Document:

Exhibit 10.82.2

 

Additional  Agreement #1

to  Agency  Agreement # KT-355/1208 dated  December 29th, 2008

(hereinafter referred to as the “Agency
Agreement”)

 

	
  Moscow

  	
   

  	
  December 29th, 2008

  

 

“TV DARYAL” Closed Joint-Stock Company (OGRN
1027739313205), hereinafter referred to as the “Principal”, represented by its General Director
V.V.Kartashkov, acting on the basis of the Articles, on the one part, and

 

“Kompaniya TSV” Limited Liability Company
(OGRN 5077746859757), hereinafter referred to as the “Agent”, represented by its General Director S.A. Vasiliev,
acting on the basis of the Articles, on the other part, have made this
Additional Agreement to the Agency Agreement as follows:

 

Capitalized terms used herein and not otherwise defined herein shall
have the meaning ascribed to such terms in the Agency Agreement.

 

1. The Agent
guarantees the payment to the Principal at its expense of the amounts overdue
for the advertising services from 6.00 a.m. (Moscow time) on January 01st, 2009 under Client Agreements
made directly by the Agent during the term of the Agency Agreement subject to
existence of each of the following conditions:

 

1.1. The Client has not paid in full or in part for the advertising
services. In such case the Agent guarantees solely the payment of the principal
amount of debt (i.e. the amounts due for the advertising services and not the
penalties, termination fees, etc.);

 

1.2. The amounts have remained outstanding for 180 (One Hundred Eighty)
calendar days or longer, counting from the first day following the date the
services acceptance statement was executed under the respective agreement;

 

1.3. The total amount of indebtedness of all Clients outstanding for
over 180 (One Hundred Eighty) calendar days exceeds the doubtful debt threshold
set forth in section 2 of this Additional Agreement.

 

1.4. The Client has not objected against the claims for payment of the
outstanding amounts on the basis of improper performance or non-performance of
the agreement for advertising services by the Principal and/or existence of the
counterclaims against the Principal.

 

1.5. The systemic risk as defined in section 5 hereof has not
materialized.

 

2. The doubtful debt
threshold shall be defined by the Parties as the amount equal to 0.05% of the
Principal’s Gross Target Sales Revenues (including VAT) for the respective
calendar year of the term of the Agency Agreement.  The Principal’s Gross Target Sales Revenues
are further defined by the Parties as the Principal’s projected gross
advertising revenues based on the Principal’s forecasts for the respective
calendar year.

 

The Parties shall determine annually by March 31st of each calendar year the doubtful debt
threshold expressed as an exact amount, by executing a protocol to this
Additional Agreement.  Such doubtful debt
threshold shall be updated by January 20th of
each following calendar year and shall be equal to 0.05% of the Principal’s
Actual Gross Sales Revenues for the prior calendar year.

 

3. The terms and
conditions for performance by the Agent of its obligations set forth in section
1 of this Additional Agreement:

 

3.1. The amount of the Agent’s guarantee (hereinafter “guarantee
obligation amount”) shall be determined using the formula below:

 

 

where:

 

P i is the guarantee obligation
amount as determined for i-quarter of the respective calendar year.

 

bD i is the amount overdue from the Clients as at
the end of i-quarter of the respective calendar year, based on section 1 of
this Additional Agreement, net of any debt settled by the Clients and/or paid
by the Agency.

 

 

L is the  doubtful debt threshold
set for the respective calendar year according to section 2 of this Additional
Agreement.

 

i is a sequential number for the quarter of the respective calendar
year (1 to 4).

 

The calculation shall be made for one calendar year and there shall be
no carry over to the following year.

 

3.2. The Agent’s guarantee obligation amount to be paid to the
Principal shall be determined by the Parties within 10 (Ten) business days
after the end of the respective quarter and set forth in the respective
Statement.  The Agent shall perform its
obligations to pay the guarantee obligation amount within 10 (Ten) banking days
from receipt of the respective claims from the Principal issued pursuant to the
respective Statement.

 

4. As soon as the
Agent has paid its guarantee obligation amount to the Principal with respect to
the amounts overdue from the Clients the Agent’s obligation to transfer the
funds under the Agency Agreement in respect of the agreement with the
non-paying Client shall terminate to the extent of the Client’s indebtness has
been paid by the Agent, and the Agent shall become the creditor of such
non-paying Client in its own right rather than to the benefit of the Principal
with respect to the amount of the Client’s indebtedness paid by the Agent to
the Principal as shown by the respective calculation.   If the Client, which overdue payment
obligation has been settled to the Principal by the Agent (paid at its own
expense) pursuant to the procedure described above, pays to the Agent or the
Principal the debt earlier paid by the Agent, the Principal agrees that the
indebtedness amount so paid by the Client shall be retained by the Agent.

