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<SEC-DOCUMENT>0000910680-09-000559.txt : 20091202
<SEC-HEADER>0000910680-09-000559.hdr.sgml : 20091202
<ACCEPTANCE-DATETIME>20091202154959
ACCESSION NUMBER:		0000910680-09-000559
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091201
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091202
DATE AS OF CHANGE:		20091202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIFETIME BRANDS, INC
		CENTRAL INDEX KEY:			0000874396
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				112682486
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1207

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19254
		FILM NUMBER:		091217586

	BUSINESS ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530
		BUSINESS PHONE:		5166836000

	MAIL ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		STREET 2:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIFETIME HOAN CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k12012009.htm
<TEXT>
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    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">UNITED STATES</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><b><font size="2">Washington, D.C. 20549</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><b><font size="4">FORM 8-K</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">CURRENT REPORT</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Date of report</font> <font size="2">(Date of earliest event reported): </font><b><font size="2">December 1, 2009</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="5">Lifetime Brands, Inc.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Exact Name of Registrant as Specified in Its Charter)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><b><font size="2">Delaware</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(State or Other Jurisdiction of Incorporation)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <div align="center">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="70%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="50%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">0-19254</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="50%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">11-2682486</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="50%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(Commission File Number)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="50%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(IRS Employer Identification No.)</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><b><font size="2">1000 Stewart Avenue, Garden City, New York, 11530</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Address of Principal Executive Offices)(Zip Code)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Registrant&rsquo;s Telephone Number, Including Area Code)</font><b><font size="2">516-683-6000</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2">(Former Name or Former Address, if Changed Since Last Report)</font><b><font size="2">N/A</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 3.54%; TEXT-ALIGN: left"><font size="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><i><font size="2">see </font></i><font size="2">General Instruction A.2. below):</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="41">
                    </td>

                    <td valign="top" width="41">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" width="1031">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">&nbsp;</td>

                    <td valign="top" width="41">
                    </td>

                    <td valign="top" width="1031">
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">&nbsp;</td>

                    <td valign="top" width="41">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" width="1031">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">&nbsp;</td>

                    <td valign="top" width="41">
                    </td>

                    <td valign="top" width="1031">
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">&nbsp;</td>

                    <td valign="top" width="41">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" width="1031">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">&nbsp;</td>

                    <td valign="top" width="41">
                    </td>

                    <td valign="top" width="1031">
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="41">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 140.4%; TEXT-ALIGN: left"><font size="1">&nbsp;</font></p>
                    </td>

                    <td valign="top" width="41">
                        <font face="Wingdings"></font>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings"><font face="Wingdings">o</font></font></p>
                    </td>

                    <td valign="top" width="1031">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify"><b><font size="2">Item 1.01. Entry into a Material Definitive Agreement</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font size="2">On December 1, 2009, Lifetime Brands, Inc. (the &ldquo;Company&rdquo;) entered into an agreement with Crispus Attucks Association of York, Pennsylvania, Inc. and Wellspan Properties, Inc. Pursuant to the agreement, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, the Company was released from its lease obligations for space in the Greenway Tech Center in York,
        Pennsylvania. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><b><font size="2">Item 9.01. Financial Statements and Exhibits</font></b></p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 8pt" valign="top" width="3%">
                        <p style="MARGIN: 8pt 0in 6pt">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 8pt" valign="top" width="3%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(d)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 8pt" valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Exhibits</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="7%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td valign="top" width="7%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">99.1 </font></p>
                    </td>

                    <td valign="top">
                        <font size="2"></font>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2"><a href="ex99_1-f8k12012009.htm"><font size="2">Termination of Lease and Sublease Agreement dated as of December 1, 2009 by and between Crispus Attucks Association of York, Pennsylvania, Inc. and Lifetime Brands, Inc.</font></a></font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 15.38%; TEXT-INDENT: -7.69%; TEXT-ALIGN: justify">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Signature</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="54%" border="0">
                <tr>
                    <td valign="top" nowrap width="56%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="top" nowrap width="43%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Lifetime Brands, Inc.</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="69%" border="0">
                <tr>
                    <td valign="bottom" nowrap width="44%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" nowrap width="11%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">By: </font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" nowrap width="22%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">/s/ Laurence Winoker</font></p>
                    </td>

