for purposes of
the Agreement, any participation in, employment by, ownership of any equity interest exceeding one percent (1%) in, or promotion or organization of, any Person other than PNC or any of its subsidiaries (a) engaged in business activities
similar to some or all of the business activities of PNC or any subsidiary as of Grantee’s Termination Date or (b) engaged in business activities which Grantee knows PNC or any subsidiary intends to enter within the first twelve
(12) months after Grantee’s Termination Date or, if later and if applicable, after the date specified in clause (ii) of Section A.16(a), in either case whether 

  

					
		  	-16-	  	April 2008

 
Grantee is acting as agent, consultant, independent contractor, employee, officer, director, investor, partner, shareholder, proprietor or in any other
individual or representative capacity therein. 
 A.11 “Consolidated Subsidiary” means a corporation, bank, partnership,
business trust, limited liability company or other form of business organization that (1) is a consolidated subsidiary of PNC under generally accepted accounting principles and (2) satisfies the definition of “service recipient”
under Section 409A of the Internal Revenue Code. 
 A.12 “Continued Employment Performance Goal.” The applicable
Continued Employment Performance Goal for Restricted Shares means, subject to early achievement if so determined by the Committee or its delegate or to deemed achievement pursuant to Section 7.3, Section 7.4, Section 7.5, or
Section 8 of the Agreement, if applicable, that Grantee has been continuously employed by the Corporation for the period from the Grant Date through (and including) the day immediately preceding the first of the following to occur:
(a) [vesting date/condition, by tranche if applicable]; (b) the date of Grantee’s death; and (c) the day a Change in Control is deemed to have occurred. 
 A.13 “Corporation” means PNC and its Consolidated Subsidiaries. 
 A.14 “Coverage Period” means a period (a) commencing on the earlier to occur of (i) the date of a CIC Triggering Event and
(ii) the date of a Change in Control and (b) ending on the date that is three (3) years after the date of the Change in Control; provided, however, that in the event that a Coverage Period commences on the date of a CIC
Triggering Event, such Coverage Period will terminate upon the earlier to occur of (x) the date of a CIC Failure and (y) the date that is three (3) years after the date of the Change in Control triggered by the CIC Triggering Event.
After the termination of any Coverage Period, another Coverage Period will commence upon the earlier to occur of clause (a)(i) and clause (a)(ii) in the preceding sentence. 
 A.15 “Designated Person” will be either: (a) the Committee or its delegate, if Grantee was a member of the Corporate Executive
Group (or equivalent successor classification) or was subject to the reporting requirements of Section 16(a) of the Exchange Act with respect to PNC securities when he or she ceased to be an employee of the Corporation; or (b) the Chief
Human Resources Officer of PNC, or such other person as the Committee may designate, if Grantee is not within one of the groups specified in Section A.15(a). 
 A.16 “Detrimental Conduct” means, for purposes of the Agreement: 
 (a) Grantee has engaged, without the prior written consent of PNC (with consent to be given at PNC’s sole discretion), in any Competitive Activity in the continental United States at any time during the period
commencing on Grantee’s Termination Date and extending through (and including) the first (1st) anniversary of the 

  

					
		  	-17-	  	April 2008

 
later of (i) Grantee’s Termination Date and, if different, (ii) the first date after Grantee’s Termination Date as of which Grantee
ceases to be engaged by the Corporation in any capacity for which Grantee receives compensation from the Corporation, including but not limited to acting for compensation as a consultant, independent contractor, employee, officer, director or
advisory director; 
 (b) any act of fraud, misappropriation, or embezzlement by Grantee against PNC or one of its subsidiaries or any client
or customer of PNC or one of its subsidiaries; or 
 (c) any conviction (including a plea of guilty or of nolo contendere) of Grantee
for, or any entry by Grantee into a pre-trial disposition with respect to, the commission of a felony that relates to or arises out of Grantee’s employment or other service relationship with the Corporation. 
 Grantee will be deemed to have engaged in Detrimental Conduct for purposes of the Agreement only if and when the Committee (if Grantee was an
“executive officer” of PNC as defined in SEC Regulation S-K when he or she ceased to be an employee of the Corporation) or the CEO (if Grantee was not such an executive officer), whichever is applicable, determines that Grantee has engaged
in conduct described in clause (a) or clause (b) above or that an event described in clause (c) above has occurred with respect to Grantee, and, if so, determines that Grantee will be deemed to have engaged in Detrimental Conduct.

 A.17 “Exchange Act” means the Securities Exchange Act of 1934 as amended, and the rules and regulations promulgated
thereunder. 
 A.18 “Fair Market Value” as it relates to a share of PNC common stock as of any given date means the average
of the reported high and low trading prices on the New York Stock Exchange (or such successor reporting system as PNC may select) for a share of PNC common stock on such date, or, if no PNC common stock trades have been reported on such exchange for
that day, the average of such prices on the next preceding day and the next following day for which there were reported trades. 
 A.19
“GAAP” or “generally accepted accounting principles” means accounting principles generally accepted in the United States of America. 
 A.20 “Good Reason” means: 
 (a) the assignment to Grantee of any duties inconsistent in any
respect with Grantee’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities immediately prior to either the CIC Triggering Event or the Change in Control, or any other action by the
Corporation which results in a diminution in any respect in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith that is remedied by the Corporation
promptly after receipt of notice thereof given by Grantee; 
  

					
		  	-18-	  	April 2008

 (b) a reduction by the Corporation in Grantee’s annual base salary as in effect on the Grant Date,
as the same may be increased from time to time; 
 (c) the Corporation’s requiring Grantee to be based at any office or location that is
more than fifty (50) miles from Grantee’s office or location immediately prior to either the CIC Triggering Event or the Change in Control; 
 (d) the failure by the Corporation (i) to continue in effect any bonus, stock option or other cash or equity-based incentive plan or program in which Grantee participates immediately prior to either the CIC
Triggering Event or the Change in Control that is material to Grantee’s total compensation, unless a substantially equivalent arrangement (embodied in an ongoing substitute or alternative plan or program) has been made with respect to such plan
or program, or (ii) to continue Grantee’s participation in such plan or program (or in such substitute or alternative plan or program) on a basis at least as favorable, both in terms of the amount of benefits provided and the level of
Grantee’s participation relative to other participants, as existed immediately prior to the CIC Triggering Event or the Change in Control; or 
 (e) the failure by the Corporation to continue to provide Grantee with benefits substantially similar to those received by Grantee under any of the Corporation’s pension (including, but not limited to, tax-qualified plans), life
insurance, health, accident, disability or other welfare plans or programs in which Grantee was participating, at costs substantially similar to those paid by Grantee, immediately prior to the CIC Triggering Event or the Change in Control.

 A.21 “Grant” means the Restricted Shares Award granted to Grantee pursuant to Section 2 of the Agreement and
pursuant to which the Restricted Shares are issued to Grantee subject to the restrictions set forth in and the terms and conditions of the Agreement and the Plan. 
 A.22 “Grant Date” means the Grant Date set forth on page 1 of the Agreement and is the date as of which the Restricted Shares Award is authorized to be granted by the Committee or its delegate in
accordance with the Plan. 
 A.23 “Grantee” means the person to whom the Restricted Stock Award is granted and the
Restricted Shares are issued, and is identified as Grantee on page 1 of the Agreement. 
 A.24 “Internal Revenue Code” means
the Internal Revenue Code of 1986 as amended, and the rules and regulations promulgated thereunder. 
 A.25 “Person” has the
meaning given in Section 3(a)(9) of the Exchange Act and also includes any syndicate or group deemed to be a person under Section 13(d)(3) of the Exchange Act. 
  

					
		  	-19-	  	April 2008

 A.26 “PNC” means The PNC Financial Services Group, Inc. 
 A.27 “Restricted Period.” The applicable Restricted Period for Restricted Shares means, subject to early termination if so determined by
the Committee or its delegate or pursuant to Section 7.5 of the Agreement, if applicable, the period from the Grant Date through (and including) the earlier of: (a) the date of Grantee’s death; (b) the day immediately preceding
the day a Change in Control is deemed to have occurred; and (c) the day immediately preceding [vesting date/condition, by tranche if applicable] or, if later, the last day of any extension of the [applicable] Restricted Period for such
shares pursuant to Section 7.4(a) of the Agreement, if applicable. 
 A.28 “SEC” means the United States Securities and
Exchange Commission. 
 A.29 “Termination Date” means Grantee’s last date of employment with the Corporation. If
Grantee is employed by a Consolidated Subsidiary that ceases to be a subsidiary of PNC or ceases to be a consolidated subsidiary of PNC under generally accepted accounting principles and Grantee does not continue to be employed by PNC or a
Consolidated Subsidiary, then for purposes of the Agreement, Grantee’s employment with the Corporation terminates effective at the time this occurs. 
 A.30 “Total and Permanent Disability” means, unless the Committee or its delegate determines otherwise, Grantee’s disability as determined to be total and permanent by the Corporation for
purposes of the Agreement. 
 A.31 “Unvested Shares” means any Restricted Shares that are not Awarded Shares. 
  

					
		  	-20-	  	April 2008Asset Purchase Agreement

 EXHIBIT 10.1 
 ASSET PURCHASE AGREEMENT 
 dated as of April 17, 2008 
 among 
 CREATIVE CATALOGS
CORPORATION, 
 as Purchaser, 
 and 
 REDENVELOPE, INC., 
 as Seller 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ASSET PURCHASE AGREEMENT
	  	1
		
	 ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION
	  	1
	 1.1
	 	 Definitions
	  	1
	 1.2
	 	 Rules of Construction
	  	8
		
	 ARTICLE II PURCHASE AND SALE; ASSUMPTION OF CERTAIN LIABILITIES
	  	8
	 2.1
	 	 Purchase and Sale of Assets
	  	8
	 2.2
	 	 Assignment and Assumption of Liabilities
	  	11
	 2.3
	 	 Excluded Assets
	  	11
	 2.4
	 	 No Other Liabilities Assumed
	  	12
	 2.5
	 	 Deemed Consents
	  	13
	 2.6
	 	 Obligations in Respect of Assumed Executory Contracts
	  	13
	 2.7
	 	 Post-Closing Assignment of Contracts
	  	13
		
	 ARTICLE III BASIC TRANSACTION
	  	13
	 3.1
	 	 Payment of Purchase Price
	  	13
	 3.2
	 	 Inventory Adjustment
	  	14
	 3.3
	 	 Further Assurances
	  	14
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER
	  	14
	 4.1
	 	 Seller’s Representations and Warranties
	  	14
	 4.2
	 	 Validity of Agreement
	  	15
	 4.3
	 	 Organization, Standing and Power
	  	15
	 4.4
	 	 No Conflicts
	  	15
	 4.5
	 	 No Consents
	  	15
	 4.6
	 	 Legal Proceedings
	  	16
	 4.7
	 	 Financial Statements
	  	16
	 4.8
	 	 Title to Property
	  	16
	 4.9
	 	 Brokers
	  	16
	 4.10
	 	 Intellectual Property
	  	16
	 4.11
	 	 Inventory
	  	17
	 4.12
	 	 Limitations
	  	17
	 4.13
	 	 Contracts
	  	17
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES OF PURCHASER
	  	18
	 5.1
	 	 Organization
	  	18
	 5.2
	 	 Authority
	  	18
	 5.3
	 	 No Conflicts or Violations
	  	18
	 5.4
	 	 Brokers
	  	18
	 5.5
	 	 Confidentiality
	  	18
	 5.6
	 	 Investigation
	  	19

					
	 5.7
	 	 No Other Representations or Warranties
	  	19
		
	 ARTICLE VI COVENANTS OF SELLER; OTHER AGREEMENTS
	  	19
	 6.1
	 	 Consents and Approvals
	  	19
	 6.2
	 	 Access to Information and Facilities
	  	20
	 6.3
	 	 Conduct of the Business Pending the Closing
	  	20
	 6.4
	 	 Notification of Certain Matters
	  	21
	 6.5
	 	 Further Assurances
	  	21
	 6.6
	 	 Bankruptcy Actions
	  	21
	 6.7
	 	 Exclusivity; Solicitation
	  	22
	 6.8
	 	 Confidentiality; Non-Disclosure
	  	23
	 6.9
	 	 Other Bids
	  	23
	 6.10
	 	 Excluded Assets and Liabilities
	  	23
	 6.11
	 	 Non-Seller Subsidiaries
	  	23
	 6.12
	 	 Taxes
	  	24
	 6.13
	 	 Payments
	  	24
		
	 ARTICLE VII COVENANTS OF PURCHASER
	  	24
	 7.1
	 	 Assumed Obligations
	  	24
	 7.2
	 	 Operation
	  	24
	 7.3
	 	 Further Assurances
	  	25
		
	 ARTICLE VIII CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER
	  	25
	 8.1
	 	 Warranties True as of Both Present Date and Closing Date; Covenants
	  	25
	 8.2
	 	 Bankruptcy Condition
	  	25
	 8.3
	 	 Material Adverse Change
	  	27
	 8.4
	 	 Litigation
	  	28
	 8.5
	 	 Approvals
	  	28
	 8.6
	 	 Closing Certificate
	  	28
		
	 ARTICLE IX CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER
	  	28
	 9.1
	 	 Warranties True as of Both Present Date and Closing Date
	  	28
	 9.2
	 	 Bankruptcy Court Approval
	  	28
	 9.3
	 	 Litigation
	  	28
	 9.4
	 	 Approvals
	  	29
	 9.5
	 	 Closing Deliveries
	  	29
		
