Document:

Exhibit 10.5

                               CORPORATE GUARANTY

         FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which are hereby acknowledged, and to induce EPIC Aviation, LLC ("EPIC") to
enter in to that certain Loan Agreement with Ronson Aviation, Inc. ("Debtor")
dated May 30, 2007, as amended (the "Loan Agreement") the undersigned Ronson
Corporation ("Guarantor"), being the corporate parent of Debtor, hereby
unconditionally and absolutely guarantees the full and prompt payment and
performance of all present and future obligations of Debtor to EPIC, up to an
aggregate amount of ONE MILLION AND 00/100 U.S. Dollars ($1,000,000.00), arising
from Debtor's obligations to EPIC under the Loan Agreement, whether such
obligations are due or to become due, secured or unsecured, absolute or
contingent, joint or several (collectively, the "Obligations"). GUARANTOR'S
OBLIGATION UNDER THIS CORPORATE GUARANTY ("GUARANTY") IS A GUARANTY OF PAYMENT
AND NOT OF COLLECTION. SHOULD ANY PRESENT OR FUTURE OBLIGATIONS UNDER THE LOAN
AGREEMENT INCURRED BY DEBTOR NOT BE PAID WHEN DUE, EPIC MAY PROCEED AGAINST THE
GUARANTOR FOR SUCH INDEBTEDNESS AT ANY TIME, WITHOUT NOTICE AND WITHOUT ANY
PROCEEDING OR ACTION AGAINST DEBTOR, AND GUARANTOR HEREBY WAIVES ANY DEMAND FOR
PAYMENT. This Guaranty is a primary obligation of Guarantor and shall be
construed as an unconditional, absolute and continuing guaranty, irrespective of
the validity or enforceability of the underlying agreements between EPIC and
Debtor or any other guaranteed amount, the absence of any action to enforce the
same or any circumstances which might otherwise constitute a legal or equitable
discharge or defense of a guarantor. Guarantor hereby waives notice of
acceptance of this Guaranty, of the creation or existence of any of the
guaranteed Obligations and of any action by EPIC in reliance hereon or in
connection herewith, notice of the transactions between EPIC and Debtor, notice
of the execution and delivery, amendment, extension or renewal of any present or
future instrument pertaining to Obligations, diligence, presentment, demand for
payment, protest, notice of default by Debtor, and any other notice not
expressly required by this Guaranty. Guarantor further consents, without further
notice, to any extension or extensions of the time or times of payment of said
Obligations, or any portion thereof, and to any change in form or amount, or
renewal at any time, of such Obligations, or any portion thereof, in each case
up to an aggregate amount of ONE MILLION AND 00/100 U.S. Dollars
($1,000,000.00).

This Guaranty shall remain in full force and effect with respect to the
Obligations until finally and irrevocably paid in full. No termination of this
Guaranty shall affect any Obligations outstanding or contracted or committed for
at the time of termination, and this Guaranty shall remain in full force and
effect with respect to such Obligations until finally and irrevocably paid in
full. In the event that any payment to EPIC in respect of the Obligations is
rescinded or must otherwise be returned for any reason whatsoever, Guarantor
shall remain liable hereunder in respect of such Obligations as if such payment
had not been made. Guarantor reserves the right to assert defenses that Debtor
may have to payment of any Obligation other than defenses arising from the
bankruptcy or insolvency of Debtor or similar proceedings affecting Debtor and
other defenses expressly waived hereby.

Guarantor's obligations hereunder with respect to the Obligations shall not be
affected by the existence, validity, enforceability, perfection or extent of any
collateral for such Obligations covered hereunder, nor by any extension, or the
acceptance of any sum or sums on account of Debtor, or of any note or draft of
Debtor and/or any third party, or security from Debtor. EPIC shall not be
obligated to file any claim relating to the Obligations owing to it in the event
that Debtor becomes subject to bankruptcy, insolvency, reorganization,
liquidation, dissolution, or similar proceedings affecting Debtor (whether
voluntary or involuntary), and the failure of EPIC to so file shall not affect
Guarantor's obligations hereunder.

