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EXHIBIT 10.23
LEISURE CONCEPTS INCORPORATED
January 22, 1999
Xx. Xxxxxxx Xxxxxx
Xxxxxxxxxxx, Xxxxx & Company
0000 Xxxxxxxxx Xxxx.
Xxxxx Xxxxxxx, XX 00000
Dear Xx. Xxxxxx:
This has reference to the World Championship Wrestling agreement
between World Championship Wrestling, Inc. ("Licensor") and Xxxxxxxxxxx, Xxxxx &
Company ("Licensee") dated February 27, 1998, covering the WCW/NWO Property
(hereinafter the "License Agreement"). The License Agreement is amended as
follows.
1. It is understood and agreed that Paragraph 2: Authorized Articles is hereby
revised in its entirety to read as follows:
"Authorized Articles: Knit shirts, tank tops, muscle shirts,
xxxxxx shirts, sweatshirts, long-sleeve
shirts, t-shirts, denim long and short
sleeve shirts, chambray long and short
sleeve shirts."
2. It is understood and agreed that Paragraph 6: Royalty Rate is hereby revised
in its entirety to read as follows:
"Royalty Rate: 10% Net Sales (knit shirts; tank tops;
muscle shirts; xxxxxx
shirts; sweatshirts;
long-sleeve shirts; and
t-shirts)
12% Net Sales (denim long and short
sleeve shirts; and chambray
long and short sleeve
shirts)"
Except as herein provided all terms and conditions of the License
Agreement remain in full force and effect. Please indicate your agreement with
the foregoing by signing where specified below and by returning all four copies
of this amendment to Xxxxxx Xxxxxx at the address below. A fully executed copy
will be returned to you in due course.
Accepted and Agreed to: Very truly yours,
Xxxxxxxxxxx, Xxxxx and Company World Championship
("Licensee") Wrestling, Inc.
("Licensor")
By: /s/ Xxxxx X. Xxxxxxx
By: /s/ Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx
President: and
Chief Executive Officer
LEISURE CONCEPTS INC.(R) 0000 XXXXXX XX XXX XXXXXXXX XXX XXXX, XX 00000
(000) 000-0000 - FAX (000) 000-0000
NEW YORK LONDON LOS ANGELES
