Amendment to Main Agreement Between Rite Aid Corporation and drugstore.com (Section 15.5 Extension Terms)
This amendment updates the agreement between Rite Aid Corporation and drugstore.com, originally dated June 17, 1999. The change specifically modifies Section 15.5, adjusting the deadline for either party to provide written notice of nonrenewal. Now, notice must be given at least eleven months before the end of the initial term, and at least thirty days before the end of any renewal term. All other terms of the original agreement remain unchanged.
Exhibit 10.1
April 30, 2008
Mr. James J. Comitale
Rite Aid Corporation
30 Hunter Lane
Camp Hill, Pennsylvania 17011
Re: Rite Aid / Drugstore.com Agreement Amendment
Dear Mr. Comitale:
I am writing with regard to amending Section 15.5 of the Main Agreement between Rite Aid Corporation (Rite Aid) and drugstore.com (drugstore.com) dated June 17, 1999 (the Agreement). Section 15.5 provides that the Agreement will automatically be extended for successive one year periods unless either party gives the other party written notice not later than one year and 30 days prior to the expiration of the Term of the Agreement.
As we have previously discussed, both Rite Aid and drugstore.com wish to defer the deadline for written notification of nonrenewal under section 15.5 by two months. Accordingly, by signing the acknowledgement below on Rite Aids behalf, the parties will agree to amend only section 15.5 of the Agreement to read as follows:
15.5 Unless either party gives the other party written notice not later than eleven (11) months prior to the expiration of the initial ten year Term that it does wish to extend the Term, the Term will automatically be extended for successive one year periods. Any additional one year term will automatically be extended for successive one year periods. Any additional one year term will automatically be renewed unless either party gives the other party written notice to the contrary not later than thirty (30) days prior to the expiration of the then current term.
Neither party intends this amendment of section 15.5 of the Agreement to in any way modify any other term of the Agreement or the Pharmacy Supply and Services Agreement between Rite Aid and drugstore.com, also dated June 17, 1999. If the foregoing meets with your approval, please countersign this letter agreement below and return an original to me.
Sincerely, |
/s/Yukio Morikubo |
Yukio Morikubo |
drugstore.com, inc. |
Agreed and accepted: | ||||||||
RITE AID CORPORATION | ||||||||
/s/James J. Comitale | ||||||||
Name: | James J. Comitale | |||||||
Title: | Vice President & Assistant | Date: | April 30, 2008 |