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Exhibit 10.1.7
AMENDMENT 1
TO THE
K-TRON
FORBEARANCE AGREEMENT
between
Swiss Bank Corp. Aarau (SBC) (Leading bank)
Credit Suisse (CS)
Swiss Volksbank (SVB)
Union Bank of Switzerland (UBS)
Banque Cantonale Neuchateloise (BCN) (Subsequently
referred to as Banks)
as well as
CS Immobilien Leasing AG (Subsequently
referred to as CSIL)
and
K-Tron (Switzerland) AG
K-Tron Asia Pacific Pte. Ltd. (Subsequently
referred to as K-Tron
Group)
and
K-Tron International Inc.
K-Tron Investment Co. (Subsequently
referred to as K-Tron
International)
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The parties to the Forbearance Agreement dated December 22, 1995, hereby declare
that they wish to amend Appendix 2 ("K-Tron Rehabilitation and Restructuring
Concept") of this Forbearance Agreement, as follows:
SECTION 1 PARAGRAPH 1 (BOARD OF DIRECTORS)
Instead of Xx. Xxx Xxxxxxxx, Mr. Iso Lenzlinger, an attorney-at-law and notary
in Zug, shall be a new member of the board of directors of K-Tron (Switzerland)
AG. Dr. Hans Xxxx Xxxxxxxxx and Xx. Xxxxx Gunthardt shall remain as members of
the board of directors.
(The other provisions shall remain applicable without changes.)
SECTION [2. RESTRUCTURING OF K-TRON (SWITZERLAND) AG]
The K-Tron Group shall be restructured as quickly as possible with the following
organizational, management, and technological measures:
a) Settlement of organizational structure
The shares of K-Tron Asia Pacific Pte. Ltd. Singapore shall be
transferred to K-Tron (Switzerland) AG, after their completed
rehabilitation (that is, when the share capital has once again been
fully paid up), at the nominal value of the share capital, and without
inclusion of goodwill, by no later than the end of February 1997.
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(The provisions of letters b, c, d, e shall remain unchanged.)
[signed:] Aarau 24-July-96 [signed]
------------------, ---------- -------------------------------------
(Swiss Bank Corp. Aarau; leading bank)
[signed:] Aarau 25-July-96 [signed]
------------------, ---------- -------------------------------------
(Credit Suisse)
[signed:] Bein 31-July-96 [signed]
------------------, ---------- -------------------------------------
(Swiss Volksbank)
[signed] Aarau 7-Aug-96 [signed]
------------------, ---------- -------------------------------------
(Union Bank of Switzerland)
[signed:] Neuchatel, 12-Aug-96 [signed]
------------------, ---------- -------------------------------------
(Banque Cantonale Neuchateloise)
[signed:] Zurich 14-Aug-96 [signed]
------------------, ---------- -------------------------------------
(CS Immobilien Leasing AG)
[signed:] Zurich 5-Sept-96 [signed]
------------------, ---------- -------------------------------------
(K-Tron (Switzerland) AG)
[signed:] Zurich 5-Sept-96 [signed]
------------------, ---------- -------------------------------------
(K-Tron Asia Pacific Pte Ltd.)
[signed:] Zurich 5-Sept-96 [signed]
------------------, ---------- -------------------------------------
(K-Tron International, Inc.)
[signed:] Zurich 5-Sept-96 [signed]
------------------, ---------- -------------------------------------
(K-Tron Investment Co.)
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