Document:

ex10-1sellagreement.htm

    
      

      

    

    
 

    Exhibit
10.1

    ASSUMPTION
OF SELLING AGENT AGREEMENT

    

    This ASSUMPTION OF SELLING AGENT
AGREEMENT, dated as of February 29, 2008 (this “Agreement”), is by and between
the Tennessee Valley Authority, a wholly-owned corporate agency and
instrumentality of the United States of America (“TVA”), and Incapital LLC, a
Illinois limited liability company (“Incapital”).

    

    WHEREAS, TVA entered into a selling
agent agreement relating to it electronotes® program
dated as of June 1, 2006 (as may be amended or modified from time to time, the
“Selling Agent Agreement”) with LaSalle Financial Services Inc. (“LaSalle”) and
the other selling agents named in the Selling Agent Agreement;

    

    WHEREAS, LaSalle has been acquired by
Incapital; and

    

    WHEREAS, Incapital desires to assume
all of the rights, duties, obligations, and liabilities of LaSalle under the
Selling Agent Agreement;

    

    NOW THEREFORE, for and in consideration
of the mutual promises and terms and conditions contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

    

    1.           Assumption.  Incapital
hereby assumes, as of the date hereof, all of the rights, duties, obligations,
and liabilities of LaSalle under the Selling Agent
Agreement.  Incapital shall be deemed to be a party to the Selling
Agent Agreement as if it were named therein in each place where LaSalle was
heretofore named.

    

    2.           Further
Assurances.  Each party hereto agrees to promptly and duly
execute and deliver additional documents, instruments, agreements, notices, and
consents and to take such actions as are reasonably necessary or required in the
reasonable judgment of either party to carry out the provisions of this
Agreement.

    

    3.           Successors and
Assigns.  The terms of this Agreement shall be binding upon,
and shall inure to the benefit of, the parties hereto and their respective
successors and assigns.

    

    4.           Counterparts.  This
Agreement may be executed by the parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute but one and the same
instrument.

    

    5.           Amendment.  No
amendment or modification of this Agreement shall be valid unless the same is in
writing and is executed by each of the parties hereto.

    

    6.           Notices.  All
statements, requests, notices,  advices, and other communications
under the Selling Agent Agreement if to Incapital shall be sufficient in all
respects if mailed, delivered, or sent by facsimile transmission (confirmed in
writing)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    to
Incapital at the address or facsimile number set forth below its signature and
if to TVA shall be sufficient in all respects if mailed, delivered, or sent by
facsimile transmission (confirmed in writing) to TVA at 400 West Summit Hill
Drive, Knoxville, Tennessee 37902, Attention:  Senior Vice President
and Treasurer, facsimile number (865) 632-6673.  All such notices
shall be effective upon receipt.  Notwithstanding the foregoing, TVA
may furnish copies of proposed amendments or supplements to electronotes®
offering circulars as required by Section III(b) of the Selling Agent Agreement
by sending such amendments or supplements to Incapital at the e-mail address set
forth below its signature.

     

    7.           Governing
Law.  This Agreement shall be in all respects governed by and
construed in accordance with the substantive laws of the State of Tennessee to
the extent not inconsistent with federal law.

     

    8.           Headings.  The
headings contained in this Agreement are for purposes of convenience only and
shall not affect the meaning or interpretation of this
Agreement.

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their respective officers thereunto duly
authorized.

     

     

    INCAPITAL
LLC

     

    By:          /s/
John
Radtke                        

                    Name:    
John Radtke

                   
Title:       Executive Director

    
 

    [Please
insert mailing address for notices]

    Facsimile
Number: 954-687-1002

    E-Mail
Address: john.radtke@incapital.com

     

     

     

    TENNESSEE
VALLEY AUTHORITY

     

     

    By:         
/s/
John M.
Hoskins                  

    Name:    John
M. Hoskins

    Title:     Senior
Vice President and Treasurerexh10_63.htm

    (PAGE
NUMBERS REFER TO PAPER DOCUMENT ONLY)

    

    EXHIBIT 10.63

    THIRD
AMENDMENT TO

    MASTER
LEASE AGREEMENT

    

    

    This THIRD AMENDMENT TO MASTER LEASE
AGREEMENT (this “Amendment”) is made and entered into by and between WAL-MART
STORES EAST, LP, a Delaware limited partnership, WAL-MART STORES, INC., a
Delaware corporation, WAL-MART LOUISIANA, LLC, a Delaware limited liability
company, and WAL-MART STORES TEXAS, LLC, a Texas limited partnership
(collectively, “Landlord”) and CPI CORP, a Delaware corporation
(“Tenant”).  The effective date (the “Effective Date”) of this
Amendment is the date on which this Amendment is last executed by a party
hereto, as indicated on the signature pages of this Amendment.

    

    RECITALS

    

    WHEREAS, Landlord and Portrait
Corporation of America, Inc. (“PCA”) entered into that certain Master Lease
Agreement (the “Master Lease”) effective June 8, 2007;

    

    WHEREAS, PCA assigned its rights and
obligations under the Master Lease to Tenant pursuant to that certain First
Amendment to Master Lease Agreement effective June 20, 2007 (the “First
Amendment”); and

    

    WHEREAS, Landlord and Tenant entered
into that certain Second Amendment to the Master Lease effective August 20, 2007
(the “Second Amendment”); and

    

    WHEREAS, Landlord and Tenant desire to
modify the Master Lease in accordance with the terms and provisions of this
Amendment.

    

    NOW, THEREFORE, in consideration of the
premises and promises contained herein, and other good and valuable
consideration, the receipt and sufficiency and validity of which are hereby
acknowledged, Landlord and Tenant agree as follows:

    

    AGREEMENT

    

    1.          
Accuracy of
Recitals.   The foregoing recitals are true and
correct and are hereby incorporated into this Amendment as if fully set forth
herein.

