Document:

Amendment 1 to IPO and Split Agreement

 Exhibit 10.1 
 AMENDMENT NO. 1 TO THE AMENDED AND RESTATED 
 INITIAL PUBLIC OFFERING AND SPLIT-OFF AGREEMENT 

 Dated as of October 24, 2008 
 AMENDMENT NO. 1 TO THE AMENDED AND RESTATED INITIAL PUBLIC OFFERING AND SPLIT-OFF AGREEMENT (this “Amendment”) between Blockbuster Inc., a Delaware corporation (“Blockbuster”),
and Viacom Inc., a Delaware corporation (“New Viacom”). 
 PRELIMINARY STATEMENTS: 
 (1)        CBS Corporation, a Delaware corporation formerly known as Viacom Inc. (“Viacom”), CBS
Operations Inc., a Delaware corporation formerly known as Viacom International Inc. (“Viacom International”), and Blockbuster entered into that certain Amended and Restated Initial Public Offering and Split-Off Agreement dated as of
June 18, 2004 (as amended, supplemented or otherwise modified through the date hereof, the “IPO and Split-Off Agreement”; terms defined therein unless otherwise defined herein being used herein as therein defined). 

(2)        On December 31, 2005, Viacom was separated into two separate, publicly traded companies,
Viacom and New Viacom (the “Separation”). 
 (3)        In connection with the
Separation, Viacom and New Viacom entered into that certain Separation Agreement dated as of December 19, 2005 (the “Separation Agreement”), pursuant to which Viacom and New Viacom agreed to the allocation of certain existing
contractual rights and obligations of Viacom and its subsidiaries among Viacom and New Viacom and their respective subsidiaries, including, without limitation, in respect of the Guaranteed Leases and the Letters of Credit. 
 (4)        Viacom, Viacom International, New Viacom, Viacom International Inc., a Delaware corporation and a
wholly-owned subsidiary of New Viacom, and Blockbuster have entered into that certain letter agreement dated as of October 24, 2008, pursuant to which Blockbuster has consented to the assignment set forth in the Separation Agreement by Viacom
and Viacom International of the rights, benefits, obligations, liabilities and duties of Viacom and Viacom International under the IPO and Split-Off Agreement to New Viacom, and the assumption by New Viacom of all such rights, benefits, obligations,
liabilities and duties of Viacom and Viacom International. 
 (5)        Simultaneously with the
execution of this Amendment, in exchange for good and valuable consideration including the reduction in the required available amount of the Letters of Credit effectuated hereby, Blockbuster has remitted or credited to New Viacom an amount in cash
equal to $1,000,000, in connection with advancing various litigation-related expenses referred to in separate correspondence between the parties (the “Expenses”). 
 (6)        New Viacom has requested that Blockbuster agree, and Blockbuster has agreed, to amend certain
provisions of the IPO and Split-Off Agreement and to cause each issuer of existing Letters of Credit to issue replacement Letters of Credit for the benefit of New Viacom, in each case on the terms set forth herein. 

 SECTION 1.        Amendments to IPO and Split-Off
Agreement    The IPO and Split-Off Agreement is, effective as of the Amendment No. 1 Effective Date (as defined in Section 3 below), hereby amended as follows: 
 (a)        The definition of “Affiliates” in Section 1.01 is hereby deleted in its entirety and
replaced with the following: 
 “‘Affiliates’ means, with respect to any specified Person, any Person that directly, or
indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with such specified Person. For the purpose of this Agreement, Affiliates of Viacom shall include current and former Affiliates of Viacom.”

