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Warner Music Group Corp. – ‘10-K’ for 9/30/16 – ‘EX-10.17’

On:  Thursday, 12/8/16, at 7:47am ET   ·   For:  9/30/16   ·   Accession #:  1564590-16-29963   ·   File #:  1-32502

Previous ‘10-K’:  ‘10-K’ on 12/10/15 for 9/30/15   ·   Next:  ‘10-K’ on 12/5/17 for 9/30/17   ·   Latest:  ‘10-K’ on 11/21/23 for 9/30/23

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/08/16  Warner Music Group Corp.          10-K        9/30/16  113:44M                                    ActiveDisclosure/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.72M 
 3: EX-10.12    Material Contract                                   HTML     39K 
 4: EX-10.17    Material Contract                                   HTML     37K 
 5: EX-10.41    Material Contract                                   HTML    905K 
 6: EX-10.44    Material Contract                                   HTML   1.14M 
 2: EX-10.8     Material Contract                                   HTML     78K 
 7: EX-21.1     Subsidiaries List                                   HTML     56K 
 8: EX-31.1     Certification -- §302 - SOA'02                      HTML     36K 
 9: EX-31.2     Certification -- §302 - SOA'02                      HTML     37K 
10: EX-32.1     Certification -- §906 - SOA'02                      HTML     33K 
11: EX-32.2     Certification -- §906 - SOA'02                      HTML     33K 
18: R1          Document and Entity Information                     HTML     61K 
19: R2          Consolidated Balance Sheets                         HTML    131K 
20: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
21: R4          Consolidated Statements of Operations               HTML     85K 
22: R5          Consolidated Statements of Operations               HTML     36K 
                (Parenthetical)                                                  
23: R6          Consolidated Statements of Comprehensive Loss       HTML     54K 
24: R7          Consolidated Statements of Cash Flows               HTML    148K 
25: R8          Consolidated Statements of Cash Flows               HTML     42K 
                (Parenthetical)                                                  
26: R9          Consolidated Statement of Equity                    HTML     60K 
27: R10         Description of Business                             HTML     50K 
28: R11         Summary of Significant Accounting Policies          HTML     87K 
29: R12         Comprehensive Income (Loss)                         HTML    107K 
30: R13         Property, Plant and Equipment                       HTML     73K 
31: R14         Goodwill and Intangible Assets                      HTML    188K 
32: R15         Debt                                                HTML     91K 
33: R16         Income Taxes                                        HTML    265K 
34: R17         Employee Benefit Plans                              HTML     38K 
35: R18         Restructuring                                       HTML    120K 
36: R19         Share-Based Compensation Plans                      HTML    175K 
37: R20         Related Party Transactions                          HTML     47K 
38: R21         Commitments and Contingencies                       HTML     67K 
39: R22         Derivative Financial Instruments                    HTML     47K 
40: R23         Segment Information                                 HTML    253K 
41: R24         Additional Financial Information                    HTML     35K 
42: R25         Fair Value Measurements                             HTML    138K 
43: R26         Subsequent Events                                   HTML     40K 
44: R27         Quarterly Financial Information                     HTML    262K 
45: R28         Guarantor and Non-Guarantor Subsidiaries Financial  HTML   4.28M 
                Information                                                      
46: R29         Schedule II - Valuation and Qualifying Accounts     HTML    153K 
47: R30         Summary of Significant Accounting Policies          HTML    159K 
                (Policies)                                                       
48: R31         Comprehensive Income (Loss) (Tables)                HTML    104K 
49: R32         Property, Plant and Equipment (Tables)              HTML     71K 
50: R33         Goodwill and Intangible Assets (Tables)             HTML    186K 
51: R34         Debt (Tables)                                       HTML     81K 
52: R35         Income Taxes (Tables)                               HTML    267K 
53: R36         Restructuring (Tables)                              HTML    119K 
54: R37         Share-Based Compensation Plans (Tables)             HTML    163K 
55: R38         Commitments and Contingencies (Tables)              HTML     51K 
56: R39         Segment Information (Tables)                        HTML    251K 
57: R40         Fair Value Measurements (Tables)                    HTML    133K 
58: R41         Quarterly Financial Information (Tables)            HTML    260K 
59: R42         Guarantor and Non-Guarantor Subsidiaries Financial  HTML   4.29M 
                Information (Tables)                                             
60: R43         Description of Business - Additional Information    HTML     42K 
                (Detail)                                                         
61: R44         Summary of Significant Accounting Policies -        HTML     58K 
                Additional Information (Detail)                                  
62: R45         Comprehensive Income (Loss) - Schedule of           HTML     52K 
                Accumulated Other Comprehensive Loss (Detail)                    
63: R46         Comprehensive Income (Loss) - Schedule of           HTML     36K 
                Accumulated Other Comprehensive Loss                             
                (Parenthetical) (Detail)                                         
64: R47         Property, Plant and Equipment - Schedule of         HTML     54K 
                Property, Plant and Equipment (Detail)                           
65: R48         Property, Plant and Equipment - Additional          HTML     34K 
                Information (Detail)                                             
66: R49         Goodwill and Intangible Assets - Changes in         HTML     47K 
                Goodwill for Each Reportable Segment (Detail)                    
67: R50         Goodwill and Intangible Assets - Schedule of        HTML     60K 
                Intangible Assets (Detail)                                       
68: R51         Goodwill and Intangible Assets - Expected           HTML     48K 
                Amortization of Intangible Assets (Detail)                       
69: R52         Debt - Long-term Debt (Detail)                      HTML     62K 
70: R53         Debt - Long-term Debt (Parenthetical) (Detail)      HTML    126K 
71: R54         Debt - Debt Redemptions - Additional Information    HTML     59K 
                (Detail)                                                         
72: R55         Debt - Open Market Purchases - Additional           HTML     42K 
                Information (Detail)                                             
