SCHEDULE 1 TO ADDENDUM NO. 3 TO THE AREA DEVELOPMENT AGREEMENT BY AND BETWEEN EINSTEIN/NOAH BAGEL CORP. AND EINSTEIN/NOAH BAGEL PARTNERS, L.P. ---------------------------------- DATED FEBRUARY 3, 1999 ----------------
Exhibit 10.16
ADDENDUM NO. 3 TO
AREA DEVELOPMENT AGREEMENT
THIS ADDENDUM No. 3, dated February 3, 1999, is to the Area Development
Agreement, dated as of December 5, 1997, and as amended by Addendum No. 1 dated
of even date therewith, (as previously amended, the "Agreement"), by and between
EINSTEIN/NOAH BAGEL CORP., a Delaware corporation ("COMPANY"), and EINSTEIN/NOAH
BAGEL PARTNERS, L.P., a Delaware limited partnership ("DEVELOPER").
The following shall amend and be incorporated into the Agreement. In the
event of any conflict between the terms of the Agreement and the terms of this
Addendum, then the terms of this Addendum shall control. All capitalized terms
not defined in this Addendum shall have the respective meanings set forth in the
Agreement.
1. Exhibit E to the Agreement is hereby deleted and replaced, in its entirety,
with the Revised Exhibit E attached hereto as Schedule 1.
IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby,
have duly executed this Addendum in duplicate as of the date written below.
COMPANY: DEVELOPER:
EINSTEIN/NOAH BAGEL CORP. EINSTEIN/NOAH BAGEL PARTNERS, L.P..
By: Einstein/Noah Bagel
Partners, Inc.
Its: General Partner
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxx X. Xxxxxxx
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Xxxxx X. Xxxxxx Xxxx X. Xxxxxxx
Its: Vice President Its: Vice President
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SCHEDULE 1 TO
ADDENDUM NO. 3 TO THE AREA DEVELOPMENT AGREEMENT
BY AND BETWEEN EINSTEIN/NOAH BAGEL CORP.
AND
EINSTEIN/NOAH BAGEL PARTNERS, L.P.
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DATED FEBRUARY 3, 1999
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REVISED EXHIBIT E
DEVELOPMENT SCHEDULE
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DEVELOPMENT SCHEDULE
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1. Store Development. DEVELOPER agrees to develop a total of Eight
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Hundred Eighty-three (883) Stores in accordance with the terms of this
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Agreement.
2. Development Obligations. DEVELOPER agrees to have the number of Stores
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specified below open during each specified "Quarter" shown below and to have
open and in operation in each Quarter indicated, the cumulative numbers of
Stores shown below:
Development Quota/ Development Quota/
Quarter Quarter Cumulative
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12/01/97 - 12/28/97 20 20
12/29/97 - 12/27/98 15 35
12/28/98 - 12/26/99 10 45
12/27/99 - 04/16/00 40 85
04/17/00 - 07/09/00 45 130
07/10/00 - 10/01/00 45 175
10/02/00 - 12/31/00 45 220
01/01/01 - 04/22/01 40 260
04/23/01 - 07/15/01 45 305
07/16/01 - 10/07/01 45 350
10/08/01 - 12/30/01 45 395
12/31/01 - 04/21/02 40 435
04/22/02 - 07/14/02 40 475
07/15/02 - 10/06/02 40 515
E-1
10/07/02 - 12/29/02 43 558
12/30/02 - 04/20/03 39 597
04/21/03 - 07/13/03 39 636
07/14/03 - 10/05/03 39 675
10/06/03 - 12/28/03 38 713
12/29/03 - 04/18/04 40 753
04/19/04 - 07/11/04 45 798
07/12/04 - 10/03/04 40 838
10/04/04 - 12/26/04 45 883
Total Development Quota for the
Development Area (the "Total
Development Quota"):
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883
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INITIALS:
COMPANY: PEM
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DEVELOPER: PS
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E-2
