Document:

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                                                                   EXHIBIT 10.37

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         THIS FIRST AMENDMENT TO CREDIT AGREEMENT ("Amendment") dated as of
October 25, 2001, is made and entered into between U.S. BANK NATIONAL
ASSOCIATION, a national banking association ("U.S. Bank") and LOUDEYE
TECHNOLOGIES, INC., a Delaware corporation ("Borrower"). Words and phrases with
initial capital letters shall have the meanings given to them in Article I of
this Amendment.

                                    RECITALS:

        A. As of August 22, 2001, U.S. Bank and Borrower entered into that
certain credit agreement (together with all supplements, exhibits, modifications
and amendments thereto, the "Credit Agreement"), whereby U.S. Bank agreed to
make a Revolving Loan to Borrower on the terms and conditions set forth therein.

        B. Borrower and U.S. Bank have agreed to amend the Credit Agreement as
set forth in this Amendment.

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

ARTICLE I. DEFINITIONS AND AMENDMENT

        1.1 TERMS DEFINED

        As used herein, capitalized terms shall have the meanings given to them
in the Credit Agreement, except as otherwise defined herein, or as the context
otherwise requires.

        1.2 INCORPORATION OF RECITALS

        The foregoing recitals are incorporated into this Amendment by
reference.

        1.3 AMENDMENT

        The Credit Agreement is hereby amended as set forth herein. Except as
specifically provided herein, all of the terms and conditions of the Credit
Agreement shall remain in full force and effect throughout the term of the
Revolving Loan, and any extensions or renewals thereof.

ARTICLE II. REVOLVING LOAN

        2.1 LOAN COMMITMENT

        Section 2.1 of the Credit Agreement is amended to change the dollar
amount stated in Section 2.1 from $15,000,000 to $19,000,000.

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        2.2 REVOLVING NOTE

        The Revolving Loan is evidenced by the Revolving Note dated as of August
22, 2001. Borrower and U.S. Bank agree that the Revolving Note shall be amended
to change the principal sum from $15,000,000 to $19,000,000 and to increase the
annual fee described in paragraph 6 of the Revolving Note to $23,750 from
$18,750.

ARTICLE III. LETTERS OF CREDIT

        3.1 COMMITMENT

        Section 3.1 of the Credit Agreement is amended to change the dollar
amount stated in Section 3.1 from $1,000,000 to $2,000,000.

ARTICLE IV. EVENTS OF DEFAULT; REMEDIES

        4.1 EVENTS OF DEFAULT

        Section 9.1(j) of the Credit Agreement is amended to change the dollar
amount stated in Section 9.1(j) from $25,000,000 to $30,000,000.

ARTICLE V. CONDITIONS PRECEDENT

        The effectiveness of this Amendment is subject to fulfillment, to the
satisfaction of U.S. Bank, of the following conditions:

        (a) U.S. Bank shall have received this Amendment duly executed and
delivered by the Borrower.

        (b) U.S. Bank shall have received, duly executed and delivered by
Borrower, a First Amendment to the Security Agreement in the form attached
hereto as Exhibit A.

        (c) U.S. Bank shall have received such evidence deemed necessary by U.S.
Bank that its security interest in the Collateral constitutes a first priority
and exclusive security interest.

        (d) No Default or Event of Default has occurred and is continuing.

        (e) All representations and warranties of Borrower contained in the
Credit Agreement or in this Amendment or otherwise made in writing in connection
with the Credit Agreement or this Amendment shall be true and correct in all
material respects with the same effect as though such representations and
warranties had been made on and as of the date of this Amendment.

        (f) U.S. Bank shall have received such other statements, opinions,
certificates, documents, and information with respect to the matters
contemplated by this Amendment as it may reasonably request.

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        (g) Borrower shall have paid and U.S. Bank shall have received a
non-refundable fee in the amount of $5,000 for increasing the Revolving Loan.

