Document:

KMZR DRAFT – 11/15/02

EXHIBIT 10.1

EXECUTION COPY

ASSET PURCHASE AGREEMENT

dated October 11, 2006

among

PHILLIPS-VAN HEUSEN CORPORATION

and

SUPERBA, INC.

and

A. MERVYN MANDELBAUM

TABLE OF CONTENTS                 Page

ARTICLE I. CLOSING; SALE OF PURCHASED ASSETS

1

1.1

The Closing

1

1.2

Sale of Purchased Assets.

1

1.3

Assumption of Liabilities.

3

1.4

Purchase Price; Delivery of Purchase Price; Escrow Account

5

1.5

Purchase Price Adjustment

5

1.6

Deferred Purchase Price

7

1.7

Allocation of Purchase Price

10

1.8

Power of Attorney

11

1.9

Actions Simultaneous

11

ARTICLE II. REPRESENTATIONS AND WARRANTIES OF THE PRINCIPAL

12

2.1

Authority; Execution and Delivery; Enforceability

12

2.2

Non-Contravention

12

2.3

Consents and Approvals

12

2.4

Litigation and Claims

12

2.5

Ownership

13

2.6

Certain Assets

13

2.7

No Finder

13

2.8

No Reliance

13

ARTICLE III. REPRESENTATIONS AND WARRANTIES OF THE SELLER AND 

THE PRINCIPAL WITH RESPECT TO THE SELLER

13

3.1

Organization; Good Standing

13

3.2

Equity Interests

14

3.3

Authority; Execution and Delivery; Enforceability

14

3.4

Non-Contravention

14

3.5

Corporate Documents; Books and Records

15

3.6

Consents and Approvals

15

3.7

Title to Assets; Sufficiency of Assets

15

3.8

Real Property

15

3.9

Employment Related Agreements and Actions

16

3.10

Contracts

17

3.11

Intellectual Property

19

3.12

Insurance

20

3.13

Financial Statements; Liabilities; Internal Controls

21

3.14

Tax Matters

21

3.15

Absence of Certain Changes and Events

22

3.16

Litigation and Claims

23

3.17

Governmental Permits; Compliance with Laws

23

3.18

Environmental Matters

24

3.19

Employee Plans

25

3.20

Receivables

26

3.21

Inventory

27

3.22

Customers

27

3.23

Suppliers

27

3.24

Products

27

3.25

Bank Accounts

27

3.26

No Finder

28

3.27

No Reliance

28

ARTICLE IV. REPRESENTATIONS AND WARRANTIES OF THE BUYER

28

4.1

Organization; Good Standing

28

4.2

Authority; Execution and Delivery; Enforceability

28

4.3

Non-Contravention

29

4.4

Consents and Approvals

29

4.5

Litigation and Claims

29

4.6

No Restrictions on Business

29

4.7

No Finder

29

4.8

No Reliance

30

ARTICLE V. ACTION PRIOR TO THE CLOSING DATE

30

5.1

Conduct of Business

30

5.2

No Breach of Representations and Warranties; Notification of Certain Matters

33

5.3

Access

33

5.4

Standstill

34

5.5

Notice of Litigation

34

5.6

Fulfillment of Conditions to the Buyer’s Obligations

34

5.7

Fulfillment of Conditions to the Seller’s Obligations

34

5.8

Governmental Consents

34

5.9

Third Party Consents

35

5.10

Publicity

35

5.11

Employment Agreements

35

ARTICLE VI. OTHER AGREEMENTS OF THE PARTIES

35

6.1

Cooperation in Litigation

35

6.2

Employees

36

6.3

Non-Competition, Non-Solicitation, Non-Derogation and Confidentiality

38

6.4

Tax Matters

40

6.5

Access to Records

41

6.6

Use of Name

41

6.7

Letters of Credit; Lockbox Account

42

6.8

Cash Available for Checks

42

6.9

Excluded Entities

42

6.10

Reimbursement of Royalty and Advertising Payments

42

6.11

Further Assurances

42

ARTICLE VII. CONDITIONS PRECEDENT TO OBLIGATIONS OF THE BUYER

43

7.1

Representations and Warranties

43

7.2

Performance

43

7.3

No Material Adverse Effect

43

7.4

Certificates

43

7.5

Injunctions

44

7.6

HSR Act Clearance

44

7.7

Government Approvals

44

7.8

Third Party Consents

44

7.9

Bill of Sale/Assignment and Assumption Agreement

44

7.10

Intellectual Property Agreement

44

7.11

Escrow Agreement

44

7.12

Employment Agreements

44

7.13

L.A. Facility

45

7.14

Transition Services

45

7.15

Power of Attorney

45

7.16

Landlord Waiver

45

ARTICLE VIII. CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLER

45

8.1

Representations and Warranties

45

8.2

Performance

45

8.3

Certificates

45

8.4

Injunctions

46

8.5

HSR Act Clearance

46

8.6

Government Approvals

46

8.7

Assignment and Assumption Agreement

46

8.8

Escrow Agreement

46

8.9

Employment Agreements

46

8.10

Transition Services

46

8.11

L.A. Facility

46

ARTICLE IX. INDEMNIFICATION

47

9.1

Survival

47

9.2

Indemnification by the Seller and the Principal

47

9.3

Indemnification by the Buyer

48

9.4

Limitations on Indemnification

48

9.5

Tax Treatment of Indemnity Payments.

49

9.6

Notice of Claims

50

9.7

Third Party Claims

50

ARTICLE X. TERMINATION

51

10.1

Termination

51

10.2

Effects of Termination

51

ARTICLE XI. MISCELLANEOUS

52

11.1

Expenses of the Transaction

52

11.2

Notices

52

11.3

No Modification Except in Writing

53

11.4

Entire Agreement

53

11.5

Severability

53

11.6

Assignment

53

11.7

Governing Law; Jurisdiction

54

11.8

Specific Performance

54

11.9

Headings; References

54

11.10

Interpretation

54

11.11

Schedules

55

11.12

Third Parties

55

11.13

Seller Representative

55

11.14

Counterparts

55

i

APPENDICES*

APPENDIX A.  DEFINITIONS

A-1

APPENDIX B.  EBIT CALCULATIONS

B-1

APPENDIX C.  PURCHASE PRICE ALLOCATION

C-1

APPENDIX D.  SELLER DISCLOSURE SCHEDULES

D-1

APPENDIX E.  WORKING CAPITAL LINE ITEMS

E-1

APPENDIX F.  EMPLOYEES TO ENTER INTO EMPLOYMENT AGREEMENTS

F-1

APPENDIX G.  EXCLUDED CONTRACTS

G-1

APPENDIX H.  GAAP EXCEPTIONS

H-1

EXHIBITS

EXHIBIT A

Assignment and Assumption Agreement

EXHIBIT B

Escrow Agreement

EXHIBIT C

Intellectual Property Agreement

EXHIBIT D

L.A. Facility Lease

EXHIBIT E

Landlord Waiver

EXHIBIT F

M. Mandelbaum Employment Agreement

EXHIBIT G

Power of Attorney

EXHIBIT H

Transition Services Agreement

EXHIBIT I

D. Mandelbaum Employment Agreement

EXHIBIT J

Form of Employment Agreement

__________________

*The Buyer will furnish supplementally a copy of any omitted appendix to the Commission upon request.  Appendix B contains principles and terms applicable to the calculation of Deferred Purchase Price Payments.

ii

ASSET PURCHASE AGREEMENT

ASSET PURCHASE AGREEMENT (this “Agreement”), dated October 11, 2006, among PHILLIPS-VAN HEUSEN CORPORATION, a Delaware corporation (the “Buyer”), and SUPERBA, INC., a California corporation (the “Seller”) and A. MERVYN MANDELBAUM (the “Principal”).  

W I T N E S S E T H:

WHEREAS, the Seller is a manufacturer and distributor of branded and private label neckwear through its “Superba Division” and “Insignia Division” (the “Business”);

WHEREAS, the Principal owns a majority of the outstanding capital stock of the Seller, is the Seller’s Chief Executive Officer, and in connection herewith will enter into an employment agreement with the Buyer;

WHEREAS, the Buyer desires to purchase and acquire from the Seller, and the Seller desires to sell and transfer to the Buyer, substantially all of the assets of the Seller, and the Buyer desires to assume, and the Seller desires to assign to the Buyer, certain of the liabilities of the Seller, all on the terms and subject to the conditions hereinafter set forth; and

WHEREAS, terms used in this Agreement and not otherwise defined in this Agreement are defined in Appendix A hereto.

NOW, THEREFORE, the parties hereto hereby agree as follows:

ARTICLE I.

CLOSING; SALE OF PURCHASED ASSETS

1.1   

The Closing

.  The closing (the “Closing”) of the transactions contained in this Article I shall take place at 10:00 a.m. (Eastern time) on January 2, 2007 (effective as of January 1, 2007) unless all of the conditions contained in Articles VII and VIII have not been satisfied or waived prior to such date (other than those conditions which will be satisfied at the Closing Time), in which event the Closing shall take place on the sixth Business Day after which all of the conditions contained in Articles VII and VIII have been satisfied or waived (other than those conditions which will be satisfied at the Closing Time), or at such other time or such other date as the Buyer and the Seller may agree, at the offices of Katten Muchin Rosenman LLP, 575 Madison Avenue, New York, New York.  (Hereinafter, such date is referred to as the “Closing Date” and such time on the Closing Date is referred to as the “Closing Time.”)

1.2   

Sale of Purchased Assets.

(a)    

On the terms and subject to the conditions set forth herein, at the Closing, the Seller shall sell, convey, transfer, assign and deliver to the Buyer, and the Buyer shall purchase, all of the Seller’s right, title and interest in and to all of the assets, properties, business and goodwill, wherever located, owned, used or held by the Seller (collectively, the “Purchased Assets”), excluding only the Excluded Assets, free and clear of any Liens (other than Permitted Liens), including, without limitation:

(i)

all accounts and other receivables as of the Closing Date; 

(ii)

all prepaid assets, expenses, rent and insurance benefits, rights and proceeds of the Seller as of the Closing Date; 

(iii)

all items of tangible personal property;

(iv)

all inventory (including, without limitation, finished goods, raw materials and work in process) on hand, and all goods in transit, as of the Closing Date;

(v)

all Contracts, other than the Excluded Contracts;

(vi)

all Company Intellectual Property, and all rights with respect to any claims (past, present or future) with respect thereto and the right to all Damages payable in respect thereof; 

(vii)

the business and goodwill of the Seller as a going concern; and

(viii)

all books, records, files and materials in the care, custody or control of the Seller and the Principal which relate to any and all of the Purchased Assets, to the operations of the Business, and to Transferred Employees regardless of form or medium of storage, including, without limitation, customer and prospective customer files, payment and credit and collection records, invoices, packing lists and shipping documents and supplier and prospective supplier files, maintenance records, sales and advertising material, documentation, manuals, purchase orders and accounting and financial records. 

(b)    

Notwithstanding anything else contained in this Agreement or in any Related Agreement, the following assets shall not be included in the Purchased Assets to be sold or acquired pursuant to this Agreement (collectively, the “Excluded Assets”): 

(i)

all cash, cash equivalents and marketable securities as of the Closing Date;

(ii)

any and all rights to the Life Insurance Policy and related receivable;

(iii)

receivables from employees of the Seller to the extent such receivables relate to such employee’s purchase of capital stock of the Seller;

(iv)

all security deposits, prepaid expenses and rent (including rent receivable) and other rights and benefits associated with the Empire State Building Facility;

(v)

all claims for refunds of Taxes and other governmental charges of whatever nature, unless reflected on the Closing Date Working Capital Statement;

(vi)

all claims for refunds of worker’s compensation premiums or payments paid by the Seller;

(vii)

the Seller’s minute books, stock books and Tax records and related documents (provided, however, that the Seller shall provide copies thereof to the Buyer);

(viii)

the Excluded Contracts;

(ix)

all of the issued and outstanding capital stock of the Excluded Entities; 

(x)

all rights and benefits of the Seller and the Principal under this Agreement and the Related Agreements; and

(xi)

all other property and assets designated as “Excluded Assets” in the Seller Disclosure Schedule.

The Purchased Assets shall not include any of the Seller’s assets which would otherwise constitute a part of the Purchased Assets, the assignment or attempted assignment of which would be invalid or would constitute a breach of any agreement or commitment to which the Seller is a party or by which the Seller may be bound; provided, however, that any such Purchased Asset referred to in this sentence shall be held and/or received by the Seller for the benefit of the Buyer so that the Buyer will be in substantially the same position as if such Purchased Asset had been transferred to the Buyer at the Closing.  The sale, conveyance, transfer, assignment and delivery of the Purchased Assets by the Seller to the Buyer hereunder shall be effected by such assignments, transfers of title, deeds, bills of sale and other instruments as shall be reasonably requested by the Buyer.

1.3   

Assumption of Liabilities.

(a)    

On the terms and subject to the conditions set forth herein, at the Closing, the Buyer shall assume, become liable for and agree to pay, discharge and perform, as the case may be, only the following Liabilities of the Seller (collectively, the “Assumed Liabilities”):

(i)

Liabilities reflected on the Closing Date Working Capital Statement; 

(ii)

Liabilities of the Seller arising out of or in connection with facts or events that occur at or after the Closing Time under the Contracts, including the Intellectual Property Contracts, but excluding the Excluded Contracts; 

(iii)

Liabilities of the Seller arising out of or in connection with facts or events that occur prior to the Closing Time under any Intellectual Property Contract, other than those Liabilities set forth in Section 1.3(b)(ii) and (vii); and

(iv)

Liabilities associated with any Employee Plan covering any of the Transferred Employees arising out of or in connection with facts or events that occur at or after the Closing Time, and as provided in Section 6.2.

(b)    

Notwithstanding anything else contained in this Agreement or in any Related Agreement, other than the Assumed Liabilities, the Buyer shall not assume any Liabilities of the Seller or the Principal, including, without limitation, those (collectively, the “Excluded Liabilities”): 

(i)

arising or accruing under any Excluded Contract;

(ii)

under any Contract (other than an Intellectual Property Contract) occurring prior to the Closing Time, by reason of or for any default, breach or penalty, whether known or unknown, and monetary obligations under any Intellectual Property Contract accruing or otherwise arising out of or in connection with facts or events that occurred prior to the Closing Time, whether by reason of or for any default, breach or penalty of the Seller or otherwise;

(iii)

for Taxes of any and all types (including, without limitation, whether due to the Seller’s existence, its form of ownership, the Tax treatment elected by its shareholders) as a result of the operations of the Business or the ownership of the Purchased Assets prior to the Closing Time, or otherwise; 

(iv)

with respect to events occurring prior to the Closing Time arising out of or in connection with non-compliance with Laws, including Environmental Laws;

(v)

with respect to severance Liabilities as set forth in Section 6.2(b) and Liabilities associated with the Seller’s obligation, if any, to continue medical and life insurance benefits for former employees of the Seller (other than Transferred Employees); 

(vi)

Liabilities associated with any Excluded Employee;

(vii)

with respect to pre-Closing periods, Liabilities arising out of or in connection with investigations or audits by licensors or other business partners of the Business;

(viii)

for accrued but unpaid dividends due shareholders of the Seller;

(ix)

related to the Stock Repurchase Agreements;

(x)

with respect to events occurring prior to the Closing Time arising out of or in connection with workers’ compensation claims;

(xi)

with respect to events occurring prior to the Closing Time, Liabilities associated with any Employee Plans, including any unused and accrued vacation and, subject to the Transition Services Agreement, with respect to events occurring prior to, at or after the Closing Time, Liabilities associated with any Employee Plan covering the employees of the Hong Kong Subsidiary;

(xii)

with respect to the characterization or treatment of certain Persons prior to the Closing Time as independent contractors, exempt employees or non-exempt employees;

(xiii)

arising out of or in connection with any Action to the extent it relates to facts or events occurring prior to the Closing Time;

(xiv)

long-term debt Liabilities, including, without limitation, any such Liabilities arising under any credit agreement between the Seller and another Person, including any letter of credit facility, and any indebtedness owed to any shareholder of the Seller; 

(xv)

with respect to so-called “owner expenses,” consisting of personal expenses of the Principal and members of his family paid for by the Seller, including, lease expenses for aircraft, residences, and automobiles, salary, benefits and other compensation payable to the Excluded Employee, personal tax preparation costs, charitable donations, and estate planning fees;

(xvi)

fees and expenses of the Seller and the Principal arising out of or in connection with the transactions hereby contemplated; and

(xvii)

any Liabilities of the Excluded Entities.

All of the Excluded Liabilities shall be paid, performed or otherwise discharged by the Seller as and when due; provided, however, that the foregoing shall not restrict the Seller from contesting, in good faith, any third-party Liability.

1.4   

Purchase Price; Delivery of Purchase Price; Escrow Account

.  

(a)    

In consideration of the sale of the Purchased Assets to the Buyer, the Buyer shall pay to the Seller (or its designee) aggregate consideration (the “Purchase Price”) as follows:  the sum of (i) cash in the amount of $110,000,000, subject to adjustment as set forth in Section 1.5, plus (ii) at the times and subject to the terms and conditions set forth in Section 1.6, the Deferred Purchase Price.

(b)    

At the Closing, the Buyer shall pay to the Seller (or its designee) an amount equal to (i) $110,000,000, less the Escrow Amount.  Such amount shall be paid by wire transfer of immediately available funds to an account designated in writing by the Seller at least two Business Days prior to the Closing, and the Escrow Amount shall be deposited by the Buyer into the Escrow Account and held by the Escrow Agent in accordance with the Escrow Agreement. 

(c)    

At the Closing, pursuant to the Escrow Agreement, the Buyer shall deposit $5,500,000 (the “Escrow Amount”) into an escrow account, such escrow account (the “Escrow Account”) to be established and maintained in accordance with the terms of the Escrow Agreement to (i) provide security for the payment by the Seller or the Principal of any amounts that become due in accordance with Article IX and (ii) hold any disputed amounts deposited pursuant to Section 1.6(f). 

1.5   

Purchase Price Adjustment

.  The Purchase Price shall be adjusted as follows: 

(a)    

Within 90 days after the Closing Date, the Buyer shall deliver to the Seller a statement setting forth the Average Working Capital (the “Average Working Capital Statement”) and the Closing Date Working Capital (the “Closing Date Working Capital Statement” together with the Average Working Capital Statement, the “Working Capital Statements”), each prepared in accordance with GAAP, applying the same accounting principles, policies and practices that were used in preparing the Audited Financial Statements, including the GAAP Exceptions.  The Working Capital Statements shall become final and binding upon the parties on the 30th day following delivery thereof, unless the Seller gives notice of its disagreement with the Average Working Capital Statement and/or the Closing Date Working Capital Statement (a “Notice of Disagreement”) to the Buyer prior to such date.  Any Notice of Disagreement shall (i) specify in reasonable detail the nature of any disagreement so asserted and (ii) only include disagreements based on mathematical errors or based on the Average Working Capital Statement and/or Closing Date Working Capital Statement not being calculated pursuant to this Section 1.5.  If a Notice of Disagreement is received by the Buyer in a timely manner, then the Working Capital Statements (as revised in accordance with this sentence) shall become final and binding upon the Buyer and the Seller on the earlier of (A) the date the Buyer and the Seller resolve in writing any differences they have with respect to the matters specified in the Notice of Disagreement and (B) the date any disputed matters are finally resolved in writing by the Accounting Firm.  During the 30-day period following the delivery of a Notice of Disagreement, the Buyer and the Seller shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice of Disagreement.  At the end of such 30-day period, the Buyer and the Seller shall submit to an independent accounting firm (the “Accounting Firm”) for arbitration, in accordance with the standards set forth in this Section 1.5, only matters that remain in dispute and were properly included in the Notice of Disagreement in accordance with this Section 1.5 and any claim of calculation-related errors.  The Accounting Firm shall be KPMG LLP (which the parties represent has not provided services to any of them or their respective subsidiaries during the past three years) or, if such firm is unable or unwilling to act, such other nationally recognized independent public accounting firm as shall be agreed upon by the Buyer and the Seller in writing.  The Buyer and the Seller shall use their commercially reasonable efforts to cause the Accounting Firm to render a written decision resolving the matters submitted to the Accounting Firm within 30 days of the receipt of such submission.  The scope of the disputes to be resolved by the Accounting Firm shall be limited to whether the items in dispute that were properly included in the Notice of Disagreement were correctly determined pursuant to this Section 1.5 and may include calculation-related errors, and the Accounting Firm is not to make any other determination.  The Accounting Firm’s decision shall be based solely on written submissions by the Buyer and the Seller and their respective representatives and by reference to the terms of this Agreement.  The Seller and the Buyer shall furnish or cause to be furnished to the Accounting Firm such work papers and other documents and information related to the disputed matters as the Accounting Firm may request and are reasonably available to the Seller, the Buyer or their respective agents.  The Accounting Firm shall address only those items in dispute and calculation-related errors.  Judgment may be entered upon the determination of the Accounting Firm in any court having jurisdiction over the party against which such determination is to be enforced.  The fees and expenses of the Accounting Firm incurred pursuant to this Section 1.5 shall be borne by the Buyer and the Seller equally.

(b)    

Within ten Business Days after the Working Capital Statements become final and binding on the parties pursuant to this Section 1.5, the following shall occur:

(A)

if the Average Working Capital is greater than the Closing Date Working Capital, then the Seller shall pay to the Buyer an amount equal to (x) 50% of the amount by which the Average Working Capital is up to $3,000,000 greater than the Closing Date Working Capital, plus (y) 100% of the amount by which the Average Working Capital is more than $3,000,000 greater than the Closing Date Working Capital; or

(B)

if the Average Working Capital is less than the Closing Date Working Capital, then the Buyer shall pay to the Seller an amount equal to the amount by which the Average Working Capital is less than the Closing Date Working Capital; or

(C)

if the Average Working Capital is equal to the Closing Date Working Capital, then no adjustment will be made to the Purchase Price.

All payments to be made under this Section 1.5(b) shall be made by wire transfer in immediately available funds, together with interest on the amount to be so paid from the Closing Date to the date of payment.  Interest on such amount shall be at the rate of 6% per annum.

(c)    

The Buyer agrees that following the Closing it shall not take any actions, including by not maintaining appropriate books and records, which would affect the ability of any party to calculate the Closing Date Working Capital in accordance with the terms hereof, determine the grounds for any Notice of Disagreement or evaluate any disagreement set forth in a Notice of Disagreement.  During the period of time from and after the delivery of the Closing Date Working Capital Statement through the final determination of the Closing Date Working Capital Statement, the Seller and/or its authorized representatives shall have the right, during normal business hours and upon reasonable prior notice, to examine and have copies of those books and records of the Buyer relevant to the preparation of the Closing Date Working Capital Statement, and may have reasonable access to employees of the Buyer directly involved in preparing the Closing Date Working Capital Statement for purposes of asking questions relating thereto.  Such rights of access shall be exercised in a manner that does not unreasonably interfere with the operations of the Buyer.

1.6   

Deferred Purchase Price

.  

(a)    

As additional purchase price for the Purchased Assets (the “Deferred Purchase Price”), the Buyer shall make payments (the “Deferred Purchase Price Payments”) to the Seller (or its designee) as and to the extent, if any, provided in accordance with Section 1.6(d).  Any Deferred Purchase Price Payments due to the Seller pursuant to this Section 1.6 shall be paid to the Seller (or its designee), within 90 days after the end of each Measurement Period for any Deferred Purchase Price Payment due for such Measurement Period, by wire transfer of immediately available funds to an account designated in writing by the Seller.  The Buyer shall not be obligated to pay interest on the Deferred Purchase Price (except as provided in Section 1.6(h)) and shall report the payment of the Deferred Purchase Price Payments as a part of the Purchase Price for all federal, state and local Tax purposes as exclusively payments for goodwill, in addition to that portion of goodwill included within the allocation of the Purchase Price, and the Buyer and the Seller shall file their Tax Returns accordingly.

(b)    

Within 90 days after the end of each Measurement Period, the Buyer shall deliver to the Seller a written statement (each, a “Payment Statement”), including supporting documentation, setting forth the EBIT calculation for the applicable Measurement Period and the amount of Deferred Purchase Price, if any, for such Measurement Period.  On the date each Payment Statement is delivered the amount of the Deferred Purchase Price Payment, if any, set forth in such Payment Statement shall be paid in the manner described in Section 1.6(a).  The applicable Payment Statement shall become final and binding upon the parties on the 45th day following delivery thereof, unless the Seller gives notice of its disagreement with such Payment Statement (a “Dispute Notice”) to the Buyer prior to such date.  Any Dispute Notice shall specify in reasonable detail the nature of any disagreement so asserted.  If a Dispute Notice is received by the Buyer in a timely manner, then the amount of the applicable Deferred Purchase Price Payment shall become final and binding upon the Buyer and the Seller on the earlier of (A) the date the Buyer and the Seller resolve in writing any differences they have with respect to the matters specified in the Dispute Notice and (B) the date any disputed matters are finally resolved in writing by the Accounting Firm.  During the 45-day period (the “Resolution Period”) following the delivery of a Dispute Notice, the Buyer and the Seller shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Dispute Notice.   At the end of the Resolution Period, the Buyer and the Seller shall submit to the Accounting Firm for arbitration, in accordance with the standards set forth in this Section 1.6, only matters that remain in dispute and were properly included in the Dispute Notice in accordance with this Section 1.6.  The Buyer and the Seller shall use their commercially reasonable efforts to cause the Accounting Firm to render a written decision resolving the matters submitted to the Accounting Firm within 30 days of their delivery of such submission.  The scope of the disputes to be resolved by the Accounting Firm shall be limited to whether the items in dispute that were properly included in the Dispute Notice were correctly determined pursuant to this Section 1.6 and may include calculation-related errors, and the Accounting Firm is not to make any other determination.  The Accounting Firm’s decision shall be based solely on written submissions by the Buyer and the Seller and their respective representatives and by reference to the terms of this Agreement.  The Seller and the Buyer shall furnish or cause to be furnished to the Accounting Firm such work papers and other documents and information related to the disputed matters as the Accounting Firm may request and are reasonably available to the Seller, the Buyer or their respective agents.  The Accounting Firm shall address only those items in dispute and calculation-related errors.  Judgment may be entered upon the determination of the Accounting Firm in any court having jurisdiction over the party against which such determination is to be enforced.  To the extent it is determined in accordance with this Section 1.6 that a Deferred Purchase Price Payment was not accurately made, if the Deferred Purchase Price Payment as determined hereunder is greater than the Deferred Purchase Price Payment made, the Buyer shall, and if the Deferred Purchase Price Payment as determined hereunder is less than the Deferred Purchase Price Payment made, the Seller shall, within ten Business Days after such determination, make payment to the other party by wire transfer in immediately available funds of the amount of such difference.  The fees and expenses of the Accounting Firm incurred pursuant to this Section 1.6 shall be borne by the Buyer and the Seller equally.  

(c)    

The Seller and/or its authorized representatives shall have the right upon and after receipt of a Payment Statement and through the end of the applicable Resolution Period, during normal business hours and upon reasonable prior notice, to examine (and, at the Seller’s expense, have copies made of) those books and records of the Buyer pertaining to transactions arising out of or relating to the calculation of the applicable Deferred Compensation Payment, and may have reasonable access to employees of the Buyer directly involved in calculating Deferred Purchase Price Payments for purposes of asking questions relating to such calculations.  Such rights of access shall be exercised in a manner that does not unreasonable interfere with the operations of the Buyer.

(d)    

If EBIT (as set forth in the applicable Payment Statement):  

(A)  for the First Measurement Period is greater than $19,000,000, the Buyer shall pay to the Seller (or its designee) in accordance with this Section 1.6, the amount set forth on Appendix B; provided, however, such amount shall be no greater than $15,000,000.  

(C)  for the Second Measurement Period is greater than $21,600,000, the Buyer shall pay to the Seller (or its designee) in accordance with this Section 1.6, the amount set forth on Appendix B; provided, however, such amount shall be no greater than $25,000,000;

(D)  for the Third Measurement Period is greater than $23,400,000, the Buyer shall pay to the Seller (or its designee) in accordance with this Section 1.6, the amount set forth on Appendix B; provided, however, such amount shall be no greater than $30,000,000.  

In connection with the foregoing, if EBIT during the applicable Measurement Period falls between the minimum EBIT amount and the maximum EBIT amount for the First Measurement Period or the minimum EBIT amount and the break point EBIT amount or the break point EBIT amount and the maximum EBIT amount for the Second Measurement Period or the Third Measurement Period, as the case may be (as set forth on Appendix B), linear interpolation between such points, as the case may be, will be utilized to calculate the Deferred Purchase Price Payment due to the Seller.  For purposes of clarification, the Seller shall not be entitled to receive Deferred Purchase Price Payments (i) in excess of $70,000,000 in the aggregate or (ii) with respect to a Measurement Period, if EBIT for such Measurement Period does not meet the minimum threshold amount set forth above with respect to such Measurement Period. 

(e)    

If during any Measurement Period a transfer to a third party that is not an Affiliate of the Buyer, in one transaction or a series of related transactions, of all or substantially all of the Business, occurs, excluding in connection with a sale of all or substantially all of the assets of the Buyer (an “Acceleration Event”), the Buyer agrees to pay the Seller (or its designee) an amount equal to the Deferred Purchase Price Payment(s) remaining to be paid as of the date of such Acceleration Event, assuming that the Business achieved the maximum EBIT amount set forth on Appendix B in each remaining Measurement Period (the “Acceleration Event Amount”).  Notwithstanding the foregoing, the Acceleration Event Amount will be paid on a present value basis using a discount rate of 8% per annum (pro rated for any partial period).  Payment of the discounted Acceleration Event Amount shall be made by the Buyer as soon as practicable but not less than ten Business Days after the completion of such Acceleration Event.  The Seller agrees that payment by the Buyer of the discounted Acceleration Event Amount shall be deemed to constitute performance in full and discharge by the Buyer of its obligation under this Agreement to make the Deferred Purchase Price Payments.  The payment shall be made by wire transfer of immediately available funds to such account as the Seller shall designate in writing to the Buyer.

(f)    

If (i) the Buyer makes a claim for indemnification against the Seller or the Principal in accordance with the terms of Article IX, (ii) the Seller or the Principal, as the case may be, disputes such indemnification claim by written notice to the Buyer, and (iii) the amount of such claim exceeds amounts then remaining in the Escrow Account not then subject to a claim or claims for indemnification under Article IX (such excess amount, the “Excess Amount”), then the Buyer may deposit the Excess Amount from the proceeds of any Deferred Purchase Price Payment which is then otherwise due and payable in the Escrow Account.

(g)    

Notwithstanding that a Deferred Purchase Price Payment has become final and binding in accordance with Section 1.6(b), if within two years following the date that such Deferred Purchase Price Payment became final and binding, the Buyer discovers that there were errors or omissions in the books and records of the Business or that accounting principles relating to the Business were not properly applied for the applicable Measurement Period and, as a result, the Buyer determines that the applicable EBIT upon which such Deferred Purchase Price Payment was made to the Seller was incorrect, then the Buyer may deliver a corrected Payment Statement to the Seller for such Measurement Period, including supporting documentation, setting forth the corrected EBIT calculation for such Measurement Period and the amount of the corrected Deferred Purchase Price Payment.  The corrected Payment Statement shall become final and binding upon the parties using the same resolution procedures and time periods set forth in Section 1.6(b) as if such corrected Payment Statement was a Payment Statement originally delivered pursuant to Section 1.6(b).  The Seller shall, within ten Business Days after the corrected Payment Statement becomes final and binding in accordance with this Section 1.6(g), make payment to the Buyer by wire transfer in immediately available funds of the amount of any difference between the corrected Deferred Purchase Price Payment and the applicable original Deferred Purchase Price Payment, together with interest on the amount of such difference from the date the original Deferred Purchase Price Payment was made to the date of payment of such difference.  Interest on the amount of such difference shall be at the rate of 8% per annum.  The fees and expenses of the Accounting Firm incurred, if any, pursuant to this Section 1.6(g) shall be borne by the Buyer and the Seller equally. 

(h)    

The Buyer shall pay interest on the applicable Deferred Purchase Price Payment, if any, if it is not paid within 90 days after the end of the applicable Measurement Period.  Interest shall be payable from the date the applicable Deferred Purchase Price Payment was due to the date of payment.  If a Dispute Notice is properly delivered with respect to any Deferred Purchase Price Payment and it is thereafter determined in accordance with Section 1.6(b) that the Deferred Purchase Price Payment made was at least 3% less than the correct Deferred Purchase Price Payment that should have been made, then the Buyer shall pay the difference owed to the Seller as provided in Section 1.6(b), together with interest on the amount of such difference from the date such Deferred Purchase Price Payment was due to the date of payment.  Interest on any payment made pursuant to this Section 1.6(h) shall be at the rate of 8% per annum.

(i)    

Following the Closing Date until the end of Third Measurement Period, the Buyer, the Seller and the Principal agree to comply with Paragraph (b) of Appendix B hereto.

1.7   

Allocation of Purchase Price.

  The Purchase Price (and all other capitalized costs) shall be allocated among the Purchased Assets in accordance with Code §1060 and the Treasury regulations thereunder (and any similar provision of state, local or foreign Law, as appropriate) as set forth on Appendix C hereto.  Within 60 days after the Closing Date, the Buyer and the Seller shall mutually prepare an allocation of the Purchase Price consistent with Appendix C, which allocation shall be binding upon the Buyer, the Seller and the Principal.  The Buyer, the Seller, the Principal and their Affiliates shall report, act and file Tax Returns (including, but not limited to, Internal Revenue Service Form 8594) in all respects and for all purposes consistent with such allocation.  The Buyer, the Seller and the Principal shall timely and properly prepare, execute, file and deliver all such documents, forms and other information as may be necessary to prepare such allocation.  None of the Buyer, the Seller and the Principal shall take any position (whether in audits, Tax Returns or otherwise) that is inconsistent with such allocation unless required to do so by applicable Law.

1.8   

Power of Attorney

.  After the Closing Time, the Buyer shall have the right and authority to endorse, without recourse, the name of the Seller on any check or other evidence of indebtedness received by the Buyer on account of any Purchased Asset (but the Buyer shall not have such right and authority with respect to any check or other evidence of indebtedness received by the Buyer on account of any Excluded Asset), and the Seller shall deliver to the Buyer at the Closing copies of such documents reasonably requested by the Buyer, certified by the Seller, to permit the Buyer to deposit such checks or other evidences of indebtedness in bank accounts in the name of the Buyer.  As of the Closing Time, the Seller shall constitute and appoint the Buyer the true and lawful attorney of the Seller with full power of substitution, in the name of the Seller, or in the name of the Buyer, at the expense of the Buyer and for the benefit of the Buyer, (a) to collect, assert or enforce any claim, right or title of any kind in or to the Purchased Assets, to institute and prosecute all actions, suits and proceedings which the Buyer may deem proper in order to collect, assert or enforce any such claim, right or title, to defend and compromise all actions, suits and proceedings in respect of any of the Purchased Assets, and to do all such acts and things in relation thereto as the Buyer shall deem advisable and (b) to take all action which the Buyer may deem proper in order to provide for the Buyer the benefits of or under any of the Purchased Assets where any required consent of a third party to the assignment thereof to the Buyer shall not have been obtained; provided, however, that the Seller shall have no Liability for any such actions taken by the Buyer.  The Seller acknowledges that such powers are coupled with an interest and shall not be revocable by it in any manner or for any reason, including, without limitation, the liquidation or dissolution of the Seller, and that the Buyer shall be entitled to retain for its own account any amounts collected pursuant to such powers, including any amounts payable as interest in respect thereof.  Such powers shall be granted by such powers of attorney and other instruments as shall be reasonably requested by the Buyer.

1.9   

Actions Simultaneous

.  All actions to be taken and all documents to be executed and delivered by all parties at the Closing shall be deemed to have been taken and executed and delivered simultaneously and no actions shall be deemed to have been taken nor shall any documents be deemed to have been executed and delivered until all actions have been taken and all documents have been executed and delivered.

ARTICLE II.

