Document:

EXHIBIT 10.2.6

 

***Informal Translation - For Information
Purposes Only***

 

PLEDGE
AGREEMENT OVER STOCK

 

 

DATED 31 AUGUST 2005

 

BETWEEN

 

Artois Plasturgie SAS

 

And

 

Samsonite Europe NV

 

Samsonite SAS

 

 

LEXENS

128, Boulevard Haussmann

75008 Paris

 

 

This stock pledge agreement (the
“Stock Pledge Agreement”) is dated 31 August 2005,

 

BETWEEN:

 

1.     Artois Plasturgie, a company with limited liability (société par actions simplifiée), with a share capital of EUR
37,000, having its registered office at 128, Boulevard Haussmann, 75008 Paris,
registered with the commercial register of Paris under number 483 173 308 RCS
Paris, duly represented by Mr Jean Jacques Aurel, in his capacity of chairman,

 

(hereinafter the « Pledgor »),

 

AND:

 

2.             Samsonite, a company with limited liability (société par actions simplifiée), with a share capital of
720,000 €, having its registered offices at 27, rue de la Rochefoucauld, 75009
Paris, registered with the register of commerce and enterprises of Paris under
number 652 024 159 RCS Paris, duly represented by Mr Marc Matton, acting in his
capacity of president,

 

3.             Samsonite Europe NV, a company duly organised and
existing under the laws of Belgium, with a share capital of EUR 3,665,105.76,
having its registered offices at Westerring 17, 9700 Oudenaarde (Belgium),
registered with the commercial register of Oudenaarde under number 16.079,
represented by Mr Marc Matton, duly authorised by the meeting of the board of
directors held on 18 July 2005,

 

(hereinafter jointly referred to as the
« Pledgees »)

 

The Pledgor and the Pledgees are
hereinafter collectively referred to as the “Parties”

 

IN THE
PRESENCE OF:

 

4.            HB Group, a
company duly organised and existing under the laws of Luxembourg, with a share
capital of EUR 31,000, having its registered office at rue de l’Industrie L-3895
FOETZ (Luxembourg), registered with the commercial register of Luxembourg under
the number B109972, represented by Mr Jean Jacques Aurel, in his capacity of
director, duly authorised by a meeting of the board of directors of the company
dated 26 August 2005

 

(hereinafter the “Transferee”)

 

2

 

WHEREAS:

 

1.             Until the Effective Date, Samsonite
was the owner of and operated on the Site a business consisting of the
fabrication and manufacture of luggage and plastic products under the name
«SIC ».

 

2.             As a result of economic difficulties
of the Activities, and so as to avoid a hold of the Activities and the closure
of the Site, Samsonite SAS has transferred the Activities to the Pledgor, in
the context of a partial asset contribution. This transaction requires the
execution of various agreements granting, amongst others, security interests
and guarantees for the benefit of Samsonite SAS and Samsonite Europe NV,
including a Stock Pledge Agreement.

 

3.             By means of this agreement the
parties have agreed on the terms and conditions of the pledge over stock. This
Stock Pledge Agreement is a condition precedent to the transaction referred to
above.

 

IT HAS
BEEN AGREED AS FOLLOWS:

 

1.     DEFINITIONS AND
INTERPRETATION

 

1.1           Definitions

 

Capitalised terms shall have the same meaning as defined in the Agreement
(as defined below) or in this Stock Pledge Agreement:

 

	
  Agreement

  	
   

  	
  The transfer agreement
  for the shares of the Company and the subordinated debts, resulting in the
  take-over of the Hénin-Beaumont Site signed on 29 July 2005 between the
  Parties, as amended by the Appendix.

  
	
   

  	
   

  	
   

  
	
  Debtors

  	
   

  	
  The Pledgor and the
  Transferee.

  
	
   

  	
   

  	
   

  
	
  Event of Default

  	
   

  	
  The breach, failure or
  default of the Pledgor or the Transferee of any or all of its obligations
  under the Agreement or any Related Agreement, notified by registered mail
  with acknowledgement of receipt or by extra-judicial act.

  
	
   

  	
   

  	
   

  
	
  Proxy Holder

  	
   

  	
  Mr. Christian Bègue
  acting in the capacity of proxy holder for the Pledgees in order to ensure
  the due dispossession of the Pledged Stock.

  
	
   

  	
   

  	
   

  
	
  Pledge

  	
   

  	
  The pledge over the
  Pledged Stock created in accordance with article 2 of this Stock Pledge
  Agreement.

  

 

3

 

	
  Pledged Stock

  	
   

  	
  The stock of raw
  materials, accessories and parts belonging to the Pledgor, located in the
  silos on the Site or in bags in the designated warehouses.