ARTICLE VI. GENERAL PROVISIONS

        6.1 REPRESENTATIONS AND WARRANTIES

        The Borrower represents and warrants to the U.S. Bank that as of the
date of this Amendment, there exists no Default or Event of Default. All
representations and warranties of the Borrower contained in the Credit Agreement
and the other Loan Documents, or otherwise made in connection therewith or
herewith, are true and correct as of the date of this Amendment.

        6.2 SECURITY

        The parties hereto agree that all Loan Documents, including without
limitation the Security Agreement, and all financing statements, (a) shall
remain in full force and effect, (b) shall secure the Revolving Loan, and all
other obligations of the Borrower to the U.S. Bank under the Credit Agreement
and the other Loan Documents, and (c) are enforceable without defense, offset,
counterclaim, or claim of recoupment.

        6.3 COUNTERPARTS

        This Amendment may be executed in one or more counterparts, each of
which shall constitute an original agreement, but all of which together shall
constitute one and the same agreement.

        6.4 STATUTORY NOTICE

        ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO
FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON
LAW.

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        IN WITNESS WHEREOF, the U.S. Bank and the Borrower have caused this
Amendment to be executed by their respective duly authorized agents or officers,
to be effective as of October 25, 2001.

                                            LOUDEYE TECHNOLOGIES, INC., a
                                            Delaware corporation

                                            By: /s/ Bradley A. Berg
                                               ---------------------------------

                                            Its: Senior Vice President and
                                                 Chief Financial Officer
                                                --------------------------------

                                            U.S. BANK NATIONAL ASSOCIATION

                                            By: /s/ Kenneth Plank
                                               ---------------------------------

                                            Its: Vice President
                                                --------------------------------

                                                                          PAGE 4EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

     THIS AGREEMENT is made this the 11th day of September, 2001, by and between
Breda Telephone Corp., an Iowa Corporation,  hereinafter referred to as "Breda",
and Bob Boeckman,  the Chief Operations  Officer and Co-Chief Executive Officer,
hereinafter referred to as "Bob".

     WHEREAS,  Bob is  presently  employed by Breda  pursuant  to an  Employment
Agreement dated the 1st day of April, 2000, and

     WHEREAS,  the parties  hereto desire to terminate  that agreement and enter
into a new agreement based on the terms and conditions set forth below.

     NOW,  therefore in  consideration  of the mutual  covenants and obligations
hereinafter set forth, the parties agree as follows:

     1. Termination of Old Employment  Agreement.  The parties hereto agree that
the old Employment Agreement shall be terminated concurrently with the execution
of this agreement and shall be of no further force or effect. The parties hereto
waive  and  release  all  rights  that they may have  under  the old  Employment
Agreement as of the date hereof.

     2.  Employment  and  Duties.  Breda  employs  Bob in the  capacity as Chief
Operations Officer and Co-Chief Executive Officer, subject to the control of the
Board of Directors.  Bob shall perform such other and additional duties as shall
be assigned to him from time to time by such Board of Directors.

     3. Compensation.  During the term of this agreement,  Breda shall pay Bob a
salary and bonus as follows:

          (a)  Salary.  Bob's  yearly  salary  shall be  $82,560.00,  payable in
               accordance with Breda's regular payroll procedures.

          (b)  Bonus.  The  system  for  determining  a bonus  for Bob has  been
               established by the Board of Directors. A copy of the procedure is
               attached  hereto  and marked as  "Attachment  A", and made a part
               hereof.  The final  determination  as to the  amount of the bonus
               rests  solely  in the  discretion  of  the  Board  of  Directors.
               However,  the Board does hereby  agree that the  methodology  and
               procedures   will  follow  the  guidelines  as  outlined  in  the
               "Attachment A".

     4. Other Employee Benefits.  Bob shall be entitled to all employee benefits
extended, from time to time, to all full time employees of Breda.