	 ARTICLE X CLOSING
	  	29
	 10.1
	 	 Closing
	  	29
	 10.2
	 	 Deliveries by Seller
	  	29
	 10.3
	 	 Deliveries by Purchaser
	  	30
	 10.4
	 	 Form of Instruments
	  	30
		
	 ARTICLE XI TERMINATION; TERMINATION PAYMENT
	  	30
	 11.1
	 	 Termination
	  	30
	 11.2
	 	 Breakup Fee and Expense Reimbursement
	  	31
	 11.3
	 	 Effect of Termination or Breach
	  	32

					
		
	 ARTICLE XII ADDITIONAL POST-CLOSING COVENANTS
	  	33
	 12.1
	 	 Employees
	  	33
	 12.2
	 	 Joint Post-Closing Covenants of Purchaser and Seller
	  	33
	 12.3
	 	 Certain Consents
	  	33
	 12.4
	 	 Post-Closing Operation of Seller; Name Changes
	  	34
	 12.5
	 	 Accounts Receivable; Collections
	  	34
	 12.6
	 	 Tax Matters
	  	34
		
	 ARTICLE XIII MISCELLANEOUS
	  	34
	 13.1
	 	 Survival
	  	34
	 13.2
	 	 Expenses
	  	35
	 13.3
	 	 Amendment
	  	35
	 13.4
	 	 Notices
	  	35
	 13.5
	 	 Waivers
	  	36
	 13.6
	 	 Counterparts and Execution
	  	36
	 13.7
	 	 SUBMISSION TO JURISDICTION
	  	36
	 13.8
	 	 Governing Law
	  	36
	 13.9
	 	 Binding Nature; Assignment
	  	37
	 13.10
	 	 No Third Party Beneficiaries
	  	37
	 13.11
	 	 Construction
	  	37
	 13.12
	 	 Public Announcements
	  	37
	 13.13
	 	 Entire Understanding
	  	37
	 13.14
	 	 Closing Actions
	  	38
	 13.15
	 	 Conflict between Transaction Documents
	  	38

 SCHEDULES 
  

					
	 Schedule 2.1(a)(iv)
	  	-	  	 Assumed Executory Contracts

	 Schedule 2.3(e)
	  	-	  	 Additional Excluded Assets

	 Schedule 4.9
	  	-	  	 Brokers

	 Schedule 4.10
	  		  	 Intellectual Property

	 Schedule 6.3(d)(iv)
	  		  	 Employpees of Seller

 ASSET PURCHASE AGREEMENT 
 THIS ASSET PURCHASE AGREEMENT is made and entered into as of April 17, 2008, by and among Creative Catalogs Corporation, a Delaware corporation, or
its assignee (the “Purchaser”), and RedEnvelope, Inc., a Delaware corporation (the “Seller”). 
 In
consideration of the mutual covenants, agreements and warranties herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS AND RULES OF
CONSTRUCTION 
 1.1 Definitions. Unless otherwise defined herein, terms used herein shall have the meanings set forth below:

 “Acquired Assets” shall have the meaning set forth in Section 2.1(a) hereof. 
 “Affiliate” of any particular Person means any other Person controlling, controlled by or under common control with such
particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities or otherwise. 
 “Affiliated Group” means an affiliated group as defined in section 1504 of the Code (or any analogous combined,
consolidated or unitary group defined under state, local or foreign income Tax Law) of which Seller is or has been a member. 
 “Agreement” means this Asset Purchase Agreement, including all the Schedules hereto, as the same may be amended, modified or waived from time to time in accordance with its terms. 
 “Allocation” shall have the meaning set forth in Section 12.6 hereof. 
 “Alternative Transaction” means any transaction occurring after the Bidding Procedures Order is entered involving the
consummation of the sale pursuant to section 363(b) of the Bankruptcy Code of all or a material portion of the Business by the Seller to a purchaser or purchasers other than the Purchaser and/or one or more of its Affiliates at any time during the
pendency of the Chapter 11 Case. 
 “Assignment and Assumption” shall have the meaning set forth in
Section 10.2(b) hereof. 
 “Assumed Executory Contracts” means all Contracts and Leases
identified in Schedule 2.1(a)(iv). 
 “Assumed Obligations” shall have the meaning set forth in
Section 2.2(a) hereof. 

 “Assumed Post-Petition Obligations” shall have the meaning set forth in
Section 2.2(b). 
 “Auction” shall mean the auction conducted by Seller pursuant to the Bidding
Procedures Order and Section 8.2(d) hereof for substantially all of the Acquired Assets. 
 “Bankruptcy
Code” means Title 11 of the United States Code. 
 “Bankruptcy Court” means the United States
Bankruptcy Court for the Northern District of California, San Francisco Division. 
 “Bid” or
“Bids” shall have the meaning set forth in Section 6.9 hereof. 
 “Bidders”
shall have the meaning set forth in Section 6.9 hereof. 
 “Bidding Procedures Order” means the
order of the Bankruptcy Court, in the form reasonably acceptable to the Purchaser which includes, among other things, (i) the Breakup Fee, Expense Reimbursement and all other payments to Purchaser arising under this Agreement as obligations of
the Seller having super-priority as administrative expenses under section 364(c)(1) of the Bankruptcy Code in the Chapter 11 Case, (ii) Purchaser’s designation as the stalking horse bidder together with the provisions of this Agreement to
be performed by Seller before the Closing; (iii) obligations setting a deadline for the filing of objections to the entry of the Sale Order, (iii) scheduling the Auction in accordance with the terms of this Agreement, (iv) scheduling
the Sale Hearing, (v) providing for competitive bidding procedures pursuant to which competing offers may be solicited, made and accepted and containing the terms specified in Sections 8.2(d) and 11.2 hereof and (vi) approving
and implementing the provisions of Sections 6.6, 6.7, 8.2(d) and 11.2 hereof. 
 “Books and Records” means all records and lists of Seller including: (i) all merchandise, analysis reports, marketing reports and creative material pertaining to the Acquired Assets, the Facilities or the Business,
(ii) all records relating to past or present customers, suppliers or personnel of Seller (including customer lists, mailing address lists, e-mail address lists, recipient lists, sales records, correspondence with customers, customer files and
account histories, supply lists and records of purchases from and correspondence with suppliers and any other written or electronic identifiable data relating to past or present customers or suppliers of the Business or personnel of Seller which has
been created by Seller or its representatives, agents or employees), all records relating to all product, business and marketing plans of Seller, and (iii) all books, ledgers, files, reports, plans, drawings and operating records of every
kind of Seller; provided, however, “Books and Records” shall not include any records exclusively related to the Excluded Assets or Seller’s minute books, stock books and Tax Returns. 
 “Breakup Fee” shall have the meaning set forth in Section 8.2(d)(i) hereof. 
 “Business” means the business activities carried on by or on behalf of Seller. 
 “Chapter 11 Case” means the case commenced by Seller under chapter 11 of the United States Bankruptcy Code in the
Bankruptcy Court. 
  

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 “Claim” shall have the meaning set forth in section 101(5) of the
Bankruptcy Code. 
 “Closing” shall have the meaning set forth in Section 10.1 hereof.

 “Closing Date” shall have the meaning set forth in Section 10.1 hereof. 
 “Closing Date Inventory” shall have the meaning set forth in Section 3.2 hereof. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 
 “Confidentiality Agreement” means the Confidentiality Agreement, dated as of March 3, 2008, between Purchaser and
Seller. 
 “Contract” means any agreement, contract, commitment or other binding arrangement or
understanding, whether written or oral, to which Seller is a party and which Seller is permitted under the Bankruptcy Code and applicable law to assume and assign other than an Employee Benefit Plan. 
 “Copyright Assignment” means a copyright assignment in form and substance reasonably satisfactory to Purchaser.

 “DIP Amount” means the amounts, as of the date of the Closing, of all of Seller’s obligations to the
Lenders under the DIP Facility, including, without limitation, any obligations thereunder for unpaid interest, costs, fees, and expenses. 
 “DIP Facility” means the Loan Agreement (Debtor-in-Possession) dated on or about the date hereof, entered into by and among Seller, as borrower and a debtor in bankruptcy, the agents for the lenders
thereunder, and such other the parties thereto from time to time as lenders. 
 “Disclosure Schedules” shall
have the meaning set forth in Section 4.1 hereof. 
 “Dollars” or “$” means
dollars of the United States of America. 
 “Excluded Assets” shall have the meaning set forth in
Section 2.3 hereof. 
 “Excluded Contracts” shall have the meaning set forth in
Section 2.3(b) hereof. 
 “Excluded Environmental Liabilities” means any Liability or
investigatory, corrective or remedial obligation, arising under environmental Laws with respect to Seller or any predecessor or Affiliate of Seller, arising out of or relating to the operation, use or environmental condition of the Business, the
Acquired Assets or the Facilities prior to the Closing (including any arising from the on-site or off-site Release, threatened Release, treatment, storage, disposal, or arrangement for disposal of, or exposure to Hazardous Substances) whether or not
constituting a breach of any representation or warranty herein and whether or not set forth on any Disclosure Schedule. 
  

 3 

 “Excluded Liabilities” shall have the meaning set forth in
Section 2.4 hereof. 
 “Expense Reimbursement” shall have the meaning set forth in
Section 8.2(d)(i) hereof. 
 “Facilities” means collectively the premises at which Seller
operates the Business, namely (i) Seller’s corporate headquarters facility of approximately 28,000 square feet of office space located in San Francisco, California, (ii) Seller’s fulfillment center of approximately 240,000 square
feet located in Lockbourne, Ohio and (iii) Seller’s customer sales and service center of approximately 13,000 square feet located in San Diego, California. 
 “Final Order” means an Order as to which the time to file an appeal, a motion for rehearing or reconsideration or a
petition for writ of certiorari has expired and no such appeal, motion or petition is pending. 
 “GAAP”
means, at a given time, United States generally accepted accounting principles, consistently applied. 
 “Governmental
Authority” means any United States federal, state or local or any foreign government, governmental regulatory or administrative authority, agency or commission or any court, tribunal or judicial or arbitral body. 
 “Highest or Best Bid” shall have the meaning set forth in Section 8.2(d)(viii) hereof. 
 “Indebtedness” with respect to any Person means any obligation of such Person for borrowed money, and in any event shall
include (i) any obligation incurred for all or any part of the purchase price of property or other assets or for the cost of property or other assets constructed or of improvements thereto, other than accounts payable included in current
liabilities and incurred in respect of property purchased in the Ordinary Course of Business, (ii) the face amount of all letters of credit issued for the account of such Person, (iii) obligations (whether or not such Person has assumed or
become liable for the payment of such obligation) secured by Liens, (iv) capitalized lease obligations, (v) all guarantees and similar obligations of such Person, (vi) all accrued interest, fees and charges in respect of any
indebtedness and (vii) all prepayment premiums and penalties, and any other fees, expenses, indemnities and other amounts payable as a result of the prepayment or discharge of any indebtedness. 
 “Intellectual Property” means all of the following in any jurisdiction throughout the world: (i) inventions (whether
or not patentable or reduced to practice), all improvements thereto, and patents, patent applications and patent disclosures, together with all reissuances, continuations, continuations-in-part, revisions, extensions, reexaminations and counterparts
thereof; (ii) trademarks, service marks, trade dress, logos, slogans, trade names, internet domain names, corporate names and all other indicia of origin, together with all translations, derivations and combinations thereof, and together with
all goodwill associated therewith, and all applications, registrations and renewals in connection therewith; (iii) works of authorship (whether or not copyrightable), and copyrights, mask works and copyrightable works, and applications,
registrations and renewals in connection therewith; (iv) trade secrets, know-how and other confidential, proprietary or business information (including ideas, research and 

  

 4 

 
development, formulas, compositions, manufacturing, production and other processes and techniques, methods, designs, technical and other data, charts, plans,
diagrams, drawings and specifications, customer and supplier lists and business, marketing and other plans, studies and proposals); (v) computer software (including source code, executable code data, databases and documentation) and systems;
(vi) copies and tangible embodiments of any of the foregoing in whatever form or medium; (vii) all other intellectual property and proprietary rights; and (viii) the right to sue and recover for any past, present or future
infringement, misappropriation, dilution or any other causes of action, and to recover or collect any damages, proceeds, income, royalties or other payments in connection with or relating to any of the foregoing. 
 “Intellectual Property Assignments” means the Trademark Assignment and the Copyright Assignment. 
 “Inventory” means all inventory of any kind or nature owned by Seller, including all raw materials, work in process,
semi-finished and finished products, replacement and spare parts, packaging materials, operating supplies, and fuels and other and similar items. 
 “Knowledge of Seller” shall mean the actual knowledge of each of Seller’s Chief Executive Officer, Chief Financial Officer and Chief Marketing Officer. 
 “Law” means any law, statute, regulation, ruling, or Order of, administered or enforced by or on behalf of, any
Governmental Authority, or common law. 
 “Liability” means any liability (whether known or unknown, whether
asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due and regardless of when asserted), including any liability for Taxes. 
 “Lien” or “Liens” means any lien (statutory or otherwise), hypothecation, encumbrance, Claim, Liability,
security interest, interest, mortgage, pledge, restriction, charge, instrument, license, preference, priority, security agreement, easement, covenant, encroachment, option, right of recovery, Tax (including foreign, federal, state and local Tax),
Order of any Governmental Authority, of any kind or nature (including (i) any conditional sale or other title retention agreement and any lease having substantially the same effect as any of the foregoing, (ii) any assignment or deposit
arrangement in the nature of a security device, (iii) any claim based on any theory that Purchaser is a successor, transferee or continuation of Seller or the Business, and (iv) any leasehold interest, license or other right, in favor of a
Third Party or a Seller, to use any portion of the Acquired Assets), whether secured or unsecured, choate or inchoate, filed or unfiled, scheduled or unscheduled, noticed or unnoticed, recorded or unrecorded, contingent or non-contingent, material
or non-material, known or unknown. 
 “Material Adverse Change” or “Material Adverse Effect”
means any event, condition, development or effect that individually or in the aggregate with all other events, changes, conditions, developments and effects, is or is reasonably likely to be materially adverse to (i) the Acquired Assets and
Assumed Obligations or (ii) the ability of Seller to perform its obligations under this Agreement, provided, however, that none of the following shall be deemed in and of itself, either alone or in combination, to constitute, and none of the
following shall be 

