Amendment No.2 to License Agreement
EXHIBIT
(H)(16)
Amendment
No.2 to
This
Amendment No. 2 to the License Agreement dated April 16, 2001, between Dow
Xxxxx
& Company, Inc. (“Dow Xxxxx”) and North Track Funds, Inc. (“Licensee”) (the
“License Agreement”), as previously amended on January 1, 2004, is amended as of
this 14th
day of
July 2006, with a retroactive effective date of April 16, 2006 (the “Amendment
Effective Date”).
WHEREAS,
Dow Xxxxx and Licensee have heretofore entered into the License Agreement
pursuant to which Dow Xxxxx allows the Licensee to use the Indexes and Dow
Xxxxx
Marks (as defined in the License Agreement) subject to the terms and conditions
agreed upon in the License Agreement;
WHEREAS,
the License Agreement expired on April 16, 2006 and the parties would like
to
extend the term of the License Agreement as set forth herein;
NOW,
THEREFORE, for good and valuable consideration, the parties hereby agree as
follows:
1. The
term
of the License Agreement shall be extended for an additional period of one
(1)
year until April 16, 2007, unless this Agreement is terminated earlier as
provided herein (such term being referred to herein as the "First
Renewal Term").
At
the end of the First Renewal Term, this Agreement shall automatically renew
for
successive one-year periods (each, a “Subsequent Renewal Term”) unless either
party terminates the Agreement by providing the other party a written notice
to
that effect one hundred twenty (120) days prior to the end of the then-current
term. (The Initial Term, the First Renewal Term and any Subsequent Renewal
Term(s), collectively shall be referred to as the “Term”.) Dow Xxxxx shall have
the right to modify the Licensee fees payable hereunder at the end of the First
Renewal Term and each Renewal Term by providing Licensee one hundred twenty
(120) days written notice of such modification. If Licensee objects to such
modification, Licensee shall have the right to terminate the Agreement by
providing Dow Xxxxx written notice of termination within thirty (30) days of
receipt of notification of the modification
2. Except
as
expressly amended hereby, the Agreement is, and shall remain, in full force
and
effect and each and every term and condition thereof is hereby confirmed,
continued and ratified.
IN
WITNESS WHEREOF, the parties hereto have executed or caused to be executed
this
Amendment as of the date set forth below.
DOW
XXXXX & COMPANY, INC.
|
NORTH
TRACK FUNDS, INC.
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/s/
Xxxxxxx X. Xxxxxxxxxx
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/s/
Xxxxxxxx X. Xxxxxx
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By:
Xxxxxxx X. Xxxxxxxxxx
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By:
Xxxxxxxx X. Xxxxxx
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Title:
President, Dow Xxxxx Indexes
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Title: Treasurer and Chief Financial Officer |
Date:
7/28/06
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Date:
7/21/06
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