<SEC-DOCUMENT>0001564590-18-015452.txt : 20180612
<SEC-HEADER>0001564590-18-015452.hdr.sgml : 20180612
<ACCEPTANCE-DATETIME>20180612072436
ACCESSION NUMBER:		0001564590-18-015452
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20180611
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180612
DATE AS OF CHANGE:		20180612

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DESTINATION XL GROUP, INC.
		CENTRAL INDEX KEY:			0000813298
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-FAMILY CLOTHING STORES [5651]
		IRS NUMBER:				042623104
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34219
		FILM NUMBER:		18893554

	BUSINESS ADDRESS:	
		STREET 1:		555 TURNPIKE STREET
		CITY:			CANTON
		STATE:			MA
		ZIP:			02021
		BUSINESS PHONE:		7818215900

	MAIL ADDRESS:	
		STREET 1:		555 TURNPIKE STREET
		CITY:			CANTON
		STATE:			MA
		ZIP:			02021

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CASUAL MALE RETAIL GROUP INC
		DATE OF NAME CHANGE:	20020821

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DESIGNS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>dxlg-8k_20180611.htm
<DESCRIPTION>8-K CONACHER AND CANNELL
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WASHINGTON, D.C. 20549 </p>
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<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K </p>
<p style="text-align:center;margin-top:9pt;line-height:4pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:46.15%;margin-right:46.15%;text-indent:0%;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT </p>
<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </p>
<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported): June 11, 2018 </p>
<p style="text-align:center;margin-top:9pt;line-height:4pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:46.15%;margin-right:46.15%;text-indent:0%;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:20pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">DESTINATION XL GROUP, INC. </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Exact name of Registrant as Specified in Its Charter) </p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">01-34219</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">04-2623104</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(State or Other Jurisdiction</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">of Incorporation)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Commission File Number)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(IRS Employer</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">555 Turnpike Street<font style="font-size:12pt;">,</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Canton, Massachusetts</p></td>
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<p style="line-height:2pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">02021</p></td>
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<p style="line-height:2pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Zip Code)</p></td>
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<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Registrant&#8217;s Telephone Number, Including Area Code: <font style="font-size:10pt;">(781) 828-9300</font></p>
<p style="text-align:center;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Not Applicable </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:7.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Former Name or Former Address, if Changed Since Last Report) </p>
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<p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 (see General Instructions A.2. below): </p>
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<p style="margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p></td></tr></table></div>
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<p style="margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p></td></tr></table></div>
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<p style="margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p></td></tr></table></div>
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<p style="margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p></td></tr></table></div>
<p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</p>
<p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company&#160;<font style="font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="text-align:center;margin-top:12pt;line-height:1pt;border-top:Solid 0.75pt #000000;padding-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-top:1pt;line-height:1pt;border-top:Solid 1pt;padding-top:1pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 1.01 Entry into Material Definitive Agreement</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On June 11, 2018, Destination XL Group, Inc. (the &#8220;Company&#8221;) entered into a letter agreement (the &#8220;Agreement&#8221;) with J. Carlo Cannell and Cannell Capital LLC (including on behalf of their respective Affiliates) (collectively, &#8220;Cannell&#8221;) related to, among other things, the nomination of Mr. Lionel Conacher to the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) and certain standstill and other agreements between Cannell and the Company.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under the terms of the Agreement, the Company agreed to appoint Mr. Conacher to serve on the Board effective June 11, 2018.&nbsp;&nbsp;To allow for this appointment, the Board increased its size to ten directors.&nbsp;&nbsp;At the 2018 Annual Meeting, the Board will nominate and recommend Mr. Conacher for election as a director of the Company and also revert board size back to nine members.