Document:

Employee Agreement

 Exhibit 10.12 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is made
and entered into this 14 day of February, 2007, by and between LightPath Technologies, Inc., a Delaware corporation (“LightPath”), and Kenneth Brizel (the “Executive”). 
 RECITALS 
 A. LightPath is a designer, developer, manufacturer, and distributor
of optical components. 
 B. The Executive is the President/Chief Executive Officer of LightPath. 
 C. Both parties have determined that it is mutually beneficial to have this Agreement setting forth in writing the terms and conditions under which the
Executive shall continue serving LightPath. 
 THEREFORE, in consideration of the mutual covenants and promises set forth below, and other
good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties expressly, knowingly, and voluntarily agree as follows: 
 1. Employment. LightPath currently employs the Executive as its President/Chief Executive Officer, and the Executive’s continued employment with LightPath shall be upon the terms and conditions set
forth below. 
 2. Duties and Obligations. 
 a. Duties. The Executive shall have the responsibilities and duties reasonably accorded to, and expected of, the President/Chief Executive Officer of LightPath and as determined by LightPath’s Board of
Directors (“the Board”) and the Executive will report directly to the Board and will have full responsibility for all activities of LightPath and be required to undertake the duties and responsibilities assigned to the Executive by the
Board. 
 b. Obligations. The Executive shall devote all of his attention, skills, and efforts to the business and affairs of
LightPath, and, to the extent necessary to discharge the responsibilities assigned to the Executive under this Agreement, use the Executive’s reasonable best efforts to carry out such responsibilities faithfully and efficiently. Accordingly,
the Executive shall not be engaged in any other business activity, whether or not such activity is pursued for gain, profit, or other pecuniary advantage. 

 3. Term of the Agreement. This Agreement shall continue indefinitely unless terminated in
writing by either party. 
 4. Compensation. For all services rendered by the Executive, LightPath shall compensate him as
follows: 
 a. Annual Base Salary. The Executive shall be paid an initial annual base salary of two hundred and eighty-six thousand
dollars ($286,000.00). On an annual basis, the Executive’s performance shall be evaluated by the Board which may change the Executive’s annual base salary, if, in their absolute discretion and judgment, any such change is warranted.

 b. Annual Cash Bonus. The Executive is eligible to receive an annual cash bonus (up to a maximum of fifty-percent of his
then-annual salary) if, in the Board’s absolute discretion and judgment, any such cash bonus is warranted. 
 c. Benefits. The
Executive is entitled to participate in all other compensation and benefit plans in which other employees of LightPath are generally eligible to participate, in accordance with the terms and conditions of such plans. LightPath may, from time to
time, in its absolute and sole discretion, change, modify, or discontinue the benefits which are offered to the Executive and/or other employees. 
 d. Expenses. LightPath will reimburse the Executive for all reasonable expenses incurred by him in carrying out his duties under this Agreement, provided that the Executive complies with the generally applicable policies, practices
and procedures of the LightPath regarding documentation of such expenses. In the event of any dispute, the Board shall have the sole discretion to determine the reasonableness of any such expenses. 
 5. Non-Disclosure and Non-Use of Confidential Information. The Executive acknowledges that as a result of his employment by LightPath, he
will have access to and be entrusted with trade secret, proprietary and other confidential information, not generally known in the industry in which LightPath is engaged – including, without limitation, non-public information about
LightPath’s products, services, concepts, techniques, processes, systems, devices, marketing techniques, finances, business plan(s), compensation 
  

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structure, pricing, market research, actual and prospective customers, lenders, and suppliers, and all other information of a trade secret, proprietary, or
confidential nature (known herein as “Confidential Information”). The Executive agrees that during his employment and at all times thereafter, he will hold in the strictest confidence, and shall not disclose (except as required by
applicable law, court order or in connection with the performance of Employee’s duties hereunder) or use for his own benefit or gain (or for the benefit or gain of any person or entity other than LightPath), any such Confidential Information.
The Executive further agrees that upon the termination of his employment, or at any other time requested by LightPath, he will deliver to LightPath all writings, computer data, photographs, or other written material or tangible thing containing
Confidential Information that is in the Executive’s possession, custody or control, whether made, written, or obtained by the Executive or others, as well as all equipment and property belonging to LightPath. The Executive agrees that he shall
retain no copies of such material, either for the Executive’s own use or otherwise. The Executive acknowledges and agrees that his disclosure or use of, any such Confidential Information, or failure to promptly return the materials, equipment
or property referenced above, would irreparably harm LightPath. The only exception to this confidentiality and non-disclosure provision is that, in a subsequent proceeding in which LightPath alleges a breach by the Executive of this paragraph 5, the
Executive shall not be prohibited from disclosing LightPath’s Confidential Information in such proceeding only as is necessary in order to defend against such allegations; provided that the Executive shall cooperate fully with LightPath to
ensure that its Confidential Information is filed and maintained under seal with the court. The Executive’s obligations under this paragraph 5 shall survive the termination (and/or assignment) of this Agreement and/or his employment with
LightPath. 
 6. Assignment of Proprietary Information. Except as may be required in the course of employment by LightPath, the
Executive agrees that any and all Proprietary Information, as hereinafter defined, which the Executive has made, conceived of, developed or originated, either individually or jointly with any other person or persons at any time during the period of
employment by LightPath, whether during working hours or any other time, which relate in any way to the business or the type of business now or 

  

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hereafter engaged in or contemplated by LightPath during the period of the Executive’s employment or which result from or may be suggested by any work
the Executive does for LightPath or at LightPath’s request, shall be the property of LightPath. As used herein, “Proprietary Information” shall mean any and all proprietary property including but not limited to all techniques,
processes, devices, charts, manuals, payroll, and improvements thereto together with the names and identities of all clients and prospective clients, price lists, suppliers and all other information or materials which LightPath may from time to time
designate and treat as confidential and proprietary or as a trade secret. 
 The Executive shall promptly disclose and assign such
Proprietary Information to LightPath’s representatives and do all such acts, and execute and deliver all such documents, as may be necessary to vest in LightPath the title to all such Proprietary Information and enable LightPath to properly
prepare and prosecute any and all applications for patents, trademarks or copyrights thereon as well as all reissues, renewals and extensions thereof, so that LightPath shall be the sole and absolute owner of all right, title and interest in said
proprietary property. It is understood and agreed that the words “which relate in any way to the business or the type of business now or hereafter carried on or contemplated by LightPath” shall properly cover any reasonable development or
extension of LightPath’s field of operation (as such field of operation existed during the period of Executive’s employment). These obligations shall continue beyond the termination or expiration of the Executive’s employment with
respect to inventions, discoveries and developments conceived or made by the Executive during the period of employment and shall be binding on the Executive’s assigns, executors, heirs, administrators and other legal representatives. The
Executive agrees that all correspondence, drawings, reports, ideas, blueprints, manuals, letters, notes, analyses, notebooks, reports, charts, programs, proposals or any other documents concerning LightPath’s customers or products or processes,
whether or not prepared by and in the course of employment, alone or in conjunction with others, is the property of LightPath and upon termination or expiration of employment for any reason, the Executive shall promptly return to LightPath any such
documents in his possession, custody or control. 
  

