Document:

Non-Competition Agreement - Joseph R. Seiders and CDI Corporation

 Exhibit 10.2 
 NON-COMPETITION AGREEMENT 
 and 

RELEASE AND WAIVER OF CLAIMS 
 THIS IS A NON-COMPETITION AGREEMENT and RELEASE AND WAIVER OF CLAIMS (hereinafter referred to as “Agreement”) made this 1st day of July 2011, by and between CDI Corporation (hereinafter
referred to as “Company”) and Joseph R. Seiders (hereinafter referred to as “Seiders”) which is entered into in connection with the termination of Seiders’ role as Chief Legal Officer and Secretary as of May 17,
2011 and Seiders’ employment with Company as of September 30, 2011 (“Termination Date”). 
 1.
Consideration. 
  

	 	(a)	As consideration for Seiders’ continued employment, Company agrees to pay Seiders the amount set forth in paragraph 2, below. 

 

	 	(b)	As consideration for Seiders’ non-competition and release undertakings and his other undertakings set forth herein and pursuant to the terms of the Company’s
Executive Severance Arrangement, Company agrees to pay Seiders twenty six bi-weekly payments of $11,025.60 each beginning October 1, 2011. Such bi-weekly payments will be made in conjunction with Company’s regular pay cycle and for any
bi-weekly period in which Seiders is not required to be paid pursuant to the foregoing for two full weeks (i.e., the first and last pay cycle of this period), his bi-weekly payment may be prorated accordingly so that the total payments over the
twelve month period are equal to $286,665.60. 

  

	 	(c)	Beginning on the first of the month following the Termination Date and continuing for twelve months, Company agrees to pay the same portion of the premium for Health
Benefits coverage for Seiders and Seiders’ current eligible dependents that Company was paying immediately prior to the Termination Date, so long as Seiders continues to pay the regular employee share of such premium. When Seiders becomes
eligible for COBRA, effective May 1, 2012, this payment will be contingent upon Seiders electing the COBRA coverage and will continue for so long as Seiders maintains COBRA coverage but not beyond the twelve month period ending October 31,
2012. Nothing in this Section shall be deemed to require the Company to reimburse Seiders for any deductibles, co-pays or other similar type payments incurred by Seiders relating to the Health Benefits. Following the twelve month period after the
Termination Date, Seiders shall be responsible for the full COBRA cost of the group health plan benefits for himself and his eligible dependents through the remainder of his COBRA eligibility period (October 31, 2013). 

  

											
		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

	 	(d)	Continue Seiders Basic Life Insurance coverage through the earlier of the twelve month anniversary of the Termination Date or the date on which Seiders secures new
employment. 

  

	 	(e)	Pay for or reimburse Seiders for outplacement services at a cost not to exceed $15,000 that have been incurred prior to the earlier of the twelve month anniversary of
the Termination Date or the date on which Seiders secures new employment; 

  

	 	(f)	Should Seiders secure another employment position, the Company shall have the right to cease, in its sole discretion, any additional severance payments, outplacement
services fees, Health Benefits and any Company payments for Health Benefits and COBRA continuation or life insurance benefits for the period following Seiders’ attainment of other employment. 

 

	 	(g)	Pursuant to their terms, (i) Seiders’ units granted pursuant to the CDI Corp. Stock Purchase Plan for Management Employees and Non-Employee Directors (the
“SPP Plan”) shall vest and be converted to shares of CDI Stock (as defined in the SPP Plan) on April 1, 2012; (ii) Seiders’ outstanding unvested Stock Appreciation Rights will vest upon Retirement, October 1, 2011, and
will be exercisable for six months after Retirement; (iii) Seiders’ outstanding unvested Time Vested Deferred Stock grants will have 20% of the original number of shares granted vested on April 1, 2012. All vesting of shares and/or
exercises will be net of tax withholdings. All remaining unvested shares, after the above described transactions, will be forfeited. 

 Company’s obligations under this Section 1 are contingent upon (i) Seiders’ execution of this Agreement and compliance with the terms of this Agreement, (ii) within five days
following the Termination Date, Seiders’ execution of the release attached as Exhibit A hereto, (iii) the seven (7) day revocation period provided in Section 8, below, having expired and (iv) Seiders having not exercised
that right of revocation. 
 2. Seiders agrees to continue to perform services as an employee to the Company through
September 30, 2011. Seiders will perform such services as he currently performs and in a manner and location as reasonably requested by the Chief Administrative Officer. Seiders will provide such services to the Company on a reasonably
satisfactory basis and will be compensated at his current salary and benefits. 