  
	
   

  	
   

  	
   

  
	
  Pledgees

  	
   

  	
  Samsonite Europe NV and
  Samsonite SAS

  
	
   

  	
   

  	
   

  
	
  Representative of the
  Pledgees

  	
   

  	
  Samsonite Europe NV

  
	
   

  	
   

  	
   

  
	
  Secured Obligations

  	
   

  	
  All debts and obligations
  of the Pledgor vis-à-vis the Pledgees (or any one of them), present and
  future (whether actual or contingent, jointly or severally) resulting from
  the Agreement and the Related Agreements including all cost, charges and
  expenses incurred by any Pledgee as regards the preservation, protection or
  the enforcement of its rights.

  
	
   

  	
   

  	
   

  
	
  Stock Pledge Agreement

  	
   

  	
  This stock pledge
  agreement over raw materials,including its annexes as may be amended,
  modified, completed or restated from time to time.

  

 

1.2           Interpretation

 

In this Stock Pledge Agreement, unless
otherwise stipulated :

 

(i)            references made to an article are
references to an article of this Stock Pledge Agreement;

 

(ii)           references made to any provisions of the law are references to such
provisions of the law, as applied, modified or coordinated and include any
provisions arising therefrom;

 

(iii)          references to words mentioned in plural include the singular form and vice versa;

 

(iv)          references to a person include a reference to their successors,
assignees and transferees;

 

(v)           the headings in this Stock Pledge Agreement are used for ease of
reference and are not to be considered in interpreting this Stock Pledge
Agreement;

 

(vi)          references to any other agreement or document are to be interpreted as
applicable to such other agreement or document as amended, supplemented,
restated or novated from time to time.

 

2.     PLEDGE

 

2.1           In order to guarantee the payment
and the fulfilment of the Secured Obligations, the Pledgor hereby pledges to
the Pledgees, in accordance with the provisions of article

 

4

 

2071 et
seq. of the French Civil Code and article L.521-1 of the French Commercial
Code, its rights, titles and interests, present or future, with regard to the
Pledged Stock.

 

2.2           All the rights of the Pledgor with
regard to the Pledged Stock shall automatically be subject to this Pledge.

 

2.3           The Pledged Stock shall be placed in
the hands of the Pledgees, acting through and represented by the Proxy Holder
to hold the Pledged Stock on the Site and not to release such stock other than
under the conditions set out in the mandate empowering the Proxy Holder.

 

All the
information regarding the Proxy Holder and the scope of the mandate shall be
included in the mandate to be agreed upon between the Proxy Holder and the
Pledgees. The Pledgor undertakes not to interfere with the mandate of the Proxy
Holder or the possession of the Pledged Stock by the Pledgees, represented by
the Proxy Holder, regardless of whether the Proxy Holder is also an employee of
or paid by the Pledgor. It shall be stipulated that the mandate of the Proxy
Holder will be detached and perfectly independent from its capacity as employee
of the Pledgor or as someone receiving payment therefrom.  The Pledgor shall not be liable for any
breach committed by the Proxy Holder in the execution of its mandate. The
dispossession shall be perfected by Samsonite at its own liability. Samsonite
will see to it at all times that these measures will not hinder the going
concern of the Site, and will be liable to that effect.

 

3.     PRESERVATION OF SECURITY

 

3.1           Continuing Security

 

The
pledge created by this Stock Pledge Agreement shall continue in full force and
effect until all Secured Obligations have been performed in full and definitive
manner, notwithstanding all intermediary payments or discharge in part or in
total.

 

3.2           Additional Pledge

 

This
Pledge is established in addition to, and is in no way affected by, all other
security interests, present or future, established in favour of the Pledgees in
order to secure the Secured Obligations.

 

4.     RELEASE OF THE PLEDGED RAW
MATERIALS

 

The
Pledgor may request that the Proxy Holder, acting for and in the name of the
Representative of the Pledgees, make available the necessary quantities of raw
materials, accessories and Pledged Stock for the manufacture of the Products in
accordance with the Products Manufacturing Agreement and its other
manufacturing activities.

 

5

 

5.     REPRESENTATIONS

 

5.1           Representations and
Warranties

 

At the
date of this Stock Pledge Agreement, the Pledgor repeats the representations
and warranties made in the Agreement and in the Products Manufacturing
Agreement and further declares and guarantees, amongst others, to the Pledgees
that:

 

(a)       each obligation of the Pledgor under
this Stock Pledge Agreement constitutes a legal, valid and binding obligation,
in accordance with its terms;

 

(b)       it has a valid title to, and will
remain the owner of, the Pledged Stock;

 

(c)       on the basis of the draft Stock
Pledge Agreement, the general meeting of shareholders of the Pledgor has
approved the terms and conditions of this Stock Pledge Agreement in accordance
with the articles of association of the Company;

 

(d)       the Pledged Stock is free of any
other security interest which may affect the rights of the Pledgees resulting
from this Stock Pledge Agreement or otherwise affect the value of this Pledge
other than as a result of the application of, or expressly allowed by and in
accordance with the terms of this Stock Pledge Agreement and the Agreement;

 

(e)       no agreement exists at this point in
time under which the Pledgor has undertaken to transfer, delegate or to create
a security interest over the Pledged Stock for the benefit of any other person
or entity other than the Pledgees.

