THIRD AMENDMENT TO SEARCH SERVICES AGREEMENT
Exhibit 10.2
Execution Copy
THIRD AMENDMENT TO SEARCH SERVICES AGREEMENT
This Third Amendment to Search Services Agreement (“Third Amendment”) is entered into by and between AOL Inc. (successor-in-interest to AOL LLC), a Delaware corporation, with its principal place of business at 000 Xxxxxxxx, Xxx Xxxx, XX 00000 (“AOL”), and Time Inc. (“TI”), a Delaware corporation with offices at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, effective as of January 31, 2010 (the “Third Amendment Effective Date”).
INTRODUCTION
The Parties hereto wish to amend the Search Services Agreement entered into by and between the AOL and TI on August 23, 2007, as amended by the First Amendment dated as of March 10, 2009 and Second Amendment dated as of December 17, 2009 (collectively, the “Existing Agreement”). Together, the Existing Agreement and this Third Amendment shall be referred to collectively as the “Agreement”. Capitalized terms not defined in this Third Amendment shall have the meanings set forth in the Existing Agreement.
AGREEMENT
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby amend the Existing Agreement as follows:
| 1. | Term. Section 6.1 (titled, “Term”) of the Existing Agreement is hereby deleted in its entirety and replaced with the following: |
“This Agreement will commence on the Effective Date and shall expire at 11:59 p.m. (EST) on February 28, 2010, unless terminated earlier as provided for in this Agreement (the “Term”). TI may terminate this Agreement upon no less than three (3) days prior written notice to AOL if Google is prepared to provide search services directly to TI.”
| 2. | Order of Precedence; Entire Agreement. Except as expressly modified by this Third Amendment, all terms and conditions, and provisions of the Existing Agreement shall continue in full force and effect. In the event of conflict between the terms and conditions of the Existing Agreement and the terms and conditions of this Third Amendment, the terms and conditions of this Third Amendment will control. The Existing Agreement, together with any exhibits, and schedules attached thereto and referenced therein, all as modified by this Third Amendment, constitutes the entire and exclusive agreement between the Parties with respect to the subject matter thereof. |
| 3. | Counterparts; Facsimile. This Third Amendment may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. This Third Amendment may be executed by signatures transmitted by facsimile. |
IN WITNESS WHEREOF, the Parties have caused this Third Amendment to Search Services Agreement to be signed by their duly authorized representatives and delivered as of the dates set forth below.
| TIME INC. | ||||||||
| By: | /s/ Xxxxxx Xxxx |
By: | /s/ Xxxx Xxxx | |||||
| Name: | Xxxxxx Xxxx | Name: | Xxxx Xxxx | |||||
| Title: | VP, Business Development | Title: | GM & SVP News Business Unit | |||||
| Date: | 1/29/10 | Date: | 01/29/2010 | |||||
| Confidential |
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