  
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		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

 3. From the date hereof through the twelve month period following his Termination Date,
Seiders agrees that he will not: 
  

	 	(a)	Directly or indirectly hire or cause to be hired, or solicit, interfere with or attempt to entice away from Company, any individual who is then an employee of Company
or, in the case of a person being hired, was an employee of Company within twelve months prior to the date of such hire; 

  

	 	(b)	Directly or indirectly, contact, solicit, interfere with or attempt to entice away from Company any customer of Company on behalf of a business which competes with
Company; 

  

	 	(c)	Own, manage, operate, finance, join, control, or participate in the ownership, management, operation, financing or control of, or be connected directly or indirectly,
as proprietor, partner, shareholder (other than ownership of not more than two percent of a company’s outstanding capital stock), director, officer, executive, employee, agent, creditor, consultant, independent contractor, joint venturer,
investor, representative, trustee or in any other capacity or manner whatsoever with any business engaged in any of the following activities: that provides candidates or personnel to customers on a direct, contract or temporary basis; which provides
technology and/or administration to assist in the coordination of such services provided by multiple vendors; which provides services related to either of the foregoing; which provides architectural, engineering, design, drafting, construction
management or related services to customers in the government sector (including the military) or in the aerospace, chemicals, refining, pipeline, power generation, telecommunications, heavy manufacturing, gas gathering and processing, life sciences
or any other industry serviced by the Company; or which provides systems and network support, upgrades and migrations; desk-side support; help desk support; data processing; software development or related services to customers. This provision,
Section 3 (c) shall apply throughout the United States and in any other geographical market that the Company is then conducting business. 

  

	 	(d)	 Seiders acknowledges that the restrictions contained in this Section 3 are reasonably designed to protect the Company’s legitimate business
interests. Should Seiders breach any provisions of this Section 3, the Company shall be entitled to injunctive relief in addition to any other relief available in equity or at law, and Seiders shall be responsible for reimbursing the
Company’s reasonable 

  
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		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

	 	
attorneys’ fees. Should any provision of this Section 3 be determined to be unreasonable as to duration, geographic scope or otherwise by a court of competent jurisdiction, the court
shall have the authority to modify such provisions to the extent necessary to render them enforceable. 

 4.
Seiders hereby, on behalf of himself, his descendants, ancestors, dependents, heirs, executors, administrators, assigns and successors, fully and forever releases and discharges Company and its parent and it parent’s parent, and its and their
subsidiaries, affiliates, divisions, successors, and assigns, together with its and their past and present directors, officers, agents, attorneys, insurers, employees, stockholders, and representatives (“Company’s Related Parties”),
from any and all claims, wages, demands, rights, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders or liabilities of whatsoever kind or
nature in law, equity or otherwise, whether now known or unknown, suspected or unsuspected, which Seiders now owns or holds or has at any time heretofore owned or held against said Company or Company’s Related Parties through the date of
Seiders’ signature on this Agreement. This general release of claims includes without limitation all claims arising out of or in any way connected with Seiders’ employment relationship with Company or the termination of that employment
relationship, or any other transactions, occurrences, acts or omissions or any loss, damage or injury whatsoever, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of Company or any of Company’s
Related Parties committed or omitted prior to the date of this Release, including, but not limited to claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans With Disabilities Act, the Family
Medical Leave Act, and any state or local statute which deals with discrimination or any claim for severance pay, bonus, salary, overtime pay, sick leave, holiday pay, vacation pay, stock options or other stock related compensation or programs, life
insurance, health or medical insurance, benefits under any pension, retirement or 401(k) plan or any other fringe benefit, or disability benefit. 
 The release in the previous paragraph shall not, however, release any rights to (i) those items to be paid as consideration under this Agreement, (ii) payments to which Seiders is entitled under
any Company insurance, retirement, profit sharing, deferred compensation, 401(k), or any other Company benefit plan as of the Termination Date – the benefits under which will be paid in accordance with the terms of such plans, it being
understood and agreed that neither the consideration paid under the Agreement nor the way that consideration is calculated or paid shall create or enhance any such entitlement, or (iii) reimbursement of any business expenses incurred by Seiders
in connection with Company’s business and in accordance with Company’s policy for the reimbursement of such expenses. 

  
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		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

 5. Seiders warrants and agrees that he is responsible for any federal, state, and local
taxes which may be owed by his by virtue of the receipt of any portion of the consideration herein provided. Company will, however, make any appropriate withholdings on amounts to be paid hereunder, as required by law. 

6. Seiders acknowledges that he is hereby advised to consult with an attorney of his choice in regard to this Agreement. Company and
Seiders represent that they have relied upon the advice of their attorneys, who are attorneys of their own choice, or they have knowingly and willingly not sought the advice of their attorneys. Seiders hereby understands and acknowledges the
significance and consequences of an agreement such as this and represents that the terms of this Agreement are fully understood and voluntarily accepted by his. 
 7. Both Seiders and Company have cooperated in the drafting and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either party
on the basis that the party was the drafter. 
 8. Seiders further acknowledges that he is being given a period of twenty-one
days to consider this Agreement and that, should he sign, he may revoke this Agreement within seven (7) days following his signing of the Agreement by giving written notice of such revocation to Company. Such notice must be dated within such
seven day time period and must be received promptly thereafter by Company. This Agreement shall not become effective or enforceable until after the seven (7) day revocation period has expired. 

