AMENDATORY AGREEMENT
Exhibit 10.14
This Amendatory Agreement (the “Agreement”) is entered into as of December 18, 2000, between BRW Acquisition, Inc., a Delaware corporation (the “Company”) and ▇▇▇▇▇▇ Capital Corp. LLC (“▇▇▇▇▇▇ Capital”).
WHEREAS, the Company and ▇▇▇▇▇▇ Capital entered into a letter agreement dated as of July 9, 1998 (the “Letter Agreement”), whereunder ▇▇▇▇▇▇ Capital agreed to provide management, consulting and financial services to the Company and the Company agreed to retain ▇▇▇▇▇▇ Capital to provide such services pursuant to the terms contained therein (including the payment by the Company to ▇▇▇▇▇▇ Capital of a fee (the “Fee”) equal to $250,000 per calendar year to ▇▇▇▇▇▇ Capital in consideration of its provision of such services);
WHEREAS, effective as of September 1, 2000, ▇▇▇ ▇▇▇▇▇▇, Managing Member of ▇▇▇▇▇▇ Capital, commenced performing services for the Company in the capacity of Acting Chief Executive Officer thereof, and in consideration therefor, the Company has agreed to increase the Fee to $600,000 per calendar year, effective retroactively to January 1, 2000.
NOW THEREFORE, to implement the foregoing and for good and valuable consideration, the parties to this Agreement agree as follows:
1. Paragraph 1 of the Letter Agreement is amended by replacing the phrase “two hundred and fifty thousand dollars ($250,000)” with the phrase “six hundred thousand dollars ($600,000), commencing as of January 1 2000”.
2. ▇▇▇▇▇▇ Capital hereby acknowledges receipt of payment from the Company of all amounts necessary to bring the Company current, as of September 1, 2000, in its obligations to ▇▇▇▇▇▇ Capital pursuant to the newly amended Paragraph 1 of the Letter Agreement.
3. As amended by this Agreement, the Letter Agreement shall continue in full force and effect in accordance with the terms thereof.
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▇▇▇▇▇▇ CAPITAL CORP. LLC |
BRW ACQUISITION, INC. |
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By: |
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ |
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By: |
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇ |
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Name: |
▇▇▇▇▇ ▇. ▇▇▇▇▇▇ |
Name: |
▇▇▇▇▇ ▇▇▇▇▇▇ |
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Title: |
Managing Member |
Title: |
President |
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