EXHIBIT 99.5
PRINCETON VIDEO IMAGE, INC.
00 XXXXXXXX XXXX
XXXXXXXXXXXXX, XXX XXXXXX 00000
July 23, 2001
PVI Holding, LLC
c/o Cablevision Systems Corporation
0000 Xxxxxxx Xxxxxx
Xxxxxxxx, Xxx Xxxx 00000
Attention: General Counsel
Re: Stock and Warrant Purchase Agreement (the "Agreement"), dated as of
February 4, 2001, between Princeton Video Image, Inc. and PVI Holding, LLC.
Dear Sir or Madam:
This will confirm the understanding between Princeton Video Image, Inc.
and PVI Holding, LLC regarding the above referenced Agreement.
Section 10.2(iii) of the Agreement is hereby amended to read in its
entirety as follows:
(iii) by either party upon written notice to the other party if
the Second Closing has not occurred on or before September 30,
2001, in which case all parties shall be released from all
obligations hereunder other than obligations arising from a breach
or default hereunder, including Section 9.
The signature of an authorized officer of PVI Holding, LLC will confirm
the amendment to Section 10.2(iii) of the Agreement as set forth above. Your
attention to this matter is greatly appreciated.
Sincerely,
/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx
President and Chief Executive Officer
ACCEPTED AND AGREED TO:
PVI Holding, LLC:
By: /s/ Xxxxxx Xxxxx
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Name: Xxxxxx Xxxxx
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Title: Vice Chairman
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Date: July 24, 2001
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CONSENTED TO:
Presencia en Medios, S.A. de C.V.:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title: Director General
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Date: July 23, 2001
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Presence in Media LLC:
By: /s/ Xxxxx Xxxx
-----------------------------------
Name: Xxxxx Xxxx
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Title:
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Date: July 23, 2001
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Virtual Advertisement LLC:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title:
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Date: July 23, 0000
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XXX XX, LLC:
By: /s/ Xxxxx Xxxx
-----------------------------------
Name: Xxxxx Xxxx
---------------------------------
Title:
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Date: July 23, 2001
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Princeton Video Image Latin America, LLC:
By: /s/ Xxxxxx X. Xxxxxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxxxxx
---------------------------------
Title: President - CEO
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Date: July 25, 2001
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DESIGNATED PARTIES:
/s/ Xxxxxxx Xxxx
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Xxxxxxx Xxxx
2
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/s/ Xxxxx Xxxx
-------------------------------------
Xxxxx Xxxx
/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx Xxxxxxxx
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