SCOTTS LIQUID GOLD INC
EX-10.6
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<P ALIGN="RIGHT"><FONT SIZE=2><B>EXHIBIT 10.6  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ls1365_second_amendment_to_the_scott___sec03089"> </A>
<A NAME="toc_ls1365_1"> </A>
<BR></FONT><FONT SIZE=2><B>SECOND AMENDMENT TO THE<BR>  SCOTT'S LIQUID GOLD-INC.<BR>  EMPLOYEE STOCK OWNERSHIP PLAN    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Recitals</I></B></FONT><FONT SIZE=2>. Pursuant to corporate resolution, Scott's Liquid Gold-Inc. wishes to revise the distribution
provisions of the Scott's Liquid Gold-Inc. Employee Stock Ownership Plan and Trust Agreement (the "Plan"). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Amendment of Plan</I></B></FONT><FONT SIZE=2>. The following amendments to the Plan are adopted, effective as provided in Paragraph&nbsp;3 below: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Section&nbsp;6.6(c) of the Plan is deleted and replaced in its entirety with the following</B></FONT><FONT SIZE=2>: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Calculation of Distribution. </I></B></FONT><FONT SIZE=2>Effective January&nbsp;1, 2003, for purposes of determining required minimum distributions
for calendar years beginning with the 2003 calendar year, all distributions required under this article will be determined and made in accordance with the final and temporary Treasury regulations
under Code Section&nbsp;401(a)(9), including the minimum incidental death benefit requirement of Code Section&nbsp;401(a)(9)(G) and the related regulations. (Treasury Regulation
Section&nbsp;1.401(a)(9)-2.) Notwithstanding the other provisions of this article, distributions may be made under a designation made before January&nbsp;1, 1984, in accordance with
section&nbsp;242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to TEFRA Section&nbsp;242(b)(2). The requirements of this section shall
take precedence over any provisions of the Plan inconsistent with Code Section&nbsp;401(a)(9). </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Amount of Distributions During Participant's Lifetime. </I></FONT><FONT SIZE=2>During the Participant's lifetime, the minimum amount that will be
distributed for each Distribution Calendar Year is the lesser of: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;the
quotient obtained by dividing the Participant's Account Balance by the distribution period in the Uniform Lifetime Table set forth in Treasury Regulations
Section&nbsp;1.401(a)(9)-9, using the Participant's age as of the Participant's birthday in the Distribution Calendar Year; or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;if
the Participant's sole Beneficiary for the Distribution Calendar Year is the Participant's Spouse, the quotient obtained by dividing the Participant's Account Balance
by the number in the Joint and Last Survivor Table set forth in Treasury Regulations Section&nbsp;1.401(a)(9)-9, using the Participant's and Spouse's attained ages as of the
Participant's and Spouse's birthdays in the Distribution Calendar Year. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Amount of Distributions After Participant's Death. </I></FONT><FONT SIZE=2>Required minimum distributions will be determined under subsection
(c)(2) beginning with the first Distribution Calendar Year and up to and including the Distribution Calendar Year that includes the Participant's date of death. Subsequent distributions shall be
determined under Section&nbsp;6.7. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Definitions. </I></B></FONT><FONT SIZE=2>For purposes of this section and Section&nbsp;6.7, the following capitalized terms shall have the
specified meanings: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Designated Beneficiary: </I></FONT><FONT SIZE=2>the individual who is designated as the Beneficiary under Section&nbsp;6.7(a) and is the
designated beneficiary under Code Section&nbsp;401(a)(9) and Treasury Regulations Section&nbsp;1.401(a)(9)-1, Q&amp;A-4. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Distribution Calendar Year: </I></FONT><FONT SIZE=2>a calendar year for which a minimum distribution is required. For distributions beginning
before the Participant's death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year that contains </FONT></P>

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<P><FONT SIZE=2>the
Participant's Required Beginning Date. For distributions beginning after the Participant's death, the first Distribution Calendar Year is the calendar year in which distributions are required to
begin under subsection (b). The required minimum distribution for the Participant's first Distribution Calendar Year will be made on or before the Participant's Required Beginning Date. The required
minimum distribution for other Distribution Calendar Years, including the required minimum distribution for the Distribution Calendar Year in which the Participant's Required Beginning Date occurs,
will be made on or before December&nbsp;31 of that Distribution Calendar Year. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Life Expectancy: </I></FONT><FONT SIZE=2>life expectancy as computed by use of the Single Life Table in Treasury Regulations
Section&nbsp;1.401(a)(9)-9. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Participant's Account Balance: </I></FONT><FONT SIZE=2>the account balance as of the last valuation date in the calendar year immediately
preceding the Distribution Calendar Year (valuation calendar year), increased by the amount of any contributions made and allocated or forfeitures allocated to the account balance as of dates in the
valuation calendar year after the valuation date and decreased by distributions made in the valuation calendar year after the valuation date. The Account Balance for the valuation calendar year
includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the Distribution Calendar Year if distributed or transferred in the valuation calendar year. </FONT></P>

</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Section&nbsp;6.7(b), (c)&nbsp;and (d)&nbsp;of the Plan are deleted and replaced in their entirety with the
following</B></FONT><FONT SIZE=2>: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Distributions Beginning Before Death.</I></B></FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Participant Survived by Beneficiary. </I></FONT><FONT SIZE=2>If the Participant dies on or after the date distributions begin, the remaining
Account Balance shall be distributed at least as rapidly as under the method in use on the date of the Participant's death. If the Participant dies on or after the date distributions begin and there
is a Beneficiary designated, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant's death is the quotient obtained by dividing the
Participant's Account Balance by the longer of the remaining Life Expectancy of the Participant or the remaining Life Expectancy of the Participant's Beneficiary, determined as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The
Participant's remaining Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;If
the Participant's Spouse is the Participant's sole Beneficiary, the remaining Life Expectancy of the Spouse is calculated for each Distribution Calendar Year after
the year of the Participant's death using the Spouse's age as of the Spouse's birthday in that year. For Distribution Calendar Years after the year of the Spouse's death, the remaining Life Expectancy
of the Spouse is calculated using the age of the Spouse as of the Spouse's birthday in the calendar year of the Spouse's death, reduced by one for each subsequent calendar year. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;If
the Participant's Spouse is not the Participant's sole Beneficiary, the Beneficiary's remaining Life Expectancy is calculated using the age of the Beneficiary in
the year following the year of the Participant's death, reduced by one for each subsequent year. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>No Designated Beneficiary. </I></FONT><FONT SIZE=2>If the Participant dies on or after the date distributions begin and there is no Beneficiary
designated as of September&nbsp;30 of the year after the year of the Participant's death, the minimum amount that will be distributed for </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2>each
Distribution Calendar Year after the year of the Participant's death is the quotient obtained by dividing the Participant's Account Balance by the Participant's remaining Life Expectancy
calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Distributions Beginning After Participant's Death. </I></B></FONT><FONT SIZE=2>If the Participant dies before distributions begin, the Participant's
entire interest will be distributed, regardless of whom is the Beneficiary designated or whether there is a Beneficiary designated by December&nbsp;31 of the calendar year containing the fifth
anniversary of the Participant's death. For purposes of this subsection, distributions are considered to begin on the Participant's Required Beginning Date. If the Participant's Spouse is the
Participant's sole Beneficiary, and the Spouse dies before distributions are required to begin to the Spouse, this subsection will apply as if the Spouse were the Participant. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Effective Date. </I></B></FONT><FONT SIZE=2>The Effective Date of this Second Amendment shall be January&nbsp;1, 2003, unless otherwise specified
above. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Terms and Conditions of Plan. </I></B></FONT><FONT SIZE=2>Except for the amendment(s) in paragraph&nbsp;2, all terms and conditions of the Plan are
unamended and shall remain in full force and effect. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Execution. </I></B></FONT><FONT SIZE=2>Scott's Liquid Gold-Inc. has executed this Second Amendment as of this 22 day of December, 2003. </FONT></P>

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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>SCOTT'S LIQUID GOLD-INC.<BR>
Company</B></FONT></TD>
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<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>Participating Employers</B></FONT></TD>
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<TR VALIGN="TOP">
<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>SLG CHEMICALS,&nbsp;INC.</B></FONT></TD>
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<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
</TR>
<TR VALIGN="TOP">
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>SLG PLASTICS,&nbsp;INC.</B></FONT></TD>
</TR>
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<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>SLG TOUCH-A-LITE,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
</TR>
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&nbsp;</FONT></TD>
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<TD COLSPAN=3><BR><FONT SIZE=2><B>ADVERTISING PROMOTIONS INCORPORATED</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
</TR>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>NEOTERIC COSMETICS,&nbsp;INC.</B></FONT></TD>
</TR>
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<TD WIDTH="47%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JEFFRY B. JOHNSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Jeffry B. Johnson, C.F.O.&nbsp;&amp; Treasurer</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<FONT SIZE=2><A HREF="#toc_ls1365_1">SECOND AMENDMENT TO THE SCOTT'S LIQUID GOLD-INC. EMPLOYEE STOCK OWNERSHIP PLAN</A></FONT><BR>
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