REPRESENTATIONS AND WARRANTIES

OF THE PRINCIPAL

The Principal hereby represents and warrants to the Buyer as follows:

2.1   

Authority; Execution and Delivery; Enforceability.

  The Principal has the legal capacity to execute and deliver this Agreement and, to the extent a party thereto, the Related Agreements, to perform his obligations hereunder and under such Related Agreements and to consummate the transactions contemplated hereby and by such Related Agreements.  Each of this Agreement and (when executed) the Related Agreements has been (or will be) duly executed and delivered by the Principal (to the extent a party thereto), and constitutes (or will, when executed, constitute) the legal, valid and binding obligation of the Principal (to the extent a party thereto), enforceable against him in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, moratorium and other similar Laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

2.2   

Non-Contravention

.  

  Assuming the consents described in Section 2.3 have been received, the execution and delivery of this Agreement and, to the extent a party thereto, the Related Agreements by the Principal does not, and the consummation by the Principal of the transactions contemplated hereby and by such Related Agreements and compliance by the Principal with the terms hereof and of such Related Agreements, will not:

(a)    

constitute a default under or a violation or breach of, or result in the acceleration of any obligation under, any provision of any contract or other instrument to which the Principal is a party, except to the extent such default, violation, breach or acceleration does not materially adversely affect the Principal’s ability to consummate the transactions contemplated hereby and by such Related Agreements; or

(b)    

violate any Order or any Law affecting the Principal.

2.3   

Consents and Approvals

.  Except as set forth in the Seller Disclosure Schedule, no consent, approval, license, permit, order or authorization of, or registration, declaration or filing with, any Governmental Authority, and no consent or approval of any Person, is required to be obtained by or on behalf of the Principal in connection with the execution, delivery and performance by the Principal of this Agreement or the Related Agreements, to the extent a party thereto, or the consummation of the transactions contemplated hereby and by such Related Agreements, other than compliance with and filings under the HSR Act and similar Laws of any jurisdiction.

2.4   

Litigation and Claims

.  There is no Action pending or, to the knowledge of the Principal, threatened, against or affecting the Principal that would reasonably be expected to affect his ability to consummate the transactions contemplated hereby or by the Related Agreements, to the extent a party thereto.

2.5   

Ownership

.  The Principal owns beneficially and of record a majority of the capital stock of the Seller.

2.6   

Certain Assets

.  The Principal does not own any assets used in or necessary to conduct the Business, excluding personal assets of the Principal which are incidentally used in the Business and except as set forth in the Seller Disclosure Schedule.

2.7   

No Finder

.  Except as set forth in the Seller Disclosure Schedule, neither the Principal nor any party acting on his behalf has paid or become obligated to pay any fee or commission to any broker, finder or intermediary (other than counsel) for or on account of the transactions contemplated hereby or by the Related Agreements.

2.8   

No Reliance

.  

Except for the representations and warranties made herein, in any Related Agreement or in any certificate to be delivered hereunder, the Principal makes no representation or warranty express or implied, at law or in equity, and any such other representations or warranties are hereby expressly disclaimed.  Without limiting the generality of the foregoing, the Principal makes no representation or warranty with respect to any projections relating to the Business heretofore delivered to or made available to the Buyer or its counsel, accountants or advisors of future revenues, expenses or expenditures or future results of operations of the Business.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES OF THE

SELLER AND THE PRINCIPAL WITH RESPECT TO THE SELLER

Each of the Seller and the Principal, jointly and severally, hereby represents and warrants to the Buyer as follows: 

3.1   

Organization; Good Standing

.  

  The Seller is a corporation duly organized, validly existing and in good standing under the Laws of the State of California.  The Seller has full corporate power and authority to conduct all of the business and activities conducted by it, and to own or lease all of the assets owned or leased by it; and is duly licensed or qualified to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of the business and activities conducted by it, and/or the character of the assets owned or leased by it, makes such qualification or license necessary, except for those jurisdictions in which the failure to be so qualified or licensed would not, individually or in the aggregate, limit the Seller’s ability to consummate the transactions contemplated hereby and by the Related Agreements or have a Material Adverse Effect.  

3.2   

Equity Interests

.  Except as set forth in the Seller Disclosure Schedule, the Seller does not, directly or indirectly, own any capital stock, of or other equity interests in, any Person, other than its interests in the Excluded Entities.  Except as set forth in the Seller Disclosure Schedule, the Seller is not a party to or otherwise a participant in any joint venture, partnership, or similar arrangement.  

3.3   

Authority; Execution and Delivery; Enforceability

.  The Seller has full corporate power and authority to execute and deliver this Agreement and, to the extent a party thereto, the Related Agreements, to perform its obligations hereunder and under such Related Agreements and to consummate the transactions contemplated hereby and by such Related Agreements.  All corporate acts and other proceedings required to be taken by the Seller to authorize the execution, delivery and performance of this Agreement and such Related Agreements have been duly and properly taken.  Each of this Agreement and (when executed) the Related Agreements has been (or will be) duly executed and delivered by the Seller (to the extent a party thereto), and constitutes (or will, when executed, constitute) the legal, valid and binding obligation of the Seller (to the extent a party thereto), enforceable against the Seller in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, moratorium and other similar Laws of general applicability relating to or affecting creditors’ rights and to general equitable principles. 

3.4   

Non-Contravention

.  Assuming the consents described in Section 3.6 have been received, the execution and delivery of this Agreement and the Related Agreements by the Seller, to the extent a party thereto, does not, and the consummation by the Seller of the transactions contemplated hereby and by such Related Agreements and compliance by the Seller with the terms hereof and of such Related Agreements, will not:

(i)

constitute a violation or breach of the articles of incorporation or the by-laws of the Seller;

(ii)

except as set forth in the Seller Disclosure Schedule, constitute a default under or a violation or breach of, or result in the acceleration of any obligation of the Seller under, or a change in any right or obligation of, the Seller or counterparty, under, any provision of any Contract to which the Seller is a party;

(iii)

violate any Order or any Law affecting the Purchased Assets or the Business;

(iv)

result in the creation of any Lien on any of the Purchased Assets, other than any Lien created by or through any action of the Buyer or its Affiliates; or

(v)

except as set forth in the Seller Disclosure Schedule, result in the termination of (A) any license, franchise, lease or permit to which the Seller is a party or by which it is bound, or (B) any right of the Seller under any of the foregoing.

3.5   

Corporate Documents; Books and Records

.  The Seller has made available to the Buyer complete and correct copies of the articles of incorporation and by-laws of the Seller.  The Seller has made available to the Buyer complete and correct copies of all written records of any meeting of, and action by,  the board of directors or other similar governing body (and any committee thereof) or shareholders of the Seller.

3.6   

Consents and Approvals

.  Except as set forth in the Seller Disclosure Schedule, no consent, approval, license, permit, order or authorization of, or registration, declaration or filing with, any Governmental Authority, and no consent or approval of any Person, is required to be obtained by or on behalf of the Seller in connection with the execution, delivery and performance by the Seller of this Agreement or the Related Agreements, to the extent a party thereto, or the consummation of the transactions contemplated hereby and by such Related Agreements, other than compliance with and filings under the HSR Act and similar Laws of any jurisdiction. 

3.7   

Title to Assets; Sufficiency of Assets.

(a)    

Except as set forth in the Seller Disclosure Schedule, the Seller has good and valid title to (or sufficient rights to use), free and clear of all Liens (other than Permitted Liens), all of the Purchased Assets (excluding Company Intellectual Property, the representations and warranties with respect to which are set forth in Section 3.11).

(b)    

All of the tangible personal property of the Seller has been maintained in all material respects in accordance with generally accepted industry practice.  All of the leased personal property of the Seller is in all material respects in the condition required of such property by the terms of the lease applicable thereto during the relevant term of the lease.

(c)    

The Purchased Assets are adequate and suitable for the conduct of the Business as presently conducted.

3.8   

Real Property.

(a)    

The Seller does not own any real property or, except as set forth in the Seller Disclosure Schedule, lease any real property to any other Person.  

(b)    

The Seller Disclosure Schedule contains a complete and correct list of all the real property leased to the Seller (the “Leased Real Property”), including detail regarding (i) the landlord’s name and address, and (ii) the location of the premises.  Complete and correct copies of each Real Property Lease have been provided to the Buyer.

(c)    

Since January 1, 2001, the L.A. Facility and, to the Knowledge of the Seller, each other Leased Real Property, and the use thereof comply in all material respects with all applicable Laws, including, without limitation, building and zoning ordinances and codes.

(d)    

No condemnation or other proceeding has been commenced or, to the Knowledge of the Seller, is contemplated with respect to all or any portion of the L.A Facility or, to the Knowledge of the Seller, with respect to all or any portion of any other Leased Real Property.

(e)    

The L.A. Facility has rights of access to public ways and is served by water, sewer, sanitary sewer and storm drain facilities adequate to service the L.A. Facility for its intended uses.

(f)    

Except as otherwise disclosed in the Report of Property Condition Assessment dated September 19, 2006, the L.A. Facility is in good condition, order and repair in all material respects; there exists no material structural or other material defects or damages in the L.A. Facility, whether latent or otherwise.

3.9   

Employment Related Agreements and Actions

.  

(a)    

The Seller Disclosure Schedule contains a complete and correct list of the directors and the officers of the Seller.  

(b)    

The Seller Disclosure Schedule contains a complete and correct list of all Contracts currently in effect with current officers, directors, employees, consultants, or independent contractors of the Seller relating to employment or services to be rendered to the Seller.  The Seller has provided to the Buyer the following information for each employee of the Seller as of the date of this Agreement:  name, job title, and salary.  

(c)    

Except as set forth in the Seller Disclosure Schedule:  

(i)

the Seller is not a party to any collective bargaining agreement or other contract with any labor organization or other representative of employees of the Seller, nor is any such contract presently being negotiated, and, to the Knowledge of the Seller, no question concerning representation exists or has been raised with respect to any of the employees of the Seller  since January 1, 2003, nor, to the Knowledge of the Seller, are there any campaigns being conducted to solicit cards from the employees of the Seller to authorize representation by any labor organization; 

(ii)

there is no labor strike, union-related slowdown, work stoppage, lockout or other labor controversy in effect, or to the Knowledge of the Seller, threatened against or otherwise affecting the Seller, and the Seller has not experienced any such event since January 1, 2003, and there is no unfair labor practice charge or complaint pending or, to the Knowledge of the Seller, threatened, against the Seller; 

(iii)

no Action by or before any Governmental Authority brought by or on behalf of any employee, prospective employee, former employee, retiree, labor organization or other representative of the employees of the Seller is pending or, to the Knowledge of the Seller, threatened, against the Seller, and the Seller is not a party to, or otherwise bound by, any consent decree with, or citation by, any Governmental Authority relating to employees or employment practices at the Seller; 

(iv)

no grievance is pending or, to the Knowledge of the Seller, threatened, by any Person or Persons at the Seller against the Seller;

(v)

the Seller is in compliance in all material respects with all applicable Laws, Contracts and policies relating to employment, employment practices, wages, hours, immigration, occupational safety and health, the withholding and payment of Taxes from or with respect to the compensation of employees, and terms and conditions of employment; 

(vi)

the Seller has accrued or paid in full (subject to any good faith dispute) to all of its employees all wages, salaries, commissions, bonuses, benefits and other compensation due to such employees or otherwise arising under any policy, practice, agreement, plan, program, statute or other applicable Law; 

(vii)

to the Knowledge of the Seller, as of the date hereof, no officer or key employee, or any group of key employees, intends to terminate his, her, or their employment with the Seller;

(viii)

to the Knowledge of the Seller, no officer of the Seller is in violation of any material term of any employment, consultant, non-disclosure, non-competition, confidentiality or other equivalent agreement; 

(ix)

since January 1, 2003, the Seller has not closed any Facility, effectuated any company-wide layoffs of employees or implemented any early retirement, separation or window program, nor has the Seller planned or announced any such action or program for the future; and

(x)

the Seller is in compliance in all material respects with its obligations pursuant to WARN, and all other notification and bargaining obligations arising under any collective bargaining agreement or statute.

For purposes of this Section 3.9, the Seller shall mean the Seller and the Hong Kong Subsidiary.

3.10   

Contracts.

(a)    

The Seller Disclosure Schedule contains a complete and correct list of all Contracts (other than Intellectual Property Contracts required to be listed pursuant to Section 3.11 or any Exempt Purchase Order) that involve payments by, or to, the Seller of more than $10,000 per annum or $25,000 in the aggregate, and all Contracts (other than Intellectual Property Contracts required to be listed pursuant to Section 3.11) without regard to dollar amount, or such lower amount expressly set forth, in the following categories:

(i)

commitments or agreements for services for which a prepayment or advance has been made to, or by, or on behalf of, the Seller in excess of $10,000;

(ii)

partnership or joint venture Contracts or arrangements or any other agreements involving a sharing of revenue or profits;

(iii)

Contracts restricting the Seller from carrying on its business or activities, as the case may be, in any material respect in its usual and customary manner in any jurisdiction; 

(iv)

any non-competition agreements in favor of the Seller (other than in connection with employment or consulting agreements);

(v)

each Contract between the Seller and any Affiliate of the Seller;

(vi)

any Contract containing any guarantee or indemnity obligations on the part of the Seller or similar provisions;

(vii)

any Contracts for the sale or other disposition by the Seller of any of its assets, other than the sale or disposition of inventory in the ordinary course of business consistent with past practice;  

(viii)

any loan or credit agreement, promissory note, letter of credit or other Contract to which the Seller is a party, evidencing indebtedness and any guarantee or similar obligation incurred by the Seller;

(ix)

each outstanding loan or advance made by the Seller to any director, officer, employee, shareholder or other Affiliate of the Seller; 

(x)

any Contract for capital expenditures in excess of $25,000; and

(xi)

commitments or agreements not made in the ordinary and regular course of business.

(b)    

Except as set forth in the Seller Disclosure Schedule, the Seller has, with respect to all Contracts required to be listed on the Seller Disclosure Schedule (excluding Intellectual Property Contracts, the representations and warranties with respect to which are set forth in Section 3.11), performed in all material respects all obligations required to be performed by it, and is not in default in any material respect under any such Contract, and, to the Knowledge of the Seller, no other party to any such Contract is in default in any material respect under any such Contract.  Except as set forth in the Seller Disclosure Schedule, no event has occurred which, with the lapse of time or the giving of notice or both, would constitute a default in any material respect by the Seller, or, to the Knowledge of the Seller, by any other party to any such Contract.  For purposes of this Section 3.10(b), representations that are qualified by Knowledge with respect to another party’s compliance shall be deemed not to include the Knowledge qualifier if such other party to the Contract is an Affiliate of the Seller.  The Seller has provided to the Buyer a complete and correct copy of each Contract required to be listed on the Seller Disclosure Schedule.  No such Contract (including, without limitation, any Contract that has not been reduced to writing a description of which is set forth in the Seller Disclosure Schedule) has been amended, modified or terminated, except as expressly noted on the Seller Disclosure Schedule, nor will any such Contract be, amended, modified or terminated as of the Closing Date, except as expressly permitted pursuant to Section 5.1.

3.11   

Intellectual Property.

(a)    

The Seller Disclosure Schedule sets forth a complete and correct list of:  (i) all valid and subsisting registrations and applications for registration in the name of the Seller for trademarks, service marks, trade names, corporate names, brand names, logos, domain names, patents and copyrights included in Intellectual Property, (ii) all common law (i.e., unregistered) trademarks, service marks, trade names, corporate names and logos included in Company Intellectual Property or owned by the Seller that are material to the Business as conducted in the past five years; (iii) all pending Actions (including those in the Patent and Trademark Office and courts in the United States and throughout the world) to which the Seller is a party, or to which the Seller has Knowledge relating to Company Intellectual Property or Intellectual Property owned by the Seller; provided, that in the case of Intellectual Property which is not Company Intellectual Property, Knowledge shall not include the duty to investigate; and (iv) all Intellectual Property Contracts.  

(b)    

The Seller owns, beneficially owns and/or is licensed or otherwise has the right to use, all Company Intellectual Property, free and clear of all Liens (except Permitted Liens).  All registrations for the Intellectual Property required to be set forth in the Seller Disclosure Schedule are valid, subsisting, in full force and effect and have not lapsed, expired or been abandoned; have not been assigned and have been properly maintained by the filing of all necessary declarations and renewals and are free and clear of all Liens (except Permitted Liens).  The Seller has taken all necessary actions to maintain and protect each item of Company Intellectual Property.  All Intellectual Property set forth on the Seller Disclosure Schedule has proper title ownership in the name of the Seller or such other Person(s) set forth on such Seller Disclosure Schedule.  The Seller has placed all notices of Intellectual Property rights required by relevant statutes or other relevant Law on the Seller’s products as required.  

(c)    

The operation of the Business as presently conducted does not infringe, misappropriate or make unauthorized use of, any Intellectual Property of third parties.  Except as disclosed in the Seller Disclosure Schedule, there are no Actions pending or, to the Knowledge of the Seller, threatened, that asserts that the conduct of the Business or the manufacture, sourcing, use, sale of any product, or use of any process, or of any Company Intellectual Property infringes, misappropriates, otherwise violates, dilutes, makes any claim on or against or constitutes the unauthorized use of, any Intellectual Property of third parties.  To the Knowledge of the Seller, and except as disclosed in the Seller Disclosure Schedule, Company Intellectual Property is not being infringed by any Person; and there are no Actions pending or, to the Knowledge of the Seller, threatened, challenging the Seller’s ownership of, right to use, or the validity or enforceability or patentability of any Company Intellectual Property.  Except as set forth in the Seller Disclosure Schedule, there are no restrictions regarding the use of material Company Intellectual Property other than the following restrictions contained in trademark license agreements pursuant to which the Seller licenses trademarks from third parties: (i) restrictions limiting the use of the licensed trademarks solely to men's neckwear, as well as, in certain instances, ascots, pocket squares or formalwear accessories (the "Licensed Products"); (ii) restrictions limiting the sale of Licensed Products to accounts approved by the applicable licensor; (iii) restrictions limiting the sale of Licensed Products to the United States and, in certain cases, Canada; (iv) limitations on terms consistent with industry practice on how the Seller may display the trademark and market the Licensed Products; (v) requirements on terms consistent with industry practice that the applicable licensor approve the design and quality of the Licensed Products, and (vi) other restrictions that are not inconsistent with industry practice. 

(d)    

Except as set forth in the Seller Disclosure Schedule, the Seller has, with respect to all Intellectual Property Contracts, performed in all material respects all obligations required to be performed by it, and is not in default in any material respect under any such Intellectual Property Contract, and, to the Knowledge of the Seller, no other party to any such Intellectual Property Contract is in default in any material respect under any such Intellectual Property Contract.  Except as set forth in the Seller Disclosure Schedule, no event has occurred which, with the lapse of time or the giving of notice or both, would constitute a default in any material respect by the Seller, or, to the Knowledge of the Seller, by any other party to any such Intellectual Property Contract.  For purposes of this Section 3.11(d), representations that are qualified by Knowledge with respect to another party’s compliance shall be deemed not to include the Knowledge qualifier if such other party to the Intellectual Property Contract is an Affiliate of the Seller.  The Seller has provided a complete and correct copy of each Intellectual Property Contract to the Buyer.  No Intellectual Property Contract (including, without limitation, any Intellectual Property Contract that has not been reduced to writing a description of which is set forth in the Seller Disclosure Schedule) has been amended, modified or terminated, except as expressly noted on the Seller Disclosure Schedule, nor will any such Intellectual Property Contract be, amended, modified or terminated as of the Closing Date, except as expressly permitted pursuant to Section 5.1.  Except as set forth in the Seller Disclosure Schedule, the Seller has properly and fully recorded all Intellectual Property Contracts which are required to be recorded or registered with any Governmental Authority anywhere in the world.  The Seller has not affirmatively waived, or does not have actual knowledge of any other waiver of, any of its rights, claims, or remedies arising under, or pursuant to, any Intellectual Property Contract, including such rights, claims or remedies resulting from a breach or other violation of such Intellectual Property Contract.  All Intellectual Property Contracts are free and clear of all Liens (except Permitted Liens).

(e)    

Since December 31, 2001, no present or past employee or officer of, or consultant to, the Seller or any other Person engaged by the Seller to render services to the Seller has entered into any "work made for hire" Contract or other Contract relating to Company Intellectual Property.  No such Person owns, beneficially or otherwise, any rights to any Company Intellectual Property or, to the Knowledge of the Seller, any Intellectual Property owned by the Seller.  

(f)    

The Seller has a website privacy policy that complies with all Laws in all material respects. 

3.12   

Insurance

.  The Seller Disclosure Schedule contains a complete and correct list of all policies of insurance carried by the Seller or pursuant to which the Seller is a named beneficiary or pursuant to which the Business or properties of the Seller is insured and complete and correct copies of which have been provided to the Buyer.  All of such policies are in full force and effect and no notice of cancellation or termination has been received with respect to such policies.  The Seller has notified such insurers of any claim known to them which they believe is covered by any such insurance policy and have provided the Buyer with a copy of such claim.  

3.13   

Financial Statements; Liabilities; Internal Controls.

(a)    

The Seller has provided to the Buyer the audited consolidated balance sheets of the Seller and the U.K. Subsidiary as of, and the audited consolidated statements of income and comprehensive income, stockholders’ equity and cash flows of the Seller and the Excluded Entity for, the years ended December 31, 2005, 2004 and 2003, together with the notes thereto and the opinions of Gumbiner Savett Inc. thereon (collectively, the “Audited Financial Statements”).  The Audited Financial Statements have been prepared from the books and records of the Seller, and present fairly in all material respects, in conformity with GAAP (subject to the GAAP Exceptions), the financial condition, results of operations and cash flows of the Seller on a consolidated basis for the periods and dates covered thereby.  Additionally, the Seller has provided to the Buyer the unaudited consolidated balance sheets of the Seller and the U.K. Subsidiary as of, and the unaudited consolidated statements of income and comprehensive income and stockholders’ equity of the Seller and the U.K. Subsidiary for, the six-month period ended June 30, 2006 (collectively, the “Unaudited Financial Statements”).  The Unaudited Financial Statements have been prepared from the books and records of the Seller, and present fairly in all material respects, in conformity with GAAP (subject to the GAAP Exceptions), the financial condition and results of operations of the Seller on a consolidated basis for such period and date covered thereby, except for adjustments and accruals which are normally made at year end and the absence of footnote disclosures thereto.

(b)    

Except as set forth in the Seller Disclosure Schedule, the Seller does not have any Liabilities that would be required to be reflected as Liabilities on a balance sheet prepared in accordance with GAAP, except Liabilities that (i) are reflected on or accrued or reserved against in the 2005 Balance Sheet, or reflected in any notes thereto, or the June 30 Balance Sheet, or reflected in any notes thereto, or (b) were incurred since June 30, 2006 in the ordinary course of business.

(c)    

The Seller makes and keeps accurate books and records and maintains a system of internal accounting controls over financial reporting that are sufficient to provide reasonable assurance that transactions are properly recorded and records are kept which accurately and fairly reflect, in all material respects, financial activities of the Business, so as to permit the preparation of the Seller’s consolidated financial statements in conformity with GAAP (subject to the GAAP Exceptions).

(d)    

Since December 31, 2005, neither the Seller nor the Principal has been advised of (i) any significant deficiencies in the design or operation of internal controls that could adversely affect the ability of the Seller to record, process, summarize and report financial data and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the internal controls of the Seller.

3.14   

Tax Matters

.  Except as set forth in the Seller Disclosure Schedule:

(i)

the Seller has timely filed all Tax Returns that it was required to file.  All such Tax Returns were correct and complete in all material respects.  All Taxes owed by the Seller (whether or not shown on said Tax Returns) have been paid.  All Taxes that the Seller is or was obligated to withhold from amounts paid to any Person have been fully paid and all filings relating to such payments have been filed.  

(ii)

no Tax proceeding is currently being conducted with respect to the Seller, no issues that had been raised by a Tax Authority with respect to the Seller are pending and the Seller has not received written notification from any Tax Authority that it intends to commence a Tax proceeding with respect to any Tax Return.

(iii)

the Seller Disclosure Schedule lists all federal, state, local and foreign income Tax Returns which have been filed with respect to Seller for taxable periods ended on or after January 1, 2003.  The Seller has delivered to the Buyer correct and complete copies of all income Tax Returns, examination reports and statements of deficiencies assessed against or agreed to by the Seller since January 1, 2003.  

(iv)

there are no Liens for any Tax (other than Taxes not yet due and payable) on the Purchased Assets.  

(v)

none of the Assumed Liabilities is an obligation to make a payment that is not deductible under Code §280G.

3.15   

Absence of Certain Changes and Events

.  Since December 31, 2005, except as set forth in the Seller Disclosure Schedule, the Seller has conducted the Business in the ordinary course thereof consistent with past practice and from such date through the date of this Agreement, with respect to Seller, there has not been any:

(i)

change in the business, assets, liabilities, results of operations or financial condition of the Seller, or any event, condition or contingency (either individually or taken together) that constitutes a Material Adverse Effect;

(ii)

(A) incurrence, payment or discharge of any Liability, (B) sale or transfer of any property, or (C) acquisition or sale, lease, grant of interest in, or other disposition of, any assets or businesses, in each of clauses (A), (B) and (C), other than in the ordinary course of business, consistent with past practice;

(iii)

(A) guarantee or any other assumption of the obligations of any Person, or (B) making of any loan or advance to any Person (other than vacation payments made to hourly factory employees at the L.A. Facility in the ordinary course of business, consistent with past practice);

(iv)

settlement or compromise of any Action if the amount of such settlement will either not be paid in full prior to the Closing or which settlement or compromise would reasonably be expected to have a continuing adverse impact on the Business after the Closing;

(v)

Tax election or change in a Tax election or the filing for any change in any material respect of any method of accounting with the Internal Revenue Service, except as required by any change in Law;

(vi)

change in any method of accounting applied in the preparation of the Financial Statements, other than a change which is required by reason of a concurrent change in Law or GAAP;

(vii)

(A) adoption or amendment in any material respect to any benefit plan or bonus, profit sharing, deferred compensation, incentive, stock option or stock purchase plan, program or commitment, paid time off for sickness or other plan, program or arrangement for the benefit of its employees, consultants or directors, or (B) grant of any increase (other than increases required under any Contact) in the compensation of its employees (including any such increase pursuant to any bonus, profit sharing or other compensation or incentive plan, program or commitment) or any increase (other than increases required under any Contract) in the compensation payable or to become payable to any officer or director;

(viii)

material change or modification in any of the Contracts required to be listed in any Schedule to this Agreement (other than an Exempt Purchase Order), nor has the Seller entered into any Contract (other than an Exempt Purchase Order), except, in each case, in the ordinary and regular course of its business and in no event calling for annual payments by, or to, the Seller in excess of $25,000;

(ix)

the making of any capital expenditures in excess of $25,000; 

(x)

declaration, distribution or the setting aside for distribution of any property, other than cash, or directly or indirectly, the redemption, purchase or otherwise acquisition of any shares of capital stock for property, other than cash, as the case may be; and

(xi)

agreement, whether in writing or otherwise, to take any action described in this Section 3.15.

3.16   

Litigation and Claims

.  Except as set forth in the Seller Disclosure Schedule, there is no Action pending or, to the Knowledge of the Seller, threatened, against or affecting the Purchased Assets or the Business, and there is no Action pending or, to the Knowledge of the Seller, threatened, affecting the propriety or validity of the transactions contemplated hereby or by the Related Agreements.  Except as set forth in the Seller Disclosure Schedule, the Seller is not subject to or in default under or with respect to any Order, and the Seller has not made, and to the Knowledge of the Seller, the Seller has not engaged in making, any illegal payment or payments which would reasonably likely directly or indirectly constitute commercial bribery.

3.17   

Governmental Permits; Compliance with Laws.

(a)    

The Seller owns, holds or possesses all Governmental Permits which are necessary to entitle it to own or lease, operate and use its assets and to carry on and conduct the Business substantially as currently conducted, except for such incidental Governmental Permits which would be obtainable in due course by any qualified applicant without any adverse affect on the Business or any undue burden or cost in the event of any failure to apply, lapse, termination, cancellation or forfeiture thereof.

(b)    

The Seller Disclosure Schedule sets forth a complete and correct list and brief description of each Governmental Permit owned, held or possessed by the Seller as of the date hereof.  Except as set forth in the Seller Disclosure Schedule, (i) the Seller has fulfilled and performed in all material respects its obligations under each of the Governmental Permits which it owns, holds or possesses, and (ii) since December 31, 2001, no written notice of cancellation, of default or of any material dispute concerning any Governmental Permit, or of any event, condition or state of facts described in the preceding clause, has been received by the Seller or the Principal.

(c)    

The Seller is in compliance in all material respects with all Laws which are applicable to the Business.

3.18   

Environmental Matters

.  Except as set forth in the Seller Disclosure Schedule: 

(i)

the Seller is in compliance, in all material respects, with its obligations under applicable Environmental Laws;

(ii)

the Seller has obtained and at all times has been in compliance, in all material respects, with, and has submitted any necessary applications for renewals of, permits required pursuant to Environmental Law;

(iii)

no condition at the L.A. Facility has violated, or is in violation of, in any material respect, any Environmental Law and, to the Knowledge of the Seller, no condition at any other Facility has violated, or is in violation of, any Environmental Law;

(iv)

there are no Environmental Conditions present at, on, or under, the L.A. Facility, and there are no there are no Environmental Conditions present at, on, or under, any other Facility as a result of activities of the Seller or any of its employees or agents, in each case, in amounts exceeding the levels permitted by applicable Environmental Law or under circumstances that would reasonably be expected to result in Liability in any material respect under or relating to Environmental Law;

(v)

the Seller has not disposed of, arranged for the disposal of, released, threatened to release, or transported any Hazardous Substances in violation of any applicable Environmental Law or in a manner that would reasonably be expected to result in material Liability to the Seller;

(vi)

the Seller is not subject to any Actions, is not subject to any Order or has not received any written notice from any Governmental Authority or the current or prior owner or operator of any of any Facility or any other Person, in each case with respect to any actual or potential violation or failure to comply with any Environmental Law or of any actual or threatened Liability under any Environmental Law, or regarding any Hazardous Substances; and to the Knowledge of the Seller, the Seller is not threatened with any such written Action, Order, notice or communication; 

(vii)

the Seller has not contractually assumed any Liability under or relating to Environmental Laws or Hazardous Substances; and

(viii)

since January 1, 2001, there are no Environmental Reports in the custody or control of the Seller relating to any Facility, the Business or activities of the Seller that have not been made available to the Buyer.

3.19   

Employee Plans.

(a)    

The Seller Disclosure Schedule sets forth (i) each employee benefit plan (as defined in Section 3(3) of ERISA) and (ii) each other benefit plan, program, contract or arrangement of any kind whatsoever (whether for the benefit of present, former, retired or future employees, directors, consultants or independent contractors of the Seller) sponsored, maintained or contributed to by the Seller or the Hong Kong Subsidiary, or with respect to which the Seller or the Hong Kong Subsidiary could have any liability, including, without limitation, plans, programs, contracts or arrangements with respect to pension, retirement, profit sharing, deferred compensation, thrift, savings, stock ownership, stock bonus, restricted stock, health, dental, medical, life, hospitalization, disability, relocation, child care, educational assistance, stock purchase, stock option, incentive, bonus, sabbatical leave, vacation, severance, cafeteria, pre-tax premium, flexible spending or other contribution, benefit or payment of any kind, employee severance and change-of-control agreement, contracts or arrangements, and plans, programs, contracts or arrangements providing for contributions, benefits or payments in the event of a change of ownership or control in whole or in part of the Seller or the Hong Kong Subsidiary (all such employee benefit plans and other benefit plans, programs, contracts or arrangements, whether written or oral, hereinafter individually and collectively called the “Employee Plans”).

(b)    

A complete and correct copy of the plan document for each of the Employee Plans, and all amendments thereto, and all contracts and agreements relating thereto, or to the funding thereof (including, without limitation, all trust agreements, insurance contracts, investment management agreements, subscription and participation agreements, administration and recordkeeping agreements) have been provided to the Buyer.  In the case of any Employee Plan that is not in written form, an accurate and complete description of such Employee Plan has been provided to the Buyer.  With respect to each Employee Plan, the Buyer has been provided, as applicable, with a complete and correct copy of each of (i) the three most recent annual reports (Form 5500 series), including all schedules to such annual reports, and (ii) the most recent summary plan description (including summaries of material modification), employee handbooks, Internal Revenue Service determination letter and/or or ruling, and, in the case of any funded Employee Plan, a current schedule of assets (and the fair market value thereof assuming liquidation of any asset which is not readily tradeable) held with respect thereto. 

(c)    

No Employee Plan or any plan sponsored, maintained or contributed to by the Seller or any ERISA Affiliate is subject to Title IV of ERISA.  Neither the Company nor any ERISA Affiliate has completely or partially withdrawn, within the meaning of Title IV of ERISA, from any “multiemployer plan” within the meaning of Section 3(37) of ERISA (each such plan hereinafter, individually and collectively called a “Multiemployer Plan”) or any single-employer plan (within the meaning of Section 4001(a)(15) of ERISA) which has two or more contributing sponsors at least two of whom are not under common control (each such plan hereinafter, individually and collectively, called a “Single-Employer Plan”).  Neither the Seller nor any ERISA Affiliate is a party to, or participates in, or has any liability or contingent liability with respect to any Multiemployer Plan or any Single-Employer Plan.

(d)    

Except as set forth in the Seller Disclosure Schedule, any and all amounts which the Seller is required to pay as contributions or otherwise with respect to the Employee Plans have been timely paid or accrued on the June 30 Balance Sheet.  No Employee Plan subject to Section 302 of ERISA or Section 412 of the Code (other than a Multiemployer Plan) has incurred any “accumulated funding deficiency” (as defined in Section 302 of ERISA and Section 412 of the Code), whether or not waived, and neither the Seller nor any ERISA Affiliate has provided, or is required to provide, security to any Employee Plan.

(e)    

Except as set forth in the Seller Disclosure Schedule, each of the Employee Plans has been established, maintained, operated and administered in all material respects in accordance with its terms and all applicable Law.  Each of the Employee Plans which is intended to be “qualified” within the meaning of Sections 401(a) and 501(a) of the Code (a “Qualified Plan”) has been determined by the Internal Revenue Service to be so qualified and nothing has occurred that could adversely affect such qualified status.  There are no pending or, to the Knowledge of the Seller, threatened proceedings (other than routine claims for benefits) involving any of the Employee Plans.  Except as set forth in the Seller Disclosure Letter, there have been no nonexempt “prohibited transactions” within the meaning of Section 406 of ERISA or Section 4975 of the Code with respect to any of the Employee Plans.

(f)    

Except as set forth in the Seller Disclosure Schedule, each Employee Plan which is a “nonqualified deferred compensation plan” (within the meaning of §Code 409A) has been operated and administered since January 1, 2005 in good faith compliance with §Code 409A and IRS Notice 2005-1 and the other proposed and final guidance under Code §409A.

(g)    

Except as set forth in the Seller Disclosure Schedule, each Employee Plan, and all contracts and agreements relating thereto or to the funding thereof, can be unilaterally terminated by the Seller, without penalty, on no more than 30 days’ notice.  There have been no material changes in the financial condition of the respective Employee Plans (or other information provided hereunder) from that stated in each Employee Plan’s most recent of such annual reports, actuarial reports and schedule of assets furnished to the Buyer. 

(h)    

Except as set forth in the Seller Disclosure Schedule, no Employee Plan provides benefits including, without limitation, death or medical benefits (whether or not insured), with respect to any employees, former employees or directors of the Seller beyond their termination of service for any reason, other than (i) coverage mandated by applicable Law, (ii) death benefits or retirement benefits under any “employee pension plan,” as that term is defined in Section 3(2) of ERISA, or (iii) disability benefits.