Should any present or future Obligations incurred by Debtor not be paid when due
or at the time to which the same may be extended, EPIC may proceed against
Guarantor for such Obligations at any time, without notice and without any
proceeding or action against Debtor. Guarantor agrees that EPIC may resort to
Guarantor for payment of any of

                                 Page 32 of 45
<page>

the Obligations, whether or not EPIC shall have resorted to any collateral
security, or shall have proceeded against any other debtor principally or
secondarily obligated with respect to any of the Obligations or any other
guarantor thereof.

With the exception of inter-company payments that cannot be disturbed, Guarantor
shall not exercise any rights which it may have or acquire by way of subrogation
until all of the Obligations are paid in full to EPIC. If any amounts are paid
to Guarantor in violation of the foregoing limitation, then such amounts shall
be held in trust for the benefit of EPIC and shall forthwith be paid to EPIC by
Guarantor to reduce the amount of outstanding Obligations, whether matured or
unmatured. Subject to the foregoing, upon payment of all of the Obligations to
EPIC, Guarantor shall be subrogated to the rights of EPIC against Debtor, and
EPIC agrees to take, at Guarantor's expense, such actions as Guarantor may
reasonably require to implement such subrogation.

The obligations of Guarantor hereunder shall not be subject to any counterclaim,
setoff, deduction, abatement or defense based upon any claim Guarantor or the
Debtor may have against EPIC.

The obligations of Guarantor hereunder shall not be affected by (a) any lack of
validity or enforceability of or defect or deficiency in any Agreement or any
other documents executed in connection with any Agreement; (b) any modification,
extension or waiver of any of the terms of any Agreement; (c) any change in the
time, manner, terms or place of payment of or in any other term of, all or any
of the Obligations, or any other amendment or waiver of or any consent to
departure from any Agreement or any other agreement or instrument executed in
connection therewith; (d) any sale, exchange, release or non-perfection of any
property standing as security for the liabilities hereby guaranteed or any
liabilities incurred directly or indirectly hereunder or any setoff against any
of said liabilities, or any release or amendment or waiver of or consent to
departure from this Guaranty or any other guaranty, for all or any of the
Obligations; (e) except as to applicable statutes of limitation, failure,
omission, delay, waiver or refusal by EPIC to exercise, in whole or in part, any
right or remedy held by EPIC with respect to any Agreement or any transaction
under any Agreement; (f) any change in the existence, structure or ownership of
Guarantor or any Debtor, or any insolvency, bankruptcy, reorganization or other
similar proceeding affecting any Debtor or its assets; or (g) any other
circumstance that might otherwise constitute a defense available to, or a
discharge of, any Debtor or any other individual, partnership, joint venture,
corporation, association, trust or other enterprise that is a party to any
Agreement, or any other agreement or instrument (including any guarantor) in
respect of the Obligations, other than payment in full of the Obligations.

This Guaranty shall not be affected by any change in the entity status or
business structure of Debtor. If Debtor's assets or a major portion thereof are
transferred to any other party or parties otherwise than by operation of law,
and if EPIC enters into any transaction whereby such transferee or transferees
become indebted to EPIC, this Guaranty, subject to all the other terms hereof,
shall apply to any Obligations or balance of Obligations of such other
transferee or transferees to EPIC.

This Guaranty shall inure to and be binding upon the parties, their
representatives, successors and assigns, provided that Guarantor may not assign
or otherwise transfer any of its obligations under this Guaranty, whether by
operation of law or otherwise, without the prior written consent of EPIC, which
consent may be arbitrarily withheld. EPIC may not assign this Guaranty, whether
by operation of law or otherwise, without the prior written consent of the
Guarantor, which consent may not be unreasonably withheld. In the event EPIC
engages in litigation to enforce this Guaranty, Guarantor agrees to pay, in
addition to any amounts of Debtor which Guarantor has otherwise guaranteed to
pay hereunder, any and all costs and expenses incurred by EPIC (including
reasonable attorneys' fees) in enforcing this Guaranty, whether at arbitration,
trial or upon appeal.

