Exhibit 10-20
ARTISTIC GREETINGS INCORPORATED AND VALASSIS COMMUNICATIONS, INC.
AMENDMENT TO ADVERTISING AGREEMENT
The Advertising Agreement, dated as of the 30th day of May, 1995, by
and between ARTISTIC GREETINGS INCORPORATED, a Delaware Corporation
(hereinafter "ARTISTIC"), and Valassis Communications, Inc., a Delaware
Corporation (hereinafter "Valassis") (a copy of which is attached hereto),
is hereby amended as follows:
Section 3(b) is hereby amended in its entirety as follows:
(b) "For any PSI advertising placed by ARTISTIC under this
Agreement, ARTISTIC shall pay Valassis the applicable prices as set
forth herein. Commencing on January 1, 1997, Valassis shall have the
right to increase the applicable prices as set forth in Schedule 1
hereto, on January 1, 1997, and then on the anniversary date of the
execution of this Agreement, no more than 3% each time during the term
hereof, provided, however, that if the price at which Valassis would
have sold the space purchased by Artistic to a third party drops
materially below the applicable price set forth in Schedule 1 hereto
such that the Schedule 1 price then in effect is uncompetitive, the
parties shall negotiate in good faith toward a reasonable decrease in
the Schedule 1 price then in effect. If the parties cannot agree on
such an adjustment, the Schedule 1 price then in effect shall remain
in force. For any other newspaper supplement or similar advertising,
including, without limitation, ROP and C&D County Inserts, placed by
ARTISTIC under this Agreement, ARTISTIC shall pay Valassis the market
prices for such products."
IN WITNESS WHEREOF, the parties hereto have executed this amendment as
of the 28th day of June, 1996.
ARTISTIC GREETINGS INCORPORATED Valassis Communications, Inc.
By:/s/ Xxxxxx X. Xxxxxxx By:/s/ Xxxxxx X. Xxxxxxx
Title: SVP and General Counsel Title: CFO