  

 5 

 
taken into account in determining whether there has been or will be, a Material Adverse Change or a Material Adverse Effect: (a) the filing of the
Chapter 11 Case, (b) changes in economic conditions generally or in the industries in which Seller operates, except to the extent such changes have a disproportionate effect on Seller, (c) any change of Law, accounting standards or
regulatory policy, (d) changes or adverse conditions in the securities markets, including those relating to debt financing, except to the extent such changes have a disproportionate effect on Seller, and (e) any actions specifically
required to be taken pursuant to this Agreement. 
 “Order” means any decree, order, injunction, rule,
judgment, consent of or by any Governmental Authority. 
 “Ordinary Course of Business” means the operation
of the Business by Seller in the usual and ordinary course in a manner substantially similar to the manner in which Seller operated, consistent with past practice prior to the date hereof, subject to any obligations as a debtor under the Bankruptcy
Code or any order of the Bankruptcy Court. 
 “Permits” means licenses, permits, approvals, certificates of
occupancy, authorizations, operating permits, registrations, plans and the like. 
 “Permitted Liens” means
easements, covenants, conditions, restrictions and other similar matters of record on real property, leasehold estates or personalty that do not in any material respect detract from the value thereof and do not individually or in the aggregate in
any material respect interfere with the present use of the property subject thereto. 
 “Person” means any
corporation, partnership, joint venture, limited liability company, organization, entity, authority or natural person. 
 “Petition Date” means the date the Chapter 11 Case is commenced. 
 “Post-Petition Accounts
Payable” shall mean post-petition trade account payables incurred in the Ordinary Course of Business and other post-petition current Liabilities incurred in the Ordinary Course of Business. Post-Petition Accounts Payable shall not include
Liabilities arising from breach of contract, breach of warranty, tort, infringement or other violation of the rights of another Person (including any Intellectual Property rights), lawsuits or violation of Law. 
 “Post-Petition Employee Compensation” shall mean post-petition obligations with respect to any unpaid wages, salary,
unused vacation or sick leave earned and accrued (to the extent not paid) with respect to the Rehired Employees. 
 “Proceeding” means any claim, charge, complaint, dispute, demand, action, investigation, inquiry, audit, suit in equity or at Law, administrative, regulatory or quasi-judicial proceeding, arbitration, account, contribution,
and/or other causes of action of whatever kind or character. 
 “Purchase Price” shall have the meaning set
forth in Section 3.1(a) hereof. 
  

 6 

 “Purchase Price Protection” means bid protection as approved by the
Bankruptcy Court which shall require any competing initial bid from a Third Party purchaser (other than the stalking horse bidder) to exceed the Purchase Price by an amount equal to the Breakup Fee and Expense Reimbursement plus an amount not less
than $500,000 as shall be set forth in the Bidding Procedures Order. 
 “Purchaser” shall have the meaning
set forth in the preamble hereof. 
 “Qualifying Bid” shall have the meaning set forth in
Section 8.2(d)(vii) hereof. 
 “Rehired Employees” shall have the meaning set forth in
Section 12.1 hereof. 
 “Rule” or “Rules” means the Federal Rules of Bankruptcy
Procedure. 
 “Sale Hearing” means the hearing of the Bankruptcy Court to approve this Agreement and the
transactions contemplated herein. 
 “Sale Motion” shall have the meaning set forth in
Section 6.6(b) hereof. 
 “Sale Order” means the Final Order of the Bankruptcy Court, in form
reasonably acceptable to the Purchaser and to be filed with the Bankruptcy Court on or before two (2) business days before the Sale Hearing to be entered by the Bankruptcy Court pursuant to sections 363 and 365 of the Bankruptcy Code.

 “Schedules” means the schedules attached hereto (including the Disclosure Schedules). 
 “Seller” shall have the meaning set forth in the preamble hereof. 
 “Subsidiary” means, with respect to any Person, any corporation a majority of the total voting power of shares of stock
of which is entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof, or any partnership, limited liability company, association or other business entity a majority of the partnership or other similar ownership interest of which is at the time owned or controlled,
directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes of this definition, a Person is deemed to have a majority ownership interest in a partnership, limited liability company,
association or other business entity if such Person is allocated a majority of the gains or losses of such partnership, limited liability company, association or other business entity or is or controls the managing director or general partner of
such partnership, limited liability company, association or other business entity. 
 “Tax” and, with
correlative meaning, “Taxes” mean with respect to any Person (i) all federal, state, local, county, foreign and other taxes, assessments or other government charges, including any income, alternative or add-on minimum tax,
estimated gross income, gross receipts, sales, use, ad valorem, value added, transfer, capital stock franchise, profits, license, registration, recording, documentary, intangibles, conveyancing, gains, withholding, payroll, employment, social
security (or similar), unemployment, disability, excise, severance, stamp, occupation, premium, real property, personal property, unclaimed property, 

  

 7 

 
environmental or windfall profit tax, custom duty or other tax, governmental fee or other like assessment, charge, or tax of any kind whatsoever, together
with any interest, penalty, addition to tax or additional amount imposed by any Governmental Authority responsible for the imposition of any such tax (domestic or foreign) whether such Tax is disputed or not, (ii) Liability for the payment of
any amounts of the type described in clause (i) above relating to any other Person as a result of being party to any agreement to indemnify such other Person, being a successor or transferee of such other Person, or being a member of the same
affiliated, consolidated, combined, unitary or other group with such other Person, or (iii) Liability for the payment of any amounts of the type described in clause (i) arising as a result of being (or ceasing to be) a member of any
Affiliated Group (or being included (or required to be included) in any Tax Return relating thereto). 
 “Tax
Return” means any report, return, declaration, claim for refund or other information or statement relating to Taxes, including any schedules or attachments thereto and any amendments thereof. 
 “Third Party” means any Person other than Seller, Purchaser or any of their respective Affiliates. 
 “Trademark Assignment” means the trademark assignment in form and substance reasonably satisfactory to Purchaser.

 “Transaction Documents” means this Agreement, and all other agreements, instruments, certificates and
other documents to be entered into or delivered by any party in connection with the transactions contemplated to be consummated pursuant to this Agreement. 
 “WARN Act” means the Worker Adjustment and Retraining Notification Act, as amended. 
 1.2
Rules of Construction. Unless the context otherwise clearly indicates, in this Agreement: 
 (a) the singular includes
the plural; 
 (b) “includes” and “including” are not limiting; 
 (c) “may not” is prohibitive and not permissive; and 
 (d) “or” is not exclusive. 
 ARTICLE II 
 PURCHASE AND SALE; ASSUMPTION OF CERTAIN LIABILITIES 
 2.1 Purchase and Sale of Assets. 
 (a) Subject to the terms and conditions set forth in this Agreement, at the Closing, Seller shall sell, contribute, convey, assign, transfer and deliver to Purchaser, free and clear of all Liens, Claims, and other
interests and encumbrances (whether arising prior to or subsequent to 

  

 8 

 
the petition for the Chapter 11 Case) (except for the Assumed Obligations and Permitted Liens) to the fullest extent allowed by Law, and Purchaser shall
purchase, acquire and take assignment and delivery of, for the consideration specified in Section 3.1, all properties, assets, rights, titles and interests of every kind and nature, owned, licensed or leased by Seller (including indirect
and other forms of beneficial ownership) as of the Closing Date, whether tangible or intangible, real or personal and wherever located and by whomever possessed, including all of the following assets (all of the assets to be sold, assigned,
transferred and delivered to Purchaser hereunder herein called the “Acquired Assets”; provided, that the Acquired Assets shall not include the Excluded Assets retained by Seller pursuant to Section 2.3 ):

 (i) all billed and unbilled accounts, notes and credit card receivables (whether current or noncurrent) and all causes of
action specifically pertaining to the collection of the foregoing; 
 (ii) all promotional allowances and vendor rebates and
similar items; 
 (iii) all Intellectual Property, along with all goodwill associated therewith and the business symbolized
thereby, all income, royalties, products, proceeds, damages and payments due or payable to Seller as of the Closing or thereafter, including damages and payments for past, present or future infringements, misappropriations or other causes of actions
thereof, the right to sue and recover for past infringements, misappropriations or other causes of actions thereof and any and all corresponding rights that, now or hereafter, may be secured throughout the world and all copies and tangible
embodiments of any such Intellectual Property in Seller’s possession or control; 
 (iv) all of Seller’s rights
existing under the Assumed Executory Contracts (for the avoidance of doubt, a list of such Assumed Executory Contracts is set forth in Schedule 2.1(a)(iv)), as determined by Purchaser, to the extent that such Assumed Executory Contracts
(A) have been entered into after the petition for the Chapter 11 Case, (B) have been assumed prior to the date of this Agreement pursuant to an Order of the Bankruptcy Court or (C) are assumed by Seller pursuant to
Section 2.1(b); 
 (v) all safety deposit boxes, lock boxes and the like; 
 (vi) all owned machinery, equipment (including all transportation and office equipment), fixtures, trade fixtures, computer and
information technology equipment and related data, telephone systems and furniture owned by Seller wherever located, including all such items which are located in any Facility; 
 (vii) all Inventory; 
 (viii) all owned office supplies, production supplies, spare parts, other miscellaneous supplies, and other tangible property of any kind wherever located, including all property of any kind located in any building, office or other space
leased, owned or occupied by Seller or in any warehouse where any of Seller’s properties and assets may be situated; 
 (ix) all security deposits and advances and prepaid assets and other current assets including any Tax receivables and Tax refunds; 
  

 9 

 (x) all claims, including Claims, deposits, prepayments, warranties, guarantees, refunds,
reimbursements, causes of action, rights of recovery, rights of set-off and rights of recoupment of every kind and nature (whether or not known or unknown or contingent or non-contingent); 
 (xi) the right to receive and retain mail, accounts, notes and credit card receivables payments and other communications; 
 (xii) the right to bill and receive payment for products shipped or delivered and services performed but unbilled or unpaid as of the
Closing; 
 (xiii) all Books and Records; 
 (xiv) all advertising, marketing and promotional materials; 
 (xv) other than as set forth on Schedule 2.1(xv), all Permits, licenses, certifications and approvals from all permitting,
licensing, accrediting and certifying agencies, and the rights to all data and records held by such permitting, licensing and certifying agencies; 
 (xvi) all goodwill as a going concern and all other intangible properties; 
 (xvii) all
telephone numbers; 
 (xviii) all of Seller’s rights to be indemnified; 
 (xix) all rights to proceeds under insurance policies; and 
 (xx) all security deposits relating to Assumed Executory Contracts. 
 (b) Notwithstanding anything in this Agreement to the contrary, (i) Purchaser may revise Schedule 2.1(a)(iv) to eliminate or
add any Lease or Contract from Schedule 2.1(a)(iv) and exclude from or include in, as applicable, the definition of Assumed Executory Contracts such Lease or Contract by providing written notice to Seller up to three (3) Business Days
prior to the Sale Hearing and (ii) in the case of any such revision, Seller shall give notice to the other parties to any such Lease or Contract within twenty-four hours of such addition or elimination, and Seller shall use all reasonable
efforts to obtain any necessary Bankruptcy Court approval for the assumption and assignment to Purchaser of such additional Assumed Executory Contracts.
 (c) If Purchaser removes any real property lease from the list of Assumed Executory Contracts pursuant to the preceding Section 2.1(b) and simultaneously requests in writing that the Seller not immediately
reject any such real property lease, Purchaser shall have a total of one hundred and fifteen (115) days from the Petition Date to decide to take assignment of such lease(s) provided: (i) Purchaser shall be responsible for all rent and
other sums owing from the date of Closing by Seller under the particular lease until such lease is either assumed and assigned to Purchaser at Purchaser’s option (and following such assignment, such lease will be an Assumed Obligation hereunder
of Purchaser) or such lease is rejected by order of the Bankruptcy Court; (ii) Purchaser shall provide written notice to Seller of its intention to take 

  

 10 

 
assignment of the particular real property lease or its consent to the Seller’s rejection of the real property lease on or before the 115th day following the Petition Date, and in the absence of such written notice, on or after the 116th day, Seller may move to immediately reject such real property lease (provided that notwithstanding any failure of Purchaser to provide such notice, Purchaser shall be obligated for
all sums owing from the date of Closing under the leases until the date such leases are formally rejected). 
 (d) At any
time, Seller may immediately move to reject any Contract which is an Excluded Contract, and any real property lease which is an excluded contract where Seller has not received written notice from Purchaser pursuant to the terms of
Section 2.1(c) above, upon notice to Purchaser and Purchaser shall have the right to inform Seller up to fifteen (15) days following the date of the notice thereof to require the Seller to assume and assign such Excluded Contract to
Purchaser provided any applicable cure costs shall be borne by Purchaser. 
 2.2 Assignment and Assumption of Liabilities. 

(a) Subject to the terms and conditions set forth in this Agreement, including Section 2.4 hereto, Purchaser shall only
assume from Seller and thereafter be responsible for the payment, performance or discharge of the Liabilities and obligations of Seller under the Assumed Executory Contracts arising after the Closing (the “Assumed Obligations”).

