Document:

Exhibit 10.41

 

Exhibit 10.41

ARTISTdirect, Inc.

5670 Wilshire Blvd, Suite 200

Los Angeles, CA 90036

December 23, 2002

Marc Geiger

c/o ARTISTdirect, Inc.

5670 Wilshire Boulevard, Suite 200

Los Angeles, California 90036

	 	 	 	Re: Amendment No. 2 to Employment Agreement

Dear Marc:

     The purpose of this letter is to memorialize the terms and conditions of
our prior agreement on November 1, 2002 to defer the payment of fifty percent
(50%) of your salary. Reference is made to the employment agreement between
you and us dated July 28, 1998 as amended on July 1, 2001 (the “Agreement”).
Capitalized terms used without definition in this amendment to the Agreement
(this “Amendment”) shall have the meanings ascribed to them in the Agreement.

     This Amendment confirms our prior agreement that, notwithstanding anything
to the contrary contained in Section 5(a) of the Agreement, you and we agreed
on November 1, 2002 to amend the Agreement, effective as of November 1, 2002,
to defer payment of fifty percent (50%) (i.e., $250,000) of your future annual
salary as set forth in Section 5(a) of the Agreement for the period of November
1, 2002 through the end of the Term, until our receipt of an aggregate of
Twenty Million Dollars ($20,000,000) or more in new debt or equity financing
(the “Triggering Event”), and, for the avoidance of doubt, excluding any
amounts paid to us as an advance against amounts payable to us under any
agreement regarding the distribution of our products). In addition to the
foregoing, if any of the following other events occur prior to the Triggering
Event, you will also be paid the deferred salary as set forth below; (i) a
merger, consolidation, sale of fifty percent (50%) or more of our voting stock
or sale of all or substantially all of our assets; (ii) your death or your
attainment of age sixty-five (65); or (iii) the termination of your employment
with us. Within thirty (30) days following the Triggering Event or any of the
other events described above, we shall pay you in one lump sum the amount of
your deferred salary, net of applicable tax withholdings. For the avoidance of
doubt, upon the Triggering Event or any of the other events described above,
our agreement to defer fifty percent (50%) of your future salary as
memorialized herein will terminate.

     You understand that salary can only be deferred before it is earned and
before the services it relates to have been rendered. You further understand
that the deferred salary will be credited to an account maintained on your
behalf on our books and records, but no actual trust fund or escrow account
will be established. You will at all times have the status of a general
employee creditor of us with respect to the balance credited to your deferred
salary account, and you will have no right to assign, pledge or otherwise
encumber your interest in that account.

     You hereby confirm that your prior agreement with us on November 1, 2002
to defer payment of fifty percent (50%) of your salary was made voluntarily on
your part for the sole

 

 

Marc Geiger

December 23, 2002

Page 2 of 2

purpose of facilitating our ability to raise additional capital from
outside investors for our operations.

     In signing this Amendment, you agree that you are not relying upon any
statements, representations or promises made by us or our agents, except as
specifically set forth herein. This Amendment, together with the Agreement as
modified herein, sets forth the entire agreement between us and fully
supersedes any and all prior or contemporaneous negotiations, understandings,
agreements or communications, whether written or oral, between us pertaining to
the subject matter hereof.

     As amended hereby, the Agreement remains in full force and effect and is
hereby ratified and affirmed.

	 	 	 	 	 
	 	 	ARTISTdirect, Inc.
	 	 	 	 	 
	 	 	
By:
	 	/s/ JAMES B. CARROLL
	 	 	 	 	

	 	 	 	 	An Authorized Signatory
	 	 	
Its:
	 	EVP & CFO

ACCEPTED AND AGREED:

	 	 	 
	/s/ MARC P. GEIGER

	 	
 

2Exhibit 10.40

 

Exhibit 10.40

ARTISTdirect, Inc.

5670 Wilshire Blvd, Suite 200

Los Angeles, CA 90036

December 23, 2002

Keith Yokomoto

c/o ARTISTdirect, Inc.

5670 Wilshire Boulevard, Suite 200

Los Angeles, California 90036

Re: Amendment to Employment Agreement

Dear Keith:

     The purpose of this letter is to memorialize the terms and conditions of
our prior agreement on August 1, 2002 to defer the payment of your salary as
described below. Reference is made to the employment agreement between you and
us dated July 1, 2001 (the “Agreement”). Capitalized terms used without
definition in this amendment to the Agreement (this “Amendment”) shall have the
meanings ascribed to them in the Agreement.

