SEC Contract Filing

Filing Date: 2017-05-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bid-03312017x10qxex101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="sBF0430B58C77E30A4DB6354AA6382919"></a></div><div><div style="line-height:120%;text-indent:576px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-indent:528px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><div><br></div><div style="line-height:144%;text-align:center;text-indent:528px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;Exhibit 10.1</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SOTHEBY&#8217;S NEVADA, INC.</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1334 York Avenue</font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">New York, New York 10021</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 27, 2017</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquavella Contemporary Art, Inc.</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">c/o Mr. William R. Acquavella</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18 East 79th Street</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York, New York 10075</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dear Bill:</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This letter agreement amends the Agreement of Partnership (the &#8220;Partnership Agreement&#8221;) of Acquavella Modern Art, a Nevada general partnership, dated May 29, 1990, between Sotheby&#8217;s Nevada, Inc., a Nevada corporation (&#8220;Sotheby&#8217;s Partner&#8221;), and Acquavella Contemporary Art, Inc., a Nevada corporation (&#8220;Acquavella Partner&#8221;).</font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By prior letters of amendment, we have agreed to extend the term of the Partnership Agreement through March&#160;31,&#160;2017.&#160; By this letter of amendment, we are agreeing to extend the term of the Partnership Agreement through May 1, 2017.&#160; Accordingly, each of the Sotheby&#8217;s Partner and the Acquavella Partner hereby agree to amend Section 1.5(iii) of the Partnership Agreement, as heretofore amended, to delete the reference to March&#160; 31,&#160;2017 and substitute therefor the date of &#8220;May 1, 2017.&#8221;</font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Except as amended hereby, the Partnership Agreement shall remain in full force and effect and is hereby ratified and confirmed.</font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Please sign this letter agreement in the space provided below.&#160; Upon execution on behalf of the Acquavella Partner, this letter agreement shall be effective as of the date of this letter.</font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;fo