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EXHIBIT 10.21
LICENSE AGREEMENT
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LICENSE AGREEMENT, dated as of July 12, 1996 (the "Effective Date"),
by and between FARBERWARE INC. (formerly known as Far-B Acquisition Corp.), a
Delaware corporation (the "Licensor") and SERVICE MERCHANDISE COMPANY, INC., a
Tennessee corporation (the "Licensee").
WHEREAS, Licensor has acquired and owns certain trademarks, patents
and copyrights relating to Electric 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
Electric 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:
ARTICLE I.
Definitions, Interpretation and Construction
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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.
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ARTICLE II.
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Grant of Licenses
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2.1 Licensor hereby grants to Licensee for the period from the
Effective Date until Termination in accordance with Article XV 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, distribution
and/or sale of Electric Products, 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
throughout the world (except as set forth in the last sentence of this Section
2.1.2 and as otherwise hereinafter provided) 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 in connection with
the sourcing, manufacture, distribution and/or sale of Electric Products, such
specific Intellectual Property Rights, together with such registrations thereof
as may hereafter be effected in additional countries in accordance with Section
7.2 solely for Electric Products, being herein collectively called "Schedule II
Rights." Notwithstanding the foregoing provisions of this Section 2.1.2, to the
extent that the Schedule II Rights have application to electrical items for
commercial, industrial and/or institutional uses, Licensor retains, and shall at
all times have, the right to use and exploit the Schedule II Rights, for itself
and its assignees, licensees, successors and assigns, in connection with the
sourcing, manufacture,
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distribution and/or sale of electrical items for commercial, industrial and/or
institutional use (as distinguished from home use) whether or not now invented.
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 distribution of Electric Products, 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 7.2 not solely for Electric
Products, being herein collectively called "Schedule III Rights."
2.2 Licensor reserves unto itself (for its own account and benefit
and, where relevant, the accounts and benefit of holders of Farberware Licenses,
including Existing Farberware Licenses) 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 any Affiliate of Licensor shall have the right at any
time and from time to time to sell any and all Electric Products inventory owned
by Licensor or any Affiliate of Licensor on the date hereof or that Licensor is
hereafter required to purchase under the MSA or pursuant to outstanding purchase
orders issued to third parties, and all
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returns of any thereof; provided, however, that promptly after August 29, 1996
Licensor shall offer to sell to Licensee all unsold Electric Products inventory
then owned by Licensor "as is" and "where is" at a price equal to Licensor's
Costs therefor, and Licensee shall have three business days following receipt of
such offer (which offer shall be accompanied by a list of all Electric Products
then comprising the Electric Products inventory then owned by Licensor and a
statement of Licensor's Costs therefor) within which to accept it. Licensee
shall have the right to accept such offer in whole but not in part. If Licensee
accepts such offer within such period, Licensee shall take immediate delivery of
the Electric Products inventory and make prompt payment therefor. If Licensee
fails to accept such offer within such period, Licensor shall use commercially
reasonable efforts to sell the Electric Products inventory then owned by
Licensor promptly and on the best terms obtainable by Licensor. Notwithstanding
the grants of trademark and other intellectual property rights being made to
Licensee pursuant to Section 2.1, (i) Licensor shall have the right and license
(so long as it owns any Electric Products inventory acquired from the Company,
or from suppliers pursuant to agreements of the Company assumed by Licensor, or
returned by customers) to use and exploit (and to authorize its customers to use
and exploit in connection with resale of such Electric Products 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 Electric Products
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 finished goods Inventory that was in Australia on the Purchase
Date.
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ARTICLE III.
Representations and Warranties of Licensor
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Licensor hereby represents and warrants to Licensee as follows:
3.1 Licensor is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware 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.
3.2 Licensor has full corporate power and authority to enter into this
License Agreement and to consummate the transactions contemplated hereby. The
execution, delivery and performance by Licensor of this License Agreement have
been duly and validly approved by the all necessary corporate action on the part
of the Licensor, and no other actions or proceedings on the part of the Licensor
are necessary to authorize this License Agreement and the transactions
contemplated hereby. The Licensor has duly and validly executed and delivered
this License Agreement. This License Agreement constitutes legal, valid and
binding obligations of the Licensor, 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.
3.3 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 License Agreement is necessary in connection with the execution,
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delivery and performance by the Licensor of this License Agreement or the
consummation of the transactions contemplated hereby, except as may otherwise be
specifically provided in this License Agreement, including Section 18.5 hereof.
3.4 The execution, delivery and performance of this License Agreement
by the Licensor 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 Licensor 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 Licensor is a party
or by which Licensor or any of its assets or properties are bound; (iii) permit
the acceleration of the maturity of any indebtedness of the Licensor secured by
its 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 Licensor, and, in the case of the matters covered by
subclauses (ii) and (iii) above, which could have a material adverse effect upon
the Licensor or materially and adversely affect the ability of the Licensor to
consummate the transactions contemplated by this License Agreement.
3.5 Licensor represents and warrants to the Licensee as follows:
3.5.1 Schedule III is a true copy of an amended Schedule 4.13 to
the Asset Purchase Agreement as delivered to Licensor by the Company on April 2,
1996. It sets forth a list of all material inventions which on that date were
the subject of issued letters patent or applications therefor and all material
trademarks
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and service marks and material copyrights whether or not issued or registered or
for which applications for issuance or registration were then pending, in each
case which are owned by Licensor or used in the Business (as defined in the
Asset Purchase Agreement) 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 Licensor'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
Licensor or the Company 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
Schedules III, IV and V, the Licensor has the exclusive right (subject to
existing license agreements listed on schedules to this License Agreement) to
use the name "Farberware," and to the best of Licensor's knowledge the other
names listed on Schedule III, in the manner, in the jurisdictions and for the
purposes now being used by Licensor and its licensees without infringing the
rights of third parties.
3.5.2 Except as set forth on Schedules III and IV, the Licensor
(i) is not a party to any claim, suit, action or proceeding which involves a
claim of infringement of any Intellectual Property, (ii) Licensor 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 Licensor is aware claiming that, and neither Licensor nor, to the best of
its knowledge, the Company
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has received any notice that, any of the Intellectual Property is invalid,
infringes or conflicts with the asserted rights of others. Except as disclosed
on Schedules III, IV and V, no Intellectual Property is subject to any
outstanding order, judgment, decree, stipulation or agreement restricting the
use thereof by the Licensor or restricting the licensing thereof by the Licensor
to any person. Licensee acknowledges that from time to time Electric Products
have been sold and services in respect thereof have been rendered to customers
whose purchase orders sometimes contain agreements under which the seller of
such products 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 Schedules
III, IV and V, the Licensor has not entered into any special agreement to
indemnify any other person against any charge of infringement of any patent,
trademark, service mark or copyright of the Business.
3.6 Except as set forth in Section 3.5 (including subsections 3.5.1
and 3.5.2), Licensor has not made any representations or warranties of any kind,
express or implied, with respect to Intellectual Property or Intellectual
Property Rights.
3.7 The representations and warranties made in Section 3.5 (including
subsections 3.5.1 and 3.5.2) shall expire and be null and void and of no further
force or effect on and after April 1, 1999, except as to claims asserted prior
to that date in reasonable detail (specifying the nature of the alleged breach
on which the
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claim is based and the nature and extent of the damages purportedly sustained)
in a written notice (given to Licensor in the manner set forth in Section 18.3
of this License Agreement); and no action, suit or proceeding based on any
breach or alleged breach of any such representation or warranty shall be
commenced at any time unless (i) the claims asserted in such action, suit or
proceeding were first asserted in such a notice given prior to April 1, 1999 and
(ii) such action, suit or proceeding is commenced prior to October 1, 1999. Any
action, suit or proceeding that does not satisfy the requirements set forth in
clauses (i) and (ii) of the next preceding sentence shall be, and be deemed to
be, time barred and be subject to dismissal, and be dismissed, as such.
ARTICLE IV.
Representations and Warranties of Licensee
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The Licensee hereby represents and warrants to the Licensor that:
4.1 Licensee 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 Licensee has full corporate power and authority to enter into this
License Agreement and to consummate the transactions contemplated hereby. The
execution, delivery and performance by Licensee of this License Agreement have
been duly and validly approved by the board of directors of Licensee, and no
other actions or proceedings on the part of the Licensee are necessary to
authorize this
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License Agreement and the transactions contemplated hereby. The Licensee has
duly and validly executed and delivered this License Agreement. This License
Agreement constitutes legal, valid and binding obligations of the Licensee,
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.
