Document:

EXHIBIT 10.69

 Exhibit 10.69 
 June 10, 2009 
 Polar Capital Group, LLC 
 584 Broadway Suite 1206 
 New York, NY 10012

 Attn: Jon Brod, Manager 
 Polar News
Company, LLC 
 584 Broadway Suite 1206 
 New York, NY 10012 
 Attn: Jon Brod, Manager 
 Re: AOL LLC / Patch Media Corporation Merger Consideration Payable to Polar News Company, LLC 
 Ladies and Gentlemen: 
 Reference is hereby made to that certain Agreement and Plan of Merger, dated as of
May 30, 2009, by and among AOL LLC, a Delaware limited liability company (“Parent”), Pumpkin Merger Corporation, a Delaware corporation and a wholly owned Subsidiary of Parent (“Merger Sub”), Patch Media
Corporation, a Delaware corporation (the “Company”), and Jon Brod, in his capacity as the Stockholders’ Agent (as the same may be amended, supplemented, modified and/or restated from time to time, the “Merger
Agreement”). Capitalized terms used and not otherwise defined herein shall have the meaning ascribed to such terms in the Merger Agreement. 
 This letter is being delivered to document our mutual understanding with respect to the treatment of the Series A-1 Merger Consideration that Polar News Company, LLC (“Polar News”) will
receive in connection with the Merger. Pursuant to the terms of the Merger Agreement, following the Closing, Polar News is entitled to receive $5,307,171.82 (the “Polar News Merger Consideration”), $530,902.31 of which will be
placed in the Escrow Fund and be governed by the terms of the Merger Agreement and the Escrow Agreement. As a result of Polar Capital Group, LLC’s (“Polar Capital”) economic interest in Polar News, Polar Capital is entitled to
receive $4,567,171.82 (the “Polar Capital Merger Consideration”) of the Polar News Merger Consideration, less $456,902.31 (which represents Polar Capital’s pro rata share of the amount to be placed in the Escrow Fund on behalf
of Polar News). As a result of Jon Brod’s economic interest in Polar News, Jon Brod is entitled to receive $740,000 (the “Jon Brod Merger Consideration”) of the Polar News Merger Consideration, less $74,000 (which represents
Jon Brod’s pro rata share of the amount to be placed in the Escrow Fund on behalf of Polar News). 
 Immediately following
the Closing, Polar News shall submit a letter of transmittal to the Paying Agent directing the Paying Agent to distribute the Polar News Merger Consideration, net of $530,902.31, as follows: (1) payment to Polar News of $666,000, which
represents the Jon Brod Merger Consideration net of the escrow withholding (which such amount Polar News shall distribute to Jon Brod promptly following receipt from the Paying Agent); and (2) payment to Parent of $4,110,269.51, which
represents the Polar Capital Merger Consideration net of the escrow withholding (which such amount Polar Capital agrees shall be retained by Parent in lieu of distribution to Polar Capital). 
 Upon expiration of the Claim Period, Parent and Jon Brod shall instruct the Escrow Agent to distribute Polar News’ portion of the
Escrow Fund as follows: (1) payment to Polar News of the

 
remaining amount of the escrow withholding portion of the Jon Brod Merger Consideration (which such amount Polar News shall distribute to Jon Brod promptly following receipt from the Escrow
Agent); and (2) payment to Parent of the remaining amount of the escrow withholding portion of the Polar Capital Merger Consideration (which such amount Polar Capital agrees shall be retained by Parent in lieu of distribution to Polar Capital).

 As soon as practicable following the commencement of public trading of a class of equity securities of Parent, its holding
company or successor entity to all or substantially all of the assets and business of Parent (“AOL Securities”) or receipt by Parent of the escrow withholding portion of the Polar Capital Merger Consideration, as applicable, when
Parent, its holding company or successor entity to all or substantially all of the assets and business of Parent is first legally and contractually permitted to do so, Parent agrees to cause to be issued shares of AOL Securities to Polar Capital in
an amount equal to the Polar Capital Merger Consideration received by Parent from the Paying Agent or Escrow Agent at a price per share equal to the average of the high and low price of AOL Securities as reported by the primary national securities
exchange on which such AOL Securities are listed for trading on the day on which shares of AOL Securities are issued to Polar Capital. 
 Each of Polar News, Jon Brod and Polar Capital shall take all actions necessary to amend all agreements to which they are a party or subject, to allow for compliance with the terms and conditions of this letter agreement. 
 (Remainder of this page intentionally left blank) 

 Please indicate receipt of this letter agreement and acceptance of its terms and conditions
by signing in the space provided below and returning to Parent an original signed copy of this letter. 
  

