Exhibit(e)(29)
[VICTORINOX SWISS ARMY LOGO]
Victorinox AG
CH-▇▇▇▇
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Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇.
Dear ▇▇▇▇▇▇▇:
This letter sets forth our agreement with respect to certain amounts owed
by Victorinox-Swiss Army Watch, S.A. ("VSA") to Victorinox AG ("Victorinox") in
respect of funds, property and services provided by Victorinox to VSA, including
without limitation in respect of: (i) funds provided by Victorinox for the
construction of a trade show booth, purchases of inventory and certain other
operating expenses, (ii) the allocated costs of occupying a portion of
Victorinox's factory, and (iii) compensation paid by Victorinox to certain of
its employees who provide services to VSA, and for reinbursement for other
out-of-pocket costs incurred by Victorinox on behalf of VSA.
For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Victorinox and VSA hereby agree as follows effective as
of June 20, 2002 (the "Effective Date"):
1. Of the total amount owed by VSA to Victorinox as of the Effective
Date, CHF 5,200,000 (the "Payable") shall be due and payable on October 15,
2003.
2. The unpaid portion of the Payable shall bear interest from the
Effective Date until such Payable is paid, at the rate of [1.5%] per annum.
3. The Payable may be prepaid, in whole or in part, at any time and from
time to time, without penalty.
If the foregoing correctly sets forth our agreement as to the matters set
forth, please sign and return to me a copy of this letter.
Very truly yours,
VICTORINOX-SWISS ARMY WATCH, S.A.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, President
ACCEPTED AND AGREED
as of June 20, 2002
VICTORINOX AG
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇., President
ny-429775
VICTORINOX SWISS ARMY WATCH SA ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇
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