73: R56         Debt - Notes Offering - Additional Information      HTML     45K 
                (Detail)                                                         
74: R57         Debt - 2014 Debt Refinancing - Additional           HTML     67K 
                Information (Detail)                                             
75: R58         Debt - Interest Rates - Additional Information      HTML     55K 
                (Detail)                                                         
76: R59         Debt - Additional Information (Detail)              HTML     56K 
77: R60         Income Taxes - Schedule of Domestic and Foreign     HTML     43K 
                Pretax (Loss) Income from Continuing Operations                  
                (Detail)                                                         
78: R61         Income Taxes - Current and Deferred Income Taxes    HTML     59K 
                (Detail)                                                         
79: R62         Income Taxes - Current and Deferred Income Taxes    HTML     33K 
                (Parenthetical) (Detail)                                         
80: R63         Income Taxes - Additional Information (Detail)      HTML     65K 
81: R64         Income Taxes - Differences between U.S. Federal     HTML     61K 
                Statutory Income Tax Rate of 35% and Income Taxes                
                Provided (Detail)                                                
82: R65         Income Taxes - Significant Components of Company's  HTML     67K 
                Net Deferred Tax Assets/(Liabilities) (Detail)                   
83: R66         Income Taxes - Reconciliation of Unrecognized Tax   HTML     42K 
                Benefits Including Interest and Penalties (Detail)               
84: R67         Employee Benefit Plans - Additional Information     HTML     45K 
                (Detail)                                                         
85: R68         Restructuring - Additional Information (Detail)     HTML     53K 
86: R69         Restructuring - Summary of Restructuring Activity   HTML     46K 
                (Detail)                                                         
87: R70         Restructuring - Summary of Charges in Consolidated  HTML     39K 
                Statement of Operations (Detail)                                 
88: R71         Share-Based Compensation Plans - Additional         HTML     74K 
                Information (Detail)                                             
89: R72         Share-Based Compensation Plans - Summary of         HTML     83K 
                Company's Share Awards (Detail)                                  
90: R73         Related Party Transactions - Additional             HTML     63K 
                Information (Detail)                                             
91: R74         Commitments and Contingencies - Additional          HTML     52K 
                Information (Detail)                                             
92: R75         Commitments and Contingencies - Future Minimum      HTML     51K 
                Payments Under Non-Cancelable Operating Leases                   
                (Net of Sublease Income) (Detail)                                
93: R76         Derivative Financial Instruments - Additional       HTML     38K 
                Information (Detail)                                             
94: R77         Segment Information - Additional Information        HTML     44K 
                (Detail)                                                         
95: R78         Segment Information - Schedule of Segment           HTML     74K 
                Information (Detail)                                             
96: R79         Segment Information - Long-Lived Assets and         HTML     51K 
                Revenue by Geographical Areas (Detail)                           
97: R80         Additional Financial Information - Additional       HTML     36K 
                Information (Detail)                                             
98: R81         Fair Value Measurements - Schedule of Fair Value    HTML     41K 
                of Financial Instruments (Detail)                                
99: R82         Fair Value Measurements - Reconciliation of Net     HTML     41K 
                Liabilities Classified as Level 3 (Detail)                       
100: R83         Fair Value Measurements - Additional Information    HTML     36K  
                (Detail)                                                         
101: R84         Subsequent Events - Additional Information          HTML    137K  
                (Detail)                                                         
102: R85         Quarterly Financial Information - Quarterly         HTML     87K  
                Information (Detail)                                             
103: R86         Quarterly Financial Information - Quarterly         HTML     37K  
                Information (Parenthetical) (Detail)                             
104: R87         Guarantor and Non-Guarantor Subsidiaries Financial  HTML     53K  
                Information - Additional Information (Detail)                    
105: R88         Guarantor and Non-Guarantor Subsidiaries Financial  HTML    203K  
                Information - Consolidating Balance Sheet (Detail)               
106: R89         Guarantor and Non-Guarantor Subsidiaries Financial  HTML    158K  
                Information - Consolidating Statement of                         
                Operations (Detail)                                              
107: R90         Guarantor and Non-Guarantor Subsidiaries Financial  HTML     99K  
                Information - Consolidating Statement of                         
                Comprehensive Income (Detail)                                    
108: R91         Guarantor and Non-Guarantor Subsidiaries Financial  HTML    301K  
                Information - Consolidating Statement of Cash                    
                Flows (Detail)                                                   
109: R92         Guarantor And Non-Guarantor Subsidiaries Financial  HTML     46K  
                Information - Consolidating Statement of Cash                    
                Flows (Parenthetical) (Detail)                                   
110: R93         Valuation and Qualifying Accounts (Detail)          HTML     52K  
112: XML         IDEA XML File -- Filing Summary                      XML    203K  
111: EXCEL       IDEA Workbook of Financial Reports                  XLSX    147K  
12: EX-101.INS  XBRL Instance -- wmg-20160930                        XML  14.10M 
14: EX-101.CAL  XBRL Calculations -- wmg-20160930_cal                XML    274K 
15: EX-101.DEF  XBRL Definitions -- wmg-20160930_def                 XML    947K 
16: EX-101.LAB  XBRL Labels -- wmg-20160930_lab                      XML   1.40M 
17: EX-101.PRE  XBRL Presentations -- wmg-20160930_pre               XML   1.39M 
13: EX-101.SCH  XBRL Schema -- wmg-20160930                          XSD    218K 
113: ZIP         XBRL Zipped Folder -- 0001564590-16-029963-xbrl      Zip    375K  


