Document:

Exhibit 10.1

AMENDMENT

dated as of October 11, 2006

	
  Goldman, Sachs & Co. (“Dealer”)

  	
  and

  	
  priceline.com
  Incorporated (“Counterparty”)

  

have entered into a
Transaction evidenced by an Issuer Capped Share Call Option Transaction
(5-Year) confirmation, dated September 21, 2006 (the “5-Year Confirmation”)
and a Transaction evidenced by an Issuer Capped Share Call Option Transaction
(7-Year) confirmation, dated September 21, 2006 (the “7-Year Confirmation”
and, together with the 5-Year Confirmation, the “Confirmations”).  Buyer under the Confirmations wishes to
purchase additional Options from Seller thereunder.  To effectuate this additional purchase, the
parties hereby amend the Confirmations as set forth in this Amendment (this “Amendment”).

Accordingly, the parties
agree as follows:—

1.             Amendments

(a)           The 5-Year Confirmation is amended,
effective as of the date of this Amendment by:

(i)            increasing the Number of Options for
each Component by 19,502, from 130,015 to 149,517; and

(ii)           designating a second Premium Payment
Date of October 13, 2006, on which Buyer will pay to Seller an additional
Premium of USD 1,677,375.

(b)           The 7-Year Confirmation is amended,
effective as of the date of this Amendment by:

(i)            increasing the Number of Options for
each Component by 19,502, from 130,015 to 149,517; and

(ii)           designating a second Premium Payment
Date of October 13, 2006, on which Buyer will pay to Seller an additional
Premium of USD 1,737,225.

(c)           Except as provided in this Amendment,
all other terms and conditions of the Options remain the same.

2.             Representations

Each party hereby repeats on the date hereof the
representations made by it in each Confirmation (with references therein to the
“Trade Date” deemed references to the date of this Amendment, other than in
Section 6(a)(viii) and Section 6(g) of the Confirmations).  Each party further represents to the other
party that:—

(a)           Status.  It is duly organized and validly existing
under the laws of the jurisdiction of its organization or incorporation and, if
relevant under such laws, in good standing;

(b)           Powers.  It has the power to execute and deliver this
Amendment and to perform its obligations under this Amendment and has taken all
necessary action to authorize such execution, delivery and performance;

(c)           No Violation or Conflict.  Such execution, delivery and performance do
not violate or conflict with any law applicable to it, any provision of its
constitutional documents, any order or judgment of any court or other agency of
government applicable to it or any of its assets or any contractual restriction
binding on or affecting it or any of its assets;

(d)           Consents.  All governmental and other consents that are
required to have been obtained by it with respect to this Amendment have been
obtained and are in full force and effect and all conditions of any such
consents have been complied with;

 

 

 

(e)           Obligations Binding.  Its obligations under this Amendment
constitute its legal, valid and binding obligations, enforceable in accordance
with its respective terms (subject to applicable bankruptcy, reorganization,
insolvency, moratorium or similar laws affecting creditors’ rights generally
and subject, as to enforceability, to equitable principles of general
application (regardless of whether enforcement is sought in a proceeding in
equity or at law)); and

(f)            Absence of Certain Events.  No Event of Default or
Potential Event of Default or, to its knowledge, Termination Event (each as
defined in the 1992 ISDA Master Agreement referred to in the Confirmations)
with respect to it has occurred and is continuing and no such event or
circumstance would occur as a result of its entering into or performing its
obligations under this Amendment.

3.             Unwind

In the event the sale of
the Optional Securities (as defined in the Purchase Agreement defined in the
Confirmations) is not consummated with the initial purchasers pursuant to the
Purchase Agreement  for any reason by the
close of business in New York on October 13, 2006 (or such later date as agreed
upon by the parties) (such date or such later date as agreed upon being the “Accelerated
Unwind Date”), this Amendment shall automatically terminate (the “Accelerated
Unwind”) on the Accelerated Unwind Date and (i) this Amendment and all of
the respective rights and obligations of Dealer and Counterparty under this
Amendment shall be cancelled and terminated and (ii) each party shall be
released and discharged by the other party from and agrees not to make any
claim against the other party with respect to any obligations or liabilities of
the other party arising out of and to be performed in connection with this
Amendment either prior to or after the Accelerated Unwind Date.  Dealer and Counterparty represent and
acknowledge to the other that upon an Accelerated Unwind, all obligations with
respect to this Amendment shall be deemed fully and finally discharged.