(i)    

Except as set forth in the Seller Disclosure Schedule, the execution and delivery by the Seller of this Agreement and the Related Agreements and the consummation by the Seller of the transactions contemplated hereby or by the Related Agreements shall not (either alone or upon the occurrence of additional events or acts) (x) require the Seller to make any payment to, or obtain any consent or waiver from, any officer, director, employee, consultant or agent of any ERISA Affiliate or (y) accelerate vesting or payment of any benefits or any payments, increase the amount or value of any benefit or payment or result in the payment of or obligation to pay any “excess parachute payment” (within the meaning of Code §280G). 

3.20   

Receivables

.  All accounts and other receivables of the Seller whether reflected on the 2005 Balance Sheet or otherwise (i) represent actual amounts incurred and owing by the applicable account debtors, (ii) arose from bona fide transactions entered into in the ordinary course of business, (iii) to the Knowledge of the Seller, are not subject to contest, claim, or right of set off, other than returns in the ordinary course of business, and (iv) the reserves against such receivables set forth in the Seller Disclosure Schedule have been reasonably determined based on past practice and in accordance with GAAP (subject to the GAAP Exceptions).  There have not been any write-offs as uncollectible of any customer accounts receivable of the Seller from June 30, 2006 through the date hereof, except, in any event, for non-material write-offs in the ordinary course of business.  The Seller Disclosure Schedule contains a complete and correct list of all accounts and other receivables as of the date hereof, which list sets forth the aging of such accounts and other receivables.

3.21   

Inventory

.  Except as set forth in the Seller Disclosure Schedule, all of the Seller’s inventory has been acquired by the Seller in the ordinary course of business and is of a quantity and quality reasonable for use in the Business, all consistent with past practices.  All such inventory is owned free and clear of any Liens (other than Permitted Liens).  

3.22   

Customers

.  The Seller Disclosure Schedule contains a complete and correct list of the ten largest customers of the Business as of the date hereof based on the Seller’s revenues in the year ended December 31, 2005.  Except as set forth in the Seller Disclosure Schedule, no customer, constituting one of the ten largest customers of the Business at any time during the previous five fiscal years of the Seller, has ceased doing business with, or materially lessened its business with, the Seller.  No customer required to be listed on the Seller Disclosure Schedule has since December 31, 2005 threatened in writing to cancel or otherwise to terminate its relationship with the Seller.

3.23   

Suppliers

.  The Seller Disclosure Schedule contains a complete and correct list of the ten largest suppliers of the Business as of the date hereof. No supplier required to be listed on the Seller Disclosure Schedule has since December 31, 2005 threatened in writing to cancel or otherwise to terminate its relationship with the Seller.

3.24   

Products

.  There is no pending or, to the Knowledge of the Seller, threatened (a) recall or investigation of, with respect to, any product manufactured, distributed or sold by, or on behalf of the Seller or (b) claim against the Seller deriving from the provisions of applicable Law governing (x) manufacturers’ and distributors’ Liabilities for the safety of such products or (y) manufacturers’ Liabilities alleging the defectiveness of such products, other than ordinary course claims of customers of the Business or consumers of the products of the Business which are immaterial.

3.25   

Bank Accounts

.  The Seller Disclosure Schedule contains a complete and correct list of the names and locations of all banks and other financial institutions at which the Seller maintains a bank, savings, deposit or custodial account or safe deposit box, together with the applicable account numbers and names and identification of all Persons authorized to draw thereon or to have access thereto (including Persons holding powers of attorney or agency authority from the Seller).  Except as set forth in the Seller Disclosure Schedule, the Seller does not receive any payments from third parties under any name other than “Superba, Inc.” 

3.26   

No Finder

.  Other than Financo, Inc., neither the Seller nor any party acting on its behalf, has paid or become obligated to pay any fee or commission to any broker, finder or intermediary for or on account of the transactions contemplated hereby or by the Related Agreements.

3.27   

No Reliance

.  

Except for the representations and warranties made herein, in any Related Agreement or in any certificate to be delivered hereunder, the Seller makes no representation or warranty express or implied, at law or in equity, and any such other representations or warranties are hereby expressly disclaimed.  Without limiting the generality of the foregoing, the Seller makes no representation or warranty with respect to any projections relating to the Business heretofore delivered to or made available to the Buyer or its counsel, accountants or advisors of future revenues, expenses or expenditures or future results of operations of the Business.

ARTICLE IV.

REPRESENTATIONS AND WARRANTIES OF THE BUYER

The Buyer represents and warrants to the Seller as follows:

4.1   

Organization; Good Standing

.  The Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 

4.2   

Authority; Execution and Delivery; Enforceability

.  The Buyer has full corporate power and authority to execute and deliver this Agreement and the Related Agreements, to perform its obligations hereunder and under the Related Agreements and to consummate the transactions contemplated hereby and by the Related Agreements.  All corporate acts and other proceedings required to be taken by the Buyer to authorize the execution, delivery and performance of this Agreement and the Related Agreements have been duly and properly taken.  Each of this Agreement and (when executed) the Related Agreements has been (or will be) duly executed and delivered by the Buyer, and constitutes (or will, when executed, constitute) the legal, valid and binding obligation of the Buyer, enforceable against the Buyer in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, moratorium and other similar Laws of general applicability relating to or affecting creditors’ rights and to general equity principles.  

4.3   

Non-Contravention

.  Assuming the consents described in Section 4.4 have been received, the execution and delivery by the Buyer of this Agreement and the Related Agreements by the Buyer does not, and the consummation by the Buyer of the transactions contemplated hereby and by the Related Agreements and compliance by the Buyer with the terms hereof and of the Related Agreements, will not:

(i)

constitute a violation or breach of the certificate of incorporation or the by-laws of the Buyer;

(ii)

constitute a default under or a violation or breach of, or result in the acceleration of any obligation of the Buyer under, any provision of any material contract or other instrument to which the Buyer is a party or by which any of the assets of the Buyer may be affected; or

(iii)

violate any Order or any Law affecting the Buyer or its assets.

4.4   

Consents and Approvals

.  No consent, approval, license, permit, order or authorization of, or registration, declaration or filing with, any Governmental Authority, and no consent or approval of any Person, is required to be obtained by or on behalf of the Buyer in connection with the execution, delivery and performance by the Buyer of this Agreement or the Related Agreements or the consummation of the transactions contemplated hereby and by the Related Agreements, other than compliance with and filings under the HSR Act and similar Laws of any jurisdiction.

4.5   

Litigation and Claims

.  There is no Action pending or, to the knowledge of the Buyer, threatened, against or affecting the Buyer with respect to the propriety or validity of the transactions contemplated hereby or by the Related Agreements.

4.6   

No Restrictions on Business

.  The Schedule I License Agreements are the only contracts, agreements or arrangements that the Buyer or any of its subsidiaries are a party to relating to the wholesale distribution of neckwear in the United States or Canada which expire prior to the last day of the Third Measurement Period.  The Buyer has provided to the Seller a complete and correct copy of each Schedule I License Agreement.  Neither the Buyer nor any of its subsidiaries is a party to any license agreement or non-competition agreement which would have a material adverse effect on the Business as presently conducted; provided, however, the parties acknowledge and agree that the Buyer is a party to the Neckwear License Agreements and performance of the Neckwear License Agreements shall not be deemed a breach of this Section 4.6.  

4.7   

No Finder

.  Other than Peter J. Solomon Company, neither the Buyer nor any party acting on its behalf has paid or become obligated to pay any fee or commission to any broker, finder or intermediary (other than counsel) for or on account of the transactions contemplated hereby or by the Related Agreements.

4.8   

No Reliance

.  

Except for the representations and warranties made herein, in any Related Agreement or in any certificate to be delivered hereunder, the Buyer makes no representation or warranty express or implied, at law or in equity, and any such other representations or warranties are hereby expressly disclaimed.

ARTICLE V.

ACTION PRIOR TO THE CLOSING DATE

From and after the execution of this Agreement until the Closing Time (or earlier termination of this Agreement in accordance with Section 10.1):

5.1   

Conduct of Business.

(a)    

The Seller shall, and the Principal shall cause the Seller to, (i) continue to conduct the Business in the ordinary course thereof, consistent with past practice, and use its commercially reasonable efforts to maintain the Business and the Purchased Assets in substantially the same manner as heretofore, carry on its business’ practices in substantially the same manner as heretofore and keep its books of account, records and files in a manner consistent with past practice, (ii) use its commercially reasonable efforts to preserve the organization of the Seller intact, to retain the services of the employees of the Seller and to preserve the goodwill of the licensors, customers and suppliers of the Seller and others having business relationships with the Seller, (iii) pay and perform all of the Liabilities of the Seller as and when due consistent with past practice, and pay and perform under all Intellectual Property Contracts consistent with past practice (to the extent past practice was not objected to by any other party thereto) and under all other Contracts in accordance with the terms and provisions thereof; (iv) maintain all Company Intellectual Property in a manner consistent with past practices and not take any action adverse to the preservation of such Company Intellectual Property, (v) fully satisfy all obligations, on a timely basis, under each Employee Plan, including, without limitation, all contribution obligations, and to administer, operate and maintain each Employee Plan in accordance with its terms and all applicable Law, including with respect to any Qualified Plan, the qualification requirements of the Code, and (vi) use the same efforts as heretofore used to comply with all Laws applicable to the Business.

(b)    

Notwithstanding Section 5.1(a) hereof, the Seller shall not, and the Principal shall cause the Seller to not, without the prior written consent of the Buyer: 

(i)

make any material change in the Business;

(ii)

(A) incur any Liability, other than a Liability that is not an Assumed Liability, (B) sell or transfer any property, or (C) acquire or sell, lease, grant an interest in or dispose of any assets (other than an Excluded Asset) or businesses (other than the U.K. Subsidiary, in each case, other than in the ordinary course of business consistent with past practice or with respect to an Excluded Entity;

(iii)

(A) guarantee or assume any other obligation of any Person, or (B) make any loan or advance to any Person; 

(iv)

waive any right of value owed to, cancel any debt owed to, or claims held by, the Seller, except in the ordinary course of business consistent with past practice;

(v)

settle or compromise any Action, which amount of such settlement or compromise is not paid in full prior to the Closing or which such settlement or compromise would reasonably be expected to have a continuing adverse impact on the Business after the Closing;

(vi)

make any Tax election or change a Tax election or file for any change in any material respect of any method of accounting with the Internal Revenue Service, except as required by any change in Law;

(vii)

revoke the Seller’s election to be taxed as an S corporation within the meaning of Sections 1361 and 1362 of the Code, or the comparable elections or status for applicable state and local Tax purposes, or take or permit to be taken any action that might have the effect of terminating any such election or status;

(viii)

make any change in the methods of accounting or accounting principles applied in the preparation of the financial statements of the Seller other than a change which is required by reason of a concurrent change in Law or GAAP;

(ix)

revalue any of the Purchased Assets, including the write-off of accounts or other receivables, other than in the ordinary course of business;

(x)

request or require any Person to accelerate the payment of, factor, or write-off or otherwise reduce amounts owing by any Person in respect of, the accounts and other receivables of the Seller, except in the ordinary course of business or as otherwise required by GAAP;

(xi)

defer the payment of the accounts payable of the Seller beyond the due date or modify the Seller’s credit policies relating to the Business;

(xii)

take any other action not in the ordinary course of business which affects the Closing Date Working Capital, including accelerating the shipment of inventory of the Seller or taking any other action which would accelerate the sales of any products of the Seller;

(xiii)

(A) except as required by law, adopt, terminate, amend in any material respect, fund (with the exception of contributions to the Seller’s 401(k) Plan) or secure any Employee Plan, (B) grant any increase (other than increases required under a Contract) in the compensation of any of its employees, directors, consultants or independent contractors (including any such increase pursuant to any Employee Plan) or any increase (other than increases required under a Contract) in the compensation payable or to become payable to any officer or director, or (C) take any action to or permit any ERISA Affiliate to take any action to completely or partially withdraw (within the meaning of Section 4201 of ERISA) from any Multiemployer Plan or withdraw (within the meaning of Section 4063 of ERISA) from any Single-Employer Plan or incur any liability under Title IV of ERISA (other than the timely payment of premiums);

(xiv)

take any action to hire any new employee or engage any new independent contractor, other than in the case of replacing an existing employee or independent contractor in the ordinary course of business, and so long as such Person receives compensation comparable to the exiting employee or independent contractor, as the case may be, but in no event requiring annual payments in excess of $100,000; 

(xv)

enter into, amend or modify any Contract (other than an Excluded Contract or any Exempt Purchase Order), except in the ordinary course of business and in no event calling for annual payments, in a new Contract, or an increase in annual payments, if an amendment or modification, by, or to, the Seller in excess of $5,000; provided, however, that the Seller shall use its commercially reasonable efforts to enter into new agreements, or extensions of the existing agreements, with each of the merchandise coordinators listed on the Seller Disclosure Schedule (except for agreements with those merchandise coordinators that the Seller in consultation with the Buyer determines not to renew) and on substantially the same terms as their existing agreements listed on the Seller Disclosure Schedule to provide for their continued services through December 31, 2007;  

(xvi)

terminate any Intellectual Property Contract or take any action, or omit to take any action, that would result in the abandonment, loss, cancellation or loss in value of any item of Company Intellectual Property or Intellectual Property owned by the Seller or knowingly breach any Intellectual Property Contract;

(xvii)

enter into, amend or modify any collective bargaining agreements;

(xviii)

authorize, undertake, or enter into any commitment with respect to, capital expenditure projects individually in excess of $5,000 or in the aggregate in excess of $25,000;

(xix)

declare, set aside or make any distributions of property other than cash, in respect of the capital stock of any subsidiary of the Seller, or agree to do any of the foregoing; 

(xx)

make or agree to make any payment or distribution of assets to the Principal or any other shareholder of the Seller or their Affiliates, by way of dividend, repurchase, retirement or redemption of capital stock or otherwise, except payments or distributions of cash or Excluded Assets;

(xxi)

fail to maintain in force, or make any change in (except in the ordinary course of business), the insurance contemplated by Section 3.12 (or substantially equivalent replacement coverage); 

(xxii)

subject to Section 6.2(f), issue any communication to employees of the Seller with respect to compensation, benefits or employment continuation or opportunity following the Closing, except as required by Law or as agreed to by the Buyer and the Seller; 

(xxiii)

create any subsidiary or enter into any partnership or joint venture agreement or arrangement or any other agreement involving a sharing of revenue or profits; or

(xxiv)

agree, whether in writing or otherwise, to do any of the foregoing.

5.2   

No Breach of Representations and Warranties; Notification of Certain Matters

.  Each of the Seller, the Principal, and the Buyer will use its reasonable best efforts to refrain from taking any action, and each of them will endeavor in good faith not to permit any event to occur, which (a) would cause the conditions set forth in Section 7.1 and Section 8.1, respectively, not to be satisfied, or (b) would otherwise prohibit such party from consummating the transactions contemplated hereby or by any Related Agreement.  The Seller, the Principal or the Buyer, as the case may be, will, in the event of or promptly after becoming aware of the occurrence of, any matter that would prevent it from consummating the transactions contemplated hereby or by any Related Agreement, give detailed notice thereof to the Seller, the Principal or the Buyer, as the case may be.  The Seller, the Principal or the Buyer, as the case may be, will, after becoming aware of the occurrence of any matter that constitutes a material breach of any of such Person’s representations and warranties contained in Article II, Article III or Article IV, as applicable, give detailed  notice thereof to the Seller, the Principal or the Buyer, as the case may be, and each of the Seller, the Principal and the Buyer, as the case may be, shall use its commercially reasonable efforts to cure such breach if such breach is curable.  None of the disclosures pursuant to this Section 5.2 will be deemed to qualify, modify, or amend or supplement the representations, warranties or covenants of any party.

5.3   

Access

.  Subject to the terms of the Confidentiality Agreement, the Seller shall, and the Principal shall cause the Seller to, afford the Buyer’s employees, auditors, legal counsel and other authorized representatives and advisors all reasonable opportunity and access during normal business hours to inspect, investigate and audit the assets, liabilities, Contracts, operations and the Business and to interview the employees and officers of the Seller.  Such rights of access shall be exercised in a manner that does not unreasonably interfere with the operations of the Seller.  The Seller and the Principal shall also permit the Buyer to meet privately with the licensors and other business partners of the Business to discuss the business conducted between them.  Without limiting the foregoing, subject to applicable Law, the Seller shall provide the Buyer with access to the employment records of the Transferred Employees, including, but not limited to, information regarding salary, title, position, bonus, incentive compensation, fringe benefits and accrued vacation.

5.4   

Standstill

.  Neither the Seller nor the Principal shall, and shall not permit any of their respective officers, directors, employees, agents or Affiliates to, (i) solicit or encourage, directly or indirectly, any inquiries, discussions or proposals for, (ii) continue, propose or enter into negotiations looking toward, or (iii) enter into any agreement or understanding providing for, any acquisition of the capital stock or any of the material assets of the Seller (other than this Agreement and the transactions contemplated hereby) or any transaction similar to the arrangement described herein that would have the effect of precluding the consummation of the transactions contemplated hereby (an “Acquisition Transaction”); nor shall any of such Persons provide any information to any Person (other than the Buyer and its representatives) for the purpose of evaluating or determining whether to make or pursue any inquiries or proposals with respect to any such transaction.  Such Persons agree to inform the Buyer in writing by facsimile promptly following the receipt by any of them of any inquiry, proposal, offer or bid (including the terms thereof and the identity of the Person making such inquiry, proposal, offer or bid) in respect of any Acquisition Transaction.  This Section 5.4 shall not apply to a transaction solely involving the sale, disposal and/or liquidation by the Seller of any Excluded Entity or its assets.

5.5   

Notice of Litigation

.  Promptly after becoming aware of the occurrence of or the threatened occurrence of any Action against or affecting the Purchased Assets or the Business, such Person shall give detailed notice thereof to the Buyer.

5.6   

Fulfillment of Conditions to the Buyer’s Obligations

.  The Principal shall, and shall cause the Seller to, use reasonable best efforts to effectuate the transactions contemplated hereby and by the Related Agreements and to fulfill the conditions to the Buyer’s obligation contained in Article VII.

5.7   

Fulfillment of Conditions to the Seller’s Obligations

.  The Buyer shall use reasonable best efforts to effectuate the transactions contemplated hereby and by the Related Agreements and to fulfill the conditions to the Seller’s obligation contained in Article VIII.

5.8   

Governmental Consents

.  Each of the Buyer, the Seller and the Principal shall as promptly as practicable following the execution and delivery of this Agreement make all filings, notices, petitions, statements, registrations, submissions of information, application or submission of other documents required by any Governmental Authority in connection with the transactions contemplated hereby and by the Related Agreements, including, without limitation, (i) the notification and report forms with the FTC and the DOJ, and any supplemental information requested in connection therewith pursuant to the HSR Act, and (ii) any other comparable notification forms required by any Governmental Authority.  Each party will cause all documents that it is responsible for filing with any Governmental Authority under this Section 5.8 to comply in all material respects with all applicable Law.  Each such party shall furnish to the other such necessary information and reasonable assistance as the other may request in connection with its preparation of such filings or submissions.  Each such party shall keep the other apprised of the status of any communications with, and any inquiries or requests for additional information from, any Governmental Authority and shall comply promptly with any such inquiry or request.  Each such party shall use its reasonable best efforts to obtain any clearance required under applicable Law for the consummation of the transactions contemplated hereby and by the Related Agreements.  Filing fees attributable to the filings made pursuant to this Section 5.8 shall be borne by the party responsible for making the filing in connection with the transactions contemplated hereby (it being understood that the Buyer shall pay all filing fees with respect to any filing required under the HSR Act in connection with the transactions contemplated hereby).  Notwithstanding the foregoing, in no event shall the Buyer, the Seller or the Principal agree to any restriction or limitation affecting the Business nor shall the Buyer, the Seller or the Principal be required to dispose of (or otherwise agree to restrict in any manner or at any time) any of its Affiliates, subsidiaries, assets or businesses in connection with, or in furtherance of, any clearance or approval under the HSR Act or any other filings with any Governmental Authority.

5.9   

Third Party Consents

.  The Seller and the Principal shall use their respective reasonable best efforts (without the obligation to make payment other than obligations when and as required under existing Contracts) to obtain all consents from parties to Contracts which are required by the terms thereof to be obtained in connection with the transactions contemplated hereby and by the Related Agreements.

5.10   

Publicity

.  No public release or announcement concerning the transactions contemplated hereby or by the Related Agreements shall be issued by any party without the prior consent of the other party (which consent shall not be unreasonably withheld or delayed), except as such release or announcement may be required by Law or the rules or regulations of any U.S. or foreign securities exchange, in which case the party required to make the release or announcement shall allow the other party reasonable time to comment on such release or announcement in advance of such issuance and shall make a reasonable effort to take into account such comments.

5.11   

Employment Agreements

.  The Seller shall use its commercially reasonable efforts to assist the Buyer in obtaining executed copies of the Employment Agreements at or prior to the Closing Time.

ARTICLE VI.

OTHER AGREEMENTS OF THE PARTIES

6.1   

Cooperation in Litigation

.  From and after the Closing Date (until the third anniversary of the last day of the Third Measurement Period), each party shall provide to the other such cooperation as may reasonably be requested in connection with the defense of any litigation relating to the Business whether existing on the Closing Date or arising thereafter out of, or relating to, an occurrence or event happening before the Closing Date.

6.2   

Employees.

(a)    

From and after the date hereof until the Closing Time, the Seller shall, and the Principal shall cause the Seller to, use its reasonable best efforts to assist the Buyer in retaining, subsequent to the Closing Time, all employees of the Seller and the Hong Kong Subsidiary.  

(b)    

The Buyer will offer to employ each employee of the Seller, other than the Excluded Employee, commencing on the Closing Date, with initial compensation and benefits which in the aggregate are no less favorable than those provided immediately prior to the Closing Date.  Each such employee who accepts such employment and commences employment with the Buyer is herein referred to as a “Transferred Employee”.  Notwithstanding the foregoing, any such employee who is on an approved leave of absence on the Closing Date shall become a Transferred Employee on the date such employee commences employment with the Buyer.  Notwithstanding the foregoing, nothing herein shall be deemed to require the Buyer to continue to offer employment to any such employee other than to the extent required by Law.  Nothing herein shall prevent the Buyer from changing the compensation or benefits of the Transferred Employees subsequent to the Closing Date.  The Seller shall be solely liable for any severance payments due to any of its employees not willing to accept the Buyer’s offer of employment and as a result of the employees’ termination or layoff from employment with the Seller prior to or as of the Closing Date notwithstanding the Buyer’s offer of employment and hiring of any employees.  

(c)    

The Buyer shall assume all of the Employee Plans (other than vacation, which shall be treated as described in Section 6.2(e)) as of the Closing Date, but not for Liabilities with respect to events occurring prior to the Closing Time, and shall initially provide coverage for Transferred Employees under the Employee Plans, with credit given for years of service with the Seller, except as provided in Section 6.2(d).  Nothing in this Agreement shall prevent the Buyer from amending or terminating any of the Employee Plans at any time after the Closing Time.

(d)    

Each Transferred Employee will receive service credit for all periods of employment with the Seller prior to the Closing Date for purposes of eligibility and vesting under any employee plan within the meaning of Section 3(3) of ERISA in which such Transferred Employee participates after the Closing Date, but specifically excluding credit for benefit accrual purposes.

(e)    

At the Closing, the Seller shall deliver to the Buyer a schedule showing the accrued vacation entitlement with the Seller for each salaried employee of the Seller that is expected to become a Transferred Employee.  Prior to the Closing, the Seller shall cooperate with, and assist, the Buyer in seeking the written consent of salaried employees of the Seller, other than the Excluded Employee, who have accrued but unused vacation time to the conversion of such time into Bonus Time and associated vacation pay into the Bonus Time Accruals, and the substitution of the Buyer for the Seller as the obligor with respect thereto.  The Buyer shall reasonably accommodate each salaried Transferred Employee who executes such a consent to permit such Transferred Employee to take his or her Bonus Time; provided, however, that if any such Transferred Employee does not use his or her Bonus Time by December 31, 2007, the Buyer shall have the right to pay such Transferred Employee an amount equal to his or her Bonus Time Accruals in lieu of permitting the Transferred Employee to use the Bonus Time.  The Buyer shall be under no obligation to accommodate requests to use Bonus Time in excess of what is shown on the schedule delivered pursuant to the first sentence of this Section 6.2(e).  The Seller shall transfer to the Buyer at the Closing an amount equal to the total cost of accrued vacation pay of all salaried employees who are expected to become Transferred Employees from whom a valid consent has been obtained and which accrued vacation entitlement is converted into Bonus Time for said employees during their employment with the Buyer, and, subject to the last sentence of this Section 6.2(e), the Buyer shall be solely responsible for the payment of such amount to such Transferred Employees as herein provided.

 The Bonus Time is an accommodation provided to the applicable Transferred Employees and is not a part of and is entirely separate from the vacation accrual benefit such Transferred Employees are entitled to receive from the Buyer under the Buyer’s vacation benefit for its employees.  The Bonus Time shall be administered separately from the Buyer’s vacation benefit provided to Transferred Employees.

 Notwithstanding anything herein to the contrary, the Seller shall be responsible to pay vacation accruals for (i) all of its non-salaried employees, (ii) for any salaried Transferred Employee who does not execute a consent in accordance with this Section 6.2(e) prior to the Closing, even if at the time the schedule delivered pursuant to this Section 6.2(e) it is anticipated that such a consent will be delivered (or if such consent has been delivered but is revoked prior to the Closing), (iii) for any salaried employee of the Seller who does not become a Transferred Employee, even if at the time the schedule delivered pursuant to this Section 6.2(e) it is anticipated that such employee is to become a Transferred Employee and (iv) time in excess of what is shown on such schedule.  In the event that the Seller pays amounts to the Buyer under this Section 6.2(e) with respect to an employee that either does not become a Transferred Employee or has not delivered a valid consent (or revokes a valid consent prior to the Closing), the Buyer shall return such amounts to the Seller for the Seller to pay vacation accruals to such employees.  

(f)    

Within 30 days after the date of this Agreement, the Buyer and the Seller shall prepare a statement in form and substance satisfactory to the Buyer and the Seller to be released to the employees of the Seller and the Hong Kong Subsidiary with respect to the transactions contemplated hereby, including compensation, benefits and employment continuation or opportunity following the Closing.  If the Seller, in good faith, determines that it is necessary or advisable for it to issue a notice under WARN or any comparable applicable state Law, the Seller shall have the right to include such notice as part of the materials distributed to the employees.

(g)    

Effective as of the Closing Date, the Buyer shall offer employment to all employees of the Hong Kong Subsidiary (other than employees who are providing services to Michelsons Limited) on terms and conditions which are in the aggregate no less favorable than those enjoyed by such employees immediately prior to the Closing Date; provided, however, that in the event that the Buyer shall not have established a representative office in Shengzhou Province prior to the Closing Date, then the Buyer shall notify the Seller (at least 15 Business Days prior to the Closing Date) and not offer employment to such employees until the date on which such representative office is established (the “Delayed Offer Date”) and during the period from the Closing Date until the Delayed Offer Date, the Seller shall cause the Hong Kong Subsidiary to continue to employ such employees, and effective on the Closing Date the Buyer and the Seller shall enter into the Transition Services Agreement; provided, however, that in no event shall the Hong Kong Subsidiary be obligated to employ such employees beyond the one year anniversary of the Closing Date.  The Hong Kong Subsidiary shall be responsible to provide (and the Seller shall cause the Hong Kong Subsidiary to provide) the employees of the Hong Kong Subsidiary with notice of the termination of their employment as and to the extent required by applicable Law or contract.

6.3   

Non-Competition, Non-Solicitation, Non-Derogation and Confidentiality.

(a)    

From and after the Closing Date (until the third anniversary of the last day of the Third Measurement Period), each of the Seller and the Principal shall not, directly or indirectly, engage in, be employed by, be a consultant to, own, manage, operate, provide financing to, control or participate in the ownership, management or control of, or otherwise have an interest in, or aid or assist any other Person in the conduct of, any Restricted Business or any Person who is engaged in any Restricted Business; provided, however, that the Seller and the Principal shall not be precluded from ownership of (i) the Buyer’s issued and outstanding stock or other securities of the Buyer (and any successors thereto), or (ii) less than 2% of the issued and outstanding stock or other securities of a corporation listed on a national securities exchange, electronic quotation and trading system or traded in the over-the-counter market.  For purposes of this Section 6.3, “Restricted Business” means the business of developing, designing, manufacturing or causing the manufacture of, distributing, merchandising and licensing, throughout the world, neckwear and related products; provided, however, that for a period of one year following the Closing Date, ownership of the Excluded Entities by the Seller or the Principal shall not constitute ownership of a Restricted Business, and the Principal shall be permitted to dedicate a portion of his business time and attention to the sale, disposal and/or liquidation of the Excluded Entities or their assets, so long as the time dedicated to such sale, disposal and/or liquidation does not significantly interfere with the Principal’s services to be rendered under the M. Mandelbaum Employment Agreement.  

(b)    

From and after the Closing Date, until the third anniversary of the last day of the Third Measurement Period, each of the Seller and the Principal shall not, without the prior written consent of the Buyer, directly or indirectly, for or on behalf of itself or himself or any other Person, employ or solicit for employment any officer, executive or employee of the Buyer or its subsidiaries or the Business at the time of such solicitation or hiring or during the immediately preceding six-month period or cause or seek to cause any such individual to leave the employ of the Buyer; provided, however, that this Section 6.3(b) will not prohibit the Principal from employing or soliciting for employment Danielle Mandelbaum at any time following the Third Measurement Period, as long as such employment relates to a business which is not a Restricted Business; and provided, further, that this Section 6.3(b) will not be deemed to apply to a general solicitation to the public not targeted at employees of the Buyer or its subsidiaries.

(c)    

From and after the Closing Date, each of the Seller and the Principal shall not make, and shall not direct or instruct any family member, friend, agent or representative to make any comment or act in any manner, which is derogatory towards, or which is not respectful, complimentary and supportive of, the Buyer or any of its subsidiaries or any of their officers, directors or employees (current or former), their operation of the Business, the Business itself or any products manufactured, sold or distributed by the Buyer, its Affiliates, its licensees or its licensors. The Buyer shall not, and shall cause its Affiliates not to, issue or make any comment or act in any manner which is derogatory towards, or which is not respectful of, the Seller or the Principal or any member of the Principal’s immediate family or any of their respective Affiliates.  Notwithstanding the foregoing, nothing in this Agreement shall prevent the Buyer, the Seller, the Principal or any of their Affiliates from making any such comments that are specifically related to asserting their claims or defending themselves against claims filed in a court of law or with another body exercising arbitration or similar quasi-judicial authority or power or defending itself against claims made by the Buyer, the Seller or the Principal.

(d)    

From and after the Closing Date (until the third anniversary of the last day of the Third Measurement Period), each of the Seller and the Principal will not, directly or indirectly, seek to encourage or induce any vendor or customer of the Buyer or any subsidiary of the Buyer to cease doing business with, or lessen its business with, the Buyer or any subsidiary of the Buyer, or otherwise interfere with or damage (or attempt to interfere with or damage) any of the Buyer’s or its subsidiaries’ relationships with their vendors and customers, except in the ordinary course of the Buyer’s or such subsidiary’s business.

(e)    

Each of the Buyer, the Seller and the Principal acknowledges and agrees that the covenants and agreements contained in this Section 6.3 have been negotiated in good faith by each of them.  Each of the Buyer, the Seller and the Principal further acknowledges that (i) the goodwill associated with the existing Business, vendors, customers and assets of the Business  prior to the transactions contemplated herein is an integral component of the value of the Business to the Buyer and is reflected in the consideration to be received by the Seller and the Principal pursuant to this Agreement, and (ii) the covenants and agreements contained in this Section 6.3 are necessary to preserve the value of the Business for the Buyer following the transaction.  Each of the Seller and Principal further acknowledges that the limitations of time, geography and scope of activity agreed to in this Section 6.3 are reasonable because, among other things: (A) the Buyer and the Seller are engaged in a highly competitive industry and their operations are worldwide, (B) the Seller and the Principal have unique access to, and will continue to have access to, Confidential Information, including trade secrets, and know-how of the Business, (C) the Seller and the Principal is receiving significant consideration in connection with the transactions contemplated herein and (D) this Section 6.3 provides no more protection than is necessary to protect the Buyer's interest in the goodwill of the Business, Confidential Information and trade secrets.  If any one or more of the provisions contained in this Section 6.3 shall be held to be excessively broad as to scope, territory or period of time, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable Law. 

(f)    

Except as required by Law, each of the Seller and the Principal shall hold in confidence all Confidential Information obtained in the course of its ownership of or participation in, the Business (whether obtained prior to or following the Closing Time) or otherwise which is either non-public, confidential or proprietary in nature.  Each of the Seller and the Principal shall, subject to any requirement of Law, keep such Confidential Information confidential and shall not, without the prior written consent of the Buyer, be disclosed by it or him to any Person.  Notwithstanding the foregoing, the Seller or the Principal may disclose Confidential Information if and only to the extent such disclosure (x) is reasonably necessary for the purpose of the Seller or the Principal asserting its or his rights in a dispute among the parties hereunder or under any Related Agreement or (y) is required in connection with the preparation of a Tax Return or similar Tax-related filing.  The Seller and the Principal will use their best efforts to limit such disclosure of the Confidential Information.  It is acknowledged by the Principal that, without limiting the foregoing, the policies and procedures of the Buyer relating to confidentiality matters shall be complied with by the Principal following the Closing Date.

(g)    

The Buyer shall be entitled to seek equitable relief, including injunction and specific performance, in the event of any breach of the provisions of this Section 6.3.  Such remedies shall not be deemed to be the exclusive remedies for a breach of this Section 6.3 by the Seller or the Principal but shall be in addition to all other remedies available at Law or equity (subject to the provisions of Article IX).  Failure or delay by the Buyer in exercising any right, power or privilege under this Section 6.3 shall not operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise of any right, power or privilege under this Agreement.  Each of the Seller and the Principal hereby waives any requirement that the Buyer post a bond in connection with any claim for equitable relief.

6.4   

Tax Matters

.  

(a)    

The Seller shall deliver to the Buyer a non-foreign affidavit dated as of the Closing Date, sworn under the penalty of perjury and in form and substance required under Treasury Regulations issued pursuant to Code §1445 stating that the Seller is not a “foreign person.”

(b)    

The parties shall use or cause their respective Affiliates to use the standard procedure set forth in Revenue Procedure 2004-53 with respect to wage reporting. 

(c)    

All applicable transfer Taxes, sales and/or use Taxes, real property transfer or excise Taxes, recording, deed, stamp and other similar Taxes, fees and duties under applicable Law incurred in connection with the transfer of the Business shall be borne by the Seller and the Buyer equally.  The Seller and the Buyer shall jointly prepare or cause to be prepared and file or cause to be filed in a timely manner, all Tax Returns required to be filed with respect to such Taxes.

(d)    

For all Tax purposes, the parties shall report the transactions contemplated by this Agreement in a manner consistent with the terms of this Agreement, and all parties shall file their Tax Returns accordingly.

(e)    

The Seller shall, and shall cause each holder, if any, of rights with respect to the Deferred Purchase Price Payments (in either case, a “Rights Holder”) to, provide to the Buyer two properly completed and executed Internal Revenue Service Forms W-9 or other applicable forms, certificates or documents prescribed by the Internal Revenue Service of the United States certifying as to such Rights Holder’s entitlement to exemption from United States withholding Tax and back-up withholding Tax with respect to the Deferred Purchase Price Payments to be made to such Rights Holder hereunder (“Certificates of Exemption”).  The Seller shall provide such Certificates of Exemption on or before the Closing Date, and shall provide Certificates of Exemption on or before the first Business Day of each calendar year thereafter.  The Seller shall cause each Person that becomes a Rights Holder after the Closing Date to provide Certificates of Exemption on or before the date such Person becomes a Rights Holder and on or before the first Business Day of each taxable year of such Rights Holder thereafter.  The Seller shall, and shall cause each Rights Holder to, provide the Buyer with new Certificates of Exemption (x) upon the obsolescence of any letter, form, certificate or document previously delivered by such Rights Holder to the Buyer hereunder or (y) promptly after the occurrence of any event requiring a change in the status of the Rights Holder or in any of the other information provided on the most recent letter, form, certificate or document previously delivered by the Rights Holder to the Buyer hereunder.  If the Buyer shall provide written notice to a Rights Holder that new Certificates of Exemption are required, and if the Rights Holder does not submit them within 30 days following the receipt of such notice, then the Buyer shall be permitted to deduct all applicable withholding Taxes from the payment due to such Rights Holder.