 (b)        The definition of “Required Amount” in Section 1.01 is hereby deleted in
its entirety and replaced with the following: 
 “‘Required Amount’ means, the lesser of (a) $150,000,000, which
shall be reduced to $75,000,000 as of October 24, 2008 and (b) on any date of determination pursuant to Section 5.05(i), 75% of the Nominal Amount of all outstanding Guaranteed Leases. For purposes of calculating the Required Amount
as used in Section 5.05(i) hereof, the amount of $150,000,000 (or as of October 24, 2008, $75,000,000) used in the foregoing sentence shall be reduced by any amounts previously drawn by Viacom under any Letter of Credit, to the extent not
returned to Blockbuster pursuant to Section 5.05(l) hereof (provided that such reduced amount shall in no event be less than zero). At no time shall Viacom be entitled to draw amounts under the Letter of Credit that exceed, in the aggregate,
$150,000,000 (or as of October 24, 2008, $75,000,000) for all such amounts drawn.” 
 (c)        Section 3.03 is hereby amended by making the following changes thereto: 
 (i)        Clause (ix) of Section 3.03(a) is hereby deleted in its entirety and replaced with the words “INTENTIONALLY OMITTED”; 
 (ii)        The proviso immediately after clause (xi) in Section 3.03(a) is hereby deleted in its
entirety; and 
 (iii)        Section 3.03(b) is hereby amended by adding at the end of clause
(x) thereof the following: 
 “or (iii) any and all fees and expenses (including, without limitation, bank
fees, bank underwriting fees and charges, documentation fees, the Applicable Margin Portion (as defined above) of interest costs, fronting fees, and attorneys’ fees and expenses and any interest costs in addition to the Applicable Margin
Portion) incurred by Blockbuster in connection with the establishment and maintenance of (A) the Letter of Credit Facility for the benefit of Viacom referenced in Section 5.05 of this Agreement, (B) the Letter of Credit in favor of
Viacom issued pursuant to the Letter of Credit Facility referenced in Section 5.05 of this Agreement, and (C) any replacements or substitutions for (A) and/or (B) put in place by Blockbuster pursuant to Section 5.05 of this
Agreement”. 

 (d)        Section 5.05(c) is hereby amended by deleting the
reference to “November 30 and May 31” in the last sentence thereof and replacing such reference with “October 31 and April 30”. 
 (e)        Section 5.05(e) is hereby amended by deleting the reference to “November 30 and May 31” in the second sentence thereof and replacing such
reference with “October 31 and April 30”. 
 (f)        Section 5.05(h) is hereby
deleted in its entirety and replaced with the following new clause (h): 
 “(h)        On or
before the Distribution Date, Blockbuster shall enter into a Letter of Credit Facility providing for the issuance of the Letter of Credit in an available amount of $150,000,000 (which Letter of Credit Facility may be modified or replaced from and
after October 24, 2008 to provide for an available amount of $75,000,000) and will cause to be issued thereunder a Letter of Credit in an amount equal to the Required Amount, calculated as of 15 days prior to the Declaration Date, for the
benefit of Viacom, drawable on and after the Split-Off Date (except as otherwise provided on Annex I) on the conditions set forth on Annex I.” 
 (g)        Section 5.05(j) is hereby deleted in its entirety and replaced with the following new clause (j): 
 “(j)        On or after the Split-Off Date and until the Guarantee Termination Date, in the event (i) any payment has been made under any Guarantee by Viacom or its
Affiliates at any time, (ii) any third party costs and expenses (including without limitation, brokerage fees and attorneys’ fees and expenses incurred in good faith) have been reasonably incurred in the course of negotiating, settling or
mitigating any Losses arising out of or relating to any Guarantee or in connection with any action or proceeding for the enforcement of Viacom’s right to draw on the Letter of Credit as permitted hereunder (to the extent Viacom is the
prevailing party in such action or proceeding) which have not been reimbursed by Blockbuster within 20 days of receipt of notice from Viacom requesting payment of such amounts, or (iii) Viacom is required by law or by court proceedings to pay
back and has paid back any of the Expenses to Blockbuster or its Affiliates, in each case Viacom may draw on the Letter of Credit an amount equal to up to 100% of all such payments (not to exceed the Available Amount); provided that prior to any
such draw, Viacom shall have certified in writing to Blockbuster that Viacom has complied with its obligations under Section 5.05(k).” 
 (h)        Section 5.05(l) is hereby amended by deleting clause (i) in the first proviso therein in its entirety and replacing it with the following new clause (i): 
 “(i)        Viacom shall use the proceeds from the Guaranty Bank Account only (A) to reimburse Viacom
for any payments made under any Guarantee in accordance with this Section 5.05, (B) for any third party costs and expenses (including without limitation, brokerage fees and attorneys’ fees and expenses incurred in good faith)
reasonably incurred in the course of negotiating, settling or mitigating any Losses arising out of or relating to any Guarantee or in connection with any action or proceeding for the enforcement of Viacom’s right to draw on the Letter of Credit
as permitted hereunder (to the extent Viacom is the prevailing party in such action or proceeding) which have not been reimbursed by Blockbuster within 20 days of receipt of notice from Viacom requesting payment of such amounts, (C) to pay
taxes on any interest accrued on the amounts held in such account and (D) to reimburse Viacom for any Expenses it is required by law or by court proceedings to pay back and has paid back to Blockbuster or its Affiliates,” 

