ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT
ADDENDUM TO THE MANAGEMENT
SERVICES AGREEMENT
THIS ADDENDUM TO THE MANAGEMENT
SERVICES AGREEMENT (“the Addendum” or “this Addendum”) is entered into
this 16tth day
of February, 2012.
BETWEEN:
Kokomo Enterprises Inc. a
company incorporated under the laws of British Columbia having a business office
at Suite #1000 – 1177 West Hastings Street, Vancouver, B. C. V6E
2K3
(hereinafter
referred to as the “Company”)
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OF
THE FIRST PART
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AND:
Bedo X. Xxxxxxxxx and Xxxxx X. Xxxxxxxxx of 0000
Xxxxxxx Xxxxx, Xxxxxxxx, XX, X0X 0X0, and #000-0000 Xxxxxxxx Xxxxx,
Xxxxxxxxx XX X0X 0X0, respectively,
(hereinafter
referred to as the “Kalpakians”)
OF
THE SECOND PART
AND:
Kalpakian Bros. of B.C. Ltd.,
a company incorporated under the laws of British Columbia having a
business office at Suite #1000 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx,
X.X. X0X 0X0
(hereinafter
referred to as the “Manager”)
OF
THE THIRD PART
WHEREAS:
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A.
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The
Company, the Kalpakians and the Manager entered into a Management Services
Agreement on the 1st
day of November, 2001, as amended by means of Addendums dated July 1,
2003, August 18, 2003, July 31, 2005 and November 1, 2010 (hereinafter
collectively referred to as the
“Agreement”).
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AND
WHEREAS
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B.
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The
parties to the Agreement wish to amend the Agreement, by means of this
Addendum whereby the monthly remuneration payable to the Manager shall be
reduced from Cdn $10,000 to Cdn $5,000 (Five Thousand Canadian Dollars)
plus HST per month effective as of March 1,
2012.
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AND
WHEREAS
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C.
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All
of the other terms and conditions of the Agreement shall remain unchanged
and shall be in full force and
effect.
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NOW THEREFORE, in consideration of the
premises and mutual covenants herein set forth, the parties hereto agree as
follows:
The
parties to the Agreement and to this Addendum hereby agree that the monthly
remuneration payable to the Manager be reduced from Cdn $10,000 to Cdn $5,000
(Five Thousand Canadian Dollars) plus HST per month effective as of March 1,
2012, and all of the other terms and conditions of the Agreement shall remain
unchanged and shall be in full force and effect.
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IN WITNESS WHEREOF the parties
hereto have executed this Addendum on this 16th day
of February, 2012.
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THE
CORPORATE SEAL OF
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was
hereunto affixed in the presence of:
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C/S
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SIGNED
SEALED AND DELIVERED BY
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BEDO X. XXXXXXXXX in the
presence of:
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Signature
of Witness:
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Name
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BEDO
X. XXXXXXXXX
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Address
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Occupation
of Witness:_____________________
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SIGNED
SEALED AND DELIVERED BY
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XXXXX X. XXXXXXXXX in
the presence of:
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Signature
of Witness:
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Name
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XXXXX
X. XXXXXXXXX
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Address
of Witness:
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Occupation
of Witness:_____________________
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THE
CORPORATE SEAL of
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KALPAKIAN
BROS. OF B.C. LTD.
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was
hereunto affixed in the presence of:
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C/S
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