4.3 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 License Agreement is necessary in connection with the execution,
delivery and performance by the Licensee of this License Agreement and the
fulfillment of its obligations as contemplated hereby, except as may otherwise
be specifically provided in this License Agreement, including Articles V, VI and
VII hereof.
4.4 The execution, delivery and performance by the Licensee of this
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 Licensee 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 the Licensee is a
party or by which the Licensee or any of its assets or properties are bound;
(iii) permit the acceleration of the maturity of any indebtedness of the
Licensee or
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indebtedness secured by assets or properties; or (iv) violate or conflict with
any provisions of the organizational instruments of the Licensee and, in the
case of the matters covered by subclauses (ii) and (iii) above which could have
a material adverse effect upon the Licensee or materially and adversely affect
the ability of the Licensee to fulfill its obligations as contemplated by this
License Agreement.
ARTICLE V.
Ownership and Use of Intellectual Property Rights
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5.1 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.
5.2 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
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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.
5.3 Licensee agrees to follow the reasonable instructions of Licensor
for proper use of the Intellectual Property Rights licensed hereby in order that
protection and/or registrations therefor (not within the scope of Licensor's
obligations under this License Agreement) 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 VI.
Quality Standards and Control
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6.1 Licensor acknowledges that adherence to high standards of quality,
safety, style and appearance in the manufacture and distribution of Electric
Products is imperative to preservation of the integrity and value of the
Farberware
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name, related trademarks and associated good will; and Licensee undertakes and
agrees that all Electric Products manufactured and distributed by Licensee using
the Farberware name and related trademarks shall (i) comply with applicable laws
and regulations, (ii) be approved by the Underwriters' Laboratory (or one or
more other laboratories or institutions of comparable standing selected by the
Licensee with the consent of the Licensor, which consent shall not be
unreasonably withheld) and (iii) conform to standards of quality, safety, style
and appearance at least equal to those standards that have heretofore applied to
first quality Electric 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 6.1 either by means of
the procedure set forth in Section 6.2 ("Prior Approval") or by means of the
procedure set forth in Section 6.3 ("Post Production Review"), the choice of
procedure to be chosen by the Licensee in the Licensee's sole and absolute
discretion.
6.2 If Licensee chooses to seek Prior Approval of an Electric 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 Electric
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 Electric 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
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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 Electric Product offered for sale by Licensee shall be in conformity with
the 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 Electric Products that received Prior
Approval to confirm that production stock of such products substantially
conforms with the Approval Samples thereof. Production samples of any Electric
Products that conform to the Approval Samples thereof shall be deemed to meet
the standards required by Section 6.1.
6.3 If Licensee elects not to pursue prior approval of any Electric
Product in accordance with Section 6.2 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 Electric Product so long as Licensee
determines in good faith that such product conforms to the standards required by
Section 6.1. Prior to or contemporaneously with Licensee's first commercial sale
of any Electric Product for which Licensee did not seek Prior Approval in
accordance with Section 6.2, Licensee shall provide Licensor with written notice
of Licensee's
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introduction of such Electric Product. Licensee agrees to make available to
Licensor at no charge such samples of each of the Electric 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 whether such products comply with the standards
specified in Section 6.1 above. If Licensor thereafter determines in Licensor's
reasonable discretion (which shall not be arbitrarily or capriciously exercised)
that any Electric Product not previously approved in writing (except as
otherwise provided in the penultimate sentence of Section 6.2) does not comply
with applicable laws and regulations or meet the quality standards required by
Section 6.1, 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 XIII by written notice to Licensee to order that
such product be withdrawn from the market (i) immediately if Licensor's
objections relate to the safety of the product or (ii) within 180 days if
Licensor's objections relate to other factors, including the aesthetic quality
of such product. 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.
6.4 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 Electric Products.
6.5 Any modification of any Electric Product, including any change of
materials, design or size, which could adversely affect the quality or safety of
such product, shall be treated as if it were a new product.
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6.6 Licensee acknowledges that adherence to high standards of quality,
style and appearance in the packaging and advertising (including any printed
materials) of Electric 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
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 Electric
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 the highest grade Electric Products manufactured and
distributed by the Licensee under its own name or under the name of other
licensors of comparable stature and reputation as the Licensor; 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 6.6 either by means of the procedure set
forth in subsection 6.6.1 ("Prior Approval"), or by means of the procedure set
forth in subsection 6.6.2 ("Post-Utilization Review"), the choice of procedure
to be made by Licensee in Licensee's sole and absolute discretion.
6.6.1 If Licensee chooses to seek Prior Approval of any Packaging
and/or Promotional Materials, Licensee shall submit samples (hereinafter
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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 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.
6.6.2 If Licensee elects not to pursue Prior Approval of any
Packaging and/or Promotional Materials in accordance with subsection 6.6.1
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 6.6. 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 6.6.1, 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 6.6.
If Licensor thereafter determines in Licensor's
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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 6.6, 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 XIII), by written notice to Licensee,
to order that use of such Packaging and/or Promotional Materials be discontinued
(i) immediately, if Licensor determines that such Packaging and/or Promotional
Materials are offensive to community standards of decency or good taste or place
any of the Licensed Marks in jeopardy, or (ii) within 180 days if Licensor's
objections relate to other factors, including the aesthetic qualities of such
materials. 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.
6.7 If Licensee at any time desires to have any Electric
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.
6.8 All complaints concerning any Electric 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
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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.
6.9 All returns of Electric Products sold by Licensee under this
License Agreement shall be directed to Licensee. In the event that any Electric
Products sold by Licensee are returned to Licensor by consumers, Licensor shall
request written instructions from Licensee as to the disposition thereof and,
when received, Licensor shall follow such instructions at Licensee's expense. If
Licensee fails to provide such instructions within ten business days after such
request is made, Licensor shall ship the returned Electric Products to Licensee
C.O.D., and Licensee shall accept the same. In all events, Licensee shall pay
all reasonable costs incurred by Licensor in disposing of the Electric Products
sold by Licensee that are returned by customers to Licensor. In the event that
any Electric Products sold by Licensee are sent to Licensor by distributors,
merchants or wholesalers, Licensor shall decline to accept delivery 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.
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ARTICLE VII.
Trademarks and Service Marks
----------------------------
7.1 Except with the written consent of Licensor, neither Licensee nor
any of its subsidiaries or affiliates will register or attempt to register in
any country (i) subject to any rights specifically granted to Licensee under
this License Agreement, any of the Licensed Intellectual Property Rights
(including any Marks), or (ii) any word, symbol or design which is confusingly
similar to the Licensed Intellectual Property Rights. 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 executed and 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.
7.2 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 unless Licensee shall have (i)
received the written opinion of qualified intellectual property counsel that to
do so will not jeopardize the Licensed Intellectual Property Rights intended to
be used or exercised or Licensor's interests therein and (ii) provided a copy of
such opinion to Licensor together with a statement of Licensee's intended use or
exercise of such Intellectual Property Rights. Licensor shall promptly file
applications for such registration upon
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request by Licensee at Licensee's expense. If Licensor shall for any reason fail
to file any such application within twenty business days after being 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. If Licensor files any such application, Licensor may determine
whether or not to seek registration of any Intellectual Property Right solely
for Electric Products or for additional categories as well. Applications and
registrations of Licensed Intellectual Property Rights solely for Electric
Products shall be Schedule II Rights for purposes of this License Agreement.
Applications and registrations of Licensed Intellectual Property Rights not
solely for Electric Products shall be Schedule III Rights for purposes of this
License Agreement.
7.3 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.
7.4 Licensee agrees that it shall affix to every item or package of
the Electric 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 Electric Products are manufactured and sold
pursuant to a license from Farberware Inc. Licensor agrees to notify Licensee of
any change in the registration status of the Licensed Marks of which Licensor
becomes aware. Licensee shall not be required to indicate changes in the
registration status of Licensed Marks on any
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Electric Products manufactured prior to Licensee's receipt of notice of such
change of status.
ARTICLE VIII.
Patent and Copyright Marking
----------------------------
8.1 At all times from the Effective Date and until termination of the
patents, Licensee shall affix to Electric Products a statement, identifying each
applicable United States Patent, substantially in the following form: "Licensed
under United States Patent No. _______."
8.2 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 IX.
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 incurred
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after the date hereof that are 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 Electric Products. Notwithstanding
the foregoing sentence of this Article IX, 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 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 X.
