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EXHIBIT 10.13.1
[LOGO]
[WORLD WRESTLING FEDERATION(R)]
December 3, 1997
Mr. Xxxx Xxxxxxxx
President
JAKKS Pacific, Inc.
00000 Xxxxxxx Xxxxx Xxxxxxx, Xxxxx 000
Xxxxxx, XX 00000
Re: Titan Sports, Inc. ("Titan")-w- JAKKS Pacific, Inc. ("Licensee")
Dear Xx. Xxxxxxxx:
Reference is hereby made to that certain License Agreement between the parties
dated February 10, 1997 ("Agreement"). For good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties have
agreed to amend the Agreement as follows ("First Amendment"):
1. The parties hereby amend Paragraph 1(e) of the Agreement to add the
following articles:
"Articulated and non-articulated, talking and non-talking figures from 8" and
up in size, and mini figures from 2" and under (sold separately or in mini
wrestling environments, such mini wrestling environments must not include
vehicles or motorcycles) made from a variety of materials and constructions,
including but not limited to PVC and vinyl, styrene and/or other plastic
materials, resin and stretch material; accessories and other articles not
expressly created to be sold for use with the figures; play sets, dioramas and
environments designed to interact with said figures; non-electronic
role-playing toys, defined as dress-up sets and accessories, microphones,
uniforms, costumes, collector cases for figures; puzzles; skill and action
games; and 6" and up fabric, soft body filled toys in the shape of wrestlers.
Figures to be sold separately or in diorama scenes. None of these Licensed
Products are to be operated by remote control or radio control or to be made
from die cast material. Electronic games, electric games, electronic stretch
figures, card games, target games and tug-of-war games are also excluded from
the Licensed Products."
2. The parties hereby amend Paragraph 4(c) the Agreement as follows:
"4(c) Guaranteed Royalties. If the total of all royalties payable to Titan
under subparagraphs 4(a) and 4(b) of the Agreement is less than the Guaranteed
Royalty Amounts set forth below, the Licensee shall pay Titan, on or before the
dates stated in the payment schedule below, the difference between the
Guaranteed Royalty Amount due for the periods stated below and the total of the
royalties paid to Titan under subparagraphs 4(a) and 4(b):
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DUE DATE PAYMENT
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December 31, 1997 US $ 50,000.00
December 31, 1998 US $ 75,000.00
December 31, 1999 US $ 75,000.00
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Total US $200,000.00
3. This First Amendment shall not be executed by Titan and shall
therefore not be valid unless and until Titan receives a copy of a fully
executed agreement between Licensee and Playmates Toys, Inc. ("Playmates")
assigning to Licensee the rights granted to Playmates by Titan under a letter
of agreement between Titan and Playmates dated June 3, 1996.
All terms not defined herein shall have the same meaning given them in the
Agreement. Except as expressly or by necessary implication modified hereby,
the terms and conditions of the Agreement are hereby ratified and confirmed
without limitation or exception.
Please confirm acceptance of the First Amendment as set forth above on behalf
of Licensee in the space provided below on each of the enclosed two (2) copies
and return them to me. One fully executed copy will be returned to you for
your records.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
ACCEPTED AND AGREED:
JAKKS PACIFIC, INC.
("LICENSEE")
By: /s/ Xxxx Xxxxxxxx
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Its: CEO
TITAN SPORTS, INC.
("TITAN")
By: /s/ Xxxxx X. XxXxxxx
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Xxxxx X. XxXxxxx
President and CEO
