Document:

ex101_120111.htm

EXHIBIT 10.1

 

 

This Sales Contract ("Contract") is hereby effective as of 1st day of January 2012, by and between

 

E. I. du Pont de Nemours and Company,

through its Packaging & Industrial Polymers business,

Barley Mill Plaza Building 26

4417 Lancaster Pike

Wilmington, Delaware 1988)

(hereinafter known as “DuPont” or “Seller”)

and

PGT Industries, Inc.

1070 Technology Drive

Nokomis, FL 34275

(hereinafter known as “Buyer")

DuPont and Buyer are hereinafter collectively referred to as the “Parties” and individually as a “Party.”  Intending to be legally bound, Buyer agrees to purchase from DuPont and DuPont agrees to sell to Buyer pursuant to the following conditions:

           1. PRODUCTS/QUANTITY.  DuPont shall sell and Buyer shall purchase Butacite® polyvinyl butyral interlayer, (“Product(s)”).  Buyer agrees throughout the terms of this Contract that it will purchase from DuPont one hundred percent (100%) of its PVB requirements from DuPont.

2.  TERM OF CONTRACT.  This Contract shall be effective from January 1, 2012 to December 31, 2012.

3.  PRICE.  Buyer shall pay DuPont the prices listed in Attachment B for the Products it purchases from DuPont.

4. TERMS OF PAYMENT.  Buyer shall pay DuPont for Products within thirty (30) days of the date of DuPont’s invoice.  A 1% discount will be applied if paid within ten (10) days of the date of DuPont’s invoice.

5. DELIVERY TERMS

(a.)  Delivery will be made within the 48 contiguous United States and Canada.  Transportation will be by method, route and carrier selected by DuPont; Buyer to bear the excess cost of any alternate method, route, or carrier selected by Buyer.

(b.) The delivery terms stated herein may be changed by DuPont at any time by giving Buyer at least sixty (60) days’ notice in writing prior to the effective date of such change.  Such changes shall be applicable to all material shipped hereunder on and after the date they become effective, unless subsequently again revised by Seller as provided herein.

6. USER PROTECTION.  Buyer acknowledges that it has received and is familiar with DuPont’s labeling and literature concerning the Products and will communicate such information to its employees who handle, use, or process such Products.

	
7.  

	
ENTIRE AGREEMENT.  This Contract along with DuPont’s terms and conditions for

sale of products constitute the entire contract between the Parties regarding the subject matter described herein.  The terms and conditions for sale are attached hereto and marked as Attachment A.  There are no other agreements, warranties, terms or conditions, expressed or implied, between the Parties.

	
8.  

	
ASSIGNMENT/AMENDMENT/WAIVER.  This Contract is neither assignable nor transferable, in

whole or in part, except by in writing signed by both Parties.  This Contract may not be amended except by in writing signed by both Parties.  No waiver of any provision of this Contract by either Party shall be enforceable against that Party unless it is in writing and signed by both Parties.

	
9.  

	
NOTICES.  All notices required hereunder shall be sent by United States Postal or a recognized

carrier to the Party to be notified at the addresses specified above.

10.  HARDSHIP.  The Parties agree that it is not their intention that the effect or consequences of entering into this Contract should be to cause hardship but, despite the Parties’ best intent and as a result of changes in economic or market conditions, such hardship may be caused to either Party in complying with the terms of this Contract at the negotiated prices.  If such hardship arises, either Party may give notice in writing that it wishes to review the provisions of this Contract in light of such changed economic or market conditions.  The Parties agree that within thirty (30) days of the giving of such notice by either Party, the Parties shall negotiate in good faith modifications to this Contract to relieve such hardship in a manner equitable to both Parties.  If, within forty-five (45) days after giving of such notice, the Parties are unable to agree upon modification to this Contract, either Party may refer the dispute to an upper management representative from both Parties.  If thirty (30) days after the referral date, the Parties are still unable to resolve the dispute, the dispute shall be referred to arbitration and settled by binding arbitration in accordance with the rules of the American Arbitration Association.

