Document:

Exhibit
10.20

 

AMENDMENT
TO TRANSITION SERVICES AGREEMENT

 

This Amendment to the
Transition Services Agreement, dated November 27, 2002, (“Amendment”) is
made and entered into by and between Limited Brands, Inc. (“Limited Brands”)
and Lerner New York Holding, Inc. and New York & Company, Inc.,
successor in interest to New York & Co. Group, Inc.
(collectively, “Buyer” and/or “Lerner”). 
Defined terms that are used but not defined herein shall be as defined
in the Agreement between Limited Brands and Buyer.  The Parties wish to amend the Agreement and
Schedules as described below.  It is
therefore agreed as follows:

 

1.   In the
Transition Services Agreement, Section 2 PURCHASE AND SALE OF SERVICES, Section 2.01
(b), item (4)  is deleted and replaced with the following: “(4) in no
event shall Limited Brands be required to provide Buyer and its Subsidiaries
with any Service other than services related to apparel and related merchandise
(and non merchandise on a project basis only) and accessories customarily handled
by Limited Brands, including personal care or cosmetics products which have
been approved by Limited Brands.”

 

2.   In
Schedule III to the Agreement, Item 2 Distribution Services, the
following is added: “2.16 In regard to personal care or cosmetic products
handled under this Agreement by Limited Brands, the following will apply:

 

a.                                       Buyer shall be responsible for arranging
all inbound shipments to Limited Brand’s designated site, delivered duty
paid.  Limited Brands is to provide
receiving, storage and destination shipping services.   Limited Brands will only receive items
included on an Advance Shipping Notice (ASN) or Advance Packing List. Limited
Brands will receive all items and notify Buyer of any discrepancies or damage
in shipment.  Buyer is responsible for
filing any claims for any noted discrepancies or damage.

 

b.                                      Limited Brands will support Buyer in
establishing a reverse logistics process for all items, originally shipped by
Limited Brands, that need to be handled for return/destruction (ie testers,
customer returns, damaged items). 
Limited Brands will only receive items from the Buyer locations in the
mailer designated and in accordance with all procedures specified by Limited
Brands.  Buyer will be the “shipper of
Record” and must ensure that all handling of materials by Buyer is performed in
accordance with Department of Transportation (“DOT”) and Environmental
Protection Agency and other federal regulations, or other laws and
guidelines.  Limited Brands will process
items and make them ready for the contracted third-party that Limited Brands
nominates to handle destruction and/or disposal of the returned items on behalf
of Buyer.

 

c.                                       Limited Brands will only accept and
handle (receive, distribute, store) personal care or cosmetics items that have
been pre-approved by Limited Brands and for which a current Material Safety
Data Sheet (MSDS) has been provided by Buyer. 
The MSDS may be provided to Limited Brands in electronic or paper
format.  The only approved
classifications of materials pursuant to the National Fire Protection
Association (NFPA) are the following:

 

Flammable Liquids IB

Flammable Liquids IC

Combustible Liquids II

Combustible Liquids IIIA

Combustible Liquids IIIB

 

 

Initially, there are 5 types of approved items:

 

·Hand and Body Cream

·Body Scrub

·Body Lotion

·Body Mist

·Shower Gel

 

Limited Brands may approve additional SKUs and
classifications at any time upon notice to Buyer.

 

3.   All costs
associated with the Distribution Services for personal care and cosmetics
products shall be determined by and charged to Buyer using the Customary
Billing Method.

 

4.   This Amendment is supplementary to and
modifies the Agreement.  This Amendment
shall be incorporated as part of the Agreement. The terms of this Amendment
supersede provisions in the Agreement only to the extent that the terms of this
Amendment and the Agreement expressly conflict. However, nothing in this
Amendment should be interpreted as invalidating the Agreement, and provisions
of the Agreement will continue to govern relations between the parties insofar
as they do not expressly conflict with this Amendment.

 

5.   Due to the nature of the personal care and
cosmetic items, the items may require specialized hazardous materials storage
outside DC2. Storage for hazardous materials shall be billed on a per pallet
basis under the Customary Billing method.

 

 

IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the date first written above.

 

	
  Lerner New York
  Holding, Inc.

  	
   

  	
  Limited Brands, Inc.

