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[PRINCETON VIDEO IMAGE, INC.XXXXXXXXXX]
July 23, 2001
Presencia en Medios, S.A. de C.V.
Palmas #735-206
Mexico, DF 11000
MEXICO
Attn: Xx. Xxxxxxx Xxxx
Re: Reorganization Agreement dated as of December 28, 2000 by and among
Presencia en Medios, S.A. de C.V., Xxxxxxx Xxxx, Xxxxx Xxxx, Xxxxxxx Xxxxxxxx,
Presence in Media LLC, Virtual Advertisement LLC, PVI LA, LLC, Princeton Video
Image, Inc. and Princeton Video Image Latin America, LLC, as amended by
Amendment Agreement dated as of February 4, 2001 (collectively, the "Agreement")
Dear Xx. Xxxx:
This will confirm the understanding of the parties regarding the above
referenced Agreement.
Section 10.2 of the Agreement is hereby amended to read in its entirety
as follows:
10.2 Cut-Off Date. By the Purchaser or the Seller upon five
(5) days' notice to the other if the Closing shall not have
occurred on or before September 30, 2001 or such other date,
if any, as the Seller and the Purchaser shall agree upon in
writing;
The authorized signatures below will confirm the amendment to Section
10.2 of the Agreement set forth above. Your attention to this matter is greatly
appreciated.
Sincerely,
/s/ Xxxxxx X. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
President and Chief Executive Officer
ACCEPTED AND AGREED TO:
Presencia en Medios, S.A. de C.V.:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title: Director General
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Date: July 23, 2001
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Presence in Media LLC:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title:
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Date: July 23, 2001
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Virtual Advertisement LLC:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title:
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Date: July 23, 2001
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PVI LA, LLC:
By: /s/ Xxxxx Xxxx
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Name: Xxxxx Xxxx
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Title:
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Date: July 23, 2001
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Princeton Video Image Latin America, LLC:
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
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Title: President - CEO
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Date: July 25, 2001
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DESIGNATED PARTIES:
/s/ Xxxxxxx Xxxx
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Xxxxxxx Xxxx
/s/ Xxxxx Xxxx
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Xxxxx Xxxx
/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx Xxxxxxxx
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CONSENTED TO:
PVI Holding, LLC:
By: /s/ Xxxxxx Xxxxx
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Name: Xxxxxx Xxxxx
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Title: Vice Chairman
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Date: July 24, 2001
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