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                                                                    Exhibit 10.3


                    AMENDMENT TO CHANGE IN CONTROL AGREEMENT


         THIS AMENDMENT is made effective as of the 24 day of September, 1999,
by and between BALDWIN PIANO & ORGAN COMPANY, a Delaware corporation (the
"Company") and DUANE D. KIMBLE (the "Executive").

         WHEREAS, the parties entered into a Change of Control Agreement, dated
July 5, 1998 (the "Change of Control Agreement"), and desire to amend the Change
of Control Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the premises and the mutual
promises and covenants contained herein, the parties agree as follows:

         1.       Amendments to SECTION IV. BENEFITS UPON TERMINATION FOLLOWING
                  A CHANGE IN CONTROL.

                  (a)      Subsection 1. Termination. THE FIRST SENTENCE SHALL
                           BE DELETED IN ITS entirety and replaced with the
                           following:

                           1. TERMINATION - The Executive shall be entitled to,
                  and the Company shall pay or provide to the Executive, the
                  benefits described in Section 2 below if (a) a Change in
                  Control occurs during the term of this Agreement, and (b) the
                  Company terminates the Executive's employment, either by
                  actual termination or by constructive termination, within two
                  (2) years following the Change in Control or the Company
                  terminates the Executive within forty-five (45) days prior to
                  a Change in Control, other than termination for Cause.

                  (b)      SUBSECTION 2(a). COMPENSATION. Subsection 2(a) shall
                           be deleted in its entirety and replaced with the
                           following:

                           2(a) COMPENSATION - The Executive will receive an
                  amount equal to two times the Executive's Average Annual
                  Compensation in twenty-four (24) equal monthly installments,
                  beginning with the first month following the Executive's date
                  of termination, in the same manner as the Executive's salary
                  was being paid as of the date of termination, subject to
                  withholding of all applicable taxes and any amounts referred
                  to in Section 2(b) below; provided, however, that, at the
                  option of the Executive, the payments provided for hereunder
                  shall be paid in a single lump sum payment, to be paid not
                  later than thirty (30) days after the Executive's termination
                  of employment, provided further, that the amount of such lump
                  sum payment shall be determined by taking the compensation
                  payments to be made and discounting them to their Present
                  Value.


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                           2(b) HEALTH AND LIFE INSURANCE COVERAGE - The health
                  and life insurance benefits coverage provided to the Executive
                  at the Executive's date of termination shall be continued at
                  the same level and in the same manner as if the Executive's
                  employment had not terminated (subject to the customary
                  changes in such coverages if the Executive retires, reaches
                  age 65 or similar events), beginning on the date of such
                  termination and ending on the earlier of (i) the date
                  twenty-four (24) months from the date of such termination and
                  (ii) the date that the Executive becomes eligible for health
                  insurance benefits offered by any subsequent employer, taking
                  into account any exclusion or waiting period in such
                  subsequent employer's health benefit plan. Any additional
                  coverages the Executive had at termination, including
                  dependent coverage, will also be continued for such period at
                  the same level and on the same terms as provided to the
                  Executive immediately prior to the Executive's termination, to
                  the extent permitted by the applicable policies or contracts.
                  Any costs Executive was paying for such coverages at the time
                  of termination shall be paid by the Executive by separate
                  check payable to the Company each month in advance. If the
                  terms of any benefit plan referred to in this Section do not
                  permit continued participation by the Executive, then the
                  Company will arrange for other coverage at its expense
                  providing substantially similar benefits as it can find for
                  other officers in similar positions.

