Document:

<PAGE>

                               FIFTH AMENDMENT TO
                                CREDIT AGREEMENT

         THIS FIFTH AMENDMENT TO CREDIT AGREEMENT ("Fifth Amendment") dated as
of April 6, 2000, by and among SUCCESSORIES, INC., an Illinois corporation,
CELEBRATING EXCELLENCE, INC., an Illinois corporation, SUCCESSORIES OF ILLINOIS,
INC., an Illinois corporation, CELEX SUCCESSORIES, INC., a Canadian corporation,
BRITISH LINKS ACQUISITION CORP., an Illinois corporation, and B.L.G.C., INC., a
Texas corporation (hereinafter, together with their successors in title and
assigns, called the "Borrowers" and each of which individually is a "Borrower"),
THE PROVIDENT BANK, as Agent, an Ohio banking corporation ("Agent"), and various
Lenders as set forth in the Credit Agreement.

                              PRELIMINARY STATEMENT

         WHEREAS, Borrowers, Agent and Lenders have entered into a Credit
Agreement dated as June 20, 1997, as amended by a First Amendment dated as of
July 16, 1997, a Second Amendment dated as of May 14, 1998, a Third Amendment
dated as of September 1, 1998 and a Fourth Amendment dated as of April 28, 1999
(as so amended, the "Credit Agreement"); and

         WHEREAS, Borrowers have requested Lenders to make various financial
adjustments to the Credit Agreement and waive and adjust various covenants set
forth in the Credit Agreement; and

         WHEREAS, Borrowers, Agent and Lenders now wish to amend the Credit
Agreement in accordance with the terms and provisions hereof.

         NOW, THEREFORE, the parties hereto agree to supplement and amend the
Credit Agreement upon such terms and conditions as follows:

         1. CAPITALIZED TERMS. All capitalized terms used herein shall have the
meanings assigned to them in the Credit Agreement unless the context hereof
requires otherwise. Any definitions as capitalized terms set forth herein shall
be deemed incorporated into the Credit Agreement as amended by this Fifth
Amendment.

         2. WAIVER OF CERTAIN COVENANTS. The Lenders hereby agree to waive the
application of Sections 7.1, 7.2 and 7.3 of the Credit Agreement solely as they
relate to the Reference Period ending on the Computation Date closest to January
31, 2000. The waivers contained in this Section 2 apply only to Sections 7.1,
7.2 and 7.3 of the Credit Agreement to the extent expressly stated herein and do
not otherwise modify or waive any other covenant or agreement contained in the
Credit Agreement or for any other Reference Period.

         3. DEFINITIONS; EXHIBITS. (a) Section 1.2 of the Credit Agreement is
hereby amended to add the following definitions to read in its entirety as
follows:

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

                                      - 2 -

               "ADVANCE RATE" means an amount equal to 57%.

               "FIFTH AMENDMENT CLOSING DATE" means the day on which the Fifth
          Amendment to Credit Agreement is executed and delivered by all
          applicable parties.

               "FIXED CHARGES" mean, for any period, the following, each
          calculated for such period, without duplication: (i) Cash Interest
          Expense paid or accrued, MINUS (ii) interest income earned or accrued
          by a Borrower as determined in accordance with GAAP, PLUS (iii)
          scheduled payments of principal with respect to all Indebtedness for
          Borrowed Money of Borrower including, the principal component of any
          cash payments made on any Capital Lease, PLUS (iv) cash dividends
          payable for the quarter for which such calculation is made with
          respect to any Series A or Series B Preferred Stock of Holdings'
          outstanding on the Closing Date.

               "BORROWING BASE" means, as of any date of determination, the sum
          of (a) an amount equal to eighty-five percent (85%) of Eligible
          Receivables, PLUS (b) (i) during the months of January and May through
          December of each year, an amount equal to the percentage of Eligible
          Inventory equal to the Advance Rate, and (ii) during the months of
          February, March and April of each year, an amount equal to the lesser
          of Three Million and 00/100 Dollars ($3,000,000.00) and an amount
          equal to the percentage of Eligible Inventory equal to the Advance
          Rate.

