Document:

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                                                                Exhibit 10.1

                        MERIDIAN AUTOMOTIVE SYSTEMS, INC.

                        ANNUAL MANAGEMENT INCENTIVE PLAN

                         EFFECTIVE AS OF JANUARY 1, 2002

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                                TABLE OF CONTENTS

                                                                           Page
                                                                           ----

   1.  Administration of the Plan............................................1

   2.  Performance Periods...................................................1

   3.  Participation.........................................................1

   4.  Plan Awards...........................................................2

   5.  Performance Award Payment Date........................................5

   6.  Form of Payment.......................................................5

   7.  Events of Forfeiture..................................................5

   8.  Source of Benefits....................................................5

   9.  Liability of Officers and Plan Members................................6

   10.  Unsecured General Creditor...........................................6

   11.  Arbitration..........................................................6

   12.  Amendment or Termination of Plan.....................................6

   13.  Assignability........................................................6

   14.  Obligations to the Company...........................................6

   15.  No Promise of Continued Employment...................................7

   16.  Captions.............................................................7

   17.  Pronouns.............................................................7

   18.  Validity.............................................................7

   19.  Applicable Law.......................................................7

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                        MERIDIAN AUTOMOTIVE SYSTEMS, INC.
                        ANNUAL MANAGEMENT INCENTIVE PLAN
                         Effective as of January 1, 2002

                                  INTRODUCTION

     Meridian Automotive Systems, Inc. (the "Company") hereby establishes the
Meridian Automotive Systems, Inc. Annual Management Incentive Plan (the "Plan"),
effective as of January 1, 2002. The purpose of the Plan is to enhance
management's focus on specific performance goals for the Company with respect to
profitability, safety, quality, delivery and other operating metrics. The Plan
is an annual cash bonus payroll practice plan. The Plan is not intended to be an
employee benefit plan within the meaning of Section 3(3) of the Employee
Retirement Income Security Act of 1974, as amended, and the Plan shall be
interpreted, administered and enforced to the extent possible in a manner
consistent with that intent. Any obligations under the Plan shall be the joint
and several obligations of the Company, and each of its subsidiaries and
affiliates. The Plan is designed to comply with the performance-based
compensation exception under Section 162(m) of the Internal Revenue Code of
1986, as amended (the "Code").

     1. ADMINISTRATION OF THE PLAN. This Plan shall be administered by the
Compensation Committee (the "Committee") of the Board of Directors of the
Company (the "Board"). The Committee shall consist of not less than two members
of the Board who shall be appointed from time to time by, and shall serve at the
discretion of, the Board. Each member of the Committee shall be an "outside
director" within the meaning of Section 162(m) of the Code. The Committee may
delegate certain administration responsibilities to the Executive Management
Committee (the "EMC"), including, but not limited to, administering
participation, maintaining records of participants, maintaining records of
financial and non-financial indicators, as subject to the approval and/or review
from time to time by the Committee. The EMC shall consist of the Chairman of the
Board, and the Company's Chief Executive Officer, Chief Financial Officer, and
Vice President of Human Resources, and such other individuals as may be
designated from time to time by the Chief Executive Officer.

     2. PERFORMANCE PERIODS. Each performance period under the Plan shall be the
twelve-month period commencing on January 1 and ending on the following December
31 ("Performance Period"). The EMC shall maintain records of authorized
participants for each Performance Period.

     3. PARTICIPATION. A salaried management employee of the Company shall be
eligible to participate in this Plan (a "Plan Member") upon selection by the
Committee or its delegate, the EMC, subject to the approval and/or review from
time to time by the Committee. The Committee, or if applicable the EMC, shall
establish such criteria for eligibility as it determines, in its discretion, to
be appropriate and in the best interests of the Company. Notwithstanding the
foregoing, any covered employee as defined in Section 162(m)(3) of the Code
("Covered Employee"), shall be designated to

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participate in the Plan by the Committee in writing within the time period
prescribed by Section 162(m) of the Code and related regulations.

     In general, to be eligible to participate in a Performance Period, the
salaried management employee must have completed one year of service on or
before the last day of the prior Performance Period and must be actively at work
on the last day of the prior Performance Period. Notwithstanding the foregoing,
the Committee may designate a newly hired employee as eligible to participate in
the Plan on a pro-rata basis in the Plan Member's first year of employment with
the Company, with such pro-ration of the incentive payout established as part of
the hiring agreement approved by the Vice President of Human Resources.

     4. PLAN AWARDS.

     (a) PERFORMANCE AWARDS. Any amount awarded to a Plan Member under this Plan
shall be referred to herein as a "Performance Award." At the end of each
Performance Period, the Committee shall award a Performance Award to each
Participant in accordance with the following formula:

            Performance Award     =       Participant's Base Salary
                                                multiplied by
                                          Target Bonus Percentage
                                                multiplied by
                                        Company Performance Percentage

A Plan Member's base salary for purposes of this Plan shall be the amount of
salary the Plan Member earns from the Company as of the last day of the
Performance Period on an annualized basis. If a Plan Member is designated to
participate in the Plan after the commencement of a Performance Period, such
individual's Performance Award will be prorated based on the Plan Member's
period of participation in the Plan during such Performance Period. The
Committee may delegate the calculation of Performance Awards under the Plan to
the Company's Chief Financial Officer, subject to the Committee's supervision.

     (b) TARGET BONUS PERCENTAGE. A Plan Member's Target Bonus Percentage with
respect to any Performance Period is the percentage of base salary available for
award if the Company achieves certain Performance Goals as determined by the
Committee under paragraph (c). Each Plan Member shall be assigned a salary
grade, based on his job responsibilities, level of management and overall
contribution to the Company. Each year, the Committee or the EMC will assign a
Target Bonus Percentage to each salary grade. A Plan Member's Target Bonus
Percentage may be changed from time to time at the discretion of the Committee
or the EMC. Notwithstanding the foregoing, the Committee shall assign or change,
in writing, the Target Bonus Percentage for any Covered Employee for a
particular Performance Period within the time period prescribed by Section
162(m) of the Code and related regulations.

     (c) PERFORMANCE GOALS/PERCENTAGES. For each Performance Period, the
Committee shall set forth in writing each financial and non-financial
performance goal

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(a "Performance Goal") to be achieved by the Company for the Performance Period.
For each Performance Goal, the Committee shall assign a threshold goal, a target
goal and a maximum goal percentage. Each Performance Goal may be weighted
differently by the Committee; provided, the total percentage for all Performance
Goals shall be one hundred percent. The Committee shall determine a Performance
Goal percentage for each Performance Goal at the end of each Performance Period,
determined as follows:

          (i)  If the Company's performance in a Performance Goal category for
               the Performance Period is at or above the threshold but falls
               below the target goal, the Committee, in its discretion and in
               accordance with Section 4(e)(iii), shall assign a percentage less
               than 100% of the weighted target for that Performance Goal, which
               shall result in a Performance Goal Percentage of less than the
               weighted target percentage for that Performance Goal.

