<PAGE>   1

                                                                   EXHIBIT 10.02

                                    AGREEMENT






THIS AGREEMENT, dated as of June 14, 2001 by and between General Motors
Corporation ("GM") and American Axle & Manufacturing, Inc. ("AAM").

Without creating any precedents or waiving any rights under any other agreements
except as expressly provided herein, the parties hereto agree as follows:

1.   GM designates AAM as the * * * Tier I supplier for all of GM's requirements
     for driveline components for the * * * series program, including all
     derivatives thereof based upon the * * * platform, which replace * * *
     series program components, subject to the following:

          a.   The price of * * * series program components set forth in Exhibit
               1 shall be the price as of the date of this agreement of the
               * * * series program component being replaced, giving effect to
               the price reductions set forth in Section 3 below. Such prices
               shall be increased or decreased by the cost of the engineering
               changes ordered by GM in the specifications for such products
               (* * * & * * *) plus a proportional change in profit to AAM. AAM
               and GM agree to pursue jointly achieved cost savings efforts as
               provided in Section 2 below with respect to * * * axles.

          b.   With respect to * * * series program driveline components not
               listed in Exhibit I, including without limitation, modules,
               whether steerable or otherwise, except for steerable beam axles,
               GM shall provide AAM with a right of last refusal with respect to
               such products in accordance with the AAM/GM 30-Day Letter
               Procedure, dated as of July 28, 2000, between GM and AAM.

<PAGE>   2

          c.   All * * * series program products sourced to AAM by GM shall be
               for the life of the program and shall be included in Lifetime
               Program Contracts as set forth in Paragraph 1 of the MOU.

2.   GM hereby designates AAM as the advanced engineering/cooperative source and
     Tier I supplier- systems integrator for the * * * series program including
     all derivatives thereof based upon the * * * platform. Except with respect
     to brakes, AAM shall be design responsible. With respect to potential
     module steering cross member and suspension suppliers, AAM and GM
     engineering shall jointly review and approve their technical capability
     based on key product characteristics. AAM shall be solely responsible for
     the final selection of all suppliers and the terms and conditions of supply
     contracts. AAM and GM each recommit to continue support of the AAM/GM cost
     reduction program as set forth in the MOU and Lifetime Program contracts
     and to work together cooperatively and expeditiously with all appropriate
     resources and to make all decisions timely on joint cost savings ideas, the
     benefits of which shall be shared equally (50/50%) by AAM and GM.

3.   Upon sourcing of the * * * series program to AAM, including all components
     referred to above in Paragraph 1, the following agreements, as set forth in
     (a), (b) and (c) below, will become effective:

          a.   AAM and GM agree to four * * *% reductions on * * * component
               prices commencing January 1, 2002 and each January 1 thereafter
               through January 1, 2005 based on the following: These reductions
               will consist of * * *% annual price reductions on AAM's * * *
               controllable sales (excluding directed buy sales) with the
               balance coming from directed buy suppliers. AAM and GM shall
               jointly seek such price reductions from direct buy suppliers with
               the intention of achieving them by August 1, 2001. All such price
               reductions from directed buy suppliers shall be for the benefit
               of GM. To the extent that such price reductions shall not be
               obtained from directed buy suppliers, AAM shall be under no
               obligation to reduce prices beyond * * *% as set forth


                                                                               2

<PAGE>   3


               above. In addition, AAM will make a payment of $* * * million to
               GM on or before December 31, 2001. This payment will include GM's
               50% share of the next $* * * million of jointly-achieved savings
               implemented after the date of this agreement. These actions shall
               be in lieu of any other price reduction-related payments by AAM
               to GM and shall be in lieu of any other * * * price reductions.

          b.   In the event that AAM is not receiving annual revenue from the
               substitute business referenced in Section 2.K. of the Settlement
               Agreement dated as of July 28, 2000 between AAM and GM in an
               amount of at least $* * * million by December 1, 2002, then GM
               shall pay to AAM an amount based upon a total annual amount of
               $* * * million in proportion to the launch curve for the * * *
               products on or before December 31, 2002 and 2003 and $* * *
               million on or before December 31 of each year thereafter until
               such time as AAM is receiving at least $* * * million annual
               revenue from such substitute business. The amount of incremental
               revenue received by AAM from new AAM content from the module
               assemblies referenced in Section 1.b. above, excluding the amount
               for brakes referenced in Section 2. above, in excess of the
               revenue that would have been received by AAM for the axles such
               modules replace shall be counted against GM's obligation to
               source $* * * million of substitute business to AAM as set forth
               in Section 2.K. of the Settlement Agreement dated as of July 28,
               2000 between AAM and GM. AAM shall be entitled to quote on all
               driveline components of GM and GM alliance partners such as Fiat,
               Isuzu, Subaru, Saab and Suzuki, etc. relating to passenger car,
               truck and crossover vehicles and programs.


