ADDENDUM TO LICENSING AGREEMENT
Addendum to Licensing Agreement between Venitech, LLC and
Community Alliance, Inc. dated February 6, 2008.
WHEREAS, Article 3, of the License Agreement, LICENSE FEE,
presently reads as follows:
ARTICLE 3
LICENSE FEE
For the grant of the License and the use of the Intellectual
Property, Trade Marks, Copyrighted Material, Business Concept and Know-
How as described herein, and the Territory as described herein,
Licensee agrees to pay to Licensor a License fee of Twenty Thousand
Dollars ($20,000.00). Ten Thousand Dollars ($10,000.00) to be paid on
or before 90 days of the signing of this Agreement another ten thousand
dollars ($10,000.00) will be paid on or before 190 days from the
signing of this agreement. In addition, Venitech, LLC shall receive
twenty percent (20%) of the net profit of sales generated by the
selling of advertising space on the school folders in the Territory.
All payments to be paid to Licensor pursuant to this Agreement
shall be sent or delivered to Licensor at its notice address as
hereinafter specified and shall be in United States currency.
Any payment not mailed by certified mail by licensee or otherwise
delivered to licensor on or before the date by which that payment is to
be paid shall be delinquent and overdue and shall be cause to revoke
this Agreement under terms described herein.
PARAGRAPH 3 - LICENSE FEE -is hereby amended to read:
For the grant of the License and the use of the Intellectual
Property, Trade Marks, Copyrighted Material, Business Concept and Know-
How as described herein, and the Territory as described herein,
Licensee agrees to pay to Licensor a License fee of Ten Thousand
Dollars ($10,000.00) on or before 90 days from the signing of the
Agreement.
In addition, Venitech, LLC shall receive twenty five percent
(25%) of the net profit of sales generated by the selling of
advertising space on the school folders in the Territory, until an
amount of $10,000 has been paid and thereafter Venitech, LLC shall
receive a total of 20% of net profit received on advertising space
sold.
All payments to be paid to Licensor pursuant to this Agreement
shall be sent or delivered to Licensor at its notice address as
hereinafter specified and shall be in United States currency.
Any payment not mailed by certified mail by licensee or otherwise
delivered to licensor on or before the date by which that payment is to
be paid shall be delinquent and overdue and shall be cause to revoke
this Agreement under terms described herein.
This addendum to the above named License Agreement is entered
into by the Parties on this the 28 day of July, 2008.
Venitech, LLC
By: /s/Xxxx Daily
--------------------------
Xxxx Daily - Director
Fresh Ideas Media, Inc.
By: /s/Xxxx X. Xxx
--------------------------
Xxxx X. Xxx - President