         4. EBITDA. Section 7.1 of the Credit Agreement is hereby amended in its
entirety to read as follows:

               Section 7.1 EBITDA. Borrowers shall not permit its EBITDA for the
          Reference Period ending on each Computation Date set forth below to be
          less than the dollar amount set forth below opposite such date:

<TABLE>
<CAPTION>

          =============================================================

                 Computation Date                 CONSOLIDATED
                    Closest to                        EBITDA
          -------------------------------------------------------------
          <S>                                     <C>
                  January 31, 1998                   $4,164,000
          -------------------------------------------------------------

                   April 30, 1998                    $4,000,000
          -------------------------------------------------------------

                    July 31, 1998                    $4,200,000
          -------------------------------------------------------------

                  October 31, 1998                   $4,500,000
          -------------------------------------------------------------

                  January 31, 1999                   $5,300,000
          -------------------------------------------------------------

                    April 30, 1999                  ($1,565,000)
          =============================================================
</TABLE>

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

                                      - 3 -
<TABLE>
<CAPTION>
          =============================================================

                 Computation Date                 CONSOLIDATED
                    Closest to                        EBITDA
          -------------------------------------------------------------
          <S>                                     <C>
                     July 31, 1999                   ($230,000)
          -------------------------------------------------------------

                   October 31, 1999                   $830,000
          -------------------------------------------------------------

                   January 31, 2000                 $4,100,000
          -------------------------------------------------------------

                   April 30, 2000                   $3,050,000
          -------------------------------------------------------------

                   July 31, 2000                    $3,200,000
          -------------------------------------------------------------

                   October 31, 2000                 $3,350,000
          -------------------------------------------------------------

                   January 31, 2001                 $3,480,000
          -------------------------------------------------------------

          April 30, 2001 and Each Computation
                Date thereafter                     $3,600,000
          =============================================================
</TABLE>

         5. INTEREST COVERAGE RATIO. Section 7.2 of the Credit Agreement is
hereby amended in its entirety to read as follows:

               Section 7.2 INTEREST COVERAGE RATIO. On each Computation Date,
          Borrowers shall not permit the ratio of Consolidated EBITDA to
          Consolidated Cash Interest Expense to be less than the amount set
          forth below opposite such date.
<TABLE>
<CAPTION>

          =============================================================

                 COMPUTATION DATE
                    CLOSEST TO                          RATIO
          -------------------------------------------------------------
          <S>                                        <C>
                  January 31, 1998                   Not Applicable
          -------------------------------------------------------------

            April 30, 1998, July 31, 1998,             3.0 to 1.0
                  October 31, 1998
          -------------------------------------------------------------

                  January 31, 1999                     4.0 to 1.0
          -------------------------------------------------------------

                   April 30,1999                     Not Applicable
          -------------------------------------------------------------

                   July 31, 1999                     Not Applicable
          -------------------------------------------------------------

                  October 31, 1999                     0.75 to 1.0
          -------------------------------------------------------------

                  January 31, 2000                     3.80 to 1.00
          -------------------------------------------------------------

                   April 30, 2000                      2.60 to 1.00
          -------------------------------------------------------------
</TABLE>

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

                                      - 4 -
<TABLE>
<CAPTION>

          =============================================================

                 COMPUTATION DATE
                    CLOSEST TO                          RATIO
          -------------------------------------------------------------
          <S>                                           <C>
                  July 31, 2000                        2.75 to 1.00
          -------------------------------------------------------------

                 October 31, 2000                       3.15 to 1.00
          -------------------------------------------------------------

           January 31, 2001 and each Computation
                       Date thereafter                  3.40 to 1.00
         ==============================================================
</TABLE>

         6. FIXED CHARGE COVERAGE. Section 7.3 of the Credit Agreement is hereby
amended in its entirety to read as follows:

               Section 7.3 FIXED CHARGE COVERAGE. Borrower shall not permit the
          Consolidated ratio of Cash Flow to Fixed Charges for the Reference
          Period ending on the dates set forth below to be less than the amount
          set forth opposite such date:

<TABLE>
<CAPTION>
          =============================================================

                 COMPUTATION DATE
                    CLOSEST TO                               RATIO
          -------------------------------------------------------------
          <S>                                            <C>
               January 31, 1998, April 30, 1998,         1.25 to 1.0
             July 31, 1998, October 31, 1998 and
                      January 31, 1999
          -------------------------------------------------------------

              April 30, 1999, July 31, 1999, and        Not Applicable
                      October 31, 1999
          -------------------------------------------------------------

                      January 31, 2000                   2.60 to 1.00
          -------------------------------------------------------------

                       April 30, 2000                   Not Applicable
          -------------------------------------------------------------

                       July 31, 2000                     1.25 to 1.00
          -------------------------------------------------------------

                     October 31, 2000                    1.15 to 1.00
          -------------------------------------------------------------

                     January 31, 2001                    1.10 to 1.00
          -------------------------------------------------------------

                      April 30, 2001                     1.10 to 1.00
          -------------------------------------------------------------

                      July 31, 2001                      1.10 to 1.00
          -------------------------------------------------------------

           October 31, 2001 and each Computation         1.15 to 1.00
                   Date thereafter
          =============================================================
</TABLE>

         7. REAFFIRMATION OF COVENANTS, WARRANTIES AND REPRESENTATIONS.
Borrowers hereby agree and covenant that all representations and warranties set
forth in the Credit Agreement including, without limitation, all of those
representations and warranties set forth in Article 5 thereof, are true and
accurate as of the date hereof and except to the extent that such relate to a
specific date.

