Exhibit 10.41D

THE CIT GROUP/ BUSINESS CREDIT, INC.
300 South Grand Avenue, Third Floor
Los Angeles, California 90071

Dated as of
March 25, 2003

SIMULA, INC. AND SUBSIDIARIES
2700 North Central Avenue, Suite 1000
Phoenix, Arizona 85004

     Re: Amendment Number Nine to Financing Agreement

Ladies and Gentlemen:

Reference is made to the Financing Agreement between The CIT Group/Business
Credit, Inc. as lender thereunder (“CITBC”), and Simula, Inc. and its
subsidiaries, as borrowers thereunder (collectively, the “Companies”), dated as
of December 31, 1999, as the same may be amended from time to time (the
“Financing Agreement”). Initially capitalized terms used herein and not
otherwise defined herein shall have the meanings ascribed to such terms in the
Financing Agreement.

The Companies have requested, and CITBC has agreed, subject to the satisfaction
of each of the terms and conditions hereof, to modify and amend certain
provisions of the Financing Agreement.
Therefore, pursuant to mutual agreement, it is hereby agreed as follows:

I.   Amendment of Definitions. The definitions of “ASD Capital Expenditures” and
“ASD Capitalized Lease Obligations” are hereby deleted and replaced with the
following:       “ASD Capital Expenditures” means Capital Expenditures made by
the Companies in connection with the operation of Simula Automotive Safety
Devices, Inc. and/or Simula Automotive Safety Devices, Ltd.; provided, however,
that in calculating such amounts, the Companies shall be permitted to deduct
therefrom the net amount of tooling reimbursements and grants related to any
such Capital Expenditures and in each case either (i) received by a Company in
cash within thirty (30) days of the incurrence of such Capital Expenditures or
(ii) approved in writing by CITBC.       “ASD Capitalized Lease Obligations”
means capitalized lease obligations incurred by the Companies in connection with
the operation of Simula Automotive Safety Devices, Inc. and/or Simula Automotive
Safety Devices, Ltd.; provided, however, that in calculating such amounts, the
Companies shall be permitted to deduct therefrom the net amount of tooling
reimbursements and grants related to any such capitalized lease obligations and
in each case either (i) received by a Company in cash within thirty (30) days of
the incurrence of such capitalized lease obligations or (ii) approved in writing
by CITBC.   II.   Amendment to Subsection (b) of Section 7, Paragraph 11.
Subsection (b) of Section 7, Paragraph 11 is hereby deleted in its entirety and
replaced with the following:

 

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    “(b) make any ASD Capital Expenditure or enter into any ASD Capitalized
Lease Obligation, if the sum of (i) the aggregate amount of all ASD Capital
Expenditures (including the ASD Capital Expenditure in question) made by the
Companies and their Subsidiaries during such fiscal quarter period of the
Companies ending as of the dates set forth below, plus (ii) the aggregate amount
of all ASD Capitalized Lease Obligations (including the ASD Capitalized Lease
Obligation in question) made or required to be made by the Companies and their
Subsidiaries during such fiscal quarter period of the Companies ending as of the
dates set forth below, would exceed the amount set forth below opposite each
such date:       Fiscal Quarter ended 12/31/02 - $650,000
Fiscal Quarter ended 3/31/03 - $400,000
Fiscal Quarter ended 6/30/03 - $250,000
Fiscal Quarter ended 9/30/03 and thereafter - $200,000;”   III.   Consent to
Sales. The Companies have requested that CITBC consent to the Companies’
proposed sales of (i) that certain equipment described on Exhibit “A” attached
hereto, (ii) that certain real and personal property consisting of SEI’s former
office located at 537 Sweeten Creek Industrial Park, Asheville, North Carolina,
and (iii) that certain real estate located at 10008 South 50th Place, Phoenix,
Arizona (collectively, the “Sales”). CITBC has agreed to consent to the Sales as
currently contemplated by the Companies and as set forth in drafts of the
purchase and sale documents submitted to CITBC to date. Except as expressly
provided herein, the foregoing consent shall not constitute (a) a modification
or alteration of the terms, conditions or covenants of the Financing Agreement
or any document entered into in connection therewith, or (b) a waiver, release
or limitation upon the exercise by CITBC of any of its rights, legal or
equitable, hereunder or under the Financing Agreement or any Loan Document.
Except as set forth above, CITBC reserves any and all rights and remedies which
it has had, has or may have under the Financing Agreement and each Loan
Document.   IV.   Confirmation of Guaranty. The Companies, as Guarantors, hereby
confirm that the Guaranty, dated December 30, 1999, executed by the Guarantors
in favor of CITBC guarantying the repayment of the Obligations remains in full
force and effect notwithstanding this Amendment and the waiver contained herein.
  V.   General Terms.

