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EXHIBIT 10.20
AGREEMENT
AGREEMENT, dated as of May 3, 1996, by and among SYRATECH
CORPORATION, a Delaware corporation ("Parent"), FARBERWARE INC. (formerly known
as Far-B Acquisition Corp.), a Delaware corporation and an indirect wholly owned
subsidiary of the Parent ("Seller"), and MEYER MARKETING CO. LTD. a British
Virgin Islands corporation ("Purchaser").
WHEREAS, Bruckner Manufacturing Corp. (formerly known as Farberware
Inc.), a Delaware corporation (the "Company"), was and is a manufacturer,
importer, sourcer and distributor of cookware and bakeware products and certain
electric products and was the owner and licensor of certain intellectual
property rights (collectively, the "Farberware Business");
WHEREAS, pursuant to an Asset Purchase Agreement, dated February 2,
1996, the Parent and the Seller have acquired certain of the assets of, and have
assumed certain of the liabilities relating to, the Farberware Business (the
"Farberware Acquisition");
WHEREAS, pursuant to a Manufacturing Services Agreement, dated April
2, 1996, between the Company and the Seller (the "MSA"), the Company is
continuing to manufacture certain products ("Farberware Products") for the
Seller at the Company's manufacturing facility on Bruckner Boulevard in the
Borough and County of the Bronx, City and State of New York (the "Bronx Plant");
and
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WHEREAS, Parent and Seller wish to grant and transfer, and the
Purchaser wishes to receive and acquire, certain of the rights and assets
acquired by Parent and Seller pursuant to the Farberware Acquisition, all upon
the terms and subject to the conditions set forth herein; and
WHEREAS, the Purchaser wishes to obtain certain intellectual
property rights with respect to Cookware and Bakeware Products (as defined
herein), upon the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained and of other good and valuable consideration, each
to the other in hand paid, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:
ARTICLE I
Definitions, Interpretation and Construction
The capitalized terms used in this Agreement are defined, and the
rules governing the interpretation and construction of this Agreement are set
forth, in Exhibit A annexed hereto; and the text and provisions of said Exhibit
A are incorporated herein by reference as though set forth at length in this
Article I.
ARTICLE II
Grant of Trademark and Other
Intellectual Property Rights
2.1 Grant of Rights. Upon payment at the Closing provided for in
Section 2.3 of that portion of the consider-
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ation specified in Section 2.2.2, Seller, as licensor, shall grant to Purchaser:
2.1.1 The exclusive right and license to use and exploit
throughout the World (except as hereinafter provided) the Cookware and Bakeware
Products Rights for a term beginning on the Closing Date (as defined in Section
2.3) and ending on April 30, 2196. The grant of such exclusive right and license
shall include or be accompanied by an assignment to Purchaser of the rights of
the Seller (as exclusive licensor) in and to the Meyer Marketing License
(including the right to receive royalties thereunder that accrue after the
Closing or to cancel said license).
2.1.2 The exclusive right and license to use and exploit the
specific Intellectual Property Rights listed on Exhibit B annexed hereto for a
term beginning on the Closing Date and ending as to each such Intellectual
Property Right on the earlier of (i) April 30, 2196 or (ii) the date on which
such Intellectual Property Right expires by mutual agreement of Purchaser and
Seller or by reason of exhaustion of an unextendable term.
2.1.3 The non-exclusive right to use and exploit so much of
the other Intellectual Property Rights acquired by the Seller pursuant to the
Asset Purchase Agreement as (i) have heretofore been used or exploited by the
Company in connection with the sourcing, manufacture and distribution of
Cookware and Bakeware Products, and (ii) may be used and exploited without
violating the rights of third
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parties, including, without limitation, the rights of parties to the Existing
Farberware Licenses and the Lifetime License, the grant in each instance to be
for a term beginning on the Closing Date and ending as to each such Intellectual
Property Right on the earlier of (a) April 30, 2196 or (b) the date on which
such Intellectual Property Right expires by mutual agreement of Purchaser and
Seller or by reason of exhaustion of an unextendable term.
The rights to be conferred upon Purchaser pursuant to this Section 2, including
subsections 2.1.1, 2.1.2 and 2.1.3, shall be evidenced by a license agreement in
the form annexed hereto as Exhibit C (the "License Agreement").
2.2 Consideration. As consideration for the grant of the trademark
and other Intellectual Property rights to Purchaser pursuant to Section 2.1,
Purchaser shall pay to Seller the sum of Twenty-Five Million Five Hundred
Thousand United States Dollars (U.S.$25,500,000) of which:
2.2.1 Ten Million United States Dollars (U.S.$10,000,000)
shall be paid upon execution of this Agreement as a deposit that shall be
non-refundable unless this Agreement is terminated pursuant to any of Section
9.1.1, Section 9.1.2, Section 9.1.4 or Section 9.1.5; and
2.2.2 Fifteen Million Five Hundred Thousand United States
Dollars (U.S.$15,500,000) shall be paid at the Closing.
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The payments to be made pursuant to subsections 2.2.1 and 2.2.2 shall be made by
wire transfers of immediately available funds to an account designated by
Seller.
2.3 Closing. The transactions provided for in Sections 2.1 and 2.2.2
shall be consummated at a closing (the "Closing") to be held at the offices of
Paul, Weiss, Rifkind, Wharton & Garrison, 1285 Avenue of the Americas, New York,
New York 10019-6064, at 9:30 A.M. New York time, on the third business day
following the later to occur of (i) public announcement that the Company will on
a day certain discontinue the manufacture of Farberware Products at the Bronx
Plant, or (ii) the satisfaction or waiver of all conditions hereunder, or at
such other place, at such other time and/or on such other date, as the parties
shall agree but in no event later than the fifth business day following the
later to occur of the events specified in clauses (i) and (ii) above (the actual
date of Closing being herein called the "Closing Date").
ARTICLE III
Seller's Right to Sell Inventory
Seller and Parent shall have the right at any time and from time to
time to sell any and all Inventory owned by Seller or Parent on the Closing Date
or that Seller is there after required to purchase under the MSA (including
Inventory required to be purchased pursuant to Seller's exercise prior to the
date of this Agreement of Seller's option under
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Section 2.A. of the MSA to extend the initial Production Period thereunder), and
all returns thereof. Notwithstanding the grants of trademark and other
intellectual property rights to be made to Purchaser pursuant to Section 2.1,
(i) Parent and Seller shall each have the right and license (so long as either
of them owns any Inventory acquired from the Company or returned by customers)
to use and exploit (and to authorize their customers to use and exploit in
connection with resale of the Inventory) all Intellectual Property that has at
any time been used or exploited by the Company or others in the marketing of
Inventory and (ii) the Company has a continuing royalty free license to use the
name Farberware in connection with (and only in connection with) the sale in
Australia of only finished goods Inventory located in Australia on the Purchase
Date.
ARTICLE IV
Representations and Warranties of Parent and Seller
Parent and Seller jointly and severally represent and warrant to
Purchaser as follows:
4.1 Each of the Parent and Seller is a corporation duly organized,
validly existing and in good standing under the laws of the jurisdiction of its
incorporation with all requisite corporate power and authority to own, lease and
operate its assets and properties and to carry on its business as presently
conducted by it.
4.2 Each of the Parent and Seller has full corporate power and
authority to enter into this Agreement and the
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License Agreement and to consummate the transactions contemplated hereby and
thereby. The execution, delivery and performance by each of the Parent and
Seller of this Agreement and the License Agreement have been duly and validly
approved by the board of directors of each of the Parent and Seller and no other
actions or proceedings on the part of the Parent or Seller are necessary to
authorize this Agreement and the Licence Agreement and the transactions
contemplated hereby and thereby. Each of the Parent and Seller has duly and
validly executed and delivered this Agreement. This Agreement constitutes, and,
when executed, the License Agreement will constitute, legal, valid and binding
obligations of the Parent and Seller, except as such enforceability may be
limited by applicable bankruptcy, insolvency, moratorium, reorganization or
similar laws in effect which affect the enforcement of creditors' rights
generally and by equitable limitations on the availability of specific remedies.
4.3 Except as set forth in Section 7.3.5 and the applicable
requirements of the HSR Act, no consent, authorization or approval of, filing
or registration with, or cooperation from, any Governmental Authority or any
other Person not a party to this Agreement and the License Agreement is
necessary in connection with the execution, delivery and performance by the
Parent or Seller of this Agreement and the License Agreement or the consummation
of the transactions contemplated hereby and thereby.
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4.4 The execution, delivery and performance of this Agreement and
the License Agreement by the Parent and Seller do not and will not (i) violate
any Law; (ii) violate or conflict with, result in a breach or termination of,
constitute a default or give any third party any additional right (including a
termination right) under, permit cancellation of, result in the creation of any
Lien upon any of the assets or properties of the Parent or Seller under, or
result in or constitute a circumstance which, with or without notice or lapse of
time or both, would constitute any of the foregoing under, any contract to which
Parent or Seller is a party or by which the Parent or Seller or any of their
respective assets or properties are bound; (iii) permit the acceleration of the
maturity of any indebtedness secured by their respective assets or properties;
or (iv) violate or conflict with any provision of any of the Certificate of
Incorporation, charter, by-laws or similar organizational instruments of the
Parent or Seller, respectively, and, in the case of the matters covered by
subclauses (ii) and (iii) above, which could materially and adversely affect the
ability of the Parent or Seller to consummate the transactions contemplated by
this Agreement and the License Agreement.
4.5 Pursuant to Section 4.13 of the Asset Purchase Agreement, the
Company (IDENTIFIED IN THE PARAGRAPHS QUOTED DIRECTLY BELOW AS "SELLER") made
the following representations and warranties:
"(a) Schedule 4.13 sets forth a list of all material
inventions which are the subject of issued
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letters patent or an application therefor and all material trademarks and
service marks and material copyrights whether or not issued or registered
or for which an application for issuance or registration is pending, in
each case which are owned by Seller or used in the Business under license
from others, specifying as to each, as applicable: (i) the nature of such
Intellectual Property; (ii) the owner of such Intellectual Property;
(iii) the jurisdictions by or in which such Intellectual Property has, to
the best of Seller's knowledge, been issued or registered or in which an
application for such issuance or registration has been filed, including
the respective patent registration or application numbers, if available;
and (iv) licenses, sublicenses and other agreements to which the Seller is
a party and pursuant to which any person is authorized to use such
Intellectual Property, and (v) contracts, agreements or understandings
related to the Intellectual Property. Except as set forth in Schedule
4.13, the Seller has the exclusive right (subject to existing license
agreements listed on schedules to this Agreement) to use the name
"Farberware," and to the best of Seller's knowledge the other names listed
on Schedule 4.13, in the manner, in the jurisdictions and for the purposes
now being used by Seller and its licensees without infringing the rights
of third parties.
"(b) Except as set forth on Schedule 4.13, the Seller (i) is
not a party to any claim, suit, action or proceeding which involves a
claim of infringement of any Intellectual Property, (ii) Seller does not
have any knowledge of any infringement by any other person of any
Intellectual Property, and (iii) there have been no claims made or
proceedings instituted of which Seller is aware claiming that, and Seller
has not received any notice that, any of the Intellectual Property is
invalid, infringes or conflicts with the asserted rights of others. Except
as disclosed on Schedule 4.13, no Intellectual Property is subject to any
outstanding order, judgment, decree, stipulation or agreement restricting
the use thereof by the Seller or restricting the licensing thereof by the
Seller to any person. Buyer, Syratech and Lifetime acknowledge that from
time to time the products of the Seller are sold and services of the
Seller are rendered to customers whose purchase orders sometimes contain
agreements under which the Seller may be required to defend, indemnify and
hold the customer harmless against any charge of patent, trademark or
copyright infringement and that the Uniform Commercial Code imposes a
similar obligation where the products were and are made to the
specifications of the customer. With the exception of the foregoing, and
except as may be provided in items disclosed on Schedule 4.13, the Seller
has not entered into any special agreement to indemnify
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any other person against any charge of infringement of any patent,
trademark, service mark or copyright of the Business."
4.6 A true and correct copy of Schedule 4.13 to the Asset Purchase
Agreement (as such schedule was corrected on April 2, 1996) is annexed to this
Agreement as Exhibit D.
4.7 Seller has not discovered (i) any material misstatement in the
representations and warranties made by the Company as quoted above, (ii) any
material misstatement in Schedule 4.13 to the Asset Purchase Agreement (as such
schedule was corrected on April 2, 1996); and Seller has no reason to believe
that any of such representations and warranties was materially false or
misleading when made.
4.8 Except as set forth in Sections 4.5, 4.6, and 4.7, Parent and
Seller have not made any representations or warranties of any kind, express or
implied, with respect to Intellectual Property or Intellectual Property Rights.
ARTICLE V
Representations and Warranties of Purchaser
The Purchaser hereby represents and warrants to the Parent and
Seller that:
5.1 Purchaser is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction of its incorporation with
all requisite corporate power and authority to own, lease and operate its
businesses and properties and to carry on its business as presently conducted by
it.
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5.2 Purchaser has full corporate power and authority to enter into
this Agreement and the License Agreement and to consummate the transactions
contemplated hereby and thereby. The execution, delivery and performance by
Purchaser of this Agreement and the License Agreement have been duly and validly
approved by the board of directors of Purchaser and no other actions or
proceedings on the part of the Purchaser are necessary to authorize this
Agreement and the License Agreement and the transactions contemplated hereby and
thereby. The Purchaser has duly and validly executed and delivered this
Agreement. This Agreement constitutes, and, when executed and delivered, the
License Agreement will constitute, legal, valid and binding obligations of the
Purchaser, enforceable in accordance with their respective terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, moratorium,
reorganization or similar laws in effect which affect the enforcement of
creditors' rights generally and by equitable limitations on the availability of
specific remedies.
5.3 Except for the applicable requirements of the HSR Act, no
consent, authorization or approval of, filing or registration with, or
cooperation from, any Governmental Authority or any other Person not a party to
this Agreement is necessary in connection with the execution, delivery and
performance by the Purchaser of this Agreement and the License Agreement and the
consummation of the transactions contemplated hereby and thereby.
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5.4 The execution, delivery and performance by the Purchaser of this
Agreement and the License Agreement do not and will not (i) violate any Law;
(ii) violate or conflict with, result in a breach or termination of, constitute
a default or give any third party additional rights (including a termination
right) under, permit cancellation of, result in the creation of any Lien upon
any of the assets or properties of the Purchaser under, or result in or
constitute any of the foregoing under, any contract to which the Purchaser is a
party or by which the Purchaser or any of its assets or properties are bound;
(iii) permit the acceleration of the maturity of any indebtedness of the
Purchaser or indebtedness secured by assets or properties; or (iv) violate or
conflict with any provisions of the organization instruments of the Purchaser
and, in the case of the matters covered by subclauses (ii) and (iii) above which
could materially and adversely affect the ability of the Purchaser to consummate
the transactions contemplated by this Agreement and the License Agreement.
ARTICLE VI
Covenants
6.1 Reasonable Commercial Efforts. Upon the terms and subject to the
conditions hereof, each of the Purchaser, the Parent and the Seller agrees to
use all reasonable commercial efforts to take, or cause to be taken, all
action, and to do, or cause to be done, all things necessary, proper or
advisable to consummate and make effective as promptly as
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practicable the transactions contemplated by this Agreement and the License
Agreement, including using all reasonable commercial efforts to fulfill or cause
the fulfillment of the conditions to Closing. In case at any time after the
Closing Date any further action is necessary or desirable to carry out the
purposes of this Agreement and the License Agreement, the proper officers and
directors of each party to this Agreement and the License Agreement shall take
all such necessary action.
6.2 Public Announcements. So long as this Agreement is in effect,
the Purchaser, on the one hand, and the Parent and the Seller, on the other
hand, shall not, and shall cause their affiliates not to, issue or cause the
publication of any press release or any other announcement with respect to this
Agreement or the License Agreement or the transactions contemplated hereby or
thereby without the consent of the other party, except where such release or
announcement, in the reasonable opinion of counsel to the disclosing party, is
required by applicable law or pursuant to any listing agreement with, or the
rules or regulations of, any national securities exchange on which securities of
the Purchaser or the Parent are listed or traded; provided, however, that in no
event shall any public announcement of this Agreement or the License Agreement,
or of the transactions contemplated hereby or thereby, be made without prior
notice and disclosure to, and discussion with, the Purchaser.
