ADDENDUM TO LICENSING AGREEMENT
Exhibit
10.14
ADDENDUM
TO LICENSING AGREEMENT
Addendum
to Licensing Agreement between Venitech, LLC and Fresh Ideas Media, Inc. dated
March 14, 2005.
WHEREAS,
Article 6, of the License Agreement, MINIMUM PROFORMANCE BY LICENSEE, reads
as
follows:
ARTICLE
6
MINIMUM
PROFORMANCE BY LICENSEE
It
is
hereby understood and agreed that the minimum number of Sub-licensee Agreements
that the Licensee is obligated to sell within the first twelve (12) month period
starting at the signing of this Agreement shall be three (3). If a minimum
of
three Sub-licensee Agreements are not sold by the Licensee during the 12 month
period Licensor, at their option, may consider this Agreement null and void
and
will have the right to sell a License in all or any part of the Territory.
Thereafter, for any 12 month period, the Licensor agrees to sell a minimum
of
four (4) Sub-licenses.
Whereas,
the parties desire to amend Article 6 of the Agreement, it is hereby agreed
to
by all parties involved that the above Article 6 of Licensing Agreement shall
be
amended to read as follows:
ARTICLE
6
MINIMUM
PROFORMANCE BY LICENSEE
It
is
hereby understood and agreed that the minimum number of Sub-licensee Agreements
that the Licensee is obligated to sell within the first twelve (12) month period
starting at the signing of this Agreement shall be three (3). If a minimum
of
three Sub-licensee Agreements are not sold by the Licensee during the 12 month
period Licensor, at their option, may consider this Agreement null and void
and
will have the right to sell a License in all or any part of the Territory.
Licensee shall sell an additional four (4) Sub-licenses between March 14, 2006
and August 14, 2007 and thereafter Licensee agrees to sell a minimum of four
(4)
Sub-licenses during every 12 month period from August 14, 2007.
This
addendum to the above named License Agreement is entered into by the parties
on
this the 16th
day of
January, 2007.
Venitech,
LLC
By:
/s/
Xxxx X. Xxx, President
Fresh
Ideas Media, Inc.
By:
/s/
Xxxx X. Xxx, President
