ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT
Exhibit 10.41 (Form 20F – 2005)
ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT
THIS ADDENDUM TO THE MANAGEMENT SERVICES AGREEMENT (“the Addendum” or “this Addendum”) is entered into this 31st day of July, 2005.
BETWEEN:
Bronx Ventures Inc. (formerly Lucky 1 Enterprises Inc.), a company incorporated under the laws of British Columbia having a business office at Suite #600 – 1199 West Hastings Street, Vancouver, B. C. V6E 3T5
(Hereinafter referred to as the “Company”)
OF THE FIRST PART
AND:
Bedo X. Xxxxxxxxx and Xxxxx X. Xxxxxxxxx of 0000 Xxxxxxx Xxxxx, Xxxxxxxx, XX, X0X 0X0, and 0000 Xxxx 00xx Xxxxxx, Xxxxxxxxx, X.X. X0X 0X0 respectively
(Hereinafter referred to as the “Kalpakians”)
OF THE SECOND PART
AND:
Kalpakian Bros. of B.C. Ltd., a company incorporated under the laws of British Columbia having a business office at #000 - 0000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, X.X. X0X 0X0
(Hereinafter referred to as the “Manager”)
OF THE THIRD PART
WHEREAS,
A.
The Company, the Kalpakians and the Manager entered into a Management Services Agreement on the 1st day of November, 2001, as amended by means of an Addendum dated July 1, 2003, (hereinafter collectively referred to as the “Agreement”).
AND WHEREAS
B.
The Directors of the Company approved, with the Kalpakians abstaining, by means of a Directors’ Resolution dated July 27, 2005 to increase the Monthly Management fee payable to the Manager from $20,000 plus G.S.T. per month to $30,000 plus G.S.T. per month effective as of July 1, 2005.
AND WHEREAS
C.
The parties to the Agreement wish to amend the Agreement, by means of this Addendum whereby the monthly remuneration payable to the Manager shall be increased to Cdn $30,000 (Thirty Thousand Canadian Dollars) plus G.S.T. per month effective as of July 1, 2005.
NOW THEREFORE, in consideration of the premises and mutual covenants herein set forth, the parties hereto agree as follows:
The parties to the Agreement and to this Addendum hereby agree that the monthly remuneration payable to the Manager be increased to Cdn $30,000 (Thirty Thousand Canadian Dollars) plus G.S.T. per month effective as of July 1, 2005, and that all of the other terms and conditions of the Agreement shall remain unchanged and in full force and effect.
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Addendum/ Management Services Agreement
BRONX/Kalpakian Bros. of B.C. Ltd.
JULY 31, 2005
IN WITNESS WHEREOF the parties hereto have executed this Addendum on this 31st day of July, 2005.
THE CORPORATE SEAL OF
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was hereunto affixed in the presence of:
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C/S
(signed)
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(signed)
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SIGNED SEALED AND DELIVERED BY
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BEDO X. XXXXXXXXX in the presence of:
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Signature of Witness:
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Name of Witness:
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(signed)
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BEDO X. XXXXXXXXX
Address of Witness:
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Occupation of Witness:
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SIGNED SEALED AND DELIVERED BY
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XXXXX X. XXXXXXXXX in the presence of:
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Signature of Witness:
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Name of Witness:
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(signed)
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XXXXX X. XXXXXXXXX
Address of Witness:
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Occupation of Witness:
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THE CORPORATE SEAL of
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KALPAKIAN BROS. OF B.C. LTD.
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was hereunto affixed in the presence of:
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C/S
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(signed)
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(signed)
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Addendum/ Management Services Agreement
BRONX/Kalpakian Bros. of B.C. Ltd.
JULY 31, 2005
