MANAGEMENT AGREEMENT AMENDMENT
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MANAGEMENT AGREEMENT AMENDMENT
This document dated November 1, 2001 shall serve as an amendment to the MANAGEMENT AGREEMENT ("Agreement") dated January 1, 2000 by and between Infosonics Corporation, a California corporation ("Operator") and JRC, Inc., a U.K. company ("Manager").
WHEREAS, Operator owns and operates a business that is engaged in the marketing of wireless telecommunications services and equipment at 0000 Xxxx Xxxx., Xxxx X, Xxx Xxxxx, Xxxxxxxxxx 00000 (USA) (the "Business");
WHEREAS, Operator requires the services of a qualified management consultant to assist Operator in the management the Business; and
WHEREAS, Manager desires to provide such management services to Operator.
It is agreed that JRC International waives the receipt of management fees from InfoSonics Corporation in the said amount of $10,000 per month for the period of November 1, 2001 through December 31, 2001, a total of $20,000.
6.4. Notices.
(a) All notices, demands and requests contemplated hereunder by either party to the other shall be in writing, and shall be delivered by hand, transmitted by facsimile (with electronic confirmation) or telegram, or mailed, postage prepaid, registered or certified mail, return receipt requested or any nationally recognized overnight courier:
(i) To, Manager, by addressing the same to:
Infosonics
Corporation
0000 Xxxx Xxxx., Xxxx. X
Xxx Xxxxx, XX 00000
Attn: Xxxxxx Ram, President
(ii) To Operator, by addressing the same to:
JRC
International
4TH FLOOR, 50 HANS CRESENT
KNIGHTS BRIDGE
LONDON, SW1X ONB
UNITED KINGDOM
or to such other address or to such other person as may be designated by notice given from time to time during the term hereof by one party to the other. Any notice hereunder shall be deemed given three (3) days after mailing, if given by mailing in the manner provided above, or on the date delivered or transmitted if given by hand, cable or facsimile.
IN WITNESS WHEREOF, the parties hereto have executed, sealed and delivered this Agreement through their duly authorized representatives, as of the day and year first above written.
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INFOSONICS CORPORATION | ||||
By: |
/s/ XXXXXX RAM Name: Xxxxxx Ram Title: President |
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By: |
/s/ XXXXXXX XXXXXX Name: Xxxxxxx Xxxxxx Title: Secretary |
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JRC, INC. |
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By: |
/s/ XXXXXX RAM* Name: Title: General Manager |
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By: |
Name: Title: Secretary |
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* As attorney in fact |
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MANAGEMENT AGREEMENT AMENDMENT
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