{"id":42312,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/foreign-license-agreement-and-foreign-design-and-consulting.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"foreign-license-agreement-and-foreign-design-and-consulting","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/operations\/foreign-license-agreement-and-foreign-design-and-consulting.html","title":{"rendered":"Foreign License Agreement and Foreign Design and Consulting Agreement &#8211; The Polo\/Lauren Co. and L&#8217;Oreal SA"},"content":{"rendered":"<pre>\n                                 AMENDMENT NO. 2\n                      TO RESTATED FOREIGN LICENSE AGREEMENT\n                 AND TO FOREIGN DESIGN AND CONSULTING AGREEMENT\n\n\n            AGREEMENT, dated as of November 27, 1992, amending the Restated\nForeign License Agreement (the 'License Agreement'), dated as of January 1,\n1985, by and between The POLO\/LAUREN COMPANY ('Licensor') and L'OREAL S.A.\n(('Licensee' or 'Company') and the Foreign Design and Consulting Agreement (the\n'Design Agreement'), dated as of January 1, 1985, by and between Ralph LAUREN,\nindividually and d\/b\/a RALPH LAUREN DESIGN STUDIO ('Lauren') and Company. All\nterms used but not defined herein shall have the respective meanings ascribed to\nthem in the License Agreement and Design Agreement. The term 'Agreements' as\nsometimes used herein refers collectively to the License Agreement and the\nDesign Agreement.\n\n            Licensor, Lauren and Licensee wish to confirm herein their\nagreements to modify the rates of Royalty and Compensation to be paid by\nLicensee in the event certain stated conditions are satisfied.\n\n\n\n            NOW, THEREFORE, THE PARTIES HERETO, INTENDING TO BE LEGALLY BOUND,\nAGREE AS FOLLOWS:\n\n            1)    Commencing with the first calendar year in which Net Sales\n                  under the License Agreement and Design Agreement equal or\n                  exceed the equivalent of [***] French Francs, for such\n                  year, and continuing until modified pursuant to paragraph 2 of\n                  this Agreement or otherwise agreed in writing by the parties,\n                  the Regular Royalty and the Cosmetics Royalty under paragraph\n                  4 of the License Agreement shall each be [***] percent [***]\n                  and the Regular Compensation and the Cosmetics Compensation\n                  under paragraph 4 of the Design Agreement shall each be [***]\n                  percent [***].\n\n            2)    Commencing with the first calendar year in which Net Sales\n                  under the License Agreement and Design Agreement equal or\n                  exceed the equivalent of [***] French Francs for such\n                  year, and continuing until otherwise agreed in writing by the\n                  parties, the Regular Royalty and the Cosmetics Royalty under\n                  paragraph 4 of the License Agreement shall each be [***]\n                  percent [***] and the Regular Compensation and the Cosmetics\n                  Compensation under paragraph 4 of the Design Agreement shall\n                  each be [***] percent [***].\n\n\n                                        2\n\n\n\n            3)    No later than the next succeeding date on which Royalty and\n                  Compensation payments are due under the Agreements, Licensee\n                  shall account to Licensor and Lauren for any amounts which may\n                  be due them as a result of the change of Royalty and\n                  Compensation rates pursuant to this Agreement.\n\n            4)    Except as expressly provided herein, the Agreements remain\n                  unmodified and in full force and effect.\n\n\n                                        3\n\n\n            IN WITNESS WHEREOF, the parties have caused this Agreement to be\nsigned as of the date first above written.\n\nL'OREAL S.A.                  THE POLO\/LAUREN COMPANY\n                                    By:  POLO RALPH LAUREN\n                                          CORPORATION, General Partner\n\n\n\nBy: \/s\/ P. Castres Saint Martin             By:    \/s\/ Ralph Lauren\n   ----------------------------                --------------------------------\n    P. CASTRES SAINT MARTIN                    RALPH LAUREN, individually\n    Vice-President                             and doing business as\n     Directeur General                         RALPH LAUREN DESIGN STUDIO\n     de l'Administration et des Finances\n\n\n                                        4\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8547],"corporate_contracts_industries":[9396],"corporate_contracts_types":[9613,9616],"class_list":["post-42312","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-polo-ralph-lauren-corp","corporate_contracts_industries-consumer__clothing","corporate_contracts_types-operations","corporate_contracts_types-operations__ip"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/42312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=42312"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=42312"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=42312"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=42312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}