Lindblad Expeditions expands National Geographic brand license through 2040 with exclusivity and growth commitments

LINDBLAD EXPEDITIONS HOLDINGS, INC.

New Brand License Agreement replaces 2011 Alliance and Tour Operator agreements effective Jan 1, 2024.
Exclusive license for co-branded expedition cruises on ships <295 passengers in US/Canada; path to global exclusivity.
Royalty fees based on performance, minimum growth guarantees for revenue and available guest nights; fleet modernization required.
NatGeo can terminate if growth/capacity targets missed or change of control; Lindblad can renegotiate if NatGeo leaves Disney.
Term extends to 2040; includes joint marketing fund and collaboration on science, conservation, education and photography.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LINDBLAD EXPEDITIONS HOLDINGS, INC. entered into Brand License Agreement with National Geographic Partners, LLC (effective 2023-11-14).

Action: entry
Agreement: license
Counterparty: National Geographic Partners, LLC
Effective: 2023-11-14

Exact text from the filing

On November 14, 2023, a subsidiary of Lindblad Expeditions Holdings, Inc., Lindblad Expeditions, LLC (the “ Company ”), entered into a Brand License Agreement (the “ Agreement ”) with National Geographic Partners, LLC (“ National Geographic ”) through 2040

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LINDBLAD EXPEDITIONS HOLDINGS, INC. terminated Alliance and License Agreement with National Geographic Partners, LLC (effective 2011-12-12).

Action: termination
Agreement: license
Counterparty: National Geographic Partners, LLC
Effective: 2011-12-12

Exact text from the filing

The Agreement will replace the Alliance and License Agreement and the Tour Operator Agreement, each dated as of December 12, 2011, as amended, between the Company and National Geographic (the “ Existing Agreements ”), which are to be terminated in relation to departure dates commencing January 1, 2024

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LINDBLAD EXPEDITIONS HOLDINGS, INC. terminated Tour Operator Agreement with National Geographic Partners, LLC (effective 2011-12-12).

Action: termination
Agreement: license
Counterparty: National Geographic Partners, LLC
Effective: 2011-12-12

Exact text from the filing

The Agreement will replace the Alliance and License Agreement and the Tour Operator Agreement, each dated as of December 12, 2011, as amended, between the Company and National Geographic (the “ Existing Agreements ”), which are to be terminated in relation to departure dates commencing January 1, 2024

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-118426

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