AMENDMENT NO. 1
TO
MANAGEMENT SERVICES AGREEMENT
DATED SEPTEMBER 23, 1998
This AMENDMENT (the "Amendment") dated as of September 23, 1998, is entered into
by and between Bolle Inc., a Delaware Corporation ("Bolle"), Lumen Technologies,
Inc. (f/k/a BEC Group, Inc.), a Delaware Corporation ("Lumen") and Xxxxxx
Holdings, Inc. a Delaware Corporation ("Xxxxxx").
RECITALS:
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A. Lumen and Bolle are parties to that certain Management Services
Agreement dated as of March 11, 1998 (the "Agreement").
B. The parties mutually desire to amend the Agreement on the terms and
conditions set forth more fully below.
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth
in this Amendment, and for other good and valuable consideration, receipt of
which is acknowledged hereby, the parties agree as follows:
AGREEMENTS:
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1. All references to "BEC Group, Inc." and "BEC" are hereby amended and
changed to "Xxxxxx Holdings, Inc." and "Xxxxxx", respectively.
2. Section 3.1 of the Agreement is hereby amended to change the monthly
fee from A$60,000" to A$50,000" per month.
3. Section 6 of the Agreement is hereby amended in its entirety to read as
follows:
"Terms. The initial term if this Amendment to the Agreement shall
commence as of January 1, 1999 and shall continue through and include
the 4th (fourth) anniversary of this date. Thereafter, the term of this
Agreement shall automatically continue in full force and effect for
succeeding one-year periods unless either Bolle or Xxxxxx shall give
notice of termination to the other no later than ninety (90) days prior
to the expiration of the initial term, or any renewal term then in
effect, as the case may be. The respective rights and obligations of
Bolle and Xxxxxx which have accrued hereunder at the time of expiration
of this Agreement shall not be affected by such expiration."
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above.
Lumen Technologies, Inc. Bolle Inc. Xxxxxx Holdings, Inc.
By: /s/Xxxxxxx X. Xxxxx By: /s/Xxxx Xxxxxxxxx By: /s/Xxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxx, CEO Xxxx Xxxxxxxxx, CEO Xxxxxx X. Xxxxxxxx