 (i)        Section 5.05(n) is hereby deleted in its entirety
and replaced with the following new clause (n): 
 “(n)        In no event shall Viacom and its
Affiliates be liable for any fees, expenses and commissions in respect of the Letter of Credit Facility to the extent arising from and after October 24, 2008.” 
 (j)        Annex I is hereby deleted in its entirety and replaced with the following new Annex I: 
 “The Letter of Credit may be drawn on the conditions and in the amounts specified below: 
         (i)        at any time on or after the Split-Off Date, upon the
presentation to the issuer(s) of the Letter of Credit of a certificate by any authorized executive officer of Viacom confirming that (A) payment has been made under any Guarantee in accordance with Section 5.05 of this Agreement, 100% of
such payment, (B) any third party costs and expenses (including without limitation, brokerage fees and attorneys’ fees and expenses incurred in good faith) have been reasonably incurred in the course of negotiating, settling or mitigating
any Losses arising out of or relating to any Guarantee or in connection with any action or proceeding for the enforcement of Viacom’s right to draw on the Letter of Credit as permitted hereunder (to the extent Viacom is the prevailing party in
such action or proceeding) and such amounts (or any portion thereof) have not been reimbursed by Blockbuster within 20 days of receipt of notice from Viacom requesting payment of such amounts, 100% of such payments, expenses or costs incurred, or
(C) Viacom has been required by law or by court proceedings to pay back and has paid back any of the Expenses to Blockbuster or its Affiliates, 100% of such payment; or 
         (ii)        at any time on or after the Distribution Date, upon
presentation to the issuer(s) of the Letter of Credit of a certificate by any authorized executive officer of Viacom confirming that a replacement Letter of Credit from an Approved L/C Issuer has not been issued to Viacom, as required under
Section 5.05 of the Agreement, at least 15 business days prior to the expiration of this Letter of Credit, the full Available Amount.” 
 SECTION 2.        Replacement of Letters of Credit; Certain Rights    Blockbuster hereby agrees, pursuant to Section 2.06(b) of the Blockbuster Credit Agreement (as
defined below), as promptly as practicable (but in any event no later than 30 days following the Amendment No. 1 Effective Date), to cause each issuer of a Viacom LC (as defined in the Blockbuster Credit Agreement) to issue a replacement Viacom
LC, which replacement Viacom LC shall have substantially the same terms (except to the extent modified (i) by this Amendment and (ii) by any such changes as New Viacom may agree in its reasonable discretion) as the existing Viacom LC, in
each case for the benefit of New Viacom. “Blockbuster Credit Agreement” means that certain Credit Agreement dated as of August 20, 2004 among Blockbuster, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the
lenders and other agents parties thereto, as amended, restated, supplemented or otherwise modified through the date hereof. New Viacom hereby agrees, pursuant to Section 2.09(g) of the Blockbuster Credit Agreement, as promptly as practicable
(but in any event no later than 10 days following the Amendment No. 1 Effective Date), to deliver or cause its Affiliates to deliver to Blockbuster for delivery to the administrative agent under the Blockbuster Credit Agreement, a certificate
executed by an executive officer of New Viacom stating that New Viacom consents to a reduction in the Viacom Reserve Amount (as defined in the Blockbuster Credit Agreement) from $150,000,000 to $75,000,000 as of October 24, 2008. 

 SECTION
3.        Effectiveness    This Amendment shall become effective as of the date first written above (the “Amendment No. 1 Effective Date”) upon receipt by each
party hereto of a counterpart to this Amendment executed by each other party hereto. 
 SECTION
4.        Reference to and Effect on the IPO and Split-Off Agreement    (a)        On and after the Amendment No. 1 Effective Date,
(i) each reference in the IPO and Split-Off Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the IPO and Split-Off Agreement shall mean and be a reference to the IPO and
Split-Off Agreement, as amended by this Amendment and (ii) each reference in the IPO and Split-Off Agreement to “Viacom” and “Viacom International” shall be deemed to refer to “New Viacom”, in accordance with the
terms of the Separation Agreement, except (A) to the extent any such references pertain specifically to the guarantor under any Guarantee and/or Guaranteed Lease, which for purposes of the Guaranteed Leases, must remain references to Viacom or
any of its Affiliates as guarantor(s) thereunder and (B) the references in Section 5.05(k) thereof to the entity making payments under any Guarantee shall be deemed to be references to either Viacom or New Viacom and their respective
Affiliates, as the case may be. 
 (b)        The IPO and Split-Off Agreement, as specifically
amended by this Amendment, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. 
 (c)        The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any party under the IPO and
Split-Off Agreement, nor constitute a waiver of any provision of any of the IPO and Split-Off Agreement. 
 SECTION
5.        Execution in Counterparts    This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by fax shall be effective as delivery of a manually
executed counterpart of this Amendment. 
 SECTION 6.        Governing
Law    This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

