Exhibit 10.37
AMENDMENT NO. 1
THIS AMENDMENT NO. 1 (the "Amendment") is made and entered into as of July
11, 2001, by and between ROYAL GRIP, INC., an Arizona corporation ("Royal
Grip"), and PRECISION FM JAPAN, LTD., a Japanese corporation ("Precision").
RECITALS
WHEREAS, the parties entered into an agreement, dated July 12, 1991, for
the exclusive distributorship of Royal Grip Products in the Far East and
Southeast Asia (the "Agreement");
WHEREAS, the parties have determined to modify the Agreement in the manner
hereinafter set forth.
NOW THEREFORE, the parties hereby agree as follows:
Section 1. AMENDMENT. Section 3 is hereby amended in its entirety to read
as follows:
3. TERM. The initial term of this Agreement shall be for the period
beginning the date hereof, such date being the "Effective Date" and ending
January 31, 2002. If, at the end of the initial term, Precision is not in
default of any of the terms contained herein, it may renew the Agreement for
additional, successive, two-year terms on the terms and conditions agreed.
Section 2. CONTINUING VALIDITY. Except as amended herein, the provisions of
the Agreement shall remain unchanged and in full force and effect. All
references to the Agreement hereafter shall be deemed to mean and refer to the
Agreement, as amended by this Amendment.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first above written.
ROYAL GRIP, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
Title: President
PRECISION FM JAPAN, LTD.
By: /s/ Xxxxxx Xxxxxxxx
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Name: Xxxxxx Xxxxxxxx
Title: President