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Ronald W. Ristau

  	
   

  	
  By:

  	
  /s/ Douglas L. Williams

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Ronald W. Ristau

  	
   

  	
  Name:

  	
  Douglas L. Williams

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President and Chief
  Financial Officer

  	
   

  	
  Title:

  	
  General Counsel

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  October 11, 2007

  	
   

  	
  Date:

  	
  October 9, 2007

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  New York &
  Company, Inc.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Ronald W. Ristau

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Ronald W. Ristau

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President and Chief
  Financial Officer

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  October 11, 2007Exhibit
10.21

 

AMENDMENT
TO TRANSITION SERVICES AGREEMENT

 

This Amendment to the
Transition Services Agreement, dated November 27, 2002, (“Amendment”) is
made and entered into by and between Limited Brands, Inc. (“Limited Brands”)
and Lerner New York Holding, Inc. and New York & Company, Inc.,
successor in interest to New York & Co. Group, Inc.
(collectively, “Buyer” and/or “Lerner”). 
Defined terms that are used but not defined herein shall be as defined
in the Agreement between Limited Brands and Buyer.  The Parties wish to amend the Agreement and
Schedules as described below.  It is
therefore agreed as follows:

 

1. In Schedule III to the
Agreement, Item 6 Outbound Transportation To E-Commerce Distribution Center,
is added: “6.1  Limited Brands agrees to
provide to Buyer outbound transportation services from the Limited Brands
distribution center in Columbus, Ohio to the E-commerce distribution center in
Martinsville, Virginia in support of Buyer’s e-commerce operations provided
under this Agreement.  In regard to
outbound transportation services, the following will apply:

 

a.               All costs
associated with outbound transportation services from the Limited Brands
distribution center in Columbus, Ohio to the E-commerce distribution center in
Martinsville, Virginia in support of Buyer’s e-commerce operations provided
under this Agreement by Limited Brands shall be determined by and charged to
Buyer using the mutually agreed Specific Billing Method (as defined in
Transition Services Agreement, Article 3, Section 3.01).  The mutually agreed upon price for outbound
transportation services shall be $1.62 USD per carton from February 3,
2008 to August 2, 2008 and $1.75 USD per carton from August 3, 2008
to January 31, 2009.  Changes in
pricing for future fiscal years will be communicated by Limited Brands through
the budget guidance process at the start of each fiscal year.

 

2.               This Amendment is supplementary to and
modifies the Agreement.  This Amendment
shall be incorporated as part of the Agreement. The terms of this Amendment
supersede provisions in the Agreement only to the extent that the terms of this
Amendment and the Agreement expressly conflict. 
However, nothing in this Amendment should be interpreted as invalidating
the Agreement, and provisions of the Agreement will continue to govern
relations between the parties insofar as they do not expressly conflict with
this Amendment.

 

IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the date first written above.

 

	
  Lerner New York Holding, Inc.

  	
   

  	
  Limited Brands, Inc.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Ronald W. Ristau

  	
   

  	
  By:

  	
  /s/ Mike Sherman

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Ronald W. Ristau

  	
   

  	
  Name:

  	
  Mike Sherman

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President and Chief
  Financial Officer

  	
   

  	
  Title:

  	
  SVP
  Transportation & Logistics

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  July 17, 2008

  	
   

  	
  Date:

  	
  July 7, 2008

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  New York &
  Company, Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Ronald W. Ristau

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Ronald W. Ristau

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President and Chief
  Financial Officer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  July 17, 2008Exhibit 10.22

 

FOURTH AMENDMENT TO TRANSITION SERVICES AGREEMENT

 

This
FOURTH AMENDMENT TO TRANSITION SERVICES AGREEMENT (“Fourth Amendment”), dated April 6, 2009 and deemed effective as of February 1, 2009, is made and entered into by and
between Limited Brands, Inc. (“Limited Brands”) and Lerner New York
Holding, Inc. and New York & Company, Inc., successor in
interest to New York & Co. Group, Inc. (collectively, “Buyer”
and/or “Lerner”).  Defined terms that are
used but not defined herein shall be as defined in the Transition Services
Agreement dated November 27, 2002 (“Agreement”), as amended by that
certain Amendment To Transition Services Agreement dated April 19, 2006
(the “First Amendment”), that certain Amendment To Transition Services
Agreement dated on or about October 11, 2007 (the “Second Amendment”), and
that certain Amendment To Transition Services Agreement dated on or about July 17,
2008 (the “Third Amendment”; the Agreement, First Amendment, Second Amendment
and Third Amendment are collectively referred to herein as the “TSA”) between
Limited Brands and Buyer.  The Parties
wish to amend the TSA and Schedules as described below. It is therefore agreed
as follows:

 

1.                                       Section 5.02(a)(v) of
the TSA is deleted in its entirety and replaced with the following:

 

“For
any reason, upon 24-months advance written notice, which notice shall be given
no earlier than February 1, 2010, Buyer may
terminate (A) all (but not less than all) Logistics Services, (B) the
Logistics Services described under the heading “Compliance Support Services” in
Schedule III, or (C) if the Logistics Services described under the heading
“Compliance Support Services” in Schedule III have been terminated earlier, all
(but not less than all) of the remaining Logistics Services (such termination
right, as applicable, to be exercisable more than once).”

