EXHIBIT 10.29
[LETTERHEAD OF PAPA XXXX'S]
June 18, 1997
Xx. Xxxxxxx X. Xxxxxxxx
XX AMERICA, INC.
P.O. Box 611165
Birmingham, Alabama 00000-00000
RE: Canadian Development
Dear Xxxx:
At Xxxxx Xxxxxxxxx'x request, I am writing to confirm our agreements and
understandings with respect to the rights of PJ America, Inc. ("PJAM") to
develop the City of Vancouver, Canada and surrounding territory.
By Letter Agreement dated May 20, 1996 (the "Letter"), we granted PJAM
development rights to the City of Vancouver, Canada and its surrounding
territory (the "Vancouver Territory"). Under the terms of the Letter, we were to
give written notice to PJAM promptly after we acquired rights to use the name
"Papa Xxxx's" in Canada. PJAM would then have 60 days following receipt of such
written notice to notify us whether PJAM intended to enter into a Development
Agreement for the Vancouver Territory.
On February 11, 1997, we notified PJAM that we had acquired the Canadian
trademark registration for the name "Papa Xxxx's." Thus, the 60-day exercise
period began to run. By letter dated March 26, 1997, we agreed to extend the
date by which PJAM must notify us if it intends to develop the Vancouver
Territory to December 31, 1997.
In short, PJAM still has the option to develop the Vancouver Territory.
That option extends through December 31, 1997. If you have any questions or
comments concerning PJAM's development rights in Canada, or if we may otherwise
be of further assistance, please don't hesitate to give me a call. Best regards.
Very truly yours,
PAPA XXXX'S INTERNATIONAL, INC.
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Vice President and Senior Counsel
RJE:kw
cc: Xxxxxxx X. Xxxxxxxxx
bcc: Xxxx X. Xxxxxxx
