EXHIBIT 10.26
October 30, 1995
Xxxxx Xxxxxxxx
President
The Rockport Company
000 Xxxxxx Xxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
Re: Amendment to Lease
Dear Angel:
Reference is hereby made to the Lease dated November 1, 1992
between you and Reebok International Ltd. ("Reebok"), together
with the Addendum thereto (the "Lease"). Capitalized terms used
herein without definition shall have the respective meanings set
forth in the Lease. We agree to amend such Lease as follows:
1. The term of the Lease shall be extended for an additional
period until the earlier of (a) the date of the closing of
the sale of your California residence located at 0000
Xxxxxxxx Xxxx Xxxxx, Xxxxxxxxx, XX 00000, (b) the date on
which your employment with Reebok or its subsidiaries is
terminated for any reason, or (c) October 31, 1996 (such
date shall be referred to herein as the "Lease Termination
Date").
2. During such extended term, you shall be liable for rent to
Reebok at a rate of $5,000 per month (pro-rated for any
partial month), which rent shall be due and payable to
Reebok in full on the Lease Termination Date; provided,
however, that if you sell your California residence prior to
May 31, 1996 and purchase the Leased Premises prior to such
date, as provided in Section 3 below, Reebok will forgive
the rent payments which would otherwise be due.
If you fail to pay any rent owed to Reebok when due, you
agree that Reebok or its subsidiaries may deduct such amount
from your compensation or any other amount which Reebok or
its subsidiaries, including the Rockport Company, may owe
you.
3. You have decided to exercise your option to purchase the
Leased Premises in accordance with the terms set forth in
the Lease and it is agreed that the closing of the sale of
the Leased Premises to you by Reebok pursuant to such option
shall take place on the Lease Termination Date. The
purchase price for the Leased Premises shall be $
1,064,350.71, which amount was calculated in the manner
provided in Section 32 of the Lease. In addition, as
indicated in Section 2 above, you will pay Reebok at such
time any rent due.
Xxxxx Xxxxxxxx
October 30, 1995
Page Two
If the foregoing reflects your agreement, please so indicate by
signing this letter where indicated below.
Very truly yours,
REEBOK INTERNATIONAL LTD.
By: /S/ XXXX X. XXXXXX
Xxxx Xxxxxx
Executive Vice President
AGREED TO AND ACCEPTED BY:
By: /S/ XXXXX XXXXXXXX
Xxxxx Xxxxxxxx