 

5.2           Repetition of
representations and warranties

 

The
representations and warranties set out in Article 5 are made at the date
of this Stock Pledge Agreement and are deemed to be repeated at each date
within the Guarantee Period as indicated in the Products Manufacturing
Agreement with reference to costs and circumstances existing at that point in
time.

 

5.3           Undertakings

 

The
Pledgor undertakes for the benefit of the Pledgees, during the Guarantee
Period,; that:

 

(a)           it shall not hand over, transfer or
otherwise dispose of the Pledged Stock or any of its rights and interests in
the Pledged Stock to any party other than the Pledgees;

 

(b)           it shall not allow a security
interest to exist over the Pledged Stock other than the security interest
created pursuant to this Stock Pledge Agreement;

 

(c)           it shall take all action and make
available all documents required by the Pledgees, in order to prove or perfect
the pledge created by this Stock Pledge Agreement or to

 

6

 

allow
the Pledgees to exercise their rights, actions and privileges created pursuant
to this Stock Pledge Agreement;

 

(d)           it shall provide, upon first demand,
to the Pledgees all information, reports and documents with regard to the
Pledged Stock which the Pledgees may demand from time to time during the term
of this Stock Pledge Agreement; and

 

(e)           it shall immediately inform the
Pledgees of any seizure or other conservatory measure taken with regard to the
Pledged Stock.

 

6.                         ADDITIONAL GUARANTEES

 

The
Pledgor shall take all reasonable measures requested by the Representative of
the Pledgees to protect the security interest created by this Stock Pledge
Agreement, to facilitate the execution by the Representative of the Pledgees
(or any of its proxy holders) of the rights over the Pledged Stock, including
the signing of any document transferring, assigning or insuring any property
for the benefit of the Representative of the Pledgees (or any of its proxy
holders), and the notification of any instruction and registration which the
Representative of the Pledgees may find useful.

 

7.                         ENFORCEMENT

 

7.1   Until discharge of this Stock Pledge
Agreement, and apart from the provisions of article 4 above, the Pledgor
will not have the right to use the Stock or any element of the Stock.

 

7.2   Following an Event of Default, the
Representative of the Pledgees, acting upon the instructions of the Pledgees
will have the right to exercise all rights, privileges and powers, as well as all
authority which it has with respect to the Pledged Stock, in satisfaction of
the Secured Obligations, in accordance with French law and the Agreement and
specifically the right to execute the Pledge and demand the appropriation of
the Pledged Stock in accordance with article 2078 of the French Civil
Code, or the sale of the Pledged Stock in accordance with article L.521-3
of the Commercial Code.

 

8.             COSTS

 

The
costs of the dispossession of the Pledged Stock, the costs of enforcement of
this Stock Pledge Agreement and the costs of the Proxy Holder shall be borne by
the Pledgees.  Following an Event of
Default, all reasonable expenses (including legal fees) incurred by the
Representative of the Pledgees as a result of the enforcement of its rights
shall be borne by the Pledgor.

 

Neither
the Representative of the Pledgees, nor any other person mandated by the
Representative of the Pledgees shall have the right to be compensated for any
event attributable to the Representative of the Pledgees or resulting from its
wilful default or gross negligence.

 

7

 

9.             DELEGATION

 

9.1                           The Representative of the Pledgees
or any person designated by the latter, may, after having informed the Pledgor
in writing in advance, at any time delegate to any other competent person(s) or
parties, by means of a mandate contract or by any other means, part or all of
its powers which can be exercised at that time by the Representative of the
Pledgees, according to the terms of this Stock Pledge Agreement and relating to
all or part of the Pledge or the Pledged Stock.

 

9.2                           This delegation of powers may occur
in accordance with the terms as set out below (including the power to
sub-delegate) as well as in accordance with all regulations which the
Representative of the Pledgees or any other designated person(s) may deem to be
appropriate.

 

9.3                           The Representative of the Pledgees
or any other designated person(s) shall in no way be responsible to the Pledgor
for any loss or damage resulting from any act, default, omission or breach of
any such delegated person or sub-delegate person with the exception of wilful
default or gross negligence.

