Amendment to Consignment Agreement between Fleet Precious Metals Inc. and Technitrol, Inc. & AMI Doduco, Inc.
This letter amendment, dated November 12, 2004, modifies the existing Consignment Agreement between Fleet Precious Metals Inc. (doing business as Bank of America Precious Metals) and Technitrol, Inc. and AMI Doduco, Inc. The amendment changes the maximum value of consigned commodities to $33,000,000, or another limit agreed upon by the parties or approved by the consignor. All other terms of the original agreement remain unchanged and in effect.
November 12, 2004
Technitrol, Inc.
1210 Northbrook Drive, Suite 385
Trevose, PA 19053
AMI Doduco, Inc.
Murray Corporate Park
1003 Corporate Drive
Export, PA 15632
Gentlemen:
Upon your acceptance of the terms of this letter agreement as evidenced by your execution and delivery to Fleet Precious Metals Inc. d/b/a Bank of America Precious Metals (the "Consignor"), on or before the date hereof, of a copy of this letter, Technitrol, Inc. and AMI Doduco, Inc. (f/k/a Advanced Metallurgy, Incorporated) (collectively, the "Customer") and the Consignor agree, effective as of the date hereof to amend the fifth sentence of Paragraph 1 of that certain Consignment Agreement dated as of November 18, 1997, by and between the Consignor and the Customer, as the same may have been heretofore amended (as amended, the "Consignment Agreement"), to read as follows:
At no time shall the value of consigned commodities exceed (i) $33,000,000; (ii) such limit as the parties may agree upon; or (iii) such limit as Consignor may approve in its sole discretion ("Consignment Limit").
Except as amended hereby, the Consignment Agreement and all agreements securing the Consignment Agreement shall remain in full force and effect and are in all respects hereby ratified and affirmed.
Sincerely,
FLEET PRECIOUS METALS INC.
D/B/A BANK OF AMERICA
PRECIOUS METALS INC.
Consignor
By: /s/ Anthony J. Capuano
Anthony J. Capuano
Senior Vice President
Technitrol, Inc.
AMI Doduco, Inc.
November 12, 2004
Page 2
ACCEPTED AND AGREED AS OF THE
12TH DAY OF NOVEMBER, 2004.
TECHNITROL, INC.
Customer
By: /s/ Drew A. Moyer
Drew A. Moyer
Senior Vice President and Chief Financial Officer
AMI DODUCO, INC.
Customer
By: /s/ Thomas J. Considine, Jr.
Thomas J. Considine, Jr.
Treasurer
The above signatory has the authority to execute the above amendment on behalf of Technitrol, Inc.
TECHNITROL, INC.
By: /s/ Thomas J. Considine, Jr.
Thomas J. Considine, Jr.
Vice President Treasurer and Secretary
The above signatory has the authority to execute the above amendment on behalf of AMI Doduco, Inc.
AMI DODUCO, INC.
By: /s/ Drew A. Moyer
Drew A. Moyer
Secretary