Guarantor represents and warrants that, at the time of execution and delivery of
the Guaranty, nothing (whether financial condition or any other condition or
situation) exists to impair in any way the obligations and liabilities of
Guarantor to EPIC under this Guaranty. Guarantor further represents and warrants
to EPIC that: (a) it is a corporation duly organized, validly existing and in
good standing in its jurisdiction of incorporation, with full power and
authority to make and deliver this Guaranty; (b) that the execution, delivery
and performance of this Guaranty by Guarantor have been duly authorized by all
requisite corporate action of Guarantor, and does not and will not violate
provisions of any applicable law or Guarantor's certificate of incorporation or
bylaws; and (c) that the person signing this Guaranty on Guarantor's behalf has
been properly authorized by corporate action to do so.

                                 Page 33 of 45
<page>

This Guaranty constitutes the entire agreement among the parties and supersedes
and cancels any prior agreements, undertakings, declarations and
representations, whether written or oral, regarding the subject matter of this
Guaranty. If any provision of this Guaranty is found by a court of competent
jurisdiction to be void, illegal or otherwise unenforceable in that
jurisdiction, such provision, to the extent of its invalidity, shall be severed
from this Guaranty and be ineffective in that jurisdiction; provided, however,
that such finding shall not affect the validity, legality or enforceability of
such provision in any other jurisdiction or the validity, legality or
enforceability of any other provision of this Guaranty.

The rights and duties of the Guarantor, Debtor and EPIC under this Guaranty
shall be construed and enforced in accordance with, and governed by the laws of,
the State of Oregon, without regard to local conflict of law rules.

Guarantor hereby irrevocably submits to the jurisdiction of the State of Oregon
and consents to venue in Oregon. Guarantor further agrees that it will not claim
that such forum is an inconvenient forum and specifically waives any and all
objections to having any dispute relating to this Agreement resolved in Marion
County Circuit Court in Salem, Oregon.

IN WITNESS WHEREOF, the Guarantor has duly executed this Guaranty on this ____
day of ____________, 2007.

RONSON CORPORATION

By: ________________________________

Name: Louis V. Aronson II

Title: President and Chief Executive Officer

Guarantor's Address: Corporate Park III

                     Campus Drive, P.O. Box 6707

                     Somerset, NJ 08875-6707

              Attn:  ____________________

Guarantor's Federal Tax Identification Number: 22-0743290

*

                                 Page 34 of 45Exhibit 10.6

                     THE CIT GROUP/COMMERCIAL SERVICES, INC.
                               11 West 42nd Street
                                   11th Floor
                            New York, New York 10017

                                November __, 2007

Ronson Corporation
Ronson Consumer Products Corporation
Ronson Aviation, Inc.
Ronson Corporation of Canada, Ltd.
Corporate Park III
Campus Drive
P.O. Box 6707 Somerset, New Jersey 08875-6707

Attn:    Daryl K. Holcomb
         Vice President and Chief Financial Officer

Re:      Financing Agreement dated July 31, 2006 (as heretofore or hereafter
         amended, restated, modified and supplemented from time to time, the
         "Financing Agreement"), by and among The CIT Group/Commercial Services,
         Inc., as agent for itself and for CIT Financial Ltd. ("CIT"), Ronson
         Corporation ("Ronson"), Ronson Consumer Products Corporation ("RCPC"),
         Ronson Aviation, Inc. ("RAI") and Ronson Corporation of Canada, Ltd.
         ("Ronson Canada" and, together with Ronson, RCPC and RAI, each a
         "Company" and collectively, "Companies")

Ladies and Gentlemen:

This waiver, consent and amendment (the "Fifth Amendment") shall become
effective upon satisfaction of the conditions precedent set forth in Paragraph 9
below (the date on which this Fifth Amendment becomes effective shall be
referred to as the "Effective Date"). Capitalized terms used but not otherwise
defined herein shall have the meanings ascribed to them in the Financing
Agreement:

1. Waiver of Existing Default. As of the Effective Date, and subject to the
terms and conditions herein contained, CIT hereby waives the Event of Default
arising solely out of the Companies' failure to comply with Section 7.3(b) of
the Financing Agreement providing that the Companies maintain a Fixed Charge
Coverage Ratio of 1.05 to 1.0 for the 12-month period ending September 30, 2007
(the "Existing Default").

