SIXTH AMENDMENT
THIS SIXTH AMENDMENT, made as of this 15th day of April, 1998 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 "Licensor").
WITNESSETH
WHEREAS, the Licensor and the Licensee entered into a Trademark License
Agreement dated May 20, 1994, as amended on October 3, 1995, June 1, 1996,
January 7, 1997, January 22, 1997 and September 19, 1997, 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. Accounting Year 3 shall be revised to commence October 1, 1997
and end March 31, 1999.
2. 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:
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ACCOUNTING YEAR GUARANTEED MINIMUM LICENSE FEE
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1 May 20, 1994 to September 30, 1996 $280,000.00
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2 October 1, 1996 to September 30, 1997 $280,000.00
--------------------------------------------------------------------------------
3 October 1, 1997 to March 31, 1999 $ 52,500.00"
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3. As amended hereby, the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Sixth 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/ Xxxxxx Xxxxxxxx By: /s/ Xxxxxx Xxxxxxxx, Pres.
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