          (ii) If the Company's performance in the Performance Goal category for
               the Performance Period is at the target goal, the Committee shall
               assign a percentage of 100% of the weighted target, which shall
               result in a Performance Goal percentage of the weighted target
               percentage for that Performance Goal.

         (iii) If the Company's performance in the Performance Goal category
               for the Performance Period exceeds the target goal, the
               Committee, in its discretion and in accordance with Section
               4(e)(iii), shall assign a percentage greater than 100% of the
               weighted target, which shall result in a Performance Goal
               Percentage of greater than the weighted target percentage for
               that Performance Goal.

The threshold, target and maximum performance goals shall be communicated in
writing by the Human Resources Department to Plan Members as soon as practicable
at the beginning of each Performance Period, but with respect to Covered
Employees, no later than the time period prescribed by Section 162(m) of the
Code and related regulations. Different weighting percentages, threshold and
target goals may apply with respect to corporate Plan Members and operating
group Plan Members.

     (d) COMPANY PERFORMANCE PERCENTAGE. The Company Performance Percentage for
each Performance Period shall reflect the Company's aggregate performance of its
Performance Goals, and shall be determined each Performance Period by the sum of
the Performance Goal percentages for the Performance Goals for the Performance
Period. If all financial Performance Goal thresholds are met for a Performance
Period, the minimum and maximum Company Performance Percentages shall be as
follows:

                                       3
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<Table>
<Caption>
         Aggregate Company                       Company
         Performance Level               Performance Percentage
         -----------------               ----------------------
<S>                                            <C>

             Threshold                          0%
             Target                           100%
             Maximum                          175%
</Table>

The threshold Company Performance Percentage shall be for aggregate Company
performance that meets the threshold Performance Goals for payment of an award.
The target Company Performance Percentage shall be for aggregate Company
performance that meets expected Performance Goals. The maximum award percentage
shall be for achieving exceptional results.

     (e) PERFORMANCE AWARD RESTRICTIONS. Notwithstanding anything in the Plan to
the contrary, payment of Performance Awards under the Plan shall be subject to
the following restrictions:

          (i)  If the threshold level for all of a Plan Member's financial
               Performance Goals for a Performance Period are not met, the Plan
               Member will not receive a Performance Award for such Performance
               Period regardless of the performance related to the non-financial
               Performance Goals.

          (ii) If the threshold level of any of a Plan Member's non-financial
               Performance Goals are not met for a Performance Period, the
               weighted percentage for that non-financial Performance Goal will
               not be included in the Company Performance Percentage for that
               Performance Period.

         (iii) When calculating a Performance Goal percentage or the Company
               Performance Percentage for Performance Period, the Committee
               shall, to the extent possible, in its discretion, interpolate on
               a straight-line basis between the minimum threshold and target
               levels (0% to 100%) and between target and maximum levels (100%
               to 175%).

          (iv) The Committee may establish such other parameters and procedures
               for determining Performance Awards as it deems appropriate with
               respect to any Performance Period.

     (f) SPECIAL AWARDS. For Plan Members who are not Covered Employees, the
Committee may, in its discretion, grant special additional awards or reduce a
Plan Member's award under the Plan. Subject to the foregoing subsections, the
Committee may grant with respect to any Performance Period a special Performance
Award to any Covered Employee if a specified level of net income is achieved by
the Company. The level of net income required to achieve any such award and the
amount of any such award shall be established by the Committee in writing within
the time period prescribed by Section 162(m) of the Code and related
regulations.

                                       4
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     5. PERFORMANCE AWARD PAYMENT DATE. The Performance Award Payment Date is
the date on which any Performance Awards are paid to Plan Members, which date
shall not be more than 90 days following the last day of each Performance
Period. Before any Performance Award is paid to a Covered Employee, the
Committee shall certify in writing that the criteria for receiving a Performance
Award pursuant to the terms of the Plan have been satisfied.

     6. FORM OF PAYMENT. All Performance Awards will be paid in a single
lump-sum payment in cash. The Company will withhold such payroll or other taxes
as it determines to be necessary or appropriate.

     7. EVENTS OF FORFEITURE.

     (a) DEATH, DISABILITY OR RETIREMENT. If during a Performance Period a Plan
Member dies, becomes totally and permanently disabled (as determined by the
EMC), or retires, the Plan Member (or his estate in the case of death) shall be
entitled under this Plan to a prorated Performance Award, if any, based on the
Plan Member's period of active participation during such Performance Period. Any
such amount shall be paid in cash and in full satisfaction of any claims the
Plan Member may have under this Plan.

     (b) TERMINATION FOR OTHER REASONS. A Plan Member whose employment
terminates due to any reason other than death, disability or retirement shall
forfeit all rights to any Performance Award that has not been actually paid as
of the date of the Plan Member's termination.

     (c) REMOVAL FROM THE PLAN. A Plan Member may be removed from further
participation in this Plan by the Committee or the EMC and such removal shall be
effective as of the date determined by the Committee or the EMC. In such a case,
the Plan Member shall be eligible to receive a prorated Performance Award, if
any, based on his period of participation during the Performance Period in which
his removal occurs, subject to the other provisions of the Plan.

     (d) LEAVE OF ABSENCE. If during a Performance Period, a Plan Member is
absent from employment with the Company for a period of more than 90 consecutive
calendar days for any reason, the Plan Member's participation in the Plan will
be suspended for the period of such absence exceeding 90 days, and he shall be
entitled under this Plan to a prorated Performance Award, if any, based on his
period of participation during such Performance Period, subject to the other
provisions of the Plan.

     8. SOURCE OF BENEFITS. The Company shall make any cash payments due under
the terms of this Plan directly from its assets or from any trust that the
Company may choose to establish and maintain from time to time. Nothing
contained in this Plan shall give or be deemed to give any Plan Member or any
other person any interest in any property of any such trust or in any property
of the Company, nor shall any Plan Member or any other person have any right
under this Plan not expressly provided by

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the terms hereof, as such terms may be interpreted and applied by the Committee
in its discretion.

     9. LIABILITY OF OFFICERS AND PLAN MEMBERS. No current or former employee,
officer, director or agent of the Company or its subsidiaries or affiliates
shall be personally liable to any Plan Member or other person to pay any benefit
payable under any provision of this Plan or for any action taken by any such
person in the administration or interpretation of this Plan.

     10. UNSECURED GENERAL CREDITOR. The rights of a Plan Member (or his
beneficiary in the event of his death) under this Plan shall only be the rights
of a general unsecured creditor of the Company, and the Plan Member (or his
designated beneficiary) shall not have any legal or equitable right, interest,
or other claim in any property or assets of the Company by reason of the
establishment of this Plan.

     11. ARBITRATION. Any dispute under this Plan shall be submitted to binding
arbitration subject to the rules of the American Arbitration Association before
an arbitrator selected by the Company and acceptable to the Plan Member. If the
Plan Member objects to the appointment of the arbitrator selected by the
Company, and the Company does not appoint an arbitrator acceptable to the Plan
Member, then the Company and the Plan Member shall each select an arbitrator and
those two arbitrators shall collectively appoint a third arbitrator who shall
alone hear and resolve the dispute. The Company and the Plan Member shall share
equally the costs of arbitration. No Company agreement of indemnity, whether
under its Articles of Incorporation, the bylaws or otherwise, and no insurance
by the Company, shall apply to pay or reimburse any Plan Member's costs of
arbitration.

