May 26, 1998 Peaches Entertainment Corporation 1180 East Hallandale Beach Boulevard Hallandale, FL 33009 Gentlemen: It is the purpose of this letter agreement to confirm that, in consideration of the benefit expected to accrue to URT Industries, Inc....Urt Industries Inc • July 13th, 1998 • Retail-record & prerecorded tape stores
It is the purpose of this letter agreement to confirm that, in consideration of the benefit expected to accrue to URT Industries, Inc. ("URT"), by amending, in the manner described below, the agreement dated January 1, 1996 between URT and its subsidiary, Peaches Entertainment Corporation ("PEC"), pertaining to the services of Allan Wolk (the "Intercorporate Agreement"), as previously amended pursuant to the letter agreement dated March 17, 1997 between URT and PEC, URT agrees that with respect to the three month period beginning January 1, 1998 and ending March 28, 1998, the salary payable by PEC to Allan Wolk pursuant to the Intercorporate Agreement, as so amended, shall be and is hereby further reduced from a rate of Four Hundred Thousand Dollars ($400,000) per annum to a rate of Three Hundred Thousand Dollars ($300,000) per annum. Other than as set forth immediately above, the Intercorporate Agreement shall remain in full force and effect.
ARTICLE IIndemnification Agreement • April 28th, 1997 • Urt Industries Inc • Retail-record & prerecorded tape stores • Florida
EXHIBIT 10.6 STOCK ACQUISITION AGREEMENT AGREEMENT dated this 22nd day of July, 1998 between URT Industries, Inc. (the "Corporation"), whose address is 1180 East Hallandale Beach Boulevard, Hallandale, Florida 33009, and Brian Wolk ("Wolk"), with an...Stock Acquisition Agreement • July 26th, 1999 • Urt Industries Inc • Retail-record & prerecorded tape stores • Florida
EXHIBIT 10.11 LOAN FORGIVENESS AGREEMENT AGREEMENT dated as of the 29th day of November, 1997 between URT INDUSTRIES, INC. ("URT"), a Florida corporation with offices at 1180 East Hallandale Beach Boulevard, Hallandale, Florida 33009, and PEACHES...Loan Forgiveness Agreement • July 26th, 1999 • Urt Industries Inc • Retail-record & prerecorded tape stores
January 1, 1996 URT Industries, Inc. 3451 Executive Way Miramar, FL 33025 Gentlemen: I understand that URT is simultaneously entering into a letter agreement dated January 1, 1996 (the "Intercorporate Agreement") with its subsidiary, Peaches...Intercorporate Agreement • April 28th, 1997 • Urt Industries Inc • Retail-record & prerecorded tape stores
July 9, 1999 Peaches Entertainment Corporation 1180 East Hallandale Boulevard Hallandale, FL 33009 Gentlemen: It is the purpose of this letter to confirm our agreement that URT Industries, Inc. ("URT") agrees that the salary payable by Peaches...Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
It is the purpose of this letter to confirm our agreement that URT Industries, Inc. ("URT") agrees that the salary payable by Peaches Entertainment Corporation ("PEC"), to Allan Wolk, pertaining to the services of Allan Wolk, pursuant to the agreement dated January 1, 1996 between URT and PEC, as such agreement has previously been amended (the "Intercorporate Agreement"), shall be $20,833.33 per month ($250,000 per annum), for a period of three months effective January 1, 1999 and continuing until April 3, 1999. Other than as set forth immediately above, the Intercorporate Agreement shall remain in full force and effect.
