Exhibit 10.7
AMENDMENT NUMBER ONE TO
WAL-MART MASTER LICENSE AGREEMENT
THIS AMENDMENT NUMBER ONE TO WAL-MART MASTER LICENSE AGREEMENT is entered
into as of the 17th day of June, 2002 by and between Wal-Mart Stores, Inc., a
Delaware corporation, on behalf of itself, or alternatively, where appropriate,
on behalf of, and as authorized agent for, its affiliates, as designated in the
Wal-Mart Master License Agreement ("Licensor") and PCA International, Inc.; 000
Xxxxxxxx-Xxxx Xxxx Xxxx, Xxxxxxxx, XX 00000 ("Licensee").
WHEREAS, Licensor and Licensee entered into a License Agreement entitled
Wal-Mart Master License Agreement dated April 4, 2002, and
WHEREAS, Licensor and Licensee desire to amend the Wal-Mart Master License
Agreement as provided herein,
NOW, THEREFORE, in consideration of the obligations of Licensor and
Licensee under the Wal-Mart Master License Agreement and for other good and
valuable consideration, the receipt and sufficiency of which being hereby
acknowledged by the parties, Licensor and Licensee hereby agree as follows:
1. The next to last sentence of paragraph 19.2(b) which reads as follows:
In addition, Licensor may choose to terminate either a specific
location or the entire License agreement at Licensor's sole discretion.
shall be changed to read as follows:
In addition, Licensor may choose to terminate either a specific
location or, subject to the provisions of paragraph 26.19, the entire
License agreement at Licensor's sole discretion.
In all other respects, the Wal-Mart Master License Agreement shall remain in
full force and effect.
LICENSOR: WAL-MART STORES, INC. LICENSEE: PCA INTERNATIONAL, INC.
By: /s/ By: /s/ Xxxxx X. Xxxx
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Director Wal-Mart Realty Title: CEO
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Attest: /s/ Attest: /s/ Xxxxx Xxxxxx Xxxx, Xx.
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Assistant Secretary Secretary
