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Exhibit 10.17
EXECUTION COPY
AMENDMENT TO
MEMORANDUM OF UNDERSTANDING
This Amendment (this "Amendment"), dated as of December 8, 2009 ("Amendment Effective Date"), is entered into by and between AOL Inc., a Delaware
corporation, with its principal offices at 770 Broadway, New York, New York 10003 ("AOL"), and Telepictures Productions Inc., a Delaware corporation,
with its principal offices at 4000 Warner Blvd., Burbank, CA 91522 ("TP"; and together with AOL, the "Parties" and each a "Party") to amend that certain
Memorandum of Understanding, effective as of July 25, 2005, between AOL (as assignee of AOL LLC (f/k/a America Online, Inc.)) and TP, as such
Memorandum of Understanding may have been amended from time to time (as so amended, the "MOU").
1. Binding MOU; Term. Except as amended herein effective as of the date first written above, AOL and TP agree that the MOU shall remain in full force
and effect, and shall be binding and enforceable against each Party, in accordance with the terms thereof. Notwithstanding any other provision in the
MOU or this Amendment, the MOU, as amended by this Amendment, shall become effective as of the Amendment Effective Date and terminate on the
date that is the earlier of December 31, 2010 or twelve (12) months after the on the date AOL is no longer wholly owned by Time Warner Inc. ("Spin
Date"), or such earlier date as the Parties may mutually agree in writing.
2. Amendments. AOL and TP hereby agree to amend the MOU as follows, effective as of the Spin Date:
a. Section 2.1 of Exhibit A to the MOU is hereby amended by deleting it in its entirety and substituting the following:
"2.1 Brand Website: the website located at www.tmz.com."
b. Section 2.3 of Exhibit A to the MOU is hereby amended by deleting all references to AOL's assistance in obtaining approvals.
c. Section 2.4 of Exhibit A to the MOU is hereby amended by deleting it in its entirety and substituting the following:
"2.4 Services Provided by AOL.
• Hosting and Streaming:
– AOL shall be responsible for procuring and maintaining the production equipment for the Brand Website and procuring and
maintaining the transmission of the Brand Website information to the Internet (collectively, "Hosting and Streaming").
Beginning on the Spin Date, instead of the foregoing, AOL shall provide Hosting and Streaming to the Brand Website in
accordance with the terms of the Master Services Agreement