Exhibit 10.31
FIRST AMENDMENT TO E-COMMERCE AGREEMENT
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This FIRST AMENDMENT TO E-COMMERCE AGREEMENT made the 17th day of June,
1999 by and between GLOBAL SPORTS INTERACTIVE, INC., a Pennsylvania corporation
("GSI") and MICHIGAN SPORTING GOODS DISTRIBUTORS, INC., a Michigan corporation
("Retailer").
W I T N E S S E T H:
WHEREAS, on February 1, 1999, GSI and Retailer entered into an E-Commerce
Agreement ("Agreement") pursuant to which GSI agreed to act as the outsourcing
company providing the Retailer's on-line customers the complete e-commerce
shopping experience; and
WHEREAS, GSI and Retailer desire to amend the Agreement, all as hereinafter
set forth.
NOW, THEREFORE, the parties hereto, intending to be legally bound hereby,
agree as follows:
1. The Agreement is amended to add the following paragraph 32:
Upon execution of this First Amendment by Retailer, and
acceptance thereof by GSI, prior to the announcement of
GSI's e-commerce initiative, GSI will deliver to Retailer
a Warrant to Purchase Shares of Global Sports, Inc., the
parent corporation of GSI, in accordance with the terms
set forth in the Warrant Term Sheet attached hereto as
Exhibit "B".
2. Retailer acknowledges that it is aware that GSI is negotiating with The
Sports Authority, Inc. ("TSA") pursuant to which GSI and TSA will form a
separate joint venture to operate TSA's on-line business. Retailer
acknowledges that the joint venture between GSI and TSA is not the type of
agreement which would entitle Retailer to invoke the "favored nations"
clause contained in the first sentence of Section 3.8 of the Agreement, and
Retailer consents to GSI entering into such joint venture with TSA.
3. In all other respects, the Agreement shall remain in full force and affect
and unamended.
GLOBAL SPORTS INTERACTIVE, INC.,
a Pennsylvania corporation
By: /s/ Xxxxxxx X. Xxxxx
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ATTEST
MICHIGAN SPORTING GOODS
INC., a Michigan corporation
DISTRIBUTORS,
/s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxx X. Xxxxxx
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ATTEST