January 1, 1996 Peaches Entertainment Corporation 3451 Executive Way Miramar, FL 33025 Gentlemen: It is the purpose of this letter to confirm the following agreement between our two companies, URT Industries, Inc. ("URT") and Peaches Entertainment...Management and Intercorporate Agreement • April 28th, 1997 • Urt Industries Inc • Retail-record & prerecorded tape stores
March 17, 1997 Peaches Entertainment Corporation 1180 East Hallandale Boulevard Hallandale, FL 33009 Gentlemen: It is the purpose of this letter agreement to confirm that, in consideration of the benefit expected to accrue to URT Industries, Inc....Urt Industries Inc • July 13th, 1998 • Retail-record & prerecorded tape stores
It is the purpose of this letter agreement to confirm that, in consideration of the benefit expected to accrue to URT Industries, Inc. ("URT"), by amending, in the manner described below, the agreement dated January 1, 1996 between URT and its subsidiary, Peaches Entertainment Corporation ("PEC"), pertaining to the services of Allan Wolk (the "Intercorporate Agreement"), URT agrees that the salary payable by PEC to Allan Wolk pursuant to the Intercorporate Agreement shall be and is hereby reduced from Five Hundred Thousand Dollars ($500,000) per annum to Four Hundred Thousand Dollars ($400,000) per annum for a period of two years effective March 1, 1997 and continuing until February 28, 1999. Other than as set forth immediately above, the Intercorporate Agreement shall remain in full force and effect.
As of October 1, 1997Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
January 1, 1996 Peaches Entertainment Corporation 3451 Executive Way Miramar, FL 33025 Gentlemen: It is the purpose of this letter agreement to confirm that for the period from January 1, 1995 through March 31, 2000, URT Industries, Inc. ("URT") will...Urt Industries Inc • April 28th, 1997 • Retail-record & prerecorded tape stores
October 27, 2000 URT Industries, Inc. 1180 East Hallandale Beach Blvd. Hallandale, FL 33009 Gentlemen: It is the purpose of this letter to confirm our understanding with respect to the Amended and Restated Employment Agreement, dated as of October 1,...Urt Industries Inc • November 22nd, 2000 • Retail-record & prerecorded tape stores
Allan Wolk c/o URT Industries, Inc. 1180 East Hallandale Beach Blvd. Hallandale, Florida 33009Urt Industries Inc • November 22nd, 2000 • Retail-record & prerecorded tape stores
Allan Wolk c/o URT Industries, Inc. 1180 East Hallandale Beach Blvd. Hallandale, Florida 33009Urt Industries Inc • November 22nd, 2000 • Retail-record & prerecorded tape stores
May 26, 1998 Mr. Allan Wolk 1180 East Hallandale Beach Boulevard Hallandale, FL 33009 Dear Mr. Wolk: It is the purpose of this letter to confirm our agreement to further amend the Amended and Restated Employment Agreement, dated as of the first day of...Urt Industries Inc • July 13th, 1998 • Retail-record & prerecorded tape stores
December 23, 1998 Mr. Allan Wolk 1180 East Hallandale Beach Boulevard Hallandale, FL 33009 Dear Mr. Wolk: It is the purpose of this letter to confirm our agreement to further amend the Amended and Restated Employment Agreement, dated as of the first...Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
It is the purpose of this letter to confirm our agreement to further amend the Amended and Restated Employment Agreement, dated as of the first day of October, 1994 (the "Employment Agreement"), between URT Industries, Inc. ("URT"), and yourself ("Employee"), as previously amended, in the manner described below:
June 12, 2000 Peaches Entertainment Corporation 1180 East Hallandale Beach Blvd. Hallandale, FL 33009 Gentlemen: It is the purpose of this letter agreement between URT Industries, Inc. ("URT") and Peaches Entertainment Corporation ("PEC") to confirm...Urt Industries Inc • November 22nd, 2000 • Retail-record & prerecorded tape stores
It is the purpose of this letter agreement between URT Industries, Inc. ("URT") and Peaches Entertainment Corporation ("PEC") to confirm that, in consideration of the benefit which would be expected to accrue to URT, URT hereby agrees that, in the event that PEC's auditor, Rachlin Cohen & Holtz LLP, issues an opinion with respect to its financial statements for the year ended April 1, 2000 which is unqualified (i.e., in the same form as the opinion issued with respect to the year ended April 3, 1999), and if funds generated from the operations of PEC, and the proceeds of debt financing, are insufficient to meet PEC's current projected operating requirements during the one year period ending April 1, 2001, then URT will take any necessary action to see that funds are available to cover any such shortfall up to April 1, 2001.