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In consideration for the above, Cannell agreed to withdraw its nominations with respect to the 2018 Annual Meeting, as well as vote in favor of certain of the Company&#8217;s proposals at the 2018 Annual Meeting, including the Company&#8217;s slate of director nominees.&nbsp;&nbsp;Cannell also agreed to be bound by certain standstill provisions under the Agreement.&nbsp;&nbsp;The terms of the Agreement expire January 29, 2019.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing description of the Agreement is a summary only and is subject to, and qualified in its entirety by, the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the terms of the Agreement, on June 11, 2018, based on the recommendation of the Board&#8217;s Nominating and Corporate Governance Committee, the Board appointed Mr. Conacher to serve on the Board effective on the same date. In connection with the appointment, the Board expanded the size of the Board to ten directors. Mr. Conacher will serve for a term expiring at 2018 Annual Meeting and until his successor shall have been elected and qualified or until his earlier resignation or removal.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A copy of the Company&#8217;s press release announcing the appointment of Mr. Conacher is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01 Financial Statements and Exhibits.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 hereunto duly authorized.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">DESTINATION XL GROUP, INC.</p></td>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>dxlg-ex101_6.htm
<DESCRIPTION>EX-10.1 LETTER AGREEMENT WITH CANNELL CAPITAL LLC
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-variant: small-caps;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;"><a name="_cp_text_2_85"></a>Exh 10.1</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-variant: small-caps;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;">Destination XL Group, Inc.<font style="font-variant: normal;"><br />555 Turnpike Street<br />Canton, MA 02021</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 11, 2018</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br />Cannell Capital LLC<br />245 Meriwether Circle<br />Alta, WY 83414<br />Attn:&nbsp;&nbsp;J. Carlo Cannell</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Cannell:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_2"></a>This letter agreement (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) constitutes the agreement between Destination XL Group, Inc., a Delaware corporation (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;), and J. Carlo Cannell and Cannell Capital LLC, a Wyoming limited liability company (J. Carlo Cannell, Cannell Capital LLC and their Affiliates, together the &#8220;<font style="text-decoration:underline;">Investors</font><a name="_cp_text_1_2"></a>&#8221;), with respect to the matters set forth below. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in paragraph 10 below. </p>
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<p style="margin-bottom:12pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1. </font></p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;">New Director</font>. </p></td></tr></table></div>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_11"></a><a name="_cp_text_4_19"></a>(a)<font style="margin-left:36pt;"><a name="_cp_text_1_11"></a>As soon as practicable following the date of this Agreement, but no later than </font>June 25, 2018 (such date, the &#8220;<font style="text-decoration:underline;">Appointment Date</font>&#8221;), the board of directors of the Company (the &#8220;<font style="text-decoration:underline;">Board</font>&#8221;) shall appoint Lionel F. Conacher (the &#8220;<font style="text-decoration:underline;">New Director</font>&#8221;)<a name="_cp_text_4_19"></a> to serve on the Board.  The Nominating and Governance Committee of the Board and the Board will (i) limit the number of director nominees of the Company in connection with the Company&#8217;s 2018 Annual Meeting of Stockholders (including any postponement or adjournment thereof, the &#8220;<font style="text-decoration:underline;">2018 Annual Meeting</font>&#8221;) to nine nominees and (ii) also nominate the New Director for election as one of the director nominees of the Company in connection with the 2018 Annual Meeting.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font>The Investors hereby irrevocably withdraw the nomination of Lionel F. Conacher, John Flood, Gus Halas and Richard Van Doren, Jr. notified by or on behalf of it to the Company on May 4, 2018 in connection with the 2018 Annual Meeting and any related materials or notices submitted to the Company in connection therewith or related thereto, and agree not to nominate any new nominee for election at the 2018 Annual Meeting in substitution for Lionel F. Conacher, John Flood, Gus Halas and Richard Van Doren, Jr.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>2. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">New Director Agreements, Arrangements and Understandings</font>. The Investors (a) represent that the New Director is Independent and satisfies the Board membership criteria set forth in the Company Policies and (b) agree that they have not and will not (i) pay any compensation to the New Director regarding such Person&#8217;s nomination for election to, or service on, the Board or any committee thereof or (ii) have any agreement, arrangement or </p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">understanding, written or oral, with </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> New Director regarding such Person&#8217;s service on the</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Board or any committee thereof</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company agrees that the Board will determine the New Director&#8217;s membership of any Board committees in accordance with its usual practices.