Document:

exv10w2

 

Exhibit 10.2

ADDENDUM “B”

SIPEX CORPORATION

DISTRIBUTOR AGREEMENT

As per the provisions of the Distributor Agreement between SIPEX CORPORATION and FUTURE
ELECTRONICS INC. dated July 1,1993 the Authorized Distributor Agreement between the above captioned
parties is hereby amended to include the following:

This amendment authorizes the following locations of Future Electronics to sell products
manufactured by SIPEX CORPORATION.

Worldwide

(Schedule of location attached)

All other terms and conditions to the Distributor Agreement dated July 1, 1993, between Future
Electronics and Sipex Corporation shall remain unchanged.

	 	 	 	 	 	 	 	 	 
	FUTURE ELECTRONICS	 	 	 	SIPEX CORPORATION
	 
	 	 	 	 	 	 	 	 
	BY:

	 	/s/ Sam Abrams
	 	 	 	BY:
	 	/s/ Walid Maghribi
	 

	 	 
	 	 	 	 	 	 
	          Sam Abrams 	 	 	 	          Walid Maghribi 
	 
	 	 	 	 
	

	 	(Printed Name)
	 	 	 	
	 	(Printed Name) 
	TITLE: Executive Vice President	 	 	 	TITLE: President & CEO
	DATE: August 26, 2003	 	 	 	DATE: 8|29|03

 

 

SCHEDULE “A”

WORLDWIDE

“America”

	 	 	 	 	 
	City	 	State/Province	 	Country
	 
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	Canada
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.

	 	 	 	 	 	 	 
	INITIAL:

	 	/s/ SA
	 	/s/ Walid Maghribi	 	 
	 

	 	 

FUTURE
	 	 

SUPPLIER
	 	 

 
 

[†] Information redacted pursuant to a confidential treatment
request by Sipex Corporation under 17 CFR §§ 200.80(b)(4) and 240.24b-2 and submitted
separately with the Securities and Exchange Commission.

13

 

SCHEDULE “A”

WORLDWIDE

“America”

	 	 	 	 	 
	City	 	State/Province	 	Country
	 
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	 
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	[†]
	 	U.S.A.
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]
	[†]

	 	 	 	[†]

	 	 	 	 	 	 	 
	INITIAL:

	 	/s/ SA
	 	/s/ Walid Maghribi	 	 
	 

	 	 

FUTURE
	 	 

SUPPLIER
	 	 

 
 

[†] Information redacted pursuant to a confidential treatment request by Sipex
Corporation under 17 CFR
§§ 200.80(b)(4) and 240.24b-2 and submitted separately with the Securities and Exchange
Commission.

14

 

SCHEDULE “A”

WORLDWIDE

“America” 

“Europe”

	 	 	 
	City	 	Country
	 
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]

	 	 	 	 	 	 	 
	INITIAL:

	 	/s/ SA
	 	/s/ Walid Maghribi	 	 
	 

	 	 

FUTURE
	 	 

SUPPLIER
	 	 

 
 

[†] Information redacted pursuant to a confidential treatment request
by Sipex Corporation under 17 CFR §§ 200.80(b)(4) and 240.24b-2 and submitted
separately with the Securities and Exchange Commission.

15

 

SCHEDULE “A”

WORLDWIDE

“America”

“Asia”

	 	 	 
	City	 	Country
	 
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]
	[†]

	 	[†]

	 	 	 	 	 	 	 
	INITIAL:

	 	/s/ SA
	 	/s/ Walid Maghribi	 	 
	 

	 	 

FUTURE
	 	 

SUPPLIER
	 	 

 

[†] Information redacted pursuant to a confidential treatment request
by Sipex Corporation under 17 CFR §§ 200.80(b)(4) and 240.24b-2 and submitted
separately with the Securities and Exchange Commission.

