Document:

RadioWorks Shares Option Agreement

 Exhibit 4.49 
  
 CANWEST INTERNATIONAL COMMUNICATIONS INC. 
 CICI 
  
 CANWEST
MEDIAWORKS (NZ) LIMITED 
 MediaWorks 
  

  
 RADIOWORKS SHARES OPTION

 AGREEMENT 
  

  
 

 

			
	 AGREEMENT dated
	  	 2004

  
 PARTIES 
  
 CANWEST INTERNATIONAL COMMUNICATIONS INC. (“CICI”)

  
 CANWEST MEDIAWORKS (NZ) LIMITED
(“MediaWorks”) 
  
 INTRODUCTION 
  

	A.	MediaWorks proposes to offer for sale to retail and institutional investors up to 30% of new MediaWorks Shares and to list the MediaWorks Shares on the NZSX.

  

	B.	RadioWorks is a company incorporated in New Zealand and has a share capital comprised of 100 ordinary shares and has issued $96,364,000 convertible notes. 

 

	C.	CICI is the legal owner of all of the RadioWorks Shares. CICI has pledged the RadioWorks Shares to The Bank of Nova Scotia, as administrative agent, amongst others, pursuant to a
Canadian agreement, the Securities Pledge Agreement dated 7 November 2000 and a New Zealand agreement, the Deed of Mortgage of Shares dated 7 November 2000. 

  

	D.	CICI has agreed to grant MediaWorks an option to acquire all of the RadioWorks Shares on the terms contained in this agreement. 

  
 AGREEMENT 
  

	1.	INTERPRETATION 

  

	1.1	In this agreement, unless the context otherwise requires: 

  
 “Business Day” means a day on which registered banks are open for business in Auckland, New Zealand and Winnipeg, Manitoba, Canada.

  
 “Completion” means the exercise of the
Option in accordance with section 4, or as the context may require, the point in time at which such completion takes place. 
  
 “Exercise Date” means the date specified in the notice delivered by MediaWorks to CICI pursuant to clause 4.1 as the date on which
MediaWorks intends to exercise the Option.  
  
 “Exercise Price” has the meaning set out in clause 3.1. 
  
 “GST” means goods and services tax chargeable, or to which a person may be liable, under the Goods and Services Tax Act 1985 (New Zealand), and any penalties, additional tax or interest payable in
respect thereof. 
  
 “MediaWorks Shares”
means the ordinary shares of MediaWorks. 
  
 “NZX Listing
Rules” means the listing rules of New Zealand Exchange Limited. 
  
 “Option” has the meaning set out at clause 2.1 of this agreement. 
  
 “RadioWorks” means CanWest RadioWorks Limited. 
  

 “RadioWorks Convertible Notes Option Agreement” means the option agreement between
1130400 Alberta Ltd. and MediaWorks dated on or about the date of this agreement. 
  
 “RadioWorks Shares” means the 100 ordinary shares in RadioWorks, being all of RadioWorks’ issued shares. 
  

“Tax Savings”, in respect of a loss, liability, cost or expense shall: 
  

	 	(a)	include, where the amount of a loss, liability, cost or expense incurred is wholly or partly deductible for income tax purposes, the amount of the deduction to which the relevant
person is entitled multiplied by the relevant taxation rate; 

  

	 	(b)	in the case of a deduction referred to in (a) above, be treated as arising in the same tax year as the relevant loss, liability, cost or expense is incurred; and

  

	 	(c)	include the amount of any GST input tax credit available as a consequence of that loss, liability, cost or expense. 

  
 “Warranties” means the warranties created by clause 5.1 and
set out in Schedule 1 and “Warranty” shall be construed accordingly. 
  
 “Warranty Loss” means a loss, liability, cost or expense incurred by Party B (as defined in clause 5) (calculated after taking into account all relevant Tax Savings) as a result of a Warranty being
untrue. 
  
 “$” and “Dollars”
means the lawful currency of New Zealand. 
  