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">New Director Information</font>. As a condition to the New Director&#8217;s appointment to the Board and any subsequent nomination for election as a director at any future Company Annual Meeting of Stockholders, the New Director candidate will provide any information the Company reasonably requires, including information required to be disclosed in a proxy statement or other filing under applicable law, stock exchange rules or listing standards, information in connection with assessing eligibility, independence and other criteria applicable to directors or satisfying compliance and legal obligations, and will consent to appropriate background checks, to the extent, in each case, consistent with the information and background checks required by the Company in accordance with current practice with respect to all other members of the Board since January 28, 2016.  If, following the completion of the Company&#8217;s initial background review process, the Board learns that the New Director has committed, been indicted or charged with, or made a plea of <font style="font-style:italic;">nolo contendre</font> to a felony or a misdemeanor involving moral turpitude, deceit, dishonesty or fraud, or learns other information that would in good faith render such New Director ineligible for Board membership or constitute grounds for a removal of such New Director from the Board for cause, then the Board may request that the New Director submit his resignation.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_53"></a><a name="_cp_text_1_56"></a>4. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Voting of Investors&#8217; Shares</font>. In connection with the 2018 Annual Meeting (and any adjournments or postponements thereof), so long as the New Director has<a name="_cp_text_1_53"></a> been appointed to <a name="_cp_text_1_56"></a>the Board and nominated by the Company for the 2018 Annual Meeting in accordance with paragraph 1 above, the Investors will cause to be present for quorum purposes and vote or cause to be voted all Company common stock beneficially owned by them and which they have the right to vote on the record date for the 2018 Annual Meeting in favor of (a) the election of each of the Board&#8217;s nominees and (b) the appointment of the Board&#8217;s recommended independent auditor for fiscal year 2018.&nbsp;&nbsp;The Investors agree that they will not, directly or indirectly, sell, offer or agree to sell the voting rights for, or enter into a voting trust or other arrangement with respect to, any shares of Company common stock owned by them unless the counterparty in such transaction also agrees to the voting obligations set forth in this paragraph 4.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Company Policies</font>. The parties hereto acknowledge that the New Director, upon appointment to the Board, will serve as a member of the Board and will be governed by the same protections and obligations as a member of the Board (including as set forth in the Company Policies), and shall have the same rights and benefits, including with respect to insurance, indemnification, compensation and fees, as are applicable to all independent directors of the Company.  The Company represents and warrants that all Company Policies currently in effect are publicly available on the Company&#8217;s website or described in its proxy statement filed with the Securities and Exchange Commission (the &#8220;<font style="text-decoration:underline;">SEC</font>&#8221;) on June 30, 2017 or have otherwise been provided to the Investors, and such Company Policies will not be amended prior to the appointment of the New Director other than as may be required to implement this Agreement or as required by law, regulation or the rules of any applicable national securities exchange.<font style="font-weight:bold;"> </font> </p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_57"></a><a name="_AEIOULastRenderedPageBreakAEIOU3"></a>6. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Standstill</font>. From the date of this Agreement until the Expiration Date (such period, the &#8220;<font style="text-decoration:underline;">Restricted Period</font>&#8221;), the Investors will not, and will cause their respective principals, </p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">directors, general partners, officers, employees, and agents and representatives acting on their behalf (collectively, the &#8220;</font><font style="text-decoration:underline;">Restricted Persons</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221;) not to, directly or indirectly, absent prior express written invitation or authorization by the Company or the Board:</font><font style="font-weight:bold;"> </font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;">engage in any &#8220;solicitation&#8221; (as such term is defined under the Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="text-decoration:underline;">Exchange Act</font>&#8221;)) of proxies or consents with respect to the election or removal of directors or any other matter or proposal or become a &#8220;participant&#8221; (as such term is defined in Instruction 3 to Item 4 of Schedule 14A promulgated under the Exchange Act) in any such solicitation of proxies or consents;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;">knowingly encourage, advise or influence any other Person or knowingly assist any Person in so encouraging, advising or influencing any Person with respect to the giving or withholding of any proxy, consent or other authority to vote or in conducting any type of referendum, binding or non-binding, (other than such encouragement, advice or influence that is consistent with Company management&#8217;s