     This Amendment confirms our prior agreement that, notwithstanding anything
to the contrary contained in Section 5(a) of the Agreement, you and we agreed
on August 1, 2002 to amend the Agreement, effective as of August 1, 2002, to
defer payment of thirty-three percent (33%) (i.e., $166,334) of your future
annual salary as set forth in Section 5(a) of the Agreement for the period of
August 1, 2002 through August 31, 2002; and fifty percent (50%) (i.e.,
$250,000) of your future annual salary for the period of September 1, 2002
through the end of the Term, until our receipt of an aggregate of Twenty
Million Dollars ($20,000,000) or more in new debt or equity financing (the
“Triggering Event”), and, for the avoidance of doubt, excluding any amounts
paid to us as an advance against amounts payable to us under any agreement
regarding the distribution of our products). In addition to the foregoing, if
any of the following other events occur prior to the Triggering Event, you will
also be paid the deferred salary as set forth below; (i) a merger,
consolidation, sale of fifty percent (50%) or more of our voting stock or sale
of all or substantially all of our assets; (ii) your death or your attainment
of age sixty-five (65); or (iii) the termination of your employment with us.
Within thirty (30) days following the Triggering Event or any of the other
events described above, we shall pay you in one lump sum the amount of your
deferred salary, net of applicable tax withholdings. For the avoidance of
doubt, upon the Triggering Event or any of the other events described above,
our agreement to defer your future salary as memorialized herein will
terminate.

     You understand that salary can only be deferred before it is earned and
before the services it relates to have been rendered. You further understand
that the deferred salary will be credited to an account maintained on your
behalf on our books and records, but no actual trust fund or escrow account
will be established. You will at all times have the status of a general
employee creditor of us with respect to the balance credited to your deferred
salary account, and you will have no right to assign, pledge or otherwise
encumber your interest in that account.

 

 

Keith Yokomoto

December 23, 2002

Page 2 of 2

     You hereby confirm that your prior agreement with us on August 1, 2002 to
defer payment of your salary was made voluntarily on your part for the sole
purpose of facilitating our ability to raise additional capital from outside
investors for our operations.

     In signing this Amendment, you agree that you are not relying upon any
statements, representations or promises made by us or our agents, except as
specifically set forth herein. This Amendment, together with the Agreement as
modified herein, sets forth the entire agreement between us and fully
supersedes any and all prior or contemporaneous negotiations, understandings,
agreements or communications, whether written or oral, between us pertaining to
the subject matter hereof.

     As amended hereby, the Agreement remains in full force and effect and is
hereby ratified and affirmed.

	 	 	 	 	 
	 	 	ARTISTdirect, Inc.
	 	 	 	 	 
	   	 	
By:

Its:
	 	/s/ JAMES B. CARROLL

An Authorized Signatory

EVP & CFO

ACCEPTED AND AGREED:

/s/ KEITH YOKOMOTO<PAGE>
                                                                   EXHIBIT 10.25

                                                     Service Agreement No. 38022
                                                          Control No. 930905-054

                              SST SERVICE AGREEMENT

      THIS AGREEMENT, made and entered into this 1st day of November, 1993, by
and between COLUMBIA GAS TRANSMISSION CORPORATION ("Seller") and UGI UTILITIES,
INC. ("Buyer").

      WITNESSETH: That in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:

      Section 1. Service to be Rendered. Seller shall perform and Buyer shall
receive service in accordance with the provisions of the effective SST Rate
Schedule and applicable General Terms and Conditions of Seller's FERC Gas
Tariff, Second Revised Volume No. 1 (Tariff), on file with the Federal Energy
Regulatory Commission (Commission), as the same may be amended or superseded in
accordance with the rules and regulations of the Commission. The maximum
obligation of Seller to deliver gas hereunder to or for Buyer, the designation
of the points of delivery at which Seller shall deliver or cause gas to be
delivered-to or for Buyer, and the points of receipt at which Buyer shall
deliver or cause gas to be delivered, are specified in Appendix A. as the same
may be amended from time to time by agreement between Buyer and Seller, or in
accordance with the rules and regulations of the Commission. Service hereunder
shall be provided subject to the provisions of Part 284.223 of Subpart G of the
Commission's. regulations. Buyer warrants that service hereunder is being
provided on behalf of Buyer.

