Document:

Exhibit
10.2

Execution
Copy

LIMITED
GUARANTEE

Limited Guarantee, dated as of June 26, 2006 (this “Limited
Guarantee”), by [                ] (the
“Guarantor”), in favor of Univision Communications Inc., a Delaware
corporation (the “Guaranteed Party”). Capitalized terms used herein
without definition have the meanings given to them in the Merger Agreement (as
defined below).

                1.             LIMITED GUARANTEE. To induce
the Guaranteed Party to enter into an Agreement and Plan of Merger, dated as of
June 26, 2006, (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Merger Agreement”), by and
between Umbrella Holdings, LLC, a Delaware limited liability company in which
the Guarantor proposes to invest (“Buyer”), Umbrella Acquisition, Inc.,
a Delaware corporation and a wholly-owned subsidiary of Buyer (“Acquisition
Sub”), and the Guaranteed Party, pursuant to which Acquisition Sub will
merge with and into the Guaranteed Party, the Guarantor hereby absolutely,
unconditionally and irrevocably guarantees to the Guaranteed Party, the due,
punctual and complete payment of [   ]%
of the Buyer Termination Fee and Buyer’s obligations for intentional breach of
the Merger Agreement or fraud not to exceed [  
]% of the Intentional Breach Damages Cap (the “Obligations”); provided,
however, that the maximum aggregate liability of the Guarantor hereunder
shall not exceed (a) U.S.$ [     ] in
the event of fraud or intentional breach by Buyer; (b) U.S.$ [     ] in the event that Buyer’s obligation to
pay the Buyer Termination Fee arises pursuant to Section 8.2(b)(i) of
the Merger Agreement; or (c) U.S.$ [    
] in the event that Buyer’s obligation to pay the Buyer Termination Fee
arises pursuant to Section 8.2(b)(ii) of the Merger Agreement (in
each such case, the “Maximum Amount”), it being understood and agreed
that the amounts the Guarantor may be obligated to pay in the circumstances
referred to in clauses (a), (b) and (c) is not a cumulative amount
and Guarantor shall not be required to pay more than one such amount described
in clauses (a), (b) or (c). The Guaranteed Party hereby agrees that (i) in
no event shall the Guarantor, be required to pay to any person under, in
respect of, or in connection with this Limited Guarantee more than the
applicable Maximum Amount and (ii) the Guarantor shall not have any
obligation or liability to any person relating to, arising out of or in
connection with, this Limited Guarantee other than as expressly set forth
herein.

                1.             NATURE OF GUARANTEE. The
Guaranteed Party shall not be obligated to file any claim relating to the
Obligations in the event that Buyer or Acquisition Sub becomes subject to a
bankruptcy, reorganization or similar proceeding, and the failure of the
Guaranteed Party to so file shall not affect the Guarantor’s Obligations
hereunder. In the event that any payment to the Guaranteed Party hereunder is
rescinded or must otherwise be returned for any reason whatsoever, the
Guarantor shall remain liable hereunder with respect to the Obligations as if
such payment had not been made (subject to the terms hereof). This is an
unconditional guarantee of payment and not of collectibility and a separate
action or actions may be brought and prosecuted against the Guarantor to
enforce this Limited Guarantee, irrespective of whether any action is brought
against Buyer, Acquisition Sub or any Other Guarantor (as 

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hereinafter defined) or whether Buyer, Acquisition Sub
or any Other Guarantor is joined in any such action or actions.