Indemnification
---------------
10.1 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
Electric Products (other than Electric Products purchased by Licensee from
Licensor) sold by Licensee or any person or entity deriving rights from
Licensee, or arising from personal injury, or
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property damage, or any infringement of any rights of any other person by the
manufacture, sale, possession or use of any Electric Products (other than
Electric Products purchased by Licensee from Licensor) sold by Licensee or any
person or entity deriving rights from Licensee, 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 Electric
Products (other than Electric Products purchased by Licensee from Licensor) or
the use of the Intellectual Property Rights on or in connection with the
Electric Products (other than Electric Products purchased by Licensee from
Licensor) 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 Syratech
Corporation and Licensor and their respective affiliates, officers, directors,
employees and agents. Notwithstanding the foregoing provisions of this Section
10.1, Licensee shall not be required to indemnify Syratech Corporation or
Licensor or their respective Affiliates, officers, directors, employees or
agents against any liability arising out of any infringement of the rights of
any other Person if (i) such infringement constitutes a breach of Licensor's
representations and warranties under Section 3.5 and (ii) such representations
and warranties are in effect and have not expired in accordance with the terms
of Section 3.7 at the time when the claim of infringement is made by the Person
whose rights have been infringed.
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10.2 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 Electric 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
Electric 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. Except as
set forth on Schedule IV, there are no infringement claims known to Lessor.
ARTICLE XI.
Insurance
---------
To assure the exoneration and indemnification provided for in
Section 8.1, Licensee shall, at Licensee's expense, obtain (and shall cause each
of its sublicensees to obtain with respect to Electric Products covered by its
sublicense) product liability insurance with respect to Electric Products sold
hereunder in the following amounts:
$1,000,000 - per occurrence; plus
$5,000,000 - umbrella
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The insurance obtained by Licensee (and each of its sublicensees) shall be in
form and with insurers reasonably acceptable to Licensor, and shall provide
coverage for Licensor as an additional insured. No deductible shall apply to
claims against Licensor. Upon the execution of this License Agreement, and upon
execution of each sublicense, Licensee shall submit to Licensor original or
duplicate policies of insurance or certificates of the insurers showing that the
insurance hereinabove required is in effect, each of which policies or
certificates shall provide that the insurer thereunder shall provide to Licensor
written notice of alteration or cancellation of the relevant insurance policy at
least thirty (30) days prior to such alteration or cancellation of the insurance
policy. Licensor shall indemnify Licensee from and against any claim that
Licensee is not entitled to use the Licensed Intellectual Property Rights
pursuant to this License Agreement because such use allegedly infringes on the
rights of any third party granted to such third party by Licensor.
ARTICLE XII.
Limitation of Licensor's Rights
-------------------------------
Except as otherwise provided in Section 2.2, Licensor shall not
use the Electric Products Rights or the Schedule II Rights or Schedule III
Rights for itself on Electric Products during the Term. Licensor shall not
license any other party to use the Electric Products Rights or the Schedule II
Rights or Schedule III Rights on Electric Products during the Term.
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ARTICLE XIII.
Royalties
---------
13.1 Advances.
--------
13.1.1 Licensee has paid to Licensor, and Licensor acknowledges
the receipt of, the sum of * Dollars ($*) as an advance (an "Advance") against
royalties to be due and payable for the period beginning on the date hereof and
ending December 31, 1997 (the "Start-up Period").
13.1.2 On or before the first day of each calendar quarter of
calendar year 1998 Licensee shall pay to Licensor the sum of * Dollars ($*) as
an advance (each, an "Advance") against royalties to be due and payable for the
calendar quarter then beginning or about to begin.
13.1.3 On or before the first day of each calendar quarter of
calendar year 1999 Licensee shall pay to Licensor the sum of * Dollars ($*) as
an advance (each, an "Advance") against royalties to be due and payable for the
calendar quarter then beginning or about to begin.
13.1.4 On or before the first day of each calendar quarter of each
succeeding calendar year during the Term, beginning January 1, 2000, Licensee
shall pay to Licensor the sum of * Dollars ($*) as an advance (each an
"Advance") against royalties to be due and payable for the calendar quarter then
beginning or about to begin.
13.2 Royalties.
---------
13.2.1 On or before the 44th day of each calendar quarter,
beginning with the calendar quarter (the "First Payment Quarter") next following
the
- -------------
* Redaction
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one in which the aggregate royalties accrued from the inception of the Start-up
Period through the end of such calendar quarter first exceed the Section 13.1.1
Advance and ending on February 14, 1998, Licensee agrees to make a royalty
payment to Licensor that is equal to * percent (*%) of the First Cost of all
Electric Products (a) purchased by the Licensee (other than Electric Products
purchased by Licensee from Licensor) or (b) sold by sublicensees of the Licensee
(other than Electric Products sold by such sublicensees to the Licensee): (i) in
the case of the payment in the First Payment Quarter, from the inception of the
Start-up Period through the end of the next preceding calendar quarter, and (ii)
in case of payments in any succeeding quarter, during the calendar quarter next
preceding such payment; provided, however, that Licensee shall be entitled to
deduct from the first Royalty Payment made in respect of the Start-up Period an
amount equal to the Advance paid in respect of the Start-up Period; and
provided, further, that the payment date for royalties pertaining to Electric
Products sold by sublicensees of Licensee shall be the 60th day of each calendar
quarter.
13.2.2 On or before the 44th day of each calendar quarter starting
with the calendar quarter that begins on April 1, 1998 and ending on the 44th
day following the end of the Term, Licensee agrees to make a Royalty Payment to
Licensor that is equal to (i) * percentum (*%) of the First Cost of all Electric
Products (a) purchased by the Licensee or (b) sold by sublicensees of the
Licensee (other than Electric Products sold by such sublicensees to the
Licensee) during the next preceding calendar quarter, LESS (ii) the Advance paid
in respect of the next preceding calendar quarter; provided that the payment
date for royalties pertaining to
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Electric Products sold by sublicensees of Licensee shall be the 60th day of each
calendar quarter.
13.2.3 Each Royalty Payment shall be accompanied by a complete and
accurate statement, signed and certified by the chief financial officer of
Licensee, showing (i) the number, description (by SKU) and First Cost of the
Electric Products purchased by the Licensee during the Start-up Period or the
preceding calendar quarter, as the case may be, (ii) the number, description (by
SKU) and First Cost of the Electric Products sold by each sublicensee of the
Licensee during the Start-up period or the preceding calendar quarter, as the
case may be, and (iii) all other information necessary to verify the computation
of the Royalty Payment.
13.2.4 On or before the 28th day of March in each calendar year
during the Term, beginning in calendar year 1999, and in the calendar year
following the end of the Term, Licensee shall provide Licensor with a summary
accounting (certified by Licensee's Chief Financial Officer) of all royalties
payable in respect of the next preceding calendar year. Subject to objection and
audit, as hereinafter provided, if such summary accounting shows that the
royalties payable in respect of the next preceding calendar year exceeded the
sum of the Advances paid and Royalty Payments made in respect of the next
preceding calendar year, Licensee shall pay to Licensor the amount of such
excess. Conversely, if such summary accounting shows that the sum of the
Advances paid and Royalty Payments made in respect of the next preceding
calendar year exceeded the greater of (i) the Advances paid in respect of such
calendar year and (ii) the royalties payable in respect of such calendar year,
Licensor shall refund such excess to Licensee. Licensee may accept,
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but shall have the right to audit and object in writing to the substance of any
summary accounting provided pursuant to this Section 13.2.4, in which latter
event the resulting dispute shall be resolved as provided in Article XVII.
13.2.5 As used herein the term "First Cost" means (i) in the case
of Electric Products purchased by Licensee from a manufacturer or other supplier
(including any sublicensee) based in the United States, the amount paid or
payable by Licensee to such manufacturer or other supplier for such Electric
Products, net of discounts and allowances to Licensee applicable solely and
specifically to such Electric Products and exclusive of freight or shipping
charges, (ii) in the case of Electric Products purchased by Licensee from an
overseas-based (non-United States) manufacturer or other supplier (including any
sublicensee), the amount paid or payable by Licensee to such manufacturer or
other supplier for such Electric Products, exclusive of freight or shipping
charges and customs duties and other taxes and customs brokers' fees payable by
Licensee in respect of such products, (iii) in the case of Electric Products
sold by an overseas-based (non-United States) sublicensee, the amount paid or
payable to such sublicensee for such Electric Products by its customers (other
than Licensee), exclusive of freight or shipping charges, and, if applicable,
customs duties and other taxes and customs brokers' fees payable by the
customers to whom such Electric Products are sold, and (iv) in the case of a
United States-based sublicensee, (a) the amount paid or payable to such
sublicensee for Electric Products manufactured, completed or finished by or on
behalf of such sublicensee within the United States, net of discounts and
allowances to its customers (other than Licensee) applicable solely and
specifically to such Electric
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Products or (b) the amount paid or payable by such sublicensee for finished
Electric Products imported by it from overseas suppliers, in each case exclusive
of freight or shipping charges and, in the case of subclause (b), customs duties
and other taxes and customs brokers' fees, payable by such sublicensee.
