Document:

f8k0211a4ex10xve_adsinmot.htm

***Text Omitted and Filed Separately with the Securities and Exchange

Commission. Confidential Treatment Requested Under

17 C.F.R. Sections 200.80(b)(4) and 240.24b-2

 

Exhibit 10.15(e)

 

THIRD AMENDATORY AGREEMENT

 

This THIRD  AMENDATORY AGREEMENT is  made and entered into  effective December 23 2002 (the "Effective Date") by and among STANLEY LOGISTICS, INC., a Delaware corporation, and THE STANLEY WORKS, a Connecticut Corporation, with its principal place of business at 1000 Stanley Drive, New Britain, Connecticut 06053 (collectively "OWNER"), and MAGLA PRODUCTS, LLC, a New Jersey corporation with its principal place of 159 South Street, P.O. Box 1934, Morristown, New Jersey 07960 (hereinafter "LICENSEE").

 

WHEREAS, OWNER and LICENSEE have entered into a License Agreement effective November 2,1998 and amended on November 11,1999, and amended again on September 28, 2001 (hereinafter collectively, "Agreement"); and

 

WHEREAS, OWNER and LICENSEE desire to modify and renew the Agreement;

 

NOW, THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, OWNER and LICENSEE agree as follows:

 

	  	
1.

	
Effective as of the Effective Date, the section titled "CHANNELS OF DISTRIBUTION" set forth in EXHIBIT 4 of the Agreement shall be amended to include [***]

 

	  	
2.  

	
Except as modified and amended herein, the terms and conditions of the Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the parties hereto have executed this Third Amendatory Agreement as of the date first above written.

 

	
MAGLA PRODUCTS, LLC

	  	
THE STANLEY WORKS

	  	  	  	  	  
	
By:

	
/s/ Jordan Glatt

	  	
By:

	
/s/ Kenneth O. Lewis

	  	  	  	  	  
	
Title:

	
President

	  	
Title:

	
Vice President Marketing

	  	  	  	  	
     and Brand Development

	  	  	  	  
	  	  	  	
STANLEY LOGISTICS, INC.

	  	  	  	  	  
	  	  	  	
By:

	
/s/ Kenneth O. Lewis

	  	  	  	  	  
	  	  	  	
Title:

	
Vice President Marketing

	  	  	  	  	
     and Brand Developmentf8k0211a4ex10xvf_adsinmot.htm

***Text Omitted and Filed Separately with the Securities and Exchange

Commission. Confidential Treatment Requested Under

17 C.F.R. Sections 200.80(b)(4) and 240.24b-2

 

Exhibit 10.15(f)

 

FOURTH AMENDATORY AGREEMENT

 

This FOURTH AMENDATORY AGREEMENT is made and entered into effective as of the 18th day of June, 2003 (the “Effective Date”) by and among STANLEY LOGISTICS, INC., a Delaware corporation, and THE STANLEY WORKS, a Connecticut Corporation, with its principal place of business at 1000 Stanley Drive, New Britain, Connecticut 06053 (collectively “OWNER”), and MAGLA PRODUCTS, LLC, a New Jersey corporation with its principal place of 159 South Street, P.O. Box 1934, Morristown, New Jersey 07960-7900 (hereinafter “LICENSEE”).

 

WHEREAS, OWNER and LICENSEE have entered into a License Agreement effective November 2, 1998, as amended by an Amendatory Agreement dated November 11, 1999, further amended by a Letter Agreement dated September 29, 2000, the Second Amendatory Agreement dated September 28, 2001, and the Third Amendatory Agreement dated December 23, 2002 (collectively, all of such documents are referred to herein as the “Agreement”); and

 

WHEREAS, OWNER and LICENSEE desire to modify and amend the Agreement;

 

NOW, THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, OWNER and LICENSEE agree as follows:

 

	  	
1.

	
Effective as of the Effective Date, the section INITIAL TERM OF AGREEMENT set forth in EXHIBIT 2 of the Agreement shall be amended to extend the term through December 31, 2008

	  	  	  	  
	  	
2.