     12. AMENDMENT OR TERMINATION OF PLAN. The Board expressly reserves for
itself and for the Committee the right and the power to amend or terminate the
Plan at any time. In such a case, unless the Committee otherwise expressly
provides at the time the action is taken, no Performance Awards shall be paid to
any Plan Member on or after the date of such action.

     13. ASSIGNABILITY. Plan Members may not alienate, assign, sell, transfer,
pledge, encumber, attach, mortgage or otherwise hypothecate or convey in advance
of actual receipt the amounts, if any, payable hereunder, and any attempt to do
so shall be void. No part of the amounts payable hereunder shall, prior to
actual payment, be subject to seizure or sequestration for the payment of any
debts, judgments, alimony or separate maintenance, nor shall any person have any
other claim to any benefit payable under this Plan as a result of a divorce of a
Plan Member, or any other person's bankruptcy or insolvency.

     14. OBLIGATIONS TO THE COMPANY. If a Plan Member becomes entitled to
payment of any amounts under this Plan, and if at such time the Plan Member has
any outstanding debt, obligation or other liability representing an amount owed
to the Company, then the Company may offset such amounts against the amounts
otherwise payable under this Plan. Such determination shall be made by the
Committee or the Board.

                                       6
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     15. NO PROMISE OF CONTINUED EMPLOYMENT. Nothing in this Plan or in any
materials describing or relating to this Plan grants, nor should it be deemed to
grant, any person any employment right, nor does participation in this Plan
imply that any person has been employed for any specific term or duration or
that any person has any right to remain in the employ of the Company. Subject to
the provisions of Section 7 hereof, the Company retains the right to change or
terminate any condition of employment of any Plan Member without regard to any
effect any such change has or may have on such person's rights hereunder.

     16. CAPTIONS. The captions to the paragraphs of this Plan are for
convenience only and shall not control or affect the meaning or construction of
any of its provisions.

     17. PRONOUNS. Masculine pronouns and other words of masculine gender shall
refer to both men and women.

     18. VALIDITY. In the event any provision of this Plan is found by a court
of competent jurisdiction to be invalid, void, or unenforceable, such provision
shall be stricken and the remaining provisions shall continue in full force and
effect.

     19. APPLICABLE LAW. To the extent not preempted by federal law, this Plan
shall be construed in accordance with and governed by the law of the State of
Delaware.

     IN WITNESS WHEREOF, the undersigned officer of Meridian Automotive Systems,
Inc. has executed this document to certify the Company's adoption of the amended
and restated Plan, effective as of January 1, 2002.

DATE:  ________________                MERIDIAN AUTOMOTIVE SYSTEMS, INC.

                                       By:
                                           -----------------------------------

                                       Its:
                                           -----------------------------------

                                       7<Page>

                                                                    Exhibit 10.2

                        MERIDIAN AUTOMOTIVE SYSTEMS, INC.

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                     (RESTATED EFFECTIVE AS OF JULY 1, 2002)

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                                TABLE OF CONTENTS
                                                                          PAGE

ARTICLE I  ESTABLISHMENT AND PURPOSE......................................... 1

      1.1   Establishment.................................................... 1
      1.2   Purpose.......................................................... 1
      1.3   Status of Plan Under ERISA....................................... 1
      1.4   Coordination with Deferred Compensation Plan..................... 1

ARTICLE II  DEFINITIONS...................................................... 1

      2.1   "Accounts"........................................................1
      2.2   "Base Salary".....................................................1
      2.3   "Beneficiary".....................................................2
      2.4   "Board of Directors"..............................................2
      2.5   "Bonus"...........................................................2
      2.6   "Cause"...........................................................2
      2.7   "Change in Control"...............................................2
      2.8   "Code"............................................................3
      2.9   "Company".........................................................3
      2.10  "Deferred Compensation Plan"......................................3
      2.11  "Disabled" or "Disability"........................................3
      2.12  "Distributable Event".............................................3
      2.13  "Elective Deferrals"..............................................3
      2.14  "Elective Deferrals Accounts".....................................4
      2.15  "Employee"........................................................4
      2.16  "Employer"........................................................4
      2.17  "Employer Contribution Accounts"..................................4
      2.18  "ERISA"...........................................................4
      2.19  "Good Reason".....................................................4
      2.20  "Grandfathered 401(k) Plan".......................................4
      2.21  "Grandfathered Base Contribution Account".........................5
      2.22  "Global 401(k) Plan"..............................................5
      2.23  "Investment Results"..............................................5
      2.24  "Matching Contributions"..........................................5
      2.25  "Participant".....................................................5
      2.26  "Plan"............................................................5
      2.27  "Plan Administrator"..............................................5
      2.28  "Plan Year".......................................................5
      2.29  "Retirement"......................................................5
      2.30  "Trust Agreement".................................................5
      2.31  "Trust Fund"......................................................5
      2.32  "Trustee".........................................................5

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                               TABLE OF CONTENTS
                                  (continued)

                                                                            PAGE

ARTICLE III  PARTICIPATION....................................................5

      3.1   Eligibility for Participation.....................................5
      3.2   Termination of Active Participation...............................6

ARTICLE IV  AMOUNTS CREDITED TO ACCOUNTS......................................6

      4.1   Participants' Accounts............................................6
      4.2   Prior Credits of Elective Deferrals...............................6
      4.3   Amounts Credited as Matching Contributions........................6
      4.4   Amounts Credited for Participants in
            the Grandfathered 401(k) Plan.....................................7
      4.5   Amounts Credited for Participants in the Global 401(k) Plan.......7
      4.6   Investment Results................................................8
      4.7   Statements........................................................8

ARTICLE V  VESTING ...........................................................8

      5.1   Grandfathered Base Contribution Account...........................8
      5.2   Employer Contribution Account.....................................9

ARTICLE VI  DISTRIBUTION OF BENEFITS..........................................9

      6.1   Distributable Events..............................................9
      6.2   Amount of Benefit.................................................9
      6.3   Form and Time of Payment..........................................9
      6.4   Right of Offset..................................................10
      6.5   Tax Withholding..................................................10

ARTICLE VII  FUNDING ........................................................10

      7.1   Establishment of Trust Fund......................................10
      7.2   Status as Grantor/Rabbi Trust....................................11
      7.3   Status of Participants as Unsecured Creditors....................11

ARTICLE VIII  ADMINISTRATION.................................................11

      8.1      Plan Administrator............................................11
      8.2      Delegation of Duties..........................................11
      8.3      Powers of Plan Administrator..................................11
      8.4      Standard of Care..............................................12
      8.5      Claims Procedure..............................................12

ARTICLE IX  MISCELLANEOUS....................................................13

      9.1      No Assignment.................................................13
      9.2      Notices and Communications....................................13
      9.3      Receipt and Release...........................................14
      9.4      Employment Rights.............................................14

                                       ii
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                               TABLE OF CONTENTS
                                  (continued)

                                                                            PAGE

      9.5      Amendment or Termination......................................14
      9.6      Severability..................................................14
      9.7      Headings........................,.............................14
      9.8      Construction..................................................14
      9.9      Governing Law.................................................14

                                      iii
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                        MERIDIAN AUTOMOTIVE SYSTEMS, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                     (RESTATED EFFECTIVE AS OF JULY 1, 2002)

                                   ARTICLE I
                            ESTABLISHMENT AND PURPOSE

     1.1 ESTABLISHMENT. Meridian Automotive Systems, Inc., a Michigan
corporation (the "Company"), established the American Bumper & Mfg. Co.
Supplemental Executive Savings Plan (the "Plan") effective as of July 1, 1998.
The Company amended and restated the Plan as the Meridian Automotive Systems,
Inc. Supplemental Executive Retirement Plan, effective January 1, 2000. The
Company hereby further amends and restates the Plan, effective July 1, 2002.