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6.3 HSR Filings. As promptly as practicable after the execution of
this Agreement, each party shall, in cooperation with the others, but at its
own expense, file any reports or notifications and pay any fees that may be
required to be paid by it under applicable law including filings under the HSR
Act and shall furnish to the other all such information in its possession as may
be necessary for the completion of the reports or notifications to be filed by
the others. Each party shall promptly make any further filings pursuant thereto
that may be necessary, proper or advisable.
6.4 Certain Post-Closing Covenants by the Purchaser. The Purchaser
agrees that, to the extent and so long as the Purchaser or one or more of its
Affiliates (as defined in Rule 405 of the Securities Act of 1933) actively
markets Cookware and Bakeware Products, the Purchaser shall sell to LHC, upon
mutually agreed payment terms, solely for resale by it in Farberware Outlet
Stores (i.e., outlet stores that sell only merchandise that is manufactured by
or for Farberware (or its successors) or under Farberware Licenses (with the
exception of limited sales of non-Farberware or Farberware-licensed products)
such of the Cookware and Bakeware Products as are being so marketed by the
Purchaser in such quantities (subject to availability) as LHC shall request
solely for resale within Farberware Outlet Stores (and for no other purpose).
The Purchaser agrees that the prices to be paid by LHC for such products shall
be at least as low as the lowest prices being charged by the selling entity to
any
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customer for the same products, regardless of volume, net of any rebates,
discounts, allowances and commissions, if applicable, then being given to such
customer in respect of such products pursuant to any purchase order placed by
such customer within 60 days prior to the date on which LHC's order for the same
products is placed. Except as otherwise herein specifically provided with
respect to the quantities and pricing of Cookware and Bakeware Products to be
sold by Purchaser to LHC, nothing in this Section 6.4 shall affect the
Purchaser's right to establish (by agreement with LHC or otherwise) the terms
(including timing and method of payment, delivery and shipping responsibilities,
return policies, if any, advertising allowances, if any, etc.) upon which such
products will be sold by Purchaser to LHC.
6.5 Seller agrees that from and after the Closing Date, Seller will
not use or permit others to use the tools and dies that were acquired from the
Company and are now owned by Seller to manufacture Cookware and Bakeware
Products that are identical in all respects with those Cookware and Bakeware
Products that are currently being offered for sale by Seller or that were
offered for sale by Seller's predecessors; provided, however, that the agreement
set forth in the forepart of this Section 6.5 shall be inoperative so long as
products are being manufactured under the MSA pursuant to the exercise prior to
the date of this Agreement of Seller's rights under Section 2.A. of the MSA.
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6.6 Prior to the Closing, Seller and Purchaser shall endeavor in
good faith to reach agreement for the sale by Seller to Purchaser of those tools
and dies that are owned by Seller and used for the making of plastic handles and
knobs for pots and pot lids, respectively, at a price to be mutually agreed upon
by Seller and Purchaser but not to exceed the greater of (i) Seller's cost
therefor and (ii) the appraised value thereof.
6.7 Pursuant to the Asset Purchase Agreement, Seller assumed certain
obligations and liabilities with respect to warranties for replacement or repair
of products manufactured or sold by the Company under warranties that were set
forth on printed warranty forms issued by the Company. In addition, Seller has
since April 2, 1996 issued certain warranties for the replacement or repair of
products manufactured or sold by Seller in the course of its business since
April 2, 1996. At the Closing, Seller and Purchaser shall enter into an
agreement (which prior thereto shall be negotiated by the parties in good faith)
pursuant to which claims with respect to warranties for replacement or repair of
Cookware and Bakeware Products manufactured or sold by the Company or by the
Seller shall be referred to Purchaser, and Purchaser shall (i) receive and
process such claims and make all necessary repairs or issue such replacement
products as may be required and (ii) for so doing, be reimbursed by Seller for
Purchaser's actual direct costs, less all amounts tendered by
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customers in partial payment for any such repairs or replacements.
ARTICLE VII
Conditions
7.1 Conditions to Each Party's Obligations. The respective
obligations of each party hereto to effect the transactions specified in Article
II shall be subject to there having been no order, statute, rule, regulation,
executive order, stay, decree, judgment or injunction enacted, entered,
promulgated or enforced by any court or governmental authority which prohibits
or prevents the consummation of the transactions.
7.2 Conditions to Obligation of the Purchaser. The obligation of the
Purchaser to make the deliveries required to be made by it pursuant to Article
VIII and to make the payment provided for in Section 2.2.2 shall be subject to
the fulfillment at or prior to the Closing Date of the following additional
conditions, any one or more of which may be waived by the Purchaser:
7.2.1 the Seller shall have performed in all material
respects its obligations under this Agreement required to be performed on or
prior to the Closing Date pursuant to the terms hereof.
7.2.2 the Purchaser shall have been furnished with a
certificate, dated the Closing Date, executed by an officer of the Parent and
the Seller certifying to the fulfillment of the conditions specified in Section
7.2.1;
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7.2.3 the Purchaser shall have been furnished with a
favorable opinion of the General Counsel to the Parent and the Seller, subject
to customary qualifications and limitations, as to the due execution and
delivery of this Agreement and the documents delivered by the Parent and the
Seller at the Closing (including, without limitation, the License Agreement);
7.2.4 the waiting period under the HSR Act shall have
expired or been terminated; and
7.2.5 the Seller shall have duly executed and have
available for delivery to the Purchaser the License Agreement and other writings
referred to in Section 2.1 and Article VIII.
7.3 Conditions to Obligation of the Seller. The obligation of the
Seller to deliver the License Agreement and other writings referred to in
Section 2.1 and Article VIII shall be subject to the fulfillment at or prior to
the Closing Date of the following additional conditions, any one or more of
which may be waived by the Seller:
7.3.1 the Purchaser shall have performed in all material
respects its obligations under this Agreement required to be performed on or
prior to the Closing Date pursuant to the terms hereof;
7.3.2 the Seller shall have been furnished with a
certificate, dated the Closing Date, executed by an officer of the Purchaser,
certifying to the fulfillment of the conditions specified in Section 7.3.1;
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7.3.3 the Seller and the Parent shall have been furnished
with a favorable opinion of counsel to the Purchaser, subject to customary
qualifications and limitations, as to the due execution and delivery of this
Agreement and the documents delivered by the Purchaser at the Closing;
7.3.4 the waiting period under the HSR Act shall have
expired or been terminated;
7.3.5 LHC shall have given its consent to the
transactions contemplated hereby; and
7.3.6 Purchaser shall have duly executed and shall have
available for delivery to the Seller the License Agreement and other documents
required by Article VIII to be delivered by Purchaser and shall have
demonstrated to Seller's satisfaction that it is able and willing to make the
payment required by Section 2.2.2.
ARTICLE VIII
Deliveries at Closing
At the Closing, Seller shall deliver to Purchaser counterparts, duly
executed by Seller, of (i) an absolute and irrevocable assignment (in the form
annexed hereto as Exhibit F), of the rights of Seller (as exclusive licensor) in
and to the Meyer Marketing License, (ii) the License Agreement provided for in
Section 2.1 (in the form annexed hereto as Exhibit C) and (iii) such other
documents, instruments and papers, if any, as shall be necessary effectively to
confer upon Purchaser the rights intended to be conferred upon Purchaser
pursuant to Section 2.1 of this Agreement; and
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Purchaser shall (a) deliver to Seller duly executed counterparts of the
documents referred to in clauses (i) and (ii) of the forepart of this sentence
and (b) make payment of that portion of the purchase price provided for in
Section 2.2.2 in the manner provided in Section 2.2.
ARTICLE IX
Termination and Abandonment
9.1 Termination. This Agreement may be terminated and the
transactions contemplated hereby may be abandoned at any time prior to the
Closing Date:
9.1.1 by mutual action of the Purchaser and the Seller;
9.1.2 by the Purchaser if (a) the Seller shall have breached
or failed to perform any of its covenants contained herein, which breach or
failure is not capable of remedy and which, if in existence immediately prior to
the scheduled Closing, would permit the Purchaser to elect not to effect the
transactions contemplated by this Agreement or (b) LHC shall have failed to
consent to the transaction contemplated hereby;
9.1.3 by the Seller if the Purchaser shall have breached or
failed to perform any of its covenants contained herein, which breach or failure
is not capable of remedy and which, if in existence immediately prior to the
scheduled Closing, would permit the Seller to elect not to effect the
transactions contemplated by this Agreement;
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9.1.4 by the Purchaser or the Seller if a court of competent
jurisdiction or other governmental body shall have issued an order, decree or
ruling or taken any other action restraining, enjoining or otherwise prohibiting
the transaction;
9.1.5 by the Seller if the Purchaser and Seller have received
a request for additional information under the HSR Act and neither the Purchaser
nor the Seller shall have been informed by August 15, 1996 that no governmental
body intends to seek an order restraining, enjoining or otherwise prohibiting
the transaction; or
9.1.6 by the Purchaser or the Seller if the Closing Date shall
not have occurred by August 31, 1996 for any reason other than the reason
specified in Section 9.1.5.
9.2 Procedure and Effect of Termination. In the event of termination
and abandonment of the Acquisition by the Purchaser, on the one hand, or by the
Seller, on the other hand, pursuant to Section 9.1, written notice thereof shall
forthwith be given to the other parties hereto and this Agreement shall
terminate (except as otherwise provided in Section 2.2.1), and the Acquisition
shall be abandoned without further action by any of the parties hereto. If this
Agreement is terminated as provided herein no party hereto shall (except as
otherwise provided in Section 2.2.1), have any liability or further obligation
to any other party under the terms of this Agreement except for willful breach
by any party hereto.
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ARTICLE X
Miscellaneous
10.1 Product Warranties; Product Liability Claims. Purchaser has not
assumed, and shall have no legal responsibility for, warranties for replacement
or repair of Cookware and Bakeware Products manufactured or sold by the Company
or the Seller or their predecessors; provided, however, that if the parties
reach an agreement as contemplated by Section 6.7, the rights and obligations of
the parties with respect to such warranties shall be governed by such agreement.
Moreover, Purchaser has not agreed to assume, and shall not be deemed to have
assumed, responsibility for product liability claims in respect of those
Cookware and Bakeware Products that were manufactured or sold by the Company or
the Seller or their predecessors.
10.2 Amendment and Modification. Subject to applicable law, this
Agreement may be amended, modified or supplemented only by a written agreement
signed by the parties hereto with respect to any of the terms contained herein.
10.3 Waiver of Compliance; Consents. Any failure of the Purchaser,
on the one hand, or the Parent and the Seller, on the other hand, to comply with
any obligation, covenant, agreement or condition herein may be waived by the
Purchaser or the Parent, respectively, only by a written instrument signed by
the party granting such waiver, but such waiver or failure to insist upon strict
compliance with such obligation, covenant, agreement or condition shall not
operate as a waiver
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of, or estoppel with respect to, any subsequent or other failure. Whenever this
Agreement requires or permits consent by or on behalf of any party hereto, such
consent shall be given in writing in a manner consistent with the requirements
for a waiver of compliance as set forth in this Section 10.3.
10.4 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed to have been duly given when delivered in
person, by courier or registered or certified mail (postage prepaid, return
receipt requested) to the respective parties at the following addresses (or at
such other address for a party as shall be specified by like notice):
if to the Purchaser, to it at:
Meyer Marketing Co. Ltd.
382 Kwun Tong Road
Kwun Tong, Kowloon, Hong Kong
Attn: Mr. C. K. Wong
Group Financial Controller
with copies to:
Meyer Corporation
601 Gateway Boulevard
Suite 1150
South San Francisco, California 94080
Attn: Mr. Stanley K. Cheng,
Chairman
with a copy to:
Baker & McKenzie
805 Third Avenue
29th Floor
New York, New York 10022
Attn: Malcolm I. Ross, Esq.
Richard L. Nevins, Esq.
24
24
if to the Parent or the Seller, to
the Parent at:
Syratech Corporation
175 McClellan Highway
East Boston, MA 02128-9114
Attn: Mr. Leonard Florence,
Chairman of the Board,
President and Chief
Executive Officer
with copies to:
Faye A. Florence, Esq.
Vice President and General Counsel
Syratech Corporation
175 McClellan Highway
East Boston, MA 02128-9114
and
Paul, Weiss, Rifkind, Wharton
& Garrison
1285 Avenue of the Americas
New York, New York 10019-6064
Attn: James L. Purcell, Esq.
10.5 Assignment. This Agreement and all of the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns, but neither this Agreement nor any
of the rights, interests or obligations hereunder shall be assigned by any of
the parties hereto without the prior written consent of the other parties
provided that assignment of any rights under the License Agreement shall be
governed by the terms of the License Agreement.
10.6 Expenses. Whether or not the Acquisition is consummated, all
costs and expenses incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such costs
or expenses, including, without limitation, its legal expenses.
25
25
10.7 Governing Law. This Agreement shall be governed by the laws of
the State of New York applicable to agreements made and to be performed entirely
within such State.
10.8 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
10.9 Entire Agreement. This Agreement, including the documents or
instruments referred to herein, embodies the entire agreement and understanding
of the parties hereto in respect of the subject matter contained herein. There
are no restrictions, promises, representations, warranties, covenants, or
undertakings, other than those expressly set forth or referred to herein. This
Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.
10.10 No Third Party Beneficiaries. Except as otherwise provided in
Section 6.4, this Agreement is not intended to, and does not, create any rights
or benefits in favor of any party other than the parties hereto.
10.11 Facsimile Signatures. Delivery of a facsimile counterpart of
one or more signature pages of this Agreement or the Guaranty annexed hereto as
Exhibit G purporting to bear the signatures of one or more parties to this
Agreement by counsel to the party or parties to this Agreement whose signature
is, or whose signatures are, thus proffered shall suffice to
26
26
evidence the due execution of this Agreement and/or of such Guaranty by such
party or parties hereto or thereto.
IN WITNESS WHEREOF, the Parent, the Seller and the Purchaser have
each caused this Agreement to be signed by its duly authorized officer as of the
date first above written.
MEYER MARKETING CO. LTD.
By _________________________
Name: Robert Rae
Title: President
SYRATECH CORPORATION
By _________________________
Name: Leonard Florence
Title: Chairman and
President
FARBERWARE INC.
(formerly known as Far-B
Acquisition Corp.)
By _________________________
Name: Leonard Florence
Title: Chairman and
President
27
EXHIBIT A
Definitions, Interpretation and Construction
1.1 Definitions. As used in the Agreement (as hereinafter
defined) the following terms have the following meanings:
"Agreement" means the Agreement, dated as of May 3,
1996 by and among Syratech Corporation ("Parent"), Farberware Inc. (formerly
known as Far-B Acquisition Corp.) ("Seller") and Meyer Marketing Co. Ltd.
("Purchaser") to which this Exhibit A is annexed.
"Asset Purchase Agreement" means the Asset Purchase
Agreement to which reference is made in the second recital to this Agreement.
"Company" has the meaning ascribed to it in the first
recital to the Agreement.
"Cookware and Bakeware Products" means non-electric
pots, pans, grills (other than outdoor grills and grills of the types pictured
on pages 44 and 45 of LHC's Current Farberware Catalogue), griddles, kettles
(but only those made of stainless steel, regular aluminum or anodized aluminum),
woks, rotisseries (other than electrified or outdoor rotisseries), steamers and
other vessels, containers, receptacles and devices (other than coffee urns) of
all kinds and materials (including glass and ceramic cookware but EXCLUDING
glass and ceramic bakeware or other food preparation items similar to those
marketed, or generally known, as "Pyrex" products and ALSO EXCLUDING disposable
cookware and bakeware products made from aluminum foil and/or similar materials)
for use in the preparation of baked, barbecued, boiled, fried, grilled, roasted,
steamed and other cooked foods at home (as distinguished from the commercial,
industrial and/or institutional preparation thereof). Notwithstanding the
foregoing limitations of the definition of "Cookware and Bakeware Products,"
such definition shall include commercial, industrial and institutional size
pots, pans (including baking pans) and roasters and shall also include the
non-electrified bodies of those frying pans, griddles and woks heretofore
electrified by the Company and marketed by the Company as electric frying pans,
electric griddles and electric woks; but nothing in this definition shall permit
the holder of Cookware and Bakeware Products Rights to electrify any of such
items or to market any electric frying pans, electric griddles, electric woks or
any other Electric Products under the Farberware name and trademark.
