AGREEMENT
Agreement dated September 1, 1999 between Xxxxxxxx Convertibles, Inc., a
Delaware corporation ("JCI"), and Xxxx Enterprises, Inc., a New York corporation
("Xxxx").
In consideration of $1.00 and other good and valuable consideration,
receipt of which is hereby acknowledged, "Xxxx" hereby agrees that it shall not
charge "JCI" for royalties, the 5% warehouse fee, and the fee for fabric
protection on new Xxxxxxxx Convertibles, Xxxxxxxx Leather or combined Xxxxxxxx
Convertibles/Xxxxxxxx Leather Super Stores whether opened in or out of New York
on or after July 1, 1999 and "JCI" agrees that when Xxxx transfers it warehouse
system to "JCI" ("Transfer Date") it will begin rebating to "Xxxx" its share of
vendor allowances that "JCI" receives relating to the repair program Klaussner
has instituted based on the "JCI" purchases from Klaussner which are in turn
sold to "Xxxx".
The parties hereto agree that the number of new Xxxxxxxx Convertibles
stores or combined Xxxxxxxx Convertibles/Xxxxxxxx Leather super stores that JCI
is permitted to open in New York after June 1, 1999 until the Transfer Date is
limited to five.
IN WITNESS WHEREOF, the parties have signed this Agreement as of this 1st
day of September 1999.
XXXXXXXX CONVERTIBLES, INC.
By: /s/ XXXXXX X. XXXXXXXXXX
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Xxxxxx X. Xxxxxxxxxx,
Chief Executive Officer
XXXX ENTERPRISES, INC.
By: /s/ XXXX XXXX
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Xxxx Xxxx, President