     1.2 PURPOSE. The Company desires to retain the services of a select group
of executives who contribute to the profitability and success of the Company and
the affiliates to which it extends participation in the Plan. The Company
maintains the Plan to provide the executives who participate in the Plan with
additional retirement income, including retirement income to reflect amounts
that cannot be contributed on their behalf on account of Internal Revenue Code
limitations.

     1.3 STATUS OF PLAN UNDER ERISA. The Plan is intended to be "unfunded" and
maintained "primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees" for purposes of
ERISA. Accordingly, the Plan is not intended to be covered by Parts 2 through 4
of Subtitle B of Title I of ERISA. The existence of any Trust Fund is not
intended to change this characterization of the Plan.

     1.4 COORDINATION WITH DEFERRED COMPENSATION PLAN. Through June 30, 2002,
Participants could voluntarily defer certain compensation under the Plan, which
amounts were credited on the Participant's behalf under the Plan. Effective as
of July 1, 2002, all such deferred amounts were transferred to, and became
credited as the initial account balances for each such Participant under, the
Meridian Automotive Systems, Inc. Deferred Compensation Plan, established by the
Company effective as of July 1, 2002 (the "Deferred Compensation Plan").

                                   ARTICLE II
                                   DEFINITIONS

     The following terms shall have the meanings described in this Article
unless the context clearly indicates another meaning. All references in the Plan
to specific articles or sections shall refer to Articles or Sections of the Plan
unless otherwise stated.

     2.1 "ACCOUNTS" means the bookkeeping records of the amounts credited on a
Participant's behalf under the Plan.

     2.2 "BASE SALARY" means the annual base salary payable by the Employer to
an Employee for services performed during any Plan Year that would be includible
in

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the Employee's gross income for such year, determined before deductions made
with respect to this Plan, the Deferred Compensation Plan or any other plan
maintained by the Employer permitting pre-tax contributions or deferrals. Base
Salary does not include income from stock option exercises, Bonuses, other types
of non-recurring compensation or incentive awards, or payments or contributions
to group insurance and other employee benefit plans maintained by the Employer.

     2.3 "BENEFICIARY" means the beneficiary designated in writing by the
Participant to receive benefits from the Plan in the event of his death. The
Beneficiary shall be designated on a form approved by the Company, and the
Participant may change the Beneficiary designation at any time by completing a
new form and submitting it to the Plan Administrator. If the Participant
designates a trust as Beneficiary, the Company shall determine the rights of the
trustee without responsibility for determining the validity, existence, or
provisions of the trust. Further, the Company shall not have responsibility for
the application of sums paid to the trustee or for the discharge of the trust. A
Participant may designate multiple Beneficiaries. If the Participant fails to
designate a Beneficiary, or if no Beneficiary survives the Participant by at
least 60 days, payment shall be made to the Participant's estate.

     2.4 "BOARD OF DIRECTORS" Means the Company's Board of Directors.

     2.5 "BONUS" means each payment of non-periodic cash compensation to a
Participant other than Base Salary and reimbursement of expenses. The Plan
Administrator shall periodically determine which types of payment shall be
considered a separate Bonus for purposes of the Plan.

     2.6 "CAUSE" means a willful engaging in gross misconduct materially and
demonstrably injurious to the Employer. For this purpose, "willful" means an act
or omission in bad faith and without reasonable belief that such act or omission
was in or not opposed to the best interests of the Employer.

     2.7 "CHANGE IN CONTROL" means one of the following has occurred:

          (i)  any "Person" (as such term is used in Sections 13(d) and 14(d) of
               Securities Exchange Act of 1934, as amended (the "Exchange
               Act")), is or becomes the beneficial owner (as defined in Rules
               13d-3 and 13d-5 under the Exchange Act, except that a Person
               shall be deemed to have "beneficial ownership" of all shares that
               any such Person shall be deemed the right to acquire, whether
               such right is exercisable immediately or only after the passage
               of time), directly or indirectly, of more than thirty-five (35)
               percent of the total voting power of the Voting Equity Interests
               of Meridian; provided, however, that a Person shall not be deemed
               the "beneficial owner" of shares tendered pursuant to a tender or
               exchange offer made by that Person or any affiliate of that
               Person until the tendered shares are accepted for purchase or
               exchange;

                                       2
<Page>

          (ii) the composition of the Board of Directors changing during any
               24-month period such that the individuals who at the beginning of
               the period were members of the Board of Directors (the
               "Continuing Directors") cease for any reason to constitute at
               least a majority of the Board; unless at least 66-2/3% of the
               Continuing Directors has either (i) approved the election of the
               new Directors, or (ii) if the election of the new Directors is
               voted on by shareholders, recommended that the shareholders vote
               for approval; or

         (iii) the Board of Directors of the Company declaring (publicly or by
               resolution) that a Change in Control has occurred.

          Notwithstanding the foregoing, that a "Change In Control" shall not be
          deemed to occur as a result of (i) the sale or transfer of any
          beneficial ownership interest of Meridian equity securities from any
          Person that was a beneficial owner, directly or indirectly, of such
          securities on July 1, 2002, or any of their respective Affiliates (a
          "Current Owner"), to any other Current Owner, (ii) any acquisition of
          equity securities by Meridian, (iii) any acquisition directly from
          Meridian (including through an underwriter or other financial
          intermediary), other than an acquisition by virtue of the exercise of
          a conversion privilege unless the security being so converted was
          itself directly acquired from Meridian, or (iv) any acquisition by an
          employee benefit plan (or related trust) sponsored or maintained by
          Meridian or any entity controlled by Meridian.

     2.8 "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, and the regulations and rulings issued thereunder. References to any
section or subsection of the Code herein includes the reference to any
comparable or succeeding provisions of any legislation that amends, supplements
or replaces that section or subsection.

     2.9 "COMPANY" means Meridian Automotive Systems, Inc. and its successors.

     2.10 "DEFERRED COMPENSATION PLAN" means the Meridian Automotive Systems,
Inc. Deferred Compensation Plan, effective as of July 1, 2002, as amended. The
Deferred Compensation Plan received transfer of all Elective Deferrals Accounts
of Participants with elective deferrals under the Plan as of June 30, 2002.

