Amendment to International Agency Agreement between A to Z Innovations and Fuel Doctor Holdings, Inc.
A to Z Innovations and Fuel Doctor Holdings, Inc. have amended their previous International Agency Agreement. The amendment changes the contract's effective date to August 1, 2012, and updates the minimum number of product units required to be sold each year during both the initial five-year term and a potential ten-year renewal period. The agreement outlines specific annual sales targets for both periods. Both parties have signed the amendment, confirming their acceptance of the new terms.
AGREEMENT AMENDING INTERNATIONAL AGENCY CONTRACT
This agreement ("Agreement") is entered into on this 26th day of October, 2012 (“the Effective Date”), by and between A to Z innovations, a Company incorporated under the law of Hong Kong, having its principal executive office at 12th floor, Ruttonjee House, 11 Doddell st. Central Hong Kong (the “Company”), and Fuel Doctor Holdings, Inc. (the “Agent”), hereinafter sometimes referred to collectively as “the Parties.”
For good consideration, the Parties agree as follows:
The contract between the Parties entitled “Agency Agreement” and known as “International AZ FD Agreement Revised March 27, 2012,” with an Effective Date of February 1, 2012, shall be amended as follows:
1.
The Effective Date shall been changed from February 1, 2012, to August 1, 2012.
2.
Appendix 1 shall be changed to read as follows:
Contract Year Ending: 08/01/2017 5 year initial contract: International | Minimum Number of Units Requirement |
First year (08/01/2012-08/01/2013) | 80,000 |
Second year (08/01/2013-08/01/2014) | 160,000 |
Third year (08/01/2014-08/01/2015) | 350,000 |
Fourth year (08/01/2015-08/01/2016) | 500,000 |
Fifth year (08/01/2016-08/01/2017) | 700,000 |
3.
Appendix 2 shall be changed to read as follows:
Contract Year Ending: 8/1/2027 10 Year renewal: International | Minimum Number of Units Requirement |
First year (08/01/2017-08/01/2018) | 750,000 |
Second year (08/01/2018-08/01/2019) | 1,000,000 |
Third year (08/01/2019-08/01/2020) | 1,250,000 |
Fourth year (08/01/2020-08/01/2021) | 1,200,000 |
Fifth year (08/01/2021-08/01/2022) | 1,150,000 |
Sixth year (08/01/2022-08/01/2023) | 950,000 |
Seventh year (08/01/2023-8/01/2024) | 900,000 |
Eighth year (08/01/2024-08/01/2025) | 850,000 |
Ninth year (08/01/2025-08/01/2026) | 800,000 |
Tenth year (08/01/2026-08/01/2027) | 750,000 |
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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their respective authorized representatives.
SIGNED at 23961 Craftsman Rd., Calabasas, California on this the 26th day of October, 2012.
For: Fuel Doctor Holdings, Inc
/s/ Mark H. Soffa
Mark H. Soffa
President/CEO
Capacity:
Authority:
SIGNED at 23961 Craftsman Rd., Calabasas, California on this the 26th day of October, 2012.
For:
A to Z Innovations Inc.
/s/ Assaf Tvoua
Partner
Capacity:
Authority:
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