AMENDMENT NO. 11 TO TRADEMARK LICENSE AND TECHNICAL ASSISTANCE AGREEMENT COVERING MENS PRODUCTS
AMENDMENT
NO. 11
COVERING
MENS PRODUCTS
This
Amendment No. 11, dated May 9th,
2008,
is to the Trademark License and Technical Assistance Agreement dated the
15th
day
of
January 1998, by and between Latitude Licensing Corp. and I.C. Xxxxxx &
Company L.P., as previously amended by Amendment No. 1 on November 12, 1998,
Amendment No. 2 on June 21, 2000, Amendment No. 3 on May 31, 2001, Amendment
No.
4 on October 2, 2002, Amendment No. 5 on March 31, 2003, Amendment No. 6 on
October 29, 2003, Amendment No. 7 on December 16, 2004, Amendment No. 8 on
March
29, 2006, Amendment No. 9 on October 24, 2007 and Amendment No. 10 on March
12,
2008 (as amended, the “Agreement”). Capitalized terms used herein
have the meaning ascribed to them in the Agreement unless otherwise
indicated.
WHEREAS,
the
parties hereto wish to amend the Agreement to the extent set forth herein;
NOW,
THEREFORE,
for
good and valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, the parties hereto agree to amend the Agreement as
follows:
1. Section
5; Royalties.
Section
5.5
of the
Agreement is hereby amended by adding the following sentence immediately
following the last sentence thereof:
“Notwithstanding
anything contained in this Agreement to the contrary, the $250,000, $250,000,
$250,000, and $250,000 royalty payments due in the months of February, March,
April and May, 2008, respectively, shall be deferred to and be paid no later
than December 31, 2009, together with all principal and accrued interest
thereon. All deferred payments shall bear interest at the rate of 10% per
annum.”
2. Effective
Date.
This
Amendment No. 11 may be executed by facsimile and shall be effective as of
the
first date written above.
3. No
Defaults; Full Force and Effect; No Other Deferred Royalties.
The
parties hereby confirm to one another that neither party is in default to the
other in the performance of any of the obligations owed by either of them to
the
other. The Licensee represents to the Licensor that there are no outstanding
unpaid royalties (or interest thereon) under the Agreement other than those
deferred hereby. The Agreement, as amended by this Amendment No. 11, shall
continue in full force and effect.
IN
WITNESS WHEREOF, the
parties, by their authorized representatives, have executed this Amendment
No.
11 to the agreement as of the first date written above.
| LATITUDE LICENSING CORP. | |||||
|
By:
|
/s/ Xxxxx X. Xxxxxx | ||||
|
Name:
|
Xxxxx X. Xxxxxx | ||||
|
Title:
|
Secretary | ||||
| I.C. XXXXXX & COMPANY L.P. | ||||||
| By: I.C. Xxxxxx & Company, Inc., its General Partner | ||||||
|
By:
|
/s/ Xxxxxx X. Xxxx | |||||
|
Name:
|
Xxxxxx X. Xxxx | |||||
|
Title:
|
Chief Executive Officer | |||||