                    <td valign="bottom" width="22%">
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="59%" border="0">
                <tr>
                    <td valign="top" nowrap width="64%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="top" nowrap width="35%">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Laurence Winoker</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 38.46%; TEXT-ALIGN: left"><font size="2">Senior Vice President &ndash; Finance, Treasurer and Chief Financial Officer</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 38.46%; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Date: December 2, 2009</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
    </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1-f8k12012009.htm
<TEXT>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 150%; TEXT-ALIGN: right"><b><a name="Exhibit99.1"><font size="2"><b><font size="2">Exhibit 99.1</font></b></font></a></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 150%; TEXT-ALIGN: center"><b><font size="2">TERMINATION OF LEASE AND SUBLEASE AGREEMENT</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">This Termination of Lease and Sublease Agreement (&ldquo;Agreement&rdquo;), dated as of December 1, 2009, (the </font><b><font size="2">&ldquo;</font></b><u><b><font size="2">Effective Date</font></b></u><b><font size="2">&rdquo;</font></b><font size="2">), is entered into by and between </font><b><font size="2">CRISPUS ATTUCKS ASSOCIATION OF YORK, PENNSYLVANIA, INC.</font></b>
        <font size="2">a Pennsylvania corporation having an office at 605 S. Duke Street, York, PA 17401-3111 (&ldquo;</font><u><b><font size="2">Landlord</font></b><font size="2">&rdquo;)</font></u><font size="2">, </font><b><font size="2">PFALTZGRAFF FACTORY STORES, INC</font></b><font size="2">., a Delaware corporation having an office at 1000 Stewart Avenue, Garden City, New York 11530
        (</font><b><font size="2">&ldquo;</font></b><u><b><font size="2">Pfaltzgraff</font></b></u><b><font size="2">&rdquo;</font></b><font size="2">), </font><b><font size="2">LIFETIME BRANDS, INC.</font></b><font size="2">, a Delaware corporation having an office at 1000 Stewart Avenue, Garden City, New York 11530 (&ldquo;</font><u><b><font size="2">Lifetime</font></b></u><font size="2">&rdquo;), and </font><b><font size="2">WELLSPAN PROPERTIES, INC.</font></b> <font size="2">a Pennsylvania
        not-for-profit corporation having an office at 45 Monument Road, York, PA 17403 (</font><b><font size="2">&ldquo;</font></b><u><b><font size="2">Wellspan</font></b></u><b><font size="2">&rdquo;</font></b><font size="2">).</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 150%; TEXT-ALIGN: center"><b><font size="2">W I T N E S S E T H:</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.53in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">WHEREAS</font></b><font size="2">, Landlord and Pfaltzgraff have entered into a lease agreement dated as of July 27, 2006 as supplemented by a Lease Commencement Letter dated May 1, 2007 which Lease is annexed hereto and made a part hereto as </font><u><b><font size="2">Exhibit &ldquo;A&rdquo;</font></b></u> <font size="2">(collectively, the
        &ldquo;</font><b><font size="2">Lease</font></b><font size="2">&rdquo;) pursuant to which Pfaltzgraff leased all of the land and the 5-story building located thereon (&ldquo;</font><b><font size="2">Building</font></b><font size="2">&rdquo;) known as 540 S. George Street, York, PA, excluding the Historic Lobby, as more fully defined in the Lease (collectively, the </font><b><font size="2">&ldquo;Premises</font></b><font size="2">&rdquo;) for a term expiring on May 31, 2022 (the
        &ldquo;</font><b><font size="2">Lease Expiration Date</font></b><font size="2">&rdquo;); and</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.53in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">WHEREAS</font></b><font size="2">, Lifetime guaranteed the full payment, performance and observance by Pfaltzgraff of all the terms, covenants, and conditions of the Lease (the &ldquo;</font><b><font size="2">Guaranty</font></b><font size="2">&rdquo;); and</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.53in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">WHEREAS</font></b><font size="2">, Pfaltzgraff and Wellspan have entered into a sublease agreement dated as of December 1, 2008 which Sublease is annexed hereto and made a part hereof as </font><u><b><font size="2">Exhibit &ldquo;B&rdquo;</font></b></u> <font size="2">(the &ldquo;</font><b><font size="2">Sublease</font></b><font size="2">&rdquo;) pursuant to
        which Wellspan subleased from Pfaltzgraff the entire second floor of the Building consisting of 11,150 square feet (the &ldquo;</font><b><font size="2">Sublease Space</font></b><font size="2">&rdquo;), for a term expiring on November 30, 2013 (the &ldquo;</font><b><font size="2">Sublease Expiration Date</font></b><font size="2">&rdquo;) ; and</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.53in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">WHEREAS</font></b><font size="2">, Landlord, Pfaltzgraff, Wellspan, and Lifetime (collectively referred to herein as the &ldquo;</font><b><font size="2">parties</font></b><font size="2">&rdquo;) have entered into a Memorandum of Understanding dated October 23, 2009 (&ldquo;</font><b><font size="2">MOU</font></b><font size="2">&rdquo;) whereby the parties agreed
        to the following, all of which shall be effective as of December 1, 2009: (i) Landlord and Pfaltzgraff shall terminate the Lease prior to the Lease Expiration Date; (ii) Pfaltzgraff and Wellspan shall terminate the Sublease prior to the Sublease Expiration Date, (iii) Landlord and Wellspan shall enter into a lease whereby Landlord shall lease to Wellspan the Premises; (iv) Wellspan and Lifetime shall enter into a use and occupancy agreement whereby Lifetime shall have the right to use
