EXHIBIT 10.28
"ADDENDUM A"
SIPEX CORPORATION
DISTRIBUTOR AGREEMENT
As per the provisions of the Distributor Agreement between SIPEX CORPORATION and
FUTURE ELECTRONICS dated July 1, 1993, the following modifications shall apply;
1. Please change Section 5 (f) to now read as follows:
F.O.B. Point of Entry, Americas, Europe, Asia.
2. Please change Section 6 to now read as follows:
Supplier will invoice Future upon shipment of each order. Such invoices
shall be due and payable in full by Future within thirty (30) calendar
days following date of invoice.
3. Please change Section 7 (a) to now read as follows:
Quarterly Rotation. Within forty-five (45) calendar days following each
period of three (3) consecutive months during the term, FUTURE may
return to SUPPLIER for credit, a quantity of Products the value of ten
percent (10%) of the net sales dollars invoiced by SUPPLIER to FUTURE
for all Products purchased by FUTURE during the previous three (3)
month period. Credit issued for such returned Products will be based
upon the price paid by FUTURE, less any prior credits granted by
SUPPLIER on the returned Product and applied against future purchases
of Products from SUPPLIER. FUTURE may make such returns from one or
more stocking locations(s). The foregoing return privilege shall be
subject to the following conditions;
(1) The Products are returned in merchantable condition;
(2) Prior to returning any Products, FUTURE obtains a Return
Material Authorization from SUPPLIER.
All other terms and conditions to the Distributor Agreement dated July 1, 1993
between Sipex Corporation and Future Electronics shall remain unchanged.
FUTURE ELECTRONICS SIPEX CORPORATION
BY: /s/ Xxx Xxxxxx BY: /s/ Walid Maghribi
---------------------------- --------------------------
Xxx Xxxxxx Walid Maghribi
Printed Name Printed Name
TITLE: Executive Vice President TITLE:President & CEO
DATE: February 7, 2003 DATE: 2/13/03