			
	BLOCKBUSTER INC.
		
	By:	 	/s/ Eric Peterson
		 	 Name: Eric Peterson
 Title: Executive Vice President

  

			
	VIACOM INC.
		
	By:	 	/s/ Michael D. Fricklas
		 	 Name: Michael D. Fricklas
 Title: Executive Vice
President, General
 Counsel and SecretaryLetter Agreement dated October 24, 2008

 Exhibit 10.2 
 October 24, 2008 
 Blockbuster Inc.

 1201 Elm Street 
 Suite 2100 
 Dallas, TX 75270 
 Attn:    Eric H. Peterson, Executive
Vice President, General Counsel & Secretary 
 Re: IPO and Split-Off and Related Agreements and Letters of Credit 

Dear Mr. Peterson: 
 Reference is made to
(i) the Amended and Restated Initial Public Offering and Split-Off Agreement dated as of June 18, 2004 (the “IPO Agreement”) among the company formerly named Viacom Inc. (“Old Viacom”), the company
formerly named Viacom International Inc. (“Old Viacom International”) and Blockbuster Inc. (“Blockbuster”), (ii) the Amended and Restated Release and Indemnification Agreement dated as of June 18, 2004
between Old Viacom and Blockbuster, as amended by letter agreement dated as of August 26, 2004, (iii) the Amended and Restated Registration Rights Agreement dated as of June 18, 2004 between Old Viacom and Blockbuster, (iv) the
Amended and Restated Transition Services Agreement dated as of June 18, 2004 between Old Viacom and Blockbuster, (v) the Amended and Restated Tax Matters Agreement dated as of June 18, 2004 between Old Viacom and Blockbuster,
(vi) the Insurance Agreement dated as of June 18, 2004 between Old Viacom and Blockbuster, and (vii) the Agreement dated as of June 18, 2004 among Old Viacom, Paramount Home Entertainment, Inc., Sumner Redstone and Blockbuster
(collectively, the “Full Split-Off Documents”). Reference is further made to the Letters of Credit provided by Blockbuster for the benefit of Old Viacom and Old Viacom International pursuant to the IPO Agreement. Capitalized terms
used but not otherwise defined herein have the meanings ascribed to such terms in the Full Split-off Documents. 
 Old Viacom, Old Viacom
International, current Viacom Inc. (“New Viacom”) and current Viacom International Inc. (“New Viacom International”) each represents and warrants to Blockbuster that as of the closing of the separation of Old Viacom
on December 31, 2005 (the “Viacom Separation Closing”), as described in Old Viacom’s Prospectus-Information Statement on Form S-4 filed with the SEC and declared effective on November 28, 2005 (the
“S4”): (i) Old Viacom changed its corporate name to CBS Corporation; (ii) New Viacom received the assets, subject to the liabilities, of the businesses to be operated and liabilities to be assumed by New Viacom as
described in the S4; (iii) New Viacom is a separate publicly-traded corporation listed on the NYSE; (iv) substantially all of the assets of Old Viacom prior to the Viacom Separation Closing were held immediately following the Viacom
Separation Closing by either Old Viacom or New Viacom, and, specifically, Old Viacom International remained a wholly-owned subsidiary of Old Viacom and was renamed CBS Operations Inc.; and (v) a new entity named Viacom International Inc. is a
wholly-owned subsidiary of New Viacom. 