 

2.                                       Section 5.02(c) of
the TSA is deleted in its entirety and replaced with the following:

 

“For
any reason, upon 24-months advance written notice, Limited Brands may terminate
(A) all (but not less than all) Logistics Services, (B) the Logistics
Services described under the heading “Compliance Support Services” in Schedule
III, or (C) if the Logistics Services described under the heading “Compliance
Support Services” in Schedule III have been terminated earlier, all (but not
less than all) of the remaining Logistics Services (such termination right, as
applicable, to be exercisable more than once).”

 

3.                                       Schedule III, Section 1.1
of the TSA is deleted in its entirety and replaced with the following:

 

“Except
as otherwise provided in this Schedule III, Limited Brands’ obligation to
provide or procure, and Lerner’s obligation to purchase, the Services described
in this Schedule III (the “Logistics Services”) shall commence on the Closing
Date and terminate on the earliest to occur of (i) the date which is
twenty four (24) months after the date on which Limited Brands notifies Lerner
in writing that it has elected to terminate its obligation to provide or
procure the Logistics Services, (ii) the date which is twenty four (24)
months after the date on which Lerner notifies Limited Brands in writing that
it has elected to terminate its obligation to purchase the Logistics Services,
which notice shall be given no earlier than February 1,
2010, and (iii) the date specified for such termination in the
applicable section of Section 5.02 of the Agreement, if Limited Brands or
Lerner, as the case may be, terminates the Logistics Services in accordance
with Section 5.02 of the Agreement. The period from the Closing Date until
the date on which the Logistics Services are terminated is referred to as the “Logistics
Term.”

 

 

4.                                       Paragraph 6 of
the First Amendment is modified as follows:

 

“1.13
In addition to any other fees as stated herein, Lerner shall pay a Management
Fee to Limited Brands in the amounts as
specified below:

 

Management
Fee Payment Schedule

 

	
  Fiscal Year

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  2011

  	
   

  
	
  Management Fee

  	
   

  	
  $

  	
  3,000,000

  	
   

  	
  $

  	
  3,500,000

  	
   

  	
  $

  	
  4,000,000

  	
   

  
											

 

The
Management Fee Payment Schedule above is deemed to be effective retroactively
as of February 1, 2009. The payments for
Fiscal Year 2009 shall begin in April 2009 and continue each month thereafter in equal
installments. For all subsequent full Fiscal Years, the Management Fee shall be
invoiced forty percent (40%) of the annual total in the months of February to
July and sixty percent (60%) of the annual total in the months of August to
January and invoiced in equal payments over each of those semiannual
periods. For each successive annual period after the Fiscal Year
2011 payments, the annual amount of the Management Fee shall
cumulatively increase each year thereafter based upon the CPI Adjustment.  For any partial Fiscal Year at the end of the
term, the Management Fee shall be reduced in proportion to the number of months
in such Fiscal Year that this Agreement shall be effective, and the Management
Fee shall be billed and paid each month in equal installments.”

 

5.                                       This Fourth
Amendment is supplementary to and modifies the TSA.  This Fourth Amendment shall be incorporated
as part of the TSA.  The terms of this
Fourth Amendment supersede provisions in the TSA only to the extent that the
terms of this Fourth Amendment and the TSA expressly conflict.  However, nothing in this Fourth Amendment
should be interpreted as invalidating the TSA, and provisions of the TSA will
continue to govern relations between the parties insofar as they do not
expressly conflict with this Fourth Amendment.

 

2

 

IN
WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment as of
the date first written above.

 

 

	
  LERNER
  NEW YORK HOLDING, INC.

  	
   

  	
   

  	
  LIMITED
  BRANDS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Sheamus G. Toal

  	
   

  	
  By:

  	
  /s/
  Rick Jackson

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Sheamus
  G. Toal

  	
   

  	
  Name:

  	
  Rick
  Jackson

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Executive
  Vice President and Chief Financial Officer

  	
   

  	
  Title:

  	
  Executive
  Vice President – Limited Logistics Services

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  April 6,
  2009

  	
   

  	
  Date:

  	
  April 6,
  2009

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  NEW
  YORK & COMPANY, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Sheamus G. Toal

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Sheamus
  G. Toal

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Executive
  Vice President and Chief Financial Officer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  April 6,
  2009

  	
   

  	
   

  

 

3

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