AMENDMENT TO BUSINESS RELATIONS AGREEMENT
Exhibit
10.1
AMENDMENT
TO BUSINESS RELATIONS AGREEMENT
THIS AMENDMENT TO BUSINESS RELATIONS
AGREEMENT, dated as of September 23rd, 2008 by and between American Biltrite
Inc., a Delaware corporation (“ABI”) and Congoleum Corporation, a Delaware
corporation (“Congoleum”);
WITNESSETH:
THAT WHEREAS, ABI and Congoleum are
parties to a Business Relations Agreement, dated as of March 11, 1993 (the
“Business Relations Agreement”), as amended August 9, 1997, and as renewed
annually through March 11, 2008, and as amended March 11, 2008, pursuant to
which Congoleum granted to ABI the exclusive right and license (except as to
Congoleum itself) to distribute Congoleum’s vinyl, vinyl composition and other
floor tile in Canada, subject to certain terms and conditions set forth in the
Business Relations Agreement, as amended;
NOW, THEREFORE, in consideration of the
agreement set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
|
|
1.
|
Extension of
Term. The term of the Business Relations Agreement is
renewed until the earlier of (a) the effective date of a plan of
reorganization for Congoleum Corporation, et al., following a final order
of confirmation, or (b) June 30,
2009.
|
|
|
2.
|
Ratification. Each
of ABI and Congoleum hereby ratifies and confirms all of the terms and
provisions of the Business Relations Agreement, as amended
hereby.
|
|
|
3.
|
Counterparts. This
Amendment to Business Relations Agreement may be executed in one or more
counterparts, each of which shall be an original but all of which shall
collectively constitute a single
instrument.
|
IN WITNESS WHEREOF, the parties hereto
have executed and delivered this Amendment to Business Relations Agreement as of
the date first above written.
|
AMERICAN
BILTRITE INC.
|
|
|
By:
|
|
|
_/s/ Xxxxxxx X.
Xxxxxx
|
|
|
Name: Xxxxxxx
X. Xxxxxx
Title: President
|
|
|
CONGOLEUM
CORPORATION
|
|
|
By:
|
|
|
__/s/ Xxxxx. X.
Xxxxxx
|
|
|
Name: Xxxxx
X. Xxxxxx
Title: Chief
Executive Officer
|