	1.2	In this agreement, unless the context otherwise requires: 

  

	 	(a)	words importing one gender include the other gender; 

  

	 	(b)	the singular includes the plural and vice versa; 

  

	 	(c)	references to a month or a year are references to a calendar month or year, as the case may be. 

  

	1.3	In this agreement: 

  

	 	(a)	a reference to CICI or MediaWorks is a reference also to their respective successors; 

  

	 	(b)	a reference to a “person” includes an individual, firm, company, corporation, unincorporated body of persons, state or government or any agency thereof and other body or
entity (in each case, whether or not having separate legal personality) and a reference to a “company” includes a person; 

  

	 	(c)	headings are for convenience only and shall not affect interpretation; 

  

	 	(d)	references to sections, clauses and schedules are references to sections, clauses and schedules of this agreement. 

  

	1.4	The schedules to this agreement form part of this agreement and have the same force and effect as if expressly set out in the body of this agreement. 

  

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	2.	OPTION GRANT 

  

	2.1	CICI grants MediaWorks an option to acquire, on or after 28 July 2004, all of the RadioWorks Shares together with all rights attaching thereto at the date of this agreement
(“Option”). 

  

	2.2	The aggregate consideration for the Option shall be the sum of $1.00 which shall be paid by MediaWorks on the date of this Agreement. 

  

	3.	EXERCISE PRICE 

  

	3.1	The aggregate exercise price of the Option shall be the sum of $100 (“Exercise Price”). 

  

	3.2	MediaWorks shall satisfy the Exercise Price by the payment of $100 in full into the nominated bank account of CICI. 

  

	4.	EXERCISE 

  

	4.1	MediaWorks shall give CICI prior notice of its intention to exercise the Option in the form attached as Schedule 2. 

  

	4.2	Completion shall take place on the Exercise Date at the Auckland office of Russell McVeagh or such other place as CICI and MediaWorks agree. 

  

	4.3	On Completion, CICI shall deliver to MediaWorks the following: 

  

	 	(a)	transfers of the RadioWorks Shares duly executed by CICI in registrable form; 

  

	 	(b)	evidence of the passing by the board of directors of RadioWorks of a valid resolution approving the transfers of the RadioWorks Shares and directing that the name of MediaWorks
and/or its nominee be entered in the share register of RadioWorks upon production of the transfers to RadioWorks duly executed by MediaWorks; and 

  

	 	(c)	such other certificates or other documentation as MediaWorks may reasonably require. 

  

	4.4	Upon compliance with each of the provisions of clause 4.3, MediaWorks shall forthwith comply with the provisions of clause 3.2, execute the transfers of the RadioWorks shares
and deliver them to RadioWorks. 

  

	5.	WARRANTIES AND UNDERTAKINGS 

  

	5.1	In consideration of the other party entering into this agreement, each of CICI and MediaWorks hereby gives the Warranties and such Warranties shall also be deemed to be given on
Completion. For the purposes of this clause, the party giving the Warranties shall be “Party A” and the Warranties shall be given for the benefit of “Party B”. 

  

	5.2	The Warranties shall be deemed to have been given subject to: 

  

	 	(a)	any exception or qualification fairly disclosed in a formal disclosure letter given by or on behalf of Party A and received by Party B prior to execution of this agreement by Party
B, or expressly stated in this agreement; and 

  

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	 	(b)	any matter or thing hereafter done or omitted to be done pursuant to any other provision of this agreement or at the request in writing, or with the prior approval in writing, of
Party B. 

  

	5.3	Subject to the limitations set out in this section 5, Party A shall indemnify Party B against each Warranty Loss. 

  

	5.4	Party B acknowledges that the only relief available to it arising from any breach of a Warranty is the right to be indemnified by Party A under clause 5.3 (subject always to the
limitations set out in this section 5) and that the breach of any Warranty shall not give rise to any other or separate cause of action for damages or other relief from misrepresentations or breach of representation or warranty or otherwise.