13.3 INSPECTION OF BOOKS AND RECORDS. Licensee agrees to keep,
and to cause its sublicensees to keep, accurate books of account and records
covering all transactions relating to the purchase (in the case of Licensee) or
sale (in the case of sublicensees) of Electric Products. Licensor, its
representatives and agents shall have the right at all reasonable business
hours, upon reasonable notice, to examine and audit (including the right to make
extracts) the books and records and other related documents and records in order
to verify Electric Products purchases (in the case of Licensee) and sales (in
the case of sublicensees) of Licensee and any sublicensees and royalties due,
and such books and records shall be maintained by Licensee and its sublicensees
for three (3) years following each Royalty Payment. Any inspection shall be at
Licensor's expense, unless a discrepancy to Licensor's detriment in the amount
of three percent (3%) or more is discovered, in which event Licensee shall bear
all customary expenses, including reasonable accounting, auditing and legal fees
and related disbursements and other charges.. Any agreement pursuant to which
Licensee grants a sublicense shall provide that both Licensor and Licensee shall
have rights vis-a-vis the sublicensee (including rights to inspect books and
records) that are substantially the same as the foregoing rights of the Licensor
vis-a-vis the Licensee; but the Licensee shall have the primary obligation to
collect royalties due from the sublicensees and to audit compliance by the
sublicensees with the terms of this
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License Agreement, including the royalty payment provisions; and no exercise by
Licensor of its rights to inspect sublicensees' books and records shall relieve
Licensee from such responsibility or from its obligation to pay royalties based
on sales made by its sublicensees.
13.4 CURRENCY. All Royalty payments and Advances due under this
Agreement shall be based on United States Dollar calculations and paid by
Licensee in United States Dollars. Exchange rates used to convert local currency
sales to United States Dollars shall be the applicable exchange rate of New York
banks as published in the Wall Street Journal on the day preceding the date of
payment.
13.5 BLOCKED CURRENCY. If any foreign governmental entity
restricts or prohibits, by exchange controls or otherwise, the payment by
Licensee to Licensor of any sums due to Licensor hereunder, Licensee shall,
notwithstanding any such restriction, pay to Licensor in the United States any
and all such sums due Licensor by Licensee hereunder in United States Dollars,
as and when due in accordance with the terms hereof.
ARTICLE XIV.
Unlicensed Use of Licensed Materials
------------------------------------
14.1 Licensee agrees that it will not use the Licensed
Intellectual Property Rights in any way other than as herein authorized.
14.2 Licensee shall promptly notify Licensor in writing of any
infringement by any third party of the Licensed Intellectual Property Rights
which come to the Licensee's attention. In the event that the Licensor
determines that action
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should be taken against any such third party, the Licensor may take such action
in its own name and at its own expense or, where required by law, in the
Licensee's name. Licensor shall bear the cost of such action and shall be
entitled to control the prosecution thereof. The Licensee agrees to cooperate
fully with the Licensor to the extent necessary to prosecute any such action
and, if necessary, to be named by Licensor as a sole complainant or
co-complainant in any action against an alleged infringer of the Licensed
Intellectual Property Rights. If Licensor decides not to bring any such action
after having been requested in writing by the Licensee to do so, then the
Licensee will be entitled, at its own expense, to bring such action in its own
name or, where required by law, in the Licensor's name. The Licensee will at all
times keep the Licensor informed of all details arising in connection with any
action, and the Licensor will at all times have the right to participate in any
such action at its own expense. The Licensor agrees to cooperate fully with the
Licensee to the extent necessary to prosecute any such action. In the event and
to the extent that any action brought under this Section results in any monetary
recovery, such recovery shall first be applied to payment of the expenses of
Licensor and Licensee, respectively, and the balance of such recovery shall be
divided between Licensor and Licensee in proportion to the damages sustained by
each of them as a result of the infringement.
ARTICLE XV.
Termination
-----------
15.1 BASIC TERM. Unless previously terminated, the term of this
License Agreement ("Term"), and the rights and licenses granted herein, shall
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continue from the Effective Date to December 31, 2095 (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.
15.2 TERMINATION BY LICENSEE. Licensee shall have the right to
terminate this License Agreement at any time upon six months' prior written
notice to Licensor given in the manner provided in Section 18.3.
15.3 TERMINATION BY LICENSOR. 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
or the Agreement (including failure to make any payment required to be made
pursuant to the Agreement when due), which, after due notice of same from
Licensor, remains uncured for a period of 60 calendar days, provided, however,
that a breach (other than a failure to make any payment when due), which cannot
be cured within 60 days after notice will not result in termination of this
Agreement if (i) such breach is susceptible of being cured within a reasonable
time, (ii) efforts to cure such breach are commenced promptly after receipt of
notice thereof, and (iii) such efforts are faithfully and diligently pursued by
Licensee. Upon any such termination, Licensor shall be entitled to such damages,
as the tribunal having jurisdiction shall determine.
15.4 FORCE MAJEURE. No party shall be liable for failure or
delay in performance of its obligations (except any obligation to pay money)
hereunder when such failure or delay is due to force majeure and without the
fault or negligence of the party so failing or delaying. For purposes of this
License Agreement, "force
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majeure" is defined as causes beyond the control of the party, which cannot be
practicably remedied by such party, including, without limitation: acts of God;
acts, regulations or laws of any government; war; civil commotion; destruction
of production facilities or materials by fire, earthquake or storm, labor
disturbances; epidemic; and failure of public utilities or common carriers. If
for any of the reasons set forth above any party shall be unable to perform any
obligation when due, such party shall immediately notify the other of such
inability and of the period of which such inability is expected to continue.
Affected obligations of the parties shall be temporarily suspended during the
period of force majeure and the time for performance under this License
Agreement shall, as applicable, be extended by the duration of any such period.
ARTICLE XVI.
Effect of Termination
---------------------
16.1 Upon termination of the licenses granted in this License
Agreement, Licensee agrees, except as otherwise provided in Section 16.2,
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 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.
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16.2 Upon termination of this License Agreement pursuant to
Section 15.1 or Section 15.3, Licensee and each of Licensee's sublicensees shall
have the right to sell, for a period of six (6) months thereafter, any Electric
Products that it has on-hand or that are in the process of manufacture and
required to be purchased by Licensee or such sublicensee pursuant to purchase
orders that are outstanding on the termination date, provided that Licensee and
each such sublicensee shall be bound by all other obligations imposed upon it by
or pursuant to this License Agreement. Thereafter, and except as otherwise
hereinafter provided immediately upon termination of this License Agreement
pursuant to Section 15.2, all unsold inventory of Electric Products must either
be (i) reworked to change its appearance or (ii) destroyed. In no case may
Electric Products inventory be "dumped" or sold below manufactured costs. The
sell-off rights provided for under this Section 16.2 shall not apply unless
Licensee and/or each sublicensee wishing to take advantage of the sell off
rights permitted herein maintains the insurance coverage required under Article
XI of this License Agreement throughout the applicable sell-off period.
Notwithstanding the second sentence of this Section 16.2 (and in addition to the
rights given to it by the first sentence of this Section 16.2), Licensee (but
not any sublicensee) shall have the right to sell in its own retail stores
(without a time limit) any Electric Products that are on hand or that are in the
process of manufacture and required to be purchased by Licensee pursuant to
purchase orders outstanding (i) upon termination of this License Agreement
pursuant to Section 15.1 or Section 15.3 or (ii) on the date the notice of
termination is given (the "Termination Notice Date") pursuant to Section 15.2,
if, but only if, Licensee does not purchase (other than
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pursuant to purchase orders by which the Licensee was then bound) any Electric
Products on or after the termination date (in the case of a termination pursuant
to Section 15.1 or Section 15.3) or on or after the Termination Notice Date (in
the case of a termination pursuant to Section 15.2). In all cases the provisions
of the third sentence of this Section 16.2 shall apply.