 (b) Notwithstanding the foregoing provisions of Section 2.2(a), Purchaser may, in its sole discretion, elect to
assume all or any portion of the Post-Petition Accounts Payable or Post-Petition Employee Compensation by providing written notice to Seller at any time prior to the Closing, and any Post-Petition Accounts Payable or Post-Petition Employee
Compensation that are so assumed shall become Assumed Obligations hereunder (such assumed portions of the Post-Petition Accounts Payable and Post-Petition Employee Compensation, collectively the “Assumed Post-Petition Obligations”).
For the avoidance of doubt, (i) if Purchaser does not elect to assume any of the Post-Petition Accounts Payable or the Post-Petition Employee Compensation by providing such notice to Seller, all Post-Petition Accounts Payable and Post-Petition
Employee Compensation shall be Excluded Liabilities hereunder and shall be retained by Seller, and (ii) if Purchaser elects to assume only a portion of the Post-Petition Accounts Payable or Post-Petition Employee Compensation, only the portions
so assumed shall be Assumed Post-Petition Obligations and all other amounts of Post-Petition Accounts Payable or Post-Petition Employee Compensation shall be Excluded Liabilities and shall be retained by Seller. 
 (c) Section 2.2(a) shall not limit any claims or defenses Purchaser may have against any party other than Seller. The
transactions contemplated by this Agreement shall in no way expand the rights or remedies of any Third Party against Purchaser or Seller. 
 2.3 Excluded Assets. 
 Notwithstanding anything to the contrary in this Agreement, the following assets of Seller shall be
retained by Seller and are not being sold or assigned to Purchaser hereunder (all of the following are referred to collectively as the “Excluded Assets”): 
 (a) any and all rights under this Agreement and avoidance claims or causes of action arising under the Bankruptcy Code or applicable state
Law, including all rights and avoidance claims of Seller arising under chapter 5 of the Bankruptcy Code; 
  

 11 

 (b) all Contracts other than the Assumed Executory Contracts listed on Schedule
2.1(a)(iv) (taking into account any revisions to Schedule 2.1(a)(iv) made by Purchaser pursuant to Section 2.1(b)) (the “Excluded Contracts”); 
 (c) all cash (including checking account balances, certificates of deposit and other time deposits); 
 (d) all rights to proceeds under any director and officer liability insurance policies of Seller for claims arising prior to the Closing;

 (e) any asset set forth on Schedule 2.3(e); 
 (f) all assets maintained pursuant to or in connection with any Employee Benefit Plan; and 
 (g) any equity securities of any other issuer owned by Seller and any notes receivable issued by any shareholder of the Seller in
connection with the exercise of Seller’s stock options. 
 2.4 No Other Liabilities Assumed. 
 Seller acknowledges and agrees that pursuant to the terms and provisions of this Agreement, Purchaser will not assume, or in any way be liable or
responsible for, any Liability of Seller (including Liabilities relating to the pre-petition or post-petition operation of the Business, the Excluded Assets or to the Acquired Assets (and the use thereof) or any outstanding checks), whether relating
to or arising out of the Business, the Excluded Assets or the Acquired Assets or otherwise, other than the Assumed Obligations. In furtherance and not in limitation of the foregoing, except as specifically set forth in Section 2.2,
neither Purchaser nor any of its Affiliates shall assume, and shall not be deemed to have assumed, any Liability of any kind or nature whatsoever of Seller resulting from, arising out of, relating to, in the nature of, or caused by
(a) Indebtedness (other than Assumed Executory Contracts which are capitalized leases), (b) any Excluded Asset or Excluded Contract, (c) Taxes or escheat obligations of any kind or nature, (d) any Claim arising out of facts,
events, circumstances, actions or inactions occurring on or prior to the Closing, (e) any Employee Benefit Plan, (f) any Excluded Environmental Liabilities, (g) any employees of Seller who are not Rehired Employees, any former
employees or any retirees of Seller, or any dependents or beneficiaries thereof, (h) any breach of contract, breach of warranty, tort, infringement or other violation of the rights of another Person (including any Intellectual Property rights)
or any lawsuits or violations of Law, (i) any other obligation of Seller or any predecessor or Affiliate of Seller whatsoever or any ERISA Affiliate other than the Assumed Obligations, (j) any Liability or obligation with respect to gift
cards, gift certificates or the like, (k) any Liability of Seller arising under the WARN Act (whether prior to or after Closing), if any, including any such Liabilities arising out of or resulting in connection with the Closing and/or the
consummation of the transactions contemplated by this Agreement, or (l) any Post-Petition Accounts Payable or Post-Petition Employee Compensation (unless expressly assumed by Purchaser pursuant to Section 2.2(b) (collectively, any
such obligations, the “Excluded Liabilities”). 
  

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 2.5 Deemed Consents. 
 Seller shall request that by providing notice of its intent to assume and assign any Contract or Lease, that the Bankruptcy Court deem the non-debtor party to such Contract or Lease to have consented to the sale if,
and to the extent that, pursuant to the Sale Order or other Bankruptcy Court Order, Seller is authorized to assume and assign to Purchaser and Purchaser is authorized to accept such Assumed Executory Contracts pursuant to section 365 of the
Bankruptcy Code. 
 2.6 Obligations in Respect of Assumed Executory Contracts. 
 To the extent that any Assumed Executory Contract is subject to a cure pursuant to section 365 of the Bankruptcy Code, Seller shall be responsible for
such cure and pay any amounts related to such cure obligations; provided, however, that Seller shall be responsible for such cure and pay any amounts related to such cure obligations for any Contract or Lease that is added to Schedule
2.1(a)(iv) by Purchaser following the date of this Agreement (the “Cure Costs”). Purchaser shall be responsible for paying all costs and expenses accrued under any Assumed Executory Contract subsequent to the Closing Date.

 2.7 Post-Closing Assignment of Contracts. 
 With respect to any Contract which is not set forth on Schedule 2.1(a)(iv) and provided such Contract has not been rejected by Seller pursuant to section 365 of the Bankruptcy Code, upon written notice(s)
from Purchaser, as soon as practicable, Seller shall take all actions reasonably necessary to assume and assign to Purchaser pursuant to section 365 of the Bankruptcy Code any Contract(s) set forth in Purchaser’s notice(s), and any
applicable costs incurred subsequent to the Closing Date shall be borne by Purchaser. The covenant set forth in Section 2.7 shall survive the Closing, subject to the rights of Seller under Section 2.1(d). Notwithstanding
anything in this Agreement to the contrary, on the date any Contract is assumed and assigned to Purchaser pursuant to this Section 2.7, such Contract shall be deemed an Assumed Executory Contract and deemed scheduled on
Schedule 2.1(a)(iv) under the appropriate heading for all purposes under this Agreement. 
 ARTICLE III 
 BASIC TRANSACTION 
 3.1 Payment of
Purchase Price. 
 (a) In consideration of the sale, transfer, conveyance and assignment of the Acquired Assets to
Purchaser at the Closing, Purchaser shall pay in cash to Seller at the Closing $5,700,000 less any Closing Inventory Adjustment as provided in Section 3.2 below (the “Purchase Price”) less the DIP Amount
(the “Cash Consideration”), payable by wire transfer of immediately available funds to that account or accounts designated in writing by Seller. 
  

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 (b) In addition, the Purchaser shall assume the Assumed Obligations. 
 (c) Payments made pursuant to this Section 3.1 shall be allocated among the assets purchased in accordance with
Section 12.6. 
 3.2 Inventory Adjustment. 
 Immediately prior to the Closing Date, Seller and Purchaser shall take a physical inventory of all Inventory (the “Closing Date Inventory”). The Purchase Price shall be reduced for each dollar by
which: (a) the book value of the usable Closing Date Inventory is less than $8,200,000, (b) the book value of the non-usable Closing Date Inventory is less than $400,000 and (c) the book value of the gift wrap Closing Date Inventory
is less than $600,000. Book value of the Inventory shall be determined in accordance with Seller’s historical practices. Notwithstanding the foregoing, Buyer shall have the option, within its sole discretion, to waive its right to take a
physical inventory as provided above. 
 3.3 Further Assurances. 
 From time to time after the Closing and without further consideration, (a) upon the request of Purchaser, Seller shall execute and deliver such
documents and instruments of conveyance and transfer as Purchaser may reasonably request in order to consummate more effectively the purchase and sale of the Acquired Assets as contemplated hereby and to vest in Purchaser title to the Acquired
Assets transferred hereunder, or to otherwise more fully consummate the transactions contemplated by this Agreement, and (b) Purchaser, upon the request of Seller, shall execute and deliver such documents and instruments of contract or lease
assumption as Seller may reasonably request in order to confirm Purchaser’s Liability for the Assumed Obligations or otherwise to more fully consummate the transactions contemplated by this Agreement. 
 ARTICLE IV 
 REPRESENTATIONS AND
WARRANTIES OF SELLER 
 4.1 Seller’s Representations and Warranties. 
 Seller represents and warrants to Purchaser to the best of its Knowledge that the statements contained in this Article IV are correct and complete
as of the Closing Date, except as expressly set forth in the schedules relating to this Article IV (the “Disclosure Schedules”). The information disclosed in any numbered part of the Disclosure Schedule shall be deemed to
relate to and to qualify only the particular representation or warranty set forth in the corresponding numbered section in this Agreement and shall not be deemed to relate to or to qualify any other representation or warranty unless the
applicability of such disclosure to such other representation or warranty is reasonably apparent on its face. The mere listing (or inclusion of a copy) of a document or other item shall not be deemed adequate to disclose an exception to a
representation or warranty made herein (unless the representation or warranty has to do with the existence of the document or other item itself). 
  

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 4.2 Validity of Agreement. 
 Subject to any necessary authorization from the Bankruptcy Court, Seller has full power and authority to execute and deliver the Transaction Documents to
which it is a party and to consummate the transactions contemplated hereby and thereby. All Transaction Documents to which Seller is a party have been duly executed and delivered by Seller, except such Transaction Documents that are required by the
terms hereof to be executed and delivered by Seller after the date hereof, in which case such Transaction Documents will be duly executed and delivered by Seller at or prior to the Closing, and, subject to any necessary authorization from the
Bankruptcy Court, all Transaction Documents constitute, or will constitute, as the case may be, the valid and binding agreements of Seller, enforceable against Seller in accordance with their terms. 
 4.3 Organization, Standing and Power. 
 Seller is duly organized, validly existing and in good standing under the Laws of the State of Delaware and is qualified to do business in every jurisdiction in which it is required to be qualified. Subject to any necessary authorization
from the Bankruptcy Court, Seller has all requisite corporate power and authority to own, lease and operate its properties, to carry on the Business as now being conducted, to execute and deliver the Transaction Documents, subject to Bankruptcy
Court authorization and to perform its obligations thereunder, subject to applicable bankruptcy, reorganization, insolvency, moratorium and other Laws affecting creditors’ rights generally from time to time, and to general equitable principles.

 4.4 No Conflicts. 
 Subject to the approval of the Bankruptcy Court, including pursuant to the entry of the Sale Order, none of the execution, delivery or performance of this Agreement and the Transaction Documents by Seller will (a) conflict with or
result in a violation or breach of any of the terms, conditions or provisions of Seller’s Certificate of Incorporation or Bylaws, (b) result in the creation or imposition of any Lien upon any of the properties or assets of Seller, or
(c) result in a violation or breach of any term or provision of any Law or Order applicable to Seller, other than such violations or breaches which would not materially and adversely affect the validity or enforceability of this Agreement of
the Transaction Documents. 
 4.5 No Consents. 
 No consent, approval or action of, filing with or notice to any Governmental Authority is required to be obtained by Seller in connection with the execution, delivery and performance of this Agreement or any of the
Transaction Documents, or the consummation of the transactions contemplated hereby or thereby, except (a) for consents, approvals or actions of and filings with or notice to the Bankruptcy Court and (b) where the failure to obtain any such
consent, approval or action, to make any such filing or to give any such notice would not materially and adversely affect the ability of Seller to consummate the transactions contemplated by this Agreement or any of the Transaction Documents or to
perform its obligations hereunder or thereunder or have a Material Adverse Effect on the condition of the Business. 
  

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 4.6 Legal Proceedings. 
 Except as set forth on Schedule 4.6 and except for Claims that will be discharged pursuant to an Order of the Bankruptcy Court: 
 (a) Other than the Chapter 11 Case, there are no Proceedings pending or, to the Knowledge of Seller, threatened against, relating to or
affecting Seller with respect to the Business or any of the Acquired Assets which would (i) result in the issuance of an Order restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions
contemplated by this Agreement or any of the Transaction Documents, or (ii) have a Material Adverse Effect on the Business; and 
 (b) Except for Orders of the Bankruptcy Court, there are no Orders outstanding against Seller. 
 4.7 Financial Statements.

