We consider a decentralized supply chain with a manufacturer and a retailer in newsvendor setting, where the manufacturer faces the choice between the traditional single wholesale price contract and a two-price contract with emergency supply. In the traditional single wholesale price contract, the manufacturer sets the price and the retailer carries inventory. Due to long manufacturing/transportation lead times, the retailer must place orders well before the selling season. In the two-price contract with emergency supply, the manufacturer adds a backup supply by carrying emergency stock at its own warehouses. The retailer now has two ordering opportunities: order well before the season with guaranteed supply (regular supply), and order during the peak season to get immediate supply (emergency supply) but the stock availability depends on the amount of the emergency stock carried by the manufacturer. Because emergency stock incurs additional cost, we address the following issues for the manufacturer: (1) whether or not to provide the emergency supply? (2) How to set prices for the regular and emergency supplies? And (3) what happen to the overall supply chain profit? Our objective is to provide guidelines that can aid companies in decision making regarding emergency supply.