Exhibit 10(i)
SOTHEBY'S NEVADA, INC.
0000 Xxxxxx Xxxxxxxx Xxxx, Xxxxx 000
Xxx Xxxxx, Xxxxxx 00000
January 13, 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 and
February 10, 2003, we agreed to extend the term of the Partnership
Agreement through March 31, 2002, March 31, 2003 and March 31, 2004,
respectively. By this letter of amendment, we are agreeing to extend the
term of the Partnership Agreement for one additional year through March 13,
2005. 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 and March 31, 2004), and substitute therefore the date
of "March 31, 2005."
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, this 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
