Document:

a6257555ex10-2.htm

Exhibit 10.2

Executive Compensation Recoupment Policy

On March 26, 2010, the Compensation Committee of the Board of Directors of Ford Motor Company formally adopted a policy of recoupment of compensation in certain circumstances.  The purpose of this policy is to help ensure executives act in the best interests of the Company.  The policy requires all Company officers to repay or return cash bonuses and/or equity awards in the event:  (i) the Company issues a material restatement of its financial statements and where the restatement was caused by an employee's intentional misconduct; (ii) the employee was found to be in violation of non-compete provisions of any plan or agreement; or (iii) the employee has committed ethical or criminal violations.  The Compensation Committee will consider all relevant factors and exercise business judgment in determining any appropriate amounts to recoup and has the discretion to determine the timing and form of recoupment.  The policy will apply to the Annual Incentive Compensation Plan beginning with the 2010 performance period and equity awards beginning with grants made in 2011.a6257555ex10-3.htm

Exhibit 10.3

Amendment Dated May 5, 2010 to the Consulting Agreement

between Ford Motor Company and Edsel B. Ford II

On May 5, 2010, Ford Motor Company and Edsel B. Ford II, a director of and consultant to the Company, agreed to amend Mr. Ford's January 1999 consulting agreement to provide that, effective beginning with the third calendar quarter of 2010 and for the remainder of 2010, the payment of the consulting fee of $125,000 per calendar quarter shall be paid in cash instead of in restricted shares of Company common stock.  For each year thereafter that the consulting agreement remains in effect, the Company and Mr. Ford will agree prior to December 31 of each year whether the subsequent yearly fee will be paid in cash or restricted stock.ex10-1.htm

Exhibit 10.1

 

 

EIGHTH AMENDMENT TO PERSONAL SERVICES AGREEMENT

 

THIS EIGHTH AMENDMENT TO PERSONAL SERVICES AGREEMENT, dated as of February 9, 2010 by and between American Biltrite Inc., a Delaware corporation (“ABI”) and Congoleum Corporation, a Delaware corporation (“Congoleum”);

 

WITNESSETH: 

 

THAT WHEREAS, ABI and Congoleum are parties to a Personal Services Agreement, dated as of March 11, 1993 (the “Personal Services Agreement”), as amended February 8, 1995, November 15, 1996, March 10, 1998, November 7, 2002, March 11, 2008, September 23, 2008, and June 17, 2009 pursuant to which ABI agreed that Roger S. Marcus would serve as the Chef Executive Officer of Congoleum and Richard G. Marcus would serve as the Vice Chairman of Congoleum, subject to certain terms and conditions set forth in the Personal Services Agreement;

 

NOW, THEREFORE, in consideration of the agreement set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Term. The term of the Personal Services Agreement is renewed until the earlier of (a) the effective date of a plan of reorganization for Congoleum Corporation, et al., following a final order of confirmation, or (b) June 30, 2010.

 

	
  

	
2.

	
Ratification. Each of ABI and Congoleum hereby ratifies and confirms all of the terms and provisions of the Personal Services Agreement, as amended hereby.

 

	
  

	
3.

	
Counterparts. This Amendment to Personal Services Agreement may be executed in one or more counterparts, each of which shall be an original but all of which shall collectively constitute a single instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment to Personal Services Agreement as of the date first above written.

 

	  	
AMERICAN BILTRITE INC.

	  	  	  
	  	
By:

	
/s/ Richard G. Marcus

	  	
Name:

	
Richard G. Marcus

	  	
Title:

	
President

	  	  	  
	  	  	  
	  	
CONGOLEUM CORPORATION

	  	  	  
	  	
By:

	  
	  	
Name:

	
Roger S. Marcus

	  	
Title:

	
Chief Executive Officer

 

  

  

  

EIGHTH AMENDMENT TO PERSONAL SERVICES AGREEMENT

THIS EIGHTH AMENDMENT TO PERSONAL SERVICES AGREEMENT, dated as of February 9, 2010 by and between American Biltrite Inc., a Delaware corporation (“ABI”) and Congoleum Corporation, a Delaware corporation (“Congoleum”);

 

WITNESSETH:

THAT WHEREAS, ABI and Congoleum are parties to a Personal Services Agreement, dated as of March 11, 1993 (the “Personal Services Agreement”), as amended February 8, 1995, November 15, 1996, March 10, 1998, November 7, 2002, March 11, 2008, September 23, 2008, and June 17, 2009 pursuant to which ABI agreed that Roger S. Marcus would serve as the Chief Executive Officer of Congoleum and Richard G. Marcus would serve as the Vice Chairman of Congoleum, subject to certain terms and conditions set forth in the Personal Services Agreement;

 

NOW, THEREFORE, in consideration of the agreement set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Term. The term of the Personal Services Agreement is renewed until the earlier of (a) the effective date of a plan of reorganization for Congoleum Corporation, et al., following a final order of confirmation, or (b) June 30, 2010.