			
	AOL LLC
		
	By:	 	/S/    IRA PARKER
	Name:	 	Ira Parker
	Title:	 	EVP, Coporate & Business Development & General Counsel

 Acknowledged and Agreed: 
  

					
		 	The Polar Capital Group, LLC
			
		 	By:	 	 
		 	Name:	 	Jon Brod
		 	Title:	 	Manager
		
		 	Polar News Company, LLC
			
		 	By:	 	 
		 	Name:	 	Jon Brod
		 	Title:	 	Manager

 Please indicate receipt of this letter agreement and acceptance of its terms and conditions
by signing in the space provided below and returning to Parent an original signed copy of this letter. 
  

			
	 AOL LLC
  

		
	By:	 	 
	Name:	 	
	Title:	 	

 Acknowledged and Agreed: 
  

					
		 	The Polar Capital Group, LLC
			
		 	By:	 	/S/    JON BROD
		 	Name:	 	Jon Brod
		 	Title:	 	Manager
		
		 	Polar News Company, LLC
			
		 	By:	 	/S/    JON BROD
		 	Name:	 	Jon Brod
		 	Title:	 	Manager and MemberEXHIBIT 10.70

 Exhibit 10.70 
 August 11, 2009 
 Polar Capital Group, LLC 
 584 Broadway Suite 1206 
 New York, NY 10012

 Attn: Jon Brod, Manager 
 Polar News
Company, LLC 
 584 Broadway Suite 1206 
 New York, NY 10012 
 Attn: Jon Brod, Manager 
 Re: Accrual of Interest on AOL LLC / Patch Media Corporation Merger Consideration Payable to Polar News Company, LLC 
 Ladies and Gentlemen: 
 Reference is hereby made to that certain Agreement and
Plan of Merger, dated as of May 30, 2009, by and among AOL LLC, a Delaware limited liability company (“Parent”), Pumpkin Merger Corporation, a Delaware corporation and a wholly owned Subsidiary of Parent (“Merger
Sub”), Patch Media Corporation, a Delaware corporation (the “Company”), and Jon Brod, in his capacity as the Stockholders’ Agent (as the same may be amended, supplemented, modified and/or restated from time to time,
the “Merger Agreement”). Capitalized terms used and not otherwise defined herein shall have the meaning ascribed to such terms in the Merger Agreement. 
 Pursuant to the terms of the Merger Agreement, following the Closing, Polar News Company, LLC (“Polar News”) was entitled to receive $5,307,171.82 (the “Polar News Merger
Consideration”), $530,902.31 of which was to be placed in the Escrow Fund and governed by the terms of the Merger Agreement and the Escrow Agreement. As a result of its economic interest in Polar News, Polar Capital Group, LLC
(“Polar Capital”) was entitled to receive $4,567,171.82 (the “Polar Capital Merger Consideration”) of the Polar News Merger Consideration, less $456,902.31 (which represents Polar Capital’s pro rata share of
the amount to be placed in the Escrow Fund on behalf of Polar News). 
 Reference is hereby made to that certain side letter
agreement, dated as of June 10, 2009, by and among Parent, Polar Capital and Polar News (the “Side Letter”). Pursuant to the Side Letter, a portion of the Polar Capital Merger Consideration, equal to $4,110,269.51, was retained
by Parent in lieu of distribution to Polar Capital (such amount, the “Retained Amount”). The Retained Amount represents the Polar Capital Merger Consideration net of the escrow withholding. 
 This letter is being delivered to document our mutual understanding with respect to the accrual of interest on the Retained Amount. From and
after payment of the Retained Amount to Parent by the Paying Agent, the Retained Amount shall accrue interest in the same manner and at the same rate that the Escrow Amount shall accrue interest pursuant to the terms of the Merger Agreement and the
Escrow Agreement. The terms of the Side Letter shall continue to apply to the Retained Amount and shall also apply to any interest accrued thereon. 
 (Remainder of this page intentionally left blank) 

 Please indicate receipt of this letter agreement and acceptance of its terms and conditions
by signing in the space provided below and returning to Parent an original signed copy of this letter. 
  

			
	AOL LLC
		
	By:	 	/S/    IRA PARKER
	Name:	 	Ira Parker
	Title:	 	EVP & General Counsel

 Acknowledged and Agreed: 
  

					
		 	The Polar Capital Group, LLC
			
		 	By:	 	 
		 	Name:	 	Jon Brod
		 	Title:	 	Manager
		
		 	Polar News Company, LLC
			
		 	By:	 	 
		 	Name:	 	Jon Brod
		 	Title:	 	Manager

 Please indicate receipt of this letter agreement and acceptance of its terms and conditions
by signing in the space provided below and returning to Parent an original signed copy of this letter. 
  

