Exhibit 10.36
THIRD AMENDMENT
THIS THIRD AMENDMENT, made as of this 7th day of January, 1997 by and
between CONVERSE INC., a corporation organized and existing under the laws of
the State of Delaware, having its principal place of business at Xxx Xxxxxxx
Xxxx, Xxxxx Xxxxxxx, Xxxxxxxxxxxxx 00000 (hereinafter called "Converse" or
"Licensor");
AND
ACTIVE APPAREL GROUP, INC., a corporation organized and existing under the laws
of the State of New York, having its principal place of business at 0000
Xxxxxxxx, Xxxxx 0000, Xxx Xxxx, Xxx Xxxx 00000 (hereinafter called "Licensee").
WITNESSETH
WHEREAS, the Licensor and the Licensee entered into a Trademark License
Agreement dated May 20, 1994, as amended on October 3, 1995 and June 1, 1996,
with respect to the license of certain of the Licensor's trademarks in the
United States (the "Agreement"); and
WHEREAS, Converse and Licensee desire to further amend the Agreement.
NOW THEREFORE, the parties agree as follows:
1. Paragraph 5.1(b) shall be revised to read as follows:
"(b) The Licensee will pay to Licensor a guaranteed minimum annual
license fee commencing May 20, 1994, regardless of its Net Sales of Finished
Articles sold under this Agreement for each Accounting Year commencing with the
year 1994 (the "Guaranteed Minimum Fee"), in the amount set forth herein:
ACCOUNTING YEAR GUARANTEED MINIMUM LICENSE FEE
1 May 20, 1994 to September 30, 1996 $280,000
2 October 1, 1996 to September 30, 1997 $280,000.00
3 October 1, 1997 to September 30, 1998 $350,000.00"
2. As amended hereby, the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Third Amendment as
of the date first above written.
WITNESS: CONVERSE INC.
/s/ [ILLEGIBLE] By /s/ [ILLEGIBLE]
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WITNESS: ACTIVE APPAREL GROUP, INC.
/s/ [ILLEGIBLE] By /s/ XXXXXX XXXXXXXX, PRESIDENT
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