ContractShare Repurchase • August 1st, 2002 • Talbots Inc • Retail-women's clothing stores
AMENDED SHARE REPURCHASE PROGRAM THIS AGREEMENT is entered into as of July 23, 2002 between THE TALBOTS, INC., a Delaware corporation (“Talbots”) and AEON (U.S.A.), INC., a Delaware corporation (“AEON USA”). WHEREAS, Talbots originally initiated its share repurchase program in February 1995 and subsequently extended such program from time to time up to the date hereof; and WHEREAS, as part of the share repurchase program, except for the most recent extension to the share repurchase program, for each month in which Talbots has repurchased shares from the public shareholders, Talbots has then repurchased such numbers of shares of Common Stock from AEON USA sufficient to maintain substantially the same percentage ownership in Talbots between AEON USA and the public shareholders; and WHEREAS, Talbots has completed the most recent share repurchase program and the Board of Directors of Talbots believes that it is in the best interest of Talbots and its shareholders to amend the share repurch