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 7. Non-Competition and Non-Solicitation Agreement. The Executive’s obligations under
this paragraph 7 shall survive the termination (and/or assignment) of this Agreement and/or his employment with LightPath: 
 a. The Executive
agrees that during his employment with LightPath and for twelve months following his separation from said employment (for any reason), he will not directly or indirectly, as either an owner, operator, agent, employee, independent contractor,
investor, advisor, partner, officer, director, shareholder or in any other capacity, engage in a business which competes in any way with the business of LightPath (provided, however, that nothing herein shall prevent the Executive from investing as
less than a 5% shareholder in the securities of any publicly traded company). 
 b. The Executive agrees that during his employment with
LightPath and for twelve months following his separation from said employment (for any reason), he will not directly or indirectly induce any employee of LightPath to terminate or negatively alter his or her relationship with LightPath; provided,
however that engaging in general solicitation (not targeted at LightPath employees) through newspaper advertising, the Internet or job fairs shall not be deemed a violation of this provision. 
 c. The Executive agrees that during his employment with LightPath and for twelve months following his separation from said employment (for any reason),
he will not call upon – either directly or through any other persons, partnerships, corporations, companies or other entities – any current or former client or customer of LightPath for the purpose of soliciting or selling products or
services in direct competition with LightPath; provided that the foregoing sentence, in and of itself, shall not prohibit Executive from being employed by any employer that was already, at the time of Executive’s employment by such employer,
(i) engaged in a material, ongoing business relationship with any such current or former client or customer of LightPath, and (ii) soliciting or selling products or services that competed with those of LightPath to such current or former
client or customer of LightPath. 
 d. LightPath agrees that it shall not be a violation of this subsection d. for Executive to have a
business relationship with any former or current supplier, vendor, consultant, or independent contractor of LightPath; provided that Executive agrees that during his employment with LightPath and at any time following his separation from said
employment (for any reason), he will not directly or 
  

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indirectly induce any former or current supplier, vendor, consultant, or independent contractor of LightPath (who did business with LightPath during the term
of Executive’s employment) to terminate or negatively alter his, her, or its relationship with LightPath. 
 e. Because of the
difficulty of measuring economic losses to LightPath as a result of a breach of the foregoing covenants, and because of the immediate and irreparable damage that could be caused to LightPath for which it would have no other adequate remedy, the
Executive agrees that, in the event of breach by him, LightPath shall be entitled to seek (i) specific performance, including immediate issuance of a temporary restraining order and/or preliminary or permanent injunctive relief enforcing this
Agreement, without the necessity of proof of actual damages and without posting bond for such relief, (ii) a judgment for damages caused by his breach, and (iii) any other remedies provided by applicable law or available in equity. In the
event any of the terms or conditions of this Agreement are found unreasonable by a court of competent jurisdiction, the Executive agrees to accept as binding in lieu thereof, any such lesser restrictions which said court may deem reasonable.

 f. It is agreed by the parties that the foregoing covenants in this Paragraph 7 impose a reasonable restraint on the Executive in light of
the activities and business of LightPath on the date of the execution of this Agreement and the current plans of LightPath; but it is also the intent of LightPath and the Executive that such covenants be construed and enforced in accordance with the
changing activities, business and locations of LightPath throughout the term of this Agreement. 
 g. LightPath has international operations
and conducts business throughout the world. In his employment with LightPath, the Executive has performed, and will perform, services for LightPath throughout the United States and in various foreign jurisdictions. The provisions of this paragraph 7
are intended to apply to the fullest extent possible in all of the United States and in every foreign jurisdiction in which LightPath conducts business. 
 h. The covenants in this paragraph 7 are severable and separate, and the unenforceability of any specific covenant shall not affect the provisions of any other covenant. Moreover, in 

  

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the event any court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth are unreasonable, then it is the
intention of the parties that such restrictions be enforced to the fullest extent which the court deems reasonable, and the Agreement shall thereby be reformed. 
 i. All of the covenants in this paragraph 7 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of the Executive against
LightPath, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by LightPath of such covenants. It is specifically agreed that the above-mentioned time periods for the restrictions placed upon the
Executive shall be effective and any time during which the Executive is in violation of any provision of this paragraph 7 shall be excluded from the computation of said time periods. 
 8. Termination of Employment. The Executive’s employment may be terminated by either party, with or without Cause (as defined in
paragraph 9 herein below) and with or without notice. Upon the termination of his employment, the Executive shall not be entitled to any further compensation other than what he may receive pursuant to paragraph 9. 
 9. Severance and Other Than for “Cause” Termination. If the Executive’s employment is terminated by LightPath for any reason
other than for “Cause,” the Executive shall be entitled to receive a severance payment in the amount of one times (1x) his then-base annual salary (the “Severance Payment”), provided, however, in the event the Executive is
entitled to the Cash Payment as defined in that certain Change in Control Agreement by and between LightPath and the Executive of approximately even date herewith, the Executive shall not be entitled to receive the Severance Payment provided for in
this paragraph 9, it being intended by LightPath that the Cash Payment shall be made in lieu of the Severance Payment contemplated hereby. If paid, (a) the Severance Payment shall be paid to the Executive in equal installments over a
twelve-month period in accordance with LightPath’s regular payroll schedule; and (b) LightPath will also pay the Executive’s COBRA premiums sufficient to continue his group health insurance coverage at the same level in effect as of
his termination date for twelve months or until he becomes eligible for group health insurance coverage through a subsequent employer, whichever occurs first. The existence of “Cause” in the termination of the Executive’s employment
shall be determined by the Board in its absolute and sole discretion. For purposes of this Agreement, “Cause” shall be defined as any of the following: 
 a. any intentional act by the Executive of dishonesty, moral turpitude or misappropriation of property, which act has, in the sole discretion of the Board, a materially adverse impact on the business or affairs or
reputation of LightPath; 
  

