Exhibit 10.21
January 12, 2000
Xxxxxxx Xxxxxx, President/CEO
Caraloe Incorporated
0000 Xxxxxx Xxxx Xxxx
Xxxxxx, Xxxxx 00000
RE: Letter of Agreement Extending Trademark License Agreement and
Supply Agreement
Dear Xx. Xxxxxx:
This will confirm our understanding in principle related to the
extension of the respective Agreements as attached hereto as Exhibit
"A" - "Supply Agreement" and Exhibit "B" - "Trademark License
Agreement", (collectively the "Agreements") executed by and between
Mannatech[TM] Incorporated ("Mannatech") and Caraloe, Incorporated
("Caraloe") on August 14 1997, (hereinafter collectively, the
"Parties") both Agreements to be incorporated by reference as part of
this Agreement. It is the intent of the Parties hereto that the
Agreements shall remain in full force and effect with the exception of
that which the Parties desire to incorporate as additional terms and
conditions ("Terms and Conditions") as outlined herein.
The term of the Agreements shall be extended for a two (2) year
period, commencing August 14, 2000 and ending August 14, 2002.
Mannatech agrees to purchase from Caraloe, and Xxxxxxx agrees to
manufacture and sell to Mannatech, Manapol[R] not less than 600
kilograms per month, but in any event not more than as indicated on the
attached Exhibits as attached hereto, Exhibit "C" - "2000 Manapol Usage
Forecast" and Exhibit "D" - "2001 Manapol Usage Forecast" (collectively
the "Forecasts") unless Mannatech shall notify Caraloe to the contrary
in accordance with the requirements of the Agreement set forth in
Exhibit B. In the event Mannatech anticipates or requires more
Manapol[R] than as specified in the Forecasts, Mannatech shall afford
Caraloe ninety (90) days written notice thereof.
The Parties further agree that Exhibit A as attached to the
Trademark Licensing Agreement shall be amended to include Argentina,
Brazil and Chile and other countries as anticipated as indicated and
attached hereto as "Exhibit "E" - "Amended Exhibit A".
If the foregoing terms and conditions are agreeable to you, please
execute and return a duplicate of the original of the letter, such to
constitute the agreement between us.
Very Truly Yours,
MANNATECH INCORPORATED
/s/ Xxxxxxx X. Xxxxxxxx
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Chief Executive Officer
ACCEPTED AND AGREED:
Caraloe Incorporated
By: /s/ Xxxxxxx Xxxxxx
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Its: President and Chief Executive Officer
