Document:

Exhibit 4.6

      SENIOR SUBORDINATED NOTES SUPPLEMENTAL INDENTURE (this "Supplemental
Indenture"), dated as of May 29, 2007, by and among Claire's Stores, Inc., a
Florida corporation (the "Company"), the guarantors listed on Exhibit A hereto,
as guarantors (the "Guarantors"), and The Bank of New York, as Trustee (the
"Trustee"), to the Senior Subordinated Notes Indenture (the "Indenture"), dated
as of May 29, 2007, among Bauble Acquisition Sub, Inc., a Florida corporation
(the "Issuer"), and the Trustee.

                              W I T N E S S E T H:
                              - - - - - - - - - -

      WHEREAS, the Issuer has heretofore executed and delivered to the Trustee
the Indenture providing for the issuance of $335,000,000 aggregate principal
amount of 10.50% Senior Subordinated Notes due 2017 (the "Notes");

      WHEREAS, the Issuer has merged with and into the Company (the "Merger"),
with the Company as the surviving entity in the Merger;

      WHEREAS, as a result of the Merger, the Company is assuming, by and under
this Supplemental Indenture, the obligations of the Issuer for the due and
punctual payment of the principal of, premium, if any, and interest on all the
Notes and the performance and observance of the Indenture on the part of the
Issuer;

      WHEREAS, Sections 5.01 and 9.01 of the Indenture provide that the Trustee,
the Company and each of the Guarantors are authorized to execute and deliver
this Supplemental Indenture; and

      WHEREAS, this Supplemental Indenture has been duly authorized by all
necessary corporate or other action on the part of the Trustee, the Company and
each of the Guarantors.

      NOW, THEREFORE, for and in consideration of the foregoing premises and for
good and valuable consideration, the receipt of which is hereby acknowledged, it
is mutually covenanted and agreed, for the equal and ratable benefit of the
Holders of the Notes, as follows:

      Section 1. Capitalized Terms. Capitalized terms used herein but not
defined shall have the meanings assigned to them in the Indenture.

      Section 2. Assumption by the Company. The Company hereby assumes the
obligations of the Issuer for the due and punctual payment of the principal of,
premium, if any, and interest on all outstanding Notes issued pursuant to the
Indenture and the performance and observance of each other obligation and
covenant set forth in the Indenture to be performed or observed on the part of
the Issuer. The Company is hereby substituted for, and may exercise every right
and power of, the Issuer under the Indenture with the same effect as if the
Company had been named as the Issuer in the Indenture, and the Company is a
Successor Issuer under the Indenture.

      Section 3. Agreement to Guarantee. Each of the Guarantors, by its
execution of this Supplemental Indenture, agrees to be a Guarantor under the
Indenture and to be bound by

                                       1
<PAGE>

the terms of the Indenture applicable to Guarantors, including but not limited
to Article XI thereof.

      Section 4. Ratification of Indenture; Supplemental Indenture Part of
Indenture. Except as expressly amended hereby, the Indenture is in all respects
ratified and confirmed and all the terms, conditions and provisions thereof
shall remain in full force and effect. This Supplemental Indenture shall form a
part of the Indenture for all purposes, and every Holder of Notes heretofore or
hereafter authenticated and delivered shall be bound hereby.

      Section 5. The Trustee. The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental
Indenture or for or in respect of the recitals contained herein. Except as
otherwise expressly provided herein, no duties, responsibilities or liabilities
are assumed, or shall be construed to be assumed by the Trustee by reason of
this Supplemental Indenture. This Supplemental Indenture is executed and
accepted by the Trustee subject to all the terms and conditions set forth in the
Indenture with the same force and effect as if those terms and conditions were
repeated at length herein and made applicable to the Trustee with respect
hereto. In entering into this Supplemental Indenture, the Trustee shall be
entitled to the benefit of every provision of the Indenture relating to the
conduct or affecting the liability or affording protection to the Trustee,
whether or not elsewhere herein so provided.

      Section 6. Notices. For purposes of the Indenture, the address for notices
to the Company shall be as set forth below:

      Claire's Stores, Inc.
      3 SW 129th Avenue
      Pembroke Pines, FL 33027
      Attention:  Chief Financial Officer

      Section 7. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

      Section 8. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

      Section 9. Effect of Headings. The Section headings herein are for
convenience only and shall not effect the construction of this Supplemental
Indenture and shall in no way modify or restrict any of the terms or provisions
hereof.

