Document Rp7QyBooNEg0Dr59qVM2n5baE

Monsanto Chemical Company St. Louis 24, Missouri Oiias. II. Sommer Vice President July 2, 1958 VAULT COPY Return to Office of the Secretary Capacitor Department General Electric Company Hudson Palls, New York Gentlemen: The General Electric Company is asserting a claim against _ Monsanto Chemical Company for loss and damages arising out of alleged defective Aroclors sold and supplied by Monsanto Chemical Company to the General Electric Company during August, 1956, and Monsanto Chemical Company denies any liability to General Electric Company in connection with such claim. As full payment and In compromise settlement of such claim and for a release from General Electric Company to Monsanto Chemical Company of such claim, Monsanto Chemical Company agrees to grant General Electric Company, and General Electric Company accepts, a credit one and one-half cents (l-l/2fQ per pound for all Aroclors sold by Monsanto Chemical Compimy and purchased by the Departments of the Transformer Division of General Elec tric Company (namely, the Capacitor Department, the Power Trans former Department, the Medium Transformer Department, and the ; ,Distribution Transformer Department), beginning June 1, 1953 until such credit reaches a maximum of One Million Dollars ($1,000,000) or until May 31, 1970* whichever is sooner. The price of Aroclors against which this credit Is applied shall be Monsanto Chemical Company's best market or negotiated price for Aroclors of the same type, quality and quantity, and If Monsanto Chemical company sells to another purchaser Aroclors of the ssme type, quality and quantity at lower prices than those sold to General Electric Company, General Electric Company shall be entitled to similar prices on its purchases, and this one and one-half cents per pound credit shall be nrrlled against such prices. This credit will be Issued on a quarterly basis and will be paid within thirty (30) days following the completion of each calendar quarter. The first credit will actually cover a period of four months, since this letter agreement Is effective Jim 1, 1953* All credits issued to General Electric Company in accord" anoe with this arrangement shall be Issued directly to the Capacitor Department of General Electric Company, even though DSW 620127 STLCOPCB4094154 2 Capacitor Department General Electric Company Hudson Falls# New York July 2, 1958 the purchases upon which the credit is based are made by the other Departments of General Electric Company's Transfomer Division. Very truly yours Accepted} By* GENERAL ELECTRIC COMPANY DSW 620128 STLCOPCB4094155