6.5   

Access to Records.

(a)    

For a period of five years after the Closing Date, the Seller shall afford the Buyer and its representatives reasonable access to all the books and records relating to the Purchased Assets or the Business that the Buyer acquires from the Seller for matters related to the preparation of the Buyer’s Tax Returns, a Tax investigation, or audit of the Buyer.  Such access shall be afforded by the Seller upon receipt of reasonable advance notice and during normal business hours and shall be had or done in such a manner so as not to interfere with the normal conduct of business of the Seller.  The Buyer shall be responsible for any costs and expenses incurred by the Seller in retrieving and copying such books and records at the Buyer’s request.  However, if the Seller shall desire to dispose of any of such books and records prior to the expiration of such five-year period, the Seller shall, prior to such disposition, give 20 Business Days’ notice to the Buyer, and the Buyer shall have the right at its option and expense to segregate and remove such books and records as the Buyer may select from those the Seller desires to dispose of within ten Business Days after receipt of such notice.

(b)    

For a period of five years after the Closing Date, the Buyer shall afford the Seller and its representatives reasonable access to all the books and records relating to the Purchased Assets or the Business that the Buyer acquires from the Seller for matters related to the preparation of the Seller’s Tax Returns, a Tax investigation or audit of the Seller, and in connection with the fulfillment of an indemnification obligation under Article IX.  Such access shall be afforded by the Buyer upon receipt of reasonable advance notice and during normal business hours and shall be had or done in such a manner so as not to interfere with the normal conduct of business of the Buyer.  The Seller shall be responsible for any costs and expenses incurred by the Buyer in retrieving and copying such books and records at the Seller’s request.  However, if the Buyer shall desire to dispose of any of such books and records prior to the expiration of such five-year period, the Buyer shall, prior to such disposition, give 20 Business Days’ notice to the Seller, and the Seller shall have the right at its option and expense to segregate and remove such books and records as the Seller may select from those the Buyer desires to dispose of within ten Business Days after receipt of such notice.

6.6   

Use of Name

.  From and after the Closing Date, neither the Seller nor any of its Affiliates shall use the name “Superba” or any logo, trademark, tradename, assumed name or service mark or other name derived from or confusingly similar thereto, subject to the following:  the Seller will, or cause its Affiliates to, promptly, within 30 days after the Closing Date, terminate use of the “Superba” and “Superb” marks and trade names and change their corporate names to eliminate use of “Superba”, “Superb” or any name confusingly similar thereto provided, however, that the names “Superba” and “Superb” may continued to be used as reasonably required in connection with Tax Returns and other filings with Governmental Authorities with respect to periods prior to the Closing or in connection with the change of name of the Seller and its Affiliates.

6.7   

Letters of Credit; Lockbox Account

.  Prior to the Closing Date, the Buyer will cause (i) the outstanding letter of credit relating to the Park Avenue Property to be replaced by the Buyer and (ii) any lockbox account maintained by the Seller in connection with the Business to be transferred to the Buyer, in each case effective as of the Closing Time.  The Seller shall cooperate with the Buyer and provide such information, instruments and documents that are reasonably requested to effect the foregoing.

6.8   

Cash Available for Checks

.  The Seller shall retain sufficient cash in its checking accounts to cover any obligations of the Seller pursuant to checks written by the Seller prior to the Closing in respect of the Purchased Assets until the earlier of the occurrence of either the clearance of all such checks, one year after the Closing Date or other evidence of payment satisfactory to the Buyer. 

6.9   

Excluded Entities

.  The Seller shall cause the sale, disposal and/or liquidation of the Excluded Entities prior to the one year anniversary of the Closing Date.

6.10   

Reimbursement of Royalty and Advertising Payments

.  Promptly following the Closing Date, the Buyer shall reimburse the Seller for any and all minimum royalty and advertising payments made by the Seller between December 1, 2006 and December 31, 2006 with respect to payments due to licensors for the Seller’s first quarter of 2007 under trademark license agreements pursuant to which the Seller licenses trademarks from third parties.  Such royalty and advertising payments shall not be included in the Closing Date Working Capital as a prepaid advance or otherwise.

6.11   

Further Assurances

(a)    

.  From and after the Closing Date, each party shall, at any time and from time to time, make, execute and deliver, or cause to be made, executed and delivered, for no additional consideration but at the cost and expense of the requesting party (excluding any internal costs incurred, such as having any of the following reviewed by counsel) such assignments, deeds, drafts, checks, returns, filings and other instruments, agreements, consents and assurances and take or cause to be taken all such actions as the other party or its counsel may reasonably request for the effectual consummation and  confirmation of this Agreement and the Related Agreements and the transactions contemplated hereby and by the Related Agreements.  

(b)    

The Seller hereby authorizes and empowers the Buyer, from and after the Closing Time, (i) to receive and open mail addressed to the Seller and (ii) to deal with the contents thereof in any manner the Buyer sees fit, providing such mail and the contents thereof relate to the Purchased Assets or the Business, and promptly to forward all other mail to the Seller.  The Seller and the Principal agree to forward and deliver to the Buyer any telephone calls, mail, checks or other communications, documents and inquiries received by it pertaining to the Purchased Assets or the Business and the Buyer agrees to do the same with respect to the Excluded Liabilities and Excluded Assets.

ARTICLE VII.

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE BUYER

The obligation of the Buyer to consummate the transactions contemplated under this Agreement are subject to the fulfillment of each of the following conditions, any or all of which may be waived in whole or in part by the Buyer, in its sole discretion:

7.1   

Representations and Warranties

.  The representations and warranties of the Principal and the Seller contained in this Agreement shall be true and correct in all respects (disregarding immateriality, materiality, Material Adverse Effect or any derivation of any of the foregoing contained in such representations and warranties), in each case, as of the date of this Agreement and as of the Closing Time, with the same force and effect as if made as of the Closing Time (other than such representations and warranties as are made as of another date, which shall be true and correct as of such date), except where any failure of such representations and warranties to be so true and correct in all respects would not reasonably be expected to result in a Material Adverse Effect.

7.2   

Performance

.  The Seller and the Principal shall each have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by the Seller and the Principal prior to or at the Closing Time.

7.3   

No Material Adverse Effect

.  Between the date of the execution of this Agreement and the Closing Date, the Seller shall not  have suffered or experienced a Material Adverse Effect.  

7.4   

Certificates

.  The Buyer shall have received (a) a certificate of an executive officer of the Seller dated the Closing Date and certifying to the fulfillment on the part of the Seller of the conditions specified in Sections 7.1, 7.2, and 7.3; (b) a certificate of the Secretary or Assistant Secretary of the Seller dated the Closing Date, setting forth the resolutions of the Board of Directors of the Seller adopting and approving this Agreement, the Related Agreements, to the extent a party thereto, and all other documents contemplated hereby and thereby and authorizing the transactions hereby and thereby contemplated; (c) a certificate of the Principal dated the Closing Date and certifying to the fulfillment on the part of the Principal of the conditions specified in Sections 7.1 and 7.2; and (d) such other evidence with respect to the fulfillment of said conditions as the Buyer may reasonably request.

7.5   

Injunctions

.  There shall not be in effect any injunction or restraining order issued by a court of competent jurisdiction in an Action against the consummation of the transactions contemplated hereby or by any Related Agreement.  

7.6   

HSR Act Clearance

.  The transactions contemplated hereby and by the Related Agreements shall have received HSR Clearance.

7.7   

Government Approvals

.  In addition to the HSR Clearance, the parties hereto shall have received all other approvals, if any, from any applicable Governmental Authority where the failure to obtain such approval would prohibit the consummation of the transactions contemplated hereby.

7.8   

Third Party Consents

.  The Seller and the Principal shall have obtained the written consents of the Persons party to the Contracts set forth on the Seller Disclosure Schedule (provided that if any such consent was obtained prior to the date hereof, all such consents shall continue to be in full force and effect as of the Closing Time), in form and substance reasonably satisfactory to the Buyer. 

7.9   

Bill of Sale/Assignment and Assumption Agreement

.  The Buyer shall have received a bill of sale duly executed by the Seller in form and substance reasonably satisfactory to the Buyer, the Assignment and Assumption Agreement duly executed by the Seller and such other conveyances, deeds, assignments, confirmations, powers of attorney, approvals, consents and any and all further instruments as may be necessary, expedient or proper in the reasonable opinion of the Buyer in order to complete any and all conveyances, transfers and assignments herein provided for and to convey to the Buyer such title to the Purchased Assets as the Seller is obligated to transfer.

7.10   

Intellectual Property Agreement

.  The Buyer shall have received the Intellectual Property Agreement duly executed by the Seller.

7.11   

Escrow Agreement

.  The Buyer shall have received the Escrow Agreement duly executed by the Seller, the Principal and the Escrow Agent.

7.12   

Employment Agreements

.  The Buyer shall have received the M. Mandelbaum Employment Agreement duly executed by the Principal and shall have received D. Mandelbaum Employment Agreement duly executed by Danielle Mandelbaum.

7.13   

L.A. Facility

.  The Buyer shall have received the L.A. Facility Lease duly executed by Superb Partners.

7.14   

Transition Services

.  Subject to Section 6.2(g), the Buyer shall have received the Transition Services Agreement duly executed by the Seller.

7.15   

Power of Attorney

.  The Buyer shall have received the Power of Attorney duly executed by the Seller.

7.16   

Landlord Waiver

.  The Buyer shall have received the Landlord Waiver duly executed by Superb Partners.

ARTICLE VIII.

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLER

The obligation of the Seller to consummate the transactions contemplated by this Agreement are subject to the fulfillment of each of the following conditions, any or all of which may be waived in whole or in part by the Seller in its sole discretion:

8.1   

Representations and Warranties

.  The representations and warranties of the Buyer contained in this Agreement shall be true and correct in all respects (disregarding immateriality, materiality, material adverse effect or any derivation of any of the foregoing contained in such representations and warranties), in each case, as of the date of this Agreement and as of the Closing Time, with the same force and effect as if made as of the Closing Time (other than such representations and warranties as are made as of another date, which shall be true and correct as of such date), except where any failure of such representations and warranties to be so true and correct in all respects would not reasonably be expected to result in a material adverse effect on the ability of the Buyer to consummate the transactions contemplated hereby.

8.2   

Performance

.  The Buyer shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by it prior to or at the Closing Time.

8.3   

Certificates

.  The Seller shall have received (a) a certificate of an executive officer of the Buyer, dated the Closing Date, certifying to the fulfillment of the conditions specified in Sections 8.1 and 8.2; (b) a certificate of the Secretary of the Buyer, dated the Closing Date, setting forth the resolutions of the Board of Directors of the Buyer approving this Agreement, the Related Agreements and all other documents contemplated hereby and thereby, and authorizing the transactions hereby and thereby contemplated; and (c) such other evidence with respect to the fulfillment of any of said conditions as the Seller may reasonably request.

8.4   

Injunctions

.  There shall not be in effect any injunction or restraining order issued by a court of competent jurisdiction in an Action against the consummation of the transactions contemplated hereby or by any Related Agreement.  

8.5   

HSR Act Clearance

.  The transactions contemplated hereby and by the Related Agreements shall have received HSR Clearance.

8.6   

Government Approvals

.  In addition to the HSR Clearance, the parties hereto shall have received all other approvals, if any, from any applicable Governmental Authority where the failure to obtain such approval would prohibit the consummation of the transactions contemplated hereby.

8.7   

Assignment and Assumption Agreement

.  The Seller shall have received the Assignment and Assumption Agreement duly executed by the Buyer.

8.8   

Escrow Agreement

.  The Seller and the Principal shall have received the Escrow Agreement duly executed by the Buyer and the Escrow Agent.

8.9   

Employment Agreements

.  The Principal shall have received the M. Mandelbaum Employment Agreement and the D. Mandelbaum Employment Agreement, each duly executed by the Buyer.

8.10   

Transition Services

.  Subject to Section 6.2(g), the Seller shall have received the Transition Services Agreement duly executed by the Buyer.

8.11   

L.A. Facility

.  The Seller shall have received the L.A. Facility Lease duly executed by the Buyer.

ARTICLE IX.

INDEMNIFICATION

9.1   

Survival

.  All indemnifications, representations and warranties made herein (or in certificates delivered hereunder) by the parties to this Agreement and their respective obligations to be performed pursuant to the terms hereof, shall survive the Closing Time, provided, that, the representations and warranties made herein (or in such certificates) by the parties shall terminate on the second anniversary of the Closing Date, except that (i) the representations and warranties set forth in Sections 3.14 (Tax Matters), 3.18 (Environmental Matters) and 3.19 (Employee Plans) shall survive the Closing Time for the applicable statute of limitations, and (ii) the representations and warranties set forth in Sections 2.1 (Authority; Execution and Delivery; Enforceability), 2.2 (Non-Contravention), 3.1 (Organization; Good Standing), and 3.3 (Authority; Execution and Delivery; Enforceability) shall survive the Closing Time indefinitely.  Notwithstanding the foregoing, if notice of any matter setting forth in reasonable detail a claim for a breach of any representation or warranty is given to the Buyer or the Seller, as the case may be, in writing pursuant to this Agreement prior to the end of the applicable survival period, any such representation or warranty that would otherwise terminate shall be deemed to survive solely with respect to such matter until such matter is resolved.

9.2   

Indemnification by the Seller and the Principal.

(a)    

The Principal shall indemnify and hold harmless any Buyer Group Member from and against any and all Damages incurred by such Buyer Group Member arising from: 

(i)

any failure by the Principal to perform any covenants or other obligations of the Principal contained in this Agreement (or in any certificate delivered by the Principal hereunder); 

(ii)

any breach of any representation or warranty of the Principal contained in Article II (or in any certificate delivered by the Principal hereunder); and

(iii)

the allegation in writing by any third party of the existence of any Liability, lease, agreement, Contract, other commitment or state of facts which, if such allegation were true, would have constituted a breach by the Principal of any representation or warranty of the Principal contained in Article II (or in any certificate delivered by the Principal hereunder).

(b)    

Each of the Seller and the Principal, jointly and severally, shall indemnify and hold harmless any Buyer Group Member from and against any and all Damages incurred by such Buyer Group Member arising from:

(i)

any failure by the Seller to perform any covenants or other obligations of the Seller contained in this Agreement (or in any certificate delivered by the Seller hereunder); 

(ii)

any breach of any representation or warranty of the Seller contained in Article III of this Agreement (or in any certificate delivered by the Seller hereunder);

(iii)

the allegation in writing by any third party of the existence of any Liability, lease, agreement, Contract, other commitment or state of facts which, if such allegation were true, would have constituted a breach by the Seller of any representation or warranty of the Seller contained in Article III of this Agreement (or in any certificate delivered by the Seller hereunder); 

(iv)

any failure of the Seller to pay, perform or discharge any of the Excluded Liabilities in accordance with the terms thereof, or the obligations of the Seller under the Excluded Contracts, whether or not disclosed in this Agreement or in any Schedule or Exhibit hereto; 

(v)

the fact that the parties have not taken any action to comply with the provisions of the Uniform Commercial Code relating to bulk transfers as adopted in any applicable jurisdiction or any other applicable bulk sales notification or similar requirement; 

(vi)

without duplication, any Tax liability of the Seller, or Tax liability of the Business to the extent it relates to a period prior to the Closing Date; and

(vii)

any Liability of the Seller associated with (x) a violation of any Environmental Law, or (y) any Environmental Condition present at, on or under any Facility, including, without limitation, the L.A. Facility to the extent such Environmental Condition relates to facts or events that occur prior to the Closing Time.

9.3   

Indemnification by the Buyer

.  The Buyer will indemnify and hold harmless any Seller Group Member from and against any and all Damages incurred by such Seller Group Member arising from:

(a)    

any failure by the Buyer to perform any of its covenants or other obligations in this Agreement (or in any certificate delivered by the Buyer hereunder); 

(b)    

any breach of any representation or warranty of the Buyer contained in Article IV of this Agreement (or in any certificate delivered by the Buyer hereunder);

(c)    

the allegation in writing by any third party of the existence of any Liability, lease, agreement, Contract, other commitment or state of facts which, if such allegation were true, would have constituted a breach by the Buyer of any representation or warranty of the Buyer contained in this Agreement (or in any certificate delivered by the Buyer hereunder); and

(d)    

the failure of the Buyer to pay, perform, discharge any of the Assumed Liabilities in accordance with the terms thereof; provided, however, that the foregoing shall not restrict the Buyer from contesting, in good faith, any disputed third-party Liability.

9.4   

Limitations on Indemnification

.  

(a)    

Neither any Buyer Group Member, on the one hand, nor any Seller Group Member, on the other hand, shall be entitled to be indemnified pursuant to Sections 9.2(a)(ii) or (iii), 9.2(b)(ii) or (iii), 9.3(b) or (c) or for any breach of the penultimate sentence of Section 5.2, as the case may be, unless and until the aggregate of all Damages incurred by Buyer Group Members or Seller Group Members, as the case may be, shall exceed $900,000 (the “Basket”), and the maximum aggregate amount of indemnification pursuant to Sections 9.2(a)(ii) or (iii), 9.2(b)(ii) or (iii) or for any breach of the penultimate sentence of Section 5.2 that may be received by the Buyer Group Members shall not exceed $27,000,000, plus an amount equal to 20% of any and all Deferred Purchase Price Payments paid to the Seller and/or due and payable to the Seller through the date indemnification is sought pursuant to this Article IX (the “Cap”); provided, that upon reaching the Basket, Buyer Group Members or Seller Group Members, as the case may be, shall be indemnified from the first dollar to the full extent of all Damages, including, without limitation, amounts included in the Basket; provided, further, however, that Buyer Group Members shall be entitled to be indemnified for all Damages on a dollar-for-dollar basis from the first dollar of Damages, without regard to the Basket or the Cap, incurred as a result of any breach of the representations and warranties set forth in Sections 2.1, 2.7, 3.1, 3.3, 3.7, 3.14 or 3.26, and the Seller Group Members shall be entitled to be indemnified for all Damages on a dollar-for-dollar basis from the first dollar of Damages, without regard to the Basket, incurred as a result of any breach of the representations and warranties set forth in Sections 4.2 and 4.7.

(b)    

Without limitation to the foregoing, for purposes of Sections 9.2(b)(ii), 9.2(b)(iii), 9.3(b) and 9.3(c), in determining the amount of any Damages in connection with any inaccuracy of a representation and warranty (but not for purposes of determining whether any such inaccuracy has occurred), any materiality or Material Adverse Effect qualifier in such representation or warranty will be disregarded.

(c)    

The parties acknowledge and agree that after the Closing, the indemnification provisions contained in Sections 9.2 and 9.3 shall be the sole and exclusive remedy for Damages arising out of or caused by the breach of any of the representations, warranties, covenants or agreements of the parties contained in this Agreement, except for any remedies that may be available under Section 6.3, the Related Agreements or with respect to claims arising out of fraud.

(d)    

Any amounts for indemnification to be paid to the Buyer pursuant to this Article IX shall be paid in the following manner, subject in each instance to the limitations set forth in Section 9.4(a): first, pursuant to the Escrow Agreement (or any escrow agreement established pursuant to Section 1.6(f)), and second by the Seller and/or the Principal, as the case may be, to the extent that such indemnification has not been fully satisfied out of the Escrow Account.

(e)    

The amount of any Damages for which indemnification is provided under this Article IX shall be net of any amount accrued or reserved for on the Closing Date Working Capital Statement in respect of Damages.  

9.5   

Tax Treatment of Indemnity Payments.

  It is the intention of the parties to treat any indemnity payment made under this Agreement as an adjustment to the Purchase Price for all federal, state, local and foreign Tax purposes, and the parties agree to file their Tax Returns accordingly.

9.6   

Notice of Claims

.  Any Buyer Group Member or Seller Group Member seeking indemnification hereunder (an “Indemnitee”) shall give to the party or parties obligated to provide indemnification to such Indemnitee (an “Indemnitor”) a notice (“Claim Notice”) describing in reasonable detail the facts giving rise to any claim for indemnification hereunder and shall include in such Claim Notice (if then known) the amount or the method of computation of the amount of such claim, and a reference to the provision of this Agreement or any other agreement, document or instrument executed hereunder or in connection herewith upon which such claim is based.  Any Claim Notice shall be given by the Indemnitee to the Indemnitor promptly after the Indemnitee becomes aware of the claim; provided, however, that the Indemnitee shall not be foreclosed from seeking indemnification pursuant to this Article IX by any failure to provide timely notice of the existence of an Action to the Indemnitor except and only to the extent that the Indemnitor has been materially damaged or prejudiced as a result of such delay.

9.7   

Third Party Claims

.  In the case of any third party Action as to which indemnification is sought by an Indemnitee, the Indemnitor shall have 25 Business Days after receipt of a Claim Notice to notify the Indemnitee that it elects to conduct and control such Action.  If the Indemnitor elects to conduct and control such Action, the Indemnitor shall agree promptly to reimburse the Indemnitee for the full amount of any Damages resulting from such Action, except fees and expenses of counsel for the Indemnitee incurred after the assumption of the conduct and control of such Action by the Indemnitor.  If the Indemnitor does not give the foregoing notice, the Indemnitee shall have the right to conduct and control such Action (without prejudice to the Indemnitee’s right to seek indemnification pursuant to this Article IX), provided, that the Indemnitee shall permit the Indemnitor to participate in the conduct of such Action through counsel chosen by the Indemnitor, but the fees and expenses of such counsel shall be borne by the Indemnitor.  If the Indemnitor gives the foregoing notice, subject to the first and second sentences of this Section 9.7, the Indemnitor shall have the right, at the sole expense of the Indemnitor, to conduct and control, such Action with counsel reasonably acceptable to the Indemnitee, and the Indemnitee shall cooperate with the Indemnitor in connection therewith, provided, that (x) the Indemnitor shall permit the Indemnitee to participate in such conduct or settlement through counsel chosen by the Indemnitee, but the fees and expenses of such counsel shall be borne by the Indemnitee, and (y) the Indemnitor may not compromise or settle any such Action without the consent of the Indemnitee (which consent will not be unreasonably withheld or delayed) unless (i) there is no finding or admission of any violation of Law by the Indemnitee or any violation by the Indemnitee of the rights of any Person and no effect on any other claims that may be made against the Indemnitee, (ii) the sole relief provided is money Damages that are paid in full by the Indemnitor, (iii) the Indemnitee shall have no liability with respect to any compromise or settlement and (iv) such settlement includes an unconditional release in favor of the Indemnitee by the third-party claimant from all liability with respect to such claim.  In the case of any third party Action as to which indemnification is sought by the Indemnitee which involves a claim for Damages other than solely for money Damages which could have a continuing effect on the business of the Indemnitee, the Indemnitee and the Indemnitor shall jointly control the conduct of such Action.  The parties hereto shall use their reasonable best efforts to minimize any Damages from claims by third parties and shall act in good faith in responding to, defending against, settling or otherwise dealing with such claims, notwithstanding any dispute as to liability under this Article IX.  

ARTICLE X.

TERMINATION

10.1   

Termination

.  This Agreement may be terminated at any time prior to the Closing Date:

(a)    

by mutual consent of the Buyer and the Seller; or

(b)    

by the Buyer, if there has been a material violation or breach by the Seller or the Principal of any representation, warranty, covenant or agreement contained in this Agreement, provided, that notice of such material violation or breach shall have been given to the Seller and the Principal and such material violation or breach shall not have been cured within ten Business Days of receipt of such notice (provided, further, that, to exercise its rights under this Section 10.1(b) for any particular violation or breach, the Buyer (x) must terminate this Agreement within 15 Business Days after the cure period provided for in this Section 10.1(b) and (y) the Buyer must not be in violation or breach of any representation, warranty, covenant or agreement contained in this Agreement); or

(c)    

by the Seller or the Principal, if there has been a material violation or breach by the Buyer of any representation, warranty, covenant or agreement contained in this Agreement, provided, that notice of such material violation or breach shall have been given to the Buyer and such material violation or breach shall not have been cured within ten Business Days of receipt of such notice (provided, further, that, to exercise their rights under this Section 10.1(c) for any particular violation or breach, the Seller (x) must terminate this Agreement within 15 Business Days after the end of the cure period provided for in this Section 10.1(c) and (y) the Seller and the Principal must not be in violation or breach of any representation, warranty, covenant or agreement contained in this Agreement);  or

(d)    

by either the Buyer, on one hand, or the Seller, on the other hand, if the Closing shall not have occurred by February 4, 2007 (unless the Closing shall have not occurred on or before such date due to a breach of a representation and warranty or of a covenant by such party and/or the action or failure to act of the party seeking to terminate this Agreement).

10.2   

Effects of Termination

.  

(a)    

Except as otherwise provided in this Section 10.2, in the event of a termination of this Agreement pursuant to this Article X (i) all further obligations of the parties under this Agreement shall terminate, (ii) no party shall have any right under this Agreement against any other party except as set forth in Section 11.8, and (iii) each party shall bear its own costs and expenses, except as provided in Section 11.1; provided, however, that the termination of this Agreement under this Article X shall not relieve any party of liability for any breach of this Agreement prior to the date of termination, or constitute a waiver of any claim with respect thereto.

ARTICLE XI.

MISCELLANEOUS

11.1   

Expenses of the Transaction

.  The Buyer agrees to pay all of its fees and expenses in connection with this Agreement and the Related Agreements and the transactions contemplated hereby and by the Related Agreements, including, without limitation, legal and accounting fees and expenses.  The Seller agrees to pay all of its and the Principal’s fees and expenses in connection with this Agreement and the Related Agreements and the transactions contemplated hereby and by the Related Agreements, including, without limitation, the Excluded Liabilities, and legal and accounting fees and expenses.

11.2   

Notices

.  All notices or other communications required or permitted hereunder shall be in writing and shall be deemed given or delivered (i) when delivered personally or by private courier, (ii) when actually delivered by registered or certified United States mail, return receipt requested, or (iii) when sent by facsimile transmission (provided, that it is confirmed by a means specified in clause (i) or (ii)), addressed as follows:

If to the Buyer to: 

Phillips-Van Heusen Corporation

200 Madison Avenue

New York, New York  10016

Attention:  Vice President, General Counsel and Secretary

Facsimile:   (212) 381-3970

Telephone:  (212) 381-3509

with a copy to:

Katten Muchin Rosenman LLP

575 Madison Avenue

New York, New York  10022

Attention:  David H. Landau, Esq.

Facsimile:   (212) 940-8776

Telephone:  (212) 940-8800

If to the Seller or to the Principal to:

A. Mervyn Mandelbaum

1735 South Santa Fe Avenue

Los Angeles, California 90021

Facsimile:  (213) 489-7661

Telephone:  (213) 688-7970

with a copy to:

Maron & Sandler 

1250 Fourth Street, Suite 550 

Santa Monica, California  90401 

Attention:  David S. Kyman, Esq.

Facsimile:

(310) 570-4901

Telephone:

(310) 570-4908

or to such other address as such party may indicate by a notice delivered to the other parties hereto.

11.3   

No Modification Except in Writing

.  This Agreement shall not be changed, modified, or amended except by a writing signed by the party to be affected by such change, modification or amendment, and this Agreement may not be discharged except by performance in accordance with its terms or by a writing signed by the party to which performance is to be rendered.

11.4   

Entire Agreement

.  This Agreement together with the Schedules, Appendices and Exhibits hereto and the Confidentiality Agreement, sets forth the entire agreement and understanding among the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of every kind and nature among them with respect to such subject matter.

11.5   

Severability

.  If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected unless the provision held invalid shall substantially impair the benefits of the remaining portions of this Agreement.

11.6   

Assignment

.  No party may assign any of its rights under this Agreement without the prior written consent of the other parties hereto; provided, however, that (i) the Buyer may assign its rights hereunder to any wholly-owned subsidiary of the Buyer, provided that no such assignment shall relieve the Buyer of any of its obligations hereunder, and, following the Closing Date, the Buyer may assign its rights and obligations hereunder in connection with a sale of all or substantially all of the Buyer’s assets as long as the transferee assumes the Buyer’s obligations hereunder, and (ii) following the Closing Date, the Seller may assign its rights hereunder to one or more of its shareholders or in connection with any liquidation or dissolution of the Seller.  Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns.

11.7   

Governing Law; Jurisdiction.

(a)    

This Agreement shall be governed by, and construed in accordance with, the Laws of the State of New York applicable to contracts made and to be performed wholly within said State, without giving effect to the conflict of laws principles thereof. 

(b)    

Each party to this Agreement irrevocably submits to the exclusive jurisdiction of (i) the courts of the State of New York located in New York County and (ii) the United States District Court for the Southern District of New York, for the purposes of any Action arising out of this Agreement or the transactions contemplated hereby.

11.8   

Specific Performance

.  The parties agree that if any of the provisions of this Agreement were not performed by the Buyer, on the one hand, or the Seller and the Principal, on the other hand, in accordance with their specific terms or were otherwise breached by such parties, irreparable damage would occur, no adequate remedy at Law would exist and damages would be difficult to determine, and that the non-breaching party will be entitled to specific performance of the terms hereof.  The parties waive any requirement for the posting of a bond in connection with any Action seeking specific performance; provided, however, that nothing herein will affect the right of any of the parties to seek recovery against any party hereto, at Law, in equity or otherwise, with respect to any covenants, agreements or obligations to be performed by such party or parties after the Closing Date.

11.9   

Headings; References

.  The headings appearing in this Agreement are inserted only as a matter of convenience and for reference and in no way define, limit or describe the scope and intent of this Agreement or any of the provisions hereof.  Any reference in this Agreement (including in any Exhibit, Appendix or Schedule hereto) to a “Section,” “Article,” or “Exhibit” shall mean a Section, Article or Exhibit of or to this Agreement unless expressly stated otherwise.

11.10   

Interpretation

.  In this Agreement, (a) words used herein regardless of the gender specifically used shall be deemed and construed to include any other gender, masculine, feminine or neuter, as the context shall require, (b) all terms defined in the singular shall have the same meanings when used in the plural and vice versa and (c) the words “include”, “includes” or “including” are deemed to be followed by the words “without limitation”.  Any statute defined or referred to herein or in any agreement or instrument that is referred to herein means such statute as from time to time amended, modified or supplemented, including (in the case of statutes) by succession of comparable successor statutes.  References to a Person are also its predecessors and permitted successors and assigns.

11.11   

Schedules

.  Any item that is disclosed in any section of the Seller Disclosure Schedule with sufficient specificity so that it is apparent on the face of such Schedule that such disclosure is also applicable to one or more other sections of such Schedule shall also be deemed disclosed for purposes of such other parts of such Schedule to which such disclosure is applicable.  Terms used in any Schedule to this Agreement and not otherwise defined in such Schedule shall have the meaning ascribed to such term in this Agreement.

11.12   

Third Parties

.  Except as expressly provided herein or as otherwise agreed by the parties hereto, the provisions of this Agreement are solely for the benefit of the parties hereto and shall not inure to the benefit of any third party.

11.13   

Seller Representative

.  By the execution and delivery of this Agreement, the Seller hereby irrevocably designates and appoints the Seller Representative as its representative and attorney-in-fact for all purposes relating to this Agreement (including, without limitation, all matters relating to Article IX and/or Appendix B to this Agreement), with power to sign, on its behalf, all consents, notices, waivers, communications and documents necessary or convenient for the implementation of the transactions provided herein or related hereto, including all amendments hereto.  The Seller shall hold harmless and indemnify the Seller Representative from and against all obligations, liabilities, claims, suits, judgments, losses, damages, costs or expenses of any kind or nature, including without limitation reasonable attorney’s fees, which may be imposed on, incurred by, or asserted against the Seller Representative in connection with this Agreement and/or any action taken or omitted to be taken by the Seller Representative in connection with this Agreement.

11.14   

Counterparts

.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which taken together shall constitute a single agreement.  This Agreement will be binding when one or more counterparts taken together will have been executed and delivered (including by facsimile) by the parties.

[Signature page follows]

IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement on the day and year first above written.

PHILLIPS-VAN HEUSEN CORPORATION

By: /s/ Mark D. Fischer________________

Name:

Mark D. Fischer

Title:

Vice President

SUPERBA, INC.

By: /s/ A. Mervyn Mandelbaum__________

Name:

A. Mervyn Mandelbaum

Title:

Chief Executive Officer 

/s/ A. Mervyn Mandelbaum_____________

A. Mervyn Mandelbaum

2

APPENDIX A

DEFINITIONS

Definitions.  The following terms when used in the Agreement shall have the respective meanings ascribed to them below:

“Acceleration Event” has the meaning ascribed to such term in Section 1.6(e).

“Acceleration Event Amount” has the meaning ascribed to such term in Section 1.6(e).

“Accounting Firm” has the meaning ascribed to such term in Section 1.5(a).

“Acquisition Transaction” has the meaning ascribed to such term in Section 5.4.

“Action” shall mean any action, suit, claim, litigation, proceeding, arbitration, audit, investigation, or hearing (whether civil, criminal, administrative, investigative or informal) commenced, brought, conducted or heard by or before, any Governmental Authority.

“Affiliate” shall mean, with respect to a specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such specified Person.  As used in this definition, the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.

“Agreement” has the meaning ascribed to such term in the Preamble hereto.

“Assignment and Assumption Agreement” shall mean the agreement between the Buyer and the Seller in substantially the form of Exhibit A hereto.

“Assumed Liabilities” has the meaning ascribed to such term in Section 1.3(a).

“Audited Financial Statements” has the meaning ascribed to such term in Section 3.13(a).

“Average Working Capital” shall mean the average as of each month end over the trailing 12 month period ending on the last day of the calendar month immediately preceding the Closing Date of the number obtained by subtracting (a) the sum of the current liabilities of the Business in the categories set forth on Appendix E, from (b) the sum of the current assets of the Business in the categories set forth on Appendix E. 

“Average Working Capital Statement” has the meaning ascribed to such term in Section 1.5(a).

“Basket” has the meaning ascribed to such term in Section 9.4(a).

“Bonus Time” shall mean, with respect to each Transferred Employee who executes and delivers a valid consent as contemplated by Section 6.2(e), the number of days that is equal to such Transferred Employee’s accrued but unused vacation days with the Seller as of the Closing Date, as shown on the schedule delivered by the Seller to the Buyer pursuant to Section 6.2(e).

“Bonus Time Accrual” shall mean an amount equal to the salary owed to each Transferred Employee who executes and delivers a valid consent as contemplated by Section 6.2(e), for the number of days that is equal to such Transferred Employee’s accrued but unused vacation days with the Seller as of the Closing Date, as shown on the schedule delivered by the Seller to the Buyer pursuant to Section 6.2(e).

“Business” has the meaning ascribed to such term in the preamble hereto and after the Closing Time includes the Business as conducted by the Buyer.

“Business Day” shall mean a day (other than a Saturday or Sunday), on which commercial banks are open for business in New York, New York.

“Buyer” has the meaning ascribed to such term in the preamble hereto.

“Buyer Group Member” shall mean each of the Buyer and its Affiliates and their respective directors, officers, employees, agents and attorneys and their respective successors and assigns.

“Cap” has the meaning ascribed to such term in Section 9.4(a).

“Certificates of Exemption” has the meaning ascribed to such term in Section 6.4(e).

“Claim Notice” has the meaning ascribed to such term in Section 9.6.

“Closing” has the meaning ascribed to such term in Section 1.1.

“Closing Date” has the meaning ascribed to such term in Section 1.1.

“Closing Date Working Capital” shall mean the number obtained by subtracting (a) the sum of the current liabilities of the Business in the categories set forth on Appendix E as of the Closing Date, from (b) the sum of the current assets of the Business in the categories set forth on Appendix E as of the Closing Date. 