     2.11 "DISABLED" OR "DISABILITY" means a mental or physical condition of a
Participant that prevents him (or is likely to prevent him) from performing the
duties of his job for a period of 12 consecutive months. The existence of a
disability shall be established by the certification of a physician or
physicians selected by the Plan Administrator, unless the Plan Administrator
determines that an examination is unnecessary.

     2.12 "DISTRIBUTABLE EVENT" means an event described in Section 6.1.

                                       3
<Page>

     2.13 "ELECTIVE DEFERRALS" means pre-tax deferrals of Base Salary and Bonus,
including catch-up contributions if applicable, a Participant makes under the
Deferred Compensation Plan, the Grandfathered 401(k) Plan or the Global 401(k)
Plan and which are eligible for Matching Contributions under Section 4.3 herein.

     2.14 "ELECTIVE DEFERRALS ACCOUNTS" means the Accounts formerly maintained
under the Plan to record amounts credited under Section 4.2, based upon a
Participant's elective deferrals and investment earnings thereon, which accounts
have been transferred to the Deferred Compensation Plan as of July 1, 2002.

     2.15 "EMPLOYEE" means any individual who, for tax purposes, is considered
by the Employer to be a common-law employee. An individual who, for tax
purposes, is treated by the Employer as an independent contractor is not an
Employee.

     2.16 "EMPLOYER" means the Company and its parents, subsidiaries and
affiliates to which the Company extends participation in this Plan.

     2.17 "EMPLOYER CONTRIBUTION ACCOUNTS" means the Accounts maintained to
record amounts credited on behalf of a Participant under Sections 4.3, 4.4(b)
and 4.5 and any additional amounts credited for investment earnings under
Section 4.6.

     2.18 "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the regulations and rulings issued thereunder.
References to any section or subsection of ERISA herein includes reference to
any comparable or succeeding provisions of any legislation that amends,
supplements or replaces that section or subsection.

     2.19 "GOOD REASON" means a voluntary termination from the Company within
the 12-month period immediately following a Change in Control of the Company on
account of any of the following circumstances, unless such circumstances are
fully corrected prior to the date of termination:

           (i) the Company's assignment of any duties materially inconsistent
               with the Participant's position within the Company, or which have
               a significant adverse alteration in the nature or status of the
               responsibilities of the Participant's employment;

          (ii) a reduction by the Company in the Participant's annual base
               salary, unless such reduction is part of a compensation reduction
               program affecting all similarly situated management employees; or

         (iii) a requirement by Meridian that the Participant be based anywhere
               other than the principal executive offices of Meridian, except
               for required travel on Meridian business to an extent
               substantially consistent with customary business travel
               obligations.

     2.20 "GRANDFATHERED 401(k) PLAN" means the Meridian Automotive Systems,
Inc. Salaried 401(k) Plan. Where capitalized terms used in this Plan in

                                       4
<Page>

reference to the Grandfathered 401(k) Plan are not defined in this Plan, such
terms shall have the meaning given to them under the terms of the Grandfathered
401(k) Plan.

     2.21 "GRANDFATHERED BASE CONTRIBUTION ACCOUNT" means the Account maintained
to record amounts credited on behalf of a Participant under Section 4.4(a) and
any additional amounts credited for investment earnings under Section 4.6.

     2.22 "GLOBAL 401(k) PLAN" means the Meridian Automotive Systems, Inc.
401(k) Retirement Plan, effective January 1, 2001. Where capitalized terms used
in this Plan in reference to the Global 401(k) Plan are not defined in this
Plan, such terms shall have the meaning given to them under the terms of the
Global 401(k) Plan.

     2.23 "INVESTMENT RESULTS" means the investment earnings credited to a
Participant's Accounts under Section 4.6.

     2.24 "MATCHING CONTRIBUTIONS" are amounts credited to a Participant's
Employer Contribution Account under Section 4.3, based upon the amount of his
Elective Deferrals.

     2.25 "PARTICIPANT" means an Employee or former Employee of the Employer who
has met the requirements for participation under Article 3, and who is eligible
to receive a retirement benefit from the Plan.

     2.26 "PLAN" means the Meridian Automotive Systems, Inc. Supplemental
Executive Retirement Plan, restated effective as of July 1, 2002, as amended.

     2.27 "PLAN ADMINISTRATOR" means the Company or the committee designated by
the Company as the Plan Administrator under Article 8.

     2.28 "PLAN YEAR" means the calendar year.

     2.29 "RETIREMENT" means a Participant's termination of employment with the
Employer after satisfying the requirements for normal retirement under the
Grandfathered 401(k) Plan or the Global 401(k) Plan, as applicable.

     2.30 "TRUST AGREEMENT" means the trust agreement entered into by and
between the Company and the Trustee in accordance with Section 7.1 to fund
benefit payment obligations under this Plan. 2.31 "TRUST FUND" means the assets
held under the Trust Agreement.

     2.31 "TRUST FUND" means the assets held under the Trust Agreement.

     2.32 "TRUSTEE" means the unrelated commercial bank or trust company
designated as trustee by the Company pursuant to Article 7.

                                       5
<Page>

                                  ARTICLE III
                                  PARTICIPATION

     3.1 ELIGIBILITY FOR PARTICIPATION. The Company, in its sole discretion,
shall determine the Employees who are eligible to participate in the Plan. An
Employee shall begin to participate in the Plan on the first day of the month
after being designated as a Participant by the Company. It is intended that
participation be limited to Employees who will qualify as members of a "select
group of management or other highly compensated employees" under Title I of
ERISA. As a condition for participation in the Plan, the Employee must sign an
application form provided by the Plan Administrator. In the application form,
the Employee shall acknowledge that he is an unsecured creditor of the Company
with regard to any benefits under the Plan, he shall waive any right to a
priority claim with regard to the benefits, and he shall designate the form and
timing of payment of any benefits under the Plan.

     3.2 TERMINATION OF ACTIVE PARTICIPATION. The Company may remove an Employee
from further active participation in the Plan. If this occurs, the Employee
shall not have any additional amounts credited to his Accounts under Sections
4.3, 4.4 or 4.5. However, the Employee will continue to have Investment Results
added to his Accounts under Section 4.6 until his Accounts are distributed.

                                   ARTICLE IV
                          AMOUNTS CREDITED TO ACCOUNTS

     4.1 PARTICIPANTS' ACCOUNTS. The Plan Administrator shall maintain such
Accounts and subaccounts as is necessary to record a Participant's benefits
under the terms of the Plan. Amounts shall be credited to a Participant's
Accounts as provided in this Article. A Participant's vested interest in his
Accounts shall be determined under Article 5. The Accounts are for bookkeeping
purposes only. The Employer is not required to make contributions to any Trust
Fund to fund the amount credited to the Participant's Accounts.

     4.2 PRIOR CREDITS OF ELECTIVE DEFERRALS. Through June 30, 2002, the Company
credited Elective Deferrals to a Participant's Elective Deferrals Account with
the amount of a Participant's deferred Base Salary and Bonus, as determined in
accordance with the terms of the Plan then in effect. As of July 1, 2002, the
Elective Deferral Account of each affected Participant was transferred to the
Deferred Compensation Plan for the benefit of each affected Participant, which
deferred amounts shall thereafter be governed by the terms of the Deferred
Compensation Plan.