16exv10w3

 

Exhibit 10.3

AMENDMENT #3 TO THE AUTHORIZED DISTRIBUTOR MARKET PRICE
AGREEMENT DATED AS OF JULY
1st,
1993 BY AND BETWEEN:

FUTURE
ELECTRONICS INC. (“ Future ”)

-and-

SIPEX,
CORPORATION (“ Sipex ”)

WHEREAS Sipex and Future have entered into an Authorized Distributor Market Price Agreement
dated as of the
1st day
of July 1993 (the “Agreement”);

WHEREAS the Agreement was
amended by an amendment dated as of the 1st day of October 2002 (the “First
Amendment”), whereby Future was designated as Sipex’s exclusive distributor for North America
and Europe for the term set forth therein;

WHEREAS the Agreement was subsequently amended through Addendum “A”, executed by Future on
February 7, 2003, and by Sipex on February 12, 2003 (the
“Second Amendment ”);

WHEREAS
Future and Sipex (collectively, the “ Parties ” and individually, each a “Party”)
wish to further amend the Agreement, through this Amendment #3 (this “Amendment’’) as set
forth hereafter;

WHEREAS Sipex believes that division of customer accounts between Sipex and Future as set forth
herein will maximize the total output of the Products (as defined in
the Agreement) and enhance
interbrand competition by Sipex;

NOW THEREFORE, IN CONSIDERATION OF THE RESPECTIVE COVENANTS CONTAINED HEREIN, THE PARTIES AGREE
AS FOLLOWS:

	1.	 	Recitals. The Recitals to this Amendment form an integral part hereof.
	 
	2.	 	Designation of Corporate Accounts. The Parties agree to designate certain North
American and European customers, or customer accounts, as “Corporate Accounts” to be
serviced directly by Sipex, and not by Future as Sipex’s
distributor. Such Corporate Accounts
are listed on Schedule “A” hereto.
	 
	3.	 	Distribution Accounts. All North American and European accounts not designated as
Corporate Accounts, shall constitute “Distribution Accounts”.  Distribution Accounts
shall be serviced by Future, and not by Sipex. Sipex hereby undertakes and covenants to advise
and cause its in-house and independent sales representatives, as well as all entities acting
in such or similar capacity (collectively, “Sipex Sales
Representatives ”), to abide
by the allocation of customers and accounts as provided herein.

 

 

	4.	 	Communication of designation as Corporate Accounts or Distribution Account
to Customers. Current customers shall be promptly informed of their designation
as either a Corporate Account or Distribution Account, and of any resulting changes
in the mode of service of the account in respect of any Product Corporate Accounts
currently serviced by Future, and Distribution Accounts currently serviced by Sipex
or a Sipex Sales Representative, shall be transitioned from one Party
to the other
without undue delay.
	 
	5.	 	Referral of Requests for Quotation and Orders .Whenever Sipex, either
directly or through a Sipex Sales Representative, shall receive a request for quotation
(“RFQ”) or an order for any Product from a Distribution Account, Sipex shall [promptly]
refer such RFQ or order to Future, and Sipex shall notify the originating customer
accordingly. Conversely, whenever Future shall receive a RFQ or an order for any Product
from a Corporate Account, Future shall [promptly] refer
such RFQ or order to Sipex, and
Future shall notify the originating customer accordingly.
	 
	6.	 	Account Transfer by Sipex. Sipex may, from time to time, because of
logistical or other reasons, request Future to sell Product to a Corporate Account in
respect of a specific transaction or specific transactions. In that Event, Future will
sell at prices to be determined by Future except that Sipex may determine the maximum
prices that Future may charge. In the alternative, the Parties may also elect that Future
will act as Sipex’s agent with respect to such Corporate
Account. In any such event,
Sipex shall promptly notify any such Corporate Account of such transfer or agency
arrangement.
	 
	7.	 	Account Transfer by Future. Future may, from time to time, because of
“market economics” or other reasons, request Sipex to sell Product to a Distribution
Account in respect of a specific transaction or specific transactions. In such a case,
the Parties may also elect that Future will act as Sipex’s agent to facilitate a direct
sale by Sipex with such Distribution Account. In any such event, future shall promptly notify any such Distribution Account of such transfer or agency arrangement.
	 
	8.	 	Confidentiality. Future and Sipex have determined and agree that public
disclosure of the list of Corporate Accounts as set forth in Schedule “A” would likely
cause substantial harm to the Parties' respective competitive positions. Future and Sipex
agree to designate such Schedule “A” as “Confidential Information”, and to take (and
Sipex shall ensure that the Sipex Sales Representatives shall take) all appropriate steps
to prevent the public disclosure of such Confidential Information. Nothing herein is to
be construed as affecting or diminishing the obligations of either Party to inform
individual Corporate Accounts and Distribution Accounts of their respective designation
and mode of service.
	 
