Exhibit 10.23
THE GOODYEAR TIRE & RUBBER COMPANY
(GOODYEAR)
AND
TBC CORPORATION
(TBC)
10-YEAR COMMITMENT
This Commitment, made the 4th day of November, 2003, by and between
THE GOODYEAR TIRE & RUBBER COMPANY, an Ohio corporation (hereinafter called
"Goodyear") and TBC CORPORATION, a Delaware corporation, of Memphis, Tennessee
(hereinafter called "TBC"), WITNESSETH:
Goodyear has been supplying tires to TBC and TBC has been purchasing
tires from Goodyear's former subsidiary The Kelly-Springfield Tire Company
("Xxxxx") and/or from Goodyear since 1963. Xxxxx and TBC entered into a 10-year
commitment as of March 21, 1994.
Goodyear and TBC now desire to strengthen their business relationship
by pledging continued support to each other for another 10 years as they look
ahead to new growth and strong leadership in the replacement tire industry.
As a long-term reliable supplier, Goodyear pledges the following
levels of support to TBC over the next 10 years: The assignment of a tire
engineer to work closely with TBC's purchasing and engineering group to provide
TBC with the latest and most innovative technology; continued high levels of
product availability through the joint pursuit of advanced methods to determine
the most accurate and efficient production levels required to meet current and
future demand; and exchange of such marketing information which will allow both
companies to achieve the highest levels of service to each other in all areas of
their individual operations.
As a long-term reliable customer, TBC pledges over the next 10 years
continued loyalty in its purchases of products manufactured by Goodyear as TBC
and Goodyear strive to provide state-of-the-art tire products to their
customers, current and new, both in the United States and abroad, over the next
10 years and beyond.
While this commitment is subject to the changing needs of both
entities and to the changing needs of the replacement tire market, and to the
terms and provisions of the parties' October 1, 1977 Supply Agreement, Goodyear
and TBC agree to a long-term pledge of cooperation and teamwork as they strive
to build and grow their own companies as well as the replacement tire industry.
THE GOODYEAR TIRE & RUBBER COMPANY
By /s/ Xxxxxxxx X. Xxxx
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TBC CORPORATION
By /s/ Xxxxxxxx X. Day
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