Amendment No. 1 to Exclusive Distributorship Agreement between Royal Grip, Inc. and Precision FM Japan, Ltd.

Summary

Royal Grip, Inc. and Precision FM Japan, Ltd. have agreed to amend their original exclusive distributorship agreement for Royal Grip products in the Far East and Southeast Asia. This amendment changes the term of the agreement, setting the initial period to end on January 31, 2002, with the option for Precision to renew for additional two-year terms if not in default. All other terms of the original agreement remain unchanged.

EX-10.37 6 ex-1037.txt AMEND. NO. 1 TO AGREEMENT Exhibit 10.37 AMENDMENT NO. 1 THIS AMENDMENT NO. 1 (the "Amendment") is made and entered into as of July 11, 2001, by and between ROYAL GRIP, INC., an Arizona corporation ("Royal Grip"), and PRECISION FM JAPAN, LTD., a Japanese corporation ("Precision"). RECITALS WHEREAS, the parties entered into an agreement, dated July 12, 1991, for the exclusive distributorship of Royal Grip Products in the Far East and Southeast Asia (the "Agreement"); WHEREAS, the parties have determined to modify the Agreement in the manner hereinafter set forth. NOW THEREFORE, the parties hereby agree as follows: Section 1. AMENDMENT. Section 3 is hereby amended in its entirety to read as follows: 3. TERM. The initial term of this Agreement shall be for the period beginning the date hereof, such date being the "Effective Date" and ending January 31, 2002. If, at the end of the initial term, Precision is not in default of any of the terms contained herein, it may renew the Agreement for additional, successive, two-year terms on the terms and conditions agreed. Section 2. CONTINUING VALIDITY. Except as amended herein, the provisions of the Agreement shall remain unchanged and in full force and effect. All references to the Agreement hereafter shall be deemed to mean and refer to the Agreement, as amended by this Amendment. IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written. ROYAL GRIP, INC. By: /s/ Thomas A. Schneider ---------------------------------- Name: Thomas A. Schneider Title: President PRECISION FM JAPAN, LTD. By: /s/ Sadami Nishioka ---------------------------------- Name: Sadami Nishioka Title: President