EXHIBIT 10(k)
SOTHEBY'S NEVADA, INC.
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇ Contemporary Art, Inc. December 15, 2001
c/o ▇▇. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇
Dear ▇▇▇▇:
This letter agreement amends the Agreement of Partnership (the 'Partnership
Agreement') of Acquavella Modern Art, a Nevada general partnership, dated May
29, 1990, between Sotheby's Nevada, Inc., a Nevada corporation ('Sotheby's
Partner'), and ▇▇▇▇▇▇▇▇▇▇ Contemporary Art, Inc., a Nevada corporation
('Acquavella Partner').
By a letter of amendment on December 1, 2000, we agreed to extend the term
of the Partnership Agreement through March 31, 2002. By this letter of
amendment, we are agreeing to extend the term of the Partnership Agreement for
one additional year through March 31, 2003. Accordingly, each of the Sotheby's
Partner and the Acquavella Partner hereby agree to amend Section 1.5(iii) of the
Partnership Agreement to delete the reference to December 31, 2000 (subsequently
amended to March 31, 2002), and substitute therefore the date of 'March 31,
2003.'
Except as amended hereby, the Partnership Agreement shall remain in full
force and effect and is hereby ratified and confirmed.
Please sign this letter agreement in the space provided below. Upon
execution on behalf of the Acquavella Partner, this letter agreement shall be
effective as of the date of this letter.
SOTHEBY'S NEVADA, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: President
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AGREED AND ACCEPTED
▇▇▇▇▇▇▇▇▇▇ CONTEMPORARY ART, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
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Title: President
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