			
	AOL LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

 Acknowledged and Agreed: 
  

					
		 	The Polar Capital Group, LLC
			
		 	By:	 	/S/    JON BROD
		 	Name:	 	Jon Brod
		 	Title:	 	Manager
		
		 	Polar News Company, LLC
			
		 	By:	 	/S/    JON BROD
		 	Name:	 	Jon Brod
		 	Title:	 	ManagerEXHIBIT 10.71

 Exhibit 10.71 
 ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of
            , 2009 (the “Asset Distribution Date”), by and among TIME WARNER INC., a Delaware corporation (“TWX”), AOL INC., a Delaware corporation
(“AOL”) and AOL LLC, a Delaware limited liability company (“AOL LLC”). 
 RECITALS

 WHEREAS, TWX and AOL are parties to a Separation and Distribution Agreement dated as of
            , 2009 (the “Separation and Distribution Agreement”); 
 WHEREAS, pursuant to the Separation and Distribution Agreement, TWX and AOL agreed to cause the Internal Transactions, including the Asset Distribution, to be completed; 
 WHEREAS, in order to complete the Asset Distribution, the parties desire to enter into this Agreement; and 
 WHEREAS, terms used but not defined herein have the meanings assigned thereto in the Separation and Distribution Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged by this Agreement, the parties
agree as follows: 
 1. Assignment. Subject to the terms of the Separation and Distribution Agreement, effective as of
the Asset Distribution Date, AOL LLC hereby transfers, assigns, conveys and delivers to AOL, and AOL hereby accepts from AOL LLC, all of AOL LLC’s right, title and interest in the AOL Assets. 
 2. Assumption. Subject to the terms of the Separation and Distribution Agreement, effective as of the Asset Distribution Date, AOL
hereby assumes and agrees faithfully to pay, perform, discharge and fulfill when due, all of the AOL LLC Liabilities. 
 3.
Release. Except as provided in the Separation and Distribution Agreement or any Ancillary Agreement, effective as of the Distribution, AOL does hereby, for itself and each other member of the AOL Group, remise, release and forever discharge
TWX, AOL LLC and the other members of the TWX Group, from any and all AOL LLC Liabilities. 
 4. Further Assurances. Each
party hereto agrees to take such further actions as may be reasonably necessary to effect the transactions contemplated by this Agreement, including any actions after the Asset Distribution Date required in accordance with the terms of the
Separation and Distribution Agreement. 
 5. Separation and Distribution Agreement and Ancillary Agreements. The parties
agree that, in the event of a conflict between the terms of this Agreement and

 
the Separation and Distribution Agreement or any Ancillary Agreement, the terms of the Separation and Distribution Agreement or the relevant Ancillary Agreement, as applicable, shall govern.

 6. Employee Matters Assignment and Assumption Agreement. The parties agree that the Employee Matters Assignment and
Assumption Agreement shall exclusively govern the assignment and assumption of all AOL LLC employment-related assets and liabilities. 
 7. Governing Law; Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of
laws thereof. Each party irrevocably consents to the exclusive jurisdiction, forum and venue of the Commercial Division of the Supreme Court of the State of New York, New York County and the United States District Court for the Southern District of
New York over any and all claims, disputes, controversies or disagreements between the parties or any of their respective subsidiaries, affiliates, successors and assigns under or related to this Agreement or any of the transactions contemplated
hereby. 
 8. Binding Effect. This Agreement shall be binding upon each of the parties and their respective successors
and assigns. 
 9. Counterparts. This Agreement may be executed in one or more counterparts, all of which counterparts
shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. 
 10. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a
court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or
unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially
adverse to any party. Upon any such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable provision to effect the original intent of the parties. 
 11. Headings. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. 
 12. Amendments. No provisions of this Agreement shall be deemed waived,
amended, supplemented or modified by any party hereto, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of each party. Any waiver of any term or condition shall not be construed as a
waiver of any subsequent breach or a subsequent waiver of the same term or

 
condition, or a waiver of any other term or condition of this Agreement. The failure of any party to assert any of its rights hereunder shall not constitute a waiver of any such rights.

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. 
  

			
	TIME WARNER INC.,
		
	 by
	 	
		
		 	 
		 	 Name:
 Title:

  

			
	AOL INC.,
		
	 by
	 	
		
		 	 
		 	 Name:
 Title:

  

			
	AOL LLC,
		
	 by
	 	
		
		 	 
		 	 Name:
 Title:

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