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Exhibit 10.1
Amendment Number 1 to
Promissory Note dated October 25, 1995
In consideration of the mutual premises and covenants contained herein
and for other good and valuable consideration, the receipt and sufficiency of
which is hereby mutually acknowledged, Xxxxxxx Xxxx ("Payor") and Movado Group,
Inc. (formerly North American Watch Corporation, hereinafter referred to as
"Payee") hereby agree as follows:
That certain Promissory Note dated October 25, 1995 in the amount of
$150,000 duly executed by Xxxxx and delivered to Payee is hereby amended by
deleting the reference to "August 28, 1996" and substituting in lieu thereof
"January 31, 1997"; and by deleting the references to "August 28, 1997" and
"August 29, 1997" and substituting in lieu thereof "January 31, 1998".
I witness whereof Xxxxx and Xxxxx have duly executed this Amendment
Number 1 as of this 24th day of January 1997.
Payor:
/s/ Xxxxxxx Xxxx
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Xxxxxxx Xxxx
Payee:
MOVADO GROUP,INC.
By /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Chief Financial Officer
