EXHIBIT 10.16
FIRST AMENDMENT TO THE
TAX ALLOCATION AND INDEMNITY AGREEMENT
Amendment, dated as of May 29, 1998, to revise and prospectively apply the
Affiliated Group, as defined in the Tax Allocation and Indemnity Agreement by
and among Stellex Industries, Inc., (formerly Stellex Holdings Corp.), a
Delaware corporation ("Parent"), TSMD Acquisition Corp., a Delaware corporation,
Stellex Microwave Systems, Inc. (formerly X-X TSMD Inc.), a California
corporation, (together "Stellex Microwave") KII Holding Corp., a Delaware
corporation, and KII Acquisition Corp., Stellex Aerospace (formerly Xxxxxxxx
Industries, Inc.), a California corporation, and its direct subsidiaries
(together "Stellex Aerospace") dated as of October 31, 1997.
It is the intent of the parties hereto that the Affiliated Group, as
defined, prospectively from the date hereof be amended to include the following:
Parent, Stellex Microwave, Stellex Aerospace, Stellex Aerospace
Holdings, Inc., a Delaware corporation, and Monitor Aerospace Corporation,
a New York corporation.
In WITNESS WHEREOF, the Parties hereto have caused this Amendment to be
executed by their duly authorized representatives as of the date first written
above.
Stellex Industries, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
TSMD Acquisition Corp.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Stellex Microwave Systems, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
KII Holding Corp.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
KII Acquisition Corp.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Stellex Aerospace
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Paragon Precision Products
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Xxxxx Machining International
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Scanning Electron Analysis Laboratories, Inc.
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
General Inspection Laboratories, Inc.
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Stellex Aerospace Holdings, Inc.
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
Monitor Aerospace Corp.
By: Xxxxxxx X. Xxxxxx
-----------------------------------------
Its:
-----------------------------------------