16.3 The obligations of Licensee under Articles VII through X of
this License Agreement shall in all events survive any termination of this
License Agreement, and Licensee's obligations under Article XIII of this
Agreement to pay Advances and make Royalty Payments (and to account therefor)
shall survive any termination of this License Agreement to the extent of any
Advances or Royalty Payments that would otherwise become due or accrue through
the date of termination. The obligations of Licensor under the final sentence of
Article XI shall survive any termination of this License Agreement.
ARTICLE XVII.
Dispute Resolution
------------------
17.1 If a dispute between the parties cannot be resolved by
informal meetings and discussions within five days after commencement thereof,
either party to this 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: (A) appoint a single mediator if they can agree on one
mediator; or (B) if the parties cannot agree on a single mediator, each appoint
one mediator, and the two mediators shall appoint
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a third mediator. No mediator shall be an employee, officer, Board member,
consultant, supplier or customer, or otherwise affiliated with a party to this
Agreement and shall be reasonably qualified to act as a mediator with respect to
the negotiation of agreements similar to this 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 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.
17.2 If the parties are unable to resolve a controversy pursuant
to Section 17.1 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 18.3 will be deemed
personal service and accepted by Licensee for any arbitration or proceeding with
respect to this 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
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conducted in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. The situs of the arbitration will be New York, NY.
17.3 Any action or proceeding brought by any party on the basis
of any controversy or claim arising out of or relating to this Agreement, or the
breach thereof, shall be brought in the United States District Court for the
Southern District of New York, in New York City, New York, if that court has
subject matter jurisdiction, and otherwise in a commercial law part of the New
York State Supreme Court at New York, NY, and each of the parties hereby submits
to the personal jurisdiction and venue of such court.
ARTICLE XVIII.
Miscellaneous
-------------
18.1 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.
18.2 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
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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 18.2.
18.3 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:
Service Merchandise Company, Inc.
P.O. Box 2347
Brentwood, Tennessee 37024
Attn: Raymond Zimmerman
Chairman of the Board
with a copy to:
Glen Bodzy, Esq.
General Counsel
Service Merchandise Company, Inc.
P.O. Box 2347
Brentwood, Tennessee 37024
if to the Licensor, at:
Farberware Inc.
c/o Syratech Corporation
175 McClellan Highway
East Boston, MA 02128-9114
Attn: Mr. Leonard Florence,
Chairman of the Board,
President and Chief Executive Officer
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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.
18.4 Assignment, etc.
---------------
18.4.1 Except as hereinafter provided, this License
Agreement, the license granted to Licensee, and the duties and obligations of
Licensee, are all personal to Licensee, and Licensee agrees not to sell, assign,
transfer, mortgage, pledge, hypothecate or sublicense any such license or any
rights therein in whole or in part, or delegate any of its duties or obligations
under this License Agreement without the consent of the Licensor, which consent
shall not be unreasonably withheld. As a condition precedent to any sale,
assignment, transfer, mortgage, pledge, hypothecation or sublicensing
(collectively, and each, a "Transfer") of the license granted herein or any
rights of the Licensee hereunder, Licensor shall be entitled to require that
Licensee demonstrate that (i) the intended purchaser, assignee, transferee,
mortgagee, pledgee, other recipient or sublicensee (each a "Transferee") has the
financial capacity and is prepared to fulfill the obligations of the Licensee,
hereunder, (ii) such Transfer will not result in a diminution of the royalties
payable to Licensor hereunder, (iii) such Transfer will not result in any loss
of the protections available to Licensor
42
42
hereunder, (iv) such Transfer will not result in any loss, damage to, or
diminution in the value or integrity of, the trademark and tradename
"Farberware" or of any of the other Intellectual Property Rights licensed
hereunder, (v) Licensee will remain liable for all obligations of the Transferee
including the right to account for and pay royalties to the Licensor, and (vi)
Licensee shall provide such other and further reasonable assurances and
understandings as Licensor, in its discretion, shall deem necessary. Any
purported transfer, assignment or delegation in violation of the foregoing
provisions shall be deemed to be a material breach of this License Agreement and
shall be void and without effect, and this License Agreement shall thereupon
become terminable without further notice by Licensor. In the context of this
provision, "assignment" shall include (i) the transfer of substantially all of
the assets of Licensee (even if this License Agreement is specifically excluded
from such transfer), or of a majority interest in the voting stock of Licensee,
or (ii) the merger, consolidation or reorganization of Licensee with one or more
third parties, unless the entity resulting from such merger, consolidation or
reorganization shall have a net worth (shareholder's equity) that is at least
equal to the net worth (shareholder's equity) of Licensee immediately prior to
such merger, consolidation or reorganization.
18.4.2 Notwithstanding the provisions of Section 18.4.1, Licensee
shall have the right to assign its rights under the License Agreement to a
domestic corporation (organized under the laws of one of the 48 contiguous
states of the United States) all of the capital stock of which is owned by
Licensee, provided that (i) Licensee undertakes and agrees to continue to own
all of the capital stock of such corporation, (ii) such corporation assumes all
of the obligations of Licensee
43
43
under this License Agreement, (iii) Licensee continues to be bound and obligated
as a principal (and not as a surety) by all of the terms of this License
Agreement that now bind the Licensee and agrees, as principal and not as surety,
to perform all of its obligations hereunder, and (iv) such assignment is not
made with the purpose of reducing the royalties payable to Licensee hereunder.
18.4.3 Notwithstanding the provisions of Section 18.4.1, Licensee
shall have the right to grant one or more sublicenses hereunder without the
prior written consent of Licensor provided that (i) Licensee shall assure itself
of the integrity and financial responsibility of each person or entity to whom a
sublicense is granted, (ii) each sublicensee shall agree to be bound by all of
the obligations, terms and conditions that obligate, bind or affect the Licensee
under this License Agreement to the extent that such obligations, terms and
conditions are relevant given the nature of the rights granted by the Licensee
to any given sublicensee, (iii) Licensee shall be and remain responsible for the
performance by each sublicensee of all of its obligations to the Licensor
hereunder, (iv) the Licensee shall agree to ascertain, compute, audit and
collect, and shall faithfully ascertain, compute, audit and collect, all
royalties that become payable by each sublicensee hereunder, and provide for and
enforce penalties against any sublicensee that conceals sales or wilfully
miscalculates royalties, and (v) the Licensee shall agree to establish, police
and enforce adequate mechanisms to assure the quality of Electric Products
produced or sold by its sublicensees and to protect the Licensed Intellectual
Property. Any failure by the Licensee to fulfill its obligations with respect to
the oversight and supervision of its
44
44
sublicensees shall be, and be deemed to be, a breach of this License Agreement
by the Licensee.
18.5 This License Agreement shall not take effect unless and
until LHC has given its written consent thereto. Licensor agrees that during the
Term, Licensee shall sell (and cause its sublicensees to sell) to LHC, upon
mutually agreed payment terms, solely for resale by LHC 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 Electric Products as are being so marketed by the Licensee (or
sublicensees) to other retailers and other resellers (including mass merchants
other than Licensee) in such quantities (subject to availability) as LHC shall
request solely for resale within Farberware Outlet Stores (and for no other
purpose). Licensee 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 Licensee and each
of its sublicensees to any 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 Electric
Products to be sold by Licensee and its sublicensees to LHC, nothing in this
Section 18.5 shall affect the rights of Licensee or its sublicensees to
establish (by agreement with LHC or otherwise) the terms (including timing and
method of payment, delivery and shipping
45
45
responsibilities, return policies, if any, advertising allowances, if any, etc.)
upon which such products will be sold by Licensee or any such sublicensee to
LHC. Licensee further agrees not to (i) establish or operate for its own account
any outlet stores that are identified as "Farberware" outlet stores or which
sell primarily Farberware or Farberware-licensed products or (ii) sublicense
others to establish or operate any such outlet stores.
18.6 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 such successors, assigns and sublicensees, if any, of
Licensee as may be permitted pursuant to Section 18.4.
18.7 GOVERNING LAW. This License Agreement shall be governed by
the laws of the State of New York.
18.8 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.
18.9 ENTIRE AGREEMENT. This License Agreement, including to the
extent applicable and specifically made binding upon the Licensee or to which
the rights granted hereunder are subject, the agreements, 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
46
46
License Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter.
18.10 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.
18.11 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.
18.12 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.
