Confidential License Agreement [Amendment] - LodgeNet Entertainment Corp. and Nintendo of America Inc.
December 12, 2001
President and CEO
LodgeNet Entertainment Corporation
3900 West Innovation Street
Sioux Falls, South Dakota 57107-7002
Nintendo is proud to have worked with your company over the past 8 years to market the highly successful Nintendo video game systems to your hotel customers. Our current License Agreement, dated May 12, 1998, continues through the year 2008, reflecting our mutual confidence in the future of our relationship and our commitment to the provision of quality entertainment products to your hotel customers and guests.
You have recently discussed with us the current economic crisis in the lodging industry that has resulted from the terrorist attacks on September 11, 2001. You have asked for our assistance in providing some temporary economic relief as you and your customers work to rebuild business and economic stability in the wake of the significant impacts from the September 11 attacks.
In recognition of our longstanding partnership with LodgeNet, Nintendo is offering to extend the following temporary pricing discounts to LodgeNet:
|For the period commencing January 1, 2002 and ending June 30, 2002, per Room royalties for the Licensed Games shall be the greater of (a) *** or (b) *** per Room per calendar month or any portion thereof.|
This royalty discount is made in an effort to address a severe and, hopefully, temporary short-term economic problem in the lodging industry and is not in any way an admission of any obligation of Nintendo. The discounted royalties provided for herein are limited to the time period stated and are subject to the requirement of timely payment. submission of complete and accurate royalty reports and full compliance with all other terms and conditions of the License
Agreement between the parties. Capitalized terms used herein are as defined in the License Agreement. All other terms and conditions of the License Agreement remain unchanged.
This letter and its contents will be confidential and will not be disclosed by Nintendo or LodgeNet, except to our authorized representatives and to our respective parent corporations.
If you are agreeable to these terms, please sign and date one copy of this letter and return it to me by facsimile (425-882-3585).
We took forward to the rebuilding of economic prosperity in your industry and to moving forward with our business relationship.
|NINTENDO OF AMERICA INC.|
|/s/ C. Peter Eck|
|C. Peter Eck|
|Director, Network Planning|
This letter and the terms set forth herein are agreed to:
|By:||/s/ Scott Petersen|
|Its:||President and CEO|
|Date:||December 19, 2001|
|Vice President Guest Pay Services, LodgeNet|
|Via Facsimile: 605-988-1499|