     4.3 AMOUNTS CREDITED AS MATCHING CONTRIBUTIONS.

     (a) Except as otherwise provided in paragraph (b), the Plan Administrator
shall credit a Matching Contribution to the Employer Contribution Account of
each eligible Participant as of the first day of each Plan Year. The amount of
the Matching Contribution shall be equal to 100% of the total amount of Elective
Deferrals made by the Participant to the Deferred Compensation Plan and the
Grandfathered 401(k) Plan

                                       6
<Page>

or Global 401(k) Plan, as applicable, for the prior Plan Year (or to this Plan
and the Deferred Compensation Plan combined, for the 2002 Plan Year), up to five
percent of the Participant's Base Salary for the prior Plan Year, reduced (but
not below zero) by the amount of matching contributions actually made on behalf
of the Participant to the applicable 401(k) Plan for the prior Plan Year. If a
Participant's actual deferral to the Grandfathered 401(k) Plan or Global 401(k)
Plan, as applicable, for the year is restricted to meet non-discrimination
testing, then 100% of the difference between the current dollar limit under
Section 402(g) of the Code and the actual deferral shall be deemed as added to
the total amount of Elective Deferrals made by the Participant for purposes of
calculating Matching Contributions.

     (b) No Matching Contributions shall be made for a Plan Year for a
Participant unless the Participant has elected to defer the maximum amount of
his Compensation (including, if applicable, catch-up contributions) to the
Grandfathered 401(k) Plan or Global 401(k) Plan, as applicable, for the prior
Plan Year allowed under the terms of such plan and under Sections 402(g), 415
and 401(k)(3) of the Code.

     4.4 AMOUNTS CREDITED FOR PARTICIPANTS IN THE GRANDFATHERED 401(k) PLAN.

     (a) FULLY VESTED GRANDFATHERED BASE CONTRIBUTIONS. If a Participant is
eligible to receive a Fully Vested Base Contribution under the Grandfathered
401(k) Plan for a Plan Year, but the total Fully Vested Base Contribution for
the Plan Year is less than 3% of his Base Salary, the difference between the
amount actually contributed to his Fully Vested Base Contribution Account and 3%
of his Base Salary shall be credited to the Participant's Grandfathered Base
Contribution Account. This amount shall be credited to the Participant's
Grandfathered Base Contribution Account as of the first day of the Plan Year
following the close of the Plan Year for which the contribution is made.

     (b) REGULAR BASE CONTRIBUTIONS. If a Participant is eligible to receive a
Regular Base Contribution under the Grandfathered 401(k) Plan for a Plan Year,
but the total Regular Base Contribution for the Plan Year is less than 7% of his
Base Salary, the difference between the amount actually contributed to his
Regular Base Contribution Account and 7% of his Base Salary shall be credited to
his Employer Contribution Account under this Plan. This amount shall be credited
to the Participant's Employer Contribution Account as of the first day of the
Plan Year following the close of the Plan Year for which the contribution is
made.

     4.5 AMOUNTS CREDITED FOR PARTICIPANTS IN THE GLOBAL 401(k) PLAN.

     (a) FIXED CONTRIBUTIONS. If a Participant is eligible to receive a Fixed
Contribution under the Global 401(k) Plan for a Plan Year, but the total Fixed
Contribution for the Plan Year is less than 3% of his Base Salary, the
difference between the amount actually contributed to his Fixed Contribution
Account and 3% of his Base Salary shall be credited to his Employer Contribution
Account under this Plan. This amount shall be credited to the Participant's
Employer Contribution Account as of the

                                       7
<Page>

first day of the Plan Year following the close of the Plan Year for which the
contribution is made.

     (b) PROFIT SHARING CONTRIBUTIONS. If a Participant is eligible to receive a
Profit Sharing Contribution under the Global 401(k) Plan for a Plan Year, but
the total Profit Sharing Contribution for the Plan Year is less than 7% of his
Base Salary, the difference between the amount actually contributed to his
Profit Sharing Account and 7% of his Base Salary shall be credited to his
Employer Contribution Account under this Plan. This amount shall be credited to
the Participant's Employer Contribution Account as of the first day of the Plan
Year following the close of the Plan Year for which the contribution is made.

     4.6 INVESTMENT RESULTS.

     (a) As of the last day of each month, the Plan Administrator shall credit
each Participant's Accounts with Investment Results for that month equal to
..798% of the amount credited to the Participant's Employer Contribution Account
as of the first day of such month.

     (b) Notwithstanding paragraph (a), this paragraph (b) shall apply in the
event the Plan Administrator, in its discretion, decides to make available one
or more investment funds in which amounts credited to each Participant's Account
shall be deemed invested, in accordance with the Participant's directions. Any
such directions shall be effective only in accordance with such rules as the
Plan Administrator may establish and applicable federal and state law.

         (i)   Each month the Plan Administrator shall credit the Participant's
               Account with the actual investment earnings or losses resulting
               from the performance of the investment funds in which the
               Participant's Accounts are invested (or deemed invested).

         (ii)  A Participant shall make his or her investment fund selections at
               such time and in such manner as permitted by the Plan
               Administrator. Investments must be made in whole percentages. A
               Participant may change his or her investment elections at any
               time, or may reallocate amounts invested among the investment
               funds available under the Plan, in accordance with such
               investment procedures established by the Plan Administrator.

         (iii) If a Participant does not make investment elections with respect
               to amounts credited to his or her Account, such amounts shall be
               deemed invested in such investment fund as the Plan Administrator
               may direct.

         (iv)  Account maintenance fees and expense charges for transactions
               performed for each Participant's Account shall be charged to the
               Participant's Account. Other Plan charges and administrative
               expenses will be paid by the Employer.

                                       8
<Page>

     4.7 STATEMENTS. As soon as practicable following the last business day of
each calendar quarter, the Plan Administrator (or its designee) shall provide
the Participant with a statement of such Participant's Account reflecting the
income, gains and losses (realized and unrealized), amounts of deferrals and
distributions with respect to such Account since the prior statement.

                                   ARTICLE V
                                     VESTING

     5.1 GRANDFATHERED BASE CONTRIBUTION ACCOUNT. A Participant shall be fully
vested in his Grandfathered Base Contribution Account, if any, at all times.

     5.2 EMPLOYER CONTRIBUTION ACCOUNT.

     (a) The Participant shall become fully vested in his Employer Contribution
Account: (i) if the Participant dies or becomes Disabled while an Employee, (ii)
upon the Participant's Retirement or date the Participant completes five years
of service with the Employer, or (iii) if the Company terminates the
Participant's employment without Cause, or the Participant terminates his
employment for Good Reason, at any time within the 12-month period following a
Change in Control.

