AMENDMENT NO. 7 TO SERVICE AGREEMENT
Exhibit 10.1
AMENDMENT NO. 7 TO SERVICE AGREEMENT
THIS AMENDMENT NO. 7 TO SERVICE AGREEMENT (Amendment) is made as of December 1, 2004 by and between THE HEARST CORPORATION, a Delaware corporation (Hearst), and HEARST-ARGYLE TELEVISION, INC., a Delaware corporation (the Company).
W I T N E S S E T H
WHEREAS, Hearst and the Company entered into a Service Agreement dated as of August 29, 1997 and amended by Amendments Nos. 1 through 6 (the Service Agreement), pursuant to which Hearst provides certain services to the Company; and
WHEREAS, Hearst and the Company mutually desire to amend the Service Agreement as set forth hereinafter;
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree to amend the Service Agreement as follows:
1. Section 3.1 of the Service Agreement is hereby amended by substituting the date of December 31, 2005 in place and instead of the December 31, 2004 date.
2. Effective January 1, 2005, Schedule 2.1A attached hereto and made a part hereof shall be substituted in place and instead of Schedule 2.1 of the Service Agreement.
3. Hearst Service Center transaction charges for new acquisitions shall be priced using the current transaction rates and estimated volume.
4. Controllers office, Treasurers office and Legal Department charges are annual estimates to service the entire group, these charges are allocations of specific departments current year budgets to support the entire company.
5. Except as expressly set forth herein, all terms and conditions of the Service Agreement shall continue in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.
THE HEARST CORPORATION | HEARST-ARGYLE TELEVISION, INC. | |||||
By: | /s/ Ronald J. Doerfler | By: | /s/ Jonathan C. Mintzer | |||
Name: | Ronald J. Doerfler | Name: | Jonathan C. Mintzer | |||
Title: | Chief Financial Officer | Title: | Vice President, General Counsel and Secretary | |||
Dated: | March 29, 2005 | Dated: | March 29, 2005 |