    

    2.           Definitions.   Capitalized
terms used in this Amendment without definition shall have the meaning assigned
to such terms in the Master Lease as amended, unless the context expressly
required otherwise.

    

    3.           Amendment.   The
Master Lease is amended as follows:

    

    
      	
              a.  

            	 	
              Section
      1.1H of the Master Lease is deleted and replaced by the
      following:

               

              “Leased Premises” means the areas of the Store
      designated in Section A-1 of each fully executed Attachment A to this
      Master Lease leased to Tenant by Landlord subject to the terms and
      conditions of this Master
  Lease.

            

    

     

    
      	
              b.  

            	 	
              Section
      1.1.K. of the Master Lease is deleted and replaced by the
      following:

               

              “Store”
      or “Stores” means the “Wal-Mart” retail stores operated by Landlord
      designated on Exhibit A
      attached hereto and incorporated herein.  Exhibit A in
      the form attached hereto is hereinafter added to
      this 
      Master Lease.

            

    

    

     

    
      
        
        

      

      
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              c.  

            	 	
              On
      or before July 31, 2008, Tenant shall close the 51 Leased Premises located
      in Stores designated on Exhibit B
      attached hereto and incorporated herein.  The parties may extend
      the July 31, 2008 Leased Premises 
      closure date by mutual written agreement.  Exhibit B in
      the form attached hereto is added to the Master Lease.  All
      Leased Premises closed in accordance with this Section 3(c) must be closed
      in accordance with  
      Section 17.3 of the Master Lease, except that Tenant shall leave each
      Leased Premises closed in accordance with this Section 3(c) in broom clean
      condition.

            

    

    

    
      	
              d.  

            	 	
              Appendix-1
      of the Master Lease is hereby amended by deleting Section 8(e) in its
      entirety.

            

    

    

    

    
      	
              e.  

            	 	
              The
      Hours of Operation defined in Section 3 of Appendix-1 of the Master Lease
      are deleted and replaced by the following new minimum Hours of
      Operation:

            

    

    

    
      	
              Day

            	 
      	
              Hours

            	 
      	
              Lunch

            
	
              Sunday
      – Thursday

            	 
      	
              10
      am – 6 pm

            	 
      	
              Closed
      2-3 pm

            
	
              Friday

            	 
      	
              10
      am – 7 pm

            	 
      	
              Closed
      2-3 pm

            
	
              Saturday

            	 
      	
              10
      am – 7 pm

            	 
      	
              Open

            

    

    

    4.           Acknowledgement.      Landlord
acknowledges that Tenant has complied with the requirements set forth in Section
8(e)(3) of Appendix-1 of the Master Lease for the fiscal year ending January 31,
2008, which has been deleted pursuant to Section 3(d) of this
Amendment.

    

    5.           Headings.     The
section headings are for convenience of reference only and do no modify or
restrict any provisions hereof and shall not be used to construe any
provisions.

    

    6.           Successors.     The
Amendment shall inure to the benefit of and bind the parties hereto and their
respective executors, heirs, administrators, successors and assigns to the
extent permitted by the Master Lease.

    

    7.           Full Force and
Effect.     Except as expressly modified by this
Amendment, the Master Lease, as amended by the First and Second Amendments,
remains unmodified in full force and effect and is ratified by the parties
hereto.

    

    8.           Counterparts.     This
Amendment may be executed in multiple counterparts, each of which shall be
deemed to be an original, but all of which, together, shall constitute one and
the same instrument.  Facsimile signatures shall have the same force
and effect as original signatures.

    

    

    IN WITNESS WHEREOF, the
parties have executed this Amendment as of the day and year written
below.

    

     

                                                                                              

     

     

    
      
        	LANDLORD:	 	 
	 	 	 
	WAL-MART
      STORES, INC.	 	 
	 	 	 	 
	
                By:
      

              	/s/Don
      R. Ethridge	 	4/15/08
	 	Don
      R. Ethridge	 	Date
	 	Title:	 	 
	 	 	 	 

      

    

     

     

    

    

    
      
        
        

      

      
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	WAL-MART
      STORES EAST, LP	 	 
	 	 	 	 
	
                  By:
      

                	/s/Don
      R. Ethridge	 	4/15/08
	 	Don
      R. Ethridge	 	Date
	 	Title:	 	 
	 	 	 	 

        

      

       

       

    

    
       

      
        
          	 	 	 
	WAL-MART
      STORES TEXAS, LLC	 	 
	 	 	 	 
	
                  By:
      

                	/s/Don
      R. Ethridge	 	4/15/08
	 	Don
      R. Ethridge	 	Date
	 	Title:	 	 
	 	 	 	 

        

      

       

       

    

    
       

      
        
          	 	 	 
	WAL-MART LOUISIANA,
      LLC	 	 
	 	 	 	 
	
                  By:
      

                	/s/Don
      R. Ethridge	 	4/15/08
	 	Don
      R. Ethridge	 	Date
	 	Title:	 	 
	 	 	 	 

        

      

       

       

    

     

     

     

    
       

      
        
          	TENANT:	 	 
	 	 	 
	CPI
      CORP., a Delaware corporation	 	 
	 	 	 	 
	
                  By:
      

                	/s/Renato
      Cataldo	 	4/15/08
	 	Renato
      Cataldo	 	Date
	 	Title:	 	 
	 	 	 	 

        

      

       

       

    

     

     

     

     

     

     

     

    
 

    

    

    

     

    

    

    

    

    
      
        
        

      

      
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    Exhibit
A

    

    (See
Attached)

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
        
        

      

      
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    Exhibit
B

    

    (See
Attached)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
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