Amendment No. 1 to Consulting Agreement between Lenox Group Inc. and Carl Marks Advisory Group LLC (January 24, 2007)

Summary

Lenox Group Inc. and Carl Marks Advisory Group LLC have amended their consulting agreement to add a Managing Director from CMAG, who will help develop Lenox's 2007 business plan and assist with financial analysis. For these additional services, Lenox will pay CMAG $50,000 per month, with the work expected to last about two months. The January 2007 fee will be prorated. All other terms of the original agreement remain unchanged.

EX-10.52 5 lenox071151_ex10-52.htm AMENDMENT TO CONSULTING AGREEMENT DATED 1-24-2007 Exhibit 10.52 to Lenox Group Inc. Form 10-K for fiscal year ended December 30, 2006

Exhibit 10.52

 

AMENDMENT No. 1, dated as of January 24, 2007, to CONSULTING AGREEMENT dated as of January 3, 2007 (the “Agreement”) by and between Lenox Group Inc., with principal offices at One Village Place, 6436 City West Parkway, Eden Prairie, MN 55344 (“LGI” or the “Company”) and CARL MARKS ADVISORY GROUP LLC, with principal offices at 900 Third Avenue, 33rd Floor, New York, NY 10022 (“CMAG” or “Consultant”).

 

1.

Scope

 

Section 2 of the Agreement (captioned “Scope”) shall be amended as follows:

 

CMAG will provide LGI another financial management resource with the addition of a Managing Director on a monthly basis to assist in the development of the 2007 business plan incorporating cost savings and profit improvement actions plans to be developed in conjunction with LGI management and to assist in financial analysis and modeling related to the overall business, segment profitability and balance sheet tasks.

 

2.

Compensation

 

Section 4 of the Agreement (captioned “Compensation”) shall be amended as follows:

 

For the services provided by this additional Managing Director, LGI shall pay CMAG a fee of $50,000 per monthly period. LGI shall pay the fixed monthly fee to CMAG on the first day of each monthly period in which these additional consulting services are to be provided. It is estimated that the work to be performed by this additional resource will require approximately two months to complete. It is understood that the monthly fee for January 2007 will be pro rated based on the days actually worked in this month.

 

3.

Continued Binding Effect of Agreement

 

Except as specifically modified in this Amendment No. 1, the Agreement as heretofore amended shall continue in full force and effect and, as modified herein, shall be binding in all respects on the parties hereto.

 




IN WITNESS WHEREOF the parties have executed and delivered this Amendment No. 1 as of the date first above written.

 

 

 

 

 

LENOX GROUP INC.

 

 

 

 

 

By: 

 

 

 

Stewart M. Kasen
Lead Director

 

 

 

 

CARL MARKS ADVISORY GROUP LLC

 

 

 

 

 

By: 

 

 

 

Marc L. Pfefferle
Partner