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 b. any intentional act by the Executive of fraud or embezzlement; 
 c. the Executive pleads guilty or nolo contendere to, or is convicted of, any felony; 
 d. the failure to carry out directives of the Board, or neglect or failure to perform his duty to provide the Board with accurate information, provided
the Executive has not, in the sole discretion of the Board, cured such failure or neglect within thirty (30) days of his receipt of written notice of LightPath’s intention to terminate the Executive’s employment for Cause, together
with a description of the basis thereof; 
 e. any intentional unauthorized use or disclosure by the Executive of proprietary or other
confidential information or trade secrets of LightPath; 
 f. any intentional act that constitutes a breach of fiduciary duty or duty of
loyalty to LightPath or any intentional act that, in the sole discretion of the Board, results or intends to result, either directly or indirectly, in the personal gain or enrichment of the Executive at the expense of LightPath; 
 g. any material breach by the Executive of any agreement between LightPath and the Executive related to the Executive’s employment, provided the
Executive has not, in the sole discretion of the Board, cured such breach within thirty (30) days of his receipt of written notice of LightPath’s intention to terminate the Executive’s employment for Cause, together with a description
of the basis thereof; and 
 h. any other intentional act or misconduct by the Executive which has a materially adverse impact on the
business or affairs of LightPath, provided the Executive has not, in the sole discretion of the Board, cured such impact within thirty (30) days of the Executive’s receipt of written notice of LightPath’s intention to terminate the
Executive’s employment for Cause, together with a description of the basis thereof. 
 The foregoing definition of Cause shall not be
deemed to be inclusive of all the acts or omissions which LightPath may have as 

  

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which LightPath may have as grounds for the Executive’s dismissal or discharge. For purposes of this Agreement, a good faith determination and the
approval or affirmative vote of a majority of the members of the Board of a for-Cause basis for terminating the Executive’s employment shall be conclusive. As used in this paragraph 9, references to LightPath include LightPath and its
affiliates, successors, and assigns. 
 10. Tax Matters. If the Executive is deemed to be a “key employee” within the
meaning of Section 409A (“Section 409A”) of the Code, or if Section 409A is otherwise deemed to be applicable to payments made to the Executive hereunder, then payments made to the Executive pursuant to paragraph 9 shall not
commence until six (6) months following the Executive’s separation from service to the extent necessary to avoid the imposition of the additional penalty tax under Section 409A (the “Deferral Period”). The first such payment
to the Executive after the expiration of the Deferral Period shall include all installment payments that otherwise would have been made during the Deferral Period. It is intended by the parties hereto that the penalties proscribed under
Section 409A not be applicable to payments made to the Executive hereunder. 
 11. Notices. All notices, consents and
other communications under this Agreement shall be in writing and shall be deemed to have been duly given when (a) delivered by hand, (b) sent by telex or telecopier (with receipt confirmed), provided that a copy is sent by registered
mail, return receipt requested, or (c) when received by the addressee, if sent by Express Mail, Federal Express or other express delivery service (receipt requested), in each case to the appropriate address and telecopier number set forth below
(or to such other address and/or telecopier number as a party may designate by notice to the other party): 
  

			
		 	For the Executive:
		
		 	Kenneth Brizel
	               	 	  

		 	  

		 	  

		 	(Personal & Confidential)
		
		 	For LightPath:
		
		 	Gary Silverman
		 	 Chairman of the Compensation Committee of the Board of Directors
 LightPath Technologies, Inc.

  

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 832 Bob-o-Link Road 
 Highlands Park, Illinois 60035 
 (Personal & Confidential) 
 With a copy to: 
 Baker & Hostetler
LLP 
 Attention: Jeffrey E. Decker, Esq. 
 200 South Orange Avenue, Suite 2300 
 Orlando, Florida 32801 
 12. Governing Law and Venue. This Agreement shall be governed by the laws of the State of Florida, and venue for any litigation brought to
enforce this Agreement shall lie exclusively in the United States District Court, Middle District of Florida, Orlando Division, or in the Circuit or County Court of the Ninth Judicial Circuit in and for Orange County, Florida. At least ten
(10) days prior to commencing an action based on the alleged breach of this Agreement, the complaining party must given notice to the other party of that party’s intent to file an action. 
 13. Costs of Enforcement. In the event either LightPath or the Executive initiates an action to enforce its rights hereunder, the
substantially prevailing party shall recover from the substantially non-prevailing party its reasonable expenses, court costs and reasonable attorneys’ and paralegals’ fees, whether suit be brought or not. As used herein, expenses, court
costs and attorneys’ and paralegals’ fees include expenses, court costs and attorneys’ and paralegals’ fees incurred in any appellate or bankruptcy proceeding. Expenses incurred in enforcing this paragraph shall be covered by
this paragraph. For this purpose, the court shall be and is requested to award actual costs and attorneys’ and paralegals’ fees incurred by the substantially prevailing party, it being the intention of the parties that the substantially
prevailing party be completely reimbursed for all such costs and fees. The parties request that inquiry by the court as to the fees and costs be limited to a review of whether the fees charged and hourly rates for such fees are consistent with the
fees and hourly rates routinely charged by the attorneys and paralegals for the prevailing party. 
 14. Waiver of Right to Jury
Trial. LightPath and the Executive hereby knowingly, irrevocably, voluntarily, and intentionally waive any rights to a trial by jury in respect of any action, proceeding or counterclaim based on this Agreement or arising out of, under, or in
connection with the Executive’s employment, including, without limitation, any discrimination, harassment, retaliation, or civil rights claims under any local, state, or federal law, or a claim involving any document or instrument executed in
connection with 

  

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this Agreement, or any course of conduct, course of dealing, statement (whether verbal or written) or action of any party with respect to the relationship
between LightPath and the Executive. This provision is a material inducement for LightPath entering into this Agreement. 
 15.
Severability. If any clause or provision in this Agreement is found to be void, invalid, or unenforceable, it shall be severed from the remaining provisions and clauses which shall remain in full force and effect. 
 16. Successors and Assignments. This Agreement will be binding upon the Executive’s heirs, executors, administrators and other legal
representatives and will be for the benefit of LightPath, its successors, and its assigns. LightPath can assign its rights and obligations under this Agreement to its successors and assigns, which will have the right to enforce all terms of this
Agreement. The Executive cannot assign his duties under this Agreement. 
 17. Waiver. No waiver by LightPath of any breach of
this Agreement shall be a waiver as to any other breach. No waiver by LightPath of any right under this Agreement shall be a waiver of any other right. LightPath shall not be required to give notice to enforce strict adherence to all terms of this
Agreement. 
 18. Recitals. The Recitals are incorporated by reference. 
 19. Interpretation and Construction. The parties affirm that this Agreement is the product of negotiation and it shall not be construed
against either party on the basis of sole authorship. 
 20. Entire Agreement. This Agreement and the Employee Confidential
Information and Inventions Agreement dated July 19, 2002, between Employee and GelTech, Inc. (a predecessor of LightPath) constitutes the final, complete and exclusive agreement of the parties regarding the Executive’s employment with
LightPath and supersedes and merges all prior discussions or agreements, including, but not limited to, LightPath’s June 3, 2002, Offer Letter to the Executive. No modification of or amendment to this Agreement, nor any waiver of any
rights under this Agreement, will be effective unless in writing and signed by the party to be charged. Any subsequent change or changes in the Executive’s duties, salary or compensation will not affect the validity or scope of this Agreement.

