Termination Agreement for Surviving Provisions of Letter Agreement among J2 Communications, James P. Jimirro, Daniel S. Laikin, and Paul Skjodt

Summary

J2 Communications, James P. Jimirro, Daniel S. Laikin, and Paul Skjodt agree to fully terminate all provisions of their prior Letter Agreement dated March 5, 2001, including those sections that were originally intended to survive termination. This agreement confirms that none of the Letter Agreement's terms, including the surviving provisions, remain in effect, and all parties are released from their obligations under that agreement.

EX-10.12 18 v82023exv10w12.txt EXHIBIT 10.12 Exhibit 10.12 J2 COMMUNICATIONS 10850 WILSHIRE BOULEVARD SUITE 1000 LOS ANGELES, CA 90024 May 17, 2002 CONFIDENTIAL Mr. Daniel S. Laikin 25 West 9th Street Indianapolis, Indiana 46204 Mr. Paul Skjodt 9920 Towne Road Carmel, Indiana 46032 Gentlemen: Re: Termination of Surviving Provisions of Letter Agreement Gentlemen: Pursuant to Section 11(c) of the Letter Agreement, dated as of March 5, 2001 (as amended, the "Letter Agreement"; capitalized terms used in this letter but not otherwise defined herein shall have the respective meanings assigned to them in the Letter Agreement), by and among J2 Communications, a California corporation (the "Company"), James P. Jimirro, Daniel S. Laikin and Paul Skjodt, the parties agreed that, in the event that the Closing did not occur for any reason, including termination of the Letter Agreement as provided in Section 11(b) thereof, the Letter Agreement would be of no further force and effect; provided, however, that the provisions of Sections 4, 5, 6, 7, 11(c), 12(e), 14 and 19 were to remain in full force and effect regardless of any termination of the Letter Agreement, and that no such termination was to release any party thereto from liability for his or its willful breach thereof. This letter confirms the parties' understanding, and when signed, their binding agreement that, notwithstanding Section 11(c) of the Letter Agreement, the Letter Agreement is terminated and of no further force or effect, including, without limitation, Sections 4, 5, 6, 7, 11(c), 12(e), 14 and 19 thereof. [remainder of page intentionally left blank] If the foregoing is acceptable to you, please so indicate by executing a counterpart of this Letter Agreement below and returning it to the Company. Sincerely, J2 COMMUNICATIONS By:___________________________________ Name: Title: By:___________________________________ Name: Title: THE FOREGOING IS ACCEPTED AND AGREED TO AS OF THE FIRST DATE SET FORTH ABOVE: ______________________________________ JAMES P. JIMIRRO ______________________________________ DANIEL S. LAIKIN ______________________________________ PAUL SKJODT