Document:

f8k0211a4ex10xivc_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 10.14(c)

 

AMENDMENT NO. 2 TO THE

TRADEMARK LICENSE AGREEMENT

 

THIS AMENDMENT NO. 2 dated and effective as of December 1, 2004 (this "Amendment") is to the Trademark License Agreement (the "License Agreement") dated April 17, 2000 and Amendment NO. 1 dated May 1, 2002 between The Procter & Gamble Company, an Ohio corporation ("Licensor"), and Magla Products LIC, a New Jersey limited liability company (licensee"),

 

RECITALS

 

WHEREAS, Licensor and Licensee have entered into the License Agreement; and

 

WHEREAS, Licensor and Licensee each desire to amend certain terms refating to the royalty payments, and the term and termination of the License Agreement;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee hereby agree as follows:

 

	
1.

	
Definitions. Terms defined in the License Agreement and not otherwise defined herein are used herein as defined in the License Agreement.

 

	
2.

	
Amendments to License Agreement,

 

2.1   Term.

The date by which the License Agreement shall terminate is hereby changed to December 31, 2008 Accordingly, the first sentence of Section 3 (Term) of the License Agreement is hereby amended by substituting the date "December 31, 2008 for the date "June 30, 2003 in such Section.

 

The remainder of Section 3 is not amended and remains in full force and effect.

 

2.2   Licensee's Obligations.

Section 4. C. The following shall be added; Licensee will recommend the products included within the defined term 'Products" to P&G on an annual basis at a time that will allow Licensee to meet its customer and manufacturing time tables for the following spring sales. P&G will have the final say on which products are included for the year. P&G will have four weeks to make its final decision in writing once the recommendation is made by Licensee. If Licensee does not receive a response to its request for approval within four weeks, then any new products will be deemed not approved whereas any products from the previous year will be deemed approved. Additional products can be added to the line up throughout the year with mutual written consent of P&G and Licensee. If any products from a prior year are discontinued Licensee will have one year to sell inventory at no less than 50% of the best price during the past 12 months.

 

2.3   Royalties.

Section 8. A. (i) [Royalties] and A (ii) [Yearly Sales Projections] of the License Agreement are hereby amended by replacing them with the following:

 

A. (i) Royalties

 

Licensee agrees to pay Licensor  [***]of the Products for sales up to and in excess of the Yearly Sales Projections set forth in Section 8. A (ii) and (iii) below.

 

	
(ii) Yearly Sales Projections for Gloves and Wipes

	
Year 1  [***]

	
[***]

	
Year 2  [***]

	
[***]

	
Year 3     [***]

	
[***]

	
Year 4   [***]

	
[***]

	
Year 5    [***]

	
[***]

	
Year 6  [***]

	
[***]

	
Year 7   [***]

	
[***]

	
Year 8  [***]

	
[***]

	  	  

 

  

1

  

 

Amendment No. 2 to the

License Agreement

 

***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

 

The remainder of Section 8 (A) Is not amended and remains in full force and effect.

 

2.4   Minimum Royalties

Section B (B) (Minimum Royalty) of the License Agreement is hereby amended by replacing it with following:

 

B. (i) Minimum Royalties[***]

 

Regardless of amount of Net Sales, Licensee shall pay Licensor a Minimum Annual Royalty of [***] as a non-refundable minimum annual guarantee against Royalties to be paid to Licensor during the term of this Agreement. Said Minimum Royalty shall be paid on or before December 3t of each Contract Year.

 

3.           Effect of Amendments to License Agreement. To the extent the terms and conditions of the License Agreement conflict with the terms and conditions of this Amendment, the terms and conditions of this Amendment shall control and supersede those of the License Agreement.

 

4.           Remaining Terms and Conditions of License Agreement. Unless amended herein, all other terms and conditions of the License Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date above written.

 

 

	
THE PROCTER & GAMBLE COMPANY

	  
	  	  	  
	
By:

	
/s/ Jeffery D. Weedman

	  
	
Jeffery D. Weedman

	
Vice President

	
External Business Development and Global Licensing

Date: 15 December 2004               

 

 

	
MAGLA PRODUCTS, LLC.

	  
	  	  	  
	
By:

	
/s/ Jordan Glatt

	  
	
Jordan Glatt

	
President

Date: 12/7/04                    

 

 

 2f8k0211a4ex10xivd_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 10.14(d)

 

AMENDMENT NO. 3 TO THE

TRADEMARK LICENSE AGREEMENT

 

THIS AMENDMENT ND. 3 dated and effective as of May 15, 2006 (this "Amendment") is to the Trademark License Agreement (the "License Agreement") dated April 17, 2000 and Amendment NO. 1 dated May 1, 2002 and Amendment NO. 2 dated December 1, 2004 between The Procter & Gamble Company, an Ohio corporation ("Licensor'"), and Magla Products LLC, a New Jersey limited liability company ("Licensee"),

 

RECITALS

 

WHEREAS,Licensor and Licensee have entered into the License Agreement; and

 

WHEREAS,licensor and Licensee each desire to amend certain terms relating to the royalty rates of the License Agreement;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee hereby agree as follows:

 

	
1.  

	
Definitions. Terms defined in the License Agreement and not otherwise defined heroin are used herein as defined in the License Agreement.

 

	
2.  

	
Amendments to License Agreement

 

2.1 Royalties.

Section 8. A. (i) [Royalties) of the License Agreement is hereby amended by replacing with the following: are used herein as defined in the License Agreement.

 

A. (i) Royalties

Licensee agrees to pay Licensor [***] of the Products for sales up to and in excess of the Yearly Sales Projections set forth in Section 8. A (ii) arid (iii) for the period   beginning July 1, 2006 and ending June 30, 2007. Licensee agrees to pay Licensor [***] of the Products for the remaining term of the Agreement.

 

The remainder of Section 8 (A) is not amended and remains in full force and effect.

 

	
3.

	
Effect of Amendments to License Agreement. To the extent the terms and conditions of the License Agreement conflict with the terms and conditions of this Amendment, the terms and conditions of this Amendment shall control and supersede those of the License Agreement.

 

	
4.

	
Remaining Terms and Conditions of License Agreement, Unless amended herein, all other terms and conditions of the License Agreement shall remain in full force and effect.

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date above written.

 

	
 THE PROCTER & GAMBLE COMPANY

	  	
 MAGLA PRODUCTS, LLC

	  	  	  
	
 By:

	
 /s/ Jeffery D. Weedman

	  	
 By:

	
 /s/ Jordan Glatt

	  	  	  
	
 Jeffery D. Weedman

	  	
 Jordan Glatt

	
 Vice President External Business Development

	  	
 President

	  	  	  	  	  
	
 Date:

	
  June 14, 2006

	  	
 Date:

	
  6/5/06f8k0211a4ex10xive_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 10.14(e)

 

 

AMENDMENT NO. 4 TO THE

TRADEMARK LICENSE AGREEMENT

 

THIS AMENDMENT NO, 4 dated and effective as of April 1, 2008 (this "Amendment") is to the Trademark License Agreement (the "License Agreement") dated April 17, 2000 and Amendment No, 1 dated May 1, 2002 and Amendment No. 2 dated December 1, 2004 and Amendment No, 3 dated May 15, 2006 between The Procter & Gamble Company, an Ohio corporation ("Licensor"), and Magla Products LLC, a New Jersey limited liability company ("Licensee").

 

RECITALS

 

WHEREAS, Licensor and Licensee have entered into the License Agreement; and

 

WHEREAS, Licensor and Licensee each desire to amend certain terms of the License Agreement;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee hereby agree as follows:

 

1.   Amendments to License Agreement.

 

1.1 Term.

 

The date by which the License Agreement shall terminate is hereby changed to December 31, 2011 Accordingly, the first sentence of Section 3 (Term) of the License Agreement is hereby amended by substituting the date "December 31, 2011 for the date "December 31, 2008 in such Section.