      Section 10. Severability. In case any provision of this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

      Section 11. Benefits Acknowledged. The Guarantors' guarantees are subject
to the terms and conditions set forth in the Indenture. Each of the Guarantors
acknowledges that

                                       2
<PAGE>

it will receive direct and indirect benefits from the financing arrangements
contemplated by the Indenture and this Supplemental Indenture and that the
guarantee and waivers made by it pursuant to this Supplemental Indenture are
knowingly made in contemplation of such benefits.

                         [Signatures on following page]

                                       3
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed, all as of the date first above written.

                                      CLAIRE'S STORES, INC.

                                      By: /s/ Ira D. Kaplan
                                          --------------------------------------
                                          Name: Ira D. Kaplan
                                          Title: Senior Vice President
                                                 and Chief Financial Officer

                                      AFTERTHOUGHTS MERCHANDISING CORP.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

                                      BMS DISTRIBUTING CORP.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

                                      CBI DISTRIBUTING CORP.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

                                      CLAIRE'S BOUTIQUES, INC.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

                                      CLAIRE'S CANADA CORP.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

     [Signature Page to Supplemental Indenture - Senior Subordinated Notes]

<PAGE>

                                      CLAIRE'S PUERTO RICO CORP.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

                                      SASSY DOO!, INC.

                                      By: /s/ Rebecca Orand
                                          --------------------------------------
                                          Name: Rebecca Orand
                                          Title: Vice President and Secretary

     [Signature Page to Supplemental Indenture - Senior Subordinated Notes]

<PAGE>

                                      THE BANK OF NEW YORK,
                                      AS TRUSTEE

                                      By: /s/ Remo J. Reale
                                          --------------------------------------
                                          Name: Remo J. Reale
                                          Title: Vice President

     [Signature Page to Supplemental Indenture - Senior Subordinated Notes]

<PAGE>

                                    EXHIBIT A

                                   Guarantors
                                   ----------

                        Afterthoughts Merchandising Corp.

                             BMS Distributing Corp.

                              CBI Distributing Corp

                            Claire's Boutiques, Inc.

                              Claire's Canada Corp.

                           Claire's Puerto Rico Corp.

                                Sassy Doo!, Inc.Exhibit 4.7

[Global Note Legend]

THIS  GLOBAL  NOTE  IS HELD  BY THE  DEPOSITARY  (AS  DEFINED  IN THE  INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF,  AND IS NOT  TRANSFERABLE  TO ANY PERSON UNDER ANY  CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE  MAY MAKE SUCH  NOTATIONS  HEREON AS MAY BE REQUIRED
PURSUANT  TO SECTION  2.06(h) OF THE  INDENTURE,  (II) THIS  GLOBAL  NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE,
(III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.  UNLESS AND
UNTIL IT IS EXCHANGED  IN WHOLE OR IN PART FOR NOTES IN  DEFINITIVE  FORM,  THIS
NOTE MAY NOT BE TRANSFERRED  EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF
THE  DEPOSITARY OR BY A NOMINEE OF THE  DEPOSITARY TO THE  DEPOSITARY OR ANOTHER
NOMINEE  OF  THE  DEPOSITARY  OR BY THE  DEPOSITARY  OR ANY  SUCH  NOMINEE  TO A
SUCCESSOR  DEPOSITARY  OR A NOMINEE OF SUCH  SUCCESSOR  DEPOSITARY.  UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("DTC") TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED  IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE  REQUESTED BY
AN  AUTHORIZED  REPRESENTATIVE  OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED  REPRESENTATIVE  OF DTC),
ANY  TRANSFER,  PLEDGE OR OTHER USE HEREOF FOR VALUE OR  OTHERWISE  BY OR TO ANY
PERSON IS WRONGFUL  INASMUCH AS THE REGISTERED OWNER HEREOF,  CEDE & CO., HAS AN
INTEREST HEREIN.

