Attached files

file filename
10-Q - FORM 10-Q - MARTHA STEWART LIVING OMNIMEDIA INCd419654d10q.htm
EX-10.1 - LETTER AGREEMENT, DATED AS OF JULY 9, 2012 - MARTHA STEWART LIVING OMNIMEDIA INCd419654dex101.htm
EXCEL - IDEA: XBRL DOCUMENT - MARTHA STEWART LIVING OMNIMEDIA INCFinancial_Report.xls
EX-32 - CERTIFICATION OF PEO AND PFO PURSUANT TO SECTION 906 - MARTHA STEWART LIVING OMNIMEDIA INCd419654dex32.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - MARTHA STEWART LIVING OMNIMEDIA INCd419654dex312.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - MARTHA STEWART LIVING OMNIMEDIA INCd419654dex311.htm

Exhibit 10.2

Second Amendment

This Second Amendment, dated as of July 11, 2012 (the “Amendment 2” and the “Amendment Date,” respectively), amends that certain agreement between Martha Stewart Living Omnimedia, Inc. (“MSLO”) and J.C. Penney Corporation, Inc. (“JCP”), dated December 6, 2011 (as amended, the “Agreement”). Specifically, for good and valuable consideration, the sufficiency of which the parties do hereby acknowledge, the parties, by executing this Amendment 2, agree to amend the Agreement as follows:

 

1. Capitalized terms used in this Amendment 2 and not otherwise defined herein shall have the meaning provided in the Agreement.

 

2. In response to JCP’s request pursuant to subsection 4(d)(iii) of the Agreement, MSLO hereby agrees that the following Additional Categories will be sold in the MSLO Stores starting on the Launch Date:

Fashion Bedding (open stock and sets)

 

   

sheets

 

   

pillowcases

 

   

duvet covers

 

   

comforters

 

   

bedskirts

 

   

bedspreads (quilted and other)

 

   

night spreads

 

   

quilts

 

   

shams (quilted and other)

 

   

decorative pillows

 

   

bed sheets

 

   

flannel bedding

Utility Bedding

 

   

comforters (down and synthetic filled)

 

   

duvets (down and synthetic filled)

 

   

sleeping pillows (down and synthetic filled)

 

   

mattress pads

 

   

box spring covers

 

   

feather beds

 

   

blankets

 

   

throws

Bath (open stock and sets)

 

   

towels

 

   

bathmats

 

   

bath sheets

 

   

body sheets

 

   

bath rugs

 

   

mitts


   

soaps

 

   

bathrobes

 

   

slippers

 

   

bath accessories

 

   

beach towels

Decorative Accessories

 

   

candles

 

   

candlesticks

 

   

home fragrances

 

   

clocks

Furniture (sold from display items only)

 

   

beds

 

   

dining room table and chairs

 

   

night stand

3. The Christmas Trim category set forth on Appendix 5 shall be replaced with the following:

Christmas Trim

Trees (42 inches and below)

Ornaments (except shatterproof ornaments)

Non-lit garlands

Holiday Mats

Tree Skirts

Stockings

Table Top

4. The minimum payments to be made by JCP to MSLO under Subsection 9(a) of the Agreement will now be the Maximum Guaranteed Minimum Payments for each Payment Period.

5. MSLO desires to commence a Celebrations Business with JCP on a non-exclusive basis. JCP hereby agrees that, in order to permit MSLO to benefit from JCP’s expertise in the retail store business and in order to further strengthen the business relationship between MSLO and JCP, it will provide reasonable assistance to MSLO with respect to the Celebrations Business, including support and services for MSLO Celebrations Stores. The parties contemplate that MSLO Celebrations Stores will be located in JCP Stores or elsewhere and that the Celebrations Business will Launch on the Launch Date. MSLO shall have the right to terminate the Celebrations Business and the rights granted to JCP in this paragraph without cause, beginning effective February 1, 2016, provided that MSLO agrees to provide at least six months written notice of such termination to JCP; and provided further that, prior to exercising the foregoing termination right, MSLO will discuss in good faith with JCP alternative business arrangements for the Celebrations Business. As used herein, “Celebrations Business” shall mean an MSLO

 

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business consisting of developing, marketing and selling MSLO Products in the Celebrations Product Categories in retail stores that prominently feature the Martha Stewart Marks or that feature the Stewart Property (“MSLO Celebrations Stores”).

The following celebrations Product Categories (the “Celebrations Product Categories”) will be added to the Non-Exclusive Categories set forth on Appendix 5:

 

  a. Paper-based Baking/Decorating

 

  i. Cups

 

  ii. Wrappers

 

  iii. Food Packaging

 

  iv. Twine

 

  v. Cupcake Stands

 

  vi. Cake Stands

 

  vii. Cupcake toppers

 

  viii. Candles

 

  ix. Cake boxes

 

  x. Drink picks

 

  xi. Candy jars

 

  b. Gift Packaging

 

  i. Gift bags

 

  ii. Gift wrap

 

  iii. Ribbon

 

  c. Paper/Plastic Tabletop

 

  i. Cups

 

  ii. Napkins

 

  iii. Plates

 

  iv. Runners

 

  v. Table cloths

 

  vi. Chargers

 

  vii. Utensils

 

  viii. Serving Pieces

 

  d. Stationery

 

  i. Invitations

 

  ii. Thank You’s

 

  iii. Place Cards and Holders

 

  iv. Greeting Cards

 

  b. Favors

 

  i. Containers

 

  ii. Kits

 

  iii. Candy Favors

 

  iv. Small Gift Favors

 

  c. Decorations/Party Decor

 

  i. Balloons

 

  ii. Garlands

 

  iii. Streamers

 

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  iv. Confetti

 

  v. Banners

 

  vi. Cutouts

 

  vii. Clings

 

  viii. Hanging Lanterns

 

  ix. Table Centerpieces

 

  d. Other

 

  i. Noisemakers

 

  ii. Hats

 

  iii. Wearables

6. The following categories will be also added to Appendix 5 as Non-Exclusive Categories:

Window Hardware

Portable and Hard-Wire Lighting

Food

 

   

Pasta / Pasta Sauce

 

   

Salsa

 

   

Mustards

 

   

Dip

 

   

Coffee, Tea, Hot Chocolate

 

   

Oil and Vinegar

 

   

Preserves, Jams

 

   

Soup and Chili Mix

 

   

Salad Dressing

 

   

Legumes/Beans

 

   

Salt, Pepper, Spices

 

   

Bread/Muffin Mix

 

   

Biscuit, Pancake, Waffle Mix

 

   

Granola

 

   

Nuts and Nut mixes

 

   

Maple Syrup

 

   

Cake Mixes

 

   

Frosting Mixes

 

   

Cake/Cupcake Toppings

7. Except as specifically amended by this Amendment 2, the terms and provisions of the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties herein have so agreed, effective as of the Amendment Date.

 

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J.C. Penney Corporation, Inc.     Martha Stewart Living Omnimedia, Inc.
By:  

/s/ John Tighe

    By:  

/s/ Daniel Taitz

  Signature       Signature
Name:   John Tighe     Name:   Daniel Taitz
Its:   SVP/GMM Home Division     Its:   EVP, CAO and General Counsel

 

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