 Each of the consolidated financial statements of Seller for the fiscal years ended March 31, 2006 and March 31, 2007 and the
fiscal quarter ended December 31, 2007, as filed with the U.S. Securities and Exchange Commission (the “SEC”), have been prepared in all material respects in accordance with the published rules and regulations of the SEC
(including Regulation S-X) and in accordance with United States generally accepted accounting principles applied on a consistent basis throughout the periods indicated (except as otherwise stated in such financial statements, including the related
notes) and each fairly presents, in all material respects, the consolidated financial position, results of operations and cash flows of Seller as at the respective dates thereof and for the respective periods indicated therein, except as otherwise
set forth in the notes thereto (subject, in the case of unaudited statements, to normal and recurring year-end adjustments, none of which is material, individually or in the aggregate, to Seller). Seller has not, since December 31, 2007, made
any material change in the accounting practices or policies applied in the preparation of the above financial statements. 
 4.8 Title to
Property. 
 Subject to receipt of the approval of the Bankruptcy Court pursuant to the Sale Order, Seller has, or at the Closing will
have, the right to deliver to Purchaser good and marketable title to, or a valid leasehold interest in, all of the Acquired Assets free and clear of all liens, claims and interests (other than Permitted Liens). 
 4.9 Brokers. 
 Except as set forth on
Schedule 4.9, Seller has not incurred any Liability to any broker, finder or agent with respect to the payment of any commission regarding the consummation of the transactions contemplated hereby. 
 4.10 Intellectual Property. 
 Except
as set forth on Schedule 4.10, Seller (a) owns and possesses all right, title and interest in and to (or has the right to use pursuant to a license or other permission) the Intellectual 

  

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Property; (b) has no obligation to compensate any Person for the right to use any of the Intellectual Property (except, in the case of Intellectual
Property that is licensed, for obligations pursuant to the applicable license agreement); (c) has not granted to any Person any license, option or other similar rights in or to any of the Intellectual Property; (d) has not received any
written notice from any Person that challenges the validity or enforceability of any of the Intellectual Property; (e) has not received any notice from any Person challenging Seller’s ownership of, or right to use, any of the Intellectual
Property; and (f) to the Knowledge of Seller, no Person is infringing upon or has misappropriated any of the Intellectual Property. 
 4.11 Inventory. 
 The book value of the Inventory as of the date of this Agreement is not less than $7,000,000 in usable
Inventory, $1,500,000 in non-usable Inventory and $900,000 in gift wrap Inventory. The book value of the Inventory has been determined in accordance with Seller’s historical practices. 
 4.12 Limitations. 
 Except as
expressly provided herein or in the Sale Order approving this Agreement, the Purchaser agrees and acknowledges that all transfers of the Acquired Assets are “as is” and “where is”, and acknowledges and agrees that the Seller
makes no representation of any kind whatsoever with respect to the Acquired Assets or otherwise, express or implied, including but not limited to any representation or warranty regarding the title or condition of the Acquired Assets, or the fitness,
desirability, or the merchantability thereof or suitability thereof for any particular purpose, the current or future tax liability, assessment or valuation of any of the Acquired Assets, the compliance of any of the Acquired Assets in their current
or future state with applicable laws or the actual projected income or operating expense of the business or Acquired Assets. The Purchaser further acknowledges and represents that it has reviewed and inspected the Acquired Assets, has had the
opportunity to inspect the books and records of the Seller and the public filing records, and enters into this Agreement after independent investigation of the facts and circumstances relating to the Acquired Assets, the operations of the business
and the transactions described herein. 
 4.13 Contracts. 
 Seller has made available to Purchaser a correct and complete copy of each Assumed Executory Contract listed on Schedule 2.1(a)(iv) and each
Excluded Contract listed on Schedule 2.3(b), and such Contracts shall collectively include all of Seller’s material Contracts and Leases. In addition, all executory contracts of Seller existing as of the date hereof are included on
Schedule 2.1(a)(iv), Assumed Executory Contracts (other than any of Seller’s employment contracts and the financial consulting contract between Seller and Tatum LLC), and if any additional Contracts or Leases, that are not included on
Schedule 2.1(a)(iv), are determined after the date hereof to constitute executory contracts, Purchaser shall have the right, in its sole discretion, to add such Contract or Lease to Schedule 2.1(a)(iv) and shall not be responsible for
the Cure Costs in accordance with Section 2.6 above. 
  

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 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES OF PURCHASER 
 Purchaser represents and warrants to Seller as follows:

 5.1 Organization. 
 Purchaser is validly existing and in good standing under the Laws of the State of Delaware and has the full power and authority to execute, deliver and perform this Agreement and to consummate all transactions contemplated hereby.

 5.2 Authority. 
 The
execution, delivery and performance by Purchaser of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Purchaser and do not and will not violate any provisions
of its organizational documents, any applicable Law or any agreement or instrument by which it is bound or Order binding upon it. This Agreement constitutes a valid and binding agreement of Purchaser, enforceable against Purchaser in accordance with
its terms, subject to applicable bankruptcy, reorganization, insolvency, moratorium and other Laws affecting creditors’ rights generally from time to time in effect, and to general equitable principles. 
 5.3 No Conflicts or Violations. 
 The
execution, delivery and performance of the Transaction Documents and the consummation of the transactions contemplated thereby by Purchaser do not and shall not (a) conflict with or result in any breach of any of the terms, conditions or
provisions of, (b) constitute a default under, (c) result in a violation of, (d) give any Third Party the right to modify, terminate or accelerate any obligation under, or (e) require any authorization, consent, approval,
exemption or other action by or notice or declaration to, or filing with, any court or administrative or other Governmental Authority, under any agreement or instrument to which Purchaser is bound or affected, or any Law to which Purchaser is
subject or any Order to which Purchaser is subject. 
 5.4 Brokers. 
 Purchaser has incurred no Liability to any broker, finder or agent with respect to the payment of any commission regarding the consummation of the
transactions contemplated hereby. 
 5.5 Confidentiality. 
 In the event the transactions contemplated hereby are not consummated for any reason, without limiting the other rights and/or remedies of the parties,
the Purchaser shall comply with all of the terms and provisions of the Confidentiality Agreement, and shall promptly return to the Seller, or destroy, all documents and other materials and all copies of the foregoing that were furnished to the
Purchaser to date in connection with its due diligence investigation of the Seller, its assets or the Seller’s business, as provided therein. 
  

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 5.6 Investigation. 
 The Purchaser has or will make its own investigation concerning the physical condition of the Acquired Assets and the business, the condition of title or any other matter pertaining to the Acquired Assets; and, other
than the specific representations made by the Seller pursuant to this Agreement, the Purchaser is not relying on any representations, warranties or inducements of the Seller (or any agent of the Seller) with respect to the physical condition of the
Acquired Assets, the condition of title to the Acquired Assets or any other matter pertaining to the Acquired Assets or related business. 
 5.7 No Other Representations or Warranties. 
 Except for the representations and warranties and covenants contained in this
Agreement, Purchaser does not make any other express or implied representation or warranty with respect to the transactions contemplated hereby, and Purchaser disclaims any other representations or warranties, whether made by it or any of its
Affiliates, officers, directors, employees, agents or representatives. 
 ARTICLE VI 
 COVENANTS OF SELLER; OTHER AGREEMENTS 
 6.1 Consents and Approvals. 
 (a) Seller and the Purchaser shall, at Seller’s sole cost and expense, use
commercially reasonable efforts (i) to obtain all necessary consents and approvals, as reasonably requested by Purchaser, to consummate the purchase and sale of the Acquired Assets and the assignment of the Assumed Obligations, together with
any other necessary consents and approvals to consummate the transactions contemplated hereby, including obtaining the Bidding Procedures Order and Sale Order, (ii) to make, as reasonably requested by Purchaser, all filings, applications,
statements and reports to all authorities that are required to be made prior to the Closing Date by or on behalf of Seller or any of its Affiliates pursuant to any applicable Law in connection with this Agreement and the transactions contemplated
hereby and (iii) to obtain, as requested by Purchaser, all required consents and approvals (if any) necessary to assign and transfer Seller’s Permits to Purchaser at Closing and, to the extent that one or more of Seller’s Permits are
not transferable, to assist Purchaser in obtaining replacements therefor. In the event that certain of Seller’s Permits, or any Contract or other license or agreement necessary for the operation of the Business as presently conducted are not
transferable or replacements therefor are not obtainable on or before the Closing, but such Permits, Contracts or other licenses or agreements are obtainable after the Closing, Seller shall continue to use such commercially reasonable efforts in
cooperation with Purchaser after the Closing as may be required to obtain all required consents and approvals to transfer, or obtain replacements for, such Permits, Contracts or other licenses or agreements after Closing and shall do all things
necessary to give Purchaser the benefits that would be obtained under such Permits, Contracts or other licenses or agreements, in each case at Seller’s sole cost and expense. 
  

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 (b) Each of the parties shall give any other notices to, make any other filings with, and
use reasonable best efforts to obtain, any other authorizations, consents and approvals of any Governmental Authority in connection with the matters contemplated by this Agreement. 
 6.2 Access to Information and Facilities. 
 Seller agrees that, prior to the Closing Date, Purchaser and its representatives (including its accountants, advisors, consultants and legal counsel) shall, upon reasonable notice and so long as such access does not unreasonably interfere
with the business operations of Seller, have reasonable access during normal business hours to all Facilities and shall be entitled to make such reasonable investigation of the properties, businesses and operations of Seller (including any
environmental audits and investigations or to conduct a physical inventory of the Inventory) and such examination of the Books and Records and financial condition of Seller as it reasonably requests and to make extracts and copies to the extent
necessary of the Books and Records; provided, that Purchaser shall not conduct any soil sampling or similarly invasive environmental testing and shall be bound by and shall comply with the terms of the Confidentiality Agreement with respect
to Purchaser’s ability to use or disclose any such information. Prior to the Closing Date, within 15 days after the end of each calendar month, Seller shall provide the Purchaser with Seller’s interim monthly and year-to-date financial
statements for such month which shall include those parts of the internal management reports as requested by the Purchaser relating to such calendar month. Such interim financial statements shall (a) fairly present the financial condition of
Seller as of the respective dates thereof and the results of operations and cash flows for the periods covered thereby (subject to changes resulting from normal year-end adjustments for recurring accruals (which shall not be material individually or
in the aggregate) and to the absence of footnote disclosure) and (b) be in accordance with the Books and Records (which shall be accurate and complete). 
 6.3 Conduct of the Business Pending the Closing. 
 Except as otherwise expressly contemplated by this
Agreement, from the date hereof until the Closing Date, Seller shall: (a) conduct the Business in the Ordinary Course of Business; (b) use commercially reasonable efforts to preserve intact the Business, to keep available the services of
its current employees and agents and to maintain its relations and goodwill with its suppliers, customers, distributors and any others with whom or with which it has business relations; (c) maintain and operate the Acquired Assets in the
Ordinary Course of Business and repair and continue normal maintenance, normal wear and tear expected; (d) continue to operate the Business in all material respects in compliance with all Laws applicable to Seller or the Business;
(d) continue to (i) conduct the Business, (ii) operate the billing and collection policies and procedures with respect to the Business, (iii) maintain the books and records of the Business in the Ordinary Course of Business
(iv) maintain the employees of Seller as set forth on Schedule 6.3; (e) promptly advise Purchaser in writing of the occurrence of any event that has had, or is reasonably expected to have, a Material Adverse Effect; (f) not
sell, lease transfer, mortgage, encumber, alienate or dispose of the Acquired Assets; (g) not institute new methods of accounting that will vary materially from the methods used by Seller as of the date of this Agreement except as may be
required by GAAP; (h) not enter into any Contract or purchase order not in the Ordinary Course of Business; (i) not sell Inventory (A) other than in the Ordinary Course of Business, (B) at a discount other than discounts
consistent with past practice, 

  

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not to exceed 25% with respect to any item (excluding the 172 items (i.e., not units) marketed on the “Clearance Sale” webpage of the Seller as of
the date hereof and up to 50 additional items (i.e., not units) which may be identified in the Seller’s sole discretion), (C) in bulk; and (j) not take any action inconsistent with this Agreement or with the consummation of the
Closing. 
 6.4 Notification of Certain Matters. 
 (a) Seller shall give notice to Purchaser, within twenty-four (24) hours of Seller’s Knowledge of the occurrence of the event
giving rise to a notice obligation pursuant to this Section 6.4(a), of (i) the occurrence or nonoccurrence of any event that causes or would be likely to cause, directly or indirectly, any Material Adverse Effect on Seller, or
(ii) any material failure of Seller to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it hereunder. Notwithstanding the foregoing, the delivery of any notice pursuant to this
Section 6.4(a) shall not (x) be deemed to amend or supplement any of the Disclosure Schedules, (y) be deemed to cure any breach of any representation, warranty covenant or agreement or to satisfy any condition or (z) limit
or otherwise affect the remedies available hereunder to the party receiving such notice. 
 (b) Seller shall add Purchaser,
and Purchaser’s counsel, to Seller’s so-called “Rule 2002 notice list” and otherwise provide notice to Purchaser of all matters that are required to be served on Seller’s creditors pursuant to the Bankruptcy Code and
Rules. 
 6.5 Further Assurances. 
 Purchaser and Seller shall each execute all documents and take all actions as may be reasonably required to carry out the provisions of this Agreement and the transactions contemplated hereby. Purchaser and Seller shall each use
commercially reasonable efforts to fulfill or obtain the fulfillment of the conditions set forth in Article VIII and Article IX, respectively, of this Agreement. 
 6.6 Bankruptcy Actions. 
 (a) As soon as practicable after the execution of this
Agreement (and in no event later than one (1) business day thereafter), Seller shall make all filings necessary to commence the Chapter 11 Case in the Bankruptcy Court. Within two (2) business days after the execution of this Agreement,
Seller shall file and serve a motion (together with supporting papers and with proper notice thereof on interested parties as required by the Bankruptcy Code and Rules) seeking entry of the Bidding Procedures Order on the Bankruptcy Court’s
docket, which order will set a date for the Auction such that not less than the statutory notice of such Auction is provided and so as to allow Third Parties a meaningful opportunity to present an overbid. Seller shall seek a hearing in the
Bankruptcy Court to approve entry of the Bidding Procedures Order on shortened notice no later five (5) Business Days after the date of commencement of the Chapter 11 Case. 
 (b) As soon as practicable following entry of the Bidding Procedures Order, Seller shall file with the Bankruptcy Court one or more
motions seeking to approve the transaction contemplated hereby (collectively, the “Sale Motion”), which motion shall seek the Bankruptcy Court’s approval of this Agreement, Seller’s performance under this Agreement and

  

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the assumption and the assignment of the Assumed Executory Contracts (and to the extent contested by a Contract counterparty, Purchaser’s providing
evidence thereof), pursuant to section 365 of the Bankruptcy Code. Purchaser shall take such actions as are reasonably requested by Seller to assist Seller in obtaining a finding by the Bankruptcy Court that the Purchaser is deemed to have purchased
the Acquired Assets in good faith pursuant to section 363(m) of the Bankruptcy Code and that it has the necessary qualifications to show adequate assurance of future performance with respect to the Assumed Executory Contracts as required by section
365 of the Bankruptcy Code. 
 (c) A list of the Assumed Executory Contracts (as set forth on Schedule 2.1(a)(iv))
shall be filed as an exhibit to the Sale Motion if required by the Bankruptcy Court and otherwise shall be described in sufficient detail to provide adequate notice to the non-debtor party to such contracts. Upon revision of Schedule
2.1(a)(iv) by Purchaser pursuant to Section 2.1(b), Seller shall add any Assumed Executory Contracts to the exhibit or remove Assumed Executory Contracts from the exhibit, as applicable. Such exhibit shall set forth the amounts
necessary to cure defaults under each of such Assumed Executory Contracts as determined by Seller based on the Books and Records. In cases in which Seller is unable to establish that a default exists, the relevant cure amount shall be set at $0.00.