9. Following the Termination Date, Seiders’ “Banked PDOs” under the 2004 PDO Return Program will be paid out pursuant to
the terms of the 2004 PDO Return Program. Seiders agrees that any unused PDOs accrued through September 30, 2011 will be taken prior to the Termination Date. 
 10. Seiders agrees to perform certain actions that may be reasonably necessary in Company’s defense or prosecution of disputes, claims and/or lawsuits that involve matters or events, which occurred
during Seiders’ period of employment with Company, above. Such actions would include reviewing files and records, attending and participating in meetings, giving depositions, attending and testifying at trials and performing similar actions.
Company agrees to provide reasonable notice, and as much notice as is practicable under the circumstances, to Seiders before requesting Seiders to perform any such actions. Company further agrees to cooperate with Seiders in scheduling all such
actions so as not to unduly burden Seiders or to unduly interfere with Seiders’ other activities and responsibilities. Company agrees to promptly reimburse Seiders for all out-of-pocket costs (including travel, meal and lodging costs)
reasonably incurred by Seiders in fulfilling Seiders’ responsibilities under this paragraph, upon Seiders’ providing proper documentation of such costs. Also, Company agrees to pay Seiders reasonable compensation for time spent by Seiders
fulfilling his responsibilities under this paragraph after September 30, 2011. 

  
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		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

 11. Seiders will be considered for a partial 2011 bonus at the time bonuses for 2011 are
awarded. Pursuant to the Executive Severance Program, any such bonus would be awarded at the sole discretion of the Company’s CEO and Compensation Committee. 
 12. Seiders agrees to hold all of Company’s Confidential Information in the strictest confidence and not use any Confidential Information for any purpose and not publish, disseminate, disclose or
otherwise make any Confidential Information available to any third party. “Confidential Information” means all information, data, know-how, systems and procedures of a technical, sensitive or confidential nature in any form relating to
Company, its parents, subsidiaries, affiliates, franchisees and/or its customers, including, without limitation, all business and marketing plans, marketing and financial information, pricing, profit margin, cost and sales information, operations
information, forms, contracts, bids, agreements, legal matters, unpublished written materials, names and addresses of customers, franchisees and prospective customers, systems for recruitment and franchise sales, contractual arrangements, market
research data, information about employees, suppliers, franchisees and other companies with which Company has a commercial relationship, plans, methods, concepts, computer programs or software in various stages of development, passwords, source code
listings and object code. 
 13. Seiders agrees to return to Company prior to or upon the Termination Date all Company property
and documents that Seiders may have in his possession. 
 14. Seiders agrees not to use after the Termination Date any computer
or network access code or password belonging to Company or made available to his by virtue of his employment with Company, and not to access any computer, network, or data base in the possession or control of Company. 

15. Both parties agree to maintain the terms of this Agreement as confidential and not to disclose such terms to any party except that
Seiders may disclose the terms of this Agreement to his immediate family and his legal and financial advisors and may disclose the contents of Section 3, i.e. the non-disclosure and non-compete obligation, to prospective employers and that
Company may disclose the terms of this Agreement to its financial, accounting and legal advisors or otherwise as may be required by law or necessary for its legitimate business operations 

16. If one or more of the provisions of this Agreement shall for any reason be held invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect or impair any other provision of this Agreement, but this Agreement shall be construed as if such invalid, illegal or unenforceable provision had not been contained herein. 

  
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		 		    	BDS	 		 	    JRS    	 	
		 		    	Company	 		 	Seiders	 	

 17. This Agreement constitutes the entire agreement between the parties concerning the
termination of Seiders’ employment, the payment of any compensation to Seiders following such termination and all other subjects addressed herein. This Agreement supersedes and replaces all prior negotiations and agreements relating to the
subjects addressed herein. All agreements, proposed or otherwise, whether written or oral, concerning all subject matters covered herein are incorporated into this Agreement. 
 18. Notwithstanding anything contained herein to the contrary, to the extent that any amounts payable to Seiders under the terms of this Agreement constitute non-qualified deferred compensation (within
the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“409A”)) and would be subject to any taxes, interest or penalties if paid or provided to Seiders prior to the six month anniversary of his “separation
from service” (within the meaning of 409A), then any such payments or benefits that would otherwise be so provided during such six month period shall instead be withheld and paid to Seiders in a lump sum on the first business day following the
six month anniversary of his separation from service, with all remaining payments to be provided as if no such delay had occurred. Each severance installment payable under Section 1(b) hereof shall be treated as a series of separate payments in
accordance with 409A. 
 Intending to be legally bound, the parties hereto affix their signatures below. 

