ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT
ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT
THIS ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT (“the Addendum” or “this Addendum”) is entered into this 14tth day of September, 2012.
BETWEEN:
High 5 Ventures Inc. (formerly Kokomo Enterprises Inc.), a company incorporated under the laws of British Columbia having a business office at Suite #1000 – 1177 West Hastings Street, Vancouver, B. C. V6E 2K3
(hereinafter referred to as the “Company”)
OF THE FIRST PART
AND:
Bedo X. Xxxxxxxxx and Xxxxx X. Xxxxxxxxx of 0000 Xxxxxxx Xxxxx, Xxxxxxxx, XX, X0X 0X0, and #000-0000 Xxxxxxxx Xxxxx, Xxxxxxxxx XX X0X 0X0, respectively,
(hereinafter referred to as the “Kalpakians”)
OF THE SECOND PART
AND:
Kalpakian Bros. of B.C. Ltd., a company incorporated under the laws of British Columbia having a business office at Suite #1000 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X. X0X 0X0
(hereinafter referred to as the “Manager”)
OF THE THIRD PART
WHEREAS:
| A. | The Company, the Kalpakians and the Manager entered into a Management Services Agreement on the 1st day of November, 2001, as amended by means of Addendums dated July 1, 2003, August 18, 2003, July 31, 2005, November 1, 2010, February 16, 2012 and March 28, 2012 (hereinafter collectively referred to as the “Agreement”). |
AND WHEREAS
| B. | The parties to the Agreement wish to further amend the Agreement, by means of this Addendum whereby the monthly remuneration payable to the Manager shall be reduced from Cdn $2,500 (Two Thousand Five Hundred Canadian Dollars) plus HST per month to Cdn $500 (Five Hundred Dollars) plus HST per month effective as of October 1, 2012. |
AND WHEREAS
| C. | All of the other terms and conditions of the Agreement shall remain unchanged and shall be in full force and effect. |
NOW THEREFORE, in consideration of the premises and mutual covenants herein set forth, the parties hereto agree as follows:
The parties to the Agreement and to this Addendum hereby agree that the monthly remuneration payable to the Manager be reduced from Cdn $2,500 (Two Thousand Five Hundred Canadian Dollars) plus HST per month to Cdn $500 (Five Hundred Dollars) plus HST per month effective as of October 1, 2012, and all of the other terms and conditions of the Agreement shall remain unchanged and shall be in full force and effect.
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IN WITNESS WHEREOF the parties hereto have executed this Addendum on this 14h day of September, 2012.
| THE CORPORATE SEAL OF | ) | |||||||||||
| HIGH 5 VENTURES INC. was hereunto | ) | |||||||||||
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| SIGNED SEALED AND DELIVERED BY | ) | |||||||||||
| BEDO X. XXXXXXXXX in the presence of: | ) | |||||||||||
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| Signature of Witness: | ) | |||||||||||
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| ) | BEDO X. XXXXXXXXX | |||||||||||
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| SIGNED SEALED AND DELIVERED BY | ) | |||||||||||
| XXXXX X. XXXXXXXXX in the presence of: | ) | |||||||||||
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| THE CORPORATE SEAL of | ) | |||||||||||
| KALPAKIAN BROS. OF B.C. LTD. | ) | |||||||||||
| was hereunto affixed in the presence of: | ) | |||||||||||
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