Extension of Location Rental Agreement
EXHIBIT 10.2
Extension of Location Rental Agreement
Dear Xxxxxx:
We write with respect to that certain Location Rental Agreement (the “Agreement”) by and between
Xxxxxx Xxxxxxx Living Omnimedia, Inc. (“MSLO”), a Delaware corporation, and you, entered into as of
September 17, 2004.
We acknowledge that the Agreement is scheduled to expire by its terms on September 17, 2007. We
also acknowledge that the Agreement will be replaced by an Intangible Asset License Agreement.
Notwithstanding the expiration of the Agreement and pending the negotiation of the Intangible Asset
License Agreement, MSLO agrees to pay you the Enhanced Payment Amount, described in the
second-numbered paragraph of the Agreement, on September 17, 2007 (the “Payment”) in order
to continue to have access to the Real Property. MSLO’s use of the Real Property following the
term will be consistent with the historic practices between you, your company, MSRE, and MSLO.
MSLO looks forward to good faith negotiations with you regarding the Intangible Asset License
Agreement, beginning promptly. MSLO considers the Payment a payment to allow for continued access
to the Real Property pending the finalization and execution of the new agreement. The Payment
shall not be construed as the satisfaction of any other obligations MSLO has to you under any other
agreement or arrangement. Nothing contained herein shall in any way compromise the rights of the
parties with respect to future negotiations and/or prior agreements or arrangements.
Please acknowledge your understanding and acceptance of these terms by executing below where
indicated and returning a copy to us.
Best regards,
/s/ Xxxxxx Xxxxxxxxxx
Xxxxxx Xxxxxxxxxx
Chief Financial Officer
Chief Financial Officer
Agreed to, acknowledged and accepted:
/s/ Xxxxxx Xxxxxxx |
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