ContractShare Repurchase Agreement • December 17th, 2002 • Talbots Inc • Retail-women's clothing stores
AMENDED SHARE REPURCHASE PROGRAM THIS AGREEMENT is entered into as of October 31, 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, for each month in which Talbots repurchased shares from the public shareholders, Talbots 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, with the only exception being the $50 million share repurchase program established by the Company in October 2001 in which AEON USA did not participate; and WHEREAS, Talbots has completed the most recent share repurchase program and the Board of Directors of Talbots believes that it is i
