March 6, 1997
Xxxxxx X. Xxxxxx, Xx.
Vice President - General Counsel
Xxxxxxx Communications, Inc.
000 Xxxxxxx Xxxxxxxxx
P. O. Box 989
Oaks, Pa 19456-0989
Re: LCI Indemnity of X. X. Xxxxxxx on Australis Movie Studio Agreements
Dear Xxx:
In consideration of the indemnity by Xxxxxxx New Jersey, Inc., Xxxxxxx York,
Inc., Xxxxxxx Raystay, Inc. and MicroNet, Inc. (to the extent MicroNet may incur
the indebtedness created by providing the indemnity without creating a default
under its borrowing agreements) of me for any loss I may suffer in making good
my personal guarantee to the movie studios under their license agreements with
Australis Media Limited, I release LCI and the Restricted Subsidiaries from
their indemnification obligation to me under the AML Movie Studio Guaranty
Liability until the last to occur of September 30, 1997 or the last day of any
fiscal quarter when the funding of such indemnity would not cause LCI to be in
default under the Agreement.
Capitalized terms not defined herein have the meaning given in the Credit
Agreement, dated as of June 27, 1996, among LCI and the banks party thereto.
In my absence, please prepare the necessary legal documentation to reflect this
arrangement, but in any event, LCI is released from its indemnity obligations as
of today.
Sincerely yours,
/s/ H. F. (Xxxxx) Xxxxxxx
X. X. (Xxxxx) Xxxxxxx
xx: X. Xxxxxx
X. Xxxxx
X. X. Xxxxx, Esq.
M. Glass, Toronto Dominion Bank
X. Xxxxxxx, Toronto Dominion Bank
