Exhibit 10.53
AMENDMENT TO AGREEMENT
*** Confidential treatment has been requested as to certain portions of this
agreement. Such omitted confidential information has been filed separately with
the Securities and Exchange Commission pursuant to Rule 24b-2 under the
Securities Exchange Act of 1934, as amended, and the Commission's rules and
regulations promulgated under the Freedom of Information Act, pursuant to a
request of confidential treatment.
This AMENDMENT TO AGREEMENT is entered into, effective as of the 30th day
of November 2000, by and between Senetek PLC ("Senetek") and Xxxx-Na-Bodhaige,
Inc. d/b/a The Body Shop ("The Body Shop");
WHEREAS, Senetek and The Body Shop entered into an Agreement dated May 26,
2000 (the "Agreement"); and
WHEREAS, Senetek and The Body Shop desire to amend the Agreement in terms
of minimum purchase requirements, license considerations and definition of
Territory;
NOW, THEREFORE, Senetek and The Body Shop hereby agree as follows:
Article 1.1 is amended to define "Territory" to include the United States,
Canada, Mexico and the Caribbean;
Article 2.3 of the Agreement is hereby amended to read in full as follows:
"The Body Shop shall order a minimum of "*Filed Separately with the
Commission*"Units of licensed Products during the first two-year contract
period. If The Body Shop fails to meet this minimum order requirement
during the first two-year contract period, then the Exclusivity Commitment
shall terminate for the remaining balance of the Term and Senetek may
terminate this Agreement at any time upon not less than 180 days written
notice to The Body Shop. Senetek and The Body Shop shall agree on
reasonable minimum purchase requirements for each subsequent year of the
Term following the first two-year period."
Article 3.2 of the Agreement is hereby amended to read in full as follows:
"In consideration of the exclusive license and rights set forth in this
Agreement The Body Shop agrees that as Senetek's role compensation from The
Body Shop, Senetek shall receive a royalty payment of "*Filed Separately
with the Commission*"of the suggested retail price charged by The Body Shop
for any licensed Products sold ("Royalty Payment"). In no event shall the
Royalty Payment be less than "*Filed Separately with the Commission*"per
unit, with the exception of the customer introductory kit, "*Filed
Separately with the Commission*". Royalty Payments are payable when
licensed Products are shipped from the manufacturer to The Body Shop.
"*Filed Separately with the Commission*""
IN WITNESS WHEREOF, Senetek and The Body Shop have executed this Amendment
to Agreement as of the day and year first above written.
1
SENETEK PLC.
By /s/ Xxxxx X. Xxxxxxx
-------------------------------------
XXXX-NA-BODHAIGE, INC.
By: /s/ X. Xxxxxxxx
------------------------------------
2