[Private Placement Legend]

THIS NOTE (OR ITS  PREDECESSOR)  WAS ORIGINALLY  ISSUED IN A TRANSACTION  EXEMPT
FROM  REGISTRATION  UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE  "SECURITIES  ACT"),  AND THIS NOTE MAY NOT BE OFFERED,  SOLD OR
OTHERWISE  TRANSFERRED  IN THE  ABSENCE OF SUCH  REGISTRATION  OR AN  APPLICABLE
EXEMPTION  THEREFROM.  EACH  PURCHASER OF THIS NOTE IS HEREBY  NOTIFIED THAT THE
SELLER OF THIS NOTE MAY BE  RELYING  ON THE  EXEMPTION  FROM THE  PROVISIONS  OF
SECTION 5 OF THE SECURITIES  ACT. THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT
OF THE ISSUER THAT (A) THIS NOTE MAY BE OFFERED,  RESOLD,  PLEDGED OR  OTHERWISE
TRANSFERRED  ONLY  (1) (a) IN THE  UNITED  STATES  TO A  PERSON  WHO THE  SELLER
REASONABLY BELIEVES IS A QUALIFIED  INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A
UNDER  THE  SECURITIES  ACT,  (b)  OUTSIDE  THE  UNITED  STATES  IN AN  OFFSHORE
TRANSACTION  IN  ACCORDANCE  WITH RULE 904 UNDER THE  SECURITIES  ACT,  (c)

<PAGE>

IN A TRANSACTION  MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT,
(d) TO AN INSTITUTIONAL  "ACCREDITED  INVESTOR" (AS DEFINED IN RULE 501 (a) (1),
(2),  (3)  OR  (7)  UNDER  THE  SECURITIES  ACT  (AN  "INSTITUTIONAL  ACCREDITED
INVESTOR")) THAT, PRIOR TO SUCH TRANSFER,  FURNISHES THE TRUSTEE A SIGNED LETTER
CONTAINING  CERTAIN  REPRESENTATIONS  AND  AGREEMENTS  (THE FORM OF WHICH CAN BE
OBTAINED  FROM THE TRUSTEE)  AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE
PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000,  AN OPINION OF COUNSEL  ACCEPTABLE
TO THE ISSUER THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT OR (e)
IN ACCORDANCE WITH ANOTHER  EXEMPTION FROM THE REGISTRATION  REQUIREMENTS OF THE
SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS),
(2) TO THE ISSUER OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN
EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES OR ANY OTHER APPLICABLE  JURISDICTION AND (B) THE HOLDER WILL, AND
EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT
OF THE RESALE RESTRICTIONS SET FORTH IN (A) ABOVE.

[Regulation S Temporary Global Note Legend]

THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S.  SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR
THE  ACCOUNT OR BENEFIT OF, ANY U.S.  PERSON  EXCEPT  PURSUANT  TO AN  AVAILABLE
EXEMPTION  FROM THE  REGISTRATION  REQUIREMENTS  OF THE  SECURITIES  ACT AND ALL
APPLICABLE  STATE  SECURITIES  LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO
THEM IN REGULATION S UNDER THE SECURITIES ACT.

                                       2
<PAGE>

                                                                  CUSIP [      ]
                                                                  ISIN [    ](1)

                      [RULE 144A][REGULATION S] GLOBAL NOTE
                               representing up to
                                  $250,000,000

No. ___                                                        [$______________]

                          BAUBLE ACQUISITION SUB, INC.

promises to pay to Cede & Co., or  registered  assigns,  the  principal sum [set
forth on the Schedule of  Exchanges  of  Interests  in the Global Note  attached
hereto] [of ________________________ United States Dollars] on June 1, 2015.

Interest Payment Dates: June 1 and December 1, commencing December 1, 2007

Record Dates: May 15 and November 15

                            [SIGNATURE PAGE FOLLOWS]

----------
(1)   144A CUSIP: 179584 AA5
      144A ISIN: US179584AA53
      Regulation S CUSIP: U17926 AA1
      Regulation S ISIN: USU17926AA14

                                        3
<PAGE>

                   IN WITNESS  HEREOF,  the Issuer has caused this instrument to
be duly executed.

Dated:  __________________

                                                    BAUBLE ACQUISITION SUB, INC.

                                                    By:
                                                       -------------------------
                                                       Name:
                                                       Title:

                                       4
<PAGE>

This is one of the Notes referred to in the within-mentioned Indenture:

                                                    THE BANK OF NEW YORK,
                                                    as Trustee

                                                    By:
                                                       -------------------------
                                                          Authorized Signatory

                                       5
<PAGE>

                                [REVERSE OF NOTE]

                          BAUBLE ACQUISITION SUB, INC.