 (d) Seller will provide Purchaser with a reasonable opportunity to review and comment upon the proposed form of the Bidding
Procedures Order and the Sale Order. 
 6.7 Exclusivity; Solicitation. 
 (a) Purchaser and Seller acknowledge that under the Bankruptcy Code the sale of Acquired Assets is subject to approval of the Bankruptcy
Court. Purchaser and Seller acknowledge that to obtain such approval Seller must demonstrate that is has taken reasonable steps to obtain the highest or best price possible for the Acquired Assets, including giving notice of the transactions
contemplated by this Agreement to creditors and other interested parties as ordered by the Bankruptcy Court, providing information about the Acquired Assets to responsible bidders, entertaining higher or better offers from responsible bidders and,
if necessary, conducting an Auction. 
 (b) Seller represents that, other than the transactions contemplated by this
Agreement, Seller is not a party to or bound by any agreement with respect to a possible merger, sale, restructuring, refinancing or other disposition of all or any material part of the Business or the Acquired Assets. 
 (c) Seller acknowledges it has solicited other potential bids for the sale of the Business through the date of this Agreement. Pursuant to
such efforts, and as consideration for substantial expenditures of time, effort and expense undertaken and continuing by the Purchaser in connection with the completion of its due diligence review of the business and the preparation, negotiation,
and execution of this Agreement, Seller acknowledges and agrees that (i) the Purchaser shall be the stalking horse bidder at the Auction, (ii) no Person other than the Purchaser shall be the stalking horse bidder at the Auction and Seller
shall not participate in any negotiations for the purpose of naming any Person other than the Purchaser as the stalking horse bidder in the Auction, and (iii) Seller shall actively oppose any effort by any other Person to be 

  

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the stalking horse bidder; provided that consistent with its fiduciary duties to elicit the highest and best offer for the Acquired Assets and to
conduct the Auction, Seller may solicit, encourage and negotiate higher or better offers for the Acquired Assets under the terms of the Bidding Procedures Order, and provided further that Seller may (A) in response to an acquisition
proposal for some or all of the Acquired Assets that was not solicited after the date hereof, participate in negotiations or discussions with, request clarifications from, or furnish information to, any person which makes such acquisition proposal,
and (B) continue discussions and negotiations and continue to provide information to any person, group or other entity with which Seller has been conducting such discussions or negotiations. 
 6.8 Confidentiality; Non-Disclosure. 
 Seller acknowledges and agrees that any materials developed by Purchaser or any of its representatives (including its accountants, advisors, environmental, labor, employee benefits and any other consultants, lenders and legal counsel) are
the property of Purchaser and are confidential, shall be maintained as confidential by Seller and shall not be disclosed to any other Person. In the event Seller is required to disclose any such confidential information by Law or regulation as
advised by counsel, or as may be necessary or appropriate in connection with the Chapter 11 Case, Seller shall promptly notify Purchaser in writing, which notification shall include the nature of the legal requirement and the extent of the required
disclosure, and shall cooperate with Purchaser to obtain a protection order and otherwise preserve the confidentiality of such information consistent with applicable Law. Information subject to the confidentiality obligations in this
Section 6.8 does not include any information which (x) at the time of disclosure is generally available to or known by the public (other than as a result of its disclosure in breach of this Agreement) or (y) becomes available
on a non-confidential basis from a Person who is not bound by a confidentiality agreement with the Purchaser or its Affiliates or who is not otherwise prohibited from transmitting the information 
 6.9 Other Bids. 
 Purchaser
acknowledges that both before and after entry of the Bidding Procedures Order on the Bankruptcy Court’s docket, Seller may solicit bids (“Bids”) from other prospective purchasers (collectively, “Bidders”) for
the sale of all or substantially all of the Acquired Assets, on terms and conditions substantially the same in all respects to this Agreement (or improved terms) and in accordance with the procedures set forth in the Bidding Procedures Order and
Section 8.2(d) below. 
 6.10 Excluded Assets and Liabilities. 
 Subsequent to the Closing, Seller agrees to indemnify, defend, protect, and save and hold Purchaser harmless with respect to the Excluded Assets and
Excluded Liabilities. Seller’s obligations under this section shall be an administrative expense priority obligation under section 507(a)(2) of the Bankruptcy Code. 
 6.11 Non-Seller Subsidiaries. 
 To the extent that any Affiliate of Seller owns any property, assets,
rights, titles or interests of any kind and nature which are or were heretofore used primarily in connection with the Business (other than the type of assets of any Affiliate of Seller described in Section 2.3(a)), Seller hereby
covenants that it will (and it will cause its Affiliates to), from time to time, prior to or subsequent to the Closing, without further consideration, do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered,
all further acts, conveyances, transfers, assignments and assurances as reasonably may be required to convey or transfer to Purchaser any such property, assets, rights, titles or interests free and clear of all Liens and Liabilities. 
  

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 6.12 Taxes. 
 (a) On or prior to the Closing (or after the Closing when due and payable, to the extent such Taxes are due and payable after the
Closing), Seller shall pay all sales taxes, use taxes, payroll taxes, and Taxes which will be owed by Seller and attributable to periods prior to the Closing. 
 (b) Any sales, use, purchase, transfer, franchise, deed, fixed asset, stamp, documentary stamp, use or other Taxes and recording charges
due and which may be payable by reason of the sale of the Acquired Assets or the assumption of the Assumed Obligations under this Agreement or the transactions contemplated herein shall be borne and timely paid by Seller, and Seller shall prepare
and timely file all Tax Returns required to be filed in connection with such payments. 
 (c) Seller shall indemnify, defend
(with counsel reasonably satisfactory to Purchaser), protect, and save and hold Purchaser harmless from and against any and all Claims, charges, interest or penalties assessed, imposed or asserted in relation to Seller’s obligations under this
Section 6.12. 
 6.13 Payments. 
 Notwithstanding any indemnification provision herein by Seller, Seller will be permitted to (a) make payments in the ordinary course of business or as authorized by the Bankruptcy Court and the Purchaser will
have no right of recourse against such payments, and (b) to obtain an order closing the Chapter 11 Case. 
 ARTICLE VII

 COVENANTS OF PURCHASER 
 7.1 Assumed Obligations. 
 Subsequent to the Closing, Purchaser agrees to be responsible for the payment and performance of
the Assumed Obligations. 
 7.2 Operation. 
 Purchaser shall be obligated to discharge, pay, perform and satisfy all of the duties, liabilities and obligations arising, from and after the Closing, from the ownership, maintenance, operation, use, development,
sale or leasing of, or other operation of business with respect to the Acquired Assets and the Assumed Executory Contracts. 
  

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 7.3 Further Assurances. 
 Purchaser shall execute such documents and take such further actions as may be reasonably required to carry out the provisions of this Agreement and the
transactions contemplated hereby. Purchaser shall use commercially reasonable efforts to fulfill or obtain the fulfillment of the conditions set forth in Article IX of this Agreement. 
 All of Purchaser’s covenants set forth in this Article VII and under Article XII shall survive the Closing. 
 ARTICLE VIII 
 CONDITIONS PRECEDENT
TO OBLIGATIONS OF PURCHASER 
 The obligations of Purchaser under this Agreement are, at the option of Purchaser, subject to satisfaction
of the following conditions precedent on or before the Closing Date. 
 8.1 Warranties True as of Both Present Date and Closing Date;
Covenants. 
 (a) All of the representations and warranties of Seller shall be true and correct in all material respects
on and as of the Closing Date (except for representations and warranties made as of a specified date, which shall be true and correct as of that date) with the same force and effect as though made on and as of the Closing Date. 
 (b) Seller shall have performed and complied in all material respects with the obligations and covenants required by this Agreement to be
performed or complied with by Seller on or prior to the Closing Date. 
 8.2 Bankruptcy Condition. 
 (a) The Bidding Procedures Order shall have been entered on the docket by the Clerk of the Bankruptcy Court as soon as practicable and no
later than ten (10) days after the date of commencement of the Chapter 11 Case or as soon thereafter as the Bankruptcy Court’s schedule permits. The Sale Order shall have been entered on the docket by the Clerk of the Bankruptcy Court on
or before forty-five (45) days following the date of this Agreement. 
 (b) The Sale Order shall approve and authorize
the assumption and assignment of the Assumed Executory Contracts and the Assumed Executory Contracts shall have been actually assumed and assigned to Purchaser such that the Assumed Executory Contracts will be in full force and effect from and after
the Closing with non-debtor parties being barred and enjoined from asserting against Purchaser, among other things, defaults, breaches or claims (including, without limitation, cure claims under section 365 of the Bankruptcy Code, except as
otherwise specifically provided in the Sale Order) existing as of the Closing or by reason of the Closing. 
 (c) The
Bankruptcy Court shall have entered an order, binding on all parties in interest in the Chapter 11 Case (which may be the Sale Order) allowing a Claim by Purchaser in the Chapter 11 Case in an amount equal to the DIP Amount as a super-priority
obligation under section 364(c)(1) of the Bankruptcy Code (subordinate to trustee and professional fees as 

  

 25 

 
provided in the separate DIP agreement), and, in each case, authorizing and approving the credit bid by Purchaser of the DIP Amount as contemplated by this
Agreement pursuant to section 363(k) of the Bankruptcy Code. 
 (d) The Bidding Procedures Order shall provide, among other
things, that: 
 (i) upon the first to occur of (A) the date Seller consummates an Alternative Transaction, (B) the
date Seller files a chapter 11 plan contemplating the sale or retention of the Acquired Assets by Seller in a manner substantially inconsistent with the terms of this Agreement, or (C) the confirmation of a plan of reorganization of Seller by
the Bankruptcy Court that does not contemplate the transactions contemplated by this Agreement, Seller shall immediately (x) pay (in cash) to Purchaser a breakup fee equal to five percent (5%) of the Purchase Price (the “Breakup
Fee”) and (y) reimburse Purchaser (in cash) for all reasonable out-of-pocket costs and expenses (including reasonable attorneys’ fees and expenses) incurred by Purchaser in connection with the Bankruptcy Case and the negotiation,
execution and delivery of this Agreement up to an aggregate amount of two percent (2%) of the Purchase Price (“Expense Reimbursement”); 
 (ii) Seller is authorized without further Bankruptcy Court action to pay any amounts that become due and payable to Purchaser pursuant to
this Agreement (including, without limitation, the Breakup Fee and Expense Reimbursement) and that pursuant to section 507(a)(2) of the Bankruptcy Code, Purchaser shall have an allowed administrative expense priority claim for such amounts;

 (iii) Credit the portion of the DIP Amount due and payable under section 363(k) of the Bankruptcy Code; 
 (iv) no party submitting any other offer to purchase the Acquired Assets or a Qualifying Bid shall be entitled to any expense
reimbursement, breakup, or termination or similar fee or payment; 
 (v) prior to receipt by a prospective Bidder of any
non-public information (including, without limitation, business and financial non-public information and access to representatives of Seller) from Seller, each Bidder will be required to execute an appropriate confidentiality agreement; 

(vi) as part of any Bid, each Bidder shall submit a copy of this Agreement marked to show changes, along with any other bid package
requirements to Seller and Purchaser, and place into escrow a cash deposit of no less than $100,000; 
 (vii) (A) an initial
Bid will not be considered by Seller as qualified for the Auction unless such Bid is for an amount equal to or greater than the aggregate of the sum of (I) Purchase Price; and (II) the Purchase Price Protection; (B) any overbid Bids
thereafter must be higher than the then existing lead Bid in increments of not less than $100,000 in cash; provided, however, any overbid Bids by Purchaser thereafter shall only be required to be equal to the sum of: (I) the then
existing lead Bid plus (II) $100,000 less (III) the dollar value of the Breakup Fee and Expense Reimbursement; and (C) a higher Bid will not be considered by Seller as qualified for the Auction if: (I) such Bid
contains financing or due diligence contingencies of 

  

