EXHIBIT 10.8C
August 10, 1993
Mr. Joseph Allen
Brant-Allen Industries, Inc.
80 Field Point Road
Greenwich, Connecticut 06830
Dear Joe:
This letter is to set forth our understanding on several matters relating
to the contracts ("Newsprint Contracts") between the parties dated May 19,
1978, and amended on April 1, 1987 and December 10, 1991.
1. The pricing formula in the Newsprint Contracts will be amended, as set
forth in the accompanying August 10, 1993 Amendment, to be effective in 1993
as of July 1, and in 1994. At the end of 1994 the partners will review the
formula to determine whether it fairly reflects competitive market pricing of
Eastern newsprint for volume levels similar to those in the Newsprint
Contracts. In the absence of agreement among the parties, pricing will not
revert to the formula that existed prior to this August 10, 1993 amendment of
the Newsprint Contracts.
2. The price paid by Dow Jones and The Washington Post for newsprint
purchased in the first half of 1993 shall not exceed the estimated prices paid
by Dow Jones and The Washington Post during the first half of 1993. During
1993 only, the "Partners' Price" under the Newsprint Contracts shall be
calculated separately for the first and second halves of the year based on the
average Net Transaction Price for the first and second halves of the year
respectively.
3. In order to reflect the current industry practice of premium discounts
in prices of lighter basis weight newsprint, during 1993 the list price for
45-gram basis weight newsprint will be converted into (or from) the list price
for 48.8 grant basis weight newsprint by dividing (or multiplying) the 45-gram
list price by 1.0715.
Sincerely,
DOW JONES & COMPANY, INC.
By: /s/ Kevin J. Roche
------------------
Kevin J. Roche
Agreed to and accepted: THE WASHINGTON POST
/s/ Joseph Allen By: /s/ Martin Cohen
- ------------------ ----------------
Martin Cohen
Brant-Allen Industries, Inc.
General Partner
August 10, 1993
Bear Island Paper Company
Route 738
Ashland, Virginia 23005
Dear Sirs:
This Agreement will confirm that the newsprint purchase
contract between Bear Island and Dow Jones & Company, Inc. dated
May 19, 1978, and amended on April 1, 1987 and December 10, 1991 is
further amended as follows:
In the first sentence of Section 3, the words
"January 1, 1992" shall be deleted, and the words "July 1, 1993"
shall be substituted in place thereof.
The first sentence of Section 3(d) shall end after the
word "equally" and the remainder of the sentence ("such average
not...calendar year") shall be deleted.
In all other respects, the contract shall remain the
same.
If the foregoing accurately reflects our agreement,
please execute this letter agreement in the space provided below.
Very truly yours,
DOW JONES & COMPANY, Inc.
By: /s/ Kevin J. Roche
_____________________________
Name: Kevin J. Roche
Accepted and agreed upon: Accepted and agreed upon for
BEAR ISLAND PAPER COMPANY purposes of providing and verifying
past prices:
By: Brant-Allen Industries, THE WASHINGTON POST COMPANY
Inc.
General Partner
By: /s/ Joseph Allen By: /s/ Martin Cohen
______________________ ____________________________
Name: Joseph Allen Name: Martin Cohen