"Cookware and Bakeware Products Rights" means all
rights to use and exploit the Farberware name and related trademarks in
connection with the sourcing, manufacture and/or distribution of (i) Cookware
and Bakeware Products for home (as distinguished from commercial, industrial
and/or institutional) use and (ii) commercial, industrial and/or institutional
size pots, pans (including baking pans)
28
A-2
and roasters for commercial, industrial and/or institutional use, and include
ownership of, and the rights of the Company and the Seller (including the right
to receive royalties accruing after the Closing under the Agreement) under, or
arising upon expiration of, the Meyer Marketing License; provided, however, that
the word "devices" as used in the definition of "Cookware and Bakeware Products"
shall not be deemed to confer upon the holder of the Cookware and Bakeware
Products Rights any right to use and exploit the Farberware name and related
trademarks in connection with the sourcing, manufacture and/or distribution of
devices that are the same or similar to and intended for the same use as devices
that are both (a) included in LHC's Current Farberware Catalogue, and (b) not
included among devices that as of the date hereof are sourced, manufactured
and/or distributed by the Seller and its predecessors and their licensees (other
than LHC) pursuant to Existing Farberware Licenses; and provided, further, that
the term "Cookware and Bakeware Products Rights" shall not include rights to use
and exploit the Farberware name and related trademarks in connection with the
sourcing, manufacture and/or distribution of Electric Products of any kind, it
being understood and agreed that Seller is reserving to itself the right to use
and exploit (directly or by assignment, licensing or otherwise) all Electric
Products Rights, including rights to manufacture, source, market and otherwise
exploit electrified versions of the frying pans, griddles and woks referred to
in the final sentence of the definition of Cookware and Bakeware Products.
"Electric Products Rights" means rights to use and
exploit the Farberware name and trademark in connection with the sourcing,
manufacture and/or distribution of "Electric Products," i.e., electrical items
of all kinds (whether for home, commercial, industrial and/or institutional use
and whether or not now invented or sold under the Farberware name), including,
by way of illustration and without limitation, electric coffee makers, espresso
machines, grinders of all kinds, juicers, mixers, blenders, food processors,
deep fryers, corn poppers, toasters, toaster ovens, convection ovens, microwave
ovens, hot plates, waffle and sandwich makers, bread makers, grills, griddles,
frying pans, woks, warmers, can openers and other small electrical appliances,
electric grooming aids, electric cleaning devices and other electric products of
all kinds, excluding, however, electric pepper mills and major consumer
appliances, such as refrigerators, clothes washers, clothes dryers, dishwashers
and electric ranges.
"Existing Farberware Licenses" means Farberware
Licenses heretofore granted by the Company (or any predecessor of the Company)
that are valid and subsisting and includes, without limitation, the license
agreements identified on the schedule annexed to the Agreement as Exhibit E.
"Farberware Licenses" means licenses to manufacture
(and/or cause to be manufactured) and/or market products under and using the
"Farberware" name and trademark and includes, without limitation, the Existing
Farberware Licenses.
29
A-3
"Intellectual Property Rights" means all of the
rights of the Seller (which includes all of the rights owned by the Company and
its subsidiaries immediately prior to the Closing under the Asset Purchase
Agreement) in, and with respect to, the trademarks, trade names, service marks,
copyrights (including applications for, rights to acquire and other rights with
respect to, any of the foregoing), licenses, technology, know-how, trade
secrets, franchises, authorizations (and all documentation relating to the
foregoing) of the Seller (which includes all of the rights that were owned by
the Company and its subsidiaries immediately prior to the Closing under the
Asset Purchase Agreement) used or heretofore proposed to be used by the Seller
or its predecessors in interest (including the Company and its subsidiaries) in
connection with the Farberware Business, including, without limitation, (i) the
name "Farberware" and (ii) the patents, trademarks and copyrights included in
the Sale Assets to the extent that such patents, trademarks and copyrights were
effectively conveyed to the Seller on the Purchase Date.
"Inventory" means all quantities of finished goods
inventories (including wrapped goods) of Cookware and Bakeware Products, but
shall not include raw materials or work in process.
"LHC" means Lifetime Hoan Corporation, a Delaware
corporation.
"LHC's Current Farberware Catalogue" means the
catalogue bearing the front cover inscription "FARBERWARE(R) Cutlery Kitchen
Tools Gadgets Cutting Boards BBQ Accessories," consisting of a front cover, a
back cover, four pages (marked i through iv) listing style numbers and product
descriptions, and fifty pages (numbered 2 through 51) of product pictures, and
having on the back cover thereof the following information inter alia: Lifetime
Hoan Corporation, Westbury, NY 11590 CAT. NO. ZYFW2CAT, which catalogue is
currently being circulated by LHC.
"Lifetime License" means the License Agreement dated
December 14, 1989 between the Company and Lifetime Cutlery Corp., as
supplemented by letter, dated November 16, 1990, on Farberware Inc. stationery,
addressed to Mr. Jeff Siegel and signed by Kevin O'Malley, as the same may be or
be deemed to be, amended or replaced pursuant to the Agreement, dated as of
February 2, 1996, by and among Parent, LHC and Seller.
"Meyer Marketing License" means the License and
Distribution Agreement dated September 29, 1995 between the Company and Meyer
Marketing Company, Ltd., as amended by supplemental letter of even date
therewith.
"Parent" has the meaning ascribed to that term in the
definition of Agreement.
30
A-4
"Person" means any individual, corporation,
partnership, firm, joint venture, association, joint-stock company, trust,
unincorporated organization, governmental body or other entity.
"Purchase Date" means April 2, 1996, i.e., the date
on which the purchase of the Sale Assets from the Company was completed.
"Purchaser" has the meaning ascribed to that term in
the definition of Agreement.
"Sale Assets" means all Assets (as defined in the
Asset Purchase Agreement) that were conveyed to Seller pursuant to Section 1.1
of the Asset Purchase Agreement.
"Seller" has the meaning ascribed to that term in the
definition of Agreement.
1.2 Interpretation. In the Agreement, unless a clear contrary
intention dictates otherwise:
1.2.1 the singular number includes the plural number
and vice versa;
1.2.2 reference to any Person includes such Person's
successors and assigns but, if applicable, only if such successors and assigns
are permitted by the terms of the applicable agreement; and reference to a
Person in a particular capacity excludes such Person in any other capacity or
individually;
1.2.3 reference to either gender includes the other
gender;
1.2.4 reference to any agreement (including the
Agreement and the Exhibits and Schedules attached thereto), document or
instrument means such agreement, document or instrument as amended or modified
and in effect from time to time in accordance with the terms thereof and, if
applicable, the terms of the Agreement;
1.2.5 reference to any Law means as amended,
modified, codified, replaced or re-enacted, in whole or in part, and in effect
on the date of the Agreement, including rules, regulations, enforcement
procedures and any interpretations promulgated thereunder;
1.2.6 reference to any Article, Section, subsection,
clause, Exhibit or Schedule means such Article, Section, subsection or clause of
the Agreement or Exhibit or Schedule thereto;
31
A-5
1.2.7 "herein," "hereunder," "hereof," "hereto" and
words of similar import shall be deemed references to the Agreement as a whole
and not to any particular Article, Section, subsection, clause, Exhibit or
Schedule attached thereto;
1.2.8 "including" (and with correlative meaning
"include") means including without limiting the generality of any description
preceding such term; and
1.2.9 the headings contained in the Agreement
(including the Exhibits and Schedules attached thereto) are for reference
purposes only and shall not affect in any way the meaning or interpretation of
the Agreement.
1.3 Construction. The parties have participated jointly in the
negotiation and drafting of the Agreement directly and through their respective
counsel, i.e. Paul, Weiss, Rifkind, Wharton & Garrison, on behalf of Parent and
Seller, and Baker & McKenzie, on behalf of Purchaser. In the event an ambiguity
or question of intent or interpretation arises, the Agreement shall be construed
as if drafted jointly by the parties and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any
provision of the Agreement.
32
EXHIBIT C
LICENSE AGREEMENT
LICENSE AGREEMENT, dated as of , 1996 (the
"Effective Date"), by and between FARBERWARE INC. (formerly known as Far-B
Acquisition Corp.), a Delaware corporation (the "Licensor") and an indirect
wholly-owned subsidiary of Syratech Corporation, a Delaware corporation (the
"Parent"), and MEYER MARKETING CO. LTD., a British Virgin Islands corporation
(the "Licensee").
WHEREAS, Licensor has acquired and owns certain trademarks,
patents and copyrights relating to Cookware and Bakeware Products as defined
herein, as well as to other products; and
WHEREAS, the Licensor wishes to grant, and the Licensee wishes
to receive, a license under certain trademarks, patents and copyrights relating
to Cookware and Bakeware Products, all upon the terms and subject to the
conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained, and of other good and valuable consideration, each
to the other in hand paid, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
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ARTICLE I
Definitions, Interpretation and Construction
The capitalized terms used in this License Agreement are
defined, and the rules governing the interpretation and construction of this
License Agreement are set forth, in Schedule I annexed hereto; and the text and
provisions of said Schedule I are incorporated herein by reference as though set
forth at length in this Article I.
ARTICLE II
Grant of Licenses
2.1 Licensor hereby grants to Licensee for the period from the
Effective Date until Termination in accordance with Article XIII below:
2.1.1 The exclusive right and license to use and
exploit throughout the World (except as hereinafter provided) the Farberware
name and related trademarks in connection with the sourcing, manufacture and/or
distribution of (i) Cookware and Bakeware Products for home (as distinguished
from commercial, industrial and/or institutional) use and (ii) commercial,
industrial and institutional size pots, pans (including baking pans) and
roasters for commercial, industrial or institutional use; provided, however,
that the word "devices" as used in the definition of "Cookware and Bakeware
Products" shall not be deemed to confer upon Licensee any right to use and
exploit the Farberware name and related trademarks in connection with the
sourcing, manufacture and/or distribution of devices that are the same or
similar to and intended for the same use as devices that are both (a) included
in LHC's Current Farberware Catalogue, and (b) not included among devices that
as
34
C-3
of the date hereof are sourced, manufactured and/or distributed by the Licensor
and its predecessors and their licensees (other than LHC) pursuant to Existing
Farberware Licenses; and provided, further, that the rights conferred by this
Section 2.1.1 shall not include rights to use and exploit the Farberware name
and related trademarks in connection with the sourcing, manufacture and/or
distribution of Electric Products of any kind, it being understood and agreed
that Licensor is reserving to itself the right to use and exploit (directly or
by assignment, licensing or otherwise) all Electric Products Rights, including
rights to manufacture, source, market and otherwise exploit electrified versions
of the frying pans, griddles and woks referred to in the final sentence of the
definition of Cookware and Bakeware Products.
2.1.2 The exclusive right and license to use and
exploit those specific Intellectual Property Rights that were acquired by
Licensor pursuant to the Asset Purchase Agreement and that are listed on
Schedule II annexed hereto, such specific Intellectual Property Rights, together
with such registrations thereof as may hereafter be effected in additional
countries in accordance with Section 5.2 solely for Cookware and Bakeware
Products, being herein collectively called "Schedule II Rights."
2.1.3 The non-exclusive right to use and exploit so
much of the other Intellectual Property Rights acquired by the Licensor pursuant
to the Asset Purchase Agreement (including, without limitation, such of the
Intellectual Property Rights listed on Schedule III annexed hereto as were so
acquired by Licensor but are not listed on Schedule II) as (i) have heretofore
been used or exploited by the Licensor or its predecessors in connection with
the sourcing, manufacture and
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C-4
distribution of Cookware and Bakeware Products and which Licensor shall have
identified as such, and (ii) may be used and exploited without violating the
rights of third parties, including, without limitation, the rights of parties to
the Existing Farberware Licenses and the Lifetime License, such non-exclusive
Intellectual Property Rights, together with such registrations thereof as may
hereafter be effected in additional countries in accordance with Section 5.2 not
solely for Cookware and Bakeware Products, being herein collectively called
"Schedule III Rights."
2.2 Licensor reserves unto itself all other rights in and to
the Intellectual Property. Without limiting the generality of the next preceding
sentence and notwithstanding the grant of rights made to Licensee pursuant to
Section 2.1, Licensor and Parent shall have the right at any time and from time
to time to sell any and all Inventory owned by Licensor or Parent at the time of
the Closing under the Agreement or that Licensor is thereafter required to
purchase under the MSA (including Inventory required to be purchased pursuant to
Licensor's exercise prior to the date of the Agreement of Licensor's option
under Section 2.A of the MSA to extend the initial Production Period), and all
returns thereof. Notwithstanding the grants of trademark and other intellectual
property rights being made to Licensee pursuant to Section 2.1, (i) Parent and
Licensor shall each have the right and license (so long as either of them owns
any Inventory acquired from the Company or returned by customers) to use and
exploit (and to authorize their customers to use and exploit in connection with
resale of the Inventory) all of the Intellectual Property Rights that have at
any time been used or exploited by the Licensor or the Company or others in the
marketing of Inventory and (ii) the Company has a continuing royalty
36
C-5
free license to use the name Farberware in connection with (and only in
connection with) the sale in Australia of finished goods Inventory located in
Australia on the Purchase Date.
ARTICLE III
Ownership and Use of Intellectual Property Rights
3.1 Licensee acknowledges Licensor's exclusive ownership of
the Intellectual Property Rights, including any and all trademarks, service
marks, copyrights and patents listed on Schedule III, and agrees that it will do
nothing inconsistent with such ownership.
3.2 Licensee acknowledges and agrees that all of the
Intellectual Property Rights and the goodwill pertaining to the Intellectual
Property Rights is vested in Licensor. Licensor agrees to record this License
Agreement and/or to register Licensee as a user of the Intellectual Property
Rights licensed hereby with appropriate government authorities and to execute
all further lawful documents necessary to effect the terms of this License
Agreement in various countries in a manner that will preserve the ownership
rights of Licensor therein; and Licensee agrees to assist Licensor in so doing.
If, after being requested to do so by Licensee, Licensor shall for any reason
fail to record this License Agreement, or, alternatively, to register Licensee
as a user of the Intellectual Property Rights licensed hereby with appropriate
government authorities, or otherwise fail to make other necessary filings
hereunder, Licensee shall have the right, on notice to Licensor, to do so; and
in such event Licensor shall cooperate with Licensee in the exercise of such
right.
37
C-6
3.3 Licensee agrees to follow the instructions of Licensor for
proper use of the Intellectual Property Rights licensed hereby in order that
protection and/or registrations therefor may be obtained or maintained. Licensee
agrees that, except as specifically provided in Article II, nothing in this
License Agreement shall give Licensee any right, title or interest in or to any
of the Intellectual Property Rights licensed hereby including (i) the vesting of
ownership of the Intellectual Property Rights in Licensee, (ii) the vesting of
secondary meaning rights to the Intellectual Property in Licensee, or (iii) the
loss by Licensor of any of its rights in and to the Intellectual Property
reserved to Licensor herein (including rights of reverter which are hereby so
reserved) other than the right and license to exercise Intellectual Property
Rights in accordance with, and subject to the terms and conditions of, this
License Agreement. Licensee further agrees that it will not attack the title of
Licensor to any of the Intellectual Property Rights, or attack the validity of
the Intellectual Property Rights, or attack the validity of this License
Agreement.
ARTICLE IV
Quality Standards and Control
4.1 Licensor acknowledges that adherence to high standards of
quality, safety, style and appearance in the manufacture and distribution of
Cookware and Bakeware Products is imperative to preservation of the integrity
and value of the Farberware name, related trademarks and associated good will;
and Licensee undertakes and agrees that all Cookware and Bakeware Products
manufactured and distributed by Licensee using the Farberware name and related
trademarks shall (i)
38
C-7
comply with applicable laws and regulations and (ii) conform to standards of
quality, safety, style and appearance at least equal to those standards that
have heretofore applied to first quality Cookware and Bakeware Products
manufactured and distributed by the Company, which the parties agree are
acceptable standards. The Licensee further agrees that Licensor shall have the
right to assure itself that the Licensee is complying with the standards set
forth in this Section 4.1 either by means of the procedure set forth in Section
4.2 ("Prior Approval") or by means of the procedure set forth in Section 4.3
("Post Production Review"), the choice of procedure to be chosen by the Licensee
in the Licensee's sole and absolute discretion.