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

                                      - 5 -

Borrowers further reaffirm all covenants set forth in the Credit Agreement, and
reaffirm each of the affirmative covenants set forth in Article 6, all financial
covenants set forth in Article 7 except to the extent modified or amended by
this Fifth Amendment, and all negative covenants set forth in Article 8 thereof,
as if fully set forth herein, except to the extent modified by this Fifth
Amendment.

         8. CONDITIONS PRECEDENT TO CLOSING OF FIFTH AMENDMENT. On or prior to
the closing of this Fifth Amendment (hereinafter the "Fifth Amendment Closing
Date"), each of the following conditions precedent shall have been satisfied:

            (a) DOCUMENTS. Each of the documents to be executed and delivered
at the Fifth Amendment Closing and all other certificates, documents and
instruments to be executed in connection herewith shall have been duly and
properly authorized, executed and delivered by Borrowers and shall be in full
force and effect on and as of the Fifth Amendment Closing Date.

            (b) LEGALITY OF TRANSACTIONS. No change in applicable law shall have
occurred as a consequence of which it shall have become and continue to be
unlawful, (i) for Agent and each Lender to perform any of their agreements or
obligations under any of the Loan Documents, or (ii) for Borrowers to perform
any of their agreements or obligations under any of the Loan Documents.

            (c) PERFORMANCE. Except as set forth herein, Borrowers shall have
duly and properly performed, complied with and observed each of their covenants,
agreements and obligations contained in each of the Loan Documents. Except as
set forth herein, no event shall have occurred on or prior to the Fifth
Amendment Closing Date, and no condition shall exist on the Fifth Amendment
Closing Date which constitutes a Default or an Event of Default.

            (d) PROCEEDINGS AND DOCUMENTS. All corporate, governmental and other
proceedings in connection with the transactions contemplated on the Fifth
Amendment Closing Date, each of the other Loan Documents and all instruments and
documents incidental thereto, shall be in form and substance reasonably
satisfactory to Agent.

            (e) NO CHANGES. Since the date of the most recent balance sheets of
Borrowers delivered to Agent, no changes shall have occurred in the assets,
liabilities, financial condition, business, operations or prospects of Borrowers
which, individually or in the aggregate, are material to Borrowers, and Agent
shall have completed such review of the status of all current and pending legal
issues as Agent shall deem necessary or appropriate.

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

                                      - 6 -

            (f) AMENDMENTS TO WARRANTS/ISSUANCE OF ADDITIONAL WARRANTS.
Successories, Inc. shall have issued to Agent an amendment to Warrant No. 5
issued to Provident Financial Group, Inc. ("PFGI") for 300,000 shares, amending
the exercise price to $2.00 per share.

         9. MISCELLANEOUS.

            (a) Borrowers shall reimburse Agent for all fees and disbursements
of legal counsel to Agent which shall have been incurred by Agent in connection
with the preparation, negotiation, review, execution and delivery of this Fifth
Amendment and the handling of any other matters incidental hereto.

            (b) All of the terms, conditions and provisions of the Credit
Agreement not herein modified shall remain in full force and effect. In the
event a term, condition or provision of the Credit Agreement conflicts with a
term, condition or provision of this Fifth Amendment, the latter shall govern.

            (c) This Fifth Amendment shall be governed by and shall be construed
and interpreted in accordance with the laws of the State of Ohio.

            (d) This Fifth Amendment shall be binding upon and shall inure to
the benefit of the parties hereto and their respective heirs, successors and
assigns.

            (e) This Fifth Amendment may be executed in several counterparts,
each of which shall constitute an original, but all which together shall
constitute one and the same agreement.

    [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGES TO FOLLOW.]

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

         IN WITNESS WHEREOF, this Fifth Amendment has been duly executed and
delivered by or on behalf of each of the parties as of the day and year first
above written.

