Document:

EX10.4 09.30.2014

Exhibit 10.4

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

This FIRST AMENDMENT (this “Amendment”) to that certain Employment Agreement, dated August 1, 2014 (the “Employment Agreement”), by and between Performance Technologies, L.L.C. (the “Company”), and Bill Stanger (the “Executive”) is made to be effective as of October 29, 2014.  Capitalized words and phrases used in this Amendment but not defined herein shall have the meanings set forth in the Employment Agreement.  Executive and the Company are referred to collectively herein as the “Parties.”
R E C I T A L S:
WHEREAS, the Parties entered into the Employment Agreement on August 1, 2014; and
WHEREAS, the Parties wish to amend certain provisions of the Employment Agreement.
NOW THEREFORE, the Parties hereby agree as follows:
1.Amendment to Section 5.4(a) of the Employment Agreement.  Section 5.4(a) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:
“(a)     An amount equal to the sum of the following: (i) one and three quarters (1.75) times the sum of the Executive’s Base Salary for the year in which the Termination Date occurs (or if greater, the year immediately preceding the year in which the Change in Control occurs), plus (ii) one (1) times the greater of (i) the Executive’s Annual Bonus received for the immediately preceding year or (ii) the Executive’s target bonus, if any, for the year in which the Termination Date occurs. Such amount shall be paid (A) in substantially equal monthly installments beginning on the Payment Date and continuing through the Restricted Period and (B) such amount less the aggregate payments made pursuant to clause (A) in a lump sum within ten (10) days following the end of the Restricted Period;”
2.References in the Employment Agreement.  All references in the Employment Agreement to “this Agreement” shall mean the Employment Agreement as amended by this Amendment.
3.No Other Amendments.  Except as modified by this Amendment, the Employment Agreement shall remain in full force and effect.  Nothing herein shall be held to alter, vary or otherwise affect the terms, conditions and provisions of the Employment Agreement, other than as expressly contemplated herein.
4.Severability.  If any provision of this Amendment shall be held invalid, illegal or unenforceable, the validity, legality or enforceability of the other provisions hereof shall not be affected thereby, and there shall be deemed substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue.
5.Governing Law: Jurisdiction and Venue.  This Amendment, for all purposes, shall be construed in accordance with the laws of Oklahoma without regard to conflicts of law principles; 

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Exhibit 10.4

provided, however, that any provisions relating to equity compensation shall also be subject to any federal or state securities laws that may be applicable and the rules of any stock exchange on which the relevant equity is listed for trading. Any action or proceeding by either of the parties to enforce this Amendment shall be brought only in a state or federal court located in Oklahoma County, Oklahoma, or in arbitration located in Oklahoma County, Oklahoma. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts and/or arbitration and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue.
6.Counterparts.  This Amendment may be executed in multiple counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.

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Exhibit 10.4

IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Amendment as of the date first written above.

PERFORMANCE TECHNOLOGIES, L.L.C. 
 
 
By:    /s/ Jerry Winchester             
Name: Jerry Winchester 
Title:   Chief Executive Officer 
EXECUTIVE:
/s/ Bill Stanger                
Bill Stanger

[SIGNATURE PAGE TO FIRST AMENDMENT TO EMPLOYMENT AGREEMENT]LYV-2014.9.30-EX10.1

EXHIBIT 10.1

FIRST SUPPLEMENTAL INDENTURE
Dated as of August 27, 2014
Among
LIVE NATION ENTERTAINMENT, INC.,  
 
TICKETSTODAY, LLC,
The Existing Guarantors Party Hereto
And
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee

THIS FIRST SUPPLEMENTAL INDENTURE (this “First Supplemental Indenture”), entered into as of August 27, 2014, among LIVE NATION ENTERTAINMENT, INC., a Delaware corporation (the “Issuer”), the guarantors listed in Appendix I attached hereto (the “Existing Guarantors”), TICKETSTODAY, LLC, a Virginia limited liability company (the “New Guarantor,” and together with the Existing Guarantors, the “Guarantors”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as trustee (the “Trustee”).
RECITALS
WHEREAS, the Issuer, the Existing Guarantors and the Trustee are parties to an Indenture, dated as of May 23, 2014 (the “Indenture”), relating to the Issuer’s 5.375% Senior Notes due 2022 (the “Notes”); 
WHEREAS, Section 4.13 of the Indenture requires the Issuer to cause each Domestic Subsidiary that is not a Guarantor under the Notes but becomes a guarantor under a Credit Facility to execute and deliver to the Trustee a supplemental indenture pursuant to which such Domestic Subsidiary shall unconditionally guarantee all of the Issuer’s obligations under the Indenture and the Notes;
WHEREAS, the Issuer desires to amend the Notes pursuant to Section 9.01 of the Indenture to reflect the addition of the New Guarantor;
WHEREAS, pursuant to Section 9.01 of the Indenture, the Issuer, the Guarantors and the Trustee can execute this First Supplemental Indenture without the consent of holders;  
WHEREAS, all things necessary have been done to make this First Supplemental Indenture, when executed and delivered by the Issuer and the Guarantors, the legal, valid and binding agreement of the Issuer and the Guarantors, in accordance with its terms; and
NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this First Supplemental Indenture hereby agree as follows:
ARTICLE I
Section 1.1    Capitalized Terms.  Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture.
Section 1.2    Agreement to Guarantee.  The New Guarantor hereby agrees to guarantee the Issuer’s obligations under the Notes on the terms and subject to the conditions set forth in Article 10 of the Indenture.  From and after the date hereof, the New Guarantor shall be a Guarantor for all purposes under the Indenture and the Notes.
Section 1.3    Incorporation of Terms of Indenture.  The obligations of the New Guarantor under the Guarantee shall be governed in all respects by the terms of the Indenture and shall constitute a Guarantee thereunder.  The New Guarantor shall be bound by the terms of the Indenture as they relate to the Guarantee.
                                                            

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                                                                     ARTICLE II    
Section 2.1    Amendment of the Notes.  Any corresponding provisions reflected in the Notes shall also be deemed amended in conformity herewith.
Section 2.2    Effectiveness of Amendments.  This First Supplemental Indenture shall be effective upon execution hereof by the Issuer, the Guarantors and the Trustee.
Section 2.3    Interpretation; Severability.  The Indenture shall be modified and amended in accordance with this First Supplemental Indenture, and all the terms and conditions of both shall be read together as though they constitute one instrument, except that, in case of conflict, the provisions of this First Supplemental Indenture will control.  The Indenture, as modified and amended by this First Supplemental Indenture, is hereby ratified and confirmed in all respects and shall bind every holder of Notes.  In case of conflict between the terms and conditions contained in the Notes and those contained in the Indenture, as modified and amended by this First Supplemental Indenture, the provisions of the Indenture, as modified by this First Supplemental Indenture, shall control.  In case any provision in this First Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
Section 2.4    Governing Law.  This First Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.
Section 2.5    Counterparts.  This First Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.
Section 2.6    Effect of Headings.  The Section headings herein are for convenience only and shall not effect the construction hereof. 
Section 2.7    Trustee.  The recitals contained herein are made by the Issuer and the Guarantors, and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this First Supplemental Indenture.  All rights, protections, privileges, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee under this First Supplemental Indenture.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed as of the date first above written.
LIVE NATION ENTERTAINMENT, INC., 
as Issuer
By:       /s/ Kathy Willard
Name:    Kathy Willard 
Title:    Executive Vice President, Chief Financial Officer
and Assistant Secretary

TICKETSTODAY, LLC, 
as New Guarantor

By:    Live Nation Worldwide, Inc.,
its sole member
By:  /s/ Kathy Willard     
Name:    Kathy Willard
Title:    President, Chief Financial Officer and  
    Assistant Secretary

Signature Page to First Supplemental Indenture

CONNECTICUT PERFORMING ARTS PARTNERS

By:    NOC, INC., a general partner

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    President, Chief Financial Officer
and Assistant Secretary

		
	By:
	CONNECTICUT AMPHITHEATER DEVELOPMENT CORPORATION, a general partner

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    President, Chief Financial Officer
and Assistant Secretary

BIGCHAMPAGNE, LLC

By:    TICKETMASTER L.L.C,
its sole member

By:    /s/ Michael Rowles
Name:    Michael Rowles
Title:    Executive Vice President, General Counsel
and Secretary

