Document:

licenseagreement.htm

    License
Agreement

     

    This
License Agreement (this “Agreement”) is made effective as of April 2, 2008,
between TW Sports, Inc. and Tom Olmstead.

     

    In the
Agreement, the Party who is granting the right to use the licensed property will
be referred to as “Olmstead”, and the party who is receiving the right to use
the license property will be referred to as “TW Sports”.

     

    The
parties agree as follows:

     

    
      	
              1.  

            	
               GRANT OF
      LICENSE.    Olmstead owns the trademark
      WonderWand and the associated products there to.   In
      accordance with this Agreement, Olmstead grants TW Sports an exclusive
      license to use the mark WonderWand and the products listed in Exhibit
      A.  Olmstead retains title and ownership of the
      products.  This grant of license applies to the world wide
      geographical area.

            

    

     

    
      	
              2.  

            	
              EXCLUSIVE RIGHT
      FEE.  In exchange for the exclusive rights to Wonderwand
      and the products listed in Exhibit A, TW Sports agree to pay Olmstead
      $100,000 in Common Stock of TW Sports at $.0015 per
  share.

            

    

     

    
      	
              3.  

            	
              PAYMENT OF
      ROYALTY.  TW Sports will pay to Olmstead a royalty which
      shall be calculated as follows:  5% of the Net Royalty Income
      (as defined below) from any and all products sold under the name
      WonderWand and the products listed in Exhibit
      A.    Net Royalty Income shall be defined total sales
      minus returns and shipping/handling). The royalty shall be paid
      Quarterly.

            

    

     

    
      	
              4.  

            	
              TERM. The Royalty
      Payments shall be due to Stock beginning with the first bona fide
      commercial sale of any Product in the Territory and may, at the discretion
      of Licensee terminate on April 1,
2018.

            

    

     

    
      	
              5.  

            	
              DEFAULTS. If TW Sports
      fails to abide by the obligations of this Agreement, including the
      obligation to make a royalty payment when due, Olmstead shall have the
      option to cancel this Agreement by providing five (5) days written
      notice.   TW Sports shall have the option of preventing the
      termination of this Agreement by taking corrective action that cures the
      default, if such corrective action is taken prior to the end of the time
      period stated above, and if there are no other defaults during such time
      period.

            

    

     

    
      	
              6.  

            	
              ARBITRATION. All
      disputed under this Agreement that cannot be resolved by the parties shall
      be submitted to arbitration under the rules and regulations of the
      American Arbitration Association.  Either party may invoke this
      paragraph after providing 30 days written notice to the other
      party.  All cost shall be divided equally between the
      parties.  Any award may be enforced by a court of
      law.

            

    

     

    
      	
              7.  

            	
              WARRANTIES.  Neither
      party makes any warranties with respect to the use, sale or other transfer
      of the mark WonderWand and the products listed in Exhibit A by the other
      party or by any third party, and TW Sports accepts the products “AS
      IS.”  In no event will Olmstead, be liable for direct, indirect,
      special, incidental, or consequential
damages.

            

    

     

    
      	
              8.  

            	
              COPIES. A copy of this
      agreement and attachment, if any, has the same effect as the
      original.

            

    

    
      	
              9.  

            	
              BREACH AND DISPUTES. Any
      breaching Party shall have Thirty (30) Days from the date of notification
      to cure such breach. Any dispute between the Parties to this Agreement
      shall be resolved through binding arbitration, which shall be governed
      under the rules and regulations of the American Arbitration
      Association.

            

    

    
      	
              10.  

            	
              FORUM, VENUE, and GOVERNING
      LAW. This agreement shall be governed and interpreted under
      Delaware law (without applying its conflict of law principles). Exclusive
      venue for legal proceedings arising hereunder shall be in Clark County,
      Nevada.

            

    

    
      	
              11.  

            	
              ENTIRE AGREEMENT. This
      Agreement supersedes any prior understanding that may have been reached
      between the Parties and encompasses the entire agreement between the
      Parties. The terms of this Agreement are confidential and shall be
      maintained by the Parties in accordance
thereby.