  

	5.5	Party B has no claims against Party A in respect of the Warranties or any other obligations of Party A expressed or implied in this agreement: 

  

	 	(a)	in respect of any matter recorded in a public register and capable of being searched by the public; 

  

	 	(b)	if and to the extent that the relevant circumstance or amount has been or is made good, or recovered by or paid to Party B without cost, liability or loss to Party B;

  

	 	(c)	if and to the extent that the relevant event, circumstance, loss, liability, cost or expense to which the claim relates would not have arisen but for: 

  

	 	(i)	any act or omission by Party B; 

  

	 	(ii)	an obligation or commitment entered into or made after the Exercise Date; and 

  

	 	(iii)	Party B admitting liability in respect thereof without the prior written consent of Party A; 

  

	 	(d)	if and to the extent that such claim arises as a result of any legislation not in force at the date of this agreement which takes effect retrospectively or arises as a result only
of any increase in the rates of taxation in force at the date of this agreement; and 

  

	 	(e)	if and to the extent that such claim arises as a result of a change after the date of this agreement in any law or interpretation of any law. 

  

	5.6	The parties agree that: 

  

	 	(a)	the maximum aggregate amount for which Party A shall be liable to Party B under or by virtue of this agreement on any account whatsoever (whether under or by virtue of the
Warranties or otherwise, including under statute or in tort) shall not exceed an amount that is 50% of the Exercise Price; and 

  

	 	(b)	no claim for a breach of a Warranty will be valid unless the claim is notified in writing to Party A within six (6) months from the Exercise Date. 

  

	5.7	To the maximum extent permitted by law: 

  

	 	(a)	all implied or other representations or warranties of Party A in relation to the transactions evidenced by this agreement are hereby expressly excluded; 

  

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	 	(b)	any inquiry or determination by a Court into any of the following matters is precluded: 

  

	 	(i)	whether a statement, promise, or undertaking was made or given, either in words or by conduct, in connection with or in the course of negotiations leading to the making of this
agreement; or 

  

	 	(ii)	whether, if it was so made or given, it constituted a representation or a term of this agreement; or 

  

	 	(iii)	whether, if it was a representation, it was relied upon; 

  

	 	(c)	(without limiting the provisions of clauses 5.7(a) and 5.7(b)), Party B renounces any cause of action (if any) against Party A or any other person which, notwithstanding the
foregoing provisions of this clause 5.7, it may have founded on, and discharges Party A from any liability at common law (including, but not limited to, negligence) or under statute (including, but not limited to, the Fair Trading Act 1986 (New
Zealand) except to the extent prohibited by that Act) arising out of this agreement. 

  

	5.8	CICI shall use all reasonable endeavours to procure that all liens, charges, encumbrances, security interests, rights or pre-emption or other adverse interest of any nature over the
RadioWorks Shares are discharged within five (5) Business Days following the Exercise Date. 

  

	6.	CONDITION OF EXERCISE AND LAPSE 

  

	6.1	MediaWorks shall not exercise the Option until such time as it has exercised its option under the RadioWorks Convertible Notes Option Agreement. 

  

	6.2	The Option will lapse, by written notice given by CICI, if has not been exercised by 13 August 2004 or such later date as may be agreed by the parties. If this agreement is so
avoided it will be of no further force or effect and both parties shall be released from their obligations under this agreement. 

  

	7.	ANNOUNCEMENTS 

  

	7.1	Except as may be required by law or by the NZX Listing Rules or the requirements of any other stock exchange or regulatory body to which a party is subject, neither of the parties
shall make any announcements or disclosures as to the subject matter or any of the terms of this agreement except in such form and manner, and at such time, as CICI and MediaWorks agree. 

  

	8.	NOTICES 

  

	8.1	 If either party wishes to give to or serve on the other party any notice, claim, demand or other communication (“notice”) under or in connection
with this agreement, the notice shall be sufficiently given or served (but without prejudice to any other mode of service) if addressed to that party and delivered to the address of that party stated below or in each case to such other address as
that party shall have notified to the other party for 

  

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the purpose of this agreement by not less than five (5) Business Days’ written notice given in accordance with this clause.