                3.             CHANGES IN OBLIGATIONS, CERTAIN WAIVERS.
The Guarantor agrees that the Guaranteed Party may at any time and from time to
time, without notice to or further consent of the Guarantor, extend the time of
payment of any of the Obligations (provided that the foregoing shall be subject
to the consent of Buyer and Acquisition Sub to the extent such extension
involves an amendment of the Merger Agreement), and may also make any agreement
with Buyer or Acquisition Sub, for the extension, renewal, payment, compromise,
discharge or release thereof, in whole or in part, or for any modification of
the terms thereof or of any agreement between the Guaranteed Party and Buyer
and/or Acquisition Sub without in any way impairing or affecting the Guarantor’s
obligations under this Limited Guarantee. The Guarantor agrees that the
Obligations hereunder shall not be released or discharged, in whole or in part,
or otherwise affected by (a) the failure (or delay) of the Guaranteed
Party to assert any claim or demand or to enforce any right or remedy against
Buyer or Acquisition Sub or any other person interested in the transactions
contemplated by the Merger Agreement (including any other guarantor pursuant to
a Limited Guarantee dated as of the date hereof to be entered into between the
Guaranteed Party and such other guarantor (collectively, the “Other
Guarantors”); (b) any insolvency, bankruptcy, reorganization or other
similar proceeding affecting Buyer or Acquisition Sub or any other person
interested in the transactions contemplated by the Merger Agreement (including
any Other Guarantor); (c) the existence of any claim, set-off or other
right which the Guarantor may have at any time against Buyer or Acquisition Sub
or the Guaranteed Party, whether in connection with the Obligations or
otherwise; (d) the adequacy of any other means the Guaranteed Party may
have of obtaining repayment of any of the Obligations; (e) any change in
the time, place or manner of payment of any of the Obligations or any
rescission, waiver, compromise, consolidation or other amendment or
modification of any of the terms or provisions of the Merger Agreement or any
other agreement evidencing, securing or otherwise executed in connection with
any of the Obligations; (f) the addition, substitution or release of any
entity or other person interested in the transactions contemplated by the
Merger Agreement; or (g) any change in the corporate existence, structure
or ownership of Buyer or Acquisition Sub. To the fullest extent permitted by
law, the Guarantor hereby expressly waives any and all rights or defenses
arising by reason of any law which would otherwise require any election of
remedies by the Guaranteed Party. The Guarantor waives promptness, diligence,
notice of the acceptance of this Limited Guarantee and of the Obligations,
presentment, demand for payment, notice of non-performance, default, dishonor
and protest, notice of the Obligations incurred and all other notices of any
kind (except for notices to be provided to Buyer or Acquisition Sub and its
counsel Weil, Gotshal & Manges LLP in accordance with Section 9.2
of the Merger Agreement), all defenses which may be available by virtue of any
valuation, stay, moratorium law or other similar law now or hereafter in
effect, any right to require the marshalling of assets of Buyer or Acquisition
Sub or any other person interested in the transactions contemplated by the
Merger Agreement (including any Other Guarantor), and all suretyship defenses
generally (other than fraud or willful misconduct by the Guaranteed Party or
any of its subsidiaries or affiliates, defenses to the payment of the
Obligations under the Merger Agreement that are available to Buyer or
Acquisition Sub or breach by the Guaranteed Party of this Limited Guarantee).
The Guarantor acknowledges that it will receive substantial direct and indirect
benefits from the transactions contemplated by the Merger Agreement and that
the waivers set forth in this Limited Guarantee are knowingly made in
contemplation of such benefits.

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The Guarantor hereby unconditionally and irrevocably
covenants and agrees not to exercise any rights that it may now have or
hereafter acquire against Buyer, Acquisition Sub or any of the Other
Guarantors, in each case that arise from the existence, payment, performance,
or enforcement of the Guarantor’s obligations under or in respect of this
Limited Guarantee, including, without limitation, any right of subrogation,
reimbursement, exoneration, contribution or indemnification and any right to
participate in any claim or remedy of the Guaranteed Party against Buyer and/or
Acquisition Sub, whether or not such claim, remedy or right arises in equity or
under contract, statute or common law, including, without limitation, the right
to take or receive from Buyer and/or Acquisition Sub, directly or indirectly,
in cash or other property or by set-off or in any other manner, payment or
security on account of such claim, remedy or right, unless and until all of the
Obligations shall have been paid in full in cash. If any amount shall be paid
to the Guarantor in violation of the immediately preceding sentence at any time
prior to the payment in full in cash of the Obligations, such amount shall be
received and held in trust for the benefit of the Guaranteed Party, shall be
segregated from other property and funds of the Guarantor and shall forthwith
be paid or delivered to the Guaranteed Party in the same form as so received
(with any necessary endorsement or assignment) to be credited and applied to
the Obligations, in accordance with the terms of the Merger Agreement, whether
matured or unmatured, or to be held as collateral for any Obligations or other
amounts payable under this Limited Guarantee thereafter arising.