	9.	 	SEC and other Regulatory Filings. Future and Sipex acknowledge that this
Amendment, or excepts or summaries hereof, my need to be filed with the

 

 

Securities
and Exchange Commission of the United States (“SEC”) or other governmental bodies
or agencies, as the case may be, in order to meet disclosure requirements under applicable
legislation, regulation or other law. With respect to any such filing, the following shall apply:

	(a)	 	Future and Sipex agree that all Confidential Information shall be redacted out, and
that an exemption from disclosure shall be diligently sought (by the Party making such
filing, in consultation with the other Party) from the SEC, or such other governmental
bodies or agencies, as the case may be, in respect of such Confidential Information.
Specifically as it relates to any such, filing with the SEC.

	 	(i)	 	Sipex shall use its best reasonable efforts to secure a determination by the SEC that
the Confidential Information shall receive “confidential treatment” status pursuant to Rule
406 under the Securities Act of 1933 (“Rule 406”) or Rule 24b-2 under the
Securities Exchange Act of 1934 (“Rule 24b-2”), or any other applicable rule or
regulation regarding the confidential treatment of information, as applicable.
	 
	 	(ii)	 	Sipex shall (a) consult with Future regarding the preparation, procedures and
application for confidential treatment, and (b) follow the guidelines set forth in the
Division of Corporation Finance Staff Legal Bulletin No. 1 (labeled “Confidential Treatment
Requests”).
	 
	 	(iii)	 	Sipex shall use best reasonable efforts to timely secure a renewal of the
determination of confidential treatment by the SEC with respect to the Confidential
Information so long as this Amendment is in effect (including with respect to each renewal
of the term hereof).
	 
	 	(iv)	 	If the SEC, or any applicable division thereof acting pursuant to delegated authority,
denies the application for confidential treatment or revokes previously granted
confidential status of the Confidential Information for any reason (including, without
limitation, pursuant to a request under the Freedom of Information
Act (5 U.S.C. §552)(“FOIA”)), then Sipex shall:

	 	a.	 	promptly notify Future (in the manner and time provided in Section 9(b)
below) of such denial or revocation (as applicable), and consult with Future
regarding the petition for review or appeal of such determination, as
applicable;
	 
	 	b.	 	timely petition the SEC for review of such determination, including
pursuant to Rule 431 of the SEC’s Rules of Practice;

 

	 	c.	 	timely and diligently pursue any other possible measures,
including judicial review, to seek to overturn such SEC
determination; and
	 
	 	d.	 	allow Future to participate (in its
discretion and at its own
expense) in any procedures, petitions, appeals or
otherwise related to such determination.

	 	(b)	 	Future and Sipex agree that if either Party receives any
notice or information from any governmental body or agency (whether
in writing or by telephone) regarding any application, petition,
appeal or otherwise related to such Party’s efforts to seek or
protect confidential treatment of the Confidential Information, then
such Party shall promptly notify the other Party hereunder of such
notice or information: (i) by telephone on the same day received (the
Parties agree that a voice message left at the number(s) listed in
Section 16 below shall constitute sufficient telephone notice), and
(ii) with respect to any such written notice or information received,
within in 1 business day (but no more than 2 calendar days) of such
receipt, by facsimile to the other Party (with electronic
confirmation of receipt) at the respective facsimile number(s)
provided in Section 16 below.
	 
	 	(c)	 	In the event that (i) confidential treatment of the
Confidential Information pursuant to any petition or application
pursuant to this Section 9 is not granted, is only granted in part,
is revoked, or is revoked in part, by a final non-appealable decision
by any applicable government authority, or (ii) the Confidential
Information is publicly disclosed for any reason, then this Amendment
shall become null and void and of no effect.
	 
	 	(d)	 	The Parties shall cooperate in good faith with respect to any
request, application, petition, appeal, procedure or otherwise related
to their respective efforts to seek or protect the confidential
treatment of Confidential Information pursuant to this Section 9, and
each Party shall permit the other Party as applicable (and at the
other Party’s expense) to participate in any such application,
petition, appeal, procedure or otherwise.