  

			
	CICI:	  	CanWest International Communications Inc.
	 	  	Jalabash House
	 	  	12 Highgate Park
	 	  	St Michael
	 	  	BARBADOS
		
	Facsimile:	  	+1 246 228 3847
		
	Attention:	  	Chief Executive Officer
		
	MediaWorks:	  	CanWest MediaWorks (NZ) Limited
	 	  	3 Flower Street
	 	  	Eden Terrace
	 	  	Auckland
		
	Facsimile	  	+64 9 366 5999
		
	Attention:	  	Chief Executive Officer

  

	9.	ASSIGNMENT 

  

	9.1	Neither party shall transfer or assign (whether by operation of law or otherwise) its interest in, or its rights and obligations under, this agreement. 

  

	10.	NO MERGER 

  

	10.1	The obligations, warranties, undertakings, and indemnities undertaken or given under or pursuant to this agreement, to the extent not already fully performed at Completion, shall
not merge on Completion but shall remain enforceable to the fullest extent notwithstanding any rule of law to the contrary. 

  

	11.	NO WAIVER 

  

	11.1	No waiver of any breach, or failure to enforce any provision, of this agreement at any time by any party shall in any way affect, limit or waive such party’s right thereafter
to enforce and compel strict compliance with the provisions of this agreement. 

  

	12.	SEVERABILITY 

  

	12.1	If any provision of this agreement shall be held to be illegal, invalid or unenforceable under any applicable law, then such contravention or invalidity or unenforceability shall
not invalidate or render unenforceable the entire agreement. Such provision shall be deemed to be modified to the extent necessary to render it legal, valid and enforceable, and if no such modification shall render it legal, valid and enforceable
then this agreement shall be construed as if not containing the provision held to be invalid, illegal or unenforceable, and the rights and obligations of the Parties shall be construed and enforced accordingly. 

  

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	13.	AMENDMENTS 

  

	13.1	Any amendments to this agreement shall be executed by each party in the same manner and with the same formality as this agreement is executed. 

  

	14.	ENTIRE AGREEMENT 

  

	14.1	This agreement constitutes the entire agreement between the parties with respect to the matters dealt with in this agreement and there are no oral or written understandings,
representations or commitments of any kind, express or implied, not expressly set out in this agreement. 

  

	15.	CONFIDENTIALITY 

  

	15.1	Each party shall at all times keep confidential, treat as privileged, and not directly or indirectly make or allow any disclosure or use to be made of, any provision of this
agreement or of any information relating to any provision, or the subject matter, of this agreement or of any information directly or indirectly obtained from the other party under or in connection with this agreement, except to the extent:

  

	 	(a)	required by law; or 

  

	 	(b)	necessary to satisfy the requirements of any applicable stock exchange; or 

  

	 	(c)	that the parties otherwise agree in writing; or 

  

	 	(d)	necessary to obtain the benefit of, or to carry out obligations under, this agreement; or 

  

	 	(e)	that the information is or becomes available in the public domain without breach by a party of its confidentiality obligations under this clause or at law. 

 

	16.	GOVERNING LAW 

  

	16.1	This agreement shall be governed by, and construed in accordance with, the laws of New Zealand. 

  

	16.2	The parties unconditionally and irrevocably submit to the non-exclusive jurisdiction of the courts of New Zealand in respect of all matters arising out of this agreement and waive
any right they may have to object to an action being brought in those courts, to claim that the action has been brought in an inconvenient forum, or to claim that those courts do not have jurisdiction. 

  

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	17.	COUNTERPARTS 

  

	17.1	This agreement may be executed in any number of counterparts (including facsimile copies) and, provided that every party has executed a counterpart, the counterparts together shall
constitute a binding and enforceable agreement between the parties. 

