FIRST AMENDMENT TO
EXCLUSIVE LICENSE AND ROYALTY AGREEMENT
This First Amendment, made and entered into effective the 21st day of
December, 1993, by and between OXBORO OUTDOORS, INC., a Minnesota corporation
(the "Company"), and XXXXX X. XXXXXXXXX ("Xxxxxxxxx"):
W I T N E S S E T H:
WHEREAS, Xxxxxxxxx and the Company entered into an Exclusive License
and Royalty Agreement effective as of April 17, 1993 (the "Royalty Agreement");
and
WHEREAS, references are made throughout the Royalty Agreement to a
"Deferred Compensation Agreement" effective as of April 1, 1993 (the "Deferred
Compensation Agreement"), by and between Xxxxxxxxx and Oxboro Medical
International, Inc., the parent company of the Company; and
WHEREAS, the Deferred Compensation Agreement was never executed by the
parties and therefore is of no force and effect; and
WHEREAS, Xxxxxxxxx and the Company desire to amend the Royalty
Agreement to clarify and delete all references to the Deferred Compensation
Agreement contained in the Royalty Agreement; and
WHEREAS, the parties desire to identify and list the PRODUCTS that are
currently covered by the Royalty Agreement;
NOW, THEREFORE, in consideration of the premises and the mutual
promises hereinafter contained, the parties hereto agree as follows:
1. All references to the Deferred Compensation Agreement, as
identified in Section 6 of the Royalty Agreement, are hereby
deleted in their entirety, effective as of April 17, 1993, and
all references to the Deferred Compensation Agreement
contained in the Royalty Agreement are null and void and of no
force or effect.
2. The Products listed on the attached Exhibit A, which is hereby
incorporated by reference herein and made a part hereof,
constitute all of the "PRODUCTS" identified in Section 1.1 of
the Royalty Agreement and all of the Products subject to the
Royalty Agreement as of the date of this First Amendment and
shall supersede and replace all prior lists. Exhibit A
contains no products that constitute "Additional Products" as
defined in Section 3.2 of the Royalty Agreement.
3. Except as hereby amended, the Royalty Agreement remains in
full force and effect.
IN WITNESS WHEREOF, the parties have executed this First Amendment to
the Exclusive License and Royalty Agreement as of the day and year first above
written.
OXBORO OUTDOORS, INC.
By: Xxxxx Xxxxxxxxx
Its President
EXECUTIVE
/s/ Xxxxx X. Xxxxxxxxx
Xxxxx X. Xxxxxxxxx
EXHIBIT A
FIRST AMENDMENT TO
EXCLUSIVE LICENSE AND ROYALTY AGREEMENT
1. Dockpole Xxx Xxxxxx
2. Lure Hang (Deluxe)
3. Tray Liner
4. Net Holder
5. Accessory Pad (single)
6. Utility Straps
7. Hook Sheath
8. Action Sheath
9. Rattlin Rig
10. Lure Hang (Supreme)
11. Accessory Pad (double)
12. Weedless Rig
13. Colored Hooks
14. Action Hooks
15. Tackle Box Towel
16. Cork Screw Swivel
17. Scent Sleeve
18. Rod Tip Protector
19. Tackle Knife
20. Hook Protectors
21. Rattlin Rig (Deluxe)
22. Sun Shield
23. Catch and Release Swivel
24. Catch and Release Swivel No. II (no add-on)
25. Bait Container Holder
26. Mini Rod Holders (no add-on)
27. Stor All
28. Shore Track (Jet Ski Lift)
29. Leech Hook
30. Walk Way
31. Snowmobile Sled Mover
32. Dock Steps
33. Xxxxx Stor
34. Tray Liner (Deluxe) (no add-on)
35. Hawg Pad
36. Hook Holder (Rod Strap)
37. Worm Blower
38. Hook/Swivel
39. Duck Decoy Raft
40. Accessory Holder (add-on -- like shot shell holder)
41. Marker Buoy Holder
42. Dock Bumper Bracket