recommendation in connection with such matter);</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)<font style="margin-left:36pt;">form, join or act in concert with any partnership, limited partnership, syndicate or other group, including a &#8220;group&#8221; as defined pursuant to Section 13(d) of the Exchange Act with respect to any Voting Securities, other than solely with </font>another Investor with respect to Voting Securities now or hereafter owned by them;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;">(i) seek, alone or in concert with others, election or appointment to, or representation on, the Board or nominate or propose the nomination of, or recommend the nomination of, any candidate to the Board, except as set forth herein, (ii) seek, alone or in concert with others, the removal of any member of the Board or (iii) conduct a referendum of stockholders;</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(e)<font style="margin-left:36pt;">make or be the proponent of any stockholder proposal (pursuant to Rule 14a-8 under the Exchange Act or otherwise);</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> (f)<font style="margin-left:36pt;">except as set forth herein, make any public proposal with respect to (i) any change in the number or term of directors or the filling of any vacancies on the Board, (ii) any material change in the capitalization or dividend policy of the Company, (iii) any other material change in the Company&#8217;s management, business or corporate structure, (iv) any waiver, amendment or modification to the Company&#8217;s Certificate of Incorporation or Bylaws, (v) causing a class of securities of the Company to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or (vi) causing a class of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act;</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>(g)<font style="margin-left:36pt;">institute, solicit, assist or join any litigation, arbitration or other proceeding against or involving the Company or any of its current or former directors or officers (including derivative actions) in order to effect or take any of the actions expressly prohibited by this paragraph </font>6; <font style="text-decoration:underline;">provided</font>, <font style="text-decoration:underline;">however</font>, that for the avoidance of doubt the foregoing shall not prevent any Restricted Person from (i) bringing litigation to enforce the provisions of this Agreement, (ii) making counterclaims with respect to any </p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">proceeding initiated by, or on behalf of, the Company against a Restricted Person, (iii) bringing bona fide commercial disputes that do not relate to the subject matter of this Agreement, or (iv) exercising statutory appraisal rights; </font><font style="text-decoration:underline;">provided</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, </font><font style="text-decoration:underline;">further</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, that the foregoing shall also not prevent the Restricted Persons from responding to or complying with a validly issued legal process;</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(h)<font style="margin-left:36pt;">enter into any negotiations, agreements or understandings with</font> any Third Party, or otherwise encouraging or facilitating any Third Party, in each case to take any action that the Investor is prohibited from taking pursuant to this paragraph 6; or</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(i)<font style="margin-left:36pt;">make any request or submit any proposal, directly or indirectly, to amend or waive the terms of this Agreement, in each case which would reasonably be expected to result in a public announcem</font>ent of such request or proposal.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_80"></a><a name="_cp_text_1_80"></a>Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement shall prohibit or restrict the New Director from exercising his rights and fiduciary duties as a director of the Company or restrict his discussions solely among other members of the Board and/or management, advisors, representatives or agents of the Company.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7. <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Private Communications</font>. Notwithstanding anything to the contrary in this Agreement, the Investors may communicate privately with the Company&#8217;s directors and senior members of management (the &#8220;<font style="text-decoration:underline;">Contact Personnel</font>&#8221;), but only so long as such private communications would not reasonably be expected to require any public disclosure thereof.  Each of the Investors acknowledges and agrees that the Contact Personnel may engage in discussions with any Investor subject to, and in accordance with, the terms of their fiduciary duties to the Company and the Company Policies.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Press Release; SEC Filings</font>. Promptly following the execution and delivery of this Agreement, the Company shall issue a press release in the form attached as <font style="text-decoration:underline;">Exhibit A</font> (the &#8220;<font style="text-decoration:underline;">Press Release</font>&#8221;) and no party shall make any statement inconsistent with the Press Release in connection with the announcement of this Agreement.  Additionally, promptly following the execution and delivery of this Agreement (but in no case prior to the filing or other public release by the Company of the Press Release), the Company will file a Current Report on Form 8-K, which will report the entry into this Agreement.  