  1.   To the extent any of the terms and provision of the Financing Agreement
and/or the Loan Documents conflict or are inconsistent with the terms hereof,
the terms of this Amendment shall govern.     2.   The effectiveness of the
waiver, modification, and consent set forth in this Amendment is expressly
conditioned upon:

a)  receipt by CITBC of an executed counterpart of this Amendment executed by
the Companies;   b)  receipt by CITBC of an amendment fee of $10,000;   c) 
receipt by CITBC of the execution drafts of the purchase and sale documents for
each sale prior to the consummation of a Sale;   d)  receipt by CITBC of fully
executed copies of the purchase and sale documents for each Sale;   e)  100% of
the net cash proceeds of each Sale shall be paid to CITBC for application
against the outstanding Revolving Loans;   f)  receipt by CITBC of payment in
full of all costs, fees and expenses of CITBC incurred in connection with this
Amendment; and   g)  the receipt by CITBC of evidence satisfactory to CITBC, in
its sole discretion, that Allied Capital Corporation (i) has consented to the
waiver, modification and consent set forth herein, as prescribed by the terms of
the Intercreditor Agreement, on terms satisfactory to CITBC, in its sole
discretion, and (ii) has amended the Allied Loan Documents and consented to the
Sales on terms consistent with those set forth herein (the “Allied Amendment”).

  3.   This Amendment may be executed in two (2) or more counterparts, each of
which shall constitute an

 

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      original but all of which when taken together shall constitute but one
(1) agreement, and shall become effective when copies hereof which, when taken
together, bear the original signatures of each of the parties hereto are
delivered to CITBC.

VI.   Consent Under Intercreditor Agreement. CITBC hereby consents to the
execution and delivery of the Allied Amendment by and between Allied and the
Companies, to the extent such consent is required pursuant to the terms of the
Intercreditor Agreement.       Except as set forth herein no other amendment,
waiver, consent or change in the terms or provisions of the Financing Agreement
or any other Loan Document is intended or implied. By execution hereof, the
Companies represent and warrant to CITBC that, except as disclosed to CITBC, no
material adverse change has occurred in the financial condition, business,
prospects, profits, operations or assets of the Companies.       If the
foregoing is in accordance with your understanding, please so indicate by
signing and returning the enclosed copy of this Amendment.

        Very truly yours,
        THE CIT GROUP/BUSINESS CREDIT, INC.
        By:  /s/ James Karnowski
   

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        Title:  Vice President

 

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        AGREED AND ACCEPTED BY:             SIMULA, INC.,     An Arizona
corporation             By:  /s/ John A. Jenson      

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            Title:  CFO             SAI CAPITAL CORP.,     An Arizona
corporation             By:  /s/ Mari Valenzuela      

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            Title:  Secretary             AI CAPITAL CORP.,     An Arizona
corporation             By:  /s/ Mari Valenzuela      

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            Title:  Secretary             SIMULA TRANSPORTATION EQUIPMENT
CORPORATION,     An Arizona corporation             By:  /s/ Mari Valenzuela    
 

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            Title:  Secretary             INTERNATIONAL CENTER FOR     SAFETY
EDUCATION, INC.,     An Arizona corporation             By:  /s/ Mari Valenzuela
     

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            Title:  Secretary             SIMULA AUTOMOTIVE SAFETY     DEVICES,
INC.,     An Arizona corporation             By:  /s/ Mari Valenzuela      

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            Title:  Secretary             SIMULA COMPOSITES CORPORATION,     a
Delaware corporation             By:  /s/ Mari Valenzuela      

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            Title:  Secretary    

 

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        SIMULA POLYMER SYSTEMS, INC.,     an Arizona corporation             By:
/s/ Mari Valenzuela      

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            Title:  Secretary             SIMULA AEROSPACE & DEFENSE GROUP,
INC.,     an Arizona corporation, f/k/a Simula Safety Systems, INC.            
By:  /s/ Mari Valenzuela      

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            Title:  Assistant Secretary             SIMULA TECHNOLOGIES, INC    
an Arizona corporation             By:  /s/ Mari Valenzuela      

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            Title:  Secretary             SIMULA AUTOMOTIVE SAFETY     DEVICES,
LIMITED,     a United Kingdom limited company             By:  /s/ Mari
Valenzuela      

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    Title:  Secretary             CCEC CAPITAL CORP.,     an Arizona corporation
            By:  /s/ Mari Valenzuela      

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            Title:  Secretary