 

							
	            7-1-11	 		 		 	        /s/ Joseph R. Seiders
	              Date	 		 		 	        Joseph R. Seiders
			
		 		 	CDI Corporation
				
	            7-1-11	 		 	By:	 	        /s/ Brian D. Short
	              Date	 		 		 	        Brian D. Short
		 		 		 	         Senior Vice President, Chief
         Administrative Officer and General

        Counsel

  
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 EXHIBIT A 
 Release and Waiver 
 Seiders hereby, on behalf of himself, his descendants, ancestors,
dependents, heirs, executors, administrators, assigns and successors, fully and forever releases and discharges Company and its parent and it parent’s parent, and its and their subsidiaries, affiliates, divisions, successors, and assigns,
together with its and their past and present directors, officers, agents, attorneys, insurers, employees, stockholders, and representatives (“Company’s Related Parties”), from any and all claims, wages, demands, rights, liens,
agreements, contracts, covenants, actions, suits, causes of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders or liabilities of whatsoever kind or nature in law, equity or otherwise, whether now known or
unknown, suspected or unsuspected, which Seiders now owns or holds or has at any time heretofore owned or held against said Company or Company’s Related Parties through the date of Seiders’ signature on this Agreement. This general release
of claims includes without limitation all claims arising out of or in any way connected with Seiders’ employment relationship with Company or the termination of that employment relationship, or any other transactions, occurrences, acts or
omissions or any loss, damage or injury whatsoever, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of Company or any of Company’s Related Parties committed or omitted prior to the date of this
Release, including, but not limited to claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans With Disabilities Act, the Family Medical Leave Act, and any state or local statute which deals
with discrimination or any claim for severance pay, bonus, salary, overtime pay, sick leave, holiday pay, vacation pay, stock options or other stock related compensation or programs, life insurance, health or medical insurance, benefits under any
pension, retirement or 401(k) plan or any other fringe benefit, or disability benefit. 
 The release in the previous paragraph shall not,
however, release any rights to (i) those items to be paid as consideration under this Agreement, (ii) payments to which Seiders is entitled under any Company insurance, retirement, profit sharing, deferred compensation, 401(k), or any
other Company benefit plan as of the Termination Date – the benefits under which will be paid in accordance with the terms of such plans, it being understood and agreed that neither the consideration paid under the Agreement nor the way that
consideration is calculated or paid shall create or enhance any such entitlement, or (iii) reimbursement of any business expenses incurred by Seiders in connection with Company’s business and in accordance with Company’s policy for
the reimbursement of such expenses. 
  

					
	  	 		 	  
	Date	 		 	Joseph R. Seiders

  
 -8-Amendment No. 5 to Amended and Restated Credit Agreement

 Exhibit 10.1 
 AMENDMENT NO. 5 TO 
 AMENDED AND RESTATED CREDIT AGREEMENT

 THIS AMENDMENT NO. 5 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Fifth Amendment”), dated
October 31, 2011, is by and among URBAN OUTFITTERS, INC., a Pennsylvania corporation (“Urban”), and certain of its subsidiaries party hereto (together with Urban, individually and collectively, the
“Borrowers”); the Lenders party to the Credit Agreement defined below, and WELLS FARGO BANK, NATIONAL ASSOCIATION (successor by merger to Wachovia Bank, National Association), as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”). 
 BACKGROUND 

A. Pursuant to that certain Amended and Restated Credit Agreement, dated September 23, 2004, by and among the Borrowers, the Lenders
referred to therein, and the Administrative Agent, as amended by (i) that certain Letter Agreement Concerning Amended and Restated Note, dated May 18, 2005, (ii) that certain First Amendment to Amended and Restated Credit Agreement,
dated November 30, 2006, (iii) that certain Extension of Amended and Restated Credit Agreement, dated November 27, 2007, (iv) that certain Amendment No. 2 to Amended and Restated Credit Agreement, dated December 10,
2007, (v) that certain Amendment No. 3, Consent and Waiver to Amended and Restated Credit Agreement dated as of September 21, 2009, (vi) that certain letter agreement dated December 1, 2010, (vii) that certain letter
agreement dated March 9, 2011, and (viii) that certain Amendment No. 4 to Amended and Restated Credit Agreement, dated April 25, 2011 (collectively, as so amended and as may be further amended, restated or modified from time to
time, the “Credit Agreement”), the Lenders agreed, inter alia, to provide for a revolving line of credit in the maximum principal amount of Sixty Million Dollars ($60,000,000) (which was increased to Eighty Million Dollars
($80,000,000) under the terms of Section 2.5(b) of the Credit Agreement on May 27, 2010 pursuant to a Fifth Amended and Restated Note by Borrowers in favor of Wells Fargo, N.A. in the maximum principal amount of $80,000,000 dated
May 27, 2010 and a Letter Agreement Concerning Amended and Restated Note dated May 27, 2010 among Wells Fargo, N.A., Borrowers and Guarantors) to fund working capital (including capital expenditures), to support the issuance of documentary
and standby Letters of Credit, and to finance the general corporate purposes of the Borrowers, and (ii) provide for the ability to increase the Commitment Amount up to the maximum principal amount of One Hundred Million Dollars ($100,000,000)
(which was increased to (One Hundred Seventy-Five Million Dollars ($175,000,000) under the terms of Section 2.5(b) of the Credit Agreement on April 25, 2011 pursuant to the terms of Amendment No. 4 to Amended and Restated Credit
Agreement). 
 B. Borrowers have requested to amend the Credit Agreement to, inter alia: (i) join additional
guarantors; (ii) release certain borrowers and guarantors; and (iii) make certain other amendments, as set forth herein. 
 C. The Lenders and the Administrative Agent have agreed to the foregoing modifications as more particularly described herein and subject to the terms and conditions hereof. 

 NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows: 
 1. Definitions. 
 (a) General Rule. Except as expressly set forth
herein, all capitalized terms used and defined herein have the respective meanings ascribed thereto in the Credit Agreement. 

(b) Additional Definitions. The following additional definitions are added to Section 1.1 of the Credit Agreement to read in
their entireties as follows: 
 “Fifth Amendment” means that certain Amendment No. 5 to Amended and
Restated Credit Agreement, by and among Borrowers, Lenders, and Administrative Agent, dated October 31, 2011. 

“Fifth Amendment Documents” means, collectively, the Fifth Amendment and each other document, instrument, certificate and
agreement executed and delivered by any Borrower, any Subsidiary, any Guarantor, or their counsel in connection with the Fifth Amendment or otherwise referred to therein or contemplated thereby, all as they may be amended, restated or otherwise
modified. 
 “Fifth Amendment Effective Date” means the date on which the conditions set forth in
Section 5 of the Fifth Amendment have been satisfied. 
 (c) Amended Definitions. The
following definitions are amended and restated to read in their entireties as follows: 
 “Fixed Charge Coverage
Ratio” means, as of any date determination, as to Urban and its Consolidated Subsidiaries, the ratio of (a) EBITDAR divided by (b) Interest Expense plus Rents. 

“Guarantors” means collectively those direct and indirect Subsidiaries of the Borrowers set forth on Schedule 3 to
the Credit Agreement, and “Guarantor” means any of such Guarantors and each additional entity whether now owned or hereafter acquired that becomes a Guarantor pursuant to Section 8.12 hereof. 

“Loan Documents” means, collectively, this Agreement, the Note, the Guaranty Agreement, the Applications, the Letters of
Credit and each other document, instrument, certificate and agreement executed and delivered by any Borrower, any Subsidiary, any Guarantor or their counsel in connection with this Agreement or otherwise referred to herein or contemplated hereby,
all as may be amended, restated or otherwise modified, including, without limitation, the First Amendment Documents, the Second Amendment Documents, the Third Amendment Documents, the Fourth Amendment Documents, and the Fifth Amendment Documents.

 “Non-U.S. Borrowers” means, collectively, all Borrowers formed under a jurisdiction outside of the United
States, including, without limitation, URBN UK Limited (f/k/a Urban Outfitters UK Limited), a corporation formed under the laws of England and Wales, and HK Sourcing Limited, a limited liability company incorporated in Hong Kong, and
“Non-U.S. Borrower” means any of such Non-U.S. Borrowers. 

  
 -2-

 2. Amendments to Credit Agreement and Replacements of Schedules to Credit Agreement.

 (a) Replacement of Schedules 1 (Subsidiaries that are Borrowers) and 3 (Guarantors). Schedules 1 and 3 to the Credit
Agreement are hereby amended and restated in their entireties as set forth on Schedule 1 and Schedule 3, respectively, to this Fifth Amendment. All references in the Loan Agreement to Schedule 1 and/or Schedule 3 shall be
deemed to be references to the Schedule 1 and/or Schedule 3 attached to this Fifth Amendment. In addition, Schedule 4 is hereby deleted from the Credit Agreement. 

(b) Modification of Section 3.3 of the Credit Agreement. Section 3.3 of the Credit Agreement is hereby amended and
restated to read in its entirety as follows: 
 “Section 3.3 Existing Letters of Credit issued by Wells Fargo. Each
of (i) the Existing Wells Fargo Facility, (ii) that certain Continuing Letter of Credit Agreement executed by Urban dated October 12, 2001, (iii) that certain CyberImport International Operations Agreement executed by Urban on
January 8, 2004, and (iv) each other master letter of credit agreement previously executed by any Borrower or Subsidiary with Wells Fargo, is hereby deemed superseded in its entirety by the terms and conditions of this Agreement.”

 3. Representations and Warranties. Each Borrower hereby represents and warrants to Lenders, as to themselves and their
Subsidiaries, as follows: 
 (a) Representations. As of the Fifth Amendment Effective Date and after giving effect
thereto, the Borrowers represent and warrant as follows: (i) the representations and warranties set forth in Article VI of the Credit Agreement are true and correct in all material respects, except for any representation or warranty made as of
an earlier date, which representation and warranty shall remain true and correct as of such earlier date; (ii) there is no Event of Default or Default under the Credit Agreement, as amended hereby, which has not been cured or waived; and
(iii) no Material Adverse Effect has occurred or is continuing. 
 (b) Power and Authority. Each Borrower has the
power and authority under the laws of its jurisdiction of formation and under its respective formation documents to enter into and perform this Fifth Amendment and the other documents and agreements required hereunder (collectively, the
“Fifth Amendment Documents”); all necessary actions (corporate or otherwise) for the execution and performance by each Borrower of the Fifth Amendment Documents have been taken; and each of the Fifth Amendment Documents and the
Credit Agreement, as amended, constitute the valid and binding obligations of Borrowers, enforceable in accordance with their respective terms. 
 (c) No Violations of Law or Agreements. The execution and performance of the Fifth Amendment Documents by Borrowers and Guarantors party thereto will not: (i) violate any provisions of any law
or regulation, federal, state, local, or foreign, or any formation document of any Borrower or (ii) result in any breach or violation of, or constitute a default or require the obtaining of any consent under, any material agreement or
instrument by which any Borrower or its property may be bound. 