‘EX-10.17’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 <!   C: 

 

Exhibit 10.17

 

WARNER MUSIC INC.

1633 Broadway

New York, NY 10019

 

December 2, 2016

 

Stuart Bergen

Address on file with Company

 

Dear Stuart:

 

Please refer to the at-will letter agreement between Warner Music Inc. (“Company”) and you dated December 21, 2012, as amended by the letter agreements dated December 19, 2013 and November 30, 2015 (as so amended, the “Agreement”).

This letter, when signed by you and countersigned by Company (the “Amendment Date”), shall constitute our agreement to amend the Agreement as set forth herein.  Unless otherwise indicated, capitalized terms shall have the meanings set forth in the Agreement.

Paragraph 2 of the Agreement is hereby amended to read as follows:

“2.Annual salary: $1,250,000 per year, effective October 1, 2016.  You will be paid in accordance with Company’s normal payroll practices.”

As soon as practicable following the Amendment Date, Company shall pay to you an amount equal to the difference between (a) the salary that would have been payable to you if your annual salary during the period from October 1, 2016 through the Amendment Date was $1,250,000 and (b) the salary actually paid to you for such period.

Except as expressly amended herein, the terms and provisions of the Agreement shall remain in full force and effect.

If the foregoing correctly sets forth our understanding, please sign below and return this letter to Company.

 

 

WARNER MUSIC INC.

 

 

By:

/s/ Trent N. Tappe

Name:

Trent N. Tappe

 

Accepted and Agreed:

 

/s/ Stuart Bergen

Stuart Bergen

 

 

MR 63388-2


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:12/8/168-K,  D
12/2/16
10/1/16
For Period end:9/30/16
11/30/15
12/19/13
12/21/128-K
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Filing Submission 0001564590-16-029963   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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