Consent to Assignment and Release Agreement between Ambassadors International, Inc. and People to People International (February 13, 2001)

Summary

Ambassadors International, Inc. seeks permission from People to People International to transfer its rights and obligations under several existing contracts related to adult and student exchange and sports travel programs to its subsidiary, Ambassadors Education Group, Inc. By signing, People to People International consents to this assignment and releases Ambassadors International, Inc. from all future obligations under these agreements. This agreement is part of a planned corporate spin-off and is effective upon acceptance by People to People International.

EX-10.23 10 ex10_23.htm ex10_23.htm

Exhibit 10.23

Ambassadors

INTERNATIONAL. INC.

February 13, 2001

Mr. Bill Dawson

Chairman of the Board

People to People International

P. O. Box 7738

Long Beach, CA. 90807

Re: General Contract, dated April 1, 1995, regarding adult exchange programs; General Contract, dated April 1, 1995, regarding student ambassador programs; Consent to Assignment Agreement, dated August 3, 1995; General Contract, dated February 12, 1999, regarding adult sports-related travel and exchange programs; and General Contract, dated February 12, 1999, regarding student and youth sports-related travel and exchange programs.

Dear Bill:

As we have indicated to you, Ambassadors International, Inc. (“Ambassadors”) is contemplating a spin-off of its wholly-owned subsidiary, Ambassadors Education Group, Inc. (“AEG”), which is the parent of Ambassador Programs, Inc. In connection therewith, we request that People to People International consent to the assignment by Ambassadors of all of its right, title and interest in the above-referenced agreements to AEG, and release Ambassadors from any and all obligations thereunder.

If the foregoing is acceptable to you, please sign below.

		Very truly yours,
		Ambassadors International, Inc.


		By:	/s/ John Ueberroth
			John Ueberroth
			Chief Executive Officer

AGREED TO AND ACCEPTED:
People to People International				People to People International


By:	/s/ Bill Dawson,			By:	/s/ William D. Jarvis
	Bill Dawson,				William Jarvis
	Chairman of the Board				President

ASSPTPAI

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