                           9.25% SENIOR NOTES DUE 2015

      Capitalized  terms used herein shall have the meanings assigned to them in
the Indenture referred to below unless otherwise indicated.

      1. INTEREST. Bauble Acquisition Sub, Inc., a Florida corporation (the
"Issuer"), promises to pay interest on the principal amount of this Note at a
rate per annum of 9.25% from May 29, 2007 until maturity and to pay the
Additional Interest, if any, payable pursuant to the Registration Rights
Agreement referred to below. The Issuer will pay interest on this Note
semi-annually in arrears on June 1 and December 1 of each year commencing on
December 1, 2007, or if any such day is not a Business Day, on the next
succeeding Business Day (each, an "Interest Payment Date"). The Issuer will make
each interest payment to the Holder of record of this Note on the immediately
preceding May 15 and November 15 (each, a "Record Date"). Interest on this Note
will accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from and including May 29, 2007. The Issuer will pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on
demand at the rate borne by this Note; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace periods) from
time to time on demand at the rate borne by this Note. Interest will be computed
on the basis of a 360-day year comprised of twelve 30-day months.

      2. METHOD OF PAYMENT. The Issuer will pay interest on this Note to the
Person who is the registered Holder of this Note at the close of business on May
15 or November 15 (whether or not a Business Day), as the case may be, next
preceding the Interest Payment Date, even if this Note is canceled after such
record date and on or before such Interest Payment Date, except as provided in
Section 2.12 of the Indenture with respect to defaulted interest. Payment of
interest may be made by check mailed to the Holders at their addresses set forth
in the Note Register; provided that (a) all payments of principal, premium, if
any, and interest on, Notes represented by Global Notes registered in the name
of or held by DTC or its nominee will be made by wire transfer of immediately
available funds to the accounts specified by the Holder or Holders thereof and
(b) all payments of principal, premium, if any, and interest with respect to
certificated Notes will be made by wire transfer to a U.S. dollar account
maintained by the payee with a bank in the United States if such Holder elects
payment by wire transfer by giving written notice to the Trustee or the Paying
Agent to such effect designating such account no later than 30 days immediately
preceding the relevant due date for payment (or such other date as the Trustee
may accept in its discretion). Such payment shall be in such coin or currency of
the United States of America as at the time of payment is legal tender for
payment of public and private debts.

      3. PAYING AGENT AND REGISTRAR. Initially, The Bank of New York, the
Trustee under the Indenture, will act as Paying Agent and Registrar. The Issuer
may change

                                       6
<PAGE>

any Paying Agent or Registrar without notice to the Holders. The Issuer or any
of its Subsidiaries may act in any such capacity.

      4. INDENTURE. The Issuer issued the Notes under an Indenture, dated as of
May 29, 2007 (the "Indenture"), between the Issuer and the Trustee. This Note is
one of a duly authorized issue of notes of the Issuer designated as its 9.25%
Senior Notes due 2015. The Issuer shall be entitled to issue Additional Notes
pursuant to Section 2.01 and 4.09 of the Indenture. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939, as amended (the "Trust Indenture
Act"). The Notes are subject to all such terms, and Holders are referred to the
Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture,
the provisions of the Indenture shall govern and be controlling.

      5. OPTIONAL REDEMPTION.

      (a) Except as described below under clauses 5(b), 5(c) and 5(d) hereof,
the Notes will not be redeemable at the Issuer's option.

      (b) On or after June 1, 2011, the Issuer may redeem the Notes at its
option, in whole at any time or in part from time to time, at the following
redemption prices (expressed as a percentage of principal amount), plus accrued
and unpaid interest and Additional Interest, if any, to the date of redemption
(the "Redemption Date"), if redeemed during the 12-month period commencing on
June 1 of the years set forth below:

      Period                                               Redemption Price
      2011...........................................          104.625%
      2012...........................................          102.313%
      2013 and thereafter............................          100.000%

      (c) Prior to June 1, 2011, the Issuer may redeem the Notes at its option,
in whole at any time or in part from time to time, at a redemption price equal
to 100% of the principal amount of the Notes redeemed plus the Applicable
Premium as of, and accrued and unpaid interest and Additional Interest, if any,
to, the Redemption Date.

