Exhibit 10.26
AMENDMENT
TO TIME BROKERAGE AGREEMENT
This Amendment to Time Brokerage Agreement (the "Amendment") is made
and entered into as of May 20th, 1998 by and between The Freedom Network, Inc.,
a Delaware corporation ("Freedom"), and Radio Unica Corp., a Delaware
corporation ("Programmer").
WHEREAS, an application is pending before the Federal Communications
Commission ("FCC") to assign the license for commercial AM broadcast station
KDFT(AM), licensed to broadcast on frequency 000 xXx xx Xxxxxx, Xxxxx (the
"Station"), to Freedom;
WHEREAS, Freedom has entered into a Time Brokerage Agreement ("LMA")
with the licensee of Station to broker broadcast time on Station in accor dance
with the FCC rules;
WHEREAS, Freedom and Programmer have entered into a separate Time
Brokerage Agreement, dated as of April 27, 1998 ("TBA"), through which Program
mer agreed to purchase time on and to provide radio programming to the Station
and to sell advertising time for inclusion in said programming, all subject to
the terms of the LMA;
WHEREAS, the term of the TBA commenced May 18, 1998 (the "Com mencement
Date") and shall continue until May 18, 2000 unless extended by
mutual agreement of the parties or terminated sooner pursuant to the terms of
the TBA;
WHEREAS, pursuant to the terms of the TBA, Programmer has made an
advance payment to Freedom;
WHEREAS, Freedom now desires to obtain additional programming from
Programmer for the Station on Monday through Friday of each week and Program mer
desires to make such programming available, on the terms provided for herein;
WHEREAS, the parties desire to amend the TBA to provide for such addi
tional weekly programming and to adjust the payments to Freedom accordingly;
NOW, THEREFORE, in consideration of the foregoing and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowl edged, Freedom and Programmer do hereby agree that the TBA is amended to
provide that:
1. Section 4.1 of the TBA is hereby amended to provide that, starting
May 20, 1998, and throughout the term of the TBA, Freedom shall make available
to Programmer all of the broadcast time on the Station (i) from 7:00 a.m. until
5:00 p.m., Central Time, on a daily basis, Monday through Friday of each week,
and from (ii) 10:00 a.m. until 5:00 p.m., Central Time, each Saturday ("the
Programmer Time"). Freedom's obligation to make available all necessary time
required by Programmer to carry all World Cup soccer matches, as set forth in
Attachment II of the TBA, shall remain unchanged.
2. Attachment I of the TBA is hereby amended to provide that Program
mer shall compensate Freedom for the broadcast time made available at the rate
of Forty Four Thousand, Seven Hundred and Eighty Six Dollars ($44,786.00) per
month from the Commencement Date until May 30, 1999, with the month of May, 1998
to be prorated at Nineteen Thousand, Five Hundred and Eighty Three Dollars
($19,583.00); which monthly payment shall increase to Fifty Six Thousand, Five
Hundred and Forty Six Dollars ($56,546.00) per month from June 1, 1999 until May
18, 2000, with the month of May, 2000 to be prorated based upon the number of
hours of Programmer Time during which Programmer's programming is broadcast that
month multiplied by the rate of Two Hundred and Twenty Nine Dollars ($229.00)
per hour. Compensation for World Cup soccer matches shall remain as originally
provided in Attachment I.
3. Within two (2) days after the execution of this Amendment, Program
mer shall make an additional payment of Fifty One Thousand, Four Hundred and
Ninety-Four Dollars and forty-one cents ($51,494.41) to cover the increase in
the aggregate payment due in advance for the prorated portion of May, 1998 and
the months of June, 1998 through September, 1998.
4. Any provision in the TBA not specifically amended by this Amend ment
shall remain in full force and effect.
5. In the event of any conflict between the terms of this Amendment and
the TBA, the terms of this Amendment shall control.
6. This Amendment may be signed in one or more counterparts, each of
which shall be deemed a duplicate original, binding on the parties hereto
notwith standing that the parties are not signatory to the same counterpart.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the day and year first above written.
The Freedom Network, Inc.:
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx, President
Radio Unica Corp.:
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Xxxxxx Xxxxxxx, Executive Vice President
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the day and year first above written.
The Freedom Network, Inc.:
--------------------------------
Xxxx Xxxxxx, President
Radio Unica Corp.:
/s/ Xxxxxx Xxxxxxx
--------------------------------
Xxxxxx Xxxxxxx, Executive Vice President