Signature Page to First Supplemental Indenture

EVENING STAR PRODUCTIONS, INC.
EVENT MERCHANDISING INC.
FLMG HOLDINGS CORP.
LIVE NATION LGTOURS (USA), LLC
LIVE NATION USHTOURS (USA), LLC
MICROFLEX 2001 LLC
NEW YORK THEATER, LLC
SHORELINE AMPHITHEATRE, LTD.
TICKETMASTER ADVANCE TICKETS, L.L.C.
TICKETMASTER CHINA VENTURES, L.L.C.
TICKETMASTER EDCS LLC
TICKETMASTER-INDIANA, L.L.C.
TICKETMASTER L.L.C.
TICKETWEB, LLC

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    Executive Vice President, Chief Financial Officer 
    and Assistant Secretary

Signature Page to First Supplemental Indenture

HOB BOARDWALK, INC.
HOB CHICAGO, INC.
HOB ENTERTAINMENT, LLC
HOB PUNCH LINE S.F. CORP.
HOUSE OF BLUES ANAHEIM RESTAURANT CORP.
HOUSE OF BLUES CLEVELAND, LLC
HOUSE OF BLUES CONCERTS, INC.
HOUSE OF BLUES DALLAS RESTAURANT CORP.
HOUSE OF BLUES HOUSTON RESTAURANT CORP.
HOUSE OF BLUES LAS VEGAS RESTAURANT CORP.
HOUSE OF BLUES LOS ANGELES RESTAURANT CORP.
HOUSE OF BLUES MYRTLE BEACH
RESTAURANT CORP.
HOUSE OF BLUES NEW ORLEANS RESTAURANT CORP.
HOUSE OF BLUES ORLANDO RESTAURANT CORP.
HOUSE OF BLUES RESTAURANT HOLDING CORP.
HOUSE OF BLUES SAN DIEGO RESTAURANT CORP.
LIVE NATION CHICAGO, INC.
LIVE NATION CONCERTS, INC.
LIVE NATION MID-ATLANTIC, INC.

By:    /s/ Michael Rowles
Name:    Michael Rowles
Title:    President

HOUSE OF BLUES SAN DIEGO, LLC

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    Executive Vice President and Chief Accounting Officer

HARD EVENTS LLC
LIVE NATION BOGART, LLC
LIVE NATION – HAYMON VENTURES, LLC
LN ACQUISITION HOLDCO LLC
MICHIGAN LICENSES, LLC
MUSICTODAY, LLC
WILTERN RENAISSANCE LLC

By:    LIVE NATION WORLDWIDE, INC.,
its sole member

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    President, Chief Financial Officer 
    and Assistant Secretary

Signature Page to First Supplemental Indenture

 

FRONT LINE MANAGEMENT GROUP, INC.
ILA MANAGEMENT, INC.
LIVE NATION MERCHANDISE, INC.
LIVE NATION MTOURS (USA), INC.
LIVE NATION STUDIOS, LLC
LIVE NATION TICKETING, LLC
LIVE NATION TOURING (USA), INC.
LIVE NATION UTOURS (USA), INC.
MORRIS ARTISTS MANAGEMENT LLC
REIGNDEER ENTERTAINMENT CORP.
SPALDING ENTERTAINMENT, LLC
TNA TOUR II (USA) INC.
VECTOR MANAGEMENT LLC
VECTOR WEST, LLC
VIP NATION, INC.

By:    /s/ Michael Rowles
Name:    Michael Rowles
Title:    Executive Vice President,
General Counsel and Assistant Secretary

BILL GRAHAM ENTERPRISES, INC.
CELLAR DOOR VENUES, INC.
COBB’S COMEDY INC.
CONNECTICUT AMPHITHEATER DEVELOPMENT CORPORATION
CONNECTICUT PERFORMING ARTS, INC.
FILLMORE THEATRICAL SERVICES
HOB MARINA CITY, INC.
IAC PARTNER MARKETING, INC.
LIVE NATION MARKETING, INC.
LIVE NATION VENTURES, INC.
LIVE NATION WORLDWIDE, INC.
NOC, INC.
THE V.I.P. TOUR COMPANY
TICKETMASTER NEW VENTURES HOLDINGS, INC.
TICKETSNOW.COM, INC.
TM VISTA, INC.
TNOW ENTERTAINMENT GROUP, INC.