        and occupy a portion of the Building for a maximum period of six (6) months; and</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">WHEREAS</font></b><font size="2">, the parties desire to effectuate the agreement reached in the MOU and terminate the Lease and Sublease Agreements pursuant to the terms and conditions contained in this Termination Agreement. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><b><font size="2">NOW, THEREFORE,</font></b> <font size="2">in consideration of the representations, warranties, covenants and conditions set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">1.</font><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Recitals</font></u><font size="2">. The foregoing Recitals are incorporated herein by reference and are made part of this Agreement as if restated in their entirety. If there should be a conflict between the provisions of the Lease, Sublease, and this Agreement, this
        Agreement shall control. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Capitalized Terms</font></u><font size="2">. Unless otherwise defined herein, all capitalized terms shall have the same meanings as set forth in the Lease and Sublease.</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2"><font size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u>Lease Termination</u>. Landlord, Pfaltzgraff, and Lifteime agree that notwithstanding anything to the contrary contained in the Lease, the Lease and Guaranty shall terminate and expire as of December 1, 2009 (the &ldquo;</font><b><font size="2">Lease Termination
        Date</font></b><font size="2">&rdquo;) and effective as of the Lease Termination Date the Lease and Guaranty shall be null and void and of no further force and effect, except that Landlord agrees, on or prior to the Lease Termination Date, to refund to Pfaltzgraff the Security Deposit in the amount of Forty-seven Thousand and 00/100 Dollars ($47,000.00). </font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Sublease Termination</font></u><font size="2">. Pfaltzgraff and Wellspan agree that notwithstanding anything to the contrary contained in the Sublease, the Sublease shall terminate and expire as of December 1, 2009 (the &ldquo;</font><b><font size="2">Sublease Termination
        Date</font></b><font size="2">&rdquo;) and effective as of the Sublease Termination Date the Sublease shall be null and void and of no further force and effect.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Lease Early Termination Fee</font></u><font size="2">. In consideration for terminating the Lease and Guaranty as provided herein, and subject to and conditioned upon satisfaction of the terms and conditions set forth in this Agreement, Lifetime agrees to pay to Wellspan simultaneously with
        the execution of this Agreement the sum of One Million Four Hundred Thousand and 00/100 Dollars ($1,400,000) (the &ldquo;</font><b><font size="2">Early Termination Fee</font></b><font size="2">&rdquo;).</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Wellspan Lease</font></u><font size="2">: Simultaneously with the execution of this Agreement, Landlord and Wellspan shall enter into the lease agreement annexed hereto and made a part hereto as </font><u><font size="2">Exhibit &ldquo;C&rdquo;</font></u> <font size="2">(the
        &ldquo;</font><b><font size="2">Wellspan Lease</font></b><font size="2">&rdquo;) whereby commencing on December 1, 2009 (&ldquo;</font><b><font size="2">Wellspan Lease Commencement Date</font></b><font size="2">&rdquo;) Landlord shall lease to Wellspan the Premises. This Agreement and each of its provisions is expressly contingent upon Landlord and Wellspan executing a final and binding Wellspan Lease. Unless and until Landlord and Wellspan execute the Wellspan Lease, the Lease and
        Sublease shall continue in full force and effect.</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Use and Occupancy Agreement</u>. Simultaneously with the execution of this Agreement, Wellspan and Lifetime shall enter into the use and occupancy agreement annexed hereto and made a part hereto as <u>Exhibit &ldquo;D&rdquo;</u> (the &ldquo;<strong>Use and Occupancy Agreement</strong>&rdquo;) whereby commencing
        on December 1, 2009 Wellspan has agreed to grant to Lifetime the right to use and occupy the first (1st) and third (3rd) floors of the Building (the &ldquo;<strong>Lifetime Premises</strong>&rdquo;) for a period not to exceed six (6) months. This Agreement and each of its provisions is expressly contingent upon Wellspan and Lifetime executing a final and binding Use and Occupancy Agreement. Unless and until Wellspan and Lifetime execute the Use and Occupancy Agreement, the Lease and
        Sublease shall continue in full force and effect.</font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Adjustments</font></u><font size="2">. The parties agree that notwithstanding anything to the contrary contained in the Lease and/or the Sublease, effective as of December 1, 2009, Wellspan shall be responsible to pay for all rent, operating expenses, and other costs and expenses relating
        to the Premises, including but not limited to, taxes, utility costs, insurance costs and reimbursements, common area maintenance expenses, and other costs and expenses not included in the base rent under the Lease and/or Sublease. To the extent Pfaltgraff and Lifetime have prepaid any of the foregoing expenses, including but not limited to, taxes, Wellspan shall simultaneously with the execution of this Agreement, reimburse Pfaltzgraff and Lifetime for any such prepaid expense.
        </font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Landlord Release</font></u><font size="2">. Effective as of the Lease Termination Date, Landlord forever releases and discharges Pfaltzgraff and Lifetime from any and all claims, demands or causes of action whatsoever against Pfaltzgraff, Lifetime, or their successors and assigns arising
        out of or in connection with the Premises or the Lease for the Premises or the Guaranty and forever releases and discharges Pfaltzgraff and Lifetime from any obligations to be observed or performed by Pfaltzgraff or Lifetime under the Lease for the Premises or the Guaranty after the Lease Termination Date. </font></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Pfaltzgraff Release</u>. Effective as of the Sublease Termination Date, Pfaltzgraff forever releases and discharges Wellspan from any and all claims, demands or causes of action whatsoever against Wellspan or its successors and assigns arising out of or in connection with the Sublease Space or the Sublease and
        forever releases and discharges Wellspan from any obligations to be observed or performed by Wellspan under the Sublease after the Sublease Termination Date.</font></p>