The Guaranteed Party hereby covenants and agrees that
it shall not institute, and shall cause its subsidiaries and affiliates not to
institute, any proceeding or bring any other claim arising under, or in
connection with, the Merger Agreement or the transactions contemplated thereby,
against any Guarantor or Buyer Affiliate, except for claims against the Guarantor
under this Limited Guarantee and against Other Guarantors under their written
limited guarantees. The Guarantor hereby covenants and agrees that it shall not
institute, and shall cause its subsidiaries and affiliates not to institute,
any proceeding asserting that this Limited Guarantee is illegal, invalid or
unenforceable in accordance with its terms, subject to the effects of
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or
other similar laws affecting creditors’ rights generally, and general equitable
principles (whether considered in a proceeding in equity or at law). Notwithstanding
anything to the contrary contained in this Limited Guarantee, the Guaranteed
Party hereby agrees that to the extent Buyer and Acquisition Sub are relieved
of all or any portion of their Obligations under the Merger Agreement, the
Guarantor shall be similarly relieved of its Obligations under this Limited
Guarantee.

                4.             NO WAIVER; CUMULATIVE RIGHTS.
No amendment or waiver of any provision of this Limited Guarantee shall be
valid and binding unless it is in writing and signed, in the case of an
amendment, by each of the Guarantor and the Guaranteed Party, or in the case of
waiver, by the party against whom the waiver is sought to be enforced. No waiver
by a party of any breach or violation of, or default under, this Limited
Guarantee shall be deemed to extend to any prior or subsequent breach,
violation or default hereunder or to affect in any way any rights arising by
virtue of any such prior or subsequent occurrence. No failure on the part of
the Guaranteed Party to exercise, and no delay in exercising, any right, remedy
or power hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise by the Guaranteed Party of any right, remedy or power
hereunder preclude any other or future exercise of any right, remedy or power. Each
and every right, remedy and power hereby granted to the 

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Guaranteed Party or allowed it by law or other
agreement shall be cumulative and not exclusive of any other, and may be
exercised by the Guaranteed Party at any time or from time to time.

                5.             REPRESENTATIONS AND WARRANTIES.
The Guarantor hereby represents and warrants that:

(a)        the
execution, delivery and performance of this Limited Guarantee have been duly
and validly authorized by all necessary action and do not contravene, conflict
with or result in any violation of  any
provision of the Guarantor’s charter, partnership agreement, operating
agreement or similar organizational documents or any Law, regulation, rule,
decree, Order, judgment or contractual restriction applicable to or binding on
the Guarantor or its assets;

(b)        all
consents, approvals, authorizations, permits of, filings with and notifications
to, any governmental authority necessary for the due execution, delivery and
performance of this Limited Guarantee by the Guarantor have been obtained or
made and all conditions thereof have been duly complied with, and no other
action by, and no notice to or filing with, any governmental authority or
regulatory body is required in connection with the execution, delivery or
performance of this Limited Guarantee;

(c)        this
Limited Guarantee constitutes a legal, valid and binding obligation of the
Guarantor enforceable against the Guarantor in accordance with its terms,
subject to (i) the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or other similar laws affecting
creditors’ rights generally, and (ii) general equitable principles
(whether considered in a proceeding in equity or at law); and

(d)        the
Guarantor has the financial capacity to pay and perform its Obligations under
this Limited Guarantee, and all funds necessary for the Guarantor to fulfill
its Obligations under this Limited Guarantee shall be available to the
Guarantor for so long as this Limited Guarantee shall remain in effect in
accordance with Section 8 hereof.

