EXHIBIT 10.10
April 22, 2004
XX. XXXXXX X. XXXXXXXX
DYNAMIC INTERNATIONAL, INC.,
D/B/A DYNAMIC CLASSICS
00 Xxxxxx Xxxxxx
Xxxxxxxx, XX 00000
LETTER AMENDMENT (REF. #111804*H) (AMENDMENT "H") TO THE LICENSE
AGREEMENT EFFECTIVE JANUARY 09, 1993 BETWEEN DAIMLERCHRYSLER
COPRORATION AND DYNAMIC INTERNATIONAL, INC., D/B/A DYNAMIC
CLASSICS COVERING `JEEP' AND `CHRYSLER' (REF. #111804) (AGREEMENT)
Dear Xx. Xxxxxxxx:
The following, when signed by you and counter-executed by DaimlerChrysler
Corporation (hereinafter "DC"), shall constitute an Amendment to the
above-referenced Agreement as follows:
SUMMARY SHEET - PARAGRAPH 6. - ROYALTY
The royalty rate for Chrysler PT Cruiser Licensed Articles only is
hereby amended as follows:
The parties agree that Licensee shall pay 3% of Gross Sales for PT
Cruiser Licensed Articles until Licensee has recouped the cost of the
sweepstakes vehicle purchased (with an estimated cost of $22,600) by
Licensee for the Shopko promotion in September 2004. Once the cost of
the vehicle has been recouped from the royalty reduction and 1%
Institutional Advertising Campaign contribution as set forth herein,
the royalty rate shall revert to 6% of Gross Sales.
The parties agree Licensee may apply the quarterly Institutional
Advertising Campaign contribution, of 1% of Gross Sales, towards the
recouping of the ShopKo sweepstakes vehicle cost, in addition to the
reduced royalty rate outlined above. Once the cost of the vehicle has
been recouped Licensee will resume contribution to the Institutional
Advertising Campaign.
SUMMARY SHEET - PARAGRAPH 16 - DAIMLERCHRYSLER'S Nominee to Receive
Payment
The Nominee's address has been changed as follows:
The Xxxxxxx Xxxxx Group, Inc.
000 Xxxxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: President
Except as specifically modified herein, all other terms and conditions of the
Agreement shall remain in full force and effect.
Assuming the preceding statements accurately reflect your understanding, please
sign the original and all copies of this Amendment in the space provided, and
return them to me. We will then have the Amendment executed and return a
fully-executed copy to you for your files. Of course, no binding modification
exists until one fully-executed copy of the Amendment has been returned to you.
If you have any questions, feel free to contact Xxxxx Xxxxxxx.
Sincerely yours,
Glory Ekpe
Director, Contracts
AGREED TO AND ACCEPTED BY:
DAIMLERCHRYSLER CORPORATION DYNAMIC INTERNATIONAL, INC.,
D/B/A DYNAMIC CLASSICS
By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxx Xxxxxx X. Xxxxxxxx
Title: Sr. Staff Attorney-Trademarks Title: President
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Date: May 11, 2004 Date: April 29, 2004
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