            

    

    
      	
              12.  

            	
              MODIFICATION. This
      Agreement cannot be modified except in writing executed mutually between
      the Parties

            

    

    

    IN
WITNESS WHEREOF, the Parties have signed and executed this Agreement and
have caused this Agreement to becomes effective as of the Effective
Date last executed below.

    

    TW
SPORTS,
INC.                                                       TOM
OLMSTEAD

    

    

    By:/s/
Tom
Olmstead                                                   By:
/s/ Tom Olmstead

            
 
-------------------------                                                   
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    Title:
Incorporatorex101061608.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    SEVENTH
AMENDMENT AGREEMENT

    

    TO

     

    AMENDED
AND RESTATED NOTE

     

    PURCHASE
AGREEMENT

     

    DATED
AS OF JUNE 30, 2003

     

    THIS
SEVENTH AMENDMENT AGREEMENT (this "Agreement"), dated as
of May 9, 2008, is among Seneca Foods Corporation (the "Borrower") and John
Hancock Life Insurance Company (the "Purchaser") and is
with respect to the Amended and Restated Note Purchase Agreement dated as of
June 30, 2003 (as previously amended by a First Amendment dated as of March 17,
2004, a Second Amendment Agreement dated as of June 26, 2004, a Third Amendment
Agreement dated as of May 11, 2005, a Fourth Amendment Agreement dated as of
August 18, 2006, a Fifth Amendment dated as of May 29, 2007 and a Sixth
Amendment dated as of September 29, 2007, the "Note Agreement")
among the Borrower and Seneca Foods, L.L.C. (which merged into Seneca Merger
Corporation which merged into the Borrower) and the Purchaser pursuant to which
the Borrower has outstanding its Mortgage Notes due August 1, 2013 (the "Notes").  As
of the date of this Agreement, the Purchaser is the holder of 100% of the
outstanding principal amount of the Notes.

     

    RECITALS

     

    The
Borrower has requested that the Purchaser consent to certain amendments to the
Note Agreement.

     

    The
Purchaser is willing to do so on, and subject to, the terms and conditions of
this Agreement.

     

    Terms not
otherwise defined in this Agreement have the meanings given therefore in the
Note Agreement.

     

    NOW,
THEREFORE, the parties agree:

     

    1. AMENDMENTS TO NOTE
AGREEMENT.   As of the date of this
Agreement:

     

    (a) Amendment to subsection
(iii) of Section 5.1.  Subsection (iii) of Section 5.1 of the
Agreement is hereby amended by adding the following to the end of such
subsection:

     

    "without
limiting the generality of the foregoing, with respect to any fiscal period as
to which the Borrowers use a last-in, first-out method of accounting, the
computations required by clause (b) above with respect to the financial
covenants set forth in Section 6.14 shall be made as if the Borrowers were using
a first-in, first-out method of accounting;"

     

    (b) Amendment to Section
5.13.  Section 5.13 of the Agreement is hereby amended in its
entirety to read as follows:

     

    "5.13  Maintenance of Books and
Records.  Each Borrower and Subsidiary will (i) keep proper
records and books of account with respect to its business activities in which
proper entries are made in the ordinary course of all dealings or transactions
of or in relation to its business and affairs; (ii) set up on its books adequate
reserves with respect to all Taxes, assessments, charges, levies and claims; and
(iii) set up on its books reserves against doubtful accounts receivable,
advances and all other proper reserves (including reserves for depreciation,
obsolescence or amortization of its property).  All determinations
pursuant to this Section 5.13
shall be made in accordance with, or as required by, GAAP in order to
fairly reflect such Borrower’s or Subsidiary's financial transactions, except
that a Borrower or Subsidiary may, at its option, use the last-in, first-out
method of accounting so long as such Borrower or Subsidiary also keep records
and books of account sufficient for such Borrower or Subsidiary to make the
computations required to be made by such Borrower or Subsidiary and to comply
with the obligations under this Agreement as if such Borrower or Subsidiary were
still using a first-in, first-out method of
accounting.  Notwithstanding the foregoing, a Borrower or Subsidiary
may make adjustments and changes in the manner in which its books and records
are kept, provided,
that:

     

    (a) all such
adjustments and changes shall be required or permitted by GAAP, but need not
conform with the prior accounting practice of such Borrower or
Subsidiary;

     

    (b) each
Holder shall be given written notice of all such changes or adjustments together
with the financial statements required by clause (i) of Section 5.1 for the Fiscal
Quarter in which such change occurred, and together with the financial
statements required by clause
(ii) of Section
5.1, a year-end listing and description of all such changes and
adjustments and the effect thereof prepared by the chief financial officer of
Seneca;

     

    (c) the
financial covenants and ratios set forth in Section 6.14 shall continue to
be calculated without regard to such adjustments or changes unless and until the
Required Holders have consented thereto; and

     

    (d) Seneca
may not change its Fiscal Year unless and until the Required Holders have
consented thereto, such consent not to be unreasonably withheld, delayed or
conditioned."

     

    

    (c) Amendments to Section
10.2.  Section 10.2 of the Agreement is hereby amended by
adding the following to the end of the section:

     

    "Regardless
of whether a Borrower or Subsidiary elects to use the last-in, first-out method
of accounting for its financial or income tax reporting, the definitions
contained in this Section, wherever the context so requires, shall be
interpreted as if such Borrower or Subsidiary was using a first-in, first-out
method of accounting."

     

    2. RATIFICATION OF EXISTING
AGREEMENTS.  All of the Borrower's and the Subsidiaries’
obligations and liabilities to the Purchaser and the Collateral Agent, as
evidenced by or otherwise arising under the Note Agreement, the Notes and the
other Transaction Documents, as amended by this Agreement, are ratified and
confirmed in all respects by the Borrower and each Subsidiary.  Each
of the Borrower and the Subsidiaries acknowledges and agrees that none of them
has any counterclaim, right of set-off or defense of any kind with respect to
such obligations and liabilities.

     

    3. NO OTHER
AMENDMENTS.  Except as expressly set forth herein, the Note
Agreement and the other Transaction Documents shall continue in full force and
effect without alteration or amendment.

     

    4. GOVERNING LAW.  THIS
AGREEMENT IS TO BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF
THE PARTIES SHALL BE GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK (WITHOUT
GIVING EFFECT TO ANY LAWS OR RULES RELATING TO CONFLICTS OF LAWS THAT WOULD
CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF
NEW YORK).

     

    5. COUNTERPARTS.  This
Agreement may be executed simultaneously in two or more counterparts, each of
which shall be deemed an original, and it shall not be necessary in making proof
of this Agreement to produce or account for more than one such
counterpart.

     

    

    
      
        
          -  -

        

         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Seventh Amendment Agreement is executed under seal as of
the date first above written.

     

    BORROWERS:                                                                           SENECA
FOODS CORPORATION

     

    By:           /s/Kraig H.
Kayser                                                                

    Name:
Kraig H. Kayser

    Title:   President

     

    PURCHASER:                                                                           JOHN
HANCOCK LIFE INSURANCECOMPANY

     

    

    By:           /s/ Jacqueline T.
Ryan

    Name:  Jacqueline T.
Ryan

    Title:    Managing
Director

     

    

    The
undersigned acknowledge and accept

    the
foregoing and ratify and confirm their

    obligations
under their respective Subsidiary

    Guaranties:

     

    SENECA
SNACK COMPANY

     

    By: /s/ James F.
McClelland                                                            

    Name:   James
F. McClelland

    Title:     President

    

    MARION
FOODS, INC.

     

    By:_ /s/Kraig H.
Kayser___

    Name:  Kraig
H. Kayser

    Title:    President

    

     

    
      
        
          Signature
Page to Seventh Amendment Agreement to

          Amended
and Restated Note Purchase Agreement

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