Print Agreement [Amendment] - Playboy Enterprises Inc. and Quad/Graphics Inc.
[LETTERHEAD OF QUAD/GRAPHICS]
April 11, 1990
Mr. John Mastro
PLAYBOY ENTERPRISES, INC.
680 North Lake Shore Drive
Chicago, IL 60611
Dear John:
The understanding reached between Quad/Graphics, Inc. and Playboy Enterprises,
Inc. relative to the printing of certain titles is as follows:
"Quad/Graphics agrees that during the first two years of the Contract to
print PLAYBOY it will not print the publication PENTHOUSE. During the
remaining term of the contract, Quad/Graphics will not print PENTHOUSE
without prior approval from Playboy Enterprises, Inc. Quad agrees that
Playboy need not be reasonable in withholding such approval and that breach
of this provision by Quad could have a material adverse effect on Playboy
and its business. Quad understands that remedies at law may be inadequate
to protect Playboy against such breach and Quad agrees to the granting of
injunctive relief in Playboy's favor should Quad breach this provision."
If this accurately reflects our understanding, please sign and return.
ACCEPTED AND AGREED TO: ACCEPTED AND AGREED TO:
QUAD/GRAPHICS, INC. PLAYBOY ENTERPRISES, INC.
By /s/ Carl L. Bennett By Howard Shapiro
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Its VP Its Exec. V.P.
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Date 4/11/90 Date 4/12/90
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Sincerely,
/s/ Carl L. Bennett
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Carl L. Bennett
Vice President
QUAD/GRAPHICS, INC.