18.13 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.
18.14 If Licensee shall so request, Licensor shall lease to
Licensee for a term beginning on the date hereof and ending when the License
terminates, at an annual rental of One Dollar ($1.00) per year, all of
Licensor's right, title and interest
47
47
in and to such of the tools, dies and molds used by the Company solely and
exclusively for the manufacture of Electric Products for home (as distinguished
from commercial, industrial and/or institutional) use as Licensee shall select.
Such lease shall be subject to (i) the Company's right to use such tools, dies
and molds until August 31, 1996, i.e., the last day of the first optional
extension of the initial Production Period under Section 2.A. of the MSA and
(ii) the temporal parameters and other provisions that govern the removal of
tools, dies, molds, machinery and equipment set forth in Section 8.3 of the
Asset Purchase Agreement. The lease of the tools, dies and molds shall be on an
"as is", "where is" basis, and it shall be Licensee's responsibility to remove
the same from the Bronx Facilities at Licensee's sole risk and cost. Licensee
shall at all times maintain the tools, dies and molds and shall replace those
that break or wear out. Upon termination of the lease for any reason, or if for
any reason Licensee stops marketing an Electric Product ("discontinued product")
to which any individual tool, die or mold relates, such tools, dies and molds
(or, as the case may be, the individual tool, die or mold relating to a
discontinued product), or the replacements or replacement for any thereof which
shall have been destroyed or worn out, shall be delivered to Licensor at such
address as shall be specified by Licensor, contemporaneously with or prior to
such delivery.
18.15 The Term "Confidential Information" as used in this Section
18.15 shall mean any documentation, technical information, trade secrets,
customer circulation lists, marketing information or other information,
irrespective of whether it is marked "Confidential" which information is or has
been submitted or made available by any party to another pursuant to this
License Agreement, or
48
48
pursuant to the existing Non-Disclosure Agreement between the parties, other
than information which (i) at the time of disclosure by either party to the
other was in the public domain, or (ii) becomes part of the public domain
without any unauthorized act or omission by either party to whom such
information was disclosed or (iii) was or becomes available to the party
receiving such information on a non-confidential basis from a source (other than
the other party or its representatives) which is not prohibited from disclosing
such information by a legal, contractual or fiduciary obligation to such other
party, or (iv) was already in possession of the party receiving such information
at the time of disclosure by the disclosing party. Each of the parties agrees
that, during the term of this License Agreement and for a period of five years
from and after the expiration or earlier termination of this License Agreement,
it will keep confidential any Confidential Information disclosed to it by the
other party, and that neither it, nor any of its employees or agents, will
reproduce, publish or reveal Confidential Information of the other party to any
third party, except to a sublicensee or manufacturer or prospective sublicensee
or prospective manufacturer in each case who needs to receive such information
for purposes of the disclosing party's exercise of its rights and performance of
its obligations hereunder (in each such case, however, only if the prospective
recipient of such Confidential Information has agreed in writing to be bound by
the provisions of this Section 18.15 and the disclosing party shall have agreed,
and by this provision the disclosing party does hereby agree, as principal and
not as surety, to be responsible for the faithful performance of each of its
recipient's said agreements and liable for each of its recipient's breaches
thereof), and except as otherwise specifically contemplated by this License
Agreement, as
49
49
approved in advance in writing by the other party, or as required by law or by
subpoena or other legal process, provided that the other party is given prompt
notice of such subpoena or other legal process so that it may seek an
appropriate protective order. In addition, neither party, nor any of its
employees or agents, will make any use whatsoever of Confidential Information of
the other party except as expressly contemplated by the terms of this License
Agreement. All Confidential Information disclosed by either party to the other
shall (as between the parties) remain the exclusive property of the disclosing
party, except as otherwise expressly provided in this License Agreement. Neither
party will issue any public announcement or press release concerning the
transactions contemplated by this License Agreement without the prior approval
of the other party except to the extent (if any) that such announcement is
required by law.
18.16 Delivery of a facsimile counterpart of one or more
signature pages of this License Agreement purporting to bear the signature of a
party to this License Agreement by counsel to the party to this License
Agreement whose signature
50
50
is thus proffered shall suffice to evidence the due execution of this License
Agreement by such party hereto.
IN WITNESS WHEREOF, the parties hereto have caused this License
Agreement to be executed as of the day and year first above written.
FARBERWARE INC.
By:
-------------------------------------------
Name: Leonard Florence
Title: Chairman and President
SERVICE MERCHANDISE COMPANY, INC
By:
-------------------------------------------
Name: Gary Witkin
Title: President
51
I-1
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:
"Affiliate" means a Person that controls, is controlled by, or is
under common control with, another Person.
"Asset Purchase Agreement" means the Asset Purchase Agreement,
dated February 2, 1996, by and between the Company, Licensor, Syratech
Corporation and LHC pursuant to which the 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 (stainless
steel only), 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
fry 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 fry 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 and
roasters for
52
I-2
commercial, industrial and/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 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 Licensor 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 Licensor reserved 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" means electrical items for home (as
distinguished from commercial, industrial and/or institutional) use, whether or
not now invented or sold under the Farberware name, whether manufactured or
sourced by Licensor, including, by way of illustration and without limitation,
electric coffee makers, espresso machines, grinders, juicers, mixers, blenders,
food processors, electric knives, non-commercial slicers and peelers, deep
fryers, corn poppers, toasters, toaster ovens, convection ovens, microwave
ovens, hot plates, waffle and sandwich makers, bread makers, yogurt makers,
pasta machines, grills, griddles, frying pans, woks, warmers, can openers,
clothes irons and other small electrical appliances, and electric grooming aids
such as personal hair dryers, curling irons and other electric hair care
devices, nail care equipment, personal massagers and other small electric aids
and devices, electric clocks, lamps, lighting fixtures and other illumination
devices for indoor (as distinguished from outdoor) use, vacuum cleaners and
other electric cleaning and polishing devices, electric vehicles of all kinds
(including golf carts) electric lawn mowers, electric hedge trimmers, electric
leaf blowers and other electric yard, garden and lawn equipment of all kinds,
and communications, entertainment and electric sports equipment of all kinds;
excluding, however, (i) electric pepper mills, (ii) electric jewelry cleaning
machines, (iii) electric water dispensers and water filtration and/or purifying
devices, (iv) major consumer appliances (such as refrigerators, clothes washers,
clothes dryers, mangles, dishwashers, electric ranges and range hoods, (v)
pumps, motors, generators (including steam generators) and similar equipment,
(vi) outdoor grills with electric components, including rotisserie attachments
and electronic ignition systems, (vii) lamps, lighting fixtures and other
illumination devices for outdoor (as distinguished from indoor) use, and (viii)
sterilizers and medical and dental equipment of all kinds.
53
I-3
"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, 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.
"Existing Farberware Licenses" means Farberware Licenses
heretofore granted, or contracted to be granted, by the Licensor or the Company
(or any predecessor of the Company) that are, or are intended to be, valid and
subsisting and includes, without limitation, the license agreements identified
on Schedule V annexed to the License Agreement.
"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 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
foregoing) 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 Company and its subsidiaries) in
connection with the Farberware Business, including (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 Licensor on the Purchase Date.
"License Agreement" means the License Agreement, dated as of July
10, 1996 by and between Farberware Inc. (formerly known as Far-B Acquisition
Corp.) and Service Merchandise Company, Inc. ("Licensee") to which this Schedule
I 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.
54
I-4
"Licensed Marks" means Marks that are included among the Licensed
Intellectual Property Rights.
"Licensor's Costs" means the prices paid and/or to be paid by
Licensor to the Company for the Electric Products inventory that is to be
offered to the Licensee plus (i) the interest paid by Licensor on moneys
borrowed to purchase and carry the Electric Products inventory, (ii) expenses
incurred by Licensor in finally determining the purchase price payable to the
Company for the Electric Products inventory being sold to Licensee (including an
appropriate portion of costs incurred pursuant to Section 2.2(c) of the Asset
Purchase Agreement), (iii) all expenses incurred by Licensor in storing,
handling, loading and transporting Electric Products inventory being sold to the
Licensee, including the costs of transporting such inventory to Licensor's
warehouse, and (iv) Licensor's cost of insuring the Electric Products inventory
during the period of Licensor's ownership thereof.
"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 Syratech Corporation, LHC and Licensor.
"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.
"Marks" means trademarks and service marks.
"MSA" means the Manufacturing Services Agreement, dated April 2,
1996, between the Company and the Licensor.