  

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 This Executive Employment Agreement is made effective as of the date set forth hereinabove. 

 

							
		 		 	LightPath Technologies, Inc.,
		 		 	a Delaware corporation
				
	  
	 		 	By:	 	 /s/ Robert Ripp

	 Witness
	 		 	Name:	 	Robert Ripp
		 		 	Title:	 	Chairman of the Board
	  
	 		 		 	
	 Witness
	 		 		 	
			
	 /s/ Dorothy M. Cipolla
	 		 	             /s/ Kenneth Brizel

	Witness	 		 	Kenneth Brizel
				
	 /s/ Elizabeth Norfolk
	 		 		 	
	 Witness
	 		 		 	

  

 12Form of Production/Distribution Agreement

 Exhibit 10.22 
 PRODUCTION/DISTRIBUTION AGREEMENT 
 This Production/Distribution Agreement (this “Agreement”) is
entered into as of                     , 2006 (the “Effective Date”), between American Broadcasting Companies, Inc., a Delaware
corporation (“ABC”) and                             , a
                 corporation (“Distributor”). 
 ABC operates a news service under the name “ABC News.” ABC desires to produce a radio version of its ABC News service and Distributor desires to distribute it to its radio station affiliates, all as set forth in and pursuant to
this Agreement. 
 The parties agree as follows: 
  

	1.	Definitions 

  

	 	1.1.	“ABC” has the meaning set forth in the preamble. 

  

	 	1.2.	“ABC Indemnitees” has the meaning set forth in Section 10.2. 

  

	 	1.3.	“Affiliate” shall mean with respect to any entity, any other person or entity, controlling, controlled by, or under common control with such entity, where control shall
mean the possession of the power or right to cause or direct the management or policies of such entity. 

  

	 	1.4.	The phrase “all media” as used in this agreement means all media now known or hereafter devised. 

  

	 	1.5.	“Change in Control” has the meaning set forth in Section 7.2 

  

	 	1.6.	“CPI” shall mean the Consumer Price Index for All Urban Consumers, U.S. City Average (1982-1984=100) Unadjusted, all items indexed, published by the Bureau of Labor
Statistics United States Department of Labor. 

  

	 	1.7.	“Distributor” has the meaning set forth in the preamble. 

  

	 	1.8.	“Distributor Indemnitees” has the meaning set forth in Section 10.1 

  

	 	1.9.	“Effective Date” has the meaning set forth in the Preamble. 

  

	 	1.10.	“Indemnitees” has the meaning set forth in Section 10.3 

  

	 	1.11.	“Losses” has the meaning set forth in Section 10.1. 

  

	 	1.12.	“Marks” has the meaning set forth in Section 5.2. 

	 	1.13.	“Program” means any program, series or other content furnished by ABC to Distributor as part of the Radio Service. References herein to “Radio Service” shall be
deemed to include all Programs included therein. 

  

	 	1.14.	“Radio Service” means the English-language, audio news service produced by or on behalf of ABC pursuant to this Agreement for use by Distributor and its sublicensees
hereunder. 

  

	 	1.15.	“Term” has the meaning set forth in Section 7.1. 

  

	 	1.16.	“Termination Right” has the meaning set forth in Section 7.2 

  

	 	1.17.	“Territory” means the United States, its territories and possessions. 

  

	2.	Production Budget 

  

	 	2.1.	The initial budget is attached hereto as Exhibit 2.1. The budget includes all production costs of the Radio Service, including, without limitation, (i) all host, performing and
producing fees; (ii) all costs of music electrical transcription licenses for any music included in the Radio Service; (iii) all actual out-of-pocket third-party expenses; and (iv) an allocation of any personnel, equipment or
facilities of ABC that is devoted to the production of the Radio Service (pro-rated if shared with other operations of ABC). At least 90 days prior to the end of each year during the Term, the parties will consult on the next annual budget. If the
parties cannot agree on the next annual budget, then the total costs and expenditures under the next annual budget will be that of the previous annual budget, increased by the CPI, and the Programs will be substantially similar to those under the
previous annual budget, subject to any changes in personnel or format for Programs required by ABC in its reasonable discretion to keep the cost of the Programs within the budgeted amount. 

  

	 	2.2.	In the event the actual production cost of the Radio Service exceeds the budgeted amount, ABC will give Distributor the opportunity to pay the amount of such overage. If Distributor
declines, ABC may reduce the Programs and other services provided pursuant to the budget; provided that ABC will make the decision as to which Programs or services to cut in consultation with Distributor. In no event will ABC be required to spend
any amount on the production of the Radio Service in excess of the amount reimbursed by Distributor. 

  

	 	2.3.	Unless otherwise agreed, Distributor will pay the annual budgeted amount to ABC on a monthly basis in advance. In addition to any other rights and remedies, ABC may suspend
production of the Radio Service during any period in which Distributor is in default on its payment obligation. ABC will provide Distributor with quarterly statements comparing production expenses to the annual budget and the payments received from
Distributor. 

  

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	 	2.4.	In the event that either party wishes to create new English-language, audio-only services for terrestrial radio under the “ABC News” brand name, then the parties will
negotiate in good faith the costs in terms of use of such additional service. 

  

	 	2.5.	ABC shall use its reasonable efforts to encourage its news talent to work with Distributor on new programming ideas. ABC shall use its reasonable efforts to prevent its staff
anchors/newspersons from providing services to a commercial competitor of ABC for an audio news program to be broadcast on terrestrial radio beyond the extent that such persons currently provide services to such entities from time to time. For the
avoidance of doubt and notwithstanding anything to the contrary, Distributor acknowledges that this provision will not prohibit individual ABC News Staff members (i) from having deals with non-commercial radio services, or (ii) from
promoting a television program on non-ABC Radio affiliates or (iii) from promoting third party ventures (e.g., a reporter doing a book tour). 

  

	 	2.6.	Subject to Section 2.2 hereof, unless otherwise agreed in writing by the parties in connection with the budget, ABC will deliver the Radio Service to Distributor in
substantially the same manner and with at least the same level of content and quality as the Radio Service is currently delivered. 

  

	3.	License Fee 

  

	 	3.1.	In addition to the payment of the budgeted amount, Distributor will pay ABC a license fee. The license fee shall be Seven Million Dollars ($7,000,000) for the first year of this
Agreement, commencing on the Effective Date. For each year thereafter during the Term, the license fee will be equal to the license fee from the previous year increased by the CPI. The license fee will be paid monthly together with the monthly
payment of the budgeted production expenses. 

