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                                                                    EXHIBIT 10.3


                           DEFERRED COMPENSATION PLAN
                          CHANGE OF CONTROL AGREEMENT

         THIS DEFERRED COMPENSATION PLAN CHANGE OF CONTROL AGREEMENT
("Agreement") is made as of the 16th day of June, 2004, between Dura Automotive
Systems, Inc., a Delaware corporation ("DASI"), Dura Operating Corp., a Delaware
corporation ("DOC" and together with DASI, "Dura") and James O. Futterknecht
("Participant").

         Participant is a participant under the Excel Industries, Inc. Restated
1989 Deferred Compensation Plan, as amended (the "Compensation Plan"), which has
been assumed by DOC in connection with the acquisition of Excel Industries, Inc.
by DASI and Dura is entering into this Agreement to provide Participant with
greater certainty in receiving any payments due to such Participant under the
Compensation Plan in the event of a Change of Control of Dura. (As used in this
Agreement, the term "Change of Control" and certain other capitalized terms have
the meanings ascribed to them in Section 7, at the end of this Agreement.)

         Dura and Participant agree, effective as of the date first set forth
above (the "Effective Date"), as follows:

1. Deferred Compensation Payment. Upon the occurrence of a Change of Control,
the Participant may elect, within 30 days after the Change of Control, to
receive a lump sum benefit payment equal to the total amount that the
Participant was entitled to receive under the Compensation Plan as of the date
of the Change of Control. The lump sum benefit shall be the lump sum actuarial
equivalent of a single life annuity (with a 10-year certain term) payable over
the lifetime of the Participant and will be calculated using the actuarial
assumptions used for FAS 87 purposes in the most recently audited annual report
and will be discounted to the net present value (using a discount rate equal to
the Prime Rate in effect on the date of the Change of Control plus 1.0%). The
lump sum benefit payment shall not be discounted due to commencement prior to
reaching age 65. This Section 1 is intended to override any provision of the
Compensation Plan that would otherwise cause Participant to receive an amount
which is less that what is provided for herein. This payment is in full
satisfaction of Dura's obligations to Participant under the Compensation Plan
and with respect to any provisions in other agreements which provide for
recognition of enhanced service under the Compensation Plan.

2.       Other Benefits.


         2.1. Reimbursement of Certain Expenses After a Change of Control.


         (a)      From and after a Change of Control, Dura or its successor
                  shall pay, as incurred, all expenses of Participant, including
                  the reasonable fees of counsel engaged by Participant, of
                  defending any action brought to have this agreement declared
                  invalid or unenforceable.

         (b)      From and after a Change of Control, Dura or its successor
                  shall pay, as incurred, all expenses of Participant, including
                  the reasonable fees of counsel engaged by Participant, of
                  prosecuting any action to compel Dura or its successor to
                  comply with the terms of this Agreement upon receipt from
                  Participant of an undertaking to repay Dura for such expenses
                  if, and only if, it is ultimately determined by a

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                  court of competent jurisdiction that Participant had no
                  reasonable grounds for bringing that action (which
                  determination need not be made simply because Participant
                  fails to succeed in the action).

         (c)      From and after a Change of Control, expenses (including
                  attorney's fees) incurred by Participant in defending any
                  action, suit, or proceeding commenced or threatened (whether
                  before or after the Change of Control) against Participant for
                  any action or failure to act as an employee, officer, or
                  director of Dura or any Subsidiary shall be paid by Dura or
                  its successor, as they are incurred, in advance of final
                  disposition of the action suit, or proceeding upon receipt of
                  an undertaking by or on behalf of Participant in which
                  Participant agrees to reasonably cooperate with Dura, its
                  Subsidiary or successor, as the case may be, concerning the
                  action, suit, or proceeding and (i) if the action, suit, or
                  proceeding is commenced or threatened against Participant for
                  any action or failure to act as a director, to repay the
                  amount if it is proved by a preponderance of evidence in a
                  court of competent jurisdiction that Participant's action or
                  failure to act involved an act or omission undertaken with
                  deliberate intent to cause injury to Dura or a Subsidiary or
                  undertaken with gross negligence for the best interests of
                  Dura or a Subsidiary, or (ii) if the action, suit, or
                  proceeding is commenced or threatened against Participant for
                  any action or failure to act as an officer or employee, to
                  repay the amount if it is ultimately determined that
                  Participant is not entitled to be indemnified.