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                    <td valign="top" nowrap width="50">
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                    <td valign="top" nowrap width="38">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left"><font size="2">11.</font></p>
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                    <td valign="top" nowrap width="1025">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left"><u><font size="2">Representations and Warranties</font></u><font size="2">.</font></p>
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                <tr>
                    <td valign="top" width="88">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="top" width="32">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: justify"><font size="2">A.</font></p>
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                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left"><font size="2">Landlord represents and warrants that (i) Pfaltzgraff and Lifetime are not in default of any obligations under the Lease and Guaranty, and it has no knowledge of any fact or circumstance which would give rise to any claim, demand, obligation, liability, action or cause of action arising out of or in connection with the Lease and Guaranty
                        or the occupancy of the Premises by Pfaltzgraff and/or Lifetime; and (ii) Landlord is a corporation duly organized and validly existing under the laws of the Commonwealth of Pennsylvania, and in good standing under the laws of the Commonwealth of Pennsylvania, and has all legal right, power and authority to execute, deliver and perform this Agreement; and (iii) this Agreement has been duly authorized, executed and delivered by Landlord; and (iv) Landlord has obtained any
                        and all necessary and required approvals or consents to this Agreement from the holder of any mortgage encumbering the Premises.</font></p>
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                    <td valign="top" width="89">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left">&nbsp;</p>
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                    <td valign="top" width="31">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: justify"><font size="2">B.</font></p>
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                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left"><font size="2">Wellspan represents and warrants that (i) Pfaltzgraff and Lifetime are not in default of any obligations under the Sublease, and it has no knowledge of any fact or circumstance which would give rise to any claim, demand, obligation, liability, action or cause of action arising out of or in connection with the Sublease or the obligations
                        of Pfaltzgraff and Lifetime under the terms of the Sublease; (ii) Wellspan is a corporation duly organized and validly existing under the laws of the Commonwealth of Pennsylvania, and in good standing under the laws of the Commonwealth of Pennsylvania, and has all legal right, power and authority to execute, deliver and perform this Agreement; and (iii) this Agreement has been duly authorized, executed and delivered by Wellspan.</font></p>
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                    <td valign="top" width="90">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left">&nbsp;</p>
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                    <td valign="top" width="30">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: justify"><font size="2">C.</font></p>
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                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 162%; TEXT-ALIGN: left"><font size="2">Pfaltzgraff represents and warrants that: (i) Wellspan is not in default of any obligations under the Sublease and it has no knowledge of any fact or circumstance which would give rise to any claim, demand, obligation, liability, action or cause of action arising out of or in connection with the Sublease or the occupancy of the Sublease
                        Space by Wellspan; (ii) Landlord is not in default of any obligations under the Lease and it has no knowledge of any fact or circumstance which would give rise to any claim, demand, obligation, liability, action or cause of action arising out of or in connection with the Lease or the obligations of Landlord under the terms of the Lease; (iii) it is not in default of any obligations under the Lease and it has no knowledge of any fact or circumstance which would rise to
                        any claim, demand, obligation, liability, action or cause of action arising out of or in connection with the Lease or the obligations of Pfaltzgraff under the terms of the Lease; (iv) it has not made any assignment of its rights in the Premises for the benefit of any creditors; (v) except for the Sublease, it has not entered into any sublease with or conveyed any other rights or made any other legal commitments regarding the Premises to any other third party, (vi) it has
                        not received any notices from government authorities relating to violation of any applicable ordinances, codes or laws with respect to the Premises; (vii) Pfaltzgraff and Lifetime are each corporations duly organized and validly existing under the laws of the State of Delaware and in good standing under the laws of the State of Delaware, and each has all legal right, power and authority to execute, deliver and perform this Agreement; and (viii) this Agreement has been
                        duly authorized, executed and delivered by Pfaltzgraff and Lifetime.</font></p>
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            <a name="PAGENUM"><font face="Times New Roman, Times, serif" color="#000000" size="1">6</font></a>
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            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Premises Condition</u>. Landlord acknowledges that, except for the Lifetime Premises, as of December 1, 2009, Pfaltzgraff has vacated and surrendered the Premises, including all improvements and alterations made thereto, in the condition required under the Lease. Pfaltzgraff hereby agrees to waive any interest it may have
        in any improvements made to the Premises. Pfaltzgraff hereby assigns to Wellspan any third party guarantees or warranties for such improvements. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Entire Agreement</font></u><font size="2">. This Agreement constitutes the entire agreement between the parties concerning the subject matter of this Agreement and any written agreements prior to the execution of this Agreement, excluding those portions of the Lease not affected by this Agreement,
        shall be effectively merged into this Agreement.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Successors and Assigns</font></u><font size="2">. Except where otherwise provided in this Agreement, all of the provisions of this Agreement shall apply to, be binding upon, and inure to the benefit of the parties hereto, and each of their successors and assigns as permitted.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Effective Date</font></u><font size="2">. In the event this Agreement is not signed simultaneously by both parties, it shall be considered to be an offer made by the party first executing it to the other party. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><font size="2">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size="2">Counterparts</font></u><font size="2">. This Agreement may be executed in several counterparts, each of which may be deemed an original, and all of such counterparts together shall constitute one and the same Agreement. The exchange of counterpart signatures via email or facsimile shall be deemed to
        be valid and effective. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 150%; TEXT-ALIGN: center"><font size="2">[END OF TEXT: SIGNATURES ON NEXT PAGE]</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"></p>
        </div>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman, Times, serif" color="#000000" size="1">7</font></a>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; LINE-HEIGHT: 150%; TEXT-ALIGN: left"><b><font size="2">IN WITNESS WHEREOF</font></b><font size="2">, the parties hereto by their duly authorized officers, partners, agents or attorney-in-fact have executed this Termination of Lease and Sublease Agreement effective as of the date and year first written hereinabove.</font></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><strong><font size="2">CRISPUS ATTUCKS OF YORK, </font></strong></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2"><strong>PENNSYLVANIA, INC.,</strong> a Pennsylvania </font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Corporation</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="5"><font size="2">By:&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="163"><font size="2">&nbsp;/s/ Robert Simpson</font></td>