 26 

 
any kind; (II) such Bid is not received by Seller and Purchaser in writing on or prior to the third (3rd) day prior to the Auction; or
(IV) such Bid does not contain evidence that the Person submitting it has received debt and/or equity funding commitments or available cash sufficient in the aggregate to finance the purchase contemplated thereby, including proof of deposit
into escrow of no less than $100,000 in cash (each Bid which meets the foregoing criteria constitutes, as applicable, a “Qualifying Bid”); 
 (viii) if one or more Qualifying Bids are submitted in accordance with the Bidding Procedures Order, Seller will conduct the Auction as set forth in this Agreement. At the Auction, Seller shall have the right to
select the highest or best Bid from Purchaser and any Person who submitted a Qualifying Bid pursuant to Section 8.2(d)(vii) (the “Highest or Best Bid”), which will be determined by considering, among other things:
(A) the number, type, and nature of any changes to this Agreement requested by each Bidder; (B) the extent to which such modifications are likely to delay closing of the sale of the Acquired Assets and the cost to Seller of such
modifications or delay; (C) the total consideration to be received by Seller; (D) the likelihood of the Bidder’s ability to close a transaction and the timing thereof; and (E) the net benefit to the estate, taking into account
Purchaser’s rights to the Breakup Fee and Expense Reimbursement; 
 (ix) at the Auction, Purchaser shall have the right
to: (A) submit further Bids along with a markup of this Agreement and (B) at any time, request that Seller announce, subject to any potential new Bids, the then current Highest or Best Bid and, to the extent Purchaser requests, use
reasonable efforts to clarify any and all questions Purchaser may have regarding Seller’s announcement of the then current Highest or Best Bid; 
 (x) unless otherwise agreed to by Purchaser, only the Persons who submitted Qualified Bids, the Purchaser, Seller’s pre-petition and post-petition lenders, any official committee appointed in the Chapter 11 Case,
and the United States Trustee may participate in the Auction; and 
 (xi) Seller shall not contest any argument by Purchaser
that it has standing to contest the Highest or Best Bid selected by Seller. 
 (e) Notwithstanding Sections 8.2(a) and
10.1, nothing in this Agreement shall preclude Purchaser or Seller from consummating the transactions contemplated herein if Purchaser, in its sole discretion, waives the requirement that the Sale Order or any other Order shall have become
Final Orders. No notice of such waiver of this or any other condition to Closing need be given except to Seller’s pre-petition and post-petition lenders, any official committee appointed in the Chapter 11 Case, and the United States Trustee, it
being the intention of the parties hereto that Purchaser shall be entitled to, and is not waiving, the protection of section 363(m) of the Bankruptcy Code, the mootness doctrine and any similar statute or body of Law if the Closing occurs in the
absence of Final Orders. 
 8.3 Material Adverse Change. 
 There shall not have occurred a Material Adverse Change since the date of this Agreement. 
  

 27 

 8.4 Litigation. 
 No Order shall have been entered that restrains or prohibits the consummation of the transactions contemplated by this Agreement. 
 8.5 Approvals. 
 All authorizations, consents, filings and approvals necessary to permit Seller to
perform the transactions contemplated hereby shall have been duly obtained, made or given, shall be in form and substance reasonably satisfactory to Purchaser, shall not be subject to the satisfaction of any condition that has not been satisfied or
waived and shall be in full force and effect. All terminations or expirations of waiting periods (and any extension thereof) imposed by any Governmental Authority necessary for the transactions contemplated under this Agreement, if any, shall have
occurred. 
 8.6 Closing Certificate. 
 Seller shall have delivered to Purchaser a certificate signed by Seller, dated the date of the Closing Date (in form and substance reasonably satisfactory to Purchaser), certifying that the conditions specified in
Sections 8.1 and Section 8.3 have been satisfied as of the Closing. 
 ARTICLE IX 
 CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER 
 The obligations of Seller under this Agreement are, at the option of Seller, subject to the satisfaction of the following conditions precedent on or before the Closing Date. 
 9.1 Warranties True as of Both Present Date and Closing Date. 
 The representations and warranties of Purchaser contained herein shall be true and correct in all material respects on and as of the Closing Date (except for representations and warranties made as of a specified date,
which shall be true and correct as of that date in all material respects) with the same force and effect as though made by Purchaser on and as of the Closing Date, except those qualified by materiality shall be true and correct in all respects.
Purchaser shall have performed and complied in all material respects with the obligations and covenants required by this Agreement to be performed or complied with by Purchaser on or prior to the Closing Date. 
 9.2 Bankruptcy Court Approval. 
 The
Bankruptcy Court shall have entered an order approving of the execution of this Agreement by Seller and of the consummation by Seller of the transactions contemplated hereby that is not subject to Rules 6004(h) and 6006(d) of the Federal Rules
of Bankruptcy Procedure. 
 9.3 Litigation. 
 No action, suit or other proceedings shall be pending before any Governmental Authority seeking or threatening to restrain or prohibit the consummation of the transactions contemplated by this Agreement, or involving
a claim that consummation thereof would result in the violation of any Law. 
  

 28 

 9.4 Approvals. 
 All authorizations, consents, filings and approvals necessary to permit Purchaser to perform the transactions contemplated hereby shall have been duly obtained, made or given, shall be in form and substance reasonably
satisfactory to Seller, shall not be subject to the satisfaction of any condition that has not been satisfied or waived and shall be in full force and effect. All terminations or expirations of waiting periods (and any extension thereof) imposed by
any Governmental Authority necessary for the transactions contemplated under this Agreement, if any, shall have occurred. 
 9.5 Closing
Deliveries. 
 Purchaser shall have delivered to Seller a certificate signed by Purchaser, dated the date of the Closing (in form and
substance reasonably satisfactory to Seller) certifying that the conditions specified in Section 9.1 above have been satisfied as of the Closing. 
 ARTICLE X 
 CLOSING 
 10.1 Closing. 
 Upon the terms and
subject to the satisfaction of the conditions contained in this Agreement, the closing of the transaction contemplated by this Agreement (the “Closing”) will take place at the offices of Pedersen & Houpt, 161 North Clark
St., Suite 3100, Chicago, Illinois at 11:00 A.M. Central time no later than the first business day after the date on which the conditions set forth in Article VIII and Article IX have been satisfied or waived, or on such other date or
place as Purchaser and Seller may determine (the “Closing Date”). 
 10.2 Deliveries by Seller. 
 At the Closing, Seller shall deliver or procure delivery to Purchaser of: 
 (a) one or more bills of sale, in form and substance reasonably satisfactory to Purchaser, conveying in the aggregate all of the owned
personal property of Seller included in the Acquired Assets, duly executed by Seller; 
 (b) one or more assignments and
assumptions of the Assumed Obligations, in form and substance reasonably satisfactory to Purchaser (collectively, the “Assignment and Assumption”), duly executed by Seller; 
 (c) duly executed Intellectual Property Assignments, in form and substance reasonably satisfactory to Purchaser, each in recordable form
to the extent necessary to duly assign such rights to Purchaser; 
  

 29 

 (d) an affidavit from Seller, dated as of the Closing Date, in form and substance
required under the Treasury Regulations issued pursuant to section 1445 of the Code certifying under penalties of perjury that Seller is not a foreign person pursuant to section 1445(b)(2) of the Code; 
 (e) certificates of title and title transfer documents to all titled motor vehicles; 
 (f) an assignment and assumption agreement with respect to Seller’s Permits and warranties in form and substance reasonably
acceptable to Purchaser, whereby Seller shall assign to Purchaser all of their respective rights in and to any Permits and warranties relating (directly or indirectly) to the Acquired Assets or the Business, to the extent such Permits and warranties
are assignable; 
 (g) all the Books and Records, and any data related to the Business; 
 (h) such other instruments, in form and substance, reasonably satisfactory to Purchaser, as are necessary to vest in Purchaser good and
marketable title in and to the Acquired Assets in accordance with the provisions hereof; 
 (i) such documentation as may be
necessary to change the authorized signatories on any bank accounts to be transferred hereby or powers of attorney relating (directly or indirectly) to the Acquired Assets or the Business; and 
 (j) a certified copy of the Sale Order. 
 10.3 Deliveries by Purchaser. 
 At the Closing, Purchaser will deliver (a) to Seller (i) the
Assignment and Assumption duly executed by Purchaser and (ii) shall pay by wire transfer an amount equal to the Cash Consideration. 
 10.4 Form of Instruments. 
 To the extent that a form of any document to be delivered hereunder is not attached as an Exhibit
hereto, such documents shall be in form and substance, and shall be executed and delivered in a manner, reasonably satisfactory to Purchaser and Seller. 
 ARTICLE XI 
 TERMINATION; TERMINATION PAYMENT 
 11.1 Termination. 
 This Agreement may
be terminated prior to the Closing as follows: 
 (a) by mutual written agreement of Purchaser and Seller; 
  

 30 

 (b) by either Purchaser or Seller if there shall be in effect a Final Order restraining,
enjoining or otherwise prohibiting the consummation of the transactions contemplated hereby; 
 (c) by either Purchaser or
Seller (provided that the terminating party is not then in material breach of any representation, warranty, covenant or other agreement contained herein), if there shall have been a material breach or misrepresentation of any of the
representations or warranties or a material breach of any of the covenants or obligations set forth in this Agreement on the part of Seller, on the one hand, or the Purchaser on the other hand, which breach would give rise to the failure of the
conditions set forth in Section 8.1 or 9.1, as applicable, and such breach is not cured within ten days following written notice to the party committing such breach or which breach, by its nature, cannot be cured prior to the
Closing; 
 (d) by Purchaser or Seller (provided that the terminating party is not then in material breach of any
representation, warranty, covenant or other agreement contained herein) if it shall have reasonably determined that a material condition set forth in Article IV, Article VIII and Article IX for the benefit of the terminating party has
not been or cannot be fulfilled or satisfied prior to the Termination Date and has not been waived by the terminating party, provided that the terminating party shall not be responsible for the failure of such condition to be satisfied;

 (e) by Purchaser if Seller (i) seeks or supports Bankruptcy Court approval of an Alternative Transaction (other than
to or by Purchaser) or a chapter 11 plan contemplating the sale or retention of the Acquired Assets in a manner substantially inconsistent with the terms of this Agreement or (ii) executes and delivers an agreement or understanding of any kind
with respect to an any of the items described in the foregoing clause (i); 
 (f) by Purchaser or Seller if the Bankruptcy
Court enters an order approving any Alternative Transaction (other than the sale of the Business and the Acquired Assets to Purchaser); 
 (g) by Purchaser or Seller on any day on or after May 30, 2008 (the “Termination Date”) if the Closing shall not have been consummated by such date (or by such later date as shall be mutually
agreed to by Purchaser and Seller in writing), unless the Closing has not occurred due to a material failure of the terminating party to perform or observe its covenants or obligations as set forth in this Agreement required to be performed or
observed by it on or before the Closing Date; 
 (h) by Purchaser if there is any “Event of Default” as defined
under the DIP Facility; and 
 (i) by Purchaser or Seller if the Bankruptcy Court fails to approve the Bidding Procedures
Order. 
 11.2 Breakup Fee and Expense Reimbursement. 
 (a) Upon the first to occur of (i) the date Seller consummates an Alternative Transaction or (ii) following approval of the
Bidding Procedures Order, on the date Seller files a chapter 11 plan contemplating the sale or retention of the Acquired Assets by Seller in a manner substantially inconsistent with the terms of this Agreement, Seller shall immediately pay (in cash)
to Purchaser the Breakup Fee and Expense Reimbursement, which shall be a super-priority administrative expense claim senior to all other administrative expense claims of Seller under section 364(c)(1) of the Bankruptcy Code. 
  

 31 

 (b) If Purchaser terminates this Agreement pursuant to Section 11.1(c) as a
result of a material breach or default by Seller and Purchaser is not in material breach of this Agreement, Seller shall pay to Purchaser $108,000 in cash as complete liquidated damages hereunder, such payment to constitute a super-priority
administrative obligation of Seller under section 364(c)(1) of the Bankruptcy Code. In no event shall Purchaser be entitled to receive payment under both this Section 11.2(b) and Section 11.2(a). 
 (c) Within three (3) Business Days of the signing of the Agreement, Purchaser shall deliver $108,000 to an escrow agent to be
mutually agreed upon by Purchaser and Seller (the “Escrow Agent”). Upon termination of the Agreement by Seller pursuant to Section 11.1(c) as a result of a material breach or default by Purchaser, and provided Seller is
not in material breach of this Agreement, within three (3) Business Days following such termination, Purchaser and Seller shall execute joint written instructions to the Escrow Agent instructing the Escrow Agent to pay such funds to Seller as
complete liquidated damages hereunder. In the absence of such breach or default, Purchaser shall be entitled to receive all such funds from the Escrow Agent upon the Closing. 
 (d) Each of the parties’ obligations to make payments pursuant to this Section 11.2 shall survive termination of this
Agreement, other than in an instance in which this Agreement is terminated as a result of the Bankruptcy Court’s failure to approve the Bidding Procedures Order (for reason other than Seller’s breach of an obligation under this Agreement).

 11.3 Effect of Termination or Breach. 
 If the transactions contemplated hereby are not consummated (a) this Agreement shall become null and void and of no further force and effect, except (i) for this Section 11.3 and (ii) for
the provisions of Sections 6.8, 11.2, 13.1, 13.2, 13.4, 13.7, 13.8, 13.9, 13.10, 13.11, and 13.12 hereof, each of provisions set forth in (i) and (ii) above
to survive the termination of this Agreement; (b) the receipt by the Purchaser of the Breakup Fee and Expense Reimbursement, which shall be payable in accordance with Section 11.2, shall be the Purchaser’s sole and exclusive
remedy (as liquidated damages) other than for claims based on actual fraud, and the Purchaser shall not be entitled to any other damages, losses, or payment from Seller, and Seller shall have no further obligation of Liability of any kind to the
Purchaser or its Affiliates on account of this Agreement; and (c) if this Agreement is terminated for any reason other than the termination of this Agreement by Seller pursuant to Section 11.1(c), Seller shall not be entitled to any
damages, losses, or payment from Purchaser, and Purchaser shall have no further obligation or Liability of any kind to Seller or any of its Affiliates on account of this Agreement. The Purchaser’s obligations under the Confidentiality Agreement
shall survive the termination of this Agreement. Notwithstanding anything provided here to the contrary, in the event that this Agreement is terminated as a result of the failure of the Bankruptcy Court to approve the Bidding Procedures Order (for
reason other than Seller’s breach of an obligation under this Agreement), Seller shall not be obligated to pay the Breakup Fee or Expense Reimbursement. 
  