The Investors shall promptly, but in no case prior to the date of the filing or other public release by the Company of the Press Release, prepare and file an amendment to the Schedule 13D with respect to the Company originally filed by the Investors with the SEC on April 4, 2018 (the &#8220;<font style="text-decoration:underline;">Schedule 13D</font>&#8221;) reporting the entry into this Agreement, the withdrawal of its notice of nomination and amending applicable items to conform to its obligations hereunder.  The amendment to the Schedule 13D and the Form 8-K shall each be consistent with the Press Release and the terms of this Agreement, and shall be in form and substance reasonably acceptable to the Company and Mr. Cannell or Cannell Capital LLC. </p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a>9.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Non-Disparagement</font>. During the Restricted Period, the Company and the Investors shall each refrain from making, and shall cause their respective Affiliates and their respective principals, directors, members, general partners, officers and employees not to make or cause to be made any statement or announcement including in any document or report filed </p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">with or furnished to the SEC or through the press, media, analysts or other persons, that both relates to and constitutes an ad hominem attack on, or that both relates to and otherwise disparages, defames, slanders, impugns or is reasonably likely to damage the reputation of, (a) in the case of statements or announcements by any </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">: the Company or any of its Affiliates, subsidiaries or advisors, or any of its or their respective current or former officers, directors or employees (including, without limitation, any statements or announcements regarding the Company&#8217;s strategy, operations, performance, products or services), and (b) in the case of statements or announcements by the Company: the </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">s</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and the </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8217; advisors, their respective employees or any person who has served as an employee of the </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and the </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8217; advisors. </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing shall not restrict the ability of any person to comply with any subpoena or other legal process or respond to a request for information from any governmental authority with jurisdiction over the party from whom information is sought or to enforce such person&#8217;s rights hereunder.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Defined Terms</font>. As used in this Agreement, the term (a) &#8220;<font style="text-decoration:underline;">Affiliate</font>&#8221; shall have the meaning set forth in Rule 12b-2 promulgated under the Exchange Act and shall include Persons who become Affiliates of any Person subsequent to the date of this Agreement; (b) &#8220;<font style="text-decoration:underline;">beneficially own</font>&#8221;, &#8220;<font style="text-decoration:underline;">beneficially owned</font>&#8221; and &#8220;<font style="text-decoration:underline;">beneficial ownership</font>&#8221; shall have the meaning set forth in Rules 13d-3 and 13d-5(b)(l) promulgated under the Exchange Act; (c) &#8220;<font style="text-decoration:underline;">business day</font>&#8221; shall mean any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank of New York is closed; (d) &#8220;Company Policies&#8221; shall mean the confidentiality, conflicts of interest, related party transactions, codes of conduct, trading and disclosure, director resignation and other guidelines and policies of the Company, (e) &#8220;<font style="text-decoration:underline;">Expiration Date</font>&#8221; means January 29, 2019; (f) &#8220;<font style="text-decoration:underline;">Independent</font>&#8221; means that a Person (x) (i) shall not be an employee, director, general partner, manager or other agent of an Investor, (ii) shall not be a limited partner, member or other investor in the Investor and (iii) shall not have, and shall not have had, any agreement, arrangement or understanding, written or oral, with any Investor regarding such Person&#8217;s service on the Board, and (y) shall be an independent director of the Company under the Company&#8217;s independence guidelines, applicable law and the rules and regulations of the SEC and the Nasdaq Stock Market; (g) &#8220;<font style="text-decoration:underline;">Person</font>&#8221; shall be interpreted broadly to include, among others, any individual, general or limited partnership, corporation, limited liability or unlimited liability company, joint venture, estate, trust, group, association or other entity of any kind or structure; (h) &#8220;<font style="text-decoration:underline;">Third Party</font>&#8221; means any Person that is not a party to this Agreement or an Affiliate thereof, a member of the Board, a director or officer of the Company, or legal counsel to any party to this Agreement; and (i) &#8220;<font style="text-decoration:underline;">Voting Securities</font>&#8221; shall mean the shares of common stock of the Company and any other securities of the Company entitled to vote in the election of directors, or securities convertible into, or exercisable or exchangeable for, such shares or other securities, whether or not subject to the passage of time or other contingencies.<font style="font-weight:bold;"> </font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU6"></a>11.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Investor&#8217;s Representations and Warranties</font>. Each Investor hereby represents and warrants that (a) this Agreement has been duly authorized, executed and delivered by it and is a valid and binding obligation of the Investor, enforceable against it in accordance with its terms; (b) it has not and will not during the Restricted Period have, any agreement, arrangement or understanding, written or oral, with the New Director or other member of the Board pursuant to which such individual has been or will be compensated for his service on the Board; (c) Mr. Cannell and Cannell Capital LLC have the right and power to control and cause their Affiliates to abide by their respective obligations under this Agreement; and (d) as of the date of this </p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Agreement, (i) the </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">s, collectively beneficially own </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.47</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of the Company&#8217;s outstanding common stock and have economic exposure to approximately </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.47</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of the Company&#8217;s outstanding common stock and (ii) except as previously disclosed in writing to the Company prior to the execution of this Agreement, </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">no </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> is a party to any swap or hedging transactions or other derivative agreements of any nature with respect to the Voting Securities.</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Each</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investor</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> further represent</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">s</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and warrant</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">s</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> that </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">it is</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> aware of the restrictions imposed by the U</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">S</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> securities laws on the purchase or sale of securities by any person who has received material, non-public information from the issuer of such securities and on the communication of such information to any other person when it is reasonably foreseeable that such other person is likely to purchase or sell such securities in reliance upon such information.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Company Representations and Warranties</font>. The Company represents and warrants that (a) this Agreement has been duly authorized, executed and delivered by it and is a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms; (b) does not require the approval of the stockholders of the Company; and (c) does not and will not violate any law, any order of any court or other agency of government, the Company&#8217;s Certificate of Incorporation or Bylaws, each as may be amended from time to time, or any provision of any agreement or other instrument to which the Company or any of its properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, or result in the creation or imposition of, or give rise to, any material lien, charge, restriction, claim, encumbrance or adverse penalty of any nature whatsoever pursuant to any such indenture, agreement or other instrument.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Specific Performance</font>. The Company and each of the Investors acknowledge and agree that money damages would not be a sufficient remedy for any breach (or threatened breach) of this Agreement by it and that, in the event of any breach or threatened breach hereof, (a) the non-breaching party will be entitled to injunctive and other equitable relief, without proof of actual damages; (b) the breaching party will not plead in defense thereto that there would be an adequate remedy at law; and (c) the breaching party agrees to waive any applicable right or requirement that a bond be posted by the non-breaching party.  Such remedies will not be the exclusive remedies for a breach of this Agreement, but will be in addition to all other remedies available at law or in equity.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a>14.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Entire Agreement; Successors and Assigns; Amendment and Waiver</font>. This Agreement (including its exhibits) constitutes the only agreement between the Investors and the Company with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns.  No party may assign or otherwise transfer either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported transfer requiring consent without such consent shall be void.  No amendment, modification, supplement or waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the party affected thereby, and then only in the specific instance and for the specific purpose stated therein.  Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement.  The failure of a party to </p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severability</font>. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect.  Any provision of this Agreement held invalid or unenforceable only in part or degree shall remain in full force and effect to the extent not held invalid or unenforceable.  The parties further agree to replace such invalid or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the purposes of such invalid or unenforceable provision.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_1_128"></a>16.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Governing Law</font>. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.  