     (b) If a Participant's employment terminates for any other reason, the
Participant shall be entitled to receive the vested percentage of the amount
credited to his Employer Contribution Account, based upon his completed years of
service with the Employer, according to the following schedule:

<Table>
<Caption>
                                                                 VESTED PORTION
                YEARS OF SERVICE                            OF EMPLOYER CONTRIBUTION
                ----------------                            ------------------------
<S>                                                                <C>
                  Less than 1                                           0%
           At least 1 but less than 2                                  20%
           At least 2 but less than 3                                  40%
           At least 3 but less than 4                                  60%
           At least 4 but less than 5                                  80%
                   5 or more                                          100%
</Table>

                                   ARTICLE VI
                            DISTRIBUTION OF BENEFITS

     6.1 DISTRIBUTABLE EVENTS. A Participant or his Beneficiary shall be
eligible for benefits under the Plan if a Distributable Event occurs. A
Distributable Event occurs if the Participant dies, becomes Disabled or
terminates employment with the Employer for any reason.

     6.2 AMOUNT OF BENEFIT. A Participant's benefit from the Plan shall be the
amount credited to Participant's Grandfathered Base Contribution Account, if
any,

                                       9
<Page>

and the vested amount credited to his Employer Contribution Account, as of the
date the benefit payment is made under Section 6.3.

     6.3 FORM AND TIME OF PAYMENT.

     (a) The Participant's Accounts may be paid in either a single lump sum or
in five annual installments, with such election to be made by the Participant
upon becoming a Participant in the Plan on a form acceptable to the Company. The
Participant may change his election each year on a form acceptable to the
Company, but his or her election shall be irrevocable for each following year.
If a Participant does not change his election as described above, the initial
distribution election will apply. Upon a Participant's termination of employment
for any reason, Disability or death, the Participant's Accounts shall be paid to
the Participant, or his or her Beneficiary, as applicable, in accordance with
the distribution option election on file as of December 31st of the year
preceding the Participant's termination of employment, Disability or death.

     (b) Payment of a Participant's Account shall be made, or shall begin,
within 30 days of the Participant's termination of employment for any reason,
Disability or death. If the installment payment option is in effect, each
subsequent installment shall be paid on the anniversary of the date of the
initial installment, and amounts remaining unpaid in the Participant's Account
during the installment period shall continue to receive Investment Results in
accordance with Section 4.6. If a Participant is receiving installment payments
and dies before a complete distribution of his Account, the remaining
installment payments shall continue to be paid, in installment form, to the
Participant's Beneficiary.

     6.4 RIGHT OF OFFSET. The Company shall have the right to offset any amounts
payable to a Participant under the Plan by any amount necessary to reimburse the
Employer for liabilities or obligations of the Participant to the Employer,
including for amounts misappropriated by the Participant.

     6.5 TAX WITHHOLDING. Income taxes and other taxes payable with respect to
an Account shall be deducted from amounts payable under the Plan. All federal,
state or local taxes that the Plan Administrator determines are required to be
withheld from any payments made pursuant to this Plan shall be withheld.

                                  ARTICLE VII
                                     FUNDING

     7.1 ESTABLISHMENT OF TRUST FUND.

     (a) Except as provided in paragraph (b), the Company may, but shall not be
required to, enter into a Trust Agreement with an unrelated financial
institution, as Trustee, to establish a Trust Fund. If a Trust Fund is
established, the Company may, but is not required to, make contributions to the
Trust Fund. Such Trust Fund may be the same as the Company establishes for
purposes of funding benefits under the Deferred Compensation Plan or any other
plan of compensation of the Company.

                                       10
<Page>

     (b) Notwithstanding paragraph (a), within 15 days following the date of a
Change in Control of the Company, the Company shall enter into a Trust Agreement
with a Trustee to establish a Trust Fund (if one has not yet been established
under paragraph (a)), which shall be used to fund the benefits payable under
this Plan. Such Trust Fund may be the same as the Company establishes for
purposes of funding benefits under the Deferred Compensation Plan or any other
plan of compensation of the Company. Within 15 days following the date of a
Change in Control of the Company, the Company shall deposit sufficient cash or
marketable securities in the Trust Fund with the Trustee to fully fund all
benefit obligations under this Plan, which shall be determined as if all
obligations under this Plan became immediately due and payable as of the date of
the Change in Control of the Company.

     7.2 STATUS AS GRANTOR/RABBI TRUST. If established under 7.1, the Trust Fund
shall meet the requirements of a "grantor trust" under Sections 671 through 678
of the Code and of a "rabbi trust" under Internal Revenue Service Revenue
Procedure 92-64. The Trust Agreement shall provide that the assets of the Trust
Fund are subject to the claims of the Company's general creditors if the Company
becomes insolvent. If any assets of the Trust Fund are seized by general
creditors of the Company, a Participant's right to receive benefits under the
Plan shall not be changed.

     7.3 STATUS OF PARTICIPANTS AS UNSECURED CREDITORS. The obligation of the
Employer to pay benefits under the Plan shall be unsecured. Each Participant is
an unsecured creditor of the Company. The Plan constitutes a mere promise by the
Company to make benefit payments in the future. The establishment of an account
for a Participant and the Company's payment of contributions to the Trust Fund
are not intended to create any security for payment of benefits under the Plan
or change the status of the Plan as an unfunded plan for tax purposes or Title I
of ERISA.

                                  ARTICLE VIII
                                 ADMINISTRATION

     8.1 PLAN ADMINISTRATOR. The Company shall have the sole responsibility for
the administration of the Plan and is designated as named fiduciary and Plan
Administrator.

     8.2 DELEGATION OF DUTIES. The Company may delegate its duties as Plan
Administrator to a committee appointed by the Board of Directors. The committee
shall have the powers and duties of the Plan Administrator described in this
Article. If a member of the committee is a Participant, he shall abstain from
voting on any matter specifically relating to his benefits under the Plan.

     8.3 POWERS OF PLAN ADMINISTRATOR. The Plan Administrator shall have all
discretionary powers necessary to administer and satisfy its obligations under
the Plan, including, but not limited to, the following:

         (i)   to maintain records pertaining to the Plan;

         (ii)  to interpret the terms and provisions of the Plan;

                                       11
<Page>

         (iii) to establish procedures by which Participants may apply for
               benefits under the Plan and appeal a denial of benefits;

         (iv)  to determine the rights under the Plan of any Participant
               applying for or receiving benefits;

         (v)   to administer the appeal procedure provided in this Article;

         (vi)  to perform all acts necessary to meet the reporting and
               disclosure obligations imposed by Sections 101 through 111 of
               ERISA (if any are applicable); and

         (vii) to delegate specific responsibilities for the operation and
               administration of the Plan to such Employees or agents as it
               deems advisable and necessary.

     8.4 STANDARD OF CARE. The Plan Administrator shall administer the Plan
solely in the interest of Participants and for the exclusive purposes of
providing benefits to the Participants and their Beneficiaries. The Plan
Administrator shall administer the Plan with the care, skill, prudence and
diligence under the circumstances then prevailing that a prudent person, acting
in a like capacity and familiar with such matters, would use in the conduct of
an enterprise of a like character and with like aims. The Plan Administrator
shall not be liable for any act or omission relating to its duties under the
Plan unless the act or omission violates the standard of care described in this
Section.