                6.             ASSIGNMENT. Neither this
Limited Guarantee nor any rights, interests or Obligations hereunder shall be
assigned by either party hereto (whether by operation of Law or otherwise)
without the prior written consent of the other party hereto; except that if a
portion of the Guarantor’s commitment under the Equity Commitment Letter is
assigned in accordance with the terms thereof, then a corresponding portion of
its Obligations hereunder may be assigned to the same assignee; provided that
any such assignment will not relieve Guarantor of its Obligations hereunder.

                7.             NOTICES. Any notice required
to be given hereunder shall be sufficient if in writing, and sent by facsimile
transmission (provided that any notice received by facsimile transmission or
otherwise at the addressee’s location on any business day after 5:00 p.m.
(addressee’s local time) shall be deemed to have been received at 9:00 a.m.
(addressee’s local time) on the next business day), by reliable overnight
delivery service (with proof of service), hand delivery or certified or
registered mail (return receipt requested and first-class postage 

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prepaid), addressed as follows (or at such other
address for a party as shall be specified in a notice given in accordance with
this Section 7):

if to the
Guarantor:

[                                  ]

[                                  ]

[                                  ]

Phone:  

Fax:  

Attention:  

with copies to:

Weil, Gotshal & Manges LLP

50 Kennedy Plaza, 11th Floor

Providence, RI  02903

Phone:  (401) 278-4710

Fax:  (401) 278-4701

Attention:              David
K. Duffell

                                Sharlyn C. Heslam

if to the Guaranteed
Party:

Univision Communications Inc.

1999 Avenue of the Stars, Suite 3050

Los Angeles, California 90067

Phone:  (310) 556-7655

Fax:  (310) 556-1526

Attention:              C. Douglas Kranwinkle, Esq.

with copies to:

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036-6522

Phone:  (212) 735-3000

Fax:  (212) 735-2000

Attention:              Roger
S. Aaron

                                Howard L. Ellin

CONTINUING GUARANTEE. This Limited Guarantee shall
remain in full force and effect and shall be binding on the Guarantor, its
successors and assigns until the indefeasible payment and satisfaction in full
of the Obligations. Notwithstanding the foregoing, this Limited Guarantee shall
terminate and the Guarantor shall have no further obligation under this Limited
Guarantee as of the earlier of (i) the Effective Time and (ii) the
eighteen month anniversary of the date hereof. Notwithstanding the foregoing, in
the event that the Guaranteed

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Party or any of its subsidiaries or affiliates asserts
in any litigation or other proceeding that the provisions hereof (including
without limitation Section 1 hereof) limiting the maximum aggregate
liability of the Guarantor to the applicable Maximum Amount or any other
provisions of this Limited Guarantee are illegal, invalid or unenforceable in
whole or in part, or asserting any theory of liability against the Guarantor or
any Guarantor Affiliate or Buyer or Acquisition Sub with respect to the
transactions contemplated by the Merger Agreement or this Limited Guarantee
other than liability of the Guarantor under this Limited Guarantee (as limited
by the provisions hereunder, including Section 1), then (x) the
Obligation of the Guarantor under this Limited Guarantee shall terminate ab initio and be null and void, (y) if the Guarantor
has previously made any payments under this Limited Guarantee, it shall be
entitled to recover such payments from the Guaranteed Party, and (z) neither
the Guarantor nor any Guarantor Affiliates shall have any liability to the
Guaranteed Party or any of its affiliates with respect to the transactions
contemplated by the Merger Agreement or under this Limited Guarantee; provided,
however, that if the Guarantor asserts in any litigation or other
proceeding that this Guarantee is illegal, invalid or unenforceable in
accordance with its terms, subject to the effects of bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other similar laws
affecting creditors’ rights generally, and general equitable principles
(whether considered in a proceeding in equity or at law), then, to the extent
the Guaranteed Party prevails in such litigation or proceeding, the Guarantor
shall pay on demand all reasonable fees and out of pocket expenses of the Guaranteed
Party in connection with such litigation or proceeding.

