Exhibit 10.1
 
This document contains confidential information that has been omitted
and filed separately with the Securities and Exchange Commission.
Such information is noted by three asterisks, as follows “***.”
 
THIRD AMENDMENT TO PURCHASE AGREEMENT
 
This Third Amendment to Purchase Agreement (“THIRD AMENDMENT”) is entered into
by and between Procter & Gamble Manufacturing Company at One Procter & Gamble
Plaza, Cincinnati, OH 45202, USA, Procter & Gamble International Operations SA
(Geneva General Office Switzerland), Procter & Gamble International Operations
SA Singapore, Procter & Gamble Home Products Limited (individually and
collectively “BUYER”), and FutureFuel Chemical Company at 2800 Gap Road,
Batesville, AR 72501, USA (“SELLER”).
 
Procter & Gamble Manufacturing Company, Procter & Gamble Distributing LLC,
Procter & Gamble International Operations SA, and SELLER previously entered into
a Purchase Agreement dated as of April 1, 2008, as amended by letter agreement
dated April 10, 2009 and by a Second Amendment to Agreement dated as of
November 29, 2011 (the “SECOND AMENDMENT”) (as amended, the “AGREEMENT”;
capitalized terms used but not defined herein have the meanings ascribed to them
in the AGREEMENT).  BUYER and SELLER wish to further amend the AGREEMENT as set
forth herein.
 
Now, therefore, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, BUYER and SELLER agree as follows.
 
1.           AMENDMENT
 
The AGREEMENT is amended as follows:
 
 
1.1
Procter & Gamble International Operations SA Singapore and Procter & Gamble Home
Products Limited are hereby made a party to the AGREEMENT and agree to be bound
by the terms thereof, Procter & Gamble Distributing LLC hereby ceases to be a
party to the AGREEMENT, and all references in the AGREEMENT to “BUYER” refer to
Procter & Gamble Manufacturing Company, Procter & Gamble International
Operations SA, Procter & Gamble International Operations SA Singapore, and
Procter & Gamble Home Products Limited individually and collectively.

 
 
1.2  The following Sections are added to Section 4.1 of the AGREEMENT.

 
 
 
4.1.1           ESTIMATED PURCHASE VOLUME FOR CALENDAR YEAR ***

 
 
 
Notwithstanding the first paragraph of Section 4.1, BUYER will purchase from
SELLER and SELLER will supply to BUYER estimated requirements of *** pounds
(active basis) of GOODS in calendar year ***.  The PRICE for such purchase and
sales will be determined in accordance with Section 5.1 (Exhibit 2B) based upon
actual purchase and sales volumes.  The NOBS Price Curve in Exhibit 2B and the
actual purchase volume will be used to reconcile any deviations or rebates.

 
 
 
4.1.2           ESTIMATED PURCHASE VOLUMES AFTER CALENDAR YEAR ***

 
 
 
For calendar years beginning after December 31, ***, BUYER will provide to
SELLER no later than the October 15 immediately preceding such calendar year a
forecasted annual volume of GOODS (active basis) for such calendar year, which
forecasted annual volume will be between *** pounds and *** pounds of GOODS
(active basis). The PRICE for such purchase and sales will be determined in
accordance with Section 5.1 (Exhibit 2B) based upon actual purchase and sales
volumes.  The NOBS Price Curve in Exhibit 2B and the actual purchase volume will
be used to reconcile any deviations or rebates.

 
 
1.3  
Section 4.4 of the AGREEMENT is deleted in its entirety and replaced with the
following.

 
 
 
4.4           REDUCTIONS OR DISCONTINUANCE OF PURCHASES

 
 
 
SELLER acknowledges and agrees that BUYER may deem it necessary, for a variety
of business and/or technical reasons, at a future date to reduce annual
purchases below *** pounds of GOODS  covered by this AGREEMENT.  Further, BUYER
acknowledges that SELLER has deemed it not desirable to produce less than ***
pounds of GOODS on an annual basis.  In such event that BUYER’S expected annual
purchases of GOODS fall below *** pounds, BUYER shall provide SELLER with
reasonable, but not less than two hundred seventy (270) calendar days, prior
written notice of such reduction. During the two hundred seventy (270) day
notification period, BUYER will purchase at an annual rate not less than ***
pounds of GOODS in accordance with Section 5.1 (Exhibit 2B.)  At the end of the
two hundred and seventy (270) day notification period, the AGREEMENT will be
terminated unless both parties negotiate a mutually acceptable
alternative.  Such termination will be deemed to have occurred under
Section 6.2.1 (although BUYER will not be considered in default under this
AGREEMENT).

