Exhibit 10.9
SOTHEBY'S NEVADA, INC.
0000 Xxxxxx Xxxxxxxx Xxxx, Xxxxx 000
Xxx Xxxxx, Xxxxxx 00000
December 8, 2004
Xxxxxxxxxx Contemporary Art, Inc.
c/o Xx. Xxxxxxx, X. Xxxxxxxxxx
0000 Xxxxx Xxxxxxxx Xxxxxx
Xxxx, Xxxxxx 00000
Dear Xxxx:
This letter agreement amends the Agreement of Partnership (the "Partnership
Agreement") of Acquavella Modern Art, a Nevada general partnership, dated May
29, 1990, between Sotheby's Nevada, Inc., a Nevada Corporation ("Sotheby's
Partner"), and Xxxxxxxxxx Contemporary Art, Inc., a Nevada Corporation
("Acquavella Partner").
By letters of amendment on December 1, 2000, December 15, 2001, February 10,
2003 and January 13, 2004 we agreed to extend the term of the Partnership
Agreement through March 31, 2002, March 31, 2003, March 31, 2004 and March 31,
2005, respectively. By this letter of amendment, we are agreeing to extend the
term of the Partnership Agreement for one additional year through March 31,
2006. Accordingly, each of the Sotheby's Partner and the Acquavella Partner
hereby agree to amend Section 1.5 (iii) of the Partnership Agreement to delete
the reference to December 31, 2000 (subsequently amended to March 31, 2002,
March 31, 2003, March 31, 2004 and March 31, 2005), and substitute therefore
the date of "March 31, 2006."
Except as amended hereby, the Partnership Agreement shall remain in full force
and effect and is hereby ratified and confirmed.
Please sign this letter agreement in the space provided below. Upon execution on
behalf of the Acquavella Partner, is letter agreement shall be effective as of
the date of this letter.
SOTHEBY'S NEVADA, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
--------------------------------
Xxxxxxx X. Xxxxxxxx, President
AGREED AND ACCEPTED
XXXXXXXXXX CONTEMPORARY ART, INC.
By: /s/ Xxxxxxx X. Xxxxxxxxxx
--------------------------------
Xxxxxxx X Xxxxxxxxxx, President