4.             Opinion

Counterparty
shall deliver to Dealer an opinion of counsel, dated as of the date of this
Amendment, with respect to the matters identified in Section 6(e) of each
Confirmation as applied to this Amendment.

5.             Miscellaneous

(a)           Entire Agreement.  The Confirmations and this Amendment
constitute the entire agreement and understanding of the parties with respect
to its subject matter and supersedes all oral communication and prior writings
with respect thereto.

(b)           Amendments.  No amendment, modification or waiver in
respect of this Amendment will be effective unless in writing (including a
writing evidenced by a facsimile transmission) and executed by each of the
parties.

(c)           Counterparts.  This Amendment may be executed and delivered
in counterparts (including by facsimile transmission), each of which will be
deemed an original.

(d)           Headings.  The headings used in this Amendment are for
convenience of reference only and are not to affect the construction of or to
be taken into consideration in interpreting this Amendment.

(e)           Governing Law.  This Amendment will be governed by and
construed in accordance with the laws of the State of New York (without
reference to the conflicts of law principles).

(f)            Agreement Continuation.  The Confirmations, as modified herein, shall
continue in full force and effect.  All
references to the Confirmations in the Confirmations or any document related
thereto shall for all purposes constitute references to the Confirmations as
amended hereby.

(g)           Arbitration.  The parties
acknowledge and agree that the Arbitration provisions of the Confirmations
shall apply to this Amendment as if set forth herein, with references therein
to the “Confirmation” deemed references to this Amendment.

 

 2
 

 

 

IN WITNESS WHEREOF the parties have executed this
Amendment with effect from the date specified on the first page of this
Amendment.

	
  GOLDMAN, SACHS & CO.

  	
  PRICELINE.COM INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Conrad Langenegger

  	
   

  	
  By:

  	
  /s/ Robert J. Mylod, Jr.

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  	
  Name:

  	
  Robert J. Mylod, Jr.

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer

  
							

 

 

 3Exhibit
10.2

AMENDMENT

dated as of October 11, 2006

	
  Merrill Lynch International (“Dealer”), Merrill 

  Lynch, Pierce, Fenner & Smith Incorporated

  	
   

  	
  and

  	
   

  	
  priceline.com Incorporated (“Counterparty”)

  
	
  (“Agent”)

  	
   

  	
   

  	
   

  	
   

  

 

have entered into a
Transaction evidenced by an Issuer Capped Share Call Option Transaction
(5-Year) confirmation, dated September 21, 2006 (the “5-Year Confirmation”)
and a Transaction evidenced by an Issuer Capped Share Call Option Transaction
(7-Year) confirmation, dated September 21, 2006 (the “7-Year Confirmation”
and, together with the 5-Year Confirmation, the “Confirmations”).  Buyer under the Confirmations wishes to
purchase additional Options from Seller thereunder.  To effectuate this additional purchase, the
parties hereby amend the Confirmations as set forth in this Amendment (this “Amendment”).

Accordingly, the parties
agree as follows:—

1.             Amendments

(a)           The 5-Year Confirmation is amended,
effective as of the date of this Amendment by:

(i)            increasing the Number of Options for
each Component by 8,359, from 55,720 to 64,079; and

(ii)           designating a second Premium Payment
Date of October 13, 2006, on which Buyer will pay to Seller an additional
Premium of USD 718,875.

(b)           The 7-Year Confirmation is amended,
effective as of the date of this Amendment by:

(i)            increasing the Number of Options for
each Component by 8,359, from 55,720 to 64,079; and

(ii)           designating a second Premium Payment
Date of October 13, 2006, on which Buyer will pay to Seller an additional
Premium of USD 744,525.

(c)           Except as provided in this Amendment,
all other terms and conditions of the Options remain the same.

2.             Representations

Each party hereby repeats
on the date hereof the representations made by it in each Confirmation (with
references therein to the “Trade Date” deemed references to the date of this
Amendment, other than in Section 6(a)(viii) of the Confirmations).  Each party further represents to the other
party that:—

(a)           Status.  It is duly organized and validly existing
under the laws of the jurisdiction of its organization or incorporation and, if
relevant under such laws, in good standing;

(b)           Powers.  It has the power to execute and deliver this
Amendment and to perform its obligations under this Amendment and has taken all
necessary action to authorize such execution, delivery and performance;

(c)           No Violation or Conflict.  Such execution, delivery and performance do
not violate or conflict with any law applicable to it, any provision of its
constitutional documents, any order or judgment of any court or other agency of
government applicable to it or any of its assets or any contractual restriction
binding on or affecting it or any of its assets;

