Exhibit 10.60
AMENDMENT No. 4 to the
TRADEMARK LICENSE AND TECHNICAL ASSISTANCE AGREEMENT
COVERING WOMEN'S PRODUCTS
This Amendment No. 4 is dated August 2, 1999 and amends the Trademark
License and Technical Assistance Agreement for Women's Collections dated
January 15, 1998 by and between Latitude Licensing Corp. and I.C. Xxxxxx &
Co., L.P. covering Women's Products (the "Agreement"). Three previous
amendments in June 18, 1998, November 12, 1998 and December 23, 1998, have
been entered into. Capitalized terms used herein have the meaning ascribed to
them in the Agreement unless otherwise indicated.
FOR GOOD AND VALUABLE CONSIDERATION, THE RECEIPT OF WHICH IS HEREBY
ACKNOWLEDGED, THE PARTIES AGREE TO AMEND THE AGREEMENT AS FOLLOWS:
1. Paragraph 8.9(a) of the Agreement is amended to postpone the requirement
to sign a lease agreement for a flagship store in New York to July 31, 2002
and shall read as follows:
"a) LICENSEE AGREES TO OPEN A FLAGSHIP STORE FOR SALE OF LICENSOR'S
MEN'S AND WOMEN'S LINES AND OTHER GIRBAUD LICENSED MERCHANDISE (THE
"BOUTIQUE") IN A MUTUALLY AGREED LOCATION IN MANHATTAN, NEW YORK CITY,
WITH A TARGET SELLING SPACE OF NO LESS THAN 800 SQUARE METERS. THE
PARTIES WILL COOPERATE IN GOOD FAITH TO MAKE EFFORTS TO IDENTIFY AND
SELECT THE SPACE. LICENSEE SHALL SIGN A LEASE AGREEMENT FOR THE BOUTIQUE
BY JULY 31, 2002. IF LICENSEE HAS NOT SIGNED A LEASE AGREEMENT FOR THE
BOUTIQUE IN NEW YORK BY JULY 31, 2002, THEN LICENSEE SHALL PAY TO LICENSOR
FIVE HUNDRED THOUSAND DOLLARS IN CASH AND SHALL THEN BE FULLY RELEASED OF
ITS OBLIGATION TO OPEN THE BOUTIQUE. SUCH FIVE HUNDRED THOUSAND DOLLARS
SHALL BE IN THE NATURE OF ROYALTIES AND BE PAID AS FOLLOWS: $250,000 ON
OR BEFORE AUGUST 30, 2002; AND $250,000 ON OR BEFORE OCTOBER 30, 2002.
2. This Amendment is effective starting on the date stated below once it has
been signed by both parties.
3. Except for the terms amended by this Amendment, the Agreement as existing
until the execution of this Amendment No. 4 shall continue in full force and
effect.
Dated: 8/2/99
----------
LATITUDE LICENSING CORP. I.C. XXXXXX & COMPANY L.P.
By: I.C. Xxxxxx & Company, Inc.
its General Partner
By: /s/ Xxxxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxx
---------------------------- ----------------------------
Name: Xxxxxx Xxxxxx Name: Xxxxxx X. Xxxxx
Title: Vice President Title: Chairman & CEO
