ADDENDUM TO MARKETING AGREEMENT
This Addendum is effective as of November 5, 1998 and shall be
considered a binding attachment to the October 5, 1996 Marketing Agreement by
and among Remedent USA, Inc. and Xxxx Xxxxx Xxxxxxxx.
In witness whereof, the parties agree as follows:
1. Both parties agree that expending a budget of US $1.5 million during
the first three years is not feasible. Item 2.1 of the Marketing Agreement is
hereby amended to state that the promotional budget should be proportional to
the number of stores in which distribution is achieved, and no minimum amount is
required to maintain the validity of the Marketing Agreement. Remedent agrees to
advertise the product once distribution justifies such advertising.
2. Both parties agree that long term testing of the product with a
large number of Dentists who monitor their patients is significantly more
valuable than clinical tests as described in 2.2 of the Marketing Agreement, and
substantially less expensive. The expenditure of $150,000 for clinical testing
is therefore no longer a requirement of the Marketing Agreement. Remedent agrees
however to aggressively continue to promote the product to the dental
professional community in order to gain the maximum amount of professional
dental endorsement.
As a shareholder of Remedent USA, Inc., Vrignaud feels that the above
modifications to the Marketing Agreement dated October 5, 1996, are in the best
interest of the company and himself as a shareholder.
BY Date
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Xxxx Xxxxx Xxxxxxxx
BY Date
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Xxxxxxx Xxxxxxx for Remedent USA, Inc.
