AMENDMENT NO. 2 TO KATHY HILTON LICENSE AGREEMENT
AMENDMENT
NO. 2 TO
XXXXX XXXXXX LICENSE
AGREEMENT
This
Amendment No. 2 to the License Agreement ("Agreement") is made and effective as
of the _____ day of May 2007 (“Effective Date”), by and between KRH Licensing Company, LLC., a
California corporation with an office and place of business at 000 Xxxxx Xxxxx
Xxxxx, 0xx Xxxxx,
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000 (collectively, "Licensor"), and OmniReliant Corp., a Florida
corporation with an office and principal place of business at 0000 Xxxxxxxxxx
Xxxx., Xxxxx 000 Xxxxx, Xxxxxxx 00000 ("Licensee") (together the
"Parties").
WITNESSETH
:
WHEREAS, the parties have
entered into the Agreement on October 13, 2006; and
WHEREAS, the parties wish to
enter into this Amendment to correct certain errors.
NOW, THEREFORE, in
consideration of the premises and mutual agreements contained herein, the
parties hereto covenant and agree as follows:
1.
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The
table in Article 8A is hereby amended to read as
follows:
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ANNUAL
PERIOD GUARANTEED MINIMUM ROYALTIES
Annual
Period
|
Dates
|
Minimum
Royalty
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||
1
|
Effective
Date to 12/31/07
|
One
Million Dollars
|
||
2
|
1/1/08
to 12/31/08
|
One
Million Dollars
|
||
3
|
1/1/09
to 12/31/09
|
One
Million Dollars
|
||
4
|
1/1/10
to 12/31/10
|
One
Million Dollars
|
||
5
|
|
1/1/11
to 12/31/11
|
|
One
Million Dollars
|
2.
Except as specifically amended herein, the Agreement is ratified and affirmed in
all respects.
EXECUTED on the day and year
first written above:
OMNIRELIANT
CORP.
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By:
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Xxxxx
X. Xxxxxxxx, President
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KRH
LICENSING COMPANY, LLC
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By:
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Xxxxxxx
Xxxxxx, President
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Ms. Xxxxx
Xxxxxx warrants and represents that should there be a successor entity to the
rights to the XXXXX XXXXXX trademark, such successor shall assume the
obligations and succeed to the rights of the Licensor and the rights of Licensee
shall continue unaffected.
ACKNOWLEDGE and
APPROVED:
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Xxxxx
Xxxxxx
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Dated:
May ___, 2007