Each of the Investors and the Company (a) irrevocably and unconditionally consents to the personal jurisdiction and venue of the federal or state courts located in Wilmington, Delaware; (b) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court; (c) agrees that it shall not bring any action relating to this Agreement or otherwise in any court other than such courts; and (d) waives any claim of improper venue or any claim that those courts are an inconvenient forum.  <a name="_cp_text_1_128"></a>The parties agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in paragraph 18 or in such other manner as may be permitted by applicable law, shall be valid and sufficient service thereof.  Each of the parties, after consulting or having had the opportunity to consult with counsel, knowingly, voluntarily and intentionally waives any right that such party may have to a trial by jury in any litigation based upon or arising out of this Agreement or any related instrument or agreement, or any of the transactions contemplated thereby, or any course of conduct, dealing, statements (whether oral or written), or actions of any of them.  No party shall seek to consolidate, by counterclaim or otherwise, any action in which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Parties in Interest</font>. This Agreement is solely for the benefit of the parties and is not enforceable by any other Person.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">18.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Notices</font>. All notices, consents, requests, instructions, approvals and other communications provided for herein, and all legal process in regard hereto, will be in writing and will be deemed validly given, made or served when delivered in person, by electronic mail, by overnight courier or two business days after being sent by registered or certified mail (postage prepaid, return receipt requested) as follows:</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If to the Company to:</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Destination XL Group, Inc.<br />555 Turnpike Street<br />Canton, MA 02021<br />Attn:<font style="margin-left:72pt;"></font>Robert S. Molloy<br />Email: <font style="margin-left:72pt;"></font>rmolloy@dxlg.com</p>
<p style="margin-top:12pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU8"></a><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">with a copy (which shall not constitute notice) to:</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP<br />1285 Avenue of the Americas<br />New York, NY 10019<br />Attn:<font style="margin-left:72pt;"></font>Robert B. Schumer</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:15.38%;">Ross A. Fieldston<br />Email: <font style="margin-left:72pt;"></font><font style="text-decoration:none;">rschumer@paulweiss.com</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:15.38%;">rfieldston@paulweiss.com</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If to the Investors:</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cannell Capital LLC<br />245 Meriwether Circle<br />Alta, WY 83414<br />Attn:<font style="margin-left:72pt;"></font>J. Carlo Cannell</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:15.38%;">Stephen C. Wagstaff</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Email:<font style="margin-left:72pt;"></font><font style="text-decoration:none;">jcc@cannellcap.com</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:15.38%;">scw@canellcap.com</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At any time, any party may, by notice given in accordance with this paragraph to the other party, provide updated information for notices hereunder.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Legal Fees</font>. All attorneys&#8217; fees, costs and expenses incurred in connection with this Agreement and all matters related hereto will be paid by the party incurring such fees, costs or expenses.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">20.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Interpretation</font>. Each of the parties acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed this Agreement with the advice of such counsel.  Each party and its counsel cooperated and participated in the drafting and preparation of this Agreement, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation.  Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties, and any controversy over interpretations of this Agreement shall be decided without regard to events of drafting or preparation.</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">21.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Counterparts</font>. This Agreement may be executed by the parties in separate counterparts (including by fax, jpeg, .gif, .bmp and .pdf), each of which when so executed shall be an original, but all such counterparts shall together constitute one and the same instrument.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[<font style="font-style:italic;">Signature page follows</font>]</p>