"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.
55
I-5
"Royalty Payment" means a payment required to be made by Licensee
pursuant to Section 13.2 of the License Agreement.
"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.
"Year" means a calendar year.
1.2 INTERPRETATION. In this 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 or
Schedule means such Article, 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 License Agreement as a whole
and not to any particular Article, Section, subsection, clause 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
56
I-6
1.2.9 the headings contained in the License Agreement (including
the 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
Licensor, and Coudert Brothers, on behalf of Licensee. 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.
57
1
Schedule II
Intellectual Property Used Exclusively For Electric Products
------------------------------------------------------------
PATENTS
================================================================================
TITLE JURISDICTION SERIAL NO. PATENT NO.
================================================================================
ELECTRICAL WATER USA 796951 4165681
HEATER AND DISPENSER
- --------------------------------------------------------------------------------
FOOD PROCESSOR USA 790509 4113188
- --------------------------------------------------------------------------------
PERCOLATOR AND USA 900361 4147925
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
TEMPERATURE CONTROL USA 369969 4458140
APPARATUS FOR
CONVECTION OVEN
- --------------------------------------------------------------------------------
FOOD COOKING APPARATUS USA 544025 RE31833
- --------------------------------------------------------------------------------
ELECTRIC CAN OPENER USA 850369 D304286
WITH VERTICAL HEIGHT
ADJUSTMENT
- --------------------------------------------------------------------------------
HAND HELD CAN OPENER USA 922507 D301432
- --------------------------------------------------------------------------------
ELECTRIC PEELER USA 07/886443 D344429
- --------------------------------------------------------------------------------
PERCOLATOR AND BELGIUM 194824 875840
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
ELECTRICAL WATER CANADA 297305 1089523
HEATER AND DISPENSER
- --------------------------------------------------------------------------------
PERCOLATOR AND CANADA 312050 1071280
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
TEMPERATURE CONTROL CANADA 387563 1167135
APPARATUS FOR
CONVECTION OVEN
- --------------------------------------------------------------------------------
ELECTRIC CAN OPENER CANADA 3-10-86-4 59782
WITH VERTICAL HEIGHT
ADJUSTMENT
- --------------------------------------------------------------------------------
HAND HELD CAN OPENER CANADA 8-04-87-6 60902
- --------------------------------------------------------------------------------
58
2
================================================================================
TITLE JURISDICTION SERIAL NO. PATENT NO.
================================================================================
OVEN FRANCE 112708 72659
- --------------------------------------------------------------------------------
FOOD PROCESSOR FRANCE PV40557 40557
- --------------------------------------------------------------------------------
HAND HELD CAN OPENER FRANCE 872100 872100
- --------------------------------------------------------------------------------
PERCOLATOR AND GREAT 7838610 2022970
PARTITION PLATE HEATER BRITAIN
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
HAND-HELD CAN OPENER GREAT 1041372 1041372
BRITAIN
- --------------------------------------------------------------------------------
ELECTRIC CAN OPENER W GERMANY URA1290/86 MR2662
WITH VERTICAL HEIGHT
ADJUSTMENT
- --------------------------------------------------------------------------------
HAND HELD CAN OPENER W GERMANY URA556/87 MR27591
- --------------------------------------------------------------------------------
PERCOLATOR AND HONG KONG -- 915/85
PARTITION PLATE HEATER
ASSEMBLY
- --------------------------------------------------------------------------------
CONVECTION OVEN WITH A HONG KONG -- 869/1985
TEMPERATURE CONTROL
APPARATUS
- --------------------------------------------------------------------------------
TEMPERATURE CONTROL ISRAEL 64117 64117
APPARATUS FOR
CONVECTION OVEN
- --------------------------------------------------------------------------------
PERCOLATOR AND ITALY 22066A/79 1192350
PARTITION PLATE HEATER
ASSEMBLY
- --------------------------------------------------------------------------------
PERCOLATOR AND JAPAN 32421/79 1093333
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
PERCOLATOR AND PORTUGAL 68945 68945
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- --------------------------------------------------------------------------------
PERCOLATOR AND SWEDEN PAT7903636 PUB430649
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
================================================================================
59
3
TRADEMARKS
===========================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
TURBO-OVEN Cooking oven USA 992831 --
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking USA 1157193 --
TURBO-OVEN ovens for
domestic use
- -------------------------------------------------------------------------------------------
FARBERWARE Electric kitchen USA 1447147 --
utensils, namely
combination
knife sharpener
and can opener
- -------------------------------------------------------------------------------------------
MILLENNIUM Electric griddles USA 1819460 --
and electric
skillets
- -------------------------------------------------------------------------------------------
FARBER PEEL Electric peeling USA 1897955 --
machine
- -------------------------------------------------------------------------------------------
FARBERSEAL Portable electric USA 1783231 --
kitchen machine
for heat sealing
bags
- -------------------------------------------------------------------------------------------
PASTAPRO Electric pasta USA -- 74/535282
maker
- -------------------------------------------------------------------------------------------
HEALTHY Indoor electric USA 1851074 --
GOURMET grills for
(THE) domestic use
- -------------------------------------------------------------------------------------------
HEALTHY Electrical USA -- 74/433708
GOURMET cooking
(THE) BY appliances
CONTEMPRA &
DESIGN (CHEF'S
HEAD W/C)
- -------------------------------------------------------------------------------------------
MULTI-GRATER Electric grater USA -- 74/666193
- -------------------------------------------------------------------------------------------
60
4
===========================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
FARBERWARE Electric woks, ARGENTINA 1107485 --
casseroles, fry
pans and
griddles, food
cooking
machines,
electronic
coffeemakers
- -------------------------------------------------------------------------------------------
FARBERWARE Electric coffee AUSTRALIA B399468 --
grinders,
electrically
operated food
and beverage
processing
appliances, food
mixers
- -------------------------------------------------------------------------------------------
FARBERWARE Electric woks, AUSTRALIA B404684 --
casseroles, fry
pans and
griddles, food
cooking
machines,
electronic
coffeemakers
- -------------------------------------------------------------------------------------------
61
5
===========================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
[MILLENNIUM Electrical AUSTRALIA A553506 --]
cookware,
bakeware
including electric
griddles, electric
skillets, electric
woks, ovens,
electric
coffeemakers,
electric grills/
broilers, electric
wafflemakers/
sandwich
makers, electric
toasters and
electric food
warmers and
other electric
housewares in
Class 11; part,
fittings and
accessories
therefor
- -------------------------------------------------------------------------------------------
MILLENNIUM Electric flat irons AUSTRALIA A605485 --
- -------------------------------------------------------------------------------------------
FARBERPEEL Electrically AUSTRALIA A572702 --
operated food
and beverage
processing
appliances
- -------------------------------------------------------------------------------------------
FARBERSEAL Electric AUSTRALIA A572703 --
appliances,
including
portable electric
kitchen machines
for heat sealing
bags
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking BENELUX 515303 --
TURBO-OVEN ovens for
domestic use
- -------------------------------------------------------------------------------------------
62
6
===========================================================================================
MARK GOODS JURISDICTION EGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
MICROBREW Electronic coffee BENELUX 472044 --
makers
- -------------------------------------------------------------------------------------------
FARBERWARE Electric BRAZIL 811438325 --
apparatus for
personal use and
household
appliances
- -------------------------------------------------------------------------------------------
FARBERPEEL Electric peeling CANADA 409873 --
machine
FARBERSEAL Portable electric CANADA 409872 --
kitchen machine
for heat sealing
bags
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking DENMARK 1579-1983 --
TURBO-OVEN ovens for
domestic use
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking FRANCE 1193445 --
TURBO-OVEN ovens
- -------------------------------------------------------------------------------------------
FARBERWARE Electric kettles GREAT 876697 --
and electric BRITAIN
coffee
percolators
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking GREAT B1168353 --
TURBO-OVEN ovens BRITAIN
- -------------------------------------------------------------------------------------------
FARBERWARE Ovens, GREAT B1205914 --
electrically BRITAIN
heated woks,
frying pans and
casserole dishes
- -------------------------------------------------------------------------------------------
63
7
===========================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
FARBERWARE Electric GREAT B1485061 --
MILLENNIUM cookware and BRITAIN
bakeware;
electric griddles,
electric skillets,
electric woks,
ovens, electric
grills, electric
broilers, electric
waffle makers,
sandwich makers,
coffee makers,
electric food
warmers and
electric toasters
- -------------------------------------------------------------------------------------------
FARBERWARE Electric cooking W GERMANY 1045089 --
CONVECTION ovens
TURBO-OVEN
- -------------------------------------------------------------------------------------------
FARBERWARE Various specified ISRAEL 57748 --
electric products
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking ITALY 402068 --
TURBO-OVEN ovens for
domestic use
- -------------------------------------------------------------------------------------------
MILLENNIUM Electric ITALY 610847 --
cookware,
bakeware,
houseware and
parts therefor
- -------------------------------------------------------------------------------------------
