SECOND AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
Exhibit 10.10.1
SECOND AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
Second Amendment (the “Amendment”), dated March 8, 2017 and effective as of January 1, 2017, to Management Services Agreement, effective January 1, 2013, as amended effective as of January 1, 2015 and dated May 5, 2015 (as so amended, the “Management Agreement”), between Scores Holding Company, Inc., a Utah corporation (“Scores”), and Metropolitan Lumber, Hardware and Building Supplies, Inc., a New York corporation (“MLH”). Capitalized terms not defined in this Amendment shall have the meanings ascribed to such terms in the Management Agreement.
WITNESSETH:
WHEREAS, pursuant to the Management Agreement, MLH provides management, compliance and other services to the Business;
WHEREAS, Scores and MLH desire to amend the Management Agreement to remove the requirement that MLH provide the Services of Xxxxxx X. Xxxx pursuant to the Management Agreement.
NOW, THEREFORE, in consideration of the covenants and conditions set forth herein, and other good and valuable consideration, the parties hereto agree as follows:
1. Amendment of Management Agreement. Schedule A to the Management Agreement is hereby amended to delete the reference to Xxxxxx X. Xxxx under the heading, “Provision of Executive Officers.” Schedule A, as so amended, is annexed hereto and made a part hereof.
2. Management Agreement Remains in Effect. Except as expressly set forth herein, all of the terms and provisions of the Management Agreement shall remain in full force and effect and the parties hereto make no other amendment, alteration or modification of the Management Agreement nor do they, nor does any of them, by executing this Amendment, waive any provision of the Management Agreement or any right that they or any of them may have thereunder.
3. Miscellaneous. The parties hereby agree that the provisions of Paragraph 8 of the Management Agreement shall apply to this Amendment with full force and effect as if fully set forth herein.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered as of the date first above written.
SCORES HOLDING COMPANY, INC. | ||
By: | /s/ Xxxxxx X. Xxxx | |
Name: | Xxxxxx X. Xxxx | |
Title: | President and Chief Executive Officer | |
METROPOLITAN HARDWARE, LUMBER AND BUILDING SUPPLIES, INC. | ||
By: | /s/ Xxxxxxx Xxxxx | |
Name: | Xxxxxxx Xxxxx | |
Title: | Vice President | |
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SCHEDULE A
TO MANAGEMENT SERVICES AGREEMENT
SCORES HOLDING COMPANY, INC.
AND
METROPOLITAN LUMBER, HARDWARE AND BUILDING SUPPLIES, INC.
Provision of Executive Officers
Provision of Xxxxxx Xxxxxxxxxx to serve as Treasurer, Chief Financial Officer, Secretary and a director of Scores
Management Services
Strategic planning
Contracting (including but not limited to negotiating license agreements with prospective licensees) and contract compliance
Identification and development of new commercial avenues for exploitation of the Scores brand
Marketing
Financial reporting and accounting services
Retention and interface with independent auditors and counsel
Investor relations
Compliance with the requirements of federal and state securities laws, including but not limited to the periodic reporting provisions thereof
Compliance with the requirements of any securities exchange or reporting service on which Scores’ common shares are traded
Arrangement/management of domestic bank facilities
Assistance in identifying/retaining key personnel and other service providers
Cash flow management
Service with respect to potential acquisitions
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