      (d) At any time and from time to time on or prior to June 1, 2010, the
Issuer may redeem in the aggregate up to 35% of the original aggregate principal
amount of the Notes (calculated after giving effect to any issuance of
Additional Notes) with the net cash proceeds of one or more Equity Offerings (1)
by the Issuer or (2) by any direct or indirect parent of the Issuer, in each
case to the extent the net cash proceeds thereof are contributed to the common
equity capital of the Issuer or used to purchase Capital Stock (other than
Disqualified Stock) of the Issuer from it, at a redemption price (expressed as a
percentage of principal amount thereof) of 109.25%, plus accrued and unpaid
interest and Additional Interest, if any, to the Redemption Date (subject to the
right of Holders of record on the relevant record date to receive interest due
on the relevant Interest Payment Date); provided, however, that at least 65% of
the original aggregate principal amount of the Notes (calculated after giving
effect to any issuance of Additional Notes) must remain outstanding after each
such redemption; provided, further, that

                                       7
<PAGE>

such redemption shall occur within 90 days after the date on which any such
Equity Offering is consummated.

      (e) Any redemption pursuant to this paragraph 5 shall be made pursuant to
the provisions of Sections 3.01 through 3.06 of the Indenture.

      6. MANDATORY REDEMPTION. The Issuer shall not be required to make
mandatory redemption or sinking fund payments with respect to the Notes.

      7. NOTICE OF REDEMPTION. Subject to Section 3.03 of the Indenture, notice
of redemption will be mailed by first-class mail at least 30 days but not more
than 60 days before the redemption date (except that redemption notices may be
mailed more than 60 days prior to a redemption date if the notice is issued in
connection with Article VIII or Article XI of the Indenture) to each Holder
whose Notes are to be redeemed at its registered address. Notes in denominations
larger than $2,000 may be redeemed in part but only in whole multiples of
$1,000, unless all of the Notes held by a Holder are to be redeemed. On and
after the Redemption Date, interest ceases to accrue on this Note or portions
thereof called for redemption.

      8. OFFERS TO REPURCHASE. Upon the occurrence of a Change of Control, the
Issuer shall make a Change of Control Offer in accordance with Section 4.13 of
the Indenture. In connection with certain Asset Sales, the Issuer shall make an
Asset Sale Offer as and when provided in accordance with Section 4.10 of the
Indenture.

      9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form
without coupons in denominations of $2,000 and integral multiples of $1,000
thereafter. The transfer of Notes may be registered and Notes may be exchanged
as provided in the Indenture. The Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Issuer may require a Holder to pay any taxes and fees required
by law or permitted by the Indenture. The Issuer need not exchange or register
the transfer of any Note or portion of a Note selected for redemption, except
for the unredeemed portion of any Note being redeemed in part. Also, the Issuer
need not exchange or register the transfer of any Notes for a period of 15 days
before a selection of Notes to be redeemed.

      10. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated
as its owner for all purposes.

      11. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Guarantees or the
Notes may be amended or supplemented as provided in the Indenture.

      12. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are
defined in Section 6.01 of the Indenture. If any Event of Default occurs and is
continuing, the Trustee or the Holders of at least 30% in principal amount of
the then outstanding Notes may declare the principal, premium, if any, interest
and any other monetary obligations on all the then outstanding Notes to be due
and payable immediately. Notwithstanding the foregoing, in the case of an Event
of Default arising from certain events of bankruptcy or insolvency, all
outstanding Notes will become due and payable immediately without further

                                       8
<PAGE>

action or notice. Holders may not enforce the Indenture, the Notes or the
Guarantees except as provided in the Indenture. Subject to certain limitations,
Holders of a majority in aggregate principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power. The Trustee
may withhold from Holders of the Notes notice of any continuing Default (except
a Default relating to the payment of principal, premium, if any, or interest) if
it determines that withholding notice is in their interest. The Holders of a
majority in aggregate principal amount of the Notes then outstanding by notice
to the Trustee may on behalf of the Holders of all of the Notes waive any
existing Default or and its consequences under the Indenture except a continuing
Default in payment of the principal of, premium, if any, or interest on, any of
the Notes held by a non-consenting Holder. The Issuer is required to deliver to
the Trustee annually a statement regarding compliance with the Indenture, and
the Issuer is required, after becoming aware of any Default, to deliver to the
Trustee a statement specifying such Default and what action the Issuer proposes
to take with respect thereto.

      13. AUTHENTICATION. This Note shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose until authenticated by
the manual signature of the Trustee or an authentication agent.

      14. TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services
for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its
Affiliates, as if it were not the Trustee.