 

10.    MANDATE

 

10.1                         Nomination

 

In
order to fully guarantee the execution of the obligations arising from this Stock
Pledge Agreement, the Pledgor irrevocably appoints the Representative of the
Pledgees or any other representative which the Representative of the Pledgees
may designate, as its proxy holder to act on its behalf and in its name to take
all measures and complete all acts which the Pledgor is obliged to perform in
the event that such measures are not taken.

 

10.2                         Ratification

 

The
Pledgor hereby ratifies and confirms, and undertakes to ratify and to confirm,
any action which a proxy holder may undertake on the basis of article 10.1
in exercising the powers referred to in the paragraph above.

 

11.    STAMP DUTIES

 

The
costs, taxes and stamp duties related to the registration of this Stock Pledge
Agreement, if required by the Pledgees, shall be borne by the Pledgees.

 

12.  SUCCESSORS AND ASSIGNEES

 

12.1                         All the rights, privileges and options of the
Pledgees shall exist for the benefit of their successors and designated
transferees.

 

8

 

12.2                         All the provisions, conditions,
representations, warranties and obligations of the Pledgor arising under this
Stock Pledge Agreement shall be similarly binding on their successors and
assignees, it being understood and agreed that:

 

(a)    the Pledgor may not assign,
transfer, consent to the novation or otherwise dispose of any or all of its
rights and/or obligations under this Stock Pledge Agreement without the prior
written consent of the Representative of the Pledgees;  and

 

(b)   the Representative of the Pledgees
acting in its own name or for the benefit of each Pledgee may assign, transfer,
consent to the novation or otherwise dispose of any or all rights and/or
obligations under this Stock Pledge Agreement to Third Parties.

 

12.3                         In the event of an assignment, transfer,
novation or dispossession by the Representative of the Pledgees of all or part
of its rights and obligations for the benefit of a Pledgee, the latter
expressly reserves the rights and privileges which it enjoys as a result of
this Stock Pledge Agreement with respect to its transferees or, as the case may
be, its assignees, in accordance with article 1278 of the French Civil
Code.

 

13.          WAIVER

 

13.1         The rights of the Representative of the
Pledgees under this Stock Pledge Agreement:

 

(a)           may be exercised as often as necessary,

 

(b)           are cumulative and in addition to
all other rights and rights of recourse; 
and

 

(c)           may not be waived without a specific
written waiver.

 

13.2         Any delay or failure to exercise any or all of these rights will not
constitute a waiver of such rights.

 

14.          SEVERABILITY

 

If any of the provisions of this
Stock Pledge Agreement should become, or be declared, unenforceable, null,
invalid or without effect in any jurisdiction with regard to the Pledgor, this
will not affect:

 

(a)           with regard to the Pledgor, the
enforceability or the validity in such jurisdiction of any other provisions of
this Stock Pledge Agreement; or

 

(b)           with regard to the Pledgor, the
enforceability or the validity in any other jurisdiction of any other provision
of this Stock Pledge Agreement.

 

9

 

15.          UNDERTAKING TO RELEASE

 

Upon the expiry of the Guarantee
Period, the Representative of the Pledgees will execute a release agreement
releasing and discharging the Pledgor of all of its obligations and
responsibilities under this Stock Pledge Agreement.

 

16.          APPLICABLE LAW AND CHOICE
OF FORUM

 

Any disputes concerning the
entry into, execution and/or interpretation of this Stock Pledge Agreement will
be resolved in accordance with French law.

 

Any dispute concerning the entry
into, execution and/or interpretation of this Stock Pledge Agreement shall be
submitted in the first instance to the jurisdiction of the Commercial Court of
Paris.

 

17.          NOTICES

 

All notices and/or other
communications by or between the Seller, Transferor and the Purchaser shall be
effected by means of registered mail with evidence of receipt or by means of a
letter delivered in person and signed for by the recipient or by extra-judicial
act to the addresses and persons mentioned hereafter or any other address or
person notified using the means described in this article.

