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NAEDA legal counsel, Lance Formwalt and Dave Shay, have been in contact with Manitou legal counsel to discuss the terms of the new Manitou dealer agreement, security agreement and form of personal guarantee. These discussions have concluded and we are pleased to inform you that Manitou has agreed to make some changes to these agreements. On balance, we believe that the revised terms of the dealer agreement and security agreement reflect fair and reasonable terms based on our review of other dealer agreements and the forms of dealer agreement under which Manitou, Gehl and Mustang dealers are currently operating. In addition, we want to complement Manitou for being willing to listen to, and in many cases address, our concerns throughout this process. In our opinion, this process represents a win-win for our members and Manitou – Manitou will be able to move toward a uniform dealer agreement for all of its brands and both Manitou and the dealers will be able to receive the benefit of a dealer agreement that reflects commercially reasonable terms when taken in the context of the industry as a whole. NAEDA looks forward to continuing an open and productive dialogue with Manitou about industry issues in the future.
It is rare to have an opportunity to reshape an organization - especially, one that has more than 100 years of service to its members. Change is hard. It is controversial, politically sensitive and challenging, while status quo is comfortable and uncomplicated. However, change can also be invigorating, motivating and rewarding. It can offer a once-in-a-lifetime opportunity to assume a leadership role in positioning an organization for continued success - strengthening its foundation, refocusing its priorities, enhancing its value proposition and enabling its volunteer and staff leaders to focus on the goals and objectives of the organization.
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