Amended Credit Letter Agreement between Hollywood Media Corp. and Mitchell Rubenstein & Laurie S. Silvers (August 5, 2005)
Hollywood Media Corp. and its executives, Mitchell Rubenstein and Laurie S. Silvers, have amended a previous funding agreement. The executives have agreed to continue providing up to $5 million in funding to Hollywood Media Corp. through January 1, 2007. All other terms from the original March 28, 2005 agreement remain unchanged. This amendment extends the period during which the company can access the committed funds.
Exhibit 10.1
August 5, 2005
Hollywood Media Corp.
2255 Glades Road, Suite 221A
Boca Raton, FL 33431
Reference is hereby made to that certain letter agreement dated March 28, 2005 (the “Letter Agreement”) whereby Mitchell Rubenstein and Laurie S. Silvers (together, the “Obligors”) committed to fund up to $5.0 million to Hollywood Media Corp. on the terms set forth therein.
This letter confirms our agreement that:
1.
The commitment of the Obligors to provide funding as set forth in the Letter Agreement shall continue in effect through January 1, 2007.
2.
Except as stated herein, all other terms of the Letter Agreement shall remain in full force and effect.
Sincerely,
/s/ Mitchell Rubenstein
Mitchell Rubenstein
Chief Executive Officer
/s/ Laurie S. Silvers
Laurie S. Silvers
President
Acknowledged and agreed to by
Hollywood Media Corp.
By:/s/ Scott Gomez
Name:
Scott Gomez
Title:
Chief Accounting Officer
