Agreement [Addendum No. 1] - American Society for Psychoprophylaxis In Obstetrics Inc. (ASPO/Lamaze) and Lifetime Institute for Family Education Inc.
ADDENDUM TO AN AGREEMENT BETWEEN
ASPO/LAMAZE AND MEDICAL COMMUNICATIONS CORPORATION
This Addendum is entered into between the AMERICAN SOCIETY FOR
PSYCHOPROPHYLAXIS IN OBSTETRICS, INC. ("ASPO/Lamaze") and LIFETIME INSTITUTE FOR
FAMILY EDUCATION, INC. ("Life"), a successor in interest to MEDICAL
COMMUNICATIONS CORPORATION ("MCC")
WHEREAS, ASPO/Lamaze and MCC, a predecessor to Life, entered into an
October 14, 1989 Agreement between ASPO/Lamaze and Medical Communications
Corporation (the "Agreement"); and
WHEREAS, Section 20(b) of such Agreement required payment to
ASPO/Lamaze of a royalty equal to three percent (3%) of Gross Revenue per
cassette and Section 20 (c) of such Agreement required payment to ASPO/Lamaze of
an Educational Consulting Fee equal to five percent (5%) of Gross Revenue per
cassette; and
WHEREAS, throughout the Agreement ASPO/Lamaze has been paid a royalty
at a rate equal to two percent (2%) of Gross Revenue per cassette and an
Educational Consulting Fee at a rate of four percent (4%) of Gross Revenue per
cassette; it is agreed by both parties that this was a correct and complete
payment; and it is the intent of both parties that this level (i.e., 2% royalty
and 4% Educational Consulting Fee) continue in the future;
NOW, THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration receipt of which is hereby
acknowledged, the parties hereto agree as follows:
1. Section 20(b) of the Agreement shall be revised by substituting for the words
"three percent (3%)" the words "two percent (2%)."
2. The example at Section 20(b) of the Agreement shall be revised by
substituting for the words "royalty of $.156 per cassette" the words "royalty of
$.104 per cassette" and by substituting for the words "$31,200 royalty" the
words "$20,800 royalty."
3. Section 20(c) of the Agreement shall be amended by substituting for the words
"five percent (5%)" the words "four percent (4%)."
4. The Agreement shall continue in full force and effect, as amended herein.
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IN WITNESS WHEREOF, the undersigned have executed this Agreement
intending to be bound thereby effective October 14, 1989 forward.
AMERICAN SOCIETY FOR PSYCHOPROPHYIAXIS
IN OBSTETRICS, INC
Date: 12/9/92 By: /s/ Judith Lathian
------------------------- ---------------------------------
Title: President
LIFETIME INSTITUTE FOR FAMILY EDUCATION,
INC. (successor in interest to MEDICAL
COMMUNICATIONS CORPORATION)
Date: 12/7/92 By: /s/ David Diamond
------------------------- ---------------------------------
Title: President
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