Document 5BKbr2vzMao9qOrM7xaaMRLe

June SO, m2 Ur, Edwin L. Bokin, President Union Asbestos & Bubber Coupe oy 332 South Michigan Arsons Chie*ito 4, Illinois Deer Mr. Ho kin: Pittaburgh Corning Corporation hereby nukes tho following propooai to Union Asbestos A Babbor Coupanyt 1. PC will leans to Union on August 31, 1962 it* intoreatfro#, nan-negotiable proulaeory not#, bearing said data, in a fao# amount equal to Union* a aggregate opan account* receivable balances aa of August 31, 1962 (to the extent that sueh balaoeoa represent aaloa by Union of the Uniboatoa product) of the following eoupenies. 1. Ibi Abor Coupeay, Inc. - Bonatoo, Toxaa, 2. Allied Sarrioaa, Inc. - Chari#*ton, Vest Virginia 3. Gablor Inaulation - Now Orlaana, Louiaiana 4. Inaulation Sorrieos, Inc. - Tula*, Oklahoma 6. Jaaar Olaao - Melrose Park, Illinois Cootoaporanoonaly with the iaauaoc* of aaid not#, Union will ozacuto and doliwor to Pittaburgh Corning an appropriate ioatruaant assigning aaid aooonnta raeairabla to Pittsburgh Corning. Tha no to shall ba dna and payable on March 31, 1963, in tba faea aMount thereof leas tha amount of any payments which Pittaburgh Corning has asda on account thereof. In thia connection, with raapwet to any cue of the above-mentioned companies which Pittaburgh Corning aalaeta aa a customer af its Uniboatoa produet, Pittsburgh Corning will promptly pay owar to Union all payments which it raeairwa fro* such customer aa such account balance until such payment* so paid oror to Union equal tba amount of such customer* a aforesaid account balance; and all such payeento made by Pittaburgh Coming shall be credited agaioat aaid note and tha amount due thereunder by Pittsburgh Corning to Union shall bo reduced by tha aggregate auonnt of such payments. THIS DOCUMENT WAS NOT A RECORD OF PPG INDUSTRIES, INC. DID NOT COME FROM IT'S FILES AND CANNOT BE AUTHENTICATED BY PPG INDUSTRIES, INC. j BB 0024271 i4 Ur. KtNin E. Eekin 2 June W, 1932 2. At the mb* tint, Dnioo, at it* option, mill execute and deliver to Pittoburgh Coming an appropriate lastrwent eaeigniog Union'a *p*n aoeonat and not* rootirablt balance aa of August 31, 1932 (to the extent that each balance r*pr*e*nta uli by Union ef the Uniboetoa pro due t) #f E. B. Kaieer Company, Glenview, Illinoie. In this *on- section, if Pittsburgh Corning aelecta Kaiser a* a enatomer f ita Uniboetoa product, Pitta burgh earning will' promptly pay ortr to Union all payments which It reeeiT** from eueh ouatoner on each aeeoust and note balances until the said balance* are liquidated. If Mid aeeount and not* balance bare not boon liqnidatod by Auguat 31, 1933, Union shall, at Pittabnrgh Corning*a option, aecepl dolirery of an appropriate instrument oxoentod by Pittsburgh Corning hereby it reaesigus to Union the bolance doe at that time on inch aeeount and note receivables. Pittsburgh Coming shall not bo required to make any payment* on the abort- mentioned account and not* bolane*a except aa provided for in this paragraph No. 2. r )J > > j } 3. Koch such instrument of assignment ha'11 contain a warranty by the assignor that such instrument will effect the transfer to the aeaignoe of a good and marketable title to all such accounts receivable froe and clear of ill liens and encumbrances. A condition of the foregoing proposal shall be that the contemplated purchase by Pittsburgh Coming of Union's facilities for the manufacture. of Unibestos shall be eonsumoated on July 2, 1932. If the foregoing proposal is acceptable to Union, please indicat by countersigning and raturniog to me the attached extra copy of this l.ttor. KB: oh eoc. Very truly yours fa/ HussulT 2-ji.tin-! Huaaell Brittingjaa Countersigned: Union Asbestos k Kubber Company By: TJvin I~. ilokin THIS DOCUMENT WAS NOT A RECORD OF PPG INDUSTRIES, INC. DID NOT COME FROM IT'S FILES AND CANNOT BE AUTHE. !TICA< ED BY PPG INDUSTRIES. INC. - 614