                9.             NO RECOURSE. The Guaranteed
Party acknowledges that the sole asset of Buyer is cash in a de minimis amount,
and that no additional funds are expected to be contributed to Buyer unless and
until the Closing occurs. Notwithstanding anything that may be expressed or
implied in this Limited Guarantee or any document or instrument delivered
contemporaneously herewith, and notwithstanding the fact that the Guarantor may
be a partnership or limited liability company, by its acceptance of the
benefits of this Limited Guarantee, the Guaranteed Party acknowledges and
agrees that it has no right of recovery against, and no personal liability
shall attach to, any former, current or future director, officer, employee,
agent, general or limited partner, manager, member, stockholder, affiliate or
assignee of the undersigned or any former, current or future director, officer,
employee, agent, general or limited partner, manager, member, stockholder,
affiliate or assignee of any of the foregoing (collectively, but not including
Buyer, each a “Guarantor or Buyer Affiliate”), through Buyer or
otherwise, whether by or through attempted piercing of the corporate (or
limited liability company) veil, by or through a claim by or on behalf of Buyer
against any Guarantor or Buyer Affiliate (including a claim to enforce the
commitment letter dated as of date hereof from the Guarantor and the Other
Guarantors to Buyer (the “Equity Commitment Letters”), by the
enforcement of any assessment or by any legal or equitable proceeding, by
virtue of any statute, regulation or applicable law, or otherwise, except for
its rights to recover from the Guarantor (but not any Guarantor or Buyer
Affiliate (including any general partner or managing member)) under and to the
extent provided in this Limited Guarantee and subject to the limitations
described herein, and its rights against Other Guarantors pursuant to the terms
of their written limited guarantees delivered contemporaneously herewith. Recourse
against the Guarantor under and pursuant to the terms of this Limited Guarantee
and against Other Guarantors pursuant to the terms of their written limited
guarantees delivered contemporaneously herewith shall be the sole and exclusive
remedy of the Guaranteed Party and all of its affiliates against the Guarantor
and Guarantor or Buyer Affiliates in respect of any liabilities or Obligations
arising under, or in connection with,

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the Merger Agreement or the transactions contemplated
thereby. Nothing set forth in this Limited Guarantee shall affect or be
construed to affect any liability of Buyer or Acquisition Sub to the Guaranteed
Party or shall confer or give or shall be construed to confer or give to any
person other than the Guaranteed Party (including any person acting in a
representative capacity) any rights or remedies against any person, including
the Guarantor, except as expressly set forth herein.

                10.           RELEASE. (a) By its
acceptance of this Limited Guarantee, the Guaranteed Party hereby covenants and
agrees that (1) neither the Guaranteed Party nor any of its subsidiaries
or affiliates, and the Guaranteed Party agrees to the maximum extent permitted
by law, none of its officers, directors, security holders or representatives
has or shall have any right of recovery under or in connection with the Merger
Agreement, or the transactions contemplated thereby or otherwise relating
thereto, and to the extent that it has or obtains any such right it, to the
maximum extent permitted by law, hereby waives (on its own behalf and on behalf
of each of the aforementioned persons) each and every such right against, and
hereby releases, the Guarantor and each of the Guarantor or Buyer Affiliates
from and with respect to any claim, known or unknown, now existing or hereafter
arising, in connection with any transaction contemplated by or otherwise
relating to the Merger Agreement or the transactions contemplated thereby,
whether by or through attempted piercing of the corporate (or limited liability
company) veil, by or through a claim by or on behalf of Buyer or Acquisition
Sub or any other person against any Guarantor or Buyer Affiliate, or otherwise
under any theory of law or equity (the “Released Claims”), other than claims
against the Guarantor pursuant to this Limited Guarantee (subject to the
limitations described herein); and (2) recourse against the Guarantor
under this Limited Guarantee (and subject to the limitations described herein)
shall be the sole and exclusive remedy of the Guaranteed Party. The Guaranteed
Party hereby covenants and agrees that it shall not institute, directly or
indirectly, and shall cause its affiliates not to institute, any proceeding or
bring any other claim arising under, or in connection with, the Merger
Agreement or the transactions contemplated thereby or otherwise relating
thereto, against Buyer or Acquisition Sub or the Guarantor or Buyer Affiliate
except claims against the Guarantor under this Limited Guarantee (subject to
the limitations described herein). Notwithstanding the foregoing, in connection
with the pursuit by the Guaranteed Party of a claim under this Limited
Guarantee, the Guaranteed Party may pursue a declaratory judgment claim against
Buyer or Acquisition Sub to demonstrate that Buyer or Acquisition Sub has
failed to perform its obligations under the Merger Agreement and to establish
damages.