  

	4.	Distribution Rights and Obligations 

  

	 	4.1.	ABC hereby grants Distributor the exclusive license to promote, market and distribute the Radio Service during the Term to FCC-licensed, terrestrial radio broadcast stations in the
Territory for broadcast over over-the-air radio, which broadcast is intended for reception by the general public in places to which no admission is charged and Distributor shall use reasonable commercial efforts to promote, market and distribute the
Radio Service consistent with past levels. Distributor shall also have the right and license to redistribute whole programs (combining Radio Service elements and other elements), which Distributor has simultaneously or previously distributed through
terrestrial radio pursuant to the previous sentence, through. any form or medium or distribution channel now known or hereafter devised, provided that such redistribution consists of entire programs substantially as a whole and that the portions of
the programs constituting the Radio Service are not redistributed out of the context of such 

  

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programs. Such right and license shall include the right for Distributor to grant sublicenses under the rights granted hereunder.

  

	 	4.2.	All licenses, rights and interest in, to and with respect to the Radio Service not specifically granted to Distributor herein are retained by and reserved to ABC, including, but not
limited to, and without limiting any rights or licenses of Distributor explicitly set forth in Sections 4.1 and 4.3 and otherwise in this Agreement, (i) the right to distribute the Radio Service audio by any means of exhibition, display,
transmission, distribution, duplication, playback except as explicitly set forth in Sections 4.1 and 4.3; (ii) the right to perform the Radio Service by means of all forms of radio, television, computer and other media devices, methods and
improvements now known or hereafter devised (except as explicitly set forth in Sections 4.1 and 4.3), including, but not limited to, (a) cable transmission, (b) satellite-to-home transmission, (c) DBS (including DARS), (d) closed
circuit distribution, (e) networked telecommunications systems, including the internet, (f) audio cassettes, compact discs and computer storage and playback devices, and (g) transmissions to mobile devices; and (iii) the right to
transmit the Radio Service by means of audio-on-demand, on-line and all other forms of interactive and digital media (subject to Section 4.3). For the avoidance of doubt, the reserved rights include but are not limited to the right to license,
distribute and otherwise exploit the Radio Service by means of all media outside the Territory, as well as all rights in all media to foreign-language versions of the Radio Service (subject to Section 8.2). Nothing contained herein shall in any
way limiting any of the rights or licenses granted to Distributor in Sections 4.1 and 4.3 or otherwise in this Agreement. 

  

	 	4.3.	Without limiting the rights granted in Section 4.1, Distributor will have the right to authorize any terrestrial radio station that broadcasts the Radio Service to simulcast
the portion of its signal containing the Radio Service via internet streaming, provided that such streaming is simultaneous with the terrestrial radio broadcast and contains substantially all of the terrestrial radio signal. The simulcast rights set
forth in this Section 4.3 and the redistribution rights granted in Section 4.1 are subject to ABC’s ability to clear any third party content contained therein, such as that of the Associated Press, and further subject
to Distributor’s payment of any additional third party fees required to be paid due to such streaming. ABC makes no representations or warranties regarding the rights required for distribution of the Radio Service other than
by terrestrial radio and Distributor will have the obligation of determining, in consultation with ABC, whether any additional rights clearances are required for such alternative forms of distribution. Distributor further represents and warrants
that as between ABC and Distributor, Distributor and/or any terrestrial radio station that broadcasts the Radio Service shall be responsible for any public performance license or other fees required to be paid as a result of any musical
compositions contained in the Radio Service that is transmitted over the internet or as other permitted hereunder. 

  

 4 

	 	4.4.	Distributor may sell advertising time in and around the Radio Service; provided, however, that sales of any time embedded in the Radio Service must comply with ABC’s Broadcast
Standards and Practices by ABC. Distributor shall be entitled to collect and retain all proceeds from advertising sold by it. Distributor will be responsible for the insertion of advertising into the Radio Service and ABC will be responsible only
for the insertion of event cue tones to trigger such insertion; provided, however, that ABC will not be liable for inadvertent failure to insert such event cue tones. ABC shall not sell advertising time in and around the Radio Service for its own
account or insert promotional announcements without the consent of Distributor; provided, however, that items on the Radio Service may contain credits to television programs on which material related to the items appear. 

  

	 	4.5.	Except as expressly provided herein with respect to the insertion of advertising, Distributor shall not, and shall not permit its sublicensees to, edit, alter, modify or juxtapose
the Radio Service, except in connection with the exercise of its rights hereunder in connection with the distribution, promotion and marketing of the Radio Service as permitted hereunder and to create highlights of the Radio Service. Without
limiting the foregoing, Distributor shall have the right to authorize its sublicensees, consistent with their obligations pursuant to the applicable provisions of the Communications Act of 1934, to create highlights and to delete any material that
it reasonably believes unsuitable for broadcast and to preempt for a program of immediate and outstanding local or national importance. Notwithstanding anything to the contrary, Distributor shall cease distribution of any highlight created in a
manner that is not consistent with ordinary past practices and to which ABC reasonably objects. 

  

	 	4.6.	Distributor shall require all of its sublicensees to be responsible for all necessary radio station licenses, including music performance rights licenses, as now are or hereafter
may be in general use by radio broadcasting stations and necessary for Station to broadcast the Radio Service and for the payment of any public performance music licenses or royalty payments which may be required to be paid to any party or
organization, such as BMI, ASCAP, SESAC, or any other like organization on account of the broadcast of the music contained in the Radio Service. 

  

	 	4.7.	Attached hereto as Exhibit 4.7 is the standard affiliation agreement to be used by Distributor in connection with Distributor’s sublicense of the Radio Service to radio
broadcasters. Distributor will give ABC at least five (5) business days prior notice of any material changes to this Agreement and will not make any material change to which ABC reasonably objects within three (3) business days of receipt
of such notice. Distributor may, for the avoidance of doubt, make changes that are consistent with the rights and licenses granted hereunder or as may be necessary to clarify any conflict between the terms of this Agreement and those of the attached
affiliation agreement. 

  

 5 

	5.	Intellectual Property 

  

	 	5.1.	As between ABC and Distributor, ABC shall own all rights, exclusively, in all media, throughout the universe, in perpetuity, including without limitation the copyrights, trademarks,
trade dress, format rights, distribution rights, and all other allied and ancillary rights in and to the Radio Service, and all elements thereof. Furthermore, ABC shall have full business, production and creative control over the development and
production decisions of the Radio Service. Distributor shall neither acquire nor assert copyright ownership or any other proprietary rights in the Radio Service or any Programs, including the format thereof and/or any logo contained therein, or in
any derivation, adaptation, variation or name thereof. Without limiting the foregoing, Distributor hereby assigns to ABC all of Distributor’s worldwide right, title and interest in and to the Radio Service and the Programs, including the format
thereof and/or logos contained therein. 