                                                                               3

<PAGE>   4


          c.   AAM and GM acknowledge that GM has received the benefit of $84
               million savings, using model year 1996 as the base through model
               year 2000, as the result of AAM's and GM's warranty performance.
               AAM and GM commit to work cooperatively together to continually
               improve GM's warranty performance on AAM products to meet and
               exceed currently projected cumulative increment warranty savings
               of $* * * million in 2001, $* * * million in 2002, $* * * million
               in 2003, $* * * million in 2004 and $* * * million in 2005 based
               on 1996 warranty performance and current assumptions.





GENERAL MOTORS CORPORATION                  AMERICAN AXLE &
                                            MANUFACTURING, INC.

By: /s/ Randall Pappal                      By: /s/ Patrick S. Lancaster
    ------------------------------------        -------------------------------
Title: Director Purchasing                  Title: GVP
       ---------------------------------           ----------------------------
          /s/ Bo Andersson
          EXECUTIVE IN CHARGE



                                                                               4
<PAGE>   5

<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                       <C>                                                        <C>
                                  * * *-AUXILIARY PROPSHAFTS

   * * *                  * * * Front Auxiliary Propshaft                                * * *
   * * *                  * * * Front Auxiliary Propshaft                                * * *
   * * *                  * * * Front Auxiliary Propshaft                                * * *
   * * *                  * * * Front Auxiliary Propshaft                                * * *
   * * *                  * * * Front Auxiliary Propshaft                                * * *
----------------------------------------------------------------------------------------------------

                                       * * * PROPSHAFTS

   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
----------------------------------------------------------------------------------------------------

                                       * * * PROPSHAFTS

   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
   * * *                  * * * 2 Piece Propshafts                                       * * *
----------------------------------------------------------------------------------------------------

                                       * * * PROPSHAFTS

   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
----------------------------------------------------------------------------------------------------

                                       * * * PROPSHAFTS

   * * *                  * * * 1 Piece Propshaft                                        * * *
   * * *                  * * * 1 Piece Propshaft                                        * * *
----------------------------------------------------------------------------------------------------

                                             * * *

   * * *                  * * * 2 Piece Propshaft                                        * * *
====================================================================================================
</TABLE>







                                     1 of 6
<PAGE>   6


<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                       <C>                                                        <C>
                                         * * * 8.6" REAR AXLE

       * * *                  8.6" Rear Axle - 3.08 Std.                                     * * *
       * * *                  8.6" Rear Axle - 3.42 Std.                                     * * *
       * * *                  8.6" Rear Axle - 3.42 L/D                                      * * *
       * * *                  8.6" Rear Axle - 3.73 Std.                                     * * *
       * * *                  8.6" Rear Axle - 3.73 L/D                                      * * *
       * * *                  8.6" Rear Axle - 4.10 Std.                                     * * *
       * * *                  8.6" Rear Axle - 4.10 L/D                                      * * *
       * * *                  8.6" Rear Axle - 3.73 L/D                                      * * *
----------------------------------------------------------------------------------------------------

                                         * * * 8.6" REAR AXLE

       * * *                  8.6" Rear Axle - 3.42 Std.                                     * * *
       * * *                  8.6" Rear Axle - 3.42 L/D                                      * * *
       * * *                  8.6" Rear Axle - 3.73 Std.                                     * * *
       * * *                  8.6" Rear Axle - 3.73 L/D                                      * * *
       * * *                  8.6" Rear Axle - 4.10 Std.                                     * * *
       * * *                  8.6" Rear Axle - 4.10 L/D                                      * * *
----------------------------------------------------------------------------------------------------

                                         * * * 9.5" REAR AXLE

       * * *                  9.5" Rear Axle - 3.42 Std.                                     * * *
       * * *                  9.5" Rear Axle - 3.73 Std.                                     * * *
       * * *                  9.5" Rear Axle - 3.73 L/D                                      * * *
       * * *                  9.5" Rear Axle - 4.10 Std.                                     * * *
       * * *                  9.5" Rear Axle - 4.10 L/D                                      * * *
----------------------------------------------------------------------------------------------------

                                         * * * 9.5" REAR AXLE

       * * *                  9.5" Rear Axle - 3.73 Std.                                     * * *
       * * *                  9.5" Rear Axle - 3.75 L/D                                      * * *
       * * *                  9.5" Rear Axle - 4.10 Std.                                     * * *
       * * *                  9.5" Rear Axle - 4.10 L/C                                      * * *