 

The remainder of Section 3 is not amended and remains in full force and effect.

 

1.2 Royalties.

 

Section 8. A. (i) (Royalties) is hereby amended by replacing it with the following:

 

A. (i) Royalties

Licensee shall pay Licensor a royalty of [***] of Net Sales of the Products.

 

(ii) Yearly Sales Projections for Gloves and Wipes  

This section is deleted.

 

The remainder of Section 8 (A) is not amended and remains in full force and effect.

 

1.3 Minimum Royalties

 

Section 8 (B) (Minimum Royalty) of the License Agreement is hereby amended by replacing it with following:

 

B. (i) Minimum Royalties - for Gloves and Wipes

 

Regardless of the amount of Net Sales, Licensee shall pay Licensor a Minimum Annual Royalty of U.S. [***]to be paid to Licensor during the term of this Agreement. Said Minimum Royalty shall be paid on or before December 31 of each Contract 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

 

1.4 Termination

 

Section 11 (A) (Termination) the following shall be added;

 

(viii) if Licensee fails to meet the Minimum Net Sales required for any Contract Year as set forth below:

 

	
Contract Year

	
Minimum Net Sales

	
[***]

	
[***]

	
[***]

	
[***]

	
[***]

	
[***]

   

1.5 Miscellaneous

 

Section 15(M) is amended to substitute the last line "Licensor reserves.... affiliated with Licensor" with "This AGREEMENT may be assigned in whole or part by P&G to any THIRD PARTY."

 

1.6. Amendment No. 1

 

Paragraph 2.7 of Amendment No. I to the Trademark License Agreement amending Section 1 1(A)(vi) of the License Agreement, the following language is hereby added at the end of such amendment: ". . , or a majority of the voting interests in Licensee are owned by individuals and/or entities who are reasonably satisfactory to Licensor,"

 

	
2. 

	
Effect of Amendments to License Agreement. To the extent the terms and conditions of the License Agreement conflict with the terms and conditions of this Amendment, the terms and conditions of this Amendment shall control and supersede those of the License Agreement.

 

	
3. 

	
Remaining Terms and conditions  of License Agreement. This Amendment amends certain provisions of the License Agreement but shall not constitute a waiver, amendment or modification of any provision of the License Agreement not expressly referred herein. Except as expressly amended and modified herein, the provisions of the License Agreement shall remain in full force and effect.

 

	
4. 

	
Counterparts. This Amendment may be executed in one or more counterparts each of which shall be deemed an original and all of which together shall constitute one and the same original.

 

	
5. 

	
Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Ohio, without respect to its conflicts of law principle.

 

	
6. 

	
Effects of Amendment, Representations, Warranties and Agreements. All amendments to the License Agreement affected by this Amendment, and all other covenants, agreements, terms and provisions of this Amendment shall have effect as of the Effective Date unless expressly stated otherwise. This Amendment shall be effective as of the date that copies hereof have been executed and delivered by each of the Licensor and Licensee. From and after the date hereof, all references made in the License Agreement to "the Agreement" and "this Agreement" shall be a reference to the License Agreement as amended by this Amendment No. 4 to the License Agreement.

 

  

2

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date above Written.

 

 

	
 THE PROCTER & GAMBLE COMPANY

	  	
 MAGLA PRODUCTS, LLC

	  	  	  
	
 By:

	
 /s/ Jeffery D. Woodman

	  	
 By:

	
 /s/ Jordan Glatt

	  	  	  
	
 Jeffery D. Woodman

	  	
 Jordan Glatt

	
 Vice President

	  	
 President

	
 External Business Development

	  	  	  
	  	  	  	  	  
	
 Date:

	
  May 6, 2008

	  	
 Date:

	
  4/30/2008

 

 

 

 

 3

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