Logo] AgfaPhoto USA Corporation
Exhibit 10.6
[Logo]
AgfaPhoto
USA Corporation
000
Xxxxxxxxxx Xxxx
Xxxxxxxxxx
Xxxx, XX 00000-0000
xxx.xxxxxxxxx.xxx
T
201-440-2500
F
000-000-0000
June
15,
2005
Xx.
Xxxxx
Xxxx via
Facsimile Transmission
Portrait
Corporation of America, Inc.
000
Xxxxxxxx-Xxxx Xxxx Xxxx
Xxxxxxxx,
Xxxxx Xxxxxxxx 00000
Dear
Xxxxx:
The
purpose of this letter is to modify in part the Agfa/PCA agreement dated
effective February 4, 2002 (as amended, “the Agreement”), which sets forth the
terms and conditions of the sale of products by AgfaPhoto USA Corporation
(“AgfaPhoto”) (assignee of Agfa Corporation) to Portrait Corporation of America,
Inc. (“PCA”). It is the express intention of AgfaPhoto and PCA to enter into a
revised agreement, which will supersede both the Agreement and the revised
terms
and conditions set forth in this letter, within 60 to 90 days of the date
hereof.
It
is
agreed that:
| · |
AgfaPhoto
will continue to sell products set forth in the Agreement to PCA,
under
condition that payment for such products by PCA be tendered at or
before
the delivery of such products by
AgfaPhoto.
|
| · |
With
respect to the payment of currently outstanding invoices, AgfaPhoto
agrees
not to exercise its right to terminate the Agreement or to seek entry
of
judgment on such outstanding amounts for a period of twelve months
from
the date hereof, provided that PCA does not otherwise breach the
Agreement
or the terms of this letter.
|
| · |
Except
as expressly stated herein, nothing in this letter shall constitute
a
waiver by AgfaPhoto of its rights under the
Agreement.
|
/s/
Xxxx Xxxx
By:
XXXX
XXXX, President/CEO
AgfaPhoto
USA Corporation
Date:
06/14/05
Agreed:
/s/
Xxxxx Xxxx
By:
XXXXX
XXXX, President/CEO
Portrait
Corporation of America, Inc.
Date:
cc:
X.
Xxxxxxx, Traflet & Fabian