 

For the Pledgees:

 

SAMSONITE
FRANCE SAS

Mr. Marc Matton

27, rue de la
Rochefoucauld

75009 Paris

 

With copy to:

 

Mr. Frédéric Boucly

LEXENS

128, Boulevard
Haussmann

75008 Paris

 

SAMSONITE EUROPE NV

Mr. Marc Matton

Westerring 17,

9700 Oudenaarde

 

With copy to:

 

Mr. Frédéric Boucly

Lexens

128, Boulevard Haussmann

75008 Paris

 

10

 

For the Pledgor:

 

Mr. Jean-Jacques Aurel

Rue de l’Industrie
L-3895 FOETZ

 

With copy to:

Fauvet La
Giraudiére et Associés

Avocats à la Cour

92 avenue d’Iéna

75008 Paris

 

And with copy to:

 

HB Group

Mr. Jean-Jacques Aurel

Rue de l’Industrie
L-3895 FOETZ

 

With copy to:

Fauvet La
Giraudiére et Associés

Avocats à la Cour

92 avenue d’Iéna

75008 Paris

 

11

 

Paris

 

Dated 31 August 2005

 

In 6 original copies

 

 

	
  /s/ Marc Matton

  	
   

  	
  s/s Jean
  Jacques Aurel

  	
   

  
	
  Samsonite
  Europe NV

  	
  Artois Plasturgie SAS

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Marc Matton

  	
   

  	
  s/s Jean
  Jacques Aurel

  	
   

  
	
  Samsonite
  SAS

  	
  HB Group

  

 

12EXHIBIT 10.2.7

 

Support
Agreement

 

 

Dated
31 August  2005

 

Between

 

 

Samsonite
Europe NV

 

Samsonite

 

Artois
Plasturgie SAS

 

HB
Group

 

 

LEXENS

128,
Boulevard Haussmann

75008
Paris

 

 

This
support agreement (the « Support Agreement »)
is dated 31 August 2005,

 

BETWEEN:

 

1.      SAMSONITE EUROPE NV, a
Belgian company, with a share capital of EUR 3,665,105.76, having its
registered office at Westerring 17, 9700 Oudenaarde (Belgium), registered with
the commercial register of Oudenaarde under number 16.079, represented by Mr
Marc Matton, duly authorised by the meeting of the board of directors on 18 July 2005,

 

(hereafter referred to as “Service Provider”),

 

AND:

 

2.      ARTOIS PLASTURGIE, a company
with limited liability (société par actions
simplifiée), with a share capital of EUR 37,000, having its
registered office at 128, Boulevard Haussmann, 75008 Paris, registered with the
commercial register of Paris under number 483 173 308 RCS Paris, duly
represented by Mr Jean-Jacques Aurel, in his capacity of chairman,

 

(hereafter referred to as “Beneficiary”),

 

3.      SAMSONITE, a
company with limited liability (société par actions
simplifiée), with a share capital of EUR 720.000, having its
registered office at 27, rue de la Rochefoucauld, 75009 Paris, registered with
the commercial register of Paris under number 652 024 159 RCS Paris,
duly represented by Mr Marc Matton, in his capacity of chairman,

 

(hereafter referred to as “Samsonite
SAS”),

 

4.      HB Group, a Luxembourg
limited liability company, with a share capital of EUR 31,000 , having its
registered office at rue de l’Industrie L-3895 FOETZ (Luxembourg), registered
with the commercial register of Luxembourg under number B 109972, represented
by Mr Jean-Jacques Aurel, duly authorised pursuant to a meeting of the board of
directors of the company on 26 August 2005

 

(hereafter referred to as the “Purchaser” or “HB Group”).

 

The
Service Provider, the Beneficiary, Samsonite SAS and the Purchaser are
hereinafter collectively referred to as the “Parties”.

 

2

 

WHEREAS :

 

1.             Samsonite
was the owner of and operated, up and until the Effective Date, on the Site, a
business consisting of the fabrication and manufacture of luggage and plastic
products known under the name “SIC”.  In
the framework of these operations, Samsonite benefited from the performance by
the Service Provider of certain services for the management of its IT system
and development support for its SIC products.

 

2.             As a result of economic difficulties
experienced in the Activities and so as to avoid the hold of the Activities and
the closure of the Site, Samsonite has proceeded with the transfer of the
Activities in the framework of a partial contribution of assets.

 

3.             The Purchaser and the Beneficiary wish that the
Service Provider continues to provide certain IT services and development
support allowing them to set up their own information services providers or
external service providers. In the same manner, the Beneficiary wishes to
benefit from the Service Provider’s know-how and experience in the fabrication
of moulds of the photovoltaic panels in the framework of its industrial
project.

 

4.             Samsonite wishes to benefit from the service
and advice of the human resources service of the Site and in particular with
respect to one employee whose labour contract had been transferred together
with the Activities following the application of articles L 122.12, 2nd
paragraph of the Labour Code.

 

5.             The Beneficiary and the Purchaser are well
informed as to the limits of the services and the means, technical and human,
of the Service Provider, who is not a professional in information technology or
communication networks and is himself dependent on information service
providers and external information systems.

 

6.             The Beneficiary and the Purchaser also declare
that they are well informed of the totality of limits of the Internet network,
and more specifically of the absence of any guarantee as to security or
performance, as well as the obligation to observe the legal and regulatory provisions
applying to the Internet.

