Common use of Supplemental Programs Clause in Contracts

Supplemental Programs. The Company (or its subsidiaries) may produce and/or acquire programs whose primary use is exhibition on one or more of the Channels ("Supplemental Programs"). The Company will engage in such production or acquisition of Supplemental Programs in conjunction with PTV U.S., which will obtain the United States distribution rights, if any, to such programs. PTV U.S. will grant to PEGI the right to distribute such programming in the United States pursuant to the US Distribution Agreement. The budget for the production/acquisition cost of Supplemental Programs for each Fiscal Year will be set forth in the Annual Budget for such Fiscal Year; provided that such budget will not be less than $1,500,000. The Supplemental Programs will be consistent with the content, style and production values of the Existing Library Programs and the Output Programs provided by PEGI to the Company pursuant to the Program License Agreement. Upon dissolution of the Company, the Supplemental Programs will become property of PEGI, for a price to be negotiated by PEGI and the Company; provided that if the parties cannot reach agreement, the price will be determined through the dispute resolution procedure set forth in Article 16.