As of July 16, 2010 Mr. Louis V. Aronson President and Chief Executive Officer Ronson Corporation Corporate Park III, Campus Drive Somerset, NJ 08875 Dear Mr. Aronson:
Exhibit
10.2
As of
July 16, 2010
Xx. Xxxxx
X. Xxxxxxx
President
and Chief Executive Officer
Ronson
Corporation
Corporate
Park III, Campus Drive
Somerset,
NJ 08875
Dear Xx.
Xxxxxxx:
Reference
is made to the Agreement dated March 30, 2009, as previously amended (the
“Agreement”) between Xxxxxxx Xxxxxxx & Associates LLC (“Xxxxxxx Xxxxxxx”)
and Ronson Corporation (together with its subsidiaries, the
“Company”).
By
signing below, please confirm that:
(i) The
date "July 31, 2010" in the two places where it appears in the Agreement is
amended to be "August 31, 2010"; provided, that this extension shall become
effective only if the Company is not a debtor in a bankruptcy proceeding as of
July 31, 2010; and
(ii) On
and as of July 3, 2010, the Company owes $1,909,981.52, consisting of
$1,709,981.52 in fees and expenses and $200,000 in Signing Bonus, to Xxxxxxx
Xxxxxxx under the Agreement, and such amount is owing and payable in full,
without offset, deduction or counterclaim of any kind or character
whatsoever.
Should
another extension to the term of the Agreement be required, Xxxxxxx Xxxxxxx will
furnish the Company a proposed extension letter on or before August 19,
2010.
[balance
of page left blank]
The
Agreement is, in all other respects, ratified and confirmed.
Very
truly yours,
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XXXXXXX
XXXXXXX & ASSOCIATES LLC
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By:
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/s/ Xxxx Xxxxxxx
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Xxxx
Xxxxxxx
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Vice
Chairman
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Agreed
to and accepted:
RONSON
CORPORATION
By: /s/Xxxxx X. Xxxxxxx
XX
Name: Xxxxx X. Xxxxxxx XX
Title: President and Chief Executive Officer
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RONSON
CONSUMER PRODUCTS CORPORATION
By: /s/Xxxxx X. Xxxxxxx
XX
Name: Xxxxx X. Xxxxxxx XX
Title: President and Chief Executive Officer
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RONSON
AVIATION, INC.
By: /s/Xxxxx X. Xxxxxxx
XX
Name: Xxxxx X. Xxxxxxx XX
Title: President and Chief Executive Officer
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RONSON CORPORATION OF CANADA
LTD.
By:
/s/Xxxxx X. Xxxxxxx
XX
Name:
Xxxxx X. Xxxxxxx XX
Title:
President and Chief Executive
Officer
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Consented
to:
XXXXX
FARGO BANK, NATIONAL ASSOCIATION
By
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/s/ Xxxxx Xxxxxx
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Name:
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Xxxxx Xxxxxx
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Title:
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Vice President
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