Amendment to Services Agreement between Barington Capital Group, L.P. and L Q Corporation, Inc.

Summary

This amendment, effective March 1, 2006, modifies the existing Services Agreement between Barington Capital Group, L.P. and L Q Corporation, Inc. The main change is a reduction in the monthly fee paid by the Company to Barington Capital Group from $15,000 to $10,000. All other terms of the original agreement remain in effect. Both parties have agreed to and ratified this amendment.

EX-10.86 2 b413299_ex10-86.txt EXHIBIT 10.86 Exhibit 10.86 AMENDMENT TO SERVICES AGREEMENT This amendment ("Amendment") is dated as of May 10, 2006 by and between Barington Capital Group, L.P., a New York limited partnership with an address at 888 Seventh Avenue, 17th Floor, New York, New York 10019 ("BCG"), and L Q Corporation, Inc., a Delaware corporation with an address at 888 Seventh Avenue, 17th Floor, New York, New York 10019 (the "Company"). RECITALS: WHEREAS, the Company and BCG are parties to that certain Services Agreement, dated as of November 18, 2004, which agreement was amended as of January 1, 2005 (as amended, the "Agreement"); and WHEREAS, the Company and BCG desire to amend the Agreement as set forth herein. NOW, THEREFORE, in consideration of the mutual covenants expressed herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 1. Section 3A of the Agreement is hereby amended to decrease the monthly fee payable by the Company to BCG from $15,000 to $10,000. 2. This Amendment shall be effective as of March 1, 2006. The Agreement, as amended by this Amendment, is in full force and effect and is hereby ratified and confirmed. 3. This Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their authorized representative as of the date set forth above. BARINGTON CAPITAL GROUP, L.P. By: LNA Capital Corp., General Partner By: /s/ James A. Mitarotonda ------------------------------------------- James A. Mitarotonda Chairman and CEO L Q CORPORATION, INC. By: /s/ William J. Fox ------------------------------------------- William J. Fox President and CEO