(d)           Consents.  All governmental and other consents that are
required to have been obtained by it with respect to this Amendment have been
obtained and are in full force and effect and all conditions of any such
consents have been complied with;

(e)           Obligations Binding.  Its obligations under this Amendment
constitute its legal, valid and binding obligations, enforceable in accordance
with its respective terms (subject to applicable bankruptcy, reorganization, 

 

 

insolvency, moratorium or
similar laws affecting creditors’ rights generally and subject, as to
enforceability, to equitable principles of general application (regardless of
whether enforcement is sought in a proceeding in equity or at law)); and

(f)            Absence of Certain
Events.  No Event of
Default or Potential Event of Default or, to its knowledge, Termination Event
(each as defined in the 1992 ISDA Master Agreement referred to in the
Confirmations) with respect to it has occurred and is continuing and no such
event or circumstance would occur as a result of its entering into or
performing its obligations under this Amendment.

3.             Unwind

In the event the
sale of the Optional Securities (as defined in the Purchase Agreement defined
in the Confirmations) is not consummated with the initial purchasers pursuant
to the Purchase Agreement  for any reason
by the close of business in New York on October 13, 2006 (or such later date as
agreed upon by the parties) (such date or such later date as agreed upon being
the “Accelerated Unwind Date”), this Amendment shall automatically
terminate (the “Accelerated Unwind”) on the Accelerated Unwind Date and (i)
this Amendment and all of the respective rights and obligations of Dealer and
Counterparty under this Amendment shall be cancelled and terminated and (ii)
each party shall be released and discharged by the other party from and agrees
not to make any claim against the other party with respect to any obligations
or liabilities of the other party arising out of and to be performed in
connection with this Amendment either prior to or after the Accelerated Unwind
Date.  Dealer and Counterparty represent
and acknowledge to the other that upon an Accelerated Unwind, all obligations
with respect to this Amendment shall be deemed fully and finally discharged.

4.             Opinion

Counterparty shall deliver to Dealer an opinion of counsel, dated
as of the date of this Amendment, with respect to the matters identified in
Section 6(e) of each Confirmation as applied to this Amendment.

5.             Miscellaneous

(a)           Entire Agreement.  The Confirmations and this Amendment
constitute the entire agreement and understanding of the parties with respect
to its subject matter and supersedes all oral communication and prior writings
with respect thereto.

(b)           Amendments.  No amendment, modification or waiver in
respect of this Amendment will be effective unless in writing (including a
writing evidenced by a facsimile transmission) and executed by each of the
parties.

(c)           Counterparts.  This Amendment may be executed and delivered
in counterparts (including by facsimile transmission), each of which will be
deemed an original.

(d)           Headings.  The headings used in this Amendment are for
convenience of reference only and are not to affect the construction of or to
be taken into consideration in interpreting this Amendment.

(e)           Governing Law.  This Amendment will be governed by and
construed in accordance with the laws of the State of New York (without
reference to the conflicts of law principles).

(f)            Agreement Continuation.  The Confirmations, as modified herein, shall
continue in full force and effect.  All
references to the Confirmations in the Confirmations or any document related
thereto shall for all purposes constitute references to the Confirmations as
amended hereby.

(g)           Arbitration. 
The parties acknowledge and agree that
the Arbitration provisions of the Confirmations shall apply to this Amendment
as if set forth herein, with references therein to the “Confirmation” deemed
references to this Amendment.

(h)           Role
of Agent.  The
provisions of Section 11 of the Confirmations regarding the role of Agent as
agent are incorporated by reference herein.

 2
 

 

 

IN WITNESS WHEREOF the
parties have executed this Amendment with effect from the date specified on the
first page of this Amendment.

	
  MERRILL LYNCH INTERNATIONAL

  	
   

  	
  PRICELINE.COM INCORPORATED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Fran Jacobson 

  	
   

  	
  By:

  	
  /s/ Robert J. Mylod, Jr. 

  
	
   

  	
  Authorized Signatory

  	
   

  	
   

  	
  Name:

  	
  Robert J. Mylod, Jr. 

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acknowledged and agreed as to matters to the Agent:

  MERRILL LYNCH, PIERCE, FENNER
  & SMITH 

  INCORPORATED, 

  	
   

  	
   

  
	
  Solely in its capacity as Agent hereunder

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Brian Carroll 

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  	
   

  	
   

  	
   

  
									

 

 3

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