 
 
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1.4 The following Section 4.9.1 is added to the AGREEMENT.

 
 
 
4.9.1           ***

 
 
1.5
***

 
 
  The following Section 5.1.1 is added to the AGREEMENT.

 
 
 
5.1.1           SALE OF POWDER

 
 
 
BUYER agrees that SELLER may sell NOBS that does not meet GOODS’ SPECIFICATIONS
(“POWDER”) to persons or entities not a party to this AGREEMENT (“OUTSIDE
PARTIES”), and SELLER’S right to sell POWDER to OUTSIDE PARTIES survives the
termination of this AGREEMENT. *** Nothing in this Section 5.1.1 affects BUYER’S
obligations under Section 4.1.1 or Section 4.1.2, as applicable.

          
 
1.6       The following Section 5.1.2 is added to the AGREEMENT.

 
 
   

 
 
 
5.1.2           ***

 
 
   

 
 
 
***

 
 
   

 
 
1.7      The following Section 5.1.3 is added to the AGREEMENT.

 
 
 
5.1.3           ***

 
 
 
***

 
 
1.8   The following Section 5.1.4 is added to the AGREEMENT.

 

 
 
 
5.1.4           ***

 
 
 
***

 
 
1.9    The following Section 5.1.5 is added to the AGREEMENT.

 
 
 
***

 
 
 
***

         
 
 
***

 
 
 
1.10    Section 6.1 of the AGREEMENT is hereby deleted and replaced in its
entirety with the following.

 
 
 
6.1           CONTRACT PERIOD

 
 
 
The period of this AGREEMENT (“PERIOD”) shall begin on the EFFECTIVE DATE and
end on December 31, 2016, unless earlier terminated in accordance with the
provisions hereof.

 
 
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1.11    The second sentence of Section 6.2.1 of the AGREEMENT is deleted in its
entirety and replaced with the following:

 
 
 
If this AGREEMENT is terminated because of BUYER’S breach or termination or
liquidation of its business, BUYER is obligated to pay for any GOODS shipped as
of the termination date, plus any inventory and work-in-process held for the
manufacture of GOODS (other than inventory and work-in-process held by SELLER
for the manufacture of POWDER for sale to OUTSIDE PARTIES).

 
1.12       The last sentence of Section 7.1 of the AGREEMENT is deleted in its
entirety and replaced with the following.

 
 
 
Other materials, including raw materials purchased by SELLER, co-products,
wastes and residues resulting from the production of GOODS shall be the property
of SELLER.  SELLER has title to raw materials and related inventories of POWDER
manufactured by SELLER for sale to OUTSIDE PARTIES.

 
 
1.13 The first two sentences of Section 7.3 of the AGREEMENT are deleted in
their entirety and are replaced with the following.

 
 
 
Upon the termination of this AGREEMENT for any reason, all ACID (other than ACID
to be used by SELLER in the manufacture of POWDER for sale to OUTSIDE PARTIES),
un-stabilized GOODS (other than inventory and work-in-process held by SELLER for
the manufacture of POWDER for sale to OUTSIDE PARTIES) and GOODS in SELLER’S
custody shall be delivered to BUYER or shall be disposed of lawfully as
instructed by BUYER.  Upon BUYER’S request, SELLER will make all reasonable
efforts to convert un-stabilized GOODS (other than inventory and work-in-process
held by SELLER for the manufacture of POWDER for sale to OUTSIDE PARTIES) into
GOODS meeting SPECIFICATIONS.

 
 
1.14  The following sentence is added to the end of Section 8.3.1 of the
AGREEMENT.

 
 
 
The PARTIES agree that SELLER’S right to sell POWDER to OUTSIDE PARTIES as set
forth herein does not violate BUYER’S rights under this Section 8.3.1.

