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Exhibit: 10.18FD
ADDENDUM TO AGREEMENT
This Addendum to Agreement by and between K & K International, a
Michigan corporation and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, herein collectively called "Inventor",
and ▇▇▇▇ ▇. ▇▇▇▇▇, III and ▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇, herein collectively called
"▇▇▇▇▇▇".
WHEREAS, Inventor and ▇▇▇▇▇▇ entered into an Agreement dated 18th day
of December, 1986, wherein ▇▇▇▇▇; obtained exclusive worldwide rights to
manufacture and market certain products created by Inventor; and
WHEREAS, the parties have agreed to a modification of such Agreement.
NOW THEREFORE, in consideration of the mutual covenants of the parties
it is agreed as follows:
1. ▇▇▇▇▇▇ agree that the total royalties and commissions paid pursuant
to the terms of paragraph 9 of the original Agreement shall equal or exceed,
during each calendar year of the Agreement, the sum of Thirty Thousand Dollars
($30,000.00).
2. In the event, during any calendar year of this Agreement, the total
payments of royalties and commissions does not equal or exceed Thirty Thousand
Dollars ($30,000.00), ▇▇▇▇▇▇, in their sole discretion, may:
a. Pay to Inventor, on or before February 1 of the year
following the calendar year in question, a sum equal to Thirty Thousand
Dollars ($30,000.00) less the total amount of commissions and royalties
paid during said preceding calendar year; or
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b. Elect, in writing, on or before February 1 of the year
following the calendar year in question, to terminate the original
Agreement of December 18, 1986. In the event ▇▇▇▇▇▇ choose this option,
▇▇▇▇▇▇ shall have no further rights or obligations under said
Agreement.
In all further respects the parties ratify and confirm the terms of the
original Agreement dated December 18, 1986.
K & K INTERNATIONAL
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇, III /s/ ▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇, III ▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇
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