Exhibit 2(e)
ASSET PURCHASE AGREEMENT
AMENDMENT NO. 4
THIS AMENDMENT NO. 4 (this "Amendment") to the ASSET PURCHASE
AGREEMENT, dated as of January 18, 2002 (the "Asset Purchase Agreement"), by and
among Spinnaker Industries, Inc., Spinnaker Coating, Inc. Spinnaker
Coating-Maine, Inc. (collectively, the "Sellers") and SP Acquisition, LLC (the
"Buyer") is made as of March 8, 2002, by and among the Sellers and the Buyer.
All capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Asset Purchase Agreement.
WHEREAS, Sellers and Buyer wish to modify the Asset Purchase
Agreement as set forth below;
NOW, THEREFORE, the Asset Purchase Agreement is hereby amended
as follows:
1. Section 2(b)(xii). Section 2(b)(xii) is hereby deleted and
amended and to read in its entirety as follows:
(xii) Preference and avoidance actions or claims under
Sections 542, 544, 545, 547, 548, 549 or 550 of the Bankruptcy Code.
2. Ratification of the Asset Purchase Agreement. Except as
otherwise expressly provided herein, all of the terms and conditions of the
Asset Purchase Agreement are ratified and shall remain unchanged and continue in
full force and effect.
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IN WITNESS WHEREOF, this Amendment has been executed as of the
date first above written.
SELLERS:
SPINNAKER INDUSTRIES, INC.
By: /s/ XXXXX X. XXXXXXXX, XX.
----------------------------
Name: XXXXX X. XXXXXXXX, XX.
Title:
SPINNAKER COATING, INC.
By: /s/ XXXXX X. XXXXXXXX, XX.
----------------------------
Name: XXXXX X. XXXXXXXX, XX.
Title:
SPINNAKER COATING-MAINE, INC.
By: /s/ XXXXX X. XXXXXXXX, XX.
----------------------------
Name: XXXXX X. XXXXXXXX, XX.
Title:
BUYER:
SP ACQUISITION, LLC
By: /s/
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Name:
Title:
