VALUEVISION MEDIA INC
EX-10
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<TYPE>EX-10
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 10pt"><B>EXHIBIT 10</B></FONT>



<P align="center" style="font-size: 10pt"><B>ValueVision Media, Inc.</B>



<P align="center" style="font-size: 10pt"><B>Resale Restriction Agreement</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">This Resale Restriction Agreement (this &#147;<B>Agreement</B>&#148;) dated as of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 200<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>is made by
and between ValueVision Media, Inc., a Minnesota corporation (the &#147;<B>Company</B>&#148;), and the option holder
set forth on the signature line below (the &#147;<B>Holder</B>&#148;) with respect to certain stock option award
agreements (the &#147;<B>Option Agreements</B>&#148;) entered into between the Company and the Holder.


<P align="center" style="font-size: 10pt"><B>Background</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">A.&nbsp;The Holder is an executive officer of the Company and has been granted one or more options
to acquire shares of common stock, par value $.01 per share (&#147;<B>Common Stock</B>&#148;), of the Company (the
&#147;<B>Shares</B>&#148;), at a per share price in excess of $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>(all of such options are collectively referred to
as the &#147;<B>Options</B>&#148;) under the Option Agreements.


<P align="left" style="font-size: 10pt; text-indent: 4%">B.&nbsp;Concurrently with the execution of this Agreement, all Options which have not vested on or
prior to the date of this Agreement have been declared by the Board of Directors (the &#147;<B>Board</B>&#148;) of
the Company to be fully vested and exercisable, effective upon execution of this Agreement.


<P align="left" style="font-size: 10pt; text-indent: 4%">C.&nbsp;As a condition to declaring such Options to be fully vested and exercisable, the Company
wishes to impose certain resale restrictions (the &#147;<B>Resale Restrictions</B>&#148;) on the Shares issued or
issuable upon exercise of the Options (the &#147;<B>Option Shares</B>&#148;) on the terms and conditions more fully
set forth herein.


<P align="left" style="font-size: 10pt; text-indent: 4%">D.&nbsp;Now, therefore, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows.


<P align="center" style="font-size: 10pt"><B>Agreement</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Exhibit&nbsp;A</U> sets forth, with respect to each Option, the date of each Option Agreement
(each, a &#147;<B>Grant</B>&#148;), the exercise price, the number of Option Shares and the date or dates of
termination of the Resale Restrictions with respect to the Option Shares (which shall
correspond to the vesting schedule applicable to the Options prior to the acceleration of
vesting approved by the Board). Subject to Section&nbsp;4, with respect to any Option Shares, the
period during which the Resale Restrictions will be effective (the &#147;<B>Restriction Period</B>&#148;) is a
period beginning on the date of this Agreement and ending on the date listed on <U>Exhibit
A</U> under the heading &#147;Restriction Termination Date&#148; with respect to such Option Shares. No
Resale Restrictions will apply to Option Shares which have vested on or prior to the date of
this Agreement.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Holder irrevocably agrees that the Holder will not, directly or indirectly, whether for
such Holder or on behalf of any entity such Holder controls or is affiliated with:</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>offer for sale, pledge, assign, hypothecate or otherwise create any interest in
or dispose of (or enter into any transaction or device that is designed to, or could
reasonably be expected to, result in any of the foregoing) any Option Shares during the
Restriction Period applicable to such Option Shares; or</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enter into any swap or other derivatives transaction that transfers to another,
in whole or in part, any of the economic benefits or risks of ownership of such Option
Shares during the Restriction Period applicable to such Option Shares, including, but
not limited to, short sales, puts, calls or other hedging transactions, including
private hedging transactions, whether any such transaction described in clause (a)&nbsp;or
(b)&nbsp;of this Section&nbsp;2 is to be settled by delivery of shares of Common Stock or other
securities of the Company, in cash or otherwise, during the Restriction Period with
respect to the applicable Option Shares.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company and its transfer agent are authorized to decline to make any transfer of
securities of the Company if such transfer would constitute a violation or breach of this
Agreement. Any attempted transfer by the Holder in breach of this Agreement will be null and
void. Any Option Shares subject to a Restriction Period may be retained in the physical
custody of the Company or may contain a restrictive legend, stop transfer order or other
applicable restriction, at the Company&#146;s sole discretion.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the foregoing, the Resale Restrictions will be subject to the following:</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon the occurrence of any event that, prior to the acceleration of vesting
approved by the Board, would have resulted in the acceleration of vesting of any Option
Shares, all of the Option Shares will become free from the Resale Restrictions; and</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon the occurrence of any event that would prevent any Option Shares from
vesting in accordance with the vesting schedule in effect prior to the acceleration of
vesting approved by the Board, the Restriction Period will be deemed to continue,
notwithstanding the applicable Restriction Terminate Date listed in <U>Exhibit&nbsp;A</U>,
until such time (if any) as such Option Shares would otherwise have vested in
accordance with the terms of such vesting in effect prior to the date of this
Agreement.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Holder hereby warrants and represents as follows:</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Holder is familiar with the terms of this Agreement, and the Holder has had
the opportunity to discuss in detail the terms of this Agreement with the Company and
with legal counsel representing the Holder; and</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Holder has the full authority and capacity to enter into and carry out all
the terms of this Agreement.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement, the applicable Option Agreements and the applicable stock incentive plan
(each, a &#147;<B>Plan</B>&#148;) under which the Option Agreements were issued, if any, constitute the entire
agreement of the parties with respect to the subject matter hereof and supersede in their
entirety all prior understandings and agreements of the Company and the Holder with respect to
the subject matter hereof, and this Agreement may not be modified except by means of a writing
signed by the Company and the Holder. The Resale Restrictions will not be deemed to
supersede, but shall be in addition to, any restrictions on resale of Option Shares pursuant
to an applicable Option Agreement or Plan.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement is to be construed in accordance with and governed by the laws of the State of
Minnesota, without respect to any choice of law provisions thereof.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this Agreement (except as expressly provided herein) is intended to confer any
rights or remedies on any persons other than the parties. Should any provision of this
Agreement be determined to be illegal or unenforceable, such provision will be enforced to the
fullest extent allowed by law and the other provisions shall nevertheless remain effective and
enforceable.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may be executed in counterparts, each of which will be deemed to be an
original, but all of which, together, will constitute one and the same instrument. A copy of
any signature page hereto executed and delivered by facsimile or other means of electronic
image transmission will have the same force and effect as an original thereof.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">The parties hereto have executed or caused this Agreement to be executed as of the day, month
and year first above written.


<P align="left" style="font-size: 10pt">COMPANY:
<BR>
VALUEVISION MEDIA, INC.


<P align="left" style="font-size: 10pt">By :
<BR>
Name:
<BR>
Its:


<P align="left" style="font-size: 10pt">OPTION HOLDER:

<DIV align="center">
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<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Date of Option</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number of Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Restriction</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" colspan="7" style="border-bottom: 1px solid #000000"><B>Plan Name (if any) Agreement</B></TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Exercise Price Shares</B></TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Termination Date</B></TD>
</TR>

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