Exhibit 10-b
REAFFIRMATION OF GUARANTY
-------------------------
The undersigned guarantor of the Obligations of the Borrower to the Lender
pursuant to a Corporate Guaranty Agreement dated January 6, 1995 ("Guaranty")
does hereby acknowledge and consent to the transaction contemplated by the
Amendment and reaffirms the covenants, representations and warranties in the
Guaranty are absolute, unconditional and in full force and effect.
Further, the undersigned agrees to maintain earnings (or losses) (but
excluding therefrom extraordinary items and non-recurring gains) before
interest, taxes, depreciation and amortization of not less than: (i) $810,000
for the period ending June 30, 2005 and (ii) $1,076,000 for the period ending
September 30, 2005, tested on a rolling 4 quarter basis. At the option of the
Lender, any default of this covenant may be deemed an Event of default under the
Loan Agreement.
WITNESS: RONSON CORPORATION
By: /s/ Xxxxx X. Xxxxxxx By: /s/ Xxxxx X. Xxxxxxx, XX
----------------------------- ---------------------------------
Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx, XX
Vice President President and Chief Executive Officer
