Z41/MV1/1/2

Copy share agreement.

5 Feb 1930

From: 1930 To: 1930

Parties (i) Marston Valley Brick Company Limited, Lidlington, Bedfordshire (the Company) (ii) Charles Brannan, 9 & 10 King Street, Cheapside, London. Supplemental to the Principal Agreement [as above]. (ii) and his permitted nominees and assigns shall be the registered holder of not less than 7500 shares., the Company shall supply to him or his distributing agents best pressed bricks of first class quality, similar to 'Flettons' at monthly quantities not exceeding 10% of the Company's monthly output, calculated after the Company has taken bricks necessary for use in its own works. Whenever the Company's output over 12 successive months shall exceed 60 million bricks then (ii) shall be supplied with additional quantity of bricks up to 15% of the monthly total. 10% or 15% shall drop by one tenth for every 1000 shares less then 7500 held. The Company shall supply Mr Brannan or his distributing agents with bricks at the scheduled price at destination stations charged by the London Brick Company & Forders Ltd or its successors to its merchants or other customers (whichever is the lower). The Company shall invoice the bricks' carriage forward and deduct scheduled rail rates from the scheduled price and Mr Brannan or his agents shall pay the rail charges. The Company shall allow Mr Brannan discounts at the same rate as the LB Co. & Forders Ltd or other customers (whichever is higher). In addition: - When the price to be paid should be 32 shillings or upward per 1000 bricks Mr Brannan shall be entitled to a further discount of 2s per 1000. - If the price paid is less than 32s but more than 29s Mr Brannan will be entitled to a discount of 1s 6d per 1000 bricks. - If the price paid is less than 29s per 1000 bricks but more than 26s Mr Brannan shall be entitled to a discount of 1s per 1000 bricks. - Between 25s and 26s Mr Brannan shall be entitled to a discount equivalent to the amount below 26s or above 25s per 1000 bricks. - If the price falls below 25s per 1000 bricks the above discounts will not be allowed. Mr Brannan or his agents to pay in cash to the Company on the tenth of each month following delivery. In the case of default of payment the Company may withhold deliveries. Mr Brannan hereby guarantees the payment to the Company for all bricks delivered on the orders of his distributing agents. Mr Brannan or his agents will notify the company on the first day of the calendar month of the probable quantity of bricks required during that month. If he or his agents do not take delivery of the bricks during that month then they must pay for the costs of stacking. The Company shall notify Mr Brannan in writing before the 7th day of each calendar month the total of the previous months output of bricks. In the event of Mr Brannan or his agents not having received delivery of their proper quota of the output or quantity ordered the company must reserve sufficient of the output to make up the deficiency within 28 days. Mr Brannan undertakes that: - not less than 45% of the bricks purchased from the Company - shall be used in areas where the present railway rate at Lidlington does not exceed 5 shillings 6d per ton. - not more than 20% in areas where the present railway rate exceeds 5s6d but not 6s6d per ton. - not more than 15% where the railway rate exceeds 6s6d per ton but not more than 7s6d. - not more than 10% where the present railway rate exceeds 7s6d but is less than 8s6d per ton. - Not more than 10% where the rate exceeds 8s6d per ton but not more than 10s6d. Mr Brannan shall in conjunction with the Company draw up a schedule of net prices to be paid to the Company for delivery of bricks to each station. In the event of the company selling its undertaking or brick works as a going concern the Company agrees that the sale shall be made expressly subject to this agreement and in the Contract for sale the Company shall bind the purchaser to enter into a fresh agreement on similar terms. The Company has the right to demand to know from Mr Brannan or his assigns the number of shares held by him and his nominees. Agreement shall remain conditional until Mr Brannan has paid the Company at par for 7500 ordinary 1 shares and 125 1 founders shares in accordance with the above agreement [Z 41/MV 1/1/1]. Signed and sealed.

No. of pieces: 1

item

Brannan, Charles,
Marston Valley Brick Company Limited

City of London Cheapside, LIDLINGTON, shares