Exhibit 10
ADMENDMENT of
RESCISSION and FUNDING AGREEMENT
between
CREATIVE EATERIES CORPORATION
a Nevada corporation
and
FRANCHISE CAPITAL CORPORATION
a Nevada corporation
This Amendment of the December 29, 2005 Rescission and Funding Agreement
("Agreement") by and between Franchise Capital Corporation ("FCC") and Creative
Eateries Corporation ("CEC") is made January 31, 2006 by and between FCC and
CEC.
Both FCC and CEC agree to the following changes in Section 2.3 of the
Agreement:
2.3 Failure to Pay. Payment of each funding payment promptly as scheduled
is crucial to the business of FCC, Kokopelli, and Xxxxxxxx. If CEC fails to pay
any funding installment due on the 25th a 10% penalty shall be added to the
amount past due, CEC shall forfeit all rights to any profit payments due under
Section 2.4 of this Agreement at the discretion of FCC, and FCC shall have no
obligation to pay any profit payments to CEC; provided however, that if CEC has
paid at least $300,000 in cash funding payments required under Section 2.2 of
this Agreement, CEC shall be entitled to receive 25% of any such profit
payments.
Executed as of the date first above written.
CREATIVE EATERIES CORPORATION
By: /s/ Xxxxx Xxxxxxxxx
-------------------------------------
Xxxxx Xxxxxxxxx, President & C.E.O.
FRANCHISE CAPITAL CORPORATION
By: /s/ Xxxxxx X. Xxxxxxx
-------------------------------------
Xxxxxx X. Xxxxxxx, Chairman & C.E.O.