	10.	 	Access to Information. Sipex and Future further mutually agree to
diligently defend and contest any third party application or request for
release of Confidential Information, pursuant to “access to information” or
similar statutes and rules (including FOIA), and to allow the other Party to
participate, at its own cost and expense, in the defense or prosecution of
any opposition to or contestation of any such application or request.
	 
	11.	 	Precedence.This Amendment has precedence over and supersedes any
inconsistent provisions of the Agreement, of the First Amendment or
Second

 

 

	 	 	Amendment, and any course of dealing between Sipex and Future, as the
ease may be.
	 
	12.	 	Term. This Amendment shall come into
effect as of Sep
15th 2003 and
shall remain in effect until (a) the end of the exclusivity granted to
Future pursuant to the First Amendment, as the same may be extended from
time to time, or (b) such earlier time as this Amendment may be terminated
or otherwise become null and void pursuant to Section 9 above,
	 
	13.	 	Complete Agreement. This Amendment, the Agreement, the First
Amendment and Second Amendment constitute the complete agreement of the
Parties in respect of the subject matter hereof. It can only be amended by
way of a written instrument duly executed by authorized signing officers of
both Parties. No course of dealing shall take precedence over, or be deemed
to amend or modify the express terms of this Amendment. The tolerance or
silence of a Party, in respect of any breach or departure from the express
terms hereof by the other Party shall not constitute a consent to such
breach or departure or a waiver of such breach or of any subsequent breach
of the same or other term or condition of this Amendment.
	 
	14.	 	Governing Law. This Amendment shall be governed by and construed in
accordance with the substantive laws of the Province of Quebec, and all
disputes arising hereunder shall be resolved in the manner and before the
forums defined in the Agreement.
	 
	15.	 	Headings. Captions and headings are incorporated for ease of
reference only and shall have no incidence upon the construction of this
Amendment, or the nature and/or scope of the rights and obligations of the
Parties.
	 
	16.	 	Notices. All notices and other communications required or permitted
hereunder shall be in writing (except for telephone notification
specifically required pursuant to Section 9(b) above) and shall be sent by
facsimile, courier service or certified mail, return receipt requested,
postage prepaid, addressed as follows, or to such other address or addresses
of which the respective Party shall have notified the other Party.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	(a)	 	If to Sipex, to it at:  
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	•	 	 	 	 	 	 	 	 
	 
	 	 	 	Copy to:	 	 	 	 	 	 
	 

	 	 	 	•	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	(b)	 	If to Future, to it at:
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Future Electronics, Inc.
	 	 	 	 	C/O Mr. Pierre Guilbault, Executive Vice President and CFO
	 	 	 	 	237 Hymus Boulevard
	 	 	 	 	Montreal (Pointe Claire), Quebec
	 	 	 	 	Canada, H9R 5C7
	 	 	 	 	Telephone:
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Telecopier: 
	514.695.6564	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Copy to:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Future Electronics, Inc.
	 	 	 	 	C/O Guy Lavergne, Associate General Counsel
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	237 Hymus Boulevard
	 	 	 	 	Montreal (Pointe Claire), Quebec
	 	 	 	 	Canada, H9R 5C7
	 	 	 	 	Telephone:
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Telecopier:
	514.694.7515	 	 	 	 	 

Any notice required or permitted to be given concerning this Amendment shall be deemed to have been
received by the Party to whom it is addressed: (i) if delivered
by hand, upon receipt at the
premises referred to above; or (ii) if sent by courier service or certified mail, on the date it
was received as recorded on the return receipt; or (iii) if sent by facsimile, at the time of
receipt shown on the transmission confirmation report.

WHEREFORE THE PARTIES HAVE EXECUTED THIS AMENDMENT, AS OF THE DATE SET FORTH IN SECTION 12 ABOVE.

	 	 	 
	FUTURE ELECTRONICS INC.

	 	SIPEX CORPORATION
	 
	 	 
	/s/ Sam Abrams

	 	/s/ Walid Maghribi  9/15/03
	 

	 	 
	per: Sam Abrams

	 	per: Walid Maghribi

 

 

Schedule A*

Accounts designated as Corporate Accounts

	 	 	 	 	 	 	 
	Customer	 	Location	 	Contact Person	 	Phone #
	 

	 	 
	 	 
	 	 

 

*  No information under Schedule A was provided or delivered by the parties
in connection with Amendment #3.

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