“Closing Date Working Capital Statement” has the meaning ascribed to such term in Section 1.5(a).

“Closing Time” has the meaning ascribed to such term in Section 1.1.

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any successor statute thereto and all final or temporary regulations promulgated thereunder and published.

“Company Intellectual Property” shall mean Intellectual Property owned by the Seller, licensed by the Seller from third parties or which the Seller is otherwise authorized by third parties to use and which is used in connection with the Business within the past five years; provided, that Company Intellectual Property shall not include Intellectual Property licensed under any license within the past five years which is no longer valid..

“Confidential Information” shall mean trade secrets, confidential or proprietary information, knowledge, or know-how pertaining primarily to the Business or any confidential or proprietary information concerning any vendor or customer of the Seller, including, without limitation, customer lists, research and development information and materials, inventions, formulas, methods, techniques, processes, plans, product designs, material designs, fabric designs, procedures, contracts, financial information and computer models.  The term Confidential Information shall not include (i) information that is generally available to the public or within the apparel and fashion industry, other than as a result of a disclosure by the receiving party or its directors, officers, shareholders, partners, Affiliates, employees, agents or advisors in violation of this Agreement; (ii) information which, prior to disclosure to the receiving party by or on behalf of the disclosing party, was already in the receiving party’s possession on a non-confidential basis; (iii) information that was developed without the use of Confidential Information; and (iv) information that becomes available to the receiving party on a non-confidential basis from a source other than the Seller or any of its advisors, agents or Affiliates, provided, that such source is not known by the receiving party to be bound by a confidentiality agreement with or other obligation of secrecy to the Seller or any other party.

“Confidentiality Agreement” shall mean that certain confidentiality agreement between the Buyer and the Seller dated March 8, 2006.

“Contracts” shall mean all leases, including, without limitation, Real Property Leases, licenses, contracts, purchase orders, agreements, indentures, promissory notes, guarantees, arrangements, commitments and understandings of any kind, whether written or oral, to which the Seller is a party or by which the Seller or any of the assets of the Seller may be bound, and all rights arising under any of them.

“D. Mandelbaum Employment Agreement” shall mean the Employment Agreement between the Buyer and Danielle Mandelbaum, in the form of Exhibit I hereto. 

“Damages” shall mean losses, obligations, Liabilities, settlement payments, awards, judgments, fines, penalties, damages, deficiencies, Taxes and reasonable expenses and costs, including reasonable attorneys’ and auditors’ fees (and any reasonable experts’ fees) and court costs.  Damages shall not include punitive Damages, unless awarded in a judgment in connection with a claim by a third party.

“Deferred Purchase Price” has the meaning ascribed to such term in Section 1.6(a).

“Deferred Purchase Price Payments” has the meaning ascribed to such term in Section 1.6(a).

“Delayed Offer Date” has the meaning ascribed to such term in Section 6.2(g).

“Dispute Notice” has the meaning ascribed to such term in Section 1.6(b).

“DOJ” shall mean the United States Department of Justice.

“EBIT” shall mean, with respect to the applicable Measurement Period, the amount equal to the earnings generated from the Business before interest and taxes, subject to Appendix B. 

“Empire State Building Facility” shall mean the premises located at 350 Park Avenue, New York, New York 10118 (Suites 6211-6219).

“Employee Plans” has the meaning ascribed to such term in Section 3.19).

“Employment Agreement” shall mean an employment agreement between the Buyer, on the one hand, and each of the Persons listed on Appendix F, on the other hand, in substantially the form of Exhibit J hereto.

“Environment” shall mean soil, surface waters, ground waters, land, stream, sediments, surface or subsurface strata and ambient air.

“Environmental Condition” shall mean any condition with respect to the Environment on or off any Facility caused by a Release of Hazardous Substances or violation of Environmental Laws, whether or not yet discovered, which could or does result in any Damages, including, without limitation, any condition resulting from the operation of the Business or the operation of the business of any subtenant or occupant of any Facility or that of other property owners or operators in the vicinity of any Facility or any activity or operation formerly conducted by any person or entity on or off such Facility.

“Environmental Laws” shall mean all Laws relating to the pollution of or protection of the Environment, from contamination by, or relating to injury to, or the protection of, real or personal property or human health or the Environment, including, without limitation, all valid and lawful requirements of courts and other Governmental Authorities pertaining to reporting, licensing, permitting, investigation, remediation and removal of, emissions, discharges, releases or threatened releases of Hazardous Substances, chemical substances, pesticides, petroleum or petroleum products, pollutants, contaminants or hazardous or toxic substances, materials or wastes, into the Environment, or relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Substances, pollutants, contaminants or hazardous or toxic substances, materials or wastes.

“Environmental Report” shall mean any report, study, assessment, audit, or other similar document that addresses any issue of actual or potential noncompliance with, actual or potential liability under or cost arising out of, or actual or potential impact on business in connection with, any Environmental Law or any proposed or anticipated change in or addition to any Environmental Law.

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor statute thereto and all final or temporary regulations promulgated thereunder.

“Escrow Account” has the meaning ascribed to such term in Section 1.4(c).

“Escrow Agent” shall mean The Bank of New York or, if such financial institution is unable or unwilling to act as an escrow agent, such other financial institution as shall be agreed upon by the Buyer and the Seller.

“Escrow Agreement” shall mean an agreement among the Buyer, the Seller, the Principal and the Escrow Agent in substantially the form of Exhibit B hereto, subject to changes requested by the Escrow Agent.

“Escrow Amount” has the meaning ascribed to such term in Section 1.4(c).

“Excess Amount” has the meaning ascribed to such term in Section 1.6(f).

“Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, or any successor law, and regulations and rules issued under that Act or any successor law.

“Excluded Assets” shall have the meaning ascribed to such term in Section 1.2(b).

“Excluded Contracts” shall mean the Contracts listed on Appendix G.

“Excluded Employee” shall mean Jacqueline Weidman.

“Excluded Entities” shall mean the U.K. Subsidiary and the Hong Kong Subsidiary.

“Excluded Liabilities” shall have the meaning ascribed to such term in Section 1.3(b).

“Exempt Purchase Order” shall mean a purchase order for the Business entered into in the ordinary course of business which contains an order for goods, including fabric, finished ties, and all trim so long as such purchase order covers a period of three months or less.

“FTC” shall mean the United States Federal Trade Commission.

“Facility” shall mean any facility that is now or has heretofore been owned or leased by the Seller in connection with the Business.

“Financial Statements” shall mean the Audited Financial Statements and the Unaudited Financial Statements.

“First Measurement Period” shall mean the fiscal year of the Buyer ending on or about February 3, 2008.

“GAAP” shall mean United States generally accepted accounting principles.

“GAAP Exceptions” shall mean those exceptions to GAAP as outlined on Appendix H.

“Governmental Authority” shall mean any (i) federal, state, local, provincial, municipal, foreign, or other government, (ii) governmental or quasi-governmental authority of any nature or (iii) other body exercising any statutory, administrative, judicial, arbitrative, legislative, police, regulatory, or taxing authority or power.

“Governmental Permits” shall mean all licenses, franchises, registrations, permits, privileges, immunities, approvals and other authorizations from a Governmental Authority.

“Hazardous Substance” shall mean any substance whether solid, liquid or gaseous in nature:

(i)

the presence of which requires or may hereafter require notification, investigation, or remediation under any Environmental Law;

(ii)

which is or becomes defined as “toxic”, a “hazardous waste”, “hazardous material” or “hazardous substance” or “pollutant” or “contaminant” under any present or future Environmental Laws;

(iii)

the presence of which adversely affects or is injurious to human health or the Environment;

(iv)

which is toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise hazardous and is or becomes regulated by any Governmental Authority; 

(v)

which contains gasoline, diesel fuel or other petroleum hydrocarbons or volatile organic compounds; 

(vi)

which contains polychlorinated byphenyls (PCBs) or asbestos or urea formaldehyde foam insulation; or

(vii)

which contains or emits radioactive particles, waves or materials, including radon gas.

“Hong Kong Subsidiary” shall mean Superba Hong Kong Limited, a wholly-owned subsidiary of the Seller, domiciled in Hong Kong.

“HSR Act” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

“HSR Clearance” shall mean the expiration or early termination of any applicable waiting period under the HSR Act, without any suit to enjoin the transactions contemplated herein having been filed by the DOJ or FTC under Title 15 of the United States Code.

“Indemnitee” has the meaning ascribed to such term in Section 9.6.

“Indemnitor” has the meaning ascribed to such term in Section 9.6.

“Intellectual Property” shall mean (i) all trademarks, service marks, trade dress, logos, trade names, domain names, web-sites, brand names and corporate names and including all goodwill associated therewith, and all applications, registrations and renewals in connection therewith, (ii) all inventions and designs (whether patentable or unpatentable and whether or not reduced to practice), all improvements thereto, and all patents, patent applications, and patent disclosures, together with all reissuances, continuations, continuations-in-part, revisions, extensions and reexaminations thereof, (iii) all protectable subject matter under U.S. copyright law, including, but not limited to, artwork, photographs and advertising and promotional materials, computer software (excluding “off the shelf” software programs and the licenses therefor) and all copyrights and all applications, registrations and renewals in connection therewith, (iv) all trade secrets and confidential business information (including ideas, research and development, know-how, formulas, compositions, manufacturing and production processes and techniques, technical data, designs, drawings, specifications, fabrications, patterns, customer and supplier lists, pricing and cost information and all rights of privacy and publicity, (v) all other proprietary rights in the foregoing, and (vi) all copies and tangible embodiments of the foregoing (in whatever form or medium, including historical and retrospective data, materials and objects).

“Intellectual Property Agreement” shall mean the Intellectual Property Agreement between the Buyer and the Seller in substantially the form of Exhibit C hereto.

“Intellectual Property Contract” shall mean any Contract whereby the Seller licenses Company Intellectual Property from or to any third party.

“June 30 Balance Sheet” shall mean the consolidated balance sheets of the Seller and the U.K. Subsidiary as of June 30, 2006.

“Knowledge” shall mean, with respect to the Seller, the actual knowledge, or the knowledge that would be expected to have been obtained upon reasonable inquiry of a particular fact or other matter by any of the Principal, Danielle Mandelbaum, Mark Milner, Melissa Delk, Cindi Mullane, Sang Yoo, Phil Berger and Saul Smith.

“L.A. Facility” shall mean the premises used by the Seller for the Business located at 1701 South Santa Fe Avenue and 1735 South Santa Fe Avenue, Los Angeles, CA 90021.

“L.A. Facility Lease” shall mean a lease agreement between Superb Partners and the Buyer relating to the L.A. Facility in the form of Exhibit D hereto.

“Landlord Waiver” shall mean a waiver in the form of Exhibit E hereto to be executed by Superb Partners with respect to the L.A. Facility.

“Law” shall mean any constitution, law, treaty, compact, directive, ordinance, principal of common law, permit, authorization, variance, regulation, rule, or statute, including, without limitation, all federal, foreign, international, state and local laws related to Taxes, ERISA, Hazardous Substances and the Environment, zoning and land use, Intellectual Property, privacy, occupational safety and health, consumer protection, product quality, safety, employment and labor matters. 

“Leased Real Property” has the meaning ascribed to such term in Section 3.8(b).

“Liabilities” shall mean any and all debts, liabilities and obligations, of any kind or nature, including those arising under common law, statue (or other Law), Contract or otherwise, whether accrued or fixed, absolute or contingent, matured or unmatured, or determined or determinable.

“Licensed Products” has the meaning ascribed to such term in Section 3.11(c)

“Liens” shall mean all mortgages, pledges, liens, security interests, conditional sale agreements, encumbrances or similar restrictions.

“Life Insurance Policy” shall mean, collectively, those certain life insurance policies with New York Life and Prudential (face value $10,000,000) covering the Principal.

“M. Mandelbaum Employment Agreement” shall mean the Employment Agreement between the Buyer and the Principal, in the form of Exhibit F hereto. 

“Material Adverse Effect” shall mean any event, condition or contingency that has had, or is reasonably likely to have, a material adverse effect on the business, assets, liabilities, results of operations or financial condition of the Seller taken as a whole.  For purposes of this Agreement, a Material Adverse Effect shall not be deemed to arise by reason of (i) changes in general economic conditions or in the neckwear industry that do not disproportionately impact the Business, (ii) any change resulting from the announcement or pendency of any of the transactions contemplated by this Agreement or (iii) acts of war or terrorism. 

“Measurement Period” shall mean each and any of the First, Second or Third Measurement Periods.

“Multiemployer Plan” has the meaning ascribed to such term in Section 3.19(c).

“Neckwear License Agreements” shall mean the Schedule I License Agreements, the license agreements with the Buyer, as licensor, for use of the “Van Heusen” mark on neckwear and the sub-license agreement with the Buyer, as sub-licensor, for use of the “BCBG Max Azria” and “BCBG Attitude” marks on neckwear.

“Notice of Disagreement” has the meaning ascribed to such term in Section 1.5(a).

“Order” shall mean any award, decision, injunction, decree, stipulation, determination, writ, judgment, order, ruling, or verdict ordered, issued, made or rendered by any court, administrative agency or other Governmental Authority.

“Park Avenue Property” shall mean the premises used by the Seller for the Business located at 99 Park Avenue, New York, New York.

“Payment Statement” has the meaning ascribed to such term in Section 1.6(b).

“Permitted Liens” shall mean Liens (i) for any current taxes or assessments not yet due and payable, (ii) created by statute of carriers, warehousemen, mechanics, laborers or materialmen incurred in the ordinary course of business for sums not yet due or (iii) real and personal property leases and licenses for the use of Company Intellectual Property.

“Person” shall mean any individual, firm, unincorporated organization, corporation (including any not-for-profit corporation), general or limited partnership, limited liability company, cooperative marketing association, joint venture, estate, trust, association or other entity as well as any syndicate or group that would be deemed to be a person under Section 13(a)(3) of the Exchange Act.

“Power of Attorney” shall mean, as contemplated by Section 1.8, the power of attorney in substantially the form of Exhibit G hereto.

“Purchase Price” has the meaning ascribed to such term in Section 1.4(a).

“Purchased Assets” has the meaning ascribed to such term in Section 1.2(a).

“Principal” has the meaning ascribed to such term in the preamble hereto.

“Qualified Plan” has the meaning ascribed to such term in Section 3.19(e).

“Real Property Leases” shall mean all written or oral leases for real property to which the Seller is a party or by which it is bound.

“Related Agreements” shall mean those agreements and documents entered into or delivered between the Buyer, the Seller and the Principal related to, ancillary to, or in connection with this Agreement.

“Resolution Period” has the meaning ascribed to such term in Section 1.6(b).

“Restricted Business” has the meaning ascribed to such term in Section 6.3(a).

“Rights Holder” has the meaning ascribed to such term in Section 6.4(e).

“Schedule I License Agreements” shall mean the license agreements to which the Buyer is a party relating to the manufacture and/or wholesale distribution of neckwear in the United States or Canada with respect to the brands referred to in Schedule I to Appendix B.

“Second Measurement Period” shall mean the fiscal year of the Buyer ending on or about February 1, 2009.

“Seller Group Member” shall mean the Seller and each of its agents and attorneys and their respective successors and permitted assigns.

“Seller” has the meaning ascribed to such term in the Preamble hereto.

“Seller Disclosure Schedule” shall mean that certain schedule attached hereto as Appendix D qualifying the representations and warranties contained in Article II and Article III.  

“Seller Guaranty” shall mean, collectively, that certain Deed of Guarantee and Indemnity by and between the Seller and Lloyds TSB Commercial Finance Limited, dated December 20, 2002, the guaranty made by the Seller for the benefit of the Excluded Entity, dated March 1, 2006, or any other similar guaranty.

“Seller Representative” shall mean (i) the Principal, or (ii) if the Principal dies or becomes incapacitated, Danielle Mandelbaum, unless she predeceases him or becomes incapacitated prior thereto, or (iii) if the Principal has died or becomes incapacitated and Danielle Mandelbaum predeceases him or becomes incapacitated prior thereto, a Person designated in writing by the guardian or the representative of the estate, as applicable, of the Principal or (iv) if Danielle Mandelbaum becomes the Seller Representative and thereafter dies or becomes incapacitated, a Person designated in writing by the guardian or the representative of the estate, as applicable, of the Principal, if such Person still has authority or, if such Person no longer has such authority, then a Person designated in writing by the guardian or the representative of the estate, as applicable, of Danielle Mandelbaum.

“Single-Employer Plan” has the meaning ascribed to such term in Section 3.19(c).

“Stock Repurchase Agreements” shall mean any and all stock repurchase agreements (as amended, modified or supplemented) between the Seller, on the one hand, and a shareholder of the Seller, on the other hand.

“2005 Balance Sheet” shall mean the consolidated balance sheets of the Seller and the Excluded Entity as of December 31, 2005.

“Taxes” shall mean any and all federal, state, local and foreign taxes, assessments, governmental charges, duties, impositions and liabilities, including, but not limited to, income (whether net or gross), excise, property, sales, transfer, gains, gross receipts, occupation, privilege, payroll, wage, unemployment, workers’ compensation, social security, escheat, use, value added, capital, gross receipts, franchise, license, severance, stamp, premium, windfall profits, environmental (including taxes under Code Sec. 59A), capital stock, profits, withholding, disability, real property, personal property, registration, customs duties, alternative or add-on minimum, estimated or other tax of any kind whatsoever (whether disputed or not) imposed by any Tax Authority, including any related charges, fees, interest, penalties, additions to tax or other assessments. 

“Tax Authority” shall mean any foreign or domestic government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body or other authority exercising any taxing or Tax regulatory authority. 

“Tax Returns” shall mean all returns, reports, declarations, estimates, information returns and statements (including any related or supporting information) filed or to be filed with any Tax Authority in connection with the determination, assessment, collection or administration of any Taxes.

“Third Measurement Period” shall mean the fiscal year of the Buyer ending on or about January 31, 2010.

“Transferred Employees” shall have the meaning ascribed to such term in Section 6.2(b).

“Transition Services Agreement” shall mean the Transition Services Agreement between the Buyer and the Seller, in the form of Exhibit H hereto. 

“U.K. Subsidiary” shall mean collectively Superseta Limited, a majority-owned subsidiary of the Seller, domiciled in the United Kingdom and its subsidiary Michelsons Limited, domiciled in the United Kingdom. 

“Unaudited Financial Statements” has the meaning ascribed to such term in Section 3.13(a).

“WARN” shall mean the Worker Adjustment and Retraining Notification Act of 1998, as amended.

“Working Capital Statements” has the meaning ascribed to such term in Section 1.5(a).

A-1CERTAIN
        PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR
        CONFIDENTIAL TREATEMENT AS INDICATED BY [REDACTED] AND SEPARATELY FILED WITH
        THE
        COMMISSION.

       

      October
        4, 2006

      

      

      Mr.
        Edward Gitlitz

      Avis
        Budget Car Rental, LLC

      6
        Sylvan
        Way

      Parsippany,
        N.J. 07054

      

       

      Dear
        Mr.
        Gitlitz:

       

      This
        letter will confirm the agreement (“Agreement”) reached between Avis Budget Car
        Rental, LLC and General Motors (“GM”) regarding Avis Budget Car Rental, LLC’s
        (“ABG”) purchase or lease of GM vehicles for model year 2007. The details of
        this Agreement are as follows:

      

      

      2007
        MODEL YEAR 

      

      	1.  	
              Avis
                Budget Car Rental, LLC will purchase or lease from GM dealers of
                their
                choice a minimum quantity of 2007 model GM vehicles under the terms
                and
                conditions of GM’s 2007 Model Year Daily Rental Purchase Program (refer
                Attachment 1). Avis Budget Car Rental, LLC has agreed to purchase
                these GM
                vehicles in a mix which includes a considerable number of GM’s higher
                priced models and which represents a higher percentage of these units
                than
                Avis Budget Car Rental, LLC otherwise would purchase. The agreed
                mix of
                units is listed in Attachment 2.

            

      

      	a.  	
              GM
                or its subsidiary will purchase such model year 2007 vehicles from
                Avis
                Budget Car Rental, LLC (to the extent tendered to GM or its subsidiary)
                in
                accordance with the terms and conditions of GM’s 2007 Model Year Daily
                Rental Purchase Program.

            

      

      	2.  	
              GM
                agrees to offer Avis
                Budget Car Rental, LLC
                the availability of the YT1 2007MY Daily Rental Short-Term Purchase
                Program with a cap of [REDACTED] of the total volume purchase. If
                the
                limits for YT1 are exceeded,
                GM will request reimbursement for depreciation for the number of
                units
                that exceed the YT1 limits. Refer to Attachment 3 for program parameters.
                Specified quantities and brands are described in Attachment
                3a.

            

      

      	a.  	
              GM
                or its subsidiary will purchase from Avis Budget Car Rental, LLC
                (to the
                extent tendered to GM or its subsidiary) vehicles acquired by Avis
                Budget
                Car Rental, LLC under the YT1 2007MY Daily Rental Short-Term Purchase
                Program in accordance with the terms and conditions of such YT1 2007MY
                Daily Rental Short-Term Purchase Program.

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      	3.  	
              GM
                and Avis Budget Car Rental, LLC agree to equip units of the following
                brands with XM Radio: 

            

      

      [REDACTED]

      

      In
        exchange for ABG equipping and activating the above models with XM Radio,
        GM
        agrees to waive all other XM Radio spec requirements for the 2007 model year.
        

       

      

      	4.  	
              GM
                agrees to provide the following total model year volume bonus payment,
                providing Avis Budget Car Rental, LLC meets the required total model
                year
                volume commitment, placing final model year orders for production
                by July
                31, 2007. Avis Budget Car Rental, LLC’s vehicle production orders must be
                accepted in GM’s Vehicle Order Management System (VOMS) by April 16,
                2007.

            

      

      [REDACTED]

      

      The
        total
        model year volume bonus will be paid on applicable volume in August of 2007,
        dependent on Avis Budget Car Rental, LLC’s total 2007 model year production as
        of July 31, 2007. 

      

      Above
        required volume is a combination of Daily Rental Purchase Programs (VN9,
        YT1)
        and National Rental Program (VX7) units and includes the total of purchases
        made
        by Avis Budget Car Rental, LLC as part of the total volume requirement for
        the
        specific bonus level attainment.

       

      If
        Avis
        Budget Car Rental, LLC exceeds the highest volume bonus level as noted above,
        GM
        will maintain the $/per unit payment for each unit at or above that level.
        All
        payments of the above sums will be made in August of 2007, and handled under
        the
        terms and conditions of Paragraph 9 excluding the requirement of the electronic
        media transmission to RIMS.

      

      	5.  	
              Avis
                Budget Car Rental, LLC agrees to the following conditions for all
                production after September 30, 2006:

            

      

      a.
        Avis
        Budget Car Rental, LLC will attempt to place orders no more than 30% or less
        than 20% of a months production in any week provided GM can make such a
        production commitment. After two weeks of moving orders to event code 3000
        for a
        given production period the orders will be deemed to comply with the limitation
        indicated above. 

       

      b. All
        vehicle minimum equipment requirements will be placed for production on a
        monthly basis.

      

      
        
          c.
            Any
            vehicles which do not meet the minimum equipment requirements will be
            deducted
            from the Model Year Bonus.

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	6.  	
              In
                exchange for ABG’s Agreement to purchase, promote, and service the number
                of 2007 models and in a vehicle mix satisfactory to GM, as described
                in
                Attachment 2. GM will provide Avis Budget Car Rental, LLC with a
                per unit
                amount detailed in Attachment 2 in addition to any incentives due
                under
                the terms and conditions of GM’s 2007 Model Year Daily Rental Purchase
                Program. Payment of these per unit amounts will be made upon submission
                of
                such vehicles in accordance with Paragraph
                9.

            

      

      	7.  	
              GM
                shall offer Avis Budget Car Rental, LLC a 2007MY Reclassification
                Program.
                The 2007MY reclassification payments will be based upon the attached
                schedule and guidelines. (See Attachment 4 and
                4b). Avis Budget Car Rental, LLC must submit [REDACTED] of the total
                2007
                model year daily rental vehicle purchases (excluding any type of
                rejected
                turn-back vehicles) before GM will process any incentives toward
                a
                reclassification application. These vehicles must be identified by
                VIN
                through electronic media transmission to GM (C3 De-Enroll File Format).
                Once processed, these units will be identified in the GM’s Auction System
                (RIMS) as permanent auction rejects and will be ineligible for return
                to
                GM. [REDACTED]

            

      

      	8.  	
              Avis
                Budget Car Rental, LLC shall purchase 2007 models noted in Attachment
                5
                under the terms and conditions of the 2007 Model Year National Fleet
                Purchase Program (VX7 Program - refer to Attachment 6) and in exchange
                GM
                agrees to provide a per unit amount detailed in Attachment 5 in addition
                to any incentives due under the terms and conditions of GM’s 2007 Model
                Year National Purchase Program. Payment of this per unit amount will
                be
                made upon submission of such vehicles in accordance with Paragraph
                9.

            

      

      	9.  	
              GM
                will pay to Avis Budget Car Rental, LLC a pro rata portion of the
                per unit
                amount described in Paragraphs 2, 4, 6, and 8 by the 25th day of
                the month
                following vehicle delivery and receipt of an electronic media transmission
                to GM’s Remarketing Information System (RIMS) by GM, provided GM receives
                Avis Budget Car Rental, LLC’s electronic media transmission by the last
                business day of the month. It is understood that payment of the sums
                due
                to ABG in paragraphs 2 and 4 are based upon achieving the minimum
                purchase
                volume requirements cited in those paragraphs and the related schedules.
                It is further understood that any payments received prior to attaining
                the
                indicated volume will be returnable to GM at the close of the model
                year
                should the volume not be attained by ABG. An electronic media transmission
                received after the last business day of the month will be paid by
                the 25th
                of the following month. This electronic media transmission must include
                VIN numbers on the portion of the minimum quantity of units detailed
                in
                Attachment 2 and Attachment 5, delivered in the preceding month,
                and not
                covered in previous payments. Application for this incentive must
                be made
                no later than December
                31, 2007.

            

      

      	10.  	
              In
                the event that Avis Budget Car Rental, LLC does not purchase or lease
                the
                agreed number of vehicles at the agreed mix stated in Attachment
                2, save
                for GM’s failure to deliver, all payments made to Avis Budget Car Rental,
                LLC as described in Paragraphs 9 by General Motors will be reimbursed
                to
                GM on demand subject to Paragraph 13.

            

      

      	11.  	
              In
                the event Avis Budget Car Rental, LLC chooses to cancel any order
                placed
                by Avis Budget Car Rental, LLC through GM dealers, at event code
                3000, GM
                will assess a penalty of $500 per vehicle to be paid to GM upon demand.
                This penalty will be waived if the current production week has been
                delayed more than three weeks from the original requested production
                week.
                Further, this penalty will not apply if Avis Budget Car Rental, LLC
                chooses to redirect the shipment of any vehicles in event code
                3000.

            

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      	12.  	
              All
                volume and mix requirements are subject to reasonable minor adjustments
                based upon mutual agreement between the parties. It is understood
                that
                these adjustments may require Avis Budget Car Rental, LLC to purchase
                a
                comparably priced mix of product.

            

      

      	13.  	
              In
                the event that either party cannot fulfill any terms of this Agreement
                due
                to events

            

      beyond
        its control, such as acts of God, acts of terror, labor disputes, or severe
        economic downturn as defined by the Federal Government, the parties will
        enter
        negotiations with the intent of allowing both to continue business without
        substantial penalty.

      

      	14.  	
              Avis
                Budget Car Rental, LLC agrees that in all advertising and promotional
                materials, developed for its Avis brand during the 2007 Model Year
                (September 1, 2006 through August 31, 2007), Avis advertising will
                feature
                only General Motors products where any vehicle is featured or promoted.
                Consequently, when Avis advertising or promotional materials feature
                or
                promote a vehicle, a General Motors product shall be featured and
                promoted
                provided GM manufactures a vehicle in the advertised segment in accordance
                with the custom of the Rent A Car industry with a tag line substantially
                similar to the following: 

            

       

      “We
        feature (Trade name GM vehicle) and other fine GM vehicles” 

      

      Refer
        to
        Attachment 7 for further guidelines relative to advertising and promotional
        materials. In the event GM is not represented in a given segment Avis Budget
        Car
        Rental, LLC is free to promote a non-GM vehicle in that rental segment. It
        is
        the intent of Avis Budget Car Rental, LLC to feature General Motors products
        at
        its Avis brand including Avis advertising, and promotions. This commitment
        will
        not apply to activities that are internet based. It is understood that vehicles
        will be moved between Rent A Car brands owned by Avis Budget Car Rental,
        LLC
        (“Avis”/”Budget) 

      

      	15.  	
              If
                Avis Budget Car Rental, LLC purchases an existing Avis Licensee or
                substantially all of the assets of an existing Avis Licensee during
                the
                2007 model year, and such existing Avis Licensee
                is:

            

      

      A
        participating Avis Licensee under the terms of the Agreement between the
        Avis
        Licensee Association and GM dated October 1, 2006 (“ALA Agreement”), GM agrees
        to accept an assignment to Avis Budget Car Rental, LLC of the purchase volume,
        mix, and monies identified in the Participation Form executed by the
        Participating Avis Licensee under the ALA Agreement;

      

      Provided
        such agreement is signed by such existing Avis Licensee, the Avis Licensee
        Association, if applicable, and Avis Budget Car Rental, LLC, and is in a
        form
        acceptable to GM.

      

      	16.  	
              If
                Avis Budget Car Rental, LLC purchases an existing Budget Licensee
                or
                substantially all of the assets of an existing licensee during the
                2007
                model year, and such existing Budget Licensee
                is:

            

      

      A
        participating Budget Licensee under the terms of the Agreement between the
        Car
        Rental Licensee Association and GM for the 2007 Model Year, GM agrees to
        accept
        an assignment to Avis Budget Car Rental, LLC of the purchase volume, mix,
        and
        monies identified in the Participation Form executed by the Participating
        Budget
        Licensee under the Car Rental Licensee Association Agreement;

      

      Provided
        such agreement is signed by such existing Budget Licensee, the Car Rental
        Licensee Association, if applicable, and Avis Budget Car Rental, LLC, and
        is in
        a form acceptable to GM.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	17.  	
              GM
                will provide Avis Budget Car Rental, LLC with GM’s 2007 Model Year Daily
                Rental Purchase Program depreciation rates as detailed in Attachments
                1,
                1a, 1b, and 3a on the units described in Attachment 2. GM agrees
                that if
                such depreciation rates are reduced, Avis Budget Car Rental, LLC
                will
                receive a similar reduction. 

            

      

      	18.  	
              Avis
                Budget Car Rental, LLC will provide to GM, at the beginning of each
                month,
                a schedule of anticipated purchases of 2007 model year vehicles (model
                year fleet plan) by division and car line, by month and model year.
                Avis
                Budget Car Rental, LLC, at a minimum, also agrees to provide to GM,
                by
                mid-month, a schedule of vehicle returns by month for the next 3
                calendar
                months and to provide GM at the end of each month, a schedule of
                2006 and
                2007 model vehicle returns by month for the 2006 and 2007 calendar
                years.
                Receipt of the information described in this Paragraph is a condition
                of
                payment of the amounts discussed in this
                Agreement.

            

      

      	19.  	
              Avis
                Budget Car Rental, LLC shall retain any documents or records relevant
                to
                vehicles purchased under this Agreement or any GM program and/or
                claims
                submitted for payment under this Agreement or any other GM program
                for two
                years after the close of the program. Avis Budget Car Rental, LLC
                agrees
                to permit any designated representative of GM to examine, audit,
                and take
                copies of any accounts and records Avis Budget Car Rental, LLC is
                to
                maintain under this Agreement. Avis Budget Car Rental, LLC agrees
                to make
                such accounts and records readily available at its facilities during
                regular business hours. GM agrees to furnish Avis Budget Car Rental,
                LLC
                with a list of any reproduced records.

            

      

      	20.  	
              Part
                of the consideration for Avis Budget Car Rental, LLC’s entry into this
                Agreement is GM or its subsidiary’s continuing obligation to purchase
                vehicles from Avis Budget Car Rental, LLC in accordance with the
                terms of
                GM or its subsidiary’s 2006 Model Year Daily Rental Purchase Programs.
                Accordingly, it shall be a condition to Avis Budget Car Rental, LLC’s
                obligations to purchase vehicles under this 2007 Model Year Daily
                Rental
                Purchase Program Agreement at any time that GM or its subsidiary
                has
                performed its vehicle purchase obligations in all material respects
                with
                respect to eligible vehicles tendered by Avis Budget Car Rental,
                LLC and
                under the terms of GM or its subsidiary’s 2006 model year Purchase
                Programs.

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      MODEL
        YEAR 2008 THROUGH 2010

      

      This
        letter also confirms the Agreement reached between Avis Budget Car Rental,
        LLC
        and GM regarding Avis Budget Car Rental, LLC’s purchase or lease of GM vehicles
        for model year 2008 through 2010. The details of this Agreement are as
        follows:

       

      	21.  	
              GM
                shall extend the terms and conditions of GM’s 2007 Model Year Daily Rental
                Purchase Program (refer Attachments 1, 1A and 1B) for model year
                2008. GM
                reserves the right to place “new” models (as defined by GM) on any of the
                four (4) 2007 MY purchase percentage tiers or create a new tier.
                Additionally, GM reserves the right to shift vehicles only to higher
                percentage tiers, (e.g. shift from tier 1 to tier 2, thus lowering
                ABG’s
                vehicle depreciation cost).

            

      

      GM
        reserves the right to revise depreciation rates in Attachment 1, 1A, and
        1B in
        the 2008 model through 2010 model year. 

      

      	22.  	
              GM
                shall commit to Avis Budget Car Rental, LLC the availability of a
                Daily
                Rental Vehicle Purchase Program (VN9) for model years 2008 through
                2010.
                

            

      

      	23.  	
              GM
                agrees that Avis Budget Car Rental, LLC may purchase or lease from
                GM
                dealers of its choice a minimum of [REDACTED] vehicles for model
                year
                [REDACTED], and [REDACTED] vehicles for model year [REDACTED].
                [REDACTED]

            

       

       

      	24.  	
              GM
                commits to Avis Budget Car Rental, LLC the availability of the National
                Fleet Purchase Program (VX7). GM and Avis Budget Car Rental, LLC
                agree
                that all volumes purchased under the VX 7 program will be combined
                with
                VN9 and YT1 volumes toward the overall volume commitment, and for
                model
                year volume bonus payments... GM further agrees to pay Avis Budget
                Car
                Rental, LLC an additional competitive incentive above the (VX7) invoice
                credit. 

            

      

      	25.  	
              GM
                and Avis Budget Car Rental, LLC agree that vehicle mix and production
                timing provided to Avis Budget Car Rental, LLC in Model Year 2008
                through
                Model Year 2010 will be mutually satisfactory to both
                parties.

            

      

      	26.  	
              During
                the term of this Agreement, provided GM can meet Avis Budget Car
                Rental,
                LLC’s Fleet Purchase requirements, Avis Budget Car Rental, LLC agrees
                that
                in all Avis brand advertising and promotional materials, which Avis
                Budget
                Car Rental, LLC undertakes for future model years, Avis will feature
                only
                General Motors products where any vehicle is featured or promoted
                as
                defined and outlined for the 2007 model year in paragraph 14. Accordingly,
                Avis Budget Car Rental, LLC agrees to allow such space in Avis advertising
                and include such tag lines as is in accordance with the custom of
                the
                trade and industry. In exchange, GM will provide Avis Budget Car
                Rental,
                LLC with a base sum of [REDACTED] for [REDACTED] in model year [REDACTED],
                and [REDACTED] for [REDACTED] in model year [REDACTED]. Should ABG
                choose
                to reduce purchase volume below [REDACTED], in any of the model years,
                as
                a result of rate increases addressed in paragraph 23, the base sums
                will
                be maintained on a per unit basis [REDACTED] for the lower volumes
                purchased. Final incentives will be negotiated for each model year.
                These
                sums are in addition to any incentives due under the terms and conditions
                of GM’s Model Year Daily Rental Fleet Programs, if any are available.
                

