AMENDMENT TO THE AGREEMENT
TO
PROVIDE MANAGEMENT, PROFESSIONAL AND
SUPPORT SERVICES
This Agreement, entered into this 1st day of January, 1996 amends the
Agreement of June 15, 1995 between Grand Slam III, hereinafter referred
to as GS III, an Indiana partnership with offices located at 000
Xxxxxxxxxxxx Xxxxxxx, Xxxxx 000, Xxxxxxxxxxxx, Xxxxxxx 00000, and Grand
Slam Licensing, Inc., hereinafter referred to as GSL, an Indiana C
Corporation, with offices located at 000 Xxxxxxxxxxxx Xxxxxxx, Xxxxx 000,
Xxxxxxxxxxxx, Xxxxxxx 00000, for the provision of management, professional
and support services.
RECITALS
1. GS III and GSL entered into an Agreement on June 15, 1996 for GS III
to provide management, professional and support services to GSL.
2. As the demands associated with the identification of licenses to seek, the
acquisition of licenses, the negotiation of the terms of the licenses,
continued development of the GSL sales network, product development
and sales and marketing and other management and professional services
have increased, GSL requires a management staff of its own.
AGREEMENT
NOW THEREFORE, in consideration of these recitals and of the mutual
representations and covenants contained herein, the parties hereby agree to
amend their original agreement as follows:
1. SCOPE OF SERVICES: The scope of services provided by GS III to
GSL shall be reduced to the provision of: sufficient space for GSL to
design its logo and photo likeness collectible lapel pins, pin collector sets,
key chains and similar memorabilia products to conduct the marketing and
sales of its products; to provide office space for its management personnel
and, to store a reasonable amount of inventory and materials supporting
GSL's operations; and, such management and professional services as not
provided directly by GSL and as mutually agreed to by the parties.
2. COMPENSATION: The amount paid to GSIII by GSL shall be
forthwith reduced to $10,000 per month, payable on the first day of each
month, plus seven percent (7%) of the net revenues, calculated on revenues
actually received during the previous month and payable by the fifteenth day
of each month.
3. ALL OTHER TERMS AND CONDITIONS: All other terms and
conditions of the original Agreement shall ermine in force as stated in that
Agreement.
WHEREFORE, this Agreement has been executed as of the day and date
first written above:
GRAND SLAM III GRAND SLAM
LICENSING, INC.
by:___________________________ by:________________________
Xxxxxx X. Xxxxxxxx, Esq. Xxxxxxx X. Xxxxxxxx
General Partner Assistant Recording Secretary
