{"id":42308,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/first-amendment-to-the-strategic-marketing-agreement.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"first-amendment-to-the-strategic-marketing-agreement","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/operations\/first-amendment-to-the-strategic-marketing-agreement.html","title":{"rendered":"First Amendment to the Strategic Marketing Agreement"},"content":{"rendered":"
   
\n   
FIRST AMENDMENT TO STRATEGIC MARKETING AGREEMENT <\/b><\/p>\n   <\/div> \n  
This First Amendment to Strategic Marketing Agreement (this \u0093Amendment\u0094) is entered into as of June 1, 2002, (the \u0093Effective Date\u0094) by and between Best Buy Co., Inc., Best Buy Stores, L.P. and BestBuy.com LLC (fka\nBestBuy.com, Inc.) with offices at 7075 Flying Cloud Drive, Eden Prairie, Minnesota 55344, (\u0093Best Buy\u0094) and Netflix, Inc., a Delaware corporation (successor by name change to NetFlix.com, Inc.), with offices at 970 University Avenue, Los\nGatos, California 95032 (\u0093Netflix\u0094). <\/div>  
\n  
RECITALS <\/b><\/p>\n  <\/div> \n 
\n  
A.    Best Buy and Netflix entered into that certain Strategic Marketing Agreement entered into as of August 15, 2001 (the \u0093Agreement\u0094).<\/p>\n  <\/div> \n
\n  
B.    Best Buy and Netflix desire to amend the Agreement as set forth below<\/p>\n  <\/div>\n
\n  
NOW THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt\n  and sufficiency of which is hereby acknowledged, the parties agree as follows:<\/p>\n  <\/div> \n
\n  
1.    The\n  parties acknowledge that Netflix has changed its name from NetFlix.com, Inc. to Netflix, Inc. As such, the defined term Netflix, shall refer to Netflix, Inc.<\/p>\n  <\/div> \n
\n  
2.    Section 1.12 of the Agreement is hereby deleted in its entirety and replaced with the following:<\/p>\n  <\/div> \n
\n  
\u0093Expiration Date\u0094 means the later of (i) twenty four (24) months from the Start Date or the next business day if such date falls on a weekend or holiday; or (ii)\n  if applicable, the expiration of the Renewal Period.<\/p>\n  <\/div> \n
\n  
3.    Section 1.26 of the Agreement is\n  hereby deleted in its entirety and replaced with the following:<\/p>\n  <\/div> \n
\n  
\u0093Start Date\u0094 shall mean August 15,\n  2001.<\/p>\n  <\/div> \n
\n  
4.    Section 1.29 of the Agreement is hereby deleted in its entirety and replaced with\n  the following:<\/p>\n  <\/div> \n
\n  
\u0093Subscriber\u0094 means a customer, with a mailing address within the United States, its\n  territories, or possessions, (who had not, before the execution of this Agreement, subscribed to Netflix\u0092s online DVD rental service) who has agreed to the terms and conditions of the Netflix service, subscribes for DVD rental service and\n  [*]via (a) the Netflix Site through a Promotion Code provided for by this Agreement or (b) the Co-branded Site. As used <\/p>\n  <\/div> \n 
[*] \u0096 Confidential Treatment Requested<\/u><\/div> 
1<\/div> \n\n\n
\n<\/p>
\n\n 
\n   
in this definition, [*]shall mean that the [*]has not been [*]to or [*]or otherwise[*].<\/p>\n  <\/div> \n 
\n   
5.    Best Buy acknowledges that it has received the Shares issued under Section 3.1 of the Agreement and[*]. Netflix hereby represents to Best Buy that it has not issued any\n  additional shares of stock that would trigger any rights under Section 3.1.1 of the Agreement. <\/p>\n   <\/div> \n  
6.    Section 3.2 of the Agreement is hereby deleted in its entirety and replaced with the following: <\/div>  
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