EXHIBIT 10.10
AMENDMENT TO US CORPORATE SERVICES, INC. AGREEMENT WITH
HEALTH & NUTRITION SYSTEMS INTERNATIONAL, INC.
THIS AMENDMENT to the Letter Agreement dated January 19, 2000 by and
between US CORPORATE SERVICES, INC. ("U.S.C.S.") of [P.O. Xxx 000, Xxxxxxxx, XX
00000]* 00 0/0 Xxxxxxxx Xx., Xxxxxxxxx, XX, 00000, and HEALTH & NUTRITION
SYSTEMS INTERNATIONAL, INC. ("HNS") of 0000 Xxxxxxxxxx Xxxx, Xxxxx #0, Xxxx Xxxx
Xxxxx, XX 00000 (the "Agreement") is entered into on this ____ day of February,
2001.
RECITALS:
WHEREAS, HNS and U.S.C.S. desire to amend their Agreement as set forth
in this Amendment;
NOW, THEREFORE, in consideration of the promises and covenants
contained herein and other good and valuable consideration, the receipt and
adequacy of which are acknowledged, the parties hereby agree as follows:
1. U.S.C.S. acknowledges and agrees that the Term (as defined
in the Agreement) ended on march 19, 2000, sixty (60) days after January 19,
2000.
2. The first sentence of Section II of the Agreement is hereby
replaced in its entirety by the following:
If a Transaction is consummated during the Term of the
Agreement or within eighteen (18) months after the end of the Term with an
investor or lender listed on Exhibit A attached hereto, HNS will pay or cause to
be paid to U.S.C.S. a placement fee equal to ten percent (10%) of any Senior
Financing (the "Placement Fee"); provided, however, U.S.C.S. shall be entitled
to such Placement Fee only if (i) such investor or lender was directly
introduced to HNS by U.S.C.S. during the Term; and (ii) U.S.C.S. actively
participates in the negotiation and consummation of a Transaction with that
investor or lender. [U.S.C.S. shall not be entitled to any fee if either of the
two conditions set forth in the preceding sentence are not met.]* (BTM)
3. Section IV of the Agreement is hereby replaced in its
entirety by the following:
The Agreement is terminated automatically on the expiration of
the Term. No termination shall effect U.S.C.S.'s right to compensation earned on
or prior to such termination (including, without limitation, the Placement Fee
described in Section II of the Agreement).
4. Both U.S.C.S. and HNS agree to amend Section VIII of the
Agreement to remove the second & third sentences thereof.
5. The Agreement, to the extent it has not been modified by
this Amendment shall remain in full force and effect.
This Amendment may be executed in counterparts and by
facsimile, all of which counterparts taken together will constitute an original.
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first above written.
HEALTH & NUTRITION SYSTEMS
INTERNATIONAL, INC., a Florida
corporation
By: /s/ Xxxxxx Xxxxxxxxx
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Name: Xxxxxx Xxxxxxxxx
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Title: CEO
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Date: 2-16-2001
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US CORPORATE SERVICES, INC., a
Florida corporation
By: /s/ X.X. XxXxx
------------------------------------------
Name: Xxxxx X. XxXxx
------------------------------------------
Title: CEO
------------------------------------------
Date: 2-22-2001
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*Deleted in Original.
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EXHIBIT A
(1) Xxxxxx Xxxxxxx (6) Xxxxxxx Xxxxxx
Summit Bank Gruntal & Co.
000 Xxxxxx Xxxxxx Xxx Xxxxxxx Xxxxx
Xxxxxxxx, X.X. 00000 Xxx Xxxx, XX 00000-0000
000-000-0000 000-000-0000
(2) Xxxxxxx XxXxxxx (7) RANA Investment Corp.
CCRI Attn: Xxxxx Xxxx
0000 X. Xxxxx Xxxx Xx., XXX 000 Xxxxx Xx.
Xxxxxxx, XX 00000 X.X. Xxx 00000
000-000-0000 Xxxxxx, Xxxxx Xxxxxx 11545
001-9661-462-6262
(3) Xxxxx Xxxxx (8) Xxxxxx Xxxxxx
Liberty View Capital Management, Inc. DSW Investments
000 Xxxxxx Xxxxxx, Xxxxx 0000 000 Xxxx 00xx Xxxxxx
Xxxxxx Xxxx, XX 00000 Xxx Xxxx, XX 00000
000-000-0000 000-000-0000
(4) Xxxxxx Xxxx/Xxxxxxxxx Xxx (9) [Xxxx Xxxxxxxxxx
Cornerstone Financial Co, LLC Presidential Financial Corp.
000 Xxxx 00xx Xxxxxx 00000 X. Xxxx Xxxxx Xxx.
Xxx Xxxx, XX 00000 Suite 205
000-000-0000 Xxxxx, XX 00000
000-000-0000]*
(5) Xxxxx Xxxxx Xxxxxx Xxxxx (10) Xxxxxxx XXXX
Ladenburg Xxxxxxxx Xxxxxx
000 Xxxxxxx Xxxxxx 000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000 Xxx Xxxx, XX 00000
000-000-0000 000-000-0000
(11) X.X. Xxxxxxxx (12) Xxxxx X. Xxxxxxxx
Xxxxx Xxxxxxxxxx/Xxxx Xxxxxxxx Xxxxx Xxxxxxxx
000-000-0000 000-000-0000
000 Xxxxxxxxxx Xxxx., 00xx Xxxxx 000 Xxxx Xxxxxx
Xxxxxx Xxxx, XX 00000 Xxx Xxxx, XX 00000
(13) Montrose Securities (14) May Xxxxx Group
00 Xxxx Xxxxxx, 00xx Xxxxx Hunter Singer
Xxx Xxxx, XX 00000 WTC #1
000-000-0000 New York, NY
Attn: Vinnie DeFilippio 212-775-7400
*Deleted in Original.
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