Confidential portions of this document indicted by "*****" have been omitted
and filed separately with the Commission
EASCO ALUMINUM
DOLTON WORKS
00000 XXXXXXX XXXXX XXXXXX
XXXXXX, XXXXXXXX 00000
FIXED-PRICE PURCHASE AND SALE AGREEMENT
This Agreement ("Agreement") dated May 1, 1998 is between EASCO ALUMINUM, DOLTON
WORKS. ("SELLER") FEATHERLITE MANUFACTURING ("BUYER"):
SELLER desires to sell certain goods to BUYER and BUYER desires to purchase
certain goods from SELLER.
NOW THEREFORE, in consideration of these premises and the following mutual
agreements, the parties agree as follows:
1. SELLER will sell to BUYER, and BUYER will purchase from SELLER, the
aluminum extrusions identified on Schedule A attached hereto ("Product"),
subject to the terms contained in this Agreement and the attached Schedule A.
The quantity, delivery dates, terms, and prices, for Product are also set forth
on Schedule A.
2. This Agreement shall have a term from the date hereof to December 31,
1999. This Agreement may not be canceled by either party prior to the
termination date without the prior written consent of the other. BUYER
acknowledges that SELLER intends to rely on this Agreement in fixing the prices
and delivery dates of its raw material purchases necessary to fulfill this
Agreement and as such, BUYER agrees to pay for the quantity specified on
Schedule A whether or not BUYER places specific orders with SELLER as specified
in Item 3 below. If BUYER cancels this agreement, or otherwise refuses shipments
hereunder, seller is entitled to recover any loss sustained from liquidating a
metal position taken by the seller on behalf of BUYER.
3. BUYER agrees to place specific firm orders with SELLER for the Product
at least twenty-eight (28) days prior to the requested shipment date which shall
specify the number of pounds/feet/pieces of specific aluminum extrusion shapes.
SELLER will attempt to respond to BUYER's order requests with less than
twenty-eight (28) days lead time, but shall be under no obligation to do so.
SELLER is required to manufacture and ship only product for which SELLER has
timely received firm orders.
4. SELLER's obligations hereunder are subject to SELLER's credit approval
with respect to each shipment and to the availability of financial information
on BUYER, which, in the SELLER'S opinion, is adequate to demonstrate the BUYER's
financial condition, ability to pay for shipments in accordance with agreed
terms of payment, and ability to support the volume of credit extended by the
SELLER.
Payment terms for the Product shall be as set forth in Schedule A. SELLER's
obligation to continue shipments of Product is conditioned upon BUYER satisfying
its payment obligations under this Item 4 in full within the time period
specified.
5. Either party's failure, at any time or times hereafter, to require
strict performance by the other party of any provision of this Agreement shall
not constitute a waiver, or affect or diminish the right thereafter to demand
strict compliance and performance of this Agreement.
6. This Agreement (including Schedule A) shall constitute the entire
agreement between the parties with respect to the subject matter hereof and
shall not apply to any purchases by BUYER in excess of the quantities set forth
in Schedule A. The terms of any such excess purchases will be governed by
separate agreement of the parties. Except as specified in this Agreement, the
term of sale and rights of the parties with respect to any specific order shall
be as set forth in SELLER's order acknowledgement as provided from time to time.
By: Xxxx Xxxxx By: Xxx Xxxxx
Title: Vice President Corporate Production Title: VP Sales and Marketing
Signature: Signature:
FEATHERLITE MANUFACTURING EASCO ALUMINUM, DOLTON WORKS
(BUYER) (SELLER)
Dated: 5/1/98 Dated: 5/1/98
EXHIBIT A
EASCO CORPORATION
Dolton Works
00000 Xxxxxxx Xxxxx Xxx
Xxxxxx, Xxxxxxxx 00000
Phone: 000-000-0000
Fax: 000-000-0000
SCHEDULE A
FIXED-PRICE PURCHASE AND SALE AGREEMENT
MATERIAL DESCRIPTION:
This agreement covers standard extrusions currently being supplied to
Featherlite Manufacturing ("Buyer") by Easco Corporation - Dolton Works,
("Seller") with specific pounds/pieces/feet by specific shape to be supplied by
the Buyer.
DELIVERY
PERIOD: January 1, 1999 through December 31, 1999.
QUANTITY: ***** pounds per calendar month for a total of
***** pounds.
PRICE: $***** per pound of aluminum extrusion plus an additional
$***** per pound for hollows.
The pricing in this proposal is subject to Easco's ability to hedge the
transaction. Easco will provide confirmation of the hedge immediately upon
execution.
Packaging: Standard - Bare Bundle.
Tolerance: Aluminum Association standards to apply.
FOB: Cresco, IA
PAYMENT TERMS: Payment in full within thirty (30) days from date of invoice.
TOTAL DOLLAR VALUE OF CONTRACT: Approximately: $*****
FEATHERLITE MANUFACTURING (BUYER) EASCO CORPORATION (SELLER)
BY: Xxxx Xxxxx BY: Xxx Xxxxx
TITLE: Vice President Corporate Production TITLE: Vice President Sales
& Marketing
SIGNATURE: SIGNATURE:
DATED: 5/1/98 DATED: 5/1/98
