--------------------------------------------------------------------------------

 
Exhibit 10

 
THIRD AMENDMENT
 
TO
 
ASSET PURCHASE AGREEMENT
 
DATED AS OF FEBRUARY 28, 2005
 
BY AND AMONG
 

 
THE GOODYEAR TIRE & RUBBER COMPANY,
 
GOODYEAR CANADA INC.,
 
GOODYEAR SERVICIOS COMERCIALES, S. DE R.L. DE C.V.,
 
THE KELLY-SPRINGFIELD TIRE CORPORATION
 
AND
 
TITAN TIRE CORPORATION
 
________________________________________
 
DATED AS OF SEPTEMBER 30, 2005
 
 
 

 

--------------------------------------------------------------------------------

THIRD AMENDMENT
 
TO
 
ASSET PURCHASE AGREEMENT
 
THIS THIRD AMENDMENT (this “Third Amendment”), dated as of September 30, 2005,
to the Asset Purchase Agreement, dated as of February 28, 2005, by and among the
parties hereto, as amended by the First Amendment thereto, dated as of June 29,
2005 and the Second Amendment thereto, dated as of August 31, 2005 (the
“Agreement”), is made by and among Titan Tire Corporation, a corporation
organized under the laws of the State of Illinois (“Purchaser”), The Goodyear
Tire & Rubber Company (“Goodyear”), a corporation organized under the laws of
the State of Ohio, Goodyear Canada Inc., an Ontario corporation (“Goodyear
Canada”), Goodyear Servicios Comerciales, S. de R.L. de C.V., a Mexican sociedad
de responsabilidad limitada (“Goodyear Mexico”) and The Kelly-Springfield Tire
Corporation, a Delaware corporation (collectively with Goodyear, Goodyear Canada
and Goodyear Mexico, “Sellers”, and each individually, a “Seller”). Capitalized
terms not defined herein shall have the meanings ascribed to them in the
Agreement.
 
 
RECITALS
 
A. Under Article 11 of the Agreement, Purchaser or Sellers may terminate the
Agreement (i) if the Closing has not occurred by the close of business on
October 1, 2005 or (ii) if Purchaser has not executed an agreement with the
Local Union meeting the description set forth in Section 9.3(h) of the Agreement
on or before October 1, 2005.
 
B. Sellers and Purchaser wish to amend the Agreement to extend the foregoing
deadlines.
 
NOW, THEREFORE, the parties, intending to be legally bound, hereby amend the
Agreement, effective immediately, as follows:
 
I.  Sections 11.1(b) and 11.1(e) of the Agreement are hereby amended to replace
“October 1, 2005”, in each such Section, with “November 1, 2005”.
 
II. In all other respects, the Agreement shall remain in full force and effect,
as amended by this Third Amendment. For avoidance of doubt, this Third Amendment
may be executed in counterparts as provided in Section 12.10 of the Agreement.