 

	
  

	
2.

	
Ratification. Each of ABI and Congoleum hereby ratifies and confirms all of the terms and provisions of the Personal Services Agreement, as amended hereby.

 

	
  

	
3.

	
Counterparts. This Amendment to Personal Services Agreement may be executed in one or more counterparts, each of which shall be an original but all of which shall collectively constitute a single instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment to Personal Services Agreement as of the date first above written.

 

	  	
AMERICAN BILTRITE INC.

	  	  	  
	  	
By:

	  
	  	
Name:

	
Richard G. Marcus

	  	
Title:

	
President

	  	  	  
	  	  	  
	  	
CONGOLEUM CORPORATION

	  	  	  
	  	
By:

	
/s/ Roger S. Marcus

	  	
Name:

	
Roger S. Marcus

	  	
Title:

	
Chief Executive Officerex10-2.htm

Exhibit 10.2

 

 

AMENDMENT TO BUSINESS RELATIONS AGREEMENT

 

THIS AMENDMENT TO BUSINESS RELATIONS AGREEMENT, dated as of February 9, 2010 by and between American Biltrite Inc., a Delaware corporation (“ABI”) and Congoleum Corporation, a Delaware corporation (“Congoleum”);

 

WITNESSETH:

THAT WHEREAS, ABI and Congoleum are parties to a Business Relations Agreement, dated as of March 11, 1993 (the “Business Relations Agreement”), as amended August 9, 1997, and as renewed annually through March 11, 2008, and as amended March 11, 2008, September 23, 2008 and June 17, 2009, pursuant to which Congoleum granted to ABI the exclusive right and license (except as to Congoleum itself) to distribute Congoleum's vinyl, vinyl composition and other floor tile in Canada, subject to certain terms and conditions set forth in the Business Relations Agreement, as amended;

 

NOW, THEREFORE, in consideration of the agreement set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Term. The term of the Business Relations Agreement is renewed until the earlier of:(a) the effective date of a plan of reorganization for Congoleum Corporation, et al., following a final order of confirmation, or (b) June 30,2010.

 

	
  

	
2.

	
Ratification. Each of ABI and Congoleum hereby ratifies and confirms all of the terms and provisions of the Business Relations Agreement, as amended hereby.

 

	
  

	
3.

	
Counterparts. This Amendment to Business Relations Agreement may be executed in one or more counterparts, each of which shall be an original but all of which shall collectively constitute a single instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment to Business Relations Agreement as of the date first above written.

 

	  	
AMERICAN BILTRITE INC.

	  	  	  
	  	
By:

	
/s/ Richard G. Marcus

	  	
Name:

	
Richard G. Marcus

	  	
Title:

	
President

	  	  	  
	  	  	  
	  	
CONGOLEUM CORPORATION

	  	  	  
	  	
By:

	  
	  	
Name:

	
Roger S. Marcus

	  	
Title:

	
Chief Executive Officer

  

  

  

AMENDMENT TO BUSINESS RELATIONS AGREEMENT

 

THIS AMENDMENT TO BUSINESS RELATIONS AGREEMENT, dated as of February 9, 2010 by and between American Biltrite Inc., a Delaware cornoration (“ABI”) and Congoleum Corporation, a Delaware corporation (“Congoleum”);

 

WITNESSETH:

THAT WHEREAS, ABI and Congoleum are parties to a Business Relations Agreement, dated as of March 11, 1993 (the “Business Relations Agreement”), as amended August 9, 1997, and as renewed annually through March 11, 2008, and as amended March 11, 2008, September 23, 2008 and June 17, 2009, pursuant to which Congoleum granted to ABI the exclusive right and license (except as to Congoleum itself) to distribute Congoleum's vinyl, vinyl composition and other floor tile in Canada, subject to certain terms and conditions set forth in the Business Relations Agreement, as amended;

 

NOW, THEREFORE, in consideration of the agreement set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Term. The term of the Business Relations Agreement is renewed until the earlier of:(a) the effective date of a plan of reorganization for Congoleum Corporation, et al., following a final order of confirmation, or (b) June 30,2010.

 

	
  

	
2.

	
Ratification. Each of ABI and Congoleum hereby ratifies and confirms all of the terms and provisions of the Business Relations Agreement, as amended hereby.

 

	
  

	
3.

	
Counterparts. This Amendment to Business Relations Agreement may be executed in one or more counterparts, each of which shall be an original but all of which shall collectively constitute a single instrument.

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment to Business Relations Agreement as of the date first above written.

 

	  	
AMERICAN BILTRITE INC.

	  	  	  
	  	
By:

	  
	  	
Name:

	
Richard G. Marcus

	  	
Title:

	
President

	  	  	  
	  	  	  
	  	
CONGOLEUM CORPORATION

	  	  	  
	  	
By:

	
/s/ Roger S. Marcus

	  	
Name:

	
Roger S. Marcus

	  	
Title:

	
Chief Executive Officer

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