AMENDATORY AGREEMENT

EX-10.15(B) 33 f8k0211ex10xvb_adsinmotion.htm AMENDMENT NO. 1 TO LICENSE AGREEMENT WITH STANLEY LOGISTICS, INC. f8k0211ex10xvb_adsinmotion.htm
Exhibit 10.15(b)
 
AMENDATORY AGREEMENT
 
This AMENDATORY AGREEMENT is made by and among STANLEY LOGISTICS, INC., a Delaware corporation, and THE STAKLEY WORKS, a Connecticut corporation with its principal place of business at 100 Stanley Drive, New Britain, Connecticut 06053, (collectively, "OWNER"), and MAGLA PRODUCTS, INC., a New Jersey corporation with its principal place of business at 159 South Street, P.O. Box 1934, Morristown, New Jersey 07960 ("LICENSEE").
 
WHEREAS, OWNER and LICENSEE have entered into a License Agreement dated November 2, 1998 (hereinafter "Agreement"); and
 
WHEREAS, OWNER and LICENSEE desire to modify and amend the Agreement;
 
NOW, THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, OWNER and LICENSEE agree as follows:
 
 
1.
The LICENSED TERRITORY, as set forth in EXHIBIT 2 of the Agreement, shall be deleted and replaced with the following:
 
United States, its territories and possessions, the Commonwealth of Puerto Rico, Canada, Mexico and the countries of South and Central America.
 
 
2.
The terms and conditions of the Agreement shall, except as modified and amended herein, remain in full force and effect.
 
 IN WITNESS WHEREOF, the parties hereto have executed this .Amendatory Agreement this           day of October, 1999.
 
MAGLA PRODUCTS, INC.
  
THE STANLEY WORKS
         
By:
/s/ Jordan Glatt
  
By:
/s/ Barbara B. Hunnicutt
         
Title:
President
  
Title:
Director of Licensing
         
       
     
STANLEY LOGISTICS, INC.
         
     
By:
/s/ Barbara B. Hunnicutt
         
     
Title:
Vice President
 
 
 
 
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