 

5. The Parties
define the systemic risk as the occurrence of the events that result in the significantly
decreased ability of the Clients generally to pay their accounts payable and/or
the inability of the Principal to perform its obligations, such as:

 

· sovereign default -  the refusal of the Russian government to
repay government debt and debt issued under government guarantees or agreement
on significant deferral due to inability of the Russian government to meet its
repayment obligations in respect of the above debt;

· sovereign credit rating of the Russian
Federation downgraded to D by Standard & Poor’s (S&P);

· foreign exchange trading in the US dollar or the
Euro ceases for longer than 90 (Ninety) consecutive calendar days.

 

6. The Parties agree
that the obligations assumed by the Agent (as set forth in sections 1 to 5
hereof) shall constitute material conditions of the Agency Agreement and this
Additional Agreement and, notwithstanding any provision of this Additional
Agreement or the Agency Agreement to the contrary, that their unilateral
modification by the Agent (including through court proceedings) shall entitle
the Principal to terminate the Agency Agreement without payment of any
termination fees (provided by section 8.2.1 of the Agency Agreement).

 

7. The Parties agree that the Agency Fee payable to the
Agent by the Principal in accordance with the terms and conditions of the
Agency Agreement of 12% (Twelve percent) of the Principal’s Actual Gross
Revenues shall include the compensation for the actions/activities set forth
in  section 1 of this Additional
Agreement.

 

8. This Additional
Agreement is made in duplicate with the same legal effect with one copy for
each Party.

 

9. This Additional
Agreement shall take effect upon signing and shall form an integral part of the
Agency Agreement.

 

2

 

Signatures and Seals of the Parties:

 

	
  Principal:

  	
   

  	
  Agent:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ V.V. Kartashkov

  	
   

  	
  /s/ S.A. Vasiliev

  
	
   

  	
   

  	
   

  
	
  (V.V. Kartashkov) L.S.

  	
   

  	
  (S.A. Vasiliev) L.S.

  

 

3Exhibit 10.82.3

 

SURETY
DEED

TO AGREEMENT # KT-355/1208 dated December 29th, 2008

 

	
   

  	
  Moscow

  	
  December 29th, 2008

  

 

“TV
DARYAL” Closed Joint-Stock Company (OGRN 1027739313205), hereinafter
referred to as the “Principal”,
represented by its General Director V.V.Kartashkov, acting on the basis of the
Articles, as the first party,

 

“Video
International” Group of Companies Closed Joint Stock Company (OGRN
1027739121497), hereinafter referred to as the “Surety”, represented
by its Vice-President for Financial, Economic and Administrative Issues Mr. A.I.Novikov,
acting on the basis of Power of Attorney #GK-62/0407 of April 02nd, 2007, as the second
party,

 

“Kompaniya
TSV” Limited Liability Company (OGRN 5077746859757), hereinafter
referred to as the “Agent”, represented by its General Director S.A. Vasiliev,
acting on the basis of the Articles, as the third party, made this Deed
(hereinafter referred to as the “Deed”) as follows:

 

1. SUBJECT OF THE DEED

 

1.1. Under this Deed the
Surety agrees to be liable to the Principal for improper performance by the
Agent of any financial obligations arising out of Agreement #KT-355/1208 dated December 29th, 2008 (hereinafter referred to as the “Agency Agreement”) including the
following:

 

a) timely transfer to the Principal of any funds
received by the Agent from the advertising clients (Clauses 4.4, 4.7 of the
Agency Agreement) within the period prescribed by the Agency Agreement or by
law;

 

b)
payment by the Agent of the penalty at the rate of 0.1% (One tenth percent) of
any overdue payment for each banking day of delay (Clause 5.2 of the Agency
Agreement);

 

c) payment of a penalty to the Principal (Clause 8.2.1
of the Agency Agreement) within the terms specified in the Agency Agreement;

 

d) timely fulfillment of the guaranteed obligation for
payment of the customers’ overdue debt for advertising services (Clause 1 of
Additional Agreement #1 dated December 29th, 2008 to the Agency
Agreement) within the terms specified in Additional Agreement #1 dated December 29th, 2008 to the Agency
Agreement.

 

2. OBLIGATIONS OF THE PARTIES

 

2.1. The Surety shall be responsible to the Principal
jointly and severally with the Agent for improper fulfillment of the Agent’s
obligations listed in Clause 1.1 hereof under the Agency Agreement and Additional
Agreement #1 dated December 29th, 2008 to the Agency
Agreement to the same extent as the Agent within the term specified in the
Agency Agreement and Additional Agreement #1 dated December 29th, 2008 to the Agency
Agreement.

 

2.2. The liability of the Surety shall arise upon
non-performance and/or improper performance by the Agent of its obligations
listed in Clause 1.1 hereof under the Agency Agreement and Additional Agreement
#1 of December 29th, 2008 to the Agency Agreement.

