AMENDMENT TO CONCESSION AGREEMENT PARTIES: TOWN OF OYSTER BAY, a municipal corporation of the State of New York, having its principal office at Town Hall, Audrey Avenue, Oyster Bay, New York 11771, and hereinafter referred to as the “TOWN”; acting for and on behalf of the DEPARTMENT. OF PARKS, and hereinafter referred to as the ‘DEPARTMENT’; ‘SRB CONCESSION, INC., having its principal place of business at 150 Hicksville Road, Bethpage, New York 11714, hereinafter referred to as the “CONCESSIONA IRE” WITNESSETH WHEREAS, by Resolution No. 312-2005, adopted on April 19, 2005, the parties hereto entered into an agreement (the “Agreement”) for the operation of a food and beverage concession at TOBAY Beach (“TOBAY”), for the period from May 1, 2005 through April 30, 2025, and for CONCESSIONAIRE to make capital improvements in the amount of $1,000,000 to TOBAY by April 30, 2015; and WHEREAS, by Resolution No, 888-2008, adopted on September 16, 2008, the parties amended the Agreement to require the CONCESSIONAIRE to make additional capital improvements to TOBAY, in the amount of $2,500,000, to be completed prior to April 30, 2015, and exercised the two ten-year renewal options contained in the Agreement; and WHEREAS, to date, the CONCESSIONAIRE has completed capital improvements at TOBAY of approximately $1,782,662; and WHEREAS, the TOWN and the CONCESSIONAIRE wish to further amend the ‘Agreement in connection with the CONCESSIONAIRE’S obtaining financing for the required capital improvements to TOBAY and other matters.Accordingly, the TOWN and the CONCESSIONAIRE agree as follows: 1. The following subparagraph (j) is added to Paragraph 32 of the Agreement: “i) A default or event of default occurs under CONCESSIONAIRE’S credit facility with Madison National Bank (“Credit Facility”) which continues beyond any applicable period for grace and cure, With respect fo any default under this subparagraph (of Paragraph 32 of this Agreement, CONCESSIONAIRE’S period of grace and cure shall be controlled by the loan documents for the Credit Facility, and the 60 day period set forth in the fall paragraph following this subparagraph (i) shall not apply.” 2. The existing second to last paragraph of Paragraph 32 of the Agreement is deleted in its entirety, and replaced with the following: “If the TOWN terminates the Agreement for any reason prior to April 30, 2015, the TOWN shall pay CONCESSIONAIRE a termination payment equal to the greater of (a) $1,500,000 or (b) if but only if the TOWN terminates this Agreement for any reason other than the default of the CONCESSIONAIRE, the TOWN shall pay to the CONCESSIONAIRE a sum equal to 5% of the capital improvements made to the facility by the CONCESSIONAIRE, for each year or part of a year remaining in the initial term of this Agreement, including any remaining renewal options, up to 100% of the value of said improvements, in either ‘case of (a) or (b) if and only if CONCESSIONAIRE, and Harendra Singh have executed and delivered to the TOWN the General Release and Covenant not to Sue substantially in form and substance as set forth in Exhibit A attached hereto, After April 30, 2015, if the TOWN terminates this Agreement for ‘any reason other than the default of the CONCESSIONAIRE, the TOWN shall pay to the CONCESSIONAIRE a sum equal to 5% of the capital improvements made to the facility by the CONCESSIONAIRE, for each year or part of a year remaining in the initial term of this Agreement,including any remaining renewal options, up to 100% of the value of said improvements. 3. In accordance with Paragraph 32 of the Agreement, the CONCESSIONAIRE hereby assigns to and designates Madison National Bank, 888 Veterans Highway, Suite 400, Hauppauge, New York 11788, (631) 297-5904, attention Thomas N. Gilmartin, as the financing entity entitled to receive amounts payable from the TOWN to the CONCESSIONAIRE pursuant to paragraph 32 of the Agreement, and the TOWN hereby consents to such assignment, [End of text. Signatures appear on the following page.]IN WITNESS WHEREOF, SRB CONCESSION, INC. and the TOWN OF OYSTER BAY have executed this Amendment to the Agreement on the dates indicated below. ‘TOWN OF OYSTER BAY By: Napé: Title: Supervisor Date Signed: June %, 2010 Reviewed by: Deputy Town Attomey ‘SRB CONCESSION, INC. Date Signed: June___, 2010 Agreed as to paragraph 2 hereof:STATE OF NEW YORK) ) ss COUNTY OF NASSAU ) On this 3” day of Sune, 2010, before me personally came Sor fenditko —, to me known, who, being by me duly swom, did depose and say that he resides at NSN. Kings ve, Massagers i; that he isthe Sugeartsoe- of the Town of Oyster Bay, the municipal corporation ‘described herein and which executed the foregoing instrument; that he knows the seal of said corporation; thatthe seal affixed to said instrument is such corporate seal; that it was so affixed by order of thg/Town Boagd of said corporation, and that he signed his name thereto by like order. : Sr fotary Publi 108 & arn any Aas STATE OF NEW YORK) Cornision Exp og MECC ss: COUNTY OF ) On the P_ day of G + 2010, before me, the undersigned, personally appeared Harendra Singh, persofally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument, CIA BARANEL LO. bli, State of ave Yes eds gsoa cease 9. 20462014 SBiF8 Moy 3h, SgtExhibit A General Release of all Liability ‘SRB Concession Inc, and Harendra Singh, for themselves and each of their affiliates, and their respective, successors and assigns (collectively, “Releasing Parties”), in consideration of a payment from Town of Oyster Bay in connection with the termination of a certain Concession Agreement dated April 19, 2005, as amended (“Concession Agreement"), hereby releases, waives and forever discharges the Town of Oyster Bay, its elected and appointed officials, and its employees, agents and attorneys (collectively, “Released Parties”), from all actions, causes of action, suits, debts, sums of money, accounts, invoices, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands, in law or equity, wich any one or more of the Releasing Parties ever had, now have or may have had against any one or more of the Released Parties for any reason, from the beginning of the world to the date of this Release, ‘The Releasing Parties agree that the release contained herein is an essential and material term of this Release and that the payment made by the Town of Oyster Bay in connection with this Release is intended to be in full satisfaction of any alleged injuries or damages suffered or incurred by the Releasing Parties, None of the Releasing Parties shall institute any action or proceeding, at law or in equity, against any Released Party, nor institute, prosecute or in any way assist, cooperate with or provide information to any person in the institution or prosecution of any claim, demand, action, ‘or cause of action for damages, costs, loss of services, expenses, ot compensation for or on account of any damage, loss or injury either to person or property, or both relating to or arising ‘out of the termination of the Concession Agreement, ‘The person signing this Release and Covenant not to Sue on behalf of the undersigned warrants and represents to the Released Parties that it has full right and authority to execute this Release for itself and on behalf of the other Releasing Parties. Dated: Ge Gi Adib, 20__ SRB Concession, Inc. B Sirk Title: Haréngra SinghSTATE OFAZe Gore )ss.: COUNTY OF Mass@e ) On the F day ons in the year 20 10,, before me, the undersigned, personally appeared Harendra Singh, Gersonally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his capacity, that by his/hertheir signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. (Signature and office of magn paronsne taking acknowledgment. Notary tybiie 2s af few ek - 'No, 30-4620194 We ‘Tor Erpites Moy Sty