 32 

 ARTICLE XII 
 ADDITIONAL POST-CLOSING COVENANTS 
 12.1 Employees. 
 (a) Purchaser shall offer employment immediately prior to the Closing (but contingent on the occurrence of the Closing) to such employees
of Seller actively employed or engaged principally in the Business as of the Closing Date as determined by Purchaser in its sole discretion (such employees who accept such offer of employment, the “Rehired Employees”) on terms and
conditions as determined by Purchaser in its sole discretion. 
 (b) Nothing contained in this Agreement shall confer upon any
employee of Seller prior to the Closing or Rehired Employee any right with respect to continuance of employment by Purchaser or any of its Affiliates, nor shall anything herein interfere with the right of Purchaser or any of its Affiliates to
terminate the employment of any employee, including any Rehired Employee, at any time, with or without notice and for any or no reason, or restrict Purchaser or any of its Affiliates in modifying any of the terms or conditions of employment of any
employee, including any Rehired Employee, after the Closing. 
 12.2 Joint Post-Closing Covenants of Purchaser and Seller. 

Purchaser and Seller jointly covenant and agree that, from and after the Closing Date, Purchaser and Seller will each use commercially reasonable
efforts to cooperate with each other in connection with any action, suit, proceeding, investigation or audit of the other relating to (a) the preparation of an audit of any Tax Return of Seller or Purchaser for all periods prior to or including
the Closing Date and (b) any audit of Purchaser and/or any audit of Seller with respect to the sales, transfer and similar Taxes imposed by the Laws of any state or political subdivision thereof, relating to the transactions contemplated by
this Agreement. In furtherance hereof, Purchaser and Seller further covenant and agree to promptly respond to all reasonable inquiries related to such matters and to provide, to the extent reasonably possible, substantiation of transactions and to
make available and furnish appropriate documents and personnel in connection therewith. All costs and expenses incurred in connection with this Section 12.2 referred to herein shall be borne by the party who is subject to such action.

 12.3 Certain Consents. 
 If a consent of a Third Party which is required in order to assign any Acquired Asset (or Claim, right or benefit arising thereunder or resulting therefrom) is not obtained prior to the Closing Date, or if an attempted assignment would be
ineffective or would adversely affect the ability of Seller to convey its interest in question to Purchaser, Seller will cooperate with Purchaser and use commercially reasonable efforts in any lawful arrangement to provide that Purchaser shall
receive the interests of Seller in the benefits of such Acquired Asset. If any consent or waiver is not obtained before the Closing Date and the Closing is nevertheless consummated, Seller agrees to continue to continue to use commercially
reasonable efforts to obtain all such consents as have not been obtained prior to such date. 
  

 33 

 12.4 Post-Closing Operation of Seller; Name Changes. 
 Provided Purchaser is approved as the successful bidder at the Auction, from and after the Closing, Seller will cease its operations and will not engage
in any competitive business whatsoever, except for matters required by the Bankruptcy Court, including collecting receivables, selling Excluded Assets, the handling of returns and gift certificates, notifying customers and suppliers that Seller is
going out of business, minor ministerial matters not related to the Business, or enforcing its rights and performing its obligations under this Agreement. Promptly after the Closing, Seller shall take all necessary action to change its name to a
name bearing no resemblance to the names set forth on the signature pages to this Agreement and will file such documents as are necessary to reflect such name change in the States in which Seller is incorporated and the other jurisdictions where
Seller is qualified to do business as a foreign entity. Seller agrees to promptly notify Purchaser of such name change and the name chosen by Seller. Purchaser agrees and acknowledges that it shall not change its name to the name of Seller prior to
the Closing. Notwithstanding the foregoing, Seller may refer to “RedEnvelope, Inc.” as a former name for legal and noticing purposes in the Chapter 11 Case and other legal documents. 
 12.5 Accounts Receivable; Collections. 
 After the Closing, Seller shall permit, and hereby authorizes, Purchaser to collect, in the name of Seller, all accounts, notes and credit card receivables constituting part of the Acquired Assets and to endorse with the name of Seller for
deposit in Purchaser’s account any checks or drafts received in payment thereof. Seller shall promptly deliver to Purchaser any cash, checks or other property that Seller may receive after the Closing in respect of any accounts, notes and
credit card receivables or other asset constituting part of the Acquired Assets. 
 12.6 Tax Matters. 
 Purchaser shall, within 120 days after the Closing Date, prepare and deliver to Seller a schedule allocating the Purchase Price (and any other items that
are required for federal income tax purposes to be treated as part of the purchase price) among the Acquired Assets in accordance with the requirements of section 1060 of the Code (such schedule, the “Allocation”). Purchaser and
Seller shall report and file all Tax Returns (including amended Tax Returns and claims for refund) consistent with the Allocation, and shall take no position contrary thereto or inconsistent therewith (including in any audits or examinations by any
Governmental Authority or any other proceeding). Purchaser and Seller shall cooperate in the filing of any forms (including Form 8594 under section 1060 of the Code) with respect to such Allocation. Notwithstanding any other provision of this
Agreement, the terms and provisions of this Section 12.6 shall survive the Closing without limitation. 
 ARTICLE XIII 

 MISCELLANEOUS 
 13.1
Survival. 
 The representations and warranties contained in this Agreement shall not survive the Closing. Each of the covenants and
obligations of Purchaser and Seller in this Agreement and in the other Transaction Documents shall survive in accordance with their respective terms. 
  

 34 

 13.2 Expenses. 
 (a) Except as provided in Section 8.2(d) or 11.2 hereof, each party hereto shall bear its own costs and expenses,
including attorneys’ fees, with respect to the transactions contemplated hereby. Notwithstanding the foregoing, in the event of any action or proceeding to interpret or enforce this Agreement, the prevailing party in such action or proceeding
(i.e., the party who, in light of the issues contested or determined in the action or proceeding, was more successful) shall be entitled to have and recover from the non-prevailing party such costs and expenses (including all court costs and
reasonable attorneys’ fees) as the prevailing party may incur in the pursuit or defense thereof. 
 13.3 Amendment. 

This Agreement may not be amended, modified or supplemented except by a written instrument signed by Seller and Purchaser. 
 13.4 Notices. 
 Any notice, request,
instruction or other document to be given hereunder by a party hereto shall be in writing and shall be deemed to have been given, (a) when received if given in person, (b) on the date of transmission if sent by telex, telecopy, email or
other wire transmission (with answer back confirmation of such transmission, and, if sent by email, provided that a copy of such notice, request or instruction or other document be sent by overnight delivery), (c) upon delivery, if delivered by
a nationally known commercial courier service providing next day delivery service (such as Federal Express), or (d) upon delivery, or refusal of delivery, if deposited in the U.S. mail, certified or registered mail, return receipt requested,
postage prepaid: 
  

			
	To Seller:	  	RedEnvelope, Inc.
		  	149 New Montgomery Street
		  	San Francisco, California 94105
		  	Attn: Board of Directors
		
	with a copy (which
shall not constitute notice to):	  	 Morrison & Foerster LLP
 12531 High
Bluff Drive
 San Diego, California 92130-2040
 Attn: Christopher
M. Forrester
 Fax: (858) 720-5125

	  
	  
	  
	  
		
	To Purchaser, to:	  	Creative Catalogs Corporation
		  	19W661 101st Street
		  	Lemont, Illinois 60439
		  	Attn: John Semmelhack
		  	Fax: (630) 783-6400

  

 35 

			
	 with a copy
 (which shall not constitute
notice) to:
	  	 Pedersen & Houpt
 161 North Clark
Street, Suite 3100
 Chicago, Illinois 60601
 Attn: John H.
Muehlstein
 Fax: (312) 261-1112

	  
	  
	  
	  
	  

 or to such other individual or address as a party hereto may designate for itself by notice given as herein
provided. 
 13.5 Waivers. 
 The failure of a party hereto at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same. No waiver by a party of any condition or of any breach of any term,
covenant, representation or warranty contained in this Agreement shall be effective unless in writing by Seller in the case of a waiver by Seller, or Purchaser, in the case of any waiver by Purchaser, and no waiver in any one or more instances shall
be deemed to be a further or continuing waiver of any such condition or breach of other instances or a waiver of any other condition or breach of any other term, covenant, representation or warranty. 
 13.6 Counterparts and Execution. 
 This Agreement may be executed simultaneously in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any counterpart may be executed by facsimile signature and
such facsimile signature shall be deemed an original. 
 13.7 SUBMISSION TO JURISDICTION. 
 THE PARTIES HEREBY AGREE THAT ANY AND ALL CLAIMS, ACTIONS, CAUSES OF ACTION, SUITS, AND PROCEEDINGS RELATING TO THIS AGREEMENT OR THE OTHER AGREEMENTS
CONTEMPLATED HEREIN SHALL BE FILED AND MAINTAINED ONLY IN THE BANKRUPTCY COURT, AND THE PARTIES HEREBY CONSENT TO THE JURISDICTION OF SUCH COURT. 
 13.8 Governing Law. 
 This Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware
(regardless of the Laws that might otherwise govern under applicable Delaware principles of conflicts of Law) as to all matters, including but not limited to matters of validity, construction, effect, performance and remedies. 
  

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 13.9 Binding Nature; Assignment. 
 Subject to approval of the Bankruptcy Court, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto without prior written consent of the other party (which shall not be unreasonably
withheld or delayed); except that (a) Purchaser may assign any of its rights and obligations hereunder to any Affiliate or Subsidiary of Purchaser (whether wholly owned or otherwise) or to its lenders and, following the Closing, in whole or in
part to any successor-in-interest to any Person acquiring all or any portion of the Business or the Acquired Assets; (b) the rights and interests of Seller hereunder may be assigned to a trustee appointed under chapter 11 or chapter 7
of the Bankruptcy Code; (c) this Agreement may be assigned to any entity appointed as a successor to Seller pursuant to a confirmed chapter 11 plan; and (d) as otherwise provided in this Agreement. Seller hereby agrees that Purchaser
may grant a security interest in its rights and interests hereunder to its lenders, and Seller will sign a consent with respect thereto if so requested by Purchaser or its lenders (upon approval by the Bankruptcy Court as necessary), and that the
terms of this Agreement shall be binding upon any subsequent trustee appointed under chapter 11 or chapter 7 of the Bankruptcy Code. 
 13.10 No Third Party Beneficiaries. 
 This Agreement is solely for the benefit of the parties hereto and nothing contained
herein, express or implied, is intended to confer on any Person other than the parties hereto or their successors and permitted assigns and any Persons named as an indemnitee herein, any rights, remedies, obligations, Claims, or causes of action
under or by reason of this Agreement. 
 13.11 Construction. 
 The language used in this Agreement will be deemed to be the language chosen by the parties to this Agreement to express their mutual intent, and no rule
of strict construction shall be applied against any party. Any reference to any federal, state, local or foreign statute or Law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise.

 13.12 Public Announcements. 
 Except as required by this Agreement, Law or in connection with the Chapter 11 Case, neither Seller nor Purchaser shall issue any press release or public announcement concerning this Agreement or the transactions contemplated hereby without
obtaining the prior written approval of the other parties hereto relating to the contents and manner of presentation and publication thereof, which approval will not be unreasonably withheld, delayed or conditioned. Prior to making any public
disclosure required by applicable Law, Seller shall give Purchaser a copy of the proposed disclosure and reasonable opportunity to comment on the same and shall use its best efforts to include Purchaser’s comments in such public disclosure. For
purposes of clarity, the reference to “applicable Law” in the preceding sentence does not include filings in the Chapter 11 Case. 
 13.13 Entire Understanding. 
 This Agreement, the other Transaction Documents and the Schedules set forth the entire
agreement and understanding of the parties hereto in respect to the transactions contemplated hereby and the Agreement and the Schedules supersede all prior agreements, arrangements and understandings relating to the subject matter hereof and are
not intended to confer upon any other Person any rights or remedies hereunder. 
  

 37 

 13.14 Closing Actions. 
 All deliveries, payments and other transactions and documents relating to the Closing shall be interdependent, and none shall be effective unless and
until all are effective (except to the extent that the party entitled to the benefit thereof has waived satisfaction or performance thereof as a condition precedent to the Closing). 
 13.15 Conflict between Transaction Documents. 
 The parties hereto agree and acknowledge that to the extent any terms and provisions of this Agreement are in any way inconsistent with or in conflict with any term, condition or provision of any other agreement or document referred to
herein other than the DIP Facility, this Agreement shall govern and control. 
 * * * * * 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Asset Purchase Agreement to be executed and
delivered on the date first above written. 
  

			
	PURCHASER:
	
	CREATIVE CATALOGS CORPORATION
		
	By:	 	/s/ John Semmelhack
	Name:	 	John Semmelhack
	Title:	 	Chief Executive Officer

  

			
	SELLER:
	
	REDENVELOPE, INC.:
		
	By:	 	/s/ Philip Neri
	 Name:
 Title:
	 	 Philip Neri
 Chief Financial
Officer

 SIGNATURE PAGE TO THE ASSET PURCHASE AGREEMNT

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