      15. NO RECOURSE AGAINST OTHERS. No director, officer, employee,
incorporator or stockholder of the Issuer or any Guarantor, as such, will have
any liability for any obligations of the Issuer or the Guarantors under the
Notes, the Indenture, the Guarantees or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. The waiver and release
are part of the consideration for issuance of the Notes.

      16. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED
DEFINITIVE NOTES. In addition to the rights provided to Holders of Notes under
the Indenture, Holders of Restricted Global Notes and Restricted Definitive
Notes shall have all the rights set forth in the Registration Rights Agreement,
dated as of May 29, 2007, among Claire's Stores, Inc., the Guarantors named
therein and the other parties named on the signature pages thereof (the
"Registration Rights Agreement"), including the right to receive Additional
Interest (as defined in the Registration Rights Agreement).

      17. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE
USED TO CONSTRUE THE INDENTURE, THE NOTES AND THE GUARANTEES.

      18. CUSIP AND ISIN NUMBERS. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Issuer has
caused CUSIP and ISIN numbers to be printed on the Notes and the Trustee may use
CUSIP and ISIN numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on
the Notes or as contained in any notice of redemption and reliance may be placed
only on the other identification numbers placed thereon.

                                       9
<PAGE>

      The Issuer will furnish to any Holder upon written request and without
charge a copy of the Indenture and/or the Registration Rights Agreement.
Requests may be made to the Issuer at the following address:

                              Bauble Acquisition Sub, Inc.
                              c/o Apollo Management, L.P.
                              10250 Constellation Boulevard
                              Suite 2900
                              Los Angeles, California 90067
                              Attention: Lance Milken

                                       10
<PAGE>

                                 ASSIGNMENT FORM

                  To assign this Note, fill in the form below:

      (I) or (we) assign and transfer this Note to: ____________________________
                                                  (Insert assignee's legal name)

________________________________________________________________________________
  (Insert assignee's social security number or taxpayer identification number.)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
              (Print or type assignee's name, address and zip code)

and irrevocably appoint ________________________________________________________
to transfer this Note on the books of the Issuer. The agent may substitute
another to act for him.

Date:  _____________________

                              Your Signature: __________________________________
                                              (Sign exactly as your name appears
                                              on the face of this Note)

                              Signature(s) must be guaranteed by an "eligible
                              guarantor institution" meeting the requirements of
                              the Registrar, which requirements include
                              membership or participation in the Security
                              Transfer Agent Medallion Program ("STAMP") or such
                              other "signature guarantee program" as may be
                              determined by the Registrar in addition to, or in
                              substitution for, STAMP, al in accordance with the
                              Securities Exchange Act of 1934, as amended.

                              _______________________________________
                              Signature Guarantee

                                       11
<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

      If you want to elect to have this Note purchased by the Issuer pursuant to
Section 4.10 or 4.13 of the Indenture, check the appropriate box below:

                      [  ] Section 4.10 [  ] Section 4.13

If you want to elect to have only part of this Note purchased by the Issuer
pursuant to Section 4.10 or Section 4.13 of the Indenture, state the amount you
elect to have purchased:

                                $_______________

Date:  _____________________

                              Your Signature: __________________________________
                                              (Sign exactly as your name appears
                                              on the face of this Note)

                              Tax Identification No.: __________________________

                              Signature(s) must be guaranteed by an "eligible
                              guarantor institution" meeting the requirements of
                              the Registrar, which requirements include
                              membership or participation in the Security
                              Transfer Agent Medallion Program ("STAMP") or such
                              other "signature guarantee program" as may be
                              determined by the Registrar in addition to, or in
                              substitution for, STAMP, al in accordance with the
                              Securities Exchange Act of 1934, as amended.

                              _______________________________________
                              Signature Guarantee

                                       12
<PAGE>

             SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

The following increases or decreases in the principal amount of this Global Note
have been made:

<TABLE>
<CAPTION>
                                               Amount of increase       Principal Amount of        Signature of
                      Amount of decrease         in Principal           this Global Note        authorized officer
     Date of          in Principal Amount        Amount of this           following such          of Trustee or
     Exchange         of this Global Note         Global Note          decrease or increase         Custodian
  --------------     ---------------------   ---------------------   ------------------------  --------------------
  <S>                <C>                     <C>                     <C>                       <C>
</TABLE>

----------
*This schedule should be included only if the Note is issued

                                       13

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