AMENDMENT TO BUSINESS RELATIONS AGREEMENT
Exhibit
10.2
AMENDMENT
TO BUSINESS RELATIONS AGREEMENT
THIS
AMENDMENT TO BUSINESS RELATIONS AGREEMENT, dated as of March 11,
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, 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:
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1.
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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) September 30,
2008.
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2.
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Ratification. Each
of ABI and Congoleum hereby ratifies and confirms all of the terms and
provisions of the Business Relations Agreement, as amended
hereby.
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3.
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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.
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IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment
to Business Relations Agreement as of the date first above
written.
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By:
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/s/
Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx
X. Xxxxxx
Title: President
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CONGOLEUM
CORPORATION
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By:
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/s/
Xxxxx X. Xxxxxx
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Name: Xxxxx
X. Xxxxxx
Title: Chief
Executive Officer
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