0000889812-99-002102 Sample Contracts

GUARANTEE
Guarantee • July 12th, 1999 • Cpi Corp • Services-personal services

Concurrently herewith CPI Corp. ("CPI") is entering into an Agreement and Plan of Merger dated the date hereof (the "Agreement") with SPS International Holdings, Inc., a Delaware corporation ("Parent"), and SPS Acquisition, Inc., a Delaware corporation. Capitalized terms in this letter shall have the meaning ascribed thereto in the Agreement.

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