Extension of Consulting Agreement between Interstate Brands Corporation and Timpanogos Consulting LLC (March 2008)

/s/ Gary K. Wandschneider

Gary K. Wandscheider

Summary

Interstate Brands Corporation and Timpanogos Consulting LLC agree to extend their existing consulting agreement, originally set to expire on March 29, 2008, until April 21, 2008. The consultant, Gary K. Wandschneider, will continue to provide services at the same hourly rate and terms, with compensation not subject to holdback during the extension. All other terms of the original agreement remain unchanged. This extension ensures continuity of consulting services as the company navigates its bankruptcy proceedings.

EX-10.24.1 3 c25736exv10w24w1.htm EXTENSION OF CONSULTING AGREEMENT exv10w24w1

Exhibit 10.24.1

March 25, 2008

Mr. Gary K. Wandschneider
Timpanogos Consulting LLC
79 Silver Hill Road
Ridgefield, Connecticut 06877

RE: Extension of Consulting Agreement

Dear Gary:

This letter is being sent in reference to the Consulting Agreement dated July 27, 2007, and effective June 30, 2007, between Interstate Brands Corporation (“IBC”) and Timpanogos Consulting LLC (“Consultant”). As you are aware, the Consulting Agreement is scheduled to expire on March 29, 2008. While IBC has not yet finalized its strategy for exiting its pending bankruptcy proceedings, your continued service is of great importance to the company’s future. Therefore, we would like to extend the current Consulting Agreement until April 21, 2008, in order to coincide with the expiration date of other executive consulting agreements. During the extension, your rate of compensation will remain at $750 per hour (limited to 50 hours per week) but will not be subject to any holdback. All holdback amounts earned through March 29, 2008, will be paid to you upon receipt of your invoice for services through that date. All other terms and conditions under the Consulting Agreement shall remain in full force and effect during the extension.

If you are in agreement to extend the Consulting Agreement, please sign below and return a copy of this letter to me for our files. IBC has benefited greatly from your expertise during your engagement and we are looking forward to our continued relationship.


	Sincerely,
	/s/ Craig D. Jung

	Craig D. Jung Chief Executive Officer

Agreed and Accepted:

TIMPANOGOS CONSULTING LLC