EXHBIT 10.11
(TRANSLATION)
DUTY STAMP
MEMORANDUM OF AGREEMENT ON AMENDMENTS
ATTACHED TO THE CONTRACT ON PERMISSION TO
ENGAGE IN BUSINESS OF SALE OF MERCHANDISE AND
SOUVENIRS AND TO LEASE PREMISES TO ENGAGE
IN BUSINESS AT THE INTERNATIONAL
PASSENGER TERMINAL OF THE BANGKOK AIRPORT
CONTRACT NO. 6-01/2536 DATED MARCH 18, 1993
AMENDMENT NO. 3
THIS MEMORANDUM OF AGREEMENT is made at the Airports Authority of Thailand on
the 29th day of October 1996 between THE AIRPORTS AUTHORITY OF THAILAND by Air
Chief Xxxxxxx Xxxxxx Chandrubeksa, the Governor, hereinafter referred to as
"AAT" of the one part and J.M.T GROUP CO., LTD., a limited company incorporated
under the Civil and Commercial Code, having the head office located at 000/00
Xxx Xxxxxxx Xxxx, Xxxxxx Phra Pinklao Road, Bang Yeekhan Sub-District, Bangkok
Noi District, Bangkok Metropolis by Mr. Viratana Suntaranond, the person
authorized to act on behalf of the. company under the Affidavit issued by the
Partnerships and Companies Registration Office, Bangkok Metropolis, the
Department of Commercial Registration, the Ministry of Commerce No. Sor
Or.0099462 dated August 9, 1996, hereinafter referred to as the "Supplier" of
the other part.
WHEREAS AAT has permitted the Supplier to engage in the business of sale of
merchandise and souvenirs and to lease premises to operate the said business at
the International Passenger Terminal within the Bangkok Airport, under the
Contract No. 6-01/2536 dated March 18, 1993, for a period of 5 years commencing
from April 1, 1993 to March 31, 1998 with a total area for operation of business
of 617.00 square meters; and
WHEREAS AAT permits the Supplier to lease additional premises with an area of
402.50 square meters commencing from December 5, 1995.
AAT and the Supplier, therefore, agree to enter into this Memorandum of
Agreement as follows:
Clause 1 The Appendix A. attached to the Contract No. 6-01/2536 date the 18th
day of March 1993 which has been amended by the Memorandum of Agreement on
Amendments No.2 dated the llth day of March 1996, shall be revoked and replaced
by Appendix A. attached hereto.
1
Clause 2. In consideration to AAT's permission for the Supplier to lease
additional premises to operate its business, the Supplier agrees to pay an
additional remuneration to AAT as follows:
2.1 For the period commencing from December 5, 1995 to December 4, 1996,
the Supplier agrees to pay AAT the amount of Baht 4,969,066.65 (Four
million
nine hundred sixty nine thousand sixty six and 65/100 Baht) per month
in advance. For the following years, the same shall be increased by 10
per cent per year.
2.2 For the period commencing from January 1, 1996 to March 31, 1996, the
Supplier agrees to pay AAT the amount of Baht 13,369.68 (Thirteen
thousand three hundred sixty nine and 68/100 Baht) per month in
advance.
2.3 For the period commencing from April 1, 1996 to March 31, 1997, the
Supplier agrees to pay AAT the amount of Baht 14,706.65 (Fourteen
thousand seven hundred six and 65/100 Baht) per month in advance.
2.4 For the period from April 1, 1997 to March 31, 1998, the Supplier
agrees to pay AAT the amount of Baht 16,177.31 (Sixteen thousand one
hundred seventy seven and 31/100 Baht) per month in advance.
Clause 3. In entering into this Memorandum of Agreement, the Supplier has
delivered to AAT the Bank Guarantee issued by the Bangkok Metropolitan
BankPublic Company Limited No L 39-3166 dated October 18, 1996 in the amount of
Baht 30,143,739.80 (Thirty million one hundred forty three thousand seven
hundred thirty nine and 80/100 Baht), as security for performance under the
Contract No. 601/2536 dated March 18, 1993.
Clause 4. Other than those stipulated in Clauses 1, 2 and 3 hereinabove, other
stipulations of the Contract No. 6-01/2536 dated March 18, 1993, shall remain in
full force and effect.
Clause 5. This Memorandum of Agreement shall be in effect as from December 5,
1995 onwards.
This Memorandum of Agreement is made in duplicate with identical content. The
Parties have thoroughly read and understood the same, thus setting their hands
together with the seal (if any) affixed in presence of witnesses and each
keeping one copy.
