Exhibit 10.52
AMENDMENT NO. 1 TO
CONSULTING AGREEMENT
by and between
I.C. ▇▇▇▇▇▇ & COMPANY, INC.
and
▇▇▇▇ ▇▇▇▇▇▇▇▇
THIS AMENDMENT NO. 1, dated as of February 11, 1999, is made a part of
that certain CONSULTING AGREEMENT (the "Agreement"), dated as August 27, 1998,
by and between I. C. ▇▇▇▇▇▇ & Company, Inc. (the "Company"), and ▇▇▇▇ ▇▇▇▇▇▇▇▇
(the "Consultant"). It is intended by the parties that the terms of this
Amendment No. 1, to the extent that they are more specific than the terms
contained in the Agreement, or to the extent that they should conflict with the
terms contained in the Agreement, shall supersede the terms of the Agreement.
Section numbers utilized in this Amendment No. 1 correspond, where applicable,
to section numbers used in the Agreement.
W I T N E S S E T H:
Accordingly, in consideration of the mutual covenants and
representations contained herein and the mutual benefits derived herefrom, the
parties hereto agree as follows:
1. Paragraph 2 is hereby restated in its entirety as follows:
2 TERM. This Agreement shall begin August 27, 1998 and shall continue
until August 27, 2000 (the "Term"), unless earlier terminated in
accordance with the terms hereof.
2. Paragraph 3 is hereby restated in its entirety as follows:
3. FEE. The Consultant's fee (the "Fee") for providing services to the
Company during the Term under the terms and conditions of this
Agreement shall be at the rate of Two Hundred Seventeen Thousand
Dollars ($217,000) per annum. Such Fee shall be increased to Two
Hundred Forty-Seven Thousand Dollars ($247,000) per annum for the
remainder of the Term after the Company achieves positive net earnings
in two consecutive fiscal quarters.
IN WITNESS WHEREOF, the parties have executed and delivered this
Amendment No. 1 on the date first above written.
ATTEST: I.C. ▇▇▇▇▇▇ & COMPANY, INC.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇
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Secretary ▇▇▇▇▇▇ ▇. ▇▇▇▇, President
WITNESS: CONSULTANT
/s/ ▇▇▇▇▇ ▇. Derencz By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇
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