----------------------------------------------------------------------------------------------------

                                         * * * 10.5" REAR AXLE

       * * *                  10.5" Rear Axle - 3.73 Std.                                    * * *
       * * *                  10.5" Rear Axle - 3.73 L/D                                     * * *
       * * *                  10.5" Rear Axle - 4.10 Std.                                    * * *
       * * *                  10.5" Rear Axle - 4.10 L/D                                     * * *

----------------------------------------------------------------------------------------------------

                                         * * * 10.5" REAR AXLE

       * * *                  10.5" Rear Axle - 3.73 Std.                                    * * *
       * * *                  10.5" Rear Axle - 3.73 L/D                                     * * *
       * * *                  10.5" Rear Axle - 4.10 Std.                                    * * *
       * * *                  10.5" Rear Axle - 4.10 L/D                                     * * *
====================================================================================================
</TABLE>






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<PAGE>   7

<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                       <C>                                                        <C>
                               * * * 11.5" SINGLE WHEEL * * * REAR AXLE

       * * *                  11.5" SW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 4.10 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 4.10 L/D                                  * * *
----------------------------------------------------------------------------------------------------

                                * * * 11.5" DUAL WHEEL * * * REAR AXLE

       * * *                  11.5" DW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 4.10 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 4.10 L/D                                  * * *
----------------------------------------------------------------------------------------------------

                               * * * 11.5" DUAL WHEEL * * * REAR AXLE

       * * *                  11.5" SW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 4.10 L/D                                  * * *
       * * *                  11.5" SW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" SW Rear Axle - 4.10 L/D                                  * * *
----------------------------------------------------------------------------------------------------

                              * * * 11.5" DUAL WHEEL * * * REAR AXLE

       * * *                  11.5" DW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 3.73 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 3.73 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 4.10 L/D                                  * * *
       * * *                  11.5" DW Rear Axle - 4.10 Std.                                 * * *
       * * *                  11.5" DW Rear Axle - 4.10 L/D                                  * * *

====================================================================================================
</TABLE>



                                     3 of 6
<PAGE>   8

<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                  <C>                                                             <C>
                                        * * * 8.25" FRONT AXLE

       * * *         8.25" Front Axle - 3.73                                                 * * *
       * * *         8.25" Front Axle - 4.10                                                 * * *
----------------------------------------------------------------------------------------------------

                                    * * * 8.25" FRONT AXLE - (AWD)

       * * *         8.25" Front Axle - 3.73 (AWD)                                           * * *
       * * *         8.25" Front Axle - 4.10 (AWD)                                           * * *
----------------------------------------------------------------------------------------------------

                                * * * 9.25" FRONT AXLE - (POWER DENSE)

       * * *         9.25" Front Axle - 3.73 (Power Dense)                                   * * *
       * * *         9.25" Front Axle - 4.10 (Power Dense)                                   * * *
====================================================================================================
</TABLE>



                                     4 of 6
<PAGE>   9

<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                  <C>                                                             <C>

                                         * * * STABILIZER BAR

       * * *         Front Stabilizer Bar                                                    * * *
----------------------------------------------------------------------------------------------------

                                         * * * STABILIZER BAR

       * * *         Rear Stabilizer Bar                                                     * * *
       * * *         Rear Stabilizer Bar                                                     * * *

                                         * * * STABILIZER BAR

       * * *         Rear Stabilizer Bar Assembly                                            * * *
====================================================================================================
</TABLE>




                                     5 of 6
<PAGE>   10
<TABLE>
<CAPTION>
====================================================================================================
--------                           LIFETIME PROGRAM CONTRACT                          --------------
  logo                                       * * *                                      Exhibit: I
====================================================================================================
                                                                                          5/21/01
                                                                                            PER
    CURRENT P/N                                  DESCRIPTION                            UNIT PRICE
    -----------                                  -----------                            ----------
====================================================================================================
<S>                  <C>                                                             <C>
                                        * * * LINKAGE ASSEMBLY

       * * *         * * * Linkage Assembly                                                  * * *
       * * *         * * * Linkage Assembly                                                  * * *

                                           * * * PITMAN ARM

       * * *         * * * Pitman Arm                                                        * * *
       * * *         * * * Pitman Arm                                                        * * *

====================================================================================================
</TABLE>

* Portions of this Exhibit 10.02 were omitted and filed separately with the
Secretary of the Securities and Exchange Commission (the "Commission") pursuant
to an application for confidential treatment filed with the Commission pursuant
to Rule 406 under the Securities Act of 1933, as amended. Such portions are
marked by the symbol "* * *".




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