11. TERMS AND CONDITIONS OF SALE.  All sales and purchases under this Contract are subject to

DuPont’s Terms and Conditions of Sale (attached hereto as Attachment A) except to the extent inconsistent with the terms of this Contract.

12. GOVERNING LAW.  This Contract shall be governed by the laws of the State of Delaware.

13. CONFIDENTIALITY.  Any knowledge or information disclosed between Buyer and DuPont which

relates in any way to the Products and services of this Contract, the prices contained within the Contract,  or the fact of this Contract, unless otherwise agreed to in writing, or required by a governmental agency, shall be deemed proprietary and confidential and shall not be disclosed by either Party to any third party.  Both Parties shall keep confidential any technical, process, or economic information derived from the other in connection with this Contract and shall not divulge such information, directly or indirectly, for the benefit of any Party unless previously agreed to in writing by the other Party.

 

 

BUYER’S ACCEPTANCE:                                                                                     E. I. DU PONT DE NEMOURS AND COMPANY

PGT INDUSTRIES, INC.                                                                                     PACKAGING & INDUSTRIAL POLYMERS

By:           /s/ Brad Voss                                                                  By:           /s/ Stephen Cox 

Title:  Director of Strategic Purchasing                                                       Title:           Director 

Date:           November 30, 2011                                                                      Date:           December 1, 2011ivoi_ex101.htm

 

EXHIBIT 10.1

 

Amendment to Amended and Restated Agreement and Plan of Merger

Amendment No. 1

This Amendment No. 1 dated November 22, 2011 hereby amends the Amended and Restated Agreement and Plan of Merger (the “Agreement”) dated November 8, 2011 by and between iVoice, Inc. (“IVOI”), and Hydra Fuel Cell Corporation (“HYDRA”).

Now, therefore, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties, and covenants herein contained, the parties agree as follows:

	
  

	
1.

	
iVoice Innovations, Inc., a New Jersey corporation, (“iVoice Innovations”) is hereby added as a party to this Agreement.

	
  

	
2.

	
Exhibit C referred to in Section 12 of the Agreement shall hereinafter be referred to as Exhibit D.  Exhibit C is attached hereto.

	
  

	
3.

	
The additional language shown below shall be added to Section 6(b) of the Agreement:

 

(x) At the Closing, IVOI shall deliver to HYDRA:

 

(A) the original stock certificates representing the 1,000,000 Shares of Preferred Stock in IVOI; any and all consents, approvals, notices, filings or recordations of third parties required with respect to the execution and delivery of this Agreement or the transactions contemplated hereby or by any of the agreements, documents or instruments referred to herein;

 

(B) evidence, in form and substance reasonably satisfactory to HYDRA, that any and all shareholder agreements or similar agreements to which IVOI and the IVOI Shareholders, or any of them, are a party or to which they or any of them may be subject have been duly terminated;

 

(C) a copy of the Articles of Incorporation and Bylaws of IVOI, each as amended to date, and the resolutions adopted by the Board of Directors of IVOI approving, authorizing and directing the execution of this Agreement and the transactions contemplated thereby, each certified by the Secretary of IVOI as being in full force and effect on and as of the Closing Date;

 

(D) a certificate of the Secretary of State of New Jersey to the effect that IVOI is a validly existing corporation in good standing under the laws of the State of New Jersey and a certificate from the Secretary of State of each other state in which the character of its properties owned or leased or the nature of its activities requires qualification as a foreign corporation doing business in such state to the effect that IVOI is a foreign corporation in good standing under the laws of such state; and

 

(E) an opinion of legal counsel to IVOI to the effect that: (i) IVOI is a corporation duly incorporated, validly existing and in good standing under the laws of New Jersey and is duly qualified as a foreign corporation in each state in which the character of its properties owned or leased or the nature of its activities requires qualification as a foreign corporation doing business in such state, except where the failure to be so qualified would not have a material adverse effect on IVOI; (ii) this Agreement and each related agreement to which IVOI is a party has been duly authorized, executed and delivered by IVOI and each of this Agreement and each such related agreement constitutes the valid and binding obligation of IVOI enforceable against IVOI in accordance with its terms, except (x) as the same may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter in effect relating to creditors’ rights generally and (y) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought; and (iii) IVOI, through its Board of Directors and shareholders, has taken all corporate action necessary for the approval of the execution, delivery and performance of this Agreement by IVOI.