         2.2. Indemnification. From and after a Change of Control, Dura shall
indemnify Participant, to the full extent permitted or authorized by the
Delaware General Corporation Law as it may from time to time be amended, if
Participant is (whether before or after the Change of Control) made or
threatened to be made a party to any threatened, pending, or completed action,
suit, or proceeding, whether civil, criminal, administrative, or investigative,
by reason of the fact that Participant is or was a director, officer, or
employee of Dura or any Subsidiary, or is or was serving at the request of Dura
or any subsidiary as a director, trustee, officer, or employee of a corporation,
partnership, joint venture, trust, or other enterprise. The indemnification
provided by this Subsection 2.2 shall not be deemed exclusive of any other
rights to which Participant may be entitled under the certificate of
incorporation or the by-laws of Dura or of any Subsidiary, or any agreement,
vote of shareholders or disinterested directors, or otherwise, both as to action
in Participant's official capacity and as to action in another capacity while
holding such office, and shall continue as to Participant after Participant has
ceased to be a director, trustee, officer, or employee and shall inure to the
benefit of the heirs, executors, and administrators of Participant.

3. No Set-Off; No Effect Upon Other Plans. Dura's obligation to make the
payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense, or other claim whatsoever that Dura or any of its Subsidiaries may have
against Participant. Except as provided in the last sentence of this Section 3,
neither the amount of any payment provided for under this Agreement nor
Participant's right to any other benefit under this Agreement shall be reduced
by any compensation or benefits earned by Participant as the result of
employment by another employer or otherwise after the termination of
Participant's employment. Neither the provisions of this Agreement, nor the
execution of the waiver and release referred to in Subsection 4.2 below, nor the
making of any


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payment provided for hereunder shall reduce any amounts otherwise payable, or in
any way diminish Participant's rights, under any stock option plan,
tax-qualified retirement plan, disability or insurance plan, or other similar
contract, plan, or arrangement of Dura, except that the payment under Section 1
shall satisfy in full all obligations Dura has to Participant for payments under
the Compensation Plan.

4.       Certain Limitations on Benefits.

         4.1. Taxes; Withholding of Taxes. Without limiting either the right of
Dura to withhold taxes pursuant to this Subsection 4.1, Participant shall be
responsible for all income, excise, and other taxes (federal, state, city, or
other) imposed on or incurred by Participant as a result of receiving the
payments provided in this Agreement, including, without limitation, the payments
provided under Section 1 of this Agreement. Dura or any of its Subsidiaries may
withhold from any amounts payable under this Agreement all federal, state, city,
or other taxes as Dura or any of its Subsidiaries shall determine to be required
pursuant to any law or government regulation or ruling.

         4.2. Waiver and Release. Dura may condition the payment of any amounts
otherwise due under Section 1 of this Agreement upon (a) the execution by
Participant of a waiver and release in the form attached to this Agreement as
Exhibit A, with blanks appropriately filled and, in the case of clause (e)
contained therein, completed with the number of days that Dura determines is
required under applicable law, but in no event more than 45 days, and (b) the
observation of such waiting or revocation periods, if any, before and after
execution of the waiver and release by Participant as are required by law, such
as, for example, the waiting or revocation periods required for a waiver and
release to be effective with respect to claims under the Age Discrimination in
Employment Act, provided that Dura delivers to Participant such a waiver and
release, appropriately completed, within seven days of the Termination Date.

5. Term of this Agreement. This Agreement shall be effective as of the Effective
Date and shall thereafter apply to any Change of Control occurring after the
Effective Date.

6.       Miscellaneous.


         6.1. Successor to Dura. Dura shall not consolidate with or merge into
any other corporation, or sell, transfer or dispose of all or substantially all
of its assets to another corporation or other entity, unless such other
corporation or other entity shall assume this Agreement in a signed writing and
deliver a copy thereof to Participant. Upon such assumption the successor
corporation or other entity shall become obligated to perform the obligations of
Dura under this Agreement and the term "Dura" as used in this Agreement shall be
deemed to refer to such successor corporation or other entity.

         6.2. Notices. For purposes of this Agreement, notices and all other
communications provided for in this Agreement shall be in writing and shall be
deemed to have been duly given (a) when delivered in person (to Participant in
the case of notices to Participant and to the Secretary of Dura in the case of
notices to Dura) or (b) on the date actually received when sent by United States
registered mail, return receipt requested, postage prepaid, and addressed, in
the case of notices to Dura, as follows:




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                  Dura Automotive Systems, Inc.
                  2791 Research Drive
                  Rochester Hills, MI  48309
                  Attention:   Secretary

and, in the case of notices to Participant, properly addressed to Participant at
Participant's most recent home address as shown on the records of Dura, or such
other address as either party may have furnished to the other in writing in
accordance herewith, except that notices of change of address shall be effective
only upon receipt.

         6.3. Administration. Dura shall be responsible for the general
administration of this Agreement. All fees and expenses billed by the Accounting
Firm for services contemplated under this Agreement shall be the responsibility
of Dura.

         6.4. Source of Payments. DASI and DOC shall be jointly and severally
liable for all payments required under this Agreement. All payments under this
Agreement shall be made in cash and shall be made solely from the general assets
of DASI or DOC (or from a grantor trust, if any, established by Dura for
purposes of making payments under this Agreement and other similar agreements),
and Participant shall have the rights of an unsecured general creditor of DASI
and DOC with respect thereto.