  
 -3-

 4. Release of Certain Credit Parties. Administrative Agent and Lenders hereby:
(i) release Urban Outfitters Ireland Limited, a corporation formed under the laws of the Republic of Ireland, from its obligations as a Borrower under the Credit Agreement, the Notes and the other Loan Documents and (ii) release U.O.D.
Secondary, Inc., a Delaware corporation, and UOGC, Inc., a Florida corporation, from their obligations as Guarantors under the Guaranty Agreement and the other Loan Documents except that the indemnities to which the Administrative Agent and Lenders
are entitled under the provisions of Article XIII of the Credit Agreement and any other provisions of the Credit Agreement and the Loan Documents shall continue in full force and effect and shall protect the Administrative Agent and the Lenders
against events arising after such release as well as before. 
 5. Conditions to Effectiveness of Amendment. This Fifth
Amendment shall be effective upon the date of Administrative Agent’s receipt of the following documents, each in form and substance reasonably satisfactory to Administrative Agent: 

(a) Fifth Amendment. This Fifth Amendment duly executed and delivered by each of the Borrowers, the Lenders, and the
Administrative Agent. 
 (b) Amended Disclosure Schedules to Credit Agreement. The amended disclosure schedules to the
Credit Agreement, attached hereto as Schedule 1 and Schedule 3. 
 (c) Secretary’s Certificates of New
Guarantors. A Secretary’s Certificate for each of the New Guarantors (defined below), including and/or attaching, as the case may be: (i) a certification of the incumbency for such New Guarantor; (ii) the formation documents of
such New Guarantor (including, without limitation, articles of incorporation, by-laws, operating agreement, and other similar organizational documents, as the case may be; or including a statement that such documents have not changed since they were
last delivered to Administrative Agent), (iii) written consent of the Board of Managers (or equivalent governing body) of such New Guarantor, approving the Fifth Amendment and the transactions contemplated thereby and authorizing joinder to the
Guaranty Agreement by the New Guarantor; and (iv) a certificate of good standing or subsistence, as the case may be, issued by the Secretary of State or equivalent governing body of such New Guarantor’s jurisdiction or country of
incorporation or organization, as the case may be, and dated as of a recent date acceptable to the Agent in its sole discretion. 
 (d) Joinder to Guaranty. The Joinder to Guaranty, duly executed and delivered by each of UO.com LLC, a Pennsylvania limited liability company, and Anthropologie.com LLC, a Pennsylvania limited
liability company (each a “New Guarantor,” and collectively, the “New Guarantors”), guarantying the Borrowers’ obligations under the Credit Agreement, in the form attached hereto as Exhibit I.

 (e) Acknowledgement of Guarantors. The Acknowledgement of Guarantors, duly executed and delivered by each of the
Guarantors, in the form attached hereto as Exhibit II. 
 (f) Financial Condition and Officer Compliance
Certificate. Financial Condition and Officer Compliance Certificate executed and delivered by an authorized officer of Urban, in substantially the form attached hereto as Exhibit III. 

(g) Pennsylvania Legal Opinions. Legal Opinion of Pennsylvania counsel to Borrowers, with respect to the New Guarantors, in form
and substance satisfactory to the Administrative Agent. 

  
 -4-

 (h) Other Documents. Such additional documents as Administrative Agent may
reasonably request. 
 (i) Payment of the Administrative Agent’s Legal and Other Fees. Payment to the
Administrative Agent for all reasonable fees and expenses (including without limitation reasonable fees and expenses of counsel) incurred by Administrative Agent in connection with the preparation, execution and delivery of this Fifth Amendment.

 6. Affirmations. Borrowers hereby: (i) affirm all the provisions of the Credit Agreement, as amended by this
Fifth Amendment; and (ii) agree that the terms and conditions of the Credit Agreement shall continue in full force and effect, as amended hereby. 
 7. Miscellaneous. 
 (a) Borrowers agree to pay Administrative Agent for
all reasonable fees and expenses (including without limitation reasonable fees and expenses of counsel) incurred by Administrative Agent and its counsel in connection with the due diligence review, the preparation, execution and delivery of this
Fifth Amendment, and the future administration by the Administrative Agent of this Fifth Amendment and the transactions contemplated hereby. 
 (b) This Fifth Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without regard to conflicts of law or choice of law principles. 

(c) This Fifth Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and shall be binding upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same agreement. 

(d) Entirety. This Fifth Amendment, together with the other Fifth Amendment Documents, the Credit Agreement, and the other Loan
Documents, represents the entire agreement of the parties hereto and thereto, and supersedes all prior agreements and understandings, oral and written, if any, including any commitment letters or correspondence relating to the Fifth Amendment
Documents, the other Loan Documents or the transactions contemplated herein or therein. 
 (e) No Waiver. Except as
expressly set forth herein, the execution, delivery and performance of this Fifth Amendment shall not operate as a waiver of any right, power or remedy of Administrative Agent, any Issuing Lender, or Lenders under the Credit Agreement and the
agreements and documents executed in connection therewith or constitute a waiver of any provision thereof. 
 [Signature Pages
Follow] 

  
 -5-

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Amendment No. 5 to
Amended and Restated Credit Agreement the day and year first above written. 
  