  
 SIGNATURES 
  

					
	 CANWEST INTERNATIONAL
 COMMUNICATIONS INC.
by its
 authorised signatory in the presence of:
	 	 	 	 
			
	  	 	 	 	  
	 	 	 	 	 Signature of authorised signatory

			
	  	 	 	 	  
	 	 	 	 	 Name of authorised signatory

			
	  	 	 	 	  
	 Signature of witness
	 	 	 	 
			
	  	 	 	 	  
	 Occupation
	 	 	 	 
			
	  	 	 	 	  
	 City/town of residence
	 	 	 	 
			
	 CANWEST MEDIAWORKS (NZ)
 LIMITED by its authorised signatory in the
 presence of:
	 	 	 	 
			
	  	 	 	 	  
	 	 	 	 	 Signature of authorised signatory

			
	  	 	 	 	  
	 	 	 	 	 Name of authorised signatory

			
	  	 	 	 	  
	 Signature of witness
	 	 	 	 
			
	  	 	 	 	  
	 Occupation
	 	 	 	 
			
	  	 	 	 	  
	 City/town of residence
	 	 	 	 

  

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 SCHEDULE 1 
  

(Clause 5.1) 
  
 WARRANTIES 
  
 The
clauses in this schedule are the Warranties given pursuant to clause 5.1 of the agreement: 
  

	1.	It has full power, authority and legal right to enter into this agreement and to observe and perform its obligations hereunder and has taken all necessary corporate and other action
to authorise the execution, delivery and performance of this agreement. 

  

	2.	This agreement constitutes its legal, valid and binding obligations enforceable against it in accordance with its terms, except as such enforceability may be limited by equitable
principles or by bankruptcy, moratorium, insolvency, reorganisation, liquidation or other laws relating to or affecting creditors’ rights. 

  

	3.	The execution and delivery of this agreement by it and the performance by it of its obligations under this agreement does not and will not exceed any power granted to it, or
constitute, or result in, a breach or violation of: 

  

	 	(a)	any provision of any law or any rule or directive of any court or governmental or regulatory agency or authority to which it is subject; or 

  

	 	(b)	its constitution. 

  

 1 

 SCHEDULE 2 
  

(Clause 4.1) 
  
 NOTICE OF INTENTION TO EXERCISE OPTION 
  

			
	Date:	  	[                ] 2004
	Time:	  	[        ]
		
	To:	  	 CanWest International Communications Inc.
 Jalabash House
 12 Highgate Park
 St Michael

BARBADOS

  
 RADIOWORKS SHARE OPTION AGREEMENT
DATED [24] JUNE 2004 (“Agreement”) 
  
 Defined terms used in this
notice have the meanings given to them in the Agreement. 
  
 Pursuant to clause
4.1 of the Agreement, we hereby notify you of our intention to exercise the Option to acquire all of the RadioWorks Shares on [    ] which shall be the Exercise Date for the purposes of the Agreement. 
  

	
	CANWEST MEDIAWORKS (NZ) LIMITED
	
	  
	 Signature of authorised signatory

	
	  
	 Name of authorised signatory

  

 1Escrow Agreement, dated July 28, 2004

 Exhibit 4.50 
  
 KEN WEST HOLDINGS 
  
 CANWEST MEDIAWORKS (NZ) LIMITED 
  
 GOLDMAN SACHS JBWERE (NZ) LIMITED 
  
 NEW ZEALAND EXCHANGE LIMITED 
  

  
 ESCROW AGREEMENT 
  

  

			
	 AGREEMENT dated
	  	 2004

  
 PARTIES 
  
 KEN WEST HOLDINGS (“KWH”) 
  
 CANWEST MEDIAWORKS (NZ) LIMITED (“CML”) 
  
 GOLDMAN SACHS JBWERE (NZ) LIMITED (“Lead Manager”)

  
 NEW ZEALAND EXCHANGE LIMITED (“NZX”)

  
 INTRODUCTION 
  

	A.	On 28 July 2004, CML issued 68.0 million ordinary shares in CML (“Shares”) as part of an initial public offering to the public and institutions
(“Offering”). CML used the proceeds from the Offering together with a bank loan and issued 158,666,667 further Shares to 1103400 Alberta Ltd. (“Affected Shares”) to effect the purchase of the radio and television
businesses of CanWest TVWorks Limited and CanWest RadioWorks Limited, immediately after which AlbertaCo was dissolved into its parent company, Global Communications Limited (“GCL”) (“Restructuring”). Accordingly,
GCL holds the Affected Shares. 

