EXHIBIT 10.12(b)
AMENDMENT TO THE SPANISH DISTRIBUTION AGREEMENT DATED NOVEMBER 10TH, 2003
BETWEEN CORONADO INDUSTRIES, INC. AND IZASA, S.A.
THIS is an AMENDMENT to the existing Spanish Distribution Agreement, dated
November 10th, 2003, by and between, Coronado Industries, Inc. having its
headquarters at 00000 X. Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx Xxxxx, Xxxxxxx
00000 (hereinafter referred to as "CI"), and Izasa, S.A. having offices at
Aragoneses 00 - 00000 Xxxxxxxxxx - Xxxxxx (Xxxxx) (hereinafter referred to as
"IZASA").
The Parties wish to modify sections 2.1(d), 2.2(i), 2.2(ii) and 8.1 of the
Spanish Distribution Agreement as follows
SECTION 2. PRICE, RETURNS, PURCHASE OBLIGATIONS, PRODUCT SUPPLY
2.1(d) The above supply prices will be fixed until December 2006.
Beginning in January 2007 CI can adjust the supply price based on
a reported U.S. manufacturing inflation index, with such
adjustment using 2003 as the base year.
2.2(i) IZASA will have the following annual minimum purchase
requirements ('Annual Minimum')
Calendar Year Annual Minimum
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September 2004 to December 2004 *
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January 2005 to December 2005 *
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January 2006 to December 2006 *
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January 2007 to December 2007 *
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January 2008 to December 2008 *
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* [CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE
COMMISSION]
2.2(ii) IZASA and CI will agree to a delivery schedule for the calendar
year 2004 minimum quantities by September 1, 2004. For the
remaining years of this agreement Izasa and CI will agree to a
delivery schedule for each year's `Annual Minimum' by September
15th of the prior year.
SECTION 8. TERM AND TERMINATON
8.1 The term of this Agreement shall be for a period of five (5) years
from September 1, 2004. Izasa may extend the term for an additional
two (2) years by agreeing to a minimum purchase of [CONFIDENTIAL
INFORMATION OMITTED AND FILED SEPARATELY WITH THE COMMISSION] in year
six (6) and seven (7). Following the initial 7 year term outlined
above, this Agreement will be automatically renewable on an annual
basis, unless either Party notifies the other 6 months prior to
expiration of the initial term, or each annual extension, of their
intention not to renew,
II) All other terms and conditions contained in the original Spanish
Distribution Agreement remain the same
Page 1 Amendment to Izasa Spanish Distribution Agreement - July 23, 2004
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first written above.
CORONADO INDUSTRIES, INC. IZASA S.A.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxx Xxxxx
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Name: Xxxx X. Xxxxx Name: Xxxxxx Xxxxx
Title: President Title: Managing Director S.E.
Date: __________________________ Date: __________________________
Page 2 Amendment to Izasa Spanish Distribution Agreement - July 23, 2004