 

7.             With these reservations, the Service Provider
has accepted that it will continue with the performance of information services
and development support according to the terms and conditions set out in the
Support Agreement.

 

NOW
the PARTIES HAVE AGREED AS FOLLOWS:

 

Article 1 :  Definitions and
Interpretation

 

1.1 Definitions

 

Defined terms shall have the same meaning given to them in the Agreement
or in this Support Agreement :

 

	
  Access
  refers to the service assured by the Service
  Provider allowing the Beneficiary access to the GPAO Software via Internet.

  

 

3

 

	
  Agreement
  refers to the transfer agreement of the shares of
  the Company and the subordinated claims relating to the take-over of the Site
  Hénin-Beaumont executed on 29 July 2005 between the Parties, as amended pursuant
  to the Appendix.

  
	
   

  
	
  Industrial
  Property Rights refers to all industrial or intellectual
  property rights, protected or protectable know-how, data, information,
  databases of the Service Provider, Affiliated Companies or Third Parties
  relating to, in particular, the GPAO Software, rights of reproduction and
  implementation of each of the rights enumerated above, as well as the right
  to dispose of these rights or of similar rights in other countries.

  
	
   

  
	
  Internet
  refers to a whole of interconnected information and
  telecommunications networks, on a global scale, allowing access to the
  content or the services of users through servers.

  
	
   

  
	
  GPAO
  Software refers to the computer-assisted production
  management software named « Page ».

  
	
   

  
	
  Development Services refers to the design of Products realised in the framework of SIC
  Activities (the “SIC Products”),
  the aid or assistance in the design, conception, fine-tuning and the
  fabrication of industrial moulds for the fabrication of SIC Products as well
  as the maintenance of these moulds.

  
	
   

  
	
  Information Services refers to the Access to the GPAO Software as well as the maintenance
  services related to this Access.

  

 

1.2. Interpretation

 

In
the present Support Agreement, unless otherwise provided for:

 

	
  (i)

  	
   

  	
  references
  to an article are references to an article of this Support
  Agreement;

  
	
  (ii)

  	
   

  	
  references
  to a provision of the law are references to such provision as applied,
  modified or codified and include any provisions arising therefrom;

  
	
  (iii)

  	
   

  	
  references
  to words mentioned in plural include references to the singular form and vice versa;

  
	
  (iv)

  	
   

  	
  references
  to a person include references to his successors and assignees;

  
	
  (v)

  	
   

  	
  the
  headings mentioned in this Support Agreement are used for ease of reference
  and are not to be considered in interpreting this Support Agreement;

  

 

Article 2 :  Object of the
Agreement

 

The Service Provider agrees
to provide Information Services to the Beneficiary similar to those that it
provided to Samsonite before the Effective Date, in particular relating to
quality and speed.

 

The duration of the
Information Services is limited to 365 days as from the Effective Date; the
duration of the Development Services is limited to 18 months as from the same
date.

 

The Service Provider agrees
to provide Development Services to the Beneficiary similar to those that it
provided to Samsonite before the Effective Date, in particular relating to
quality and speed.

 

The Service Provider will provide the Information
Services in accordance with his availability.

 

4

 

The Service Provider will provide the Development
Services in accordance with his availability and his competence.  The Service Provider is the sole judge of the
level of competence and qualification required of its personnel in order to
provide the services requested by the Beneficiary.

 

The Beneficiary cannot require the Service Provider to
provide its personnel for more than 240 cumulated hours per month.

 

The Development Services will be invoiced to the
Beneficiary at 50 euros per hour (excluding costs) for the services rendered by
the Service Provider.

 

The Service Provider is required to use its reasonable
endeavours in the framework of the Support Agreement and cannot be held
responsible for the failure or the negligence of external service providers,
for the failure and the disfunction of the GPAO Software or Access
difficulties, or for technical difficulties relating to the technology of
photovoltaic products. The Service Provider does not have any experience
regarding photovoltaic technology or the adaptation of such technology to
plastic supports, and only commits itself up to the strict limit of its knowledge,
competence and know-how of the conception of plastic moulds.

 

Article 3 :  Obligations of
the Beneficiary

 

The Beneficiary commits itself during the entire
duration of the Support Agreement:

 

3.1  To use the GPAO Software in accordance with
the specifications of the manufacturers and the Service Provider.

 

3.2  Not to make copies of the GPAO Software that
are provided to him without the prior written approval of the Service
Provider.  Making copies of the GPAO
Software without the said prior written approval will be considered as an act
of counterfeit, regulated under article L 521-4 of the Intellectual
Property Code.

 

3.3  To provide all means and to answer all the
questions in order to facilitate the performance of the services by the Service
Provider.

 

3.4  To provide free access to the Service
Provider’s technicians of the GPAO Software.

 

3.5  Not to do anything that may, directly or
indirectly, block or slow down the performance of the services or change the
functioning of the GPAO Software or the performance of the Information Services
or the Development Services.

 

3.6  To provide the Service Provider’s technicians
with sufficient memory space to load the test programmes, and all technical
documentation provided by the manufacturer of materials and service products.

 

3.7  To put at the disposal of the intervening
party, free of charge, all the useful supplies to understand the encountered
problem, and more specifically, tapes, strips, paper or other elements.

 

5

 

3.8  To provide a human resources advisory service
to the Service Provider and Samsonite, carried out by Mr Jacques Rousselle
until 30 June 2006, within the limits of 20% of his working time during
that period, in compensation for the free of charge maintenance of the
information links and the Lotus Notes software during the month of September 2005.

 

Article 4 :  Limits and
exclusions

 

4.1  The Service Provider will be freed from its
obligations in the event of the Beneficiary’s failure to fulfil its contractual
obligations, and more specifically in the event of the intervention of a Third
Party or of the Beneficiary in the GPAO Software, the object of the present
Support Agreement.  In such case the
Service Provider will not be responsible.

 

4.2  If the provider of the GPAO Software opposes
the Beneficiary’s use of the GPAO Software, the Service Provider agrees to
negotiate with the said provider in order to allow such use in return for
payment of a reasonable supplementary cost which (in that case) will be paid by
the Beneficiary.

 

Article 5 :  Cooperation of
the Parties

 

5.1  The Beneficiary is well aware that the
Information Services or the Development Services require active and regular
cooperation between the Beneficiary and the Service Provider.

 

5.2  The Beneficiary will appoint a competent
intermediary who will be its representative vis-à-vis the Service Provider.

 

5.3  If, during the performance of this Support
Agreement a difficulty arises, the necessary cooperation between the Parties
requires them to notify one another as soon as possible and to work together in
order to put the most suitable solution in place as soon as possible.

 

5.4  The Beneficiary must provide the intervening
parties with all documents, information and existing elements necessary for a
good understanding of the problem in hand.

 

Article 6 :  Warranties

 

6.1  The Service Provider will use its best
efforts so that the services that are performed on its account in the framework
of the present Support Agreement are accomplished in continuity and according
to the same quality requirements as those provided to Samsonite prior to the
Effective Date.

 

Article 7 :  Responsibilities

 

7.1        The
Service Provider’s responsibility in the framework of this Support Agreement is
limited to the repair of physical and material consequential damages caused by
it or the persons for which it is accountable or by its subcontractors.

 

6

 

The Service Provider will under no
circumstances have any obligations or responsibility for indirect damages, in
particular the Service Provider shall in no way be responsible in relation to
the losses or profits realised by the Beneficiary.

 

Each of the Parties will be held liable for all
monetary consequences arising from its civil liability, for all damages caused
to Third Parties resulting out of their acts, the acts of their personnel or
the goods under their custody, pursuant to the execution of this Support
Agreement.

 

7.2  The
Service Provider cannot be held responsible for the possible degradation of
information, programmes, files, databases, material or products, following the
intervention of the Service Provider, if such damage does not result from a
gross fault of the Service Provider.

 

It is, in this respect, the Beneficiary’s
obligation to take all security measures and to put into place all useful
procedures in this respect, and this before the Service Provider’s intervention
as well as from the time when the GPAO Software is put into operation, by
producing all the security copies necessary thereto.

 

As from the time the tests are completed, the
Beneficiary must deliver all necessary programmes and/or files, without the
Service Provider being responsible for any reason in the event of partial or
complete destruction of these programmes and/or the files.

 

7.3 In any event, if the Service Provider is
held responsible by the court, the Parties agree that any compensation due by
the Service Provider will be limited to the price of the yearly service in
place on the day of the judgment against the Service Provider.

 

Article 8 :  Force Majeure

 

8.1
The Parties’ obligations arising from the present Support Agreement will be
suspended following unforeseen events or force majeure, and in
particular : any act of a civil or military authority, factual or legal,
strikes, fire, riots, interruption or delay of means of transport due to a
Third Party, flooding, water damage, storm, lightning, and, or any other
circumstance having an external cause and prohibiting one of the parties,
directly or through a Third Party, from complying with their contractual
obligations.

 

8.2  Each of the Parties may terminate the present
Agreement without prior notice and by right if the unforeseen event or the
force majeure continues for more than thirty (30) days, by simple notification
by registered letter with acknowledgement of receipt.

