LICENSE AGREEMENTLicense Agreement • December 24th, 2008 • Cpi Corp • Services-personal services • Illinois
THIS LICENSE AGREEMENT (hereinafter referred to as “Agreement”) is entered into as of the 1st day of January, 2009 (the “Commencement Date”), by SEARS, ROEBUCK AND CO., a New York corporation (“Sears”), CONSUMER PROGRAMS INCORPORATED, a Missouri corporation (“Licensee”), and CPI CORP., a Delaware corporation (“CPI”).
CPI CORP. LETTERHEAD December 19, 2008License Agreement • December 24th, 2008 • Cpi Corp • Services-personal services
Amendment No. 7 to the License Agreement, dated as of August 11, 2003 (“Amendment No. 7”), amended the License Agreement to provide for an adjustment to the Earned Commissions payable by Licensee to Sears. The parties are entering into this letter agreement (i) to resolve all amounts owed with respect to the adjustment provision to Earned Commissions set forth under paragraph (B)(2) to Exhibit C to the License Agreement and in settlement of certain other obligations under the License Agreement and (ii) in connection. with the parties’ entry into a new License Agreement, dated as of January 1, 2009, by and among Sears, Licensee and CPI Corp. (the “Company”), which was executed on the date hereof (the “Renewal Agreement”).
