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Exhibit 10.29
November 16, 2000
National Broadcasting Company, Inc.
00 Xxxxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
Reference is made to (a) that certain Distribution and Marketing Agreement
dated as of March 8, 1999 (the "Distribution Agreement") by and between National
Broadcasting Company, Inc. ("NBC") and ValueVision International, Inc. ("VVI")
and (b) those certain 1,450,000 Common Stock Purchase Warrants represented by
that certain Warrant Certificate No. W-2 (and any replacement(s) thereof)
exercisable commencing April 22, 1999, issued by VVI to NBC (the "Initial
Distributor Warrants").
For value received, the sufficiency of which is hereby acknowledged, VVI
hereby acknowledges and agrees as follows:
(i) The Initial Distributor Warrants are hereby amended by replacing
Schedule A thereto with Schedule A attached hereto.
(ii) Effective as of May 31, 2000, NBC has achieved the Aggregate
Performance Target, as defined in Section 8(d) of the Distribution
Agreement.
This letter shall be governed by and construed in accordance with the laws
of the State of New York applicable to contracts to be executed and performed in
that state.
Please indicate your concurrence with the foregoing by signing where
indicated below.
Very truly yours,
VALUEVISION INTERNATIONAL, INC.
By: /s/ Xxxxxx X. Xxxxx
-------------------------------------
Senior Vice President and General
Counsel
We concur:
NATIONAL BROADCASTING COMPANY, INC.
By: /s/ Xxxxx Xxxxxxxx
---------------------------------------
Vice President of Corporate Development
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Schedule A
SCHEDULE OF VESTING
Date Warrants Vesting on Date
---- ------------------------
April 22, 1999 200,000
April 22, 2000 125,000
November 16, 2000 1,125,000
