Advertising Guidelines (Global)

1. The following are certain general terms and conditions governing advertising published in TIME magazine and affiliated websites on the world wide web of the Internet (the “web”). Except as otherwise noted, the information will apply to both TIME magazine (all editions–Asia, Canada, EMEA, SoPac, US) and the affiliated websites (either or both referred to herein from time to time as the “Publisher”).

2. Rates set forth herein are effective with the issue dated January 3, 2005. Announcement of any increase in rates will be made at least four weeks in advance of the issue date of the first issue to which such rates will be applicable (for TIME magazine) and in advance of the date by which such rates will be applicable (for the websites), except in cases where rates may be adjusted because of currency exchange fluctuations. If Publisher fails to deliver the number of impressions set forth in the applicable insertion order, Publisher will in its sole discretion and as Advertiser’s sole and exclusive remedy, either provide a “make good” by running Advertiser’s advertisements for a longer period of time until the number of impressions is met, or refund to Advertiser on a pro-rata basis the fees paid for any impressions not delivered by Publisher.

3. Publisher is a member of the Audit Bureau of Circulation.

4. Advertisers may not cancel orders for, or make changes in, advertising after the closing dates of TIME magazine, without express permission from TIME Advertising Production. For the websites, advertising orders shall be non-cancellable after the first date on which the advertising is scheduled to appear on the website and through the advertising period agreed to pursuant to the insertion order.

5. The Publisher is not responsible for errors or omissions in any advertising materials provided by the advertiser or its agency (including errors in key numbers) or for changes made after closing dates.

6. The Publisher may reject or cancel any advertising for any reason at any time. Advertisements simulating TIME magazines’ or websites’ editorial material in appearance or style or that are not immediately identifiable as advertisements are not acceptable. The websites reserve the right to reject or cancel any advertising and/or linkage to an advertiser’s website for any reason at any time, including without limitation, as a result of linkages to other websites included in the advertiser’s website.

7. All advertisements are accepted and published in TIME magazine (or made available on the websites) upon the representation by the agency and advertiser that they are authorized to publish the entire contents and subject matter thereof and that such publication (or availability) will not violate any law or infringe upon any right of any party. In consideration of the publication of advertisements (or placement of advertisements on the websites and any linkage to the advertiser’s website), the advertiser and agency will, jointly and severally, indemnify, defend, and hold harmless the Publisher from and against any and all losses and expenses (including, without limitation, attorney’s fees) arising out of the publication of such advertisements in TIME magazine (or appearance of such advertisements on the websites or on the advertiser’s website as linked through the website), including, without limitation, those arising from claims or suits for defamation, copyright or trademark infringement, misappropriation, violation of the Lanham Act or rights of privacy or publicity, or from any similar claims now known or hereafter devised or created.

8. It is understood that the advertiser and agency are jointly and severally liable for payment of all invoices for advertising published in TIME magazine or made available on the websites. In consideration of the Publisher’s reviewing for acceptance, or acceptance of, any advertising for publication in TIME magazine (or for placement on the websites, or any linkage to the advertiser’s website), the agency and advertiser agree not to make promotional or merchandising reference to TIME magazine or the websites in any way without the prior written permission of the Publisher in each instance.

9. No conditions, printed or otherwise, appearing on contracts, orders or copy instructions which conflict with, vary, or add to these terms and conditions will be binding on the Publisher. Publisher has the right to insert the advertising anywhere in TIME magazine or on the websites at its discretion, and any condition on contracts, orders or copy instructions involving the placement of advertising within an issue of TIME magazine (such as page location, competitive separation or placement facing editorial copy) or on the website will be treated as a positioning request only and cannot be guaranteed. The Publisher’s inability or failure to comply with any such condition shall not relieve the agency or advertiser of the obligation to pay for the advertising.

10. The Publisher shall not be subject to any liability whatsoever for any failure to publish or circulate all or any part of any issue or issues of TIME magazine (or for any failure to provide reference or access to all or any part of the advertising on the websites) because of strikes, work stoppages, accidents, fires, acts of God or any other circumstances not within the control of the Publisher. The Publisher shall not be subject to any liability whatsoever for any failure to provide reference or access to all or any part of the advertising on the websites due to systems failure or other technological failures of the website or the web.

11. A 5% margin must be allowed in the circulations of TIME magazine in all splits runs, regional, metro and demographic editions and in the distribution of insert cards and split runs.

12. Invoices are rendered on or about the on-sale date of TIME magazine or for the websites, the first date on which the advertising is scheduled to appear. Payments are due within 20 days from the date of invoice. All payments must be made in the currency stated on the invoice. All rates are quoted and payments due, free of all withholding, taxes and duties except taxes of the United States of America where applicable.

13. Premium charges for split runs, gatefolds and other special units are not commissionable and do not earn discounts.

Additional Advertising Guidelines (US)

1. Agency Commission (or equivalent): 15% of gross advertising charges to recognized agents.

2. All frequency and volume discounts must be used within six months after the end of the period in which they were earned. Unused discounts will expire six months after the end of the period in which they were earned.

3. TIME magazine is subject to the Time Inc. issue-by-issue tally (IBIT) pricing system.

4. For TIME’s US editon, original copies of the insertion order and space contracts are to be forwarded to TIME Magazine, US Production Department, 22nd Floor, Time & Life Building, 1271 Avenue of the Americas, New York, NY 10020.

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