4.2 If Licensee chooses to seek Prior Approval of a Cookware
or Bakeware Product, Licensee will initially forward to Licensor a prototype
sample ("Initial Sample") thereof. Upon receipt of Licensor's approval of the
Initial Sample, Licensee will produce a production sample. Licensee agrees to
test such Cookware and Bakeware Product before production of said product in
Licensee's own laboratory and to submit written results of such test along with
a sample ("Approval Sample") of the Cookware and Bakeware Product so tested to
Licensor. Licensor may, for any reason, submit any such Approval Sample to an
independent laboratory for testing. All costs, fees and expenses associated with
the testing by the independent laboratory will be borne by the Licensee.
Licensor agrees to inspect expeditiously each such Approval Sample and to notify
Licensee of its approval within fifteen (15) days of receipt, and if not
approved, to advise Licensee, in writing, of any and all corrections reasonably
required in order for it to be approved. The quality of each Cookware or
Bakeware Product offered for sale by Licensee shall be in conformity with the
39
C-8
Approval Sample thereof. If Licensor does not so respond within thirty (30)
days, the Approval Sample shall be deemed approved by Licensor. The cost of all
Approval Samples, including any and all shipping charges, shall be borne
exclusively by Licensee. Licensor shall be entitled from time to time to inspect
random samples (which Licensee agrees to make available at no charge to
Licensor) from the production stock of Cookware and Bakeware Products that
received Prior Approval to confirm that production stock of such products
substantially conforms with the Approval Samples thereof. Production samples of
any Cookware or Bakeware Products that conform to the Approval Samples thereof
shall be deemed to meet the standards required by Section 4.1.
4.3 If Licensee elects not to pursue prior approval of any
Cookware or Bakeware Product in accordance with Section 4.2 above, Licensee
shall be deemed to have opted for Post Production Review of such product, and
Licensee may proceed with the production and marketing of such Cookware or
Bakeware Product so long as Licensee determines in good faith that such product
conforms to the standards required by Section 4.1. Prior to or contemporaneously
with Licensee's first commercial sale of any Cookware or Bakeware Product for
which Licensee did not seek Prior Approval in accordance with Section 4.2,
Licensee shall provide Licensor with written notice of Licensee's introduction
of such Cookware or Bakeware Product. Licensee agrees to make available to
Licensor at no charge such samples of each of the Cookware and Bakeware Products
produced by Licensee as Licensor may from time to time reasonably request for
the purpose of testing such products for compliance with applicable laws and
regulations, and to enable Licensor to determine
40
C-9
whether such products comply with the standards specified in Section 4.1 above.
If Licensor thereafter determines in Licensor's reasonable discretion (which
shall not be arbitrarily or capriciously exercised) that any Cookware or
Bakeware Product not previously approved in writing (except as otherwise
provided in the penultimate sentence of Section 4.2) does not comply with
applicable laws and regulations or meet the quality standards required by
Section 4.1, Licensor shall have the right (which shall be exercised reasonably
and, if challenged by Licensee, shall be subject to the Dispute Resolution
procedures set forth in Article XV) by written notice to Licensee to order that
such product be withdrawn from the market immediately. A failure promptly to
comply with any such order that is not challenged or, if challenged, is upheld
will be deemed to be a breach of this License Agreement.
4.4 Licensee agrees to permit Licensor upon reasonable request
to inspect Licensee's manufacturing operations and testing records (and those of
Licensee's suppliers) for the Cookware and Bakeware Products.
4.5 Any modification of any Cookware or Bakeware Product,
including change of materials, design or size shall be treated as if it were a
new product.
4.6 Licensee acknowledges that adherence to high standards of
quality, style and appearance in the packaging and advertising (including any
printed materials) of Cookware and Bakeware Products or in related uses of the
Farberware name, logo or related trademarks in any form or manner whatsoever
(collectively, "Packaging and/or Promotional Materials") is essential to
preservation of the integrity and value of the Farberware name, related
trademarks and associated good will; and
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C-10
Licensee undertakes and agrees that all Packaging and/or Promotional Materials
using the Farberware name, logo or related trademarks shall conform to standards
of quality, style and appearance at least equal to those standards that (i) have
heretofore applied in the packaging and marketing of first quality Cookware and
Bakeware Products manufactured and distributed by the Company or, alternatively,
(ii) have applied, or from time to time hereafter may be applied, to the
packaging and marketing of high-grade Cookware and Bakeware Products
manufactured and distributed by the Licensee under its own name or that of Meyer
Corporation; and the parties agree that adherence to either of those standards
shall be, and be deemed to be, adherence to an acceptable standard. The Licensee
further agrees that Licensor shall have the right to assure itself that the
Licensee is adhering to a standard permitted by this Section 4.6 either by means
of the procedure set forth in subsection 4.6.1 ("Prior Approval"), or by means
of the procedure set forth in subsection 4.6.2 ("Post-Utilization Review"), the
choice of procedure to be made by Licensee in Licensee's sole and absolute
discretion.
4.6.1 If Licensee chooses to seek Prior Approval of
any Packaging and/or Promotional Materials, Licensee shall submit samples
(hereinafter referred to as "Print Samples") of such Packaging and/or
Promotional Materials to Licensor for approval prior to use thereof. Licensor
agrees expeditiously to inspect such Print Samples and to notify Licensee of its
approval within 15 days of receipt and, if not approved, to advise Licensee in
writing of any and all changes reasonably required in order for them to be
approved. The quality of the Packaging and/or Promotional Materials utilized by
Licensee shall be in conformity with the Print
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Samples. If Licensor does not so respond within 30 days, the Print Samples shall
be deemed approved by the Licensor. The cost of all Print Samples, including any
and all shipping charges, shall be borne exclusively by Licensee.
4.6.2 If Licensee elects not to pursue Prior Approval
of any Packaging and/or Promotional Materials in accordance with subsection
4.6.1 above, Licensee shall be deemed to have opted for Post-Utilization Review
of such Packaging and/or Promotional Materials, and Licensee may proceed with
use thereof so long as Licensee determines, in good faith, that such Packaging
and/or Promotional Materials conform to a standard permitted by the introductory
part of this Section 4.6. Prior to or contemporaneously with Licensee's first
public use of any Packaging and/or Promotional Materials for which Licensee did
not seek Prior Approval in accordance with subsection 4.6.1, Licensee shall
provide Licensor with written notice of Licensee's utilization thereof, and, if
requested to do so by Licensor, shall make available to Licensor at no charge,
Print Samples of such Packaging and/or Promotional Materials for the purpose of
enabling Licensor to determine whether such Packaging and/or Promotional
Materials comply with a standard permitted by the forepart of this Section 4.6.
If Licensor thereafter determines in Licensor's reasonable discretion (which
shall not be arbitrarily or capriciously exercised) that the Packaging and/or
Promotional Materials that were not previously approved do not comply with a
standard permitted by the introductory part of this Section 4.6, Licensor shall
have the right (which shall be exercised reasonably and, if challenged by
Licensee, shall be subject to the dispute resolution procedures set forth in
Article XV), by written notice to Licensee, to order that use of such Packaging
and/or
43
C-12
Promotional Materials be discontinued immediately. The failure promptly to
comply with any such order that is not challenged, or, if challenged, is upheld,
will be deemed to be a breach of this License Agreement.
4.7 If Licensee at any time desires to have any Cookware or
Bakeware Products or components thereof manufactured by a third party and if any
such third party manufacturer utilizes the Licensed Intellectual Property Rights
for any unauthorized purpose, Licensee shall cooperate fully in bring such
utilization to an immediate halt. If as a result of the activities of any such
third party manufacturer, Licensor is subjected to any penalty or expense,
Licensee will on demand fully compensate Licensor for any cost or loss Licensor
sustains.
4.8 All complaints concerning any Cookware or Bakeware
Products or any of the Intellectual Property Rights, which are received, either
directly or indirectly, by the Licensee and which could reasonably be expected
to result either in litigation against the Licensor or, alternatively, in a
discernible diminution in the value of any of the Intellectual Property Rights,
shall be promptly forwarded by the Licensee to the Licensor.
4.9 All returns of Cookware or Bakeware Products sold by
Licensee under this License Agreement shall be directed to Licensee. In the
event that any Cookware or Bakeware Products sold by Licensee are returned to
Licensor by consumers, Licensee shall reimburse Licensor for Licensor's actual
costs of handling and shipping the same via United Parcel Service to Licensee.
In the event that any Cookware or Bakeware Products sold by Licensor are sent to
Licensor by distributors, merchants or wholesalers, Licensor shall decline to
accept delivery
44
C-13
thereof and cause such products to be returned to the distributors, merchants or
wholesalers from whom they were sent, together with instructions to deal with
the Licensee with respect to any proposed return of products manufactured by it.
ARTICLE V
Trademarks and Service Marks
5.1 Except with the written consent of Licensor, neither
Licensee nor any of its subsidiaries or affiliates will register or attempt in
any country to register any of the Licensed Intellectual Property Rights
(including any Marks), or any word, symbol or design which is so similar thereto
as to suggest association with or sponsorship by Licensor. In the event of
breach of the foregoing, Licensee agrees, at its expense and at Licensor's
request, immediately to terminate the unauthorized registration activity, and
promptly to execute and deliver, or cause to be delivered, to Licensor such
assignments and other documents as Licensor may require to transfer to Licensor
all rights to the Marks or other Intellectual Property, registrations and
applications involved.
5.2 Licensee shall not use or exercise any Licensed
Intellectual Property Rights (including the right to use any trade name,
trademark or service mark) granted by this License Agreement in any country
unless or until an application has been filed for the relevant Licensed
Intellectual Property Right to be duly registered in such country by Licensor.
Licensor shall promptly file applications for such registration upon request by
Licensee at Licensee's expense. If Licensor shall for any reason fail to file
any such application within a reasonable time after being
45
C-14
requested to do so, Licensee shall have the right, on notice to Licensor, to
make such filing; and in such event Licensor shall cooperate with Licensee in
the exercise of such right. Licensor may determine whether or not to seek
registration of any Intellectual Property Right solely for Cookware and Bakeware
Products or for additional categories as well. Applications and registrations of
Licensed Intellectual Property Rights solely for Cookware and Bakeware Products
shall be Schedule II Rights for purposes of this License Agreement. Applications
and registrations of Licensed Intellectual Property Rights not solely for
Cookware and Bakeware Products shall be Schedule III Rights for purposes of this
License Agreement.
5.3 Licensee shall also provide Licensor with specimens of use
of the Licensed Intellectual Property Rights necessary for filing trademark
applications, statements of use, renewals of registration and other such
registration documents in timely fashion upon request.
5.4 Licensee agrees that it shall affix to every item and
package of the Cookware and Bakeware Products a notice to indicate the rights of
Licensor in the Licensed Intellectual Property Rights, including registration
status of the Licensed Marks, and that the Cookware and Bakeware Products are
manufactured and sold pursuant to a license from Farberware Inc.
ARTICLE VI
Patent and Copyright Marking
6.1 At all times from the Effective Date and until termination
of the patents, Licensee shall affix to Cookware and Bakeware Products a
statement,
46
C-15
identifying each applicable United States Patent, substantially in the following
form: "Licensed under United States Patent No. _______."
6.2 At all times from the Effective Date and until termination
of the copyrights, Licensee shall affix to all copies of copyrighted materials
including copyrighted designs and related documentation, or portions thereof,
made or used by Licensee hereunder, a copyright notice in either of the
following forms: "Copyright [year], Farberware Inc. All Rights Reserved." or (C)
[year], Farberware Inc. All Rights Reserved." The notice shall be affixed to all
copies or portions thereof in such manner and location as to give reasonable
notice of Licensor's claim of copyright.
ARTICLE VII
Reimbursement by Licensee
Licensee shall reimburse Licensor for all official fees and
attorney's fees in connection with renewal, maintenance, application for
registration, license recordal, user registration and other fees pertaining to
the Intellectual Property Rights licensed hereunder, including the Licensed
Marks, patents and copyrights, and shall reimburse Licensor for all license
recordal, user, registration and other fees necessary, in the view of Licensor,
for Licensee to exercise the licenses and rights granted in this License
Agreement for the manufacture, sourcing, and exploitation of Cookware and
Bakeware Products. Notwithstanding the foregoing sentence of this Article VII,
if any renewal, maintenance, application for registration, license recordal,
user registration or other fees and related expenses (collectively "Maintenance
Charges") are incurred in connection with the use of an Intellectual
47
C-16
Property Right by, or the protection of such Intellectual Property Right for,
Licensee and other lawful users of such Intellectual Property Right (including
Licensor), such maintenance charges shall be apportioned among the users of such
Intellectual Property Right (including Licensee and Licensor) in accordance with
their comparative usage and enjoyment of the benefits thereof.
ARTICLE VIII
Indemnification
8.1 Licensee shall exonerate, indemnify and hold harmless
Licensor and the other Indemnified Parties at all times from and after the
Effective Date against all claims, liabilities (including settlements entered
into in good faith with Licensee's consent, not to be unreasonably withheld) and
expenses (including reasonable attorneys' fees, disbursements and other charges)
arising out of Licensee's activities hereunder, or out of any defect (whether
obvious or hidden and whether or not present in any sample approved by Licensor)
in any Cookware or Bakeware Products, or arising from personal injury, or
property damage, or any infringement of any rights of any other person by the
manufacture, sale, possession or use of any Cookware or Bakeware Products, or
their failure to comply with applicable laws, regulations and standards. Without
limiting the generality of the foregoing, Licensee agrees to exonerate,
indemnify and hold Licensor, Parent and their respective officers, directors and
employees, harmless of, from and against any liability or expense arising from
any claim that the Cookware and Bakeware Products or the use of the Intellectual
Property Rights on or in connection with the Cookware and
48
C-17
Bakeware Products hereunder or any packaging, advertising or promotional
material infringes on any patent, copyright or trademark right of any third
party or otherwise constitutes unfair competition by reason of any prior rights
acquired by such third party. The Indemnified Parties hereunder shall include
Parent and Licensor and their respective officers, directors, employees and
agents.
8.2 No warranty or indemnity is given by Licensor with respect
to any liability or expense arising from any claim that use of any of the
Intellectual Property Rights on or in connection with any of the Cookware and
Bakeware Products hereunder or any packaging, advertising or promotional
material infringes on any trademark right of any third party or otherwise
constitutes unfair competition by reason of any prior rights acquired by such
third party other than rights acquired from Licensor. It is expressly agreed
that it is Licensee's responsibility to carry out such investigations as it may
deem appropriate to establish that all Cookware and Bakeware Products,
packaging, promotional and advertising material, which are manufactured or
created hereunder, including any use made of the Intellectual Property Rights
therewith, do not infringe such rights of any third party, and Licensor shall
not be liable to Licensee if such infringement occurs.
ARTICLE IX
Insurance
9.1 To assure the exoneration and indemnification provided for
in Section 8.1, Licensee shall, at Licensee's expense, obtain product liability
insurance with respect to Licensed Products sold hereunder in the following
amounts:
49
C-18
$1,000,000 - for injury to one person
$3,000,000 - for injury to two or more persons
$1,000,000 - for damages to property
$5,000,000 - umbrella
The insurance obtained by Licensee shall be in form and with insurers reasonably
acceptable to Licensor, and shall provide coverage for Licensor as an additional
insured. Upon the execution of this License Agreement, Licensee shall submit to
Licensor original or duplicate policies of insurance or certificates of the
insurers showing such insurance in effect, which policies or certificates shall
provide that the insurer shall provide to Licensor written notice of alteration
or cancellation of the insurance policy at least thirty (30) days prior to such
alteration or cancellation of the insurance policy. Licensor shall indemnify
Licensee from and against any claim that Licensee is not entitled to use the
Licensed Intellectual Property Rights pursuant to this License Agreement because
such use allegedly infringes on the rights of any third party granted to such
third party by Licensor.