            

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      	27.  	
              General
                Motors is hereby notified that Avis Budget Car Rental, LLC” and its
                subsidiaries, AESOP Leasing L.P. (“AESOP Leasing”), Avis Rent A Car
                System, LLC. (“Avis”) and Budget Rent A Car System, Inc. (“Budget”), have
                engaged AESOP Exchange Corporation as a qualified intermediary (“QI”) for
                the purpose of facilitating a like kind exchange program under Section
                1031 of the Internal Revenue Code of 1986, as amended. As such, Avis
                Budget Car Rental, LLC, AESOP Leasing, Avis and Budget have assigned
                to
                AESOP Exchange Corporation, acting in its capacity as QI, all of
                their
                rights, but not their obligations, in any existing manufacturer purchase
                agreements they may have with General Motors either for the purchase
                of
                replacement vehicles or after a qualifier term of use for the purchase
                of
                relinquished vehicles. This notification will apply to either all
                future
                purchases of replacement vehicles or the purchases of relinquished
                vehicles unless specifically excluded in
                writing.

            

      

      	28.  	
              This
                Agreement is confidential between the Parties (Avis Budget Car Rental,
                LLC
                and GM) and is intended for the sole use of Avis Budget Car Rental,
                LLC
                and GM. This Agreement may not be disclosed to any person, other
                than a
                party’s parent, subsidiaries, AESOP Leasing, and their respective outside
                counsel and accountants and interested financial institutions and
                the SEC,
                except as required by legal process without the consent of the other
                Party. In the event of legal process, the Party served shall notify
                the
                other Party or Parties to allow them sufficient time to interpose
                legal
                objections to disclosure.

            

       

      This
        letter represents the sole Agreement between Avis Budget Car Rental, LLC
        and GM
        and can be modified only in a writing executed by an authorized representative
        of each of the Parties.

      

      On
        behalf
        of the General Motors’ Car and Truck Divisions, I would like to express my
        appreciation for your business and hope this Agreement will continue to
        strengthen our business relationship.

      

      Please
        return a copy of this letter acknowledging your agreement to the
        above.

      

      Very
        truly yours,

      

      /s/Brian
        McVeigh

      

      Brian
        McVeigh

      General
        Manager

      Fleet
        & Commercial Operations

      

      Acknowledged
        and Agreed

      Avis
        Budget Car Rental, LLC .

      

      By:
        /s/
        Edward Gitlitz    Date:
        October 5, 2006

      

      Name:
        Edward Gitlitz

      Title:
        Senior Vice President - Fleet Services, Avis Budget Car Rental, LLC   

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Attachment
      1 

    

    GENERAL
      MOTORS CORPORATION

    2007
      MY DAILY RENTAL PURCHASE PROGRAM GUIDELINES

    

    

    
      	
              1.

            	
              PROGRAM
                NAME AND NUMBER:

            

    

    
      	 	
              2007
                Model Year Daily Rental Purchase Program for Daily Rental Operators
                -
                Program No. 01-07.

            

    

    

    
      	
              2.

            	
              PROGRAM
                DESCRIPTION:

            

    

    

    
      	 	
              To
                provide General Motors dealers purchase information on selected 2007
                model
                year passenger cars and light duty trucks sold and delivered by GM
                dealers
                to qualified daily rental operators and eligible for purchase by
                General
                Motors in accordance with the guidelines
                herein.

            

    

    

    
      	
              3.

            	
              PROGRAM
                ALLOWANCES:

            

    

    

    
      	 	
              The
                purchase amount shall be calculated as a percent of dealer invoice
                including freight. The purchase percentage varies month by month
                and is
                determined by the month the vehicle is returned
                to and accepted by General Motors
                in
                accordance with GM 2006CY
                Daily Rental Guaranteed Residual Program Process,
                Procedures, And Return Standards
                (Attachment “1C”).

            

    

    

    
      	 	
              -

            	
              Vehicles
                are assigned into one of the four tier groups. (Refer Attachment
                "1A"
                for tier composition and Attachment "1B" for respective tier monthly
                purchase percentage).

            

    

    

    
      	 	
              -

            	
              The
                daily purchase rate equals the change in the monthly rate divided
                by the
                number of calendar days for that
                month.

            

    

    

    
      	 	
              -

            	
              Depreciation
                from capitalized cost will be based on specific purchase percentages
                of
                dealer invoice, scaled by vehicle assignment into one of four tier
                groups.
                Purchase percentages vary by month of return to and acceptance by
                GM
                (out-of-service date as described in Attachment
                “1B”).

            

    

    

    
      	 	
              -

            	
              In-service
                date shall be five (5) days following the expiration in-transit date
                as
                shown on the factory invoice.

            

    

     

    
      
        	 	
                -

              	
                Out-of-service
                  date shall be the date the vehicle is returned to an approved GM
                  turn-in
                   site
                  provided the rental company meets all program parameters and completes
                  the
                  sign-off procedures.

              

      

    

     

    Units
      in the program are ineligible
      for the
      following:

    
      
        

        
          	 	
                  -

                	
                  Vehicles
                    are not eligible for Preferred Equipment Group (P.E.G.)/Option
                    Group
                    discounts. 

                

          	 	 	 

        

      

    

    
      	 	
              -
                

            	
              The
                following models are not eligible: Van Conversions (including Hi-Cube
                and
                Step-Van), Full Size Cargo Vans, Hummer H1, and Saab All
                Models.

            

    

     

    
      	 	
              -
                

            	
              Vehicles
                delivered from dealer inventory are not
                eligible for enrollment in the 2007 Daily Rental Purchase
                Program.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              4.

            	
              ORDER/
                DELIVERY/IN-SERVICE/PRODUCTION
                PERIOD:

            

    

    

    
      	 	
              Order
                - beginning with announcement of the 2007 model year program and
                ending
                when dealers are notified that 2006 model year orders are no longer
                being
                accepted.

            

    

    

    All
      Orders must be received under the FDR order type.

    

    
      	 	
              Delivery,
                In-Service, Production - 2007 model
                year.

            

    

    
      	 	
              Delivery
                must be reported as an 020 - Daily Rental Delivery
                type

            

    

    

    
      	 	
              IMPORTANT -
                Acceptance of an order on any vehicle line does not constitute a
                commitment to build or to build in a requested time
                frame.

            

    

    

    
      	 	
              Minimum
                In-Service Period - None.

            

    

    

    
      	 	
              Maximum
                In-Service Period - 24 months or July 31, 2009 (which ever occurs
                first).

            

    

    

    
      	 	
              Mileage
                Requirements:

            

    

    

    
      	 	
              -

            	
              No
                maximum mileage limitations.

            

    

    
      	 	
              -

            	
              Refer
                to Attachment “1B” for excess mileage
                penalties.

            

    

    

    
      	 	
              All
                units to be purchased by General Motors Corporation under this program
                must be returned and accepted by July 31, 2009. Non-returned
                vehicles must remain in service a minimum of six (6) months (180
                days)
                from in-service date as noted on page 1 of these program
                guidelines.
                GM
                reserves the right to audit the rental company to ensure compliance
                with
                the minimum six (6) month in-service requirement. Frame, fire and/or
                water
                damaged vehicles which are ineligible for purchase have no minimum
                in-service period. Documentation on these vehicles must be retained
                on file for audit purposes. 

            

    

    

    
      	
              5.

            	
              ELIGIBLE
                MODELS/REQUIRED OPTIONS AND/OR ORDER
                TYPES:

            

    

    

    
      	 	
              All
                new and unused 2007 General Motors models, specified on Attachment
                "1A",
                with required minimum factory installed equipment levels specified
                (see
                “2007 MY Minimum Equipment File” Attachment “1D”) and processing options
                ordered for qualified daily rental operators for use as daily rental
                vehicles and delivered by GM dealers. (Refer to
                10A).

            

    

    

    
      	 	
              All
                qualified fleet orders for eligible models received from dealers
                must
                contain a valid Fleet Order Type -
                FDR.

            

    

    

    
      	 	
              Ordering
                Instructions: All purchase orders must contain fleet processing option
                VN9
                and your customer UPC processing code. Vehicles must be ordered with
                minimum option requirements specified (see “2007 MY Minimum Equipment
                File” Attachment “1D”).

            

    

    

    
      	 	
              Dealer
                must take full responsibility for including the proper processing
                option
                on all orders. Should errors occur in the ordering of vehicles, resulting
                in diversions or reinvoicing, the dealer may be charged an administrative
                fee.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    
      	 	
              All
                qualified fleet orders for eligible models received from the dealer
                must
                contain the Fleet Account Number (FAN) of record and account
                name.

            

    

    

    
      	 	
              The
                ordering entity is responsible for checking dealer order acknowledgements
                to verify accuracy of order
                submitted.

            

    

    

    
      	 	
              Dealer
                orders currently on hand or in the system that qualify under this
                program,
                unless they do not contain the appropriate processing options, can
                be
                amended or canceled and reordered if they have not been released
                to
                production. This
                is the ordering dealer's responsibility.

            

    

    

    
      	 	
              Fleet
                orders submitted with Fleet Processing Option VN9 and incompatible
                retail
                incentive options will be rejected with an error
                message.

            

    

    

    
      	 	
              Colors
                Not Eligible for Purchase - Refer Mandatory Optional
                Equipment.

            

    

    

    
      	 	
              Required
                Options - Processing Option VN9
                and your customer assigned UPC processing code must be ordered by
                the
                dealer on purchase vehicles to be enrolled in the 2007 Model Year
                Daily
                Rental Purchase Program. Processing
                Option VN9 will provide a net invoice - less holdback.
                

            

    

    

    

    
      	
              6.

            	
              COMPATIBLE
                INCENTIVE/ALLOWANCE
                PROGRAMS:

            

    

    

    
      	 	
              Vehicles
                enrolled in the 2007 Model Year Daily Rental Purchase Program are
                not
                eligible for any other fleet/retail program, including, but not limited
                to, the Dealer Fleet Ordering Assistance Program (VQ), and any General
                Motors Dealer Rent A Car program.

            

    

    

    

    
      	
              7.

            	
              METHOD
                OF APPLICATION: Not
                Applicable.

            

    

    

    

    
      	
              8.

            	
              METHOD
                OF PAYMENT:

            

    

    

    
      	 	
              Check
                to title holder or financial institution upon receipt and clearance
                of
                proper paperwork at an approved GM turn-in site and General Motors
                Corporation.

            

    

    

    
      	 	
              Purchase
                payment is made in the form of a check to the title holder or financial
                institution at the address shown on the title, or address information
                received in the form of a RAVE record, unless prior arrangements
                are
                made.

            

    

    

    
      	 	
              The
                Payment Modification System (PMS) provides an effective method to
                redirect
                purchase checks to lending institutions as co-payee with the titled
                owner.

            

    

    

    
      	 	
              If
                a lender and a daily rental operator desire co-payee/redirection,
                please
                direct requests for additional information in writing
                to:

            

    

     

    
      
        	
                ACS

                1225
                  W. Washington

                Suite
                  300

                Tempe,
                  Az.

                85281-1210

              	Valita.Neighbors@ACS-inc.com
                Ph#
                  602-797-5289

                Fax
                  602-797-6551

              	
                 

              

      

    

     

    

      
        	
                9.

              	
                FINAL
                  DATE FOR SUBMISSION OF APPLICATIONS AND RESOLUTION OF ALL APPLICABLE
                  REJECTS:
                  Not Applicable

              

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    
      	
              10.

            	
              OTHER
                PROGRAM GUIDELINES:

            

    

    

    
      	 	
              A.

            	
              This
                is the General Motors guideline regarding the definition of a "rental"
                vehicle:

            

    

    

    
      	 	 	
              "The
                bona fide rental of a vehicle involving use and payment by a customer
                on
                an hourly, daily, weekly, or monthly basis. Usage of any such vehicle(s)
                by a customer for a period of four (4) consecutive months or longer
                shall
                be deemed to constitute leasing and not rental and will make the
                vehicle
                ineligible for purchase."

            

    

    

    
      	 	 	
              In
                the event a vehicle enrolled in the Daily Rental Purchase Program
                is found
                to be on-rent (lease) to a customer in excess of the above guideline,
                or
                if the customer consecutively rents multiple enrolled vehicles for
                an
                aggregate term of four (4) or more months, all vehicles involved
                in such
                transactions will not be considered rental and will be ineligible
                for
                purchase. If
                necessary, General Motors will audit the rental company to ensure
                compliance with this guideline.

            

    

    

    
      	 	
              B.

            	
              All
                General Motors general guidelines and definition of terms relative
                to
                incentive programs (refer to General Motors Dealer Sales Allowance
                and
                Incentive Manual Articles 2 and 3) that were supplied to your dealership
                apply to this program.

            

    

    

    
      	 	
              C.

            	
              All
                eligible units must be delivered to the ultimate customer through
                a
                General Motors dealership or a qualified drop-ship location. Purchases
                or
                deliveries made through any other entity or individual are ineligible
                for
                payment.

            

    

    

    
      	 	
              D.

            	
              All
                deliveries to customers with a valid Fleet Account Number (FAN) must
                be
                reported as 020 Daily Rental fleet delivery regardless of order
                type.

            

    

    

    
      	 	
              E.

            	
              Failure
                to comply with these guidelines may result in the dealer being
                disqualified for future participation in fleet programs and terminations
                of dealer sales and service
                agreement(s).

            

    

    

    
      	 	
              F.

            	
              Orders
                not produced during the 2007 model production period will be canceled.
                There are no provisions for dealers and/or rental customers to receive
                any
                allowance for canceled orders.

            

    

     

    
      
        	 	
                G.

              	
                Capitalized
                  cost shall be calculated at dealer cost of base vehicle and optional
                  equipment, plus freight, less Hawaii excise tax and tire weight
                  tax, if
                  applicable.

              

        	 	 	 

      

    

    
      	 	
              H.

            	
              General
                Motors reserves the right to cancel, amend, revise, or revoke any
                program
                at any time based on its sole business judgements. Final decisions
                in all
                matters relative to the interpretation of any rule or phase of this
                activity rests solely with General
                Motors.

            

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Attachment
        1A

      

      2007
        Model Year - Daily Rental Fleet Program

      Tier
        Repurchase Program

       

       

      
        	
                Tier
                  1

              	 	 	
                Tier
                  2

              	 	 	
                Tier
                  3

              	 	 	
                Tier
                  4

              
	
                 

              	 	 	
                 

              	 	 	
                 

              	 	 	
                 

              
	
                Aveo

              	
                 

              	
                 

              	
                Impala

              	
                 

              	
                 

              	
                Lucerne

              	
                 

              	
                 

              	
                DTS

              
	
                Cobalt

              	
                 

              	
                 

              	
                Monte
                  Carlo

              	
                 

              	
                 

              	
                Canyon

              	
                 

              	
                 

              	
                STS

              
	
                HHR

              	
                 

              	
                 

              	
                Silverado

              	
                 

              	
                 

              	
                Colorado

              	
                 

              	
                 

              	
                SRX

              
	
                Vibe

              	
                 

              	
                 

              	
                Sierra

              	
                 

              	
                 

              	
                Suburban

              	
                 

              	
                 

              	
                 

              
	
                Solstice

              	
                 

              	
                 

              	
                Rendevous

              	
                 

              	
                 

              	
                Yukon
                  XL

              	
                 

              	
                 

              	
                 

              
	
                Sky

              	
                 

              	
                 

              	
                Express

              	
                 

              	
                 

              	
                Tahoe

              	
                 

              	
                 

              	
                 

              
	
                Aura

              	
                 

              	
                 

              	
                Savana

              	
                 

              	
                 

              	
                Yukon

              	
                 

              	
                 

              	
                 

              
	
                G5

              	
                 

              	
                 

              	
                SSR

              	
                 

              	
                 

              	
                Escalade

              	
                 

              	
                 

              	
                 

              
	
                G6

              	
                 

              	
                 

              	
                H3

              	
                 

              	
                 

              	
                H2

              	
                 

              	
                 

              	
                 

              
	
                Malibu

              	
                 

              	
                 

              	
                Uplander

              	
                 

              	
                 

              	
                Acadia

              	
                 

              	
                 

              	
                 

              
	
                Grand
                  Prix

              	
                 

              	
                 

              	
                Trailblazer

              	
                 

              	
                 

              	
                Outlook

              	
                 

              	
                 

              	
                 

              
	
                LaCrosse

              	
                 

              	
                 

              	
                Terraza

              	
                 

              	
                 

              	
                CTS

              	
                 

              	
                 

              	
                 

              
	
                GTO

              	
                 

              	
                 

              	
                Relay

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              
	
                Ion

              	
                 

              	
                 

              	
                Envoy

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              

      

    

     

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      Attachment
        1B

       

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    

      VOLUME/INCENTIVE
        DETAIL

      
        ATTACHMENT
          2

      

    

     

    
       

       

      VN9                         Attachment
        2                     

        
          	 	
                  BRANDS

                	 	
                  $
                    P/U 

                	 	
                  EXTENDED
                    INCENTIVE

                	 
	 	
                  AVEO

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  COBALT

                	
                  $

                	 	
                  $

                	 	 
	 	
                  HHR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  VIBE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ION

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G5

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G6
                    NON-CONVERTIBLE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G6
                    CONVERTIBLE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    SM / COMPACT 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  MALIBU

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  MALIBU
                    MAXX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  AURA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  LACROSSE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  GRAND
                    PRIX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  MONTE
                    CARLO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  IMPALA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  GTO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    MIDSIZE 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  LUCERNE

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    FULLSIZE 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  DTS

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  STS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CTS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  XLR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-2X

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-7X

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-3

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-5

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    LUXURY 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  EQUINOX

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  VUE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  H2

                	
                  $

                	 	
                  $

                	 	 
	 	
                  H3

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TRAILBLAZER

                	
                  $

                	 	
                  $

                	 	 
	 	
                  RAINIER

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SSR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ENVOY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SRX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TAHOE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ESCALADE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  YUKON

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SUBURBAN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  YUKON
                    XL

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    UTILITY 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  SIERRA
                    900

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  SILVERADO
                    900

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CANYON

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SILVERADO
                    800 (CLASSIC)

                	
                  $

                	 	
                  $

                	 	 
	 	
                  COLORADO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  AVALANCHE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SIERRA
                    800 (CLASSIC)

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    PICKUP 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  SOLSTICE

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  SKY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CORVETTE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    SPORT 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  RENDEZVOUS

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  TORRENT

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ACADIA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OUTLOOK

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    CROSS OVER 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  UPLANDER

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	
                  EXPRESS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  EXPRESS
                    CARGO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TERRAZA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAVANA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  RELAY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    VAN 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 
	 	 	 	 	 	 	 
	 	
                   

                	 	 	 	 	 
	 	
                  GRAND
                    TOTAL

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED]

                	 

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      
        

          VOLUME/INCENTIVE
            DETAIL

          
            ATTACHMENT
              2

            VN9        AVIS
              BUDGET -
              0300    

            
              
                	
                        BRANDS

                      	
                        Initial
                          

                        Contract

                      	
                        Jul-06

                      	
                        Aug-06

                      	
                        Sep-06

                      	
                        Oct-06

                      	
                        Nov-06

                      	
                        Dec-06

                      	
                        Jan-07

                      	
                        Feb-07

                      	
                        Mar-07

                      	
                        Apr-07

                      	
                        May-07

                      	
                        Jun-07

                      	
                        RECON

                      	
                        TOTAL
                          REVISION

                      	
                        REVISED
                          CONTRACT

                      	
                        REVISED
                          VS INITIAL

                      
	
                        AVEO

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        COBALT

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        HHR

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        VIBE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        ION

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        G5

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        G6
                          NON-CONVERTIBLE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        G6
                          CONVERTIBLE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          SM / COMPACT 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        MALIBU

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        MALIBU
                          MAXX

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        AURA

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        LACROSSE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        GRAND
                          PRIX

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        MONTE
                          CARLO

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        IMPALA

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        GTO

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          MIDSIZE 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        LUCERNE

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          FULLSIZE 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        DTS

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        STS

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        CTS

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        XLR

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SAAB
                          9-2X

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SAAB
                          9-7X

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SAAB
                          9-3

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SAAB
                          9-5

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          LUXURY 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        EQUINOX

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        VUE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        H2

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        H3

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TRAILBLAZER

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        RAINIER

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SSR

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        ENVOY

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SRX

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TAHOE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        ESCALADE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        YUKON

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SUBURBAN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        YUKON
                          XL

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          UTILITY 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        SIERRA
                          900

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        SILVERADO
                          900

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        CANYON

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SILVERADO
                          800 (CLASSIC)

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        COLORADO

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        AVALANCHE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SIERRA
                          800 (CLASSIC)

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          PICKUP 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        SOLSTICE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SKY

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        CORVETTE

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          SPORT 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        RENDEZVOUS

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        TORRENT

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        ACADIA

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OUTLOOK

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        OPEN

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          CROSS OVER 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        UPLANDER

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	
                        EXPRESS

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        EXPRESS
                          CARGO

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TERRAZA

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        SAVANA

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        RELAY

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        TOTAL
                          VAN 

                      	
                        [REDACTED]

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        [REDACTED]

                      	
                        -
                          

                      
	 	 	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	
                         

                      	 	
                         

                      
	
                         

                      	 	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	
                        -
                          

                      	 	
                        -
                          

                      
	
                        GRAND
                          TOTAL

                      	
                        [REDACTED]

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        -

                      	
                        [REDACTED]

                      	
                        -

                      

              

            

          

        

      

       

      
        	
                __________________________________________

              	
                 

              	
                Date:___________________________

              	
                 

              	
                 

              	
                 

              	
                 

              	
                __________________________________________

              
	
                Acknowledged
                  and Agreed

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                General
                  Motors Approved

              	
                 

              

         

         

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        Attachment
          3 

        

        GENERAL
          MOTORS CORPORATION

        2007
          MY SHORT-TERM YT1- DAILY RENTAL PURCHASE PROGRAM
          GUIDELINES

        

        

        
          	
                  1.

                	
                  PROGRAM
                    NAME AND NUMBER:

                

        

        

        
          	 	
                  2007
                    Model Year Daily Rental Purchase Program for Daily Rental Operators
                    -
                    Program No. 01-07S.

                

        

        

        
          	
                  2.

                	
                  PROGRAM
                    DESCRIPTION:

                

        

        

        
          	 	
                  To
                    provide General Motors dealers certain purchase information on
                    selected
                    2007 model year passenger cars and light duty trucks sold and
                    delivered by
                    GM dealers to qualified daily rental operators and eligible for
                    purchase
                    by General Motors in accordance with the guidelines
                    herein.

                

        

        

        
          	 	
                  This
                    program contains the following
                    attachments:

                

        

        Attachment
          3A:  Vehicle
          Depreciation Rates

        Attachment
          3B:  Required
          Minimum Equipment Levels

        Attachment
          3C:  GM
          2006CY
          Daily Rental Guaranteed Residual Program Process, Procedures, And Return
          Standards

         

        
          	
                  3.

                	
                  PROGRAM
                    ALLOWANCES:

                

        

        

        
          	 	
                  The
                    purchase amount shall be calculated beginning with dealer invoice
                    including freight. Deducted from Dealer Invoice will be depreciation
                    factored on the monthly depreciation rate times 12 months and
                    divided by
                    365 days in the year multiplied by the number of days in service
                    determined by the day the vehicle is returned
                    to and accepted by General Motors
                    in
                    accordance with GM Turnback Standards & Procedures
                    (Attachment3C).

                

        

        

        
          	 	
                  -

                	
                  Return
                    purchase amount will be net of calculated depreciation and applicable
                    damage including MET items and/or mileage penalties as well as
                    any other
                    applicable administration fees as noted in the GM Turnback Standards
&
                    Procedures (Attachment 3C).

                

        

        

        
          	 	
                  -

                	
                  In-service
                    date shall be five (5) days following the expiration in-transit
                    date as
                    shown on the factory invoice.

                

        

         

        
          
            	 	
                    -

                  	
                    Out-of-service
                      date shall be the date the vehicle is returned to an approved
                      GM turn-in
                      site provided the rental fleet customer meets all program parameters
                      and
                      completes the sign-off
                      procedures.

                  

        

        
          	 	
                  Vehicles
                    are not eligible for Preferred Equipment Group (P.E.G.)/Option
                    Group
                    discounts.

                

        

         

        The
          following models are not eligible: Van Conversions (including Hi-Cube and
          Step-Van), Full Size Cargo Vans, Hummer H1, and Saab All Models.

         

        
          	 	
                  Vehicles
                    delivered from dealer inventory are not
                    eligible for enrollment in the 2007 Daily Rental Purchase
                    Program.

                

        

         

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

         

        
          	
                  4.

                	
                  ORDER/
                    DELIVERY/IN-SERVICE/PRODUCTION
                    PERIOD:

                

        

        

        
          	 	
                  Order
                    - beginning with announcement of the 2007 model year program
                    and ending
                    when dealers are notified that 2005 model year orders are no
                    longer being
                    accepted.

                

        

        

        Fleet
          Order Type     FDR

        Mandatory
          Ordering Options   
VN9,
          YT(x)

        Customer
          Assigned UPC    

        Minimum
          Equipment   See
          Attachment 3B

        

        Delivery

        All
          eligible units must be delivered to the ultimate customer through a General
          Motors dealership or a qualified drop-ship location. Purchases or deliveries
          made through any other entity or individual are ineligible for
          payment.

        

        
          	 	
                  All
                    deliveries to customers with a valid Fleet Account Number (FAN)
                    must be
                    reported as fleet deliveries regardless of order type.
                    

                

        

        

        Required
          Fleet Delivery Type   020
          -
          Daily Rental

        

        
          	 	
                  IMPORTANT
                    -
                    Acceptance of an order on any vehicle line does not constitute
                    a
                    commitment to build or to build in a requested time
                    frame.

                

        

         

        
          	 	
                  In-Service
                    Requirements 

                

        

        
          	 	
                  Minimum
                    In-Service Period - 5 months

                

        

        

        
          	 	
                  Maximum
                    In-Service Period - 12 months

                

        

        

        
          	 	
                  Mileage
                    Requirements:

                

        

        
          	 	- 	 0-150 days in Service - 19,000 Free
                  Miles

          	 	
                  -

                	
                  151-365
                    days in Service - 24,000 Free Miles

                

        

        
          	 	
                  -

                	
                  Mileage
                    Penalty: $0.35/excess mile

                

        

         

        
          	 	
                  All
                    units to be purchased by General Motors Corporation under this
                    program
                    must be returned and accepted by July 31, 2008. Non-returned
                    vehicles must remain in service a minimum of six (6) months (180
                    days)
                    from in-service date as noted on page 1 of these program
                    guidelines.
                    GM
                    reserves the right to audit the rental company to ensure compliance
                    with
                    the minimum six (6) month in-service requirement. Frame, fire
                    and/or water
                    damaged vehicles which are ineligible for purchase have no minimum
                    in-service period. Documentation on these vehicles must be retained
                    on
                    file for audit purposes. 

                

        

        

        
          	
                  5.

                	
                  ELIGIBLE
                    MODELS/REQUIRED OPTIONS AND/OR ORDER
                    TYPES:

                

        

        

        
          	 	
                  All
                    new and unused 2007 General Motors models, specified on Attachment
                    3A,
                    with required minimum factory installed equipment levels specified
                    on
                    Attachment 3B and processing options ordered for qualified daily
                    rental
                    operators for use as daily rental vehicles and delivered by GM
                    dealers.
                    (Refer to 10A).

                

        

        

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	 	
                  All
                    qualified fleet orders for eligible models received from dealers
                    must
                    contain a valid Fleet Order Type.

                

        

        

        
          	 	
                  Ordering
                    Instructions: All purchase orders must contain fleet processing
                    option
                    VN9, YT1 and your customer UPC processing code. Vehicles must
                    be ordered
                    with minimum option requirements specified on Attachment
                    3B.

                

        

        

        
          	 	
                  Dealer
                    must take full responsibility for including the proper processing
                    option
                    on all orders. Should errors occur in the ordering of vehicles,
                    resulting
                    in diversions or re-invoicing, the dealer may be charged an administrative
                    fee.

                

        

        

        
          	 	
                  All
                    qualified fleet orders for eligible models received from the
                    dealer
                    must
                    contain the Fleet Account Number (FAN) of record and account
                    name.

                

        

        

        
          	 	
                  The
                    ordering entity is responsible for checking dealer order acknowledgements
                    to verify accuracy of order submitted. Dealer orders currently
                    on hand or
                    in the system that qualify under this program, unless they do
                    not contain
                    the appropriate processing options, can be amended or canceled
                    and
                    reordered if they have not been released to production. This
                    is the ordering dealer's responsibility.

                

        

        

        
          	 	
                  Fleet
                    orders submitted with Fleet Processing Option VN9 and incompatible
                    retail
                    incentive options will be rejected with an error
                    message.

                

        

        

        
          	 	
                  Colors
                    Not Eligible for Purchase - Refer Mandatory Optional
                    Equipment.

                

        

        

        
          	 	
                  Required
                    Options - Processing Option VN9,
                    YT(x)
                    and your customer assigned UPC processing code must be ordered
                    by the
                    dealer on purchase vehicles to be enrolled in the 2007 Model
                    Year Daily
                    Rental Purchase Program. Processing
                    Option VN9 will provide a net invoice - less holdback.
                    

                

        

        

        
          	
                  6.

                	
                  COMPATIBLE
                    INCENTIVE/ALLOWANCE
                    PROGRAMS:

                

        

        

        
          	 	
                  Vehicles
                    enrolled in the 2007 Model Year Daily Rental Purchase Program
                    are
                    not
                    eligible for any other fleet/retail program, including, but not
                    limited
                    to, the Dealer Fleet Ordering Assistance Program (VQ), and any
                    General
                    Motors Dealer Rent A Car program.

                

        

        

        
          	
                  7.

                	
                  METHOD
                    OF APPLICATION:
                    Not Applicable.

                

        

        

        
          	
                  8.

                	
                  METHOD
                    OF PAYMENT:

                

        

        

        
          	 	
                  Check
                    to title holder or financial institution upon receipt and clearance
                    of
                    proper paperwork at an approved GM turn-in site and General Motors
                    Corporation.

                

        

        

        
          	 	
                  Purchase
                    payment is made in the form of a check to the title holder or
                    financial
                    institution at the address shown on the title, or address information
                    received in the form of a RAVE record, unless prior arrangements
                    are
                    made.

                

        

        

        
          	 	
                  The
                    Payment Modification System (PMS) provides an effective method
                    to redirect
                    purchase checks to lending institutions as co-payee with the
                    titled
                    owner.

                

        

         

        
          	 	
                  If
                    a lender and a daily rental operator desire co-payee/redirection,
                    please
                    direct requests for additional information in writing
                    to:

                

        

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        

          
            	 	
                    ACS 

                    1225
                      W. Washington

                    Suite
                      300

                    Tempe,
                      Az. 85281-1210

                  	
                    Valita.Neighbors@ACS-inc.com

                    Ph#
                      602-797-5289

                    Fax
                      602-797-6551

                  	 

          

        

         

         

        
          	
                  9.

                	
                  FINAL
                    DATE FOR SUBMISSION OF APPLICATIONS AND RESOLUTION OF ALL APPLICABLE
                    REJECTS:
                    Not Applicable

                

        

        

        
          	
                  10.

                	
                  OTHER
                    PROGRAM GUIDELINES:

                

        

        

        
          	 	
                  A.

                	
                  This
                    is the General Motors guideline regarding the definition of a
                    "rental"
                    vehicle:

                

        

        

        
          	 	 	
                  "The
                    bona fide rental of a vehicle involving use and payment by a
                    customer on
                    an hourly, daily, weekly, or monthly basis. Usage of any such
                    vehicle(s)
                    by a customer for a period of four (4) consecutive months or
                    longer shall
                    be deemed to constitute leasing and not rental and will make
                    the vehicle
                    ineligible for purchase."

                

        

        

        
          	 	 	
                  In
                    the event a vehicle enrolled in the Daily Rental Purchase Program
                    is found
                    to be on-rent (lease) to a customer in excess of the above guideline,
                    or
                    if the customer consecutively rents multiple enrolled vehicles
                    for an
                    aggregate term of four (4) or more months, all vehicles involved
                    in such
                    transactions will not be considered rental and will be ineligible
                    for
                    purchase. If
                    necessary, General Motors will audit the rental company to ensure
                    compliance with this guideline.

                

        

        

        
          	 	
                  B.

                	
                  All
                    General Motors general guidelines and definition of terms relative
                    to
                    incentive programs (refer to General Motors Dealer Sales Allowance
                    and
                    Incentive Manual Articles 2 and 3) that were supplied to your
                    dealership
                    apply to this program.

                

        

        

        
          	 	
                  C.

                	
                  All
                    eligible units must be delivered to the ultimate customer through
                    a
                    General Motors dealership or a qualified drop-ship location.
                    Purchases or
                    deliveries made through any other entity or individual are ineligible
                    for
                    payment.

                

        

        

        
          	 	
                  D.

                	
                  All
                    deliveries to customers with a valid Fleet Account Number (FAN)
                    must be
                    reported as fleet deliveries regardless of order
                    type.

                

        

         

        
          

          
            	 	
                    E.

                  	
                    
                      Failure
                        to comply with these guidelines may result in the dealer
                        being
                        disqualified for future participation in fleet programs and
                        terminations
                        of dealer sales and service
                        agreement(s).

                    

                  

          

          
 

        

        
          	 	
                  F.

                	
                  Orders
                    not produced during the 2007 model production period will be
                    canceled.
                    There are no provisions for dealers and/or rental customers to
                    receive any
                    allowance for canceled orders. 

                

        

         

        
           

          
            
              	 	
                      G.

                    	
                      
                        Capitalized
                          cost shall be calculated at dealer cost of base vehicle
                          and optional
                          equipment, plus freight, less Hawaii excise tax and tire
                          weight tax, if
                          applicable.

                      

                    

            

          

        

        
          
 

          
            	 	
                    H.

                  	
                    
                      General
                        Motors reserves the right to cancel, amend, revise, or revoke
                        any program
                        at any time based on its sole business judgements. Final
                        decisions in all
                        matters relative to the interpretation of any rule or phase
                        of this
                        activity rests solely with General
                        Motors.

                    

                  

          

           

        

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

        Attachment
          3 A

         

        

          

        

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      Attachment
        4

      

        General
          Motors Corporation

        2007
          Model Year 

        Repurchase-Rental
          Reclassification Program

        

        

        	A.  	
                Program
                  Guidelines:

              

        Vehicles
          eligible for the repurchase-rental reclassification program must have an
          average
          of [REDACTED]
          miles
          prior to resale in the used car market. It is the rental account’s
          responsibility to maintain on file verification of vehicle mileage at the
          time
          the vehicle is sold in the used car market. GM
          reserves the right to audit the rental company to insure compliance with
          this
          guideline.

        

        Rental
          customers must submit [REDACTED]
          of
          the
          rental customer’s total GM 2007 model year daily rental vehicle purchases
          (excluding any rejected turnback units), before GM will process a
          reclassification application. These vehicles must be identified by VIN
          through
          electronic media transmission to GM - (C3 De-Enroll File Format.) Once
          processed, these units will be identified in the GM’s auction system (RIMS) as
          permanent auction rejects and will be ineligible for return to GM.

        

        Permanently
          rejected auction vehicles are also considered ineligible for reclassification
          incentive allowances. No exceptions will be made for reasons of frame,
          fire or
          flood damage for the 2007 model year reclassification
          program.

        

        Vehicles
          previously turned-in and accepted by a GM-Sponsored Auction location are
          not
          eligible for reclassification.

        

        Vehicles
          selected for reclassification by the rental customer, which are not deemed
          “permanent rejects” must have been used exclusively in daily rental business,
          and must comply with the terms and conditions outlined in GM's National
          Fleet
          Purchase Program for the appropriate 2006 model year.

        

        

        	B.  	
                Application
                  Requirements:

              

        Application
          for payment will be accepted on a quarterly
          basis.

        

        Reclassification
          applications must be submitted to RIMS using an FTP service i.e. FileDrive
          in
          the DE_ENROLL file format.

