EXHIBIT 10.56
Amendment No. 1 To
Trademark License And Technical Assistance Agreement
This is Amendment No. 1 to the Trademark License and Technical
Assistance Agreement dated November 1, 1997 by and between Latitude Licensing
Corp. ("Licensor") and I.C. Xxxxxx & Co. L.P. covering men's Products (the
"Agreement"). Capitalized terms used herein have the meaning ascribed to them in
the Agreement unless otherwise indicated.
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. The parties hereby acknowledge the Girbaud Design, Inc. has assigned the
Agreement to Latitude Licensing Corp.
2. Paragraph 1.1(a) is amended to include the following sentence at the end of
the paragraph and as a part thereof.
Products authorized by this Agreement shall include tops and
bottoms which incorporate active influences in terms of
silhouettes, fabrics, details and other technical influences as
adapted to Xxxx wear and Casual wear, including but not limited
to products such as tee-shirts, polo shirts, sweat shirts, sweat
pants, coats, and trousers.
3. Paragraph 2.1 of the Agreement is hereby amended by the addition of the
following sentence at the end of that paragraph:
In addition Licensee shall have the option to renew this
agreement for an additional term of five years commencing on
January 1, 2003 and ending on December 31, 2007.
4. Paragraph 5.2 of the Agreement is hereby amended by adding the following to
the Minimum Royalties table set forth therein:
2003 $3,000,000
2004 $3,000,000
2005 $3,000,000
2006 $3,000,000
2007 $3,000,000
5. Except as expressly modified herein, the terms of the Agreement remain in
effect.
6. This Amendment is effective as of March 1, 1998.
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LATITUDE LICENSING CORP.
By: /S/ Xxxxx Girbaud
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Title:
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Date: 3/4/98
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I.C. XXXXXX & CO., L.P.
By: I.C. XXXXXX & CO., INC.
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General Partner
By: /S/ XXXXXX X. XXXXX
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Title: Chairman & Co-CEO
Date: MARCH 4, 1998
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