                           2(c) EMPLOYEE RETIREMENT PLANS - To the extent
                  permitted by the applicable plan, the Executive will be fully
                  vested in and will be entitled to continue to participate,
                  consistent with past practices, in all employee retirement
                  plans maintained by the Company in effect as of the
                  Executive's date of termination. The Executive's participation
                  in such retirement plans shall continue for a period beginning
                  on the date of the Executive's termination and ending on the
                  earlier of (i) the date twenty-four (24) months from the date
                  of such termination and (ii) the date that the Executive
                  becomes employed by any other employer (at which point the
                  Executive will be considered to have terminated employment
                  within the meaning of the plans) and the compensation payable
                  to the Executive under paragraph (a) above shall be treated
                  (unless otherwise excluded) as compensation under the plan. If
                  full vesting and continued participation in any plan is not
                  permitted, the Company shall pay to the Executive and, if
                  applicable, the Executive's beneficiary, a supplemental
                  benefit equal to the Present Value on the date of termination
                  of employment of the excess (i) the benefit the Executive
                  would have been paid under such plan if the Executive had been
                  fully vested and had continued to be covered for the 24-month
                  period as if the Executive had earned compensation described
                  under paragraph (a) above and had made contributions
                  sufficient to earn the maximum matching contribution, if any,
                  under such plan (less any amounts the Executive would have
                  been required to contribute), over (ii) the benefit actually
                  payable to or on behalf of the Executive under such plan. For
                  purposes of determining the benefit under (i) in the preceding
                  sentence, contributions deemed to be made under a defined
                  contribution plan will be deemed to be invested in the same
                  manner as the Executive's account under such plan at the time
                  of termination of employment. The Company shall pay such
                  supplemental benefits (if any) in a lump sum.


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                           2(d) ACCELERATED VESTING SCHEDULES - All stock
                  options and the unvested portion of all grants of restricted
                  stock granted to the Executive shall immediately vest in full.
                  Moreover, the Executive shall be entitled to receive
                  immediately upon such termination the cash value of any long
                  term incentives payable to the Executive under any long term
                  incentive compensation plans, including but not limited, to
                  the Company's 1994 Long Term Incentive Plan, in which the
                  Employee is then participating calculated as of the date of
                  the Executive's termination regardless of any provisions in
                  such plans requiring continued employment with the Company.
                  If, within thirty (30) days of Executive's Termination of
                  Employment, the Executive informs the Company that the
                  Executive desires to exercise any or all of the stock options
                  granted which have vested (including such options which have
                  vested pursuant to this paragraph (d)) immediately prior to
                  the Executive's termination of employment, then the Company in
                  its sole discretion shall either (a) register the underlying
                  shares of the Company's common stock for sale to the public
                  pursuant to a registration statement filed by the Company with
                  the Securities and Exchange Commission within 180 days of the
                  termination of the Executive's employment, or (b) purchase
                  from the Executive the stock options which the Executive
                  desires to exercise. If the Company elects to purchase the
                  stock options, the purchase price to be paid by the Company
                  for each such option being purchased shall be the difference
                  between the last sale price of the Company's common stock on
                  the Nasdaq National Market on the day prior to the date of
                  termination and the exercise price of the option.

         2.       NOTICES. The notice address for the Company shall be changed
                  to:

                  To the Company:  Baldwin Piano & Organ Company
                                   4680 Parkway Drive
                                   Mason, Ohio 45040-7198

         3.       REAFFIRMATION - Except as expressly modified in this
                  Amendment, the Company and the Executive hereby ratify and
                  confirm each and every provision of the Change of Control
                  Agreement.

         4.       SEVERABILITY - If any provision of the Change of Control
                  Agreement, as amended by this Amendment, is held to be
                  unenforceable for any reason, the remainder of this Agreement
                  shall, nevertheless, remain in full force and effect.

         5.       ENTIRE AGREEMENT - The terms and provision of the Change of
                  Control Agreement and this Amendment constitute the entire
                  agreement between the Company and the Executive with respect
                  to the subject matter hereof. This Amendment may be amended or
                  modified only by a written instrument executed by the Company
                  and the Executive.

         6.       GOVERNING LAW - This Amendment shall be governed in all
                  respects by the law of the State of Ohio.


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         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                        BALDWIN PIANO & ORGAN COMPANY


                                        By: /s/ Karen L. Hendricks
                                           -------------------------------

                                        Printed Name: Karen L. Hendricks
                                                     ---------------------

                                        Title: Chief Executive Officer
                                              ----------------------------


                                        EXECUTIVE

                                            /s/ Duane D. Kimble
                                           -------------------------------
                                                DUANE D. KIMBLE