         

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
           

          	C.  	
                  Final
                    date of submission for payment for the 2007 Model Year:
                    

                

        

         

        June
          30, 2009.

         

        
          

          

          	D.  	
                  General
                    Policy Guidelines:

                

        

         

        Rental
          customer agrees to retain any documents or records relevant to vehicles
          purchased under this program and/or claims submitted for payment under
          this
          program for two years after the close of this program. Rental customer
          agrees to
          permit any designated representative of GM to examine audit and take copies
          of
          any accounts and records the rental customer is to maintain under this
          program.
          The rental customer agrees to make such accounts readily available at its
          facilities during regular business hours. GM agrees to furnish the rental
          customer with a list of any reproduced records.

        

        GM
          reserves the right to cancel, amend, revise or revoke any program at any
          time
          based on its sole business judgements. Final decisions in all matters relative
          to the interpretation of any rule or phase of this activity rests solely
          with
          General Motors.

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

     

    
      Attachment
        4 B

       

       

      
        
          	 	 	
                   

                	 	
                  Reclass

                  Funds

                	 
	 	
                  AVIS
                    BUDGET

                	
                   

                	 	 	 
	 	
                  Vehicle
                    Line Mix:

                	 	 	
                  $/Unit

                	 
	 	 	
                   

                	 	 	 
	 	
                  Aveo
                    

                	
                   

                	 	
                  [REDACTED]

                	 
	 	
                  HHR
                    

                	
                   

                	 	 	 
	 	
                  Cobalt
                    

                	
                   

                	 	 	 
	 	
                  Vibe
                    

                	
                   

                	 	 	 
	 	
                  Saturn
                    ION 

                	
                   

                	 	 	 
	 	
                  G5
                    

                	
                   

                	 	 	 
	 	 	
                   

                	 	 	 
	 	
                  G6

                	
                   

                	 	
                  [REDACTED] 

                	 
	 	
                  Malibu
                    

                	
                   

                	 	 	 
	 	
                  Impala

                	
                   

                	 	 	 
	 	
                  Aura

                	
                   

                	 	 	 
	 	
                  Monte
                    Carlo

                	
                   

                	 	 	 
	 	
                  Grand
                    Prix

                	
                   

                	 	 	 
	 	
                  LaCrosse

                	
                   

                	 	 	 
	 	
                  GTO

                	
                   

                	 	 	 
	 	 	
                   

                	 	 	 
	 	
                  Lucerene

                	
                   

                	 	
                  [REDACTED] 

                	 
	 	 	
                   

                	 	 	 
	 	
                  DTS

                	
                   

                	 	
                  [REDACTED] 

                	 
	 	
                  STS

                	
                   

                	 	 	 
	 	
                  CTS

                	
                   

                	 	 	 
	 	 	
                   

                	 	 	 
	 	
                  Uplander

                	
                   

                	 	
                  [REDACTED] 

                	 
	 	
                  Terraza

                	
                   

                	 	 	 
	 	
                  Relay

                	
                   

                	 	 	 
	 	 	
                   

                	 	 	 
	 	
                  TrailBlazer

                	
                   

                	 	
                  [REDACTED] 

                	 
	 	
                  Envoy

                	
                   

                	 	 	 
	 	
                  Rainer

                	
                   

                	 	 	 
	 	
                  H2

                	
                   

                	 	 	 
	 	
                  H3

                	
                   

                	 	 	 
	 	
                  SSR

                	
                   

                	 	 	 
	 	
                  SRX

                	
                   

                	 	 	 
	 	
                  Canyon

                	
                   

                	 	 	 
	 	
                  Colorado

                	
                   

                	 	 	 
	 	
                  Saturn
                    VUE

                	
                   

                	 	 	 
	 	
                  Express

                	
                   

                	 	 	 
	 	
                  Savana

                	
                   

                	 	 	 
	 	
                  Silverado

                	
                   

                	 	 	 
	 	
                  Sierra

                	
                   

                	 	 	 
	 	
                  Silverado
                    900

                	
                   

                	 	 	 
	 	
                  Sierra
                    900

                	
                   

                	 	 	 
	 	
                  Tahoe
                    

                	
                   

                	 	 	 
	 	
                  Yukon

                	
                   

                	 	 	 
	 	
                  Suburban

                	
                   

                	 	 	 
	 	
                  Yukon
                    XL

                	
                   

                	 	 	 
	 	
                  Escalade

                	
                   

                	 	 	 
	 	
                  Rendezvous

                	
                   

                	 	 	 
	 	
                  Torrent

                	
                   

                	 	 	 
	 	
                  Equinox

                	
                   

                	 	
                  [REDACTED]

                	 

        

      

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      VOLUME/INCENTIVE
        DETAIL

      Attachment
        5

    

    
       

      VX7                                    ATTACHMENT
        5

        
          	 	
                  BRANDS

                	 	
                  $
                    P/U 

                	 	
                  EXTENDED
                    INCENTIVE

                	 
	 	
                  AVEO
                    

                	
                  $

                	
                   [REDACTED]

                	
                  $

                	
                   [REDACTED]

                	 
	 	
                  COBALT

                	
                  $

                	 	
                  $

                	 	 
	 	
                  HHR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  VIBE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ION

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G5

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G6
                    NON-CONVERTIBLE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  G6
                    CONVERTIBLE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    SM / COMPACT 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  MALIBU

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  MALIBU
                    MAXX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  AURA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  LACROSSE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  GRAND
                    PRIX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  MONTE
                    CARLO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  IMPALA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  GTO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    MIDSIZE 

                	
                  $

                	
                  [REDACTED] 

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  LUCERNE

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    FULLSIZE 

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  DTS

                	
                  $

                	
                  [REDACTED] 

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  STS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CTS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  XLR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-2X

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-7X

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-3

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAAB
                    9-5

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    LUXURY 

                	
                  $

                	
                  [REDACTED] 

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  EQUINOX

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  VUE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  H2

                	
                  $

                	 	
                  $

                	 	 
	 	
                  H3

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TRAILBLAZER

                	
                  $

                	 	
                  $

                	 	 
	 	
                  RAINIER

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SSR

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ENVOY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SRX

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TAHOE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ESCALADE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  YUKON

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SUBURBAN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  YUKON
                    XL

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    UTILITY 

                	
                  $

                	
                  [REDACTED] 

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  SIERRA
                    900

                	
                  $

                	
                  [REDACTED]

                	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  SILVERADO
                    900

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CANYON

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SILVERADO
                    800 (CLASSIC)

                	
                  $

                	 	
                  $

                	 	 
	 	
                  COLORADO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  AVALANCHE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SIERRA
                    800 (CLASSIC)

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    PICKUP 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  SOLSTICE

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  SKY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  CORVETTE

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    SPORT 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  RENDEZVOUS

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED]

                	 
	 	
                  TORRENT

                	
                  $

                	 	
                  $

                	 	 
	 	
                  ACADIA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OUTLOOK

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  OPEN

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    CROSS OVER 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  UPLANDER

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                  EXPRESS

                	
                  $

                	 	
                  $

                	 	 
	 	
                  EXPRESS
                    CARGO

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TERRAZA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  SAVANA

                	
                  $

                	 	
                  $

                	 	 
	 	
                  RELAY

                	
                  $

                	 	
                  $

                	 	 
	 	
                  TOTAL
                    VAN 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 
	 	
                   

                	 	 	 	 	 
	 	
                  GRAND
                    TOTAL 

                	
                  $

                	[REDACTED] 	
                  $

                	
                  [REDACTED] 

                	 

        

      

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      VOLUME/INCENTIVE
        DETAIL

      Attachment
        5

    

    
       

      
         

      

      VX7           
        AVIS BUDGET - 0300

    

    
      
        	
                BRANDS

              	
                INITIAL
                  CONTRACT

              	
                Jul-

                06

              	
                Aug-06

              	
                Sep-

                06

              	
                Oct-

                06

              	
                Nov

                06

              	
                Dec-

                06

              	
                Jan-

                07

              	
                Feb-

                07

              	
                Mar-

                07

              	
                Apr-

                07

              	
                May-

                07

              	
                Jun-07

              	
                RECON

              	
                TOTAL
                  REVISION

              	
                REVISED
                  CONTRACT

              	
                REVISED
                  VS INITIAL

              
	
                AVEO

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                COBALT

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                HHR

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                VIBE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                ION

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                G5

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                G6
                  NON-CONVERTIBLE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                G6
                  CONVERTIBLE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  SM / COMPACT 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                MALIBU

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                MALIBU
                  MAXX

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                AURA

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                LACROSSE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                GRAND
                  PRIX

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                MONTE
                  CARLO

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                IMPALA

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                GTO

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  MIDSIZE 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                LUCERNE

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  FULLSIZE 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                DTS

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                STS

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                CTS

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                XLR

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SAAB
                  9-2X

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SAAB
                  9-7X

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SAAB
                  9-3

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SAAB
                  9-5

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  LUXURY 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                EQUINOX

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                VUE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                H2

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                H3

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TRAILBLAZER

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                RAINIER

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SSR

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                ENVOY

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SRX

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TAHOE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                ESCALADE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                YUKON

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SUBURBAN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                YUKON
                  XL

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  UTILITY 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SIERRA
                  900

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                SILVERADO
                  900

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                CANYON

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SILVERADO
                  800 (CLASSIC)

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                COLORADO

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                AVALANCHE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SIERRA
                  800 (CLASSIC)

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  PICKUP 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SOLSTICE

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                SKY

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                CORVETTE

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  SPORT 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                RENDEZVOUS

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                TORRENT

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                ACADIA

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OUTLOOK

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                OPEN

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  CROSS OVER 

              	
                 

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                UPLANDER

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              
	
                EXPRESS

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                EXPRESS
                  CARGO

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TERRAZA

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                SAVANA

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                RELAY

              	 	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                 

              	
                 

              
	
                TOTAL
                  VAN 

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              	
                 

              
	
                 

              	 	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	 	
                 

              
	
                GRAND
                  TOTAL 

              	
                [REDACTED]
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                -
                  

              	
                [REDACTED]
                  

              	
                 

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              
	
                __________________________________________

              	
                 

              	
                 

              	
                Date:___________________________

              	
                 

              	
                 

              	
                 

              	
                 

              	
                __________________________________________

              
	
                Acknowledged
                  and Agreed

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                General
                  Motors Approved

              	
                 

              

      

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
      
        VOLUME/INCENTIVE
          DETAIL

        Attachment
          5

         

        VX7           
          AVIS BUDGET - 0300

      

    

    
      
        
          
            	
                    BRANDS

                  	
                    INITIAL
                      CONTRACT

                  	
                    Jul-

                    06

                  	
                    Aug-

                    06

                  	
                    Sep-

                    06

                  	
                    Oct-

                    06

                  	
                    Nov-

                    06

                  	
                    Dec-

                    06

                  	
                    Jan-

                    07

                  	
                    Feb-

                    07

                  	
                    Mar-07

                  	
                    Apr-07

                  	
                    May-07

                  	
                    Jun-07

                  	
                    RECON

                  	
                    TOTAL
                      REVISION

                  	
                    REVISED
                      CONTRACT

                  	
                    REVISED
                      VS INITIAL

                  	 	
                    $
                      P/U 

                  	 	
                    EXTENDED
                      INCENTIVE

                  
	
                    AVEO

                  	
                    [REDACTED]

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    [REDACTED]
                      

                  	
                    -
                      

                  	
                     $

                  	 	
                     $

                  	 
	
                    COBALT

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    HHR

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    VIBE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    ION

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    G5

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    G6
                      NON-CONVERTIBLE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    G6
                      CONVERTIBLE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      SM / COMPACT 

                  	
                     [REDACTED]

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                     [REDACTED]

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    MALIBU

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    MALIBU
                      MAXX

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    AURA

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	 	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    LACROSSE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    GRAND
                      PRIX

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    MONTE
                      CARLO

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    IMPALA

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    GTO

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      MIDSIZE 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    LUCERNE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      FULLSIZE 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    DTS

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    STS

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    CTS

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    XLR

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SAAB
                      9-2X

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SAAB
                      9-7X

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SAAB
                      9-3

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SAAB
                      9-5

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      LUXURY 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    EQUINOX

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    VUE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    H2

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    H3

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TRAILBLAZER

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    RAINIER

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SSR

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    ENVOY

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SRX

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TAHOE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    ESCALADE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    YUKON

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SUBURBAN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    YUKON
                      XL

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      UTILITY 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SIERRA
                      900

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SILVERADO
                      900

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    CANYON

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SILVERADO
                      800 (CLASSIC)

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    COLORADO

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    AVALANCHE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                       

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SIERRA
                      800 (CLASSIC)

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      PICKUP 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SOLSTICE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SKY

                  	
                    [REDACTED]

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    [REDACTED]

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    CORVETTE

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      SPORT 

                  	
                     [REDACTED]

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                     [REDACTED]

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    RENDEZVOUS

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TORRENT

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    ACADIA

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OUTLOOK

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    OPEN

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      CROSS OVER 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    UPLANDER

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    EXPRESS

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    EXPRESS
                      CARGO

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TERRAZA

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    SAVANA

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    RELAY

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                    TOTAL
                      VAN 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                    $

                  	 	
                    $

                  	 
	
                    GRAND
                      TOTAL 

                  	
                     [REDACTED] 

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                    -
                      

                  	
                     [REDACTED] 

                  	
                    -
                      

                  	
                    $

                  	 	
                    $

                  	 
	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	 	 	 
	
                    __________________________________________

                  	
                    Date:___________________________

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                    __________________________________________

                  	 
	
                    Acknowledged
                      and Agreed

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                    General
                      Motors Approved

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	 	 

          

        

      

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

     

     

    Attachment
      6

    GENERAL
      MOTORS CORPORATION

    2007
      MY NATIONAL FLEET RISK PURCHASE PROGRAM (VX7)

    

    

    1.
      PROGRAM NUMBER/PROGRAM NAME/TEMPLATE TYPE:

     ------------------------------------------

    PROGRAM
      NUMBER: 07-01

    PROGRAM
      NAME: 2007
      MY NATIONAL FLEET PURCHASE PROGRAM (VX7)

    

    TEMPLATE
      TYPE: N/A (THIS MESSAGE CONTAINS ALL GUIDELINES)

    

    2.
      PROGRAM DESCRIPTION:

    --------------------

     THIS
      PROGRAM MAKES AVAILABLE TO GENERAL MOTORS DEALERS AND

    QUALIFIED
      LONG-TERM DAILY RENTAL FLEET CUSTOMERS, ALLOWANCES ON

    SELECT
      2007 MODEL YEAR GENERAL MOTORS VEHICLES SOLD AND DELIVERED TO QUALIFIED
      LONG-TERM DAILY RENTAL CUSTOMERS/USERS. 

     

    A
      QUALIFIED LONG-TERM
      DAILY RENTAL FLEET
      CUSTOMER/USER IS DEFINED AS ANY COMPANY THAT PURCHASES AND REGISTERS OR LEASES
      FIVE (5) OR MORE NEW CARS AND/OR TRUCKS FOR USE IN ITS OPERATIONS DURING THE
      CURRENT OR PRECEDING MODEL OR CALENDAR YEAR OR PRECEDING TWELVE (12)MONTH PERIOD
      OR THAT OWNS OR LEASES FIFTEEN (15) OR MORE CARS AND/OR TRUCKS FOR USE IN ITS
      OPERATIONS.

    

    A
      QUALIFIED LONG-TERM DAILY RENTAL FLEET CUSTOMER/USER MUST HAVE A GENERAL MOTORS
      FLEET ACCOUNT NUMBER (GM FAN) TO BE ELIGIBLE FOR ANY GENERAL MOTORS FLEET
      INCENTIVE.

    

    THE
      QUALIFIED LONG-TERM
      DAILY RENTAL FLEET USER MUST BE THE CUSTOMER WHO PURCHASES THE VEHICLE DIRECTLY
      FROM THE GENERAL MOTORS DEALER AND WHO MEETS THE 6 MONTH IN-SERVICE
      REQUIREMENT.

    

     

    3.
      PROGRAM START DATE/PROGRAM END DATE/IN SERVICE PERIOD:

    -----------------------------------------------------

    PROGRAM
      START DATE: OPENING OF 2007 MY ORDERING SYSTEM

    

    PROGRAM
      END DATES:

    WHEN
      DEALERS ARE NOTIFIED THAT 2007 MODEL YEAR FLEET
      ORDERS ARE NO LONGER BEING ACCEPTED BY GENERAL MOTORS.

     

    

    IN-SERVICE
      PERIOD: MINIMUM SIX (6) MONTHS. IF, HOWEVER, A 

    VEHICLE
      HAS BEEN DAMAGED BEYOND REPAIR, I.E., FIRE, FRAME, OR 

    WATER
      DAMAGE, ETC., AND DOCUMENTATION IS AVAILABLE TO SUPPORT 

    THE
      CONDITION, THIS PROVISION WILL BE WAIVED.

    

    4.
      ELIGIBLE MODELS/ALLOWANCES /REQUIRED OPTIONS/ORDER
      CRITERIA/

    OTHER
      REQUIREMENTS/CHARGEBACK CRITERIA:

    --------------------------------------------------------------

    ELIGIBLE
      MODELS/ALLOWANCES:

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    -
      ORDERED
      UNITS -  UNITS
      ORDERED WITH OPTION VX7 RECEIVE ORDER

    DATE
      PRICE PROTECTION (PRP) AND AN INVOICE CREDIT OF $ PER UNIT LISTED
      BELOW.

    

          $
      PER
      UNIT

    ALL
      GM
      MODELS (INCLUDING SATURN) $0.00

    ALL
      SAAB
      MODELS & HUMMER 1 ARE EXCLUDED FROM THIS PROGRAM

     

     ANY
      GM
      MODEL NOT SPECIFICALLY LISTED ABOVE IS NOT ELIGIBLE FOR THIS INCENTIVE
      (VX7)

     

    

    

    

    ORDER
      CRITERIA:

    -
      ORDERED
      UNITS - OPTION VX7 

    -
      ORDER
      TYPE: 

    FDR
      FLEET
      DAILY RENTAL

     

    

    -
      VEHICLES PURCHASED UNDER THE 2007 MODEL YEAR NATIONAL FLEET PURCHASE PROGRAM
      MUST BE ORDERED WITH VX7 AND APPROPRIATE CUSTOMER IDENTIFIER AS STATED IN THE
      CONTRACTUAL AGREEMENT AND WILL NOT BE ELIGIBLE FOR RETAIL SALE
      INCENTIVES.

    

    -
      VEHICLES
      ORDERED UNDER THE NON-REPURCHASE - LONG-TERM DAILY RENTAL PROGRAM (VX7) ARE
      NOT
      ELIGIBLE FOR THE RETAIL ALTERNATIVE PROGRAM.

    

    -
      THE
      NATIONAL FLEET PURCHASE PROGRAM FOR NON-REPURCHASE LONG-TERM DAILY RENTAL
      CUSTOMERS INCENTIVE AMOUNTS ARE AVAILABLE EXCLUSIVELY TO THE ULTIMATE DAILY
      RENTAL FLEET CUSTOMER.

    

    

    CHARGEBACK
      CRITERIA: ALL MONEYS PAID THAT DO NOT MEET THE

    PROGRAM
      REQUIREMENTS WILL BE CHARGED BACK.

    

    

    GENERAL
      MOTORS RESERVES THE RIGHT TO AUDIT DEALER RECORDS

    AND
      DISQUALIFY ANY SALES ALLOWANCE IN THE EVENT SUCH SALES

    DO
      NOT
      MEET THE PROGRAM GUIDELINES. ALL MONEYS IMPROPERLY

    PAID
      WILL
      BE CHARGED BACK TO THE DEALER.

    

    

    5.
      METHOD OF APPLICATION/FINAL DATE FOR SUBMISSION OF

    APPLICATION
      & RESOLUTION OF REJECTS:

    ---------------------------------------------------------------

    METHOD
      OF
      APPLICATION:

    -
      ORDERED
      UNITS - ORDER OPTION VX7

     

    

    FINAL
      DATE FOR SUBMISSION OF APPLICATION/RESOLUTION OF

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    REJECTS:

    -
      ORDERED
      UNITS - DECEMBER 31, 2007

     

    

    6.
      INCENTIVE CODE/METHOD OF PAYMENT:

    --------------------------------

    INCENTIVE
      CODE: 

    -
      ORDERED
      UNITS - VX7

     

    

    METHOD
      OF
      PAYMENT:

    -
      ORDERED
      UNITS - INVOICE CREDIT

     

    

    7.
      DELIVERY REPORTING/COMPATIBLE INCENTIVE & ALLOWANCE
      PROGRAMS

    FOR
      FLEET CUSTOMERS (FAN HOLDERS):

    ----------------------------------------------------------

    DELIVERY
      REPORTING: VEHICLES DELIVERED TO FLEET CUSTOMERS MUST

    BE
      REPORTED WITH ONE OF THE FOLLOWING DELIVERY TYPES UNDER THIS

    PROGRAM.
      ALL DELIVERIES TO CUSTOMERS WITH A VALID GM FLEET

    ACCOUNT
      NUMBER MUST BE REPORTED AS FLEET DELIVERIES, REGARDLESS

    OF
      ORDER
      TYPE.

    

    DEL
      TYPE
      DESCRIPTION

    FLEET
      SALE:

    020
      DAILY
      RENTAL 

     

    

    COMPATIBLE
      INCENTIVE & ALLOWANCE PROGRAMS: VEHICLES DELIVERED TO

    FLEET
      CUSTOMERS WITH THE ABOVE DELIVERY TYPE MAY BE ELIGIBLE

    FOR
      THE
      FOLLOWING OTHER INCENTIVE PROGRAMS. BECAUSE NOT ALL

    THE
      PROGRAMS LISTED BELOW MAY BE COMBINED WITH EACH OTHER,

    CONSULT
      THE GUIDELINES OF EACH PROGRAM IN QUESTION. PROGRAMS

    NOT
      LISTED BELOW WOULD NOT BE COMPATIBLE UNLESS THE SPECIFIC

    GUIDELINES
      INDICATE OTHERWISE.

    

    

    FLEET
      CUSTOMERS (FAN HOLDERS)

    

    GENERAL

    GM
      MOBILITY (MOB/MOC/R8L)
      YES

    SALESPERSON
      / SALES MGR. INCENTIVES NO

    CASH
      DIRECT MAILS/PRIVATE OFFERS/GENERAL 

    COUPONS/CERTIFICATES/NON-CASH
      VENDOR PROGRAMS NO

     GM
      BUSINESS CARD (UDB) NO

    CONSUMER
      CASH NO

    DEALER
      CASH NO

     BONUS
      CASH NO

    PRICING

    PRICE
      PROTECTION/BONA FIDE SOLD ORDER (PPT W/VX7) NO

    PRICE
      PROTECTION/NET INVOICE (PRP) YES

    ORDER/DELIVERY

    FLEET
      ORDERING & ASSISTANCE (VQ1/VQ2/VQ3) YES

    INTRANSIT
      INTEREST CREDIT (C4C) YES

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    RENTAL

    REPURCHASE
      (VN9) NO

    FLAT-RATE
      REPURCHASE (YT1 THROUGH YT9) NO

    RISK
      (VX7) XXX

    GM
      DEALER
      RENT-A-CAR (FKR/FKL)
      NO

    GOVERNMENT

    PSA/PURA/BID
      ASSISTANCE/CE (R6D/PBP/PBS)
      NO

    FLEET/COMMERCIAL

    NATIONAL
      FLEET PURCHASE PROGRAM (FVX/FPP)
      NO

    RETAIL
      ALTERNATIVE (CNC/CNE/CSE/CSR/CWE) NO

     SMALL
      FLEET APR ALTERNATIVE (XMC) NO

    GM'S
      BUSINESS CUSTOMERS CHOICE NO

    TRUCK
      STOCKING (TSI) NO

    MOTOR
      HOME INCENTIVE (R7Y) NO

    SCHOOL
      BUS/SHUTTLE BUS/AMBULANCE INCENTIVE (R6H) NO

    RECREATIONAL
      VEHICLE INCENTIVE (R6J) NO

    DEMO
      -
      LIGHT DUTY DEALER (DEM/DEE) NO

    DEMO
      -
      LIGHT DUTY SVM (DES) NO

     SIERRA
      FLEET PEG (R7F/FLS) NO

    FLEET
      PREFERRED EQUIPMENT GROUPS NO

    COMPETITIVE
      ASSISTANCE PROGRAMS (CAP) NO

    

     

    8.
      DELIVERY REPORTING/COMPATIBLE INCENTIVE/ALLOWANCE PROGRAMS

    NON-FLEET
      COMMERCIAL CUSTOMERS (NON-FAN HOLDERS):

    ----------------------------------------------------------

    

    NOT
      APPLICABLE - CUSTOMER MUST BE FAN HOLDER AND USE A FLEET

    ORDER
      TYPE.

    

    9.
      OTHER PROGRAM GUIDELINES:

    -------------------------

    

    A.
      DELIVERY DATA IS NOT REQUIRED TO RECEIVE THE INVOICE CREDIT

    BUT
      DELIVERIES SHOULD BE REPORTED AS SOON AS THE DELIVERY IS MADE.

    

    B.
      DELIVERIES THROUGH SECONDARY DEALER CODES ARE ELIGIBLE.

    

    C.
      CUSTOMER REBATE AMOUNT MUST BE SPELLED OUT ON BUYER’S

    ORDER,
      AND CUSTOMER INCENTIVE ACKNOWLEDGMENT AND/OR ASSIGNMENT FORM IS NOT
      REQUIRED.

    

    D.
      GENERAL MOTORS UPFITTED VEHICLES (EXCEPT RV’S) ARE

    ELIGIBLE
      PROVIDED THE VEHICLE WAS PURCHASED DIRECTLY FROM

    GM
      OR
      FROM ANOTHER DEALER IN THE UNITED STATES AND

    PROVIDED
      TITLE TO THE VEHICLE WAS RETAINED BY THE

    FRANCHISED
      DEALER THROUGH THE POINT OF SALE AND DELIVERY

    TO
      THE
      ULTIMATE FLEET CUSTOMER. RECREATIONAL VEHICLES ARE

    EXCLUDED.

    

    E.
      THIS
      INCENTIVE PROGRAM IS AVAILABLE EXCLUSIVELY TO THE 

    ULTIMATE
      DAILY RENTAL FLEET CUSTOMER.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    F.
      A
      QUALIFIED FLEET CUSTOMER/USER IS DEFINED AS ANY COMPANY 

    THAT
      PURCHASES AND REGISTERS OR LEASES FIVE (5) OR MORE

    NEW
      CARS
      AND/PRECEDING MODEL OR CALENDAR YEAR OR PRECEDING

    TWELVE
      12) MONTH PERIOD OR THAT OWNS OR LEASES FIFTEEN

    (15)
      OR
      MORE CARS AND/OR TRUCKS.

    

    G.
      THE
      QUALIFIED DAILY RENTAL FLEET USER MUST ALWAYS BE THE 

    CUSTOMER
      WHO PURCHASES THE VEHICLE DIRECTLY FROM THE GENERAL 

    MOTORS
      DEALER AND WHO MEETS THE IN-SERVICE REQUIREMENT.

     

    H.
      CANCELED FLEET ORDERS MUST BE CREDITED AND REBILLED AS

    RETAIL
      STOCK. YOU SHOULD CONTACT YOUR REGIONAL OFFICE.

    

    10.
      GENERAL POLICY GUIDELINES:

    -------------------------

    A.
      ALL
      GENERAL MOTORS GENERAL GUIDELINES AND DEFINITION OF

    TERMS
      RELATIVE TO INCENTIVE PROGRAMS THAT WERE SUPPLIED TO

    YOUR
      DEALERSHIP APPLY TO THIS PROGRAM. REFER TO GM DEALERS

    SALES
      ALLOWANCE AND INCENTIVE MANUAL.

    

    B.
      GENERAL MOTORS RESERVES THE RIGHT TO CANCEL, AMEND, REVISE 

    OR
      REVOKE
      ANY PROGRAM AT ANY TIME BASED ON ITS SOLE 

    BUSINESS
      JUDGMENT. FINAL DECISIONS IN ALL MATTERS 

    RELATIVE
      TO THE INTERPRETATION OF ANY RULE OR PHASE OF 

    THIS
      ACTIVITY RESTS SOLELY WITH GENERAL MOTORS. 

    

    C.
      GENERAL MOTORS RESERVES THE RIGHT TO AUDIT DEALER RECORDS 

    AND
      DISQUALIFY ANY SALES ALLOWANCE IN THE EVENT SUCH SALES 

    DO
      NOT
      MEET THE PROGRAM GUIDELINES. ALL MONEYS IMPROPERLY 

    PAID
      WILL
      BE CHARGED BACK TO THE DEALER.

    

    D.
      DEALERS MUST RETAIN RECORDS TO SUBSTANTIATE THEIR CLAIM TO 

    AN
      INCENTIVE OR ALLOWANCE. ALL APPLICATIONS WHICH 

    INDICATE
      ASSIGNMENT BY THE CUSTOMER TO THE DEALER OF A 

    CUSTOMER
      INCENTIVE MUST BE SUPPORTED BY APPROPRIATE 

    DOCUMENTATION
      RETAINED IN THE DEAL FILE. IF DEALER 

    RECORDS
      DO NOT SUPPORT THE CLAIM, THE DEALER WILL BE 

    CHARGED
      THE AMOUNT OF ALLOWANCE OR INCENTIVE PAID.

    

    E.
      ANY
      DISPUTES BETWEEN THE CUSTOMER AND THE DEALER ARISING 

    FROM
      MISUNDERSTANDING OR AMBIGUITIES REGARDING THIS 

    PROGRAM
      WHICH CANNOT BE RESOLVED BY REFERRING TO 

    APPROPRIATE
      CUSTOMER INCENTIVE ACKNOWLEDGMENT AND/OR 

    ASSIGNMENT
      FORM (SAMPLE COPY DISPLAYED IN GM DEALER SALES 

    ALLOWANCE
      AND INCENTIVE MANUAL), WILL BE SETTLED IN FAVOR 

    OF
      THE
      CUSTOMER, IN SUCH INSTANCES, THE DEALER WILL INCUR 

    A
      DEBIT
      IF THE PAYMENT HAS ALREADY BEEN CREDITED.

    

    THIS
      IS
      THE END OF FLEET & COMMERCIAL PROGRAM 07-01.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Attachment
      7

     

     

    

      2007MY
        GM Rental Advertising Guidelines

      

      	1.  	
              In
                all mediums, the phrase “X Rental Company features GM vehicles” must be
                stated in copy size type, and not in disclaimer size type. In print
                this
                translates to no smaller than 10 pt. type, and for TV the copy should
                be
                larger than the network standard for legal disclaimers of 22 scan
                lines.
                

            

      

      	2.  	
              Please
                note that the phrase must use the word “vehicles” and not
                “cars.”

            

      

      	3.  	
              In
                TV, the phrase must be on the screen long enough for an average person
                to
                notice and read it. For reference purposes, the network standard
                for the
                length of time a legal disclaimer must be on the screen is three
                seconds
                for the first line and one second for the following lines. Obviously,
                we
                would want to be on longer than this if
                possible.

            

      

      	4.  	
              A
                full shot of the vehicle must be displayed, particularly in TV ads.
                We
                prefer to have our vehicles identifiable by sight as well as in
                print.

            

      

      	5.  	
              All
                vehicles must be identified by manufacturer and nameplate, i.e. Chevrolet
                Blazer, in print next to the vehicle, as well as in any accompanying
                copy.

            

      

      	6.  	
              In
                TV spots, the same identification must be in print or given
                verbally.

            

      

      	7.  	
              All
                vehicles used in rental car spots must be stock vehicles, with no
                alterations.

            

      

      	8.  	
              Any
                person in a moving vehicle must be shown with their seatbelt on.
                This
                point is non-negotiable with our Legal
                Staff.

            

      

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

      Attachment
        1C &
3C

    

     

    

      GENERAL
        MOTORS 2006CY 

      DAILY
        RENTAL GUARANTEED RESIDUAL PROGRAM

      

      PROCESS,
        PROCEDURES, AND RETURN STANDARDS

      Effective
        for all vehicles inspected and accepted on or after DATE
        TBD (Tentative Nov. 14, 2006)

      Table
        of
        Contents     Page

      
        	
                I.
                  General Condition Standards

              	 	 	 
	 	
                A.
                  Vehicle Return Requirements

              	 	
                2

              
	 	
                B.
                  Title, Registration, Tax, VIN Plate

              	 	
                2

              
	 	
                C.
                  Collision Damage

              	 	
                3

              
	 	
                D.
                  Damage Allowance, Existing Damage, Previous Repairs

              	 	
                3

              
	 	
                E.
                  Vehicle Maintenance

              	 	
                4

              
	
                II.
                  Normal Wear and Tear

              	 	 	 
	 	
                A.
                  Sheet Metal and Paint

              	 	
                5

              
	 	
                B.
                  Convertible Tops

              	 	
                5

              
	 	
                C.
                  Front and Rear Bumpers

              	 	
                5

              
	 	
                D.
                  Wheels, Covers and Aluminum Wheels

              	 	
                5

              
	 	
                E.
                  Wheels, Covers and Aluminum Wheels

              	 	
                6

              
	 	
                F.
                  Vehicle Lighting

              	 	
                6

              
	 	
                G.
                  Interior Soft Trim and Carpets

              	 	
                6

              
	 	
                H.
                  Carpet Retainers / Sill Plates

              	 	
                6

              
	 	
                I.
                  Headers / Leading Edge of Hood

              	 	
                7

              
	 	
                J.
                  Vehicle Glass

              	 	
                7

              
	
                III.
                  Missing Equipment Program (MET)

              	 	 	
                8

              
	
                V.
                  Operating Conditions

              	 	 	
                8

              
	
                VI.
                  Vehicle Integrity

              	 	 	
                8

              
	
                VII.
                  Litigation Liability

              	 	 	
                9

              
	
                VIII.
                  General Turn-In Procedures

              	 	 	 
	 	
                A.
                  Forecast

              	 	
                9

              
	 	
                B.
                  Delivery

              	 	
                10

              
	 	
                C.
                  Inspection

              	 	
                10

              
	 	
                D.
                  Reviews

              	 	
                10

              
	 	
                E.
                  Acceptance

              	 	
                10

              
	 	
                F.
                  Payments

              	 	
                11

              
	 	
                G.
                  Rejects

              	 	
                11

              
	 	
                H.
                  Other

              	 	
                11

              
	
                IX.
                  Permanently Rejected Vehicles

              	 	 	
                12

              
	
                X.
                  Miscellaneous Items

              	 	 	
                12

              
	 	
                A.
                  General
                  Return Facility Guideline

              	 	 
	 	
                B.
                  Holidays

              	 	 
	 	
                C.
                  Contact Information

              	 	 
	
                XI.
                  Exhibits 

              	 	 	 
	 	
                Exhibit
                  A:

              	
                Vehicle
                  Categories

              	
                14

              
	 	
                Exhibit
                  B:

              	
                PDR
                  Process and Limitations

              	
                15

              
	 	
                Exhibit
                  C:

              	
                MET
                  Program Price List/ Misc. MET Item

              	
                16

              
	 	
                Exhibit
                  D:

              	
                Mid
                  - Rail and Engine Cradle damage definitions

              	
                19

              
	 	
                Exhibit
                  E:

              	
                GM
                  Authorized Return Locations

              	
                20

              
	 	
                Exhibit
                  F:

              	
                GM
                  Approved 2006 Replacement Tire Tables

              	
                24

              
	 	
                Exhibit
                  G:

              	
                MET
                  Tire Program

              	
                25

              
	 	
                Exhibit
                  H:

              	
                GM
                  Windshield Glass Manufacturers

              	
                26

              
	 	
                Exhibit
                  I:

              	
                Title
                  Shipping and Handling Procedure

              	
                27

              

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      

      The
        interpretation of these Guidelines is solely the discretion of General Motors
        Corporation.