 

2.3. The Agent shall promptly advise the Surety on all
and any failures to perform its obligations arising out of the Agency Agreement
and any circumstances affecting performance of the Agent’s obligations to the
Principal.

 

2.4. In case of failure to fulfill and/or improper
fulfillment by the Agent of its obligations to the Principal secured by this
Surety, the Principal shall have the right to either demand at its discretion
fulfillment of its obligations by the Agent or by the Guarantor or enforce the
collection from the Surety or the Agent in compliance with the procedure
established by law.

 

2.5. If the Surety has paid the amounts claimed by the
Principal under the obligation secured by the Surety, the Surety shall assume
all rights of the creditor (the Principal) with respect to the amounts of
actually paid claims. In addition to the amount actually paid to the Principal
the Surety shall be entitled to demand from the Agent the compensation for
damages, incurred in settling its liabilities.

 

2.6. Within three days after fulfillment by the Surety
of the Agent’s obligations under the Agency Agreement and/or Additional
Agreement #1 dated December 29th, 2008 to the Agency
Agreement, the Principal shall issue to the Guarantor the documents certifying
the Principal’s claims towards the Agent and transfer the rights under such
claim.

 

   3. SURETY  TERM  AND  TERMINATION

 

3.1. The Surety deed shall be in force for the entire
duration of the Agency Agreement.

 

The Principal, however, may not present its demand to
the Surety to pay any amounts under section 1.1. hereof after December 31st, 2010.

 

3.2.  The Surety shall
terminate:

 

a) in respect of the obligations under section 1.1.
hereof — if no demand for payment of the respective amounts is presented to the
Surety by the Principal by December 31st, 2010;

 

 

b) if the Principal refused
to accept proper performance under the Agency Agreement and/or Additional
Agreement #1 dated December 29th,
2008 to the Agency Agreement as offered by the Agent or the Surety (this
provision shall apply only in respect of the Surety for a specific obligation
of the Agent, which the Principal has refused to accept and shall not terminate
the Surety Deed in its entirety);

 

c) in the event the Agent has properly performed all
of its obligations under the Agency Agreement secured by the Surety; and

 

d) in other cases provided by law.

 

4. PROCEEDINGS ON DISPUTES BETWEEN THE PARTIES

 

4.1.
Any differences and disputes arising out of this Surety Deed or in connection
therewith shall be settled by the Parties by negotiations.

 

4.2.
In case the parties fail
to settle any disputes by negotiations, such disputes shall be referred to the
Moscow Arbitrazh Court.

 

Executed in three counterparts with the same
legal effect with one for each Party.

 

Addresses and Banking Details of
the Parties:

 

Principal

 

“TV DARYAL” Closed Joint-Stock
Company

Address:
129515, Moscow,  4, Akademika Koroleva
Street, bld.4

Postal
address:  129226, Moscow,  16, Dokukina Street, bld.1

TIN
7716143718, KPP 771701001,
OGRN  1027739313205

s/a
40702810501600000917 with ALFA-BANK OAO Moscow, c/a 30101810200000000593,

BIC
044525593

Hard
currency account details:

«TV  DARYAL» ZAO

16, Dokukina
Str., 1, 129226, Moscow, Russian Federation

Beneficiary
account: 40702840101600000196

Swift:
CHASUSS33,

Correspondent
account # 400927098 with JPMorgan CHASE BANK,

New York, 4,
New York Plaza, N.Y. 10004, USA.

 

Surety

 

“Video International” Group of Companies Closed Joint-Stock Company 

Address and postal
address: 121359, Moscow,  25, Akademika
Pavlova Street

TIN 7721097496,

OGRN 1027739121497,

s/a
40702810038190102638 in the Kiev Department of Sberbank of Russia # 5278 OAO
Moscow,

c/a
30101810400000000225,

BIC 044525225.

 

Agent

 

“Kompaniya TSV” Closed
Joint-Stock Company

Address and postal address: 121359, Moscow,  25, Akademika Pavlova Street

TIN 7731568585, KPP 773101001, OGRN  5077746859757,

s/a 4070 2810 3382 6011 0108 in the Kiev Department of
Sberbank of Russia # 5278 OAO Moscow,

c/a 3010 1810 4000 0000 0225,

BIC 044525225.

 

Signatures of the Parties:

 

	
  Principal

  	
   

  	
  Surety

  	
   

  	
  Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ V.V. Kartashkov

  	
   

  	
  /s/ A.I. Novikov

  	
   

  	
  /s/ S.A. Vasiliev

  
	
  (V.V. Kartashkov) L.S.

  	
   

  	
  (A.I. Novikov) L.S.

  	
   

  	
  (S.A. Vasiliev) L.S.

  

 

2

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