9.2 If available, Licensor shall purchase, at Licensor's
expense (subject to the limitation hereinafter stated), an insurance policy
insuring Licensee for a term of six years against all loss, liability or expense
(including reasonable attorneys' fees, disbursements and other charges), which
exceeds a specified deductible amount that is no greater than the deductible
amount applicable under Licensee's own present product liability insurance
policy and which shall have been incurred by Licensee as a result of product
liability claims hereafter asserted against Licensee in respect of Cookware and
Bakeware Products that were manufactured and sold by Licensor or U.S.
Industries, Inc. or Hanson Industries, Plc. The aggregate
50
C-19
amount of the premiums that Licensor shall be required to pay for such coverage
over the six year period shall not exceed One Hundred Thousand Dollars
($100,000). If such insurance coverage cannot be obtained at any price,
Licensor's obligation to obtain such coverage shall be void. If such insurance
coverage can be obtained but the cost thereof over the six year period would
exceed One Hundred Thousand Dollars ($100,000), Licensee shall have the option
to contribute the difference between the cost of such coverage and One Hundred
Thousand Dollars or accept lesser coverage or a shorter term or a combination of
any thereof. Licensor shall have no other obligation or liability to Licensee
for product liability claims in respect of Cookware and Bakeware Products
manufactured or sold by the Licensor and/or its predecessors.
ARTICLE X
Limitation of Licensor's Rights
Except as otherwise provided in Section 2.2, Licensor shall
not use the Cookware and Bakeware Products Rights (as defined in the Agreement)
for itself on Cookware and Bakeware Products during the Term. Licensor shall not
license any other party to use the Cookware and Bakeware Products Rights on
Cookware and Bakeware Products during the Term.
51
C-20
ARTICLE XI
Royalty Payments
On or before April 1 of each year during the Term, Licensee
shall pay to Licensor the sum of One Dollar (U.S. $1.00) in return for the
continuing license granted to Licensee herein.
ARTICLE XII
Unlicensed Use of Licensed Materials
12.1 Licensee agrees that it will not use the Licensed
Intellectual Property Rights in any way other than as herein authorized.
12.2 Licensee agrees to give Licensor prompt written notice of
any unlicensed use by third parties of Licensed Intellectual Property Rights,
and Licensee will not, without Licensor's written consent, bring or cause to be
brought any criminal prosecution, lawsuit or administrative action for
infringement, interference with or violation of any Licensed Intellectual
Property Rights. Licensee agrees to cooperate with Licensor and, if necessary,
to be named by Licensor as a sole complainant or co-complainant in any action
against an infringer of the Licensed Intellectual Property Rights, and,
notwithstanding any right of Licensee to recover same, legal or otherwise,
Licensee agrees to pay to Licensor, and hereby waives all claims to, all damages
or other monetary relief recovered in such action by reason of a judgment or
settlement (other than for reasonable expenses incurred at Licensor's request,
including reasonable attorney's fees, if Licensor has requested Licensee to
retain separate counsel), whether or not such damages or other monetary relief,
or
52
C-21
any part thereof, represent or are intended to represent injury sustained by
Licensee as a licensee hereunder.
ARTICLE XIII
Termination
13.1 Basic Term. Unless previously terminated, the term of
this License Agreement ("Term"), and the licenses granted herein, shall continue
from the Effective Date to April 30, 2196 (the "Expiration Date") and the
licenses under each of the Copyrights and Patents shall continue from the
Effective Date to the expiration of the term of such Copyright or Patent or any
renewal or extension thereof.
13.2 Termination. All of the rights and licenses granted by
this License Agreement shall terminate upon a material breach by Licensee of any
of the material terms and conditions of this License Agreement, which, after due
notice of same from Licensor, remains uncured for a period of 180 days if it is
determined in an arbitration proceeding conducted in accordance with Section
15.3 that such breach cannot be redressed by the payment of money damages alone
and is so egregious as to warrant forfeiture of the rights and license granted
to Licensee hereunder.
ARTICLE XIV
Effect of Termination
14.1 Upon termination of the licenses granted in this License
Agreement, Licensee agrees, except as otherwise provided in Section 14.2,
immediately to discontinue all use of the Licensed Intellectual Property Rights,
including all use of any terms confusingly similar to the Licensed Marks, to
cooperate
53
C-22
with Licensor or its appointed agent to apply to the appropriate authorities to
cancel recording of this License Agreement and all related agreements from all
government records, to destroy all printed materials bearing any of the Licensed
Marks, and that all rights in the Licensed Intellectual Property Rights and the
good will connected therewith shall remain the property of Licensor.
14.2 Upon termination of this License Agreement, Licensee
shall have the right to sell, for a period of twelve (12) months thereafter, any
Cookware and Bakeware Products on-hand or in the process of manufacture,
provided that Licensee shall be bound by all other obligations imposed upon it
pursuant to this License Agreement. Thereafter, all unsold inventory of Cookware
and Bakeware Products must either be (i) reworked to change its appearance or
(ii) destroyed. In no case may the inventory be "dumped" or sold below
manufactured costs. The sell-off period provided for under this Section 14.2
shall not apply unless Licensee maintains the insurance coverage required under
Article IX of this License Agreement throughout such period.
14.3 Effective immediately upon any termination prior to
expiration of the Term specified in Section 14.1 hereof, Licensee shall grant to
Licensor a royalty-free, paid-up, irrevocable, nonexclusive worldwide license
for all rights of Licensee in, to and under patents and copyrights owned by,
licensed to, or otherwise lawfully employed by, Licensee in the exercise of the
rights granted under this License Agreement to use and exploit the Intellectual
Property Rights in connection with Cookware and Bakeware Products.
54
C-23
ARTICLE XV
Dispute Resolution
15.1 Controversies between Licensor and Licensee shall be
resolved, to the extent possible, by informal meetings and discussions in good
faith between the parties. Such meetings and discussions shall, upon
commencement, occur daily for three consecutive days and for at least two hours
each day.
15.2 If a dispute between the parties cannot be resolved by
informal meetings and discussions within five days after commencement thereof,
either party to this License Agreement may elect to exercise its right to
require mediation at New York, NY of the dispute. During mediation, the parties
agree to negotiate in good faith as to the matter submitted to mediation. In
such event, the parties shall either: (i) appoint a single mediator if they can
agree on one mediator; or (ii) if the parties cannot agree on a single mediator,
each appoint one mediator, and the two mediators shall appoint a third mediator.
No mediator shall be an employee, officer, Board member, consultant, supplier or
customer, or otherwise affiliated with a party to this License Agreement and
shall be reasonably qualified to act as a mediator with respect to the
negotiation of agreements similar to this License Agreement. Each party shall
share equally in the out-of-pocket costs for mediation; provided that the
mediators shall be empowered to require one party to pay more than one half of
the expenses if the mediators determine that such party is not negotiating in
good faith in the mediation process. Each party agrees to comply with all
decisions, directions, instructions and procedures made or established in good
faith by the mediator(s). Any mediated resolution between the parties shall be
as consistent as is practical with
55
C-24
the existing agreements between the parties and shall not serve to modify, amend
or otherwise change their respective rights and obligations under such existing
agreements.
15.3 If the parties are unable to resolve a controversy
pursuant to Section 15.2 within fifteen (15) days after commencement of
mediation proceedings, the dispute shall be settled by binding arbitration, and
a corresponding judgment may be entered in a court of competent jurisdiction.
Arbitration of any dispute may be initiated by one party by sending a written
demand for arbitration to the other party. This demand will specify the matter
in dispute and request the appointment of an arbitration panel. The mailing of
process to Licensee at the address set forth in Section 16.3 will be deemed
personal service and accepted by Licensee for any arbitration or proceeding with
respect to this License Agreement. The arbitration panel will consist of one
arbitrator named by Licensor, one arbitrator named by Licensee and a third
arbitrator named by the two arbitrators so chosen. The arbitration will be
conducted in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. The situs of the arbitration will be in New York, New
York.
ARTICLE XVI
Miscellaneous
16.1 Amendment and Modification. Subject to applicable law,
this License Agreement may be amended, modified or supplemented only by a
written agreement signed by the parties hereto with respect to any of the terms
contained herein.
56
C-25
16.2 Waiver of Compliance; Consents. Any failure of the
Licensee, on the one hand, or the Licensor, on the other hand, to comply with
any obligation, covenant, agreement or condition herein may be waived by the
Licensee, or by the Licensor, respectively, only by a written instrument signed
by the party granting such waiver, but such waiver or failure to insist upon
strict compliance with such obligation, covenant, agreement or condition shall
no operate as a waiver of, or estoppel with respect to, any subsequent or other
failure. Whenever this License Agreement requires or permits consent by or on
behalf of any party hereto, such consent shall be given in writing in a manner
consistent with the requirements for a waiver of compliance as set forth in this
Section 16.2
16.3 Notices. All notices and other communications hereunder
shall be in writing and shall be deemed to have been duly given when delivered
in person, by courier or registered or certified mail (postage prepaid, return
receipt requested) to the respective parties at the following addresses (or at
such other address for a party as shall be specified by like notice):
if to the Licensee, to it at:
Meyer Marketing Co. Ltd.
382 Kwun Tong Road
Kwun Tong, Kowloon, Hong Kong
Attn: Mr. C.K. Wong
Group Financial Controller
57
C-26
with copies to:
Meyer Corporation
601 Gateway Boulevard
Suite 1150
South San Francisco, CA 94080
Attn.: Mr. Stanley K. Cheng, Chairman
with a copy to:
Baker & McKenzie
805 Third Avenue
29th Floor
New York, NY 10022
Attn.: Malcolm I. Ross, Esq.
Richard L. Nevins, Esq.
if to the Parent or the Licensor, to the Parent at:
Syratech Corporation
175 McClellan Highway
East Boston, MA 02128-9114
Attn.: Mr. Leonard Florence,
Chairman of the Board,
President and Chief Executive Officer
with copies to:
Faye A. Florence, Esq.
Vice President and General Counsel
Syratech Corporation
175 McClellan Highway
East Boston, MA 02128-9114
and
Paul, Weiss, Rifkind, Wharton & Garrison
1285 Avenue of the Americas
New York, NY 10019-6064
Attn.: James L. Purcell, Esq.
16.4 No Assignment. The Licensee may assign its rights herein,
in whole or in part, without the consent of the Licensor, provided that (i) the
assignee
58
C-27
shall be a financially sound Person in relation to the obligations being
assumed, (ii) such assignee shall assume all obligations of the Licensee
hereunder and agree to be bound by the terms and conditions hereof, and (iii)
Licensee shall at all times remain liable (as principal and not as surety) for
the payment and discharge of all obligations undertaken by Licensee in this
License Agreement.
16.5 Binding on Successors. This License Agreement will inure
to the benefit of and be binding upon Licensor, its successors and assigns; and
upon Licensee, and its successors and assigns permitted pursuant to Section
16.4.
16.6 Governing Law. This License Agreement shall be governed
by the laws of the State of New York.
16.7 Counterparts. This License Agreement may be executed in
one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
16.8 Entire Agreement. This License Agreement, including the
documents or instruments referred to herein, embodies the entire agreement and
understanding of the parties hereto in respect of the subject matter contained
herein. There are no restrictions, promised, representations, warranties,
covenants, or undertakings, other than those expressly set forth or referred to
herein. Except as expressly set forth herein, this License Agreement supersedes
all prior agreements and understandings between the parties with respect to such
subject matter.
59
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16.9 Remedies. Except as expressly provided herein, all
specific remedies provided for in this License Agreement are cumulative and are
not exclusive of one another or of any other remedies available in law or
equity.
16.10 Survival. The provisions of this License Agreement
relating to payment obligations, confidentiality, indemnification, and remedies,
shall survive the expiration or termination of this License Agreement.
16.11 Severability. If any provision of this License Agreement
is declared by a court of competent jurisdiction to be invalid, illegal,
unenforceable, or void then both parties shall be relieved of all obligations
arising under such provision, but only to the extent that such provision is
invalid, illegal, unenforceable, or void. If the remainder of this License
Agreement is capable of substantial performance, then each provision not so
affected shall be enforced to the extent permitted by law.
16.12 Relationship. This License Agreement does not provide
for a joint venture, partnership, agency or employment relationship between
Licensor and Licensee. The Licensee is not the agent or legal representative of
Licensor for any purpose whatsoever. The Licensee is not granted any right of
authority to assume or to create any obligation or responsibility, express or
implied, on behalf of or in the name of the Licensor or to bind Licensor in any
manner or thing whatsoever.
IN WITNESS WHEREOF, the parties hereto have caused this
License Agreement to be executed as of the day and year first above written.
60
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FARBERWARE INC. MEYER MARKETING CO. LTD.
