Exhibit 10.15.1
FIRST AMENDMENT TO AGREEMENT
NESTAWAY DIVISION OF AXIA INCORPORATED ("Seller") and MAYTAG CORPORATION
("Buyer") mutually desire their Purchasing Partnering Agreement (the
"Agreement" effective January 1, 1996) concerning dishwasher racks be amended as
follows (hereinafter the "Amendment"). This Amendment shall be effective as of
the date of signing (the "Effective Date").
Page 2, Section III of the Agreement is amended to strike the following:
"In the event, during any 12 month period beginning January 1, 1998 (the
"second period") Purchaser's orders with Seller are less than the
Purchasing Goal, Seller may continue the relationship on the terms stated
herein, or terminate this Agreement with six (6) months written notice. The
preceding sentence states the sole recourse of Seller for any inability by
Purchaser to meet the stated Purchasing Goal."
Page 2, Section IV of the Agreement is deleted in its entirety and the following
shall be inserted in its place:
"The Agreement, as amended from time to time, shall expire as of the close
of business on December 31, 2003 unless earlier terminated as provided in
the Agreement."
Page 3, Section VII (l) of the Agreement is changed to read as follows:
"Nestaway will change the dishrack selling prices to Maytag from the prices
in effect on Sept. 8, 1997 as follows:
A. Reduces selling prices by as of the Effective date.
B. Nestaway will reduce its selling prices thru providing cost
reductions each year beginning in 1998. A minimum annual
reduction in selling price is guaranteed.
Page 4, Section IX of the Agreement is changed by deleting the existing language
in its entirety and replacing it with the following:
"For each year during the time of this Agreement, or any extension thereof,
Seller will pay Purchaser a volume rebate on the annual net shipment of
Racks to Maytag Xxxxxxx Dishwashing Products for its McKenzie, TN plant. A
rebate in the amount of per Rack will be paid on all Racks shipped
above an annual volume based on per day
for days, or racks. Payment of the earned discount will
be made prior to March first of the following year."
Signed this 11th day of September, 1997.
NESTAWAY DIVISION AXIA INCORPORATED
By /s/ Xxxxx X. Xxxxxxx 9/17/97
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Xxxxx X. Xxxxxxx
President & General Manager
MAYTAG CORPORATION
By /s/ X.X. Xxxxxx
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X.X. Xxxxxx
Vice President & General Manager
Xxxxxxx Dishwashing Products