  

	 	5.2.	Distributor acknowledges and agrees that certain proprietary intellectual property (collectively, “Marks”), including, but not limited to, the trade names, logos, service
marks, trademarks and characters used solely in connection with the Radio Service and the titles of the Programs, are the exclusive property of ABC, its Affiliates, or ABC’s program suppliers. Distributor shall not sell or use, or authorize or
intentionally assist any third party to sell or use the Marks or any Programs, in whole or in part, to sponsor, advertise, endorse or promote any product or service other than the Radio Service. All right, title and interest in and to the Marks and
the Programs shall, as between the parties, at all times be the sole property of ABC, and Distributor shall not make any claim to the contrary. 

  

	6.	Marketing and Promotional Material 

  

	 	6.1.	 Distributor shall have the right to prepare marketing and promotional material for the Radio Service subject to the terms hereof. Prior to the distribution of any
marketing or promotional materials, ABC shall have the right to pre-approve in writing all advertising and promotional material created by Distributor for the Programs which approval shall not be unreasonably withheld or delayed; it being understood
and agreed that (i) once an item has been approved it shall be deemed approved for any subsequent uses permitted hereunder (unless otherwise noted at the time of initial approval and subject to (iii)); (ii) any materials supplied by ABC
shall be deemed pre-approved by ABC and shall not require any approval, except as to changes in the manner of their use or unless ABC notifies Distributor to the contrary based on changed circumstances; and (iii) if any materials used pursuant
to this Section involve or incorporate ABC logos or trademarks, Distributor shall, at all times, use the then-current version of such logo or trademark. For each Program, ABC shall, in a reasonable amount of time prior to the commencement of the
License Period for such Program deliver to Distributor any advertising, marketing, promotional and other materials that ABC, in its discretion, decides to provide 

  

 6 

 
in connection with the Program. Distributor shall be under no obligation to use the advertising, marketing, promotional or other materials provided by ABC.
Distributor shall not distribute any material which violates any restrictions imposed by ABC or ABC’s program suppliers and disclosed to Distributor by ABC. All approved printed materials used by Distributor in connection with the Radio Service
and the Programs, including but not limited to, advertising and promotional materials, shall bear a properly located copyright notice in the name of ABC (i.e., “©ABC”) or such other notice as ABC specifies to Distributor in writing.
Distributor may provide such materials to its sublicensees and will use all reasonable efforts to enforce compliance with these provisions by its sublicensees. All uses of the Marks by Distributor and its sublicensees will inure to the benefit of
ABC. Notwithstanding anything to the contrary, in no event may Distributor create or use promotional or marketing material that implies the endorsement by any ABC talent or any ABC entity of any specific product or service, other than Radio Service.

  

	7.	Term 

  

	 	7.1.	The “Term” means the period beginning on the date hereof and ending on the later of the tenth anniversary of the Effective Date and any extension of the Term in accordance
with Section 8. In addition, any obligations of the parties which remain executory after the Term shall remain in force until expiration or discharge. 

  

	 	7.2.	Distributor shall immediately notify ABC in writing after any Change in Control, and shall use reasonable efforts to notify ABC in writing at least fifteen (15) days prior to
the effectiveness of a Change in Control. Upon the occurrence of a Change in Control to any entity competing with any business of ABC or Disney and whether or not ABC receives notice thereof, ABC shall have the right to terminate this Agreement
immediately (“Termination Right”). The Termination Right shall expire ninety (90) days following the later of (i) effectiveness of a Change in Control or (ii) the date ABC obtains notice of the Change in Control.
“Change in Control” shall mean the acquisition, through one or a series of transactions, by a non-Affiliate of Distributor of the power or right, whether direct or indirect, to cause or direct the management or policies of Distributor.

  

	 	7.3.	Either party may terminate this Agreement, effective at any time, by giving the other party written notice, if the other party (i) has materially breached this Agreement and
such breach is not cured within sixty (60) days of such notice or (ii) becomes insolvent or bankrupt or takes any action to seek bankruptcy protection. 

  

	8.	Rights of First Negotiation 

  

	 	8.1.	 The parties hereto will commence good faith, mutually exclusive negotiations to renew this Agreement no later than half-way through year eight of the Term. 

  

 7 

 
If no agreement has been reached during a six months of such negotiations (i.e., by the start of year nine), then the parties will be free to
negotiate with others. 
  

	 	8.2.	In the event that ABC at any time during the Term plans to produce, itself or through any other person or entity, or to otherwise, directly or indirectly, promote, market or
distribute, any audio news service primarily for terrestrial radio for (i) Canada and/or Mexico for any language, and/or (ii) the United States for any language other than English, then ABC will promptly notify Distributor of any such
plans, and ABC will negotiate in good faith with Distributor exclusively for forty five days prior to discussing or negotiating with any third party for any such distribution services or other rights (“Terms”). Prior to agreeing to Terms
with any third party, ABC will provide written notice to Distributor outlining such Terms, whereupon Distributor shall have the right to enter into an agreement with ABC on such Terms. If Distributor does not accept the Terms outlined in any such
notice within thirty (30) days of receiving such notice from ABC, ABC will be free to enter into an agreement with respect to such Terms with any other person or entity, but only on terms that are the same as or less favorable than those Terms
offered to Distributor. 

  

	9.	Representations and Warranties 

  

	 	9.1.	ABC warrants, represents and covenants that during the term of this Agreement: 

  

	 	9.1.1.	ABC has the complete and unencumbered right, power, and authority to make and enter into this Agreement and to fully perform all of the obligations to be performed by ABC hereunder,
including without limitation, to grant all rights granted in Agreement; 

  

	 	9.1.2.	Each Program, and each element thereof, will be of a high quality consistent with past standards for ABC News Radio productions; 

  

	 	9.1.3.	ABC has secured and/or will secure prior to delivery of the Programs all rights and licenses necessary for ABC’s production and delivery to Distributor of such Program. The
rights referred to in the preceding sentence shall include, without limitation, all necessary literary, artistic and/or intellectual property rights, music electrical transcription rights and privacy rights; 

  

	 	9.1.4.	ABC has paid, and/or will pay, all taxes, charges and fees relating to the production, delivery and use of any Program, except for taxes, charges and fees applicable to uses by
Distributor hereunder which will be paid directly by Distributor. On delivery of each Program, such Program will be free and clear of any encumbrance, including any lien or tax which is not subordinate and subject to all rights granted to
Distributor herein; 

  

 8 

	 	9.1.5.	No Program, nor the existence, production or any use permitted hereunder thereof or of any element thereof, will infringe on any copyright of, trademark or trade name of, violate
any right of privacy of, constitute a libel or slander against or violate or infringe any literary, artistic, intellectual, dramatic or other right of any person or entity whatsoever (except for music performance rights); 

 

	 	9.1.6.	No use by Distributor permitted hereunder of any Program will violate any federal, state, local or other law, rule or regulation and all of the same shall be capable of being duly
licensed and broadcast under all applicable laws; 

  

	 	9.1.7.	ABC has not granted or attempted to grant, and shall not grant, to any person or entity whatsoever any right that would or might derogate from or interfere with any right granted to
Distributor herein or the performance of Distributor’s obligations hereunder; 

  

	 	9.1.8.	There is not now outstanding any litigation, or, to the knowledge of ABC’s senior management, threatened litigation or claims, which could impair ABC’s ability to fully
perform all of its obligations hereunder or which could impair the rights granted to Distributor hereunder. 