      

      The
        Daily
        Rental Guaranteed Residual Program is for the major rental accounts only
        (Vanguard, Avis, and Hertz). Under the Daily Rental Guaranteed Residual Program,
        vehicles would continue to be returned to and accepted by GM. Title will
        remain
        in the rental account's name until the vehicle is sold at auction. Title
        will be
        assigned from the rental account directly to dealer. 

      

      	I.  	
              GENERAL
                CONDITION STANDARDS

            

      

      	A.  	
              Vehicle
                Return Requirements

            

      	 ̈  	
              Vehicle
                must be returned washed and vacuumed. Vehicles with
                dirty interiors including newspapers, cups and other trash will be
                charged
                a
                $35 Dirty Interior MET
                Fee.

            

      	 ̈  	
              Vehicles
                with an exterior that is too dirty to inspect will be gate released
                to the
                rental account for washing. When the vehicle is returned and inspected
                a
                $75.00 re-inspection fee will be
                charged.

            

      	 ̈  	
              Vehicles
                must have a minimum 1⁄4 tank of gasoline with the exception of Hawaii
                vehicles, which cannot exceed a 1⁄4 tank of
                gasoline.

            

      	 ̈  	
              Emission
                labels are required to be in place and legible on all vehicles returned
                to
                General Motors. Vehicles without an emission label will be currently
                ineligible and gate released to the rental account. A $75.00 re-inspection
                fee will be charged when the vehicle is repaired and
                returned.

            

      	 ̈  	
              Vehicles
                must have two (2) sets of keys, all owner manuals, floor mats, and
                programmed keyless remotes/key fobs and all other remotes, included
                as
                original equipment.

            

      

      	B.  	
              Title,
                Registration, Tax, VIN Plate

            

      

      	 ̈  	
              A
                vehicle submitted with a COV (Certificate of Origin for a Vehicle)
                or a
                branded title, is
                not eligible for return.

            

      	 ̈  	
              All
                vehicles must have a valid and current registration. State and local
                taxes
                must be paid prior to turn-back. The Daily Rental Company must comply
                with
                State regulations pertaining to proof of payment for State and local
                taxes.

            

      	 ̈  	
              The
                vehicle’s Vehicle Identification Number Plate (VIN) must be readily and
                completely readable and properly attached to the dash panel. Any
                obstruction causing a portion of the plate to be covered is not
                acceptable. 

            

      	 ̈  	
              The
                plate must be flush and secure with the rivets intact and tight.
                

            

      	 ̈  	
              The
                plate cannot be bent, cracked or torn and the rivets cannot be damaged
                in
                any manner. 

            

      	 ̈  	
              Bent
                or loose VIN plates cannot be repaired or replaced. General Motors
                cannot
                replace a VIN plate or the rivets used to attach it to the dash panel.
                

            

      	 ̈  	
              VIN
                plates not meeting these criteria will render the vehicle permanently
                ineligible for return to General Motors.

            

      	 ̈  	
              VIN
                plates replaced by a General Motors Assembly Plant to correct a
                manufacturing error will be acceptable.

            

      	 ̈  	
              Titles
                for all turn-back vehicles for the Daily Rental Companies must
                be received
                by the SGS Title Center within three (3) business days of vehicle
                turn-back to the address shown below. The vehicle turn-back date
                is
                considered the first day. See Exhibit I for detailed title shipping
                instructions.

            

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      	 ̈  	
              The
                rental company must remove vehicles at an auction waiting for title
                more
                than 30 days. The vehicle will be Currently Ineligible and will be
                assessed a re-inspection fee if / when it is
                returned.

            

      

      	C.  	
              Collision
                Damage

            

      

      	 ̈  	
              The
                GM Disclosure Policy mandates that all prior damage and repairs must
                be
                electronically disclosed prior to turn back, excluding warranty repairs
                performed by the Rental Company or a GM Dealer.

            

      	 ̈  	
              Collision
                damage must be disclosed and be supported by repair orders, if requested
                by the inspection provider on behalf of General Motors.
                

            

      	 ̈  	
              Repair
                orders must accurately reflect all work performed and include all
                associated repair costs. 

            

      	 ̈  	
              The
                inspection provider, on General Motors behalf, will request a Repair
                Order
                when:

            

      	1.  	
              Previous
                repaired damage noted during the inspection does not agree with the
                disclosure.

            

      	2.  	
              The
                dollar amount disclosed appears too high or low based on the visual
                inspection.

            

      	3.  	
              The
                disclosed damage areas and the disclosed repair amount appear
                significantly out of line.

            

      	 ̈  	
              Requested
                repair orders must be received by the inspection provider within
                two
                business days of the request for the rental account to maintain their
                original turn in date. Requested repair
                orders not
                received by the inspection provider within seven (7) business days
                will be
                deemed currently ineligible and must be gate released and removed
                from the
                yard until the repair order is available. A $75.00 re-inspection
                fee will
                be charged when the vehicle is returned with the requested repair
                order.

            

      

      	 ̈  	
              The
                electronic disclosure must be checked in the appropriate box (Yes
                or No),
                confirming or denying previous damage. Failure to disclose previous
                damage
                at turn-in will be grounds for rejecting the vehicle (Refer
                VI, Vehicle Integrity).

            

      

      	 ̈  	
              Prior
                repairs cannot exceed $2250 for Category 1 vehicles, $2750 for Category
                2
                vehicles, $3250 for Category 3 vehicles and $4250 for Category 4
                vehicles.
                These amounts exclude costs related to vehicle glass, tires, wheels
                and
                wheel covers, and Supplemental Inflatable Restraint (SIR) system
                components including air bags and other related major SIR parts such
                as
                modules, sensors and coils. “Loss of use charges” are also excluded.
                Vehicles exceeding these maximums are not eligible for turn-in. See
                Exhibit A, Vehicle Categories.

            

      

      	D.  	
              Damage
                Allowance, Existing Damage and Previous
                Repairs

            

      

      	 ̈  	
              GM
                will absorb the cost of repairs on those vehicles returned with less
                than
                or equal to $400 existing damage. Non-chargeable and chargeable items
                will
                be listed on the AD006 (Vehicle Condition Report) with charged items
                only
                being priced and applied to the $400 damage allowance per vehicle.
                

            

      	 ̈  	
              GM
                will charge the Daily Rental Company for current damage in excess
                of the
                $400 damage allowance plus a service fee. The service fee will be
                applied
                as follows:

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      
        	
              
	
                AMOUNT
                  IN EXCESS OF $400

              	
                SERVICE
                  FEE

              
	
                $0
                  TO $99

              	
                EQUAL
                  TO AMOUNT OVER $400

              
	
                $100
                  TO $1,099

              	
                $100

              
	
                $1,100
                  TO $1,599

              	
                $200

              
	 

      

      

      	 ̈  	
              Vehicles
                with existing damage exceeding $2000 are not eligible for
                return.

            

      	 ̈  	
              For
                "Poor Prior Repairs" valued at $500 or less, GM will accept the vehicle
                and charge the estimated repair cost to the Daily Rental Company
                under the
                MET program.

            

      	 ̈  	
              For
                “Poor Prior Repairs” valued at over $500, GM will consider the vehicle
                “Currently ineligible.”

            

      	 ̈  	
              If
                a vehicle is identified as “currently ineligible” as a result of a tire
                problem, unacceptable glass, inoperable item (e.g. light or horn)
                or other
                mechanical reason, such as warranty repair, GM will allow the unit
                to be
                gate released, repaired for these reasons only, returned and re-inspected
                without the Daily Rental Company having to repair the existing chargeable
                damages, regardless of dollar amount (over or under $400). The $75
                Re-inspection Fee will apply.

            

      	 ̈  	
              If
                the return unit has had partial repairs on any chargeable damage
                that was
                identified on the unit when it was originally inspected, the entire
                vehicle must be repaired to zero dollars ($0) chargeable. The intent
                is to
                not allow partial repairs to chargeable damages facilitating the
                avoidance
                of charges by the Daily Rental Company in bringing the current damages
                below the $400 chargeable allowance.

            

      	 ̈  	
              Any
                vehicle with identified “Poor Prior Repairs,” totaling $500 or less, that
                is removed by the Daily Rental Company as a result of a tire problem,
                unacceptable glass, inoperable item (e.g. light or horn) or other
                mechanical reason, such as warranty repair, may repair the unit for
                the
                reason it was removed and return it without repairing the “Poor Prior
                Repairs” which will be charged as a MET
                item.

            

      	 ̈  	
              If
                a vehicle is removed to repair any existing damage and / or “Poor Prior
                Repairs,” all existing damage and / or “Poor Prior Repairs” must be
                repaired to GM standards prior to return. Repairs must bring the
                vehicle
                back to zero chargeable damage excluding MET items.
                

            

      	 ̈  	
              Missing
                equipment will not be included as part of the chargeable damage allowance,
                but will be charged per the Missing Equipment Program (MET, refer
                to
                Section IV). Missing equipment are small items such as owners manual,
                cigarette lighters, etc. that are easily lost and/or replaced during
                turn-back.

            

      

      	E.  	
              Vehicle
                Maintenance

            

      

      	 ̈  	
              Vehicles
                must be maintained as described in the Vehicle Owners Manual. Failure
                to
                comply will result in permanent rejection of the vehicle. The
                repair/replacement of an engine or transmission failure that is due
                to
                non-compliance of vehicle maintenance will be chargeable to the Daily
                Rental Company whether at acceptance/receipt or sale. An authorized
                representative for General Motors will conduct
                inspections.

            

      

      	II.  	
              NORMAL
                WEAR AND TEAR

            

      Listed
        below are the "normal" vehicle wear and tear conditions. All damage beyond
        normal wear and tear will be charged back to the Daily Rental
        Company.

      

      	A.  	
              SHEET
                METAL AND PAINT

            

       

      The
        following are acceptable return conditions with regard to sheet metal and
        paint:

      

      	 ̈  	
              Maximum
                of two dents per panel that are individually no larger than one (1)
                inch
                in diameter that does not break the
                paint.

            

      	 ̈  	
              The
                floor of a pick-up truck box is considered one panel and is covered
                by the
                above guideline of two dents per panel no larger than (1) inch that
                does
                not break the paint. One dent to each wheelhouse no larger than (1)
                inch,
                that does not break the paint, is acceptable. Paintless Dent Removal
                cannot be used on the floor or wheelhouse of a pick-up
                truck.

            

      	 ̈  	
              Paintless
                Dent Removal (PDR), see Exhibit B, page
                13.

            

      	 ̈  	
              Scratches
                or damages in the clear coat that do not penetrate to the color coat
                and
                can be removed during normal
                reconditioning.

            

      	 ̈  	
              Chips
                to door, hood or deck lid edges that do not reach flat
                surfaces.

            

      

      	B.  	
              CONVERTIBLE
                TOPS

            

      

      The
        following are acceptable return conditions with regard to convertible
        tops:

      

      	 ̈  	
              Stains
                that can be removed by normal
                reconditioning.

            

      	 ̈  	
              Abrasions
                that visually are not offensive.

            

      	 ̈  	
              Top
                structure must be operational and not
                damaged.

            

      

      	C.  	
              FRONT
                AND REAR BUMPERS

            

       

      The
        following are acceptable return conditions with regard to front and rear
        bumpers:

      

      	 ̈  	
              Bumpers
                will be inspected from a standing position. Scuffs, scrapes, and
                gouging
                on the underside of the bumper, observed during the undercarriage
                inspection, will not be chargeable. Cracked or broken bumpers, regardless
                of location, will remain chargeable as a
                replacement.

            

      	 ̈  	
              Maximum
                of two scratches or chips per bumper that are no longer than two
                (2)
                inches and no wider than 1⁄4 inch or, one scratch no longer than four (4)
                inches and no wider than 1⁄4 inch that
                penetrates the color coat, exposing the black bumper material, but
                not
                penetrating the black
                base
                material that
                would require filler.

            

      	 ̈  	
              Partial
                bumper repairs may be charged using the following criteria.
                

            

      	1.  	
              The
                damaged area cannot exceed 1/3 or 33% of the bumper area. The 33%
                area
                cannot be added across the bumper to equal 33%; it must be one single
                section of the bumper, either end or the center.
                

            

      	2.  	
              Partial
                bumper repairs cannot be used for vehicles utilizing paints commonly
                referred to as pearl or tri-color due to color matching
                concerns.

            

      	3.  	
              Partial
                bumper repair cannot be used for cracked or heavily damaged
                bumpers.

            

      	4.  	
              The
                partial bumper repair charge is $100.00.

            

      	5.  	
              The
                use of partial bumper repairs will be at the discretion of General
                Motors
                and its inspection providers.

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	D.  	
              TIRES

            

      

      The
        following are acceptable conditions with regard to tires:

      

      	 ̈  	
              All
                tires must have 5/32 inch or better original tread across all primary
                tread grooves without any exposed belts.

            

      	 ̈  	
              All
                tires must match by size, make and type.

            

      	 ̈  	
              Only
                GM original equipment tires or GM approved replacement tires are
                acceptable. Refer to Exhibit F, GM Approved 2004 Replacement Tire
                Table,
                page 23

            

      	 ̈  	
              When
                the replacement tire shown in “Exhibit F” is not available the first step
                should be to contact the tire manufacturer through their Customer
                Assistance phone number. This information is located in the Tire
                Warranty
                Book included with the vehicle’s warranty information. If the replacement
                tire cannot be located a replacement exhibiting the same TPC code
                as the
                original tire may be used, however, all tires must match by size,
                make and
                type.

            

      	 ̈  	
              Tires
                without a TPC rating or when another manufacturer cannot supply the
                same
                TPC rated tire, any other OE supplier shown on “Exhibit F” can be used as
                long as the tire matches the original by size, load rating and speed
                rating. The same rule as above will apply; all four tires must match
                by
                size, make and type. 

            

      	 ̈  	
              Tires
                with mushroom-type plug/s, installed from the inside out, in the
                tread
                only, are acceptable. All other plugs/ patches are not acceptable.
                General
                Motors reserves the right to charge the Daily Rental Company via
                the MET
                Tire Program for any unacceptable plugged tire found and replaced
                prior to
                the sale of the vehicle---with no right to
                review.

            

      	 ̈  	
              Exhibit
                G, page 24 MET Tire Program, provides details for tire replacement
                under
                the MET program. This program is available to Daily Rental Companies
                at
                their discretion.

            

      

      	E.  	
              WHEELS,
                COVERS AND ALUMINUM WHEELS

            

      

      The
        following are acceptable return conditions with regard to wheels, covers
        and
        aluminum wheels:

      

      	 ̈  	
              The
                face of the wheel cover or
                wheel may
                have a maximum of two (2) scratches or scuffs to the surface not
                penetrating through to the base material that are no longer than
                1 1/2
                inches and no wider then 1/4 inch. Scratches or scuffs within one
                inch of
                the outside edge of the wheel cover are acceptable, provided they
                do not,
                in total, exceed one-third (1/3) of the circumference of the
                wheel.

            

      	 ̈  	
              Gouges
                of the base material are not acceptable on any part of the
                wheel.

            

      

      	F.  	
              VEHICLE
                LIGHTING

            

      

      The
        following are acceptable return conditions with regard to vehicle
        lighting:

      

      	 ̈  	
              All
                lights/lamps must be operational. (Front, Rear, Side and
                Interior)

            

      

      G. INTERIOR
        SOFT TRIM AND CARPETS

       

      The
        following are acceptable return conditions with regard to interior soft trim
        and
        carpets:

      

      	 ̈  	
              All
                stains which can be removed by normal
                reconditioning.

            

      	 ̈  	
              Maximum
                of one (1) burn that is not larger than one-quarter (1/4) inch in
                diameter
                and not through the backing material.

            

      

      	H.  	
              CARPET
                RETAINERS/ SILL PLATES

            

       

      The
        following are acceptable return conditions with regard to carpet retainers/sill
        plates:

      

      	 ̈  	
              Carpet
                retainers and sill plates must be in place.

            

      	 ̈  	
              Minor
                surface scuffs/scratches are acceptable.

            

      

      	I.  	
              HEADER/LEADING
                EDGE OF HOOD

            

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      The
        following are acceptable return conditions with regard to header/leading
        edge of
        hood: 

      

      	 ̈  	
              Maximum
                of three chips each not larger than one-eighth (1/8) inch in
                diameter.

            

      

      	J.  	
              VEHICLE
                GLASS

            

      

      The
        following are acceptable return conditions with regard to windshields, rear
        windows or side windows:

      

      	 ̈  	
              Glass
                other than windshields will require replacement if there is any damage.
                No
                chips or scratches are allowed.

            

      	 ̈  	
              Minor
                vertical
                scratches in the side glass will be acceptable and noted in the
                non-chargeable portion of the AD006. 

            

      	 ̈  	
              Obvious
                damage or abuse such as horizontal
                scratching from ice scrapers or car washes etc. would be charged
                as a
                replacement. 

            

      	 ̈  	
              Any
                damage or scratching of stationary side glass is a chargeable
                condition.

            

      	 ̈  	
              General
                Motors vehicles are equipped with windshield glass supplied by the
                OEM’s
                listed in Exhibit H, GM Windshield Glass
                Manufacturers.

            

       

      Windshields

      	 ̈  	
              Pinpoint
                chips are non-chargeable providing the glass is not sandblasted.
                Sandblasted glass is defined as a series of pinpoint chips in a
                concentrated area.

            

      	 ̈  	
              Four
                (4) chips (without legs) from one-eighth (1/8) inch not to exceed
                three
                sixteenth (3/16) inch are non-chargeable providing no more than two
                (2)
                chips reside in the driver's side wiper
                area.

            

      	 ̈  	
              Chips
                (without legs) one-eighth (1/8) inch or less located within one (1)
                inch
                inbound from the "Frit Band" (windshield outer perimeter darkened
                area)
                are non-chargeable.

            

      	 ̈  	
              General
                Motors will not accept glass that has been repaired. Only OEM glass
                is
                acceptable (see Exhibit H: GM Windshield Glass
                Manufacturers.)

            

      	 ̈  	
              Damaged
                windshields may be replaced under the terms of the MET
                program.

            

      

      General
        Motors reserves the right to charge the Daily Rental Company $210 for each
        windshield replaced at auction prior to sale of vehicle where previously
        written
        as “chipped no charge”, with no right to review. GM will monitor windshield
        replacements at each site and analyze any significant deviations from the
        norm.

      

      	III.  	
              ORIGINAL
                EQUIPMENT, AFTERMARKET EQUIMENT AND
                ACCESSORIES

            

      

      All
        original equipment and accessories noted on the factory invoice must be on
        the
        vehicle. All missing parts (such as body side moldings, wheel covers, trunk
        mat,
        spare tire, correct rear van seats, jack and wheel wrench) are to be replaced
        prior to return and must be original GM equipment. All OEM options and
        accessories must be installed on the vehicle prior to being placed in daily
        rental service.

      

      	 ̈  	
              AFTER
                - MARKET EQUIPMENT

            

      

      Any
        after-market parts or accessories i.e. GPS / navigational systems, pick-up
        truck
        bed liners, running boards, etc. installed by the rental account or their
        agent
        must have prior  GM
        Remarketing approval prior to installation. Drilling, electrical modifications,
        etc. without prior approval will render the vehicle permanently ineligible.
        Pick-up
        truck bed liners, running boards, etc. must be left on the vehicle at turn
        back.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	IV.  	
              MISSING
                EQUIPMENT PROGRAM (MET)

            

      

      	 ̈  	
              The
                Missing Equipment Program (MET) is designed to expedite turn-in by
                allowing the Daily Rental Company to pay for select missing parts
                or
                accessories as determined by GM Remarketing (refer to Exhibit C),
                as
                opposed to the Daily Rental Company replacing the part or accessories.
                MET
                items will be deducted from the repurchase payment to the Daily Rental
                Company. MET items will not be included as part of the $400 chargeable
                damage allowance (Refer
                to Section I-D page 3, Damage Allowance).

            

      	 ̈  	
              Vehicles
                turned in with one or all the mats missing, on vehicles so equipped,
                will
                be assessed a MET charge for missing mats or for the set if none
                are
                returned with the vehicle. All 2005 and subsequent model year vehicles
                will be assessed the appropriate MET fee for any missing floor mats.
                Floor
                mats are required per the “Minimum Equipment Requirements” for all 2005
                model year vehicles. (Refer to Exhibit C).

            

      	 ̈  	
              Keyless
                remote / key fobs must be operational. Key fobs that are not functional
                will be charged $30.00 for re-programming. Missing key fobs will
                be
                assessed the programming fee, which is included in the Met fee for
                the
                missing key fob (s) (refer to Exhibit C).

            

      

      	V.  	
              OPERATING
                CONDITIONS

            

      

      	 ̈  	
              A
                vehicle must comply with all aspects of the applicable program guidelines
                or it is
                not eligible for return.

            

      	 ̈  	
              Each
                vehicle and all accessories shall be in sound mechanical and electrical
                operating condition. Repair of these items must be made prior to
                turn-in
                or the vehicle will be rejected.

            

      	 ̈  	
              Any
                vehicle equipped with supplemental inflatable restraints (S.I.R.)
                including driver, passenger or side airbags that have been deployed,
                missing or otherwise disconnected, must be replaced with the approved
                OEM
                replacement and must meet GM standards prior to
                turn-in.

            

      

      	VI.  	
              VEHICLE
                INTEGRITY

            

      

      Damage
        which compromises the integrity of the vehicle, repaired or not, will be
        grounds
        for rejecting the vehicle as a permanent reject. Minor damage that has not
        been
        repaired (i.e., small dents, scrapes, or scratches) which does not compromise
        the structural integrity of the vehicle is acceptable on the following
        components:

      

      	Ø  	
              Floor
                Panel / Trunk Floor

            

      	Ø  	
              Mid
                - Rail Assembly (See Exhibit D, part 1)

            

      	Ø  	
              Outer
                Rocker Panels / Pinch Welds

            

      	Ø  	
              Frame
                Rails / Rail Extensions

            

      	Ø  	
              Sub-Frame
                Assemblies (Engine Cradles) (See Exhibit D, part
                2)

            

      

      Total
        time
        for Frame Set-up and Measure and any cosmetic
        repairs of
        2.0
        hours or
        less are acceptable, on the following components, provided there is no
        structural damage and the repairs meet GM standards:

      

      Ø  Frame
        Rail / Rail Extensions

      Ø  Apron
        /
        Upper Reinforcements

      Ø  Cowl
        Panel

      Ø  Hinge
        /
        Windshield "A" Pillar

      Ø  Center
        /
        "B" Pillar

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      The
        cosmetic repair time shown above is just that, cosmetic. This may include
        aligning the ends of the frame rails to align the bumper, etc. Pulling or
        sectioning frame rails, doorframes, and pillars are not acceptable repairs
        for
        rental vehicles being turned back to General Motors. A cosmetic repair to
        frame
        rails does not include adding body filler / Bondo. This practice will
        permanently reject the vehicle.

      

      Repaired
        damage or replacement of the following components is acceptable:

       

      Ø  Radiator
        Core Support

      Ø  Frame
        Rail Extensions 

      Ø  Engine
        Sub-Frame

      Ø  Outer
        Rocker Panel

      Ø  Rear
        Body
        Panel

      Ø  Quarter
        Panel (Proper Sectioning is Acceptable)

      Ø  Roof
        (Repair only, no repair to the Roof Rails)

      

      	VII.  	
              LITIGATION
                LIABILITY

            

      Non-disclosure
        of
        damages or the use of non-GM OEM parts by the Daily Rental Company may result,
        at GM's discretion, in the Daily Rental Company being named as a participant
        in
        any litigation brought against GM. If a Daily Rental Company attempts to
        return
        vehicles with non-disclosed damage, or purposely conceal prior repairs, it
        will
        result in GM refusing to accept additional vehicles for turn-back.

      

      	VIII.  	
              GENERAL
                TURN-IN PROCEDURES

            

      

      	A.  	
              FORECAST

            

      

      	1.  	
              At
                least 30 days prior to vehicle turn-in, the GM Remarketing Department
                is
                to be notified, in writing (E-mail)
                by
                the Corporate Office of the Daily Rental Company of the
                following:

            

      Ø  Turn-in
        location

      Ø  Quantity

      

      Please
        E-mail this forecast to your Account Representative. E-mail address can be
        found
        on page 13.

      

      	2.  	
              Two
                weeks prior to turn-in, the Daily Rental Company is to advise the
                GM
                approved turn-in location of tentative quantities and days for turn-in
                via
                written confirmation. GM reserves the option to limit daily returns.
                Failure to comply with this procedure may result in GM's refusal
                to allow
                any vehicle to be returned, thus delaying the actual acceptance
                date.

            

      

      	B.  	
              DELIVERY

            

      

      Vehicles
        returned for repurchase shall be delivered to a GM approved turn-in location
        and
        parked in the designated return area at no expense to GM. A list of GM approved
        locations is attached and is subject to change at GM's discretion (Exhibit
        D).
        Normal operating hours for delivery is 8am to 5pm, Monday through Friday.
        The
        Daily Rental Company should allow sufficient time to prepare the vehicle
        for
        turn-in, i.e. clean, vacuum, repaired/replaced items, etc.

      

      	C.  	
              INSPECTION

            

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Vehicles
        will be inspected by an authorized representative of GM, using the electronic
        Form AD006. The initial vehicle inspection will be provided to the Daily
        Rental
        Company at General Motor's expense. The Daily Rental Company will be charged
        $75
        for each inspection and/or verification required after the initial inspection.
        Hawaii vehicles will be charged $115 for each inspection required after the
        initial inspection.

       

      	 ̈  	
              The
                $75 re-inspection fee will be charged when a vehicle has been previously
                inspected and removed by the Daily Rental Company prior to acceptance,
                or
                when the Daily Rental Company replaces MET
                items.

            

      

      
 

      	D.  	
              REVIEWS

            

      

      	 ̈  	
              The
                Met/Non-Met report WILL BE printed twice daily - at mid-day and
                end-of-business (5:00 PM). The end-of-day report will not contain
                the
                day's summary but rather summarize what was completed after the mid-day
                report. 

            

      	 ̈  	
              Vehicle
                worksheets are printed and available throughout the
                day.

            

      	 ̈  	
              Reviews
                can be conducted throughout the day. However, reviews must be completed
                prior to three (3:00) PM the day following printing of the worksheet.
                This
                will permit prompt shipment of vehicles. If the review is not completed
                prior to three (3:00) PM, the vehicle will be processed as per the
                original inspection.

            

      	 ̈  	
              Vehicles
                with current damage not exceeding $400 and MET charges collectively
                not
                exceeding $40 will be processed as written, with no right to
                review.
                Keyless entry key fob programming is not included in the $40 total
                and is
                not considered a reviewable MET charge.

            

      

      	E.  	
              ACCEPTANCE

            

      

      	 ̈  	
              A
                copy of the Form AD006 or an electronic file will serve as the acceptance
                receipt for the Daily Rental Company. The date used to stop depreciation
                will be identified on the acceptance line of Form AD006 or on the
                electronic file.

            

      

      	 ̈  	
              The
                Daily Rental Company will have three (3) business days from the vehicle
                turn-in date to provide the vehicle title to the SGS Title Center:
                9805-C
                NorthCross Center Court, Huntersville, NC 28078 in order to receive
                the
                turn-in date as the depreciation stop date/acceptance date (should
                all
                other conditions be satisfied). The day the vehicle is turned in
                is
                considered the first business day. See Exhibit I for more
                details.

            

      

      	 ̈  	
              Turnback
                Limits - No more than 25% of a customer’s annual GM purchases can be
                returned in a single month or 30 day period. No more than 34% of
                a
                customer’s annual GM purchases can be returned in the 4th quarter. In the
                event of a rental account bankruptcy, GM would allow the rental account,
                at their option, to return their GM buyback vehicles evenly over
                any 3
                month timeframe. 

            

      

      	 ̈  	
              Transportation
                Liability - The rental company is responsible for turning the vehicle
                to
                the appropriate turn-back location for acceptance. After acceptance,
                GM
                will be responsible for logistics and collection of any subsequent
                damage.
                The acceptance process will remain unchanged and after acceptance,
                GM will
                have sole responsibility for controlling the
                sale.

            

      

      	F.  	
              PAYMENTS

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	 ̈  	
              When
                the vehicle sells at auction, the auction will direct net sale proceeds
                to
                the rental account. Net sale proceeds are defined as gross sales
                price
                less auction sales fees/expenses and transportation. The rental accounts
                will receive net sales proceeds within 2 business days after sale.
                The net
                proceeds will be forwarded to the rental accounts through Chase Bank's
                ACH
                system (or a similar structure as Chase is currently updating this
                system). GM will then process a true-up payment (Guaranteed Repurchase
                price less penalties less net sales proceeds already transmitted).
                GM will
                process the true-up payment on the 5th work day of each month and
                EFT to
                the rental accounts on the 7th work day. True-up payments will cover
                vehicles sold in the previous month (vehicles sold in July will be
                trued-up in August payment).

            

      

      	 ̈  	
              The
                RACs and GM are both interested in ensuring that the correct payments
                are
                made to the Rental Agencies by the auctions. Accordingly, GM will
                audit
                the net sales proceeds before they are released but will not stop
                the
                release. In
                the event of misdirected funds, GM will assume responsibility for
                making
                any correcting payments or collections. 
                This will be accomplished via invoicing and credit payment.
                GM
                will also provide reporting to the rental accounts on net sales proceeds
                rather than all the individual auctions sending sales data to the
                rental
                accounts.

            

      

      	 ̈  	
              SmartAuction
                process - The GM SmartAuction will continue to be operated by GMAC.
                Accordingly, all net sales proceeds will flow through GMAC to the
                Chase
                payment system to the rental accounts similar to the auction process.
                On
                day 1, when a dealer purchases a vehicle on SmartAuction, GMAC will
                access
                the dealer floorplan for payment. That evening, GM notifies the title
                center of the sold vehicles and purchasing dealer. On day 2, GMAC
                sends
                sales data to GM for review, at which point, the approval to release
                funds
                is triggered which may be the same day or typically the following
                day.
                Coincident with the review by GM on day 2, title center begins identifying
                and assigning titles to the purchasing dealer on day 2 and Fed Ex
                on day 3
                depending on timing. 

            

      

      	 ̈  	
              Buyback
                Provision - In the event that a vehicle is unsold and is still in
                GM
                inventory after 90 days of acceptance, GM will transfer the vehicle
                from
                the Daily Rental Guaranteed Residual Program to the Daily Rental
                Acquisition Program status on the 91st day. GM will initiate payment
                for
                the full guaranteed repurchase price (less penalties) within the
                BARS
                system and the rental account will be paid in approximately 7 days.
                The
                rental account will assign the title to GM when the vehicle reaches
                90
                day. GM will perform a weekly scan of the inventory with a run cycle
                to
                occur over the weekend to avoid mid-week program changes. Should
                the number of vehicles over 90 days old for any rental company exceed
                3%
                of that rental company's total accepted inventory, GM will not sell
                those
                vehicles until the rental accounts have received payment from GM
                and GM
                receives notice that the titles have been released. This metric (3%)
                will
                be calculated on a month-end basis.
                

            

      

      	 ̈  	
              Interest
                - For vehicles that are unsold after 25 days, GM will accrue $3.00/day
                to
                the rental accounts starting on the 26th day. On the 61st day, the
                rate
                will increase to $4.50/day until the vehicle is sold or transferred
                to the
                Daily Rental Acquisition Program. Interest will be paid with the
                true-up
                payment.

            

      

      Hawaii
        Vehicles - Due to the extended transportation time for Hawaii vehicles, Hawaiian
        vehicles will be segregated in the GM system. The buyback provision will
        be
        implemented at 120 days vs. 90 for these vehicles and interest charges will
        begin accruing at $3.00/day for vehicles in inventory over 56 days and at
        $4.50/day for vehicles in inventory over 91 days.

      

      	 ̈  	
              General
                Motors does not staff, nor process repurchase payments during the
                Christmas holiday or any period of time General Motors is closed
                (e.g. two
                week mandatory shutdown during July). Payment processing will not
                resume
                until General Motors officially returns to
                work.

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      	G.  	
              REJECTS

            

      

      	 ̈  	
              Rejected
                vehicles left at marshalling yards in excess of three (3) business
                days
                upon removal notification may result in no additional vehicles being
                approved for return.

            

      	 ̈  	
              Vehicles
                at an auction waiting for title more than 30 days must be removed
                by the
                rental company. The vehicle will be Currently Ineligible and will
                be
                assessed a re-inspection fee if / when it is returned. General Motors
                and
                all approved turn-in locations are not responsible for any liability
                regarding rejected vehicles, not removed within three (3) business
                days.

            

      	 ̈  	
              Vehicles
                that are classified as a Permanent Reject will be assessed a $50
                service
                charge. General Motors Remarketing will provide a quarterly invoice
                which
                will include the turn back location, turn back date, VIN, and the
                reject
                reason.

            

      

       

      H. OTHER

      

      	 ̈  	
              Mechanical
                and body shop labor rates used to calculate chargeable damage will
                be
                subject to change. The
                following are the current labor rates for metal repairs, paint, and
                mechanical (part replacement).

            

      	·  	
              $37.80
                Metal Repair - No change

            

      	·  	
              $37.80
                Paint - No change

            

      	·  	
              $38.00
                Part Replacement (mechanical)

            

      

      	 ̈  	
              In
                the event a vehicle is returned to General Motors in error, the following
                guidelines will be used to return the vehicle to the rental
                account.

            

      

      RENTAL
        ACCOUNT REQUEST FOR VEHICLE RETURN “PRIOR”
        TO
        ACCEPTANCE 

      Vehicle
        will be temporarily rejected by General Motors and returned to the rental
        account. If the vehicle is returned, at a later date, a $75.00 re-inspection
        fee
        will be charged.

      

      RENTAL
        ACCOUNT REQUEST FOR VEHICLE RETURN “AFTER”
        ACCEPTANCE 

      PAYMENT
        CAN BE STOPPED

      The
        vehicle will be released back to the rental account from its current location. A
        $250 administrative fee will be charged to the rental account in addition
        to all
        applicable expenses, including a $25 inspection fee and applicable shipping
        /
        marshalling expenses on a cost basis.

      

      

      PAYMENT
        CANNOT BE STOPPED OR FUNDS ALREADY RECEIVED

      The
        vehicle will not be returned to the rental account.

      

      

      	IX.  	
              PERMANENTLY
                REJECTED VEHICLES

            

      

      	 ̈  	
              Should
                disqualifying damage be noted after vehicle acceptance, General Motors
                will invoice the Daily Rental Company for the vehicle purchase price,
                an
                administrative fee of $250, plus any additional costs incurred following
                vehicle acceptance by GM (i.e., freight, cleanup, repairs), by
                a debit to current funds, or if no funds are available, a check forwarded
                to: 

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      General
        Motors Corporation

      Fleet
        and
        Commercial Operations - Remarketing

      Renaissance
        Center

      Tower
        100, 16th
        Floor

      MC
        482-A16-B36

      Detroit,
        MI 48265-1000

      

      	 ̈  	
              Vehicles
                removed from the program for any reason become the responsibility
                of the
                Daily Rental Company. The Daily Rental Company is responsible for
                arranging vehicle pick-up at a location designated by General
                Motors.

            

      

      

      

      

      

      

      

      

      	X.  	
              MISCELLANEOUS
                ITEMS

            

      

      	A.  	
              GENERAL
                RETURN FACILITY GUIDELINE

            

      

      Any
        abuse
        of personnel or property at a GM authorized return facility by a Daily Rental
        Company representative will result in the immediate expulsion of said person
        from the GM authorized return facility.

      

      	B.  	
              HOLIDAYS

            

      

      General
        Motors approved turn-in locations will be closed on the following
        dates:

      2006
        CY -
        January 2nd,
        May
        29th,
        July
        4th,
        September 4th,
        November 23rd,
        and
        December 25th,
        through
        January 1st, 2007. General Motors reserves the right to amend this list of
        dates
        at its discretion.

      

      	C.  	
              CONTACT
                INFORMATION

            

      

      All
        questions pertaining to the foregoing Turn-In Standards and Procedures should
        be
        directed to the appropriate General Motors Remarketing Customer Support Team
        Member:

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