 

                11.           GOVERNING LAW. This Limited
Guarantee, and all claims or causes of action (whether in contract or tort)
that may be based upon, arise out or relate to this Limited Guarantee or the
negotiation, execution or performance of this Limited Guarantee (including any
claim or cause of action based upon, arising out of or related to any
representation or warranty made in this Limited Guarantee, shall be governed by
the internal laws of the State of Delaware, without giving effect to any choice
or conflict of laws provision or rule.

                12.           WAIVER OF JURY TRIAL. EACH OF
THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS LIMITED GUARANTEE OR

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THE ACTIONS OF EACH OF THE PARTIES HERETO IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT THEREOF.

                13.           COUNTERPARTS. This Limited Guarantee
may be executed and delivered (including by facsimile transmission) in two (2) or
more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed and delivered shall be deemed to be
an original but all of which taken together shall constitute one and the same
agreement.

                14.           ENTIRE AGREEMENT. This Limited
Guarantee constitutes the entire agreement, and supersedes all other prior
agreements and understandings, both written and oral, between the parties, or
any of them, with respect to the subject matter hereof and this Limited
Guarantee is not intended to and shall not confer upon any person other than
the parties hereto any rights or remedies hereunder.

 

                15.           JURISDICTION AND VENUE; SERVICE OF
PROCESS. Each of the parties hereto agree that irreparable damage would
occur in the event that any of the provisions of this Limited Guarantee were
not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Limited Guarantee and to
enforce specifically the terms and provisions of this Limited Guarantee
exclusively in a state or federal court located in Delaware. In addition, each
of the parties hereto hereby irrevocably submits to the exclusive jurisdiction
of the courts of the State of Delaware and to the jurisdiction of the United
States District Court for the State of Delaware, for the purpose of any action
or proceeding arising out of or relating to this Limited Guarantee and each of
the parties hereto hereby irrevocably agrees that all claims in respect to such
action or proceeding may be heard and determined exclusively in any Delaware
state or federal court. Each of the parties hereto agrees that a final judgment
in any action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law. Each
of the parties hereto irrevocably consents to the service of the summons and
complaint and any other process in any other action or proceeding relating to
the transactions contemplated by this Limited Guarantee, on behalf of itself or
its property, by personal delivery of copies of such process to such party.
Nothing in this Section 14 shall affect the right of any party to serve
legal process in any other manner permitted by Law.

 

                16.           SEVERABILITY. If any term or
other provision of this Limited Guarantee is invalid, illegal or incapable of
being enforced by any rule of Law, or public policy, all other conditions
and provisions of this Limited Guarantee shall nevertheless remain in full
force and effect so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to any
party; provided, however, that this Limited Guarantee may not be enforced
without giving effect to the limitation of the amount payable hereunder to the
Maximum Amount provided in Section 1 hereof and to the provisions of Section 3
hereof. No party hereto shall assert, and each party shall cause its respective
affiliates not to assert, that this Limited Guarantee or any part hereof is
invalid, illegal or unenforceable. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the parties
hereto shall negotiate in good faith to modify this Limited Guarantee so as to
effect the original intent of the parties as closely as possible in a

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mutually acceptable manner in order that the transactions contemplated
hereby be consummated as originally contemplated to the fullest extent
possible.

 

                17.           HEADINGS. Headings are used
for reference purposes only and do not affect the meaning or interpretation of
this Limited Guarantee.

 

 9

                IN WITNESS
WHEREOF, the undersigned have executed and delivered this Limited Guarantee as
of the date first above written.