      Section 2. Term. Service under this Agreement shall commence as of
November 1, 1993, and shall continue in full force and effect until October 31,
2004, and from year-to-year thereafter unless terminated by either party upon
six (6) months' written notice to the other prior to the end of the initial
term granted or any anniversary date thereafter. Pre-granted abandonment shall
apply upon termination of this Agreement, subject to any right of first refusal
Buyer may have under the Commission's regulations and Seller's Tariff.

      Section 3. Rates. Buyer shall pay- Seller the charges and furnish
Retainage as described in the above-referenced Rate Schedule, unless otherwise
agreed to by the parties in writing and specified as an amendment to this
Service Agreement.

      Section 4. Notices. Notices to Seller under this Agreement shall be
addressed to it at Post Office Box 1273, Charleston, West Virginia 25325-1273,
Attention: Manager - Agreements Administration and notices to Buyer shall be
addressed to it at Post Office Box 12677, 100 Kachel Boulevard, Suite 400,
Reading, Pennsylvania 19612-2677, Attention: Earl Smith, until changed by either
party by written notice.
<PAGE>
                                                     Service Agreement No. 38022
                                                          Control No. 930905-054

                         SST SERVICE AGREEMENT (Cont'd)

      Section 5. Prior Service Agreements. This Service Agreement supersedes and
cancels, as of the effective date hereof, the following Service Agreements:

FSS Service Agreement No. 34637, effective November 1, 1989, as it may have
been amended, providing for storage and transportation service under the FSS
Rate Schedule.

UGI UTILITIES, INC.                        COLUMBIA GAS TRANSMISSION CORPORATION

By:    /s/   R. J. Chaney                  By:   /s/  Barry J. Towey
      ---------------------------------          -------------------------------

Title: Vice President & General Manager    Title: Manager - Agreements Admin.
      ---------------------------------          -------------------------------
<PAGE>
                                                                  Revision No. 6
                                                     Control No. 1996-09-18-0014
                    Appendix A to Service Agreement No. 38022

                            Under Rate Schedule S S T

             Between (Seller) COLUMBIA GAS TRANSMISSION CORPORATION

                         and (Buyer) UGI UTILITIES INC.

      October through March Transportation Demand        65,3590   Dth/day

      April through September Transportation Demand       32,678   Dth/day

                             Primary Receipt Points

               Scheduling        Scheduling       Maximum Daily
                Point No.        Point Name       Quantity (Dth/Day)
               -----------------------------------------------------

                  STOW      STORAGE WITHDRAWALS        65,359
<PAGE>
                                                                  Revision No. 6
                                                     Control No. 1996-09-18-0014

                    Appendix A to Service Agreement No. 38022
                            Under Rate Schedule S S T
             Between (Seller) COLUMBIA GAS TRANSMISSION CORPORATION
                         and (Buyer) UGI UTILITIES INC.

                             Primary Delivery Points

<TABLE>
<CAPTION>
                                                                                      Maximum      Maximum
                                                                                       Daily       Delivery
                                                                                      Delivery     Pressure
Scheduling                           Measuring                                       Obligation   Obligation
 Point No.   Scheduling Point Name   Point No.   Footnotes   Measuring Point Name    (Dth/Day)      (PSIG)
------------------------------------------------------------------------------------------------------------
<S>          <C>                     <C>         <C>         <C>                     <C>          <C>
72           UGI CORPORATION          600011         02      UGI Allentown              85,000         400
                                      600012         02      UGI Quakertown              6,170         100
                                      600013         02      UGI Tatamy                  7,800         400
                                      600018         02      UGI Boyertown               4,050         400
                                      600019                 UGI Millway                15,376         400
                                      600020         02      UGI Birdsboro              19,521         400
                                      600021         01      TEMPLE                     20,811
                                      600023         01      BALLY                      11,000
                                      600030         01      Harrisburg                 18,816         400
                                      600032         01      DAUPHIN                    20,811
                                      600033                 UGI Mt. Joy                 1,686         100
                                      600036                 UGI Lititz                  2,976         300
                                      600037                 MANHEIM                     1,488         150
                                      600038                 UGI New Holland            17,856         200
                                      603470                 UGI Marlatta                3,800         400
                                      604626                 UGI Locust Point           27,700         500
                                      630112                 UGI - MORGANTOWN            2,500          60
C23          PENNSBURG                631929         01      PENNSBURG (74-00057            0
C22          EAGLE                    632170         01      EAGLE C.S. (74-00001           0
</TABLE>
<PAGE>
                                                                  Revision No. 6
                                                     Control No. 1996-09-l8-0014
                    Appendix A to Service Agreement No. 38022
                             Under Rate Schedule SST
             Between (Seller) COLUMBIA GAS TRANSMISSION CORPORATION
                         and (Buyer) UGI UTILITIES INC.

