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Document Preview Commissions Agreement |
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Title: |
Commissions Agreement |
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Date: |
2002 |
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Preview shows 3KB of 31KB total |
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Price: |
$36 |
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ID: |
#137560 |
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NMR COMMISSIONS AGREEMENT
NMR COMMISSIONS AGREEMENT (as amended from time to time, the
"Agreement"), dated as of May 7, 2002 (the "Effective Date"), with respect to
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Operating Agreement (as amended from time to time, the "Operating Agreement"),
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dated August 15, 1999, between NetRatings, Inc., a Delaware corporation
("NetRatings"), and Nielsen Media Research, Inc., a Delaware corporation
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("NMR"). Defined terms used but not otherwise defined herein shall have the
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respective meanings ascribed to them in the Operating Agreement.
Section 5.1 of the Operating Agreement provides that, except as
otherwise provided therein, all Net Customer Billings derived from the
marketing, sale and distribution of the Approved Internet Service shall be
allocated in the following percentages: (i) NMR - 35% (the "Commission") and
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(ii) NetRatings - 65%.
NetRatings has entered into an Agreement and Plan of Reorganization
dated as of May , 2002 (the "Merger Agreement") with, among others, ACNielsen
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Corporation and ACNielsen eRatings.com. Section 6.2(h) of the Merger Agreement
contemplates that NetRatings and NMR will have entered into this Agreement as of
the Effective Time (as defined in the Merger Agreement).
NetRatings and NMR wish to modify Section 5.1 and certain other
provisions of the Operating Agreement as described below.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:
1. From the Effective Date until the termination of this Agreement:
(a) Subject to Section 1(c) below, no Commission shall be payable to
NMR following the Effective Date with respect to Net Customer Billings
derived from customer sales; and
(b) The second sentence of Section 2.2 of the Operating Agreement
shall be amended and restated in its entirety to read as follows:
"Notwithstanding the foregoing, NMR shall have primary responsibility
for marketing products and services of the Approved Internet Service
which are marketed and sold using the NMR Trademarks and the NRI
Trademarks to customers in the following categories, in each case, to
the extent that such customers are located in North America: (i)
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