  

	B.	On 24 June 2004, GCL, CML, NZX and the Lead Manager entered into an escrow agreement (“GCL Escrow Agreement”) that imposed certain restrictions on the transfer of
the Affected Shares for a specified period from the date of the combined prospectus and investment statement relating to the Offering, being 25 June 2004. Pursuant to clause 4(a)(iv) of the GCL Escrow Agreement, GCL is permitted to transfer
ownership of the Affected Shares to a Related Company or a wholly owned subsidiary of CanWest Global Communications Corp., if that company executes a deed agreeing to be similarly bound. 

  

	C.	On 28 July 2004, GCL intends to transfer the Affected Shares to a Related Company, KWH. 

  

	D.	Pursuant to clause 4(a)(iv) of the GCL Escrow Agreement, KWH has agreed to enter into this agreement with CML, the Lead Manager and NZX. 

  
 AGREEMENT 
  

	1.	DEFINITIONS 

  

	1.1	In this agreement, 

  
 “Related Company” shall have the same meaning as that term is defined in the Companies Act 1993 except that references in that section to
a “company” shall be deemed to include a body corporate; 
  
 “Specified Date” means the date that GCL transfers the Affected Shares to KWH, which is expected to be 28 July 2004. 
  
 “Subsidiary” shall have the same meaning as that term is defined in the Companies Act 1993. 
  

 1 

	2.	KWH ESCROW 

  

	2.1	Subject to clause 5, during the KWH Escrow Period, KWH will not: 

  

	 	(a)	dispose of, or agree or offer to dispose of, any of the Affected Shares; 

  

	 	(b)	create, or agree or offer to create, any security interest in any of the Affected Shares; or 

  

	 	(c)	do, or omit to do, any act if the act or omission would have the effect of transferring effective ownership or control of any of the Affected Shares. 

  

	3.	KWH ESCROW PERIOD 

  

	3.1	The restrictions described in clause 2 apply to the Affected Shares during the period beginning on the Specified Date and ending on the earlier of: 

  

	 	(a)	the date which is 12 months after the date on which the Shares are first quoted on the NZSX; and 

  

	 	(b)	the date upon which any other person (not being a Related Company of KWH), or persons acting jointly or in concert, together in each case with their associates, hold or control 15%
or more of the voting rights in CML, 

  
 (the
“KWH Escrow Period”). 
  

	4.	KWH ESCROW EXCEPTIONS 

  

	4.1	The restrictions described in clause 2 do not apply: 

  

	 	(a)	to any proposed disposal, creation of a security interest in, or act or omission which transfers effective ownership or control: 

  

	 	(i)	where the prior written consent of CML, the Lead Manager and NZX is obtained; or 

  

	 	(ii)	if the other party to the proposed transaction is a Related Company of KWH or a wholly owned Subsidiary (either directly or indirectly) of CanWest Global Communications Corp, that
first executes a deed agreeing to be similarly bound, in favour of CML, the Lead Manager and NZX; or 

  

	 	(iii)	if the proposed transaction is to provide security in favour of a financier who has lent money or provided other financial accommodation to KWH or a Related Company; or

  

	 	(b)	to any proposed disposal, creation of a security interest in, or act or omission which transfers effective ownership or control, if the other party to the proposed transaction (and
such party is not a Related Company of CML) has given a takeover notice to CML or has made a takeover offer in respect of some or all of the ordinary shares in CML in accordance with the Takeovers Code set out in the Schedule to the Takeovers Code
Approval Order 2000 (SR 2000/210) (the “Takeovers Code”), and KWH has accepted or agreed to accept that takeover offer; or 

  

 2 

	 	(c)	to any proposed disposal, creation of a security interest in, or act or omission which transfers effective ownership or control, if the other party to the proposed transaction is a
non wholly owned Related Company of CML and has given a takeover notice to CML or has made a takeover offer in respect of some or all of the ordinary shares in CML in accordance with the Takeovers Code and KWH has accepted that takeover offer at an
offer price equal to or greater than 120% of the average market price of the ordinary shares of CML as quoted on the NZSX during the 30 day period prior to the earlier of the date of such takeover notice and KWH agreeing to accept such a takeover
offer. 

