EXHIBIT 10.87
TWENTY FOURTH
AMENDMENT
TO
LICENSE AGREEMENT
This TWENTY FOURTH AMENDMENT, effective as of the later date of the signatures
below, is to that certain Reproduction and Service Part Tooling License
Agreement effective December 1, 1993 by and between Service Parts Operations,
General Motors Corporation ("LICENSOR") and ▇▇▇▇▇▇ Industries, Inc. ("LICENSEE")
as amended by the FIRST through TWENTY THIRD AMENDMENTS (collectively the
"AGREEMENT").
WHEREAS, the parties have entered into the AGREEMENT and mutually desire to
amend such AGREEMENT as specifically provided herein;
NOW THEREFORE for good and valuable consideration, the sufficiency of which is
hereby acknowledged, the parties agree as follows:
1. Exhibit I of the AGREEMENT is hereby amended to specifically identify the
following TRADEMARKS as being included in the original Exhibit I and I-A:
CHEVROLET
CORVETTE
Corvette "Crossed Flags" Emblem
GM Restoration Parts Emblem (as shown on Exhibit IV
of the AGREEMENT)
2. Exhibit I is further amended to specifically include the following
additional TRADEMARKS:
VETTE
STINGRAY
STING RAY
ZR-1
LT-1
L98
L82
*GRAND SPORT
*CORVETTE COLLECTOR'S EDITION
*CORVETTE
"Genuine Chevrolet"
Chevrolet "Bow Tie" Emblems
"The Heartbeat of America" (with or without Bow Tie Emblems)
GM Official Licensed Products Emblem (as shown on Attachment A
to this TWENTY FOURTH AMENDMENT)
* It is understood and agreed between the parties that LICENSEE may
also use Body Designs for the GRAND SPORT, COLLECTOR'S EDITION, and
CORVETTE (through production vehicle model year 1997) on packaging and
promotional materials only, with LICENSOR'S prior approval to Paragraph
9.6 of the AGREEMENT.
3. Exhibit I is further amended to specifically include the following
non-restoration automotive parts and accessories ("LICENSED PRODUCTS"):
Dash mats (1968-96 production vehicle model years) Cargo mats (1968-96
production vehicle model years) Nose masks (1980-96 production vehicle
model years) Console control covers (1984-89 production vehicle model
years)
Door sill plates (metal and plastic) (1968-96 production vehicle model
years) Valve stem caps and aluminum valve covers Fender covers
Accessory rubber floor mats (clear and black) (1963-82 production
vehicle model years) Dash accessories
It is understood and agreed that all of the LICENSED PRODUCTS described
must be submitted to LICENSOR for its inspection and approval in
accordance with Paragraph 9.3 of the AGREEMENT.
4. Paragraph 6.3 of the AGREEMENT is hereby amended to also require LICENSEE
to use the GM Official Licensed Product Emblem in conjunction only with the
LICENSED PRODUCTS identified in Paragraph 3 herein (and as may be included
in future amendments to this AGREEMENT) in the same manner as said
Paragraph 6.3 requires LICENSEE to use the GM Restoration Parts Emblem in
conjunction with LICENSED PARTS.
5. It is understood that the TRADEMARKS identified in paragraph 2 and the
LICENSED PRODUCTS identified in Paragraph 3 were previously licensed under
that certain Trademark License Agreement between the parties which expired
on December 31, 1995 and which was not renewed.
6. Other than as specifically set forth in this TWENTY FOURTH AMENDMENT, the
AGREEMENT remains unchanged and of full force and effect; any conflict
between the AGREEMENT and this TWENTY FOURTH AMENDMENT shall be controlled
by this TWENTY FOURTH AMENDMENT.
GENERAL MOTORS CORPORATION, ▇▇▇▇▇▇ INDUSTRIES, INC.
SERVICE PARTS OPERATIONS
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
------------------------ -----------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Manager, Trademark Licensing Title: President/CEO
Date: December 6, 1996 Date: January 7, 1997