 

Article 9 :  Industrial
Property Rights

 

The Beneficiary agrees to
observe and not to impair any of the Industrial Property Rights.  In the same way, the Service Provider and
Samsonite agree to observe and not to impair any of the Beneficiary’s
intellectual or industrial property rights, and specifically regarding “SIC”.

 

7

 

Article 10 :  Confidentiality

 

The Parties shall keep this
Support Agreement in strict confidence from all Third Parties, and will ensure
that their staff and agents comply with the same commitment.

 

This obligation will not
apply if a Party, or an Affiliated Company, is required or ordered to
communicate information or a document relating to the Support Agreement or a
Related Agreement, by an administrative, judicial, legal, regulatory or
financial authority or a stock exchange (notably the NSEC or NASD).

 

Similarly, the Parties may
communicate with their usual bankers, advisors, accountants, auditors, any
information or document relating to the Support Agreement or to a Related
Agreement, the latter being bound by professional confidentiality in relation
to their clients.

 

Article 11 :  Termination

 

11.1  If
one of the parties fails to meet its obligations under the present agreement,
and such failure is not rectified within thirty days as from the registered
letter with acknowledgement of receipt notifying the failures by the other
party, the latter may terminate the Support Agreement by right, subject to the
damages and interests to which it may be entitled under the present Support
Agreement.

 

11.2  If the present Support Agreement is
terminated, it will be liquidated (without reimbursement of the sums received
by the Service Provider) based on the services already rendered.  The Service Provider may request the amicable
termination of the present Agreement from the Beneficiary if, during the
performance of its services, it encounters unforeseeable difficulties, whose
solution would require means out of proportion to the amount due under the
Support Agreement.

 

Article 12 :  Miscellaneous

 

12.1
Entirety of the Agreement

 

The
Support Agreement and the annexes contain all the obligations of the Parties
towards each other.  These documents
constitute the entire agreement between the Parties and replace and cancel all
propositions or commitments, written or verbal, prior thereto and all other
communications between the Parties relating to the Support Agreement.

 

12.2
Subcontracting

 

The Service Provider may subcontract the entirety
or parts of the services being the object of this agreement, without the
Beneficiary’s prior agreement.

 

12.3
Transfer of the
Agreement

 

The
Beneficiary cannot transfer the Support Agreement in whole or in part, for free
or in return for payment, without the written agreement of the other party.

 

8

 

12.4
Partial invalidity

 

If
any of the provisions of the Support Agreement is declared to be invalid or
void following a legal ruling or a judicial decision that becomes final, such
provision will be considered as struck out, but the other stipulations will
remain fully effective.

 

12.5
Applicable law and
competent courts

 

Any
litigation relating to the conclusion, performance and/or interpretation of the
Support Agreement will be resolved in accordance with French law.

 

Any
litigation relating to the conclusion, performance and/or interpretation of the
Support Agreement will initially be submitted to the jurisdiction of the
Commercial Court of Paris.

 

12.6
Notices

 

All
notices and other communications made or sent between the Service Provider,
Beneficiary, Samsonite and Purchaser shall be effected by registered mail with
acknowledgement of receipt or by letter handed over in person and countersigned
as acknowledgement of receipt by the addressee or by extra-judicial act (acte extrajudiciaire) to the addresses and persons mentioned
hereafter or to any other address or person notified using the means described
in the present article.

 

For the Service Provider:

 

Samsonite
Europe NV

Mr
Marc Matton

Westerring 17,

9700 Oudenaarde

Belgium

 

With copy to:

 

Mr Frédéric Boucly

Lexens

128, Boulevard Haussmann

75008 Paris

 

For the Beneficiary:

 

Mr
Jean-Jacques AUREL

At the Beneficiary’s seat

 

With copy to:

Fauvet La Giraudière & Associés

Avocats
à la Cour

92
avenue d’Iéna

75008
Paris

 

9

 

For
Samsonite

Mr
Marc Matton

27, rue de la Rochefoucauld

75009 Paris

 

With copy to:

 

Mr Frédéric Boucly

Lexens

128, Boulevard Haussmann

75008 Paris

 

For
the Purchaser:

 

Mr Jean-Jacques AUREL

HB Group

Rue de l’Industrie

L-3895 Foetz

 

With copy to:

Fauvet La Giraudière & Associés

Avocats
à la Cour

92
avenue d’Iéna

75008
Paris

 

Made in PARIS

 

On 31 August 2005

 

In 4 original copies

 

 

	
  /s/ Marc Matton

  	
   

  	
    s/s Jean Jacques Aurel

  	
   

  
	
  Samsonite

  	
  Artois Plasturgie

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Marc Matton

  	
   

  	
    s/s Jean Jacques Aurel

  	
   

  
	
  Samsonite Europe NV

  	
  HB Group

  
						

 

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]