Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Renewal Notice

On September 23, 2009, iParty Corp. (the "Company") notified Mr. Sal Perisano, the Company's Chief Executive Officer, and Ms. Dorice Dionne, the Company's Senior Vice President - Merchandising, pursuant to the terms of their respective employment agreements, that the Company intends to negotiate in good faith with respect to an extension of their employment agreements, which notice is described under their respective employment agreements as the renewal notice. By delivering the renewal notices, Mr. Perisano and Ms. Dionne's employment terms are extended for a period of six months, from March 31, 2010 to September 30, 2010, and the Company will enter into negotiations with Mr. Perisano and Ms. Dionne on the terms of new, mutually agreeable employment agreements.