     8.5 CLAIMS PROCEDURE. A Participant or Beneficiary shall have the right to
file a claim, inquire if he or she has any right to benefits and the amounts
thereof, or appeal the denial of a claim.

     (a) INITIAL CLAIM. A claim will be considered as having been filed when a
written communication is made by the Participant, Beneficiary or his or her
authorized representative to the attention of the Plan Administrator (the
"claimant"). The Plan Administrator shall notify the claimant in writing within
90 days after receipt of the claim if the claim is wholly or partially denied.
If an extension of time beyond the initial 90-day period for processing the
claim is required, written notice of the extension shall be provided to the
claimant prior to the expiration of the initial 90-day period. In no event shall
the period, as extended, exceed 180 days. The extension notice shall indicate
the special circumstances requiring an extension of time and the date by which
the Plan Administrator expects to render a final decision.

     (b) CONTENT OF DENIAL. Notice of a wholly or partially denied claim for
benefits will be in writing in a manner calculated to be understood by the
claimant and shall include:

         (i)   the reason or reasons for denial;

                                       12
<Page>

         (ii)  specific reference to the Plan provisions on which the denial is
               based;

         (iii) a description of any additional material or information
               necessary for the claimant to perfect the claim and an
               explanation of why such material or information is necessary; and

         (iv)  an explanation of the Plan's claim appeal procedure.

     (c) RIGHT TO REVIEW. If a claim is wholly or partially denied, the claimant
may file an appeal requesting the Plan Administrator to conduct a full and fair
review of his or her claim. For purposes of this review, the Plan Administrator
may appoint an individual or committee (other than the individual or committee
that heard the initial claim) to act on its behalf. An appeal must be made in
writing no more than 60 days after the claimant receives written notice of the
denial. The claimant may review any relevant documents that apply to the case
and may also submit points of disagreement and other comments in writing along
with the appeal. The decision of the Plan Administrator regarding the appeal
shall be given to the claimant in writing no later than 60 days following
receipt of the appeal. However, if the Plan Administrator, in its sole
discretion, grants a hearing, or there are special circumstances involved, the
decision will be given no later than 120 days after receiving the appeal. If
such an extension of time for review is required, written notice of the
extension shall be furnished to the claimant prior to the commencement of the
extension. The decision shall include specific reasons for the decision, written
in a manner calculated to be understood by the claimant, as well as specific
references to the pertinent Plan provisions on which the decision is based.

     (d) EXHAUSTION OF ADMINISTRATIVE REMEDY. Notwithstanding any provision in
the Plan to the contrary, no employee, Participant, Beneficiary or other person
may bring any legal or administrative claim or cause of action against the Plan,
the Plan Administrator or the Employer in court or any other venue until such
person has exhausted its administrative remedies under this Section 8.5.

     (e) SUSPENSION OF PAYMENT. If the Plan Administrator is in doubt concerning
the entitlement of any person to any payment claimed under the Plan, the Plan
Administrator may instruct the Employer to suspend payment until satisfied as to
the person's entitlement to the payment. Notwithstanding the foregoing, no
person may bring a claim for Plan benefits to arbitration, court or through any
other legal action or process until the administrative claims process of this
Section 8.5 has been exhausted.

                                   ARTICLE IX
                                  MISCELLANEOUS

     9.1 NO ASSIGNMENT. No Plan benefits, payments or proceeds shall be subject
to any claim of any creditor of any Participant or Beneficiary and shall not be
subject to attachment or garnishment or other legal process. Participant
Accounts or benefits payable may not be assigned, pledged or encumbered in any
manner, and any attempt to do so shall be void.

                                       13
<Page>

     9.2 NOTICES AND COMMUNICATIONS. All notices, statements, reports and other
communications from the Plan Administrator to any Participant, Beneficiary or
other person required or permitted under the Plan shall be deemed to have been
duly given when personally delivered to, when transmitted via facsimile or other
electronic media, or when mailed overnight or by first-class mail, postage
prepaid and addressed to, such Participant, Beneficiary or other person at his
or her last known address on the Employer's records. All elections,
designations, requests, notices, instructions and other communications from a
Participant, Beneficiary, or other person to the Plan Administrator required or
permitted under the Plan shall be in such form as is prescribed from time to
time by the Plan Administrator, and shall be mailed by first-class mail,
transmitted via facsimile or other electronic media, or delivered to such
location as shall be specified by the Plan Administrator. Such communication
shall be deemed to have been given and delivered only upon actual receipt by the
Plan Administrator at such location.

     9.3 RECEIPT AND RELEASE. Any payment to any Participant or Beneficiary in
accordance with the provisions of the Plan shall, to the extent thereof, be in
full satisfaction of all claims against the Employer, the Plan Administrator and
a Trustee (if any) under the Plan, and the Plan Administrator may require such
Participant or Beneficiary, as a condition precedent to such payment, to execute
a receipt and release to such effect. If any Participant or Beneficiary is
determined by the Plan Administrator to be incompetent by reason of physical or
mental disability (including minority) to give a valid receipt and release, the
Plan Administrator may cause the payment or payments becoming due to such person
to be made to another person for his or her benefit without responsibility on
the part of the Plan Administrator, the Employer or a Trustee (if any) to follow
the application of such funds.

     9.4 EMPLOYMENT RIGHTS. The existence of the Plan shall not grant a
Participant any legal right to continue as an Employee nor affect the right of
the Employer to discharge a Participant.

     9.5 AMENDMENT OR TERMINATION. The Company shall have the right to amend or
terminate the Plan at any time. However, no amendment or termination shall
reduce the amount credited to a Participant's Accounts. If the Plan is
terminated, no Participant shall have additional amounts credited to his
Accounts under Sections 4.2, 4.3, 4.4 or 4.5, but the Participant shall be
credited with Investment Results under Section 4.6 until the Participant's
benefits are distributed to the Participant. The Participant shall be entitled
to receive the amount credited to his Accounts upon satisfying the requirements
for payment of benefits under the Plan.

     9.6 SEVERABILITY. The unenforceability of any provision of the Plan shall
not affect the enforceability of the remaining provisions of the Plan.

     9.7 HEADINGS. Headings and subheadings in the Plan are inserted for
convenience only and are not to be considered in the construction of the
provisions hereof.

                                       14
<Page>

     9.8 CONSTRUCTION. Words used in the masculine shall apply to the feminine
where applicable. Wherever the context of the Plan dictates, the plural shall be
read as the singular and the singular as the plural.

     9.9 GOVERNING LAW. To the extent that Michigan law is not preempted by
ERISA, the provisions of the Plan shall be governed by the laws of the state of
Michigan.

                                      * * *

     IN WITNESS WHEREOF, the undersigned officer of Meridian Automotive Systems,
Inc. has executed this document to certify the Company's adoption of the Plan,
effective as of July 1, 2002.

     DATE:                             MERIDIAN AUTOMOTIVE SYSTEMS, INC.
          -----------------------

                                       By:
                                           ----------------------------------

                                       Its:
                                           ----------------------------------

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