FARBERWARE Various specified MALAWI 203/83 --
electric products
- -------------------------------------------------------------------------------------------
FARBERPEEL Electric peeling MEXICO 429889 --
machine
- -------------------------------------------------------------------------------------------
FARBERSEAL Portable kitchen MEXICO 425167 --
machine for heat
sealing bags
- -------------------------------------------------------------------------------------------
64
8
===========================================================================================
MARK GOODS JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
===========================================================================================
FARBERWARE Various specified PERU 286864 --
electric products
- -------------------------------------------------------------------------------------------
FARBERWARE Various specified PORTUGAL 224160 --
electric products
- -------------------------------------------------------------------------------------------
FARBERWARE Electric woks, PORTUGAL 224161 --
electric
casseroles and
electric fry pans
- -------------------------------------------------------------------------------------------
FARBERWARE Coffee grinders, PORTUGAL 224163 --
food processors
- -------------------------------------------------------------------------------------------
CONVECTION Electric ovens SPAIN 995517 --
TURBO-OVEN for cooking
- -------------------------------------------------------------------------------------------
FARBERWARE Coffee grinders, SPAIN 1054534 --
food processors
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking SWEDEN 185270 --
TURBO-OVEN ovens
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking SWITZERLAND 319496 --
TURBO-OVEN ovens for
domestic use
- -------------------------------------------------------------------------------------------
FARBERWARE Various specified SWITZERLAND 328759 --
electric products
- -------------------------------------------------------------------------------------------
CONVECTION Electric cooking TAIWAN -- 84037400
TURBO-OVEN ovens
- -------------------------------------------------------------------------------------------
FARBERWARE Various specified ZIMBABWE B560/83 --
electric products
===========================================================================================
65
1
SCHEDULE III
PATENTS
===============================================================================================
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
- -----------------------------------------------------------------------------------------------
66
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 14-07-89-11 65031
- ------------------------------------------------------------------------------------------------
67
3
================================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
================================================================================================
MICROWAVE DRIP COFFEE FARBERWARE, INC. CANADA 2009862-7 --
MAKER
- ------------------------------------------------------------------------------------------------
BREWING APPARATUS FARBERWARE, INC. CHINA 89301508.3 4331
- ------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. DENMARK 546/83 156941
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------
MICROWAVE DRIP COFFEE FARBERWARE, INC. EPC 90300670.8 --
MAKER
- ------------------------------------------------------------------------------------------------
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 P3327476.2-45 P3327476.2
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------
ELECTRIC CAN OPENER KIDDE CONSUMER GERW URA1290/86 MR26622
WITH VERTICAL HEIGHT DURABLES
ADJUSTMENT CORPORATION
- ------------------------------------------------------------------------------------------------
HAND HELD CAN OPENER KIDDE CONSUMER GERW URA556/87 MR27591
DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------
BREWING APPARATUS KIDDE CONSUMER GERW M8904879.2 M8904879
DURABLES
CORPORATION
- ------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. GREC 72052 79598
OF MAKING THE SAME
- ------------------------------------------------------------------------------------------------
68
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/79 1192350
PARTITION PLATE HEATER
ASSEMBLY
- --------------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. ITALY 22281A/83 1170183
OF MAKING THE SAME
- --------------------------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------------------------
69
5
=============================================================================================
TITLE OWNER JURISDICTION SERIAL PATENT
NO. NO.
=============================================================================================
BREWING APPARATUS FARBERWARE, INC. SPAIN 119534 119534
- ---------------------------------------------------------------------------------------------
PERCOLATOR AND FARBERWARE, INC. SWEDEN PAT7903636 PUB430649
PARTITION PLATE HEATER
ASSEMBLY THEREFOR
- ---------------------------------------------------------------------------------------------
COOKWARE AND METHOD FARBERWARE, INC. SWEDEN PAT8304191-3 PUB456895
OF MAKING THE SAME
- ---------------------------------------------------------------------------------------------
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 73102768A01 171457
COOKWARE
=============================================================================================
TRADEMARKS
=============================================================================================
MARK OWNER JURISDICTION REGISTRATION APPLICATION
NUMBER NUMBER
=============================================================================================
TURBO-OVEN FARBERWARE, INC. USA 992831 -
- ---------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, INC. USA 601591 -
- ---------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, INC. USA 806655 -
- ---------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, INC. USA 804130 -
- ---------------------------------------------------------------------------------------------
OPEN HEARTH FARBERWARE, INC. USA 754975 -
- ---------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, INC. USA 1122167 -
- ---------------------------------------------------------------------------------------------
CONVECTION FARBERWARE, INC. USA 1157193 -
TURBO-OVEN
- ---------------------------------------------------------------------------------------------
ADVANTAGE FARBERWARE, INC. USA 1226680 -
- ---------------------------------------------------------------------------------------------
FARBERWARE FARBERWARE, INC. USA 1410374 -
- ---------------------------------------------------------------------------------------------
70
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.
- ---------------------------------------------------------------------------------------------
71
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.
- ---------------------------------------------------------------------------------------------
72
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.
- ---------------------------------------------------------------------------------------------
73
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.
- ---------------------------------------------------------------------------------------------
74
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.
- ---------------------------------------------------------------------------------------------
75
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.
- ---------------------------------------------------------------------------------------------
76
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.
- ---------------------------------------------------------------------------------------------
77
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.
- ---------------------------------------------------------------------------------------------
78
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.
- ---------------------------------------------------------------------------------------------
79
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
- ---------------------------------------------------------------------------------------------
80
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
=============================================================================================
81
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"
82
1
SCHEDULE IV
1. As part of the closing under the Asset Purchase Agreement,
the Company assigned to Licensor whatever rights the Company then had in U.S.
Patent 4,645,909; however, the Company did not make any representation or
warranty as to the extent of the Company's rights, if any, in such patent.
Licensor has not made, and is not making, any representation or warranty as to
the extent of Licensor's rights, if any, in such patent.
2. The Company has advised Licensor that Worldtronics
International, Inc. has threatened to bring a claim against the Company alleging
that the Company has infringed its rights in a patent for a timing device which
were included in coffee makers sold by the Company but sourced elsewhere. The
Company has provided Licensor with the following information concerning the
affected products:
WORLDTRONICS
- ------------
MODEL NO. UNITS
- --------- -----
1989 1990 1991 1992
---- ---- ---- ----
L4236 1,736 2,563 3,157 124
L4836 2,603 4,113 3,826 165
To summarize, over a four year period the Company sold 18,287 units. The above
products were originally sourced from Spartus, which acquired them from E.N.E.
In January, 1996, the Company offered Worldtronics a $5,000 settlement, which
the Company has estimated would have equated to a 9% royalty.
83
1
SCHEDULE V
Existing Farberware 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," as amended by side letter of even date therewith
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 December 14, 1989 by and between Farberware, Inc.
and Lifetime Cutlery Corp. relating to the name "Farberware," as
supplemented by letter dated November 16, 1990(1)
4. Dinnerware License Agreement by and between Farberware, Inc. and Excel
Cutlery, Inc. dated July 15, 1995
5. Flatware License Agreement by and between Farberware, Inc. and Excel
Cutlery, Inc. dated July 15, 1995
6. Glass Gift/ServeWare License Agreement by and between Farberware, Inc.
and Excel Cutlery, Inc. dated July 15, 1995
7. Glass Beverageware License Agreement by and between Farberware, Inc. and
Excel Cutlery, Inc. dated July 15, 1995
8. License Agreement by and between Farberware, Inc. and Creative Designs
International Ltd. dated January 1, 1994 relating to the name
"Farberware"
9. License Agreement by and between Farberware Inc. and Meyer Marketing Co.,
Ltd., dated June 27, 1996.
- ------------------
(1) Rights of the licensee hereunder have effectively been substantially
extended and modified by an agreement dated as of February 2, 1996 by and
among Syratech Corporation, Lifetime Hoan Corporation and Far-B
Acquisition Corp.