  

  

  

	
  

	
 

	
 

(xi) At the Closing, iVoice Innovations shall deliver to HYDRA:

 

(A) any and all consents, approvals, notices, filings or recordations of third parties required with respect to the execution and delivery of this Agreement or the transactions contemplated hereby or by any of the agreements, documents or instruments referred to herein;

 

(B)           evidence, in form and substance reasonably satisfactory to HYDRA, that any and all shareholder agreements or similar agreements to which iVoice Innovations and the iVoice Innovations Shareholders, or any of them, are a party or to which they or any of them may be subject have been duly terminated;

 

(C)           a certificate of the president or chief executive officer of iVoice Innovations certifying that the representations and warranties by iVoice Innovations set forth in this Agreement and in any certificate or document delivered pursuant to the provisions of this Agreement are true and accurate, on and as of the Closing Date, and that iVoice Innovations has performed and complied in all material respects with all agreements, obligations and conditions required by this Agreement to be performed or complied with by it on or prior to the Closing Date;

 

(D)           a copy of the Articles of Incorporation and Bylaws of iVoice Innovations, each as amended to date, and the resolutions adopted by the Board of Directors of iVoice Innovations approving, authorizing and directing the execution of this Agreement and the transactions contemplated thereby, each certified by the Secretary of iVoice Innovations as being in full force and effect on and as of the Closing Date;

 

(E)           a certificate of the Secretary of State of New Jersey to the effect that iVoice Innovations is a validly existing corporation in good standing under the laws of the State of New Jersey and a certificate from the Secretary of State of each other state in which the character of its properties owned or leased or the nature of its activities requires qualification as a foreign corporation doing business in such state to the effect that iVoice Innovations is a foreign corporation in good standing under the laws of such state; and

  

  

  

(F)           an opinion of legal counsel to iVoice Innovations to the effect that: (i) iVoice Innovations is a corporation duly incorporated, validly existing and in good standing under the laws of New Jersey and is duly qualified as a foreign corporation in each state in which the character of its properties owned or leased or the nature of its activities requires qualification as a foreign corporation doing business in such state, except where the failure to be so qualified would not have a material adverse effect on iVoice Innovations; (ii) this Agreement and each related agreement to which iVoice Innovations is a party has been duly authorized, executed and delivered by iVoice Innovations and each of this Agreement and each such related agreement constitutes the valid and binding obligation of iVoice Innovations enforceable against iVoice Innovations in accordance with its terms, except (x) as the same may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter in effect relating to creditors’ rights generally and (y) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought; and (iii) iVoice Innovations, through its Board of Directors and shareholders, has taken all corporate action necessary for the approval of the execution, delivery and performance of this Agreement by iVoice Innovations.

 

	
  

	
4.

	
An additional Section 13 shall be added to the Agreement as shown below”

 

13.           Governing Law.  This Agreement and the legal relations between the parties hereto shall be governed by and construed in accordance with the internal laws of the State of New Jersey, without giving effect to the conflicts of laws principles thereof.

All other terms and conditions shall remain in full force and effect.

  

  

  

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date affixed below.

 

 

	 	iVoice, Inc. 	 	 	Hydra Fuel Cell Corporation	 
	 	 	 	 	 	 
	By:	 	 	By:	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Title:	 	 	Title:	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Date:	 	 	Date: 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	iVoice Innovations, Inc.	 	 	 	 
	 	 	 	 	 	 
	By:	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Title:	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Date:

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