Exhibit 10(c)
EXHIBIT 10(C)
AMENDMENT TO ADVISORY AGREEMENT
This Amendment to the Client Advisory Agreement and Trading Authorization, is
made and entered into this 21st day of September by and between Hanseatic
Corporation, a New Mexico corporation (the "Advisor") and Pool Management
Services, Inc., formerly known as The Day Traders Club, Inc., an Oklahoma
corporation ("Client").
WHERAS, the Client and Advisor desire to amend certain the terms of Addendum A
of the Client Advisory Agreement And Trading Authorization entered into by the
parties and executed on December 14, 1998;
NOW THEREFORE, in consideration of the premises set forth above the parties
agree to the following:
a. As executed on December 14, 1998, Paragraph two of Addendum A of the
Advisory Agreement and Trading Authorization states:
"The Advisor will charge Client a monthly incentive fee equal to 10% of
the Account's Trading Profits. The Incentive Fee shall be payable only
on cumulative profits in the Account. If the Account incurs a loss
after the Advisor has been paid an incentive fee, the Advisor will
retain the fee, but will receive no further incentive fee until the
Account again achieves net new Trading Profits."
Paragraph two of Addendum A is hereby amended to read as follows:
"The Advisor will charge Client a quarterly incentive fee equal to 10%
of the Account's Trading Profits. "Quarterly" is hereby defined as a
calendar quarter consisting of three calendar months. The Incentive Fee
shall be payable only on cumulative profits in the Account. If the
Account incurs a loss after the Advisor has been paid an incentive fee,
the Advisor will retain the fee, but will receive no further incentive
fee until the Account again achieves net new Trading Profits."
b. All other references made to "monthly" incentive fees made in the
Client Advisory Agreement And Trading Authorization shall hereby be
amended to read "quarterly" incentive fees.
c. This amendment to Addendum A of the Client Advisory Agreement And
Trading Authorization is hereby deemed effective on
October 1, 2001.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
day and year first mentioned above.
By: /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Client: Pool Management Services, Inc.
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HANSEATIC CORPORATION
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇
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Vice President and Principal