							
		 	Borrowers:
	
	URBAN OUTFITTERS, INC.
			
		 	By:	 	 /s/ Eric Artz

		 		 	Name:	 	Eric Artz
		 		 	Title:	 	Chief Financial Officer
	
	UO FENWICK, INC.
			
		 	By:	 	 /s/ Eric Artz

		 		 	Name:	 	Eric Artz
		 		 	Title:	 	Chief Financial Officer
	
	U.O. MERCHANDISE, INC.
			
		 	By:	 	 /s/ Eric Artz

		 		 	Name:	 	Eric Artz
		 		 	Title:	 	Chief Financial Officer
	
	HK SOURCING LIMITED
			
		 	By:	 	 /s/ Eric Artz

		 		 	Name:	 	Eric Artz
		 		 	Title:	 	Chief Financial Officer
	
	URBN UK LIMITED f/k/a URBAN OUTFITTERS UK LIMITED
			
		 	By:	 	 /s/ Eric Artz

		 		 	Name:	 	Eric Artz
		 		 	Title:	 	Chief Financial Officer
			
		 	By:	 	 /s/ Glen A. Bodzy

		 		 	Name:	 	Glen A. Bodzy
		 		 	Title:	 	General Counsel and Secretary

  
 Signature
Page to Amendment No. 5 

 
					
	Lender:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

(successor by merger to Wachovia Bank, National

Association), as a Lender, Issuing Lender and as

Administrative Agent

		
	By:	 	 /s/ Stephen T. Dorosh

		 	Name:	 	Stephen T. Dorosh
		 	Title:	 	Senior Vice President

  
 Signature
Page to Amendment No. 5 

 EXHIBIT I 

FORM OF 
 JOINDER
TO GUARANTY AGREEMENT 
 By executing this Joinder to Guaranty Agreement, each of the undersigned hereby acknowledges and agrees
that (a) it has read that certain Guaranty Agreement (as it may be amended, restated or modified from time to time, the “Guaranty”), dated September 23, 2004, by certain affiliates of Urban Outfitters, Inc. (“Urban”),
in favor of Wells Fargo Bank, National Association (successor by merger to Wachovia Bank, National Association), as administrative agent for the benefit of the lenders under the Credit Agreement (defined below), executed and delivered in connection
with that certain Amended and Restated Credit Agreement (as amended through the date hereof, and as it may be amended, restated or modified from time to time, the “Credit Agreement”), dated September 23, 2004, by and among Urban, the
other Borrowers (as defined therein), the Lenders referred to therein, and Wells Fargo Bank, National Association (successor by merger to Wachovia Bank, National Association) as administrative agent, and (b) from and after the date of this
Joinder, (i) it makes each of the representations and warranties made by a Guarantor as though fully set forth herein, agrees to the covenants set forth in the Guaranty, and shall be bound by all of the terms and conditions of, and shall be an
additional Guarantor under the Guaranty, (ii) represents that its address for notices is as set forth below; and (iii) it is and shall be for all purposes a Guarantor thereunder. This Joinder to Guaranty Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Pennsylvania, without regard to conflicts of law or choice of law principles. 
 IN WITNESS WHEREOF, the undersigned have executed this Joinder to Guaranty Agreement as of October     , 2011. 

 

									
	Attest:	 		 	UO.com LLC
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
				
	Address for Notices:	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	
			
	Attest:	 		 	Anthropologie.com LLC
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
				
	Address for Notices:	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	

 EXHIBIT II 

FORM OF 
 CONSENT
AND REAFFIRMATION 
 Each of the undersigned hereby (i) acknowledges receipt of a copy of the foregoing Amendment
No. 5 to Amended and Restated Credit Agreement (the “Amendment”); (ii) consents to Borrowers’ execution and delivery of the Amendment; (iii) agrees to be bound by the Amendment; (iv) affirms that nothing
contained in the Amendment shall modify in any respect whatsoever any Loan Document to which it is a party except as expressly set forth in the Amendment; and (v) reaffirms that such Loan Documents shall continue to remain in full force and
effect. Although each of the undersigned has been informed of the matters set forth herein and has acknowledged and agreed to same, each of the undersigned understands that Administrative Agent and the Lenders have no obligation to inform such
undersigned of such matters in the future or to seek the undersigned’s acknowledgement or agreement to future amendments, waivers or consents, and nothing herein shall create such a duty. Capitalized terms have the meanings assigned to them in
the Amendment. 
 IN WITNESS WHEREOF, each of the undersigned has duly executed this Consent and Reaffirmation on and as of the
date of the Amendment. 
  

