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EXHIBIT 10.58
FIRST AMENDMENT
TO OPTION AGREEMENT
This First Amendment to Option Agreement is hereby made to amend that
certain Option Agreement entered into by and between D. Xxxxxxx Xxxxx, an
individual, and TTO Partners, a California limited partnership, on the one hand
(collectively, "Optionors"), and Sports Club, Inc. of California, a California
corporation ("Optionee"), on the other, on October 20, 1994 ("Option
Agreement") as follows:
1. Paragraph 3.1 is hereby amended by deleting the first line thereof and
adding in its place and stead the following:
"3.1. The date, if any, upon which Optionors cease to control at a
minimum 15% of the outstanding Common Stock of The Sports Club Company, Inc.;
or"
2. All other terms and conditions of the Option Agreement shall remain in
full force and effect.
Dated as of May 27, 1997
OPTIONORS: /s/ D. Xxxxxxx Xxxxx
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D. Xxxxxxx Xxxxx, an individual
TTO Partners,
a California limited partnership
By: Talla Development Company,
a California corporation, as
General Partner
By: /s/ D. Xxxxxxx Xxxxx
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D. Xxxxxxx Xxxxx, President
OPTIONEE; Sports, Club, Inc. of California,
a California corporation
By: /s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, President