Ambassadors INTERNATIONAL. INC.
Exhibit 10.23
Ambassadors
INTERNATIONAL. INC.
February 13, 2001
Mr. Xxxx Xxxxxx
Chairman of the Board
People to People International
P. O. Box 7738
Long Beach, CA. 90807
Re: General Contract, dated April 1, 1995, regarding adult exchange programs; General Contract, dated April 1, 1995, regarding student ambassador programs; Consent to Assignment Agreement, dated August 3, 1995; General Contract, dated February 12, 1999, regarding adult sports-related travel and exchange programs; and General Contract, dated February 12, 1999, regarding student and youth sports-related travel and exchange programs.
Dear Xxxx:
As we have indicated to you, Ambassadors International, Inc. (“Ambassadors”) is contemplating a spin-off of its wholly-owned subsidiary, Ambassadors Education Group, Inc. (“AEG”), which is the parent of Ambassador Programs, Inc. In connection therewith, we request that People to People International consent to the assignment by Ambassadors of all of its right, title and interest in the above-referenced agreements to AEG, and release Ambassadors from any and all obligations thereunder.
If the foregoing is acceptable to you, please sign below.
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Very truly yours,
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Ambassadors International, Inc.
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By:
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/s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx
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Chief Executive Officer
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AGREED TO AND ACCEPTED:
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People to People International
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People to People International
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By:
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/s/ Xxxx Xxxxxx,
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By:
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/s/ Xxxxxxx X. Xxxxxx
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Xxxx Xxxxxx,
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Xxxxxxx Xxxxxx
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Chairman of the Board
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President
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ASSPTPAI
0000 Xxxxxxxxx Xxxxxx
Newport Beach. California 00000-0000
Tel: 000.000.0000
Fax: 000.000.0000
