Amendment to Management Agreement between Infosonics Corporation and JRC, Inc. (November 1, 2001)

Contract Categories: Business Operations › Management Agreements
Summary

Infosonics Corporation and JRC, Inc. have amended their existing management agreement. Under this amendment, JRC, Inc. agrees to waive its right to receive management fees of $10,000 per month from Infosonics for November and December 2001, totaling $20,000. The amendment also clarifies how official notices between the parties should be delivered. All other terms of the original agreement remain unchanged.

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EX-10.1(B) 8 a2127258zex-10_1b.htm EXHIBIT 10.1(B)
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EXHIBIT 10.1(b)


MANAGEMENT AGREEMENT AMENDMENT

        This document dated November 1, 2001 shall serve as an amendment to the MANAGEMENT AGREEMENT ("Agreement") dated January 1, 2000 by and between Infosonics Corporation, a California corporation ("Operator") and JRC, Inc., a U.K. company ("Manager").


RECITALS

        WHEREAS, Operator owns and operates a business that is engaged in the marketing of wireless telecommunications services and equipment at 6325 Lusk Blvd., Bldg A, San Diego, California 92121 (USA) (the "Business");

        WHEREAS, Operator requires the services of a qualified management consultant to assist Operator in the management the Business; and

        WHEREAS, Manager desires to provide such management services to Operator.

        It is agreed that JRC International waives the receipt of management fees from InfoSonics Corporation in the said amount of $10,000 per month for the period of November 1, 2001 through December 31, 2001, a total of $20,000.

        6.4.  Notices.

            (a)   All notices, demands and requests contemplated hereunder by either party to the other shall be in writing, and shall be delivered by hand, transmitted by facsimile (with electronic confirmation) or telegram, or mailed, postage prepaid, registered or certified mail, return receipt requested or any nationally recognized overnight courier:

              (i)    To, Manager, by addressing the same to:

          Infosonics Corporation
          6325 Lusk Blvd., Bldg. A
          San Diego, CA 92121
          Attn: Joseph Ram, President

              (ii)   To Operator, by addressing the same to:

          JRC International
          4TH FLOOR, 50 HANS CRESENT
          KNIGHTS BRIDGE
          LONDON, SW1X ONB
          UNITED KINGDOM

    or to such other address or to such other person as may be designated by notice given from time to time during the term hereof by one party to the other. Any notice hereunder shall be deemed given three (3) days after mailing, if given by mailing in the manner provided above, or on the date delivered or transmitted if given by hand, cable or facsimile.

        IN WITNESS WHEREOF, the parties hereto have executed, sealed and delivered this Agreement through their duly authorized representatives, as of the day and year first above written.

 
    
    
    INFOSONICS CORPORATION

 
 
By:
 
/s/  JOSEPH RAM      
Name: Joseph Ram
Title: President

 
 
By:
 
/s/  ABRAHAM ROSLER      
Name: Abraham Rosler
Title: Secretary

 
 
JRC, INC.

 
 
By:
 
/s/  JOSEPH RAM*      
Name:
Title: General Manager

 
 
By:
 
Name:
Title: Secretary

 
 
* As attorney in fact

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    EXHIBIT 10.1(b)
MANAGEMENT AGREEMENT AMENDMENT
RECITALS