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     5. Extent of Service.  Bob shall devote his entire  attention and energy to
the  business  and  affairs  of Breda,  and  should  not be engaged in any other
business activity,  whether or not such business activity is a pursuit for gain,
profit or other pecuniary advantage,  unless Breda consents to Bob's involvement
in such business activity. This restriction shall not be construed as preventing
Bob from  investing  his assets in a form or manner that would not require Bob's
services in the  operation of any of the company in which such  investments  are
made.

     6. Term. The term of this  agreement  shall begin on the date this document
is executed, and shall terminate on the 1st day of April, 2002.

     7.  Termination  Without  Cause.  Breda may terminate this agreement at any
time,  without cause,  by giving thirty (30) days written notice to Bob. In that
event,  if  requested  by Breda,  Bob shall  continue to render his services and
shall  be paid  his  regular  compensation  up to the  date of  termination.  In
addition,  Bob shall be paid on the date of termination the severance  allowance
equal to the amount remaining to be paid under this contract.

     Bob may terminate  this  agreement,  at any time, by giving sixty (60) days
notice to Breda. In that event,  Breda shall pay Bob his  compensation up to the
date of termination. Bob shall not be entitled to any severance payment and will
not be considered for any performance upon his voluntary termination.

     8. Termination for Cause. Breda may terminate this agreement for cause upon
five (5) days  written  notice to Bob stating  the reason for said  termination.
Matters which would be considered terminable for cause would include, but not be
limited to:

          (a)  Fraud or theft;
          (b)  Falsifying records;
          (c)  Refusal to carry out a specific order of the Board of Directors;
          (d)  Abuse, discrimination, or harassment of another employee;
          (e)  Unauthorized dissemination of records or information;
          (f)  Divulging confidential information;
          (g)  Possession of illegal drugs or weapons while on Breda property;
          (h)  Conviction of a crime, the nature of which would be calculated to
               render an employee undesirable as a co-manager and detrimental to
               the best  interest of the  company;  and
          (i)  Using or possessing intoxicants or narcotics of any kind while on
               company  premises  or being at work under the  influence  of such
               substances.

     9. Illness or disability. If Bob is absent from his employment by reason of
illness or other  incapacity for more than  twenty-six (26)  consecutive  weeks,
Breda may, after such twenty-six (26)  consecutive  weeks,  but only if Bob then
fails to return to active  employment with Breda,  terminate Bob's employment by
furnishing  him with notice of  termination.  Breda  shall pay Bob

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compensation  during  any period of illness or  incapacity  in  accordance  with
Breda's sick pay policy then in effect.

     10. Death.  If Bob's  employment  terminates by reason of his death,  Breda
shall only be obligated to make the payments required under its pension plan.

     11.  Restrictive  Covenants.  During the term of this agreement,  and for a
period of one (1) year  hereafter,  Bob shall not, either as an individual or on
his own account,  or as a partner,  joint  venture,  employee,  agent,  officer,
director or shareholder,  directly or indirectly (a) enter into or engage in any
business  competitive  with that of Breda  within  fifty (50) mile area in which
Breda is then doing  business;  and (b)  solicit  or  attempt to solicit  any of
Breda's  customers  with the  intent or purpose  to  perform  services  for such
customers  which are the same or similar to those  provided  to the  customer by
Breda, or to sell to such customers goods which are the same or similar to those
provided to customers by Breda.

     12.  Confidential  Information.   Bob  acknowledges  and  agrees  that  all
information of a technical or business nature,  such as know how, trade secrets,
business plans, data, processes,  techniques, customer information,  inventions,
discoveries and devices,  acquired by Bob in the course of his employment  under
this agreement,  is valuable,  proprietary information of Breda. Bob agrees that
such confidential information whether in written, verbal or model form shall not
be disclosed  to anyone  outside of the  employment  of Breda,  without  Breda's
written consent.

     13. Return of Documents.  Upon the termination of Bob's  employment with or
without cause, Bob shall  immediately  return and deliver to Breda and shall not
retain any  originals  or copies of any books,  papers,  price  lists,  customer
contacts,  bids,  customer  lists,  files,  notebooks  or  any  other  documents
containing any of the  confidential  information or otherwise  relating to Bob's
performance of duties under this agreement.  Bob further acknowledges and agrees
that all such documents are Breda's sole and exclusive property.