 
 
1.15    The following sentence is added to the end of Section 10.1 of the
AGREEMENT.

 
 
 
The PARTIES agree that SELLER’S right to sell POWDER to OUTSIDE PARTIES as set
forth herein does not violate BUYER’S rights under this Section 10.1.

 
1.16           Exhibit 2 to the AGREEMENT is deleted in its entirety and is
replaced with the Exhibit 2B attached hereto, effective for purchases made after
December 31, 2011.  Every reference in the AGREEMENT to Exhibit 2 is hereby
deemed to refer to Exhibit 2B.
 
2.           SECOND AMENDMENT
 
The PARTIES agree that Exhibit 2A as added to the AGREEMENT by the SECOND
AMENDMENT terminated effective December 31, 2010.
 
3.           RATIFICATION
 
BUYER and SELLER hereby ratify the AGREEMENT and affirm that, except as
expressly amended by this THIRD AMENDMENT, the AGREEMENT will continue in full
force and effect in accordance with its terms and conditions.
 
4.           GOVERNING LAW
 
This AMENDMENT will be governed by and construed in accordance with the laws
governing the AGREEMENT.
 
5.           COUNTERPART FACSIMILE EXECUTION
 
For purposes of this AMENDMENT, a document (or signature page thereto) signed
and transmitted by facsimile machine, telecopier, or e-mail (including in PDF™
or similar format) is to be treated as an original document.  The signature of
any PARTY thereon, for purposes hereof, is to be considered as an original
signature, and the document transmitted is to be considered to have the same
binding effect as an original signature on an original document.  At the request
of any PARTY, any facsimile, telecopy, or e-mail document is to be re-executed
in original form by the PARTIES who executed the facsimile, telecopy, or e-mail
document.  No PARTY may raise the use of a facsimile machine, telecopier, or
e-mail, or the fact that any signature was transmitted through the use of a
facsimile machine, telecopier machine, or e-mail as a defense to the enforcement
of this AMENDMENT or any other document executed in compliance with this
Section.
 
 
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6.           COUNTERPARTS
 
This AMENDMENT may be executed by the PARTIES on any number of separate
counterparts, and all such counterparts so executed constitute one agreement
binding on all the PARTIES notwithstanding that all the PARTIES are not
signatories to the same counterpart.
 
7.           EXHIBITS
 
All of the Exhibits attached to this AMENDMENT are deemed incorporated herein by
reference.
 
8.           SUCCESSORS AND ASSIGNS
 
All provisions of this AMENDMENT are binding upon, inure to the benefit of, and
are enforceable by or against the PARTIES and their respective heirs, executors,
administrators, or other legal representatives and permitted successors and
assigns.
 
9.           EFFECTIVE DATE
 
This AMENDMENT is effective as of the last date that this AMENDMENT is signed by
one of the parties hereto.
 
[signature pages begin on the next page]
 
 
 
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IN WITNESS WHEREOF the PARTIES hereto have entered into this AMENDMENT.
 
Procter & Gamble Manufacturing Company
By (Signature):  ________________________________
Printed: ***
Title: ***
Date:_________________________________________
Seller: FutureFuel Chemical Company
By (Signature):  ________________________________
Printed:  ______________________________________
Title:_________________________________________
Date:_________________________________________

Procter & Gamble Distributing LLC
By (Signature):  ________________________________
Printed: ***
Title: ***
Date:_________________________________________
 
Procter & Gamble International Operations SA
By (Signature):  ________________________________
Printed: ***
Title:
Date:_________________________________________
Procter & Gamble International Operations SA Singapore
By (Signature): ________________________________
Printed: ***
Title: ***
Date:_________________________________________

Procter & Gamble Home Products Limited
By (Signature):  ________________________________
Printed: ***
Title: ***
Date:_________________________________________
 

 
 
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Exhibit 2B
 
Description of NOBS Quarterly Price Calculation
 
***
 
 
 
 
 

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Exhibit 2B
 
NOBS QUARTERLY PRICE CALCULATION
 
NOBS VOLUME ADJUSTMENT
 
***