Document:

f8k0211ex10xvd_adsinmotion.htm

Exhibit 10.15(d)

 

SECOND AMENDATORY AGREEMENT

 

          This SECOND AMENDATORY AGREEMENT is made and entered into effective Sept 28 450 (fthe “Effcclive Date”) by ajid among STANLEY LOGISTICS, INC., a Delaware corporation, and THE STANLEY WORKS, a Connecticut Corporation, with its principal place of business at 1000 Stanley DriuvNew Britain, Connecticut 06053 (collectively “OWNER”), and MAGLA PRODUCTS, LLC New Jersey corporation with its principal place of 159 Soulh Street, P.O. Box 1934, MorristownTNew Jersey 07960 (hereinafter “LICENSEE”).

 

          “WHEREAS, OWNER and LICENSEE have entered into a License Agreement effective November 2, 1998 and amended on November 11, 1999 (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 “ROYALTY RATE” set forth in EXHIBIT 3 of the Agreement shall be modified as follows:

	  	  	  
	  	  	
ROYALTY RATE:

	  	  	  
	  	  	
                                                        rate shall be applicable to the LICENSED ARTICLES below                                                        

 

	  	
#3923 Leather Palm Glove w/Safety Cuff (also available in multi-pack)

	  	  
	  	
#5020 Leather “A* Palm Glove w/Knit Wrist

	  	  
	  	
#3925 Kid’s Leather Palm Glove

	  	  
	  	
#4223 V Power Dot Canvas (also available in multi-pack)

	  	  
	  	
#4023 All Purpose Canvas Glove (also available in multi-pack)

	  	  
	  	
#4323 Brown Jersey Glove (also available in multi-pack)

	  	  
	  	
#3823 Dotted Brown Jersey

	  	  
	  	
#6631 Reinforced Tip Garden Glove

	  	  
	  	
#6416 Promo Garden Glove w/Dots (also available as a multi-pack)

	  	  
	  	
#1631/32/33/34 Utility Plus Latex Coated Knit Glove

	  	  
	  	
#6221/23 Wet Soil Latex Coaled Jersey Glove

	  	  
	  	
#4526/28 Mega Grip Dotted Knit Glove

  

1

  

	  	  	  
	  	
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 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:

	
VP Mktg.

	  	  	  	  	  
	  	  	  	  
	  	  	  	
STANLEY LOGISTICS, INC.

	  	  	  	  	  
	  	  	  	
By:

	
/s/ Kenneth O. Lewis

	  	  	  	  	  
	  	  	  	
Title:

	
Pres.

 

 

 

 

2f8k0211ex10xve_adsinmotion.htm

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  111111 11111 111111111 11111 111111

 

	 	
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 Development

 

 

 1f8k0211ex10xvf_adsinmotion.htm

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 11111111111111111

	 	  	  	  
	 	
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                                                        

	 	 	 
	  	
C)

	
ROLLING RENEWAL TERM (the “Rolling Renewal Term”): Following the Automatic Renewal Term, this Agreement shall                                                                                                                                                                                                                                                        

	  	  	  
	  	
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

  

 

	 	
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                                                          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  1111111111111 shall be the greater of   11111111111 or  1111111111111111111111111  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/ ** Signature Illegible **

	  	  	  	  	  
	  	  	  	
Title:

	
President, Stanley Logistics, Inc.

	  	  	  	  	
 

	  	  	  	
Date:

	
9/19/03

 

3

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