2
AAT Supplier
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(Signed) Air Chief Marshal (signature) (Signed) (signature)
(Xxxxxx Chandrubeksa) (Mr. ViratanaSuntaranond)
Witness Witness
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(Signed) (signature) (Signed) (signature)
(Mr. Krit Pakakij) (Ms. Chataporn Phulupothong)
3
(TRANSLATION)
LIST ATTACHED TO MEMORANDUM OF AGREEMENT ON AMENDMENTS
TO BE ATTACHED TO THE CONTRACT NO. 6-01/2536 DATED MARCH 18,1993
Amendment No. 3
Appendix A
(Total 8 Pages)
Page 1
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Particulars Area in Rental Rate Rental Charges Housing Lease Period
of Leased Premises Square Baht/Sq.m Land Tax -------------------------------
Meter /month Babt/month Baht/month Baht/month From Up to
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Premises within the International
Passenger Terminal, Building I
---------------------------------
- Nos. 1302, 1302B 48.00 500.- 24,000.- 3,600.- 3,000.00 December 5, 1995 March 31, 1998
- No. 3303 A 12.00 500.- 6,000.- 900.- 750.- December 5, 1995 March 31, 1998
- No. 3303 A/1 9.00 500.- 4,500.- 675.- 562.50 Deeember 5, 1995 March 31, 1998
- No. 3303 B 36.50 500.- 18,250.- 2,737.50 2,281.25 December 5, 1995 March 31, 1998
- No. 3304 A 36.50 500.- 18,250.- 2,737.50 2,281.25 December 5, 0000 Xxxxx 00, 0000
- Xx. 0000 X 12.00 500.- 6,000.- 900.- 750.- December 5, 1995 March 31, 1998
- No. 3304 B/1 11.00 500.- 5,500.- 825.- 687.50 December 5, 1995 March 31, 1998
- No. 3342 E 200.00 500.- 100,000.- 15,000.- 12,500.- December 5, 1995 March 31, 1998
- No. 3342 E/1 28.50 500.- 14,250.- 2,137.50 1,781.25 December 5, 1995 March 31, 1998
- No. 3342 E/2 28.50 500.- 14,250.- 2,137.50 1,781.25 December 5, 1995 March 31, 1998
- No. 3342 F 200.00 500.- 100,000.- 15,000.- 12,500.- December 5, 1995 March 31, 1998
- No. 3342 F/1 28.50 500.- 14,250.- 2,137.50 1,781.25 December 5, 1995 March 31, 1998
- No. 3342 F/2 28.50 500.- 14,250.- 2,137.50 1,781.25 December 5, 1995 March 31, 1998
- No. 0316 42.50 500.- 21,250.- 3,187.50 2,656.25 December 5, 1995 March 31, 1998
- No. 3265 S 22.00 500.- 11,000.- 1,650.- 1,375.- December 5, 1995 March 31, 1998
- No. 3265 S/1 12.50 500.- 6,250.- 937.50 781.25 December 5, 1995 March 31, 1998
- No.3265T 7.50 500.- 3,750.- 562.50 468.75 December 5, 1995 March 31, 1998
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Page 2
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Particulars Area in Rental Rate Rental Charges Housing Lease Period
of Leased Premises Square Baht/Sq.m Land Tax -------------------------------
Meter /month Babt/month Baht/month Baht/month From Up to
------------------------------------------------------------------------------------------------------------------------------------
Premises within the International
Passenger Terminal, Building I
---------------------------------
Premises within the International
Passenger Terminal, Building I:
- No. 2797 A 41.00 750.- 30,750.- 4,612.50 3,843.75 December 5, 1995 March 31, 1998
- No. 3770 43.50 750.- 32,625.- 4,893.75 4,078.12 December 5, 1995 March 31, 1998
- No. 3735 A 160.50 750.- 120,375 - 18,056.25 15,046.87 December 5, 1995 Xxxxx 00, 0000
- Xx. 0000 X 156.00 750.- 117,000.- 17,550.- 14,625.- December 5, 1995 March 31, 1998
- No. 3757 A 12.50 750.- 9,375.- 1,406.25 1,171.87 January 1, 1996 March 31, 1998
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AAT Supplier
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(Signed) Air Chief Marshal (signature) (Signed) (signature) (seal)
(Xxxxxx Chandrubeksa) (Mr. Viratana Suntaranond)
(Signed) Witness Witness
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(signature) (Signed) (signature)
(Mr. Krit Pakakij) (Ms. ChataDorn PhluDothonc)
[Six pages (floor plans) of graphics omitted]
