Exhibit 10.1
AMENDMENT TO AGREEMENT
This Amendment is effective as of May 17, 2000 by and between TBC CORPORATION
("TBC") and XXXXXX TIRE & RUBBER COMPANY ("XXXXXX") and modifies a certain
Agreement dated January 1, 1994, by and between the parties hereto (the
"Agreement"), as follows:
Section 2 of the Agreement shall be amended to include the following provisions
at the end of that Section:
"Without affecting any other provision herein, TBC and XXXXXX agree
that with respect to the Sigma brand line of Tires to be manufactured and sold
by XXXXXX and purchased by TBC, and subject to the conditions set forth in this
Article 2, Xxxxxx shall purchase the following molds:
SA Code Line Name New Molds Cost
51 Stampede Radial H/T 10 $ 147,000
21/46 Stampede Radial A/S 23 338,100
19/45 Stampede Radial A/T 25 367,500
08/09 Sigma Supreme TR 33 458,700
TOTALS: 91 $1,311,300
provided however, that Xxxxxx'x agreement to purchase such molds is based on
TBC's commitment to increase its purchases of Tires from Xxxxxx during the
years 2000 through 2003 and to purchase equivalent units as follows:
Year 1 (2000) 4,591,620
Year 2 (2001) 4,678,445
Year 3 (2002) 4,769,611
Year 4 (2003) 4,865,336
TOTAL: 18,905,012
Xxxxxx agrees that if TBC's aggregate purchases for the years 2000 through 2003
meet or exceed the total equivalent units of 18,905,012, promptly after
December 31, 2003 Xxxxxx shall sell the ninety-one (91) molds as set forth in
this Article 2, and TBC shall buy such molds for the total purchase price of
one dollar ($1.00); provided however, if TBC's aggregate purchases for the
years 2000 through 2003 do not meet or exceed the total equivalent units of
18,905,012, promptly after December 31, 2003 Xxxxxx shall sell the ninety-one
(91) molds as set forth in this Article 2, and TBC shall buy such molds for the
total purchase price of $1,311,300; provided further, if the Agreement shall
terminate prior to December 31, 2003 through no fault of Xxxxxx, the purchase
of the molds by TBC for $1,311,300 shall occur promptly upon such termination."
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AMENDMENT TO AGREEMENT
The remaining terms and conditions of the Agreement shall remain unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers as of the day and year first written
above.
ATTEST: TBC CORPORATION
By: /s/ Xxxxxxxx Xxxxxx By: /s/ J. Xxxx Xxxxxxx
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Name: J. Xxxx Xxxxxxx
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Title: Sr. Vice President
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ATTEST: XXXXXX TIRE & RUBBER COMPANY
By: /s/ Xxxx X. Xxxx By: /s/ Xxxx Xxxx
------------------------- --------------------------
Name: Xxxx Xxxx
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Title: Vice President
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By: /s/ X.X. Xxxxx
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Name: Xxxxxx X. Xxxxx
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Title: Controller
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