	
Effective as of the Effective Date, the sections:

	  

	  	
•

	
B) AUTOMATIC RENEWAL TERM;

	  	
•

	
C) OPTIONAL TERM I; and

	  	
•

	
D) OPTIONAL TERM 2

 

	  	
as set forth in EXHIBIT 2 of the Agreement shall be deleted in their entirety and replaced with the following

	  	  	  
	  	
B)

	
AUTOMATIC RENEWAL TERM (the “Automatic Renewal Term”): from January 1, 2009 through December 31, 2013

	  	  	  
	  	
C)

	
ROLLING RENEWAL TERM (the “Rolling Renewal Term”): Following the Automatic Renewal Term, this Agreement shall  automatically renew for additional one (1) year terms unless and until either party gives the other party a written two (2) year notice of termination not less than thirty (30) days prior to the end of any calendar year commencing with the end of the third (3rd) year of the Automatic Renewal Term (i.e., December 31, 2011), in which case this Agreement shall terminate at the end of the calendar year- two (2) years following the date of termination notice

	  	  	  
	  	
D)

	
MINIMUM NET SALES: Notwithstanding any contrary provision herein, if LICENSEE’S revenues from the sale of LICENSED ARTICLES  [***]  in any calendar year during cither the Automatic Renewal Term or Rolling Renewal Term (compared to revenues from the sale of LICENSED ARTICLES in the immediately prior calendar year), OWNER shall have the right to terminate this Agreement upon  [***]  to LICENSEE, in which case this Agreement shall terminate at the end of the calendar year  [***]

  

1

  

 

***Text Omitted and Filed Separately with the Securities and Exchange

Commission. Confidential Treatment Requested Under

17 C.F.R. Sections 200.80(b)(4) and 240.24b-2

 

 

	  	
3.

	
Effective as of the Effective Date, the following shall be added at the bottom of the section entitled “ROYALTY RATE” set forth in EXHIBIT 3 of the Agreement:

	  	  	  
	  	
For calendar year  2004-2013  and every calendar year of a Renewal Term thereafter (if applicable):

	  	
●

	
[***] on the first  [***] of Net Sales during each calendar year

	  	
●

	
 [***] on all Net Sales over  [***]  up to and including  [***]  during each calendar year

	  	
●

	
 [***]  on all Net Sales over  [***] during each calendar year

	  	
4.

	
Effective as of the Effective Date, the section entitled “MINIMUM GUARANTEED PAYMENTS” set forth in EXHIBIT 3 of the Agreement shall be amended to include the following:

	  	  	  
	  	
TOTAL MINIMUM GUARANTEED PAYMENTS

 

	
Due on or before

 [***]

	
The greater of  [***]

	
Due on or before

 [***]

	
The greater of  [***]

	
Due on or before

[***]

	
The greater of  [***]

	
Due on or before

 [***]

	
The greater of  [***]

	
Due on or before

 [***]

	
The greater of  [***]

 

GUARANTEED PAYMENTS DURING THE AUTOMATIC RENEWAL TERM AND ROLLING RENEWAL TERMS

 

The MINIMUM GUARANTEED PAYMENTS for each calendar year during the Automatic Renewal Term and Roiling Renewal Terms after  2008 shall be the greater of  [***] or  [***]  Such MINIMUM GUARANTEED PAYMENTS shall be due and payable on or before December 15 of each year during the Automatic Renewal Term and Rolling Renewal Terms.

  

2

  

 

	  	
5.

	
Except as modified and amended herein, the terms and conditions of the Agreement shall remain in full force and effect. The Agreement and this Amendment Agreement constitute the entire understanding, oral and written, of the parties hereto and may not be changed except by a written document signed by both parties.