<p style="margin-top:12pt; clear:both;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU9"></a><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If the terms of this Agreement are in accordance with your understanding, please sign below, whereupon this Agreement shall constitute a binding agreement among us.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Very truly yours,</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman Bold;text-transform:uppercase;font-size:12pt;font-style:normal;font-variant: normal;">Destination XL Group, Inc.</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:<font style="text-decoration:underline;">/s/ David A. Levin</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name: David A. Levin</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title: President and Chief Executive Officer</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accepted and agreed to (including on behalf of the Affiliates of the below) as of the date first written above:</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman Bold;text-transform:uppercase;font-size:12pt;font-style:normal;font-variant: normal;">Cannell Capital LLC </p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:<font style="text-decoration:underline;">/s/ J. Carlo Cannell&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><br />&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp;&nbsp;J. Carlo Cannell<br />&nbsp;&nbsp;&nbsp;&nbsp; Title:&nbsp;&nbsp;Managing Member</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:&nbsp;&nbsp;<font style="text-decoration:underline;">/s/ J. Carlo Cannell</font><br /><font style="font-weight:bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J. Carlo Cannell</font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>dxlg-ex991_22.htm
<DESCRIPTION>EX-99.1 PRESS RELEASE DATED JUNE 12, 2018
<TEXT>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EXH 99.1</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="g201806120123232873572.jpg" title="" alt="" style="width:154px;height:37px;"></p>
<p style="margin-top:1pt;margin-bottom:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:1pt;margin-bottom:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 12, 2018</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-weight:bold;;font-size:12.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-weight:bold;font-size:12.5pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">Destination XL Group, Inc. Announces Appointment of Lionel Conacher to its Board of Directors and Letter Agreement with Cannell Capital</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CANTON, Mass., June 12, 2018 (GLOBE NEWSWIRE) -- <font style="text-decoration:underline;">Destination XL Group, Inc. </font>(NASDAQ:DXLG), the largest omni-channel specialty retailer of big &amp; tall men's apparel, today announced the appointment of Lionel Conacher to its Board of Directors (the &#8220;Board&#8221;) as a new independent director, effective immediately.&nbsp;&nbsp;Mr. Conacher is a Senior Advisor to private equity firm Altamont Capital Partners LLC and currently sits on the boards of Dakine (designer and manufacturer of sportswear and sports equipment for the snowboard, ski, surf, skate, bike, kite, and wind communities) and Mervin Manufacturing (leading designer and manufacturer of snow boards and other board sports equipment).&nbsp;&nbsp;Formerly, Mr. Conacher was the Chairman of Wunderlich Securities.&nbsp;&nbsp;Dakine, Mervin and Wunderlich are Altamont Capital companies.&nbsp;&nbsp;To allow for this appointment, the Board increased its size to ten directors.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Conacher&#8217;s appointment is pursuant to a Letter Agreement entered into between Destination XL and Cannell Capital LLC, as of June 11, 2018, after a thorough review process by its Nominating and Corporate Governance Committee.&nbsp;&nbsp;The agreement also provides for Mr. Conacher&#8217;s nomination to the Board at the Company&#8217;s upcoming 2018 annual meeting on August 9, 2018, and the reversion of its Board size to nine directors at that meeting.&nbsp;&nbsp;Pursuant to the agreement, Cannell Capital has agreed to withdraw its other nominees to the Board and to certain standstill and voting provisions until January 29, 2019.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;We are pleased to reach an agreement that brings new perspectives to our Board of Directors,&#8221; said David Levin, the Company&#8217;s President, CEO and a member of the Board. </p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The complete agreement will be included as an exhibit to the Company&#8217;s current report on Form 8-K, which will be filed with the Securities and Exchange Commission.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-weight:bold;font-size:9.5pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">About Destination XL Group, Inc.</p>
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:1.07%;margin-right:1.92%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Destination XL Group, Inc. is the largest omni-channel specialty retailer of big &amp; tall men's apparel with store locations throughout the United States and in London, England and Ontario, Canada. The retailer operates under five brands: DXL, Casual Male XL, Rochester Clothing, ShoesXL and LivingXL. The Company also operates an e-commerce site at <font style="text-decoration:underline;">www.destinationxl.com</font>. With more than 2,000 private label and name brand styles to choose from, big and tall customers are provided with a unique blend of wardrobe solutions not available at traditional retailers. The Company is headquartered in Canton, Massachusetts. For more information, please visit the Company's investor relations website: <font style="text-decoration:underline;">http://investor.destinationxl.com</font>.</p>
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:1.07%;margin-right:1.92%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contact:</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ICR, Inc.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investors:</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:1.07%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:4pt;margin-bottom:0pt;margin-left:1.08%;margin-right:67.31%;text-indent:0%;font-size:9.5pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tom Filandro, 646-277-1235 Tom.Filandro@icrinc.com</p>
<p style="margin-top:4pt;margin-bottom:0pt;margin-left:1.08%;margin-right:67.31%;text-indent:0%;font-size:9.5pt;font-family:Times New Roman;">&nbsp;</p></body>
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