You are on page 1of 3
SECOND AMENDMENT AND EXTENSION TO THE ALL-SPORT AGREEMENT BETWEEN THE REGENTS OF THE UNIVERSITY OF COLORADO, A BODY CORPORATE AND NIKE USA, INC. This Second Amendment and Extension (‘Second Amendment’) to the All-Sport Agreement dated July 1, 2001 and subsequent Extension Agreement dated July 1, 2006 (collectively the Aareement’) is entered into between The Regents of the University of Colorado, @ body corporate (“UNIVERSITY”) and NIKE USA, Inc. (‘NIKE” WHEREAS, the UNIVERSITY and NIKE entered into an Agreement for the period from July 1, 2001 through June 30, 2016; and WHEREAS, the parties hereto wish to amend the Agreement and extend its term; NOW, THEREFORE, in consideration of the above premises and the individual and mutual promises of the parties hereinafter set forth, and for other good and sufficient consideration, the Sufficiency of which is hereby acknowledged, it is hereby agreed by and between the parties hereto as follows: 1. The term of the Agreement shall be extended for a period of one (1) Contract Year (ie, from July 1, 2016 to June 30, 2017), upon the existing terms and conditions of the Agreement except as otherwise provided under this Second Amendment. 2. As of July 1, 2013 (the “Effective Date"), Paragraph 1(h) of the Agreement shall be amended to include women’s lacrosse as a Covered Program, 3. As of the Effective Date, the “Supplied Product Limit” table set forth in Paragraph 5(a)(1) of the Agreement shall be deemed deleted in its entirety and replaced with the following [ 4st Contract Year (2006-07) $1,365,000 | 2nd Contract Year (2007-08) $1,365,000 if 3rd_Contract Year (2008-09) $1,365,000 4th Contract Year (2009-10) $1,465,000 Sth Contract Year (2010-11) ____ [$1,465,000 6th Contract Year (2011-12) $1,465,000 7th Contract Year (2012-13) $1,565,000 | 8th Contract Year (2013-14) ‘$1,600,000 Sth Contract Year (2014-15) $1,800,000 10th Contract Year (2015-16) $1,800,000 aa ith Contract Year (2016-17) [$1,600,000 Notwithstanding the foregoing, it during the term either the mon’s or women’s basketball teams Take the NCAA Tournament, for the regular season following such tournament appearance, NIKE will provide sacs { such team, on a t-ime basis during the term, with a 3rd set of game uniforms } 4. As of the Effective Date, Paragraph 5(a)(4) of the Agreement shall be deemed deleted in its entirety and replaced with the following: “In further consideration for the rights granted under this Agreement, UNIVERSITY and select members of the Athletic Department (to be designated by UNIVERSITY), shall be entitled to order (i) up to one hundred thousand dollars ($100,000) (retail value) of NIKE Product during each Contract Year through the Sth Contract Year, (ii) up to one hundred fifteen thousand dollars ($115,000) (retail value) of NIKE Product during each Contract Year through the 7th Contract Year, and (ii) up to one hundred thirty thousand dollars ($130,000) (retail value) of NIKE Product during each of the 8th Contract Year through 11th Contract Year. All NIKE Product must be ordered through the “NIKE Elite" program and subject to procedures established by NIKE for such purpose. No carryover of unordered annual allotments or merchandise from one Contract Year to another shall be allowed. NIKE Shall provide to UNIVERSITY and/or Athletic Department members, as applicable, such documentation as may be required with regard to such orders to facilitate the UNIVERSITY's and such individuals’ compliance with federal and state tax laws.” As of the Effective Date, the chart in Paragraph 10(a) of the Agreement shall be deemed deleted in its entirety and replaced with the following: ‘st Contract Year (2006-07) $400,000 2nd Contract Year (2007-08) ‘$400,000 3rd_Contract Year (2008-09) $400,000 z th Contract Year (2009-10) | $400,000 Sth Contract Year (2010-11) _ = [$400,000 6th Contract Year (2011-12) [$400,000 7th Contract Year (2012-13) ‘$400,000 8th Contract Year (2013-14) $400,000 Sth Contract Year (2014-15) $400,000 40th Contract Year (2015-16) ‘$400,000, ith Contract Year (2016-17) $400,000 . As of the Effective Date, the last sentence in Paragraph 10(c)(4) of the Agreement shall be deemed deleted in its entirety and replaced with the following: In addition, if NIKE's annual retail sales of Licensed Products exceeds one million five hundred thousand dollars ($1,500,000) in each of the 8th, 9th, 10th and 11th Contract Years, NIKE shall pay UNIVERSITY an additional cash bonus of fifty thousand dollars ($50,000).” As of the Effective Date, Paragraph 14(a) of the Agreement shall be deemed deleted in its entirety and replaced with the following, “(@) At NIKE’s request made no later than November 15, 2016, UNIVERSITY shall for a period of forty-five (45) days negotiate with NIKE in good faith with respect to the terms of a renewal of this Agreement. The parties shall not be obligated to enter into an agreement if they cannot settle on mutually satisfactory terms. Prior to January 1, 2017 (the “Exclusive Negotiating End Date"), UNIVERSITY shall not (nor shall UNIVERSITY permit its agents, attorneys or representatives to) engage in discussions or negotiations with any third-party regarding product supply with respect to any Products, or sponsorship of any Covered Program (or similar supply or promotional arrangement) with respect to any Products (‘Product ‘Supply/Sponsorship Rights") after the Term,” Except as modified by this Second Amendment, all capitalized words used and not otherwise defined herein shall have the meanings ascribed to them in the Agreement, all other terms and conditions of the Agreement shall remain in full force and effect and all rights and obligations thereunder shall be exercised consistent therewith. The Regents of The University of Colorado, NIKE USA, Inc. a body corporate wo 2. Its: Vice Chancellor for Administration Its VP, aw Ame rica Sports Marketing 2 Its: Director of Athletics Fed. Identification No.: 84-6000-555 APPROVED AS TO LEGAL SUFFICIENCY Office of the University Counsel By Its: Dated_20ia lip

You might also like