Exhibit 10.1
[TRINITY MARINE
PRODUCTS, INC. STATIONERY]
October 13, 2005
Xx. Xxxx X. Xxxxx
M/G Transport Services, Inc.
0000 Xxxxxxx Xxxx.
Xxxxxx, XX 00000-0000
| Subject: |
Addendum
No. 1 to Vessel Construction Contract dated September 6, 2005 ("Contract") by
and between M/G Transport Services, Inc. (M/G Transport) ("Purchaser") and
Trinity Marine Products, Inc. (TMP) ("Builder"). |
Dear Xx. Xxxxx,
This letter is written confirmation
of our verbal communication, wherein M/G Transport Services, Inc. advised TMP, Xxxxxxx
Xxxxxxxx, of its intent to place an additional order for Twenty (20) 2006 Option Barges
and attach these barges to the subject Contract. Xxxx X. Xxxxx hereby affirms its Order
for 2006, as more specifically described herein and pursuant to the Contract and its
Exhibits. The parties’ execution of this letter confirms that the delivery dates as
noted on Exhibit A Supplemental herein, are mutually agreeable and that M/G Transport
Services, Inc. has accepted the Builder’s Price of as outline din Exhibit
“A” Supplemental per barge.
All terms and conditions of the
Contract remain unchanged and in full force and effect.
This Addendum No. 1 is submitted in
duplicate. If it is an accurate reflection of our agreement for the 2006 Option Barges,
please execute both copies and return one set for our files.
We appreciate your continued
confidence in Trinity Marine Products, Inc. and look forward to working with you on the
construction and delivery of these barges.
Sincerely,
/s/Xxxxxxx Xxxxxxxx
Xxxxxxx Xxxxxxxx
Senior Vice President,
Sales
AGREED AND ACCEPTED AS
TO FORM AND SUBSTANCE:
M/G Transport Services,
Inc.
By: /s/Xxxx X. Xxxxx
Xxxx X. Xxxxx
Date: 10/26/2005
EXHIBIT A –
SUPPLEMENTAL
| I. |
DESCRIPTION OF VESSEL: |
| |
A. |
The
Vessels are: Twenty (20) 195’ x 35’ x 13’ Rake Open Xxxxxx
Barges. |
| |
X. |
Xxxx
No. will be assigned when production starts. |
| |
C. |
The
Vessel shall be built in accordance with the following Contract Documents: |
| |
2. |
Specifications,
dated August 10, 2005, Exhibit “A-1" |
| |
3. |
General
Arrangement Dwg. No. E4185 Exhibit “A-2" |
| |
4. |
Tax
Exemption Form for signature |
| II. |
PRICE AND PAYMENT SCHEDULE: |
| |
A. |
The
contract price for the Vessel is Four Hundred Four Thousand, Six Hundred
Dollars ($404,600.00) per vessel subject to Article II of the Vessel
Construction Contract to which this Exhibit is attached. The contract
price quoted above is subject to plate steel surcharge if applicable. |
| |
B. |
Payment
due in full by wire transfer for Vessels which have been delivered and
accepted at shipyard. Payment due each Friday until all Vessels have been
completed. No further down payment required. |
| |
The Vessel
shall be delivered at Builder’s yard in Caruthersville, MO. |
| |
The
Date of Delivery is December, 2006. If any barges are not completed and delivered in
December, 2006, contiguously they will be finished and delivered in January 2007,
immediately following the barges built and delivered in December, at the same price agreed
upon. |
| V. |
Notice
to Purchaser shall be addressed as follows: |
| |
M/G
Transport Services, Inc.
0000 Xxxxxxx Xxxx.
Tel: 513/000-0000
Xxxxxx, XX 00000-0000
Fax: 513/000-0000
Attention: Xx. Xxxx X. Xxxxx |
| VI. |
The
parties’ representatives are: |
| |
A. |
For
Purchaser: Xx. Xxxx Xxxxx |
| |
B. |
For
Builder: Xx. Xxxxxxx Xxxxxxxx |
EXHIBIT APPROVED BY:
Builder:
/s/SS
(Initial)
Purchaser:
/s/JLL
(Initial)