			
	 ANTHROPOLOGIE, INC.,

as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 URBAN OUTFITTERS WHOLESALE, INC.,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 URBAN OUTFITTERS WEST LLC,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 FREE PEOPLE OF PA LLC,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:

 
			
	 FREEPEOPLE.COM, LLC,

as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 U.O. REAL ESTATE LLC,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 URBN NL HOLDING, C.V.,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 UO (BERMUDA) LIMITED,
 as a Guarantor

		
	By:	 	  

		 	Name:
		 	Title:

  
 II-2

 EXHIBIT III 

FORM OF 

FINANCIAL CONDITION 
 AND OFFICER COMPLIANCE CERTIFICATE 
 The undersigned, on behalf of URBAN
OUTFITTERS, INC., a corporation organized under the laws of the Commonwealth of Pennsylvania (“Urban”), and each Subsidiary of Urban set forth on Schedule I to the Credit Agreement (defined below) (Urban, together with each Subsidiary,
collectively, the “Borrowers,” and each a “Borrower”), and not in any individual or personal capacity, hereby certifies to the Administrative Agent and the Lenders (as defined below), as follows: 

1. This Financial Condition and Officer Compliance Certificate (this “Certificate”) is delivered to you pursuant to
Section 5(f) of that certain Amendment No. 5 to Amended and Restated Credit Agreement, dated as of the date hereof (the “Fifth Amendment”), by and among the Borrowers, the Lenders referred to therein and Wells Fargo Bank,
National Association, as administrative agent (the “Administrative Agent”), which amends that certain Amended and Restated Credit Agreement, dated September 23, 2004, by and among the Borrowers, the Lenders referred to therein, and
the Administrative Agent, as amended by (i) that certain Letter Agreement Concerning Amended and Restated Note, dated May 18, 2005, (ii) that certain First Amendment to Amended and Restated Credit Agreement, dated November 30,
2006, (iii) that certain Extension of Amended and Restated Credit Agreement, dated November 27, 2007, (iv) that certain Amendment No. 2 to Amended and Restated Credit Agreement, dated December 10, 2007, (v) that certain
Amendment No. 3, Consent and Waiver to Amended and Restated Credit Agreement, dated as of September 21, 2009, (vi) that certain letter agreement dated December 1, 2010, (vii) that certain letter agreement dated March 9,
2011, and (viii) that certain Amendment No. 4 to Amended and Restated Credit Agreement, dated April 25, 2011 (as so amended and as may be further amended, restated or modified from time to time, the “Credit Agreement”).
Capitalized terms used and not defined herein have the respective meanings ascribed thereto in the Credit Agreement. 
 2. I
have reviewed the financial statements, dated as of                      and for the year ended
                    , of Urban and its Consolidated Subsidiaries, and such statements fairly present in all material respects (a) the
financial condition of Urban and its Consolidated Subsidiaries as of the dates indicated, and (b) the results of their operations and cash flows for the period indicated. 
 3. I have reviewed the terms of the Credit Agreement, and the other Loan Documents, and I have made, or caused to be made under my supervision, a review in reasonable detail of the transactions and the
condition of Urban and its Consolidated Subsidiaries during the accounting period covered by the financial statements referred to in Paragraph 2, above. Such review has not disclosed the existence during or at the end of such accounting period of
any condition or event that constitutes a Default or an Event of Default, nor do I have any knowledge of the existence of any such condition or event as at the date of this Certificate. 

4. Urban and its Consolidated Subsidiaries are in compliance with (a) the financial covenants contained in Article IX of the Credit
Agreement, as shown on Schedule I attached hereto, and (b) the restrictions contained in the Credit Agreement and the other Loan Documents. 
 [Signature Page Follows] 

  
 III-1

 IN WITNESS WHEREOF, the undersigned have executed this Financial Condition and Officer
Compliance Certificate as of the      day of             , 20    . 

 

					
	[CORPORATE SEAL]	 	URBAN OUTFITTERS, INC.,
		 	for itself as a Borrower and for each other Borrower
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

 [Signature Page to Financial Condition and Officer Compliance Certificate] 

 SCHEDULE I 
 Financial Covenant Calculations 

 SCHEDULE 1 
 Subsidiaries that are Borrowers 
 UO Fenwick, Inc., a Delaware corporation; 

U.O. Merchandise, Inc., a Pennsylvania corporation; 
 URBN UK Limited (f/k/a Urban Outfitters UK Limited), a corporation formed under the laws of England and Wales; and 
 HK Sourcing Limited, a limited liability company incorporated in Hong Kong 

 SCHEDULE 3 
 Subsidiaries that are Guarantors 
 Anthropologie, Inc., a Pennsylvania corporation; 

Urban Outfitters Wholesale, Inc., a Pennsylvania corporation; 
 Urban Outfitters West LLC, a California limited liability company; 
 Free People of PA LLC, a
Pennsylvania limited liability company; 
 Freepeople.com LLC, a Delaware limited liability company; 

U.O. Real Estate LLC, a Pennsylvania limited liability company; 
 URBN NL Holding, C.V., a Dutch limited partnership; 
 UO (Bermuda) Limited, Bermuda company
limited by shares; 
 UO.com LLC, a Pennsylvania limited liability company; and 
 Anthropologie.com LLC, a Pennsylvania limited liability company.

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