     14.  Expenses.  Bob is authorized to incur only such expenses for promoting
and continuing  Breda's  business as Breda may from time to time deem reasonable
and  appropriate.  Breda will  reimburse  Bob for all such  expenses  upon Bob's
presentation of receipts and an itemized accounting therefore.

     15.  Construction  of  Agreement.  This  agreement  shall  be  interpreted,
constructed  and  governed  by and under  the laws of the State of Iowa.  If any
provision or clause of this agreement or the application thereof to either party
is held to be invalid by a court of competent jurisdiction,  then such provision
shall be  severed  therefrom  and such  invalidity  shall not  effect  any other
provision of this agreement.

          (a)  In the event that the  provisions  of  paragraph 11 shall ever be
               deemed to exceed the time or  geographical  limits  permitted  by
               applicable  law,  then such

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               provision shall be reformed to the maximum time and  geographical
               limits permitted by applicable law.

          (b)  The representations,  warranties, covenants and agreements of the
               parties  shall be revived  continuously  during  the Term,  or in
               consideration of the compensation  paid to Bob, and shall survive
               the termination of this agreement.

          (c)  This agreement  contains the entire agreement between the parties
               hereto with respect to the subject matter  hereof,  and there are
               no  understandings,  representations  or  warranties  of any kind
               between the parties except as expressly set forth herein.

          (d)  Neither  this  agreement  nor  any  right  or  obligation  of Bob
               hereunder  may be  assigned  by Bob  without  the  prior  written
               consent of Breda.

          (e)  Subject thereto,  this agreement and the covenants and conditions
               herein  contained  shall  enure to the  benefit  of and  shall be
               binding upon the parties hereto and their  respective  successors
               and permitted assigns.

                                           BREDA TELEPHONE CORP.

/s/ Bob Boeckman                           /s/ Clifford Neumeyer, Vice President
------------------------------------       -------------------------------------
Bob Boeckman

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                                 "Attachment A"
                            Performance Bonus Rating
                              Calendar Year Results

Title:                        COO / Co-CEO
Period in Review:             April 1, 2001 to March 31, 2002
Eligibility:                  COO / Co-CEO on payroll through calendar year 2001
Initial Reviewers:            Board of Directors Compensation Committee
Approval:                     Full Board of Directors
Payout Timing:                Following Annual Stockholders' Meeting

                          Company Performance Measures

Key Stakeholders:                          Below       As Expected     Above
-----------------                         (0 pts.)       (1 pts.)     (2 pts.)

      Employees
                                         ---------      ---------     ---------
      Board of Directors
                                         ---------      ---------     ---------
      Increase Operating Revenue
                                         ---------      ---------      --------
      Customer Base
                                         ---------      ---------      --------
      Technology
                                         ---------      ---------     ---------
      Contingency Plan
                                         ---------      ---------      --------
      Pursuit of New Products, Services
                                         ---------      ---------      --------
      and Opportunities

                         Individual Performance Measures

Customer Relationships / Professionalism of Staff:
--------------------------------------------------

                                           Below      As Expected     Above
                                          (0 pts.)      (3 pts.)     (6 pts.)

Equal Responsibility of COO / CFO
                                         ---------     ---------     --------

          a.   Time in office equalized
          b.   Equal use of vacation
          c.   Prioritize  time to be more responsive to business and management
               decisions
          d.   Develop COO position to take more  responsibility  for day-to day
               operation

Total Performance Bonus                  ---------     ---------     --------
         Max Bonus Potential                 0%            10%          20%

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Comments:_______________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

Key Manager Annual  Performance Bonus  recommendation for the year of _________,
by the Compensation Committee Directors (signatures / dates below).

___________________________                   __________________________________

___________________________                   __________________________________

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