                                   BORROWERS:

                                   SUCCESSORIES, INC., an Illinois corporation

                                   By: /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

                                   CELEBRATING EXCELLENCE, INC., an Illinois
                                   corporation

                                   By:  /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

                                   SUCCESSORIES OF ILLINOIS, INC., an Illinois
                                   corporation

                                   By:  /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

                                   CELEX SUCCESSORIES, INC., a Canadian
                                   corporation

                                   By:  /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>
                                   BRITISH LINKS ACQUISITION CORP., an Illinois
                                   corporation

                                   By:  /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

                                   B.L.G.C., INC., a Texas corporation

                                   By:  /s/ Gary J. Rovansek
                                       ----------------------------------------
                                   Name: Gary J. Rovansek
                                   Title: President

                                   AGENT:

                                   THE PROVIDENT BANK, as Agent, an Ohio
                                   banking corporation

                                   By:  /s/ Nick Jevic
                                       ----------------------------------------
                                   Name: Nick Jevic
                                   Title: Senior Vice President

                                   LENDERS:

                                   THE PROVIDENT BANK, an Ohio banking
                                   corporation

                                   By:  /s/ Nick Jevic
                                       ----------------------------------------
                                   Name: Nick Jevic
                                   Title: Senior Vice President

FIFTH AMENDMENT TO CREDIT AGREEMENT
Successories, Inc.

<PAGE>

First Amendment to Warrant Certificate No. 5        Warrants for 300,000 Shares

Original Issue Date:  April 29, 1999

                               FIRST AMENDMENT TO

                        WARRANT TO PURCHASE COMMON STOCK

                                       OF

                               SUCCESSORIES, INC.

         This certifies that the Warrant to Purchase Common Stock No. 5, issued
to PROVIDENT FINANCIAL GROUP, INC., an Ohio corporation, or its registered
assigns ("Holder"), on April 29, 1999 is hereby amended as follows:

          From and after the date hereof, the purchase price shall be Two
          and 00/100 Dollars ($2.00) per share of Common Stock (the "Purchase
          Price").

April 6, 2000                             SUCCESSORIES, INC.

                                          By: /s/ Gary J. Rovansek
                                             ------------------------
                                          Name: Gary J. Rovansek
                                          Title: President<PAGE>

              FIRST AMENDMENT TO SECOND AMENDED AND RESTATED MASTER
                         REPURCHASE AGREEMENT GOVERNING
                      PURCHASES AND SALES OF MORTGAGE LOANS

This First Amendment, dated as of June 1, 2000 (the "FIRST AMENDMENT"), to the
Second Amended and Restated Master Repurchase Agreement Governing Purchases and
Sales of Mortgage Loans dated as of April 28, 2000 (the "AGREEMENT"), is made by
and between LEHMAN COMMERCIAL PAPER INC. ("BUYER") and AAMES CAPITAL CORPORATION
("SELLER" and, together with the Buyer, the "Parties").

                                    RECITALS

         WHEREAS, the Seller and the Buyer are parties to the Agreement,
pursuant to which the Buyer has agreed, subject to the terms and conditions set
forth in the Agreement, to purchase certain mortgage loans owned by the Seller,
including, without limitation, all rights of Seller to service and administer
such mortgage loans. Terms used but not defined herein shall have the respective
meanings ascribed to such terms in the Agreement, as amended hereby.

         WHEREAS, the Parties wish to amend the Agreement to modify certain of
the terms and conditions governing the purchase and sale of the mortgage loans.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereto agree as
follows:

         SECTION 1.        AMENDMENTS.

         Effective as of March 31, 2000 the following Sections of the Agreement
are hereby amended as follows:

1.1      Section 13(a)(xii) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "either Net Worth or Tangible Net Worth of the Guarantor shall
                  be less than (a) prior to and on June 30, 2000, $35,000,000,
                  (b) after June 30, 2000 and prior to and on July 31, 2000,
                  $60,000,000 and (c) after July 31, 2000, $75,000,000;"

1.2      Section 13(a)(xiii) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "Tangible Net Worth of the Seller at any time shall be less
                  than the sum of (a) $315,000,000, plus (b) an amount equal to
                  75% of the aggregate positive Net Income (without deduction
                  for quarterly losses) of the Seller plus (iii) 80% of the net
                  proceeds from the issuance of any equity

<PAGE>

                  securities of the Seller or the making of any capital
                  contributions to the Seller, in either case after July 31,
                  2000;"

1.3      Section 13(a)(xiv) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "the Interest Coverage Ratio of the Guarantor shall exceed
                  1.05 to 1.0 on the last Business Day of any calendar quarter
                  beginning with the fiscal quarter ending September 2000;"