 

	
  

  	
   

  	
  [                                                                                    ]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By.

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  UNIVISION
  COMMUNICATIONS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By.

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  

 

 

[Limited Guarantee
Signature Page]CC Filed by Filing Services Canada Inc. 403-717-3898

Exhibit 10.41 (Form 20F – 2005)

ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT 

THIS ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT (“the Addendum” or “this Addendum”) is entered into this 31st day of July, 2005.

BETWEEN:

Bronx Ventures Inc. (formerly Lucky 1 Enterprises Inc.), a company incorporated under the laws of British Columbia having a business office at Suite #600 – 1199 West Hastings Street, Vancouver, B. C. V6E 3T5

(Hereinafter referred to as the “Company”)

OF THE FIRST PART

AND:

Bedo H. Kalpakian and Jacob H. Kalpakian of 3100 Saturna Place, Richmond, BC, V7C 4C5, and 4005 West 34th Avenue, Vancouver, B.C. V6K 1B3 respectively

(Hereinafter referred to as the “Kalpakians”)

OF THE SECOND PART

AND:

Kalpakian Bros. of B.C. Ltd., a company incorporated under the laws of British Columbia having a business office at #600 - 1199 West Hastings Street, Vancouver, B.C.  V6E 3T5

(Hereinafter referred to as the “Manager”)

OF THE THIRD PART

WHEREAS,

A.

The Company, the Kalpakians and the Manager entered into a Management Services Agreement on the 1st day of November, 2001, as amended by means of an Addendum dated July 1, 2003, (hereinafter collectively referred to as the “Agreement”).

AND WHEREAS

B.

The Directors of the Company approved, with the Kalpakians abstaining, by means of a Directors’ Resolution dated July 27, 2005 to increase the Monthly Management fee payable to the Manager from $20,000 plus G.S.T. per month to $30,000 plus G.S.T. per month effective as of July 1, 2005. 

AND WHEREAS

C.

The parties to the Agreement wish to amend the Agreement, by means of this Addendum whereby the monthly remuneration payable to the Manager shall be increased to Cdn $30,000 (Thirty Thousand Canadian Dollars) plus G.S.T. per month effective as of July 1, 2005.

NOW THEREFORE, in consideration of the premises and mutual covenants herein set forth, the parties hereto agree as follows:

The parties to the Agreement and to this Addendum hereby agree that the monthly remuneration payable to the Manager be increased to Cdn $30,000 (Thirty Thousand Canadian Dollars) plus G.S.T. per month effective as of July 1, 2005, and that all of the other terms and conditions of the Agreement shall remain unchanged and in full force and effect.

1

Addendum/ Management Services Agreement

BRONX/Kalpakian Bros. of B.C. Ltd.

JULY 31, 2005

IN WITNESS WHEREOF the parties hereto have executed this Addendum on this 31st day of July, 2005.

THE CORPORATE SEAL OF

)

 BRONX VENTURES INC.

)

was hereunto affixed in the presence of:

)

)

C/S

(signed)

)

)

)

(signed)

)

SIGNED SEALED AND DELIVERED BY

)

BEDO H. KALPAKIAN in the presence of:

               
)

)

Signature of Witness:

)

)

)

Name of Witness:

)

)

(signed)

)

BEDO H. KALPAKIAN

Address of Witness:

)

)

)

Occupation of Witness:

)

SIGNED SEALED AND DELIVERED BY

)

JACOB H. KALPAKIAN in the presence of:

)

)

Signature of Witness:

)

)

)

Name of Witness:

)

)

(signed)

)

JACOB H. KALPAKIAN

Address of Witness:

)

)

)

Occupation of Witness:

)

THE CORPORATE SEAL of

)

KALPAKIAN BROS. OF B.C. LTD.

)

was hereunto affixed in the presence of:

)

)

C/S

)

(signed)

)

)

)

(signed)

)

2

Addendum/ Management Services Agreement

BRONX/Kalpakian Bros. of B.C. Ltd.

JULY 31, 2005

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]