By:    /s/ Kathy Willard
Name:    Kathy Willard
Title:    President, Chief Financial Officer 
and Assistant Secretary

Signature Page to First Supplemental Indenture

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
as Trustee
		
	By:
	/s/: Jonathan Glover

Name: Jonathan Glover    
		
	Title: Vice President
	 

Signature Page to First Supplemental Indenture

 

APPENDIX I
Existing Guarantors 
BIGCHAMPAGNE, LLC,
FLMG HOLDINGS CORP.,
IAC PARTNER MARKETING, INC.,
MICROFLEX 2001 LLC,
TICKETMASTER ADVANCE TICKETS, L.L.C.,
TICKETMASTER CHINA VENTURES, L.L.C.,
TICKETMASTER EDCS LLC,
TICKETMASTER L.L.C.,
TICKETMASTER NEW VENTURES HOLDINGS, INC.,
TICKETMASTER-INDIANA, L.L.C.,  
 
TM VISTA INC.,
THE V.I.P. TOUR COMPANY,
TICKETSNOW.COM, INC.,
TNOW ENTERTAINMENT GROUP, INC., 

TICKETWEB, LLC,
FRONT LINE MANAGEMENT GROUP, INC.,
ILA MANAGEMENT, INC.,
MORRIS ARTISTS MANAGEMENT LLC,
REIGNDEER ENTERTAINMENT CORP.
SPALDING ENTERTAINMENT, LLC,
VECTOR MANAGEMENT LLC,
VECTOR WEST, LLC,
VIP NATION, INC.,

Appendix I

BILL GRAHAM ENTERPRISES, INC.,
CELLAR DOOR VENUES, INC.,
COBB’S COMEDY INC.,
CONNECTICUT AMPHITHEATER DEVELOPMENT CORPORATION,
CONNECTICUT PERFORMING ARTS, INC.,
CONNECTICUT PERFORMING ARTS PARTNERS,
EVENING STAR PRODUCTIONS, INC.,
EVENT MERCHANDISING INC.,
FILLMORE THEATRICAL SERVICES,
HARD EVENTS LLC
HOB BOARDWALK, INC.,
HOB CHICAGO, INC.,
HOB ENTERTAINMENT, LLC,
HOB MARINA CITY, INC.,
HOB PUNCH LINE S.F. CORP.
HOUSE OF BLUES ANAHEIM RESTAURANT CORP.,
HOUSE OF BLUES CLEVELAND, LLC,
HOUSE OF BLUES CONCERTS, INC.,
HOUSE OF BLUES DALLAS RESTAURANT CORP.,
HOUSE OF BLUES HOUSTON RESTAURANT CORP.,
HOUSE OF BLUES LAS VEGAS RESTAURANT CORP.,
HOUSE OF BLUES LOS ANGELES RESTAURANT CORP.,
HOUSE OF BLUES MYRTLE BEACH RESTAURANT CORP.,

Appendix I

HOUSE OF BLUES NEW ORLEANS RESTAURANT CORP.,
HOUSE OF BLUES ORLANDO RESTAURANT CORP.,
HOUSE OF BLUES RESTAURANT HOLDING CORP.,
HOUSE OF BLUES SAN DIEGO, LLC,
HOUSE OF BLUES SAN DIEGO RESTAURANT CORP.,
LIVE NATION BOGART, LLC
LIVE NATION CHICAGO, INC.
LIVE NATION CONCERTS, INC.
LIVE NATION – HAYMON VENTURES, LLC
LIVE NATION LGTOURS (USA), LLC,
LIVE NATION MARKETING, INC.,
LIVE NATION MERCHANDISE, INC.,
LIVE NATION MID-ATLANTIC, INC.,
LIVE NATION MTOURS (USA), INC.,
LIVE NATION STUDIOS, LLC,
LIVE NATION TICKETING, LLC,
LIVE NATION TOURING (USA), INC.,
LIVE NATION USHTOURS (USA), LLC,
LIVE NATION UTOURS (USA), INC., 
LIVE NATION VENTURES, INC.,
LIVE NATION WORLDWIDE, INC.,
LN ACQUISITION HOLDCO LLC,
MICHIGAN LICENSES, LLC,
MUSICTODAY, LLC,

Appendix I

NEW YORK THEATER, LLC,
NOC, INC.,
SHORELINE AMPHITHEATRE, LTD.,
TNA TOUR II (USA) INC.,
WILTERN RENAISSANCE LLC

Appendix I

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