Amendment to Agency Agreement between SENIBELLACORP, S.A. and Agent
This amendment updates the agency agreement between SENIBELLACORP, S.A. and the Agent. The agreement will last for six months unless ended earlier. The Agent can extend the agreement for an additional four years and six months, and then for another five years, if they are not in default and meet certain order requirements. To extend, the Agent must give written notice within specific timeframes before the current term ends. The amendment is signed by SENIBELLACORP, S.A.'s President.
Exhibit 10.2
11.
Term and Termination
11.1.
Term. The term of this Agreement shall commence as of the Effective Date, and shall continue for six (6) months unless terminated earlier (“Term”). The Agent shall have the option to extend the term for an additional four (4) years, six (6) months provided that the Agent is not then in a default of this Agreement. To exercise the option, Agent must deliver written notice to Company no earlier than 60 days or later than 30 days prior to the Term expiration date and the option shall be based on satisfying the quantity order requirements set forth in the Appendix 1 and complying with the terms and conditions of this Agreement.
The Agent shall have the option to extend the term for an additional 5 years provided that the agent is not then in a default of this Agreement. To exercise the option, Agent must deliver written notice to Company no earlier than 180 days or later than 90 days prior to the Term expiration date and the option shall be based on satisfying the quantity order requirements set forth in Appendix 2 and complying with the terms and conditions of this Agreement.
/s/ Patrick Villagran |
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Agreed and signed | Date: March 27, 2012 |
President |
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SENIBELLACORP, S.A |
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