1.4      Section 13(a)(xv) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "the Leverage Ratio of the Guarantor shall exceed (a) prior to
                  and on June 30, 2000, 13.0 to 1.0, (b) after June 30, 2000 and
                  prior to and on July 31, 2000, 12.0 to 1.0 and (c) after July
                  31, 2000, 10.0 to1.0;"

1.5      Section 13(a)(xvi) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "the Adjusted Leverage Ratio of the Guarantor shall exceed (a)
                  prior to and on June 30, 2000, 7.0 to 1.0, (b) after June 30,
                  2000 and prior to and on July 31, 2000, 6.0 to 1.0 and (c)
                  after July 31, 2000, 5.0 to1.0;"

1.6      Section 13(a)(xviii) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "the aggregate amount of the Guarantor's cash, cash
                  equivalents and available borrowing capacity on unencumbered
                  assets that could be drawn against (taking into account
                  required haircuts) under committed warehouse or working
                  capital facilities, on a consolidated basis and on any given
                  day, shall be less than (a) prior to and on June 15, 2000,
                  $5,000,000 and (b) after June 15, 2000, $15,000,000;"

1.7      Section 13(a)(xxi) of the Agreement is hereby deleted in its entirety
         and replaced with the following:

                  "for any fiscal quarter of the Guarantor, beginning with the
                  fiscal quarter ending September 30, 2000, the Guarantor and
                  its subsidiaries shall incur a net loss on a consolidated
                  basis in accordance with GAAP; or"

         SECTION 2.        COVENANTS, REPRESENTATIONS AND WARRANTIES OF THE
                           PARTIES.

2.1      Except as expressly amended by Section 1 hereof, the Agreement remains
         unaltered and in full force and effect. Each of the Parties hereby
         reaffirms all terms and covenants made in the Agreement as amended
         hereby.

<PAGE>

2.2      Each of the Parties hereby represents and warrants to the other that
         (a) this First Amendment constitutes the legal, valid and binding
         obligation of such Party, enforceable against such Party in accordance
         with its terms, and (b) the execution and delivery by such Party of
         this First Amendment has been duly authorized by all requisite
         corporate action on the part of such Party and will not violate any
         provision of the organizational documents of such Party.

         SECTION 3.        EFFECT UPON THE AGREEMENT.

3.1      Except as specifically set forth herein, the Agreement shall remain in
         full force and effect and is hereby ratified and confirmed. All
         references to the "Agreement" in the Second Amended and Restated Master
         Repurchase Agreement Governing Purchases and Sales of Mortgage Loans
         shall mean and refer to the Second Amended and Restated Master
         Repurchase Agreement Governing Purchases and Sales of Mortgage Loans as
         modified and amended hereby.

3.2      The execution, delivery and effectiveness of this First Amendment shall
         not operate as a waiver of any right, power or remedy of any Party
         under the Agreement, or any other document, instrument or agreement
         executed and/or delivered in connection therewith.

         SECTION 4.        EQUITY INVESTMENT.

         The Seller shall arrange for an equity investment from Capital Z into
         Aames Financial Corporation in the aggregate amount of not less than
         FIFTY MILLION DOLLARS ($50,000,000), gross of expenses, which
         investment shall be in form and substance satisfactory to the Buyer
         (the "EQUITY INVESTMENT"). The failure to (a) consummate at least
         $25,000,000 of the Equity Investment on or prior to June 30, 2000 or
         (b) consummate the entire Equity Investment on or prior to July 31,
         2000, shall constitute an Event of Default under the Agreement.

         SECTION 5.        GOVERNING LAW.

         THIS FIRST AMENDMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED BY
         THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT
         OF LAWS PRINCIPLES THEREOF.

         SECTION 6.        COUNTERPARTS.

         This First Amendment may be executed in any number of counterparts, and
         all such counterparts shall together constitute the same agreement.

                            [SIGNATURE PAGE FOLLOWS]

<PAGE>

         IN WITNESS WHEREOF, the Parties hereto have caused this First Amendment
to be executed as of the day and year first above written.

                                     SELLER:

                                     AAMES CAPITAL CORPORATION, as Seller

                                     By:      /s/  John Kohler
                                            ---------------------------------
                                            Name:     John Kohler
                                            Title:    Executive Vice President

                                    BUYER:

                                     LEHMAN COMMERCIAL PAPER INC., as Buyer

                                     By:      /s/  Fred C. Madonna
                                            ---------------------------------
                                            Name:    Fred C. Madonna
                                            Title:   Authorized Signatory

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