 

     IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendatory Agreement as of the date first above written. MAGLA PRODUCTS, LLC

 

	
MAGLA PRODUCTS, LLC

	  	
THE STANLEY WORKS

	  	  	  	  	  
	
By:

	
/s/ Jordan Glatt

	  	
By:

	
/s/ J. DeAngelo

	  	  	  	  	  
	
Title:

	
President

	  	
Title:

	
EVP Tools Group

	  	  	  	  	  
	
Date:

	
9/12/03

	  	
Date:

	
9/22/03

	  	  	  	  
	  	  	  	
STANLEY LOGISTICS, INC.

	  	  	  	  	  
	  	  	  	
By:

	
/s/ Scott A. Bannell

	  	  	  	  	  
	  	  	  	
Title:

	
President, Stanley Logistics, Inc.

	  	  	  	  	  
	  	  	  	
Date:

	
9/19/03

 

 

3f8k0211a4ex10xvg_adsinmot.htm

***Text Omitted and Filed Separately with the Securities and Exchange

Commission. Confidential Treatment Requested Under

17 C.F.R. Sections 200.80(b)(4) and 240.24b-2

 

Exhibit 10.15(g)

 

FIFTH AMENDATORY AGREEMENT

 

This FIFTH AMENDATORY AGREEMENT is made and entered into effective as of the 18lh day of July, 2006 (the “Fifth Amendment Effective Date”) by and among STANLEY LOGISTICS, INC., a Delaware corporation, and THE STANLEY WORKS, a Connecticut Corporation, with its principal place of business at 1000 Stanley Drive, New Britain, Connecticut 06053 (collectively “OWNER”), and MAGLA PRODUCTS, INC., a New Jersey corporation with its principal place of 159 South Street, P.O. Box 1934, Morristown, New Jersey 07960-7900 (hereinafter “LICENSEE”).

 

WHEREAS, OWNER and LICENSEE have entered into a License Agreement effective November 2, 1998, an Amendatory Agreement dated November 11, 1999, a Letter Agreement dated September 29, 2000, a Second Amendatory Agreement dated September 28, 2001, a Third Amendatory Agreement dated December 23, 2002, and a Fourth Amendatory Agreement dated as of June 18, 2003 (collectively, all of such documents are referred to herein as the “Agreement”); and

 

WHEREAS, OWNER and LICENSEE desire to modify and amend the Agreement;

 

NOW, THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, OWNER and LICENSEE agree as follows:

 

	  	
1.

	
Effective as of the Fifth Amendment Effective Date, the section MINIMUM GUARANTEED PAYMENTS set forth in EXHIBIT 3 of the Agreement shall be, and it hereby is, amended as follows solely in connection with the Minimum Guaranteed Payment due on or before December 15, 2006:

 

TOTAL MINIMUM GUARANTEED PAYMENTS

 

	
Due on or before

	
     [***]

	
12/15/06

	  

	  	  	  
	  	
2.

	
Except as modified and amended herein, the terms and conditions of the Agreement shall remain in full force and effect. The Agreement and this Fifth Amendatory Agreement constitute the entire understanding, oral and written, of the parties hereto and may not be changed except by a written document signed by both parties.

 

  

1

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amendatory Agreement as of the date first above written.

 

	
MAGLA PRODUCTS, LLC

	  	
THE STANLEY WORKS

	  	  	  	  	  
	
By:

	
/s/ Jordan Glatt

	  	
By:

	
/s/ Donald R. McIlnay

	  	  	  	  	  
	
Name:

	
Jordan Glatt

	  	
Name:

	
Donald R. McIlnay

	  	  	  	  	  
	
Title:

	
President

	  	
Title:

	
SR VP – President Tools Group

	  	  	  	  	  
	
Date:

	
July 18, 2006

	  	
Date:

	
08/10/06

	  	  	  	  
	  	  	  	
STANLEY LOGISTICS, INC.

	  	  	  	  	  
	  	  	  	
By:

	
/s/ Scott A. Bannell

	  	  	  	  	  
	  	  	  	
Name:

	
Scott A. Bannell

	  	  	  	  	  
	  	  	  	
Title:

	
President

	  	  	  	  	  
	  	  	  	
Date:

	
7/29/06

 

 

2

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