read the 8k Amended
It's not hard to read a filing, really it isnt. From the 8ka
3. Term of the Pilot Program. It is the intention of the Parties that the Pilot Program shall commence on or about November 1, 2005 and terminate on March 15, 2006. Thereafter, if the Parties mutually agree that a National Rollout of the Program is mutually beneficial, the Parties shall enter into a definitive agreement for such National Rollout.
Read the CHANGE in Letter G from the 8k to 8ka. In the change it now no longer says that the national rollout is ASSUMED at 55 stores/mo to last for at least 12 months at the end of the pilot. There is no automatic rollout at pilot end, they must now mutually agree to a rollout and sign an agreement. So, they could just go as is no change, they could end the whole deal on 10 days notice or they could entertain anything they damn well please. Regardless, there is no automatic rollout after the 15th.
It now says:
G. TERM; TERMINATION. Unless earlier terminated as provided herein, the term of this Agreement shall commence on the Effective Date and continue through the end of the Pilot Program on March 15, 2006. Notwithstanding anything to the contrary, Circuit City may terminate this Agreement upon ten (10) days' written notice to GNF. Either Party may terminate this Agreement with cause, effective immediately upon providing ten (10) days notice to the other Party and if the other Party fails to remedy the breach within five (5) days of such notice, upon any of the following: (i) if either Party, or its agents or contractors, is in material breach of this Agreement; or (ii) in the event that (a) either Party becomes insolvent, enters into receivership, is the subject of a voluntary or involuntary bankruptcy proceeding, or makes an assignment for the benefit of creditors; or (b) a substantial part of either Party's property is or becomes subject to any levy, seizure, assignment or sale for or by any creditor or governmental agency. Upon termination or expiration: (i) GNF shall continue to provide Services to Circuit City Customers who subscribed to the Service(s) prior to termination of this Agreement; (ii) both Parties shall pay the respective sums due to the other Party pursuant to this Agreement as part of the final winding up under the Agreement; and (iii) both Parties shall endeavor to provide reasonable transition assistance if and when the Agreement is terminated.
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