Amendment to Agreement Between Getzler Henrich & Associates LLC and Ronson Corporation (June 24, 2010)

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment updates the agreement between Getzler Henrich & Associates LLC and Ronson Corporation (including its subsidiaries), extending the agreement's end date from June 30, 2010, to July 31, 2010. It also confirms that, as of June 18, 2010, Ronson Corporation owes Getzler Henrich $1,872,951.61 in fees, expenses, and a signing bonus, which is due in full. The agreement remains unchanged in all other respects. Wells Fargo Bank, National Association consents to this amendment.

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EX-10.1 2 ex10_1.htm LETTER ex10-1.htm
Exhibit 10.1
 


 
    As of June 24, 2010
 
Mr. Louis V. Aronson
President and Chief Executive Officer
Ronson Corporation
Corporate Park III, Campus Drive
 
Somerset, NJ 08875
 
Dear Mr. Aronson:
 
Reference is made to the Agreement dated March 30, 2009, as previously amended (the “Agreement”) between Getzler Henrich & Associates LLC (“Getzler Henrich”) and Ronson Corporation (together with its subsidiaries, the “Company”).
 
By signing below, please confirm that:
 
(i)           The date "June 30, 2010" in the two places where it appears in the Agreement is amended to be "July 31, 2010"; and
 
(ii)           On and as of June 18, 2010, the Company owes $1,872,951.61, consisting of $1,672,951.61 in fees and expenses and $200,000 in Signing Bonus, to Getzler Henrich under the Agreement, and such amount is owing and payable in full, without offset, deduction or counterclaim of any kind or character whatsoever.
 
Should another extension to the term of the Agreement be required, Getzler Henrich will furnish the Company a proposed extension letter on or before July 16, 2010.
 
[balance of page left blank]
 
 
 
 
   

The Agreement is, in all other respects, ratified and confirmed.
 
 
    Very truly yours,
       
    GETZLER HENRICH & ASSOCIATES LLC
       
    By: /s/ Joel Getzler
      Vice Chairman
      
 
    Agreed to and accepted:
 
RONSON CORPORATION
 
By:  /s/ Joel Getzler
       Name: Joel Getzler
       Title:    Chief Restructuring Officer
 
RONSON CONSUMER PRODUCTS CORPORATION
 
By:  /s/ Joel Getzler
       Name: Joel Getzler                                         
       Title:   Chief Restructuring Officer
 
RONSON AVIATION, INC.
 
By:  /s/ Joel Getzler 
       Name: Joel Getzler
       Title:   Chief Restructuring Officer
 
RONSON CORPORATION OF CANADA LTD.
 
By: /s/ Joel Getzler
       Name:  Joel Getzler
       Title:    Chief Restructuring Officer
 
Consented to:
 
WELLS FARGO BANK, NATIONAL ASSOCIATION

By           /s/ Peter L. Gannon
Name:        Peter L. Gannon
Title:          Vice President