2. Consent to Bank of the West Loan and Ronson Guaranty. As of the Effective
Date, and subject to the terms and conditions herein contained, CIT consents to
(a) the consummation of the Bank of the West Loan (as defined in the amendments
to the Financing Agreement hereinafter set forth) by RAI and (b) the execution
and delivery of the Ronson Guaranty (as defined in the amendments to the
Financing Agreement hereinafter set forth) by Ronson.

3. Specified Intellectual Property. As of the Effective Date, the Companies
acknowledge and agree that the Specified Intellectual Property shall secure all
of the Obligations pursuant to the terms of the amendments to the Financing
Agreement hereinafter set forth.

4. Amendment to Financing Agreement Definitions. As of the Effective Date,
Section 1.1 of the Financing Agreement, Definitions, is amended as follows:
                                        -----------

         a. The defined terms "Collateral", "EPIC Financing" and "EPIC Financing
                               ----------    --------------       --------------
Documents" are amended and restated as set forth below and inserted in Section
---------
1.1 of the Financing Agreement where such terms would otherwise alphabetically
appear:

                                 Page 35 of 45
<page>

                  Collateral shall mean all assets of the Companies, including,
                  ----------
                  without limitation, all present and future Accounts,
                  Equipment, Inventory and other Goods, Documents of Title,
                  General Intangibles, Investment Property, the Airport Lease
                  and Other Collateral, but in all cases other than the Real
                  Property Collateral and the Minority Ronson Canada Interest.

                  EPIC Financing shall mean (a) the principal sum of up to
                  --------------
                  $500,000 extended by EPIC to RAI in order to fund certain of
                  the costs of construction of and improvements to the premises
                  leased to RAI pursuant to the Airport Lease consisting of a
                  hangar facility and ancillary improvements covering
                  approximately 19,200 square feet of space (the "Aircraft
                  Hangar") and evidenced by the EPIC Financing Documents and (b)
                  the guaranty by EPIC of the Bank of the West Loan.

                  EPIC Financing Documents shall mean: (a) a loan agreement by
                  ------------------------
                  and between EPIC and RAI providing for advances to RAI of up
                  to $500,000, as amended by that certain First Amendment to
                  Loan Agreement dated as of November ___, 2007, by and between
                  EPIC and RAI; (b) a security agreement to be executed and
                  delivered by RAI in favor of EPIC granting to EPIC a security
                  interest and lien in and to the Aircraft Hangar, together with
                  all improvements and fixtures thereon; (c) the Ronson
                  Guaranty; and (d) an amendment to fuel purchase contract, all
                  in form and substance heretofore delivered to CIT.

         b. The new defined terms "Bank of the West Loan" and "Ronson Guaranty",
                                   ---------------------       ---------------
as set forth below, are hereby inserted in Section 1.1 of the Financing
Agreements where such terms would otherwise alphabetically appear:

                  Bank of the West Loan shall mean the loan in the principal
                  ---------------------
                  amount of $500,000 extended by Bank of the West to RAI and
                  evidenced by, inter alia, that certain Business Loan
                                ----- ----
                  Agreement, Promissory Note in the principal amount of
                  $500,000, and certain other documents, instruments and
                  agreements executed in connection therewith.

                  Ronson Guaranty shall mean that certain corporate guaranty to
                  ---------------
                  be executed and delivered by Ronson in favor of EPIC with
                  respect to the obligations of RAI to EPIC.

