Letter Agreement Amending Stock Option Agreement Between StoryFirst Communications, Inc. and The H.A.M. Media Group, LLC

Summary

This letter agreement amends a previous stock option agreement between StoryFirst Communications, Inc. and John T. Healy. It corrects the original grant of stock options, changing the option holder from Mr. Healy to The H.A.M. Media Group, LLC, an entity affiliated with him. The amendment also clarifies that if Mr. Healy dies while the option is outstanding, the option will lapse six months after his death, but not beyond its expiration date. Both Mr. Healy and The H.A.M. Media Group, LLC have agreed to these changes.

EX-10.4 14 file009.htm LETTER AGREEMENT, AMENDING THE HEALY OPTION

Exhibit 10.4 [LETTERHEAD OF STORYFIRST COMMUNICATIONS, INC.] John T. Healy August 10, 2004 c/o The H.A.M. Media Group, LLC 305 Madison Avenue Suite 3016 New York, NY 10017 USA Dear Mr. Healy: Reference is made to the Stock Option Agreement dated January 1, 2003 between StoryFirst Communications, Inc. (the "Company") and John T. Healy (the "Option"). Further reference is made to the Amended and Restated Consulting Agreement dated July 1, 2000 (the "Consulting Agreement") between the Company and The H.A.M. Media Group, LLC ("HMG"). Pursuant to Section 3.4 of the Consulting Agreement, options were to be granted to HMG, an entity affiliated with Mr. Healy. When the Option was granted it was erroneously granted n the name of Mr. Healy instead of HMG. To correct this error, Section 1(o) of the Option is hereby amended by deleting such subsection in its entirety and replacing it with the following: "(o) Optionee means The H.A.M. Media Group, LLC. Further, Section 7(a) of the Option is hereby amended by deleting it in its entirety and replacing it with the following: "(a) Should John T. Healy die while the Option is outstanding, the Option shall lapse and shall cease to be outstanding six months following Mr. Healy's death, but in no event shall the Option be exercisable at any time after the Expiration Date. Please acknowledge your acceptance, and HMG's acceptance, of this amendment by countersigning this letter below and retuning a countersigned copy of this letter to me by fax on +7 095 ###-###-####. STORYFIRST COMMUNICATIONS, INC. By: /s/ L/ Tate Fite ------------------------------- L. Tate Fite Chief Financial Officer Acknowledged and agreed: /s/ John T. Healy --------------------------------- John T. Healy Date: August 10, 2004 --------------------------------- THE H.A.M. MEDIA GROUP, LLC By: /s/ John T. Healy --------------------------------- Name: John T. Healy --------------------------------- Title: Principal Director/Consultant --------------------------------- Date: August 10, 2004 ---------------------------------