By: _____________________________ By: _____________________________
Name: Leonard Florence Name:
Title: Chairman and President Title:
61
SCHEDULE 4.13
INTELLECTUAL PROPERTY
PATENTS EXHIBIT D
==================================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
==================================================================================================================
ELECTRICAL WATER FARBERWARE, INC. USA 796951 4165681
HEATER AND DISPENSER
- ------------------------------------------------------------------------------------------------------------------
FOOD PROCESSOR FARBERWARE, INC. USA 790509 4113188
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. USA 900361 4147925
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
TEMPERATURE CONTROL FARBERWARE, INC. USA 369969 4458140
APPARATUS FOR
CONVECTION OVEN
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. USA 403828 4511077
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
COOKWARE BOTTOM FARBERWARE, INC. USA 602308 4552284
WALL STRUCTURE
- ------------------------------------------------------------------------------------------------------------------
METHOD OF MAKING FARBERWARE, INC. USA 723245 4613070
COOKWARE
- ------------------------------------------------------------------------------------------------------------------
FOOD COOKING FARBERWARE, INC. USA 544025 RE31833
APPARATUS
- ------------------------------------------------------------------------------------------------------------------
ELECTRIC CAN OPENER FARBERWARE, INC. USA 850369 D304286
WITH VERTICAL HEIGHT
ADJUSTMENT
- ------------------------------------------------------------------------------------------------------------------
COMBINED COOKING AND FARBERWARE, INC. USA 847899 D305086
STORAGE CONTAINER
- ------------------------------------------------------------------------------------------------------------------
COMBINED COOKING AND FARBERWARE, INC. USA 847896 D305393
STORAGE CONTAINER
- ------------------------------------------------------------------------------------------------------------------
MICROWAVE BROWNING FARBERWARE, INC. USA 848176 4701585
COOKWARE
- ------------------------------------------------------------------------------------------------------------------
HAND HELD CAN OPENER FARBERWARE, INC. USA 922507 D301432
- ------------------------------------------------------------------------------------------------------------------
DRIP COFFEE MAKER FOR FARBERWARE, INC. USA 310447 4999466
USE WITHIN A
MICROWAVE OVEN
- ------------------------------------------------------------------------------------------------------------------
DRIP COFFEE MAKER FOR FARBERWARE, INC. USA 638914 5491322
USE WITHIN A
MICROWAVE OVEN
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. USA 298584 D325844
- ------------------------------------------------------------------------------------------------------------------
COFFEE BREWER FARBERWARE, INC. USA 07/369547 D352418
- -------------------------------------------------------------------------------------------------------------------------
62
D-2
==================================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
==================================================================================================================
- ------------------------------------------------------------------------------------------------------------------
MICROWAVE DRIP COFFEE FARBERWARE, INC. USA 07/399736 5434392
MAKER
- ------------------------------------------------------------------------------------------------------------------
ELECTRIC PEELER FARBERWARE, INC. USA 07/886443 D344429
- ------------------------------------------------------------------------------------------------------------------
ROTARY COOKING DEVICE FARBERWARE, INC. USA 336998 4450758
- ------------------------------------------------------------------------------------------------------------------
ELECTRIC BARBECUE FARBERWARE, INC. USA 543179 D326030
GRILL
- ------------------------------------------------------------------------------------------------------------------
SLOW COOKER FARBERWARE, INC. USA 07/837692 -
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. ASTL 10545/83 539709
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
METHOD OF MAKING FARBERWARE, INC. ASTL 56033/86 561385
COOKWARE
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. ASTL 2328/89 108919
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER ATRA A2578/83 395521
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. BELGIUM 194824 875840
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. BELGIUM 211270 897418
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
ELECTRICAL WATER FARBERWARE, INC. CANADA 297305 1089523
HEATER AND DISPENSER
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. CANADA 312050 1071280
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
TEMPERATURE CONTROL FARBERWARE, INC. CANADA 387563 1167135
APPARATUS FOR
CONVECTION OVEN
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. CANADA 421812 1200705
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
COOKING MACHINE FARBERWARE, INC. CANADA 4-05-84-8 54804
- ------------------------------------------------------------------------------------------------------------------
ELECTRIC CAN OPENER FARBERWARE, INC. CANADA 3-10-86-4 59782
WITH VERTICAL HEIGHT
ADJUSTMENT
- ------------------------------------------------------------------------------------------------------------------
HAND HELD CAN OPENER FARBERWARE, INC. CANADA 8-04-87-6 60902
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. CANADA 14-07-89- 65031
11
- ------------------------------------------------------------------------------------------------------------------
63
D-3
==================================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
==================================================================================================================
MICROWAVE DRIP COFFEE FARBERWARE, INC. CANADA 2009862-7 -
MAKER
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. CHINA 89301508. 4331
3
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. DENMARK 546/83 156941
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
MICROWAVE DRIP COFFEE FARBERWARE, INC. EPC 90300670. -
MAKER 8
- ------------------------------------------------------------------------------------------------------------------
OVEN FARBERWARE, INC. FRANCE 112708 72659
- ------------------------------------------------------------------------------------------------------------------
FOOD PROCESSOR FARBERWARE, INC. FRANCE PV40557 40557
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. FRANCE 8301484 8301484
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
HAND HELD CAN OPENER FARBERWARE, INC. FRANCE 872100 872100
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. FRANCE 894602 894602
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. FRANCE 894603 894603
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND KIDDE CONSUMER GBRJ 7838610 2022970
PARTITION PLATE HEATER DURABLES
ASSEMBLY THEREFOR CORPORATION
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER GBRJ 8301169 2124474
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
HAND-HELD CAN OPENER FARBERWARE, INC. GBRJ 1041372 1041372
- ------------------------------------------------------------------------------------------------------------------
BEVERAGE MAKER FARBERWARE, INC. GBRJ 1060864 1060864
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. GERW P3327476. P332747
OF MAKING THE SAME 2-45 6.2
- ------------------------------------------------------------------------------------------------------------------
ELECTRIC CAN OPENER KIDDE CONSUMER GERW URA1290/ MR2662
WITH VERTICAL HEIGHT DURABLES 86 2
ADJUSTMENT CORPORATION
- ------------------------------------------------------------------------------------------------------------------
HAND HELD CAN OPENER KIDDE CONSUMER GERW URA556/8 MR2759
DURABLES 7 1
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS KIDDE CONSUMER GERW M8904879 M890487
DURABLES .2 9
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. GREC 72052 79598
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
64
D-4
==================================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
==================================================================================================================
PERCOLATOR AND KIDDE CONSUMER HONG - 915/85
PARTITION PLATE HEATER DURABLES
ASSEMBLY CORPORATION
- ------------------------------------------------------------------------------------------------------------------
CONVECTION OVEN WITH KIDDE CONSUMER HONG - 869/1985
A TEMPERATURE DURABLES
CONTROL APPARATUS CORPORATION
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER HONG - 407/86
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
TEMPERATURE CONTROL FARBERWARE, INC. ISRAEL 64117 64117
APPARATUS FOR
CONVECTION OVEN
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. ISRAEL 15181 15181
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. ITALY 22066A/7 1192350
PARTITION PLATE HEATER 9
ASSEMBLY
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. ITALY 22281A/8 1170183
OF MAKING THE SAME 3
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. JAPAN 32421/79 1093333
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER JAPAN 134514/83 1507157
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
MICROWAVE DRIP COFFEE FARBERWARE, INC. JAPAN 32272/90 -
MAKER
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. KORS 9631/1989 107426
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER LUXE 84938 84938
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. NEWZ 22920 22920
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. PORT 68945 68945
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
METHOD OF MAKING FARBERWARE, INC. SPAIN 554008 554008
COOKWARE
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. SPAIN 524584 524584
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
65
D-5
==================================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
==================================================================================================================
BREWING APPARATUS FARBERWARE, INC. SPAIN 119534 119534
- ------------------------------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. SWEDEN PAT79036 PUB430
PARTITION PLATE HEATER 36 649
ASSEMBLY THEREFOR
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. SWEDEN PAT83041 PUB456
OF MAKING THE SAME 91-3 895
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD KIDDE CONSUMER SWIT 4173/83-0 661195
OF MAKING THE SAME DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. TAIWAN 73102768 NI-25368
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------------------------
METHOD OF MAKING FARBERWARE, INC. TAIWAN 73102768 171457
COOKWARE A01
==================================================================================================================
TRADEMARKS
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
TURBO-OVEN FARBERWARE, USA 992831 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 601591 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 806655 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 804130 -
INC.
- -------------------------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, USA 754975 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 1122167 -
INC.
CONVECTION FARBERWARE, USA 1157193 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
ADVANTAGE FARBERWARE, USA 1226680 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 1410374 -
INC.
- -------------------------------------------------------------------------------------------------------------
66
D-6
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERWARE FARBERWARE, USA 1447147 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA - 74/462123
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA 1932199 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, USA 1630891 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, USA 1119296 -
INC.
- -------------------------------------------------------------------------------------------------------------
ONLY FARBERWARE, USA 1606452 -
FARBERWARE INC.
CAN MAKE IT
- -------------------------------------------------------------------------------------------------------------
MILLENNIUM FARBERWARE, USA - 74/051501
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENNIUM FARBERWARE, USA 1819460 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENNIUM FARBERWARE, USA 1898138 -
INC.
- -------------------------------------------------------------------------------------------------------------
NEVER-STICK FARBERWARE, USA 1743201 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, USA - 74/071500
CHANGES NON- INC.
STICK
COOKWARE INTO
NEVER-STICK
COOK-[WARE]
- -------------------------------------------------------------------------------------------------------------
ICE TEA EXPRESS FARBERWARE, USA 1773640 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBER PEEL FARBERWARE, USA 1897955 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERSEAL FARBERWARE, USA 1783231 -
INC.
- -------------------------------------------------------------------------------------------------------------
NUTRIMASTER FARBERWARE, USA 1819494 -
INC.
- -------------------------------------------------------------------------------------------------------------
CLASSIC FARBERWARE, USA 1905011 -
SERVINGS INC.
- -------------------------------------------------------------------------------------------------------------
67
D-7
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
DECATHLON FARBERWARE, USA 1924653 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBER FARBERWARE, USA 1897200 -
INC.
- -------------------------------------------------------------------------------------------------------------
CLASSICOTE FARBERWARE, USA - 74/478730
INC.
- -------------------------------------------------------------------------------------------------------------
SET BUILDERS FARBERWARE, USA 1900692 -
INC.
- -------------------------------------------------------------------------------------------------------------
BACKSAVER FARBERWARE, USA 1949554 -
INC.
- -------------------------------------------------------------------------------------------------------------
AMERICAN FARBERWARE, USA - 74/525838
ESSENTIALS INC.
- -------------------------------------------------------------------------------------------------------------
NECESSITIES FARBERWARE, USA - 74/615755
INC.
- -------------------------------------------------------------------------------------------------------------
CLASSIC SERIES FARBERWARE, USA - 74/535281
INC.
- -------------------------------------------------------------------------------------------------------------
PASTAPRO FARBERWARE, USA - 74/535282
INC.
- -------------------------------------------------------------------------------------------------------------
CHAR-B-Q FARBERWARE, USA 613163 -
(STYLIZED) INC.
- -------------------------------------------------------------------------------------------------------------
ELECTRIC CHAR- FARBERWARE, USA 982893 -
B-QUE (STYLIZED INC.
& DESIGN
(ELECTRICAL
PLUG)
- -------------------------------------------------------------------------------------------------------------
CONTEMPRA FARBERWARE, USA 1673371 -
INC.
- -------------------------------------------------------------------------------------------------------------
DESIGN (ROUND FARBERWARE, USA 1706523 -
ELECTRIC GRILL) INC.
- -------------------------------------------------------------------------------------------------------------
DESIGN FARBERWARE, USA 1725370 -
(RECTANGULAR INC.
ELECTRIC GRILL)
- -------------------------------------------------------------------------------------------------------------
DESIGN FARBERWARE, USA 1734617 -
(RECTANGULAR INC.
GRILL)
- -------------------------------------------------------------------------------------------------------------
CHAR-B-Q FARBERWARE, USA 1827615 -
(STYLIZED) INC.
- -------------------------------------------------------------------------------------------------------------
68
D-8
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
HEALTHY FARBERWARE, USA 1851074 -
GOURMET (THE) INC.
- -------------------------------------------------------------------------------------------------------------
HEALTHY FARBERWARE, USA - 74/433708
GOURMET (THE) INC.
BY CONTEMPRA
& DESIGN (CHEF'S
HEAD W/C)
- -------------------------------------------------------------------------------------------------------------
THERMAL FARBERWARE, USA - 74/615769
INTELLIGENCE INC.
- -------------------------------------------------------------------------------------------------------------
FIRE MARSHALL FARBERWARE, USA - 74/594837
INC.
- -------------------------------------------------------------------------------------------------------------
ALL FIRE FARBERWARE, USA - 74/603251
INC.
- -------------------------------------------------------------------------------------------------------------
GOURMETRIX FARBERWARE, USA - 74/665939
(STYLIZED) INC.
- -------------------------------------------------------------------------------------------------------------
THERMALLY FARBERWARE, USA - 74/665938
INTELLIGENT INC.
COOKWARE
- -------------------------------------------------------------------------------------------------------------
MULTI-GRATER FARBERWARE, USA - 74/666193
INC.
- -------------------------------------------------------------------------------------------------------------
CLASSICLEAN FARBERWARE, USA - 74/686298
INC.
- -------------------------------------------------------------------------------------------------------------
NEW DIMENSIONS FARBERWARE, USA - 75/026506
INC.
- -------------------------------------------------------------------------------------------------------------
ALUMINAIRE FARBERWARE, USA - 75/032838
INC.
- -------------------------------------------------------------------------------------------------------------
VANGUARD 1000 FARBERWARE, USA - 75/032839
INC.
- -------------------------------------------------------------------------------------------------------------
CONTEMPORARY FARBERWARE, USA - 75/032840
COLONIAL INC.
COOKWARE
- -------------------------------------------------------------------------------------------------------------
COLONIAL FARBERWARE, USA - 75/032841
COOKWARE INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, ARGENTINA 1109864 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ARGENTINA 1107485 -
INC.
- -------------------------------------------------------------------------------------------------------------
69
D-9
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERWARE FARBERWARE, ARGENTINA 1104065 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA A214699 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA B169253 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA B169254 -
INC.
- -------------------------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, AUSTRALIA A179077 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA B399468 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA B399467 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRALIA B404684 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, AUSTRALIA A553506 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, AUSTRALIA A553057 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, AUSTRALIA A605485 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERPEEL FARBERWARE, AUSTRALIA A572702 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERSEAL FARBERWARE, AUSTRALIA A572703 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, AUSTRIA 105517 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, BENELUX 515303 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, BENELUX 395531 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, BENELUX 472044 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, BENELUX 497759 -
INC.
- -------------------------------------------------------------------------------------------------------------
70
D-10
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
MILLENIUM FARBERWARE, BENELUX 557765 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, BRAZIL 811438325 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, BRAZIL 811438333 -
INC.
- -------------------------------------------------------------------------------------------------------------
STAY CLEAN FARBERWARE, CANADA 204245 -
ACTION & INC.
DESIGN
- -------------------------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, CANADA TMA133696 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, CANADA 199/50716 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, CANADA 418801 -
MILLENIUM INC.
- -------------------------------------------------------------------------------------------------------------
FARBERPEEL FARBERWARE, CANADA 409873 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERSEAL FARBERWARE, CANADA 409872 -
INC.
- -------------------------------------------------------------------------------------------------------------
THERMAL FARBERWARE, CANADA - 796,549
INTELLIGENCE INC.
- -------------------------------------------------------------------------------------------------------------
CLASSICLEAN FARBERWARE, CANADA - 798,704
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, DENMARK 1579-1983 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, DENMARK 1939-1985 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, FINLAND 92207 -
INC.
- -------------------------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, FRANCE 1460223 -
INC.
- -------------------------------------------------------------------------------------------------------------
ALL-AROUND FARBERWARE, FRANCE 1708808 -
GRIDDLE INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, FRANCE 1193445 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, FRANCE 1249025 -
INC.
- -------------------------------------------------------------------------------------------------------------
71
D-11
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
MICROBREW FARBERWARE, FRANCE 1548249 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, FRANCE 1678333 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT 876697 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT 876698 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, GREAT BRIT B1168353 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT B1205914 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT B1205915 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT B1485061 -
MILLENIUM INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREAT BRIT B1485062 -
MILLENIUM INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, GERMANY 2029796 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, W GERMANY 674013 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, W GERMANY 1045089 -
CONVECTION INC.
TURBO-OVEN
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, W GERMANY 1065973 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, W GERMANY 1164528 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREECE 77282 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, GREECE 76060 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ISRAEL 23462 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ISRAEL 57748 -
INC.
- -------------------------------------------------------------------------------------------------------------
72
D-12
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERWARE FARBERWARE, ISRAEL 57840 -
INC.
- -------------------------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, ITALY 434663 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, ITALY 402068 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ITALY 417819 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, ITALY 610847 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, JAPAN 2023691 -
INC.
- -------------------------------------------------------------------------------------------------------------
ADVANTAGE FARBERWARE, JAPAN - 06/119132
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, JAPAN 1933794 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, JAPAN 2529987 -
(KATAKANA) INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, JAPAN 2529988 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, JAPAN 2529989 -
(KATAKANA) INC.
- -------------------------------------------------------------------------------------------------------------
FARBERPEEL FARBERWARE, JAPAN 2691276 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERSEAL FARBERWARE, JAPAN 2691277 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, S. KOREA 90152 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, MALAWI 203/83 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, MALAWI 204/83 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, MEXICO 442090 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, MEXICO 425715 -
INC.
- -------------------------------------------------------------------------------------------------------------
73
D-13
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERPEEL FARBERWARE, MEXICO 429889 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERSEAL FARBERWARE, MEXICO 425167 -
INC.
- -------------------------------------------------------------------------------------------------------------
GOURMETRIX FARBERWARE, MEXICO - N/A
INC.
- -------------------------------------------------------------------------------------------------------------
THERMAL FARBERWARE, MEXICO - 248446
INTELLIGENCE INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NEW ZEALAND B69536 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NEW ZEALAND B69535 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NEW ZEALAND 149651 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NEW ZEALAND 149652 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NEW ZEALAND 149653 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, NORWAY 118836 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PERU - 286864
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PERU - 286865
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PERU - 286866
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PORTUGAL 224160 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PORTUGAL 224161 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PORTUGAL 224162 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, PORTUGAL 224163 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, S. AFRICA B83/7484 -
INC.
- -------------------------------------------------------------------------------------------------------------
74
D-14
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERWARE FARBERWARE, S. AFRICA B83/7485 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, S. AFRICA B83/8346 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, SPAIN 452855 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, SPAIN 995517 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, SPAIN 1054534 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, SPAIN 1647799 -
INC.
- -------------------------------------------------------------------------------------------------------------
MILLENIUM FARBERWARE, SPAIN 1647800 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, SWEDEN 185270 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, SWEDEN 191705 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, SWEDEN 225353 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, SWITZERLAND 319496 -
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, SWITZERLAND 328759 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, SWITZERLAND 375406 -
INC.
- -------------------------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, TAIWAN - 84037400
TURBO-OVEN INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, TAIWAN 687266 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, THAILAND 148181 -
INC.
- -------------------------------------------------------------------------------------------------------------
MICROBREW FARBERWARE, THAILAND 148556 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, VENEZUELA 121465-F -
INC.
- -------------------------------------------------------------------------------------------------------------
75
D-15
=============================================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================================
FARBERWARE FARBERWARE, VENEZUELA 121938 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, VENEZUELA 121466-F -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, VENEZUELA 121467-F -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, VENEZUELA 121939 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, VENEZUELA 121468-F -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ZIMBABWE B560/83 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ZIMBABWE B561/83 -
INC.
- -------------------------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, ZIMBABWE B111/84 -
INC.
=============================================================================================================
COPYRIGHTS
===========================================================================================================
Name of Work Owner Registration Number
===========================================================================================================
ECB-40 grease tray Farberware, Inc. VAu 198-191
- -----------------------------------------------------------------------------------------------------------
ECB-40 reflector Farberware, Inc. VAu 198-194
- -----------------------------------------------------------------------------------------------------------
Small char-b-q/ Farberware, Inc. VAu 198-196
reflector
- -----------------------------------------------------------------------------------------------------------
ECB-40 Contempra grill Farberware, Inc. VAu 198-185
- -----------------------------------------------------------------------------------------------------------
Contempra (rectangular) Farberware, Inc. VAu 198-186
stoneware
- -----------------------------------------------------------------------------------------------------------
Char-b-que grease tray Farberware, Inc. VAu 198-188
- -----------------------------------------------------------------------------------------------------------
Char-b-que reflector Farberware, Inc. VAu 198-187
- -----------------------------------------------------------------------------------------------------------
ECBO040 Grill for ceramic Farberware, Inc. VAu 198-189
cooker
- -----------------------------------------------------------------------------------------------------------
Char-b-que grill Farberware, Inc. VAu 198-193
- -----------------------------------------------------------------------------------------------------------
Char-b-que bowl Farberware, Inc. VAu 198-197
- -----------------------------------------------------------------------------------------------------------
Heating element Farberware, Inc. VAu 198-190
- -----------------------------------------------------------------------------------------------------------
76
D-16
===========================================================================================================
Name of Work Owner Registration Number
===========================================================================================================
25016 Reflector Farberware, Inc. VAu 198-198
- -----------------------------------------------------------------------------------------------------------
25027 Grease tray Farberware, Inc. VAu 198-195
- -----------------------------------------------------------------------------------------------------------
Char-b-que heat element support Farberware, Inc. VAu 198-192
- -----------------------------------------------------------------------------------------------------------
Ceramic char-b-que grill Farberware, Inc. VAu 183-512
===========================================================================================================
77
D-17
LICENSES
1. License and Distribution Agreement dated September 29, 1995 by
and between Farberware, Inc. and Meyer Marketing Company, Ltd.
relating to the name "Farberware"
2. License and Distribution Agreement dated January 7, 1993
between Farberware, Inc. and Frye International Corporation
relating to the name "Farberware"
3. License Agreement dated September 2, 1989 by and between
Farberware, Inc. and Excel Cutlery, Inc. relating to the name
"Farberware"
4. License Agreement dated December 14, 1989 by and between
Farberware, Inc. and Lifetime Cutlery Corp. relating to the
name "Farberware"
5. Dinnerware License Agreement between Farberware, Inc. and
Excel Cutlery, Inc. dated July 15, 1995
6. Flatware License Agreement by and between Farberware, Inc. and
Excel Cutlery, Inc. dated July 15, 1995
7. Glass Gift/ServeWare License Agreement by and between
Farberware, Inc. and Excel Cutlery, Inc. dated July 15, 1995
8. Glass Beverageware License Agreement by and between
Farberware, Inc. and Excel Cutlery, Inc. dated July 15, 1995
9. Agreement between Farberware, Inc. and Anants Group Ltd. dated
September 14, 1988 relating to royalty commissions
10. License Agreement by and between Farberware, Inc. and Creative
Designs International Ltd. dated January 1, 1994 relating to
the name "Farberware"
78
EXHIBIT F
ASSIGNMENT OF LICENSE AND DISTRIBUTION AGREEMENT
WHEREAS, on or about September 29, 1995 Farberware Inc., a
Delaware corporation now known as Bruckner Manufacturing Corp. (the "Company")
and Meyer Marketing Company Ltd., a British Virgin Islands corporation
("Assignee") entered into a License and Distribution Agreement with respect to
aluminum non-stick cookware encompassing gauges of from 4 to 10 and colored
exteriors (the "Meyer Marketing License") and a supplemental letter with respect
to twelve gauge aluminum products and polished aluminum products (the "Side
Letter"); and
WHEREAS, on April 2 1996 Far-B Acquisition Corp., a Delaware
corporation now known as Farberware Inc. ("Assignor") acquired all of the
interests of the Company in and to the Meyer Marketing License and the Side
Letter pursuant to an Asset Purchase Agreement dated February 2, 1996; and
WHEREAS, on May 3, 1996, Syratech Corporation, a Delaware
corporation that is the parent of the Assignor, and the Assignor entered into an
agreement (the "May 1996 Agreement") with the Assignee pursuant to which the
Assignor agreed, inter alia, (i) to grant a long-term license (the "1996
License") to the Assignee which encompasses Cookware and Bakeware Products
generally and therefore includes the right to manufacture market and distribute
the products that are the subject of the Side Letter; and (ii) to assign to the
Assignee the Meyer Marketing License; and
79
F-2
WHEREAS, all conditions to the obligations of the Assignor to
grant the 1996 License and effect the assignment to which reference is made in
the next preceding recital have been met;
NOW THEREFORE, in consideration of the transactions described
in the May 1996 Agreement and other good and valuable consideration each to the
other in hand given and the receipt and sufficiency of which are hereby
acknowledged, the undersigned parties hereby agree as follows:
1. The Assignor hereby assigns to the Assignee all of the
right title and interest of the Assignee in and to the Meyer Marketing License,
intending by such assignment irrevocably and forever to transfer to and vest in
the Assignee all right, title and interest of the Assignor and the Company (as
the Assignor's predecessor-in-interest) in and to the Meyer Marketing License;
provided, however, that this assignment shall not be deemed to effect an
assignment of, or cancellation of the obligation to account for and pay, any
unpaid royalties that shall have accrued prior to the effective date of this
assignment.
80
2. The Side Letter is hereby canceled effective immediately
and shall be of no further force or effect.
IN WITNESS WHEREOF, each of the parties has caused this
Agreement to be executed by its duly authorized officer as of this day of
, 1996.
FARBERWARE INC.
(formerly Far-B Acquisition Corp.)
By: ___________________________________
Name:
Title:
MEYER MARKETING COMPANY LTD.
By: ___________________________________
Name:
Title:
81
EXHIBIT G
UNCONDITIONAL GUARANTY
Meyer Marketing Company, Ltd., a British Virgin Islands
corporation ("MMC"), is simultaneously entering into an Agreement (the
"Agreement") with Syratech Corporation, a Delaware corporation, and Farberware
Inc., a Delaware corporation ("Farberware"), pursuant to which MMC will acquire
certain long term rights to use the Farberware name and trademark and certain
other intellectual property rights in connection with the manufacture, marketing
and sale of certain specified products. Farberware would not enter into the
Agreement without the unconditional guarantee by Meyer Corporation ("Guarantor")
of each and every obligation of MMC thereunder.
Guarantor acknowledges that Guarantor is fully familiar with
the terms of the Agreement and has carefully reviewed (i) the Agreement and (ii)
the other documents to be executed in connection with the closing under the
Agreement (collectively, the "Transaction Documents"). Guarantor acknowledges
that the Agreement and the Transaction Documents contain and express the entire
understanding of the parties with respect to the subject matter thereof.
NOW, THEREFORE, in consideration of Farberware entering into
the Agreement, and as an inducement for it to do so, Guarantor hereby
unconditionally guarantees the full payment and performance by MMC of each and
every obligation of MMC under and pursuant to the terms of the Agreement and the
Transaction Documents. Further, Guarantor promises to pay to Farberware, or
order, in lawful money of the United States of America, all sums owing and to
become owing under the Agreement and unconditionally guarantees and promises to
pay and perform all obligations of MMC under the Agreement and the Transaction
Documents, all when the same become due or are to be performed in accordance
with the provisions of the Agreement and the Transaction Documents. This is a
guaranty of payment (as distinguished from a guaranty of collection) of every
dollar of such indebtedness and of the performance of every one of such
obligations, whether the indebtedness or obligations are otherwise guaranteed or
secured or not.
The obligations of the Guarantor hereunder are independent of
the obligations of MMC, and a separate action or actions may be brought and
prosecuted against the Guarantor, whether action is brought against MMC or
whether MMC is joined in any action or actions.
Guarantor authorizes Farberware, from time to time. without
notice or demand, and without affecting Guarantor's liability hereunder, (a) to
renew, extend, accelerate, or otherwise modify or amend the Agreement or any of
the Transaction
82
G-2
Documents or change the time or terms for compliance with the provisions
thereof; (b) to receive and hold security for the payment and performance of
MMC's obligations and/or this Guaranty, and to exchange, enforce, waive, and
release any such security; (c) to apply such security and direct the order or
manner of sale thereof as Farberware in its discretion may determine; and (d) to
release or substitute MMC or Guarantor. Farberware may, without notice assign
this Guaranty in whole or in part.
Guarantor waives any right to require Farberware to (a)
proceed against MMC or any other person; (b) proceed against or exhaust any
collateral; or (c) pursue any other remedy in Farberware's power whatsoever.
Guarantor waives any defense arising by reason of any disability or other
defense of the Guarantor or of MMC or by reason of the cessation from any cause
whatsoever of the liability of MMC. Until all matured but undischarged
obligations under the Agreement and the Transaction Documents that may now or
hereafter exist have been fully satisfied, Guarantor shall not have any right of
subrogation or contribution and Guarantor waives the right to enforce any remedy
which Guarantor now has or may hereafter have against Farberware or against MMC
and waives any benefit of and any right to participate in any collateral or any
security whatsoever now or hereafter held by Farberware.
Guarantor waives all presentments, demands for performance,
notices of nonperformance, protests, notices of protests, notices of dishonor,
and notices of acceptance of this Guaranty and of the existence, creation, or
incurring of the indebtedness covered by this Guaranty.
Any indebtedness of MMC now or hereafter held by Guarantor is
hereby subordinated to any matured but undischarged obligations of MMC to
Farberware that may now or hereafter exist, and, if Farberware so requests, such
indebtedness of MMC to Guarantor shall be collected, enforced and received by
Guarantor as trustee for Farberware and be paid over to Farberware on account of
any unpaid obligations owing by MMC to Farberware, but without reducing or
affecting in any manner the liability of Guarantor hereunder.
Guarantor agrees to pay reasonable attorneys' and paralegal'
fees, including, without limitation, those incurred in any trial, appeal or
review, and all other costs and expenses which may be incurred by Farberware in
the enforcement of
83
G-3
this Guaranty. This Guaranty shall be governed by and construed in accordance
with the laws of the State of New York.
DATED this 3 day of May, 1996.
MEYER CORPORATION
By ______________________________
Print Name: Norman J. Schoenfeld
and Title Executive Vice
President
84
SCHEDULE I
Definitions, Interpretation and Construction
1.1 Definitions. As used in the License Agreement (as
hereinafter defined) the following terms have the following meanings:
"Agreement" means the Agreement dated May 3, 1996, by
and among Syratech Corporation ("Parent"), Licensor and Licensee pursuant to
which the License Agreement is being executed and delivered.
"Asset Purchase Agreement" means the Asset Purchase
Agreement, dated February 2, 1996, by and between the Company, Licensor, Parent
and LHC pursuant to which Licensor acquired, inter alia, the Intellectual
Property Rights, a portion of which are being licensed to the Licensee pursuant
to the License Agreement.
"Company" means Bruckner Manufacturing Corp., a
Delaware corporation formerly known as Farberware Inc.
"Cookware and Bakeware Products" means non- electric
pots, pans, grills (other than outdoor grills and grills of the types pictured
on pages 44 and 45 of LHC's Current Farberware Catalogue), griddles, kettles
(but only those made of stainless steel, regular aluminum or anodized aluminum),
woks, rotisseries (other than electrified or outdoor rotisseries), steamers and
other vessels, containers, receptacles and devices (other than coffee urns) of
all kinds and materials (including glass and ceramic cookware but EXCLUDING
glass and ceramic bakeware or other food preparation items similar to those
marketed, or generally known, as "Pyrex" products and ALSO EXCLUDING disposable
cookware and bakeware products made from aluminum foil and/or similar materials)
for use in the preparation of baked, barbecued, boiled, fried, grilled, roasted,
steamed and other cooked foods at home (as distinguished from the commercial,
industrial and/or institutional preparation thereof). Notwithstanding the
foregoing limitations of the definition of "Cookware and Bakeware Products,"
such definition shall include commercial, industrial and institutional size
pots, pans (including baking pans) and roasters and shall also include the
non-electrified bodies of those frying pans, griddles and woks heretofore
electrified by the Company and marketed by the Company as electric frying pans,
electric griddles and electric woks; but nothing in this definition shall permit
the Licensee to electrify any of such items or to market any electric frying
pans, electric griddles, electric woks or any other Electric Products under the
Farberware name and trademark.
85
I-2
"Electric Products Rights" means rights to use and
exploit the Farberware name and trademark in connection with the sourcing,
manufacture and/or distribution of "Electric Products," i.e., electrical items
of all kinds (whether for home, commercial, industrial and/or institutional use
and whether or not now invented or sold under the Farberware name), including,
by way of illustration and without limitation, electric coffee makers, espresso
machines, grinders of all kinds, juicers, mixers, blenders, food processors,
deep fryers, corn poppers, toasters, toaster ovens, convection ovens, microwave
ovens, hot plates, waffle and sandwich makers, bread makers, grills, griddles,
frying pans, woks, warmers, can openers and other small electrical appliances,
electric grooming aids, electric cleaning devices and other electric products of
all kinds, excluding, however, electric pepper mills and major consumer
appliances, such as refrigerators, clothes washers, clothes dryers, dishwashers
and electric ranges.
"Existing Farberware Licenses" means Farberware
Licenses heretofore granted by the Company (or any predecessor of the Company)
that are valid and subsisting and includes, without limitation, the license
agreements identified on the schedule annexed to the License Agreement as
Schedule III.
"Farberware Business" means and includes
manufacturing, importing, sourcing, marketing and distributing Cookware and
Bakeware Products and certain electric products and the ownership and licensing
of certain intellectual Property Rights.
"Farberware Licenses" means licenses to manufacture
(and/or cause to be manufactured) and/or market products under and using the
"Farberware" name and trademark and includes, without limitation, the Existing
Farberware Licenses.
"Intellectual Property Rights" means all of the
rights of the Licensor (which includes all of the rights owned by the Company
and its subsidiaries immediately prior to the Closing under the Asset Purchase
Agreement) in, and with respect to, the trademarks, trade names, service marks,
copyrights (including applications for, rights to acquire and other rights with
respect to, any of the foregoing), licenses, technology, know-how, trade
secrets, franchises, authorizations (and all documentation relating to the fore
going) of the Licensor (which includes all of the rights that were owned by the
Company and its subsidiaries immediately prior to the Closing under the Asset
Purchase Agreement) used or heretofore proposed to be used by the Licensor or
its predecessors in interest (including the
86
I-3
Company and its subsidiaries) in connection with the Farberware Business,
including, without limitation, (i) the name "Farberware" and (ii) the patents,
trademarks and copy rights included in the Sale Assets to the extent that such
patents, trademarks and copyrights were effectively conveyed to the Licensor on
the Purchase Date.
"Inventory" means all quantities of finished goods
inventories (including wrapped goods) of Cookware and Bakeware Products, but
shall not include raw materials or work in process.
"License Agreement" means the License Agreement,
dated as of , 1996 by and between Farberware Inc. (formerly
known as Far-B Acquisition Corp.) ("Licensor") and Meyer Marketing Co. Ltd.
("Licensee") to which this Exhibit A is annexed.
"Licensed Intellectual Property Rights" means the
Intellectual Property Rights (including trade names, trademarks, service marks,
patents and copyrights) that are being licensed to the Licensee pursuant to the
License Agreement.
"Licensee" has the meaning ascribed to that term in
the definition of the License Agreement.
"Licensor" has the meaning ascribed to that term in
the definition of the License Agreement.
"LHC" means Lifetime Hoan Corporation, a Delaware
corporation.
"LHC's Current Farberware Catalogue" means the
catalogue bearing the front cover inscription "FARBERWARE(R) Cutlery Kitchen
Tools Gadgets Cutting Boards BBQ Accessories," consisting of a front cover, a
back cover, four pages (marked i through iv) listing style numbers and product
descriptions, and fifty pages (numbered 2 through 51) of product pictures, and
having on the back cover thereof the following information inter alia: Lifetime
Hoan Corporation, Westbury, NY 11590 CAT. NO. ZYFW2CAT, which catalogue is
currently being circulated by LHC.
"Lifetime License" means the License Agreement dated
December 14, 1989 between the Company and Lifetime Cutlery Corp., as
supplemented by letter, dated November 16, 1990, on Farberware Inc. stationery,
addressed to Mr. Jeff Siegel and signed by Kevin O'Malley, as the same may be
amended or replaced pursuant to the Agreement, dated as of February 2, 1996, by
and among Parent, LHC and Seller.
"Marks" means trademarks and service marks.
87
I-4
"Meyer Marketing License" means the License and
Distribution Agreement dated September 29, 1995 between the Company and Meyer
Marketing Company, Ltd., as amended by side letter of even date therewith.
"Parent" has the meaning ascribed to it in the
definition of Agreement
"Person" means any individual, corporation,
partnership, firm, joint venture, association, joint-stock company, trust,
unincorporated organization, governmental body or other entity.
"Purchase Date" means April 2, 1996, i.e., the date
on which the purchase of the Sale Assets from the Company was completed.
"Sale Assets" means all Assets (as defined in the
Asset Purchase Agreement) that were conveyed to Licensor pursuant to Section 1.1
of the Asset Purchase Agreement.
1.2 Interpretation. In the License Agreement, unless a clear
contrary intention dictates otherwise:
1.2.1 the singular number includes the plural number
and vice versa;
1.2.2 reference to any Person includes such Person's
successors and assigns but, if applicable, only if such successors and assigns
are permitted by the terms of the applicable agreement; and reference to a
Person in a particular capacity excludes such Person in any other capacity or
individually;
1.2.3 reference to either gender includes the other
gender;
1.2.4 reference to any agreement (including the
License Agreement and the Schedules attached thereto), document or instrument
means such agreement, document or instrument as amended or modified and in
effect from time to time in accordance with the terms thereof and, if
applicable, the terms of the License Agreement;
1.2.5 reference to any Law means as amended,
modified, codified, replaced or re-enacted, in whole or in part, and in effect
on the date of the License Agreement, including rules, regulations, enforcement
procedures and any interpretations promulgated thereunder;
1.2.6 reference to any Article, Section, subsection,
clause, Exhibit or Schedule means such Article,
88
I-5
Section, subsection or clause of the License Agreement or Schedule thereto;
1.2.7 "herein," "hereunder," "hereof," "hereto" and
words of similar import shall be deemed references to the Agreement as a whole
and not to any particular Article, Section, subsection, clause, Exhibit or
Schedule attached thereto;
1.2.8 "including" (and with correlative meaning
"include") means including without limiting the generality of any description
preceding such term; and
1.2.9 the headings contained in the License Agreement
(including the Exhibits and Schedules attached thereto) are for reference
purposes only and shall not affect in any way the meaning or interpretation of
the License Agreement.
1.3 Construction. The parties have participated jointly in the
negotiation and drafting of the License Agreement directly and through their
respective counsel, i.e. Paul, Weiss, Rifkind, Wharton & Garrison, on behalf of
Parent and Seller, and Baker & McKenzie, on behalf of Purchaser. In the event an
ambiguity or question of intent or interpretation arises, the License Agreement
shall be construed as if drafted jointly by the parties, and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provision of the License Agreement.
89
SCHEDULE II
INTELLECTUAL PROPERTY USED EXCLUSIVELY FOR
NON-ELECTRIC COOKWARE AND BAKEWARE PRODUCTS
TRADEMARKS
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Household hollow wares USA 804130 --
made of metal, namely,
colanders and casserole sets
- --------------------------------------------------------------------------------------------------------------------------
ADVANTAGE Saucepans, saucepots, etc. USA 1226680 --
- --------------------------------------------------------------------------------------------------------------------------
MILLENNIUM Nonelectric cookware USA 1898138 --
- --------------------------------------------------------------------------------------------------------------------------
NEVERSTICK Cookware and bakeware USA 1743201 --
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Cookware and bakeware USA -- 74/071500
CHANGES
NON-STICK
COOKWARE
INTO NEVER-
STICK
COOKWARE
- --------------------------------------------------------------------------------------------------------------------------
NUTRIMASTER Cookware USA 1819494 --
- --------------------------------------------------------------------------------------------------------------------------
DECATHLON Nonelectric cookware and USA 1924653 --
bakeware for household use
- --------------------------------------------------------------------------------------------------------------------------
FARBER Nonelectric cookware and USA 1877200 --
bakeware
- --------------------------------------------------------------------------------------------------------------------------
CLASSICOTE Cookware and bakeware USA -- 74/478730
having a nonstick coating
- --------------------------------------------------------------------------------------------------------------------------
SET BUILDERS Cookware, namely USA 1900692 --
nonelectric pots and pans
- --------------------------------------------------------------------------------------------------------------------------
AMERICAN Nonelectric cookware and USA -- 74/525838
ESSENTIALS bakeware
- --------------------------------------------------------------------------------------------------------------------------
NECESSITIES Nonelectric cookware USA -- 74/615755
- --------------------------------------------------------------------------------------------------------------------------
THERMAL Nonelectric cookware USA -- 74/615769
INTELLIGENCE
- --------------------------------------------------------------------------------------------------------------------------
NEW Aluminum nonstick cookware USA -- 75/026506
DIMENSIONS
- --------------------------------------------------------------------------------------------------------------------------
ALUMINAIRE Cookware USA -- 75/032838
- --------------------------------------------------------------------------------------------------------------------------
90
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
VANGUARD Cookware USA -- 75/032839
1000
- --------------------------------------------------------------------------------------------------------------------------
CONTEM- Cookware USA -- 75/032840
PORARY
COLONIAL
COOKWARE
- --------------------------------------------------------------------------------------------------------------------------
COLONIAL Cookware USA -- 75/032841
COOKWARE
- --------------------------------------------------------------------------------------------------------------------------
[THERMAL [Not provided]*/ CANADA -- 796,549]
INTELLIGENCE
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Dutch ovens GREAT BRIT 876698 --
- --------------------------------------------------------------------------------------------------------------------------
ADVANTAGE Saucepans, saucepots, saute JAPAN -- 06/119132
pans, frypans, etc.
- --------------------------------------------------------------------------------------------------------------------------
GOURMETRIX Nonelectric cookware MEXICO -- N/A
- --------------------------------------------------------------------------------------------------------------------------
THERMAL Nonelectric cookware MEXICO -- 248446
INTELLIGENCE
- --------------------------------------------------------------------------------------------------------------------------
- --------
*/ The products are not listed in the printout we received from Farberware's
intellectual property counsel, but if the products are the same as those
for the corresponding U.S. mark, it belongs in the exclusive category.
II-2
91
INTELLECTUAL PROPERTY USED ON A NON-EXCLUSIVE BASIS FOR
NON-ELECTRIC COOKWARE AND BAKEWARE PRODUCTS
TRADEMARKS
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Various, including pots USA 1122167 --
and pans
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various products, USA 1410374 --
including cookware and
bakeware products and
electric products
- --------------------------------------------------------------------------------------------------------------------------
MILLENNIUM Nonelectric housewares USA -- 74/051501
- --------------------------------------------------------------------------------------------------------------------------
CLASSIC Electric and nonelectric USA -- 74/535281
SERIES cookware
- --------------------------------------------------------------------------------------------------------------------------
GOURMETRIX Electric cookware, USA -- 74/665939
(STYLIZED) bakeware and small
household appliances;
nonelectric cookware,
bakeware and housewares
- --------------------------------------------------------------------------------------------------------------------------
THERMALLY Electric cookware, USA -- 74/665938
INTELLIGENT bakeware and small
COOKWARE household appliances;
nonelectric cookware,
bakeware and housewares
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE All goods in Int. Class 21 ARGENTINA 1104065 --
(housewares and glass),
especially pots, pans,
serving dishes, kitchen
accessories
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Int. Class 21 (housewares AUSTRALIA A214699 --
and glass)
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Int. Class 21 (housewares AUSTRALIA B169254 --
and glass)
- --------------------------------------------------------------------------------------------------------------------------
II-3
92
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Various, including tea AUSTRALIA B399467 --
kettles, nonelectric coffee
percolators, pots, pans,
roasting pans, serving
dishes, etc.
- --------------------------------------------------------------------------------------------------------------------------
MILLENNIUM Nonelectric cookware and AUSTRALIA A553,507 --
bakeware; nonelectric
housewares, statues
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various electric products, AUSTRIA 105517 --
roasters
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Electric products, BENELUX 395531 --
casseroles, serving dishes
- --------------------------------------------------------------------------------------------------------------------------
MILLENIUM Electric and nonelectric BENELUX 497759 --
cookware, bakeware,
housewares
- --------------------------------------------------------------------------------------------------------------------------
MILLENIUM Various electric and non- BENELUX 557765 --
electric products,
including nonelectric
cookware and bakeware
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Household articles and BRAZIL 811438333 --
utensils
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including CANADA 199/50716 --
cookware and bakeware
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Electric and nonelectric CANADA 418801 --
MILLENIUM cookware
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including pots DENMARK 1939-1985 --
and pans
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE All goods in classes 11 FINLAND 92207 --
(environmental control
apparatus) and 21 (house
wares and glass)
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including woks, FRANCE 1249025 --
frypans, casseroles, etc.
- --------------------------------------------------------------------------------------------------------------------------
MILLENIUM Electric and nonelectric FRANCE 1678333 --
cookware and bakeware
- --------------------------------------------------------------------------------------------------------------------------
II-4
93
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Pots, pans, serving dishes, GREAT BRIT B1205915 --
stovetop percolators, etc.
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including pots, GREAT BRIT B1485062 --
MILLENNIUM pans, serving dishes
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including serving W. GERMANY 1065973 --
dishes and colanders
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various electrical products GREECE 77282 --
and cooking utensils and
table articles, including
frying pans, roasting pans,
etc.
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including woks, GREECE 76060 --
frypans, casseroles, etc.
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Int. Class 21 (housewares ISRAEL 23462 --
and glass)
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including pots, ISRAEL 57840 --
pans and serving dishes
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including frypans ISRAEL 57748 --
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Classes 11 (environmental ITALY 417819 --
control apparatus) and 21
(housewares and glass)
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Kitchen utensils and other JAPAN 1933794 --
goods in national class 19
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Kitchen utensils, daily use JAPAN 2529987 --
(KATAKANA) articles
- --------------------------------------------------------------------------------------------------------------------------
MILLENIUM Kitchen utensils, daily use JAPAN 2529988 --
articles
- --------------------------------------------------------------------------------------------------------------------------
MILLENIUM Kitchen utensils, daily use JAPAN 2529989 --
(KATAKANA) articles
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including MALAWI 203/83 --
frypans, casseroles
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Pots, pans, serving dishes, MALAWI 204/83 --
stovetop percolators, etc.
- --------------------------------------------------------------------------------------------------------------------------
II-5
94
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Various, including pots, MEXICO 425715 --
pans, casseroles
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Tea kettles, nonelectric NEW ZEALAND B69536 --
coffee percolators,
roasting pans, saucepans,
frying pans, colanders and
mixing bowls
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including NEW ZEALAND 149652 --
frypans, casseroles
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including pots, NEW ZEALAND 149653 --
pans and serving dishes
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including NORWAY 118836 --
casseroles, bowls,
colanders, steamers
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including woks PERU -- 286864
and casseroles
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Int. Class 21 (housewares PERU -- 286866
and glass)
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including serving PORTUGAL 224162 --
dishes, bowls, colanders
and steamers
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including pots, S. AFRICA B83/7485 --
pans, colanders
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including woks, SWEDEN 191705 --
serving dishes, bowls
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including woks, SWITZERLAND 328759 --
serving dishes, bowls
- --------------------------------------------------------------------------------------------------------------------------
[FARBERWARE Receptacles VENEZUELA 121465-F] --
- --------------------------------------------------------------------------------------------------------------------------
[FARBERWARE National Class 14 VENEZUELA 121938] --
- --------------------------------------------------------------------------------------------------------------------------
[FARBERWARE National Class 30 VENEZUELA 121467-F] --
- --------------------------------------------------------------------------------------------------------------------------
FARBERWARE Various, including frypans ZIMBABWE B560/83 --
and casseroles
- --------------------------------------------------------------------------------------------------------------------------
II-6
95
==========================================================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
==========================================================================================================================
FARBERWARE Various, including pots, ZIMBABWE B561/83 --
pans, serving dishes and
stovetop percolators
==========================================================================================================================
II-7
96
PATENTS
==========================================================================================================================
TITLE JURISDICTION SERIAL NO. PATENT NO.
==========================================================================================================================
Cookware and Method of Making the Same USA 403828 4511077
- --------------------------------------------------------------------------------------------------------------------------
Cookware Bottom Wall Structure USA 602308 4552284
- --------------------------------------------------------------------------------------------------------------------------
Method of Making Cookware USA 723245 4613070
- --------------------------------------------------------------------------------------------------------------------------
Combined Cooking and Storage Container USA 847899 D305086
- --------------------------------------------------------------------------------------------------------------------------
Combined Cooking and Storage Container USA 847896 D305393
- --------------------------------------------------------------------------------------------------------------------------
Microwave Browning Cookware USA 848176 4701585
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same ASTL 10545/83 539709
- --------------------------------------------------------------------------------------------------------------------------
Method of Making Cookware ASTL 56033/86 561385
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same ATRA A2578/83 395521
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same BELG 211270 897418
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same CANA 421812 1200705
- --------------------------------------------------------------------------------------------------------------------------
[Cooking Machine CANA 4-05-84-8 54804]
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same DENM 546/83 156941
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same FRAN 8301484 8301484
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same GBRI 8301169 2124474
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same GERW P33274762-45 P3327476.2
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same GREC 72052 79598
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same HONG -- 407/86
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same ITAL 22281A/83 1170183
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same JAPA 134514/83 1507157
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same LUXE 84938 84938
- --------------------------------------------------------------------------------------------------------------------------
Method of Making Cookware SPAI 554008 554008
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same SPAI 524584 524584
- --------------------------------------------------------------------------------------------------------------------------
II-8
97
==========================================================================================================================
TITLE JURISDICTION SERIAL NO. PATENT NO.
==========================================================================================================================
Cookware and Method of Making the Same SWED PAT8304191-3 PUB456895
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same SWIT 4173/83-0 661195
- --------------------------------------------------------------------------------------------------------------------------
Cookware and Method of Making the Same TAIW 73102768 NI-25368
- --------------------------------------------------------------------------------------------------------------------------
Method of Making Cookware TAIW 73102768A01 171457
==========================================================================================================================
II-9
98
COPYRIGHTS */
===========================================================
NAME OF WORK REGISTRATION NUMBER
===========================================================
ECB-40 grease tray VAu 198-191
- -----------------------------------------------------------
ECB-40 reflector VAu 198-194
- -----------------------------------------------------------
Small char-b-que/reflector VAu 198-196
- -----------------------------------------------------------
ECB-40 Contempra grill VAu 198-185
- -----------------------------------------------------------
Contempra (rectangular) stoneware VAu 198-186
- -----------------------------------------------------------
Char-b-que grease tray VAu 198-188
- -----------------------------------------------------------
Char-b-que reflector VAu 198-187
- -----------------------------------------------------------
ECBO040 Grill for ceramic cooker VAu 198-189
- -----------------------------------------------------------
Char-b-que grill VAu 198-193
- -----------------------------------------------------------
Char-b-que bowl VAu 198-197
- -----------------------------------------------------------
Heating element VAu 198-190
- -----------------------------------------------------------
25016 Reflector VAu 198-198
- -----------------------------------------------------------
25027 Grease tray VAu 198-195
- -----------------------------------------------------------
Char-b-que heat element support VAu 198-192
- -----------------------------------------------------------
Ceramic char-b-que grill VAu 183-512
- -----------------------------------------------------------
- --------
*/ I cannot determine which products these copyrights relate to.
II-10