                <td width="379">
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Robert L. Simpson, Chief Executive Officer</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Date of Execution :________________, 2009</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><strong><font size="2">LIFETIME BRANDS, INC.,</font></strong> <font size="2">a Delaware </font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Corporation</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="5"><font size="2">By:&nbsp; </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><font size="2">&nbsp;/s/ Ronald Shiftan</font></td>

                <td>
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Name: Ronald Shiftan</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Title: Vice Chairman</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Date of Execution: November 24, 2009</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">
                    <p><b><font size="2">PFALTZGRAFF FACTORY STORES, INC.</font></b></p>
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">a Delaware Corporation</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="5"><font size="2">By:&nbsp; </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><font size="2">/s/ Ronald Shiftan</font></td>

                <td>
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Name: Ronald Shiftan</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Title: Vice Chairman</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Date of Execution: November 24, 2009</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><strong><font size="2">WELLSPAN PROPERTIES, INC.</font></strong></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">a Pennsylvania Corporation</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="5">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">By:</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><font size="2">/s/ Keith Noll</font></td>

                <td>
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Name: Keith Noll</font></p>
                </td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Title: Vice President</font></td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">
                </td>

                <td valign="bottom" align="left" colspan="7"><font size="2">Date of Execution: November 24, 2009</font></td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><a name="PAGENUM"><font face="Times New Roman, Times, serif" color="#000000" size="1">8</font></a></p>
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