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Exhibit 10.50
AMENDMENT
This AMENDMENT dated December 1, 1997 (the "Amendment") is to that Master
Development Agreement executed January 5, 1996 by and between Roadhouse Grill,
Inc. ("Company") and Roadhouse Grill Asia Pacific (Cayman) Limited
("Developer")(the "Development Agreement").
In consideration of the mutual covenants and consideration set forth herein, and
as authorized and directed by the Board of Directors of the Company by action of
November 18, 1997, it is hereby agreed:
1. Section 8.A. (2) of the Development Agreement is hereby amended to read as
follows:
(2) Forty percent (40%) of the royalty fee paid by each Third Party
Franchisee, due and payable within ten (10) days after the end of the
month in which the fee was received by Developer from each Third Party
Franchisee in the Territory; subject however, that the maximum royalty
fee due the Company shall not exceed two percent (2.0%) of gross sales
as defined in the Franchise Agreement.
2. Section 8.B.(2) of the Development Agreement is hereby amended to read as
follows:
(2) A royalty fee in the amount of two percent (2%) of gross sales as
defined in the Franchise Agreement, due and payable within ten (10) days
after the end of the month in which sales were made.
3. The amendments provided for herein shall be effective as of December 1,
1997.
4. Except as specifically provided in this Amendment, the terms of the
Development Agreement are ratified.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement in ___ counterparts on the day and year first above written.
DEVELOPER
ROADHOUSE GRILL ASIA PACIFIC (CAYMAN)
LIMITED., a Cayman Islands corporation
By: Witness:
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Title:
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COMPANY
ROADHOUSE GRILL, INC.
a Florida corporation
By: Witness:
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Title:
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