Supplemental Agreement No. 6 to Contract No. RU/10325105/30197 and Assignment Agreement

Summary

This agreement is between Pioglobal Forest L.L.C., Pioneer Forest, Inc., and Forest-Starma. It updates a previous contract and an assignment agreement by changing the payment terms for goods and correcting a date in a prior supplemental agreement. The new payment terms require the buyer to pay within 30 days of receiving an invoice, but no later than four years after customs clearance in Russia. The agreement also amends the execution date of a previous supplemental agreement. All parties have signed to confirm these changes.

EX-10.1 3 dex101.txt SUPPLEMENTAL AGREEMENT NO. 6 Exhibit 10.1 Supplemental Agreement No 6 to Contract No RU/10325105/30197 dated April 25, 1997 and to Assignment Agreement dated January 23, 2002 Boston, Massachusetts April 17 2002 This Supplemental Agreement No 6 is made between company Pioglobal Forest L.L.C. (hereinafter referred to as "Company"), corporation Pioneer Forest, Inc. (hereinafter referred to as "PFI") and closed joint-stock company Forest-Starma (hereinafter referred to as "Forest-Starma"). The Company, PFI and Forest-Starma are hereinafter jointly referred to as "Parties" and each of them is hereafter separately referred to as "Party" 1. Item 4.1 of Contract No RU/10325105/30197 dated April 25, 1997, must be rephrased as follows: "4.1. The Buyer shall make payments for each batch of Goods in USD not later than 30 days after receipt of the invoice and in any case not later than 4 years after the Goods have been cleared of the customs formalities on the territory of the Russian Federation. The invoice must be submitted by the Seller to the Buyer after the Goods have been cleared of the customs formalities on the territory of the Russian Federation. The payments must be made by wire-transfer from the bank account of the Buyer to the bank account of the non-resident which is a Party to the present Contract. 2. In the Assignment Agreement dated January 23, 2002, the execution date of Supplemental Agreement No 5 to Contract No RU/10325105/30197 shall be changed to read "June 20, 2001" (instead of "July 20, 2001"). Pioglobal Forest, L.L.C. CJSC "Forest-Starma" /s/ Donald H. Hunter /s/ David Daggett - ----------------------------- ------------------------ Donald Hunter David Daggett Vice-President General Director /s/ Valery Limarenko ------------------------ Pioneer Forest, Inc. Valery Limarenko First Deputy General Director /s/ Stephen Kasnet - ----------------------------- Stephen Kasnet /s/ Nadezhda Obukhova ------------------------ President Nadezhda Obukhova Deputy Chief Accountant