  

	5.	NOTICE 

  

	5.1	Every notice or communication to be given under, or in connection with, this agreement shall be given in writing by: 

  

	 	(a)	personal delivery; 

  

	 	(b)	mailing by pre-paid registered post, and shall be deemed to be given two working days after (but exclusive of) the date of mailing; or 

  

	 	(c)	facsimile transmission, and shall be deemed to be given at the time specified in the facsimile transmission report of the facsimile from which the transmission was made which
evidences full transmission, free of errors, to the facsimile number of the party given notice unless that party proves that, contrary to the transmission report, it was not transmitted, or it was not transmitted in a complete and legible state, to
that party’s facsimile; 

  
 to the addresses
specified below or if a written notice of change of address is given then to the new address: 
  

			
	 To:
	  	Ken West Holdings
	 Full address
	  	25/28 North Wall Quay
	 	  	Dublin 1
	 	  	Ireland
		
	 Fax
	  	001 204 947 9841
	 Contact person:
	  	Thomas Strike
		
	 To:
	  	CanWest MediaWorks (NZ) Limited
	 Full address
	  	3 Flower Street
	 	  	Eden Terrace
	 	  	Auckland
	 	  	New Zealand
		
	 Fax
	  	+64 9 366 5999
	 Contact person:
	  	Brent Impey
		
	 To:
	  	Goldman Sachs JBWere (NZ) Limited
	 Full address
	  	Level 38, Vero Centre
	 	  	48 Shortland Street
	 	  	P O Box 887
	 	  	Auckland
	 	  	New Zealand
		
	 Fax
	  	+64 9 357 3222
	 Contact person:
	  	Chief Executive Officer

  

 3 

			
	 To:
	  	New Zealand Exchange Limited
	 Full address
	  	9th Floor, ASB Tower
	 	  	2 Hunter Street
	 	  	P O Box 2959
	 	  	Wellington
	 	  	New Zealand
		
	 Fax
	  	+64 4 473 1470
	 Contact person:
	  	Elaine Campbell

  
 Notwithstanding any
other provision contained in this clause any notice given after 5pm, or on a day which is not a working day, shall be deemed to be given at 9am on the next working day. 
  

	6.	COUNTERPARTS 

  

	6.1	This agreement may be executed in any number of counterparts (including facsimile copies) and provided that every party has executed a counterpart, the counterparts together shall
constitute a binding and enforceable agreement between the parties. 

  

	7.	GOVERNING LAW 

  

	7.1	This agreement is governed by the laws of New Zealand and the parties submits to the non-exclusive jurisdiction of the courts of New Zealand in respect of any dispute or proceeding
arising out of this agreement. 

  

					
	KEN WEST HOLDINGS by:	 	 	 	 
			
	  	 	 	 	  
	 Signature of director
	 	 	 	 Signature of director

			
	  	 	 	 	  
	 Name of director
	 	 	 	 Name of director

  

					
	CANWEST MEDIAWORKS (NZ) LIMITED by:	 	 	 	 
			
	  	 	 	 	  
	 Signature of director
	 	 	 	 Signature of director

			
	  	 	 	 	  
	 Name of director
	 	 	 	 Name of director

  

 4 

					
	GOLDMAN SACHS JBWERE (NZ) LIMITED by:	 	 	 	 
			
	  	 	 	 	  
	 Signature of director
	 	 	 	 Signature of director

			
	  	 	 	 	  
	 Name of director
	 	 	 	 Name of director

  

					
	NEW ZEALAND EXCHANGE LIMITED by:	 	 	 	 
			
	 and witnessed by:
	 	 	 	 
	  	 	 	 	 Signature of authorised signatory

			
	 	 	 	 	 
	  	 	 	 	 Name of authorised signatory

			
	 	 	 	 	 
	 Signature of witness
	 	 	 	 
			
	 	 	 	 	 
	 Occupation
	 	 	 	 
			
	 	 	 	 	 
	 City/town of residence
	 	 	 	 

  

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