5.       Amendments to Financing Agreement. As of the Effective Date,

         a. Section 6.1(a) of the Financing Agreement is hereby amended and
restated in its entirety as follows:

                  (a) As security for the prompt payment in full of all
                  Obligations, each Company hereby pledges and grants to CIT for
                  the benefit of all Lenders a continuing general lien upon, and
                  security interest in, all the Collateral in which such Company
                  has rights, provided, however, that the foregoing pledge,
                  grant, lien and security interest shall not extend to any
                  asset or property not assignable or capable of being
                  encumbered as a matter of law.

         b. Section 6.10 of the Financing Agreement is hereby deleted in its
entirety and replaced with the following:

         6.10     Intentionally left blank.
                  ------------------------

         c. Section 7.3(b) of the Financing Agreement is hereby amended by
resetting the calculation of the Fixed Charge Coverage Ratio, commencing as of
the fiscal quarter ending December 31, 2007, as follows:

         Fiscal Period                                             Ratio
         -------------                                             -----

         3-month period ending December 31, 2007                   1.05 to 1.0
         12-month period ending March 31, 2007, and each
         12-month period ending at the end of each fiscal
         quarter thereafter                                        1.05 to 1.0

         d. Section 10.3(b) of the Financing Agreement is hereby deleted in its
entirety and replaced with the following:

         (b) Intentionally left blank.

         e. Amendments to Schedule 1.1(b) of the Financing Agreement. As of the
Effective Date, the Ronson Guaranty and the Bank of the West Loan shall
constitute Permitted Indebtedness under the Financing Agreement. In
furtherance of the foregoing,

                                 Page 36 of 45
<page>

                           (1)      Schedule 1.1(b), Permitted Indebtedness,
                                                     ----------------------
                                    Paragraph A, is amended to add the following
                                    Indebtedness of Ronson: "The Ronson
                                    Guaranty."

                           (2)      Schedule 1.1(b), Permitted Indebtedness,
                                    Paragraph C, is amended to add the following
                                    Indebtedness of RAI: "The Bank of the West
                                    Loan."

         6. Representations, Warranties and Statements. The Companies represent
and warrant to CIT that as of the date hereof and except as set forth herein,
(a) except for the representations and warranties set forth in Sections 6.8 and
6.9 of the Financing Agreement, the representations and warranties of the
Companies set forth in the Financing Agreement are true and correct as if made
on this date, (b) other than Permitted Encumbrances, there have been no liens,
encumbrances, security interests, or claims filed against or created in any of
the Collateral from July 31, 2006 to the date hereof, and (c) no Default or
Event of Default exists under the Financing Agreement, other than the Existing
Default.

         7. Acknowledgement of Obligations. The Companies acknowledge, confirm
and agree that as of the date hereof the Obligations remain outstanding and
unconditionally owing by the Companies to CIT without defense, set-off,
counterclaim, discount or charge of any kind.

         8. Confirmation of Security Interest. As security for the payment or
other satisfaction of the Obligations, the Companies hereby reconfirm the
assignment and grant of a continuing perfected first priority (subject only to
Permitted Encumbrances) lien, charge and security interest in and to the
Collateral, whether now owned or hereafter acquired, created or arising and
wherever located, granted to CIT by the Companies under the Financing Agreement
and the other Loan Documents. The Companies hereby confirm and agree that all
such security interests and liens granted to CIT under the Financing Agreement
and the other Loan Documents continue in full force and effect and shall
continue to secure the Obligations. Nothing herein contained is intended to in
any way impair or limit the validity, priority and extent of CIT's existing
security interest in and liens upon the Collateral.

         9. Conditions Precedent. This Fifth Amendment shall become effective
only upon receipt by CIT of all of the documents or other items set forth below,
all in form and substance satisfactory to CIT and its counsel:

                  (a) this Fifth Amendment, duly executed by the Companies, the
Guarantors and the affiliated Subordinating Creditors;

                  (b) the Second Amendment to Trademark, Patent and Industrial
Designs Security Agreement, dated as of the date hereof, duly executed by
Ronson;

                  (c) within five (5) Business Days of the closing, copies of
the fully executed documents executed and delivered in connection with the Bank
of the West Loan; and

                  (d) such other agreements, documents, certificates and
instruments as CIT may reasonably require.