 Old Viacom, Old Viacom International, New Viacom and New Viacom International each further represents and
warrants to Blockbuster that pursuant to the Separation Agreement dated as of December 19, 2005 between Old Viacom and New Viacom filed on Form 8-K with the SEC on December 21, 2005 (the “Separation Agreement”; such
agreement and related agreements being the “Separation Documents”), Old Viacom and Old Viacom International assigned, subject to obtaining the consent of Blockbuster as required by the agreements described in items (i), (ii),
(iv) and (vi) in the first paragraph of this letter agreement (collectively, the “Split-Off Documents”) and as contemplated in the Separation Agreement, all of their rights, benefits, obligations, liabilities and duties
under the Full Split-Off Documents to New Viacom, and New Viacom assumed such obligations, liabilities and duties of Old Viacom and Old Viacom International thereunder. 
 As of the date of this letter agreement, Blockbuster hereby ratifies and consents to the assignment by Old Viacom and Old Viacom International of all of their rights, benefits, obligations, liabilities and duties
under the Split-Off Documents to New Viacom, and the assumption by New Viacom of all of the rights, benefits, obligations, liabilities and duties of Old Viacom and Old Viacom International thereunder. The parties agree that from and after the
effectiveness of the assignment of the Split-Off Documents contemplated hereby, (i) the obligations, liabilities and duties of Blockbuster to Old Viacom and Old Viacom International therein are deemed to be obligations, liabilities and duties
to New Viacom, and (ii) the obligations, liabilities and duties of Old Viacom and Old Viacom International to Blockbuster therein are deemed to be obligations, liabilities and duties of New Viacom; provided, however, that, notwithstanding
anything to the contrary herein, nothing in this letter agreement shall in any way constitute a waiver of any of the rights and remedies of any of the parties hereto with respect to each other under the Full Split-Off Documents and the Separation
Documents, as applicable, including, without limitation, any defense, setoff, claim or counterclaim, whether express, implied or available as a matter of law or in equity of any party against any other party under such agreements. The parties hereto
reserve all of their respective rights under such agreements, at law or in equity. 
 In consideration of the foregoing ratification and
consent by Blockbuster, Old Viacom, Old Viacom International, New Viacom and New Viacom International each covenants and agrees that from and after the date hereof (i) Old Viacom and Old Viacom International are not released from any of their
respective rights, benefits, obligations, liabilities and duties under the Full Split-Off Documents as a result of such assignment and assumption, and (ii) Old Viacom and Old Viacom International are jointly and severally liable with New Viacom
for all of the obligations, liabilities and duties owing to Blockbuster under the Full Split-Off Documents. 
 The parties further agree to
cooperate reasonably with each other to take all steps reasonably necessary or desirable to amend the Full Split-Off Documents within a reasonable time after the date hereof for the purpose of clarifying any instances in such documents in which any
references to “Viacom” or “Viacom International” contained therein need to remain a reference to Old Viacom and Old Viacom International, as the case may be, rather than New Viacom. 

 Except as reflected herein, the Full Split-Off Agreements remain unchanged and in full force and effect.
Notwithstanding anything to the contrary, this letter agreement does not in any way affect the Separation Documents, including, without limitation, Section 5.01(d) of the Separation Agreement and the obligations of New Viacom to indemnify,
defend and hold harmless Old Viacom and its subsidiaries with respect to Blockbuster and its affiliates, among other matters, in accordance with the terms and conditions thereof, which shall remain in full force and effect as if this letter
agreement had never been entered into by the parties hereto. 
 This letter agreement is governed by and will be construed in accordance with
the laws of the State of New York. 
 [THE BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK] 

 Please acknowledge your agreement with the terms of this letter by signing below and returning three
fully executed copies to New Viacom. 
  

			
	 Sincerely,
  
 CBS CORPORATION

		
	By:	 	/s/ Louis J. Briskman
		 	 Name: Louis J. Briskman
 Title: EVP & General
Counsel

	
	CBS OPERATIONS INC.
		
	By:	 	/s/ Louis J. Briskman
		 	 Name: Louis J. Briskman
 Title:
EVP

	
	VIACOM INC.
		
	By:	 	/s/ Michael D. Fricklas
		 	 Name: Michael D. Fricklas
 Title: Executive Vice
President

	
	VIACOM INTERNATIONAL INC.
		
	By:	 	/s/ Michael D. Fricklas
		 	 Name: Michael D. Fricklas
 Title: Executive Vice
President

  

			
	BLOCKBUSTER INC.
		
	By:	 	/s/ Eric Peterson
		 	 Name: Eric Peterson
 Title: Executive Vice President

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