Exhibit 10.30
EXTENSION AGREEMENT
THIS AGREEMENT MADE the 4th day of April, 2002.
B E T W E E N:
WAL-MART CANADA CORP.
(hereinafter called the "Licensor")
OF THE FIRST PART
- and -
PCA PHOTO CORPORATION OF CANADA, INC.
(hereinafter called the "Licensee")
OF THE SECOND PART
- and -
PCA INTERNATIONAL, INC.
(hereinafter called the "Guarantor")
OF THE THIRD PART
WHEREAS:
1. Wal-Mart Canada Inc. (now the Licensor), the Licensee and the Guarantor
entered into a License Agreement dated the 9th day of February, 1996 as
amended by an agreement between all of them dated July 8, 1997 whereby the
Licensor and Licensee created the framework within which the Licensor may
License to the Licensee the right to operate a portrait studio within
certain of its stores (the "License Agreement");
2. Section 3.03 of the License Agreement provided that the Licensor has, in
accordance with the terms of that provision, the right to extend the term
of the License Agreement in respect of any Licensee's Business for two (2)
additional years;
3. The parties mutually agree that in respect of Wal-Mart Store #'s 3008 and
3023 the aforesaid extension right, for the purpose of this agreement only,
shall be three (3) years commencing from the date of expiration of the Term
in respect of such Stores;
4. The parties wish to enter into this Agreement to confirm the exercise of
such right of extension in accordance with the aforesaid section of the
License Agreement with respect to the Licensee's Business listed on
Schedule "A" attached hereto and forming a part of this Agreement.
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual
covenants, conditions and agreements herein contained, other good and valuable
consideration and the sum of Ten Dollars ($10.00) paid by each party to the
other (receipt and sufficiency of which are hereby acknowledged), the parties
hereto do hereby covenant and agree, each with the other, as follows:
1. Unless otherwise defined in this Agreement, the capitalized terms used in
this Agreement shall have the same meaning ascribed to them in the License
Agreement. The parties acknowledge and agree that the above recitals are
true and correct.
2
2. The parties acknowledge and agree that the Licensor has extended the Term
in respect of the Licensee's Businesses in respect of those Stores listed
on Schedule "A" attached hereto and forming a part of this Agreement, in
accordance with the provisions of section 3.03 of the License Agreement for
such periods as are specified in the aforesaid Schedule "A."
IN WITNESS WHEREOF the parties have executed this Agreement this 4th day of
April, 2002, with effect as of the date hereinabove set forth.
WAL-MART CANADA CORP.
Per: /s/ Xxxx Xxxxxxxxxx c/s
----------------------------------------------
Xxxx Xxxxxxxxxx - Vice President - Store Development
PCA PHOTO CORPORATION OF CANADA, INC.
Per: /s/ Xxxxx X. Xxxx c/s
----------------------------------------------
Xxxxx X. Xxxx - Chairman and CEO
PCA INTERNATIONAL, INC.
Per: /s/ Xxxxx X. Xxxx c/s
----------------------------------------------
Xxxxx X. Xxxx - Chairman and CEO
SCHEDULE "A"
WAL-MART CANADA CORP
PCA CORPORATION OF CANADA CORP
Wal-Mart Wal-Mart Store Commencement License License Renew Expire / Renewal
Store # Name Date Expire (5yrs) (2yrs)
3008 BURNABY, B.C. 22-Apr-96 21-Apr-01 22-Apr-01 21-Apr-04
0000 XXXXXXXXXXXXX, XXXXXX 22-Apr-96 21-Apr-01 22-Apr-01 21-Apr-04
3081 SACKVILLE N.S. 00-Xxx-00 00-Xxx-00 00-Xxx-00 00-Xxx-00
0000 XXXXXXXX, X.X. 22-Feb-97 21-Feb-02 22-Feb-02 21-Feb-04
3000 AGINCOURT 5-Mar-97 4-Mar-02 5-Mar-02 3-Mar-04
0000 XXXXXX XXXXX, XXX. 19-Apr-97 18-Apr-02 19-Apr-02 17-Apr-02
3004 BRANDON, MANITOBA 30-Apr-97 29-Apr-02 30-Apr-02 28-Apr-04
0000 XXXXXXXX, XX VITAL 4-May-97 3-May-02 4-May-02 2-May-04
3127 ANCASTER, ON 17-May-97 16-May-02 17-May-02 15-May-04
3028 EDMONTON, LONDONDERRY 7-Jun-97 6-Jun-02 7-Jun-02 5-Jun-04
0000 XX. XXXXX, XX 27-Jun-97 26-Jun-02 27-Jun-02 25-Jun-04
3134 KANATA, ONT. 7-Jul-97 6-Jul-02 7-Jul-02 5-Jul-04
0000 XXXXXXXX, XXXXXX 21-Jul-97 20-Jul-02 20-Jul-02 19-Jul-04
0000 XXXXXXXX, XXX. 1-Aug-97 31-Jul-02 1-Aug-02 30-Jul-04
3066 OTTAWA, LINCOLN FIELDS 14-Aug-97 13-Aug-02 14-Aug-02 13-Aug-04
3033 GANDER, NFLD 18-Aug-97 17-Aug-02 18-Aug-02 17-Aug-04
3012 CALGARY, MARLBOROUGH 24-Aug-97 23-Aug-02 24-Aug-02 23-Aug-04
3084 SASKATOON, WILDWOOD 20-Sep-97 19-Sep-02 20-Sep-02 19-Sep-04
0000 XXXXXXXX, XXXXXX 25-Sep-97 24-Sep-02 25-Sep-02 24-Sep-04
0000 XXXXXX XXXXXXX, XX 26-Sep-97 25-Sep-02 26-Sep-02 25-Sep-04
0000 XXXXX, XX 26-Sep-97 25-Sep-02 26-Sep-02 00-Xxx-00
0000 XXXXXXXX XXX, XX 26-Sep-97 25-Sep-02 26-Sep-02 25-Sep-04
3137 STE HYACINTHE 27-Sep-97 26-Sep-02 27-Sep-02 26-Sep-04
0000 XXXXX-XXXXXXX, XX 29-Sep-97 28-Sep-02 29-Sep-02 28-Sep-04
3142 ORANGEVILLE, ONT. 31-Oct-97 30-Oct-02 31-Oct-02 30-Oct-04
0000 XXXX, XX 31-Oct-97 30-Oct-02 31-Oct-02 30-Oct-04
3145 VAUGHAN, ONT 31-Oct-97 30-Oct-02 31-Oct-02 30-Oct-04
0000 XXX. XXX, XX 31-Oct-97 30-Oct-02 31-Oct-02 30-Oct-04