EXHIBIT 10.12 [Letterhead of URT Industries, Inc.] December 23, 1998 Peaches Entertainment Corporation 1180 East Hallandale Boulevard Hallandale, FL 33009 Gentlemen: It is the purpose of this letter to confirm our agreement that URT Industries, Inc....Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
It is the purpose of this letter to confirm our agreement that URT Industries, Inc. ("URT") agrees that the salary payable by Peaches Entertainment Corporation ("PEC"), to Allan Wolk, pertaining to the services of Allan Wolk, pursuant to the agreement dated January 1, 1996 between URT and PEC, as such agreement has previously been amended (the "Intercorporate Agreement"), shall be $20,833.33 per month ($250,000 per annum), for a period of nine months effective April 1, 1998 and continuing until December 31, 1998. Other than as set forth immediately above, the Intercorporate Agreement shall remain in full force and effect.
July 10, 2000 Mr. Allan Wolk 1180 East Hallandale Beach Boulevard Hallandale, FL 33009 Dear Mr. Wolk: It is the purpose of this letter to confirm our agreement to further amend the Amended and Restated Employment Agreement, dated as of the first day...Urt Industries Inc • November 22nd, 2000 • Retail-record & prerecorded tape stores
It is the purpose of this letter to confirm our agreement to further amend the Amended and Restated Employment Agreement, dated as of the first day of October, 1994 (the "Employment Agreement"), between URT Industries, Inc. ("URT"), and yourself ("Employee"), as previously amended, in the manner described below:
May 28, 1999 Peaches Entertainment Corporation 1180 East Hallandale Beach Blvd. Hallandale, FL 33009 Gentlemen: It is the purpose of this letter agreement to confirm that, in consideration of the benefit which would be expected to accrue to URT...Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
It is the purpose of this letter agreement to confirm that, in consideration of the benefit which would be expected to accrue to URT Industries, Inc. ("URT"), URT hereby agrees that, in the event that funds generated from the operations of Peaches Entertainment Corporation ("PEC"), and the proceeds of debt financing, are insufficient to meet PEC's current projected operating requirements during the fiscal year period ending April 2, 2000, then URT will take any necessary action to see that funds are available to cover any such shortfall up to April 2, 2000.
Exhibit 10.5 [Letterhead of URT Industries, Inc.] July 9, 1998 Peaches Entertainment Corporation 1180 East Hallandale Beach Blvd. Hallandale, FL 33009 Gentlemen: It is the purpose of this letter agreement to confirm that, in consideration of the...Urt Industries Inc • July 13th, 1998 • Retail-record & prerecorded tape stores
It is the purpose of this letter agreement to confirm that, in consideration of the benefit which would be expected to accrue to URT Industries, Inc. ("URT"), URT hereby agrees that, in the event that funds generated from the operations of Peaches Entertainment Corporation ("PEC"), and the proceeds of any debt financing which may be obtained, are insufficient to meet PEC's current projected operating requirements during the fiscal year period ending April 3, 1999, then URT will take any necessary action to see that funds are available to cover any shortfalls up to April 3, 1999.
PROMISSORY NOTE --------------- Hallandale, Florida $275,000.00 April 19, 1999 ----------- ------------------- FOR VALUE RECEIVED, PEACHES ENTERTAINMENT CORPORATION ("Borrower"), a Florida corporation whose principal place of business is located at...Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores • Florida
EXHIBIT 10.10 FIRST ADDENDUM TO LEASE (Peaches Music & Video Store No. 7) AGREEMENT made and entered into this 30th day of September, 1998 by and between ALLAN WOLK and SHEFFIELD WOLK, with an address at 1180 East Hallandale Beach Boulevard,...Urt Industries Inc • July 26th, 1999 • Retail-record & prerecorded tape stores
EXHIBIT 10.62 January 1, 1996 It is the purpose of this letter agreement to confirm that for the period from January 1, 1995 through March 31, 2000, URT Industries, inc. ("URT") will provide to Peaches Entertainment Corporation ("PEC") the services of...Urt Industries Inc • February 14th, 1996 • Retail-record & prerecorded tape stores
October 1, 1997 Mr. Allan Wolk 1180 East Hallandale Beach Boulevard Hallandale, Florida 33009 Dear Mr. Wolk: It is the purpose of this letter to confirm our agreement to the amend the Amended and Restated Employment Agreement, dated as of the first...Urt Industries Inc • July 13th, 1998 • Retail-record & prerecorded tape stores
