Exhibit 4.2
Supply and Purchase Agreement
This Agreement is made on December [***] by and between
Stevanato Group SPA, an Italian corporation with its registered office at via Molinella 17, 35017 Piombino Dese (PD) Italy, represented by Mr. Franco Moro, CEO (hereinafter called “SG”)
And
Nippon Electric Glass Co., Ltd.: a Japanese corporation with its registered office at 7-1, Seiran 2-chome, Otsu, Shiga, Japan, represented by Akira Kishimoto, Senior Vice President (hereinafter called “NEG”)
WHEREAS, SG desires to buy from NEG certain products hereinafter specified, and
WHEREAS, NEG is willing to sell to SG such products,
NOW THEREFORE, in consideration of undertaking of the parties herein contained, the parties hereto do hereby agree as follows:
Article 1. Definitions
1) The term “Products” means neutral glass tubing described in the Appendix 1 of this Agreement.
2) The term “Individual Contract” means an individual contract to be made between SG and NEG for sale of the Products hereunder.
3) The term “Affiliates” means any entity which indirectly or directly through stock ownership or through other arrangements either controls, or is controlled by or is under common control with, a party hereto.
Article 2. Sales Volumes
For purposes of this Agreement, “Year” means Twelve-month period from [***].
Article 3. Individual Contract and prospective Demands
2) By the end of each quarter, SG shall send NEG a six-month non-binding rolling demands forecast stating the purchase quantities by month by each item of the Products covering next two quarters. For purposes of this Agreement, “quarter” means three-month period starting on [***] in each year during the term of this Agreement.
3) NEG shall, upon SG’s written request, inform SG of the type and quantity of the Safety Stock (as defined below) [***].
4) The Products hereunder may be purchased by SG or any of its Affiliates (there including Nuova OMPI s.r.l., Medical Glass a.s., OMPI North America S. de R.L. de CV., OMPI Pharmaceutical Packing Technology (China) Co., Ltd., Ompi of America Inc. (U.S.A.) and Ompi do Brasil Industria Comercio De Embalagens Farmaceuticas LTDA), from NEG or its Affiliates, Nippon Electric Glass (Malaysia) Sdn. Bhd. Each SG and NEG shall impose obligations to perform the terms and conditions hereunder on Affiliates above-mentioned and shall be fully responsible for performance of this Agreement by such Affiliates.
5) SG shall be jointly and severally liable with its Affiliates above-mentioned for the performance of all obligations hereunder by the Affiliates, including, without limitation the payment for the Products stipulated in Article 8 hereunder. If the Affiliates of SG shall in any respect be determined by NEG, to have failed to perform the obligation hereunder, SG shall, on simple demand from NEG by written notice, promptly perform the obligations necessary to achieve performance of the obligations of the Affiliates hereunder.
Article 4. Deliveries
Article 5. Storage of the products
In case that SG and NEG separately make an agreement, NEG storages the Products sold by NEG to SG in [***] at NEG’s costs and expenses (including storage and handling cost) for up to [***] (hereinafter such storage Products is called “Safety Stock”). In such case, SG shall collect the Safety Stock [***].
Article 6. Change of ownership and risks of the products
Article 7. Prices
The prices of the Products to be delivered during the term of this Agreement shall be as described in the Appendix 1 of this Agreement. The prices of items which are not indicated in Appendix 1 shall be quoted and fixed by both parties.
Article 8. Payment conditions
SG shall make the payments for the Products shipped by NEG to SG hereunder by telegraphic transfer to a bank account designated by NEG by the following manner: [***]
Article 9. Guarantee
Article 10. Claims
Article 11. Confidentiality
During the term of this Agreement and thereafter, either party shall not disclose to any third parties, any confidential information or knowledge obtained from or made available by the other party in connection with the performance of or under this Agreement or the Individual Contract (hereinafter “Confidential Information”) and the existence and terms and conditions of this Agreement and the Individual Contract, however; Confidential Information shall not include information or knowledge which is (i) already in or enters into public domain at the time of disclosure under this Agreement or subsequent thereto without fault of the party receiving such information or knowledge (the “Receiving Party”), (ii) was in the Receiving Party’s possession lawfully at the time of disclosure by the party disclosing such information of knowledge or (iii) is disclosed to the Receiving Party by a third party having the legal right to disclose without any obligations of confidentiality.
In the event the Confidential Information is required to be disclosed by any laws, regulations or any other mandatory requirements in any jurisdiction, including any applicable rules and regulations of any national securities exchange, the Receiving Party shall provide the disclosing Party with prompt written notice of such requirements so that the disclosing Party may seek to obtain appropriate protective remedies against such disclosure.
Article 12. Term and Termination
This Agreement shall come into force and effect on [***] and be valid for [***] from such effective date. This Agreement shall be renewed if the both parties agree to the terms of the renewal of this Agreement (including the prices and quantities of the Products to be sold by NEG and purchased by SG) and the parties shall discuss and negotiate the terms of the renewal of this Agreement late in [***].
Article 13. Transfer of Agreement
Neither party shall assign, transfer or otherwise dispose of this Agreement or any of its rights, interest or obligations hereunder without the prior written consent of the other party.
Article 14. Force Majeure
Article 15. Hardship
If between the effective date of this Agreement and the date on which the performance of obligations of either party under this Agreement is to be made, there should be a material change in market condition or other circumstances, including, but not limited to soaring prices such as raw material costs and freight rates, or a substantial change in exchange rate, which would impose hardship on either party in performing its obligations under this Agreement, then the parties hereto shall, at the request of either party, discuss and review in good faith, the terms and conditions of this Agreement so that they may be revised to resolve and overcome such hardship for mutual benefit of the parties hereto and the maintenance of their good relationship.
Article 16. Default
Article 17. Governing law
This Agreement shall be governed by and construed and interpreted under the laws of Japan.
Article 18. Arbitration
Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre in accordance with the Commercial Arbitration Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Singapore. The Tribunal shall consist of three arbitrators, two of them shall be nominated by the respective parties. The language of the arbitration shall be English.
The award of the arbitration shall be final and binding upon the parties hereto.
Article 19. Changes in this Agreement and Invalid Clause
This Agreement can be modified only in writing by the persons authorized by the parties hereto. The nullity of one or more clauses of this Agreement does not influence the validity of this Agreement on the whole.
In witness whereof, the parties hereto have caused this Agreement to be executed by their respective duly authorized officers or representatives as of the day first above written.
Stevanato Group SPA Nippon Electric Glass Co., Ltd.
Title: Chief Executive Officer Title: Senior Vice President
Signature: Signature:
Mr. Franco Moro Mr. Akira Kishimoto
Price Table
Term |
Price Calculation Method |
Index Rate Reference Period |
[***] Review
The parties hereto shall agree on the price for each product to be the price according to the Price Calculation Method.
The parties hereto shall review [***] to ensure that the effect of the price increase/reduction is properly reflected.
If, as a result of the review, the effect of the price increase does not reflect the original intent of the parties hereto to enter into this Agreement, it shall be adjusted over the remaining term of this Agreement.
Freight Surcharge
[***]