         6.5. Validity. The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement which shall remain in full force and effect.

         6.6. Modification, Waiver, Etc. No provision of this Agreement may be
modified, waived, or discharged unless such waiver, modification, or discharge
is agreed to in a writing signed by Participant and Dura. No waiver by either
party hereto at any time of any breach by the other party of, or compliance
with, any condition or provision of this Agreement to be performed by such other
party shall be deemed a waiver of similar or dissimilar provisions or conditions
at the same time or at any prior or subsequent time. No agreement or
representation, oral or otherwise, express or implied, with respect to the
subject matter hereof has been made by either party that is not set forth
expressly in this Agreement. This Agreement shall inure to the benefit of and be
enforceable by Participant's personal representatives, executors,
administrators, successors, heirs, and designees. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware.

7.       Definitions.

         7.1. Change of Control. A "Change of Control" shall be deemed to have
occurred if at any time or from time to time while this Agreement is in effect:

         (a)      any person (other than Dura, any of its Subsidiaries, any
                  employee benefit plan or employee stock ownership plan of
                  Dura, or any person organized, appointed, or established by
                  Dura for or pursuant to the terms of any such plan), alone or
                  together with any of its affiliates, becomes the beneficial
                  owner of 15% or more (but less than 50%) of the Common Stock
                  then outstanding;




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         (b)      Any person (other than Dura, any of its Subsidiaries, any
                  employee benefit plan or employee stock ownership plan of
                  Dura, or any person organized, appointed, or established by
                  Dura for or pursuant to the terms of any such plan), alone or
                  together with any of its affiliates, becomes the beneficial
                  owner of 50% or more of the Common Stock then outstanding;

         (c)      Any person commences or publicly announces an intention to
                  commence a tender offer or exchange offer the consummation of
                  which would result in the person becoming the beneficial owner
                  of 15% or more of the Common Stock then outstanding;

         (d)      At any time during any period of 24 consecutive months,
                  individuals who were directors at the beginning of the
                  24-month period no longer constitute a majority of the members
                  of the Board of Directors of Dura, unless the election, or the
                  nomination for election by Dura's stockholders, of each
                  director who was not a director at the beginning of the period
                  is approved by at least a majority of the directors who (i)
                  are in office at the time of the election or nomination and
                  (ii) were directors at the beginning of the period;

         (e)      A record date is established for determining stockholders
                  entitled to vote upon (i) a merger or consolidation of Dura
                  with another corporation in which those persons who are
                  stockholders of Dura immediately before the merger or
                  consolidation are to receive or retain less than 50% of the
                  stock of the surviving or continuing corporation, (ii) a sale
                  or other disposition of all or substantially all of the assets
                  of Dura and its Subsidiaries, taken as a whole, or (iii) the
                  dissolution of Dura; or

         (f)      (i) Dura is merged or consolidated with another corporation
                  and those persons who were stockholders of Dura immediately
                  before the merger or consolidation receive or retain less than
                  50% of the stock of the surviving or continuing corporation,
                  (ii) there occurs a sale, transfer or other disposition of all
                  or substantially all of the assets of Dura, or (iii) Dura is
                  dissolved.

Notwithstanding anything herein to the contrary, if an event described in clause
(b), clause (d), or clause (f) above occurs, the occurrence of that event will
constitute an irrevocable Change of Control. Furthermore, notwithstanding
anything herein to the contrary, if an event described in clause (c) occurs, and
the Board of Directors either approves such offer or takes no action with
respect to such offer, then the occurrence of that event will constitute an
irrevocable Change of Control. On the other hand, notwithstanding anything
herein to the contrary, if an event described in clause (a), or clause (e),
above occurs, or if an event described in clause (c) occurs and the Board of
Directors does not either approve such offer or take no action with respect to
such offer as described in the preceding sentence, and a majority of those
members of the Board of Directors who were Directors prior to such event
determine, within the 90-day period beginning on the date such event occurs,
that the event should not be treated as a Change of Control, then, from and
after the date that determination is made, that event will be treated as not
having occurred. If no such determination is made, a Change of Control resulting
from any of the


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events described in the immediately preceding sentence will constitute an
irrevocable Change of Control on the 91st day after the occurrence of the event.

         7.2. Subsidiary. A "Subsidiary" means any corporation, partnership, or
other entity a majority of the voting control of which is directly or indirectly
owned or controlled at the time in question by Dura.















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

                                      Dura Automotive Systems, Inc.

                                      By:      /s/ Lawrence A. Denton
                                          -----------------------------------
                                      Name:    Lawrence A. Denton
                                      Title:    President & CEO

                                      Dura Operating Corp.

                                      By:      /s/ Lawrence A. Denton
                                          -----------------------------------
                                      Name:    Lawrence A. Denton
                                      Title:    President & CEO

                                                   "PARTICIPANT"
                                               /s/ James O. Futterknecht
                                          -----------------------------------
                                      Name:  James O. Futterknecht















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