" Item 1.01 Entry into a Material Definitive Agreement.
On May 2, 2011, JBI, Inc. (“ JBI ” or the “ Company ”) and Smurfit-Stone Container Corporation (“ Smurfit-Stone ”) entered into a Referral Agreement (the ‘ Agreement ”). Pursuant to the Agreement, Smurfit- Stone shall refer to JBI selected clients (“ Smurfit-Stone Clients ”) that may be producing significant amounts of plastic feedstock to assess the potential use of the plastic feedstock in JBI’s Plastic2Oil™ process. Upon each introduction of a Smurfit-Stone Client to JBI, JBI shall asses, in its commercially reasonable discretion, whether such Smurfit-Stone Client generates a sufficient amount of plastic feedstock to ensure that at least one JBI Plastic2Oil™ processor operating at such Smurfit-Stone Client’s facility will be able to operate at a minimum capacity of (10 metric tons/day)..."
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