Coke Contract. Texas A&M Corpus Christi 1st Amend Agrmt

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  • 8/14/2019 Coke Contract. Texas A&M Corpus Christi 1st Amend Agrmt

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    FIRST AMENDMENTThis first amendment agreement, made and entered into effective as of. July 21, 2008 (the "FirstAmendment"), is to amend that certain Sponsorship Agreement dated effective February 16, 2005 (the"Agreement"), between Coca-Cola Enterprises Inc. d/b/a Coca-Cola Bottling Company of the Southwest,a Delaware corporation ("Company"), and Texas A&M University - Corpus Christi ("TAIVlU-CC), a member

    of the Texas A&M University System, an agency of the State of Texas All capitalized terms not definedherein shall have the meanings ascribed to them in the Agreement.WITNESSETH:

    WHEREAS, the initial term of the Agreement commenced effective February 16, 2005 and isscheduled to end February 15, 2010 ("Initial Term"); and .WHEREAS, the parties to the Agreement wish to extend the Term of the Agreement as set forthherein upon the same terms and conditions plus the additional amended terms and conditions set forth inthis First Amendment.NOW THEREFORE, in consideration of the proMises made herein, the parties hereto agree asfollows:

    A. Section 8.1 of the Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:8.1 Annual Fees. In e x c h a n g ~ for the'rights granted under this Agreement, Companyagrees to pay TAMU-CC an aggregate of Two Hundred Forty Thousand Dollars ($240,000) forthe entire Term (the "Annual Fees"). Company has paid Forty Thousand Dollars ($40,000) to/TAMU-CC for each of Agreement Years One through Three, for a total of One Hundred TwentyThousand Dollars ($120,00QY The remaining Annual Fees will be paid in three (3) equal annualinstallments of Forty T h o ~ s a n d Dollars ($40,000) and will be due on or before September 30 ofeach of Agreement Years Four through S i x . ~ TAMU-CC will provide an invoice to Company at. least thirty (30) days prior to the due datesfor the remaining payments for Agreement Years Fourthrough Six. Regardless of when paid, the Annual Fees shall be deemed earned evenly on amonthly basis over the Agreement Year for which they are paid.

    B. Section 8.7 of the Agreement is hereby amended by adding the following new subsection:8.7. Scoreboard Funding. Company agrees to pay TAMU-CC a total amount not to exceedEighteen Thousand Dollars ($18,000) for the purchase and installation of 1 scoreboards (the"Scoreboard Funding"), to be placed at the Campus. The Scoreboard Funding shall be payablewithin thirty (30) business days after this First Amendment is fully executed by the parties. Theamount Company invests in the scoreboards shall be deemed earned evenly over AgreementYears Four through Six. THE PROVISION OF'THE SCOREBOARDS ARE ON AN liAS IS" BASIS. COMPANY HEREBY DISCLAIMS ANY AND ALL EXPRESS AND IMPLIED WARRANTIES, INCLUDING WITHOUT LIMITATION THOSE OF MERCHANTABILITY AND FITNESSFOR INTENDED USE, AND COMPANY SHALL NOT BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES. During the entire Term, and upon expiration or terminationof the Agreement, TAMU-CC retains ownership of the scoreboards.

    C. Section 13.1 of the Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:13.1 Extension of Contract Term. The parties hereby agree that the term of the agreementas defined in 13.1 Term, is amended to extend the contract for one year, terminating on February15,2011.

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    D. Effective as of the date this First Amendment is fully executed by the parties, Exhibit B (1) of theAgreement is hereby amended by deleting such exhibit in its entirety and replacing it with the following:

    EXHIBIT B (1)Full-ServiceCommissionsCompany shall pay commissions at a rate of twenty-eight percent (28%) for the following Products.

    Product Vend Price12 oz. carbonated (excluding Enviga) $0.7520 oz. bottles (carbonated/Nestea $1.2520 oz. Dasani $1.2520 oz. Minute Maid Juices $1.2520 oz. Minute Maid Refreshment $1.2516 oz. Full Throttle $2.25

    Commissions are paid based upon cash collected, after deducting taxes, deposits, recycling fees,other government-mandated fees, communication charges and credit and debit card fees, if any.Commissions shall not be payable on any sales from vending machines not filled or serviced exclusively by Company. Company may adjust the vend prices as necessary to reflect changes inits costs, including cost of goods. Commissions will be paid each month following the month inwhich they are earned, with an accounting of all sales and monies in a form reasonably satisfactory to the TAMU-CC, and shall become immediate property of TAMU-CC.

    E. Except as modif ied herein, aiL other terms and conditions of the Agreement shall remain in fullforce and effect. In the event -bf a conflict betWeen this First Amendment and the Agreement, thisFirst Amendment shall control. Each party represents, warrants and covenants to the other asfollows: '1. Authority. It has full power and authority to enter into this First Amendment and to grantand convey the rights set forth herein.2. Binding Obligation. All necessary approvals for the execution, delivery and performance

    of this First Amendment by it have been obtained, and this First Amendment has beenduly executed and delivered by it and constitutes the legal and binding obligation of it enforceable in accordance with its terms.IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be duly executed as of the date first above written.

    TAMU-CC:c o m p a n y ~ BY:__ ~ ~ ~ ~ V : : . . : . . . . . . - _ ------ly: Printed Name: Bobby Skloss Printed Name: Robert LovittTitle: Director, MU On-Premise Title: Executive Vice President Finance & Admin.Date:__ r-!,-+-I-=-O-b2':, _ Date: Q/2sjt;S/IT 2