  

	 	9.1.9.	Except for the rights granted to Distributor under this Agreement, ABC has not granted or attempted to grant, and, except as permitted in Section 8.2, shall not grant, to any
person or entity whatsoever any right or option to promote, market or distribute any audio news service primarily for terrestrial radio for Canada, Mexico, or the United States. 

  

	 	9.2.	The warranties, representations and indemnification obligations hereunder shall survive the performance, expiration or earlier termination of the Term. 

  

	10.	Indemnification. 

  

	 	10.1.	ABC agrees to hold Distributor, its parent company(ies), divisions, subsidiaries and Affiliates and any present or former officers, directors, shareholders employees, licensees and
agents of any of the foregoing, and their respective heirs, executors, administrators, successors and assigns (collectively the “Distributor Indemnitees”), harmless, from any claims, actions, demands, deficiencies, assessments,
liabilities, losses, damages, expenses (including, without limitation, reasonable fees and expenses of counsel) (collectively, “Losses”) which any Distributor Indemnitee may suffer by reason of ABC’s breach of, or non-compliance with,
any covenant or provision herein contained or the inaccuracy of any warranty or representation made in this Agreement or agreements made or to be performed by ABC pursuant hereto, or arising out of any Program or commercial material included in the
Radio Service or by reason of ABC’s willful misconduct. 

  

 9 

	 	10.2.	Distributor agrees to indemnify ABC, its parent company(ies), divisions, subsidiaries and Affiliates and any present or former officers, directors, shareholders employees, licensees
and agents of any of the foregoing, and their respective heirs, executors, administrators, successors and assigns (the “ABC Indemnitees”) against and hold the ABC Indemnitees harmless from any and all Losses incurred or suffered by any ABC
Indemnitee arising out of a breach by Distributor of the representations, warranties, covenants or agreements made or to be performed by it pursuant hereto, or arising out of any program or commercial material (apart from the Radio Service)
furnished by Distributor. Without limitation of the foregoing, Distributor will indemnify the ABC Indemnitees against and hold the ABC Indemnitees harmless from any and all Losses arising out of: 

  

	 	10.2.1.	The use of commercials, public service announcements and other matters unrelated to the Radio Service hereunder, but broadcast with any Programs hereunder by Distributor or any
sublicensee of Distributor or any Distributor Indemnitee; 

  

	 	10.2.2.	Any claim relating solely to material furnished by Distributor to ABC in violation of any third party’s rights; 

  

	 	10.2.3.	Any claim relating solely to willful misconduct of Distributor (including without limitation the willful misuse by Distributor of ideas or material furnished by Distributor to ABC);
and 

  

	 	10.2.4.	Any claim relating to the distribution activities of Distributor. 

  

	 	10.3.	 The following procedures shall govern all claims for indemnification made under any provision of this Agreement. A written notice (an “Indemnification
Notice”) with respect to any claim for indemnification shall be given by the party seeking indemnification (the “Indemnitee”) to the party from which indemnification is sought (the “Indemnitor”) within thirty (30) days
of the discovery by the Indemnitee of such claim, which Indemnification Notice shall set forth the facts relating to such claim then known to the Indemnitee (provided that failure to give such Indemnification Notice as aforesaid shall not release
the Indemnitor from its indemnification obligations hereunder unless and to the extent the Indemnitor has been prejudiced thereby). The party receiving an Indemnification Notice shall send a written response to the party seeking indemnification
stating whether it agrees with or rejects such claim in whole or in part. Failure to give such response within ninety (90) days after receipt of the Indemnification Notice shall be conclusively deemed to constitute acknowledgment of the
validity of such claim. If any such claim shall arise by reason of any claim made by third parties, the Indemnitor shall have the right, upon written notice to Indemnitee within thirty (30) days after receipt of the Indemnification Notice, to
assume the defense of the matter giving rise to the claim for indemnification through counsel of its selection reasonably acceptable to Indemnitee, at Indemnitor’s expense, and the Indemnitee shall have the right, at its own expense, to employ
counsel to 

  

 10 

 
represent it; provided, however, that if any action shall include both the Indemnitor and the Indemnitee and there is a conflict of interest
because of the availability of different or additional defenses to the Indemnitee, the Indemnitee shall have the right to select separate counsel to participate in the defense of such action on its behalf, at the Indemnitor’s expense. The
Indemnitee shall cooperate fully to make available to the Indemnitor all pertinent information under the Indemnitee’s control as to the claim and shall make appropriate personnel available for any discovery, trial or appeal. If the Indemnitor
does not elect to undertake the defense as set forth above, the Indemnitee shall have the right to assume the defense of such matter on behalf of and for the account of the Indemnitor; provided, however, the Indemnitee shall not settle
or compromise any claim without the consent of the Indemnitor, which consent shall not be unreasonably withheld. The Indemnitor may settle any claim at any time at its expense, so long as such settlement includes as an unconditional term thereof the
giving by the claimant of a release of the Indemnitee from all liability with respect to such claim. 
  

	11.	Force Majeure 

  

	 	11.1.	The failure of ABC to timely supply its production services and materials because of fire, flood, epidemic, earthquake, explosion, accident, or other act of God; act of public
enemy; act of government, including governmental order, regulation or order of any court of competent jurisdiction; labor dispute or strike; riot; civil disturbance; war (whether declared or undeclared) or armed conflict; failure of common carriers;
or other cause of a similar nature beyond the control of ABC shall not constitute grounds for any action by Distributor to recover damages. Any time period or date certain specified in this Agreement shall be postponed for a period of time equal to
the duration of the event of force majeure. In the event of a force majeure event, ABC shall use all reasonable efforts to cure the nonperformance resulting from such force majeure event; and ABC shall promptly notify Distributor whether or not it
shall be able to make a late performance of its obligations hereunder, and if so, when that shall occur; provided, however, that if the force majeure event causes a delay of thirty (30) days or more, this agreement may be terminated at the
option of Distributor. Signal loss or degradation in the transmission of the Radio Service to Distributor due to atmospheric conditions, failure of satellite or common carrier facilities, third party interference or other circumstances beyond
ABC’s control shall not be deemed a breach of this Agreement, nor shall they be deemed a force majeure event unless systematic and sustained.  

