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| JEN > SEC Filings for JEN > Form 8-K on 8-Sep-2009 | All Recent SEC Filings |
8-Sep-2009
Entry into a Material Definitive Agreement, Financial Statements and Ex
On September 4, 2009 we entered into a sixth amendment ("Amendment No. 6") to the Warehousing Agreement between a related private company (the "private company"), Jennifer Warehousing, Inc., our wholly owned subsidiary, and us dated as of July 6, 2001, as amended (the "Warehousing Agreement"). Pursuant to the Warehousing Agreement, the private company became the sole obligor on all lifetime fabric and leather protection plans sold by us or the private company on and after June 23, 2002 through August 28, 2004, (which term was previously extended through August 29, 2009), and assumed all performance obligations and risk of loss there under. The private company is entitled to receive a monthly payment of $50,000 payable by us 85 days after the end of the month, subject to an adjustment based on the volume of annual sales of the plans. We retain any remaining revenue from the sales of the plans. In addition, for a payment of $400,000 by us, the private company also assumed responsibility to service and pay any claims related to sales made by us or the private company prior to June 23, 2002.
Pursuant to Amendment No. 6, the terms of the Warehousing Agreement are extended effective August 30, 2009 through August 28, 2010.
The description of Amendment No. 6 set forth herein does not purport to be complete and is qualified in its entirety by the full text of Amendment No. 6, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
(d) Exhibits
10.1 Amendment No. 6 to Warehousing Agreement, by and among Jennifer Convertibles, Inc., Jennifer Warehousing, Inc., and Jara Enterprises, Inc., dated September 4, 2009.
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