S1    /     IF A MAXIMUM PRESSURE IS NOT SPECIFICALLY STATED, THEN SELLER'S
OBLIGATION SHALL BE AS STATED IN SECTION 13 (DELIVERY PRESSURE) OF THE GENERAL
TERMS AND CONDITIONS.

FN01  /     THIS METER IS IN THE TEXAS EASTERN DIRECTS AGGREGATE AREA AND THE
LINE 1278 NORTH AGGREGATE AREA.

FN02  /     THIS METER IS IN THE LINE 1278 NORTH AGGREGATE AREA.

GFNT  /     UNLESS STATION SPECIFIC MOODS ARE SPECIFIED IN A SEPARATE FIRM
SERVICE AGREEMENT BETWEEN SELLER AND BUYER, SELLER'S AGGREGATE MAXIMUM DAILY
DELIVERY OBLIGATION, UNDER THIS AND ANY OTHER SERVICE AGREEMENT BETWEEN SELLER
AND BUYER, AT THE STATIONS, LISTED ABOVE SHALL NOT EXCEED THE MOOD QUANTITIES
SET FORTH ABOVE FOR EACH STATION IN ADDITION, SELLER SHALL NOT BE OBLIGATED ON
ANY DAY TO DELIVER MORE THAN THE AGGREGATE DAILY QUANTITIES,(ADQ) LISTED BELOW
IN THE AGGREGATE AREAS LISTED BELOW. THE STATIONS FOOTNOTED ABOVE WITH A 1 OR 2
ARE IN THE AGGREGATE AREAS SET FORTH IN GREATER DETAIL BELOW. ANY STATION
SPECIFIC MOODS IN A SEPARATE FIRM SERVICE AGREEMENT BETWEEN SELLER AND BUYER
SHALL BE ADDITIVE BOTH TO THE INDIVIDUAL STATION MOODS SET FORTH HEREIN AND TO
ANY APPLICABLE AGGREGATE DAILY QUANTITY SET FORTH BELOW.

<TABLE>
<CAPTION>
FOOTNOTE                                                   AGGREGATE
 NUMBER           AGGREGATE AREA NAME                    DAILY QUANTITY
--------------------------------------------------------------------------
<S>         <C>                                         <C>

    1       TEXAS EASTERN DIRECTS AGGREGATE AREA          20,811 DTH/D
            (FROM NOVEMBER 1 - MARCH 31)

    1       TEXAS EASTERN DIRECTS AGGREGATE AREA          22,524 DTH/D
            (FROM APRIL 1 - OCTOBER 31)

    1+2     ADQ FOR AGGREGATE AREA FOOTNOTE              100,000 DTH/D
            NUMBERS 1 AND 2
</TABLE>
<PAGE>
                                                                  Revision No. 6
                                                     Control No. 1996-09-18-0014

                    Appendix A to Service Agreement No. 38022

                            Under Rate Schedule S S T
             Between (Seller) COLUMBIA GAS TRANSMISSION CORPORATION
                          and (Buyer) UGI UTILITIES INC

The Master List of Interconnects (MLI) as defined in Section 1 of the General
Terms and Conditions of Seller's Tariff is incorporated herein by reference for
the purposes of listing valid secondary receipt and delivery points.

Service changes pursuant to this Appendix A shall become effective as of OCTOBER
01, 1996. This Appendix A shall cancel and supersede the previous Appendix A
effective as of APRIL 01, 1996, to the Service Agreement referenced above. With
the exception of this Appendix A, all other terms and conditions of said Service
Agreement shall remain in full force and effect.

UGI UTILITIES INC

By:
   -----------------------------------

Name:
     ---------------------------------

Title:
      --------------------------------

Date:
     ---------------------------------

COLUMBIA GAS TRANSMISSION CORPORATION

By:
   -----------------------------------

Name:
     ---------------------------------

Title:
      --------------------------------

Date:
     ---------------------------------

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