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Exhibit 10.18
FIRST ADDENDUM TO CONSULTING AGREEMENT
This First Addendum to Consulting Agreement is made and entered into
effective the 31st day of October 1996 (the "Effective Date"), by and between
Xxxxxxx X. Xxxxxxxxxxx ("Xx. Xxxxxxxxxxx") and Skyline Chili, Inc., an Ohio
corporation (the "Company").
WHEREAS, Xx. Xxxxxxxxxxx and the Company entered into a Consulting
Agreement dated August 31, 1994 (the "Consulting Agreement") pursuant to which
Xx. Xxxxxxxxxxx has been providing consulting services to the Company;
WHEREAS, the initial term of the Consulting Agreement expired on
October 30, 1996; and
WHEREAS, pursuant to Paragraph 9(a) of the Consulting Agreement, Xx.
Xxxxxxxxxxx and the Company have mutually agreed to renew the Consulting
Agreement for an additional one year term.
NOW THEREFORE, in consideration of the mutual promises, covenants and
conditions contained herein, Xx. Xxxxxxxxxxx and the Company agree as follows:
1. RENEWAL OF CONSULTING PERIOD. From the Effective Date through
October 26, 1997 (the "Consulting Period"), Xx. Xxxxxxxxxxx shall continue to
provide such Consulting Services as are reasonably requested by the Company. All
of the terms and conditions of the Consulting Agreement shall continue to apply
during this extended Consulting Period. The Company shall continue to maintain
the life insurance policy on Xx. Xxxxxxxxxxx' life in the amount of $250,000
from the Effective Date through October 26, 1997.
2. TERM OF FIRST ADDENDUM. Unless terminated on an earlier date or
renewed as provided in the Consulting Agreement, the extended term of the
Consulting Agreement and this First Addendum shall expire on October 26, 1997.
All references in the Consulting Agreement to its "initial term" shall now be
deemed references to the extended term described in this First Addendum as the
context requires.
3. MISCELLANEOUS. Except as modified in this First Addendum, all of the
terms and conditions of the Consulting Agreement shall remain in effect and are
hereby reaffirmed by the parties hereto. Capitalized terms used in this First
Addendum and not defined herein shall have the meanings ascribed to them in the
Consulting Agreement.
IN WITNESS WHEREOF, Xx. Xxxxxxxxxxx and the Company have signed this
First Addendum as of the Effective Date.
/s/ Xxxxxxx X. Xxxxxxxxxxx
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Xxxxxxx X. Xxxxxxxxxxx
SKYLINE CHILI, INC.
By: /s/ Xxxxx X. XxXxxxxxx
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Its: President, CEO