  

	12.	Confidentiality 

  

	 	12.1.	 Other than as may be required by any applicable law, governmental order or regulation or by order or decree of any court of competent jurisdiction, neither ABC nor
Distributor shall publicly divulge or announce, or in any manner disclose to any third party, any of the specific terms and conditions of this Agreement, including without limitation the reimbursements payable hereunder. 

  

 11 

 
For the sole purpose of this paragraph, a third party shall be deemed not to include accountants, auditors, legal counsel, lending institutions, strategic
partners, investors, acquirers, affiliates of The ABC Television Network and parent or related companies, provided they are subject to confidentiality obligations. 
  

	13.	Audit Rights 

  

	 	13.1.	ABC shall keep books of account at its New York office with respect to the production of the Radio Service. Said books, to the extent they have not become incontestable or have not
been previously examined, may be examined at Distributor’s expense once in each 12 month period (the first of which commences upon the first anniversary of the Effective Date) by a national firm of reputable CPAs or entertainment industry
auditing firms, the selection of which is subject to ABC’s approval not to be unreasonably withheld. No such examination may continue beyond a period of 30 days after commencement. A copy of the report of such examination shall be delivered to
ABC at such time as it is made available to Distributor. If any audit discloses, or Distributor otherwise discovers an undisputed overstatement of production expenses, the amount of such undisputed overstatement shall be credited to
Distributor’s next required payment hereunder or if none, promptly paid to Distributor. ABC statements of production expenses shall be considered incontestable if not audited during the calendar year following the year in which they were
issued. 

  

	14.	Assignment 

  

	 	14.1.	Neither party may assign this Agreement or any of its rights or obligations hereunder, in whole or in part without the prior written approval of the other, except that Distributor
may license the Radio Service, and grant sublicenses under the rights and licenses granted to it hereunder, to broadcasters in the ordinary course of business. Any attempted assignment shall be deemed a material breach of this Agreement.
Notwithstanding the foregoing, either party shall have the right to assign this Agreement, or any part thereof, to any of its Affiliates with the resources to fulfill its obligations hereunder or to any entity acquiring all or substantially all of
its assets and businesses. 

  

	15.	Service Of Notice 

  

	 	15.1.	All notices Distributor is required, or may desire, to give ABC in writing shall be given to: 

 American Broadcasting Companies, Inc. 
 500
South Buena Vista Street 
 Burbank, California 91521 
 Attn:
                                      
  

 12 

 Telephone:
                            
 Facsimile:                               
 delivered by hand, registered mail, telegram, telex, facsimile (receipt confirmed) or overnight courier of national reputation. All notices which ABC is
required, or may desire, to give Distributor shall be given in writing and delivered by hand, registered mail, facsimile (receipt confirmed) or overnight courier of national reputation to: 
 [Distributor] 
  

	 	15.2.	If the last date on which a notice that this Agreement requires or permits to be given shall fall on a Saturday, Sunday or day on which the department of the sending party
responsible for sending such notice is not open for business, then such last date shall be deemed postponed until the first day that is not a Saturday, Sunday or closed day. 

  

	16.	New York Law 

  

	 	16.1.	This Agreement shall be governed by the law of the State of New York applicable to agreements executed and performed entirely therein. 

  

	17.	Relationship Of Parties 

  

	 	17.1.	ABC and Distributor are independent contractors with respect to each other and nothing herein shall create any association, partnership, joint venture or agency relationship between
ABC and Distributor. All persons employed by either party in connection with its performance hereunder shall be that party’s employees or agents, and, as between the parties, that party shall be solely responsible for all matters relating to
such persons, including, without limitation, all compensation, withholding taxes, workers’ compensation insurance and any other payments, deductions and contributions which may be required by any law, personal service contract, or collective
bargaining agreement applicable to that party and/or such persons. Each party shall indemnify, defend and hold harmless the other and the other’s Affiliates, licensees and assigns from and against the obligation to make any such payments,
deductions or contributions. 

  

	18.	Provision Validity 

  

	 	18.1.	In the event that any provision of this agreement is deemed by a court of competent jurisdiction to be invalid or unenforceable, then that provision shall be deemed to have been
deleted herefrom and shall in no way affect the validity or enforceability of any other provision of this agreement. 

  

	 	18.2.	 If any provision hereof conflicts with any law, the latter shall prevail, but such provision shall be restricted only to the extent necessary to meet the applicable

  

 13 

	 	 
minimum requirements of such law and shall not affect any other provision hereof nor the validity or enforceability of this Agreement.

  

	19.	Section 508 

  

	 	19.1.	In compliance with Section 508 of the Communications Act of 1934, as amended, ABC represents and warrants that it has not accepted nor agreed to accept, and will not permit its
employees, agents, representative, contractors or Affiliates to accept any monies, services or other consideration for the inclusion of any commercial material or matter in any Program. ABC hereby certifies that it has no knowledge of any
information relating to any Program that is required to be disclosed by Distributor under Section 508 and that it will promptly disclose to Distributor any such information of which it hereafter acquires knowledge. At Distributor’s
request, ABC will furnish to Distributor such affidavits or statements as Distributor may require with respect to compliance with Section 508. 

  

	20.	Further Assurances 

  

	 	20.1.	Each party shall execute and deliver to the other, after opportunity to review and negotiate draft language, promptly upon such party’s request, any other instruments or
documents consistent herewith considered by the requesting party to be necessary or desirable to evidence, effectuate or confirm this Agreement, or any of the terms and conditions hereof. 

  

	21.	Complete Agreement 

  

	 	21.1.	This Agreement contains the entire understanding of the parties, and supersedes all prior written or oral agreements and understandings between ABC and Distributor relating to the
subject matter of this Agreement. No modification, alteration or amendment to this Agreement shall be valid unless in writing and signed by the parties hereto. 

  

	22.	No Third Party Beneficiaries 

  

	 	22.1.	This Agreement is for the sole benefit of the parties hereto and their authorized successors and permitted assigns. Nothing herein, express or implied, is intended to or shall
confer upon any person or entity (including, but not limited to, sublicensees of Distributor), other than the parties hereto and their authorized successors and permitted assigns, any legal or equitable right, benefit or remedy of any nature
whatsoever under or by reason of this Agreement. 

  

	23.	Counterparts 

  

	 	23.1.	 This Agreement may be executed in any number of counterparts and all said counterparts when executed and delivered, each as an original, shall constitute 

  

 14 

	 	 
but one and the same instrument. Signatures transmitted via fax shall be considered originals for the purposes of this Agreement.

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

									
	 AMERICAN BROADCASTING
 COMPANIES,
INC.
	 		 	[DISTRIBUTOR]
					
	By	 	  
	 		 	By	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	

  

 15

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