         10. Release. Each of the Companies and each Guarantor hereby absolutely
and unconditionally releases and forever discharges CIT, and any and all
participants, parent corporations, subsidiary corporations, affiliated
corporations, insurers, indemnitors, successors and assigns thereof, together
with all of the present and former directors, officers, agents and employees of
any of the foregoing, from any and all claims, demands or causes of action of
any kind, nature or description, whether arising in law or equity or upon
contract or tort or under any state or federal law or otherwise, which any such
Company or such Guarantor has had, now has or has made claim to have against any
such person for or by reason of any act, omission, matter, cause or thing
whatsoever arising from the beginning of time to and including the Effective
Date, whether such claims, demands and causes of action are matured or unmatured
or known or unknown.

         11. No Other Amendments; No Waiver. Except as expressly modified
hereby, all terms and conditions of the Loan Documents shall remain unmodified
and in full force and effect and are hereby ratified and confirmed by the
Companies, and except as explicitly stated herein nothing contained herein shall
be construed as a waiver by CIT of any rights it may have under the Financing
Agreement, the other Loan Documents or otherwise, to declare a default under the
Financing Agreement or other Loan Documents as a result of any breach by the
Companies, or any of them, of any covenants or agreements contained therein,
whether or not presently known to CIT. The granting of any waiver, consent,
extension or amendment shall not impose or imply an obligation on CIT to grant
any consent, waiver,

                                 Page 37 of 45
<page>

extension or amendment on any future occasion. Companies expressly ratify and
confirm the waiver of jury trial provisions contained in the Loan Documents.

         12. Counterparts. This document may be executed in counterpart, each of
which counterpart shall be deemed to be an original, and such counterparts,
taken together, shall constitute one and the same document.

                      [Signatures appear on following page]

                                 Page 38 of 45
<page>

         Please evidence your agreement to the foregoing by signing below and
returning this letter to us.

                      Very truly yours,

                      THE CIT GROUP/COMMERCIAL SERVICES, INC.

                      By
                        ------------------------------------
                      Name: Marc Theisinger
                      Title:   Vice President

ACKNOWLEDGED and AGREED to on this _____ day of November 2007.

RONSON CORPORATION

By
  ------------------------------------------
Name:
Title:

RONSON CONSUMER PRODUCTS CORPORATION

By
  ------------------------------------------
Name:
Title:

RONSON AVIATION, INC.

By
  ------------------------------------------
Name:
Title:

RONSON CORPORATION OF CANADA LTD.

By
  ------------------------------------------
Name:
Title:

CIT FINANCIAL LIMITED

By:
   -----------------------------------------
Name:
Title:

                                 Page 39 of 45
<page>

                              CONSENT OF GUARANTORS
                              ---------------------

The undersigned Guarantors, intending to be legally bound, do hereby consent to
the execution, delivery and performance of the within and foregoing Fifth
Amendment and confirm and reaffirm, without setoff, counterclaim, deduction or
other claim of avoidance of any nature, the continuing effect of each such
Guarantor's Guaranty of the Guaranteed Obligations (as defined in the respective
Guaranties) after giving effect to the foregoing consent and amendment and all
prior consents and amendments.

ACKNOWLEDGED and AGREED to on this _____ day of November 2007.

------------------------------------------
Louis V. Aronson II

RONSON HYDRAULIC UNITS CORPORATION

By
   ---------------------------------------
Name:
Title:

                  CONSENT OF AFFILIATED SUBORDINATING CREDITORS
                  ---------------------------------------------

Each of the undersigned, an affiliated subordinating creditor, intending to be
legally bound, does hereby consent to the execution, delivery and performance of
the within and foregoing Fifth Amendment and confirms and reaffirms, without
setoff, counterclaim, deduction or other claim of avoidance of any nature, the
continuing effect of such subordinating creditor's Subordination Agreement after
giving effect to the foregoing consent and amendment and all prior consents and
amendments.

ACKNOWLEDGED and AGREED to on this _____ day of November 2007.

RONSON HYDRAULIC UNITS CORPORATION

By
   ---------------------------------------
Name:
Title:

------------------------------------------
Louis V. Aronson II

                                 Page 40 of 45

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