2006 Grand American Road Racing Series Sponsorship Agreement between PLP and Ruhlman Motor Sports
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Summary
PLP agrees to sponsor Ruhlman Motor Sports as their primary sponsor for the 2006 Grand American Road Racing Series, providing a total of $950,000 in sponsorship fees. The payment is structured in installments: $500,000 upfront, followed by $250,000 in March, $100,000 in April, and $100,000 in May 2006. Both parties aim to maximize marketing opportunities and work together to promote PLP through the racing program during the season.
EX-10.1 2 l24288aexv10w1.htm EX-10.1 EX-10.1
Exhibit 10.1
P.O. BOX 91129 l CLEVELAND, OHIO 44101 l (440 ###-###-####
DENNIS McKENNA
VICE PRESIDENT
GLOBAL BUSINESS DEVELOPMENT
VICE PRESIDENT
GLOBAL BUSINESS DEVELOPMENT
7 February 2006
Mr. Randy Ruhlman
Ruhlman Motor Sports
2403 Deer Track Lane
Greensboro, NC 27455
Ruhlman Motor Sports
2403 Deer Track Lane
Greensboro, NC 27455
Dear Randy,
This letter will confirm our return as your primary sponsor for the Grand American Road Racing Series in 2006. It is unfortunate that the recent demise of the Trans-Am Series will not allow you to build on the terrific season you had last year but we look forward to further exploring the additional marketing opportunities the Grand American Series appears to offer.
As we discussed, PLP® is providing a total of $950,000 in sponsorship fees for the 2006 season. Enclosed is the first installment of $500,000. The payment schedule for the remainder of the 2006 sponsorship fee will be as follows:
| March 2006: | $ | 250,000 | ||||||
| April 2006: | $ | 100,000 | ||||||
| May 2006: | $ | 100,000 |
I once again look forward to working closely with you and Cristi to identify ways to enhance the effectiveness and impact of the racing program for PLP and stand ready to support your efforts as you transition into the new series.
Racing provides us with a unique venue for strengthening our relationships with customers and all of us within the Marketing and Sales group look forward to working closely with you, Cristi and your team in 2006.
| Best Regards, | ||||
| /s/ Dennis F. McKenna | ||||
| Vice President, Marketing and Business Development | ||||
| cc: R.G. Ruhlman |
